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La Porte Redevelopment Authority, City of La Porte, Texas Minutes of the Board Meeting Held August 17, 2011 I. CalI to order— Lindsay Pfeiffer, President The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, held a meeting, open to the public, on the 27th day of April, 2011; the meeting was called to order at 6:35 p.m. in the City Council Chambers of the City council conference Room, 604 West Fairmont Parkway, La Porte, Texas; and the roll was called of the duly appointed members of the Board, to wit: Peggy Antone Position 1 Dave Turnquist Position 2 Alton Porter Position 3 Horace Leopard Position 4 Doug Martin Position 5 JJ Meza Position 6 Lloyd Graham Position 7 Chester Pool Position 8 Lin Pfeiffer Position 9 - Chairman and all of the above were present except Director Martin, and Graham, thus constituting a quorum_ Also present at the meeting were Steven Robinson, Ryan Lovell, Stacey Osborne, and David Hawes. 2. Consider approval of the minutes of Board of Directors Meeting held on April 27, 2011. Upon motion made by Director Pool, seconded by Director Meza, the board voted unanimously to approve minutes as presented. 3. Consider Approval of the La Porte Redevelopment Authority FY 2012 Budget. Mr. Hawes reviewed the budget with the board. Upon motion made by Director Leopard, seconded by Director Pool, the board voted unanimously to approve the FY 2012 Budget as presented. 4. Consider disbursement of Annual TM Revenue pursuant to developer agreement Mr. Hawes reviewed with the board the disbursements owed to eligible developers pursuant to their pro rasa share of tax increment value created by their projects. At this time, Port Crossing is the only eligible developer and was owed $1,205.754 from available tax increment revenues. Upon motion made by Director Antone, seconded by Director Turnquist, the board voted unanimously to approve the disbursements to eligible developers as presented.