03-04-04 La Porte Development Corporation Minutes

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.. tD Op~ality 1 1999 ~. .~ _ 1 The Past In 1984 the City of La Porte adopted a Comprehensive Plan, a document that out- lined the populace's vision for the City. In 1985 the voters, by a large majority, approved $25 million in projects to implement some of the key elements of the Plan. Some of the capital improvements included Bay Forest Golf Course, the La Porte Recreation & Fitness Center, East "E" Street Improvements, the Little Cedar Bayou Park Complex and Wave Pool, Fire Station Number Two, Northwest Park, the Fire Training Facility, Water Distribution and Sewer Collection and Treatment Facilities all of which have enhanced the quality of life for La Porte residents. Tbe Present City Council has selectedJanuary 1~ 1999, as the date for an election to com- plement and continue the much-needed capital improvements required by the City to grow progressively. The ballot will contain proposals for a Section 4B 1/2 Cent Sales Tax, and the issuance of General Obligation Bonds. Sales tax revenue is paid by everyone who purchases anything in our City limits. So, every- one who makes a purchase will contribute to the projects funded by this very minimal tax. The Future If the voters approve, the Section 4B Sales Tax is expected to generate about $750,000 in revenue per year. The projected revenue will allow the sale of bonds which will enable the City to build a new library on land donated to the City, to replace the 32 year old library that we have outgrown. These bonds would also allow the City to complete the Bay Area Boulevard "missing link" between Fairmont Pkwy. and Spencer Hwy. Just as you borrow money from the bank for big projects, cities sell bonds for the same reason. Bonds issued by a Section 4B corporation would be repaid by future revenues generated by the sales tax. General Obligation Bonds are backed by the current 0.71 cent property tax rate, which will not increase if the propositions are approved. There are five propo- sitions on the ballot for capital improvements that are needed now. Approval of these five propositions will allow a $3.925 million sale of bonds. Again, there would be NO NEED for a property tax increase to pay for these bonds. Proposition 1 would fInance $1,500,000 for expansion and renovation of portions of City Hall. Since it was built, the population of La Porte has grown from 12,899 (1978) to over 33,500; and the number of employees housed in the building has more than doubled. Proposition 2 e. would fInance $750,000 for a Fire Station on the South side of La Porte, to replace the . . aging station currently being leased from the City of Shoreacres with a modern facility . capable of providing for future growth. Proposition 3 would Imance $750,000 for a Fire Station on the NW side to replace the aging station in Lomax. The station needs to be replaced with a modern facility capable of housing cur- rent and future staff and equipment. Proposition 4: would Imance $675,000 for paving 5th Street, a major artery connecting Main St. and _ Barbour's Cut. This project should positively affect traffic and pedestrian patterns in .. the northern portion of the City, while promoting redevelopment. Proposition 5 would Imance $250,000 for replacement of the 38 year old San Jacinto Swimming Pool at Central Park. The replacement pool will be a new state-of-the-art pool, similar to the Northwest Park Pool. Cast your vote and help der'l7de La Porte~s future.. , !Ii /l/ Ii z Ii -~ ./" ,'l.; 'j.f} < .~. '" if .c