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RIC HARP WARREN, PRESIpENT MIKE CLAUSEN, BOARD MEMBER <br />OF e <br />MIKE COOKSLEY, VICE PRESIpENT F - 9 RAN pY WOOpARp, BOARD MEMBER <br />CHUCK ENG ELKEN, BOARp MEMBER <a NANCY OJEpA, BOARD MEMBER <br />JAY MARTIN, no^Kn MEMBER <br />MINUTES OF LA PORTS nEVELOPMENT CORPORATION BOAR <br />MEETING OF FEBRUARY 22, 2016 <br />The City of La Porte development Corporation Board met on February 22, 2016, at the City Hall Council <br />Chambers, 604 West Fairmont Parkway, La Porte, Texas, at 5:00 p_m. to consider the following items of <br />business: <br />I- CALL TO ORE)ER <br />President Richard Warren called the meeting to order at 5:00 p.m. The following members of the <br />La Porte development Corporation Board were present: Board members Engelken, Clausen, Woodard, <br />Martin and Ojeda. Absent: Vice -President Cooksley_ Staff Present: Corby Alexander, Traci Leach, <br />Patrice Fogarty, Scott Livingston, and Clark Askins_ <br />2_ CONSENT (Al/ consent agenda items are considered routine by the La Porte Development Corporation Board <br />and wilt be enacted by one motion. There will be no separate discussion of these items un/ess a Board member <br />requests an item be removed and considered separately.) <br />(a) Consider approval or other action of minutes of the La Porte EDPeveloprnl nt Corporation Board <br />meeting held on February 8, 2016 — P_ Fogarty <br />(b) Receive Financial Report — S. Livingston <br />Regarding Item B, Board member Engelken questioned if the projected year end fund balance is $3.4 <br />million. Finance [Director Michael [Dolby responded that is the projection so far. <br />Board member Engelken moved to approve the Consent Agenda Items pursuant to staff <br />recommendations_ Board member Martin seconded. MOTION PASSEL? UNANIMOUSLY 6/0_ <br />Vice -President Cooksley was absent. <br />3. AUTHORI2:ATIONS <br />(a) Consider approval or other action authorizing $120,000.00 development agreement with Fischer's <br />Hardware, Inc., in connection with incentive grant in the amount of $120,000.00, for infrastructure <br />improvements to property located at 1010 S_ Broadway Street — S. Livingston <br />Economic development Coordinator Scott Livingston presented a summary_ <br />Board member Woodarci moved to authorize a $120,000.00 development agreement with Fischer's <br />Hardware, Inc., in connection with an incentive grant in the amount of $120,000.00 for infrastructure <br />Page 1 of 3 <br />February 22, 20'16, La Porte development Corporation Board Minutes <br />3 31- 016 aoO Meeting Page 3 <br />