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<br />. <br /> <br />. <br /> <br />AGENDA ITEM 3: <br />AGREEMENT BETWEEN THE CITY, TIRZ AND REDEVELOPMENT AUTHORITY <br /> <br />On August 14, 2002 the La Porte Redevelopment Authority and TIRZ approved the first <br />agreement for services by and between the City, TIRZ and Redevelopment Authority. Prior to <br />this date, on May 20, 2002, Council passed and approved Ordinance 2002-2554 for this <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 /> <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 approved the second and final renewal of this agreement at their July <br />12,2004 meeting. We are requesting the Redevelopment Authority and TIRZ Board to approve <br />the renewal of this agreement. <br />