HomeMy WebLinkAbout08-27-14 LPRDA/TIRZAgendas and Agenda Materials
Meetings of the Boards of Directors
La Porte Redevelopment Authority
La Porte Tax Increment
Reinvestment Zone
August 27, 2014
• NOTICE OF MEETING OF LA PORTE REDEVELOPMENT AUTHORITY
Notice is hereby given of the meeting of the La Porte Redevelopment Authority to be held Wednesday,
August 27, 2014 at 6:30 p.m. in the Council Chambers of City Hall, 604 West Fairmont Parkway, La
Porte, Texas, for the purpose of considering the following agenda items:
1. Call to order;
2. Consider approval of the minutes of Board of Directors meeting held on July 23, 2014;
3. Consider proposed FY 2015 budget;
4. Consider proposal from McCall Gibson Swedlund & Barfoot PLLC to conduct annual audit;
5. Consider approval or other action with regard to authority invoices;
6. Receive updates from the city, developers and staff with regard to development within the Zone;
7. Board member comments;
a. Matters appearing on agenda;
b. Inquiry of staff regarding specific factual information or existing policy
Us8. Adjournment.
In compliance with the American Disabilities Act, the City of La Porte City will provide for reasonable
accommodations for persons attending public meetings. To better serve attendees, requests should be
received 24 hours prior to the meetings. Please contact Patrice Fogarty, City Secretary, at
281-410-5019 or TDD 281-471-5030.
A possible quorum of city council members may be present at this meeting and participate in discussions but
will take no action.
David W. Hawes
Executive Director
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LA PORTE REDEVELOPMENT AUTHORITY,
CITY OF LA PORTE, TEXAS
AGENDA MEMORANDUM
TO: La Porte Redevelopment Authority Board of Directors
FROM: Executive Director
SUBJECT: Agenda Item Materials
2. Consider approval of minutes of the Board of Directors meeting held July 23, 2014.
LA PORTE REDEVELOPMENT AUTHomTy
c/o Hawes Hill Calderon LLP
P.O. Box 22167
Houston TX 77227-2167
713-595-1200 or FAX 281-888-6314
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• MINUTES OF THE MEETING OF THE
' LA PORTE REDEVELOPMENT AUTHORITY
CITY OF LA PORTE, TEXAS
BOARD OF DIRECTORS
July 23, 2014
' CALL TO ORDER.
The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas,
' held a regular meeting, open to the public, on Wednesday, July 23, 2014, at 6:30 p.m., in the
Council Chambers of City Hall, 604 West Fairmont Parkway, La Porte, Texas, and the roll was
called of the duly appointed members of the Board, to -wit:
Peggy Antone, Secretary Position 1
Dave Turnquist Position 2
Alton Porter Position 3
Horace Leopard Position 4
Doug Martin, Vice Chair Position 5
JJ Meza Position 6
' Lloyd Graham Position 7
Chester Pool Position 8
Lindsay Pfeiffer, Chair Position 9
• and all of the above were present with the exception of Directors Graham, Pool and Pfeiffer, thus
constituting a quorum. Also present were David Hawes and Linda Clayton, both of Hawes Hill
' Calderon, LLP, and Scott Livingston, La Porte EDC Director. Others attending the meeting were
Kenneth Schick, Senior Associates, Inc.; and Ryan Lovell, Port Crossing Land LP. Vice -
Chairman Martin called the meeting to order at 6:33 p.m.
CONSIDER APPROVAL OF THE MINUTES OF BOARD OF DIRECTORS MEETING HELD ON
JUNE 11, 2014.
' Upon a motion duly made by Director Turnquist, and being seconded by Director Leopard,
the Board voted to approve the Minutes of the June 1, 2014, Board meeting, as presented.
Director Porter abstained.
CONSIDER DEVELOPMENT AGREEMENT WITH SPENCER ROAD VENTURE (SENIOR
ASSOCIATES, INC.).
' Mr. Hawes reported after the parties and their respective attorneys had reviewed the
agreement, revisions had been made to the Agreement provided in the Board agenda materials.
' Mr. Hawes handed out a redline version of the proposed new Agreement, a copy is attached as
Exhibit A. Mr. Hawes introduced Mr. Kenneth Schick representing Senior Associates, Inc. to
explain the purpose of the Agreement. Mr. Hawes went through the changes in the Agreement
and answered questions. Upon a motion duly made by Director Porter, and being seconded by
Director Turnquist, the Board. voted unanimously to approve the revised Agreement with Senior
Associates, Inc., as presented.
CONSIDER TIRZ INCREMENT DISBURSEMENT REPORT AND AUTHORIZE PAYMENT TO •
DEVELOPERS.
Mr. Hawes presented the Disbursement Report and answered questions. He reported the
Report was based on 2013 tax revenues. He recommended payment to two developers (1)
Retreat at Bay Forest in the amount of $50,000.00; and (2) Port Crossing Land LP in the amount
of $1,075,874.56. Upon a motion duly made by Director Leopard, and being seconded by Director
Meza, the Board voted unanimously to accept the Disbursement Report and approved payment
to the developers, as presented.
CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO AUTHORITY INVOICES.
Mr. Hawes went over the invoices, included in the Board agenda materials. Upon a motion
duly made by Director Antone, and being seconded by Director Porter, the Board voted
unanimously to approve payment of invoices, as presented.
RECEIVE UPDATES FROM THE CITY, DEVELOPERS AND STAFF WITH REGARD TO
DEVELOPMENT WITHIN THE ZONE.
Mr. Hawes provided preliminary roll information. Mr. Livingston reported a prospective
buyer had contacted him with regard to buying 12.5 acres in the TIRZ for developing for industrial
use. No action from the Board was required.
BOARD MEMBER COMMENTS.
a. Matters appearing on agenda;
b. Inquiry of staff regarding specific factual information or existing policy.
There were no comments. '
ADJOURNMENT. '
There being no further business to come before the Board, Vice -Chairman Martin
adjourned the meeting at 7:04 p.m.
Secretary
List of Exhibits:
Exhibit A - Redline version showing changes to Reimbursement Agreement among
Reinvestment Zone Number One, City of La Porte, Texas, and La Porte Redevelopment Authority
and Senior Associates, Inc. ,
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LA PORTE REDEVELOPMENT AUTHORrrY,
CITY OF LA PORTE, TEXAS
AGENDA MEMORANDUM
TO: La Porte Redevelopment Authority Board of Directors
FROM: Executive Director
SUBJECT: Agenda Item Materials
3. Consider the proposed FY 2015 budget.
LA PORTS REDEVELOPMENT AUTHORrrV
c/o Hawes Hill Calderon LLP
P.O. Box 22167
Houston TX 77227-2167
713-595-1200 or FAX 281-888-6314
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La Porte Redevelopment Authority
Tax Increment Reinvestment Zone Number One
City of La Porte
FY 2014 -15 Approved Budget
Revenues:
Beginning Fund Balance
Estimated TIRZ Revenues
City
County
LPISD
Interest on City TIRZ Funds
Estimated TIRZ Developer Advances
Lakes of Fairmont Greens
Beazer Homes - Expansion Area
Port Crossing
Total Revenues
TIRZ M&O Expenses:
Administration and Project Management
•TIRZ Expansion Costs
Legal
Agreed Upon Procedures Reports
' Annual Audit
Operating Expenses
Bank Expenses
Total Expenses
Transfers
City Administration
Educational Facilities
ITotal Transfers
Capital Improvements
City CIP Trunk Line Project
Sylvan Beach Restoration Project
Beazer Homes Capital Improvements
TIRZ Developer Reimbursements
Lakes of Fairmont Greens
Retreat at Bay Forest
Port Crossing
• Ending Fund Balance
2013-14
2014-15
Approved
2013-14
Approved
Budget
Estimated
Budget
$ 1,123, 953
$ 920,048
$
655,143
$1,627,762
$ 607,294
$
619,439
$ 295,350
$
301,257
$ 1,253,630
$
1,278,703
$ 520
$ 647
$
650
$ 977,167
$ 488,584
$
488,584
$ 3,729,402
$ 3,565,552
$
3,343,777
$
31,500
$
30,000
$
31,500
$
10,000
$
10,000
$
-
$
5,000
$
5,090
$
3,000
$
2,500
$
6,000
$
3,000
$
7,000
$
6,750
$
6,750
$
450
$
498
$
500
$
65
$
97
$
100
$
56,515
$
58,435
$
44,850
$
55,185
$
53,512
$
54,850
$
329,593
$
458,003
$
469,453
$
384,778
$
511,516
$
524,303
$ 130,500 $ 130,500 $ 250,000
$ 130,500 $ 130,500 $ 250,000
$ 977,167 $ 488,584 $ 488,584
$ 232,500
$ 70,620 $ 50,000 $ 50,000
$ 1,100,000 $1,308,375 $1,200,000
$ 2,408,787 $ 2,340,459 $ 2,238,584
$ 879,322 $ 655,143 $ 536,039
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LA PORTE REDEVELOPMENT AUTHORITY,
CITY OF LA PORTE, TEXAS
AGENDA MEMORANDUM
TO: La Porte Redevelopment Authority Board of Directors
FROM: Executive Director
SUBJECT: Agenda Item Materials
4. Consider a proposal from McCall Gibson Swedlund & Barfoot PLLC to conduct the annual
audit.
LA PORTE REDEVELOPMENT AUTHORITY
c/o Hawes Hill Calderon LLP
P.O. Box22167
Houston TX 77227 2167
713-595-1200 or FAX 281-888-6314
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McCALL GIBSON SWEDLUND BARFOOT PLLC
Certified Public Accountants
'
13100 Wortham Center Drive
Suite 235
111 Congress Avenue
Houston, Texas 77065-5610
Suite 400
'
(713) 462-0341
Austin, Texaass 78701
Fax (713) 462-2708
(512) 610-2209
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E-Mail: m sb@n: s llc.com
g--g �
zuzuzv.mgsb42llc.con:
August 27, 2014
' Board of Directors
La Porte Redevelopment Authority
City of LaPorte, Texas
We are pleased to confirm our understanding of the services we are to provide La Porte Redevelopment
Authority (the "Authority") for the year ended September 30, 2014. We will audit the financial
' statements of the governmental activities and each major fund, which collectively comprise the basic
financial statements of the Authority as of and for the year ended September 30, 2014. Accounting
standards generally accepted in the United States of America provide for certain required supplementary
information (RSI), such as management's discussion and analysis (MD&A) and the schedule of revenues,
' expenditures and changes in fund balance — budget and actual for the General Fund, to supplement the
Authority's basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board (GASB) who considers it to be
• an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. As part of our engagement, we will apply certain limited
procedures to the Authority's RSI in accordance with auditing standards generally accepted in the United
States of America. These limited procedures will consist of inquiries of management regarding the
methods of preparing the information and comparing the information for consistency with management's
responses to our inquiries, the basic financial statements, and other knowledge we obtained during our
audit of the basic financial statements. We will not express an opinion or provide any assurance on the
information because the limited procedures do not provide us with sufficient evidence to express an
opinion or .provide any assurance. The following RSI is required by generally accepted accounting
principles and will be subjected to certain limited procedures, but will not be audited:
1) Management's Discussion and Analysis, and
2) Schedule of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual —
' General Fund
We have also been engaged to report on supplementary information other than RSI that accompanies the
' Authority's financial statements. The document we submit to you will include various supplementary
schedules. This supplementary information will be subjected to the auditing procedures applied in our
audit of the financial statements and certain additional procedures, including comparing and reconciling
' such information directly to the underlying accounting and other records used to prepare the financial
statements or to the financial statements themselves, and other additional procedures in accordance with
auditing standards generally accepted in the United States of America and we will provide an opinion on
' it in relation to the financial statements as a whole except for that portion marked "unaudited", on which
we will express no opinion.
•
Member of
' American Institute of Certified Public Accountants
Texas Society of Certified Public Accountants
Board of Directors
La Porte Redevelopment Authority
Audit Objective
August 27, 2014
Page 2
The objective of our audit is the expression of opinions as to whether your basic financial statements are
fairly presented, in all material respects, in conformity with generally accepted accounting principles and
to report on the fairness of the supplementary information referred to in the second paragraph when
considered in relation to the financial statements as a whole. Our audit will be conducted in accordance
with auditing standards generally accepted in the United States of America and will include tests of the
accounting records and other procedures we consider necessary to enable us to express such opinions.
We will issue a written report upon completion of our audit of the Authority's financial statements. Our
report will be addressed to the Board of Directors. We cannot provide assurance that unmodified
opinions will be expressed. Circumstances may arise in which it is necessary for us to modify our
opinions or add emphasis -of -matter or other -matter paragraphs. If our opinions on the financial
statements are other than unmodified, we will discuss the reasons with you in advance. If, for any reason,
we are unable to complete the audit or are unable to form or have not formed opinions, we may decline to
express opinions or to issue a report as a result of this engagement.
Management Responsibilities
Management is responsible for the basic financial statements and all accompanying information as well as
all representations contained therein. You are also responsible for making all management decisions and
performing'all management functions; for overseeing our financial statement preparation services and any
other nonattest services we provide; and for evaluating the adequacy and results of those services and
accepting responsibility for them. Nonattest services to be provided include the preparation of the
financial statements, preparation of the appropriate capital asset schedules, if any, including calculation
of depreciation on the capital assets and preparation of the journal entries to convert the fund financial
statements to the government -wide financial statements as required by generally accepted accounting
principles.
Management is responsible for establishing and maintaining effective internal controls, including
monitoring ongoing activities: for the selection and application of accounting principles; and for the
preparation and fair presentation of the financial statements in conformity with U.S. generally accepted
accounting principles.
Management is responsible for making all financial records and related information available to us and
for the accuracy and completeness of that information. You are also responsible for providing us with (1)
access to all information of which you are aware that is relevant to the preparation and fair presentation of
the financial statements, (2) additional information that we may request for the purpose of the audit, and
(3) unrestricted access to persons within the government from whom we determine it necessary to obtain
audit evidence.
Your responsibilities include adjusting the financial statements to correct material misstatements and for
confirming to us in the written representation letter that the effects of any uncorrected misstatements
aggregated by us during the current engagement and pertaining to the latest period presented are
immaterial, both individually and in the aggregate, to the financial statements taken as a whole.
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Board of Directors August 27, 2014
• La Porte Redevelopment Authority Page 3
Management Responsibilities (Continued)
You are responsible for the design and implementation of programs and controls. to prevent and detect
fraud, and for informing us about all known or suspected fraud affecting the Authority involving (1)
management, (2) employees who have significant roles in internal control, and (3) others where the fraud
could have a material effect on the financial statements. Your responsibilities include informing us of
your knowledge of any allegations of fraud or suspected fraud affecting the Authority received in
communications from employees, former employees, consultants, regulators, the public or others.- In
addition, you are responsible for identifying and ensuring that the Authority complies with applicable
laws and regulations.
' You are responsible for the preparation of the supplementary information. You agree to include our
report on the supplementary information in any document that contains and indicates that we have
reported on the supplementary information. You also agree to include the audited financial statements
with any presentation of the supplementary information that includes our report thereon. Your
responsibilities include acknowledging to us in the representation letter that (1) you are responsible for
presentation of the supplementary information, (2) that you believe the supplementary information,
including its form and content, is fairly presented, (3) that the methods of measurement or presentation
have not changed from those used in the prior period, and (4) you have disclosed to us any significant
assumptions or interpretations underlying the measurement or presentation of the supplementary
information. ,
With regard to using the auditor's report, you understand that you must obtain our written consent to
reproduce or use. our report in bond offering official statements or other documents.
' With regard to the electronic dissemination of audited financial statements, including financial statements
published electronically on your website, you understand that electronic sites are a means to distribute
information and, therefore, we are not required to read the information contained in these sites or to
consider the consistency of other information in the electronic site with the original document.
' Audit Procedures - General
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; therefore, our audit will involve judgment about the number of transactions to be
examined and the areas to be tested. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of significant accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements. We will plan and perform the audit to
obtain reasonable rather than absolute assurance about whether the financial statements are free of
material misstatement, whether from (1) errors, (2) fraudulent financial reporting, (3) misappropriation of
I assets, or (4) violations of laws or governmental regulations that are attributable to the Authority or to acts
by management or employees acting on behalf of the Authority.
Board of Directors August 27, 2014
La Porte Redevelopment Authority Page 4
•
Audit Procedures — General (Continued)
Because of the inherent limitations of an audit, combined with the inherent limitations of internal control,
and because we will not perform a detailed examination of all transactions, there is a risk that material
misstatements may exist and not be detected by us, even though the audit is properly planned and
performed in accordance with U.S. generally accepted auditing standards. In addition, an audit is not
designed to detect immaterial misstatements, or violations of laws or governmental regulations that do not
have a direct and material effect on the financial statements. However, we will inform you of any
material errors and any fraudulent financial reporting or misappropriation of assets that come to our
attention. We will also inform you of any violations of laws or governmental regulations that come to our
attention, unless clearly inconsequential. Our responsibility as auditor is limited to the period covered by
our audit and does not extend to any later periods for which we are not engaged as auditors.
Our procedures will include tests of documentary evidence supporting the transactions recorded in the
accounts, and may include direct confirmation of certain assets and liabilities by correspondence with
selected individuals, creditors, and financial institutions. We will request written representations from
your attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the
conclusion of our audit, we will also require certain written representations from you about the financial
statements and related matters.
Audit Procedures — Internal Control
Our audit will include obtaining an understanding of the Authority and its environment, including internal i
control, sufficient to assess the risks of material misstatement of the financial statements and to design the
nature, timing, and extent of further audit procedures. An audit is not designed to provide assurance on
internal control or to identify deficiencies in internal control. However, during the audit, we will ,
communicate to management and those charged with governance internal control related matters that are
required to be communicated under AICPA professional standards.
Audit Procedures — Compliance
As part of obtaining reasonable assurance about whether the financial statements are free of material
misstatements, we will perform tests of the Authority's compliance with applicable laws and regulations
and the provisions of certain contracts and agreements. However, the objective of our audit will not be to
provide an opinion on overall compliance and we will not express such an opinion.
Engagement Administration, Fees and Other
In accordance with provisions of the Local Records Retention Schedule Section 2-1: Item 1025-01 e) we
agree to retain our audit work papers in our office for a period of three years after all questions arising
from the audit have been resolved. In order to allow for all questions arising from the audit to be resolved '
and to comply with Rule 501.76(f) of the Rules of Professional Conduct of the Texas State Board of
Public Accountancy the actual date will be the five-year anniversary of the audit report in question.
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Board of Directors August 27, 2014
La Porte Redevelopment Authority Page 5
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Engagement, Administration, Fees and Other (Continued)
We expect to present a draft of the audit report within 45 days of the availability of the Authority's
accounting records. Chris Swedlund is the engagement partner and is responsible for supervising the
engagement and signing the report or authorizing another individual to sign the report. Our fees for these
services will be at our standard hourly rates and include any other direct charges. Our standard hourly
rates vary according to the degree of responsibility involved and the experience level of the personnel
assigned to your audit. The following is an estimate of our fees for the audit included in this engagement
letter:
• Audit of the Authority financial statements for the year ended September 30, 2014, to range
between $6,750 and $7,750
If for any reason our services are terminated prior to issuance of a final report, our engagement will be
deemed to have been completed, even if we have not completed our report. The Authority will be
obligated to compensate us for our time expended and to reimburse us for all out-of-pocket costs through
the date of termination. The above fee is based on anticipated cooperation from your consultants and the
assumption that unexpected circumstances will not be encountered during the audit. If significant
additional time is necessary, we will discuss it with you and arrive at a new fee estimate before we incur
the additional costs.
You agree that any dispute regarding this engagement will, prior to resorting to litigation, be submitted to
mediation upon written request by either party. Both parties agree to try in good faith to settle the dispute
in mediation. The American Arbitration Association will administer any such mediation in accordance
with its Commercial Mediation Rules. The results of the mediation proceeding shall be binding only if
each of us agrees to be bound. We will share any costs of mediation proceedings equally.
We believe this letter accurately summarizes the significant terms of the engagement. If you have any
questions, please let us know. If you agree with the terms of the engagement as described in this letter,
please sign the enclosed copy and return it to us. We appreciate the confidence you have placed in us by
retaining this firm as your independent auditor in this matter.
Sincerely,
-?Vt Pc.� � c
McCall Gibson Swedlund Barfoot PLLC
Certified Public Accountants
This letter correctly sets forth the understanding of the La Porte Redevelopment Authority.
Signature Title
• Engagement Letter
Date
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McCALL GIBSON SWEDLUND BA.RFOOT PLLC
Certified Public Accountants
13100 Wortham Center Drive
Suite 235
Houston, Texas 77065-5610
(713) 462-0341
Fax (713)462-2708
E-Mail: WsbQmgsbpllc.com
August 27, 2014
Dear Board Member:
111 Congress Avenue
Suite 400
Austin, Texas 78701
(512) 610-2209
www.lngklIc.com
We will soon begin the audit field work for the audits of La Porte Redevelopment Authority
for the fiscal year ending September 30, 2014. Auditing standards state that an auditor
conducting an audit in accordance with auditing standards generally accepted in the United States
of America (GAAS) is responsible for obtaining reasonable assurance that the financial
statements as a whole are free from material misstatement, whether caused by fraud or error.
Due to the inherent limitations of an audit, an unavoidable risk exists that some material
misstatements of the financial statements may not be detected, even though the audit is properly
planned and performed in accordance with GAAS.
The primary responsibility for the prevention and detection of fraud rests with both those charged
with governance of the entity and management. It is important that management, with the
oversight of those charged with governance, places a strong emphasis on fraud prevention, which
may reduce opportunities for fraud to take place, and fraud deterrence, which could persuade
individuals not to commit fraud because of the likelihood of detection and punishment. This
involves a commitment to creating -a culture of honesty and ethical behavior, which can be
reinforced by active oversight by those charged with governance.
The distribution of this questionnaire to you will be documented in our planning process of this
audit. Please answer the following questions with a yes or no answer. We are not requiring
that your responses be returned to us, however, should your answer to any of the questions
warrant a call to the auditor, please contact our offices at the number referred to above.
Your response should include matters that existed up to the fiscal year end and through the date
of the auditor's report. Your call and the information provided will be kept confidential.
Sincerely,
L�; JVJ*j
Chris Swedlund
CS:jg
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Member of
American Institute of Certified Public Accountants
Texas Society of Certified Public Accountants
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Board Member August 27, 2014
' La Porte Redevelopment Authority Page 2
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' Do you understand that there are risks of fraud within t ' y w n he Authority's Records,
' as there are within the records of any organization?
From your position as a Director of the Authority are you aware of any fraud or
' suspected fraud affecting the Authority? (if yes, call the auditor)
From your position as a Director of the Authority are you aware of any
allegations of fraud or suspected fraud affecting the Authority from sources
outside of the Authority's Management? (if yes, call the auditor)
To your knowledge, has the Authority's Management including consultants
expressed an understanding of the risk of fraud in the Authority, including any
specific fraud risks the entity has identified or account balances or classes of
' transactions for which a risk of fraud may be likely to exist?
To your knowledge, has the Authority's Management including consultants
' taken steps to mitigate the fraud risk or otherwise helped to prevent, deter, and
detect fraud? (if no, call the auditor)
lie To your knowledge, is the Authority in compliance with the laws and
regulations to which it is subject? (if no, call the auditor)
Do you from time to time communicate to the other Directors of the Authority
and respective consultants of the Authority the importance of ethical behavior
and the importance of following appropriate business practices? If no, would
you agree that it is important for the Authority to follow ethical behavior in its
business practices? (if no to the second question, please call the auditor)
' Directorsletters
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LA PORTS REDEVELOPMENT AUTHORITY,
CITY OF LA PORTE, TEXAS
AGENDA MEMORANDUM
TO: La Porte Redevelopment Authority Board of Directors
FROM: Executive Director
SUBJECT: Agenda Item Materials
5. Consider approval or other action regarding Authority invoices.
LA PORTE REDEVELOPMENT AUTHORITY
c10 Hawes Hill Calderon LLP
P.O. Box 22167
Houston.TX 77227-2167
713-595-1200 or FAX 281-888-6314
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AUGUST 2014 REVENUE/EXPENSE SUMMARY - OPERATING ACCOUNT
Beginning Fund Balance, 71112014 $ 2,081,563.25
7/30/2014 Interest deposit interest $ 78.41
Checks outstanding
7/23/2014 #160 Port Crossing Land LP
7/23/2014 #162 City of La Porte
Checks paid
7/1/2014 #156 Port Land Crossing LP
7/23/2014 #161 Retreat at Bay Forest
7/23/2014 #163 Hawes Hill Calderon LLP
Checks submitted for approval
8/27/2014 #164 Hawes Hill Calderon LLP
$ 2,081,641.66
AUP - reimbursement $ 1,075,874.56
TIRZ admin fee $ 53,511.96
$ (1,129,386.52)
construction reimbursement $ 232,500.00
AUP - reimbursement $ 50,000.00
inv 43014745 $ 3,611.61
$ (286,111.61)
inv 43014749
$ 3,915.71
$ (3,915.
Cleared
Bank
La Porte Redevelopment Authority
Cash Flow Report, FY 2009-2014
Account
For
Amount Subtotal
Beginning fund balance, 30/1/2009
$
265,520.84
10/15/2009
City of La Porte
county TIRZ payment
$
196,067.00
10/30/2009
Interest deposit (0.30%)
interest
$
91.25
11/30/2009
Interest deposit (0.10%)
interest
$
73.20
12/31/2009
Interest deposit (0.15%)
interest
$
36.70
1/29/2010
Interest deposit (0.10%)
interest
$
28.41
2/26/2010
Interest deposit (0.10%)
interest
$
22.06
3/31/2010
Interest deposit (0.10%)
interest
$
25.13
4/30/2010
Interest deposit (0.20%)
interest
$
42.59
5/31/2010
Interest deposit (0.20%)
interest
$
42.60
6/10/2010
Harris County tax collections
county TIRZ payment
$
257,543.00
6/22/2010
City of La Porte tax collections
city TIRZ payment
$
582,670.33
6/22/2010
LPISD tax collections
ISD TIRZ payment
$
512,646.62
6/30/2010
Interest deposit (0.20%)
interest
$
122.57
7/31/2010
Interest deposit (0.20%)
interest
$
130.46
8/31/2010
Interest deposit (0.20%)
interest
$
102.74
9/30/2010
Interest deposit (0.20%)
interest
$
95.55
10/20/2010
City of La Porte
prior year increment adjustment
$
189,261.05
10/29/2010
Interest deposit (0.20%)
interest
$
51.37
11/30/2010
Interest deposit (0.10%)
interest
$
67.56
12/31/2010
Interest deposit (0.10%)
interest
$
65.46
1/31/2011
Interest deposit (0.10%)
interest
$
65.46
2/28/2011
Interest deposit (0.10%)
interest
$
59.13
3/31/2011
Interest deposit (0.10%)
interest
$
65.47
4/29/2011
Interest deposit (0.10%)
interest
$
61,21
5/31/2011
Interest deposit (0,10%)
interest
$
66,05
6/16/2011
Wire xfer City of La Porte
city TIRZ payment
$
717,580.58
6/16/2011
Wire xfer City of La Porte
city TIRZ payment
$
591,594.44
Total
Ilillilll� IIIIIIIII� IIIIIIIII� liiill� � a! � � � IIIIIIIII� illill� r Illllllllw r illiillll� � IIIIIIIIIN IIIIIIIII� IIIIIIIII�
•
6/30/2011
Interest deposit (0.10%)
7/25/2011
Wire xfer City of La Porte
7/29/2011
Interest deposit (0.10%)
8/31/2011
Interest deposit (0.05%)
9/30/2011
Interest deposit (0.05%)
10/31/2011
Interest deposit (0.05%)
11/30/2011
Interest deposit (0.05%)
12/31/2011
Interest deposit (0.05%)
1/31/2012
Interest deposit (0.05%)
2/29/2012
Interest deposit (0.05%)
3/30/2012
Interest deposit (0.05%)
4/30/2012
Interest deposit (0.05%)
5/24/2012
Wire xfer City of La Porte
5/24/2012
Wire xfer City of La Porte
5/31/2012
Interest deposit (0.05%)
6/25/2012
Wire xfer City of La Porte
6/29/2012
Interest deposit (0.05%)
7/31/2012
Interest deposit
8/31/2012
Interest deposit
9/28/2012
Interest deposit
10/31/2012
Interest deposit
11/30/2012
Interest deposit
12/31/2012
Interest deposit
1/31/2013
Interest deposit
2/28/2013
Interest deposit
3/29/2013
Interest deposit
4/30/2013
Interest deposit
5/20/2013
Wire xfr City of La Porte
5/20/2013
Wire xfr City of La Porte
5/31/2013
Interest deposit
6/24/2013
Wire xfr City of La Porte
interest
county TIRZ payment
interest
interest
interest
Interest
interest
interest
interest
interest
interest
interest
city TIRZ payment
city TIRZ payment
interest
county TIRZ payment
interest
interest
interest
interest
interest
interest
interest
interest
Interest
interest
interest
city TIRZ payment
taxes co
interest
Harris County
$ 115.72
$ 171,528.00
$ 166.23
$ 139.39
$ 41.88
$ 6.98
$ 41.88
$ 41.88
$ 44.67
$ 40.04
$ 41.32
$ 42.46
$ 591,728.53
$ 483,366.12
$ 54.15
$ 215,582.00
$ 83.82
$ 100.32
$ 92.56
$ 45.36
$ 53.24
$ 48.37
$ 49.99
$ 49.99
$ 38.04
$ 34.32
$ 31.78
$ 461,057.04
$ 557,872.33
$ 46.47
$ 203,468.00
•
6/28/2013
Interest deposit
Interest
$
67.32
7/31/2013
Interest deposit
Interest
$
84.30
8/26/2013
Beazer Homes deposit
annexation
$
25,000.00
8/30/2013
Interest deposit
Interest
$
37.96
9/30/2013
Interest deposit
interest
$
39.64
10/31/2013
Interest deposit
interest
$
39.29
11/29/2013
Interest deposit
interest
$
36.75
12/31/2013
Interest deposit
interest
$
40.56
1/31/2014
Interest deposit
interest(0.05%)
$
39.26
2/28/2014
Interest deposit
interest
$
34.88
3/31/2014
Interest deposit
interest
$
37.87
4/30/2014
Interest deposit
interest
$
36.65
5/31/2014
Interest deposit
interest
$
36.65
6/4/2014
Wire xfr City of La Porte
Harris County 2013
$
295,350.00
6/16/2014
Wire xfr City of La Porte
2013 tax
$
607,293.55
6/16/2014
Wire xfr City of La Porte
Taxes co
$
795,626.84
6/30/2014
Interest deposit
Interest
$
68.76
7/31/2014
Interest deposit
interest
$
78.41
Total, Revenues
$ 7,724,200 40
Cleared
Bank
Expenses
Checks paid:
11/23/2009
#117 Port Crossing LP
developer reimbursement
$
165,769.15
11/19/2009
#118 Hawes Hill Calderon LLP
Inv3385, 3400, 3422
$
7,937.24
2/25/2010
#120 Hawes Hill Calderon LLP
Inv3514, 3466, 3515
$
7,552.62
3/31/2010
#119 Patillo Brown & Hill LLP
interim billing, audit
$
3,000.00
6/30/2010
#121 VOID CHECK
error in account posting
$
-
7/8/2010
#122 Pattillo, Brown & Hill LLP
audit final Invoice
$
150.00
7/1/2010
#123 Hawes Hill Calderon LLP
Inv 3523,3585,3586, 3614
$
10,072.29
7/7/2010
#124 Port Crossing
developer reimbursement
$
1,033,512.91
8/5/2010
#125 City of La Porte
meeting expenses
$
266.67
8/27/2010
#126 Hawes Hill Calderon LLP
Inv3642, 3666
$
5,640,07
4/27/2011
#127 Hawes Hill Calderon LLP
Inv3766-3874
$
1.7,686.39
8/22/20111
#128 Port Crossing Land LP
developer reimbursement
$
1,205,754.00
8/18/2011
#129 Hawes Hill Calderon LLP
Inv 3936, 3937, 3938, 3954
$
9,763.04
2/6/2012
#130 Hawes Hill Calderon LLP
Inv4064
$
13,685.83
$ 7,724,200 40`''
�r rr rr rr r r rt rr r�
4/9/2012
#131 McCall Gibson Swedlund Barfoot PLLC
Interim billing - audit
$
4,000.00
4/9/2012
#132 Hawes Hill Calderon LLP
Inv4105 •
$
3,926.83
8/23/2012
#133 Hawes Hill Calderon LLP
Inv 4139,4170,4214,426
$
9,835.85
8/29/2012
#134 Port Crossing Land LP
developer reimbursement
$
1,095,875.46
9/26/2012
#135 McCall Gibson Swedlund Barfoot PLLC
2011 audit, final bill
$
2,400.00
9/27/2012
#136 Hawes Hill Calderon LLP
Inv4241
$
3,550.70
2/22/2013
#137 McCall Gibson Swedlund Barfoot PLLC
2012 audit interim bill
$
4,500.00
2/8/2013
#138 Hawes Hill Calderon LLP
inv43014333
$
11,537.90
2/12/2013
#139 Harris County Treasurer
InvAH002859
$
166,594.19
2/13/2013
#140 City of La Porte
trunkline project
$
130,500.00
4/4/2013
#141 City of La Porte
TIRZ admin fee 2013
$
160,767.62
3/28/2013
#142 Hawes Hill Calderon LLP
Inv.43014375
$
3,606.75
7/24/2013
#143 City of La Porte
TIRZ admin fee
$
53,577.57
7/29/2013
#144 Hawes Hill Calderon LLP
Inv 4446, 4447, 4448, 4470
$
9,771.19
7/30/2013
#145 Port Crossing Land LP
developer reimbursement
$
934,355.68
8/27/2013
#146 McCall Gibson Swedlund Barfoot, PLLC
2012 EOY audit -- final
$
2,500.00
8/22/2013
#147 Hawes Hill Calderon LLP
Inv 43014490 and 43914485
$
11,064.00
9/23/2013
#148 Hawes Hill Calderon LLP
Inv4514,4517
$
11,126.68
1/22/2014
#149 Hawes Hill Calderon LLP
Inv 4539,4604,4605,4606
$
10,140.03
2/24/2014
#150 McCall Gibson Swedlund Barfoot, PLLC
audit, AUP
$
9,750.00
2/21/2014
#151 Hawes Hill Calderon LLP
Inv 43014626, 43014630
$
13,636.00
6/18/2014
#152 Andrews Kurth
Inv 10642473
$
2,545.00
6/19/2014
#153 McCall Gibson Swedlund Barfoot PLLC
AUP
$
3,000.00
6/13/2014
#154 Hawes Hill Calderon LLP
Inv 4694, 4695, 4718, 4719
$
9,610.08
6/16/2014
#155 Malladi S. Reddy
construction advw/int
$
232,500.00
6/18/2014
#157 Harris County
Sylvan Beach project
$
130,500.00
6/11/2014
#158 VOID
void
$
-
6/23/2014
#159 City of La Porte
trunkline project
$
130,500.00
7/1/2014
#156 Port Crossing Land LP
construction adv w/int
$
232,500.00
7/31/2014
#161 Retreat at Bay Forest
AUP- reimbursement
$
500000.00
7/24/2014
#163 Hawes Hill Calderon LLP
Inv43014745
$
3,611.61
Total, Checks'pavd
$ > 5,928573 :35
Bank fees:
6/18/2010 Wire transfer service fee
$ 8.00
6/22/2010 Wire transfer service fee
$ 8.00
(5,928,573'
6/22/2010
Wire transfer
service fee
$
8.00
10/20/2010
Wire transfer
service fee'
$
8.00
6/16/2011
Wire transfer
service fee
$
10.00
6/16/2011
Wire transfer
service fee
$
10.00
7/25/2011
Wire transfer
service fee
$
10.00
10/24/2013
VOID Audit Fee
service fee
$
35.00
Tdtai.86nkf.186
97(
Checks outstanding
7/23/2014 #160 Port Crossing Crossing Land LP AUP - reimbursement $ 1,075,874.56
7/23/2014 #162 City of La Porte TIRZ admin fee $ 53,511.96
If2 .1.2
Checks outstanding. ing�
Checks submitted for approval
8/27/2014 #164 Hawes Hill Calderon LLP Inv43014778 3,915.71
ks, submitted
3j915 71!
otahthec su mittle':
Total ex
.972;58)
ens 7,,061
� I
Hawes Hill Calderon LLP
'P.O. Box 22167
Houston TX 77227-2167
•
� I
Bill To:
TIRZ -La Porte # 1
604 W. Fairmont Pkwy.
LaPorte, TX 77571
Invoice #: 43014778
Date: 8/19/2014
Page: 1
Invoice
DATE
DESCRIPTION
AMOUNT
Project Management Services, August 2014
$2,000.00
GIS Mapping, P. Horton
$188.06
8/27/2014
Board of Directors Meeting
$1,500.00
Reinbursable expenses as follows:
Mileage, D. Hawes per attachment
$42.56
In house copies & Binders 1114 @ .15 each & 15 Sets @ $1.00 each
$182.10
In house postage
$2.99
Sales Tax:
$0.00
Total Amount:
$3,915.71
Amount Applied:
$0.00
Balance Due:
$3,915.71
Terms: C.O.D.
TIRZ - NO. 1, LA PORTE
HAWES HILL CALDERON LLP
PATRICK HORTON (GIS/MAPPING)
EXPENSE DETAIL (TIRZ - NO. 1. LA PORTFI
DATE
7/23/2014
CLIENT
D. Hawes
DESCRIPTION
Map of Zone showing Annex plus Specific Develop-
LABOR
0.500
COPIES
3
RESRCE. COST
0.16
SIZE (SF)
ITEM TOTAL
$0.48
7/23/2014
D. Hawes
ments
Summary of AV by Specific Developments and
0.750
1
0.08
$0.08
remainder of Zone
TOTAL
1.250
4.000
5.25
0.00 1
$0.56
rXaLe. �P IUU1111 '? 101.UU
P&L 1 $188.06
I certify that the above is true and correct to the best of my knowledge.
Patrick L. Horton Date
EXPENSE DETAIL (La Porte TIFPo1I
DATE
CLIENT NO.
VENDOR/DESCRIPTION
QTY
U PRICE
TOT REIM.
BILL
7/23/2014
CLPTIF01
Mileage to/from Mt . w/Board
76
$ 0.560
$ 42.56
Y
CLPTIF01
$ 0.560
$ -
Y
CLPTIF01
$ 0.560
$ -
Y
CLPTIF01
$ 0.560
$
Y
CLPTIF01
$ 0.560
$ -
Y
I I V I HL 40 41.0)Fi I
•
NOTICE OF MEETING OF
LA PORTE TAX INCREMENT REINVESTMENT ZONE
Notice is hereby given of the meeting of the La Porte Tax Increment Reinvestment Zone to be held
Wednesday, August 27, 2014 at .6:30 p.m. in the Council Chambers of City Hall, 604 West Fairmont
Parkway, La Porte, Texas, for the purpose of considering the following agenda items:
1. Call to order;
2. Consider approval of the minutes of Board of Directors meeting held on July 23, 2014; .
3. Consent agenda — any item may be removed by. a board member for discussion
• Entertain motion and a second to approve the TIRZ items in the same form and manner as was approved
in the previous Redevelopment Authority meeting - Lindsey Pfeiffer, Chairperson
a. Consider proposed FY 2015 budget;
b. , Consider proposal from McCall Gibson Swedlund & Barfoot PLLC to conduct annual audit;
c. Consider approval or other action with regard to authority invoices;
d. Receive updates from the city, developers and staff with regard to development within the Zone;
e. Board member comments with regard to matters appearing on agenda and inquiry of staff regarding
specific factual information or existing policy;
f. Adjournment.
compliance with the American Disabilities Act, .the City of La Porte City will provide for reasonable
accommodations for persons attending public meetings. To better serve attendees, requests should be
'received 24 hours prior to the meetings. Please contact Patrice Fogarty, City secretary, at 281-470-5019
or TDD 281-471-5030.
IA possible quorum of city council members may be present at this meeting and participate in discussions but
will take no action.
David W. Hawes
'
Executive Director
1
MINUTES OF THE MEETING OF THE
' LA PORTE TAX INCREMENT REINVESTMENT ZONE
CITY OF LA PORTE, TEXAS
BOARD OF DIRECTORS
' July 23, 2014
CALL TO ORDER.
' The Board of Directors of the La Porte Tax Increment Reinvestment Zone, City of La Porte,
Texas, held a regular meeting, open to the public, on Wednesday, July 23, 2014, at 6:30 p.m., in
' the Council Chambers of City Hall, 604 West Fairmont Parkway, La Porte, Texas, and the roll
was called of the duly appointed members of the Board, to -wit:
' Peggy Antone, Secretary Position 1
Dave Turnquist Position 2
Alton Porter Position 3
Horace Leopard
Position 4
Doug Martin, Vice Chair
Position 5
JJ Meza
Position 6
'
Lloyd Graham
Chester Pool
Position 7
Position 8
Lindsay Pfeiffer, Chair
Position 9
10
1
1
1
and all of the above were present with the exception of Directors Graham, Pool and Pfeiffer, thus
constituting a quorum. Also present were David Hawes and Linda Clayton, both of Hawes Hill
Calderon, LLP, and Scott Livingston, La Porte EDC Director. Others attending the meeting were
Kenneth Schick, Senior Associates, Inc.; and Ryan Lovell, Port Crossing Land LP. Vice -
Chairman Martin called the meeting to order at 7:05 p.m.
CONSIDER APPROVAL OF THE MINUTES OF THE BOARD OF DIRECTORS MEETING
HELD ON JUNE 11, 2014.
Upon a motion duly made by Director Antone, and being seconded by Director Turnquist,
the Board voted to approve the Minutes of the June 11, 2014, Board meeting as presented.
Director Porter abstained.
CONSENT AGENDA — ANY ITEM MAY BE REMOVED BY A BOARD MEMBER FOR
DISCUSSION
• ENTERTAIN MOTION AND A SECOND TO APPROVE THE TIRZ ITEMS IN THE SAME
FORM AND MANNER AS WAS APPROVED IN THE PREVIOUS REDEVELOPMENT
AUTHORITY MEETING.
a. Consider Development Agreement with Spencer Road Venture (Senior Associates,
Inc.);
b. Consider TIRZ Increment Disbursement Report and authorize payment to
developers;
c. Consider approval or other action with regard to authority invoices;
d. Receive updates from the city, developers and staff with regard to development
within the Zone;
e. Board member comments with regard to matters appearing on agenda and inquiry
of staff regarding specific factual information or existing policy;
f. Adjournment.
Upon a motion duly made by Director Porter, and being seconded by Director Leopard, the
Board voted unanimously to approve the TIRZ items in the same form and manner as was
approved at the previous Redevelopment_ Authority meeting.
ADJOURNMENT.
There being no further business to come before the Board, Vice -Chairman Martin
adjourned the meeting at 7:06 p.m.
Secretary