02-11-09 Meeting of the La Porte Redevelopment Authority Minutes

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4. CONSIDER AMENDMENT TO EXHIBIT B (THE TIRZ IMPROVEMENTS) OF THE DEVELOPMENT AGREEMENT BY AND BETWEEN 65 LA PORTE, LTD., A TEXAS LIMITED PARTNERSHIP ("65 LA PORTE"), THE LA PORTE REDEVELOPMENT AUTHORITY, AND THE LA PORTE TAX INCREMENT REINVESTMENT ZONE NUMBER ONE. 5. CONSIDER AMENDMENT TO EXHIBIT B (THE TIRZ IMPROVEMENTS) OF THE DEVELOPMENT AGREEMENT BY AND BETWEEN PORT CROSSING LAND, LP, A TEXAS LIMITED PARTNERSHIP ("PORT CROSSING"), THE LA PORTE REDEVELOPMENT AUTHORITY, AND THE LA PORTE TAX INCREMENT REINVESTMENT ZONE NUMBER ONE. Items Four and Five were considered together. Mr. Hawes and Mr. Joerns went over the purpose of the amendments to Exhibit B of the Development Agreements as related to the construction of the intersection at SH 146 and Wharton Weems Blvd. Upon motion made by Director Antone, seconded by Director Meza, the board voted unanimously to approve the amendments to Exhibit B of each developer Development Agreement. 6. RECEIVE REPORT WITH REGARD TO LA PORTE INDEPENDENT SCHOOL DISTRICT (ISD) PURCHASE OF 20 ACRES WITHIN THE BOUNDARIES OF THE ZONE. Mr. Joerns informed the board with regard to the La Porte ISD purchase of 20 acres within the TIRZ boundaries and discussed the tax revenue consequences. Mr. Graham also informed the board of related matters. No action was required or taken by the board of directors. 7. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO AUTHORITY INVOICES. Mr. Hawes presented the cash flow report and invoices. Upon motion made by Director Turnquist, seconded by Director Pool, the board voted unanimously to approve the report and invoices for payment as presented. 8. RECEIVE STAFF REPORT AND UPDATES WITH REGARD TO PORT CROSSING, LAKES ON F AIRMONT GREEN, AND RETREAT AT BAY FORREST DEVELOPMENT. There were no reports or updates. 9. ADJOURNMENT. Director Pool moved to adjourn; Director Turnquist seconded. The meeting adjourned at 6:58 PM.