HomeMy WebLinkAbout2012 TIFA minutesTax Increment Finance Authority
Regular Board of Director's Meeting Minutes
Lansing Economic Development Corporation Conference Room
Friday, May 4, 2012
7:45 a.m.
Members Present: Mayor Bernero, Kim Coleman, Bo Garcia, Calvin Jones,
Kevin O'Malley
Members Absent: James Butler, Pierre LaVoie, Greg Ward
Staff Present: Karl Dorshimer, Marchelle Smith
Guests: Angie Bennett, City of Lansing Interim Finance Director
Terry Lang, Butzel Long
Public Present: L.W. Morrow
Call to Order
Vice Chair, Calvin Jones called the meeting to order at 9:10 a.m.
Approval of Meeting Minutes from December 2, 2011 Regular Board Meeting
Motion: Bo Garcia moved the Board to approve the meeting minutes from the
December 2, 2011 regular Board of Director's meeting and place them on
file. Motion seconded by Kevin O'Malley.
Yeas: Unanimous. Motion carried.
Financial Statements March 31, 2012
Motion: Bo Garcia moved the Board to receive the March 31, 2012 financial
statements and place them on file. Motion seconded by Kim Coleman.
Yeas: Unanimous. Motion carried.
Fiscal Year 2012/2013 Budget
Karl Dorshimer presented the TIFA budget and noted that TIFA tax capture is projected
to be reduced by 36% due to two large buildings coming off the tax rolls in the coming
year. This impacts the amount of administrative fees that go to the LEDC for its
operations. Many municipalities are experiencing the same loss and another reason to
partnership with regional organizations.
Motion: Bo Garcia moved the Board
2012/2013 and place it on file
Yeas: Unanimous. Motion carried.
Other Business
None
to approve the TIFA budget for fiscal year
Motion seconded by Kevin O'Malley.
CD
Public Comment
None
Adjournment
Vice Chair, Calvin Jones adjourned at 9:20 a.m.
Minutes by Marchelle smith k1a
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Karl Dorshimer, Manager
Tax Increment Finance Authority
Board of Director's Meeting Minutes
Downtown Lansing, Inc. - Conference Room
Friday, July 7, 2012
7:45 a.m.
Members Present:
Temporary Members Present:
Members Absent:
Staff Present:
Guests:
Public Present:
Recorded by:
Greg Ward, James Butler, Kim Coleman, Pierre
Kevin O'Malley
Paul Holland
Mayor Bernero, Calvin Jones, Bo Garcia
Karl Dorshimer, Marchelle Smith
LEAP Staff
None
Tedi R. Parsons, LEAP
Call to Order
Chair Ward called the meeting to order at 9:14 a.m.
Approval of Meeting Minutes from May 4, 2012 TIFA Board Meeting
Motion: Coleman moved to approve the meeting minutes from the May 4, 2012
regular TIFA Board of Director's meeting and place them on file. Motion
seconded by O'Malley.
Yeas: Unanimous. Motion carried.
Unaudited Year -End Financial Statements - Period Ending June 30, 2012
Smith provided an overview of the Unaudited Year -End Financial Statements, period
ending June 30, 2012. Smith noted there was an additional tax cap of $183,000.
Motion: Coleman moved to approve the Unaudited Year -End Financial Statements,
period ending June 30, 2012, as presented and place them on file. Motion
seconded by La Voie.
Yeas: Unanimous. Motion carried.
Financial Statements - Period Ending July 31, 2012
Smith provided an overview of the TIFA Financial Statements, period ending July 31,
2012. It was noted that no action is required from the Board at this time.
Resolution to Amend 2011/2012 TIFA Budget
Smith provided a Resolution to amend the 2011/2012 TIFA Budget, as the original
projected budget resulted in the miscellaneous operating expenditure account for
administrative fees to increase from $220,500 to $229,966.
Motion: La Voie moved to approve the Resolution to amend the 2011/2012 TIFA
Budget, as presented and place them on file. Motion seconded by Butler.
Yeas: Unanimous. Motion carried.
FIFA Update
No TIFA updates were provided due to time restraint. Updates will be provided at the
next meeting.
Other Business
No other business was reported.
Pabiic Comment
None
Adjournment
Chair, Greg Ward declared the meeting adjourned at 9:24 a.m.
Karl Dorshimer, Director, Economic Development
Lansing Economic Area Partnership (LEAP)