06-12-17 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 June 12, 2017June 12, 2017AppropriationAppropriation Agenda Date Requested:Agenda Date Requested: Fund 038Fund 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: $57,372$57,372 Amount Requested:Amount Requested: Exhibits: Budgeted Item:Budgeted Item:YESYESNONO 1.Public hearing noticePublic hearing notice 2.Sales ContractSales Contract SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS At the March 27, 2017 EDC Board meeting, staff discussed a potential project for the BoardsAt the March 27, 2017 EDC Board meeting, staff discussed a potential project for the Boardsconsiderationco nsideration- purchase of property just north of the Special programs Center at 1218 S. Broadway. The City entered into a purchase of property just north of the Special programs Center at 1218 S. Broadway. The City entered into a sales contract (attached) and has completed a Phase I environmental report, which indicated no concerns. The sales contract (attached) and has completed a Phase I environmental report, which indicated no concerns. The Board authorized staff to post a 60Board authorized staff to post a 60--day public hearing notice in the Bay Area Observer. It appeared in the March day public hearing notice in the Bay Area Observer. It appeared in the March 30 edition. No qualified petition was received in regard to this proposed project.30 edition. No qualified petition was received in regard to this proposed project. The purchase of the property is proposed to be split between two funding sources, of which the Board is one. The purchase of the property is proposed to be split between two funding sources, of which the Board is one. The purchase of this property is authorized under Section 505.152 of the Local Government CodeThe purchase of this property is authorized under Section 505.152 of the Local Government Code-- Projects Projects Related to Recreational or Community Facilities. At this time, the proposed use for the property is additional Related to Recreational or Community Facilities. At this time, the proposed use for the property is additional parking that will serve the Recreation Center/Senior Center/Special Programs Center complex. parking that will serve the Recreation Center/Senior Center/Special Programs Center complex. The EDC budget was evaluated and it was determined that $57,372 could be allocated for this project. Savings The EDC budget was evaluated and it was determined that $57,372 could be allocated for this project. Savings from position vacancy and eliminating related expenditures freed up these funds. from position vacancy and eliminating related expenditures freed up these funds. At this time, staff is recommending that the Board declare the acquisition of 1218 S. Broadway a project of the At this time, staff is recommending that the Board declare the acquisition of 1218 S. Broadway a project of the Board. Action Required by the La Porte Development Corporation:Action Required by the La Porte Development Corporation: Consider approval or other action to declare the acquisition of 1218 S. Broadway a project of the Development Consider approval or other action to declare the acquisition of 1218 S. Broadway a project of the Development Corporation with a budget not to exceed $57,372.00.Corporation with a budget not to exceed $57,372.00. Approved for the La Porte Development Corporation AgendaApproved for the La Porte Development Corporation Agenda Corby D. Alexander, City ManagerCorby D. Alexander, City ManagerDateDate