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4. <br />5. <br />14 <br />7. <br />8. <br />Board member Engelken moved to authorize staff to reimburse Claudia Cox on behalf of Entrust <br />Professional Insurance in the amount of $17,611.00 for completion of an enhancement grant <br />project. Board member Clausen seconded. <br />Ayes: President Warren, Board members Clausen, Martin, Engelken <br />Ojeda and Woodard <br />Nays: None <br />Absent: Vice -President Cooksley <br />PRESENTATION <br />(a) Receive presentation regarding proposed revisions to the monthly Financial Report — S. <br />Livingston <br />Economic Development Coordinator Scott Livingston presented a summary and provided proposed <br />information that will be added to the Financial Report next month. <br />Board member Ojeda questioned when will the Board get a decision regarding the location of <br />Project Nebula as to whether it will be in Texas or Louisiana. Economic Development Coordinator <br />Scott Livingston responded possibly by the summer of 2014. <br />Board member Ojeda questioned why the $15,000.00 had not been paid to the Richard Industrial <br />Group after the Board approved the commitment. Mr. Livingston responded staff was directed to <br />include some stipulations and conditions in the Developer Agreement that were very specific in <br />terms of reporting mechanisms which has delayed the process. Mr. Livingston advised the item will <br />come back to the upcoming meeting in March. Board member Ojeda requested an item be added <br />to the upcoming agenda regarding Workforce Training Incentives. <br />SET DATE FOR NEXT MEETING — S. Livingston <br />Board members set the next meeting date for March 24, 2014, at 5:00 p.m. <br />STAFF REPORTS <br />(a) Receive Financial Report — M. Dolby <br />Finance Director Michael Dolby presented the Financial Report. <br />Board member Engelken questioned if the sales tax issue with Monument Inn has been solved. Finance <br />Director Michael Dolby responded the city has made arrangements to pay the taxes back over a five <br />year period. <br />BOARD MEMBER COMMENTS regarding matters appearing on agenda; recognition of community <br />members, city employees, and upcoming events; inquiry of staff regarding specific factual <br />information or existing policies. <br />There were no comments. <br />EXECUTIVE SESSION — The La Porte Development Corporation reserves the right to meet in <br />executive session on any agenda item should the need arise and if authorized by the Texas Open <br />Meetings Act, Title 5, Chapter 551, of the Texas Government Code. <br />There was no executive session. <br />Page 2 of 3 <br />February 10, 2014, La Porte Development Corporation Board Minutes <br />