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Economic Development Coordinator Scott Livingston presented a summary for the proposed budget for <br />La Porte Development Corporation Board for Fiscal Year 2015-2016, and information on formulating a <br />Strategic Plan before the City can seek certification as an Accredited Economic Development <br />Corporation (AEDO). <br /> <br />City Manager Corby Alexander commented there is a lot of value in the process, and becoming <br />accredited will benefit the City. <br /> <br />Economic Development Coordinator Scott Livingston distributed the current financial report and <br />reviewed it. <br /> <br />Board member Engelken moved to approve the budget and add $107,669.00 into the Enhancement <br />Grant Program account. Then Board member Engelken withdrew his motion after some discussion. <br /> <br />Vice-President Cooksley moved to approve the budget including an additional $107,669.00 to be <br />transferred into the Enhancement Grant Program account. Board member Engelken seconded. <br />MOTION PASSED <br />. <br /> <br />Ayes: President Warren, Vice-President Cooksley, Board members <br />Engelken, Ojeda and Martin <br /> Nays: Board member Woodard <br /> Absent: Board member Clausen <br />(e) <br />Discussion and possible action regarding additional incentive programs S. Livingston <br />Economic Development Coordinator Scott Livingston presented a summary for additional incentive <br />programs and recommendations for codifying the 10-year pay back model/program for new projects. <br /> <br />Board member Ojeda commented that including in the policy that an applicant can receive up to 25% of <br />the entire 25%. <br /> <br />City Manager Corby Alexander asked Board members if they wished to have the 25% measuring <br />mechanism criteria removed from the scoring mechanism. <br /> <br />Board member Ojeda questioned Mr. Livingston if he is utilizing the same criteria for new businesses <br />and expansions. Mr. Livingston responded the 10-year pay back is for new projects, and there are 3 <br />programs for existing businesses. <br /> <br />Mr. Livingston advised Board members a decision does not have to be made tonight, and the item can <br />come back with what the Board desires at a later date. <br /> <br />President Warren commented the La Porte Development Corporation should not be in the business of <br />redeveloping businesses, and business owners should have utilized their funds accordingly. <br /> <br />Mr. Livingston reviewed all of the new programs for the Board to consider if they wanted to utilize either <br />program. <br /> <br />Vice-President Cooksley commented he looks at which project is best for the City as a whole. <br /> <br />Mr. Livingston commented his understanding is the community focus. <br /> <br /> <br />Page 3 of 4 <br />July 7, 2015, La Porte Development Corporation Board Minutes <br /> <br /> <br /> <br /> <br />