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LAKESIDE BUSINESS IMPROVEMENT DISTRICT
REGULAR
BOARD MEETING
NOVEMBER 24, 2021 9:00am
MEETING MINUTES
Meeting called to order at 9:04am by L. Hopson.
MEMBERS PRESENT: L. Hopson, M. Flermoen, K. Fearnley, R. Jenkins
MEMBERS ABSENT: F. Peterson, D. Ghezzi, A. Serio
OTHERS PRESENT: D. Alexander, J. Eckholm
AGENDA ITEMS
1. Discussion Item: Consideration of a CIA development and tax increment finance plan
Jake E. gave an overview of the CIA development and tax increment finance plan and answered questions
concerning general provisions, powers of the CIA, the need for the plan, and plan development process as
part of the plan background. Development and tax increment financing plan benefits were outlined to the
CIA, along with: legal basis of the plan, requirements of the development plan, the plan schedule and
budget, duration of the plan, reimbursement of excess tax capture, and project descriptions (design,
economic restructuring, organization and promotion/marketing). Jake outlined 13 broad categories of
projects within the four areas. He also outlined sources of CIA financing and the tax increment financing
plan (overview, maximum amount of bonded indebtedness to be incurred and duration of the CIA and TIF
through 2051). A list of 104 CIA properties and their current taxable value was presented.
The CIA’s tax increment financing represents a taxable base of $6.6 million (zero base as of Dec. 31, 2021)
which is estimated to have a first-year tax capture of $4,600.
Jake E. and the board discussed the transition from the BID to the CIA over the next three to five years.
If approved, the plan would be sent to the Muskegon City Commission for a public hearing and potential
passage at the commission’s Dec. 14 meeting.
Motion by Ron J. and supported by Louise H.:
I move to adopt the Muskegon Lakeside Corridor Improvement Authority’s development and tax increment
financing plan as presented and recommend the Muskegon City Commission approve it.
Roll Call Vote
L. Hopson: Yes M. Flermoen: Yes K. Fearnley: Yes R. Jenkins: Yes
MOTION PASSES
2. Discussion Item: Next Meeting
The next scheduled meeting of the Lakeside CIA-BID Wed. Jan. 19 9 a.m. Muskegon City Hall, 933
Terrace, Muskegon, MI 49440.
OTHER
None.
ADJOURN
Motion by R. Jenkins, supported by A. Serio, to adjourn the meeting.
Vote: 6 yays, 0 nays, 0 abstentions
MOTION PASSES
Meeting adjourned by L. Hopson at 9:35 am.
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