public board packet

8/7/2019 Public Board Packet

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GreaterNewOrleansBiosciencesEconomicDevelopmentDistrict

BoardofCommissionersMeeting

Tuesday,January13,2011,12:00p.m.1:30p.m.

Location:134LaSalleStreet,NewOrleans,LA70112

I.

CalltoOrder

II. RollCallIII. AdoptAgendaIV. IntroductionofGuestsV. PublicInputCardsVI. AdoptionoftheMinutesVII. ChairsReport

a.SoftLandingCenterorAlternativeOfficeSpaceVIII. TreasurersReport

a.Financials:November2010b.Proposed2011Budgetc.TaxIncrementFinancingDistrictd.Audit

IX. PresidentsReporta.Operations

i.BioSummitii.BoardDiscussion

b.OrganizationalFundingandOperationsi.ProgrammingUpdate

1.BusinessDevelopment2.WorkforceDevelopment-MOUw/BESE

a.BioTechCareerPathwayb.WorkforceCollaborative

c.ProjectUpdatei.MasterPlanning--AECOMAlternativePlanPresentationii.CharityComplexDispositioniii.BoardDiscussion

X. OtherOldBusinessXI. NewBusiness:PublicComment(s)XII. ExecutiveSessionXIII. Adjournment


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Greater New Orleans

Biosciences Economic Development District (GNOBEDD)

Board of Commissioners Meeting Minutes

MinutesNovember2010.doc Page 1 of 5

Date: Tuesday, November 16, 2010Time: 10:00 a.m. 11:30 a.m. (CST)Location: New Orleans BioInnovation Center, Inc.

134 LaSalle StreetNew Orleans, Louisiana 70112

ATTENDANCE:

- Quorum MEMBERS PRESENT

Dr. Gene DAmour(via teleconference) Xavier UniversityMr. Harold Gaspard (via teleconference) Delgado Community CollegeMs. Yvette Jones (via teleconference) Tulane UniversityDr. Larry Hollier(via teleconference) LSUHSC

Dr. Robert Bobby Savoie (via teleconference) Geocent, LLCMr. Nolan Marshall, III (via teleconference) Common GoodDr. Wayne Riley (via teleconference) Meharry Medical CollegeMr. Roger H. Ogden (via teleconference) Ogden Consulting, LLCMEMBERS ABSENTMrs. Kimberly Lee Dryades Savings BankMr. Henry Hays Amylin PharmaceuticalsDr. Patrick Quinlan Ochsner HospitalMr. Hal Brown Fortune Development, LLC

GNOBEDD StaffJames P. McNamara President and CEOBonita Robertson Special CounselJaime Guillory ControllerThe following is a summary of the actions taken at the Special Meeting of the GNOBEDD Board ofCommissioners, November 16, 2010:

I. WELCOME/CALL TO ORDERa.Roll Call 10:05 a.m.

II. ADOPT THE AGENDAa.Change the order of the Agenda dated November 16, 2010 to move action items to

the top of the agenda.

ACTION/MOTION


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On MOTION made by Commissioner Gaspard, and seconded by CommissionerMarshall the Board accepted the November 16, 2010 agenda.

III. PUBLIC INPUT CARDSNo public input cards were submitted.

IV. APPROVAL OF THE MINUTES - August 17, 2010

ACTION/MOTION

On MOTION made by Commissioner Gaspard, and seconded by Vice Chair Jones,the August 17, 2010 minutes were approved with no suggested changes.

V. CHAIRS REPORTa.RECOGNITION OF NEW BOARD MEMBER ANDREW KOPPLIN

Chairman DAmour recognized new board member Mr. Andrew Kopplin who servesas First Deputy Mayor and CAO for the City of New Orleans. Mayor, MitchLandrieu, appointed Mr. Kopplin to the board.

b.RESOLUTION FOR DR. SANDRA ROBINSONChairman DAmour introduced the Resolution to recognize Dr. Sandra Robinson forher outstanding service and contribution to the BioDistricts Board ofCommissioners.

ACTION/MOTION

On MOTION made by Vice Chair Jones, and seconded by Commissioner Gaspardthe resolution for Dr. Sandra Robinson was unanimously approved.

c.QUARTERLY MEETINGS OF BOARD OF COMMISSIONERSChairman DAmour proposed changing the monthly Board of Commissionersmeetings to quarterly meetings to improve attendance and productivity. Thelanguage of the amendment to the bylaws providing for quarterly meetings was readaloud to Commissioners.

ACTION/MOTION

On MOTION made by Commissioner Gaspard and seconded by Vice Chair Jones,the Motion was unanimously approved.

VI. PRESIDENTS REPORT

a.RESOLUTION TO AMEND MANAGEMENT AGREEMENT WITH NOBIC


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President McNamara proposed a one-time payment in the amount of $2,476.00payable to New Orleans BioInnovation Center to cover additional expenses incurredfrom the change in employment and transition from Alexandra Nielson to BonitaRobertson.

ACTION/MOTION

On MOTION made by Commissioner Gaspard and seconded by ChairmanDAmour the motion was approved with no opposition.

b.RESOLUTION TO AMEND AECOM CONTRACT BY ADDITION OF$50,000

President McNamara proposed the shifting of $50,000 from the current funds to theAECOM contract to allow AECOM to provide legislative services to the BioDistrict.Vice-Chair Jones inquired about any mechanisms or contingency plans that are in

place for next year to secure funding for the BioDistrict. Mr. McNamara stated thatthe purpose of the AECOM legislative services contract is to implement a TaxIncrement Financing (TIF) structure, which would allow the BioDistrict to secure aportion of the taxes produced from the construction of both the new VA hospital andUniversity Medical Center (UMC). President McNamara stated that the TIF structureis the most viable option at this point in lieu of a tobacco tax and that Dr.Richardsons research serves as support for the TIF structure.

ACTION/MOTION

On MOTION made by Vice-Chair Jones, and seconded by Commissioner Gaspard,the Board approved the motion with no opposition.

VII. TREASURERS REPORTa.September and October 2010 Financial Statements

a.On MOTION made by Commissioner Gaspard, and seconded by ChairmanDAmour, the Board unanimously accepted the September 2010 FinancialStatements.

b.On MOTION made by Commissioner Gaspard, and seconded by ChairmanDAmour, the Board unanimously accepted the October 2010 FinancialStatements.

b.Affirmation of Postlethwaite & NettervilleCommissioner Marshall stated that the Board already discussed the qualifications ofthe auditing firm of Postlethwaite & Netterville and the Board simply needed toaffirm that Postlethwaite & Netterville was the top rated firm based on the FinanceCommittees grading.


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On MOTION made by Vice Chair Jones and seconded by Commissioner Gaspard,the Board unanimously voted to affirm Postlethwaite & Netterville as the top ratedauditing firm.

c.Resolution Authorizing Contract Approval of Postlethwaite & NettervilleCommissioner Marshall introduced the resolution that allows President McNamara,on behalf of the BioDistrict, to execute the professional services contract by andbetween Postlethwaite & Netterville and the BioDistrict to perform auditing services.On MOTION made by Commissioner Gaspard and seconded by Vice Chair Jones,the Board unanimously voted to authorize the approval and execution of thePostlethwaite & Netterville professional services contract.

VIII.OTHER OLD BUSINESSCommissioner Gaspard confirmed that Board Meetings would now be held every three(3) months on the second Thursday of the month at noon.

IX. OTHER NEW BUSINESSNone

X. EXECUTIVE SESSIONNo Executive Session was held.

XI. ADJOURNMENT

MOTION was made by Vice Chair Jones to adjourn; seconded by CommissionerGaspard. The Board of Commissioners Meeting adjourned at 10:38 a.m.

Next Board Meeting:

January 13, 2011, 12:00 p.m. to 1:30 p.m.


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Certificate

The undersigned, Secretary of the Corporation, certifies that the above and foregoing are true and correctminutes of the meeting of the Board of Commissioners held on November 16, 2010.

________________________________________Mr. Nolan Marshall, III - Secretary

THIS MEMORANDUM IS SUBMITTED FOR THE PURPOSE OF SUMMARIZING THE

IMPORTANT DETAILS OF THE MEETING NOTED ABOVE AND TO CONFIRM THEUNDERESTANDING OF THE ITEMS DISCUSSED. PLEASE READ CAREFULLY AND NOTIFY

US PROMPTLY OF ANY CHANGES OR CORRECTIONS TO BE MADE.


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Groups:gnobedd:GNOBEDD:GNOBEDD MEETINGS:Finance Committee Meetings:2011:GNOBEDD Financials 11-30-10.xls

GNOBEDD

Statement of ActivitiesJanuary 2010 through November 2010

Jan - Nov'10Ordinary Income/Expense

Income

Direct Public Suppport

Individ, Business Contributions 41.79

Total Direct Public Support 41.79

Government Grant Revenue

Reimbursed Expenses

Reimb Rent 55,445.80

Reimb Consulting 1,121,207.00

Reimb Ofcers & Directors Sal 129,792.36

Total Reimbursed Expenses 1,306,445.16

Local Government Grants 133,006.00

Total Government Grant Revenue 1,439,451.16

Total Income 1,439,492.95

Expense

Salaries and Related Expenses

Payroll Taxes 8,615.37

Ofcers & Directors Salaries 121,176.99

Total Salaries and Related Expenses 129,792.36

Payroll Expenses 526.00

Occupancy

Rent 55,445.80

Total Occupancy 55,445.80

Operations-NonPersonnel Expense

Supplies 80.79Postage & Shipping 21.78

Printing and Copying 31.61

Total Operations-NonPersonnel Expense 134.18

Travel and Meetings

Travel 2,707.26

Conference, Convention, Meeting 2,023.11

Total Travel and Meetings 4,730.37

Contract Services Expense

Consulting 1,122,345.52

Outside Contract Services 83.08

Total Contract Services Expense 1,122,428.60

Other Types of Expenses

Marketing Expense 17,385.06

Membership Dues-Organization 400.00

Insurance - Liability, D and O 3,408.50

Other Costs 222.74

Total Other Types of Expenses 21,416.30

Total Expense 1,334,473.61

Change in Net Assets 105,019.34


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Groups:gnobedd:GNOBEDD:GNOBEDD MEETINGS:Finance Committee Meetings:2011:GNOBEDD Financials 11-30-

10.xls

GNOBEDD

Statement of Financial PositionAs of November 30, 2010

November 30, '10ASSETS

Current Assets

Checking/Savings

Cash

Whitney-Operating 49,770.08

Total Cash 49,770.08

Total Checking/Savings 49,770.08

Accounts Receivable

Contributions Receivable

Grants Receivable 311,709.49

Total Contributions Receivable 311,709.49

Total Accounts Receivable 311,709.49

Other Current Assets

Prepaid Expenses 681.75

Total Other Current Assets 681.75

Total Current Assets 362,161.32

TOTAL ASSETS 362,161.32LIABILITIES & NET ASSETS

Liabilities

Current Liabilities

Accounts Payable 256,143.41

Unearned/Deferred Revenue 400.00

Total Current Liabilities 256,543.41

Total Liabilities 256,543.41

Net Assets

Retained Earnings 598.57

Unrestricted 105,019.34

Total Net Assets 105,617.91

TOTAL LIABILITIES & NET ASSETS 362,161.32


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Groups:gnobedd:GNOBEDD:GNOBEDD MEETINGS:Finance Committee Meetings:2011:GNOBEDD Financials 11-30-10.xls

GNOBEDD

Budget vs. ActualJanuary 2010 through November 2010

AnnualBudget YTD Budget YTD ActualBudgetSurplus/

(Shortage)

Income

Government Grant Revenue -

City Appropriation CEA 100,000 91,667 133,006 41,339

EDF Grant 50,000 45,833 - (45,833)

Operations LRA 2,400,000 2,200,000 1,306,445 (893,555)

Fundraising - - 42 42

Total Income 2,550,000 2,337,500 1,439,493 (898,007)

Expense

Ofcers & Directors Salaries 175,000 160,417 121,177 39,240

Benefits 66,500 60,958 8,615 52,343

Legal 10,000 9,167 - 9,167

Auditing 7,500 6,875 - 6,875

Insurance 4,090 3,749 3,409 341

Marketing 30,000 27,500 17,385 10,115

Consulting 2,173,000 1,991,917 1,122,346 869,571

Occupancy 66,535 60,990 55,446 5,545

Travel, Memberships, & Misc. 10,000 9,167 6,096 3,070

Total Expense 2,542,625 2,330,740 1,334,474 996,266

Change in Net Assets 7,375 6,760 105,019 98,259

**Officers&DirectorsSalaries:AmountreflectscurrentbilledtoCEAbasedonMr.McNamarashours,notsalary.Mr.

McNamaraispaidonasalarybasisaccordingtotheapprovedbudget;thereforeanybudgetsurplus/shortageinthis

areawillbeadjustedatyeare

**


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egory YR1 YR2 YR3 YR4 YR5 5YrTotal

venue

teAppropria+on $100,000 $265,000 $280,000 $285,000 $290,000 $1,220,000

unda+onGrants $0 $0 $0 $0 $0 $0

her(EDFGrant) $50,000 $100,000 $100,000 $200,000 $200,000 $650,000

rtnerMatch(Univ&Bus) $0 $100,000 $100,000 $100,000 $100,000 $400,000

nReoccurringRevenue $2,400,000 $125,000 $127,500 $130,000 $132,650 $2,915,150

stainableRevenueSource $0 $0 $0 $0 $0 $0

talProgramRevenue $2,550,000 $590,000 $607,500 $715,000 $722,650 $5,185,150

sts

sident&CEO $175,000 $175,000 $180,250 $185,658 $191,227 $732,135

ecialCounsel $0 $55,000 $56,650 $58,350 $60,100 $230,099

dministra+veAssistant $0 $40,000 $41,200 $42,436 $43,709 $167,345

rsonnelSalary $175,000 $270,000 $278,100 $286,443 $295,036 $1,304,579

nges&Benefits $66,500 $108,000 $111,240 $114,577 $118,015 $518,332

gal $10,000 $10,000 $10,000 $10,000 $10,000 $50,000

di+ng $7,500 $7,500 $7,500 $7,500 $7,500 $37,500

urance $4,090 $4,295 $4,509 $4,735 $4,971 $22,600

arke+ng $30,000 $30,000 $30,000 $150,000 $150,000 $390,000

nsultantsandTechnicalAssistance $2,173,000 $75,000 $60,000 $30,000 $30,000 $2,368,000

nt,U+li+es,Equipment,Supplies(NOBIC) $66,535 $70,000 $80,000 $80,000 $80,000 $376,535

vel,Memberships&Misc(Mvng/Advt) $10,000 $10,000 $10,000 $10,000 $10,000 $50,000talProgramCosts $2,542,625 $584,795 $591,349 $693,255 $705,522 $5,117,546

ogramBalance $7,375 $5,206 $16,151 $21,745 $17,128 $67,604

TES:

Developmentofrealestate/fundingstrategy(matchtoexis+ngBCMgrant)toachieveorganiza+onalsustainability:$90,000(tobeextendedintoYr2and3asneeded)

One+meAuditforDec.1,2009-Dec.31,2010

Assumesa5%annualgrowth

GNOBEDDmasterplan,economicbaselinestudy,trafficengineeringtoincludetheen+reBiosceinceDistrict

NOBICAgreement

GNOBEDDGeneral5YearBudgetProjecFon

2009-10StateAppropriataonfor$100,000receivedbytheCity.FutureyearsassumestheStateStreamliningacviesopensupnewo

AssumescurrentGrantrequestisfudedinpart.


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