Local Development Finance Authority

CITY OF STERLING HEIGHTS Regular Meeting of the LOCAL DEVELOPMENT FINANCE AUTHORITY 6633 18 Mile Road, Sterling Heights 586-884-9322 VELOCITY BUILDING March 21, 2023 8:00 AM MEETING CALLED TO ORDER PLEDGE OF ALLEGIANCE ROLL CALL APPROVAL OF AGENDA CONSENT AGENDA A. February 21, 2023 Regular Meeting Minutes NEW BUSINESS 1. To approve the 2023/2024 Budget Proposal for the Local Development Finance Authority (LDFA). 2. To Consider Approval of the Lease Agreement between Atlantic Diving Supply, Inc. and the Local Development Finance Authority (LDFA). 3. To Consider Approval of the Lease Agreement between ReGroup Advisors, Inc. and the Local Development Finance Authority (LDFA). 4. To Consider the Proposal for Velocity Signage Upgrades between the City of Sterling Heights Local Development Authority and Banner Sign Company, in the amount of $11,055.00. 5. Services Update – April Boyle OLD BUSINESS PUBLIC COMMENT ADJOURNMENT  CITY OF STERLING HEIGHTS LOCAL DEVELOPMENT FINANCE AUTHORITY Draft MINUTES OF THE REGULAR MEETING FEBRURY 21, 2023 – 8:00 a.m. 6633 18 Mile Road, Sterling Heights, MI 48314 586-884-9322 Velocity Building Phil Hunsberger called the meeting to order at 8:00 a.m. Pledge of Allegiance Members present at roll call: Josephine Attisha, Dr, Michael Balsamo, Bill Holbrook, Phil Hunsberger, Laurel Johnson, Dominic Patrus, Amy Rencher, Vicky Rowinski, Jeanne Schabath- Lewis, Howard Sizemore Members absent: Ellanore Evans, Josh Hundt, John Lettang, Steve Pomaville, Jill Tomyn Also in attendance: Kathryn Quell, Management Services Specialist – City of Sterling Heights; Luke Bonner, CEO Bonner Advisory Group, Senior Economic Development Advisor – City of Sterling Heights; April Boyle, Senior Advisor for Entrepreneurship and Innovation; Jake Parcell, Planning – City of Sterling Heights; Michael Kaszubski - ReGroup Advisors; John Hall – Applied Reseach Associates Motion to Approve the Agenda Moved by Balsamo, supported by Schabath-Lewis, to approve the agenda as presented. Ayes: All Nays: None Motion carried. Motion to Approve the CONSENT AGENDA as presented Moved by Hunsberger, supported by Rowinski, to approve the Consent Agenda as presented. A. To approve the minutes of the Special Meeting of November 22, 2022. Ayes: All Nays: None Motion carried. New Business To Consider the Proposal to replace the touchscreen directory at both entrances to the Velocity building between the City of Sterling Heights Local Development Finance Authority (LDFA) and Interactive Touchscreen Solutions, Inc. in the amount of $7,077.00. Ms. Quell stated that the current touchscreen directories located at both entrances to the Velocity building are not functional. Both, the hardware and software are obsolete. Ms. Quell stated that the submitted propoal is to upgrade the hardware and install a cloud based software system. Ms. Quell said that by utilizing the same company, Interactive Touchscreen Solutions, there is a significant cost savings. The existing frame is compatible with the new hardware, the software graphic redesign will be complimentary and the cloud subscription is discounted. Additionally, there is a customer loyalty discount. Ms. Quell stated that approval of the proposal will bring Velocity to the level of technology necessary to support the tenants and provide a directory for visitors to the building. Moved by Balsamo, supported by Schabath-Lewis to approve the Proposal to replace the touchscreen directory at both entrances to the Velocity building between the City of Sterling Heights Local Development Finance Authority (LDFA) and Interactive Touchscreen Solutions, Inc. in the amount of $7077.00. Ayes: All Nays: None Motion carried. To Consider Approval of the Lease Agreement between Applied Research Associates, Inc. and the Local Development Finance Authority (LDFA). Ms. Quell presented a month-to-month Lease Agreement between Applied Research Associates, Inc. and the Local Development Finance Authority (LDFA) for space #2-E, consisting of 907 square feet, at a rate of $1285.00/month. Ms. Quell introduced Mr. John Hall of ARA. Mr Hall stated Applied Research Associates, Inc. is globally recognized for technology, research, engineering and technical support in the physical sciences. Mr. Hall said that ARA is looking forward to creating a bigger presence in the area and continuing to work in the defense industry. Moved by Sizemore, supported by Schabath-Lewis to approve the Lease Agreement between Applied Research Associates, Inc. and the Local Development Finance Authority (LDFA). Ayes: All Nays: None Motion carried. Update – April Boyle, Senior Advisor for Entrepreneurship and Innovation Ms. Boyle provided information to the LDFA Board regarding: MEDC Gateway Grant, BAF funding, Community Manager contract, Newsletter, upcoming events, and Quarterly metrics. To Consider Approval for the Phase 3 Contract between the City of Sterling Heights Local Development Authority and Strategiz, LLC, in the amount of $2500.00. Ms. Boyle stated that to execute the Strategic Plan it will be necessary to continue developing infrastructure for Velocity. Phase 3 will continue to provide on-going consulting and operational support along with managing metrics reporting. Moved by Attisha, supported by Lewis to approve the Phase 3 Contract between the City of Sterling Heights Local Development Authority and Strategiz, LLC in the amount of $2500.00. Ayes: All Nays: None Motion carried. To Approve the hiring of Community Manager position at Velocity in the amount of $85,000.00. Ms. Boyle stated that the Community Manager position was posted and Ms. Macpherson was a qualified fit for the position and she is recommending approval to hire Ms. Macpherson. Mr. Hunsberger asked if this position fits ino the whole team organization from the Strategic Plan. Ms. Boyle stated that the Community Manager position is a combination of program manager and marketing from the Strategic Plan organization chart. Ms. Boyle said that Ms. Macpherson wants to grow in the position and that currently it is a starter position with potential to possibly grow into a director position. Moved by Schabath-Lewis, supported by Holbrook to approve the contract with Paula Macpherson as the Community Manager at Velocity in the amount of $85,000.00 annually. Ayes: All Nays: None Motion carried. Update by ReGroup Advisors Mr. Kaszubski presented a PowerPoint providing statistics on the progress of companies served. ReGroup’s contract with the LDFA is for $130,000 annually. To date, $83,000 is budgeted toward projects with $50,609.00 paid. Within the companies served, 18 new jobs are forecasted over the next 12 months. The companies served consist of: 6 accelerator clients, 8 incoming accelerator clients, 2 EIR to accelerator, 2 accelerator to EIR, 41 businesses evaluated to date, 9 ILZ reads from Consumer Electronic show. Mr. Hunsberger inquired as to what services are provided. Mr. Kaszubski said, as an example, one company tests products and were expanding to a new market. ReGroup structurally set them up as a standalone business and gave them the strategy to market quick. Also, ReGroup found funds available to offset the costs. Update by Luke Bonner regarding the Sterling Innovation District Mr. Bonner stated that he has been working closely with Community Relations to incorporate the Sterling Innovation District ino the Master Plan of the City. To bring awareness of the District and branding, an ad will be in Site Selection Magazine for the Mackinac Conference. Old Business Public Comment None Adjournment Moved by Balsamo, supported by Schabath-Lewis to adjourn. Ayes: All Nays: None Motion carried. The meeting adjourned at 8:48am  Business of the Local Development Finance Meeting: 3/21/23 Authority Sterling Heights, Michigan AGENDA STATEMENT OMB AS03 Rev. 11/04 Item Title: Consider Approval of the Lease Agreement between Atlantic Diving Supply, Inc. and the Local Development Finance Authority (LDFA). Submitted By: Office of Economic Development Contact Person/Telephone: Kathryn Quell, Building Services Specialist Administration (initial as applicable) Attachments City Clerk x Resolution Minutes Finance & Budget Director Ordinance Plan/Map City Attorney (as to legal form) x Contract x Other City Manager  Check box if this agenda item requires billing/revenue collection (fees, etc.) by Treasury Office Executive Summary: Presented for LDFA approval, is a Month-to-Month Lease Agreement between Atlantic Diving Supply, Inc. and the Local Development Finance Authority (LDFA). The Agreement is for space #2-C, consisting of 593 square feet, at a rate of $890.00/month. Atlantic Diving Supply is globally recognized for supplying military equipment, army procurement, logistics and supply chain solutions for federal agencies and protective services. Suggested Action: MOVED BY: SECONDED BY: RESOLVED, to approve the Lease Agreement between Atlantic Diving Supply, Inc. and the Local Development Finance Authority (LDFA).  Business of the Local Development Finance Meeting: 3/21/23 Authority Sterling Heights, Michigan AGENDA STATEMENT OMB AS03 Rev. 11/04 Item Title: Consider Approval of the Lease Agreement between ReGroup Advisors, Inc. and the Local Development Finance Authority (LDFA). Submitted By: Office of Economic Development Contact Person/Telephone: Kathryn Quell, Building Services Specialist Administration (initial as applicable) Attachments City Clerk x Resolution Minutes Finance & Budget Director Ordinance Plan/Map City Attorney (as to legal form) x Contract x Other City Manager  Check box if this agenda item requires billing/revenue collection (fees, etc.) by Treasury Office Executive Summary: Presented for LDFA approval, is a Month-to-Month Lease Agreement between ReGroup Advisors, Inc. and the Local Development Finance Authority (LDFA). The Agreement is for space #2-B, consisting of 633 square feet, at a rate of $897.00/month. ReGroup Advisors, Inc. offers professional services with focus on all three phases of a business – start up, business growth, and exit strategy through a senior executive leadership team. Suggested Action: MOVED BY: SECONDED BY: RESOLVED, to approve the Lease Agreement between ReGroup Advisors, Inc. and the Local Development Finance Authority (LDFA).  BSC / DPS DBA Digital Print Specialties 6538 Russell St. Detroit, MI 48211 US 313-758-6737 accounting@bannersignco.com ADDRESS SHIP TO Estimate 3602 Kathryn Quell - Velocity Kathryn Quell - Velocity City of Sterling Heights City of Sterling Heights 6633 18 Mile Rd 6633 18 Mile Rd DATE 03/17/2023 Sterling Heights, MI 48314 Sterling Heights, MI 48314 USA USA SHIP DATE SHIP VIA P.O. NUMBER SALES REP 03/17/2023 Our Install Kathryn Nicholas ACTIVITY QTY RATE AMOUNT System Signage 1 3,732.00 3,732.00 Interior sign materials Installation - Internal 1 4,168.00 4,168.00 Installation of above Applied Vinyl Graphics 1 1,300.00 1,300.00 Etch film for AGS Applied Vinyl Graphics 1 320.00 320.00 Etch film for NAMC Installation - Internal 1 960.00 960.00 Install etch film Digital Prints & Finishing 1 575.00 575.00 Entry door letterion (2) A 3% surcharge applies to Credit Card payments. TOTAL $11,055.00 Accepted By Accepted Date Thank you for your business! LOOK TO US WHEN IT'S EYES ON YOU