Title
Revisions to the SmartZone (LDFA) By-Laws
Memorandum
On April 16, 2019, the SmartZone (LDFA) board approved revisions to their bylaws. The revisions were necessary for the following reasons:
* The composition of the board was recently modified per the MEDC to incorporate a representative from the county and a representative from Washtenaw Community College. Revisions to the by-laws were necessary to be consistent with this change.
* The SmartZone's Development and TIF Agreement with Ypsilanti and the State were updated in 2017. Revisions required in the by-laws were necessary to be consistent with this Agreement. (For example, 10% of the funds are now required to be expended in Ypsilanti according to the new agreement.)
* Changes to ensure the by-laws are compliant with State statute. (For example, the term of the Ann Arbor City Council member must be for four years unless they step down or Council removes them.)
* Changes were made to support the administration of the board. (For example, an ex-officio from each community and the accelerator are now required. This is necessary given the increased activity and complexity of the support required under the new agreement.)
* Clean-up and clarification edits.
In order for amended by-laws to become effective, they must be approved by the SmartZone board by a two meeting process. This was completed April 16, 2019. The revised by-laws are then shared with the City Clerk for both Ann Arbor and Ypsilanti. The City Councils of each community then have 30 days from the date the City Clerk receives them to object to the by-laws or they become effective.
The Ann Arbor City Clerk received the amended by-laws on May 7, 2019 so the 30 day period expires on June 6, 2019.
The SmartZone board recommends and requests adoption of the revised by-laws.
Staff
Prepared by: Tom Crawford, Financial Services Area Administrator and CFO
Reviewed by: Matt Thomas, Assistant City Attorney
Approved by: Howard S. Lazarus, Cit...
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