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HomeMy WebLinkAboutMinutes - 3rd - August 9, 1979 signed9 MINUTES OF A REGULAR MEETING OF THE ECONOMIC DEVELOPMENT CORPORATION OF LIVONIA A Regular Meeting of the Board of Directors of the Economic Development Corporation of the City of Livonia, Michigan, was called to order by Mr. Hand, Chairman, at approxi- mately 7:05 P. M., Thursday, August 9, 1979, at the Livonia City Hall, 33001 Five Mile Road, Livonia, Michigan. Roll was called by the Secretary with the following result: Directors Present: Mr. Frank Hand *Mr. Alan C. Helmkamp *Mrs. Helen Kavanaugh Mr. Stanley Telman Mr. Ronald Mardiros Mr. Peter A. Ventura Mr. Robert Jankowski Mr. Addison W. Bacon Directors Absent: Mr. William P. Scruggs Others Present: Mr. Dennis R. Neiman, Miller, Canfield, Paddock & Stone Mr. Mark K. Rosenfeld, Jacobson Stores, Inc. Mr. John L. Smucker, The Ohio Company 0n motion by Mr. Telman, supported by Mr. Ventura, it was #79-18 RESOLVED, that the minutes of the Regular Meeting of the Economic Development Corporation of the City of Livonia, held on July 12, 1979, are hereby approved, as submitted. A roll call vote was taken on the foregoing motion with the following result: AYES: Jankowski, Mardiros, Ventura, Telman,Bacon and Hand. NAYS: None. `Mrs. Kavanaugh arrived at 7:10 p. m. Mr. Dennis Nieman of Miller, Canfield, Paddock and Stone, Bond Attorney, made a statement concerning the interest of Jacobson Stores Corporation to have the Inducement Resolution adopted so that they may be able to continue to work with their financing through the underwriter, The Ohio Company, Birmingham, Michigan. *Mr. Helmkamp arrived at 8:15 p. m. Mr. Mark Rosenfeld, Executive Vice -President of Jacobson Stores, Inc. made a presentation of their proposed project, given a square foot total area to encompass approximately 130,000 sq. foot total, of which :they would be the sole occupant with 11 fully protecting the Corporation, the Incorporating Unit, and State of Michigan against any other liability and all costs relating to the bonds or the Project. 3. By adoption of this resolution the Corporation assumes no obligation or liability to the Company for any loss or damage that may result to the Company from the adoption of this resolution and all costs and expenses in connection with the construction of the Project and all costs of the issuance of the bonds and any and all other costs relating to the acquisi- tion, financing, ownership or operation of the Project shall be paid from the proceeds of sale of the bonds or by the Company. 4. The firm of Miller, Canfield, Paddock and Stone of Detroit, Michigan, is hereby designated and retained by the Corporation as bond counsel with respect to the revenue bonds to be issued in connection with the Project, and is authorized and directed to prepare and submit to all appropriate parties all proceedings, agreements and other documents as shall be necessary or appropriate in connection with the issuance of such bonds, to make application on behalf of the Corporation to the United States Internal Revenue Service and other governmental agencies for such income tax and other rulings and approvals as may be necessary in relation to the issuance of such bonds, and the Secretary of this Corporation is authorized to execute such powers of attorney and other documents as may be appropriate in connection with the foregoing. The legal fees of Miller, Canfield, Paddock and Stone for work done in connection with the Project shall be paid from the proceeds of sale of such bonds or by the Company and in any event shall be at no cost to the Corporation. A roll call vote was taken on the foregoing motion with the following result: AYES: Helmkamp, Jankowski, Mardiros, Ventura, Telman, Kavanaugh, Bacon and Hand. NAYS: None. On a motion by Mr. Ventura, supported by Mr. Mardiros, it was #79.20 RESOLVED, that having considered a communication dated August 6, 1979, from Paul R. Hanson, Deputy Director of the Wayne County Economic Development Corporation, requesting that the Livonia Economic Development Corporation give their endorsement to two projects, namely, Stolaruk Corporation of Southfield, Michigan, and Win Schuler's Restaurants, Inc., to be handled by the Wayne County EDC, it was determined by the Livonia EDC to approve of the endorsement and concur in the continued handling of the Win Schuler Restaurants, Inc., by the Wayne County EDC; and further, the Secretary was directed to forward a copy of said resolution to the Wayne County EDC. A roll call vote was taken on the foregoing motion with the following result: AYES: Helmkamp, Jankowski, Mardiros, Ventura, Kavanaugh, Bacon and Hand. NAYS: Telman. The Chairman declared the motion adopted. On a motion by Mr. Ventura, supported by Mr. Mardiros, it was #79-21 RESOLVED, that having considered a communication dated August 6, 1979 from Mr. Pawl Hanson, Deputy Director of the Wayne County Economic Development 12 Corporation, requesting that the Livonia Economic Development give their endorsement to two projects, namesly, Stolaruk Corporation of Southfield, Michigan, and Win Schuler's Restaurants, Inc., to be handled by the Wayne County EDC, and having in Resolution #79-20 determined to concur in the endorsement of the Win Schuler Restaurants, Inc., project by the Wayne County EDC; further, it was determined with respect to the Stolaruk Corpora- tion project, to request that the Industrial Coordinator of the City of Livonia to prepare a detailed survey of vacant commercial property now avail- able, or under construction in the City, and that said information be made available for the next Regular Meeting of the Livonia EDC; further, a representative of Stolaruk Corporation is requested to attend such meeting, as well as a representative of the Wayne County EDC. A roll call vote was taken on the foregoing motion with the following result: AYES: Helmkamp, Jankowski, Kavanaugh, Mardiros, Telman,Ventura, Bacon and Hand. NAYS: None. The meeting for September was set for Thursday, September 13, 1979, at 7:30 p. m. 0n a motion by Mr. Bacon, supported by Mrs. Kavanaugh, and unanimously adopted, it was #79-22 RESOLVED, that this Regular Meeting of the Livonia Economic Develop- ment Corporation of Livonia be duly adjourned at 8:45 p. m., August 9, 1979. Addison W. B