Committee Minutes

MINUTES/GROWTH FUND AUTHORITY (JDA)
Monday, October 11, 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, October 11, 2004 at the hour of 7:00 p.m. with Chairman Gershman presiding. Present at roll call were Council Members Brooks, Hamerlik, Glassheim, Christensen, Kerian, Kreun, Brown, Gershman - 8; absent: none.

AMEND MOTION FOR LOAN TO AMERICAN
DEFENSE INDUSTRIES, INC.

The staff report from the Urban Development director relating to American Defense Industries, Inc. - amended motion, with recommendation to approve amended lending rate for loan to American Defense Industries, Inc. to 4% fixed.

It was moved by Council Member Christensen and seconded by Mayor Brown to amend the motion approving the $25,000 loan to Pribula Estates to be at a fixed 4% interest rate instead of an interest rate adjusted annually to prime, with the other approved terms (7 year amortization, 3 year balloon) remaining the same and to return this to the JDA for approval. Carried 8 votes affirmative.

HOLD GROWTH FUND APPLICATION FOR ACRYLON
COMPOSITES, INC.

This matter was held by the committee.

APPROVE LEASE FOR FIRE/POLICE TRAINING
FACILITY

The staff report from the Urban Development director relating to lease of Industrial Park land for fire/police training facility, with recommendation to authorize the lease of the property located at 1220 South 52nd Street (Lot 1, Block 2, Maier's 4th Resubdivision) to the City of Grand Forks.

Council Member Christensen stated that as leasing the property to ourselves he has no problem with the five-year lease, and that they are putting down a crushed surface, that the day may come when have to rethink the utilization of that area for future expansion of the Industrial Park.

Council Member Brooks suggested to the chiefs of the fire and police departments that when this is set up to see if it is possible that this be available and to be able to work something in with regional communities in their fire and police departments. Chairman Gershman stated that is the intent to do that.

It was moved by Mayor Brown and seconded by Council Member Kerian that this recommenda-tion be approved. Carried 8 votes affirmative.

ADJOURN

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

Respectfully submitted,



John M. Schmisek
City Auditor