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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEM <br /> <br />Budget <br /> <br />Agenda Date Requested: 18 August 2014 <br /> <br />Source of Funds: N/A <br />Requested By: Scott D. Livingston <br /> <br />Account Number: N/A <br />Department: Administration/Economic Development <br /> <br />Amount Budgeted: N/A <br />Report: Resolution: Ordinance: <br /> <br />Amount Requested: N/A <br /> <br />Exhibit: LPDC Project Score Card - PRIORITIES, 18 Aug. 2014 <br />Budgeted Item: YES NO <br /> <br />Exhibit: <br /> <br />Exhibit: <br /> <br />SUMMARY <br />The 4B Board has the authority to award economic development incentives to encourage a wide variety of <br />priorities <br /> regarding the variety of projects for which the Board may wish to consider awarding financial <br />incentives. <br />In any discussion regarding economic development incentives for any industrial or retail project, the Board <br />The maximum abatement for industry, whether for <br />10% 5 years <br /> average of for. These percentages <br />sole basis <br />are too low to be the for awarding an economic development grant to industry. The maximum tax <br />50%5 years <br />abatement offered for retail development is for . For the caliber of retail development that La <br />sole basis <br />Porte wishes to attract, these percentages are too low to be the for awarding an economic <br />development grant. <br />not <br /> discussion is intended to create a rigid framework for offering financial incentives to <br />any particular project, the discussion should provide each of the Board Directors and staff with a better <br />general scale of reference <br /> that may be used to offer a financial <br />incentive to a broad range of project types. Enclosed <br /> <br />During discussion, please be prepared to share whether any of these values need to be revised. <br /> <br />Project's PRIORITY Value (Up to 10) <br />101 <br />Staff assigned prioritized values, from a maximum of to a minimum of , based upon his understanding of <br />s for various types of projects: <br />New Retail/Restaurant Development (Higher) 10 <br /> <br />