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MINUTES OF THE JOINT MEETING OF THE LA PORTE REDEVELOPMENT AUTHORITY and LA PORTE TAX INCREMENT REINVESTMENT ZONE BOARD OF DIRECTORS August 21, 2019 DETERMINE QUORUM; CALL TO ORDER. The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, and La Porte Tax Increment Reinvestment Zone, held a regular joint meeting, open to the public, on Wednesday, August 21, 2019, 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 Barry Beasley Position 2 Alton Porter Position 3 Horace Leopard Position 4 Doug Martin, Chairman Position 5 Mark Goodwin Position 6 Chester Pool, Vice -Chair Position 7 David Janda Position 8 Vacant Position 9 and all of the above were present, with the exception of Directors Antone and Porter, thus constituting a quorum. Also present were David Hawes and Linda Clayton, both of Hawes Hill & Associates, LLP; Corby Alexander, Jason Weeks and Ryan Cramer, City of La Porte; and Javier Morales, J. Morales, Inc. Chairman Martin called the meeting to order at 6:28 p.m. APPROVE MINUTES OF THE JOINT LA PORTE REDEVELOPMENT AUTHORITY AND LA PORTE TAX INCREMENT REINVESMENT ZONE MEETING HELD MAY 22, 2019. Upon a motion duly made by Director Pool, and being seconded by Director Janda, the Board voted unanimously to approve the Minutes of the Joint La Porte Redevelopment Authority and La Porte Tax Increment Reinvestment Zone meeting held May 22, 2019. CONSIDER FY2019-2020 ANNUAL BUDGET. Mr. Hawes went over the proposed FY2019-FY2020 Budget, a copy is attached as Exhibit A. He stated the Capital Improvements budget will need to be amended once we receive the bids for M Street. He stated the ISD funds projected may need to be adjusted once we receive final numbers. Upon a motion duly made by Director Beasley, and being seconded by Director Pool, the Board voted unanimously to approve the FY2019-FY2020 Budget, as presented. CONSIDER INCREMENT PAYMENTS TO DEVELOPERS IN ACCORDANCE WITH THE DEVELOPER AGREEMENTS. Mr. Hawes went over the developer disbursements for 2018 tax year and remaining balances owed to the developers. He reported the disbursements do not include any ISD funds and he was recommending not making any ISD payments. Mr. Alexander stated there were no buildings on the Senior Associates' property portion, and nothing is being built. Mr. Hawes stated he would check with Patrick in his office to verify and recommending not to make the payment to Senior Associates. Upon a motion duly made by Director Janda, and being seconded by Director Goodwin, the Board voted unanimously to approve developer disbursements (a) Retreat at Bay Forest, LP in the amount