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MINUTES OF THE MEETING OF THE LA PORTE REDEVELOPMENT AUTHORITY CITY OF LA PORTE, TEXAS BOARD OF DIRECTORS February 19, 2014 CALL TO ORDER — LINDSAY PFEIFFER, PRESIDENT. The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, held a regular meeting, open to the public, on Wednesday, February 19, 2014, at 6:30 p.m., in the Council Chambers of City Hall, 604 West Fairmont Parkway, La Porte, Texas, and the roll was called of the duly appointed members of the Board, to -wit: Peggy Antone, Secretary Position 1 Dave Tumquist Position 2 Alton Porter Position 3 Horace Leopard Position 4 Doug Martin, Vice Chair Position 5 JJ Meza Position 6 Lloyd Graham Position 7 Chester Pool Position 8 Lindsay Pfeiffer, Chair Position 9 and all of the above were present with the exception of Directors JJ Meza and Lloyd Graham, thus constituting a quorum. Also present were David Hawes and Linda Clayton, both of Hawes Hill Calderon, L.L.P.; and Scott Livingston EDC Director. Also attending the meeting was Paul Grohma, Grommx. Chairman Pfeiffer called the meeting to order at 6:31 p.m. CONSIDER APPROVAL OF THE MINUTES OF BOARD OF DIRECTORS MEETING HELD ON JANUARY 22, 2014. Upon a motion duly made by Director Pool, and being seconded by Director Martin, the Board voted unanimously to approve the minutes of January 22, 2014, as presented. CONSIDER APPROVAL OF DEVELOPMENT FINANCING AGREEMENT BETWEEN THE CITY OF LA PORTE, TAX INCREMENT REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, LA PORTE REDEVELOPMENT AUTHORITY, AND BEAZER HOMES TEXAS LP. Mr. Hawes presented the Development Agreement included in the Board agenda materials and answered questions. He stated the City has approved the agreement. Mr. Grohma stated the construction would start around mid to late May and will be completed in the first two weeks of November, excluding CenterPoint. Mr. Hawes reported this was a standard development agreement with the exception of the stipulations on page 5 under subsection (e). Upon a motion duly made by Director Porter, and being seconded by Director Turnquist, the Board voted unanimously to approve the Development Agreement.