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Home My WebLink About05-24-07 Meeting of the La Porte Redevelopment Authority minutes La Porte Redevelopment Authority, City of La Porte, Texas Minutes ofthe Board Meeting ReId May 24, 2007 1. CALL TO ORDER AND DETERMINA TrON OF A QUORUM The Board of Directors of the La Porte RedeveloprnentAuthority, City of La Porte, Texas, held a meeting, open to the public, on the 24th day of May 2007, and meeting was called to order at 6:38 p.m. in the La Porte Recreation and Fitness Center, 1322 South Broadway, La Porte, Texas 7751 and the roll was called of the duly appointed members of the Board, to wit: Peggy Antone Dave Turnquist Alton Porter Horace Leopard Doug Martin JJ Meza Michael Say Chester Pool Lin Pfeiffer Position 1 Position 2 Position 3 Position 4 Position 5 Position 6 Position 7 Position 8 Position 9 - Chairman and all of the above were present except Director Antone, and Director Meza, thus constituting a quorum. Also present at the meeting were John Joerns, David Hawes, Gretchen Black, Norman Reed, and Russell Plank. 2. CONSIDER APPROVAL OF THE J\1INUTES OF THE FEBRUARY 28, 2007 BOARD OF DIRECTORS MEETING Upon a motion duly made by Director Say and being seconded by Director Porter, the board unanimously approved the minutes of February 28,2007 3. CONSIDER APPROVAL OR OTHER ACTION REGARDING THE PUBLIC FUNDS DEPOSITOR COLLATERAL SECURITY AGREEMENT WITH AMEGY NATIONAL BANK ASSOCIATION Mr. Hawes gave the board an overview regarding the need for Public Funds Depositor Collateral Security Agreement. Upon a motion duly made by Director Martin and being seconded by Director Pool, the board unanimously approved the Public Funds Depositor Collateral Security Agreement. 4. CONSIDER APPROVAL OR OTHER ACTION REGARDING A PROPOSAL BY HAWES lULL CALDERON LLP TO PROVIDE PROFESSIONAL SERVICES RELATED TO THE ADMINISTRATION OF TIlE LA PORTE REDEVELOPMENT AUTHORITY AND TAX INCREMENT REINVERSTMENT ZONE Mr. Joems and Mr. Hawes gave an overview of the Agreement. Upon a motion duly made by Director Say and being seconded by Director Leopard, the board unanimously approved the agreement. 5. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO PAY REQUESTS ON BEHALF OF THE PORT CROSSING TIRZ PROJECT. . PAY REQUEST NUMBER ONE IN THE AMOUNT OF $6,090,116.79 c- . PAY REQUEST NUMBER TWO IN THE AMOUNT OF $2,892,333.90 Mr. Joems and Mr. Hawes gave an overview of the pay requests. Upon a motion duly made by Director Porter and being seconded by Director Turnquist, the board unanimously approved the pay requests. .... 6. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO CHANGE ORDER NO. 1 IN THE AMOUNT OF $334,707.40 TO THE ANGEL BROTHERS CONTRACT IN PORT CROSSING COMl\tlERCE CENTER. THE CHANGE ORDER INCLUDES UPGRADES TO THE LIFT STATION, ADDING- HEADW ALLS IN LIEU OF RIP RAP, STORM SEWER PIPE ADJUSTMENTS, AND THE EXTENSION OF THE 12-INCH WATER MAIN Mr. Joems and Mr. Hawes gave an overview of the change order. Upon a motion duly made by Director Leopard and being seconded by Director Martin, the board unanimously approved the change order. - 7. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO EXHIBIT B TO TIRZ DEVELOPMENT AGREEMENT WITH PORT CROSSING AND AMEND DEVELOPMENT AGREEMENT TO REFLECT CHANGES - Mr. Joems and Mr. Hawes gave an overview of the amendment to the Development Agreement. Upon a motion duly made by Director Say and being seconded by Director Pool, the board unanimously approved the amendment to - the Development Agreement. 8. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO PAY REQUESTS FOR THE LAKES OF_ FAIRMONT GREENS TIRZ PROJECT RELATED TO OFF SITE IMPROVEMENTS KNOWN AS THE SOUTH LA PORTE TRUNK SEWER PROJECT - . PAY REQUEST NUMBER ONE . PAY REQUEST NUMBER TWO - . PAY REQUEST NUMBER THREE MIl> . ENGINEERING AND PROFESSIONAL COSTS ( Mr. Joems and Mr. Hawes gave an overview of the pay requests. Upon a motion duly made by Director Pool and being seconded by Director Turnquist, the board unanimously approved the pay requests. .. 9. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO AN AGREEMENT BY AND BETWEEN THE CITY OF LA PORTE, TEXAS AND THE LA PORTE REDEVELOPMENT AUTHORITY FOR THE - MANAGEMENT OF THE LA PORTE PUBLIC IMPROVEMENT DISTRICT NUMBER ONE Mr. Joems and Mr. Hawes gave an overview of the Agreement. Upon a motion duly made by Director Martin and being seconded by Director Leopard, the board unanimously approved the agreement. - 10. CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO AUTHORITY INVOICES - Mr. Hawes gave an overview of the invoices. Upon a motion duly made by Director Say and being seconded by Director Martin, the board unanimously approved the agreement ~ 11. STAFF REPORT AND UPDATES - Mr. Joems introduced Gretchen Black the new Economic Development Manager. Mr. Joems also spoke to the board with regard to the need for signalization at Wharton Weems and State Highway 146. It was recommended that the board meet the fourth Wednesday of each month. 12. BOARD MEMBER COMMENTS l_ There were no board comments - 13. ADJOURNMENT - Upon a motion duly made by Director Pool and being seconded by Director Leopard, the board unanimously approved the motion to adjourn at 7:24 PM. 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I '7 'II n f'\ ~ C c<1> oE ,- <1> 1a~00 0....00 .g 0.00 4:,Eoo ~ _ 0_ o. ~~()')Q) ....._ tJ'J-fh C(/) <1> I co~ a ,g c 'i %00 o~ '"7 "O,D. .....p'=' ~otn ._0 (/)~ i: a o mo roO 08 o ,go) -o.iI't ~ - 'CO o 0)0 0)' -00 ::JO co 0_ ()') "itJ'J- .~ .... o .s ~ tI) c:: CD 4 CD u.l (; ':) ~ ~t Oe~'~ ... )( (,) CI) "a G)'o ~ u-t-~c. ..- ..- e o -! 't""- ~ 0 51 .:i' Q.. ~ ell 55~a i> z. ::J (/) o 0- o \- oIS i~ ._ -0 ~c CI)::J tnS SC .- tG CIl(/) =- o~ 4(/) x.~ ala o o d o o oi tit a '0 \- b o C'l c-i :z:. ::J -, '0 ~ c o '.;::0 ~ E .... o C - 1M HUTCHISON & ASSOCIATES . . . ; ,. 1209 DeCker.D rive, Suite 100 ". :,. Baytown, TX 77520 . (281)422-8213 voice (281)420-2717 fax INVOICE Ion Design Group 2800 N~ Henderson Ave., Studio rOO Dallas, TX 75206 Attn: Bryan Klein Contract for: 5353 Lakes at Fainnont Greens; Construction Administration & Plat - 2791 SUrvey Boundary &. Tapa Professional Services Onsifs Servrces Onsite Construction Administration Plat Fee Boundary & Topa Survey Construction Staking Sales Tax on Boundary RelmburseabJe . Record Research $107.71 x 1.1 Prel Review Fee $410.00 x 1.1 Fee % Complete Fee Earned $16,615.00 0.00% $ $ 2,000.00 50.00% $ 1,000.00 $ 20,000.00 15.00% $ 3,000.00 $ 12,500.00 0.00% $ . $. 269.78 100.00% $ 269.78 Prior Billing $ $ $ $ $ $ 118.48 $ 451.00 100.00% $ 116.48 $ 100.00% $ 451.00 $ Onsite Services Offsite Services Offsite Construction Administration Boundary & Topa Survey $13,385.00 $ 9,000.00 0.00% $ $ 15.00% $ 1,350.00 $ Offsile Services TOTAL INVOICE AMOUNT Payment Tenns: Net 30 - ... - Dat~ 113/06 - Invoice Number 14711 - - Current fee ,'. $. $ 1,000.00 $ 3.000,00 . $ $ 269.78 $ 118.48 $ 451.00 $ 4,839.26 .. .. - - $ $ $ - 1,350.00 < 1.350.00 - $ 6,189.26 - - - _HUTCHISON & ASSOCIATES - -: -, ,_ 1209 Decker Drive, Suite 100 - ::- BaytoWllt TX 77520 , - _ (281)422-8213 voice (281)420-2717 fax I ,- I I-- I i ,-- _ Ion Design Group 2800N. Henderson Ave., Studio' 100 . Dallas,-'fX 75206 .- Attn:Bryan Klein INVOICE Date 3/15/06 Invoice Number 14768 Contract for: 5353 Lakes at Fairmont Greens; Construction Administration & Plat - 2791 - Survey BoundarY & Tapa _ Professional Services Service Onsite Services - Onsite Construction AdminIstration Plat Fee Boundary & Tepa Survey _ COnstruction Staking , Sales Tax on Boundary Refmburseable Record Research $107.71 x 1.1 - Prel Review Fee $410.00 x 1.1 Record Research $463.58 x 1.1 Offsite ServIces Offsite Consiruction Administration Boundary & Topa Survey ~ayment Terms: Net 30 Fee % Complete _Fee Eamed Prior Billing Current Fee $16.615.00 0.00% $ $ $ $ 2,000.00 50.00% $ 1,000.00 $ 1,000.00 $ $20.000.00 70~OO% $ '11,300.00 '$ 3,000.00 $ 8,300.00 $ 12.500.00 0.00% $ $ $ $ 269.78 100.00% $ 269.78 $ 269.78 $ $ 118.48 $ 451.00 $ 509.93 100.00% $ 118.48 $ 100.00% $ 451.00 $ 100.00% $ 509.93 $ Onsite -Services 118.48 $ 451.00 $ $ $ 509.93 B,8j)~.93 $13.385.00 $ 9.000.00 0.00% $ $ 100.00%$ 9,000.00 $ Offsite Services $ 1,350.00: $ $ - 7,650.00 .( 7,650.DO TOTAL INVOICE AMOUNT $ 16,459.93 , ~$ 0 ~-o ~ 0> co ~ EO> t-~ <:rt!) cp.. 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N ..... .... u) .... ~ l/) CI) CI) LL CJ C 'i: CI) CI) C '0, C W - - - - - - DEVELOPMENT AGREEMENT - Between - REINVESTMENT ZONE NUMBER ONE CITY OF LA PORTE - and - - LA PORTE REDEVELOPMENT AUTHOroTY - and - RETREAT AT BAY FOREST LP - - -- l - - HOU:2322718.7 DEVELOPMENT AGREEMENT This Agreement ("Agreement"), effective , 2007, is made by and between REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, TEXAS ("La Porte Zone"), a tax increment reinvestment zone created by the City of La Porte, Texas (the "City") pursuant to Chapter 311 of the Texas Tax Code, as amended, acting by and through its governing body, the Board of Directors (the "Zone Board"), LA PORTE REDEVELOPMENT AUTHORITY ("La Porte Authority"), a local government corporation created and organized under the provisions of the Texas Transportation Corporation Act, Chapter 431, Subchapter D, Transportation Code, and authorized and approved by the City pursuant to Resolution No. adopted on , acting by and through its governing body, the Board of Directors (the "La Porte Board") and RETREAT AT BAY FOREST LP, a Texas limited partnership (the "Developer") . RECITALS WHEREAS, by Ordinances No. _ the City Council of the City created the La Porte Zone in the City pursuant to Chapter 311 of the Texas Tax Code, as amended, and pursuant to a Preliminary Project Plan and Preliminary Reinvestment Zone Financing Plan, and appointed its Board of Directors ("TIRZ Ordinance"); and WHEREAS, the Zone Board adopted a [mal Project Plan and Reinvestment Zone Financing Plan (the "Proiect Plan") and submitted the final Project Plan to the City Council of the City for approval; and \ WHEREAS, the City Council approved the [mal Project Plan by Ordinance No._; and WHEREAS, the City authorized the creation of the La Porte Authority to aid, assist and . act on behalf of the City in the performance of the City's governmental functions with respect to the common good and general welfare of La Porte and neighboring areas as described in the TIRZ Ordinance; and WHEREAS, the City, the La Porte Zone and the La Porte Authority have entered into that certain Agreement dated , and approved as Ordinance No. _ (the "La Porte Agreement"), pursuant to which the City and the La Porte Zone contracted with the La Porte Authority to administer the La Porte Zone including, but not limited to, the power to engage in activities relating to the acquisition and development of land, to construct and improve infrastructure in La Porte, to enter into development agreements with developerslbuilders in La Porte, and to issue, sell or deliver its bonds, notes or other obligations in accordance with the terms of the La Porte Agreement upon the approval of the City Council of the City; and WHEREAS, the La Porte Agreement further provides that the La Porte Authority must obtain the prior approval of the City for any project approved in the La Porte Zone's Project Plan that is constructed or caused to be constructed by the La Porte Authority; and HOU:2322718.7 WHEREAS, the Texas Tax Code provides that the La Porte Zone may enter into agreements as the Zone Board co.nsiders necessary or convenient to implement the Project Plan and achieve its purposes; and WHEREAS, the La Porte Board and the Zone Board have determined that it is in the best interest of the La Porte Zone and the La Porte Authority to contract with the Developer, in order to provide for the efficient and effective implementation of certain aspects of the Project Plan; and The Developer desires to proceed with the development of an urban project consisting of residential, commercial, industrial and retail on land located within the La Porte Zone (the "Project") prior to the time that the La Porte Authority can issue its bonds or incur other obligations to pay the costs of the Public Improvements (as defined herein); NOW THEREFORE, AGREEMENT For and in consideration of the mutual promises, covenants, obligations, and benefits of this Agreement, the La Porte Zone, the La Porte Authority and the Developer contract and agree as follows: ARTICLE 1 GENERAL TERMS ( 1.1 Definitions. The terms "Agreement," "City," "Developer", "La Porte Agreement" "La Porte Board" "La Porte Authority" "La Porte Zone" "Project" and "Zone , , , , J' Board" have the above meanings, and the following terms have the following meanings: "Act" shall mean the Tax Increment Financing Act, Chapter 311, Texas Tax Code, as amended. "Authority Bonds" shall mean the La Porte Authority's tax increment revenue bonds issued in one or more series pursuant to Section 6.1(H) of this Agreement. "Available Tax Increment" shall mean funds in the Tax Increment Revenue Fund. "Completion" shall mean completion of construction of the Public Improvements in accordance with the Plans and Specifications so that the Project can be used and maintained for its intended purposes. Completion shall be approved by the City and certified by the engineering firm engaged by Developer to make such certification. l "Contract Progress Payment" shall mean the payment due to a contractor or consultant hired by Developer to complete the Public Improvements. A contract progress payment must be supported not only by a report of a certified public accountant as required in Section 6.1 (B), but also by customary documentation including, but not limited to, the name and address of the contractor, a description of the contract pursuant to which the payment is requested, the amount of such payment, the original contract amount, total payments made to date on such contract, an 2 HOU:2322718.7 .. - - - - - - - - - - - .. .... - - .. - - estimate of remaining work to be completed, the cost of such work, and customary lien and subcontractor releases. "County" shall mean Harris County, Texas. "Developer Advances" shall mean any funds advanced for Project Costs by the Developer pursuant to Section 6.1 of this Agreement and shall include any interest payable thereon as prescribed in this Agreement. "Parties" or "Party" shall mean the La Porte Zone, the La Porte Authority and the Developer, the parties to this Agreement. "Plans and Specifications" shall mean the designs, plans and specifications for the Public Improvements prepared or to be prepared by engineering and landscape architect firms at the direction of Developer in accordance with the Project Plan and as approved by the City in accordance with Section 4.2. "Pledged Available Tax Increment" shall mean the Available Tax Increment attributable to the Project. \. "Property Account" means an account within the Tax Increment Revenue Fund established by the City to account for the tax increment attributable to the Project Site, the proceeds of Authorized Bonds issued to finance Public Improvements pursuant to this Agreement, and other obligations issued pursuant to Article 6, and earnings from the investment of such amounts. "Project Costs" shall mean the cost of the Public Improvements. "Project Plan" means the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number One, City of La Porte, as approved by the City Council on , and as thereafter amended and approved by the City Council. "Project Site" shall mean the area known as described in Exhibit A, and all improvements located thereon. , located in certain tracts "Public Improvements" shall have the meaning provided in Article 3 of this Agreement. "State" shall mean the State of Texas. "Tax Increment Revenue Fund" shall mean the special fund established by the La Porte Authority and funded with payments made by the City and any other participating Taxing Units, pursuant to the La Porte Agreement, which payments are attributable to ad valorem property taxes paid on the Project Site. "Taxing Unit" shall mean individually and collectively, the City and any other taxing units participating in the La Porte Zone. (-- 3 HOU:2322718.7 1.2 Singular and Plural. 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. ARTICLE 2 REPRESENTATIONS 2.1 Representation of La Porte Authority. The La Porte Authority hereby represents to the Developer that: (A) The La Porte Authority 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) The La Porte Authority has the power, authority and legal right to enter into and perform this Agreement and the execution, delivery and performance hereof (i) have been duly authorized, (ii) to the best of its knowledge, will not violate any applicable judgment, order, law or regulation, and (iii) do not constitute a default under, or result in the creation of, any lien, charge, encumbrance or security interest upon any assets of the La Porte Authority under any agreement or instrument to which the La Porte Authority is a party or by which the La Porte Authority or its assets may be bound or affected. /- ~. (C) The Project, the Public Improvements and the Project Costs are components of or are consistent with the Project Plan. (D) This Agreement has been duly authorized, executed and delivered by the La Porte Authority and, constitutes a legal, valid and binding obligation of the La Porte Authority, enforceable in accordance with its terms except to the extent that (i) the enforceability of such instruments may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws of general application in effect from time to time relating to or affecting the enforcement of creditors' rights and (ii) certain equitable remedies including specific performance may be unavailable. (E) The execution, delivery and performance of this Agreement by the La Porte Authority does not require the consent or approval of any person which has not been obtained. (F) The La Porte Authority has an exemption from the payment of sales and use taxes pursuant to the statute under which the La Porte Authority was created. 2.2 Representation of La Porte Zone. The La Porte Zone hereby represents to the Developer that: ( (A) The La Porte Zone 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. 4 HOU:2322718.7 - - - ~ - - - - - - - - - - - - - - (B) The La Porte Zone has the power, authority and legal right to enter into and perform this Agreement and the execution, delivery and performance hereof (i) have been duly authorized, (ii) to the best of its knowledge, will not violate any applicable judgment, order, law or regulation, and (iii) do not constitute a default under, or result in the creation of, any lien, charge, encumbrance or security interest upon any assets of the La Porte Zone under any agreement or instrument to which the La Porte Zone is a party or by which the La Porte Zone or its assets may be bound or affected. (C) The Project, the Public Improvements and the Project Costs are components of or are consistent with the Project Plan. (D) This Agreement has been duly authorized, executed and delivered by the La Porte Zone and constitutes a legal, valid and binding obligation of the La Porte Zone, enforceable in accordance with its terms except to the extent that (i) the enforceability of such instruments may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws of general application in effect from time to time relating to or affecting the enforcement of creditors' rights and (ii) certain equitable remedies including specific performance may be unavailable. (E) The execution, delivery and performance of this Agreement by the La Porte Zone does not require the consent or approval of any person which has not been obtained. 2.3 Representations of the Developer. The Developer hereby represents to the La Porte Authority and the La Porte Zone that: (A) The Developer is duly authorized, created and existing in good standing under the laws of the State and is qualified to do business in the State. (B) The Developer has the power, authority and legal right to enter into and perform its obligations set forth in this Agreement, and the execution, delivery and performance hereof, (i) have been duly authorized by requisite corporate action, (ii) will not, to the best of its knowledge, violate any judgment, order, law or regulation applicable to the Developer or any provisions of the Developer's by laws or limited partnership agreement, and (iii) do not constitute a default under or result in the creation of, any lien, charge, encumbrance or security interest upon any assets of the Developer under any agreement or instrument to which the Developer is a party or by which the Developer or its assets may be bound or affected. (C) The Developer will have sufficient capital to perform its obligations under this Agreement at the time it needs to have sufficient capital. C' (D) This Agreement has been duly authorized, executed and delivered and constitutes a legal, valid and binding obligation of the Developer, enforceable in accordance with its terms except to the extent that (i) the enforceability of such instruments may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws of general application in effect from time to time relating to or 5 HOU:2322718.7 affecting the enforcement of creditors' rights and (ii) certain equitable remedies including specific performance may be unavailable. ARTICLE 3 THE PUBLIC IMPROVEMENTS 3.1 Public Improvements. The Public Improvements shall be and include the design, construction and installation of certain public infrastructure relating to the Proj ect, such infrastructure being more particularly described in the Plans and Specifications. 3.2 Proiect Costs. The estimated Project Costs of the Public Improvements are described in Exhibit B. The Public Improvements will be developed pursuant to the Plans and Specifications and a schedule that is mutually agreeable to the Parties. The Project Costs shall include all architectural, engineering, design, legal and other consultant fees and expenses (as further set forth in Section 6.1(A) hereof) related to such Public Improvements. The Project Costs may be modified with approval of the Board of Directors of the La Porte Authority. 3.3 Obligation. The Public Improvements shall be designed, acquired, constructed and implemented in accordance with the Plans and Specifications to be approved by the City under Article 4. ARTICLE 4 DUTIES AND RESPONSffiILITIES OF THE DEVELOPER /" ~ 4.1 Construction Manager. Subject to Article 3, the Developer agrees to construct the Public Improvements as described in the Plans and Specifications and to provide and furnish, or cause to be provided and furnished, all materials and services as and when required in connection with the construction of the Public Improvements. The Developer will obtain all necessary permits and approvals from the City and all other governmental officials and agencies having jurisdiction (including the approvals required under the La Porte Agreement), provide supervision of all phases of construction of the Public Improvements, provide periodic reports as may be reasonably requested and required by the La Porte Authority from time to time of such construction to the La Porte Board with copies to the City, and cause the construction to be performed in accordance with the Plans and Specifications. l 4.2 Design of the Public Improvements. The Developer shall prepare or cause to be prepared the Plans and Specifications for the Public Improvements. Prior to the commencement of construction or implementation of the Public Improvements, the Plans and Specifications must be submitted to and approved by the City and all other regulatory authorities having jurisdiction. Once the City has approved the Plans and Specifications, no changes thereto can be made without the express written approval of the City, the Zone Board, and the La Porte Authority. 4.3 Completion. On the later of completion of the construction of the Public Improvements or thirty days after this Agreement is executed, Developer shall provide the La Porte Authority and the City with a final cost summary of all costs associated with such Public Improvements, a certificate of Completion and evidence that all amounts owing to contractors and subcontractors have been paid in full evidenced by customary affidavits executed by such contractors. 6 HOU:2322718.7 - - - IJIllIIIliIII' - ~ - - - - - ,WIlli; - - 4.4 Conveyance of Easements. If applicable, the Developer shall grant the City and the La Porte Authority all required temporary construction and access easements necessary to maintain the Public Improvements. The easements granted must be satisfactory for the intended purpose as determined by the City. On property owned by the La Porte Authority, the La Porte Authority shall grant the Developer at no cost all required temporary construction and access easements necessary to install the Public Improvements. 4.5 Payment of Fees. If applicable, Developer agrees to pay any monthly rates and charges for water and sewer services and shall pay all applicable City building permit fees for the Public Improvements. 4.6 Cooperation. Developer agrees that it will cooperate with the La Porte Zone and the La Porte Authority and Developer will provide all necessary information to the La Porte Authority and its consultants in order to assist the La Porte Authority in complying with the La Porte Agreement, including, without limitation, the completion of the audit and construction audit required therein. 4.7 Ad Valorem Taxes. The Developer agrees that all real property within the Project Site will be valued for taxation in accordance with Section 23.01, Texas Tax Code and as hereinafter may be amended, and that it will not request such property to be valued for taxation on the basis of inventory as permitted by Section 23.12, Texas Tax Code and as hereinafter may be amended. 4.8 Design and Completion of Public Improvements prior to Effective Date. Prior to ( the effective date of this Agreement, the Developer has committed and expended funds in amounts for Public Improvements described in Exhibit B, in reliance upon the City's commitment to establish the Zone and the La Porte Authority's commitment to payor reimburse such costs in accordance with the terms herein, but no other contract has heretofore been entered into by the Developer with the La Porte Authority or the La Porte Zone to provide for such expenditures and reimbursement. The Developer represents that the fair market value of the work and property resulting from the funds so committed or expended and benefiting the La Porte Authority and the La Porte Zone is at least equal to the amounts so committed and expended, respectively. In order to compromise and settle all claims the Developer may have arising out of any failure by the La Porte Authority and La Porte Zone to reimburse funds heretofore expended by the Developer for such Public Improvements, by entering into this Agreement, (A) the La Porte Authority and the La Porte Zone agree to reimburse the Developer for Project Costs of such Public Improvements paid or incurred prior to the date hereof in a total amount of committed funds specified in Exhibit B plus fmancing costs and/or interest as set forth in Section 6.1 below, attributable thereto in accordance with and subject to the other provisions hereof, without admitting liability of any kind on their part, and (B) the Developer releases and discharges the La Porte Authority and the La Porte Zone from all claims of any nature the Developer might make, now or in the future, arising out of any failure by the La Porte Authority and La Porte Zone to payor 7 HOU:2322718.7 /-- (, (- reimburse the Developer for any other work done prior to the date hereof or in any greater amount or on any other conditions for work performed in connection with Public Improvements prior to the date hereof. 4.9 Changes in Proiect. The Developer shall not make any change in the Project as to the uses of the property or change the boundaries within the Project Site without the express written consent of the City, the La Porte Board and the Zone Board. 4.10 No Vested Rights. The Developer expressly understands and agrees that neither this Agreement nor any approvals required herein shall be construed as a "permit," as defined in Section 245.001 of the Texas Local Government Code, or an application therefor; and, as such, the Developer has no vested right as a "permit" in any order, regulation, ordinance, rule, expiration date or other requirement in effect at the time of execution of this Agreement or at the time any approval pursuant to the terms hereof is obtained. To this end, Developer, for itself, its officers, agents, employees, successors and assigns, hereby releases and holds harmless the City, the La Porte Authority and the La Porte Zone from any claim or cause of action involving vested rights, including, but not limited to, such a right claimed pursuant to Chapter 245 of the Texas Local Government Code, arising out of this Agreement or the approvals required to be obtained herein. ARTICLE 5 DUTIES AND RESPONSIBILITIES OF THE LA PORTE AUTHORITY 5.1 La Porte Authority Contributions. The La Porte Authority shall payor reimburse to Developer the Project Costs in the amount of the actual costs of the Public Improvements as more particularly described in and as provided by Articles 3 and 4. The total, actual Project Costs of the Public Improvements, for which the Po Authority shall be responsible under the terms of this Agreement, is estimated to be $11,,,, ,000. Attached hereto as Exhibit B is a detailed description of the engineering estimates ~e lie Improvements. The Project Costs shall be financed and funded in accordance with Article 6 hereof. In the event a portion of the Public Improvements is determined to be ineligible under the Act, the Project Costs shall be reduced by the amount of such ineligible Public Improvements. If the La Porte Authority has already repaid Developer for such ineligible Public Improvements in accordance with this Agreement, the Parties agree that Developer shall reimburse the La Porte Authority for such repayment within thirty (30) days of receipt of an invoice from the La Porte Authority and all such sums shall bear interest at the rate established in Section 6.1(F) from the date past due until the date of such reimbursement. Should the Developer fail to timely pay such amount, the La Porte Authority may, in its sole discretion, withhold the amount due, including accrued interest, from future Contract Progress Payments. 5.2 Proiect Costs. The La Porte Authority shall payor reimburse the Project Costs in accordance with this Agreement. In the event the La Porte Authority does not have funds available at the time all or part of the Project Costs are payable by the La Porte Authority in accordance with this Agreement, the Project Costs shall be funded in accordance with Article 6 hereof, and such funding shall not be deemed a default by the La Porte Authority under this Agreement. 8 HOU:2322718.7 - - - - - - - - - - - - - - - ARTICLE 6 PUBLIC IMPROVEMENTS FINANCING AND FUNDING 6.1 Developer Advances. (A) Developer shall advance sufficient funds as such become due for all costs compnsmg the Project Costs including, without limitation, all costs of design, engineering, materials, labor, construction, and inspection arising in connection with the Public Improvements, including all payments arising under any contracts entered into by Developer pursuant to this Agreement, all costs incurred in connection with obtaining governmental approvals, certificates or permits (including any building permit fees) required as a part of any contracts entered into in accordance with this Agreement and all related legal fees incurred in connection therewith. ( (B) The Developer must submit, within sixty (60) days after the latest of recording a final plat of property within the Project Site, signing this Agreement, or completing an identifiable segment of Public Improvements not subject to the platting requirements of the City, a request for a Contract Progress Payment when an identifiable segment of Public Improvements has been completed. Documentation of cost and completion shall be forwarded to the La Porte Authority. The La Porte Authority, at its expense, shall hire a certified public accountant to calculate the amount due Developer and shall prepare and submit, within a reasonable time, a report to the La Porte Board and send a copy to the City Manager. Requests for Contract Progress Payments shall be submitted only when an identifiable segment of Public Improvements has been completed and shall be submitted no more often than once every sixty (60) days. If the La Porte Authority does not have sufficient funds to pay any Contract Progress Payment within 30 days of the date the certified public accountant's report is received by the La Porte Board, Developer shall be deemed to have advanced such amount to the La Porte Authority as of the date actually expended by the Developer. Interest (as defined in Subsection 6. 1 (F)) on each Developer Advance made pursuant to this Subsection shall accrue from the date the Developer expended the funds and shall accrue for a maximum period of five (5) years from such date. At such time as funds are available to pay all or any portion of the Developer Advances made hereunder, the La Porte Authority, at its expense, shall hire a certified public accountant to calculate the amount due Developer and shall prepare and submit a report to the La Porte Board and send a copy to the City Manager certifying (1) the amount due Developer for the Developer Advances being repaid with interest calculated thereon as specified herein and (2) that funds are available to make such payment. Upon receipt of such report, the La Porte Board shall promptly authorize and make payment to Developer. (C) If, upon Completion of the Public Improvements and conveyance of the Public Improvements to the La Porte Authority, or the City, as applicable, the La Porte Authority does not have sufficient funds to reimburse to Developer the unpaid balance of the Project Costs, Developer shall be deemed to have advanced to the La Porte Authority an amount equal to the difference between (i) the amount of the Project Costs which has been previously paid by the La Porte Authority to Developer and (ii) the final cost of the 9 HOU:2322718.7 Public Improvements as evidenced by documentation approved by the La Porte Board in accordance with Section 4.3. (D) Each Developer Advance shall be evidenced by a certificate in the form attached hereto as Exhibit C. (E) The La Porte Authority shall begin repaying the Developer Advances, and shall continue such repayment until repaid in full, on the earliest date that funds are available from any of the following sources. (1) (2) proceeds of any applicable bank loan; proceeds from the sale of applicable La Porte Authority Bonds; or (3) the available Tax Increment Revenue Fund attributable to the Project. (F) Subject to the limitations described in Section 6.1 (B) hereof, interest on each Developer Advance shall accrue at the prime rate of JPMorgan Chase Bank. 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 or 366 days, as applicable, and the actual days elapsed (including the first day but excluding the last day). In no case shall the interest rate exceed one percent per month. (/ \ (G) The La Porte Authority's obligation to pay the Developer Advances or reimburse the Developer for Project Costs is limited to any Pledged Available Tax Increment. The rights of Developer in and to the Pledged Available Tax Increment granted herein are subject only to (i) the rights of any holders of bonds, notes or other obligations that have been heretofore or are hereafter issued by the City or any other participating taxing unit that are payable from and secured by a general levy of ad valorem taxes throughout the taxing jurisdiction of the City or any other participating taxing unit, (ii) the rights of any of the holders of bonds and notes that are hereafter issued or incurred by the La Porte Authority and which are secured by a pledge of the Tax Increment Revenue Fund, and (iii) the rights of any of the holders of notes that are hereafter issued or incurred by the La Porte Authority, which are secured by a pledge, all or a part, of the Tax Increment Revenue Fund, the proceeds of which are used solely to fund the annual operating and administration budget of the La Porte Authority approved by the La Porte Board and the City Council of the City. Except in the event that sufficient tax increment increase does not occur within the term of the Zone or within the Project Site to generate sufficient revenue to repay the Developer Advance(s), it shall be the obligation of the La Porte Authority to repay the Developer Advances and accrued interest thereon as set forth in this Agreement from the Pledged Available Tax Increment until such time as the Developer Advances and accrued interest thereof incurred pursuant to this Agreement, have been fully repaid or provision for payment thereon to Developer shall have been made in accordance with their terms. The Developer Advances constitute a special obligation of the La Porte Authority payable solely from the Pledged Available (- 10 HOU:2322718.7 - - - - - - - - - - - - - - - - Tax Increment as and to the extent provided in this Agreement. The Developer Advances do not give rise to a charge against the general credit or taxing powers of the La Porte Authority, the La Porte Zone, the City, the County or any other Taxing Unit and is not payable except as provided in this Agreement. Developer, its successors and assigns, shall not have the right to demand payment thereof out of any funds of the La Porte Authority other than the Pledged Available Tax Increment or sources described in Section 6.1(E). (H) The La Porte Authority will evaluate and consider bond Issues to reimburse the Developer upon the following circumstances: (1) Projected incremental revenue generates 1.25 times coverage for the bonds over projected annual debt service; (2) Projected incremental revenue will be calculated by multiplying estimated or certified incremental value from the appraisal district by the participant(s) tax rate(s) divided by 100 times one minus a reasonable historical tax collection factor times one minus the City set aside percentage; (3) A reserve fund equal to maximum annual debt service must be funded from the bond proceeds; (4) Adequate cash or capitalized interest must be set aside to assure payment of the bonds through the date of the next increment payment; and ( (5) The minimum bond size will be that size that after funding the Reserve Fund, any capitalized interest and any costs of issuance will allow for a reimbursement to the developer of at least $1.5 million plus developer interest. (I) The La Porte Authority shall not issue obligations in accordance with this Article unless the resulting debt service requirements on all La Porte Zone obligations may be paid in full when due from all money then on deposit in or thereafter required to be deposited to the Property Account during the term of such Zone obligations, assuming that (a) the rates at which property taxes are levied by all taxing units required to make deposits to the Tax Increment Fund do not change from the rates at which they most recently levied property taxes, (b) the assessed value of taxable property (net of exemptions) within the Property does not change from the amount then most recently estimated or certified by the Harris County Appraisal District, (c) all amounts deposited (or required to be deposited) to the Property Account bear interest at the City's investment rate until expended, (d) proceeds of such obligations are deposited to and set aside in the Property Account as capitalized interest in the amount requested by the Developer and approved by the City Manager, and (e) the Property Account is expended in each year to pay administrative expenses of the La Porte Zone in an amount equal to the product of (i) the total amount of such expenses budgeted in the La Porte Zone's most recent operating budget and (ii) a fraction, the numerator of which is the current Tax 11 HOU:2322718.7 Increment attributable to the Property and the denominator of which is the total current Tax Increment. (J) The La Porte Authority shall provide to Developer, upon the written request of Developer, and on the earliest date such information is available after the date of such request, certified copies of all statements of revenue attributable to the Developer's portion of the Project and the source of such revenue of the La Porte Zone and of the La Porte Authority the intended use of which is to verify the availability of funds for payment of the Project Costs or Developer Advances, if applicable, under this Section. (K) The La Porte Zone and the La Porte Authority shall use commercially reasonable efforts to cause each Taxing Unit to collect all ad valorem taxes due on property located within the La Porte Zone and shall use commercially reasonable efforts to cause such Taxing Units to deposit all tax increments due with the City for transfer to the Tax Increment Revenue Fund pursuant to the La Porte Agreement. ARTICLE 7 INSURANCE: RELEASE ( 7.1 Insurance. With no intent to limit any contractor's liability or obligation for indemnification, the Developer shall require that each contractor providing work or service on the Public Improvements provide and maintain certain insurance in full force and effect at all times during the construction of the Public Improvements and shall require that the City, the La Porte Authority, and the La Porte Zone are named as additional insured's under such contractor's insurance policies. The insurance, at a minimum, must include the following coverage's and limits of liability: Coverage Limit of Liability Worker's Compensation Statutory Employer's Liability Bodily Injury by Accident $100,000 (each accident) Bodily injury by Disease $500,000 (policy limit) Bodily injury by Disease $100,000 (each employee) Comprehensive General Liability: Including Broad Form Coverage, Contractual Liability, Bodily and Personal Injury, and Completed Operations (for a period of one year after completion of work) Bodily Injury and Property Damage, Combined Limits of $500,000 each Occurrence and $1,000,000 Aggregate (- Automobile Liability Insurance (for automobiles used in performing under this Agreement, including Employer's $500,000 Combined Single Limit per Occurrence 12 HOU:2322718.7 - - - - - - - - - - - - - - - - - - - Non Ownership and Hired Auto Coverage) Professional Liability Coverage (for professional service contract only) $500,000 per occurrence $1,000,000 aggregate Defense costs are excluded from the face amount of the policy. Aggregate Limits are per 12 month policy period unless otherwise indicated. If the amount of any contract awarded by Developer to construct the Public Improvements shall exceed $1,000,000, Developer shall contract with the contractor to maintain Commercial General Liability coverage and the Auto Liability coverage for at least twice the combined minimum limits specified above. The amounts of the insurance required herein shall be reviewed on the fifth (5th) anniversary date of this Agreement and each fifth (5th) year thereafter until the construction of the Project is completed and shall be increased, if necessary, so that the amount of such coverage is at all times generally equal to the limits described herein measured in year 2006 dollars. (A) Form of Policies. The La Porte Board may approve the form of the insurance policies, but nothing the La Porte Board does or fails to do relieves Developer of its obligation to provide the required coverage under this Agreement. The La Porte Board's actions or inactions do not waive the La Porte Zone's or La Porte Authority's rights under this Agreement. ( (B) Issuers of Policies. The issuer of each policy shall have a certificate of authority to transact insurance business in Texas or a Best's rating of at least A and a Best's Financial Size Category of Class VI or better, according to the most current edition Best's Key Rating Guide, Property Casualty United States. --'.. (C) Insured Parties. Each policy, except those for Workers' Compensation, Employer's Liability, and Professional Liability, must name the La Porte Authority, its officers, agents and employees as additional insured parties on the original policy and all renewals or replacements. (D) Deductibles. Developer shall be responsible for and bear (or shall contract with each applicable contractor to bear and assume) any claims or losses to the extent of any deductible amounts and waives (and shall contract with each contractor to waive) any claim it may have for the same against the La Porte Authority or La Porte Zone, its officers, agents, or employees. (E) Cancellation. Each policy must state that it may not be canceled, materially modified, or non-renewed unless the insurance company gives the La Porte Authority 30 days' advance written notice. Developer shall (and shall contract with each contractor to) give written notice to the La Porte Authority within five days of the date on which total claims by any party against such person reduce the aggregate amount of coverage below the amounts required by this Agreement. In the alternative, the policy 13 HOU:2322718.7 may contain an endorsement establishing a policy aggregate for the particular Public Improvements or location subject to this Agreement. (F) Subrogation. Each policy must contain an endorsement to the effect that the issuer waives any claim or right of subrogation to recover against the La Porte Authority, the La Porte Zone, its officers, agents, or employees. (G) Primary Insurance Endorsement. Each policy, except Workers' Compensation and Professional Liability (if any), must contain an endorsement that the policy is primary to any other insurance available to the additional insured with respect to claims arising under this Agreement. (H) Liability for Premium. Developer shall pay (or shall contract with contractors to pay) all insurance premiums for coverage required by this Section, and the La Porte Authority or La Porte Zone shall not be obligated to pay any premiums. (1) Subcontractors. Notwithstanding the other provisions of this Section, the amount of coverage contracted to be provided by subcontractors shall be commensurate with the amount of the subcontract, but in no case less than $500,000 per occurrence. Developer shall provide (or shall contract with contractors to provide) copies of insurance certificates to the La Porte Authority. '( (J) Proof of Insurance. Promptly after the execution of this Agreement and from time to time during the term of this Agreement at the request of the La Porte Authority, Developer shall furnish the La Porte Authority with certificates of insurance maintained by Developer in accordance with this Section. If requested in writing by the La Porte Authority, Developer shall furnish the City with certified copies of Developer's actual insurance policies. If Developer does not comply with the requirements of this Section, the La Porte Authority, at its sole discretion, may (1) suspend performance by the La Porte Authority hereunder and begin procedures to terminate this Agreement for default or (2) purchase the required insurance with La Porte Authority or La Porte Zone funds and deduct the cost of the premiums from amounts due to Developer under this Agreement. The La Porte Authority shall never waive or be estopped to assert its right to terminate this Agreement because of its acts or omissions regarding its review of insurance documents. 7.2 Indemnification and Release. (,- DEVELOPER SHALL DEFEND, INDEMNIFY, AND HOLD THE LA PORTE AUTHORITY, THE CITY AND THE LA PORTE ZONE, THEIR AGENTS, EMPLOYEES, OFFICERS, AND LEGAL REPRESENTATIVES (COLLECTIVELY, THE "INDEMNIFIED PERSONS") HARMLESS FOR ALL CLAIMS, CAUSES OF ACTION, LIABILITIES, FINES, AND EXPENSES (INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS' FEES, COURT COSTS, AND ALL OTHER DEFENSE COSTS AND INTEREST) FOR INJURY, DEATH, DAMAGE, OR LOSS TO PERSONS OR PROPERTY SUSTAINED IN CONNECTION WITH OR INCIDENTAL TO PERFORMANCE UNDER THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, THOSE CAUSED BY: 14 HOU:2322718.7 - - - - - - - - - - - - - (A) DEVELOPER'S AND/OR ITS AGENTS', EMPLOYEES', OFFICERS', DIRECTORS', CONTRACTORS', OR SUBCONTRACTORS' (COLLECTIVELY, "DEVELOPER'S") ACTUAL OR ALLEGED SOLE AND/OR CONCURRENT NEGLIGENCE OR INTENTIONAL ACTS; ; (B) THE INDEMNIFIED PERSONS' AND DEVELOPER'S ACTUAL OR ALLEGED CONCURRENT NEGLIGENCE AND/OR GROSS NEGLIGENCE, WHETHER DEVELOPER IS IMMUNE FROM LIABILITY OR NOT; AND (C) THE INDEMNIFIED PERSONS' AND DEVELOPER'S ACTUAL OR ALLEGED STRICT PRODUCTS LIABILITY OR STRICT STATUTORY LIABILITY, WHETHER DEVELOPER IS IMMUNE FROM LIABILITY OR NOT. IT IS THE EXPRESSED INTENTION OF THE PARTIES HERETO THAT THE INDEMNIFICATION PROVIDED FOR IN THIS SECTION IS AN INDEMNITY BY THE DEVELOPER TO INDEMNIFY AND PROTECT THE INDEMNIFIED PERSONS FROM THE CONSEQUENCES OF THE INDEMNIFIED PERSONS' OWN NEGLIGENCE, INCLUDING GROSS NEGLIGENCE, WHERE THAT NEGLIGENCE IS A CONCURRING CAUSE OF THE RESULTING INJURY, DEATH OR DAMAGE. FURTHERMORE, THE INDEMNITY PROVIDED FOR IN THIS PARAGRAPH SHALL HAVE NO APPLICATION TO ANY CLAIM, LOSS, DAMAGE, CAUSE OF ACTION, SUIT AND LIABILITY WHERE THE INJURY, DEATH OR DAMAGE RESULTS FROM THE SOLE NEGLIGENCE OF THE INDEMNIFIED PERSONS UNMIXED WITH THE F AUL T OF ANY OTHER PERSON OR ENTITY. THE INDEMNITY PROVIDED FOR IN THIS SECTION 7.2 SHALL SURVIVE THE TERMINATION OR EXPIRATION OF THIS AGREEMENT. If an Indemnified Person or Developer receives notice of any claim or circumstance which could give rise to an indemnified loss, the receiving party shall give written notice to the other party within 30-days. The notice must include a description of the indemnification event in reasonable detail, the basis on which indemnification may be due, and the anticipated amount of the indemnified loss. This notice shall not estop or prevent an Indemnified Person from later asserting a different basis for indemnification or a different amount of indemnified loss than that indicated in the initial notice. If an Indemnified Person does not provide this notice within the 30-day period, it does not waive any right to indemnification except to the extent that Developer is prejudiced, suffers loss, or incurs expense because of the delay. For those matters for which the Developer has the obligation to defend an Indemnified Person pursuant to this Section 7.2, Developer shall assume the defense of the claim at its own expense with counsel chosen by it that is on the approved list established by the Texas Municipal League or that is otherwise approved by the City. Within 10 days after receiving written notice of the indemnification request, Developer shall advise the Indemnified Person as to the chosen counsel. If Developer does not properly notify the Indemnified Persons as required above, the Indemnified Person shall assume and control the defense, and all defense expenses actually incurred by it shall constitute an indemnified loss, which must be paid by the Developer within thirty (30) days of receipt of an invoice from an Indemnified Person. Such indemnified loss shall 15 HOU:2322718.7 bear interest at the rate, but not the time, established in Section 6.1 (F) from the due date noted in the invoice until the date of payment. Should the Developer fail to timely pay such amount, the La Porte Authority may, in its sole discretion, withhold the amount due, including accrued interest, from future Contract Progress Payments. If Developer defends a claim against any Indemnified Person, the Indemnified Person may retain separate counsel at the sole cost and expense of such Indemnified Person to participate in (but not control) the defense and to participate in (but not control) any settlement negotiations. Developer may not settle the claim without the consent or agreement of the Indemnified Person, unless such settlement is at no cost to the Indemnified Person and no judgment is entered against any Indemnified Person. ( DEVELOPER RELEASES EACH INDEMNIFIED PERSON FROM ALL LIABILITY FOR INJURY, DEATH, DAMAGE, OR LOSS TO PERSONS OR PROPERTY SUSTAINED IN CONNECTION WITH OR INCIDENTAL TO PERFORMANCE UNDER TillS AGREEMENT, EVEN IF THE INJURY, DEATH, DAMAGE, OR LOSS IS CAUSED BY THE INDEMNIFIED PERSON'S SOLE OR CONCURRENT NEGLIGENCE AND/OR THE INDEMNIFIED PERSON'S STRICT PRODUCTS LIABILITY OR STRICT STATUTORY LIABILITY; PROVIDED, HOWEVER, TillS RELEASE SHALL HAVE NO APPLICATION TO AN INDEMNIFIED PERSON'S FAILURE TO PAY MONIES OWED PURSUANT TO TillS AGREEMENT. FROM AND AFTER THE DATE OF TillS AGREEMENT, DEVELOPER SHALL REQUIRE ALL CONTRACTORS ENGAGED BY IT TO CONSTRUCT PUBLIC IMPROVEMENTS (AND THEIR SUBCONTRACTORS) TO RELEASE AND INDEMNIFY THE INDEMNIFIED PERSONS TO THE SAME EXTENT AND IN THE SAME FORM AS ITS RELEASE OF AND INDEMNITY TO THE INDEMNIFIED PERSONS HEREUNDER. THE DEVELOPER SHALL REQUIRE ALL GENERAL CONTRACTORS TO POST PAYMENT AND PERFORMANCE BONDS IN THE AMOUNT OF THE PROJECT COST AND ONE YEAR MAINTENANCE BONDS AS DEEMED APPROPRIATE BY THE LA PORTE AUTHORITY. ARTICLE 8 DEFAULT 8.1 Default. l (A) If the La Porte Authority or the La Porte Zone does not perform its obligations hereunder in compliance with this Agreement in all material respects, in addition to the other rights given the Developer under this Agreement, the Developer may enforce specific performance of this Agreement for any such default if such default is not cured or is not commenced and diligently pursued within thirty (90) days after receipt by the La Porte Authority and the La Porte Zone of a written notice detailing the event of default. Failure of a project to generate sufficient tax increment increase to repay 16 HOU:2322718.7 .....- - ... - - - - - - Developer Advances is not a default on the part of the La Porte Authority or the La Porte Zone. (B) In the event the Developer completes the Public Improvements and the Project but does not otherwise perform its obligations hereunder as provided in Article 4 in compliance with this Agreement, in addition to the other rights and remedies the La Porte Authority and the La Porte Zone may have under this Agreement or in law or equity, the La Porte Authority and/or the La Porte Zone may enforce specific performance or seek actual damages incurred for any such default if such default is not cured within thirty (30) days after receipt by Developer of a written notice of default or such cure is not commenced within ten (10) days after receipt by Developer of a written notice of default and thereafter diligently prosecuted to completion as determined in the discretion of the La Porte Authority. ARTICLE 9 GENERAL ( 9.1 Inspections, Audits. The Developer agrees to keep such operating records relating to the Public Improvements as may be required by the La Porte Authority, or by state and federal law or regulation for a period not to exceed four (4) years after completion unless otherwise required by law. The Developer shall allow the La Porte Authority and the La Porte Zone access to documents and records in the Developer's possession, custody or control that the La Porte Authority deems necessary to assist the La Porte Authority in determining the Developer's compliance with this Agreement. 9.2 Developer Operations and Employees. No personnel supplied or used by the Developer in the performance of this Agreement shall be deemed employees, agents or contractors of the La Porte Authority, the La Porte Zone or the City for any purpose whatsoever. The Developer shall be solely responsible for the compensation of all such personnel, for withholding of income, social security and other payroll taxes and for the coverage of all worker's compensation benefits. Under no circumstance shall the La Porte Authority, the La Porte Zone, or the City be deemed responsible for compensation of the above. 9.3 Personal Liability of Public Officials. To the extent not limited by State law, no director, officer, employee or agent of the La Porte Zone or the La Porte Authority, and no officer, employee or agent of the City, shall be personally responsible for any liability arising under or growing out of the Agreement. 9.4 Notices. Any notice sent under this Agreement (except as otherwise expressly required) shall be written and mailed via certified mail, return receipt requested, or sent by electronic or facsimile transmission confirmed by mailing written confirmation via certified mail, return receipt requested . 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: 17 HOU:2322718.7 CITY City Manager City of La Porte 604 West Fairmont Parkway La Porte, Texas 77571 FAX: 281-842-1259 - with a copy to: - /- ( City Attorney City of La Porte 604 West Fairmont Parkway La Porte, Texas 77571 FAX: (281) 471-2047 LA PORTE ZONE Reinvestment Zone Number One, City of La Porte, c/o City of La Porte 604 West Fairmont Parkway La Porte, Texas 77571 Attn: John Joerns FAX: (281) 471-2047 LA PORTE AUTHORITY La Porte Redevelopment Authority c/o City of La Porte 604 West Fairmont Parkway La Porte, Texas 77571 Attn: John Joerns FAX: (281) 471-2047 DEVELOPER Retreat at Bay Forest LP 16000 Memorial Drive #100 Houston, Texas 77079 FAX: (713) 910-1111 Attn: Donald J. Meeks - - - - - - 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 City, the La Porte Zone, the La Porte Authority or the Developer, as the case may be. - l 9.5 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 La Porte Zone, the - 18 - HOU:2322718.7 La Porte Authority and the Developer. No course of dealing on the part of the Developer, nor any failure or delay by the Developer with respect to exercising any right, power or privilege of the Developer under this Agreement shall operate as a waiver thereof, except as otherwise provided in this Section. 9.6 Successors and Assigns. All covenants and agreements contained by or on behalf of the La Porte Authority and the La Porte Zone in this Agreement shall bind their successors and assigns and shall inure to the benefit of the Developer and its successors and assigns. The La Porte Authority and the La Porte Zone may assign its rights and obligations under this Agreement or any interest herein, with the prior written consent of the Developer. The Developer may sell or otherwise transfer the Project with the prior written consent of the La Porte Authority and the La Porte Zone. Provided, however, any such purchaser or assignee must speCifically assume all of the obligations of the Developer hereunder; notwithstanding, if the Developer is in compliance with this Agreement prior to the assignment, the Developer may retain the right to be reimbursed for actual costs of Proj ect Costs, which are then accrued and vested in the Developer. If such assignment of the obligations by the Developer hereunder is effective, the Developer shall be deemed released from such obligations. If any assignment of the obligations by the Developer hereunder is deemed ineffective or invalid, the Developer shall remain liable hereunder. Nothing in this section shall be construed so as to prevent the Developer from selling any portion of the Project for which a final plat has been approved and recorded in the records of the county clerk. 9.7 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 hereto. 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. 9.8 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. 9.9 Venue. All parties hereby irrevocably agree that any legal proceeding arising out of or in connection with this Agreement shall only be brought in the District Courts of Harris County, Texas or in the United States District Court for the Southern District of Texas, in Houston, Texas. 9.10 Severability. All parties agree that should any provision of this Agreement be determined to be invalid or unenforceable, such determination shall not affect any other term of this Agreement, which shall continue in full force and effect. 9.11 No Third Party Beneficiaries. This Agreement shall not bestow any rights upon any third party, but rather, shall bind and benefit the Parties hereto only. 19 HOU:2322718.7 9.12 Authority to Enter Contract. Each party has the full power and authority to enter into and perform this Agreement, and the person signing this Agreement on behalf of each party has been properly authorized and empowered to enter into this Agreement. The persons executing this Agreement hereby represent that they have authorization to sign on behalf of their respective corporations, or limited partnerships. 9.13 No Partnership. Nothing herein contained shall be construed or held to make the Parties hereto partners in the conduct of any business. 9.14 Entire Agreement. This written agreement represents the final agreement between the parties, unless later amended in writing and signed by 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. 9.15 Ambiguities. In the event of any ambiguity in any of the terms of this Agreement, it shall not be construed for or against any party hereto on the basis that such party did or did not author the same. (' 9.16 Non-Waiver. Failure of either party hereto to insist on the strict performance of any of the agreements contained herein or to exercise any rights or remedies accruing hereunder upon default or failure of performance shall not be considered a waiver of the right to insist on and to enforce by an appropriate remedy, strict compliance with any other obligation hereunder or to exercise any right or remedy occurring as a result of any future default or failure of performance. 9.17 Multiple Originals. It is understood and agreed that this Agreement may be executed in a number of identical counterparts each of which shall be deemed an original for all purposes. 9.18 Term. This Agreement shall be in force and effect from the date of execution hereof for a term expiring on the later of (i) December 31 in the year following Completion of the Public Improvements pursuant to Section 4.3 hereof or (ii) the date the Developer Advances have been repaid in full. It is expressly understood and agreed that Section 7.2 shall not expire but shall remain in full force and effect regardless of the termination of this Agreement. If the La Porte Authority is dissolved, the La Porte Agreement requires that the City shall make satisfactory arrangements to provide for the payment of the obligations to the Developer of the La Porte Authority hereunder. 9.19 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 withheld or delayed. 9.20 Additional Actions. The Parties agree to take such actions, including the execution and delivery of such documents, instruments, petitions and certifications as may be necessary or appropriate, from time to time, to carry out the terms, provisions and intent of this Agreement and to aid and assist each other in carrying out said terms, provisions and intent. l 20 HOU:2322718.7 - - - - .... - - - - - - - - - - - - - - IN WI1NESS WHEREOF, the parties hereto have caused this instrument to be duly executed as of the _ day of , 2007. REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE By: Name: Title: ATTEST: By: Name: Title: THE STATE OF TEXAS S S COUNTY OF HARRIS S BEFORE ME, the undersigned authority, on this day personally appeared , known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed. 2007. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the _ day of Notary Public in and for The State of Texas (SEAL) 21 HOU:2322718.7 ( '- ( - LAPORTE REDEVELOPMENT AUTHOIDTY .... -. By: Name: Title: - ATTEST: - By: Name: Title: - THE STATE OF TEXAS ~ ~ ~ COUNTY OF HARRIS BEFORE ME, the undersigned authority, on this day personally appeared , known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed. - GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the _ day of - 2007. - Notary Public in and for The State of Texas (SEAL) - - 22 HOU:2322718.7 DEVELOPER RETREAT AT BAY FOREST LP, a Texas limited partnership By: Donald J. Meeks THE STATE OF TEXAS S S COUNTY OF HARRIS S BEFORE ME, the undersigned authority, on this day personally appeared , known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed. 2007. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the _ day of ( Notary Public in and for The State of Texas (SEAL) (- 23 HOU:2322718.7 / I \ ( - - EXHIBIT A - PROJECT SITE (property Description) - - - - - - - - - - - - - A-I HOU:2322718.7 EXHIBIT B THE TIRZ IMPROVEMENTS Unit Estimated South Cost Cost 24" RCP 14 LF $ 70.00 $ 980.00 24" HDPE 37 LF $ 36.00 $ 1,332.00 Pilot Channel 324 LF $ 26.66 $ 8,637.84 Rip Rap 10 CY $ 40.00 $ 400.00 Storm Sewer Manhole 1 EA $ 2,000.00 $ 2,000.00 Headwall 2 EA $ 1,400.00 $ 2,800.00 Concrete Apron 1 SY $ 39.00 $ 9.00 Excavation 3,936 CY $ 5.00 $ 19,680.00 Sanitary Sewer Manholes 1 EA $ 2,000.00 $ 2,000.00 8" Water Line 44 LF $ 30.90 $ 1,359.60 8x8 Tap & Sleeve Valve 1 EA $ 2,800.00 $ 2,800.00 16" Bore & Steel Casing 66 LF $ 360.00 $ 23,760.00 Sub Total $ 65,788.44 North ( Concrete Pavement 194 SY $ 29.00 $ 5,626.00 6" Lime Subgrade 284 SY $ 4.00 $ 1,136.00 6" Concrete Curb 30 LF $ 2.40 $ 72.00 4' Concrete Walk 60 SY $ 35.00 $ 2,100.00 18" RCP 110 LF $ 61.00 $ 6,710.00 24" RCP 17 LF $ 70.00 $ 1,190.00 24" HDPE 50 LF $ 36.00 $ 1,800.00 Pilot Channel 191 LF $ 26.66 $ 5,092.06 Storm Sewer Manhole 2 EA $ 2,000.00 $ 4,000.00 18" Pipe End Treatments 4 EA $ 500.00 $ 2,000.00 Headwall 2 EA $ 1,400.00 $ 2,800.00 Concrete Apron 1 SY $ 39.00 $ 39.00 Excavation 3,339 CY $ 5.00 $ 16,695.00 Sanitary Sewer Manholes 1 EA $ 2,000.00 $ 2,000.00 8" Sanitary Sewer Pipe 165 LF $ 32.00 $ 5,280.00 8" Water Line 154 LF $ 30.90 $ 4,758.60 8x8 Tap & Sleeve Valve 1 EA $ 2,800.00 $ 2,800.00 16" Bore & Steel Casing 54 LF $ 360.00 $ 19,440.00 Sub Total $ 83,538.66 Engineering $ 15,172.79 Total $ 164,499.89 B-1 HOU:2322 718. 7 ( c_ - - EXHIBIT C CERTIFICATE OF ADVANCE - This Certificate is issued under that certain Development Agreement (the "Development Agreement") by and between the La Porte Redevelopment Authority (the "Authority"), Reinvestment Zone Number One, City of La Porte (the "Zone"), and Retreat at Bay Forest LP ("Developer") dated , 2007. Capitalized terms used in this Certificate shall have the meaning provided for in the Development Agreement. - - This Certificate evidences a Developer Advance under the Development Agreement in the amount of $ for the [describe the project category and nature of work completed]. - Interest on the Developer Advance evidenced by this Certificate shall accrue at the prime rate of JPMorgan Chase Bank as described in the Development Agreement for the period described in 6.1 (B) of the Development Agreement and shall be payable in accordance with the Development Agreement. - - By Developer's execution of this Certificate, Developer represents that it has made the expenditures and completed the work described in this Certificate. Copies of the relevant invoices and other appropriate documentation are attached to this Certificate. - By the Authority's execution of this Certificate, the Authority indicates its approval of the expenditures and work described in this Certificate and its approval of the matters set forth in this Certificate and recognizes its obligation to repay such Developer Advance together with interest pursuant to the Development Agreement. - - - - .... C-l HOU:2322718.7 ( \ ..... ( AGREED TO this day of ,2007. LA PORTE REDEVELOPMENT AUTHORITY By: Name: Title: Chairman Board of Directors ATTEST: By: Name: Title: Secretary, Board of Directors THE STATE OF TEXAS S S COUNTY OF HARRIS S BEFORE ME, the undersigned authority, on this day personally appeared , known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the _ day of 2007. Notary Public in and for The State of Texas (SEAL) C-2 HOU:2322718.7 - REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE By: Name: Title: Chairman Board of Directors ATTEST: - By: Name: Title: Secretary, Board of Directors - - - THE STATE OF TEXAS 9 9 COUNTY OF HARRIS 9 - BEFORE ME, the undersigned authority, on this day personally appeared , known to me to be the person whose name is subscribed to the - foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed. - GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the _ day of 2007. Notary Public in and for The State of Texas - (SEAL) - ( C-3 HOU:2322718.7 DEVELOPER RETREAT AT BAY FOREST LP, a Texas limited partnership By: Donald J. Meeks THE STATE OF TEXAS S S COUNTY OF HARRIS S BEFORE ME, the undersigned authority, on this day personally appeared , known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the day of 2007. Notary Public in and for The State of Texas (SEAL) (- C-4 HOU:2322718.7 ~ ... o \- ~ .... s ~ "C ~ o a s ~~ ... . o~ s::..~ ~~ .ct"S ......, i'O %.1 %15 ~o. -0& &~ !~ os::. 0..(1) to tIS ...JO ~ to ~ ~ <""" ~ I.OcOl.O<"""'<t e")oe")....o ~~~~~ Ol.... 0><""" cP g .... ~f/'tf/'tf/'tf/'t o o c<$ ..,- f/'t ... o U- () <.:> __.....ro CCC :J:JO OO~ <.:>g<:5 ~ro;' -o-oCl) C C C 2~8 ~~--- ..... ...... ~ --;;---- .... 0 0 0 0' ..g, C 0-0-(i)1.O~ ~ ro ~.ot-.t- o J..... -.r' C) --%...:;~ ~ oOct-t- ~~(1)~e c (.)(.)(1)e")~ :;:l €€~U5cP e oor-...;-"';- Q) .... ~ ~ Q. 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"-" :5 o .-! & .... ~- u:g ~~~ ~=c [;;~ t-- .... .... Q. ";;; lil . 0::<1> c'" oC 0.- ::;)=.... <I> a. '" - "" LA PORTE REDEVELOPMENT AUTHORITY HAWES HILL CALDERON LLP ROY HILL EXPENSE DETAIL ILA PORTE TAX INCREMENT REINVESTMENT ZONE) DATE CLIENT # VENDORlDESCRIPTION QTY U PRICE OT.REI BILL 5/22/2007 LAP Trio to DOst office toE (press Mail board ok. 5' 0.4B5 $2.43 YES I I I TOTAL $2.43 I certify that the above is true and correct to the best of my knowi$dge. ~~ EXPENSE DETAIL (La Porle T1F01) DATE CLIENT NO. VENDOR/DESCRIPTION QTY U.PRICE TOT REIM. BILL 05.17.07 CLPTlF01 Mileaoe tolfrom mta. w/Cilv Staff 78 $ 0.485 $ 37.83 Y V 05.24.07 CLPTIF01 Mileane tolfrom mta. wlBoard 78 $ 0.485 $ 37.83 Y CLPTIF01 $ 0.485 $ - TOTAL $ 75.66 .......'-... ...:J.:....... . ......~.: " " '0 > ..s za. -' 0-' 0:: w Cl ....I <l: U ....I ....I r-- co N ~ N r--N cor::: NX NJ- ~ c: coE .r/) o:::J .0 a..:c I III w ~ <l: I D -' :!>- OJ ~~ '" , '" iIi~ r-: 0::'" '" f- 0 f-... ......... w'" "'''' o~ '" '" -.:t:-.:t:-..I r2ci 00;:; D- ::J... 0 ......f- ~~ a z 0 F D- oc 0 ~~ o 0 ~} ~B wE > E e "" B ~ '" .!!! ,~ ci~ ~~ z o. 00 f-!!: u..u.. zf- FF wD- D-D- _..J -' -' 130 00 t- o Wo f-"! <(t- o"! co 0 ~ o u.. 1= {! o D- CIl ::::!. -' ~ c w Ul z W D- >< W '0 r- _0 r-o ~~ 0_ 0__ Ot- :U;2 " '" .'l Cl o .s o J- ~ ~ -'"- -~t- ': -0= ~ 1:: t- ~.~ ~ oj ~ . >-< .2 , ~ ~ g~~ J-Sj ;,; ~ ~ ~ o ~ o o o o o t,f ... ~ E:: ~ U lZl ~ Cl ~ <E g ~ ...... 0 .5 50 "" '" ..24-< :-;::::: 0 .0..><: ~ ~ ~;;: ~ ~ P lil " 0 '" " ~~ t'2~ g~ ~ NO~ ..Qt:! - ~~g . t- "" ~ oD;r3 '5l'E'7.J L.. g ._ "ls~ 1::] bD lJ o.S d) j::Q t) on ~ " ~ <E S ::s ~8; _",0 .~ -5 ~ ~z~ ~ ..: Cl ~ .9 ;S gj '" ~ Ii ~ " " ~ " .0 S ~ '" 00 00 0 0 r...: ~d '" ON ... N'" ... o t'I") 0 r'I") ~ : ~ :: ~ \CI ~ \0 N N MOl N'" ... ... ~ ~ ] g E;;; ~ 'E. Cl 0) ~ ~ 8 3'J ';;l = a +=> ::s Cd o 0 co J- S ..: 11 E g ~ a; "- '" " ~ '" :r: o g " '" o c:i cJ ,,' b!l '" ..!l ~ @)..c:: o al '0 " ~~ , - ",'" 'a@) 00 ON " ;g ~ o " -""" E~ .; j Jun. 20. 2007 5:26PM City of LaPorte City Hall No.9213 P. 2 City of La Porte Interoffice Memorandum To: TIRZ I La Porte Redevelopment Boar Mayor and Council From: John Jo,ems, Interim City M b cc: David Hawes, Board Consultant Wayne Sabo, Director of PI aDDing Norman Reed, Arete R~I Estate Development Date: June 20, 2007 Subject: .....utility Extension Agreement (VEA) between the La Porte Redevelopment Authority, the TIRZ, 6S La Porte, L TD and City of La Porte .....Development Agreement between the City of La Porte, La Porte Redevelopment Authority, and the TIRZ -Project: South La Porte Trunk Sewer . ""--. This memorandum to :file is to clarify potential con:t1icts between the llEA, its supporting documentation and the Development Agreeni.ent. The UEA between the parties listed above states that the applicant (65. La Porte, LID) is responsible for expenses associated with securing easements for the project. The supporting documents and exhibits to that agreement are not clear on the expenses relating to the new easement dedications. . Although ~ements existed prior to the UEA, decisions were made with approval and input from the City of La Porte regarding final location and design of the trunk sewer. These decisions resulted in the additional expenses. The City is funding this agreement and the subject expenses of $9,000 are within my authority to approve for the City's expenditures. BecauSe of the design decisions made and approved by the CityJ I recommend the Authority and TIRZ Board approved the additional payment of $9,000 for easement expenses and authorize payment in accordance with the UEA and the Development Agreement. . - (- JJ/ml Jun.20. 2007 1:47PM City of LaPorte City Hal] No. 9208 P. 2 - DAC Realty Group, Inc. Commercial Real Estate Services 900 Town & Country Lane. , Suite 330J Houston, Texas 77024 Phone: 713/973-2100, Fax: 713/973-2166, E-mail don@dacrealty.com - May 8, 2007 Mr. 10hn 10ems Interim City Manager City of LaPorte 604 West Fainnont Parkway Laporte, Texas 77571 - - Re: TRIZ Reimbursement Dear Mr. Joems: In reply to your letter dated May 1, 2007 and per your request, I have attached the following information that you requested. . - ( 1. Color renderine of what the project will look like when completed 2. Site Data: See the enclosed Site Data Sheet. - 3. Room Lavout 4. Site Lavout: It shows the physical layout of the 83 CandIewood Inn & Suites (CandIewood is a division of Holiday Inn, Memphis, Tennessee.) 5. Total Construction Costs : Three Million Five Hundred Thousand . Dollars ($3.500.000) Estimated Total Project Costs for Ad Valorem Value including land Costs - l_ 6. Road Construction to Start Julv 1. 2007 with completion scheduled for Julv 20th 2007 (47' wide 500' Long) will continue from where 13th Street currently stops at West "K" Street south to West "L" Street. All specifications are per City of La Porte. This Cost is approximately One . Hundred and Ninety-Six Thousand Dollars ($196,000). That includes all Engineering, Architecture, Surveying, Topographic Studies, Soil Tests and construction costs - - Jun. 20. 2007 1:47PM City of LaPorte City Hall No.92 = """ 7. Buildine Construction is scheduled to start August 1, 20( completion date of April 15,2008 8. MoteIODeninf!: May lstb, 2008 c: => ~ 9. Mr. Ghandi's ConstructionlDev~lopment Resume LaQuinta Inns & Suites 120 Rooms (owns & operates) . 8710 Seawall Blvd. Galveston, Texas Econo Lodge ( 66 Rooms) 3924 Ave U Galveston, Texas (owns & operates) . Baymont Inn (90 Rooms) 63rd & Seawall Galvesto~ Texas (Fee Developer) I \ Suburban Lodge (90 Rooms) 7212 East Point Baytown, Texas (F ee Developer) Holiday Inn Express (90 Rooms) 6201 Spencer Pasadena, Texas Built 1999 Sold 2001 Best Western Inn ( 62 Rooms) . 10521 East Freeway Houston, Texas Built 1999 Sold 2005 Best Western Inn (50 Rooms) 8600 Gulf Freeway Houston, Texas (Hobby Airport) Built 1955 Sold 2005 . Mr. Joems, should you or the La Porte Redevelopment Authority need additional information, we will be happy to furnish whatever else is requested. (- c c_ L007 1:47PM City of LaPorte City Hall No. 9208 P. 4 - We look forward to working with the City of La Porte in the development of this project. - Very truly yours, -=- ~~G---~I Don A. Czarneski ( - - cc: Gretchen J. Black 604 W. Fairmont Parkway La Porte, TX 77571 .... - Sam Ghandi La Quinta Inn & Suites Galveston, 'IX 77554 . Attachments: Color rendering Site data Room layout Site layout - - - ~-Jun. 20. 2007- 1:47PM-City of LaPorte City Hall 1 SITE.DATA: No. 9208 P. 5 SliE A~A: 1.65 AcRES (AFf'ROXIMA 'TEL ..,... ) (11,6S0 sarl.J ~ ~S9 sa.FT. 3 STORT" WOOD FRAME CONST. : i . ! I 6UIl..DINC: AREA: L PAFa<,JNa: SPACES:: L eN!! SPACE PE~ UNIT FER LOCAL CODES 19 feadJLAR SPACES 4 ACcESSIBLE SPACES (3 CA~5 / 1 VAN) NOTE; PAFCf<.ING: A"JO SITE FtEaUI~=MENT5 WILL vA~"T" ey JURfSDICTIONS .- LANDSCAPING: I~Ja:ATE ALl.. LAND5CAF5 A~AS WI~ AUTOHA TfC UNDE~FeOUND f~fc:iATrCN 5Y'51::J~ $00 ALL A~ NOT IN PLANTING eEDe --eU1LDING DATA: c.-ueST ~OMS: (S3J 5TUOIO UNITS = 52 ONE..BEOROOM SUITeS = a DCUBLS STUDIO UNITS. 2.3' ~OM MIx: E>3% SnJCIO UNfiS 2i"- DOU6L.=:3eo 5lt1DIO 'r",. ONE-6EC~ SUITES , ,.. ~fWJ .HI ~ =--t ~AC) ...... ~.,.~- N.,.... ~JlII'" ~ IW U-1l:I1IG ~ Ie ", c=lJ ~~ .10 "'- ~.1<1 ~ . 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