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<br />Board member Woodard moved to amend the Bylaws and increase authorized expenditures up to <br />MOTION PASSED UNANIMOUSLY 7/0. <br />$50,000.00. Board member Ojeda seconded. <br />(a) Consider approval or other action authorizing an enhancement grant in an amount not to exceed <br />$42,057.86 payable to Brotamonte Asset 1, LLC., and associated development agreement, for <br />nd <br />infrastructure improvements to apartment building complex located at 315 N. 2 Street with payment to <br />be remitted at the completion of the project S. Livingston <br /> <br />Economic Development Coordinator Scott Livingston presented a summary. <br />Edwin Brotamonte provided a presentation on the project. <br />Board member Woodard moved to approve Option A, Traditional for an <br />enhancement grant in an amount <br />not to exceed $42,057.86 payable to Brotamonte Asset 1, LLC., and associated development agreement, for <br />nd <br />infrastructure improvements to apartment building complex located at 315 N. 2 Street with payment to be <br />MOTION PASSED. <br /> . Board member Ojeda seconded. <br />remitted at the completion of the project <br />Ayes: Vice-President Cooksley, Board members Woodard, Engelken <br />and Ojeda <br />Nays: President Warren, Board members Martin and Clausen <br />Absent: None <br /> <br />(b) <br />Consider approval or other action authorizing an incentive grant in an amount not to exceed <br />infrastructure improvements to property located at 1010 S. Broadway, Street, with payment to be <br /> <br />remitted at the completion of the project - S. Livingston <br />Economic Development Coordinator Scott Livingston presented a summary <br />Hardware, Inc., estimates $611,559.28 investment to upgrade and request an incentive grant not to <br />exceed $250,000.00. <br /> <br />Board member Woodard moved to give to the project 25% of $611,559.28 <br />Hardware, Inc., and associated development agreement, for infrastructure improvements to property <br />located at 1010 S. Broadway, Street, with payment to be remitted at the completion of the project. <br />MOTION PASSED. <br />Board member Martin seconded. <br /> <br />Ayes: President Warren, Vice-President Cooksley, Board members <br />Woodard, Clausen and Martin <br />Nays: Board members Ojeda and Engelken <br />Absent: None <br />(c) <br />Consider approval or other action to adopt proposed amendments to the By-Laws of the La Porte <br />-laws to the <br /> <br />City Council for consideration S. Livingston <br /> <br />Authorization Item c was taken out of order. See item above. <br />4. SET DATE FOR NEXT MEETING <br /> <br /> <br />Page 2 of 3 <br />January 11, 2016, La Porte Development Corporation Board Minutes <br /> <br /> <br /> <br /> <br />