1000 Rochester Hills Dr
Rochester Hills, MI 48309
(248) 656-4600
Home Page: www.rochesterhills.org
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Chairperson Michael Kaszubski
Members: Ryan Deel, Chris McCracken, Michael McGuire, Michael McGunn
Staff Members: Joe Snyder
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Joe Snyder, Chief Financial Officer, called the Building Authority Meeting to order at 5:11 p.m.
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Joe Snyder, Chief Financial Officer
Michael Kaszubski provided prior notice that he would not be able to attend.
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Approval of Minutes - Building Authority Regular Meeting - May 11, 2016
Attachments:
A motion was made by Deel, seconded by McGuire, that this matter be Approved as Presented. The motion carried by the following vote:
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Resolved, that the Building Authority hereby approves the Meeting Minutes of May 11, 2016 as presented.
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Election of Chairperson
Attachments:
Joe Snyder, Chief Financial Officer, stated that an individual does not need to be present at the meeting to be nominated for office.
Michael McGuire nominated Michael Kaszubski to continue as Chairperson.
A motion was made by McGuire, seconded by McGunn, that this matter be Appointed. The motion carried by the following vote:
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Resolved, that the Building Authority hereby appoints Michael Kaszubski as Chairperson for 2017.
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Election of Treasurer
Attachments:
Joe Snyder, Chief Financial Officer, noted that Kurt Dawson would be retiring soon and would no longer be eligible to continue as Treasurer for the Building Authority.
Michael McGuire nominated Joe Snyder to serve as Treasurer for the Building Authority.
A motion was made by McGuire, seconded by Deel, that this matter be Appointed. The motion carried by the following vote:
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Resolved, that the Building Authority hereby appoints Joe Snyder as Treasurer for 2017.
Chris McCracken entered at 5:14 p.m.
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Election of Secretary
Attachments:
Michael McGuire nominated Michael McGunn to serve as Secretary of the Building Authority.
A motion was made by McGuire, seconded by McCracken, that this matter be Appointed. The motion carried by the following vote:
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Resolved, that the Building Authority hereby appoints Michael McGunn as Secretary for 2017.
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Annual Audit by Plante & Moran (December 31, 2016 Year End)
Attachments:
Joe Snyder noted that the Annual Audit information was included in the meeting packet. He stated that the audit report was presented to City Council on Monday, May 15, 2017. The auditors report stated that it was a clean audit with no material mistakes noted. Plante & Moran reported that the City is doing well financially and is operating with a structural surplus with more operating revenues than operating expenditures. He noted that the auditors stressed the importance of continuing with multi-year budgeting and forecasting.
He mentioned that the audit information is available on the City's website for review.
A motion was made by Deel, seconded by McGunn, that this matter be Approved. The motion carried by the following vote:
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Resolved, that the Building Authority hereby accepts the Annual Audit Report by Plante & Moran, PLLC, as presented.
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Approval of 2018 Debt Payment
Attachments:
Joe Snyder stated that the Building Authority has been presented with a draft motion to authorize the payment for the 2018 principal and interest of the Building Authority bonds for City Hall, 2010-B, in the amount of $804,762.50, encompassing $695,000 in principal and $109,762.50 in interest. He noted that the authorization includes paying agent and cremation fees of $250.00.
He commented that as of December 31, 2016, there is a principal amount remaining of $3,135,000. The bonds will be paid off in their entirely in Fiscal Year 2021.
A motion was made by Deel, seconded by McGuire, that this matter be Approved. The motion carried by the following vote:
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Resolved, that the Rochester Hills Building Authority hereby approves and authorizes the payment of Eight Hundred and Four Thousand Seven Hundred and Sixty Two Dollars and Fifty cents ($804,762.50), the total amount of interest and principal due plus Paying Agent and Cremation costs of Two Hundred Fifty ($250.00) Dollars on the City of Rochester Hills
Building Authority Bonds, Series 2010B, during Fiscal Year 2018.
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2018-2020 Proposed Budget for Building Authority Commission
Attachments:
Joe Snyder noted that as in prior year, three meetings are called for in the Building Authority budget. As in the past if not all the meetings are needed, they may be cancelled. He pointed out that the next item for consideration is a motion to cancel the remaining meetings for 2017 as at this point they are not expected to be needed.
He mentioned that a multi-year budget is included for the Building Authority, encompassing 2018 to 2020.
A motion was made by McCracken, seconded by Deel, that this matter be Approved. The motion carried by the following vote:
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Resolved, that the Rochester Hills Building Authority hereby approves the proposed 2018 Budget and projected 2019 and 2020 Budgets for the Building Authority under the General Fund as presented in the amount of One Thousand Eighty and 00/100 ($1,490.00) Dollars.
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Cancellation of Remaining Scheduled Meetings for Fiscal Year 2017
Attachments:
Joe Snyder stated that unless the Authority sees a need to hold additional meetings this year, a resolution is offered to cancel the remaining meetings.
A motion was made by McGunn, seconded by Deel, that this matter be Approved. The motion carried by the following vote:
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Whereas, the Rochester Hills Building Authority has determined that with the conclusion of its May 17, 2017 meeting the Building Authority has addressed all the business requiring Building Authority action for Fiscal Year 2017, and
Whereas, being there is no remaining business requiring Rochester Hills Building Authority action, and
Whereas, if a meeting should be needed, a meeting can be called by the Chair, and
Now Therefore Be It Resolved, that the Rochester Hills Building Authority has determined that the need to hold their remaining meetings in 2017 is not necessary, and
Be It Further Resolved, that the Rochester Hills Building Authority hereby cancels its remaining meetings scheduled for Fiscal Year 2017.
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None.
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- May 16, 2018 - 5:00 p.m.
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There being no further business to discuss, Treasurer Snyder adjourned the meeting at 5:20 p.m.
Minutes prepared by Mary Jo Pachla, CMMC.
Minutes were approved as presented/amended at the May 16, 2018 Regular Building Authority Meeting.
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Joe Snyder, Treasurer