Grand Rapids
Michigan

GR Agenda Item

Resolution approving and authorizing execution of a Grant Agreement with Grand Valley State University

Information

Department:Economic Development StaffSponsors:
Category:Agenda Action Request

Attachments

  1. Item Description
  2. GVSU aMDI Grant Agreement

Content A

Attached is a resolution approving and authorizing execution of a Grant Agreement with Grand Valley State University (GVSU) in an amount not to exceed $687,661 (the “Agreement”).

 

On December 8, 2017, the SmartZoneSM Local Development Finance Authority (LDFA) approved funding for a proposal from the applied Medical Device Institute (aMDI), a non-academic unit within GVSU, to expand the services offered to their incubator clients and address the barriers associated with time to market by piloting a 3D additive manufacturing program and producing pre-validated FDA packaging solutions, which are collectively called “Acceleration Med Device Product to Market” (the “Project”).  The period of performance for the Agreement will be for two and a half years, commencing on January 1, 2018.

 

To facilitate SmartZoneSM LDFA funding for the Project, Staff recommend approving and authorizing execution of the attached Grant Agreement between the SmartZoneSM LDFA and GVSU.

 

KLW/em

 

Attachments

Content C

CITY OF GRAND RAPIDS SMARTZONESM

LOCAL DEVELOPMENT FINANCE AUTHORITY

 

RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF A GRANT AGREEMENT WITH GRAND VALLEY STATE UNIVERSITY

 

              Boardmember                     , supported by Boardmember                     , moved the adoption of the following resolution:

 

              WHEREAS:

 

1.     The City of Grand Rapids SmartZoneSM Local Development Finance Authority (the “SmartZoneSM LDFA”) pursuant to the provisions of Act 281 of the Public Acts of Michigan of 1986, as amended (“Act 281”), and its Development Plan and Tax Increment Financing Plan (the “Plans”) seeks to provide resources to benefit start-up, high-technology business endeavors (as defined in Act 281) within the  Grand Rapids SmartZoneSM Certified Technology Park (as identified in the Plans); and

 

2.     Grand Valley State University (“GVSU”), through the applied Medical Device Institute (aMDI), a non-academic unit within GVSU, has launched a full-service incubator for medical device companies to assist with developing models, prototyping, fabricating, and testing, as well as business and market viability, commercialization, and financing; and

 

3.     GVSU plans to expand the services offered to their incubator clients and address the barriers associated with time to market by piloting a 3D additive manufacturing program and producing pre-validated FDA packaging solutions, which are collectively called “Acceleration Med Device Product to Market” (the “Project”) and has requested that the SmartZoneSM LDFA underwrite a portion of the cost; and

 

4.     The SmartZoneSM LDFA is willing to underwrite a portion of the cost the Project in an amount not to exceed $687,661 subject to the terms and conditions of a Grant Agreement between the SmartZoneSM LDFA  and GVSU (the “Agreement”); therefore

 

              RESOLVED:

 

1.     That the Agreement between the SmartZoneSM LDFA and GVSU substantially in the form presented at this meeting is approved with such modifications not materially adverse to the SmartZoneSM LDFA, approved as to content by the SmartZoneSM LDFA’s Executive Director and as to form by the SmartZoneSM LDFA’s legal counsel; and

 

2.     That the Chairperson of the Board of Directors of the SmartZoneSM LDFA is authorized and directed to execute the approved Agreement for and on behalf of the SmartZoneSM LDFA; and

 

3.     That all resolutions and parts of resolutions insofar as they conflict with the provisions of this resolution be and the same are hereby rescinded.

 

 

 

YEAS:                            Boardmembers                                                                                                                              

 

NAYS:              Boardmembers                                                                                                                              

 

ABSTAIN:              Boardmembers                                                                                                                              

 

ABSENT:              Boardmembers                                                                                                                              

 

 

RESOLUTION DECLARED ADOPTED.

 

 

Dated:  March 16, 2018                                                                                                                                           

                                                                                                  Jerry Callahan, Secretary

 

 

CERTIFICATION

 

              I, the undersigned duly qualified and acting Secretary of the City of Grand Rapids SmartZoneSM Local Development Finance Authority (the “SmartZoneSM LDFA”), do hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Board of Directors of the SmartZoneSM LDFA at a meeting held on March 16, 2018, and that public notice of said meeting was given pursuant to, and in accordance with, Act 267 of the Public Acts of Michigan of 1976, as amended.

 

 

Dated:  March 16, 2018                                                                                                                                           

                                                                                                  Jerry Callahan, Secretary