05-24-07 Meeting of the La Porte Redevelopment Authority minutes

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La Porte Redevelopment Authority, City of La Porte, Texas Minutes ofthe Board Meeting ReId May 24, 2007 1. CALL TO ORDER AND DETERMINA TrON OF A QUORUM The Board of Directors of the La Porte RedeveloprnentAuthority, City of La Porte, Texas, held a meeting, open to the public, on the 24th day of May 2007, and meeting was called to order at 6:38 p.m. in the La Porte Recreation and Fitness Center, 1322 South Broadway, La Porte, Texas 7751 and the roll was called of the duly appointed members of the Board, to wit: Peggy Antone Dave Turnquist Alton Porter Horace Leopard Doug Martin JJ Meza Michael Say Chester Pool Lin Pfeiffer Position 1 Position 2 Position 3 Position 4 Position 5 Position 6 Position 7 Position 8 Position 9 - Chairman and all of the above were present except Director Antone, and Director Meza, thus constituting a quorum. Also present at the meeting were John Joerns, David Hawes, Gretchen Black, Norman Reed, and Russell Plank. 2. CONSIDER APPROVAL OF THE J\1INUTES OF THE FEBRUARY 28, 2007 BOARD OF DIRECTORS MEETING Upon a motion duly made by Director Say and being seconded by Director Porter, the board unanimously approved the minutes of February 28,2007 3. CONSIDER APPROVAL OR OTHER ACTION REGARDING THE PUBLIC FUNDS DEPOSITOR COLLATERAL SECURITY AGREEMENT WITH AMEGY NATIONAL BANK ASSOCIATION Mr. Hawes gave the board an overview regarding the need for Public Funds Depositor Collateral Security Agreement. Upon a motion duly made by Director Martin and being seconded by Director Pool, the board unanimously approved the Public Funds Depositor Collateral Security Agreement. 4. CONSIDER APPROVAL OR OTHER ACTION REGARDING A PROPOSAL BY HAWES lULL CALDERON LLP TO PROVIDE PROFESSIONAL SERVICES RELATED TO THE ADMINISTRATION OF TIlE LA PORTE REDEVELOPMENT AUTHORITY AND TAX INCREMENT REINVERSTMENT ZONE Mr. Joems and Mr. Hawes gave an overview of the Agreement. Upon a motion duly made by Director Say and being seconded by Director Leopard, the board unanimously approved the agreement. 5. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO PAY REQUESTS ON BEHALF OF THE PORT CROSSING TIRZ PROJECT. . PAY REQUEST NUMBER ONE IN THE AMOUNT OF $6,090,116.79 c- . PAY REQUEST NUMBER TWO IN THE AMOUNT OF $2,892,333.90 Mr. Joems and Mr. Hawes gave an overview of the pay requests. Upon a motion duly made by Director Porter and being seconded by Director Turnquist, the board unanimously approved the pay requests.