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Board member Engelken asked how the Board will regain losses if the business fails. Mr. Livingston <br />responded the property will be improved. Mr. Livingston also advised the figures are based on the two <br />years the restaurant has been in business at the Baytown location. <br /> <br />Kris Gant, with Gantstein Esquire, LLC, advised the Board that both the restaurant and parking lot are <br />under contract. <br /> <br />Board member Engelken questioned if there would be outdoor noise and late hours activity in the <br />parking lot from patrons that would disturb the neighborhoods. Mr. Gant responded the Pipeline Grill is <br />a restaurant and not a bar and the servers are required to be TABC certified and Gantstein Esquire, <br />LLC, has a strict policy not to sell too much alcohol to one individual. <br /> <br />Board member Martin commented he would be more comfortable awarding an economic development <br />grant at 25 percent <br />Board member Martin moved to authorizing Staff to publish 60-day notice of a public hearing to <br />consider awarding an economic development grant to Gantstein Esquire, LLC, for an amount not to <br />exceed $300,000 or equal to 25% of the project expenditures not to exceed $300,000. Board member <br />MOTION PASSED <br />Ojeda seconded. . <br />Ayes: President Warren, Vice-President Cooksley, Board members <br />Ojeda, Engelken and Martin <br />Nays: None <br /> Absent: Board members Clausen and Woodard <br /> <br />3. SET DATE FOR NEXT MEETING <br />S. Livingston <br /> <br />Board members set the next meeting dates for Monday, February 9, 2015, at 5:00 p.m. and Monday, <br />February 23, 2015, at 5:00 p.m. <br /> <br />4. STAFF REPORTS <br />(a) Receive Financial Report M. Dolby <br /> <br />Finance Director Michael Dolby provided a report. <br /> <br />Economic Development Coordinator Scott Livingston reported he is awaiting a letter from Project <br />Nebula/Ineos confirming they will not be moving forward with the second phase of the project and will report <br />back to the Board in March. <br /> <br />BOARD MEMBER COMMENTS <br />regarding matters appearing on agenda; recognition of community <br />5. <br />members, city employees, and upcoming events; inquiry of staff regarding specific factual information <br />or existing policies. <br />Board member Ojeda asked about the lot that is for sale by Rob Johnson <br />. Economic Development <br /> <br />Coordinator Livingston advised he will inquire of Mr. Johnson to confirm if the lot is for sale. <br /> <br />6. ADJOURN <br /> <br /> <br />There being no further business, Vice-President Cooksley moved to adjourn the meeting at 5:44 p.m. <br />MOTION PASSED <br />Board member Martin seconded. . <br /> <br /> <br /> <br />Page 2 of 3 <br />January 26, 2015, La Porte Development Corporation Board Minutes <br /> <br /> <br /> <br /> <br />