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HomeMy WebLinkAbout8.8.25 Lansing Brownfield Redevelopment Authority Board Meeting MinutesPage 1 of 4 Board of Directors Meeting Friday, August 8, 2025 – 8:30 A.M. Lansing EDC Office - 401 S. Washington Sq. Suite 101, Lansing, MI 48933 MINUTES Members Present: Shelley Davis Boyd, Catherine Rathbun, Jonathan Smith, Bryan Britten, Dr. Cristina Benton, Dr. Alane Laws-Barker, Calvin Jones, Rawley Van Fossen Members Absent: Chaz Carrillo Staff Present: Kris Klein, Brian Swett, Alex Watkins, Aurelius Christian, Kimberly Lavon Guests: None Call to Order/Rollcall Chair Davis Boyd called the meeting to order at 8:30 A.M. Approval of LBRA Board Meeting Minutes – Friday, July 11, 2025 (ACTION) MOTION: Member Britten moved to approve the LBRA meeting minutes from the Friday, July 11, 2025, Board of Directors meeting, as presented. Motion seconded by Member Smith. YEAS: EIGHT (8); Unanimous, motion carried. Approve Housing Brownfield TIF Reimbursement Agreement Template (ACTION) Klein presented the template Reimbursement Agreement for Housing Brownfield TIF Plans and explained that recently approved Housing Brownfield TIF Plans require a Reimbursement Agreement with certain language determined by statute and Michigan State Housing Development Authority (MSHDA) Guidance. Member Smith requested clarification on whether the changes were requirements of MSHDA and if MSHDA had reviewed the documents. Klein indicated that LEDC’s attorney prepared the agreement and that the statute, MSHDA guidance, and other agreement examples were reviewed but that MSHDA had not reviewed the proposed language. Member Rathbun asked for clarification on the MSHDA requirements including whether the deed restriction can be used beyond the incentive and if recent Page 2 of 4 projects will need to use the new agreement. Klein noted that the intent is for the income requirements and deed restrictions within the agreement to be effective for the term of the incentive and that the agreement will be used on the recently approved Housing Brownfield TIF projects and those going forward. Member Laws-Barker and Member Benton inquired about the restriction of short-term rentals and how this may impact projects. Member Van Fossen referred to guidance on other MSHDA programs that their intent is to promote the development of long-term housing options. Member Britten asked that the Board be updated periodically on any revisions to the document. MOTION: Member Von Fossen moved to approve the Housing Brownfield TIF Reimbursement Agreement Template with the exception that the deed restriction language in Section 9 may be removed from the document if not required by MSHDA. Member Jones supported the motion. YEAS: SIX (6) NAYS: NONE (0) ABSTENTIONS: TWO (2), Rathbun & Laws-Barker 6 YEAS, 0 NAYS, 2 ABSTENSTIONS, Motion Carried. Accelerated Reimbursement Loan Request for Brownfield Plan #86 (ACTION) 820 W. Miller Rd. Redevelopment Project Klein presented the Accelerated Reimbursement Loan Request for the 820 W. Miller Rd. Redevelopment Project. Member Smith inquired as to why we offer this support and the impact on the project. Klein explained that it helps provide reimbursement of Brownfield eligible costs more quickly and supports the financing of development projects. Member Van Fossen suggested staff present a needs assessment and a financial review of the project for future requests. MOTION: Member Van Fossen moved to approve the Accelerated Reimbursement Loan Request for Brownfield Plan #86, as presented. Member Rathbun supported the motion. YEAS: SEVEN (7) NAYS: NONE (0) ABSTENTIONS: NONE (0) 7 YEAS, 0 NAYS, 0 ABSTENTIONS; Motion Carried. Member Laws-Barker was absent for vote Accelerated Reimbursement Loan Request for Brownfield Plan #88 (ACTION) 603 – 607 E. Michigan Ave. Rehabilitation Project Klein presented the Accelerated Reimbursement Loan Request for the 603-607 E. Michigan Ave. Rehabilitation Project. Member Britten asked about how loan rates are determined for these requests. Klein explained how the interest rates were determined on these current requests based on available capture and cashflow needs. Member Smith asked if the LBRA is taking more risk with this request. Klein noted that the length of the Brownfield Plan was able to be shortened by utilizing the LBRF and the loan Page 3 of 4 agreement has terms to help mitigate risk such as projects receiving all approvals, demonstrating sufficient financing, and having future tax increment revenue as a repayment source. MOTION: Member Britten moved to approve the Accelerated Reimbursement Loan Request for Brownfield Plan #88, as presented. Member Jones supported the motion. YEAS: SIX (6) NAYS: NONE (0) ABSTENTIONS: ONE (1), Rathbun 6 YEAS, 0 NAYS, 1 ABSTENTIONS; Motion Carried. Member Laws-Barker was absent for vote Approval of Interlocal Agreement with Lansing TIFA (ACTION) Klein presented the Interlocal Agreement between the LBRA and TIFA to allow for capture under Brownfield Plan #88, 603-607 E. Michigan Rehabilitation Project. MOTION: Member Van Fossen moved to approve the Interlocal Agreement with Lansing TIFA, as presented. Member Smith supported the motion. YEAS: SEVEN (7) NAYS: NONE (0) ABSTENTIONS: ONE (1), Rathbun 7 YEAS, 0 NAYS, 1 ABSTENTIONS; Motion Carried. Summary of Brownfield Plan Policy Version 4 Klein presented a summary of the updated Brownfield Plan Summary, Version 4, that was approved by the LBRA Board in July. Member Smith suggested that stakeholders be notified of the updates and inform them that the new policy offers greater flexibility of terms. Member Rathbun offered support of Member Smith’s suggestions and requested a copy of the summary document be sent to Board members. Member Smith added further comments on getting our message out to the broader community of developers to promote Lansing competitiveness. Member Rathbun recommended adding reasons for the changes and benefits to the summary document. Klein indicated that staff has and will continue to communicate the positive benefits of the updated policy to developers and other stakeholders. Open Forum for LBRA Board Members None Other Business None Page 4 of 4 Public Comment None. Adjournment Chair Shelley Davis Boyd adjourned the Lansing Brownfield Redevelopment Authority meeting at 9:37 A.M. ________________________________________________________ Kris Klein, President & CEO Lansing Economic Development Corporation (LEDC)