Committee Minutes

Minutes of Grand Forks City Council/Growth Fund
Authority (JDA) - Monday, December 7, 2009 - 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, September 28, 2009 at the hour of 5:30 p.m. with Chairman Gershman presiding. Present at roll call were Council Members Bjerke, Glassheim, Bakken, Kreun, Gershman, Mayor Brown - 6; absent: Council Member McNamara - 1.

Students from St. Michael's School led the council in the pledge of allegiance to the flag, Stephanie Schuster, principal.

Council Member Christensen reported present.

CIRRUS UPDATE

Rick Duquette stated that tonight representatives from Cirrus Aircraft Corporation would be giving the council an update, that the aviation industry served by Cirrus went into a downturn in 2007 and the ensuing recession and the global markets in 2008 made that situation worse and created dramatic impacts on the sales of aircraft with the Cirrus Aircraft Corporation; and that Cirrus has not been able to meet their obligations to the City of Grand Forks during this last year. Mr. Brent Wouters, president and CEO of Cirrus Aircraft Corporation and Mr. Bill King, Vice President of Business Administration, are with us this evening. The objective of tonight's meeting is to hear Cirrus' future business plans and their plan for meeting their financial obligations with the City. He provided council with a brief overview of Cirrus' history in Grand Forks and some contacts of the aviation market based upon an independent analysis that we had done related to the general aviation markets and that was also included in your packets.

This business has been the work of a lot of partners including Cirrus Aircraft Corporation, City of Grand Forks, North Dakota Development Foundation, ND Department of Commerce, and that we have our partners in the audience. He stated our objective tonight is to give Cirrus Aircraft Corporation an opportunity to discuss their business plan, their recovery plan and their efforts to meet the financial obligations with the City of Grand Forks. At a time like this information and communication is critical, Cirrus Aircraft Corporation is here to brief the JDA and City of Grand Forks where they are going and appreciate their doing that and taking the time .

Mr. Wouters stated he hoped to leave you with three key things - demand in their industry, response to change in demand, and the long term vigor of the business and that those things leave you with a better understanding of why they think it makes sense to partner with Cirrus and continue the partnership with the City of Grand Forks and all the other partners.

Council Member Bakken stated this is the best interest of the city to work with you as long as the plan is brought forward is sensible and reasonable, and support it going forward.

ADJOURN

It was moved by Mayor Brown and seconded by Council Member Bakken to adjourn. Carried 6 votes affirmative.

Respectfully submitted,



Saroj Jerath
City Auditor