Council day

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

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

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

In other business, the Council is scheduled to vote onbuying 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 employeesworking in the area, the resolution says. The city Planning Board unanimouslyrecommended approval for the purchase on Sept. 6.

In business development news, the Council is scheduled tohold a public hearing and also vote on a “Main Street Loan Project” plan forInPore Technologies for its facility near Collins and Dunckel Road in the southeastcorner of the city. The four-year loan, not to exceed $50,500, will beadministered by the Lansing Economic Development Corp. The loan will be used topurchase 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 growthphase at this time and is still operating at a loss. The loan will allow InPoreto purchase the equipment necessary to move into larger batch production and inturn increase revenue generated by the company. InPore’s management haspresented a solid growth strategy for the company and it is anticipated thatadditional revenue growth will cover the agreed upon debt service.” The LEDCwill be paid back at 6.25 percent interest for two years.

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