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Minot City Council debates language in Minot Area Chamber EDC contract | News, Sports, Jobs

jschramm@minotdailynews.com
The language in an agreement with the Minot Area Chamber EDC was a subject of debate for members of the Minot City Council Monday.
The council voted 5-2 to approve a professional services agreement with MACEDC that will provide the economic development organization with an additional $246,375 for the remainder of the year. In January, the council had approved a three-month agreement for $82,125 as a temporary measure while MACEDC completed its organizational phase.
The Minot Area Chamber of Commerce and Minot Area Development Corp. merged in January.
MACEDC also receives economic development funding from Ward County and member investors. Executive Director John MacMartin said the investor pool diminished somewhat last year due to COVID-19. ....

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MAGIC Fund enters 2021 with cash cushion | News, Sports, Jobs

Mar 3, 2021
Minot’s MAGIC Fund listed more than $10 million in assets at the end of 2020, although that includes some restricted funds and an outstanding loan that the city is in court to try to collect.
The Minot City Council received the report of the MAGIC Fund Screening Committee at its meeting Monday.
The $10 million in assets includes $750,000 committed to Souris Basin Planning Council for a business revolving loan fund and $24,341 remaining from $300,000 set aside for development of a communitywide branding strategy. It also included a $1 million overdue loan repayment from parking ramps developer Cypress Development.
The city terminated its agreement with Cypress in March 2018 after finding the developer in default on about $3.53 million, which included $1.75 million in loans, plus interest. ....

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State of the City | News, Sports, Jobs - Minot Daily News

jschramm@minotdailynews.com
Flood protection remains the biggest challenge for Minot on the 10th anniversary of its biggest disaster, but the city has shown its mettle for taking on challenges during a year defined by the COVID-19 pandemic.
That was the message of Mayor Shaun Sipma in delivering his State of the City Address virtually from Minot City Hall Tuesday.
“It’s hard to believe, but in 2021, it will mark the 10-year anniversary of the 2011 flood. It’s a disaster that is still fresh and raw in the minds and hearts of many in Minot and throughout the basin,” Sipma said. “We will take a moment this year to reflect not only on the physical, financial and spiritual devastation inflicted on our community that year but perhaps, more importantly, to remind ourselves of the progress that we’ve made on our ongoing recovery efforts. But in the years since the river receded from our city streets and our homes, we have worked with great resolve to reshape and r ....

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City approves contract extension for economic development | News, Sports, Jobs

Jan 22, 2021
The Minot City Council has approved a three-month contract extension with Minot Area Chamber EDC for the continuation of economic development services.
The extension is on a contract originally signed in February 2019 with Minot Area Development Corp., which has merged with the Chamber. That contract expired Dec. 31.
The vote was 6-1. Council member Paul Pitner said he looks forward to a better, longer term agreement with Minot Area Chamber EDC but cannot support extending the existing contract because the city hasn’t “gotten a bang for our buck.”
The contract runs until April 1 and includes three monthly payments of $27,375 to Minot Area Chamber EDC. ....

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New Minot Area Chamber EDC board elected | News, Sports, Jobs

Jan 19, 2021
The new Minot Area Chamber Economic Development Corporation elected board officers at its organizational meeting. Jonn Knecht of American Bank Center was selected to serve as the first chair for the new organization.
“It is an honor to be selected as the chair of the new organization. I’ve served on both the former Minot Area Chamber of Commerce and Minot Area Development Corporation boards and see many advantages in kicking off the year as one.” Knecht said. “It’s now time to roll up our sleeves and get to work. We owe it to the investors and members to look for ways to be as effective and efficient as one organization. I am looking forward to serving with the new board and the staff to serve our region.” ....

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