HomeMy WebLinkAbout_Tax Increment Finance Authority Meeting Minutes 06.07.24Lansing Tax Increment Finance Authority (TIFA)
Board of Directors Meeting
Friday, June 07, 2024 – 8:30 AM
401 S. Washington Sq. Ste. 101 Lansing, MI 48933
MINUTES
Members Present: Chair - Shelley Davis Boyd, Vice-Chair - Calvin Jones, Treasurer
- Catherine Rathbun, Secretary - Dr. Alane Laws-Barker, Chaz
Carrillo, Jordan Sutton, Sandra Lupien, Rawley Van Fossen
Members Absent:
Staff Present: Karl Dorshimer, Kris Klein, Brandy Standler, Aurelius Christian,
Alex Watkins, Kahleea Washington, and Chelsea Dowler
Guests: Tammi Amerson, City of Lansing
Call to Order
Chair Davis Boyd called the Lansing Tax Increment Finance Authority meeting to order at
9:39 AM
Approval of TIFA Board Meeting Minutes – Friday May 03, 2024 (ACTION)
MOTION: Member Carrillo moved to approve the TIFA meeting minutes from the Friday, May
03, 2024, Board of Directors meeting, as presented. Motion seconded by Member Jones.
YEAS: Unanimous, motion carried. TIFA Financial Update
Tammi Amerson from the City of Lansing noted that assets are over $10 million. Fund balance
over $8 million. Revenue over $6 million to make payments on current TIFA debt service.
Fund balance over $17 million for future debt service payments.
Approval of FY2023/2024 TIFA Budget Amendment (ACTION) Attached Amended FY2023/2024 TIFA
Budget- Highlighted in Orange
MOTION: Member Rathbun moved to approve the FY2023/2024 TIFA Budget Amendment, as
presented. Motion seconded by Member Dr. Laws-Barker.
YEAS: Unanimous, motion carried.
Approval of FY2024/2025 TIFA Budget (ACTION) Attached Proposed FY2024/2025 TIFA Budget-
Highlighted in Blue
MOTION: Member Lupien moved to approve the Proposed FY2024/2025 TIFA Budget, as
presented. Motion seconded by Member Carrillo.
YEAS: Unanimous, motion carried. TIFA Discussion and Plan Update
Working with new financial advisors PFM.
Open Forum for TIFA Board Members
None.
Other Business
None.
Public Comment
None.
Adjournment
Chair Davis Boyd called the Lansing Tax Increment Finance Authority meeting to
adjournment at 9:55 AM.
________________________________________________________
Karl Dorshimer, President and CEO
Lansing Economic Development Corporation (LEDC)