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HomeMy WebLinkAbout2019 Minutes LBRA Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, December 6, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, Shelley Davis-Boyd, Brian McGrain, Fred Schaible, Andrea Binoniemi Members Absent: Blake Johnson (E), Kimberly Coleman (E), James Butler III Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein, Rachel Mcllvaine, Jennifer Abood-Morris Guests: Jeff Scharnowske, Judy Kehler Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 9:19 a.m. Approval of LBRA Board Meeting Minutes - Friday, November 1, 2019 MOTION: Binoniemi moved to approve the LBRA meeting minutes from the Friday, November 1, 2019 LEDC Board of Director's meeting. Motion seconded by McGrain. YEAS: Unanimous. Motion carried. Brownfield Plan Policy Proposed Amendments (Action) Dorshimer introduced the Brownfield Policy and proposed updates including limiting the use of additional tax incentives and abatements on projects seeking a Brownfield Plan. Klein provided an overview of the current capture policy for the Lansing Brownfield Revolving Fund and Administrative Fund and proposed changes to this capture in the Policy. MOTION: Schaible moved to approve the Brownfield Plan Policy Amendments as presented. Motion seconded by Donaldson. YEAS: Unanimous. Motion carried. Brownfield Plan #54/Y-Site/Metro Place Request to Assign Developer Portion of Reimbursement (Action) Dorshimer provided an overview of the request and estimated current capture available for the Developer or assignment. He made it clear that any assignment would not change the priority of TIF capture uses as outlined in the most recent 1 Reimbursement Agreement. Furthermore he specified the agreement gives LBRA Admin, LBRA BRF and repayment of the EPA RLF loan all as priorities over any other uses. MOTION: Schaible moved to approve the Brownfield Plan #54/Y-Site/Metro Place Request to Assign Developer Portion of Reimbursement resolution as presented. Motion seconded by Binoniemi. YEAS: Unanimous. Motion carried. Update on Financials Chair Jones introduced Jeff Scharnowske, the new Finance Manager for the City of Lansing. Scharnowske provided an overview of his role and welcomes input from the board as how financials are presented at future meetings. Open Forum for LBRA Board Members None was provided. Other Business None Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 9:40 a.m. 1/X t Karl orshir�ier, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, November 1, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, James Butler III, Shelley Davis-Boyd, Brian McGrain, Blake Johnson Members Absent: Fred Schaible, Andrea Binoniemi, Kimberly Coleman Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein, Rachel Mcllvaine, Jennifer Abood-Morris Guests: None Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 9:40a.m. Approval of LBRA Board Meeting Minutes - Friday, October 4, 2019 Chair Jones opened the floor to discussion of October 4, 2019 Meeting Minutes. Butler asked to amend the October 4, 2019 Meeting Minutes to reflect that Members recorded as absent at time of rollcall to be marked as present but noting their time of arrival and that his name be stricken from Members listed as absent. Chair Jones asked that the Minutes reflect the changes as presented by Butler. MOTION: McGrain moved to approve the LBRA meeting minutes from the Friday, October 4, 2019 LEDC Board of Director's meeting as amended. Motion seconded by Boyd. YEAS: Unanimous. Motion carried. Minutes approved as amended. Brownfield Plan Presentation (Discussion) Chair Jones asked that this item be tabled until additional Board Members are present. McGrain and Butler also requested a similar presentation for TIFA. Open Forum for LBRA Board Members None was provided. Other Business 1 None Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 9:45a.m. Karl Gorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, October 4, 2019 -8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, Shelley Davis-Boyd, Brian McGrain, Fred Schaible, James Butler III (arrived 8:37a.m.), Blake Johnson (arrived 8:49a.m.), Andrea Binoniemi (arrived 8:55a.m.) Members Absent: Kimberly Coleman (E) Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein, Rachel Mcllvaine Guests: Patrick Gillespie, Gillespie Group Tricia Walthorn, Gillespie Group Jessica DeBone, PME Marilyn Crowley, Michigan Community Capital Dave VanHaaren, Triterra Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 8:33a.m. Rollcall was called by Klein and recorded for public record. Approval of LBRA Board Meeting Minutes- Friday, September 6, 2019 MOTION: Donaldson moved to approve the LBRA meeting minutes from the Friday, September 6, 2019 LEDC Board of Director's meeting as presented. Motion seconded by Schaible. YEAS: Unanimous. Motion carried. Approval for Brownfield Plan #75 Amendment 1 -Capital City Market(Action) Dorshimer introduced the project team and the amendment request. Gillespie provided an update on the project. The steel, podium and cap are nearly complete. Framing will be going up soon. The grocery store and hotel are planned to open in November/December of 2020. DeBone outlined the amendment, which will only expand the brownfield area but not change any of the numbers in the plan. The intent of the amendment is to allow the Developer to conduct brownfield eligible activities on the added property and be reimbursed for these activities as allowed by the brownfield plan. 7 MOTION: Schaible moved to approve the Resolution Approving Brownfield Plan #75 Amendment 1 - Capital City Market as presented. Motion seconded by Butler. YEAS: Unanimous. Motion carried. Approval for Brownfield Plan #78-Temple Redevelopment Project (Action) Klein introduced the project, history of the building, and past redevelopment attempts. Crowley provided an overview of Michigan Community Capital (MCC), examples of their projects, development team, and project timeline. MCC desires to redevelop the Temple Building in Old Town into a mixed-use development. Crowley shared that main components of the redevelopment includes reconfiguring the floor structure from 2 to 5, constructing a 2-story parking structure, and office and retail use on the first floor. Schaible inquired if the project includes affordable housing. Crowley expressed this is not an affordable housing project and requires no income certification. Butler asked if the project is supported by MSHDA. Crowley clarified while MCC as an organization receives MSHDA support, this project will not be funded by MSHDA. VanHaaren introduced the Brownfield Plan including current eligibility, investigation, and eligible activities associated with the project.The Plan is 30 years but is not contemplated to create enough capture to cover of all eligible activities possible under the project. MOTION: Donaldson moved to approve Brownfield Plan #78 - Temple Redevelopment Project as presented Motion seconded by Schaible. YEAS: Unanimous. Motion Carried. MEDC Site Readiness Program • Program Update Dorshimer introduced the Site Readiness Program through the Michigan Economic Development Corporation.The LBRA applied to the MEDC for grant assistance to analyze the roughly 50 acre "Sumbal Site" in South Lansing near Miller and Waverly for potential future uses. The LBRA was awarded $75,000 to help pay for site investigation, environmental assessment, appraisal, and similar pre-development activities. Dorshimer explained that the resolution is to accept the grant and amend the LBRA Budget. Donaldson inquired about future control over what type of development will occur on site. Dorshimer control of future development would be controlled via the approvals necessary for rezoning, site plan approval and the granting of any incentives. 2 Schaible inquired as to why the landowner is not contributing to these costs. Dorshimer replied that such investigation activities are commonly paid for by a potential purchaser and the LBRA funds expended are expected to be recovered with a future brownfield plan on the site. • Approval of LBRA 2019-2020 Budget Amendment(Action) MOTION: Schaible moved to approve the LBRA 2019-2020 Budget Amendment for the MEDC Site Readiness Program as presented Motion seconded by Binoniemi. Further Discussion: McGrain and Binoniemi inquired about the current status of the ownership structure and if it is in trust. YEAS: Unanimous. Motion Carried. Open Forum for LBRA Board Members Dorshimer introduced Rachel Mcilvaine, a new employee with LEAP. Rachel is an Economic Development Specialist in the Business Development Division, Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 9:21 a.m. arl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, September 6, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, James Butler III, Blake Johnson, Shelley Davis-Boyd Members Absent: Brian McGrain (E), Kimberly Coleman (E), Fred Schaible (E), Andrea Binoniemi (9:02) Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein Guests: Brian Lefler, Baird Bill Danhof, Miller-Canfield Eric Helzer, AIRS John Peckham Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 8:33a.m. Rollcall was called by Klein and recorded for public record. Approval of LBRA Board Meeting Minutes- Friday, August 2, 2019 MOTION: Donaldson moved to approve the LBRA meeting minutes from the Friday, August 2, 2019 LEDC Board of Director's meeting as presented. Motion seconded by Butler. YEAS: Unanimous. Motion carried. Red Cedar Development Project/Plan #72 Tax Increment Revenue Bonds (Action) • Resolution Authorizing the Issuance of Limited Obligation Tax Increment Revenue Bonds Dorshimer provided and overview of the Red Cedar Project and the negotiation of issuing bonds through the LBRA to help support the project. Payment on the limited obligation bonds will be provided via Tax Increment Revenue (TIR). Neither the City of LBRA is responsible to repay the bonds if there is a shortfall in TIR. Approval of the resolution only gives permission to proceed with issuing bonds if certain conditions are met. The proceeds of the bonds if issued and sold, will be used to reimburse the Developer for eligible brownfield costs per the approved Brownfield plan. Dorshimer introduced Danhof and Lefler, representing the LBRA, to provide further information on the resolution they have prepared for consideration by the LBRA. 1 Donaldson inquired what the worst-case scenario would be or if the project isn't completed. Lefler explained that essentially the bond-buyer would not get paid if the tax revenue from the project is not enough to cover the bond payment. The bonds are purchased with this risk in mind and neither the City or LBRA is not liable to repay. TIR is the sole source of reimbursement on the bonds. The City nor the LBRA is pledging full- faith and credit to the Bonds. MOTION: Butler moved to approve Resolution Authorizing the Issuance of Limited Obligation Tax Increment Revenue Bonds as presented. Motion seconded by Johnson. YEAS: Four (4) -Jones, Butler, Johnson, Davis-Boyd NAYS: One (1) - Donaldson • Approval of Brownfield Reimbursement Agreement with Continental/Ferguson Lansing, LLC Dorshimer provided an overview of the Reimbursement Agreement for the Red Cedar brownfield plan. This agreement dovetails with the Comprehensive Development Agreement and the Brownfield Plan. The Reimbursement Agreement details the use of the taxes captured (TIR) by the LBRA. MOTION: Butler moved to approve the Brownfield Reimbursement Agreement with Continental/Ferguson Lansing, LLC as presented. Motion seconded by Davis-Boyd. YEAS: Four (4) - Jones, Butler, Johnson, Davis-Boyd NAYS: One (1) - Donaldson Approval for Brownfield Plan #77-500 Block Redevelopment Project (Action) Klein provided an overview of the Former Lake Trust property and that LEAP staff have been negotiating with the Developer over several months to arrive at an acceptable plan to present to the Board. Klein noted that the project is phased, and the second phase is not part of the current brownfield plan so the plan will need to be amended if prior to phase two occurring. Helzer provided a presentation on the project. Peckham discussed the on-street parking plan. MOTION: Donaldson moved to approve Brownfield Plan #77 - 500 Block Redevelopment Project as presented Motion seconded by Davis-Boyd 2 YEAS: Unanimous. Motion Carried. Interlocal Agreement on Tax Increment Revenues between the LBRA and TIFA for Brownfield Plan #76 Farnum Building Redevelopment(Action) Dorshimer provided an overview of the Agreement. He stated the agreement was necessary because Brownfield Plan #76 was located in the TIFA District. He also stated that 10% of the new taxes will be retained by the TIFA and once the brownfield plan expires 100% of the new taxes will go to the TIFA. MOTION: Johnson moved to approve Interlocal Agreement on Tax Increment Revenues between the LBRA and TIFA for Brownfield Plan #76 Farnum Building Redevelopment as presented Motion seconded by Binoniemi. YEAS: Unanimous. Motion Carried. Open Forum for LBRA Board Members None was provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 9:21 a.m. Karl 6 orshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, August 2, 2019 -8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, James Butler III, Brian McGrain, Fred Schaible, Kimberly Coleman, Shelley Davis-Boyd Members Absent: Blake Johnson (E), Andrea Binoniemi Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant Guests: Parker Webb, Third Space Property Matt Jackson, Jackson Investment Group Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 9:06 a.m. Approval of LBRA Board Meeting Minutes- Friday, July 12, 2019 MOTION: Schaible moved to approve the LBRA meeting minutes from the Friday, July 12, 2019 LEDC Board of Director's meeting as presented. Motion seconded by Donaldson. YEAS: Unanimous. Motion carried. Assignment of Reimbursement Payments for Plan #74- 930 West Holmes Rd (Action) Dorshimer provided a brief overview of 930 West Holmes project and explained that once the redevelopment project is completed, the property will be sold. Dorshimer noted that the reimbursement will need to be transferred to the new owners, but all current agreements are still in place on the project and that the reimbursement does not begin until the project is completed. Webb stated that closing of the property is planned for early September. Jackson stated that the work will be done before closing. Discussion ensued. MOTION: McGrain moved to approve assignment of Reimbursement Payments for Plan #74 - 930 West Holmes Road as presented. Motion seconded by Butler. YEAS: Six (6) -Chair Jones, Donaldson, Butler, McGrain, Coleman, Davis-Boyd. Motion carries. NAYS: One (1) -Schaible. 1 LBRA Brownfield Plan Policy (Action) Dorshimer presented the updated Brownfield Plan Policy with several changes that were recommended from the last meeting. The Policy's point system was discussed in further detail and if there should be cut off number or not. Discussion ensued. MOTION: Donaldson moved to approve LBRA Brownfield Plan Policy as presented Motion seconded by Butler. Additional Discussion: Proposed amendment to the Policy was moved by McGrain on the criteria to include 5 - 9 stories downtown, to omit the greater than 20 years for length of plan, and to include exceptional architectural under products. Motion seconded by Coleman. YEAS: Unanimous. Motion carried. Open Forum for LBRA Board Members Chair Jones opened the floor to LBRA Board Members, no comments were provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 9:49 a.m. Kart Dorsh'imer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, July 12, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, James Butler III, Brian McGrain, Blake Johnson Members Absent: Fred Schaible, Kimberly Coleman, Shelley Davis-Boyd (E), Andrea Binoniemi (E) Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein Guests: Joan Nelson, Jon Lum, James Dow, Judy Kehler, Terri Fitzpatrick, Jessica DeBone, Jim Smiertka Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 8:35 a.m. Rollcall was called by Klein and recorded for public record. Approval of LBRA Board Meeting Minutes- Friday, May 31, 2019 MOTION: Butler moved to approve the LBRA meeting minutes from the Friday, May 31, 2019 LEDC Board of Director's meeting as presented. Motion seconded by Donaldson. YEAS: Unanimous. Motion carried. Approval for Brownfield Plan #76 - Farnum Building Redevelopment (Action) Dorshimer introduced Terri Fitzpatrick of Boji Group and Jessica DeBone of PM Environmental. Fitzpatrick provided an overview of Boji Group and the Farnum Building Redevelopment Project. The project includes $20 million investment, an estimated 200 jobs, both new and retained, and is scheduled to be completed by January 2021. DeBone provided an overview of the Brownfield Plan which includes extensive asbestos abatement within the building. Donaldson asked about ownership and taxing impact of tax-exempt tenants. Fitzpatrick shared that the project developer, Allegan Properties, has the same principals as Boji Group and is a taxable entity so tax capture would not be impacted by tax-exempt entities that may be tenants in the building. Butler asked about the staff of Boji Group. Fitzpatrick added that Boji Group has over 30 employees, most of which work out of their downtown offices. MOTION: Butler moved to approve Brownfield Plan #76 - Farnum Building Redevelopment as presented. Motion seconded by Johnson. 1 Additional Discussion: Donaldson asked about the Universal Development Agreement and its impact on the LBRAs consideration of Brownfield Plan #76. Dorshimer clarified that Universal Development Agreements are not typically presented to the LBRA when considering a Brownfield Plan. Dorshimer added that the Development Agreement is close to being final and includes provisions regarding protecting future fax capture generated by the building. YEAS: Unanimous. Motion carried. Redevelopment of Former Temple Club Update (Discussion) Dorshimer provided an update on the Temple Club Project. Michigan Community Capital has purchased the property and is proposing a mixed-use redevelopment. The Developer is seeking funding including Opportunity Zone investments. Dorshimer added that the developers will likely come before the Board to seek approval of a Brownfield Plan to assist with the redevelopment project. McGrain commented on the importance of the location and building and need to further discuss masking of proposed parking structure along Cedar. LBRA Brownfield Plan Policy (Discussion) Dorshimer discussed the ongoing revisions to the Brownfield Plan Policy based off previous Board discussion, including consideration of exemptions to the proposed policy. Dorshimer offered a draft scoring system for discussion that would consider salary, investments in public improvements, building height, length of Plan, and others. McGrain suggested that the LBRA encourage historic preservation and downtown housing by adding these priorities to the scoring system. McGrain also suggested limiting the height consideration to downtown. Johnson suggested that the document be revised and formalized for consideration by the Board. Chair Jones suggested that the sub-committee review and recommend to the Board. Resolution- Bylaw Amendment Re: Officer of Municipality (Discussion) Dorshimer discussed the bylaw change approved by the Board on May 31, 2019 and that McGrain is now a Board Member. Dorshimer added that Mayor Schor has submitted his resignation from his position on the Board and further action is not required on this item. Open Forum for LBRA Board Members Chair Jones opened the floor to LBRA Board Members, no comments were provided. Other Business No other business was presented. Public Comment 2 Klein thanked the Board for their support on the FY2019 Environmental Protection Agency Assessment Grant proposal by the City of Lansing which was approved for $600,000. Klein added that implementation of the grant will begin in the coming months and the Board will be offered regular updates on its progress. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 9:09 a.m. Kerr) Dorsnimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, May 31, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, Shelley Davis-Boyd, Fred Schaible, Andrea Binoniemi, James Butler III Members Absent: Mayor Andy Schor (E), Blake Johnson (E), Kimberly Coleman (E) Temp Members Present: None Staff Present: Karl Dorshimer, Anum Mughal, Hannah Bryant, Stella Sorovigas Guests: None Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 9:51 a.m. Approval of LBRA Board Meeting Minutes - Friday, April 12, 2019 MOTION: Butler moved to approve the LBRA meeting minutes from the Friday, April 12, 2019 LEDC Board of Director's meeting as presented. Motion seconded by Davis-Boyd. YEAS: Unanimous. Motion carried. LBRA Financial Statement-March 31, 2019 (Motion to Receive) Dorshimer discussed the financial statements. MOTION: Davis-Boyd moved to receive the LBRA Financial Statements, as presented. Motion seconded by Schaible. YEAS: Unanimous. Motion carried. Resolution I-EGLE (MDEQ) Grant (Action) MOTION: Schaible moved to approve the Resolution I-EGLE (MDEQ) Grant as presented. Motion seconded by Butler. YEAS: Unanimous. Motion carried. 1 Resolution Amend the FY 2018-2019 LBRA Budget (Action) MOTION: Butler moved to approve the Resolution II -Amend the FY2018 - 2019 LBRA Budget, as presented. Motion seconded by Donaldson. YEAS: Unanimous. Motion carried. Approval of 2019 -2020 LBRA Budget (Action) MOTION: Schaible moved to approve the FY2019 - 2020 LBRA Budget, as presented. Motion seconded by Davis-Boyd. YEAS: Unanimous. Motion carried. LBRA Brownfield Plan Policy(Discussion) Dorshimer discussed the draft Brownfield Plan Policy for the LBRA. Dorshimer noted that these policies have been followed in most of the current brownfield plans, but that no official policy has been put into place by the LBRA. The policy would allow for some exceptions to the eight required parameters. Schaible recommended examining other cities Brownfield Plans to be more competitive. It was recommended to include a specific percentage of public improvements to the parameters that need to be followed by developers. Examples were given of the Self-Storage project and Dunckel Road project which included public improvements in their projects. Jones recommended including public input prior to construction as one of the exceptions. The Board was pleased to see the progress on the policy and would like to see a point system established for the exceptions. Open Forum for LBRA Board Members Chair Jones opened the floor to LBRA Board Members who provided the following announcements/updates: None were provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 10:20 a.m. - Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, April 12, 2019 - 8:30 AM LorAnn Oils 4518 Aurelius Road Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, Kimberly Coleman, Fred Schaible, Andrea Binoniemi, James Butler III Members Absent: Mayor Andy Schor (E), Blake Johnson (E), Shelley Davis-Boyd (E) Temp Members Present: None Staff Present: Karl Dorshimer, Kris Klein, Anum Mughal Guests: Samantha Harkins, City of Lansing Angela Bennett, City of Lansing Janet Michaluk, MDEQ Brian Lefler, Robert E. Baird Company Connor Sullivan, Robert E. Baird Company Jarrod Smith, Dykema Gossett PLLC Brandon Metzger, CB Mining Rhonda Jones, Lansing Board of Water & Light Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 8:56 a.m. Approval of LBRA Board Meeting Minutes- Friday, February 15, 2019 MOTION: Binoniemi moved to approve the LBRA meeting minutes from the Friday, February 15, 2019 LEDC Board of Director's meeting as presented. Motion seconded by Schaible. YEAS: Unanimous. Motion carried. LBRA Tax Capture Policy (Action) Dorshimer introduced a Tax Capture Policy for the LBRA. Dorshimer noted that these policies have been commonly followed in many contemporary Brownfield Plans, but that no official policy has been put into place by the LBRA. The policy would allow for some flexibility of terms in extraordinary circumstances. Binoniemi inquired about adding other LBRA priorities into the document, including investment in public infrastructure on each project. Schaible inquired how extraordinary or transformative projects would be defined. Discussion ensued on the topic of addressing extraordinary 1 or transformative developments. Schaible offered the formation of a sub-committee to work with the Mayor and Staff to refine the Tax Capture Policy. MOTION: Binoniemi moved to table the Tax Capture Policy as presented until a subcommittee comprised of Schaible, LBRA Staff/LEAP, and the Mayor's office is convened and ready to present recommendations to the LBRA Board. Motion seconded by Coleman. YEAS: Unanimous. Motion carried. Amendment of Grant Agreement-Capital City Market Dorshimer presented the amended Michigan Department of Environmental Quality (MDEQ) Grant Agreement between the LBRA and 600 E. Michigan-Lansing, LLC. Dorshimer also noted that the developer will no longer be pursuing the MDEQ loan. Assignment of Brownfield Reimbursement-Capital City Market (Action) Dorshimer presented on the Assignment of Brownfield Reimbursement for the Capital City Market/Brownfield Plan #75 from 600 E. Michigan-Lansing, LLC to Huntington National Bank. Dorshimer noted that any additional reassignment would need to be considered and approved by the Board. Schaible noted that the Executive Summary presented with this request was helpful and suggested providing a similar format for future considerations before the Board. MOTION: Coleman moved to approve the Assignment of Brownfield Reimbursement from 600 E. Michigan-Lansing, LLC to Huntington National Bank, as presented. Motion seconded by Schaible. YEAS: Unanimous. Motion carried. Update on Former EDS Site - BF Plan #74 Klein provided an update on Brownfield Plan #74 (Fmr. EDS Site). Interior build out has been completed and exterior improvements are close to receiving site-plan approval. Prospective purchasers are looking at the property as an Opportunity Zone investment and have approached the developers to purchase the development as a storage facility. If purchased, assignment of brownfield reimbursement would need to be approved by the LBRA Board. Open Forum for LBRA Board Members Chair Jones opened the floor to LBRA Board Members who provided the following announcements/updates: None were provided. Other Business No other business was presented. 2 Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 9:35 a.m. Karl,borshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, February 15, 2019 - 8:30 a.m. M3 Group 221 W Saginaw Street Lansing, MI 48933 Members Present: Calvin Jones, Thomas Donaldson, Blake Johnson, Shelley Boyd, Kimberly Coleman, Mayor Andy Schor, Andrea Ragan, James Butler III Members Absent: Fred Schaible Temp Members Present: None Staff Present: Karl Dorshimer, Marchelle Smith, Kris Klein, Anum Mughal Guests: Brian Lefler, Robert E. Baird Company Eric Helzer, Advance Redevelopment Solutions Christopher Stralkowski, Ferguson Development Jason Hockstok, Continental Real Estate Company Jennifer Stralkowski, MSHDA Steven Owen, Foster-Swift Jim Smeritka, City of Lansing Janet Michaluk , MI-Department of Environmental Quality Rhonda Jones, Lansing Board of Water & Light Public Present: None Recorded by: Tedi R. Parsons, LEAP Call to Order Chair Jones welcomed everyone and called the LBRA Board of Directors meeting to order at 8:58 a.m. Approval of LBRA Board Meeting Minutes- Friday, January 11, 2018 MOTION: Butler moved to approve the LBRA meeting minutes from the Friday, January 11, 2019 LEDC Board of Director's meeting as presented. Motion seconded by Johnson. YEAS: Unanimous. Motion carried. LBRA Financial Statements - Period Ending December 31, 2018 Smith provided an overview of the LBRA Financial Statements for the period ending YE December 31, 2018. She noted that they are currently working the City's finance department on the process of obtaining financial information from the City of Lansing. 1 Mayor Schor requested that Smith.provide an email to Samantha Harkins for follow-up. Discussion ensued. MOTION: Ragan moved to receive the LBRA Financials, period ending YE December 31, 2018, as presented and place on file. Motion seconded by Butler. YEAS: Unanimous. Motion carried. Approval for Brownfield Plan #72- Red Cedar Development Project (Action) Dorshimer provided an update on Brownfield Plan #72 - Red Cedar Development, advising that the LBRA Board of Directors are being presented a Resolution for the approval of Brownfield Plan #72 - Red Cedar Development project. Dorshimer introduced Christopher Stralkowski, Ferguson Development LCC, and introduced his team (Eric Helzer, Advanced Redevelopment Solutions, and Jason Hockstok, Continental Real-Estate Companies). The following point of interests were noted during the presentation: • Overview and history of the Red Cedar Development project and its many partners • Overview of the property location (site overview) • This is a mixed-use project (commercial and residential) • Overview of the property existing conditions - floodway and floodplain with 25 acres of open space/parkland • Construction projected to begin in August-September 2019 • Project will create almost 400 immediate full-time jobs (1,065 induced jobs) • Hotel is proposed to have upwards of 280 rooms (full service and extended stay) • Student Housing is projected to have upwards of 1,100 beds, 150 market rate units, 120 senior village facility • Discussion ensued over community engagement over the past five-years, which included three Charrettes • Overview of City Financial Protection Measures • Overview of the floodplain and integrated parking structure • Overview of Estimated Gain in Taxes and public benefits • Overview of Total New (Incremental) Taxes Captured Estimate • Lefler provided an overview of the Debt Reserve Fund being setup • Overview of Next-Steps for this large-scale project MOTION: Coleman moved to approve the Resolution for Brownfield Plan #72 - Red Cedar Development Project, as presented. Motion seconded by Butler. YEAS: Unanimous. Motion carried. Open Forum for LBRA Board Members Chair Jones opened the floor to LBRA Board Members who provided the following announcements/updates: 2 None were provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the LBRA meeting adjourned at 9:54 a.m. Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3 Lansing Brownfield Redevelopment Authority Board of Director's Meeting Minutes Friday, January 11, 2019 - 8:30 a.m. LEAP Office- Executive Boardroom 100 S Washington Avenue, Suite#201 Lansing, MI 48910 Members Present: Andrea Ragan, Calvin Jones, Blake Johnson, James Butler III, Mayor Andy Schor, Shelley Boyd, Fred Schaible, Kimberly Coleman, Thomas Donaldson Members Absent: None Temp Members Present: None Staff Present: Karl Dorshimer, Marchelle Smith, Kris Klein, Anum Mughal Guests: None Public Present: None Recorded by: Tedi R. Parsons, LEAP Call to Order Chair Ragan welcomed everyone and called the LBRA Board of Directors meeting to order at 8:48 a.m. Approval of LBRA Board Meeting Minutes- Friday, December 7, 2018 MOTION: Coleman moved to approve the LBRA meeting minutes from the Friday, December 7, 2018 LEDC Board of Director's meeting as presented. Motion seconded by Johnson, YEAS: Unanimous. Motion carried. Application to EPA-Assessment Grant Funding (Update) Klein provided a brief overview of the application for the EPA Assessment Grant for $600,000, which has been handled by the LBRA in the past and how this grant will be part of the five member coalition (City of Lansing, City of East Lansing, Clinton, Eaton and Ingham Counties). There is no action required today, as this was approved at the December 7, 2018 LBRA meeting. Klein noted that all the funds from the 2015 grant have been used and allocated for. The City of Lansing will be the fiduciary agent for this grant. Discussion ensued. Open Forum for LBRA Board Members Chair Ragan opened the floor to LBRA Board Members who provided the following announcements/updates: None were provided. Other Business No other business was presented. 1 Public Comment None was provided. Adjournment There being no further business, Chair Ragan declared the LBRA meeting adjourned at 8:53 a.m. Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2