March 18 2013 12:00 AM

Buying, selling property and a Committee of the Whole meeting on Council’s Thursday afternoon agenda

Wednesday, Nov. 2 – The Lansing City Council took Monday
night off for Halloween, so it’ll meet Thursday afternoon at 1:30 to discuss a
business loan and buying and selling property, followed by a Committee of the
Whole meeting.

The Council is scheduled to vote on selling the Thelma
Osteen Comfort Station in Old Town for $60,000 to a company representing the
Michigan Historical Preservation Network. The property was appraised in 2008
for $130,000, but its value has since diminished.

Because a for-profit entity will buy the property, the city
will receive property tax revenue on the property, which it currently does not.
Also, the development agreement promises to maintain plaques on the front of
the building honoring Fredith Taylor and Thelma Joyce Osteen.

In other business, the Council is scheduled to vote on
buying a .36-acre parcel east of REO Town to turn into a parking lot. The property,
at 416 E. South St. between Washington Avenue and Cedar Street, is valued at
$62,500. It's owned by KLG Property Management of Lansing. The parking lot would be for Public Service Department employees
working in the area, the resolution says. The city Planning Board unanimously
recommended approval for the purchase on Sept. 6.

In business development news, the Council is scheduled to
hold a public hearing and also vote on a “Main Street Loan Project” plan for
InPore Technologies for its facility near Collins and Dunckel Road in the southeast
corner of the city. The four-year loan, not to exceed $50,500, will be
administered by the Lansing Economic Development Corp. The loan will be used to
purchase and install new equipment for InPore’s “molecular bio-technology”
operations, the resolution says.

LEDC’s loan summary shows InPore “is in a start up growth
phase at this time and is still operating at a loss. The loan will allow InPore
to purchase the equipment necessary to move into larger batch production and in
turn increase revenue generated by the company. InPore’s management has
presented a solid growth strategy for the company and it is anticipated that
additional revenue growth will cover the agreed upon debt service.” The LEDC
will be paid back at 6.25 percent interest for two years.

The Committee of the Whole is scheduled to meet after the
Council’s regular meeting. Its agenda includes a quarterly report from state
Rep. Joan Bauer, D-Lansing; a first quarter city budget report; budget policies
and procedures for the next fiscal year as prepared by Council committees; a
tentative 2012 Committee of the Whole meeting schedule; and a report from the
Personnel Committee regarding a Council procedures and office policies manual.