VBT LDFA asks McNamara to get legal advice on bond solution

After a 44-minute closed-door session during a special meeting April 16, the Van Buren Township Local Development Finance Authority came into open session and passed a motion.
The motion by LDFA Corresponding Secretary John Delaney, supported by Doug Peters, was:
“To provide the direction that the township supervisor engage legal counsel to review the proposed agreement to address the upcoming shortfall on the Visteon bonds becoming due Oct. 1, 2019 between the Van Buren Township Local Development Finance Authority (LDFA) and Van Buren Township Board of Trustees, on behalf of the LDFA, and to authorize Chairperson [Michael] Dotson to execute an agreement for these services not to exceed $5,000. Motion carried.”
The meeting was called to order at 3:03 p.m. and those present went into closed session to discuss an attorney client letter dated March 18, 2019, pursuant to MCL 15.268, Section 8(h) of the Open Meetings Act.
LDFA members present at the closed session were Chairman Dotson, Vice Chairman Chuck Covington, Corresponding Secretary Delaney, Supervisor Kevin McNamara, Peters, James Williams, Sara Cortese, David Schreiber, and Scott Medlen.
As soon as the meeting was closed to the public, Medlen declared a conflict of interest regarding the closed session topic and excused himself from the meeting at 3:05 p.m. The board members voted to support him leaving the session.
Medlen represents Sovereign Partners, the new owners of what originally was Visteon Village and now is Grace Lake Corporate Center. The bonds that were to be discussed were sold by Van Buren Township to help build Visteon Village.
The LDFA pays the bonds from its captured taxes and, as of Oct. 1, the tax money won’t be enough to cover the bond payment. The township, which is responsible for the bonds if the LDFA can’t pay, has set money aside for the bond payment.
The letter asks that the details of this transaction be reviewed by an attorney.
At the May 14 regular LDFA meeting, Peters asked about the letter to the board and was told it will be ready to look at during the next LDFA meeting, which is on July 9.