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Economic Development Coordinator Scott Livingston presented a summary for the proposed budget for <br /> La Porte Development Corporation Board for Fiscal Year 2015-2016, and information on formulating a <br /> Strategic Plan before the City can seek certification as an Accredited Economic Development <br /> Corporation (AEDO). <br /> City Manager Corby Alexander .commented there is a lot of value in the process, and becoming <br /> accredited will benefit the City. <br /> Economic Development Coordinator Scott Livingston distributed the current financial report and <br /> reviewed it. <br /> Board member Engelken moved to approve the budget and add $107,669.00 into the Enhancement <br /> Grant Program account. Then Board member Engelken withdrew his motion after some discussion. <br /> Vice-President Cooksley moved to approve the budget including an additional $107,669.00 to be <br /> transferred into the Enhancement Grant Program account. Board member Engelken seconded. <br /> MOTION PASSED. <br /> Ayes: President Warren, Vice-President Cooksley, Board members <br /> Engelken, Ojeda and Martin <br /> Nays: Board member Woodard <br /> Absent: Board member Clausen <br /> (e) Discussion and possible action regarding additional incentive programs—S. Livingston <br /> Economic Development Coordinator Scott Livingston presented a summary for additional incentive <br /> programs and recommendations for codifying the 10-year pay back model/program for new projects. <br /> Board member Ojeda commented that including in the policy that an applicant can receive up to 25% of <br /> the project's total capital expenditure will have every applicant expecting the entire 25%. <br /> City Manager Corby Alexander asked Board members if they wished to have the 25% measuring <br /> mechanism criteria removed from the scoring mechanism. <br /> Board member Ojeda questioned Mr. Livingston if he is utilizing the same criteria for new businesses <br /> and expansions. Mr. Livingston responded the 10-year pay back is for new projects, and there are 3 <br /> programs for existing businesses. <br /> Mr. Livingston advised Board members a decision does not have to be made tonight, and the item can <br /> come back with what the Board desires at a later date. <br /> President Warren commented the La Porte Development Corporation should not be in the business of <br /> redeveloping businesses, and business owners should have utilized their funds accordingly. <br /> Mr. Livingston reviewed all of the new programs for the Board to consider if they wanted to utilize either <br /> program. <br /> Vice-President Cooksley commented he looks at which project is best for the City as a whole. <br /> Mr. Livingston commented his understanding is the community focus. <br /> Page 3 of 4 <br /> July 7,2015,La Porte Development Corporation Board Minutes <br />