Committee Minutes

MINUTES/GROWITH FUND AUTHORITY (JDA)
Monday, June 7, 2004 - 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, June 7, 2004 at the hour of 7:00 p.m. with Vice Chair Brooks presiding. Present at roll call were Council Members Hamerlik (teleconference), Glassheim, Christensen, Kerian, Kreun, Mayor Brown, Brooks - 7; absent: Council Member Gershman - 1.

APPROVE LEASE AGREEMENT AND LAND
PURCHASE OPTION CONTRACT WITH
LM GLASFIBER

The staff report from the Urban Development director relating to LM Glasfiber lease agreement and land purchase option contract, with recommendation for approval of the lease agreement and land purchase option contract.

It was moved by Council Member Kerian and seconded by Mayor Brown that this recommendation be approved.

Keith Lund, Urban Development, reported that LM Glasfiber rented a building in the Industrial Park at 1580 South 48th Street from the Growth Fund in 1999 and initially signed a five-year lease that is expiring this week, that they have completed negotiations with the tenant and recommending approval of the new five-year lease. He stated they will outgrow their existing facility during the term of this lease; that there are two parcels of land to the west of the facility that the Growth Fund had previously entered into an exclusive option with LM Glasfiber for the purchase of those two parcels for $217,700.00 and are requesting an extension of that agreement to run concurrent with the lease for five years.

Council Member Glassheim questioned the number of jobs and range of the wages. Jim Melland, Economic Development Corporation, reported they are currently employing 80 full-time people and another 40 part-time people and are in the process of hiring additional people for both capacities - they are running two shifts, full-time day shift and part-time evening shift; that the company is experiencing some strong orders and in terms of pay range, they start their people in the highest in the starting salaries and over time and experience in the shop would earn approx. $14-15/hour (plus benefits).

Upon call for the question and upon voice vote, the motion carried 7 votes affirmative.

ADJOURN

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

Respectfully submitted,



Saroj Jerath
Deputy City Auditor