2010-08-31 BM

Document Sample
2010-08-31 BM Powered By Docstoc
					                                Florida Atlantic Research & Development Authority
                                            Board of Directors Meeting
                                                  August 31, 2010

M.J. Mike Arts, Absent
Michael Daszkal, Chair
Lonnie Maier
Dr. Mike Moriarty
Dr. Bob Parks, Absent
Robert Swindell
Roxanna Trinka, Absent

Jeffrey Siniawsky, Attorney

Also Present:
Dana Chase – Hold Thyssen, Dyana Kenney – Flagler Real Estate, Albert Livingston – HDG Mansur, Howard Prentice – FAU
TRAC Committee, Jane Teague – EDC, Christine Cannon – EDC, Andrew Duffell – Business Development Board, Scott
Preiser – SouthPoint Energy.

The meeting was called to order at 8:08AM.

Minutes Approval:
Motion to approve the 6/8/2010 minutes. Motion by Mr. Bob Swindell, seconded by Ms. Lonnie Maier, all in favor,

Chair’s Report:
Mr. Daszkal commended Mr. Siniawsky for keeping FARDA affairs in order and also for keeping the board well informed.
Mr. Daszkal said that they held their 1st Selection Committee meeting in the beginning of August and pulled together a
job description and “Want Ad” for the position. The ad was published in the South Florida Business Journal; which began
running on Friday, the 27 and the Association of University of Research Parks (AURP) website and newsletter. Both ads
will run for 4 weeks until the deadline for resume submissions which is September 30 The committee has agreed on a
procedure in which they will follow during the selection process. Ms. Cannon will be responsible for receiving and
tracking all resumes that come in and present them to the committee prior to each meeting. The committee will review
      st                                         th              nd
the 1 batch of resumes at the September 15 meeting; the 2 and final batch of resumes will be reviewed at the
October 13 meeting.

Interim President’s Report:
Mr. Siniawsky informed the board of a couple new tenants that joined the incubator program and gave an overview of
each company.
SurgiTrace, whom was also approved by the FAU TRAC committee for the Research Park; has technology for tracking
medical devices in long range and real time across the globe. Mr. Bob Salvat, CEO of SurgiTrace originally wanted to move
into the Research Park during the spring, when Mr. Ellington was working with him but experienced some setbacks and
decided the Incubator would be a better fit at this time. SurgiTrace plans to be in the incubator for 3-4 months prior to
moving into the Research Park.

Aquatix is a company specializing in water technologies/products, analytical services and associated business consulting.
Mr. Siniawsky and Ms. Cannon met with Mr. Richard Coffey in the beginning of August. Mr. Coffey has also made
arrangements with the Research Park since he needs sufficient space to operate and store his lab equipment. He is
leasing between 900 – 1000sf in the Research Park and has also signed a lease for a small office at the TBI. Mr. Siniawsky
also added that he has a meeting this morning with a Mr. Ron Codington of Water Management Solutions and hopes to
make introductions to create some synergy between the water technology companies in our network.

Mr. Siniawsky said that the incubator did lose 2 incubator tenants due to financial hardships, however one of which will
remain a mailbox tenant for $100.00 per month.

                                                                                                            Page 1 of 3
Mr. Siniawsky introduced Mr. Scott Preiser of SouthPoint Energy to the group and said that he has been working closely
with Mr. Preiser of getting FACT (Florida Atlantic Clean Tech) in motion. Mr. Siniawsky gave the Board an overview of
FACT and the progress to date in discussions to bring FACT to the Boca Park.

Research Park:
Mr. Siniawsky had a meeting with a Mr. Ed West of Environmentally Controlled Waste which has developed a technology
for taking landscape clippings and food and composting it in a non-invasive manner that does not produce odors or
fumes. The company currently has an agreement with the gulf course at Broken Sound and believes that 17 acres that we
have in our Research Park would be sufficient for their needs. Mr. Siniawsky put them in touch with Albert Livingston who
has been in contact with them.

ARC has a charter school who has been an early tenant since 2001 or 2002. They had a good relationship with FAU in the
past which Tiffany North, new principal of ARC is hoping to revive. The ARC engineering school developed a musical
wheelchair that they would like to get up and running. Mr. Siniawsky reached out to Brenda Coto and Kim Gramm and
three will be meeting sometime soon to reestablish ties.

Sandow Media is a Research Park success story in the size and number of employees. They wish to do more with FAU and
have taken on more space within the park.

Mr. Siniawsky met Dr. Bulis of Zenco who occupies the US Bio building. They are one of the largest environmental
consulting testing firms around. Mr. Siniawsky met with Brenda Coto and Kim Gramm to discuss Zenco’s relationship with
the University.

Mr. Siniawsky announced that tomorrow at 10am, the President will be giving her State of the University address and
added that all are welcome to attend.

Attorney’s Report:

Resolution 10-05:

Motion to approve Resolution 10-05: Motion by Mr. Swindell, seconded by Ms. Maier. Approved by roll call vote, 6-0

Treasurer’s Report:
Mr. Swindell went over the financials and said FARDA’s in good shape with about $400k in the bank. FARDA budgeted a
$33k surplus for the year and right now we’re at an $18k surplus. He’s not expecting any changes between now and the
last 3 months of the fiscal year.

Mr. Swindell went over this year’s proposed budget and said that it’s consistent with the previous year; increased income
by $30,000, with $14k coming from the Incubator, misc. income of $6k and modest changes in other areas. FARDA
reduced expenses by $12k for the year and is budgeting for a $74k surplus. There is a slight bump with expenses and
income of approx $4k due to the Airport Authority’s 2000 sq ft. at the Incubator. FARDA plans to continue their Board of
Directors membership with EDC. Also, FARDA will support this year’s FAU business plan competition for $15,000;
however, they did not put money into the FAU GAP fund. Additionally, FARDA will be supporting NWA for $50k this year
which pays for their administrative support, business plan evaluations, program support, etc. The total budgeted annual
expense for 2010-2011 is $588,000 with expected income of $663,000.

Motion to approve FARDA FY2010– 2011 Budget: Motion by Ms. Maier, seconded by Mr. Moriarty, All in favor, Approved.

TRAC Report:
Mr. Prentice informed the board that he will be reaching out to several parties within the University to schedule a
meeting to discuss how they can improve the collaboration between the FAU and the Research Park.

EDC update:
Mrs. Jane Teague gave the group an update on EDC and the Institute of Commercialization of Public Research and went
on to explain that the Institute currently has 200 technologies in inventory between the 11 state universities. She added
that the legislature recently passed a $3M bill to provide state-matching funds for the Federal SPIR/STTR grants and that
the EDC is responsible for administering the grant program. The RFA is in place and EDC will be starting to grant/fund
money to these companies as soon as the contracts are signed. Additionally, she added that EDC is gearing up for their
                                                                                                             Page 2 of 3
13 Annual Emerging Technology Business Showcase and said that they will be hosting the GrowFL event within the
conference during the afternoon. She also announced that this year’s life Science Conference will be held at FAU during
the spring but has not nailed down a date. Finally, EDC had 2 new board members join in the recent months: Patricia
Palmer of Littlebanc and Barbara Burke of Regions Bank.

Developer/Broker Report:
Mr. Albert Livingston and Ms. Dyana Kenney gave the group an update on the status of the Research Parks and said they
are working with the Deerfield Economic Coordinator, City Manager and the Greater Ft. Lauderdale Broward Alliance to
develop a concept to make the Deerfield Research Park successful. Additionally, Mr. Livingston has taken the initiative to
market the park to the university and is working to change any misperceptions and create proper insight to those faculty
and staff members who aren’t aware of the Research Park. Mr. Livingston suggested developing a series monthly
program that will bring the university and park tenants together.

Old Business:
There was no old business to discuss at this meeting.

New Business:
There was no new business to discuss at this meeting.

The meeting was adjourned at 9:30AM

                                                                                                            Page 3 of 3