City of Minot

  • Regular MAGIC Fund Screening Committee Meeting
  • Friday, April 22, 2022 at 7:30 AM
  • City Council Chambers, City Hall (515 2nd Ave SW)
  • 857-4750
  • Agenda
1.

ROLL CALL

3.

SOURIS BASIN PLANNING COUNCIL REQUEST FOR FUNDING

SBPC is requesting an additional $2 million investment into the program, so we may continue assisting borrowers in the region to access the BND PACE and Flex PACE programs, as the BAF is the only source available currently, for a community match for the program. We propose these funds be used over a 3-year period. If we do not invest additional funds to replenish the program, we will have to put the program on hold until 2024-2025, when we begin receiving principal payments again.

5-Year Projections for current loan payoffs, beginning in 2024.