11-15-11 Meeting of the La Porte Development Corporation Board of Directors

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REQUEST FOR LA PORTE ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM Agenda Date Requested: 11/15/11 Appropriation Source of Funds: Requested By: Stacey Osborne Department: CMO Report: Resolution: Ordinance: Exhibit Exhibit Notice of Public Account Number: Amount Budgeted: Amount Requested: Budgeted Item: YES NO SUMMARY & RECOMMENDATION This Public Hearing is to receive public input on the proposed expenditures of La Porte Development Corporation funds to pay for four separate projects: 1) $45,000 to fund the installation of a dog park at Little Cedar Bayou Park; 2) $600,000 to fund the Lomax Park improvements; (3) $105,000 to fund playground improvements at Creekmont and Bay Oaks Parks; and (4) $40,000 to fund the construction of a restroom at Bay Forest Golf Course. Upon receipt of public input on this project, the Board will vote on whether to approve this expenditure as a project of the Economic Development Corporation. If approved, the project cannot be undertaken until the 60 day period following the publication date of the notice of public hearing. If during this 60 day period at least 10 percent of the registered voters file a petition requesting a public election on the proposed project, the project must be put on hold and submitted to the voters for approval. The projects were included in the budget approved by both the EDC Board and the City Council. Descriptions of each project are attached as an exhibit. Action Required by Economic Development Corporation: 1. Conduct public hearing 2. Consider approval or other action to accept the Dog Park, Lomax Arena Improvements, Playground Improvements at Creelcmont and Bay Oaks, and Golf Course restroom as projects of the Economic Development Corporation. Approved for La Porte Development Corporation Agenda Steve Gillett, Interim City Manager Date