HomeMy WebLinkAbout10-26-2022 LDFA1
JOINT LOCAL DEVELOPMENT FINANCE AUTHORITY (LDFA)
City of Lansing, City of East Lansing, Lansing Public Schools, City of East Lansing Public
Schools & Ingham County
Meeting Minutes
October 26, 2022
Technology Innovation Center
325 E. Grand River Avenue, Suite 300, East Lansing, MI 48823
Attendees: Luke Hackney, Ben Bakken, Jessy Gregg, Derrell Slaughter, Brian
McGrain, Tom Fehrenbach, Dave Washburn, Charles Hasemann,
Richard Pugh, John Laing, Kris Klein
Staff: Harrison Leffel-Jones, Joe Carr, Katlyn Cardoso, Debbie Engel, Jennifer
Abood Morris, Tony Klisch, Tony Willis, and Juliette Givhan
Recorded by: Debbie Engel of LEAP
Call to Order & Roll Call
Chair Hackney called the meeting to order at 8:00 am. Leffel-Jones conducted roll call.
Members Present: Members Absent:
Luke Hackney
Ben Bakken
Jessy Gregg
Derrell Slaughter
Brian McGrain
Tom Fehrenbach
Dave Washburn
Charles Hasemann
Richard Pugh
John Laing
Kris Klein
Nicole Millsap
Dori Leyko
Approval of June 22, 2022 LDFA Minutes
MOTION: Brian McGrain moved, seconded by Jessy Gregg, to approve the June 22,
2022 minutes as presented. All in Favor. Motion passed unanimously.
Approval of June 30, 2022 Draft LDFA Financials
MOTION: Tom Fehrenbach moved, seconded by Brian McGrain, to approve the June
30, 2022 draft financial statements as presented. All in Favor. Motion passed
unanimously.
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Discussion from Treasurer Bakken to have updated Financials sent once available to
reflect FY 2021/22 UCRP (University Corporate Research Park) Sponsorship.
Program Committee Member Positions
Leffel-Jones said the Program Committee was formed in 2021 and has oversight to the
process and evaluating proposals. This committee will serve until Fall 2023 and will hold
monthly meetings as needed to review programs, engage with community practitioners, and
review metrics. No actions will be taken at these meetings.
Leffel-Jones asked for volunteers to serve on this committee. The following members agreed
to serve on this committee: Charles Hasemann, Kris Klein, Jessy Gregg, Luke Hackney, and
Dave Washburn.
Adoption of Revised LDFA Bylaws
Leffel-Jones discussed the updated Bylaws which are based on the version adopted in
December 2014. The changes focus on developing the Bylaws to better fit with the board’s
current composition, the TIF Plan, and Public Act 57. All updates were minor and reviewed
by legal counsel. One important update is the ability for all LDFA committees to meet in
public forums, allowing a hybrid format and discussing programming with members of the
community/grant recipients.
MOTION: Tom Fehrenbach moved, seconded by Derrell Slaughter, to approve the
revised LDFA Bylaws as presented. All in Favor. Motion passed unanimously.
LDFA Spending Policy
This policy sets the dollar threshold and process for spending LDFA funds.
MOTION: Luke Hackney moved, seconded by Ben Bakken, to approve the LDFA
Spending Policy as presented. All in Favor. Motion passed unanimously.
(Friendly amendment added) For spending requests, remove the words “as needed.”
Presentation of Draft Strategic Plan
Leffel-Jones reviewed the draft strategic plan and gaps analysis. The proposed priorities
will focus on the SmartZone’s mission, vision, and goals.
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Adoption of 2022-2023 Spending Plan
Leffel-Jones presented a spending plan for the remainder of the 2022/23 fiscal year and
noted that this year’s plan is out of sync due to budget cycle and Development Director
hiring. All future spending plans will be reviewed by the Program Committee with the goal
to present updated spending plans alongside the budget. A list of spending items was
presented along with the rationale for each item.
• Based on the earlier approval of the spending policy, there were only two requests
above $30,000 which required board approval. The board heard presentations
from the Multicultural Business Program at the Broad School of Business regarding
their proposal for an Incubation Services Program. As there were not additional
questioned regarding the Mentor in Residence Program during discussion this was
opted not to be presented by the Development Director.
After this presentation, Leffel-Jones provided the following recommendations to balance
the program requests with the available budget:
• Send the Incubation Services Program proposal to the Program Committee for
review and consideration. A new plan will be re-introduced at the January board
meeting.
• Decline funding for SBIR Accelerator funding submitted by MSU Foundation and
recommend this request be considered by the Program Committee in the future.
• Decline funding for One and All for tech entrepreneurs and recommend this request
be considered by the Program Committee in the future.
• Approve funding for the Community Mentor in Residence (MIR) program at 50% of
the full amount requested. Demand for this program has not yet been established
and the Program Committee can consider future funding once the pilot program is
completed.
MOTION: Derrell Slaughter moved, seconded by Charles Hasemann, to approve the
2022-2023 LDFA Spending Plan as presented. All in Favor. Motion passed
unanimously.
(Note: Dave Washburn recused himself from this vote due to conflict of interest.)
SmartZone Metrics Update
The board was presented with an overview of some of the metrics used to track success of
the SmartZone.
Other Business
The board members provided updates on the following items:
• Technology Innovation Center (TIC) Updates (Occupancy and Financials)
• Gateway Program Update from Joe Carr
• TIF Renewal Finalization
• Proposal of Tech Town Detroit Visit
• Board Member Organizational Updates (MSU Foundation updated its name to MSU
Research Foundation)
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• East Lansing Public Schools Update that Richard Pugh will be resigning effective the
end of the meeting and that a new representative will be assigned.
• This meeting was also Derrell Slaughter’s last meeting representing Ingham County.
After the elections in November a new commissioner will be assigned.
Public Comment
There was no public comment.
LDFA Executive Committee Elections
The current executive committee members will rotate through the positions. This means
that Ben Bakken will now become the Chair, Jessy Gregg will be the Vice-Chair, and
nominations are needed to elect the Treasurer and Secretary.
Nominations for Secretary and Treasurer are as follows:
Secretary – Brian McGrain
Treasurer – Charles Hasemann
Dave Washburn was nominated for the role of Treasurer but opted to not be in the running
as there were entanglements due to the MSU Research Foundation receiving a number of
the funds from the LDFA.
Motion for both nominations was supported by Luke Hackney.
After the election ballots were collected and counted, the new executive committee was
announced:
Chair – Ben Bakken
Vice-Chair – Jessy Gregg
Secretary – Brian McGrain
Treasurer – Charles Hasemann
Chair Bakken thanked Luke Hackney for his service as Chair for the past three years.
Adjournment: There being no further business before the Commission, Chair Bakken
adjourned the meeting at 9:37 am.
Respectfully Submitted,
Harrison Leffel-Jones
SmartZone Development Director