Committee Minutes

Minutes of Grand Forks City Council/Growth Fund
Authority (JDA) - Monday, October 22, 2007 - 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, October 22, 2007 at the hour of 5:30 p.m. with Chairman Gershman presiding. Present at roll call were Council Members Brooks, McNamara, Glassheim, Christensen, Bakken, Kreun, Gershman - 7; absent: Mayor Brown - 1.

HOLD PUBLIC HEARING REGARDING NORTHWOOD
MICRO-LOAN FUND MATCH REQUEST

The staff report from the urban development director relating to public hearing regarding Northwood Micro-loan Fund Match request, with recommendation to hold a public hearing and approve the request.

President Gershman opened the public hearing, no comments and the hearing was closed.

Council Member Christensen reported that the City of Northwood is participating in a micro-loan fund which is being sponsored by the Lake Agassiz Regional Development Corporation headquartered in Fargo and they are putting together a $100,000 for loans for the people in Northwood to borrow, and that we have been asked to contribute $15,000 and committee recommended approval. He moved approval of the recommendation that we contribute $15,000 to the fund. Council Member Glassheim seconded the motion. Upon call for the question and upon voice vote, the motion carried 7 votes affirmative.

APPROVE RESOLUTION FOR CERTIFICATION
OF REVOLVING LOAN FUND PLAN AND ANNUAL
REPORTS

The staff report from the urban development director relating to Economic Development Administration Revolving Loan Fund (EDA RLF) Annual Report, with recommendation to adopt the resolution for annual certification of the RLF Plan and annual reports.

It was moved by Council Member Bakken and seconded by Council Member Christensen that this recommendation be approved. Carried 7 votes affirmative.

ADJOURN

It was moved by Council Member Glassheim and seconded by Council Member Kreun that we adjourn. Carried 7 votes affirmative.

Respectfully submitted,



John M. Schmisek
City Auditor