Laserfiche WebLink
REQUEST FOR LA PORTE ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM <br />Agenda Date Requested: 6/27/11 <br />Requested By: Stacey Osborne <br />Department: CMO <br />Report: X Resolution: Ordinance: <br />Exhibits: Application <br />Exhibits: Evaluation Sununary <br />Exhibits: <br />Appropriation <br />Source of Funds: <br />Account Number: 15- 9892 - 993 -1100 <br />Amount Budgeted: S200,000 <br />Amount Requested: S25,000 <br />Budgeted Item: YES NO <br />SUMMARY & RECOMMENDATION <br />In the 2008 -09 budget year, the La Porte Economic Development Corporation agreed to fund an entrancement grant <br />program for the Main Street Overlay District. The program offered matching grants of up to $25,000 for businesses <br />in the Main Street Overlay District to improve building facades. The project was allotted $200,000. The goals of the <br />project were to beautify Main Street, to entrance Main Street`s appeal to new businesses and visitors, and to add <br />value to the Citv of La Porte. <br />Donald E. Hulen has submitted a grant application for his business, Real Cheap Tools, which is located at 111 South <br />S Street. The Entrancement Grant Application Committee met to discuss the application, and agreed that it should <br />be approved for an amount not to exceed $25,000. The actual award will be one -half of the amount Mr. Hulen <br />spends on approved expenses for the project up to $25,000, and will be contingent upon the project being completed <br />as indicated in this grant application. <br />Attached is the application that Mr. Hulen submitted, as well as an evaluation summary and comments regarding <br />required changes and acknowledged non - conformities. <br />The committee recommends that the Board conditionally award a grant in an amount not to exceed $25,000, based <br />on receipts and completion of work as indicated. Noted changes must be made to original plans in order for grant <br />monies to be awarded. <br />Action Required by Economic Development Corporation: <br />Consider approving a grant amount not to exceed $25,000 for Mr. Hulen and Real Cheap Tools, to be awarded at the <br />completion of the project, conditional upon receipts and completion of work as indicated. <br />Approved for La Porte Development Corporation Agenda <br />Ron Bottoms, City Manager <br />date <br />