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<br />McCALL, GIBSON & COMPANY, PLLe <br />Certified Public Accountants <br /> <br />13831 Nortltwe6t Frwy. <br />Suite 61D <br />HOl/ston, Texas 7704lJ-5216 <br />(713) 462-0341 <br />Fax (713) 462-2708 <br />E-Mail: InccaII~bsoll@lnccallgibsoll.amt <br /> <br />7801 N. CapitRl of Texas Hwy. <br />Suite 350 <br />Austin, Texas 78731-1169 <br />(512) 418-2358 <br />Fax: (512) 340-0604 <br /> <br />May 27, 2009 <br /> <br />Board of Directors <br />La Porte Redevelopment Authority <br />City of La Porte, Texas <br />Harris County, Texas <br /> <br />DRAFT <br />SUBJECT TO CHANGE <br /> <br />Independent Accountant's Report <br />on Apolving Agreed-Upon Procedures <br /> <br />We have performed the procedures enumerated below, which were agreed to by the Board of <br />Directors of the La Porte Redevelopment Authority (the "Authority"), solely to assist you with <br />respect to the Construction, Engineering and Related Costs to be paid by the City of La Porte <br />Tax Increment Reinvestment Zone to Port Crossing Land, LP ("Developer") as of May 27,2009, <br />as set forth in the accompanying schedule. The below listed procedures were performed solely <br />to assist you in determining the amount to be reimbursed to the Developer involved and to <br />facilitate the preparation of a comparison of the actual costs incurred with the Capital <br />Improvement Budget as documented as Exhibit Bin. the Public Improvement Development <br />Agreement. <br /> <br />This agreed-upon procedures engagement was conducted in accordance with attestation <br />standards established by the American Institute of Certified Public Accountants. The sufficiency <br />of the procedures is solely the responsibility of the Board of Directors of the Authority. <br />Consequently, we make no representation regarding the sufficiency. of the procedures either for <br />the purpose for which this report has been requested or for any other purpose. The procedures <br />performed are summarized as follows: . <br /> <br />A. We reviewed certain schedules and supporting invoices submitted by the Developer in <br />substantiation of the costs to be reimbursed. Our review included all documentation <br />supporting items, amounts, and proof of payment for which reimbursement is <br />requested. Ih addition, we reviewed all agreements relative to the reimbursement <br />request. <br /> <br />B. We calculated the Developer's interest computations based upon the terms of the <br />Reinvestment Zone Number One, City of La Porte, Texas ("La Porte Zone") agreement <br />with the Developer for interest in accordance with the agreement dated May 24, 2006. <br /> <br />Member of <br />Amerlcanlnstitute of Certified Public Accountants <br />Texas Society ofCertifi2d Public Accountants <br />