HomeMy WebLinkAboutO-2005-2806
REQUEST FOR CITY COUNCIL AGENDA ITEM
Agenda Date Requested:
Appropriation
Requested By: C.ynthia Alp.yandp.r
Source of Funds: N/A
Department: FinanL'p.
Account Number:
Report:
Resolution: . Ordinance: X
- ,
Amount Budgeted:
Exhibits: Certification of Application -t- 4-B
Amount Requested:
Budgeted Item:
YES NO
Exhibits: "Proiect Fix -It' Calendar
Exhibits:
SUMMARY & RECOMMENDATION
The City of La Porte is currently in negotiations with the Governor, Economic and Tourism Division, for
Loan Leveraging for a new business enterprise related to headquarters and HUB operation for an
automotive remanufacturing center with the La Porte Development Corporation.
Please review the attached calendar concerning deadlines; action should be taken to avoid delays.
The La Porte Development Corporation had a Public Hearing at 5:00 pm and pending public comments
could approve resolution as duly posted.
ACTION REQUIRED BY COUNCIL:
Consideration and approval of an ordinance approvmg and ratifying the actions of the La Porte
Development Corporation.
FUND N/ A
ACCT NUM:
FUNDS AVAILABLE:
1--12-05
DATE
ORDINANCE NO. 2005-t~
AN ORDINANCE APPROVING AND RATIFYING THE CERTIFICATION OF
APPLICATION BY THE LA PORTE DEVELOPMENT CORPORATION TO THE OFFICE
OF THE GOVERNOR, ECONOMIC AND TOURISM DIVISION, FOR A TEXAS
LEVERAGE FUND (TLF) LOAN TO FUND AN ELIGIBLE PROJECT UNDER THE
DEVELOPMENT CORPORATION ACT, MAKING VARIOUS FINDINGS AND PROVISIONS
RELATING TO THE SUBJECT, FINDING COMPLIANCE WITH THE OPEN MEETINGS
LAW, AND PROVIDING AN EFFECTIVE DATE HEREOF.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE:
Section 1. The City Council hereby approves and ratifies the
contract, agreement, or other undertaking described in the title of
this ordinance, a copy of which is attached hereto as Exhibit "A"
and incorporated by reference herein.
Section 2. The City Council officially finds, determines,
recites, and declares that a sufficient written notice of the date,
hour, place and subject of this meeting of the City Council was
posted at a place convenient to the public at the City Hall of the
City for the time required by law preceding this meeting, as
required by the Open Meetings Law, Chapter 551, Texas Government
Code; and that this meeting has been open to the public as required
by law at all times during which this ordinance and the subject
matter thereof has been discussed, considered and formally acted
upon.
The City Council further ratifies, approves and confirms
such written notice and the contents and posting thereof.
Section 3. This Ordinance shall be effective from and after
its passage and approval, and it is so ordered.
PASSED AND APPROVED, this 24th day of January, 2005.
CITY OF LA PORTE
{iJdc~-l~T~~
Alton E. Porter, Mayor
By:
ATTEST:
CZ!1#{~JLtI-.diI
City Secretary
APPR. OVED: d
~ /
()~tJ ~
Knox W. Askins
City Attorney
2
City of La Porte
Interoffice Memorandum
To:
Mayor
City Council
La Porte Development Corpor . on Board of Directors
From:
Debra Feazelle, City Manager
Date:
January 18, 2005
Subject:
Project "Fix-It"
Attached with the authorizing resolution is a copy of the certification of application
(agreement) that will be completed by the City of La Porte and the Office of the Governor,
Economic Development and Tourism Division Office upon approval by the La Porte
Development Corporation Board of Directors, and ratification by City Council.
Please review the attached calendar concerning deadlines; action should be taken to
avoid delays.
Thank you,
RESOLUTION NO. 2005-~DI
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE LA PORTE DEVELOPMENT
CORPORATION, APPROVING AND AUTHORIZING THE CERTIFICATION OF
APPLICATION BY THE LA PORTE DEVELOPMENT CORPORATION TO THE OFFICE
OF THE GOVERNOR, ECONOMIC AND TOURISM DIVISION, FOR A TEXAS
LEVERAGE FUND (TLF) LOAN TO FUND AN ELIGIBLE PROJECT UNDER THE
DEVELOPMENT CORPORATION ACT, KAICING VARIOUS FINDINGS AND PROVISIONS
RELATING TO THE SUBJECT, FINDING COMPLIANCE WITH THE OPEN MEETINGS
LAW, AND PROVIDING AN EFFECTIVE DATE HEREOF.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE LA PORTE
DEVELOPMENT CORPORATION:
Section 1.
The La Porte Development Corporation hereby
approves and authorizes the contract, agreement or other
undertaking described in the title of this resolution, copy of
which is attached hereto as Exhibit "A" and incorporated by
reference herein. The President of the Board is hereby authorized
to execute such document and all related documents on behalf of the
La Porte Development Corporation.
The Secretary is hereby
authorized to attest all such signatures and affix the seal of the
corporation on all such documents.
Section 2. The President of the Board is hereby authorized to
execute any further contracts and agreements in the furtherance of
the application, and all related documents on behalf of the La
Porte Development Corporation. The Secretary is hereby authorized
to attest to all such signatures and to affix the seal of the
corporation to all such documents.
Section 3. The La Porte Development Corporation officially
finds, determines, recites, and declares that a sufficient written
notice of the date, hour, place and subject of this meeting of the
La Porte Development Corporation was posted at a place convenient
to the public at the City Hall of the City of La Porte for the time
required by law preceding this meeting, as required by the Open
Meetings Law, Chapter 551, Texas Government Code; and that this
meeting has been open to the public as required by law at all times
during which this resolution and the subject matter thereof has
been discussed, considered and formally acted upon. The La Porte
Development Corporation further ratifies, approves and confirms
such written notice and the contents and posting thereof.
section 4. This Resolution shall be effective from and after
its passage and approval.
PASSED AND APPROVED this 24th day of January, 2005.
CORPORATION
By:
,ATTEST:
'.-tr;Mtur#~1
Secretary
2
Office of the Governor
Economic Development and Tourism
Texas Leverage Fund Application
CERTIFICATION OF APPLICATION
Industrial Development Corporation (IDC) Certification and Request
The La Porte Development Corporation (IDC) hereby applies for a Texas Leverage Fund (TLF) loan in the amount of
$1,000,000 for a term of 10 years from the Texas Leverage Fund. The proceeds of this loan are intended to fund an
eligible project defined under the Development Corporation Act. The proceeds of this loan will be used to fund a Program
Loan to Cartegra (User - if applicable).
I understand and acknowledge that all underwriting responsibilities are those of the City and the IDC, and the State
of Texas assumes no responsibility for loan repayment, and that the Texas Leverage Fund loan, if approved, will be
repaid directly by our local option sales and use tax for economic development.
I certify that the representations made, the facts stated in this application and all supplemental documents are true,
and that no relevant facts have been intentionally omitted, as evidenced by my signature below. The IDC agrees to
comply with the reporting requirements and will provide other documentation as requested.
D-r'.' M-
Signature: f ~Ct t(
(IOC epresentative)
IlUf//7~
Date:
GIVEN under my hand and seal of office this
day of
Notary Public, State of Texas
(Notary Seal)
My commission expires:
~
I~~N~-
Page 4 of 24
March 2004
Office of the Governor
Economic Development and Tourism
Texas Leverage Fund Application
CERTIFICATION OF APPLICATION
City Certification and Request
First Name: Alton
Last Name: Porter
Title: Mavor
Organization: Citv of La Porte
Street Address: 604 West Fairmont Parkwav
Mailing Address: 604 West Fairmont Parkwav
City: La Porte
State: TX
Zip: 77571
Phone Number: 281471-5020
Fax Number: 281 471 7168
Email Address: Dortera(IDci.la-porte.be.us
The La Porte Development Corporation (IDC) hereby applies for a Texas Leverage Fund (TLF) loan in the amount of
$1,000,000 for a term of 10 years from the Texas Leverage Fund. The proceeds of this loan are intended to fund an
eligible project defined under the Development Corporation Act. The proceeds of this loan will be used to fund a Program
Loan to Cartegra (User - if applicable).
I understand and acknowledge that all underwriting responsibilities are those of the City and the IDC, and the State
of Texas assumes no responsibility for loan repayment, and that the Texas Leverage Fund loan, if approved, will be
repaid directly by our local option sales and use tax for economic development.
I certify that the representations made, the facts stated in this application and all supplemental documents are true,
and that no relevant facts have been intentionally omitted, as evidenced by my signature below.
Signature:
Mayor
Date: Januarv 25. 2005
GIVEN under my hand and seal of office this
day of
Notary Public, State of Texas
(Notary Seal)
My commission expires:
*
J)~~X{\,~.
Page 3 of 24
March 2004