02-08-17 LPRDA/TIRZ - Laserfiche WebLink

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and being seconded by Director Turnquist, the Board voted unanimously to approve the FY2016-2017 Budget. CONSIDER DEVELOPMENT DISBURSEMENTS. Handouts were provided of the Agreed -Upon Procedures Report for construction, engineering and related costs reimbursable to Beazer Homes Texas LP and Senior Associates Inc., a copy is attached as Exhibit B; and a spreadsheet titled La Porte Developer Reimbursements -- Tax Year 2015 Values, dated 8/24/2016, a copy is attached as Exhibit C. Ms. Blake presented the Agreed -Upon Procedures Reimbursement Report and answered questions. Mr. Hawes went over the developer reimbursements and answered questions. Upon a motion duly made by Director Turnquist, and being seconded by Director Leopard, the Board voted unanimously to approve the developer disbursements (1) Retreat at Bay Forest in the amount of $46,635.50; (2) Beazer Homes in the amount of $17,940.04; (3) Senior Associates in the amount of $5,767.87; (4) Port Crossing -Liberty Property Limited Partnership in the amount of $1,454,627.70; and (5) the City Trunk Line payment in the amount of $311,858.45. Upon a motion duly made by Director Leopard, and being seconded by Director Turnquist, the Board voted unanimously to approve the Agreed - Upon Procedures Report for construction, engineering and related costs reimbursable to Beazer Homes Texas LP and Senior Associates, Inc. as presented. CONSIDER DEVELOPMENT AGREEMENT BY AND AMONG THE CITY OF LA PORTE, TEXAS, REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, TEXAS, LA PORTE REDEVELOPMENT AUTHORITY AND WESTERN SPHERICAL DEVELOPERS, LLC OR AN AFFILIATE THEREOF. (Bayforest Ranch, Ltd.) The Board reviewed the Development Agreement with Bayforest Ranch, Ltd., included in the Board agenda materials. Mr. Hawes noted the agreement was going to be amended to be between the Redevelopment Authority, Reinvestment Zone and Bayforest Ranch, Ltd. and the City would be removed from the agreement. After review and discussion, and motion was made by Director Porter, and seconded by Director Antone, and the Board voted unanimously to approve the Development Agreement among the Reinvestment Zone Number One, City of La Porte, Texas, La Porte Redevelopment Authority and Bayforest Ranch, Ltd., as amended removing the City of La Porte from the agreement. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO AUTHORITY INVOICES. Mr. Hawes presented the cash flow report and reviewed the invoices included in the Board agenda materials. Upon a motion duly made by Director Turnquist, and being seconded by Director Leopard, the Board voted unanimously to accept the cash flow report and approved payment of invoices, as presented. RECEIVE UPDATES FROM THE CITY, DEVELOPERS AND STAFF WITH REGARD TO DEVELOPMENT WITHIN THE ZONE. No action from the Board was required. BOARD MEMBER COMMENTS: a. Matters appearing on agenda; and 2 1 P a g e