The URL can be used to link to this page

Home My WebLink About2015 LEDC minutesLansing Economic Development Corporation Board of Director's Meeting Minutes Friday, January 9, 2015 8:00 a.m. LEAP Office 1000 S Washington Avenue, Suite #201, Lansing, MI 48910 Lansing, MI 48933 Members Present: Calvin Jones, Baldomero Garcia, Blake Johnson, Kevin O'Malley, Bo Garcia, Andrea Ragan, Pierre LaVoie, Kimberly Coleman Members Absent: Mayor Bernero, James Butler Temporary Members Present: None Staff Present: Karl Dorshimer, Marchelle Smith ; Guests: None N Public Present: None`? Recorded by: Tedi R. Parsons, LEAP; c c:) C) Call to Order Chair Jones welcomed everyone and called the meeting to order at 8:10 a.rn * r+ ; _ Cil Election of Officers Chair Jones introduced Garcia, who then presented the 2015 LEDC Board of Directors Officer Slate for approval. O'Malley thanked Chair Jones for his service in 2014 and presented four (4) ideas he would like addressed in 2015: 1) Board Member have and carry with them identification cards, 2) Create a blog that Board Members can sign - into and having impromptu meetings and communicate with one another, 3) receive agenda and board packets one-week prior to scheduled meetings, 4) Hold an Annual Dinner to raise monies for future projects. O'Malley proposed being Chair until May 1, 2015, when Jones would step-in as Chair for the remainder of the year. Chair Jones expressed his concerns in changing the term structure of the Board (Co -Chair position) and proposed we move forward with the election as presented by the Nominating Committee Chair. The votes were tallied and it was noted that five (6) votes were cast for Chair Jones and one (1) for O'Malley. Discussion ensued. Approval of LEDC Meeting Minutes - Friday, December 5, 2014 Motion: O'Malley moved to approve the meeting minutes from the Friday, December 5, 2014 LEDC Board of Director's meeting. Motion seconded by LaVoie. Yeas: Unanimous. Motion carried. 1 Financial Statements - Period Ending November 30, 2014 Smith provided an overview of the LEDC Financial Statements, period ending November 30, 2014. Discussion ensued. Motion: LaVoie moved to accept the LEDC Financial Statements, period ending November 30, 2014 as presented and place on file. Motion seconded by Johnson. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending November 30, 2014 Smith provided an update on the UDAG funds for the period ending November 30, 2014. She noted there were was no changes or any issues to present. 2014-2015 Budget Amendment Resolution and Runway Fashion Incubator (Update) Dorshimer introduced Quin Stinchfield and Jeff Smith, LEAP New Economy Division (NED), and provided a brief history of The Runway Fashion Incubator program overseen by the LEDC. Stinchfield provided an update on The Runway incubator noting that there are currently 21 tenants and the retail showroom is now open and fully -operational. She noted that there is $10,000 in sponsorships and rent is coming in as expected and the numbers are looking good. She advised that because of the late start-up date The Runway leases and sales commission revenues are running below projections. Thus there is the need to use $29,311 of the project reserves to cover part of The Runway's operational costs through June 31, 2015. LaVoie noted that the $29,311 has already been allocated to the Runway budget. Coleman inquired what areas of increasing funding are being looked at to make-up the shortfall by June 31, 2015. Stinchfield said there is a concentration on increasing the number of tenants and showroom sales. Smith provided an overview of the MEDC incubator grant request ($150,000), which was included in today's board packet. Motion: O'Malley moved to accept the Resolution for an amendment to the 2014- 201 LEDC budget as presented and place on file. Motion seconded by Ragan. Yeas: Unanimous. Motion carried. Overview of LEDC Programs and Incentives Dorshimer provided a brief overview of the EDC, LBRA and TIFA and their respective programs. Dorshimer provided a handout which outlined a summary of details for the three entities (LEDC, LBRA and TIFA). Update on Projects None. 2 Open Forum None Public Comment None. Adjournment There being no further business, Chair Jones declared the meeting adjourned at 9:35 a.m. J 9 Jf iJ/) ..moi '� m.g„"+'"'✓". Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) Lansing Economic Development Corporation Board of Director's Meeting Minutes Friday, April 10, 2015 8:00 a.m. Reo Town Train Depot - Lansing Board of Water and Light ILBWL) 1203 S Washington Avenue, Lansing, MI 48910 Members Present: Calvin Jones, Baldomero Garcia, Mayor Bernero, Pierre LaVoie, Kimberly Coleman Members Absent: James Butler, Kevin O'Malley, Andrea Ragan, Blake Johnson Temp Members Present: None t D Staff Present: Karl Dorshimer, Marchelle Smith Guests: Quin Stinchfield, LEAP Public Present: None =' ; Recorded by: Quin Stinchfield, LEAP Call to Order Chair Jones welcomed everyone and called the meeting to order at 8:16 a.m. Approval of LEDC Meeting Minutes - Friday, January 9, 2014 Motion: LaVoie moved to approve the meeting minutes from the Friday, January 9, 2015 LEDC Board of Director's meeting. Motion seconded by Bernero. Yeas: Unanimous. Motion carried. Financial Statements - Period Ending February 28, 2015 Smith provided an overview of the LEDC Financial Statements, period ending February 28, 2015. Discussion ensued. Motion: LaVoie moved to accept the LEDC Financial Statements, period ending February 28, 2015 as presented and place on file. Motion seconded by Coleman. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending February 28, 2015 Smith provided an update on the UDAG funds for the period ending February 28, 2015. Dorshimer said there may be a request coming before the Loan Committee from two doctors on the South side of Lansing who are looking at a securing a loan to purchase a new software program to help them be more efficient in the handling of their patients. He noted that they will be using their building as collateral for this loan. 1 Runway Fashion Incubator (Update) Dorshimer reintroduced Quin Stinchfield, Manager of Business Incubation, LEAP, who provided an update on The Runway Fashion Incubator. Stinchfield advised that they received $65,000 out of the $150,000 from the grant submitted to the MEDC recently. She noted the $65,000 from the MEDC grant will be used for programming. She provided an overview of the current talks taking place with Lansing Community College (LCC), who is interested in partnering with The Runway and possibly leasing space. Stinchfield noted that she has been in discussions with the Michigan Garment Industry Council (MGIC) on creating a partnership with them that will be a great asset to The Runway program. Stinchfield advised of the new Runway retail showroom hours. 2015 - 2016 LEDC Proposed Budget Dorshimer provided a brief overview of the 2015-2016 LEDC proposed budget for the board's approval. He noted that the Brownfield admin fees being collected continue to come in strong and the contract between LEAP and the City of Lansing is expected to be increased from $80,000 to $170,000, which will allow LEAP to bring on a new staff member for economic development projects in the City of Lansing. Motion: Coleman moved to accept the 2015-2016 LEDC proposed budget as presented. Motion seconded by LaVoie. Yeas: Unanimous. Motion carried. Update on Projects Dorshimer provided the following project updates: Outfield Proiect: This project is moving along and there was a ribbon cutting ceremony that took place on April 9, 2015 at the Cooley/Lugnuts stadium. Framing of the private Outfield Development portion will begin very soon after the signing on April 17, 2015. The entire project is estimated to come in very soon at $25 million dollars. Discussion on hosting a future LEDC meeting at the stadium when completed took place. Ottawa Butler: The plan for this project has been submitted to Lansing City Council for approval on Monday, April 13, 2015. David Ferguson purchased the property and the Michigan Broadcasters Association will be the tenant at this location. Estimated cost of the project is $15 million dollars. Red Cedar Development: Noted that this project is moving along with an anticipated ground -breaking in a year or so. Estimated cost of the project is over $200 million dollars. YMCA Proiect: Working with Dan Essa on getting his final financing secured before moving forward on this project. The old YMCA building needs to be demolished and have the asbestos removed. The financing for this project needs to go through HUD. 2 Casino Update: Mayor Bernero provided an update on the casino project noting that he recently was in D.C. to meet with the Under Secretary at the Department of the Interior to discuss the status of the Lansing development. Open Forum Dorshimer presented an overview of a loan from Dr. Eleanor Quay, His Healing Hands, who received a five-year, $25,000 loan from the EDC and is requesting a 15 - month extension (balance is currently $8,864, w/payments of $600 each month). Motion: Coleman moved to accept approving the loan extension for His Healing Hands as presented by the Loan Committee. Motion seconded by LaVoie. Yeas: Unanimous. Motion carried. Public Comment None. Adjournment There being no further business, Chair Jones declared the meeting adjourned at 9:25 a.m. KaPf Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3 Lansing Economic Development Corporation Board of Director's Meeting Minutes Friday, June 26, 2015 8:00 a.m. LEAP Office 1000 S Washington Avenue, Suite #201 Lansing, MI 48910 Members Present: Calvin Jones, Baldomero Garcia, Mayor Bernero, Pierre LaVoie, James Butler, Blake Johnson, Andrea Ragan Members Absent: Kimberly Coleman, Kevin O'Malley Temp Members Present: None , Staff Present: Karl Dorshimer, Marchelle Smith, Quin Stinehfiew,, Tony Willis () Guests: Steve Owen, Foster Swift _ C Public Present: None _ C� Recorded by: Karl Dorshimer, LEAP cn r-1 Call to Order c; -' Fri i N Chair Jones welcomed everyone and called the meeting to order at 8:03 a.m. 77 Approval of LEDC Meeting Minutes - Friday, April 10, 2015 Motion: Garcia moved to approve the meeting minutes from the Friday, April 10, 2015 LEDC Board of Director's meeting. Motion seconded by Johnson. Yeas: Unanimous. Motion carried. Financial Statements - Period Ending April 30, 2015 Smith provided an overview of the LEDC Financial Statements, period ending April 30, 2015. Discussion ensued. Motion: Johnson moved to accept the LEDC Financial Statements, period ending April 30, 2015 as presented and place on file. Motion seconded by Butler. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending February 28, 2015 Dorshimer provided an update on the UDAG funds for the period ending April 30, 2015. He noted that there were no changes of significance to report. Runway Fashion Incubator (Update) Dorshimer reintroduced Quin Stinchfield, Manager of Business Incubation, LEAP, who provided an update on The Runway Fashion Incubator. 1 Stinchfield provided an overview of the proposed CBRE contract, advising they are meeting with them in next few weeks to discuss the possible management of The Runway and TIC. She said a committee will be formed to review the contract when this is made available. Stinchfield also noted the recent confirmation of a partnership with the Michigan Garment Industry Council (MGIC), which will include office space in The Runway. Discussion ensued. 2015 - 2016 City of Lansing & LEDC Contract Dorshimer and Owen provided an overview of the 2015-2016 City of Lansing & LEDC contract advising they are presenting this today for the EDC Board's approval. Motion: Johnson moved to accept the 2015-2016 City of Lansing and LEDC as presented. Motion seconded by Garcia. Yeas: Unanimous. Motion carried. 2015 - 2016 LEDC & LEAP Contract Dorshimer and Owen provided an overview of the 2015-2016 LEDC & LEAP contract noting the following: Motion: Garcia moved to accept the 2015-2016 LEDC & LEAP contract as presented. Motion seconded by Ragan. Yeas: Unanimous. Motion carried. 3D Proto-Type Printer License Agreement 2015-2016 Willis provided an overview of the 3D Proto-Type printer license agreement (2015- 2016), noting this agreement is an annual agreement between LEAP and the LEDC, which details the policy and usage of the 3D Printer (Objet 120). Discussion ensued with no significant changes proposed for the current the agreement, except for the dates of the service agreement. Motion: LaVoie moved to accept the 2015-2016 3-D Proto-Type Printer License Agreement contract as presented. Motion seconded by Ragan. Yeas: Unanimous. Motion carried. Sale of Objet 260V 3-D Printer and Purchase of Roto -Cast Machine Willis provided an overview of the status of the Objet printer currently housed at the Technology Innovation Center (TIC). Willis recommended looking into selling the Objet printer due to recent malfunctions and rising repair costs coupled with how the technology has changed and what the current needs of our clients are. Discussion ensued. LEDC 2015 Year -End Report Due to time constraints, the LEDC 2015 Year -End Report will be presented at a future meeting. 2 Update on Projects Dorshimer provided the following project updates: Ambling Project Red Cedar Renaissance Project Bud Kouts Property Ottawa Butler Bill Snethkamp Chrysler Open Forum None. Public Comment None. Adjournment There being no further business, Chair Jones declared the meeting adjourned at 9:05 a.m. Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3 Lansing Economic Development Corporation Board of Director's Meeting Minutes Friday, August 7, 2015 8:00 a.m. LEAP Office 1000 S Washington Avenue, Suite #201 Lansing, MI 48910 Members Present: Members Absent: Temp Members Present: Staff Present: Guests: Public Present: Recorded by: Call to Order Calvin Jones, Blake Johnson, Pierre LaVoie, James Butler, Kimberly Coleman, Andrea Ragan Mayor Bernero, Kevin O'Malley, Baldomero Garcia None Karl Dorshimer, Marchelle Smith, Steve Willgbee, Quin Stinchfield, LEAP UJ cil None Quin Stinchfield, LEAP c,' N) C-. Chair Jones welcomed everyone and called the meeting to order at 8:07 a.m. i J Approval of LEDC Meeting Minutes - Friday, June 26, 2014 Motion: Butler moved to approve the meeting minutes from the Friday, June 26, 2015 LEDC Board of Director's meeting. Motion seconded by Johnson. Yeas: Unanimous. Motion carried. Financial Statements - Period Ending June 30, 2015 Smith provided an overview of the LEDC Financial Statements, period ending June 30, 2015. Smith provided an overview of the LEDC Balance Sheet and Profit and Loss Statement (year-end) Discussion ensued. Motion: LaVoie moved to accept the LEDC Financial Statements, period ending June 30, 2015 as presented and place on file. Motion seconded by Coleman. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending June 30, 2015 Smith provided an update on the UDAG funds for the period ending June 30, 2015. She noted there are no significant changes to the UDAG funds to report. Dorshimer noted that there may be an application loan, which will be upcoming that, if approved, would draw on UDAG funds. 1 Runway Fashion Incubator (Update) Dorshimer introduced Quin Stinchfield, Manager of Business Incubation, LEAP, who provided an update on The Runway Fashion Incubator. Stinchfield advised that they have been busy at work revamping The Runway, looking at what is working and what is not. She noted that the LEDC Runway Subcommittee met this week. Stinchfield advise that there will be changes to the tenant structure, including the addition of the Michigan Garment Council who will be a new tenant along with Lansing Community College (LCC), who will be an anchor tenant utilizing a large portion of the space. She advise the retail space will be closing and the showroom will remain active for designers to use to showcase their work. Stinchfield provided an overview of sponsorships (current and proposed asks). LaVoie noted that the board is excited about the news of LCC and the hard work that Stinchfield and LEAP is doing on The Runway incubator initiative. Stinchfield provided an overview of the contract with CBRE I Martin who will act as the management company for The Runway and Technology Innovation Center (TIC), in East Lansing, which LEAP manages. A handout of the CBRE I Martin Administrative Services Agreement was provided in the meeting packet. Smith provided an overview of The Runway Showroom financials, period ending June 30, 2015. She noted that these financials will consolidated into the upcoming LEDC audit. Motion: LaVoie moved that the LEDC does not move forward on conducting a separate audit on The Runway Showroom financials. Motion seconded by Coleman. Yeas: Unanimous. Motion carried. 2015 - 2016 LEDC Budget Amendment Dorshimer provided a Resolution to approve an amendment to the 2015-2016 LEDC Budget. Motion: Butler moved to accept the proposed 2015-2016 LEDC Budget Amendment as presented. Motion seconded by Johnson. Yeas: Unanimous. Motion carried. Update on Projects Dorshimer provided the following project updates: The Outfield: This project is moving along quickly. Framing is completed. SkvVue and Feldman Bud Kout Chevrolet: This large scale project (Brownfield) are both moving along and headed to City Council for approval. 2 Other Business None. Public Comment None. Adjournment There being no further business, Chair Jones declared the meeting adjourned at 8:55 a.m. r K 1 Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3 Lansing Economic Development Corporation Board of Director's Meeting Minutes Friday, November 6, 2015 8:00 a.m. The Runway - Knapp's Centre 300 S Washington Avenue, Suite #101 Lansing, MI 48933 Members Present: Members Absent: Temp Members Present: Staff Present: Guests: Public Present: Recorded by: Call to Order Calvin Jones, Blake Johnson, Pierre LaVoie, _ Kimberly Coleman, Andrea Ragan, Baldomero Garcia, e. .: U.' Mayor Bernero, James Butler, Kevin O'Malley C".) l None -- -- C"7 Karl Dorshimer, Marchelle Smith, Steve Willoliee, Gabriela Allum, Tony Willis, Quin Stinchfield r. Sagar Sheth, Moebius Technologies None FT.{ Tedi R. Parsons, LEAP Chair Jones welcomed everyone and called the meeting to order at 9:20 a.m. Welcome and Runway Incubator Update Dorshimer reintroduced Quin Stinchfield who welcomed everyone back to The Runway and provided the following incubator update: The Runway celebrated its 1St Anniversary on October 21, 2015 LCC is now an anchor tenant at The Runway (1 -year contract) Signed lease with the Michigan Garment Industry Council (MGIC) who will roll- out a Road to Retail program Dorshimer noted that from a financial standpoint, The Runway is doing well. The LEDC thanked Stinchfield for the great job she is doing managing this project. Sale Object 260V 3D Printer Dorshimer provided a brief history of the purchase of the Object 260V 3D printer, purchased by the LEDC approximately five -years ago. Willis provided an update on the sale of the Object 260V 3D printer, as discussed at the Friday, June 26, 2015, LEDC Board Meeting. He advised that the current 3D printer is outdated when it comes to technology and now is a good time to sell this printer. He advised that the 3D printer was listed on several sites for sale and noted that there is a current offer to sell for $10,000. He requested approval from the LEDC Board to move forward with the sale of the Objet 260V 3D printer for no less than $8,500, but will entertain higher offers if received. Smith advised that this printer was purchased for $75,000 at the time of sale. LaVoie noted that he feels that the LEDC should budget for the higher costs of maintaining a printer when purchasing equipment in the future. Discussion ensued. Motion: Ragan moved to accept and approve the sale of the Objet 260V 3D Printer, based on the sale price starting at $8,500, as presented by Willis. Motion seconded by Coleman. Yeas: Unanimous. Motion carried. Approval of LEDC Meeting Minutes - Friday, September 11, 2014 Motion: Coleman moved to approve the meeting minutes from the Friday, September 11, 2015 LEDC Board of Director's meeting. Motion seconded by Garcia. Yeas: Unanimous. Motion carried. Financial Statements - Period Ending September 30, 2015 Smith provided an overview of the LEDC Financial Statements, period ending September 30, 2015. Smith provided an overview of the LEDC Balance Sheet and Profit and Loss Statement. Discussion ensued. Motion: LaVoie moved to accept the LEDC Financial Statements, period ending September 30, 2015 as presented and place on file. Motion seconded by Ragan. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending September 30, 2015 Smith provided an overview/update on the UDAG funds for the period ending September 30, 2015. Discussion ensued. Loan Extension to Moebius Technologies Dorshimer provided an overview and update on a loan extension to Moebius Technologies noting the LEDC Loan Committee had reviewed the loan extension and approved it with certain conditions. Dorshimer introduced Sagar Sheth who is requesting an extension on their current loan balance ($113,136). He thanked the LEDC Board for their consideration and assistance in helping them through a challenging time. Smith noted that Moebius has done a great job in paying their loan payments on-time in the past. Discussion ensued. Motion: Coleman moved accept extending the loan to Moebius Technologies.. Motion seconded by Garcia. Yeas: Unanimous. Motion carried. Update on Projects None. 2 Other Business None. Public Comment None. Adjournment There being no further business, Chair Jones declared the meeting adjourned at 8:43 a.m. K7 1 Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) Lansing Economic Development Corporation Board of Director's Meeting Minutes Friday, December 11, 2015 8:00 a.m. LEAP Office 1000 S Washington Avenue, Suite #201 Lansing, MI 48910 Members Present: Members Absent: Temp Members Present: Staff Present: Guest(s): Public Present: Recorded by: Call to Order Calvin Jones, Blake Johnson, Pierre LaVoie, Kimberly Coleman, Andrea Ragan, James Butler Baldomero Garcia, Mayor Bernero, Kevin O'Malley None Karl Dorshimer, Marchelle Smith, Tedi Parsons Stephan Blann, Rehmann Robson None Gabriela Allum, LEAP Chair Jones welcomed everyone and called the meeting to order at 8:08 a.m. Approval of LEDC Audited Financial Statements - Period Ending June 30, 2015 Smith introduces Stephan Blann, Rehmann Robson, who provided an overview of the LEDC Audited Financial Statements for period ending June 30, 2015. The following points were made during his presentation. • Provided overview of Independent Auditor's Report • Provided overview of Statement of Activities, Year Ending June 30, 2015 • Provided overview of Internal Control and Compliance • Noted this was another clean audit, with no deficiencies found Motion: LaVoie moved to accept and approve the LEDC Audited Financial Statements, period ending June 30, 2015, as presented. Motion seconded by Coleman. Yeas: Unanimous. Motion carried. Adjournment Chair Jones declared the meeting adjourned at 8:16 a.m. Chair Jones re -adjourned the Lansing Economic Development Corporation Board of Director's Meeting at 8:26 a.m. 1 Approval of LEDC Meeting Minutes - Friday, November 6, 2015 Motion: Butler moved to approve the LEDC Meeting Minutes from the Friday, November 6, 2015 LEDC Board of Director's meeting. Motion seconded by LaVoie. Yeas: Unanimous. Motion carried. Financial Statements - Period Ending October 31, 2015 Smith provided an overview of the LEDC Financial Statements, period ending October 31, 2015. Smith made reference to the LEDC Balance Sheet and Profit and Loss Statement. Discussion ensued. Motion: Garcia moved to accept the LEDC Financial Statements, period ending October 31, 2015 as presented and place on file. Motion seconded by Coleman. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending October 31, 2015 Smith provided an overview /update on the UDAG funds for the period ending October 31, 2015, noting Summary of Runway Committed Funds. Discussion ensued. Election of LEDC/LBRA/TIFA Board of Directors 2016 Chair Jones introduced the 2016 LEDC/LBRA/TIFA Board of Directors Officer Slate. Chair Jones asked Parsons to unseal the envelope containing the official election ballot and provide each board member with a ballot for voting purposes. After the vote, Parsons collected the completed ballots and left the room to tabulate the results in private. Chair Jones asked Parsons to provide the results of the election. The following votes were cast for the 2016 LEDC Board of Directors: Chair: Pierre LaVoie Vice -Chair: James Butler, III Secretary: Andrea Ragan Treasurer: Christopher (Blake) Johnson Motion: LaVoie moved accept the 2016 LEDC/LBRA/TIFA Board of Directors Officer Slate, as presented. Motion seconded by Johnson. Yeas: Unanimous. Motion carried. Update on Projects Dorshimer provided the following updates: • Downtown Casino: project continue to move along • SkyVue: Project is moving along. Prep of the site will be starting soon. • Feldman's: Project has started and moving along • East Town Flats: Public Hearing Monday C ® Snethkamp: Public Hearing Monday ® Red Cedar: Project continue to move forward. Updates will continue to be provided. ® Under the Bridge: Moving along steadily. ® Former Racer Trust site: Parties still show interest in site Other Business Chair Jones expressed his gratitude to the LEDC Board of Directors for their continued committed service to both the City of Lansing and the region. Additionally, Chair Jones noted that it was an honor and privilege over the past two -years to serve as the Board Chair and looks forward to serving in a new capacity. Public Comment None. ,Adjournment There being no further business, Chair Jones declared the meeting adjourned at 9:07 a.m. Kxle�e 62"Z'_ Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 9