06-11-14 Meeting of the La Porte Redevelopment Authority minutes

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MINUTES OF THE MEETING OF THE LA PORTE REDEVELOPMENT AUTHORITY CITY OF LA PORTE, TEXAS BOARD OF DIRECTORS June 11, 2014 CALL TO ORDER — LINDSAY PFEIFFER, PRESIDENT. The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, held a regular meeting, open to the public, on Wednesday, June 11, 2014, at 6:30 p.m., in the Council Chambers of City Hall, 604 West Fairmont Parkway, La Porte, Texas, and the roll was called of the duly appointed members of the Board, to -wit: Peggy Antone, Secretary Position 1 Dave Turriquist Position 2 Alton Porter Position 3 Horace Leopard Position 4 Doug Martin, Vice Chair Position 5 JJ Meza Position 6 Lloyd Graham Position 7 Chester Pool Position 8 Lindsay Pfeiffer, Chair Position 9 and all of the above were present with the exception of Directors Alton Porter and Lloyd Graham, thus constituting a quorum. Also present were David Hawes and Linda Clayton, both of Hawes Hill Calderon, LLP; and Scott Livingston, La Porte EDC Director. Others attending the meeting were Alan Mueller, Gromax Development; and James Larson, Lakes at Fairmont Greens. Chairman Pfeiffer called the meeting to order at 6:32 p.m. CONSIDER APPROVAL OF THE MINUTES OF THE BOARD OF DIRECTORS MEETING HELD ON FEBRUARY 19, 2014. Upon a motion duly made by Director Martin, and being seconded by Director Leopard, the Board voted unanimously to approve the Minutes of the February 19, 2014, Board meeting, as presented. CONSIDER APPROVAL OF REPORT ON APPLYING AGREED UPON PROCEDURES TO CONSTRUCTION ADVANCE REIMBURSABLE TO MALLADI S. REDDY AND PORT CROSSING LAND, LP. Mr. Hawes reported the reimbursements were in accordance with the Development Agreement with Dr. Reddy and the Public Right of Way Improvement and Funding Agreement with Port Crossing Land for costs related to the street tie-in at Wharton Weems and State Highway 146. Mr. Hawes answered questions regarding interest. Upon a motion duly made by Director Tumquist, and being seconded by Director Martin, the Board voted unanimously to approve the Report and payment of the reimbursements to Mailadi S. Reddy in the amount of $232,500 and to Port Crossing Land in the amount of $232,500.