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Home My WebLink About2011 TIFA minutesTax Increment Finance Authority 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 Greg Ward called the meeting to order at 8:25 a.m. Approval of Meeting Minutes from December 3, 2010 Regular Board Meeting' Motion: Kelly Rossman-McKinney 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 James Butler. Yeas: Unanimous. Motion carried. - Financial Statements as of November 30, 2010 Motion: Bo Garcia 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. Resolution Authorization to Invest the TIFA Debt Service Reserve Funds Marchelle Smith explained the resolution is for the purpose of authorizing Bob Trezise to direct investment from the Cash 2009 Debt Service Reserve account as outlined on the TIFA balance sheet. Karl Dorshimer stated that these reserves came from the refinancing of the bonds in 2009 intended to cover the long term debt on the outstanding bonds. We will work with Angie Bennett, City Budget Manager and Stauder, Barch & Associates to make the appropriate investment with the reserves. Motion: Kelly Rossman-McKinney moved the Board to approve the resolution authorization to invest in the TIFA debt service reserve funds and place it on file. Motion seconded by Bo Garcia. Yeas: Unanimous. Motion carried. Other Business Bob Trezise reported that the TIFA capture is expected to be reduced by 8%. These reductions have an impact on the 5% TIFA administrative fees to the LEDC. The Mayor's State of the City is January 24, 2011 and the Mayor's 'State of the City Preview Breakfast is January 21, 2011. Public Comment None Adjournment Chair, Greg Ward declared the meeting adjourned at 8:35 a.m. Motion: Calvin Jones moved the Board to adjourn the meeting at 8:35 a.m. Seconded by Bo Garcia. X --I\ Yeas: Unanimous. Motion carr: Minutes by M. Smith Tax Increment Finance Authority Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, May 6, 2011 7:45 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 Kim Coleman. Yeas: Unanimous. Motion carried. Financial Statements as of March 31, 2011 Motion: Kelly Rossman-McKinney moved the Board to receive the March 31, 2011 financial statements and place them on file. Motion seconded by Bo Garcia. Yeas: Unanimous. Motion carried. 2011/2012 Budget Bob Trezise presented the fiscal year 2011/2012 budget. Motion: Kelly Rossman-McKinney moved the Board to approve the 2011/2012 budget and place it on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Other Business None Public Comment None r - Members Present: Mayor Bernero, Kim Coleman, Bo Garcia, Calvin Jones, a r ,� 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 �' .. �� Call to Order Chair Greg Ward called the meeting to order at 8:15 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 Kim Coleman. Yeas: Unanimous. Motion carried. Financial Statements as of March 31, 2011 Motion: Kelly Rossman-McKinney moved the Board to receive the March 31, 2011 financial statements and place them on file. Motion seconded by Bo Garcia. Yeas: Unanimous. Motion carried. 2011/2012 Budget Bob Trezise presented the fiscal year 2011/2012 budget. Motion: Kelly Rossman-McKinney moved the Board to approve the 2011/2012 budget and place it on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Other Business None Public Comment None Adjournment Chair, Greg Ward declared the meeting adjourn d a 8:20 a�m. Minutes by M. Smith Y1� Robert L. Trezise, r.,,L RA Director Tax Increment Finance Authority 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 Members Absent: Mayor Bernero, James Butler, Greg Ward Staff Present: Karl Dorshimer, Andrea Ragan, Marchelle Smith Guests: Teresa Choate and Stephen Blann (Rehmann Robson) Angie Bennett and Randy Endsley (City of Lansing Finance Dept.) Public Present: None Call to Order Vice Chair, Calvin Jones called the meeting to order at 8:30 a.m. ; c„ , Draft Audited Financial Statements for the Fiscal Year Ending June 30, 2011: Stephen Blann from Rehmann Robson presented the draft of the audited fineL cial " statements for the fiscal year ending June 30, 2011. 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 Kim Coleman. Yeas: Unanimous. Motion carried. Vice Chair, Calvin Jones called to suspend the TIFA meeting at 8:35 a.m. to take action on regular LEDC business. Motion: Kelly Rossman-McKinney moved the Board to suspend the TIFA meeting to take action regular LEDC business. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Vice Chair, Calvin Jones recalled the meeting to order at 8:50 a.m. Approval of Meeting Minutes from May 6, 2011 Regular Board Meeting Motion: Kelly Rossman-McKinney moved the Board to approve the meeting minutes from the May 6, 2011 regular Board of Director's meeting and place them on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Financial Statements as of October 31, 2011 Motion: Kim Coleman moved the Board to receive the October 31, 2011 financial statements and place them on file. Motion seconded by Bo Garcia. Yeas: Unanimous. Motion carried. TIFA Development and Finance Plan Update Karl Dorshimer expressed that he would like to review the TIFA Development and Financing Plan with the Board at a future meeting. Other Business Since there are new board members, it was recommended that a longer than normal Board meeting be scheduled in January for the Interim President and CEO to give an overview on LEDC, LBRA and TIFA. Public Comment None Adjournment Vice Chair, Calvin Jones declared the meeting adjourned at 9:00 a.m. Minutes by M. Smith Karl Dorshimer, Interim TIFA Manager