Stories indexed with the term ‘Ann Arbor Spark’

Washtenaw County Economic Development Corporation board meeting (March 15, 2010): On Monday, the EDC board met for just the second time since 2005. On the agenda: A discussion about the availability of federal bonds that have been allocated to Washtenaw County, but not used, for projects by private firms.

Though federal legislation expanded the types of businesses that can use the bonds, a national credit crunch has essentially slowed potential deals to a halt. “We await the projects,” said John Axe, the EDC’s bond counsel. Unless extended by Congress, the program expires at the end of 2010. [Full Story]

The Vandenberg Room at the Michigan League was packed for a state legislative hearing on funding for higher education.

The three presidents of institutions in Michigan’s University Research Corridor – backed by students and economic development leaders from each region – testified at a state Senate Higher Education Subcommittee hearing on Friday held in Ann Arbor, making a plea for additional state funding. But while legislators at the hearing acknowledged the importance of higher education, they also gave a bleak outlook for Michigan’s financial health, with one senator describing state revenues as “almost in a freefall.”

State Sen. Jim Barcia, a Democrat from Bay City, told the 50 or so people gathered at the Michigan League that a revenue estimate released earlier in the day was “worse news than anticipated.” The Senate Fiscal Agency estimated that revenues could be $2.1 billion lower than projected for the coming fiscal year, which begins Oct. 1. Even in the current fiscal year, the state faces a $1.3 billion deficit that has prompted another round of cuts. Despite that, Barcia said the students who testified on Friday – including a recent University of Michigan graduate who has launched a new company – gave him reason for optimism. [Full Story]

Layers of history are preserved on the wall of SPARK East in downtown Ypsilanti.

On Friday, May 8, the renovated Ypsilanti storefront that houses SPARK East will be open to the public for a look at the business services offered there. The event is part of a larger economic development effort on Washtenaw County’s east side, an effort that’s getting a boost from federal stimulus funding – or what one county official called “Obama bucks.”

Last Thursday, about 40 members of the Eastern Leaders Group got an overview of the 2009 Recovery and Reinvestment Rapid Response Strategy Business Plan, which had been approved by the ELG executive committee in mid-April. Held at the brick-walled SPARK East office on Michigan Avenue, the meeting covered a lot of ground, from neighborhood revitalization efforts to a plan for microloans to businesses.

The Chronicle dropped by to hear about the plan too. Though the meeting was decidedly forward looking, there was an element of history at SPARK East as well – more on that later. We’ll start with a look at the three main topics covered on Thursday: 1) business development and employee training, 2) microloan programs, and 3) community revitalization and stabilization plans. [Full Story]

As part of their look to the future, LDFA board members placed their sticky notes identifying the purpose of the LDFA to a giant poster on the wall. (Image links to high resolution image of entire poster.)

It was not anything personal, said Stephen Rapundalo to Skip Simms, who was sitting across the U-shaped configuration of tables from Rapundalo. He had just voted against Simms’ appointment to the Local Development Finance Authority board.

But over Rapundalo’s objection, shared also by his colleague on the board, Rob Risser, the body voted to add an ex-officio, non-voting seat to the LDFA board, which was filled by Simms. The occasion of the vote on Tuesday morning, held at the SPARK Central Incubator on Liberty Street, was the LDFA board’s regular meeting, which was also billed as a retreat – a facilitator was on hand to lead the group through an exercise to reflect on the organization’s purpose.

As Rapundalo’s assurance to Simms reflected, the new seat on the board was not created for Simms personally, but rather was specified as the designee of “the accelerator’s CEO,” who in this case was Michael Finney of Ann Arbor SPARK. Finney had designated Simms. SPARK contracts with the LDFA to provide services to high-tech start-up companies, and Simms is SPARK’s managing director of business acceleration as well as manager of the Michigan Pre-Seed Capital Fund.

Simms already had a seat at the physical board table when the board’s deliberations took place on the creation of the ex-officio position. So why were Rapundalo and Risser opposed to the expansion of the board in this way? [Full Story]

Marcia Higgins (Ward 4) holds a red ribbon representing the general fund dollars in the Ann Arbor city budget. In the background are Mayor John Hieftje and Jim Mogensen, who gave a presentation during public commentary.

Ann Arbor City Council Meeting (April 20, 2009): At its Monday night meeting, Ann Arbor city councilmembers approved around $1.3 million in human services funding (after a “red-ribbon” presentation during public commentary on that subject).

They also heard the 2008 annual report from the chair of the local development finance authority (who was closely questioned by councilmember Marcia Higgins), allowed Tios an early exit to its lease, accommodated the University of Michigan’s request for a lane closure in connection with the football stadium renovation, and rejected the planning commission’s adopted downtown plan (which was expected) – which bumps the final decision on A2D2 zoning to early July.

During public commentary, council again heard support for  public art, a critique of the proposed early-out option for police officers as a part of the proposed budget, a suggestion to remove the East Stadium bridge, as well as Jim Mogensen’s “red ribbon” presentation.

Roger Fraser also gave the official presentation of the city’s budget, which had been presented twice previously last week – at a working session and also at a town hall meeting. [Full Story]

At their Nov. 6 working session, the Washtenaw County Board of Commissioners heard from leaders of the Detroit Region Aerotropolis initiative, the Ann Arbor Community Success project and Ann Arbor Spark, who all gave reports about their efforts to bring jobs to this area and who laid the groundwork to ask for funding and resources from the county. [Full Story]