Take 5

La Porte Development Board to Consider Economic Incentives for Main Street Pizza Restaurant on September 25

LA PORTE, Texas, Sept. 21, 2023 – The La Porte Development Board is set to discuss economic incentives for a new Round Table Pizza Royalty restaurant on Main Street in a meeting scheduled for September 25. The applicants, Ed and Jody Revak, have purchased the property at 114 W. Main St., appraised at $200,000. The proposed restaurant will occupy a 3,200-square-foot commercial space, with a total expected project cost of approximately $2 million.

According to the city’s scoring criteria, the applicants qualify for incentives up to $217,800. They plan to finance the project through personal savings and a Small Business Administration (SBA) loan. This development is expected to play a significant role in revitalizing downtown La Porte, aligning with the city’s soon-to-be-completed Comprehensive Plan and the recently finalized 2023 Strategic Plan.

A similar incentive was approved for the Pipeline Grill in 2015, amounting to $300,000. The Revaks had also secured an incentive of $390,600 for a different project in 2022, but that agreement was mutually rescinded due to economic uncertainties.

City staff suggests initiating a 60-day public comment period for the proposed incentive grant, which would not obligate the board to fund the project at its conclusion. The La Porte Economic Development Corporation’s projected fund balance at the end of FY2024 is $7,184,173, with budgeted expenditures of approximately $5,067,956 for this year and anticipated revenues of $3,611,321.

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