LDFA seeks more information from Van Buren on Grace Lake

Michael Dotson, chairman of the Van Buren Township Local Development Finance Authority, showed some irritation with the township at the LDFA’s regular meeting on July 12.
He said he wants the township to be more forthcoming with information concerning Grace Lake, which the LDFA is trying to develop so more property tax money will come in to help with the Visteon bond shortfall.
First was the financial audit presented to the LDFA at the meeting by Ron Akers, VBT director of planning and economic development.
“Was anything mentioned about the bond?” Akers said referring to the audit and Akers said he didn’t know but would report back at the next meeting in September.
Dotson asked if there were any concerns raised or anything missing.
“We need more time to study this,” Dotson said. “We should get it sooner, not at the meeting.”
Akers said the audit for the 2015 fiscal year was completed and submitted to the state by June 30.
LDFA member John Delaney said the audit should be a marketing tool.
LDFA member Shareen Barker said the audit is not regarding the balance sheet.
“It’s the responsibility of any auditor to disclose any problems,” Dotson said.
The Independent said that the LDFA audit is part of the VBT audit and the auditor discussed the whole audit at length before the VBT Board of Trustees at a recent meeting. The discussion on the bond by the Plante Moran representative was lengthy.
Then, Akers reported on an Aerotropolis Asset Familiarization Tour that recently toured Grace Lake Corporate Center (the former Visteon Village) among other locations in the area. Akers said he and Downtown Development Authority Director Susan Ireland gave presentations on the township.
“This is just to let you know what’s going on,” Akers said.
“I’m very, very, very disappointed the LDFA was not told about it,” Delaney said. “When we’re absent from something like this… It’s not that Dotson’s not invited … We need to get involved. This is a corporate body …
“We’ve got a bond coming up,” Delaney continued. “We’ve got a jewel here and we need to promote it … You need to allow us to work on this. Where’s that special meeting with the board we were supposed to have?”
Akers said the Detroit Regional Aerotropolis had limited spaces and the township supervisor was invited to attend and Akers was asked to attend in her stead.
“I see the DDA was there,” Delaney said.
Akers said as opportunities arrive in the future he will get word to the LDFA.
“I agree with almost everything he [Delaney] said – the first time ever,” Dotson said. “This is an area of utmost importance, more in terms of the community … So we can have the best presentation before these Site Selectors … We need to put on a dog and pony show and have our pony as brushed and pretty as anyone can imagine … It’s an amazing location … So many things we’re not telling about it … We’re not telling our story… We need to go to these events so we can bring back to our board what is going on. Please bring these things back to our board.”
In other business at the regular meeting on July 12, the LDFA:
• Welcomed LDFA member Danylo Dobriansky to his first meeting after being appointed a year ago. Dobriansky is asset manager for Sovereign Partners, who purchased Visteon Village from Visteon. Dobriansky is based in New York City and he said he flew out to VBT twice for LDFA meetings but they were cancelled at the last minute due to lack of a quorum;
• Discussed the proposed revision to the bylaws to allow members to teleconference when they can’t be at the meeting in person and sent it back to Akers for additional research and information on certain details. Dotson directed Akers to send the information to him and he will relay it to everyone so they will have time to study it and be ready to accept something at the next meeting;
• Heard Dobriansky report that Grace Lake Corporate Center is fully occupied after City Bank moved in about a month ago. He said they attracted City Bank from Ann Arbor. Delaney asked if Dickinson Wright, the lawfirm representing Visteon, is the counsel for Sovereign and Dobriansky said Dickinson Wright is a tenant of Sovereign in Detroit. And, “We are not Visteon. Visteon is our tenant”;
• Heard Akers update on the Ecorse Road property the LDFA wants to sell. The rezoning from Agricultural to Commercial zoning was expected to be on the July 18 work/study agenda of the township board, with the first reading before the board on July 19, the second reading Aug. 16 and publication in the Independent on Aug. 25. Akers said he will be back at the next meeting to discuss details of the public sale. LDFA member Leonard Armstrong asked the difference in price to expect between C zoning and the C-1 zoning that was first requested and Akers didn’t know. The appraisal for the property as AG is two years old and Dobriansky said an appraiser has to look at the fact right now to make a determination;
• Heard Dobriansky report Sovereign is marketing the vacant Grace Lake property as build-to-suit, but businesses don’t want to wait 18-19 months to occupy. He said Sovereign had submitted plans to VBT for a sign to put along I-275 three times and was turned down three times. They submitted a request to the National Highway Transportation Board, but VBT has jurisdiction. “We’re not looking for something ostentatious,” Dobriansky said. Delaney said the LDFA wants to partner with Sovereign to market the property. Dobriansky said VBT would only approve a small directional sign saying “This Way to Grace Lake.” Deputy Director of Planning and Economic Development Matthew Best said they sent word to Sovereign about the sign and that they were willing to fight for Sovereign’s sign. He said it was more appropriate for Sovereign to go through the planning commission. He said the township contacted Sovereign’s sign company and has given it guidance and are waiting for a reply. Dotson, again, said the LDFA would like to be made aware of what’s going on with Grace Lake;
• Heard Delaney ask about maintenance of the public trails at Grace Lake and Dobriansky’s reply that Sovereign has a landscaping company under contract that maintains the trails and it was out that same day with chain saws cleaning up from the storm. When asked about the flooding from time to time, Dobriansky said it is a wetlands. He said they had a few charity races there 5-10K and they do see a lot of international use of the trails; and
• Heard Delaney inquire into the meeting the LDFA asked for with the township board and attorney Kaveh Kashef “to find out what the hell’s going on” with Visteon. The joint meeting also was requested at a board work/study session by board members Miller, Hart, and Jahr, said Delaney. Akers said he would follow up.
In the audience was former planning commissioner Carl Johnson who said his figures show the township will be a half-million dollars short in 2019 for payment on the Visteon bonds and two million dollars short in 2020.