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La Porte board grants six-month extension for Panacea Shipping Company agreement

La Porte Development Corporation Board · February 9, 2026
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Summary

The board approved an amended and restated agreement, granting Panacea Shipping Company an additional six months to complete a driveway project at 311 North Broadway; motion passed unanimously.

The La Porte Development Corporation approved an amended and restated incentive agreement to give Panacea Shipping Company six additional months to complete driveway and site improvements at 311 North Broadway.

Haley, staff member, said the applicant missed the original deadline and that the scope and cost of the project remain unchanged. "The scope of the project is not changing, and the cost of the project is not changing," Haley said while describing staff coordination with the applicant and city engineering. No applicant representative was present but staff reported having met with the applicant and city staff to determine the path forward.

A motion to approve the amended and restated agreement was made and passed 6–0.