04-14-14 Meeting of the La Porte Development Corporation Board of Directors

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEMITEM April 14, 2014April 14, 2014AppropriationAppropriation Agenda Date Requested:Agenda Date Requested: N/A N/A S. Livingston S. Livingston Source of Funds:Source of Funds: Requested By:Requested By: Account Number:Account Number: Economic Development/Tourism Economic Development/Tourism Department: Amount Budgeted:Amount Budgeted: Report:Resolution:Resolution:Ordinance:Ordinance: Amount Requested:Amount Requested: Exhibits: Budgeted Item:Budgeted Item:YESYESNONO SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS Staff has been evaluating ways to streamline the process by which projects of the Development Corporation work Staff has been evaluating ways to streamline the process by which projects of the Development Corporation work its way through the necessary legal steps. One idea that staff would like to propose that the Board consider for its way through the necessary legal steps. One idea that staff would like to propose that the Board consider for the development of the upcoming FY 2015 budget is to delineate, to the extent possible, specific projects of the the development of the upcoming FY 2015 budget is to delineate, to the extent possible, specific projects of the Corporation as part of the CorporationCorporation as part of the Corporations budget review process. s budget review process. According to the bylaws of the La Porte Development Corporation, According to the bylaws of the La Porte Development Corporation, , including expenses that are , including expenses that are all expensesall expenses included in the approved budget, for included in the approved budget, for must be approved by the City Council. Additionally, each must be approved by the City Council. Additionally, each $15,000$15,000or moreor more projectof the LPDC may be considered for approval only after a 60of the LPDC may be considered for approval only after a 60--day notice for a public hearing has been day notice for a public hearing has been posted and the public hearing has been conducted. posted and the public hearing has been conducted. Therefore, for each known and expected Therefore, for each known and expected Therefore, for each known and expected Therefore, for each known and expected projectprojectprojectprojectfor the upcoming fiscal year, it may be more timely and for the upcoming fiscal year, it may be more timely and for the upcoming fiscal year, it may be more timely and for the upcoming fiscal year, it may be more timely and efficient to hold and conduct a public hearing on each efficient to hold and conduct a public hearing on each projectprojectfor the upcoming fiscal year when the 4B Board for the upcoming fiscal year when the 4B Board approves the proposed budget. When the City Council votes to approve the proposed budget of the 4B Board for approves the proposed budget. When the City Council votes to approve the proposed budget of the 4B Board for FY 2014-2015, the City Council could separately, but simultaneously approve each 2015, the City Council could separately, but simultaneously approve each projectprojectas part of the as part of the approved budget.approved budget. Proposed ProjectsProjectsin FY 2014 in FY 2014 --20152015 Proposed Projects,Projects,and the proposed budget for each project in FY 2014 and the proposed budget for each project in FY 2014 --2015 may be considered as follows:2015 may be considered as follows: for Workforce Development/Training, for Workforce Development/Training, $50,000$50,000 to support Small Business Development, to support Small Business Development, $25,000$25,000