August 26, 2025 Minutes

ECONOMIC AND DEVELOPMENT INCENTIVE COMMITTEE
Fargo, North Dakota

Regular Meeting Tuesday, August 26, 2025

The August meeting of the Economic and Development Incentive Committee of the City of Fargo, North Dakota was held in the City Commission Room at City Hall at 1:00 p.m., Tuesday, August 26, 2025.

The committee members present or absent are:

Members Present: Dave Piepkorn, Mayor Mahoney, Lucas Paper, Matt Schlenvogt, John Cosgriff, Jon Eisert

Others Present: Jim Gilmour, Jackie Gapp, Michael Splonskowski

Others Absent: Levi Bachmeier, Erik Barner, Robert Wilson,

Commissioner Piepkorn called the meeting to order at 1:00 p.m.

Minutes Approved

A motion was made by John Cosgriff to approve the minutes from July 22, 2025. Lucas Paper seconded. Motion carries.

Bison Lodge PILOT Request

• 11th Avenue North and 17th Street North.
• 6-unit multi-family townhome development targeted toward NDSU students and local families.
o 3 bedroom and 3 bathroom units. Approximately 1,700 sq ft
o $2,800 a month per unit
• Estimated total project costs: $1,800,000. This project would start March 1, 2026 and finish August 1, 2027.
• Requesting PILOT incentive for 10 years (2026-2036)
o Years 1-5: 100% exemption on building improvements (land-only taxes paid)
o Years 6-10: 50% exemption on building improvements
• Wage Bands:
o 1 employee at $13.01-$15.00/hour (part-time)
o 1 employee at $20.01-$28.00/hour (full-time)
• Matt (PFM)
o Equity would be loan on life insurance policy from parents
o 4.2% internal rate of return without public assistance
o 8.5% internal rate of return with public assistance (New policy 7 years 100% PILOT)
o Looking for something between 10-15%
• Dave Pepkorn would like a flow chart or check list regarding PILOT requests finished before they come before the EDIC committee.

A motion was made to have further discussion about the Bison Lodge PILOT request after this project has been approved by other departments. Matt Schlenvogt approved. Lucas Paper seconded.

Commercial Redevelopment PILOT Request

• Policy for a commercial redevelopment to apply for a PILOT for up to 10 years
• Does not meet current policy but would offer:
o More desirable land use
o Create higher density and higher value buildings
o Mixed use developments with shared parking
o Opportunities for economic development
o Improved design and public amenities

• Project will wait for 1 year after the new policy has been revised and the new land development code has been agreed upon.

Central at the Horizon

• Proposal PILOT project.
• Originally asked for a low-income but this would not be low income according to Fargo rent. Would be market rate.
• $93 million
• 262 units
o $1,200 for 1 bedroom
o $1,600 for 3 bedroom
• Has not gone through a site plan review process and needs a “but-for” test
• Will be on the Renaissance Zone Authority agenda

Discussion will continue regarding the Central at the Horizon project.

The meeting was adjourned at 1:48 pm.