04-23-07 Special Called Meeting of the La Porte Development Corporation Board of Directors

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FundinQ The proposed agreement would split the funding on a 40%-60% basis, with the City of La Porte funding approximately 40%, and the City of Pasadena funding approximately 60% of the total project. As you may recall, the City of La Porte has $2M ready for the project. Through the methods related in the previous paragraph, staffs of both cities are confident that we can reduce the total cost of the project to approximately $9M. The following is a summary of the proposed cost savings, based on the preliminary cost estimate, and identified cost savings measures. Council gave direction to sell Certificates of Obligation for the additional $1.5M that will be required for the La Porte share. Staff Recommendation The La Porte Boy's Baseball Association is very much in favor of consolidating their baseball operations for league play to a single location. Although if this plan goes through, they will continue to practice at the Fairmont fields, I'm sure the surrounding homeowners will be grateful for having organized activities end at 9 pm instead of 11 pm every night. The ability to consolidate games at one site will allow them to provide their maintenance activities more effectively. After discussing the project and issues brought forth, if Council directs us to move forward with the project, we are proposing the following action plan: · Prepare an Interlocal Agreement between the two cities for Design Services. The Selection process for the architect/engineering firm would be included in the agreement. This agreement should take 120- 150 days to complete. · A second Interlocal Agreement would then be presented, for Construction and Operations, with assigned areas of operational responsibility and facility oversight. Construction of the facility, depending on weather and other considerations, should also be completed in 120-150 days. Given lead time and contingencies, the entire project should be completed somewhere in the last quarter of 2007 or first quarter of 2008. · Council should note that once a decision has been made on the joint venture sports complex, we can move forward with design of the Westside park property. The design concept is set for the park, but will require changing if the joint venture project is scrapped. FinancinQ Options Michael Dolby will discuss potential funding options for this project.