Heat. Heat. And so uh maybe we can I'll call the meeting to order. So, let me let me just say at the start of the meeting, we all want to extend our deepest sympathy to Cynthia Hunt on the loss of her husband. I mean I mean I I know just in talking with you mostly at meetings over the last several years, it's been difficult and you've just done a wonderful job of caring for him and letting him live the most active life he could. And so again, we just have the deepest sympathy for you. And uh it's very hard. I haven't lost his boss. Hope hope it doesn't happen for a while. >> I hope not either. >> But at any rate, it's just it's the kind of thing that it's life transitions. So at any rate, we just So let's just take a moment of silence for Cynthia. >> This meeting is being transcribed and summarized. Okay. >> Do we want to have the oath of office sent for >> Mr. Commissioner Busy? Mayor Busy. >> I'll I'll go slow. All right. All right. I, Tim Busy, >> I, Tim Busy, >> do solemnly swear >> do solemnly swear >> that I will support the Constitution of the United States >> that I will support the Constitution of the United States >> and of the state of Minnesota >> and of the state of Minnesota >> and faithfully discharge the duties of the office of port authority >> and faithfully discharge the duties of the office of port authority >> of the city of Bloomington >> of the city of Bloomington >> in the county of Henipin >> in the county of Henipin >> in state of Minnesota >> in the state of Minnesota >> to the best of my judgment and ability >> to the best of my judgement ability. >> And then as as soon as Commissioner Nelson is on, we we will have to do a roll call. I don't know, but uh can can we just continue without roll calls until he comes on? All right. All right. Well, the the next item on the agenda then is on page four, the appointment of officers. This is an annual thing we do. So, we can entertain nominations for any individual positions or somebody can move the slate or >> I move that the slate from 2025 be moved forward in 2026. >> Do we have a second? >> Motion made and seconded. Any further discussion? If not, all in favor, please sign by saying I. >> I opposed. Motion carries 6. >> Congratulations. >> Thank you. >> All right. Uh, the next item on the agenda is the approval of Port Authority minutes. It's on page five. So, I entertain a motion for their approval. >> Motion made by Commissioner Hunt. Do we have a second? >> Second. >> Second by Commissioner Busy. Any additions or corrections? If not, all in favor, please sign by saying I. I. >> I. Opposed. Motion carries. 6. Then we get down to consent business. And I was so happy when we had this agenda that we can do a consent instead of having to approve each one individually. And especially I thought if with Commissioner Nelson being remote, we would have had to have, you know, all these roll call votes every time. So and go ahead >> just briefly. >> Yeah. >> Yes. And I just wanted to make a brief correction to the consent agenda item 3.5. We had originally published um approve appointment of bond council specifically naming Julie Edington as our bond counsel at QAC Rock. She has since made an announcement that she will be retiring at the end of February. So, we've removed her name from the item and we are going to be continuing with QTAC Rock as our bond council. We are likely to work with Gina Fiorini who's our special counsel, but may work with other attorneys as well. So, I just wanted to make sure that was clear to you all in what you're approving. >> And I think the other thing that we have with respect to the consent items is for as many years as I can remember, Commissioner Hunt has had to recuse herself on bank depositories. But I think now you are probably >> I'm just fine. >> You're just fine. So if what we have is uh if people are comfortable uh we've got items 3.1 through 3.8 on the consent agenda tonight. If anyone wishes to request an exception to hold over a consent item from this agenda, please let me know. Otherwise, uh >> Mr. President, I move that we adopt the consent items 3.1 through 3.8. >> Thank you. Do we have a second? >> Second. >> A motion made by Commissioner Peterson, seconded by Commissioner Busy. Uh, any further discussion? If not, all in favor, please sign by saying I. >> I. Opposed. Motion carries. 6. Okay. Um, the next item then is the acknowledgement of financial policies, page 14. I guess that takes a separate motion. Yep. So on page 14, we just we have the policies listed there. And I guess we have people here that if anybody wants to discuss any of the financial policies, we can. Otherwise, I would entertain the motion on on page 14. I mean, wasn't this part of Mr. President? I believe that part of the >> Yeah. Okay. I'm looked down. I'm I apologize. Uh I should have gone down item four and uh so we can simplify life. Um so item 4.1, American Square TIFF plan amendment. Oh, >> Kevin. >> Good evening, President Ericson, Mayor Busy, and commissioners. Uh, we have a presentation we're just going to pull up here, but this item is for a modification for the American Square Tiff Plan. So, this is a housing tax increment financing plan that was originally approved in August of 2020 for the American Square development project. And uh while we're pulling up this presentation, this plan was for a two-phaseed development project that included a market rate development which is now constructed called arter on the bluffs. And bear with me just one second here. There we go. and a second phase which was planned to be the Quinn which was a 86 unit 100% affordable apartment building as well as a separate uh parking ramp that would be constructed on the southern portion of the TIFF district. However, the pandemic impacted the development timelines for this district and so the arter was not constructed and completed until July of 2024 and the Quinn never moved forward. Uh part of the reason for that is the property that that development was to take place on was or is privately owned and the developer was not able to negotiate terms for its acquisition. So since then the developer has looked at a alternate option to devel or to develop the um senior affordable housing development and in December of 2025 they approached staff after having acquired two parcels which are the parcels in blue on this slide. This is the proposed expansion or modification for the TIFF district and those parcels contain the Riverview office tower and the Riverview office tower parking ramp. The proposal would be to convert five floors of Riverview Tower into 75 units of senior affordable apartments, same AMI levels, uh but it would be specifically for senior apartments with construction slated to start in 2027. So depicted here is the first phase which as I mentioned was completed in July of 2024. So this is arter on the bluffs. This is the 235 unit market rate apartment. So this is generating tax increment that would help provide subsidy if approved for the affordable building. And then the next slide shows in the background of that image riverview office tower. And then this is a floor plate that shows uh a general plan. This is likely subject to change of uh the layout of the units. So there's a proposal to have approximately 15 units per floor. So a total of 75 units >> that would be converted to affordable apartments. And why do we have a tiff plan? So the tiff plan itself provides the statutory authorization to actually utilize the tax increment financing as well as uh providing for the the district boundaries and the project area itself. And then it also outlines how the increment would be used. So in this case for affordable housing and it the important thing to note is that it is not actually committing to providing financial assistance to the project at this point. So, this is really the authority to provide tiff assistance. However, we're still in at a point where we're negotiating the terms of the development agreement with the developer. And the reason we're bringing it before you today is because we are nearing a five-year rule where we can no longer expand or expand the district boundaries. And so, that deadline is March 16th of this year. So the plan would be, if approved, to expand the district boundaries to allow for inclusion of these parcels, negotiate the terms of financial assistance if needed for the development, and come back to this body at a later date. In addition to um th those items, we have to determine that the district meets housing tiff district requirements. So that's having a minimum percentage of units that are affordable to households at 60% of area median income. In this case, this project would exceed it as currently proposed. Uh one thing I want to note is that we can't provide financial assistance to more than 20% of the square footage of a building that consists of commercial, retail, or other non-residential uses. So part of what we're working through is um negotiating with the developer. they would have to change the legal structure or ownership structure of the building to allow us to be in compliance with that rule. And then the income limitations of the rental units would last for the duration of the district, which in this case is through 2049. And then uh in order to approve the tiff district, so these are the findings that were initially made in August of 2020, but I want to reiterate them here. We have to meet the butt for test. So that's the development would not occur but for the financial assistance the plan itself um is consistent with the development of the city as a whole and maximizes its opportunity for development and then it qualifies as a housing tiff district and as I mentioned we're still working through what due diligence um would be required from the developer to determine the substain need and determine the form that that subsidy would be provided and in what amounts. Uh based on our evaluation, there is gap that is driven by the reduction in the amount of rent that would be received from the affordable units that would demonstrate subsidy, but we're still determining what those final amounts would be. And the staff is proposing that any assistance that's provided to this project would be through what is called a pay as you go note. So that is where we provide a note to provide the assistance from future tiff receipts and the developers take on the risk upfront and then any development agreement would be subject to that and future approvals of this body. And with that I've got the motion before you and we'll stand for questions. I think our municipal adviser Michaela Hwitt with Baker Tilly may also be available on the phone for questions as well. What I'm wondering is if we want to just suspend discussion of this so that we can administer the oath of office to Commissioner Nelson. >> Yes, I can step back. >> That way he that that way he illegally can vote on whatever comes up. >> Well, you're you're the second one that's made a comment about his his satorial splendor. So or hair Good to see you. >> Good to see you. How are you? >> I'm good. >> Raise your right hand. >> All right. I, Sean Nelson, >> I, Sean Nelson, >> do solemnly swear >> do solemnly swear >> that I will support the Constitution of the United States >> that I will support the Constitution of the United States >> and the state of Minnesota >> and the state of Minnesota >> and faithfully discharge the duties of the office of port authority >> and faithfully discharge the duties of the office of the port administration >> port authority >> of Bloomington >> of the city of Bloomington >> in the >> of the city of Bloomington. Sorry. in the county of Henipin >> in the county of Henipin >> and state of Minnesota >> in the state of Minnesota >> to the best of my judgment and ability >> to the best of my judgment and ability. And and now, Commissioner Nelson, that you've done that, we have to ask you, are you going to make the same bold declaration that you had, I think, the last meeting when you were first sworn in, the first meeting you were at, >> we we made you temporary >> chair or something and you said, you know, here I'm coming in and I'm running the authority. So, >> only only uh President Ericson, if you want to step out. So, it's not up to me. I just >> got all that. Am I still treasurer? >> Yes, you are. >> Okay. >> Oh, I'm sorry. You're secretary. >> Secretary still. >> You got voted in. >> I'll keep good notes. >> All right. Okay. All right. Kevin, can we go back to >> So, yes. Anybody have any questions? I mean, I think all you're trying to do here is just create options. I mean everything is is coming back and and again Commissioner Hunt. >> So the building may on there the building is 12 stories >> I believe the building is actually 15 stories. >> 15 stories. >> Yes 15 >> correct 15 stories. >> Okay. the five stories are they have they said where they're going to be lower or upper or >> at this point we're still negotiating the terms so we haven't determined where within the building they would be placed >> my my contention when we first this was first approved and I think it was shared by another member too was that this is such prime real estate I mean the office market doesn't support it right now there or the building itself as it is doesn't support that but for multifamily family. That's pretty prime location. It could be getting top dollar for the upper floors. So, just kind of curious whether the developer or they're kind of feeling locked in because of phase one, phase two, but what consideration for maybe not right there for the affordable housing. Um, the other question, what's happening with the other one, the big underground or big hole? Um, apple six was it? Six apple tree. >> Six apple tree. >> You're just going to leave it like that for a while or >> uh commissioners uh commissioner hunt. So I believe the first question was um regarding the placement within the building and um whether or not that would be a consideration in the rents. At this point we're very preliminarily negotiating with the developer the terms. So, they recently just acquired the building in December and then approached city staff and said, "We know the TIFF district is expiring. Uh, here's a potential option that would allow us to develop the affordable apartments." >> Um, and we're just in initial conversations about what that would look like. So, there are future steps that need to take place. So, I don't have an answer for that right now, but we will certainly take that into consideration. And then the second question about six apple tree square. So that's the property that is privately owned that they were not able to negotiate terms of acquisition. So my understanding at least as of right now is that property would remain uh in its current form. So it's a a parking lot. >> However, um if the budget allowed for it within the tiff plan, we could consider um providing subsidy if needed for future housing development on that site if in the future they were able to negotiate some terms of agreement. Thank you, >> Commissioner L. >> I was very pleased to see this come about. It's very creative and it avoids a problem for me because I just was never on the Quinn project on that site on the River Bluff. I never thought in any way, shape, or form that was the highest and best use or application for that piece of ground. So, I think this is just terrific. I'm uh and I I'm going to be voting for it and I just wanted to comment on that. Is there any discussion? Have there been any discussions then on what the Quinn site, the original Quinn site, the original phase 2 site, uh what kind of housing would be put on there? Because I'm all for affordable housing, but that's not the right place for it. It just isn't. And so, uh is there been discussions? Is there market housing going there? There are what >> uh commissioners commissioner ls at this point given that the site is privately owned by another entity that is not associated with the developer and they weren't able to come to an agreement. We haven't had additional conversations about what could happen there. >> I'm going look is that the hole she referred to as the hole. >> Correct. I've never referred to it as the hole, so wasn't quite sure what you were talking about. It is a surface parking lot, but it's just >> in appearance-wise, it just looks like a >> big hole. >> I'm sorry to interrupt you. >> It's it's slightly below grade from so it slopes, so there is some challenges with the site and the location based on that. >> Um, so yes, >> it's right on the edge of the bluff and it's got potential a lot, I think. >> Yes. >> Well, I think Commissioner Hunt, since you've relocated to that area, you uh are probably most knowledgeable about it of anybody here on the fourth commission. Uh so Commissioner Busty. >> Thank you, Mr. President. Uh two questions. First, maybe I missed it in the in the uh discussion. Will the is is the parking ramp going to be rebuilt? >> Oh, great question, uh Mayor Busy and commissioners. So, the plan would be for the developer to rehabilitate the parking ramp. Uh we would not be proposing to provide any financial assistance for that, just to be clear. So, it would be restricted for the housing development. They own property throughout the area and so the plan would be for that ramp to be rehabilitated and then be utilized by multiple properties. >> Good. I'm I'm glad to hear that because that ramp is a disaster which we've all talked about over the years. Um the second question I had so the the schematic that you showed these are these are actual apartments. These are not single SRO's. Correct. >> Correct. >> These are individual apartments. Okay. That that's good to know. But it's I I appreciate the creative reuse of the uh of the office tower in this way. I think it's it's a good way to use it and uh I think it will it will be well received actually given the location and and given the size of the apartments I think so thank you solution >> since since you asked about the the appearance and or the functionality of the ramp are they changing the appearance of the the the tower itself like the shell of the tower >> commissioner Hunt >> I've also heard comments >> uh Similar to my response to your other question, it's really preliminary. Uh we have had a couple conversations on if they would change any appearance um if they would create openings for example or balconies. Uh at this point that's a possibility, but I I wouldn't want to commit to anything given where we are at the conversations. >> Any other questions, comments? Commissioner Lz. >> Yeah, I was just just curious question. Uh, I'm sure Kading never planned to end up with this kind of a solution. Have they ever done a major readaptive use like this before from some other commercial use of housing that you're aware of? >> Uh, Commissioner Lance, yes, they're working on a project in St. Paul. Uh, the Ecoab tower, is it what it was previously known as? So, the EcoAB tower. Uh, it's my understanding that's they're involved in that project. Yes. >> Great. >> Commissioner Ellison. Thank you. Apologize for being a little bit late. Um, can you um specifically tell me which property this is that that we're trying to add into the TIFF district? >> Commissioner Nelson uh or Council Member Nelson, the property that we would be adding would be two parcels. So, it'd be the Riverview office tower itself and then the ramp that is part of that tower. So, um, and I think I can go back to that slide. >> Yeah, thank you. I apologize. So, it would be the property that's in blue there. So, that's actually two parcels. It's somewhat hard to see here. The tower is towards the left hand side. And then you can see the parking structure is um on the right in the upper portion of that blue section. >> And then um my my other question is when we originally approved that there was the market rate and then there was the inloo fee that you talked about that would go towards the affordable housing. Um is there a change to those agreements? Uh, council member Nelson, in regard to the inloo fee that was paid by the developer, so they technically had two years to commit that to a development project. That time frame expired in August of this year. So, the city could technically elect to use that for another development project. It's not restricted to the affordable housing development here. the developer has asked that we would commit those funds to this project and that could be in the form of a grant. It could be in the form of a loan and so that would be part of what we would be discussing with them would be bringing back before or before you when we're bringing a financial proposal. >> Okay. And then last question, this is not a final decision. This is just allowing for flexibility between the city and the developer. Is that a fair characterization? >> Council member Nelson, that is a a good characterization here. It's uh expanding the district to provide the possibility of providing subsidy on these sites if we choose to do so. >> Okay. Thank you, >> Commissioner LZ. >> Just one more quick question. Who came up with the concept? Uh was it a result of their negotiating not their negotiations not proceeding like they thought or did staff come up with it or >> uh Commissioner LZ? Uh, I won't take credit, nor do I think any of our staff take credit for that. It's my understanding there were some conversations with the developer about this possibility in the past. Um, it was before my time here, so I don't know all the history there. However, they did approach staff with this particular idea. We we certainly thought it was a great idea just given the context of where the office market is um and the focus on conversion and the need for housing um and the the need to rehabilitate um the building and then also the fact that the ramp was dilapitated. So yes, >> any other questions, comments? We have a motion on page uh 18 of your package regarding this item. So I would entertain that motion. >> So moved. >> Commissioner Lunch moves. We have a second. >> Second. >> Motion by seconded by Commissioner Nelson. Any further discussion? If not, all in favor, please signify by saying I. I. >> Opposed. Motion carries 70. We then have the Small Business Assistance Grant Program. Oh, we're gonna have Barb. >> Good evening, President and Commissioners. So, this evening, you can go right to um the second slide, Mart. Uh so this evening uh we're here to ask uh seek approval to allocate up to $400,000 from the general fund of the port authority uh for the accelerated creation and deployment of a small business assistance uh grant program and authorization to enter into partner agreements for the administration of such a program. So a little bit of background uh for this program this evening. Uh we're all quite aware of uh current conditions that have been happening uh due to recent uh immigration enforcement actions. And so since 2025 to current and you can go ahead and advance. I can do it. It's not moving. There we go. Um, so we we're well aware of the immigration enforcement actions um and the negative uh impact that it's had on the metro area. Um, and farreaching outside the metro area for everyone, including small business operations. Um, including here in Bloomington, we've had businesses that have closed. Um and we also have businesses that have closed for a short period of time. Uh they have reduced workers, so they have reduced hours and um reduced uh income coming in uh revenues to pay their operational expenses. So just a couple of statistics of the recent uh immigration enforcement actions. Um each one of these is for the Twin Cities metro area. So looking at immigrants account for one in seven entrepreneurs and bring in 600 million in business income annually. Um and also those immigrant workers and and immigrant business owners generate 41 billion in economic output in Minnesota each year. So the initial reporting that's coming out is there has been a decrease in revenues u by between 50 and 100% in the affected areas which includes Bloomington. Some of these businesses have closed entirely. uh restaurants that are immigrant-owned and um primarily um service immigrant uh clientele uh have have been the worst hit. Um the restaurants have been greatly hit. So some of the actions that have been taken by staff, we do have intentional efforts to go out and do monthly business visits. Uh since this has occurred, we've increased this to weekly business visits. So over the past 3 weeks, we have visited over 30 businesses in person, talking to them, and of course some windshield time just uh observing businesses and whether they're open or not and what is happening at them. Um when we're out there, it's more about asking the business like how are you doing? Just want to stop in and check how you're doing. Uh how has this impacted your business? What are some of those uh impact stories? Uh, so when I go out there, I'm also going out there with one of our business advisors, um, excuse me, Heromi Yoki with NextStage. Um, another time we went out with Alan Estz. Um, he is Spanish speaking, so hitting some of the businesses, uh, so that there's uh, better for communication. Uh, we have handouts for housing and business related resources. And here's just a couple of comments. um a culturally owned market. Uh one of their staff was taken from their home in Egan. Um and other staff is staying at home. So the owner is working more hours. He showed me his phone with texts from customers. So he's driving orders to people's homes when he's able to do so. He was replacing his produce at that moment. Um all the produce from the previous week had gone bad because he didn't have customers in and wasn't able to stop his um produce orders from coming in. another uh restaurant that's immigrantowned. Um customers are down by over 50%. He said it was pretty much similar to the pandemic. Um and they've reduced their hours 2 to 8 uh Monday through Saturday when they were previously open for lunch. And there's many other stories for that. When we're looking at this for the small business assistance grant that we're proposing, uh this would be onetime grant funds up to $10,000 to cover two months rent or mortgage payments for a small business uh for eligible businesses. When we're looking at the rent or mortgage payment, we're looking uh and doing this up to 10,000, it spreads more equity and fairness uh for that payment as opposed to uh multiple things that they could use the money for and um also cutting down on that paperwork that staff uh is processing. The grants would be forprofit businesses with less than 50 employees to stick with our small businesses. These would be brickandmortar locations with foot traffic, retail uh examples would be restaurants, uh retail stores, salons, barber shops, nail shops. Uh the grants themselves would not be exempt. Uh they may be uh um taxable. Uh we're proposing that the rent be paid directly to the landlord. If they can prove that the rent's already been paid, then we can reimburse them for those monies. Um we're hoping that with it being um primarily for rent um that they're able to free up that funding for other costs that they have. Uh staff will manage the grant application process in partnership with NextStage. They are our lending partner and they're also our first point of contact with our agreement with Henipin County and the Elevate Henipin program. Um here's our short link for the grant. It's not open yet. Uh we anticipate opening it this February and we would keep it open for two months and process the applications on a rolling basis. Uh we're looking to do 200,000 to start up to 400,000 total. So when we're talking about these monies, here's our budget here. Uh so the port board in November of 2025 approved our 2026 budget. As part of that funding for the direct business assistance, 570,000 was allocated for these programs. And so you'll see off to the right here in bold, these are the dollars where we're um looking to pull those monies from May have questions on that. And so before you at at the dis you will see a draft uh form of the policy uh the grant program. It goes into much greater detail and as you move to page four and um this is a draft. Um you can see the program uh guidelines um goes into much greater uh depth of detail on what the eligible use of funds are ineligible uses, eligible businesses uh sort of the terms of the grant um and the application process and then at the bottom there some of the required documentation uh that we would be requesting um actually all that information would go to next stage as our partner for the underwriting for approval of those grants. And so with that, I will stand for questions. >> Well, I looking looking at the program, obviously, it's with the trauma that we've had and and all these things, it's I'm very happy that you've come up with some plan to do something. So, Commissioner Hut, you had a question. >> Thank you for the the information. How I've got a couple questions. How has the experience been with um Next Stage >> uh so far? >> Yeah. President, commissioners, Commissioner Hunt. Uh I I cannot um tell you how great it's been. So um in 2020 as part of the pandemic and putting a program together with a former partner that we had um that worked great at that time. Uh since then we've moved to Next Stage. um they have been extremely giving to go out into the community with me and the reporting and the followup. Just at the end of last year, we closed six loans in Bloomington. Um they've been a fantastic partner for uh programming and so how that works, uh Elevate Henipin started in December of 2020. So we partner as a community with Henipin County through that grant agreement that we have with them. We um have a first point of contact. So, as part of that agreement with Henipin County, we pay funding for our first point of contact partner and that's next stage. And so, that agreement, we have a two-year degree 2025 through 2026. >> Okay. Well, I haven't had a chance to digest the handout tonight. A couple of things that I liked hearing um was that you were out in the field and with them as a partner. One of the most valuable things I always found as a lender was being on site. Whether it was, you know, a half million dollar business, a $500 million business, or a, you know, $100,000 hundred million dollar project outstage, just going to see the property, meeting the people. So, I'm glad that you're doing that. I also like surprise visits and the windshield visits because you know especially you know some of the news we're hearing you just then see more um whether they are not they know you're visiting it's important what you see that visual and and what you get. So that's that's a really good thing. I liked hearing the payments going directly to a landlord, >> directly to a mortgage lender would be good um because you want to again to free up the other cash, but you want to know where that money is going. And that's the biggest thing. Where is the money going? How is it being documented? avoiding any chance for fraudulent activities which unfortunately our state's become known for but everything that we can lock down to where that money is going and really the other thing one of the hardest things as a lender I always found was removing the emotion you've got to go on the factual what's there can it support you know I had shareholders to deal with we have the city we have our due diligence and our funding and our fiduciary responsibilities but you empathy but making the decisions based on the factual and what you can see and gather and and that. So, um it's a nice program. Um it's a benefit to our our businesses. So, but with the air of okay, this is just not a free open ticket. It's there's legitimate things that we're looking for and and we want to be here to help. And >> thank you. And with that, with the paperwork that we're requiring, that's where we're going to put in some of those parameters that they've actually been affected. And we've learned a lot. Um, I actually worked on the 2020 program during the pandemic in putting that together. Um, and so we learned a lot through that process as well. >> Thank you, >> Commissioner Peterson. >> Thank you, Commissioner Lens. >> Um, you know, I like the fact that it's that it that kind of the documentation is based on existing sorts of things that you're already that you're already filing. So like kind of showing the decline in revenue based on the sales tax filing that you're having to do. So, we're piggybacking on other processes and not creating some new form or something that that people have to create have to go and kind of complete in order to do things. Um, I also think it's important to note is that we're we're setting a threshold of a 30% drop in gross revenue, which is a really big drop in gross revenue for a business. And so, it's it's pretty clear to me that somebody who kind of meets that bar is having a real severe problem with their business. Um, and so, um, combining those things together, making sure the money is going to the right place. Um, I think it's a good thing and I'm glad, you know, glad we're taking the experiences that we had during the pandemic and applying them here. Thank you. >> Thanks, Commissioner. >> Yeah, I Barb, I just I think they're more mechanical questions than anything. Um, the first sentence in the program partners intends to partner with Bloomington based I'm sorry. Yeah, Bloomington. Maybe I read this wrong. I What came to mind was Colonial Market, which has three locations. And how do we I mean, they're on Lake Street in North Minneapolis. I guess I was just wondering how you'd >> The money would just be available for the Bloomington location. >> That would be correct, Commissioner Lens. >> Okay. And then since we're already partnered, since the port's already partnered with the next stage, is this going to be a separate contract? It's just a mechanical separate contract or are you going to blend them together or something? >> Uh thank you for asking uh president and commissioners commissioner lens. Uh we will have a separate professional services agreement uh with next stage and the port authority. Part of that will be there will be a small amount of fees uh for issuing 1099s uh because there's a cost associated with that. Um, but there's uh if I I referred back to the paperwork in 2020 and the cost associated with that at that time was $1,500 and we process many more grants uh forgivable loans at that time than we will be doing this time. So it'll be a small fee, but yes, to do these additional services for us, we will do an agreement. And just to add to that too, um we also will have a grant agreement that will be signed by the applicant and the uh landlord that is receiving the funding. Um and the city of Bloomington as well, the port authority specifically. >> I see Commissioner Nelson. I see Commissioner Busy. >> Thank you, President. Um just a few questions here. Um just looking through the details on this um would there be a way I'm just going to give a hypothetical that say a landlord didn't get paid rent so they had a drop in revenue and the business that was leasing that didn't have the revenue to pay the lease that there could be a double dipping and how do we prevent that if we provide funding to the business so that they can pay the rent. How do we make sure that the owner the less seed doesn't the less sore doesn't also ask for money? Thank you for the question. I think I understood it. Um, we're aware that say for a particular strip mall, if there's an owner that owns that strip mall, there is a potential that they're going to receive multiple funding from the businesses um that will be going paying for that rent, but they will receive a 1099 for that funding. We're also putting something into the agreement, the grant agreement. Um, we haven't worked out the wording yet. I do have Kennedy and Graven here. Um, that um the the landlord cannot just like kick out the business either. Um, there there is some of going along with that lease and that contract. Uh, so we'll we'll put some suspenders into that for what that looks like. >> Yeah. Thank you. Because I do know a lot of um business owners own the building in a separate company. Yeah, think >> and could potentially have the same loss and ask for the money twice. And that that's my concern. >> If it if I could, I I note under ineligible businesses in the layout here, the last bullet says businesses that derive income from passive investments, businessto business transactions, real estate transactions, property rentals or property management, and so on. So, I think that probably covers it as an ineligible business. >> Thank you, Vice President. So, um, just a couple more things. Um, the the, uh, it's, uh, the dates are January 31st, uh, December through January 31st. I mean, we're at February 17th and we still have this ongoing and we don't know bluntly if if they're going to leave and and what it's going to be and all of that. Are those do those dates make sense? Second thing that I would say is there are businesses that do honestly have a 30% drop in the winter >> and and it would be very So I what I'm wondering about is this comparable period like it does that go back to let's say January to January or does it go to from December to January and November to because it would be very easy to say hey I I had a 30% % drop, but some companies have a 30% drop every winter because of whatever they do. >> Yeah. Or a rolling 12 month, something. >> Yeah. Or something like that. I just I just want to make sure we're really tight on these things. I I don't mean to get into too much minutia, but I just want to make sure we're tight on those. And then I do think that cutting it off at the uh January 31st may be somewhat problematic given this isn't done. Thank you, president and commissioners. I I I appreciate the comments, Commissioner Nelson. I will discuss that with Next Stage. Another part of the application itself is um the businesses do need to describe how the recent immigration enforcement has directly impacted their business operations and revenue. And I think um you know to Commissioner Hunt's uh comment as well um just doing some of these site visits um um having discussions, we've had a lot of discussions about this um and discussing with the Port Authority administrator. Some of these site visits we may have to do as part of the application process too is doing the site visits. >> Great. Thank you for that due diligence on it. Just want to make sure we get to the money we get as much money to the people that really need it as possible. Um and then my last question along those lines is there are other entities particularly the state of Minnesota that's looking at programs. Um what is our position or how are we looking at crossover? So if they got money from the state, could they also get money from the city? How would we how would we balance that if if they already had a funding source to help them through this um you know the this this situation? Um yeah, how would how do we balance those things if we're getting money from another source instead of multiplying those sources? >> Sure. President, commissioners, commissioner Nelson, uh we had that discussion as well. There are two funds that are available right now. the Minneapolis Foundation Fund um which we have headquartered businesses here in Bloomington that have contributed to that and the Salt Care Recovery Fund which is um specific for restaurants. Um both of those funds would be eligible for them uh as long as they meet the criteria. Our discussion is is that we don't care if they do get additional funding. As long as it is a Bloomington based business and they follow our uh parameters and elig eligibility, we'd like to give them the funding. If there's other discussion from the port board, we'd be happy to entertain that and and thoughts on that. >> A question. Do you want to Okay, go ahead. >> Go ahead. With only a two-month window, how is the information being disseminated to the businesses? I mean, I've heard a lot about the the boost on ground efforts that you're doing, which is great, but how do you know that you're reaching all the necessary businesses? >> Uh, president and commissioners, we don't I mean, it's with any program and anything that we do here in the business uh in our in our business community, there's no way of knowing whether we reach all the businesses. We don't um do business licensing here or anything equivalent that we would know that we've reached all businesses. Um we will continue to use our uh promotion that we have um and use our community partners. I know um we have a an email list that has 2500 emails on it for our business community, but it's also making flyers and boots on the ground. again uh in 2020 we had zero relationship with our business community and so we've been doing these efforts over the past 5 years um it's just going to be spreading the word as as much as we can. One of the things that we found in 2020 is the regular forms of communication that we might think might work our business community that's not how they get their information. Um everybody gets it in a different way. We have a lot of different cultures and different languages and so that face-toface contact is the biggest way to spread the word. Um, and looking at our eight priority commercial nodes that are the retail locations is a great start. >> Thank you, >> Commissioner Busy. >> Thank you, Mr. President. Uh, I I would agree with the sentiments of Commissioner Hunt here and Secretary Commissioner Nelson about um making sure that we have this as locked down as we possibly can. I think uh from a practical standpoint, but also from a uh a a a vision standpoint that it it looks as locked down and as uh as carefully administered as possible. I think that's very important and to make that known uh what we're doing and how we're doing and the the care that we're putting into it. I think also it's important to to stress that this is not new money. This is existing money and to reallocate this money in this way makes perfect sense. There's no sense in having a facade improvement program if there's not a business in play. So, I think it makes perfect sense to to bring this $400,000 in from other sources to to make this work. And again, to make that known because that will be misinterpreted, I think, by by some about where this money is coming from and and the folks who are going to be benefiting from it. Uh so, those are my comments. The one question I had again looking at the list of ineligible businesses, it does say something about uh corporate chains, multi-state chains, and franchises. Uh, am I correct in understanding most franchises are locally owned, are they not? I mean, our Papa John's is Yes, it's a national franchise, but it's owned by a local business owner. Is that correct? >> Uh, President, commissioners, uh, Commissioner Busy, yes, that could be correct. >> So, we might want to just look for ways to to mitigate that in some way. If it's if it's a a locallyowned franchise with someone being impacted, I think we we might want to consider adjusting the language in some way to make sure that we don't miss out on those Thank you. >> Thank you. >> I think Commissioner Hunt was making a point. You know, if there's multiple grants, part of the application process should be to ask them, are there other grants that they have received or expect to receive and things? Because what we're trying to do is to stretch this money as far as we can. And you know, we we we most of these people probably this money is not going to take and bring them above the line. But at the same point in time, I think it's it it's just good practice to to check and see what the aggregate that they're looking at getting and and again just make sure that happens. Other questions, comments. If not, we've got a motion on page 43 regarding this. This I would entertain. Mr. President, I would move to uh adopt a resolution approving the small business assistance grant program. Second. >> Okay, we have a motion made by Commissioner Busley, seconded by Commissioner Nelson. Any further discussion? If not, all in favor, please signify by saying I. >> I opposed. >> Motion carries 70. >> Thank you. >> Well, Barb, you know, I think one of the things that all the work that you've done and we've done with small businesses help us put this in place. So I mean again this is it's a very difficult time in that but I mean I again some of the work that has been done has prepared for this. So thank you for your efforts there and and and you know these are never easy and and your heart just goes out to these people. I mean I we we have cleaning service and they haven't come the last couple times because they're afraid to come out. It's just I mean terrible. So at any rate so thank you. >> Thank you. >> Thank you. Um, okay. Next item then is we're going to get some financials. >> Preliminary budget adjustments. >> Yep. Um, good evening. >> Yeah. Um, so we'll be taking a look at the 2025 preliminary financials and the budgets. Um, the numbers are still preliminary at this point. Um, so they could still be updated slightly as we work through closing out 2025. Um, do you have the presentation? >> Yes. >> Okay. >> Okay. Sounds good. Okay. Um, so we'll start looking with the general fund first. Um, so if we look at the 2025 current budget, >> Mary K, can you tell us what page we're on then? >> Oh, yeah. Um, page 50. >> Okay. Thank you. >> Okay. Um, so looking at the current budget, um, we had property taxes budget for 2.5 million. They came in slightly under budget at 22,454,000. Um we had other revenue of $300,000. This was a transfer back from the city. Um back in 2024, the port had transferred 300,000 for the construction of the small business center. Um but that was transferred back in 2025. So that was just a one-time transfer. Um there was a $35,000 grant from Henipin County for the PASD program which had not originally been budgeted. Um in relation to the Hatch Bloomington program, there was $50,000 of contributions from Sterns Bank and Bloomington Travel and Tourism. And then there was also $30,188 of interest income. So the total budgeted revenue was 2,850,000 and actual was 2,869,000. Um looking at expenses overall the total budget expenses was 2,196,000. The actual was quite a bit less at 1,351,000. Um the one area that was over budget was salaries, wages and benefits. Um and that's related to the allocation of salaries. Um we start the salary allocations budget in May of like 2024 and we had estimated a little bit more going towards the tiff funds. Um but less was billable to tiff and more got built to the general fund. So salaries was over budget by just under 82,000. Um all the other categories were under budget. Um there was 300,000 budgeted for the small business center which didn't go through. Um the other big ones were um Hash Bloomington which was awarded in 2025 but the will not be paid out until 2026 as the um business is built out. Um there was also the retention program for 90,000 which was not spent. um the facade program um underspent by about 102,000 and commercial nodes did not spend any of their budget this year either. Um so overall um we had planned for a surplus of 653,000. The actual surplus was 1,518,000 and so the preliminary ending fund balance is 1,942,000 for the fund. And so we are asking for a couple of budget adjustments. Um the first is the $35,000 grant we got from Henipin County. Um we are requesting adjustment to increase the revenue and the expense for the facade program for that 35,000. And then also asking to reallocate some of the unspent budget for the small business center to the salaries. And then we are also asking um to carry forward some of the unspent budget. Um new in 2026 there um we are looking to add a work study intern from the University of St. promise, which would be an additional 18,000 um for the wages for 2026. Um we are requesting that the unspent money for the facade program um be rolled over into 2026 and same for the business retention program. Um we're requesting that that 90,000 be rolled forward and then also the Hatch Bloomington um budget of 100,000. Um, the contract with Bookmother was signed in January of this year, so that will start to get paid out relatively soon. And if we go to page 51, um this is just showing the 2026 current budget and then showing what it would look like if we added the carryover amounts for the work study intern, the facade program, the business retention program, and the Hatch Bloomington. >> So Mary K, all all the adjustments and things that you're referring to in the motion are really on page 50. >> Yep. 50 and 51 because we would also be adjusting the 2026 budget because we would take some of the unspent 2025 budget and roll it forward into 2026. Um, so the adjustments you see on page 51 for the 2026 budgets is basically the reduction removing it from 2025 to 2026. >> Well, it's interesting to look at these. For so many years, we had a general fund budget of about $50,000 and now we're dealing with a little bit more because of the the levy and things. But, uh, any questions for Mary Kay on these? I think they're all Mr. Nelson. >> Yeah, thank you, President. Um, >> should I say Secretary Nelson? >> Yeah, thank you. Appreciate the upgrade or whatever it is. Um, so my question is related to the specific programs, the facade, the retention. Um, is the reason that we didn't spend that money a lack of demand or a lack of our ability to get the money out the door? Are there pending applications? I guess that's the biggest thing. Are there pending applications already that we just need to fund or do we just not have enough people sign up for it? >> Yeah. Um the facade program in particular is very popular and I know there are pending applications for that. Um it takes a while to go through the application process and they have to um do the work before they get reimbursed. So it does take a while to move through the process. Um, but I know Barb has quite a few of those in. >> Okay. And I appreciate it. And the reason I ask is in general, I'm not a big fan of just rolling it over because we didn't spend it. Um, but if we didn't spend it just because it's still working through the process, then I can be okay with it. And I just want to make sure that that is the situation, not just that, we didn't spend it. we'd like to just keep it in our budget so we could use it for some >> Thank you, President uh Commissioners and Commissioner Nelson. So, uh the program has run for two years so far, 2024 and 2025. At the time that we approve the funding for the applicant, they sign a grant agreement and they have 12 months to complete the work and to submit receipts to us and reimburse them. So we have completed all of them for 2024. In 2025, all of 2025 will be completed in 2026. >> So this is just a timing issue. >> Okay. Thank you. Appreciate the clarification. >> Other questions, comments? Go ahead, Mary Kay with more presentation or >> um yeah, just on page 52, it has the South Loop Special Revenue Fund. Um, and this is what used to be our general fund a couple of years ago before operations went citywide. So this is just specific to South Loop. Um, so the budget revenues was $894,000 which is a transfer in from the city's South Loop fund. Um, because expenses are so far under budget, we only transferred in 750,000. So we didn't need the full transfer. Um there was interest income of 5,490. Um but all the categories here were under budget. Um salaries were pretty close about 12,000 13,000 under budget. Um material supplies and services was under budget by 104,000. That was mostly professional services that we had planned um partly for the water park and just other professional services that we didn't need. Um and then support services was close to budget. Um yeah, so this fund no budget adjustment request. Um pretty close to budget. >> Great. Questions for Mary Kay. If not, we have a motion on page 48 to approve the budget adjustments. I would entertain that motion. >> It's 54. Mr. >> Uh >> oh. I'm sorry. It's in both places. My apologies. >> Yeah, >> that that's that's the present. Well, okay. You you can do with whatever one you want. I think probably uh but would you looks like Commissioner Peterson's ready to spring. >> Uh thank you. So, just just one comment before I make the motion. I think the in general the um I'm I'm I'm supportive of um doing carryovers where the leaders have taken a look at things and said hey this makes sense to move it forward from a timing perspective. Um the concern I always have if you have have a policy we say we're not going to do carry forwards is that people get in kind of a use it and lose it mode and they're looking at the budget and they're saying hey >> there's some resources there and they go buy something or something like that on a perspective basis thinking that they that they're going to use it and I think it's >> as long as as long as we're looking carefully at things as we bring them forward and saying hey this makes sense like to the point that our esteemed secretary down here brought up uh that it's a timing thing, for example, that's a good thing to do. Um, but I I always think that it, you know, I I resist second-guessing things like this and saying we're not going to do carryovers because it we we'll never know if the money just gets spent, hey, we're going to go use it up and use it or lose it starts to take in into play because we don't get we don't get visibility of of kind of spending at that level at our level here. And so, um, so with that, I'll move that, um, that we approve the 2025 and 2026 budget adjustments for the Port Authority general fund. >> Do we have a second? >> Second. >> Second by Commissioner Nelson. Any further discussion? If not, all in favor, please sign by saying I. I. >> I. >> Oppos. Motion carries 70. >> Good. Thank you, M. K. >> All right. on to the work plan. Holly, are you going to speak? >> I am. Thank you, President. I've been sitting here. So, we have we have to we have to relish your thoughts. >> Yes. >> Not speak to us for a while. >> Yes. Well, thank you, President Ericson and commissioners. Um we have >> a work plan to present to you tonight. Um we will also have an annual report to present to you in March, but we're going to keep this one brief. And it should all look very familiar to you because when you approved our budget um you were basically approving our plans for the coming year. So that will be get put up on the screen shortly, but it is also in your packets. There we go. All right. And then Mart, I'm going to just have you advance the slides for me. Thank you. Next slide, please. I see it. All right. I always like to remind you of the basis that we are looking at this all from. Our mission which we adopted earlier last year is that the port authority cultivates community prosperity and quality development through bold vision and responsible public investments. we contribute to the growth and success of Bloomington's inclusive and resilient economy. And the port has grown along a lot in the last few years um especially since implementing a levy and moving citywide. We now have four distinct groups doing work here including real estate and development, business assistance, workforce development, and creative placemaking. And then we do our work also in support of the city's Bloomington tomorrow together priorities of a connected and welcoming community and a community with equitable economic growth. Next slide, please. And so as we looked at our 2026 work plan, we wanted to make sure we had some guiding principles. One is simply to execute strategies and activities laid out in the economic development strategic plan. We all spent a lot of time together working on that and included a number of stakeholders in its creation. We have our four guiding principles and eight objectives with a number of strategies beneath them. And so we will continue to refer back to that throughout the year as we take on different projects. We also need to be responsive to market conditions, development inquiries, and community needs. What you just saw this evening was all responsive to development in well market conditions. we had to change what we were doing with that tiff plan. Um, community needs, we needed to change the grant funds that we were planning to offer to the community this year. And so the port will always in order to be of assistance to the development community or the business community continue to use that principle of being responsive. We of course want to be responsible stewards of public resources. If we are here to assist a business or a developer, we're going to use our buttfor tests and we are going to ask the types of questions you are asking this evening and then provide excellent customer service. I know that is a point of pride for the Port Authority staff in particular to really help the business community think of Bloomington as an excellent place to do business and we want to represent the city well. And so this this work plan is supported by the 2026 budget was which was approved by the port authority in 2025. Next slide please. So we'll go quickly through our four work areas. The first is real estate and development. Again this was what the port did exclusively for a very long time. Some of our themes and priorities are of course to be responsive to the market and development inquiries. We get a range of development inquiries, large and small. You would actually be very interested to hear some of them. I won't bring them up today, but making sure that we're giving everyone time, but also being very frank with developments that aren't going to work, so we don't waste anyone's time. Um, tourism projects in the South Loop area continue to come to us and be of interest. Um, they almost all have some sort of ask of the city, so we're vetting those carefully. and then the opportunity housing ordinance the port the port's work on our inclusionary zoning policy and you'll be hearing more about that in March of this year. We are going to start really digging into our commercial nodes redevelopment strategy and commercial nodes toolkit and that will be cross departmental work. You'll see some interesting collaboration from our creative placemaking team here as well as planning and others in our community development team. And then they will continue this team their relationship building with activities like the broker breakfast um understanding and advocating for regional, state and federal funding for development. This team tends to be the one that works on grants with med counsel, the state um deed um and others or federal grants as well to help support businesses growing and expanding here. And then we will assist with business expansion requests and there are a number of operational improvements that this team is working on including cleaning up our own grant process and our files. Um, we've had and you know when you have several one person running things for a long time, they get in their their rut and we're moving things around. So, we're trying to make make the move to SharePoint. I know it's very exciting. Okay, next slide, please. All right, business assistance. And then, um, I also put business retention, expansion, and attraction. So, when we talk about business assistance, we're typically talking about Barb's team working a lot with small businesses. the BRE work tends to happen um at a larger scale, but really we're all in the port doing business assistance. So, some of our priorities this year include always customer service and you'll see this again, responsive programming. If the community needs a fast grant program, we are going to get it done. And then partnership cultivation. We are constantly working with Nextstage, Greater MSP, DED, the Minnesota Trade Office, etc. We don't do this work alone. Henipin County is a great partner of ours and so making sure we're in constant contact with those partners to make sure we understand all the programs available and who to call if a business needs something. We are going to start some new programs um the Bloom and Grow program which will be a networking and technical assistance program here. CEO roundt mentorship program and then we'll be working with finance on their pursuit of a local purchasing program. You'll hear more about that later in the year. We had Evan here. um couple of months ago to talk about that as well. We will also you just saw the small business assistance grant and then we're working on sack grants and deferrals for the city sack program and other potential loan programs as time goes on. We'll continue our elevate henipin referrals. Um we have programs at the zati center and with other partners Hatch Bloomington though I'll have an announcement about how we're going to look at delaying that in a little bit. CEO Start and CEO Boot Camp, which are technical assistance programs, and then Bloomington economic partnership, which is started out as the workforce partnership, and now we do quarterly projects and topics with a group of large employers, higher ed institutions, and economic development partners. We will continue our facade improvement grants and our business retention program, as well as our annual business forum, which started last year, and our CEO summits. And then we'll be working with communications, deed, the trade office, greater MSP to promote Bloomington as a place to do business. And that could range from doing close to home videos to sending Mayor Busy to Germany to talk about Bloomington. So, um, that's a wide range of promotion that we do. And then in our operations here, we are implementing the CRM, which you learned about, I think, in December. Next slide, please. Workforce development. That's one of our newest areas. We um made Warson's position permanent over the last year. And then we are she's going to be working on streamlining the Bloom and Bloomington internship program, which is our youth internship program places Bloomington young people with Bloomington employers. She is also going to be spending time on expanding our workforce development ecosystem and connections. So really understanding what we are finding to be a very complicated world of workforce development um between the state, the county, nonprofits and many other partners. There are a lot of people who work in this space and so we want to be able to when a business calls us and asks us questions be able to say talk to Warson. She knows all of these people. She can help you get to what you need faster. Um, we will be starting a Bloom a communications calendar for the Bloom program that can be repeated from year to year. We are lucky that we received a deed youth at work grant this year, but that also requires significant compliance and will take some time to work on. And then we'll be continuing our workforce development networking. And then um, another project that we would love everyone's help with all the time is recruiting external employers into the Bloom program. Next slide, please. And in creative placemaking, um, and Alejandra will be here next month to present her work plan in greater depth so you can see more about the projects. I know her presentations tend to be more visual, so um, I'm sorry to miss it, but she will be working on implementing the citywide creative placemaking plan that was approved in 2025. And a theme of them for this year is to really build partner capacity to expand programming reach. Now that they have gone citywide, they still only have two staff. So there's a limit to what they can accomplish in any given year. So they're really trying to work with partners to teach them how to do what they do. They will be working on a community health and wellness center mural, Pond Dakota Mission, Park Sculpture, um planning for activation of a vacant lot to the south of Sik, and then an updated arts impact study and an arts space feasibility study. more to come, but that's about artist housing and we're very excited to have that internal collaboration in the port to look at that. And then they will continue to be working on Bryant Park's sculpture um that will be made of stone. It's very cool if you haven't seen it yet. And then um participating in events and they will also be working on operational improvements alongside us including that wonderful migration to SharePoint. Um, next slide. And in the administration part, um, we'll continue I I will continue to support the different port work groups and call upon you and other partners in the community to assist us. Um, we'll be updating a lot of our internal port policies as the city updates policies. We're a component unit of the city, but we do need to match the city's policies. So whether that's professional development, travel, um, public purpose expenditure policies, etc. Um, ADA compliance is a big one for this year or digital ADA compliance actually. And then we will continue building our business community relationships. That's certainly something we all do in the port and we invite you to do too. If you hear of a business moving in and you want us to make contact with them, we want to know about it. You're never bothering us. So, we're always trying to proactively build those relationships. We are improving our data tracking and reporting. You saw our large employer database that Allan started building out a few months ago and we're continuing to stay on top of that. She's also part of a team at Greater MSP that's looking at regional economic indicators and you'll be hearing about that next month as well. We continue to engage in legislative efforts tracking tiff legislation and moving our own agendas forward as we need to in economic development and then always our own operational improvements. in the same vein as the other work groups. Next slide, please. And with that, I will happily take your questions um before putting out this motion to approve the work plan. >> Questions for our administrator. >> Gee, how long everybody is? Commissioner Nelson, nothing. I mean, as secretary, I would think you'd have some. >> Okay. >> I can come up with questions if you want. Trust me. >> You while you're away. >> Oh, I I can answer that for you if you'd like. Um, Commissioner Lens and Commissioners, I was going to save that for my administrator updates. >> Oh. >> Um, but I'm happy to. No, no, no. Why why why do we have the motion that we have that? So, >> uh I would entertain the motion on page 55 of your package to approve the 2026 port authority work plan. >> Second. >> We have a motion. Was it Commissioner Nelson? Yes. >> Seconded by Commissioner Busy. Any further discussion? Not all in favor, please sign by saying I. I opposed. Motion carries 70. Okay, Holly. >> Okay. Well, on to our last item of the evening. Thank you, President Ericson and commissioners. Um, first a few dates to note. The next CEO roundt is February 26th. Um, the mayor hosts those with some of our largest employers. We usually invite about 20 of our largest employers and they have a pretty free flowing discussion. Um, and so we're excited to see that that's become quite popular and they're looking to meet almost quarterly at this point. So, >> that's great. Yeah, that's been Do you have any comments you'd like to make about that, Mayor? >> I I agree. It it is it's an interesting free flowing discussion. It's um I think a discussion that can only be had when CEOs of big companies get together. I mean, it's interesting the perspectives that they share and the opportunity that they have to to uh talk just about uh a variety of different topics. It's it's uh it's interesting to be a fly on the wall and just to sit and listen to them. Uh so definitely worthwhile and I think we've seen some definite uh benefits to it. >> Great. All right. March 10th you'll be you have been invited to a concurrent meeting. Um there we're not voting on anything at this meeting. So we don't technically need quorum but we'd still like to know if you're going to be there. Um please RSVP tomorrow. The two topics are the comprehensive plan and that's the one that's required of Met Council. And so the planning team will be kicking that off. And we're actually going to have an economic development chapter for the very first time. And so we welcome you to be there, learn about it, and share your ideas back with us as to what should be included. And then an opportunity housing ordinance update um about the recently completed nexus study. So looking at the market demand for affordable housing here and how our policy should match it. So, please tell MART if you're going to be there or not be there. Um, mostly for seating because it's actually going to be concurrent with the HA, the city council, the port and the sustainability commission and planning. So, there will be a lot of people here. >> Um, all right. And then in March, you'll have your regular port meeting and you're going to get I actually mentioned several things that you'll you'll be hearing, so I'm not going to dig much into that. And then um on March 24th, you should have been invited to the 700 American ribbon cutting for the Rosalyn, which is a project that's been completed over by REI. >> All right. Um Hatch, I alluded to, we are looking to delay the launch by one month, if not longer. Um, we're hearing a sentiment that trying to encourage businesses to open with one singular large award is not what the community needs right this minute. It's more important to be supportive of the existing open businesses. So, we are currently focusing our our efforts on getting that small business assistance loan out and then we'll reassess what we do with Hatch over time. Okay. Any questions about that? And if I could just add from a calendaring standpoint, >> uh state of the city >> is uh Thursday, March 12th. >> Hope to see you all there. >> Missed that in my March dates. We'll forward that to you all. >> March 12th over lunch. Thanks. >> Very good. All right. And then I mentioned that the port's longtime attorney, Julie Edington, is retiring. Um, so if you I know some of you communicate with her regularly, so be sure to c congratulate her on her excellent career. Um, and then Gina Fiorini, we expect to be taking over our bond work, but it could be other attorneys at QC Rock as well. And then I will be starting parental leave late next week. So I'll be gone for three solid months. Um, and then phasing back in. And during that time, um, Kevin is Kevin Kane, assistant port authority administrator, will be leading the port meetings and will also be our liaison to the city council. So, um, Mar will continue to support, but if you have particular questions, you can direct them to Kevin or to Maritt. I'm going to be forwarding most of my communication to Maritt as well. So, just making sure that nothing falls through the cracks. Kim Bergrren will who is our community development director will be technically the acting port director. So for final sign off on contracts and um any major expenses she'll be taking care of that as well. And then Barb Wolf and Ali Pelanka as our other two supervisors in the port will be managing our internal meetings um supervisor meetings internal communications etc. So you are well taken care of while I am gone. Um and then I will be back in June. >> Well, Holly, we we really want to extend to you our sincere hope that the whole process of of bringing a new being in is smooth. And I mean that's probably an oxymoron because but at any rate uh we know that your your life is going to change and and uh we hope that you know you you you'll have a very unique period of time as you adjust to this new entity. So, and we just hope everything goes well and we will miss having you and uh again look forward to then we can celebrate your return and and maybe you can even uh bring the new addition along and show off. >> Okay. >> So, any other questions or comments? If not, >> your name's picked out. >> I I I asked her, "Do they know what it's boy or girl?" She said no. So >> there >> life doesn't have enough fun surprises. So this is a fun surprise. >> That's right. >> Well, that's great. >> Okay. Well, if nothing else, we're adjourned. >> Thank you all. >> Thank you.