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Home My WebLink About2017 LEDC minutesLansing Economic Development Corporation Board of Director's Annual Meeting Minutes Friday, January 13, 2017 - 8:30 a.m. LEAP Office- Executive Boardroom 100 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 r "" Pierre LaVoie, Andrea Ragan, Shelley Davis, Calvin Jones, Blake Johnson, James Butler III, Baldomero Garcia, Kimberly Coleman Mayor Virg Bernero None Karl Dorshimer, Marchelle Smith, Eric Pratt, Kris Klein, Joe Carr Scott Gillespie, The Gillespie Company Lauren Martin, The Gillespie Company David Van Haaren, TriTerra Janet Michaluk, State of Michigan None Tedi R. Parsons, LEAP Chair LaVoie welcomed everyone and called the meeting to order at 8:32 a.m. Presentation by Denise Peek - Entrepreneur Institute of Mid -Michigan Dorshimer introduced Denise Peek, Executive Director, Entrepreneur Institute of Mid -Michigan, who provided an annual update on the $25,000 loan guaranty agreement from the LEDC. Discussion ensued. Motion: Jones moved to approve the Loan Guaranty Agreement between the City of Lansing/LEDC and Entrepreneur Institute of Mid - Michigan, as presented. Motion seconded by Butler. Yeas: Unanimous. Motion carried. Presentation by Joe Carr, The Runway Lansing Dorshimer introduced Joe Carr, Incubation Startup Manager, who provided a brief update of The Runway Lansing, noting the following: • October fashion show with partner LLC (over 110 attendees) • Next fashion show at The Runway set for February 9, 2017 • Signed four (4) new tenants • Recently signed venture capitalist from New York 1 LEDC board meeting adjourned at 8:42 AM LEDC board meeting called back to order at 9:33 AM Approval of LEDC Board Meeting Minutes - Friday, December 2, 2016 Motion: Johnson moved to approve the LEDC meeting minutes from the Friday, December 2, 2016 LEDC Board of Director's meeting. Motion seconded by Butler. Yeas: Unanimous. Motion carried. LEDC Financial Statements - Period Ending November 30, 2016 Smith provided an overview of the LEDC Financial Statements, period ending November 30, 2016. Discussion ensued. Motion: Butler moved to accept the LEDC Financial Statements, period ending November 30, 2016, as presented and place on file. Motion seconded by Ragan. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending November 30, 2016 Smith provided an overview/update on the UDAG funds for the period ending November 30, 2016. She noted there were no changes to report at this time. Project Updates Butler inquired about the status of the Red Cedar Renaissance Project. Dorshimer noted this large-scale continues to move forward and will provide an update at a future meeting. Other Business None presented. LEDC Board of Directors Election Chair LaVoie advised as this is the LEDC's Annual Meeting, the election of officers for 2017 will take place. He turned the floor over to Nomination Committee Chair, Ragan, who thanked everyone for their participation in the election of officers. Ragan asked Parsons to unseal the election ballots and provide to the board. Parsons handed out the ballots and tallied the results. 2 After discovering a clerical error was made to the original ballot, ballots were reprinted and distributed to all board members. The following Motions were made: Motion 1: Coleman moved to approve the 2017 LEDC Board of Directors Officer Slate as presented. Motion seconded by Jones. Yeas: Zero (0) Nays: Eight (8). Motion fails. Motion 2: Ragan moved to approve the amended 2017 LEDC Board of Directors Officer Slate as presented. Motion seconded by Coleman. Yeas: Unanimous. Motion carried. The following board members were elected to serve as officers on the 2017 LEDC Board of Directors: • Chair - Andrea Ragan • Vice -Chair - James Butler, III • Treasurer -Blake `Christopher' Johnson • Secretary - Pierre LaVoie Public Comment None. Adjournment There being no further business, Chair LaVoie declared the LEDC meeting adjourned at 9:57 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, February 3, 2017 - 8:30 a.m. LEAP Office- Executive Boardroom 100 S Washington Avenue, Suite #201 Lansing, MI 48910 Members Present: Pierre LaVoie, Andrea Ragan, Shelley Davis, Calvin Jones, Blake Johnson, James Butler III, Members Absent: Mayor Virg Bernero, Baldomero Garcia, Kimberly Coleman Temp Members Present: None Staff Present: Karl Dorshimer, Marchelle Smith, Eric Pratt, Kris Klein, Joe Carr Guests: Janet Michaluk, State of Michigan Public Present: None Recorded by: Tedi R. Parsons, LEAP Call to Order Chair Ragan welcomed everyone and called the meeting to order at 9:23 a.m. Approval of LEDC Board Meeting Minutes - Friday, January 13, 2017 Motion: Jones moved to approve the LEDC meeting minutes from the Friday, January 13, 2017 LEDC Board of Director's meeting. Motion seconded by Davis. Meas: Unanimous. Motion carried. LEDC Financial Statements - Period Ending December 31, 2016 Smith provided an overview of the LEDC Financial Statements, period ending December 31, 2016. She noted an amendment will be presented to the LEDC Board soon to approve changes to the budget. Discussion ensued. Motion: Jones moved to accept the LEDC Financial Statements, period ending December 31, 2016, as presented and place on file. Motion seconded by Davis. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending December 31, 2016 Smith provided an overview/update on the UDAG funds for the period ending December 31, 2016. She noted there were no changes to report at this time. 2017 3D Printer License Agreement Dorshimer introduced Joe Carr, LEAP, who provided an overview of the 2107 3D printer license agreement noting that $159 dollars was received for two jobs completed in 2016. Can noted that he would continue to try to sell the 3D printer and will provided future updates. Dorshimer provided an overview of the 3D Printer License Agreement being presented to the LEDC board for approval. Chair Ragan requested a depreciation schedule be provided at a future LEDC meeting.. Motion: Johnson moved to approve the 2017 3D Printer License Agreement, as presented and place on file. Motion seconded by Davis. Yeas: Unanimous. Motion carried. Project Updates Clara's: This property was purchased by Gillespie Group and they are working on a new project and will be reaching -out to the LEDC for a potential future loan. Other Business Dorshimer presented on the following: LEDC Loan Committee (Update): Update by Dorshimer on the current LEDC Loan Committee (consisting of: LaVoie, Coleman, Temporary Member: Julian Darden, LEAP Staff: Karl Dorshimer, Marchelle Smith and Steve Owen (Foster -Swift), as needed. Discussion ensued. Radisson Hotel lUpdate): Chair Ragan and Dorshimer provided an update on the current Radisson Hotel agreement, noting they have recently provided notice that they will not be making the final $100,000 payment. Discussion ensued. City Council Election/Committee Assignments: Dorshimer provided an update on the Lansing City Council (new leadership and committee assignments). Handout provided to LEDC Board of Directors. Jones requested that the LEDC Board have an opportunity to meet with City Council to provide an overview/update on the great work taking place in Lansing. Discussion ensued. Award Presentation: Public Comment None. Adjournment There being no further business, Chair Ragan declared the LEDC meeting adjourned at 9:58 a.m. Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) Lansing Economic Development Corporation Board of Director's Meeting Minutes Friday, June 2, 2017 - 8:30 AM LEAP Office- Executive Boardroom 100 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 r -- Andrea Ragan, Pierre LaVoie, Shelley Davis,;: Calvin Jones, Blake Johnson Mayor Virg Bernero, Baldomero Garcia, - Kimberly Coleman None Karl Dorshimer, Marchelle Smith, Eric Pratt, _7! Kris Klein, Victoria Meadows, Eva Tetteh Steven Owen, Foster Swift r - None r?i Tedi R. Parsons, LEAP Chair Ragan welcomed everyone and called the meeting to order at 9:17 a.m. x,? C.7 Am - Cl) Approval of LEDC Board Meeting Minutes - Friday, April 7, 2017 Motion: Jones moved to approve the LEDC meeting minutes from the Friday, April 7, 2017 LEDC Board of Director's meeting. Motion seconded by Butler. Yeas: Unanimous. Motion carried. LEDC Financial Statements - Period Ending April 30, 2017 Smith provided an overview of the LEDC Financial Statements, period ending April 30, 2017, noting that we close the fiscal year on June 30, 2017. Additionally, she provided an overview of General Operating and Comparative Activities & Changes in Net Assets. Discussion ensued. Motion: Butler moved to receive the LEDC Financials, period ending April 30, 2017, as presented and place on file. Motion seconded by Johnson. Yeas: Unanimous. Motion carried. LEDC FY 2017-2018 Budget (Action) Dorshimer presented the LEDC Budget FY -2017-2018 for the LBRA board's approval. He provided an overview of FY 2017-2018 expenditures and revenues, arts and cultures and fagade grants. Smith noted that the Business Incubator Rental Income #40100 inadvertently got changed from $47,062 to $630 causing the net income to be off. Smith will make the correction so that income equals expenses. Discussion ensued. C7 M Motion: Davis moved to approve the 2017-2018 LEDC Budget with a correction being made to line Item #40100- Rental Income to reflect $47,062, as presented. Motion seconded by LaVoie. Yeas: Unanimous. Motion carried. UDAG Report - Period Ending April 30, 2017 Smith provided an overview/update on the UDAG funds for the period ending April 30, 2017. She noted the Mobieus Technologies will be paying their final loan payment in June 2017. Discussion ensued. Approval of 2017 - 2017 LEDC Contracts Dorshimer introduced Steven Owen, Foster Swift, who presented an overview of the four contracts presented for the LEDC board's approval, The following points of interest were noted during his presentation: • Still waiting for final changes from the City of Lansing Attorney's office, recommending that the board approve the LEDC - City of Lansing contract as presented and allow Dorshimer to make necessary changes as presented by the city attorney (understanding this would happen without any substantive changes) • Overview of changes made to the 2017-2018 contract (redline version) • Overview and verification of Safe and Harmless Clause • Overview of language for Placemaking vs. Arts and Culture activities • Clarification of Item 4 on page 5 of LEDC - City of Lansing 2017-2018 contract • Clarification of Item 8 - Section 8, page 7 - Subsection C: Contract Termination by Mayor and/or City Council (language change) • Discussion of EDC contract being dissolved and the continued duties of the LEDC Board of Directors • Clarification on page 11 - Paragraph 17: Save Harmless & Indemnification • Arts & Culture Contract - Clarification of Amount of contract from $130,000 to $150,000. LEDC - LEAP 2017 - 2018 Contract: Motion: Johnson moved to accept and approve the LEDC - LEAP 2017-2018 Contract with the approval of Dorshimer or Trezise authorized to make any non -substantive changes as needed, as presented. Motion seconded by Jones. Yeas: Unanimous. Motion carried. LEDC - City of Lansing 2017 - 2018 Contract: Motion: Davis moved to accept and approve the LEDC - City of Lansing 2017- 2018 Contract with approval of any non -substantive changes, as presented. Motion seconded by LaVoie. Yeas: Unanimous. Motion carried. 2 LEDC - City of Lansing Arts & Culture Contract: Motion: Jones moved to accept and approve the 2018 LEDC - City of Lansing Arts & Culture Contract, as presented. Motion seconded by Davis. Yeas: Unanimous. Motion carried. LEDC - City of Lansing FaVade Grant: Motion: Jones moved to accept and approve the 201.8 LEDC - City of Lansing Fagade Grant Contract, as presented. Motion seconded by Johnson. Yeas: Unanimous. Motion carried. LEDC Liability Insurance (Discussion) Dorshimer noted that after a recent discussion with Steven Owen, Foster Swift, there is no immediate need to change the insurance coverage for the LEDC Board, but he suggested looking into potential additional coverage for the LBRA and TIFA Board. Additional information and discussion will be presented at a future meeting. Owen noted that the LEDC board is covered by Errors & Omissions (E&O) and that this should not be confused as professional liability insurance coverage. He advised that there are exclusions from the E&O coverage, which may not necessarily cover liability and suggests creating a pathway for liability coverage for the LEDC-LBRA-TIFA board. Jones would like to find out if our insurance provider covers the board before deciding to pursue additional insurance. Discussion ensued. Project Updates None. Other Business Dorshimer presented on the following: Public Comment None. Adjournment There being no further business, Chair Ragan declared the LEDC meeting adjourned at 10:42 a.m. rarl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 3