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<br />.? <br />,: <br /> <br />.:. in the implementation of the Project Plan and Financing Plan for the La Porte <br />Reinvestment Zone and the preparation and implementation of amendments <br />thereto. <br /> <br />.:. in the development of a policy to finance development and redevelopment of <br />residential, educational facilities, commercial, and park/open space properties in <br />the La Porte area; and <br /> <br />.:. in the development and implementation of a redevelopment policy for the La <br />Porte area, including the acquisition of land for redevelopment purposes. <br /> <br />.:. issue bonds, notes or other obligations. <br /> <br />.:. acquisition of land. <br /> <br />.:. negotiate and enter development agreements. <br /> <br />It is Council's intent that the TIRZ Boardmembers also serve on the Redevelopment <br />Authority. Therefore, we are reviewing these documents with you so that you may <br />become familiar and comfortable with the purpose and proposed Bylaws of the <br />Redevelopment Authority. <br /> <br />The creation of the Redevelopment Authority will require three (3) applicants for the <br />application to create the authority and three incorporators for the Articles of <br />Incorporation of the La Porte Redevelopment Authority. These persons must be a citizen <br />of the State of Texas, a resident of the City over the age of eighteen years. It is suggested <br />that these applicants/incorporators not be Councilmembers since they will be voting on <br />the creation of the Authority. Therefore, we will ask that qualified TIRZ Boardmembers <br />volunteer as applicants/incorporators. <br /> <br />ACTION REQUESTED <br />Recommend to City Council the creation of a Redevelopment Authority and recommend <br />the form of the following documents: <br /> <br />.:. Application to the Mayor and City Council of the City of La Porte, Texas, for <br />Creation of the La Porte Redevelopment Authority, and Approval of Articles of <br />Incorporation and Bylaws Thereof. <br />.:. Articles ofIncorporation of the La Porte Redevelopment Authority <br />.:. Bylaws of the La Porte Redevelopment Authority <br /> <br />After the Board's consideration we will ask for volunteers to sign the Application to the <br />Mayor and City Council of the City of La Porte, Texas, for Creation of the La Porte <br />Redevelopment Authority, and Approval of Articles of Incorporation and Bylaws <br />Thereof for creation of the Redevelopment Authority and the Articles of Incorporation. <br />