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HomeMy WebLinkAbout1996 LEDC minutesECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING SPECIAL BOARD OF DIRECTOR'S MEETING MAYOR'S CONFERENCE ROOM NINTH FLOOR, LANSING CITY HALL WEDNESDAY, JANUARY 10, 1996 4:00 P.M. MEMBERS PRESENT: David Hollister; Val Moeller; John Petroff; William Porter, Jr.; Joseph Reid MEMBERS ABSENT: William Long; Joseph Pandy TEMPORARY MEMBERS PRESENT: Ed Carpenter; Jan Hayhow STAFF PRESENT: Patricia Cook; Barbara Foreman; Dennis Sykes; Peggy Vaughn CITY Y CLERK GUESTS PRESENT: Daniel Fulgham; Terry Graham; James Kutt; Ken Lawless; Harold Leeman; Frank Scozzafave; Michael Scozzafave; Larry Shumway; Gary Simons Chair Hollister called the meeting to order at 4:10 p.m. 1) APPROVAL OF THE BOARD OF DIRECTOR'S MTG. MINUTES FROM DECEMBER 6, 1995 Motion - Joseph Reid motioned the Board to approve the December 6, 1995 Meeting Minutes as presented and place them on file. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC FINANCIAL STATEMENTS - JULY, 1995 Chair Hollister asked that the EDC Financial Statements (July, 1995) be received and placed on file as presented. Yeas: Unanimous. Motion carried. 3) EDC B.F.A.P. PROJECTS a) Projects Status Update - December 31, 1995 The Board received a copy of the B.F.A.P. Project Status Update and also a copy of the B.F.A.P. Analysis of Program Loan Funds, which were prepared by Peggy Vaughn. b) Bare Bone - Old Kent Request for Reconsideration of Loan Motion - John Petroff motioned the Board to approve $35,000 of further subordination of the EDC loan to the Bare Bone Project as presented. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. c) Elbinger Laboratories, Inc. Request for Modification of Loan Categories Motion - John Petroff motioned the Board to approve the transfer of $39,600 from Elbinger Laboratories Equipment Fund to their Construction Rehabilitation Fund as requested by Doug Elbinger. William Porter, Jr. seconded the motion. Yeas: Carpenter; Hayhow; Hollister; Moeller; Petroff; Porter Abstain: Reid d) Quest 5 Project - Consideration of Loan Commitment The Board received a copy of the Analysis of Funding Request for Quest 5, Ltd. which included EDC staff recommendations for the Quest 5 Project. Motion - John Petroff motioned the Board to approve the EDC Loan Commitment in the amount of $100,000 for the Quest 5 Project as presented. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. 4) OTHER BUSINESS a) Sponsorship of Regional Economic Forum ($1,000) Pat Cook informed the Board that no action was required on their part regarding sponsoring the Regional Economic Forum in the amount of $1,000. Pat stated that the funds are available in the EDC Public Relations Budget. The Forum will take place on Thursday, February 15, 1996, 7:30 a.m. - 2 p.m., at the Kellogg Center and the Board received a copy of a flyer outlining the issues that will be discussed. b) Update on Discussions with Block 100 Hotel (Radisson) Pat Cook mentioned that a 3rd meeting with Radisson Hotel representatives had taken place in late December. Radisson representatives, with input from the Greater Lansing Convention/Visitors Bureau, are preparing a report regarding future needs for hotel rooms in the downtown Lansing area. Pat Cook further mentioned that Joe Pandy will be following—up on the status of the report and possibly the report will be available to the Board at the February Board Meeting. c) Update on Venture Center, Inc. Pat Cook informed the Board that the loan closing for the Venture Center Project should take place at the end of January or the beginning of February. d) Update on the Greater Lansing Health Education Collaborative The Board received weekly reports (Nov.27th & Dec. 8th 195) on the progress of the Collaborative, which were prepared by Marc Cory, GLHEC Coordinator. Pat Cook mentioned that on December 18th the Mayor, Peggy Vaughn, Marc Cory and herself had taken a trip to Flint to visit the Genesee Intermediate School District where a health collaborative program is already in place. The Board received a copy of an overview of the Genesee County School—to—Work Program. 5) PUBLIC COMMENT None. 6) ADJOURNMENT Chair Hollister declared the meeting adjourned at 5:30 p.m. Minutes by B. Foreman Cz kv_ Patricia A. Cook EDC Manager ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING SPECIAL BOARD OF DIRECTOR'S MEETING MAYOR'S CONFERENCE ROOM NINTH FLOOR, LANSING CITY HALL THURSDAY, FEBRUARY 22, 1996 3:00 P.M. MEMBERS PRESENT: David Hollister; William Long; Val Moeller; Joseph Pandy; John Petroff; William Porter, Jr. MEMBERS ABSENT: Paul Novak; Joseph Reid TEMPORARY MEMBERS PRESENT: Ed Carpenter; Jan Hayhow STAFF PRESENT: Patricia Cook; Barbara Foreman; Dennis Sykes; Peggy Vaughn GUESTS PRESENT: Harold Leeman; Kelly Thompson Chair Hollister called the meeting to order at 3:06 p.m. 1) ELECTION OF OFFICERS, 1996 Motion - William Long motioned the Board to approve the following slate of officers for 1996: David Hollister - Chair Joseph Pandy - Vice -Chair Joseph Reid - Secretary John Petroff - Treasurer Val Moeller seconded the motion. Yeas: Unanimous. Motion carried. 2) APPROVAL OF THE SPECIAL BD. OF DIRECTORS MTG. MINUTES - JAN. 10, 196 Motion - Val Moeller motioned the Board to approve the January 10, 1996 Meeting Minutes as presented and place them on file. William Long seconded the motion. Yeas: Unanimous. Motion carried. 3) EDC FINANCIAL STATEMENTS - AUGUST THROUGH DECEMBER, 1995 Motion - William Long motioned the Board to approve the EDC Financial Statements (August thru December, 1995) as presented and place them on file. John Petroff seconded the motion. _ F_, C! r- '; Yeas: Unanimous. Motion carried. 4) EDC BUSINESS FINANCING ASSISTANCE PROGRAM PROJECTS a) Projects Status Update - February 16, 1996 The Board received a copy of the B.F.A.P. Project Status Update and also a copy of the B.F.A.P. Analysis of Program Loan Funds, which was prepared by Peggy Vaughn. 5) OTHER BUSINESS a) EDC Board Annual Report for 1995 b) EDC Work Program & Goals for 1996 Motion - William Long motioned the Board to approve the EDC Board Annual Report for 195 and also the EDC Work Program & Goals for 196 as presented, with the understanding that the Board will be able to incorporate additions/changes etc. to either document at the March 6, 1996 Board meeting. Joseph Pandy seconded the motion. Yeas: Unanimous. Motion carried. c) Amendment to Capital Consultant Contract (re: Baseball Stadium) Motion - William Long motioned the Board to approve the Amendment to the Capital Consultant Contract (re: Baseball Stadium) as presented. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. Motion - William Long motioned the Board to approve modifying the existing EDC Budget to include the amended amount for the Capital Consultant Contract. Val Moeller seconded the motion. Yeas: Unanimous. Motion carried. Chair Hollister mentioned to the Board that if they were interested in a tour of the baseball stadium (Wednesdays at 7:00 a.m.) to let him know. Dennis Sykes mentioned that at 3:00 p.m. on Wednesdays their are regularly scheduled tours of the stadium and anyone that is interested can contact Janette Ristow in his office (483-4060). d) Update of the Greater Lansing Health Education Collaborative The Board received weekly reports (Dec. 11th 195 thru Jan. 26th 196) on the progress of the Collaborative, which were prepared by Marc Cory, GLHEC Coordinator. e) Update on EDC's Future Funding Sources Pat Cook informed the Board that Bill Long, Peggy Vaughn and herself had met within the last 30 days to discuss future funding for the EDC. Pat stated that before developing a plan they have been researching other entities that are involved with Economic Development, such as the Chamber, REDT, CGA, BWL, as well as, other areas across the State of Michigan, taking a look at their budgets, staff and how they are funded. They are also taking a look at the programs that these entities offer. Pat further stated that a "draft" plan should be presented to the Board at the April 196 Board Meeting. f) Update on Discussions w/Radisson Hotel (100 Block) Pat Cook mentioned to the Board that the report regarding future needs for hotel rooms in the downtown Lansing area, which is being prepared by Radisson representatives with input from the Greater Lansing Convention/Visitors Bureau, has not yet been received. 6) PUBLIC COMMENT None. 7) ADJOURNMENT Chair Hollister declared the meeting adjourned at 4:00 p.m. Minutes by B. Foreman 6/; �� d. &4--, 11 Patricia A. Cook EDC Manager ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING Ft �, BOARD OF DIRECTOR'S MEETING i' f -' MAYOR'S CONFERENCE ROOM „ ,- NINTH FLOOR, LANSING CITY HALL CITY Y CHEEK WEDNESDAY, MARCH 6, 1996 4:00 P.M. MEMBERS PRESENT: David Hollister; Val Moeller; Paul Novak; John Petroff; William Porter, Jr. MEMBERS ABSENT: William Long; Joseph Pandy; Joseph Reid TEMPORARY MEMBERS PRESENT: Ed Carpenter; Jan Hayhow STAFF PRESENT: Patricia Cook; Barbara Foreman; Peggy Vaughn GUESTS PRESENT: Marc Cory; Kelly Thompson Chair Hollister called the meeting to order at 4:07 p.m. 1) Approval of the Special Bd. of Directors Mtg. Minutes from 2/22/96 Motion - Val Moeller motioned the Board to approve the February 22, 1996 Meeting Minutes as presented and place them on file. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC Financial Statements - January 1996 Motion - John Petroff motioned the Board to approve the EDC Financial Statements (January, 1996) as presented and place them on file. Val Moeller seconded the motion. Yeas: Unanimous. Motion carried. 3) EDC B.F.A.P. Projects a) Project Status Update & Analysis of Program Loan Funds The Board received a copy of the B.F.A.P. Project Status Update and also a copy of the B.F.A.P. Analysis of Program Loan Funds, which was prepared by Peggy Vaughn. Peggy mentioned that Elbinger Laboratories will be having a Ribbon Cutting Ceremony on March 26th 196 from 11:30 a.m. to 1 p.m. and their Grand Opening is scheduled for April 4th, '96. Peggy further mentioned that a Pre—Application has been received from Spotlight Theater, which is located in Grand Ledge. Spotlight Theater is interested in building a new facility in the Old Town area. 4) OTHER BUSINESS a) EDC Work Program & Goals for 1996 Pat Cook informed the Board that, per their request at the last Board meeting, Item 16 was added to the EDC Work Program & Goals for 196. Item 16 states that the EDC will continue to work on the development of additional hotel rooms within the downtown Lansing area. Paul Novak requested that a copy of the EDC Work Program & Goals for 1996 be forwarded to City Councilmembers for their information. ' b) Staff Recommended EDC Budget Modifications Pat Cook reminded the Board that at the February Board Meeting they had approved an additional $16,120 for the Capital Consultants Contract. Pat stated that the EDC FY '95-96 Budget already reflects operating at a $50,000 deficit for the year and the additional amount for the Capital Consultants Contract will add to that deficit. Pat presented to the Board the following modifications to the budget in order to continue to be in line with the original $50,000 deficit for the FY 195-96. 1) Reduce Market/Public Relations budget by $10,120. 2) Reduce Contractual Services budget by $3,000. 3) Reduce Professional Services budget by $5,500. c) Update on Greater Lansing Health Education Collaborative The Board received weekly reports (Jan. 29th 196 thru Feb. 23rd 196) on the progress of the Collaborative, which were prepared by Marc Cory, GLHEC Coordinator. 5) PUBLIC COMMENT Kelly Thompson (Downtown Lansing, Inc.) mentioned that the Principal Shopping District will be on the City Council Agenda Monday, March 11th 196. Peggy Vaughn informed the Board that Lansing will be hosting the Statewide Downtown Development Meeting in May. Peggy stated that she would have all of the details regarding this event available to the Board at the April Board Meeting. 6) ADJOURNMENT Chair Hollister declared the meeting adjourned at 4:30 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING SPECIAL BOARD OF DIRECTOR'S MEETING MAYOR'S CONFERENCE ROOM NINTH FLOOR, LANSING CITY HALL WEDNESDAY, APRIL 10, 1996 4:00 P.M. MEMBERS PRESENT: David Hollister; Paul Novak; Joseph Pandy; John Petroff; William Porter, Jr. MEMBERS ABSENT: William Long; Val Moeller; Joseph Reid TEMPORARY EDC MEMBERS PRESENT: Jan Hayhow TEPORARY EDC MEMBERS ABSENT: Ed Carpenter STAFF PRESENT: Patricia Cook; Barbara Foreman; Peggy Vaughn GUESTS PRESENT: Marc Cory; Brad Shaw; Kelly Thompson Chair Hollister called the meeting to order at 4:10 p.m. Pat Cook stated that two additional items needed to be added to the Agenda under Other Business: 1) 4g — EDC Funding for the LPGA and 2) 4h — Churchill Company Calendar Year Audit. 1) APPROVAL OF THE BOARD OF DIRECTORS MTG. MINUTES FROM MARCH 6, 1996 Motion — William Porter, Jr. motioned the Board to approve the March 6, 1996 Meeting Minutes as presented and place them on file. Paul Novak seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC FINANCIAL STATEMENTS — FEBRUARY, 1996 Motion — John Petroff motioned the Board to approve the EDC Financial Statements (February, 1996) as presented and place them on file. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. 3) EDC B.F.A.P. PROJECTS a) Projects Status Update & Analysis of Program Loan Funds The Board received a copy of the B.F.A.P. Project Status Update and also a copy of the B.F.A.P. Analysis of Program Loan Funds, which was prepared by Peggy Vaughn. 4) OTHER BUSINESS a) Venture Center, Inc. Update — Brad Shaw Brad Shaw, Executive Director of the Venture Center, gave the Board a brief update on the project. Brad mentioned that the Venture Center became officially incorporated on November 29, 1995 and closed their loan with the EDC on February 14, 1996. During the 1st Quarter 130 entrepreneurs were interviewed — 42% of those interviewed were from the Lansing area and 37% were from the East Lansing, Okemos and Haslett area. Brad also mentioned that the Center is currently active in putting together 24 business plans and the first two tenants moved into the Venture Center on April 1, 1996. b) Update on Greater Lansing Health Education Collaborative The Board received weekly reports (February 26th 196 thru March 22nd 196) on the progress of the Collaborative, which was prepared by Marc Cory, GLHEC Coordinator. c) Resolution of Support for City's Site Assessment Grant (Action Auto Property) Motion — Joseph Pandy motioned the Board to approve the Resolution as presented. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. d) Update on EDC's Future Funding Sources Pat Cook mentioned to the Board that she and Peggy Vaughn are continuing to work with Bill Long on future funding sources for the EDC. Pat handed out to the Board a copy of an Analysis of Responsibilty of Economic Development Activities for the Greater Lansing Area, which was prepared by Peggy Vaughn. e) Update on DDA Meeting (May 10, 196) The Board received a copy of the invitation that was sent to all Michigan Downtown Development Authorities, which included a tentative agenda for the meeting. f) EDC Board — "Night at the Stadium" (June 5, 196) The Board received an invitation to join the Mayor at Oldsmobile Park (City of Lansing Suite) for dinner and a baseball game on June 5th. Board members families are included and Pat Cook asked that RSVP's be phoned in to Barbara Foreman (483-4140) in the EDC office as soon as possible. g) Funding for the LPGA Tournament Pat Cook stated to the Board that it is the recommendation of EDC staff to contact Meridian Township, East Lansing and Delta Township to solicite funding for a Silver Patron Package for the LPGA Tournament. The total cost for a Silver Patron Package is $22,000 and if shared with the EDC and the above three entities the total cost for the EDC would be $5,500. Pat further stated that should there not be regional support to purchase the Silver Patron Package the EDC would be willing to purchase a Copper Patron Package for the LPGA Tournament with a total cost of $5,500. Motion — John Petroff motioned the Board to approve the EDC staff recommendations for LPGA funding as presented. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. h) Churchill Company Calendar Year Audit The Board received a copy of the Churchill Company Calendar Year Audit for their review. Pat Cook stated that discussion regarding Churchill will be on the EDC Agenda for the May 1st '96 Board Meeting. 5) PUBLIC COMMENT Kelly Thompson (Downtown Lansing, Inc.) mentioned that the Public Hearing for the Principal Shopping District Ordinance will be on the City Council Agenda on Monday, April 29th 196. 6) ADJOURNMENT Chair Hollister declared the meeting adjourned at 4:58 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager MEMBERS PRESENT: David Hollister; William Long; Val Moeller; John Petroff; William Porter, Jr. MEMBERS ABSENT: Paul Novak; Joseph Pandy; Joseph Reid TEMPORARY MEMBERS PRESENT: Jan Hayhow TEMPORARY MEMBERS ABSENT: Ed Carpenter STAFF PRESENT: Patricia Cook; Barbara Foreman; Dennis Sykes; Peggy Vaughn GUESTS PRESENT: Marc Cory; Harold Leeman Due to a lack of a quorum at 4:05 p.m. the following information only agenda items were discussed: 4c (Other Business) Reminder - EDC/TIFA Board - Lugnuts Game w/Dinner (6/5/96) Pat Cook reminded the Board that RSVP's for the Lugnut Game & Dinner (6/5/96) needed to be phoned in to Barbara Foreman (483-4140) as soon as possible. 4b (Other Business) Update on Greater Lansing Health Education Collaborative The Board received weekly reports (March 25th, '96 thru April 19th, 196) on the progress of the Collaborative, which were prepared by Marc Cory, GLHEC Coordinator. Val Moeller entered the meeting at 4:18 p.m. A quorum was now present and Chair Hollister called the meeting to order. 1) APPROVAL OF THE SPECIAL BD. OF DIRECTOR'S MTC. MINUTES FROM 4/10/96 Motion - John Petroff motioned the Board to approve the April 10, 1996 Meeting Minutes as presented and place them on file. William Porter, Jr. seconded the motion. ECONOMIC DEVELOPMENT CORPORATION ii r✓ �,t ;5 OF THE CITY OF LANSING BOARD OF DIRECTOR'S MEETING MAYOR'S CONFERENCE ROOM NINTH FLOOR, LANSING CITY HALL WEDNESDAY, MAY 1, 1996 4:00 P.M. MEMBERS PRESENT: David Hollister; William Long; Val Moeller; John Petroff; William Porter, Jr. MEMBERS ABSENT: Paul Novak; Joseph Pandy; Joseph Reid TEMPORARY MEMBERS PRESENT: Jan Hayhow TEMPORARY MEMBERS ABSENT: Ed Carpenter STAFF PRESENT: Patricia Cook; Barbara Foreman; Dennis Sykes; Peggy Vaughn GUESTS PRESENT: Marc Cory; Harold Leeman Due to a lack of a quorum at 4:05 p.m. the following information only agenda items were discussed: 4c (Other Business) Reminder - EDC/TIFA Board - Lugnuts Game w/Dinner (6/5/96) Pat Cook reminded the Board that RSVP's for the Lugnut Game & Dinner (6/5/96) needed to be phoned in to Barbara Foreman (483-4140) as soon as possible. 4b (Other Business) Update on Greater Lansing Health Education Collaborative The Board received weekly reports (March 25th, '96 thru April 19th, 196) on the progress of the Collaborative, which were prepared by Marc Cory, GLHEC Coordinator. Val Moeller entered the meeting at 4:18 p.m. A quorum was now present and Chair Hollister called the meeting to order. 1) APPROVAL OF THE SPECIAL BD. OF DIRECTOR'S MTC. MINUTES FROM 4/10/96 Motion - John Petroff motioned the Board to approve the April 10, 1996 Meeting Minutes as presented and place them on file. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC FINANCIAL STATEMENTS - MARCH, 1996 Motion - John Petroff motioned the Board to approve the EDC Financial Statements (March, 1996) as presented and place them on file. Val Moeller seconded the motion. Yeas: Unanimous. Motion carried. 3) EDC B.F.A.P. PROJECTS a) Projects Status Update & Analysis of Program Loan Funds The Board received a copy of the B.F.A.P. Project Status Update and also a copy of the B.F.A.P. Analysis of Program Loan Funds, which was prepared by Peggy Vaughn. b) Status of Pre -Application - "Spotlight Theatre Project" Peggy Vaughn informed the Board that it is the recommendation of EDC staff to postpone having the applicant complete a full application until such time that they can provide the EDC with the following: 1' Documentation that the three parcels of property in Old Town have been purchased and/or optioned by Spotlight Theatre. 2. Letter of participation by a bank 3. Construction bids (3) 4. Marketing plan 5. Fundraising plan The Board supports the staff recommendation on this project. 4) OTHER BUSINESS a) Review of "Draft" FY 96/97 EDC Budget The Board received a copy of the "Draft" FY 96/97 EDC Budget for their review. Pat Cook stated that action on the budget would be needed by the Board at the June 5th 196 Board Meeting. Pat Cook mentioned two additional items to the Board: 1) Funding for the LPGA Tournament Pat informed the Board that she had contacted Meridian Township, East Lansing and Delta Township to solicit funding for a Silver Patron Package for the LPGA Tournament. Due to the lateness of the request prior to the LPGA event, the opportunity for any advertising would be missed and also budget constraints were a factor in not being able to participate this year. Pat mentioned that there was interest expressed by Meridian, Delta and East Lansing to participate next year, provided we start on this in early 197. Pat further mentioned that the EDC would participate as a Copper Patron as approved by the Board at the April 10, 1996 Board Meeting. 2) EDC Parcel at the corner of Cedar St. & Michigan Ave. Pat informed the Board that discussions had taken place between herself, the City Public Service Dept. and the City Finance Dept. regarding the lot owned by the EDC, which is located next to the Lansing Center. Pat stated it was suggested by these departments that the EDC consider letting the City develop this property into a parking lot for a temporary period of time. Pat also stated that she will be meeting again with the Public Service Dept. and the Finance Dept. and further information and discussion regarding this request will take place at the June 5th Board Meeting. 5) PUBLIC COMMENT None. 6 ) ADJOURNMENT Chair Hollister declared the meeting adjourned at 4:55 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING BOARD OF DIRECTOR'S MEETING MAYOR'S CONFERENCE ROOM NINTH FLOOR, LANSING CITY HALL WEDNESDAY, JUNE 5, 1996 4:00 P.M. MEMBERS PRESENT: David Hollister; William Long; Val Moeller; Paul Novak; John Petroff; William Porter, Jr. MEMBERS ABSENT: Joseph Pandy; Joseph Reid TEMPORARY MEMBERS PRESENT: Ed Carpenter; Jan Hayhow STAFF PRESENT: Patricia Cook; Barbara Foreman; Peggy Vaughn GUESTS PRESENT: Kim Coleman; Susan Cocciarelli; Marc Cory; Chris Doby; Judy Kehler; Tim Strasz; Emil Winnicker Chair Hollister called the meeting to order at 4:07 p.m. Chair Hollister introduced Kim Coleman, Executive Director of the Downtown Lansing YMCA. Kim will be joining the EDC Board in July (replacing Steven Morris) after the City Council approves her appointment. Chair Hollister also congratulated Val Moeller on her new position in Columbus, Ohio. Val expressed how much she had enjoyed serving on the EDC Board. Pat Cook mentioned that one additional item needed to be added to the Agenda: 4h (Other Business) Greater Lansing Board of Realtors EDC Bond Project 1) APPROVAL OF THE BOARD OF DIRECTOR'S MEETING MINUTES FROM MAY 1, 1996 Motion — William Long motioned the Board to approve the May 1, 1996 Meeting Minutes as presented and place them on file. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC FINANCIAL STATEMENT — APRIL, 1996 Chair Hollister asked that the EDC Financial Statement (April, 1996) be received and placed on file. Yeas: Unanimous. Motion carried. 3) EDC B.F.A.P. PROJECTS a) Projects Status Update & Analysis of Program Loan Funds The Board received a copy of the B.F.A.P. Project Status Update and also a copy of the B.F.A.P. Analysis of Program Loan Funds, which was prepared by Peggy Vaughn. 4) OTHER BUSINESS a) Report on DDA Meeting (5/10/96) Peggy Vaughn informed the Board that the Statewide Downtown Development Authority Meeting on May 10th '96 was a great success. The Board received a written overview of the day's events, which was prepared by Peggy. b) Project Update — Health Collaborative The Board received weekly reports (April 22nd, '96 thru May 17th 196) on the progress of the Collaborative, which were prepared by Marc Cory, GLHEC Coordinator. c) EDC Commitment to Guarantee Loans for "Lansing Community Microenterprise Fund" The Board received a copy of a letter dated May 23, 1996 which was sent to Pat Cook from Emil Winnicker, City of Lansing Development Manager, requesting that the EDC commit $25,000 to the loan guarantee fund. Emil explained to the Board that the intention of the fund is to provide both loans & training for owners of Microenterprise Businesses. Emil further explained that Microenterprise Businesses are defined as businesses having five or less employees, including the proprietor of the business. Motion — William Long motioned the Board to authorize EDC Staff to proceed with the City and other participants to develop some parameters for the guarantee, with the understanding that there would be participation on the Loan Review Committee by a staff member of the EDC. Paul Novak seconded the motion. Yeas: Unanimous. Motion carried. d) FY '95/96 Audit Engagement Motion — William Long motioned the Board to approve engaging the firm of Kutas, Hawes, Wolcott & Bergman, P.C. to perform the FY 195/96 EDC Audit in the amount of $4,100. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. e) FY 196/97 EDC Budget Motion — John Petroff motioned the Board to approve the FY 196/97 EDC Budget as presented. Val Moeller seconded the motion. Yeas: Unanimous. Motion carried. f) Personnel Procedures for Family Medical Leave Act Motion — William Long motioned the Board to adopt the Personnel Procedures for Family Medical Leave as presented. Paul Novak seconded the motion. Yeas: Unanimous. Motion carried. g) Use of Cedar/Michigan Avenue property for Parking Motion — William Long motioned the Board to authorize EDC Staff to work with the Lansing Building Authority to negotiate an agreement to develop the Cedar/ Michigan Avenue property for short—term parking. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. h) Greater Lansing Board of Realtors EDC Bond Project Pat Cook informed the Board that she had received a call from Elaine West, Executive Director of the Greater Lansing Board of Realtors, indicating that the Board of Realtor's EDC Bond was paid in full to First of America Bank in November, 1995. Pat requested a motion from the Board to authorize EDC Staff to work with EDC's Bond Council to prepare all payment and payoff documents in order to close out all paperwork and return the name of the property to the Greater Lansing Board of Realtors. Motion — William Porter, Jr. motioned the Board to approve Pat Cook's request as presented. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. 5) PUBLIC COMMENT None. 6 ) ADJOURNMENT Chair Hollister declared the meeting adjourned at 5:18 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING SPECIAL BOARD OF DIRECTOR'S MEETING MAYOR'S CONFERENCE ROOM NINTH FLOOR, LANSING CITY HALL WEDNESDAY, JULY 10, 1996 4:00 P.M. MEMBERS PRESENT: David Hollister; William Long; Paul Novak; Joseph Pandy; John Petroff; Joseph Reid MEMBERS ABSENT: Kim Coleman; William Porter, Jr. TEMPORARY MEMBERS PRESENT: Ed Carpenter TEMPORARY MEMBERS ABSENT: Jan Hayhow STAFF PRESENT: Patricia Cook; Barbara Foreman; Peggy Vaughn GUESTS PRESENT: Pam Blough; Raymond Choi Chair Hollister called the meeting to order at 4:05 p.m. 1) APPROVAL OF THE BOARD OF DIRECTORS MEETING MINUTES FROM JUNE 5, 1996 Motion — John Petroff motioned the Board to approve the June 5, 1996 Meeting Minutes as presented and place them on file. Paul Novak seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC FINANCIAL STATEMENT — MAY, 1996 Chair Hollister asked that the EDC Financial Statement (May, 1996) be received and placed on file. Yeas: Unanimous. Motion carried. William Long entered the meeting at 4:10 p.m. 3) EDC B.F.A.P. PROJECTS a) Projects Status Update & Analysis of Program Loan Funds The Board received a copy of the B.F.A.P. Project Status Update and also a copy of the B.F.A.P. Analysis of Program Loan Funds dated June 30, 1996, which was prepared by Peggy Vaughn. 4) OTHER BUSINESS a) Project Update — Health Collaborative The Board received weekly reports (May 20th, '96 thru June 28th, '96) on the progress of the Collaborative, which were prepared by Marc Cory, GLHEC Coordinator. b) Update on Development of Parking Lot (Cedar/Michigan Avenue) — "Draft License Agreement" Motion — Joseph Pandy motioned the Board to approve the "Draft License Agreement" as presented. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. Paul Novak requested that the EDC Manager discuss the above item with the Chair of the Development & Planning Committee. C) EDC Bond Project (Capital Avenue Building) Pat Cook reminded the Board that on May 27, 1993 the Board had passed a Resolution which closed out the Altman Brothers/ Towne Center EDC Bond Project. Pat stated that one of the closing documents had not been signed by any member of the EDC Board. Pat further stated that Harvey Altman is now in the process of trying to refinance the property and Midstate Title Co. has drafted a Quick Claim Deed which needs EDC Board approval. Motion — Paul Novak motioned the Board to approve the Quick Claim Deed as presented. Joseph Pandy seconded the motion. Yeas: Unanimous. Motion carried. 5) PUBLIC COMMENT None. 6 ) ADJOURNMENT Chair Hollister declared the meeting adjourned at 4:35 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF LANSING BOARD OF DIRECTOR'S MEETING MAYOR'S CONFERENCE ROOM NINTH FLOOR, LANSING CITY HALL WEDNESDAY, AUGUST 7, 1996 4:00 P.M. MEMBERS PRESENT: Kim Coleman; David Hollister; William Long; John Petroff; Joseph Reid MEMBERS ABSENT: Paul Novak; Joseph Pandy; William Porter, Jr. TEMPORARY MEMBERS PRESENT: Jan Hayhow TEMPORARY MEMBERS ABSENT: Ed Carpenter STAFF PRESENT: Patricia Cook; Barbara Foreman; Peggy Vaughn GUESTS PRESENT: None Chair Hollister called the meeting to order at 4:10 p.m. 1) APPROVAL OF THE SPECIAL BD. OF DIRECTORS MTG. MINUTES FROM 7/10/96 Motion — Joseph Reid motioned the Board to approve the July 10, 1996 Meeting Minutes as presented and place them on file. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC FINANCIAL STATEMENTS — JUNE, 1996 Motion — John Petroff motioned the Board to approve the EDC Financial Statements (June, 196) as presented and place them on file. William Long seconded the motion. Yeas: Unanimous. Motion carried. 3) EDC B.F.A.P. PROJECTS a) Projects Status Update & Analysis of Program Loan Funds The Board received a copy of the B.F.A.P. Project Status Update and also a copy of the B.F.A.P. Analysis of Program Loan Funds dated July 31, 1996, which was prepared by Peggy Vaughn. 4) OTHER BUSINESS a) Project Update — Health Collaborative Pat Cook informed the Board that with the cooperative efforts of the Lansing School District, Sparrow Hospital and Hill Vocational Center, a pilot program for the GLHEC will begin on September 3, 1996. Classes will be held at Sparrow hospital with 24 students participating. b) Tentative/Letter of Inducement for EDC Bond Project — Quality Dairy Motion — Joseph Reid motioned the Board to approve the Letter of Inducement for Quality Dairy as presented. William Long seconded the motion. Yeas: Unanimous. Motion carried. c) Update on Other Development Projects Pat Cook mentioned to the Board that on Friday, August 9, 1996, the Mayor, Dennis Sykes and herself will be hosting a tour with Professors from the University of Michigan Business School. The tour will include visiting several downtown Lansing & Old Town development projects and also a Lugnut Baseball Game. The University of Michigan has indicated an interest in assisting the City of Lansing & the EDC in future development projects. 5) PUBLIC COMMENT None. 6 ) ADJOURNMENT Chair Hollister declared the meeting adjourned at 4:40 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager Economic Development Corporation of the City of Lansing Board of Director's Meeting Mayor's Conference Room Ninth Floor, Lansing City Hall Wednesday, October 2, 1996 4:00 P.M. Members Present: Kim Coleman; David Hollister; William Long; John Petroff, William Porter, Jr. Members Absent: Paul Novak; Joseph Pandy; Joseph Reid Temporary Members Present: Ed Carpenter; Jan Hayhow Staff Present: Patricia Cook; Barbara Foreman; Dennis Sykes Guests Present: Raymond Choi; Charlie Hawes; Steve Kutas, Jr.; Ken Lawless; Harold Leeman; Brad Shaw Chair Hollister called the meeting to order at 4:08 p.m. 1) Approval of the Board of Director's Meeting Minutes from August 7, 1996 Motion: William Long motioned the Board to approve the August 7, 1996 Meeting Minutes as presented and place them on file. Kim Coleman seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC Financial Statements - June, 1996 (corrected) Motion: John Petroff motioned the Board to approve the EDC Financial Statements (June, 1996 - corrected) as presented and place them on file. Kim Coleman seconded the motion. Yeas: Unanimous. Motion carried. 3) EDC B.F.A.P. Projects a) Projects Status Update and Analysis of Program Loan Funds (Sept. 30,96) Motion: John Petroff motioned the Board to receive and place on file the Projects Status Update and Analysis of Program Loan Funds (Sept. 30. 1996), which was prepared by Peggy Vaughn. Jan Hayhow seconded the motion. Yeas: Unanimous. Motion carried. 4) Other Business - Information Only a) Project Updates --Venture Center, Inc. (Incubator) Brad Shaw, President and CEO of the Venture Center, explained to the Board that due to the rehabilitation of the Corr Building, the Venture Center has temporarily relocated to the Manly Miles Building in East Lansing. --Greater Lansing Health Education Collaborative Pat Cook informed the Board that she had received a letter from Michigan Capital Medical Center stating that they will be participating in funding the second year of the GLHEC Program, along with Sparrow Hospital and the Lansing School District. Pat mentioned that an Annual Report on the Collaborative will be presented to the Board at the November Board Meeting. Pat further mentioned that an open house for the GLHEC is being planned for Tuesday, October 8, '96, 2:30 p.m., at Sparrow Hospital. --Treasury Allocation - Quality Dairy The Board received a copy of an Amended Order from the State Treasurer, Douglas B. Roberts, granting the EDC a $3,000,000. allocation to complete the Quality Dairy Project (Lot #6 at the Diamond Reo Site). Pat Cook mentioned that the Bond Issue for the project must be closed prior to December 1, 1996. Chair Hollister requested that the Amended Order from the State Treasurer be received and placed on file. The Board unanimously agreed. --Renaissance Zone Application The Board received information outlining the Michigan Renaissance Zone Program. A renaissance zone is a geographic area designated by the state and local government as virtually tax free. The key goal of the renaissance zone program is to serve as a catalyst for the economic revival of depressed urban and rural areas in the State. Pat Cook stated that Renaissance Zone Applications were submitted to the State by the City Planning and Neighborhood Development Department on Monday, September 30, 1996. Approval of the applications, by the State, are expected the first part of December, '96. The two areas that the City has chosen for the Renaissance Zone Program are the "Seven Block Area" and the "Lindell Forge" site. --Project Tours for Rating Agencies . Pat Cook informed the Board that a tour with Moody's Rating Agency had taken place on Friday, September 6, 1996. Pat stated that a tour with the Fitch Rating Agency is taking place today, October 2nd and a third tour with Standard & Poor will take place October 3, '96. The tours include visiting new development projects in the downtown area as well as the Pere Marquette area and Old Town. --Pat Cook also informed the Board of the following: 1) The closing with CATA on the Ground Transportation Center took place on Tuesday, September 17, '96. Originally CATA was going to own the property and lease it to the City and in turn the City was going to sub -lease the property to a tenant. CATA has taken the City out of this portion of the lease and in addition to owning and operating the property, CATA will be responsible for leasing the office building. 2) The PSD Ordinance was passed several weeks ago and the Mayor has recommended the Pat Cook be appointed to the PSD Board. The vote by Lansing City Council on the appointment will take place on Monday, October 7, 1996. 3) The Mayor has recommended Paula Cunningham, Director of Public Information at LCC, to replace Val Moeller on the EDC/TIFA Board. A vote by the Lansing City Council on Paula's appointment should take place before the November Board Meeting. Public Comment None. Adjournment Chair Hollister declared the meeting adjourned at 4:55 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager Economic Development Corporation of the City of Lansing Board of Director's Meeting Mayor's Conference Room Ninth Floor, Lansing City Hall Wednesday, November 6, 1996 4:00 P.M. Members Present: Kim Coleman; Paula Cunningham; David Hollister; William Long; John Petroff; William Porter, Jr.; Joseph Reid Members Absent: Paul Novak; Joseph Pandy Temporary Members Present: Ed Carpenter; Jan Hayhow Staff Present: Patricia Cook; Barbara Foreman; Dennis Sykes; Peggy Vaughn Guests Present: Dwight Ebaugh; Charlie Hawes; Steve Kutas, Jr.; Kester So Chair Hollister called the meeting to order at 4:15 p.m. 1) Approval of the Board of Director's Meeting Minutes from October 2, 1996 Motion: William Long motioned the Board to approve the October 2, 1996 Meeting Minutes as presented and place them on file. Joseph Reid seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC FY'95/96 "Draft" Audit Motion: William Long motioned the Board to approve as presented and place on file the FY'95/96 "Draft" Audit, which was prepared by Kutas Hawes Wolcott & Bergman PC. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. At this time Chair Hollister welcomed Paula Cunningham to the EDC Board. 3) EDC Financial Statements - July & August'96 Chair Hollister asked that the Board receive and place on file the EDC Financial Statements (July & August'96) as presented. Yeas: Unanimous. Motion carried. 4) EDC B.F.A.P. Projects a) Projects Status Update & Analysis of Program Loan Funds (Oct. 31, '96) The Board received a copy of the Projects Status Update and Analysis of Program Loan Funds dated October 31, 1996, which was prepared by Peggy Vaughn. b) Hobie's Project - Phase II Loan Request The Board received a copy of a letter from Ernie St. Pierre (owner of Hobie's Downtown) requesting $10,000 from his $50,000 Phase II loan funds to pay off the existing debt of Phase I activities. Ernie mentioned in the letter that he is not going to pursue Phase II at this time and realizes that he will be relinquishing the remaining $40,000 of E.D.C. loan funds committed for Phase H. Motion: Joseph Reid motioned the Board to approve Ernie St. Pierre's request as presented. John Petroff seconded the motion. Yeas: Unanimous. Motion carried. c) Quest 5, Ltd. - Gary Simon's request collateral amendment Peggy Vaughn stated that Gary Simons, President of Quest 5, Ltd., is preparing to add a large addition onto his personal residence. Peggy further stated that Republic Bank has agreed to pay off Mr. Simon's existing mortgage of $6,460.00 and lend him up to $58,540 for the addition. Republic Bank is requesting that the EDC agree to a subordination agreement that would put the EDC in a second position behind their $65,000 loan. Peggy mentioned the following EDC staff suggestions for approval of the request: 1. The EDC agree to subordinate their position behind the new bank mortgage in an amount not to exceed $65,000; 2. The Simon's provide the EDC with a copy of the architectural plans and estimated construction costs for the addition to their personal residence; 3. The Simon's provide us with an updated appraisal that must show a minimum value to the home of $149,000; 4. The Simon's agree to pay for the updated appraisal (to be completed after the construction is complete); 5. The Simons' agree to pay all EDC legal fees associated with their amendment request. Joe Reid suggested that EDC request that a title company or a bank be the loan disbursement agent. Motion: Joe Reid motioned the Board to approve Gary Simon's request with any EDC staff recommendations they consider necessary to protect the EDC's investment. William Long seconded the motion. Yeas: Unanimous. Motion carried. d) Rork House Redevelopment - Pre Application Peggy Vaughn informed the Board that staff is in the process of reviewing the pre - application and anticipate that the full application and project plan will come before the EDC Board at the December Board Meeting. The applicant is proposing to renovate the building located at 206 E. Grand River Ave. in Old Town and is requesting $51,750 in EDC loan funds. e) Elbinger Laboratories, Inc. - Loan modification request After a brief explanation of the Elbinger loan modification request (provided by Patricia Cook) Joe Reid moved to go into Executive Session to discuss the written opinion of Counsel regarding the Elbinger project matter. Yeas: Coleman; Cunningham; Hollister; Long; Petroff; Porter; Reid; Carpenter; Hayhow * The Board entered into Executive Session at 4:50 p.m. * Kim Coleman was excused from the Executive Session at 5:00 p.m. due to another commitment. * The Board ended their Executive Session at 5:25 p.m. 5) EDC Bond Financing Project - Quality Dairy Company Project Plan Motion: John Petroff motioned the Board to approve an extension for filing with the Department of Treasury a request for allocation in 1997 to finance the Quality Dairy Company Project. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. Motion: Joe Reid motioned the Board to approve the Resolution Recommending the Project Plan as presented. William Long seconded the motion. Yeas: Unanimous. Motion carried. 6) Other Business a) Microenterprise Loan Fund Guaranty Agreement Motion: William Long motioned the Board to approve the Microenterprise Loan Fund Guaranty Agreement as presented. William Porter, Jr. seconded the motion. Yeas: Cunningham; Hollister; Long; Petroff; Porter Nays: Reid Motion carried. b) EDC Legal Expenses - re: Jones litigation Pat Cook informed the Board that the EDC received a bill from Dickinson Wright in the amount of $2,400, which revolves around litigation involving a slip and fall on property adjacent to the Business & Trade Center. The litigation names the City of Lansing, the Business & Trade Center and the EDC. Pat mentioned that the $2,400 . additional cost was not included the EDC FY '96/97 Budget. c) The Venture Center, Inc. - Future Strategy The Board received a copy outlining a meeting that took place on October 9, 1996 with Mayor Hollister, Dennis Sykes, Pat Cook & Brad Shaw. d) New EDC Employee Position Pat Cook stated the EDC will be hiring a new employee in the very near future. The position will be full time with specific responsibilities relating to Industrial Tax Abatements and Neighborhood Enterprise Zones/Residential Tax Abatements. Pat further stated that interviews for the position may begin later this month. e) Other projects update: NEZ, GLHEC, Renaissance Zone Application No discussion at this time. 7) Public Comment None. 8) Adjournment Chair Hollister declared the meeting adjourned at 5:45 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager Economic Development Corporation of the City of Lansing Board of Director's Meeting Mayor's Conference Room Ninth Floor, Lansing City Hall Wednesday, December 4, 1996 4:00 P.M. i '( Members Present: Kim Coleman; Paula Cunningham; David Hollister; William Long; Joseph Pandy; John Petroff; William Porter, Jr.; Members Absent: Paul Novak; Joseph Reid Temporary Members Present: Ed Carpenter; Jan Hayhow Staff Present: Patricia Cook; Barbara Foreman; Peggy Vaughn Guests Present: None Chair Hollister called the meeting to order at 4:10 p.m. 1) Approval of the Board of Directors Meeting Minutes from November 6, 1996 Motion: William Long motioned the Board to approve the November 6, 1996 Meeting Minutes as presented and place them on file. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. 2) EDC Financial Statements - September & October, 1996 Motion: John Petroff motioned the Board to approve the EDC Financial Statements (September & October, 1996) as presented and place them on file. William Porter, Jr. seconded the motion. Yeas: Unanimous. Motion carried. Kim Coleman and Joseph Pandy entered the meeting at 4:20 p.m. 3) EDC B.F.A.P. Projects - a) Projects Status Update & Analysis of Program Loan Funds (Nov. 30) The Board received a copy of the Projects Status Update and Analysis of Program Loan Funds dated November 30, 1996, which was prepared by Peggy Vaughn. b) Rork House Redevelopment - Pre application update Peggy Vaughn informed .the Board that a letter had been drafted to Richard Karp requesting additional information needed in order to proceed with his application. c) Elbinger Laboratories, Inc. - Loan modification request update Pat Cook mentioned to the Board that EDC staff is continuing to work with Doug Elbinger regarding his loan modification request and a recommendation to the Board should be forthcoming at the January Board Meeting. 4) Other Business a) Greater Lansing Health Education Coalition - Year End Report (8/96) The Board received a copy of the Greater Lansing Health Education Coalition Year End Report, which was prepared by Marc Cory, GLHEC Project Coordinator. 5) Public Comment None. 6) Adjournment Chair Hollister declared the meeting adjourned at 4:50 p.m. Minutes by B. Foreman Patricia A. Cook EDC Manager