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<br />City of La Porte <br />Interoffice Memorandum <br /> <br /> <br />P. 1 <br /> <br />Feb.19. 2008 4:22PM City of La Porte <br /> <br />From; <br /> <br />All LPRAlTIRZ Board Members <br />Gretchen~ EOq <br />John Joerl,)cr-ii <br />February 19, 2008'''\ ~ <br /> <br />To: <br /> <br />Through: <br /> <br />Date: <br /> <br />Subject: <br /> <br />Sylvan Beach Shoreline Protection and Beach Renourishment Project <br />Update <br /> <br />.. <br /> <br />Attached you will find information related to the Sylvan Beach Shoreline Protection and <br />Beach Renourishment Project. This project was considered by the TIRZ Board in <br />January of 2004 and approved by the City Council for advance funding as a TIRZ <br />Project in March of 2004. <br /> <br />As you know this was a project in the original TIRZ Project Plan, however, it will be <br />many years before any funds would be available from the TIRZ for repayment to the <br />entities involved. Therefore, in case it is necessary to move this project forward, we are <br />also exploring other funding options. One such option is that the La Porte Economic <br />Development Corporation can accept it as a project and could provide the matching <br />funds. With this in mind they will be conducting a Public Hearing on February 25th to <br />inform the public that this will be considered as a possible project for the Corporation. <br /> <br />The .notice of a public hearing has beeR published in the Bayshore .Sunarid a project <br />plan is on file in the Office of the City Secretary and is included in the attached <br />information. The LPEDC Board was updated about this project at their February 4th <br />meeting and voted to proceed with the public hearing. No decision at this time has been <br />made by the Board as to the exact amount of the funding or whether or not they would <br />expect repayment from the TIRZ at a Mure date. We also feel fairly confident that the <br />County will come through with possibly all of the remaining funding needed but <br />nonetheless desire a back up plan just in case as this is a very important project for us <br />and vital to the success of the proposed hotel project. We will keep you apprised of the <br />decisions of the LPEDC and the County as we move forward. <br /> <br />For the meeting on the 27th this is presented to you in order to update you on the status <br />of the project and reconfirm the Board's commitment. We look forward to discussing this <br />with you at the meeting however, should you have questions in advance of the meeting <br />please feel free to let us know. <br /> <br />cc: Ron Bottoms, City Manager <br />