01-25-16 Regular Meeting of La Porte City Council

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REQUEST FOR LA PORTE CITY COUNCIL AGENDA ITEM Budget Agenda Date Requested: 25 January 2016 ED General Funds Source of Funds: Requested By: Scott D. Livingston CIP #015-9892-993-1100 Department: Administration/Economic Development Account Number: Report: Resolution: Ordinance: $275,972.37 Amount Budgeted: $42,057.86 Amount Requested: Exhibit: Project Presentation, 11 Jan. 2016 Budgeted Item: YES NO Exhibit: Bidder Sheet Summary Exhibit: Evaluation Summary Exhibit: Enhancement Grant Application Exhibit: La Porte Enhancement Grant Guidelines, Revised 11-11-15 Exhibit: Development Agreement for the Sylvan Beach Apartments, Signed SUMMARY & RECOMMENDATION On 11 November 2015, the Board of the La Porte Development Corporation (LPDC) approved a new incentive policy, which increased the size of the LPDCs maximum contribution for any one enhancement grant project from $25,000 to $50,000. $42,057.86 On 11 January 2016 the ED Board approved an enhancement grant in the amount of nd Brotamonte Asset 1, LLC to, which owns the Sylvan Beach Apartments at 315 N. 2 Street in La Porte, TX. Edwin Brotamonte, collected three bids from contractors to complete each of the following projects: (1) Paint & Wood Repair, (2) Asphalt Repair, (3) Landscaping, and (4) Signage. The $84,115.72$42,057.86 sum total of these three, lowest bids is , and 50% of this sum is . Please note the Bid Sheet Summary for details. The lowest bids for each of the project were offered as follows: Paint & Wood Repair -- $35,785.00 Parking Lot Repair -- $35,000.00 Landscaping -- $10,000.00 Signage -- $3,330.72 Mr. Brotamonte has committed to continue installation of improvements to the kitchens, bedrooms, bathrooms, and common areas of the interior of the apartment units. The cost of interior improvements is not included as an eligible reimbursable expense for the project. 1