04-28-14 Meeting of the La Porte Development Corporation Board of Directors

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEMITEM April 28, 2014April 28, 2014AppropriationAppropriation Agenda Date Requested:Agenda Date Requested: N/A N/A S. Livingston S. Livingston Source of Funds:Source of Funds: Requested By:Requested By: Account Number:Account Number: Economic Development/Tourism Economic Development/Tourism Department: Amount Budgeted:Amount Budgeted: Report:Resolution:Resolution:Ordinance:Ordinance: Amount Requested:Amount Requested: Exhibits: Budgeted Item:Budgeted Item:YESYESNONO 1. 2030 Comprehensive Plan1. 2030 Comprehensive Plan SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS Every projectof the LPDC may be considered for approval only after a 60 day public notice for a public hearing of the LPDC may be considered for approval only after a 60 day public notice for a public hearing has been published and the public hearing has been conducted. Also, according to the bylaws of the La Porte has been published and the public hearing has been conducted. Also, according to the bylaws of the La Porte Development Corporation, Development Corporation, , including expenses that are included in the approved budget, for , including expenses that are included in the approved budget, for all expensesall expenses must be approved by the City Council. All things considered, it takes about three (3) months to must be approved by the City Council. All things considered, it takes about three (3) months to $15,000or moreor more authorize funding for each authorize funding for each projectprojectof the LPDC.of the LPDC. Rather than waiting until we need the funds for a Rather than waiting until we need the funds for a projectprojectbefore conducting the process of holding a public before conducting the process of holding a public hearing, designating a hearing, designating a projectproject, , approving a approving a projectproject, , and then seeking approval from City Council to use the and then seeking approval from City Council to use the funds for a desired funds for a desired projectproject, , it may be beneficial to take all these necessary steps during the budget process for it may be beneficial to take all these necessary steps during the budget process for the new fiscal year. the new fiscal year. When the City Council votes to approve the proposed budget of the 4B Board for FY 2014 When the City Council votes to approve the proposed budget of the 4B Board for FY 2014--2015, it could consider 2015, it could consider approving each designated approving each designated projectprojectas part of the approved budget. This would allow the 4B Board to use the as part of the approved budget. This would allow the 4B Board to use the funds later in the year when the funds are needed, rather than waiting to hold a public hearing on the same funds later in the year when the funds are needed, rather than waiting to hold a public hearing on the same funds later in the year when the funds are needed, rather than waiting to hold a public hearing on the same funds later in the year when the funds are needed, rather than waiting to hold a public hearing on the same projectlater in the year.later in the year. Therefore, the 4B Board may wish to consider which Therefore, the 4B Board may wish to consider which projectsprojectsit either anticipates or may wish to address it either anticipates or may wish to address during the new fiscal year. during the new fiscal year. Possible ProjectsProjectsin FY 2014 in FY 2014 --20152015 Proposed ProjectsProjects, , and the proposed budget for each project, in FY 2014 and the proposed budget for each project, in FY 2014 --2015 may be considered as follows:2015 may be considered as follows: for Workforce Development/Training, for Workforce Development/Training, $50,000$50,000 to support Small Business Development ( to support Small Business Development (please note the enclosed, background please note the enclosed, background $25,000$25,000 information for further detailsinformation for further details))