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HomeMy WebLinkAbout1993 LEDC minutes03-18-94A09:3j RCVD ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING BOARD OF DIRECTOR'S MEETING 9TH FLOOR CONFERENCE ROOM, CITY HALL WEDNESDAY, JANUARY 6, 1993 4:00 P.M. MEMBERS PRESENT: Lucile Belen; Kathryn Haar; John Petroff; William Porter, Jr.; George Mills MEMBERS ABSENT: James Crawford; Gerald Lett; Joseph Pandy, Jr.; Joseph Reid STAFF PRESENT: Emerson Ohl; Patricia Cook GUESTS PRESENT: Tom Galyon; Cora Huguely; Ken Lawless Chairman Lucile Belen brought the meeting to order at 4:00 p.m. 1) 2) 3) APPROVAL OF THE DECEMBER 2, 1992 BOARD OF DIRECTOR'S MEETING MINUTES Motion - George Mills motioned the Board to approve the Board of Director's Meeting Minutes from December 2, 1992 as printed and place them on file. William Porter, Jr. seconded the motion. YEAS: Belen; Haar; Petroff; Porter; Mills Motion carried. FINANCIAL STATEMENTS - NOVEMBER, 1992 Motion - William Porter, Jr. motioned the Board to accept the November, 1992 Financial Statements as printed and place them on file. John Petroff seconded the motion. YEAS: Belen; Haar; Petroff; Porter; Mills EXECUTIVE DIRECTOR'S REPORT Emerson Ohl gave the Board an update on his work with MSU in marketing property to a Rockville, MD based genetic and DNA materials research company looking into the University Corporate Research Park. Emerson indicated that Lansing was still in the running after the first series of cuts. Emerson will update the Board as more information becomes available. No motions made. 4) OTHER BUSINESS None. 5) PUBLIC COMMENTS None. 6) ADJOURNMENT Chairman Belen declared the meeting adjourned at 4:10 p.m. Minutes by P. Cook e4, Emerson B. Ohl EDC Executive Director >>-1t_11 A 3 r R C V D ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF.LANSING BOARD OF DIRECTOR'S MEETING 9TH FLOOR CONFERENCE ROOM, CITY HALL WEDNESDAY, FEBRUARY 3, 1993 4:00 P.M. MEMBERS PRESENT: Lucile Belen; Kathryn Haar; John Petroff; William Porter, Jr.; James Crawford; George Mills MEMBERS ABSENT: Gerald Lett; Joseph Pandy, Jr.; Joseph Reid STAFF PRESENT: Emerson Ohl; Patricia Cook GUESTS PRESENT: Dale Brzezinski; Ken Peterie Chairman Lucile Belen brought the meeting to order at 4:00 p.m. 1) APPROVAL OF THE JANUARY 6, 1992 BOARD OF DIRECTOR'S MEETING MINUTES Motion - Jim Crawford motioned the Board to approve the Board of Director's Meeting Minutes from January 6, 1993 as printed and place them on file. William Porter, Jr. seconded the motion. YEAS: Belen; Haar; Porter; Crawford; Mills Motion carried. 2) FINANCIAL STATEMENTS - DECEMBER, 1992 Motion - William Porter, Jr. motioned the Board to accept the December, 1992 Financial Statements as printed and place them on file. Kathryn Haar seconded the motion. YEAS: Belen; Haar; Porter; Crawford; Mills John Petroff entered meeting at 4:01 p.m. 3) EXECUTIVE DIRECTOR'S REPORT Emerson Ohl gave the Board an update on his work with MSU in marketing property to a Rockville, MD based genetic and DNA materials research company looking into the University Corporate Research Park. He thanked the Mayor and members of both the EDC Board and City Council for meeting with the ATCC representatives earlier this week when they came to view what the region had to offer. Emerson indicated that Lansing was still being strongly considered for ATCC's future location. Emerson will continue to update the Board as more information becomes available. Emerson mentioned to the Board that he is working with a few prospects to locate on the Diamond Reo site and that the ceremony for the opening of Lansing Sanitary Supply, Inc. was a huge success. No motions made. 4) OTHER BUSINESS None. 5) PUBLIC COMMENTS None. 6) ADJOURNMENT Chairman Belen declared the meeting adjourned at 4:11 p.m. Minutes by P. Cook --I' Emerson B. Ohl EDC Executive Director 03-18-94A09:a7 R C V D ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING SPECIAL BOARD OF DIRECTOR'S MEETING 9TH FLOOR CONFERENCE ROOM, CITY HALL FRIDAY, MARCH 26, 1993 11:00 A.M. MEMBERS PRESENT: Lucile Belen; Kathryn Haar; John Petro -k, William Porter, Jr.; James Crawford; George Mills; Joseph Pandy, Jr. MEMBERS ABSENT: Gerald Lett; Joseph Reid STAFF PRESENT: Emerson Ohl; Patricia Cook GUESTS PRESENT: Cora Huguely, Ken Lawless; Harold Leeman; Kevin McKinney; Paul Smith Chairman Lucile Belen brought the meeting to order at 11:00 1) APPROVAL OF THE FEBRUARY 3, 1993 BOARD OF DIRECTOR'S MEETING MINUTES Motion - William Porter, Jr. motioned the Board to approve the Board of Director's Meeting Minutes from February 3, 1993 as printed and place them on file. George Mills seconded -the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. Joseph Pandy, Jr. entered the meeting at 11:02 a.m. 2) FINANCIAL STATEMENTS - JANUARY & FEBRUARY, 1993 Motion - William Porter, Jr. motioned the Board receive both the January and February, Financial Statements as printed and place them on file. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills; Pandy James Crawford entered meeting at 11:06 a.m. 3) 4) 4) RIVERFRONT MALL TRANSFER Motion - John Petroff motioned the Board to approve the resolution associated with the payoff of the Riverfront Mall Project. It was also motioned that the EDC Chair be authorized to sign on behalf of the EDC the documents required to complete this bond payoff. These documents include a Discharge of Mortgage; a Cross -Receipt; a Bill of Sale and a Quit - Claim Deed. Kathryn Haar seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Crawford; Mills; Pandy Motion carried. EXECUTIVE DIRECTOR'S REPORT Emerson Ohl gave the Board an update on his work with MSU in marketing property to a Rockville, MD based genetic and DNA materials research company looking into the University Corporate Research Park. It would be anticipated that this company would transfer approximately 50 personnel from their Rockville facility, while hiring an additional 200 local personnel for the Lansing facility. Emerson believed that a decision would be forthcoming within the next week or so and he will continue to update the Board as more information becomes available. Emerson mentioned to the Board that he is working with a few prospects, including an industrial welding company, to locate on the Diamond Reo site. He also has an investor interested in renovating and moving into the Commerce Center. An easement from the city for a small adjoining piece of property would be crucial to making this deal happen. No motions made. OTHER BUSINESS A) Update on Central Business District Development Director Paul Smith presented an overview and a document of some new "downtown" incentive packages that are getting off the ground. He told he Board that he believes the Downtown businesses are making a great effort to offer some uniformity regarding their regular business hours and working together to jointly market the downtown area to shoppers. He is enthusiatic that these joint strategies for promoting the downtown will prove very profitable for all local businesses. Paul was also very complimentary to the City Assessor's office for their assistance in a compilation of downtown data. B) Other Business Motion - Joseph Pandy, Jr. motioned the Board to support the 1993 LPGA Oldsmobile Classic Tournament with a $ 20,000.00 commitment to sponsor a Corporate Hospitality Tent, if available, an6 if not available, invest a minimum of $ 20, 000.00 towards EDC's sponsorship of patron, packages available for this tournament. An amendment to this motion was presented to include an additional not -to -exceed $ 5,000.00 for expenses associated with food and beverages supplied in the Hospitality Tent. George Mills seconded the motion. James Crawford left the meeting at 11:40 a.m. YEAS: Belen; Haar; Porter; Petroff; Mills; Pandy Motion carried. 5) PUBLIC COMMENTS None. 6) ADJOURNMENT Chairman Belen declared the meeting adjourned at 11:53 a.m. Minutes by P. Cook Emerson B. Ohl EDC Executive Director 03-13-94AD9:37 RCVD ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING BOARD OF DIRECTOR'S MEETING 9TH FLOOR CONFERENCE ROOM, CITY HALL WEDNESDAY, MAY 5, 1993 4:00 P.M. MEMBERS PRESENT: Lucile Belen; Kathryn Haar; John Petroff; William Porter, Jr.; James Crawford; George Mills MEMBERS ABSENT: Gerald Lett; Joseph Pandy, Jr.; Joseph Reid STAFF PRESENT: Emerson Ohl; Patricia Cook GUESTS PRESENT: Jim Matthew; Mark McDowell; Jack Patrick Chairman Lucile Belen brought the meeting to order at 4:00 p.m. 1) APPROVAL OF THE MARCH 26, 1993 SPECIAL BOARD OF DIRECTOR'S MEETING MINUTES Motion - William Porter, Jr. motioned the Board to approve the Special Board of Director's Meeting Minutes from March 26, 1993 as printed and place them on file. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. 2) FINANCIAL STATEMENTS - MARCH, 1993 Motion - William Porter, Jr. motioned the Board -Ivo receive the March, 1993 Financial State- ments as printed and place them on file. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Jim Crawford entered meeting at 4:02 p.m. 3) EDC FY 193/94 BUDGET Motion - William Porter, Jr. motioned the Board to approve the EDC FY 193/94 Budget as submitted to the Board. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Crawford; Mills 4) ELECTION OF OFFICERS Motion - William Porter, Jr. motioned the Board to elect the present Officers of EDC for another term. Jim Crawford seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Crawford; Mills 5) BOY'S & GIRL'S CLUB OF LANSING - EDC BOND Motion - George Mills motioned the Board to approve the resolution which amends certain bond/loan documents associated with the adjustment of the interest rate structure and prepayment of $100,000.00 in principal on the Boy's & Girl's Club of Lansing EDC Bond. It was also motioned that the EDC Chair & Secretary be authorized to sign on behalf of the EDC the documents required to complete these bond and loan amendments. These documents include a 1st Amendment to Loan Agreement; Addendum to Promissory Note; 1st Amendment to Leasehold Mortgage and Security Agreement; 1st Amendment to Assignment of Leasehold Mortgage and Security Agreement; ist Amendment to Indenture; Addendum to Bond. William Porter, Jr. seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Crawford; Mills Motion carried. Jim Crawford left the meeting at 4:25 p.m. 6) EDC FY '91/92 AUDIT Jim Matthew and Jack Patrick from KPMG Peat Marwick were on hand to explain the audit presented to the Board. The Board complimented them on their concise approach in preparation of this year's audit. Motion - John Petroff motioned the Board to accept the EDC FY 191/92 audit as presented and place it on file. William Porter, Jr. seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion - John Petroff motioned the Board to re-engage KPMG Peat Marwick for another year to complete the EDC FY '92/93 audit. KPMG has agreed to perform the FY 192/93 audit for the same fee as last year - $ 6, 000. 00. William Porter, Jr. seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Jim Crawford re-entered the meeting at 4:30 p.m. 7) EXECUTIVE DIRECTOR'S REPORT Emerson Ohl informed the Board that the packets for the 4 -some for the 1993 LPGA Golf outing would be in the office next week. It was suggested by Emerson that the 100+ any day tickets the EDC gets as a package would be distributed to local contractors on the Lansing Center project as well as distributed with the other regional economic development directors to be used for potential prospects. Governor and Mrs. Engler will be hosting a small pre -golf kick-off at their home. Lucile Belen and Jim Crawford will be attending this on behalf of the EDC. No motions made. 8) OTHER BUSINESS 9) PUBLIC COMMENTS None. 10) ADJOURNMENT Chairman Belen declared the meeting adjourned at 4:42 p.m. Minutes by P. Cook Emerson B. Ohl EDC Executive Director ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING SPECIAL BOARD OF DIRECTOR'S MEETING MICHIGAN ROOM I, LANSING RADISSON HOTEL THURSDAY, MAY 27, 1993 11:00 A.M. MEMBERS PRESENT: Lucile Belen; Kathryn Haar; John Petroff; William Porter, Jr.; James Crawford; Gerald Lett; George Mills; Joseph Pandy, Jr.; Joseph Reid STAFF PRESENT: Emerson Ohl; Patricia Cook GUESTS PRESENT: Dave Berridge; Bob Clegg; Ken Lawless; Doug Rubley; Bob Smith; Jud Werbelow Chairman Lucile Belen brought the meeting to order at 11:02 a.m. 1) APPROVAL OF THE MAY 5, 1993 BOARD OF DIRECTOR'S MEETING MINUTES Motion - William Porter, Jr. motioned the Board 'co approve the Board of Director's Meeting Minutes from May 5, 1993 as printed and place them on file. George Mills seconded th.e motion. Joseph Reid asked Chairman Belen to have his comments recorded in the meeting minutes. "Point of order, regarding the question... has been for approval, you will note that in minutes of the meeting, the budget for EDC for the following year was approved by the Board ... my concern, of course, is the fact that the issue of whether or not we're going to approve a budget for an entire year wasn't placed on the agenda, and as a consequence of that, did not provide adequate notice to us as Board persons. At this particular meeting, I was in Chicago and I probably would have cut short my trip if I thought it was a matter of this importance, like the budget, for me to be here, and I think it is inappropriate to prepare an agenda that does not fully and fairly disclose the issues of major importance to this Board, and I consider the budget to be paramount among those." (Chairman Belen asked Mr. Reid if he received a copy of the budget?) "No I did not get a copy of the budget, I did get a copy of the agenda and I did manage to make several copies of that agenda, if you'd like to see it? It doesn't make any reference to budget, and I think that that's inappropriate. As you know, I have particular concern relative to budget, and I think in fairness we ought to really work toward disclosing information to the people on this Board rather than keeping information from them, I think in the interest of the operation, it would be helpful for everyone in the community. (Chairman Belen responded by telling Mr. Reid she did not believe he was intentionally overlooked, rather, the budge! had just been prepared prior to the meeting.) "I understand, I just think that I have never been in an organization where a budget wasn't considered to be a major issue and certainly treated at least as an agenda item, rather than to cavalier an afterthought, which didn't even warrant recognition in a budget, and so for tha-im reason I'm going to vote against the approval of the minutes aric.' I'd like to have my comments recorded." YEAS: Belen; Haar; Petroff; Porter; Crawford; Let -'C. Mills; Pandy NAYS: Reid Motion carried. 2) CAPITOL AVENUE BUILDING - EDC PROJECT Motion - Kathryn Haar motioned the Board to approve the resolution which authorizes execution of documents relating to discharge of mortgage for the Capitol Avenue Building EDC Bond Project. George Mills seconded the motion. A friendly amendment to the motion was offered to include "filling in the address of Altman Brothers Company on the Quit Clair.. Deed" as well as "adding the words 'party' twice on the Deed." The resolution motion, the EDC Chair & Secretary be authorized to sign on behalf of the EDC the documents required to complete this bond mortgage discharge. YEAS: Belen; Haar; Petroff; Porter; Crawford; 'Le!'.�- Mills; Pandy; Reid Motion carried. 3) EXECUTIVE DIRECTOR'S REPORT No motions made. 4) OTHER BUSINESS 5) PUBLIC COMMENTS None. 6) ADJOURNMENT Chairman Belen declared the meeting adjourned at 11.07 a.m. Minutes by P. Cook Emerson B. Ohl EDC Executive DJ,:_°-�.ctor 05-13-9��A09:3? I�CVD ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING SPECIAL BOARD OF DIRECTOR'S MEETING STATE ROOM III, LANSING RADISSON HOTEL TUESDAY, AUGUST 24, 1993 11:00 A.M. MEMBERS PRESENT: Lucile Belen; Kathryn Haar; John Petroff; William Porter, Jr.; George Mills; Joseph Pandy, Jr. STAFF PRESENT: Emerson Ohl; Patricia Cook GUESTS PRESENT: Gerald Boerner; Tom Galyon; Jan Hayhow; Ken Lawless; Kevin McKinney; Chuck Miller; Bob Smith Chairman Lucile Belen brought the meeting to order at 11:02 a.m. 1) APPROVAL OF THE MAY 27, 1993 SPECIAL BOARD OF DIRECTOR'S MEETING MINUTES Motion - William Porter, Jr. motioned the Board to approve the Special Board of Director's Meeting Minutes from May 27, 1993 as printed and place them on file. George Mills seconded the motion. Hearing no objection from any Board member, Chairman Belen so ordered the minutes approved and placed on file. 2) APPROVAL OF THE FINANCIAL STATEMENTS - APRIL, MAY, JUNE, 1993 Motion - George Mills motioned the Board to receive the three months financial statements presented and place them on file. John Petroff seconded the motion. YEAS: Belen; Petroff; Porter; Mills; Pandy Motion carried. 3) APPROVAL OF CONTRACTS: A) Demolition Contract - Michigan Ave/Cedar Street properties Motion - George Mills motioned the Board to approve awarding the contract for demolition of the Michigan Avenue/Cedar Street properties to the low bidder E.T. MacKenzie Company for a not -to -exceed fee of $ 89,389.00 William Porter, Jr. seconded the motion. YEAS: Belen; Petroff; Porter; Mills; Pandy Kathryn Haar entered the meeting at 11:10 a.m. B) Project Manager's Contract - Motion - George Mills motioned the Board to approve the Project Manager's/Supervision proposal (including costs associated with surveying; testing; asbestos inspection/abatement and general conditions) from Clark Construction in the amount of $ 33,727.00 for the demolition of the Mich Ave/Cedar St. buildings. William Porter, Jr. seconded the motion. YEAS: Belen; Haar; Petroff; Porter; Mills; Pandy Motion carried. C) Architectural Design Fees - Mich Ave/Cedar St. Property Emerson reviewed the letter from Hobbs & Black Associates, Inc., relating to their fee for "full architectural services" for the proposed office building at Michigan & Cedar Street. Tom Galyon from the Convention/Visitor's Bureau stated that the Bureau is very interested in continuing negotiations for relocating the Bureau to space within the proposed building. Emerson informed the Board that he has had similar review of the building with the Michigan Travel Bureau and they are also interested in further discussion of relocating there. Most Board members felt a commitment to architectural services was premature until a firm written commitment for leasing was received from each group interested. Subsequent to the above- mentioned discussion, the following motions were presented: Motion - George Mills motioned the Board to authorize the EDC Executive Director to discuss with the Lansing Chamber of Commerce their interest in leasing space in the proposed building on Mich Ave/Cedar Street. Kathryn Haar seconded the motion. Joseph Pandy, Jr. offered a friendly amendment to the motion to include requesting a written communication from all perspective tenants regarding their firm commitment to lease space in the proposed building. George Mills and Kathryn Haar both withdrew their motion. Motion - Joseph Pandy, Jr. motioned the Board to authorize the EDC Executive Director to seek written indications from all perspective tenants as to their commitment to lease space in the proposed building. Mr. Pandy amended his motion to include authorization to speak with the Lansing Chamber of Commerce regarding their interest in leasing space. A further amendment was offered to request all parties interested provide the following information to the EDC Board: square footage requirements; term of lease required; and square footage lease fee affordable. Kathryn Haar seconded the motion. YEAS: Belen; Haar; Petroff; Porter; Mills; Pandy Motion carried. 4) EXECUTIVE DIRECTOR'S REPORT Jan Hayhow, President, Downtown Business Association, and Kevin McKinney, Lansing 2000 Committee, were both present to address the TIFA Board regarding TIFA's financial commitment in funding the CBDDD. Jan briefly outlined some of the programs being worked on including this weekend's Cars/ Capital celebration and thanked the TIFA for its continued support. Kevin McKinney further explained the cooperative spirit that appears to be starting with many downtown business owners in trying to address marketing issues and other similar problems. Kevin informed the Board that some of the funding has been used for promotional pieces such as the "pocket guide" as well as the airline promotion that has been talked about on the TV and radio. He further spoke about the customer and business survey from MSU - they will be sharing the results with the Board, when received. Kevin also thanked the Board for their funding and inquired into their final FY 192/93 $ 7,500.00 bill to TIFA for continuation of this marketing effort. Motion - George Mills motioned the Board to re -approve last quarter's funding of the CBD marketing efforts in the amount of $ 7,500.00, and authorized the EDC staff to make payment. (The EDC Board had given prior approval of this expenditure as follows: $ 22,500 for FY 192/93 and $ 7,500.00 for FY '93/94) John Petroff seconded the motion. YEAS: Belen; Haar; Petroff; Porter; Mills; Pandy Motion carried. 5) OTHER BUSINESS None. 6) PUBLIC COMMENTS None. 7) ADJOURNMENT Chairman Belen declared the meeting adjourned at 11:40 a.m. Minutes by P. Cook Emerson B. Ohl EDC Executive Director 0-3-1 0-94AO9: 37 RCVD ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING SPECIAL BOARD OF DIRECTOR'S MEETING CITY CLUB OF LANSING, DIRECTOR'S ROOM WEDNESDAY, OCTOBER 20, 1993 12:00 P.M. MEMBERS PRESENT: Lucile Belen; Kathryn Haar; John Petroff; William Porter, Jr.; George Mills MEMBERS ABSENT: James Crawford; Gerald Lett; Joseph Pandy, Jr.; Joseph Reid STAFF PRESENT: Emerson Ohl; Patricia Cook GUESTS PRESENT: Roy Croop; Steve Larson; Jim Phelps; Kester So Chairman Lucile Belen brought the meeting to order at 12:07 p.m. 1) APPROVAL OF THE AUGUST 24, 1993 SPECIAL BOARD OF DIRECTOR'S MEETING MINUTES The minutes of the EDC Special Board of Director's Meeting Minutes of August 24, 1993 shall be amended to indicate Board Members Crawford, Lett and Reid as absent. The minutes shall also be amended to reflect the reference to the TIFA Board in Item # 4 (Executive Director's Report) shall be changed to indicate the comments were.directed to the EDC Board of Directors in attendance. Motion - John Petroff motioned the Board to approve the Special Board of Director's Meeting Minutes from August 24, 1993 as amended and place them on file. William Porter, Jr. seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. 2) FIRST AMENDMENT TO UDAG & EDC LOAN AGREEMENT After much discussion among Board members as to the. necessity of the TIFA Signature Block on the last page of the document, the following motions were made: Motion - George Mills motioned the Board to remove the TIFA signature block from the last page of the document entitled "First Amendment to UDAG and EDC Loan Agreement". William Porter, Jr. seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. 3) The Board had some discussion with Jim Phelps and Roy Croop on what the Radisson is projecting for future revenues once Lansing Center is completed and how they are trying renegotiate the existing high debt service interest rate. They expect the 1996 convention season to be the first measurable year of projecting the total impact the expanc1-:.,.:_.- will have on.their projected revenues because the 1995 convention booking season is almost over. Motion - George Mills motioned the Board to approve the resolution presented, approving the "First Amendment to UDAG and EDC Loan Agreement" (originally dated 6/15/85). T -he. motion also instructed the EDC Chair and Secretary to sign the agreement on behalf the Board. William Porter, Jr. seconded motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. EXECUTIVE DIRECTOR'S REPORT Public Sector Consultant report "Lansing Center Expans:I....:. Study - Phase I, Economic Effects" has been comple-: 03-1A09:3 8-94 'I C`;D ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING BOARD OF DIRECTOR'S MEETING NINTH FLOOR CONFERENCE ROOM, CITY HALL WEDNESDAY, DECEMBER 1, 1993 4:00 P.M. MEMBERS PRESENT: Lucile Belen; Kathryn Haar; John Petroff; William Porter, Jr.; James Crawford; George Mills MEMBERS ABSENT: Gerald Lett; Joseph Pandy, Jr.; Joseph Reid STAFF PRESENT: Emerson Ohl; Patricia Cook GUESTS PRESENT: Jeanne Ballard; Tom Galyon; David Hayhow; Jan Hayhow; Ken Lawless; Harold Leeman; Jim Matthew; Kevin McKinney; Jack Patrick; Bob Smith; Robert Trezise Chairman Lucile Belen brought the meeting to order at 4:00 p.m. 1) APPROVAL OF THE OCTOBER 20, 1993 SPECIAL BOARD OF DIRECTOR'S MEETING MINUTES Motion - John Petroff motioned the Board to approve the Special Board of Director's Meeting Minutes from October 20, 1993 as presented and place them on file. George Mills seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. 2) JUNE, 1993 (AMENDED) FINANCIALS Motion - William Porter, Jr. motioned the Board to approve the "Amended" June, 1993 Financials as presented and place them on file. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. 3) EDC FY '92/93 AUDIT Jim Matthew and Jack Patrick from KPMG Peat Marwick were on hand to address any questions the EDC Board had regarding the EDC FY 192/93 Audit (Draft) Motion - William Porter, Jr. motioned the Board to approve the EDC FY '92/93 Audit as presented and place final printed copies on file. George Mills seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. 4) EDC FY '93/94 (AMENDED BUDGET) Emerson explained the FY 193/94 Amended Budget items to the Board. With their previous approval of the demolition and acquisition of the Michigan Ave/Cedar Street properties, and the auditors recommendation to account for UDAG program income as it is received vs. accrueing to a "deferred revenue" account (as in past EDC budgets), it is important for the Board to amend these budget items. The monies expended for the property acquisition will be transferred out of the Meijers UDAG income account. MOTION - George Mills motioned the Board to approve the EDC FY 193/94 Amended Budget as presented. Kathryn Haar seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. 5) JULY, AUGUST, SEPTEMBER, 1993 FINANCIALS MOTION - George Mills motioned the Board to approve and place on file the July, August and September, 1993 EDC Financial Statements as presented. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Mills Motion carried. 6) Central Business District Downtown Development (CBDDD) Fees Jim Crawford entered meeting at 4: 12 p.m. Kevin McKinney addressed the EDC Board in support of their continued financial contribution to fund the CBDDD. He indicated that the other contributions to support their promotion and marketing efforts had been solicited from the Radisson Hotel, Lansing 2000, Downtown Business Assn, Convention/Visitor's Bureau, Convention/Exhibition Authority and the EDC. The Chamber has retained Paul Smith to assist in similar downtown promotion activities. Jan Hayhow told the EDC Board that their support last year was instrumental in funding the Christmas advertising, the airline promotion and the Capital Car Celebration - all in an effort to further promote downtown Lansing. This year's funding would help similar promotion projects. MOTION - Jim Crawford motioned the Board to approve funding the CBDDD for another year. The motion including the funding at a rate of $ 7,500.00 per quarter, $ 22,500.00 for the remaining 3 quarters during FY 193/94. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Crawford; Mills Motion carried. 7) EDC PARTICIPATION - 1994 OLDSMOBILE CLASSIC MOTION - William Porter, Jr. motioned the Board to approve sponsoring the 1994 Oldsmobile Classic Golf Tournament as a Silver Patron in the amount of $ 22,000.00. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Crawford; Mills Motion carried. 8) EXECUTIVE DIRECTOR'S REPORT A) Change order deduct - Clark Construction (Mich Ave/Cedar) MOTION - George Mills motioned the Board to approve an expenditure of up to $ 2,025.00 for the repairs necessary to complete the sidewalk on the NW corner of Michigan Avenue/Cedar Street. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Crawford; Mills Motion carried. B) ICMA (401a) - Plan Enhancements MOTION - William Porter, Jr. motioned the Board to approve an annual expenditure of $ 1,000.00 to the ICMA Retirement Corporation for plan enhancement management of the EDC's past and present employee 401a retirement accounts. John Petroff seconded the motion. YEAS: Belen; Haar; Porter; Petroff; Crawford; Mills Motion carried. 9) OTHER BUSINESS Emerson reported to the EDC Board that the bids received on the Foundations/ Concrete and Structural Steel for phase IIa o;. the TIFA Lansing Center project looked very favorable. A special TIFA Board meeting would be scheduled next week to accept the lowest qualified bidder for these bid packages. No motions made. 10) 'PUBLIC COMMENTS None. 11) ADJOURNMENT Chairman Belen declared the meeting adjourned at 4:35 p.m. Minutes by P. Cook / Emerson B. Ohl EDC Executive Director