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La Porte board approves Beachwood Lakes development agreement, developer to finance infrastructure with TIF mechanism
Summary
The Board of Public Works and Safety approved a development agreement for Beachwood Lakes, a 122-unit subdivision adjacent to Beachwood Golf Course. The developer will finance on-site infrastructure, the city will escrow a $1,865,000 land payment, and two 20-year TIF districts are included in the plan.
The City of La Porte Board of Public Works and Safety on Aug. 19 approved a development agreement for Beachwood Lakes, a mixed residential project adjacent to Beachwood Golf Course that the city estimates will involve about $30 million in private investment when complete.
Bert Cook, executive director of the La Porte Economic Advancement Partnership, told the board the project would include 122 total units: 75 single-family homes (including 15 described as “executive-level”) and 47 town homes. The developer named in the packet is the partnership of John Kavcheck and Redstone Homes.
Cook said the developer will pay $1,865,000 for the land; that payment will be placed in escrow and can be used by the developer to…
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