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HomeMy WebLinkAboutLansing Building Authority 2003 Minutes yhN 5 7 D )artment of Law I - MEMORANDUM I C H 1 G TO: DEBBIE MINER, CITY CLERK FROM-KATHLEEN M. LESPERANCE, Office Administrator;• DATE: FILING REQUEST: Minutes of a Special Meeting of the RE: Lansing Building Authority held on December 10, 2003 January 8, 2004 Please file the attached original minutes of the December 10, 2003, Special LBA Meeting, which were approved on January 8, 2004, at a Regular Meeting of the Lansing Building Authority. Thank you for your assistance. r /kml Attachment 7 r- r FASHARED\CityDept\City Clerk\2003\LBA minutes 112003 filing.wpd Approved by LBA at a Regular Meeting on January 8, 2004 MINUTES OF A REGULAR MEETING OF THE LANSING BUILDING AUTHORITY HELD ON DECEMBER 10, 2003, 1:30 p.m. Members Present: David Berridge, Chairperson James D. Smiertka, Secretary Jill Rhode, Treasurer Others Present: James Ruff, Director of Planning & Development Shane Silsby, Transportation Engineer Randy Ensley, Finance Dept. Mike Peplowski, Boji Group Mike Ortlieb, Carl Walker, Inc. Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the Public Service Department, 71'Floor Conference Room, and was called to order by David Berridge, at 1:34 p.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: Jim Smiertka moved to approve the minutes of the November 20, 2003 Regular Meeting of the Lansing Building Authority; supported by Dave Berridge; carried 3- 0. 2. TOWNSEND RAMP PROJECT: Status Report and Pamquest: Jim Ruff was present and provided the members with an update regarding this project and indicated that there is one pay request before the LBA today. Detailed explanation regarding the pay request was provided by Mr. Ruff and discussion ensued thereafter. The current draw request before the LBA today is in the amount of$1,546,699.84. Mr. Smiertka asked whether Lansing businesses are being hired as subcontractors and Mr. Peplowski answered affirmatively. Mr. Smiertka asked Mr. Peplowski to keep a record pertaining to this issue for future reference. [Mr. Ortlieb and Mr. Silsby arrived at 1:41 p.m.] Mr. Peplowski indicated that there are no prevailing wage issues. The title endorsement is updated and sworn statements are in the package. The only thing which is not in this package is the Yd party consultant statement. Mr. Silsby explained some of the figures on 1 Approved by LBA at a Regular Meeting on January 8, 2004 the continuation sheet and discussion ensued. Thereafter, Mr. Peplowski explained the derivation of the contingency costs. Mr. Berridge asked about the "Paid To Date" column on the sworn statement and discussion ensued. Mr. Ortlieb from Carl Walker, Inc. explained these figures. Mr. Smiertka asked about the "Notice of Furnishing" column and Mr. Peplowski indicated that they have received them. Motion was made by Jill Rhode to approve the pay request in the amount of $1,546,699.84 dated December 2, 2003; supported by Jim Smiertka; Pay Request Approved 3-0. 3. Other Business: Approval of Amended 2004 LBA Regular Meeting Schedule Mr. Smiertka moved to approve the amended schedule for 2004 for the Lansing Building Authority and that meetings be held on the 2"' Thursday of every month at 8:15 a.m.,with the exception of the November meeting which will be held on November 18, 2004 (rather than November 11,Veteran's Day) in the Vh Floor Conference Room; supported by Dave Berridge; the amended 2004 Schedule of the Regular Meetings of the Lansing Building Authority was approved by 3-0 vote. 4. Public Comment: None Motion was made by Jim Smiertka to adjourn the meeting; supported by Dave Berridge and the meeting was adjourned at 2:18 p.m. by 3-0 vote. Recorded and Submitted by: 'Kathleen M. L'�per ce, Recording Secretary Office Administrator, City Attorney's Office 2 S ' De artment of Law MEMORANDUM cHIG.P� DEBBIE MINER, CITY CLERK FROM: KATHLEEN M.LESPERANCE,Office Administra DATE: FILING REQUEST: Minutes of a Special Meeting o the l: Lansing Building Authority held on December 10,2003 CD RE: December 30,2003 Please file the attached original minutes of the November 20, 2003,Regular LBA Meeting,which were approved on December 10, 2003, at a Special Meeting of the Lansing Building Authority. Thank you for your assistance. /Ianl Attachment FASHARED\CityDept\City Clerk\2003\LBA minutes 050203 filing.wpd Approved by the Lansing Building Authority at a Special Meeting on 12110103 MINUTES OF A REGULAR MEETING OF THE LANSING BUILDING AUTHORITY HELD ON NOVEMBER 20,2003, 10:30 a.m. Members Present: David Berridge, Chairperson James D. Smiertka, Secretary Others Present: James Ruff, Director of Planning&Development Shane Silsby, Transportation Engineer Randy Ensley, Finance Dept. Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the Public Service Department, 7`h Floor Conference Room, and was called to order by David Berridge, at 10:43 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: Jim Smiertka moved to approve the minutes of the November 5,2003 Special Meeting of the Lansing Building Authority; supported by Dave Berridge; carried 2- 0. 2. TOWNSEND RAMP PROJECT: Status Report: Jim Ruff was present and provided the members with an update regarding this project and indicated that there are no pay requests to bring before the LBA today. Mr. Ruff advised that above ground construction is scheduled to begin on January 5, 2004. Details regarding the construction of the parking ramp wall and thickness were discussed in addition to DCI and apoxy coating. Mr. Silsby was present and provided greater detail regarding the specifics of this issue and how it relates to the Development Agreement. Mr. Berridge asked where the conflict is and Mr. Ruff advised that it is between the Development Agreement and the Appendix. Mr. Smiertka advised that Mr. Ruff can discuss this matter with Jack Roberts, Chief Deputy City Attorney,regarding this because he worked out the Development Agreement with Pat Reid who is the attorney for the Boji Group. Mr. Silsby indicated that this could have happened at the end of the negotiations in finalizing the Development Agreement. Mr. Ruff advised that under#45 of the Appendix, it goes from two gallons to three gallons of DCI and the only time two gallons was in the original plan and was in regard to the "T's" Mr. Berridge advised that the structural elements should get three gallons. Mr. Silsby agreed with that recommendation. Further discussion ensued regarding this issue. 1 Approved by the Lansing Building Authority at a Special Meeting on 12110103 3. Other Business: Mr. Ruff advised he will need a meeting during the I"week of December and the LBA agreed to have a special meeting on Wednesday, December 3, 2003, at 8:15 a.m. in the 7`h Floor Conference Room. Mr. Smiertka noted that Doug Rubley is retiring tomorrow,November 21, 2003, and that he has been employed with the City of Lansing for 30 years. The LBA members indicated that Mr. Rubley did an outstanding job as Finance Director and also as the Treasurer of the Lansing Building Authority during his tenure with the City. Mr. Smiertka moved to approve a schedule for 2004 for the Lansing Building Authority and that meetings be held on the 2" Thursday of every month at 8:15 a.m. in the 7` Floor Conference Room; supported by Dave Berridge; the 2004 Schedule of the Regular Meetings of the Lansing Building Authority was approved by 2-0 vote. 4. Public Comment: None Motion was made by Jim Smiertka to adjourn the meeting; supported by Dave Berridge and the meeting was adjourned at 11:15 a.m. by 2-0 vote. Recorded and Submitted by: K leen M—L-e'spe rice, Recording Secretary Office Administrator, City Attorney's Office 2 Department of Law _ MEMORANDUM ICHIGe� o� TO: DEBBIE MINER, CITY CLERK F 7®DE: KATHLEEN M. LESPERANCE, Office Administrato DA TZ: NOVEMBER 24,2003 PRE: FILING REQUEST: LBA Minutes: Special Meeting of the Lansing Building Authority held on November 5, 2003 Please file the attached original minutes of the Lansing Building Authority referenced above which were approved by the LBA on November 20, 2003. Thank you for your assistance. /kml Attaclunents FASHARED\CityDept\City Clerk\2003\LBA minutes 101603 filing.wpd Approved by the LBA at a Regular Meeting on 11/20/03013 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY, HELD ON NOVEMBER 5, 2003, 8:15 a.m. Members Present: David Berridge, Chairperson James D. Smiertka, Secretary [arrived at 8:40 a.m.) Douglas Rubley, Treasurer Others Present: Ron Boji, Boji Group Mike Peplowski, Boji Group James Ruff, Director of Planning & Development Randy Ensley, Finance Dept. Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5th Floor Conference Room, and was called to order by David Berridge, at 8:30 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: Doug Rubley moved to approve the minutes of the October 16, 2003 Special 25 Meeting of the Lansing Building Authority; supported by Dave Berridge; carried 3- 0. 2. TO"SEND RAMP PROJECT: Status Report: Jim Ruff reviewed the details of Pay Request#2 regarding this project which includes $631,000 of the additional work which has been completed within the past month from September through October which includes CM Fees and Supervision Fees. Work is continuing even with the change of weather and much of the gravel has been put in place for the trucks to have access. Mr. Ruff explained the details of the work which has been completed. The cover sheet of this pay request is from Tower Ramp to the LBA. The total Pay Request#2 is in the amount of$1,100,586.40. A note was made that Pay Request#1 was in the amount of$653,902.50 and approved by the LBA at the Special Meeting on October 16, 2003. The members discussed the details of this draw request for clarification and the percentage factor. [James Smiertka arrived at 8:40 a.m.] Mr. Endsley from the Finance Department provided a cash flow summary sheet which is dated 10/31/03. Discussion ensued regarding same. Mr. Berridge asked if there could be an additional column which reflects the MEDC cash receipts. Mr. Rubley advised that this 1 Approved by the LBA at a Regular Meeting on 11/20/03 summary sheet is reflective of the Development Agreement, and therefore, it shows the withholding of 10% from each pay request for the retention prior to the net figure. Mr. Berridge asked if we could have the AIA form and cash summary sheet reflect the same figures. Mr. Ruff advised this has been explained in a prior communication. Mr. Ruff further advised that there has already been discussion on this and the next one will reflect a starting point of the 19 Million Dollars, less the 10% which will match. Mr. Berridge would like the documents to be clearer as to the $122,287.38. Mr. Ruff asked that Randy Endsley revise the summary sheet to reflect this concern. Mr. Rubley advised that this format issue can be worked out and this process is satisfactory. Mr. Ruff advised he can also provide a cover sheet to address these concerns in the future. Mr. Rubley would like these pay requests to be reflective that if the office building does not go up with the ramp, we can have a methodology to address this concern. Mr. Ruff will work with Mr. Endsley to make sure these monies are clarified to match the AIA form. Motion by Doug Rubley to approve Pay Request#2; supported by Jim Smiertka; Mr. Berridge asked if we have the Engineer's certification and Mr. Ruff advised that we do not have the Engineer's certification, however, we do have all the signed documents and the endorsement by the title company. Mr. Ruff advised that we will be getting the endorsement from the engineer very soon. Mr. Rubley clarified his motion to include that before a payment can be made that the checklist must be reviewed to ensure that all of the required certifications have been received. Mr. Berridge advised that he prefers that all of the required certifications be brought to the LBA at the time of the pay request for approval. Mr. Smiertka provided support to Mr. Rubley's motion; Mr. Rubley amended his motion to reflect that all the certifications will be received and have been checked off the checklist before the actual payment is made, and further moved that Pay Request 42 be approved; supported by Jim Smiertka; Pay Request #2 approved by 3-0 vote. 3. Other Business: Mr. Berridge advised he would like to have the minutes reflect that the LBA has received to place on file, Mr. Ruff s confidential memo dated October 27, 2003 regarding the summary of Draw Request#1. Also,that the minutes reflect the LBA has received to place on file the letter from Mark Hogle of the Accident Fund dated October 29, 2003, regarding the openings on the East side of the parking ramp. 4. Public Comment: None Motion was made by Doug Rubley to adjourn the meeting; supported by Dave Berridge and the meeting was adjourned at 9:06 a.m. by 3-0 vote. Recorded and Submitted by: *ath-I/e�enM. Lesper ce,Recording Secretary Office Administrator, City Attorney's Office 2 yP� Si Depc,"tment of Law _ MEMORANDUM �rrC H t G.P� TO: DEBBIE MINER, CITY CLERK FROM: KATHLEEN M. LESPERANCE, Office Administrat DATE: NOVEMBER 12, 2003 RE: FILING REQUEST: LBA Minutes: Special Meeting of the Lansing Building Authority held on October 16,2003 Please file the attached original minutes of the Lansing Building Authority referenced above which were approved by the LBA on November 5,2003. Thank you for your assistance. /kml Attachments co ry - r ca (. C L_ a FASHARED\CityDept\City Clerk\2003\LBA minutes 100803 filing.wpd Approved and adopted by the LBA at a Special Meeting held on November S, 2003 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON OCTOBER 16,2003, 9:00 a.m. Members Present: David Berridge, Chairperson James D. Smiertka, Secretary Douglas Rubley, Treasurer Others Present: Ron Boji, Boji Group Hani Mio, Boji Group Mike Peplowski, Boji Group Jill Rhode, Deputy Finance Director, City of Lansing James Ruff, Director of Planning & Development Shane Silsby, Transportation Engineer Randy Ensley, Finance Dept. Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5`h Floor Conference Room, and was called to order by David Berridge, at 9:10 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: Jim Smiertka moved to approve the minutes of the October 8,2003 Special Meeting of the Lansing Building Authority; supported by Doug Rubley; carried 3-0. Dave Berridge deferred discussion on Agenda Item No. 2 "Townsend Ramp Project", and addressed agenda item No. 4, "Public Comment". 2. PUBLIC COMMENT: None 3. TOWNSEND RAMP PROJECT: Status Report: Mr. Silsby was present and provided information regarding the current status of the Townsend Ramp Project. As far as construction,there is to be a final plan submitted on October 20, 2003, and there will be a meeting with the architects on October 17, 2003. Construction is on schedule at this point. There are no major issues to report. Also,he advised that they will be submitting a waiver request within the next week to be able to work longer hours on the site. 1 Approved and adopted by the LBA at a Special Meeting held on November S, 2003 Discussion ensued regarding the waiver request. Mr. Smiertka asked if all of the details are taken care of on the bonds. Mr. Mike Peplowski indicated that there was a discussion and all performance bonds have been completed. Mr. Smiertka asked that anything of that nature should go through Jim Ruff who will provide these documents to the LBA. Mr. Silsby advised that Mr. John M. Roberts, Chief Deputy City Attorney, is working on the easements between the two buildings which would allow for the convenience of openings between the two buildings for a passageway from one building to another and this would satisfy the building code issue. There are currently two proposed stair towers. Details regarding the easement and code issues were discussed. Mr. Ruff advised that at the last LBA meeting the members requested that he send a letter to Mr. Hogle of the Accident Fund regarding the parking ramp and that the City prefers the plan which included openings in the East wall, rather than a solid wall. Mr. Ruff spoke with an Accident Fund representative and told him that he would like a letter of confirmation from Mr. Hogle regarding their position on this issue. Pay Request Process: Mr. Ruff advised that we are in receipt of a signed AIA form from Clark Construction and it is the form which the LBA recommends be used for submission of pay requests for this project. Also, that the LBA wants a list of the costs so that the project engineer who is reviewing this for the City and the Developer can evaluate the percentage of work completed. This recommendation has been discussed with the Boji Group and a draft pay request has been received from the Boji Group. This new pay request outlines all of the costs from construction and soft costs, and also includes reimbursables and other miscellaneous costs. Mr. Ruff advised that the pay request details all of the costs. The authorized signature is also still needed and the signature of the project engineer,however, he wanted to provide the LBA with this draft request prior to signing the request. Mr. Ruff advised that this seems like a reasonable first draw request and it is only for ramp costs thus far. The official AIA form is for information only to give the LBA and City a status update on the entire project. Mr. Ruff reviewed the draft with the LBA and gave specific details regarding the contents of this pay request. Mr. Peplowski advised that on page 1, the costs relate identically with the Clark Construction's pay request which supports this pay request. Mr. Ruff explained that on page 2 it details the soft costs which include construction oversight and testing, and Clark's reimbursable by the Developer, etc. It was noted that Title Insurance still needs to be obtained. Mr. Ruff reviewed the surmnary on page 3 and explained all of the specific costs with the LBA members. The Sworn Statement was also reviewed which was submitted at the October 8, 2003 LBA meeting from Clark Construction. Mr. Berridge advised that on page 2, the figure of $6,991 for the CM fee should be $5,182 per the documents submitted from Clark 2 Approved and adopted by the LBA at a Special Meeting held on November 5, 2003 Construction. Mr. Smiertka advised that this process is fine, however there are a few questions on the dollar amount. Mr. Peplowski agreed that in regard to the CM fee of $6,991, it is an error, and it should be $5,182. Further discussion ensued regarding specific pay request amounts. Mr. Berridge advised that these figures must be the same as with the AIA form. Mi.. Peplowski explained that the CM fee with more detail which explains why the supervision figure is also not correct. Mr. Peplowski advised that reimbursables are on this form as Clark Construction has placed this on their forms as a matter of course. Mr. Ruff advised that some of these costs are one time costs so reimbursing the costs such as the fees which are direct to the project can be paid, such as the title fee of$38,867. Mr. Ruff advised that you would not see the miscellaneous reimbursable in the Clark Construction AIA form. Those dollars represent the budgeted dollars for those costs that come up to approximately 5%, which is the amount of $282,559.58 under the "Current Invoicing" column of this pay request. The final item before payment is the AIA form from the Boji Group,the present documents submitted today, waivers of lien and the AIA form from Clark Construction. Mr. Rubley asked specific questions regarding MEDC payment. Mr. Ruff advised that the City could have an account set up for the MEDC fluids and then one check could be issued after receipt of the MEDC funds. Mr. Rubley advised that he would prefer that the process for payment be that the City receives the pay request from Tower Development, and payment is made, less the MEDC portion, and then when City receives the money from MEDC, another check can be issued. Mr. Rubley advised that he is satisfied with how the pay request has been presented and Mr. Rubley moved to approve the first draw request as long as the appropriate certifications have been received from the Planning and Neighborhood Development Department. All that is needed to be provided to MEDC is a cover memo which shows the $422,219 directly attributable to the ramp with the waiver and such which is strictly hard costs. Mr. Smiertka indicated that the LBA approved the process at the October 8, 2003 LBA meeting and he has no problem with the pay request presented today. Mr. Berridge advised that the waiver form should be the same as that which was submitted by Clark Construction. Mr. Berridge asked about the miscellaneous reimbursables and which part is LBA going to request the partial unconditional waiver(s). Mr. Smiertka indicated that the title insurance company is going to need the partial unconditional waivers. Mr. Peplowski indicated that he has spoken with Rich Hicks at the title company who advised him that the engineering firms are the only party for whom they would need to redo the title insurance and partial unconditional waivers. This pay request is less than the amount approved for the first pay request which is detailed in Schedule H of the Development Agreement. Mr. Rubley indicated that because Dave Berridge had an issue with the AIA form tying to the closing documents, he made adjustments. This was done to accommodate the need to correlate with the Clark Construction AIA form. Mr. Ruff indicated that in Exhibit G of the Development Agreement it explains how these figures were obtained. Discussion ensued on the details of this request. Clarification was provided from last week's meeting in that the retainage should have been included in the documents presented at that time. Mr. Smiertka advised 3 Approved and adopted by the LBA at a Special Meeting held on November S, 2003 he is looking to the title company to advise us what they need in regard to the waivers. Mr. Ruff advised that he has a recorded Deed for the LBA which he has not personally reviewed. Mr. Rubley restated his motion to approve the first pay request assuming all conditions previously mentioned are met and that MEDC funds will be released after the LBA receives them, and that nothing done here today has changed the original Development Agreement; supported by Jim Smiertka; Doug Rubley mentioned that he may have caused a problem because he thought there was a problem with the details of this request and Schedule H of the Development Agreement and therefore, he apologized for the misunderstanding; Mr. Berridge advised that the Project Manager, Jim Ruff, is to review the pay request in regard to the estimated 13 Million Dollars dated October 14, 2003, relating to direct hard costs. Further discussion ensued regarding the specific details of this pay request. Mr. Berridge advised the Boji Group and the LBA how he would like this documentation arranged under the category of prepaids and the estimate that from a percentage standpoint the larger the numbers are at the top of this page, the better this document appears. They would like Architects and Engineering costs at the top category section of this documentation. Mr. Peplowski indicated that if they move the Architects and Engineering costs into the other category, it would then change the percentage in the soft cost category. Mr. Berridge feels this should not impact anything else. Further discussion ensued on the motion relating to the draw request. Mr. Peplowski asked that if we count them as soft costs, do we count them as a percentage of completion as well? Mr. Berridge responded, that"no it does not". Mr. Berridge advised that these are construction costs. Mr. Berridge advised that percentage is calculated on hard costs and not soft costs. Mr. Smiertka advised he will move to call the question; supported by Doug Rubley; motion approved by 3-0 vote to call the question. Mr. Berridge wants to see the final draw request and clarified that its not that the draw request before us today does not comport with the process, he just wants to see the final draw request to make sure all calculations are present. Mr. Berridge indicated that from a project management standpoint, they need to hand Carl Walker Engineers the documents which provide progress on the ramp, and since these are not the final figures he cannot measure the percentage of completion on the job. Mr. Berridge indicated that he believes that the more monies allocated to the soft costs and if it is balanced out as we go along as direct reimbursables, and it gets closer to the 17 million dollars in the schedule, the more comfortable he will become. Mr. Rubley indicated that he needs to see this pay request concluded so that the request can be made to MEDC. Mr. Berridge advised that he wants the following items in the pay request: Developer's Overhead; Marketing Costs; and that Leasing Commissions and Consultant Costs are not to be included within the soft costs. Mr. Rubley requested that the Chairperson put in writing how he wants this done. Mr. Rubley is willing to wait on the payment until the LBA Chairperson is satisfied with the pay request. Mr. Smiertka advised that it is his understanding that the project 4 Approved and adopted by the LBA at a Special Meeting held on. November 5, 2003 manager will be calculating hard costs to obtain the correct percentage of completion. Mr. Smiertka further advised that he will not change his vote today. Mr. Rubley asked whether the 1't page will be used to calculate the percentage of completion, or is section 1 and 2. It was requested by Mr. Berridge that only section 1 be used as it tied directly to construction. Mr. Rubley asked the members to reconsider the motion; Motion by Jim Smiertka to reconsider the motion; supported by Dave Berridge; motion to reconsider approved 3-0. Motion was made by Mr. Rubley to approve the pay request for draw #1 using the percentage of completion in section one for releasing funds in section 3; Motion supported by Jim Smiertka; motion carried by unanimous vote 3-0. [Mr. Smiertka was excused from the meeting to attend another meeting engagement. 10:40 a.m.] Mr. Boji asked for clarification and Mr. Rubley provided that to Mr. Boji; Mr. Peplowski asked about the soft costs. Mr. Boji advised that the Development Agreement outlines the percentage of completion and what it is based upon. Mr. Rubley advised that 100% of soft costs are paid. Mr. Rubley advised that about 10% of the total project costs will not be part of the equation. Mr. Boji asked for a date that he can count on when he will receive payment and Mr. Rubley advised that he will receive payment one day after Mr. Ruff provides the appropriate documentation to the City of Lansing Finance Department. Mr. Ruff advised that he is in receipt of the Deed and Title Company's Owner's Policy Record. The Deed is for property described in the Development Agreement as Exhibit A which includes both the ramp and the office building. Review of Financial Summary dated 9/30/03: No discussion was held on this agenda item. 4. Other Business: None. Motion was made by Doug Rubley to adjourn the meeting; supported by Dave Berridge and the meeting was adjourned at 10:52 a.m. by 2-0 vote. Recorded and Submitted by: lathln M. Lesper n , Recording Secretary ee ffice Administrator, City Attorney's Office 5 N S '" Department of Law _ MEMORANDUM �ICHIGP� TO: DEBBIE MINER, CITY CLERK FROM: KATHLEEN M. LESPERANCE, Office Administrat DATE: OCTOBER 16,2003 RE: FILING REQUEST: LBA Minutes: Special Meeting of the Lansing Building Authority held on October 8,2003 Please file the attached original minutes of the Lansing Building Authority referenced above which were approved by the LBA on October 16, 2003. Thank you for your assistance. /kml Attachments CD r GJ FASHARED\CityDept\City Clerk\2003\LBA minutes 091703 filing.wpd Approved by the LBA at a Special Meeting on 10/16/03 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON OCTOBER 8, 2003, 8:15 a.m. Members Present: David Berridge, Chairperson James D. Smiertka, Secretary Douglas Rubley, Treasurer Others Present: James Ruff, Director of Planning & Development Shane Silsby, Transportation Engineer Randy Ensley, Finance Dept. Emil Winnicker, Development Director Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5"'Floor Conference Room, and was called to order by David Berridge, at 8:05 a.m.; roll call was taken and a quorum was present. Mr. Berridge and Doug Rubley were the only members present. Motion by Doug Rubley to recess the meeting until 9:00 a.m.; supported by Dave Berridge; meeting recessed by 2-0 vote to reconvene at 9:00 a.m., October 8,2003. 9:30 a.m. October 8, 2003: Doug Rubley moved to come out of recess and James Smiertka supported the motion; motion carried 3-0 and the meeting was reconvened at 9:30 a.m., October 8, 2003, in the Lansing City Attorney's Office Conference Room, 5`h Floor, City Hall, Lansing,Michigan. Mr. Emil Winnicker was present and advised that he needs the documentation for the ramp from the Michigan Economic Development Corporation. This documentation must include the waiver and confirmation that the work has been done. Mr. Winnicker recommends that everything covers just the ramp. Mr. Winnicker left the meeting at 9:35 a.m. 1. APPROVAL OF MINUTES: Jim Smiertka moved to approve the minutes of the September 24, 2003 Special Meeting of the Lansing Building Authority; supported by Doug Rubley; carried 3-0. 2. TOWNSEND RAMP PROJECT: Status Report: Mr. Silsby was present and advised that the foundation permit has been issued Mr. Silsby provided details of the current status on the excavation on the project site. Mr. Rubley asked whether they are on schedule and Mr. Silsby advised affirmatively, however, they did find some gasoline in the soil on the site but this has been removed and taken care of Approved by the LBA at a Special Meeting on 10/16/03 by the Developer. There is rubble they are breaking into on the north end of the site where an old church used to be located. There was some discussion on the electrical vault to make sure the City has a separate system. Specific details were provided by Mr. Ruff in regard to this issue. The City's vault will be located in the right-of-way and it will be a dry transformer. Mr. Ruff advised that they met with Mark Hogle of the Accident Fund and discussed the design of the east wall of the ramp. Mr. Hogle advised that the Accident Fund wants this to be a solid wall, rather than the one recommended by the City which allows for open air. The City would need to obtain an easement from the Accident Fund if they were to change their mind and allow for the design which would include openings. Mr. Ruff advised that the only easement proposed is between the Ellis Ramp and the new parking ramp for a passageway through one floor. Mr. Hogle had not heard of this but would not have a problem with this. Mr. Rubley requested that Mr. Ruff prepare a letter to Mr. Hogle confirming the recommendation of the open design by the City and request that this issue be brought before the Accident Fund Board, and also confirm Mr. Hogle's position to date is to stay with the plan for the solid wall design. Pay Request Process: Mr. Ruff advised that he has distributed a draft pay request to the members of the Lansing Building Authority. Review of the process and documents were discussed at length. The members were in agreement that the LBA wants the application for payment to include sworn statements and waivers of lien and referred to the Clark Construction payment request as an acceptable form with the appropriate attachments. Each application for payment should show the certificate of completion of the project based on the total construction as outlined in Schedule H of the Development Agreement. 3. Other Business: Motion by Doug Rubley to receive the financial statement summary of the Townsend Street Ramp dated 9/30/03 from Randy Ensley which will be reviewed and discussed at the next LBA meeting; supported by Jim Smiertka; motion carried 3-0. 4. Public Comment: None Motion was made by Jim Smiertka to adjourn the meeting at 11:08 a.m.; motion supported by Dave Berridge; motion carried 3-0. Recorded and Submitted by: athleen M. Lespe e, Recording Secretary Office Administrator, City Attorney's Office tiPN S ' Dep"Ament of Law MEMORANDUM ICHiGP� s� TO: DEBBIE MINER, CITY CLERK FR®PuT: KATHLEEN M. LESPERANCE, Office Admin' tra o � DATE: OCTOBER 2, 2003 FILING REQUEST: LBA Minutes: Special Meeting of the Lansing Building Authority held on September 17,2003 Please file the attached original minutes of the Lansing Building Authority referenced above which were approved by the LBA on September 24,2003. Thank you for your assistance. /kml Attachments co LJ o FASHARED\CityDept\City Clerk\2003\LBA minutes 091003 filing.wpd Amended and Approved by the LBA at a Special Meeting 9124103 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON SEPTEMBER 17,2003, 8:00 a.mi Members Present: David Berridge, Chairperson James D. Smiertka, Secretary Members Absent: Douglas Rubley, Treasurer Others Present: Shane Silsby, Transportation Engineer Michael Ortlieb, Carl Walker, Inc. Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5th Floor Conference Room, and was called to order by David Berridge, at 8:13 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: Jim Smiertka moved to approve the minutes of the September 10, 2003 Special Meeting of the Lansing Building Authority; supported by Dave Berridge; carried 2- 0. 2. TOWNSEND RAMP PROJECT: a. Discussion on Process for Payment of Draw Requests Mr. Silsby advised that there is nothing in writing at this point, however,the plans are to get a plan and move those to Michael Ortlieb of Carl Walker, Inc. as Project Inspector. Once the Boji Group has the foundation permit we can move forward. The Boji Group contractor will submit invoices to Transportation and they will be reviewed and discussed with Mike Ortlieb to make sure the work was done and then they will be submitted to the LBA for approval. Mr. Smiertka advised that on page 4 of the Development Agreement under Section 1.3(b) it details the process and specifically, that there needs to be a title update which is approved by the title company who then submits it to the LBA. Discussion ensued regarding this issue. Shane Silsby advised that he has requested an updated schedule on the construction project and the parking ramp construction schedule. Mr. Ortlieb advised that if there is a change the contractor will submit the change to the Approved by the LBA at a Special Meeting 9124103 Architect. Mr. Smiertka asked how a change order would come into play. Mr. Berridge advised that the contractor and architect look at the proposed change and determine what needs to be done and if there is a cost involved, then the architect will prepare a bulletin which would be costed and then prepared into a change order. Mr. Silsby advised that the Developer is responsible for any changes and the only cost to the City would be for a change order which is requested by the City. Anything under $5,000 is the Developer's cost, and the general rule is that unless the City requests it,the Developer must pay. b. Update on the Townsend Ramp Project Mr. Silsby indicated that there is a vault issue and a steam line issue with a cost of approximately $15,000 to repair and replace the cap on the electrical vault which does not have the correct configuration to feed the ramp. This item is covered in our revenue estimate however, the valve cap has not been covered and the contractor will have to pay for that item. The remainder of the revenue cap will be used to cover the cost of the vault cap. These costs are estimates at this time and the developer will be presented with this information. This is an unforeseen construction cost. Jim Smiertka indicated that Section 2.5(d), Subsection iii III., V., covers this type of issue. Mr. Berridge asked if the permanent retaining wall issue has been resolved and Mr. Silsby provided the LBA members with the background on this matter and the options involved. The Developer chose to leave the boards in place which ended up being in the City right-of-way. This is on the North side of the building. A permit was issued and placed on a map. Those will be cut off at 7 ft. to be below for utilities. The permit has been signed and the retaining system will remain in place. 3. Other Business: None 4. Public Comment: None Motion was made by Jim Smiertka to adjourn the meeting at 8:44 a.m.; motion supported by Dave Berridge; motion carried 2-0. Recorded and Submitted by: ,.. . r ... Rat leen M. Le Bran , Recording Secretary Office Administrator, City Attorney's Office yPJ'A S 1.1 Department of Law , MEMORANDUM ICHIGP� L� TO: DEBBIE MINER, CITY CLERK FROM: KATHLEEN M. LESPERANCE, Office Administrat DATE: SEPTEMBER 22,2003 RE: FILING REQUEST: LBA Minutes: Special Meeting of the Lansing Building Authority held on September 10,2003 Please file the attached original minutes of the Lansing Building Authority referenced above which were approved by the LBA on September 17,2003. Thank you for your assistance. /kml Attachments r w ►I i:1 c FASHARED\CityDept\City Clerk\2003\LBA minutes 091003 filing.wpd Approved by the LBA at a Special Meeting on 09117103 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON SEPTEMBER 10,2003, 8:00 a.m. Members Present: David Berridge, Chairperson Douglas Rubley, Treasurer James D. Smiertka, Secretary [arrived at 8:21] Others Present: Shane Silsby, Transportation Engineer [arrived at 8:20 a.m.] Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5`"Floor Conference Room, and was called to order by David Berridge, at 8:11 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: Doug Rubley moved to approve the minutes of the August 13, 2003 Special Meeting of the Lansing Building Authority; supported by Dave Berridge; carried 2-0. Doug Rubley moved to approve the minutes of the August 21, 2003 Regular Meeting of the Lansing Building Authority; supported by Dave Berridge; carried 2-0. Doug Rubley moved to approve the minutes of the September 3, 2003 Special Meeting of the Lansing Building Authority; supported by Dave Berridge; carried 2- 0. 2. TOWNSEND RAMP PROJECT: a. Discussion on Process for Payment of Draw Requests Mr. Rubley advised that all payment requests are forwarded to Jim Ruff through the Project Manager. The LBA's Project Manager confirms that the work was done before payment is made. Mr. Ruff was not present to discuss this issue and the matter was deferred to a future meeting of the LBA when Mr. Ruff is present. b. Update on the Townsend Ramp Project Mr. Ruff was not present to discuss this matter and the discussion was deferred to the next meeting. Approved by the LBA at a Special Meeting on 09117103 C. Receipt of Documents for LBA Files Mr. Berridge asked that the record reflect that the LBA is in receipt of the Bond Transcript for the Townsend Ramp Project for its files. 3. Other Business: None 4. Public Comment: None Motion was made by Doug Rubley to adjourn the meeting at 8:22 a.m.; motion supported by Dave Berridge; motion carried 2-0. Recorded and Submitted by: VathlMn M. Lesperance, Recording Secretary Office Administrator, City Attorney's Office Approved by LBA at a Special Meeting on 09110103 ED r-7 MINUTES OF A SPECIAL MEETING OF; ; THE LANSING BUILDING AUTHORITY HELD ON SEPTEMBER 3,2003, 8:00 Members Present: David Berridge, Chairperson Douglas Rubley, Treasurer James D. Smiertka, Secretary Others Present: Jim Ruff, Director of Planning &Neighborhood Dev. John M. Roberts, Jr., Chief Deputy City Attorney Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 51"Floor Conference Room, and was called to order by David Berridge, at 8:10 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: Deferred to next LBA meeting. 2. TOWNSEND RAMP PROJECT: a. Approval of Invoices for Professional Services related to Bond Issue Mr. Rubley explained the services contained in the invoices which were included in the original estimate, with the exception of$400 over the original estimate by Stauder, Barch &Assoc., and that he is requesting authorization to pay from the LBA. Mr. Rubley provided a copy of those invoices which are detailed as follows: • Moody's Investors Service, Invoice Date: 8/19/03, Amount: $10,600.00 • Stauder, Barch & Assoc., Invoice Date 08/19/03, Amount $16,006.00 • Stauder, Barch& Assoc., Invoice Date 08/19/03, Amount$14,468.00 Mr. Rubley indicated that Stauder, Barch& Assoc. will be performing additional follow- up services at no charge. Motion was made by Doug Rubley to authorize the LBA Treasurer to pay the above referenced invoices, and also one invoice from Miller Canfield, et al., for legal services related to this bond issue in the amount of $90,000.00; supported by Jim Smiertka; motion unanimously carried 3-0. b. Update on the Townsend Ramp Project Mr. Ruff provided the members with a copy of a summary sheet which provides the names and phone numbers of contact persons involved with the Townsend Ramp project. Discussion ensued. Approved by LBA at a Special Meeting on 09110103 [Continued discussion: Update on the Townsend Ramp Project] Jim Smiertka indicated that there may be a prevailing wage clause in the Development Agreement and the question has been raised by the Human Relations and Community Services Department as to whether it is to monitor the payment of prevailing wages. Jack Roberts, Jr., Chief Deputy City Attorney, indicated he will review the Development Agreement for a prevailing wage provision and the Project Labor Agreement Exhibit to determine whether Human Relations and Community Services is expected to monitor the Project. Mr. Roberts indicated that he will respond to Human Relations and Community Services. Mr. Roberts indicated that the book which contains the closing documents are being submitted to the Secretary of the LBA today to place in the LBA files. 3. Other Business: None 4. Public Comment: None Motion was made by Doug Rubley to adjourn the meeting at 8:27 a.m.; motion supported by Jim Smiertka; motion carried 3-0. Recorded and Submitted by: Kathleen��fspe�er�ncea�tcorl=� cretary Office Administrator, City Attorney's Office Approved at a Special LBA Meeting, Held September 10, 2003 1 (^� { �1.-1=k MINUTES OF A REGULAR MEETING`O.V-- 15 P { 2: 04 THE LANSING BUILDING AUTHORITY HELD ON AUGUST 21,2003 10:30 a.6i.. Members Present: David A. Berridge, Chairperson James D. Smiertka, Secretary Members Absent: Doug Rubley, Treasurer Others Present: Brian Bevez, Law Department Faith Rach,Recorded Minutes The meeting was held in the City Attorney's Office, 50i Floor Conference Room, and was called to order by Mr. Berridge at 11:07 a.m.; roll call was taken and a quorum was present. 1. DISPOSAL OF BLACK AND TAN PROPERTY Mr. Smiertka provided information regarding the background of the issue noting that the property was condemned and the Lansing Building Authority(LBA)became the owner of the property on January 13, 1993. As part of the settlement stated in the Court Order, LBA's sole obligation with regard to involvement with the personal property was to pay up to a maximum of$15,000 for the relocation or storage of the bar's personal property which had been located in the condemned River Street structure. On January 12, 2001, The City notified Combined Van Lines, Inc.,that monies encumbered under the Court Order would be depleted by the end of July 2001 which fulfills the obligation on the part of the City and LBA. Officers of Black and Tan have released all claims to the property and the LBA has no further obligation. Combined Van Lines, Inc. has requested additional funding to cover continued storage costs. A letter has been drafted in response to Combined Van Lines, Inc's request informing them that the City of Lansing and the LBA have no further obligation with regard to this matter. Mr. Smiertka moved to forward the letter drafted to Combined Van Lines,Inc.which communicates that the City has no further obligation and include with today's minutes information prepared by Denise Estee,of the Planning and Neighborhood Development office, which summarizes the City's obligation and the fulfillment of that obligation. Mr.Berridge seconded the motion. MOTION CARRIED UNANIMOUSLY. 2. Other Business: None. 3. Public Comment: None. 4. A motion was made by Mr. Berridge to adjourn the meeting at 11:12 a.m. Mr. Smiertka seconded the motion. MOTION CARRIED UNANIMOUSLY. Recorded and Submitted by: J(�ov� Faith Rach, Administrative Aide Public Service Department Approved by LBA at a Special Meeting 09110103 MINUTES OF A SPECIAL MEETING QF— THE LANSING BUILDING AUTHORITY HELD ON AUGUST 13,2003, 8:00 Members Present: Douglas Rubley, Treasurer James D. Smiertka, Secretary Members Absent: David Berridge, Chairperson Others Present: Jim Ruff, Director of Planning &Neighborhood Dev. John M. Roberts, Jr., Chief Deputy City Attorney Randy Endsley, Finance Department Emil Winnicker, Development Director Shane L. Silsby, Transportation Division John McComb, Budget Division Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5th Floor Conference Room, and was called to order by James Smiertka, at 8:15 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: 07/30/03 LBA SPECIAL MEETING and 08/05/03 LBA SPECIAL MEETING Doug Rubley moved to approve the minutes of the July 30, 2003 Special Meeting and August 5,2003 Special Meeting, supported by Jim Smiertka; motion carried 3-0. 2. PARKING RAMP PROJECT: TOWNSEND STREET AND ALLEGAN STREET a. Update on the Boji Project [Discussion was deferred to Agenda Item#3 "Approval of Transfers on Financial Accounts".] Jim Ruff indicated that last week there was a meeting with the Boji Group and they had applied for the road closing permit through the State, but not yet applied to the City. Mr. Ruff indicated that the issues regarding the stairs and elevators were settled. Mr. Ruff provided detailed information regarding those issues and the manner in which they were resolved regarding the construction of these items. Discussion ensued regarding other issues on the project. Approved by LBA at a Special Meeting 09110103 The new site plan and site plan review fees will be provided this week and Shane Silsby is working with the Project Engineer on this, in addition to other project tasks. A question came up regarding electrical services. They are working on getting separate electrical service for the parking ramp itself. The closing date is set for Monday, August 18, 2003 and by the 25'they would like to begin construction. Mr. Silsby also provided information regarding the status of this project. Mr. Roberts advised that he met with Pat Reid, the attorney for the Developer and they have reviewed the documents to be prepared for closing and who is responsible to have those items ready for closing, such as the Title documents. Mr. Rubley's understanding is that the first draw will be in accordance with Exhibit G of the Development Agreement. Mr. Smiertka asked if there were any issues with the Accident Fund regarding the title. Mr. Roberts provided information regarding the title issues and advised that he is working with the representative for the Accident Fund to make sure these issues are resolved prior to the closing. The first payment will be due at closing and Mr. Rubley needs to know who the check should be made payable to. Jim Smiertka moved to authorize the LBA Treasurer to disburse funds related to the parking ramp in the amount of approximately 3.1 million dollars, upon receipt of the updated title commitment, to cover the first draw and receipts that support the insurance policy per Exhibit G of the Development Agreement. For purposes of clarification, this ramp being built on the bond proceeds located at the corner of Townsend and Allegan Streets will be referred to as the "Townsend Ramp" until it has been officially named and the address designated; Motion supported by Doug Rubley; motion carried 2-0. Doug Rubley discussed the special financial matters regarding the draws. Shane Silsby asked if the LBA has any outstanding issues before the closing. Doug Rubley advised that there may be issues related to the Accident fund. Doug Rubley asked Jim Smiertka about any issues which might arise before the closing and asked if a tentative LBA meeting could be set in the event something comes up prior to the closing. The bond closing is set for 10:00 a.m., and the real estate closing is set for 12:00 p.m. (noon) on Monday, August 18, 2003. Jim Smiertka moved to set a special LBA meeting for Monday, August 18, 2003 at 2:00 p.m. to receive a report on the Townsend Ramp closing; supported by Doug Rubley. 3. Approval of Transfers on Financial Accounts: Doug Rubley advised that there are numerous items to clear up regarding accounts and therefore transfers are needed. Discussion ensued. Doug Rubley recommended that excess proceeds should used to make the bond redemption payment which is due October 1, 2004. Doug Rubley moved that LBA unappropriate any existing accounts in the 1988 LBA accounts and 1990 LBA bond issue and 1995 LBA Bond issue and that all residual Approved by LBA at a Special Meeting 09110103 balances be transferred to the Bond and Interest Redemption Account to make payment on October 1, 2004 after any reimbursements to the General Fund for any advance costs that may be outstanding. Discussion ensued and Jim Smiertka asked if they were all parking bonds and Mr. Rubley answered affirmatively. Further discussion ensued and Mr. Rubley advised that there was no cash left in the 1995 bond account. Jim Smiertka supported the motion; motion carried 2-0. Doug Rubley advised that the bond and interest redemption account balance will be approximately $344,000. Doug Rubley moved to appropriate funds to the LBA Operating Account balance of approximately $261,000 and based on the 2003 project which will include the Project Engineer and Project Manager, the LBA obligation.is $150,000. Mr. Rubley would like to appropriate $100,000 for the Project Manager and, in addition, based on the Development Agreement and sale of the bonds he would like to appropriate $81,000 for the 2003 Bond Issue closing costs. Motion supported by James Smiertka; motion carried 2-0. There was discussion on other various account balances of the LBA and how monies were handled on these matters specifically related to Oldsmobile Park. [Discussion returned to Agenda Item#2 "Parking Ramp Project .. Update on the Boji Project".] 3. Other Business: None 4. Public Comment: None Motion was made by Doug Rubley to adjourn the meeting at 9:00 a.m.; motion supported by Jim Smiertka; motion carried 2-0. Recorded and Submitted by: Kathleen M. Lespe�ance, Recording Secretary Office Administrator, City Attorney's Office yP10 S I G� D ?artment of Law ;) MEMORANDUM r cH ��P To: DEBBIE MINER, CITY CLERK ✓V6�,�-� From: KATHLEEN M. LESPERANCE, Office Administrator Date: SEPTEMBER 3, 2003 Re: FILING REQUEST: (2) Sets of LBA Minutes: Special Meeting of the Lansing Building Authority held on July 30,2003; and Special Meeting of the Lansing Building Authority held on August 5, 2003 Please file the attached original minutes of the Lansing Building Authority referenced above which were approved by the LBA on August 13, 2003. Thank you for your assistance. Ac nl Attaclunents FASHARED\CityDept\City Clerk\2003\LBA minutes 072503 filing.wpd Approved by LBA at the Special LBA Meeting of 8113103 M- i,') MINUTES OF A SPECIAL MEETING OFL(= _ s j , t,,2 THE LANSING BUILDING AUTHORITY HELD ON AUGUST 5,2003,3:00 p.m. L!'t' ��l�= Ci i'j" CLERK Members Present: David Berridge, Chairperson Douglas Rubley, Treasurer James D. Smiertka, Secretary Others Present: Bill Danhoff, Attorney Jim Ruff, Director of Planning&Neighborhood Dev. Shane Silsby, Public Service Dept., Transportation Div. Mary Jo Powell, Interim Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5"Floor Conference Room, and was called to order by Dave Berridge, at 3:05 p.m.; roll call was taken and two members were present at the beginning of the meeting -David Berridge and Doug Rubley. Jim Smiertka had advised the committee that he would be arriving late due to a conflicting meeting with another Department Director. 1. PARKING RAMP PROJECT AT TOWNSEND ST. AND ALLEGAN ST. a. Approval of Bond Sale Resolution The Chairperson opened the meeting by calling for discussion on the Bond Sale Resolution. Mr Danhof addressed the committee and presented each with a copy of the Resolution Approving Sale of Bonds along with a packet of information on Bond Pricing for their review prior to approving the Bond Sale Resolution. Discussion and questions ensued regarding the pricing of the various bond types, as well as the interest rate and yield. Mr. Danhof stated that all the figures in the documents would have been approved by the finance consultants. He also asked Mr. Rubley if he had a complete pricing book. Mr. Rubley responded that he did not, but had asked the consultants to send it directly to Mr. Danhof. Shane Silsby then had some questions regarding Cap I for Mr. Danhof. Explanation and discussion ensued regarding this issue. Doug Rubley explained that this documentation was an illustration of Cap I (Capitalized Interest), tax exempt and taxable bonds, etc. Further explanation by Mr. Danhof and Mr. Rubley followed regarding the bonds, contribution by the City and deposits to be made regarding this project. Mr. Smiertka arrived at the meeting during this discussion, at approximately 3:15. Discussion continued by members regarding moving of the market over the previous three weeks and the effects on the bond prices. Chairperson Berridge then asked that the minutes reflect the the March Proforma used to estimate the bond sales was 5.45 and sale of the bonds came in at 5.5, blended average (approximate), and Approved by LBA at the Special LBA Meeting of 8113103 he believes this figure is within the scope of the original financial estimate. Mr. Berridge then stated that he would entertain a motion on approval of the resolution. Doug Rubley moved for approval of the Resolution Approving Sale of Bonds; supported by Jim Smiertka; motion carried 3-0. b. Update on Boji Project David Berridge opened by asking for discussion on merits of closing the Real Estate transaction before the bond closing. Rubley stated that it was presumed that Boji would want the money at closing, therefore would need to have closed the bond sales before the Real Estate transaction. Mr. Danhof presented copies of a Non-litigation Certificate to Mr. Berridge and Mr. Smiertka for signing, and also presented 6 originals of the Limited Tax Full Faith and Credit General Obligation Contract of Lease for signing by them. Mr. Berridge asked the recording secretary, Mary Jo Powell, to facilitate in getting the remaining signatures (Mayor and Clerk) on the Lease, and handed the six originals over to her. Discussion continued regarding an update while Mr. Berridge and Mr. Smiertka signed the documents. Shane Silsby reported that pursuant to his information and research, the project developer currently does not have a building permit and no permit to close the street has been issued. Jim Ruff added that he has scheduled a meeting with Boji and crew on Friday, August 8 to discuss revision of the plans to keep the property line straight and obtain a status report of all other items. Mr. Ruff also reported that upon information he received Boji has received approval for 4 stairways in the building. Shane interjected that discussions about a City stairwell in the ramp are ongoing. Jim Ruff advised that he will supply a new site plan to the Board, hopefully at the next meeting, with the new property line. He will get the new plan to BWL as well. He is still working on the details of the stairwell in the ramp, as well as looking for ways of getting the grading changed on the east ramp. Mr. Smiertka then addressed the previous topic of closing priority and explained that the real estate transaction needed to be closed after the bond closing in conformance with the agreement. He recommended setting a closing on the real estate at 12:00 noon on the 18`h, since the bond closing is set for 10:00 a.m. that date. It is proposed that both closing be held at Mr. Danhof s office, since the bond closing is already scheduled there. Mr. Smiertka asked Mary Jo to advise Jack Roberts, Chief Deputy City Attorney, of these closing times and date. 2. Other Business: None 3. Public Comment: None Approved by LBA at the Special LBA Meeting of 8113103 Motion was made by Dave Berridge to adjourn the meeting at 3:31 p.m.; motion supported by Jim Smiertka; motion carried 3-0. Recorded and ubmi d by: 1161��a Mary J Po 1, Interim Recording Secretary Legal sistant, City Attorney's Office Approved by the LBA at a Special Meeting of the LBA on 8113103 _ r- J`t .. _ D MINUTES OF A SPECIAL MEETING OF 03 SEP _� �� � 8: 42 THE LANSING BUILDING AUTHORITY HELD ON JULY 30,2003, 8:00 a.m. Lr.r iPU i13'i' GLcir Members Present: David Berridge, Chairperson Douglas Rubley, Treasurer James D. Smiertka, Secretary Others Present: Jim Ruff, Director of Planning &Neighborhood Dev. Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5`h Floor Conference Room, and was called to order by Dave Berridge, at 8:15 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: 07/25/03 LBA SPECIAL MEETING Doug Rubley moved to approve the minutes of the July 25, 2003 Special Meeting with one amendment on page 4 regarding the main motion which should read: "The main motion was carried 3-0."; supported by Jim Smiertka; motion carried 3-0. 2. PARKING RAMP PROJECT: TOWNSEND STREET AND ALLEGAN STREET a. Update from Finance Director Regarding Sale of Bonds Mr. Rubley advised that the Preliminary Official Statement is being printed and that 5/3 Bank is named as the Bank Register for a$250 fee per year. The estimated pricing date is next Tuesday, August 5, 2003, and therefore, the sales resolution can be approved by the LBA at the Special Meeting on August 5, 2003, at 3:00 p.m. Discussion ensued. b. Update on the Boji Project Jim Ruff indicated that he met with Ron Boji and they discussed the contact persons involved with this project. The person who will be assisting with the contracts will be Jan Thompson from Clark Construction who is the project manager, as well as with Glen Masty. Also, Hani Mio is the contact person from the Boji Group regarding this development project. Discussion ensued on the plan review fees and other fees that will be due related to the building construction. Also, they will be applying to the State for the lane closings in the near future. Discussion ensued regarding details of the financing Approved by the LBA at a Special Meeting of the LBA on 8113103 and draws related to the MDEC. 3. Other Business: None 4. Public Comment: None Motion was made by Doug Rubley to adjourn the meeting at 8:41 a.m.; motion supported by Jim Smiertka; motion carried 3-0. Recorded and Submitted by: K thleen M. Lesp anc , ecording Secretary Office Administrator, City Attorney's Office yPN S 1 DLja.rtment of Law MEMORANDUM �r $ C GP TO: DEBBIE MINER, CITY CLERK FROM: KATHLEEN M. LESPERANCE, Office Administrator DATE: August 12,2003 RE: FILING REQUEST: Minutes of a Special Meeting of the Lansing Building Authority held on July 25, 2003 Please file the attached original minutes of the July 25, 2003 Special LBA Meeting, as amended, which were approved on July 30, 2003, at a Special Meeting of the Lansing Building Authority. Thank you for your assistance. /kml Attachment F:\SHARED\CityDept\City Clerk\2003\LBA minutes 070203 filing.wpd Amended and Approved by LBA at a Special Meeting on July 30, 2003 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON JULY 25, 2003, 7:30 a.m. Members Present: David Berridge, Chairperson Douglas Rubley, Treasurer James D. Smiertka, Secretary Others Present: Howard Jones, Citizen Ron Boji, Boji Development Group of Lansing, L.L.C. Mike Peplowski, Boji Development Group of Lansing, L.L.C. Jim Ruff, Director of Planning &Neighborhood Dev. Shane Silsby, Public Service Dept., Transportation Div. John M. Roberts, Jr., Chief Deputy City Attorney Kathleen Lesperance, Recording Secretary, City Attorney's Office The meeting was held in the City Attorney's Office, 5" Floor Conference Room, and was called to order by Dave Berridge, at 7:43 a.m.; roll call was taken and a quorum was present. Jim Smiertka moved to move the "Public Comment" agenda item for this meeting from item 4. to item I.; supported by Doug Rubley; motion carried 3-0. PUBLIC COMMENT: Howard Jones inquired as to whether there should be a public hearing on the matter since this parking ramp will be owned by the City. Mr. Smiertka advised that the Boji project started as a separate project which did not include the portion of a parking ramp owned by the City and the new transaction was filed with the City Clerk and a separate hearing was held. Mr. Jones asked about the reality of this project going forward. Mr. Smiertka advised Mr. Jones of several items which have been added on this project, such as the performance bonds. Mr. Jack Roberts advised Mr. Jones in response to his concerns that this project could be stalled in the middle of the project and the specific issues which have been resolved.. Mr. Jones asked about the indemnification portion of the agreement and the insurance language. Mr. Smiertka advised that there is a performance bond and a labor bond for this development project. Mr. Boji is to pay the cost of any legal defense fees in case this project faces a legal challenge. Mr. Roberts advised Mr. Jones that this is the only indemnification issue he is aware of on the project. Mr. Jones asked if the CSO project will impede the development of this project. Mr. Berridge indicated that there will be construction coordination between the Boji project and the construction of the sewers. Discussion ensued on this issue. Mr. Jones asked what would happen if the CSO project holds up the Boji project. Mr. Smiertka advised that there are deadlines directly addressed in the Agreement to address this potential problem. Amended and Approved by LBA at a Special Meeting on July 30, 2003 1. APPROVAL OF MINUTES: 07/02/03 LBA SPECIAL MEETING Mr. Jones asked for a copy of the minutes and Mr. Roberts advised that he may have a copy of the minutes after they have been approved. Dave Berridge entertained a motion to amend the minutes of the July 2, 2003 LBA Special Meeting Minutes. Jim Smiertka moved that under "Other Business" of the July 2, 2003 LBA Special Meeting minutes regarding the setting of weekly meetings, that the motion by David Berridge be amended to set Special LBA meetings during July,August and September 2003, to be held each Wednesday, at 8:00 a.m. in the 5`h Floor Conference Room; supported by Doug Rubley; motion carried 3-0. 2. PARKING RAMP PROJECT: TOWNSEND STREET AND ALLEGAN STREET a. Approval of Boji Development Agreement Mr. Roberts provided a summary regarding Development Agreement issues and the form of the Agreement. Mr. Roberts indicated that at time of the last discussion regarding the Agreement, the Agreement was in final conformity except for an item about how to handle the Boji's request to negotiate an option to build on top of the parking ramp if there was a desire by the market, finances, etc. Mr. Rubley indicated that this option would have to be agreed to by City Council and, therefore, this item would have to be addressed in an option agreement. Mr. Roberts advised that he feels all of the remaining terms of the Agreement have been agreed to except one item brought up last night at 5:30 p.m., July 23, 2003, concerning the City's proposal regarding maintenance of the parking ramp. Mr. Rubley indicated that there is also an issue regarding air rights. Mr. Roberts advised that the time frame for the option is as soon as the City and the Developer negotiate that language to a written proposal, and the Agreement is fine other than it would have to be taken to Council for approval. As far as a time line, there is no date certain. Mr. Rubley asked if there could be a date certain detailed to negotiate this particular matter with Council. Mr. Rubley requested further information regarding the date certain on the air rights issue. Mr. Berridge advised that there is a five year time line in the agreement about this matter. Mr. Rubley indicated he does not feel this has been specifically addressed and would like a sunset clause in the agreement regarding this matter. Mr. Roberts advised we are close on a number of these issues. Mr. Smiertka advised that what is reasonable is a six month period to negotiate this issue. Mr. Roberts advised that the Developers would want a shorter period of time. Again, Mr. Rubley indicated that he wants this detailed in the Agreement. Mr. Smiertka indicated that the Developer may want the air rights now but Mr. Smiertka wants the parking deck up first so the public can see the project and therefore the air rights can be addressed after the Amended and Approved by LBA at a Special Meeting on July 30, 2003 parking deck is constructed. Discussion ensued. Mr. Smiertka suggested that a deadline be set for April 1, 2006 to negotiate the air rights issue, then, at that time it would have to go to Council for approval. Mr. Berridge asked if it is the intent to negotiate this issue. Jim Smiertka indicated this would restrict the agreement and the project. Mr. Roberts feels the parties are substantially in agreement about the plans and specifications and the options. Ron Boji indicated he would like to make the date April 1, 2006 as the date certain in the agreement as Mr. Smiertka recommended. Jim Smiertka moved to approve the Boji Development Agreement with one amendment to Section 5.3 to have an expiration date of April 1, 2006 for completion of negotiations of the air rights option and that Council approval also be made not later than April 1,2006; supported by Doug Rubley; motion carried 3-0. Mr. Smiertka asked if there were any other issues. Mr. Roberts indicated that the maintenance costs for the parking ramp needs to be addressed to memorialize the scheduled maintenance costs and if they are exceeded, that the developer will pay the costs which go over the additional expenses if in subsequent years the scheduled maintenance costs is less than the scheduled maintenance costs. Further, that the City would reimburse the developer for the amount up to the amount that they have already paid. This is as a result the City agrees that the Developer can exercise their option to a pre-topped ramp vs. post-top the columns and that the calculation of maintenance costs will be at 5 year intervals. Doug Rubley advised that regarding "Exhibit M"that the City's original intent is for a pre-topped ramp and that the maintenance is higher for a pre-topped ramp. The Developer has agreed that if the maintenance costs are higher they would reimburse the City but under the life cycle the Developers will pay the City for the extra costs of a pre-topped vs. a post-topped ramp. Shane Silsby indicated that the financial books are charged every five years so that if you are under the cost that the developer can pay back the City by the City holding monies in escrow to project the extra costs in the next five years. Jim Ruff indicated that he received a communication from Ron Boji on July 24, 2003, and it is in regard to Exhibit M. Mr. Ruff advised that the the maintenance cost initially projected were what the City submits as standard maintenance costs. However, what is being proposed is different from the standard maintenance costs and Mr. Boji is proposing that some of those items not be included in his area of payment responsibility. Mr. Ruff indicated that construction of the ramp for the pre-topped option would cost more over the life of the ramp to maintain than the post-topped option. Mr. Ruff advised that Mr. Boji is in agreement to pay whatever monies are in excess. Mr. Smiertka asked if this issue is settled in the agreement and Mr. Roberts indicated that it is not yet settled. Discussion continued about this issue. Mr. Smiertka moved that the Development Agreement be approved and that either the Chairperson or the Treasurer of LBA may execute the Agreement on behalf of the LBA once this issue of the major maintenance is resolved between the City and the Developer. Mr. Rubley supported the motion but asked for further discussion on this issue as it Amended and Approved by LBA at a Special Meeting on July 30, 2003 relates to the terminology "major maintenance" but asked fit he term "Restoration" is different than "Maintenance". Mr. Silsby indicated that"restoration" is included with the maintenance of the ramp. Mr. Rubley asked if the term restoration can be used in the agreement. Mr. Roberts advised that the term is "specific remedial maintenance" to keep a ramp in good condition and to keep it from deteriorating at any significant rate. Mr. Rubley asked about the detailed page prepared by "NTH" which addresses the specific maintenance costs. Mr. Silsby indicated that"restoration" is an appropriate term to be used in a maintenance agreement. Mr. Rubley advised that he is comfortable about the major maintenance issues and is willing to reduce the 25 year total of$6,212,000.00 that would exclude items 1-23 because of our position regarding the option of a pre- topped vs. post-topped ramp issue. Further, since the developer agreed to reduce this amount because of the maintenance costs unless any damage to items 1-27 is a result of items 1-9. Mr. Rubley advised that he is in support of the motion to approve the Development Agreement. Mr. Silsby advised that the detailed sheet of maintenance costs was to make it easier to see what was agreed to on the maintenance issue for an"at a glance"reference sheet. Mr. Rubley commended the efforts involved in clarifying this issue prior to it becoming a potential problem in the future. Mr. Smiertka asked to call the question; motion supported by Doug Rubley; passed 3-0. The main motion was carried 3-0. Mr. Smiertka referred the discussion to Item 2.b of the LBA Agenda. b. Authorization for Finance Director to Price and Sell Bonds Mr. Smiertka advised that the LBA already has an approved resolution on this bond issue which was approved at a Special Meeting of the LBA on June 26, 2003. At that time, the Finance Director was not authorized to sign the Preliminary Official Statement until the Boji Development Agreement was approved. Mr. Smiertka asked to move to Item 2. c. of this LBA meeting. [break to discuss and act on Item 2.c. of Agenda] Jim Smiertka made a motion that the Finance Director be authorized to price and sell bonds regarding parking ramp; Discussion ensued and Doug Rubley advised that after the pricing of the bonds that he would like the Sales Agreement be approved by the LBA. Mr. Rubley indicated he realized he does not need to do this, but would like the LBA to review it. Doug Rubley supported the motion; motion carried 3-0. Amended and Approved by LBA at a Special Meeting on July 30, 2003 c. Approval of Preliminary Official Statement Jim Smiertka moved to authorize the Finance Director to release the Preliminary Official Statement on this bond issue; supported by Doug Rubley; motion carried 3- 0. 3. Other Business: None Motion was made by Dave Berridge to adjourn the meeting at 8:35 a.m.; motion supported by Jim Smiertka; motion carried 3-0. Recorded and Submitted by: athleen M. Lesper de, Recording Secretary Office Administrator, City Attorney's Office r 401" Dt.�artment of Law MEMORANDUM TO: DEBBIE MINER, CITY CLERK FROM: KATHLEEN M. LESPERANCE, Office Administrate �G DATE: July 24,2003 RE' FILING REQUEST: Minutes of a Special Meeting of the Lansing Building Authority held on July 2, 2003 Please file the attached original minutes of the July 2, 2003 Special LBA Meeting, as amended, which were approved on July 25, 2003, at a Special Meeting of the Lansing Building Authority. Thank you for your assistance. /kml Attachment FASHARED\CityDept\City Clerk\2003\LBA minutes 062603 51ing.wpd Amended and Approved by LBA at a Special Meeting Held on 07125103 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON JULY 2, 2003, 8:00 a.m. Members Present: David Berridge, Chairperson Douglas Rubley, Treasurer James D. Smiertka, Secretary Others Present: Shane Silsby, Planning Office Mary Jo Powell, Recording Secretary, City Attorney's Office John M. Roberts, Jr., Chief Deputy City Attorney The meeting was called to order by Dave Berridge, at 8:23 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: 06/26/03 LBA SPECIAL MEETING Doug Rubley moved to approve the 06/26/03 LBA Special Meeting Minutes with one amendment in Agenda Item 1, that being the date of the previous meeting. Minutes will show that the minutes were of the 5/2/03 meeting. Supported by David Berridge; motion approved 3-0. 2. Parking Ramp Project at Townsend St. and Allegan St. - Approval of Preliminary Offering Statement Doug Rubley moved that Item 2 from the Agenda be placed on pending. Support by David Berridge. Discussion: Doug Rubley started by presenting a list of current issues he has become aware of in regards to areas for further consideration before finalizing the development plans and closing the sale. These issues have come to him from the Planning Department as well as from Council. The Planning Office has given Mr. Rubley a Preliminary Update outlining areas of importance for consideration prior to closing. The main issues Mr. Rubley presented are: 1) Final settlement of plans and specs; 2) differences in interpretation of building codes and who has authority to approve compliance with codes; 3) Council has an issue with cosmetics of the ramp, specifically the exterior facade. On the most recent photo given to them, the facade did not look like other 2 ramps being built in the City; and 4) the developer may have proposed changes to the development. Jim Smiertka recapped Mr. Rubley's items as: 1) Unresolved issue as to settlement of plans and specs; 2) unresolved issue with facade; 3) changes by developer to development agreement; and 4) who has responsibility to determine compliance with code. Dave Berridge brought up a 5' issue, that being air rights. Amended and Approved by LBA at a Special Meeting Held on 07125103 Discussion followed on these items. During discussion, Jim Smiertka added a 6`h item to the list of issues, this being: City will need an easement from Accident Fund regarding the glass staircase, east side of building. The easement is for the purpose of restricting building next to staircase which would restrict the view thus changing the plan for open design of staircase. More discussion ensued on this issue. Shane Silsby added a 7`" item: Additional stairway be required in office building to meet code for egress. More discussion in which Dave Berridge presented his concern with using a shared stairway for the office building and parking structure. His concern is that an open public stair tower in the parking structure, if heated, would invite vagrancy. Shane then pointed out that two points of egress are needed in the office building and the parking structure. If shared staircase, when closed down for repair to parking structure, that would in effect make the office building uninhabitable. Further discussion ensued including discussion on proposed closing date. Jim Smiertka asked that it be noted that the LBA has not yet agreed on a particular date for closing. Doug Rubley asked that it be noted that he, as the Finance Director, has asked the bond underwriter to determine how many days after release of bonds should we anticipate for closing. Mr. Rubley further stated that, the Bond Underwriter told the developer, at a meeting held in the Finance Director's Office, not to set a closing date based on any proposed bond sale date. Chair David Berridge brought the Motion to place Item 2 on pending back in front of the members and asked for a vote; motion approved 3-0. Doug Rubley stated that he asked Shane Silsby to this meeting to speak to the matters of the unresolved development plans and the facade issue. Mr.Rubley also presented 2 areas of concern for him: 1) coordination with Mayor's office regarding communication between the finance department and planning, and 2) need to develop a contingency plan for sale of bonds, in event that developer never starts project. Jack Roberts addressed the issue of contingency plan for sale of bonds by stating that that had been dealt with in the development agreement. As to the issue of coordination with the Mayor's office, there was further discussion by members, but no final resolution. David Berridge brought up the issue of air rights once again, and stated that he felt it was in the City's best interest to have air rights over the ramp, in case expansion is desired in the future. Doug Rubley commented that the original Development Agreement presented to Council did not address air rights, so we may not be able to change it at this time. Jack Roberts interjected that his discussions with the developer have included room for expansion of additional floors to ramp. More discussion on this issue ensued. Jack Roberts asked if the LBA ever approved the development agreement. Doug Rubley and Jim Smiertka both answered "no". Doug Rubley asked that another item be added to the above list, that being: Development agreement changes to include LBA to approve final agreement. Mr. Rubley also stated that he Amended and Approved by LBA at a Special Meeting Held on 07125103 thought the sale of bonds should be contingent on LBA approval. Mr. Rubley then asked that the draft memo from Shane Silsby, dated July 2, 2003, regarding Unresolved Issues Associated with Proposed Project, be attached to the minutes of this meeting. David Berridge added that he desired to have the Townsend Street Ramp Review& Rebuttal Comments report, prepared by Transportation, attached to these minutes as well. 3. Other Business: Doug Rubley then asked to have the floor to commend the Transportation Department and Building Safety for the work they've done in coming to a conclusion on this issue on an expedient manner. Their work on this is unlike any other project he has seen before. Jim Smiertka asked about subsequent meetings of the LBA to deal with this subject. Brief discussion took place, followed by Motion by David Berridge to set weekly Special LBA meetings during July, August and September 2003, to be held on each Wednesday, at 5:00 a.m., in the 5' Floor Conference Room. Support by Doug Rubley; approved 3-0 4. Public Comment: None Motion was made by David Berridge to adjourn meeting at 9:03 a.m.; motion supported by Doug Rubley; motion carried 3-0. Submitted by: K thleen Lesperanc , Recording Secretary at Special Meeting of 7/25/03 where amendment to these minutes was made. Dated: 07/25/03 PN S 1 Nc r partment of Law MEMORANDUM JCHIGQ'� TO: DEBBIE MINER, CITY CLERK - . . KATHLEEN M. LESPERANCE, Office Administr FROM: DATE: FILING REQUEST: Minutes of a Special Meeting of th RE: Lansing Building Authority held on June 26, 2003 July 14,2003 Please file the attached original minutes of the June 26, 2003 Special LBA Meeting, as amended, which were approved on July 2, 2003, at a Special Meeting of the Lansing Building Authority. Thank you for your assistance. flans Attachment FASHARED\CityDept\City CerL\2003\LSA minutes 050203 sling.wpd Amended and Approved by LBA at a Special Meeting on 07/02/03 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON JUNE 26, 2003, 8:00 a.m. Members Present: David Berridge, Chairperson Douglas Rubley, Treasurer James D. Smiertka, Secretary Others Present: William Danhof,Bond Counsel,Miller, Canfield, et al. Kathleen Lesperance, Recording Secretary, City Attorney's Office John M. Roberts, Jr., Chief Deputy City Attorney The meeting was called to order by Dave Berridge, at 8:12 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: 05/02/03 LBA SPECIAL MEETING Doug Rubley moved to approve the 05/02/03 LBA Special Meeting Minutes with one amendment in Agenda Item 2.A.Approval of the Resolution Approving Contract with City regarding the Boji Development Project, specifically, that the word "referendum" be deleted and replaced with the word "hearing"; supported by Jim Smiertka; motion approved 3-0. 2. $19,000,000 LBA Bonds for Parking Ramp Project, Series 2003 a. Approval of Resolution Authorizing Issuance and Sale of Bonds The LBA members reviewed the Resolution Authorizing Issuance and Sale of Bonds with Bill Danhof,Bond Counsel from Miller, Canfield,Paddock& Stone. Mr. Rubley asked Mr. Danhof about the language on Page 2, 4"'paragraph of the Resolution, in the sentence which reads "any Officer is authorized to sell the bonds". Mr. Danhof explained it is more detailed in subsection "c". Mr. Rubley wants a Sales Resolution and an LBA meeting needs to be set to approve same. Mr. Danhof advised that the current resolution gives the option of having a sales resolution and, therefore, it addresses Mr. Rubley's concerns and the resolution can be left in its current form. Mr. Rubley requested further explanation regarding page 15 and 16, which addresses the parameters regarding the sale. Mr. Danhof provided the members with clarification as to the details of the resolution. Mr. Rubley asked if the Development Agreement would need to be changed, for instance if the financials change regarding the amount of the bonds. Mr. Danhof said that in this regard what is taken into account is just specifying language regarding the discount on the bonds. Mr. Danhof explained the premium on bonds and the interest charged on the bonds at sale. Therefore, the money taken for the higher interest rate reduces the amount of the principal owed on the bonds. Mr. Danhof explained how the language in the Development Agreement can changed to read, "Net proceeds from the $19,000,000 Cost of Issuance of the Amended and Approved by LBA at a Special Meeting on 07/02/03 Bonds are not to exceed$400,000. Any premiums received by the City on the sale of the proceeds shall be used by the City to reduce the principal amount of the bonds." Mr. Berridge and Mr. Rubley advised that the Developer shall not receive more than $18,600,000 from the net proceeds, plus any of the cost issuance which is not spent. Further discussion ensued regarding the Resolution and the Development Agreement. The intent of this Development Agreement is to purchase a premium parking ramp from the Developer for$18,600,000. Mr. Rubley advised that the Developer shall not get the payment from the City until the City receives the payment from the MEDC. Mr. Berridge explained his concerns about this project which effects the decision of the Lansing Building Authority to approve the Resolution before the Members today. There are significant issues which have not been agreed to by the City and the Developer. Mr. Danhof advised that this Resolution has nothing to do with the Development Agreement as it strictly authorizes the issuance and sale of bonds. Mr. Berridge feels that Doug Rubley needs more authority to negotiate with the Developer. Motion was made by Jim Smiertka that the sale of the bonds shall be pursuant to a Sales Resolution to be approved by the LBA; [Mr. Smiertka withdrew this motion.] Doug Rubley moved that the LBA shall not authorize the Treasurer to release the Preliminary Official Statement for the Sale of the Bonds until such time that he has received documentation from the City indicating that they have substantially approved the plans and specifications in accordance with the Development Agreement on this project. Jim Smiertka supported the motion. Discussion ensued on the motion and Doug Rubley advised that it puts Dave Berridge and Jim Smiertka in authority to approve the actions taken by Doug Rubley on this project; motion approved by 3-0 vote. Jim Smiertka moved to approve the Resolution Approving the Issuance and Sale of Bonds with the amendment that paragraph 24 shall be revised as follows: All of the language in Paragraph 24, page 15 and 16, shall be deleted and replaced with the following language: Amendment: 24. Sale of Bonds. Sale of the Bonds shall be pursuant to a Sales Resolution to be adopted by the Authority. Doug Rubley supported the above motion; approved by 3-0 vote. Jim Smiertka asked if the Official Preliminary Statement and the notice finalize the sale, and whether it would pose a problem to proceed with those two items. Mr. Danhof advised that the mailing of the Preliminary Official Statement is crucial and therefore another Lansing Building Authority meeting would need to be held and the LBA would have to authorize the mailing of the Preliminary Official Statement. Mr. Roberts advised that the LBA must approve the plans and specifications on this project. Mr. Danhof advised that the LBA can do this at the next meeting. Amended and Approved by LBA at a Special Meeting on 07/02/03 3. Other Business: None. 4. Public Comment: None. Motion was made by Dave Berridge to adjourn the meeting at 9:40 a.m.; motion supported by Jim Smiertka; motion carried 3-0. Recorded and Submitted by: o7 jt�h'I�ekenepe n e, Recording Sec et Office Administrator, City Attorney's Office 0(71, t L. -.partment of Law MEMORANDUM TO: DEBBIE MINER, CITY CLERK FROM: KATHLEEN M.LESPERANCE, Office Administr o DATE: FILING REQUEST: Minutes of a Special Meeting of the RE: Lansing Building Authority held on May 2, 2003 June 27,2003 Please file the attached original minutes of the May 2, 2003 Special LBA Meeting, as amended, which were approved on June 26, 2003, at a Special Meeting of the Lansing Building Authority. Thank you for your assistance. /kml Attachment FASHARED\CityDept\City Clerk\2003\LBA minutes 050203 filing.wpd AMENDED AND APPROVED PER LBA AT SPECIAL MEETING 6/26/03 MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON MAY 2, 2003, 8:30 a.m. Members Present: David Berridge, Chairperson Douglas Rubley, Treasurer James D. Smiertka, Secretary Others Present: William Danhof,Bond Counsel, Miller, Canfield, et al. Kathleen Lesperance, Recording Secretary, City Attorney's Office X.�7CX7C iG iti The meeting was called to order by Dave Berridge, at 8:40 a.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: 01/28/03 LBA SPECIAL MEETING James Smiertka moved to approve the 01/28/03 LBA Special Meeting Minutes; supported by David Berridge; motion approved 3-0. Jim Smiertka advised the LBA Members that he will be assigning the drafting of the Letter Agreement regarding the Oldsmobile Park Marquee Signs to an Assistant Attorney in the Law Department. 2. BOJI DEVELOPMENT PROJECT A. Approval of the Resolution Approving Contract With City This matter is in regard to the contract approved by City Council for the 19 Million Dollar parking ramp to be located on the property described in Exhibit A commonly referred to as the Boji Project. Discussion ensued regarding the details of the contract and bond. Mr. Danhof provided detailed information regarding the bond requirements and Federal law. Mr. Danhof advised that Cooley Law School may have a 5% interest and therefore, a hearing would need to be held. However, Cooley has not committed to this project. Mr. Danhof advised that the City is obligated to make payments to the LBA. The publication for the Notice of Intent is set for Monday, May 5, 2003. Doug Rubley moved to adopt the resolution approving the LBA Contract with the City; supported by James Smiertka; approved 3-0. Motion was made by James Smiertka to reconsider the previous motion to include an amendment to the Resolution Approving the Contract with City to authorize the LBA Treasurer to select and negotiate with the Bond Underwriters; Dave Berridge supported AMENDED AND APPROVED PER LBA AT SPECIAL MEETING 6/26/03 the motion to approve the Resolution as amended; unanimously carried 3-0. 3. Other Business: Mr. Rubley advised that he wants the LBA to meet regularly with City Departments regarding the status of work completed on the Boji project. 4. Public Comment: None. Motion was made by Dave Berridge to adjourn the meeting at 9:25 a.m.; motion supported by Jim Smiertka; motion carried 3-0. Minutes submitted by: 01 Tfflcthl.een M. Lesperance, cording Secretary and Administrator, ty Attorney's Office MINUTES OF A SPECIAL MEETING OF THE LANSING BUILDING AUTHORITY HELD ON JANUARY 28 2003, 4.00 p.m. Members Present: David Berridge, Chairperson - Robert Swanson, Treasurer James D. Smiertka, Secretary Others Present: Kathleen Lesperance, Recording Secretary, City Attorney's Office Randy Endsley,Finance Department, City of Lansing Peter Sullivan,Lansing Entertainment and Public Fac. Auth. Patrick Talty,Lansing Entertainment and Public Fac. Authority YC��7FX YC 3C The meeting was called to order by Dave Berridge, at 4:18 p.m.; roll call was taken and a quorum was present. 1. APPROVAL OF MINUTES: 11/21/02 LBA REGULAR MEETING Bob Swanson moved to approve the 11/21/02 LBA Regular Meeting Minutes; supported by Jim Smiertka; motion approved 3-0. 2. QLDSMQBILE PARK MARQUEES Discussion ensued regarding the background of the Oldsmobile Park boundaries and purchase of the original marquee sign. The LBA purchased the marquee signs and then were reimbursed by marquee income. LEPFA is acting as the Operating Agent and there have been problems with the marquee signs relating to the electrical components, specifically, current maintenance costs are approximately$15,000 per year. Peter Sullivan was present along with Patrick Talty who provided the members with a demonstration of the proposed new replacement electrical components and background information. Mr. Sullivan indicated they searched nationally for a qualified vendor to replace the lighting components. Three bids were obtained and Mr. Sullivan is recommending the lowest bidder, White Way Signs out of Chicago, Illinois,be approved at a cost of approximately$40,000,00, Mr. Smiertka suggested that LEPFA reimburse the City in twelve equal installments, with the first payment to be made in April 1, 2004. Mr. Sullivan was agreeable to this proposal and Mr. Smiertka indicated he will draft a Letter Agreement to this effect. Randy Endsley from the Finance Department indicated that he has prepared an LBA transfer for$40,000 to be transferred from the LBA Fund Balance Account No. 513 000000 390001 to the Baseball Marquees Account No. 513 453661 977000 043804. Jim Smiertka moved to approve the purchase of the replacement lighting equipment from White Way Sign Co. and that$40,000 be appropriated and transferred from the LBA Fund Balance Account No. 513 000000 390001 to the Baseball Marquees Account No. 513 453661 977000 043804, and further moved that a Letter Agreement be signed between the LBA and LEPFA detailing the repayment for the cost of the equipment in twelve equal annual payments with the first payment to be made on April 1,2004; supported by Bob Swanson; motion unanimously carried 3-0. 3. Other Business Dave Berridge thanked Bob Swanson for his 9 years of service as a member of the Lansing Building Authority as Mr. Swanson will be taking a new job with the State of Michigan in February 2003. 4. Public Comment: None. Motion was made by Dave Berridge to adjourn the meeting at 4:35 p.m.; motion supported by Jim Smiertka; motion carried 3-0. 3. Other Business Dave Berridge thanked Bob Swanson for his 9 years of service as a member of the Lansing Building Authority as Mr. Swanson will be taking a new job with the State of Michigan in February 2003. 4. Public Comment: None. Motion was made by Dave Berridge to adjourn the meeting at 4:35 p.m.; motion supported by Jim Smiertka; motion carried 3-0.