08-04-04 Meeting of the Tax Increment Reinvestment Zone Number One minutes

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e e La Porte Redevelopment Authority City of La Porte, Texas Minutes of the Board Meeting Held February 4, 2004 1. Call to Order and Determination of a quorum The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, held a meeting, open to the public, on the 4th day of February 2004,6:30 p.m. in Council Chambers at the City Hall, 604 West Fairmont Parkway, La Porte, Texas 77572-1115 and the roll was called of the duly appointed members of the Board, to wit: Peggy Antone Paul Larson AIton Porter Horace Leopard Norman S. Cook Lindsey Pfeiffer Molly Helmlinger Chester Pool 11 Meza Position 1 Position 2 Position 3 - Chairman Position 4 Position 5 Position 6 Position 7 Position 8 Position 9 and all of the above were present except Director Larson and Director Antone, thus constituting a quorum. Also present at the meeting were John Joerns, David Hawes, and Debra Feazelle. 2. Consider approval of the Minutes of the meeting held January 14, 2004 Upon a motion duly made by Director Helmlinger and being seconded by Director Cook, the board unanimously approved the Minutes of January 14,2004. 3. Consider approval or other action retaining Andrews Kurth, LLP to perform additional services relating to bond counsel services. Mr. Joems discussed the need for additional services related to development agreements by and between the Authority, the TIRZ and developer. The additional services were necessary for documenting costs for future bond sales. Upon a motion duly made by Director Pfeiffer and being seconded by Director Meza, the board unanimously approved the Additional Services Agreement with Andrews Kurth, LLP. 4. Discuss status of proposed development within the Tax Increment Reinvestment Zone. Mr. Joerns discussed potential development activity within the Zone. He described a warehouse project on the west side of Highway that is currently under contract with a possible closing in the next 45 days. The first warehouse would comprise 225,000 square foot of space with a possible construction start date of June. There is an option for an additional 2 warehouses of equal size. Mr. Joerns noted that staffis still working on the residential development proposed for the east side of Highway 146. Staff is trying to develop alternative infrastructure options with regard to the proposed development. 5. Administrative Reports . La Porte References in Bay Area Houston Economic Partnership Newsletter . Review correspondence Mr. Joems reviewed with the board the newsletter and its content with relation to La Porte. Also, Mr. Joems shared with the board recent correspondence with regard to affordable housing projects and their possible impact on the TIRZ. 6. Board member Comments Director Pfeiffer indicated that he might be leaving La Porte within the next two months.