HomeMy WebLinkAbout6-27-22RICHARD WARREN, PRESIDENT DANNY EARP, BOARD MEMBER
BRENT McCAULLEY, COUNCILPERSON JOHN BLAKEMORE, BOARD MEMBER
AMANDA GERRISH, BOARD MEMBER NANCY OJEDA, VICE-PRESIDENT
CHUCK ENGELKEN, COUNCILPERSON
CITY OF LA PORTE DEVELOPMENT CORPORATION BOARD OF DIRECTORS
MEETING AGENDA
Notice is hereby given of a meeting of the City of La Porte Development Corporation Board of
Directors to be held on June 27, 2022, at the City Hall Council Chamber, 604 West Fairmont Parkway,
La Porte, Texas, beginning at 5:00 p.m., to consider the following items of business:
Remote participation is available. Attend via a screen using the link
https://us02web.zoom.us/j/86714034897?pwd=NTRnU0tzbFJZUzhVdEVuY0s1aG1ndz09.
Join by phone at 888-475-4499 or 877-853-5257. The meeting ID is 867 1403 4897 and the passcode is
556605.
1.CALL TO ORDER
2.CITIZEN COMMENT (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.)
3.CONSENT AGENDA (Approval of Consent Agenda items authorizes each to be implemented in
accordance with staff recommendations provided. An item may be removed from the consent
agenda and added to the Statutory Agenda for full discussion upon request by a member of the
Committee present at this meeting.)
(a)Approve minutes of the regular meeting of the La Porte Development Corporation Board of
Directors held on May 23, 2022. [Chair W arren]
4.AUTHORIZATIONS
(a)Presentation, discussion, and possible action to open a 60-day public comment period for a
potential project to promote new or expanded business enterprises at 114 W. Main St., La
Porte, Texas, to be known as the Revak Building, through five-year loan of $3,200,000.00,
or alternatively, up to a $480,600.00 incentive payment [Matt Daeumer, Asst. City
Manager]
(b)Presentation, discussion, and possible action to provide direction to staff on strategic goals
and plans of the La Porte Development Corporation for promotion of future economic
development in the City of La Porte. [Matt Daeumer, Asst. City Manager]
5.SET NEXT MEETING
6.BOARD COMMENTS 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 no formal action
will be discussed or taken.
7.ADJOURN
If, during the course of the meeting and discussion of any items covered by this notice, the La Porte
Development Corporation Board determines that a Closed or Executive Session of the Board is required,
then such closed meeting will be held as authorized by Texas Government Code, Chapter 551, Section
551.071 - consultation with counsel on legal matters; Section 551.072 - deliberation regarding purchase,
exchange, lease or value of real property; Section 551.073 - deliberation regarding a prospective gift; Section
551.074 - personnel matters regarding the appointment, employment, evaluation, reassignment, duties,
discipline, or dismissal of a public officer or employee; Section 551.076 - implementation of security
personnel or devices; Section 551.087 - deliberation regarding economic development negotiation; Section
551.089 - deliberation regarding security devices or security audits, and/or other matters as authorized under
the Texas Government Code. If a Closed or Executive Session is held in accordance with the Texas
Government Code as set out above, the La Porte Development Corporation Board will reconvene in Open
Session in order to take action, if necessary, on the items addressed during Executive Session.
Persons with disabilities who plan to attend this meeting and who may need auxiliary aids or services are
requested to contact the City Secretary's office (281-470-5019), two working days prior to the meeting for
appropriate arrangements.
Pursuant to Texas Government Code Sec. 551.127, on a regular, non-emergency basis, members may attend and participate in the
meeting remotely by video conference. Should that occur, a quorum of the members will be physically present at the location noted
above on this agenda.
CERTIFICATE
I, Lee W oodward, City Secretary, do hereby certify that a copy of the J une 27, 2022, La Porte Developm ent Corporation
Board agenda was posted on the City Hall bulletin board, a place convenient and readily accessible to the general public
at all times, and to the City's website, www.LaPorteTX.gov, in compliance with Chapter 551, Texas Government Code.
DATE OF
POSTING
TIME OF
POSTING
TAKEN DOW N
Lee Woodward
Lee W oodward, City Secretary
Page 1 of 2
May 23, 2022, La Porte Development Corporation Board of Directors Minutes
RICHARD WARREN
PRESIDENT
BRENT MCCAULLEY
COUNCILPERSON
AMANDA GERRISH
BOARD MEMBER
CHUCK ENGELKEN
COUNCILPERSON
DANNY EARP
BOARD MEMBER
JOHN BLAKEMORE
BOARD MEMBER
NANCY OJEDA
VICE-PRESIDENT
MINUTES OF THE LA PORTE DEVELOPMENT CORPORATION
BOARD OF DIRECTORS MEETING OF MAY 23, 2022
The City of La Porte Development Corporation Board met on Monday, May 23, 2022, at the City Hall
Council Chambers, 604 West Fairmont Parkway, La Porte, Texas, at 5:00 p.m., with the following in
attendance:
Board members present: Nancy Ojeda, Danny Earp, Chuck Engelken, John Blakemore, Brent
McCaulley, Amanda Gerrish
Board members attending remotely: None
Board members absent: Richard Warren
Council-appointed members present: Corby Alexander, City Manager; Lee Woodward, City Secretary;
Clark Askins, Assistant City Attorney
1. CALL TO ORDER – Vice-President Ojeda called the meeting to order at 5:03 p.m.
2. CITIZEN COMMENT (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.)
There were no comments.
3. CONSENT AGENDA
a. Approve the minutes of the regular meeting of the La Porte Development Corporation held
on April 25, 2022. [President Warren]
Member Engelken moved to approve the minutes of the regular meeting of the La Porte
Development Corporation Board of Directors held on April 25, 2022; the motion was seconded by
Members Earp and Blakemore; the motion was adopted, 6-0.
b. Approve opening a 60-day public comment period in connection with possible incentive
project, not to exceed $30,000, for site improvements at 508 W. Main Street. [Matt Daeumer,
Assistant City Manager]
Member Earp moved to approve a 60-day public comment period in connection with possible
incentive project, not to exceed $30,000, for site improvements at 508 W. Main Street; the motion
was seconded by Member McCaulley; the motion was adopted, 6-0.
4. STAFF REPORTS
a. Presentation, discussion, and possible action regarding the Economic Development
Coordinator position. [Matt Daeumer, Assistant City Manager]
Mr. Daeumer addressed an application received for the Economic Development Coordinator
position.
Page 2 of 2
May 23, 2022, La Porte Development Corporation Board of Directors Minutes
5. SET DATE FOR NEXT MEETING
The next meeting date was scheduled for June 27, 2022.
6. BOARD COMMENTS 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 no formal action will be discussed or taken.
Members welcomed new member Amanda Gerrish.
ADJOURN – The meeting was adjourned without objection at 5:18 p.m.
___________________________________
Lee Woodward, City Secretary
REQUEST FOR LA PORTE DEVELOPMENT CORPORATION BOARD
AGENDA ITEM
Agenda Date Requested: June 27, 2022
Requested By: Matt Daeumer, Asst. City Manager
Department: CMO
Report Resolution Ordinance
Exhibits:
Application, Site plan, Score Card
SUMMARY
The applicants, Ed and Jody Revak have purchased the property at 114 W. Main St. with an appraised
value of $200,000. They are interested in developing what will be known as The Revak Building. This
project will consist of five retail spaces and four apartment units. The total expected cost of the project is
approximately $4,000,000. Based on the score card, the applicants qualify for up to $480,600 incentives.
The applicants plan to invest $800,000 from personal savings. They would like to request a five year,
interest free loan with a single balloon payment for $3,200,000 from the La Porte Development
Corporation Board. If this is not an option, based on the matrix, the applicants would like to request an
incentive up to $480,600.
The applicants believe this project will be the most significant Main St. development in the last 100 years
and become the cornerstone of the revitalization of downtown La Porte. The applicants will operate two
of the retail spaces personally. One will be the first franchise for Round Table Pi zza Royalty in the
Houston area. This is a fast casual, dine in restaurant using upscale ingredients. The other will be a
Wine Bar serving a small plates menu. Both the restaurant and wine bar will be operated by Ed and
Jody Revak. They already have a tenant for one of the retail spaces for a well-established nail salon
that is relocating back to La Porte.
A similar agreement was approved by this board on June 1, 2015 for the Pipeline Grill in the amount of
$300,000. Pipeline Grill has met all of their required benchmarks and has been paid in full. The
restaurant continues to thrive in our community.
The Revak Building project is one with more intangible value to the City than first meets the eye,
specifically as a foot traffic hub on Main Street and with the proximity to the Five Points Plaza it may play
a larger role than its taxable value would suggest. It follows the completion of the project at 100 W. Main
for which the Board approved an incentive development agreement in the amount of $85,000 and an
enhancement agreement in the amount of $50,000. This agreement resulted in a new brick building in
keeping with the Historic Main Street District. The building currently houses the La Porte Bayshore
Chamber of Commerce, Goodies Ice Cream and two apartment units.
The Finance Department estimates that La Porte Economic Development Corporation fund balance at
the end of FY2023 will $7,365,936. The budget expends approximately $3,000,000 per year and will
collect revenues in the amount of $3,254,000. If the Board elects to fund the loan as described above,
Appropriation
Source of Funds: Special Programs
Account Number: 038-6030-565-9997
Amount Budgeted:
Amount Requested:
Budgeted Item: Yes No
it will leave a remaining fund balance of $4,165,936 and if the Board elects to fund a grant, it will leave a
remaining fund balance of $6,885,336.
If the Board is interested in pursuing this project, staff would suggest opening the 60 day public comment
period for either the loan or grant as there would be no requirement to fund the project at the end of 60
days.
RECOMMENDED MOTION
Presentation, discussion, and possible action to open the 60 day public comment
period for a potential project to promote new or expanded business enterprises at 114
W. Main St., La Porte, Texas, to be known as the Revak Building, through five-year loan
of $3,200,000.00, or alternatively, up to a $480,6000.00 incentive payment.
Approved for the La Porte Development Corporation Board meeting agenda
Corby D. Alexander, City Manager Date
1
City of La Porte
ECONOMIC DEVELOPMENT INCENTIVES
APPLICATION
This application must be filed at least 60 days prior to the date the City Council
considers the request. Requests for incentives must be approved by the City Council
prior to the beginning of construction or installation of equipment. This application will
become part of the agreement between the applicant and the City of La Porte. Any
knowingly false representations will be grounds for voiding the agreement. This original
application must be submitted to the Economic Development Coordinator, City of La
Porte 604 W. Fairmont Parkway, La Porte, Texas 77571.
I. APPLICANT INFORMATION
1. Date of Application: 5/26/22
2. Company Name: R FAVORITE THING LLC
3. Current Number of Employees: N/A
4. Address: 114 W MAIN ST
LA PORTE TX 77573
5. Annual Sales: -0-
6. Type of Ownership: X Corporation Partnership
Proprietorship
7. Names(s) of principal owner(s), partner(s) or director of the company:
ED & JODY REVAK
8. Corporate Headquarters' address: 2015 CRESCENT DR
LA PORTE TX 77571
9. Corporate Telephone: JODY 916-425-7816 / ED 916-704-8688
2
10. Other locations and/or places of business owned and operated by the
applicant. For each location, please provide the city, state, street address
and name(s) under which business is conducted:
N/A
11. Date Organization Formed: 11/11/2021
12. Please attach most recent annual report or financial statement.
II. PROJECT INFORMATION
1. Type of Facility: Manufacturing
Distribution Center
Corporate Office or Service Center
Research and Development Facility
Regional Entertainment Facility
X Other (please specify)
RESTAURANT, WINE BAR, RETAIL
SPACES & LUXURY APTS
2. Project Description: X New Construction Expansion
Modernization
3. Location address of proposed project: 114 W MAIN ST
LA PORTE TX 77571
4. County HARRIS
5. School District LA PORTE ISD
6. Product(s) or Service: REAL ESTATE VENTURE, RESTAURANT,
WINE BAR AND RETAIL SPACES
7. Attach map and legal description of project location showing proposed
improvements. ATTACHED SITE PLAN, 3D RENDERINGS &
DRAWINGS
8. Please describe the proposed use and the specific nature and extent of
the project:
MIXED USE COMMERCIAL PROPERTY. A STRUCTURE THAT HAS
RETAIL SPACES ON GROUND FLOOR, WINE BAR AND
RESTAURANT. SECOND FLOOR HAS 5 LUXURY LOFTS
3
9. Please list all improvements and equipment for the project:
Improvement Items Cost
SEE ATTACHED DRAWINGS $4,000,000
10. Please state all sources for financing the improvements:
PERSONAL FUNDING & CITY ECONOMIC DEVELOPMENT
INCENTIVES AND FUNDS AND CITY ECONOMIC DEVELOPMENT
FINANCING FOR THE FIRST 5 YEARS
11. Please state the time frame or projected date of start and completion:
JUNE 30, 2022 – JUNE 30, 2023
12. Improvements will be completed by January 1, 2024 (specify year).
13. Please state the productive life of the proposed improvements:
100 YEARS
14. Please give a general description of business personal property (property
other than buildings, fixed machinery, inventory and supplies) that will be
purchased as a result of the project:
KITCHEN EQUIPMENT, WINE BAR EQUIPMENT, TABLES, CHAIRS,
DISHWARE, UNIFORMS, SIGNS, WINE INVENTORY, WINDOW
TREATMENTS, ARTWORK PLUS SPEC RETAIL SPACES
4
III. ECONOMIC INFORMATION
1. Number of persons currently employed by applicant:
Full Time N/A Part Time N/A
Total Annual Payroll: $ N/A
2. Number of new jobs (full time equivalent) to be created/retained by the
proposed improvements:
Number Estimate Annual Payroll Year
At Opening 22 $ 400,000 2024
At 3 years 22 $ 500,000 2027
At 5 years 26 $ 600,000 2029
3. Number of new jobs to be filled by persons residing in the City of La Porte
or Harris County:
Full Time 13 Part Time 18
4. Number of Peak Construction Jobs: 25
5. In the case of modernization, please estimate the economic life of the
existing facility: N/A years. Added economic life after modernization: N/A
years.
6. In the case of modernization, please state the assessed value of the
facility for the tax year immediately preceding this application:
Real Property $ N/A Business Personal Property $ N/A
7. Amount of taxable sales currently being generated annually in the City of
La Porte (if applicable): $ N/A .
8. Amount of projected taxable sales that the proposed improvements will
generate: 1st year - $2M, 2nd year - $2.25M, 3rd year - $3.5M,
4th year - $2.75M, 5th year - $3M
9. In the case of application based on job retention, please describe potential
job loss that would occur without economic developm ent incentives:
REVITALIZATION OF OLD LA PORTE MAIN ST IS CRUICAL TO
RETAIN JOBS & COMMERCE EAST OF 146. A VIBRANT MAIN ST
WILL RENEW OUR CITY’S SENSE OF PLACE AND WELL BEING AND
WILL BE AN ASSET TO THE ENTIRE CITY
THIS WILL BE THE MOST SIGNIFICANT MAIN ST DEVELOPMENT
THAT HAS OCCURRED IN 100 YEARS
5
Company Representative to be contacted:
ED & JODY REVAK
Name
Title
2015 CRESCENT
Address
LA PORTE TX 77571
ED 916-704-8688 / JODY 916-425-7816
Telephone
Authorized Company Official:
Authorized Signature
5/26/2022
Date
Printed Name
Title
Telephone
Project Type
Project's
PRIORITY Value
(Up to 10) 1
Project's 10 Year
Tax or PILOT
Revenue 2
Project's
Multiplier Value
(Up to 4) 3
# of New
Full Time
Jobs
Full Time
Job Avg.
Value 4
Project's Existing
10 Year
Incentives 5
Regression
Analysis 6
Estimated
Incentive Value 7
Incentive Value
Allowed by Tax
Abatement Policy 8
% Allowed by
Tax Abatement
Policy
New Retail/Restaurant Dev.
(Higher)A 10 $3,420,000 2 0.0 0.0 $0 342.0 $2,565,000 $355,000 50%
Palais Royal A1 10 $471,000 2 16 0 $0 47.1 $353,250 $17,750 50%
Retail or Restaurant Re-Development/
Blight Removal/EHG (Higher)B 9 $684,000 1 0 0 $0 30.8 $230,850 $71,000 50%
Pipeline Grill B1 9 $846,628 2 100 0 $0 76.2 $571,474 $11,657 50%
Fischer's Hardware B2 9 $210,500 2 8 0 $0 18.9 $142,088 $17,750 50%
Quality Waterfront Development C 8 $1,532,500 2 0 0 $0 122.6 $919,500 $133,125 50%
Main Street Improvements D 7 $648,500 3 0 0 $0 68.1 $510,694 $62,125 50%
Bank Building Remodel D1 7 $35,500 3 8 0.1 $0 3.7 $27,956 $8,875 50%
Micro-Brewery (Purchase)D2 7 $105,500 2 12 0.1 $0 7.4 $55,388 $8,875 50%
Battleground Saloon D3 5 $64,730 2 15 0.075 $0 3.2 $24,274 $8,875 50%
New Retail/Restaurant Dev.
(Lower) - Rob Johnson/Dollar Tree E 6 $826,000 1 0 0 $0 24.8 $185,850 $106,500 50%
Retail or Restaurant Re-Development/
Blight Removal/EHG (Lower)F 6 $121,000 1 0 0 $0 3.6 $27,225 $3,550 50%
El Toro F1 6 $542,000 2 12 0 $0 32.5 $243,900 $35,500 50%
Industry - NEW Development
(Higher) - INEOS Unit #1 - $250 Million G 5 $11,182,500 4 24 0.125 $4,579,500 660.3 $4,952,250 $2,662,500 10%
INEOS Unit #2 - $500 Million G1 5 $22,365,000 4 60 0.125 $9,159,000 1320.6 $9,904,500 $2,662,500 10%
Project Regulate G2 5 $1,136,000 3 40 0.125 $0 85.2 $639,000 $56,800 10%
La Porte Development Corporation Project Scorecard -- PRIORITIES
ACT Turbo (New Industry)G3 5 $426,000 3 73 0.13 $0 32.0 $239,625 $21,300 10%
NEW Office/HQ - InterGulf Corporation H 4 $142,000 4 30 0.15 $0 11.4 $85,200 $7,100 10%
NEW Office/Regional - Richard Industrial Group I 4 $10,650 4 75 0.15 $0 0.9 $6,390 $1,775 10%
Industry - NEW Development
(Lower) - Sector 23 (Original)J 3 $568,000 4 35 0.1 $0 34.1 $255,600 $28,400 10%
Sector 23 (Latest)J1 3 $1,278,000 4 72 0.1 $0 76.7 $575,100 $28,400 10%
Industry - RETENTION/EXPANSION
(Higher) - ACT Turbo (Expansion)K 3 $426,000 3 73 0.13 $0 19.2 $143,775 $21,300 10%
Industry - RETENTION/EXPANSION
(Lower)L 2 $710,000 3 15 0.075 $0 21.3 $159,750 $35,500 10%
Airport Re-Development M 1 $177,500 2 30 0.1 $0 1.8 $13,313 $8,875 10%
State Farm (Frank Nance)N 1 $21,655 1 3 0.1 $0 4.0 $30,000 $650 10%
Revak Building O 8 $534,000 3 18 0.1 $0 64.1 $480,600 $8,875 10%
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. The values 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/or people 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 higher paying,white collar, 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
to unskilled 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:
x Retail projects are five times (5x) more attractive to the community than industrial projects. For reference, please see page #6 of La Porte’s enclosed Tax Abatement Policy.
x Each “project type” is not equal to every other project type. Therefore, each project type’s priority value is included in the formula.
x The 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 revenue that 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 un der “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 Analysi s”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.
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 green text represent projects that have either already been awarded an incentive grant, or staff has good estimates for the project s.All other projects are completely "hypothetical".
A. Hypothetical -$20 million retail/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 million project 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 million with $5 million in annual retail sales.
D. Hypothetical -$3.5 million with $2 million in 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 -$2 million investment with 30 white collar, higher paying, full time jobs.
I. Richard Industrial 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 investment and 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/investment with 30 skilled, full time jobs.
N. State Farm -June 2022, $130,000 expansion. 2 New Full time jobs.
O.Revak Building -Summer 2022, $4,000,000. 18 New full time jobs.
REQUEST FOR LA PORTE DEVELOPMENT CORPORATION BOARD
AGENDA ITEM
Agenda Date Requested: June 27, 2002
Requested By: Matt Daeumer, Asst. City Mgr.
Department: Administration/CMO
Report Resolution Ordinance
Exhibits: Power Point
SUMMARY & RECOMMENDATIONS
After the May 23, 2022 meeting two board members asked to have a discussion on
strategic goals and plans of this body. It is also based on some of the recent training
material that has been provided to the Board. This is in an effort to focus our economic
development strategy where the board feels is important.
ACTION REQUIRED BY LPDC BOARD
Presentation, discussion, and possible action to provide direction to Staff on strategic
goals and plans of the La Porte Development Corporation for promotion of future
economic development in the City of La Porte.
Approved for the La Porte Development Corporation Board meeting agenda
Corby D. Alexander, City Manager Date
Appropriation
Source of Funds: N/A
Account Number: N/A
Amount Budgeted: N/A
Amount Requested: N/A
Budgeted Item: Yes No
ECONOMIC DEVELOPMENT STRATEGY
CURRENT ENVIRONMENT
Reviewing Applications for the open Economic Development
Coordinator
No recent clear vision or direction from the Board
Priorities from 2018 Comprehensive Plan Update:
2 tie –Strategic Downtown Improvements
4 tie –Business Retention and Expansion Program
4 tie –Business Incubator
Update for 2022 Comprehensive Plan has begun
STRATEGIC DOWNTOWN IMPROVEMENTS
Prepare a master plan for the Downtown area, including Main Street and
Sylvan Beach, the connections between, and the transition to adjacent
areas. This includes:
setting a clear and collectively supported vision;
determination of implementation framework to guide
new/reinvestment; and,
coordinating with previous work completed on marketing and
branding.
BUSINESS RETENTION AND EXPANSION PROGRAM
Examine coordinating with previous work completed on marketing and
branding, setting a clear and collectively supported vision;
Determine, through surveys or interviews, how the City can best
support existing businesses
Establish an action plan to address identified needs and challenges
Continue to support local event programming and marketing
PROGRAM PURPOSE
La Porte needs an Economic Development Vision
La Porte First: Retain existing business and industry
La Porte Easy: Remove barriers to conducting business with the City
La Porte Recruits: Make the City an attractive place for business
Focus efforts on what the Board and the City feel are important
IDEAS FROM ECONOMIC DEVELOPMENT 101
List of top 10 companies
Concierge Model
Planning/Permitting Software
Technical Scholarships –workforce development
Compare prices and tack on fees with other cities
Tax Increment Financing (TIF) for low income
New Market Tax Credits –Bring in business that we currently don’t have
Public Transportation –expand routes
DISCUSSION