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CITY OF MUSKEGON
LAKESIDE BUSINESS IMPROVEMENT DISTRICT-
CORRIDOR IMPROVEMENT AUTHORITY
BOARD MEETING
DATE OF MEETING: March 20, 2024
TIME OF MEETING: 9:00 a.m.
PLACE OF MEETING: City Hall Room 204, 933 Terrace St, Muskegon, MI
AGENDA
Roll Call
Il. Approval of minutes — February 21, 2024
QI. CIA Agenda Items ~ Jocelyn Hines
A. Approval of CIA Transfer
IV. BID Agenda Items — Jocelyn Hines
A. BID financial statements ~ February 29, 2024
B. Election of Chair and Vice-Chair
C. Social Media/Marketing Presentation — Mark Flermoen
V. Adjourn
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aids or services should contact the City of Muskegon by writing or calling the following:
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Lakeside Corridor Lnprovement Authority
Agenda Item IV-B for 3-20-2024
Election of Chair and Vice-Chair
Requesting Party: City Economic Development
Outline of Request: Staff is asking the Lakeside BID to elect a chair and vice-chair.
Staff Comments: The chair of the Lakeside BID provides leadership, sets agendas, participates
in board development and conducts evaluations for continuous improvement, playing a vital role
in guiding the board and driving the BID’s success. The vice-chair steps in if the chair is
unavailable fulfilling all the chair’s duties.
Staff Recommendation: To nominate and approve a chair and vice chair
Suggested Motion: At the pleasure of the board
Lakeside Corridor Improvement Authority
Agenda Item III-A for 3-20-2024
Requesting Party: City Economic Development
Outline of Request: Staff is asking the Lakeside CIA to approve the transfer of up to $19,355.95
to accommodate the expenses of the Lakeside BID/CIA.
Staff Comments: At the February meeting, the BID/CIA discussed the potential transfer of CIA
funds to offset the BID budget. The Commercial Improvement Authority (CIA) has generated
$29,750. The CIA was projected to only have around $8,000 in 2024, but there has been quite an
increase in the last year. The current expenses of the Lakeside BID/CIA coincide with the use of
CIA funds. In order to utilize the CIA funds for 2024, the Lakeside CIA must approve the
transfer of funds.
Staff Recommendation: To approve the transfer of up to $19,355.95 from the Lakeside CIA.
Suggested Motion: I move to approve the transfer of up to $19,355.95 from the Lakeside CIA.
2024 Lakeside BID Budget
2023 Fund Balance | $8,932.58
Revenue
INTENDED CIA Transfer $19,355.95
2024 Estimated Revenue $21,645.23
Transfer from General Fund for Snow Removal $3,920
Interest Income $150.82
Total $54,004.58
Expenditures
Snow Removal $28,000
Landscaping $1,000
Events $9,150
Advertising, Marketing, & Promotion $6,279
Holiday Decorations $1,500
Total $45,929
Estimated Fund Balance Dec. 31. 2024 | $8,075.58
Lakeside Corridor Improvement Authority
Agenda Item IV-A for 3-20-2024
Financial Statement as of 2-29-2024
Requesting Party: City Economic Development
Outline of Request: Staff is asking the Lakeside BID to review and accept the BID financial
statement as of February 29, 2024.
Staff comments: As of February 29, 2024, your fund balance is $6,122.97. The total amount for
expenditures was $3,109.61. There was a beginning balance of $9,232.58. The transfer of the
funds for the BID/CIA will happen by the end of the month.
Staff Recommendation: To accept the Lakeside BID financial statement as of February 29,
2024
Suggested Motion: I move to accept the Lakeside Business Improvement District financial
statement as of February 29, 2024.
LAKESIDE BID FINANCIAL FOR 02/29/2024
Revenues 2023 ACTUAL 2024 BUDGET 29-Feb-24
Special Assessments S 17,808.13 | $ 21,645.23 | S -
Interest Income S 150.82 | $ 150.82] $ -
Grant (MML Foundation) S 5,000.00 S -
Lakeside District Assoc. (split cost Christmas) S - S -
Lakeside Neighborhood Assoc. S - iS - S -
Fall Festival S 1,200.00 | $ - iS -
Transfer from General fund for Snow Removal S 7,633.92 | $ 3,920.00 | $ -
Intended CIA Transfer S - S 19,355.95] S$ -
Total $ 31,792.87 | $ 45,072.00 | $ -
Expenses 2023 ACTUAL 2024 BUDGET 29-Feb-24
Landscaping iS 135.681 $ 1,000.00 | $ -
Holiday Decorations S 5,816.60 | $ 1,500.00 | $ 2,809.61
Snow Removal iS 40,320.00 | S$ 28,000.00 | $ -
Contingency S - S si S :
Fall Festival Expenses/Events S 8,714.57 | $ 9,150.00 | $ 300.00
Advertising S 1,781.20 | $ 6,279.00 | $ -
Total Expenses $ 56,768.05 | $ 45,929.00 | $ 3,109.61
| Net Rev/Expenses | $ (24,975.18)| $ (857.00)| $ (3,109.61)|
|Fund Balance at Beginning of Year | $ 34,207.76 | | $ 9,232.58 |
|Fund Balance at End of Year [$ 9,232.58 | [$ 6,122.97 |
O:\Planning\COMMON\BID & CIA-Lakeside\Lakeside CIA-BID 2024\Lakeside BID-CIA meeting 3-20-24\Lakeside Bid February 29
2024.x\Isx
03/11/2024 10:18 AM GL ACTIVITY REPORT FOR CITY OF MUSKEGON Page: 1/2
User: jessica.rabe
DB: Muskegon TRANSACTIONS FROM 01/01/2024 TO 02/29/2024
Date JNL Type Description Reference # Debits Credits Balance
Fund 286 LAKESIDE BID
Assets
Department 000
01/01/2024 286-000-001 CASH IN BANK BEG. BALANCE 8,082.46
01/12/2024
01/12/2024 CD CHK LAKESIDE NEIGHBORHOOD ASSOC. 547276 300.00 7,782.46
Total for Jan 300.00
02/09/2024
02/09/2024 CD CHK PREFERRED LAWN CARE & SNOW PLOWING 547399 2,809.61 4,972.85
Total for Feb 2,809.61
02/29/2024 286-000-001 END BALANCE 0.00 3,109.61 4,972.85
TOTAL FOR DEPARTMENT 000 0.00 3,109.61
TOTAL Assets 3,109.61 4,972.85
Liabilities
Department 000
01/01/2024 286-000-202 ACCOUNTS PAYABLE BEG. BALANCE 0.00
01/08/2024
01/08/2024 AP INV FACE PAINTER LAKESIDE FALL FEST 102323 300.00 (300.00)
01/12/2024 CD CHK LAKESIDE NEIGHBORHOOD ASSOC. 547276 300.00 0.00
Total for Jan 300.00 300.00
02/07/2024
02/07/2024 AP INV REMAINING BALANCE OF HOLIDAY LIGHTS I 1677-2 2,809.61 (2,809.61)
02/09/2024 CD CHK PREFERRED LAWN CARE & SNOW PLOWING 547399 2,809.61 0.00
Total for Feb 2,809.61 2,809.61
02/29/2024 286-000-202 END BALANCE 3,109.61 3,109.61 0.00
TOTAL FOR DEPARTMENT 000 3,109.61 3,109.61
TOTAL Liabilities 3,109.61 3,109.61 0.00
Fund Equity
Department 000
01/01/2024 286-000-399 FUND BALANCE UNRESERVED BEG. BALANCE (34,207.76)
02/29/2024 286-000-399 END BALANCE 0.00 0.00 (34,207.76)
TOTAL FOR DEPARTMENT 000
TOTAL Fund Equity (34,207.76)
Revenues
Department 000
01/01/2024 286-000-665-004970 INTEREST INCOME BEG. BALANCE (93.15
02/29/2024 286-000-665-004970 END BALANCE 0.00 0.00 (93.15)
01/01/2024 286-000-684 MISC. & SUNDRY BEG. BALANCE (13,2334
92)
02/29/2024 286-000-684 END BALANCE 0.00 0.00 (13,233.82)
TOTAL FOR DEPARTMENT 000
TOTAL Revenues (13,227.07)
Expenditures
Department 704 LAKESIDE BID
01/01/2024 286-704-801 CONTRACTUAL SERVICES BEG. BALANCE 397 352. 37
01/08/2024
01/08/2024 AP INV FACE PAINTER LAKESIDE FALL FEST 102323 300.00 39,652.37
Total for Jan 300.00
02/07/2024
02/07/2024 AP INV REMAINING BALANCE OF HOLIDAY LIGHTS 1 1677-2 2,809.61 42,461.98
Total for Feb 2,809.61
02/29/2024 286-704-801 END BALANCE 3,109.61 0.00 42,461.98
TOTAL FOR DEPARTMENT 704 LAKESIDE BID 3,109.61 0.00
TOTAL Expenditures 3,109.61 42,461.98
TOTAL FOR FUND 286 LAKESIDE BID 6,219.22 6,219.22 0.00
03/11/2024 10:18 AM GL ACTIVITY REPORT FOR CITY OF MUSKEGON Page: 2/2
User: jessica.rabe
DB: Muskegon TRANSACTIONS FROM 01/01/2024 TO 02/29/2024
Date JNL Type Description Reference # Debits Credits Balance
GRAND TOTALS: 6,219.22 6,219.22 0.00
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