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CITY OF MUSKEGON
LOCAL DEVELOPMENT FINANCE AUTHORITY BOARD
MEETING
August 18, 1993
The meeting was called to order at 8:00 a.m. by Chair K. Harris.
MEMBERS PRESENT: K. Harris, D. Seifert, G. Sarut, F. Farmer, R. Long,
G. Martin, H. Ginman, G. Milkins, R. Kersman
MEMBERS ABSENT: L. Eklund, P. Roy,* M. Sepeshy,* R. Hovey*
(*Notified Staff of absence in advance of meeting)
STAFF PRESENT: D. Wendtland, K. DePoy, T. Paul, C. Brubaker-Clarke,
D. Haas, L. Gannon
OTHERS PRESENT: R. Morgentern, Muskegon Chronicle
APPROVAL OF MINUTES
Minutes of the July 19, 1993 meeting were approved by voice vote.
NEW BUSINESS
Resolution Authorizing Issuance of Bonds ~- A proposed resolution
authorizing the issuance of 1993 Local Development Bonds (General
Obligation Limited Tax) was presented and explained by Chair
K. Harris, and additional clarification was provided by T. Paul.
Motion to approve the resolution was made by G. Sarut; supported by
H. Ginman and unanimously approved.
Agreement for Repayment and Reimbursement of Funds Advanced - An
explanation of a proposed agreement for repayment of funds advanced by
the City for LDFA obligations was presented by T. Paul. Motion was
made by F. Farmer to approve the agreement; supported by G. Sarut and
unanimously approved.
Proposed Budgets - 1994 - A detailed review of the proposed 1994
budgets for LDFA I and II was provided by T. Paul, indicating that the
budgets would be presented to the City Commission for final approval
prior to September 1. Motion was made by G. Milkins to approve the
budgets for LDFA I and II as proposed; supported by G. Sarut and
unanimously approved.
Sundolphin Drive Improvements - Staff review was provided by D. Haas,
noting that the street is being improved to provide access to property
recently sold to Hughes Builders. Motion was made by R. Kersman to
authorize City staff to obtain bids on the job; supported by
D. Seifert and approved unanimously.
Local Development Finance Authority Board Meeting Minutes
August 18, 1993
Page 2
OTHER BUSINESS
D. Wendtland reported that a letter was being sent to the governor and
State legislators related to proposed property tax and school finance
reform, and its potential impact on local government and economic
development districts; the letter is being signed by the City
Manager, City Mayor, Chairman of the Downtown Development Authority,
and Chairman of the LDFA. Motion was made by G. Saurt that the LDFA
approve a resolution in support of that letter; the motion was
supported by R. Kersman and approved unanimously.
Thed recently-announced development at the southeast corner of US 31
and Sherman Boulevard by Wal-Mart was briefly discussed.
Meeting adjourned at 8:35 a.m.
lg
8/19/93
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