##VIDEO ID:tk-08I0apF4##  IF WE HAVE A QUORUM SO I CALL THE MEETING TO ORDER AND THE FIRST ITEM ON THE AGENDA IS THE APPROVAL MINUTES FROM OUR MEETING ON JUNE 18TH. SO I WOULD ENTERTAIN A MOTION FOR THEIR APPROVAL TO MOVE TO SECOND MOTION MADE AND SECONDED ANY ADDITIONS OR CORRECTIONS IF NOT ALL FAVOR OF PROCEEDING REVERSING I. I PAUSED CURIOUS FIVE ZERO AND THE NEXT SLIDE AND THEN WE HAVE IS 2.1 AND I TOLD DIRECTOR HOLLY TALL AND HE WAS FIRST ON THE AGENDA I SAID NO WE FIRST HAVE TO CALL THE MEETING TO ORDER AND, THEN WE HAVE TO APPROVE THE MINUTES BUT NOW WE'RE HAPPY.  GET TO INTRODUCE THEM. YES, THANK YOU PRESIDENT ERICKSON AND COMMISSIONERS, I'D LIKE TO INTRODUCE ANDY DONAHUE IS THE STATE DIRECTOR OF THE MINNESOTA SPDC. HE'LL BE A PRESENTATION TODAY ON WHAT THE SPDC DOES HOW.  WE WILL BE HOPEFULLY ENTERING INTO A PARTNERSHIP WITH THEM TO ADDITIONAL SMALL BUSINESS SERVICES AND TECHNICAL ASSISTANCE HERE  IN WELL GOOD AFTERNOON EVERYONE AND I THANK YOU FOR HAVING ME THIS AFTERNOON AS. HOLLY MENTIONED MY NAME IS ANDY DONAHUE. I AM THE STATE DIRECTOR FOR THE MINNESOTA SMALL BUSINESS CENTER. WE ARE PART OF THE THE STATE OF MINNESOTA DEPARTMENT OF EMPLOYMENT ECONOMIC DEVELOPMENT AND WE RUN NINE REGIONAL CENTERS ACROSS THE STATE THAT HELP ENTREPRENEURS START AND GROW THEIR BUSINESS THROUGH A PARTNERSHIP NOT ONLY WITH THE STATE OF MINNESOTA BUT ALSO WITH SMALL BUSINESS ADMINISTRATION FROM THE US FEDERAL GOVERNMENT.  AS HOLLY MENTIONED, WE'RE WORKING ON A PILOT PROJECT RIGHT NOW WITH THE CITY OF BLOOMINGTON PORT AUTHORITY WITH HOLLY AND BARB. WANT TO GIVE YOU A LITTLE BIT OF AN OVERVIEW OF WHAT THE SPDC IS AND THEN A LITTLE BIT OF OUR SUCCESSES THAT WE'VE HAD OVER THE LAST FEW YEARS AND CURRENTLY OF YEAR TO DATE. THEN ALSO A LITTLE BIT OF A PREVIEW OF WHAT'S GOING ON RIGHT NOW WITH OUR PILOT PROJECT.  SO HOPEFULLY THIS IS GOING TO WORK. WE'LL SEE HOW THE DELAY IS MAYBE ADVANCEMENT IF YOU NEED TO ALL SO A LITTLE BIT ABOUT THE MINNESOTA SMALL BUSINESS DEVELOPMENT CENTER AS I MENTIONED, THIS IS A FEDERAL PROGRAM THAT IS IN PARTNERSHIP NOT ONLY WITH THE U.S. SMALL BUSINESS ADMINISTRATION BUT ALSO WITH THE STATE OF MINNESOTA. AND SO WE ARE ONE OF 63 NETWORKS NATIONWIDE HELP WORK WITH ENTREPRENEURS AT ANY STAGE THAT HELP START MANAGER THEIR BUSINESS. WE HAVE NINE REGIONAL CENTERS ACROSS THE STATE OF MINNESOTA. SO AS YOU SEE ON THE ATTACHED MAP THERE UP ON THE SCREEN THE OPPOSITE REGION ACROSS THE WHOLE STATE TO REALLY FOCUS IN ON ENTREPRENEURS AND HOW THEY CAN GET GOING OFF THE GROUND ESPECIALLY IN THIS POST-COVID WORLD AFTER THE PANDEMIC BUT THEN ALSO HELP THEM EXPAND THEIR BUSINESS, GROW THEIR BUSINESS TO WHERE THEY ARE TODAY. SO WE HELP BUSINESSES THAT ARE IN MAIN STREET DOWNTOWN SECTORS MANUFACTURERS, FOOD AND AGRICULTURE BASE CHILD CARE YOU NAME THE BUSINESS WITH THE OF A COUPLE BUSINESSES THAT ARE LIKE CANNABIS THAT ARE FEDERALLY ILLEGAL STILL FROM THAT ASPECT WE HELP ANY BUSINESS AT ANY STAGE OF THEIR LIFECYCLE SO WE WERE ONE IN MINNESOTA ITSELF WAS ONE OF THE FIRST PILOT PROJECTS THAT HAPPENED BACK IN 1978 BY ONE OF THE WHEN CONGRESS ENACTED THIS LAW THROUGH THE US SMALL BUSINESS ADMINISTRATION AND AS MENTIONED WE ARE HOSTED BY DBA THE STATE OF MINNESOTA SO FUN FACTS SO MOST OF THE TIME THE 63 NETWORKS THAT ARE NATIONWIDE THEY ARE HOSTED BY EDUCATIONAL INSTITUTIONS SO INSTITUTIONS OF HIGHER EDUCATION WERE ONE OF SEVEN NATIONWIDE THAT ARE GRANDFATHERED IN THAT ARE HOSTED BY STATE GOVERNMENT. SO USUALLY THE SBC'S NATIONWIDE WE HAVE OUR REGIONAL CENTERS ARE MOSTLY YOU KNOW, EDUCATION BASED THOUGH THE NETWORKS ITSELF NORMALLY ARE WITH THOSE INSTITUTIONS OF HIGHER ED I CAME FROM MY OLD CENTER WAS IN SUPERIOR WISCONSIN RIGHT ACROSS FROM DULUTH ON THE NORTHWEST PART OF THE STATE WE WERE PART OF THE UW SYSTEM. OTHERS ARE UNIVERSITY OF ILLINOIS, UNIVERSITY OF FLORIDA. SO SOMETHING WITH HIGHER EDUCATION COMPONENT WHERE LUCKILY WE HAVE THAT THE STATE OF MINNESOTA GOVERNMENT WHERE WE'RE ABLE TO BE HOSTED BY THEN WHICH OPENS UP A WHOLE NOTHER SECTOR OF PARTNERSHIPS AND COLLABORATIONS AND ALLOWS US TO LOOK AT PILOT PROJECTS SUCH AS WHAT WE'RE LOOKING AT WITH BLOOMINGTON TO ENHANCE EXPAND OUR SERVICES LOCALLY AND ALSO REGIONALLY.  SO I MENTIONED OUR NINE REGIONAL CENTERS SO WE HAVE 35 SATELLITE LOCATIONS THAT ARE PART OF THOSE AND THEN ALSO 142 DIFFERENT CONSULTANTS AND PERSONNEL STATEWIDE.  THE EXPERIENCE RANGES FROM THOSE THAT HAVE BEEN FORMER CEOS OF BUSINESSES,  PRESIDENTS, OPERATING OFFICERS TO GENERAL CONSULTANTS AND THEY ALL HAVE DIFFERENT SPECIALTIES MARKETING OPERATIONS H.R.  YOU NAME IT. WE HAVE PRETTY MUCH THAT CONSULTANTS STATEWIDE THAT CAN ASSIST ENTREPRENEURS AT ANY STAGE OF THEIR LIFECYCLE SO A LITTLE BIT ABOUT WHAT THE CDC HAS BEEN WE FALL UNDER THE OFFICE OF SMALL BUSINESS INNOVATION. THIS WAS STARTED ABOUT A YEAR AND A HALF AGO UNDER DID SO IT COMBINES FOUR DIFFERENT UNITS ITSELF SO THE SBC IT AS MENTIONED COMMUNITY PARTNERSHIPS WHICH IS THE GRANT MAKING OPERATION DEED ITSELF SO THAT WORKS WITH DIFFERENT PARTNERSHIP GRANTS, DIFFERENT DIRECT APPROPRIATIONS THAT ARE LED BY THE LEGISLATURE AND THEY ROLL OUT THROUGH THE COMMUNITY PARTNERSHIPS DIVISION THE SMALL BUSINESS ASSISTANCE OFFICE WHICH GOES TO YOU KNOW HAS A FULL MINE IN EMAIL WHERE PEOPLE CAN CALL IN ASKING QUESTIONS ABOUT LICENSING LLC IS PARTNERSHIPS AND SUCH AND THEN LAUNCH MINNESOTA WHICH I THINK MOST ARE PROBABLY WITH ABOUT THE INNOVATION HUB IN THE TECH SECTOR THAT IT WAS FOUNDED A FEW YEARS AGO.  SO AT ANY STAGE THAT WE'RE ABLE TO HELP HELP WITH FINANCING GROW AN EXISTING BUSINESS, LAUNCH A BUSINESS IDEAS ARE FEASIBLE. THE COOL THING ABOUT OUR SBC PROGRAM IS THERE'S THERE'S A MISCONCEPTION OUT THERE THAT WE ONLY HELP SMALL BUSINESSES THAT ARE LOOKING TO GET OFF THE GROUND ONCE WE YOU KNOW WORK WITH THEM GET THEM A LARGE THEIR THEIR THEIR OPERATING THAT WE USUALLY DON'T WORK WITH THEM AND THAT'S A MISCONCEPTION THAT'S NOT TRUE WE CAN WORK WITH BUSINESSES AT STAGE IN LIFE CYCLE THROUGH THEIR WHOLE ENTREPRENEURIAL JOURNEY SO WHAT I WAS CONSULTING IN AS A REGIONAL DIRECTOR MYSELF I WOULD HAVE CLIENTS THAT YOU KNOW OVER THE EIGHT YEARS HELPED THEM GROW THAT HELPED THEM GET TO THAT THAT THIRD STAGE OF BUSINESS GROWTH BECAUSE WE HAD THE OPERATIONS AND WE HAVE THE ABILITY TO BRING DIFFERENT PARTNERS IN ALSO THAT EXPERTIZE THAT CAN HELP THEM THROUGH ANY STAGE OF THEIR LIFECYCLE WE SAW THIS DIRECTLY WITH WHAT HAPPENED WITH THE PANDEMIC AND HOW ENTREPRENEURS NEEDED THAT CONSULTANT THEY NEEDED THAT COACHING TO GET THEM THROUGH SOME OF THOSE DIFFERENT AREAS. SO IT'S REALLY NICE TO SEE THAT WE HAVE ENTREPRENEURS AND CONSULTANTS THAT WORK HAND IN HAND WHETHER IT'S ONE YEAR ALL THE WAY THROUGH SOME DIFFERENT CONSULTANT RELATIONSHIPS THAT THEY HAVE A 20 YEAR PARTNERSHIP RIGHT NOW. SO WE HAVE THAT ABILITY WORK WITH ENTREPRENEURS AT ANY POINT OF THEIR LIFECYCLE WHICH HAS BEEN A IT'S A BENEFIT FOR US. SO WHAT WE DO THIS IS THE BREAD AND BUTTER AND THIS IS JUST NOT IT'S NOT ALL ENCOMPASSING OF EVERYTHING THAT SPEAKS TO A BUSINESS PLAN DEVELOPMENT, FINANCIAL PROJECTIONS, MARKETING TECHNOLOGY LENDING, PROCUREMENT MARKET RESEARCH, DISASTER RECOVERY WE'RE SEEING THAT RIGHT NOW WITH SOME OF THE FLOODING IN SOUTHERN MINNESOTA.  THE COOL AND NEAT THING ABOUT ALL OF THIS IS WE HAVE PEOPLE COME UP TO US TO SAY HOW MUCH DOES THIS COST? THIS IS NO COST FOR ANY ENTREPRENEUR. SO BECAUSE WE HAVE THE FEDERAL THROUGH THE SBA, WE HAVE THAT MATCHED TO THE STATE OF MINNESOTA IN THE LOCAL PARTNERSHIPS WE CAN OFFER ALL OF OUR CONSULTING SERVICES AT NO COST TO ANY ENTREPRENEUR NOW THERE MIGHT BE DIFFERENT TRAINING PROGRAMS THAT OF OUR REGIONAL CENTERS MIGHT OFFER THAT MIGHT HAVE A SMALL MONETARY COST TO BUT THE GOAL AND CRUX OF THE PROGRAM ON WHAT WE WORK WITH IS NO COST CONSULTING AND THIS IS NOT ONLY IN MINNESOTA IS NATIONWIDE ITSELF SO A BIT LOCALLY HERE BUT THEY ASKED TO SEE IN 2023 ALONE WE HAVE GROWN SO I TOOK OVER THIS ROLE A YEAR AND THREE MONTHS OR SO AGO FOR MY PREDECESSOR WHO WAS HERE FOR ABOUT 11 YEARS BEFORE THAT THE GENTLEMAN RAN THE SBC WAS HERE FOR ANOTHER TEN YEARS SO THERE'S LONGEVITY WE HAVE A CONSISTENT BASIS BUT WHAT'S HAPPENED NOW SINCE REALLY AFTER PANDEMIC IS THE SBC PROGRAM WAS PUT FRONT AND CENTER WITH A LOT OF DIFFERENT THINGS HAPPENING FROM THE SBA AND HOW ENTREPRENEURS NEEDED THAT FOR SUCCESS AND THAT REALLY HELPED THEM SAVE THEIR BUSINESS SO PROGRAM OVER THE LAST FEW YEARS HAS GROWN TREMENDOUSLY AND IT IS GROWING EVEN MORE THIS YEAR WHICH I'LL SHARE IN A FEW MOMENTS. SO 2023 ALONE WE HAD ABOUT 31,000 CONSULTING HOURS UP NEARLY 4400 CLIENTS STATEWIDE ABOUT $117 MILLION OF CAPITAL . SO WHAT THAT MEANS IS ARKANSAS HELPED ENTREPRENEURS ACCESS THROUGH LENDING GRANTS SELF EQUITY OTHER INVESTMENTS TO GET ABOUT $170 MILLION OF CAPITAL FOR THEIR BUSINESS ITSELF. ADDITIONALLY, HUNDRED 16 NEW CLIENTS OR NEW BUSINESSES DID START AND THEN FUN FACT IS WE HAVE A 95% CLIENT SATISFACTION SO.  PEOPLE COME BACK TO US, ENTREPRENEURS WILL COME BACK TO US BECAUSE WE WORK WITH THEM AND HAVE HELPED THEM THROUGH THEIR JOURNEY ITSELF. ONE OF THE THINGS THAT IS NOT LOST ON THE SLIDE THAT YOU MAY BE TO HERE SO ALL THE STATS THEY SHOWED THESE AREN'T JUST STATS WE WE THROW UP ON THE SCREEN JUST FOR FUN OR ANYTHING LIKE THAT.  THESE ARE STATS THAT ARE VERIFIED BY THE CLIENT. WE HAVE TO GET CLIENT FOR ANYTHING THAT WE REPORT INTO OUR OUR CUSTOMER RELATIONSHIP MANAGEMENT OR CRM TO MAKE SURE THAT IT IS VALIDATED NOT ONLY FROM WHAT OUR CONSULTANTS HAVE BEEN DOING TO WHAT THE ENTREPRENEUR SAYS YEP THAT SBC CONSULTANT WAS ABLE TO HELP ME WITH X-Y-Z AND SO THESE ARE ALL VALIDATED METRICS THAT YOU SEE.  SO WHEN I CAME ON BOARD ABOUT LITTLE OVER A YEAR AGO SO THERE'S A FEW KEY INITIATIVES ONE OF THEM WAS MAKING SURE THAT ALL MINNESOTA ENTREPRENEURS HAVE THE ABILITY AND ACCESS TO SBC RESOURCES. WHAT THIS MEANS IS CONSULTING BUSINESS PLANNING, FINANCIAL MODELING ANALYSIS, MARKET RESEARCH ANYTHING THAT AN ENTREPRENEUR IS GOING TO NEED IN ORDER TO MAKE SURE THAT THEY CAN BE SUCCESSFUL, WE WANT TO MAKE SURE WE'RE COMFORTABLE IN USE AND OBVIOUSLY THE EFFICIENT USE OF OUR RESOURCES THESE ARE ANYTHING FROM THE STATE AND FEDERAL. THESE ARE TAXPAYER RESOURCES. SO ALL OF US AS YOU KNOW, RESIDENTS OF MINNESOTA IN THE SURROUNDING REGION ARE, YOU KNOW, TAXPAYERS INTO THIS PROGRAM ITSELF. SO WE WANT TO MAKE SURE WE ARE BEING HELD ACCOUNTABLE AND USING OUR RESOURCES TO THE BEST OF OUR ABILITY ALONG WITH GROWING OUR RESOURCES. WE'RE REALLY DRIVEN ON COLLABORATION AND COMMUNICATION. I JOKE WITH THE REGIONAL TEAMS YOU KNOW CONSTANTLY AND I, I HEARD IT AGAIN TODAY IS ONE OF THE THINGS THAT WE BROUGHT INTO THE PICTURE IS PLAYING NICE THE SANDBOX IT MIGHT SOUND KIND OF CHEEKY A LITTLE BIT BUT WITH SO MANY DIFFERENT ENTITIES THAT ARE AVAILABLE FOR RESOURCES THERE WE WANT TO MAKE SURE THAT WE DOVE INTO THESE PARTNERSHIPS AND COLLABORATION.  PART OF THE REASON THAT WE'VE COME TO THE CITY OF BLOOMINGTON AND WE'RE WORKING WITH HOLLY AND BARB IS DEVELOPING THESE COLLABORATIONS YOU KNOW SO WE CAN PROVIDE THESE OPPORTUNITIES FOR ANY ENTREPRENEUR AT ANY STAGE OF THEIR LIFECYCLE. WE'RE BEING VERY DIVERSE OBVIOUSLY RECOGNIZING WE'RE IN A VERY DIVERSE ECONOMY, VERY DIVERSE CULTURE SO WE WANT TO MAKE SURE THAT NOT ONLY THE RESOURCES THAT WE PROVIDE ARE YOU KNOW, FILL THAT NEED BUT THEN ALSO WE HAVE THE TEAM THAT CAN MEET THOSE NEEDS AS WELL AND WE'RE ALWAYS THINKING ABOUT THE FOR THE FUTURE HOW DO WE BE INNOVATIVE? YOU KNOW IF ANYTHING THE LAST FOUR YEARS HAS TAUGHT US WE HAVE THE ABILITY TO BE HYBRID. WE CAN BE REMOTE, WE CAN LOOK AT SOME OF THOSE ITEMS BUT WE ALSO HAVE TO LOOK AT DIFFERENT IN HOW WE DELIVER TO AN ENTREPRENEUR ESPECIALLY IN TODAY'S ENVIRONMENT WHETHER IT'S BUSINESS PLANNING, WHETHER IT'S FINANCIAL RESOURCES AND SO ON.  IT'S A LITTLE BIT YOU KNOW, YEAR TO DATE WHERE WE'RE AT I MENTIONED A FEW MINUTES AGO THAT WE ARE GROWING ARE THRIVING THIS YEAR WE'RE ABOVE AND BEYOND WHERE I THOUGHT WE WOULD BE SO JUST AS OF THE OTHER DAY. SO WE HAVE OVER9,000 CONSULTING HOURS WITH 3600 CLIENTS. WE'RE PACE RIGHT NOW TO PROBABLY SET A RECORD, YOU KNOW, STATEWIDE OF HOW MANY WE HAVE ASSISTED ON A YEARLY BASIS. THESE ARE UNIQUE CLIENTS TO THE SBC OF OVER 5000 CLIENTS STATEWIDE BETWEEN ALL NINE OF OUR REGIONAL CENTERS RIGHT NOW WE'RE ALMOST AT ABOUT $110 MILLION OF CAPITAL. SO EVEN THOUGH THE ECONOMY HAS SOMEWHAT SLOWED DOWN, WE'RE FINDING WAYS ON HOW TO BUILD CAPITAL STACKS TO HELP ENTREPRENEURS GET GOING WITH THEIR BUSINESS EVEN RANGING FROM SMALLER TEN $15,000 PROJECT ALL THE WAY UP TO 25 TO $30 MILLION PROJECT. SO WE HAVE THE ABILITY STATEWIDE WITH OUR CLIENTS AND OUR CONSULTANTS TO LOOK AT THESE BIGGER PROJECTS ITSELF 160 NEW BUSINESSES SO FAR YEAR TO DATE BUT 128 OF THOSE HAVE BEEN IN UNDERSERVED COMMUNITIES.  SO LOOKING AT WOMEN BASED BUSINESSES OF VETERANS, THOSE THAT ARE THE LGBTQ PLUS COMMUNITY BIPOC OWNED BUSINESSES ARE SUCH SO WE'VE HAD A LOT OF SUCCESS. IT'S ONLY AUGUST WE KNOW THAT THE END THE YEAR IS USUALLY A LOT OF THE TIME WHERE A LOT OF OUR BUSINESS OWNERS ONCE BACK TO SCHOOL SEASONS YOU KNOW HAPPENS THEY'LL COME BACK OUT AND LOOK AT YOU KNOW, HOW DO THEY A BUSINESS FOR THE HOLIDAY SEASON INTO THE NEW YEAR SO A COUPLE OF THINGS JUST OTHER SUCCESSES THAT WE'VE HAD. WE ARE LOOKING AT SOME DIFFERENT AGREEMENTS WITH TRIBAL NATIONS AND OTHER ECONOMIC DEVELOPMENT ORGANIZATIONS REALLY THE NEED FOR CAPITAL AND ALSO BUSINESS AND ENTREPRENEURSHIP PLANNING NOT ONLY RURAL AREAS BUT ALSO THOSE TRIBAL REGIONS THAT ARE HERE IN MINNESOTA WE HAD ONE OF OUR THE REGIONAL SBA AWARD WINNING IN REGION FIVE WHICH WAS REALLY THE GREAT LAKES REGION HAPPENED TO BE FROM DULUTH IN OUR NORTHLAND SPDC LAST YEAR SO THEY WERE RECOGNIZED LAST YEAR FROM OUR REGIONAL ADMINISTRATOR WITH THE SBA AND JUST ANNOUNCED ON FRIDAY WAS WE HAVE THREE SPDC STAFF MEMBERS TWO IN DULUTH AND ONE ACTUALLY IN MOORHEAD. THEY ARE BEING RECOGNIZED NATIONALLY AS 40 UNDER 40 SO 40 INDIVIDUALS WERE NOMINATED AND APPROVED.  WE ACTUALLY HAVE THREE OF THOSE HERE IN THE STATE WHICH DOES NOT HAPPEN VERY I THINK WE THE ONLY STATE THAT HAD MORE THAN TWO YOU KNOW FROM THAT PERSPECTIVE OUR BRAINERD OFFICE IS LAUNCHING A CHILD CARE SUMMIT. WE KNOW CHILD CARE IS SOMETHING THAT'S ALWAYS ON THE TOP OF MIND OF ECONOMIC DEVELOPERS, CITIES, COMMUNITIES.  SO WE CONTINUE TO HAVE THESE CONVERSATIONS AND DIFFERENT PARTNERSHIPS AND MANY OF YOU MAY HAVE ALREADY HEARD IS WE DO HAVE A COMMUNITY ENTREPRENEURSHIP PROGRAM IS LAUNCHED THROUGH OUR TWIN CITIES METRO SBC AT SAINT THOMAS THAT IS IN NUMBER SIX AND REALLY LOOKING AT HELPING THOSE UNDERSERVED COMMUNITIES GET THEIR BUSINESSES LAUNCHED . OUR SPDC PARTNERSHIPS YOU KNOW STATE WIDE YOU KNOW I MENTIONED THE BEGINNING WE WERE STATE RUN WERE ONE OF SEVEN THAT ARE GRANDFATHERED IN OUR REGIONAL CENTERS ARE BASED IN HIGHER SO WE HAVE FIVE THAT ARE PART OF THE STATE SYSTEM. WE HAVE ONE THAT'S IN THE PRIVATE COLLEGE WITH THE UNIVERSITY OF SAINT THOMAS.  WE HAVE TWO FOUNDATIONS AND THEN WE ALSO HAVE ONE ECONOMIC DEVELOPMENT THAT RUNS IT SO VERY DIVERSE KIND OF YOU KNOW, LOOKING IT YOU KNOW MOST YOU KNOW STATES AND NETWORKS ITSELF THEY'RE ALL UNDER A KIND OF A SAME UMBRELLA WHETHER IT'S A UNIVERSITY SYSTEM, IT'S FOUNDATION SUCH WE'RE VERY DIVERSE IN THAT PERSPECTIVE AND GIVES US A WIDE VARIETY OF EXPERTIZE BUT ALSO THE ABILITY TO SERVE A LOT OF THOSE CLIENTS FROM A RURAL AREA AND ALSO THE METRO YOU KNOW TWIN CITIES AREA ITSELF. WE HAVE EXPANDED A LOT OF OUR WORK WITH SATELLITE CENTERS SO WE HAVE CHAMBERS OF COMMERCE, ECONOMIC DEVELOPMENT ORGANIZATIONS, FOUNDATION HAS LAUNCHED MINNESOTA PARTNERSHIPS. I'M JUST TO NAME A FEW AS MENTIONED WE HAVE ABOUT 35 DIFFERENT SATELLITE OFFICES BUT ALL OF THESE ORGANIZATIONS YOU KNOW THE GOAL OF IT IS TO PROVIDE ADDITIONAL TECHNICAL ASSISTANCE TO UNDERSERVED COMMUNITIES WITH THAT AND WE'RE LOOKING AT GROWING THAT HERE AS WE AND 2024 WE GET INTO 2025. SO THE CRUX OF THIS PRESENTATION, THE REASON WHY I'M HERE AND THAT I'VE BEEN WORKING WITH HOLLY AND BARB WE ARE LOOKING AT CREATING A MUTUAL PARTNERSHIP BETWEEN CITY OF BLOOMINGTON PORT AUTHORITY AND THEN ALSO THE MINNESOTA SMALL BUSINESS DEVELOPMENT CENTER.  SO WHAT THIS WILL LOOK LIKE IS THIS WILL BE THE FIRST REALLY CITY ISH AND SBC PARTNERSHIP MINNESOTA I MENTIONED THAT WE HAVE SATELLITE LOCATIONS YOU KNOW WITH FOUNDATIONS WITH CHAMBER OF COMMERCE'S WITH ECONOMIC DEVELOPMENT ORGANIZATIONS THIS BE THE FIRST OF ITS KIND IN MINNESOTA TO BE IN CRUX WITHIN THE CITY IN THE OF BLOOMINGTON ITSELF WHEN I WAS IN WISCONSIN WE HAD THERE WAS TWO SATELLITE CENTERS WERE TIED ONE WAS TIED TO A COUNTY ON THE ILLINOIS ILLINOIS WISCONSIN BORDER.  ONE WAS TIED TO THE CITY OF WAUKESHA RIGHT OUTSIDE OF MILWAUKEE. THOSE CENTERS ITSELF, EVEN THOUGH THEY WERE SOLID OFFICES, THEY WERE PROBABLY THE MOST REGIONAL SATELLITE OFFICES THERE WERE BECAUSE OF THE PARTNERSHIP THAT HAPPENED BETWEEN THE CITY COUNTY GOVERNMENT AND THE CDC AND GRANTED, YOU KNOW, SOMETHING NEW, SOMETHING EXCITING, YOU KNOW IT ABLE TO LED TO A LOT OF ECONOMIC DEVELOPMENT DOLLARS, A LOT OF INVESTMENTS IN THOSE COMMUNITIES BUT ALSO SERVE THOSE ENTREPRENEURS THAT WEREN'T GETTING THAT ASSISTANCE BEFORE SO WITH THIS THIS WILL BE AN EXPANSION OF OUR TWIN CITIES METRO EFFORT TO REACH ENTREPRENEURS OUR METRO TWIN CITIES LOCATION IS BASED ON THE UNIVERSITY OF SAINT THOMAS AND THEY COVER ALL SEVEN YOU KNOW MSP METRO AREAS ITSELF.  THIS WILL ALLOW US TO ENHANCE AND EXPAND THOSE EFFORTS KNOW WITHIN BLOOMINGTON IN THE SURROUNDING REGION BUT ALSO YOU KNOW WITH THAT IS IT'S NOT JUST, YOU KNOW THROWING MONEY AT IT AND HOPING THAT PEOPLE COME IN . WE HAVE METRICS THAT ARE ASSIGNED TO IT AND WE'VE BEEN DOING OUR RESEARCH, YOU KNOW, ABOUT HOW MANY CLIENTS ARE ALREADY USING THE SBC WITHIN THE CITY BLOOMINGTON ITSELF THAT'S ABOUT 100 AND 2025 PEOPLE. THIS WILL GIVE US A DEDICATED YOU HUB AROUND BLOOMINGTON ITSELF TO ASSIST THOSE ENTREPRENEURS. BUT ALSO EXPAND EFFORTS TO THOSE THAT MIGHT NOT BE FAMILIAR WITH THE SBC PROGRAM . SO WE'RE ALSO GOING TO PROVIDE ADDITIONAL RESOURCES FOR CAPITAL ACCESS MARKETING, EDUCATION TRAINING YOU KNOW THE WHOLE GAMUT OF WHAT OUR SBC CENTERS DO RIGHT NOW AND WE'RE GOING TO BRING THAT TO THE CITY OF BLOOMINGTON SO WE CAN EXPAND THOSE EFFORTS HERE IN GOAL IS TO GET IT LAUNCHED THIS FALL WE'VE BEEN BARB AND I HAVE BEEN WORKING SINCE ON THIS ALL COME IN TO THE EAU CLAIRE QUITE A FEW OF OUR PHONE CALLS BEEN MEETING PRETTY MUCH ON A MONTHLY BASIS TO REALLY GET THIS DEVELOPED AND AS SOON AS YOU KNOW WE HAVE YOUR APPROVAL, AS SOON AS WE HAVE OUR APPROVAL THROUGH DEED ITSELF WE'LL BE READY TO GO THIS FALL ITSELF.  SO I BELIEVE THAT IS IT. SO I AM OPEN TO QUESTIONS MY CONTACT INFORMATION IS ON THE SLIDELONG WITH MY EMAIL I'M HAPPY TO ANSWER ANY QUESTIONS THAT YOU HAVE OR PROVIDING CLARITY ON ANYTHING THAT I SPOKE ABOUT. WELL, THANK YOU ANDY FOR PRESENTATION.  WE'RE ALSO I SEE IN IN OUR MOTION YOU'RE ACTUALLY ACCEPTING A GRANT SO THAT'S EVEN BETTER YOU AND I SHOULD HAVE MENTIONED THAT YES SO WE ARE THE SDC FROM OUR FUNDING ARE GOING TO BE PROVIDING $60,000 OF OUR FUNDING TO THIS PROJECT ITSELF THAT'S GOING BE MATCHED OBVIOUSLY SO WE CAN GET THIS PROJECT OFF THE GROUND.  NOW THE WORK YOU DO IS SO CRITICALLY IMPORTANT AND IT'S THE WORLD IS GOING TO BE SO MUCH MORE COMPLEX JUST TO START A BUSINESS WITH ALL THE LITTLE THINGS AND I KNOW CYNTHIA WORKS WITH HIS STUFF ALL THE TIME AND WHEN I WAS AT SUPERVALU TREASURER OF THE COMPANY I PROBABLY SPENT 30 40% OF MY TIME WORKING WITH OUR INDEPENDENT RETAILERS AND ALL THE THINGS THAT YOU'RE TALKING ABOUT YOU KNOW AS BUSINESSES GO THROUGH SCALING CHANGES AND THINGS LIKE THAT IT'S A VERY DIFFICULT PERILOUS POINT FOR THEM TO GO FROM ONE LOCATION TO MULTIPLE LOCATIONS THESE THINGS.  SO IT'S GREAT TO HAVE YOU ON BOARD. SO FOR 30 QUESTIONS ROB HI. WELCOME  A COUPLE OF THINGS BECAUSE IT WENT PRETTY FAST TO START WITH THERE'S 117 MILLION IN FUNDING SPDC IS THAT ENTIRELY STATE OF MINNESOTA MONEY? NO THAT THAT IS FUNDING THAT CONSULTANTS WORK WITH LENDERS GRANTORS FOUNDATIONS, CDF GUYS CREDIT UNIONS TO HELP ENTREPRENEURS GET THAT FUNDING . OKAY SO THAT'S MONEY THAT'S BEING LENT TO THAT. THOSE ENTREPRENEURS WE'VE JUST ASSISTED IN THAT SOME OF THAT IS STATE MONEY 117 I WOULD ASSUME SOME OF IT IS I DON'T HAVE THE EXACT STATS ON THAT BUT OKAY A VERY SMALL PERCENTAGE OF WOULD BE AND THEN JUST GRAPH DOWN THE BOTTOM OF FIRST PAGE OF THAT HANDOUT WE GOT IN THE AGENDA NOTES YOU'RE ONE YEAR TO YOUR THREE SO THIS WOULD BE YOUR ONE WOULD BE WHAT TWO 2523 BUT IT WOULD BE IT WOULD BE A PRORATED YEAR KNOW WE ARE HOPING TO GET THIS YOU KNOW, GOING YOU KNOW, EARLIER THIS YEAR BUT IT WOULD BE A LET'S JUST SAY IT'S 2025 THAT WOULD BE AS WE ENTER OUT THE PILOT STAGE. OKAY.  I WAS INTERESTED IN SEE YOU KNOW WE'RE GOING TO PARTICIPATE IN EVENTS WITH CITY STAFF IT SOUNDS LIKE IT IS GOING ON. AND THEN THE LAST QUESTION I HAVE IS JUST WHAT ARE YOUR HOW LONG YOU'VE BEEN ROLLING OH HOW LONG HAS THIS BEEN IN EXISTENCE.  THE CBC PROGRAM YEAH SO IT IS WE STARTED IN 1978 IN MINNESOTA.  OKAY. ONE OF THE FIRST PILOT PROGRAMS SO AND YOU SAID HOW MANY NEW BUSINESSES HAVE BEEN HELPED OVER THE THIS I DON'T KNOW WHAT TIMEFRAME THERE WAS IN THE LAST FIVE YEARS OR LET'S JUST SAY THE LAST YEAR WAS ABOUT 216 NEW BUSINESSES. OKAY FOR A FIVE YEAR PERIOD YOU'RE LOOKING IN CLOSING ABOUT A THOUSAND 1100 OH THAT'S GREAT. OKAY. SO THE QUESTION IS THEN WHAT WHAT IS THE GOAL PARAMETER FOR THE PERMANENT CITIES IF 1100 IS IS IF 50% OF THEM AROUND AFTER FIVE YEARS IS THAT IS THAT THE EXCEPT THAT'S I MEAN THEY'RE NOT ALL GOING TO MAKE IT OBVIOUSLY IT'S IT'S CAPITALISM YOU KNOW SOME MAKE IT SOME DON'T SO I GUESS QUESTION WOULD BE JUST WHAT'S YOUR SUCCESS RATIO GOAL LONG TERM OUR LONG TERM GOAL WE ACTUALLY WE HAVE ABOUT A 75 TO 80% SUCCESSFUL RATE OF RETAINING THOSE BUSINESSES . THEY START TO THAT FIVE YEAR PERIOD SO AND WE HAVE CONSULTANTS THAT ACTUALLY IF WE HAVE A BUSINESS THAT GETS IN TROUBLE WE HAVE A TURNAROUND TEAM OF EXPERIENCED CONSULTANTS THAT HAVE BEEN IN THE INDUSTRY FOR 25 TO 30 YEARS THEY WE WILL DEPLOY IF A BUSINESS CONTACTS US TO SAY HEY WE'RE IN TROUBLE YOU KNOW WE NEED THAT ASSISTANCE SO WE HAVE THAT EXPERTIZE WITHIN THEIR NETWORK EVEN THEY NOT BE HERE DIRECTLY IN THE MINNEAPOLIS TWIN CITIES AREA BUT WE COULD GET SOMEBODY FROM OR DULUTH OR SOMEBODY THAT HAS THAT EXPERTIZE.  WE NEVER WANT TO SEE A BUSINESS FAIL BUT OBVIOUSLY WE KNOW IT DOES HAPPEN AND QUESTIONS COMMENTS WELL THANK YOU VERY MUCH. I GUESS WE HAVE AN ACTION ITEM ON THIS.  THERE'S A MOTION AND IT'S ON PAGE 14 AND THE ACTUAL MOTION IS ON PAGE 18. SO I WOULD ENTERTAIN THAT MOTION. MR. PRESIDENT, I MOVE THAT ADOPT A RESOLUTION AS SHOWN ON PAGE 18 IN THE AGENDA MOTION MANAGER WE HAVE A SECOND SECONDED BY MR. KELLER. ANY FURTHER DISCUSSION AT ALL IN FAVOR POLITICAL BY SAYING I I POST MOTION CARRY SIX ZERO. THANK YOU VERY MUCH THANK YOU FOR YOUR TIME TO HAVING STATUS REPORTS AND AS THIS ROLLS OUT ABSOLUTELY WELL FOR WE'RE GLAD THAT BLOOMINGTON IS YOUR GUINEA PIG FOR CITIES SO THAT'S GREAT LOVE TO HAVE IT HERE SO THANK YOU THANK YOU OKAY SO NEXT ITEM THEN WE HAVE A SOUTH TOWN REDEVELOPMENT UPDATE MIKE IS GOING TO COME UP.  THANK YOU PRESIDENT ERICKSON SO I'M HERE TODAY TO TALK SOUTH TOWN REDEVELOPMENT AND PRESENTATION .  I COULD DO THE SLIDES IF IT'S SOMETIMES YOU'VE GOT A NICE SMILE MIKE ANYWAY THANKS YOU ACTED OUT FOR US YOU COULD YOU COULD SING FOR US. YEAH.  IT'S BEEN A FEW YEARS. THIS IS REALLY AT THE POINT WHEN THE PRESENTER BRINGS A DAD JOKE. OH I HAD TO PUT THE PRESSURE ON AN AREA FOR TIME SO TOWN  AS YOU REMEMBER TO GIVE YOU A LITTLE BACKGROUND I'LL KIND OF BOOKEND DISCUSSION TODAY SO I'LL GIVE YOU A LITTLE BIT OF A RECAP WHERE WE WERE AND THEN AT THE END WE'LL OPEN UP FOR A LITTLE BIT OF DISCUSSION ABOUT TAX INCREMENT FINANCING AND THERE IS NO FORMAL ACTION ITEM TODAY.  WE'RE JUST KIND OF PREFACING WHAT MIGHT HAPPEN IN THE FUTURE AND GET SOME INPUT BEFORE WE TAKE FORMAL STEPS IN THE FUTURE.  SO AS YOU REMEMBER ABOUT ALMOST A YEAR AGO OCTOBER OF LAST YEAR WE PASSED A RESOLUTION THAT ACKNOWLEDGED BLIGHTED BUILDINGS THAT WERE AT SOUTHTOWN THE FORMER TOYS R US IN HER BURGERS BUILDING AND KIND OF MEMORIALIZE SO WE COULD POTENTIALLY ADOPT A TOUGH DISTRICT IN THE FUTURE.  SO NOW THOSE BUILDINGS HAVE BEEN DEMOLISHED.  WE'RE LOOKING AT WE HAVE A PLANNING APPLICATION RIGHT NOW WITH KRAUS SANDERSON FOR THE REDEVELOPMENT OF THAT. WE'LL GIVE YOU THE BROADER OVERVIEW OF THAT FIGURE PICTURE THE PLANNING APPLICATION THAT'S CURRENTLY IN THAT WILL GO TO COUNCIL PRETTY SOON HERE FOCUSES ON PHASE ONE AND HAS A PRE-DEVELOPMENT FOR PHASE ONE AND PHASE TWO. BUT KRAUS ANDERSON WILL PROVIDE KIND OF THE BROADER VISION WHICH I'M NOT SURE HOW MANY NUMBERED THERE ARE BUT THERE'S MORE TO IT THAN THAT.  SO LIKE I SAID AT THE ANNUAL KIND OF TALK ABOUT PROS AND CONS DOING A TAX INCREMENT FINANCING DISTRICT SOONER RATHER THAN WAIT LATER AND THERE'S SOME RISKS OF WAITING. SO WE'LL KIND OF GO INTO THOSE DETAILS BUT I WILL TURN IT OVER. I HAVE A SLIGHT YES BUT JUST SORT OF THE IMPORTANT PART OF THE THAT RESOLUTION LAST YEAR IN OCTOBER THAT WE HAVE A TICKING CLOCK WE HAVE THREE YEARS TO ESTABLISH A TEST DISTRICT OTHERWISE THOSE BUILDINGS WERE DEMOLISHED AND WE WON'T BE ABLE TO KIND OF MEET STATE STATUTE TO ESTABLISH THAT. SO THAT'S KIND OF OUR ISSUE RIGHT NOW. AND WITH THAT I'LL TURN OVER BOB CUNNINGHAM WITH KRAUS ANDERSON CAN GIVE YOU THE BROAD PRETTY PICTURES AND BIG DEVELOPMENT.  THANK YOU MIKE. WELL WELCOME. AND YOU KNOW WHAT JUST A LITTLE BIT OF HISTORY HERE. BILL YEAGER WHO WAS PRESIDENT ACROSS THE ENTIRE CONSTRUCTION COMPANY WAS AN ORIGINAL MEMBER OF THE PORT AUTHORITY AND IS ON THE BOARD OF 34 I DON'T KNOW 20 SOME YEARS LONG TIME AND WAS VERY KEY IN ALL OF OUR DELIBERATIONS ABOUT THEM ALL OF AMERICA AND OTHER THINGS. SO HE BROUGHT A REAL ELEMENT SO THE APPRECIATE HIS SERVICE THE CITY OF BLOOMINGTON HE'S PASSED AWAY A NUMBER OF YEARS AGO BUT IN ANY RATE WELCOME TO YOU. AND BILL'S SON JUST RETIRED FROM CROW SANDERSON.  I'M SORRY. BILL'S SON JUST RETIRED FROM CROSS, RIGHT? YES, THERE'S MIKE SAID I'M BOB CUNNINGHAM. I'M SENIOR PRESIDENT OF THE DEVELOPMENT GROUP AT CROSS ANDERSON GOT A BIT OF A SLIDE SHOW SOME PRETTY PICTURES IS MIKE INDICATED I THINK I KNOW HOW TO UTILIZE THIS I HOPE I DO BY WAY OF INTRODUCTION SAUL TOWN'S BEEN A FIXTURE IN THE RETAIL ENVIRONMENT BLOOMINGTON FOR THE LAST 60 YEARS AND THERE WE GO. I JUST WANT TO DO A LITTLE BIT OF A HISTORY BECAUSE RETAIL'S EVOLUTIONARY AND THIS IS NEXT COUPLE OF SLIDES IS INTENDED TO SHOW JUST A LITTLE BIT OF THE EVOLUTION OF OF SOUTHTOWN THIS WAS OPENING DAY IT GENERATED A FULL PARKING LOT AND A LOT PEOPLE AND IT WAS A VERY EXCITING TIME IN BLOOMINGTON IN 1963 GO THIS IS KIND OF THE 1966 LOOK THIS WAS WHEN MONTGOMERY WORD'S THIS WAS BIGGEST MONTGOMERY WARD STORE IN THE COUNTRY AT THAT TIME BRAND NEW MANTHEY AND A RED OLD GROCERY STORE IN 1966. THIS SHOWS THE 1973 EVOLUTION OF OF T CENTER INCLUDING INTRODUCTION OF SOME INTERIOR CORRIDORS WHICH WAS KIND OF A NEW THING THEN THAT DIDN'T WORK NOW IN 1996 WE'VE HAD IT OOPS PRESSED IT ONE TOO MANY TIMES IN 1996 YOU SEE THE SOME NEW DEVELOPMENT WE'VE LOST IN THAT TIME THE RED OWL WE LOST TWO GAS STATIONS THAT WERE ON THE SITE WE LOST THE MAN THEATER AND INTRODUCED THE NOTION OF THE MID AND BIG BOX RETAILERS YOU SEE WHICH IS STILL THERE IN THE UPPER EDGE AND MEDIA PLAY HAS SINCE BEEN BUILT BED BATH AND BEYOND AND NOW SLUMBERLAND ON THE SOUTHERN END IMPORTANTLY THE MORGAN AVENUE ACCESS POINT WAS ESTABLISHED BETWEEN 1970S AND 1990S.  THE CHANGE HAS BEEN INCREMENTAL UNTIL NOW. I THINK AS MIKE JUST SAID A MOMENT AGO WE JUST GOT THROUGH MOST OF THE DEMOLITION ITSELF TOWN AND I'M GOING TO JUST KIND OF SHOW THIS IS THE AREA THAT HAS BEEN AND IS BEING DEMOLISHED RIGHT NOW AND INCLUDES THE TOYS R US STORE. YES, SIR. I'M SORRY I INTERRUPT YOU JUST FOR HELP ME WITH JUST AN OVERVIEW WHAT'S THE TOTAL ACREAGE 30 THING BECAUSE IT GIVES ME A FEEL FOR IT BUT NOT INCLUDING THE MITSUBISHI AUTO DEALERSHIP THAT'S ON THE OTHER SIDE OF KNOX AND NOT INCLUDING LUCKY 13 FROM PENN AVENUE TO MAX FROM 94 TO AMERICAN IS 36 ACRES AND THEN THOSE TWO SITES ARE A LITTLE OVER JUST SHY OF FOUR ACRES COMBINED.  SO JUST SHY OF 40 ACRES ALL TOLD THE LUCKY 13 SITE WHEN WE INCLUDE THAT IN THE MITSUBISHI DEALERSHIPS SITE IS APPROXIMATELY ANOTHER FOUR ACRES. SO THAT SHOWS THE AREA THAT'S DEMOLISHED.  THIS IS THE FIRST TIME SINCE SOUTHTOWN HAS BEEN A RETAIL SHOPPING THAT THE SOUTHERN EDGE OF THE RETAIL IS NOT GOING HAVE A BUILDING THAT BISECTS IT AND AS I SAID CHANGE HAS BEEN INCREMENTAL UNTIL NOW WE STARTED DEMOLITION AFTER WE LAST APPEARED BEFORE YOU IN OCTOBER AS MIKE SAID THIS SHOWS THE DEMOLITION OF THE TOYS R US MONTGOMERY WARDS WAS ABOUT TO FALL SHORTLY THEREAFTER AND THIS IS IT LOOKS LIKE TODAY THE SITE HAS BEEN CLEARED. WE'VE GOT A SMALL AMOUNT JUST 15,000 SQUARE FEET OR SO OF DEMOLITION YET TO GO TO MAKE IT ALL THE WAY BACK FROM WHERE IT WAS THE AMF BOWLING ALLEY BUILDING THIS.  AGAIN, WE'RE GOING TO COME BACK TO EXISTING CONDITIONS JUST TO PROVIDE A BIT OF A A PLACEHOLDER TO SHOW YOU WHAT IS GOING TO COME NEXT. SO EXISTING CONDITIONS, DEMOLITION AND THIS IS INDICATIVE OF THE FIRST PHASE OF DEVELOPMENT THAT MIKE MENTIONED A MOMENT AGO IN THE IT DOESN'T SHOW VERY WELL I WISH I WOULD HAVE HIGHLIGHTED THIS THE AREA IN RED WHICH IS APPROXIMATELY THE EASTERN ONE THIRD OF SOUTH TOWN IS THE AREA WE'RE PLANNING ON COMMENCING REDEVELOPMENT. THAT'S OUR FIRST PHASE OF REDEVELOP.  IT IS GOING TO INCLUDE REDEVELOPING THE AREA THAT WAS PARTIALLY THE HERBERGER STORE AND WE ARE GOING TO BE AGAIN EXISTING CONDITIONS DEMOLITION . WE ARE GOING TO BE INTRODUCING A LOT OF LANDSCAPE THING PEDESTRIAN ENVIRONMENT, STORMWATER UTILITY THESE AND THIS IS INTENDED TO BE A BIT OF A TONGUE IN CHEEK SHOWING OUR GREEN SPACE THAT WE PRESENTLY HAVE HIGHLIGHTED ITSELF AND THAT IS ABOUT IT THERE'S SOME TREES AROUND THE PERIMETER AND THIS IS TO BE THE LANDSCAPING THAT WILL BE JUST IN THE THE REDEVELOPED PARKING LOT AND DICK'S HOUSE OF SPORTS WHICH IS IN THE UPPER LEFT HAND CORNER OF THE PROJECT THIS IS INTRODUCING THE PEDESTRIAN ENVIRONMENT,  THE LANDSCAPING, THE UTILITIES, STORMWATER AND SO ON.  LOT TWO IS GOING TO PLANT IT. WE'RE PLANNING TO BE A OFFICE BUILDING AND WE'LL GET TO THAT IN A LITTLE BIT AND THEN A LOT FOR WHICH IS IN THE LOWER RIGHT HAND CORNER THE EXISTING BOWLING ALLEY IS INTENDED TO BE A MIXED USE PROJECT.  WE'LL GET TO THAT IN A LITTLE BIT AS WELL.  AGAIN THAT JUST POPPED UP THE EXISTING AREA .  THIS IS OUR FIRST PHASE OF OUR REDEVELOPMENT WHICH IS A TWO STORY 120,000 SQUARE FOOT DICK'S HOUSE SPORT IT WILL BE MOVING OUT OF THE LOCATION IN RICHFIELD ACROSS TO PAY FOR 94 IT'LL BE GETTING A LITTLE BIT BIGGER AGAIN TWO STORIES WITH AN 18,000 SQUARE FOOT OUTDOOR SPORTS COURT YOU CAN SEE IN BETTER IN THE LEFT HAND PHOTOGRAPH FROM THE OUTSIDE AND THE RIGHT HAND PHOTOGRAPH FROM THE INSIDE ONE THING THAT IS JUMPED THE GUN THIS OUR OUR PLANNED REDEVELOPMENT OF THE MITSUBISHI SITE WHICH IS IN THE UPPER LEFT HAND CORNER OF THE SLIDE AND THE AMPS SITE WHICH IS RIGHT IN THE CENTER UPPER ELEMENT OF THE SLIDE YOU MIGHT SEE THAT WE'RE PLANNING ON CONTINUING THE USE THE MIDDLE PART OF THE PARKING AREA AS A PARKING AREA BECAUSE OF THE POWER LINE THAT BISECTS THE SITE.  WE PUT THE POWER LINE FALL RADIUS IN THERE JUST SO THAT WE KNOW THAT'S A NO BUILD ZONE AND SO WE JUST HAVE TO STAY OUT OF THAT AND MAKING THE BEST OF THE BAD SITUATION OF HAVING A POWER LINE IN THE MIDDLE.  SO WITH THIS PROJECT WE BE PROPOSING TO HAVE GRADE LEVEL RESIDENTIAL ALONG KNOX AVENUE WE'D HAVE GRADE LEVEL RESIDENTIAL ALONG AVENUE AMERICAN BOULEVARD PARDON ME WE WOULD HAVE GRADE LEVEL RETAIL ALONG THE RETAIL ELEVATIONS THAT ARE ON THE SOUTH SIDE OF TOWN AND WE WOULD BE LOOKING TO FEATURE RESTAURANTS ADJACENT TO THE GREEN SPACE WHILE WE'RE HERE I JUST WANT TO TAKE A MOMENT TO TALK ABOUT HOW DIFFICULT IT IS TO REDEVELOP THE PARK A CENTER SHOPPING CENTER THAT'S BEEN IN PLACE FOR 60 YEARS. WE HAVE LEASES THAT HAVE BEEN MADE OVER THE YEARS THAT HAVE EXTENSION OPTIONS RENEWALS.  THEY HAVE APPROVAL RATES FOR THIS AND THEY HAVE PARKING AREAS OF CONTROL. SO WE'RE SEIZING THIS OPPORTUNITY TO REDEVELOP THIS 13 ACRES THAT'S THE EASTERN SIDE SOUTH TOWN BECAUSE WE FINALLY HAVE A CLEAR PATH TO REDEVELOP AND WE THINK THAT THIS REDEVELOPMENT THIS IS KNOX AVENUE LOOKING NORTH WITH THE MIXED USE RESIDENTIAL ON THE LEFT ON THE WEST SIDE AND THE APARTMENT BUILDING ON THE RIGHT.  THIS IS KIND OF CONSISTENT WITH WHAT WE AND WHAT WE INTERPRET TO BE CONSISTENT WITH THE PAN AMERICAN PLAN,  THE URBANIZATION, THE INTRODUCTION OF ADDITIONAL RESIDENTIAL SPACE AND THE BEAUTIFICATION OF THE STREETSCAPE THIS IS JUST SOME IMAGES SOME ASPIRATIONAL IMAGES OF MIXED USE RETAIL ON GRADE RESIDENTIAL ABOVE.  THESE ARE ARTIFICIAL INTELLIGENCE GENERATED OR EXCUSE ME RENDERINGS THAT THESE DON'T EXIST ANYWHERE IN THE WORLD THIS WAS JUST GENERATED BY A COMPUTER AND JUST WANTED TO GIVE AN IDEA TO WHAT OUR WHAT OUR ASPIRATIONS ARE FOR THE PROJECT ALONG KNOX AVENUE ANOTHER VIEW THIS ONCE HAPPENS TO BE SEVEN STORIES WHICH WOULD BE CONSISTENT WITH WHAT WE'D BE LOOKING TO DO. THIS ONE'S A LITTLE SHORTER AT FOUR STORIES. NOW LET'S TURN OUR ATTENTION IF WE MAY TO THE NORTHEASTERN CORNER OF THE LUCKY 13 IS UNDERNEATH THE BUILDING TO THE RIGHT AND THE BUILDING TO THE LEFT IS BASICALLY PART OF THE PARKING LOT OF THE HER WORKERS . WE'RE ANTICIPATING THAT THAT BUILDING IS TO BE A FUTURE MEDICAL OFFICE BUILDING. WE'RE ANTICIPATING THAT THESE BUILDINGS WOULD BE APPROXIMATELY 110 TO 150000 SQUARE FEET. THAT WOULD BE ONE AND THEN PHASE TWO WOULD BE ANOTHER MEDICAL OFFICE BUILDING WHEN LUCKY 13 LEASE RUNS OUT IN THE VERY LOWER LEFT HAND CORNER OF THE SLIDE YOU'LL SEE GRAY ELEMENT THAT'S A PARKING STRUCTURE THAT WE THINK WOULD NEED TO BE INCLUDED TO SUSTAIN THAT MUCH THE DEVELOPMENT OF MEDICAL OFFICE THIS IS ACTUALLY TRIA ORTHOPEDICS BUILDING IN WOODBURY THAT CHRIS ANDERSON BUILT A FEW YEARS AGO ANOTHER ASPIRATIONAL LOOK AT WHAT THAT'S THAT'S I-94 IN WOODBURY AND THE TREE OF BUILDING THIS IS KIND OF WHAT WE'D BE LOOKING TO ACCOMPLISH ANOTHER AIR GENERATED MEDICAL OFFICE BUILDING AND ANOTHER ASPIRATIONAL BUILDING LIKE TO FINISH BY SAYING OOPS, PARDON ME, JUMP THE GUN.  WE'D LIKE TO HIGHLIGHT THAT THROUGH THE IMPLEMENTATION OF THE VISION THAT WE'VE KIND OF PRESENTED HERE THIS EVENING THAT SOUTH TOWN CAN CONTRIBUTE TO THE ULTIMATE OF THE PAN AMERICAN DISTRICT AND THAT IS TO CREATE A VISION A VISUALLY AND FUNCTIONALLY ATTRACTIVE ENVIRONMENT.  AND WITH THAT I'LL TAKE ANY QUESTIONS THAT ANYBODY MIGHT HAVE.  WELL, THANK YOU, BOB.  IT'S A PROPERTY THAT WE'RE ALL VERY FAMILIAR WITH. I KNOW WE DID HAVE KIND OF A WALKING TOUR WITH THE PORT AUTHORITY AND LOOKED AT SOME THE RESIDENTIAL CONSTRUCTION THAT'S GONE ON OVER THERE.  AND SO IT'S IT'S STRUCK ME DOING THAT THAT WE YOU KNOW, WE NEED TO MAKE THAT VERY MUCH WALKABILITY LOOKING AT IT AND IT CAN USE SOME HELP AND IN DOING THAT. BUT THE THING I JUST WOULD ENCOURAGE YOU TO DO IS TO DREAM BIG AT THIS POINT FOR MY EXPERIENCE BOTH UNIVERSITY OF MINNESOTA AND MINNESOTA STATE COLLEGE UNIVERSITY RICHARD UNIVERSITY, MINNESOTA I WAS SENIOR V.P. AND WE PUT IN CAMPUS MASTER PLANNING WHICH WAS REALLY BECAUSE IT MADE PEOPLE THINK LONGER TERM AND THEN IT MINSKY DOES THE SAME THING WHEN WE WENT THROUGH THE PROCESS LOOKING AT CAMPUSES AND SAYING YOU KNOW WHAT ARE YOU DOING? HOW DO YOU ETC. ETC. SO YOU'VE GOT AN OPPORTUNITY NOW WITH AS MUCH OF A BLANK CANVAS AS YOU'RE EVER GOING TO HAVE.  I UNDERSTAND YOU STILL HAVE RESEARCH IN THIS PART OF THE PROPERTY BUT AGAIN I JUST WOULD ENCOURAGE YOU TO THINK AND GET INVOLVED AND YOU KNOW, I'M YOU KNOW AND I'M THINKING WHEN BLOOMINGTON CENTRAL STATION STARTED LOOKING THEY REALLY DETOURED THE COUNTRY LOOKING AT THE THINGS REFLECTIONS CAME OUT OF THAT AND OF COURSE THEN THEY RAN INTO PROBLEMS WHERE THEY HAD A RECESSION AND IT WAS KIND OF HARD TO SOMETIMES CARRY OUT THE VISION BUT YOU LOOK AT WHAT HAS BECOME OF THAT AREA OVER A PERIOD OF TIME AND THINK IT'S PRETTY EXCITING. SO I JUST WANT TO ENCOURAGE YOU SO AUTHORITY COMMENTS QUESTIONS AND I GUESS THE OTHER THING WE GET INTO IS YOU TALK ABOUT INFRASTRUCTURE RESEARCH, SEWERS, WATER, SEWER AND THINGS AND I SEE JULIE LONG I MEAN THOSE THINGS ARE EXPENSIV DIFFICULT TO DO AND OBVIOUSLY YOU'VE GOT ALL THE FOR 94 AND 35 CONSTRUCTION GOING ON WHICH MAKES IT KIND OF DIFFICULT AND A LOT OF WASTE. SO WELL WE WILL HAVE A BIG CHANGE. ONE FOR 94 DOES GET COMPLETED THE ACCESS TO PENN AVENUE FROM I-35 SOUTHBOUND IN THE I-35 NORTHBOUND WILL BE ELIMINATED SO THERE WILL STILL BE ACCESS TO PENN AVENUE FROM I-44 IN BOTH DIRECTIONS. BUT YOU'RE ON I-35, YOU'RE GOING TO HAVE TO EXIT 82ND STREET TO GET TO SOUTH TOWN INTO THE FUTURE. YEAH. AND MR. PRESIDENT, ONE MORE COMMENT IF I MAY.  YOUR COMMENT ABOUT THINKING BIG. WE ARE THINKING BIG. WE THINK WE ARE TRYING TO THINK THROUGH ALL OF THE ELEMENTS AND OPTIONS WE CAN ADDRESS HERE.  WE HAD A CONSULTANT OUT AT THE SITE. THIS WAS TWO SUMMERS AGO ALREADY AND HIS COMMENT WAS ONLY MISTAKE YOU CAN MAKE IS NOT THINKING BIG ENOUGH.  WELL IT'S HARD TO ANTICIPATE AND THEN YOU'RE TALKING ABOUT PARKING AND OF COURSE ONE OF THE THINGS THAT WE HAVE IN LOOKING AT ANY NEW CONSTRUCTION IS TO FIGURE OUT WHAT THAT PUZZLE IS GOING TO BE IN THE FUTURE AND DESIGNING SO THAT IF YOU BUILD PARKING THAT YOU DON'T NEED AT SOME POINT IN TIME YOU CAN CONVERT IT OR RAMPS OR ANYTHING ELSE LIKE THAT AND STUFF.  SO WELL QUESTIONS, COMMENTS I DON'T MEAN DO WE HAVE ANY CITY STAFF HERE I MEAN SOMEBODY'S YOU GOT A COMMENT RIGHT? I DIDN'T WANT TO BE A TOURIST AGAIN.  THEY WANT TO BE THE ONLY AGAIN IN YOUR EYES FOR FIRST I'M A REALIST. I'M A BRICKS MORTAR GUY. I'M A REAL ESTATE GUY HERE. OKAY. SO AND IF ANYBODY'S EVER READ STINGRAY AFTERNOONS THEY KNOW BIG TOWN HAS BEEN IN THE HISTORY OF BLOOMINGTON. IT'S JUST REFERENCED THERE QUITE A BIT AND IT'S EXCITING TO SEE IT. CAR HAS BEEN A TERRIFIC PROPERTY OWNER THROUGHOUT THE CITY VALLEY WEST OFFICE BUILDINGS NORTHWEST OF MY NECK OF THE WOODS. SO YOU A LITTLE BIT OF MY QUESTION WHICH WAS GOOD ON FACTORING IN THE REDO A 494 WHICH IS FOUR OR FIVE YEARS WORTH I MEAN THAT'S THAT'S YOU KNOW THAT'S GREAT LONG TERM IS GOING TO BE GOOD IT'S NOT GOING TO BE HELPFUL IN THE SENSE OF IMMEDIATE DEVELOPMENT . SO I WAS I JUST WANTED TO FIND OUT I PRESUME THAT'S FACTORED IN SOMEHOW IN YOUR TIME YOU SAID A THREE YEAR DID YOU SAY THREE YEAR TIMING PLAN THAT THIS IS SOMEWHAT DEPENDENT UPON GETTING ENOUGH SORT OF CAPACITY TO DEVELOP RIGHT NOW WE'RE SHORT OF THAT.  THIS IS ALSO DEPENDENT UPON THE FINANCIAL MARKETS THAT ARE A LITTLE DIFFICULT OR MULTI-FAMILY HOUSING RIGHT NOW. BUT WE DO THINK IT'S INCUMBENT UPON US ESPECIALLY SINCE WE HAVE THE 13 ACRES THAT'S UNENCUMBERED BY OTHER LEASES AND OTHER RETAIL DIFFICULTIES TO START PLANNING AND GET THROUGH THE PLANNING PROCESS AS MUCH AS WE CAN WITH AS MUCH AS WE KNOW RIGHT.  WHICH IS WHY WE'RE APPEARING BEFORE YOU THIS EVENING. OKAY AND THEN I MET THE SCHEMATIC ARTIST SHOW DICK'S THAT IS YOU HAVE DICK'S SECURED I GUESS AS THE QUESTIONS ARE GOING TO BE RICHFIELD WELL IT'S NOT IT'S NOT A SIGNED LEASE IT IS LETTER OF INTENT IT IS AT GOOD AT THE GOOD FAITH POINT OF THE DISCUSSION. SO WE HAVE LETTERS OF INTENT THAT ARE SIGNED. WE'VE GOT LAWYERS WORKING ON LEASES BUT IT'S WE DON'T QUITE HAVE DICK'S QUITE YET THAT YOU KNOW AND GIVEN THE RETAIL ENVIRONMENT CAN CHANGE BUT WE ARE WORKING TOWARDS GETTING THEM INTO SOUTH TONE CREATING A NEW ANCHOR YOU KNOW WE USED TO HAVE MONTGOMERY WARDS WHICH DROVE THE SUCCESS ALL THE SMALL SMALL RETAILERS THIS WAS TEN YEARS AGO NOW AND WE THINK THAT THAT WOULD BE A GOOD REPLACEMENT THAT KIND OF FOOT TRAFFIC WILL HELP ALL THE OTHER RETAILERS WILL HELP US ESTABLISH MORE RETAIL THERE IN THE MIXED USE BUILDING AND IT WILL HELP WITH ALL OF OUR OTHER SMALLER TENANTS AS WELL. SO WE'RE HOPEFUL THAT WE GET DICK'S IT'S NOT DONE YET. WE'RE WORKING IN GOOD FAITH. YEAH WELL THAT'S GREAT. I'M HAPPY TO HEAR THAT.  MY CONCERN WOULD BE SHIELDS IS SUCH A POWERHOUSE OVER IN EDEN PRAIRIE THERE.  I MEAN IF YOU EVER GO OVER THERE IT'S JUST PACKED ALL THE TIME. IT'S FORMIDABLE COMPETITION BUT I WISH THEM THE BEST. IT DICK'S IS BEING SHIELDS WE KNOW A LITTLE ABOUT SHIELDS.  WE BUILT THAT STORE IN EDEN PRAIRIE FOR SHIELDS WE KEPT CROW SANDERSON THEY BUILD ONE STORY HERE AND THEY BUILT IT OUT OF CASH. DICK'S IS A NEW YORK STOCK EXCHANGE COMPANY. THEY'RE BUILDING MANY MORE THAN ONE PER YEAR. AS A MATTER OF FACT, THERE'S ONE JUST ABOUT FINISHED IN ROSEVILLE RIGHT NOW. THERE'S ONE THAT FINISHED LAST YEAR IN MINNETONKA I'D INVITE TO STOP IN THERE AND SEE HOW BUSY THOSE STORES ARE YOU KNOW ? GREAT. GOOD REPORT. LOOKING FORWARD IT THANK YOU, MR. PRESIDENT. THANKS FOR THE INFORMATION. THANKS FOR BEING HERE WITH US THIS EVENING. SO WHEN WITHIN THE PAST DECADE CAN'T EVEN RECALL WHEN WHEN THE THIS PORT AUTHORITY AND ULTIMATELY THE CITY COUNCIL THE PEN AMERICAN DISTRICT PLAN IT THE THE INFILL LOOKED MORE URBAN THERE WERE THERE WERE THE CROSS STREETS THERE WERE THERE WAS NOT MUCH OF THE SURFACE PARKING AS WHAT WE'RE SEEING HERE PERHAPS YOU CAN HELP US EXPLAIN YOUR THINKING HOW YOU GOT TO THIS DECISION AS OPPOSED TO THAT PLAN WHICH SHOWED MORE AS I SAID CROSS STREET MORE URBAN FEEL MORE INFILL FEEL RATHER THAN THAN THE SURFACE PARKING AND WE'RE LOOKING AT I CERTAINLY DON'T MEAN ANY DISRESPECT TO THE PEOPLE WHO DID THE PLANNING OF THE PEN AMERICAN PLAN BUT WE DON'T THINK THAT THEY TOOK THE POWER LINES BISECT THE SITE INTO ACCOUNT ENOUGH THAT IT REALLY THEY REALLY HAD LOOKED AT THAT SITE THOUGH THAT WASN'T PRESENT WE HAVE YOU KNOW IF WE WERE TO USE THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR A MIXED USE OR MULTI-TENANT AT BUILDING THEY DON'T ALLOW YOU TO BUILD A FALL LINE. THAT'S WHY THAT LITTLE YELLOW CIRCLES ON THERE SO WE COULDN'T THAT WOULD WE WOULD BE KIND OF CUTTING OUT EXCISING A WHOLE SOURCE OF FINANCING THAT WE'VE USED ON A NUMBER OF OTHER PROJECTS SO WE HAVE TO REALLY LOOK AT HOW DO WE MAKE THE BEST OF A BAD SITUATION POWER LINE BISECTING OUR 36 ACRES RIGHT DOWN MIDDLE CREATES A LITTLE BIT OF A BERLIN WALL AND HOW DO WE MAKE THAT WORK FOR THE RETAIL THAT WE'RE GOING TO BUILD AND THAT'S ALREADY EXISTING ON BOTH SIDES OF IT MORE RETAIL THAT WE'RE GOING TO BUILD ON BOTH OF IT.  HOW DO WE MAKE PEOPLE FEEL COMFORTABLE LIVING IN PROXIMITY TO THAT AND NOT HAVING IT SO THAT THEY'RE THEY'RE EXPERIENCING THE POWER LINE ON A FIRSTHAND BASIS? WE WANT TO BE FAR ENOUGH FROM THAT SO WE HAVE TO PAY ATTENTION TO THAT AND THAT IS OUR IT TRULY IS THE ACHILLES HEEL OF SELF-HELP. MM HMM.  I APPRECIATE THAT. I UNDERSTAND AND AND I KNOW IT'S COST PROHIBITIVE TO TO GET THE POWER LINES UNDERGROUND AND WHICH WOULD BE THE PERFECT SOLUTION TO TO TO THE MR. PRESIDENT'S POINT.  I WOULD CONTINUE TO ENCOURAGE YOU THINK BIG THINK AS BIG AS POSSIBLE AND THINK EVEN WITHIN THE POWER LINE FALL AREA I SEE SOME GREENSPACE I MEAN THE THE MORE GREENSPACE THE BETTER I WOULD THINK ESPECIALLY IN A A LARGE SURFACE AREA LIKE THAT IT WOULD CERTAINLY MAKE IT MORE LIVABLE IF YOU'RE ABOUT TRYING TO SOFTEN OR MITIGATE THE THE LOOK AND THE FEEL OF POWER LINES RUNNING THROUGH IT ESPECIALLY FOR RESIDENTS, THEIR FOLKS WHERE THEY'RE OUT ENJOYING DINNER IT COULDN'T HURT I LIKE THE GREEN SPACE YOU HAVE AND WOULD CONSIDER AS MUCH AS YOU POSSIBLY COULD ADD TO THAT AS WELL WITHOUT IMPACTING THE THE DEVELOPMENT OPPORTUNITY I THINK THAT IT IS LITERALLY THERE'S GOING TO BE ADDITIONS HUNDREDS OF TREES THAT DON'T EXIST THERE TODAY.  THE TREES THAT ARE THERE TODAY ARE ASH TREES WHICH DON'T THINK ARE LONG FOR THIS WORLD. SO EVERYTHING THAT WE HAVE THAT'S MATURE I THINK IS GOING TO BE FELT PRETTY SOON. SO THE THE THE CHANGE OF THE EASTERN THIRD IS GOING TO BE REMARKABLE. THANK YOU FOR THAT AND YES ANY GREEN SPACE WOULD BE IN ADDITION RIGHT NOW BECAUSE THERE IS NONE. WELL, THAT'S WHY WE PUT THAT TONGUE IN CHEEK EXACTLY.  THIS IS OUR GREEN SPACE AND LILAC LILAC BUSHES THOSE WERE LILAC. YES, YES, YES EXACTLY.  MR. PEARSON, THANKS FOR COMING TONIGHT. IT'S FUN.  SEE A KIND OF BIG PICTURE LEVEL. THE PLANS OF THE CITY LIKE THE MAYOR TALKED ABOUT KIND OF AND AND THE PLANNING EFFORTS STARTING TO COME TO FRUITION HERE AND IN PARTICULAR IT'S NICE TO SEE THAT A LOT OF THE USERS KIND OF LEVERAGING INVESTMENTS WE'VE MADE PARTICULARLY LIKE AROUND TRANSPORTATION INVESTMENTS IN THE AREA AND MAKING GOOD USE OF THAT. ONE OF THE THINGS THAT I THINK WE'VE BEEN PRETTY GOOD AT IS IDENTIFYING INVESTMENTS THAT WE CAN MAKE IN AN AREA AND USING THAT TO KIND OF DRIVE AND THAT THE PAN AMERICAN PROJECT WHICH STARTED I THINK IN 27 OR 26 IS WHEN WE FIRST STARTED WORKING ON THAT PROJECT AND SO WE'RE PROBABLY WE'RE COMING UP CLOSE TO 17 YEARS SINCE THAT PROCESS WENT ON AND I THINK NOW AS AS YOU'RE GOING INTO THE AND ACTUALLY TALKING ABOUT OKAY CAN WE ACTUALLY DO HERE THINGS LIKE THE POWER LINES AND STUFF LIKE THAT START COME INTO PLAY BUT IF YOU ZOOM OUT AND YOU SEE IN THE AREAS OF THE PROPERTY WHERE YOU HAVE LOT OF FLEXIBILITY HERE YOU'RE MAKING MAKING GOOD USE OF THAT AND BIG AND I LIKE I LIKE THAT AND SO I'M LOOKING FORWARD TO SEEING MORE DETAIL ON THAT SO THAT COMES ALONG BUT I, I LIKE THE DIRECTION THAT YOU'RE TAKING THINGS IN . THANK YOU FOR THE QUESTIONS COMMENTS. WELL THIS IS OBVIOUSLY IS A WORK IN PROCESS AND SO WE'LL BE INTERESTED IN HEARING AS IT MOVES ALONG AND AND BUT IT IS SOMETHING THIS IS OBVIOUSLY ONE OF THE BIGGEST AREAS IN BURLINGTON IN TERMS OFETAIL MEAN WE HAVE WELL OBVIOUSLY THE MALL IS NUMBER ONE BUT AND YOU HAVE SOME OTHER AREAS BUT AGAIN THIS JUST SUCH A VISIBILITY IT'S IT'S A ONE ON ONE SIDE I MEAN SO AT ANY RATE LET'S HOPE THAT YOU CAN TAKE AND GET IT AND MAYBE INTEREST RATES BE A LITTLE LESS AND YOU CAN DO MORE.  WE'RE GOING TO CONTINUE TO PLAN TO GET THERE. GREAT. THANK YOU. AND I KNOW MIKE HAS SOME MORE THINGS TO SAY THANK YOU FOR. THANK YOU.  THANK YOU. YEAH.  SO THE REASON WE WANTED TO BRING THIS WAS TO DISCUSS THE POSSIBILITY A TAX INCREMENT FINANCE DISTRICT COME IN WHETHER WE DO IT THIS PHASE OR IF WE WAIT FOR A LATER PHASE. AND SO WHEN THIS WAS PRESENTED TO US THAT WAS KIND OF OUR BIG QUESTION WAS SHOULD WE MOVE IN 2024 WITH THE DICK'S SPORTING GOODS PHASE? I MEAN THAT'S NOT TYPICALLY SOMETHING WE SUPPORT WITH TIFF A RETAIL STORE BUT KNOWING THAT THIS INVESTMENT WITH TIF WOULD BE USED TO FACILITATE THE NEXT PHASES 234 LOOKING AT THINGS LIKE WE'VE TALKED ABOUT STORMWATER MANAGEMENT, NEW GREEN SPACE LOOKING AT JUST MAKING IT MORE WALKABLE AND JUST ALL THE DIFFERENT THINGS THAT WE'RE TALKING ABOUT IN THE PAN AMERICAN DISTRICT AND DOING WHAT WE CAN, KNOWING THE CONSTRAINTS WITH THE UTILITY LINES IN THE MIDDLE AND FINDING WAYS AS WE MOVE FORWARD INTO THOSE NEXT PHASES TO MAKE THAT WE ARE HITTING THOSE GOALS OF THE PENN AMERICAN DISTRICT SO.  ONE OF THE THINGS LIKE I SAID THAT WE HAVE TO CONSIDER IS THE TICKING CLOCK OF THREE YEARS.  SO IF WE DO WAIT FOR A LATER PHASE PHASE TO BE IN THAT OFFICE MEDICAL BUILDING THAT'S KIND OF THE NORTHEASTERN PART OF THE SITE WE RUN INTO THAT POTENTIALLY COULD BE THAT THE MARKET'S NOT THERE. YOU KNOW, OFFICE IS KIND OF SQUISHY.  YOU KNOW, MEDICAL OFFICE TENDS TO BE A LITTLE BIT BETTER.  YOU'VE SEEN OTHER GRANT PROPOSALS WE'VE DONE FOR CLEAN UP GRANTS FOR MEDICAL OFFICE THAT DIDN'T MOVE FORWARD FOR WHATEVER REASON. SO IT'S NOT A SURE THING IN THIS MARKET ENVIRONMENT BUT THE ISSUE THAT WE'VE ALLUDED TO IS SEWER CAPACITY.  SO THE FIRST PHASE THE SPORTING GOODS RETAIL STORE IT CAN MOVE FORWARD BECAUSE IT'S REPLACING LIKE FOR LIKE WE TORE DOWN RETAIL STORES AND WE'RE PUTTING UP A RETAIL STORE SIMILAR SIZE I'M NOT SURE EXACT NUMBERS BUT WE'RE NOT ADDING A TON TO WHAT THE SEWER CAPACITY NEEDS ARE THERE THAT CURRENTLY EXIST BUT WITH THE MEDICAL OFFICE BUILDING THAT A SUBSTANTIAL DEVELOPMENT THAT WOULD PUT US OVER OUR SEWER CAPACITY THE AREA SO THAT'S WHY YOU SEE I'VE GOT BACK UP HERE WE'VE GOT JULIE LANG HERE TO TALK TO THAT IF WE NEED TO GO INTO DETAILS OF WHAT THE PLAN TO ADDRESS THAT CAPACITY IN THE FUTURE BUT WE ARE WORKING ON IT AND YOU KNOW MEDICAL OFFICE IS ONE PHASE BUT THEN YOU SEE ALL THOSE RESIDENTIAL AND RESIDENTIAL UNITS USE QUITE A BIT OF WATER AS WELL AND THAT IS DEFINITELY SOMETHING THAT NEEDS TO BE SOLVED FOR THOSE LATER PHASES AND KNOWING THAT THAT IS A CONSTRAINT WE ALSO I HAVE MICHELA HEWETT HERE BAKER TILLY TO GO INTO SHE CAN GO INTO SOME OF THE TIFF REQUIREMENTS SO ONCE WE ESTABLISH A TIFF DISTRICT WE CERTIFY THAT DISTRICT USUALLY TOWARD THE END OF CONSTRUCTION WE HAVE FOUR YEARS TO ACTUALLY START CONSTRUCTION ON THE PARCELS THAT ARE GOING TO BE DEVELOPED OR UTILIZED THE TIFF DISTRICT OR INCREMENT GENERATED WE THINK THAT WON'T BE AN ISSUE BECAUSE STORM WATER LIKE I SAID WILL BE USED IT WILL BE USED FOR BOTH PARCELS SO IF THAT MEDICAL OFFICE DOESN'T QUITE START CONSTRUCTION SAY INTO THREE YEARS WE'VE ALREADY STARTED DUE TO QUALIFYING ACTIVITIES THAT ARE SUPPORT IN THAT BUT WE ALSO HAVE THIS FIVE YEAR CONSTRAINT WHERE WE NEED TO ACTUALLY HAVE THE FUNDS ENCUMBERED THAT ARE GOING TO BE USED FOR THE INCREMENT. SO THESE ARE THINGS THAT WE WOULD GET INTO INTO A FORMAL APPLICATION BUT WE DIDN'T WANT TO TAKE THAT STEP IF YOU WEREN'T COMFORTABLE WITH THE DEVELOPMENT IN THAT GREATER VISION WE DIDN'T WANT TO WASTE PEOPLE'S TIME AND ENERGY AND MONEY AND AN APPLICATION THAT WAS A NO GO. SO THAT'S KIND OF WHY WE WERE HERE TODAY TO KIND OF HAVE THAT DISCUSSION. HAVE YOU SEE THE VISION FOR THE PLAN AND SEE IS THIS SOMETHING THAT YOU THINK WE WOULD ENTERTAIN TAX INCREMENT DISTRICT IN THE FUTURE?  WELL, MIKE, I THINK THIS IS SOMETHING I MEAN WE'VE DIFFERENTIATED ALL ALONG BETWEEN MIX MIXED USE PROJECTS AND OTHER PROJECTS. I MEAN AND THAT WAS REALLY THE FORCE BEHIND THE MALL DEVELOPMENT THAT IT WAS A MIXED USE WITH VARIOUS THINGS AND SO BASED UPON ALL THESE THINGS AND THERE ARE PROBABLY PEOPLE THAT CAN TO THIS BETTER THAN ME BUT I THINK THAT IT CERTAINLY MEETS A LOT OF THE INDICIA OF OF THAT WHICH IS WHEN WE WHEN WE GET INTO PROVIDING TIFF FUNDING SO LET OTHER PEOPLE AND I KNOW CHAIRMAN STAVER BOTH BEEN A LOT OF CITY COUNCIL ISSUES ON THESE THINGS AND WHETHER THIS IS SOMETHING KIND OF FALLS INTO WHAT THE VISION OF THAT.  YES, MR. PEARCE, I THANK MR. PRESIDENT. I THINK THE KEY THING FOR ME IS TO I THINK SOMEBODY HAS TO TIE TOGETHER THAT IT ACTUALLY ENDS UP DELIVERING A MIXED USE AS PART OF THE DISTRICT BECAUSE WHAT I DON'T WANT TO DO IS GET IN A SITUATION WHERE THE DISTRICT GOES IN AND THEN WE'RE WE'RE USING THAT TO BUILD A RETAIL STORE AND THEN THAT THE REST OF TURNS OUT NOT TO BE FEASIBLE FOR WHATEVER REASON. SO THE THING I'D BE CURIOUS ABOUT IS MAKING SURE THAT THAT WE'RE KIND OF DEALING WITH A BUNDLE SORT OF TRULY AS A MIXED USE PROJECT THAT THAT'S THE THING THAT I THINK ABOUT WHEN I LOOK AT THE THAT THE WHAT'S BEING PROPOSED HERE IT'S A PRESIDENT.  MR. PETERSON THAT IS SOMETHING THAT WE ARE WORKING WITH WITH BAKER TILLY TO SURE THAT YEAH IT IS NOT GOING FOR PHASE BUT SUPPORTING THOSE FUTURE EFFORTS IN SOME WAY TO MAYBE HOLD THE MONEY OR YEAH WE'RE WORKING ON SCENARIOS TO DO THAT IF I COULD MR. PRESIDENT, I WOULD AGREE, COMMISSIONER,  THAT YES, I'D NEED SOME ASSURANCE THAT IT WOULD A MIXED USE PROJECT AND THEN ALSO I THINK YOU'VE YOU'VE TEASED THAT AT A COUPLE OF TIMES THIS NOTION THE SEWER CAPACITY AND I THINK IT WOULD BE HELPFUL FOR THIS GROUP I TO HEAR AT LEAST A TWO AND A HALF MINUTE SUMMARY OF WHAT THE THE CURRENT SITUATION IS WHAT IT'S GOING TO TAKE TO REMEDY SITUATION TO ACCOMMODATE WHAT WE'RE TALKING ABOUT HERE AND WHAT'S SOURCES WOULD BE BECAUSE IF WE'RE TALKING ABOUT MIXED USE AND WE'RE TALKING ABOUT HOUSING AND TALKING ABOUT AND THEN I WANT TO STEP TOO FAR HERE BUT IF WE'RE TALKING ABOUT POTENTIAL STATE PARTICIPATION THEN GOING TO HAVE TO BE TALKING ABOUT POTENTIAL AFFORDABLE HOUSING UNITS AS OF THIS AS WELL. SO AND I'LL HAND IT OVER TO JULIE.  WELCOME JULIE THANK YOU, MR. PRESIDENT. COMMISSIONERS, I'M THE CITY STAFF HAS BEEN LOOKING AT IMPLEMENTING A CITYWIDE SAC. THIS HAS BEEN UNDER DISCUSSION FOR AT LEAST A DECADE TO FIGURE OUT HOW TO IMPLEMENT GROWTH COMPONENTS BECAUSE BLOOMINGTON WAS TRADITIONALLY A SUBURB AND WE'VE GOT ADEQUATE SEWER CAPACITY FOR THAT. BUT IF WE WANT TO GROW OUR COMMUNITY, HOW DO WE HANDLE THAT WITH HOUSING AND OTHER THINGS? SO WE'VE BEEN LOOKING AT HOW TO IMPLEMENT A CITYWIDE SAC. WE WENT TO COUNCIL AS A STUDY MEETING AND WE'RE IN THE MIDST OF OUR ENGAGEMENT WITH THAT DISCUSSION. WE'VE HAD SOME DEVELOPER ROUNDTABLES AND WE'RE TRYING TO FIGURE OUT WHERE BEST TO GO AND GET SOME OF OUR RATEPAYER IMPACTS AND THEIR FEEDBACK FROM THAT.  SO WE'RE WE'RE STILL NOODLING ON THE DIFFERENT METHODOLOGIES . WHAT WE'RE LANDING ON IS WITH OUR HELP OF OUR CFO IS TRYING TO FIGURE OUT HOW TO BOND FOR FUTURE PROJECTS WITH BACKING OF A SAC KNOWING THAT A SAC AS DEVELOPMENT EBBS AND FLOWS ISN'T A CONSISTENT FEE STRUCTURE AND SO THAT WE NEED TO ALSO HELP BACK THAT MONEY WITH THE RATE PAYERS SO RATEPAYERS MAY NEED TO PAY MORE UPFRONT HERE IN LET'S PRETEND IT'S THE FIRST FIVE OR TEN YEARS AND THEN THEY'LL GET REIMBURSED WITH LOWER RATES IN THE FUTURE AND SO WE'RE DOING SOME OF THE COST BENEFIT ANALYSIS OF THAT AND HOW ACTUALLY ALL WORKS IN PLACE TOGETHER.  IS THAT A GOOD ENOUGH TWO AND A HALF MINUTE OVERVIEW FIRST MR. PETERSON YEAH, THIS IS THIS IS PROBABLY A CFO QUESTION NOT A NOT A ENGINEER QUESTION BUT SO IS THERE YOU KNOW, I UNDERSTAND YOUR YOU KNOW, YOU'RE TRYING TO KIND OF SMOOTH THE ON THE REVENUE SIDE OF THE REVENUE BOND TO MAKE IT BE PALATABLE TO THE LENDERS. IS THERE ANY WAY USE THE PORT'S KIND OF FINANCIAL CAPACITY TO HELP WITH THAT IN TERMS OF BEING FIGURE OUT HOW TO KIND OF BE SOME SMOOTHING ON THAT AS OPPOSED TO RATE PAYERS? I'M JUST THINKING ABOUT IS THAT AN THAT YOU'RE CONSIDERING FOR THE PRESIDENT COMMISSIONER COMMISSIONER PETERSON THE CITY WOULD BE ISSUING THOSE BONDS SO THE PORT WOULD HAVE TO DEDICATE A PORTION IF WERE TO PUT THEIR LEVY TOWARD IT. THAT'S ALL THE PORT AUTHORITY REALLY HAS AS A PORTION OF REVENUE TO APPLY TO THIS. SO AGAIN THAT LEVY APPLY TO ALL PEOPLE IN BLOOMINGTON THAT PAY THEIR LEVY SO THE SEWER ONES MEAN YOU HAVE SOME EXEMPT PEOPLE? THERE ARE SOME EXEMPT ORGANIZATIONS THAT WOULDN'T DO THAT IF YOU'RE ACTUALLY USING YOUR WATER AND SEWER.  WE'RE IMPACTING EVERYBODY THAT USES WATER AND SEWER SO IT'S ONE WAY OR ANOTHER WE NEED TO COLLECT CONSISTENT REVENUE SOURCE FOR A BOND RATING.  OKAY. THANK YOU.  OTHER QUESTIONS COMMENTS?  WELL, THIS IS OBVIOUSLY A WORK IN PROCESS AND I THINK I DON'T KNOW WHETHER IT MAKES SENSE TO TO TALK ABOUT THE SPECIFIC MECHANICS OF WHAT WE'D HAVE TO DO FOR THE TIP PLAN OR THAT AT THIS JUNCTURE BUT THIS IS MEANT TO JUST BE HIGH LEVEL AND MORE I'M SENSING A HEAD NOD THAT YES. DO YOU THINK IT'S APPROPRIATE THEY MOVE FORWARD WITH A FORMAL APPLICATION AT WHICH POINT WELL ENGAGE WITH BAKER TILLY MORE AND GET SOME DETAILS AND WE'LL GO THROUGH THE NORMAL FORMAL PROCESS OF THE TIF DISTRICT APPROVAL AND ALL THE NOTICE REQUIREMENTS THAT GO ASSOCIATED WITH THAT BUT.  MR.. MR..  I JUST HAD A COMMENT HERE AND AND KIND OF ON ON THE BACK OF WHAT COMMISSIONER PETERSON SAID ABOUT GOING IN TOO QUICKLY AND DEVELOPING THE RETAIL PRODUCT A PORTION OF THAT WHICH WAS MERIT. BUT I'M ALSO CONCERNED ABOUT JUST THE COMMENT MADE ABOUT DIFFICULTY FINANCING MULTI-FAMILY I'D ADD RIGHT NOW DIFFICULTY FINANCING OFFICE MEDICAL TOO IN DIFFICULT TIME IN THE MARKETPLACE WITH THAT. SO WHO KNOWS AT WHAT POINT THAT TURNS AROUND TOO SO KIND OF THAT YOU KNOW FURTHER GAPS AND PRESIDENT ERICSON AND COMMISSIONER AND THAT'S WHAT THAT'S KIND OF THE SCENARIO I THINK LIKE I THINK WE CALL THAT BUNDLING OR FINDING A WAY TO MAKE SURE THAT WE'RE NOT REALLY INCENTING THE FIRST PHASE BUT MORE OF THE SECOND PHASE AND UNDERSTANDING WHAT WHAT OUR FLEXIBILITY IS IF THERE IS NO MARKET THERE AND WHAT CAN WE DO TO PIVOT OR AND THAT'S WHAT THE DETAILS WILL GET INTO HERE IN THE NEXT PHASE.  AND IF I COULD JUST ASK ONE MORE QUESTION SO AS WE LOOK AT THAT PAN AMERICAN DISTRICT NOW IF WE IF WE LOOK AT GENESEE AND WE LOOK AT THE DISTRICT AND ON DOWN KNOX GOING UP AND THIS POTENTIAL DEVELOPMENT AND HOW MANY HOW MANY UNITS WOULD WE BE TALKING ABOUT IN THAT AMERICAN DISTRICT AND ME ON THE SPANISH AND IN YOUR HEAD TOTAL THE ONES THAT ARE ALREADY THERE. YEAH I'M THINKING PROBABLY AROUND 700 AND I THINK LIKE TO 54 GENESEE TO 54 YEAH ANOTHER HUNDRED AND ANOTHER TO FIT YEAH 87 800 YEAH THAT'S SO I MEAN THAT BE AN THAT'S AN IMPRESSIVE NEIGHBORHOOD YEAH AND RIGHT ON THE BUS TRANSITION WHICH WAS THE GOAL WELL OF THE THINGS THAT'S YOUR DISCUSSION BRINGS UP IS JUST THE IMPORTANCE OF THIS LONG RANGE PLANNING AND JULIE WAS TALKING ABOUT YOU KNOW THESE MAJOR THINGS AND OBVIOUSLY IF WE WANT TO THINK ABOUT HAVING MORE RESIDENTIAL CAPACITY WHICH WOULD BE HIGHER DENSITY THAT'S BEEN PART OF THE WHOLE MIX. YOU'RE SAYING YOU HAVE TO HAVE THE INFRASTRUCTURE TO SUPPORT IT SO THESE THINGS A LOT OF TIME THEY'RE NOT CHEAP BUT AT THE SAME POINT IN TIME IF YOU DON'T PLAN FOR THEM THEY NEVER HAPPEN. SO IT'S KIND OF A CHALLENGING PROJECT FROM A LOT OF STANDPOINTS TO DO THAT.  SO MR. PETERSEN THERE'S ONE OTHER THING I JUST WANT TO POINT OUT THAT KIND OF IN TERMS OF PLANNING AND IT'S ABOUT SOMETIMES SAYING NO TO THINGS AND THAT'S WHERE WHERE I THINK WE IN PARTICULAR WHERE WE SAID NO SOMETHING IN THIS AREA THAT'S TURNED OUT TO HAVE BEEN THE RIGHT DECISION WAS WE APPROACHED ABOUT THE PARK AND RIDE AT 82ND AND 35 W ON THAT LAND THAT JUST GOT DEVELOPED INTEROPERABLE BILLING AND AND AT THAT POINT TO BE HONEST I CAN'T REMEMBER WHO WAS INVOLVED THE COUNCIL AT THAT POINT BUT WE LOOKED AT AND WE SAID WE SAID NO BASICALLY THAT WE WEREN'T INTERESTED IN HAVING THAT HAPPEN BECAUSE WE WANTED TO KEEP THE TRANSPORTATION FOCUS IN THIS NEIGHBORHOOD AND NOT HAVE IT BE IN A DIFFERENT SPOT. AND THEN THE PLAN CAME ALONG TO BUILD THE TUNNEL UNDER THE FREEWAY AND THEN BRT KIND OF GOING LIKE THAT AND I THINK THAT'S A MUCH BETTER SETUP FOR THE SORT OF DEVELOPMENT THAN PUTTING THE KIND OF TRANSPORTATION FOCUS WAY OVER ON THE SIDE THERE. AND SO ONE OF THE THINGS I THINK WE HAVE TO KEEP IN MIND IT'S NOT NO THIS PROJECT BUT IF THE PEOPLE WILL COME ALONG OCCASIONALLY AND ASK FOR THINGS AND WE NEED TO BE READY TO SAY NO BECAUSE THERE MIGHT BE SOMETHING THERE THERE'S SOMETHING BETTER THAT SERVES US BETTER IN THE LONG TERM. WELL I THINK THAT'S BEEN THE WHOLE PHILOSOPHY BEHIND THE WHOLE DEVELOPMENT THE SOUTH LOOP LINE. WE'VE TRIED TO BE PATIENT. THERE WERE A LOT OF WE COULD HAVE HAD A LOT OF BIG BOX OUT THERE AND STUFF A LOT SOONER BUT WE NO AND I THINK THIS IS A UNIQUE OPPORTUNITY HERE SO AGAIN IT'S IT'S EXCITING AND.  WE JUST NEED TO THINK CAREFULLY DOING AND DO THE PLANNING AND SEE WHAT THE PARAMETERS AND STUFF ARE.  IT CLEARLY IS EXCITING AND IF YOU CAN ACCOMPLISH THE MIXED USE DEVELOPMENT AND DO THOSE THINGS THAT I WOULD FULLY AGREE AND SUPPORT WHAT COMMISSIONER PETERSEN SAYS YOU'VE GOT TO MAKE SURE YOU'RE GETTING THE WHOLE BALL AND THAT'S JUST ONE PIECE THAT ENDS UP BEING JUST A PART OF WE WANT AND THEN YOU REALLY END UP SUB DEVELOPING THE SITE SO OKAY I'VE GOT THE NEXT ITEM ITEM OKAY GO AHEAD GO FOR IT.  SO THE NEXT ITEM IS I DON'T HAVE A SLIDE FOR IT BLOOMINGTON CENTRAL STATION. JUST A BRIEF UPDATE WE WANTED JUST GIVE YOU A LITTLE PREFACE SO SOME THINGS THAT MIGHT BE COMING IN THE NEAR FUTURE SO THEY CONTINUE TO WORK ON PHASE FIVE.  WE KIND OF HAVE A DEVELOPMENT AGREEMENT BUT THEY CONTINUE LOOK FOR FINANCING FOR THAT SO NO BIG UPDATES FOR THAT BUT THAT WOULD BE JUST TO THE NORTH OF CARBON 31 CARBON 31 HAS BEEN STRONG PERFORMANCE. THEY'VE GOTTEN 60% LEASED IN THE LAST TEN MONTHS SO THEY'RE AVERAGING 25 LEASES A MONTH WHICH IS WHAT THEY WERE LOOKING FOR. UNFORTUNATELY THE ROCKS AND DALES WE KNOW IT CLOSED IN FEBRUARY SO THEY ARE LOOKING FOR A NEW GROCERY STORE TO FILL THAT SPACE. THEY HAVE BEEN TALKING TO A HANDFUL OF DIFFERENT GROCERS AND KIND OF DIFFERENT MODELS THAT THEY'RE LOOKING AT AND ONE THING THAT'S COME UP IS OUR RECAPTURE AGREEMENT. SO WE THIS AGREEMENT THAT IF A GROCERY STORE DOES REALLY WELL WE WOULD CAPTURE SOME OF THOSE PROFITS PUT INTO RESERVE FUNDS AND IT'S NOT THAT THEY THESE RETAILERS ARE SCARED OFF BY THE RECAPTURE AGREEMENT WE THINK IT'S APPROPRIATE TO HAVE BECAUSE MAYBE IT DOESN'T DO WELL IN YEAR TWO BUT YEAR FIVE IT STARTS GETTING A STRONG HOLD. WE STILL WANT TO HAVE THAT. IT'S JUST A VERY COMPLICATED STRUCTURE THAT WE HAVE AND THESE GROCERS DON'T QUITE THEY'RE HAVING A HARDER TIME UNDERSTANDING THE IMPACTS OF IT SO.  THEY WILL LIKELY MCGUFF DEVELOPMENT WOULD LIKELY COMING BACK TO REQUEST AN AMENDMENT TO THAT MORE SIMPLIFIED THAT WOULD BE MORE OF A PERCENTAGE OF LEASE POTENTIALLY THAT WOULD GO INTO AS GROWTH.  SO WE JUST WANTED TO GIVE YOU A HEADS UP THAT MIGHT COME SO YOU'RE NOT WONDERING WHERE IS THIS COMING FROM OUT OF THE BLUE BUT THEY ARE LOOKING AT YEAH A GROCER TO TO FILL THAT SPACE SO HOPEFULLY SOON WE'LL HAVE SOMETHING THEY TECHNICALLY HAD A NINE MONTH PERIOD TO FIND A GROCERY STORE AT WHICH POINT IF THEY DON'T THEY REQUEST FORMAL ACTION TO ALLOW THEM TO PURSUE OTHER RETAIL EFFORTS.  BUT AT THIS POINT WE'VE BEEN MEETING WITH THEM REGULARLY. THEY CONTINUE TO LOOK FOR GROCERY STORES AND WE'VE KIND OF BEEN ABLE TO VERIFY WHO THEY'RE TALKING TO THAT THEY ARE MAKING SOME PROGRESS AND SO YEAH THAT'S I THINK ALL OF WHAT I HAD TO UPDATE ON THAT.  GREAT. WELL JUST COMMISSIONER HUNT, I WAS LATE COMING HERE TODAY. I WAS AT A MEETING AT A CLIENT METRO OFFICE PARK AND AS THEY GO OUT THERE EACH TIME THEY SAY WHAT'S HAPPENING AND WHEN IS THE GROCERY STORE COMING BACK AND THE COMMENT AND THIS IS FROM A COUPLE OTHER BUSINESSES IN THAT SAME GENERAL WHEN IT CAME IN LOVED IT BUT NOBODY KNEW IT WAS THERE NOBODY KNEW IT WAS OPENING SO PASSING SOMETHING ON TO THE GAP AND WHOEVER IS THE RETAILER THERE THEY NEED TO GET NAME OUT AND ADVERTISE AND YOU KNOW WHAT THOSE TENANT BUILDINGS AND THERE'S A TON OF OFFICE PEOPLE THERE THAT YEAH YOU LOVED IT THE SHORT TIME WHEN THEY FINALLY FIGURED OUT IT WAS OPEN AND TO BE ABLE TO GO THERE GRAB LUNCH GRAB SOMETHING FOR THE WAY HOME HOW EASY IT WAS AND REALLY WANT A GROCERY STORE THERE AND ARE ALSO MISSING THE COFFEE SHOP AROUND THERE TOO THAT I'M TOLD WOW WELL AND FOR PETE'S SAKE MAKE IT KNOWN HAVE AN OFFICIAL LIQUOR LICENSE. YEAH OH YEAH YEAH YEAH. WELL LET ME GIVE YOU A LITTLE LESSON IN SUPERMARKET ECONOMICS ONE ON ONE SUPERMARKETS ARE VERY EXPENSIVE TO BUILD BUT ONCE YOU PUT THE COSTS IN THERE YOU PROBABLY GET $0.10 IN THE DOLLAR IF YOU TAKE ANYTHING OUT. SO THERE'S A LOT OF SUNK COST IN THERE THAT HOPEFULLY IS THE ECONOMIC INCENTIVE FOR THEM TO DO SOMETHING WITH IT BECAUSE IT VERY EXPENSIVE. SO HOPEFULLY THEY THEY ARE GOING TO BE ABLE TO GET SOMETHING DONE AND I COULDN'T AGREE MORE I MEAN I THINK THAT WAS ONE OF OUR KEY THINGS WHY WE WANTED TO STRETCH ON IT BECAUSE WE'RE TRYING TO MAKE THAT A LIVABLE COMMUNITY OUT THERE WHERE PEOPLE CAN COME AND AND WE WERE ALL EXCITED AND IT JUST WENT ON FAST BUT I WOULD AGREE WITH COMMISSIONER HUNT'S COMMENTS I MEAN WHEN I WAS THERE YEAH. SO IT'S IT'S IT'S THE KIND OF THING AND MAYBE THIS WAS AN OPERATION THAT WAS NOT A LARGE OPERATION. THEY PROBABLY MORE OF A NEIGHBORHOOD STORE OR SOMETHING AND JUST DIDN'T THINK ABOUT IT SO AND. MR. LUTZ YEAH AND WHAT YOU'VE HEARD SO FAR I MEAN RETAIL FOLLOWS ROOFTOPS IS THE ROOFTOP, YOU KNOW STILL THE PROBLEM. I MEAN WHEN YOU BODIES PEOPLE LIVING THERE FULL TIME AND THEN OF COURSE I KNOW THE NEW DYNAMIC OF DOORDASH AND ALL THAT I HEARD DID NOT HELP OXTAILS EITHER SO I'M JUST OF WONDERING IS THAT THE FEEDBACK THAT PRESIDENT ERICKSON AND COMMISSIONER LYONS THAT IS ONE OF THE THINGS WE HEARD THAT THE SALES WERE THERE, THE NUMBER OF SALES WERE THERE BUT THE SIZE OF THE SALES WERE NOT YOU'RE NOT DOING THE WEEKLY GROCERY SHOPPING IT'S SMALL KIND OF TEN $15 BECAUSE PEOPLE ARE USING DOORDASH OR OTHER KIND OF FOOD OPTIONS BECAUSE IT TENDS TO SKEW A LITTLE BIT YOUNGER OR SINGLE THAT LIVE IN OR SINGLES COUPLES THAT LIVE IN THIS DEVELOPMENT IN THAT IMMEDIATE AREA SO THEY ARE DOING THAT MORE EATING OUT OPTIONS SO THAT IS ONE OF THE THINGS THAT THEY WERE LOOKING FOR WHEN THE GROCERY STORE WOULD HAVE SOME SORT OF KIND OF QUICK SERVICE FAST OPTION TO KIND OF SUPPLEMENT THAT. SO WHEN GROCERY SALES ARE NOT AS MUCH THEY DO HAVE THAT AND ADDRESSING THE OFFICE NEED AS WELL.  RIGHT. SO ANYTHING ELSE US MIKE JUST ONE LITTLE COMMENT AT HOW HE IS GOING TO JUMP ON IT BUT BACK STORY COFFEE IS MOVING INTO THE SHOP SPACE IN THE FAMILY AND THAT SHOULD BE OPEN ANY COUPLE OF WEEKS HERE I IT WAS SEPTEMBER WE HAVE AN EPA CONFERENCE ON THE 21ST I THINK IT IS WHAT WAS THE NAME OF IT AGAIN BACK STORY.  THE BACK STORY YEP. BACK STORY ROASTERS IS MAYBE I THINK THEY HAVE A LOCATION AND IN ORDER THROUGH AND THEY'RE MOVING INTO THAT. YEAH SO THAT SHOULD BE OPEN SHORTLY SO THAT WILL BE NICE. YEAH GREAT.  THANK YOU. THANK YOU VERY MUCH.  OKAY THEN WE NEXT AS THE SICK PARKING RAMP APPROVAL BUDGET CONTINGENCY IN PRESIDENT ERICKSON AND COMMISSIONERS I JUST WANTED TO GIVE AN INTRODUCTION TO THIS AS LUKE COMES UP TO PRESENT IT.  THIS CONTRACTING PROCESS HAS BEEN GOING ON FOR A WHILE PRECEDED LUKE AND THE CORRECTION WE'RE MAKING TODAY WAS DUE TO AN ADMINISTRATIVE OVERSIGHT IN OUR CONTRACTING PROCESS YOU KNOW WHEN I WHEN I LOOK THROUGH IT IN THE SAID CONTINGENCY I SAID WELL DIDN'T WE HAVE ONE? SO IT'S JUST SOMETHING THAT SO THIS THIS HAPPENS SO GIVE US THE UPDATE YEAH THANK YOU PRESIDENT ERICKSON AND COMMISSION MEMBERS I THINK WE ALL KIND OF THOUGHT THE SAME THING WAS THAT AT SOME POINT IN THE PROCESS THE CONTINGENCY HAD BEEN TAKEN CARE OF AND I THINK PROBABLY WHAT HAPPENED IS THERE WAS SOME GENERAL STATEMENTS MADE ABOUT YOU KNOW, MAXIMIZE, YOU KNOW, A BUDGET OF UP TO $20 MILLION WHICH TO THIS POINT WE'VE OBVIOUSLY STAYED WELL UNDER BUT THERE REALLY ISN'T A FORMAL CONTINGENCY. SO TODAY JUST FOR THE SAKE OF US AND THE PORT BEING ABLE TO SHARE THAT AND WORK WITH OUR CONTRACTORS AND HAVING A NICE DETAILED FINANCIAL SITUATION TO MAKE SURE WE'RE STAYING ON TARGET HERE WE ARE GOING APPROVE A FORMAL HER ASKING FOR APPROVAL OF A FORMAL CONTINGENCY WHICH A TOTAL OF 10% THAT'S 10% OF THE TOTAL BID BID AMOUNTS FROM THE SUBCONTRACTORS. SO IF IS A SHEET ON PAGE 23 OF THE PACKET THAT LAYS OUT THE TOTAL CONTRACTOR BID TO DATE THE ARE ALL THE CONTRACTS THAT YOU  HAVE APPROVED THROUGH THE APRIL AND MAY MEETINGS. IF YOU REMEMBER BACK A FEW MONTHS AGO. SO THAT TOTALS $16,389,332. SO OBVIOUSLY JUST 10% OF THAT IS JUST ABOUT 1.6 MILLION AND CHANGE.  I DID ALSO ADD ON TO THAT SPREADSHEET JUST FOR YOUR INFORMATION ARE THREE CONTRACTS THE PORT UNDERTOOK ON OUR OWN AND IS NOT RELATED TO THE ANCOATS OR A SUBCONTRACTOR AGREEMENT THAT IS THE CLUB ARCHITECT TWO CONTRACTS FROM THEM AND A LESSER COST REVIEW THAT'S JUST IN THERE FOR YOUR INFORMATION AND IN TERMS OF SHOWING A TOTAL BEING ABLE TO SHOW A TOTAL EXPECTED OR ANTICIPATED COST WITH THE INTENTION THAT DON'T NEED TO GO OVER A 10% CONTINGENCY BUT THE TERM PROJECT IS DONE IN ALL LIKELIHOOD WE HOPE TO BE UNDER THAT BUT REALITY.  WHAT WE SHOULD BE SPENDING IS NO MORE THAN ABOUT $18.8 DOLLARS. SO AGAIN WHILE UNDER THAT $20 MILLION ANTICIPATE TO SPEND THAT I THINK PROBABLY JASON SCHMITT HAD SHARED AS KIND OF WORKING THROUGH THE PROJECT UP TO DATE.  AND JUST SO YOU KNOW IF WE DO FOR SOME REASON NEED TO GO BEYOND THAT 10%. WE WILL BE BACK UP IN FRONT OF YOU TO ASK FOR THAT.  AND IN THE SAME WAY WITH THESE CONTRACTS ANY OF THEM THAT ARE AMENDED WILL BE UP IN FRONT OF YOU AGAIN AS WELL SO YOU WILL HAVE A CHANCE SEE THESE AGAIN WITH THE FINAL BID AMOUNTS AND TOTAL SPEND AT THE END OF THE PROJECT. AND THEN I'M ALSO HAPPY TO BRING YOU UPDATES AS WE AS WE MOVE FORWARD.  THANK YOU VERY MUCH. QUESTION IS YOUR COMMENTS?  IF NOT THEN I WOULD ENTERTAIN THE MOTION ON PAGE 21 TO APPROVE THE APPROVED SECOND MOTION AND SECOND IT. ANY FURTHER DISCUSSION NOT ALL FAVOR IMPLICITLY WERE SAYING I I OPPOSE MOTION CARRIED SIX ZERO AND I REPEAT MR. PRESIDENT I JUST WANTED TO SAY I APPRECIATE THAT IT'S IDENTIFIED AS THE BUILDING IS LOCATED AT THE NORTHWEST CORNER OF LYNDALE LANE AND WINSTEAD SO IT'S BASICALLY AT THE CORNER OF LINDO AND WINSTEAD WHICH I THINK IS PERFECT.  SO YEAH AND I WAS ALSO JUST GOING TO COMMENT THAT I'M VERY GLAD ALL THESE CONTRACTS YOURS IS GOING TO BE HANDLED WITH DOCU SIGN OTHERWISE I WOULD HAVE BEEN CAMPING OUT HERE. I THINK ABOUT OTHER DAY I GET. SO AT ANY RATE YOU'RE NOT DONE . THERE'S A FEW MORE. YEAH. OKAY SO THE NEXT ITEM IS THEN PORT AUTHORITY BUDGET AND LET ME HOW YOU'RE TO START US OFF AND HOW I SEE IN OUR PACKAGE TOO WE HAD THE THE BYLAWS AND I THINK THAT'S JUST YOU JUST PUT THE CHANGE IN THAT WE APPROVED AT THE LAST MINUTE SO IT'S JUST THERE TO SEE THAT EVERYTHING WAS DONE.  PRESIDENT ERICKSON OKAY.  THE LIGHT WASN'T WORKING. PRESIDENT ERICKSON AND COMMISSIONERS YES, THAT IS CORRECT.  I JUST WANTED TO LET YOU KNOW THAT WE MADE THE CHANGE THAT HAD BEEN REQUESTED BY PETERSON AT THE LAST MEETING AND SUMMARIZED IT ACCORDING IN ACCORDANCE TO WHAT WE DISCUSSED AT THAT LAST MEETING SO EVERYTHING IS COMPLETE. YOU'LL HAVE THE FINAL COPY NOW AND THE CHANGE IN THE RATE HAS ALSO BEEN MADE FOR THIS EVENING. OKAY. OKAY.  OKAY. PRESIDENT ERICKSON AND COMMISSIONERS, THANK YOU SO FOR HAVING US THIS EVENING. I AM HERE WITH THE PORT AUTHORITY ACCOUNTANT MARY KAY HANAN TO PRESENT TO YOU OUR PRELIMINARY BUDGET AND LEAVE REQUEST AS YOU MAY REMEMBER FROM LAST YEAR THIS IS THE FIRST STEP IN A REALLY FOUR PART PROCESS. SO WE'LL BE HERE TO PRESENT YOU OUR PRELIMINARY REQUEST. IT WILL ALSO GO CITY COUNCIL LET'S SAY IT'S A SIX PART PROCESS ACTUALLY IT WILL THEN GO TO THE COUNTY. IT WILL RETURN TO YOU FOR FINAL APPROVAL, RETURN TO CITY COUNCIL FOR THE FINAL APPROVAL AND THEN TO THE COUNTY TO BE OFFICIALLY FILED FOR NEXT YEAR AS WELL SO FIRST STEP HERE THANK YOU FOR JOINING US TONIGHT AND HOLLY IF MY MEMORY IS CORRECT BUT THIS LEVY REQUEST ON THAT DOES ASSESS THE MAXIMUM YOU CAN ALWAYS BE REDUCED IN THE CITY COUNCIL. I THINK ULTIMATELY CONTROLS THIS WHOLE PROCESS. PRESIDENT COMMISSIONERS YES THIS IS WE'RE SETTING THE MAXIMUM AMOUNT AND OVER THE COURSE OF THE NEXT FEW MONTHS WE CAN HAVE FURTHER DISCUSSIONS REFINE THE FINAL BUDGET AMOUNT OR LEVY AMOUNT AND AMOUNT. THANK YOU ALL RIGHT.  EXCELLENT. SO WE BEGIN I ALWAYS LIKE TO RESET US ALL IN OUR MISSION WORK AREAS AND PRIORITIES SO THE PORT AUTHORITY IS WAS CREATED TO PROVIDE ORDERLY ECONOMIC DEVELOPMENT THROUGHOUT. NOW THE CITY OF BLOOMINGTON PREVIOUSLY IN THE SOUTH LOOP AND WE DO THAT IN THREE DIFFERENT AREAS ONE IS DEVELOPMENT AND REDEVELOPMENT . THE NEXT IS BUSINESS ASSISTANCE WHICH IS NEW FOR US AND THEN CREATIVE PLACEMAKING AS WELL AND WE CONNECT OUR BUDGET AND OUR PLANS FOR THE YEAR WITH THE CITY PRIORITIES AS PART OF THE BLOOMINGTON TOMORROW TOGETHER PLAN OF CREATING A CONNECTED AND WELCOMING COMMUNITY A COMMUNITY WITH EQUITABLE ECONOMIC GROWTH.  OUR TIMELINE OF THIS IS ALL THE LEVY IS FAIRLY NEW TO THE PORT AND SO I WANTED TO RESET YOU IN THE TIMELINE OF HOW WE'VE GOTTEN TO THE PLACE WE ARE AT THIS YEAR IN 2022 THE PORT EXPANSION CITYWIDE WAS IDENTIFIED AS A GOAL IN AN HRA ASSESSMENT IN 2023 THAT WAS THE FIRST YEAR OF THE PORT'S EXPANDED SERVICES AND.  IT WAS FUNDED BY A $1.4 MILLION IN TRANSFER FROM THE HRA.  WE DID NOT HAVE A PORT LEVY THAT YEAR AND THE PORT INCLUDED ASSISTANCE SERVICES FOR THE FIRST TIME IN 2024 THIS YEAR WE DID HAVE OUR FIRST LEVY OF $1.5 MILLION AND IN THIS YEAR WE ALSO UNDERWENT OUR FIVE YEAR STRATEGIC PLAN PROCESS TO COMPLETED BEACON IN SEPTEMBER OF 2024 AND THAT PROCESS WILL HELP GUIDE OUR SPENDING MOVING FORWARD AS WELL IN 2025 THIS YEAR WE WILL BE REQUESTING A $2.5 MILLION LEVY THAT THE SIGNIFICANT CHANGE TO HELP US FUND RESERVES MOVING FORWARD AND ALSO TO SEED A STRATEGIC ACQUISITIONS FUND WHICH IS A NEW STEP THE PORT WOULD LIKE TO TAKE TO CONTEMPLATE PURCHASING LAND IN THE FUTURE FOR REDEVELOPMENT AND SO IN SOME OUR 2025 PRELIMINARY BUDGET AND LEVY REQUEST AS FOLLOWS OUR TOTAL PRELIMINARY BUDGETED REVENUE IS 3.394 MILLION AND THAT COMES FROM BOTH THE LEVY AND THE GENERAL FUND OUR PRELIMINARY BUDGETED EXPENSES $2,721,571 AND AGAIN THE DIFFERENCE COMES FROM US BUILDING RESERVES AND IN THAT STRATEGIC ACQUISITION FUND AND SO THAT LANDS US WITH A PRELIMINARY LEVY REQUEST OF 2.5 MILLION SOME OF OUR HIGHLIGHTS COMING UP FOR THIS YEAR INCLUDE THESE ARE SERVICES THAT WILL BE CONTINUE OUR EXPANDED OFFERING COMMERCIAL AND MIXED USE DEVELOPMENT SERVICES AS WE'VE DISCUSSED THIS EVENING INCLUDING TIP APPLICATIONS AND GRANT ASSISTANCE CITYWIDE FACILITATING THE APPLICATION OF BLOOMINGTON'S OPPORTUNITY HOUSING ORDINANCE OFFERING BUSINESS ASSISTANCE SERVICES TO SMALL BUSINESSES AND EARLY STAGE ENTREPRENEURS, OFFERING PLACEMAKING CITYWIDE AND BEGINNING THE IMPLEMENTATION OF THE CITYWIDE PLACEMAKING PLAN OFFERING DIRECT FINANCIAL ASSISTANCE TO SMALL BUSINESSES THROUGH THE FACADE IMPROVEMENT GRANT PROGRAM AND BUSINESS PROGRAM AND THOSE ARE ALREADY ACTUALLY OVERSUBSCRIBED THIS YEAR SO WE'VE ADDED A LITTLE BIT OF ADDITIONAL FUNDING AND WE MAY LOOK TO DO THAT AS WELL NEXT YEAR PARTICIPATING IN REGIONAL COLLABORATIONS SUCH AS THE CHIPS COALITION WHICH HAS BEEN A VERY POWERFUL OPPORTUNITY FOR BLOOMINGTON AND THEN ALLOCATING DEVELOPMENT FUNDING TO ASSIST WITH DEVELOPMENT PROJECTS OR STUDIES CITYWIDE WE ARE ADDING IN NEXT YEAR BEGINNING LAUNCH OF RECOMMENDATIONS OF THE FIVE YEAR ECONOMIC DEVELOPMENT PLAN WHICH YOU'LL SEE WILL BE BUILDING OPERATING RESERVES FOR THE PORT AUTHORITY WILL BE LAUNCHING THE STRATEGIC ACQUISITIONS FUND FOR FUTURE LAND PURCHASES AND WE'LL BE GAINING WE WILL BE BEGINNING A PARTNERSHIP WITH THE MINNESOTA SMALL BUSINESS DEVELOPMENT CENTER AS YOU SAW THIS EVENING AND THAT WILL EXPAND TECHNICAL ASSISTANCE OFFERINGS FOR SMALL BUSINESSES IT IS OUR INTENTION TO MATCH THE FUNDING THAT THEY WILL BE PROVIDING TO US AS A GRANT, EXPAND THE SERVICES AVAILABLE AND THEN DEDICATED FUNDS FOR PROMOTING THE CITY OF BLOOMINGTON THROUGH MARKETING STRATEGIC COMMUNICATIONS TRADE SHOWS AND OTHER OPPORTUNITIES. AND THAT'S SOMETHING WE'RE WORKING CLOSELY WITH OUR COLLEAGUES AOSS THE CITY ON ESPECIALLY COMMUNICATIONS, OUR PORT AUTHORITY WILL LOOK VERY SIMILAR FOR NEXT YEAR. WE'RE ALMOST FULLY STAFFED OTHER THAN OUR BUSINESS DEVELOPMENT SPECIALIST AND WE ARE BRINGING BACK THE SENIOR ANALYST POSITION FOR NEXT YEAR WHICH WAS THE POSITION HELD BY BECKY SCHINDLER AND SO BRINGING GENERAL AND DEVELOPMENT FUNDS TOGETHER AS I SAID EARLIER, WE LOOKING AT A 3,394,000 $3,394,000 REVENUE THIS YEAR AND THEN EXPENDITURES OF 2,721,571 IN EXPENDITURES.  AS WE LOOK AT THIS, I JUST WANTED TO REFRESH EVERYONE THAT THE GENERAL FUND AND THE DEVELOPMENT FUND ARE TWO SEPARATE FUNDS WITH TWO SEPARATE SOURCES. THE GENERAL FUND IS FUNDED BY OUR SOUTH LOOP DEVELOPMENT FUND PRIMARILY INTEREST FROM THAT FUND AND THEN THE DEVELOPMENT FUND IS FUNDED BY THE LEVY THE GENERAL CAN ONLY BE USED IN THE SOUTH LOOP AREA. IT'S GEOGRAPHICALLY RESTRICTED ,THE DEVELOPMENT FUND CAN BE USED CITYWIDE AND ALSO FOR ECONOMIC DEVELOPMENT PURPOSES PER STATE STATUTE AND OUR STAFF TIME IS ALLOCATED ACCORDING TO HOW WE WORK ON THESE DIFFERENT WORK AREAS WHETHER IT'S IN THE SOUTH LOOP AREA ON DEVELOPMENT PROJECTS OR IF IT'S CITYWIDE ON ECONOMIC DEVELOPMENT SERVICES . WE ALSO BUILD SOME STAFF TIME TO TIFF ACCOUNTS. SO IF WORKING ON A PARTICULAR PROJECT WE WILL USE THE TIFF ADMINISTRATION FUND FOR THAT AND NOW I WILL PASS IT OVER TO MARY KAY.  OKAY. WE'LL TAKE A LITTLE BIT DEEPER LOOK AT THE GENERAL FUND TO START. AS HOLLY MENTIONED, THIS IS FUNDED BY A TRANSFER FROM THE CITY AND SO THIS YEAR THE TRANSFER WOULD BE 885,000 WHICH IS A 44,000 INCREASE FROM LAST YEAR AND THE TRANSFER PRETTY MUCH IS DRIVEN BY THE EXPENDITURES. SO IF YOU LOOK AT THE EXPENDITURE THROUGH YOU CAN SEE SALARIES ARE ACTUALLY GOING DOWN BY 82,000 AND THE REASON IT'S GOING DOWN IS BASICALLY ACCOUNTING CHANGE THERE. THERE'S TWO EMPLOYEES IN CREATIVE PLACEMAKING AND EACH PAY PERIOD THEY'VE ALWAYS HAD THEIR TIME CODED TO THE CITY'S CREATIVE PLACEMAKING FUND. THE CITY SUPPORT THE CITY'S DEVELOPMENT FUND AND IT WAS JUST GETTING A BIT MESSY WITHOUT THE ALLOCATIONS. SO WORKING WITH CARY CARLSON THE DECISION MADE TO CUT ALL THEIR SALARY EXPENSES IN THE CITY'S PLACEMAKING FUND AND THEN THE PORTLAND REIMBURSED FOR SOME OF THOSE EXPENSES SO YOU CAN SEE THE SALARIES EXPENSE IS GOING DOWN BUT THEN THERE'S AN IN MATERIAL SUPPLIES AND SERVICES WHICH KIND OF OFFSET OF THAT DECREASE AND THAT WAS ABOUT 108,000.  AND SO EVEN AFTER THE 108,000 THERE STILL IS AN INCREASE IN THE MATERIAL SUPPLIES AND SERVICES AND THAT WAS DUE TO PROFESSIONAL SERVICES WITH THE POTENTIAL WATER PARK COMING IN THERE MIGHT BE ADDITIONAL EXPENSES FOR CONSULTING SO THERE WAS AN ADDITIONAL INCREASE IN PROFESSIONAL SERVICES AND THE REQUESTED BUDGET ON THE INTERNAL SERVICES IS INTERNAL CHARGES ARE LIKE THE I.T MAILROOM BUILDING CHARGES SO THOSE ARE DETERMINED BY CARY CARLSON AS PART OF THE BUDGET PROCESS AND THOSE WENT DOWN A LITTLE BIT BECAUSE SOME OF THE EXPENSES ARE DETERMINED BY THE FTE COUNT THE PAYROLL CODE AND SINCE THAT ONE EMPLOYEE WAS MOVED TO THE CITY THOSE CAME DOWN A LITTLE BUT AGAIN THAT WOULD BE IN MATERIAL SUPPLIES AND SERVICES.  AND SO OVERALL IF YOU LOOK AT THE BOTTOM LINE, THIS FUND PRETTY MUCH BREAKS EVEN WHICH IS WHAT IT TRADITIONALLY DOES EVERY YEAR.  UM  000 I'M SORRY I HIT THE WRONG BUTTON.  COMMISSIONER LYONS, DID YOU HAVE A QUESTION? I'M SORRY.  MISSED. WHY WERE THE MATERIAL AND SERVICE CHARGES UP SO FOR 2025 IT HAS TO DO THE GOING DOWN. SO THERE'S TWO EMPLOYEES IN CREATIVE PLACEMAKING THESE ARE CHARGED PART OF THEIR TIME DIRECTLY TO THE PORTS GENERAL FUND AND THEY ALSO ALLOCATE THEIR TIME TO OTHER FUNDS TO AND SO STARTING IN 2025 THE PLAN IS TO HAVE THEM QUOTE ALL THEIR TIME DIRECTLY TO THE CITY'S FUND BUT THEN THE PORT HAS TO REIMBURSE AND SO WHEN THE CITY REIMBURSES OR WHEN PORT REIMBURSES THE CITY THAT HITS THE MATERIAL SUPPLIES AND SERVICES.  SO YOU CAN SEE THE SALARIES WENT DOWN BY ABOUT 82,000 THAT SHOWS UP IN THE MATERIALS,  SUPPLIES AND SERVICES TRANSFERRING BETWEEN TWO LINES, RIGHT? YEAH.  THANK YOU .  OKAY. AND THEN NEXT WE'LL TAKE A LOOK AT THE DEVELOPMENT FUND.  UM, THE REVENUE IN THIS FUND IS JUST THE PROPERTY TAXES SO YOU CAN SEE THE REQUEST AS WE MENTIONED IS 2.5 MILLION FOR 2025 AND AS SHE ALSO MENTIONED, IT'S DRIVEN BY EXPENSES BUT THEN ALSO TRYING TO BUILD UP A RESERVE AND IF YOU LOOK AT THE SALARIES AND BENEFITS THEY'RE GOING UP ABOUT 27,000. THERE WAS PART OF THOSE CREATIVE PLACEMAKING SALARIES THAT WERE MOVED TO THE CITY'S FUND WHICH WAS AROUND 28,000. BUT OVERALL SALARIES AND BENEFITS ARE PRETTY CONSISTENT MATERIAL SUPPLIES AND SERVICES ONE UP 267,000 AND A LOT OF THAT IS DRIVEN BY SOME OF THE INITIATIVES HOLLY MENTIONED FIRST IN SMALL BUSINESSES THE FACADES CITY MARKETING UM NOW ONCE AGAIN INTERNAL CHARGES 128 AS THE CITY ALLOCATIONS AND SO THAT MES WE WOULD BE BUDGETING FOR SURPLUSES 672,000 AND SO PART OF THAT IS THE PROPERTY ACQUISITION BUT THEN PART OF IT IS ALSO JUST BUILDING RESERVE FOR THE FUND BECAUSE SINCE THE REVENUE IS ONLY PROPERTY TAX THAT ONLY COMES IN IN JULY, JUNE AND JULY AND THEN IN DECEMBER. SO THERE'S NO REVENUE IN THE FIRST SIX MONTHS OF THE YEAR SO THERE DOES NEED TO BE A RESERVE IN THE FUND OTHERWISE THE FUND IS BORROWING FROM OTHER FUNDS AND RUNNING INTO CASHED UP ASSETS SO MARY, I'M JUST LOOKING AT YOUR YOUR PERCENTAGE NUMBERS HERE AND THAT'S TO BE -83,562.87%. IT'S A BIG ONE YEAH.  SO YOU'RE COMPARING THE SIX 7287 TO THE 815 NEGATIVE I SAID IT YEAH YEAH WELL THAT THAT ALMOST WOULD DESERVE AN ASTERISK SOMEPLACE  RIGHT IT'S FAIRLY STRAIGHTFORWARD. I MEAN I THE DISCUSSION AND OBVIOUSLY THAT'S GOING TO BE A CITY COUNCIL DISCUSSION WITH YOU YOU KNOW BUT WE HAVE BEEN THE PORT AUTHORITY HAS HAD VERY FEW DISCRETION FUNDS.  WE FOUGHT VERY HARD AND THERE'S 10% BUT THAT'S STILL SORT OF MONEY ESSENTIALLY THAT HAS TO BE USED THERE. SO THERE'S REALLY NOT MUCH AVAILABLE FOR ON THE CITY OVERALL AND SO WE'VE GONE TO CITYWIDE IT'S IMPORTANT TO TO HAVE THAT IT'S STILL NOT A LOT OF MONEY BUT.  IT IS SOMETHING THAT I THINK HOPEFULLY IS IS SOMETHING THAT CAN SOME FLEXIBILITY AND SUPPORT GOING FORWARD.  AND PRESIDENT ERICKSON AND COMMISSIONERS IT AS WE GET MORE REGULAR WITH OUR BUDGETING AND GET TO KNOW THE PROGRAMS THAT ARE AVAILABLE TO US OR WHICH FUNDS WE WANT TO BUILD IN THE FUTURE. IT IS NICE TO HAVE THAT FLEXIBILITY THAT IF THE SMALL BUSINESS DEVELOPMENT CENTER IDENTIFIES BLOOMINGTON AS AN OPPORTUNITY AREA WE CAN SUPPLEMENT THOSE FUNDS AND BE READY TO MOVE. WE DON'T HAVE TO WAIT UNTIL THE FOLLOWING YEAR SO YES THIS IS A CHANGE.  IT IS A LARGE INCREASE THIS YEAR BUT THIS INCREASE IS ALSO OF OUR LONG TERM RESPONSIBILITY IN OUR LONG TERM STRATEGIES OF BEING ABLE TO ACQUIRE SO WE CAN CONTROL SOME OF THE FUTURE DEVELOPMENT THAT HAPPENS HERE.  UNFORTUNATELY $1,000,000 DOESN'T GO VERY FAR IN ACQUIRING LAND ANYMORE BUT ALL RIGHT. SO PRESIDENT ERICKSON COMMISSIONERS, I JUST HAVE A FEW MORE SLIDES TIMELINE OF ACTION STEPS. AS I SAID, THIS IS A SIX STEP PROCESS TODAY WE ARE LOOKING FOR YOUR APPROVAL OF THE PRELIMINARY BUDGET AND LEVY AGAIN THIS SETS THE CEILING AND I SAY THAT THE MAXIMUM THAT WOULD HAVE BEEN ALLOWABLE THIS YEAR IS 3.2 MILLION AND SO 2.5 IS ABOUT 78% OF THAT SEPTEMBER 9TH THIS WILL GO TO CITY COUNCIL FOR PRELIMINARY LEVY APPROVAL SEPTEMBER 27TH OR REALLY BY THE END OF THE BUSINESS PERIOD OF THE MONTH.  WE PLAN TO HAVE THIS FILED WITH HENNEPIN COUNTY.  NOVEMBER 19TH WILL BE RETURNING TO YOU WITH OUR FINAL BUDGET AND LEVY AND THEN DECEMBER 16TH THE FINAL LEVY REQUEST GOES TO COUNCIL FOR APPROVAL AND THEN NEEDS  TO BE FILED WITH HENNEPIN COUNTY BY THE END OF THE YEAR AND.  SO THAT CONCLUDES MY PRESENTATION. I'M HAPPY TO TAKE QUESTIONS AND WE DO HAVE A SUGGESTED MOTION ON THE SCREEN. YEAH WELL THANK YOU AND THANK YOU MARY FOR YOU'RE GETTING USED TO YOUR NEW JOB OF GETTING ALL THESE NUMBERS PUT TOGETHER AND STUFF.  GET IN THERE.  YEAH WELL I THINK THAT WHEN ESPECIALLY WHEN I WAS CHIEF AND OUR SOURCES AT THE UNIVERSITY OF MINNESOTA I HAD NOT MUCH EXPERIENCE WITH FUND ACCOUNTING BEFORE THAT AND I IF ANYBODY WANTS TO CREATE A NIGHTMARE FOR SOMEBODY TO DEAL WITH, IT'S FUN ACCOUNTING THAT SEEMS TO DEFY ALL THE RULES BUT AT ANY RATE WE APPRECIATE YOU KEEPING IT ON THOSE THINGS AND AND YOUR TRANSITION SO QUESTIONS OR COMMENTS MR. PETERSON NOT SEEING ANY QUESTIONS ON SOME THESE WAIVING THEIR HAND I'LL LIKE TO MAKE A MOTION FANTASTIC I MOVE THAT WE ADOPT RESOLUTION AUTHORIZING A LEVY FOR THE YEAR 2025 PURSUANT TO MINNESOTA STATUTES SECTION FOUR 69.053 SUBDIVISION 4/2 MOTION MADE AND SECONDED ANY FURTHER DISCUSSION NOT ALL IN FAVOR OF MY SIGNATURE SAYING I I PROPOSED MOTION CURIOUS SIX ZERO AND PRESIDENT JERSEY COMMISSIONERS THERE ARE ACTUALLY TWO MOTIONS THAT YOU GET BOTH ON THE BUDGET AS WELL. SO COMMISSIONER YOU WANT TO BE ON A ROLL ON THE HONOR ROLL HERE YOUR SCREEN COMMISSIONER THE TOP TOP LINE YOU FOR THE TOP ONE. OKAY THEN I AM MR. PRESIDENT I MOVE THAT WE THE PORT AUTHORITY'S PRELIMINARY 2025 BUDGET FOR THE PORT AUTHORITY DEVELOPMENT AND GENERAL FUNDS SECOND THE MOTION MADE AND ANY FURTHER DISCUSSION ALL IN FAVOR OF LISTENING SAYING I I POST MOTION CARRIES SIX ZERO ARE WE DONE? YES.  WELL THEN I THINK WE CAN ADJOURN. THANK YOU VERY MUCH SIR