1 00:00:04,400 --> 00:00:10,920 We're going to call the EDA of November 20, 2023 to order and we'll have the clerk take the roll. 2 00:00:10,940 --> 00:00:19,120 Commissioner is foaming, Larson, Ms. Olia, Newlin, Robertson, yep, Sorya, President Sanders. 3 00:00:19,520 --> 00:00:27,520 Here, all right, it's just you all took a look at the minutes and all except a motion on approval of the October 16, 2023 minutes. 4 00:00:27,520 --> 00:00:32,940 We'll move by council member, Newlin, second by council member Robertson. Any questions or discussion to those? 5 00:00:33,900 --> 00:00:39,400 Seeing and hearing none, all those in favor of the minutes of October 16th, 2023, please say aye. 6 00:00:39,460 --> 00:00:39,940 Aye. 7 00:00:40,160 --> 00:00:40,520 Opposed. 8 00:00:40,940 --> 00:00:41,460 Motion prevails. 9 00:00:43,920 --> 00:00:44,460 New business. 10 00:00:45,420 --> 00:00:46,280 4.1. 11 00:00:46,480 --> 00:00:47,740 We'll go to Director Thorvig. 12 00:00:48,500 --> 00:00:50,060 Thank you, President Sanders and Board members. 13 00:00:50,280 --> 00:00:55,360 This is an agreement extending and existing MOU that we have with the Noka County Economic Development. 14 00:00:56,260 --> 00:01:00,500 I trust that you've read your packets, so I won't give you a lot of detail, but 15 00:01:00,500 --> 00:01:07,500 Economic development efforts at the colony started in about 2017 and there was a committee that was formed and a study that was completed and 16 00:01:08,040 --> 00:01:14,840 Shortly thereafter in 2019 and MOU was executed by all the cities in the Noka County to advance economic development efforts 17 00:01:15,680 --> 00:01:24,300 Countywide and that does expire in 2024 and they're requesting an additional year on that MOU and within that additional year 18 00:01:24,300 --> 00:01:29,340 the hope is is that we would refresh and update the ideas and goals and everything that 19 00:01:29,340 --> 00:01:35,400 we put together almost six years ago now. And continue the advancement of I don't 20 00:01:35,400 --> 00:01:41,520 click on economic development. I will say that it was something that the county needed to do 21 00:01:41,520 --> 00:01:46,040 if you look at what other counties are doing, the effort that we partook in and I was a key 22 00:01:46,040 --> 00:01:53,560 part of that in 2017 to get this put together. And a lot of their efforts are on marketing which 23 00:01:53,560 --> 00:01:57,820 extremely important. I think we're all familiar with the challenges that we have as a North 24 00:01:57,820 --> 00:02:04,940 Metro and any marketing efforts that can occur. We'll help us and try to attract things that we 25 00:02:04,940 --> 00:02:09,780 may be losing to other parts of the metropolitan area. So that's a key factor that the 26 00:02:09,780 --> 00:02:15,440 county does provide through this initiative among other things. So the MOU extends that through 27 00:02:16,160 --> 00:02:20,020 2025 and with that President Sanders, I'll put it up for any questions. Thank you, Director 28 00:02:20,020 --> 00:02:22,140 your Thorvic Commissioner's emotion, please? 29 00:02:22,640 --> 00:02:23,000 Move it. 30 00:02:23,180 --> 00:02:23,920 Move back, Commissioner. 31 00:02:23,940 --> 00:02:27,080 New and second by Commissioner, Missile, any questions for the director? 32 00:02:28,880 --> 00:02:31,560 Seeing and hearing none, all those in favor of that motion, please say aye. 33 00:02:31,600 --> 00:02:32,040 Aye. 34 00:02:32,280 --> 00:02:32,720 Opposed? 35 00:02:33,020 --> 00:02:33,800 Motion prevails. 36 00:02:34,740 --> 00:02:37,860 Next up is 4.2 director or no. 37 00:02:37,920 --> 00:02:38,920 We'll go to Finance Director. 38 00:02:39,080 --> 00:02:40,140 Director Zimmerman, welcome. 39 00:02:40,680 --> 00:02:41,840 Is this your first EDA meeting? 40 00:02:42,800 --> 00:02:43,240 President. 41 00:02:43,380 --> 00:02:44,240 I believe it's my second. 42 00:02:44,860 --> 00:02:45,620 Well, welcome. 43 00:02:45,900 --> 00:02:46,340 Thank you. 44 00:02:46,400 --> 00:02:47,440 Make this one more memorable. 45 00:02:47,900 --> 00:02:48,400 I'm just kidding. 46 00:02:48,400 --> 00:02:55,800 do my best. President and commissioners, the resolution before you this evening for your consideration 47 00:02:55,800 --> 00:03:00,300 is an inner-fund loan between the blame economic development authority in the city of 48 00:03:00,300 --> 00:03:07,720 Blaine. On November 6, the Blaine City Council approved essentially phase 1 of a project 49 00:03:07,720 --> 00:03:13,980 around the National Sports Center to provide $500,000 of funding for engineering and preliminary 50 00:03:13,980 --> 00:03:20,600 excavation work for the installation of multiple turf fields. As the project 51 00:03:20,600 --> 00:03:25,760 directly benefits the the EDA, the the resolution effectively operates as 52 00:03:25,760 --> 00:03:32,320 a temporary loan to provide funding to the city as the city continues to 53 00:03:32,320 --> 00:03:36,420 contemplate additional funding for the project of the installation of the turf 54 00:03:36,420 --> 00:03:43,660 field. So pertinent details regarding the inner fund loan include loan amount up to 55 00:03:43,660 --> 00:03:50,620 $500,000, the loan is to be issued at a 0% interest rate, the loan automatically terminates 56 00:03:50,620 --> 00:03:58,760 if the city issues funding for phase two of the turf field project, and if the city fails 57 00:03:58,760 --> 00:04:06,560 to issue bonding for phase two of the project by December 31st, 2024, the Interfund loan terminates 58 00:04:06,560 --> 00:04:13,040 and a transfer is then authorized between the city of or between the EDA and the city. 59 00:04:14,480 --> 00:04:16,360 With that, I will stand for any questions. 60 00:04:17,160 --> 00:04:18,180 Thank you, Director Zimmerman. 61 00:04:18,620 --> 00:04:19,840 Our commissioner is a motion please. 62 00:04:20,860 --> 00:04:24,340 Move by commissioner Roberts and second by commissioner Newland. 63 00:04:25,100 --> 00:04:26,480 Any other questions or discussion? 64 00:04:28,260 --> 00:04:30,740 Seeing and hearing none, all those in favor of that motion, please say aye. 65 00:04:30,760 --> 00:04:31,280 Aye. 66 00:04:31,640 --> 00:04:32,040 Opposed? 67 00:04:32,480 --> 00:04:33,440 Motion prevails. 68 00:04:34,420 --> 00:04:38,460 Director Thorvig and the other business for the EDA. 69 00:04:39,080 --> 00:04:46,500 All right, seeing none, I'll entertain a motion to adjourn and we'll go back into closed session in Clover Leaf. 70 00:04:47,600 --> 00:04:48,640 So moved and seconded. 71 00:04:48,660 --> 00:04:50,660 All those in favor of adjourment, please say aye. 72 00:04:51,060 --> 00:04:51,540 Opposed. 73 00:04:51,860 --> 00:04:52,520 Motion prevails.