HomeMy WebLinkAbout4-20-22 LDFA1
LOCAL DEVELOPMENT FINANCE AUTHORITY (LDFA)
City of Lansing, City of East Lansing & Ingham County
Meeting Minutes
April 20, 2022
LEAP Office
Attendees: Luke Hackney, James Tischler, Ben Bakken, Jessy Gregg, Thomas
Fehrenbach, Dave Washburn, Charles Hasemann, Richard Pugh, Jon Laing,
Teri Bernero
Guests: Tim Dempsey (Public Sector Consultants), Gabriela Allum (MSU
Foundation), LaTasha Peebles (MEDC)
Staff: Joe Carr, Katlyn Cardoso, Jennifer Abood Morris, Debbie Engel
Recorded by: Debbie Engel of LEAP
____________________________________________________________________________
q Call to Order & Roll Call
Chair Hackney called the meeting to order at 3:02 PM. Carr conducted roll call.
q Introduction of new LEAP Staff
Joe Carr introduced Katlyn Cardoso to the board. She is LEAP’s new Director of Entrepreneurial
Ecosystem Development.
q Approval of LDFA Minutes - January 26, 2022
MOTION: Jim Tischler moved, seconded by Thomas Fehrenbach, to approve the LDFA
meeting minutes of January 26, 2022. All in Favor. Motion passed
unanimously.
q Approval of LDFA Financials Ending March 31, 2022
Abood Morris presented draft financials through March 31, 2022. Cash flow looks good. No red
flags or concerns to report.
MOTION: Jim Tischler moved, seconded by Ben Bakken, to approve the LDFA draft
financials as presented. All in Favor. Motion passed unanimously.
q Presentation of LDFA Audit of June 30, 2021
Ben Bakken presented the audit report for year ending June 30, 2021.
2
MOTION: Ben Bakken moved, seconded by Tom Fehrenbach, to approve the LDFA audit as
presented. All in Favor. Motion passed unanimously.
q Proposed Budget for FY 2023
Joe Carr presented the proposed budget to the committee. Discussion ensued.
A recommendation was made to spenddown $450,000 of the current funds.
MOTION: Jim Tischler moved and supported by Tom Fehrenbach to preliminarily adopt the
alternative budget as presented until it is approved by city councils and
municipalities. All in Favor. Motion passed unanimously.
It was agreed that a sub-committee will be created to discuss the $450,000 spenddown for FY
2023. Members of this subcommittee are as follows:
• Charlie Hasemann
• Jim Tischler
• Jessy Gregg
• Teri Bernero
• Dave Washburn
• Luke Hackney
MOTION: It was moved by Tom Fehrenbach and supported by Jim Tischler to approve the
formation of a sub-committee to make recommendations on programs for the
$450K spenddown. Practitioners will be invited to participate. All in Favor.
Motion passed unanimously.
It was also agreed that a pre-hire group meeting will be held. Jim Tischler proposed inviting the
school’s admins into a meeting and discuss career preparation for students. Overall intent is to
find ways for entrepreneurs to remain in the community.
q LDFA/LEAP 2021-2024 Staff Contracts Update:
LEAP received a total of sixteen applicants for the open position of SmartZone Development
Director and, subsequently, narrowed down to five candidates for interviews. Once this person
is hired, we expect them to start approximately Mid-May.
q Adoption of TIF Plan:
Jim Tischler submitted a request to add a new area to the TIF Plan. The area is located in
downtown Lansing and encompasses the following boundaries:
• North Boundary of Kalamazoo St.
• South boundary of I-496
• West Boundary of Capital Ave.
• East boundary of S. Washington Square
Board members recommended renewing the TIF plan first and then consider the addition of the
new boundaries afterward.
3
MOTION: Moved by Jim Tischler and supported by Charlie Hasemann to approve the
resolution which renews the TIF plan. All in favor. Motion passed unanimously.
MOTION: Moved by Jim Tischler, seconded by Jessy Gregg, to recommend modifying the
boundaries of the LDFA capture district to include expanded North, South, West,
and East borders and add the boundaries to a section of downtown Lansing. The
municipalities would still need to approve these additional boundaries at their
regular meeting. All in favor. Motion passed unanimously.
q TIC Updates:
Gabriella Allum reported on the TIC and the need for repainting two meeting rooms as well as
changing the locks to one master key for the building.
MOTION: Jessy Gregg moved, and it was supported by Jim Tischler to approve the
recommended updates to the TIC such as painting two meeting rooms and
changing the locks to one master key. Total cost for both projects will be
approximately $5,000.
(Note: Dave Washburn recused himself from this vote due to conflict of interest.)
Gregg recommends the budget be amended to include a line item of “TIC maintenance and
upkeep”.
q Other Business:
Joe Carr reported that the Hatching will be brought back this year.
q Adjournment: Chair Hackney adjourned the meeting at 4:30 PM.
Respectfully submitted by:
Joe Carr
Vice President, Entrepreneurship & Innovation Team
Lansing Economic Area Partnership (LEAP)