HomeMy WebLinkAbout01-11-16 Meeting of the La Porte Development Corporation Board of DirectorsRIC HARD WARREN, PRESIDENT MIKE CLAUSE N, BOARD MEMBER
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MIKE COOKSLEY, VICE PRESIDENT 9 RANDY WOODARD, BOARD MEMBER
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CHUCK ENGELKEN, BOARD MEMBER � NANCY OJEDA, BOARD MEMBER
JAY MARTIN, BOARD MEMBER
MINUTES OF LA PORTE DEVELOPMENT CORPORATION BOARE>
MEETING OF JANUARY 11, 2010
The City of La Porte Development Corporation Board met on January 11, 2010, at the City Hall Council
Chambers, 604 West Fairmont Parkway, La Porte, Texas, at S=00 p_m_ to consider the following items of
business:
1 _ CALL TO ORDER
President Richard Warren called the meeting to order at 5:00 p.m_ The following members of the
La Porte E3evelopment Corporation Board were present: Vice -President COOksley, Board members
Clausen, Engelken, Woodard, Martin and Ojeda. Staff Present: Corby Alexander, Traci Leach,
Patrice Fogarty, Scott Livingston, and Clark Askins_
2_ CONSENT (A// consent agenda items are considered routine by the La Porte oeve/opment Corporation Board
and wi// be enacted by one motion. There wi// be no separate discussion of these items un/ess a Board member
requests an item be removed and considered separate/y.)
(a) Consider approval or other action of minutes of the La Porte development Corporation Board
meeting held cm 14, 2015 — P_ Fogarty
Vice -President Cooksley moved to approve minutes of the La Porte development Corporation Board
meeting held on December 14, 2015_ Board member Woodard seconded_ MOTION PASSED
UNANIMOUSLY 7/O_
(b) Receive Financial Report — S. Livingston
Economic development Coordinator Scott Livingston provided the Financial Report_
Board member Clausen moved to approve the Financial Report_ Vice -President Cooksley seconded.
MOTION PASSEU UNANIMOUSLY 7/0_
3_ AUTHORIZATIONS
This item was taken out of order_
(c) Consider approval Or other action to adopt proposed amendments to the Bylaws of the La Porte
development Corporation and forward proposed amendments to the corporation's by-laws to the
City Council for consideration — S_ Livingston
Economic Development Coordinator Scott Livingston presented a summary_
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January 11, 2016, La Porte Development Corporation Boarcl Minutes
Board member Woodard moved to amend the Bylaws and increase authorized expenditures up to
$50,000.00. Board member Ojeda seconded. MOTION PASSED UNANIMOUSLY 7/0.
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(a) Consider approval or other action authorizing an enhancement grant in an amount not to exceed
$42,057.86 payable to Brotamonte Asset 1, LLC., and associated development agreement, for
infrastructure improvements to apartment building complex located at 315 N. 2nd Street with payment
to be remitted at the completion of the project — S. Livingston
Economic Development Coordinator Scoff Livingston presented a summary.
Edwin Brotamonte provided a presentation on the project.
Board member Woodard moved to approve Option A, Traditional for an enhancement grant in an
amount not to exceed $42,057.86 payable to Brotamonte Asset 1, LLC., and associated development
agreement, for infrastructure improvements to apartment building complex located at 315 N. 2nd Street
with payment to be remitted at the completion of the project. Board member Ojeda seconded. MOTION
PASSED.
Ayes: Vice -President Cooksley, Board members Woodard, Engelken
and Ojeda
Nays: President Warren, Board members Martin and Clausen
Absent: None
(b) Consider approval or other action authorizing an incentive grant in an amount not to exceed
$250,000.00 payable to Fischer's Hardware, Inc., and associated development agreement, for
infrastructure improvements to property located at 1010 S. Broadway, Street, with payment to be
remitted at the completion of the project - S. Livingston
Economic Development Coordinator Scott Livingston presented a summary and advised Fischer's
Hardware, Inc., estimates $611,559.28 investment to upgrade and request an incentive grant not to
exceed $250,000.00.
Board member Woodard moved to give to the project 25% of $611,559.28 payable to Fischer's
Hardware, Inc., and associated development agreement, for infrastructure improvements to property
located at 1010 S. Broadway, Street, with payment to be remitted at the completion of the project.
Board member Martin seconded. MOTION PASSED.
Ayes: President Warren, Vice -President Cooksley, Board members
Woodard, Clausen and Martin
Nays: Board members Ojeda and Engelken
Absent: None
(c) Consider approval or other action to adopt proposed amendments to the By -Laws of the La Porte
Development Corporation and forward proposed amendments to the corporation's by-laws to the
City Council for consideration — S. Livingston
Authorization Item c was taken out of order. See item above.
SET DATE FOR NEXT MEETING
Board members set the next meeting date for Monday, February 8, 2016, and Monday,
March 14, 2016, at 5:00 p.m.
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January 11, 2016, La Porte Development Corporation Board Minutes
5. BOARD MEMBER COMMENTS regarding matters appearing on agenda; recognition of community
members, city employees, and upcoming events; inquiry of staff regarding specific factual information
or existing policies.
Board member Ojeda commented she is glad Fischer's is cleaning the facility; her only problem is
paying for interior furniture; equipment and fixtures. In addition, Board member Ojeda commented
she is excited about the Sylvan Beach Apartments and knows former Councilmember Moser would
be proud.
6. ADJOURN
There being no further business, Board member Woodard moved to adjourn the meeting at 5A5 p.m.
Vice -President Cooksley seconded. MOTION PASSED UNANIMOUSLY 7/0.
Respectfully submitted,
, 04& COi�
Patrice Fogarty, Cy ecreta
Passed and approved on this 8th day of February 2016.
President Richard Warren
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January 11, 2016, La Porte Development Corporation Board Minutes