Print VersionStay Informed
MINUTES/GROWTH FUND AUTHORITY (JDA)
Monday, August 1, 2005 - 7:00 p.m.______________

The city council of the City of Grand Forks sitting as the JDA (Growth Fund Authority) met in the council chambers in City Hall on Monday, August 1, 2005 at the hour of 7:00 p.m. with Vice Chair Brooks presiding. Present at roll call were Council Members Hamerlik, Glassheim, Gershman (teleconference), Christensen, Kerian, Kreun, Mayor Brown, Brooks - 8; absent: none.

AWARD BIDS FOR CIRRUS EXPANSION PROJECT

The staff report from Urban Development relating to the Cirrus expansion project bids, with award to low bidders.

Keith Lund, Urban Development, reported that bids were opened on July 28 without irregularity and tabulation of bids was placed on council members desks and are requesting authorization to award the bid for Mechanical to C. L. Linfoot in the amount of $2,677,839, to award the bid for Electrical to RBB Electric, Inc. in the amount of $511,000, and to award Alternates E3, E4 and E5 to RBB Electric, Inc. in the amount of $61,924, and approved the combined award Mechanical, Electrical and Alternates as $3,250.763, which is less than the architect's base bid estimate.

It was moved by Council Member Christensen and seconded by Council Member Kerian to approve the award of bids as recommended. Carried 8 votes affirmative.

APPROVE FINANCING PACKAGE FOR CIRRUS
EXPANSION PROJECT

The staff report from Urban Development relating to Cirrus Expansion project JDA Bank of North Dakota PACE and MATCH loan financing, with recommendation to approve the recommendation of the Growth Fund Committee to award Bremer Bank the financing of the Bank of North Dakota PACE and MATCH loans for the Cirrus Expansion Project and to accept the committee's recommendation of Option 2 (10-year fixed rate) of the Bremer proposal for the PACE loans.

Mr. Lund stated as part of the Cirrus financing the Growth Fund approved a direct loan from the Bank of North Dakota and the North Dakota Development Fund through a local lender, Bremer Bank, and are requesting authorization to enter into the loans summarizing the report with Bremer Bank.

It was moved by Council Member Kreun and seconded by Mayor Brown that this recommendation be approved, Carried 8 votes affirmative.

ADJOURN

It was moved by Council Member Hamerlik and seconded by Mayor Brown that we adjourn. Carried 8 votes affirmative.

Respectfully submitted,

John M. Schmisek, City Auditor