AND SO MAYBE WE CAN CALL THE MEETING TO ORDER THIS SO LET ME LET ME JUST SAY AT THIS START OF THE MEETING WE ALL WANT TO EXTEND OUR
DEEPEST SYMPATHY TO CYNTHIA HOLT ON THE LOSS OF HER HUSBAND. I MEAN I DON'T JUST IN TALKING WITH YOU MOSTLY IT MEETINGS OVER THE LAST SEVERAL YEARS
IT'S BEEN DIFFICULT AND YOU'VE JUST DONE A WONDERFUL JOB OF CARING FOR HIM AND LETTING HIM LIVE THE MOST ACTIVE LIFE HE COULD AND SO AGAIN, WE JUST HAVE THE DEEPEST SYMPATHY FOR
YOU AND IT'S VERY HARD I HAVEN'T LOST AS FAR AS I HOPE IT DOESN'T HAPPEN FOR A WHILE BUT AT ANY RATE IT'S JUST IT'S THE KIND OF THING THAT LIFE
TRANSITIONS SO AT ANY RATE WE JUST SO LET'S JUST TAKE A MOMENT OF SILENCE FOR CYNTHIA. >> THIS MEETING IS BEING TRANSCRIBED AND SUMMARIZED
. OKAY. THANK YOU. DO WE WANT TO HAVE THE OATH
OF OFFICE SEND FOR MR. COMMISSIONER BUSSE MAYOR BUSSE AND I I'LL I'LL GO SLOW. OKAY.
ALL RIGHT. I TIM BUSSE I TIM BUSSE DO SOLEMNLY SWEAR. DO SOLEMNLY SWEAR THAT I WILL SUPPORT THE CONSTITU ATION OF THE UNITED STATES AND I WILL SUPPORT THE CONSTITUTION OF THE UNITED STATES AND OF THE STATE OF MINNESOTA AND
OF THE STATE OF MINNESOTA AND FAITHFULLY DISCHARGE THE DUTIES OF THE OFFICE OF PORT AUTHORITY AND FAITHFULLY DISCHARGE THE DUTIES OF THE OFFICE OF PORT AUTHORITY OF THE CITY OF BLOOMINGTON OF THE CITY OF BLOOMINGTON
IN THE COUNTY OF HENNEPIN IN THE COUNTY OF HENNEPIN AND STATE OF MINNESOTA. STATE OF MINNESOTA TO THE BEST OF MY JUDGMENT AND ABILITY TO THE BEST OF MY JUDGMENT AND ABILITY
AND THEN AS AS SOON AS COMMISSIONER NELSON IS ON ME, WE WILL HAVE TO DO A ROLL CALL . I DON'T KNOW YET BUT KENT, CAN
WE JUST CONTINUE WITH OUR CALLS UNTIL HE COMES ON? ALL RIGHT. ALL RIGHT. WELL, THE THE NEXT ITEM ON THE AGENDA THEN IS ON PAGE FOUR OF THE APPOINTMENT
OF OFFICERS. THIS IS AN ANNUAL THING WE DO SO WE CAN ENTERTAIN NOMINATIONS FOR ANY ANY INDIVIDUAL POSITIONS OR SOMEBODY CAN MOVE THE SLATE OR
I MOVE THAT THE SLATE FROM 2025 BE MOVED FORWARD TO 2026. DO WE HAVE A SECOND MOTION IN A SECOND? ANY FURTHER DISCUSSION IF NOT ALL IN FAVOR FOR THE SAKE
OF BY SAYING I I OPPOSE MOTION CARRIES SIX ZERO PICTURE THANK . ALL RIGHT. THE NEXT ITEM ON THE AGENDA IS
THE APPROVAL OF PORT AUTHORITY MINUTES. THAT'S ON PAGE FIVE. SO I ENTERTAIN A MOTION FOR THEIR APPROVAL AND MOTION MADE BY COMMISSIONER HUNT.
DO WE HAVE A SECOND SECOND SECOND BY COMMISSIONER BUSSE? ANY ADDITIONS OR CORRECTIONS IF NOT ALL IN FAVOR PLEASE SIGNIFY BY SAYING I. I OPPOSED MOTION CARRIES SIX
ZERO. THEN WE GET DOWN TO CONSENT BUSINESS. I WAS SO HAPPY WHEN WE HAD THIS AGENDA THAT WE CAN DO A CONSENT INSTEAD OF HAVING TO
APPROVE EACH ONE INDIVIDUALLY AND ESPECIALLY I THOUGHT IF WITH COMMISSIONER NELSON BEING REMOVED WE WOULD HAVE HAD TO HAVE YOU KNOW, ALL THESE ROLL CALL VOTES EVERY TIME.
SO AND GO AHEAD. YES, YES, YES. AND I JUST WANTED TO MAKE A BRIEF CORRECTION TO THE CONSENT AGENDA ITEM 3.5 WE HAD ORIGINALLY PUBLISHED APPROVE
APPOINTMENT OF BOND COUNSEL SPECIFICALLY NAMING JULIE ADDINGTON AS OUR BOND COUNSEL. Q TALK ROCK SHE HAS SINCE MADE AN ANNOUNCEMENT THAT SHE WILL BE RETIRING AT THE END
OF FEBRUARY SO WE'VE REMOVED HER NAME FROM THE ITEM AND WE ARE GOING TO BE CONTINUING WITH Q TALK ROCK AS URBAN COUNCIL WE ARE LIKELY TO WORK WITH GINA FIORINI WHO'S OUR SPECIAL COUNSEL BUT MAY WORK
WITH OTHER ATTORNEYS AS WELL. SO I JUST WANTED TO MAKE SURE THAT WAS CLEAR TO YOU ALL IN WHAT YOU'RE APPROVING. AND I THINK THE OTHER THING THAT WE HAVE WITH RESPECT TO THE CONSENT ITEMS IS FOR AS MANY YEARS AS I CAN REMEMBER,
COMMISSIONER HUNT HAS HAD TO RECUSE HERSELF ON BANK DEPOSITORIES. BUT I THINK NOW YOU'RE PROBABLY I'M JUST YOU'RE JUST FINE. SO IF WHAT WE HAVE IS IF
PEOPLE ARE COMFORTABLE WE'VE GOT ITEMS 3.133.8 AND ON THE CONSENT AGENDA TONIGHT IF ANYONE WISHES TO REQUEST AN EXCEPTION TO HOLD OVER A CONSENT ITEM FROM THIS AGENDA
PLEASE LET ME KNOW OTHERWISE MR. PRESIDENT, I MOVE THAT WE ADOPT THE CONSENT ITEMS 3.1 THROUGH 3.8. THANK YOU. DO WE HAVE A SECOND SECOND
MOTION MADE BY COMMISSIONER PETERSON SECONDED BY COMMISSIONER BUSSE? ANY FURTHER DISCUSSION IF NOT ALL IN FAVOR PLEASE SIGNIFY BY SAYING I I POSED MOTION
CARRIES SIX ZERO. OKAY THE NEXT ITEM THEN IS THE ENLARGEMENT OF FINANCIAL POLICIES.
PAGE 14 I GUESS THAT TAKES A SEPARATE MOTION. YEAH. SO ON PAGE 14 WE JUST WE HAVE
THE POLICIES LISTED THERE AND I GUESS WE HAVE PEOPLE HERE THAT IF ANYBODY WANTS TO DISCUSS ANY OF THE FINANCIAL POLICIES WE CAN OTHERWISE I WOULD ENTERTAIN THE MOTION ON
ON PAGE 14. WELL I MEAN WASN'T THIS PART OF MR. PRESIDENT I BELIEVE THE YEAH YEAH, YEAH. OKAY. I SENT THIS I DIDN'T LOOK DOWN
I'M I APOLOGIZE. I SHOULD HAVE GONE DOWN ITEM FOUR AND SO WE CAN SIMPLIFY
LIFE SO I AM 4.1 AMERICAN SQUARE OF PLAN AMENDMENT OH KEVIN GOOD EVENING PRESIDENT ERICKSON MER BY CITY
COMMISSIONERS WE HAVE A PRESENTATION WE'RE JUST GOING TO PULL UP HERE BUT THIS ITEM IS FOR A MODIFICATION FOR THE AMERICAN SQUARE TIFF PLAN. SO THIS IS A HOUSING TAX
INCREMENT FINANCING PLAN THAT WAS ORIGINALLY APPROVED IN AUGUST OF 2020 FOR THE AMERICAN SQUARE DEVELOPMENT PROJECT. AND WHILE WE'RE PULLING UP THIS PRESENTATION, THIS PLAN
WAS FOR A TWO PHASED DEVELOPMENT PROJECT THAT INCLUDED A MARKET RATE DEVELOPMENT WHICH IS NOW CONSTRUCTED CALLED ARTER ON
THE BLUFFS. BEAR WITH ME JUST ONE SECOND HERE. THERE WE GO. AND A SECOND PHASE WHICH WAS
PLANNED TO BE THE KITCHEN WHICH WAS A 86 UNIT 100% AFFORDABLE APARTMENT BUILDING AS WELL AS A SEPARATE PARKING RAMP THAT WOULD BE CONSTRUCTED
ON THE SOUTHERN PORTION OF THE TIFF DISTRICT. HOWEVER, THE PANDEMIC IMPACTED THE DEVELOPMENT TIMELINES FOR THIS DISTRICT AND SO THAT ORDER WAS NOT CONSTRUCTED AND
COMPLETED UNTIL JULY OF 2024 AND THE KITCHEN NEVER MOVED FORWARD. PART OF THE REASON FOR THAT IS THE PROPERTY THAT THAT DEVELOPMENT WAS TO TAKE PLACE
ON WAS OR IS PRIVATELY OWNED AND THE DEVELOPER WAS NOT ABLE TO NEGOTIATE TERMS FOR ITS ACQUISITION. SO SINCE THEN THE DEVELOPER HAS LOOKED AT A ALTERNATE
OPTION TO THE DEVELOPER OR TO DEVELOP THE SENIOR AFFORDABLE HOUSING DEVELOPMENT AND IN DECEMBER OF 2025 THEY APPROACHED STAFF AFTER HAVING
ACQUIRED TWO PARCELS WHICH ARE THE PARCELS IN BLUE ON THIS SLIDE. THIS IS THE PROPOSED EXPANSION OR MODIFICATION FOR THE TIFF DISTRICT AND THOSE PARCELS
CONTAIN THE RIVER VIEW OFFICE TOWER IN THE RIVER VIEW OFFICE TOWER PARKING RAMP. THE PROPOSAL WOULD BE TO CONVERT FIVE FLOORS OF RIVER VIEW TOWER INTO 75 UNITS
OF SENIOR AFFORDABLE APARTMENTS SAME AMI LEVELS BUT IT WOULD BE SPECIFICALLY FOR SENIOR APARTMENTS WITH CONSTRUCTION SLATED TO START
IN 2027 SO DEPICTED HERE IS THE FIRST PHASE WHICH AS I MENTIONED WAS COMPLETED IN JULY OF 2024. SO THIS IS OUT AROUND THE BLUFFS. THIS IS THE 235 UNIT MARKET
RATE APARTMENT. SO THIS IS GENERATING TAX INCREMENT THAT WOULD HELP PROVIDE SUBSIDY IF APPROVED FOR THE AFFORDABLE BUILDING. AND THEN THE NEXT SLIDE SHOWS
IN THE BACKGROUND OF THAT IMAGE RIVER VIEW OFFICE TOWER AND THEN THIS IS A FLOOR PLATE THAT SHOWS A GENERAL PLAN. THIS IS LIKELY SUBJECT TO CHANGE OF THE LAYOUT OF THE
UNIT. SO THERE IS A PROPOSAL TO HAVE APPROXIMATELY 15 UNITS PER FLOOR SO A TOTAL OF 75 UNITS THAT WOULD BE CONVERTED TO
AFFORDABLE APARTMENTS. AND WHY DO WE HAVE A TIFF PLAN? SO THE TIFF PLAN ITSELF PROVIDES THE STATUTORY AUTHORIZATION ACTUALLY UTILIZE
THE TAX INCREMENT FINANCING AS WELL AS PROVIDING FOR THE THE DISTRICT BOUNDARIES AND THE PROJECT AREA ITSELF. AND THEN IT ALSO OUTLINES HOW THE INCREMENT WOULD BE USED. SO IN THIS CASE FOR AFFORDABLE
HOUSING. AND THE IMPORTANT THING TO NOTE IS THAT IT IS NOT ACTUALLY COMMITTING TO PROVIDING FINANCIAL ASSISTANCE TO THE PROJECT AT THIS POINT. SO THIS IS REALLY THE
AUTHORITY TO PROVIDE TO FOR ASSISTANCE. HOWEVER, WE'RE STILL AT A POINT WHERE WE'RE NEGOTIATING THE TERMS OF THE DEVELOPMENT AGREEMENT WITH THE DEVELOPER AND THE REASON WE'RE BRINGING IT BEFORE YOU TODAY IS BECAUSE
WE ARE NEARING A FIVE YEAR RULE WHERE WE CAN NO LONGER EXPAND OR EXPAND THE DISTRICT BOUNDARIES. AND SO THAT DEADLINE IS MARCH 16TH OF THIS YEAR.
SO THE PLAN WOULD BE IF APPROVED TO EXPAND THE DISTRICT BOUNDARIES TO ALLOW FOR INCLUSION OF THESE PARCELS, NEGOTIATE THE TERMS OF FINANCIAL ASSISTANCE IF NEEDED FOR THE DEVELOPMENT AND COME BACK TO THIS BODY AT A
LATER DATE. IN ADDITION TO THOSE ITEMS WE HAVE TO DETERMINE THAT THE DISTRICT NEEDS HOUSING TIFF DISTRICT REQUIREMENTS SO
THAT'S HAVING A MINIMUM PERCENTAGE OF UNITS THAT ARE AFFORDABLE TO HOUSEHOLDS AT 60% OF AREA MEDIAN INCOME. IN THIS CASE THIS PROJECT WOULD EXCEED IT AS CURRENTLY PROPOSED. ONE THING I WANT TO NOTE IS
THAT WE CAN'T PROVIDE FINANCIAL ASSISTANCE TO MORE THAN 20% OF THE SQUARE FOOTAGE OF A BUILDING THAT CONSISTS OF COMMERCIAL RETAIL OR OTHER NON RESIDENTIAL USES. SO PART OF WHAT WE'RE WORKING
THROUGH IS NEGOTIATING WITH THE DEVELOPER. THEY WOULD HAVE TO CHANGE THE LEGAL STRUCTURE OR OWNERSHIP STRUCTURE OF THE BUILDING TO ALLOW US TO BE IN COMPLIANCE WITH THAT RULE AND THEN THE
INCOME LIMITATIONS OF THE RENTAL UNITS WOULD LAST FOR THE DURATION OF THE DISTRICT WHICH IN THIS CASE IS THROUGH 2049 AND THEN IN ORDER TO APPROVE THE TIFF DISTRICT.
SO THESE ARE THE FINDINGS THAT WERE INITIALLY MADE IN AUGUST OF 2020. BUT I WANT TO REITERATE THEM HERE WE HAVE TO MEET THE BUY FOR A TEST SO THAT'S THE DEVELOPMENT WOULD NOT OCCUR
BUT FOR THE FINANCIAL ASSISTANCE THE PLAN ITSELF IS CONSISTENT WITH THE DEVELOPMENT OF THE CITY AS A WHOLE AND MAXIMIZES ITS OPPORTUNITY FOR DEVELOPMENT
AN THEN IT QUALIFIES AS A HOUSING TIFF DISTRICT AND AS I MENTIONED WE'RE STILL WORKING THROUGH WHAT DUE DILIGENCE
WOULD BE REQUIRED FROM THE DEVELOPER TO DETERMINE THE SUBSIDY NEED AND DETERMINE THE FORM THAT THAT SUBSIDY WOULD BE PROVIDED AND IN WHAT AMOUNTS BASED ON OUR
EVALUATION THERE IS A GAP THAT IS DRIVEN BY THE REDUCTION IN THE AMOUNT OF RENT THAT WOULD BE RECEIVED FROM THE AFFORDABLE UNITS THAT WOULD DEMONSTRATE SUBSIDY. BUT WE'RE STILL DETERMINING WHAT THOSE FINAL AMOUNTS WOULD
BE AND THE STAFF IS PROPOSING THAT ANY ASSISTANCE THAT'S PROVIDED TO THIS PROJECT WOULD BE THROUGH WHAT IS CALLED A PAY AS YOU GO NOW. SO THAT IS WHERE WE PROVIDE A NOTE TO PROVIDE THE ASSISTANCE
FROM FUTURE TIFF RECEIPTS AND THE DEVELOPERS TAKE ON THE RISK UPFRONT AND THEN ANY DEVELOPMENT AGREEMENT WOULD BE SUBJECT TO THAT AND FUTURE APPROVALS OF THIS BODY.
AND WITH THAT I'VE GOT THE MOTION BEFORE YOU AND WE'LL STAND FOR QUESTIONS. I THINK OUR MUNICIPAL ADVISOR MIKAYLA HEWITT WITH BAKER TILLY MAY ALSO BE AVAILABLE ON THE PHONE FOR QUESTIONS AS
WELL. WHAT I'M WONDERING IS IF WE WANT TO JUST SUSPEND DISCUSSION OF THIS SO THAT WE CAN ADMINISTER THE OATH OF OFFICE TO MR. NELSON YES, I
CAN STEP BACK THAT WE'RE HERE, THAT WE'RE HERE LEGALLY YOU VOTE AND WHATEVER COMES UP . YEAH, WELL YOU'RE THE SECOND ONE THAT'S MADE A COMMENT
ABOUT HIS HIS SARTORIAL SPLENDOR SO OR HAIR ARE YOU? I'M GOOD I RAISE YOUR RIGHT
HAND RIGHT I SHAWN NELSON I SHAWN NELSON DO SOLEMNLY SWEAR DO SOLEMNLY SWEAR THAT I WILL SUPPORT THE CONSTITUTION OF THE UNITED STATES THAT I WILL SUPPORT THE CONSTITUTION OF THE UNITED STATES AND THE STATE OF MINNESOTA AND THE
STATE OF MINNESOTA AND FAITHFULLY DISCHARGE THE DUTIES OF THE OFFICE OF PORT AUTHORITY AND FAITHFULLY DISCHARGE THE DUTIES OF THE OFFICE OF THE FORD ADMINISTRATION PORT AUTHORITY
OF BLOOMINGTON, THE CITY OF BLOOMINGTON IN THE CITY OF BLOOMINGTON SORRY IN THE COUNTY OF HENNEPIN IN THE COUNTRY OF HAMILTON AND STATE OF MINNESOTA AND THE STATE OF MINNESOTA TO THE BEST OF MY
JUDGMENT THE ABILITY TO THE BEST OF MY JUDGMENT AND ABILITY. AND NOW, COMMISSIONER NELSON, WHAT YOU'VE DONE THAT WE HAVE TO ASK YOU ARE YOU GOING TO
MAKE THE SAME BOLD DECLARATION THAT YOU HAD? I THINK THE LAST MEETING WHEN YOU WERE FIRST BORN IN THE FIRST MEETING YOU WERE AT WE WE MADE YOU TEMPORARY CHAIR OR
SOMETHING AND YOU SAID YOU KNOW, I HEAR I'M COMING IN AND I'M RUNNING THE AUTHORITY. SO NOW I ONLY ONLY PRESIDENT ERICKSON IF YOU WANT TO STEP OUT SO IT'S NOT UP TO ME.
I JUST ALL RIGHT. GET OUT OF MY CELL. TREASURER. YES, YOU ARE. OKAY. OH, I'M SORRY. YOUR SECRETARY YOUR SECRETARY STILL?
YES. SO YOU GOT VOTED IN. I'LL KEEP GOOD NOTES. IT'S OKAY. ALL RIGHT. KEVIN, CAN WE GO BACK TO SO YES. ANYBODY HAVE ANY QUESTIONS?
I MEAN, I THINK ALL YOU'RE TRYING TO DO HERE IS JUST CREATE OPTIONS. I MEAN EVERYTHING IS IS COMING BACK AND AGAINST COMMISSIONER HUNT SO THE BUILDINGS MAY
AREN'T THERE THE BUILDING IS 12 STORIES. I BELIEVE THE BUILDING IS ACTUALLY 1515 STORIES. YES. 15 CORRECT. 15 STORIES. OKAY.
THE FIVE STORIES ARE THEY HAVE THEY SAID WHERE THEY'RE GOING TO BE LOWER OR UPPER OR AT THIS POINT WE'RE STILL NEGOTIATING THE TERM SO WE HAVEN'T DETERMINED WHERE
WITHIN THE BUILDING THEY WOULD BE PLACED. MY MY CONTENTION WHEN WE FIRST THIS WAS FIRST APPROVED AND I THINK IT WAS SHARED BY ANOTHER MEMBER TOO WAS THAT THIS IS
SUCH PRIME REAL ESTATE. I MEAN THE OFFICE MARKET DOESN'T SUPPORT IT RIGHT NOW THERE OR THE BUILDING ITSELF AS IT IS DOESN'T SUPPORT THAT. BUT FOR MULTIFAMILY THAT'S PRETTY PRIME LOCATION COULD BE
GETTING TOP DOLLAR FOR THE UPPER FLOORS. SO JUST KIND OF CURIOUS WHETHER THE DEVELOPER OR THEY'RE KIND OF FEELING LOCKED IN BECAUSE OF PHASE ONE PHASE
TWO BUT WHAT CONSIDERATION FOR MAYBE NOT RIGHT THERE FOR THE AFFORDABLE HOUSING? THE OTHER QUESTION WHAT'S HAPPENING WITH THE OTHER ONE
THE BIG UNDERGROUND ARE BIG FOR APPLE APPLE SIX WAS IT SIX APPLE TREE SIX APPLE? IS THAT WHERE YOU'RE JUST GOING TO LEAVE IT LIKE THAT FOR A WHILE OR ARE COMMISSIONERS COMMISSIONER HUNT SO I BELIEVE THE FIRST
QUESTION WAS REGARDING THE PLACEMENT WITHIN THE BUILDING AND WHETHER OR NOT THAT WOULD BE A CONSIDERATION IN THE RENTS AT THIS POINT WHERE VERY
PRELIMINARY REALLY NEGOTIATING WITH THE DEVELOPER THAN TERMS . SO THEY RECENTLY JUST ACQUIRED THE BUILDING IN DECEMBER AND THEN APPROACHED CITY STAFF AND SAID WE KNOW THE DISTRICT IS
EXPIRING HERE IS A POTENTIAL OPTION THAT WOULD ALLOW US TO DEVELOP THE AFFORDABLE APARTMENTS AND WE'RE JUST INITIAL CONVERSATIONS ABOUT WHAT THAT WOULD LOOK LIKE.
SO THERE ARE FUTURE STEPS THAT NEED TO TAKE PLACE. SO I DON'T HAVE AN ANSWER FOR THAT RIGHT NOW BUT WE WILL CERTAINLY TAKE THAT INTO CONSIDERATION AND THEN THE SECOND QUESTION ABOUT SIX APPLE TREE SQUARE. SO THAT'S THE PROPERTY THAT IS
PRIVATELY OWNED THAT THEY WERE NOT ABLE TO NEGOTIATE TERMS OF ACQUISITION. SO MY UNDERSTANDING AT LEAST AS OF RIGHT NOW IS THAT PROPERTY WOULD REMAIN IN ITS CURRENT FORM.
SO IT'S A PARKING LOT. HOWEVER, IF THE BUDGET ALLOWED FOR IT WITHIN THE TIFF PLAN WE COULD CONSIDER PROVIDING SUBSIDY IF NEEDED FOR FUTURE HOUSING DEVELOPMENT ON THAT
SITE IF IN THE FUTURE THEY WERE ABLE TO NEGOTIATE SOME TERMS OF AGREEMENT. THANK YOU COMMISSIONER. ONCE I WAS VERY PLEASED TO SEE
THIS COME ABOUT. IT'S VERY CREATIVE AND IT AVOIDS A PROBLEM FOR ME BECAUSE I JUST WAS NEVER ON THE QUINN PROJECT ON THAT SITE
ON THE RIVER BLUFF. I NEVER THOUGHT IN ANY WAY, SHAPE OR FORM IT WAS THE HIGHEST AND BEST USE OR APPLICATION FOR THAT PIECE OF GROUND. SO I THINK THIS IS JUST TERRIFIC.
I AM AND I AM VOTING FOR IT AND I JUST WANTED TO COMMENT ON THAT. IS THERE ANY DISCUSSION HAVE THERE BEEN ANY DISCUSSIONS
IN ON WHAT THE QUINN'S SITE THE ORIGINAL QUINN'S SITE, THE ORIGINAL PHASE TWO SITE WHAT KIND OF HOUSING WOULD BE PUT ON THERE BECAUSE I'M ALL FOR AFFORDABLE HOUSING BUT THAT'S NOT THE RIGHT PLACE FOR IT.
IT JUST ISN'T. AND SO IS THERE BEEN DISCUSSIONS OR MARKET HOUSING GOING THERE? THERE ARE WHAT ARE COMMISSIONERS COMMISSIONER ALLEN'S AT THIS POINT GIVEN
THAT THE SITE IS PRIVATELY OWNED BY ANOTHER ENTITY THAT IS NOT ASSOCIATED WITH THE DEVELOPER AND THEY WEREN'T ABLE TO COME TO AN AGREEMENT? WE HAVEN'T HAD ADDITIONAL CONVERSATIONS ABOUT WHAT COULD
HAPPEN THERE. >> I'M LOOK IS THAT THE WHOLE SHE SHE REFERRED TO AS A WHOLE? >> CORRECT. OKAY. I'VE NEVER REFERRED TO IT AS THE WHOLE SO I WASN'T QUITE SURE WHAT YOU WERE TALKING ABOUT. IT IS A SURFACE PARKING LOT BUT IT'S JUST IN APPEARANCE
WISE IT JUST LOOKS LIKE A BIG I'M SURE IT'S IT'S SLIGHTLY BELOW GRADE FROM SO IT SLOPES SO THERE IS SOME CHALLENGES WITH THE SITE AND THE LOCATION BASED ON THAT AND SO YES, IT'S
RIGHT ON THE EDGE OF THE BLUFF AND IT'S GOT POTENTIAL A LOT I THINK. YES. WELL I THINK COMMISSIONER HAHN, SINCE YOU'VE RELOCATE TO THAT AREA, YOU ARE PROBABLY THE MOST KNOWLEDGEABLE
OF ANYBODY HERE ON THE PAR THREE COMMISSION. SO COMMISSIONER RUSTY THANK YOU, MR. PRESIDENT. TWO QUESTIONS FIRST, MAYBE I MISSED IT IN THE IN THE
DISCUSSION. WELL, IS THE PARKING RAMP GOING TO BE REBUILT? OH, GREAT QUESTION. MAYOR BUSSE AND COMMISSIONERS . SO THE PLAN WOULD BE FOR THE DEVELOPER TO REHABILITATE THE
PARKING RAMP. WE WOULD NOT BE PROPOSING TO PROVIDE ANY FINANCIAL ASSISTANCE FOR THAT JUST TO BE CLEAR. SO IT WOULD BE RESTRICTED FOR THE HOUSING DEVELOPMENT. THEY OWN PROPERTY THROUGHOUT
THE AREA AND SO THE PLAN WOULD BE FOR THAT RAMP TO BE REHABILITATED AND THEN BE UTILIZED BY MULTIPLE PROPERTIES. GOOD. I'M GLAD TO HEAR THAT BECAUSE THAT RAMP IS A DISASTER WHICH WE'VE ALL TALKED ABOUT OVER THE YEARS.
THE SECOND QUESTION I HAD SO THE SCHEMATIC THAT YOU SHOWED THESE ARE THESE ARE ACTUAL APARTMENTS. THESE ARE NOT SINGLE SRO IS CORRECT. CORRECT. THESE APARTMENT INDIVIDUAL APARTMENTS. OKAY. THAT'S GOOD TO KNOW BUT IT'S I APPRECIATE THE CREATIVE REUSE
OF THE OF THE OFFICE TOWER IN THIS WAY I THINK IT'S IT'S A GOOD WAY TO USE IT AND I THINK IT WILL IT WILL BE WELL RECEIVED ACTUALLY GIVEN THE LOCATION AND GIVEN THE SIZE OF THE APARTMENTS.
I THINK SO. THANK YOU, MR. SOLUTION SINCE SINCE YOU ASKED ABOUT THAT THE APPEARANCE AND SAY ARE THE FUNCTIONALITY OF THE RAMP, ARE THEY CHANGING THE APPEARANCE
OF THE THE THE TOWER ITSELF LIKE THE SHELL OF THE TOWER? COMMISSIONER HUNT I'VE ALSO HEARD COMMENTS SIMILAR TO MY RESPONSE TO YOUR OTHER QUESTION.
IT'S REALLY PRELIMINARY. WE HAVE HAD A COUPLE OF CONVERSATIONS ON IF THEY WOULD CHANGE ANY APPEARANCE IF THEY WOULD CREATE OPENINGS FOR EXAMPLE OR BALCONIES AT THIS
POINT THAT'S A POSSIBILITY BUT I WOULDN'T WANT TO COMMIT TO ANYTHING GIVEN WHERE WE ARE AT THE CONVERSATIONS SO ANY OTHER QUESTIONS? COMMENTS?
LANCE YEAH. I WAS JUST JUST CURIOUS QUESTION I'M SURE KEATING NEVER WANTED TO END UP WITH THIS KIND OF SOLUTION. HAVE THEY EVER DONE A MAJOR
READAPT OF USE LIKE THIS BEFORE FROM SOME OTHER COMMERCIAL USE TO HOUSING THAT YOU'RE AWARE? COMMISSIONER LANCE YES. THEY'RE WORKING ON A PROJECT IN ST PAUL. THE ECOLAB TOWER IS WHAT IT
WAS PREVIOUSLY KNOWN AS SO THE ECOLAB TOWER IT'S MY UNDERSTANDING THAT THEY'RE INVOLVED IN THAT PROJECT. YES. GREAT.
MR. OLSON THANK YOU. APOLOGIZE FOR BEING A LITTLE BIT LATE. CAN YOU SPECIFICALLY TELL ME WHICH PROPERTY THIS IS THAT THAT WE'RE TRYING TO ADD INTO
THE DISTRICT? COMMISSIONER NELSON OR COUNCILMEMBER NELSON THE PROPERTY THAT WE WOULD BE ADDING WOULD BE TWO PARCELS SO IT WOULD BE THE RIVERVIEW
OFFICE TOWER ITSELF AND THEN THE RAMP THAT IS PART OF THAT TOWER. SO AND I THINK I CAN GO BACK TO THAT SLIDE.
THANK YOU. APOLOGIZE . OH SO IT WOULD BE THE PROPERTY THAT'S IN BLUE THERE.
SO THAT'S ACTUALLY TWO PARCELS. IT'S SOMEWHAT HARD TO SEE HERE THE TOWER IS TOWARDS THE LEFT HAND SIDE AND THEN YOU CAN SEE THE PARKING STRUCTURE IS ON THE RIGHT IN THE UPPER PORTION
OF THAT BLUE SECTION. SO AND THEN MY MY OTHER QUESTION IS WHEN WE ORIGINALLY APPROVED THAT THERE WAS THE
MARKET RATE AND THEN THERE WAS THE IN LIEU FEE THAT YOU TALKED ABOUT THAT WOULD GO TOWARDS THE AFFORDABLE HOUSING . IS THERE A CHANGE TO THOSE
AGREEMENTS? COUNCILMEMBER NELSON IN REGARD TO THE IN LIEU FEE THAT WAS PAID BY THE DEVELOPER SO THEY TECHNICALLY HAD TWO YEARS TO
COMMIT THAT TO A DEVELOPMENT PROJECT. THAT TIMEFRAME EXPIRED IN AUGUST OF THIS YEAR SO THE CITY COULD TECHNICALLY ELECT TO USE THAT FOR ANOTHER DEVELOPMENT PROJECT.
IT'S NOT RESTRICTED TO THE AFFORDABLE HOUSING DEVELOPMENT HERE THE DEVELOPER HAS ASKED THAT WE WOULD COMMIT THOSE FUNDS TO THIS PROJECT AND THAT COULD BE IN THE FORM OF A GRANT.
IT COULD BE IN THE FORM OF A LOAN AND SO THAT WOULD BE PART OF WHAT WE WOULD BE DISCUSSING WITH THEM WOULD BE BRINGING BACK BEFORE HE OR BEFORE YOU WHEN WE'RE BRINGING A
FINANCIAL PROPOSAL AND THEN LAST QUESTION THIS IS NOT A FINAL DECISION. THIS IS JUST ALLOWING FOR FLEXIBILITY BETWEEN THE CITY AND THE DEVELOPERS THAT A FAIR CHARACTERIZATION?
COUNCILMEMBER NELSON THAT IS A GOOD CHARACTERIZATION HERE. YES. EXPANDING THE DISTRICT TO PROVIDE THE POSSIBILITY OF PROVIDING SUBSIDY ON THESE SITES IF WE CHOOSE TO DO SO. OKAY.
THANK YOU, COMMISSIONER. LET'S JUST ONE MORE QUICK QUESTION. WHO CAME UP WITH THE CONCEPT WAS A RESULT OF THE NEGOTIATING NOT THE NEGOTIATIONS NOT PROCEEDING LIKE THEY THOUGHT OR DID STAFF
COME UP WITH IT OR COMMISSIONER LUNTZ I WON'T TAKE CREDIT NOR DO I THINK ANY OF OUR STAFF TAKE CREDIT FOR THAT. IT'S MY UNDERSTANDING THERE WERE SOME CONVERSATIONS WITH
THE DEVELOPER ABOUT THIS POSSIBILITY IN THE PAST. IT WAS BEFORE MY TIME HERE SO I DON'T KNOW ALL THE HISTORY THERE. HOWEVER THEY DID APPROACH STAFF WITH THIS PARTICULAR
IDEA. WE CERTAINLY THOUGHT IT WAS A GREAT IDEA JUST GIVEN THE CONTEXT OF WHERE THE OFFICE MARKET IS AND THE FOCUS ON CONVERSION AND THE NEED FOR
HOUSING AND THE THE NEED TO REHABILITATE THE BUILDING AND THEN ALSO THE FACT THAT THE RAMP WAS DILAPIDATED. SO YES, THANKS.
ANY OTHER QUESTIONS? COMMENTS WE HAVE A MOTION ON PAGE 18 OF YOUR PACKAGE REGARDING THIS ITEM SO I WOULD
UNDERSTAND THAT MOTION SO MR. LET'S MOST WE HAVE A SECOND MOTION BUT SECONDED BY COMMISSIONER NELSON.
ANY FURTHER DISCUSSION IF NOT ALL IN FAVOR PLEASE SIGNIFY BY SAYING I I OPPOSED MOTION CARRIES SEVEN ZERO WE THEN HAVE THE SMALL BUSINESS
ASSISTANCE GRANT PROGRAM AND WE'RE GOING TO HAVE BARB GOOD EVENING PRESIDENT AND
COMMISSIONERS SO THIS EVENING YOU CAN GO RIGHT TO THE SECOND SLIDE. SO THIS EVENING AND WE'RE HERE
TO ASK SEEK APPROVAL TO ALLOCATE UP TO $400,000 FROM THE GENERAL FUND OF THE PORT AUTHORITY FOR THE ACCELERATED CREATION AND DEPLOYMENT OF A SMALL BUSINESS ASSISTANCE
GRANT PROGRAM, AN AUTHORIZATION TO ENTER INTO PARTNER AGREEMENTS FOR THE ADMINISTRATION OF SUCH A PROGRAM. SO A LITTLE BIT OF BACKGROUND FOR THIS PROGRAM THIS EVENING.
WE'RE ALL QUITE AWARE OF CURRENT CONDITIONS THAT HAVE BEEN HAPPENING DUE TO RECENT IMMIGRATION ENFORCEMENT ACTIONS.
AND SO SINCE 2025 TWO CURRENT AND YOU CAN GO AHEAD AND ADVANCE IT I CAN DO IT
. IT'S NOT MOVING AS I GO. SO WE WERE WELL AWARE OF THE IMMIGRATION ENFORCEMENT
ACTIONS AND THE NEGATIVE IMPACT THAT HAS HAD ON THE METRO AREA AND FAR REACHING OUTSIDE THE METRO AREA FOR EVERYONE INCLUDING SMALL BUSINESS OPERATIONS INCLUDING
HERE IN BLOOMINGTON. WE'VE HAD BUSINESSES THAT HAVE CLOSED AND WE ALSO HAVE BUSINESSES THAT HAVE CLOSED FOR A SHORT PERIOD OF TIME. THEY HAVE REDUCED WORKERS SO THEY HAVE REDUCED HOURS AND
REDUCED INCOME COMING IN REVENUES TO PAY THEIR OPERATIONAL EXPENSES. >> SO JUST A COUPLE OF STATISTICS OF THE RECENT
IMMIGRATION ENFORCEMENT ACTIONS. EACH ONE OF THESE IS FOR THE TWIN CITIES METRO AREA. SO LOOKING AT IMMIGRANTS ACCOUNT FOR 1 IN 7 ENTREPRENEURS AND BRING IN 600
MILLION IN BUSINESS INCOME ANNUALLY AND ALSO THOSE IMMIGRANT WORKERS AND IMMIGRANT BUSINESS OWNERS GENERATE 41 BILLION IN ECONOMIC OUTPUT IN MINNESOTA EACH YEAR. SO THE INITIAL REPORTING
THAT'S COMING OUT IS THERE HAS BEEN A DECREASE IN REVENUES BY BETWEEN 50 AND 100% IN THE AFFECTED AREAS WHICH INCLUDES BLOOMINGTON. SOME OF THESE BUSINESSES HAVE CLOSED ENTIRELY RESTAURANTS
THAT ARE IMMIGRANT OWNED AND PRIMARILY SERVICE IMMIGRANT CLIENTELE HAVE BEEN THE WORST HIT.
THE RESTAURANTS HAVE BEEN GREATLY HIT. SO SOME OF THE ACTIONS HAVE BEEN TAKEN BY STAFF. WE DO HAVE INTENTIONAL EFFORTS TO GO OUT AND DO MONTHLY
BUSINESS VISITS. SUNSET SALES OCCURRED. WE HAVE INCREASES TO WEEKLY BUSINESS VISITS. SO OVER THE PAST THREE WEEKS WE HAVE VISITED OVER 30 BUSINESSES IN-PERSON TALKING TO THEM AND OF COURSE SOME
WINDSHIELD TIME JUST OBSERVING BUSINESSES AND WHETHER THEY'RE OPEN OR NOT AND WHAT IS HAPPENING AT THEM. WILLMAR OUT THERE IT'S MORE ABOUT ASKING THE BUSINESS LIKE HOW ARE YOU DOING? JUST WANT TO STOP IN AND CHECK
HOW YOU'RE DOING. HOW IS THIS IMPACTED YOUR BUSINESS? WHAT ARE SOME OF THOSE IMPACT STORIES? SO WHEN I GO OUT THERE I'M ALSO GOING OUT THERE WITH ONE OF OUR BUSINESS ADVISORS
EXCUSE ME HIROMI YORK WITH NEXT STAGE. ANOTHER TIME WE WENT OUT WITH ALLAN ESTEVES. HE IS SPANISH SPEAKING SO HITTING IN SOME OF THE BUSINESSES SO THAT THERE'S A
BETTER FOR COMMUNICATION. WE HAVE HANDOUTS FOR HOUSING AND BUSINESS RELATED RESOURCES AND HERE'S JUST A COUPLE OF COMMENTS A CULTURALLY OWNED MARKET. ONE OF THEIR STAFF WAS TAKEN
FROM THEIR HOME IN EAGAN AND OTHER STAFF HAS STAYING AT HOME SO THE OWNER IS WORKING MORE HOURS. HE SHOWED ME HIS PHONE WITH TEXTS FROM CUSTOMERS SO HE'S DRIVING ORDERS TO PEOPLE'S HOMES WHEN HE'S ABLE TO DO SO
HE WAS REPLACED IN HAS PRODUCE AT THAT MOMENT ALL THE PRODUCE FROM THE PREVIOUS WEEK HAD GONE BAD BECAUSE HE DIDN'T HAVE CUSTOMERS IN AND WASN'T ABLE TO STOP HIS PRODUCE ORDERS FROM COMING IN.
ANOTHER RESTAURANT THAT'S IMMIGRANT OWNED CUSTOMERS ARE DOWN BY OVER 50%, HE SAID IT WAS PRETTY MUCH SIMILAR TO THE PANDEMIC AND THEY'VE REDUCED OUR HOURS TO TO EIGHT MONDAY
THROUGH SATURDAY WHEN THEY WERE PREVIOUSLY OPEN FOR LUNCH. AND THERE'S MANY OTHER STORIES FOR THAT WHEN WE'RE LOOKING AT THIS FOR THE SMALL BUSINESS ASSISTANCE GRANT THAT WE'RE
PROPOSING, THIS WOULD BE ONE TIME GRANT FUNDS UP TO $10,000 TO COVER TWO MONTHS RENT OR MORTGAGE PAYMENTS FOR A SMALL BUSINESS FOR ELIGIBLE BUSINESSES WHERE WE'RE LOOKING AT THE RENT OR MORTGAGE
PAYMENT WE'RE LOOKING AND DOING THIS UP TO 10,000. IT SPREADS MORE EQUITY AND FAIRNESS FOR THAT PAYMENT AS OPPOSED TO MULTIPLE THINGS THAT THEY COULD USE THE MONEY FOR AND ALSO CUTTING DOWN ON
THAT PAPERWORK THAT STAFF IS PROCESSING THE GRANTS WOULD BE FOR PROFIT BUSINESSES WITH LESS THAN 50 EMPLOYEES TO STICK WITH OUR SMALL BUSINESSES. THESE WOULD BE BRICK AND
MORTAR LOCATIONS WITH FOOT TRAFFIC RETAIL ON EXAMPLES WOULD BE RESTAURANTS, RETAIL STORES, SALONS, BARBERSHOPS, NAIL SHOPS THE GRAND SOME
SALES WOULD NOT BE EXEMPT. THEY MAY BE TAXABLE. SO WE'RE PROPOSING THAT THE RENT BE PAID DIRECTLY TO THE LANDLORD IF THEY CAN PROVE THAT THE RENTS ALREADY BEEN PAID THEN WE CAN REIMBURSE
THEM FOR THOSE MONIES. WE'RE HOPING THAT WITH IT BEING PRIMARILY FOR RENT THAT THEY'RE ABLE TO FREE UP THAT FUNDING FOR OTHER COSTS THAT THEY HAVE. STAFF WILL MANAGE A GRANT
APPLICATION PROCESS IN PARTNERSHIP WITH NEXT STAGE. THEY ARE OUR LENDING PARTNER AND THEY'RE ALSO OUR FIRST POINT OF CONTACT WITH OUR AGREEMENT WITH HOW TO BANK COUNTY AND THE ELEVATE THEM
PROGRAM. HERE'S OUR SHORT LINK FOR THE GRANTS. IT'S NOT OPEN YET. WE ANTICIPATE OPENING IT THIS FEBRUARY AND WE WOULD KEEP IT OPEN FOR TWO MONTHS AND PROCESS THE APPLICATIONS ON A
ROLLING BASIS. WE'RE LOOKING TO DO 200,000 TO START UP TO 400,000 TOTAL. SO WHEN WE'RE TALKING ABOUT THESE MONIES HERE'S OUR BUDGET HERE.
SO THE PORT BOARD IN NOVEMBER OF 2025 APPROVED OUR 2026 BUDGET AS PART OF THAT FUNDING FOR THE DIRECT BUSINESS ASSISTANCE 570,000 WAS ALLOCATED FOR THESE PROGRAMS
AND SO YOU'LL SEE OFF TO THE RIGHT HERE IN BOLD THESE ARE THE DOLLARS WHERE WE'RE LOOKING TO PULL THOSE MONIES
FROM MAY HAVE QUESTIONS AND SO BEFORE YOU AT THE DAIS YOU WILL SEE A DRAFT FORM OF THE
POLICY THE GRANT PROGRAM. IT GOES INTO MUCH GREATER DETAIL AND AS YOU MOVE TO PAGE FOUR AND THIS IS A DRAFT YOU
CAN SEE THE PROGRAM GUIDELINES GOES INTO MUCH GREATER DEPTH OF DETAIL ON WHAT THE ELIGIBLE USE OF FUNDS ARE IN ELIGIBLE USES ELIGIBLE BUSINESSES SORT
OF THE TERMS OF THE GRANT AND THE APPLICATION PROCESS. AND THEN AT THE BOTTOM THERE ARE SOME OF THE REQUIRED DOCUMENTATION THAT WE WOULD BE REQUESTING. ACTUALLY ALL THAT INFORMATION
WOULD GO TO THE NEXT STAGE AS OUR PARTNER FOR THE UNDERWRITING FOR APPROVAL OF THOSE GRANTS. AND SO WITH THAT I WILL STAND FOR QUESTIONS.
WELL I'M LOOKING HERE LOOKING AT THE PROGRAM OBVIOUSLY IT'S WITH THE TRAUMA THAT WE'VE HAD AND ALL THESE THINGS IT'S LIKE I'M VERY HAPPY THAT YOU'VE
COME UP WITH SOME PLAN TO DO SOMETHING. SO MR. HIRSCH, YOU HAD A QUESTION. THANK YOU FOR THE INFORMATION . HOW DOES A COUPLE QUESTIONS
HOW IS THE EXPERIENCE BEEN WITH THE NEXT STAGE SO FAR? YEAH. PRESIDENT COMMISSIONERS COMMISSIONER HUNT I CANNOT TELL YOU HOW GREAT IT'S BEEN
SO IN 2020 AS PART OF THE PANDEMIC AND PUTTING A PROGRAM TOGETHER WITH A FORMER PARTNER THAT WE HAD THAT WORKED GREAT AT THAT TIME. SINCE THEN WE'VE MOVED TO NEXT
STAGE. THEY HAVE BEEN EXTREMELY GIVING TO GO OUT INTO THE COMMUNITY WITH ME AND THE REPORTING AND THE FOLLOW UP. JUST AT THE END OF LAST YEAR WE CLOSED SIX LOANS
IN BLOOMINGTON. THEY'VE BEEN A FANTASTIC PARTNER FOR PROGRAMING AND SO HOW THAT WORKS ELEVATE HAD BEEN STARTED IN DECEMBER OF 2020 SO WE PARTNER AS A
COMMUNITY WITH HENNEPIN COUNTY THROUGH THAT GRANT AGREEMENT THAT WE HAVE WITH THEM WE HAVE A FIRST POINT OF CONTACT. SO AS PART OF THAT AGREEMENT WITH HENNEPIN COUNTY WE PAY
FUNDING FOR OUR FIRST POINT OF CONTACT PARTNER AND THAT'S NEXT STAGE. AND SO THAT AGREEMENT WE HAVE A TWO YEAR AGREEMENT 2025 THROUGH 2026. OKAY. WELL I HAVEN'T HAD A CHANCE TO
DIGEST THE HANDOUT TONIGHT. A COUPLE OF THINGS THAT I LIKED HEARING WAS THAT YOU WERE OUT IN THE FIELD AND WITH THEM AS A PARTNER. ONE OF THE MOST VALUABLE THINGS I ALWAYS FOUND AS A
LENDER WAS BEING ON SITE WHETHER IT WAS, YOU KNOW, A HALF MILLION DOLLAR BUSINESS, A $500 MILLION BUSINESS OR A YOU KNOW, $100,000 $100 MILLION PROJECT OUTSTATE WAS
JUST GOING TO SEE THE PROPERTY MEETING THE PEOPLE. SO I'M GLAD THAT YOU'RE DOING THAT. I ALSO LIKE SURPRISE VISITS AND THE WINDSHIELD VISITS BECAUSE IN ESPECIALLY YOU KNOW
SOME OF THE NEWS WE'RE HEARING YOU JUST THEN SEE MORE WHETHER THEY ARE OR NOT THEY KNOW YOU'RE VISITING. IT'S IMPORTANT WHAT YOU SEE THAT VISUAL AND WHAT YOU GET. SO THAT'S THAT'S A REALLY GOOD
THING. I LIKE HEARING THE PAYMENTS GOING DIRECTLY TO A LANDLORD DICTLY TO A MORTGAGE LENDER WOULD BE GOOD BECAUSE YOU WANT
AGAIN TO FREE UP THE OTHER CASH BUT YOU WANT TO KNOW WHERE THAT MONEY'S GOING AND THAT'S THE BIGGEST THING WHERE IS THE MONEY GOING? HOW IS IT BEING DOCUMENTED
AVOIDING ANY CHANCE FOR FRAUDULENT ACTIVITIES WHICH UNFORTUNATELY OUR STATE'S BECOME KNOWN FOR BUT EVERYTHING THAT WE CAN LOCK DOWN TO WHERE THAT MONEY IS GOING AND REALLY THE OTHER
THING ONE OF THE HARDEST THINGS AS A LENDER I ALWAYS FOUND WAS REMOVING THE EMOTION . YOU'VE GOT TO GO ON THE FACTUAL WHAT'S THERE SUPPORT YOU KNOW I HAD SHAREHOLDERS TO DEAL WITH WE HAVE THE CITY, WE HAVE OUR DUE DILIGENCE AND OUR
FUNDING AND OUR FIDUCIARY RESPONSIBILITIES BUT YEAH, EMPATHY BUT MAKING THE DECISIONS BASED ON THE FACTUAL AND WHAT YOU CAN SEE AND GATHER AND AND OUT SO IT'S A
NICE PROGRAM. IT'S A BENEFIT TO OUR OUR BUSINESSES SO BUT WITH THE ERA OF OKAY THIS IS JUST NOT A FREE OPEN TICKET IT'S THERE'S LEGITIMATE THINGS THAT WE'RE
LOOKING FOR AND AND WE WANT TO BE HERE TO HELP AND THANK YOU AND WITH THAT WITH THE PAPERWORK THAT WE'RE REQUIRING, THAT'S WHERE WE'RE GOING TO PUT IN SOME OF THOSE PARAMETERS THAT THEY'VE ACTUALLY BEEN AFFECTED AND WE'VE LEARNED A LOT.
I ACTUALLY WORKED ON THE 2020 PROGRAM DURING THE PANDEMIC AND PUTTING THAT TOGETHER AND SO WE LEARNED A LOT THROUGH THAT PROCESS AS WELL. THANK YOU.
MR. PETERSON THANK YOU. YOU KNOW, I LIKE THE FACT THAT IT'S THAT THAT KIND OF THE DOCUMENTATIONS BASED ON EXISTING SORTS OF THINGS THAT YOU'RE ALREADY THAT YOU'RE FILING SO LIKE KIND OF SHOWING
THE DECLINE IN REVENUE BASED ON THE SALES TAX FILING THAT YOU'RE HAVING TO DO. SO WE'RE PIGGYBACKING ON OTHER PROCESSES AND NOT CREATING SOME NEW FORM OR SOMETHING THAT THAT PEOPLE HAVE TO CREATE. YOU HAVE TO GO AND KIND OF COMPLETE IN ORDER TO DO
THINGS. I ALSO THINK IT'S IMPORTANT TO NOTE IS THAT WE'RE WE'RE SETTING A THRESHOLD OF A 30% DROP IN GROSS REVENUE WHICH IS A REALLY BIG DROP IN GROSS REVENUE FOR A BUSINESS. AND SO IT'S IT'S PRETTY CLEAR
TO ME THAT SOMEBODY WHO KIND OF MEETS THAT BAR IS HAVING A REAL SEVERE PROBLEM WITH THEIR BUSINESS. AND SO COMBINING THOSE THINGS TOGETHER, MAKING SURE THE MONEY'S GOING TO THE RIGHT
PLACE, I THINK IT'S A GOOD THING AND I'M GLAD YOU KNOW, GLAD WE'RE TAKING THE EXPERIENCES THAT WE HAD DURING THE PANDEMIC AND APPLYING THEM HERE. THANK YOU. THANKS. MR. LET'S YEAH BARBARA I THINK
YOUR MORE MECHANICAL QUESTIONS THAN ANYTHING THE FIRST SENSE IN THE PROGRAM PARTNERS IN TERMS OF PARTNER WITH BLOOMINGTON BASED I'M SORRY YEAH BLOOMINGTON MAYBE I READ
THIS WRONG WHAT CAME TO MIND WAS COLONIAL MARKET WHICH HAS THREE LOCATIONS AND HOW DO WE I MEAN THEY'RE ON LAKE STREET IN NORTH MINNEAPOLIS I GUESS I WAS JUST WONDERING ARE YOU THE
MONEY WOULD JUST BE AVAILABLE FOR THE BLOOMINGTON LOCATION? THAT WOULD BE CORRECT. COMMISSIONER ALAN OKAY. AND THEN SINCE WE'RE ALREADY PARTNERED SINCE THE PORTAL ALREADY PARTNERED WITH THE NEXT STAGE THIS IS GOING TO BE
A SEPARATE CONTRACT JUST A MECHANICAL SEPARATE CONTRACT. ARE YOU GOING TO BLEND THEM TOGETHER? THANK YOU FOR ASKING. PRESIDENT AND COMMISSIONERS COMMISSIONER LYONS WE WILL HAVE A SEPARATE PROFESSIONAL SERVICE AS AGREEMENT WITH NEXT
STAGE AND THE PORT AUTHORITY PART OF THAT WILL BE THERE WILL BE A SMALL AMOUNT OF FEES FOR ISSUING 1090 NINES BECAUSE THERE IS A COST ASSOCIATED
WITH THAT BUT THERE IS IF I REFERRED BACK TO THE PAPERWORK IN 2020 AND THE COST ASSOCIATED WITH THAT AT THAT TIME WAS $1,500 AND WE PROCESS MANY MORE GRANTS FORGIVABLE
LOANS AT THAT TIME THAN WE WILL BE DOING THIS TIME. SO IT'LL BE A SMALL FEE BUT YES TO DO THESE ADDITIONAL SERVICES FOR US WE WILL DO AN AGREEMENT.
AND JUST TO ADD TO THAT TOO WE ALSO WILL HAVE A GRANT AGREEMENT THAT WILL BE SIGNED BY THE APPLICANT AND THE LANDLORD THAT IS RECEIVING THE FUNDING AND THE CITY
OF BLOOMINGTON AS WELL. THE PORT AUTHORITY SPECIFICALLY I SEE COMMISSIONER NELSON AND I SEE COMMISSIONER BUSSE THANK YOU
PRESIDENT AND JUST A FEW QUESTIONS HERE JUST LOOKING THROUGH THE DETAILS ON THIS WOULD THERE BE A WAY I'M GOING TO GIVE A HYPOTHETICAL THAT
SAY A LANDLORD DIDN'T GET PAID RENT SO THEY HAD A DROP IN REVENUE AND THE BUSINESS THAT WAS LEASING THAT DIDN'T HAVE THE REVENUE TO PAY THE
LEASE THAT THERE COULD BE A DOUBLE DIP IN AND HOW DO WE PREVENT THAT IF WE PROVIDE FUNDING TO THE BUSINESS SO THAT THEY CAN PAY THE RENT,
HOW DO WE MAKE SURE THAT THE OWNER THE LESSEE DOESN'T THE LESSOR DOESN'T ALSO ASK FOR MONEY?
THANK YOU FOR THE QUESTION. I THINK I UNDERSTOOD IT WERE AWARE THAT SAY FOR A PARTICULAR STRIP MALL IF
THERE'S AN OWNER THAT OWNS THAT STRIP MALL THERE IS A POTENTIAL THAT THEY'RE GOING TO RECEIVE MULTIPLE FUNDING FROM THE BUSINESSES THAT WILL
BE GOING PAYING FOR THAT RENT BUT THEY WILL RECEIVE A 1099 FOR THAT FUNDING. WE'RE ALSO PUTTING SOMETHING INTO THE AGREEMENT THE GRANT AGREEMENT.
WE HAVEN'T WORKED OUT THE WORDING YET. I DO HAVE KENNEDY AND CRAVEN HERE THAT THE THE LANDLORD CANNOT JUST LIKE KICK OUT THE
BUSINESS EITHER THERE IS SOME SORT OF GOING ALONG WITH THAT LEASE IN THAT CONTRACT SO WE'LL WE'LL PUT SOME SUSPENDERS INTO THAT FOR WHAT THAT LOOKS LIKE.
THANK YOU BECAUSE I DO KNOW A LOT OF BUSINESS OWNERS ON THE BUILDING IN A SEPARATE COMPANY THINK AND COULD POTENTIALLY HAVE THE SAME LOSS AND ASK FOR
THE MONEY TWICE AND THAT'S MY CONCERN IF IF I COULD I NOT UNDER INELIGIBLE BUSINESSES IN THE LAYOUT HERE THE LAST BULLET SAYS BUSINESSES THAT DERIVE INCOME FROM PASSIVE INVESTMENTS BUSINESS TO BUSINESS TRANSACTIONS, REAL
ESTATE TRANSACTIONS, PROPERTY RENTALS OR PROPERTY MANAGEMENT AND SO ON. SO I THINK THAT PROBABLY COVERS IT AS AN ELIGIBLE BUSINESS. THANK YOU VICE PRESIDENT.
SO JUST A COUPLE MORE THINGS THE THAT IT'S THE DAY IT'S OUR JANUARY 30TH 1ST DECEMBER
THROUGH JANUARY 31ST. I MEAN WE'RE AT HER 17TH AND WE STILL HAVE THIS ONGOING AND WE DON'T KNOW ONE WAY IF IF
THEY'RE GOING TO LEAVE AND AND WHAT IT'S GOING TO BE AND ALL OF THAT ARE THOSE DO THOSE DATES MAKE SENSE? SECOND THING THAT I WOULD SAY IS THERE ARE BUSINESSES THAT
DO HONESTLY HAVE A 30% DROP IN THE WINTER AND AND IT WOULD BE SO WHAT I'M WONDERING ABOUT IS THIS COMPARABLE PERIOD LIKE IT DOES THAT GO BACK TO LET'S
SAY JANUARY TO JANUARY OR DOES IT GO TO FROM DECEMBER TO JANUARY NOVEMBER TO BECAUSE IT WOULD BE VERY EASY TO SAY HAD
A 30% DROP BUT SOME COMPANIES HAVE A 30% DROP EVERY WINTER BECAUSE OF WHATEVER THEY DO. YEAH. OR A ROLLING 12 MONTH YEAH OR SOMETHING LIKE THAT. I JUST I JUST WANT TO MAKE SURE WE'RE REALLY TIGHT ON THESE THINGS.
I DON'T MEAN TO GET INTO TOO MUCH MINUTIA BUT I JUST WANT TO MAKE SURE WE'RE TIGHT ON THOSE AND THEN I DO THINK THAT CUTTING OFF AT THE JANUARY 30TH 1ST MAY BE SOMEWHAT
PROBLEMATIC GIVEN THIS ISN'T DONE. OKAY. THANK YOU PRESIDENT AND QUESTIONS I APPRECIATE THE COMMENTS. COMMISSIONER NELSON I WILL
DISCUSS THAT WITH NEXT STAGE. ANOTHER PART OF THE APPLICATION ITSELF IS THE BUSINESSES DO NEED TO DESCRIBE HOW THE RECENT IMMIGRATION ENFORCEMENT HAS DIRECTLY IMPACTED THEIR BUSINESS
OPERATIONS AND REVENUE AND I THINK, YOU KNOW, COMMISSIONER HUNT'S COMMENT AS WELL JUST DOING SOME OF THESE SITE VISITS AND HAVING DISCUSSIONS
WE'VE HAD A LOT OF DISCUSSIONS ABOUT THIS AND DISCUSSING WITH THE PORT AUTHORITY ADMINISTRATOR SOME OF THESE SITE VISITS WE MAY HAVE TO DO AS PART OF THE APPLICATION PROCESS TO IS DOING THE SITE
VISITS BUT THANK YOU FOR THAT DUE DILIGENCE ON IT. I JUST WANT TO MAKE SURE WE GET TO THE MONEY. WE GET AS MUCH MONEY TO THE PEOPLE THAT REALLY NEED IT AS POSSIBLE. AND THEN MY LAST QUESTION ALONG THOSE LINES IS THERE ARE
OTHER ENTITIES PARTICULARLY IN THE STATE OF MINNESOTA THAT'S LOOKING AT PROGRAMS WHAT IS OUR POSITION AND HOW ARE WE LOOKING AT CROSSOVER? SO IF THEY GOT MONEY FROM THE STATE COULD THEY ALSO GET
MONEY FROM THE CITY? HOW WOULD WE HOW WOULD WE BALANCE THAT IF THEY ALREADY HAD A FUNDING SOURCE TO HELP THEM THROUGH THIS?
YOU KNOW THIS THE SITUATION? YEAH. HOW WOULD HOW DO WE BALANCE THOSE THINGS IF WE'RE GETTING MONEY FROM ANOTHER SOURCE INSTEAD OF MULTIPLYING THOSE SOURCES? SURE.
PRESIDENT COMMISSIONERS COMMISSIONER NELSON WE HAVE THAT DISCUSSION AS WELL. THERE ARE TWO FUNDS THAT ARE AVAILABLE RIGHT NOW THE MINNEAPOLIS FOUNDATION FUND WHICH WE HAVE HEADQUARTERED BUSINESSES HERE IN BLOOMINGTON
THAT HAVE CONTRIBUTED TO THAT AND THE SALT CARE RECOVERY FUND WHICH IS SPECIFIC FOR RESTAURANTS. BOTH OF THOSE FUNDS WOULD BE ALLOCATED ARE OUR BUSINESSES IN BLOOMINGTON ARE ELIGIBLE
FOR THEM AS LONG AS THEY MEET THE CRITERIA. OUR DISCUSSION IS IS THAT WE DON'T CARE IF THEY DO GET ADDITIONAL FUNDING AS LONG AS IT IS A BLOOMINGTON BASED BUSINESS AND THEY FOLLOW OUR
PARAMETERS AND ELIGIBLE ELIGIBILITY, WE'D LIKE TO GIVE THEM THE FUNDING. IF THERE'S OTHER DISCUSSION FROM THE PORT BOARD WOULD BE HAPPY TO ENTERTAIN THAT AND
AND THOUGHTS ON THAT QUESTION DO YOU WANT TO OKAY GO AHEAD. IF YOU HAVE A SUMMIT WITH ONLY A TWO MONTH WINDOW, HOW IS THAT INFORMATION BEING DISSEMINATED TO THE BUSINESSES?
I MEAN I'VE HEARD A LOT ABOUT THE BOOKS ON GROUND UP FOR SALE YOU'RE DOING WHICH IS GREAT. BUT HOW DO YOU KNOW THAT YOU'RE REACHING ALL THE NECESSARY BUSINESSES PRESIDENT AND COMMISSIONERS WE DON'T I
MEAN IT'S WITH ANY PROGRAM AND ANYTHING THAT WE DO HERE IN THE BUSINESS IN OUR IN OUR BUSINESS COMMUNITY THERE'S NO WAY OF KNOWING WHETHER WE REACH ALL THE BUSINESSES. WE DON'T DO BUSINESS LICENSING
HERE OR ANYTHING EQUIVALENT THAT WE WOULD KNOW THAT WE'VE REACHED ALL BUSINESSES. WE WILL CONTINUE TO USE OUR PROMOTION THAT WE HAVE AND USE
OUR COMMUNITY PARTNERS. I KNOW WE HAVE AN EMAIL LIST THAT HAS 2500 EMAILS ON IT FOR OUR BUSINESS COMMUNITY BUT IT'S ALSO MAKING FLIERS AND
BOOTS ON THE GROUND AGAIN IN 2020 WE HAD ZERO RELATIONSHIP WITH OUR BUSINESS COMMUNITY AND SO WE'VE BEEN DOING THESE EFFORTS OVER THE PAST FIVE YEARS. IT'S JUST GOING TO BE SPREADING.
THE WORD IS AS MUCH AS WE CAN. ONE OF THE THINGS THAT WE FOUND IN 2020 IS THE REGULAR FORMS OF COMMUNICATION THAT WE MIGHT THINK MIGHT WORK OUR BUSINESS COMMITTEE THAT'S NOT HOW THEY GET THEIR INFORMATION
. EVERYBODY GETS IT IN A DIFFERENT WAY. WE HAVE A LOT OF DIFFERENT CULTURES AND DIFFERENT LANGUAGES AND SO THAT FACE TO FACE CONTACT IS THE BIGGEST WAY TO SPREAD THE WORD AND LOOKING AT OUR EIGHT PRIORITY
COMMERCIAL NODES THAT ARE THE RETAIL LOCATIONS IS A GREAT START. THANK YOU. MR. BOSSIE THANK YOU, MR. PRESIDENT. I WOULD AGREE WITH THE SENTIMENTS OF COMMISSIONER
HUNT HERE AND SECRETARY COMMISSIONER NELSON ABOUT MAKING SURE THAT WE HAVE THIS AS LOCKED DOWN AS WE POSSIBLY CAN. I THINK FROM A PRACTICAL STANDPOINT BUT ALSO FROM A
VISION STANDPOINT THAT IT LOOKS AS LOCKED DOWN AND IS AS CAREFULLY ADMINISTERED AS POSSIBLE. I THINK THAT'S VERY IMPORTANT AND TO MAKE THAT KNOWN WHAT WE'RE DOING AND HOW WE'RE
DOING IT AND THE CARE THAT WE'RE PUTTING INTO IT. I THINK ALSO IT'S IMPORTANT TO TO STRESS THAT THIS IS NOT NEW MONEY, THIS IS EXISTING MONEY AND TO REALLOCATE THIS MONEY IN THIS WAY MAKES PERFECT SENSE.
THERE'S NO SENSE IN HAVING A FACADE IMPROVEMENT PROGRAM IF THERE'S NOT A BUSINESS IN THAT WAY. SO I THINK IT MAKES PERFECT SENSE TO TO BRING THIS $400,000 IN FROM OTHER SOURCES TO TO MAKE THIS WORK AND AGAIN TO MAKE THAT KNOWN BECAUSE
THAT WILL BE MISINTERPRETED I THINK BY BY SOME ABOUT WHERE THIS MONEY'S COMING FROM AND THE FOLKS WHO ARE GOING TO BE BENEFITING FROM IT. SO THOSE ARE MY COMMENTS. THE ONE QUESTION I HAD AGAIN LOOKING AT THE LIST
OF INELIGIBLE BUSINESSES IT DOES SAY SOMETHING ABOUT CORPORATE CHAINS, MULTI-STATE CHAINS AND FRANCHISES. AM I CORRECT IN UNDERSTANDING MOST FRANCHISES ARE LOCALLY OWNED, ARE THEY NOT?
I MEAN ARE PAPA JOHN'S IS YES, IT'S A NATIONAL FRANCHISE BUT IT'S OWNED BY A LOCAL BUSINESS OWNER. IS THAT CORRECT? >> PRESIDENT COMMISSIONERS, COMMISSIONER BUSSE YES, THAT COULD BE CORRECT.
SO WE MIGHT WANT TO JUST LOOK FOR WAYS TO MITIGATE THAT IN SOME WAY IF IT'S IF IT'S A A LOCALLY OWNED FRANCHISE WITH SOMEONE BEING IMPACTED, I THINK WE MIGHT WANT TO CONSIDER ADJUSTING THE LANGUAGE IN SOME WAY TO MAKE
SURE THAT WE DON'T MISS OUT ON THOSE. THANK YOU. THANK YOU. I THINK COMMISSIONER HUNT WAS MAKING A POINT. YOU KNOW IF THERE'S MULTIPLE GRANTS A PART OF THE
APPLICATION PROCESS SHOULD BE TO ASK THEM ARE THERE OTHER GRANTS THAT THEY HAVE RECEIVED OR EXPECT TO RECEIVE AND THINGS BECAUSE WHAT WE'RE TRYING TO DO IS TO STRETCH THIS MONEY AS FAR AS WE CAN
AND YOU KNOW WITH MOST OF THESE PEOPLE PROBABLY THIS MONEY IS NOT GOING TO TAKE AND BRING THEM ABOVE THE LINE. BUT AT THE SAME POINT IN TIME I THINK IT'S IT'S JUST GOOD
PRACTICE TO JUST CHECK AND SEE WHAT THE AGGREGATE THAT THEY'RE LOOKING AT GETTING AND AND AGAIN JUST MAKE SURE THAT HAPPENS. OTHER QUESTIONS, COMMENTS IF
NOT WE'VE GOT A MOTION ON PAGE 43 REGARDING THIS THIS I WOULD ENTERTAIN MR. PRESIDENT I WOULD MOVE TO ADOPT A RESOLUTION APPROVING THE SMALL
BUSINESS ASSISTANCE GRANT PROGRAM. ALL RIGHT. SO CAN'T WE HAVE A MOTION MADE BY COMMISSIONER BEASLEY SECONDED BY COMMISSIONER NELSON ANY FURTHER DISCUSSION ? NOT ALL IN FAVOR PLEASE
SIGNIFY BY SAYING I. I OPPOSED MOTION CARRIES SEVEN ZERO. >> THANK YOU. WELL YOU KNOW I THINK ONE OF THE THINGS THAT ALL THE
WORK THAT YOU'VE DONE AND WE'VE DONE WITH SMALL BUSINESSES HELP US PUT THIS IN PLACE SO I MEAN AGAIN THIS IS IT'S A VERY DIFFICULT TIME
IN THAT BUT I MEAN AGAIN, SOME OF THE WORK THAT HAS BEEN DONE HAS PREPARED FOR THIS. SO THANK YOU FOR YOUR EFFORTS THERE AND YOU KNOW THESE ARE NEVER EASY AND YOUR HEART JUST
GOES OUT TO THESE PEOPLE. I MEAN I WE HAVE CLEANING SERVICE AND THEY HAVEN'T COME THE LAST COUPLE OF TIMES BECAUSE THEY'RE AFRAID TO COME OUT. IT'S JUST I MEAN TERRIBLE. SO ANYWAY SO THANK YOU.
THANK YOU. THANK YOU. OKAY NEXT ITEM THEN IS WE'RE GOING TO GET SOME FINANCIALS
PRELIMINARY BUDGET ADJUSTMENTS YOU OH GOOD EVENING. YEAH SO WE'LL BE TAKING A LK AT THE 2025 PRELIMINARY FINANCIALS AND THE BUDGETS ON THE NUMBERS ARE STILL
PRELIMINARY AT THIS POINT SO THEY COULD STILL BE UPDATED SLIGHTLY AS WE WORK THROUGH THE CLOSING OUT 2025. DO YOU HAVE THE PRESENTATION
? WE DO HAVE? YEAH. OKAY. OKAY. SOUNDS GOOD. OKAY SO WE'LL START LOOKING WHAT THE GENERAL FUND FIRST.
SO IF WE LOOK AT THE 2025 CURRENT BUDGET SORRY CAN YOU TELL US WHAT PAGE WE'RE ON THEN? OH YEAH ON PAGE 50. OKAY.
THANK YOU . >> OKAY SO LOOKING AT THE CURRENT BUDGET WE HAD PROPERTY TAXES BUDGET FOR 2.5 MILLION.
THEY CAME IN SLIGHTLY UNDER BUDGET AT 2.2 MILLION 454,000. WE HAD OTHER REVENUE OF $300,000. THIS WAS A TRANSFER BACK FROM
THE CITY BACK IN 2020 FOR THE PORT HAD TRANSFERRED 300,000 FOR THE CONSTRUCTION. THE SMALL BUSINESS CENTER BUT THAT WAS TRANSFERRED BACK IN 2025. >> SO THAT WAS JUST A ONE TIME
TRANSFER. THERE WAS A $35,000 GRANT FROM HENNEPIN COUNTY FOR THE FACADE PROGRAM WHICH HAD NOT ORIGINALLY BEEN BUDGETED
IN RELATION TO THE HATCH BLOOMINGTON PROGRAM THERE WAS $50,000 OF CONTRIBUTIONS FROM THE STEARNS BANK AND BLOOMINGTON TRAVEL AND TOURISM AND THEN THERE WAS ALSO
$30,188 OF INTEREST INCOME SO THE TOTAL BUDGETED REVENUE WAS 2,850,000 AND ACTUAL WAS 2,869,000.
LOOKING AT EXPENSES OVERALL THE TOTAL BUDGET EXPENSES WAS 2,196,000. THE ACTUAL IS QUITE A BIT LESS AT 1,351,000.
THE ONE AREA THAT WAS OVERBUDGET WAS SALARIES, WAGES AND BENEFITS AND THAT'S RELATED TO THE ALLOCATION OF SALARIES WE START THE SALARY ALLOCATIONS BUDGET
IN MAY OF LIKE 2024 AND WE HAD ESTIMATED A LITTLE BIT MORE GOING TOWARDS THE TWO FUNDS BUT LESS WAS BILLABLE TO 12 AND MORE GOT BILLED TO THE GENERAL FUND SO SALARIES WAS
OVER BUDGET BY JUST UNDER 82,000 ALL THE OTHER CATEGORIES WERE UNDER BUDGET. THERE WAS 300,000 BUDGET FOR THE SMALL BUSINESS CENTER
WHICH DIDN'T GO THROUGH. THE OTHER BIG ONES WERE CASH BLOOMINGTON WHICH WAS AWARDED IN 2025. BUT THERE WILL NOT BE PAID OUT
UNTIL 2026 AS THE BUSINESSES SPELLED OUT. THERE WAS ALSO THE RETENTION PROGRAM FOR 90,000 WHICH WAS NOT SPENT ON THE FACADE
PROGRAM UNDERSPENT BY ABOUT 102,000 AND COMMERCIAL NO CITY OUTSPEND ANY OTHER BUDGET THIS YEAR EITHER.
SO OVERALL WE HAD PLANNED FOR A SURPLUS OF 653,000. THE ACTUAL SURPLUS WAS 1,518,000 AND SO THE PRELIMINARY ENDING FUND
BALANCE IS 1,942,000 FOR THE FUND AND SO WE ARE ASKING FOR A COUPLE OF BUDGET ADJUSTMENTS. THE FIRST IS THE $35,000 GRANT
WE GOT FROM HENNEPIN COUNTY. WE ARE REQUESTING ADJUSTMENT TO INCREASE THE REVENUE AND EXPENSE FOR THE FACADE PROGRAM FOR THAT 35,000 AND THEN ALSO ASKING TO REALLOCATE SOME
OF THE UNSPENT BUDGET FOR THE SMALL BUSINESS CENTER TO THE SALARIES AND THEN WE ARE ALSO ASKING TO CARRY FORWARD SOME
OF THE UNSPENT BUDGET NEW AND 2026 THERE WE ARE LOOKING TO ADD A WORK STUDY INTERN FROM THE UNIVERSITY OF SAINT THOMAS WHICH WOULD BE AN ADDITIONAL
18,000 FOR THE WAGES FOR 2026. WE ARE REQUESTING THAT UNSPENT MONEY FOR THE FACADE PROGRAM BE ROLLED OVER INTO 2026 AND
SAME FOR THE BUSINESS RETENTION PROGRAM. WE ARE REQUESTING THAT THAT 90,000 BE ROLLED FORWARD AND THEN ALSO THE HATCH
BLOOMINGTON BUDGET OF 100,000. THE CONTRACT WITH MOTHER WAS SIGNED IN JANUARY OF THIS YEAR SO THAT WILL START TO GET PAID
OUT RELATIVELY SOON . AND IF WE GO TO PAGE 51 THIS IS JUST SHOWING THE 2026 CURRENT BUDGET AND THEN SHOWING WHAT IT WOULD LOOK
LIKE IF WE ADDED THE CARRYOVER AMOUNTS FOR THE WORK STUDY AND TURN THE FACADE PROGRAM, THE BUSINESS RETENTION PROGRAM AND
THE HATCH BLOOMINGTON SUMMARY OF ALL THE ADJUSTMENTS AND THINGS THAT YOU'RE REFERRING TO IN THE MOTION ARE REALLY ON PAGE 50. YUP, 50 AND 51 BECAUSE WE
WOULD ALSO BE ADJUSTING THE 2026 BUDGET BECAUSE WE WOULD TAKE SOME OF THE UNSPENT 2025 BUDGET AND ROLL IT FORWARD INTO 2026. SO THE ADJUSTMENTS YOU SEE ON
PAGE 51 FOR THE 2026 BUDGET IS BASICALLY THE REDUCTION WE'RE MOVING UP FROM 2025 TO 2026. WELL IT'S INTERESTING TO LOOK
AT THIS FOR SO MANY YEARS WE HAD A GENERAL FUND BUDGET OF ABOUT $50,000 AND NOW WE'RE DEALING WITH A LITTLE BIT MORE BECAUSE OF THE LEVY AND THINGS. BUT ANY QUESTIONS FOR MARY KAY
ON THIS? I THINK THEIR OWN. MR. NELSON YEP. THANK YOU PRESIDENT AND I SAY SECRETARY NELSON YEAH THANK YOU APPRECIATE THE UPGRADE OR
WHATEVER IT IS SO MY QUESTION IS RELATED TO THE SPECIFIC PROGRAMS THE FACADE THE RETENTION IS THE REASON THAT WE DIDN'T SPEND THAT MONEY ON
LACK OF DEMAND OR OR A LACK OF OUR ABILITY TO GET THE MONEY OUT THE DOOR. ARE THERE PENDING APPLICATIONS? I GUESS THAT'S A BIG OTHER PENDING APPLICATIONS ALREADY
THAT WE JUST NEED TO FUND OR DO WE JUST NOT HAVE ENOUGH PEOPLE SIGN UP FOR IT? >> YEAH THE FACADE PROGRAM IN PARTICULAR IS VERY POPULAR AND I KNOW THERE ARE PENDING
APPLICATIONS FOR THAT. IT TAKES A WHILE TO GO THROUGH THE APPLICATION PROCESS AND THEY HAVE TO DO THE WORK BEFORE THEY GET REIMBURSED. SO IT DOES TAKE A WHILE TO MOVE THROUGH THE PROCESS BUT I
KNOW BARB HAS QUITE A FEW OF THOSE AND I APPRECIATE IT AND THE REASON I ASK IS IN GENERAL I'M NOT A BIG FAN OF JUST ROLLING IT OVER BECAUSE WE DIDN'T SPEND IT BUT
IF WE DIDN'T SPEND IT JUST BECAUSE IT'S STILL WORKING THROUGH THE PROCESS THEN I CAN BE OKAY WITH THAT AND I JUST WANT TO MAKE SURE THAT THAT IS THE SITUATION AND NOT JUST
THAT WE DIDN'T SPEND IT. WE'D LIKE TO JUST KEEP IT IN OUR BUDGET SO WE COULD USE IT FOR SOME. >> THANK YOU PRESIDENT COMMISSIONERS AND COMMISSIONER NELSON.
SO THE PROGRAM HAS RUN FOR TWO YEARS SO FAR 2024 AND 2025 AT THE TIME THAT WE APPROVE THE FUNDING FOR THE APPLICANT THEY SIGN A GRANT AGREEMENT AND THEY HAVE 12 MONTHS TO COMPLETE THE WORK AND TO
SUBMIT RECEIPTS TO US AND REIMBURSE THEM SO WE HAVE COMPLETED ALL OF THEM FOR 2024 IN 2025 ALL OF 2025 WILL BE COMPLETED IN 2026.
SO THIS IS THE TIMING ISSUE. OKAY. THANK YOU. APPRECIATE THE CLARIFICATION. OTHER QUESTIONS COMMENTS GO AHEAD. MARY KAY WITH YOUR
PRESENTATION OR YEAH, JUST ON PAGE 52 IT HAS THE SOUTH LOOP SPECIAL REVENUE FUND AND THIS IS WHAT USED TO BE A GENERAL FUND A COUPLE OF YEARS AGO BEFORE OPERATIONS WENT
CITYWIDE. SO THIS IS JUST SPECIFIC TO SOUTH LOOP SO THE BUDGET THAT REVENUE WAS $894,000 WHICH IS A TRANSFER AND FROM THE CITY'S
SOUTH THE FUND BECAUSE EXPENSES ARE SO FAR UNDER BUDGET WE ONLY TRANSFERRED IN 750,000 SO WE DIDN'T NEED THE FULL TRANSFER.
THERE WAS INTEREST INCOME OF 5490 BUT ALL THE CATEGORIES HERE WERE UNDER BUDGET SALARIES ARE PRETTY CLOSE ABOUT 12,000 13,000 UNDER
BUDGET MATERIAL SUPPLIES AND SERVICES WAS UNDER BUDGET BY 104,000. THAT WAS MOSTLY PROFESSIONAL SERVICES THAT WE HAD PLANNED PARTLY FOR THE WATER PARK AND JUST OTHER PROFESSIONAL
SERVICES THAT WE DIDN'T NEED AND THEN SUPPORT SERVICES WAS CLOSED TO BUDGET. YEAH SO THIS FUND NO BUDGET
ADJUSTMENT REQUESTS PRETTY CLOSE TO BUDGET RIGHT. QUESTIONS FOR MARY KAY IF NOT WE HAVE A MOTION ON PAGE 48 TO
APPROVE THE BUDGET ADJUSTMENTS. I WOULD ENTERTAIN THAT MOTION FOR OH I'M SORRY IT'S IN BOTH PLACES.
MY APOLOGIES IF THAT'S THAT'S THE PRESENTATION. WELL OKAY. YOU CAN DO IT WITH EVERYONE YOU WANT. I THINK PROBABLY. BUT WHICH LOOKS LIKE COMMISSIONER PETERSON'S READY
FOR THE SPRING. THANK YOU. SO JUST JUST ONE COMMENT BEFORE I MAKE THE MOTION. I THINK THE IN GENERAL THE I'M
I'M I'M SUPPORTIVE OF DOING CARRYOVERS WHERE THE LEADERS HAVE TAKEN A LOOK AT THINGS AND SAID HEY, THIS MAKES SENSE TO MOVE IT FORWARD FROM A TIMING PERSPECTIVE THE CONCERN
I ALWAYS HAVE IF YOU HAVE A POLICY WE SAY WE'RE NOT GOING TO DO CARRY FORWARD IS THAT PEOPLE GET IN KIND OF A USE IT AND LOSE IT MODE AND THEY'RE LOOKING AT THE BUDGET AND THEY'RE SAYING I THERE'S SOME RESOURCES THERE AND THEY GO
BUY SOMETHING OR SOMETHING LIKE THAT ON A PROSPECTIVE BASIS THINKING THAT THEY THAT THEY'RE GOING TO USE IT AND I THINK IT'S AS LONG AS LONG AS WE'RE LOOKING CAREFULLY AT THINGS AS WE BRING THEM FORWARD AND SAYING HEY, THIS
MAKES SENSE LIKE TO THE POINT THAT OUR ESTEEMED SECRETARY DOWN HERE BROUGHT UP THAT IT'S A TIMING THING FOR EXAMPLE THAT'S A GOOD THING TO DO BUT
I ALWAYS THINK THAT I RESIST SECOND GUESSING THINGS LIKE THIS AND SAYING WE'RE NOT GOING TO DO CARRYOVERS BECAUSE IT WE WILL NEVER KNOW IF THE MONEY JUST GETS SPENT HEY,
WE'RE GOING TO GO USE IT UP AND USE IT OR LOSE IT STARTS TO TAKE INTO INTO PLAY BECAUSE WE DON'T GET WE DON'T GET VISIBILITY OF OF KIND OF SPENDING AT THAT LEVEL AND OUR LEVEL HERE AND SO SO WITH
THAT I'LL MOVE THAT THAT WE APPROVE THE 2025 AND 2026 BUDGET ADJUSTMENTS FOR THE PORT AUTHORITY GENERAL FUND IF WE HAVE A SECOND SECOND BY
COMMISSIONER NELSON ANY FURTHER DISCUSSION IF NOT ALL IN FAVOR PLEASE SIGNIFY BY SAYING I I OPPOSE MOTION CARRIES SEVEN ZERO. GOOD.
THANK YOU RICK. ALL RIGHT ON TO THE WORK PLAN. HOLLY, ARE YOU GOING TO SPEAK? I AM. THANK YOU. I'VE BEEN SITTING HERE SO
QUIETLY AFTER WE HAVE TO RELISH YOUR THOUGHT AS I SPEAK THIS FOR A WHILE. YES. WELL, THANK YOU, PRESIDENT ERICKSON AND COMMISSIONERS. WE HAVE A WORK PLAN TO PRESENT YOU TONIGHT.
WE WILL ALSO HAVE AN ANNUAL REPORT TO PRESENT TO YOU IN MARCH. BUT WE'RE GOING TO KEEP THIS ONE BRIEF AND IT SHOULD ALL LOOK VERY FAMILIAR TO YOU BECAUSE WHEN YOU APPROVED OUR BUDGET YOU WERE BASICALLY
APPROVING OUR PLANS FOR THE COMING YEAR. SO THAT WILL BE GET PUT UP ON THE SCREEN SHORTLY BUT IT IS ALSO IN YOUR PACKETS. THERE WE GO. ALL RIGHT.
AND THEN MARGARET, I'M GOING TO JUST HAVE YOU ADVANCE THE SLIDES FOR ME. THANK YOU. NEXT SLIDE PLEASE .
I SEE IT ALL RIGHT. I ALWAYS LIKE TO REMIND YOU OF THE BASIS THAT WE ARE LOOKING AT THIS ALL FROM OUR MISSION WHICH WE ADOPTED
EARLIER LAST YEAR IS THAT THE PORT AUTHORITY CULTIVATES COMMUNITY PROSPER CITY AND QUALITY DEVELOPMENT THE BOLD VISION AND RESPONSIBLE PUBLIC INVESTMENTS WE CONTRIBUTE TO THE GROWTH AND SUCCESS OF BLOOMINGTON'S INCLUSIVE AND
RESILIENT ECONOMY AND THE PORT HAS GROWN ALONG A LOT IN THE LAST FEW YEARS ESPECIALLY SINCE IMPLEMENTING A LEVY AND MOVING CITY WIDE. WE NOW HAVE FOUR DISTINCT
GROUPS DOING WORK HERE INCLUDING REAL ESTATE AND DEVELOPMENT, BUSINESS ASSISTANCE, WORKFORCE DEVELOPMENT AND CREATIVE PLACEMAKING. AND THEN WE DO OUR WORK ALSO IN SUPPORT OF THE CITY'S
BLOOMINGTON TOMORROW TOGETHER PRIORITIES OF A CONNECTED AND WELCOMING COMMUNITY AND A COMMUNITY WITH EQUITABLE ECONOMIC GROWTH. NEXT SLIDE PLEASE.
AND SO AS WE LOOKED AT OUR 2026 WORK PLAN, WE WANTED TO MAKE SURE WE HAD SOME GUIDING PRINCIPLES. ONE IS SIMPLY TO EXECUTE STRATEGIES AND ACTIVITIES LAID OUT IN THE ECONOMIC DEVELOPMENT STRATEGIC PLAN.
WE ALL SPENT A LOT OF TIME TOGETHER WORKING ON THAT AND INCLUDED A NUMBER OF STAKEHOLDERS IN ITS CREATION. WE HAVE OUR FOUR GUIDING PRINCIPLES AND EIGHT OBJECTIVES WITH A NUMBER OF STRATEGIES BENEATH THEM.
AND SO WE WILL CONTINUE TO REFER BACK TO THAT THROUGHOUT THE YEAR AS WE TAKE ON DIFFERENT PROJECTS. WE ALSO NEED TO BE RESPONSIVE TO MARKET CONDITIONS, DEVELOPMENT INQUIRIES AND
COMMUNITY NEEDS. WHAT YOU JUST SAW THIS EVENING WAS ALL RESPONSIVE TO DEVELOPMENT AND WELL MARKET CONDITIONS. WE HAD TO CHANGE WHAT WE WERE DOING WITH THAT TO PLAN
COMMUNITY NEEDS. WE NEEDED TO CHANGE THE GRANT FUNDS THAT WE WERE PLANNING TO OFFER TO THE COMMUNITY THIS YEAR. AND SO THE PORT WILL ALWAYS IN ORDER TO BE OF ASSISTANCE TO THE DEVELOPMENT COMMUNITY
OR THE BUSINESS COMMUNITY CONTINUE TO USE THAT PRINCIPLE OF BEING RESPONSIVE. WE OF COURSE WANT TO BE RESPONSIBLE STEWARDS OF PUBLIC RESOURCES IF WE ARE HERE TO ASSIST A BUSINESS OR DEVELOPER
WE'RE GOING TO USE ARE ABOUT 40 ASSETS AND WE ARE GOING TO ASK THE TYPES OF QUESTIONS YOU WERE ASKING THIS EVENING AND THEN PROVIDE EXCELLENT CUSTOMER SERVICE. I KNOW THAT IS A POINT OF PRIDE FOR THE PORT
AUTHORITY STAFF IN PARTICULAR TO REALLY HELP THE BUSINESS COMMUNITY THINK OF BLOOMINGTON AS AN EXCELLENT PLACE TO DO BUSINESS AND WE WANT TO REPRESENT THE CITY WELL. AND SO THIS THIS WORK PLAN IS
SUPPORTED BY THE 2026 BUDGET WAS WHICH WAS APPROVED BY THE PORT AUTHORITY IN 2025. NEXT SLIDE PLEASE. SO WE'LL GO QUICKLY THROUGH
OUR FOUR WORK AREAS. THE FIRST IS REAL ESTATE AND DEVELOPMENT. AGAIN, THIS WAS WHAT THE PORT DID EXCLUSIVELY FOR VERY LONG TIME. SOME OF OUR THEMES AND PRIORITIES ARE OF COURSE TO BE
RESPONSIVE TO THE MARKET AND DEVELOPMENT INQUIRIES. WE GET A RANGE OF DEVELOPMENT INQUIRIES LARGE AND SMALL. YOU WOULD ACTUALLY BE VERY INTERESTED TO HEAR SOME OF THEM. I WON'T BRING THEM UP TODAY BUT MAKING SURE THAT WE'RE
GIVING EVERYONE TIME BUT ALSO BEING VERY FRANK WITH DEVELOPMENTS THAT AREN'T GOING TO WORK SO WE DON'T WASTE ANYONE'S TIME. TOURISM PROJECTS IN THE SOUTH LOOP AREA CONTINUE TO COME TO
US AND BE OF INTEREST. THEY ALMOST ALL HAVE SOME SORT OF ASK OF THE CITY SO WE'RE VETTING THOSE CAREFULLY. AND THEN THE OPPORTUNITY HOUSING ORDINANCE SUPPORT THE PORT'S WORK ON OUR INCLUSIONARY ZONING POLICY AND
YOU'LL BE HEARING MORE ABOUT THAT IN MARCH OF THIS YEAR. WE ARE GOING TO START REALLY DIGGING INTO OUR COMMERCIAL NODES REDEVELOPMENT STRATEGY AND COMMERCIAL NODES TOOL KIT AND THAT WILL BE
CROSS-DEPARTMENTAL WORK. YOU'LL SEE SOME INTERESTING COLLABORATE ACTION FROM OUR CREATIVE PLACEMAKING TEAM HERE AS WELL AS PLANNING AND OTHERS IN OUR COMMUNITY DEVELOPMENT TEAM.
AND THEN THEY WILL CONTINUE THIS TEAM THEIR RELATIONSHIP BUILDING WITH ACTIVITIES LIKE THE BROKER BREAKFAST UNDERSTANDING AND ADVOCATING FOR REGIONAL, STATE AND FEDERAL FUNDING FOR DEVELOPMENT.
THIS TEAM TENDS TO BE THE ONE THAT WORKS ON GRANTS WITH MET COUNCIL, THE DEED AND OTHERS OR FEDERAL GRANTS AS WELL TO HELP SUPPORT BUSINESSES
GROWING AND EXPANDING HERE. AND THEN WE WILL ASSIST WITH BUSINESS EXPANSION REQUESTS AND THERE ARE A NUMBER OF OPERATIONAL IMPROVEMENTS THAT THIS TEAM IS WORKING ON
INCLUDING CLEANING UP OUR OWN GRANT PROCESS AND OUR FILES AS WE'VE HAD. AND YOU KNOW WHEN YOU HAVE SEVERAL ONE PERSON RUNNING THINGS FOR A LONG TIME THEY GET IN THERE, THEY'RE RIGHT AND WE'RE MOVING THINGS
AROUND. SO WE'RE TRYING TO MAKE MAKE THE MOVE TO SHAREPOINT. I KNOW IT'S VERY EXCITING. OKAY. NEXT SLIDE PLEASE. ALL RIGHT.
BUSINESS ASSISTANCE. AND THEN I ALSO PUT BUSINESS RETENTION EXPANSION AND ATTRACTION. SO WHEN WE TALK ABOUT BUSINESS ASSISTANCE WE'RE TYPICALLY TALKING ABOUT BARB'S TEAM WORKING A LOT WITH SMALL
BUSINESSES. THE BRT WORK TENDS TO HAPPEN AT A LARGER SCALE BUT REALLY WE'RE ALL IN THE PORT DOING BUSINESS ASSISTANCE. SO SOME OF OUR PRIORITIES THIS YEAR INCLUDE ALWAYS CUSTOMER
SERVICE AND YOU'LL SEE THIS AGAIN RESPONSIVE PROGRAMING IF THE COMMUNITY NEEDS A FAST GRANT PROGRAM WE ARE GOING TO GET IT DONE. AND THEN PARTNERSHIP CULTIVATION WE ARE CONSTANTLY WORKING WITH NEXT STAGE
GREATER MSP DID THE MINNESOTA TRADE OFFICE ETC. WE DON'T DO THIS WORK ALONE. HENNEPIN COUNTY IS A GREAT PARTNER OF OURS. AND SO MAKING SURE WE'RE IN CONSTANT CONTACT WITH THOSE PARTNERS TO MAKE SURE WE
UNDERSTAND ALL THE PROGRAMS AVAILABLE AND WHO TO CALL IF A BUSINESS NEEDS SOMETHING, WE ARE GOING TO START SOME NEW PROGRAMS SOME THE BLOOM AND GROW PROGRAM WHICH WILL BE A NETWORKING AND TECHNICAL ASSISTANCE PROGRAM HERE CEO
ROUNDTABLE MENTORSHIP PROGRAM AND THEN WE'LL BE WORKING WITH FINANCE ON THEIR PURSUIT OF A LOCAL PURCHASING PROGRAM. YOU'LL HEAR MORE ABOUT THAT LATER IN THE YEAR. WE HAD EVAN HERE COUPLE
OF MONTHS AGO TO TALK ABOUT THAT AS WELL. WE WILL ALSO YOU JUST SAW THE SMALL BUSINESS ASSISTANCE GRANT AND THEN WE'RE WORKING ON SAC GRANTS AND DEFERRALS FOR THE CITY SAC PROGRAM AND
OTHER POTENTIAL LOAN PROGRAMS AS TIME GOES ON. WE'LL CONTINUE OUR ELEVATE HENNEPIN REFERRALS. WE HAVE PROGRAMS AT THE ZAWADI CENTER AND WITH OTHER PARTNERS .
HATCH BLOOMINGTON. WILL HAVE AN ANNOUNCEMENT ABOUT HOW WE'RE GOING TO LOOK AT DELAYING THAT IN A LITTLE BIT. CEO START AND CEO BOOTCAMP WHICH ARE TECHNICAL ASSISTANCE PROGRAMS AND THEN BLOOMINGTON
ECONOMIC PARTNERSHIP WHICH IS STARTED OUT AS THE WORKFORCE PARTNERSHIP AND NOW WE DO QUARTERLY PROJECTS AND TOPICS WITH A GROUP OF LARGE EMPLOYERS, HIGHER ED
INSTITUTIONS AND ECONOMIC DEVELOPMENT PARTNERS. WE WILL CONTINUE OUR FACADE IMPROVEMENT GRANTS AND OUR BUSINESS RETENTION PROGRAM AS WELL AS OUR ANNUAL BUSINESS FORUM WHICH STARTED LAST YEAR
AND OUR CEO SUMMITS. AND THEN WE'LL BE WORKING WITH COMMUNICATIONS. DID THE TRADE OFFICE GREATER MSP TO PROMOTE BLOOMINGTON AS A PLACE TO DO BUSINESS AND THAT COULD RANGE FROM DOING
CLOSE TO HOME VIDEOS TO SENDING MAYOR BASIE TO GERMANY TO TALK ABOUT BLOOMINGTON. SO THAT'S A WIDE RANGE OF PROMOTION THAT WE DO. AND THEN IN OUR OPERATIONS
HERE WE ARE IMPLEMENTING THE CRM WHICH YOU LEARNED ABOUT I THINK IN DECEMBER. NEXT SLIDE PLEASE. WORKFORCE DEVELOPMENT THAT'S ONE OF OUR NEWEST AREAS.
WE MADE WORSE THAN A POSITION PERMANENT OVER THE LAST YEAR AND THEN WE ARE SHE SHE'S GOING TO BE WORKING ON STREAMLINING THE BLOOM IN BLOOMINGTON INTERNSHIP PROGRAM WHICH IS OUR YOUTH INTERNSHIP PROGRAM PLACES BLOOMINGTON YOUNG PEOPLE WITH
BLOOMINGTON EMPLOYERS. SHE IS ALSO GOING TO BE SPENDING TIME ON EXPANDING OUR WORKFORCE DEVELOPMENT ECOSYSTEM AND CONNECTIONS SO REALLY UNDERSTANDING WHAT WE ARE FINDING TO BE A VERY
COMPLICATED WORLD OF WORKFORCE DEVELOPMENT BETWEEN THE STATE THE COUNTY NONPROFITS AND MANY OTHER PARTNERS THERE ARE A LOT OF PEOPLE WHO WORK IN THIS
SPACE AND SO WE WANT TO BE ABLE TO WHEN A BUSINESS CALLS US AND ASK US QUESTIONS BE ABLE TO SAY TALK TO WORSEN. SHE KNOWS ALL OF THESE PEOPLE. SHE CAN HELP YOU GET TO WHAT YOU NEED FASTER.
WE WILL BE STARTING A BLOOM A COMMUNICATIONS CALENDAR FOR THE BLOOM PROGRAM THAT CAN BE REPEATED FROM YEAR TO YEAR. WE ARE LUCKY THAT WE RECEIVED A DEED USE AT WORK GRANT THIS
YEAR BUT THAT ALSO REQUIRES SIGNIFICANT COMPLIANCE SOME WILL TAKE SOME TIME TO WORK ON AND THEN WE'LL BE CONTINUING OUR WORKFORCE DEVELOPMENT NETWORKING AND THEN ANOTHER PROJECT THAT WE WOULD LOVE
EVERYONE'S HELP WITH ALL THE TIME IS RECRUITING EXTERNAL EMPLOYERS INTO THE BLOOM PROGRAM. NEXT SLIDE PLEASE. AND IN CREATIVE PLACEMAKING
AND ALEJANDRO WILL BE HERE NEXT MONTH TO PRESENT HER WORK PLAN IN GREATER DEPTH SO YOU CAN SEE MORE ABOUT THE PROJECTS. I KNOW HER PRESENTATIONS TEND TO BE MORE VISUAL SO I'M SORRY
TO MISS IT BUT SHE WILL BE WORKING ON IMPLEMENTING THE CITYWIDE CREATIVE PLACEMAKING PLAN THAT WAS APPROVED IN 2025 AND OF THEME OF THEM FOR THIS YEAR IS TO REALLY BUILD PARTNER CAPACITY TO EXPAND
PROGRAMING REACH NOW THAT THEY HAVE GONE CITYWIDE THEY STILL ONLY HAVE TWO STAFF SO THERE'S A LIMIT TO WHAT THEY CAN ACCOMPLISH IN ANY GIVEN YEAR. SO THEY'RE REALLY TRYING TO WORK WITH PARTNERS TO TEACH THEM HOW TO DO WHAT THEY DO.
THEY WILL BE WORKING ON A COMMUNITY HEALTH AND WELLNESS CENTER MURAL PALM DAKOTA MISSION PARK SCULPTURE A PLANNING FOR ACTIVATION OF A VACANT LOT TO THE SOUTH OF SICK AND THEN AN UPDATED
ARTS IMPACT STUDY AND AN ART SPACE FEASIBILITY STUDY AND MORE TO COME. BUT THAT'S ABOUT ARTIST HOUSING AND WE'RE VERY EXCITED TO HAVE THAT INTERNAL COLLABORATION IN THE PORT TO LOOK AT THAT AND THEN THEY
WILL CONTINUE TO BE WORKING ON BRYANT PARK'S SCULPTURE THAT WILL BE MADE OF STONE. IT'S VERY COOL IF YOU HAVEN'T SEEN IT YET. AND THEN PARTICIPATING IN EVENTS AND THEY WILL ALSO BE WORKING ON OPERATIONAL
IMPROVEMENTS ALONGSIDE US INCLUDING THAT WONDERFUL MIGRATION TO SHAREPOINT. NEXT SLIDE AND IN THE ADMINISTRATION PART WILL CONTINUE.
I WILL CONTINUE TO SUPPORT THE DIFFERENT PORT WORK GROUPS AND CALL UPON YOU AND OTHER PARTNERS IN THE COMMUNITY TO ASSIST US. WE'LL BE UPDATING A LOT OF OUR INTERNAL PORT POLICIES AS THE
CITY UPDATES POLICIES OR COMPONENT UNIT OF THE CITY BUT WE DO NEED TO MATCH THE CITY'S POLICIES. SO WHETHER THAT'S PROFESSIONAL DEVELOPMENT, TRAVEL, PUBLIC PURPOSE EXPENDITURE POLICIES
ETC. ADA COMPLIANCE IS A BIG ONE FOR THIS YEAR. DIGITAL ADA COMPLIANCE ACTUALLY AND THEN WE WILL CONTINUE BUILDING OUR BUSINESS COMMUNITY RELATIONSHIPS. THAT'S CERTAINLY SOMETHING WE
ALL DO IN THE PORT AND WE INVITE YOU TO DO TOO. IF YOU HEAR OF A BUSINESS MOVING IN AND YOU WANT US TO MAKE CONTACT WITH THEM WE WANT TO KNOW ABOUT IT. YOU'RE NEVER BOTHERING US SO WE'RE ALWAYS TRYING TO PROACTIVELY BUILD THOSE
RELATIONSHIPS. WE ARE IMPROVING OUR DATA TRACKING AND REPORTING. YOU SAW OUR LARGE EMPLOYER DATABASE THAT ELLEN STARTED BUILDING OUT A FEW MONTHS AGO AND WE'RE CONTINUING TO STAY ON TOP OF THAT.
SHE'S ALSO PART OF A TEAM AT GREATER MSP THAT'S LOOKING AT REGIONAL ECONOMIC INDICATORS AND YOU'LL BE HEARING ABOUT THAT NEXT MONTH AS WELL. WE CONTINUE TO ENGAGE IN LEGISLATIVE EFFORTS
TRACKING LEGISLATION AND MOVING OUR OWN AGENDAS FORWARD AS WE NEED TO AN ECONOMIC DEVELOPMENT AND THEN ALWAYS OUR OWN OPERATIONAL IMPROVEMENTS IN THE SAME VEIN
AS THE OTHER WORKGROUPS. NEXT SLIDE PLEASE. AND WITH THAT I WILL HAPPILY TAKE YOUR QUESTIONS BEFORE PUTTING OUT THIS MOTION TO APPROVE THE WORK PLAN.
QUESTIONS FOR OUR ADMINISTRATOR JOHN HOW LONG, EVERYBODY? MR. NELSON NOTHING.
I MEAN AS SECRETARY I WOULD THINK YOU WOULD HAVE SOME. OKAY. I CAN COME UP WITH QUESTIONS IF YOU WANT. >> JUST THANK YOU WHILE YOU'RE OH, I CAN ANSWER THAT FOR YOU
IF YOU'D LIKE. COMMISSIONER LUNS AND COMMISSIONERS I WAS GOING TO SAVE THAT FOR MY ADMINISTRATOR UPDATES BUT I'M HAPPY TO. NO, NO, NO. WHY DON'T WE HEAR OKAY.
OKAY. SO I WOULD ENTERTAIN THE MOTION ON PAGE 55 OF YOUR PACKAGE TO APPROVE THE 2026
PORT AUTHORITY WORK PLAN. SECOND MOTION WAS THAT COMMISSIONER NELSON? YES. SECONDED BY COMMISSIONER BUSSE. ANY FURTHER DISCUSSION? NOT ALL IN FAVOR PLEASE
SIGNIFY BY SAYING I. I OPPOSED MOTION CARRIES SEVEN ZERO. OKAY HOLLY OKAY WELL ON TO OUR LAST ITEM OF THE EVENING AND THANK YOU, PRESIDENT ERICKSON
AND COMMISSIONERS FIRST A FEW DATES TO NOTE THE NEXT CEO ROUNDTABLE IS FEBRUARY 26TH. THE MAYOR HOSTS THOSE WITH SOME OF OUR LARGEST EMPLOYERS. WE USUALLY INVITE ABOUT 20 OF OUR LARGEST EMPLOYERS AND
THEY HAVE A PRETTY FREE FLOWING DISCUSSION AND SO WE'RE EXCITED TO SEE THAT THAT'S BECOME QUITE POPULAR AND THEY'RE LOOKING TO MEET ALMOST QUARTERLY AT THIS POINT. SO YEAH, LET'S DO YOU HAVE ANY
COMMENTS YOU'D LIKE TO MAKE ABOUT THAT MAYOR YEAH, I AGREE IT IS. IT'S AN INTERESTING FREE FLOWING DISCUSSION. IT'S I THINK A DISCUSSION THAT
CAN ONLY BE HAD WHEN CEOS OF BIG COMPANIES GET TOGETHER. I MEAN IT'S INTERESTING THE PERSPECTIVES THAT THEY SHARE AND THE OPPORTUNITY THAT THEY HAVE TO TALK JUST ABOUT A VARIETY OF DIFFERENT TOPICS. IT'S IT'S IT'S INTERESTING TO
BE A FLY ON THE WALL AND JUST TO SIT AND LISTEN TO THEM. SO DEFINITELY WORTHWHILE AND I THINK WE'VE SEEN SOME DEFINITE BENEFITS TO IT. GREAT. ALL RIGHT.
MARCH 10TH YOU'LL BE YOU HAVE BEEN INVITED TO A CONCURRENT MEETING THERE. WE'RE NOT VOTING ON ANYTHING AT THIS MEETING SO WE DON'T TECHNICALLY NEED QUORUM BUT WE'D STILL LIKE TO KNOW IF
YOU'RE GOING TO BE THERE. PLEASE RSVP TOMORROW IT THE TWO TOPICS ARE THE COMPREHENSIVE PLAN AND THAT'S THE ONE THAT'S REQUIRED OF MET COUNCIL AND SO THE PLANNING TEAM WILL BE KICKING THAT OFF AND WE'RE ACTUALLY GOING TO
HAVE AN ECONOMIC DEVELOPMENT CHAPTER FOR THE VERY FIRST TIME. AND SO WE WELCOME YOU TO BE THERE, LEARN ABOUT IT AND SHARE YOUR IDEAS BACK WITH US AS TO WHAT SHOULD BE INCLUDED
AND THEN AN OPPORTUNITY HOUSING ORDINANCE UPDATE ABOUT THE RECENTLY COMPLETED NEXUS STUDY. SO LOOKING AT THE MARKET DEMAND FOR FORECLOSING HERE AND HOW OUR POLICY SHOULD MATCH IT SO PLEASE TELL MORE
IF YOU'RE GOING TO BE THERE OR NOT BE THERE MOSTLY FOR SEATING BECAUSE IT'S ACTUALLY GOING TO BE CONCURRENT WITH THE HRA, THE CITY COUNCIL, THE PORT AND THE SUSTAINABILITY COMMISSION AND PLANNING.
SO THERE WILL BE A LOT OF PEOPLE HERE. ALL RIGHT. AND THEN IN MARCH YOU'LL HAVE YOUR REGULAR PORT MEETING AND YOU'RE GOING TO GET I ACTUALLY MENTIONED SEVERAL THINGS THAT
YOU'LL YOU'LL BE HEARING SO I'M NOT GOING TO DIG MUCH INTO THAT. AND THEN ON MARCH 24TH YOU SHOULD HAVE BEEN INVITED TO THE 700 AMERICAN RIBBON CUTTING FOR THE ROSLYN, WHICH
IS A PROJECT THAT'S BEEN COMPLETED OVER BY ARI RIGHT. ALL RIGHT. HATCH I ALLUDED TO WE ARE LOOKING TO DELAY THE LAUNCH BY
ONE MONTH IF NOT LONGER. WE'RE HEARING A SENTIMENT THAT TRYING TO ENCOURAGE BUSINESSES TO OPEN WITH ONE SINGULAR LARGE AWARD IS NOT WHAT THE COMMUNITY NEEDS RIGHT THIS
MINUTE. IT'S MORE IMPORTANT TO BE SUPPORTIVE OF THE EXISTING OPEN BUSINESSES. SO WE ARE CURRENTLY FOCUSING OUR OUR EFFORTS ON GETTING THAT SMALL BUSINESS ASSISTANCE LOAN OUT AND THEN WE'LL
REASSESS WHAT WE DO WITH HATCH OVER TIME. OKAY. ANY QUESTIONS ABOUT THAT? OH, IF I COULD JUST ADD FROM A
CALENDARING STANDPOINT STATE OF THE CITY IS THE THURSDAY, MARCH 12TH. WE HOPE TO SEE YOU ALL THERE MISS MY MARCH DATES WELL FOR
THAT TO YOU ALL MARCH 12TH OVER LUNCH. >> THANKS. VERY GOOD. ALL RIGHT. AND THEN I MENTIONED THAT THE PORT'S LONGTIME ATTORNEY JULIE EDINGTON IS RETIRING. SO IF YOU I KNOW SOME OF YOU COMMUNICATE WITH HER REGULARLY
SO BE SURE TO CONGRATULATE HER ON HER EXCELLENT CAREER. AND THEN GINA FIORINI WE EXPECT TO BE TAKING OVER OUR BOND WORK BUT IT COULD BE OTHER ATTORNEYS AT Q TECH ROCK AS WELL AND THEN I WILL BE
STARTING PARENTAL LEAVE LATE NEXT WEEK SO I'LL BE GONE FOR THREE SOLID MONTHS AND THEN PHASING BACK IN AND DURING THAT TIME KEVIN IS
KEVIN KINNEY'S ASSISTANT PORT AUTHORITY ADMINISTRATOR WILL BE LEADING THE PORT MEETINGS AND WILL ALSO BE OUR LIAISON TO THE CITY COUNCIL. SO MARK WILL CONTINUE TO SUPPORT BUT IF YOU HAVE PARTICULAR QUESTIONS YOU CAN
DIRECT THEM TO KEVIN OR TOMORROW AT I'M GOING TO BE FORWARDING MOST OF MY COMMUNICATION TO MARGARET AS WELL SO JUST MAKING SURE THAT NOTHING FALLS THROUGH THE CRACKS. KIM BERGGREN WILL, WHO IS OUR
COMMUNITY DEVELOPMENT DIRECTOR WILL BE TECHNICALLY THE ACTING PORT DIRECTOR. SO FOR FINAL SIGN OFF ON CONTRACTS AND ANY MAJOR EXPENSES SHE'LL BE TAKING CARE
OF THAT AS WELL. AND THEN BARB WOLF AND ALLIE PELINKA AS ARE OTHER TWO SUPERVISORS IN THE PORT WILL BE MANAGING OUR INTERNAL MEETINGS, SUPERVISOR MEETINGS, INTERNAL COMMUNICATIONS ETC.
SO YOU ARE WELL TAKEN CARE OF WHILE I AM GONE AND THEN I WILL BE BACK IN JUNE.
HOLLY WE REALLY WANT TO EXTEND TO YOU OUR SINCERE HOPE THAT THE WHOLE PROCESS OF BRINGING A NEW BEING IN IS SMOOTH AND I
MEAN THAT'S PROBABLY AN OXYMORON BUT AT ANY RATE WE KNOW THAT YOUR LIFE IS GOING TO CHANGE AND WE HOPE THAT YOU KNOW, YOU YOU'LL HAVE A VERY
UNIQUE PERIOD OF TIME AS YOU ADJUST TO THIS NEW ENTITY. SO AND WE JUST HOPE EVERYTHING GOES WELL AND WE WILL MISS
HAVING YOU AND AGAIN LOOK FORWARD TO THEN WE CAN CELEBRATE YOUR RETURN AND AND MAYBE YOU CAN EVEN BRING THE NEW EDITION ALONG AND SHOW OFF.
SO ANY OTHER QUESTIONS OR COMMENTS IF NOT NAMES PICKED UP? I ASKED HER DO THEY KNOW WHAT IS BOY OR GIRL AND SHE SAID
NO. >> SO THEIR LIFE DOESN'T HAVE ENOUGH FUN SURPRISES. SO THIS IS A FUN SURPRISE. YEAH, WELL THAT'S GREAT. OKAY, WELL IF NOTHING ELSE VERSION.
>> THANK YOU ALL. THANK YOU