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HomeMy WebLinkAbout2009 TIFA minutesTax Increment Finance Authority Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Tuesday, January 6, 2009 7:45 a.m. Members Present: Kim Coleman, Bo Garcia, Calvin Jones, Kelly Rossman-McKinney, Greg Ward, Jeff Williams Members Absent: Mayor Virg Bernero, James Butler, Brian Jeffries Staff Present: Brian Anderson, Karl Dorshimer, Andrea Ragan, Kenny Szymusiak, Marchelle Smith, Bob Trezise Special Guests: None Public Present: None Call to Order Chair Bo Garcia called the meeting to order at 9:07 a.m. Election of Board Officers for 2009 Nominations for 2009 board officers were made as follows: Bo Garcia, Chair, Jeff Williams, Vice Chair, Kelly Rossman-McKinney, Secretary, James Butler, Treasurer. Motion: Greg Ward moved the Board to approve the election of officers and place them on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. TIFA Refinancing Update Bob Trezise reported that the TIFA refinancing Bills were approved through the House and Senate. We are waiting for the Governor to sign. The second request for additional funds had been denied. Approval of Meeting Minutes from November 7, 2008 special Board of Director's Meeting Motion: Kim Coleman moved the Board to approve the meeting minutes from the November 7, 2008 special Board of Director's meeting and place them on file. Motion seconded by Greg Ward. Yeas: Unanimous. Motion carried. Approval of Audited Financial Statements as of June 30, 2008 Under cash and Investments on page 11, it was recommended that the wording "The Corporation believes that due to the dollar amounts of cash deposits and the limits of FDIC insurance, it is impractical to insure all bank deposits" be removed from the section of deposits of $35,481 and placed under the section of deposits of $849,176 on page 12. The auditor will make the adjustment and provide staff with the changes. Motion: Greg Ward moved the Board to approve the Audited Financial Statements with the adjustment as of June 30, 2008 and place them on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Financial Statements as of November 30, 2008 Motion: Kelly Rossman-McKinney moved the Board to receive the November 30, 2008 Financial statements and place them on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Other Business None Public Comment None Adjournment Chair Bo Garcia declared the meeting adjourned at 9:12 a.m. Motion: Greg Ward moved the Board to adjourn the meeting at 9:12 a.m. Motion seconded by Kelly Rossman-McKinney. Yeas: Unanimous. Motion carried. Minutes by M. Smith Tax Increment Finance Authority Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, June 5, 2009 7:45 a.m. Members Present: Kim Coleman, Bo Garcia, Brian Jeffries, Kelly Rossman-McKinney, Greg Ward, Jeff Williams Members Absent: Mayor Beniero, James Butler, Bob Johnson, Calvin Jones Staff Present: Brian Anderson, Karl Dorshimer, Laura Kaufman, Andrea Ragan, Marchelle Smith, Kenny Szymusiak, Bob Trezise Public Present: Denyse Ferguson, LEAP, Anthony Khedaywi, LEAP, Rae Claire Johnson, Careck Call to Order Chair Bo Garcia called the meeting to order at 7:45 a.m. Approval of Meeting Minutes from May 7, 2009 Special Board Meeting Motion: Jeff Williams moved the Board to approve the meeting minutes from the May 7, 2009 special Board of Director's meeting and place them on file. Motion seconded by Greg Ward. Yeas: Unanimous. Motion carried. Financial Statements as of April 30, 2009 TIFA Refinancing Bob reported there still is no resolution to present to the Board. While there have been good negotiations throughout the winter with the State Department of Treasury, they have required unprecedented and significant concessions due to the State's downtown in the economy. Some concerns on these unprecedented concessions have been addressed with the Governor. Other Business None Public Comment None Adjournment Chair Bo Garcia declared the meeting adjourned at 8:15 a.m. Motion: Greg Ward moved the Board to adjourn the meeting at 8:15 a.m. Seconded by Kelly Rossman-McKinney. Yeas: Unanimous. Motion carrie Minutes by M. Smith Tax Increment Finance Authority Special Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Wednesday, June 24, 2009 - - - 7:30 a.m. Members Present: Mayor Bernero, Kim Coleman, Bo Garcia, Brian Jeffries, Bob Johhsbn, Calvin Jones, Kelly Rossman-McKinney, Greg Ward, Jeff Williams Members Absent: James Butler Staff Present: Dorshimer, Marchelle Smith, Bob Trezise Public Present: Jerry Ambrose, City Finance Director, Bill Danhoff, Miller Canfield Paddock & Stone, Chad Gamble, LBA Chair, Tom Korkoske, City Controller, Mary Jo Powell, LBA Secretary, Ken Ross, Jack Roberts, City Attorney, Brigham Smith, LBA Board Member Call to Order Vice Chair Jeff Williams called the meeting to order at 7:30 a.m. At 7:33 a.m. Vice Chair Williams turned the meeting over to Chair Bo Garcia. Resolution to submit Application for Exemption to State Department of Treasury Bob Trezise explained that this special meeting is conducted jointly with the Tax Increment Finance Authority Board and the Lansing Building Authority Board and gave a brief overview on the refinancing of the TIFA Bond debt. The purpose for refinancing is so that the City will not be burdened with annual payments from the general fund to make up for the shortfall. Bill Danhoff, Miller, Canfield, Paddock & Stone briefed the two Boards on the details of the resolutions. Motion: Kelly Rossman moved the Board to approve the resolution to submit application for exemption to the State Department of Treasury and place it on file. Motion seconded by Kim Coleman. Yeas: Unanimous. Motion carried. Resolution Authorizing Issuance of Refunding Bonds Motion: Kim Coleman moved the Board to approve the resolution authorizing issuance of refunding bonds and place it on file. Motion seconded by Calvin. Jones. Yeas: Unanimous. Motion carried. Other Business Bob Trezise stated that the Troppo loan will be moving forward at our next board meeting scheduled for July 10th. Kris has asked that the board consider postponing full payment of the original Troppo loan for 12 months. The board expressed interest in assisting with his request. Public Comment None Adjournment Chair Bo Garcia declared the meeting adjourned at 8:05 a.m. Motion: Kelly Rossman-McKinney moved the Board to adjourn the meeting at 8:05 a.m. Seconded by Calvin Jones. Yeas: Unanimous. Motion carric Minutes by M. Smith Tax Increment Finance Authority Special Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, August 28, 2009 7:45 a.m. Members Present: James Butler, Kim Coleman, Bo Garcia, Calvin Jones, Kelly Rossman-McKinney, Greg Ward, Jeff Williams Members Absent: Mayor Bernero, Brian Jeffries ` -- Staff Present: Karl Dorshimer, Andrea Ragan, Marchelle Smith, Kenny Szymusiak;- j Bob Trezise o Public Present: None Call to Order Chair Bo Garcia called the meeting to order at 9:35 a.m. Approval of Meeting Minutes from June 5, 2009 Regular Board Meeting Motion: Kelly Rossman-McKinney moved the Board to approve the meeting minutes from the June 5, 2009 regular Board of Director's meeting and place them on file. Motion seconded by Jeff Williams. Yeas: Unanimous. Motion carried. Approval of Meeting Minutes from June 24, 2009 Special Board Meeting Motion: James Butler moved the Board to approve the meeting minutes from the June 24, 2009 regular Board of Director's meeting and place them on file. Motion seconded by Jeff Williams. Yeas: Unanimous. Motion carried. Un -Audited Financial Statements as of June 30, 2009 Motion: Greg Ward moved the Board to receive the June 30, 2009 un -audited financial statements and place them on file. Motion seconded by James Butler. Yeas: Unanimous. Motion carried. Public Comment None Adjournment Chair Bo Garcia declared the meeting adjourned at 8:05 a.m. Motion: Kelly Rossman-McKinney moved the B aid to adjourn the meeting at 9:37 a.m. Seconded by Calvin Jones. i Yeas: Unanimous. Motion carried. �i XI, --J(,- Minutes by M. Smith" Robert L. Trezise, JrX-' IFA Director Tax Increment Finance Authority Special Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, September 11, 2009 7:45 a.m. wR Members Present: James Butler, Kim Coleman, Bo Garcia, Calvin Jones, Kelly Rossman-McKinney, Greg Ward, Jeff Williams Members Absent: Mayor Bernero, Brian Jeffries { Staff Present: Karl Dorshimer, Marchelle Smith, Bob Trezise Special Guest: Bill Danhoff, Miller Canfield Public Present: None Call to Order Chair Bo Garcia called the meeting to order at 7:50 a.m. Amendment to TIFA Refunding Bond Resolution Bill Danhoff, Miller Canfield explained the purpose of the amendment to the TIFA Refunding Bond as outlined in the Resolution. Motion: Kelly Rossman-McKinney moved the Board to approve the Resolution to amend the TIFA Refunding Bond and place it on file. Motion seconded by James Butler. Yeas: Unanimous. Motion carried. Other Business None Public Comment None Adjournment Chair Bo Garcia declared the meeting adjourned at 7:55 a.m. Motion: Kelly Rossman-McKinney moved the Board to adjourn the meeting at 7:55 a.m. Seconded by Calvin Jones. Yeas: Unanimous. Motion carried. Minutes by M. Smith Tax Increment Finance Authority Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, November 6, 2009 7:45 a.m. Members Present: James Butler, Kim Coleman, Bo Garcia, Calvin Jones, Greg Ward Members Absent: Mayor Bernero, Brian Jeffries, Kelly Rossman-McKinney, Jeff Williams Staff Present: Brian Anderson, Karl Dorshimer, Marchelle Smith, And --.Ragan, Ken Szymusiak_ Public Present: None - Call to Order Chair Bo Garcia called the meeting to order at 9:00 a.m. Approval of Meeting Minutes from August 28, 2009 Special Board Meeting Motion: Calvin Jones moved the Board to approve the meeting minutes from the August 28, 2009 special Board of Director's meeting and place them on file. Motion seconded by Greg Ward. Yeas: Unanimous. Motion carried. Approval of Meeting Minutes from September 11, 2009 Special Board Meeting Motion: Greg Ward moved the Board to approve the meeting minutes from the September 11, 2009 special Board of Director's meeting and place them on file. Motion seconded by James Butler. Yeas: Unanimous. Motion carried. Financial Statements as of September 30, 2009 Motion: Calvin Jones moved the Board to receive the September 30, 2009 financial statements and place them on file. Motion seconded by Greg Ward. Yeas: Unanimous. Motion carried. Final TIFA Bond Refinancing Update Karl Dorshimer reported that the TIFA bond refinancing has been completed. Other Business James Butler congratulated Karl Dorshimer on a job well done in conducting the board meeting with the full board's concurrence. Public Comment None Adjournment Chair Bo Garcia declared the meeting adjourned at 9:05 a.m. Motion: Greg Ward moved the Board to adjourn the meeting at 9:05 a.m. Seconded by Calvin Jones. Yeas: Unanimous. Motion carried. Minutes by M. Smith Karl Dorshimer, Vice President Tax Increment Finance Authority Regular Board of Director's Meeting Minutes Lansing Economic Development Corporation Conference Room Friday, December 4, 2009 7:45 a.m. Members Present: James Butler, Bo Garcia, Calvin Jones, Greg Ward, Kelly Rossman-McKinney, Jeff Williams Members Absent: Mayor Bernero, Kim Coleman, Calvin Jones Staff Present: Brian Anderson, Karl Dorshimer, Andrea Ragan, Marchelle Smith, Kenny Szymusiak, Bob Trezise Public Present: None Call to Order Chair Bo Garcia called the meeting to order at 9:23 a.m. Approval of Meeting Minutes from November 6, 2009 Regular Board Meeting Motion: James Butler moved the Board to approve the meeting minutes from the November 6, 2009 regular Board of Director's meeting and place them on file. Motion seconded by Jeff Williams. Yeas: Unanimous. Motion carried. Financial Statements as of October 31, 2009 Motion: Jeff Williams moved the Board to receive the October 31, 2009 financial statements and place them on file. Motion seconded by James Butler. Yeas: Unanimous. Motion carried. Other Business None Public Comment None Adjournment Chair, Bo Garcia declared the meeting adjourned at 9:25 a.m. C. Motion: Jeff Williams moved the/Boa to adjourn the meeting at 9:23 a.m. Seconded by Kelly Rossman-Mc nney. Yeas: Unanimous. Motion carried, Minutes by M. Smith � U / Robe t L. Trezise, Jr,/I IFA Director