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I • MINUTES OF THE MEETING OF THE ' LA PORTE REDEVELOPMENT AUTHORITY CITY OF LA PORTE, TEXAS BOARD OF DIRECTORS July 23, 2014 ' CALL TO ORDER. 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, July 23, 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 Turnquist 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 Graham, Pool and Pfeiffer, thus constituting a quorum. Also present were David Hawes and Linda Clayton, both of Hawes Hill ' Calderon, LLP, and Scott Livingston, La Porte EDC Director. Others attending the meeting were Kenneth Schick, Senior Associates, Inc.; and Ryan Lovell, Port Crossing Land LP. Vice - Chairman Martin called the meeting to order at 6:33 p.m. CONSIDER APPROVAL OF THE MINUTES OF BOARD OF DIRECTORS MEETING HELD ON JUNE 11, 2014. ' Upon a motion duly made by Director Turnquist, and being seconded by Director Leopard, the Board voted to approve the Minutes of the June 1, 2014, Board meeting, as presented. Director Porter abstained. CONSIDER DEVELOPMENT AGREEMENT WITH SPENCER ROAD VENTURE (SENIOR ASSOCIATES, INC.). ' Mr. Hawes reported after the parties and their respective attorneys had reviewed the agreement, revisions had been made to the Agreement provided in the Board agenda materials. ' Mr. Hawes handed out a redline version of the proposed new Agreement, a copy is attached as Exhibit A. Mr. Hawes introduced Mr. Kenneth Schick representing Senior Associates, Inc. to explain the purpose of the Agreement. Mr. Hawes went through the changes in the Agreement and answered questions. Upon a motion duly made by Director Porter, and being seconded by Director Turnquist, the Board. voted unanimously to approve the revised Agreement with Senior Associates, Inc., as presented.