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LOCAL DEVELOPMENT FINANCE AUTHORITY BOARD
REGULAR MEETING
MINUTES
Monday, March 19, 1990
The meeting was called to order at 8:05 a.m. by Vice Chairman Seifert,
and roll was taken:
MEMBERS PRESENT: Don Seifert, Diane Gauthier, Herb Ginman, Greg
Milkins, Gary Martin, and Gary Sarut.
MEMBERS ABSENT: Bob Hovey, Paul Roy, Ken Harris, Mike Sepeshy, Lou
Eklund, Steve Johnson and Floyd Farmer.
OTHERS PRESENT: Cindy Plank (representing Paul Roy).
STAFF PRESENT: Dave Wendtland, Tim Paul, Rick Chapla, Don Haas and
Lee Gannon.
Inasmuch as Paul Roy was represented by Cindy Plank, Vice Chairman
Seifert declared a quorum present.
APPROVAL OF MINUTES
Minutes of the January 22, 1990 meeting were unanimously approved as
written.
FINANCIAL REPORTS
Financial reports for the year ending December 31, 1989 were explained
by Tim Paul. Costs for the Laketon signal and Marathon Property plan
were paid from other funds, and will have to be paid out of the
$56,634 in 1990; $171,646 from winter 1989 taxes was deferred because
it was not available for use in 1989. Anticipated 1990 revenue is
$256,000, up approximately $36,000 from original budget. Commitments
for 1990 include $85,000 for two street light projects and $117,000
for Terrace Street project, totalling $202,000. City Assessor's
removal of the GTE property from the tax rolls for 1990 will have a
negative impact on LDFA.
CONSTRUCTION OF HARRIS DRIVE & SUNDOLPHIN DRIVE
The LDFA Board voted unanimously to include construction of these two
streets in the 1990 LDFA I budget. Bid award to E & K Construction
was also unanimously approved. Staff was directed to include these
items in the budget by the next LDFA meeting.
LDFA Minutes
March 19, 1990
Page 2
OTHER REPORTS
Port City Industrial Park - LDFA I. About 25% of the developable land
purchased from Marathon Oi! has been sold to Larry Hines, and a
business will be relocated here from another area. Also, Topper
Construction has started work on a 25,000 sq. ft. building, which may
be expanded to 50,000 sq. ft. Land for industrial development is in
short supply throughout the metropolitan Muskegon area.
Medendorp Industrial Center - LDFA II. UPS is under construction and
should be fully operational in the next 15 days; Amstore has expanded
by another 25,000 sq. ft.; Extension of Roberts and Keating Streets
are vital to development of the areas, and efforts are underway to
secure Federal grant funds for paving.
Next meeting is scheduled for Monday, April 16 at 8:00 a.m. Board
members requested Staff provide future agendas and attachments
farther in advance of each meeting.
Meeting adjourned at 8:35 a.m.
Ig
3/20/90
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