Good morning. It is 8:02 a.m. on Tuesday, November 18th, 2025. I call the Economic Development Authority meeting of New Elm to order. To those of you watching live, I apologize. Some of the worldwide internet problems made us a couple of minutes late today. The first
business is roll call. We do have a quorum present. Item 2.1 is the EDA October 14th, 2025 minutes. >> Motion to approve. >> I'll second. >> Motion a second. Any further discussion? All in favor say I. >> I.
>> Opposed? Motion carries. Item 3.1, administrative activities, October 2025. Uh, good morning, President and Commissioners. Hopefully you reviewed that prior to this morning. Um because of the internet outage, I don't have my
overview for you as usual. Um but if there were any questions, I'd be happy to answer those for you. >> I reviewed it and I didn't have any questions, so I'd make a motion to accept the Economic Development Authority administrative activities for the month of October 2025.
>> Second. >> We have a motion and a second. Any further discussion or questions? >> All in favor say I. >> I. Opposed? Motion carries. Item 4.1, section 8, housing choice voucher program 2026 budget.
>> All right, commissioners and president Mark, this is an annual item um passing the 2026 budget for the section 8 housing choice voucher program. Um again I don't have my overview but I will note that um you'll notice the budget
increases significantly from 2025 to 2026 and that is because of the addition of the um tenant protection vouchers. We received 56 for Linderhoff Park apartments and another 21 for um Sunset
apartments this year. So, our budget next year includes those additional vouchers and that's why there's such an increase. I'll make an offer a resolution to adopt the 2026 section 8 housing choice voucher program annual budget.
>> Second. >> We have a motion and a second. Any further discussion? Director Bargole, please call the role. >> Commissioner Christian, >> yes. >> Commissioner Reinhardt Caulk, >> yes. >> Commissioner Bker, >> yes. >> President Mark,
>> yes. That motion carries. Item 5.1, EDA November 18th, 2025 claims list. I didn't see anything out of the ordinary except um one thing that always catches my eye is elevator expenses. Can you just share about that service? I
know that it is incredibly expensive, believe me, but I was just curious um if you could expand on it. >> Yeah, I can tell you. I don't remember exactly what the repair was, but they do a monthly um preventative maintenance on
our elevator and um at one of their um regular service of the elevator, they noticed I think there was something that was leaking oil or leaking something and a part
needed to be replaced. And so that's why um that's such a large expense, but it's to prevent the elevator from breaking down and having an even more expensive repair. Um so thank you.
>> If there's no other questions, I'll motion to approve the EDA November 18th, 2025 claims list. >> A second. We have a motion and a second. Any further discussion or questions? All in favor say I. >> I. >> I. Motion carries. Item 6.1 EDA
strategic priorities review. Right. We have representatives from Better City with us virtually today. Um to give you a highlevel overview of the strategic plan. Um and then the intent is to bring the final draft to you for
approval at the December meeting. Um so they're going to be joining us here. Luckily, the internet outage isn't affecting them being able to connect with us this morning. Are you there, Jason and Sarah?
>> That's my brother and sister's name. That's >> Mike. Are they connected? >> Looks like we'll go. There. I see. They're popping in. They're waiting in the lobby.
>> Sarah is joining us from Turkey, I believe. >> Um, hello everyone. Sorry, some internet connections problems today. >> Can you hear me? >> Yes. >> Yeah. Sorry about that. >> Um, so I'm actually attending from
Dubai. Um, sorry about that. So, with the internet connection problems, Jason, our CEO, should be here as well. So, Heather, if there's any chance to call through the meeting, that will be great because I think I cannot do that right
now. Um, but so we haven't had a chance to u meet you before. I was actually the project manager behind that working with um Heather and Chris um closely
um okay yes he's here as well u um my teammate and I actually visited attended in person visit since I am overseas um but here are today so we would love to like it's it's a really
great chance to meet you all Um, actually I'm seeing myself and not able to see you. >> There we go. >> Okay. >> Awesome. >> Good morning, Jason. >> Oh, yes. Jason is here as well. So, you
already met with him, I believe. >> Yes. >> Okay, that's great. >> Hello, everyone. >> Good morning. >> Morning. >> I apologize for being late. I changed time zones and forgot. Yeah, today's
8:00 but my bad. Sorry. >> And the internet connection problem today. So, it's interesting. Um, so um hope you had a chance to review um the presentation deck we already shared with
you. Um so today we would like to overview uh that presentation with you and answer any questions you have and in a second I will be able to share my screen. >> Would you like me to set you any
connection problems? >> Um sorry Jason >> would you like me to share screen or >> I'm I'm able to do that. So I I >> in in a second. >> Okay. I will be there shortly.
Um, you should be there. Can you see my screen? It showed up. Yep. >> Okay. Awesome. Um, Jason, would you like to start or I can? Yeah, I think you can start. >> No, that's should be okay.
>> Yeah. No, I'll I'll go ahead. Um, so it's uh this has been a fantastic process for us. A it was like Disneyland going to to meet uh all you in New what an amazing community and just tons of
respect for Chris and Heather and what they're doing but also the chamber and and um you know there's just a lot a lot of people doing a lot of great things and uh honestly you're elite already. This is a really and I think I mentioned that when
um when I was there talking with all of you. So this is really about honing in and really just perfecting the model in a in a community that's already just killing it, doing a great job. So super impressed with super impressed with
what's going on. So go ahead, Sarah. So we're going to look at a it's not just a data dump. Here's the here's the priorities, but but give the backstory and and why um we think these are important and and and the the
reasoning behind it. Um and then you look at the specific goals and then and then talk about you know since this is strategic plan for the EDA it's really about you know what are the roles of the commissioners um what are the roles of the the team Heather and her team and
make sure there's clear delineation. So, and please at any point along here, please stop us. Um, we got so much um great feedback and and input from all of you when we talk with you during the interviews. We'd love to make sure this is collaborative and and please push
back or or ask questions to go through. Okay. All right. So this plan is is really you've already got new has the comprehensive strategic plans which are fantastic which really do a great job of laying out from a city perspective
here's where we want to go here's the here's the the objectives so so really it's just all right how does the EDA best carry out those those uh directions already there and then what's what's the
role Um and then specifically what are the actions that are required? Um and then there's also some talk about ecosystem. So you know there's there's um the the chamber and nubric and how do all these these function together. So
okay Sarah. All right. So one of the the tasks was to provide these mission a mission and a vision. So, um, give you a second to read those and would love to hear any thoughts.
I think it looks good and what every community would want. Well, that's exactly how I would have phrased it as far as our vision and our mission. That's what we want to do. So, it looks good to me. >> Okay. >> There's some things that um that I think
are important here, the collaboration piece, you know, the mission to be collaboration and definitely innovation. And I think that's leaning into a strength, right? just intellectually and and um with with the approach to
programs, tons of innovation and that's really going to be the key going forward. Okay. Right. Okay. So um the core values are meant to articulate
and just um make clear what those what's important. You know what what are the things that that you as a as a committee and as and the the organization you know what are the things that are most critical. Um and
again we you see a lot of the same principles that were identified in the um in the mission. Uh the entrepreneurship and resilience I think are two things that we're going to talk about as we as we move forward and
and you'll see those manifest in some of the um some of the recommendations. Oh, and also community community identity. Um thoughts here. Anything that um that is missing?
>> I think you've captured a lot of it very well. I like also the stewardship aspect where we are in charge of quite a bit of money and how do we use that to the best of new and furthering our economic development.
>> Great point. Any other thoughts? Okay, so >> yes, this um this may be this is actually more meaty than it might appear. It might seem a little bit
obvious but but really the the point is there's because there's three organizations um in some level the county as well but really three that are part of the ecosystem you know what are the roles of each of them so we clearly delineated it and and we looked at it
and considered considered what everyone's doing but but really for us it's obvious that the EDA should be the lead um because uh you know the city has the funding has the has the overall strategic imperative from from the
citizens, right? Has a strategic plan, has a comprehensive plan and and and the EDA is the organization that that implements, you know, what the city wants to have happen. So, um you know, it has a specific responsibilities for for the the tools, the loans and the
grants and things like that, but also it it has a leadership role for the whole ecosystem. Mhm. >> Um and then that last bullet I think is is important also because it's birectional, right? That the the city
the the you know through the the city council the the directives come down but then also there's the feedback loop, right? Saying here's what we're seeing, here's what what um modifications need to happen. But it's it's important that the the communication goes both ways.
Okay. If there's comments, we'll move on. >> Looks good. >> All right. So, so those are are the um the first slide was all right. This is kind of the the legacy roles. These
are the new roles. um looking forward what are the what kinds of things not new roles but just acknowledging that these are roles that that that moving forward might be a greater part of it. So you know the convenor
um and the strategic investors. So, someone mentioned um and I'm sorry it's it's hard to see who you are through these these little screens, but um that there's there's a lot of of dollars involved and it's the strategic
investment piece. So, how do we use these dollars strategically to to do catalytic projects? So, all right. Set our next All right. And this is is really getting to to the delineation of the
responsibilities between the board and the staff. And um and and and for those who have served on boards, this will be um this will be um obvious, but the the the
board's role is really to to focus at a strategic level, at a programmatic level. you know, what is what's the funding coming in? What's the best use of that funding? Um, how are we, you know, what are the objectives? Again, keeping an an eye on here's the
strategic plan, here's a comprehensive plan, here's the at a high level, the meta level, here we're trying to accomplish and then staff's level to take those and execute it. So, the the granular program administration um looking at process applications and
so forth. So, um, this becomes incredibly important as we move, I think it's, uh, maybe the last slide where we talk about rolling forward with the calendar that the board's going to have a lot, um, a lot of heavy lifting to do with analyzing programs and making
specific recommendations or specific policy decisions around around the programs. And so it's really imperative that that the execution be left with the the staff so the board has the time to focus on those those strategic imperatives.
>> Mhm. >> Any qu questions or comments on this? I think it's >> Nope. >> I think it's always good to put that before a board because we are tempted all boards I think are tempted to dip into the other side and so it's always a good reminder.
>> Right. Thank you. And and also there's just not going to be bandwidth to do that when with some of the things we're going to put on your plate here in a minute with all right you got to do some specific anal analysis these programs. So >> Mhm. >> Yeah. There's just not going to be time. Thank you. Okay. And so this um this
codifies the relationship between the organizations and I think along the right hand column there the partnership principles is is the key that no wrong door policy is is really the critical because you want to make sure that when
someone calls whether it's a new business or a business that's um that wants to potentially move into town potential new new business, that first phone call has got to be the catalyst, right? Whoever they talk to. And so, one
of the things that um that we'll talk about is making sure there's there's training, a lot of communication so that, you know, if Sarah picks up a phone call at the chamber, she'll be able to say, "Oh, yeah. We do have that kind of a grant program." And and be able to to talk about it. And it was
interesting just in when we talked to Nubric and the chamber about um we went through this with them there was a point at which someone suggested oh yeah there's this grant program for that the other parties were I don't think there is and just just having that that
discussion they realized oh I was incorrect about that and so it is hyperritical there's great communication there so that you know so a there's clear delineation of roles but also information sharing and so that if someone comes in, they say, "Yes, we do
have that program." I'll I'll I'll send you to Heather and she can help you. Um, let's see. Heather and Chris, is there anything else on this? We we've spent a lot of time talking through these roles and and um the coordination. Is there anything you'd like to
highlight here? No, I I think you pretty much um got the message across kind of where we intend or what each group essentially wants to do. Um there'll probably be some crossover um moving forward a little bit
through startup support and business consulting um until New Brick fully gets up and running kind of in that in that session because we do offer the business consulting here on a very limited basis. So they would be an extension of that. Uh and then startup support you know
with our grants and just um Heather being able to walk a business through that process. We will do some of that. So there'll be a little bit of overlap. I wouldn't call it duplication per se because anything that Newberg does eventually they'll have to turn it over to the city to help them walk walk um
that business through the city process. Um but I think um Better City did a really good job of putting everything we've kind of talked about for the past four or five years into a cohesive infographic for everyone to kind of know
roles and lanes. Thanks, Chris. And and the great news is, yeah, we sat down with Heather, Heather, Steve, and and Sarah, and there's alignment that nodding heads say, "Yep, that's good. These are the lanes." And and there's a commitment to,
you know, along the right hand side there, it says regular coordination, and and uh I I think that's that's going to be a key going forward. And there's there's commitment there. Okay. etc. Okay. So, here's the the categories of
the things that we're going to discuss. Um, as you can see there, and let's just go ahead and roll into how into uh the calendar in the next slide. The uh so your role going forward. So, we've
we've done some analysis, we have recommendations, and now it it we turn over to the board. And so, uh, we've worked with Heather and Chris and put together a calendar that says, um, here's the, you know, you can see on the
the work session focus to look at each of program um, sequentially and say, okay, let's let's tweak this one based on the recommendations and the the feedback we've gotten. and then you know codify those and make them and take the
actions to actually um adopt those those changes. And so 2026 is going to be a really impactful year as you go one by one through through each program and um and make sure there's alignment with this with with what you know we're
presenting the strategic objectives and and our observations and thoughts based on on the work we've done and now there's the specific details the granular details on how to implement those. Any questions as you look at this?
>> I like taking the year >> to further develop each one individually rather than trying to tackle everything at once. It feels much more doable and that we'll do a really good job of making sure those are in alignment with what we need to have happen here in
Newm. >> I'm I'm really glad you recognize that because it I think you do a disservice if you try to do them all at once. If you try try just you know along with the normal cadence of things you got going says yep we're going to tackle everything >> I don't think you give the
>> um the focus that that probably is required. So thank you. >> Mhm. >> All right. Okay. Housing was um Oh, there we go. Obviously a a a big topic. There's so
much going on and and this is one where you just you you kind of should just step back and pat yourselves on the back here. It's really incredible what you all have done and the changes that have happened to to this home building ecosystem over
the past few years and the focus on you know bringing in affordable housing and catalyzing projects, maintaining quality, maintaining neighborhoods. It's just been super impressive and there's there's a lot a lot going on a lot in the in the pipeline. And so when we look
at that, one of the key takeaways and and we talked about this with y'all is that it's it's not that oh how how fast can we grow, right? That there's no appetite out there and and shouldn't be frankly to just grow as as fast as as
possible. Yes, there is significant um demand for housing in new homem just because we've talked about how many people um commute in from the outside and and you know a large number of those would would love to live in New
Obviously it's a great place um but but um you know the city and Chris and and all of you really have a great appreciation for cadence right that you know there's let's grow at a pace that that makes sense for everyone. And with
the housing that's already um permitted and underway, there's a great pipeline that that there's really you're meeting the the projections for how much housing you need. So, okay. So, if if there's, you
know, that's already in place, what is the role of of the EDA in housing in this market going forward? And the point was well well it needs to be strategic. Okay. And it needs to be catalytic. So just uh so if we're we're
helping home buyers that's good but actually you're just stimulating demand where there's already plenty of demand, right? You're just giving you're you're facilitating people to buy homes where there's a lot of people that would buy homes anyway and and there becomes an equity problem with who to help. So
there are specific um outcomes that would be beneficial and one of those is infill. Right? So there's already been some great work at rehabilitating um buildings and putting um housing on on the the second and
third floors, right? That's perfect because that that you know increases property value without increasing infrastructure and it also creates more density in your downtown core where people can you know walk to the main street businesses. So it really does
have have catalytic impact to to bring in on the housing. And so our our recommendation is focus the funding and the program on on that on infill on maybe
if it were anywhere else in the universe you'd say addressing blight. Um you guys don't even know how to spell blight. It's incredible. Your community is so nice. But but if blight were to rear its ugly head somewhere, you know, you could use that as a as a tool to um to address
that and and be very specific about we're trying to achieve this this community good, this community goal through this program. Pause, thoughts, question. >> Any push back on that? So this is really kind of a radical change we're
recommending which is is to to really go towards targeted investments for specific outcomes. >> I don't think so. I think a lot of our decisions should be data driven. So >> it makes sense. It um gives me some comfort too that we're not just
willy-nilly promoting h help for folks that but that we have a really good strategic reason of why we're doing or giving money to the people that we give money to. >> Additionally, I think that we are even
with our housing now and with the units that we have coming online in the next, you know, 12 to 24 to 36 months. um it's it's addressing a backlog of things that we've had as well. So um so while things seem to be moving pretty quickly now um
it's it is just a little bit of catchup. So but moving forward, you know, this is how we should be doing it as well. That's a great observation. I'm glad you said that. Yeah. that that addressing a need. And that's what this last couple
years has been about and now it's it's shifting and and you know, as an as an economist, you know, it's the supply curve versus the demand curve, right? That that there's plenty of demand. that's moving the supply curve out um by helping
going towards uh helping uh facilitate building in areas that make a lot of sense strategically. So yeah, appreciate it. All right, set number two which is identity and branding.
It's this one goes actually far beyond logos and um just uh you know slogans because we were really surprised at um
kind of a misalignment strategically and vision from a vision standpoint about who new is um and and it's somewhat understandable because all right are you just this amazing quality of life you know is it the parks? Is it the nature? Is it the German heritage?
Is it the, you know, the downtown? Okay. So, you got different things you can be. Um, but and and frankly, doesn't matter. Just be one, you know, but but not be all. And and I think
that's one of the things that that kind of stood out is that okay, yeah, there's a lot of great things you could talk about, but you probably need to pick one and and and craft that into a cohesive uh message. And so, um the you know, if
we were to if we were to pick I think the German heritage thing is amazing, but that's you know that y'all can y'all can lean into that. You already got Herman for heaven's sakes. But but anyway, that that's a process that you can that you can work through. But but the point is, you know, that's a kind of
a city level and a tourism level, but it has to filter down to the EDA as well. So, this is um you know, Chris is has already this is, believe me, it's on Chris's radar and he's he's really anxious to to make this happen probably in 2027.
But whatever that that meta branding is, that also has to translate into the EDA and then ED has to work with the chamber and new brick to say this is how we talk about ourselves. You know, this is how we present ourselves. Um and and strengthen that that coordinated
communication. Chris, this is your your world. Anything you'd like to add there? >> Um yeah, I mean like like Jason had said, this has been on my radar for a long time. just not having logos, inconsistency across the board, whether we use the chamber logo or city logo or
some amalgamation of both, the city seal. Um, you know, I think Heather and I and um and Adam Tols, we took a first stab at doing a um logo for New Brick that kind of or the the partnership to
really like this is the economic development logo that we can use consistent across everyone. Um, but as an EDA, as the city, um, we do need something that is cohesive that if it's from us, you know, it's from us. You know what the tagline is and it's
something we can we can build. Uh, and on top of that, it's just a message. If a business calls, why do I want to come here? Whether it's Newick, the chamber, or us, we have the same message to tell them. This is why you want to move your
business here. It's the same talking point. So getting all that um together uh will be uh you know end of 26 27 kind of major goals when we look at PIO or marketing branding strategies.
>> Do you see buyin for others to adopt a similar logo and here I look at Sou Falls which adopted logo but then their chamber has a similar looking logo good grievy logo the CVB does. there are quite quite a few partners that so it's
kind of the same look across the city. >> So I would say as far as an economic development logo for specific economic development purposes I feel there would be buyin between the two. They would still have their own you know the chamber would still have its logo. The
new brick would have their logo but um there would be a piece of that economic development kind of partnership logo when we do materials and and things like that. But I think there there would be buy in >> and and uh it to me the the issue here
is the the strategic view, right? You'll notice that we've got five recommendations or five categories here and there's a lot that we're not going to talk about um today because success in any organiz organization is focusing
on those those few, right? And when Chris talks about the messaging, I think it's the same thing. It's all right, let's focus on the strategic view with the branding and here's you know when someone calls to talk about um you know when you want to talk about new there's a lot you can talk about but having that consistency like here's the three or
four bullet points we're going to make that just strengthens your your argument. So, okay, number three. Um, so great things happening. Uh Chris alluded to this earlier with you know uh
the the ecosystem with with new business support and the city's done a fantastic job over the years at helping new businesses start and um lots of appreciation out there for for the efforts that have happened and so so and
frankly really impressive really impressive stuff um what you've been able to to pull off and accomplish. Um, so this is a pivot where we're saying, um, you know, great. Now, this at this juncture, because to be honest, when
you're trying to fill buildings of a downtown, you're you're in the in the process of of rehabilitating buildings, you want anybody in there, you'll do anything to h make it happen. So what's gone on is perfect because you've taken a a kind of a morbid downtown,
rehabilitated it and and re reinvigorate re reinvigorated it. Perfect. Now though, you're in a different place, right? And so it's an acknowledgement that those those precious funds need to to go towards catalytic um outcomes. So
uh a couple principles here, which is structured outreach. Um the chamber's doing outreach. New brick will probably do some outreach and there's a lot of businesses. So if if there's coordination among the three um and you
know Sarah asked for this that that it doesn't make sense for me to go visit a business that that Heather just went to, right? And so so making sure that that yes, we're going and we're keeping our fingers on the pulse of the businesses, but the but there's outreach and there's
your coordination. All right. Second one, this is really important is is economic gardening. So, it's a pivot from how and it's exciting. It has balloons involved, but there's a pivot from from how the funding would be allocated >> and it's instead of that first stage
where okay, I want to start a business, you know, here's some funding. It's we we want to put our funding toward um businesses that are able to go to the next stage. And that's what economic guarding is. The principles of econ
economic guarding is take stage two businesses. They've already proven their concept but also export oriented businesses and we talked about this when we met and um that you know if we just say uh I want to open a nail salon well you're just going to be cannibalistic
right? If you say I'm gonna I'm gonna export, you know, sell acrylic nails to, you know, outside of New All right, now you're an exporter and now you're bringing in fresh dollars from the outside. And so those would be the two principles.
Uh and then also the CTE support that as they work toward um workforce development. This one is so tricky. Um, and this has
got to be a a real focus of the community because um there's life is changing really rapidly and uh I'll just give a little anecdote. My my uh cousin's son or my nephew I guess is
is a is a machinist but his job as of now is to train the robots to replace all of his co-workers, right? And you know, at least in his world, there's not going to be any machinists anymore. It's just the robots doing it.
And so many of the things that we typically look at to with workforce development in this rapidly changing environment won't be required. And so this this CTE center becomes hyper critical and it has to be focused on and they do have robotics there, but it has
to be focused on, you know, the skills that that are in demand today and tomorrow. So you might not need welding, you know, just saying there's just a really different focus going forward. And so being connected to the business
community to know what those needs are and then being able to be nimble and and change those programs quickly to be responsive is going to be mission critical. Um and then finally, the small business loan program. um m making sure that
that's um again responding to um catalog needs. So it's it's it's helping businesses progress in ways that um strengthen them and strengthen the strengthen the economy. Um also in in here we should give a
shout out to the um uh child care initiatives that y'all have done. Let's see because I don't think we mentioned that. That is phenomenal. We have had we've had so many communities complain about how hard it is to you know the the gap with child care and what can we do.
You're the only community we've ever seen that that's that's done something about it. That is so impressive. So, um, really want to give give a a high five to Heather and Chris and the team for and all of you for for executing that and definitely something to to move
forward, you know, by by lowering the costs and lowering some barriers for people to do child support. That's super impressive. Okay, thoughts on this one? This one has a lot of meat to it and and would require again when you meet in in the
year to to implement this, you know, a lot of specific um changes programmatic that would have to happen. So any push back or thoughts on this? >> No, I think it looks good. >> Okay, good.
All right. Number four then is about tourism and um tourism in and of itself is nice. It, you know, it brings extra dollars into the economy. It helps your businesses. So, you know, it's good. And frankly,
you're already doing a really great job. Um, and at some level, it's kind of a step function, right? You can you can have this much tourism and then your your assets can only absorb so many and your assets being your venues, your
stores and primarily your hotels, right? And then you have to increase things and you can go again. You're almost at the point where you're ready for um you know to to take that step. And we see that step as a hotel
that right now your hospitality your hospitality product um is almost at at um at capacity and but but could probably you could probably use an upgrade to the you know at least one
hospitality product that that has a um you know business class or just a little a little different um anyway. just just a newer uh upgraded hotel. So you're you're hitting all
aspects of the market, right? And so when we talk about tourism, it's not for tourism sake. It's saying, okay, if if you just invest a little bit more and put a little more emphasis on it right now, if you did a hotel feasibility study, you wouldn't quite be able to justify a hotel, right? There's
a feasibility study out that already says that. So okay, what can we do to to get to that next level? Because if you had a hotel downtown that was walkable, uh that that would certainly be catalytic from an economic development
standpoint. We see that as as something that would really take you to the next level. So, um this is a all hands- on deck proposition, but but the year- round events, the events you have are crazy cool and super well attended.
are are there opportunities to to work together to to add a few more, you know, because those are those would be heavy room nights, right? Um and then also, you know, look at the uh
uh the Lily the the sports uh tournaments, you know, what what can be done to make those expand those make them a little bigger, more frequent, you know? So, this is working with the wreck, parks, parks and wreck. It's working with um some of the other
entities to say, "Look, we've got to be 20% bigger and more frequent on some of these things so we can get the visitation we need than to justify a hotel. And we think that that that with some
some focused effort 2030 is a reasonable expectation to be able to say we'll put the programs in place, we'll build them and if we build them or if they come we'll build it and and that would be sufficient to to you know in 2028 or 2029 go to a hotel developer and say hey
look what we've got look what we've done but then be very um have high standards and say look this is the kind of hotel we uh this is who we are as a community. We're not going to sell ourselves short if we're if there's going to be any tiff participation or
any you know anything that that that happens from a city standpoint. This is the kind of quality we expect because this is who we are as a community thoughts. Should we be working on recruiting now just given the timeline? I mean, it takes a long time to, you know, have
these conversations and find the right property and and, you know, they they're going to want information and we're going to want information. I mean, so should we start doing this right away? Do you think? Cuz again, if you build it, they will come. >> I think so. Yeah. And for two reasons.
One is like I I would love to see a lot of thought put into the location because the downtown would be so incredibly catalytic, right? And then secondly to really um steal your nerves and say nope we will not you know no sleepins no you
know no uh product that's not at our level. So we we want this quality of a hotel and you know here's what here's want here's what we're willing to do. So have those internal discussions and then when you go to the developers you say okay here's here's what we can provide
but here's what we want you to bring. So yeah, there's there's a lot that can be done now and then then once you all decide what what what you want, absolutely have those discussions. >> Thank you. >> I'm good.
>> Okay. All right. Final one is the the coordination among the partnership and really this um we talked about this a lot earlier but it's it's that no wrong door but then also um increase the coordination and there's
broad willingness you know to do so and everybody see the value of it. So, it's just executing that and saying, "Yep, we got to make sure that that we're working together really tightly to make sure to move these forward because, you know, tourism is is chambers thing, right?"
Nope. Now, tourism is a team effort. It's because that hotel will be catalytic to the businesses downtown, you know, brings in new property taxes, brings in tourism, uh, DRT taxes. So, yeah, everybody wins if we get a hotel.
So it's not just a Sarah thing. Now all of a sudden it's it's all of us all hands on deck trying to to move the needle. And so that that level of coordination and partnership is really important. Okay. Okay. Um
and that actually concludes those were the those are the five areas and you know you get next you can stop sharing your setup. So you get a you know a couple bullet points but you can see that that implicit in that
is a whole lot of of um work on your end to to implement those. And so while we've done you know the analysis and we've and we've looked through the data and come up with recommendations it really is now is a is a a function of taking those things and and
implementing. Um I want to highlight one thing that that somehow uh that I didn't highlight before which is the fact that for um and what's wrong with the screen
is somebody sharing Oh, there we go. Wow, that's so much better. Thank you. It's caught the twilight zone there. Thank you. Um that for a generation or more economically new has relied on it big
businesses. You recruiting craft and you know those other big businesses that provided highquality jobs, been you know incredible stability, been been fantastic community partners. It's just been been the engine that's really driven the economy of New M. You know,
between that and your incredibly welllaidout downtown, you know, y'all are kind of drinking from wells that you didn't dig. Um because you just had a lot going for you. Well, now it's your turn to make that next step as a
community and to prepare for the future because your manufacturing jobs have been in steady decline over the last um few years and and it's not been like huge layoffs or it's been barely perceptible but at
the aggregate level if we look at the analysis manufacturing jobs are declining and when we talk to them like oh no no there's not going to be a lot of automation don't worry our jobs going to be the same. We're like, "Yeah, yeah, okay." You can think that,
>> but we need to acknowledge that we're just at an inflection point at a at an economics standpoint from an economic standpoint and things are changing rapidly. So, so while we we certainly hope and
pray those those economic engines remain, we have to acknowledge that that the their employment is going to decline over time. That's just the reality. And what will replace it? It's entrepreneurship, right? It's it's businesses that we can't even anticipate
today. It's it's jobs that your children have jobs that we couldn't even describe right now, right? So, so the the what we talked about with um the business support becomes hyper critical because
you have to lend resources and support to those the businesses of tomorrow. And that's why it's incredibly important that you the the program pivot from okay, we'll help you start up to no, you got a good idea. We're going to help you scale because you need you need to
support those jobs that will replace the manufacturing jobs as as they diminish over time. You need to support those industries that will will replace some of the industries that are that are there today.
And so, um, your your role is very critical and what you're doing right now will make a big difference and and just as we're lauding the city planners, you know, 120 years ago or however long ago for doing such a great job laying out
city and as we're loing the people that brought in those industries 50 years ago, you know, hopefully in 20 years they will say, "Wow, the EDA did a great job of preparing us for the shift by supporting these these new industries that didn't exist. And so your your role today is very
important. I hope that you have a strong sense of of mission because it really does matter. >> Chris, Heather, anything that we missed or SA anything that that you'd like to highlight? No, I think it's just good food for thought for the commissioners kind of
take this in um have any comments between now and and you know next couple of weeks before adoption if they have any changes or you know tweaks that they want to put out there. Um and then we'll get those to you if they have them. But you know right now it's it's on the
commissioners right now to kind of digest what they've what they've seen and what they've read and um move on from there. I have a question for Heather and Chris. Do you have feel you have the resources to be able to implement these strategic
goals? Yeah, I would say between her, I John and and Dave, um you know, Elwood and Mike, we have a pretty solid team that can do um a lot of the a lot of the heavy lifting, but incorporating New Brick in the chamber with some of those
pieces as well. I think I think we'll work out. Um you know, it's just putting together the programs, redefining the programs, and and kind of executing on those. I think we'll be okay. Okay. All right. Very good.
>> Thank you so much. >> Any further questions for Better City? >> Uh, I'll make a motion to receive the EDA strategic priorities review presented by Better City. Second. We have a motion and a second. Any further discussion or questions?
>> Thank you very much. >> All in favor say I. >> I. Opposed. Motion carries. Thank you for joining us today. >> Thanks Al. It's been an honor. >> Thank you, Jason. Thank you, Sarah. >> Thanks.
>> Item 6.2, 2025, audited annual financial report. Okay, I'm going to try and get this up there. >> Okay, he's got it. >> We got two backto back fun >> Yes. fun presentations for you today.
>> Very good. Um, President, this is the um overview of our audited financial report um and the um information we received or I guess the audit from Abdel um so we'll go
through why isn't that working? Okay, so we have um five funds in within the EDA. The 260 fund is the government funds. Um and the rest are the market rate or the business activity funds. Um so 262
was is garden terrace, 265 was the rental properties, 270 was the housing assistance fund and 272 was the public housing fund or is the public housing fund which is Broadway house and I believe now Linder. >> It's Broadway House and um in the public
housing program there's also 10 rental houses. Yes. Okay, there it did work. Um, so our unrestricted net position is $8,765. Um, our total net position is $6,89343. Um,
so again, portions of our um funds are restricted for specific uses. Um I think you guys are well aware of that. Um cash and investments about 7,833,344. Um and then our operating revenue for
the business type is was about $6,17195. And then um that was a ch the change from um 2024 to 2025. And then the operating expense change um we reduced our expenses by 108,339. Um, and you'll probably hear me say this
a lot throughout the presentation, but a lot of the changes are due to the sale of Garden Terrace and the rental property. Um, so fund 262 and 265. Um, our assets are strong. Um, they went up
in value. Um, and our liabilities went down a little bit again with the sale of garden terrace. Um so there's that to get through. Um so
compared to prior years this year our market rate housing holds the largest portion of our net position again related to the sale of garden terrace. um and then the second largest portion is the government portion and then the third largest being the public and
Indian housing or the Broadway house um properties and then section 8 is just that little sliver right there. Um so revenue trends um obviously in comparison to prior years with the sale of garden terrace and the rental
properties our revenue went up um and then uh okay sorry next slide I'm getting ahead of myself and then expenses oops that was revenue trends sorry expenses um we did have some decrease in expenses
um garden terrace was sold in March of 2025 and the um rental property was sold in May of 2025. So some of our expenses did go down as a result. And so now we're on to the governmental
activities section. Um in the governmental activities fund, our revenues decreased by 493,000. um mainly because we didn't have um as many transfers in from other funds. Um
and our expenses decreased by $49,944 or $994. Um our net position increased by $111,237. and then public and Indian housing or mainly Broadway House. Um our revenues decreased by $143,728
mainly due to the completion of the um solar project and the um there was less transfers in as a result of that. Um our expenses increased $28,485 mainly due due to some increase in utilities.
um our overall net position increased and then section 8 housing our revenue increased by 34,000 607 our expenses increased as well by 57,000 um I think that was mainly due to adding Linderhoff
and the other program or apartments that were eligible and our overall net position increased by 15,866 and market rate housing. So this is garden terrace.
So again um garden terrace was sold in as March um 31st. Um so our revenues increased quite a bit. Um and our expenses decreased quite a bit as a result and then our overall net position increased quite a bit too.
Um the rental property uh again kind of the same thing as garden terrace. The rental property was sold in May of 2025. Revenues increased. Um expenses decreased or I'm sorry expenses increased and this includes the
transfer out of the remaining remaining balance into um the government funds into the EDA. Um so therefore resulting in an overall net position decrease and then um capital assets our capital assets decreased by 1
million due to the sale of garden terrace and the rental property. So I can't say that enough apparently. And then um overall our uh the auditors issued an unmodified
opinion on the financial statements which is good. Um this year we had no issues of non-compliance and there were no deficiencies of internal controls and that is all that I have. Any questions? It's always good to see and so we'll
have to remember as we kind of compare you know the next three years back to this that that sale just really kind of change g brought a lot of changes about positive changes I believe but changes nonetheless. >> Next year will look very different without those two funds for
>> technically we still have the garden terrace fund into this year just because of the timing of all the expenses and when everything was actually transferred and cleaned out. So you might see a little bit of that residual effect next year. Um but overall it will be it will look very different over the next few years.
>> Thank you. >> It was a very pivotal year for the EDA with closing down those two funds and sale of property and yeah a lot of big things. >> Okay. I will make a motion to receive
and order filed the 2025 audited annual financial report. Second. >> We have a motion and a second. Any further discussion, questions? All in favor say I. >> I. >> I. >> Motion carries. Um item 7.1, economic
development activity report. Right. And again, I don't have my overview. Um I apologize with the internet outage. Um but I did just want to mention one thing. Um interesting. I get a lot of calls on the Westridge Place daycare facility from other
communities that are looking at um child care solutions, but I had an interesting inquiry from a a student at North Dakota State University in Fargo. um she is studying in the graduate architecture program and she came all the way from
Fargo to New Alm to tour Westridge Place with me um because she's doing her thesis on um how architecture can help um with the child care solutions and so she was interested in the pod model and came across our project and and drove
down here. I just thought that was really cool. I did ask her to um share her thesis with me when she finishes it and let me know um how she does grade-wise on it. So, looking forward to getting that from her. >> Very cool.
>> A motion to accept the e economic development activity report for October 2025 activities. >> Second motion >> and the second. Any further discussion or questions for Heather? All in favor say I. >> I. I motion carries. There being no
further items on the agenda, this meeting is dismissed. >> So it came back up there anyway, so we should be okay. Kiss.