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REQUEST FOR CITY COUNCIL AGENDA ITEM Appropriation Agenda Date Requested: February 14, 2022 Requested By:Corby D. Alexander Source of Funds:038 EDC Fund Department:CMO Account Number:038-6030-565-9997 Amount Budgeted:$540,200 ReportResolutionOrdinance $27,308 Amount Requested: Exhibits: Proposed Development Agreement Budgeted Item:YesNo SUMMARY& RECOMMENDATION On December 24, 2021, the La Porte Development Corporation Board approved a development agreement withMark Rosado, owner of the Battleground Saloon located at 116 S. Broadway Street. Rosado is a first-time business owner looking to establish his Bar & Grill as a staple in the community. Though no kitchen or grill would be installed at his business, the plan is for food to be sold via food truck(s). He provided the La Porte Development Corporation Board with a layout for the project, which included an outdoor seating area for customers andone buildingwith the potential to add more buildings in the future. Additionally, Mr. Rosado anticipates havingfive (5) full-time employees or full-time The City of La Porte receives mixed beverage sales tax receipts issued through the Texas Comptroller of Public Accounts from multiple permitteeswithin La Porte. La Porte has several dozen establishments that contribute monthly mixed beverage sales tax to the City. On average, these establishments average gross receipts of $30,000 per month. Staff has estimated that the applicant will submit approximately $4,500 annually to the City for mixed beverage taxes. Staff provided the Board withan analysis of this project: Per Harris County Appraisal District, the location Mr. Rosado is building Battleground Saloon, 116 S. Broadway,has an assessed valuation as of January 1, 2021,of $84,000 for this vacant parcel. The applicant plans to sell food and alcohol, which will generate sales and mixed beverage taxes for the City. Based on the projected project cost of $143,200, the applicant would have an investment in the business of $227,200, which could generate approximately $1,613 in property taxes annually for the City. Additionally, the applicant would be a water and sewer customer; therefore, the City would receive utility fees from