06-28-21 Regular Meeting of the La Porte Development Corporation Board

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION BOARD AGENDA ITEM Appropriation Agenda Date Requested: June 28, 2021 015 General CIP Requested By: Jason Weeks, Asst. City Mgr. Enhancement Grant Source of Funds: Department: Administration/CMO 015-9892-993-1100 Account Number: Report Resolution Ordinance $167,339 Amount Budgeted: $12,557.04 Amount Requested: Exhibits: Application, Vendor Invoices & Proof of Payment and Photos of before & after project Budgeted Item: Yes No SUMMARY & RECOMMENDATION On January 25, 2021, the La Porte Development Corporation Board approved an enhancement grant to Bryan and Brandy Gwin for building and signage improvements to the Boats Etc. building, which is located at 331 S. Highway 146 in La Porte, Texas. The applicants was interested in installing stucco finishing to the entire front of their building with the addition of a new LED sign on the front of the building. The applicant estimated a total capital investment of $24,982.82 for this project, of which 50% ($12,491.41) would be eligible for reimbursement once the project has been completed. On May 25, 2021, the applicant provided staff with receipts, canceled checks and photo of the final project for staff and the Board to approve for reimbursement payment. Below is the summary of receipts for the Stucco masonry finishing and signage: Stucco Masonry: Zuniga Stucco (Pasadena) - $15,000.00 Signage: Coast Graphics & Signs (Rosharon) - $10,114.07 The applicant expended a total of $25,114.07 on this enhancement grant project. This is $131.25 more than estimated originally. The additional cost was due to the sign contractor failing to include the $131.25 sign permit in the estimate. Therefore, staff recommends the Board approving 50% of the total cost of project, which is nearly $66 more than the amount approved not to exceed. Staff believes the additional amount is