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HomeMy WebLinkAbout2011 LEDC minutesLansing Economic Development Corporation Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, January 7, 2011 7:45 a.m. Members Present: James Butler, Bo Garcia, Calvin Jones, Kelly Rossman-McKinney, Greg Ward Members Absent: Mayor Bernero, Kim Coleman, Brian Jeffries Staff Present: Karl Dorshimer, Andrea Ragan, Marchelle Smith, Ken Szymusiak, Bob Trezise Guests: None Public Present: None Call to Order Chair Bo Garcia called the meeting to order at 7:45 a.m. 2011 Election of Board Officers The following individuals have been elected as Board Officers for a term of one year effective January 7, 2011: Greg Ward, Chair Calvin Jones, Vice Chair James Butler, Secretary Kelly Rossman-McKinney, Treasurer It was recommended by the Board that at the end of a Board Chair's term, they receive an acknowledgement of service plaque. New Board Chair, Greg Ward, will take action to initiate. Motion: Kelly Rossman-McKinney moved the Board to approve the election of Board Officers. Motion seconded by James Butler. Yeas: Unanimous. Motion carried. Approval of Meeting Minutes from December 3, 2010 Regular Board Meeting Motion: Calvin Jones moved the Board to approve the meeting minutes from the December 3, 2010 regular Board of Director's meeting and place them on file. Motion seconded by Kelly Rossman-McKinney. Yeas: Unanimous. Motion carried. Financial Statements November 30, 2010 Motion: Kelly Rossman-McKinney moved the Board to receive the November 30, 2010 financial statements and place them on file. Motion seconded by James Butler. Yeas: Unanimous. Motion carried. Update on New LEDC Micro Loan Program Bob Trezise wanted to clarify that, at the last Board meeting, the resolution for the LEDC micro loan was in the amount of $175,000. The Board concurred they understood that this amount was correctly stated. EB -5 Board Update Bob Trezise stated that we are the only geographic municipality -owned EB -5 in the state. EB -5 Board meetings will be reported to the LEDC Board each month. Ken Szymusiak reported that their first board meeting will be held in two weeks. He has made connections with a Canadian investment firm interested in working with the EB -5 program. It is expected that things could progress within the next few months. Funds could be used on potential projects such as the Combined Sewer Overflow projects. Business Incubator Update Ken Szymusiak reported that we have been awarded $100,000 incubator grant from the MEDC. The grant is to be shared with the Technology Innovation Center in East Lansing to be used to sustain their incubator. The LEDC plans to use funds for a prototyping program. Other Business Bob Trezise reported that our Board terms were not reconciling with the terms in the City Clerk's office. The By-laws have historically stated six-year terms and suggests that Board terms be changed to three years. A By-law change will be brought before the Board next month for approval. In addition, there historically has been a City Council member appointment on the LEDC Board. The City Attorney has provided an opinion that, under State Statute, the Mayor is CEO and makes nomination of Board members for City Council approval. Bob stated his desire is to continue to have a Council liaison on the Board, but that it is up to the Mayor. Regardless, it must be done legally. Bob Trezize gave an update on the City's budget shortfall for the upcoming fiscal year. Historically, the LEDC has taken significant cuts of up to 37%. Bob will be submitting a preliminary budget in late January to the City. Adjournment Chair, Greg Ward declared the meeting adjourned at 8:25 a.m. Motion: Kelly Rossman-McKinney moved the Board to adjourn the meeting at 8:25 a.m. Seconded by Calvin Jones. Yeas: Unanimous. Motion carried. Minutes by M. Smith Robert L. Trezise',/Jr., President & CEO Lansing Economic Development Corporation Special Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Tuesday, February 15, 2011 7:30 a.m. Members Present: James Butler, Kim Coleman, Calvin Jones, Kelly Rossman- McKinney, Greg Ward Members Absent: Mayor Bernero, Bo Garcia Staff Present: Andrea Ragan, Marchelle Smith, Bob Trezise Guests: None Public Present: None Call to Order = Chair Greg Ward called the meeting to order at 7:55 a.m. Resolution to Approve LEDC Budget Amendment for Fiscal Year 2010/2011 Bob Trezise reported the LEDC budgeted for six full-time salary positions in its 2010/2011 budget. One position has remained vacant since Brian Anderson's departure. We are recommending that the budget be amended by allocating $45,000 - from the salary expenditure account to the miscellaneous expenditure account: Motion: Kelly Rossman McKinney moved the Board to approve the resolution amending the budget by allocating $45,000 from the salary expenditure account to the miscellaneous expenditure account and place it on file. Motion seconded by James Butler. Yeas: Unanimous. Motion carried. The Board recommended a separate resolution be presented to the Board at the next meeting approving recruitment costs of up to $25,000 out of the $45,000. Motion: Kim Coleman moved the Board to have a separate resolution presented at the next meeting approving recruitment costs of up to $25,000 and to include language regarding the EB -5 program. Motion seconded by Kelly Rossman-McKinney. Yeas: Unanimous. Motion carried. Adjournment Chair Greg Ward declared the meeting adjournecj--at 8:15 a.m. Minutes by M. Smith \ I" J Robert 11. Tr zise, 'Jr ,/?ylesident &, CEO Lansing Economic Development Corporation Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, May 6, 2011 7:45 a.m. Members Present: Mayor Bernero, Kim Coleman, Bo Garcia, Calvin Jones, Kelly Rossman-McKinney, Greg Ward Members Absent: James Butler Staff Present: Karl Dorshimer, Paul Holland, Andrea Ragan, Marchelle Smith, Ken Szymusiak, Bob Trezise Guests: None `. Public Present: None C-) Call to Order Chair Greg Ward called the meeting to order at 8:20 a.m. Approval of Meeting Minutes from January 7, 2011 Regular Board Meeting Motion: Kelly Rossman-McKinney moved the Board to approve the meeting minutes from the January 7, 2011 regular Board of Director's meeting and place them on file. Motion seconded by Calvin Jones. Yeas: Unanimous. Motion carried. Approval of Meeting Minutes February 15, 2011 Special Board Meeting Motion: Kelly Rossman-McKinney moved the Board to approve the meeting minutes from the February 15, 2011 special Board of Director's meeting and place them on file. Motion seconded by Calvin Jones. Yeas: Unanimous. Motion carried. Financial Statements March 31, 2010 Motion: Kelly Rossman-McKinney moved the Board to receive the March 31, 2011 financial statements and place them on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. UDAG Report as of March 31, 2011 Bob Trezise noted that Kris Elliott has asked if we would consider exchanging collateral on the Ann Street, East Lansing property he has held on the first Troppo loan. He has not yet submitted any details of the proposed new collateral. Resolution to Approve Business Recruitment Costs At the last Board meeting, it was recommended that a separate resolution be approved allocating $25,000 out of the $45,000 budget transfer from salary expenditure to miscellaneous expenditure to be used for business recruitment efforts. Motion: Kelly Rossman-McKinney moved the Board to approve resolution to allocate $25,000 to be used for business recruitment efforts. Seconded by Calvin Jones. Yeas: Unanimous. Motion carried. Resolution to 2010/2011 Budget Amendment for Michigan Strategic Fund Grant Bob Trezise reported that the LEDC was awarded a Michigan Strategic Fund Business Incubator Grant in the amount of $100,000 to be shared in half with the Technology Innovation Center in East Lansing through the Lansing Regional SmartZone. The LEDC will expend $50,000 towards the development of a rapid prototyping development for its business incubator. Motion: Calvin Jones moved the Board to approve resolution to amend the 2010/2011 budget for the Michigan Strategic Fund Grant in the amount of $100,000 and place it on file. Seconded by Kim Coleman. Yeas: Unanimous. Motion carried. 2011/2112 Budget Bob Trezise presented the fiscal year 2011/2012 budget. Motion: Calvin Jones moved the Board to approve the 2011/2012 budget and place it on file. Seconded by Bo Garcia. Yeas: Unanimous. Motion carried. Review of MEDC New Incentive Guidelines Discussion Bob reported that he has interacted with Mike Finney and his staff to discuss tax incentives. Other Business Chair Greg Ward presented Kim Coleman and Bo Garcia with an award in recognition of their previous service as Board Chairs. Public Comment None Adjournment Chair, Greg Ward declared the meeting adjou �' ed ht 9:05 a.m. Minutes by M. Smith Robeh L. Trez1se,,4e, President & CEO Lansing Economic Development Corporation Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, August 5, 2011 7:45 a. m. Members Present: Kiln Coleman, Bo Garcia, Calvin Jones, Pierre LaVoie, Kelly Rossman-McKinney Members Absent: Mayor Bernero, James Butler, Greg Ward Staff Present: Karl Dorshimer, Andrea Ragan, Marchelle Smith, Ken Szymusiak, Bob Trezise Guests: None Public Present: None Call to Order Vice Chair Calvin Jones called the meeting to order at 8:45 a.m, Pierre; -.LaVoie was introduced as a new Board member. Approval of Meeting Minutes from May 6, 2011 Regular Board Meeting "-. to rl Motion: Kelly Rossman-McKinney moved the Board to approve the meeting �tiinut6s from the May 6, 2011 regular Board of Director's meeting and place t3ctem;-ori file. Motion seconded by Bo Garcia. Yeas: Unanimous. Motion carried. Financial Statements June 30, 2011 Motion: Kelly Rossman-McKinney moved financial statements and place Coleman. ...... ......... .. ....... Yeas: Unanimous. Motion carried. the Board to receive the June 30, 2011 them on file. Motion seconded by Kim Resolution Authorizing Transfer of $25,975 Fund Balance for Business Incubator Prototype Printer Bob Trezise outlined the details of the resolution requesting transfer of $25,975 from UDAG funds allocated for the .LEDC's business incubator. He expressed that we wanted our business incubator to be different than that of East Lansing's Technology Innovation Center by having a 3-D Prototype printer that can actually make prototypes from ideas by both start up and existing businesses. This could potentially be a revenue source by charging a fee for those interested in utilizing the equipment that are not start ups in the LEDC's business incubator. Motion: Kelly Rossman-McKinney moved the Board to approve resolution to transfer $25,975 from UDAG funds allocated for the LEDC's business incubator and place it on file. Seconded by Bo Garcia. Yeas: Unanimous. Motion carried. Budget Amendment Resolution for Banner Program Andrea Ragan outlined the details of the resolution requesting that the 2010/2011 budget be amended to reflect $3,000 revenue and expenses that were incurred May and June 2011 and. the 2011/2012 budget be amended to reflect $10,000 anticipated revenue and expenses for the city's Banner Program. This program is merely a pass through in the LEDC budget. Motion: Kelly Rossman-McKinney moved the Board to approve resolution to amend the 2010/2011 budget to reflect $3,000 revenue and expense and to amend the 2011/2012 budget to reflect $ 10,000 anticipated revenue and expense and place it on file. Seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Bond Issuer's Fee Discussion Bob Trezise gave an overview of a written Summary that was previously provided to the Board regarding Atrium Office Partner's Issuer's Fees, The Board recommended that they pass a friendly resolution to move that the LEDC do nothing based on the information received from legal counsel as it would be cost prohibitive to pursue legal action. Motion: Kelly Rossman-McKinney moved the Board to approve resolution that the LEDC do nothing based on the information received from legal counsel as it would be cost prohibitive to pursue legal action and place it on file. Seconded by Kim Coleman. Yeas: Unanimous. Motion carried. LEDC Micro Loan Program Update Ken Szymusiak gave a brief overview on the status of the LEDC's Micro Loan. Program. All applicants will be required to go to the Small Business Technology & Development Center for business counseling before loans are brought before the LEDC's loan committee. LEDC Loan Committee Appointees To help make better loan decisions, the LEDC requested that the following persons be appointed to the LEDC's new Loan Committee: Julian Darden, Pierre LaVoie, Mike Pattwell and Marchelle Smith. In addition, Julian Darden was nominated and appointed on the LEDC Board of Directors as a temporary loan board member replacing Tim Murphy. Motion: Kim Coleman moved the Board to approve the appointment of Julian Darden, Pierre LaVoie, Mike Pattwell and Marchelle Smith to the LEDC's Loan Committee and further moved the Board to approve the appointment of Julian Darden as a temporary loan board member and place them on file. Seconded by Kelly Rossman-McKinney. Yeas: Unanimous. Motion carried. Unveiling of Verlinden Plans/Eco Tech Park Bob Trezise announced that the Board is the first to view the plans prepared by Studio Intrigue Architects on the proposed Eco Tech Park. A 3-D computerized schematic of what the sight would look like was presented by Ken Szymusiak, Red Cedar Golf Course Update Bob Trezise summarized details of the Red Cedar Golf Course project. A 3-D computerized schematic of what the finished project would look like was presented by Ken Szymusiak. Green Sense Farms Bob reported that an individual from Chicago would like to start ail organic farming operation in Lansing in the former Metro Ford site. The building needs significant costly improvements one of which is the roof. They would pay for the build out costs but would like the LEDC to buy the building. However, there are multiple factors to consider if the LEDC owns the building. This site, and the adjacent Tim Horton site, is a Brownfield and are currently capturing taxes clue to the Tim Horton improvements. We could also use EPA funds to assist with clean up costs. The Board concluded that they are supportive in pursuing this project. Other Business None Public Comment None Adjournment Vice Chair, Calvin Jones declared the meeting Minutes by M. Smith I Robert L. ned at 9:35 a.m. 4 ezise, Jr., ;' resident & CEO Lansing Economic Development Corporation Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, December 2, 2011 7:45 a.m.. Members Present: Kim Coleman, Bo Garcia, Calvin Jones, Pierre LaVoie, Kelly Rossman-McKinney, Greg Ward Members Absent: Mayor Bernero, James Butler Staff Present: Karl Dorshimer, Andrea Ragan, Marchelle Smith Guests: Teresa Choate and Stephen Blann (Rebmann Robson) Angie Bennett and Randy Endsley (City of Lansing Finance Dept.) Public Present: None t J Call to Order Chair, Greg Ward called the meeting to order at 7:50 a.m. t President's Report �, Karl Dorshimer reported on the Knapps project. City Council unanimously approved to receive Federal loan funds to help support the redevelopment project costs. -Intdf"or demolition is expected to occur immediately with completion expected in 2013. It was announced that Ken Szymusiak will be leaving the LEDC after the first of the year to join the new LEAP team. Draft Audited Financial Statements for the Fiscal Year Ending June 30, 2011 Stephen Blann from Rehmann Robson presented the draft of the audited financial statements for the fiscal year ending June 30, 2011. Angie Bennett and Randy Endsley from the City's Finance Department were present to answer questions. Motion: Kelly Rossman-McKinney moved the Board to approve the draft audited financial statements for the fiscal year ending June 30, 2011 and place them on file. Motion seconded by Bo Garcia. Yeas: Unanimous. Motion carried. Chair, Greg Ward called to suspend the LEDC meeting at 8:10 a.m. to take action on the Lansing Brownfield Redevelopment Authority's (LBRA) draft audited financial statements. Motion: Kelly Rossman-McKinney moved the Board to suspend the LEDC meeting to take action on the LBRA's draft audited financial statements. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Vice Chair, Calvin Jones recalled the meeting to order at 8:40. Approval of Meeting Minutes from November 4, 2011 Regular Board Meeting Motion: Bo Garcia moved the Board to approve the meeting minutes from the November 4, 2011 regular Board of Director's meeting and place them on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Financial Statements October 31, 2011 Motion: Kelly Rossman-McKinney moved the Board to receive the October 31, 2011 financial statements and place them on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. UDAG Report as of October 31, 2011 The October report reflects the payoff of the first Troppo loan payment. Question arose about what UDAG means. These were Urban Development Action Grant funds from HUD received for projects in the 1980's that are now being used as a revolving loan fund. It was suggested that the name be changed to Business Loan Funds to more accurately describe its current use. Other Business None Public Comment None Adjournment Vice Chair, Calvin Jones declared the meeting adjourned at 8:45 a.m. Minutes by Marchelle Smith v Karl Dorshimer, Interim President & CEO