HomeMy WebLinkAbout06-30-10 LPRDA/TIRZMeetingsAgendas and Agenda Materials
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Reinvestment Zone
"June 3 01 2010
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LA PORTE REDEVELOPMENT AUTHORITY
STATE OF TEXAS )(
COUNTY OF HARRIS )(
CITY OF LA PORTE )(
NOTICE IS HEREBY GIVEN OF THE MEETING OF THE LA PORTE REDEVELOPMENT AUTHORITY
TO BE HELD ON JUNE 30, 2010, AT 6:30 P.M. IN CITY COUNCIL CHAMBERS, CITY HALL, 604 WEST
FAIRMONT PARKWAY, LA PORTE, TEXAS, REGARDING THE ITEMS OF BUSINESS ACCORDING
TO THE AGENDA LISTED BELOW:
Call to order — Lindsey Pfeiffer, President;
%2. Consider approval of the minutes of Board of Directors Meeting held on February 24, 2010;
3. Ratify signatures on bank consent document,
4. Receive and consider Sylvan Beach Development Agreement, by and between the REINVESTMENT ZONE
NUMBER ONE,CITY OF LA PORTE; the LA PORTE REDEVELOPMENT AUTHORITY; the CITY OF
LA PORT; the LA PORTE ECONOMIC DEVELOPMENT CORPORATION; and HARRIS COUNTY;
j 5. Consider disbursement of Annual TIRZ Revenue pursuant to developer agreement;
b Receive report with regard to debt financing for Port Crossing;
7. Receive staff report and updates with regard to Port Crossing, Lakes on Fairmont Green, Retreat at Bay
Forrest Development Project, and Preserve at Taylor Bayou;
8. Consider approval or other action with regard to authority invoices; s..
9. Board member comments;
a. Matters appearing on Agenda;
b. Inquiry of staff regarding specific factual information or existing policy
10. Adjournment.
THIS FACILITY HAS DISABILITY ACCOMMODATIONS AVAILABLE. REQUESTS FOR
ACCOMMODATIONS OR INTERPRETIVE SERVICES AT MEETINGS SHOULD BE MADE 48 HOURS
PRIOR TO THIS MEETING. -PLEASE CONTACT THE CITY SECRETARY'S OFFICE AT 281-471-5020
OR TDD LINE 281-471-5030 FOR FURTHER INFORMATION.
A POSSIBLE QUORUM OF CITY COUNCIL MEMBERS MAY BE PRESENT AT THIS MEETING AND
PARTICIPATE IN DISCUSSIONS BUT WILL NOT TAKE ANY ACTION.
David W. Hawes
Executive Director
Date Posted
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 the minutes of Board of Directors meeting held on February
24, 2010.
r
LA PORTE REnEvELDPMENT AUTHORITY
c/o Hawes Hill Calderon LLP
P.O. Box 22167
Hoaston TX 77227-2167
713-595-1200 or FAX 713-595-1295
La Porte Redevelopment Authority,
City of La Porte, Texas
Minutes of the Board Meeting
Held February 24, 2010
1. Call to order — Lindsay Pfeiffer, President
The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, held a
meeting, open to the public, on the 24`h day of February, 2010; the meeting was called to order at
6:35 p.m. in the City Council Chambers of the City council conference Room, 604 West
Fairmont Parkway, La Porte, Texas; and the roll was called of the duly appointed members of the
Board, to wit:
Peggy Antone
Position 1
Dave Turnquist
Position 2
Alton Porter
Position 3
Horace Leopard
Position 4
Doug Martin
Position 5
JJ Meza
Position 6
Lloyd Graham
Position 7
Chester Pool
Position 8
Lin Pfeiffer
Position 9 - Chairman
and all of the above were present except Directors Graham and Pfeiffer, thus constituting a
quorum.. Also present at the meeting were John Joerns, Stacey Osborne, and Scott Bean.
2. Consider approval of the minutes of Board of Directors Meeting held on November 18,
2009.
Upon motion made by Director Tumquist, seconded by Director Meza, the board voted
unanimously to approve minutes as presented. Director Porter abstained from the vote due to his
absence at the November 180', 2009 meeting.
3. Approve Fiscal Year 2009 La Porte Redevelopment Authority Audit.
Mr. Hawes gave a brief overview of the calculations used to for the disbursement of Harris
county funds. Upon motion made by Director Leopard, seconded by Director Graham, the board
voted unanimously to approve the disbursement of Harris County Tax Increment Revenue to
Port Crossing.
4. Consider approval of invoices.
Mr. Hawes presented the invoices. Upon a motion made by Director Pool, and being seconded
by Director Leopard, the board unanimously approved payment of the invoices.
5. Board comments ---None were offered.
6. Adjournment. The Chairman adjourned the meeting at 6:47.PM
SIGNED: - ATTEST:
TITLE:TITLE:
DATE: .�e�� . oZo f„O DATE:
LA PORTE REDEvELOPME'i+T AUTHORITY,
CITY OF LA PORTE, TEXAS
AGENDA MEMORANDUM
TO: La Porte Redevelopment Authority Board of Directors
FROM: Executive Director
SUBJECT: Agenda Item Materials
4. Receive and consider Sylvan Beach Development Agreement, by and between the
REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE; the LA PORTE
REDEVELOPMENT AUTHORITY; the CITY OF LA PORTE; the LA PORTE
ECONOMIC DEVELOPMENT CORPORATION; and HARRIS COUNTY.
LA 1PoRn REDEVELOP TAuTjaoRjTv
c/o Hawes Hill Calderon LLP
P.O. Box 22167
Houston TX 77227-2167
713-595-1200 or FAX 713-595-1295
DEVELOPMENT AGREEMENT
Draft # 3 February 22 2010
This Development Agreement (this "Agreement") is made as of , 2010, by and between
the REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, TEXAS (the
"Zone "), a tax increment reinvestment zone created by the City pursuant to Chapter 311 of the
Texas Tax Code, as amended, acting by and through its governing board of directors (the "Zone
Board"), LA PORTE REDEVELOPMENT AUTHORITY, a nonprofit local government
corporation formed by and on behalf of the City of La Porte, Texas (the "Authority "), and CITY
OF LA PORTE, TEXAS a home -rule city (the "City "),the LA PORTE ECONONQC
DEVELOPMENT CORPORATION, a non-profit corporation organized under the laws of the
State of Texas (the "Development Corporation ") and HARRIS COUNTY, a body corporate and
politic under the laws of the State of Texas, (the "County").
RECITALS
WHEREAS, pursuant to Chapter 311 of the Texas Tax Code, as amended, the City Council of
the City (the "City Council") created the Zone in the City; and
WHEREAS, the Zone Board adopted a project and financing Plan (as defined below in Section
1.1), as amended, that provides that the Zone will undertake to make certain acquisitions and
improvements in the Zone, and was approved by the City Council; and
WHEREAS, the Texas Tax Code provides that the Zone may enter into agreements as the Zone
Board considers necessary or convenient to implement the Plan and achieve its purposes; and
WHEREAS, the City and the Zone have contracted with the Authority as a nonprofit Texas
local government corporation pursuant to the provisions of Chapter 431, Subchapter D, Texas
Transportation Code, as amended, to carry out the purposes of the Zone, including
administration, supervision, construction, financing and other duties, and have committed the
revenues of the Zone to the Authority for such purposes, all as more particularly set forth in the
Agreement Between the City, the Zone and the Authority, dated July 9, 2001 (the "Tri-Party
Agreement'); and
WHEREAS, the City, the Development Corporation and the County wish to make certain
improvements within the Zone, to further development within the Zone and to carry out the
purposes of the Zone as described in the Plan, and provide for the reimbursement of the
Development Corporation and the County for such improvements in accordance with such Plans;
and
Whereas. the City has entered into an n rreement numwint to that ccvfnin CnPrial nnrtimant
-o---------- _._ ._
No. SD 2068-0002 with the State of Texas (the "State") and that certain Project Cooperation
Agreement (the "Cooperation Agreement'] CEPRA Project No. 1404 with the General Land
Page 1 of 11
Office, (the "GLO") that provides terms and conditions for the Project (as defined below in
Section 1.1); and
Whereas, the Development Corporation has agreed to provide certain funding to the City for
the Project: and
Whereas, Harris County has agreed to provide certain funding for the Project; now,
therefore,
AGREEMENT
For and in consideration of the mutual promises, covenants, obligations, and benefits of this
Agreement, the Zone, the Authority, the City, the Development Corporation and the County
contract and agree as follows:
ARTICLE I
GENERAL TERMS
1.1 Definitions. The terms "Agreement," `Authority, " "City," "City 'Council",
"Cooperation Agreement", "County", "Development Corporation", "GLD ", "State " ,"Tri-
Party Agreement", "Zone," and "Zone Board," have the meanings set forth in the preamble
hereof, and the following capitalized terms shall have the meanings provided below, unless
otherwise defined or the context clearly requires otherwise. For purposes of this Agreement the
words "shall" and "will" are mandatory, and the word "may" is permissive.
Act shall mean the Tax Increment Financing Act, Chapter 311, Texas Tax Code, as amended.
Authority Bonds shall mean any bond, note or other obligation issued or incurred in one or more
series pursuant to Article V, secured by Tax Increment or funds deposited in the Revenue Fund,
including refunding bonds..
Advances shall mean any funds advanced by the Development Corporation or the County to City
pursuant to Section 5.1(a), and slfall include any interest payable thereon.
Interlocal Agreement shall mean an agreement between the City and the County regarding the
County's participation in funding the Project approved by City ordinance 2008-3070 dated
March 24, 2008, and approved by County April 8, 2008.
4
LPISD shall mean the La Porte Independent School District.
Page 2 of 11
Net Tax Increment shall mean the annual collections of the Tax Increment, less (i) any amounts
required to be disbursed to LPISD for the payment of project costs related to educational
facilities incurred directly by LPISD, and (ii) amounts reasonably required or anticipated to be
required for the administration and operation of the Zone, including a reasonable operating
reserve.
Parties or Party shall mean the Zone, the Authority the City, the Development Corporation and
the County as parties to this Agreement.
Plan shall mean the final project plan and reinvestment zone financing plan for the Zone, as
amended, as approved by City Council.
Project shall mean the Sylvan Beach Shoreline Protection and Beach Nourishment Project
described in the Project Agreements.
Project Agreements shall mean Special Document No. SD 2008-0002, between the State and the
City; the Project Cooperation Agreement, CEPRA Project No.1404, between the GLQ and City
and the plans prepared by URS Corporation and titled "Sylvan Beach Shoreline Protection and
Beach Renourishment."
Revenue Fund shall mean the special fund established by the Authority and funded with Tax
Increment payments made by the City pursuant to the Tri-Party Agreement (which payments are
attributable to incremental ad valorem property taxes paid on the Project and other prgperties in
the Zone).
Tax Increment shall mean funds deposited in the Revenue Fund by the City pursuant to the Tri-
Party Agreement, comprised of funds received pursuant to those certain Interlocal Agreements or
similar agreements between the City, the County and the Zone; the City, and the Zone and;
between the City, LPISD and the Zone.
Taxing Unit shall mean individually and collectively the City, the County, and LPISD.
1.2 Singular and plural; gender. Words used herein in the singular, where the context
so permits, also include the plural and vice versa. The definitions of words in the singular herein
also apply to such words when used in the plural where the context so permits and vice versa.
Likewise, any masculine references shall include the feminine, and vice versa.
ARTICLE 2
REPRESENTATIONS
2.1 Representations. Each Party to this Agreement hereby represents on behalf of
itself that:
El
Page 3 of 11
(A) It is duly authorized, created and existing in good standing under the laws of the
State and is duly qualified and authorized to carry on the governmental functions and operations
as contemplated by this Agreement.
(B) It has the power, authority and legal right to enter into and perform this
Agreement and the execution, delivery and performance hereof (i) has been duly authorized, (ii)
will not, to the best of its knowledge, violate any applicable judgment, order, law or regulation,
and (iii) does not constitute a default under, or result in the creation of, any lien, charge,
encumbrance or security interest upon any assets of such Party under any agreement or
instrument to which such Party is a party or by which such Party or its assets may be bound or
affected.
(C) This Agreement has been duly authorized, executed and delivered by such Party
and, constitutes a legal, valid and binding obligation of the such Party, enforceable in accordance
with its terms.
(D) The execution, delivery and performance of this Agreement by such Party does
not require the consent or approval of any person which has not been obtained.
ARTICLE 3
THE PROJECT
3.1 The Project. The Project is intended to enhance the proposed implementation of a
development within the Zone as a whole, as more fully described in the Plan.
3.2 Project Description. The Project consists of improvements to the Shoreline of
Sylvan Beach Park as more fully described in the Project Agreements together with any
modifications, alternates or phased construction approved, in writing, by parties to the Project
Agreements. Project shall include all engineering, legal and other consultant fees and expenses
allowed by the Project Cooperation Agreement.
3.3 Additional Projects. This Agreement does not apply to any projects not
specifically defined herein unless this Agreement is amended to provide for the design and
construction of such additional projects.
ARTICLE 4
DUTIES AND RESPONSIBILITIES OF THE CITY AND COUNTY
4.1 Resfonsibilities of the City. The City has entered into Project Agreements with
the State through the GLO in regard to thefinal design, bidding and construction funding of the
Page 4 of 11
Project. The City agrees to comply with the covenants and agreements contained within the
Project Agreements.
4.2 Project CoWletion. Upon completion of the Project, the City shall provide the
Authority, Zone and County with a final cost summary of all costs associated with the Project,
and show that all amounts owing to contractors and subcontractors have been paid in full as
evidenced by customary affidavits executed by such contractors. The City shall also provide
verification to the Zone, Authority and County that the Project was constructed as authorized by
the GLO.
4.3 Responsibilities of the County. Upon receipt of verification that the Project was
constructed as authorized by the GLO, the County shall assist the City by performing the
maintenance and annual reporting required by Article 4.03 (B) and (C) of the Special Document
No. SD 2008-0002.
ARTICLE 5
PROJECT FINANCING AND FUNDING
5.1 The Development Corporation and County Advances.
I (a) (i) The Development Corporation has advanced the City $700,000 to be used by
the City for the Project.
(ii)The County, pursuant to the provisions of the Interlocal Agreement, has advanced the
City, $600,000 to be used by the City for the Project.
(iii)To the extent possible, the City will expend the moneys described in subparagraphs
(i) and (ii) above on the Project on a equal dollar for dollar basis between the Development
Corporation and the County up to the County's maximum contribution of $600,000.00. After
completion of the Project, the City agrees to return respective funds of the Development
Corporation and the County remaining after the City has met the funding obligations contained
in the Project Cooperation Agreement.
(b) Interest on each Advance shall accrue at a rate equal to the prime commercial lending
rate of Chase Manhattan Bank, National Association, or any successor to its commercial
banking activities, plus one percent per annum, compounded semiannually, whether such costs,
fees, or expenses are paid or incurred before or after the effective date of this Agreement. Interest
shall be calculated on the basis of a year of 360 days and the actual days elapsed (including the
first day but excluding the last day) occurring in the period for which such interest is payable,
unless such calculation would result in a usurious rate, in which case interest shall be calculated
on the per annum basis of a year of 365 or66 days, as applicable, and the actual days elapsed
(including the first day but excluding the last day).
Page 5 of 11
5,2 Repayment of Advances.
(a) In consideration of the construction of the Project, the Authority shall begin repaying
the Advances, and shall continue such repayment until repaid in full, on the earliest date that
funds are available from any of the following sources, and solely from such sources:
(i) proceeds from the sale of the Authority Bonds, as set forth in subsection (c), and
(ii) the Net Tax Increment, subject to the limitations set forth in subsection (d).
(b) To the extent that funds from the sources listed above are insufficient on any
scheduled date for the repayment of Advances to repay all outstanding Advances in full,
repayment of Advances shall be made on a pro rata basis between the Development Corporation
and the County on the basis of monies available for repayment.
(c) As provided herein, the Authority shall issue one or more series of Authority Bonds
at the earliest feasible date, which Authority Bonds will be secured by a pledge of the Revenue
Fund. The net proceeds of the Authority Bonds shall be deposited to a special fund of the
Authority, and shall be used by the Authority to reimburse the Development Corporation and the
County for the full amount (or such portion thereof as is deemed by the Authority as supportable
by available Tax Increment as provided below) for eligible Development Corporation and the
County Advances, plus interest. Such Authority Bonds shall be sold within 120 days (or such
other period as may be agreed by the Parties) of a written request therefore from the
Development Corporation and the County; provided that the City's Net Tax Increment (based
upon the tax valuation of the Zone as certified or estimated by the Harris County Appraisal
District, or its successor) expected to be generated with respect to available Tax Increment is
sufficient to support the applicable Authority Bonds bearing interest at the then current rate of
interest as determined by the Authority's financial advisor for comparable issues, after taking
into account the portion of the City's Net Tax Increment required to pay any outstanding
Authority Bond issued for any purpose, including Authority Bonds issued to refund outstanding
Authority Bonds. The City's Net Tax Increment is determined as the total Net Tax Increment,
less any amounts that are used or to be used to determine eligibility of developers within the
Zone for reimbursement of advances to the Authority for construction or anticipated construction
of public improvements under the Plan pursuant to reimbursement agreements approved by the
Authority, either now or during the life of the Zone.
(d) In addition to the Development Corporation's and the County's right to
reimbursement from Authority Bond proceeds, upon request from the Development Corporation
and the County, the Authority shall reimburse the Development Corporation and the County
Advances, plus interest, from the City's Net Tax Increment (computed as above) accumulated in
the Revenue Fund and available in accordance with the priorities described in Section 5.3,
below.
Page 6 of 11
(e) At such time as funds are available to pay all or any portion of the Development
Corporation and the County Advances made hereunder, the Authority shall hire a certified public
accountant to calculate the amount due the Development Corporation and the County and
prepare and submit a report to the Authority certifying (1) the amount due the Development
Corporation and the County for the Development Corporation and the County Advances being
repaid with interest calculated thereon, and (2) that funds are available to make such payment.
Such report shall be approved at the earliest practicable time, but not later than 90 days after
submission by the Development Corporation and the County of the records required therefore.
The Authority shall make payment to the Development Corporation and the County within 30
days of approval of the auditor's report.
(f) The Authority shall provide to the Development Corporation and the County, upon
their written request, and on the earliest date such information is available after the date of such
request, certified copies of all statements of revenue and the sources of such revenue of the Zone
and Authority the intended use of which is to verify the availability of funds for repayment of the
City Advances, if applicable, under this section.
5.3. Priorities. Amounts deposited in the Revenue Fund shall be applied in the
following order of priority (i) disbursement to LPISD, if applicable, for educational facilities in
accordance with any interlocal agreement with LPISD, the City and the Zone; (ii) administrative
costs of the Zone and the Authority; (iii) amounts pledged or required for the payment of
outstanding Authority Bonds, including Authority Bonds in the process of issuance and
refunding Authority Bonds, and (iv) payments to the City for funding the Southeast Sanitary
Sewer Trunk Main and Lift Station Facilities per Development Agreement between the Zone,
Authority and City dated 6/12/06 and (v) payments to the Development Corporation and the
County pursuant to Section 5.2(d), above.
5.4. Multiple developers, the Development Corporation and the County. The
Authority has entered into other agreements with developers of land within the Zone for the
financing of Zone Improvements, and may enter into others. It is the intention of the parties that
each developer shall be responsible for the creation of Tax Increment required for its own
reimbursement. In such case, the Tax Increment generated within a developer's project as
defined in the applicable reimbursement agreement shall not be considered in determining
whether sufficient Net Tax Increment exists for the issuance of Authority Bonds, or direct
payment of available Net Tax Increment, for reimbursement of Advances unless the applicable
developer shall give its written consent thereto. The net proceeds of Authority Bonds issued to
reimburse multiple developers and the Development Corporation and County shall be allocated
based upon the proportion of Tax Increment generated by each developer, or such other method
as the developers may agree upon, and any unallocated Tax Increment shall be used for
calculation of the City's Net Tax Increment and reimbursement of Advances.
Page 7 of 11
ARTICLE 6
DEFAULT
6.1 Default
(a) If any Party does not perform its obligations hereunder in substantial compliance
with this Agreement, in addition to the other rights given the other Parties under this Agreement,
such non -defaulting Parties may enforce specific performance of this Agreement or seek actual
damages incurred by the Development Corporation and County for any such default.
(b) The Party alleging default shall provide written notice to the other party of such
default, and the defaulting party shall have 60 days to remedy the default prior to the declaration
of any default hereunder.
ARTICLE 7
GENERAL
7.1 Inspections, audits. The City agrees to keep such records with respect to the
Project and all costs associated therewith as may be required by the Authority, the Zone, or by
State and federal law or regulation. The City shall allow the Zone access to, and the .Zone shall
have a right at all reasonable times to audit; all documents and records in the City's possession,
custody or control relating to the Project that the Authority deems necessary to assist the
Authority in determining the City's, Development Corporation's and County's compliance with
this Agreement.
7.2 City operations and emloy_ees. All personnel supplied or used by the City in the
performance of this Agreement shall be deemed employees, contractors or subcontractors of the
City and will not be considered employees, agents, contractors or subcontractors of the Zone or
the Authority for any purpose whatsoever. The City shall be solely responsible for the
compensation of all such contractors and subcontractors.
7.3 Personal liabili of public officials le al relations. To the extent permitted by
State law, no director, officer, employee or agent of the Zone or the Authority shall be personally
responsible for any liability arising under or growing out of the Agreement. THE PARTIES SHALL
INDEMNIFY AND SAVE - HARMLESS EACH OTHER AND THEIR RESPECTIVE OFFICERS
REPRESENTATIVES AND AGENTS FROM ALL SUITS ACTIONS OR CLAIMS OF ANY CHARACTER
BROUGHT FOR OR ON ACCOUNT OF ANY INJURIES OR DAMAGES RECEIVED BY ANY PERSON
PERSONS OR PROPERTY RESULTING FROM THE NEGLIGENT ACTS OF SUCH PARTY OR ANY OF ITS
AGENTS OFFICERS OR REPRESENTATIVES IN PERFORMING ANY OF THE SERVICES AND ACTIVITIES
UNDER THIS AGREEMENT. The expenses of the Zone or the Authority with respect to this section
or Section 7.15, below, shall be satisfied from uncommitted City Net Tax Increment.
Page 8 of 11
7.4 Notices. Any notice sent under this Agreement (except as otherwise expressly
required) shall be written and mailed, or sent by electronic or facsimile transmission confirmed
by mailing written confirmation at substantially the same time as such electronic or facsimile
transmission, or personally delivered to an officer of the receiving party at the following
addresses:
La Porte Redevelopment Authority
604 W. Fairmont Parkway
LaPorte, Texas 77571
Attn: David Hawes
Cc: John Joerns
Reinvestment Zone Number One
604 W. Fairmont Parkway
LaPorte, Texas 77571
Attn: David Hawes
Cc: John Joerns
City of La Porte
604 W. Fairmont Parkway
LaPorte, Texas 77571
Attn: City Manager
La Porte Development Corporation
604 W. Fairmont Parkway
LaPorte, Texas 77571
Harris County
Each party may change its address by written notice in accordance with this section. Any
communication addressed and mailed in accordance with this section shall be deemed to be
given when so mailed, any notice so sent by electronic or facsimile transmission shall be deemed
to be given when receipt of such transmission is acknowledged, and any communication so
delivered in person shall be deemed to be given when receipted for by, or actually received by,
the Authority, the Zone, or the City, as the case may be.
7.5 Amendments and waivers. Any provision of this Agreement may be amended or
waived if such amendment or waiver is in writing and is signed by the Zone, the Authority the
City, the Development Corporation and the County. No course of dealing on the part of the
Parties, nor any failure or delay by one or more of the Parties, with respect to exercising any
right, power or privilege under this Agreement shall operate as a waiver thereof, except as
otherwise provided in this section..
7.6 Invalidity. In the event that any of the provisions contained in this Agreement
shall be held unenforceable in any respect, such unenforceability shall not affect any other
provision of this Agreement.
7.7 Successors and assigns. All covenants and agreements contained by or on behalf
of a Party in this Agreement shall bind its successors and assigns and shall inure to the benefit of
the other Parties, their successors and assig.
Page 9 of 11
7.8 Exhibits; titles of articles, sections and subsections. The exhibits attached to this
Agreement are incorporated herein and shall be considered a part of this Agreement for the
purposes stated herein, except that in the event of any conflict between any of the provisions of
such exhibits and the provisions of this Agreement, the provisions of this Agreement shall
prevail. All titles or headings are only for the convenience of the Parties and shall not be
construed to have any effect or meaning as to the agreement between the Parties. Any reference
herein to a section or subsection shall be considered a reference to such section or subsection of
this Agreement unless otherwise stated. Any reference herein to an exhibit shall be considered a
reference to the applicable exhibit attached hereto unless otherwise stated.
79 Construction. This Agreement is a contract made under and shall be construed in
accordance with and governed by the laws of the United States of America and the State of
Texas; as such laws are now in effect.
7.10 Entire Agreement. THIS WRITTEN AGREEMENT REPRESENTS THE FINAL
AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
7.11 Term. This Agreement shall be in force and effect from the date of execution
hereof for a term expiring on the date that all Advances have been repaid in full, or January 1 of
the year following the expiration of the Zone.
7.12 Time of the essence. Time is of the essence with respect to the obligations of the
Parties to this Agreement.
7.13 Approval by the Parties. Whenever this Agreement requires or permits approval
or consent to be hereafter given by any of the parties, the parties agree that such approval or
consent shall not be unreasonably conditioned, withheld or delayed.
7.14 Counterparts. This Agreement may be executed in multiple counterparts, each of
which when so executed and delivered shall be deemed together shall constitute but one and the
same instrument.
7.15 Leal costs. If any Party hereto is the prevailing party in any legal proceedings
against another Party brought under or with relation to this Agreement, such prevailing Party
shall additionally be entitled to recover court costs and reasonable attorneys= fees from the non -
prevailing Party to such proceedi-n
7.16 Further assurances_ . Each Party hereby agrees that it will take all actions and
execute all documents necessary to fully carry out the purposes and intent of this Agreement.
7.17 Effect of Tri-Party Agreement. The obligations of the Parties hereunder are
specifically conditioned upon the approval, execution, and effectiveness of the Tri-Party
Agreement.
Page 10 of 11
[EXECUTION PAGE FOLLOWS]
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be duly executed as
of , 2010.
LA PORTE DEVELOPMENT ,..
REINVESTMENT ZONE NUMBER CORPORATION
ONE, CITY OF LA PORTE, TEXAS
Name:
Title:
LA PORTE REDEVELOPMENT
AUTHORITY
Name:
Title:
I0
Name:
Title:
Name:
Title:
E
Page 11 of 11
LA PORTE REDEVELOPMENT AUTHORITY,
CrFY OF LA PORTE, TEXAS
AGENDA MEMORANDUM
TO: La forte Redevelopment Authority Board of Directors
FROM; Executive Director
SUBJECT: Agenda Item Materials
S. Consider disbursement of annual TIRZ revenue pursuant to the developer
agreement.
LA TORTE REDEVFLOPMENT AllimoRiTv
c/o Hawes Hill Calderon LLP
P.O. Box 22167
Houston TX 77227-2167
713-595-1200 or FAX 713-595-1295
FY 2011
Administration and Project Management
$
42,000.00
Legal
$
5,000.00
Agreed Upon Procedures Reports
$
7,500.00
Annual Audit
$
9,000.00
Operating Expenses
$
3,000.00
Bank Expenses
$
60.00
Reserve
$
100,000.00
Prior Year Increment Revenue owed to others
$
152,232.00
City Administration @ 5%
$
54,766.00
Total
$
373,558.00
TOTAL AVAILABLE FOR DISTRIBUTION 6.30.2010
$
1,246,770.43
2009 Tax Year
Total Value in the TIRZ as of March 2010 (Value)
$74,571,423
Less the Tax Increment Buse (1999) Value
$7,385,080
Total Increment Created
$67,186,343
Lakes at Fairmont Green [Plat recorded 2/27/08)
$589,147
65 La Porte
$2,166,062
Retreat at Bay Forest N &, S (Plat recorded 3/18/08)
$239,443
Port Crossing
$55,694,257
Remaining Captured Appraised Value
$8,497,434
%
0.877%
$ 10,932.74
3.224%
$ 40,195.40
0.356%
$ 4,443.32.
82.895%
$ 1,033,512.91
12.648%
$ 157,686.06
100.000%
$ 1,246,770.43
LA PoRTE REDEVELOPMENT AUTHORrrY,
CITY OF LA PORTE, TEXAS
AGENDA MEMORANDUM
TO: La Porte Redevelopment Authority Board of Directors
FROM: Executive Director
SUBJECT: Agenda Item Materials
8. Consider approval or other action with regard to Authority invoices.
LA PORY'E REDEVELopmENT AUTffoRrry
c/o Hawes Hill Calderon LLP
P.O. Box 2216'
Houston TX 77227-2167
713-595-1200 or FAX 713-595-1295
La Porte Redevelopment Authority
Cash Flow Report, FY 2009-2010
Cleared
Bank Operating Account
Beginning fund balance,1011/2009
10/15/2009 City of La Porte
10/30/2009 Interest deposit (0.30%)
11/30/2009 Interest deposit (0.10%)
12/31/2009 Interest deposit (0.15%)
1/29/2010 Interest deposit (0.10%)
2/26/2010 Interest deposit (0.10%)
3/31/2010 Interest deposit (0.10%)
4/30/2010 Interest deposit (0.20%)
5/31/2010 Interest deposit (0,20%)
6/10/2010 Harris County tax collections
6/22/2010 City of La Porte tax collections
6/22/2010 LPiSD tax collections
Total, revenues
Cleared
Bank Expenses
Checks paid.,
11/23/2009 #117 Port Crossing LP
11/19/2009 #118 Hawes Hill Calderon LLP
2/25/2010 #120 Hawes Hill Calderon LLP
3/31/2010 #119 Patillo Brown & Hill LLP
Total, Checks paid
Checks outstanding
None
Total, Checks outstanding
Checks submitted for approval 6/30/2010
#121 VOID CHECK
#122 Pattillo, Brown & Hill LLP
#123 Hawes Hill Calderon LLP
#124 Port Crossing
Total, Checks submitted
Total expenses
Fund balance, Operating Account as of June 30, 2010
For Amount Subtotal Total
$
265,520.84
county TIRZ payment
$
196,067.00
Interest
$
91.25
interest
$
73.20
interest
$
36.70
interest
$
28.41
interest
$
22.06
interest
$
25.13
interest
$
42.59
interest
$
42.60
county TIRZ payment
$
257,543.00
city TIRZ payment
$
582,670.33
I5D TIRZ payment
$
512,646,62
$ 1,814,809.73 1 $ 1,814,809.73
developer reimbursement $ 165,769.15
Inv 3385, 3400, 3422 $ 7,937.24
Inv 3514, 3466, 3515 $ 7,552.62
Interim billing, audit $ 3,000.00
$ 184,259.01
error in account posting $ -
audit final invoice $ 150.00
Inv 3523, 3505, 3586, 3614 $ 10,072.29
developer reimbursement $ 1,033,512.91
-- 1 $ (1,227,994.21)1
$ 586,815.52
La forte Redevelopment Authority
Cash Flow Report, FY 2009-2010
Cleared
Bank Construction Account
Beginning fund balance, 7/31/2009
8/31/2009 Interest deposit (0.40%)
9/30/2009 Interest deposit (0.30%)
10/3012009 Interest deposit (0.30%)
11/30/2009 Interest deposit (0.15%)
12/31/2009 Interest deposit (0.15%)
1/31/2010 Interest deposit (0.10%)
2/26/2010 Interest deposit (0,10%)
3/31/2010 Interest deposit (0,10%)
4/30/2010 Interest deposit (0.20%)
5/31/2010 Interest deposit (0.20%)
Total, revenues
Clearest
Bank Expenses
Checks paid:
8/17/2009 #110 Coastal Testing Laboratories, Inc.
8/31/2009 #111 Durwood Greene Construction Company
#112 check not used
9/16/2009 #113 .tones & Carter, Inc.
11/16/2009 #114 Durwood Greene Construction Company
2/29/2010 #115 Port Crossing Land, LP
Total, Checks paid
Checks outstanding
none
Total, Checks outstanding
Checks submitted for approval June 30, 2010
#116 Port Crossing Land (PCL)
Total, Checks submitted
Total expenses
Fund balance, Construction Account as of June 30, 2010
For Amount Subtotal Total
$ 231,435.42
interest
$
76.89
interest
$
41.77
interest
$
34.78
interest
$
21.26
interest
$
11.39
interest
$
8.82
interest
$
5.39
interest
$
2.03
interest
$
3.45
interest
$
3.45
$ 231,644,65 1 $ 231,644.65
$ 5, 055.50
Pay App#2 $ 82,785.60
void $ -
Pay App#3 $ 2,674.00
final paym't $ 51,651.11
Wharton Weems $ 67,002.00
$ 209,168.21
$ 18,329.74
$ 18,329.74
1 $ (227,497.95
$ 4,146.70
LAPORTF.TrXAS o'er 1�.. zate
INVOICES
March B, 2010
Mr, David Hawes
Hawes HflL CW deron
10103 9ondren, 6300
Houston, Texas 77o96
RE: 5H 146 and Wharton Weems Construc€ion Phase Service
Dear David,
The attached proposal for payment to Port Gassing Land (PCL) has been reviewed by
the City. We are recommending a payment of $18,329.74, which is the balance due after
subtracting the amount over -budget paid by PCL
I have enclosed abrief summary of our calculations for your reference. Please process
this pay application upon receipt if youhave any questions, please let me know. You
can reach me by phone at (281) 470-5017 or via email at osborues@laportetx gov.
WaQrm�regards,
Stacey Osbome
Economic Development Coordinator
City of La Porte
cr: John Joems, Assistant City Manager
LAPORTEBYTHEBAY
604 W.Fom,om Pod..nr Lo Po4,T— 77571 251/47I5C20
Payment Summary: Port Crossing
:x
March 8, 2010
PaCfiJlo, Qrvam & }rill, LL.P.
Expense ptl Proposal
Jones&Carter Design $ 69,250.25
Catifiop i'utlk hccnunueisl3einex Comsuhnnia
TE051 $ 9,764X0
Haynes & Boone jLegal) $ 8,23g00
Total due: $ $7,252.29
La Porte Tax Increment Reinvaslmsnt Zone One
Total paid to PCL on 2/$/10 : $ 67,002.00
Attn: David Hawes
Overage charges; $ 1,e2054
P.O. Box M67
HOusfOn, TX 77227-2167
Total due an 3/$/30: $ 18,329.74
Statema» t pate 5/12/2010 Cflant No. 1139B0.GA
Invoice are Descdphon Charge Credit Balance
Opening Balance As Of 611212010
282632 2128l2010 Prior Invoice 150.00
150.00
Current Balance
$ 150.00
R
0-10 31-60 61-90 91.120 0-120 selects
offe 0.00 160.00 0.an DAG s 1ae.09
Please Write Your Client Number on Your Payment
MCMsa and Automadc Bank Draft Accepted
LA PORTS BY T}IE BAY 401 West Highway 6 a P.O, Box 20725 ■ Waco, TX 76702.0725 z (2a4) 772-4901
60A W. Fo'vmonl Podwny La Po.Tews 77571 2811471.5020
was Hill Ca],L-n LLP
.O. Bpz 22167
-ousann TX 77227 2167
fl.- Hill Calderon LLP
P.O. B_ 22167
Haralee TX 77227-2167
TIRZ -La Porte b I
604 W. Fairmont Phvy.
la Portia, TX 77571
STATEMEIdi
DATE
bl77I2010
AMOUNTRFAUT18D
Page r
S
➢ATE B+NOICE NO.
DESCRIPTION
CHARGES PAYMF2gi'S
BALANCE
311rzOt0 00003523
Sale City of la Poalc
S2,392.14
S2,382.14
000 41U20I0 03385
Sple Chyefla Part,
S2,000A0
S210w.00
SY112010 00003586
Saie;CitycfipPorte
52,000.00
S2mo 00
61112020 00003614
Sala; City efda Pone
$3,690.13
S3,690.15
6r22R010 Finance cmusa SOAO SD.00
CIRRENT 30DAYS 90 DAY$ 90-DAYS AMOUNTDUE
53,690. 15 S4,000.00 52,3821k $10,07229
USPS - Print Slripphag Labels - Print Confumation
AUUNITEDSWES
POSTAI.SERWCE.
Print Shipping Labels
Page 1 of 2
Print Confirmation Q P1D1pdP0mly.
Thank you for ch-1ho the United Stales Postal Service®
Printed Oemestic Lahals
Transaction M 1621G2437
Charged W. AMEX """""'-'4U45
Labels Intluded: 1n
Print DateMme:2 Vile 1259.35 PM CST
5tanderdued , Ta
pahisa0e Iola
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1 0f 1tl PEGGY AN70NE
Ship Dale: 02WID
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617.40
RESIDENCE
Weighcllba D=
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8418 COLLINGDALE RD
rmm: 77095
Label Total
$17AD
LA PORTE, TX 77571-3633
--
Exp ass Mell®L bet Numbs rO 971 827 001 U5
... ..... . ..,.
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2610 .'. HORACE LEOPARD
Ship Date: 02/22110
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$1740.
RESIDENCE
Weight 1lbn 00.
- Walvarnl5lpralure
3202 LAZY PINE LN
prom: 77096
Leb it TWl
$17.40
LA PORTE, TX T7571-B624
Fop.. Mail®L he Number- ED 971826970 US
3.t 10 LLOYD Gi3AHAM
Ship Dais:02Y12110
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LA PORTS ISO
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1002 SAN JACINTO ST
From 77p%
LaOI Tetai
$17.40
iA PORTS, TX 77571-64BI
E(PresS Mai[® Label Number. EO 971 B26 299 US
4010 -, JOHN JOERNS
SMp Date: WJ2211D
Express Mall Flat Rafe Env
$t7,40
CITY OF LA PORTE
Weight llbs 9.Y
Wa14ISlgnalure
PC BOX 1115
From:77uBs
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$s7aa
LA PORTS, TX 77572-1111,
Express Mail® Label Number. EO 9Tt B27916 US
6.110 r' DOUG MARTIN
Ship Dale: U2122J10
Efyress Mau Fail Nate Env
$17.40
RESIDENCE
Weight albs O.Y
Wuiv isi9nature
1103 DAK LEAF ST
r-m Dq6
Le6at7eel
$17AD
LA PORTS, TX 77571$939
Express Mall® Label NUmlJsr. T-0 5TT 826 964 US
60110 '' J. J. MEZA
Ship Data: 0226J10
@press Nag nal Rala Em
617A0
PO BOX 202
Might llba C.
Waiver rogmikae
LA PORTE, TX 77572-0202
rram:77096
Lnb.,T01e1
$17.40
Express Mail® Label Number. ED 97'1 eg6 966 U8
7 M 10 L NDSAY PFEIPPER
ship Dais. OP12I110
Fxpreas Mall Flat Res E-
$17A0
RESIDENCE
Weight liba Dan
waiver Of SigraNre
E
Bill Ta:
T1RZ-1a Pmtc a 1
6D4 w. Fob pops PLvry.
La Pane, TX 77571
Iavoio. d: 011 W3323
Del.: XMID
Page: 1
DATE
DESCRIPTION
AMOUNT
P jw Mern-lit Services, MOach2010
$2,000.00
Ra"bmsable enpenses as follevaa:
i2amo9
2rM2010
222/2010
Hour Messenger
USPS
Uses
$47,50
S17400
S34.80
"I-&e, R. Hill per baathrunt
$5.00
In house Lnpi.s & Binders 676 15 eaeh & 1911indam
$12CAD
tU house Paslpge
S0.44
Saba Tac
$0.00
Tmel krg-u
$2,352.14
-
Amount Applied;
$0.00
Balms D-
52,38214
"Cemis: OO.D.
USPS - Print Shipping Labels - Print ConSnnation
Page 2 of2
723 BAYRIDGE RD
rnm: 77M
LphN TnIDI
$17.40
. _. LA PORTE. TX 77571 3514
Express MaiiD Label Number. ED 9T1 627 032 US
8 of 10 1. CHESTER POOL
Shlp Dale: ro 10
Eepreas Mall Flat Rate Fm
$17,40
RESIDENCE
Wt,19 Lllbe pap,
WaivereSlgnatul
1710 ALVY DR
Min: MW
Leber Tow
wAzi
LA PORTE, TX 77571.g402
Express Mail$ Label Number: ED 071 027 029 US
9 of 10 + ALTON PORTER
Ship Date: 0=10
F press Mail Flat Rah Env
$17 40
PO BOX 652
LA PORTE. TX 77572-0562
Wesght lhb am
From, 770M
Wahauaslgnatea
Label Tow
617.40
6o,reas Ma10I bet Number. ED 9T7 827 U46 US
10 of l D om; NORMAN REED
Ship Date: 0MVI0
EPpreaa Mall Flat Ra[ Dtt
517.40
NORMAN REED
Weight: 11. Oita
1Nalver 9Signihm
34D N SAM HOUSTON PK
STE Too
From: Mile
Label T4LI
$IT.40
HOUSTON. TX 77 gii-3m
Express Mell4p Wbek Number. ED 971 4269131 US
Dom -aft Drder Total: $174.00
Thank yvv S0r.h00stag the URltad Stales P06ial 5arvloeaD
Requests flee package ekluip 6.m ynurrarler. Aeq_u_est Ca,aicr Pf.6up�:
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Print Coniirnlation Qp„anjpr P" mij,
Thank you for choosing the Unal States Postal 5arM14W&
Primed Domestic iah619
Tlanaa Cbnp: 162103288
Cher9ed to:AMEX'""---404S
Labels Induded:2
Print Dat9nlft: 222zi01103:16 PM CST
Standardized
6hipp..,Add-l7r
Pevkaga late
Service
Priae
iM2 - DAVE TURNOUIST
Shlp Date:02WHI
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51740
3222 SOMERTON DR
INelghl:l7pa Oaz
Wal-Dl8lgnawe
LA PORTE, TX 775713728
Fram:770a5
Lapel Tmel
t117.1a
6Rreas MaaD Label Number, EO 071.827 509 VS
2 of 2 ', RUSSELL PLANK
Ship Dete 02r4jlo
Fiyzeea Ma11 1.111l al
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Wslghl:llp a,x
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3320 S SAM HOUSTON P
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i17A0
HOUSTON. TX 77w-esD3
Fitproaa Mel7® Lebei Numpar', EO 971 627 680 US
Domestic Order Total: S34.So
rnenk you qor Dnooelnp ma unnna stelae Poalal sa,rl+�
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CUDt- loans and ehlpIing 9WpU,, are all "M yDUrixal Post OMW xran la anlared Doll,,.
Saw tEme mr-- Ont,re SeelL.ell-Adheslre LeMlsI Order PrwWWI1g ZUCVA®
Roler Ia Ym,=D H[s;far all peld lapels punted a Vln the last 6 months,
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0
PAYMENTS ALSO ACOEP I ED Bl�
��Fi
AMERICAN EXPPESS. MASTERCARD,
VI5A OR ELECTRONIC WIRE
TFIANSPEx15
_
281-497-2218
'.3750
51512 12/08/09
HAWES HILL CALDERON
10103 FONDREN STE 300
HOUSTON TX 77096
24/09
178821
FIRST SOUTRW
15.75
L/09
179028
ANDREWS KURT
23.30
VDO
179103
TIRZ
20
14.55
t/09
179104
TIRZ
20
14.65
J2/09
179105
TIRZ
20
13.00
D2/09
179106
TIRZ
20
13.00
D2/09
179108
TIRZ
20
13.00
-'Vat)
179110
TIRZ
20
26,00 ,
t/09
179111
TIRZ
20
14.65'I
✓09
172112
TIRZ
20
14.65
'/09
179113
TIRZ
20
13.00
32/02
179114
TIRZ
20
14.65
72/09
179115
TIRZ
20
1A_R5
,/09
179253
GSMD
14-55
179264
GS14D
13.00
/09
179265
GSMA
13,00
74/09
179265
GSMD
16.65
WOO
170287
GSMD
15-00
D4/09
17926e
GSMD
13,00
/09
179269
GSMD
14.65
/09__.,179270
GSMD
_ 13.09
/09
179271
GSHD
13,00
2/22/2010 .
FAYMRIIT
ry�I..t AMERICAN SEXPR SS, MASTERCAR[
i E L]En VISA ORELECTHONIG WIRE
TRANSFERS
281-497-2218
OEM
102750 51512 12/08/09
HAWES HILL CALDERON
10103 FONDREN STE 300
BALANCE DUE UPON RECEIPT.
AFTER 12/293/09, PAY $405_55
11/24/09 178821 FIRST SCUTHW 15.75
12/01/09 179029 ANDREWS KURT 23.30
12/02/09
179103
TIRZ
20
14.65
12/02/09
179104
TIRZ
20
14.65
12/02/09
179105
TIRZ
20
13.00
12/02/09
179166
TIRZ
20
13.00
12/02/09
170108
TIRZ
20
13.00
12/02/09
179110
TIRZ
20
2e-00
12/02/09
179111
TIRZ
20
14.25
12/02/09
179112
TIRZ
20
14.65
12/02/02
179113
TIRZ
20
13.00
12/02/09
179114
TIR7r
20
14.55
12/02/02
179115
TIRZ
20
10.65
12/04/012
179283
GSn
14.55
12/04/09
179264
GsmD
13.00
12/04/09
170265
GStfD
13.00
12/04/09
172286
GSMD
16.e5
12/04/09
179267
GSMD
15.00
12/04/09
1792613
GSMD
13.00
12/04/09
172269
GSMD
14.65
12/04/09
179270
GSMD
13.00
12/04/09
179271
GSMD
13.00
"Pon Receipt 11757 Katy FrWV • q Please return 11757 Katy Privy.
A Due Suite 900 ty
his portion with Suits 000
15 Days Houston TX 77079 39B. 05 payment to: HoustonTX7707E
H- Hill Cold.-LLP
P.O. sox 22157
H-al TX 17227-2167
sill To:
T1RZ-La Ppeiatl I
604 W. Fai-t Pkwy.
Le Porte, TX 77571
L-L. R: 00003585
Dale: 411a016
Page: 1
I
i
DATE
D55CRFMON
AMOUNT
Pmjeot Mwageuant Suvim4 April 2010
52.000.00
sdes7ax:
soxe
T.W Arr-t.
S2,000l
Ammon Applied;
S0.00
sa-Due;
S2.00000
398.05
Terms C.O.D.
— Hill Cold— LLP
I Boa 22167
.We TX 77227-2167
l—i.
Hawes Hill Calderon LLP
P.O. Box 23167
H—.TX 77227-2167
i To:
2Z -L. Porte # 1
r W. Pai}maol P1.y, Invoice#; 00903586
Pity TX 77571 D—; 51112*10
Page: I
DATE
DESCawii0N
AMOUNT
Reject Managett"t Services, My 2DIO
S2,1pp-pp
Sala lax:
$0.00
T.W Amooed:
$2,000.00
Amount Appiled:
$0.00
Bohn. D—
$2,000.00
Tams1 C.O.D.
LA -ro i c --fjr z
pU`c C71y H". Ef 9"o.uE
t_ :
04,2,
!
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02R2H0
USPS COW CUCK10W11WAS1-IN=14
.
9a03i47779 ..-
Pb
112l22,t0 -
USPS,GOM ClICv(7
8"D'W77]9
_
4750
av22l10
t1SPSC0W CUCK100611WASNINaTON
-
B0a8A4777a -
:XPEN5E DETAIL (ta P-W. Tipilif
VENDOF:IDESCRIPTIDN
OTY UPRICE TOTREIM.
FILL
DATE
CLILNT NO.
76 $ 0.500 $
30.UO
Y
03.74.2010
CLPllFBI
MOea tottrom . wi
$ 0.5vo $
CLPTIF01
$ "DO $
-
GLPTIFOi
TOTAL $
30 on
XPENBE DETAIL (Le Poste Tll"Ot
VENDORlDESCRIPTION
OTY PRTOT REkW BILL
DATE
04.21.2010
CL3ENT ND.
CL.PTIF01 Mifea atalhamm .W� w
jS 0 $
!6-5@
0 5
18,00
10.50CLPTIFOt
Y241
arkin
S
-
E
26.50
'E11SE PETAIL (La Porte nFo1j VENGOR10E5GRIPTION
OTY U PAICE TOT REIN.
SILL
RATE
GUEt1T NO.
iFroal9snk
20 $ 0.600 $
13.00
Y
5.04.2010
CLPT1F01 MIVea etolfmmm
76 $ DSDD $
30,Oo
Y
5.OS.2010
CLPTIF01 MOea atoltmm .wlCl
$ 0,50D $
CLPTIF01
TOTAL $
51.04
Hill To:
T1RZ-Ia Porie# 1
604 W. Pniimout Pkwy.
La Pon, TX 77571
lavoiw#: GON3614
Dnte: 6412010
Page: t
DATE
DESCRIPTION
AmouNT
PmjGGeManagquenlServices, loot 2010
Sz,000.00
6/3012610
Baatd nfl)uegors MxOng
$1,503.00
Reimbursable m pc.— as fellows:
2/22/2010
41=o10
5/24/2a 10
USPS
Pazk%g
Haur Maxnger
$47.50
S10.50
$iuo
4.65
b0leage, D. Rawcs Much
Mtleagy➢.Haws April
Mileagy D. Hawes May
$38.00
S28.50
$51.00
M. Tex;
sum
TomlAmount:
$3,690.15
AmonntApl,R.dL
Balanrc Due;
S3,690AS
1 Grms: l:.U.L.
ryt ! PAYMENTS ALSO ACCEPiLB BY. I
ME LR GER NdEVISA O ELrAN ECTRONIAC WIRE�O
i;.
PAYMENTS AL50 ACCEFTEO
ME �� AMERICAN EXPRESS, , MASTERC
i-nrCs GER VISA OR
TRANSFERS
DNIC WkRE
TRANSFERS
TRANSFERS
W 281-497-2218
_ 281.497-2218
OHM
102750 56472 OR/03/10
1C2750 66472 06/03/10
HA,WES RILL CAI.DERON
HAWES HILL CALDEROK
3,Gi.03 FONDEEN STE 300
10103 FOHDnE3 STE 3o0
HOUSTON TX 77096
BELANCE DUE UPON FEcEIPT. �
AFTER O6/18/10, PAY 277.75
05/19/10 1EG270 RERII3C RR -`8.107-5-7�4
189507 LA FORTE 14. 65
lag-PTO SPRING HA- 58.E
IKOH/24/10
18950- LA POSTE 14.E
Payable Upon Receipt 1+767-Katy Frwy. � � r PlGesy return '1i�7 Katy Frwy,
Past Due Suite S9B-tc;•O _2 75 this portion with
Svite990 tC�C
RBar 1$ Do Houstors TX 77079 - payment to: Houston TX 77079
La Porte Redevelopment Authority
Cash Flow Report, FY 2009-2010
Cleared
Bank Operating Account
Beginning fund balance, 101112909
1011512009 City of Le Porte
10/30/2009 Interest deposit (0.301%)
13/3oJ2009 Interest deposit (0.10%)
12/31/Z009 Interest deposit (0.15%)
1/29/2010 Interest deposit (C.10%)
2/26/2010 Interest deposit (0,1 0%)
3/31/2010 Interest deposit (0.101A)
4/30/2010 Interest deposit (0,20%)
5/31/2C10 Interest depos0 (0.20%)
6/10/2010 Hams County tax collections
6/22/2010 City of La Porte tax collections
612212010 LPISC tax collections
Total, revenues
Cleared
Bank Expenses
Checks paid:
11/23/2009 0117 Port Crossing LP
11/19/2009 #118 Hawes HIII Calderon LLP
2/25/2010 $120 Hawes Hill Calderon LLP
3/31/2o10 #119 Patile Brown & Hill LLP
Total, Checks paid
Checks outstanding
None
Total, Checks outstanding
Checks submitted torappmval 6/302010
4121 Patilllo, Brown & Hill LLP
#122 Hawes HIII Calderon LLP
Total, Checks submitted
Total expenses
Fund balance, Operating Account as of -June 30, 2010
Administration and Project Management
Legal
Agreed Upon Procedures Reports
Annual Audit
Operating Expenses
Bank Expenses
Reserve
Prior Year Increment Revenue owed to others
CEty Administration Lar 556
Total
$
285,520.84
—,,Y-ilRZ Payment
$
196,067,00
Interest
$
91.25
Interest
$
7120
Interest
$
35,70
Interest
$
28,41
IrNreat
$
22LOE
mtemst
$
25.13
Interest
$
42.59
l,4ereet
$
42.60
county TlRZ paymant
$
257,543.na
city TIRZ payment
$
582,670.33Z
MU TIRY payment
$
512,646.62/
$ 1,814,8C9.73
dev.leper rdmnursement
$
165,769.15
Irr, 3395, 34co, 34zz
$
7,937.24
Im 8510.3466, 3535
$
7,552.62
IM.dm Bonne eudn
$
3,00A00
$ 184,25991
3 -
d„dit finai lw.".
$
150,00
Imo—"5s5, s511, 3614
$
10,U72.29
TOTAL AVAILABLE FOR DISTRIBUTION 5.28.09
2009 Tax Year
Total Value in the TIR7 as of March 2010 (Value}
Less the Tax Increment Base (1999) Value
Total Increment Created
Lakes at Fairmont Green (Plat recorded 2/27/08)
65 La Porte
Retreat at Bay Forest N & 5 (Flat recorded 3/1slas)
Pon Crossing
Equals the Captured Appraised Value After New r'
Total
Check
$ 1,630,650.72
FY 2011
$
42,o00a0
-g
$
5,000.00
$
7,500.00
$
9,000.o0
$
3,000.00
$
60.00
$
100,000.00
$
152,232.00
$
54,766.00
$
373,558.00
$
1,246,770.43
$74,571,423
$7,395,080
$67,:m,343
w $589,147� x v (
0,877%
$
10,932,74
2,166,062 _
3324%��
$
40,195.40
v� 'f
0.356% ✓
$
4,443.32
r-$55,694,257 _
82.895%�
$
1,033,512.91
$a,497,434�
12.548%
$
157,686.06
10o.000%
$
1,246,770.43
LA PORTE TAX INCREMENT REINVESTMENT ZONE
STATE OF TEXAS )(
COUNTY OF HARRIS )(
CITY OF LA PORTE )(
NOTICE IS HEREBY GIVEN OF THE MEETING OF THE LA PORTE TAX INCREMENT REINVESTMENT ZONE TO
BE HELD ON DUNE 30, 2010 AT 6:30 P.M. IN CITY COUNCIL CHAMBERS, CITY HALL, 604 WEST FAIRMONT
PARKWAY, LA PORTE, TEXAS, REGARDING THE ITEMS OF BUSINESS ACCORDING TO THE AGENDA LISTED
BELOW:
1, Call to order — Lindsay Pfeiffer, President
2. Consider approval of the minutes of Board of Directors Meeting held on February 24, 2010;
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. Ratify signatures on bank consent document;
b. Receive and consider Sylvan Beach Development Agreement, by and between the REINVESTMENT ZONE NUMBER
ONE,CITY OF LA PORTE; the LA PORTE REDEVELOPMENT AUTHORITY; the CITY OF LA PORT; the LA
PORTE ECONOMIC DEVELOPMENT CORPORATION; and HARRIS COUNTY;
c. Receive and consider disbursement of Annual TIRZ Revenue pursuant to developer agreement;
d. Receive report with regard to debt financing for Port Crossing,
e. Receive staff report and updates with regard to Port Crossing, Lakes on Fairmont Green, Retreat at Bay Forrest
Development Project, and Preserve at Taylor Bayou;
f. Consider approval or other action with regard to authority invoices;
g. Board member comments with regard to matters appearing on agenda and inquiry of staff regarding specific factual
information or existing policy;
h. Adjournment.
THIS FACILITY HAS DISABILITY ACCOMMODATIONS AVAILABLE. REQUESTS FOR ACCOMMODATIONS OR
INTERPRETIVE SERVICES AT MEETINGS SHOULD BE MADE 48 HOURS PRIOR TO THIS MEETING, PLEASE
CONTACT CITY SECRETARY'S OFFICE AT 281-471-5020 OR TDD LINE 281-471-5030 FOR FURTHER
INFORMATION. A POSSIBLE QUORUM OF CITY COUNCIL MEMBERS MAY BE PRESENT AT THIS MEETING
AND PARTICIPATE IN DISCUSSIONS BUT WILL NOT TAKE ANY ACTION.
A POSSIBLE QUORUM OF CITY COUNCIL MEMBERS MAY BE PRESENT AT THIS MEETING AND PARTICIPATE
IN DISCUSSIONS BUT WILL NOT TAKE ANY ACTION.
David W. Hawes
Executive Director
Q-e'--Qs
Date Posted
La Porte Tax Increment Reinvestment Zone Number One,
City of LaPorte, Texas
Minutes of the Board Meeting
Held February 24, 2010
Call to order — Lindsay Pfeiffer, President
The Board of Directors of the La Porte Tax Increment Reinvestment Zone Number One, City
of La Porte, Texas, held a meeting, open to the public, on the 20 day of February, 2010; the
meeting was called to order at 7:13 p.m. in the City Council Conference Room of the 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
Position 1
Dave Turnquist
Position 2
Alton Porter
Position 3
Horace Leopard
Position 4
Doug Martin
Position 5
JJ Meza
Position 6
Lloyd Graham
Position 7
Chester Pool
Position 8
Lin Pfeiffer
Position 9 - Chairman
and all of the above were present except Director Graham and Pfeiffer, thus constituting a
quorum. Also present at the meeting were John Joerns, Stacey Osborne, and Scott Bean.
Consider approval of the minutes of the November 18, 2009 Board of Directors
meetings.
Upon motion made by Director Turnquist, seconded by Director Meza, the board voted
unanimously to approve the minutes as presented. Director Porter abstained from the vote
due to his absence at the November 18, 2009 meeting.
CONSENT AGENDA — ANY ITEM MAY BE REMOVED BY A BOARD MEMBER FOR
DISCUSSION
ENTERTAIN A MOTION AND A SECOND TO APPROVE THE TIRZ ITEMS IN
THE SAME FORM AND MANNER AS WAS APPROVED IN THE PREVIOUS
REDEVELOPMENT AUTHORITY MEETING
Upon a motion duly made by Director Porter and being seconded by Director Pool, the board
unanimously approved the consent agenda in the same manner and form as approved in the
Rerllevelnnment A11thnrity Rnard MPPtina §md ariiniirnarl nt 7.1d PX4
SIGNED;
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