bonds through the Economic Development Corporation (EDC), but |
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Magna took its time making a decision, and they missed the window of |
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opportunity for the bonds, but Magna decided to do the project in-house. |
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They sent a series of questions that he and the Mayor responded to, and |
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they were very careful not to make any financial commitments. They were |
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willing to make commitments for expedited permits and approvals and to |
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give a single point of contact. Magna was still very much a player; they |
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were just taking their time. He still believed the project was a go, and that |
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Rochester Hills was number one. Mr. Damone remembered that the |
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EDC was going to lease the building to them. Mr. Anzek said the City was |
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looking at a lot of different things. EDC could have owned the building |
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and leased it; they could have owned the building and leased the land; |
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the LDFA could have been involved, and there were other variations. In |
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the last conversation, they said they wanted to buy the land and own the |
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Mr. Anzek said that at the last meeting, Mr. Ellis had suggested that the |
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LDFA might have to take a stronger support role for the SmartZone. The |
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OU INCubator would be the support wing of the Clean Energy Research |
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Center that the School of Engineering was establishing at the Shotwell |
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Gustafson Pavillion. He stated that currently, the City was not contributing |
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anything to the INCubator. Dr. Russi, President of OU, was concerned |
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because OU was solely funding the INCubator. They had asked for any |
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type of financial support from the LDFA. They could possibly do a grant |
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or partial loan, to be recovered from future SmartZone captures when the |
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economy picked up. Mr. Winnie felt it should be on the next meeting’s |
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agenda, if not sooner. Ms. Golden said that as far as she was concerned, |
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it was a huge priority and part of her argument to be reappointed to the |
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Board. She realized they had some tough calls, but the last thing they |
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needed was to not be pursuing things that would bring jobs to the area. If |
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they could not find a way to assist the business INCubator, there would be |
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no future revenue for the plans. Mr. Anzek thought it was imperative that |
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the INCubator survived, especially with its new market niche. He stated |
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