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Home My WebLink About6-26-23RICHARD 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 26, 2023, at the City Hall Council Chamber, 604 West Fairmont Parkway, La Porte, Texas, beginning at 5:00 pm to consider the following items of business: Remote participation is available, also. Attend via a screen using this link: https://us02web.zoom.us/j/84695938493?pwd=RkVpem5QUzF6NTFCTzYrZGZEL2xVZz09. Join by phone at 888-475-4499 or 877-853-5257. The meeting ID is 846 9593 8493 and the passcode is 895925. 1.CALL TO ORDER 2.CITIZEN COMMENT (G enerally 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.AUTHORIZATIONS (a)Approve the minutes of the April 24, 2023, meeting of the La Porte Development Corporation Board of Directors. [Richard W arren, President] (b)Receive Annual Report from Economic Alliance Houston Port Region. [Matt Daeumer, Assistant City Manager] (c)Presentation, discussion, and possible action to approve the incentive payment with Frank Nance, owner of State Farm, located at 508 W Main Street in La Porte, Texas, in an amount not to exceed $15,000.00. [Matt Daeumer, Assistant City Manager] 4.SET NEXT MEETING 5.STAFF REPORTS (a)Update on Economic Development Manager. 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.EXECUTIVE SESSION The La Porte Development Corporation reserves the right to meet in executive session on any agenda item should the need arise and if authorized by the Texas Open Meetings Act, Title 5, Chapter 551, of the Texas Government Code. 8.Reconvene into open session and consider action, if any, on items discussed in executive session. 9.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 G overnment 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, C ity Secretary, do hereby certify that a copy of the June 26, 2023, La Porte Development Corporation B oard agenda was posted on the C ity Hall bulletin board, a place convenient and readily accessible to the general public at all tim es, and to the City's website, www.LaPorteT X.gov, in com pliance 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 April 24, 2023, 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 APRIL 24, 2023 The City of La Porte Development Corporation Board met on Monday, April 24, 2023, at the City Hall Council Chambers, 604 West Fairmont Parkway, La Porte, Texas, at 5:20 p.m., with the following in attendance: Board members present: Richard Warren, Nancy Ojeda, Chuck Engelken, John Blakemore, Brent McCaulley Board members attending remotely: None Board members absent: Danny Earp, Amanda Gerrish Council-appointed members present: Corby Alexander, City Manager; Lee Woodward, City Secretary; Clark Askins, Assistant City Attorney CALL TO ORDER – President Warren called the meeting to order at 5:26 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 February 27, 2023, meeting of the La Porte Development Corporation Board of Directors. [Richard Warren, President] Member Engelken moved to approve the minutes of the February 27, 2023, regular meeting of the La Porte Development Corporation Board of Directors; the motion was seconded by Member McCaulley; the motion was adopted, 5-0. 4. AUTHORIZATIONS a. Presentation, discussion, and possible action to approve a Mutual Recission and Release Agreement between the La Porte Development Corporation and R Favorite Things, LLC, for the purpose of terminating the Economic Development Incentive Agreement dated September 22, 20232, between the La Porte Development Corporation and R Favorite Things, LLC for development of the Revak Building located at 114 W. Main Street in La Porte, Texas. [Matt Daeumer, Assistant City Manager] Member Engelken moved to approve a Mutual Recission and Release Agreement between the La Porte Development Corporation and R Favorite Things, LLC, for the purpose of terminating the Economic Development Incentive Agreement dated September 22, 2022, between the La Porte Page 2 of 2 April 24, 2023, La Porte Development Corporation Board of Directors Minutes Development Corporation and R Favorite Things, LLC for development of the Revak Building located at 114 W. Main Street in La Porte, Texas; the motion was seconded by Member McCaulley; the motion was adopted, 5-0. b. Presentation, discussion, and possible action to approve a reimbursement payment in an amount not to exceed $25,000.00 to the applicant, Marion (Marty) Campise, under terms of the Economic Development Incentive Agreement dated October 10, 2022, for the enhancements for his business, Main Street Entertainment and Food Park, located at 402 W. Main Street in La Porte, Texas. [Matt Daeumer, Assistant City Manager] Member Engelken moved to approve a reimbursement payment in an amount not to exceed $25,000.00 to the applicant, Marion (Marty) Campise, under terms of the Economic Development Incentive Agreement dated October 10, 2022, for the enhancements for his business, Main Street Entertainment and Food Park, located at 402 W. Main Street in La Porte, Texas; the motion was seconded by Member Ojeda; the motion was adopted, 5-0. 5. SET DATE FOR NEXT MEETING May 22, 2023, was set as a tentative date for the next meeting of the Board. 6. STAFF REPORTS a. Update on open Economic Development Manager position. An update was provided by Assistant City Manager Daeumer. 7. 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. There were no comments. ADJOURN – The meeting was adjourned without objection at 5:33 p.m. ___________________________________ Lee Woodward, City Secretary REQUEST FOR LA PORTE DEVELOPMENT CORPORATION BOARD AGENDA ITEM Agenda Date Requested: June 26, 2023 Requested By: Matt Daeumer, Asst. City Manager Department: CMO Report Resolution Ordinance Exhibits: Economic Alliance Presentation SUMMARY As part of our agreement, the Economic Alliance Houston Port Region is to make an annual presentation to the Economic Development Corporation and City Council. Chad Burke with the Economic Alliance will present an update on their activities in the Port area and La Porte. RECOMMENDED MOTION No Action necessary Approved for the La Porte Development Corporation Board meeting agenda Corby D. Alexander, City Manager Date Appropriation Source of Funds: Account Number: Amount Budgeted: Amount Requested: Budgeted Item: Yes No Economic Alliance Houston Port Region La Porte Annual Report June 26, 2023 Presented By: Chad Burke President & CEO Economic Alliance Houston Port Region chad@allianceportregion.com 2 MISSION MARKET AND GROW A VIBRANT REGIONAL ECONOMY 3 FOOTPRINT ONE OF THE LARGEST, GROWTH ENGINES of economic opportunity of anywhere in the world –X’s 7! ECONOMIC DEVELOPMENT 5 6 ECONOMIC DEVELOPMENT PROVIDE PROFESSIONAL ASSISTANCE TO COMPANIES to navigate the multiple facets of the expansion process in the Houston Port region. ECONOMIC DEVELOPMENT LOCAL INVESTMENTS, WORLDWIDE IMPACTS -Securing business to invest capital and create jobs. 2022 PROJECT 750 $1.6B 100 TOTALS ECONOMIC DEVELOPMENT ANNOUNCEMENT-Securing business to invest capital and create jobs. JOBS CAP EX 60 $250M Tertiary Amine Production Plant - 5010 Underwood Former Sunoco site that sat vacant for over 10 years Basic ingredients in hair conditioners, dishwashing detergents, disinfectants and other household products PARTNER & ADVOCATE 9 Kuraray’s EVAL Plant on Bay Area Blvd needed to address the timing of CenterPoint proposed outages for equipment upgrades. Kuraray tried for several weeks to broker a meeting with CPE to discuss alternatives –no success EA elevated the conversation with contacts at CPE CPE adjusted outage/upgrade dates to synch with Kuraray’s scheduled turnaround saving the company in excess of $1.5M based on the facilitated dialogue Container Export Group - Convened 16 companies that produce, warehouse, or distribute polymers, resins and specialty chemical exports. All experiencing delays at Port Houston Surveyed the group for issue/congestion confirmation and development of solutions Findings/Solutions to be discussed with Port Houston Advisory Council of Executive Shippers (ACES) PROJECT PIPELINE – 2023 Industry Breakdown Early stages and evaluating multiple locations across the Houston Port region. Active Projects 23 Projects $6.1B Cap Ex 3,800 New Jobs 300 Retained Jobs 39% Petrochem 4% Logistics 44% Manufacturing 5% Alt Fuels 4% Corp Hdqtr 4% Real Estate Dev PORT HOUSTON ACTIVITY 11 12 #1 Busiest Exporting & Energy Port in the U.S. #1 Busiest Exporting & Energy Port in the U.S. PORT HOUSTON RECORDED ITS BEST YEAR YET IN 2022: Container volume was up 14% in ‘22). Just short of 4M TEUs at 3.9M Nearly double the volume posted six years earlier in 2016 and nearly 500k TEUs more than in 2021. PORT HOUSTON RECORD GROWTH PUBLIC POLICY Container Commodities: Imports Percent of TEU Total (’21) Container Commodities: Exports Percent of TEU Total (‘21) PORT HOUSTON CONTAINER COMMODITIES – EXPORTS & IMPORTS 61% are Consumables 60% Resins & Chemicals Country Percent of Total Import TEUs based on 2021 Data 0% 5% 10% 15% 20% 25% 30% 35% 40% China (PRC) India Brazil Vietnam Germany Republic Of Korea Italy Belgium Spain Turkey Others 29.99 Source:Journal of Commerce/PIERS data Notes: Totals are estimated, not exact. See details below. / 16 PUBLIC POLICY 17 PUBLIC POLICY 18 ECONOMIC ALLIANCE LEADERSHIP TEAM –Deliver Federal Policy White Paper in D.C. March 2023 DC Trip 45 Members Attended 40 Meetings across 2 Days PUBLIC POLICY ECONOMIC ALLIANCE LEADERSHIP TEAM –Deliver State Policy White Paper in Austin in 2023 Economic Alliance supports the funding and completion of transportation projects impacting the movement of product and people through the state’s most vital economic corridor. •Beltway 8 Ship Channel Bridge and State Highway 225 – Funding and completion of all 8 direct connectors. •Engineer, fund and complete a direct connector from State Highway 225 to Barbour’s Cut Blvd. •Fund the San Jacinto River Bridge replacement, Cedar Bayou Crossing, and Garth Road improvements. •Grand Parkway/99 – Southeast Section; segments A, B and C. TRANSPORATION/ INFRASTRUCTURE 20 21 ECONOMIC ALLIANCE CONVENES local/state elected officials, Port Houston, petrochemical association partners and private sector members to DELIVER TXDOT A PRIORITIZED PROJECT LIST TRANSPORTATION/INFRASTRUCTURE TRANSPORTATION/INFRASTRUCTURE PRIORITY PROJECTS I-10 East Expansion/San Jacinto River Bridge SH 225 - 610 PEL Study Expansion SH 146 Expansion & Widening/Fairmont to Red Bluff Beltway 8 Bridge and Hwy 225 Direct Connectors TRANSPORTATION/INFRASTRUCTURE PRIORITY PROJECTS WORKFORCE DEVELOPMENT 24 WORKFORCE DEVELOPMENT DIRECTLY MARKET CAREER PATHS and JOB OPPORTUNITIES to address attrition, skill enhancement, and demand TO POTENTIAL JOB CANDIDATES. Leverage partnerships with EHCMA and 9 community colleges to recruit and train a qualified workforce Filling a key role with industry partners in identifying and prioritizing the high-demand, high-paying careers WORKFORCE DEVELOPMENT PREPARING THE NEXT GENERATION WORKFORCE -To close the skilled worker gap and connect economic opportunities in the Houston Port region. WORKFORCE DEVELOPMENT ACTIVITIES ‘22 QUALITY OF LIFE 27 28 QUALITY OF LIFE ECONOMIC ALLIANCE AND SAN JACINTO TEXAS HISTORIC DISTRICT PROVIDE MATCHING FUNDS for Q of L projects. INSIGHTS/THOUGHT LEADERSHIP 29 INSIGHTS/THOUGHT LEADERSHIP VITAL POINT FOR KNOWLEDGE SHARING & THOUGHT LEADERSHIP - Topics and issues relevant to industry along the Gulf Coast. KNOWLEDGE SHARING VEHICLES GULF COAST INDUSTRY FORUM ECONOMIC ALLIANCE’S LARGEST EVENT of the year bringing industry, government, and community stakeholders. Leverages the resources, experience, and network of the Houston Port region associated with Petrochemical, Maritime, and Logistics industries on the gulf coast. Thank You! www.allianceportregion.com 32 REQUEST FOR LA PORTE DEVELOPMENT CORPORATION BOARD AGENDA ITEM Agenda Date Requested: June 26, 2023 Requested By: Matt Daeumer, Asst. City Mgr. Department: Administration/CMO Report Resolution Ordinance Exhibits: Incentive Agreement, proof of payment, pictures SUMMARY & RECOMMENDATIONS On May 23, 2022, staff brought the La Porte Development Corporation Board a project in downtown La Porte. The applicant, Frank Nance, purchased the building at 508 W. Main St, which currently house his State Farm Insurance Agency. There was a need to significantly remodel and expand the structure in order to grow his business. The initial estimates put the applicant’s investment at $200,000. Staff ran the project through the EDC matrix, which indicated that this project would be eligible for a $30,000 incentive. On May 23, 2022, the La Porte Development Corporation Board discussed the project and approved to move forward with an incentive package for this project in an amount not to exceed of $30,000. As required by state law, a sixty (60) day public comment period needed to occur. The public “Notice of Proposed Project” was advertised in the Bay Area Observer on June 2, 2022 . On August 22, 2022, the La Porte Development Corporation approved the incentive agreement for 508 W. Main Street. Staff was provided documents and has validated $214,806.80 in expenses related to this project and substantial completion of the project, which meets the required 1st benchmark threshold. There is one additional benchmark to be passed in the future, which Staff will bring forward to the Board in February of 2024, as stated in the agreement. Mr. Nance made his payments in a combination of checks and financing. He submitted canceled checks and the financing confirmation to show payment. • Draw #1: o Check #1011 ▪ Amount: $13,442 • Draw #2: o Check #1015 ▪ Amount: $33,000 • Draw #3: o Check #1016 Appropriation Source of Funds: 038 – EDC Fund Account Number: 038-6030-565-9997 Amount Budgeted: $387,347.00 Amount Requested: $15,000.00 Budgeted Item: Yes No ▪ Amount: $5,000 o Check #1017 ▪ Amount: $4,575 • Draw #4: o Financed ▪ Amount: $52,635 • Draw #5: o Financed ▪ Amount: $20,541 • Draw #6: o Financed ▪ Amount: $49,448 • Draw #7: o Check #2013 ▪ Amount: $7,051.64 o Check #1019 ▪ Amount: $2.36 o Financed ▪ $21,376 • Additional Payments o Check #1060 ▪ Amount: $5,760.75 ▪ Payment made in addition to the financing. o Check #1018 ▪ Amount: $1,975 ▪ Payment made in addition to the financing. The applicant, Frank Nance, has passed his first benchmark for proof of a capital investment of at least $130,000.00 and proof of substantial completion of renovation of the building. ACTION REQUIRED BY LPDC BOARD Presentation, discussion, and possible action to approve the incentive payment with Frank Nance, owner of State Farm, located at 508 W Main Street in La Porte, Texas in an amount not to exceed $15,000.00. Approved for the La Porte Development Corporation Board meeting agenda Corby D. Alexander, City Manager Date ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE LA PORTE DEVELOPMENT COPRPORATION AND FRANK NANCE, FOR USE OF TYPE B DEVELOPMENT CORPORATION SALES TAX FUNDS THIS AGREEMENT made by and entered into this 22nd day of August 2022 between the La Porte Development Corporation, a Type B non-profit corporation operating under authority of Texas Local Government Code Chapters 501 and 505, hereinafter referred to as "LPDC", and Frank Nance, hereinafter referred to as "Recipient". WITNESSETH: WHEREAS, the voters of the City of La Porte authorized the levying of additional sales tax within the City for promotion of economic development and the LPDC is authorized to use such tax revenues for certain qualifying projects and other economic development related purposes; and WHEREAS, Recipient is an individual who owns the land and existing building situated thereon, located at 508 West Main Street, La Porte, Texas, and at which site Recipient operates a business as an independent agent for State Farm Insurance Company; and WHEREAS, Recipient wishes to renovate the exterior and interior of the existing building located at 508 West Main Street, and make associated infrastructure, site and related improvements, for the purpose of operating commercial office space and which would 1) result in the expenditure by Recipient of an estimated $130,000.00 in capital improvements; and 2) employ an estimated four (4) full time personnel; and WHEREAS, Recipient has requested that LPDC provide financial incentives to Recipient to contribute towards the cost of renovation of the property at 508 West Main Street under a qualifying project of the LPDC for infrastructure, site and related improvements that promote or develop new or expanded business enterprises, as authorized by Texas Local Government Code Chapters 501 and 505, and it is the desire of LPDC to assist in the funding of same, finding that such expenditures will promote or develop new or expanded business enterprises. WHEREAS, Texas law and the by-laws of the LPDC require that certain expenditures and projects by the LPDC be approved by the governing body of the City; and whereas the LPDC Board has duly approved such project and the expenditures for same have been authorized by the La Porte City Council; and df NOW THEREFORE, in consideration of the covenants and conditions stated herein, and in consideration of the mutual benefits that will accrue to each of the parties hereof, as well as to the citizens of the City of La Porte, Texas, the parties have agreed and do hereby agree as follows: 2 ARTICLE I In consideration of Recipient renovating the existing structure at 508 West Main Street and operating commercial office space at the subject site (“Building” herein), which proposal was considered in that certain public hearing authorizing a proposed project for the expenditure of LPDC funds for the promotion or development of new or expanded business enterprises, held before the LPDC on August 22, 2022, LPDC agrees to provide Recipient an incentive package consisting of a cash payment in a total sum not to exceed $30,000.00, to be distributed in two increments of $15,000.00 and $15,000.00 each, with each distribution conditioned on the attainment of certain performance thresholds, more specifically outlined as follows: 1) A cash incentive payment in an amount equal to $15,000.00 will be distributed to Recipient by LPDC, upon a) receipt by LPDC of proof of substantial completion of renovation of the Building and, and b) proof of minimum capital investment in the amount of $130,000.00 applied towards renovation of the Building and related infrastructure and site work. However, in no case will the $15,000.00 payment be made by LPDC if documentation substantiating 1) substantial completion of the renovation of the Building and 2) the expenditure of no less than $130,000.00 applied towards capital improvements to the Building and related infrastructure and site improvements is not delivered to and received by LPDC by July 31, 2023. In the case that proof of substantial completion of renovation of the Building and minimum capital investment of $130,000.00 applied towards capital improvements to the Building related infrastructure and site improvements is presented to LPDC on or before said July 31, 2023 deadline, the LPDC shall convene a meeting of the LPDC Board of Directors for a date no later than forty-five (45) days after receipt of proof of substantial completion of the renovation of the Building and minimum capital investment of $130,000.00 by LPDC from Recipient. Upon verification of the substantial completion of the Building and minimum capital investment of $130,000.00, as reflected by formal vote of the LPDC Board of Directors that Recipient has satisfied the requirements of this paragraph, LPDC will then remit the $15,000.00 to Recipient within a period not to exceed thirty (30) days. In the case where Recipient fails to submit proof of substantial completion of renovation of the Building and proof of a minimum capital investment in the amount of $130,000.00 by the July 31, 2023 deadline, despite therefore being disqualified for the first $15,000.00 incentive payment, Recipient will remain eligible to qualify for receipt of the second $15,000.00 incentive payment under Paragraph 2 below, in so far as the conditions precedent of permanent employment of four (4) positions required in such paragraph is met. However, in such case Recipient will remain responsible to submit proof of substantial completion of renovation of the Building and minimum capital investment in the amount of$130,000.00 in order to qualify for the second incentive payment outlined in Paragraph 2 below. 2) A cash incentive payment in an amount equal to $15,000.00 will be distributed to Recipient by LPDC upon delivery to the LPDC of a) an employment roster evidencing that Recipient employs a minimum of four (4) full time employees at the Building site as of January 31, 2024. However, in no case will the $15,000.00 payment be made by LPDC if proof of the employment of a minimum of four (4) full time personnel at the Building site as of January 31, 2024 is not delivered to and received by LPDC by August 30, 2024. Proof of employment, for purposes of this agreement, may be satisfied by submission to LPDC by the said August 30, 2024 deadline of a) copies of Recipient's 941 Report to the Internal Revenue Service and C3 Report to the Texas Workforce Commission for each employee (but with social security numbers of each employee redacted) and b) a notarized statement executed by Recipient affirming that four (4) full time employees are employed in positions permanently located at the Building site. In the case that proof of employment of four (4)full-time personnel is presented to LPDC on or before said August 30, 2024 deadline, the LPDC shall convene a meeting of the LPDC Board of Directors for a date no later than forty-five (45) days after receipt of proof of employment by lessees at the Building site by Recipient. Upon verification of employment as reflected by formal vote of the LPDC Board of Directors, LPDC will then remit the $15,000.00 to Recipient within a period not to exceed thirty (30) days. In the event that Recipient qualifies for the $15,000.00 incentive installment based upon proof of employment of four (4) full-time positions located at the Building site pursuant to Article 1, Paragraph 2, above, then in such case Recipient shall be required to prove the continuous employment at the Building site of a minimum of four (4) full-time positions, for a continuous five (5) year period. At the conclusion of each calendar year during such five (5) year period, beginning on December 31, 2024, through and including December 31, 2028, Recipient shall be required to submit to the LPDC proof of employment of a minimum of four(4)full-time positions at the Building site, in the manner required under Article 1, Paragraph 2, above. Should Recipient fail to provide proof of the employment of four (4) full-time employees at the end of a calendar year, then for that year Recipient shall be responsible for remitting to the LPDC the sum of$6,000.00, representing recapture out of the previously awarded $30,000.00 incentive paid under this Agreement. However, in the instance that Recipient provides proof of employment of a minimum of four(4)full-time positions at the end of a calendar year, Recipient shall be relieved from the obligation to remit to the LPDC $6,000.00 recapture for that year. If Recipient fails to qualify for the $15,000 incentive installment provided for in Article I, Paragraph 1 but qualifies for payment of the $15,000.00 payment under 3 terms of this Agreement, including 1) LPDC funds spent by Recipient in contravention of this Agreement and 2) any LPDC funds previously paid to Recipient but not yet spent by Recipient. In each such case, the previously paid cash payment or payments shall be remitted to the LPDC within sixty (60) of receipt of written demand for same. Any breach of this covenant shall be grounds for immediate termination of the distribution of funds. ARTICLE VI The term of this Agreement is for a period beginning on the date of approval by LPDC and ending July 1, 2029. ARTICLE VII All funds provided by the LPDC pursuant to this Agreement may be used only for the purposes authorized by this Agreement. Notwithstanding Article I, above, City shall be under no obligation to make any fund disbursements if the reports required under this Agreement have not been delivered to the LPDC. ARTICLE Vlll This Agreement does not create any joint venture, partnership, or agency relationship between the LPDC and Recipient. Recipient shall have exclusive control of, and the exclusive right to control the details of the work to be performed by Recipient hereunder and all personnel performing same, and shall be solely responsible for the acts and omissions of its officers, members, agents, servants, employees, subcontractors, program participants, volunteers, licensees, and invitees. In no event shall any person participating in or performing any of Recipient's duties or responsibilities hereunder be considered an officer, agent, servant, or employee of the LPDC. ARTICLE IX Recipient agrees to assume and does hereby assume all responsibility and liability for damages sustained by persons or property, whether real or asserted, by or from the carrying on of work by Recipient or in the performance of services performed and to be performed by Recipient hereunder. Recipient covenants and agrees to, and does hereby indemnify, defend, and hold harmless LPDC and all their respective officers, agents, and employees from all suits, actions, claims, and expenses of any character, including attorney's fees, brought for or incurred on account of any injuries or damages, whether real or asserted, sustained by any person or property by or in consequence of any intentional or negligent act, omission, or conduct of Recipient, its agents, servants or employees. ARTICLE X This Agreement may be amended by the mutual agreement of the Parties hereto in writing to be attached to and incorporated into this Agreement. 5 its understanding and agreement that if it is convicted of a violation of 8 U.S.C. Section 1324a(f), providing for civil and/or criminal penalties for engaging in a pattern or practice of knowingly hiring or continuing to employ unauthorized aliens, it shall repay the amount of the public subsidy with interest, at the rate and according to the terms of the agreement signed under Section 2264.053 of the Government Code, not later than the 120th day after the date the city notifies the business of the violation. ARTICLE XIX The Agreement embodies the complete agreement of the parties hereto, superseding all oral or written pervious and contemporary agreements between the Parties, which relate to matters in this Agreement. SIGNED AND AGREED to by LPDC and Recipient on the dates indicated below. LA PORTE DEVELOPMENT CORPORTION Richard Warren, President 2. Date C11Y ATTEST OP'S .•••••......,,,. • � l S cr tary oft '.a •.' �° Frank Nance ��4�Uiy'•••••••••••S_� S -/ - : Z Date ATTEST 7 Frank Nance Aspendora Contractos,LLC RECAP ORIGINAL CONTRACT SUM 214,240.00 OWNERS EQUITY TO DATE 62,496.00 NET CHANGE BY CHANGE ORDER 0.00 CONTRACT SUM TO DATE 151,744.00 TOTAL COMPLETED&STORED TO DATE 206,496.00 TOTAL EARNED 206,496.00 LESS PREVIOUS PAYMENT 108,652.00 CURRENT PAYMENT DUE 97,844.00 BALANCE TO FINISH+RETAINAGE 7,744.00 Item Description of Work Scheduled OWNERS Owners Owners Draw Draw Draw Draw Work No. Frank Nance Value EQUITY Equity Equity #4 #5 #6 #7 Completed State Farm Buiilding Expansion #1 #2 #3 first bk draw Final Draw and Paid Balance 508 W Main St $ 53,000.00 to Date to Draw LaPorte,TX 77571 01/12/23 02/14/23 02/20/23 03/07/23 03/29/23 04/19/23 05/12/23 1 Dirtwork for Slab&Tree Removal $5,700 $ 5,700.00 $ - $ - $ - $ - $ - $ - $ 5,700.00 $ - 2 Dirtwork for Paving and Swell in Alley $2,200 $ 1,800.00 $ - $ 400.00 $ - $ - $ - $ 2,200.00 $ - 3 Landscape and Finish Grading dirt work $2,200 $ - $ - $ - $ - $ 1,900.00 $ 175.00 $ 2,075.00 $ 125.00 4 Concrete-Foundation&Slab $13,000 $ 13,000.00 $ - $ - $ - $ - $ - $ 13,000.00 $ - 5 Concrete Paving and Curbs $9,000 $ 9,000.00 $ - $ - $ - $ - $ - $ 9,000.00 $ - 6 Framing,Siding and Roofing-Labor&Material $36,783 $ - $ 6,860.00 $26,173.00 $ 750.00 $ 1,918.00 $ 1,082.00 $ 36,783.00 $ - 7 Roof Work $370 $ - $ - $ 370.00 $ - $ - $ - $ 370.00 $ - 8 Cost to Cut opening into existing building $1,200 $ - $ - $ - $ - $ 1,200.00 $ - $ 1,200.00 $ - 9 Gutters and Downspouts $3,000 $ - $ - $ - $ - $ 2,500.00 $ - $ 2,500.00 $ 500.00 10 Disappearing Stair and Labor to install $700 $ - $ - $ - $ - $ 788.00 $ - $ 788.00 $ (88.00) 11 Insulation-all $4,216 $ - $ - $ - $ 4,216.00 $ - $ - $ 4,216.00 $ - 12 Drywall $9,200 $ - $ - $ - $ 8,000.00 $ 1,200.00 $ - $ 9,200.00 $ - Cabinets,Upper&Lower&Top $5,000 $ 2,721.00 $ 496.00 $ 3,217.00 $ 1,783.00 13 Suspended Ceiling $0 $ - $ - $ - $ - $ - $ - $ - $ - 14 Paint $8,030 $ - $ - $ - $ 3,680.00 $ 2,151.00 $ 2,199.00 $ 8,030.00 $ - 15 Doors&Door Hardware $9,602 $ - $ 1,683.00 $ - $ - $ 986.00 $ 6,933.00 $ 9,602.00 $ - 16 Garage Door $3,485 $ 1,742.00 $ - $ - $ - $ - $ 1,893.00 $ - $ 3,635.00 $ (150.00) Glass $3,000 $ 2,585.00 $ 2,585.00 $ 415.00 17 Flooring $14,975 $ - $ - $ - $ - $ 6,344.00 $ 2,895.00 $ 9,239.00 $ 5,736.00 18 Bathroom accessories $400 $ - $ - $ - $ - $ - $ 400.00 $ 400.00 $ - 19 Plumbing $9,250 $ 3,000.00 $ - $ 3,392.00 $ 850.00 $ 302.00 $ 1,345.00 $ 8,889.00 $ 361.00 20 HVAC $8,600 $ - $ - $ 6,450.00 $ - $ 2,150.00 $ - $ 8,600.00 $ - 21 Electrical $23,250 $ - $ - $10,000.00 $ - $ 11,951.00 $ 3,440.00 $ 25,391.00 $ (2,141.00) 22 Temp Utilities,Mics Material,Labor&clean up $7,080 $ 200.00 $ - $ 350.00 $ 845.00 $ 1,359.00 $ 3,122.00 $ 5,876.00 $ 1,204.00 Project Management and Supervision $ 20,000 $ 5,000.00 $ 4,000.00 $ 400.00 $ 2,000.00 $ 1,000.00 $ 4,200.00 $ 3,400.00 $ 20,000.00 $ - General Conditions,workmans comp&gen liab. $ 14,000 $ 1,000.00 $ 2,000.00 $ 632.00 $ 3,500.00 $ 1,200.00 $ 3,300.00 $ 2,368.00 $ 14,000.00 $ - Roundin $ 1.00 Total $ 214,240.00 $ 13,442.00 $33,000.00 $ 9,575.00 $52,635.00 $20,541.00 $ 49,448.00 $ 27,855.00 $ 206,496.00 $ 7,745.00 Borrows equity(amount paid by Frank) $ 13,442.00 $33,000.00 $ 9,575.00 $ - $ 6,479.00 $ 62,496.00 AMOUNT OF DRAW(advanced off line) $ - $ - $ - $52,635.00 $20,541.00 $ 49,448.00 $ 21,376.00 $ 144,000.00 paid by owner paid by owner paid by owner Load Transaction History Page 1 of I Loan Transaction History Search Criteria Titling FRANK S.NANCE Account Commercial Line Branch Pasadena From Amount $0.00 To Amount $0.00 From Date To Date Search Results Effective Posted Date Amount Principal Interest Resulting Balance Description Date 05/22/2023 05/22/2023 $21,376.00 $299,116.85 BALANCE ADVANCE 05/12/2023 05/12/2023 $2,315.90 $978.84 $ 1,337.06 $277,740.85 REGULAR PAYMENT 04/19/2023 04/19/2023 $49,448.00 $278,719.69 BALANCE ADVANCE 04/11/2023 04/11/2023 $2,315.90 $ 1,190.04 $ 1,125.86 $229,271.69 REGULAR PAYMENT 03/29/2023 03/29/2023 $20,541.00 $230,461.73 BALANCE ADVANCE 03/08/2023 03/08/2023 $52,635.00 $209,920.73 BALANCE ADVANCE 03/06/2023 03/06/2023 $2,315.90 $ 1,53638 $779.52 $ 157,285.73 REGULAR PAYMENT 02/09/2O23 02/09/2023 $930.81 $6731 $ 863.50 $ 158,822.11 REGULAR PAYMENT 01/17/2O23 01/30/2023 $931.15 $6731 $ 863.84 $ 158,889.42 REGULAR PAYMENT 12/15/2O22 12/15/2O22 $90638 $6731 $ 839.07 $ 158,956.73 REGULAR PAYMENT 11/21/2O22 11/21/2O22 $908.65 $908.65 $ 159,024.04 REGULAR PAYMENT 11/18/2O22 11/18/2O22 $ 869.38 $6731 $ 802.07 $ 159,932.69 REGULAR PAYMENT 11/14/2O22 11/14/2O22 $908.65 $908.65 $ 160,000.00 REGULAR PAYMENT 10/30/2O22 10/30/2O22 $42.07 $ 160000.00 FEE ASSESSMENT LATE CHARGE 10/07/2O22 10/07/2022 $ 504.79 $ 504.79 $ 160,000.00 REGULAR PAYMENT 08/15/2O22 10/06/2O22 $20.50 $0.00 FEE PAYMENTFLOOD 08/15/2O22 10/06/2O22 $200.00 $0.00 FEE PAYMENT COMM PROCESS 08/15/2O22 10/06/2022 $3,200.00 $0.00 FEE PAYMENT APPRAISAL 08/15/2O22 10/06/2022 $3,040.00 $0.00 FEE PAYMENT POINTS 08/17/2O22 10/06/2022 $ 160,000.00 $ 160,000.00 BALANCE ADVANCE 09/30/2O22 10/06/2022 $2514 $ 160,000.00 SSES FEEA SMENT LATE CHARGE 08/15/2O22 08/15/2O22 $304,000.00 $0.00 CR LINE FUNDING https://salesservice.tmk.local/modules/accoudt/profile/Content/hadsaction history print 1oad.htm 6/5/2023 X Transaction Details CHECK -$13,442.00 b From: Posted: '. 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Utah La Porte, TX 77571 Cell (281)932-3128 Email: bryan@aspendora.contractors May 10 , 2023 State Farm Insurance 508 West Main Street La Porte, TX 77571 INVOICE Code Consultants for ADA and Energy Final Inspection $575.00 Sincerely, Bryan Moore 8 X Transaction Details CHECK -$5,760.75 b From: Posted: Business Inspire Checking _$2,674.61 01/20/2023 frl Check #: 1060 l Hide Images " i .gam 1060 FRANK NANCE STATE FARM ` if SOIFORTF NST [ __ 1l PAYnMORDEROf \� 5 , ofla- Lor�}rradcw _� $ s 7(oo �5 �+� \ Swe .'h44A7 74A DOLLARS W m 6- AMEGY BANK LIKE A GOOD NEIGHBOR I P.Q. BOX 2T9x0 TO HOU$rp$TONS T]P2f-7459 Ii AMEGYBANKCOM-]i9-T4569t0 1 Q y i-'-. 1.../� x 1060 <. Previous 112 Next > Nickname CHECK Memo Memo r,y Q DISPUTE TRANSACTION SAVE x Transaction Details CHECK -$1 ,975.00 a From: Pasted: Business Inspire Checking $2,674.61 04/06/2023 Check#: 1018 Z� Hide Images " 1018 FRANK NANCE STATE FARM , , � LAFOR E,TX 7 'li '1 TAP0RTFw T% 77571 $ 1 PTHEOROHROF JAS"I�tT '( Agy-s } q 1 ! v I one �lnaaa T�fne�ly� Sty l nt r+en4 a I AMEGY BANK 6RCEAGOODNEIGHBOR _ P.O. BOX 274W HOUSTON,TE%A9 712274458 i0 is Previous 1/2 Next > Nickname CHECK Memo Memo O DISPUTE TRANSACTION SAVE r - r I1lI Hr ;, L ri 1 F E 1 k; L f 1 r i i r' 111' r' 3w r1 . �r x 1 a a y� .t+s.t Hl -e- . 1 -. __ ___