Committee Minutes

MINUTES/GROWTH FUND AUTHORITY (JDA)
January 3, 2000 - 7:15 p.m._______---------______________

The city council of the city of Grand Forks sitting as the Growth Fund Authority met at the council chambers at City Hall on Monday, January 3, 2000 at the hour of 7:15 p.m. with chairman Carpenter presiding. Present at roll call were Council Members Brooks, Polovitz, Hamerlik, Bouley, Glassheim, Carpenter, Beyer, Babinchak, Bakken, Hafner, Owens - 11; absent: Council Members Lucke, Lunak, Klave, Martinson - 4.

HOLD PUBLIC HEARING ON APPLICATION
FOR NEW VISION FIBERGLASS, INC.

Chairman Carpenter called for the public hearing on the application by New Vision Fiberglass, Inc. There were no comments and the public hearing was closed.

The city auditor read the recommendation from the subcommittee for approval of a revised starting point for job creation of May 12, 1998 at zero employees and to allow New Vision to retain the two PACE interest subsidies previously approved. It was moved by Council Member Babinchak and seconded by Council Member Polovitz that this recommendation be and is hereby approved.

It was noted that they have 14 current employees and they would be in compliance with the job creation requirement of the PACE application. Terry Hanson, Urban Development, stated that the Bank of North Dakota was going to give them a year’s time and review it at that time.

Upon call for the question and upon voice vote, the motion carried 11 votes affirmative.

HOLD PUBLIC HEARING ON APPLICATION FROM
HILLSBORO ECONOMIC DEVELOPMENT
CORPORATION

Chairman Carpenter called for the public hearing on the matter of the application from Hillsboro Economic Development Corporation.

Don Hanson, chairman of the Hillsboro Economic Development, asked for support in this project. There were no additional comments and public hearing was closed.

The city auditor read the recommendation from the subcommittee - to waive the full application and approve assistance in the amount in the amount of $13,000 at 8%, with a balloon payment at the end of the five-year term

It was moved by Council Member Babinchak and seconded by Council Member Polovitz that this recommendation be and is hereby approved. Upon roll call the following voted “aye”: Council Members Brooks, Polovitz, Hamerlik, Bouley, Glassheim, Carpenter, Beyer, Babinchak, Bakken, Hafner, and Mayor Owens - 11; voting “nay”: none. Chairman Carpenter declared the motion carried.

ADJOURN

It was moved by Council Member Hafner and seconded by Council Member Bakken that we do now adjourn. Carried 11 votes affirmative.

Respectfully submitted,



John M. Schmisek
City Auditor