Brownfield Redevelopment Authority - Regular Meeting

Brownfield Redevelopment Authority City Hall Minutes Packet 300 Monroe Ave NW, 9th Floor Grand Rapids, MI 49503 July 27, 2022 @ 8:30 AM City Commission Chambers I. Call to Order The meeting was called to order at 8:36 AM by Chair Guillermo Cisneros PRESENT: Guillermo Cisneros, Lynn Rabaut, Kristine Bersche, Commissioner Nathaniel Moody, Commissioner Milinda Ysasi, Daniel Barcheski, Kim McLaughlin, Micah Perkins ABSENT: Troy Butler, Jon VanFossen OTHERS Jonathan Klooster, Christian Borg, Jessica Solis, Jeremiah Gracia, Jordan Turner, Tricia Chapman, Jessica Wood, Jon Ippel (Amplify GR) II. Excused Absences The members who alerted the Executive Director that they would be unable to attend ahead of time were listed. Motion to approve the excused absences of Troy Butler and Jon VanFossen. RESULT: ADOPTED [UNANIMOUS] MOVER: Nathaniel Moody, Commissioner SECONDER: Micah Perkins, Member YEAS: Cisneros, Rabaut, Bersche, Moody, Ysasi, Barcheski, McLaughlin, Perkins ABSENT: Troy Butler, John VanFossen III. Minutes Approval 1. Approval of Minutes from May 25, 2022 No corrections were noted. Motion to approve the May 25, 2022 meeting minutes. Generated 8/5/2022 02:41 PM Brownfield Redevelopment Authority Meeting Full Page 2 July 27, 2022 RESULT: ACCEPTED [UNANIMOUS] MOVER: Nathaniel Moody, Commissioner SECONDER: Lynn Rabaut, Vice Chair YEAS: Cisneros, Rabaut, Bersche, Moody, Ysasi, Barcheski, McLaughlin, Perkins ABSENT: Troy Butler, John VanFossen IV. Financial Statements 1. Preliminary Interim Financial Statements as of June 30, 2022 Tricia Chapman presented the preliminary interim financial statements as of June 30, 2022. Motion to approve Financial Statement C. RESULT: APPROVED [UNANIMOUS] MOVER: Micah Perkins, Member SECONDER: Milinda Ysasi, Commissioner YEAS: Cisneros, Rabaut, Bersche, Moody, Ysasi, Barcheski, McLaughlin, Perkins ABSENT: Troy Butler, John VanFossen V. Action Items 1. Resolution approving a Development, Reimbursement and Loan Agreement for Dwelling Place Regional Community Land Trust for a project located at 2080 Union Avenue SE Jonathan Klooster presented the item and provided additional details about the project for which the Authority approved a Brownfield Plan Amendment at its previous meeting. Motion to approve the Development, Reimbursement and Loan Agreement for Dwelling Place Regional Community Land Trust for a project located at 2080 Union Ave SE. RESULT: APPROVED [UNANIMOUS] MOVER: Micah Perkins, Member SECONDER: Nathaniel Moody, Commissioner YEAS: Cisneros, Rabaut, Bersche, Moody, Ysasi, Barcheski, McLaughlin, Perkins ABSENT: Troy Butler, John VanFossen Generated 8/5/2022 02:41 PM Brownfield Redevelopment Authority Meeting Full Page 3 July 27, 2022 2. Resolution approving the Work Plan and approving and authorizing execution of a Development, Reimbursement and Local Brownfield Revolving Fund Loan Agreement for the Academy Manor redevelopment project at 43 Lakeside Drive NE Jordan Turner presented the item and provided additional details about the project for which the Authority approved a Brownfield Plan Amendment at its previous meeting. Motion to approve the Work Plan and execution of a Development, Reimbursement and Local Brownfield Revolving Fund Loan Agreement for the Academy Manor redevelopment project located at 43 Lakeside Drive NE. RESULT: APPROVED [UNANIMOUS] MOVER: Micah Perkins, Member SECONDER: Kim McLaughlin, Member YEAS: Cisneros, Rabaut, Bersche, Moody, Ysasi, Barcheski, McLaughlin, Perkins ABSENT: Troy Butler, John VanFossen 3. Resolution approving a Grant Proceeds Disbursement Agreement related to a Michigan Department of Environment, Great Lakes and Energy Grant Application for the Boston Square Redevelopment Project Jessica Solis presented the item and introduced Jon Ippel from Amplify GR to provide additional detail about the project. Motion to approve a Grant Proceeds Disbursement Agreement related to a Michigan Department of Environment, Great Lakes, and Energy Grant Application for the Boston Square redevelopment project. RESULT: APPROVED [UNANIMOUS] MOVER: Nathaniel Moody, Commissioner SECONDER: Kim McLaughlin, Member YEAS: Cisneros, Rabaut, Bersche, Moody, Ysasi, Barcheski, McLaughlin, Perkins ABSENT: Troy Butler, John VanFossen 4. First Amendment to Revised Development and Reimbursement Agreement with Diamond Place, LLC Mr. Klooster presented the item. Diamond Place, LLC refinanced the project and requested a delay in repayment of its Environmental Protection Agency loan to the Brownfield Redevelopment Authority. The purpose of the revised agreement is to delay repayment with tax increment revenues until 2034. Generated 8/5/2022 02:41 PM Brownfield Redevelopment Authority Meeting Full Page 4 July 27, 2022 Motion to approve the first amendment to the Revised Development and Reimbursement Agreement with Diamond Place, LLC. RESULT: APPROVED [UNANIMOUS] MOVER: Micah Perkins, Member SECONDER: Kristine Bersche, Secretary YEAS: Cisneros, Rabaut, Bersche, Moody, Ysasi, Barcheski, McLaughlin, Perkins ABSENT: Troy Butler, John VanFossen 5. FY2022 Activity Report for the Grand Rapids Brownfield Redevelopment Authority's Environmental Site Assessment Grant Program Ms. Solis presented this item and summarized the projects that have been added since the April authority meeting. The authority will now receive a regular report and will be asked to approve it to prevent potential issues with grant payment processing. Motion to approve the FY2022 activity report for the Environmental Site Assessment Grant Program for an amount not to exceed $101,860. RESULT: APPROVED [UNANIMOUS] MOVER: Kristine Bersche, Secretary SECONDER: Micah Perkins, Member YEAS: Cisneros, Rabaut, Bersche, Moody, Ysasi, Barcheski, McLaughlin, Perkins ABSENT: Troy Butler, John VanFossen VI. Reports 1. Local Brownfield Revolving Fund Grant and Loan Activity Report Ms. Solis presented this report. VII. Other Business None. VIII. Public Comment None. IX. Adjournment This meeting was adjourned by Chair Guillermo Cisneros at 10:00 AM. Generated 8/5/2022 02:41 PM