10-01-03 La Porte Redevelopment Authority Meeting minutes

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8/20/2003 "Contract Progress Payment" shall mean the_payment due to a contractor or consultant hired by Developer to complete the Public Improvements. A contract progress payment must be supported not only by a report of a certified public accountant as required in Section 6.1 (B), but also by customary documentation including, but not limited to, the name and address of the contractor, a description of the contract pursuant to which the payment is requested, the amount of such payment, the original contract amount, total payments made to date on such contract, an estimate of remaining work to be completed, the cost of such work, and customary lien and subcontractor releases. "County" shall mean Harris County, Texas. "Developer Advances" shall mean any funds advanced for eligible improvements by the Developer pursuant to Section 6.1 of this Agreement and shall include any interest payable thereon as prescribed in this Agreement. "Parties" or "Party" shall mean the La Porte Zone, the La Porte Authority, and the Developer, the parties to this Agreement. "Plans and Specifications" shall mean the designs, plans and specifications for the Public Improvements prepared or to be prepared by engineering and landscape architect firms at the direction of Developer in accordance with the Project Plan and as approved by the City_in accordance with Section 4.2. "Pledged Available Tax Increment" shall mean the Available Tax Increment attributable to the Project. "Property Account" means an account within the Tax Increment Revenue Fund established by the City to account for the tax increment attributable to the Project Site, the proceeds of Authorized Bonds issued to finance Public Improvements pursuant to this Agreement, and other obligations issued pursuant to Article 6, and earnings from the investment of such amounts. "Project Costs" shall mean the cost of the Public Improvements. "Project Plan" means the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number One, City of La Porte, as approved by the City Council on , and as thereafter amended and approved by the City Council. "Project Site" shall mean the area known as described in Exhibit A, and all improvements located thereon. , located in certain tracts ~"~!:!PI~C lmp)ovements" shall have the meaning provided in Article 3 ofthis Agreement. 'Residenti~t Site" shall mean that part of the Project Site that is planned for residential use and rther ci6scribed in Exhibit D. --"-"/- 3