07-14-14 Meeting of the La Porte Development Corporation Board of Directors

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Below is an itemized categorization of the ACT's employment: (6) Executive Management (9) Sales, Accounting and Support Staff (12) Engineering & Supervision (53) Hourly Technicians ACT offers competitive salary and benefits. Many of ACT's hourly employees make between $20 - $30/hr. Supervisors and engineering staff are typically compensated at or above the industry average. All full time employees are eligible to receive benefits that include generous insurance benefits (medical, vision, dental), 401(k) plan with matching program, disability & life insurance, profit sharing incentives, paid vacation and holidays. Other Pertinent Information Of the six (6) senior members of ACT's executive management team, three (3) are La Porte High School graduates and two (2) others have lived and/or worked in La Porte for over 20 years. Impact Analysis Excluding the multiplier effect of the seventy-three (73) new jobs to be relocated to La Porte, this project would directly contribute approximately $46,860 of new, annual property tax revenue to the City of La Porte. Please refer to "Project Facts and Figures" and the "LPDC Project Score Card - Final, 1 July 2014" (enclosed) for additional information. Demand for Capital, Other Projects, and Priorities According to the enclosed monthly financial reports, the 4B Board currently has approximately $756,901 available at its discretion to use for new economic development projects. According to the same financial reports, the 4B Board's projected fund balance, assuming that no additional funds are committed to new projects, by 30 September 2014 is $1,261,251. Other projects, which are in various stages of discussion and may request funds from the 4B Board, are as follows: . AMPAC Fine Chemicals . Jack Doheny Companies unknown unknown S. Broadway Re -Development Retail Strip Center South $250,000+ S. Broadway Re -Development Retail Strip Center North $250,000+