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REQUEST FOR LA PORTE ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM <br />Agenda Date Requested: 11/15/11 <br />Appropriation <br />Source of Funds: <br />Requested By: Stacey Osborne <br />Department: CMO <br />Report: X Resolution: Ordinance: <br />Exhibits: <br />Account Number: <br />Amount Budgeted: <br />Amount Requested: <br />Budgeted Item: YES NO <br />SUMMARY & RECOMMENDATION <br />In October, 2009, the City of La Porte Development Corporation purchased from the owners of <br />the Shipley Donuts store, Lots 7 and 8, Block 52, Town of LaPorte, Harris County, Texas, for a <br />price of $23,000.00. These two lots are contiguous to the property owned by the City of La <br />Porte, described as the commercial building at 912 West Main Street, and the parking lot <br />adjacent to the building. The purpose of this item is for the Board to discuss and consider <br />approval of the sale of these two lots in conjunction with the sale of 912 W. Main. <br />The City of La Porte has advertised for bids to be received on November 30, 2011, for the sale of <br />both its property, and the two lots owned by the Development Corporation. When the sale has <br />been completed, the pro -rata portion of the sales price attributable to Lots 7 and 8, Block 52, Town of <br />LaPorte, less expenses, will be remitted to the Economic Development Board. <br />Action Required by Economic Development Corporation: <br />1. Consider approval of the sale of Lots 7 and 8, Block 52 Town of La Porte, in conjunction <br />with the sale by the City of La Porte of its adjoining commercial building and parking lot at <br />912 West Main Street, and <br />2. Authorize the City of La Porte to conduct the bidding and sale of Lots 7 and 8, Block 52, <br />Town of La Porte, on behalf of the City of La Porte Development Corporation <br />Approved for La Porte Development Corporation Agenda <br />Steve Gillett, Interim City Manager <br />date <br />