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Home My WebLink AboutLDFA Meeting Minutes 1-25-24 'w a -V JOINT LOCAL DEVELOPMENT FINANCE AUTHORITY (LDFA) City of Lansing, City of East Lansing&Ingham County Meeting Minutes January 25, 2024 Technology Innovation Center (TIC) Attendees: Staff: Harrison Leffel-Jones, Meghan McCormick,Anthony Klisch(not present) Recorded by: Meghan McCormick of LEAP Call to Order&Roll Call Chair Charley Hasemann called the meeting to order at 8:OOAM. Leffel-Jones conducted roll call. Members Present: Members Absent: Ben Bakken (8:1Oa) Nicole Millsap Kris Klein Charles Hasemann Jon Laing Glen Mitcham David Washburn Mark Meadows Irene Cahill Abigail Tykocki Traci Riehl (8:08am) Matt Apostle Christian Palasty Introduction of New Board Members Leffel-Jones announced Mark Meadows has joined the board to replace Jesse Gregg. Meghan McCormick has joined LEAP as the new Administrative Assistant at LEAP. Approval of Executive Committee Appointments - MOTION: Approval of the executive slate as follows for the remainder of the term (until October 2024) o Charley Hasemann as Chair o Abigail Tykocki as Vice Chair o Traci Riehl as Treasurer - Mark Meadows motioned, seconded by Matt Apostle.All in favor. Motion passed. Approval of Recording Secretary Appointment: - MOTION: Approval to appoint the role of Administrative Assistant at LEAP as the Recording Secretary to the Joint LDFA. - Mark Meadows motioned, seconded by David Washburn.All in favor. Motion passed. 1 Approval of LDFA Minutes - MOTION Approval of LDFA Minutes of October 26, 2023. - Mark Meadows moved, supported by David Washburn, to approve the October 26, 2023 minutes as presented. All in favor. Motion passed unanimously. Approval of LDFA/Regional SmartZone Financials - MOTION: The LDFA/Regional SmartZone Quarter 2 financial documents were presented to the board for review and approval. - Moved by David Washburn, supported by Mark Meadows, to approve the LDFA financial documents as presented. All in favor. Motion passed unanimously. SmartZone Updates - TIC Updates o Gabbi Strom and Jeff Smith provided an update on the TIC. o The MSU Research Foundation team presented a brief update on current TIC financials and tenancy rates as well as reporting occupancy on the Alliance Building which is at 100% capacity. o Update regarding Sprinkler System requirements which stated that there would be no further action required from the LDFA. - Gateway Program o Blake Grewal has joined the LEAP team as a contractor to run the Gateway Program which provides access to Statewide programs to our companies locally. o Three BAFs have been approved during his time at Gateway Manager. - RFP Process Update o Question period has ended and awaiting final submissions from Respondents. - Small Business Support Network o The Lansing Regional SmartZone and LEAP have applied for a regional grant of $6M. There were over 80 applicants and more than $230M requested for a $65M pot of funds. o LEAP was successful in being designated as a Small Business Support Hub for $3.5M over the next three years. - ESports Update o LRSZ will host next roundtable discussion on February 1st. - Metrics Update o New metrics are in place for this fiscal year to bring consistency across our programs that are supported by LDFA dollars. o Year over Year Results are still spotty but working towards normalizing the data. o Will set targets for next years programs. - Five-Year Plan Update o Still on track for our spending plan 2 Current Year Financial Projections o The LDFA is still on track to hit budget targets. o Recommendations to adjust two areas within the spending plan. ■ Increase of$17,500 for the 4-H Program that will come from the Rising Tide Fund ■ Increase of$10,000 in the Local Accelerator Fund category which is an incredibly popular program. Introduction of FYE2025 Budget o Budget and Spending Plan Introduced o Budget will need to be approved to send to the City Councils for Approval at April board meeting. o Budget and Spending plan will be formally adopted at the June board meeting. Introduction of Next 12 months Calendar Addendum to LEAP Staff-Services Contract - MOTION: For the acceptance and approval of the Addendum to the Staff and Services Contract as presented. - Mark Meadows motioned, seconded by Traci Riehl.All in favor. Motion approved. Approval for Use of Funds and Contract for Apple Developer Academy - CommunitX Education Initiative -4H Clover Codes Program in Partnership with MSU Extension - MOTION:Acceptance and approval of the contract pending legal review between the LDFA an MSU extension for this program as presented. - Traci Riehl motioned. Matt Apostle seconded.All in favor. Motion approved. SmartZone/LEAP Staffing Update - Leffel-Jones is resigning from the role as Executive Director for the Lansing Regional SmartZone to oversee the overall Small Business and Innovation Department at LEAP. - Leffel-Jones will be leading the Small Business Support Hubs program from MEDC as well as overseeing the ongoing integration of all of our small business support from Mainstreet to high-tech - LEAP is actively recruiting for this role and has had promising results. Public Comment - Public Comment: Sam Rose gave thanks of gratitude to Smartzone regarding the work they do and shared how it directly positively impacted his small business. - Public Comment: Julie Holten shared an update on StartupGrind Lansing that is the most active tech focused group in the Lansing Region. Adjournment: There being no further business before the board, Chair Hasemann adjourned the meeting at 9:08AM. Respectfully Submitted, 3 Harrison Leffel-Jones Lansing Regional SmartZone Executive Director 4