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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEM <br />Budget <br />Agenda Date Requested:13January 2014 <br />Source of Funds:4B Board <br />Requested By:Scott D. Livingston <br />Account Number: 038 (General Revenue) <br />Department: Administration/Economic Development <br />Amount Budgeted: N/A <br />Report: Resolution:Ordinance: <br />Amount Requested:$66,000 <br />Exhibit:Development Agreement for RJI <br />Budgeted Item:YESNO <br />Exhibit: <br />SUMMARY & RECOMMENDATION <br />On July 8, 2013, Rob Johnson, Owner of Rob Johnson Interests, requested an economic <br />$66,000 <br />development incentive in the amount up to to demolish and remove theconcrete slabs <br />ontwo (2) tracts of land for Phase #1 of a proposed, new retail development in thesouthwest <br />quadrant of Spencer Highway and SH 146. <br />Per the Board’s directiononJuly 8, 2013, staff published at least 60 day notice of a public <br />hearingto discuss the project during the 4B Board meeting on September23,2013.By <br />September 23,2013, no qualified petition had been received. The project was presented and <br />discussed at both the 4B Board and City Council meetings on September 23, 2013. <br />The enclosed development agreement outlines theminimum thresholds for key performance <br />indicators such asactual expenses for infrastructure and site improvements, capital investment, <br />and primary job creation. <br />Action Required by the La Porte Development Corporation Board: <br />Consider approval or other action to authorize Richard Warren, President of the 4B Board, to <br />execute a development agreement in anamount not to exceed $66,000forRob Johnson Interests. <br />Approved for the La Porte Development CorporationAgenda <br />Corby D. Alexander,City ManagerDate <br /> <br />