02-25-08 Special Called Regular Meeting of the La Porte Development Corporation Board of Directors

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Economic Development Coordinator Gretchen Larson made the presentation and recommendation to City Council and answered questions. The board is only approving the project and not funds at this point. A motion was made by Board Member Engelken to approve the recommendation as presented by Ms. Larson the motion was seconded by Board Member Love and upon vote the motion carried unanimously. Ayes: Love, Muston, Clausen and Engelken. Nays: None Abstain: Matuszak Absent: None 6. Consider approval or other action regarding a budget adjustment of $8,333.00 to the 4B La Porte Development Corporation Budget for Fiscal Year 2008 in connection with the lease of property located at 908 Main Street. Economic Development Coordinator Gretchen Larson made the presentation and recommendation to City Council and answered questions. A motion was made by Board Member Engelken to approve the recommendation as presented by Ms. Larson. The motion was seconded by Board Member Love and upon vote the motion carried unanimously. Ayes: Love, Muston, Clausen, Engelken and Matuszak. Nays: None Abstain: None Absent: None 7. Consider approval or other action requesting the La Porte Economic Coordinator to obtain an appraisal of the Triangle Property located between San Jacinto, Broadway and East A Streets, also known as Five Point's in the City of La Porte, and to select a firm to obtain Architectural Renderings of a Town Square Project and to consider approval or other action regarding a budget adjustment of $30,000.00 to the 4B La Porte Development Corporation Budget for Fiscal Year 2008, in connection with Town Square Project. Economic Development Coordinator Gretchen Larson made the presentation and recommendation to Board. A motion was made by Board Member Love to approve the recommendation as presented by Ms. Larson. The motion was seconded by Board Member Clausen and upon vote the motion carried unanimously. Ayes: Love, Muston, Clausen, Engelken, and Matuszak Nays: None Abstain: None Absent: None 8. Announcements/Administrative Reports Assistant City Manager John Joerns and Economic Development Coordinator Gretchen Larson presented reports on State Highway 146 Overpasses Funding and a Sales Tax Analysis Report. The board requested staff to bring back more detail on the future of sales tax analysis to include all projects and the necessary funding. It was the consensus of the board to authorize the chairperson to sign a letter of support for the overpass funding to be sent to Congressman Nick Lampson. 9. Discussion of the March meeting schedule It was the consensus of the board to skip the March meeting and resume the first Monday schedule on April 7th, 2008. This meeting will need to begin at 5:00 p.m. due to a Special called Council meeting that evening. 10. Board Comments