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Vice-President Cooksley asked if the City owns the airport property and what will be done with the <br /> airport. City Manager Corby Alexander responded yes, and the City has accepted FFA funding for <br /> various improvements over the years that came with certain stipulations and approval processes if the <br /> airport was to be refurbished. <br /> Mr. Livingston advised Board members he can email the complex form of everything that has been <br /> discussed tonight regarding incentive programs. <br /> Board member Ojeda asked if a clause can be added to the agreement that will not allow applicants to <br /> sell businesses after receiving grants. Assistant City Attorney Clark Askins responded yes, a clause <br /> can be added to the terms of the agreement. Mr. Livingston added there is a clawback clause that if a <br /> business sold the property, they will lose the incentive. <br /> Vice-President Cooksley commented he would like an incentive program for existing businesses and <br /> one for new businesses. City Manager Corby Alexander responded if the Board only desires to have <br /> two options the incentive program can be scaled back. <br /> 4. SET DATE FOR NEXT MEETING—S. Livingston <br /> Board members set the next meeting date for Monday, August 24, 2015, at 5:00 p.m. <br /> 5. STAFF REPORT <br /> (a) Receive Financial Report— M. Dolby <br /> Economic Development Coordinator Scott Livingston presented the Financial Report. <br /> 6. BOARD MEMBER COMMENTS regarding matters appearing on agenda; recognition of community <br /> members city employees, and upcoming events; inquiry of staff regarding specific factual information <br /> or existing policies. <br /> Board members thanked Economic Development Coordinator Scott Livingston for all his hard work. <br /> 7. ADJOURN <br /> There being no further business, Vice-President Cooksley moved to adjourn the meeting at 7:40 p.m. <br /> Board member Ojeda seconded. MOTION PASSED. <br /> Respectfully submitted, <br /> atrice ogarty, City Secretary <br /> Passed and approved on this 24th day of August, 2015. <br /> President Richard Warren <br /> Page 4 of 4 <br /> July 7,2015,La Porte Development Corporation Board Minutes <br />