SmartZone Local Development Finance Authority Regular Meeting

SmartZone Local Dev Finance Authority City Hall Minutes Packet 300 Monroe Ave NW, 9th Floor Grand Rapids, MI 49503 April 12, 2023 @ 10:30 AM City Commission Chambers PRESENT: Hal Ostrow, Jerry Kooiman, Al Vanderberg, Keith Brophy, Jerry Callahan, Lisa Freiburger, Randy Thelen, Mark Washington, Greg Sanial ABSENT: Kristian Grant OTHERS: Jeremiah Gracia, Jordan Turner, Tricia Chapman, Chad Buczkowski, John Weiss, Ted Velie (Midwest House) I. Call to Order The meeting was called to order at 10:31 AM by Chair Hal Ostrow II. Public Comment on Agenda Items None. III. Minutes Approval 1. Approval of Minutes from March 8, 2023 No comments or corrections noted. Motion to approve the minutes from March 8, 2023. RESULT: ACCEPTED [UNANIMOUS] MOVER: Al Vanderberg, Treasurer SECONDER: Mark Washington, Member YEAS: Ostrow, Kooiman, Vanderberg, Brophy, Callahan, Freiburger, Thelen, Washington, Sanial IV. Financials 1. Interim Financial Statements as of March 31, 2023 Jordan Turner presented to financial statements. Motion to accept Financial Statement C. RESULT: APPROVED [UNANIMOUS] MOVER: Lisa Freiburger, Member SECONDER: Jerry Callahan, Member YEAS: Ostrow, Kooiman, Vanderberg, Brophy, Callahan, Freiburger, Thelen, Washington, Sanial V. Action Items Generated 4/14/2023 11:05 AM SmartZone Local Dev Finance Authority Meeting Full Page 2 April 12, 2023 1. FY2024 Budget Recommendation and FY2025-2028 Priority Plan for the City of Grand Rapids SmartZone Local Development Finance Authority Mr. Turner presented the budget recommendations. Concerns were expressed on the decrease in Fund Balance and Contracted SmartZone Operations after FY2024. Motion to approve the FY2024 Budget Recommendation and Priority Plan. RESULT: APPROVED [UNANIMOUS] MOVER: Keith Brophy, Member SECONDER: Greg Sanial, Member YEAS: Ostrow, Kooiman, Vanderberg, Brophy, Callahan, Freiburger, Thelen, Washington, Sanial 2. FY2023 Budget Amendment Request Mr. Turner presented the Amendment Request and answered questions. Motion to approve the FY2023 Budget Amendment Request. RESULT: APPROVED [UNANIMOUS] MOVER: Keith Brophy, Member SECONDER: Jerry Callahan, Member YEAS: Ostrow, Kooiman, Vanderberg, Brophy, Callahan, Freiburger, Thelen, Washington, Sanial VI. Reports 1. Midwest House 2023 Presentation Ted Velie presented on the results of a successful large turnout at SXSW. VII. Other Business None. VIII. Public Comment None. IX. Adjournment The meeting was adjourned at 11:18 AM. Generated 4/14/2023 11:05 AM