Tax Increment Finance Authority

APPROVED 07/26/2023 TAX INCREMENT FINANCE AUTHORITY MINUTES JUNE 28, 2023 THE MEETING OF THE TAX INCREMENT FINANCE AUTHORITY WAS CALLED TO ORDER AT 7:01 P.M., ON JUNE 28, 2023, BY CO-CHAIRMAN REINDEL Present: Ball, LaFore, Reindel, Weinert, Yelencich Absent: Garant Others: Director Moore, City Clerk McCallister Visitors: None Motion by Yelencich, supported by Ball, to excuse Authority Member Garant from tonight’s meeting due to being out of town. All yeas Motion passes APPROVAL OF MINUTES Motion by Weinert, supported by LaFore, to approve the minutes from April 26, 2023, as presented. All yeas Motion passes APPROVAL OF BILLS Motion by LaFore, supported by Weinert, to approve the Payroll Expenses for April 20, 2023 through June 21, 2023 in the amount of $11,670.92, and the Schedule of Bills for April 20, 2023 through June 21, 2023 in the amount of $215,520.29. All yeas Motion passes CORRESPONDENCE Revenue and Expense Report for April, 2023 Revenue and Expense Report for May, 2023 City Council Minutes for the April 17, 2023 Regular Meeting City Council Minutes for the April 17, 2023 Budget Workshop City Council Minutes for the April 24, 2023 Special Meeting TIFA Mtg: 06/28/2023 Page 1 of 4  APPROVED 07/26/2023 City Council Minutes for the May 1, 2023 Regular Meeting City Council Minutes for the May 1, 2023 Budget Workshop City Council Minutes for the May 15, 2023 Regular Meeting City Council Minutes for the May 15, 2023 Budget Workshop City Council Minutes for the June 5, 2023 Regular Meeting Received and filed the correspondence as presented. PUBLIC COMMENTS None ADOPTION OF AGENDA Motion by Ball, seconded by Yelencich, to adopt the agenda as presented All yeas Motion passes ITEMS FOR CONSIDERATION 1. Election of Chairman and Vice-Chairman Due to the recent passing of TIFA Chairman, Bill Ruff, an Election of Chairman and Vice Chairman was conducted. Motion by Reindel, seconded by LaFore, to elect Garant as Chair, and Reindel as Vice-Chair of the City of Richmond TIFA. All yeas Motion passes 2. PA 57 Informational Meeting/Review of Proposed TIFA Budget City Manager Moore explained the reporting requirements of Public Act 57. This is the second (2nd) official Public Informational Meeting necessary to meet this State requirement. Invitations were sent for a second time via email to the Macomb County Clerk, City Clerk and President of the Macomb Community College to attend the meeting and pose any questions. These invitations are required to be sent to any agency to which we capture taxes from. No formal action was taken. No comments were received. TIFA Mtg: 06/28/2023 Page 2 of 4  APPROVED 07/26/2023 3. Approval of the FY2023-24 TIFA Budget Director Moore briefed the Authority on the current financial status of TIFA and provided information to the Authority explaining the proposed FY2023-24 TIFA budget. TIFA revenues will not be adjusted for the new fiscal year as the City Council has elected not to reduce the TIFA. It was noted that several of the projects that were suggested by Authority members at the last meeting were incorporated in the six (6)-Year Capital Improvement Plan. Motion by LaFore, seconded by Weinert, to approve the FY2023/24 TIFA Budget. All yeas Motion passes 4. Adoption of Resolution No 2023-1/Dedication of Funds Motion by Weinert, seconded by Ball, to adopt TIFA Resolution No 2023-1 which dedicates the $33,279 in surplus funds against future projects. All yeas Motion passes MISCELLANEOUS MATTER FROM THE DIRECTOR Parking Lot Reconstruction – This project is complete with the exception of the landscaping and the striping of the lot. Feedback from the community has been very positive. Stone Street Reconstruction – The pavement is scheduled to be paved on 6/29/23. With the addition of the City’s new recreation programmer, Jill Manchik, more programming at the Aud will be forthcoming. CHAIRMAN AND AUTHORITY MEMBERS Weinert asked if anyone had discussed adding an elevator at the Aud. Reindel – Would like the local businesses (where the parking lot reconstruction is located) to be encouraged to revamp the rear exterior of their façade. Director Moore indicated that currently four (4) of the eight (8) either have already started or have plans to update the appearance. TIFA Mtg: 06/28/2023 Page 3 of 4  APPROVED 07/26/2023 ADJOURNMENT Motion by Ball, supported by Yelencich, to adjourn the Tax Increment Finance Authority meeting at 7:24 p.m. All yeas Motion passes Respectfully Submitted: Heather McCallister City Clerk TIFA Mtg: 06/28/2023 Page 4 of 4