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RICHARD WARREN,PRESIDENT <br />MIKE CLAUSEN, BOARD MEMBER <br />MIKE COOKSLEY, BOARD MEMBERRANDY WOODARD,BOARDMEMBER <br />JOHN ZEMANEK, BOARD MEMBERNANCY OJEDA, BOARD MEMBER <br />CHUCK ENGELKEN, BOARD MEMBER <br />MINUTES OF LA PORTE DEVELOPMENT CORPORATION BOARD <br />MEETING OF NOVEMBER 12, 2012 <br />November12,2012, <br />The City of La Porte Development Corporation Board met onat the City Hall Council <br />5:00p.m <br />Chambers, 604 West Fairmont Parkway, La Porte, Texas, at .to consider the followingitems of <br />business: <br />1. <br />Call to Order <br />President Warrencalled the meeting to order at 5:00p.m. The following members of the La Porte <br />Development Corporation Board were present: Board membersEngelken, Clausen, Woodard, <br />Ojeda, Zemanek and Cooksley. <br />Staff Present: Corby Alexander,Traci Leach, Patrice Fogarty, Stacey Osborne, Michael Dolbyand <br />Assistant City Attorney Clark Askins. <br />2. <br />Consider approval of Minutes of the La Porte Development Corporation Board held on October 22, <br />2012, 2012 –P. Fogarty <br />Board member Zemanekmoved to approve the minutes as presented. Board member Cooksley <br />MOTION PASSED. <br />seconded. <br />Ayes: President Warren, Board members Engelken, Clausen, <br />Woodard,Ojeda, Zemanek and Cooksley <br />Nays: None <br />Absent:None <br />3. Public Hearing <br />to receive comments on a proposed expenditure of the La Porte Development <br />Corporation funds to pay for an incentive grant in the amount of $500,000.00 for a project to provide <br />infrastructure improvements to the InterGulf World Headquarters site on State Highway 146 in the <br />City of La Porte–S. Osborne <br />The public hearing was opened at 5:01p.m.Economic Development Coordinator Stacey Osborne <br />presented a summaryregardinga proposed expenditure of La Porte Development Corporation <br />funds for an incentive grant in the amount of $500,000.00 fora project to provide infrastructure <br />improvements to the InterGulf World Headquarters site on State Highway 146 in the City of <br />LaPorte. <br />Boardmember Woodard asked ifInterGulf Corporationownsthe property. Economic Development <br />Coordinator Stacey Osborne responded she was not certain if InterGulf Corporationownsthe <br />property she only knew they are in the process of purchasing the property. Boardmember <br />Woodard questioned if the value of the landis based before or after improvements. City Manager <br />Corby Alexander responded the value isbased on before improvements. Boardmember Woodard <br />questioned what would be the value of the property after improvements. City Manager Corby <br />Alexander responded the property would have to be appraised after improvements are completed <br />Page 1of 3 <br />November 12, 2012, La Porte Development Corporation Board Minutes <br /> <br />