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<br />Impact AnalysisImpact Analysis
<br />
<br />Excluding the impact of the seventyExcluding the impact of the seventy--three (73) new jobs to be relocated to La Porte, three (73) new jobs to be relocated to La Porte, this project
<br />would this project would
<br />each yeareach year
<br /> contribute approximately contribute approximately of new, annual property tax revenue to the City of La Porte. of new, annual property tax revenue to the City of La Porte.
<br />directly$42,600$42,600Please Please
<br />refer to Project Facts and FiguresProject Facts and Figuresand the and the LPDC Project Score Card LPDC Project Score Card --10 September 10 September
<br />2014(enclosed) for payback figures.enclosed) for payback figures.
<br />
<br />Demand for Capital, Other Projects, and PrioritiesDemand for Capital, Other Projects, and Priorities
<br />
<br />According to the enclosed monthly financial reports, the 4B Board currently has approximately According to the enclosed monthly financial reports, the 4B Board currently has approximately
<br />
<br />$933,155$933,155
<br />available at its discretion to use for new economic development projects. available at its discretion to use for new economic development projects. According to the same financial
<br />reports, According to the same financial reports,
<br />the 4B Boards projected fund balance, assuming that no additional funds are committed to new projects, by 30 s projected fund balance, assuming that no additional funds are committed
<br />to new projects, by 30
<br />September 2014 is September 2014 is . .
<br />$1,347,674$1,347,674
<br />
<br />Other projects, which are in various stages of discussion and may request funds from the 4B Board, are as Other projects, which are in various stages of discussion and may request funds
<br />from the 4B Board, are as
<br />follows:
<br />
<br />S. Broadway ReS. Broadway Re--Development Retail Strip Center Development Retail Strip Center $250,000 + $250,000 +
<br />South South
<br />S. Broadway ReS. Broadway Re--Development FischerDevelopment Fischers Hardware $250,000 + s Hardware
<br /> $250,000 +
<br />Re-Development Former Kroger $400,000 Development Former Kroger
<br /> $400,000
<br />Main Street ReMain Street Re--Development/Business Attraction $150,000 Development/Business Attraction $150,000
<br />
<br />Retail Attraction, SEC of Spencer Hwy and Canada Road $200,000 Retail Attraction, SEC of Spencer Hwy and Canada Road
<br />$200,000
<br />
<br />
<br />Action Required by the La Porte Development Corporation:Action Required by the La Porte Development Corporation:
<br />Based upon the 4B BoardBased upon the 4B Boards priorities, existing capital constraints, and demand for capital by other projects, Staff s priorities, existing capital constraints,
<br />and demand for capital by other projects, Staff
<br />recommends that the 4B Board consider awarding an economic development incentive to ACT Turbo Independent recommends that the 4B Board consider awarding an economic development incentive
<br />to ACT Turbo Independent
<br />Services, Inc. for Services, Inc. for . .
<br />$275,000$275,000
<br />
<br />
<br />
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