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CITY OF MUSKEGON
LOCAL DEVELOPMENT FINANCE AUTHORITY
SPECIAL MEETING
MINUTES
October 11, 1994
The meeting was called to order at 12:07 p.m. by Chairman K. Harris, and roll was taken.
MEMBERS PRESENT: K. Harris, D. Seifert, G. Sarut, P. Roy, R. Wabel, H. Ginman,
R. Long
STAFF PRESENT: B. Mazade, J. Edmonson, T. Paul, C. Brubaker-Clarke,
T. Johnson, T. Malik-Krubel
OTHERS PRESENT: J. Stevenson (Muskegon Community College), M. Bozym
(MAISD)
OLD BUSINESS
Chairman K. Harris turned the meeting over to staff, and T. Paul explained that this was the
time established to hear comments and to answer questions concerning the proposed
amendment to the LDFA II plan. The plan would call for the capture of tax increments from.
the County (approximately $24,000/yr.) the MAISD (approximately $6,000/yr.) and the
Muskegon Community College (approximately $4,400/yr). The capture of these funds would
be used to provide debt service for the Roberts Street and Keating Street Improvements bond
issuance. This project being classified a "pipeline project" under Proposal A and the last
capital project in the LDFA under the former TIFA structure.
J. Stevenson, President, Muskegon Community College, expressed his concern about the
withholding of the pass through. He stated the College is not made whole by the State and
requested that the College be excluded.
M. Bozym, Deputy Superintendent, MAISD, stated that similar to the College, the MAISD
was also not made whole by the State and asked that the MAISD be excluded. -
P. Roy, representing Muskegon County, stated that while $24,000 may seem small in
comparison to the County’s budget, it is part of a larger $200,000 in TIFA’s the County does
not capture. He explained that these funds are essential to County operations.
T. Paul stated that the City Commission would be holding a public hearing on this same
issue tonight a 5:30 p.m., and would subsequently act on the matter.
NEW BUSINESS
Revised Bond Authorizing Resolution
The Chairman called on T. Paul to explain the nature of the changes required by bond
counsel. Upon discussion of the proposed changes, a motion to approve the revised
resolution was moved by R. Wabel and supported by R. Long. The motion was approved
unanimously by voice vote.
P. Roy moved that the staff draft an agreement that states, "in the event there are excess
funds above reserves that the funds be distributed back to the appropriate taxing entities, as
allowed by law." The motion was support by G. Sarut and passed unanimously by voice
vote.
There being no further business, the meeting was adjourned.
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