HomeMy WebLinkAboutLansing Economic Development Corp Minutes 05.03.24The Lansing EDC’s Mission is to improve the Lansing community by fostering
economic growth that is strategic, sustainable and equitable.
Board of Directors Meeting
Friday, May 03, 2024 – 8:30 AM
LEDC Office – 401 South Washington Sq. Ste. 101, Lansing, MI 48933
MINUTES
Members Present: Chair - Shelley Davis Boyd, Vice-Chair - Calvin Jones, Secretary - Dr.
Alane Laws-Barker, Chaz Carrillo, Sandra Lupien, Jordan Sutton,
Rawley Van Fossen
Members Absent: Treasurer - Catherine Rathbun, Michael McKissic
Staff Present: Karl Dorshimer, Kris Klein, Brandy Standler, Aurelius Christian,
Kahleea Washington, Alex Watkins, and Chelsea Dowler
Guests:
Call to Order/Roll Call
Chair Davis Boyd called the Lansing Economic Development Corporation meeting to order at 8:35 AM.
Approval of LEDC Board Meeting Minutes – Friday, April 05, 2024 (ACTION)
MOTION: Member Jones moved to approve the LEDC meeting minutes from the Friday, April 05,
2024, Board of Directors meeting, as presented. Motion seconded by member Lupien.
YEAS: Unanimous, motion carried.
Financial Update
Standler noted that financial status is strong, and trending well.
Budget Update
Mr. Klein reported that the remaining budget will continue to show increases in revenue for
Admin, Issuer’s Fees, Interest Income, Project Fees and the receipt of the SSRP Grant
Acceptance.
As far as expenditures there is an anticipated increase in miscellaneous operating expense and
rent expense.
LEDC Board of Directors Meeting: Friday, May 03, 2024 Meeting Minutes Page 2 of 3
Upcoming budget will include increases in some revenue, but likely decrease in interest income.
Inflationary increase in several revenue categories. We should see decrease in rent and
operating expenses.
FY2025 City of Lansing Economic Development Services Contract Preview
Klein noted that two contracts exist with the City of Lansing. Economic Development Services
for $300,000 and the Façade Improvement Program for $175,000. The FY2025 budget it to be
considered by City Council.
Operations Update
Dorshimer updated the board regarding the new Lansing EDC sign is in its final place. The
Annual Report has been completed and copies will be available at the next meeting. The team
has started an internal Strategic Planning process.
Open Forum for LEDC Board Members
Member Jones asked about the McLaren Greenlawn Campus construction.
Various personal comments and acknowledgements were made.
Other Business
None.
Public Comment
None.
Adjournment
Chair Davis Boyd called the Lansing Economic Development Corporation meeting to
adjournment at 9:13 AM.
________________________________________________________
Karl Dorshimer, President, and CEO
Lansing Economic Development Corporation (LEDC)