Local Development Finance Authority

CITY OF STERLING HEIGHTS Regular Meeting of the LOCAL DEVELOPMENT FINANCE AUTHORITY 40555 UTICA ROAD 586-884-9322 CITY COUNCIL CHAMBERS February 18, 2015 8:00 AM MEETING CALLED TO ORDER PLEDGE OF ALLEGIANCE ROLL CALL APPROVAL OF AGENDA APPROVAL OF MINUTES OF January 28, 2015 Special Meeting NEW BUSINESS 1. To approve the Lease Agreement between Linked, LLC and the Local Development Finance Authority (LDFA). OLD BUSINESS BOARD MEMBERS REPORT PUBLIC COMMENT ADJOURNMENT  CITY OF STERLING HEIGHTS LOCAL DEVELOPMENT FINANCE AUTHORITY Draft MINUTES OF THE SPECIAL MEETING January 28, 2015 – 8:00 a.m. 40555 Utica Road, Sterling Heights, MI 48313 586-446-2489 City Council Chambers Phil Hunsberger called the meeting to order at 8:00 a.m. Pledge of Allegiance Members present at roll call: Stephen Cassin, Stephanie Eagen, Phillip Hunsberger, Laurel Johnson, John Lamerato, John Lettang, Victor Martin, Jill Tomyn, Orest Zachary Members absent: David Corba, Lori Doughty, Richard Kincaid, Paula Sorrell Also in attendance: Barry Hicks, Economic Development Manager, and Julie Gustafson, Director, Oakland University Motion to Approve the Agenda Moved by Lamerato, supported by Zachary, to approve the agenda as presented. Ayes: All Nays: None Motion carried. Motion to Approve the Minutes of November 19, 2014 Special Meeting Moved by Martin, supported by Zachary, to approve the minutes as presented. Ayes: All Nays: None Motion carried. New Business To approve the Lease Agreement between RayoMar Enterprises, Inc. and the Local Development Finance Authority (LDFA). Mr. Hunsberger inquired if this company fits the technology requirement of the incubator. Mr. Hicks confirmed that it does. Mr. Hunsberger stated that it seems this company is an established company. Ms. Gustafson said they have been in business for four years and are developing a new product. She went on to state that the guidelines of the MEDC is five years and younger. Moved by Lettang, supported by Martin to approve the Lease Agreement between RayoMar Enterprises, Inc. and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement between Warmilu and the Local Development Finance Authority (LDFA). Mr. Hicks stated that Warmilu is developing a heated wrap for premature babies and patients afflicted with artheritis. Ms. Gustafson stated that Warmilu won second place in the Macomb Pitch Competition and part of the prize for winning is to have a cubicle for one year at the incubator free of charge. Warmilu is based out of Ann Arbor and with their occupancy at the incubator; they will be expanding exposure of their product. Moved by Martin, supported by Lamerto to approve the Lease Agreement between Warmilu and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. Old Business None Board Members Report None Public Comment None Adjournment Moved by Martin, supported by Zachary to adjourn. Ayes: All Nays: None Motion carried. The meeting adjourned at 8:07 am KQ  LDFA Business Sterling Heights, Michigan 2/18/15 AGENDA STATEMENT OMB AS03 Rev. 11/04 Item Title: To approve the Lease Agreement between Linked, LLC and the Local Development Finance Authority (LDFA). Submitted By: Barry Hicks, Economic Development Manager 586-884-9327 Executive Summary Attached for LDFA review is a March 1, 2015 to February 28, 2016 lease agreement between Linked, LLC and the LDFA. Linked, LLC has signed the standard lease agreement for space #3-C in section 3 of the building containing approximately 652 square feet of space. Monthly rent will be $598.00. The following is a summary of Linked, LLC: Linked is a woman-owned staffing company. They focus on all areas of personnel staffing including candidate search, recruitment, contract, temporary and direct placement services. Linked is dedicated to providing a premier staffing service to suppor the hiring needs of organizations worldwide. They make time to learn your business, workplace culture, and the unique characteristics of each hiring search. At Linked, they specialize in staffing for a wide variety of industries including: Engineering Manufacturing Information Technology Aerospace Accounting/Finance Human Resources Professional/Administrative Their sophistication, professionalism, and awareness of the industries they serve make them a clear sounding board to their clients. Business moves quickly and needs change by the minute. Linked is able to help match the best talent with the best companies fast and accurately. A sample of clients include: • Dart Container Corporation/Solo-Cup - (Largest foam manufacturer, Mason, MI)  • Cpk Interior Products - (Owned by Chrysler, was previously known as Collins & Aikman) • Pacific Insight Electronics Corp. - (Designs, Manufactures and Delivers world class electronic products) - Novi, MI • TRW Automotive - Livonia & Farmington Hills, MI. • Aernnova - (Designs and Manufactures Aviation Interiors)- Ann Arbor, MI • Aerostarr Manufacturing - (CNC Machining & Casting) - Romulus, MI • General Motors - (In early phase of being approved as vendor, Warren, MI) • The Paslin Company - (Manufacturing and Automation Company in Warren, MI) • ImageSoft - (Tech Company in Southfield, MI) • SpotOn - (Tech Company in Chicago, IL) • Vectorform - (Tech Company in Royal Oak, MI) • VSSI - (Tech Company in Farmington Hills, MI) . Suggested Action: MOVED BY: SECONDED BY: RESOLVED: to approve the Lease Agreement between Linked LLC and the Local Development Finance Authority (LDFA)