05-27-09 Meeting of the La Porte Redevelopment Authority Minutes

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4. Consider Reimbursement to Port Crossing Land, LP, a Texas limited partnership based upon accepted Agreed-Upon Procedures Report with regard to project costs. David Hawes gave an overview ofthe accounting detail related to the funds available to pay Port Crossing based upon the previously approved Agreed-Upon Procedures Report. Mr. Hawes recommended approval. Upon motion made by Director MC7..a, scconded by Director Turnquist, the board voted unanimously to pay $826,186.83 from the Redevelopment Authority Fund to Port Crossing. 5. Consider payment to City of La Porte in the amount of $100,000 for TlRZ and Redevelopment Authority start-up costs. Mr. Hawes and Mr. Joerns went over the purpose of the payment to the city. That being the City of La Porte had advanced funds for the operation of the Redevelopment Authority and TIRZ in the amount of $1 00,000 at no interest. Upon motion made by Director Martin, seconded by Director Pool, the board voted unanimously to approve the payment of $1 00,000 to the City. 6. Consider approval or other action with regard to authority invoices. Mr. Hawes presented the cash now report and invoices. Upon motion made by Director Pool. seconded by Director Meza, the board voted unanimously to approve the report and invoices for payment as presented. 7. Receive Staff report and updates with regard to Port Crossing, Lakes on Fairmont Green, Retreat at Bay Forrest Development Project, progress of the signal/paving project, and status of audit. David Hawes gave an update on the audit and the progress being made. Mr. Joerns gave an update on the SH I 46/Wharton Weems Project and that notice to proceed had been given to Durwood Green (Contractor) to proceed. Mr. Plank updated the board that they had plans for two more buildings, but are waiting for the economy to improve. Mr. Joerns gave the board an update on the Lakes of Fairnlont Green Pr~ject and discussed the sale of property to the La Porte ISD. Mr. Joerns gave the board an update on the Retreat at Bay Forrest Project with regard to streets and drainage issues. 8. Board member comments a. Matters appearing on Agenda No Board Member Comments 9. Adjournment. Director Turnquist moved to adjourn~ Director Mart.in seconded. The meeting adjourned at 7: 18 PM.