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07-29-15 LPRDA/TIRZ
' 1 Agendas and Agenda Materials 1 . Meetings of the Boards of Directors i La forte 1 Redevelopment Authority 1 1 1 La Porte Tax Increment 1 Reinvestment Zone 1 1 1 1 July 29, 2015 1 I ' 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, July 29, 2015 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 January 21,2015; 3. Consider Estoppel Certificate and Consent to Assignment to and for the benefit of Liberty Property ' Limited Partnership, a Pennsylvania limited partnership (Purchaser), and Land Services Title of Texas, as Agent for Fidelity National Title Insurance Company; 4. Consider Second Amendment to Development Agreement by and between Tax Increment Reinvestment Zone Number One, City of La Porte, Texas, La Porte Redevelopment Authority, a Texas non-profit corporation, and Liberty Property Limited Partnership, a Pennsylvania limited ' partnership; 5. Consider Agreed Upon Procedures Proposal from McCall Gibson Swedlund Barfoot PLLC; 6. Considerro osal from McCall Gibson Swedlund B p p arfoot PLLC for FY 2015 Audit Services; ' 7. Consider Tax Year 2014 Developer Increment Disbursements; 8. Approve FY2015-2016 Budget. ' 9. Consider approval or other action with regard to authority invoices; ' 10. Receive updates from the city, developers and staff with regard to development within the Zone; 11.Board member comments; ' a. Matters appearing on agenda; b. Inquiry of staff regarding specific factual information or existing policy 12.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 ' 281-470-5019 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. tDavid W. Hawes Executive Director L - 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 January 21,2015. ! ! ! ' LA PORTE REDEVELOPmm AUTHORITY do Hawes Hill Calder6n LLP P.O.Box 22167 Houston TX 77227-2167 713-595-1200 or FAX 281-888-6314 ' MINUTES OF THE MEETING OF THE LA PORTE REDEVELOPMENT AUTHORITY ' CITY OF LA PORTE,TEXAS BOARD OF DIRECTORS January 21,2015 DETERMINE QUORUM; 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, January 21; 2015, 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 Meza and Graham, thus constituting a quorum. Also present were David Hawes, Hawes Hill Calderon, LLP; Scott Livingston, La Porte EDC Director; Virginia Blake, McCall Gibson Swedlund Barfoot PLLC; and Steven Robinson, Port Crossing. ' Chairman Pfeiffer called the meeting to order at 6:30 p.m. CONSIDER APPROVAL OF THE MINUTES OF BOARD OF DIRECTORS MEETING HELD ON DECEMBER 10,2014. ' Upon a motion duly made by Director Martin, and being seconded by Director Turnquist,the Board voted to approve the Minutes of the December 10, 2014, Board meeting, as presented. Directors Porter, Turnquist and Pfeiffer abstained. APPROVE REPORT APPLYING AGREED-UPON PROCEDURES TO CONSTRUCTION, ENGINEERING AND RELATED COSTS REIMBURSABLE TO LA PORTE CROSSING, LP. Mr. Hawes reviewed the Report Applying Agreed-Upon Procedures to Construction, Engineering and Related Costs Reimbursable to La Porte Crossing, LP, included in the Board agenda materials, and t answered questions. Upon a motion duly made by Director Porter, and being seconded by Director Pool, the Board voted unanimously to approve the Report with a total amount payable to Port Crossing Land, LP in the amount of$67,714.42. ' APPROVE FISCAL YEAR 2014 ANNUAL FINANCIAL REPORT. Ms. Blake presented the annual financial report, included in the Board agenda materials, and ' answered questions. Upon a motion duly made by Director Pool, and being seconded by Director Turnquist, the Board voted unanimously to approve the Fiscal Year 2014 Annual Financial Report, as presented. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO AUTHORITY INVOICES. , Mr. Hawes presented the January, 2015, Revenue Expense Summary and went over the invoices, included in the Board agenda materials. Upon a motion duly made by Director Antone,and being seconded by Director Martin, 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. There was general discussion regarding updates with regard to developments within the zone. No action from the Board was required. , BOARD MEMBER COMMENTS: a. Matters appearing on agenda. b. Inquiry of staff regarding specific factual information on existingpolicy. .Y No action from the Board was required. ' ADJOURN. There being no further business to come before the Board, Chairman Pfeiffer adjourned the ' meeting at 6:54 p.m. Secreta , ry 1 1 2 LA PORTS REDEVELOPMENT AUTHORITY, CITY OF LA PORTE,TEXAS iAGENDA MEMORANDUM i TO: La Porte Redevelopment Authority Board of Directors FROM: Executive Director SUBJECT: Agenda Item Materials i 3. Consider the Estoppel Certificate and Consent to assignment to and for the benefit of Liberty Property Limited Partnership,a Pennsylvania limited partnership(Purchaser),and Land Services Title of Texas,as agent for Fidelity National Title Insurance Company. 1 i i 1 1 1 i i i LA PORTE REDEVELOPMENT AUTHORITY do Hawes Hill Calder6n LLP P.O.Box 22167 Houston TX 77227-2167 i713-595-1200 or FAX 281-888-6314 ESTOPPEL CERTIFICATE AND CONSENT TO ASSIGNMENT ' THIS ESTOPPEL CERTIFICATE (this "Certificate") has been executed this 29th day of July, 2015, by REINVESTMENT ZONE NUM BER ONE, CITY OF LA PORTE, TEXAS, a tax increment reinvestment zone created by the City of La Porte, Texas pursuant to ' Chapter 311 of the Texas Tax Code, as amended (the "TIRE'), and LA PORTE REDEVELOPMENT AUTHORITY, a Texas non-profit corporation(the "Authority"),to and for the benefit of LIBERTY PROPERTY LD41TED PARTNERSHIP, a Pennsylvania limited partnership ("Purchaser"), and LAND SERVICES TITLE OF TEXAS, as Agent for FIDELITY NATIONAL TITLE INSURANCE COMPANY("Title Company"). ' RECITALS: A. Purchaser is about to purchase certain tracts of undeveloped land situate in La Porte, Texas (collectively, the "Property"). The current owner of the Property is Port Crossing Land, LP, a Texas limited partnership("Developer"). ' B. Reference is hereby made to the Development Agreement, effective May 24, 2006, as amended by First Amendment to Development Agreement effective as of April 27, 2011 (collectively, the "Development Agreement") between the TIRZ, the Authority and ' Developer. ' C. All capitalized terms used herein but not otherwise defined herein shall have the meanings set forth in the Development Agreement. ' D. Purchaser and Title Company have requested and the TIRZ and the Authority have agreed to deliver this Certificate and Consent with respect to certain matters covered under the Development Agreement. ' In consideration of the recitals set forth above, the TIRZ and the Authority each hereby represents, warrants and certifies to Purchaser and Title Company, and otherwise consents and approves,the following: (1) Consent to Assignment. Provided Purchaser assumes in writing all of the obligations of Developer under the Development Agreement arising from and after the date of such assignment, the TIRZ and the Authority each hereby consents to the assignment to Purchaser of all rights, title and interest of Developer in, to and under the Development ' Agreement, including without limitation, the right to be reimbursed for Developer Advances which have been approved by the TIRZ and the Authority and which are currently accrued and vested in Developer. (2) Approved Developer Advances. The current amount of Developer Advances which have been approved by the TIRZ and the Authority and remain unpaid is $7,811,027.01, with accrued interest thereon through July 29, 2015. The last payment of approved Developer Advances made by the TIRZ and the Authority to Developer was made on July 29,2015,in the amount of$1,147,826.00. PHDATA 53722501 1 (3) Payments by Developer. As of the date hereof, all payments due from Developer under the Development Agreement have been paid, and there are no sums due and payable by Developer thereunder. , (4) Existing Public Improvements. To the knowledge of the TIRZ and the ' Authority, all Public Improvements located upon the Property as of the date hereof, have been constructed in accordance with, and are otherwise not in violation of, the terms, conditions, provisions and requirements of the Development Agreement. (5) Future Public Improvements. Any Public Improvements not yet completed and made pursuant to the Development Agreement are available for reimbursement , through the TIRZ and the Authority in accordance with the terms of the Development Agreement. (6) Full Force and Effect; No Defaults. The Development Agreement is currently in full force and effect and has not been amended, supplemented or revised,nor has the Development Agreement expired or terminated by its terms. The TIRZ and the Authority each ' hereby confirms and certifies to Purchaser and Title Company that (i) neither the Property nor Developer;as the current owner of the Property, have defaulted under, or otherwise violated the terms set forth in, the Development Agreement, and (ii) no condition exists that with notice and ' the passage of time or both would constitute a violation or a default under the Development Agreement by the Property or Developer, as the current owner of the Property. ' (7) Notice. Effective upon their receipt of notice of the assignment of Developer's interest in the Development Agreement to Purchaser, all notices, demands, or other written communications to be delivered by the TIRZ and/or the Authority under the Development -Agreement or any other instrument applicable thereto, must be delivered to Purchaser in the manner set forth therein, as applicable,to the following address (or such other or ' further addresses as Purchaser may hereafter designate): Liberty Property Limited Partnership c/o Liberty Property Trust 8827 North Sam Houston Parkway West Houston,TX 77064 Attention: Vice President, City Manager (8) Statement of Authority. The persons executing this Certificate on behalf , of the TIRZ and the Authority have the power and authority to execute and deliver this Certificate on behalf of the TIRZ and the Authority,respectively. (9) Limited Waiver and Release. The TIRZ and the Authority each hereby ' confirms that it has no knowledge of any defaults under the Development Agreement. The TIRZ and the Authority each waives and releases any right or claim it may have under the ' Development Agreement to require Purchaser to make any alterations or changes to the Property or the Public Improvements on account of any violations, defaults, or other deficiencies existing 2 PHDATA 5372250_1 under the Development Agreement as of the date hereof. (10) Reliance. The TIRZ and the Authority each hereby acknowledges and agrees that each of Purchaser and Title Company has the right to rely and will rely on this Certificate,.and the certifications and statements by the TIRZ and the Authority herein, in ' connection with Purchaser's acquisition of the Property and Title Company's insuring Purchaser's title to the Property. (11) Successors and Assigns. g This Certificate shall be binding on the TIRZ and the Authority and their respective successors and assigns, and shall inure to the benefit of Purchaser and Title Company and their respective successors and assigns. ' IN WITNESS WHEREOF, this Certificate has been executed as of(but not necessarily on)the date and year first above written. ' TIRZ: ' REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE,TEXAS 1 By: Name: Title: ' AUTHORITY: LA PORTE REDEVELOPMENT AUTHORITY ' Name: Title: 1 3 PHDATA 53722501 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 the Second Amendment to Development Agreement by and between Tax Increment Reinvestment Zone Number One,City of La Porte,Texas,La Porte Redevelopment Authority, a Texas non-profit corporation,and Liberty Property Limited Partnership,a Pennsylvania limited partnership. r LA PORTE REDEVELOPMENT AUTHORM do Hawes Hill Calder6n LLP P.O.Box 22167 Houston TX 77227-2167 713-595-1200 or,FAX 281-888-6314 i ' SECOND AMENDMENT TO DEVELOPMENT AGREEMENT ' THIS SECOND AMENDMENT TO DEVELOPMENT AGREEMENT(this "Second Amendment") is made, entered into and effective as of the day of , 2015,by and among REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, ' TEXAS (the"TIRZ"),LA PORTE REDEVELOPMENT AUTHORITY, a Texas non-profit corporation(the"Authority"), and LIBERTY PROPERTY LIMITED PARTNERSHIP, a Pennsylvania limited partnership(the"Developer"). RECITALS: ' WHEREAS,the TIRZ,the Authority and Port Crossing Land,LP, a Texas limited partnership(the"Original Developer") entered into a certain Development Agreement, effective as of May 24,2006 (the"Original Agreement"), as amended by that certain First Amendment to Development Agreement effective as of April 27,2011 (the"First Amendment"and, together with the Original Agreement and this Second Amendment,the"Agreement"),with respect to the development within the boundaries of the TIRZ of an urban project consisting of residential, commercial,industrial and retail facilities(the"Project"); and WHEREAS, all of the Original Developer's right,title and interest in the Agreement, including the right to be reimbursed for Developer Advances (as defined in the Agreement),has been assigned by the Original Developer to the Developer; and WHEREAS,the TIRZ and the Authority have approved the assignment of the Original Developer's right,title and interest in the Agreement to the Developer; and ' WHEREAS, due to certain changes in circumstances,the parties wish to amend the Agreement as described herein. Section 1. Exhibit B to the Original Agreement is hereby deleted and replaced in its entirety with Exhibit B attached hereto. ' Section 2. Except as otherwise specifically provided herein,the terms and provisions of the Original Agreement and the First Amendment shall remain in effect. PHDATA 5381546_1 IN WITNESS WHEREOF,the parties have executed this Second Amendment in multiple counterparts, each of which shall be deemed an original as of the date and year first written above,to be effective as of the date specified in this Second Amendment. REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE,TEXAS ' Name: ' Title: LA PORTE REDEVELOPMENT AUTHORITY ' By: Name: Title: 1, LIBERTY PROPERTY LIMITED PARTNERSHIP By: Liberty Property Trust, Sole General Partner I� By: Name: Title: , t 2 PMATA 53815461 ' EDIT B THE TM IMPROVEMENTS I t 1 1 ' PHDATA 5381546_1 II I Exhibit B ' The TIRZ Improvements TOTAL TOTAL COSTS INCURRED ORIGINAL REIMBURSABLE ESTIMATED TO DATE AND ESTIMATED ESTIMATED COSTS INCURRED ADDITIONAL COSTS ADDITIONAL COST TO DESCRIPTION COSTS TO DATE TO COMPLETION COMPLETION CAPITAL IMPROVEMENT BUDGET DESCRIPTION AND ESTIMATED COSTS Streets with Storm Systems ' Powell Road(100'ROW) $1,795,000 Powell Road(60'ROW) $841,000 Abandon Powell Road ' Wharton Weems Boulevard $968,000 McCabe Road $225,000 SUBTOTAL $3,829,000 $3,560,057 $3,560,057 ' Water Distribution System 12"Public Mains $320,000 $522,105 8"Public Mains(where 12"not required) $1,077,808 Offsite Segment Crossing SH 146(12') $351,000 SUBTOTAL $671,000 $383,756 $11599,913 $1,983,669 ' Sanitary Sewer System Lift Station/Force Main $137,000 $80,000 ' Public Mains 8"-12" $308,000 $158,400 Offsite Public Mains $66,000 SUBTOTAL $511,000 $955,573 $238,400 $1,193,973 Drainage Protects Stormwater Detention/Drainage -Acquisition of 32 Acres $2,300,000 -Construction:Excavation $1,360,000 -Construction:Storm Sewer $1,232,000 $30,000 SUBTOTAL $4,892,000 $4,172,747 $30,000 $4,202,747 Sidewalks , Sidewalks/Pedestrial Trails along Major Roadways/Drainageways $120,000 $45,448 $45,448 Landscaping Along Major Roadways $300,000 $660,042 $ZS01000 $910,042 Clearing Public ROW and Easements $120,000 $182,001 $182,001 Engineering $1,303,000 $834,432 $317,747 $1,152,179 t 10%ContinaenN $243,606 $243,606 Developer Interest $1,370,413 TBD $1,370,413 TOTAL $11,746,000 $12,164,469 $2,679,666 $14,844,135 ' ' LA PORTE REDEVELOPMENT AUTHORITY, CITY OF LA PORTE,TEXAS iAGENDA MEMORANDUM TO: La Porte Redevelopment Authority Board of Directors FROM: Executive Director SUBJECT: Agenda Item Materials ' 5. Consider an Agreed Upon Procedures proposal from McCall Gibson Swedlund Barfoot PLLC. 1 LA PORTE REDEVELOPMENT AOTnoRrrY do Hawes Hill Calder6n LLP P.O.Box 22167 Houston TX 77227-2167 713-595-1200 or FAX 281-888-6314 McCALL GIBSON SWEDLUND BARFOOT PLLC Certified Public Accountants 1 13100 WorHmm Center Drioe Suite 235 111 Congress Avenue Houston,Texas 77065-5610 Suite 400 ' (713)462-0341 Austin,Texas 78701 Fax(713)462-2708 (512)610-2209 E-Mail:mgsb@M sbollc.com umnv.mg-sbllc.com June 10,2015 ' La Porte Redevelopment Authority c/o David Hawes Hawes Hill Calderon,LLP 9610 Long Point Road, Suite 150 Houston,TX 77055 We will perform the procedures enumerated below, which are agreed upon by the La Porte Redevelopment Authority (the "Authority") on the invoices and schedules submitted by Beazer Homes Texas LP and Senior Associates,Inc. (the"Developers") which are included for payment in accordance with the terms of the Development Agreement. Our report will be an agreed-upon ' procedures engagement performed in accordance with standards established by the American Institute of Certified Public Accountants with Regard to the Construction, Engineering and 1 Related Costs of the Developers. Our engagement will be limited to a review of the documentation and information submitted for review by the Developer, and will be for the purpose of determining the amount to be reimbursed and a comparison of the actual costs to the La Porte Tax Increment Reinvestment Zone(the"TIRZ")Estimated Zone Project Costs. This agreed-upon procedures engagement will be conducted in accordance with attestation 1 standards established by the American Institute of Certified Public Accountants. The sufficiency of the procedures is solely the responsibility of the City. Consequently, we will make no representation regarding the sufficiency of the procedures either for the purpose of which this 1 report has been requested or for any other purpose. The procedures we will perform are as summarized below: 1 A. We will review certain schedules and supporting invoices submitted by the Developers in substantiation of the costs to be reimbursed. Our review will include all documentation for supporting items, amounts, and proof of payment for which reimbursement is requested. In addition, we will review all agreements provided to us relative to the reimbursement request. B. We will prepare schedules that compute interest in accordance with the terms of the Development Agreement, and will limit interest where appropriate. ' Member of American Institute of Certified Public Accountants Texas Society of Certified Public Accountants La Porte Redevelopment Authority June 10,2015 ' c/o Hawes Hill Calderon,LLP Page 2 C. We will prepare a reimbursement report for the benefit of the City, including the 1 accountant's report and schedule of amounts reimbursable to the Developers. D. We will be available to attend a meeting to present the report, and to answer questions relating to the report. The objective of this agreed-upon procedures engagement will be to assist you in evaluating the ' reasonableness of the aforementioned costs. Because the above procedures will not be sufficient to constitute an audit made in accordance with generally accepted auditing standards,we will not express an opinion on the aforementioned reimbursable costs. However, we will report to you any matters that come to our attention that causes us to believe that the aforementioned costs are incorrect. In addition, this agreed-upon procedures engagement is not primarily or specifically designed, and cannot be relied upon, to disclose defalcations and other similar irregularities, although their discovery may result. This report of agreed-upon procedures is for the exclusive use of the Board of Directors of the Authority, and should not be distributed to or made available to persons or entities outside of the Board, nor should the report be associated with the presentation of any financial data of the Authority except as required by the specific agreement and the Texas Open Records Act. 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. The charge for this work will be at the firm's regular hourly rates. A portion of the cost of these procedures will be determined by the condition of the records submitted by the developer to be reimbursed. Billing will be made when the final report is issued. The hourly rates are as follows: • Clerical Services$70-$85 per hour • Staff Professional $85-$135 per hour ' • Senior Professional or Manager$130-$175 per hour • Principal at$250 per hour We estimate the cost of performing these procedures on your behalf to range between$5,000 and $7,000. 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. ' 1 La Porte Redevelopment Authority June 10,2015 c/o Hawes Hill Calderon,LLP Page 3 We appreciate the confidence you have placed in this firm by retaining us as your independent accountants in this matter. If you agree with the above understanding of the engagement,please sign the duplicate copy of this letter and return it at your earliest convenience. Thank you. Sincerely yours, ! c 1 McCall Gibson Swedlund Barfoot PLLC I ACKNOWLEDGEMENT: 1 ! Signature Title Date Engagement Letter—Bayside reimb 2015 1 1 1 1 1 ! 1 1 1 1 LA PORTE REDEVELOPMENT AUTHORITY, CITY OF LA PORTE,TEXAS 1 AGENDA MEMORANDUM TO: La Porte Redevelopment Authority Board of Directors FROM: Executive Director SUBJECT: Agenda Item Materials 6. Consider a proposal from McCall Gibson Swedlund Barfoot PLLC for FY 2015 audit services. 1 1 . 1 1 t - 1 1 LA PORTS REDEVELOPMENT AUTnoRrrY do Hawes Hill Calder6n.LLP P:O.Box 22167• Houston TX 77227-2167 713-595-1200 or FAX 281-888-6314 i McCALL GIBSON SWEDLUND BARFOOT PLLC Certified Public Accountants 13100 Worthen:Center Drive Suite 235 111 Congress Avenue Houston,Texas 77065-5610 Suite 400 (713)462-0341 Austin,Texas 78701 Fax(713)462-2708 (512)610-2209 E-Mail:mgsWingsbpllc.coat zorvru.rugsbnllc.com July 29,2015 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, 2015. 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, 2015. 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: I 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 July 29,2015 La Porte Redevelopment Authority Page 2 Audit Objective 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. ' Board of Directors July 29,2015 La Porte Redevelopment Authority Page 3 1 Management Responsibilities g p ibilihes(Continued) 1 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 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. 1 Board of Directors July 29,2015 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 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. ' Board of Directors July 29,2015 La Porte Redevelopment Authority Page 5 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, 2015, to range between$7,000 and$8,000 ' 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, xcl�g zakn J04LVt ' McCall Gibson Swedlund Barfoot PLL'C Certified Public Accountants This letter correctly sets forth the understanding of the La Porte Redevelopment Authority. ' Signature Title Date Engagement Letter i 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 _ 7. Consider tax year 2014 developer increment disbursements. LA PORTE REDEVELOPMENT AUTHORrrY do Hawes Hill Calder6n LLP P.O.Box 22167 Houston TX 77227-2167 713-595-1200 or FAX 281-888-6314 r� rr rr r rr r� r■� tr r� rr rr r � r rr tr rr rr rr rr La Porte Redevelopment Authority Tax Year 2014 Disbursement Report-CURRENT TAX Cash Balance $ 1,664,957.80 $ 1,664,957.80 Obligations Increment Obligated to others for prior years $ (229,400.00) City of La Porte Trunkline FY 2015 $ (120,000.00) FY 2014 Remaining Expenses $ (3,000.00) FY 2015 Projected Expenses $ (137,100.00) $ 1,175,457.80 2013 Tax Year Certified Total Value in the TIRZ as of Apr.2012(Taxable Value) $112,914,910 Less the Tax Increment Base(1999)Value $7,226,380 Total-Increment Created $105,688,530 Lakes at Fairmont Green(Plat recorded 2/27/08) $10,597,346 10% $ 117,862.68 No Payment/No AUP Retreat at Bay Forest N&S(Plat recorded 3/18/08) $1,616,160 2% $ 17,974.78 Port Crossing $93,120,349 88% $ 1,035,675.68 Remaining $354,675 0% $ - $105,688,530.00 100% -T-1,171,513.14 County Payment to TIRZ $ 295,350.00 FY 2015 County Sylvan Beach Payment $ (183,199.22) $ 112,150.78 Port Crossing $93,120,349 100.000% $ 112,150.78 $ 112,150.78 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 ' 8. Approve the FY 2015/2016 budget. r _ r t LA PORTE REDEVELOPMENT AUTHORITY do Hawes Hill Calder6n LLP P.O.Box 22167 ' Houston TX 77227-2167 713-595-1200 or FAX 281-888-6314 La Porte Redevelopment Authority Tax Increment Reinvestment Zone Number One ' City of La Porte FY 2015 - 16 Approved Budget 2014-15 2015-16 ' Approved 2014-15 Proposed Budget Estimated Budget Revenues: Beginning Fund Balance $ 655,143 $ 655,143 $ 544,506 Estimated TIRZ Revenues City $ 619,439 $ 738,915 $ 761,082 ' County $ 301,257 $ 279,344 $ 287,724 LPISD $1,278,703 $1,407,985 $ 1,450,225 Interest on City TIRZ Funds $ 650 $ 260 $ 300 Estimated TIRZ Developer Advances $ - $ - $ - Lakes of Fairmont Greens $ - $ - $ Beazer Homes-Expansion Area $ 488,584 $ 488,584 $ Port Crossing $ - $ - $ - Total Revenues $3,343,777 $3,570,231 $3,043,837 TIRZ M&O Expenses: Administration and Project Management $ 31,500 $ 27,124 $ 31,500 TIRZ Expansion Costs $ - $ 10,000 $ - ' Legal $ 3,000 $ - $ 3,000 Agreed Upon Procedures Reports $ 3,000 $ 4,000 $ 4,000 Annual Audit $ 6,750 $ 5,500 $ 6,000 Operating Expenses $ 500 $ 310 $ 500 Bank Expenses $ 100 $ 97 $ 100 Total Expenses $ 44,850 $ 47,031 $ 45,100 Transfers City Administration $ 54,850 $ 81,075 $ 83,102 Educational Facilities $ 469,453 $ 458,003 $ 469,453 Total Transfers $ 524,303 $ 539,078 $ 552,555 Capital Improvements ' City CIP Trunk Line Project $ 250,000 $ 250,000 $ 250,000 Sylvan Beach Restoration Project $ 250,000 $ 183,200 $ - Beazer Homes Capital Improvements $ 488,584 $ 488,584 $ 500,000 TIRZ Developer Reimbursements Lakes of Fairmont Greens $ 232,500 Retreat at Bay Forest $ 50,000 $ 17,975 $ 17,975 Port Crossing $1,200,000 $ 1,147,826 $ 1,147,826 $2,238,584 $2,320,085 $1,915,801 Ending Fund Balance $ 536,039 $ 664,036 $ 530,381 ' 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 II ' 9. Consider approval or other action regarding Authority invoices. I I 1 LA PORTE REDEVELOPMENT AUTnoRrrY do Hawes Hill Calder6n LLP P.O.Box 22167 ' Houston TX 77227-2167 713-595-1200 or FAX 281-888-6314 IIII- VIII- IIIIIII. IIIIIIIII• IIIIIIIII■ IIIIIII. M IIID II- 11111111111111 IIIIIIIIillll 1111- IIIIIII- Ifs 11111111111111 Illlr IIIIIII. 111111- JULY 2015 REVENUE/EXPENSE SUMMARY-OPERATING ACCOUNT Beginning Fund Balance, 6/1/2015 $ 393,664.31 6/23/2015 Wire xfr City of La Porte 2014 tax $ 738,914.64 6/23/2015 Wire xfr City of La Porte 2014 tax $ 830,435.71 6/30/2015 Interest deposit interest $ 34.45 7/7/2015 Harris County 2014 tax $ 279,344.00 $ 2,242,393.11 Checks outstanding Checks paid Checks submitted for approval #170 Port Crossing Land, LP developer reimbursement $ 1,147,826.00 #171 Retreat at Bay Forest developer reimbursement $ 17,974.78 #172 City of La Porte trunkline reimbursement $ 250,000.00 #173 Harris County Sylvan Beach AH002859 $ 183,199.22 #174 City of La Porte Admin fee 16118 $ 81,074.71 #175 McCall Gibson Swedlund Barfoot PLLC Audit,final invoice $ 2,000.00 #176 McCall Gibson Swedlund Barfoot PLLC Agreed-upon procedures $ 2,000.00 #177 Hawes Hill Calderon LLP Inv 4942-5104 $ 13,811.38 $ (1,697,886.09) } 4iFund tialance�O era 'n'A'cauni"as ,:,T4- 'A �z ; � z i ;.� ' .11!.27,2015 �,: t :" _ mss• '£ ,r� 4507 02 m:,:sfr:ofaiL.,a 4�: '4 s ' T"-W +- 'S:• �j '. . & 'ivz../•. .c...4_-. La Porte Redevelopment Authority Cash Flow Report, FY 2009-2015 Cleared Bank Operating Account For Amount Subtotal Total Beginning fund balance,10/1/2009 $ 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 llll� Ili lli• lllllll� l♦ )♦ lllllll� lllllllli• lllllll� lll� llllllll� llllllll� lllll� llllllll� i� ll� � l� lll� 6/30/2011 Interest deposit(0.10%) Interest $ 115.72 7/25/2011 Wire xfer City of La Porte county TIRZ payment $ 171,528.00 7/29/2011 Interest deposit(0.10%) Interest $ 166.23 8/31/2011 Interest deposit(0.05%) interest $ 139.39 9/30/2011 Interest deposit(0.05%) interest $ 41.88 10/31/2011 Interest deposit(0.05%) Interest $ 6.98 11/30/2011 Interest deposit(0.05%) Interest $ 41.88 12/31/2011 Interest deposit(0.05%) Interest $ 41.88 1/31/2012 Interest deposit(0.05%) Interest $ 44.67 2/29/2012 Interest deposit(0.05%) Interest $ 40.04 3/30/2012 Interest deposit(0.05%) Interest $ 41.32 4/30/2012 Interest deposit(0.05%) Interest $ 42.46 5/24/2012 Wire xfer City of La Porte city TIRZ payment $ 591,728.53 5/24/2012 Wire xfer City of La Porte city TIRZ payment $ 483,366.12 5/31/2012 Interest deposit(0.05%) interest $ 54.15 6/25/2012 Wire xfer City of La Porte county TIRZ payment $ 215,582.00 6/29/2012 Interest deposit(0.05%) Interest $ 83.82 7/31/2012 Interest deposit Interest $ 100.32 8/31/2012 Interest deposit Interest $ 92.56 9/28/2012 Interest deposit Interest $ 45.36 10/31/2012 Interest deposit interest $ 53.24 11/30/2012 Interest deposit Interest $ 48.37 12/31/2012 Interest deposit Interest $ 49.99 1/31/2013 Interest deposit interest $ 49.99 2/28/2013 Interest deposit Interest $ 38.04 3/29/2013 Interest deposit Interest $ 34.32 4/30/2013 Interest deposit Interest $ 31.78 5/20/2013 Wire xfr City of La Porte city TIRZ payment $ 461,057.04 5/20/2013 Wire xfr City of La Porte taxes cc $ 557,872.33 5/31/2013 Interest deposit Interest $ 46.47 6/24/2013 Wire xfr City of La Porte Harris County $ 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 annexatlon $ 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 8/29/2014 Interest deposit Interest $ 32.65 9/30/2014 Interest deposit interest $ 29.03 10/31/2014 Interest deposit interest $ 28.12 11/28/2014 Interest deposit Interest $ 25.40 12/31/2014 Interest deposit Interest $ 29.68 1/30/2015 Interest deposit interest $ 25.41 2/27/2015 Interest deposit Interest $ 15.11 3/31/2015 Interest deposit Interest $ 17.25 4/30/2015 Interest deposit interest $ 16.18 5/29/2015 Interest deposit Interest $ 15.64 6/23/2015 Wire xfr City of La Porte 2014 tax $ 738,914.64 6/23/2015 Wire xfr City of La Porte 2014 tax $ 830,435.71 6/30/2015 Interest deposit Interest $ 34.45 7/7/2015 Wire xfr Harris County 2014 tax $ 279,344.00 Total;Revenues $ 9,573,163.67'- .$ 9,573,163.67 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 Inv 3385,3400,3422 $ 7,937.24 2/25/2010 #120 Hawes Hill Calderon LLP Inv 3514,3466,3515 $ 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 _ Inv 3766-3874- _ _$ 17,686.39- 8/22/20111 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 Inv 4064 $ 13,685.83 4/9/2012 #131 McCall Gibson Swedlund Barfoot PLLC interim billing-audit $ 4,000.00 4/9/2012 #132 Hawes Hill Calderon LLP Inv 4105 $ 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 Inv 4241 $ 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 2012EOYaudit—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 Inv43014626,43014630 $ 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 #1S7 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 $ 50,000.00 7/24/2014 #163 Hawes Hill Calderon LLP Inv 43014745 $ 3,611.61 8/5/2014 #160 Port Crossing Crossing Land LP AUP-reimbursement $ 1,075,874.56 8/5/2014 #162 City of La Porte TIRZ admin fee $ 53,511.96 8/29/2014 #164 Hawes Hill Calderon LLP Inv43014778 $ 3,915.71 12/10/2014 #165 VOID $ - 12/12/2014 #166 Hawes Hill Calderon LLP TIRZ admin fee $ 9,647.18 1/23/2015 #168 Hawes Hill Calderon LLP Inv 4918 $ 3,650.80 1/27/2015 #169 Harris County Treasurer InvAH002859(Sylvan Beach) $ 250,000.00 2/2/2015 #167 McCall Gibson Swedlund Barfoot PLLC end of year audit $ 5,500.00 Toto/,Checks paid. _ $ 7133%673.56 . $. .(7,330;673.56) Bank fees: 6/18/2010 Wire transfer service fee $ 8.00 6/22/2010 Wire transfer service fee $ 8.00 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 Total,.Bonk fees $ 97.00. $. ,(97.00) Checks outstanding $ - Total,Checks outstanding $. $ Checks submitted for approval #170 Port Crossing Land,LP developer reimbursement $ 1,147,826.00 #171 Retreat at Bay Forest developer reimbursement $ 17,974.78 #172 City of La Porte trunkline reimbursement $ 250,000.00 #173 Harris County Sylvan Beach AHY002859 $ 183,199.22 #174 City of La Porte Administrative fee Inv 16118 $ 81,074.71 #175 McCall Gibson Swedlund Barfoot PLLC Audit,final Invoice $ 2,000.00 #176 McCall Gibson Swedlund Barfoot PLLC Agreed-upon procedures $ 2,000.00 #177 Hawes Hill Calderon LLP Inv4942-5104 $ 13,811.38 Total,.Checks.submitted _ _ -$.--.-1;697;886.09:--$-: -(1,697;886:09): --- - Total expenses $ . 9,628;656.65 $ (9,028;656:65). 5u'ti '' - '7'" i�<f�Y.�.e A ` '�:.�' r � r '�, G;"t n� w�6� +y��r t>3 ran. • 7Y` e: +' R` 3., "fie ' fi *.` �,4 n hw �, 5 R7 s Fund ba a..ce,O erafrp ACcoun a of�an any 1J* OS' } w ,I I a t°'' ` a aa„ r' y0' O' �.. 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SCHOTT REMIT PAYMENT TO: ' HARRIS COUNTY AUDITOR �44`,S CoGy Harris County Treasurer 1001 Preston,Suite 80.0 Orlando Sanchez * * 1001 Preston,Room 652 Houston,Texas 77002 Houston,Texas 77002 (713)755-1160 TExr,S Invoice/Statement No.: AH0028-59 INVOICE Customer No.: V00024712 ' CITY OF LAPORTE ATTN CITY MANAGER 604 W FAIRMONT PKWY RECEIVED Amount Due: 183,199.22 LA PORTE, TX 77571 (Please detach and mail this top portion t+itlt payment) JUN 2 3 2015 Amount Paid: ' CY MANAGER-'b OFFICE ' DATE DESCRIPTION AMOUNT 02/29/12 SYLVAN BEACH SHORELINE NOTE 600,000.00 MATCH OF $600, 000 OR NOTE RECEIVABLE TO CITY OF LA PORTE ON 11/24/2009. ' 02/29/12 12/01/09-05/31/10:INTEREST 12;750.00 02/29/12 06/01/10-11/30/10:INTEREST 13,020.94 02/29/12 12/01/10-05/31/11:INTEREST 13,297.63 02/29/12 06/01/11-11/30/11:INTEREST 13,580.21 10/30/12 12/01/11-05/31/12: INTEREST 13,945.41 12/12/12 . 06/01/12-11/30/12:INTEREST 14,165.13 02/12/13 Payment -166,594 .19 ' 07/19/13 12/01/12-02/12/13 : INTEREST 5,834.41 07/19/13 02/13/13-05/31/13 : INTEREST 6,532.31 12/01/13 06/01/13-11/30/2013 : INTEREST 11,188.80 06/12/14 12/01/13-05/31/14: INTEREST 11,426.56 ' 06/17/14 Payment -130,500.00 12/15/14 06/01/14-06/17/2014 :INTEREST 1,025.88 12/15/14 06/18/14-11/30/2014 :INTEREST 8,085.05 ' 01/27/15 Payment -1.30,663 .95 j 01/27/15 Payment -119,336.05 06/17/15 12/01/14-01/26/15c'INTEREST 2,812.33 06/17/15 01/27/15-05/31/15:INTEREST 2,628.75 { ' 1 The above amount: is for County services. Amounts are due upon 1 receipt of the invoice. If you have any questions, contact Accounts Receivable at. 713-755-1160.: ! REIVIIT PAYMENT'TO: HARRIS COUNTY TREASURER ' 01-kindo S(inchez 1001 Preston,Roont 652 ' County Auditors Fornt 7531 Hoitston, Te vas 77002 Harris County,Texas (REQ?3107) r Accessed: Note Receivable issued to Prime plus 1% City of La Porte on starting on Interests Payment 11/24/2009 12/01/2009 Start Date End Date Accrued received Loan Balance 1 $600,000.00 4.25% 12/01/09 5/31/2010 181 $12,750.00 $612,750.00 2 $612,750.00 4.25% 06/01/10 11/30/2010 182 $13,020:94 $625,770.94 3 $625,770.94 4.25% 12/01/10 5/31/2011 181 $13,297.63 $639,068.57 4 $639,068.57 4.25% 06/01/11 11/30/2011 182 $13;580.21 $652,648:78 5 $652,648.75 4.25% 12/01/11 5/31/2012 182 $13,945.41 $666,594.19 6 $666,594.19 4.25% 06/01/12 11/30/2012 182 $14,165.13 $680,759.32 7 $680;759.32 4.25% 12/01/12 2/12/2013 73 $5;834.41 $686,593.73 ($166,594.19) $519,999.54 8 $519,999.54 4.25% 02/13/13 5/31/2013 107 $6,532.31 $526,531.86 9— $526,531.86 4.25% 06/01/13- _ -11/30/2013 182 - $111188:80 — -- 10 $537,720.66 4.25% 12/01/13 5/31/2014 181 $11,426:56 $549,147.22. 11 $549,147.22 4.25% 06/01/14 6/17/2014 16 $2,025,88 $549;147.22 $550,173.10 12 $419,673.10 4.25% 06/18/14 11/30/2014 165 $8,085.05 ($130,500.00) $419,673.10 _ $427,758.15 13 $427,758.15 4.25% 12/01/14 1/26/2015 56 =`y$281233` $430,570.48 14 $180,570.48 4.25% 01/27/15 5/31/2015 124 $2;628751 ($0,000.00) $130,570.48 _ ........,.... $183,199.23 $115,741.40 Description: Check issued 11/24/09,cleared 12/04/09. Per Harris County Attorney,Douglas Ray, 12/01/09 is date used to start accruing interest of rime rate plus 1%. Per Morgan . P P n Chase&Co. 1 T1' g ustorxcaI prime rate since 12/16/08,have been 3.25%. 6/.17/2015 HistoricalPtimeRate JPMorganChase&Co._ His'toY'6�c-,oj Pr$me _ � 1990.-present 1983-1990 EHeellve Date. Rate' Effective Date Rate 12-1648 10-29m. 4.00% 06 05 89. 1100%0 10 68-08 - 4 50% 0224 89 11.50?/0 ' 04-3008: 5.0%-- 02-10.89 11;00% 034:8.=08 5:206: 11-28-88 6.1-36.08 6..00'k 0.1-22-08 0.60% 071488 9.50'.5' 12-11-07 725% 05=11=88 .90.0. 1041-07 M6..0% 02:02:88 094-07 Tt75%" 11-05=87 8:75% os-.2M& 8 25"/0 10-22-87 0510.06 8.60 0 10-07=87 9:25%n 03=2806- 7 75%u. 09-04-97 01:31=06 7:50% 0545.87 8:25016 1243-05 :725°/ 05:01-87 8:00% 11A]?05 7:00°/o '04:.02=87 7.75% A 09.29-05. .6.75% 08 26 86: 7.5.0°/a 08-09=05• 6.5670 07 11=86 06 3b-U5 6:255a ---- 04 05-03-05 6:0K 03-07-86 0322?05 5.75°� 06=1&85 9:50% , 02=02=05 5:56°(0 05.=20.85 10'.00%; 1214,04 5:25%' 01=15.86 10.50%. 12-19-184 10 75"/0 ' 09-21-04 4 M/o 11-28.84 11.2MA 0840-04: 4.50% 'N--- 1126-84 111.50%° ' 0630-04; 4,25% ' http lhv.ww jpmorganchaSe.comlcorporate/About-JPMC]Nttbrical-prim rate 113 i 6f1712015Hstoncal .4 eRate JPMorganChase-0.0 11-07-s4 71:750A _.........._. ------ _..._.._. 10-29-84--' __12..00% I 11_-07.02 -4:266 i - 12=92=01 4:75.010 - - ---- 09-27-84 72:75.%. 1107-01' 13.00%. 10.0301 55070 - s05=0&84 12;50010 09=17=U1> 6:000, ' b4-05=84: � i2 00"io 08:22-01' 6:50%:' 0349=84 11.5070 05 28=0.1 6:750% M.08-83 11:00% 05401 7.00% `---� 0449=01 7:50% 03:21-01 z.,66% Q3.21=01 8:00%. 02-01,01 01=04-01 9:00.°,0 01547-00 9.50% ' 03-22-00 9.00% 02=0300- 8.757o 1147-99. —' .8.50%, 08=2599 8.26% 07-01.99 S.Ua'%o, t 11=18c98 7.75% _ 1046.98 :8S00i'o :825%. _-- ' 03=26-97 ibyo 0131=96' 8:250!0 12-20-96: 8.:50;'0 07-0145 8 70P ,tp]/www:jpmorganchase comlcorpocate/AUrnit:JPMC/fosloricai primp rate 2j3 6117/2015 H storical.:Prime... ate.JPMorgan'Chase:&Co.. �a616 94 L75% ' 0547-941 7.25.% 03=23-94 07-02:92 6.00% 12731:=91 6.50% 110 91 7.50% 09-13 91, 8:00°/0: 05-01-91. 8:50?/u 02=01-91, 9.00%u 02-01=91 9:.000/0 ' 12-20:90 9:50% 01 06 30 70:00°70 *Rates.from Nov.13,2004 forward represent JPMorgan'Chase Bank,N&Prior rates.rep�esent Bank One,NA. i Privacy'&Security ITerms&'C.ondiCions USA Patriot Act Certification]Recerfification Site Map. -Cookies Policy JV Fopow us, @Chase . ©:.2015 JPMorgan Chase;&'Co. i { r httpJ&w:usr jpmorgancttase.com/corporatelAbout JPMC/Hstoiical b�ime-rate _ t INVOICE I, CITY OF LA PORTE 604 W; FAIRMONT PARKWAY LA PORTE, TX 77571 ('281) 471-5020 i TO: LA PORTE REDEVELOPMENT AUTHORI INVOICE NO: 16118 ATTN: DAVID HAWES DATE: 7/14/15 PO BOX 22167 HOUSTON, TX 77227 CUSTOMER NO: 1905/144427 TYPE: MS MISCELLANEOUS ----------------------------------I DESCRIPTION UNIT PRICE EXTENDED PRICE ----------- ------------------ ------ . -------------- ----------------- 1.00 TIRZ ADMINISTRATION FEE 81,074.71 81,074.71 5% ADMIN FEE CITY COLLECTIONS $ 36,741.13 LPISD COLLECTIONS $ 44,333.58 TOTAL $ 81,074.71 FOR BILLING ASSISTANCE-CONTACT LISA @ 281-470-5042 I **ONLINE PYMNT NOW AVAILABLE @ WWW.LAPORTETX.GOV** TOTAL DUE: $81,074.71 PLEASE DETACH AND; SEND THIS COPY WITH REMITTANCE DATE: 7/14/15 DUE DATE: 8/03/15 NAME: LA PORTE REDEVELOPMENT AUTHORI CUSTOMER NO: 1905/144427 TYPE: MS - MISCELLANEOUS REMIT AND MAKE CHECK PAYABLE TO: CITY OF LA PORTE ATTN: ACCOUNTING DIVISION 604 WEST FAIRMONT PARKWAY LA PORTE TX 77571! (281) 471-5020 INVOICE NO: 16118 TERMS: NET 20 DAYS AMOUNT: $81,074.71 of L Porte City a Administrative Fee Calculation 2015 City Collections Transfer to La Porte Redevelopment Authority 6.23.2015 738,914.64 Less Adjustments from prior years: 2000 1,438.52 2001 1,942.95 2002 1,996.99 2003 1,645.05 2004 1,595.23 2005 1,144.08 2006 (825.14) , 2007 (682.92) 2008 (8,460.86) 2009 (4,341.18) 2010 (4,776.70) 2011 (5,077.20) 2012 (5,565.77) 2013 15,874.80 Tax collections for 2014 734,822.50 5%administrative fee due to the City for city collections $36,741.13 LPISD collections Transfer to La Porte Redevelopment Authority 6.23.2015 830,435.71 Less Adjustments from prior years: 2000 388.85 2001 569.40 2002 539.28 2003 497.31 2004 460.55 2005 (153.24) 2006- (1,806.22) 2007 (1,125.15) _ 2008 (5,247.20) 2009 (5,266.67) 2010 (5,835.47) 2011 (6,103.08) 2012 (6,713.11) 2013 86,030.65 Tax collections for 2014 886,671.61 5%administrative fee due to the City for school district collections 44,333.58 Total to be Billed to La Porte Redevelopment Authority $81,074.71 -=•^ my-w- Mu)usLm�(:Ity oe Previous Payments Previous Previous Previous Previous Previous 2000 Tax Year Payments Based Payments Made June Payments Payments Payments Payments Payments Percentage on Percentage Made 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Total Taxes Collected As of May 2015 $62,394.28 Total Value in the TIRZ as of today $8,268,320 Less the Tax Increment Base(1999)Value $7,433,570 89.9042% $56,095.10 Equals the Captured Appraised Value $834,750 10.0958% $6,299.18 $8,641.10 $1,177.03 $0.00 $0.00 $0.00 ($2,330.53) $250.10 ($1,438.52) Previous Previous Payments Previous Previous Previous Previous Previous Payments Based Payments Made June Payments Payments Payments .Payments Payments Tota Tax Yearl Taxes Collected As of May 2015 $83,409.54 Percentage on Percentage Made 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Tota _ Total Value in the TIRZ as of today $8,357,910 Less the Tax Increment Base(1999)Value $7,433,570 88.9405% $74,184.89 Equals the Captured Appraised Value $924,340 11.0595% $9,224.65 $9,020.54 $53.51 $1,787.67 $0.00 $0.00 ($34.76) $340.64 ($1,942.95) Previous Previous Payments Previous Previous Previous Previous Previous 2002 Tax Year Payments Based Payments Made June Payments Payments Payments Payments Payments Percentage on Percentage Made 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Total Taxes Collected As of May 2015 $80,991.80 Total Value in the TIRZ as of today $8,025,930 Less the Tax Increment Base(1999)Value $7,433,570 92.6194% $75,014.14 Equals the Captured Appraised Value $592,360 7.3806% $5,977.66 $6,072.27 $253.58 $1,221.76 $16.37 $0.00 $49.89 $358.76 ($.1,996.99) - - -- - ----- - - -- - -- Previous- Previous revious Previous Payments Previous Previous Previous Previous Previous 2003 Tax Year Payments Based Payments Made June Payments Payments Payments Payments Payments Total Taxes Collected As of May 2015 Percentage on Percentage Made 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Y $91,206.18 Total Value in the TIRZ as of today $9,791,260 Less the Tax Increment Base(1999)Value $7,433,570 75.9205% $69,244.15 Equals the Captured Appraised Value $2,357,690 24.0795% $21,962.03 $4,787.95 $14,952.42 $3,681.95 $16.42 $0.00 ($136.53) $304.87 ($1.645.05) Previous Previous Payments Previous Previous Previous Previous Previous 2004 Tax Year Payments Based Payments Made June Payments Payments Payments Payments Payments Total Taxes Percentage on Percentage Made 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Total Value Collected As of May 2015 $89,828.79 in the TIRZ as of today $9,795,990 Less the Tax Increment Base(1999)Value $7,433,570 75.8838% $68,165:50 Equals the Captured Appraised Value $2,362,420 24.1162% $21,663.29 $10,859.68 $8,683.82 $3,554.79 $16.22 $0.00 ($137,92) $281.93 ($1,595.23) Previous Previous Payments Previous Previous Previous Previous Previous 2005 Tax Year Payments Based Payments Made June Payments Payments Payments Payments Payments Percentage on Percentage Made 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Total Taxes Collected As of May 2015 $87,632.8$ Total Value in the TIRZ as of today $9,577,725 Less the Tax Increment Base(1999)Value $7,433,570 77.6131% $68,014.56 Equals the Captured Appraised Value $2,144,155 22.3869% $19,618.27 $9,314.10 $6,637.64 $2,808.98 $2,344.13 $0.00 ($151.97) ($190.73) ($1.144.08) Previous Previous Payments Previous Previous Previous Previous 2006 Tax Year Payments Based Payments Made June Payments Payments Payments Payments Previous Total Taxes Collected As of May 2015 Percentage on Percentage Made 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Y $101,847.04 Total Value in the TIRZ as of today $14,306,471 Less the Tax Increment Base(1999)Value $7,433,570 51.9595% $52,919.21 Equals the Captured Appraised Value $6,872,901 48.0405% $48,927.83 $30,625.48 $15,106.14 $481.72. $3,454.45 $0.00 ($155.78) (51,409,32) $825.14 Previous Previous Payments Previous Previous Previous Previous Previous 2007 Tax Year Payments Based Payments Made June Payments Payments Payments Payments Payments Total Taxes Collected As of May 2015 Percentage on Percentage Made 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Y $114,622.01 Total Value in the TIRZ as of today $15,200,294 Less the Tax Increment Base 0999)Value $7,433,570 45.88540/. $52,594.77 Equals the Captured Appraised Value $8,766,724 54.1146% $62,027.24 $30,701.43 $25,062.21 $2,375.67 $4,144.87 $0.00 $669.04 ($1,608.90) $682.92 Payments Previous Previous Previous Previous Previous 2008 Tax Year Payments Based Made June Payments Payments Payments Payments Payments Total Taxes Collected As of May 2015 Percentage on Percentage 2009 Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Y $523,505.32 Total Value in the TIRZ as of today $80,236,736 Less the Tax Increment Base(1999)Value $7,433,570 9.2645% $48,500.40 Equals the Captured Appraised Value $72,803,166 90.7355% $475,004.92 $356,756,30 $101,922.73 $10,542.07 $0.00 $238.36 (32,915,40) $8,460.86 Previous Previous Previous Previous 2009 Tax Year Payments Based Payments Payments Payments Payments Payments Total Taxes Collected As of May 2015 Percentage on Percentage Made May 2010 Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Y $567,753.07 Total Value in the TIRZ as of today $80,236,736 Less the Tax Increment Base(1999)Value $7,433,570 9.2645% $52,599.75 Equals the Captured Appraised Value $72,803,166 90.7355% $515,153.32 $0.00 $464,835.04 $62,132.58 $0.00 ($14,622.38) ($1,533.10) $4,341.18 Previous Previous Previous Previous 2010 Tax Year Payments Based Payments Payments Payments Payments Total Taxes Collected As of May 2015 Percentage an Percentage Made May 2011 Made May 2012 Made May 2013 Made May 2014 Difference Y $556,844.79 Total Value In the TIRZ as of today $78,813,340 Less the Tax Increment Base(1999)Value $7,433,570 9.4319% $52,520.66 Equals the Captured Appraised Value $71,379,770 90.5681% $504,323,93 $494,308.28 $0.00 $7,151.63 ($1,912.68) $4,776.70 Payments Based Previous Previous Previous 2011 Tax Year Percentage on Percentage Payments Payments Payments Total Taxes Collected As of May 2015 $527,217.15 Made May 2012 Made May 2013 Made May 2014 Difference Total Value in the TIRZ as of today $74,542,635 Less the Tax Increment Base(1999)Value $7,433;570 9.9722% $52,575.36 Equals the Captured Appraised Value $67,109,066 90.0278% $474,641.79 $0.00 $491,032.93 ($19,771,19) ($1,697.15) $5,077.20 2012 Tax Year Payments Based Previous Previous Total Taxes Collected As of May 2015 Percentage on Percentage Payments Payments $551,893.06 Made May 2013 Made May 2014 Difference Total Value In the TIRZ as of today $77,964,252 Less the Tax Increment Base(1999)Value $7,433,570 9.5346% $52,620.73 Equals the Captured Appraised Value $70,530,682 90.4654% $499,272.33 $0.00 $0.00 $490,289.18 $3,417.38 $5,565.77 �w w ww ww ww w iw �w ww w w� ww ww ww w ww w w w Payments Based Previous Previous 2013 Tax Year Percentage on Percentage Payments Payments Total Taxes Collected As of May 2015 $650,273.20 Made May 2013 Made May 2014 Difference Total Value In the TIRZ as of today $92,001,765 Less the Tax Increment Base(1999)Value $7,433,570 8.0798% $52,540.85 Equals the Captured Appraised Value $84,568,195 91.9202% $597,732.35 $0.00 $0.00 $613,607.15 ($15,874.80) 2014 Tax Year Payments Based Percentage on Percentage ' Total Taxes Collected As of May 2015 $786,607.53 Difference Total Value in the TIRZ as of today $112,914,910 Less the Tax Increment Base(1999)Value $7,433,570 6.5833% $51,785.03 Equals the Captured Appraised Value $105,481,340 93.4167% $734,822.50 $0.00 $0.00 $734,822.50 Amount to be paid May 2014 to TIRZ $738,914.64 1 ----• •--FLUItu value;rayments and Adjustments-LaPorte Independent School District Previous Previous Previous Previous Previous Previous 2000 Tax Year Payments Based Previous Payments Made Payments Made Payments Made Payments Made Payments Made Payments Made Total Taxes Collected As of May 2015 $140,547.08 Percentage on Percentage Payments Made June 2009 May 2010 May 2011 May 2012 May 2013 May 2014 Difference Total Value in the TIRZ as of today $8,273,540 Less the Tax Increment Base(1999)Value $7,259,820 87.7474% .47 $123,326 Equals the Captured Appraised Value $1,013,720 12.2526% $17,226.61 $19,615.97 $2,286.44 Equals Taxes due the TIRZ per penny of Tax Rate $0.00 $0.00 $3.21 -$4,520.23 $572.22 ($737.00) Times rate for General TIRZ Projects(.0086 per contract) $105.65 $120.34 Difference is Rate for Education Facilities Projects $9,085.72 $10,349.53 $1,206.34 $0.00 $0.00 $1.69 -$2,3B4.90 $301.91 ($388.85) $8,134.89 $9,266.44 $1,080.10 $0.00 $0.00 $1.52 -$2,135.33 $270.31 ($348.15) Previous Previous Previous Previous Previous Previous Payments Based Previous Payments Made Payments Made Payments Made Payments Made Payments Made Payments Made 2001 Tax Year Percentage on Percentage Payments Made June 2009 May 2010 May 2011 May 2012 May 2013 May 2014 Difference Total Taxes Collected As of May 2015 $188,637.73 Total Value In the TIRZ as of today $8,367,910 Less the Tax Increment Base(1999)Value $7,259,820 86.7579% $163,658.07 Equals the Captured Appraised Value $1,108,090 13.2421% $24,979.66 $20,470.01 $397.34 $4,235.80 Equals Taxes due the TIRZ per penny of Tax Rate $0.00 $3.47 $169.27 $762.98 ($1,079.21) Times rate for General TIRZ Projects(.0066 per contract) $153.25 $125.58 Difference is Rate for Education Facilities Projects $13,179.45 $10,800.13 $209.64 $2,234.84 $0.00 $1.83 $89.31 $413.11 ($569.40) $11,800.21 $9,669.88 $187.70 $2,000.96 $0.00 $1.64 $79.96 $369.88 ($509.81) Previous Previous Previous Previous Previous Previous Payments Based Previous Payments Made Payments Made, Payments Made Payments Made Payments Made Payments Made 2002 Tax Year Percentage on Percentage Payments Made June 2009 May 2010 May 2011 May 2012 May 2013 May 2014 Difference Total Taxes Collected As of May 2015 $188,425.85 Total Value in the TIRZ as of today $8,004,430 Less the Tax Increment Base(1999)Value $7,259,820 90.6975% $170,897.56 Equals the Captured Appraised Value $744,610 9.3025% $17,528.27 $14,145.95 Equals Taxes due the TIRZ per penny of Tax Rate $525.32 $2,891.57 $43.76 $9.40 $110.57 $855.18 ($1,053.48) Times rate for General TIRZ Projects(.0066 per contract) $104.33 $86.78 Difference is Rate for Education Facilities Projects $8,972.80 $7,463.51 $46.78 $1,410.21 $22.40 $4.62 $56.60 $437.77 ($539.28) $8,555.46 $6,682.44 $478.53 $1,411.36 $21.36 $4.60 $53.96 $417.41 ($514.20) Previous Previous Previous Previous Previous Previous Payments Based Previous Payments Made Payments Made Payments Made Payments Made Payments Made Payments Made 2003 Tax Year Percentage on Percentage Payments Made June 2009 May 2010 May 2011 May 2012 May 2013 May 2014 Difference Total Taxes Collected As of May 2015 $211,259.89 Total Value in the TIRZ as of today $9,756,690 Less the Tax Increment Base(1999)Value $7,259,B20 74.3934% $157,163.39 Equals the Captured Appraised Value $2,498,870 25.6066% $54096.50 $10,976.46 $35,140.52 $8,512.55 , Equals Taxes due the TIRZ per penny of Tax Rate $38.84 $0.00 -$321.09 $720.73 ($971.51) Times rate for General TIRZ Projects(.0086 per contract) $322.00 $67.34 Difference is Rate for Education Facilities Projects $27,692.26 $5,791.26 $17,815.24 $4,357.62 $19.86 $0.00 -$164.37 $361.94 ($497.31) $26,404.25 $5,185.20 $17,324.28 $4,154.93 $18.96 $0.00 -$156.72 $351.78 ($474.18) Previous Previous• Previous Previous Previous Previous 2004 Tax Year Payments Based Previous Payments Made Payments Made Payments Made Payments Made Payments Made Payments Made Total Taxes Collected As of May 2015 $214,623.05 Percentage on Percentage Payments Made June 2009 May 2010 May 2011 May 2012 May 2013 May 2014 Difference Total Value in the TIRZ as of today $9,761,520 Less the Tax Increment Base(1999)Value $7,259,820 74.3718% $159,619.07 Equals the Captured Appraised Value $2,501,700 25.6282% $55,003.98 $26,004.14 $17,805.66 $7,898.22 $39.74 $3,831.53 Equals Taxes due the TIRZ per penny of Tax Rate $317.30 $150.32 -$334.98 $687.30 ($928.33) Times rate for General TIRZ Projects(.0086 per contract) $27,287.81 $12,927.26 Difference is Rate for Education Facilities Projects $8,607.40 $3,911.35 $19.72 $1,900.84 -$166.18 $340.97 ($460.55) $27,716.17 $13,077.58 $8,998.27 $3,979.86 $20.02 $1,930.69 -$166.80 $346.33 ($467.78) _ M UM . �vious Pry, �ous MPrevi"w s P Bas Previous Payments Made Payments Made Payments 2 ax Year Percentage on Percentage Payments Made June 2009 May 2010 a011 Payments lade Paymentsay 2013 ade Payments 201 Made Difference Total Taxes Collected As of May 2015 $209,232.79 Total Value in the TIRZ as of today $9,524,093 Less the Tax Increment Base(1999)Value $7,259,820 76.2258% $159,489.45 Equals the Captured Appraised Value $2,264,273 23.7742% $49,743.34 $21,481.98 $13,214.10 $6,050.64 $5,757.63 $3,788.86 -$394.60 -$464.16 $308.89 Equals Taxes due the TIRZ per penny of Tax Rate $286.95 $124.17 Times rate for General TIRZ Projects(.0086 per contract) $24,677.97 $10,678.90 $6,534.04 $3,001.75 $2,856.40 $1,879.68 -$195.77 -$230.27 $153.24 Difference is Rate for Education Facilities Projects $25,065.36 $10,803.08 $6,680,07 $3,048.87 $2,901.24 $1,909.18 -$198.83 -$233.89 $155.64 Previous Previous Previous Previous Previous Previous Payments Based Previous Payments Made Payments Made Payments Made Payments Made Payments Made Payments Made 2006 Tax Year Percentage on Percentage Payments Made June 2009 May 2010 May 2011 May 2012 May 2013 May 2014 Difference Total Taxes Collected As of May 2015 $230,657.15 Total Value in the TIRZ as of today $14,247,997 Less the Tax increment Base(1999)Value $7,259,820 50.9533% $117,527.35 Equals the Captured Appraised Value $6,988,177 49.0467% $113,129.80 $68,032.35 $33,545.91 $1,103.27 $7,953.51 $2,793.31 -$457.04 -$3,275.44 $3,433.93 Equals Taxes due the TIRZ per penny of Tax Rate $691.93 $417.38 Times rate for General TIRZ Projects(.0086 per contract) $59,505.58 $33,819.55 $19,610.00 $580.30 212.80 - $4,183.50 $1,469.27 4240.40 -$1,722.86 $1,806.22 Difference is Rate for Education Facilities Projects $53,624.22 $34 $13,935.92 $522.95 $3,770.02 $1,324.04 -$216.64 -$1,552.58 $1,627.7711 Previous Previous Previous Previous Previous Previous Payments Based Previous Payments Made Payments Made Payments Made Payments Made Payments Made Payments Made 2007 Tax Year Percentage on Percentage Payments Made June 2009 May 2010 May 2011 May 2012 May 2013 May 2014 Difference Total Taxes Collected As of May 2015 $207,488.74 Total Value in the TIRZ as of today $16,043,332 Less the Tax Increment Base(1999)Value $7,259,820 45.2513% $93,891.40 Equals the Captured Appraised Value $8,783,512 54.7487% $113,597.34 $55,709.32 $43,582.89 $4,307.15 $7,908.10 $2,261.53 $1,106.90 -$2,985.90 Equals Taxes due the TIRZ per penny of Tax Rate ' $870.48 $428.53 $1,707.35 Times rate for General TIRZ Projects(.0086 per contract) $74,861.08 $27,693.65 $37,740.30 $2,838.43 Difference is Rate for Education Facilities Projects $38,736.26 $5,211.46 $$771.36 $729.45 -$1,967.72 $$582.15 $28,015.67 $5,842.59 $1,468.73 $2,696.63 $771.17 $377,45 -$1,018.18 $582.20 Previous Previous Previous Previous Previous Previous 2008 Tax Year Payments Based Payments Made Payments Made Payments Made Pa Percentage on Percentage June 2009 May 2010 May 2011 May2012ade Payments May 2013 ade Payments 201 Made Difference Total Taxes Collected As of May 2015 $972,585.30 Total Value in the TIRZ as of today $73,635,740 Less the Tax Increment Base(1999)Value $7,259,820 9.8591% $95,888.14 Equals the Captured Appraised Value $66,375,920• 90,1409% $876,697.16 Equals Taxes due the TIRZ per penny of Tax Rate $662,877.68 $189,261.06 $6,616.58 $19,369.98 $5,351.14 -$2,792.23 -$5,454.82 $8,084.35 .Times rate for General TIRZ Projects(.0086 per contract) Difference is Rate for Education Facilities Projects $569,026.08 $430,245.13 $122,841.15 $12,572.21 $3,473.19 -$1,812.31 -$3,540.49 $5,247.20 $307,671.08 $232,632.54 $66,419.92 $6,797.77 $1,877.95 -$979.92 -$1,914.33 $2,837.15 Previous Previous Previous Previous Previous 2009 Tax Year Payments Based Payments Made Payments Made Payments Made Payments Made Payments Made Total Taxes Collected As of May 2015 Percentage on Percentage May 2010 May 2011 May 2012 May 2013 Y $1,054,387.99 Y Y May 2014 Difference Total Value in the TIRZ as of today $79,893,473 Less the Tax Increment Base(1999)Value $7,259,820 9.0869% $95,810.92 Equals the Captured Appraised Value $72,633,653 90.9131% $958,577.07 $863,799,89 $114,912.09 Equals Taxes due the TIRZ per penny of Tax Rate $7,234.54 -$22,723.46 -$2,657.80 -$2 867.99 $8,114.34 Times rate for General TIRZ Projects(.0086 per contract) $622,170.78 Difference is Rate for Education Facilities Projects $336,406.29 $560,655.02 $74,584.45 -$14,748.81 -$1,725.06 -$1,861.49 $5,266.67 $303,144.87 $40,327.64 -$7,974.65 -$932.74 -$11006.50 $2,847.67 2010 Tax Year Payments Based Previous Previous Previous Previous i Total Taxes Collected As of May Payments Made Payments Made Payments Made Payments Made 2015 $1,034,251.84 Percentage on PercentageMay 2011 May 2012 May 2013 May 2014 Difference Total Value in the TIRZ as of today $78,454,992 Less the Tax Increment Base(1999)Value $7,259,820 9.2535% $95,704.33 I Equals the Captured Appraised Value $71,195,172 90.7465% 51547. $998, : Equals Taxes due the TIRZ per penny of Tax Rate $918,002.07 $7,452.81 $7,083.36 -$7,770.51 $11,872.45 $8,990.69 ) $6 Times rate for General TIRZ Projects(.0086 per contract I Difference is Rate for Education Facilities Projects 09,170.46 $595,835.30 $4,837.30 $329,377.05 -$5,043.50 $7,705.89 $5,835.47 $322,166.76 $2,615.52 -$2,727.01 $4,166.56 $3,155.22 Payments Based Previous Previous Previous Tota Tax Year Percentage on Percentage Payments Made Payments Made Payments Made i Total Taxes Collected As of May 2015 $1,000,442.49 May 2012 May 2013 May 2014 Difference Total Value in the TIRZ as of today $74,199,288 Less the Tax Increment Base(1999)Value $7,259,820 9.7842% $97,685.47 I Equals the Captured Appraised Value $66,939,468 90,2158% 02557. $902, Equals Taxes due the TIRZ per penny of Tax Rate $931,827.78 -$35,639.32 -$3,247.34 Times rate for General TIRZ Projects(.0088 per contract) $6,860.94 $9,615.90 I Difference is Rate for Education Facilities Projects $572,840.62 $591,418,37 $329,716.40 -$22,619.79 -$2,061.04 $6,103.08 $340,409.41 -$13,019.53 -$1,186.30 $3,512.82 2012 Tax Year Payments Based Previous Previous Percentage on Percentage Payments Made Payments Made i Total Taxes Collected As of May 2015 $1,029,085.88 May 2013 May 2014 Difference Total Value in the TIRZ as of today $77,644,265 Less the Tax Increment Base(1999)Value $7,259,820 9.3501% 1 Equals the Captured Appraised Value o $96,220.61 $70,384,445 90,6499/o $932,865.27 Equals Taxes due the TIRZ per penny of Tax Rate $6,884.61 $915,825.96 Times rate for General TIRZ Projects(.0086 per contract) $6,462.27 $10,577.04 I Difference is Rate for Education Facilities Projects $592,078.85 $340,788.42 ,$581,262.24 $4,101.80 $6,713.11 $334,563.73 $2,360.75 $3,863.94 2013 Tax Year Payments Based Previous Previous Total Taxes Collected As of May 2015 $1Percentage on Percentage Payments Made Payments Made Total Value in the TIRZ as of toda'. ,213,008,79 May 2013 May 2014 Difference Less the Tax Increment Base 1999 Value $91,651,822 0 Equals the Captured Appraised Value $7,259,820 7.9211/° $96,083.47 $84,392,002 92.0789/° $1,116,925.82 Equals Taxes due the TIRZ per penny of Tax Rate $8,397.93 $1,249,972.71 Times rate for General TIRZ Projects(,0086 per contract) ($133,047.39) Difference is Rate for Education Facilities Projects $722,222.38 $394,702.93 $808,253.03 ($86,030.65) $441,719.68 ($47,016.75) 2014 Tax Year Payments Based Previous Previous Total Taxes Collected As of May 2015 Percentage on Percentage Payments Made Payments Made Y $1,598,220.64 Total Value in the TIRZ as of today $112,374,575 May 2013 May 2014 Difference• Less the Tax Increment Base(1999)Value $7,259,820 6.4604% $103,251.06 Equals the Captured Appraised Value $105,114,755 93.5396% 494 Equals Taxes due the TIRZ per penny of Tax Rate $1,$10,969.58 ,310.14 $1,494,969.58 Times rate for General TIRZ Projects(.0086 per contract) $10 Difference is Rate for Education Facilities Projects $886,671.61 $608,297.97 $886,671.61 $608,297.97 Grand Total as of May 22,2015 General TIRZ Projects $1,407,985.14 Education Facilities Project Total $830,435.71` C C; �CiU f1S $577,549.44 $1,407,985,15 I McCALL .GIBSOIV SWEDLUND BARFOOT PLLC Curti ed Public Accountants 13100 Wortham Center Drive Suite 235 111 Congress Avenue Houston,Texas 77065-5610 Suite 400 (713)462-0341 Austin,Texas 78701 Fax(713)462-2708 (512)610-2209 E-Mail:mgsWingsb0c.com zvrvrv.ntgsbpllc.com February 24,2015 La Porte Redevelopment Authority c/o Ms. Susan Hill Hawes Hill Calderon,L.L.P. 9610 Long Point Road, Suite 150 Houston,Texas 77055 Client Number—537-00 Audit of La Porte Redevelopment Authority as of and for the year ended September 30,2014,including discussing the audit with the Board of Directors and testing for compliance with the Public Funds Investment Act. Total Billing $ 7,500.00 Less Interim Billing 5.500.00 Balance Due 1 We appreciate your business. Member of American Institute of Certified Public Accountants Texas Society of Certified Public Accountants McCALL GIBSON SWEDLUND BARFOOT PLLC Certified Public Accountants , 13100Wortham Center Drive Suite 235 111 Congress Avenue Houston,Texas 77065-5610 Suite 400 (713)462-0341 Austin,Texas 78701 Fax(713)462-2708 (512)610-2209 E Mair:mQsb0nugsbp11c.com wwm.ingsbnl[c.com April 10,2015 La Porte Redevelopment Authority c/o Ms. Susan Hill Hawes Hill Calderon,L.L.P. 9610 Long Point Road, Suite 150 ; Houston,Texas 77055 Client Number—537-00 , Preparation of Agreed-Upon Procedures Report dated January 21,2015, for Construction, Engineering,and Related Costs Reimbursable to Port Crossing Land,LP. Total Due 2 000.00 ' Member of American Institute of Certfued Public Accountants Texas Sociehj of Certified Public Accountants Hawes Hill Calderon LLP P.O.Box 22167 Houston TX 77227-2167 r . STATEMENT DATE TIRZ-La Porte# 1/La Porte Redevelopment Authority 7/24/2015 604 W.Fairmont Pkwy. LaPorte,TX 77571 AMOUNT REMITTED Page 1 DATE INVOICE NO. DESCRIPTION CHARGES PAYMENTS BALANCE ' 2/1/2015 43014942 Sale;City of La Porte $2,141.81 $2,141.81 4/6/2015 43014997 Sale;TIRZ-La Porte#1 $4,169.09 $4,169.09 6/11/2015 43015059 Sale;TIRZ-La Porte#1/La Porte $2,000.00 $2,000.00 Redevelopment Authority 7/9/2015 43015088 Sale;TIRZ-La Porte#1/La Porte $2,000.48 $2,000.48 Redevelopment Authority 7/24/2015 43015104 Sale;TIRZ-La Porte#1/La Porte $3,500.00 $3,500.00 Redevelopment Authority j 1 1 1 1 1 i 7/24/2015 Finance Charge $0.00 $0.00 I CURRENT 30 DAYS 90 DAYS 90+DAYS AMOUNT DUE $3,500.00 $2,000.48 $2,000.00 $6,310.90 $13,811.38 Hawes Hill Calderon LLP P.O.Box 22167 Houston TX 77227-2167 Invoice Bill To: TIRZ-La Porte#1 Invoice#: 43014942 604 W.Fairmont Pkwy. Date: 2/1/2015 1 LaPorte,TX 77571 Page: 1 DATE DESCRIPTION AMOUNT ' Project Management Services, February 2015 $2,000.00 2/25/2015 Board of Directors Meeting $1,500.00 Reimbursable expenses as follows: In house copies 826 copies @.15 each&14 Binders @$1.00 each $137.90 In house postage $3.91 1 1 1 1 Sales Tax: $0.00 , Total Amount: $3,641.81 Amount Applied: $0.00 Balance Due: $3,641.81 Terms: C.O.D. 'Hawes Hill Calderon LLP P.O.Box 22167 Houston TX 77227-2167 Invoice Bill To: TIRZ-La Porte# 1/La Porte Redevelopment Authority 604 W.Fairmont Pkwy. Invoice#: 430I4997 ' LaPorte,TX 77571 Date: 4/6/2015 1 Page: 1 ' DATE DESCRIPTION AMOUNT Professional consulting fee,March and April 2015,@$2,000 $4,000.00 Reimbursable expenses: Mileage,D.Hawes,per attachment $169.09 Sales Tax: $0.00 Total Amount: $4,169.09 Amount Applied: $0.00 . Balance Due: $4,169.09 ' Terms: C.O.D. Name:' '.Dauid'Hawes- Toa'a1:Reirnbur..semenf,Due: CIlent' _:LA'PORTE TII2t01. • .PerlQd':11%1%2014-3/31/20.15 12/10/2074 'Travel to board meeting _..., $0 0 $6-0 :� _,•:,_, s Travel to meetlhg frith>city $0 0 7 $ 0 56 _ $4� 44J $4144 _,. r el'to.b 74 '$ 0.575: 1,!21/205 T av oard;.r�eeting _..__ _ ... u. • $42,55 '� :$42 55 . ..... . ,. ...._,.._. ;r5 74 ! :$: 0.575^ 9 2015 a.. ,. f , Travel to:rneeting�w►t .'..r.. ,_„ $.42.5'5'. ,... .. :. �:. -/,...74 .i.$;� 0.5 75 „ - ... $0:00. •$0.00'. _.._._.:_...-.......r :.., .. r _ 00: r ... • r _ f }. :..:........ ..... .; 0:00 ? .$.0::00 $0 Co. •,; $0 00 _..._. _ . $0.00. is ;. 000 $0.00. :.... .. ........ .: i' _ , $0.00 0:0 0• gar N .,. r, ',,.. r.., < i '!Vic...... cf%rn•n • �;:<rs::., ..r. �Q .�_ �„296• �,:..':<K:-'. -=.,. .,<•�-.,, +>s.... ... ,.:�:p:s,r K P.•iv�Yr•.+iy--T,�Y:r� ..:l rr rr rr r rr r� rr rr �r rr rr rr r rr rr rri rr rr rr I Hawes Hill Calderon LLP P.O.Box 22167 Houston TX 77227-2167 Invoice Bill To: TIRZ-La Porte#1/La Porte Redevelopment Authority Invoice#: 43015059 604 W.Fairmont Pkwy. LaPorte,TX 77571 Date: 6/11/2015 Page: 1 DATE DESCRIPTION AMOUNT Professional consulting fee,May 2015 $2,000.00 1 I 1 r r Sales Tax: $0.00 Total Amount: $2,000.00 Amount Applied: $0.00 Balance Due: $2,000.00 Terms: C.O.D. a H wes Hill Calderon LLP P.O.Box 22167 Houston TX 77227-2167 Invoice Bill To: TIRZ-La Porte#1/La Porte Redevelopment Authority Invoice#: 43015088 604 W.Fairmont Pkwy. Date: 7/9/2015 j LaPorte,TX 77571 Page: I DATE DESCRIPTION AMOUNT ' Professional consulting and administration fee,June 2015 $2,000.00 In-house postage,photocopies,binding,etc. $0.48 j 1 1 Sales Tax: $0.00 Total Amount: $2,000.48 Amount Applied: $0.00 Balance Due: $2,000.48 Terms: C.O.D. 1 f: LA PORTE RDA/TIRZ #1 In-house Postage, Photocopies, Binding, etc. 1 Postage Date Amount 4//20/2015 $ 0.48 Total $ 0.48 Photocopies @$0.15 Date Pages Amount Total $ Color Photocopies @$0.50 1 $ _ Total $ Binding sets @$1.00 Date Sets Amount 0 $ - Total $ - Total,all Items ^ Postage $ 0:48 'Photocopies Color.Photocopies $ - Bnd,ing-:sets:. $ $ 0:48 Hawes Hill Calderon LLP P.O.Box 22167 Houston TX 77227-2167 Invoice Bill To: TIRZ-La Porte# 1/La Porte Redevelopment Authority Invoice#: 43015104 604 W.Fairmont Pkwy. ' LaPorte,TX 77571 Date: 7/24/2015 Page: 1 , DATE DESCRIPTION AMOUNT , Professional consulting fee,July 2015 $2,000.00 1 Board of Directors meeting,July 29,2015 $1,500.00 i 1 1 1 1 1 1 1 Sales Tax: $0.00 1 Total Amount: $3,500.00 Amount Applied: $0.00 , Balance Due: $3,500.00 Terms: C.O.D. , I NOTICE OF MEETING OF LA PORTE TAX INCREMENT REINVESTMENT ZONE Notice is hereby given of the meeting of the La Porte Tag Increment Reinvestment Zone to be held 1 Wednesday, July 29, 2015 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 January 21,2015; ' 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 Estoppel Certificate and Consent to Assignment to and for the benefit of Liberty Property Limited Partnership, a Pennsylvania limited partnership (Purchaser), and Land Services Title of Texas, as Agent for Fidelity National Title Insurance Company; ' b. Consider Second Amendment to Development Agreement by and between Tax Increment Reinvestment Zone Number One, City of La Porte, Texas,La Porte Redevelopment Authority, a Texas non-profit corporation, and Liberty Property Limited Partnership, a Pennsylvania limited partnership; c. Consider Agreed Upon Procedures Proposal from McCall Gibson Swedlund Barfoot PLLC; d. Consider proposal from McCall Gibson Swedlund Barfoot PLLC for FY 2015 Audit Services; 1 e. Consider Tax Year 2014 Developer Increment Disbursements; f. Approve FY2015-2016 Budget. g. Consider approval or other action with regard to authority invoices; th. Receive updates from the city,developers and staff with regard to development within the Zone; i. Board member comments with regard to matters appearing on agenda and inquiry of staff regarding specific factual information or existing policy; j. Adjournment. tIn 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. 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 MINUTES OF THE MEETING OF THE LA PORTE TAX INCREMENT REINVESTMENT ZONE CITY OF LA PORTE,TEXAS BOARD OF DIRECTORS January 21,2015 DETERMINE QUORUM; 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, January 21, 2015, 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 Meza and Graham, thus constituting a quorum. Also present were David Hawes, Hawes Hill Calderon, LLP; Scott Livingston, La Porte EDC Director; Virginia Blake, McCall Gibson Swedlund Barfoot PLLC; and Steven Robinson, Port Crossing. ' Chairman Pfeiffer called the meeting to order at 6:55 p.m. CONSIDER APPROVAL OF THE MINUTES OF BOARD OF DIRECTORS MEETING HELD ON DECEMBER 10,2014. Upon a motion duly made by Director Martin, and being seconded by Director Leopard, the Board voted to approve the Minutes of the December 10, 204, Board meeting, as presented. Directors Porter, Turnquist and Pfeiffer 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. Approve Report Applying Agreed-Upon Procedures to Construction, Engineering and Related Costs reimbursable to La Porte Crossing, LP; b. Approve Fiscal Year 2014 Annual Financial Report ' 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 Pool, and being seconded by Director Turnquist, the Board voted unanimously to approve the TIRZ items in the same form and manner as was approved at the previous Redevelopment Authority Board meeting. ADJOURNMENT. There being no further business to come before the Board, Chairman Pfeiffer adjourned the meeting at 6:56 p.m. Secretary r 2