03-27-17 Meeting of the La Porte Development Corporation Board

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEMITEM March 27, 2017March 27, 2017AppropriationAppropriation Agenda Date Requested:Agenda Date Requested: 001/037/038001/037/038 Traci LeachTraci LeachSource of Funds:Source of Funds: Requested By:Requested By: Economic Development/TourismEconomic Development/TourismAccount Number:Account Number: Department: Report:Resolution:Resolution:Ordinance:Ordinance:Amount Budgeted:Amount Budgeted: $177,000$177,000 Amount Requested:Amount Requested: Exhibits: Budgeted Item:Budgeted Item:YESYESNONO 1.AppraisalAppraisal 2.Phase One ReportPhase One Report 3.Notice fo the paperNotice fo the paper SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS At the January 9, 2017 City Council meeting, acquisition of 1218 S. Broadway, just north of the Special Programs At the January 9, 2017 City Council meeting, acquisition of 1218 S. Broadway, just north of the Special Programs Center, was discussed and staff was directed to enter into negotiations with the owner.Center, was discussed and staff was directed to enter into negotiations with the owner. An appraisal and a Phase One environmental assessment were completed. The Phase One report indicated no An appraisal and a Phase One environmental assessment were completed. The Phase One report indicated no environmental concerns on the property. The sales price for the property is $177,000.environmental concerns on the property. The sales price for the property is $177,000. At this time, staff is requesting that the EDC Board designate acquisition of this property a project of the Board At this time, staff is requesting that the EDC Board designate acquisition of this property a project of the Board and allow staff to post the required 60and allow staff to post the required 60--day notice. The purchase of this property would be authorized under day notice. The purchase of this property would be authorized under Section 505.152 of the Local Government CodeSection 505.152 of the Local Government Code-- Projects Related to Recreational or Community Facilities. The Projects Related to Recreational or Community Facilities. The proposed use for the property is additional parking that will serve the Recreation Center/Senior Center/Special proposed use for the property is additional parking that will serve the Recreation Center/Senior Center/Special Programs Center complex. Programs Center complex. While not specifically budgeted, there is funding available for this expenditure due to reWhile not specifically budgeted, there is funding available for this expenditure due to re--allocation of currently allocation of currently budgeted funds in both General Fund and Development Corporation Fund budgets (salary lapse due to position budgeted funds in both General Fund and Development Corporation Fund budgets (salary lapse due to position vacancy and general Fund Contingency are the primary line items that will be revacancy and general Fund Contingency are the primary line items that will be re--allocated). allocated). Action Required by the La Porte Development Corporation:Action Required by the La Porte Development Corporation: Consider approval or other action authorizing staff to post required 60 day notice for public hearing on project of Consider approval or other action authorizing staff to post required 60 day notice for public hearing on project of the La Porte Development Corporation Board for acquisition of real property located at 1218 S. Broadway for the La Porte Development Corporation Board for acquisition of real property located at 1218 S. Broadway for park/recreation purposes.park/recreation purposes. Approved for the La Porte Development Corporation AgendaApproved for the La Porte Development Corporation Agenda Corby D. Alexander, City ManagerCorby D. Alexander, City ManagerDateDate