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LOCAL DEVELOPMENT FINANCE AUTHORITY BOARD
REGULAR MEETING
MINUTES
Monday, April 16, 1990
The meeting was called to order at 8:05 a.m. by Chairman Harris.
MEMBERS PRESENT: Ken Harris, Diane Gauthier, Herb Ginman, Bob Hovey,
Gary Martin, Greg Milkins, Don Seifert and Mike
Sepeshy
MEMBERS ABSENT: Lou Eklund, Floyd Farmer, Steve Johnson, Paul Roy,
Gary Sarut
OTHERS PRESENT: Cindy Plank (representing Paul Roy)
STAFF PRESENT: Dave Wendtland, Tim Paul, Shirley Moore, Rick
Chapla, Don Haas, and Lee Gannon
APPROVAL OF MINUTES
Minutes of the March 19, 1990 meeting were unanimously approved with
the change of the commitment of $117,000 from Terrace Street project
to Harris Street and Sundolphin Drive in the Financial Reports
paragraph.
BUDGET & FINANCIAL REPORTS
A five year historical summary and fiscal 1990 budget summary was
distributed and reviewed by Tim Paul: Anticipated total resources for
1990 is $336,634; estimated 1990 requirements are $310,648;
estimated year end balance is $25,986. Detail of the 1990 budget was ©
also reviewed by Paul. Budget was unanimously approved.
Shirley Moore reported that the total 1989 tax levy was $228,279, of
which $176,431 has been collected and $56,633 has been transferred to
LDFA; an additional $119,798 is in the process of being transferred
to LDFA; monies due from the County will be transferred to LDFA in
June. Tim Paul further explained that money collected in two dif-
ferent assessment years (Winter '89 and Summer '90) will be available
for LDFA use this year.
Discussion of ultimate responsibility for contracts let by the City to
suppliers followed. Staff was asked to obtain an opinion from the
City Attorney and include the item on the agenda for the May meeting.
The question of authorizing LDFA expenditures was also discussed; the
LDFA Bylaws provide for an executive board of four officers, which
could be utilized. Motion made by Seifert that the signatures of the
LDFA Chairman and Treasurer be sufficient for authorization of
expenditures (payment of bills) was seconded by Ginman and unanimously
approved.
Local Development Finance Authority Board Minutes
April 16, 1990
Page 2
PROPERTY MATTERS
(A) Don Haas identified a triangular piece of property north of
KL
Industries required for a storm sewer in connection with the
Sundolphin Drive project, a landlocked wetlands area with a
creek, is being purchased by the City for $10,000 as authoriz
ed
by the City Commission. Closing on the purchase is anticipated
yet in April.
Don also identified a landlocked triangular piece which was part
of the Marathon property south of the railroad tracks, that the
City Commission has authorized for sale. KL Industries has first
right to acquire the parcel. Sale of this parcel will help
offset the expenditure above.
Rick Chapla presented for consideration the potential
incorporation into LDFA jurisdiction a 63 acre piece of property
owned by Consumers Power along the Causeway opposite
the B. C.
Cobb plant. The parcel is suitable for commercial or light
industrial use, there are no environmental concerns, and the
soil
is identical to the Consumers property being developed by
Abonmarche. Roadways and infrastructure would be required. This
could become LDFA III if the Board decides to become involved
.
The property is located in the Orchard View School District.
Annexation of additional area in Muskegon Township would
be very
difficult if not impossible. Staff was directed to continue to
pursue.
Shirley Moore pointed out that as more projects are pursued
and
come into the City system, more computerization will be
required
and suggested LDFA consider absorbing some of the cost.
Meeting adjourned at 9:10 a.m. Next meeting is scheduled at 8:00 a.m.
on Monday, May 21.
Ig
4/17/90
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