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HomeMy WebLinkAbout01-26-04 La Porte Development Corporation Meeting OATH OF OmCE I. . do solemnly swear (or affirm). that I will faithfully execute the duties of the office of . of the City of La Porte, State of Texas, and will to the best of my ability preserve, protect and defend the constitution and laws of the United States and of this State and the Charter and ordinances of this City; aI?d I furthennore solemnly swear (or affirm) that I have not directly odndirectly paid, offered, or promised to contnbute any money. or valUable thing, or promised any public office or employment, as a reward to secure my appointment or the confumation thereof. So help me God. Sworn to and subscnbed before me this the day of Notary Public in and for the State of Texas _or.. MINUTES 0("- HE LA PORTE DEVELOPMENT C,- PORATION January 26, 2004 1. Call to Order/IntroDuctions President Pat Muston called the meeting to order at 5:03 p.m. Present: Ed Matuszak, Chuck Engelken, Bill Love, Pat Muston, Peter Griffiths and Deborah Johnson Members Absent: Bruce Meismer Others Present: City Manager Debra F eazelle, City Secretary Martha Gillett, Assistant City Manager/Finance Director Cynthia Alexander, Assistant City Manager John Joerns, Public Works Director Steve Gillett and Assistant Finance Director Mike Dolby 2. Consider approval of Minutes of Meeting of October 27, 2003 Peter Griffiths made a motion to approve the minutes as presented. Second by Bill Love. Motion carried unanimously. Ayes: Pat Muston, Chuck Engelken, Bill Love, Ed Matuszak, Deborah Johnson and Peter Griffiths Nays: None Abstain: None 3. Status Report of Capital Improvement Projects a. Bay Area Boulevard Public Works Director Steve Gillett provided Corporation Members with an overview and answered questions. Mr. Gillett noted that the delay on the Bay Area Boulevard project is due to legal reviews by PPG' s attorney. Due to operational constraints, the scheduled adjustment of pipelines will be delayed until early summer if the County does not receive recorded deeds for all right-of-way and easements by February. PPG is donating right-of-way and easements for the roadway, drainage outfall and trunk sewer. The City will participate and split the cost by paying 50%, or up to $4,053,500 for roadway and drainage construction. All cost associated with construction of the trunk sanitary sewer will be paid by the City. b. Canada Road The County has indicated that it will participate up to 50%; or $1,750,000. The City does not have an agreement with them yet. The County will not participate in the utility portion of the Canada Road project. There are some pipeline and HL&P adjustments that have to be completed. The city is in the process of obtaining estimates for adjustment costs. When completed, the City Council will consider agreements for adjustment. Adjacent property owners have donated all right-of- way for the southern portion of the Project. One small tract remains to be acquired for the northern stretch. Final design for roadway, drainage, signals and utilities is underway. La Porte Development Cori Ition - 1/26/04 - Page 2 4. Administer Oaths of Office City Secretary Martha Gillett administered the Oaths of Office to Deborah Johnson, Chuck Engelken and Peter Griffiths. Bruce Meismer was absent; therefore, his Oath will be administered at the next meeting. 5. Overview of Economic Development Projects An overview report of the Economic Development projects was provided in the packets. Additionally, the City has been researching hiring a consultant specializing in matching our community with our target market to help recruit a retail sector to diversify our revenue screen; so we do not have to burden the property tax base in La Porte. A presentation will be made to Council in the near future. Mr. Matuszak inquired about the status of the toll road on Fairmont Parkway. Assistant City Manager John Joerns informed Mr. Matuszak there will be a meeting on Thursday, January 29, 2004. Ms. Muston inquired about Sylvan Beach. Ms. Feazelle informed her that staff is still pursuing the project. 6. Review FY 2003-2004 Adopted Budget Assistant City Manager/Finance Director Cynthia Alexander noted a Financial Report will be presented at the next meeting. 9. Adjournment There being no further business to come before the Development Corporation, Vice President Matuszak motioned to adjourn and Committee Member Griffiths seconded. The meeting was duly adjourned at 5:50 p.m. Respectfully submitted, 1Yl ~~ () .1Iffi1 Martha A. Gillett City Secretary/La Porte Development Corporation Secretary Passed and approved on this ~ day of ~ I1Ili ~ 2004. /j U1 J:- feVtvl rtL{(ffrh--> Pat Muston, President CITY OF LA PORTE, TEXAS La Porte Development Corporation (Section 4B Sales Tax) Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual For the Year Ended September 30,2003 Variance with Final Budget Budgeted Amounts Actual Positive Original Budget Amounts (Negative) REVENUES Sales taxes $ 900,000 $ 900,000 $ 921,625 $ 21,625 Interest 49,810 49,810 34,209 (15,601 ) Total revenues 949,810 949,810 955,834 6,024 EXPENDITURES Current: Administration 205,000 205,000 205,000 Capital Outlay 1,515,000 1,515,000 62,645 1,452,355 Total expenditures 1,720,000 1,720,000 62,645 1,657,355 Excess (deficiency) of revenues over expenditures (770,190) (770,190) 893,189 1,663,379 OTHER FINANCING SOURCES (USES) Transfers in 315,730 315,730 (315,730) Transfers out (889,333) (743,500) (743,500) Total other financing sources (uses) (573,603) (427,770) (743,500) (315,730) Net change in fund balances (1,343,793) (1,197,960) 149,689 1,347,649 Fund balances-beginning 2,349,529 2,349,529 2,349,529 Fund balances-ending $ 1,005,736 $ 1,151,569 $ 2,499,218 $ 1,347,649 La Porte Development Corporation (Section 4B Sales Tax) Schedule of Revenues and Expenditures as of February 29, 2004 Current Variance Period Positive Budget Actual (Negative) REVENUES Sales taxes $ 232,470 $ 229,679 $ (2,791) Interest 14,125 8,412 (5,713) Total revenues 246,595 238,091 (8,504) EXPENDITURES Current: Administration 83,330 83,330 Capital Outlay Total expenditures 83,330 83,330 Excess (deficiency) of revenues over expenditures $ 163,265 $ 238,091 $ 74,826 SECTION 6 (Excerpt from Economic Development Sales Tax link from State Comptroller W ebsite) ;flic Development Sales Tax (96-302) pag~ submitting the report are available through the Comptroller's office or online at: http://www.window.state.tx.us/laga/ edcform.html. The Comptroller will use this information to report to the Legislature each biennium about the use of ~4A and ~4B sales tax revenues to encourage economic development. Can you undertake projects outside city limits? 'V An economic development corporation may undertake projects outside city limits so long as "1" it is clear that the city benefits from the project. If a city undertakes a project outside its limits, it must receive permission to do so from the governing body of the entity with jurisdiction in that area. For example, if a city locates a project beyond city limits, it should receive approval from the county's commissioners court. How do you impose the tax? City voters must approve this special, dedicated tax - just like all other sales tax options. Call for an Election Cities may call for this election in two ways: . the governing body may call an election on its own; or . the city must call for the election if petitioned by at least 20 percent of the number of voters who cast ballots in the most recent regular municipal election. The city's governing body must adopt an ordinance calling for the election at least 62 days before it is held. The election must be held on one of the uniform election dates according to V.T.C.A., Election Code ~41.001: . the first Saturday in February; . the third Saturday in May; . the second Saturday in September; or . the first Tuesday after the first Monday in November. How long is the tax effective? Under ~4A A tax approved without ~ limit on its duration is effective until repealed by an election. A city may call an election to repeal the tax in the same way as an election to change the rate of the tax. A tax imposed for a specified period expires at the end of that period. A city imposing a tax for a specified period may extend the period or reimpose the tax after its expiration date only with voter approval. . \ A tax for a specific project expires when all debts related to the project and obligations from http://www.window.state.tx.us/taxinfo/taxpubs/tx96 _ 302.html 8/27/2003 + Compensation of Officers 4.07. The officers shall not receive any salary or compensation for their services. Officers may be reimbursed for their actual expenses incurred in the performance of their duties. Travel expenses shall be reimbursed under the City's travel policy. ARTICLE V TRANSACTIONS OF THE CORPORATION Contracts 5.01. The Board of Directors may authorize any officer or agent of the Corporation to enter into a contract or execute and deliver any instrument in the name of or on behalf of the Corporation. This authority may be limited to a specific contract or instrument or it may extend to any number and type of possible contracts and instruments. Depository Bank 5.02. All funds of the Corporation shall be deposited with the City's depository bank. Potential Conflicts of Interest 5.03. The members of the Board of Directors are local public officials within the meaning of Texas Local Government Code Chapter 171. If a director has a substantial interest in a business entity or real property which is the subject of deliberation by the Board of Directors, the director shall file an affidavit with the secretary of the Corporation stating the nature and extent of the interest. Such affidavit shall be filed prior to any vote or decision upon the matter by the Board of Directors, and the interested director shall abstain from any vote or decision upon the matter. Council Approval 5.04. The Board of Directors shall obtain prior City Council approval of all real estate acquisitions, real estate leases for over one year and or any long-term leases; contracts, expenditures, or debts over $15,000.00; and bond issues or other debt extending beyond one year. The Board of Directors shall have the authority to enter into all other budgeted transactions without prior City Council approval. Amendments to the budget must be approved by the City Council. * 6 CITY OF LA PORTE DEVELOPMENT CORPORATION 604 W. FAIRMONT PKWY, LA PORTE, TEXAS 77571 To: President and Board Members Debra Feazelle, City Manager John J oems, Assistant City Manager Michael Dolby, Assistant Finance Director Martha Gillett, City Secretary j From: Cynthia Alexander, Assistant City Manager ~~ Date: March 1, 2004 Subject: Reschedule of 4B Board Meeting The next meeting of the La Porte Development Corporation has been rescheduled for Thursday, March 4, 2004 at 5:00 p.m. The meeting will be held in the Council Chambers at La Porte City Hall. The agenda has not changed. If you have any questions please call Gay Collins at (281) 471-5020 ext 229. Snacks will be provided.