SZ Agenda 05-20-16 - City of Grand Rapids

Transcription

Special Meeting of the
SmartZone Local Development Finance Authority
Friday, May 20, 2016 @ 10:30 a.m. – 12:00 p.m.
Grand Rapids City Commission Chambers
9th Floor, City Hall, 300 Monroe Ave NW
Members:
Jerry Kooiman (Chair), Jim Bachmeier (Secretary), Lisa Freiburger
(Treasurer), Mayor Rosalynn Bliss, Keith Brophy, Jerry Callahan, Dr.
Wendy Falb, John Helmholdt, Mark Holzbach, Fredrick Molnar (Exofficio), Mary Swanson, Therese Thill
City Staff:
Kara Wood (Executive Director), Jana Wallace, Christian Borg, Emily
Madsen
Legal Counsel: Richard Wendt
Copies To:
Eric DeLong, Scott Buhrer, Mike Morin, Paul Moore, Jim Fisher
AGENDA
1. Call to Order
Jerry Kooiman
2. March 25, 2016 Meeting Minutes*
Jerry Kooiman
3. Meeting Schedule for Remainder of 2016*
Kara Wood
4. Financial Statements as of April 30, 2016*
Jana Wallace
5. Priority Plan & FY2017 Budget Recommendation*
Kara Wood
6. Applied Medical Device Institute (aMDI) – Funding Request*
Kara Wood
7. Neighborhood Enterprise Zone Tax Exemption and Brownfield Plan
Amendment Request – 1001 Monroe Ave NW*
Kara Wood
8. MEDC Policy Update
Kara Wood
9. Start Garden Update
Mike Morin/Paul Moore
o Tech Shop Update
10. The Right Place, Inc. Update
11. Other Business
12. Public Comment
13. Adjournment
* Motion Required to Approve
Next Meeting – July 15, 2016, 10:30 a.m. - 12:00 p.m.
Grand Rapids City Commission Chambers, 9th Floor, City Hall
Therese Thill
City of Grand Rapids
Local Development Finance Authority (LDFA)
Kent County Administration Building – Room 311
Minutes of March 25, 2016
SmartZonesm
Members Present: Jerry Kooiman (Chair), Lisa Freiburger (Treasurer), Mayor Rosalynn
Bliss, Keith Brophy, Mark Holzbach, Mary Swanson
Members Absent:
Jim Bachmeier (Secretary), Dr. Jerry Callahan, Dr. Wendy Falb,
John Helmholdt, Therese Thill, Fredrick Molnar (ex-officio)
City Staff:
Kara Wood, Eric DeLong, Jana Wallace, Christian Borg, Emily
Madsen
Legal Counsel:
Richard Wendt
Guest:
Austin Dean (GR Current), Kevin McCurren (GR Current), Mike
Morin (Start Garden), Paul Moore (Start Garden), Brent Nowak
(aMDI)
Copies to:
Scott Buhrer
1.
Call to Order
Jerry Kooiman called the meeting to order at 7:33 a.m.
2.
Meeting Minutes from January 16, 2016
The minutes from the January 16, 2016 were reviewed.
corrections were noted.
No comments or
Keith Brophy moved to approve the January 16, 2016 Minutes.
Rosalynn Bliss seconded. Motion carried.
3.
Mayor
FY 2015 Annual Financial Audit
Jana Wallace presented the FY 2015 Annual Financial Audit. The auditors found
no issues and gave a favorable opinion regarding the financial statements of the
LDFA. The audit was received and filed.
4.
Financial Statements as of February 29, 2016
Ms. Wallace reviewed Statement A: Balance Sheet, Statement B: FY 2016 Budget
vs Actual Results, and Statement C: Schedule of January 1, 2016 through
February 29, 2016 Expenditures. The overpayment to Icon on Bond of $30,000
was returned in February. Actual tax increment revenues are higher than
budgeted. This may be adjusted down towards the end of the fiscal year by the
City Treasurer based on final captured values. The largest expenditure during this
time period was a $75,000 payment for audible pedestrian signals on Michigan
Street. This payment covers the LDFA’s full share of this project.
Keith Brophy asked what is covered under General Liability Insurance shown on
Statement B. Ms. Wallace and Kara Wood replied that this covers Board members
and staff, not contractors.
Mayor Rosalynn Bliss asked if the City participated in paying for the audible
pedestrian signals on Michigan Street. Ms. Wood responded affirmatively, adding
that this was a cost sharing project with multiple participants.
Mary Swanson moved to approve the Financial Statements as of February
29, 2016. Keith Brophy seconded. Motion carried.
5.
Start Garden – Memorandum of Understanding
Ms. Wood presented a Memorandum of Understanding (MOU) with SG
Ecosystem, Inc., a non-profit organization currently being formed by Start Garden.
This MOU is the result of three years of work with Grand Valley State University –
Center for Entrepreneurship and Innovation (GVSU-CEI) and eMerge West
Michigan. The LDFA recognizes that entrepreneurship knows no boundaries and
thinks it is important to partner in regional work. The transition of LDFA-funded
services to Start Garden will allow for more flexibility. The MOU is for a one-year
contract, commencing April 1, 2016 and ending March 31, 2017, to provide
marketing, acceleration, incubation, and concierge services. Measurables include
monthly reporting to the State and a list of activities that are to be completed each
quarter. The annual budget is $750,000, with an initial payment of $362,500 that
requires Start Garden to raise $200,000 in private funds as a condition of payment.
Ms. Wood introduced Paul Moore who gave a presentation (added to the agenda
packet). Start Garden is taking an ecosystem approach to working with
entrepreneurs, meaning that they want to help create a continuum of services with
other existing entrepreneurial support organizations (ESO) by tracking how
entrepreneurs move through the ecosystem and identifying and filling in the gaps
in order for the ecosystem to function more cohesively. To do this, Start Garden
is being restructured as one organization made up of two entities: one receiving
public money from the LDFA that is restricted to work with high-tech entrepreneurs
within the SmartZoneSM District (the entire City of Grand Rapids) that benefits
eligible property within the SmartZoneSM Certified Technology Park, and one
funded by private contributions/contracts that is open to all entrepreneurs and is
not geographically restricted. To entrepreneurs, this two-entity structure will be
indistinguishable. A Board with representatives from each of the contracting
entities, including the LDFA, will be set up to govern Start Garden.
2
Jerry Kooiman noted that future contracts might include one with the Holland
SmartZoneSM LDFA and/or the Muskegon SmartZoneSM LDFA. Having an entity
that ties these organizations together and can focus public dollars in those specific
geographical locations but can also use private dollars to work regionally is a
fulfillment of many conversations the Grand Rapids SmartZoneSM LDFA has had
throughout the designation of the Holland SmartZoneSM LDFA Satellite and the
amendment process.
Mayor Bliss asked how Start Garden will go about improving coordination between
existing services in the ecosystem. Mike Morin replied that they will start with
gathering data in order to clearly see what is going on in the ecosystem and
providing that data to other ESOs to use to improve coordination of services.
Mayor Bliss encouraged the focus on outcomes not outputs under this agreement.
Mayor Bliss asked how the eMerge West Michigan website will change. Mr. Moore
stated that it will likely become a Start Garden website with significant upgrades to
the web portal.
Mr. Brophy asked if there is any overlap between the new Start Garden entity and
the Venture Capital Fund. Mr. Morin replied that other than himself in his capacity
as a board member on some Venture Capital Fund boards, there is no overlap.
Mayor Bliss asked how time intensive the reporting requirements are for this
agreement. Kevin McCurren responded that it takes .75 of a full time equivalent
position to do the reporting required for State compliance. Mayor Bliss stated that
she wants to be mindful of this because the cost of extensive reporting often
outweighs the benefit of public-private partnerships. Others contributed that while
this may be true, it is unlikely that the State reporting requirements will change.
Mr. Brophy noted that this challenge makes Start Garden the perfect organization
to partner with because their approach to layering metrics will aggregate the data
and simplify the reporting.
Mr. Brophy noted that stakeholder engagement has shown rampant confusion
among entrepreneurs as a result of the choppiness of service delivery in the
ecosystem. He recommended an aggressive awareness raising/marketing
campaign accompany this transition in services. Mr. Morin replied that there is a
substantial amount committed to marketing in the budget and a communication
strategy is planned to launch almost immediately after the MOU takes effect.
Ms. Wallace asked how close Start Garden is to having raised $200,000. Mr. Morin
responded that they are very close to that goal, and anticipate meeting it by April
1, 2016. Ms. Wood stated that this would be confirmed by Christian Borg before
payment is initiated.
Lisa Freiburger requested that the Seamless and 5 x 5 Night programs budgets be
added back into the budget spreadsheet. These columns were initially left out as
3
the programs do not receive SmartZoneSM LDFA funding participation, but the
overall budget is confusing without seeing all the pieces.
Mark Holzbach asked if Seamless will still be an accelerator without boundaries.
Mr. Morin replied that it will as it is self-funding. Mark Holzbach inquired whether
or not the SmartZoneSM LDFA would continue funding an accelerator. Ms. Wood
responded that the SmartZoneSM LDFA accelerator is on hold for now but will likely
transition to Start Garden in the future. A request to the State has been made to
modify the SmartZoneSM LDFA’s grant requirements.
Mayor Rosalynn Bliss moved to approve the Memorandum of Understanding
with SG Ecosystem, Inc. Keith Brophy seconded. Motion carried.
6.
GVSU-CEI – Termination Agreement
Ms. Wood presented a Termination of Administration and Services Agreement with
Grand Valley State University Center for Entrepreneurship and Innovation (GVSUCEI). The SmartZoneSM LDFA has a total of eight agreements in place with GVSUCEI for services that will be transferred to Start Garden under the above approved
MOU. These outstanding agreements ought to be terminated. Mr. Kooiman and
Eric DeLong thanked Mr. McCurren and GVSU-CEI/GR Current for their work on
behalf of the SmartZoneSM LDFA and the City of Grand Rapids. Mr. McCurren
thanked them for the opportunity to be part of this work on behalf of GVSU-CEI/GR
Current.
Lisa Freiburger moved to approve the Termination of Administration and
Services Agreement with Grand Valley State University Center for
Entrepreneurship and Innovation. Mayor Rosalynn Bliss seconded. Motion
carried.
7.
Applied Medical Device Institute (aMDI) – Funding Request
Due to the loss of quorum, it was determined that Applied Medical Device Institute
(aMDI) could present to the Board and a vote on the funding request could take
place at the next meeting, since, if approved, payment would not begin until the
new fiscal year (July 1, 2016).
Mayor Bliss left the meeting at 8:35 a.m.
Mr. McCurren shared some background information on aMDI and introduced Brent
Nowak. aMDI is a private research facility that supports start-up companies and
is funded, in part, by Grand Valley State University. Mr. Nowak explained that
aMDI is filling a gap in talent attraction that exists for mid- to upper-level engineers
in the biomedical industry. aMDI has an agreement with Grand Valley State
University to become financially sustainable in three to five years. The request is
for financial support for renting laboratory space for aMDI. Ms. Wood added that
4
aMDI is an ESO that is filling an existing gap in the ecosystem and a number of
large institutions have expressed support for this work.
8.
TechShop Update
Mr. Morin provided an update on the TechShop Feasibility Study. The feasibility
study was delayed while discussions about forming SG Ecosystem, Inc. were
underway. SG Ecosystem, Inc. will execute an Agreement with TechShop for the
feasibility study in April and the feasibility study will begin in May. No changes
have been made to the project. Once commenced, it is anticipated to take 60 days
to complete the initial assessment.
9.
GR Current Update
Mr. McCurren provided an update from GR Current. He reviewed highlights from
the report included in the agenda packet.
10.
The Right Place, Inc. Update
Ms. Wood noted that there is a report in the agenda packet with an update from
The Right Place, Inc.
11.
Other Business
Ms. Wood noted that there is an updated priority plan in the agenda packet that
shows the impact of the MOU with SG Ecosystem, Inc. on the FY 2016 year end
estimate and FY 2017 budget. The FY 2017 budget will be presented for review
at the next meeting.
Christian Borg shared that during the public comment period for the Plan
Amendment, he has received 27 phone calls. Most people have called to ask:
“What is the SmartZoneSM?” “Will this affect my taxes?” Or, “does this mean I will
get free wi-fi?” No calls were received by property owners within the current or
proposed Certified Technology Park. No calls required resolution or follow up.
Most callers were happy to hear about the SmartZoneSM and thought it was a good
idea after having it explained to them. Ms. Wood added that the Plan Amendment
will go to the City Commission for approval on April 26, 2016.
Ms. Wood announced that Kent County is doing a broadband survey through
Connect Michigan and urged the Board members to participate. The results of the
survey may eventually impact the Board’s infrastructure work.
Ms. Wood also announced that Disability Advocates of Kent County has proposed
holding a ribbon cutting ceremony at the new audible pedestrian signals on
Michigan Street. She will inform the Board members of the event details once they
are scheduled.
5
Ms. Wood stated that the Economic Development staff are working on a report due
to the Michigan Economic Development Corporation (MEDC) on April 15, 2016
and a copy will be included in the agenda packet for the next meeting.
12.
Public Comment
None.
13.
Adjournment
Mr. Kooiman adjourned the meeting at 9:05 a.m.
Minutes submitted by Emily Madsen.
6
April 28, 2016
2016 Meetings Notice
The regular meetings of the SmartZone Local Development Finance Authority for the
remainder of 2016 are scheduled as follows:
Friday
Friday
Friday
Friday
May 20, 2016
July 15, 2016
September 16, 2016
November 18, 2016
10:30 a.m.
10:30 a.m.
10:30 a.m.
10:30 a.m.
Meetings will be held in the City Commission Chambers, 300
Monroe Ave NW, 9th Floor, Grand Rapids, MI 49503.
Please contact the Economic Development Office at
616-456-3431 with any questions prior to the meeting.
Distribution List:
City Manager – Rose Rosloniec
City Clerk – Emilee Courtney
DATE:
May 4, 2016
TO:
Jerry Kooiman, Chair
FROM:
Jana M. Wallace
SmartZone LDFA – Assistant Treasurer
SUBJECT:
FY2016 Financial Statements through April 30, 2016
Attached are the SmartZone Local Development Finance Authority’s interim financial
statements for the first ten months of the fiscal year ending June 30, 2016. The attached
statements include the following:
Statement A: Balance Sheet
Statement B: Statement of FY2016 Budget vs Actual Results
Statement C: Schedule of March 1 through April 30, 2016 Expenditures
This is the last set of financial statements to be issued using the City’s GPFM financial
management system. On May 2, the City’s new A360 financial management system “went
live.” Prior to the conversion process, old encumbrances were deleted. New encumbrances
will be created as needed. In addition, departments were encouraged to process as many
payment requests as possible by the GPFM processing cutoff on April 15, 2016. This resulted
in higher than average expenditures in April. However, the Authority has sufficient cash to
meet budgeted expenditures.
Please contact me at 616-456-4514 or at [email protected] if you have any questions.
Attachments
STATEMENT A
CITY OF GRAND RAPIDS, MICHIGAN
SMARTZONE LOCAL DEVELOPMENT FINANCE AUTHORITY
BALANCE SHEET
APRIL 30, 2016
Downtown
ASSETS
Cash and Investments
TOTAL ASSETS
LIABILITIES AND FUND BALANCE
Liabilities
Current Liabilities
Net Retiree Health Care Obligation
$
$
$
1
4,695
3,446
TOTAL LIABILITIES
Fund Balance
Reserve for Encumbrances
Designated for Projects & Developer Reimbursements
TOTAL LIABILITIES and FUND BALANCE
(1,249)
Prior Year Property Tax Appeals
Reserve for Compensated Absences
TOTAL FUND BALANCE
4,543,209
4,543,209
4,519,937
$
19,826
4,539,763
$
4,543,209
Note 1: This line is the actuarially determined FY2015 Annual Required
Contribution (ARC) for pre-65 year old retiree health insurance in excess of
the "pay as you go" charges disbursed from the Retiree Health Insurance
Fund. The negative amount indicates that the Fund is currently over-funded.
Note 2: The cost of vacation and vested sick leave earned but not used
through June 30, 2015. Includes provisions for the cost of the employer's
FICA obligation.
sz-stmtsapr16.xls jmw 05042016
2
STATEMENT B
STATEMENT OF FY2016 BUDGET vs ACTUAL RESULTS
JULY 1, 2015 - APRIL 30, 2016
Adopted
Budget
Actual
RESOURCES
Tax Increment - General
$
Tax Increment - Icon on Bond Development
Tax Increment - Michigan Street Development
Prior Year Tax Increment Adjustments
Net Property Tax Increment Revenue
786,598
(50,000)
$ 1,289,643
Interest on Investments
Interest on Investments - Prior Year Multi-Year Accrual Reversal
Grant - Michigan Strategic Fund 2012 - Incubator Grant
Grant - Michigan Strategic Fund 2013 - Xcelerator Grant
Miscellaneous Reimbursements
From / (To) Fund Balance
Total Resources
APPROPRIATIONS
Committed and Ongoing
Annual Audit
Contractual Services - Legal Fees and Notices
Contractual Services - Miscellaneous
Developer Reimbursements - Icon on Bond
Equipment Rental
Facilities - City Hall Office Space and Maintenance
General Liability Insurance
Memberships
Other Travel and Training
Professional Development
Staff
Supplies
Support Services Allocation - A-87
Technology and VOIP Services
Telephone - Cellular
Science and Technology Initiatives
Accelerator Services - GRCurrent/eMerge - LDFA Revenue
Accelerator Services - Xcelerator - MEDC Grant 2012
234,256
786,598
2,763
$ 1,406,205
33,150
27,050
-
(29,587)
$
6,250
46,000
3,500
234,256
7,812
2,881
250
3,000
132,090
200
13,819
12,340
400
462,798
$
6,250
18,793
1,100
225,018
457
6,509
2,881
195
482
211
93,352
580
13,819
5,221
131
374,999
$
761,092
-
$
515,177
-
Accelerator Services - Xcelerator - MEDC Grant 2013
Accelerator Services - Xcelerator - LDFA Revenue
Cook-DeVos Incubator / Product Development Center
Regional Innovation, Tradeshows, and MiDevice
Start Garden
Virtual Incubator Support
WebConnect
Infrastructure Improvements
Audible Pedestrian Signals
Michigan Street Bridge - Share of Debt Service
Michigan Street Corridor Plan Improvements
Telecommunication Fiber Ring
Infrastructure - To Be Determined
382,588
75,000
112,000
189
$ 1,590,857
Accelerator Services - MentorConnect - LDFA Revenue
sz-stmtsapr16.xls jmw 05042016
$
224,000
2,796,900
$ 4,343,693
Sub-Total
OPERATING EXCESS / (DEFICIT)
318,789
234,256
$
90,000
58,590
253,333
188,303
138,167
125,000
50,000
75,000
1,680,895
123,700
157,672
40,152
113,108
362,500
30,999
1,401,898
Sub-Total
75,000
25,000
1,000,000
1,000,000
100,000
2,200,000
Total Appropriations
4,343,693
$
-
$
75,000
25,000
2,083
102,083
1,878,980
$
(288,123)
STATEMENT C
SCHEDULE OF FY2016 EXPENDITURES
MARCH 1 THROUGH APRIL 30, 2016
Transaction
Date
04/07/2016
03/18/2016
03/14/2016
04/19/2016
04/11/2016
04/19/2016
04/11/2016
04/19/2016
04/19/2016
03/14/2016
03/14/2016
04/11/2016
03/14/2016
04/19/2016
03/21/2016
04/19/2016
03/14/2016
03/26/2016
03/14/2016
03/12/2016
03/14/2016
03/14/2016
04/09/2016
04/11/2016
04/11/2016
04/19/2016
04/19/2016
04/19/2016
03/21/2016
04/08/2016
04/08/2016
04/08/2016
03/14/2016
04/19/2016
04/06/2016
04/19/2016
03/23/2016
04/12/2016
03/08/2016
04/13/2016
04/14/2016
03/14/2016
04/11/2016
04/13/2016
03/21/2016
03/21/2016
04/08/2016
04/08/2016
04/08/2016
04/19/2016
03/07/2016
04/13/2016
03/29/2016
03/17/2016
03/14/2016
04/15/2016
04/13/2016
03/21/2016
03/28/2016
03/15/2016
04/19/2016
04/19/2016
03/18/2016
Document Number
1001SG
Should be coded to 73M021
LDFA/CEI9-30-15
LDFA/CEI1-31-16
LDFA/CEI11-30-15
LDFA/CEI12-31-15
LDFA/CEI10-31-15
LDFA/CEI2-29-16
15357-001
LDFA/EMXCEL10-31-15
LDFA/EMXCEL12-31-15
LDFA/EMXCEL1-31-16
LDFA/EMXCEL11-30-15
LDFA/EMXCEL2-29-16
8040
8043LDFA/EMMCON10-31-15
Transaction Description
Vendor
Amount
Start Garden Q1 & Q2 Payment
SG Ecosystem Inc
$ 362,500.00
correct project code
Grand Valley State University
180,985.80
CEI Sept 2015
79,081.78
CEI Jan 2016
56,203.92
CEI Nov 2015
53,093.75
CEI Dec 2015
53,050.00
CEI Oct 2015
44,160.15
CEI Feb 2016
43,430.16
Right Place Contract: Q3 1/1/1
THE RIGHT PLACE INC
23,377.06
Xcelerate Oct 2015
20,041.84
Xcelerate Dec 2015
18,132.81
Xcelerate Jan 2016
16,230.26
Xcelerate Nov 2015
16,182.14
Xcelerate Feb 2016
15,345.78
Office Lease: 243 Division May 2016
Van Andel Institute
7,825.23
Office Lease: 243 Division April 2016
Van Andel Institute
7,825.23
Mentor Connect Oct 2015
6,447.63
LABOR20160330
6,016.83
LDFA/EMMCON12-31-15
Mentor Connect Dec 2015
5,682.52
LABOR20160316
5,427.31
LDFA/EMWEB10-30-15
Web Connect Oct 2015
5,292.25
LDFA/EMMCON11-30-15
Mentor Connect Nov 2015
4,718.53
LABOR20160413
4,666.91
LDFA/EMMCON1-31-16
Mentor Connect Jan 2016
4,557.03
LDFA/EMXCELMEDC13116 MEDC Grant: Xcelerate Oct 201
3,700.00
LDFA-EMMCON2-29-16
Mentor Connect Feb 2016
3,417.85
1062214
Legal: Amended TIF & Dev Plans
DICKINSON WRIGHT PLLC
2,415.00
1062215
Legal: Misc Matters Jan 2016
1,428.00
MONTHLY A-87 OP TRANX FY16 P09 City Treasurer - Budget Office
1,151.00
MONTHLY A-87 OP TRAN FY16 P10
City Treasurer - Budget Office
1,151.00
MONTHLY A-87 OP TRANX FY16 11
City Treasurer - Budget Office
1,151.00
MONTHLY A-87 OP TRANX FY16 P12 City Treasurer - Budget Office
1,151.00
LDFA/EMWEB11-30-15
Web Connect Nov 2015
958.65
1068554
Legal: Amended TIF & Dev Plans
945.00
0007547425-01MLive Feb.2016
HERALD COMPANIES
724.50
1068555
Legal: Misc Matters Feb 2016
693.00
Facility Charges Mar 2016
City Treasurer - Facility Mnmt
650.94
City Treasurer - Facility Mnmt
Facility Charges Apr 2016
650.94
1030 1426 3711 16/02
CONSUMERS ENERGY
CONSUMERS ENERGY COMPANY
520.81
IT Computer Services May 2016
City Treasurer - Info Technology
435.10
IT Computer Services June 2016
435.10
IT Computer Services Mar 2016
435.08
IT Computer Services Apr 2016
435.08
1030 1426 3711 16/03
CONSUMERS ENERGY
CONSUMERS ENERGY COMPANY
415.09
01720574494021 16/03
GR Current Internet 3/20/16-4/
Comcast
295.03
GENL INS ALLOC FY16 P09
City Treasurer - Risk Mnmt
240.00
GEN INS ALLOC FY16 P10
240.00
240.00
240.00
137463
Copier Lease April 2016
ADAMS REMCO INC
116.87
WOOD MILEAGE 1/2016
K Wood Mileage Jan 2016
KARA WOOD
80.81
BORG MILEAGE 3/2016
Mileage March 2016
CHRISTIAN BORG
54.60
WOOD MILEAGE 2/2016
Larson Ldr Conf mileage 2/2016
KARA WOOD
51.45
1352835-0
Supplies: Post-its, Pens, Penc
INTEGRITY BUSINESS SOLUTIONS LLC
48.59
0216KWOOD4840
P-Card for K-Wood
FIFTH THIRD BANK
45.00
CITY VALIDATION BILLING
City Treasurer - Parking
36.00
PCASH042016
petty cash april 16 hold jacki
CITY OF GRAND RAPIDS TREASURER
33.98
133805
Copier Lease Mar 2016
ADAMS REMCO INC
28.94
1055546
Legal: TIF Legislation Dec 2016
24.69
CITY VALIDATION BILLING
City Treasurer - Parking
17.50
1366211-0
Supplies: Paper, tape, magnets
14.13
1367651-0
Supplies: Magnets & tape 4/16
8.12
Coded as 73M012
correct project code
(180,985.80)
TOTAL MARCH 1 THROUGH APRIL 30, 2016 $ 883,968.97
Date:
May 13, 2016
To:
SmartZonesm Local Development Finance Authority Board
From:
Kara L. Wood, Executive Director
Subject:
FY 2017 – FY 2021 Priority Plan and FY 2017 Budget Request
Attached is the FY 2017 – FY 2021 Priority Plan and the FY 2017 Budget for your
review.
The FY 2017 estimated tax increment revenues are projected to decrease more than
11% from FY 2016 tax increment revenues. This is primarily due to losses associated
with industrial personal property exemptions, which will be a one-time occurrence.
Estimated tax increment revenues for the parcels added to the SmartZoneSM Certified
Technology Park in 2016 are higher than anticipated. This is a result of significant
investment and subsequent increased real property value at 401 Hall Street SW
following a recent change of ownership. Also, no Michigan Economic Development
Corporation (MEDC) grant revenue is anticipated in FY 2017.
Expenditures in the FY 2017 – FY 2021 Priority Plan and FY 2017 Budget provide for
continued operations, developer reimbursement, local and national marketing,
participation in medical device trade shows, support of the business accelerator and
incubation services, and infrastructure projects.
In Table 1, the estimated Support Services Allocation has grown in FY 2017 primarily as
a result of increased costs related to services provided by the City’s Fiscal Services
Department and City Comptroller. Table 2 reflects the Memorandum of Understanding
(MOU) with SG Ecosystem, Inc. Of the $725,000 budgeted for SG Ecosystem, Inc. in
FY 2017, only $543,750 is committed under this MOU in FY 2017 from July 1, 2016 to
March 31, 2017.
The FY 2017 expenditure amounts for infrastructure projects are projections for
potential infrastructure needs in the Certified Technology Park. Each of these potential
projects, with the exception of Michigan Street Bridge debt service, will be brought back
to the SmartZoneSM LDFA Board for further consideration. Approval of these projects
under the FY 2017 Budget serves only to appropriate funds.
Staff recommends approval of the FY 2017 Budget and recommendation to the City
Commission for their approval. If approved by the City Commission, the Budget would
return to the SmartZoneSM LDFA Board for its adoption.
KLW/cb
Attachments
SMARTZONE LOCAL DEVELOPMENT FINANCE AUTHORITY - DOWNTOWN DEVELOPMENT DISTRICT
FY2017 - FY2021 PRIORITY PLAN
Prepared May 18, 2016
Fiscal Year Ending June 30, 2016
Adopted
Proposed
Actual
05/12/16
Update
as of 4/30/16 ESTIMATE
Budget
Table 1 - Projected Revenue
Tax Increment - Certified Tech Park #1 - District-Wide 2
Tax Increment - CTP #1 - Icon on Bond
Tax Increment - CTP #1 - Michigan Street Development 3
Tax Increment - Certified Tech Park #2 - District-Wide
Grants - Michigan Strategic Fund 2012 - Incubator Grant
Grants - Michigan Strategic Fund 2013 - iStart/Xcelerator
Grants - Michigan Strategic Fund 2013 - Return to MSF
Total Revenue
$
318,789 $ 319,980 $ 382,588 $ 375,000
234,256
234,612
234,256
234,256
786,598
787,853
786,598
786,598
(50,000)
(50,000)
2,763
(30,000)
33,150
33,150
(2,537)
33,150
75,000
75,000
75,000
224,000
224,000
112,000
112,000
(32,125)
189
189
1,546,793
1,624,595
1,590,857
1,554,068
FY2017
Request
$
INCLUDES SCHOOL TAX CAPTURE EXTENSION
FY2018
FY2019
FY2020
FY2021
Forecast 1
Forecast
Forecast
Forecast
228,979 $ 230,124 $ 231,275 $
241,615
242,823
244,037
752,704
756,468
760,250
14,698
14,771
14,845
(80,000)
(50,000)
(50,000)
29,820
13,831
14,196
150
150
150
1,187,966
1,208,167
1,214,753
232,431 $
245,257
764,051
14,920
(50,000)
15,689
150
1,222,498
TOTAL
233,593 $
246,484
767,871
14,994
(50,000)
19,143
150
1,232,235 $
1,156,401
1,220,216
3,801,344
74,229
(280,000)
92,678
750
6,065,619
FY2017 forecast plus 0.5% growth annually
Staff estimate
Staff estimates - interest rates estimated 1.0% to 1.5%
Total grant is $500,000 plus $20,000 additional grant
Total was $840,000 but currently on hold due to program changes
Return MSF 2013 grant funds to State of Michigan. See above.
FY2016 - reimb from State of Michigan for overcharges
Table 2 - Committed and Ongoing Expenditures
Annual Audit
Employee Parking
Equipment Rental
Insurance - General Liability
Memberships
Staff
Supplies
Total Committed & Ongoing Expenditures
6,250
46,000
3,500
234,256
7,812
2,881
250
3,000
132,090
200
13,819
12,340
400
462,798
6,250
46,000
3,500
234,612
7,812
2,881
250
3,000
132,090
200
13,819
12,340
400
463,154
6,250
18,793
1,100
225,018
457
6,509
2,881
195
482
211
93,352
580
13,819
5,221
131
374,999
6,250
40,000
3,500
234,612
940
7,812
2,881
665
700
3,000
138,682
700
13,819
5,221
400
459,182
6,250
46,000
3,500
241,615
4,095
968
8,238
5,893
685
258
3,090
141,456
700
21,989
5,063
480
490,280
6,450
47,380
4,500
242,823
4,218
997
8,446
6,459
706
266
3,183
144,285
735
22,649
5,182
504
498,782
6,644
48,801
5,000
4,344
1,027
8,714
7,253
727
274
3,278
147,171
772
23,328
5,304
529
263,166
6,843
50,265
5,500
4,475
1,058
8,957
7,848
749
282
3,377
150,114
810
24,028
5,555
556
270,416
7,048
51,773
6,000
4,609
1,089
9,201
7,848
771
290
3,478
153,117
851
24,749
5,868
583
277,276
33,234
244,220
24,500
484,438
21,741
5,139
43,556
35,301
3,637
1,370
16,405
736,143
3,868
116,743
26,972
2,652
1,799,920
FY2017 & FY2018 per contract. Otherwise, staff estimates.
Staff estimates
Staff estimates
100% of proj-related tir plus interest. Agreement ends 12/31/17
SmartZone share of employee parking costs
SmartZone share of office copier
Per City of Grand Rapids Budget Instructions
Staff estimates
Staff estimates
Staff estimates
Staff estimates
Staff estimates
Share of Executive Director cellular telephone
Table 3 - Project Expenditures: Committed and Planned
Accelerator Services - GRCurrent/e-Merge - MSF 2012
Accelerator Services - GRCurrent/e-Merge - tax increment
Accelerator Services - MentorConnect - tax increment
Accelerator Services - Xcelerator - MSF 2013
Accelerator Services - Xcelerator - tax increment
Accelerator Services - Start Garden
Product Devel Center - Cook-DeVos Incubator
Tradeshows / MiDevice / Regional Innovation
Applied Medical Device Institute
Virtual Incubator Support
WebConnect
Sub-total - Science and Technology
761,092
90,000
253,333
188,303
138,167
125,000
50,000
75,000
1,680,895
761,092
90,000
253,333
188,303
138,167
125,000
50,000
75,000
1,680,895
515,177
58,590
123,700
157,672
362,500
40,152
113,108
30,999
1,401,898
20,000
577,566
68,850
127,875
178,022
181,250
48,365
125,000
41,504
1,368,432
101,077
725,000
90,000
125,000
23,835
1,064,912
51,125
725,000
90,000
125,000
991,125
746,750
45,000
125,000
916,750
769,153
125,000
894,153
792,227
125,000
917,227
152,202
3,758,130
225,000
625,000
23,835
4,784,167
Funded with MSF 2012 grant proceeds
234 S Division lease runs through 12/31/2017
Committed for FY2015 and FY2016
Total grant is $840,000, payments sched per Amendment #1
Funded with a share of tax increment revenues
For FY2017 & beyond, only $543,750 is committed
Rent budgeted net of tenant lease payments to GVSU
Contract with The Right Place Inc.
Partial support for space in Cook-DeVos Center laboratory
Lease subsidies
Commitment to E-merge
Audible Pedestrian Signals
Michigan Street Bridge - Debt Service
Michigan Street Corridor Plan Improvements, including:
Ionia / Division Interchange, SmartZone Share
Michigan Street Improvements, SmartZone Share
Newberry Street Reconstruction, SmartZone Share
Ottawa Avenue Interchange, SmartZone Share
Tech Shop, SmartZone Share
Telecommunication Infrastructure - Fiber Ring, SZ Share
Infrastructure Projects - Miscellaneous
Sub-total - Infrastructure Improvements
Total Expenditures
75,000
25,000
1,000,000
1,000,000
100,000
2,200,000
$ 4,343,693
75,000
25,000
1,000,000
1,000,000
100,000
2,200,000
$ 4,344,049
75,000
25,000
2,083
102,083
$ 1,878,980
75,000
25,000
50,000
100,000
2,083
252,083
$ 2,079,697
25,000
182,913
75,000
353,884
593,037
1,000,000
300,000
10,000
2,539,834
$ 4,095,026
25,000
25,000
$ 1,514,907
25,000
25,000
$ 1,204,916
25,000
25,000
1,189,568
25,000
25,000
1,219,503
125,000
182,913
75,000
353,884
593,037
1,000,000
300,000
10,000
2,639,834
9,223,920
Share of Michigan Street crosswalks at Lafayette, Coit, & Barclay
Approved July 18, 2008. CIB 2007 debt share until 9/1/2027.
Authority's share of projects on City's Vital Streets projects list
Appropriation only; project subject to separate SZ Board approval
Staff estimate
Table 4 - Excess / (Deficit) of Revenues Over Expenditures
Fund Balance, Beginning of Year
Plus: Projected Revenue
Less: Committed & Ongoing Expenditures
Less: Project Expenditures
Fund Balance, End of Year
Less: Reserve for Future Projects
Fund Balance, Available for Other Projects
$ 4,976,061 $ 4,976,061 $ 4,976,061 $ 4,976,061
1,546,793
1,624,595
1,590,857
1,554,068
(462,798)
(463,154)
(374,999)
(459,182)
(3,880,895) (3,880,895)
(1,503,981) (1,620,515)
$ 2,179,161 $ 2,256,607 $ 4,687,938 $ 4,450,432
(1,161,598)
$ 2,179,161 $ 2,256,607 $ 4,687,938 $ 3,288,834
$
$
$
$ 4,450,432 $ 1,543,372 $ 1,236,632 $ 1,246,469 $ 1,279,398 $ 4,450,432
1,187,966
1,208,167
1,214,753
1,222,498
1,232,235
6,065,619
(490,280)
(498,782)
(263,166)
(270,416)
(277,276)
(1,799,920)
(3,604,746)
(1,016,125)
(941,750)
(919,153)
(942,227)
(7,424,001)
$ 1,543,372 $ 1,236,632 $ 1,246,469 $ 1,279,398 $ 1,292,130 $ 1,292,130
(996,381)
(1,001,363)
(1,006,370)
(1,011,402)
(1,016,459)
$ 546,991 $ 235,269 $ 240,099 $
267,997 $
275,672
Note 1: The SmartZone's capture of school related millages originally ended beginning FY2018. However, it is expected the State of Michigan will approve the Authority's request to extend the capture for another 15 years.
Note 2: In FY2017, the SmartZone Downtown lost nearly $58,000 due to the Industrial Personal Property exemptions which went into effect beginning with 2016
Note 3: Michigan Street Development LLC sold the majority of the real property associated with this project to Spectrum Health on 02/28/2014 thus removing this real property from the ad valorem roll beginning with roll year 2015 / FY2016.
For Table 3 expenditures for FY2017-2021, the boxed in expenditures indicate there are contractual agreements. Non-boxed in expenditures are included here for planning purposes
Reserves equal to annual projected tax increment revenues
szbudgets17-21.xls jmw 05132016
SMARTZONE LDFA - DOWNTOWN DISTRICT
FY2017 REQUEST FOR APPROPRIATION
To be Submitted to the SmartZone LDFA Board on May 20, 2016
Proposed
FY2017
Budget
RESOURCES
$
228,979
Tax Increment - CTP #1 - Icon on Bond
241,615
Tax Increment - CTP #1 - Michigan Street Development
752,704
14,698
(80,000)
Net Property Tax Increment Revenue $ 1,157,996
From / (To) Fund Balance
29,820
150
2,907,060
Total Resources $ 4,095,026
APPROPRIATIONS
Committed and Ongoing
$
Annual Audit
Employee Parking
Equipment Rental
General Liability Insurance
Memberships
Staff
Supplies
Sub-Total
Accelerator Services - GRCurrent/E-merge - tax increment
Accelerator Services - Start Garden
Cook-DeVos Incubator / Product Development Center
Regional Innovation, Tradeshows, MiDevice, Marketing
Applied Medical Device Institute
$
6,250
46,000
3,500
241,615
4,095
968
8,238
5,893
685
258
3,090
141,456
700
21,989
5,063
480
490,280
101,077
725,000
90,000
125,000
23,835
1,064,912
Michigan Street Bridge - SmartZone Share of Debt Service
Ionia / Division Interchange, SmartZone Share
Michigan Street Improvements, SmartZone Share
Newberry Street Reconstruction, SmartZone Share
Ottawa Avenue Interchange, SmartZone Share
Tech Shop, SmartZone Share
Telecommunication Fiber Ring
Infrastructure - To Be Determined
Sub-Total
25,000
182,913
75,000
353,884
593,037
1,000,000
300,000
10,000
2,539,834
Total Appropriations
4,095,026
EXCESS / (DEFICIT)
szbudgets17-21.xls jmw 05132016
$
-
DATE:
May 13, 2016
TO:
SmartZone℠ Local Development Finance Authority
FROM:
Kara L. Wood
Executive Director
SUBJECT:
Applied Medical Device Institute Funding Request
The applied Medical Device Institute (aMDI) was launched in the fall of 2015 as an
advanced engineering and development institute for the medical device industry,
specializing in intelligent devices and robotics. aMDI has a multi-year plan for
strategically growing an intelligent devices and robotics laboratory, including a core
suite of design and engineering services based on demand from clients in the West
Michigan area. This medical device and prototyping lab is a unique opportunity for
attracting entrepreneurs and technology transfer projects to Grand Rapids.
Laboratory space in the LDFA-sponsored Product Development Center (PDC) at Grand
Valley State University’s Cook-DeVos Center for Health Sciences (CHS) was not
adequate for aMDI. aMDI is currently occupying a laboratory and office at CHS under a
lease agreement with Grand Valley State University (GVSU), and has requested
financial support from the LDFA, in lieu of PDC space, to help offset the costs of the
office and laboratory at CHS. Letters of support for aMDI have been received from
Michigan State University, Spectrum Health, MichBio, GR Current, Mercy Health,
GVSU, MI-Device, The Right Place, and Michigan Technological University.
It is recommended that the LDFA allocate $23,835, which is equal to five months’ rent
for aMDI, payable in monthly installments to GVSU. This is an eligible expenditure
under the 2016 Amended SmartZonesm Development Plan and Tax Increment
Financing Plan (the “Plans”), and monthly payments would begin contingent upon the
approval of the Plans.
KLW/cb
CITY OF GRAND RAPIDS SMARTZONESM
LOCAL DEVELOPMENT FINANCE AUTHORITY
RESOLUTION APPROVING FUNDING REQUEST OF
APPLIED MEDICAL DEVICE INSTITUTE AN INSTITUTE
CREATED BY GRAND VALLEY STATE UNIVERSITY
Boardmember _________________, supported by Boardmember _________________,
moved the adoption of the following resolution:
WHEREAS, the Applied Medical Device Institute (“aMDI”), an entity created by Grand
Valley State University (“GVSU”), is an advanced engineering and development institute for the
medical device industry specializing in intelligent devices and robotics; and
WHEREAS, aMDI has made a request to the City of Grand Rapids SmartZoneSM Local
Development Finance Authority (the “Authority”) for financial support in the amount of
$23,000; and
WHEREAS, the Authority has determined to make a financial contribution to aMDI
subject to the terms and conditions of this resolution.
NOW, THEREFORE, IT IS HEREBY RESOLVED:
1.
That the Authority agrees to make a financial contribution for the benefit of aMDI
in the amount of $23,835 which represents five months’ rent paid by aMDI at the rate of $4,767
per month.
2.
That the financial contribution shall be made monthly directly to GVSU for five
consecutive months and shall be payment of aMDI’s rent for each such month.
3.
Prior to making any contribution of monthly rent, aMDI shall provide the
Authority with a copy of its signed lease agreement with GVSU.
4.
No contributions shall be made until the Authority’s 2016 Amended Development
and Tax Increment Financing Plans, which permit such contribution, have been approved by the
Grand Rapids City Commission and the State of Michigan Treasurer.
5.
This contribution shall be a one-time contribution with no obligation or
expectation that the Authority will make any further contribution.
6.
That all resolutions and parts of resolutions insofar as they conflict with the
provisions of this resolution be and the same are hereby rescinded.
YEAS:
Boardmembers
NAYS:
Boardmembers
ABSTAIN:
Boardmembers
ABSENT:
Boardmembers
RESOLUTION DECLARED ADOPTED.
Dated: May 20, 2016
James Bachmeier, Secretary
CERTIFICATION
I, the undersigned duly qualified and acting Secretary of the City of Grand Rapids
SmartZoneSM Local Development Finance Authority (the "Authority"), do hereby certify that the
foregoing is a true and complete copy of a resolution adopted by the Board of Directors of the
Authority at a meeting held on May 20, 2016, and that public notice of said meeting was given
pursuant to, and in accordance with, Act 267 of the Public Acts of Michigan of 1976, as
amended.
Dated: May 20, 2016
James Bachmeier, Secretary
-2GRAPIDS 61291-994 402651v1
Date:
May 13, 2016
To:
SmartZonesm Local Development Finance Authority Board
From:
Kara L. Wood, Executive Director
Subject:
Neighborhood Enterprise Zone Tax Exemption Certificate and
Brownfield Plan Amendment – 1001 Monroe, LLC at 1001
Monroe Ave NW
An application for a 13-year Neighborhood Enterprise Zone Exemption Certificate, and
a Brownfield Plan Amendment have been filed by 1001 Monroe, LLC for a project
located at 1001 Monroe Avenue NW (the “Property”). As the project lies within the
SmartZonesm Local Development Finance Authority’s development district, and approval
of the exemption could impact its revenues, City Commission Policy requires that the
board of the Authority provide a recommendation to the City Commission.
1001 Monroe, LLC (the “Developer”) owns the Property and has plans to demolish the
existing structure and to construct a new five-story mixed-use project that contains 32
market-rate rental units, approximately 3,600 square feet of ground floor restaurant
space and a 32 car parking facility integrated into the first floor of the project.
The estimated investment in the rehabilitation is approximately $9,605,000, with hard
construction costs of approximately $7,061,000. An estimated 30 new full-time jobs are
expected to be created, with wages of approximately $18/hr. In addition to employment
based income taxes, staff estimates that residents of the apartments could generate an
additional $14,454 in new City income taxes. The residential component of the project
is comprised of one and two bedroom apartments with rents projected to range from
$1,625 to $3,500 ($1.84/square foot to $2.12/square foot) depending on the size and
layout of the unit.
The Property qualifies as a brownfield due to the presence of various contaminants in
both the soil and groundwater. Through the Brownfield Plan Amendment, the
Developer is seeking reimbursement of certain eligible activities estimated at just over
$1 million. Reimbursement is estimated to occur over a period of 25 years.
The residential portion of the project qualifies for NEZ designation because it is part of a
mixed-use project, is located in a Traditional Business District and will be available for
rent. The term of the NEZ exemption is proposed to be 13-years because the project
meets the City Investment Criteria for providing access to the Grand River in
accordance with the purpose and intent of the Urban Open Spaces section of the
zoning ordinance.
The Property is in both the Monroe North Tax Increment Finance Authority (TIFA) and
the SmartZonesm Local Development Finance Authority’s development districts.
Approval of the NEZ would exclude the property from both SmartZone and Monroe
North TIFA tax capture from the residential portion of the project for the first 13 years as
neither authority may capture NEZ taxes. Following the term of the NEZ, the Monroe
North TIFA and SmartZone would capture taxes from the Property. Any new taxes
generated by the commercial portion of the project could be captured by the
SmartZonesm.
The project has been presented to the Planning Commission for consideration of
several aspects including the treatment of both the river facing and Monroe Avenue
facing sides of the building and the access provided to the Grand River. The Planning
Commission approved a reduced width of access in favor of enhanced aspects of the
project achieved by widening the building. The property is surrounded by public parks
and therefore access to the Grand River is not necessarily reduced by the narrower
access. The project is in accordance with the City’s Master Plan. There are no
significant environmental concerns at the Property and the applicant is current on all of
its tax liabilities to the City. The project has been approved by the Monroe North TIFA
and supported by the Neighbors of Belknap Lookout. The developer will meet with the
Monroe North Business Association on May 13, 2016. The project has also been
discussed with the Boardwalk Condominium Association representatives and will be
presented to that body at its next meeting on June 6, 2016. A recommendation from all
of the above will be necessary before proceeding to the City Commission for
consideration.
PROJECT PROJECTIONS
Total Amount
Investment – Real Property
Investment – Personal Property
Existing Jobs Retained
New Jobs (FTE)
Average Hourly Wage
Total New Taxes Generated per year
Taxes Abated per year
Taxes Paid per year
New City Income Taxes per year
KLW/jk
Attachment
$7,061,000
$0
0
30
$18.00
$148,734
$62,451
$86,283
Portion
$26,890
$13,864
$13,026
$27,558
LDFA Board Update
Start Garden
5.13.16
Marketing and Public Relations
Start Garden brought in 4 outside Venture Capital Groups in the past 6 weeks including Rock
Ventures, Lead Edge Capital, Endeavor and the Powershift Group. Additionally, Mike Morin will
be attending the Michigan Growth Capital Symposium on 5/17.
We’ve hosted 2 community conversation events at 40 Pearl St. including the Seamless
Accelerator kick-off, and a presentation on Intimate Impact Investing through our work with
Local First. We also held a tour and discussion with Innovation Center High School students in
early May.
Start Garden was mentioned by both the Grand Rapids Business Journal and the Holland
Sentinel in regards to the launch of the Collective Metrics platform, and the regional
collaboration with the Holland SmartZone. Former eMerge Xcelerate client, and current Start
Garden tenant, Radi8er was also covered by the Business Journal.
Ecosystem Concierge
The Start Garden team hosted the 13 county resource partners at 40 Pearl St. on 5/10. Topics
included an overview of the Start Garden Ecosystem, the rollout of Collective Metrics, website
changes, and how Start Garden client referrals will be managed. Laurie Supinski has started
scheduling 1-on-1 meetings with each partner to re-establish communication, and for
demonstrating the Collective Metrics platform in more detail. Key topics include identifying each
ESO’s core services, and determining what stage of entrepreneurship they are focusing on.
Ecosystem Measurement
In April, Start Garden released its intent to utilize Collective Metrics for regional metric tracking.
The platform will provide a window into ecosystem performance and offer real-time data on the
progress of programs. The rollout of the platform is expected to take between 4-6 months and
will require onboarding of all ESO’s and startups in the region. SG staff and incubator tenants
are currently being onboarded.
Incubator
The incubator space continues to be a source of activity in the heart of downtown. Two new
members (tenants) were added to the space in the past 6 weeks. Incubator members will be
reporting on growth milestones in the near future; however, Mike Morin is in discussion with the
MEDC regarding the current format for reporting, including frequency and key indicators.
The Seamless Accelerator launched in late April, and welcomed 5 new teams to Grand Rapids:
Alfred Smart Home, Promethient, Dogtelligent, Light Polymers and WorkitHealth.
Fundraising
Start Garden secured an initial investment, and matching dollars, from the Devos Family
Foundation in April. Paul Moore has begun to engage other regional foundations (Kellogg, Frey,
GRCF, HZCF, Fremont) as we work to establish a regional vision and goals that can be
supported by this community.
Q1 & Q2: April-September
COMMUNICATION
Hosting
6 Outside Venture Capital Visits
1. Rock Ventures (vist on 4/13 & 4/14)
2. Lead Edge Capital (visit on 4/21)
3. Endeavor (4/26)
4. Powershift Group (4/26)
5. Mike Morin and Mike DeVries went to Michigan Growth Capital Symposium (5/17)
6
Roadshows
N/A
Events (High Tech High Growth)
6 "Community Conversations" on entrepreneurship
1. Seamless kick-off (4/11)
2. Local First Event / Intimate Impact Investing Conversation with Deborah Frieze (5/12)
3. Google I/O Extended (5/18)
4. Seamless Demo Day (6/28)
5. Evan Baehr Event (6/22)
6. SBIR Event at 40 Pearl (7/15)
Events (Educational)
4 Education institution engagements
1. Meeting with Innovation Central High
2. Google I/O attendees - 6 GRCC students, 14 GRPS students (5/18)
3. CFE of U of M hosted Alumni gathering at 40 Pearl (5/18)
4. Hope College - Summer Cohort - Investment Overview- ENT Event (5/24)
Social Media
5% Audience increase month over month
Month
April
SG Facebook
4852
SG Instagram
2180
SG Twitter
5767
Seamless Facebook
328
Seamless Instagram
1046
Seamless Twitter
878
Audience Total
15051
Monthly Growth Rate
5.69%
PR
6 Media Mentions
1) http://www.hollandsentinel.com/article/20160422/NEWS/160429532?platform=hootsuite
2) http://www.grbj.com/articles/85143
3) http://www.grbj.com/articles/85144-creators-of-gr-music-app-hope-to-change-the-industry
4)
5
6
ECOSYSTEM CONCIERGE
Assign Concierge to each Entrepreneur Support Organization (ESO)
Onboard all ESO's to CM platform
Build a concierge team, assign one to each startup
Quantify potential education populations and connect
ECOSYSTEM MEASUREMENT
Build database of all entrepreneurs and investors
Quantify students in entrepreneurship education pipeline
Quanitfy entire startup inventory
Launch reporting portal for ESO community
INCUBATOR
Continuation of monthly MEDC reporting
Assign numeric metric goals to three key KEDC indicators by Oct. 1
OTHER
Fundraising
Organizational Metrics - GR Current - Jan-Feb, 2016
$$ Leveraged =
Match received
because of MEDC
Grant
New
Companies
Created
Companies
Served - TECH
Companies
Companies
Expanded
Companies
Served Traditional
Companies
Jobs
Jobs
SBIR/STTR,
Created Retained MEDC Funds Other Fed
Venture
Capital
Angel Funds
Owner
Bank/Loan Investment
New Sales
People/
Companies
Attending
Events
Other
Total Follow
on Funding
Contractors
Mar 2016
$0
2
6
54
0
14
149
$159,505
$1,050,000
$50,000
$10,000
$120,000
$660,500
$231,524
$7,536,000
$250
$0
14
Apr 2016
$0
0
0
19
0
0
0
$0
$0
$0
$0
$0
$0
$0
$0
$87
$0
0
Total
$0
$159,505
$1,050,000
$50,000
$10,000
$120,000
$660,500
$231,524
$7,536,000
$337
$0
2
6
73
-
14
149
14
Companies Created by GR Current (2) - Mar 2016
Company Name
Address
City
State Zipcode Contact Person
Email Address
Bootstrap Energy
Ruby Leaf llc
7208 Timbercreek Dr.
240 Tonia Ave #546
Allendale
Grand Rapids
MI
MI
[email protected]
[email protected]
City
Ada
Ada
Allendale
Belmont
CHASSELL
East Lansing
Flint
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grandville
Holland
Holland
Holland
Holland
Holland
Ithaca
Kalamazoo
Kentwood
Lansing
Lansing
Lowell
Memphis
Novi
San Ramon
Traverse City
Troy
Washington
West Olive
West Olive
Wyoming
Wyoming
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
TN
MI
CA
MI
MI
MI
MI
MI
MI
MI
49401 Preston Smith
49503 Marquicia Pierce
Phone Number
Companies Served by GR Current (54) - Mar 2016
Company Name
Address
Health Care Data Partners
1900 Timber Ridge Dr. SE
Test4Time
3121 BUCKHAVEN DR. SE
Bootstrap Energy Systems
7208 Timber Creek Dr.
Evolve Packaging Solutions
6481 ROGUE RAPIDS CT NE
Sisu Global Health
35263 PIKE RIVER RD
Intryst
601 Abbot Road
Sol-Electrica
336 W FIRST ST STE 113
(GRAM) Grand River Aseptic Manufactur P.O. Box 3696
Appropos
678 FRONT AVE NW STE 100
BogoDine, LLC
40 Pearl St. NW, Suite 200
CampusStarter
6895 Tripoli SE
Collective Metrics
234 Division Ave. N
Failure-Lab
503 Fairview Ave. NE Unit 3
GenPass (AquaGen)
301 Michigan Ave. NE
KNITit
154 College Ave. N.E., unit #4
orthoForge
38 Fulton St, Ste 305
PhotoUp
234 Division Ave. N
Radi8er (43rd Parallel)
917 Roger St. STE 201
Ring Cam
100 Monroe Center NW
SD Jones
1512 WOODCLIFF AVE SE
Sportsman Tracker - (Buoy 76)
4647 Shearwood Ct.
Streamsense LLC
2061 Oakwood Ave NE
Tetra Discovery Partners, LLC
301 Michigan St. NE, Suite 531
The Mackinac Technology Company
601 THREE MILE RD NW
Varsity News Network
15 Ionia Ave. SW Ste 445
A Little Machine
234 Division Ave. N Suite 1
Coco Ventures
1101 Fairfield Ave NW
Mar-Med
333 Fuller Ave. NE
Momentum for Impact, L.L.C.
2578 Lawncrest Dr NE
Ponos Group LLC
40 Pearl St. NW, Suite 200 ,
Studio Z Textiles
2153 Wealthy ST SE #219
Your Story, LLC
311 Franklin st SE
Mull-It-Over
4275 White St. SW
Global Battery Solutions
581 Ottawa Ave. Ste 100
Oxx Products
PO Box 1245
UMP Analytical LLC
175 1/2 W 15th St
The Constituent Corps Cadence
93 W. 13th Street
West Coast Chic
13670 Port Sheldon Street
Johnsons Innovations
1311 E Center St.
Set Hero
6022 East O Ave.
Packaging Compliance Labs, LLC
4334 Brockton Dr SE Suite E
Nanorete
3815 Technology Blvd
Runform Labs
212 E. Grand River Ave
Pattern Space
2480 Springside
Blood Monitoring Solutions
20 Dudley St. STE 900
Pretch
51170 Mayfair Terrace
Friendly Care,LLC
5000 Executive Pkwy Ste 140
Promethient
16663 SMOKEY HOLLOW RD
Soletics
795 Randall Dr.
Fathom Drones
14374 Barton Dr.
Immersi Solutions
9717 COTTONTAIL ST
Praevidi
9717 Cottontail Rd.
Alter Cycles
3988 BURLINGAME SW
Safer World Applications
4381 Idlewood Dr SW
49301
49301
49401
49306
49916
48823
48502
49501
49503
49503
49546
49503
49503
49503
49503
49503
49503
49544
49503
49506
49525
49505
49503
49544
49503
49503
49504
49503
49505
49503
49506
49507
49418
49423
49422
49423
49423
49424
48847
49048
49512
48910
48906
49331
38103
48374
94583
49686
48085
48094
49460
49460
49509
49519
Tom Kauss
Timothy Smock
Preston Smith
Elliott Eckert
Carolyn Yarina
Erik Alburg
Michael Lee
Tom Ross
Jon Faber
Tyler Broucek
Thomas Coke
Austin Dean
Austin Dean
Syndell Parks
Liz Bartlett
Erik Hall
Chris Palmer
Jim Czerew
Samuel Tzou
Phd PE Steven D Jones
Jeff Courter
Tom Mort
Julie Cowie
John Slagter
Matt Buggia
Mike Miller
Michael Carpenter
Jerry Marogil
Tera Qualls
Phillip Garrett
Anna Zaharokos
Elyse Wild
Bruce Burgess
Ellington Ellis
Jim Doan
Evelyn Ritter
Gary Van Wagoner
Valerie Byrnes
Jeremy Johnson
Leslie Naugle
Matt Lapham
Linda Chamberlain
Walter Reynolds
Peter Mooney
James Mullen
Phillips Holmes
CJ DeVries
Charles Cauchy
Michael Kurley
Matt Gira
AARON SCHRADIN
AARON SCHRADIN
Elliot Cooper
Andrew Hamilton
Email Address
Phone Number
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
(616) 425-9502
(630) 788-2527
(469) 693-0000
[email protected]
(269) 370-1014
(734) 233-7814
(812) 384-5878
(616) 821-3393
(844) 462-7776
(616) 822-3047
(312) 320-1597
(419) 265-3189
(419) 265-3189
(231) 330-6127
(609) 240-7953
(210) 325-2780
(816) 820-3127
(616) 262-3275
(978) 482-7464
(616) 648-0084
(616) 240-3185
(616) 570-2550
(616) 635-0937
(616) 915-5715
(616) 848-9468
[email protected]
[email protected]
(616) 454-3000
(616) 366-7875
(616) 648-3422
(616) 291-5359
(616) 482-9568
(616) 730-2162
(800) 456-4265
(773) 301-7679
(847) 828-0970
(540) 250-6855
(616) 638-5521
(503) 349-3977
(269) 330-3310
(810) 602-8872
(616) 648-0586
[email protected]
(616) 516-5317
(312) 848-1273
(248) 755-1611
(616) 818-9176
(231) 633-1702
(517) 316-5094
(586) 216-7047
(248) 343-9179
(248) 343-9179
(616) 914-1128
(269) 615-1341
Companies Created by GR Current (0) - Apr 2016
Company Name
Address
City
Email Address
Phone Number
Companies Served by GR Current (19) - Apr 2016
Company Name
Address
City
Email Address
Phone Number
Blackbird RSVP
Ingalls Pictures
Oxx Products
Sportsman Tracker
DeLiv (Zipments)
Respond Well
Insight Riot
IBTIKAR
Cultural AQ
BACUP IT, LLC (BIT Studios)
Radi8er (43rd Parallel)
Promethient
Alfred Smart Home
Light Polymers
Workit Health
Dogtelligent
NanoVivo
Graph
Black Sands
40 Pearl St. NW #200
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
Grand Rapids
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
(248)721-0768
(269) 213-4759
(773) 301-7679
616.240.3185
(616)325-5821
314-422-0228
(616)334-5747
(616)309-5400
(616)308-6320
(312)206-3131
(616) 262-3275
231-633-1702
4.47927E+12
650-678-7733
(734) 730-3747
619.453.7568
510-468-1835
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
49503
Laura Vaughn
Hugh Ingalls
Jim Doan
Jeff Courter
Ken Miguel
Ted Spooner
Brett VanTil
San Haddad
Sandra Upton
Jeffery Thompson
Jim Czerew
Chuck Couchy
Marco Matera
Marc McConnaughey
Lisa McLaughlin
Patrick Perrine
Eric Bergles
Alex Shirazi
Nathan Pawl
2013 Business Incubator Grant
Semi-Annual
Progress Report
Name of Proposal:
Purchase Order #:
085P320039200
2013 Business Incubator Grant
Amount of Total Award:
$840,000
Name of Organization:
Term of Total Award (include dates from grant):
October 1, 2013 – April 15, 2018
Grand Rapids SmartZone℠ Local
Development Finance Authority
Type of Award (grant, loan, etc.): Grant
Name of Contact:
Kara Wood
Executive Director
Grand Rapids SmartZoneSM
Local Development Finance Authority
Address of Organization:
City, State Zip:
300 Monroe NW, 9th Floor
Grand Rapids, MI 49503
Phone Number:
616-456-3196
Email Address:
[email protected]
Report Date: April 15, 2016
Reporting Period:
Report Due Date: April 15, 2016
Payment Requested for this Period:
October 1, 2015 – March 31, 2016
$0
Payment Received to Date:
$280,000.00
1 of 8
Section 1: Budget
Line Items
Technical
Assistance
Seed Capital
Administrative
Costs - LDFA
Match
Total Expenses
Column A
Column B
Actual
Expenses
This Period
Budgeted
Expenses
This Period
Column C
= Column
A/Column
B * 100
% Actual/
Budgeted
This Period
Column D
Column E
Actual Total
Expenses
To Date
Budgeted
Total
Expenses to
Date
Column F =
Column
D/Column E
* 100
% Actual/
Budgeted
To Date
$7,8751
$5,333
148%
$7,8751
$18,666
42%
$120,000
$106,667
112%
$240,000
$373,334
64%
$104,0302
$78,613
132%
$220,5062
$235,837
94%
$231,905
$190,613
122%
$468,381
$627,837
75%
Notations and/or comments:
1 – Technical assistance costs were incurred during the reporting period; however, all invoices and
subsequent payments have yet to be processed.
2 – Expenses incurred by the Xcelerate Program during the reporting period are not yet fully reimbursed by
the LDFA.
(See Exhibit A – Financial Statement)
2 of 8
Section 2: Milestones
MILESTONES (As described in the grant or latest
amendment)
1. Investment committee makes final decisions,
accepts next class - Cohort 2
Describe how the Milestone was Achieved and
Date Achieved
Twenty-five (25) applicants were screened and
six were chosen to give offers to, as well as two
alternates. One of the first six offers, Dycap from
Florida, was declined, so the opening in the
Cohort was offered to BogoDine, one of the
alternates.
Exhibit B1 - List of Cohort 2 Applicants and
Exhibit B2 - List of Cohort 2 Companies
Selected
2. Graduation and public presentations for Cohort
1.
Actual Completion Date: September 18, 2015
Demo Day for Cohort 1 was held September 22,
2015.
Exhibit C - Cohort 1 Demo Day Invitation and
Attendee List
3. Start Cohort 2
Actual Completion Date: September 22, 2015
Cohort 2 Curriculum began on October 12, 2015
Exhibit D - Cohort 2 Orientation Week
Schedule
4. Enter into investment agreements - Cohort 2
Actual Completion Date: October 12, 2015
Mutual Expectations Agreements were signed as
a part of orientation week. In the future, these
documents will be completed before the
companies come into the program.
Exhibit E- Signed Cohort 2 Investment
Agreements, Articles of Organization, and
Mutual Expectations Agreements
5. Follow up with Cohort 1.
Actual Completion Date: October 9, 2015
Exhibit F - List of follow up phone call dates
Actual Completion Date: March 9, 2016
3 of 8
6. Complete year one assessment, consider
geographical expansion.
7. Collect and screen applications - Cohort 3.
Due to the StartGarden/Emerge Merger,
geographical expansion is not planned at this
time. Year One Assessment (Semi-Annual
Report) is contained herein.
The application process was migrated to
F6S.com, an entrepreneurship/startup community
website that streamlined the process for our
reviewers.
Exhibit G - Companies Served
8. Meet quarterly with university partners to
discuss commercialization opportunities.
Representatives from the program attended
WMCUG meetings on February 10, 2016 and
March 16, 2016 to inform members about the
program to solicit their help in attracting
applicants to the cohort, and to match talent for
admitted teams.
Exhibit H - Members of West Michigan
Colleges & Universities Group (WMCUG) and
minutes from February 10, 2016 and March 16,
2016 meetings.
9. Metrics to achieve:
●
●
●
●
●
Companies Created (4)
Jobs Created (4)
Companies Served (48)
Early Stage Funds ($10,000)
Total Capital ($155,000)
Metrics achieved:
●
●
●
●
●
Companies Created (5)
Jobs Created (27)
Companies Served (61)
Early Stage Funds ($432,205)
Total Capital ($705,280)
See Section 3 for Metrics and Statistics related to
companies created/expanded, companies
served, and funding sources. Per our agreement
with Cohort teams, we will collect statistics from
them for five years following their participation in
the program.
Metrics as of March 31, 2016
4 of 8
Section 3: Metrics and Statistics
Current Reporting
Period
Cumulative for
Project
Jobs Created - Each new job
counted as one (irrespective of
part-time or full-time status or
proportion of effort on the
project).
2
9
Total Employees - Each
employee counted as one, see
above.
6
METRICS for your
ORGANIZATION
See Exhibit I - Detailed
Metrics and Statistics
11
See Exhibit I - Detailed
Metrics and Statistics
Same metrics that you are
reporting in your Monthly Google
Docs
Dollars Leveraged - Match
received because of MEDC grant
$104,030
$220,506
New Companies Created. Enter
the number of new technology
start-up businesses created. List
name, type of company,
locations and contact
information.
5
9
NOTE: In order to qualify as a
‘New Company Created,’ the
LARA Corporation Division
Business Entity Search, must
show a Formation/Qualification
date of no earlier than 12
months prior.
Number of Companies
Expanded
See Exhibit E for
formation documents of
each of the companies.
1
3
See Exhibit E for
formation documents of
each of the companies.
5 of 8
Number of Companies Served –
Tech Companies, identify by
number the types of industries
(for example 10 software, 8
medical devices, etc.
57
Number of Companies Served –
Core (Traditional) Companies
4
124
See Exhibit G Companies served
10
See Exhibit G Companies Served
METRICS for
CLIENTS/COMPANIES served by
your ORGANIZATION (Same
metrics as you are reporting in
your Monthly Google Docs)
For specifics, See Exhibit I Detailed Metrics and Statistics
Jobs Created Each new job
counted as one (irrespective of
part-time or full-time status or
proportion of effort on the project).
27
45
Jobs Retained (From last report)
15
15
1-MEDC Funds Awarded to
Companies (This includes any
Ann Arbor SPARK Pre-Seed
loans, BRCC loans, Automation
Alley Pre-Seed loans, BAF, ETF,
DARPA Match, ARPA-E Match,
or Investment Michigan loans)
$8,950
$8,950
2-SBIR, STTR, & Other Federal
Funding
0
0
3-Venture Capital
0
0
4-Angel Funds
$105,000
$183,000
Types of Capital Received - For
Companies Served by the
Organization
For specifics, see Exhibit I Detailed Metrics and Statistics
6 of 8
5-Bank/Loan
0
0
6-Owner Investment
$1,000
$4,000
7-New Sales (Increase in
Revenue)
8-Other
$273,075
$505,075
$317,255
$399,255
Total of 8 Line-Items
$705,280
$1,100,280
People/Companies Attending
Events
103
309
Cohort 2 Demo Day was
March 30, 2016 at the
Wisner-Bottrall Applied
Technology Center at Grand
Rapids Community College.
See Exhibit J - Demo Day
Invitation and Exhibit K List of Attendees for
Demo Day
METRICS for
CLIENTS/COMPANIES served by
your ORGANIZATION: (additional
metrics per grant agreement)
For specifics, See Exhibit I Detailed Metrics and Statistics
Patents Applied For - The
number of new patents,
copyrights, or trademarks applied
for by client companies of the
organization.
Issued Patents – The number of
new patents, copyrights, or
trademarks issued to client
companies of the organization.
Jobs Projected – The number of
projected new job growth by
clients of the organization.
Licensing agreements - The total
number of new licensing
agreements entered into by clients
2
3
1
1
39
51
0
0
7 of 8
of the organization. NOTE:
identify how many of these are
with MI firms.
Commercialized products – The
number of new products
commercialized by clients of the
organization.
Companies Funded by
Organization. Enter the company
that has received funding from the
organization, including the amount
and the type of funding.
0
0
0
0
8 of 8
New startup SetHero arrives to save the day, make the lives of filmmakers easier
Page 1 of 2
Thursday, May 12, 2016 | Follow Us:
HOME
FEATURES
NEWS
GROWING COMPANIES
PLACES
LIFESTYLE
Innovation & Job News
SERIES
SIGN UP HERE TO GET RAPID GROWTH IN YOUR INBOX
EVERY THURSDAY MORNING.
New startup SetHero arrives to save the day, make the lives
of filmmakers easier
BY JOHN RUMERY | THURSDAY, MAY 05, 2016
Related Content
• A more meaningful life: Coppercraft Distillery
owners focus on community - and, of course,
cocktails
When it comes to movies, there are no shortages of
super heroes — but there are none with as unique
super powers as the local startup, SetHero.
In other words, have no fear, SetHero is here.
SetHero is a West Michigan software company and
Emerge Accelerator/Start Garden alumnus cofounded by Luke DeBoer and Leslie Naugle.
SHARE
Like
0
BUILDING
COMMUNITIES,
BUSINESS
DEVELOPMENT,
CHOOSING MICHIGAN,
ENTREPRENEURSHIP,
FILM
The business proposition is pretty simple: the program streamlines the process of
creating film schedules. This, according to DeBoer, is a longstanding pain point
for filmmakers. “There are many logistical complexities on a film set, and film
schedules are the flight plan for the day,” he says. In other words, film schedules
help make sure the productions stay on time and budget.
• Trainers at A Pleasant Dog plan for new
doggie daycare with future Baxter facility
upgrade
• Al Capone, hauntings & drinks on the sly:
Exploring metro Grand Rapids' oldest bars
• Keeping it local: Harmony Brewing Company
and Green Wagon Farm launch partnership
• The Image Shoppe becomes the state's first
marketing agency to be certified as a B Corp
• Social Kitchen & Bar debuts at Downtown
Market, restaurant to celebrate grand opening
this week
Having worked in the film industry, DeBoer says that managing films’ schedules
are a bulky, paper-heavy process: inefficient, time-consuming and very old school.
He knew there was a better way to apply technology to manage and coordinate the
information. “SetHero streamlines everything,” he says. “We took a manual paper
process and automated and digitalized it. It’s now easy to publish, and the
information can be pushed out by text and email to cast and crew.”
DeBoer says his company is currently targeting independent filmmakers and
productions that involve teams of more than 15 cast and crew members. He says
SetHero can be used on small or large productions.
http://www.rapidgrowthmedia.com/innovationnews/0505sethero.aspx
5/12/2016
New startup SetHero arrives to save the day, make the lives of filmmakers easier
Page 2 of 2
SetHero is currently in beta and is free for anyone to use at this point. After beta
testing pricing will be based on a subscription model, with users paying by per
month and per project. Different pricing tiers range from $29 to $300 per month,
and DeBoer says there will also be customized programs available.
DeBoer has been pleasantly surprised so far with the beta test. He says almost
one-third of users are from outside of the United States.
Both DeBoer and Naugle are from Kalamazoo, and DeBoer moved to Grand
Rapids last year to participate in the accelerator program at Emerge.
To learn more, you can check out their website here.
Writer: John Rumery, Innovation and Jobs News Editor
0 Comments
Sort by Oldest
Add a comment...


Facebook Comments Plugin
SIGN UP HERE TO GET RAPID GROWTH IN YOUR INBOX EVERY THURSDAY
MORNING.
Contact Us | Privacy Policy | About Rapid Growth | Grand Rapids Links | Terms of Use | Sign Up | RSS
http://www.rapidgrowthmedia.com/innovationnews/0505sethero.aspx
5/12/2016
SmartZone Activity Report
January – March, 2016
Trade Shows
•
Eric Icard, Senior Business Development Manager and Maulin Pont, Business Development
Assistant of The Right Place attended the MD&M West Expo in Anaheim, CA February 9-11,
2016. With support from the Grand Rapids Smart Zone, The Right Place, Inc. provided a
professional booth for five West Michigan medical device companies. The booth’s 20’ X 20’
island configuration was located in a high traffic area at the entrance of the lower level of the
Anaheim Convention Center. Participating companies included Keystone Solutions Group, Extol,
SSI, Safari Circuits, Amtech Electrocircuits, Humphrey Products, and Koops. A full report follows.
MI Device
•
•
•
MiDevice continues to court the Medial Products Outsourcing/Orthopedic Design and
Technology Conference to Grand Rapids. Eric Icard and Robert Nesky with MiDevice member
company Motion Dynamics discussed details including potential venues and logistics for the
conference.
MiDevice held its first meeting of 2016 at Mary Free Bed Rehabilitation Hospital. Dr. John
Butzer, Director of Research, gave the organization a presentation that was followed by a tour of
the hospital’s manufacturing facilities which showcased the latest technology in rehabilitation
services.
The March MiDevice meeting was held at Medbio’s newly expanded and renovated facility. The
speaker for the event was Dr. Brent Nowak. Dr. Nowak discussed the services of the newly
formed Applied Medical Device Institute in the Medical Mile.
University Partnerships
•
A tour of the GVSU Electromagnetic Compatibility Lab (EMC) has been scheduled for May
19th. DTE recently invested $300,000 to continue to grow the lab. A tour in conjunction with
the Manufacturer’s Council is planned.
Innovation
•
The Right Place Innovation Cooperative members (Amway, Steelcase, Bissell, and Whirlpool)
convened on March 22 at the offices of the Right Place to review 2015 activities and discuss the
future of the group.
•
•
•
In spite of extremely poor attendance in 2015, the group expressed strong interest in continuing
to meet on a monthly basis to review new technologies and to network. Technology topics of
common interest were reviewed and a top 5 list of topics was confirmed.
The group agreed to additional individuals from each company to improve attendance and to
consider new companies to add to the cooperative. Wolverine, Spectrum Innovations, Newall
Rubbermaid and Gentex were suggested.
We will meet again on April 22 to clarify the objectives of the group and set goals for 2015.

SZ Agenda 05-20-16 - City of Grand Rapids

Transcription

Similar documents

I`m helping to end MS by participating in the 2016 Jayman BUILT MS

The Board of Directors of Qatar Fuel (WOQOD) is pleased to invite

5 `S` Training Program at ABV-IIITM, Gwalior on 21.07.2016

July 2016.pub

4 star ALOE HOTEL, PAPHOS

loyola institute for ministry on-campus open house thursday, may 12

KMEA Standards Handout

2016 MW Alliance Raffle - Manitowish Waters Alliance LTD

HERE - Perfect Shots Photography

2016 Sponsorship Prospectus