O-2014-3506 amend FY 2013-2014 Budget

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• Change the name of the program to the "La Porte Enhancement Grant Program" to reflect the change in the scope and limits of the project to include properties/businesses on Broadway. • Recognize that a project with the owners of the retail shopping centers on the northeast and southeast corners of Broadway and Fairmont Parkway would be too large for an enhancement grant project, and, therefore, would be better suited for an incentive grant outside the enhancement grant program. • Please reserve an open mind about further expanding the geographical boundaries of the "La Porte Enhancement Grant Program" to include other areas of LaPorte, including, but not limited to, SH 146 in years to come. Staff's Proposal for Further Implementing the Current Enhancement Grant Program (items to be completed regardless of whether the program itself is expanded to include Broadway): • Provide Follis Construction and Paskey, Inc. with 90 days written notice to request an extension, submit proof of completed enhancement grant projects, and make a final presentation to the 4B Board for project reimbursement. • Continue discussions with Jaime Suarez of Ogarrio's Restaurant and encourage him to move ahead with submitting an Enhancement Grant Application for his business. • Start a new discussion with the two (2) owners of the large retail shopping centers on the northeast corner of Broadway and Fairmont Parkway. Note: Based upon the magnitude of this large shopping center, these projects would be too large to be included in the Enhancement Grant Program. • Another discussion may also ensue with the owner of the shopping center on the southeast corner of Fairmont Parkway and Broadway. Again, based upon the magnitude of this large shopping center, this project would likely be too large to be included in the Enhancement Grant Program. Action Required by the La Porte Development Corporation Board: Consider approval or other action for moving forward with the items identified for further implementing the current Enhancement Grant Program. 2. Consider approval or other action to rename the enhancement grant program as the "La Porte Enhancement Grant Program," expand the boundaries of the program to include the area shown on the proposed map herein, and request an amendment to the FY 2013-2014 Budget which adds $100,000 to the La Porte Enhancement Grant Program for new enhancement grant projects in the newly expanded portion of the "LaPorte Enhancement Grant Program." Approved for the La Porte Development Corporation Agenda Corby D. Alexander, City Manager Date