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La Porte redevelopment commission approves extension for HRKDE LLC purchase agreement after federal and survey delays
Summary
The commission voted unanimously Dec. 17 to extend HRKDE LLC’s purchase and development agreements to the end of next year after an SBA 504 loan delay, an expired survey requiring a two-month resurvey, and environmental reports that must be refreshed.
Bert Cook, executive director of the La Porte Economic Advancement Partnership, told the La Porte Redevelopment Commission on Dec. 17 that federal and site-preparation delays have pushed closing timelines for the HRKDE LLC project and asked the commission to extend its purchase and development agreements to the end of next year.
Cook said a federal government shutdown stalled SBA 504 loan processing and that an expired property…
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