Local Development Finance Authority

CITY OF STERLING HEIGHTS LOCAL DEVELOPMENT FINANCE AUTHORITY MINUTES OF THE SPECIAL MEETING December 30, 2009– 10:00 A.M. CITY CENTER – Council Chambers Approved Victor Martin called the meeting to order at 9:58 a.m. Pledge of Allegiance Members present at roll call: Stephen Cassin, Lori Doughty, Joseph Dueweke, Richard Kincaid, John Lamerato, John Lettang, Victor Martin, Casey Sobczak, David Wilson, Zac Zachary Members absent: Irene Spanos, excused Also in attendance: Luke Bonner, Economic Development Manager; Jim Buhlinger, City Treasurer, Teresa Jarzab, Recording Secretary Motion to Approve the Agenda Moved by Dueweke, supported by Wilson, to approve the agenda as presented. Ayes: All Nays: None Motion carried. Motion to Approve the Minutes of October 21, 2009 Moved by Wilson, supported by Dueweke, to approve the Minutes as presented. Ayes: All Nays: None Motion carried. New Business Mr. Bonner thanked everyone for coming in for this special meeting. Mr. Bonner gave a brief description of the building, and property that is being considered for donation. He explained what the building was used for and how this opportunity came about to be presented today. Dr. Spencer stated that this is exactly what the incubator was looking to do in the future, obtain its’ own facilities. He wanted to make sure that we know that the other location at Sterling Ponds is not going to be moved, we will continue to utilize that location. By receiving this donation, the incubator can now use this a match for obtaining additional funds and grants. Mr. Lettang asked if the due diligence process been done. Mr. Bonner said yes that phase I was done in 1990 and an update will be done the first of January. General discussion about the zoning of the property, and the surrounding properties ensued. General discussion about the donation agreement ensued. Several changes to the agreement were suggested, Mr. Bonner stated that the agreement was written by the City Attorney’s office and that he will take all the suggestions back to the City Attorney’s office. Mr. Bonner suggested that we approve the agreement contingent on the amendments to sections 13 & 14. Motion to approve contingent on the amendments to sections 13 & 14 the Donation Agreement between Damman, L.C. and the City of Sterling Heights Local Development Finance Authority and authorize the Chairman and Secretary to sign all documents required in conjunction with this approval and to acknowledge receipt of and accept the deed from Damman, L.C. conveying title to the property more specifically identified therein and commonly know as 6633 18 Mile Road as of December 30, 2009 as a donation to the City of Sterling Heights Local Development Finance Authority. Moved by Dueweke, supported by Lettang, to approve Motion Ayes: All Nays: None Motion carried Old Business None Board Members Report None Public Comment City Manager Mark Vanderpool thanked the Commissioners on behalf of the Mayor, City Counsel, himself, Luke Bonner and the OU Incubator. Adjournment Moved by Dueweke, supported by Lettang. Ayes: All Nays: None Motion carried. Minutes Approved 05/19/2010 The meeting adjourned at 10:55 a.m. TJ John Lettang Secretary