Loading...
HomeMy WebLinkAboutMinutes - 51st - January 13, 1983 signedMINUTES OF A REGULAR MEETING OF THE ECONOMIC DEVELOPMENT CORPORATION OF LIVONIA A Regular Meeting of the Economic Development Corporation of Livonia was called to order by the Chairman, Peter Ventura, at approximately 5:07 p.m., January 13, 1983, in the Council Chambers of the City Hall, 33000 Civic Center Drive, Livonia, Michigan. The Secretary called the roll: Directors Present: Mr. Kenneth Hale Mr. Frank Hand Mr. Alan Helmkamp Mr. Robert Jankowski Ms. Helen Kavanaugh Mr. Ron Mardiros Mr. Angelo Plakas Mr. Stanley Telman Mr. Peter Ventura Mr. Charles Lazette (MG -III Associates) Mr. Paul Riggio (MG -III Associates) Others Present: Mr. Sheldon Winkelman, MG -III Attorney Mr. Dennis Neiman, Miller/Canfield Mr. Daniel J. Gilmartin, Executive Director Ms. Marie E. King, Recording Secretary On a motion by Mr. Hand, supported by Mrs. Kavanaugh, it was 4183-303 RESOLVED, that the minutes of the Special Meeting of December 27, 1982, of the Economic Development Corporation of Livonia, be approved as submitted. A roll call vote was taken on the foregoing motion with the following results: AYES: Hale, Hand, Helmkamp, Jankowski, Kavanaugh, Mardiros, Plakas, Telman, Ventura NAYS: None The Chairman declared the resolution adopted. The first item on the agenda was the consideration of the resolution approving the project plan for MG -III Associates. Mr. Lazette asked what exactly the Board was adopting. Mr. Neiman explained the EDC process to the Additional Directors and said they would have one more time to vote on this project, for the actual issuance of the bonds. Tonight the Board is just voting on the details in the project plan. 0n a motion by Mr. Hand, supported by Mr. Plakas, it was 1183-304 WHEREAS, THere exists in the City of Livonia, County of Wayne, Michigan (the "City") the need for certain programs to alleviate and prevent conditions of unemployment, to revitalize the City's economy, to assist industrial and commercial enterprises, and to encourage the location, expansion or retention of industrial and commercial 340 enterprises, and to encourage the location, expansion or retention of industrial and commercial enterprises, to provide needed services and facilities to the City and its residents and to retain employment opportunities in the City; and WHEREAS, a program to alleviate the aforesaid conditions has been initiated by the Corporation; and WHEREAS, the Corporation in conformity with Act 338 of the Public Acts of 1974, as amended ("Act 338"), and the Internal Revenue Code of 1954, as amended (the "Code"), has prepared a project plan (the "Project Plan"), providing all information and requirements necessary for a project to be undertaken for the benefit of MG -III Associates Limited Partnership (the "Project"), including the issuance of revenue bonds by the Corporation (the "Bonds"); NOW, THEREFORE, BE IT RESOLVED: 1. The Project Plan, as attached hereto and made a part hereof, meets the requirements set forth in Section 8(4) of Act 338, and is hereby adopted and approved. 2. The persons who will be active in the management of the project for not less than one year after approval of the Project Plan have sufficient ability and experience to manage the plan properly. 3. The proposed methods of financing the Project as outlined in the Project Plan are feasible and this Corporation has the ability to arrange, or cause to be arranged, the financing. 4. The Project Plan contains a statement by a person described in Section 8(4)(j) of Act 338 indicating the payment to all persons performing work on the construction project of the prevailing wage and fringe benefit rates for the same or similar work in the locality in which the work is performed and the Corporation hereby conclusively relies thereupon. 5. The Project as submitted is reasonable and necessary to carry out the purposes of the Act 338. 6. Based upon the information submitted and obtained, the Project Plan as submitted and the Project to which it relates serves to alleviate and prevent conditions of unemployment and strengthen and revitalize the City's economy and, therefore, constitutes a vital and necessary public purpose. 7. The Secretary of this Board (the "Secretary") be and is hereby authorized to convey this resolution and the Project Plan to the legislative body of the City for their review. 8. The Secretary is further directed to certify to the legislative body of the City that upon advice of the Project's applicant and upon this Board's investigation the Project will not have the effect of trans- ferring employment of more than 20 full-time persons from another l4ichigan municipality to the City. 341 9. All resolutions and parts of resolutions insofar as they conflict with the provisions of this resolution be and the same hereby are rescinded. A roll call vote was taken on the foregoing motion with the following results: AYES: Hale, Hand, Helmkamp, Jankowski, Kavanaugh, Mardiros, Plakas, Telman, Ventura, Riggio NAYS: None ABSTENTIONS: Lazette (Due to a conflict of interest)* The Chairman declared the resolution adopted. The Chairman read the proposed schedule for MG -III Associates to the Board of Directors. The Council should be setting a Public Hearing Date on January 26, with the Public Hearing date to be either February 21 or February 23. If all goes well, MG -III should be back on the EDC agenda for the final issuance of the bonds at the Regular Meeting of March 10. Mr. Helmkamp read the Treasurer's Report. Currently, there is $29,280.64 in the various accounts. $27,000 is invested in C.D. Accounts; $2,254.18 is in the Savings Account; and $26.46 is in the checking account. 0n a motion by Mr. Hale, supported by Mr. Jankowski, it was #83-305 RESOLVED, that the Treasurer's Report for the Economic Development Corporation of Livonia be accepted as submitted. A roll call vote was taken on the foregoing motion with the following results: AYES: Hale, Hand, Helmkamp, Jankowski, Kavanaugh, Mardiros, Plakas, Telman, Ventura NAYS: None The Chairman declared the resolution adopted. The next item on the agenda was consideration of the Annual Report prepared by the Executive Director for the Board of Directors. He explained that before distribution, he would like the Board of Directors to review the Annual Report to be sure there are no statements which might conflict with what the Board's views on certain subjects might be. 0n a motion by Mr. Plakas, supported by Mrs. Kavanaugh, it was * Conflict of interest statement made by Dennis Neiman, Miller/Canfield bond counselor. 342 #83-306 RESOLVED, that the Annual Report prepared by the Executive Director be tabled until the next Regular Meeting of the EDC to allow the Directors more time to study its contents. A roll call vote was taken on the foregoing motion with the following results: AYES: Hale, Hand, Helmkamp, Jankowski, Kavanaugh, Mardiros, Plakas, Telman, Ventura NAYS: None The Chairman declared the resolution adopted. Mr. Mardiros questioned an article which appeared in the Livonia observer today regarding the Wayne County EDC and a Livonia company, Electrodrill. He wanted to know why Electrodrill went to the Wayne County EDC rather than the Livonia EDC. The Executive Director explained that he had talked with Greg Potoniec, of the Wayne County EDC, back in May about this matter. It is some type of a research grant. It is not a loan. Mr. Neiman further explained that this is not a bond issue as our EDC knows it. The Wayne County EDC has been designated as a clearing house for the SDA 503 program, which is what this transaction falls under. The Chairman asked Mr. Neiman and Mr. Gilmartin to research this matter more fully and report back at the next regular meeting of the EDC. Mr. Neiman explained that the Gillow EDC Project was unable to close prior to the end of 1982; and therefore, will have to seek conventional financing. The EDC and Miller/Canfield did everything possible to complete this project prior to the end of the year, but the purchaser of the bonds was very uncooperative. 0n a motion by Mr. Telman, supported by Mr. Jankowski, and unanimously approved it was #83-307 RESOLVED, that the Regular Meeting of January 13, 1983, of the Economic Development Corporation of Livonia be adjourned at 5:30 p.m. Respectfully submitted, Ron Mardiros,3ecretary RM/mk