03-26-03 La Porte Redevelopment Authority Meeting minutes

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AGENDA ITEM 5: AGREEMENT BETWEEN THE CITY, TIRZ AND REDEVELOPJ.\tIENT AUTHORITY On August 14, 2002 the La Porte Redevelopment Authority and TIRZ approved an agreement for services by and between the City, TIRZ and Redevelopment Authority. Prior to this date, on May 20, 2002, Council passed and approved Ordinance 2002-2554 for this agreement. Section II and Section VI of the Tri-Party Agreement (attached) between the City, Zone and Authority describes the services the Redevelopment Authority may furnish. Since the Authority has no employees we are suggesting a simple agreement with the City to provide these services. The agreement provides for the Authority to compensate the City, at cost plus 5%, annually, upon termination, or as otherwise provided for in writing, for services performed by the City on behalf ofthe Authority. For outside or vendor services, payment will be made within 30 days of invoice date. The agreement term is for 1 year with the option for two I-year renewals and includes provisions for termination by either party. The La Porte City Council approved the renewal of this agreement at their May 20, 2003 meeting. Weare requesting the Redevelopment Authority and TIRZ Board to approve the renewal of this agreement.