HomeMy WebLinkAboutMinutes - 2nd- July 12, 1979 signed7
MINUTES OF A REGULAR MEETING OF THE ECONOMIC DEVELOPMENT CORPORATION
OF LIVONIA
A Regular Meeting of the Board of Directors of the Economical Development Corporation
of the City of Livonia, Michigan, was called to order by Mr. Hand, Chairman, at approx-
imately 7:40 P. M., Thursday, July 12, 1979, at the Livonia City Hall, 33001 Five Mile
Road, Livonia, Michigan.
Roll was called by the Secretary with the following result:
Directors Present:
Directors Absent:
Mr. Frank Hand
Mr. Alan C. Helmkamp
Mrs. Helen Kavanaugh
Mr. William P. Scruggs
Mr. Peter A. Ventura
Mr. Addison W. Bacon.
Mr. Robert Jankowski
Mr. Ronald Mardiros
Mr. Stanley Telman
0n a motion by Mr. Ventura, supported by Mr. Scruggs, and unanimously
adopted, it was
#79-13 RESOLVED, that the minutes of the First Regular Meeting of June 21,
1979, are hereby approved as presented.
0n a motion by Mr. Ventura, supported by Mr. Scruggs, it was
RESOLVED, that the Board does hereby determine that the following
fees shall be assessed on all applications for the development and
financing a project plan formulated by the Corporation and a private company
as provided under Act No. 338, Public Acts of Michigan, 1974, as amended by
Public Act No. 175 of 1976: A minimum fee of 51,250.00, payable with a
certified check in the sum of S500.00 (not refundable) shall accompany all
Project Applications whose estimated project cost is S500,000.00 or less,
with the balance of S750.00 payable upon approval by the Board of an Induce-
ment Resolution. All applications with an estimated project cost exceeding
$500,000.00 will require an additional fee of 1/8 of 1% on all applications
on the remaining estimated project cost, payable upon approval of the Legis-
lative Body and delivery of the project bonds to the purchaser of same.
A roll call vote was taken on the foregoing resolution with the following result:
AYES: Bacon.
NAYS: Hand, Helmkamp, Kavanaugh, Sruggs and Ventura.
The Chairman declared the motion defeated.
0n a motion by Mr. Helmkamp, supported by Mrs. Kavanaugh, it was
#79-14 RESOLVED, that the Board does hereby determine that the following
fees shall be assessed on all applications for the development and financing
a project plan formulated by the Corporation and a private Company as provid-
ed under Act No. 338, Public Acts of Michigan, 1974, as amended by Public
Act No. 175 of 1976: A fee for application and review shall be 1/10 of 1 per
cent of the total estimated cost of the project payable with a certified
check in the sum of S500.00 at the time of filing the application (not
refundable) and the balance of the total fee payable by certified check upon
adoption of an Inducement Resolution by the Board of Directors.
A roll call vote was taken on the foregoing resolution with the following result:
AYES: Hand, Helmkamp, Kavanaugh, Scruggs, Ventura and Bacon.
NAYS: None.
On a motion by Mr. Ventura, supported by Mr. Helmkamp, it was
#79-15 RESOLVED, that Mr. Bacon is hereby authorized to engage the services
of a qualified person for stenographic assistance to the Secretary as
required.
A roll call vote was taken on the foregoing resolution with the following result:
AYES: Hand, Helmkamp, Kavanaugh, Scruggs, Ventura and Bacon.
NAYS: None.
On a motion by Mr. Ventura, supported by Mr. Helmkamp, and unanimously
adopted, it was
#79-16 RESOLVED, that the next regular meeting of the Board of Directors
of the Economical Development Corporation of the City of Livonia be set
for Thursday, August 9, 1979 at 7:30 P. M., should the Secretary determine
that sufficient business justifies the Board to meet.
On a motion by Mr. Ventura, supported by Mr. Scruggs, and unanimously
adopted, it was
#79•-17 RESOLVED, that this meeting of the Board of Directors be adjourned
at 8:55 P. M. , July 12, 1979.