10-22-12 Meeting of the La Porte Development Corporation Board of Directors

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September 19, 2012 Stacey F. Osborne Economic Development Coordinator City of La Porte 604 W. Fairmont Parkway La Porte, Texas 77571 Re: Intergulf Corporation’s Office Expansion Dear Ms. Osborne, I wanted to thank you for your time Monday morningand I’m encouraged to learn that the City of La Porte has established an economic development program that can provide incentives to businesses that are considering locatingto La Porte. As we discussed, we are interested in 1.07 acres of property located on Hwy. 146 S frontage just south of West C Street. This site serves as an excellent location between our three facilities and easy access to major highways. Our plan is to build an office / administration building to support our three facilities. This proposed office building would be our main headquarters for executives, accounting, administration, human resources, information technology, middle management, sales, etc. We expect to move an estimated 36 employeesimmediately from various offices inPasadena, Kemah and La Porte’s Battleground Industrial District with plans for a 20% employee growth factor. We are currently working on our finalized budget, but we are planning on a capital expense in the rangeof $2.0-$2.1 million for the acquisition of the property and the construction of a two story 14,000 –20,000 square foot building. The current property size of 1.07 acres will have significant limitations on parking spaces, fire access and future growth. Adjacent to the south side of the property is a drainage easement owned by the City of La Porte that measures approximately 80’ x 266’. This propertycould be improved with box culverts and covered to add an additional 0.49 acres ofproperty thus adding anadditional parking area that wouldsolve our perceived limitations. This improvement would also benefit the city as itwould no longer need to maintain a large drainage ditch that is currently experiencing slope failure and is an eyesore. Additionally, we are concerned that the 1.07 acreproperty could be impacted by the current slope failure of the drainage ditch causing future foundation issues. As you can see, this improvement would be beneficial to both Intergulf Corp. and the City of La Porte.