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REQUEST FOR CITY COUNCIL AGENDA ITEM <br />Appropriation <br />Agenda Date Requested:February 14, 2022 <br />N/A <br />Requested By:Corby Alexander, City Manager Source of Funds: <br />Department: <br />Account Number: <br />N/A <br />Amount Budgeted: <br />ReportResolutionOrdinance <br />N/A <br />Amount Requested: <br />Exhibits: Original Section 380 Agreement <br />Budgeted Item:YesNo <br />Oakland Land and Development letter <br />380 Amendment <br />SUMMARY& RECOMMENDATION <br />The City of La Porte has executeda Chapter 380 agreement with the Oakland Land & <br />Development, INCin2017. This agreement provided incentives to <br />owner/developer for improvements to belocated within a thirty (30) acre area between West G <br />th <br />Street and West D Street, bordered to the west by South 15Street and to the east by a <br />drainage way. The construction timeline given by the Developer was to occur over a six (6) year <br />period with a total minimum capital investment of $12,000,000.00. <br />In the agreement, the City agreed to reimburse the Developerup to $362,458 to be made in <br />installments as development occurs.To date, the City has paid $280,397.46inreimbursements <br />in accordance withthe agreement. The company has maintained contact with the city through <br />the entirety of this agreement. <br />Oakland Land and Developmenthas requestedfor a two-year extension of the agreement, due <br />to the Covid-19 pandemic,unforeseen health issues, shortage of construction materials,and the <br />death of the lead project design consultant. <br />ACTION REQUIRED BY CITY COUNCIL <br />Consider and/or approve amendment to Chapter 380 agreement with Oakland Land <br />and Development, INC. <br />Approved for the City Council meeting agenda <br /> <br />