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<br />REQUEST FOR LPEDC BOARD AGENDA ITEM <br /> <br />Agenda Date Requested: 2/25/2008 <br /> <br />Budl!et <br /> <br />Requested By: Gretchen Rlack <br /> <br />Source of Funds: <br /> <br />EDe <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />Account Number: 038-6030-565-7001 (2) <br />(4) & (5)* <br />Amount Budgeted: $0 <br /> <br />Department: <br /> <br />City MIIAlIgertEDC <br /> <br />Exhibits: <br /> <br />Amount Requested: <br /> <br />$8.333 <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Attached you will find a copy of a revised lease agreement between the City and the <br />Economic Alliance Houston Port Region which was approved by the City Council at the <br />meeting of February 11 th. As a part of the revised lease agreement staff recommended to the <br />Council that funds for the payment of utilities be budgeted as an economic development <br />activity and placed in the ED budget. The Council was also informed that a budget <br />adjustment in an amount not to exceed $8,333 would be requested at the next LPEDC <br />meeting on February 25, 2008. <br /> <br />The Alliance is required as a part of the agreement to provide specific deliverables to the City <br />as referenced in the attached exhibits to the agreement. In addition to the deliverables, they <br />are also making improvements to the building at 908 and bringing to the partnership fac;ade <br />enhancements at 912 through Project Stars and other building improvements to the 912 <br />location. In order to compensate them for the monies expended for our buildings and to be <br />able to budget for and control the yearly reimbursement amounts we recommend that we <br />continue to pay the utilities in an amount not to exceed $8,333 per year. Any amounts in <br />excess of $8,333 paid for the utilities will be a credit to the City to off-set expenses for any <br />additional deliverables, building improvements to 908 and/or for improvements and fac;ade <br />enhancements to the 912 location. <br /> <br />Normally the sequence of approvals would have been through the Board first and then, if <br />necessary, to the City Council. However, we needed to seek Council approval for the lease <br />agreement in order to move forward with the RFP for the strategic plan. The Alliance staff will <br />be providing the preliminary SWOT analysis and facilitating the initial meetings necessary for <br />the kick-off of the project. <br /> <br />The budget adjustments requested are as follows: <br /> <br />038-6030-565-70.01 <br />038-6030-565-70.02 <br />038-6030-565-70.04 <br />038-6030-565-70.05 <br /> <br />$ 7,000 <br />$ 700 <br />$ 333 <br />$ 300 <br /> <br />$ 8,333 <br /> <br />TOTAL <br />