According to Tom Crawford at city hall, 100% of the LDFA money to SPARK (about $1.5 million) is for local companies. If so, then why does the audited financial statement say this: ”$275,000 is available for companies location in the City of Ann Arbor via funding from the Ann Arbor/Ypsilanti Local Development Financing Authority (LDFA)”"? Where does the other $1.2 million go?Anyway, I predict we'll be hearing a bit more about this in the future.
Tuesday, November 12, 2013
Ross School Professor and prolific local storm time-lapse videographer, Kai Petainen has an article in Forbs about the difficulty in obtaining records for SPARK. The local not-for-profit is a business incubator that receives some of its funds from the city. Kai's article makes the finances and doings of SPARK seem just a little shadier than they ought to be. Ed Vielmetti has a good summary on his blog. Here I'm quoting his quote of Kai's Forbes article:
Posted by Ben Connor Barrie at 8:30 AM