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La Porte Redevelopment Authority, <br />City of La Porte, Texas <br />Minutes of the Board Meeting <br />Held February 2, 2012 <br />1. Call to order — Lindsay Pfeiffer, President <br />The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, held a <br />meeting, open to the public, on the 2" d day of February, 2012; the meeting was called to order at <br />6:35 p.m. in the City Council Chambers of the City council conference Room, 604 West <br />Fairmont Parkway, La Porte, Texas; and the roll was called of the duly appointed members of the <br />Board, to wit: <br />Peggy Antone <br />Position 1 <br />Dave Turnquist <br />Position 2 <br />Alton Porter <br />Position 3 <br />Horace Leopard <br />Position 4 <br />Doug Martin <br />Position 5 <br />JJ Meza <br />Position 6 <br />Lloyd Graham <br />Position 7 <br />Chester Pool <br />Position 8 <br />Lin Pfeiffer <br />Position 9 - Chairman <br />and all of the above were present except Director Pfeiffer, Porter and Graham, thus constituting a <br />quorum. Also present at the meeting were Stacey Osborne, and David Hawes, <br />2. Consider approval of the minutes of Board of Directors Meeting held on August 17, 2011. <br />Upon motion made by Director Antone, seconded by Director Turnquist, the board voted <br />unanimously to approve minutes as presented. <br />3. Receive and consider proposals from audit firms to conduct the La Porte Redevelopment <br />Authority FY 2011 Audit. <br />Mr. Hawes reviewed the two proposals submitted to the Redevelopment Authority with the <br />board. Upon motion made by Director Antone, seconded by Director Meza, the board voted <br />unanimously to approve the McCall Gibson, LLC to conduct the FY 2011 Audit. <br />4. Approve Collateral Assignment of Development Agreement. <br />Mr. Hawes reviewed with the board a Collateral Assignment Agreement of Development <br />Agreement on behalf of Port Crossing Land, LP to The Northern Trust Company. The <br />Developer refinanced their project with a new bank and an assignment is required. Upon motion <br />made by Director Leopard, seconded by Director Turnquist, the board voted unanimously to <br />approve the Collateral Assignment of development agreement as presented. <br />