Local Development Finance Authority

CITY OF STERLING HEIGHTS Special Meeting of the LOCAL DEVELOPMENT FINANCE AUTHORITY October 15, 2021 8:00 AM The LDFA is conducting its meeting on October 15, 2021 by telephone conference. This meeting will take place at 8:00 a.m., on October 15, 2021 by Zoom videoconference and teleconference. To access the meeting, members of the public must dial in using the following telephone conference number: Dial In: _1-929-205-6099________ . When prompted, enter the following Meeting ID Number: __819 1960 8246___________ and passcode 169250. All pubic participants wishing to participate by telephone will be placed on hold in a virtual “waiting room” until the meeting starts (8:00 a.m.). All members of the public will be muted during the business portion of the meeting. Those wishing to participate in Public Comment will then be recognized by the Chair and asked whether that person has a comment at that time. When prompted, you should indicate your desire to address the LDFA Board and be recognized by the Chair. Please be advised that there could be delays based on the number of calls received. Members of the public will be afforded three (3) minutes each to address the LDFA Board under Public Comment. The Chair, with LDFA Board approval, may shorten this time in order to provide all members of the public a reasonable opportunity to speak. As always, residents are encouraged to email any questions they may have on any agenda item to the LDFA at cityhall@sterling-heights.net. MEETING CALLED TO ORDER PLEDGE OF ALLEGIANCE ROLL CALL APPROVAL OF AGENDA CONSENT AGENDA A. August 31, 2021 Special Meeting Minutes B. To approve the Shared Workspace Lease Agreement between Quentin Forgues (Tracker Technologies) and the Local Development Finance Authority (LDFA). The Agreement is a month-tomonth at a rate of $100/month.  C. To accept the proposal by Mando Construction, Inc (75 Lafayette Street, Suite 100, Mount Clemens, MI 48043) for the remodel of Velocity in the amount of $23,675.00 – Ceiling Tile Grid. D. To accept the proposal by LaBelle Electrical Contractors, LLC (241 Church Street, Mount Clemens, MI 48043) for the remodel of Velocity in the amounts of $11,825.00 – Exterior Building Light Replacement; $6,350.00 – BUZZI Space Lighting Buildout; $19,490.00 – Focal Point Conference Buildout. E. To accept the proposal by Office Express (1280 E. Big Beaver, Troy, MI 48083) for furniture in the amount of $103,511.68. NEW BUSINESS 1. To approve the Renewal Insurance Premium between the Michigan Municipal Risk Management Authority and the Local Development Finance Authority (LDFA). 2. To approve the Lease Agreement between Linked, LLC and the Local Development Finance Authority (LDFA). OLD BUSINESS PUBLIC COMMENT ADJOURNMENT The LDFA will provide necessary reasonable auxiliary aids and services to individuals with disabilities at the meeting upon 7 days notice to Community Relations Department at 446-CITY.  CITY OF STERLING HEIGHTS LOCAL DEVELOPMENT FINANCE AUTHORITY Draft MINUTES OF THE SPECIAL MEETING August 31, 2021 – 8:00 a.m. 6633 18 Mile Road, Sterling Heights, MI 48314 586-884-9322 VideoConference and TeleConference Phil Hunsberger called the meeting to order at 8:01 a.m. Pledge of Allegiance Members present at roll call: Dr. Michael Balsamo, Phil Hunsberger, Laurel Johnson, John Lettang, Dominic Patrus, Steve Pomaville, Jeanne Schabath-Lewis, Howard Sizemore Members absent: Bill Holbrook, Ellanore Evans, Josh Hundt, Robert Ljucovic, Camille Silda, Jill Tomyn Also in attendance: Luke Bonner, CEO Bonner Advisory Group, Senior Economic Development Advisor – City of Sterling Heights; Jason Castor, City Development Director – City of Sterling Heights; Kathryn Quell, Management Services Specialist – City of Sterling Heights Motion to Approve the Agenda Moved by Lettang, supported by Pomaville, to approve the agenda as presented. Ayes: All Nays: None Motion carried. Motion to Approve the CONSENT AGENDA as presented Moved by Patrus, supported by Johnson, to approve the Consent Agenda as presented. A. To approve the minutes of the Special Meeting of June 28, 2021. B. To approve the Shared Workspace Lease Agreement between Chinaka Njoku (Tasen) and the Local Development Finance Authority (LDFA). The Agreement is a 6-month term at a rate of $0/month. Mr. Bonner stated that Tasen is developing software for safe transcript delivery. Mr. Bonner is working with Mr. Njoku to develop his start up company. Funding is being provided through programming at Ann Arbor SPARK for four interns from Grand Valley State University. Mr. Bonner is assisting Mr. Njoku with his pitch deck, business plan, business case, targeting customers and obtaining a mentor. C. To approve the Shared Workspace Lease Agreement between Josephine Attisha (Lucidity Grants) and the Local Development Finance Authority (LDFA). The Agreement is a 6-month term at a rate of $0/month.  Mr. Bonner stated Lucidity Grants is a company developing a SalesForce application to address grant writing. Mr. Bonner has assisted Lucidity Grants by spending $5000 with a certified brand strategist to develop website, platform, and brand strategy. They are from Sterling Heights and will be utilizing the co-working space mainly for meetings. D. To approve the Lease Renewal Agreement between Michigan Economic Development Corporation and the Local Development Finance Authority (LDFA). The renewal is for an 11 month period November 1, 2020 thru September 30, 2021 for spaces #1-A, #1-B, and #1-G at a rate of $900.00/month. E. To accept the proposal by Mando Construction, Inc (75 Lafayette Street, Suite 100, Mount Clemens, MI 48043) for the remodel of Velocity in the amount of $24,275.00 – Ceiling Tile Grid. F. To accept the proposal by LaBelle Electrical Contractors, LLC (241 Church Street, Mount Clemens, MI 48043) for the remodel of Velocity in the amounts of $6,250.00 – Recessed Can Retrofit; $13,630.00 – Corridor Lighting; $46,500.00 – Large Conference Room; $10,500.00 – Assembly Mural Lighting. Ayes: All Nays: None Motion carried. New Business Mr. Bonner provided an update regarding Alchemist Ventures. He stated that internally the Alchemist team could not agree and execute plans. Alchemist withdrew from the contract and the group has disbanded. From the RFP, the second group was Plug and Play. The person who presented last year, resigned six months ago from Plug & Play. Since the interview process, TechStars has reached out to follow up. Mr. Bonner stated that we will be going through the RFP process again and it may bring new groups to consider. Mr. Pomaville inquired if Mr. Bonner was aware of the discention with Alchemist Ventures. Mr. Bonner stated that he and Ms. Quell met with Alchemist Ventures weekly. Around six months ago, both Mr. Bonner and Ms. Quell noticed a lack of execution. The meetings became more disorganized. It was apparent that the group of Alchemist Ventures was not on the same page. Alchemist Ventures never came back to present to the LDFA Board and rather asked for more time. Mr. Bonner stated that Alchemist Ventures was working on things not relevant to the LDFA. Mr. Bonner stated tht he communicated to Alchemist Ventures that they stay focused. Mr. Pomaville stated that the scope of what is required to fill the position has a learning curve and may be difficult to find a group with the skill sets we are seeking. Mr. Bonner replied that an organization from southeast Michigan that has experience and being able to execute would be ideal. Mr. Hunsberger inquired if hiring an employee versus an outside company has been considered. Mr. Bonner stated that it was considered but not feasible given the complexity of the organization of the City’s union structure. Mr. Bonner stated that we are planning to proceed with the RFP process and he is open to suggestions that the Board may have. Old Business Public Comment None Adjournment Moved by Pomaville, supported by Lettang to adjourn. Ayes: All Nays: None Motion carried. The meeting adjourned at 8:37am ELECTRICAL C ELECTRICAL CONTRACTORS October 14, 2021 Velocity Center 6633 Eighteen Mile Rd Sterling Heights, MI 48314 Attn: Kathryn Quell Reference: BUZZI SPACE Lighting Build Out, revised We are pleased to submit our proposal for the following electrical work. Our quote is based on our site walk through and inspection Price Includes  Install a total of (2) BUZZI SPACE multi-level lights (lights provided by ISCG Design Group)  Install support systems from structure above drop ceiling for the new BUZZI SPACE lights  Furnish and install (6) LITHONIA EVO6 recessed lights with (2) with emergency backup battery  Utilize existing switch box and load side wiring for connections to the new lights  Provide and install a new decora style switches with stainless steel finish plates  Wipe down and vacuum clean of all construction debris  Remove and dispose of all fixtures being replaced  Tax and freight charges  Permits and permit fees  Labor, tools, and materials Price Excludes  Drywall repairs or paint  Overtime or shift work. Lithonia Lighting Package $1,850.00 Labor and Materials $4,500.00 Total Price $6,350.00 Should you have any questions, please feel free to contact me. Thank you for the opportunity. Sincerely, LaBelle Electrical Contractors, LLC Mike Jenks Service Manager 241 CHURCH STREET • MOUNT CLEMENS, MICHIGAN 48043 TEL. (586) 598-7360 • FAX (586) 598-7363  OMNIA PARTNERS CONTRACT Date: 9/1/2021 Rep: Steve Victory 1280 E. Big Beaver Road Troy, Michigan 48083 p. (877) 795-2600 Prepared For: Velocity Training Center f. (877) 792-8110 Project Name: Events Center + Front Training Room www.oexusa.com Purchase Price Line # Qty. Product Unit Extended Events Center 1 50 Rectangle Top 24"D x 66"W, 1-piece $206.15 $10,307.50 Top Finish and Edge Standard Laminate - 3mm Edge Laminates Wilsonart High Rise (4996-38) Cable Mgmt Powerlex Grommets (one left, one right) 2 50 Zori Folding T-Leg, Casters, for 24"D Table (22" spread), Pkg. of 2 $439.95 $21,997.50 Accent Foot Trim Standard Foot Caster Color Black Paint Options Silver 3 100 Orbix. Wire Rod Chair, Upholstered Seat, Plastic Back, Armless $202.84 $20,284.00 Frame Finish Chrome Frame Glide Option Selection No Glides Plastic Shell Color Selection Slate Fabric Grade Selection Fabric Grade 7 Fabric Grade 7 Selections No Selection CF STINSON SIROCCO DREAM Packaging Options Fully Assembled in Carton 4 4 Stacking Cart (Orbix Stacks 25 per cart) $175.56 $702.24 Subtotal: $53,291.24 Events Lounge Page 1 of 6  Purchase Price Line # Qty. Product Unit Extended 5 1 BeSPACE Modular 74W Chaise Lounge, Left $3,533.28 $3,533.28 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Seat Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Canter EPU Canter EPU Colors Night Back Fabric Grade Selection Grade I (Back Fabric) Grade I Fabric Manufacturer Selection Stinson Fabric Stinson Grade I Fabrics Brushwork 65462 AURORA Deck & Arm(s) Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Canter EPU Canter EPU Colors Night Highest Fabric/Leather Grade Selected (BS) Grade I (Highest Grade Selected) Metal Leg Color Pewter (Metal Leg Color) 6 1 BeSPACE Modular 74W Chaise Lounge, Right $3,533.28 $3,533.28 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Seat Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Canter EPU Canter EPU Colors Night Back Fabric Grade Selection Grade I (Back Fabric) Grade I Fabric Manufacturer Selection Stinson Fabric Stinson Grade I Fabrics Brushwork 65462 AURORA Deck & Arm(s) Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Canter EPU Canter EPU Colors Night Highest Fabric/Leather Grade Selected (BS) Grade I (Highest Grade Selected) Metal Leg Color Pewter (Metal Leg Color) 7 1 BeSPACE Modular Square Table, 24D x 24W x 16 1/4 H $499.20 $499.20 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Metal Leg Color Pewter (Metal Leg Color) Power Center (BS) No Power Center Selected Page 2 of 6  Purchase Price Line # Qty. Product Unit Extended 8 1 BeSPACE Modular 72W Angled Bench, Left $1,215.84 $1,215.84 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Seat Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Canter EPU Canter EPU Colors Night Deck Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Canter EPU Canter EPU Colors Night Highest Fabric/Leather Grade Selected (BS) Grade C/COL (Highest Grade Selected) Metal Leg Color Pewter (Metal Leg Color) 9 8 BeSPACE Modular 24 Straight Bench $965.76 $7,726.08 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Seat Fabric Grade Selection Grade F Grade F Fabric Manufacturer Selection Maharam Maharam Grade F Fabrics Cosset AQUIFER Deck Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Canter EPU Canter EPU Colors Night Highest Fabric/Leather Grade Selected (BS) Grade F (Highest Grade Selected) Metal Leg Color Pewter (Metal Leg Color) 10 5 CITI SQUARE, Fabric, 21.5"d x 64.5"w x 17"h, 3 Seat Bench, Std with Square $658.33 $3,291.65 Metal Legs, GLOBAL SEATING USA Citi Square Textile Grade 05 Citi / Citi Square Grade 05 Textile Endurance EPU (Momentum) Endurance EPU (Momentum) 1-Armor (Seat) Sprout (Apron) Citi Frame and Leg Finish F-Tungsten, Frame and Square Legs [TUN] Citi Seat Foam M-Standard Seat Foam Subtotal: $19,799.33 Front Training Rm Lounge Page 3 of 6  Purchase Price Line # Qty. Product Unit Extended 11 1 BeSPACE Modular 72W Partial Back Bench, Left $1,933.92 $1,933.92 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Seat Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Endurance EPU Endurance EPU Colors Jetty Back Fabric Grade Selection Grade E (Back Fabric) Grade E Fabric Manufacturer Selection Stinson Fabric Stinson Grade E Fabrics Charlotte Deck Fabric Grade Selection Grade D Grade D Fabric Manufacturer Selection Stinson Fabric Stinson Grade D Fabrics Clean Slate RED Highest Fabric/Leather Grade Selected (BS) Grade E (Highest Grade Selected) Metal Leg Color Matte Black (Metal Leg Color) 12 1 BeSPACE Modular 72W Partial Back Bench, Right $1,933.92 $1,933.92 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Seat Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Endurance EPU Endurance EPU Colors Jetty Back Fabric Grade Selection Grade E (Back Fabric) Grade E Fabric Manufacturer Selection Stinson Fabric Stinson Grade E Fabrics Charlotte Deck Fabric Grade Selection Grade D Grade D Fabric Manufacturer Selection Stinson Fabric Stinson Grade D Fabrics Clean Slate RED Highest Fabric/Leather Grade Selected (BS) Grade E (Highest Grade Selected) Metal Leg Color Matte Black (Metal Leg Color) 13 2 BeSPACE Modular Square Table, 24D x 24W x 16 1/4 H $768.00 $1,536.00 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Metal Leg Color Matte Black (Metal Leg Color) EC22 Power Center (Front Panel) Power Center (BS) Black Page 4 of 6  Purchase Price Line # Qty. Product Unit Extended 14 2 BeSPACE Modular 48W Straight Bench $896.64 $1,793.28 Wood Species Rift Cut White Oak Rift Cut White Oak Finish Options Clear on White Oak Seat Fabric Grade Selection Grade C/COL Grade C Fabric Manufacturer Selection Momentum Fabrics Momentum Grade C Fabrics Endurance EPU Endurance EPU Colors Jetty Deck Fabric Grade Selection Grade D Grade D Fabric Manufacturer Selection Stinson Fabric Stinson Grade D Fabrics Clean Slate RED Highest Fabric/Leather Grade Selected (BS) Grade D (Highest Grade Selected) Metal Leg Color Matte Black (Metal Leg Color) Subtotal: $7,197.12 Front Training Room 15 24 Movi, Nesting Chair, Mesh Back, Fixed Arm $402.60 $9,662.40 Back Frame & Arm Color Black Base Finish Black Base Caster Color Black Caster Selecton Hard Floor and Carpet Casters Movi Mesh Back Colors Nickel Mesh CA Technical Bulletin 133 Fire Std Option for Fabric Selection No Selection Fabric Grade Selection Fabric Grade 8 Fabric Grade 8 Selection CF Stinson Hexie 65670 RING Packaging Options Fully Assembled in Carton 16 12 Zori 24"D Straight T-Leg Flip Table 72"W Top w/ 3mm Edge $584.85 $7,018.20 Paint Options Black Routing Holes Option No routing holes in leg Cable Mgmt No Cable Management Wksf Laminate Wilsonart High Rise (4996-38) Caster Color Black Accent Foot Trim Standard Foot Subtotal: $16,680.60 Page 5 of 6  Purchase Price Line # Qty. Product Unit Extended Design Fee $0.00 $0.00 Global Surcharge $181.04 $181.04 JSI Surchage $1,162.35 $1,162.35 Deliver + Install $5,200.00 $5,200.00 Total: $103,511.68 Page 6 of 6  LDFA Business Sterling Heights, Michigan 10/15/21 AGENDA STATEMENT OMB AS03 Rev. 11/04 Item Title: To approve the Renewal Insurance Premium between the Michigan Municipal Risk Management Authority and the Local Development Fiannce Authority (LDFA). Submitted By: Kathryn Quell, Building Services Specialist Executive Summary Attached for LDFA review is a December 15, 2021 thru December 15, 2022 renewal insurance premium. Note the cost is $12,470, however the LDFA is recovering $3256 back in Net Asset Distributions and Loss Fund Distributions, for a net cost of $9214. Suggested Action: MOVED BY: SECONDED BY: RESOLVED: to approve the Renewal Insurance Premium between the Michigan Municipal Risk Management Authority and the Local Development Finance Authority (LDFA).  Community: Sterling Heights LDFA Renewal period: Dec 15, 2021 to Dec 15, 2022 Reasons for Premium Change 2020 2021 % Change Ratable Expenditures: FT employees 0 0 0.0% PT employees 0 0 0.0% Seasonal PT 0 0 0.0% Property Values: $7,314,410 $7,745,169 5.9% EDP $1,000,000 $1,000,000 0.0% SOTB/PIO 151,900 $151,900 0.0% UAV/Drone: N/A N/A Coverages Does not Include: Sewer, Auto Liability/Physical Damange $5M, Pool w/ $1,000 Property deductible Other: 2020-21: 0.4% 2019-20: -17.3% 2018-19: 4.1% 2017-18: 2.3% 2016-17: 2.2% 2015-16: 16.9% 2014-15: 7.5% 2013-14: -2.3% Total Contribution Property Totals Last Year $12,611 $7,314,410 This Year $12,470 $7,745,169 Total Change -$141 $430,759 % Change (+ -) -1.1% 5.9% Notes: New MMRMA property adjuster, Tracey Cool, tcool@mmrma.org No RAP Grants Net Asset Distribution Loss Fund Distribution Total 2012 MMRMA Distribution: $889 $889 KD 2013 MMRMA Distribution: $518 $518 KD 2014 MMRMA Distribution: $2,384 $2,384 KD 2015 MMRMA Distribution: $3,065 $347 $3,412 KE 2016 MMRMA Distribution: $1,771 $170 $1,941 KE 2017 MMRMA Distribution: $1,610 $222 $1,832 KE 2018 MMRMA Distribution: $2,176 $336 $2,512 MR 2019 MMRMA Distribution: $2,489 $387 $2,876 MR 2020 MMRMA Distribution: $4,063 $298 $4,361 MR 2021 MMRMA Distribution: $3,030 $226 $3,256 MR $21,995 $1,986 $23,981  MICHIGAN MUNICIPAL RISK MANAGEMENT AUTHORITY COVERAGE PROPOSAL Member: Sterling Heights LDFA Proposal No: Q000013273 Date of Original Membership: December 15, 2010 Proposal Effective Dates: December 15, 2021 To December 15, 2022 Member Representative: Jeff Bahorski Telephone #: (586) 446-2313 Regional Risk Manager: Ibex Insurance Agency Telephone #: (248) 538-0470 A. Introduction The Michigan Municipal Risk Management Authority (hereinafter "MMRMA") is created by authority granted by the laws of the State of Michigan to provide risk financing and risk management services to eligible Michigan local governments. MMRMA is a separate legal and administrative entity as permitted by Michigan laws. Sterling Heights LDFA (hereinafter "Member") is eligible to be a Member of MMRMA. Sterling Heights LDFA agrees to be a Member of MMRMA and to avail itself of the benefits of membership. Sterling Heights LDFA is aware of and agrees that it will be bound by all of the provisions of the Joint Powers Agreement, Coverage Documents, MMRMA rules, regulations, and administrative procedures. This Coverage Proposal summarizes certain obligations of MMRMA and the Member. Except for specific coverage limits, attached addenda, and the Member's Self Insured Retention (SIR) and deductibles contained in this Coverage Proposal, the provisions of the Joint Powers Agreement, Coverage Documents, reinsurance agreements, MMRMA rules, regulations, and administrative procedures shall prevail in any dispute. The Member agrees that any dispute between the Member and MMRMA will be resolved in the manner stated in the Joint Powers Agreement and MMRMA rules. B. Member Obligation - Deductibles and Self Insured Retentions Sterling Heights LDFA is responsible to pay all costs, including damages, indemnification, and allocated loss adjustment expenses for each occurrence that is within the Member's Self Insured Retention (hereinafter the "SIR"). Sterling Heights LDFA's SIR and deductibles are as follows: 12/15/21 To 12/15/22 Page 1 of 7 Sterling Heights LDFA  Table I Member Deductibles and Self Insured Retentions COVERAGE DEDUCTIBLE SELF INSURED RETENTION Liability N/A State Pool Member N/A Vehicle Physical Damage N/A Fire/EMS Replacement Cost N/A N/A Property and Crime $1,000 Per Occurrence N/A Sewage System Overflow N/A N/A The member must satisfy all deductibles before any payments are made from the Member's SIR or by MMRMA. The Sterling Heights LDFA is afforded all coverages provided by MMRMA, except as listed below: 1. Liability for Owned or Leased Motor Vehicles 2. Motor Vehicle Physical Damage 3. Sewage System Overflow 4. Specialized Emergency Response Expense Recovery Coverage All costs including damages and allocated loss adjustment expenses are on an occurrence basis and must be paid first from the Member's SIR. The Member's SIR and deductibles must be satisfied fully before MMRMA will be responsible for any payments. The most MMRMA will pay is the difference between the Member's SIR and the Limits of Coverage stated in the Coverage Overview. Sterling Heights LDFA agrees to maintain the Required Minimum Balance as defined in the Member Financial Responsibilities section of the MMRMA Governance Manual. The Member agrees to abide by all MMRMA rules, regulations, and administrative procedures pertaining to the Member's SIR. C. MMRMA Obligations - Payments and Limits of Coverage After the Member's SIR and deductibles have been satisfied, MMRMA will be responsible for paying all remaining costs, including damages, indemnification, and allocated loss adjustment expenses to the Limits of Coverage stated in Table II. The Limits of Coverage include the Member's SIR payments. The most MMRMA will pay, under any circumstances, which includes payments from the Member's SIR, per occurrence, is shown in the Limits of Coverage column in Table II. The Limits of Coverage includes allocated loss adjustment expenses. 12/15/21 To 12/15/22 Page 2 of 7 Sterling Heights LDFA  Table II Limits of Coverage Limits of Coverage Per Occurrence Annual Aggregate Liability and Motor Vehicle Physical Damage Member All Members Member All Members 1 Liability 5,000,000 N/A N/A N/A 2 Judicial Tenure N/A N/A N/A N/A 3 Sewage System Overflows 0 N/A 0 N/A 4 Volunteer Medical Payments 25,000 N/A N/A N/A 5 First Aid 2,000 N/A N/A N/A 6 Vehicle Physical Damage 0 N/A N/A N/A 7 Uninsured/Underinsured Motorist Coverage 0 N/A N/A N/A (per person) Uninsured/Underinsured Motorist Coverage 0 N/A N/A N/A (per occurrence) 8 Michigan No-Fault 0 N/A N/A N/A 9 Terrorism 5,000,000 N/A N/A 5,000,000 Limits of Coverage Per Occurrence Annual Aggregate Property and Crime Member All Members Member All Members 1 Buildings and Personal Property 8,745,169 350,000,000 N/A N/A 2 Personal Property in Transit 2,000,000 N/A N/A N/A 3 Unreported Property 5,000,000 N/A N/A N/A 4 Member's Newly Acquired or Constructed Property 10,000,000 N/A N/A N/A 5 Fine Arts 2,000,000 N/A N/A N/A 6 Debris Removal (25% of Insured direct loss plus) 25,000 N/A N/A N/A 7 Money and Securities 1,000,000 N/A N/A N/A 8 Accounts Receivable 2,000,000 N/A N/A N/A 9 Fire Protection Vehicles, Emergency Vehicles, and 10,000,000 5,000,000 N/A N/A Mobile Equipment (Per Unit) 10 Fire and Emergency Vehicle Rental (12 week limit) 1,000 per week N/A N/A N/A 11 Structures Other Than a Building 15,000,000 N/A N/A N/A 12 Dam/Dam Structures/Lake Level Controls 0 N/A N/A N/A 13 Transformers 0 N/A N/A N/A 14 Storm or Sanitary Sewer Back-Up 1,000,000 N/A N/A N/A 15 Marine Property 1,000,000 N/A N/A N/A 16 Other Covered Property 10,000 N/A N/A N/A 17 Income and Extra Expense 5,000,000 N/A N/A N/A 18 Blanket Employee Fidelity 1,000,000 N/A N/A N/A 19 Faithful Performance Per Statute N/A N/A N/A 20 Earthquake 5,000,000 N/A 5,000,000 100,000,000 21 Flood 5,000,000 N/A 5,000,000 100,000,000 22 Terrorism 50,000,000 50,000,000 N/A N/A 12/15/21 To 12/15/22 Page 3 of 7 Sterling Heights LDFA  Table III Network and Information Security Liability, Media Injury Liability, Network Security Loss, Breach Mitigation Expense, PCI Assessments, Social Engineering Loss, Reward Coverage, Telecommunications Fraud Reimbursement. Limits of Coverage Per Deductible Per Occurrence/Claim Occurrence/Claim Retroactive Date $5,000,000 Coverage A Each Claim Nework and Included in limit above Information Security $25,000 Each Claim 7/1/2013 Liability: Each Claim Regulatory Fines: Included in limit above Coverage B Each Claim $25,000 Each Claim 7/1/2013 Media Injury Liability Included in limit above Coverage C Each Unauthorized Access $25,000 Each Unauthorized Network Security Loss Included in limit above Access Occurrence Network Security Each Business Interruption Retention Period of Business Interruption Loss 72 hours of Business Loss: Included in limit above Interruptoin Loss Coverage D Each Unintentional Data Each Unintentional Breach Mitigation Compromise $25,000 Occurrence Data Compromise Expense: Included in limit above Coverage E Each Payment Card Breach $1,000,000 Occ./$1,000,000 Each Payment Card $25,000 Occurrence Agg. Breach PCI Assessments: Included in limit above Coverage F Each Social Engineering Each Social Incident $25,000 Engineering Incident Occurrence Social Engineering $100,000 Occ./$100,000 Agg Loss: Included in limit above Coverage G Maximum of 50% of the Covered Claim or Loss; up Not Applicable Occurrence Reward Coverage to $25,000 Included in Limit above Coverage H $25,000 Included in limit above Not Applicable Occurrence Telecommunications Fraud Reimbursement Annual Aggregate Limit of Liability Member Aggregate All Members Aggregate $5,000,000 $25,000,000 The total liability of MMRMA shall not exceed $5,000,000 per Member Aggregate Limit of Liability for coverages A, B, C,To 12/15/21 D, E, F, G, and H, in any Coverage Period. Page 4 of 7 12/15/22 Sterling Heights LDFA  The total liability of MMRMA shall not exceed $5,000,000 per Member Aggregate Limit of Liability for coverages A, B, C, D, E, F, G, and H, in any Coverage Period. The total Liability of MMRMA and MCCRMA shall not exceed $25,000,000 for All Members Combined Aggregate Limit of Liability for coverages A, B, C, D, E, F, G, and H, in any Coverage Period. It is the intent of MMRMA that the coverage afforded under the Subjects of Coverage be mutually exclusive. If however, it is determined that more than one Subject of Coverage applies to one coverage event ensuing from a common nexus of fact, circumstance, situation, event, transaction, or cause, then the largest of the applicable Deductibles for the Subjects of Coverage will apply. 12/15/21 To 12/15/22 Page 5 of 7 Sterling Heights LDFA  Table IV Specialized Emergency Response Expense Recovery Coverage Limits of Coverage Specialized Emergency Response Limits of Coverage per Occurrence Annual Aggregate Expense Recovery Member All Members Member All Members N/A N/A N/A N/A Table V Specialized Emergency Response Expense Recovery Coverage Deductibles Specialized Emergency Response Deductible per Occurrence Expense Recovery Member N/A 12/15/21 To 12/15/22 Page 6 of 7 Sterling Heights LDFA D. Contribution for MMRMA Participation Sterling Heights LDFA Period: December 15, To December 15, 2022 2021 Coverages per Member Coverage Overview: $12,470 TOTAL ANNUAL CONTRIBUTIONS: $12,470 E. List of Addenda This document is for the purpose of quotation only and does not bind coverage in the Michigan Municipal Risk Management Authority, unless accepted and signed by both the authorized Member Representative and MMRMA Representative below. Accepted By: Proposal No: Sterling Heights LDFA Q000013273 MMRMA Member Representative MMRMA Representative 9-23-2021 Date Date 12/15/21 To 12/15/22 Page 7 of 7 Sterling Heights LDFA  MICHIGAN MUNICIPAL RISK MANAGEMENT AUTHORITY PROPERTY AND CRIME DOCUMENT SECTION 2 COVERED PROPERTY: MEMBER BUILDINGS AND PERSONAL PROPERTY A. MEMBER’S BUILDING Member building means an existing structure roofed and walled on file with MMRMA and includes the following if attached to the building or within 1,000 feet of the building: 1. Incomplete additions and all component parts; 2. Permanently installed fixtures, machinery and equipment; and 3. Indoor and outdoor equipment, signs, fixtures and personal property used to maintain or service the building. 4. Building does not mean: g. Electrical poles, power lines and transformers; or A. MEMBER’S BUILDING Member building means an existing structure roofed and walled on file with MMRMA and includes the following if attached to the building or within 1,000 feet of the building: 4. Building does not mean: e. Foundations or supports below the surface of the lowest floor or basement; f. Underground pipes, flues, drains and appurtenances thereto; g. Electrical poles, power lines, transformers; or D. MEMBER’S PERSONAL PROPERTY AT ANY LOCATION 1. Personal property means the Member’s property other than real estate in which the Member has an insurable interest. Personal property also includes: a. The Member’s interest in labor, materials and services furnished or arranged by the Member on personal property of others; and b. The Member’s improvements and betterments to buildings and glass in structures not owned by the Member. 2. Personal property does not mean: l. Electrical poles, power lines and transformers; D. MEMBER’S PERSONAL PROPERTY AT ANY LOCATION 1. Personal property means the Member’s property other than real estate in which the Member has an insurable interest. Personal property also includes: a. The Member’s interest in labor, materials and services furnished or arranged by the Member on personal property of others; and b. The Member’s improvements and betterments to buildings and glass in structures not owned by the Member. 2. Personal property does not mean: l. Electrical poles, power lines, transformers; m. Buildings, structures, or other real property; or n. Personal property in transit.  SECTION 3 ADDITIONAL COVERED PROPERTY AND LIMITS OF COVERAGE H. FIRE OR EMERGENCY VEHICLES 2. Each vehicle, and its maximum replacement value, must be on file with MMRMA. 3. If the Member actually replaces or repairs the vehicle, the most MMRMA will pay is either the actual replacement or repair cost, not to exceed the maximum replacement value for that specific vehicle on file with MMRMA. The most MMRMA will pay, per occurrence, is the limits of coverage for aggregate Fire or Emergency Vehicles stated in the Coverage Overview. If the Member does not replace or repair the vehicle, the most MMRMA will pay is the actual cash value of the vehicle immediately prior to the loss. H. FIRE OR EMERGENCY VEHICLES 2. Each vehicle, and its maximum replacement value or agreed amount, must be on file with MMRMA. Replacement valuation will apply only to Member Fire or Emergency vehicles with a model year that does not exceed fifteen (15) years at time of reporting. The most MMRMA will pay for any fire or emergency vehicle with a model year that exceeds fifteen (15) years is agreed amount or actual cash value. 3. If the Member actually replaces or repairs the vehicle, the most MMRMA will pay is either the actual replacement or repair cost, not to exceed the maximum replacement value or agreed amount for that specific vehicle on file with MMRMA. The most MMRMA will pay per occurrence, is the limits of coverage for aggregate Fire or Emergency Vehicles stated in the Coverage Overview. If the Member does not replace or repair the vehicle, the most MMRMA will pay is the actual cash value of the vehicle immediately prior to the loss. J. STRUCTURES OTHER THAN A BUILDING 1. Structures other than a building means the Member’s real estate that is not roofed and walled. It includes, by way of illustration but not limitation, the Member’s dams, tunnels, and bridges. The items listed in Section 2A(4) of this Coverage Document are not Structures Other Than a Building. J. STRUCTURES OTHER THAN A BUILDING 1. Structures other than a building means the Member’s real estate that is not roofed and walled. It includes, by way of illustration but not limitation, the Member’s tunnels and bridges. The items listed in Section 2A(4) of this Coverage Document are not Structures Other Than a Building. N. TRANSFORMERS 1 Transformer means any device used to receive current at one voltage, and deliver the same current at a different voltage. 2. The most MMRMA will pay for loss or damage to the Member’s transformers is the Member’s actual loss up to $2,500,000. 3. Member transformers with values excess of $2,500,000 may be granted coverage, if reported and accepted by MMRMA prior to loss. 4. The following are excluded: Any transformer attached to or a part of electrical poles or power lines. O. DAMS AND INLAND LAKE LEVEL CONTROLS 1. MMRMA will pay for the actual cost to repair or replace any loss or damage to a covered property from a covered cause of loss subject to the limits of coverage for Member’s Dams as stated below. 2. Dam means any artificial barrier including appurtenant works, that impounds, diverts, or is designed to impound or divert water or a combination of water and any other liquid or material in the water; that is or will be when complete 6 feet or more in height; and that has or will have an impounding capacity at design flood elevation of 5 surface acres or more. Appurtenant works means the structure and machinery incident to or annexed to a dam that is built to operate and maintain a dam, including spillways, either in a dam or separate from the dam; lower level outlet works; and water conduits such as tunnels, pipelines, or penstocks, located either through the dam or through the abutments of the dam. 3. Inland lake means a natural or artificial lake, pond, impoundment, or a part of one of those bodies of water. Inland lake does not include the Great Lakes or Lake St. Clair. A dam used to regulate or maintain the level of an inland lake means an artificial barrier, structure, or facility and appurtenant works. 4. Dam does not mean: a. storage or processing tank or standpipe constructed of steel or concrete; b. dikes, embankments including earthen or any other material; or c. dug pond where there is no impoundment of water or waste materials containing water at levels above adjacent natural grade levels; 5. The most MMRMA will pay if the Member repairs or replaces the dam or inland lake level controls is the replacement cost provided by the Member and accepted by and on file with MMRMA up to a maximum of $15,000,000 per occurrence. Member is not required to provide appraisal of inland lake level controls valued with a replacement cost less than $250,000. 6. The most MMRMA will pay if Member does not provide replacement cost is the actual cash value or agreed amount provided by the Member and accepted by and on file with MMRMA of the dam or inland lake level controls immediately prior to loss or damage.  SECTION 5 EXCLUSIONS FOR ALL COVERAGES PROVIDED IN THIS COVERAGE DOCUMENT V. COMMUNICABLE DISEASE The exclusion set forth in Paragraph 1 and 2 below applies to all coverage under all forms and endorsements that comprise this Coverage Document, including but not limited to forms or endorsements that cover property damage to buildings or personal property and forms or endorsements that cover business income, extra expense, rental value, or action of civil authority. 1. MMRMA will not pay for any loss, damage, liability, claim, cost, or expense of whatsoever nature, directly or indirectly caused by, contributed to by, resulting from, arising out of, or in connection with a Communicable Disease or the fear or threat (whether actual or perceived) of a Communicable Disease regardless of any other cause or event contributing concurrently or in any sequence thereto. As used herein, a Communicable Disease includes, but is not limited to, a virus, bacterium, pathogen, fungus, parasite, or other microorganism or any variation thereof, whether deemed living or not, that induces or is capable of inducing physical distress, illness, disease, or can cause or threaten damage to human health or human welfare. 2. MMRMA will not pay for loss or damage caused by, or in response to any pandemic or epidemic. 3. With respect to any loss or damage subject to the exclusion in Paragraph 1 and 2, above, such exclusion supersedes any exclusion relating to “pollutants.” 4. The terms of the exclusion in Paragraph 1 and 2, above, or the inapplicability of this exclusion to a particular loss, do not serve to create coverage for any loss that would otherwise be excluded under this Coverage Document. W. Any coverage provided by the Michigan Municipal Risk Management Authority Data Breach and Privacy Liability Coverage Document, which is incorporated for this Exclusion only.  SECTION 10 DEFINITIONS - ALL COVERAGES 8. POLLUTANTS means any solid, liquid, gaseous, or thermal irritant or contaminant, including by way of illustration but not limitation: smoke, vapor, soot, fumes, acids, alkalis, asbestos, chemicals, electromagnetic fields, lead, lead paint, radon, chlorofluorocarbons, organisms or micro-organisms including bacteria, fungus, molds or their spores or products, viruses or other pathogens, and waste. Waste includes materials to be recycled, reconditioned, or reclaimed 8. POLLUTANTS means any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals, waste, perfluoroalkyl or polyfluoroalkyl substances, and any unhealthy or hazardous building materials (including but not limited to asbestos and lead products or materials containing lead). Waste includes materials to be recycled, reconditioned, or reclaimed. Pollutants also includes electromagnetic fields, lead, lead paint, radon, chlorofluorocarbons, organisms or microorganisms including bacteria, fungus, molds, or their spores or products, viruses, or other pathogens.  MICHIGAN MUNICIPAL RISK MANAGEMENT AUTHORITY LIABILITY AND MOTOR VEHICLE PHYSICAL DAMAGE COVERAGE DOCUMENT SECTION 2 EXCLUSIONS Coverage is not provided for any demand, notice, claim or lawsuit alleging bodily injury, property injury, personal injury or other subjects of coverage as set forth in Section 1 resulting directly, indirectly or consequentially from, in, or due to any of the following: X. Communicable Disease: This Exclusion shall apply to any loss, damage, liability, compensation, injury, sickness, disease, death, medical payment, defense cost, cost, expense, or any other amount incurred by or accruing, directly or indirectly, originating from, caused by, contributed to by, resulting from, arising out of, or in connection, or any nature whatsoever caused by, arising out of, related to, or resulting from, directly or indirectly, in whole or in part: 1. Any Communicable Disease or the fear or threat (whether actual or perceived) of a Communicable Disease regardless of any other cause or event contributing concurrently or in any sequence thereto. As used herein, a Communicable Disease includes, but is not limited to, a virus, bacterium, pathogen, fungus, parasite, or other microorganism or any variation thereof, whether deemed living or not, that induces or is capable of inducing physical distress, illness, disease, or can cause or threaten damage to human health or human welfare. 2. Any action or inaction of any Member or any action or order of a governmental representative, authority, or agency undertaken to control, prevent, suppress, mitigate, test for, monitor, treat, or remediate the actual, suspected, or anticipated presence, existence, or transmission of any Communicable Disease; that actually or allegedly induces or is capable of inducing physical distress, illness, or disease. 3. Any action or inaction of any Member or any action or order of a governmental representative, authority, or agency undertaken in response to any pandemic or epidemic. 4. This Exclusion applies even if claims against any Member allege negligence or other wrongdoing in the: a. supervising, hiring, employing, training, or monitoring of others that may be infected with and spread a communicable disease, or b. failure to report disease to authorities. The addition of this exclusion does not imply that other Coverage Document provisions do not also exclude coverage for loss, damage, liability, compensation, injury, sickness, disease, death, medical payment, defense cost, cost, expense, or any other amount incurred by or accruing, directly or indirectly, originating from, caused by, contributed to by, resulting from, arising out of, in connection, or any nature whatsoever, caused by, arising out of, related to, or resulting from, directly or indirectly, in whole or in part, any Communicable Disease. Y. Any coverage provided by the Michigan Municipal Risk Management Authority Data Breach and Privacy Liability Coverage Document, which is incorporated for this Exclusion only.  SECTION 4 DEFINITIONS A. The following meanings shall apply to all coverages in this Coverage Document. 13. POLLUTANTS means any solid, liquid, gaseous, or thermal irritant or contaminant, including by way of illustration but not limitation: smoke, vapor, soot, fumes, acids, alkalis, asbestos, chemicals, electromagnetic fields, lead, lead paint, radon, chlorofluorocarbons, organisms or micro-organisms including bacteria, fungus, molds or their spores or products, viruses or other pathogens, and waste. Waste includes materials to be recycled, reconditioned, or reclaimed 13. POLLUTANTS means any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals, waste, perfluoroalkyl or polyfluoroalkyl substances, and any unhealthy or hazardous building materials (including but not limited to asbestos and lead products or materials containing lead). Waste includes materials to be recycled, reconditioned, or reclaimed. Pollutants also includes electromagnetic fields, lead, lead paint, radon, chlorofluorocarbons, organisms or microorganisms including bacteria, fungus, molds, or their spores or products, viruses, or other pathogens.  MICHIGAN MUNICIPAL RISK MANAGEMENT AUTHORITY Member: Sterling Heights LDFA QUOTE NUMBER Q000013273 QUOTE PROPERTY LIST REPORT EFFECTIVE DATES 12/15/2021 To 12/15/2022 Location Address Location Description 1. 6633 18 Mile, Sterling Heights, MI 48311 Incubator/Office Building Description Building Value Contents Value Total Value Office Building $7,717,081 $28,088 $7,745,169 Location Totals $7,717,081 $28,088 $7,745,169 Grand Totals Building Value Contents Value Total Value $7,717,081 $28,088 $7,745,169 Page 1 of 1  MICHIGAN MUNICIPAL RISK MANAGEMENT AUTHORITY Member: Sterling Heights LDFA QUOTE NUMBER Q000013273 QUOTE STRUCTURES OTHER THAN A BUILDING (SOTB) LIST REPORT EFFECTIVE DATES 12/15/2021 To 12/15/2022 Location / Description Value "Incubator/Office Office Building 6633 18 Mile Road 48311" $151,900 Grand Totals Total Value $151,900 Page 1 of 1  BLANKET FAITHFUL PERFORMANCE BOND CERTIFICATE OF PROTECTION KNOW ALL MEN BY THESE PRESENTS: This certificate is issued as a matter of information only and confers no rights upon the certificate holder unless amended below. This certifies that Sterling Heights LDFA as a member of this Authority has Blanket Faithful Performance Bond Protection in the amount of One Million Dollars ($ 1,000,000.00 ). Blanket Faithful Performance Description of Protection Fidelity (1) The Scope of Loss Fund Protection includes loss caused to the member by conversion to personal use or through the failure of any of the employees, acting alone or in collusion with others, to perform faithfully his duties or to account properly for all monies and property received by virtue of his position or employment during the period of membership in the Authority, the amount of indemnity of each of such employees being the amount indicated on the Limits of Liability. Section 2 General Agreement-Loss Under Prior Bond (1) If the protection of this provision is substituted for any prior coverage carried by the member which prior bond is terminated, cancelled or allowed to expire as of the time of such substitution, the member agrees that such agreement applies to loss sustained by, or caused to, the member, as the case may be, prior to or during the bond period, provided that such loss is discovered after the beginning of the period of membership and that such loss would have been recoverable by the member under such prior bond except for the fact that the time within which to bring suit, action or proceeding of any kind thereunder had expired, and provided further: (a) The indemnity afforded by this agreement shall be a part of and not in addition to the limit afforded above; (b) Such loss would have been covered under such insuring agreement had such insuring agreement with its agreements, conditions and limitations as of the time of such substitutions been in force when the acts or defaults causing such loss were committed; (c) Recovery under this agreement on account of such loss shall in no event exceed the amount which would have been recoverable under such insuring agreement in the amount for which it is written as of the time of such substitution, had such insuring agreement been in force when such acts or defaults were committed, or the amount which would have been recoverable under such prior bond had such prior bond continued in force until the discovery of such loss if the latter amount be smaller.  Section 3 Definitions (1) “Employee” means person while in the employ of the member during the period of membership. Section 4 Conditions (1) In case a loss is alleged to have been caused to the member through acts or defaults by an employee and the member shall be unable to designate the specific employee causing such loss, the member shall nevertheless have the benefit of this provision provided that the evidence submitted reasonably establishes that the loss was in fact caused by an employee through such acts or defaults and provided, further, that regardless of the number of such employees concerned or implicated in such loss, the aggregate liability for any such loss shall not exceed the limit of liability. (2) The limit of liability shall not be cumulative from year to year. (3) This provision shall be deemed to be cancelled as to any employee: (a) Immediately upon discovery by the member of any act on the part of such employee which would constitute a liability under this provision covering such employee; or (b) Upon the death, resignation or removal of such employee; or (c) Upon termination of membership in the Authority. Should the member indicated below withdraw from the Authority prior to the expiration date shown, the Authority shall notify the certificate holder in writing thirty (30) days in advance of such withdrawal, but failure to mail such notice shall impose no obligation or liability of any kind upon the Authority. Certificate Holder: Member: Sterling Heights LDFA Sterling Heights LDFA PO Box 8009 PO Box 8009 Sterling Heights, MI 48311-8009 Sterling Heights, MI 48311-8009 Expiration Date of Membership Continuous Until Cancelled Date Issued: December 15, 2021 Authorized Representative  LDFA Business Sterling Heights, Michigan 10/15/21 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: Kathryn Quell, Building Services Specialist, Velocity Executive Summary Attached for LDFA review is a Month-to-Month Lease Agreement commencing on November 1, 2021 for space #3-H consisting of 695 square feet at a rental rate of $700.00/month. Suggested Action: MOVED BY: SECONDED BY: RESOLVED: to approve the Lease Agreement between Linked, LLC and the Local Development Finance Authority (LDFA).