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HomeMy WebLinkAbout02-08-17 LPRDA/TIRZAgendas and Agenda Materials Meetings � o . Boards NOTICE OF JOINT MEETING OF LA PORTE REDEVELOPMENT AUTHORITY and LA PORTE TAX INCREMENT REINVESTMENT ZONE Notice is hereby given of the ,point meeting of the La Porte RedeveIopment Authority and La Porte Tax Increment Reinvestment Zone to be held Wednesday, February 8, 2017, at 6:30 p.m. in the City Manager's Conference Room of City Hall, 604 West Fairmont Parkway, La Porte, Texas, for considering the fallowing agenda items: 1. Call to order; 2. Approve minutes of the joint La Porte Redevelopment Authority and La Porte Tax Increment Reinvestment Zone meeting held on August 18, 2016. 3. Receive and consider FY 2016 Financial Statement and Audit of the La Porte Redevelopment Authority. 4. Consider approval or other action regarding authority invoices; 5. Receive updates from the city, developers and staff about development within the Zone; 6. Board member comments; a. Matters appearing on agenda; b. Inquiry of staff regarding specific factual information or existing policy 7. 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 281-470-5014 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 LA PORTE REDEVELOPMENT AUTHORITY, CITY OF LA PORTS, TEXAS TO: La Porte Redevelopment Authority Board of Directors FROM: Executive Director SUBJECT: Agenda Item Materials 1 Approve minutes of the joint La Porte Redevelopment Authority and La Porte Tax Increment Reinvestment Zone meeting held on August 18, 2016. LA PORTE REDEVELOPMENT AUTHORITY do Hawes Hill Calder6n LLP P.O. Box 22167 Houston TX 77227-2167 713-595-1200 or FAX 281-888-63 [4 MINUTES OF THE JOINT MEETING OF THE LA PORTE REDEVELOPMENT AUTHORITY and LA PORTE TAX INCREMENT REINVESTMENT ZONE BOARD OF DIRECTORS August 24, 2016 DETERMINE QUORUM; CALL TO ORDER. The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, and La Porte Tax Increment Reinvestment Zone, held a regular joint meeting, open to the public, on Wednesday, August 24, 2016, 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, Chairman Position 5 A Meza Position 6 Chester Pool, Vice -Chair Position 7 Lloyd Graham Position 8 Vacant Position 9 and all of the above were present, with the exception of Directors Martin, Meza and Graham, thus constituting a quorum. Also present were David Hawes, Hawes Hill Calderon, LLP; Ben Morse, Andrews Kurth; Traci Leach, La Porte Assistant City Manager; David C. Miles, Western Spherical Developers, LLC; and Virginia Blake, McCall Gibson Swedlund Barfoot PLLC. The meeting was called to order at 7:08 p.m. APPROVE MINUTES OF THE JOINT LA PORTE REDEVELOPMENT AUTHORITY AND LA PORTE TAX INCREMENT REINVESTMENT ZONE MEETING HELD ON MAY 25, 2016. Upon a motion duly made by Director Antone, and being seconded by Director Turnquist, the Board voted unanimously to approve the Minutes of the May 25, 2016, Board meeting, as presented. CONSIDER PROPOSAL FROM McCALL GIBSON SWEDLUND BARFOOT PLLC TO PERFORM FY2016 AUDIT. Upon a motion duly made by Director Porter, and being seconded by Director Leopard, the Board voted unanimously to approve the proposal from McCall Gibson Swedlund Barfoot PLLC to perform the FY2016 audit. CONSIDER FY2016-2017 BUDGET. Handouts were provided of the proposed FY2016-2017 budget, a copy is attached as Exhibit A. Mr. Hawes reviewed the proposed budget and answered questions. Upon a motion duly made by Director Porter, and being seconded by Director Turnquist, the Board voted unanimously to approve the FY2016-2017 Budget. CONSIDER DEVELOPMENT DISBURSEMENTS. Handouts were provided of the Agreed -Upon Procedures Report for construction, engineering and related costs reimbursable to Beazer Homes Texas LP and Senior Associates Inc., a copy is attached as Exhibit B; and a spreadsheet titled La Porte Developer Reimbursements -- Tax Year 2015 Values, dated 8/24/2016, a copy is attached as Exhibit C. Ms. Blake presented the Agreed -Upon Procedures Reimbursement Report and answered questions. Mr. Hawes went over the developer reimbursements and answered questions. Upon a motion duly made by Director Turnquist, and being seconded by Director Leopard, the Board voted unanimously to approve the developer disbursements (1) Retreat at Bay Forest in the amount of $46,635.50; (2) Beazer Homes in the amount of $17,940.04; (3) Senior Associates in the amount of $5,767.87; (4) Port Crossing -Liberty Property Limited Partnership in the amount of $1,454,627.70; and (5) the City Trunk Line payment in the amount of $311,858.45. Upon a motion duly made by Director Leopard, and being seconded by Director Turnquist, the Board voted unanimously to approve the Agreed - Upon Procedures Report for construction, engineering and related costs reimbursable to Beazer Homes Texas LP and Senior Associates, Inc. as presented. CONSIDER DEVELOPMENT AGREEMENT BY AND AMONG THE CITY OF LA PORTE, TEXAS, REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, TEXAS, LA PORTE REDEVELOPMENT AUTHORITY AND WESTERN SPHERICAL DEVELOPERS, LLC OR AN AFFILIATE THEREOF. (Bayforest Ranch, Ltd.) The Board reviewed the Development Agreement with Bayforest Ranch, Ltd., included in the Board agenda materials. Mr. Hawes noted the agreement was going to be amended to be between the Redevelopment Authority, Reinvestment Zone and Bayforest Ranch, Ltd. and the City would be removed from the agreement. After review and discussion, and motion was made by Director Porter, and seconded by Director Antone, and the Board voted unanimously to approve the Development Agreement among the Reinvestment Zone Number One, City of La Porte, Texas, La Porte Redevelopment Authority and Bayforest Ranch, Ltd., as amended removing the City of La Porte from the agreement. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO AUTHORITY INVOICES. Mr. Hawes presented the cash flow report and reviewed the invoices included in the Board agenda materials. Upon a motion duly made by Director Turnquist, and being seconded by Director Leopard, the Board voted unanimously to accept the cash flow report and approved payment of invoices, as presented. RECEIVE UPDATES FROM THE CITY, DEVELOPERS AND STAFF WITH REGARD TO DEVELOPMENT WITHIN THE ZONE. No action from the Board was required. BOARD MEMBER COMMENTS: a. Matters appearing on agenda; and 2 1 P a g e b. inquiry of staff regarding specific factual information or existing policy. No action from the Board was required. ADJOURNMENT. There being no further business to come before the Board, Vice -Chair Pool adjourned the meeting at 7:38 p.m. Secretary List of Exhibits: A. Proposed FY2017-2017 Budget B. Agreed -Upon Procedures Reimbursement Report for Beazer Homes and Senior Associates dated August 24, 2016 C. Spreadsheet— LaPorte Developer Reimbursements —Tax Year 2015 values 3 1 P a g e 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 Receive and consider FY 2016 Financial Statement and Audit of the La Porte Redevelopment Authority. LA PORTE REDEVELOPMENr AuTnoRrry' do Hawes Hill Calder& LLP P.O. Box 22167 Houston TX 77227-2167 713-595-1200 or FAX 281-888-6314 LA PORTE REDEVELOPMENT AUTHORITY CITY OF LA PORTE, TEXAS ANNUAL FINANCIAL REPORT SEPTEMBER 30, 2016 McCALL GIBSON SWEDLUND BARFOOT PLLC Certified Public Accountants TABLE OF CONTENTS PAGE INDEPENDENT AUDITOR'S REPORT 1-2 MANAGEMENT'S DISCUSSION AND ANALYSIS 3-7 BASIC FINANCIAL STATEMENTS STATEMENT OF NET POSITION AND GOVERNMENTAL FUNDS BALANCE SHEET 8 RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION 4 STATEMENT OF ACTIVITIES AND GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 10 RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES I I NOTES TO THE FINANCIAL STATEMENTS 12-20 REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -BUDGET AND ACTUAL -GENERAL FUND 22 OTHER SUPPLEMENTARY INFORMATION BOARD MEMBERS AND ZONE ADMINISTRATOR 24 McCALL GIBSON SWLDLUND BARFOOT .PLLC Certified Public Accountants 13100Wortham Center Drive Suite 235 111 Congress Avenue Houston, Texas 77065-5610 Suite 400 (713) 462-0341 Austin, Texas 78707 Fax (713) 462-2708 (512) 670-2209 E-Mail:Ine511 nlg513Ul1c. C01n unuumligshol C.0011! INDEPENDENT AUDITOR'S REPORT Board of Directors La Porte Redevelopment Authority City of La Porte, Texas We have audited the accompanying financial statements of the governmental activities and major fund of p Authority ( "Authority"), Ciiy of„La Porte. Texas, La Porte Redevelopment Authors the Authors a component unit of the as of and for the year ended September 30, 2016, and the related notes to the financial statements, which collectively comprise the Authority's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Authority's internal control. Accordingly, we express no such opinion. 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Member of American Institute of Certified Public Accountants Texas Society of Certified Public Accountants Board of Directors La Porte Redevelopment Authority Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and major fund of the Authority as of September 30, 2016, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis and Schedule of Revenues, Expenditures, and Changes in Fund Balance — Budget and Actual --- General Fund are presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, 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. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about 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 do 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. Other Information Our audit was conducted for the purpose of farming opinions on the financial statements that collectively comprise the Authority's basic financial statements. The other supplementary information is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The supplementary information, excluding that portion marked "Unaudited" on which we express no opinion or provide any assurance, has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. McCall Gibson Swedlund Barfoot PLLC Certified Public Accountants Houston, Texas January 12017 -2- LA PORTE REDEVELOPMENT AUTHORITY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Management's discussion and analysis of La Porte Redevelopment Authority's (the "Authority") financial performance provides an overview of the Authority's financial activities for the fiscal year ended September 30, 2016. Please read it in conjunction with the Authority's financial statements. FINANCIAL HIGHLIGHTS The Authority's liabilities exceeded its assets by $6,870,349 for the year ended September 30, 2016. This compares to the previous year, when liabilities exceeded assets by $6,789,320. The total net position deficit of $6,870,349 results primarily from the Authority having recorded an amount due to Developers of $7,410,577 for the facilities the Developers constructed and conveyed to the City. The Authority anticipates that with continued development in the area tax increment revenues will be sufficient to cover operating costs, and to reimburse the Developer. The Authority's obligations to the Developer are contingent upon the availability of tax increment for such as described in Note 4. The Authority's governmental funds reported a total ending fund balance of $540,228 this year. This compares to the prior year fund balance $540,282, showing a decrease of $54 during the current fiscal year. USING THIS ANNUAL REPORT This annual report consists of a series of financial statements. The basic financial statements include: (1) combined fund financial statements and government -wide financial statements and (2) notes to the financial statements. The combined fund financial statements and government - wide financial statements combine both: (1) the Statement of Net Position and Governmental Funds Balance Sheet and (2) the Statement of Activities and Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances. This report also includes other supplementary information in addition to the basic financial statements. GOVERNMENT -WIDE FINANCIAL STATEMENTS The Authority's annual report includes two financial statements combining the government - wide financial statements and the fund financial statements. The government -wide portion of these statements provides both long-term and short-term information about the Authority's overall status. Financial reporting at this level uses a perspective similar to that found in the private sector with its basis in full accrual accounting and elimination or reclassification of internal activities. LA PORTE REDEVELOPMENT AUTHORITY MANAGEMENT'S DISCUSSION .AND ANALYSIS FOR THE YEAR ENDED SEPTEMBER 30, 20I6 GOVERNMENT -'WIDE FINANCIAL STATEMENTS (Continued) The first of the government -wide statements is the Statement of Net Position. The Statement of Net Position is the Authority -wide statement of its financial position presenting information that includes all of the Authority's assets and liabilities, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the Authority as a whole is improving or deteriorating. Evaluation of the overall financial health of the Authority would extend to other non -financial factors. The government -wide portion of the Statement of Activities reports how the Authority's net position changed during the current fiscal year. All current year revenues and expenses are included regardless of when cash is received or paid. FUND FINANCIAL STATEMENTS The combined statements also include fund financial statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Authority has one governmental fund type. The General Fund accounts for resources not accounted for in another fund, tax increment revenues, costs and general expenditures. Governmental funds are reported in each of the financial statements. The focus in the fund statements provides a distinctive view of the Authority's governmental funds. These statements report short-term fiscal accountability focusing on the use of spendable resources and balances of spendable resources available at the end of the year. They are useful in evaluating annual financing requirements of the Authority and the commitment of spendable resources for the near -term. Since the government wide focus includes the long-term view, comparisons between these two perspectives may provide insight into the long-term impact of short-term financing decisions. The adjustments columns, the Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position and the Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities explain the differences between the two presentations and assist in understanding the differences between these two perspectives. -4- LA PORTE REDEVELOPMENT AUTHORITY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE YEAR ENDED SEPTEMBER 30, 2016 NOTES TO THE FINANCIAL STATEMENTS The accompanying notes to the financial statements provide information essential to a full understanding of the government -wide and fund financial statements. GOVERNMENT -WIDE FINANCIAL ANALYSIS Net position may serve over time as useful indicator of the Authority's financial position. In the case of the Authority, liabilities exceeded assets by $6,870,349 as of September 30, 2016. The following table provides a summary of the Authority's net position as of September 30, 2016, and September 30, 2015: Summary of Changes in the Statement of Net Position Change Positive 2016 2015 (Negative) Current and Other Assets $ 544,563 $ 543,282 $ 1,281 Current Liabilities $ 4,335 $ 3,000 $ (1,335) Long -Term Liabilities 538,735 538,735 Due to Developer 7,410,577 6,786,852 (623,725) Accrued Interest 4,015 4,015 Total Liabilities $ 7,414,912 $ 7,332,602 $ (82,310) Net Position: Unrestricted $ (6,870,349) $ (0,789,320) $ (81,029) Total Net Position $ (6,870,349} $ (6,789,320) $ (81,029) -5- LA PORTE REDEVELOPMENT AUTHORITY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE YEAR ENDED SEPTEMBER 30, 2016 GOVERNMENT -WIDE FINANCIAL ANALYSIS (Continued) The following table provides a summary of the Authority's operations for the fiscal years ending September 30, 2016, and September 30, 2015: Summary of Changes in the Statement of Activities Change Positive 2016 2015 (Negative) Revenues: Tax Increment Revenues $ 2,216,993 $ 1,848,694 $ 368,299 Interest Revenues 419 351 68 Total Revenues $ 2,217,412 $ 1,849,045 $ 368,367 Expenses for Services 2,298,441 399,959 (1,898,482) Change in Net Position $ (81,029) $ 1,449,086 $ (1,530,115) Net Position, Beginning of Year (6,789,320) (8,238,406) 1,449,086 Net Position, End of Year $ (6,870,349) $ 6,789,320) $ (81,029) FINANCIAL ANALYSIS OF THE AUTHORITY'S GOVERNMENTAL FUNDS The Authority's fund balance as of September 30, 2016, was $540,228, a decrease of $54 from the prior year. The General Fund fund balance decreased by $54 due to tax increment revenue being less than operating costs, capital outlay and certain costs to fund the Authority's debt obligations. -6- LA PORTE REDEVELOPMENT AUTHORITY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE YEAR ENDED SEPTEMBER 30, 20I6 GENERAL FUND BUDGETARY HIGHLIGHTS The Board of Directors did not amend the budget for the fiscal year ending September 30, 2016. Actual revenues were $28I,919 less than budgeted and actual expenditures were $297,490 less than budgeted. See the budget to actual comparison. CAPITAL ASSETS When capital projects are completed, the costs of the projects are recorded as a transfer to the City since the maintenance and operations of the facilities will not be the responsibility of the Authority. During the current fiscal year, $1,524,972 was paid to the Developers for projects, including interest. See Note 4 for additional information. LONG-TERM DEBT ACTIVITY As of September 30, 2016, the Authority had no bond debt payable. The Authority has recorded a long-term payable to Developers in the amount of $7,410,577, see Note 4. CONTACTING THE AUTHORITY'S MANAGEMENT This financial report is designed to provide a .general overview of the Authority's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to La Porte Redevelopment Authority, c/o David Hawes, P. O. Box 22167, Houston, TX 77227. -7- LA PORTE REDEVELOPMENT AUTHORITY STATEMENT OF NET POSITION AND GOVERNMENTAL FUNDS BALANCE SHEET SEPTEMBER 30, 2016 ASSETS Cash, Note 3 TOTAL ASSETS LIABILITIES Accounts Payable Due to Developer, Note 4 TOTAL LIABILITIES FUND BALANCE Unassigned TOTAL FUND BALANCE TOTAL LIABILITIES AND FUND BALANCE NET POSITION Unrestricted TOTAL NET POSITION General Fund $ 544,563 $ 544,563 $ 4,335 $ 4,335 $ 540,228 $ 540,228 $ 544,563 The accompanying notes to the financial statements are an integral part of this report. -9- Adjustments 7,4.10,577 $ 7,410,577 $ (540,228) $ (540,228) $ (6,870,349) $ (6,870,349) Statement of Net Position $ 544,563 $ 544,563 $ 4,335 7,410,577 $ 7,414,912 $ (6,870,349) $ (6,870,349) LA PORTE REDEVELOPMENT AUTHORITY RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO STATEMENT OF NET POSITION SEPTEMBER 30, 2016 Total Fund Balance — Governmental Fund $ 540,228 Amounts reported for governmental activities in the Statement of Net Position are different because: The long-term obligation to the Developer is not recorded in the fund financial statement but is a liability to the Developer in the government-wide.entity. (7,410,577) Total Net Position --- Governmental Activities $ (6,870,349) The accompanying notes to the financial statements are an integral part of this report. -9- LA PORTE REDEVELOPMENT AUTHORITY STATEMENT OF ACTIVITIES AND GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED SEPTEMBER 30, 2016 GENERAL FUND REVENUES Tax Increment Revenue (Net of Adminstrative Costs) $ 2,216,993 Interest Revenues 419 TOTAL REVENUES $ 2,217,412 EXPENDITUREWEXPENSES Service Operations: Contracted Services $ 96,649 Professional Services 33,948 Other 39 Debt Service: Interest Expense, City of La Porte, Note 8 23,123 Note Payment - City of La Porte, Note 8 538,735 Developer Interest, Note 4 268,438 Developer Principal, Note 4 1,256,534 TOTAL EXPENDITURESIEXPENSES $ 2,217,466 NET CHANGE IN FUND BALANCE $ (54) CHANGE IN NET POSITION FUND BALANCE/NET POSITION - OCTOBER 1, 2015 FUND BALANCE/NET POSITION - SEPTEMBER 30, 2016 ADJUSTMENTS (4,015) (539,735) 30,386 593,339 $ 80,975 $ 54 (81,029) STATEMENT OF ACITIVITIES $ 2,216,993 419 $ 2,217,412 $ 96,649 33,948 39 19,108 298,824 1,849,873 $ 2,298,441 (81,029) 540,282 (7,329,602) (6,789,320) $ 540,228 $ (7,410,577) $ (6,870,349) The accompanying notes to the financial statements are an integral part of this report. - 10- LA PORTE REDEVELOPMENT AUTHORITY RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2016 Net Change in Fund Balance — Governmental Fund Amounts reported for governmental activities in the Statement of Activities are different because: $ (54) Governmental funds report interest expenditures as expenditures in the year paid. However, in the Statement of Activities, interest is accrued on notes through fiscal year end. 4,015 Governmental funds report principal payments as expenditures. However, in the Statement of Net Position, principal payments are reported as decreases in liabilities, and the Statement of Activities is not affected. 538,735 Governmental funds report additional Developer principal due as increases. However, in the Statement of Net Position, additional principal is reported as an increase in liabilities, and the Statement of Activities is not affected. (593,339) In the Statement of Activities, the cost of interest expense is adjusted to the amount of the current period accrued expense. f 30,386) Change in Net Position — Governmental Activities The accompanying notes to the financial statements are an integral part of this report. LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 1. CREATION OF CORPORATION The City of La Porte, Texas (the "City") authorized the creation of the La Porte Redevelopment Authority (the "Authority") by the Resolution No. 2000-19 passed on December 11, 2000. The Authority was created and organized as a local government corporation pursuant to provisions of Chapter 394 of the Texas Local Government Code. The Authority is organized as a public non- profit corporation for the purpose of aiding, assisting, and acting on behalf of the City in the performance of its governmental function to promote the common good and general welfare of the Tax Increment Reinvestment Zone (the "Zone") and neighboring areas; to promote, develop, encourage and maintain housing, educational facilities, employment, commerce and economic development in the City. The Authority receives incremental tax revenues on developed property. The Authority has participation agreements with the City of La Porte, La Porte Independent School District and Harris County to receive certain property tax increments. The Authority may issue bonds with consent of City Council. The Authority is managed by a Board of Directors consisting of nine members who are appointed by the Mayor with the approval of City Council. NOTE 2. SIGNIFICANT ACCOUNTING POLICIES The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America as promulgated by the Governmental Accounting Standards Board ("GASB"). GASB has established the criteria for determining whether or not a given entity is a component unit. The criteria are: (1) is the potential component unit a legally separate entity, (2) does the primary government appoint a voting majority of the potential component unit's board, (3) is the primary government able to impose its will on the potential component unit, (4) is there a financial benefit or burden relationship. The Authority was created as an instrumentality of the City. The Authority does meet the criteria for inclusion as a component unit of the City. Copies of the financial statements for the City may be obtained from the City Secretary's office. Financial Statement Presentation These financial statements have been prepared in accordance with GASB Codification of Governmental Accounting and Financial Reporting Standards Part II, Financial Reporting. GASB Codification sets forth standards for external financial reporting for all state and local government entities, which include a requirement for a Statement of Net Position and a Statement of Activities. It requires the classification of net position into three components: Net Investment in Capital Assets; Restricted; and Unrestricted. These classifications are defined as follows: -12- LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) Financial Statement Presentation (Continued) Net Investment in Capital Assets — This component of net assets consists of capital assets, including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction, or improvements of those assets. • Restricted Net Position — This component of net position consists of constraints placed on the use of assets through external constraints imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulation of other governments or constraints imposed by law through constitutional provisions or enabling legislation. • Unrestricted Net Position — This component of net position consists of assets that do not meet the definition of Restricted or Net Investment in Capital Assets. When both restricted and unrestricted resources are available for use, generally it is the Authority's policy to use restricted resources first. Government -Wide Financial Statements The Statement of Net Position and the Statement of Activities display information about the Authority as a whole. The Authority's Statement of Net Position and Statement of Activities are combined with the governmental fund financial statements. The Authority is viewed as a special purpose government and has the option of combining these financial statements. The Statement of Net Position is reported by adjusting the governmental fund types to report on the full accrual basis, economic resource basis, which recognizes all long-term assets and receivables as well as long-term debt and obligations. Any amounts recorded due to and due from other funds are eliminated in the Statement of Net Position. The Statement of Activities is reported by adjusting the governmental fund types to report only items related to current year revenues and expenditures. Items such as capital outlay are allocated aver .their estimated useful lives as depreciation expense. Internal activities between governmental funds, if any, are eliminated by adjustment to obtain net total revenue and expense in the government -wide Statement of Activities. Fund Financial Statements As discussed above, the Authority's fund financial statements are combined with the government -wide statements. The fund financial statements include a Balance Sheet and Statement of Revenues, Expenditures and Changes in Fund Balances. -13- LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) Governmental Funds The Authority has one major governmental fund. General Fund --- To account for all resources not required to be accounted for in another fund. Basis ofAccountin The Authority uses the modified accrual basis of accounting for governmental fund types. The modified accrual basis of accounting recognizes revenues when both "measurable and available." Measurable means the amount can be determined. Available means collectable within the current period or soon enough thereafter to pay current liabilities. The Authority considers revenues reported in the governmental funds to be available if they are collectable within sixty (60) days after year-end_ Also, under the modified accrual basis of accounting, expenditures are recorded when the related fund liability is incurred, except for principal and interest on long-term debt, which are recognized as expenditures when payment is due. Capital Assets Capital assets are transferred to the City upon completion. Budgeting In compliance with the governmental accounting principles, the Authority's board members should annually adopt an unappropriated budget for the General Fund. During the current fiscal year, the Authority did not amend the budget. Measurement Focus Measurement focus is a term used to describe which transactions are recognized within the various financial statements. In the government -wide Statement of Net Position and Statement of Activities, the governmental activities are reported using the economic resources measurement focus. The accounting objectives of this measurement focus are the determination of operating income, changes in net position, financial position, and cash flows. All assets and liabilities associated with the activities are reported, regardless of the timing of related cash flows. Fund equity is classified as net position. -14- LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) Measurement Focus (Continued) Governmental fund types are accounted for on a spending or financial flow measurement focus. Accordingly, only current assets and current liabilities are included on the balance sheet, and the reported fund balances provide an indication of available spendable or appropriable, resources. Operating statements of governmental fund types report increases and decreases in available spendable resources. Fund Balances GASB Statement No. 54, Fund Balance Reporting and Governmental Fund -type Definitions, requires the classification of fund balances in governmental funds using the following hierarchy: Nonspendahle: amounts that cannot be spent either because they are in nonspendable form or because they are legally or contractually required to be maintained intact. The Authority does not have any nonspendable fund balances. Restricted: amounts that can be spent only for specific purposes because of constitutional provisions, or enabling legislation, or because of constraints that are imposed externally. The Authority does not have any restricted fund balances. Committed. amounts that can be spent only for purposes determined by a formal action of the Board of Directors. The Board is the highest level of decision -malting authority for the Authority. This action must be made no later than the end of the fiscal year. Commitments may be established, modified, or rescinded only through ordinances or resolutions approved by the Board. The Authority does not have any committed fund balances. Assigned: amounts that do not meet the criteria to be classified as restricted or committed, but that are intended to be used for specific purposes. The Authority has not adopted a formal policy regarding the assignment of fund balances. The Authority does not have any assigned fund balances. Unassigned: all other spendable amounts in the General Fund. When expenditures are incurred for which restricted, committed, assigned or unassigned fund balances are available, the Authority considers amounts to have been spent first out of restricted funds, then committed funds, then assigned funds, and finally unassigned funds. -15- LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates. NOTE 3. DEPOSITS AND INVESTMENTS Deposits Custodial credit risk is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover deposits or will not be able to recover collateral securities that are in the possession of an outside party. The Authority's deposit policy for custodial credit risk requires compliance with the provisions of Texas statutes. Texas statutes require that any cash balance in any fund shall, to the extent not insured by the Federal Deposit Insurance Corporation or its successor, be continuously secured by a valid pledge to the Authority of securities eligible under the laws of Texas to secure the funds of the Authority, having an aggregate market value, including accrued interest, at all times equal to the uninsured cash balance in the fund to which such securities are pledged. At the fiscal year end, the carrying amount of the Authority's deposits was $544,563 and the bank balance was the same. Of the bank balance, $250,000 was covered by federal depository insurance and the balance was covered by collateral pledged in the name of the Authority and held in a third party depository. The carrying values of the deposits are included in the Governmental Funds Balance Sheet and the Statement of Net Position at September 30, 2016, as listed below: GENERAL FUND $ 544,E - lb- LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 3. DEPOSITS AND INVESTMENTS (Continued) Investments Under Texas statute, the Authority is required to invest its funds under written investment policies that primarily emphasize safety of principal and liquidity and that address investment diversification, yield, maturity, and the quality and capability of investment management, and all Authority funds must be invested in accordance with the following investment objectives: understanding the suitability of the investment to the Authority's financial requirements, first; preservation and safety of principal, second; liquidity, third; marketability of the investments if the need arises to liquidate the investment before maturity, fourth; diversification of the investment portfolio, fifth; and yield, sixth. Authority's investments must be made "with judgment and care, under prevailing circumstances, that a person of prudence, discretion, and intelligence would exercise in the management of the person's own affairs; not for speculation, but for investment, considering the probable safety of capital and the probable income to be derived." No person may invest Authority funds without express written .authority from the Board of Directors. Texas statutes include specifications for and Iimitations applicable to the Authority and its authority to purchase investments as defined in the Public Funds Investment Act. Authorized investments are summarized as follows: (1) obligations of the United States or its agencies and instrumentalities, (2) direct obligations of the State of Texas or its agencies and instrumentalities, (3) certain collateralized mortgage obligations, (4) other obligations, the principal of and interest on which are unconditionally guaranteed or insured by the State of Texas or the United States or its agencies and instrumentalities, including obligations that are fully guaranteed or insured by the Federal Deposit Insurance Corporation or by the explicit full faith and credit of the United States, (5) certain A rated or higher obligations of states, agencies, counties, cities, and other political subdivisions of any state, (6) bonds insured, assumed or guaranteed by the State of Israel, (7) insured or collateralized certificates of deposit, (8) certain fully collateralized repurchase agreements secured by delivery, (9) certain bankers' acceptances with limitations, (10) commercial paper rated A -I or P-I or higher and a maturity of 270 days or less, (11) no- load money market mutual funds and no-load mutual funds with limitations, (12) certain guaranteed investment contracts (13) certain qualified governmental investment pools and (14) a qualified securities lending program. At.September 30, 2016, the Authority held no investments. -17- LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 4. DUE TO DEVELOPERS The Redevelopment Authority is a party to several agreements with Developers who own property in the La Porte Tax Increment Reinvestment Zone No. 1. The Authority is obligated to repay the Developers for public improvements made on the property up to the amount of incremental tax value gained. The Authority has entered into agreements with the following Developers: Port Crossing Land, LP; 65 La Porte, Ltd.; and Retreat at Bay Forest, LP. Port Crossing Land, LP has completed the public improvements detailed in the agreement with the Authority, and assigned their receivable amount to Liberty Property Limited Partnership in 2015. Port Crossing/Liberty's reimbursable expenditures totaled $12,096,488 including interest at May 27, 2009. In the current fiscal year, the Developer was reimbursed $1,454,628. To date, reimbursements in the amount of $8,939,782 have been made to Port Crossing/Liberty for incremental tax value gained. Interest was calculated, and payments were applied to interest first, then principal. The amount due Liberty Property Limited.Partnership as of September 30, 2016, is calculated as follows: Balance Due Developer at 9/30/2014 Fiscal Year 20I5 Interest Fiscal Year 20I5 Payment Balance Due Developer at 9/30/2015 Fiscal Year 2016 Interest Fiscal Year 2016 Payment Balance Due Developer at 9/30/2016 Principal $ 7,495,141 901 564 $ 6,593,577 Interest Total Due $ 45,382 $ 7,540,523 237,280 (246,2621 $ 36,400 237,280 (1,147126} $ 6,629,977 223,817 223,817 (1,209,898) (244,730) (1,454 628) 5,383.679 $ 15.487 &L-3911-66 Retreat at Bay Forest, LP's reimbursable expenditures totaled $224,670, including interest of $36,885 for the pilot channel and excavation costs at November 20, 2013. No additional interest will be due under the agreement. During the current fiscal year, a reimbursement of $46,636 was applied to principal. The amount due as of September 30, 2016, is calculated as follows: Principal Interest Total Due Balance Due Developer at 9/30/2014 $ I74,670 $ 0 $ 174,670 Fiscal Year 2015 Payment (17,795) (17 7951 Balance Due Developer at 9/30/2015 $ 156,875 $ 0 S 156,875 Fiscal Year 2016 Payment (46,636} „ (46,636) Balance Due Developer at 9/30/2016 $ 110.239 __ 0 $ 110,239 -I8 LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 4. DUE TO DEVELOPERS (Continued) Beazer Homes Texas LP's reimbursable expenditures for Bayside Crossing totaled $1,449,517 including interest at August 24, 2016. In the current fiscal year, the Developer was reimbursed $17,940 for interest. The amount due Beazer Homes Texas LP as of September 30, 2016, is calculated as follows: Balance Due Developer at 8/24/16 Fiscal Year 2016 Interest (8/24-9/30) Fiscal Year 2016 Payment Balance Due Developer at 9/30/2016 Princil2al Interest Total Due $ 1,394,050 $ 55,467 $ 1,449,517 8,154 8,154 (17,940) (17,940) 94.050 $ 45.68J l 439 731 Senior Associates's reimbursable expenditures and land for Bayside Crossing totaled $466,032 including interest at August 24, 2016. In the current fiscal year, the Developer was reimbursed $5,768 for interest. The amount due Senior Associates as of September 30, 2016, is calculated as follows: Principal Interest Total Due Balance Due Developer at 8/24/16 $ 455,823 $ 10,209 $ 466,032 Fiscal Year 2016 Interest (8/24-9/30) 1,I77 1,177 Fiscal Year 2016 Payment (5,7681 (5,768) Balance Due Developer at 9/30/2016 $ 455.823 _ 5 618 $ .461,441 In addition, a Developer has signed a Development Agreement but has not submitted costs for reimbursement of their projects. Estimated costs, based on the agreement, are as follows: 65 LaPorte, Ltd. $ 7,103,500 Under the agreements, the amount shown is not a payable debt if the tracts do not generate tax increment sufficient to pay the accrued amount. NOTE 5. TAX INCREMENTS The City has agreed to deposit their tax increments into the Tax Increment Fund established for the Zone. The amount of a Participant's tax increment for a year is the amount of property taxes levied and collected by the Participant for that year on the Captured Appraised Value of real property taxable by the Participant and located in the Zone. The Captured Appraised Value of real property taxable by a Participant for a year is the total appraised value of all real property taxable by the Participant and located in the Zone for that year less the Tax Increment Base, which is the - 19- LA PORTE REDEVELOPMENT AUTHORITY NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2016 NOTE 5. TAX INCREMENTS (Continued) total appraised value of all real property taxable by the Participant and located in the Zone on January 1 of the year in which the Zone was designated as such under the Tax Increment Financing Act (the "Tip' Act"). In the event property is annexed into the Zone by ordinance of the City, the Tax Increment Base for annexed property is the value of all real property taxable by a Participant and located in the annexed area on January 1 of the year of annexation. No Participant is required to deposit tax increments derived from property annexed into the Zone unless the Participant has agreed to do so. Each participant is required to collect taxes on property located with the Zone in the same manner as other taxes are collected. The Participant is required to pay into the tax increment fund the collected tax increments by the first day of each calendar quarter or pursuant to the terms of the participation set forth in their respective interlocal agreements. ; NOTE 6. CITY OF LA PORTE TAX INCREMENTS The City and the Zone have established the Tax Increment Fund, a separate fund in the City Treasury into which tax increments will be deposited. During the current fiscal year, tax increments of $837,562 were recorded from the City of La Porte, and $991,294 from the school district based on collected taxes. NOTE 7. HARRIS COUNTY TAX INCREMENTS The Commissioners Court of Harris County (the "County") approved an agreement to participate in the Zone. The amount of participation from years 2001 through 2029 will be 75% of the tax increment attributed to the capture appraised value. Harris County's participation and use of fund is limited to projects described in the agreement. During the current fiscal year; tax increments of $388,137 were collected from the County. NOTE 8. DUE TO CITY OF LA PORTE, TEXAS The Authority entered into a Reimbursement Agreement with the City of La Porte. The City financed capital improvements on behalf of the Authority. The agreement states that the City will be repaid from available funds subject to certain conditions. Interest accrues at a rate of the Prime Commercial Lending rate of Chase Manhattan Bank, N.A. or its successors, plus one percent per annum, compounded semi-annually, on the unpaid balance. Prior payments were applied to accrued interest and principal. As of September 30, 2016, the Authority has reimbursed the note in full. The amounts expended during the current fiscal year were $538,735 for principal and $23,123 for interest. -20- LA PORTE REDEVELOPMENT AUTHORITY REQUIRED SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2016 LA PORTE REDEVELOPMENT AUTHORITY SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE --- BUDGET AND ACTUAL - GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES Tax Increment Revenue Interest Income TOTAL REVENUES EXPENDITURES Professional and Other Services Capital Improvements Other TOTAL EXPENDITURES NET CHANGE IN FUND BALANCE FUND BALANCE - OCTOBER 1, 2015 FUND BALANCE - SEPTEMBER 30, 2016 Original and Final Budget General Fund Variance Positive Actual (Negative) $ 2,499,031 $ 2,216,993 $ (282,039) 300 419 119 $ 2,499,331 $ 2,217,412 $ _ (281,919) $ 599,155 $ 130,597 $ 468,558 1,915,801 2,086,830 (171,029) 39 (39) $ 2,514,956 $ 2,217,466 $ 297,490 $ (15,625) $ (54) $ 15,571 540,282 540,282 0 S 524,657 $ 540,228 $ 15,571 See accompanying independent auditor's report. 22 LA PORTE REDEVELOPMENT AUTHORITY OTHER SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2016 LA PORTE REDEVELOPMENT AUTHORITY BOARD MEMBERS AND ZONE ADMI MSTRATOR SEPTEMBER 30, 2016 Authority Mailing Address - Authority Telephone No. - La Porte Redevelopment Authority c/o David Hawes P. O. Box 22167 Houston, TX 77227 (713) 541-0447 Position Board Members 1 Peggy Antone — Secretary/Treasurer 2 Dave Turnquist 3 Alton Porter 4 Horace Leopard 5 Doug Martin — Chairman 6 JJ Meza 7 Chester Pool Vice Chair S Lloyd Graham Executive Director David Hawes See accompanying independent auditor's report. -24- 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 approval or other action regarding Authority invoices. 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 JANUARY 2017 REVENUE/EXPENSE SUMMARY - OPERATING ACCOUNT Beginning Fund Balance, November 30, 2016 $ 544,608.94 Revenues Interest payment, December 31, 2016 $ 22.38 Checks outstanding None Checks submittedfor approval 0116 McCall Gibson 5wedlund Barfoot #0117 Hawes Hill Calderon LLP Fund- balance, 11 Opera Iting Account,as of $ 544,631.32 $ 544,631.32 $ 6,000.00 $ 12,335.83 $ (18,335.83) try 31., 201:7 12 cr o Ln A C) r-r to m 0) O 0 m N r, to � in L) rn tD tD w m r, r-r u1 co t oo o N N r- dt C) ri V) w O m LD Lry It J` N O m i) cy 11 cr N o en v r� r: m l0 W N Lri N N ni 6 tD N 6 rV tri c 4 ri r` ui v) 6 tf1 —i 6 Q 4 C N tD 0) � m N N N dt d' d' r- cT N M O M W M [D t0 W M t0 0 iD oo M 7 Lr7 C) Ln t0 Lo rJ —i —i N try to vi t0 P- N r E tD Ol Ln co vi 00 Q N ri N In Ln r4 r� lh t!� vi tf} t/} t/} vl- tf�- t/). t/} V1. tf)- t4 V} V - t/} V)- th V}. 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Interim Billing: 0.00 Member of American Institute of Certified Public Accountants Texas Society ofCerlfaed Public Accountants Hawes Hill Calderon LLP P.O. Box 22167 Houston TX 77227-2167 STATEMENT DATE TiRZ-La Porte # I/La Porte Redevelopment Authority I 2/2/2017 604 W. Fairmont Pkwy. l LaPorte, TX 77571 — AMOUNT REMITTED Page I DATE INVOICE NO. DESCRIPTION CHARGES PAYMENTS BALANCE 9/9/2016 43015455 Invoice #43015455 $2,295.87 $2.295.87 * Professional consulting fee, August 2016 $2,000.00 * In-house posage, photocopies, binding, etc., August 2016 $220,71 * GIS/mapping, P. Horton, August 2016 $75.16 10/11/2016 43015486 Invoice #43015486 $2,039.96 $2,039.96 * Professional consulting fee, September 2016 $2,000.00 * Reimbursable mileage, parking, tolls, etc., D Hawes, June -September 2016 $39.96 11/9/2016 43015511 Invoice #43015511 $2,000.00 $2,000.00 * Professional consulting fee, October 2016 $2,000.00 12/6/2016 43015539 Invoice 443015539 $2,000.00 $2,000.00 * Professional consulting fee, November 2016 $2,000.00 1/12/2017 43015558 Invoice #43015558 $2,000.00 $2,000.00 * Professional consulting fee, December 2016 $2,000.00 2/2/2017 43015568 Invoice #43015568 $2,000.00 $2,000.00 * Professional consulting fee, January 2017 $2,000.00 2/2/2017 Finance Charge $0.00 $0.00 CU RENT 30 DAYS 90 DAYS 90+ DAYS AMOUNT DUE $2,000.00 $2,000.00 $4,000.00 $4,335.83 $I2,335.83 ' AAVVEsA|LLCALOERON LLPInvoice .'. . ` P.O.Box 22187 Houston TX 77227-2167 Authority 604 W. Fairmont Pkwy. La Porte, TX 77571 Date: 9/9/2016 Terms:C.[1[l Sales Tax: $0.00 Total Amount: $2,295.87 Amount Applied: $0.00 Owed As Of. 9/9/2016 LA PORTE RDA/TIRZ #1 In-house Postage, Photocopies, Binding, etc. Postage Date Amount 8/25/2016 $ 1.86 8/26/2016 $ 2.20 Total $ 4.06 Photocopies @ $0.25 Date Pages Amount 8/22/2016 115 $ 17.25 8/23/2016 980 $ 147.00 8/24/2016 210 $ 31.50 8/25/2016 46 $ 6.90 Total $ 202.65 Color Photocopies @ $0.50 Total Binding sets @ $1.00 Date Sets Amount 8/23/2016 14 $ 14.00 Total $ 14.00 Total, all items Postage $ 4.06 Photocopies $ 202.65 Color Photocopies $ - Binding sets $ 14.00 $ 220.71 Y z QW LLI d Q CL uL L1` O Z CL EL- 0- m Z �w� CL -Jo a L r" � 0L[ p O � Z U Z r LLL LLL �aa OR F- m Q w Qo c� cp T 0 0 0 0 LU F- w C'. N O N N O U W p w w o CL O C ) T O T C7 m 0 Q C] (D � J Qom] �U) � Q7 U LL L 0 U m ?3 U M O ~ U F- to IL Qi L fj) L a L oU U) A 2 t:� (1) m � m •� M CD m U` ED o Q U U} E � _ U- �- to o i�p Cm to L� � Ll co CD T t a Q N N B � N 00 0 O LO rl- O 64 N C6 c tf 0 a S 4 HAWEsHILLCALDERON :y — LLR Invoice P.O. Box 22167 Houston TX 77227-2167 TIRZ-La Porte # 1/La Porte Redevelopment Authority 604 W. Fairmont Pkwy. La Porte, TX 77571 i Invoice A 43015486 Date: 10/11 /2016 Terms: C.O.D. Sales Tax: $0.00 Owed As Of: 10/11/2016 Total Amount: $2,039.96 Amount Appfied: $0.00 Balance Due: $2,039.96 $2,295.87 $4,336.83 ct a, cc a P- N ai co T ru 0 LU F- f1C 0CL Q D Q C' ti o v � U o Q CD O O O O O O O O t.4 m O O O O O O O O m a; O O O O O O O a of O O 4 rn o 0 0 0 o a o o rn M O (D O O O O O O M m V1. t� � rn vv). m � vex n 0 0 0 0 0 HAWEsHILLCALDERON LLP P.O. Box 22167 Houston TX 77227-2167 TIRZ-La Porte # 1/La Porte Redevelopment Authority 604 W. Fairmont Pkwy. La Porte, TX 77571 Invoice j Invoice* 43015511 Date: 11/9/2016 Terms: C.O.D. Sales Tax: $0.00 Total Amount- $2,000.00 Amount Applied: $0.00 Balance Due: $2,000.00 Owed As Of: 11 /9/2016 � � d $2,039.96 $2,295.87 $6,335.83 HAWEsHILLCALDERON lLP Invoice nvoice P.O. Box 22167 Houston TX 77227-2167 TIRZ-La Porte # 11La Porte Redevelopment Authority 604 W. Fairmont Pkwy. La Porte, TX 77571 Invoice * 43015539 Date: 12/6/2016 Terms: C.O.D. Safes Tax: $0.00 Total Amount: $2,000.00 Amount Applied: $0.00 Balance Due: $2,000.00 Owed As Of: 12/6/2016 $2,000.00 $4,335.83 $8,335.83 Dawes Hill Calderon LLP P.O. Box 22167 Houston TX 77227-2167 Bill To: TIRZ-La Porte # I/La Porte Redevelopment Authority 604 W. Fairmont Pkwy. LaPorte, TX 77571 Invoice k 43015558 Date: 1 / 12/2017 Page: I Invoice ^ DATE DESCRIPTION AMOUNT i t t 9 I i Professional consulting fee, December 2016 $2,000.00 Sales Tax: $0.00 Total Amount: $2,000.00 Amount Applied: $0.00 Balance Due: $2,000.00 Terms: C.O.D. Hawes Hill Calderon LLP P.O. Box 22167 Houston TX 77227-2167 Bill To TiRZ-La Porte # I/La Porte Redevelopment Authority 604 W. Fairmont Pkwy. LaPorte, TX 77571 Invoice #: 43015568 Date: 2/2/2017 Page: 1 Invoice - --DATE DESCRIPTION AMOUNT I Professional consulting fee, January 2017 $2,000.00 Sales Tax: $0.00 Total Amount: $2,000.00 Amount Applied: $0.00 Balance Due: $2,000.00 Terms: C.O.D. 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 5. Receive updates from the City, developers, and staff regarding development within the Zone. 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, CITY OF LA PORTE, TEXAS AGENDA MEMORANDUM TO: La Porto Redevelopment Authority Board of Directors FROM: Executive Director SUBJECT: Agenda Item Materials 6. Board Member comments: a. Matters appearing on the agenda b. Inquiry of Staff regarding specific factual information or existing policy LA PORTE REDEVELOPMENT AuTitottrry do Hawes Hill Calderon LLP P.O. Box 22167 Houston TX 77227-2167 713-595-1200 or FAX 281-888-6314