08-26-15 Meeting of the La Porte Development Corporation Board of Directors

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEM Budget Agenda Date Requested: 26 August 2015 Source of Funds: CIP #015-9892-993 Requested By: Scott D. Livingston Account Number: Department: Administration/Economic Development Amount Budgeted: Report: Resolution: Ordinance: Amount Requested: $25,000 Exhibit: Project Presentation Budgeted Item: YES NO Exhibit: Bid Sheet Summary Exhibit: Enhancement Grant Application Exhibit: Enhancement Grant Evaluation Summary SUMMARY & RECOMMENDATION On 9 February 2015, the Board voted unanimously to a offer an enhancement grant in an amount $25,000Eagle Energy Resources, LLC not to exceed to at 153 S. Broadway upon successful completion of the proposed project, per the guidelines and parameters of the La Porte Enhancement Grant Program. Although Doug Shows, the Owner of the company, was planning to enhance all four (4) sides of the building’s exterior, he collected three (3) bids from general contractors to complete each of only the west and south the five (5) primary projects on (i.e. the front side facing S. Broadway) sides (i.e. the side facing East Street/San Jacinto Ave.) of the building: (a) "Stucco Work/Façade Repair", (b) "Painting", (c) "Doors", (d) "Canopy Work", and (e) "Exterior Lighting". The applicant also secured three (3) additional bids to install some ornamental “Texas Stars” on the building’s exterior. CLS The general contractor which offered the lowest bid for the five (5) work projects was Builders, Inc. $48,257 in the amount of . The lowest bid to manufacture and ship the “Texas Iron Designs and Signs$2,368.90 Stars” was for . The sum total of these two, lowest bids was $50,625.90$25,312.95 . Therefore, 50% of this sum was . Please see the “Bid Sheet Summary” for details. The maximum amount allowed per property owner through the La Porte $25,000 Enhancement Grant Program is . Therefore, the maximum amount to be reimbursed for $25,000 this project was expected to be . Eagle Energy Resources, LLC completed each of the projects that the Board approved on 9 $53,387.80 February 2015 for the total sum of , which is greater than the Board approved amount $50,625.90 of. The company completed projects in excess of $50,000, and the company representatives have submitted copies of invoices, paid receipts, and cancelled checks for all the completed enhancement grant projects. Therefore, according to the terms of the La Porte 1