07-07-15 Meeting of the La Porte Development Corporation Board of Directors

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requested to see the terms of the development agreement before authorizing the expenditures for the project. Board member Woodard asked if the second option being presented is acceptable to Gantstein Esquire, LLC. Mr. Livingston responded no. Board member Woodard asked if the second option is a request from City Council. City Manager Corby Alexander clarified City Council was not comfortable authorizing the expenditure before viewing the actual terms of the development agreement, and the second option is not a request of City Council. Board member Woodard moved to accept and approve Option A for a development agreement with LLC. in an amount not to exceed $300,000.00, and authorized Board President Richard Warren to sign and execute the economic development incentive agreement. President Warren MOTION PASSED seconded. . Ayes: President Warren, Board members Woodard, Engelken, Clausen and Martin Nays: Board member Ojeda Absent: Vice-President Cooksley Board member Ojeda commented she does not like either Option A or B and disagrees with the section that states, No payment will be made for annual taxable retail sales which are less than $3.75 million. Board member Ojeda commented $3.75 million is a very high number with the economy being unpredictable and also advised she supports the full pro-rata scheme, and is in favor of the Pipeline Grill project. 3. DISCUSSION OR OTHER ACTION (a) Discussion or other action authorizing staff to submit any proposed revisions and/or amendments to the Bylaws of the La Porte Development Corporation to the La Porte City Council for approval S. Livingston Economic Development Coordinator Scott Livingston presented a summary. Board member Woodard suggested a workshop meeting to discuss the current bylaws. City Manager Corby Alexander asked Board members to consider forwarding any input pertaining to changes and/or additions to the bylaws within the next two weeks to staff so an outline of suggested changes can be prepared. Board member Clausen suggested Board members review the bylaws; send items that may need to be changed to Corby Alexander or Scott Livingston for a list/outline, and staff can propose paragraphs to speed the process along. City Secretary Patrice Fogarty advised Board members she will forward the latest signed copy of bylaws for their review. (b) Discussion or other action authorizing staff to document rules and/or a policy for La Porte Development Corporation meeting norms, which the La Porte Development Corporation Board may wish to adopt S. Livingston Economic Development Coordinator Scott Livingston presented a summary. Board member Ojeda proposed establishing guidelines for meeting standards that will enhance productivity during future meetings. Page 2 of 3 June 1, 2015, La Porte Development Corporation Board Minutes