08-14-17 Meeting of the La Porte Development Corporatin Board

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEM Agenda Date Requested: August 14, 2017 Requested By' Traci Teach Department: Administration Report: Resolution: Ordinance: Exhibit: Invoices/payments Exhibit: Project Photos SUMMARY Budget Source of Funds: Fund 038 Account Number: Amount Budgeted: $7,559.73 Amount Requested: $7,559.73 Budgeted Item: YES NO On August 29, 2016, the Board approved an Enhancement Grant to The Gates, located at 912 W. Main Street in La Porte, Texas for an amount not to exceed $7,559.73. The scope of work, which included landscaping, new awnings, and brick facade, has been completed. The total actual expenditure was slightly more than the total that was outlined by the quotes back in August. The chart below compares the initial approved amount for each work item and the actual amount based on invoices and checks submitted. The total amount spent on the project was $15,724.22, which is slightly more than the approved project total. Staff has verified the supporting documentation showing payment and invoices. Additionally, as required, the photos of the project are attached for the Board's review. Fifty - percent of the total expenditure amount is $7,862.11. However, the maximum approved by the Board is $7,559.73 and staff recommends approving this amount for The Gates Enhancement Grant. Action Required by the La Porte Development Corporation Board: Consider approval or other action to authorize staff to execute payment in the amount of $7,559.73 to The Gates for completed infrastructure, site improvements, and other related improvements for building site at 912 W. Main, in accordance with terms of incentive agreement. Approved for the La Porte Development Corporation Agenda Corby D. Alexander, City Manager Date