MICHIGAN STRATEGIC FUND BOARD DRAFT MEETING AGENDA SEPTEMBER 27, 2016 10:00 am Public comment – Please limit public comment to three (3) minutes Communications A. Consent Agenda Proposed Meeting Minutes – August 23, 2016 Zeeland Bio-Based Products, LLC – Loan Settlement – Christin Armstrong Focus Mold & Machining, Inc. – Tool & Die Recovery Zone Revocation – Dan Parisian CNC Precision Machining, LLC – Tool & Die Recovery Zone Revocation – Dan Parisian Plas-Tech Mold & Design, Inc. – Tool & Die Recovery Zone Revocation – Dan Parisian Downtown Albion Hotel/City of Albion – MCRP/Act 381 Work Plan Re-approval – Mary Kramer 618 South Main LLC/City of Ann Arbor – MCRP Amendment – Mary Kramer River Parc Place II, LLC/City of Manistee – MCRP Amendment – Jennifer Schwanky MSF/MSHDA/MEDC – MOU Amendment – Katharine Czarnecki Carhartt, Inc. – MBDP Grant Amendment – Trevor Friedeberg Suniva – MBDP Grant Amendment – Trevor Friedeberg Inteva – MBDP Amendment – Trevor Friedeberg FEV North America, Inc. – MBDP Grant Amendment – Marcia Gebarowski Fund Allocations: FY17 Allocation of Funds & Administrative Services MOU Renewal – Mark Morante Michigan Translational Research and Commercialization - Allocation of Funds – Denise Graves International Trade & STEP Grant – Allocation & Federal Grant Acceptance – Natalie Chmiko Procurement Technical Assistance Center – FY17 Grant Allocations – Andrea Robach B. Administrative Tool & Die Recovery Zone Policy – Josh Hundt/Christin Armstrong MBDP Program Guidelines Expansion – Josh Hundt Next Michigan Development Corporation Policy Recommendations – Andrea Robach Election of Officers – Mark Morante C. Business Investment a. Entrepreneurship MidMichigan Innovation Center – Business Incubator Grant Assignment – Fred Molnar University Early Stage “Proof of Concept” Fund – Request to Issue RFP – Fred Molnar Angel Capital Development Fund – Request to Issue RFP – Fred Molnar First Capital Fund – Request to Issue RFP – Fred Molnar FY17 Grant Amendments – Fred Molnar b. Business Growth Cargill Inc./City of Owosso – Act 381 Work Plan – Jeremy Webb Fiat Chrysler Automobiles – MBDP Grant – Marcia Gebarowski Jackson National Life Insurance Company– MBDP Grant Amendment & CDBG Grant Termination – Trevor Friedeberg c. Access to Capital Anderson House Office Building – Bond Refunding Authorization – Chris Cook Holland Home – Bond Authorizing – Chris Cook Canterbury Health Care, Inc. – Bond Authorizing – Chris Cook YMCA of Greater Grand Rapids – Bond Inducement – Chris Cook St. Mary’s Cement Inc. – Bond Inducement – Chris Cook Flint Parallel Pipe – Jobs for Michigan Investment Fund Investment – Mark Morante D. Community Vitality Infrastructure Capacity Enhancement (ICE) – CDBG Grant Awards – Christine Whitz SVRC Industries, Inc./City of Saginaw – MCRP – Nate Scramlin Chamber Support Corporation/City of Owosso – MCRP/Act 381 Work Plan – James Espinoza Diamond Place LLC/City of Grand Rapids – MCRP/Act 381 Work Plan – Ryan Kilpatrick Third and Grand LLC/City of Detroit – MCRP/Act 381 Work Plan – Stacy Esbrook Trident-Checker, LLC/City of Detroit – MCRP – Stacy Esbrook MICHIGAN STRATEGIC FUND RESOLUTION 2016- APPROVAL OF SEPTEMBER 2016 CONSENT AGENDA FOR THE MICHIGAN STRATEGIC FUND BOARD WHEREAS, the Michigan Strategic Fund (“MSF”), at its February 2014 board meeting, approved the use of consent agendas at future board meetings pursuant to defined guidelines. WHEREAS, the MSF, at its February, 2014 board meeting, approved Guidelines for Preparation and Approval of Consent Agendas for the MSF (“Guidelines”). WHEREAS, pursuant to the recommendation of MSF and MEDC staff, the MSF Board desires to approve the below Consent Agenda items; NOW, THEREFORE, BE IT RESOLVED, the MSF approves the Consent Agenda items listed below and identified in the final Consent Agenda for this board meeting, for each of which supporting documentation is attached to this Resolution. Consent Agenda Items: Proposed Meeting Minutes – August 23, 2016 Zeeland Bio-Based Products, LLC – Loan Settlement Focus Mold & Machining, Inc. – Tool & Die Recovery Zone Revocation CNC Precision Machining, LLC – Tool & Die Recovery Zone Revocation Plas-Tech Mold & Design, Inc. – Tool & Die Recovery Zone Revocation Downtown Albion Hotel/City of Albion – MCRP/Act 381 Work Plan Re-approval 618 South Main LLC/City of Ann Arbor – MCRP Amendment River Parc Place II, LLC/City of Manistee – MCRP Amendment MSF/MSHDA/MEDC – MOU Amendment Carhartt, Inc. – MBDP Grant Amendment Suniva – MBDP Grant Amendment Inteva – MBDP Amendment FEV North America, Inc. – MBDP Grant Amendment FY17 Allocation of Funds & Administrative Services MOU Renewal Michigan Translational Research and Commercialization - Allocation of Funds International Trade & STEP Grant – Allocation & Federal Grant Acceptance Procurement Technical Assistance Center – FY17 Grant Allocations Ayes: Nays: Recused: Lansing, Michigan September 27, 2016 MICHIGAN STRATEGIC FUND PROPOSED MEETING MINUTES August 23, 2016 Members Present Steve Arwood Dan Boge Stephanie Comai (on behalf of Director Edgerton) Andrew Lockwood (on behalf of Treasurer Khouri) Terri Jo Umlor Jody DePree Vanderwel Shaun Wilson Wayne Wood Members Absent Paul Anderson Larry Koops Mr. Arwood called the meeting to order at 10:00 am. Public Comment: Mr. Arwood asked that any attendees wishing to address the Board come forward at this time. No public comment. Mr. Arwood recognized Andrea Robach for her service to the Board and thanked her for a job well done. He introduced Jennifer Tebedo as the new MSF Administrator. Mr. Arwood recognized the following legislator and legislative staff in attendance: Senator Dale Zorn and Morgan Pickering on behalf of Representative Nancy Jenkins speaking in support of the Inteva project in Adrian under Business Growth on the agenda. Written comments and letter of support are attached. Communications: Jennifer Tebedo, MSF Administrator, advised the Board of the following changes to the agenda: the Tool & Die Recovery Zone Policy item under Administrative has been withdrawn and will be considered at the September meeting; the American Center for Mobility item has been moved from the Consent Agenda to Administrative; and a FY 2017 MSF Budget Overview by the Chief Financial Officer has been added under Informational. An updated agenda was provided to the Board at the table. Mr. Arwood congratulated and thanked staff for their continued work with the Michigan Department of Natural Resources on the Memorandum of Understanding (MOU), an item under the Consent Agenda. A. CONSENT AGENDA Resolution 2016-130 Approval of Consent Agenda Items Mr. Arwood asked if there were any questions from the Board regarding the items under the Consent Agenda. There being none, Dan Boge motioned for approval of the following: Proposed Meeting Minutes – July 26, 2016 Pixel Velocity, Inc. – Loan Amendment – 2016-131 Everist Genomics, Inc. – Loan Amendment – 2016-132 Woodward Brown Associates, LLC – City of Birmingham – MCRP Amendment – 2016-133 Lofts on Michigan, LLC – Grand Rapids – MCRP Amendment – 2016-134 Mid Towne Hospitality, LLC – Grand Rapids – MCRP Amendment – 2016-135 Marketing Memorandum of Understanding with DNR – MOU – 2016-136 Niowave – MBDP Amendment – 2016-137 Networks Northwest – PTAC Grant Amendment – 2016-138 Terri Jo Umlor seconded the motion. The motion carried: 8 ayes; 0 nays; 0 recused. Mr. Arwood recused from next item, leaves the room. Wayne Wood acted as Chairman during this time. B. ADMINISTRATIVE Resolution 2016-139 American Center for Mobility – Board of Directors Designees Eric Shreffler, Director Automotive Programs, provided the Board with information regarding this action item. Following brief discussion, Dan Boge motioned for the approval of Resolution 2016-139. Stephanie Comai seconded the motion. The motion carried: 7 ayes; 0 nays; 1 recused. Mr. Arwood rejoined the meeting. C. BUSINESS INVESTMENT C1. Entrepreneurship Resolution 2016-140 University of Michigan Battery User Facility – 21st Century Grant Eric Shreffler, Director Automotive Programs, provided the Board with information regarding this action item. Following brief discussion, Wayne Wood motioned for the approval of Resolution 2016-140. Andrew Lockwood seconded the motion. The motion carried: 8 ayes; 0 nays; 0 recused. C2. Business Growth Resolution 2016-141 Council of Great Lakes Governors – FY17 Contract Extension Jeanne Broad, Director International Trade, provided the Board with information regarding this action item. Following brief discussion, Andrew Lockwood motioned for the approval of Resolution 2016-141. Shaun Wilson seconded the motion. The motion carried: 8 ayes; 0 nays; 0 recused. Resolution 2016-142 Inteva Products LLC – MBDP Incentive Trevor Friedeberg, Business Development Project Manager, provided the Board with information regarding this action item. Following brief discussion, Dan Boge motioned for the approval of Resolution 2016-142. Wayne Wood seconded the motion. The motion carried: 8 ayes; 0 nays; 0 recused. C3. Access to Capital Resolution 2016-143 Holland Home – Bond Inducement Chris Cook, Director Capital Programs, provided the Board with information regarding this action item. Following brief discussion, Andrew Lockwood motioned for the approval of Resolution 2016-143. Wayne Wood seconded the motion. The motion carried: 8 ayes; 0 nays; 0 recused. Resolution 2016-144 F.P. Horak Company/H&J Realty– Bond Authorizing Chris Cook, Director Capital Programs, provided the Board with information regarding this action item. Following brief