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requested to see the terms of the development agreement before authorizing the expenditures for the <br /> project. Board member Woodard asked if the second option being presented is acceptable to Gantstein <br /> Esquire, LLC. Mr. Livingston responded no. Board member Woodard asked if the second option is a <br /> request from City Council. City Manager Corby Alexander clarified City Council was not comfortable <br /> authorizing the expenditure before viewing the actual terms of the development agreement, and the <br /> second option is not a request of City Council. <br /> Board member Woodard moved to accept and approve Option A for a development agreement with <br /> "Gantstein Esquire, LLC." in an amount not to exceed $300,000.00, and authorized Board President <br /> Richard Warren to sign and execute the economic development incentive agreement. President Warren <br /> seconded. MOTION PASSED. <br /> Ayes: President Warren, Board members Woodard, Engelken, Clausen <br /> and Martin <br /> Nays: Board member Ojeda <br /> Absent: Vice-President Cooksley <br /> Board member Ojeda commented she does not like either Option A or B and disagrees with the section <br /> that states, "No payment will be made for annual taxable retail sales which are less than $3.75 million." <br /> Board member Ojeda commented $3.75 million is a very high number with the economy being <br /> unpredictable and also advised she supports the full pro-rata scheme, and is in favor of the Pipeline <br /> Grill project. <br /> 3. DISCUSSION OR OTHER ACTION <br /> (a) Discussion or other action authorizing staff to submit any proposed revisions and/or amendments <br /> to the Bylaws of the La Porte Development Corporation to the La Porte City Council for approval— <br /> S. Livingston <br /> Economic Development Coordinator Scott Livingston presented a summary. <br /> Board member Woodard suggested a workshop meeting to discuss the current bylaws. <br /> City Manager Corby Alexander asked Board members to consider forwarding any input pertaining to <br /> changes and/or additions to the bylaws within the next two weeks to staff so an outline of suggested <br /> changes can be prepared. <br /> Board member Clausen suggested Board members review the bylaws; send items that may need to be <br /> changed to Corby Alexander or Scott Livingston for a list/outline, and staff can propose paragraphs to <br /> speed the process along. <br /> City Secretary Patrice Fogarty advised Board members she will forward the latest signed copy of <br /> bylaws for their review. <br /> (b) Discussion or other action authorizing staff to document rules and/or a policy for La Porte <br /> Development Corporation meeting norms, which the La Porte Development Corporation Board may <br /> wish to adopt—S. Livingston <br /> Economic Development Coordinator Scott Livingston presented a summary. <br /> Board member Ojeda proposed establishing guidelines for meeting standards that will enhance <br /> productivity during future meetings. <br /> Page 2 of 3 <br /> June 1,2015,La Porte Development Corporation Board Minutes <br />