Laserfiche WebLink
the Agreed Upon Procedures Report for Liberty Property Limited Partnership with an estimated cost <br />ranging from $4,000.00 to $6,000.00, as presented. <br />RECEIVE AND CONSIDER AGREED UPON PROCEDURES REPORT FOR LIBERTY PROPERTY <br />LIMITED PARTNERSHIP; AND AUTHORIZE APPROPRIATE ACTION. <br />Ms. Blake presented the Agreed -Upon Procedures Report for construction, engineering and related <br />costs reimbursable to Liberty Property Limited Partnership, included in the Board agenda materials. <br />She reported interest was calculated at the prime commercial lending rate resulting and reviewed <br />payments made by the developer in Schedule A. She reported the total amount payable to the <br />developer as of November 8, 2017, is $1,195,733.22. Upon a motion duly made by Director Beasley, <br />and being seconded by Director janda, the Board voted unanimously to approve the Agreed -Upon <br />Procedures Report for Liberty Property Limited Partnership, as presented. <br />RECEIVE AND CONSIDER DEVELOPMENT AGREEMENT WITH VISTA OAKS GB, LLC <br />Mr. Hawes reported a new development is being proposed within the zone's boundaries and the <br />developer is seeking reimbursement of public improvement costs associated with the development <br />He reviewed the anticipated taxable value and revenues; project costs; projected assessed valuations <br />and tax increment of the development. He went over the Development Agreement with Vista Oaks <br />GB, LLC, included in the Board agenda materials and answered questions.Upon a motion duly made <br />by Director Pool, and being seconded by Director Janda, the Board voted unanimously to approve the <br />Development Agreement with Vista Oaks G13, LLC. <br />CONSIDER TAX YEAR 2016 DEVELOPER DISBURSEMENTS. <br />Mr. Hawes reviewed the 2016 developer disbursements, including a refund to the school district for <br />overpayment increment the last two years. Upon a motion duly made by Director Antone, and being <br />seconded by Director Pool, the Board voted unanimously to authorize developer disbursements for <br />2016 as follows: (1) Retreat at Bay Forest in the amount of $21,997,31; (3) Beazer Homes Texas LP <br />and Senior Associates in the amount of $45,443.07; (4) Liberty Property Ltd. in the amount of <br />$ 1,3 2 5,5 82.45; and La Porte I S D refund in the amount of $89 SIP879. <br />CONSIDER APPROVAL OR OTHER ACTION REGARDING AUTHORITY INVOICES, INCLUDING <br />CONTRACTUAL OBLIGATIONS TO REIMBURSE LA PORTE ISD. <br />Mr. Hawes reviewed the December 2017 Revenue/Expense Summary and went over invoices <br />included in the Board agenda materials. Upon a motion duly made by Director Beasley, and being <br />seconded by Director Pool, the Board voted unanimously to ratify payment of invoicespaid in <br />November, 2017, and approved payment of current invoices being presented. <br />RECEIVE UPDATES FROM THE CITY, DEVELOPERS AND STAFF ABOUT DEVELOPMENT WITHIN <br />THE ZONE. <br />BOARD MEMBER COMMENTS. <br />a. Matters appearing on agenda <br />b. Inquiry of staff regarding specific factual information or, existing policy <br />2 Page <br />