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4. <br />Consider approval or other action concerning proposed expenditure of $1,000,000.00 by <br />the <br />Development Corporation to fund an incentive grant for drainage and street related <br />La Porte <br />infrastructure improvements for a plant expansion project in the Battleground Industrial District –S. <br />Osborne <br />Economic Development Coordinator Stacey Osborne was available for any questions by Board <br />members. <br />Board member Clausen moved toapprove theproposed expenditure of $1,000,000.00 by <br />the <br />Development Corporation to fund an incentive grant for drainage and street related <br />La Porte <br />infrastructure improvements for a plant expansion project in the Battleground Industrial District. <br />MOTION PASSED. <br />Board member Zemanekseconded. <br />Ayes: President Warren and Board members Clausen, Woodard, <br />Ojeda, Zemanek and Cooksley <br />Nays: None <br />Absent:Board member Engelken <br />5. <br />Consider approval or other action regarding proposed budget for the 2012-2013 La Porte <br />Development Corporation Board and provide staff with direction –S. Osborne <br />Economic Development Coordinator Stacey Osborne presenteda summary oftheproposed budget <br />for the 2012-2013 La Porte Development Corporation Board. <br />Board members directed staff to add an agenda item to the nextmeeting to ratify the $20,000.00 <br />already spent for the payout of the 908 West Main Street building. <br />Board member Woodard asked Assistant City Manager Traci Leach to provide him with the last two <br />years of bus ridership information from Harris County. Board member Woodard asked Economic <br />Development Coordinator Stacey Osborne to provide him with the retail study done in 2006, <br />questioning costof studyand what the studylooks for. Board member Woodard informed Finance <br />Director Michael Dolby that he will get in touchwith him eitherby phone or email to discuss what <br />the La Porte Economic Development CorporationBoardowns and its finances. <br />Board member Cooksley questioned staff about themeaning of 015in reference to the Main Street <br />Parking Lot. Finance Director Michael Dolby explained that 015 is the City improvement fund. <br />Economic Development Coordinator Stacey Osborne explained that whentheLa Porte Economic <br />DevelopmentCorporation Boardhasvoted on aproject, they will transfer funds fromtheLa Porte <br />Economic DevelopmentCorporationintothe City 015improvement fund. <br />Board memberWoodard questionedwhen the City Council would likeforthe La Porte Economic <br />DevelopmentCorporation to complete their review of the budget. City Manager Alexander stated <br />on or before August 13, 2012, as that is the date City Council will start Council’s budget review. <br />Board member Woodard asked Economic Development Coordinator Stacey Osborne to send <br />Board member Chuck Engelken an email addressing the details of the July 16, 2012, La Porte <br />Economic Development CorporationBoardmeeting to keep him in the loop. <br />Page 2of 4 <br />July 16, 2012, La Porte Development Corporation Board Minutes <br /> <br />