Committee Minutes

Minutes of Grand Forks City Council/Growth Fund
Authority (JDA) - Monday, March 22 , 2010 - 5:30 p.m.____

The city council of the city of Grand Forks sitting as the Growth Fund Authority met in the council chambers in City Hall on Monday, March 22, 2010 at the hour of 5:30 p.m. with Chairman Gershman presiding. Present at roll call were Council Members Bjerke (teleconference), Glassheim, Gershman, Kreun, Mayor Brown - 5; absent: Council Members McNamara, Christensen, Bakken - 3.

APPROVE MODIFICATION OF PACE LOAN AGREEMENT
WITH OAKWOOD ASSOCIATES, LLP

The staff report from the urban development director relating to modification of PACE Loan Agreement with Oakwood Associates, LLP, with recommendation from the Growth Fund Committee that the JDA concur with the request to suspend the PACE job creation requirements on this loan through December 31, 2010.

It was moved by Council Member Glassheim and seconded by Mayor Brown that the recom-mendation be approved. Carried 5 votes affirmative.

ADJOURN

It was moved by Council Member Kreun and seconded by Mayor Brown that we adjourn. Carried 5 votes affirmative.

Respectfully submitted,



Saroj Jerath
City Auditor