Local Development Finance Authority

CITY OF STERLING HEIGHTS LOCAL DEVELOPMENT FINANCE AUTHORITY MINUTES OF THE SPECIAL MEETING August 22, 2012– 5:30 p.m. 40555 Utica Road, Sterling Heights, MI 48313 586-446-2489 City Council Chambers Approved Victor Martin called the meeting to order at 5:30 p.m. Pledge of Allegiance Members present at roll call: David Corba, Lori Doughty (late) Richard Kincaid, John Lamerato, John Lettang, Victor Martin, Casey Sobczak, David Wilson, Members absent: Stephan Cassin, (excused), Orest Zachary, (excused) Also in attendance: Denice A. Gerstenberg, Business Development Manager, Kasey Green, Economic Development Manager, Julie Gustafson, Executive Director Macomb OUIncubator Motion to Approve the Agenda Moved by Sobczak, supported by Wilson, to approve the agenda as presented. Ayes: All Nays: None Motion carried. New Business Ms. Gerstenberg gave a brief overview of the new tenant Coliant corporation. General discussion ensued about the business, the sales office will be at the incubator, and the manufacturing will be done in Warren. Motion to approve the standard lease agreement between Coliant Corporation and the Local Development Finance Authority (LDFA) Moved by Lamerato, supported by Lettang to approve the motion Ayes: All Nays: None Motion carried. Old Business None Board Members Report None Public Comment None Adjournment Moved by Lettang supported by Wilson to adjourn. Ayes: All Nays: None Motion carried. The meeting adjourned at 5:35 pm TJ Minutes Approved 10/17/12 John Lettang Secretary