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CITY OF MUSKEGON BROWNFIELD REDEVELOPMENT AUTHORITY/ DOWNTOWN DEVELOPMENT AUTHORITY/ TAX INCREMENT FINANCING AUTHORITY SPECIAL MEETING MINUTES August 27,2012 Board member K. Kraus called the meeting to order at 11:00 a.m. and roll was taken. MEMBERS PRESENT: Paul Edbrooke, Ken Kraus, Martha Bottomley, Roger Brink, Dan Rinsema-Sybenga, Tim Taylor, Bryon Mazade MEMBERS ABSENT: Mike Kleaveland, excused; Steve Vaughan, excused; Mike Johnson, excused; Eugene Fethke, excused STAFF PRESENT: Cathy Brubaker-Clarke, Tim Paul, Derrick Smith, Mike Franzak, Diane Renkenberger OTHERS PRESENT: Jon Rooks, Parkland Muskegon; D. Alexander, MLive APPROVAL OF MINUTES Board members did not receive a copy of the May 2012 meeting minutes; therefore, approval was postponed until the next DDA/BRA meeting. NEW BUSINESS HighPoint Flats, 241, 255, & 285 West Western Avenue. Proposed Development & Reimbursement Agreement. C. Brubaker-Clarke provided board members with background information on the HighPoint Flats project. The project had not proceeded as originally expected due to the economy and recession. However, Mr. Rooks’ project is one of two in the City which received an extension of Brownfield benefits, giving him until 2021 before the tax benefits begin phasing out. J. Rooks confirmed that the economy had affected his project timeline. After studying the market, they have decided to proceed with apartments rather than the condominiums originally proposed. There were 48 units in the original building, and they plan to build an addition housing 24 more units on an adjacent lot they own. He stated that the higher number of units would make it easier to justify a full time manager at the complex. He believed that this project could serve as a catalyst to other investors/developers by illustrating what was possible in the downtown area. J. Rooks explained the requirements for obtaining state loan funds, stating that those deadline requirements would speed up his project timeline. A motion to approve the Development and Reimbursement Agreement was made by M. Bottomley and supported by P. Edbrooke, with discussion continuing on the motion. C. Brubaker-Clarke stated that, although this particular project was not included in the 2008 Brownfield Plan amendment, uses such as those proposed for HighPoint Flats were contemplated, so a revised plan was not required. M. Bottomley asked if there would be any retail included in the development, or just apartments. J. Rooks stated that it would be apartments only; they needed the higher number of apartments to help cover overhead and management costs. He distributed pictures of a model unit to board members. T. Taylor stated that he was comfortable supporting this project, as Mr. Rooks had built a good reputation with his Lake House Restaurant and Shoreline Inn facilities. A vote was taken on the above motion to approve the agreement, and was unanimously approved. There being no further business, the meeting was adjourned at 11:20 a.m.
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