08-26-15 Meeting of the La Porte Development Corporation Board of Directors minutes

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(c) Discussion and possible action regarding approval to revisions of the La Porte Enhancement Grant Program —S. Livingston Economic Development Coordinator Scott Livingston presented a summary for revisions of the La Porte Enhancement Grant Program. The six (6) proposed revisions to the La Porte Enhancement Grant Program included: • Add parking lot improvements including new parking lot construction, parking lot paving, parking lot re-surfacing, parking space striping/painting, new parking blocks, old parking block removal, and other projects as approved by the ED Board. • Include preference for local bidders by incorporating the City of La Porte's Local Bidder Preference Policy. • Eliminate the requirement for multiple bids for each eligible project which has a value which is less than $2,000 of which 50% or$1,000 would be a reimbursable expense, in accordance with the City of La Porte's Purchasing Policy. • Expand the program's boundaries to include the incorporated city limits of La Porte. • Remove the clause that prohibits alterations of approved projects for a period of five (5) years. • Numerous grammatical revisions or clarifications, as shown in red ink, which support the intent of the previous five (5) revisions as listed above. Board member Martin moved to approve the revisions of the La Porte Enhancement Grant Program. Board member Clausen seconded. MOTION PASSED. Ayes: President Warren, Board members Woodard, Clausen Ojeda and Martin Nays: None Absent: Vice-President Cooksley and Board member Engelken (d) Discussion and possible action regarding two new incentive programs that will promote the development of new or expanded business enterprises in the City of La Porte -S. Livingston Economic Development Coordinator Scott Livingston presented a summary for two new incentive programs that will promote the development of new or expanded business enterprises in the City of La Porte and detailed the proposed qualifications for the two programs. Board member Martin questioned criteria for return on investment being proposed for an expanded business and not a new business. Mr. Livingston responded for a new business it is on the pay back model based on decisions by the Board for the last 4-6 months. Board member Woodard commented there are not any written guidelines on pay back for projects and it has been used only as a rule of thumb. Economic Development Coordinator Scott Livingston responded it is his understanding the La Porte Development Corporation Board wishes to have the pay back specified and any revisions can be made as desired by Board members. Board member Clausen commented it is his understanding the Board wishes to establish consistent guidelines and not polices. Mr. Livingston advised the item can be revised as per Board members desires and presented at a future meeting. Board member Woodard moved to table the item. Board member Clausen seconded. MOTION PASSED. Page 3 of 6 August 26,2015,La Porte Development Corporation Board Minutes