Mike Reid is Managing Director and a Senior Portfolio Manager for Exchange Capital Management, Inc., a company he founded in 1989. He previously chaired the Ann Arbor / Ypsilanti Local Development Finance Authority, the governing body that administers public funding for the Ann Arbor / Ypsilanti SmartZone, but resigned that position to protest the lax financial management he saw there.
Reid previously served two terms on the Ann Arbor City Council, as a 2nd Ward representative. Elected in 2001 and 2003, and declining to run in 2005, he was the lone and last Republican on that Council when he stepped down. While on Council, he leveraged his financial background on that body's Finance Committee and Labor Negotiations Committee, among others.
In the news
- LDFA board member resigns in protest of accounting practices at Ann Arbor Spark, Ann Arbor News, October 2008
Mike Reid said he was resigning as treasurer of the Ann Arbor/Ypsilanti SmartZone Local Development Finance Authority in protest over what he sees as the board's failure to hold Spark responsible for "pervasive contractual deficiencies" in its record-keeping and use of funds. The problems were cited in a recent audit.