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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA <br />ITEMITEM <br />August 11, 2014August 11, 2014AppropriationAppropriation <br />Agenda Date Requested:Agenda Date Requested: <br />N/A N/A <br />S. Livingston S. Livingston Source of Funds:Source of Funds: <br />Requested By:Requested By: <br />N/A N/A <br />Economic Development/Tourism Economic Development/Tourism Account Number:Account Number: <br />Department: <br />N/A N/A <br />Amount Budgeted:Amount Budgeted: <br />Report:Resolution:Resolution:Ordinance:Ordinance: <br />N/A N/A <br />Amount Requested:Amount Requested: <br />Exhibits: <br />Budgeted Item:Budgeted Item:YESYESNONO <br />1. INEOS Agenda Request 1. INEOS Agenda Request <br />2. Amendment to LPDC Incentive Agreement2. Amendment to LPDC Incentive Agreement <br />3. INEOS Request to Revise the Development 3. INEOS Request to Revise the Development <br />AgreementAgreement <br />4. INEOS Development Agreement, 23 4. INEOS Development Agreement, 23 <br />September 2013September 2013 <br />SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS <br />  <br />In order to enable further development of commercial aspects of INEOSIn order to enable further development of commercial aspects of INEOS’’s s , which is , which is <br />Ethylene Oxide ProjectEthylene Oxide Project <br />taking longer than originally planned, the principals of INEOS respectfully requested a twotaking longer than originally planned, the principals of INEOS respectfully requested a two--year <br />extension of year extension of <br />deadlines related to only the deadlines related to only the under the existing development/incentive agreement, which under the existing development/incentive agreement, which <br />Ethylene Oxide ProjectEthylene Oxide Project <br />was signed 23 September 2013. was signed 23 September 2013.  <br />  <br />On Monday, 14 July 2014, the 4B Board voted to approve INEOSOn Monday, 14 July 2014, the 4B Board voted to approve INEOS’’s request and authorized staff to draft all the s request and <br />authorized staff to draft all the <br />necessary revisions to the existing development/incentive agreement.necessary revisions to the existing development/incentive agreement. <br />  <br />Staff RecommendationStaff Recommendation <br />  <br />Consider authorizing Board President Richard Warren to sign and execute an amendment to the INEOS Consider authorizing Board President Richard Warren to sign and execute an amendment <br />to the INEOS <br />development/incentive agreement which contains revisions to selected portions of the original development development/incentive agreement which contains revisions to selected portions <br />of the original development <br />agreement that were approved by the 4B Board on Monday, 14 July 2014.agreement that were approved by the 4B Board on Monday, 14 July 2014. <br />  <br />  <br />History <br />  <br /> <br />