MADE AND SECONDED FOR THE APPROVAL OF MINUTES FROM OUR LAST MEETING. SO I'LL JUST CALL FOR THE VOTE AGAIN. ALL IN FAVOR PLEASE SIGNIFY BY SAYING I. I OPPOSED.
MOTION CARRIES FOUR WITH ONE ABSTENTION FOUR ZERO WITH ONE ABSTENTION. OKAY. WE THEN GO TO PAGE OR HOW WE
DO WANT TO TALK ABOUT THE BOND COUNCIL WHICH I GRANT PRESIDENT ERICKSON AND COMMISSIONERS WE WILL ACTUALLY BE HAVING THE CITY CFO LAURA ECONOMY SCHULER PRESENT THIS ITEM.
OKAY WELL WELCOME LORI. HELLO HOW ARE YOU THIS EVENING FOR 2.1 WE HAVE APPROVAL OF AGREEMENTS AND APPOINTMENT OF BOND COUNCIL TERMINATION OF INTERIM COUNCIL AGREEMENT
AND THEN AGAIN KIND OF OFFICIALLY APPOINT IN CUBIC ROCK AS THE OFFICIAL BOND ATTORNEY FOR THE PORT AUTHORITY. RIGHT. WELL, OF COURSE THIS WHOLE THING IS A RESULT BECAUSE A
LOT OF FORMER PEOPLE MOVED TO HUDAK ROCK AND THEY'VE BEEN OUR COUNCIL FOR ALL THESE YEARS. SO AT ANY RATE. WELL I WOULD WELL WELCOME COMMISSIONER PETERSON TOO.
I WOULD YOUR MOTION IS ON PAGE SIX TO DO THIS APPROVAL. >> THANK YOU. WE HAVE A MOTION MADE BY COMMISSIONER HUNT. DO WE HAVE A SECOND SECOND BY
COMMISSIONER KELLER? ANY ADDITIONAL COMMENTS? NOT ALL IN FAVOR PLEASE SIGNIFY BY SAYING I OPPOSED MOTION CARRIES SIX ZERO.
THANK YOU. OKAY. THE NEXT ONE THAT IS IS OUR EXTERNAL AUDITORS REPORT. WELCOME WELCOME BACK. THANK YOU.
>> GOOD EVENING. MY NAME IS ANDY HEARING FROM REDPATH AND COMPANY, THE CPA FIRM YOU HIRED TO CONDUCT YOUR 2024 FINANCIAL AUDIT. SO I'M HERE TO PRESENT THE
RESULTS OF THAT AUDIT. SO JUST GOT A SLIDE SHOW HERE I BELIEVE THAT IN A PACKET BUT I'LL JUST PLEASE NOTE FOR THE
RECORD WE HAVE COMMISSIONER NELSON SO WE HAVE THE FULL SLATE. ALL RIGHT. MADE IT JUST IN TIME FOR THE AUDIT PRESENTATION. THAT'S RIGHT.
YEAH EXACTLY. SO AS PART OF THE AUDIT WE ISSUED FIVE REPORTS A REPORT AND OPINION ON THE FINANCIAL STATEMENTS, A REPORT, AN INTERNAL CONTROL REPORT AND
LEGAL COMPLIANCE, A REPORT ON FEDERAL COMPLIANCE WHICH I'LL EXPLAIN THE APPLICABILITY OF THAT IN A FEW MINUTES HERE AND THEN A COMMUNICATION LETTER TO THOSE CHARGED WITH
GOVERNANCE AND AS A REMINDER AS WE CONDUCT THE AUDIT WE ARE WE'RE AUDITING THE CITY, THE PORT AUTHORITY AND THE ACTUARY ALL TOGETHER THE STATEMENTS
OF THOSE THREE ENTITIES ARE ALL COMBINED INTO ONE DOCUMENT AND SO THAT'S WHAT WE'RE PERFORMING THAT AUDIT TOGETHER. BUT THERE'S CLEARLY DISTINCT
PARTS OF THAT FINANCIAL DOCUMENT. SO I'M COMMENTING ON THE PORT AUTHORITY THIS EVENING.
SO THE RESULTS IT'S A WE ISSUED AN UNMODIFIED OPINION OR A CLEAN OPINION ON THE FINANCIAL STATEMENTS. THE HIGHEST LEVEL OF OPINION THE PORT AUTHORITY CAN RECEIVE .
THERE WERE NO INTERNAL CONTROL FINDINGS AND NO LEGAL COMPLIANCE FINDINGS AND FOR FINDINGS RELATED TO COMPLIANCE WITH FEDERAL COMPLIANCE STANDARDS AND THEN WITH THE
GOVERNANCE LETTER JUST A STANDARD COMMUNICATIONS IN THAT LETTER THE CITY PORT AUTHORITY AND HRA EACH YEAR THEY SUBMIT THE ANNUAL
FINANCIAL REPORT TO THE GOVERNMENT FINANCE OFFICERS ASSOCIATION. THAT REPORT THEN IS GRADED ON ON A NATIONAL LEVEL TO MAKE SURE THE QUICKER THERE ARE
THAT MAKES SENSE. THANK YOU. THEIR REPORT IS GRADED TO MAKE SURE THE FINANCIAL STATEMENTS
ARE PRESENTED FAIRLY AND TRANSPARENTLY IN ACCORDANCE WITH ACCOUNTING STANDARDS AND THE CITY. A PORT AUTHORITY RECEIVED THE CERTIFICATE OF ACHIEVEMENT
IN EXCELLENCE FOR FINANCIAL REPORTING FOR THE 53RD CONSECUTIVE YEAR SO SHOULD SOMETHING TO BE VERY PROUD OF NOW PERTAINS TO THE 2023 FINANCIAL STATEMENTS THE 24
FINANCIAL STATEMENTS WILL BE SUBMITTED TO THAT PROGRAM ONCE AGAIN AND I EXPECT THE AWARD TO BE AWARDED AGAIN.
SO FIRST THE OPINION ON THE FIRST FINANCIAL STATEMENTS WHAT DO WE DO? WE DETERMINE THAT THE FINANCIAL STATEMENTS ARE FAIRLY PRESENTED IN ALL MATERIAL RESPECTS.
THAT'S ACCOUNTING LINGO THAT THERE ARE NO MATERIAL MISSTATEMENTS IN THE FINANCIAL STATEMENTS OR MISSTATEMENTS THAT WOULD AFFECT THE DECISIONS OF THE FINANCIAL STATEMENT USER. WE'RE NOT AUDITING TO THE
NEAREST DOLLAR. WE DON'T AUDIT EVERY SINGLE TRANSACTION BUT WE'RE AUDITING IN A WAY THAT TO DETECT ANY MATERIAL MISSTATEMENTS. SO HANDING OVER THE MATERIAL
TAB FOR THE CITY OF BLOOMINGTON HOW MANY MILLION THE IT VARIES DEPENDING ON WHAT I'M LOOKING AT WHETHER IT'S THE CITY OR
THE AREA, THE PORT I THINK THE HRA OR THE 3 MILLION STICKS IN MY MIND BUT IT VARIES ALSO DEPENDING ON WHAT TYPE
OF POTENTIAL MISSTATEMENT WOULD BE DISCOVERED A $3 MILLION MISSTATEMENT TO CAPITAL ASSETS FIXED ASSETS IS
A LOT LESS SENSITIVE THAN A $3 MILLION MISSTATEMENT TO CASH. THAT'S BECAUSE OF THE AMOUNT OF CASH IT'S FAIRLY HIGH BUT YEAH WELL I JUST AND AGAIN
IT'S A FAIRLY HIGH AMOUNT THAT YOU CAN'T DO BUT THANK YOU. SO WE AUDIT LOOK IN TO MAKE SURE EVERYTHING IN THE
FINANCIAL STATEMENT IS ACCURATE THAT THE AMOUNTS IN THE ACT IN THE FINANCIAL STATEMENTS THAT THEY HAVE OCCURRED. WE'RE ALSO LOOKING TO MAKE SURE EVERYTHING IS INCLUDED IN THE FINANCIAL STATEMENTS
THAT SHOULD BE THAT'S THE OCCURRENCE AND COMPLETENESS AND THEN THEY ARE MAKING SURE THE AMOUNTS ARE ACCURATE AND PRESENTED IN THEIR RATE ACCOUNTS AND THEN THE RATE
FUNDS OF THE PORT. AGAIN A VARIETY OF AUDITING TECHNIQUES FROM ANALYTICS TO SAMPLING TO INQUIRY OF STAFF. WE AS WE WORK THROUGH THE
AUDIT. SO ONCE AGAIN A CLEAN OPINION WAS AWARDED AND THE FINANCIAL STATEMENTS AND THEN JUST A
STEP BACK AND A FEW RISKS WE IDENTIFY AND DESIGN OUR PROCEDURES FOR RISKS THAT MAYBE INTERNAL CONTROLS COULD BE OVERRIDDEN BY MANAGEMENT.
JOURNAL ENTRIES ARE AN EXAMPLE OF HOW THAT COULD OCCUR. SOMEBODY MAKING AN ENTRY OR AN ADJUSTMENT TO ITEMS THAT WERE ALREADY POSTED AND POSSIBLY
PUSHING THROUGH THAT ADJUSTMENT WITHOUT PROPER APPROVAL. SO WE'RE LOOKING FOR PROPER APPROVAL AND JOURNAL ENTRIES, CASH DISBURSEMENTS OR ANY ANY
FORM OF DISBURSEMENTS IS REALLY A SIGNIFICANT RISK TO ALL GOVERNMENTAL ENTITIES. SO WE'RE LOOKING TO MAKE SURE THAT THE DISBURSEMENTS ARE AUTHORIZED, THAT THERE'S NO
DUPLICATE DISBURSEMENTS, THERE'S ALWAYS FRAUDSTERS OUT THERE LOOKING FOR WAYS TO STEAL FROM THE PORT AUTHORITY,
FROM THE CITIZENS MONEY. EXAMPLES ARE IMPERSONATING PORT STAFF CITY STAFF
IMPERSONATED VENDORS. HEY WE WE MOVED WE OPENED A NEW BANK ACCOUNT. HERE'S OUR NEW BANKING INFORMATION, OUR NEW BACON
ROUTING INFORMATION. PLEASE SEND THE MONEY HERE INSTEAD OF THE OLD ONE WHEN THEY THEY'RE JUST IMPERSONATING SOMEBODY IMPERSONATING A VENDOR THAT'S HAPPENED SEVERAL TIMES.
I'M NOT HERE AT BLOOMINGTON BUT OTHER PLACES THAT I'VE HEARD OF. SO THESE ARE THESE TWO RISKS THAT I HAD IDENTIFIED THERE. THOSE ARE NOT SPECIFIC TO
BLOOMINGTON BUT SOMETHING WE'RE LOOKING FOR AS PART OF THE AUDIT AND WE DID NOT NOTE ANY ACTUAL INSTANCES
OF THOSE TYPES OF ACTIVITIES. SO THE NEXT SLIDE HERE IS A REPORT ON INTERNAL CONTROLS THAT HITS ON THE POLICIES AND PROCEDURES OF THE PORT AUTHORITY.
EXAMPLESNCLUDE APPROVAL OVER DISBURSEMENTS, APPROVAL OVER MONTHLY BANK RECONCILIATIONS, AN IDEAL SEGREGATION OF DUTIES, MAKING SURE THAT NO ONE PERSON HAS TOO MUCH
AUTHORITY IN ANY GIVEN AREA. AND THEN ON THE BACK END A REVIEW OF FINANCIAL STATEMENTS TO DETECT POSSIBLE ERRORS.
THE RESULT NO FINDINGS . WE'RE ALSO TESTING FOR COMPLIANCE WITH STATE STATUTES . THE STATE AUDITOR ISSUES A GUIDE THAT CONTAINS SEVEN
SECTIONS OF VARIOUS STATUTES THAT WE'RE TESTING FOR AND WE TEST ON A ON A SAMPLE BASIS FOR COMPLIANCE WITH THOSE STATUTES. A BIGGIE FOR THE PORT IS
COMPLIANCE WITH TAX INCREMENT. THERE'S A LOT OF TAX INCREMENT FINANCING ACTIVITY OF COURSE AT THE PORT AND OTHER DEPOSITORY USES OF PUBLIC
FUNDS AND INVESTMENTS LOOKING FOR ANY CONFLICTS OF INTEREST . AND THERE IS JUST ONE OUTSTANDING BOND ISSUE THERE ARE STATUTES RELATING TO BONDS NO BONDS WERE ISSUED IN 2024
BUT THERE ARE STILL ONGOING COMPLIANCE REQUIREMENTS WITH BONDS SO WE'RE TESTING FOR COMPLIANCE WITH STATE STATUTES AND DID NOT FIND ANY INSTANCES
OF NONCOMPLIANCE. THERE IS ALSO AN AUDIT OF FEDERAL COMPLIANCE AGENTS ANY TIME AN ENTITY EXPANDS MORE THAN $750,000 OF FEDERAL
FUNDS, THERE'S A WHAT'S CALLED A SINGLE AUDIT. AND I KNOW THE PORT DID NOT RECEIVE OR EXPAND ANY FEDERAL FUNDS BUT ON THE CITY AND HRA SIDE THERE WAS AND WE HAD FOUR
FINDINGS THAT WERE REPORTED. SO WHAT I WANT TO MAKE SURE WE YOU'RE LEAST AWARE OF IS THAT THERE WERE THESE FINDINGS WHERE THEY EXIST.
THEY DO NOT PERTAIN TO ANY PORT ACTIVITY BUT THERE'S A THERE'S A REPORT THAT CONTAINS THESE FINDINGS. IT JUST SAYS CITY OF BLOOMINGTON ON IT.
AND I THINK SOMEBODY THAT DIDN'T KNOW BETTER COULD POTENTIALLY EITHER INTENTIONALLY OR UNINTENTIONALLY LINK THE PORT TO THESE FINDINGS.
SO I JUST WANT TO MAKE SURE YOU ARE AWARE THAT THEY OCCURRED BUT THAT THEY DO NOT PERTAIN TO THE PORT. AND THOSE ARE FINDINGS RELATING T THERE WAS ONE
RELATING TO THE AMERICAN RESCUE PLAN ACT DOLLARS TWO RELATED TO CDBG DOLLARS I FOR ONE RELATED TO SECTION $8 OF FAIRLY MINOR IN NATURE.
THERE WERE NO ACTUAL QUESTION COST OR COSTS THAT WERE DOUBTED BUT MORE COMPLIANCE ISSUES WITH THE POLICIES AND PROCEDURES.
SO ANDY, WHEN WHEN YOU'RE DOING AUDITS ARE THESE THE KIND OF THINGS THAT YOU TYPICALLY FIND HAPPENING IN OTHER CITIES THAT'S YOUR REVIEW AND THINGS I MEAN AGAIN IT'S SOME OF THESE THE
COMPLIANCE IS SO DIFFICULT EVERYBODY'S GOING TO PROBABLY MAKE A FEW MISTAKES. YES, IT'S ESPECIALLY WITH THE SINGLE AUDITOR, THE FEDERAL COMPLIANCE THOSE YOU'RE RIGHT
THE COMPLIANCE STANDARDS ARE SO COMPLEX AND DETAILED AND BY DESIGN THESE FEDERAL COMPLIANCE AUDITS ARE VERY METICULOUS.
SO IT'S IT'S COMMON TO FIND FINDINGS RELATED TO FEDERAL COMPLIANCE. YEAH. YEAH. AND THEN THE LAST REPORT WE
ISSUE IS CALLED A COMMUNICATION LETTER WITH THOSE CHARGED WITH GOVERNANCE. IT'S A LETTER OF REQUIRED COMMUNICATIONS FROM THE AUDITOR TO GOVERNANCE OR IN THIS CASE THE PORT COMMISSIONERS.
THERE WAS ONE NEW AUDIT IN STANDARD OR ACCOUNTING STANDARD THAT WAS ADOPTED IN 2024 RELATED TO ACCRUED PTO AND SICK TIME WHICH DOESN'T
DIRECTLY AFFECT THE PORT AUTHORITY ARE A REMINDER THAT THERE ARE A FEW ESTIMATES IN THE FINANCIALS STATEMENTS. THE ONE MOST APPLICABLE TO THE
PORT AUTHORITY IS THE ESTIMATED RESALE VALUE OF LAND AT THE THE OLD THUNDERBIRD HOTEL MOTEL SITE THERE WERE NO
DIFFICULTIES ENCOUNTERED DURING THE AUDIT WORKED WITH MARY KAY AND THE REST OF THE FINANCE TEAM AND EVERYTHING WENT SMOOTHLY SO SHE AND THE OTHER STAFF WERE VERY WELL
PREPARED FOR US. AND LASTLY NO. NO MATERIAL MISSTATEMENTS WERE DETECTED. SO TO YOUR POINT THERE, WE DID
HAVE ONE IMMATERIAL MISSTATEMENT THAT WE FOUND JUST RELATING TO I THINK AS WAS RECORDING SOMETHING
RELATING TO THAT THE CONTRIBUTION FROM THE CITY FOR THE SICK RAMP IN THE CORRECT PERIOD. SO IT'S A FAIRLY MINOR ITEM
THAT IT WAS A 2020 2023 ITEM THAT ENDED UP GETTING REPORTED IN 2024. BUT AGAIN A MINOR ITEM AND
THEN JUST A FINANCIAL SUMMARY THE OVERALL FUND BALANCE OF THE PORT DID INCREASE ABOUT $9.3 MILLION. BUT A REMINDER I THINK I WENT
ON TO FURTHER REMINDER THAT MOST OF THAT FUND BALANCE IS RESTRICTED EITHER AS A SMALLER AMOUNT TO RESTRICTED FOR DEBT SERVICE AND THEN ALL OF THE TAX INCREMENT FINANCING
DISTRICTS HAVE RESTRICTIONS WITH THOSE THAT THE FUNDS DERIVED FROM TAX INCREMENT CAN ONLY BE USED FOR SPECIFIC PURPOSES.
A FEW HIGHLIGHTS THE SOUTH LOOP PORT FUND DID RECEIVE $9 MILLION IN FINANCING FROM THE CITY'S SOUTH LOOP FUND FOR THE SICK PARKING RAMP. ABOUT $4.8 MILLION REMAINS
OUTSTANDING ON THE 2015 TWO FUNDS OUR TAX INCREMENT REVENUE REMAINED STRONG AT 13.1 MILLION ALSO STRONG
INVESTMENT INCOME 6.5 MILLION COMPARED TO 5.9 MILLION THE YEAR BEFORE WITH HIGH INTEREST RATES AND AGAIN OUR FUND BALANCE INCREASED. SO OVERALL THE PORT'S AND
HEALTHY FINANCIAL CONDITION AND NO FINDINGS DIRECTLY RELATED TO THE PORT ACTIVITY. WELL IT SOUNDS LIKE IT'S A
GOOD REPORT. I ALWAYS SAID WHEN I WAS CHIEF IN OUR CHIEF FINANCIAL OFFICER THE UNIVERSITY OF MINNESOTA WAS MY JOB TO BE BORING AND NOT HAVE MY NAME IN THE PAPER .
YEAH AND THE SAME THING WHEN I WAS TREASURER SUPERVISOR IT'S IT'S THIS ACTIVITY IS EXTREMELY IMPORTANT TO DO AND THE ASSURANCE THAT WE GET BUT BUT BORING IN THIS PARTICULAR
CASE IS GOOD. MM HMM. ANY QUESTIONS? COMMENTS COMMISSIONER LANCE? YEAH, I JUST A LITTLE INTRIGUED ON THAT LAND OWNED BY THE CITY AT 17.5 MILLION.
WHERE DOES THAT NUMBER COME FROM AND DOES THAT CHANGE FROM YEAR TO YEAR? DOES IT REFLECT DEPRECIATION OR IT WOULD CHANGE OF COURSE IF THE CITY WANT MORE LAND DURING THAT YEAR BUT IF THEY
DON'T IS THAT NUMBER FOR KEPT FAIRLY FLAT? AND HOW IS IT HOW DOES THE 17.5 MILLION DETERMINED THAT WAS THE ORIGINAL COST AND I
DON'T RECALL IF THAT INCLUDED DEMOLITION COST OR NOT BUT THAT WAS THE ORIGINAL COST AND IT DOES NOT GET INFLATED AS
THE VALUE POTENTIALLY GOES UP. BUT WHAT WE'RE LOOKING FOR IS IT POTENTIALLY HAVE A LOWER VALUE EACH YEAR. SO IF IT HAS A LOWER VALUE IT GETS WRITTEN DOWN BUT NEVER UP
. SO THAT WAS THE ORIGINAL COST. IT JUST PURE CURIOSITY OFF THE TOP OF YOUR HEAD. HOW MANY HOW MANY PARCELS OF LAND IS THAT? CAN YOU REMEMBER?
I DON'T KNOW THAT I'M SORRY EITHER. OTHER QUESTIONS COMMENTS. IF NOT, WE HAVE A PROMOTION
AND PAGE SEVEN WHICH I WOULD ENTERTAIN TO ACCEPT THE REPORT COMMISSION MOVES DO WE HAVE A
SECOND SECOND BY MR.. ANY FURTHER DISCUSSION DOWN ON FAVOR PLEASE SIGNIFY BY SAYING I I OPPOSED MOTION CARRIES SEVEN ZERO. OKAY.
THANK YOU. ALL RIGHT. THANK YOU. ALL RIGHT. THE NEXT ONE I GUESS IS YOU. HOLLY, ARE YOU GOING TO TALK
ABOUT ELEVATE HANNIFIN WE GOT BURR OKAY. PRESIDENT ERICKSON AND COMMISSIONERS IT WILL BE BARB WOLFE AND THEN WE ALSO HAVE OUR COLLEAGUE FROM AND HAVE BEEN COUNTY WITH US AS WELL. WELCOME, BARB.
WELL, THANKS FOR HAVING ME. GOOD EVENING PORT PRESIDENT AND COMMISSIONERS. I'M BARB WOLFE, ASSISTANT PORT AUTHORITY ADMINISTRATOR SERVING AS AN ADVOCATE AND LIAISON TO OUR BUSINESS COMMUNITY.
SO TONIGHT I'M GOING TO SHARE SOME INFORMATION ABOUT ELEVATE HANNIFIN. IT'S BEEN TWO YEARS SINCE WE PRESENTED SO BRINGING IT TOP OF MIND AGAIN ELEVATE HENNEPIN
IS A PARTNERSHIP BETWEEN HENNEPIN COUNTY, THE CITY OF BLOOMINGTON THAT'S ALLOWED I DON'T KNOW WHETHER BETWEEN THE CITY OF BLOOMINGTON AND
SEVERAL OTHER COMMUNITIES WITHIN HENNEPIN COUNTY. CITY OF BLOOMINGTON HAS SUPPORTED A PARTNERED AND SUPPORTED WITH HENNEPIN COUNTY SINCE DECEMBER OF 2020 WHICH
IS WHEN ELEVATE HENNEPIN BEGAN . SO I'LL SHARE A BIT ABOUT HOW ELEVATE HADN'T BEEN STARTED. THE RANGE OF RESOURCES OFFERED NOW AND THE COLLECTIVE IMPACTS
GENERATED FROM THE BEGINNING THROUGH 2024. AS HOLLY MENTIONED TONIGHT, BRANDON BELL IS HERE WITH ME. HE'S PRINCIPAL PLANNING ANALYST WITH HENNEPIN COUNTY. HE'S BEEN A GREAT SUPPORTER AND PARTNER OF THIS PROGRAM
AND MANY OTHER PROGRAMS THAT WE HAVE SO EXCITED TO HAVE HIM HERE WITH US THIS EVENING TO ANSWER ANY QUESTIONS. SO WHY ENTREPRENEURS,
ENTREPRENEURS AND SMALL BUSINESSES ARE IMPORTANT TO OUR LOCAL ECONOMY AS MANY OF US ON THIS BOARD KNOW THAT GREAT RESILIENT COMMUNITIES BETTER ABLE TO RETAIN
EMPLOYEES CREATE PLACES THAT ATTRACT BETTER TALENT, GENERATE WEALTH THAT STAYS IN OUR COMMUNITY. AND OF COURSE WE DON'T KNOW WHICH SMALL BUSINESS IS GOING
TO BE OUR NEXT BIG BUSINESS. OKAY, SO ELEVATE HENNEPIN IS FOCUSED ON TACKLING DISPARITIES BY FOCUSING ON EQUITY AND CREATING ACCESSIBLE
PATHWAYS TO ENTREPRENEURSHIP WHICH OF COURSE PARTNERS VERY WELL WITH THE CITY'S STRATEGIC INITIATIVE FROM BLOOMINGTON AND TOMORROW TOGETHER PARTICULARLY OUR EQUITABLE
ECONOMIC GROWTH ACROSS AND THROUGHOUT OUR COMMUNITY. SO ELEVATE HENNEPIN HAS CREATED A DIVERSE AND INCLUSIVE NETWORK OF PROFESSIONAL ADVISORS IMPROVED COMMUNICATION WITH
OUR EXISTING BUSINESS OWNERS, CONNECT TO OUR ENTREPRENEURS AND HELP GROW BUSINESS IDEAS, OFFER ASSISTANCE WITH PROBLEM SOLVING AND FINDING SOLUTIONS AND CREATING SEVERAL PEER
NETWORKS. SO BASICALLY THIS PLATFORM HAS GROWN OVER THE YEARS IN RESPONSE TO OUR BUSINESSES. SO WHAT EXACTLY IS ELEVATE AN EVENT?
AND JUST SIMPLY AS A SMALL BUSINESS SUPPORT SYSTEM OF RESOURCES. SO AS I STATED THIS INITIATIVE LAUNCHED IN LATE 2020 AS BUSINESSES WERE STRUGGLING WITH THE IMPACTS OF THE
PANDEMIC AND ALSO CIVIL UNREST . SO HENNEPIN COUNTY CONVENED A DIVERSE GROUP OF BUSINESS OWNERS TO SERVE ON A BUSINESS ADVISORY COUNCIL APPOINTED BY THE HENNEPIN COUNTY BOARD TO
GUIDE THE COUNTY IN THEIR ECONOMIC RELIEF AND RECOVERY EFFORTS. SIMILAR TO WHAT WE DID IN BLOOMINGTON. SO IN DIRECT RESPONSE TO GUIDANCE FROM THAT BUSINESS ADVISORY COUNCIL, HENNEPIN COUNTY CREATED THE ELEVATE
HENNEPIN PLATFORM. SO A SINGLE ONLINE PLACE FOR BUSINESSES TO GO TO ACCESS RESOURCES PRIMARILY UTILIZATION OF THE ONE ON ONE BUSINESS CONSULTING SERVICES
TO BUSINESS OWNERS. AND THEN THROUGH THIS CONTINUOUS FEEDBACK FROM BUSINESS OWNERS, HENNEPIN COUNTY HAS RESPONDED AND LAUNCHED ADDITIONAL PROGRAMING OVER THE YEARS.
SO NOW WE HAVE A SERIES OF COHORT PROGRAMS. HENNEPIN COUNTY NOW HAS BUSINESS NAVIGATORS THAT MEET VIRTUALLY WITH BUSINESSES. AND SO I LIKEN THAT IS SORT
OF LIKE ANOTHER ME. SO TALKING TO BUSINESSES DIRECTLY AND DIRECTING THEM TO THE BUSINESS ADVISORS THAT THEY CAN UTILIZE AND BEST FIT THEIR NEEDS. AND THEN A NEW THIS YEAR ONE
TIME FUNDING IS TO NEW SMALL BUSINESS LOAN FUNDS TO INCREASE ACCESS TO CAPITAL. AND I'LL TOUCH ON THOSE.
SO THIS IS WHERE WE COME IN WHILE I THINK OF HANOVER COUNTY AS A TREMENDOUS PARTNER FOR ME AND OUR LOCAL BUSINESS COMMUNITY AS ALONG WITH OTHER MUNICIPALITIES DO HELP SUPPORT
THIS ENDEAVOR WITH FINANCIAL SUPPORT SPREADING THE RESOURCE THROUGH OUR OWN PROMOTION AND MARKETING. AND ALSO OF COURSE WORD OF MOUTH. WE SERVE AS PARTNERS AND HOSTS
OF THE PROGRAMS AND EVENTS AND REALLY THE ALL OF THESE CITY PARTNERS ARE HAVE BEEN AND CONTINUE TO BE A VITAL PART OF ELEVATE HENNEPIN SUCCESS. AND I JUST WANT TO NOTE THAT
OVER 58% OF HENNEPIN COUNTY BUSINESSES ARE OUTSIDE OF THE MINNEAPOLIS AREA . SO ELEVATE HENNEPIN. THIS IS THE FRONT PAGE OF IT.
IT'S A ONE STOP SHOP FOR PROGRAMING BY HENNEPIN COUNTY ,BUT IT ALSO OFFERS RESOURCES AND EVENTS AND PROGRAMS OFFERED AT THE LOCAL, STATE AND FEDERAL LEVELS. SO ANY PROGRAMS THAT WE WOULD
HAVE IN BLOOMINGTON HERE IF I WANT SUPPORT AND MARKETING AND PROMOTING THOSE I CONTACT HENNEPIN COUNTY. LIKE I SAID, THEY'VE INVOLVED WE'RE INVOLVED WITH THESE IMPROVEMENTS CONTINUING TO
UPDATE THE WEBSITE ITSELF MAKING IT MORE ACCESSIBLE, MORE VIBRANT AND CONSOLIDATING ALL THE RESOURCES. AND THEIR COMMS TEAM HAS BEEN PARTNERING WITH OURS AND HAVE
A NUMBER OF STORIES AND EVENTS THAT THEY'RE PROMOTING AND ALL THESE LEARNING OPPORTUNITIES ARE IN THAT ONE PLACE. MOST OF THESE RESOURCES ARE AT NO COST.
VERY FEW OF THEM HAVE A SMALL COST ASSOCIATED WITH THEM. THE INTAKE FORMS FOR THE BUSINESS OWNERS THEMSELVES ONLY TAKE 3 TO 5 MINUTES AND THERE'S NO ACCOUNT OR PASSWORD
REQUIRED FOR THAT AS WELL. MOST IN-DEMAND RESOURCES THAT 1 TO 1 ADVISING FOR BUSINESS OWNERS. SO THE ONLY COST TO THE BUSINESS OWNERS IS OUR TIME COMMITMENT.
WE KNOW THAT THAT IS STILL ALSO A STRUGGLE BUT THAT'S THE ONE THING THAT WE ASK FROM THEM. CURRENTLY WE HAVE 34 ADVISORS ON ELEVATE HENNEPIN WITH A VARIETY OF EXPERTISE AVAILABLE
TO WORK WITH CONSULTANTS TO HELP BUSINESS OWNERS SOLVE THEIR PROBLEMS THAT THEY'RE FACING. SO ANY BUSINESS OWNER IN HENNEPIN COUNTY CAN ACCESS THESE RESOURCES WHICH IS 25
HOURS OF NO COST SUPPORT WITH EACH ONE OF THE ADVISORS IN TEN AREAS OF EXPERTISE. WHAT I REALLY PARTICULARLY LOVE ABOUT THIS PROGRAM AND THERE'S SO MANY THINGS TO LOVE
ABOUT IT BUT ALL OF THESE ADVISORS ARE SMALL BUSINESSES THEMSELVES THROUGHOUT THE METRO AREA SO THEY'RE GETTING PAID. SO IT'S A PROGRAM SUPPORTING SMALL BUSINESSES IN MULTIPLE
WAYS. SO THESE ARE THE TEN AREAS THAT WE'RE FOCUSING ON FOR SUPPORT THAT HAVE BEEN THE BIGGEST NEED THAT WE HEAR FROM
BUSINESS OWNERS. SO AND THAT AND THERE'S STILL A LOT OF DETAILS ON THE WEBSITE. IT IS VERY SIMPLIFIED FROM WHAT WE ORIGINALLY STARTED WITH BUT THAT'S WHY THE BUSINESS NAVIGATION IS THERE.
TH'S WHY THERE'S OUR FIRST POINT OF CONTACT HERE AT THE CITY AS WELL. SO THOSE NAVIGATION SESSIONS THAT BUSINESS OWNERS CAN HAVE IS 10 TO 15 MINUTES SO FINDING
OUT WHAT THEIR NEEDS ARE AND DIRECTING THEM TO THE CONSULTANT THAT CAN WORK WITH THEM. LIKE I SAID, HENNEPIN COUNTY'S COMMUNICATIONS TEAM AND OUR
COMMS TEAM HAVE WORKED TOGETHER. THERE'S A NUMBER OF DIFFERENT BUSINESSES IMPLEMENT AND THAT HAVE USER SERVICES AND THEIR COMMS TEAM HAVE DONE STORIES ON GILBERTO DIAZ HERE HE IS
THE OWNER OF LITTLE BOOTS. THEY'VE DONE A STORY AND VIDEO ON GILBERTO. HE'S WORKED WITH TWO ADVISORS OF ONE OF WHICH IS NEXT STAGE WHICH ALSO IS ANOTHER SMALL
BUSINESS IN BLOOMINGTON TO HELP HERBERT HILL BERTO GAIN ACCESS TO CAPITAL AND HE EXPANDED HIS STORE AND ALSO JLP MEDIA DESIGNED A NEW
WEBSITE FOR HIM WHEN HE EXPANDED AS WELL.
SO LET'S SEE IF WE CAN GET PAST THAT. AND THEN THERE'S THESE FUN THINGS THAT ARE IN HERE WHICH ARE NEVER GOOD DURING OUR
PRESENTATION AND WE HAVE A SLOW OKAY. SO IN ADDITION TO THE ONE ON ONE ADVISING OVER THE YEARS ELEVATE HENNEPIN HAS ALSO OFFER A VARIETY OF COHORT
LEARNING OPPORTUNITIES. SO YOU CAN SEE THESE FROM THE EMERGING ENTREPRENEUR UP TO EARLY STAGE AND THEN FURTHER.
SO THE FACILITATORS OF THESE PROGRAMS ARE ALSO JUST LIKE THE ONE ON ONE ADVISING THEIR LOCAL AND DIVERSE. AND MANY OF THEM ARE BUSINESS OWNERS THEMSELVES. SO THE PROGRAMS AT THE EARLY
STAGE CEO START BOOT CAMP AND ALSO CEO START WE'VE HELD BOTH OF THOSE PROGRAMS HERE IN BLOOMINGTON. SO YOU'LL START WAS A FIRST TIME THIS PAST WEEKEND WITH
OUR TOP 25 HATCH APPLICANTS. IT WAS EXCELLENT PROGRAMING AND WILL HELP HELP THOSE PARTICIPANT WITH THEIR FIRST PITCH NEXT WEEK ALL THE WAY UP
TO MORE ADVANCED PROGRAMING FOR SECOND STAGE BUSINESSES. ALL OF THESE PROGRAMS LISTED HERE RANGE FROM TWO DAYS TO EIGHT MONTHS IN LENGTH DEPENDING ON THE PROGRAM MOST
ARE IN PER IN PERSON WITH THE EXCEPTION OF CERTIFIED ACCESS WHICH IS OFFERED VIRTUALLY. AND AGAIN THESE PROGRAMS ARE OFFERED AT NO FINANCIAL COST TO THE BUSINESS OWNER EXCEPT
FOR THEIR TIME. AN ADDITIONAL OFFERING HERE IS THE COVEN. HENNEPIN COUNTY NOW OFFERS A
NO COST ONLINE MEMBERSHIP TO THE COVANCE DIGITAL LIBRARY OF ENTREPRENEURIAL PROGRAMING THE COVEN FOR THOSE THAT AREN'T FAMILIAR IS A CO-WORKING SPACE AND COMMUNITY SPACE.
THERE'S A LOCATION I THINK THERE'S TWO IN ST PAUL, ONE IN MINNEAPOLIS. THERE'S OVER 100 EPISODES JUST THESE ARE SOME OF THE TITLES HERE THAT BUSINESS OWNERS CAN
ACCESS. SO TOUCHING ON THOSE TWO NEW SMALL BUSINESS BUSINESS CAPITAL FUNDS THAT WERE LAUNCHED THIS YEAR ELEVATE HENNEPIN SMALL BUSINESS LOANS
AND ELEVATE HENNEPIN COMMERCIAL OWNERSHIP FUND. THESE ARE ONE TIME FUNDING TO OFFER LOW BARRIER FINANCING FOR STARTUPS AND ESTABLISHED
SMALL BUSINESSES. SO HENNEPIN COUNTY IS ACTUALLY INVESTING 4.2 MILLION INTO THESE TWO CAPITAL FUNDS AND THROUGH A COMPETITIVE RFP PROCESS LAST YEAR NEXT STAGE
AGAIN ONE OF OUR BLOOMINGTON BUSINESSES WAS CHOSEN TO DISTRIBUTE THAT FUNDING TO SMALL BUSINESSES THROUGHOUT HENNEPIN COUNTY. AND THEY'VE ALREADY PARTNERED
ON A COUPLE OF PROJECTS WITH US. OKAY SO WORKSHOPS AND EVENTS MONTHLY EVENTS HAVE BEEN ADDED I WOULD TOUCH ON HERE SOME
OF THESE ARE NEWER THRIVING THURSDAYS IS A NEW ONE THAT'S JUST GETTING IMPLEMENTED THAT IS SORT OF A TAKE ON OUR WELCOMING WEDNESDAYS THAT BLOOMINGTON HAS BEEN PARTNERING WITH LAUNCH
MINNESOTA ON. WE'RE IN OUR THIRD YEAR OF THAT IF YOU'RE UNFAMILIAR ON THE SECOND WEDNESDAY OF EVERY MONTH WE OFFER TECHNICAL BUSINESS ADVISING HOURS AGAIN WITH NEXT STAGE AS
OUR PARTNER THIS YEAR SO THRIVING THURSDAYS THE CITY OF BLOOMINGTON WILL ALSO PARTNER WITH HENNEPIN COUNTY ON THAT SO THAT'LL BE COMING UP LATER THIS YEAR. THAT WILL ALLOW OFFICE HOURS
HERE IN BLOOMINGTON, PERHAPS NOT AT CITY HALL STAFFED BY BUSINESS ADVISORS. WE CONTINUE TO PARTNER WITH HANNAH BANK COUNTY ON THE
ANNUAL LOVE LOCAL CAMPAIGN. WE'VE BEEN DOING THIS SINCE THE BEGINNING AS WELL. WHEN YOU VISIT BUSINESSES THROUGHOUT THE COMMUNITY YOU MAY SEE SOME OF THE STICKERS NOT THIS ONE IN PARTICULAR BUT
SEE THEM ON SOME OF OUR BUSINESS WINDOWS. SO WHAT ARE THE IMPACTS OF ALL THIS WORK? THIS IS A REFLECTION ACROSS HENNEPIN COUNTY.
THIS IS FROM 2020 THROUGH 2024. SO THIS MAP REFLECTS ALL THE BUSINESSES ACROSS THE SPECTRUM. SO REFLECTED IN PINK HERE THE
ADVISOR SERVED OVER 3200 BUSINESSES WITH 41,000 HOURS OF SUPPORT. AND ELEVATE HENNEPIN ADVISORS HAVE ALSO HELPED OVER 200 BUSINESSES LAUNCH AND THE
COHORT PROGRAMS DEPICTED HERE IN BLUE HAVE GRADUATED 244 BUSINESSES SPONSOR CONCEPTION AND THE ADVISORS HAVE ASSISTED BUSINESSES WITH OBTAINING
NEARLY 36 MILLION IN FINANCE IN WITH THE SUPPORT OF COUNTY FINANCING BUSINESSES I'VE BEEN ABLE TO CREATE 688 NEW JOBS
THROUGHOUT HENNEPIN COUNTY. SOME SPECIFIC NUMBERS TO BLOOMINGTON ELEVATE HENNEPIN STATS HERE IN 20 2492 OF OUR
BUSINESSES IN OUR COMMUNITY RECEIVE THAT ONE ON ONE ADVISING HOURS WITH 1220 HOURS OF ASSISTANCE. AND SO THIS JUST HELPS DEMONSTRATE SOME OF THAT NEED
IN OUR COMMUNITY. AND THEN YOU CAN ALSO SEE SOME OF THE TOP VENDORS FROM THE ADVISORS ON WHO'S USING THOSE
SERVICES AND WHAT THEY ARE . AND SO REALLY I JUST WANT TO ITERATE THAT THE GOAL WITH HENNEPIN COUNTY IS NOT TO SERVE EVERY SMALL BUSINESS WITHIN HENNEPIN COUNTY. THIS SERVES AS A RESOURCE AND
A PARTNER FOR US SO THAT WHEN BUSINESSES DO CONTACT US AND THEY NEED THAT ASSISTANCE IT'S HERE FOR THEM. AND SO WITH THAT I'LL STAY ON FOR SOME QUESTIONS ALONG WITH BRANDON BELL FROM HENNEPIN COUNTY.
THANK YOU FOR YOUR WELCOME, BRANDON PORT AUTHORITY QUESTIONS COMMENTS. YOU KNOW ONE OF THE THINGS
THAT IS YOU'RE TALKING IN I THINK WE'VE BEEN TALKING ABOUT THIS FOR A NUMBER OF YEARS IS WE WE HAVE BEEN SERVING THE LARGE BUSINESSES BECAUSE THEY HAVE THE RESOURCES TO COME
IN AND GET OUR ATTENTION. BUT WE YOU KNOW, THE SMALL BUSINESSES HAVEN'T AND I KNOW IN MY CAREER ARE SUPER SUPERVALU. A LOT OF WHAT WE DID WITH OUR AFFILIATED RETAILERS WAS HELPED THEM NAVIGATE AND IT'S
A VERY DIFFICULT KIND OF THING TO DO THAT FOR SO MANY BUSINESSES AND THE WORLD HAS GOTTEN A LOT MORE COMPLEX. SO IT I MEAN IT I, I APPLAUD
WHAT YOU'RE DOING AND IT LOOKS LIKE YOU'RE GETTING SOME INTEREST IN THAT AND TO HAVE SOMEPLACE WHERE SOMEBODY STARTING OUT CAN GO AND GET SOME HELP AND POINT THEM
IN THE RIGHT DIRECTION AND AND SAY YOU'VE GOT TO BE AWARE OF THIS. YOU GOT TO BE AWARE OF THAT. AND AND YOU KNOW, THERE'S THERE'S A LOT OF COMPLEXITIES IF YOU'RE OFFERING ANYTHING AND THEY'VE GOTTEN MORE COMPLEX WITH SOME OF THE NEW
COMPENSATED ABSENCES AND EVERYTHING ELSE THAT WE HAVE TO DEAL WITH SO. SO BRANDON, DO YOU WANT TO MAKE ANY COMMENTS? YEAH. SO BRANDON BELL THANK YOU
PRESIDENT ERICSSON AND COMMISSIONERS FOR HAVING ME HERE TODAY. BRANDON ABOUT WITH HENNEPIN COUNTY PRINCIPAL PLANNING ANALYST I JUST WANT TO SAY I THINK BLOOMINGTON IS DOING A REALLY GOOD JOB.
I THINK YOU HAVE TAKEN A REAL PROACTIVE APPROACH WITH SMALL BUSINESSES. THERE'S WHAT YOU REALLY NEED TO DO AND YOU KNOW A LOT OF CREDIT TO BARB FOR THE PROGRAMS SHE'S HELPED DEVELOP HERE.
YOU KNOW, I HAVE SOMEONE NEW FROM A FROM ANOTHER CITY THAT SAYS, YOU KNOW WHAT WHAT CAN I DO TO HELP OUT IN MY COMMUNITY? I USUALLY SEND THEM OUR WAY BECAUSE YOU KNOW YOU HAVE AN EXTENSIVE PROGRAMING HERE AND
IT TAKES A WHILE FOR SOME OF THESE THINGS TO CATCH ON AND REALLY WE SEE THAT A LOT OF THE REFERRALS AND THE RECOMMENDATIONS COME THROUGH WORD OF MOUTH AND SO YOU HAVE TO START SOMEWHERE AND IT'S BEEN REALLY AND WE'RE
STARTING TO GET THESE BASIC SERVICES TO THE SMALL BUSINESS OWNERS THAT WE NEED AND WE'RE SEEING A LOT OF SUCCESS IN BLOOMINGTON. SO THANK YOU FOR ALL THE WORK THAT YOU PUT IN AS COMMISSIONERS AND BEING
DEDICATED TO YOUR SMALL BUSINESSES AND THANK YOU FOR BEING A PARTNER IN ELEVATE. HENNEPIN GREAT COMMENTS. MAYOR THANK YOU, MR. PRESIDENT .
THANKS FOR THE PRESENTATION. I CAN SPEAK DIRECTLY TO THE ELEVATE OR TO THE CEO START PROGRAM BECAUSE I'VE BEEN ABLE TO SPEAK AT A COUPLE OF THE GRADUATION CEREMONIES THAT THEY'VE DONE.
IT'S A GREAT GROUP. IT'S ALWAYS A LOT OF ENERGY. GREAT, GREAT NIGHT. MAYBE YOU COULD SHARE IF YOU COULD YOU SHOWED THE GRAPH ABOUT THE THE GENDER BREAKDOWN AND NUMBER OF EMPLOYEES THAT KIND OF THING.
BUT WHAT KIND OF BUSINESSES ARE YOU SEEING COMING THROUGH THE CEO START PROGRAM? WHAT WHAT'S MOST COMMON WHAT'S REALLY STOOD OUT IN YOUR MIND WHAT WHAT DO YOU THINK IS
REALLY CAUGHT YOUR ATTENTION IS A POTENTIAL FOR SUCCESS SO GO AHEAD. YEAH SO FOR CEO START I MEAN WE SEE A WIDE RANGE OF IDEAS AND THAT'S SORT OF WHAT'S
INTERESTING IS SORT OF THE THE IMAGINATION THAT YOU SEE BEHIND SOME OF THESE THINGS WHERE YOU DIDN'T EVEN KNOW THIS COULD BE A SUCCESSFUL BUSINESS. WE HAVE SOMEONE WHO RUNS OUT LLAMAS THAT IS FROM RICHFIELD
OR LLAMAS ARE NOT IN RICHFIELD BUT SHE'S BEEN TAKING OFF EVER SINCE CEO START AND SHE GOES TO PARTIES WITH THESE LLAMAS AND YOU KNOW I WOULDN'T HAVE
THOUGHT THAT WAS A GOOD LIKE I WOULDN'T THINK LIKE OH THAT'S THAT'S A BUSINESS IDEA RIGHT YOU KNOW LLAMAS IN THE CITY BUT IT'S WORKING AND IT'S IT'S THAT'S AT LEAST FOR ME IS IT
LIKE SOMETHING THAT'S VERY ENJOYABLE LIKE IT'S ENJOYABLE TO SEE THAT THAT THESE IDEAS THAT PEOPLE HAVE YOU KNOW WE SEE A LOT OF SERVICE BASED IDEAS WE HAD IN THE MOST RECENT CEO START WE HAD SOMEONE WHO WAS I THINK THEY
THEY WOULD CALL THEM LIKE A DEATH COUNSELOR OR SOMETHING LIKE THAT TO HELP PEOPLE PLAN LIKE THEIR OWN THEIR OWN YOU KNOW, CELEBRATIONS OF LIFE OR HELP FAMILY MEMBERS AND STUFF AND IT'S IT'S A SERVICE THAT
WE FOUND OUT THAT SHE PRESENTED ABOUT THAT THERE'S REALLY ONLY A COUPLE OF THOSE PEOPLE THAT ARE DOING THAT IN THE TWIN CITIES SO THERE'S A NEED FOR IT AND THAT'S WHAT WE'RE FINDING IS THERE'S THESE
GAPS THAT THESE IDEA STATE ENTREPRENEURS SEE AND THEY JUST NEED HELP GETTING IN THERE AND STARTING IT TO FILL THAT GAP. SO THAT'S REALLY WHAT WE SEE A LOT OF HAPPENING.
YOU KNOW IT'S A BIG MIX OF SERVICE AND LIKE RETAIL IS WHAT WE'RE SEEING. SO IT'S IT'S A PRETTY GOOD MIX OF THAT. THANK YOU. THANK YOU. MR. PEARSON THANK YOU.
SO ONE THING I WANT TO SAY IS IT WASN'T IN THE PRESENTATION BUT IT'S IN THE AGENDA IS THE LAST TIME YOU WERE HERE WE TALKED ABOUT KIND OF INPUTS VERSUS OUTPUTS IN THIS AND WANTED TO KIND OF LOOK AT OUTPUTS AND I'M HAPPY TO SEE
THAT THERE WAS SOME DISCUSSION OF OUTPUTS AND HEARING AND THAT'S A THAT'S A GOOD THING AND I'D ASK YOU TO CONTINUE TO FOCUS ON THAT KIND OF THE THE NEXT THING I'M GOING TO AT LEAST AS ONE COMMISSIONER KIND
OF CHALLENGE YOU ON AND THIS IS MAYBE I'LL BE LOOKING A LITTLE BIT MORE BARB HERE IS A LOT OF WHY WE WELL WE TALK ABOUT SOME SMALL BUSINESSES TURN INTO BIG BUSINESSES A LOT
OF THE SERVICES THAT WE'RE PROVIDING HERE ARE REALLY NOT ARE REALLY NOT SUPPORTING BUSINESSES THAT HAVE THE POTENTIAL TO SCALE TO LARGE BUSINESSES AND I THINK THOSE BUSINESSES STILL NEED SUPPORT AND WE SHOULD CONTINUE TO DO
THAT. BUT I WOULD ENCOURAGE YOU TO THINK ABOUT OTHER THINGS THAT WE COULD BE DOING WITH A PORTION OF OUR RESOURCES THAT THAT ARE TARGETED AT BUSINESSES THAT HAVE THE
POTENTIAL TO SCALE SO THAT WE'RE GETTING SOME OF THOSE BUSINESSES IN THE MIX ARE YOU KNOW, SOMETHING THAT HAS THE POTENTIAL TO SCALE BEYOND OUR
CITY, YOU KNOW, MAYBE SERVING NEEDS BEYOND THAT BECAUSE I THINK THOSE IF WE CAN WE CAN GET SOME OF THOSE IN THE MIX THOSE HAVE THE POTENTIAL TO KIND OF REALLY INCREASE THE EMPLOYMENT IMPACT OF WHAT
WE'RE DOING HERE. AND SO THAT WOULD BE MY MY CHALLENGE WITHOUT WITHOUT TAKING TOO MUCH FOCUS AWAY FROM THE KIND OF SMALL BUSINESS SIDE OF THIS IS WHAT CAN WE DO WITH ENTREPRENEURS
WHO HAVE IDEAS THAT HAVE THE POTENTIAL TO BE BIG THINGS AND HELPING THEM GET STARTED AND THEM AND HAVE THEM BE HAVE THEM BE IN IN BLOOMINGTON IN STARTING MY BUSINESS
BECAUSE I THINK THAT IF YOU LOOK AT THE METRICS IN HERE, YOU KNOW ONE OF THE ONE OF THE METRICS YOU TALKED ABOUT WAS KIND OF NUMBER OF EMPLOYER EMPLOYEES THAT THAT GENERATED AND THAT WOULD THAT WOULD IF
YOU IF YOU CAN TAKE THOSE RESOURCES AND MAKE THAT NUMBER BE BIGGER WITHOUT HAVING TO HAVE A LOT MORE RESOURCES AND THAT THAT CREATES A BIGGER BENEFIT. SO IT'D BE MY PERSONAL CHALLENGE TO KIND OF TALK ABOUT THINK ABOUT THAT.
THANK YOU. EXCELLENT OTHER QUESTIONS COMMENTS. WELL THANK YOU VERY MUCH. IT'S WE'LL LOOK FORWARD TO
SOME FUTURE PRESENTATIONS AND JUST KEEP DOING THE WORK. THANK YOU. OKAY HOW ARE YOU WANT TO YOU'RE GOING TO COVER STATE LEGISLATION REQUIRING LOCAL
APPROVAL. >> I'M ACTUALLY NOT PRESIDENT ERICKSON AND COMMISSIONERS NO I HAVE AN ASSISTANT PORT AUTHORITY ADMINISTRATOR KEVIN KENNY SAYS THE NEXT THREE ITEMS BUT I WILL BE SPEAKING TO IT A LITTLE BIT
MORE DURING OUR AND MY ADMINISTRATOR UPDATES AT THE END. THIS IS THE TECHNICAL PART OF WHAT WE NEED TO DO. YOU KNOW BOB, IT'S NOT LIKE THE OLDEN DAYS WHERE WE HAD ONE EMPLOYEE I REMEMBER NOW WE
HAVE THERE'S A LITTLE OF OUR CHARTER AND I THINK WHAT WE'RE SEEING IS EXCEL. HE KNOWS HOW TO DELEGATE. YEAH. ALL RIGHT, KEVIN YES. GOOD EVENING. BOARD PRESIDENT, MAYOR AND
COMMISSIONERS. SO THIS ITEM IS APPROVING RESOLUTIONS FOR THE 2025 STATE LEGISLATION SO WE'RE REQUIRED TO APPROVE IT AT A LOCAL LEVEL
AND JUST TO KIND OF AN OVERVIEW ON THAT. SO THE CITY PURSUED TWO ITEMS OF LEGISLATION AND THAT WAS EXTENDING THE TAX EXEMPTION FOR THE RAMADA PROPERTIES.
SO THAT'S THREE SITES ON THE RAMONA SITES JUST NORTH OF THE MALL OF AMERICA BY SIX YEARS. SO EXTENDING THAT ECONOMIC DEVELOPMENT EXEMPTION AND THEN ALSO EXTENDING THE TIMELINE
FOR THE SPENDING PLAN TIFF DEADLINES AND THE START OF CONSTRUCTION BY TWO YEARS TO DECEMBER 31ST OF 2027. AND SO THE MOTIONS REFERENCE THOSE TWO ITEMS.
SO COUNCIL WILL ALSO BE CONSIDERING THOSE ITEMS ON JUNE 30TH AND AS A RESULT OF IT BEING APPROVED BY THE LEGISLATURE IN THE SPECIAL SESSION WE ARE REQUIRED TO
FILE A CERTIFICATION OF APPROVAL WITH THE SECRETARY OF STATE AND THE LAWS HAVE NOT BEEN CODIFIED YET. SO THEY'VE BEEN MY UNDERSTANDING IS THEY'VE BEEN PRESENTED TO THE GOVERNOR BUT
WE DON'T HAVE THE FULL ARTICLE NUMBERS AND REFERENCES YET. SO WHAT YOU'RE SEEING IN YOUR PACKET IS THE NUMBERS THAT WERE IN THE SPECIAL LEGISLATION. SO THE DOCUMENT THAT WE
ACTUALLY NEED TO EXECUTE IS LEFT BLANK AS A RESULT OF THAT AND AS A REMINDER THE ACTION IS IN REGARD TO ACCEPTING THAT LEGISLATION I'M HAPPY TO ANSWER ANY QUESTIONS THAT YOU
MAY HAVE QUESTIONS FOR KEVIN CLEMENTS WELL IF NOT, I THINK WE CAN WE HAVE TWO MOTIONS THAT WE NEED TO MAKE THEM SO I WOULD ENTERTAIN THE
FIRST MOTION, MR. PRESIDENT, AND MOVE A RESOLUTION APPROVING LAWS OF MINNESOTA 2025 FOR A SPECIAL SESSION CHAPTER 13 ARTICLE TWO SECTION 17 AUTHORIZING THE CITY
OF BLOOMINGTON TO FILE AN APPLICATION FOR PROPERTY TAX EXEMPTION FOR CERTAIN PROPERTIES OWNED BY THE PORT AUTHORITY OF THE CITY OF BLOOMINGTON AND TO AUTHORIZE RELATED ACTIONS CONSISTENT WITH THE INTENT OF THE RESOLUTION.
I CAN DO WE HAVE A SECOND SECOND BY COMMISSIONER LANCE ANY FURTHER DISCUSSION? NOT ALL IN FAVOR PLEASE SIGNIFY BY SAYING I I OPPOSED MOTION CARRIES SEVEN ZERO AND
THEN WE HAVE A SECOND MOTION ON THE SAME PAGE. PAGE 45 WE HAVE SOMEBODY ELSE WHO WANTS TO TACKLE READING IT AS PRESIDENT I WOULD MOVE A
RESOLUTION APPROVING LAWS OF MINNESOTA 2025 FOR A SPECIAL SESSION CHAPTER 13 ARTICLE FIVE SECTION SIX AUTHORIZING THE CITY OF BLOOMINGTON TO AMEND ITS SPENDING PLAN TO SPEND LOAN OR INVEST TRANSFERRED INCREMENT
AS AUTHORIZED UNDER SECTION 469 .176 SUBDIVISION FOUR IN THROUGH DECEMBER 31ST 2027 AND TO AUTHORIZE RELATED ACTIONS CONSISTENT WITH THE INTENT OF THE RESOLUTION. THANK YOU, MR. MAYOR.
DO WE HAVE A SECOND SECOND BY COMMISSIONER PETERSON ANY FURTHER DISCUSSION IF NOT ALL IN FAVOR PLEASE SIGNIFY BY SAYING I I OPPOSED MOTION CARRIES SEVEN ZERO.
ALL RIGHT. SO ANYTHING ELSE FOR US, KEVIN? YES. THE NEXT ITEM BEFORE YOU IS THE RAMADA PROPERTY PURCHASE AGREEMENT TERMINATION WHICH
ALIGNS WITH THAT LAST ITEM ON AND I'M KIND OF JUMPING INTO THE NEXT THING HERE SO AT THE PORT'S MAY MEETING A PART APPROVED A SALE OF THE REMAINDER PROPERTY SALE TO THE
CITY OF BLOOMINGTON AND DURING THAT SAME TIME THE LEGISLATURE WAS EVALUATING THE EXTENSION THAT WE JUST REFERENCED IN THE LAST ITEM AND DUE TO THE FACT THAT THAT ITEM WAS PASSED BY THE LEGISLATURE AND WE
RECEIVED A SIX YEAR ECONOMIC DEVELOPMENT TAX EXEMPTION FOR THAT SITE, STAFF IS REQUESTING TO TERMINATE THAT PURCHASE AGREEMENT AND FOR THE PROPERTY TO REMAIN WITH THE PORT FOR THE PURPOSES OF INCOME NOMIC
DEVELOPMENT AND SO THE CITY WOULD CONTINUE TO EVALUATE ECONOMIC DEVELOPMENT OPPORTUNITIES AT THAT PROPERTY THAT REALLY REFLECT THE PREEMINENCE OF THE SITE AND ALSO ITS LOCATION AS AN ENTRY
POINT TO THE CITY. SO THE REQUEST IS TO AUTHORIZE A TERMINATION OF THAT PURCHASE AGREEMENT WHICH WAS NOT EXECUTED BUT WAS SIGNED BY BOTH THE PORT AND CITY.
THIS GETS RATHER COMPLICATED. I DON'T KNOW DID DOES THE CITY COUNCIL THINK THAT THE PORT AUTHORITY IS BEING UNTRUE OR ANYTHING ON THIS WHOLE PROCESS? AND IF I COULD IN THIS PRESIDENT THIS THIS WAS A
COMPLICATED ISSUE AND I THINK IT PROVED MORE THAN ANYTHING ESPECIALLY WITH SOME OF OUR FRIENDS ONLINE THE NOTION OF IN THE ABSENCE OF INFORMATION OR CREATE THEIR OWN AND WE SAW THAT THROUGHOUT
THE CONVERSATION AROUND THIS AND I THINK TO IN CANCELING THIS I THINK WE NEED TO CLARIFY WE NEED TO COMMUNICATE AS MUCH AS WE POSSIBLY CAN. WILL THERE BE A BIKE SKILLS
COURSE THERE ANYMORE OR NOT? WHAT THE WHOLE DEAL WAS WHAT WE WERE TRYING TO ACCOMPLISH JUST TO TRY AND PUT TO REST SOME OF THE THE WILD THEORIES ABOUT WHAT WAS GOING ON AND WHAT WE WERE TRYING TO ACCOMPLISH IN DOING ALL
OF THIS. YES, PRESIDENT AND MAYOR COMMISSIONER SO THE INTENTION WOULD BE TO NOT PROCEED WITH THE BIKE SKILLS COURSE DUE TO THE FACT THAT THAT WOULD ADD ADDITIONAL COST TO THE
RESIDENTS OF THE CITY. SO THE INTENTION WOULD BE TO MARKET THE PROPERTY FOR A MORE INTENSE USE THAT REFLECTS BOTH THE LOCATION BUT THEN ALSO THE OPPORTUNITY TO INCREASE THE TAX BASE THROUGH DEVELOPMENT
AT THAT SITE. AND I ASSUME THAT THE FOLKS AT THE MALL OF AMERICA HAVE CONTINUED TO AGREE THAT THIS PROCESS TRANSFERRING BACK AND FORTH IS OKAY WITH THEM.
YES. PORT PRESIDENT SO WE HAD DISCUSSIONS WITH THE MALL OF AMERICA WHERE THEY WERE GOING TO EXECUTE A CONSENT AGREEMENT TO ALLOW FOR US TO TRANSFER THE PROPERTY SO THEY HAVE A RIGHT OF FIRST REFUSAL
FOR THAT PROPERTY. WE NEGOTIATED THAT WITH THEM AND WE'RE PREPARED TO EXECUTE THAT. BUT DUE TO THE FACT THAT WE DO NOT WE'RE NOT RECOMMENDING THE TRANSFER IF YOU AGREE TO THE TERMINATION AND WE WILL NOT
EXECUTE THAT CONSENT AS A RESULT OF THAT ACTION AND RENDERS THEIR RIGHT OF FIRST REFUSAL EXPIRE, IT EXPIRES ON APRIL 30TH OF 2026 SO ANOTHER
YEAR MISSION WAS TO APRIL 30TH OF 2026. THAT'S THE FIRST. THAT'S CORRECT .
OKAY. ANY OTHER QUESTIONS? COMMENTS? IF NOT, I WOULD ENTERTAIN THE MOTION ON PAGE 57 OF YOUR PACKAGE.
I SEE PEOPLE AS YOU'RE LOOKING AT IT, COMMISSIONER NELSON, YOU LOOK LIKE YOU HAD A SMILE ON YOUR FACE. DO YOU WANT TO GO FOR IT?
I'LL TRY TO FIND A PAGE SO CREATURE OF THAT, MR. PRESIDENT. ALL RIGHT. IT'S UP 57.
YES, I'D MOVE TO APPROVE A TERMINATION OF PURCHASE AGREEMENT EXECUTED BY THE PORT AUTHORITY AND THE CITY OF BLOOMINGTON FOR THE FORMER RAMADA THUNDERBIRD HOTEL SITE
AND AUTHORIZATION TO EXECUTE ALL RELATED AND NECESSARY DOCUMENTS REQUIRED. MR. PRESIDENT, I JUST GOING TO RAISE A TECHNICAL QUESTION BUT
FIRST CAN I SECOND HIS MOTION YET PLEASE DO THIS MOTION AND NOW WE CAN OKAY RESTRICTED IS THERE SOME OBSCURE CONFLICT FOR PEOPLE WHO ARE CITY GOVERNMENT PEOPLE AND THEN
POOR PEOPLE LIKE SAY THESE TWO GUYS I MEAN YOU'RE GOING TO VOTE ON BOTH SIDES OF THIS THING. I'M JUST CURIOUS THAT YOU SAID THERE'S BEEN THERE WAS SOME HULLABALOO AT SOME POINT AND
I'M TRYING TO HELP AVOID ANY POINTLESS BASELESS STUFF IN THE FUTURE. WE HAVE A QUORUM WITHOUT WELL, I THINK WE HAVE OUR CITY ATTORNEY HERE. EXCELLENT. MELISSA CAN PROBABLY TELL US
IS PROBABLY I'M SURE BEEN OVER THIS MANY TIMES BUT I WOULDN'T HAVE BROUGHT IT UP IF I DIDN'T HEAR THE MAYOR MEMBERS OR EXCUSE ME NOT THAT'S NOT WHERE WE'RE AT WHERE WE ARE AT.
CHERYL AND KIRSCHNER, THANK YOU FOR THE QUESTION. SO THE CITY AND THE PORT ARE IN ALIGNMENT AT THE STAFF
LEVEL ON WHAT THE WHAT THE NEXT STEPS ARE AND HAVE BEEN THROUGHOUT THE ENTIRE PROCESS. SO I DON'T SEE THERE AS BEING A CONFLICT OF INTEREST.
I APPRECIATE WHAT YOU'RE SAYING IN THAT THE PARTIES ARE DUPLICATIVE AND WITH THE TWO MEMBERS BEING ON BOTH BODIES BUT I DON'T SEE IT AS A CONFLICT THAT WOULDN'T BE ABLE
TO BE WAIVED. SO I THINK YOU'VE BROUGHT UP A GOOD POINT AND THE DISCUSSION BUT I DON'T SEE IT AS SOMETHING THAT I THINK THAT I RECOGNIZE IT'S A I THANK YOU ANNOYING POINT BUT I THINK ANY
FURTHER DISCUSSION ON THE POINT THAT WE HAVE A MOTION MADE AND SECONDED ALL IN FAVOR PLEASE SIGNIFY BY SAYING I I OPPOSED MOTION CARRIES SEVEN ZERO. ANYTHING ELSE FIRST KEVIN THE
NEXT AGENDA ITEM YEAH YOU'RE ON A ROLL. SO THE NEXT ITEM IS THE BLOOMINGTON CENTRAL STATION GROCERY A MINUTE AND RESTATED RECAPTURE AGREEMENT UPDATE SO
AS A REMINDER WE ALSO SAW THIS ON THE MAY 20TH MEETING AND DURING THAT MEETING COMMISSIONER LANCE INTRODUCED A SMALL REVISION TO THE LANGUAGE REGARDING APPRAISAL DETERMINATIONS FOR CAP RATES
AND MARKET VALUE AND WE BROUGHT BACK THOSE LANGUAGE RECOMMENDATIONS AND CHANGES BACK TO MCGUFF, THE DEVELOPER OF THE PROPERTY TO FINALIZE THOSE CHANGES IN THE AGREEMENT
AND DURING THAT PROCESS MCGUFF DISCOVERED SOME LANGUAGE ABOUT HOW THE TENANT PROVIDES THEIR INFORMATION REGARDING TO THEIR GROSS SALES AND HOW WE CALCULATE THE PERCENTAGE RENT
AND THAT DIDN'T ALIGN WITH THE LEASE THAT THEY HAD EXECUTED WITH THEIR TENANT. SO AS A RESULT OF THAT CHANGE WE'RE BEING BRINGING BACK A SMALL REVISION TO THE AGREEMENT THAT EFFECTIVELY
JUST CHANGES THAT ONE LANGUAGE JUST A LITTLE BIT WHERE MCGUFF WOULD COLLECT THE INFORMATION FROM THE TENANT AND THEN PROVIDE IT TO THE CITY BASED ON A REQUEST THAT THE CITY WOULD MAKE OF THAT INFORMATION .
SO THE REQUEST IS TO APPROVE THE AGREEMENT WITH THOSE MODIFICATIONS AS WELL AS THE REQUEST THAT COMMISSIONER LYONS MADE ABOUT THE APPRAISAL LANGUAGE AND AND THEN ALSO
SMALL UPDATE WE ALSO LEARNED THAT THE TENANTS OF COLONIAL MARKET FILED FOR THEIR ENVIRONMENTAL HEALTH PERMITS WHICH IS KIND OF A STEP BEFORE OPENING SO THEY'RE STILL ON ON
A TIMELINE TO OPEN LATER THIS SUMMER RIGHT COMMISSIONER LANCE IS THAT THIS THAT SATISFIED WITH THE CHANGE? YES. GOOD.
OKAY. >> WE'RE GOING TO HAVE A LIQUOR LICENSE. YES. THE INTENTION IS FOR THEM TO OPERATE BOTH GROCERY AND LIQUOR AND THEN ALSO HAVE A QUICK SERVE RESTAURANT COMPONENT AS WELL.
GOOD. OKAY. ANY OTHER QUESTIONS OR COMMENTS? I WOULD ENTERTAIN THE MOTION AND ON PAGE 59 OF YOUR PACKAGE IS A FAIRLY SIMPLE ONE TO READ
. COMMISSIONER PETERSON YOU LOOK LIKE YOU WANT TO READ. I MOVE THAT WE APPROVE THE AMENDED AND RESTATED RECAPTURE AGREEMENT WITH BOOKS FOR MULTIFAMILY LLC IS SUBSTANTIALLY SET FORTH
IN THIS AGENDA ITEM THANK YOU. SECONDED BY COMMISSIONER LANCE ANY FURTHER DISCUSSION AT ALL IN FAVOR PLEASE SIGNIFY BY SAYING I I OPPOSED MOTION
CARRIES SEVEN ZERO THANK YOU YOU'RE DONE OKAY OKAY PRESENTLY YES PRESIDENT ERICKSON AND COMMISSIONERS THANK YOU FOR SAYING IT DELEGATE NOW IT'S A IT'S A
GOOD SKILL TO HAVE YOU SAW THE ORG CHARTS GOING CRAZY SO THANK YOU VERY MUCH FOR BEING HERE THIS EVENING. I DO HAVE A FEW GENERAL UPDATES I'D LIKE TO PROVIDE YOU ALL. ONE IS I DID FORWARD A RECAP
OF THE LEGISLATIVE ACTIVITY THAT TOOK PLACE THIS YEAR AT THE STATE CAPITOL WITH OUR COUNCIL WHILE OUR LOBBYISTS THERE KATIE SUN PRESENTED TO CITY COUNCIL LAST NIGHT.
SO I KNOW TWO OF YOU SAW THIS BUT A FEW ITEMS THAT ARE RELEVANT TO US. YOU HEARD ABOUT THE AMOUNT OF PROPERTY TAX EXEMPTION WE ARE LOOKING FORWARD TO MARKETING THAT SITE AND REALLY DRIVING SOME SIGNIFICANT
DEVELOPMENT THERE. THE EXTENSION TO OUR SPENDING PLAN TIFF WILL ENABLE US TO CONTINUE OUR CONVERSATIONS WITH MALL OF AMERICA TO BUILD A WATER PARK. SO WE WILL BE CONTINUING THOSE
CONVERSATIONS WITH YOU AS WELL AND ARE OPTIMISTIC THAT WE'LL BE DISCUSSING THAT AT FUTURE MEETINGS. ANOTHER THING THAT WE HAD WAS THE MINNESOTA FORWARD FUND.
THAT FUND WAS CREATED TO HELP ASSIST WITH SOME OF OUR CHIPS AND HIGH TECH MANUFACTURING AND REQUIRED A FEDERAL MATCH THIS YEAR THE LEGISLATURE DECOUPLED THE FUND FROM THE
FEDERAL MATCH WHICH ALLOWS MORE COMPANIES TO GO AFTER THAT FUNDING TO SUPPORT THEM. SO HIGH TECH MANUFACTURING IS CERTAINLY A SPACE THAT BLOOMINGTON IS EXCITED AT TO GROW OUR EMPLOYMENT IN AND WE
HOPE THAT SOME OF OUR COMPANIES HERE CAN TAKE ADVANTAGE OF THAT AS WELL. UNFORTUNATELY WE WERE NOT LUCKY WITH OUR APPEAL FOR SOME FUNDING FOR OUR BLUME IN BLOOMINGTON PROGRAM BUT
THAT PROGRAM CONTINUES TO EXPAND AND THE MAIN EXPENSE OF THAT PROGRAM AT THIS POINT IS STAFF TIME. SO WE HOPE TO COME BACK TO YOU AS WE GET INTO OUR BUDGET SEASON AND TALK ABOUT HOW WE
MIGHT CONTINUE THAT PROGRAM MOVING FORWARD ANY QUESTIONS ABOUT OUR LEGISLATIVE UPDATES? I DON'T. MR. OR DO YOU WANT TO MAKE ANY COMMENT OR ANYTHING?
THANK YOU, MR. PRESIDENT. I THINK HOLLY COVERED IT VERY WELL. IN ADDITION, THE ONLY OTHER BIGGIE I THINK WORTH NOTING THERE WAS A BINDING REQUEST FROM THE CITY TO HELP WITH THE SEWER EXPANSION PROJECT
ESPECIALLY AS IT COMES OUT OF THE SOUTH TOWN AREA OF THE AND AMERICAN DISTRICT. THE FOR SOME REASON THE STATE THEY PASSED THE BONDING BILL AND DIDN'T PASS ANY LOCAL PROJECTS WITHIN THAT BONDING
BILL AND IT THEY ALLOCATED MONEY TO STATE INSTITUTIONS AND STATE AGENCIES BUT NOT INDIVIDUAL WATER PROJECTS OR OTHER SMALLER PROJECTS.
AND I THINK KATIE, OUR LOBBYIST REPORTED LAST NIGHT WE WERE OPTIMISTIC BECAUSE IT WAS A WATER PROJECT. THERE WAS GENERAL CONSENSUS AROUND THE NEED FOR WATER PROJECTS AND WE WERE A METRO WATER PROJECT AND THEN
OF COURSE THEY DIDN'T PASS ANYTHING ON THE LOCAL LEVEL SO ANOTHER ONE THAT WE NEED TO CONTINUE TO WORK ON ESPECIALLY IF WE WE HOPE TO EXPAND THE SEWER CAPACITY IN THAT AREA WHICH WOULD THEN OF COURSE LEAD TO REDEVELOPMENT
OPPORTUNITIES IN THE SOUTH TOWN AND PAN-AMERICAN DISTRICT . GREAT. THANK YOU, MR. NELSON AND THANK YOU, PRESIDENT. ONE OTHER THING TO NOTE
IN THERE THERE WAS A LOT OF HOUSING RELATED ACTIVITY IN THERE AND ONE OF THE THINGS THAT I THINK WILL IMPACT THE PORT AND SOME OF THE LARGER MULTIFAMILY HOUSING PROJECTS THROUGHOUT THE COMMUNITY IS A
PREFERENCE IN TERMS OF FUNDING FOR COMMUNITIES THAT HAVE TAKEN VARIOUS STEPS TO BE PROACTIVE IN TRYING TO BUILD MORE HOUSING UNITS AND I THINK THAT WILL HELP US BECAUSE I
THINK WE'VE DONE MOST OF WHAT THEY'VE REQUESTED SO WE'LL SCORE HIGHER IN THE GRANT FUNDING OPPORTUNITIES THERE. SO AND THEN THE ONLY THING THIS ISN'T REALLY RELATED TO
THAT BUT IT'S CONNECTED TO IT IS THE ELEVATE HENNEPIN AND SOME OF THE STUFF WITH THE SUGAR, THE CHIPS AND THE MAIN FACTORY AND THE HIGH TECH
MANUFACTURING. I'M WONDERING IF ANYTHING IN ELEVATE HENNEPIN CAN BE DESIGNED TO TARGET SPECIFIC INDUSTRIES THAT WE WOULD LIKE
TO PROMOTE WITHIN THE COMMUNITY IF WE CAN TRY TO DEVELOP PROGRAMING OR SUPPORT FOR I THINK TO THE POINT OF OF TAKING COMPANIES TO THEEXT STEP THAT MAYBE AREN'T JUST
BLOOMINGTON RELATED BUT ARE EVEN BIGGER THAN THAT IF THERE'S ANYTHING WE CAN DO TO HELP SUPPORT SPECIFIC INDUSTRIES WITHIN THE COMMUNITY IN TERMS OF THOSE PROGRAMS.
I DON'T KNOW ALL THE ANSWERS JUST THROWING THAT OUT THERE AS A THOUGHT AND AN IDEA. THANK YOU, COMMISSIONER NELSON AND AND I DID WANT TO COMMENT ON THAT ELEVATE HENNEPIN IS AT
THIS TIME FOCUSED PRIMARILY ON THOSE SMALLER BUSINESSES AND I KNOW YOU'RE TALKING ABOUT WHAT WHAT IS THE NEXT STEP TO GET TO SCALABLE BUSINESSES. WE DO WORK WITH ANOTHER ORGANIZATION CALLED GREATER MSP THAT I THINK YOU ALL ARE
AWARE OF AND THEY TEND TO BE A GROUP THAT IS FOCUSING ON BUILDING THOSE COALITIONS. THEY WERE LEADING THE CHIPS AT COALITION WORK AND THEN WE HAD A PRESENTATION THIS MORNING
FROM DEDE FROM THE STATE'S WORKFORCE BOARD ABOUT THE DRIVE FOR FIVE INDUSTRIES AS WELL. SO THAT'S MORE FROM THE SUPPLY SIDE OF THE WORKFORCE SIDE AND TRAINING. BUT YOUR COMMENTS ARE ARE
TAKEN ABOUT HOW CAN WE REALLY FOCUS ON THOSE INDUSTRIES THAT ARE OF INTEREST TO US HERE IN BLOOMINGTON? SO I THINK WE WILL BE HAVING SOME CONVERSATIONS ABOUT THAT IN THE FUTURE.
THANK YOU. ANY OTHER QUESTIONS COMMENTS? >> I DO HAVE A FEW OTHER UPTICK AS WELL. I'M SO SORRY I JUST PAUSED ON THAT ONE BECAUSE I KNEW THAT WAS AN EXPANSIVE TOPIC.
THANK YOU SO MUCH. ALL RIGHT. SO ONE OTHER THING I MENTIONED THAT WE ARE MOVING INTO OUR BUDGET SEASON SO YOU WILL EXPECT TO SEE THE PORT'S BUDGET AND LEVY REQUEST IN SEPTEMBER AND LIKELY
NOVEMBER, MAYBE OCTOBER HERE AS YOU HAVE IN THE PAST AND THEN THAT WILL FOLLOW AT CITY COUNCIL THE NEXT MONTH. SO THAT'S THE SEQUENCE WE'VE BEEN FOLLOWING. I DID WANT TO LET YOU KNOW
THAT IN CONSULTATION WITH OUR AUDITOR AND WITH OUR FINANCE TEAM WE ARE LOOKING TO DO SOME NAMING CHANGES. SO UP UNTIL THIS POINT YOU HAVE KNOWN THE PORT'S THE
FUNDS THAT ARE IN THE SOUTH LOOP AS THE GENERAL FUND WHICH HAS BECOME CONFUSING GIVEN THAT WE NOW WORK CITYWIDE. SO OUR LEVY MOVING FORWARD WE WILL BE RENAMING IT TO THE
PORT'S GENERAL FUND. WE'LL TAKE SOME TRANSITION TIME WITH THAT WILL ALWAYS MAKE IT CLEAR WHEN WE'RE TALKING ABOUT THE LEVY VERSUS OTHER FUNDS THAT THE PORT HAS AVAILABLE BUT THAT IS SOMETHING WE ARE TAKING ON
WITHIN THE FINANCE TEAM AND THE PORT TO MAKE OUR FUND NAMES MORE LOGICAL FOR THE FUTURE. SO JUST WANT TO MAKE YOU AWARE OF THAT. >> WE'LL GET USED TO IT OVER
TIME AND THEN ONE OTHER PIECE OF GOOD NEWS AT A PREVIOUS MEETING YOU PLEDGED UP TO $90,000 TO SUPPORT THE PRIZE FOR HATCH BLOOMINGTON WHICH IS 100,000.
WE DID GET SOME GOOD NEWS THAT STEARNS BANK HAS PLEDGED 10,000 AND THEN THEY WERE ABLE TO SECURE A THREE TIMES MATCH. SO AN ADDITIONAL 40,000 HAS BEEN PLEDGED TO THE PROGRAM.
SO THE PORT IS NOW SUPPORTING WITH 50,000 INSTEAD OF 93. AND I BELIEVE THAT IS IT FOR THIS EVENING. >> THANK YOU ALL FOR BEING HERE. WELL, THAT'S ALWAYS NICE TO
HAVE A VERY POSITIVE NOTE THAT WE CAN SAVE MONEY ON THE WAY OUT AND YOU KNOW, I THINK THE THING WE GET INTO WITH WITH THE LEGISLATURE HAVING JUST COMPLETED THE SPECIAL SESSION
THAT THE EXCELLENT COMMENT BY MANY IS THAT THEY MAY BE BACK AGAIN WITH ALL THE THINGS THAT ARE GOING ON ON THE FEDERAL LEVEL. SO WE'RE LIVING IN VERY DIFFERENT TIMES THAT WE'RE
GOING TO HAVE TO BE LOOKING AT A LOT OF THINGS. BUT I THINK IT'S JUST SO IMPORTANT THAT WE CAN KEEP THOSE THINGS THE DRIVERS OF THE COMMUNITY GOING. SO WITH THAT I THINK WE'RE ADJOURNED.
OKAY. >> THANK YOU ALL