HomeMy WebLinkAbout07-29-15 Meeting of the La Porte Redevelopment Authority MinutesMINUTES OF THE MEETING OF THE
LA PORTE REDEVELOPMENT AUTHORITY
CITY OF LA PORTE, TEXAS
BOARD OF DIRECTORS
July 29, 2015
DETERMINE QUORUM; CALL TO ORDER.
The Board of Directors of the La Porte Redevelopment Authority, City of La Porte, Texas, held a
regular meeting, open to the public, on Wednesday, July 29, 2015, at 6:30 p.m., in the Council Chambers
of City Hall, 604 West Fairmont Parkway, La Porte, Texas, and the roll was called of the duly appointed
members of the Board, to -wit:
Peggy Antone, Secretary
Position 1
Dave Turnquist
Position 2
Alton Porter
Position 3
Horace Leopard
Position 4
Doug Martin, Vice Chair
Position 5
JJ Meza
Position 6
Lloyd Graham
Position 7
Chester Pool
Position 8
Vacant
Position 9
and all of the above were present, with the exception of Directors Meza and Graham, thus constituting a
quorum. Also present were David Hawes, Hawes Hill Calderon, LLP; and Scott Livingston, La Porte EDC
Director. Vice -Chair Martin called the meeting to order at 6:34 p.m.
CONSIDER APPROVAL OF THE MINUTES OF THE BOARD OF DIRECTORS MEETING HELD
JANUARY 21, 2016.
Upon a motion duly made by Director Pool, and being seconded by Director Porter, the Board voted
unanimously to approve the Minutes of the January 21, 2015, Board meeting, as presented.
CONSIDER AGREED UPON PROCEDURES PROPOSAL FROM McCALL GIBSON SWEDLUND
BARFOOT PLLC.
Upon a motion duly made by Director Pool, and being seconded by Director Tumquist, the Board
voted unanimously to approve Agreed Upon Procedures proposal from McCall Gibson Swedlund Barfoot
PLLC, as presented.
CONSIDER PROPOSAL FROM McCALL GIBSON SWEDLUND BARFOOT PLLC FOR FY2015 AUDIT
SERVICES
Upon a motion duly made by Director Leopard, and being seconded by Director Antone, the Board
voted unanimously to approve the proposal from McCall Gibson Swedlund Barfoot PLLC for FY2015 audit
services, as presented_
CONSIDER TAX YEAR 2014 DEVELOPER INCREMENT DISBURSEMENTS.
Upon a motion duly made by Director Porter, and being seconded by Director Pool, the Board voted
unanimously to approve the tax year 2014 developer increment disbursements; $17,974.78 payable to
Retreat at Bay Forest; and $1,035,675.68 payable to Port Crossing.
APPROVE FY2015-2016 BUDGET,
Mr. Hawes reviewed the FY2015-2016 proposed budget, included in the Board agenda materials,
and answered questions. There was discussion regarding the estimated budget for 2014-2015 should
reflect $117,862.00 for developer disbursements for Lakes of Fairmont Greens, which would leave an
ending fund balance of $778,674.00. The beginning fund balance for the proposed 2015-2016 budget
should be $778,674.00 giving a total in revenues of $3,278,005.00 for the 2015 2016 budget. There was
discussion to change the developer disbursement for Lakes of Fairmont Greens to $117,862.00 under the
2015-2016 proposed budget for a total of $2,033,663.00 under the Capital Improvements and leaving an
ending fund balance in the amount of $646,687.00. Upon a motion duly made by Director Porter, and being
seconded by Director Tumquist, the Board voted unanimously to approve the FY2015-2016 Budget as
amended (1) changing the 2014-2015 estimated capital improvements developer reimbursement to Lakes
of Fairmont Greens to an amount of $117,862.00 for a total of $2,205,447.00 for capital improvements, and
leaving an ending fund balance of $778,674.00 for 2014-2015; (2) changing the beginning fund balance for
the 2015-2016 proposed budget to $778,674.00 for a total amount of in revenues in an amount of
$3,278,005.00 for the proposed 2015-2016 budget; and (4) changing the developer reimbursement to
Lakes of Fairmont Greens to $117,862.00 under the 2015-2016 proposed budget for a total of
$2,033,663.00 in capital improvements, leaving an ending balance for the proposed 2015-2016 budget in
the amount of $$646,687.00.
CONSIDER ESTOPPEL CERTIFICATE AND CONSENTTO ASSIGNMENT TO AND FOR THE BENEFIT
OF LIBERTY PROPERTY LIMITED PARTNERSHIP, A PENNSYLVANIA LIMITED PARTNERSHIP
(PURCHASER), AND LAND SERVICES TITLE OF TEXAS, AS AGENT FOR FIDELITY NATIONAL
TITLE INSURANCE COMPANY.
Mr. Hawes went over the Estoppel Certificate and Consent to Assignment, included in the Board
agenda materials, and answered questions. Upon a motion duly made by Director Pool, and being
seconded by Director Leopard, the Board voted unanimously to approve the Estoppel Certificate and
Consent to Assignment to and for the benefit of Liberty Property Limited Partnership, a Pennsylvania limited
partnership (purchaser), and Land Services Title of Texas, as agent for Fidelity National Title Insurance
Company, as presented.
CONSIDER SECOND AMENDMENT TO DEVELOPMENT AGREEMENT BY AND BETWEEN TAX
INCREMENT REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, TEXAS, LA PORTE
REDEVELOPMENT AUTHORITY, A TEXAS NON-PROFIT CORPORATION, AND LIBERTY PROPERTY
LIMITED PARTNERSHIP, A PENNSYLVANIA LIMITED PARTNERSHIP.
Mr. Hawes went over the Second Amendment to Development Agreement, included in the Board
agenda materials, and answered questions. Upon a motion duly made by Director Porter, and being
seconded by Director Pool, the Board voted unanimously to approve the Second Amendment to
Development Agreement by and between Tax Increment Reinvestment Zone Number On, City of La Porte,
Texas, La Porte Redevelopment Authority, a Texas non-profit corporation and Liberty Property Limited
Partnership, a Pennsylvania limited partnership, as presented.
CONSIDER APPROVAL OR OTHER ACTION WITH REGARD TO AUTHORITY INVOICES.
Mr. Hawes presented the July 2015 Revenue Expense Summary Report and went over invoices,
included in the Board agenda materials. Upon a motion duly made by DirectorAntone, and being seconded
by Director Turnquist, the Board voted unanimously to accept the July 2015 Revenue Expense Summary
Report and approved payment of invoices, as presented.
RECEIVE UPDATES FROM THE CITY, DEVELOPERS AND STAFF WITH REGARD TO
DEVELOPMENT WITHIN THE ZONE.
There was general discussion regarding updates with regard to development within the zone. No
action from the Board was required.
2
BOARD MEMBER COMMENTS
a. Matters appearing on agenda;
b. Inquiry of staff regarding specific factual information or existing policy.
No action from the Board was required.
ADJOURN.
There being no further business to come before the Board, Vice -Chair Martin adjourned the meeting at
7:05 p.m.