Local Development Finance Authority

CITY OF STERLING HEIGHTS LOCAL DEVELOPMENT FINANCE AUTHORITY Approved MINUTES OF THE SPECIAL MEETING April 27, 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 8:03 a.m. Pledge of Allegiance Members present at roll call: Stephen Cassin, David Corba, Lori Doughty, Stephanie Eagen, Phillip Hunsberger, Richard Kincaid, John Lamerato, Victor Martin, Jill Tomyn Members absent: Laurel Johnson, John Lettang, Paula Sorrell, Orest Zachary Also in attendance: Barry Hicks, Economic Development Manager Motion to Approve the Agenda Moved by Martin, supported by Kincaid, to approve the agenda as presented. Ayes: All Nays: None Motion carried. Motion to Approve the Minutes of March 18, 2015 Regular Meeting Moved by Kincaid, supported by Martin, to approve the minutes as presented. Ayes: All Nays: None Motion carried. New Business To approve the Lease Agreement between Michigan Economic Development Corporation and the Local Development Finance Authority (LDFA). Moved by Kincaid, supported by Corba to approve the Lease Agreement between Michigan Economic Development Corporation and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between SBDC and the Local Development Finance Authority (LDFA). Moved by Martin, supported by Kincaid to approve the Lease Agreement Renewal between SBDC and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between The Metiss Group and the Local Development Finance Authority (LDFA). Moved by Cassin, supported by Martin to approve the Lease Agreement Renewal between The Metiss Group and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between Logistics Specialties, Inc. and the Local Development Finance Authority (LDFA). Moved by Cassin, supported by Kincaid to approve the Lease Agreement Renewal between Logistics Specialties, Inc. and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between KTISIS, LLC and the Local Development Finance Authority (LDFA). Moved by Corba, supported by Martin to approve the Lease Agreement Renewal between KTISIS, LLC and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between Golden Products and Services, LLC and the Local Development Finance Authority (LDFA). Moved by Martin, supported by Kincaid to approve the Lease Agreement Renewal between Golden Products and Services, LLC and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between Coupon Wallet, LLC and the Local Development Finance Authority (LDFA). Moved by Corba, supported by Kincaid to approve the Lease Agreement Renewal between Coupon Wallet, LLC and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between Coliant Corporation and the Local Development Finance Authority (LDFA). Moved by Kincaid, supported by Martin to approve the Lease Agreement Renewal between Coliant Corporation and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between The Automation of Things and the Local Development Finance Authority (LDFA). Moved by Corba, supported by Martin to approve the Lease Agreement Renewal between The Automation of Things and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To approve the Lease Agreement Renewal between Mango Tree Capital, LLC and the Local Development Finance Authority (LDFA). Moved by Martin, supported by Eagen to approve the Lease Agreement Renewal between Mango Tree Capital, LLC and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. To acknowledge receivership of supporting budget documentation. Moved by Hunsberger, supported by Martin to acknowledge receivership of supporting documentation. Ayes: All Nays: None Motion carried. Old Business Mr. Corba requested that Oakland University provide a status update of the tenants on an annual basis. He is requesting the presentation include length of occupancy in the building. Mr. Martin requested to see a success rate on an annual basis. Mr. Hunsberger would like the presentation to include rates and how they are determined. Board Members Report None Public Comment None Adjournment Moved by Martin, supported by Kincaid to adjourn. Ayes: All Nays: None Motion carried. The meeting adjourned at 8:34 am KQ Minutes Approved 05/20/2015 John Lettang Secretary