MAGIC Fund Screening Committee

MAGIC Fund March 23, 2012 Page 1 ROLL CALL Members Present: Hight, Bartsch, Johnson, Mattson, Melgaard, and Mowan Members Absent: Ness Others Present: City Manager, David Waind; Alderman Hatlelid; Alderman Jantzer; Airport Operations Manager, JD Karhoff; MADC Vice President, Stephanie Hoffart; MADC Minot Sash & Door Myron Feist & Mike Feist, and City Clerk Katy Solar 1. APPROVAL OF MINUTES Mowan moved the minutes of the August 19, 2011 meeting be approved as submitted. Motion seconded by Johnson and carried unanimously. 2. MADC – Minot Sash & Door - $75,500 – Grant Myron Feist, Minot Sash & Door, explained to the committee the $75,500 grant would extend the water line across Highway 2 at the corner of 72nd Street to the south, at which point Minot Sash & Door would extend the water line to their facility for fire protection. Mike Feist, Minot Sash & Door, informed the company has already made modifications for an expansion. Minot Sash & Door has followed through with air quality control improvements, connected to city sewer and rewired and updated its hardwood machine area for new equipment. He explained a fire suppression system is crucial for the expansion. He advised if Minot Sash & Door can tap into an extended water line across Highway 2 this would give them the opportunity to re-establish the portion of the plant that does the fabrication of millwork. Mike Feist informed the company has been outsourcing that portion of the business at a premium cost and the establishment of the hardwood millwork division is crucial for it to be a complete architectural woodwork operation and be competitive. Melgaard moved the following be forwarded to the City Council for their consideration. That the City Council approve a $75,500 grant for Minot Sash & Door to extend the water line to their facility for fire protection. The above motion was seconded by Mattson and passed by the following roll call vote: ayes: Bartsch, Hight, Johnson, Mowan. nays: none. MAGIC Fund March 23, 2012 Page 2 3. Minot International Airport Lot Development – $580,940 – Grant Airport Chairman, Jim Hatlelid, explains the Minot Aero Center would like an opportunity to expand their business through the construction of a large aircraft hangar which Minot Aero Center would pay for. He explained that Minot International Airport owns the property considered for development, the land must be prepared to allow the construction of this building. The lot preparation for the size of the proposed hangar structure is significant in scope but must be accommodated to allow for the lot to become build ready. Since airport land is forever owned and leased, this lot should be prepared for future development under the Minot International Airport to help enhance economic activity and allow additional services to those customers coming to Minot. Johnson moved the following be forwarded to the City Council for their consideration. That the City Council approve a $580,940 grant for Minot Aero Center for infrastructure improvements required for the construction of a large aircraft hangar The above motion was seconded by Mowan and passed by the following roll call vote: ayes: Bartsch, Hight, Johnson, Mowan. nays: none. 4. FINANCIAL REPORT Sue Greenheck, Comptroller, reported the MAGIC fund as of February has a total of approximately $10.7 million of which about $1.6 million is committed. Sales tax collections are 37.57 % higher than they were in the prior year at the end of February. 5. OTHER BUSINESS None. 6. ADJOURNMENT There being no further business, Melgaard moved to adjourn the MAGIC Fund Steering Committee meeting motion seconded by Johnson and carried unanimously. Respectfully submitted, Jay Hight Chairman