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<br />< <br />.j' <br /> <br />AGENDA ITEM 6: <br />AGREEMENT BETWEEN THE CITY, TIRZ, AND REDEVELOPMENT AUTHORITY <br /> <br />At the August 1,2001 meeting, the La Porte Redevelopment Authority discussed contracting <br />with the City of La Porte for Redevelopment Authority duties described in the Tri-Party <br />Agreement. <br /> <br />Section II and Section VI of the Tri-Party Agreement (attached) between the City, Zone and <br />Authority describes the services the Redevelopment Authority may furnish. Since the Authority <br />has no employees we are suggesting a simple agreement with the City to provide these services. <br />(Note: this approach is similar to the operating agreement between the City and the La Porte <br />Area Water Authority). <br /> <br />The agreement provides for the Authority to compensate the City, at cost plus 5%, annually, <br />upon termination, or as otherwise provided for in writing, for services performed by the City on <br />behalf of the Authority. For outside or vendor services, payment will be made within 30 days of <br />invoice date. The agreement term is for 1 year with the option for two I-year renewals and <br />includes provisions for termination by either party. <br /> <br />The La Porte City Council will also consider this agreement at their May 20th Meeting. <br />