1000 Rochester Hills Dr
Rochester Hills, MI 48309
(248) 656-4600
Home Page: www.rochesterhills.org
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Chairperson Michael Kaszubski
Members: LaVerne Farmer Chris McCracken, Michael McGuire, Michael McGunn
Staff Member: Joe Snyder
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Joe Snyder, Chief Financial Officer, called the Building Authority Meeting to order at 5:01 p.m.
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Joe Snyder, Chief Financial Officer
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Approval of Minutes - Building Authority Regular Meeting - May 17, 2017
Attachments:
A motion was made by McGunn, seconded by McGuire, that this matter be Approved. The motion carried by the following vote:
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Resolved, that the Building Authority hereby approves the Meeting Minutes of May 17, 2017 as presented.
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Election of Chairperson
Attachments:
A motion was made by McGuire, 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 appoints Michael Kaszubski as Chairperson for 2018.
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Election of Treasurer
Attachments:
Michael McGuire nominated Joe Snyder to serve as Treasurer for the Building Authority.
A motion was made by McGunn, seconded by McGuire, that this matter be Approved. The motion CARRIED by the following vote:
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Resolved, that the Building Authority hereby appoints Joe Snyder as Treasurer for 2018.
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Election of Secretary
Attachments:
A motion was made by McGuire, seconded by Kaszubski, that this matter be Approved. The motion CARRIED by the following vote:
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Resolved, that the Building Authority hereby appoint Michael McGunn as Secretary for 2018.
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Annual Audit by Plante Moran (December 31, 2017 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 2, 2018.
He mentioned that the audit information is available on the City's website for review.
A motion was made by McGuire, 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 Plate & Moran, PLLC, as presented.
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Approval of 2019 Debt Payment
Attachments:
Joe Snyder stated the Building Authority has presented with a draft motion to authorize the payment for the 2019 principal and interest of the Building Authority bonds for City Hall, 2010-B, in the amount of $866,000.00 encompassing $785,000.00 in principal and $81,900.00 in interest. He noted that the authorization includes paying agent and cremation fees of $250.00.
He commented that as of December 31, 2017, there is principal amount remaining of $3,135,000.00. The bonds will be paid off in their entirely in Fiscal Year 2021.
A motion was made by McGunn, 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 approves and authorizes the payment of Eight Hundred and Sixty-Six thousand Nine Hundred Dollars and Zero centes [$866,900.00], 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 2019.
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2019-2021 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 2018 as at this point they are not expected to be needed.
Mr. Snyder mentioned that a multi-year budget is included for the Building Authority, encompassing 2019 to 2021.
A motion was made by McGuire, seconded by McGunn, that this matter be Approved. The motion carried by the following vote:
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Resolved, that the Rochester Hills Building Authority hereby approved the Proposed 2019 Budget for the Building Authority as presented in the amount of One Thousand Four Hundred and Ninety Dollars and Zero cents [$1,490.00].
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Cancellation of Remaining Scheduled Meetings for Fiscal Year 2018
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 McGuire, 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 the conclusion of its May 16, 2018 meeting the Building Authority has addressed all the business requiring Building Authority action for Fiscal Year 2018, 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 2018 is not necessary, and
Be it Further Resolved, that the Rochester Hills Building Authority hereby cancels it remaining meetings scheduled for Fiscal Year 2018.
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None.
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May 15, 2019 at 5:00 p.m.
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There being no further business to discuss, CFO Snyder adjourned the meeting at 5:14 p.m.
Minutes prepared by Andrea Quinn
Minutes were approved as presented/amended at the May 15, 2019 Regular Building Authority Meeting.
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Joe Snyder, Chief Financial Officer