08-26-13 Meeting of the La Porte Development Corporation Board of Directors

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATIONAGENDA ITEM Budget Agenda Date Requested:August 26, 2013 Source of Funds: Fund 038 Requested By: Traci E. Leach Account Number: Department: Administration Amount Budgeted: Report: Resolution: Ordinance: Amount Requested: $ 154,000 Budgeted Item:NO SUMMARY & RECOMMENDATION During the July 23, 2013EDC Board meeting, staff discussed the proposed FY 2014 budget for the Development Corporation. The Board approved the budget with one change to include funding for Board members to attend ICSC and other trade shows next year. That change was made and was presented to the City Council on August 13, 2013 during the budget workshop. The City Council has asked for the Development Corporation Board to consider funding one additional project next year- replacement of the irrigation system that serves Little Cedar Bayou Park and BayForest Golf Course. This $154,000 project would fund the replacement of the irrigation system, which is original with the construction of the golf course 25 years ago. One of the pumps required replacement this year and it is not a matter of if the equipment will fail, but when. Staff felt the prudent course of action was to plan for and schedule the replacement to minimize any collateral damage, such as loss of greens, fairways, and ballfields, that may occur should the system become inoperable unexpectedly. This is an eligible expenditure for the Development Corporation (Section 4B(a)(2)(A), (C), (D), and (E)). The Board may consider the following actions regarding this request: Approve including this project in the Development Board Corporation budget as presented; Approve funding a portion of the project costs; Disapprove funding for the project. Action Required by La Porte Development Corporation Board: Any action desired by the Board, as outlined above. Approved for La Porte Development CorporationAgenda Corby D. Alexander, City Manager Date