SmartZone Local Development Finance Authority Regular Meeting

SmartZone Local Dev Finance Authority City Hall Minutes Packet 300 Monroe Ave NW, 9th Floor Grand Rapids, MI 49503 June 14, 2023 @ 10:30 AM City Commission Chambers PRESENT: Hal Ostrow, Jerry Kooiman, Keith Brophy (10:52 AM), Jerry Callahan, Randy Thelen, Greg Sanial, ABSENT: Al Vanderberg, Lisa Freiburger, Mark Washington OTHER: Jeremiah Gracia, Jordan Turner, Chad Buczkowski, Jessica Wood, Ryan Weiss, Andria Romkema (Right Place), Tom Stewart (S.I.), Ted Velie (Michigan House Creative), Hannah Burmeister (Lambert), Jeremy Witt (Lambert) I. Call to Order The meeting was called to order at 10:33 AM by Chair Hal Ostrow II. Public Comment on Agenda Items None. III. Minutes Approval 1. Approval of Minutes from May 10, 2023 No corrections or comments were noted. Motion to approve the minutes from May 10, 2023. RESULT: ACCEPTED [UNANIMOUS] MOVER: Jerry Callahan, Member SECONDER: Greg Sanial, Member YEAS: Ostrow, Kooiman, Callahan, Thelen, Sanial ABSENT: Al Vanderberg, Keith Brophy, Lisa Freiburger, Mark Washington IV. Financials 1. Adoption of FY2024 SmartZone Budget Jordan Turner presented the recommended budget unchanged by City Commission. Motion to approve the adoption of the FY2024 Budget. Generated 6/20/2023 04:31 PM SmartZone Local Dev Finance Authority Meeting Full Page 2 June 14, 2023 RESULT: APPROVED [UNANIMOUS] MOVER: Greg Sanial, Member SECONDER: Jerry Kooiman, Secretary YEAS: Ostrow, Kooiman, Callahan, Thelen, Sanial ABSENT: Al Vanderberg, Keith Brophy, Lisa Freiburger, Mark Washington V. Action Items 1. Resolution Approving Support for Spartan Innovations Conquer Accelerator and CADE Program Tom Stewart presented the history and outcomes of the two programs. Motion to approve the resolution and authorizing execution of a Memorandum of Understanding with the Michigan State University Foundation (MSU Foundation) in an amount not-to-exceed $160,000. RESULT: APPROVED [4 TO 0] MOVER: Greg Sanial, Member SECONDER: Jerry Callahan, Member YEAS: Hal Ostrow, Jerry Callahan, Randy Thelen, Greg Sanial ABSTAIN: Jerry Kooiman ABSENT: Al Vanderberg, Keith Brophy, Lisa Freiburger, Mark Washington 2. Resolution Approving and Authorizing Execution of First Amendment to Grant Agreement with Midwest House Ted Velie presented the sponsorship information from the agenda packet. Motion to approve a resolution and authorizing execution of an amended grant agreement with Middle West, LLC dba Midwest House in an amount not-to- exceed $50,000. RESULT: APPROVED [UNANIMOUS] MOVER: Greg Sanial, Member SECONDER: Jerry Kooiman, Secretary YEAS: Ostrow, Kooiman, Callahan, Thelen, Sanial ABSENT: Al Vanderberg, Keith Brophy, Lisa Freiburger, Mark Washington (Keith Brophy arrived at 10:52 AM) 3. Resolution Approving Support for The Tech Hub at Grand Rapids Tech Week 2023 Andria Romkema explained the sponsorship information from the agenda packet. Motion to approve the resolution and authorizing execution of a Grant Agreement with The Right Place, Inc. in an amount not-to-exceed $12,500. Generated 6/20/2023 04:31 PM SmartZone Local Dev Finance Authority Meeting Full Page 3 June 14, 2023 RESULT: APPROVED [5 TO 0] MOVER: Jerry Callahan, Member SECONDER: Jerry Kooiman, Secretary YEAS: Ostrow, Kooiman, Brophy, Callahan, Sanial ABSTAIN: Randy Thelen ABSENT: Al Vanderberg, Lisa Freiburger, Mark Washington VI. Other Business The board discussed the SmartZone’s future strategy and Lambert presented more details and next-steps on their marketing strategy. The board supported the recommendations and staff will begin implementation with Lambert. VII. Public Comment None. VIII. Adjournment The meeting was adjourned at 12:01 PM. Generated 6/20/2023 04:31 PM