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HomeMy WebLinkAbout2019 TIFA MinutesTax Increment Finance Authority Board of Directors Special Meeting Minutes Friday, January 11, 2019 - 8:30 a.m. LEAP Office- Executive Boardroom 100 S Washington Avenue, Suite #201 Lansing, MI 48910 Members Present: Andrea Ragan, Calvin Jones, Blake Johnson, James Butler III, Mayor Andy Schor, Shelley Boyd, Fred Schaible, Kimberly Coleman, Thomas Donaldson Members Absent: None Temp Members Present: None Staff Present: Karl Dorshimer, Marchelle Smith, Kris Klein, Anum Mughal Guests: Steven Owen, Foster & Swift Jim Smiertka, City of Lansing Public Present: None Recorded by: Tedi R. Parsons, LEAP Call to Order Chair Ragan welcomed everyone and called the TIFA Board of Directors Special Meeting to order at 8:34 a.m. Parsons provided an update to the Friday, December 7, 2018 TIFA Board Meeting Minutes noting that he had to change members who were present, but noted not as present. Approval of TIFA Board Meeting Minutes - Friday, December 7, 2018 MOTION: Butler moved to approve the TIFA meeting minutes from the Friday, December 7, 2018 TIFA Board of Director's Meeting Minutes with changes noted by Parsons as presented. Motion seconded by Johnson. YEAS: Unanimous. Motion carried. Resolution Authorizing the Release and Substitution of Property in Accordance with the Contract of Lease with the City of Lansing (Action) Dorshimer advised that the TIFA Board is being asked to approve a Resolution for the amendment of the lease contract with the City of Lansing that will authorize the Release and Substitution of Property for the Townsend parking ramp. Mayor Schor advised the Michigan Senate approached the City of Lansing to purchase the Townsend Street parking ramp. He advised the monies from the sale of the Townsend Parking ramp will be used to pay on the TIFA debt. Jim Smiertka, City Attorney, advised that this is the first of many steps taking place until the sale is finalized. The contract amendment will not be signed until approved by Lansing City Council. Owen noted that he, as LEDC's attorney, has carefully reviewed the amendment and the Resolution presented at today's meeting. He noted that the approval process today is contingent on the final approval by the Lansing City Council. Owen advised that there are still a few small items that need to be revised which were provided in today's meeting packet. Discussion ensued. MOTION: Jones moved to approve the amended the Contract of Lease with the City of Lansing - Authorizing the Release and Substitution of Property of the Townsend Parking Ramp as presented. Motion seconded by Coleman. YEAS: Unanimous. Motion carried. Open Forum for TIFA Board Members & Other Business Chair Ragan opened the floor to the TIFA Board Members, who provided the following announcements/updates: None were provided. Public Comment None was presented. Adjournment There being no further business, Chair Ragan declared the TIFA Board of Directors meeting adjourned at 8:47 a.m. Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) E Members Present: Members Absent: Temp Members Present: Staff Present: Guests: Call to Order Tax Increment Finance Authority Board of Directors Meeting Minutes Friday, February 15, 2019 - 8:30 a.m. M3 Group 221 W Saginaw Street Lansing, MI 48933. Calvin Jones, Thomas Donaldson, Blake Johnson, Shelley Boyd, Kimberly Coleman, Mayor Andy Schor, Andrea Ragan, James Butler III Fred Schaible None Karl Dorshimer, Marchelle Smith, Kris Klein, Anum Mughal Brian Lefler, Robert E. Baird Company Eric Helzer, Advance Redevelopment Solutions Christopher Stralkowski, Ferguson Development Jason Hockstok, Continental Real Estate Company Jennifer Stralkowski, MSHDA Steven Owen, Foster -Swift Jim Smeritka, City of Lansing Janet Michaluk , MI -Department of Environmental Quality Rhonda Jones, Lansing Board of Water & Light Chair Jones welcomed everyone and called the TIFA Board of Directors Meeting to order at 9;54 a.m. Approval of TIFA Special Board Meeting Minutes - Friday, January 11, 2019 MOTION: Ragan moved to approve the TIFA Special Board Meeting Minutes from the Friday, January 11, 2019, as presented. Motion seconded by Boyd. YEAS: Unanimous. Motion carried. TIFA Financial Statements - Period Ending December 31, 2018 Smith provided an overview of the TIFA Financial Statements for the period ending YE December 31, 2018. Smith noted that $2.4 million dollars in revenue has been captured. There are no issues to report. Discussion ensued. MOTION: Donaldson moved to receive the TIFA Financials, period ending YE December 31, 2018, as presented and place on file. Motion seconded by Johnson. YEAS: Unanimous. Motion carried. Open Forum for TIFA Board Members & Other Business Chair Jones opened the floor to the TIFA Board Members, who provided the following announcements/updates: 1 None were provided. Public Comment Lefler: Will present at the next TIFA Board of Directors meeting to update on the TIFA refinancing. Adjournment There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 10:08 a.m. Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Tax Increment Finance Authority Board of Directors Meeting Minutes Friday, April 12, 2019 - 8:30 AM LorAnn Oils 4518 Aurelius Road Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, Kimberly Coleman, Fred Schaible, Andrea Binoniemi, James Butler III Members Absent: Mayor Andy Schor (E), Blake Johnson (E), Shelley Davis -Boyd (E) Temp Members Present: None Staff Present: Karl Dorshimer, Kris Klein, Anum Mughal Guests: Samantha Harkins, City of Lansing Angela Bennett, City of Lansing Janet Michaluk, MDEQ Brian Lefler, Robert E. Baird Company Connor Sullivan, Robert E. Baird Company Jarrod Smith, Dykema Gossett PLLC Brandon Metzger, CB Mining Rhonda Jones, Lansing Board of Water & Light Welcome John Grettenberger Jr., LorAnn Oils, provided the host welcome. Call to Order Chair Jones welcomed everyone and called the TIFA Board of Directors Meeting to order at 8:30 a.m. Rollcall was called by Klein and recorded for public record. Approval of TIFA Special Board Meeting Minutes - Friday, February 15, 2019 MOTION: Schaible moved to approve the TIFA Special Board Meeting Minutes from the Friday, February 15, 2019, as presented. Motion seconded by Donaldson. YEAS: Unanimous. Motion carried. Refunding of TIFA Debt (Action) Dorshimer provided an overview of the history of the TIFA including the development area and focuses. Dorshimer also noted the challenges the TIFA has faced due to many buildings being moved off the tax rolls for non-taxable uses. Dorshimer introduced Lefler to discuss the current round of refunding of TIFA debt. Lefler discussed revenue projections for several scenarios. Lefler noted that this is the forth refunding of the TIFA since 2009 Lefler and is meant to support debt service payments over the long term. MOTION: Schaible moved to approve a Resolution Authorizing Issuance of Refunding Bonds, as presented. Motion seconded by Butler. YEAS: Unanimous. Motion carried. Open Forum for TIFA Board Members Chair Jones opened the floor to the TIFA Board Members, who provided the following announcements/updates: None were provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 8:56 a.m. Kari'Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Members Present: Members Absent: Temp Members Present: Staff Present: Guests: Call to Order Tax Increment Finance Authority Board of Directors Meeting Minutes Friday, May 31, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Calvin Jones, Thomas Donaldson, Shelley Davis -Boyd, Fred Schaible, Andrea Binoniemi, James Butler III Mayor Andy Schor (E), Blake Johnson (E), Kimberly Coleman (E) None Karl Dorshimer, Anum Mughal, Hannah Bryant, Stella Sorovigas Brian Lefler, Robert E. Baird Company Connor Sullivan, Robert E. Baird Company Angela Bennett, City of Lansing Chair Jones welcomed everyone and called the TIFA Board of Directors Meeting to order at 8:34a.m. Rollcall was called by Mughal and recorded for public record. Approval of TIFA Board of Directors Meeting Minutes - Friday, April 12, 2019 MOTION: Butler moved to approve the TIFA Board Meeting Minutes from the Friday, April 12, 2019, as presented. Motion seconded by Schaible. YEAS: Unanimous. Motion carried. TIFA Financial Statements - March 31, 2019 (Motion to Receive) MOTION: Davis -Boyd moved to receive the TIFA Financial Statements, as presented. Motion seconded by Schaible. YEAS: Unanimous. Motion carried. Resolution - Amend the FY 2018-2019 TIFA Budget (Action) Bennett explained the reason for the budget amendment was because of the 2019 TIFA bond refunding. This resulted in proceeds from the refunding bonds being placed in escrow to pay off the bonds. MOTION: Binoniemi moved to approve the Resolution to Amend the FY 2018-2019 TIFA Budget, as presented. Motion seconded by Davis -Boyd. YEAS: Unanimous. Motion carried. Approval of 2019-2020 TIFA Budget (Action) Dorshimer briefly discussed the 2019 - 2020 TIFA Budget. MOTION: Schaible moved to approve the 2019 - 2020 TIFA Budget, as presented. Motion seconded by Binoniemi. 1 YEAS: Unanimous. Motion carried. Refunding of TIFA Debt Update (Discussion) Lefler presented the refunding of the TIFA debt. Since 2009, Baird has been monitoring the TIFA's revenues and debt services expenditures. Baird structured the TIFA 2019 Refunding Bonds to refund the prior 2009 TIFA Bonds and achieve economic savings. Lefler explained that Baird will continue to monitor the TIFA's outstanding debt for future opportunities to refinancing existing obligations. Open Forum for TIFA Board Members Chair Jones opened the floor to the TIFA Board Members, who provided the following announcements/updates: Dorshimer introduced two new members of LEAP, Hannah Bryant and Stella Sorovigas. Bryant is the Economic Development Specialist and would be working with LEAP's Business Development Department. Sorovigas is LEAP's Vice President of Finance. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 9:10 a.m. r) ; il,I. Karl Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Tax Increment Finance Authority Board of Directors Meeting Minutes Friday, AAS, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, James Butler III, Brian McGrain Members Absent: Blake Johnson, Fred Schaible, Kimberly Coleman, Shelley Davis -Boyd (E), Andrea Binoniemi (E) Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein Guests: Call to Order Chair Jones welcomed everyone and called the TIFA Board of Directors Meeting to order at 10:01 a.m. Approval of TIFA Board of Directors Meeting Minutes - Friday, May 31, 2019 MOTION: Donaldson moved to approve the TIFA Board Meeting Minutes from the May 31, 2019, as presented. Motion seconded by Butler. YEAS: Unanimous. Motion carried. Resolution - Bylaw Amendment Re: Officer of Municipality (Action) No further Action Required. Public Act 57 of 2018 - TIFA Reporting (Discussion) Klein provided an overview of Act 57 of 2018 and the new reporting requirements of the TIFA. Klein offered an explanation of the steps staff are taking to meet the new requirements. Klein added that two Informational Meetings will need to be held by the TIFA in 2019. Open Forum for TIFA Board Members Chair Jones opened the floor to the TIFA Board Members, who provided the following announcements/updates: Butler asked about additional grocery stores and development in downtown Lansing, discussion regarding ongoing development in the TIFA district ensued between members. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 10:10 a.m. Karf Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Members Present: Members Absent: Temp Members Present: Staff Present: Guests: Call to Order Tax Increment Finance Authority Board of Directors Meeting Minutes Friday, August 2, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Calvin Jones, Thomas Donaldson, James Butler III, Brian McGrain, Fred Schaible, Kimberly Coleman, Shelley Davis - Boyd Blake Johnson (E), Andrea Binoniemi None Karl Dorshimer, Hannah Bryant None Chair Jones welcomed everyone and called the TIFA Board of Directors Meeting to order at 8:33 a.m. Rollcall was called by Bryant and recorded for public record. Approval of TIFA Board of Directors Meeting Minutes - Friday, July 12, 2019 MOTION: McGrain moved to approve the TIFA Board Meeting Minutes from the July 12, 2019, as presented. Motion seconded by Butler. YEAS: Unanimous. Motion carried. Open Forum for TIFA Board Members Chair Jones opened the floor to the TIFA Board Members, no comments were provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 8:34 a.m. K Dorshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 1 Members Present: Members Absent: Temp Members Present: Staff Present: Guests: Public: Call to Order Tax Increment Finance Authority Informational Meeting #1 of 2019 Friday, August 2, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Calvin Jones, Thomas Donaldson, James Butler III, Brian McGrain, Fred Schaible, Kimberly Coleman, Shelley Davis - Boyd Blake Johnson (E), Andrea Binoniemi None Karl Dorshimer, Hannah Bryant None None Chair Jones welcomed everyone and called the TIFA Informational Meeting to order at 8:34 a.m. Information on TIFA Goals and Projects Dorshimer gave a brief explanation on the first TIFA informational meeting and summarized the TIFA finance plan. Discussion of the TIFA finance plan included if the boundaries of the TIFA could be expanded and since the last update of the plan was in 2001, if LEAP staff could first review it and then a subcommittee could review the plan. Open Forum for TIFA Board Members Chair Jones opened the floor to the TIFA Board Members, no comments were provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 8:42 a.m. Karl I2orshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 1 Tax Increment Finance Authority Informational Meeting #2 of 2019 Friday, September 6, 2019 - 8:30 AM - LEAP Office 1000 S. Washington Ave. Ste. 201, Lansing, MI 48910 Members Present: Thomas Donaldson, James Butler III, Shelley Davis -Boyd, Blake Johnson, Andrea Binoniemi Members Absent: Calvin Jones, Brian McGrain, Fred Schaible, Kimberly Coleman Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein Guests: Public: Call to Order Chair Jones called the TIFA Informational Meeting to order at 9:44a.m. Approval of TIFA Informational Meeting #1 of 2019 Minutes - Friday, August 2, 2019 MOTION: Binoniemi moved to approve the TIFA Informational Meeting #1 of 2019 Minutes from August 2, 2019, as presented. Motion seconded by Butler. YEAS: Unanimous. Motion Carried. Information on TIFA Goals and Projects Binoniemi asked about Act 57 informational meetings. Klein provided that we need two informational meetings before the end of the year. Dorshimer discussed that there are no current plan to amend the TIFA Plan and District but it is something the TIFA board can examine. Open Forum for TIFA Board Members Vice -Chair Donaldson opened the floor to Board Members, no comments were provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Vice -Chair Jones declared the TIFA Board of Directors meeting adjourned at 9:58 a.m. F Karl 6orshi ier, Director of Economic Development Lansing Economic Area Partnership (LEAP) 1 Tax Increment Finance Authority Board of Directors Meeting Minutes Friday, October 4, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, James Butler III, Blake Johnson, Shelley Davis - Boyd, Brian McGrain, Fred Schaible, Andrea Binoniemi Members Absent: Kimberly Coleman (E), Thomas Donaldson (E) Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein, Rachel Mcllvaine, Jennifer Abood-Morris Guests: Call to Order Chair Jones welcomed everyone and called the TIFA Board of Directors Meeting to order at 9:44a.m. Approval of TIFA Board of Directors Meeting Minutes - Friday, September 6, 2019 MOTION: McGrain moved to approve the TIFA Board Meeting Minutes from September 6, 2019, as presented. Motion seconded by Butler. YEAS: Unanimous. Motion Carried. Approval of TIFA Informational Meeting #2 Minutes - Friday, September 6, 2019 MOTION: McGrain moved to approve the TIFA Informational Meeting #2 Minutes from September 6, 2019, as presented. Motion seconded by Butler. YEAS: Unanimous. Motion Carried. Open Forum for TIFA Board Members Chair Jones opened the floor to the TIFA Board Members, no comments were provided. Other Business No other business was presented. Public Comment None was provided. Adjournment 1 There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 9:45 a.m. Karl ©orshimer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 2 Tax Increment Finance Authority Board of Directors Meeting Minutes Friday, November 1, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, James Butler III, Shelley Davis -Boyd, Brian McGrain, Blake Johnson Members Absent: Fred Schaible, Andrea Binoniemi, Kimberly Coleman Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein, Rachel Mcllvaine, Jennifer Abood-Morris Guests: None Call to Order Chair Jones welcomed everyone and called the TIFA Board of Directors Meeting to order at 9:38a.m. Approval of TIFA Board of Directors Meeting Minutes - Friday, October 4, 2019 MOTION: Butler moved to approve the TIFA Board Meeting Minutes from October 4, 2019, as presented. Motion seconded by Johnson. YEAS: Unanimous. Motion Carried. Open Forum for TIFA Board Members None was provided. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 9:39 a.m. i Karl "Dorsh mer, birector of Economic Development Lansing Economic Area Partnership (LEAP) 1 Tax Increment Finance Authority Board of Directors Meeting Minutes Friday, December 6, 2019 - 8:30 AM LEAP Office 1000 S. Washington Ave. Ste. 201 Lansing, MI 48910 Members Present: Calvin Jones, Thomas Donaldson, Shelley Davis -Boyd, Brian McGrain, Fred Schaible, Andrea Binoniemi Members Absent: Blake Johnson (E), Kimberly Coleman (E), James Butler III Temp Members Present: None Staff Present: Karl Dorshimer, Hannah Bryant, Kris Klein, Rachel Mcllvaine, Jennifer Abood-Morris Guests: Jeff Scharnowske Call to Order Chair Jones welcomed everyone and called the TIFA Board of Directors Meeting to order at 9:41 a.m. Approval of TIFA Board of Directors Meeting Minutes - Friday, November 1, 2019 MOTION: Davis -Boyd moved to approve the TIFA Board Meeting Minutes from November 1, 2019, as presented. Motion seconded by Donaldson. YEAS: Unanimous. Motion Carried. Update on Financials Chair Jones introduced Jeff Scharnowske, the new Finance Manager for the City of Lansing. Scharnowske provided an overview of his role and welcomes input from the board as how financials are presented at future meetings. Open Forum for TIFA Board Members Chair Jones opened the floor for discussion from Board Members. Binoniemi discussed that Lansing was recently selected as a Culture Collective city to work towards focusing on work culture. Other Business No other business was presented. Public Comment None was provided. Adjournment There being no further business, Chair Jones declared the TIFA Board of Directors meeting adjourned at 9:44 a.m. K& Dor�himer, Director of Economic Development Lansing Economic Area Partnership (LEAP) 1