, IT'S 515. WE HAVE A QUORUM SO I'LL CALL THE MEETING TO ORDER AND I UNDERSTAND THAT COMMISSIONER PIERSON IS GOING TO JOIN US
REMOTELY. VOISIN OKAY. OKAY SO WHAT WE NEED TO DO THEN IS HAVE A ROLL CALL SO
MARK , DO YOU WANT TO CALL THE ROLL HERE? THE PRESIDENT PRESIDENT
PRESIDENT SAY HERE MR. PETERSON IS HERE WHERE I'M HEARING BOB BUT NOBODY ELSE. PLEASE REMEMBER TO TURN ON YOUR MICROPHONES WHEN WE DO
ROLL CALL COMMISSIONER PETERSON. I AM HERE. OKAY. WE HAVE SIX COMMISSIONERS
PRESENT ARE. THE FIRST TIME ON THE AGENDA IS THE COMMISSIONER OATH OF OFFICE OFFICE .
THANK YOU. I CYNTHIA HUNT DO SOLEMNLY SWEAR THAT I WILL SUPPORT THE CONSTITUTION OF THE UNITED STATES AND OF THE STATE OF MINNESOTA AND FAITHFULLY DISCHARGE THE DUTIES OF THE OFFICE OF THE PORT AUTHORITY
OF THE CITY OF BLOOMINGTON IN THE COUNTY HENNEPIN AND STATE OF MINNESOTA TO THE BEST OF MY JUDGMENT AND AND COMMISSIONER HUNT AND WE'RE
VERY HAPPY THAT YOU ARE CONTINUING ON AND PROVIDING YOUR SAGE ADVICE AND MANY THINGS. SO WE WILL LOOK FORWARD TO YOUR CONTINUED PARTICIPATION.
THE NEXT ITEM IS INTRODUCTION OF THE NEW EMPLOYEE ALL RIGHTS. GOOD EVENING COMMISSIONERS WHERE VERIZON WOULD YOU LIKE TO COME JOIN US AT THE PODIUM
OR ON OUR TOWN IS OUR NEW BLOOM FACILITATOR A TEMPORARY ONE YEAR POSITION HERE WITH THE PORTS? I'M GOING TO READ A BRIEF AND THEN LET HER INTRODUCE HERSELF. ORSON IS A DEDICATED FOR COMMUNITY DEVELOPMENT, YOUTH
EMPOWERMENT AND EQUITABLE POLICY. SHE EARNED HER BACHELOR'S DEGREE IN POLITICAL SCIENCE WITH A MINOR IN BIOLOGY FROM SAN DIEGO STATE UNIVERSITY WHERE SHE DISCOVERED HER PASSION FOR POLITICAL AND
YOUTH LEADERSHIP THROUGH HER ROLE IN ASSOCIATED STUDENTS GOVERNMENT. MORISON'S PROFESSIONAL JOURNEY INCLUDES OVER THREE YEARS WITH YOUTH WILL, A YOUTH LED ORGANIZATION IN SAN DIEGO FOCUSED ON CREATING A REGION
WHERE YOUNG PEOPLE CAN THRIVE. SHE ALSO SERVED AS A CO-VICE CHAIR SAN DIEGO COUNTY'S HUMAN RELATIONS COMMISSION WHERE SHE CHAMPIONED TO ADDRESS SYSTEMATIC DISPARITIES. WILSON HAS CONTRIBUTED TO
COMMUNITY EMPOWERMENT EFFORTS AS A MEMBER OF COFFMAN, A MINNEAPOLIS BASED INITIATIVE SUPPORTING SOMALI WOMEN'S MENTAL HEALTH AS A BOARD MEMBER OF THE GLOBAL ACTION RESEARCH CENTER ENSURING UNDERREPRESENTED ARE PART
OF TRANSFORMATIVE RESEARCH AND DIALOG. IN 2024 WILSON COMPLETED HER MASTER OF PUBLIC POLICY AT UC SAN DIEGO SCHOOL OF GLOBAL POLICY AND STRATEGY SPECIALIZING IN PROGRAM DESIGN
AND EVALUATION AN AMERICAN AND COMPARATIVE BUSINESS REGULATION AND SHE'S THE FIRST WOMAN IN HER FAMILY TO ACHIEVE THIS MILESTONE AND BRINGS AN AND DATA INFORMED APPROACH TO HER WORK IN COMMUNITY ADVOCACY
AND DEVELOPMENT. SHE IS NOW BASED IN BURNSVILLE AND A FUN FACT IS THAT SHE LOVES EXPLORING THE OUTDOORS AND SPENDS FREE TIME ENJOYING PARKS, LAKES AND HIKING TRAILS.
WELCOME WELL, WELCOME AND I HAD THE PLEASURE OF MEETING AT A ROTARY MEETING. YOU DID A VERY NICE JOB PRESENTING AND IN SO IT'S GOOD TO SEE YOU AGAIN.
IS THIS ON? YEAH. THANK YOU SO MUCH AND THANK YOU FOR HAVING ME. AS YOU AGAIN KNOW, I WILL BE OVERSEEING OUR BLUE IN BLOOMINGTON PROGRAM AND AS SOMEBODY WHO HAS WORKED WITH
YOUNG PEOPLE SINCE I WAS HIGH SCHOOL, HONESTLY I TUTORED MIDDLE SCHOOLERS WHEN I WAS IN HIGH SCHOOL AND CONTINUED HIGH SCHOOL AND COLLEGE STUDENTS WHEN I WAS IN COLLEGE AND THEN AFTER THAT I WORKED WITH A YOUTH ORGANIZATION SO I
FEEL LIKE WORKING WITH YOUNG PEOPLE IS A LIFELONG JOURNEY FOR ME AND I LOVE WORKING WITH THEM BECAUSE THEY'RE VERY CREATIVE, SMART INNOVATIVE INDIVIDUALS. SO I LOOK FORWARD TO WORKING
WITH YOUNG PEOPLE OUR EMPLOYER PARTNERS AS WELL AS ALL OUR PARTNERS AROUND IN OUR PROGRAM AND CONTRIBUTE IN CICERO, BLOOMINGTON, THANK YOU SO
MUCH. THANK YOU AND WELCOME WELCOME . SO THE NEXT ITEM ON THE AGENDA IS THE APPOINTMENT OF OFFICERS
AS ON 1.3. SO WE HAVE THE INCUMBENTS LISTED THERE AND I GUESS WE NEED SOMEBODY TO MAKE A MOTION SUGGEST NEW PEOPLE WHATEVER
THE COMMISSIONERS WOULD LIKE TO DO AND I THINK WHAT I WANT TO MAKE A PREFATORY COUNT I BELIEVE IN THE PAST IT MAY APPEAR THAT WE'VE BEEN
SOMEWHAT PRO FORMA IN DOING THIS AND I DON'T THINK ANY OF US INTENDED DO THAT. I THINK WE VOTE FOR PEOPLE WHO WE BELIEVE SHOULD DO THE JOBS AND, HAVE DONE A GREAT JOB AND BROUGHT THAT WITH US.
SO I'M GOING TO MOVE THE CURRENT SLATE OF THE PEOPLE IF IT'S NOT TOO PREMATURE FOR MOTIONS OH IT'S IT'S PERFECT FOR A MOTION IF YOU WANT TO
MAKE I WOULD MOVE THAT THE CURRENT OCCUPANTS OUR OFFICES RETAIN THOSE OFFICES WITH JUST ONE COMMENT WHICH IS WE NEED TO BE CAUTIOUS ABOUT MAKING
SURE THAT WE'VE PLAN FOR THE FUTURE AND TRANSITIONS AS MANY OF US CONTINUE WRINKLE IN THIS
TIME NO AND AND THE THE BENEFIT OF OUR OUR LONG TERM OUR LONG TENURE AS NOTED IN THE PRESENTATION THAT WE'RE GOING TO GET LATER IS I THINK
A REAL THING BUT I HAVE IT ALL DISAPPEAR SIMULTANEOUSLY THROUGH THE ACTIVE SO WE REALLY NEED TO THINK ABOUT BROADENING OUR PARTICIPATION BOTH IN THE COMMISSION
IN GENERAL I BELIEVE IN THAT IN THE OFFICER RANKS SO BUT FOR THE MOMENT I MOVE THAT WE RETAIN THE CURRENT SLATE
OF OFFICERS WITH NAMES AND TITLES BURTON THAT THERE ARE TWO AND BACK TO YOU. MR. PRESIDENT, DO WE HAVE A
SECOND? DON'T EVER REALLY TALK AT ONCE . SECOND COMMISSIONER HUNT. SECOND.
I'M SORRY. ALL RIGHT. ALL RIGHT. WE HAVE A MOTION MADE IN SECOND AND I THINK WE WE NOW NEED TO DO A ROLL CALL AND WE I SHOULD NOTE FOR THE RECORD THAT COMMISSIONER NELSON JUST HAS JOINED US.
IF I COULD MR. PRESIDENT. YES, I WOULD AGREE WITH COMMISSIONER KELLER THAT WE JUST NEED TO MAKE SURE THAT AS AS WE MOVE FORWARD WITH OUR DISCUSSIONS AND ANY OF THE WORK THAT WE'RE THAT WE WE MAKE IT AS BROAD A TENT AS
POSSIBLE AS WE DO OUR DISCUSSIONS, WE DO THE CONVERSATIONS AS WE MAKE THE THE PUT OUR HEADS TOGETHER WITH STAFF AND WITH OTHER COUNCIL WITH OTHER COMMISSION MEMBERS TO TRY AND FIGURE THIS OUT TO MAKE SURE THAT IT'S AS
BROAD AS POSSIBLE WITHIN THE COMMISSION HERE SO THAT AS WE WRINKLE WE ALL DO THAT THERE'S THAT THERE'S THAT ADDITIONAL KNOWLEDGE THERE'S THAT ADDITIONAL UNDERSTANDING THAT ADDITIONAL APPRECIATION OF THE
WORK THAT THAT INSTITUTIONAL KNOWLEDGE. WE DO MOVE FORWARD WITH ANY NUMBER OF THINGS THAT WE DO THAT IT'S THAT IT'S AS BROAD AND AS WIDE AS POSSIBLE BECAUSE THE WRINKLING IS
CERTAINLY HAPPENING. WE WANT TO MAKE SURE THAT WE HAVE A A PLAN AND A PATH FORWARD SO THAT WE'RE WE'RE READY TO MOVE FORWARD FOR THE NEXT GENERATIONS. AND AS WE MOVE FORWARD IN BLOOMINGTON.
OKAY. ANY FURTHER QUESTIONS? COMMENTS. IF NOT I LET'S CALL THE ROLL ERICKSEN YES, I SEE. I HUNT.
NELSON LUND'S I KELLER PETERSEN I MOTION CARRIER SEVEN ZERO. THE NEXT ITEM THEN IS THE
APPROVAL OF MINUTES. WE HAVE TWO DIFFERENT SETS OF MINUTES. WE HAVE ONE SET OF MINUTES FOR . THE LAST MEETING THAT WE HAD
SO I WOULD ENTERTAIN A MOTION FOR THE APPROVAL OF THOSE QUESTION CALL TO ORDER FOR PORT PORT AUTHORITY
COMMISSIONER MEMBERS PRESENT THE LAST ONES MR. PETERSON PORT AUTHORITY MEMBERS ABSENT THE LAST ONES COMMISSIONER PETERSON STEVE'S GOOD BUT I'M
THINKING IN TWO PLACES AT ONCE. THANKS ROB. I WAS GOING TO POINT THE SAME THING UP ALL RIGHT. SURE YOU WERE OKAY WITH. THAT CORRECTION I WOULD
ENTERTAIN A MOTION FOR THE APPROVAL OF WELL, I DON'T KNOW WHAT I CAN'T REMEMBER. WAS IT HERE WITH STEVE OR NOT ? HE WAS GOING TO BRING YOU HERE, MR. PETERSON?
YEAH, I WAS NOT AT THAT MEETING SO YEAH. ALL RIGHT HERE. IS THAT ALL RIGHT? AND IF I IF I COULD JUST BRING I THINK COMMISSIONER KELLY OR COMMISSIONER LYONS I THINK YOU'RE SPEAKING TO ITEM 2.2 OF THE APPROVAL OF A
CONCURRENT PORT AUTHORITY HRT CITY COUNCIL MEETING. OH I'M ON THE WRONG ONE AS OPPOSED TO ITEM 2.1 THE APPROVAL OF THE PORT AUTHORITY MINUTES FROM FEBRUARY OR FROM EXCUSE ME FROM DECEMBER.
YOU'RE CORRECT I. JUMPED THE GUN. I JUST WANT TO MAKE SURE THAT WE'RE VOTING ON THE CORRECT THING HERE AND NOT IN YOUR YOU ARE CORRECT BUT I THINK WE WERE TALKING ABOUT ITEM 2.2 THERE.
THANK YOU, MR. MAYOR. THAT CORRECTION SO AS WE ARE NOW CORRECTED AND WE'RE CERTAIN THAT WE'RE MEETING ON THE MEETING FOR DECEMBER 10TH
,I BELIEVE COMMISSIONER LANCE MADE MOTION TO WE HAVE A SECOND SECOND BY COMMISSIONER HUNT ANY FURTHER DISCUSSION AT ALL IN FAVOR PLEASE WE HAVE TO
DO THE ROLL CALL AGAIN. ALL RIGHT, ERICSSON YES. JESSE HUNT NELSON LANCE I KEHLER ABSTAINED FOR LACK OF ATTENDANCE.
PARDON? I WASN'T THERE, PETERSON I WASN'T CURIOUS. SIX WITH ONE EXCEPTION.
OKAY, NEXT ITEM THAT WE HAVE SOME CONCURRENT MINUTES THERE ALSO ATTACHED SO I WILL OBTAIN AND THAT MEETING ALSO WAS ON
DECEMBER 10TH. MR. PRESIDENT, I WOULD MOVE APPROVAL OF THE CONCURRENT PORT AUTHORITY HRT CITY COUNCIL MEETING FROM DECEMBER 10TH ACKNOWLEDGING THAT
COMMISSIONER PETERSON THOUGH INCREDIBLY TALENTED AND FLEXIBLE I THINK THEY ARE AND NOT THERE AT THE SAME TIME HE IN FACT WAS NOT PRESENT AT THE MEETING. THANK YOU. DO WE HAVE A SECOND SECOND BY
COMMISSIONER NELSON. ANY FURTHER ADDITIONS OR CORRECTIONS? IF NOT PLEASE CALL ROLE ERICSSON I AC I HUNT NELSON
LENZ I KELLER AGAIN WASN'T THERE SO PETERSON AND I'M ABSTAINING BECAUSE WANT THE MOTION CURIOUS FIVE ZERO WITH
TWO ABSTENTIONS OKAY WE ARE THEN ON TO SOMETHING THAT WE HAVEN'T DONE HERE BEFORE BUT I THINK IT'S A PRACTICAL WAY TO HANDLE THESE THINGS. WE HAVE A LOT OF THINGS THAT
NEED TO BE APPROVED ONE OF OFFICIAL NEWSPAPER DESIGNATION OF OFFICIAL REPOSITORY IS AND I KNOW ON THAT ONE THAT COMMISSIONER HUNT USUALLY ABSTAINS AND I
THINK IF COMMISSIONER HAD IS OKAY WHAT WE CAN DO IS JUST NOTE THAT SHE'S ABSTAINING IF WE HAVE ONE MOTION THAT SHE'S ABSTAINING WITH RESPECT TO THE DEPOSITORIES ELECTRONIC FUNDS TRANSFER EXTERNAL AUDITOR OR
MUNICIPAL AUDITOR FINANCIAL MANAGEMENT POLICIES AND THEN ALPHA BE ESTOPPEL CERTIFICATES SO DOES WHAT ANY COMMISSIONER
LIKE ANY ONE OF THESE TO BE VOTED ON SEPARATELY IF NOT I WOULD ENTERTAIN A MOTION AND FOR ALL THE ITEMS IN THE
CONSENT AGENDA AND WE CAN KNOW IF IT'S OKAY WITH MR. HUNT THAT SHE WOULD BE ABSTAINING WITH RESPECT TO ITEM 3.2.
MR. PRESIDENT WOULD MOVE APPROVAL OF THE CONSENT BUSINESS A STATUS MADE BY MR. BUSSEY. DO WE HAVE A SECOND COMMISSIONER SECOND BY
COMMISSIONER LUTZ AND YOU WANT TO CALL HER ON ERIKSSON? I AC I HUNT NELSON LANCE I
KELLER PETERSON I MOTION CARRY SEVEN ZERO AND PLEASE NOTE AGAIN THAT COMMISSIONER HUNT
RECUSED HERSELF AND ON 3.2 OKAY THE NEXT ITEM THEN IS WE GET INTO MORE OF THAT WE HAVE TO WELL I GUESS WE ACTUALLY
GOT A PRESENTATION HERE SO ITEM 4.1 AND WHAT I JUST WANT TO COMMENT ON AS WE GET INTO THIS THIS IS A LONG AGENDA AND I WAS TALKING WITH HOLLY ABOUT
IT YESTERDAY. I THINK ONE OTHE MOST IMPORTANT THINGS THAT WE GET INTO IS AT THE END IT'S ITEM 5.4 WHICH IS OUR PORT
AUTHORITY WORKPLAN AND IF HOLLY IS COMFORTABLE IF WE'RE IN A SITUATION WHERE WE FEEL THAT WE'VE REALLY HAD TIME TO TALK ABOUT THIS AND LOOK AT IT
WE CAN EASILY BRING THAT BACK TO THE NEXT MEETING SO AGAIN I I THINK SIMPLY BECAUSE OF THE NATURE OF WHAT WE HAVE SO MANY THINGS THAT'S THIS IS PROBABLY
THE TIME WHEN WE WE HAVE THE BEST OVERVIEW OF WHAT WE'RE EXPECTING STAFF TO DO. AND SO I THINK IF WE HAVE ANYTHING ON THAT AND I THINK ONE OF THE THINGS THAT COULD
COME UP IN THE DISCUSSION IS REALLY WHEN WE HAVE A WORK PLAN LIKE THIS, HOW DO WE MEASURE HOW IT'S GOING? YOU MEAN WHAT ITEMS DO WE HAVE?
SO WITH THAT SAID WELCOME THANK YOU TO THE PRESENT IMO WE'RE PULLING UP PRESENTATION
SO THIS IS A AGENDA TOPIC ABOUT THE GROCERY SPACE I CARBON 31 AND MY NAME'S KEVIN KENNY'S ASSISTANT PORT COMMISSIONER AND THE INTENTION FOR THIS PRESENTATION IS TO
GIVE YOU AN OVERVIEW OF POTENTIAL UPDATES TO THE TERMS OF OUR RECAPTURE AGREEMENT RELATED TO THAT GROCERY SPACE. THE HOPE IS THAT IF THERE IS APPROVAL FOR THOSE TERMS THAT
WILL ALLOW MCGUFF TO DEVELOP OR TO NEGOTIATE WITH A TENANT BASED ON THOSE TERMS TO EXECUTE A LEASE. KEVIN EXCUSE ME CAN I ASK YOU THE FAVORITE YOU GET INTO THE MIKE A BIT MORE? JUSTIN OH YES, SORRY ABOUT
THAT. IS THAT LET'S SEE IF I CAN GET THIS CLICKER TO WORK. DO YOU WANT TO MAYBE JUST GO
TO THE NEXT SLIDE? SORRY ABOUT THAT. MAYBE. NOPE, BUT IT WORKED.
OKAY, SO A QUICK OVERVIEW HERE. SO CARBON 31 IS THE NEWEST APARTMENT BUILDING TO OPEN AT BLOOMINGTON CENTRAL STATION. YOU CAN SEE IT HERE ON THE SLIDE.
THE GROCERY SPACE IS THOUSAND 500 SQUARE FEET OF THE BUILDING AND THERE ARE 402 UNITS OF APARTMENT BUILDING OR UNITS THERE 36 OF THEM ARE
UNDER THE OPPORTUNITY HOUSING ORDINANCE THE CITY INVESTED $22.9 MILLION OF TIFF IN THE PROJECT THROUGH A PAY NOTE AND THEN WE EXECUTED A RECAPTURE
AGREEMENT WHEREBY IF CERTAIN MARKET CONDITIONS EXIST WE'LL RECAPTURE A PORTION OF THAT SUBSIDY AND THEN IN NOVEMBER OF 23 ALLENDALE MARKET ACTUALLY OCCUPIED THE SPACE OR
SPACE. UNFORTUNATELY THERE ARE TENANCY THERE WAS A VERY SHORT LIVED AND THEY ENDED UP LEAVING THE SPACE IN FEBRUARY OF 24 AND SO ON THE GOV HAS
BEEN WORKING WITH JONES LANG LASALLE OR JLL TO MARKET THE SPACE AS AN EXCELLENT AND WE KIND OF COVER THIS SO LET'S
MAYBE GO TO THE NEXT ONE THINGS OKAY SO THE CURRENT GROCERY RECAPTURE AGREEMENT IS STRUCTURED OUTLINES KIND OF TWO DIFFERENT RECAPTURE STRUCTURES WE'RE ONLY TALKING ABOUT THERE A STRUCTURE FOR
THE GROCERY SPACE WE'RE NOT TALKING ABOUT IF A SALE OF THE BUILDING OCCURRED TODAY SO THAT CURRENT AGREEMENT BETWEEN THE PORT AND BXP FOR HOUSING LLC SO THAT'S THE DEVELOPMENT
UNDER MCGUFF THAT DEVELOPED THE THE BUILDING INCLUDES RECAPTURE FOR THE GROCERY SPACE AND THAT WAS BASED ON A THREE STEP WATERFALL THAT DID A CALCULATION ON EARNINGS
INTEREST TAXES, DEPRECIATION AND AMORTIZATION AND THAT'S WHAT'S ON THE SCREEN HERE BEFORE YOU NEXT SLIDE SO SO
SINCE THAT SPACE WAS VACATED PORT STAFF ALONGSIDE MCGUFF AND OUR CONSULTANT WITH ELDERS ARE REVIEWING THE EXISTING RECAPTURE AGREEMENT TO DETERMINE IF POTENTIAL CHANGES WOULD BE BENEFICIAL IN SECURING A NEW TENANT THAT SPACE AND THEN BASED ON THAT
THOSE CONVERSATIONS THE PROPOSAL THAT WE'RE BRINGING FORWARD IS TO ALLOW FOR POTENTIAL TENANT THAT. MCGUFF HAS A LETTER OF INTENT
WITH OR THAT DOES NOT GO FORWARD AND RESULT IN A LEASE FOR A NEW TENANT TO OCCUPY THAT SPACE UNDER THESE NEW TERMS. SO THE CHANGES FOCUS ON SIMPLIFYING RECAPTURE
AGREEMENT SO THAT THAT SPACE IS MORE EASILY MARKETABLE AND THE AGREEMENT IS MORE EASY FOR A NEW TENANT TO UNDERSTAND AND REALISTICALLY IT'S ABOUT REMOVING THE THREE STEP
WATERFALL CALCULATION THAT WAS BASED ON THAT EARNINGS BEFORE INTEREST TAXES, DEPRECIATION AND AMORTIZATION TO A BASE BONUS RENT. SO IT'S A LITTLE BIT MORE SIMPLE THERE AND THEN IT DOES PROVIDE A TWO YEAR
STABILIZATION PERIOD SO THAT NEW TENANT STABILITY IN THE SPACE BEFORE THEY HAVE RENT PAYMENTS THAT ARE BEING INCURRED AND THEN FINALLY IT DOES PROVIDE FOR SHARING IN BENEFITS THROUGH THAT RENT
IF THEIR SALES EXCEED EXPECTATIONS. NEXT SLIDE SO THIS IS A LOT
IN ONE SLIDE SO MAYBE I'LL KIND OF SUMMARIZE IT HERE IT'S CHANGING TO A BASE PLUS BONUS RENT STRUCTURE AND ALSO REMOVING THE BUSINESS RESERVE AS A RESULT OF THAT STABILITY PERIODS OF THAT TWO YEAR
STABILIZATION PERIOD PLUS THAT LOW BASE RENT TO ALLOW A NEW TENANT TO BE STABLE AND FINANCIALLY FEASIBLE IN THE SPACE. THE COST THAT THEY WOULD BE INCURRING DURING THAT PERIOD WOULD SPECIFICALLY RELATED TO
THEIR OPERATING EXPENSES FOR THINGS LIKE COMMON AREA MAINTENANCE AND THEIR PORTION OF PROPERTY TAXES. BUT THEY WOULDN'T BE PAYING UNTIL YEAR THREE OF THE LEASE.
ADDITIONALLY THE BONUS RENT WOULD RECAPTURE THE ADDITIONAL REVENUE IF SALES EXCEED THOSE TENANT PROJECTIONS. AS WE LEARNED WITH ROXANNE DEL'S THE AMOUNT THAT SALES
ACTUALLY ENDED UP BEING WAS SUBSTANTIALLY LESS THAN EXPECTATION SO IT ALLOWS FOR THAT BASE RENT BUT IF THOSE AMOUNTS DO END UP EXCEEDING IT THE ABILITY TO RECAPTURE SOME OF THOSE FUNDS AND THEN
FINALLY THERE WAS FUND THAT WAS USED FOR RESERVE FUNDS THAT WOULD EVENTUALLY BECOME FUNDS THAT WOULD BE AVAILABLE TO MCGUFF. WE'RE PROPOSING TO REMOVE THAT FUND AND THEN ALLOW THEM TO COLLECT FUNDS VIA RENT
PAYMENTS IN YEARS 337 UNTIL THE END OF THE LEASE TERM AND WITH THAT LIKE TO OPEN UP TO ANY QUESTIONS YOU HAVE ABOUT THE PRESENTATION OR THE
PROPOSAL JOHNNY MEEKER IS HERE FROM MCGUFF AS WELL AND THEN HE DOESN'T HAVE A FORMAL PRESENTATION BUT IF YOU HAVE QUESTIONS FOR HIM HE'S HAPPY TO ANSWER THEM OTHERWISE THE MOTION IS DEPICTED ON THE NEXT
SLIDE THAT IT'S GOING TO TURN OVER. WELL THANK YOU AGAIN. THIS IS SOMETHING THAT WE ALL HAD HIGH HOPES FOR THAT WOULD TAKE LONGER AND IT JUST DIDN'T
LAST VERY LONG AND ONE OF THE THINGS THAT I WAS SOMEWHAT OPTIMISTIC ABOUT HAVING BEEN INVOLVED THE FOOD BUSINESS FOR A FEW YEARS IS THAT ONCE YOU PUT A FOOD STORE IN THE FIXTURES ARE VERY EXPENSIVE
BUT. THEY AREN'T WORTH MUCH IF YOU TAKE THEM OUT AND IT LOOKS LIKE THIS WHOLE ARRANGEMENT IS ON PART OF A GULF AND
EVERYBODY ELSE IS ONE THAT IS TRYING TO GIVE THE NEW OPERATION THE MAXIMUM CHANCE TO SUCCEED WHICH IS WHAT WE NEED TO DO. AND OF COURSE ONE OF THE THINGS THAT'S CRITICALLY
IMPORTANT IS THAT A LOT OF US THOUGHT THAT THERE WASN'T MUCH OF ANY EFFORT TO REALLY SOLICIT THE PEOPLE THAT LIVED IN BUILDINGS AROUND THERE WHEN THEY OPENED THE STORE.
AND SO HOPEFULLY THERE'S A FULL PLAN SOON WE CAN EITHER ASK QUESTIONS TO KEVIN OR I DON'T KNOW WE WANT TO HAVE JOHNNY COME UP AND JUST SAY A FEW WORDS ABOUT IT AND MAYBE
GIVE US AN UPDATE ON HOW THE LISTING IS GOING AT PROJECT AND THEN THE FURTHER QUESTIONS GO IN IF YOU DON'T MIND. WELL HE'S COMING UP SO THE
INTENTION NOW IS THEY HAVE A LETTER AND OF INTENT WITH A POTENTIAL TENANT AND WHAT WE'RE TRYING TO HERE IS TO ALLOW THEM TO EXECUTE A LEASE WITH THAT TENANT IF THE TERMS
ARE ACCEPTABLE TO THE PORT COMMISSION AND I'LL TURN IT OVER TO JOHNNY AND THANK YOU. OKAY. HEY EVERYONE. AND JUST WANTED TO MAKE SURE THAT SUZANNE THANK YOU FOR HAVING US TODAY AND JOHNNY
ACTUALLY HAS SOME LINEAGE HERE OF THE CITY YOU'RE YOUR GRANDFATHER IS A VERY PROMINENT CITIZEN OH IS
RETIRED AND ALREADY STARTED A GOOD OL MANUFACTURING AND SEVERAL OTHER COMPANIES SO YEAH SO WE HAVE A HISTORY TO START OFF WITH CARBON 31
LEASING IS GOING REALLY WELL FROM EVERYTHING WE'VE BEEN TOLD BY OUR PROPERTY MANAGER CUSHMAN WAKEFIELD WE ARE TOP OF THE MARKET SO WE'RE REALLY EXCITED ABOUT THAT.
ADDITIONALLY BACK STORY COFFEE RECENTLY OPENED AND THEY'VE BEEN DOING DRAWING MORE VISITORS INTO THE AREA.
WE'RE HOPEFUL THAT THIS NEW TENANT WILL DRAW MORE IN THIS GROCERY STORE WE'RE WORKING WITH IS LATINO MARKET WITH A
GRAB AND GO OPTION AND QUICK SERVICE DINING AND THEY'RE ALSO A DESTINATION GROCERY STORE THEY HAVE CLIENT LISTS
OR SHOPPER LISTS THAT SHOW THAT THERE WERE ZIP CODE STUDIES THAT SHOW THAT PEOPLE DRIVE TENS OF MILES AWAY. SO RATHER THAN JUST BEING YOUR LOCAL NORMAL GROCERY STORE,
WE'RE HOPING THAT THIS REALLY IS A DESTINATION AND DRIVES PEOPLE AND IN ADDITIONALLY HAVING THAT QUICK SERVICE AMENITY I WAS WORKING AT
CARBON 31 LAST WEEK AND THE NUMBER OF PEOPLE THAT ARE GETTING GRUBHUB OR UBER EATS JUST DELIVERED SO. HAVING THAT GRAB AND GO OPTION FEELS LIKE IT'S A REALLY GOOD FIT AND THEN JUST GOING BACK
TO SOMETHING COMMISSIONER ERICKSON SAID PRESIDENT ERICKSON SAID IS THAT THE MARKETING THAT THESE LATINO
GROCERY STORES LIKE THEY'RE A VERY OPERATOR THEY REALLY UNDERSTAND THAT YOU CAN'T BE PASSIVE YOU HAVE TO GET OUT THERE AND MAKE YOUR SPACE
REALLY KNOWN GREAT RESTAURANT SO QUICK QUESTION THAT I HAD IS AND I HEARD FROM A LOT NOT TENANTS IN THE BUILDING THAT BUSINESSES IN AREA BECAUSE
THIS PARK WAS THERE WASN'T ANY MARKETING AND GEE WE'RE ALL CAPTIVE PEOPLE AND THOSE THAT WENT YOU KNOW LIKED THAT WAS DISAPPOINTING THEN IT QUICKLY CLOSED SO JUST YOU KNOW THE
COMMENT AGAIN ABOUT THE MARKETING NEEDS FOR AGAIN AROUND THERE AND THE OTHER THING THE QUICK QUESTION ON BEYOND THAT IS HERE THE NOT JUST FOR THE TENANTS IN THE OFFICE PARK BUT PEOPLE COMING
FROM A DISTANCE AND I A FIGHTER SO MANY TIMES BUT IS THERE REALLY EASY PARKING RIGHT THERE SO THERE IS YEP. SO PEOPLE THAT ARE NON
RESIDENTS CAN JUST ZIP IN AND GRAB. YES THEY CAN THERE'S A ABOUT
3430 435 VERY EASY I GUESS WHAT'S THE PROPER TERM KNOWS IN STREET PARKING STALLS THAT ARE RIGHT IN FRONT OF THE MAIN
ENTRANCE OR SO AND YES WE'RE VERY COGNIZANT OF THE MARKETING AND WE'VE HEARD THE SAME THING AND EVEN WHEN ACCENT WAS CLOSED DOWN OUR
PROPERTY MANAGER IS TELLING US LIKE EVEN WITH THE BIG CLOSED SIGNS PEOPLE WERE YOU KNOW, SHAKING THE DOOR TRYING TO GET IN , YOU KNOW, MAYBE AFTER WARMED UP A LITTLE BIT. PEOPLE ARE OUT AND ABOUT
WALKING SO FOR MY UNDERSTANDING WINTER'S A TOUGH TIME TO OPEN A GROCERY STORE MAKES SENSE AND IT WAS IT'S A FREQUENT QUESTION THAT I GET WHAT DO YOU KNOW ABOUT THE GROCERY STORE ONES ONE COMING
AND SO EXCITING YES OTHER QUESTIONS COMMENTS RESTAURANTS YOU KNOW I'M JUST LOOKING FOR INFORMATION MAYBE A LITTLE
ELABORATION ON THIRD PARAGRAPH. IT'S SECOND SINCE THE MAIN INTERESTED PARTIES WERE LOCAL CULTURAL GROCERS THAT CATER TO COMMUNITIES METRO WIDE NOT JUST IN THE SOCIAL SO IS I
MEAN SOUNDS LIKE THAT COULD BE A CODE CODE LANGUAGE FOR AN ETHNIC GROCERY STORE WONDERING WHETHER ENGEBRETSEN IS OPENING A SECOND LOCATION OF LAKE STREET IN BLOOMINGTON HOME.
SO YES, THERE WOULD CODE LANGUAGE. THE GROCERY STORE WE'RE LOOKING AT IS A LATINO OR LATINO SERVING AND JUST THIS
IS IN MY NORMAL CHAIN OF BUSINESS BUT MY UNDERSTAND WE'VE HAD DISCUSSIONS WITH THEM THAT PEOPLE WANT TO BUY A CERTAIN TYPE OF FOOD THAT
ISN'T NECESSARILY STOCKED YOU KNOW YOUR CARB FOR YOUR BUYER LEASE AND THEY TRAVEL FOR IT AND THEY MAKE A DAY OF IT AND THEN THEY'LL TYPICALLY GRAB DINNER OR LUNCH THERE WHILE
THEY'RE THERE WHICH IS ALSO AN ADDITIONAL DRAW TO GET PEOPLE INTO THE STORE. THIS IS TENTATIVE STORES THEY DO OKAY SO THIS ISN'T A
PIONEERING OPERATION. IT IS NOT YOU'RE GOING TO CONTINUE TO HAVE A BASELINE OF OF REGULAR GROCERY PRODUCTS BUT THERE'S CERTAIN MEAT CUTS.
FOR EXAMPLE, MANY LATINOS LIKE THINNER SLICING AND BEEF FOR EXAMPLE AND AND CERTAIN ITEMS YOU KNOW, OTHER ITEMS IN THE PERISHABLE AREA IN TERMS
SPICES STUFF AND PEPPERS AND THINGS LIKE THIS THAT SO IT'S REALLY AN AUGMENTATION OF THAT AND ONE OF THE THINGS THAT WOULD BE WONDERFUL IS IF WE
HAVE A PARKING PROBLEM YES. THAT WOULD MEAN WE'RE GETTING THERE AND THERE WOULD BE A NICE PROBLEM TO HAVE TO SOLVE. SO MR. NELSON YEAH.
THANK YOU. JUST A COUPLE QUICK QUESTIONS HERE. SO IT'S A 15 YEAR AGREEMENT. DOES THAT BASICALLY RESTART THE CLOCK WAS THE ORIGINAL 115
YEARS AND THIS RESTARTS THAT THERE'S A SEVEN YEARS AND THEN FROM WHAT I UNDERSTOOD THE RECAPTURE PORTION OF THE LAST EIGHT YEARS AND MY UNDERSTANDING THAT CORRECTLY
PRESIDENT ERICKSON, COUNCILMEMBER NELSON SO THAT TERM THAT YOU'RE REFERENCING WAS PART OF THE ORIGINAL ORIGINAL AGREEMENT WITH THAT RESERVE. OKAY. SO THAT'S THE FUNDS THAT WOULD BE HELD FOR PERFORMANCE OF THE
TENANT WE'RE PROPOSING TO THAT TO IN RESPONSE TO A LOWER BASE RENT PLUS A TWO YEAR CONTRACT PERIOD WHERE THEY'RE NOT PAYING RENT AND SO THAT NO LONGER APPLIES WHAT WE'RE
LOOKING AT NOW WOULD BE A SEVEN YEAR TERM FOR THE RECAPTURE WHICH IS CONSISTENT WITH THE EXISTING TIME FRAME. WE DID EVALUATE POSSIBLY LOOKING AT AN EXTENSION AND DETERMINED THAT THAT DIDN'T
MAKE SENSE ON THE EXISTING FRAMEWORK AND INSTEAD MCGUFF INCURRED SOME COSTS THAT THEY ARE EFFECTIVELY NOT RECAPTURING THEMSELVES THROUGH THIS PROCESS.
OKAY. AND THEN ONE OF THE OTHER THINGS IS THERE'S THERE WAS A $675,000 THAT MIGHT COME BACK
TO US, BUT THAT'S NOW GOING TO MCGUFF AM I UNDERSTAND THAT CORRECTLY THE 675 THAT YOU'RE REFERENCING IS THAT RESERVE THAT WOULD HAVE BEEN HELD FOR THE TENANT IF THEY NEEDED TO
DRAW UPON THOSE FUNDS AND THEN AT THE END OF THAT TERM IF THEY DIDN'T MCGUFF WOULD BE ELIGIBLE TO RECEIVE THOSE DOLLARS. SO EFFECTIVELY THE CHANGES REMOVING THAT THAT FUND THAT
WAS HELD IN RESERVE ALLOWING THEM ACCESS THOSE DOLLARS AS THEIR EARNED INSTEAD PROVIDING FOR A LOW RENT PAYMENT THAT
THE TENANT HAS TO PAY. OKAY. THANK YOU FOR THAT CLARIFICATION AND THEN IN TERMS OF THE OVERALL RECAPTURE BASED ON WHAT YOU'RE LOOKING AT, OBVIOUSLY THE
FIRST ONE DIDN'T WORK OUT OR VERY HELPFUL FOR THE SECOND ONE HERE BUT IT'S THE SAME RECAP SHARE AMOUNT. SO THE CITY HAD A RECAPTURE
EXPECTATION UP TO 50% HOPEFUL FOR THAT THAT THAT REMAINS THE SAME THAT THAT'S WHAT WE'RE LOOKING AT AND THE DATA BASED ON WHAT WE KNOW TODAY SUPPORTS
THAT WE RECAPTURE THAT 50% OF THAT OR WE COULD RECAPTURE 50%. PRESIDENT ERICKSON COUNCILMEMBER NELSON YOU ARE CORRECT THAT THAT AMOUNT IS THE SAME SO THAT HAS NOT BEEN
CHANGED BASED ON MARKET CONDITIONS AND WHAT WE SAW IT'S THAT THE CITY WOULD CAPTURE UP TO THAT AMOUNT SO THE PERFORMANCE SHOWED THAT THERE MAY NOT HAVE BEEN A RECAPTURE WHATSOEVER AND
OBVIOUSLY WITH THERE BEING NO TENANT THERE NOT ABILITY TO DO A RECAPTURE. SO PART OF THIS IS TRYING TO GET A TENANT IN THERE AND CREATE A STRUCTURE THAT ALLOWS US TO DO THAT AND POTENTIALLY
A SMALLER LEVEL OF RECAPTURE. WE DO HAVE SOME BASED ON KIND OF SOME DIFFERENT PROJECTIONS AND I WILL SHARE IT IS THAN THAT BUT IF THEY DO PERFORM WELL THEN IT'S POTENTIALLY A
RECAPTURE AMOUNT OF ABOUT 600,000 AT THE END OF THE TERM FOR THE CITY. SO WE POTENTIALLY RECAPTURE A LITTLE BIT LESS THAN WE HAD THE MAXIMUM OUT BUT THAT WAS
NOT GUARANTEED OR WE COULD RECAPTURE NOTHING. CORRECT. OKAY. THANKS FOR THE MR. PRESIDENT AND THEN COMMISSIONER LYONS. THANK YOU, MR. PRESIDENT. SO KIND OF BUILDING ON COMMISSIONER NELSON'S QUESTION
HERE, I UNDERSTAND THE CHANGES WERE CONSIDERING THE FAILURE OF THE FIRST OF OXEN DEALS AND THE DIFFICULTY BRINGING SOMEONE IN . BUT IF WE IF WE LAID THE ORIGINAL AGREEMENT SIDE BY
SIDE WITH THIS NEW RECAPTURE JUST BRIEFLY AND AT A HIGH LEVEL THAT THE BIG CHANGES AND ULTIMATELY WHAT THE COST DIFFERENTIAL WILL BE BASICALLY
WHAT IS THE COST TO THE PORT AND ULTIMATELY THE CITY TO TO MAKE THESE ADJUSTMENTS NECESSARY TO MAKE IT SO A GROCERY STORE COULD POTENTIALLY SUCCEED IN THE SPACE?
MAYOR BUSSEY AND PRESIDENT ERICKSON SO THE COST TO CITY IS THE COST OF EFFECTIVELY ADMINISTRATION IN AND MAKING CHANGES TO THE AGREEMENT.
BUT I THINK THE QUESTION IS RELATED TO THE RECAPTURE AMOUNT THAT WE'RE POTENTIALLY LOSING OUT ON. SO THE AMOUNT AND I'VE GOT IT IN A NUMBER OF SHEETS HERE SO LET ME SEE IF I CAN FIND THAT
SPECIFIC AMOUNT THE. ORIGINAL PROJECTION SHOWED THAT THE CITY WAS EXPECTING A RECAPTURE AMOUNT OF ABOUT 1.3 $1.4 MILLION THAT WAS BASED ON
EXPECTED SALES BASED ON THE STUDY THAT THEY EXPECTED AND THEY UNDERPERFORMED THAT SIGNIFICANT SO THE NUMBERS THAT THEY REALLY SOLD OUT IS WHAT WE'RE NOW LOOKING AT AND
BASED ON THAT WE'RE WE'RE LOOKING AT POTENTIALLY NO RECAPTURE OR A VERY SMALL AMOUNT OF ABOUT $20,000 IF THEY WERE TO PERFORM AT THE LEVEL THAT THE OX AND THE
NUMBERS WERE AT THAT ORIGINAL ESTIMATE WE WOULD LOOKING AT TO RECAPTURE ABOUT HALF OF THE AMOUNT BUT THEN THAT 1.3 MILLION SO THE 600,000 THAT I REFERRED TO EARLIER AND THANK
YOU. MR. LUNTZ YEAH. ON THE LAST PARAGRAPH ON PAGE 31 THE LAST PAGE THE SECOND SENTENCE THE STRUCTURE PROVIDES A TENANT A LOAD BASED
RENT AFTER A TWO YEAR INTRODUCTORY PERIOD WITH FREE RENT AND TAKES INTO ACCOUNT OKAY. I WAS JUST WONDERING THIS IS A SEVEN YEAR LEASE. THERE'S YEARS OF FREE RENT NOW THEY'RE GOING TO PAYING A
LITTLE BASEMENT BEGINNING IN THIRD YEAR. DOES THAT STEP UP THEN FOR THE REMAINING FIVE YEARS OR IS THAT JUST FIXED VERSUS THE AVERAGE RENT PERCENTAGE PARTICIPATION RENT THAT THE
LANDLORD WOULD BE GETTING? I CAN ANSWER THAT PRESIDENT ERICKSON COMMISSIONER ALLOWANCE SO THE RENT WOULD INCREASE 2% A YEAR AND THEN THE BONUS RENT IS ON A 4%
CALCULATION OVER THAT RENT AMOUNT LOOKING AT THEIR NET SALES AMOUNT I DIDN'T QUITE HEAR THAT ALL IS STEPPING UP
THE RENTS GOING TO START THE THIRD YEAR AND IS IT GOING TO STEP UP FOR THE REMAINING FIVE YEARS AND OR IS IT IS THAT FIXED IS THAT THIRD YEAR RENT FIXED VERSUS THE THE PARTICIPATION RATE?
SO THE THIRD YEAR RENT STARTS AT THAT LOW RATE THEN INCREASES AT 2% EACH YEAR. OKAY. AND THEN ONE THING JUST TO CONSIDER IS THEY DO HAVE THE COMMON AREA MAINTENANCE COST
AND THEIR SHARE OF PROPERTY TAXES COST. SO WHEN YOU LOOK AT THE TOTAL COST TO THE TENANT, IT'S KIND OF HIGHER THAN THAT BASE AMOUNT THAT YOU'RE SEEING BUT IT IS STILL AT A LOWER VALUE COMPARED TO SOME OTHER NUMBERS
WE'VE LOOKED AT GROCERY STORES PAY LOW RENT. THEY DO OTHER QUESTIONS, COMMENTS WELL, JOHNNY, I MEAN
I THINK I KNOW I REALLY APPRECIATE AND I THINK THE REST COMMISSIONERS APPRECIATE HOW HARD YOU WORK TO GET SOMETHING DONE AND THIS OBVIOUSLY IS NOT A MONEYMAKER FOR MCGUFF BUT IT IS I THINK
SO IMPORTANT IT'S TRANSFORMATIVE TO WHAT WE WANT TO DO OUT THERE. AND I KNOW YOU'VE SHARED THAT VISION AND STRETCH TO DO IT THE FIRST TIME AND NOW STRETCHING AGAIN.
SO WE APPRECIATE ALL THOSE EFFORTS. SO YEAH IF WE HAVE NO OTHER QUESTIONS COMMENTS THERE'S A MOTION ON PAGE 29 TO ACCEPT
WHICH I WOULD ENTERTAIN. COMMISSION ONCE YOU HAVE ONE FINAL QUESTION I WAS JUST THEY'RE GOING TO HAVE IT THERE'S GOING TO BE A DRIVE UP WINDOW THAT I READ THAT
THEY'RE GOING TO THERE'S GOING TO BE DRIVE ONE OF THEM THE POOR CUSTOMERS COME PICK UP GROCERIES AND IF THERE IS HOW'S THAT GOING TO WORK? I MEAN HOW ARE YOU GOING TO PULL THAT OFF PHYSICALLY?
COMMISSIONER EXCUSE ME. NO, THERE'S NOT GOING TO BE A DRIVE UP WINDOW BUT . THERE WILL BE A GRAB AND GO OPTION FOR QUICK SERVE FOOD AND TAKE OUT SO THEY WOULD
PARK GET OUT OF THEIR CAR AND THEN GO PICK IT UP AT THE CASH REGISTER. THANK YOU. ANYONE HERE TO MAKE THE MOTION AND PAGE 29 FROM THE MOTION
MADE BY COMMISSIONER KELLER SECONDED BY COMMISSIONER LUTZ ANY FURTHER DISCUSSION PLEASE CALDERON MARK ERICKSON I BASI
I HUNT I NELSON I LUNDS I PETERSON I MOTION CARRY SEVEN ZERO SO THANK YOU VERY MUCH WE LOOK FORWARD TO HAVING GETTING
THAT OPEN AND HOPEFULLY WE HAVE A PARKING PROBLEM I THANK YOU. YOU OKAY? THE NEXT ITEM IS THEN LOCAL
HOUSING. IF YES YOU'RE GOING TO DO THAT. YES. OKAY. WAL MART PULLS THAT UP SO THE LOCAL AFFORDABLE HOUSING AID
USAGE. YOU MAY RECALL WE HAD A CONVERSATION ABOUT THAT BETWEEN COUNCIL PORT AND HRA ON DECEMBER 10TH. THAT WAS A SESSION WHERE WE WERE SOLICITING FEEDBACK ABOUT
THE BEST WAY TO USE THOSE FUNDS GIVEN THE LIMITED RESOURCES THAT ARE AVAILABLE. THIS PRESENTATION IS BASICALLY SHARING THE INFORMATION THAT WAS RECEIVED DURING THAT MEETING AND THEN PROVIDING A
STAFF RECOMMENDATION FOR THE PROPOSED USES THAT WENT BEFORE HRA LAST WEEK AND THEN WE'LL BE GOING BEFORE COUNCIL ON THE 3RD OF MARCH. LET'S SEE IF I CAN GET THIS
CLICKER THIS TIME. BEFORE I LEAVE HERE WHENEVER THAT IS I'M GOING TO GET THIS TO WORK. THAT'S MY MISSION.
YOU WANNA GO TO THE NEXT SLIDE ? IT MUST HAVE WORKED. OKAY. SO JUST A QUICK OVERVIEW. LOCAL AFFORDABLE HOUSING AID. SO IT'S FROM THE METRO SALES.
THIS WAS PASSED IN THE 2023 LEGISLATIVE SESSION AND IT'S ELIGIBLE USES ARE SPECIFIC TO AFFORDABLE RENTAL HOUSING AND AFFORDABLE OWNERSHIP PROJECTS AND SO THAT WAS WHAT WE AS
PART OF THAT SESSION TO DETERMINE HOW DO WE FUND THOSE PROJECTS AND WHERE ARE THOSE PRIORITIES? BLOOMINGTON JUST OVER $500,000 IN 2024 AND IS ESTIMATING
ABOUT $1,000,000 ANNUALLY GOING FORWARD IN EACH NEXT YEAR . THE DISCUSSION THEMES FROM
THAT LARGER CONVERSATION THIS ARE IN DECEMBER FOCUSED ON REALLY HOW DO WE MAKE USE OF UNLIMITED RESOURCES WHEN THERE ARE SO MANY CHALLENGES. SO THAT THAT WAS THE BIGGEST
TAKEAWAY THAT THERE ARE MORE NEEDS THAN THERE ARE RESOURCES AND THE RESULT OF THAT IS STAFF LOOKED HOW TO USE THE
FUNDS AND MADE A PROPOSAL BASED ON THOSE DIFFERENT NEEDS . SO THAT PROPOSED USE IS BEFORE
YOU AND IT IS PUTTING THE FUNDS 50 50% AND THOSE FUNDS WOULD GO LIKE I SAID THEY WENT BEFORE THE HRA FOR APPROVAL ON FEBRUARY 11TH AND THEN THE
INTENTION IS TO GO TO TO AUTHORIZE THE HRA TO ADMINISTER THOSE FUNDS ON THIRD. THE PROPOSAL HAS 50% OF THE FUNDS GOING FOR OWNERSHIP
PROJECTS WITHIN THE CITY AND THEN THE OTHER 50% OF FUNDS GOING TO AFFORDABLE HOUSING DEVELOPMENT PRESERVATION. THE STRUCTURE OF THIS WOULD BE CONSISTENT WITH HOW CDBG FUNDS ARE ADMINISTERED IN THE CITY
ITSELF. AND WITH THAT I'LL OPEN IT TO ANY QUESTIONS. AND THEN SARA WHO IS OUR HRA ADMINISTRATOR IS HERE AS WELL FOR HER AND ANY ADDITIONAL QUESTIONS FOR HER?
THANK YOU. THIS IS AN INFORMATION ITEM SO I THOUGHT THAT SESSION THAT WE HAD ON DECEMBER 10TH THE TRANSITION WAS WAS A VERY GOOD SESSION.
IT WAS AND WENT THROUGH SO QUESTIONS FOR KEVIN IF NOT I IT'S COMMISSIONER NELSON YEAH
SO I SAID ONE VERY SPECIFIC QUESTION UNDER THE AFFORDABLE HOUSING. IT WAS MENTIONED ABOUT SOUTH VIEW ESTATES I BELIEVE IS ON LYNDALE AND I JUST WANTED TO KNOW IF THAT IS CONSISTENT
WITH THE LYNDALE AREA REDEVELOPMENT THAT WE HAVE IN PLACE THAT WE'RE TRYING TO EXECUTE IN THAT AREA. THAT'S A GREAT QUESTION. COUNCILMEMBER NELSON.
SARA, DO YOU HAPPEN TO KNOW THE ANSWER TO THAT QUESTION? IT LOOKS LIKE WE MAY NOT KNOW THE ANSWER TO THAT QUESTION TONIGHT. WE'D BE HAPPY TO FOLLOW UP
WITH THAT AT A LATER DATE BUT THAT'S JUST DO IT LATER. GREAT. THANK YOU. YEAH. THANK YOU FOR THIS.
AND I AGREE IT WAS A GOOD DISCUSSION. I THOUGHT WE HAD A GOOD DISCUSSION AND I THINK THIS CAPTURES DISCUSSION VERY WELL ABOUT WITH THE THE CONVERSATION HOW THE CONVERSATION WENT, HOW DID WE PUT A TIMEFRAME ON THIS? DID WE SAY ARE WE GOING TO
REVIEW THIS IN A YEAR IF FOR EXAMPLE JUST SAY FOR EXAMPLE SOMETHING STRANGE HAPPENS AT THE LEVEL AND I'M JUST THROWING THAT OUT THERE BECAUSE THAT'S, YOU KNOW, A POSSIBILITY AND SOMETHING HAPPENS. ARE WE ABLE TO CHANGE ON THE
FLY TO CHANGE TO TO ADAPT TO TO CHANGING CIRCUMSTANCES? YEAH. AND COMMISSIONER SO THE THE CURRENT PROPOSAL HAS IT BEING THE AGREEMENT BETWEEN THE COUNCIL AND THE HRA BEING REVIEWED AND APPROVED ANNUALLY
SO WE COULD AT THE VERY LEAST APPROVE ANNUALLY AND THEN SHOULD THINGS CHANGE AT THE FEDERAL LEVEL I'M ASSUMING WE COULD ASSUMING THAT THOSE HAVEN'T BEEN DELEGATED THEN SPENT TO A SPECIFIC PROJECT
THEN WE COULD BE NIMBLE AS AS NEEDED BY THE CIRCUMSTANCES. THANK YOU. I JUST I JUST WANT TO MAKE SURE WE HAVE FLEXIBILITY IF THE NEED ARISES. YES. THANK YOU. I'M YOU KNOW, IT'S WANT TO THANK YOU FOR RAISING THAT ISSUE BECAUSE IT'S BEEN
BOUNCING THE BACK OF MY HEAD FOR THE LAST WHAT IS IT THREE AND A HALF WEEKS NOW AND I HAD A NICE CHAT WITH HER AND THIS MUSIC ABOUT THAT AND I AM
ASSURED REASSURED THAT HER STAFF IS KEEPING ABREAST OF THE CIRCUMSTANCES AND PROVIDING FOR NIMBLE WITH IF THAT'S A WORD.
SO BUT LET'S ALL I BELIEVE WE HAVE TO KEEP AN EYE ON THIS BECAUSE THE THINGS ARE EVER CHANGING FAST. SO THANK YOU FOR RAISING THAT . OKAY. ANY OTHER QUESTIONS? COMMENTS? WELL, THANK YOU BOTH.
I GUESS WE CAN MOVE ON TO THE NEXT ITEM WHICH IS THE APPOINTMENT OF OUR BOND COUNSEL. I SEE JULIE SITTING OUT THERE . SO HOW ARE YOU GOING TO HANDLE
THIS? CAN'T IT'S IT'S INTERESTING. I VOLUNTEER TAXES SEVERAL DAYS A WEEK AND I WAS TELLING JULIE
SAID I SIT NEXT TO THE HUSBAND OF ONE OF HER PARTNERS SO I HAVE I HAD A PREVIEW OF WHAT THIS WAS ALL ABOUT. SO HOLLY. ALL RIGHT. GOOD EVENING, PRESIDENT
ERICKSON AND COMMISSIONERS THIS EVENING YOU HAVE A FEW ITEM TWO ITEMS BEFORE YOU. ONE FOR BOND COUNSEL AND ONE FOR GENERAL COUNSEL FOR 120
DAY CONTRACT WITH KHATTAK ROCK BELIEVE THAT IS HOW IT IS PRONOUNCED. OUR GENERAL COUNSEL BOND COUNSEL JULIE EDDINGTON WHO WAS PREVIOUSLY AT IN GRAVEN HAS SERVED THE PORT AUTHORITY FOR A VERY LONG TIME.
IT HAS TRANSFERRED OVER TO THAT FIRM AND WE HAVE THE OPTION TO CONTINUE TO WORK WITH HER ON 120 DAY TERM WILL BE RECOVERING OUR RECORDS FROM KENNEDY AND GRAVEN AND THEN WE
WILL BE PERFORMING AN RFP FOR BOTH SERVICES THE HRA AND CITY COUNCIL HAVE TAKEN A SIMILAR ACTION SO WHAT WE ARE ASKING YOU TO DO TONIGHT IS TO ALLOW US TO ENTER THAT 120 DAY
CONTRACT AND THEN WE'LL GO AHEAD WITH THE RFP FROM THERE AND HOW I CAN EVEN REFRESH MY MEMORY JULY. HOW MANY YEARS HAVE WE HAD
JULIE REPRESENTING US AS A LONG TIME . I, I STARTED WITH THIS POST.
I'M JUST I STARTED WITH THE CITY OF BLOOMINGTON IN 2011. YEAH. AND I HAVE BEEN DOING THE WORK
EVER SINCE THE DEVELOPMENT WORK AND THE BONDING WORK WELL AND I THINK AS COMMISSIONER KELLER WOULD APPRECIATE AND THAT WITH THE COMPLEXITY OF EVERYTHING WE'RE DEALING WITH IT'S THE CONTINUITY THIS
THING HAS BEEN CRITICALLY IMPORTANT BECAUSE IT'S IT'S VERY DIFFICULT. SO THANK YOU.
I WAS I WAS ON RFP INTERVIEWING COMMITTEE WITH A NUMBER OF FIRMS BACK THE FORMER CITY ATTORNEY FOR THE
COUNCIL AND AND COMMISSIONER AMY GRADY AND WE INTERVIEWED ALL OF THE DIFFERENT FIRMS AND OVERWHELMINGLY CAME BACK WITH
KENNEDY AND GRAEME AND JULIE BEING THE MOST APPROPRIATE FOR OUR NEEDS AND THAT'S PROVEN TIME AND TIME AGAIN.
YOU KNOW THE QUESTIONS OR COMMENTS I WOULD THEN ENTERTAIN EMOTION ON PAGE 5040 3.1 OF THE BOND COUNSEL FOR I GUESS YOU SAID HOW HUNDRED AND
20 DAYS IS UP? THAT'S CORRECT. I'LL MAKE THAT SECOND MOTION MADE BY COMMISSIONER PETERSON . SECOND BY COMMISSIONER HUNT. AREN'T YOU ON A CORNER ROLE,
ERICSSON? I SEE. I HUNT NELSON LUND'S.
I KELLER PETERSON I THANK YOU ,COMMISSIONER PETERSON. THE MOTION CARRIES SEVEN ZERO.
SO THEN WE HAVE ANOTHER MOTION ON GENERAL COUNSEL . SO MOVED AND I WILL SECOND AND
THEN IF I COULD ASK A QUESTION MR. PRESIDENT SO IT JUST SO I'M CLEAR ON THIS THIS IS FOR FOR INTERIM FOR 120 DAYS AND THEN GOES OUT TO A FULL RFP TO FIGURE OUT WHERE WE WHERE WE GO NEXT THAT CORRECT. OKAY. FOR BOTH THE BOND COUNSEL AND
THE GENERAL COUNSEL SERVICES, THANK YOU. OKAY. WE HAVE A MOTION MADE AND SECONDED ERICKSON I BUSSEY I
HUNT I NELSON LANCE I KELLER PETERSON I MOTION CARRIES SEVEN ZERO. OKAY. THE NEXT ITEM THAT WE HAVE IS
THE ADOPTION OF THE PORT AUTHORITY ECONOMIC DEVELOPMENT STRATEGIC PLAN. HOLLY. YES. THANK YOU VERY MUCH. PRESIDENT ERICKSON AND
COMMISSIONERS MA'AM, WOULD YOU PLEASE BRING UP THE DSP? THANK YOU. SO AS YOU ALL MAY RECALL, THIS IS A LONG TIME COMING. THIS PROJECT STARTED BEFORE I
ARRIVED AT THE PORT AUTHORITY. FOR THE LAST SEVERAL YEARS THE CITY COUNCIL HAS BEEN REALLY RAISING ECONOMIC DEVELOPMENT AS A PRIORITY FOR THE CITY.
THERE WAS A STUDY DONE WITH BETWEEN THE HRA AND THE PORT AUTHORITY IN 2022 TO REALLY LOOK AT THE STRENGTHS OF EACH ORGANIZATION AND THERE WAS A DECISION MADE TO HAVE THE PORT
ACTUALLY EXPAND FROM ITS CONSTRAINED GEOGRAPHIC AREA IN SOUTH LOOP AND THEN MOVE CITYWIDE. THERE'S ALSO DESIRE TO SEE THE PORT AUTHORITY START TO OFFER A WIDER OF ECONOMIC
DEVELOPMENT SERVICES SPECIFICALLY COMING OF THE PANDEMIC. THERE WAS A LOT OF INTEREST IN BUSINESS ASSISTANCE LOOKING AT SMALL BUSINESS SUPPORT BUILDING THOSE RELATIONSHIPS BUT THERE ARE A WIDE ARRAY
OF THINGS THAT ECONOMIC DEVELOPMENT SERVICES CAN INCLUDE. SO AS WE'VE BEEN DOING THESE EXPANSIONS IT WAS RECOMMENDED THAT WE DO AN ECONOMIC DEVELOPMENT PLAN WITH A CONSULTANT TEAM TO REALLY
GUIDE US MOVING FORWARD. SO IN 2023 WE ALLOCATED THE FUNDS TO DO THAT. WE HAD A FACILITATED SESSION INTERNALLY WITH STAFF COLLEAGUES ACROSS, COMMUNITY
DEVELOPMENT, LEGAL FINANCE TO REALLY LOOK AT WHAT A PLAN LIKE THIS NEED TO GUIDE OUR WORK MOVING FORWARD. WE PUT OUT THAT RFP AND THEN WE SELECTED TYPE STRATEGIES TO
WORK WITH US AND WE BEGAN THE WORK IN EARNEST IN 2024. SO TONIGHT I'M GOING TO SHARE WITH YOU THE RESULTS THAT PLAN. WE ARE ASKING YOU TO ADOPT THE PLAN. THERE ARE ADDITIONAL AND TOOLS
THAT COME WITH THIS PLAN BUT THOSE ARE MEANT TO BE MALLEABLE CHANGE OVER TIME. THIS IS THE PRIMARY DOCUMENT THAT WE ARE LOOKING AT TONIGHT .
ALL RIGHT. AND SO WE'LL BE GOING OVER THE CONTEXT WHICH I JUST DID AS WELL AS THE PROCESS ITSELF, THE PLAN STRUCTURE AND ACTION
PLAN AND THEN WE'LL TALK ABOUT NEXT STEPS AND THEN REQUEST ADOPTION ADOPTION. SO THE PROJECT GOAL AS YOU
KNOW WAS TO CREATE AN ECONOMIC DEVELOPMENT STRATEGIC PLAN FOR THE PORT TO GUIDE AND PRIORITIZE THE PORT'S WORK AS IT EXPANDS SERVICES THROUGHOUT BLOOMINGTON AND THAT MEANS GEOGRAPHICALLY AS WELL AS THAT WIDER ARRAY OF SERVICES AND
THE PLANNING PROCESS WAS QUITE ROBUST. OUR ECONOMIC DEVELOPMENT CONSULTANTS BROUGHT WITH US THEIR OWN STRATEGIES FOR HOW THEY DO THIS. THEY USE LOCAL INSIGHT AND
WITH COMMUNITY LEADERSHIP AND STAFF INCLUDING ALL OF YOU. WE HAD FOCUS GROUP DISCUSSIONS AS WELL AS STAKE OVER AND STAKEHOLDER INTERVIEWS WITH OUR PARTNERS ROUNDTABLES WORKSHOPS.
THEY LOOKED AT DATA AND THEN THEY ALSO THEIR OWN EXPERIENCE. SO IN THE PLAN WE HAVE A NUMBER OF BEST PRACTICES AND CASE STUDIES INCLUDED AS WELL
. THEY ALSO LOOKED AT SOME OF PAST PLANS AND INCORPORATED SOME OF OUR FUTURE PLANS TO PARTICULAR INCLUDE BLOOMINGTON SUMMER TOGETHER, WHICH IS THE CITY'S STRATEGIC THAT WAS
ADOPTED IN 2022 AND THAT INCLUDED THE PRIORITIES OF EQUITABLE ECONOMIC DEVELOPMENT AND A CONNECTED AND WELCOMING BOTH OF WHICH ARE VERY RELEVANT TO THE PORT AUTHORITY'S WORK. AND THEN THE CITYWIDE CREATIVE
PLACEMAKING PLAN WHICH IS BEING COMPLETED NOW IN PARALLEL AND THAT INTEGRATES EFFORTS TO BUILD A THRIVING AND LIVABLE COMMUNITY AND YOU'LL SEE ELEMENTS OF THAT PLAN INTO THIS ONE AS
WELL AS CREATIVE PLACEMAKING IS VERY MUCH A PART OF OUR TEAM. WE HAD 18 IN-PERSON MEETINGS. WE HAD A STEERING COMMITTEE THAT MET SIX TIMES. ALL OF THOSE VIRTUAL
ENGAGEMENTS AND THEN 130 PARTICIPANTS AND SOMETHING THAT WAS A LITTLE DIFFERENT ABOUT THIS PLAN VERSUS OTHER PLANS THAT YOU MAY HAVE SEEN COME THROUGH THE CITY. IS THAT WE REALLY FOCUSED ON THE BUSINESS COMMUNITY SO IT'S
PEOPLE WHO OWN OR OPERATE BUSINESSES HERE RATHER THAN FOCUSING ON THE RESIDENTS. THEY ARE STILL VERY IMPORTANT . WE WANT TO CREATE A LIVABLE COMMUNITY FOR THEM BUT WE REALLY WANTED TO GET THE BUSINESS PERSPECTIVE FOR THIS
PLAN. THOSE ARE THE MEMBERS OF OUR STEERING COMMITTEE. WE HAD EVERYONE FROM YUSUF ALI FROM THE ZAWADI CENTER TO WHO ARE YANG HOFFMAN FROM HEALTH PARTNERS REALLY TRIED TO GET A
WIDE VARIETY OF LARGE AND SMALL COMPANIES AS WELL AS REAL ESTATE DEVELOPERS LIKE MARC FABLE FROM MCGUFF SOME THEMES THAT EMERGED FROM OUR
PLANNING PROCESS INCLUDING EQUITABLE GROWTH MEANING ACROSS THE ENTIRE CITY AND ALL OF DIFFERENT BUSINESSES AND EMPLOYEES THAT MAY WORK IN THEM. LOOKING AT SMALL BUSINESSES WHICH WE WERE ALREADY DOING
THINKING SUPPLY CHAINS THAT MIGHT CONNECT TO SOME OF OUR EMERGING LIKE SEMICONDUCTORS. AND OF COURSE LOOKING AT OUR REAL ESTATE AND
ENTREPRENEURSHIP AND INNOVATION INNOVATION AND MOVING FROM THAT THEY DID CREATE FOR US ECONOMIC DEVELOPMENT STRATEGIC PLAN.
IT'S BUILT ON A FEW INCLUDING OUR ECONOMIC VISION STATEMENT WHICH IS DIFFERENT FROM MISSION STATEMENT WHICH I WILL COME BACK TO OUR GUIDING PRINCIPLES, OUR ACTION PLAN.
THE VISION STATEMENT IS THAT BLOOMINGTON IS A LEADING CENTER IN THE REGION FOSTERING INNOVATION, SUPPORTING LOCAL BUSINESSES AND ENHANCING THE QUALITY OF LIFE FOR ALL RESIDENTS THROUGH EQUITABLE STRATEGIC AND SUSTAINABLE
DEVELOPMENT. AND THAT IS MEANT TO INSPIRE WE DO AND REALLY BRING US TOGETHER OVER THE IDEA THAT BLOOMINGTON IS A LEADER AND THAT WE ARE AN ECONOMIC FORCE
IN THE REGION EVEN THOUGH WE'RE PART OF THE TWIN CITIES. I KNOW JAMEY LIKE TO CALL IT THE TRI OR COOPETITION. HE HAD A NUMBER OF REASONS FOR THIS BUT BLOOMINGTON INTENDS TO BE A PLAYER AND BE KNOWN ON
ITS OWN. WE HAVE A FEW GUIDING PRINCIPLES THAT WE CAN ALWAYS COME BACK TO AS WE MAKE DECISIONS AROUND THE PLAN INCLUSIVE AND EQUITABLE GROWTH AGAIN MAKING SURE THAT
EVERYONE IS CONSIDERED WHEN WE CREATE PROGRAMS AND THAT OUR PROGRAMS INTENTIONALLY REACH ALL TYPES OF AUDIENCES SUSTAINABLE ABILITY BOTH ENVIRONMENTAL AND ECONOMIC RESILIENCE COLLABORATION
SERVICE COLLABORATION IS VERY IMPORTANT TO US AS WE DO OUR ECONOMIC WORK WE DO IT WITH A LOT OF PARTNERS WHETHER THAT'S DEDE GREATER MSP HENNEPIN COUNTY NEXT STAGE WE CANNOT DO
THE WORK THAT WE DO BY OURSELVES WE NEED THAT EXPERTIZE, WE NEED COOPERATION AND THEN SERVICE CAME FROM THE STAFF THE AUTHORITY STAFF TAKE A LOT OF PRIDE IN THE CUSTOMER SERVICE THAT THEY ARE ABLE TO
OFFER BUSINESSES COMING THROUGH AND WE REALLY WANT TO ELEVATE THE REPUTATION OF BLOOMINGTON AS A PLACE WHERE IT IS EASY TO DO BUSINESS OR OPEN A BUSINESS. SO WE INCORPORATED THAT AND THEN ACCOUNTABILITY IS TO MAKE
SURE THAT WE ARE TRACKING EVERYTHING WE DO WITH THIS PLAN AND WE ENDED UP WITH EIGHT OBJECTIVES THAT I'LL GO
MORE INTO DETAIL IN BUT THEY INCLUDE TRADE AND SECTORS WHICH ALSO MEANS LARGE BUSINESS SMALL BUSINESS INNOVATION WHICH ALSO MEANS ENTREPRENEURS SHIP THRIVING PLACES WHICH TO US IF WE'RE GOING TO DO ECONOMIC DEVELOPMENT LET'S GROW A PLACE WHERE PEOPLE WANT TO BE REAL ESTATE AND INFRASTRUCTURE OR TALENT ATTRACTION AND
RETENTION, WRAPAROUND SERVICES AND MARKETING AND EVENTS. SO EACH OF THESE HAS STRATEGIES INCORPORATED WITH IT. I'LL TRY TO GO QUICKLY BUT WITH THOSE LARGE EMPLOYERS
THIS IS A REAL FOCUS IN A WAY WE HAVEN'T QUITE BEEN ABLE TO DO BEFORE ON BUSINESS RETENTION AND THAT MEANS VISITING OUR LARGE EMPLOYERS AND MAYOR BUSSEY YOU'RE GOING TO FEATURE PROMINENTLY IN A
LOT OF THESE PHOTOGRAPHS SO JUST GET COMFORTABLE WITH IT AND THEN WE'RE IN THE SAME THING. SO THIS IS VISITING TOMORROW BUT MAKING SURE THAT WE ACCEPT INVITATIONS TO THESE LARGE
EVENTS SO WE ARE ANNUALLY VISITING OUR LARGE EMPLOYERS AS WELL AS MAKING A POINT TO VISIT KEY INDUSTRIES KEY COMMERCIAL NODES WE VISITED 15 OF OUR LARGER EMPLOYERS LAST YEAR.
WE ALSO TRACKED THE NEWS SO WHEN WE HEARD OF NEW BUSINESSES COMING TO TOWN LIKE TUESDAY WE COULD BE THE FIRST PEOPLE TO REACH OUT AND WELCOME THEM. BUSINESS RECRUITMENT IS SOMETHING WE DO WITH OUR PARTNERS AT D2 AND GREATER MSP
WHEN WE GET A SITE SELECTION INQUIRY OR RFI WE ARE MOVING QUICKLY TO SEE BLOOMINGTON THE RIGHT PLACE FOR THIS BUSINESS. IS THIS WHAT WE WANT HERE IN BLOOMINGTON MAKING SURE WE CAN RESPOND AND PARTNERSHIPS.
WE'VE MENTIONED THE MANY TIMES WE HAVE A NUMBER OF PARTNERS THAT DO THIS WORK WITH US SMALL IS SOMETHING WE'VE BEEN GROWING FOR THE LAST 2 TO 3 YEARS UNDER THE LEADERSHIP. BARB WOLFE, THE ASSISTANT PORT AUTHORITY ADMINISTRATOR WE'RE
OFFERING VERY DIRECT SUPPORT TO BUSINESSES NOW AND ADVOCACY. WE ARE DOING SOME REALLY ON WORK TO HELP PEOPLE GET THROUGH THE PERMITTING PROCESS . WE'RE PLANNING TO HAVE AN ANNUAL BUSINESS FORUM. WE'RE ALSO LOOKING TO OUR
PERMITTING PROCESS. IT'S AN ONGOING PROJECT THAT WE ARE DOING BUT WE HAVE OUR COLLEAGUES ACROSS COMMUNITY DEVELOPMENT ON BOARD WITH US AND LOOKING AT PERHAPS AT A BI
LOCAL CAMPAIGN INNOVATION IS ENTREPRENEURSHIP. WE HAVE SPENT A LOT OF TIME OVER THE LAST YEAR AND A HALF STUDYING THE SMALL BUSINESS WHO ARE THE PLAYERS? WHO ARE THE FUNDERS?
HOW DO THEY WORK TOGETHER? WE INTEND TO DO THE SAME THING FOR THE ENTREPRENEURIAL SPACE WHICH IS LITTLE BIT DIFFERENT. SMALL BUSINESS IS MEANT TO SERVE LOCAL MARKETS BUT ENTREPRENEURSHIP ARE MEANT TO
GROW AND EXPAND BEYOND THE BORDERS OF BLOOMINGTON AND SO THAT IS SOMETHING WE ARE EXCITED TO SPEND TIME ON. I'M HAPPY TO SEE THE MAYOR AND
A DIFFERENT CAST IN THERE ENTHUSIASTIC YES. DO WE UNDERWRITE HIS WARDROBE SO YOU DON'T WANT TO KNOW
ABOUT IT KEEPS GETTING STUCK I'M SORRY. ALL RIGHT. SO THE OBJECTIVE FOR THRIVING PLACES AGAIN AS WE MENTIONED, WE WORK CLOSELY WITH OUR PLACEMAKING TEAM TO MAKE SURE THAT THE PLACES THAT WE ARE
TRYING TO ECONOMICALLY GROW ARE ALSO LIVABLE, CONNECTED GREEN THAT THEY HAVE PUBLIC SPACES ASSOCIATED WITH THEM AND THAT EVEN THE COMMERCIAL AREAS LIKE OUR COMMERCIAL ARE
ATTRACTIVE AND PEOPLE WANT TO WALK TO THEM, SPEND TIME THEM. WE'VE ALREADY STARTED DOING SOME OF THIS WORK THROUGH OUR FACADE GRANT PROGRAM. WE WILL CONTINUE TO FOCUS ON THIS CREATIVE PLACEMAKING IS ALSO ITS OWN FIVE YEAR OR IT'S
OWN STRATEGIC PLANNING PROCESS WHICH WILL MOVE ITS CAPABILITIES CITYWIDE. SO WE LOOK FORWARD TO WORKING TOGETHER AND THEN REAL ESTATE AND INFRASTRUCTURE REAL ESTATE OF COURSE IS THE BREAD AND
BUTTER OF THE PORT AUTHORITY. THIS IS WHAT THE PORT AUTHORITY REALLY BUILT ITSELF AROUND AND SO WE'LL CONTINUE TO OFFER THOSE DEVELOPMENTS SERVICES AS WELL AS ASSIST WITH AFFORDABLE HOUSING DEVELOPMENTS ALONGSIDE
COLLEAGUES AT THE HRA BEGIN TO LOOK AT LAND BANKING AND STRATEGIC WAYS WE'RE GOING TO BE BUILDING THAT STRATEGIC ACQUISITIONS FUND THIS YEAR AND THEN SUPPORT INFRASTRUCTURES EXPANSION LIKE
SEWER CAPACITY, OTHER CRITICAL NEEDS FOR GROWTH HERE IN THE CITY TALENT RETENTION AND ATTRACTION THIS IS A SOMEWHAT NEW AREA FOR US TALENT FOCUS
PROMOTION SOMETHING THAT THE STATE HAS BEEN DOING WITH THIS NEW STAR OF THE NORTH CAMPAIGN AND SOMETHING THAT WE ARE HOPING TO DO A LITTLE BIT OF WITH OUR COLLEAGUES AT BLOOMINGTON, MINNESOTA TRAVELING AND OTHER MARKETING PARTNERS.
WHY WOULD PEOPLE WANT TO COME BLOOMINGTON? WHY WOULD THEY WANT TO STAY IN BLOOMINGTON PARTNERING OUR EDUCATIONAL INSTITUTIONS TO MAKE SURE STUDENTS KNOW THAT THIS IS A VIABLE TO WORK AND
LIVE AND WE'VE ALREADY STARTED DOING SOME OF THAT WORK WITH THE BLOOMINGTON ECONOMIC PARTNERSHIP, WHICH WAS THE MAYOR'S WORKFORCE WHAT'S IT CALLED COUNCIL PARTNERSHIP
THAT SOUNDS GOOD. AND ALSO MAKING OUR TALENT WANT TO STAY SO PART OF WHAT WE DO WHEN WE DO THESE BUSINESS ENGAGEMENT VISITS WITH OUR LARGE EMPLOYERS IS SHARE WITH THEM SOME OF THE OPPORTUNITIES THAT THE WHETHER
THAT'S VOLUNTEERISM OR THE LEARN TO LEAD PROGRAM MAKING SURE THAT PEOPLE FEEL CONNECTED. WRAPAROUND SERVICES OF COURSE
FOR EMPLOYEES TO THRIVE HERE THEY NEED TO BE ABLE TO FEEL SUPPORTED, HAVE THE TRAINING THEY NEED, POTENTIALLY HAVE CHILD CARE HERE AND HOUSING HERE AND BE ABLE TO GET TO THEIR JOBS.
IT'S NOT ALL OF THOSE THINGS ARE SO SIMPLE IN A DISTRIBUTED SUBURB LIKE THIS AND SO THESE ARE ALL AREAS WHERE THE PORT MAY NOT NECESSARY EARLY LEAD BUT WE WANT TO BE CONNECTED TO THE PLAYERS IN THIS COMMUNITY
THAT ARE ON THESE PROBLEMS. ONE EXAMPLE MIGHT BE THAT GREATER MSP HOPING TO GATHER A GROUP TO DO A CHILD CARE FEASIBILITY STUDY TO ESPECIALLY SUPPORT HIGH TECH MANUFACTURING WHERE THERE ARE
24 HOUR SHIFTS. AND THAT'S SOMETHING THAT THE PORT COULD PLAY A ROLE IN WHETHER THAT'S FINANCIALLY SUPPORTING OR MAKING SURE THEY'RE CONNECTING TO OUR EMPLOYERS. THEY CAN GIVE INPUT AND
FINALLY MARKETING AND EVENTS THIS IS ANOTHER THING THAT WE'VE REALLY STARTED TO BUILD UP WITH OUR COMMUNICATIONS TEAM HERE IN BLOOMINGTON. THEY HAVE DONE A GREAT JOB STORIES ABOUT THE CITY AND
IT'S BEGINNING TO PAY DIVIDENDS THIS IS A RECENT FINANCE AND COMMERCE ARTICLE ABOUT BLOOMINGTON HAVING MULTIPLE WITH STRONG DEVELOPMENT PROSPECTS AND THEY'VE ALLOCATED $90,000 FOR
AN RFP TO DO CONSULTING TO REALLY PROMOTE THE ECONOMIC DEVELOPMENT PROSPECTS HERE IN BLOOMINGTON EVENTS THE WORLD CAN REALLY BE OUR OYSTER. IT COULD AN INDUSTRY EVENT AROUND THE SEMICONDUCTOR
INDUSTRY THAT'S SOMETHING THAT IMAGINE COMES OVER TIME PROBABLY NOT IN THE FIRST YEAR OR TWO BUT SOMETHING WE'D LIKE TO WORK WITH OUR PARTNERS AT BLOOMINGTON, MINNESOTA AND TOURISM ON.
AS I MENTIONED AT THE BEGINNING THERE ARE ADDITIONAL ELEMENTS THIS PLAN YOU'VE ALL RECEIVED THE EXECUTIVE SUMMARY WHICH IS JUST A TWO PAGE DOCUMENT THAT YOU CAN QUICKLY
TO OR SHARE WITH OTHERS ABOUT THIS PLAN WHAT IT IS THAT WE'RE DOING WE DID IT. WHAT'S THE GREATER CONTEXT HERE? WE HAVE A STAFFING PLAN THAT
WE ALSO SHARED WITH YOU THIS IS ALSO MEANT TO EVOLVE OVER TIME BUT YOU'LL SEE IT'S PRETTY SIMILAR TO WHAT WE HAVE STRUCTURED. WE HAVE OUR WORKFORCE DEVELOPMENT COORDINATOR IN HERE OR SON'S POSITION AS THE BLOOM FACILITATOR AS A
IT'S A TEMPORARY POSITION BUT WE HOPE IT BECOMES A PERMANENT POSITION AND THEN DOWN THE ROAD WE ARE CONSIDERING ADDING A PROJECT FACILITATOR OR PERHAPS A COMMUNICATION SPECIALIST TO THE PORT THAT IS
TO BE DETERMINED BUT WE DON'T WANT TO GROW TOO FAST. THE PORT HAS ALREADY GROWN SIGNIFICANTLY THE LAST TWO YEARS BUT THAT'S SOMETHING WE MAY CONSIDER AS WE MOVE
FORWARD WITH THIS PLAN AND THEN THE IMPLEMENTATION MATRIX . THIS IS A TOOL THAT WAS BUILT FOR US BY TYPE STRATEGIES THIS A MATRIX THAT HAS EACH OF THE
OBJECTIVE AREAS, ALL OF THE PARTNERS THAT WE'LL BE WORKING WITH AND WHEN WE PLAN TO START THIS ACTION WHETHER IT'S IN SIX 0 TO 6 MONTHS, 6 TO 12 1 TO 3 YEARS OR 3 TO 5 YEARS
WE'LL BE TRACKING STATUS AND THIS IS SOMETHING WE'LL BE USING AS A TEAM REGULARLY TO LOOK AT THE TASKS THAT WE ARE DOING AND IT'S FLEXIBLE WE DID NOT WANT THIS TO BE SET IN STONE.
WE WANT TO BE ABLE TO REACT TO MARKET. THE WORLD IS CHANGING VERY QUICKLY AND WE MAY NEED TO OVER TIME THERE ALSO I WILL
SAY THERE WILL BE AN ONLINE DASHBOARD THAT WILL BE ABLE TO BUILD BE GIVEN THE TOOLS TO DO SO. BUT COMMUNITY DEVELOPMENT IS CURRENTLY UNDERGOING ITS OWN PROCESS OF GATHERING DATA AND DECIDING WHAT DATA IT WANTS TO
ON. SO THAT'S SOMETHING WE WANT TO DO IN CONCERT WITH COMMUNITY DEVELOPMENT TO SURE THAT WE ARE WORKING TOGETHER.
YES, YOU CAN SIMPLY AS WE LOOK AT THAT LAST TEMPLATE YOU HAD WHO'S GOING TO BE UPDATING THAT WAS TASKED WITH MONITORING IT WAS TASKED WITH
HAVING ONGOING DISCUSSIONS WITH THAT WILL BE UPDATING AS A TEAM AND MONITORING THAT AS A TEAM WILL BE THE IS TO LOOK AT THIS QUARTERLY BUT THAT
MIGHT BE AMBITIOUS IT MIGHT BE AN EVERY SIX MONTHS TYPE OF THING BUT WE WOULD LIKE TO BRING IT TO THE PORT AUTHORITY IS A LOT TO TAKE IN SO I THINK WE NEED TO WORK A WAY TO STREAMLINE IT AND JUST SHOW YOU WHAT IS A PRIORITY FOR ANY
GIVEN YEAR. AND I THINK THAT'S THAT'S SOMETHING THAT BEARS MORE THOUGHT AND I THINK IT WILL MATTER. WE CAN HAVE ONGOING DISCUSSIONS ABOUT WHAT THE PORT AUTHORITY COMMISSION
THINKS IS IMPORTANT AND WHAT YOU ALL WOULD LIKE TO SEE REPORTED ON REGULARLY. WELL, I THINK SOMEONE ANTICIPATED THAT WITH YOU. YOU SAID YOU'RE GOING TO HAVE A DASHBOARD OR SOMETHING AND
THEN THE LOGICAL THING THEN WOULD BE TO HAVE THIS LINK TO THE DASHBOARD AND LOOK AT IT BUT AGAIN WE LOOK THROUGH THIS AND THERE ARE SO MANY INDIVIDUAL ITEMS THAT YOU'RE
TALKING ABOUT THAT IT GETS TO BE DIFFICULT TO COMMUNICATE ABOUT EACH ONE AND TALK ABOUT THEM. AND ALSO IT'S A MATTER OF PRIORITIZING AND MAKING SURE THAT WE ACCOMPLISH THE
THINGS THAT WE WANT TO THAT YOU WANT TO ACCOMPLISH IN THE CITY AND IT WANTS TO ACCOMPLISH. SO I THINK THAT'S GOING TO BE VERY PART OF THE PROCESS AND
ONE OF THE REASONS WHY I WANT US TAKE SOME TIME IF WE NEED IT AND LOOKING AT THE WORK PLAN AND THINK ABOUT HOW WE
CAN INTERACT AND LOOK AT THAT . THANK YOU PRESIDENT ERICKSON AND COMMISSIONER HUNT'S AND YES, THIS I THINK OVER THE NEXT FIVE YEARS WE WILL WORK TOGETHER VERY CLOSELY TO REFINE WHAT THAT PROCESS LOOKS
LIKE. IT IS IT IS A LARGE AMOUNT OF INFORMATION EIGHT OBJECTIVES WITH 2 TO 3 BULLETS UNDERNEATH THEM AND UNDERNEATH THAT IT'S A LOT TO WORK ON SO
WE DON'T HAVE IT PERFECTLY PLANNED YET. I WILL ADMIT IT. BUT THIS IS SOMETHING THAT WE'RE LOOKING FORWARD TO
WORKING ON TOGETHER SO STEPS INCLUDE THIS EVENING WE'D LIKE TO ASK YOU TO ADOPT THE ECONOMIC DEVELOPMENT STRATEGIC PLAN AND THEN IN RELATION TO
THIS NEXT SESSION WHICH WE MAY DISCUSS IN THE HAGUE INSTEAD OF HERE FOR EASIER DISCUSSION WE'D LIKE TO DISCUSS APPROVE THE PORT AUTHORITY MISSION STATEMENT. WE HAVE GONE THROUGH SEVERAL
DRAFTS OF THAT WITH OUR CONSULTANTS AND HAVE ONE THAT WE'D LIKE TO PROPOSE TO YOU FOR DISCUSSION FROM THERE. WE LOOK FORWARD TO CELEBRATING THE ECONOMIC DEVELOPMENT STRATEGIC PLAN AND SHARING WITH STAKEHOLDERS IN FEBRUARY
AND MARCH. BRAZIL AND THEN ON AN OKAY AND THEN WE'RE LOOKING TO FINALIZE THAT IMPLEMENTATION MATRIX THAT YOU SAW AT LEAST THE
FIRST VERSION BY THE END OF MARCH OR THE FIRST QUARTER OF THIS YEAR AND THEN WE'LL BE SINKING THAT NEW ONLINE DASHBOARD WITH DATA THAT EMERGES FROM OUR PRIORITIZATION IN THE IMPLEMENTATION MATRIX AS WELL
AS DATA THAT THE COMMUNITY TEAM IS IDENTIFYING AS IMPORTANT AS WELL AND THAT HAPPEN OVER THE SPRING AND SUMMER OF THIS YEAR AND WITH
THAT I STAND FOR QUESTIONS, QUESTIONS, COMMENTS COMMISSIONER NELSON THANK YOU.
I JUST HAVE FOUR VERY SLOW QUESTIONS. YOU REMIND ME OF WHAT TRADED SECTORS I DEFINE THAT AND WHAT YOU LOOK THAT'S THAT THAT'S A GOOD QUESTION. ABSOLUTELY.
YES. THAT'S WHY I HAVE TO SLOWLY PRESIDENT ERICKSON, COMMISSIONER NELSON COMMISSIONER I'VE ALREADY ASKED HER SEVERAL TIMES PRIVATELY TRADED SECTOR IS
MEANS THAT IT IS INDUSTRY THAT CAN BE SOLD OUTSIDE OF THE BOUNDARIES OF BLOOMINGTON BUT THE EASIER WAY TO THINK OF IT IS OUR LARGE EMPLOYERS ARE TOROS ARE SEMICONDUCTOR
MANUFACTURERS AND ALSO PROFESSIONAL SERVICES THAT CAN BE SOLD OUTSIDE TO LOOK THANK YOU ALONG THOSE LINES JUST A
COMMENT AS THE PLAN FURTHER DEVELOPS AND GOES ALONG I HOPE WE FOCUS IN ON THE INDUSTRIES WE WANT TO FOCUS ON AND NOT TRY TO JUST BE EVERYTHING TO EVERYBODY. WE HAVE SOME REALLY GOOD BASE
ALREADY AND WE SHOULD REALLY FOCUS IN ON WHERE WE CAN MAKE THE MOST AND I THINK THERE'S SOME OTHER SUPPLEMENTAL INFORMATION IN TERMS OF WHERE PEOPLE ARE EMPLOYED AND THE STUFF IN THIS REPORT BUT MY
COMMENT IS DON'T TRY TO BE EVERYTHING WE'VE GOT SOME GREAT INDUSTRIES WHERE CAN WE EXPAND THOSE? SECOND THING IS SO IN OBJECTIVE FIVE THERE WAS A HOUSING MARKET TALKED ABOUT
AFFORDABLE HOUSING. OBJECTIVE SEVEN TALKED ABOUT HOUSING A LITTLE BIT MORE BROADLY BUT THEN REFERRED BACK TO AFFORDABLE HOUSING. WHAT CONSIDERATION OR I GUESS
JUST A COMMENT YOU CAN ANSWER IT IF YOU WANT. MY OPINION IS WE SHOULD BE AT ALL TYPES OF HOUSING BECAUSE AS WE LOOK AT DIFFERENT THINGS WE'RE TRYING TO BRING IN GOOD
JOBS FOR PEOPLE THAT THEY CAN LIVE ON. WE WANT GOOD HOUSES THAT THEY WANT TO LIVE INTO AND NOT AFFORDABLE HOUSING IS ABSOLUTELY CRITICAL AND I'M VERY SUPPORTIVE OF THAT HAS
BEEN YOU KNOW THROUGHOUT MY TENURE WE ALSO NEED HOUSING FOR PEOPLE THAT DON'T NEED THAT AFFORDABLE COMPONENT THAT WANT TO BE HERE BECAUSE WE'VE GOT THE MOST AMAZING PARK SYSTEM IN THE STATE.
WE WANT TO HAVE A REASON FOR THEM TO BE HERE AND MAKE SURE WE HAVE THAT HOUSING FOR THEM. SO THAT'S JUST COMMENT AND THEN OBJECTIVE SEVEN BUT THE WRAPAROUND SERVICES TWO POINTS
ON THAT I'LL LOOK AT HOW WE CAN PARTNER WITH OUR SCHOOLS THE NUMBER ONE DETERMINANT OF WHERE A FAMILY MOVES IS THE SCHOOL SYSTEM AND WHATEVER CAN
DO TO SUPPORT OUR LOCAL SCHOOLS HERE WILL BENEFIT EVERYTHING WE DO IN TERMS OF WORKFORCE. SO LIKE REGARDLESS OF THE TALENT RETENTION ATTRACTION TO
LAST ONE IS LOOK AT THE OTHER DEPARTMENTS IN THE CITY PARK AND REC. I THINK ONE OF OUR BIGGEST OPPORTUNITIES IS EITHER YOUTH AND OR AMATEUR TYPE THINGS.
WE'VE GOT GREAT PARKS, WE'VE GOT WE'RE RENOVATING BIG WE'VE GOT THESE THE ABILITY TO ATTRACT THESE TYPES OF EVENTS AND CANDIDLY I DON'T KNOW WHERE ELSE YOU WANT TO GO THAN
BLOOMINGTON, YOU KNOW, WITH THE MALL OF AMERICA AND HAVING BROUGHT MY KIDS TO MANY PLACES HAVING A PLACE LIKE THAT WHERE THE SIBLING HAS STUFF TO DO WELL OTHER ONE IS PLAYING IS
AN AMAZING OPPORTUNITY I THINK IT TIES IN SOME OF THE CONVERSATIONS ABOUT YOU KNOW, AN EVENT TYPE OF COMPLEX SO I DON'T KNOW I WILL SAY THAT OUT LOUD OF AND THEN THE OTHER ONE
IS COMMS WORK WITH OUR COMMUNICATION DEPARTMENT FOR PUBLIC RELATIONS AND LET THE WORLD KNOW THAT THIS IS BLOOMINGTON, MINNEAPOLIS SAINT
PAUL NOT THE OTHER WAY AROUND. SO I I BRING IT UP EVERY TIME SOMEONE BRINGS UP MINNEAPOLIS SAINT PAUL LIKE YOU FORGOT THE MOST IMPORTANT ONE. SO THOSE ARE MY COMMENTS ON IT
I THINK I THINK IT'S OVERALL REALLY GOOD. I KNOW LIKE ANY OTHER TYPE OF DOCUMENT IT'S GOING TO EVOLVE AND GET FLUSHED OUT BUT THOSE ARE KIND OF MY COMMENTS ON WHAT I SEE IN THE DRAFT
HERE. MR. KELLER I WOULD LIKE TO ECHO A COUPLE OF THINGS. I FLATTER MYSELF THAT I'VE BEEN A CONSISTENT SUPPORTER
OF THE AFFORDABLE HOUSING FRONT AND MANIFESTED SIMILAR SENTIMENTS WHEN IT COMES TO
HOW WE LOOK AT THE RETURN WE GET ON CERTAIN INVESTMENT EXPENDITURES, SALES DEVELOPMENT, WHAT HAVE YOU. HAVING SAID THAT, I DO AGREE
WITH YOU THAT WE NEED TO CONSIDER ALL TYPES OF HOUSING AND I SUSPECT THERE'S A RELATIONSHIP BETWEEN OUR TAX
BASE AND THE VARIOUS STREET ECONOMIC STRATA OF HOMES RESIDENCES WE HAVE HERE AND I
DON'T WE CAN SUPPORT ONE WITHOUT THE OTHER OR SHOULDN'T SUPPORT CERTAINLY WITHOUT THE OTHER. BUT I DON'T THINK WE CAN DO ALL OF THAT ANY OF THAT SEPARATELY AND BE SUCCESSFUL.
SO I DON'T THINK I'VE HEARD ANYONE BUT YOU SAY THAT AND NOT PERHAPS ALL THINKING IT AT THE SAME TIME BUT I THINK THAT
IS REALLY AN IMPORTANT POINT TO MAKE AND THAT PARTICULARLY ROLLS INTO THE SCHOOL SYSTEM. I THINK HAVING PUT KIDS THROUGH SCHOOL HERE AS I THINK MOST OF US HAVE SO KUDOS ON
THAT AND I HOPE WE KEEP THAT IN OUR INDIVIDUAL MINDS AS THAT MOVES FORWARD. OTHER COMMENTS I LIKE TO
COMMENT ON THE SCHOOL THINGS. IT'S BEEN HEAVILY INVOLVED OUR TO BLOOMINGTON SCHOOL DISTRICT BECAUSE WE HAVE ESPECIALLY ON THE EAST SIDE OF TOWN MANY
LOWER INCOME PEOPLE TEST SCORES TEND TO REFLECT SOMEWHAT THE ECONOMIC CIRCUMSTANCES. IF YOU LOOK AT BLOOMINGTON'S SCHOOLS AND HENCE SEGREGATED ARE SEPARATED OUT OF BY
ECONOMIC STRATA. BLOOMINGTON DO VERY WELL AND SO I THINK ONE OF THE THINGS THAT WE NEED TO DO IS IS REALLY TELL PEOPLE THAT THEY HAVE AN ADVANTAGE TO COME TO A
COMMUNITY LIKE BLOOMINGTON THAT HAS A MULTIPLICITY OF PEOPLE DIFFERENT BACKGROUNDS, DIFFERENT AREAS AND IT'S REALLY A MARVELOUS INTRODUCTION IN THAT OUR
SCHOOLS WILL PERFORM AS WELL AS ANYBODY GIVEN THE INCOME DISPARITIES THAT WE HAVE. AND IF YOU LOOK AT HIGH INCOME PEOPLE THERE, THEIR STUDENTS
DO VERY WELL. SO IT IS ONE OF THOSE THINGS I THINK THAT'S A CHALLENGE AND I'VE BEEN HARPING ON THE SUPERINTENDENT ON THIS FOR YEARS BECAUSE WE DON'T EVERYBODY WE JUST WANT TO USE AGGREGATE DATA OF DISAGGREGATING AND SOMETIMES IT DOESN'T TELL THE STORY SO IT GIVES US SOMETHING
THAT YOU AND I WOULD AGREE THAT THIS IS REALLY IMPORTANT IN LOCATING SO COMMISSIONER PETERSON, YOU'VE BEEN SITTING THERE VERY QUIETLY NEAR YOU USUALLY HE SOME VERY
THOUGHTFUL COMMENTS. DO YOU HAVE ANY? NO, I THINK I THINK THE DISCUSSION AROUND KIND OF THE SCHOOLS AND HOUSING IN OUR COMMUNITY IS A REALLY ONE THAT
THE THOUGHTS THAT I HAD IN GENERAL KIND OF ON THE PLAN IS I LIKE THE FACT THAT WE HAVE KIND OF A BROAD PLAN LIKE THIS WE IN THE PAST WE HAVEN'T HAD A REALLY KIND OF SOMETHING
AT THIS LEVEL AND SO I'M EXCITED ABOUT THE PLAN THAT'S BEEN PUT TOGETHER AND IT'S STARTING TO APPLY TO THE ONE THING I THINK ABOUT ON IT IS THAT BECAUSE IT'S SO BROAD I THINK WE'RE NOT GOING TO BE ABLE TO MAKE PROGRESS IN EVERY
SINGLE AREA AND SO AS WE START TO APPLY THINGS WE'RE GOING TO HAVE TO DO A LITTLE BIT OF PICKING AND CHOOSING WORKING ON SOME OF THAT WILL BE THE MARKETPLACE OR THE
COMMUNITY PICKING AND CHOOSING THINGS FOR US TO DO AS OPPOSED TO US DOING THE PICKING. BUT I THINK HAVING A PLAN LIKE THIS THAT'S CONSIDERED THINGS FOR RIGHT DIRECTIONS IS A REALLY USEFUL THING GOING
FORWARD. THANK YOU COMMISSIONER. ACTUALLY TO BIND ALL THAT STUFF TOGETHER THE THING I LIKE THE MOST IS THAT WE OUR PRINCIPLES AND I MIGHT AGREE
WITH YOU, MR. PETERSON. COMMISSIONER AND I THINK WE WILL HAVE TO MAKE CHOICES BUT WHEN YOU HAVE FIRST ORDER PRINCIPLES TO LOOK AT AT LEAST
THAT THOSE DECISIONS CAN BE MADE IN LIGHT OF THOSE THINGS ,IT'S ALWAYS BEEN A POINT OF FRUSTRATION FOR ME IN POLITICS THAT PEOPLE SEEM
TO BE VERY FLEXIBLE WITH THEIR PRINCIPLES ON THE INDIVIDUAL AXES OR BOARD PAMPERED AND I THINK WE WE CAN'T A SUCCESSFUL
PLAN LIKE THIS WITHOUT STARTING WITH REGARDLESS OF HOW HARD IT IS TO MEET GOALS SO AGAIN WOULD READ
BLINDLY AGREE WITH YOU MR. ROSSI THANK YOU. MR. PRESIDENT, FIRST OF ALL THANK YOU. CONGRATULATE ON THIS THIS IS FANTASTIC WORK AND THANK YOU TO YOU AND TO THE FOLKS AT TTIP STRATEGIES.
I THINK THEY DID GREAT JOB WITH THIS AND WERE GREAT PARTNERS WITH THIS. I REALLY APPRECIATE THE THE ROBUST WORK BEHIND IT THAT IT JUST WASN'T A START AT WHAT SHOULD BE DOING BUT RATHER A
REAL THOUGHTFUL PROCESS OF LOOKING AT WHAT WE HAVE OR WHERE WE'RE SHORT, WHERE WE MIGHT BENEFIT TO BRING THE GROUP TOGETHER THAT YOU BROUGHT TOGETHER AND TO BRING THEM ALONG WITH THE MEETINGS THAT YOU HAD AND THE DISCUSSIONS THAT YOU HAD WITH
ALL OF US AND I KNOW WHAT THE COUNCIL AND SO ON I THINK IT REALLY FORMED A GREAT FOUNDATION FOR THIS ENTIRE WHICH I THINK IS OUTSTANDING AND COMMISSIONER KELLER BEAT ME TO.
THE THE GUIDING PRINCIPLES I THINK ARE THE ARE THE LIGHT THE THE THE THE THE SEARCH LIGHT FOR THIS ENTIRE THING JUST TO KEEP IT FOCUSED. WHAT WE'RE TRYING TO
ACCOMPLISH AND TO USE THE PRINCIPLES WE USED TO WORK WITH SOMEBODY WHERE PRINCIPLES WERE THE MAIN THING IN ANY PLAN THAT WE HAD AND I LEARNED VERY WELL FROM THAT THAT IF YOU FOCUS EVERYTHING AROUND
THE GUIDING PRINCIPLES AND KEEP COMING BACK THEM AS YOU WORK THROUGH THE OBJECTIVES, AS YOU WORK THROUGH THE STRATEGIES AS YOU WORK THROUGH THE INDIVIDUAL SPECIFIC KIND OF WORK THAT YOU'RE LOOKING AT DOING IF, YOU CAN KEEP COMING
BACK TO THE GUIDING PRINCIPLES. IT'S JUST A IT'S A HUGE HELP AND A HUGE ANCHOR FOR THE ENTIRE IN THE ENTIRE PLAN. SO AND IF I INTERRUPT I'M SORRY. GOALS AND PRINCIPLES NOT
NECESSARILY THE SAME THING. GOALS ARE IN SERVICE OF PRINCIPLES. I THINK SOMETIMES WE COLLECTIVELY HUMANITY CAN CAN LOSE SIGHT OF THAT. AGREED.
SO KUDOS WELL DONE ON THIS AND WELL DONE TO YOUR ENTIRE STAFF FOR THEIR WORK IN PUTTING IT TOGETHER. EXTEND OUR THANKS TO OUR FRIENDS AT TIP STRATEGIES. I KNOW THEY WERE A GREAT BENEFIT TO THIS AND LOOKING
FORWARD TO PUTTING THIS INTO ACTION AND SPREADING THE WORD ON THIS BECAUSE I THINK IT'S AN EXCITING, EXCITING DOCUMENT. WELL DONE. THANK YOU. WELL, SPEAKING OF THAT, ANY OTHER GERSTNER COMMENTS
OTHERWISE I WOULD ENTERTAIN ON 45 OF YOUR PACKAGE. THERE'S THE EMOTION. MR. PRESIDENT WOULD MOVE TO ADOPT THE PORT AUTHORITY'S ECONOMIC DEVELOPMENT STRATEGIC PLAN.
WE HAVE A SECOND, MR. KELLER SECONDS. ANY FURTHER DISCUSSION. MARK , DO YOU WANT TO CALL THE ROLL ERICSON?
I BUSSEY I AND NELSON RUNS. HI. KELLER PETERSON. I BUSH AND KERRY SEVEN ZERO. OKAY, SO WE HAVE THE NEXT ONE
AS IN OUR ANNUAL REPORT. YOU KNOW HOW I AM JUST LOOKING AT THIS YET I THINK THE FINANCIALS AND BUDGET ADJUSTMENTS IS A FAIRLY SHORT .
COULD WE MOVE JUST REVERSE THE AND DO THAT ONE NEXT AND THEN BECAUSE I REALLY WANT TO MAKE SURE WE HAVE AN OPEN ENDED DISCUSSION ON ON OUR ANNUAL
WORK PLAN. SO IF ANYBODY HAS AN OBJECTION TO THAT WE CAN JUST MOVE THE BUDGET ADJUSTMENTS UP AND DO THAT.
PRESIDENT ERICKSON THAT IS FINE WITH ME SO WHY DON'T WE DO THAT ? GOOD EVENING.
TONIGHT I'M GOING TO GO OVER THE TWO BUDGET FUNDS FOR THE PART WHICH IS THE GENERAL FUND AND THE PARK DEVELOPMENT FUND. THANK YOU. SO WE'LL GO OVER THE PRELIMINARY 2024 AMOUNTS. THEY'RE NOT FINAL YET SINCE
THE ISN'T FINAL. AND THEN I ALSO HAVE A MOTION FOR BUDGET ADJUSTMENTS. OKAY.
SO LOOKING AT THE PARK GENERAL FUND JUST AS A REMINDER OF THE BUDGET 2024 INCLUDED 850,000 TRANSFER AND FOR THE OPERATING
AND 853,000 IN OPERATING. SO PRETTY MUCH BREAKING EVEN AT A NET LOSS OF 3817. IF YOU AT THE PRELIMINARY
ACTUALS THE TRANSFERS THE SOUTH THE FUND FOR OPERATING WAS 760,000. AND THE REASON IT'S LESS IS BECAUSE THE OPERATING EXPENSES WERE ALSO UNDER BUDGET. SO WE DID NOT NEED THE FULL
TRANSFER. THE NEXT ITEM IS THE TRANSFER FROM SOUTH LOOP FOR THE SEC GROUP. AND JUST AS A REMINDER THE SEC RAM TOTAL BUDGET WAS AROUND 18
MILLION. HALF OF IT WAS TO COME FROM THE CITY ITSELF FOR WHATEVER REASON. IT'S NOT COMING UP ON OUR SCREENS HERE.
WELL WELL, I DON'T KNOW IT'S THERE SO THERE IT IS. THANK YOU.
OKAY. SO CITIES TO THE GENERAL FUND NOW WE CAN SEE THE GENERAL FUND BUDGET THERE NOW. OKAY. SO UP IN THE REVENUE SECTION
ANOTHER PRELIMINARY ACTUALS THERE'S 8,000,239 MILLION COMING IN FOR THE SEC ROUND. SO HALF THE SEC ROUND IS GOING TO BE PAID BY THE CITY'S SOUTH
LOOP FUND AND THE OTHER HALF IS COMING FROM THE PARTS TWO FUNDS. AND SO FROM TALKING WITH OUR OTHERS FROM RED PATH SINCE SUPPORT WAS ON THE RAMP AT THE END OF IT THEIR SUGGESTION WAS
THAT WE TRANSFER THE MONEY FROM THE SOUTH TO FUND. I DIDN'T TOUCH OF AND THEN PAY
ALL THE EXPENSES OF PART SINCE PART WILL BE THE OWNER. SO THAT TRANSFER IN 8 MILLION IS OFFSET BY THE CAPITAL OUTLAY EXPENSE FOR THE GROUP. SO THAT'S BASICALLY THE CITY'S
PORTION COMING FROM THE SOUTH LOOP FUND ALSO IN THE REVENUES THIS YEAR WE STARTED TO ALLOCATE INTEREST TO BOTH THE GENERAL FUND AND THE PARK DEVELOPMENT FUND.
IN THE PAST ANY CASH BALANCES WOULD HAVE BEEN PRETTY IMMATERIAL BUT WITH THE DEVELOPMENT FUND GROWING AND WITH THE TRANSFER AND FOR THE SEC RAMP THERE IS MORE OF A CASH BALANCE. SO WE STARTED ALLOCATE
INTEREST TO BOTH THESE FUNDS. INTEREST RATES HAVE ALSO GONE UP A LITTLE BIT WHICH HELPS OR HURTS. YEAH THE MONEY MARKET IS STILL EARNING 4.5% SO THAT'S
DEFINITELY A GOOD YEAR. SO THEN LET ME GO DOWN TO THE EXPENSES. YOU CAN SEE THE SALARIES, WAGES AND BENEFITS WAS UNDER BUDGET BY HUNDRED AND 54,000
AND THAT'S BECAUSE THE BUDGET MAKES SOME ASSUMPTIONS ABOUT HOW EMPLOYEES WILL ALLOCATE THEIR TIME IN THE NEXT YEAR. SO THOSE ASSUMPTIONS WOULD HAVE BEEN DONE IN MAY OF 2023
AND SO A LOT CAN HAPPEN BETWEEN 2023 AND 2024. SO IF YOU THINK ABOUT THE WATER PARK FOR INSTANCE IF OUR PROJECT HAD MOVED FASTER THE
PROBABLY WOULD HAVE BEEN MORE TIME CODED HERE AND SAID UP SPENDING MORE TIME ON GENERAL CITY ACTIVITIES. SO WHEN WE GET TO THE DEVELOPMENT FUND YOU'LL SEE SALARY EXPENSES OVER BUDGET
THERE BUT IT'S OFFSET BY BEING UNDER BUDGET THE GENERAL FUND MATERIAL SUPPLIES AND SERVICES WAS UNDER ABOUT 30,000. AND THEN ONCE AGAIN THE GROUP
HAD EXPENSES OF 8.2 MILLION. SO FOR THE GENERAL FUND OUR BUDGET REQUEST IS TO APPROVE THE OPERATING TRANSFER
IN 4,239,000 AND TO APPROVE CAPITAL OUTLAY EXPENSE FOR THE SIT GROUP THE 8,239,000 AND
THEN LOOKING AT THE DEVELOPMENT FUND ON THE BUDGET IT REVENUES WAS 1 MILLION 545 AND THE BUDGET EXPENDITURES WAS 1,000,894.
REVENUES WERE PRETTY CLOSE TO BUDGET. PROPERTY TAXES IN JUST A LITTLE BIT UNDER DUE TO DELINQUENCIES BUT THEN WITH A
LITTLE BIT OF INTEREST REVENUE . SO TOTAL REVENUES WAS JUST UNDER BUDGET BY ABOUT 3000. LOOKING AT EXPENSES IS ONCE AGAIN DUE TO EMPLOYEES
ALLOCATING THEIR TIME MORE TO DEVELOPMENT FUND SALARIES FOR OVER BUDGET BY 5000. ALL THE OTHER CATEGORIES EITHER AT OR UNDER BUDGET
MATERIALS WAS UNDER BY 26,000 . THERE IS STILL A FINAL INVOICE THE FIVE YEAR ECONOMIC PLAN SO THAT WAS UNDER BY ABOUT 3000. THE SMALL BUSINESS CENTER
COSTS ARE ALL UNDER THE DEVELOPMENT PROJECT GROUNDS WAS UNDER 500,000. AND THEN THE FACADE PROGRAM WAS ALSO UNDER REVISED 4000.
AND I JUST WANT TO POINT OUT ON HERE WE'VE HAD A LOT OF DISCUSSION ABOUT THE SMALL BUSINESS OWNER AND YOU CAN SEE TWO ITEMS RELATED TO THAT. SO IT'S MY UNDERSTANDING THAT
THE SMALL BUSINESS CENTERS AND PUT ON HOLD OR WHATEVER THE BEST TERMINOLOGY IS FOR IT AND YOU SEE THAT THE PLAN FOR THE
CENTER LEASE HAS BEEN REMOVED SO AT ANY RATE THAT'S SOMETHING THE FUNDS WILL BE AVAILABLE. OTHER USES AND TODAY I BELIEVE
THERE GOING TO BE A REQUEST TO THE CITY COUNCIL TO RETURN THAT 300,000 FOR THE SMALL BUSINESS CENTER CONSTRUCTION SO THAT 300,000 THAT WAS TRANSFERRED TO THE CITY FOR
THE CONSTRUCTION POSSIBLY WILL BE COMING BACK TO PARK. WELL I'M SURE WE HAD SOME EXPENSES FOR ARCHITECTS AND ENGINEERS AND STUFF AND THINGS TO HAVE IT ANY RATE THAT'S.
SO THANK YOU. SO BASED ON THE ACTUALS COMPARED TO BUDGET OUR BUDGET ADJUSTMENT REQUEST FOR 2024 IS BASICALLY SOME OF THE UNSPENT BUDGET FOR THE SMALL BUSINESS
CENTER MATERIALS AND REALLOCATING THAT TO THE SALARIES. AND THEN WE'RE ALSO ASKING TO CARRY FORWARD SOME OF THE UNUSED TO 2025.
SO OVERALL EXPENSES ARE UNDER BUDGET BY 291,000. WE'RE ASKING TO CARRYOVER 219000 TO 2025 AND THAT
INCLUDES 60,000 RELATED TO THE NEW BLOOM FACILITATOR POSITION . IT INCLUDES THE 45,000 FOR BUSINESS RETENTION PROGRAM.
IT INCLUDES AN ADDITIONAL 50,000 FOR THE FACADE PROGRAM AND THEN IT ALSO INCLUDES THE 64,000 642 THAT WAS UNDERSPENT IN THE FACADE PROGRAM AND THAT
THAT BLOOM WE HAD A PRESENTATION AT ROTARY. BUT YOU KNOW I THINK IF THEY CAN ACCOMPLISH THEIR OBJECTIVES RANGE INTERNSHIPS AND THINGS WITH THE MAJOR CORPORATIONS AND THINGS
THEY'RE JUST GETTING STARTED. THERE WERE SOME I DON'T KNOW HOW HOW MANY THERE WERE LAST YEAR BUT AT ANY RATE IT'S SOMETHING THAT DOES EXACTLY WHAT WE'RE TALKING ABOUT IN TERMS OF TRAINING FOR ALL
BUSINESS LEVELS ACTUALLY TO BRING THEM IN AND DO SOMETHING SO WE GET OUR YOUNG HIGH SCHOOL STUDENTS AND EVEN SOME COLLEGE STUDENTS I DON'T KNOW THAT CAN PARTICIPATE WITHOUT
AN OPPOSITION. IT'S ACTUALLY BEING 5050 WITH COMMUNITY DEVELOPMENT. SO THE 60,000 IT'S JUST THE PARTS PORTION OF THAT EXPENSE .
SO AND SO THEN PART OF THE REQUEST IS SOME OF THAT CARRYOVER AMOUNT OF 219000 TO 2025. SO THIS IS JUST A SUMMARY OF WHAT THE 2025 BUDGET
CURRENTLY IS AND WHAT IT WOULD LOOK LIKE IF CARRYOVER AMOUNTS WERE APPROVED. ANY QUESTIONS? SO THOSE ARE THE SUM TOTAL OR
YOU'VE GOT ANOTHER IS THERE ANOTHER VISITORS? THESE ALL THE BUDGET ADJUSTMENTS YOU'RE REFLECTING I MEAN WE'RE GOING TO HAVE ONE MOTION TO ADAPT THE BUDGET
ADJUSTMENTS YOU'RE PROPOSING. YEAH. AND THEY'RE LISTED ON HERE. THIS IS JUST A SUMMARY OF ALL THE ADJUSTMENTS THAT CAME FROM THE TWO SIDES BEFORE THAT WE LOOKED AT.
SO QUESTIONS FOR HER IN TERMS OF ANY OF THESE BUDGET ADJUSTMENTS. MR. CHRISTIE THANK YOU, MR. PRESIDENT. THANK YOU FOR THIS.
SO AS I LOOK AT THE FACADE PROGRAM WHICH I UNDERSTAND THE GOALS BEHIND THE PROGRAM AND HOW IT'S BEING USED AND SO ON BUT I SEE THAT IT WAS THERE
WAS 64,000 THAT WAS UNSPENT CARRYING THAT FORWARD AND THEN ADDING ANOTHER 50,000. AND SO FOR NEXT YEAR I'M LOOKING. SO THIS YEAR THE 150,000 FOR THE FACADE PROGRAM 64,000 WAS
UNSPENT SO WE BRING IT FORWARD AND NEXT YEAR WE'VE GOT A FACADE PROGRAM BUDGET OF $264,000. DO WE REALLY BELIEVE THERE'S GOING TO BE THAT LARGE OF AN INCREASE IN THE THE THE NEED
OR THE DEMAND FOR THESE FACADE PROGRAM DOLLARS? WELL, PART OF THE REASON WAS UNDER BUDGET IN 2024 IS JUST THE TIMING. BARB HAS BEEN WORKING WITH BUSINESSES AND THEY'RE IDENTIFIED THEY JUST DON'T
HAVE OVER YET. SO SOME OF THAT IS IS JUST TIMING OF THE FACADE BUT I WOULD MAYBE LET HOLLY ANSWER MORE SPECIFICALLY ABOUT THE DETAILED.
THANK YOU. YES, MAYOR BUSSEY, PRESIDENT ERICKSON, COMMISSIONERS. SO THIS PROGRAM ACTUALLY PROVED VERY POPULAR. WE HAD 150,000 ALLOCATED ORIGINALLY AND THEN GOT
ANOTHER 35,000 FROM HENNEPIN COUNTY AND WE EXCEEDED THAT AMOUNT IN DEMAND AND SO WE REALLOCATED SOME OTHER FUNDS FROM WE HAD A BUCKET FOR AN
UNSPECIFIED GRANT FUNDS DEVELOPMENT GRANT FUNDS SO WE ALLOCATED A LITTLE BIT MORE AND WE ACTUALLY ENDED UP COMMITTING 233,000 OVERALL TO IT IN 2024.
AND SO THIS COMING YEAR WE HAD 150,000 COMMITTED AGAIN AND A $50,000 GRANT FROM HENNEPIN COUNTY AND THEY INCREASED THAT GRANT AMOUNT AND SO AS MARY
KAY EXPLAINED, WE'RE JUST ROLLING TO ACCOUNT FOR THE MONEY THAT HASN'T BEEN EXPENDED YET BUT IT'S COMMITTED AND SO OVER TIME WE'RE GOING TO BE ABLE TO HAVE
A BETTER MODEL TO SHOW YOU HOW THIS IS GOING FROM YEAR TO YEAR BECAUSE WE DO ANTICIPATE THIS PARTICULAR ACCOUNT KIND OF FLOWING IN BETWEEN THE YEARS AND A LITTLE BIT OF A CONFUSING WAY BUT THAT IS WHAT
HAPPENED AND IT HAS BEEN VERY POPULAR AND IF IT CONTINUES TO BE POPULAR WILL BE WE MAY LOOK FOR OTHER FUNDING SOURCES OR INCREASE THESE FUNDS. WELL, I THINK THAT'S AN EXCITING PROGRAM. I MEAN AND WE'RE WITH A LOT
OF SMALL BUSINESSES IN IT IF THEY CAN GET SOME HELP. SO IT MIGHT EVEN BE WORTHWHILE JUST TRYING TO HAVE A PRESENTATION AT SOME FUTURE MEETING WHERE WE COULD GO ON AND EVEN ON FUTURE TOURS OR
WHATEVER AS YOU GO AROUND TOWN IT MIGHT BE INTERESTING TO SEE SOME OF THESE LOCATIONS AND THINGS BECAUSE YOU KNOW IT'S BEEN A MAJOR EFFORT TO TRY TO
MAKE THE CITY DEVELOPMENT ACCESSIBLE TO ALL TERMS OF ALL SIZES BUSINESSES AND THERE WAS OF THE GENESIS BEHIND THE SMALL BUSINESS CENTER BUT THERE'S OTHER THAT YOU CAN
ACCOMPLISH THAT. SO THANK YOU. OTHER QUESTIONS, COMMENTS IF THERE'S NOT THERE'S A MOTION
ON PAGE 127. I'M SORRY I DON'T WANT TO CUT YOU OFF. COMMISSIONER NELSON. YEAH, SORRY ABOUT THAT. YOU HAVE FOUR SHORT QUESTIONS FOR YOUR QUESTION. I ACTUALLY HAVE NO IDEA HOW
MANY I HAVE THIS TIME OR THE LENGTH OF THEM SO WE MODERATE . THAT'S GOOD. SO ARE WE INCREASING THE
NUMBER OF STAFF IN THIS BECAUSE THE FIRM UNDERSTANDS CORRECTLY THE STAFF COSTS ARE GOING UP $95,000 FOR THE DEVELOPMENT FUND.
YEAH AND THAT'S BECAUSE OF HOW THEY ALLOCATED THEIR TIME SO THAT SO THEN THE OTHER ONE THAT WAS LOWER RIGHT SO OKAY SO THERE'S NOT AN INCREASE OF STAFF. NO EACH PAY PERIOD THE
EMPLOYEES ALLOCATE THEIR TIME BETWEEN DO THE TWO FUNDS THE GENERAL FUND DEVELOPMENT AND THAT SPACE AND HOW THEY'RE ACTUALLY SPENDING THEIR TIME AND SO SOMETIMES HOW THEY'RE ACTUALLY SPENDING THEIR TIMES
DIFFERS FROM THE BUDGETED AMOUNT. OKAY. AND THEN WE ARE CARRYING OVER THE FACADE THAT THE MAYOR SPOKE ABOUT BUT ALSO THE
BALLOON POSITION AND THINGS LIKE THAT. I DON'T KNOW THAT WE NEED TO THIS CONVERSATION RIGHT NOW IN TERMS OF APPROVING THIS BUT AT SOME POINT WE SHOULD HAVE A CONVERSATION IN TERMS OF POLICY THAT IF WE DON'T SPEND THE MONEY I DON'T KNOW
THAT WE CARRY IT OVER. YOU KNOW, I THINK HAVE TO LOOK AT THAT BUDGET AND GO DO WE NEED THAT MONEY FOR THE BUDGET AND THEN WE JUST DO WE BUDGET FOR IT THE NEXT YEAR AS OPPOSED TO CARRYING IT OVER AND THAT DOESN'T THAT'S NOT A
PORT AUTHORITY ISSUE EXCLUSIVELY. I THINK THAT'S THE ENTIRE CITY ISSUE. AGAIN, I I DON'T THINK IT SLOWS US DOWN AT THIS IN MY
MIND BUT I THINK IT'S A LARGER CONVERSATION AS WE GO FORWARD ON THAT JUST BECAUSE YOU KNOW, WE HAD A POSITION NOT FILLED FOR PART OF THE YEAR AND IT DIDN'T COST AS MUCH DON'T I
DON'T SEE THE REASON IN THAT CASE TO CARRY THAT MONEY OVER TO THE NEXT YEAR AND USE IT FOR SOMETHING ELSE. SO JUST MY POSITION OR LEAST
IT SHOULD BE DISCUSSED. GOT I'VE GOT TO COMMENT ON THAT BECAUSE I THINK I THINK WHEN MR. CHAIR IF YOU WANT TO KNOW HOW I'VE RECOGNIZE YOU
COMMISSIONER. OKAY. YEAH. I THINK YOU KNOW TO UP ON COMMISSIONER NELSON'S COMMENT I THINK THERE'S A THERE'S A WE WANT TO ENCOURAGE THE BEHAVIOR IF THERE'S A PLANNED
EXPENDITURE AND FROM A TIMING PERSPECTIVE IT DOESN'T END UP IN THE RIGHT FISCAL YEAR. WE WANT I THINK WE WANT TO BE KIND OF EASY TO MOVE MONEY FROM FISCAL YEAR TO FISCAL
YEAR BECAUSE IF WE'RE NOT IF WE'RE NOT CAREFUL ABOUT ALLOWING THAT ON A ROUTINE BASIS OR KIND OF A PARTICULAR EXPENDITURE JUST FROM A TIMING
PERSPECTIVE IT PUTS DEPARTMENT IN THE POSITION OF KIND OF USE IT OR LOSE IT FOR SPENDING MONEY AND I THINK IT THE WRONG SORT OF BEHAVIOR. AT THE SAME TIME I THINK COMMISSIONER NELSON BRINGS UP
AN IMPORTANT POINT THAT IF IF MONEY IS UNSPENT FOR PURPOSE AND WE'RE GOING TO CARRY IT OVER IN ORDER TO EXPEND FOR PURPOSE B THAT REALLY IS KIND
OF LIKE A BUDGETARY OR BUDGETARY CONVERSATION AND I WOULD SUPPORT MR. NELSON'S COMMENTS AROUND THAT IN TERMS OF WANTING TO TREAT THAT A LITTLE BIT DIFFERENTLY THAN THAN LIKE EXPENDITURE
DIFFERENT FISCAL YEAR IS WELL WE CAN DO THE THING THE DIFFERENCE BETWEEN BUSINESS ACCOUNTING AND FUND ACCOUNTING AND I NEVER BEEN A BIG FAN OF FUND ACCOUNTING I'VE
OVERSEEN IT FOR MANY YEARS BUT THAT'S ONE OF THE THINGS THAT YOU END UP GETTING INTO BECAUSE WHEN WE WANT TO CREATE A BUDGET IN THE PUBLIC SECTOR WE ACTUALLY MOVE MONEY IT GOES
INTO THAT BUCKET AND IS THERE AVAILABLE EXPENDITURE AS OPPOSED IN THE PRIVATE SECTOR? A BUDGET IS NOTHING MORE A PLAN AND YOU JUST GET YOURSELF AGAINST IT SO I THINK
SOMEWHERE IN BETWEEN THE TWO IS IS THE RIGHT I MEAN AGAIN THEY NEED TO BE MONITORED AND WE NEED TO HAVE ACCOUNTABILITY BUT AT THE SAME POINT IN TIME
A LOT OF THAT JUST GOES WITH MAKING SURE WE'VE GOT EXPLANATION OF WHAT WE WANT TO DO AND WHY THIS HAS OCCURRED SO SO WE CAN HAVE A FUTURE DISCUSSION THAT COULD BE
ANOTHER PRINCIPLE THAT WE COULD HAVE OTHER QUESTIONS, COMMENTS IF NOT WE HAVE A MOTION AND 127 OF YOUR PACKAGE
WHICH I WOULD ENTERTAIN ENTERTAIN MOTION MADE BY COMMISSIONER KELLER DO WE HAVE A SECOND, SECOND, SECOND BY
COMMISSIONER BUSSEY ANY FURTHER DISCUSSION MARK DO YOU WANT TO CALL A ROLL? ERICKSON I SEE I HUNT NELSON
RUNS I KELLER PETERSEN I MOTION CARRY SEVEN ZERO THANK YOU AND I THINK THE WAY YOU PRESENTED THIS WAS VERY GOOD. I MEAN AGAIN IT'S YOU'VE GOT
TO STRIKE A BALANCE BETWEEN DETAIL AND EVERYTHING ELSE BUT I THINK YOUR SLIDES IN EVERYTHING WERE PRETTY EXPLANATORY SO THANK YOU. YEAH THANK YOU.
OKAY, HOLLY ALL RIGHT. GOOD EVENING, PRESIDENT AND COMMISSIONERS. AND IF I MAY, I'D LIKE TO JUST TAKE THIS OPPORTUNITY TO COMPLIMENT MARY KAY WHO JOINED
US IN 2024 AND TOOK OVER FROM JAN WHO'D BEEN DOING THE ACCOUNTING A VERY LONG TIME. SHE HAS DONE AN EXCEPTIONAL JOB AT LEARNING THESE ACCOUNTS AND GETTING UP TO SPEED AND
SUGGESTING IMPROVEMENTS. SO I KNOW YOU HAVEN'T SEEN HER THAT MUCH UP HERE YET BUT I JUST REALLY WANT TO COMPLIMENT AND TAKE THAT OPPORTUNITY.
ALL RIGHT SO WITH THAT I WOULD LIKE TO MOVE US ON TO THE ANNUAL REPORT AND THE WORK PLAN AND SOME OF THIS MAY ACTUALLY HELP YOU MAKE SOME SENSE OF WHAT YOU JUST SAW IN THE BUDGET.
THEY ARE A LITTLE BIT WELL THEY'RE VERY RELATED AND I WILL HOPE THIS WORKS ALL RIGHT.
SO ANNUALLY AS YOU KNOW, WE LIKE TO PRESENT AN ANNUAL REPORT OF THE WORK THAT WE ACCOMPLISH IN THE PREVIOUS YEAR AS WELL AS A PLAN FOR THE COMING YEAR AS. WE WERE WORKING ON THIS PLAN.
WE WERE ALSO WRAPPING UP THE FIVE YEAR ECONOMIC DEVELOPMENT PLAN. SO WE TRIED VERY HARD TO SYNC IT WITH THE ECONOMIC DEVELOPMENT PLAN AND THE PRIORITIES THERE IN BUT IT'S
IT'S NOT IN THAT FORMAT YET SO JUST FORGIVE ME IT'S ORGANIZED MORE HOW YOU'VE IT ORGANIZED IN THE PAST BUT JUST FOR A TIMELINE AGAIN OF THE CONTEXT OF THE WAY THE PORT AUTHORITY
HAS BEEN CHANGING IN 2022 THERE WAS THAT HRA ASSESSMENT THAT REALLY IDENTIFIED THAT THE PORT SHOULD MOVE CITYWIDE AND TAKE ON ECONOMIC DEVELOPMENT AND WORK WHILE THE HRA COULD FOCUS MORE ON
HOUSING AND SMALL DEVELOPMENT WORK 2023 WAS THE FIRST YEAR THAT WE EXPANDED FORMALLY AND WE WERE FUNDED BY A TRANSFER FROM THE HRA LEVY AND IT WAS THE FIRST YEAR THAT WE WERE ABLE TO OFFER SMALL BUSINESS
ASSISTANCE IN A MEANINGFUL WAY WITH THE DEDICATED STAFF. IN 2024 WE IMPOSED OUR FIRST LEVY AND WE DID OUR FIVE YEAR STRATEGIC PLAN PROCESS AND
THEN IN 2025 THIS COMING YEAR WE NOW WILL HAVE OUR FIVE YEAR ECONOMIC DEVELOPMENT PLAN TO GUIDE US. WE ARE ALSO FUNDING RESERVES AS THIS IS A NEW FUNDING SOURCE FOR THE PORT AUTHORITY
AND WILL BE SEEDING A STRATEGIC ACQUISITIONS FUND WITH OUR LEVY. SO THERE ARE SOME BIG CHANGES TO THINK ABOUT AS. WE MOVE FORWARD AND AS A QUICK
REMINDER THE PORT HAS GROWN ABOUT 15 TIMES IN SIZE IN A VERY SHORT AMOUNT OF TIME. IT USED TO BE JUST CENTERED AROUND THE MALL OF AMERICA EXPANDING TO SOUTH LOOP WHICH IS THAT ORANGE TRIANGLE THERE
AND WE NOW WORK. SO WITH THAT WE'VE HAD TO ADJUST QUITE A LOT WITH THE SERVICES THAT WE OFFER WITH THE HEADCOUNT OF STAFF THAT WE HAVE AND WITH CREATING PLANS TO HELP GUIDE OUR WORK AND
WORKING MORE COMMUNICATIONS TO TELL OUR STORY. WE MENTIONED PREVIOUS EARLIER THAT WE'RE REALLY TRYING TO WORK VERY IN A FOCUSED WAY WITH BUSINESSES OF EVERY SIZE
FROM SMALL BUSINESSES TO LARGE BUSINESSES. WE ARE OFFERING DIRECT SERVICES OURSELVES LIKE NAVIGATION, THE PERMITTING SYSTEM AND ADVOCACY THROUGH OUR OUR SYSTEM AS WELL AS
GRANTS LIKE THE FACADE IMPROVEMENT GRANT OR HATCH BLOOMINGTON. BUT A LOT OF THE SERVICES THAT WE ARE OFFERING ARE ALSO PARTNERED REFERRAL SERVICES OR HELPING PEOPLE APPLY FOR STATE GRANTS OR FEDERAL GRANTS.
SO WE CREATED THIS CONTINUUM JUST FOR A QUICK REFERENCE GUIDE TO SHOW ALL THE DIFFERENT WAYS THAT WE ARE WORKING WITH BUSINESSES AND IT'S SOMETHING THAT WILL CONTINUALLY
IN 2024 WE WERE WORKING UNDER THE PREVIOUS IT'S NOT EXACTLY MISSION STATEMENT BUT GUIDANCE OF PROVIDING ECONOMIC DEVELOPMENT FOR THE OF BLOOMINGTON AND WE WERE GUIDING OURSELVES WITH THE BLOOMINGTON TOMORROW TOGETHER
PRIORITIES OF A CONNECTED AND WELCOMING COMMUNITY AND A COMMUNITY EQUITABLE ECONOMIC GROWTH WILL RETAIN THOSE INTO 25 BUT THOSE WERE OUR MAIN
PRINCIPLES IN 24 AND WE WORKED IN THE THREE AREAS OF REAL ESTATE AND DEVELOPMENT BUSINESS ASSISTANCE AND PLACEMAKING. SOME OF THE GENERAL THINGS
THAT WE WERE FOCUSED ON INCLUDED THE FIVE YEAR ECONOMIC DEVELOPMENT STRATEGIC PLAN REALLY SHARPENING OUR PARTNERSHIPS WITH SOME OF THE GROUPS I MENTIONED EARLIER AND YOU'RE ALLUDING DEDE AND GREATER MSP COMMUNICATIONS AND OUTREACH AND MARKETING CONTINUING THINGS LIKE OUR BROKER BREAKFAST GOING TO ICAC
AND HAVING OUR FIRST EVER MINI CAR BOOTH AND THEN PROVIDING THAT SERVICE AND ASSISTANCE IN A CONCERTED WAY IN IN REAL
ESTATE AND DEVELOPMENTS TEAM THERE SOME GREAT ANNOUNCEMENTS AS FAR AS BUSINESS EXPANSIONS WENT POLAR SEMICONDUCTOR WAS ACTUALLY THE FIRST COMPANY IN THE NATION TO ANNOUNCE
OFFICIALLY ANNOUNCED ITS CHIPS AWARD AND SKY WATER HAD A ANNOUNCEMENT AT THE END OF THE YEAR AND WATER GOT ITS PRELIMINARY REDEVELOPMENT AGREEMENT TERM SHEET APPROVED
IN APRIL AND WE CONTINUE TO LOOK AT THAT PROJECT DROP LIST EXPANDED SIC CONTINUED TO BUILD ITS RAMP AND TO ITS FUTURE PHASES. BLOOMINGTON CENTRAL STATION CONTINUED TO SPEAK TO US THEIR
FUTURE PHASES. 700 AMERICAN BROKE GROUND AND WE STARTED THE PROCESS OF BUILDING OUT A TURF MANAGEMENT PLAN WHICH IS SOMETHING THAT USED TO EXIST FOR THE PORT CITY AND HRA SORT
OF FELL BY THE WAYSIDE AND IS SOMETHING THAT WE ARE PICKING UP AGAIN. SO THERE WILL BE ONE PLACE WHERE YOU CAN SEE ALL INFORMATION ABOUT THE TICK DISTRICTS HERE IN BLOOMINGTON
AND THE PORT HAS ALSO BEEN ON AFFORDABLE HOUSING. WE OVERSEE THE SHOW AS FAR AS AMENDMENT GOES AS WELL AS COMPLIANCE. WE SUPPORT THE HRA IN ANALYSIS
AND EXECUTION OF AFFORDABLE PROJECTS AND WE'VE BEEN WORKING WITH THEM AS YOU JUST SAW THE PRESENTATION TO EVALUATE THE LOCAL AFFORDABLE HOUSING AID FUNDING OPTIONS
AND BUSINESS ASSISTANCE WE'VE BEEN GROWING OF THAT PROGRAM THIS YEAR ELEVATE HENNEPIN AND OPEN BUSINESS BOTH OFFER FREE CONSULTING HOURS IN ALL OF DIFFERENT GENRES FROM LEGAL
TO MARKETING TO LEASING AND THEY HAVE OFFERED OVER 1000 HOURS OF FREE CONSULTING TO OVER 90 BUSINESSES HERE IN BLOOMINGTON. IT'S VERY IMPRESSIVE CEO START
IS A FREE COHORT PROGRAM THAT WE ARE DOING WITH HENNEPIN COUNTY HAD 21 BUSINESSES GO THROUGH THAT THE FACADE IMPROVEMENT GRANT PROGRAM YOU
HEARD COMMITTED $223,000 WHICH IS LEVERAGING OVER $5 MILLION IN IMPROVEMENTS. SO THAT'S BEEN A SIGNIFICANT IMPACT. THE PLANNING DIVISION HAS BEEN WORKING ON STREAMLINED DEVELOPMENT REVIEW AND IMPROVED BUSINESS CODES AND
PROCESSES. WE HAVE BUILT OUT OUR RIBBON CUTTING AND GROUNDBREAKING PROTOCOLS SO YOU SHOULD ALL BE GETTING REGULAR INVITATIONS TO THESE TYPES OF EVENTS. AND WE STARTED A CONVERSATION
ABOUT TRANSITIONING IN OUR SMALL BUSINESS CENTER BRICK AND MORTAR CONCEPT TO THE SMALL BUSINESS DEVELOPER CENTER A CONCEPT THAT WILL BE OFFERING SERVICES WITHOUT WALLS.
SMALL BUSINESS DEVELOPMENT CENTER IS A PART OF THE THE SMALL BUSINESS ADMINISTRATION. IT'S PROGRAMING THAT IS REPLICATED AROUND THE COUNTRY HERE IN MINNESOTA THIS TEAM
WORKS WITH THE DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT AND THEY WANT TO HAVE AN OFFICE HERE IN BLOOMINGTON THAT IS GOING TO BE AN OFFICE WITHOUT WALLS.
SO I'LL TELL YOU MORE ABOUT COMING UP IN ADMINISTRATION WE CONTINUE WORK ON BUILDING RELATIONSHIPS AND ON OUR
BUSINESS RETENTION AND I THINK THE MAYOR AND FORMER CITY MANAGER FOR SPENDING A LOT OF TIME US GOING OUT TO VISIT NEW BUSINESSES AND WELCOME NEW BUSINESSES THERE IS WILDERNESS INQUIRIES SHOVEL SHOT RIGHT
THERE? AS I MENTIONED TXDOT IS BRINGING 300 EMPLOYEES HERE AS WELL AND WE CONTINUE TO KEEP AN EYE ON THOSE MOVES. WE UPDATED THE BYLAWS FOR THE PORT AUTHORITY COMMISSION WE
HAD A NUMBER OF HIRES AND TRANSITIONS KEVIN'S BEEN DOING A GREAT JOB COMING INTO HIS AS ASSISTANT PORT AUTHORITY ADMINISTRATOR AND WE ARE GOING TO BE HAVING TWO NEW STAFF
JOIN US WITHIN THE NEXT FEW WEEKS AND WE CONTINUE TO IMPROVE PROCESSES ESPECIALLY WITH MARY KAY'S HELP IN 2025. SO THAT WAS OUR ANNUAL REPORT.
SO NOW LOOKING TO 2025 A NUMBER OF CHANGES COMING AND WE ARE STARTING TO INTEGRATE ALL OF THESE NEW PROJECTS AND PRIORITIES TOGETHER WE HAVE JUST ADOPTED OUR FIVE YEAR
ECONOMIC DEVELOPMENT STRATEGIC SO WILL BE UTILIZING THAT GUIDANCE AS WELL AS THE TOOLS WITHIN PLAN TO START FOCUSING OUR WORK MOVING FORWARD WILL CONTINUE TO REFERENCE BLOOMINGTON TOMORROW TOGETHER
AND THE CREATIVE PLACEMAKING PLAN WHICH IS ABOUT TO BE BROUGHT TO CITY COUNCIL WILL ALSO BE REFERENCING THE ECONOMIC DEVELOPMENT PLAN AND VERSA. WE'VE ALSO BEEN TAKING ON NEW
RESPONSIBILITIES. I MENTIONED SOME OF THESE IN DECEMBER WHEN I PRESENTED WE ARE BRINGING IN SOME OF THE WORKFORCE DEVELOPMENT WORK THAT'S HAPPENING HERE AT THE CITY INTO THE PORT.
SO THAT IS WHY BLOOMING BLOOM IN BLOOMINGTON IT HAS BEEN COMING INTO THE PORT AUTHORITY AS AN ECONOMIC DEVELOPMENT EFFORT AND TO SUPPORT OUR EMPLOYERS AND OUR YOUTH WORKFORCE DEVELOPMENT.
WE ARE GOING TO BE FOCUSING ON COMMERCIAL NODES, CREATING A TOOLKIT FOR BUSINESSES AND PROPERTY OWNERS. THERE THAT WAS A PROJECT THAT ORIGINATED IN PLANNING AND IS MOVING OVER TO THE PORT NOW HATCH.
BLOOMINGTON STARTED AS A PROJECT GIVE $100,000 PRIZE TO A SMALL BUSINESS THAT WANTED TO OPEN A BRICK AND MORTAR HERE WE ARE ALSO GOING TO BE PLAYING AN INTEGRAL ROLE IN THAT AS WELL PROJECT IS LED
BY SEAN LUNDY AND THEN BLOOMINGTON ECONOMIC THAT IS A MONTH OF QUARTERLY OF BUSINESSES AND HIGHER EDUCATIONAL AND OTHER PARTNERS
INTERESTED IN WORKFORCE DEVELOPMENT AND ECONOMIC GROWTH HERE IN BLOOMINGTON. AND SO THE PORT IS GOING TO BE PLAYING AN ADVISORY ROLE THERE AS WELL THAT'S ALSO INCLUDING
A CEO SUMMIT THAT WILL BE HAPPENING ON FEBRUARY 27TH THAT THE MAYOR WILL BE LEADING WITH SOME OF OUR LARGEST EMPLOYERS HERE IN BLOOMINGTON AND WE'RE GOING TO BE BUILDING
OUT A FALL BUSINESS FORUM AS PART OF THIS SERIES AS WELL. MESSAGING AND COMMUNICATIONS REMAIN IMPORTANT. I MENTIONED THAT WE'LL BE WORKING WITH OUR COMMUNICATIONS TEAM ON RELEASING RFP TO GIVE US
ASSISTANCE IN OUR ECONOMIC DEVELOPMENT PROMOTION AND WE'LL CONTINUE STREAMLINING OPERATIONS AND SERVICE AND WORKING ON REPORTING AND DATA ALONGSIDE OUR COLLEAGUES IN COMMUNITY DEVELOPMENT
IN THE REAL ESTATE AND DEVELOPMENT REALM. AS I MENTIONED, COMMERCIAL NODES WILL BE WORKING ON DISPOSITION OF THE RAMADA SITE AND CONTINUING TO SUPPORT SEQ
THROUGH PROJECT WORKING WITH AMWAY ON THEIR PROJECTS AND. WE ARE HOPING THE BLOOMINGTON CENTRAL STATION CONTINUES TO BE ACTIVE. YOU JUST GOT THAT GROCERY STORE PRESENTATION WE'LL BE BRINGING THE 98TH STREET
STATION SITE WITH METRO TRANSIT AND MET COUNCIL BACK UP TO THE FOREFRONT OF DISCUSSION AND CONTINUE HELP ADMINISTER THE AFFORDABLE HOUSING TRUST FUND AND HOW AND
JOE I MENTIONED WE WILL BE WORKING ON THE TIFF MANAGEMENT WE HOPE TO GET THAT CONCLUDED THIS YEAR AND THEN WE'LL BE WORKING ON UPDATING THAT EVERY OTHER YEAR WITH OUR MUNICIPAL ADVISORS TO MAKE SURE THAT EVERYONE HAS INFORMATION VERY
EASILY AVAILABLE. GRANT ADMINISTRATION AND BUSINESS SUBSIDY ADMINISTRATION ARE ONGOING PROCESSES AND THEN IT IS OUR HOPE THIS YEAR TO DEVELOP SOME STREAMLINED PACKETS FOR WHEN
WE ARE RESPONDING TO SITE SELECTION INQUIRIES IN ASSISTANCE WILL BE ONBOARDING SOME NEW STAFF CONTINUING A LOT OF OUR ADVISORY AND REFERRAL SERVICES
WE'RE HOPING TO EXPLORE A NEW DIRECT ASSISTANCE PROGRAM TO HELP WITH THE CITY SACCOS FOR OUR SMALLEST BUSINESSES AND THEN CONTINUING TO WORK WITH PLANNING AND BE AN EYE ON
OTHERS ON INTERNAL PROCESS IMPROVEMENTS AND POLICY AND THEN THEIR BIGGEST PROJECT BIGGEST TWO PROJECTS THIS YEAR WILL BE THAT SMALL DEVELOPMENT CENTER PARTNERSHIP SO WE WILL BE OFFERING MATCHING FUNDS TO
THE SPDC MINNESOTA DEED AND THOMAS IS INVOLVED AS WELL AND WE'LL BE BUILDING OUT BUSINESS PROGRAMING THEM THAT CAN BE OFFERED THROUGHOUT THE CITY. OUR FIRST PARTNERSHIP IN THIS
PROGRAM WAS WITH THE ZAWADI AND WE OFFERED A PROGRAM THERE AND OVER 150 PEOPLE ATTENDED. SO WE'RE FINDING A LOT OF AND IMPACT IN BRINGING THE BUSINESS PROGRAMING TO
DIFFERENT AUDIENCES AND TAILORING THE PROGRAMING TO THOSE AUDIENCES RATHER THAN TRYING TO GET PEOPLE TO COME TO US WHEN WE HAVE EVENTS HERE
1015 PEOPLE, MAYBE 25 WHEN WE GO OUT TO THE COMMUNITY WE SEE NUMBERS LIKE THIS SO WE'RE LOOKING FOR DIFFERENT PARTNERS IN , THE COMMUNITY TO HELP US. THERE WILL BE ONE ON ONE CONSULTING, THERE WILL BE
WORKSHOPS AND THEN THERE WILL ALSO BE COHORT PROGRAMS AS WELL FOR BUSINESSES WANT SOME LONGER TERM ADVISING THE BUSINESS ASSISTANCE TEAM WILL ALSO BE IMPLEMENTING THE CRM
THIS YEAR WE SELECTED A SYSTEM EXECUTIVE PULSE AND THAT WILL BE HELPING US TRACK ALL OF OUR INTERACTIONS BUSINESSES AND WORKFORCE IS A NEW AREA FOR US. THE BLOOMIN BLOOMINGTON
PROGRAM BRINGING THAT INTO THE PORT. SO WE'VE BEEN HELPING WITH EMPLOYER RECRUITMENT AND SOME OF OUR NEW BUSINESSES HAVE BEEN GREAT IN JUMPING ON BOARD TAKEDA WILL BE HOSTING AS WELL
AS WILDERNESS INQUIRY POLAR AND SEAGATE WILL ALSO BE HOSTING INTERNS. WE HAVE ABOUT 30 SPOTS NOW AND OVER 77 INTERNS THAT HAVE APPLIED ALREADY SO IT'S OVERSUBSCRIBED.
IT'S POPULAR. IF YOU KNOW ANY EMPLOYERS THAT WOULD LIKE TO HOST A YOUNG PERSON PLEASE LET US KNOW. WE'RE ALSO SEEKING OUTSIDE FUNDING RIGHT NOW AT LEGISLATURE AND THROUGH GRANTS
AND THEN MORE WILL ALSO BE WORKING ON MAPPING THE WORKFORCE ECOSYSTEM IT IS QUITE COMPLICATED. THERE ARE A LOT OF PARTNERS TO GET TO KNOW AND FINALLY AN ADMINISTRATION WILL BE
IMPLEMENTING THE ECONOMIC DEVELOPMENT PLAN WORKING WITH YOU ON THE UPDATE OF THE MISSION STATEMENT WE CONTINUE TO WORK WITH THE LEGISLATIVE TEAM HERE IN THE CITY ON PRIORITIES FOR THE CITY
SPECIFICALLY AROUND ECONOMIC DEVELOPMENT CLEANING UP OUR FILES AND ARCHIVES. VERY EXCITING STUFF. AND THEN STAFF MANAGEMENT, PROFESSIONAL DEVELOPMENT AND MAKING SURE THAT WE ARE
WORKING WITH COMMUNITY DEVELOPMENT ON DATA AND WITH THAT I MENTIONED AT THE BEGINNING THE TEAM HAS GROWN QUITE A LOT I BELIEVE FOR A
LONG TIME THE PORT WAS 2 TO 4 PEOPLE AT A TIME. WE ARE NOW AT ABOUT TEN AND YOU CAN SEE THE FULL CHART HERE.
HOWEVER THEY COULD NOT ALL BE HERE TODAY BUT I JUST WANTED TO SHOW THEIR PHOTOS TO REMIND YOU WHO YOU'RE WORKING WITH. WE HAVE A GREAT TEAM. THEY ARE VERY EXCITED ABOUT THE WORK THEY GET TO DO.
AS I SAID THEY WERE THE ONES THAT ASKED FOR SERVICE TO BE ONE OF THE GUIDING PRINCIPLES OF THE PORT AUTHORITY'S WORK MOVING FORWARD. AND SO I JUST WANTED TO TAKE A MOMENT TO ACKNOWLEDGE THEM AND
WITH THAT WILL TAKE YOUR QUESTIONS, QUESTIONS, COMMENTS COMMENTS WERE SILENT I'M
EXHAUSTED. I CAN'T IMAGINE HOW TIRED WELL AND THAT'S WHY I SAID I HAD TALKED TO HOLLY I SAID WITH ALL THESE THINGS I SAID, YOU
KNOW, WE MAY BE IN A SITUATION WHERE WE MAY JUST WANT TO THINK OF I MEAN AND WE ALSO APPROVE THIS AND JUST SAY, YOU KNOW, WE WOULD LIKE TO HAVE CONTINUING DISCUSSIONS. THERE'S DIFFERENT THINGS,
DIFFERENT WAYS WE CAN PROCEED . MR. LUNTZ I KNOW WHAT I WOULD LIKE THE LAST TO EXHIBIT HERE
YOU HAD THE CHART OF THE STAFF POSITIONS AND THEN THE PEOPLE TO FACE THE SCORECARD. I WOULD LIKE TO GET THE SCORECARD PROGRAM WITH EVERYONE.
THE LAST TWO EXHIBITS YOU HAD HERE O EVERYONE'S FACES WITH WITH THEIR NAMES RIGHT? OH I WAS COMMISSIONER ALONZO. I WAS WONDERING WHAT YOU WANTED ME TO SCORE THEM ON. IT'S ONE OF THE PEOPLE'S
PICTURES AND NAMED ANY OTHER BECAUSE THERE'S BEEN LOT OF STAFF CHANGE. ABSOLUTELY. WE'D BE HAPPY TO PROVIDE THAT . OKAY. WELL WHAT'S WHAT'S THE PLEASURE OF THE BOARD PEOPLE
LIKE TO DO I THINK WELL IT'S CALLED A PLAN AND THINK THAT SORT OF INHERENTLY INVOLVES ADJUSTMENTS AS THINGS CHANGE I
SUPPOSE MIGHT FEEL ALWAYS BUT I DON'T I DON'T THINK IT'S MANIFEST THOUGH AND I DON'T TAKE IT AS A MANDATORY STEP BY
PROGRAM. I THINK IT'S A LITTLE HIGHER LEVEL THAN THAT AND SO I FEEL LIKE WE COULD BE BLESSED AND AS WITH SEVERAL THINGS WE'VE
TALKED ABOUT, PEOPLE ARE SOME CHANGES IN THE ENVIRONMENT AND AND MAKE THE APPROPRIATE ADJUSTMENTS AS THAT SEEM REASONABLE.
DO I TAKE THAT AS EMOTION? SURE AND I WILL SECOND THAT. MR. PRESIDENT, IF I COULD ADD TO AGREE WITH COMMISSIONER
KELLER THAT A PLAN IS A PLAN AND IT CAN WORK AND I THINK WE ALSO YES, IT'S A BIG PLAN BUT WE ALSO HAVE TO REMEMBER WHAT IT'S NOT TO DO FOR PEOPLE ANYMORE. THIS IS A THIS IS A GOOD SIZE
ROBUST TEAM AND A VERY TALENTED TEAM AND TO BE HONEST, THEY'RE DOING A GOOD CHUNK OF ALREADY. A LOT OF THIS IS TO TO GROW AND EXPAND THE WORK FOR EXAMPLE THE OUTREACH TO THE
BUSINESS COMMUNITY AND THE WORK THAT WE'RE DOING WITH WITH THE SUPPORT AND THE FACADE PROGRAM AND SO ON AND THEY'RE DOING IT ALREADY AND TO TO PUSH IT FORWARD I THINK TO TO BE EVEN BIGGER AND
BETTER IS SOMETHING THAT THIS GROUP CAN DO. I GOT CONFIDENCE THEM AND I, I THINK THE WHOLE HE'S PUT TOGETHER A GOOD TEAM AND WITH NEW FOLKS COMING ON BOARD AS WELL I THINK WE TURN THEM
LOOSE AND WOULDN'T MIND UPDATES QUARTERLY OR SO YOU KNOW JUST A CHECKING AND SEE HOW WE'RE DOING AND SEE HOW YOU'RE FEELING ABOUT THINGS AND HOW WE'RE HOW WE'RE LOOKING BUT I THINK IT'S A IT'S AN IT'S AN DEFINITELY AN
AGGRESSIVE PLAN BUT IT'S ALSO A PLAN THAT HAS BEEN A LONG TIME COMING AND I'M GLAD TO SEE IT AND THAT WHY WE'RE PUSHING FORWARD ESPECIALLY THE FIVE YEAR DEVELOPMENT PLAN I SPOKE WITH ALI BRIEFLY THIS
MORNING OR THIS MORNING GOD, IT'S NOTHING LIKE IN THIS MEETING EARLIER ABOUT A CONCERN I HAVE ABOUT THE CURRENT STATE OF PLAY AND
WASHINGTON AND HOW THAT MIGHT AFFECT US THEN AND I SPOKE ABOUT SEARCHING FOR A WORD THAT DIDN'T SURPRISE I WAS PLEASED TO HAVE MY FEELING
OF THE QUALITY OF HER WORK SPECIFICALLY BUT THE STAFF IN GENERAL OF ANTICIPATING THINGS THAT MIGHT REQUIRE SOME
CHANGES IN DIRECTION AND I THINK WE SHOULD HAVE THAT THAT CONFIDENCE AND I DO THINK IT'S BACK TO THE DISCUSSION ABOUT WHAT'S A PRINCIPAL, WHAT'S A
GOAL, WHAT'S A PLAN AND WHAT'S AN IMPLEMENTATION. AND YOU KNOW, THERE'S AN OLD MILITARY APHORISM ABOUT PLANS FOR WHAT YOU HAVE UNTIL THE FIRST MINUTE YOU ENGAGE WITH THE ENEMY AND THEN EVERYTHING
THROWS OUT THE WINDOWS. I, I JUST DON'T THINK WE CAN REQUIRE OR IT BE A GOOD IDEA TO REQUIRE ANY FURTHER LEVEL OF DETAIL BECAUSE THEN WE'LL
BE SUBJECT TO SOMEONE SAYING WALK IN . BUT YOU SAID IN YOU KNOW ON JUNE 13TH YOU TAKE A LEFT HAND TURN AT 30 MILES AN HOUR YOU WANT AT 29 MILES AN HOUR WHAT THE HECK'S THE MATTER WITH YOU
PEOPLE SO WELL THIS IS CLEARLY ITERATIVE PROCESS AND WE'LL HAVE TO CONTINUE AND WE WE NEED TO DEVELOP AS AS HAS BEEN SAID BY SEVERAL COMMISSIONERS WE'RE GOING TO HAVE TO
PRIORITIZE AND THAT'S SOMETHING HOLLY ASKED TO COMMUNICATE. AND I THINK IF WE HAVE A DASHBOARD OR SOMETHING SO MR. PETERSON, YOU'RE SITTING THERE QUIETLY ANY PUT YOU ON THE
SPOT? I YOU KNOW, COMMISSIONER KELLER AND I OFTENTIMES THINK THE SAME WAY YOU KNOW THAT IT'S SORRY THAT'S USEFUL,
THAT'S A USEFUL THING. AND THEN AS YOU GET INTO IT AND BEGIN TO EXECUTE SOMETIMES IT IT TURNS OUT TO BE TRUE AND SOMETIMES NOT. I SUPPORT WHAT'S BEEN PROPOSED OKAY. WELL ANY FURTHER QUESTIONS OR
DISCUSSION? WE HAVE A MOTION THAT'S BEEN MADE AND SECONDED YOU WANT TO CALL THE ROHMAN ERICKSON I SEE . I CAN'T NELSON LUND.
I KELLER PETERSON I MOTION CARRIES SEVEN ZERO SO I THINK WE DON'T HAVE FURTHER ITEMS ON THE AGENDA OR I'LL YOU HAVE SOMETHING ELSE PRESIDENT
ERICKSON I HAVE FEW BRIEF UPDATES BUT I WILL NEED TO PLUG MY COMPUTER IN AGAIN TO GET THEM BUT IF MAYOR BICYCLE GIVE ME AN ASSIST I WAS HOPING YOUR COMMERCIAL STATE OF THE CITY ARE.
YES. REMIND ME OF THE DATE MARCH AFTER LOG COMING UP IN MARCH WE'LL BE OUR ANNUAL STATE OF THE CITY ADDRESS AND YOU'RE
ALL INVITED I HOPE YOU COULD BE THERE IT'S I CAN'T RECALL THE DATE IF ANYBODY CAN COME UP WITH THE 26 OR SOMETHING IT IS ON ONLINE 21ST MARCH 21ST
IT IS ONLINE YOU KNOW WHAT IT'S MUCH BETTER IN PERSON. COMMISSIONER, I WOULD LOVE TO GO I WANT TO GO FOUR YEARS WE'RE NEVER HERE. WELL, OKAY. OKAY. SO IT IS IT IS IT IS IT'S A GOOD SHOW AND IT'S A GOOD
OPPORTUNITY TO TO LEARN AND ACTUALLY TO BE REPRESENTATIVES OF THE CITY FOR THE BUSINESS COMMUNITY THAT'S GOING TO BE THERE. WE HAVE A LOT OF CITY FOLKS WHO ARE THERE BUT BETWEEN THE CHAMBER MEMBERS, OUR BUSINESS
COMMUNITY WE ARE EXTENDING THE NET FAR AND WIDE THIS YEAR IN TERMS OF THE INVITATION AND THE PERSONAL INVITATIONS THEY'RE GOING TO GO OUT AND THE FOLLOW UP PHONE CALLS FROM THE MAYOR TO MAKE SURE THAT WE GET PEOPLE THERE THAT WE WANT THEM TO HEAR THE STORY ABOUT WHAT WE'RE DOING
IN BLOOMINGTON. AND SO IF YOU ARE ABLE IF YOU ARE HERE IN MARCH, PLEASE DO JOIN US AT THE STATE THE CITY ADDRESS AND IT WILL I CAN
GUARANTEE IT WILL NOT ONLY BE INFORMATIVE IT WILL BE ENTERTAINING AS WELL THE FEW THINGS WE'VE GOT PLANNED I THINK YOU'RE GOING TO YOU'RE GOING TO ENJOY SO LIFE ONLINE
I BELIEVE SO I THINK I BELIEVE IT'S LIVESTREAMED BUT I CANNOT SAY THAT FOR CERTAIN. I'VE ALWAYS BEEN THERE SO I DON'T KNOW. OKAY. OKAY.
THANK YOU MAYOR BUSS. IT 21ST DEFINITIVELY MARCH 21ST WE CAN WE CAN SEND YOU ALL THE LINK TO SITE OF THE RADISSON BLU I KNOW SO A FEW OTHER THINGS COMMISSIONER KELLER HAD ASKED ME ABOUT
FEDERAL FUNDING EARLIER TODAY AT THIS TIME THEY'RE THE PROGRAMS THAT WE PRESENTED TO YOU OTHER THAN SOME OF THE EXPANSION FUNDING FOR CHIPS GRANTS IS IS ALL STATE OR
COUNTY OR LOCAL. SO AT THIS POINT WE ARE NOT CONCERNED THAT MAY HAVE SOME IMPACT ON THE AREA. BUT RIGHT NOW WE'RE BEING ADVISED WAIT AND SEE ON A LOT
OF THESE THINGS WE'VE CHECKED IN WITH POLAR. I HAVEN'T HEARD ANY CHANGES. THERE ARE OTHER COMPANIES HAVE BEEN APPLYING FOR TRACKS, TAX CREDITS AND OTHER PROGRAMS THEY DID NOT GET THEM BUT
AGAIN IT'S JUST A HOLDING PATTERN. WAIT. SEE AT THIS POINT IF WE LEARN THINGS WE WILL SHARE THEM WITH YOU AT THE STATE LEVEL WE HAVE
FEW PIECES OF LEGISLATION THAT WE ARE PURSUING OR FOLLOWING THE WE ARE LOOKING FOR A PUBLIC PURPOSE EXTENSION ON THE RAMADA SITE IT HAD THE
NINE YEAR ECONOMIC DEVELOPMENT TAX AND SO WE'RE LOOKING FOR AN EXTENSION ON THAT BECAUSE OF EXPO THAT OUT OF DEVELOPMENT FOR SO LONG AND THEN THE MALL OTHERS HAVE BEEN
PURSUING AN EXTENSION TO THE SPENDING PLAN TIFF DEADLINE WHICH WOULD HAVE COME AT THE END OF 2025 AS WELL AS SOME CLARIFICATION FOR HOW INTERESTED THAT HAS BEEN
EARNED ON SPENDING PLAN ACCOUNTS BE USED AND SO THAT SHOULD BE ADVANCING SOON AND I THINK AS MANY PEOPLE ARE AWARE
THAT IF THE 25% TARIFFS ON CANADIAN IMPORTS REMAIN IN EFFECT GO THROUGH OR WHATEVER THAT HAS A DRAMATIC IMPACT ON THE COSTS FOR THE
WATERBERG SO THAT'S ISSUE THAT HAS COME UP THAT AS WILL LABOR TO THE EXTENT LABOR HAS EXPORTED WHAT WE'RE CHARGING PEOPLE MORE TO IMPORT THINGS.
WE ARE ALSO PURSUING 300,000 IN WORKFORCE APPROPRIATE FOR TO SUPPORT THE BLOOM AND BLOOMINGTON INTERNSHIP PROGRAM MOVING FORWARD AND THEN ON A LIGHTER NOTE WILL HAVE TWO
STAFF JOINING US IN MARCH AND SO WE'LL HOPE TO INTRODUCE THEM TO YOU AT THE NEXT MEETING. THAT'S A BUSINESS ASSISTANCE SPECIALIST, AN ECONOMIC DEVELOPMENT ANALYST. AND FINALLY, AS I SAID, AN EYE
OUT FOR INVITATIONS TO OPENINGS RIBBON TOURS. WE'RE GETTING A LOT MORE INVOLVED THAT LATELY BECAUSE THE CHAMBER HAS NOT BEEN ABLE TO OFFER THOSE TYPES OF SERVICES EASILY HERE
IN BLOOMINGTON. AND SO THE PORT HAS BEEN PICKING UP SOME OF THAT WELL AND IT'S BEEN WELL RECEIVED AND NOW WE HAVE ALL THOSE BEAUTIFUL PHOTOGRAPHS OF THE MAYOR CUTTING GIANT RIBBON. SO THAT'S THOSE ARE MY
UPDATES. WELL, LET ME JUST SAY I THAT I'M GOING TO BE IN BRAZIL TOURING IN THE AMAZON THE 18TH SO I WON'T BE AVAILABLE IN ANY WAY SHAPE OR FORM.
AND SO LET'S MAKE SURE YOU GET TOMORROW TO MAKE SURE THERE'S WE HAVE A FORUM. OKAY FOR THAT PARTICULAR DATE AND IT'S FOR SHOTS I'M SORRY
YET I HAVE ONE MORE THING ABOUT YES SORRY. AND THIS WAS AN INVITATION FROM THE CREATIVE PLACEMAKING TEAM THEY'RE GOING TO BE STARTING TO PUT TOGETHER PANELS, SELECT ART FOR ART BOXES AND GIVE FEEDBACK ON
MURALS AND I KNOW THAT SOME OF YOU HAVE EXPRESSED INTEREST IN THAT IN THE PAST. SO IF THAT'S SOMETHING YOU'D LIKE TO PARTICIPATE IN PLEASE LET ME KNOW AND I WILL CONNECT YOU TO THEM. YEAH. GREAT. ANYTHING ELSE THAT'S REALLY
IT. REALLY? OKAY WE ARE ADJOURNED