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Home My WebLink About07-27-20 Regular Meeting of the La Porte Development Corporation Board (Generally limited to five minutes per person; in accordance with state law, the time may be reduced if there is a high number of speakers or other considerations.) Hear announcements concerning matters appearing on the agenda; items of community interest; and/or inquiries of staff regarding specific factual information or existing policy from the Committee members and City staff, for which noformal action will be discussed or taken. La Porte Development Corporation Project Scorecard -- PRIORITIES Project's Project's 10 Year Project's Full Time Project's Existing Incentive Value # of New % Allowed by Regression Estimated PRIORITY Value Tax or PILOT Multiplier Value Job Avg. 10 Year Allowed by Tax Project TypeFull Time Tax Abatement 67 Analysis Incentive Value 123 458 JobsPolicy (Up to 10) Revenue (Up to 4) Value Incentives Abatement Policy New Retail/Restaurant Dev. A 10$3,420,00020.00.0$0342.0$2,565,000$355,00050% (Higher) A1 Palais Royal10$471,0002160$047.1$353,250$17,75050% Retail or Restaurant Re-Development/ B 9$684,000100$030.8$230,850$71,00050% Blight Removal/EHG (Higher) B1 9$846,62821000$076.2$571,474$11,65750% Pipeline Grill B2 Fischer's Hardware9$210,500280$018.9$142,088$17,75050% C 8$1,532,500200$0122.6$919,500$133,12550% Quality Waterfront Development D Main Street Improvements7$648,500300$068.1$510,694$62,12550% D1 7$35,500380.1$03$22,365$8,87550% Bank Building Remodel D2 7$105,5002120.1$09$66,465$8,87550% Micro-Brewery (Purchase) New Retail/Restaurant Dev. E 6$826,000100$024.8$185,850$106,50050% (Lower) - Rob Johnson/Dollar Tree Retail or Restaurant Re-Development/ F 6$121,000100$03.6$27,225$3,55050% Blight Removal/EHG (Lower) F1 El Toro6$542,0002120$032.5$243,900$35,50050% Industry - NEW Development G 5$11,182,5004240.125$4,579,500396$2,971,350$2,662,50010% (Higher) - INEOS Unit #1 - $250 Million G1 5$22,365,0004600.125$9,159,0001981$14,856,750$2,662,50010% INEOS Unit #2 - $500 Million G2 5$1,136,0003400.125$085$639,000$56,80010% Project Regulate G3 5$426,0003730.13$061$454,808$21,30010% ACT Turbo (New Industry) H 4$142,0004300.15$010$76,680$7,10010% NEW Office/HQ - InterGulf Corporation I 4$10,6504750.15$02$14,378$1,77510% NEW Office/Regional - Richard Industrial Group Industry - NEW Development J 3$568,0004350.1$024$178,920$28,40010% (Lower) - Sector 23 (Original) J1 3$1,278,0004720.1$0110$828,144$28,40010% Sector 23 (Latest) Industry - RETENTION/EXPANSION K 3$426,0003730.13$036$272,885$21,30010% (Higher) - ACT Turbo (Expansion) Industry - RETENTION/EXPANSION L 2$710,0003150.075$05$35,944$35,50010% (Lower) M Airport Re-Development1$177,5002300.1$01$7,988$8,87510% Notes: 1. Staff assigned prioritized values, from a maximum of 10 to a minimum of 1, based upon his understanding of the City Council and 4B Board’s values for various types of projects. 2. Thevalues in this column include revenues from property taxes, business personal proeprty taxes, and sales taxes. 3. Staff assigned a value, from a maximum of 4 to a minimum of 1, for each project. A value of 4 means that the project will have a significant multiplier effect to bring new money and/orpeople into our local economy. A value of 1 means that the project will have little or no multiplier effect to bring new money and/or people into our local economy. 4. Staff assigned a value, from a maximum of 0.15 to a minimum of 0.075, for each type of “primary job” associated with each project type. A value of 0.15 was assigned to higherpaying,whitecollar , engineering, engineering design, or executive positions. A value of 0.125 was assigned to highly skilled positions for a process technician and/or advanced manufacturer. A value of 0.10 was assigned to skilled positions. A value of 0.075 was assigned tounskilled positions. 5. Data in this column identifies all other local incentives, like PILOT abatements under an existing IDA or scheduled TIRZ reimbursements, that any project may be entitled to receive. 6. The formulas in this column represent staff’s best estimate using regression analysis to tie together all the columns of data. Important assumptions of the formulas are as follows: xRetail projects are five times (5x) more attractive to the community than industrial projects. For reference, please see page #6 of La Porte’s enclosedTax Abatement Policy. xEach “project type” is not equal to every other project type. Therefore, each project type’s priority value is included in the formula. xThe value of incentives that a project is already scheduled to receive, and is shown in the “Project's Existing 10 Year Incentives”, must be deducted from the total tax/PILOT revenuethat the project is expected to generate, which is shown in “Project's 10 Year Tax or PILOT Revenue“. x Each project’s value to create a “multiplier effect” on our local economy should be included. See the values listed under “Project's Multiplier Value (Up to 4)"above. x Each value in the column for “Regression Analysis” is divided by 1 million to make the values under “Regression Analysis”smaller, more manageable, and easier to compare. The two (2) basic formulas used in “Regression Analysis” are as follows: (a) For all Retail, Restaurant, Re-Development, and Waterfront Projects, “Project's PRIORITY Value (Up to 10)” x 5 times“Project's 10 Year Tax or PILOT Revenue” –“Project's Existing 10 Year Incentives”times“Project's Multiplier Value (Up to 4)”divided by 1 million. (b) For all Industry and Office Projects,“Project's PRIORITY Value (Up to 10)” x 1 times“Project's 10 Year Tax or PILOT Revenue” –“Project's Existing 10 Year Incentives”times“Project's Multiplier Value (Up to 4)”divided by 1 million. 7. The values in this column are simply the value from the column called “Regression Analysis” times $7,500. 8. Data in this column shows the value of incentive recommended for each project type, according to the La Porte’s current Tax Abatement Policy. Projects identified in dark greentext represent projects that have either already been awarded an incentive grant, or staff has good estimates for the projects.All other projects are completely "hypothetical". A. Hypothetical -$20 millionretail/restaurant/mixed use development project with $10 million in annual retail sales. A1. Palais Royal -$1 million property value with $2 million in annual retail sales. B. Hypothetical -$4 millionproject with $2 million in annual retail sales. B1.Pipeline Grill -$1.2 million in commercial property with $4 million in annual retail sales. B2. Fischer's Hardware -$1.5 million in commercial property with $520,000 in additional, annual retail sales. C. Hypothetical -$7.5 millionwith $5 million in annual retail sales. D. Hypothetical -$3.5 million with $2 millionin annual retail sales. D1.Micro-Brewery (Lease) -$500,000 in commercial property value, $350,000 in annual retail sales, 12 full time employees, and rent of $48,000/year for five years. D2.Micro-Brewery (Purchase)-$500,000 in commercial property value, $350,000 in annual retail sales, and 12 full time employees E.Rob Johnson/Dollar Tree -$6 million project with $2 million in annual retail sales. F. Hypothetical-$1 million project with $250,000 in annual retail sales. F1.El Toro-$2 million in new commercial property, plus $2 million in additional, annual retail sales. G. INEOS USA, LLC -Unit#1, $250 million investment, 84 highly skilled, full time jobs, 20% IDA for years #1-6, 63% IDA for years #7-10. G1.INEOS USA, LLC-Unit #2, $500 million investment, highly skilled, full time jobs, 20% IDA for years #1-6, 63% IDA for years #7-10 G2.Project Regulate-$16 million investment, with at least 40 (to 60 within 5 years) highly skilled, advanced manufacturing, full time jobs. (Note: Project would be in the TIRZ). G3.ACT Turbo (New Industry)-$6 million investment with 73 new, highly skilled, advanced manufacturing, full time jobs. H. InterGulf Corporation -$2million investment with 30 white collar, higher paying, full time jobs. I. RichardIndustrial Group -$500,000 investment with 75 white collar, higher paying, full time jobs. (Note: the 10 year PILOT is based on 3 years, equal to the term of the lease, rather than the usual 10 year timeframe.) J. Sector 23 (Original) -$8 million investmentand 35 full time, skilled jobs assuming 15 buildings, 3 employees per building, and minus 10 employees per the development agreement. J1. Sector 23 (Latest)-$18million investment and est. 72 full time, skilled jobs assuming 18 buildings, 4 employees per building. K. ACT Turbo (Expansion) -$6 million investment with 73 new, highly skilled, advanced manufacturing, full time jobs. L. Hypothetical-Warehouse/Distribution, $10 million investment, 15 unskilled, full time jobs. M. Hypothetical -Airport expansion, $2.5 million city participation/investmentwith30 skilled, full time jobs. LEGAL/PUBLIC NOTICES $10.50 per column inch LIQUOR LEGAL NOTICES $11.50 per column inch Dmbttjgjfet LEGAL NOTICESFOR SALE ITT PUBLIC NOTICES 1320 W Tyler St. La Porte, TX 77571 To Place Legal and Public Notices: Email editor@bayareaobserver.com or Call 281-907-3140 832-403-9586 VSF# 0648738 The City of La Porte Sealed Bid #20011 – Broadway Trail Lighting Project-Phase I will be www.tdlr.texas.gov accepted until 2:00 p.m. CST on Tuesday, March 31, 2020 at the City Hall information desk located at 604 W. Fairmont Pkwy., La Porte, Texas 77571. Solicitations will be opened and Vin# read immediately following the closing hour. Information to register and bid visit: www. LXDACJANSF1B00462 publicpurchase.com . For questions, contact purchasing@laportetx.gov. Total Charges: $775.91 If the vehicle is not claimed The City of La Porte Request for Proposal #20504 – Fleet Maintenance Software will be 30 days after the date this accepted until 2:00 p.m. CST on Thursday, April 2, 2020 at the City Hall information desk notice is sent gives this ve- HELP WANTED located at 604 W. Fairmont Pkwy., La Porte, Texas 77571. Proposals will be opened and hicle storage facility the right to dispose of the vehicle. read immediately following the closing hour. Information to register and bid visit: www. Additionally failure to claim publicpurchase.com . For questions, contact purchasing@laportetx.gov. the vehicle is a wavier of all right, title, or interest in the The City of La Porte Request for Proposal #20505 – Residential Solid Waste Collection vehicle and personal will be accepted until 2:00 p.m. CST on Thursday, March 26, 2020 at the City Hall infor- Property and a consent to sell mation desk located at 604 W. Fairmont Pkwy., La Porte, Texas 77571. Proposals will be the vehicle at a public sale. opened and read immediately following the closing hour. Information to register and bid visit: www.publicpurchase.com . For questions, contact purchasing@laportetx.gov. FOR SALE - AUTO Notice to Bidders 2003 Sealed Bid Project #2020-02 Ford Quad Cab Disposal of Municipal Sludge F150 Sealed Request for Proposals for Disposal of Municipal Sludge, Seabrook Project No. Leather Interior, 2020-02 will be received until 2:00 PM on March 24, 2020 by the Purchasing Coordinator, Great Condition, Ashish Patel, 1700 First Street, Seabrook, Texas 77586. Bids must be received and time Body and interior stamped by the Purchasing Coordinator prior to the aforementioned time, when they will be publicly opened and read aloud in City Council Chambers. No late bids will be accepted. ingreat shape. Solid Bidding documents may be obtained at Seabrook City Hall or by contacting the Purchasing engine and trans. Cold Coordinator, Ashish Patel through email apatel@seabrooktx.gov. No pre-bid conference A/C will be held. $4975 obo 281-413-3850 into pursuant to this advertisement, minority business enterprises will be afforded equal opportunities to submit bids in response to this invitation and will not be discriminated against on the grounds of race, color, sex, age, religion, or national origin in consideration FOR SALE - MISC for an award. FOR SALE Bids, to waive irregularities or technicalities, to re-advertise, or to proceed to do the work otherwise when in the best interest of the City of Seabrook. 15 Sheets of 1/2 Inch Notice of Proposed Project of the Plywood. La Porte Development Corporation Board (Type B) Used to cover windows for 100 W. Main Street Renovation Project: Pursuant to Texas Local Government Code Sec- storms. tion 505.160 notice is hereby given that the La Porte Development Corporation Board - $20 for all sidering granting an incentive to an eligible business enterprise in an amount not to exceed 281-471-6131 $85,000.00. The purpose of the project is to promote and develop new and expanded busi- Main Street, which location is legally described as Lots 18, 19, 20, & 21 & the South 14 WANTED feet of Lot 22, Block 60, Town of La Porte Subdivision In accordance with Texas Local Government Code 505.160 the public has a right to gather WANT TO BUY a petition to object to the proposed projects by requiring an election. The petition must re- RESIDENTIAL quest that an election be held before the project is undertaken and must be signed by more than ten percent (10%) of the registered voters of the City of La Porte. The petition must be LOTS received by the City of La Porte not later than the sixtieth (60th) day after the publication La Porte of this notice. & Surrounding Areas - Call PorteTX.Gov or 281-470-5016 with any questions or comments you may have. 832-423-9055 TBMFT Uif!Cbz!Bsfb!Pctfswfs!jt!mppljoh!gps!b!dpnnjttjpo cbtfe!bewfsujtjoh!tbmft!sfqsftfoubujwf"! Jg!zpv!bsf!b!tfmg!tubsufs!xjui!uif!bcjmjuz!up!xpsl!joefqfoefoumz-!qpttftt!fydfmmfou!ujnf! nbobhfnfou!boe!qipof!tljmmt-!ibwf!b!qbttjpo!gps!!nbljoh!b!ejggfsfodf!jo!uif!dpnnvojuz-! qpttftt!uif!bcjmjuz!up!fbso!dmjfou!usvtu-!Xf!xpvme!mjlf!up!ubml!up!zpv"! Fnbjm!sftvnf!up;!fejupsAcbzbsfbpctfswfs/dpn ps!nbjm!up;!Cbz!Bsfb!Pctfswfs-!Q/P/!Cpy!93-!Mb!Qpsuf-!UY!88683 Dsfbujoh!dvtupnfs!bxbsfoftt! jt!lfz!up!tvddftt!jo!cvtjoftt Uif!Cbz!Bsfb Pctfswfs!! jt!bo!bewfsujtjoh!wfijdmf!uibu!efmjwfst Fyqboe!zpvs!sfbdi!uispvhib!tusbufhjd!bewfsujtjoh!qmbo!! uibu!xjmm!ifmq!zpv!cvjmezpvs!dvtupnfs!cbtf UP!HFU!TUBSUFE!DBMM 281-402-5033! ps!fnbjm;!fejupsAcbzbsfbpctfswfs/dpn LEGAL/PUBLIC NOTICES $10.50 per column inch LIQUOR LEGAL NOTICES $11.50 per column inch Dmbttjgjfet LEGAL NOTICESFOR SALE ITT PUBLIC NOTICES 1320 W Tyler St. La Porte, TX 77571 To Place Legal and Public Notices: Email editor@bayareaobserver.com or Call 281-907-3140 832-403-9586 VSF# 0648738 The City of La Porte Sealed Bid #20011 – Broadway Trail Lighting Project-Phase I will be www.tdlr.texas.gov accepted until 2:00 p.m. CST on Tuesday, March 31, 2020 at the City Hall information desk located at 604 W. Fairmont Pkwy., La Porte, Texas 77571. Solicitations will be opened and Vin# read immediately following the closing hour. Information to register and bid visit: www. LXDACJANSF1B00462 publicpurchase.com . For questions, contact purchasing@laportetx.gov. Total Charges: $775.91 If the vehicle is not claimed The City of La Porte Request for Proposal #20504 – Fleet Maintenance Software will be 30 days after the date this accepted until 2:00 p.m. CST on Thursday, April 2, 2020 at the City Hall information desk notice is sent gives this ve- HELP WANTED located at 604 W. Fairmont Pkwy., La Porte, Texas 77571. Proposals will be opened and hicle storage facility the right to dispose of the vehicle. read immediately following the closing hour. Information to register and bid visit: www. Additionally failure to claim publicpurchase.com . For questions, contact purchasing@laportetx.gov. the vehicle is a wavier of all right, title, or interest in the The City of La Porte Request for Proposal #20505 – Residential Solid Waste Collection vehicle and personal will be accepted until 2:00 p.m. CST on Thursday, March 26, 2020 at the City Hall infor- Property and a consent to sell mation desk located at 604 W. Fairmont Pkwy., La Porte, Texas 77571. Proposals will be the vehicle at a public sale. opened and read immediately following the closing hour. Information to register and bid visit: www.publicpurchase.com . For questions, contact purchasing@laportetx.gov. FOR SALE - AUTO Notice to Bidders 2003 Sealed Bid Project #2020-02 Ford Quad Cab Disposal of Municipal Sludge F150 Sealed Request for Proposals for Disposal of Municipal Sludge, Seabrook Project No. Leather Interior, 2020-02 will be received until 2:00 PM on March 24, 2020 by the Purchasing Coordinator, Great Condition, Ashish Patel, 1700 First Street, Seabrook, Texas 77586. Bids must be received and time Body and interior stamped by the Purchasing Coordinator prior to the aforementioned time, when they will be publicly opened and read aloud in City Council Chambers. No late bids will be accepted. ingreat shape. Solid Bidding documents may be obtained at Seabrook City Hall or by contacting the Purchasing engine and trans. Cold Coordinator, Ashish Patel through email apatel@seabrooktx.gov. No pre-bid conference A/C will be held. $4975 obo 281-413-3850 into pursuant to this advertisement, minority business enterprises will be afforded equal opportunities to submit bids in response to this invitation and will not be discriminated against on the grounds of race, color, sex, age, religion, or national origin in consideration FOR SALE - MISC for an award. FOR SALE Bids, to waive irregularities or technicalities, to re-advertise, or to proceed to do the work otherwise when in the best interest of the City of Seabrook. 15 Sheets of 1/2 Inch Notice of Proposed Project of the Plywood. La Porte Development Corporation Board (Type B) Used to cover windows for 100 W. Main Street Renovation Project: Pursuant to Texas Local Government Code Sec- storms. tion 505.160 notice is hereby given that the La Porte Development Corporation Board - $20 for all sidering granting an incentive to an eligible business enterprise in an amount not to exceed 281-471-6131 $85,000.00. The purpose of the project is to promote and develop new and expanded busi- Main Street, which location is legally described as Lots 18, 19, 20, & 21 & the South 14 WANTED feet of Lot 22, Block 60, Town of La Porte Subdivision In accordance with Texas Local Government Code 505.160 the public has a right to gather WANT TO BUY a petition to object to the proposed projects by requiring an election. The petition must re- RESIDENTIAL quest that an election be held before the project is undertaken and must be signed by more than ten percent (10%) of the registered voters of the City of La Porte. The petition must be LOTS received by the City of La Porte not later than the sixtieth (60th) day after the publication La Porte of this notice. & Surrounding Areas - Call PorteTX.Gov or 281-470-5016 with any questions or comments you may have. 832-423-9055 TBMFT Uif!Cbz!Bsfb!Pctfswfs!jt!mppljoh!gps!b!dpnnjttjpo cbtfe!bewfsujtjoh!tbmft!sfqsftfoubujwf"! Jg!zpv!bsf!b!tfmg!tubsufs!xjui!uif!bcjmjuz!up!xpsl!joefqfoefoumz-!qpttftt!fydfmmfou!ujnf! nbobhfnfou!boe!qipof!tljmmt-!ibwf!b!qbttjpo!gps!!nbljoh!b!ejggfsfodf!jo!uif!dpnnvojuz-! qpttftt!uif!bcjmjuz!up!fbso!dmjfou!usvtu-!Xf!xpvme!mjlf!up!ubml!up!zpv"! Fnbjm!sftvnf!up;!fejupsAcbzbsfbpctfswfs/dpn ps!nbjm!up;!Cbz!Bsfb!Pctfswfs-!Q/P/!Cpy!93-!Mb!Qpsuf-!UY!88683 Dsfbujoh!dvtupnfs!bxbsfoftt! jt!lfz!up!tvddftt!jo!cvtjoftt Uif!Cbz!Bsfb Pctfswfs!! jt!bo!bewfsujtjoh!wfijdmf!uibu!efmjwfst Fyqboe!zpvs!sfbdi!uispvhib!tusbufhjd!bewfsujtjoh!qmbo!! uibu!xjmm!ifmq!zpv!cvjmezpvs!dvtupnfs!cbtf UP!HFU!TUBSUFE!DBMM 281-402-5033! ps!fnbjm;!fejupsAcbzbsfbpctfswfs/dpn La Porte Development Corporation Project Scorecard -- PRIORITIES Project's Project's 10 Year Project's Full Time Project's Existing Incentive Value # of New % Allowed by Regression Estimated PRIORITY Value Tax or PILOT Multiplier Value Job Avg. 10 Year Allowed by Tax Project TypeFull Time Tax Abatement 67 Analysis Incentive Value 123 458 JobsPolicy (Up to 10) Revenue (Up to 4) Value Incentives Abatement Policy New Retail/Restaurant Dev. A 10$3,420,00020.00.0$0342.0$2,565,000$355,00050% (Higher) A1 Palais Royal10$471,0002160$047.1$353,250$17,75050% Retail or Restaurant Re-Development/ B 9$684,000100$030.8$230,850$71,00050% Blight Removal/EHG (Higher) B1 9$846,62821000$076.2$571,474$11,65750% Pipeline Grill B2 Fischer's Hardware9$210,500280$018.9$142,088$17,75050% C 8$1,532,500200$0122.6$919,500$133,12550% Quality Waterfront Development D Main Street Improvements7$648,500300$068.1$510,694$62,12550% D1 7$35,500380.1$03$22,365$8,87550% Bank Building Remodel D2 7$105,5002120.1$09$66,465$8,87550% Micro-Brewery (Purchase) New Retail/Restaurant Dev. E 6$826,000100$024.8$185,850$106,50050% (Lower) - Rob Johnson/Dollar Tree Retail or Restaurant Re-Development/ F 6$121,000100$03.6$27,225$3,55050% Blight Removal/EHG (Lower) F1 El Toro6$542,0002120$032.5$243,900$35,50050% Industry - NEW Development G 5$11,182,5004240.125$4,579,500396$2,971,350$2,662,50010% (Higher) - INEOS Unit #1 - $250 Million G1 5$22,365,0004600.125$9,159,0001981$14,856,750$2,662,50010% INEOS Unit #2 - $500 Million G2 5$1,136,0003400.125$085$639,000$56,80010% Project Regulate G3 5$426,0003730.13$061$454,808$21,30010% ACT Turbo (New Industry) H 4$142,0004300.15$010$76,680$7,10010% NEW Office/HQ - InterGulf Corporation I 4$10,6504750.15$02$14,378$1,77510% NEW Office/Regional - Richard Industrial Group Industry - NEW Development J 3$568,0004350.1$024$178,920$28,40010% (Lower) - Sector 23 (Original) J1 3$1,278,0004720.1$0110$828,144$28,40010% Sector 23 (Latest) Industry - RETENTION/EXPANSION K 3$426,0003730.13$036$272,885$21,30010% (Higher) - ACT Turbo (Expansion) Industry - RETENTION/EXPANSION L 2$710,0003150.075$05$35,944$35,50010% (Lower) M Airport Re-Development1$177,5002300.1$01$7,988$8,87510% Notes: 1. Staff assigned prioritized values, from a maximum of 10 to a minimum of 1, based upon his understanding of the City Council and 4B Board’s values for various types of projects. 2. Thevalues in this column include revenues from property taxes, business personal proeprty taxes, and sales taxes. 3. Staff assigned a value, from a maximum of 4 to a minimum of 1, for each project. A value of 4 means that the project will have a significant multiplier effect to bring new money and/orpeople into our local economy. A value of 1 means that the project will have little or no multiplier effect to bring new money and/or people into our local economy. 4. Staff assigned a value, from a maximum of 0.15 to a minimum of 0.075, for each type of “primary job” associated with each project type. A value of 0.15 was assigned to higherpaying,whitecollar , engineering, engineering design, or executive positions. A value of 0.125 was assigned to highly skilled positions for a process technician and/or advanced manufacturer. A value of 0.10 was assigned to skilled positions. A value of 0.075 was assigned tounskilled positions. 5. Data in this column identifies all other local incentives, like PILOT abatements under an existing IDA or scheduled TIRZ reimbursements, that any project may be entitled to receive. 6. The formulas in this column represent staff’s best estimate using regression analysis to tie together all the columns of data. Important assumptions of the formulas are as follows: xRetail projects are five times (5x) more attractive to the community than industrial projects. For reference, please see page #6 of La Porte’s enclosedTax Abatement Policy. xEach “project type” is not equal to every other project type. Therefore, each project type’s priority value is included in the formula. xThe value of incentives that a project is already scheduled to receive, and is shown in the “Project's Existing 10 Year Incentives”, must be deducted from the total tax/PILOT revenuethat the project is expected to generate, which is shown in “Project's 10 Year Tax or PILOT Revenue“. x Each project’s value to create a “multiplier effect” on our local economy should be included. See the values listed under “Project's Multiplier Value (Up to 4)"above. x Each value in the column for “Regression Analysis” is divided by 1 million to make the values under “Regression Analysis”smaller, more manageable, and easier to compare. The two (2) basic formulas used in “Regression Analysis” are as follows: (a) For all Retail, Restaurant, Re-Development, and Waterfront Projects, “Project's PRIORITY Value (Up to 10)” x 5 times“Project's 10 Year Tax or PILOT Revenue” –“Project's Existing 10 Year Incentives”times“Project's Multiplier Value (Up to 4)”divided by 1 million. (b) For all Industry and Office Projects,“Project's PRIORITY Value (Up to 10)” x 1 times“Project's 10 Year Tax or PILOT Revenue” –“Project's Existing 10 Year Incentives”times“Project's Multiplier Value (Up to 4)”divided by 1 million. 7. The values in this column are simply the value from the column called “Regression Analysis” times $7,500. 8. Data in this column shows the value of incentive recommended for each project type, according to the La Porte’s current Tax Abatement Policy. Projects identified in dark greentext represent projects that have either already been awarded an incentive grant, or staff has good estimates for the projects.All other projects are completely "hypothetical". A. Hypothetical -$20 millionretail/restaurant/mixed use development project with $10 million in annual retail sales. A1. Palais Royal -$1 million property value with $2 million in annual retail sales. B. Hypothetical -$4 millionproject with $2 million in annual retail sales. B1.Pipeline Grill -$1.2 million in commercial property with $4 million in annual retail sales. B2. Fischer's Hardware -$1.5 million in commercial property with $520,000 in additional, annual retail sales. C. Hypothetical -$7.5 millionwith $5 million in annual retail sales. D. Hypothetical -$3.5 million with $2 millionin annual retail sales. D1.Micro-Brewery (Lease) -$500,000 in commercial property value, $350,000 in annual retail sales, 12 full time employees, and rent of $48,000/year for five years. D2.Micro-Brewery (Purchase)-$500,000 in commercial property value, $350,000 in annual retail sales, and 12 full time employees E.Rob Johnson/Dollar Tree -$6 million project with $2 million in annual retail sales. F. Hypothetical-$1 million project with $250,000 in annual retail sales. F1.El Toro-$2 million in new commercial property, plus $2 million in additional, annual retail sales. G. INEOS USA, LLC -Unit#1, $250 million investment, 84 highly skilled, full time jobs, 20% IDA for years #1-6, 63% IDA for years #7-10. G1.INEOS USA, LLC-Unit #2, $500 million investment, highly skilled, full time jobs, 20% IDA for years #1-6, 63% IDA for years #7-10 G2.Project Regulate-$16 million investment, with at least 40 (to 60 within 5 years) highly skilled, advanced manufacturing, full time jobs. (Note: Project would be in the TIRZ). G3.ACT Turbo (New Industry)-$6 million investment with 73 new, highly skilled, advanced manufacturing, full time jobs. H. InterGulf Corporation -$2million investment with 30 white collar, higher paying, full time jobs. I. RichardIndustrial Group -$500,000 investment with 75 white collar, higher paying, full time jobs. (Note: the 10 year PILOT is based on 3 years, equal to the term of the lease, rather than the usual 10 year timeframe.) J. Sector 23 (Original) -$8 million investmentand 35 full time, skilled jobs assuming 15 buildings, 3 employees per building, and minus 10 employees per the development agreement. J1. Sector 23 (Latest)-$18million investment and est. 72 full time, skilled jobs assuming 18 buildings, 4 employees per building. K. ACT Turbo (Expansion) -$6 million investment with 73 new, highly skilled, advanced manufacturing, full time jobs. L. Hypothetical-Warehouse/Distribution, $10 million investment, 15 unskilled, full time jobs. M. Hypothetical -Airport expansion, $2.5 million city participation/investmentwith30 skilled, full time jobs. City of La Porte La Porte Development Corporation (038) Fund Summary (Section 4B Sales Tax) Beginning Fund Balance 9/30/19$ 4,270,133 Plus Estimated 19-20 Revenues 2,886,457 Less Estimated 19-20 Expenditures and Commitments Economic Development Operations 253,451 Debt Payments 1,004,822 Capital Projects/Transfers 1,292,950 Total Expenditures 2,551,223 Estimated Fund Balance 9/30/20 4,605,367 Plus 20-21 Revenues: 1/2 Cent Sales Tax 2,999,644 Interest Income 25,000 Total Revenues 3,024,644 Equals Total Resources 7,630,011 Less 20-21 Expenditures: Economic Development Operations 807,628 Debt Service Transfer 773,470 Transfer to General CIP Fund: Golf Course Infrastructure II 600,000 Handicap Playground 250,000 14th Street Playground 55,000 Fairmont Park Fitness Equipment 50,000 Eight Bus Covers 12,000 Total Expenditures 2,548,098 Ending Fund Balance 9/30/21$ 5,081,913 EstimatedProjected 2019-202020-21 Revenues$ 2,886,457$ 3,024,644 Expenditures & Commitments 2,551,223 2,548,098 Revenues over Expenditures$ 335,234$ 476,546 *Debt Service Payments for Library, Bay Area Boulevard & Canada Road and Ballfields. City of La Porte La Porte Development Corporation Fund (038) Statement of Revenues ActualBudgetRevisedProjected ObjectDescription2018-192019-202019-202020-21 Charges for Services: 403.02-001/2 Cent Sales Tax$ 3,250,280$ 2,750,000$ 2,850,457$ 2,999,644 Charges for Services Subtotal 3,250,280 2,750,000 2,850,457 2,999,644 Interest: 483.01-00Interest Income 89,116 50,000 36,000 25,000 Interest Subtotal 89,116 50,000 36,000 25,000 Total La Porte Development Corp Fund Revenues$ 3,339,396$ 2,800,000$ 2,886,457$ 3,024,644 Economic Development Corporation Fiscal Year 2020-21 Expenditure Summary ActualBudgetEstimatedRequestedPercent 2018-192019-202019-202020-21Change Personal Services$ 101,056 $ 112,787$ 112,618$ 113,3230.48% Supplies 706 900 525 9000.00% Services & Charges 3,105,632 2,815,510 2,438,080 2,433,875-13.55% Division Total$ 3,207,394$ 2,929,197$ 2,551,223$ 2,548,098-13.01% Scope of Services Summary TheEconomicDevelopmentDivisionworkswiththeEconomicDevelopmentCorporationBoardtoestablish directionandpolicesrelatedtoeconomicdevelopmentprojectsintheCity.TheDepartmentanditsactivities arefundedthroughthecollectionofa1/2centsalestax,whichmustbespentoneconomicdevelopment projectsrelatedtocapitalinvestment,qualityoflife,recreation,and/orprimaryjobcreation.Pastactivitieshave includedthere-nourishmentofSylvanBeach,theballfieldsatPecanPark,theCommunityLibrary,construction ofCanadaRoad,ConstructionofBayAreaBlvd.,theSportsComplex,andinfrastructureimprovementsonMain Street. Wewillcontinuetoworkwithourregionaleconomicdevelopmentpartnersonbusinessretentionandexpansion programs,smallbusinessdevelopment,marketingefforts,workforceinitiatives,transportationissuesandquality oflifeissues.TheEconomicDevelopmentCoordinatorwillalsoserveastheBusinessOmbudsmanfortheCityof La Porte, assisting new and existing businesses through the planning and zoning processes. Personnel Position Roster ApprovedApprovedRequested 2018-192019-202020-21 Economic Development Coordinator 0.75 0.75 0.75 Secretary IV 0.50 0.50 0.50 Total 1.25 1.25 1.25 City of La Porte, Texas Economic Development Corporation 038-6030-565 Detail of Expenditure ActualActualActualBudgetEstimatedRequested 2016-172017-182018-192019-202019-20Notes - Revised Estimate2020-21Notes - Departmental Request Personal Services: 1010Regular Earnings$ 8,561 $ 58,219$ 71,734$ 61,934$ 78,517$ 79,026 1020Overtime 13 299 160- - - 1035Longevity 45 128 166 3002 26 286 1060FICA 596 4,463 5,3914, 7386, 0246, 067 1065Retirement1 ,385 9,659 11, 605 10,083 12,819 12, 912 1080Insurance - Medical 10,423 13,028 12, 000 15,000 15,000 15, 000 1081Insurance - Life 31 4 - 32 32 32 1090Other Benefits - - -- - - Personal Services Subtotal 21,054 85,800 101,056 92,087 112,618 113,323 Supplies: 2001Office Supplies - 25 - 200 25 200 2002Postage 37 41 1 200- 200 2015Other Supplies 420 480 705 5005 00TIRZ Board Dinners 500TIRZ Board dinners Supplies Subtotal 457 546 706 9005 25 900 Services & Charges: 3001Memberships & Subscriptions 42,500 43,498 20,759 40,780 43,311BayTran - $2,500, Higher UMPSET and TCMA Fees 41,080 BAHEP - $20,000; Economic Alliance - $20,000; TEDC - $500; UMPSET - $25; Associate TCMA - $130; TCMA Region 6 - $25; ICSC - $400 (Coordinator and Three Board Members) 3020Training/Seminars2 ,537 3,5065 ,131 17,0794 ,5007 ,200TCMA Conference - $2,000; TEDC Conference - $1,500, Webinars - $200; Mileage - $1,500; TML Conference - $2,000 3024Tuition Reimbursement - - -3 ,500- 4060Technology Lease Fees - - - 6026 02 625 5001Accounting5 ,000 5,0005 ,0005 ,0005 ,0005 ,000Annual Audit 5003Legal2 ,325 853 31 10,000- - 5007Other Professional Services -7 8,500 75,000 81,500 81,500 81,500 Harris County Bus - $71,000; CivicPlus - $4,500; LocalIntel - $6,000 6002Printing & Reproduction - - -4 ,000500 500 6005Advertising8 ,450 3,2045 ,4607 ,5004 ,800LoopLink - $4,800 10,000 Mid-year - $0,000 6040Trade Shows - - 3432 ,500 95 12,500 Red River All In (Dallas) - $2,500; ICSC Las Vegas - $10,000 (previous year budgeted in #3020 Training/Seminars) 9050Contingency - 5,000 -- - 9997Special Programs 443,872 120,000 124,846 365,977- Potential Payment on Project G - Payment unlikely to happen 535,000Project G (Payment 1) - $250,000; Bank Building on Main - this year.$85,000; Mid-year Opportunites - $200,000 9004Adm Transfer to Fund 004 685,247 1,014,012 1,033,362 1,004,822 1,004,822 773,470 9015Adm Transfer to Fund 015 1,340,200 2,065,200 1,835,700 1,292,950 1,292,950 967,000Golf Course Infastructure 2 - $600,000; Handicap Playground - $250,000; 14th Street Playground - $55,000; Fairmont Park Fitness Equipment - $50,000; Eight Bus Covers - $12,000 Services & Charges Subtotal 2,530,131 3,338,773 3,105,632 2,836,210 2,438,080 2,433,875 Division Total$ 2,551,642$ 3,425,119 $ 3,207,394$ 2,929,197$ 2,551,223$ 2,548,098