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City amends three-way development agreement, delays PinFusion construction start to Dec. 30
Summary
The board approved an amendment to the development agreement among the city, the redevelopment commission and developer HRKDE LLC to change the project name and extend the required construction start date from Aug. 1 to Dec. 30; the amendment was requested by the project lender.
The La Porte Board of Public Works and Safety approved an amended three-way development agreement Wednesday among the city, the redevelopment commission and the developer identified in the meeting as HRKDE LLC for the project formerly known as Full Tilt and now called PinFusion.
Planning staff said the amendment was requested by the project’s lender and changes the developer name in the agreement and extends the deadline to begin construction from Aug. 1 to Dec. 30 of this year. Craig Phillips said the amendment is needed to align contract documents with the lender’s requirements and to accommodate the developer’s revised timeline.
Why it matters: The amendment adjusts project milestones and preserves the city’s and redevelopment commission’s ability to move forward with property acquisition and development under updated timelines and contractual names.
Board members described the project as an important local development opportunity. The motion to approve the amended agreement passed by the board; staff will proceed under the revised timeline and document names.
