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Home My WebLink About2002 LBRA minutesMembers Present: Members Absent: Temporary EDC Members Present: Staff Present: Guests Present: 1) Call To Order Brownfield Redevelopment Authority of the City of Lansing Board of Director's Meeting Mayor's Conference Room Ninth Floor, Lansing City Hall Wednesday, February 6, 2002 4:45 P.M. Ann Brazeau; William Cook; David Hollister; William Long; Larry Meyer; Jeff Williams James Butler; Kim Coleman; Paula Cunningham Ed Carpenter; Jan Hayhow Patricia Cook; Barbara Foreman; Tracy Carney -Miller; Marchelle Smith None Chair Long called the meeting to order at 4:36 p.m. 2) Approval of the Board of Director's Meeting Minutes from December 5, 2001 Motion - Ann Brazeau motioned the Board to approve the Board of Director's Meeting Minutes from December 5, 2001 as presented and place them on file. David Hollister seconded the motion. Yeas: Unanimous. Motion carried. 3) Election of LBRA Board Officers Motion - William Long motioned the Board to approve the following slate of officers through December 31, 2002: Jeff Williams - Chair Kim Coleman - Vice -Chair Paula Cunningham - Secretary Ann Brazeau - Treasurer Ann Brazeau seconded the motion. Yeas: Unanimous. Motion carried. 4) Financial Statements a) Through December, 2001 The Board unanimously agreed to receive and place on file the Financial Statements through December, 2001 as presented. Jeff Williams expressed some concern about some of the EDC, TIFA & LBRA bank accounts with regard to the amount that each account is insured. Chair Long asked EDC staff to follow up with the various banks regarding this matter and report back to the Board at the next board meeting. 5) Brownfield Plans 1) LBRA Plan #10 - Neogen Corporation Tracy Carney -Miller informed the Board that Neogen Corporation plans to purchase the property at 703 & 720 E. Shiawassee Street and convert the buildings into manufacturing space for their diagnostic test kits and to integrate future acquisitions of related product lines. Motion - Ann Brazeau motioned the Board to approve the Resolution approving the LBRA Plan #10 - Neogen Corpoation as presented. William Cook seconded the motion. Yeas: Unanimous. Motion carried. 2) LBRA Plan #11 - Krentel Building Tracy Carney -Miller informed the Board that NeoPhase Development plans to invest approximately $1 million dollars in the purchase and completion of redevelopment activities on the property located at 1000-1006 S. Washington Avenue. The Project will create office space and possibly loft housing. Motion - David Hollister motioned the Board to approve the Resolution approving the LBRA Plan #11 - Krentel Building as presented. Jeff Williams seconded the motion. Yeas: Unanimous. Motion carried. 6) Other Business None. 7) Public Comments None. 8) Adjournment Chair Long declared the meeting adjourned at 5:04 p.m. Minutes by B. Foreman QCt r c,k GL &4--145 Patricia A. Cook EDC/TIFA Manager Members Present Members Absent Temporary EDC Members Present: Staff Present: Guests Present: 1) Call to Order Tax Increment Finance Authority of the City of Lansing Board of Director's Meeting Mayor's Conference Room Ninth Floor, Lansing City Hall Wednesday, June 5, 2002 4:30 P.M. James Butler; William Cook; David Hollister; William Long; Larry Meyer; Jeff Williams Ann Brazeau; Kim Coleman; Paula Cunningham Ed Carpenter; Jan Hayhow Patricia Cook; Karl Dorshimer; Barbara Foreman; Tracy Carney -Miller; Marchelle Smith None Chair Williams called the meeting to order at 5:01 p.m. 2) Approval of the Board of Director's Meeting Minutes from April 3, 2002 Motion - David Hollister motioned the Board to approve the Board of Director's Meeting Minutes from April 3, 2002 as presented and place them on file. William Long seconded the motion. Yeas: 3) Financial Statements A) Through April, 2002 Unanimous. Motion carried. Motion - Larry Meyer motioned the Board to approve the Financial Statements through April, 2002 as presented and place them on file. William Cook seconded the motion. Yeas: Unanimous. Motion carried. 4) Other Business A) Lansing Center Expansion Funding Analysis - Update Patricia Cook informed the Board that a "draft" report regarding the Lansing Center Expansion Funding should be completed before the August Board Meeting. 5) Public Comments None. 6) Adjournment Chair Williams declared the meeting adjourned at 5:10 p.m. Minutes by B. Foreman — (24 t.;,, 4. Patricia A. Cook TIFA Manager Members Present: Members Absent Temporary EDC Members Present: Staff Present: Guests Present: 1) Call to Order Tax Increment Finance Authority of the City of Lansing Board of Director's Meeting Mayor's Conference Room Ninth Floor, Lansing City Hall Wednesday, September 4, 2002 4:15 P.M. Ann Brazeau; James Butler; William Cook; Larry Meyer; Jeff Williams Kim Coleman; Paula Cunningham; David Hollister; William Long Jan Hayhow Patricia Cook; Karl Dorshimer; Barbara Foreman; Tracy Carney -Miller None Chair Williams called the meeting to order at 5:01 p.m. 2) Approval of the Board of Director's Meeting Minutes from June 5, 2002 Motion - James Butler motioned the Board to approve the Board of Director's Meeting Minutes from June 5, 2002 as presented and place them on file. Larry Meyer seconded the motion. Yeas: 3) Financial Statement Unanimous. Motion carried. A) "FY O1/02 Draft Audit" Motion - James Butler motioned the Board to approve the amendments to the FY02 budget on page 18 of the TIFA Audit in the amounts of $2192 $ $3159 as presented. Ami Brazeau seconded the motion. Yeas: Unanimous. Motion carried. Motion - Ann Brazeau motioned the Board to receive the TIFA "Draft" Audit FY 01/02 as presented. Larry Meyer seconded the motion. Yeas: Unanimous. Motion carried. 4) Public Comments None. 5) Adjournment Chair Williams declared the meeting adjourned at 5:04 p.m. Minutes by B. Foreman Patricia A. Cook TIFA Manager Members Present: Members Absent: Temporary EDC Members Present: Staff Present: Guests Present: 1) Call to Order Tax Increment Finance Authority of the City of Lansing Board of Director's Meeting Mayor's Conference Room Ninth Floor, Lansing City Hall Wednesday, November 6, 2002 4:30 P.M. Ann Brazeau; Kim Coleman; William Cook; David Hollister; William Long; Larry Meyer; Jeff Williams James Butler; Paula Cunningham Jan Hayhow Patricia Cook; Karl Dorshimer; Barbara Foreman; Tracy Carney -Miller; Marchelle Smith None Chair Williams called the meeting to order at 4:41 p.m. 2) Approval of the Board of Director's Meeting Minutes from September 4, 2002 Motion - Larry Meyer motioned the Board to approve the Board of Director's Meeting Minutes from September 4, 2002 as presented and place them on file. David Hollister seconded the motion. Yeas: 3) Financial Statements Unanimous. Motion carried. A) July thru September, `02 Motion - Kim Coleman motioned the Board to receive and place on file the Financial Statements (July thru September, `02). William Long seconded the motion. Yeas: Unanimous. Motion carried. 4) Public Comment None. 5) Adjournment Chair Williams declared the meeting adjourned at 4:45 p.m. Minutes by B. Foreman aR fu � Q - 6-0 Patricia A. Cook TIFA Manager Members Present: Members Absent: Temporary EDC Members Present: Staff Present: Staff Absent: Guests Present: 1) Call to Order Tax Increment Finance Authority of the City of Lansing Special Board of Director's Meeting Mayor's Conference Room Ninth Floor, Lansing City Hall Tuesday, December 17, 2002 4:15 P.M. Ann Brazeau; Kim Coleman; William Cook; David Hollister; William Long; Jeff Williams James Butler; Paula Cunningham; Larry Meyer None Patricia Cook; Barbara Foreman Karl Dorshimer; Tracy Carney -Miller; Marchelle Smith None Chair Williams called the meeting to order at 4:36 p.m. 2) Approval of the Board of Director's Meeting Minutes from November 6, 2002 Motion - David Hollister motioned the Board to receive and place on file the Board of Director's Meeting Minutes from November 6, 2002 as presented. Ann Brazeau seconded the motion. Yeas: 3) Financial Statement A) October, 2002 Unanimous. Motion carried. Motion - Kim Coleman motioned the Board to receive and place on file the Financial Statement (October, 2002) as presented. David Hollister seconded the motion. Yeas: Unanimous. Motion carried. 4) Contract of Lease Between City and TIFA - Substitution of Property Patricia Cook stated that in 1994 when the TIFA was working with the City to extend the financing for the Lansing Center, the TIFA did a refinancing to extend the debt out for more years than what was originally done in the 1992 Lansing Center bond issue. The TIFA also entered into a Contract of Lease with the City, which provided for the TIFA to make bi-annual payments to the City so that the City could go ahead and underwrite some of its' existing parking system and other debt related to downtown development. In order for the Contract to be realized the City went ahead, without virtue of a deed, but through the Contract of Lease, gave to the TIFA certain properties that had a historical value that were equal to what TIFA's payments under the Contract would be to the City over a period of years. The properties were the Triangle Site located on the corner of Kalamazoo and Grand, the parking ramp north of the State Tower and the parking ramp adjacent to the Radisson. The historical value of these three properties were significantly more than what the TIFA would have paid the City and the lease runs until the year 2020. The Contract also provided that if the City needed to go ahead and use or sell off any of those properties it would replace propor- tionately to the TIFA something historical of equal or greater value. The proposed development on the Triangle Site would house the joint headquarters for Military Affairs and the Michigan State Police. Pat further stated that the Resolution for Board approval authorizes the release of the Triangle Site to the City and a substitution of two additional properties. The properties must be within the boundaries of the TIFA and the proposed substituted properties are the North Capitol Ramp on the corner of Capitol and Shiawassee and the South Capitol Ramp on S. Capitol and Kalamazoo. These two properties do have a historical value that is significantly larger than the property value of the Triangle Site. Currently the historical value of the Triangle Site is approximately $5.5 million, whereas the S. Capitol Ramp and the N. Capitol Ramp combined have a value of $7 million. The finance Director has certified the transaction through a Resolution approved by City Council on December 16, 2002 A final survey for the two substituted properties has been completed by the Transporta- tion Dept. A final opinion of the City Attorney is needed to complete the process. Motion - Bill Cook motioned.the Board to adopt the Resolution authorizing the release and substitution of property in accordance with the Contract of Lease between the City and TIFA. Bill Long seconded the motion. Yeas: Unanimous. Motion carried. 5) Public Comment None. 6) Adjournment Chair Williams declared the meeting adjourned at 4:47 p.m. Minutes by B. Foreman 0,4 t.Q - Patricia A. Cook TIFA Manager