00:00:08,470	The start. The April 23rd, 2026 Vision Fund Committee meeting. Number one item call to order. Do I do that? Member Schmitz. Here. Meyer. Here. Petersen. Here. Member Scherr. Just walked in. Okay, great. We’ll start with number two. Open up for public comments.

00:00:56,600	Anybody here for public comments? Okay, I see none. Move on to item number three. Approval of the meeting. Minutes. A motion to approve. Is there a second? Second. Okay, we have a motion and a second. Do we have to approve? I can call roll. Okay. Member Schmitz. Yes. Meyer. Yes. Sure. Yes. Petersen. Yes. Okay. Thank you. Item number four.

00:01:30,630	Receive the Vision Fund financial statements. And I understand we have them, but we don’t have anybody to give a presentation. So do we have any discussion about them or. There’s really not much change month to month this month other than just little activity. Private interest income and. Yeah, I agree.

00:01:58,370	The only question I had on the loan information on page seven for the last project that we funded that Sara LLC, that there’s a difference. It says difference 9427 $94,274. Is that is that an air? Jason, do you. Could you maybe speak to that? Because every other one we’ve only gotten paid down on one loan and that should be the pay down.

00:02:29,530	Should that should be the difference there in payments we’ve received to revolve the fund and that that Sara still had the $94,000 difference. I was just curious. Not not a huge deal. But yeah, I we. Will follow up with our finance folks next week.

00:02:50,170	Uh, our acting finance director is away from the office this week, but we’ll definitely make a note and report back at the next meeting. What? The explanation is there. Sounds great. Thank you. Moving on to item number five, extension of Simply Golden Properties. Thank you. Committee Chair Petersen. Acting committee chair. Petersen, Noah. Roman chamber EDC. Uh, as you recall, simply you wellness.

00:03:19,800	Otherwise known as simply Golden Properties, was awarded a vision fund. Um, match on May 13th, 2025. They have reached almost the end of that 12 month term to start drawing funds. They’re still in their construction phase yet to go to permanent financing. They’re requesting a nine month extension.

00:03:43,270	Um, they’re aiming to just move this fall on that, but they’d like a little bit of cushion just in case something were to happen. Um, happy to stand for any questions. I’ve talked with the project about it. Thank you. All motion to approve the extension. Is there a second? Second. Member Yes. Sure. Yes. Schmitz. Yes. And. Petersen. Yes. Thank you.

00:04:15,630	Thank you. Item number 6 43 Land, LLC. Application. Perfect. Yeah. So I’ll give a little bit of background on the project. Uh, application is 43 land, otherwise known as chute 360. Would be the operator. They are looking at purchasing and building on a three 302 first. Oh, no.

00:04:40,370	4481 Coleman Street is the actual physical project address in Bismarck, up north off of 43rd. Um, they are. Looking at, uh, so the final amount will be set later closer to closing. Um, so I don’t have a final amount for you right now.

00:05:02,070	Um, the rest of the actual project, um, valuations are set on the uses and sources table, and I will let you talk to the project after they present. They have a little bit of a presentation that will go over what the project and what the final look will be for the end goal. So. Well. Hey everyone.

00:05:28,000	Um, I know Luke, Luke, Mormons there to present in person. I’m Ben Woodside. I appreciate the time and allowing us just to present to you here a little bit. I’m in Fargo right now. Unfortunately, I couldn’t be there in person.

00:05:44,000	I’d like to, but, um, I had a different prior obligation, but we just have a little, uh, slideshow presentation that we’re going to go over and, uh, would like to discuss any more detail with you guys. Um, if you have any questions and whatnot. But we’re here just to talk about our project and, uh, you know, see if we have a chance at the Vision Fund.

00:05:58,270	Um, being on remote. Um, is there a slide show that’s being shown to you guys right now? Okay. Excuse me. I can’t see anything, so just curious if if that’s up. Um, it looks like. They’re working on it.

00:06:20,630	Okay, well, um, I can just give you while they’re working on it, I can just give you a little, uh, macro level. A high level of what the project is. And then once that, uh, presentation gets up, we can, um, just dive into a couple bullet points of more specific items.

00:06:40,270	Um, what what we have going, um, in North Bismarck, there is, um, what’s called shoot 360. And what two, 360 is, it’s a it’s a basketball shooting facility. Um, that’s a franchise. Uh, they’re a global franchise. Um, it’s a very, very unique franchise. Um, it’s unique in the sense that there’s probably about 50 of them globally.

00:07:06,530	And what a shoot 360 is, is they have patented a technology that allows kids, individuals that want to come in and shoot, um, how to create a perfect shot. So that’s the arc, the depth and left and right.

00:07:32,230	So they have this Noah technology that it’s patented and it gives kids the opportunity to see each one of their shots that they shoot. Um, it explains the shot. It explains why a shot is short. It explains why a shot would be left or right.

00:07:52,530	And, um, the other unique thing of what what kids can, can utilize is there could be a kid in Turkey, a different country, where 360 is located, and they could shoot against a kid, live in a different country or a different state where there’s another 360. So there’s a shooting aspect of 360, and there’s a ball handling and, um, it’s all technology based. Um, with this patent along with that.

00:08:16,370	So that’s one portion of our project. Along with that is we’re having a full size gym. Uh, we’re going to end up calling it the Bismarck Sports Academy. And what we’re going to host in this gym. And, uh, is basketball for youth basketball, right? You got kindergarten through eighth grade.

00:08:36,630	Um, we’re going to host volleyball, uh, skills and camps and all that for youth kids. Um, in the area. So there’s basketball and volleyball in the gym. And then also on the north side of the project, we’re having hitting cages for baseball.

00:08:56,000	And so we’re going to end up having, um, it’s called a hit tracks in this facility. And if you guys have ever been to a golf simulator, it’s like a golf simulator except for baseball or softball.

00:09:15,100	And so kids can when they’re in our, um, hitting bays, they can hit and they can see the velocity, the exit velocity, the speed of their bat, all the ancillary items that you’d see on like a golf simulator, except it’s for baseball or softball. So we have kind of two. It’s all one project. Um, it all encompasses, uh, basketball, volleyball, uh, baseball or softball. Um, but I just kind of wanted to give you a high level of the difference between, what, two, 360 is.

00:09:36,630	It’s a franchise, and it’s a shooting, a basketball shooting franchise. And then what we’re also bringing to Bismarck on an ancillary item, even though it’s still be in the same building as another gym for kids, basketball camps, volleyball camps, individual training, uh, baseball hitting, um, working on mechanics for baseball with the hit tracks.

00:09:56,730	So I just wanted to give you a high level, um, rundown on it is all one project. Um, it’s just kind of split up between two different avenues, if you will, between the franchise and then also the the one gym.

00:10:12,270	So it looks like we got the presentation so we can kind of go through that. But just a high level I want to give you that information quick. Go ahead to the next next slide here.

00:10:30,370	Um, so as we, as we as we mentioned or as I talked about, it’s a technological innovation on the 360 side. Um, a lot of, a lot of this is data driven. So it’s extremely data driven in the hopes to help the kid improve based on exactly what the kid is doing and shooting at that time.

00:10:56,100	So it’s live data and feedback for the development of the kid or the individual that is shooting in that basketball day. Um, obviously we’re we’re here for the community. We’re here to help kids improve, to build confidence. Um, we do have coaches.

00:11:17,370	When kids sign up, uh, to access one of our shooting bays, we do have coaches and staff on hand that will be helping them with their technique, that will be helping them with their form, um, that will be helping them, uh, with their shot, with their ball handling. So it is, um, there is data driven, but we also do we will have staff on site at all times that are helping these kids, um, develop a better basketball game.

00:11:37,800	Um, our staff, just speaking of staff, quickly here in about, uh, probably about 2 to 3 years, we’ll end up employing, uh, 3 to 4 full time staff employees, and then we’ll have about 10 to 12, um, or 12 to 15 part time employees.

00:12:01,800	And the part time employees are going to be individuals that look to come in for a summer job, right? They want to come in, they work or they play basketball at you, Mary, or they play basketball at college. They want to come just get some part time work in in the summer or on the weekends.

00:12:16,630	That’s a lot of our staffing on the part time side is going to be, uh, Luke, who’s on site right now or who’s on site right now. Um, he’s going to be the GM and actually overseeing the entire facility.

00:12:34,800	And so Luke will be full time, and then we’ll have, like I said, in about three years, we’ll have another three people under Luke to help manage, um, the operations of, of our entire facility. Uh, Luke is a owner in the operating side, and I’m going to give Lucas kudos right now, even though he doesn’t like it a lot. But I’ve known Luke for many years. Obviously, we play basketball together, and you’ll learn about us on the next slide.

00:12:56,070	But, um, Luke has a tremendous relationship, uh, with people in Bismarck. Um, not only on a kid side from being in the public school system, but on a basketball standpoint. Um, he’s well versed, obviously, in basketball, has a great relationship with individuals in town.

00:13:16,700	Um, he’s held to a high standard. He’s a high class guy, and it’ll be phenomenal for our operation to have him at the helm. Uh, running, the running the operation with his knowledge, his expertise in basketball, but also his community involvement that he’s had for many, many years here, I think

00:13:35,630	15 to 17. But you can jump in terms, I’m not sure, 15 to 17 years. And in, uh, as a teacher. Yeah. So I can introduce myself here quick.

00:13:50,700	But I’m Luke Moorman, um, scrambled over here from school, actually, and I’ve had Joel’s kids in class, so, um, you know, they were good. They were good. Um, but graduated from Dickinson in 2004. Uh, got to go play basketball with Ben at Ndsu. Had some great experiences there. Um, and then got my first teaching job at Assembly Middle School, where I’ve been ever since.

00:14:07,100	And so, um, currently in, in, uh, my last year of teaching now, but, um, super excited for this opportunity. And, uh, I’ve been running an EIU basketball program as well. It’s something that really helps with this. Um, I know a lot of the athletic directors in the state.

00:14:22,630	Um, we have kids from Minnesota to Montana that play in our program. Um, and so I’ve been I’ve been running that for 12 seasons now, and we’ve actually just merged with Sanford on that, uh, last year. Um, I’m also the, um, athletic director at Saint Mary’s Academy.

00:14:39,330	So the middle school, um, this is my second year of that. And so, um, just excited for this opportunity and to, uh, get to be a part of this. So I’ll go the next slide where I just see a little bit about Ben. Yeah. And, um, hello again. I, uh, I graduated from Albert Lee High School. Um, played basketball with Moore. Uh, sorry. I call him more arms.

00:14:59,870	I’m thinking, like, bass, like my buddy, um, played basketball with Luke at Indy VSU. Um, graduated there, and I went and played professionally overseas for eight years. Um, got back about, uh, seven years ago, uh, settled down in Fargo. Um, where, um, family lives.

00:15:21,870	Got a wife and three kiddos, actually got a four month old, so it’s pretty wild when you got to go from, uh, zone from, uh, man to man, but, um, yeah. So that’s a little bit about me and looking forward to having this establishment, uh, in Bismarck. And, um, we can keep going here.

00:15:39,530	Next slide. Okay. So this slide, I hope you guys can see this. This is a interior, um, drawing of exactly what it’s going to look like. I’m not sure how well you guys can see it. Uh, but as you can see on the, um, horizontal rectangle, um, is that’s where our 360 side will be.

00:16:04,000	So there’s five shooting bays on that side, and there’s five ball handling bays on that side. Um, there’s also there’s a little vestibule. You have a little, um, check in area.

00:16:23,500	Um, you got a, uh, two bathrooms on the main level and then, um, on the top left hand corner there, there’s actually going to be a mezzanine where people can go and watch their son or daughter, uh, while they shoot. And there’s some seating area up there and kids can go change and and go shoot. Um, but that’s the 360 side. You can see there’s five shooting bays and five ball handling bays attached to that.

00:16:44,100	And in the middle of that entire, um, drawing, there’s a door. There’ll be double doors that takes you into the. I’m going to call it the North south, or the long rectangle that is the ancillary gym that we are talking about. Um, more youth program with kids from kindergarten to ninth, 10th grade.

00:17:05,470	Individual training group trainings for basketball and volleyball. So we’ll house basketball and volleyball. Um, individual and also group and camps. Um, in that, in that full gym there. Then on the north of that gym, it’s about 1800ft, and that is where we’re going to have two hitting bays.

00:17:31,630	Um, there’s a door on the east side of that, um, hitting bays where people can access, um, from the outside, but you can also access it through the gym. So that is where our baseball hitting, um, and softball hitting bays will be at. So really, you got the hitting on the, on the north side for baseball. Softball? Yeah, volleyball and basketball.

00:17:53,000	Um, for big groups, for individual training, for, uh, camps. Then on the right hand side is where the 360 shooting, um, and ball handling will be located. We got we got some pictures here that are just zoomed in a little bit. I can just scroll through those quick. Those are, those are the five shooting bays on the top there.

00:18:11,470	The five dribbling bays on the bottom, kind of our entrance area with the mezzanine up above those stairwell there. Um. So let me, let me just if you guys just got one minute, let me explain that 360 side quick.

00:18:26,800	So just to give you guys a grasp and we’ll have some renderings here, but for, for the renderings, each one of those bays has nets that come down that separate each of those pie shapes. So there also be um, we call it a shooting gun where you’ll shoot and then the gun passes it back to you. Okay.

00:18:45,370	So each one of those pie shapes is separated by netting so that there’s not balls flying around. Um, you know, kids aren’t running into each other. And each one of those bays has the NOAA technology that we’re talking about. The ball handling bays.

00:19:08,270	Kids really like that because, um, we’ve, um, 360 has combined almost like, uh, how do I want like, uh, video games? So they’re gonna you’ll have a screen and I’ll teach you ball handling moves, and it’ll have you do those ball handling moves and throw the ball against the screen to squash a bug. Right. And you get certain amount of points for that.

00:19:26,900	So it’s very interactive, almost like a gaming system on the ball handling side as well. There’s just a close up of our full court gym with the batting cage on the left hand side. There’s the dimensions of the gym and the turf. There. And then here’s some of those renderings that. Yeah, so this is what they’ll look like.

00:19:47,730	So there’s some seating in the 360 side by the shooting bays and ball handling. You can see the nets uh, in some of these renderings where the net comes down and divides each pie shape. Uh, the top right hand picture obviously will have an entrance and a check in area.

00:20:04,530	And then you see the stairs there that go up to the mezzanine up above. Um, and then the bottom right hand, you can kind of see there’s ball handling bays and shooting bays just from a kind of a bird’s eye view. This is, um, the top left hand picture. That’s this is the full court that’s going to be on there.

00:20:27,530	So we’re going to have six baskets in there. Um, the middle baskets are going to stay at ten feet, but the side baskets will be able to um move them up and down for younger kids. And, um, to be able to reach the basket. The, um, this is renderings of what the outside will look like.

00:20:47,000	And I believe on the picture it says Bismarck Basketball Academy, but we’re going to do it. We’re going to name it this sports, um, academy as we have multiple different sports activities in the in the ancillary gym there. But this is, uh, a rendering of what the facility outside, um, will look like.

00:21:05,630	Disregard all those trees. I’m not sure where those came from. Up there. Those don’t exist. Uh, Ben talked a little bit about this already, but these were. These were those projections of our employees and average full time salaries. Yeah.

00:21:23,370	So we’re looking at, like I said, 3 to 4, 12 to 15 part time. You know, we’re going to be in we’re going to have a payroll of, you know, down the road here in a few years of excess of quarter million.

00:21:43,000	Um, obviously this, um, this project, in my opinion, brings a lot to Bismarck, not only from the fundamental side of basketball and kids youth development and all that, um, but also from, um, property tax. Right. We’re it’s was just raw ground before. We’re building a nice facility that the city is going to be able to utilize taxes on, uh, make money on the on the tax side of things.

00:22:04,800	Um, you know, I don’t have that’s an, that’s a number that the city would have to obviously assess and determine, uh, projects that I’ve done before. We’re probably looking at 30 to 50,000. I’m not sure. Don’t quote me on that. But, um, that, you know, that’s that’ll bring, um, obviously revenue for the city.

00:22:26,500	I believe that because of the camps that we’re going to be holding, uh, Luke has tremendous contacts with, uh, individuals in the NBA. And so we’re looking at bringing people in from the NBA like a Grant Nelson to host camp there, which will influx people from all over the state. Um, whether that’s hotels, restaurants, staying there.

00:22:47,270	We hold a multiple day camp with Grant Nelson there or, um, I am very close with Ndsu. Uh, head coach Dave Richmond, MSU, um, Coach Jason Camp, and we will bring players out for camps out there.

00:23:09,070	Um, from both of those colleges, which would utilize and influx people into Bismarck, uh, to attend these camps, to spend money in Bismarck to get hotels, um, and to be part of the camp that we host. Um, ma’am, do you want to talk a little bit about, um, you know, like team training and and all that? Yeah, yeah. Like you said, with the camps, we we would like to bring in some outside guys.

00:23:24,630	Um, and just through the AAU experiences I’ve had, we that’s where we have those connections to bring those guys back and give back to the community and bring, I mean, kind of like Bismarck has with overnight extreme. Right. They have kids come from all over for the, um, cross training camps. Um, then ideal stuff. Uh, yeah.

00:23:39,170	We’ve already talked with our old coach from MSU. Um, he’d love to bring all those kids out. We pay their players and they they host camp with those with the kids that we have coming in, the team training stuff.

00:23:53,330	Um, you know, I have some buddies who coach around, you know, Minot, Dickinson, Jamestown and bringing them out and kind of doing a team bonding thing, bringing those kids out and having them be a part of it for a day. Uh, get to use the base, have a camp in the gym, then afterwards, um, do some things like that. And so, um, this one’s more local.

00:24:08,730	But Rick Newman reached out to me yesterday and wants to meet up to have he just said, you know, I’ve heard this is coming that you’re doing this.

00:24:21,170	Uh, we’d love to get our, our girls involved and either summer work or we do summer training with them, um, and also do some sort of nil stuff that he’s got in mind. So I’m with him next week. Obviously, those athletes are more local, but, um, we have that with India. Um, some Jamestown kind of connections all over to bring those guys out.

00:24:35,270	And they’re more than willing to do that to, to help out their players and get there, get their name out there, too. So, um. And let me, let me just one other outside funding opportunities. Is that what we’re what we’re looking to do as well. So obviously a majority of our individuals in this facility is going to be kids.

00:24:51,700	Right? Well, we want to utilize the gym, let’s say the ancillary gym, as much as possible. So what we’re going to try to do is we’re going to try to partner with local daycares, let’s say, and allow daycares to come in and use utilize our gym with our blow up, uh, bouncy houses.

00:25:11,870	We’re getting bouncy houses and allowing opportunities for these daycares or these big old child centers to come in and utilize their gym space. So that’s it’s a it’s different than just basketball and volleyball and baseball and softball, but it’s opportunities for other businesses in the community to utilize our facility.

00:25:31,600	Um, like a daycare where they can come in, reserve a time for an hour to get, you know, some five year olds, time on the bouncy houses and the opportunity to come and do that. Um, the other aspect and I think, uh, Luke would be a better individual to talk to, is, is the homeschooling aspect for kids that are homeschooled.

00:25:49,170	Yeah, that’s another uh, I have a couple of friends who homeschool their kids and got talking about this about bringing they’re bringing a I mean, apparently it’s bigger than I’ve thought for homeschooling.

00:26:02,100	Um, but they kind of have this community of of kids and to maybe bring them in and do some sort of credit that they have to get to to get their, um, their feed, you know, requirements met. And so, um, I’m going to meet with their group of people and kind of talk about, you know, what that would look like.

00:26:13,900	Or they come in and we do some sort of classes or games or things that we do. Um, and the other thing that’s unique that, um, I wanted to bring up to is, uh, the, my principal at Assembly, Russ Riehle, has done a phenomenal job of the mental health stuff with, I think through Sanford is what they

00:26:29,000	do, um, bringing them in and meeting with our kids and his son Riley. Uh, we’ve also talked with him about coming in and doing some stuff with, with our athletes of, you know, dealing with adversity and things like that.

00:26:43,100	Um, just the mental health side of stuff to incorporate them, maybe into our camps for 15 minutes where they come in and speak to our athletes about what, you know, what does it look like if you get cut in high school? What does it look like if you make the B team in middle school and your friends made the A team?

00:26:53,270	And so, um, yeah, we just got we just got a lot of cool things we’re excited about. And is there anything else, Ben, that you want to add in? Um, is that the last slide? Uh, worms? Yep. Okay. No, I think, you know, we can open it up for questions.

00:27:09,900	I know, uh, it’s kind of a lot. It’s, uh, drinking through a firehose with all that information, um, you know, but the, you know, the big thing is, is the uniqueness, the community involvement that we want to be a part of.

00:27:25,900	The, um, incentive for the city to have this type of development, um, the jobs that it’s created, that it’ll create, um, opportunity for kids is obviously one of our biggest things. Um, and it’s there’s nothing like it in Bismarck. Um, there can’t be anything else like it in Bismarck.

00:27:46,630	Uh, because we have the territory rights and, um, so it’s a it’s a pretty cool project that I know I’m super proud of and excited about. And I know, uh, Luke is too. So if you guys have any questions, um, you know, we’re here to answer them, and we’d love to hear any questions you have. Thank you for the presentation. Questions. I do have a question.

00:28:08,800	This is Mike Schmitz, and it’s probably more about just the facility itself, how special use is it, especially with the portion that’s dedicated to the 360? Is it is it. What I don’t my my fear is the building goes up and somehow, you know, down the road you’re not successful or you’re you decide to move on.

00:28:27,730	How easy is it to repurpose? Or are we having a very specialized use building? Well, that’s a great question, Mike. And in terms of specialized, you can you could turn it into once you remove the equipment, you could turn it into what you want.

00:28:46,100	I mean, really at that point you have a it’s not built on pole barn, but you’d have basically two pole barn buildings connected, whether that’s a shop for a local contractor, not whether that’s, you know, you got an electrical contractor and they need store space.

00:29:05,100	The biggest component of that, what we have here is just we’d have to remove the equipment. And you still have your facility there. Now, would you have to make some updates like some overhead doors to, you know, be able to get your equipment and stuff? Sure.

00:29:21,800	But it’s not like a gas station where, okay, that sole purpose of that gas station is a gas station. You can’t make that an office. You can’t make that a storage facility. It’s a station or this isn’t it’s not a one use because technically you could remove the equipment, you can remove the floor and under the floor it’s just concrete.

00:29:42,070	And so, sure, you might have to have a couple, um, renovations overhead doors for this example, but you can repurpose it for something else. Okay. And not that I want you to fail, but I just I want to make sure I’m not funding something that down the road becomes maybe an albatross.

00:30:01,100	I certainly don’t want it to fail either. And I don’t think it will, but that’s, uh. I do think. You’re right. I guess. You’re bringing something unique. I thank you for your presentation. I know, I’m told, Noah, to make sure that you brought some of this data.

00:30:19,000	Um, so we understand what you’re bringing to the community, not just the building, but, uh, the opportunity for some enhanced economic activity. My question kind of feeds into that a little bit. Um, so super unique facility, everything like that mentioned, like the 50 in the world for that.

00:30:40,270	So how confident are you guys that there’s the demand for this? And what do revenue projections look like? Great question. Um, so I think that I think the demand is very high.

00:31:01,470	I know Bismarck is a from I’m a basketball junkie, so I might be, um, you know, looking down this on, on a one road aspect here, but from what I’ve seen over the years, Bismarck is a, um, it’s a basketball. It’s a lot more of a basketball town than the town, than Fargo. Um, I think that there is not a lot of competition, I don’t think.

00:31:20,730	I mean, I can think of one person right now, and then I can think of another group that’s trying to do some basketball type facility. But there is little to no competition in Bismarck right now, which is a lot different than Fargo. And I’m not comparing. It’s just because I live here and I and I see the different pockets of competition on the basketball realm. Bismarck doesn’t have that.

00:31:40,470	Bismarck does not have a, basketball facility like this that kids can utilize, that they can get better at. Um, that’s all encompassed for basketball, volleyball, baseball, softball. So to me, the demand is there and the competition is not there, which, um, in my mind makes it, uh, you know, hopefully a successful. And I can add in, too.

00:32:09,370	I mean, Fargo is Fargo’s book solid all the time? You know, pretty much every hour that they’re open. You know, when school is done and then in the summer. And so, um, I also think volleyball out here is kind of an untapped market at the younger ages. Um, you know, my, my daughter loves volleyball.

00:32:26,370	And there’s, you know, obviously the YMCA does some great stuff, but and then there’s all the jail stuff, but just for like second grade to eighth grade skill work, I mean, that’s something that I feel we don’t have much of that. I think we could literally fill our gym just on volleyball stuff.

00:32:43,530	Um, but, you know, really when you, when you crack down the numbers of our schools and how many kids we would need to kind of have our gym fully booked. I mean, we were talking it was like five kids per grade level at a school.

00:32:56,970	You know, it’s it’s not a lot to have it when you put it that way with Bismarck, Mandan and, you know, all Shiloh added in there and Saint Mary’s and, you know, it was we we got down to the numbers. We’re like, wow, that’s really not that many kids.

00:33:09,900	And I just feel through, through being a teacher and connected to all the schools, um, and talking to a lot of the coaches here in town, I, I don’t see us having a problem of keeping this, you know, going consistently with kids, especially with the technology and perfecting their shots, which is, you know, why a lot of kids I think, you know, you see, with girls

00:33:28,330	basketball, it’s kind of a, a dying sport as they get older to try to keep those kids involved, to give them some success, to really help them. It comes down to, can they, can they score or not? And are they do they feel they don’t have a purpose because they don’t.

00:33:39,530	They can’t maybe. Or they’re not. They don’t have a good shot. And I think even more than than just the shot side of it. But just building confidence with these kids and, um, we’re just really excited about that too.

00:33:53,370	And one other one other answer to your question, there was, um, so the 360 side is membership based. So it’s all membership based. Um, we highly believe there’s a significant demand for it. And in Fargo, they had a waiting list of 75 people or families. Again, Bismarck doesn’t have the the competition like Fargo.

00:34:22,870	And we feel the demand we will have to have a waiting list. And if you get off that waiting list or if you get off our membership, then you have to go and you want to reapply. You have to get part of that on that waiting list and wait it out again.

00:34:37,170	And so I think that’s I think that’s a telltale sign of, um, how well we think it’s going to go. What is it? What does it cost. Memberships right around 150 to 160. Yeah. That gets you unlimited. Um, basically in a day you can do 30 minutes of shooting, 30 minutes of ball so you can be on for an hour between the two.

00:34:59,000	And that’s unlimited amount of time. Now we’re just talk for that aspect. We’re talking specifically for the 360 side, the ancillary gym side will be, you know, um, my kids do it, you know, part of it here in Fargo, it’s K through one, right? Kindergarten and first grade. They have, uh, after school basketball for an hour.

00:35:21,630	And there’s a group of 12 kids. And so that side is different than the 360 side. The ancillary basketball side is not membership based. That’s all. Sign up. Um, you can sign up this month if you don’t want to sign up next month. You don’t have to.

00:35:38,600	Um, but the membership side is on the 360 side, and I think so we’re kind of talking about two. Different question a little bit. I think it’s it’s, um, there’s a point where you cap out and we wouldn’t take members, right? I mean, uh, we don’t what we don’t want.

00:35:51,000	And we’ve talked to Fargo about this when we went out to corporate in Portland. We talked to them about this. What you don’t want is people calling, saying, I have a membership, I can’t get in. Right. And so, yeah, we understand that. We know where that cap kind of is.

00:36:03,900	Um, and you kind of just got a teeter with that whether, you know, do we got to scale back on a few members and we cut it down, or do we, can we add a few more in? Yeah. Yeah. I got a couple maybe clarification. Can you break down ownership structure for me.

00:36:20,870	So is the, the the Land Holding LLC is different than the operating entity. Am I correct in saying that. You are correct in saying that being that, uh, Luke is part of the ownership in the operating entity? Okay. I just noticed on the scoring matrix, it scored a zero on that.

00:36:41,070	So I wasn’t sure how that breakdown because it’s you in Ray that owned the land, I’m assuming. And then Luke, you have ownership in the operation operational side. That’s okay. So Ray and I own the real estate. Real estate land and building. And then, um, Luke is, uh, in the ownership and has majority ownership in the operating side with Ray and I.

00:37:05,100	Okay. The reason why it’s scored is zero is, you know, I think is because the application is for 43 land, even though we have ownership on the operating side, the real estate side, um, Luke isn’t a part of.

00:37:26,000	But in my mind, it’s more important to have somebody on the operating side in the ownership on something like this, because the operating side is what’s paying your PMI. And so I that just we scored a zero because it was for 43 land that the the application. But in reality we got a guy that’s the majority owner in the operation in Bismarck. Yep. No I totally understand that.

00:37:49,000	Just wanted to clarification from the application. And then my next clarification question would be I don’t know, could we approve something that doesn’t have a dollar amount in there? B and we don’t know. And I, I think I know how this works. But I would think we’d need to put a dollar amount in there.

00:38:04,800	In that dollar amount. Are you referencing total project costs or. I’m not. What are you know. So no. So that’s the. Yep. So that would be the amount of Vision Fund requested.

00:38:23,000	So if you look at your anticipated, um from Bank of North Dakota, the flex pace dollars, that would be the community buy down amount. So I’m thinking that it would be assumed Noah that that it would be that 107 692 30 but I mean, if we’re going to approve this or, you know, send it to to the city of commission, I mean, we should have a dollar amount in there. Mm.

00:38:42,030	And that, that, yeah, that I, I mean, I didn’t know I don’t know if that was for us to put on there. I just, I guess I didn’t know the answer to that. So. Right. But that’s what we’re approving here. That dollar amount. That’s the Vision Fund.

00:38:55,530	You know portion is the is the community portion of that. So um, just based on my professional knowledge in the banking world, I think that we would I think that would be the dollar amount that we would need to put in there for right now. I know I do want to speak to that. Yeah.

00:39:16,970	Yep. Thank you for the question. So they were still figuring out some of that last minute stuff, which is why we have this like draft one from B and D with this amounts that you referenced the 107692. Um, you could choose to put that amount for it.

00:39:33,270	And if they needed to change it, they’d have to go back to you guys and then have to go to city commission and get it changed. Um, for the moment, I think, Jeff, if you can talk to it, if there’s going to be a change sooner rather than later, um, that’d be great. The whole idea. Was I knew I was gonna make it work today.

00:39:51,370	Yeah, exactly. Thanks, Joel. Um, Jeff, Vink, I work at First International. Um, I just I know, Ben, I know Luke, this project. So there’s a lot of kind of behind the scenes stuff that is not all finalized. We felt it was important to get in front of the committee here to kind of explain the project.

00:40:09,270	Um, have Luke explain, you know, how important this will be for the community of basketball. I’m also a basketball junkie, just like the rest of these guys. Um, so there’s not anything like this in town.

00:40:25,370	There’s a lot of stuff that does need to be figured out behind the scenes yet, but we just thought it was important enough to try to get in front of the group, show what the project looks like. And I get that, you know, there’s a dollar amount specific to this, but if anything would change, we could bring that back. So.

00:40:41,500	Jeff, how fast would you be closing? Because that becomes another question. I, I’m, I can get my head around the concept and the dollars. I think we can. There’s a way we can do our motion as far as the recommendation of the city commission, but we, as you’ve witnessed, we struggle sometimes with one year being too short to get everything done right.

00:40:59,730	Um, well, and, you know, the as far as the financing side of it goes, that isn’t all finalized either yet. So I was just here as support. Um, you know, there is work being done. I think Luke said there was some approval stuff that was done today. Um, yeah. So there’ll be work happening now? Um, yeah.

00:41:19,900	If it’s not a real specific facility. So, I mean, we see construction projects that take 18 months, like the other one you were talking about earlier. So I don’t I don’t feel like it’s going to be something that’s 12 months long. If they get going right away.

00:41:35,170	So no, and I can I can talk on that behalf. So we just got approval from the city for a building permit, um, and site permit. So they’re going to start scraping on Monday. Um, so to work with Jeff and end up getting closing, we’d obviously have to get that done sooner than later.

00:41:52,630	It wouldn’t be pushed out many, multiple months here. Um, as they are starting to work on Monday and we did get approval from the city. Okay. Right now they have an estimated time of, uh, December 1st being done in us. So this year. What do you think that magic number. Is of people.

00:42:18,000	You could serve, members you’d take in a month? Um, we’re thinking, I mean, are you at the maximum or are you talking break even or. You said that there was like, a. A magic number that would make. It so everybody. Would have about as much access to the shooting as they wanted.

00:42:36,530	Like, I was just wondering about how many families that or how many kids that is. We think it’s around the 325, anywhere from 300 to 350 that 325. And some of the 360 are different. Some have four bays of each. We have five, so have six.

00:42:51,000	You know, it’s just all based on their buildings. Um, of the 50 that are out there. But that’s what we see, um, comparing to Fargo. And what if I just jump in, quit what corporate always says, and we don’t believe it necessarily. As they said, you can get 100 kids per bay.

00:43:08,270	So our technically our on their terms because we could host 500 kids now in reality could we make that work? Probably not. We’d have to have a bigger facility, more, you know, a lot more space. So we’ve done due diligence and saying, okay, the 325, the 350. That’s probably ideal.

00:43:29,100	And what we could house with the time frame we have the size of building, the number of bays. Without people being disgruntled about not getting their time. Yeah. Any additional questions? Any discussion? I know this one got a eight on our matrix.

00:44:01,900	So could you guys break? Could you could you explain to me this is my first time ever with Vision Fund or, you know, anything like this? Could you break down how that works for me a little bit? Just on the like, you talked about the funding that’s available.

00:44:18,870	And I mean, I, I get the whole concept of Vision Fund, but how would that articulate to us if we did get approved? Can anybody speak on that? Um, I can kind of and then others can chime in that have been around longer maybe.

00:44:38,630	Uh, so the scoring matrix matrix gives us a reference, a little bit of like kind of the standard criteria of whether we recommend to move forward or not. And so based on how yours is scored, you’re at an eight. And so for me when I look at that it if you look at it it’s minimal. But the factors in that to Joel’s point of operating ownership is local.

00:44:55,900	And so that’s a factor where the scoring matrix itself doesn’t determine are you approved or not, but helps us inform for our decision. And so as I’m looking at this, it’s like this is a significant investment. Cool unique opportunity to and you guys have good points for like what it brings to the community.

00:45:12,000	But at the same time I am waffling on what is the projections of like, how confident are we that this is going to be a success in total? Two because it is a significant investment. So that’s where my head’s at while I’m looking at this. Is that okay? You scored an eight.

00:45:29,600	I’m giving some leeway a little bit because of that ownership piece. The other one that scored against you. And that’s why I spoke to projections. Is that question number six on The Matrix is um, you get zero points if you’re 0 to 10% or a startup. And so that’s why I was asking about projections to better understand what’s up ahead.

00:45:47,500	How soon will this be kind of operational and in the green versus are you operating at a loss while you build up programming for a couple of years? What does that look like. In the way that. Into further so on the start up, I think uh, later on.

00:46:05,470	Well, I don’t know if we’re going to get to it today because of whatever the time limits might be, but we’re actually looking at making some recommended changes to how the matrix is done. A startup is getting zero points there, and that’s not fair. And so we’re looking at how that can be adjusted.

00:46:24,800	And I, along with the other members, believe that probably should have gotten some credit for the local ownership in the operating entity. And actually the staffing that’s going into the opportunity that really isn’t being reflected in your application. And that’s probably some some things we need to work on policy wise.

00:46:44,270	Um, to go back, we were we were pretty inactive for, I don’t know, Jason. Tell me, but probably ten years didn’t have many requests for Vision Fund assistance. And so we kind of open up the kind of open up the door and try to create a matrix.

00:47:01,270	And all of a sudden we got things coming that we’re not as unique as this, that we started finance, and then we start to pull back, okay. Where, you know, where do I get to be too far off on our skis? So, um. Okay. This other shooting places in town though, right? They just don’t have the analyzing, um, capabilities. Right.

00:47:20,630	Like by, like, uh, just going to shoot around or like a, like a shooting gun. Yeah. You could you have something. that. Correct. Yeah. That exists everywhere. Yeah. That you can something that passes you the ball, that you shoot it and you don’t have to go rebound it. But as far as any analytics nothing. Yeah. Yeah.

00:47:37,170	And growth potential like you mean you have three full time, ten part time. Um but it’ll always forever be a shooting facility. Like like it’s not I don’t know what it would change into or. Just that side of it. Yeah. That part of the gym. Yeah. Okay. Yeah. And on, on the on the projections.

00:47:58,630	I mean, I don’t think I’d disclose like our pro forma and our projections. Um, but we, you know, prior to opening, we funnel what’s called a pipeline. And our founding members.

00:48:19,600	So our first 100 and roughly 150 families or individuals will be on the founding members side for the this is just 360 now, just talking to 360 side. And they’ll get a little bit of a discount. So we before we open we’re going to have hopefully 150 members at least that are going to want to be part of the 360 that are going to be allocated to founding member.

00:48:41,730	And so we’ll know from the day that door is open, we’ll have revenue coming in based on those memberships. And those memberships kick on, the revenue kicks on as soon as we clarify, um, are an open date. No, I think this is a great this is a great value add to Bismarck.

00:48:59,370	Um, you know, and I do appreciate you guys looking at, you know, some of these other avenues, too, like the homeschooled kids. I think that’s a a great idea. Um, what you guys have going there. So, um, with that, I’m going to make a motion to, uh, to approve.

00:49:20,170	Is there a second? Um, do we want to put something on that motion that says up to or whatever our commitment is up to the 107,000, because that’s probably the max. Anyway. Correct. That’s going to be the max on it anyway. So I say we approve up to that 107 number. Is there a second. I would second. That. Further discussion.

00:49:44,170	I only point would be, um, this has been great for the Vision Fund. I would suggest that you get more to the specifics points when you get to the City Commission presentation. Um, I don’t know that I don’t want to leave out too much, but if you spend an hour in front of the city commission on this, you might lose some of the commissioners. Agreed. Roll call, please.

00:50:11,900	Member Scherr. Yes. Just hold these guys. I just want to give you. Member Schmitz. Yes. Member Stugelmeyer. Yes. Member Petersen. No. Okay, great. Um, item number seven, job investments. Thank you guys. Perfect.

00:50:47,730	Again, you have in your packets an application for Glance Spon Salon, otherwise known as Jab investments for the local match of the Bend’s flex pace program. Um, their amount is up to $70,431.87. Commitment from the Vision Fund on the project will be located at 407 North fourth Street, where they are currently located. Um, Andrea is the owner, Andrea Burst. She is online available for questions.

00:51:10,170	Uh, Heather is here. She’s an employee. She’s going to run through the presentation for y’all. I promise I’ll make it short and sweet. Okay, perfect. Okay, so my name is Heather Pitsiladis, and my sister, like you said, is on the phone. Andrea Birst, and I managed.

00:51:44,330	Glance Spa and Salon and we have been in business since 2009. Um, like you said on the corner of fourth and Rosser. So 16 years in business. And, um, we are very grateful that we have a really good reputation for excellence in the salon and spa industry in our community.

00:52:06,270	Um, we are one of the community’s only full service spa and salon. There’s a lot of salons around town, but we are one of the truly the only full servicing salon in spa in the area. We are a team salon and we do believe in community innovation and growth.

00:52:24,230	Um, we invite you to come check us out, but we definitely do a lot in the community and you can see that on our website and Facebook and all of that. Um, as. Far. As remodel plans, we are working with Endeavor North Design. They are wonderful. We are really looking to modernize our spa area. Um, our salon has had improvements and updates throughout the years.

00:52:46,270	Our spa has virtually remained untouched, so we are looking to recreate a really, um, cohesive, functional treatment space. Um, not only for our guests, but also our team members. We are looking at updating plumbing, electrical, windows, flooring, bathroom, basically enhancing the entire space, the entire spa area.

00:53:07,630	Um, we really do believe that this will support long term growth for our business. This is a few photos that endeavor has put together for us. Um, we have our spa area, we have pedicures down on our salon floor. We are looking at bringing them to the spa area just to maximize space and efficiency. Um, you can see our nail area there as well.

00:53:27,900	And one of the mock treatment rooms as well. So what kind of community impact will this have? Um, this will strengthen the wellness and self-care industry in the Bismarck community. I’m sure you guys have heard it is a hot industry right now.

00:53:52,470	Um, all of the, um, self-care and wellness, um, and we’re here for it. We’re excited about that. It will create a welcoming, accessible, functional destination spot for Bismarck. Our salon is thriving. It is a very busy business. We are very grateful for that. But we just know this will take it to the next level.

00:54:09,730	Um, this project will make it easier for our clients to incorporate wellness and self-care into their daily routines. This will also enhance the vibrancy of our downtown Bismarck area by attracting consistent foot traffic.

00:54:30,430	And we have been in business for 16 years, and this project really will reinforce Glance’s long standing commitment to serving the Bismarck area for the next 16 plus years. What will this do for employment? We currently, um, have 12 full time employees, and I do just have to say it is a very freeing and good feeling to work for a community, um, driven entrepreneur. Andrea. She. The sky really is the limit.

00:54:55,530	So I, I do feel that these numbers could be even more, um, after post remodel, we, um, expect and plan to have additional five full time employees as well as two part time employees. This is a five year projection. Um, and we truly believe that.

00:55:15,900	And this remodel will attract local talent, but it will also create career and economic growth for our Bismarck. So why us? Why Glance Spa and Salon? First and foremost, we do love our community. Um, that’s evident in everything we do. We love Bismarck. We’re committed to Bismarck. We are established, local, thriving business, and we’re grateful for that. We are committed to growth.

00:55:39,800	We are committed to positive community and economic impact. So that’s what I have. Do you have any questions? Thank you. Heather. Yes. Any questions? What um what’s the projected increase in taxable value of the facility? Andrea, are you on? Yes, I am on. Can you guys hear me? Yes.

00:56:13,500	The growth in the value of our space is approximately $340,000. Post model. That doesn’t speak to the growth of our income, which is the value of the property. So that’s the anticipated new appraised value. Correct? Correct. Or increase in appraised value. Okay. Thank you. Increase of appraised value. Yes. Yep.

00:56:42,470	Will you be offering any new services with this new remodel like specifically that are unique to your business? Only? Um, yes. So. Oh, perfect. Take it. Andrea. Sure. If you guys can hear me. Okay, I’ll speak to that too. Yes, we are planning to offer a funeral services which we haven’t been able to offer thus far in our spa area.

00:57:01,170	We are going to create a wet area, wet treatment area that will house some head spa beds with wet body treatment beds as well. We will also have a body healing red light therapy and sauna space to offer those wellness treatments to our guests, as well.

00:57:29,000	On the scoring sheet, uh, the question number seven is the project providing an unmet or under met need in the city of Bismarck wasn’t answered. Do you think that it is providing an unmet need? I did speak to that a little bit in some of the, paragraphs that I submitted. I do believe it is fulfilling an unmet need.

00:57:47,900	I think Heather touched on it a little bit specifically to the fact that I do love that glance is a full service salon, and father is very few businesses like that that welcome guests to come in and have all their needs taken care of.

00:58:06,600	And one establishment we look to be able to provide that further with this remodel with our current space. Right now, we can’t offer these services as well as we would like just because we have lack of plumbing and electrical, and it’s just really hard to even attract talent to work up there or make these services even possible.

00:58:24,730	So to me, the unmet need would be obviously just the downtown area itself and the all encompassing business that we can offer. Thank you for clarifying. How much of the improvements is plumbing and HVAC related? Electrical related? That is probably specific to your business. What was that? Mike, can you repeat that? How much of the.

00:58:55,230	Can you hear me now? We can. Yes. Yep, I can. How much of the improvement dollars that are being spent is for plumbing, electrical or HVAC? That is specific to your business? I.e. another business would not be able to use it? Not much of it is truly specific to our business.

00:59:20,900	The only thing that’s coming to my mind right now would be in one treatment room, specific, with certain plumbing that has to come to up through the floor in a certain area for two beds. Otherwise, the majority of the plumbing and electrical work would be not specific to a spa salon other than those two treatment rooms. Specifically.

00:59:44,230	Thank you. Yeah. Uh, this might be a question. Um, for you, measurements or Andrea, for you. I’m curious for projects that have, um, Renaissance Zone in this case, that’s they’ve applied for that.

01:00:09,900	How is that factored in and weighed in the decision or like what’s your thought process when seeing that? They did they I haven’t gone back to history, so I apologize. Did they previously did you previously qualify for Renaissance Zone treatment? Yes. It has not gone to commission. Mayor Schmitz and committee members, this is Jason. I believe the request for the Renaissance Zone exemption is on the agenda for the City Commission this coming Tuesday.

01:00:33,430	Uh, so this request predates that. Maybe the biggest differentiator between the two, uh, the Renaissance Zone program is a five year property tax exemption for businesses that qualify through significant improvements. And those improvements are tied to the facility. If they were to leave, it’s something they would leave behind.

01:00:51,530	So equipment and specialty things not applicable, but they would be significant improvements to the building. And in this case, the building owner is requesting a five year property tax exemption based on those improvements.

01:01:10,870	And then similar to the previous Vision Fund request, where you have a holding company and an operating company, it’s my understanding the operating company is thereby because of the investments being made by the holding company. The operating company is eligible to qualify for a five year state income tax exemption on the revenue that the business generates at that location. Andrea, did I get that? All right. Yep. You did okay. Thank you. Yeah.

01:01:35,930	So and I probably should be able to know that, but I haven’t been able to get to the agenda for the city Commission meeting yet. So I apologize, but. Um. It was just posted yesterday evening.

01:01:50,270	So the the package hasn’t hasn’t been out there yet, but I guess the to just say it as quickly as I can. The biggest difference between the Renaissance Zone program and the Vision Fund program, the Renaissance Zone is a five year property tax exemption for the holding company and a five year state business income tax exemption for the operating company, whereas the Vision Fund is what it is. It’s a buy down.

01:02:10,530	So are there concerns with using both. Committee members at this time? There is nothing that prohibits any entity from utilizing multiple incentive packages. I think it’s an interesting project. I just don’t know, like it’s like a remodel. I think I feel like a lot of times we’ve funded new stuff.

01:02:36,230	Um, maybe we have done a few remodels. I don’t know. And I don’t know my. Other what’s going to happen going forward. But I don’t know. Mike.

01:02:54,000	My other concern is, and this is nothing against Glance Salon, I think they are a great community partner, but this is not a unique business all in of itself. It’s it’s got a lot of services that other people are providing within the community. Whereas the last one we heard is quite unique and different from the differentiated themselves. And it’s not brand new construction.

01:03:11,730	But, you know, that’s part of why we’ve got other discussions coming up either later today or in our next meeting as to what are our targeted industries. So I’m, I’m. I’m struggling on this one a little bit more. And I just just am I. I do remember we, um, denied a similar type of facility.

01:03:36,100	It was going to be a brand new one, but an expansion of a business, um, a salon one a few years ago. So I’m just trying to wrap my head around how this would be different, but.

01:03:59,000	I think the part that I appreciate in the application with it is the increase of revenue for what it will bring them, but I agree with those same concerns though. So I’m also kind of struggling a little bit. But like seeing that it’s going to boost revenue for what that brings both to the community and for that. But I’m struggling in general to. Any other questions? Do we have a motion? I do have. A business.

01:04:36,430	I have a professional relationship with the applicant. Um, so I would before we would, you know, take anything to vote or anything like that, I would, you know, leave that up to the committee members on, you know, whether they would want me to vote or not.

01:04:56,630	I know you didn’t vote on one other project, right in the past. Or did we just, you. Know, I ended up voting on it. Okay. Then. Joel. Well, the question is, what’s the relationship? Joel? Uh, professional, you know, in my industry of banking. So no individual benefit. You know, for me, for this project going through, obviously. But. I guess I’d be fine with Joel voting.

01:05:24,470	Yeah. I think if there’s no individual benefit, then I don’t have concern with that. Okay. Do we have a motion for anything? I think my recommendation would be this should go to the to the, um, North Dakota Opportunity Fund for the local match.

01:06:03,270	Is there a second? I can I I’ll second that. And then we should have some further discussion as well. Yeah. Um, we have a first or a motion and a second further discussion. So on the timeline, Noah, you might need to, to speak to this. So would we be able or Mayor Schmitz as well.

01:06:22,800	Would we be able to send that recommendation with this, with that motion to the city commission so it would get on the next city commission meeting when possible? If they make that choice, they could hit the next. It could hit the the first commission meeting in May.

01:06:46,900	Which will be the next one out. It would be next Tuesday because the agenda is already posted. Can someone clarify what the motion was? Again, it was sorry. Well, it wasn’t technically a motion. It wasn’t technically a motion. Okay.

01:07:10,800	I thought you kind of made a motion, but maybe it wasn’t. Okay. So wait. Okay, so I guess we need a technical motion. Then someone. Want to. Well, so. So our motion would be, I guess, if I was going to make a motion, my motion would be to deny, but recommend they apply for the the letter of support from the city Commission. Is there a second? I’ll second.

01:07:35,700	Uh. Okay. So just one clarification. The motion is to deny. Right. So voting yes is we’re denying okay. I’ve never done it that way. Thank you. Mayor Schmitz.. Yes. Member Stugelmeyer. Yes. Member Scherr? Yes. Member Petersen. Yes. Thank you. No. It’s all good. Yep. Okay. Item number eight. Vision fund budget discussion.

01:08:16,800	I don’t know who has a Vision Fund budget discussion. Item eight and nine is policy discussion. Um. Thank you. Committee member Petersen. Uh, I think you guys made a brief mention to timing. Do we still have time? That’d be a. It’s up to the rest of them. As long as the room is available. Go do it. Ten minutes.

01:08:41,000	Uh, we have four proposals for motions, so maybe we try and hit the budget one, because that is just a singular one. Um, but the other three would maybe benefit from a longer discussion in May. I just wonder if, since we’re missing Mike, too, like, I feel like he’s got a lot of. That’s history.

01:09:02,100	Would you like to at least talk through them and not make any motions if you have? Yeah. Why don’t. You talk. That room? Let us have a heads up. Yes, but I think. Yeah, I would like Mike’s input on this. Phenomenal. So we have four motions in front of you.

01:09:15,230	Uh, one of them is a budgetary one with, uh, two options for y’all in set annual disbursement from the City of Bismarck, general fund of a certain amount of dollars above what’s currently distributed for economic development. That 250 is currently annual.

01:09:36,370	This would be set for Vision Fund, um, use primarily for that flex pace match. So that would be up to y’all’s discussion at a later date of what you would recommend to the city Commission, because it’s monetary, uh, what amount? There is a second option there.

01:09:51,370	If you were to choose to do that, which would establish a floor or a ceiling where a floor where if it was hit, it would trigger in a request, uh, which could be incorporated into that first motion or enacted by itself.

01:10:13,270	Do you have a recommendation between the two options of like, are these, like equally weighted in your opinion, or where is your head out for that? I think where it’s at right now is that motion option one is the cleanest, and that motion option two could be used to, um, tag along, um, depending on what would work best from a city commission monetary request, um, vehicle.

01:10:31,330	So if I can speak to it a little bit, this would be a request first to the Budget Committee for the city. The budget Committee would put forth in their budget for the general fund, an allocation.

01:10:52,270	If the Budget Committee doesn’t support it, then the next step would be probably the when we run, when we run out of the pool of money to go directly to the city commission and ask for an additional allocation, potentially out of a another source of funds, that’s really economic development related, which is the Northern Plains Commerce Center. Any further questions on that motion? Things we’d have to talk about are which one you would want to choose and what that X amount of dollars would be.

01:11:16,170	So when is our meeting in May again? What’s the date of it? It’s like it’s the fourth week, right? Fourth Thursday. Correct. Fourth Thursday. It would be. 2020 eighth. Okay. Okay.

01:11:38,270	That I will tell you if we need to make the recommendation by then for sure or it will not hit this budget cycle. It may even be tight at that. I’ll Jason. We would also have Mr. mayor a another two applications right now pending for Vision fund 1 or 2 that would make it on that May 1st.

01:11:59,430	Well, I mean I think what what’s the mayor’s recommendation on these amounts that he thinks the city would be willing to put in every year an annual disbursement? I don’t even have a handle on what that would be. I will my my gut tells me and I, you know, we have some limitations within the city on what revenues are available.

01:12:18,800	I would like to see where the city starts to dedicate some dollars to the Vision Fund to be used for these loans, and ultimately the loan pool may be self-funded with repayments. If if we think we’re going to have three, 4 or 5 kind of max fundings around that $107,000 a year, that’s the amount.

01:12:44,000	So somewhere around a half $1 million in addition to the 250,000 that’s being currently, uh, putting into the Vision Fund to pay for the economic development activities of the two organizations that are providing contracted services. Um, I don’t know that that will get through. I that’s a pretty big ask.

01:13:08,370	I don’t know how our budget is going to look yet, so but I do think it’s important to get the requests there. And maybe it’s up to I mean, I. If we don’t ask, it’s never going to get in the budget. Well, I.

01:13:28,230	guess since the timing of that one is kind of critical, maybe we do push that one or we discuss pushing that one forward. I think, Mike, I don’t know, I guess I can’t speak for him, but. What do you guys thoughts on motion one and two? Like Noah said, motion one and then have a fallback to to kind of go hand in hand. I’m curious.

01:13:51,530	Others perspective two is it worth doing like kind of mashing the two together a little bit of a smaller annual disbursement every year. And then where, like, we will agree that we’ll go and ask when needed after that. So we recognize it’s not going to like fund every project there, but it starts to set some aside.

01:14:11,900	Um, and so I would kind of lean on you, Mayor Schmitz, for maybe your thoughts on that, but that when hearing you talk came to mind. And go back in history, which I’m only going to go back from what I’ve learned and and followed history for the last 40 years.

01:14:33,330	There was a dedicated amount set aside every year out of the sales tax. And, Jason, you can probably help me get to the number, but that or the year, that kind of ended in somewhere around 2010, did it not? Jason. I believe you are correct. Yes. And so that’s because we stopped.

01:14:53,100	We no longer had much activity going on. I think if we were so successful as to get a quarter million dollars for, um, projects moving forward, that that wouldn’t be a pretty big first step.

01:15:15,370	Um, and then we could put in there that we will cap any dollars we have in our available, available pool of dollars at a half million dollars. Never. When we ask if we have more and a half million dollars, because that’s kind of one year’s fund, maybe. I mean, historically has been now, obviously we’re starting to get some activity here. Two more coming next week or next month.

01:15:30,870	I don’t know what the value validity of those are, but also we are going to be talking about how we maybe have more targeted industries that that no, no on the chamber. EDC can say to the applicant, you got a long shot making it through this because it doesn’t fit A, B, C, or D. So do we have to make a motion to do these motions or.

01:15:56,330	I don’t know. So I, I I’ll take a stab at it. If I would make a motion that we request, put a request to the budget committee to consider for the 2027 budget year, in addition to the $250,000 for economic development contract, an additional $250,000 for Vision Fund loan capacity, and I will leave the other portion and

01:16:26,530	that’s it. I wouldn’t address the goal and ask if we need, because that can always happen. I would second that. Is there a second? Okay. We have a motion and a second. Any discussion? Okay. I want to call for a vote. Mayor Schmitz. Yes. Member Stugelmeyer Yes. Member Scherr. Yes. Member Petersen. Yes.

01:16:53,300	Okay. Motion passes. The other ones. Noah, can you give us a quick. Yeah. I can give you. What they are. And if they might need more discussion with my being here. A quick one two punch of the remaining three, uh, policy discussions.

01:17:09,070	So there’d be a target industry advisory board that would be led by the chamber of EDC. Um, the chamber EDC, economic development team, and primarily a member of this board would be the vice president of economic development of the chamber EDC, who would sit with the Bank of North Dakota, City of Bismarck and North Dakota Department of Commerce, uh, provide recommendations to that board.

01:17:28,330	The chamber would provide recommendations to that board, and then that board would decide on, like you say, like an A, b, a, b, c, d and a, b, C, and ab, which is an A target industry for that year. Um, and that target industry would um, get a designated scoring advantage on that matrix. Um.

01:17:53,430	Nuts and bolts of. It all. Would one of the members of that advisory committee be from this vision Fund or somebody else from within the city.? That is a good point, Mr. Mayor. I would imagine that when I was thinking of it as an employee, just so it would have continuity.

01:18:14,800	Um, but I would imagine also a member of the vision from would also have continuity. Um, it would depend on what the Vision Fund would decide. I know previously when this was discussed, I want to say maybe in February even, um, just the concept of this.

01:18:33,370	I feel like it was mentioned in passing that it would be good to have someone also from the Vision Fund just at this. Speaking from a reference, I agree not chairing it by any means, but I do think that would be good perspective in there. Um, is my thought. I could make note of that and change it before you guys would see it with Mike. Um, and vote on. It.

01:18:56,030	Ultimately, this board would recommend it to Division Fund, but division would being there would also, I think benefit that group. And do you guys disagree. Is that unnecessary? I’m not. That’s not a hill I’d die on either way. So I agree with you I think would.

01:19:09,470	Be good. Yeah, I think it makes sense. I guess this one seems. Basic too, and not a lot of discussion. The other ones it looks like, would be changing some of our matrix. And I think maybe I’d rather wait on that one to discuss.

01:19:29,430	But I guess is there a motion for this item? Yeah, I would be comfortable, um, with that adjustment of having someone from the Vision Fund represented within the committee, uh, forming a committee for what you had described, uh, for this. So motion. Is there a second? I’ll second. We have a motion and a second take a vote. Member Stoudemire. Yes. Member Scherr? Yes. Mayor Schmitz. Yes.

01:20:00,900	Member Petersen. Yes. Okay. Um, the update to item six on the scoring matrix. So, like, uh, commissioner share or committee member share mentioned today.

01:20:29,230	Um, question six, does, uh, ding start ups at the moment? Uh, and we were trying to evaluate a way that would help alleviate that and still have a benchmark that would be relevant for startups. Um, so we established instead of a percentage based off of past revenue, we would have a set dollar amount. Um, if the Vision Fund were to see it fit, to have a different monetary benchmarks for each one of those point values, chamber EDC would be more than happy to change that. To reflect.

01:20:51,100	I think I was the one that kind of brought this this issue up a couple of meetings ago, and I fully support the, the, the proposed changes in regards to the matrix. I think it makes a lot of sense. And we can’t, um, you know, penalize these, uh, these startup businesses because they’re important to our community.

01:21:07,570	So I also support the change. The part that I’m wondering for, um, like the revenue buckets for if they’re a new startup business is like how we came to those numbers and what that looks like.

01:21:24,000	Um, just kind of curious for that part of, like, how you decided on, like, 0 to 200, for example, versus higher revenue for more points kind of. Thing. And I know I’m putting it on the spot. Yes. Um, I think Mr. Mayor would be a good person to also ask that question, too. But it was kind of just a starting point to talk to you all. Um.

01:21:42,900	And my biggest thing I’ll clarify is I’m just like, I want to make sure that that’s what we want for growth in businesses or what we want that target to be before assigning the point value to it. But I love the concept overall.

01:21:58,530	I’m just like, is that what the realistic like? Yes, this is good for our local economy. And so this makes sense for Vision Fund to be investing in for those point values.

01:22:17,600	Yeah I know um, when they initially did this matrix at the chamber a couple of years ago or when this, this started, um, I know the, the big thing was they reached out to a lot of these other funds throughout the state. So I don’t know if they, you know, if they got some of these numbers from some of the other, um, you know, cities, Williston, Jamestown, uh, places that utilize their, their funds a little bit more than we do.

01:22:33,270	I’m not 100% certain on that, but I know that’s where the scoring matrix was derived. And a lot of the the key stuff in there. So I don’t know if you guys looked at that. Noah, when you guys recently made these proposed changes or not. But I did not reach out.

01:22:50,630	It was just a let’s start something for a discussion to put out of. I mean, like, there’s no scientific method to it, I can tell you startup businesses could start with, you know, year one, $50,000, or they could have $1 million of revenue. Um, honestly, it probably doesn’t really matter as much as how sustainable it is beyond that.

01:23:10,430	But we have to start with something. Um, I don’t know that 50,000 or even $200,000 of revenue, new revenue generates really significant value in the city of Bismarck. And year one, 2 or 3. But, you know, it’s open to interpret it. Discussion.

01:23:30,800	But if we’re if we’re looking at someone who’s going to potentially invest in some real estate, I would guess they’re going to have more than $200,000 of revenue in their projection in year one. But I can’t start with 0 to 0. And and, you know, it’s up to you. That’s why this is a discussion.

01:23:47,870	We just want to you know, I think it’s got to be for startups. It’s got to be some expectation of what their revenue projection is going to be. And the higher the number, the more point value. So 0 to 200, it probably doesn’t get very many points right, 200 to 1 million gets more. You know, whatever.

01:24:03,530	We can have that scale however we want. Uh, and since since we’re presenting today, I didn’t expect that we’d have a decision on this today as much as get it in front of everybody.

01:24:20,470	Just start thinking about what those what numbers make sense? You know, when I, when I meet with clients that would be looking at starting something, they’re probably going to be looking at at least $1 million of revenue, or they’re not going to even start unless it’s a pure professional business. That’s a different story.

01:24:43,370	And this could be if I could maybe pull from going and talk to other development groups, I could go and talk to, um, some lenders in town. I could also average what we’ve been in, go back in contact, prior vision Fund projects that are startups, and see what they had in the first three years of their actuals. Um, and compare that to if they had three years of projections before starting, um, I think Mr.

01:25:01,370	Mayor and I were just trying to get something down. I think it’s yeah, I like that we’re continually modifying this matrix. I think it’s it’s a helpful tool. Since I’ve started, I’ve been on the Vision Fund a long time. I think it definitely helps guide us in the process. And it’s.

01:25:17,800	Yeah, meant to change it sounds like the mayor said he wanted to just get it out there. Maybe we don’t vote on it today. Is that what he was thinking? Yeah. I don’t. Think discussion next month. Sure. That’s my recommendation. I just needed it to get in front of everybody.

01:25:33,730	So there was some time to let it, uh, marinate or fester. Yeah. Sounds good. How about we move on to the last one, or should we wait on this one, too? What’s this. Last one? I can just preview it, and you guys don’t have to put anything to it.

01:25:52,600	I’d like to actually put this letter of support in front of you before you were to do something with it, but this would be to establish a standardized scoring matrix that would be administered by the City Commission. Upon recommendation by the Vision Fund, on which I kind of put an extra step in this letter support.

01:26:07,370	But then also give the chamber, EDC and the city Commission a bit more distinction between projects coming in and asking for letters of support. I know that there’s been some, um, additional conversations about how the city commission is supposed to evaluate these letters of supports when they come in, and this would be a tool that they could use.

01:26:32,900	Um, to evaluate projects asking for the city’s letter of support. So those will be go ahead. I’m sorry. Well, yeah, this is this is an important thing on on how this works in the, in the in the banking world. I can speak to that a little bit.

01:26:52,730	So are we saying that are we just is the vision fund just generating the scoring matrix and giving guidelines to that. Or would they, would they come to us kind of similar to what just happened to the the project, what we did. Right. We said, hey, this probably isn’t what the what the Vision Fund, you know, should be used for.

01:27:11,870	But we do, you know, want the city. Where we’re telling the city to, you know, give the recommendation of, of of doing it with, uh, utilizing another fund, which would be the opportunity fund.

01:27:31,600	If I may, there is a possibility that we could lengthen this motion out in pending, uh, bend and the Opportunity Fund. And I guess, like, probably city legal making sure that that technically qualifies as community support. Um, just checking all those boxes to make sure that the Vision Fund would be able to administer that support. Um, but then this scoring matrix could also be used by just the Vision Fund.

01:27:47,000	But as of right now, um, that power is still, um, vested in the city commission for Bismarck. Right. So if a project would come to you, you don’t think it qualifies for the Vision Fund right now? The process would be you would just work directly getting it on the city commission.

01:28:04,470	Yeah. For example, if something were to score a seven or lower, usually will then facilitate just going right toward the letter of support. Okay. But the way this is proposed is then it would come to us first and we would give guidelines in approval to go to city commission, just like if we were to approve something

01:28:20,900	within the Vision Fund. I think right now, as it stands, it would not it would just go right to city commission. The reason I brought it to you all is, um, to have some city input on it before, um, and kind of generating it and then coming up to either you guys or city commission with the finalized

01:28:36,630	one. Yeah, I think it would make more sense. Just go to go. I mean, it’s going to add another step to come to us. I would say it just goes straight to to to the city Commission.

01:28:51,070	They it’s great that you would do another scoring matrix I think because that would give at least the city commissioners guidelines and guardrails on, um, you know, how it scores within that in that realm. So. So, so if I can speak to this and this is I mean, I think Noah was taking a stab at something because he was trying to address some concerns. Uh, that probably aren’t Vision Fund directly related.

01:29:11,900	But we’ve had the last two meetings, I believe maybe more than that in a row where there’s been a letter of support on the consent agenda for the city Commission that has been pulled for further discussion and vote, because there are individuals.

01:29:29,530	I mean, this is a letter of support, like there’s zero local dollars being involved, and it’s just supporting the business to go to the North Dakota Opportunity Fund to get matching dollars related to the flex, pace. And I don’t even know I we don’t have to do anything on this. I think maybe, um, yeah, he wanted to bring this forward. I said, go ahead. I actually.

01:29:51,900	Am probably more inclined to say that, you know, Noah and I and Brenda and Jason need to have a conversation about how those are further presented on the city commission.

01:30:08,530	But, um, certainly if this if this Vision Fund wants to be able to make a recommendation that to the City Commission that we think a letter of support is appropriate, then the scoring matrix probably has more value to the to the Vision Fund committee. Again, I don’t think we need to take or should take necessarily any action today on this. I’d like to have Mike Freilich in the room as well.

01:30:26,170	Um, but I think I know if I’m speaking on turn, I think you’re trying to solve a problem. Or maybe it isn’t a problem. You’re just trying to come up with a solution and advance of a problem, correct? Yes. Yeah. I agree with tabling this discussion for today.

01:30:44,800	I think we can revisit it. May, um, from there and see if this is a problem that needs to be fixed by Vision Fund, or if it’s a separate one. I’ll kind of leave that to your guys’s judgment on that piece. Uh, for if this is addressed separately. Yes.

01:31:01,900	We can have those discussions in between then and now as well. Great. Thank you, though, Noah, for all your. Work to. Get this stuff down on paper and keep moving things forward. Um, item number ten. Any other business? Okay. Meeting