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REQUEST FOR LA PORTE ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM <br />Agenda Date Requested: 9/13/11 <br />Requested By: Stacey Osborne <br />Department: CMO <br />Report: Resolution: Ordinance: <br />Exhibit <br />Appropriation <br />Source of Funds: <br />015 & 038 (currently) <br />Account Number: <br />015 -9892- 706 -1100 <br />Amount Budgeted: <br />S360,000 <br />Amount Requested: <br />Budgeted Item: <br />YES NO <br />SUMMARY & RECOMMENDATION <br />In FY 2010 -11, the EDC Board approved the addition of $180,000 to the 2010 -11 budget for expenditure <br />on bulkheads for the Bay Forest Golf Course, which was half the cost of the entire project. Council has <br />requested that the EDC Board pay for the entire project, which will require the Board's approval of the <br />expenditure of an additional $180,000. <br />On August 23, 2010 the Board approved the addition of $180,000 to the budget for expenditure on this <br />project, and it was approved as a project on November 15, 2010. On August 23, 2011 the Board voted to <br />add another $180,000 to the budget for FY 2011 -12, and this evening the Board is being asked to approve <br />the expenditure of those funds for this project. <br />Project Summary: <br />The Bav Forest Golf Course is in need of additional bulkheads in kev locations around the course. The <br />entire cost of new bulkheads will be $360,000. Funds will be used to purchase 5,000 bulkheads which <br />will be placed at key locations around the golf course. <br />Staff recommends that the Board accept the expenditure of and additional $180,000 to fund the <br />installation of bulkheads at the City of La Porte Golf Course as part of an already approved project of the <br />La Porte Development Corporation. <br />Action Required by Economic Development Corporation: <br />Consider approval or other action to accept the expenditure of an additional $180,000 to fund 100% of the <br />installation of bulkheads at the City of La Porte Golf Course as part of an already- approved project of the <br />La Porte Development Corporation. <br />Approved for La Porte Development Corporation Agenda <br />Ron Bottoms, City Manager <br />date <br />