04-22-13 Meeting of the La Porte Development Corporation Board of Directors

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION BOARD AGENDA ITEM Agenda Date Requested: 1/21/13 Requested By: Traci E. Leach Department: CMO Report: X Resolution: Ordinance: Exhibits: Public Hearing Notice Appropriation Source of Funds: Account Number: Amount Budgeted: $0 Amount Requested: $570,000 Budgeted Item: NO SUMMARY & RECOMMENDATION In the 2012 budget year, the La Porte Development Corporation Board agreed to fund improvements to Lomax Park and Arena. Originally, the EDC included half of the $1,200,000 project budget in the FY 12 budget, with the other 50% coming from the General Fund. Funds have already been expended for design and building demolition, leaving $1,030,000 for the construction of the new restroom/concession building and the arena improvements. Since that time, the City has been working with an architect to design and bid the project. Bids were received on July 9 but were $520,000 over the construction budget. Over the course of several Council meetings, staff received direction to move forward with a single phase project that included all components of the original two phase project. During the December 10, 2012 meeting, Council directed staff to approach the EDC regarding funding the additional $570,000 to construct the project. A public hearing was scheduled after the expiration of the 60 -day period, which was April 15. No qualified petition was received by April 15. At this time, staff recommends that the Board approve the appropriation of the additional funding in the amount not to exceed $570,000. Action Required by La Porte Development Corporation Board: 1. Conduct public hearing. 2. Consider approval or other action to appropriate $570,000 in additional funding for the construction of Lomax Park and Arena Improvements. Approved for La Porte Development Corporation Board Agenda Corby D. Alexander, City Manager Date