11-11-13 Meeting of the La Porte Development Corporation Board of Directors

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23 October 2013 Mrs. Barbara Cutsinger Marketing Manager Bay Area Houston Economic Partnership P.O. Box 58724 Houston, TX 77258 RE: Texas -Sized Commercial Development Opportunities in La Porte, Texas Dear Mrs. Cutsinger: La Porte, Texas, home to the San Jacinto Monument and Battleground for Texas' Independence, is also the center of the 2nd largest petro-chemical/refining complex in the world and gateway to the Houston Ship Channel. Technological advances in fracking and natural gas extraction, expansion of the Panama Canal, expansion of the Port of Houston's Barbour's Cut and Bayport Terminals, and opening of the Houston Bayport Cruise Terminal are attracting billions of new, industrial investment to La Porte. Although La Porte is fortunate to attract so much industrial trade and investment, daytime employment, high average household incomes, and tourism, it suffers from a lack of new retail and restaurant development. La Porte epitomizes the backbone of the resurging U.S. economy. The citizens of La Porte are hard-working people with good incomes in a solid, diverse economy that is slated to grow for generations to come. Catalyst Commercial, Inc. recently completed a retail trade analysis of La Porte's Primary Trade Area (map enclosed) and identified the following: • 383,000 Population • $72,000 Avg. HH Income • 154,000 Daytime Employment • $337 Million Under -Served Retail Trade • 490,387 SF Demand for More Retail • 74% White Alone, 40% Hispanic (Any Race) • Over $8 Billion in Commercial Investment • Thousands of New Homes • Over 6 Million Tourists annually visit the San Jacinto Monument, Princess and Norwegian Cruise Lines at the Houston Bayport Cruise Terminal, Kemah Boardwalk, Johnson Space Center, Battleship Texas, Clear Lake, League City, Seabrook, Historic Sylvan Beach Park, Golf Courses, Main Streets, Parks, and Marinas in the Bay Area.