Tax-Exempt Review Committee - January 12, 2021 Minutes
TAX EXEMPT REVIEW COMMITTEE
Fargo, North Dakota
Special Meeting Tuesday, January 12, 2020
The Special meeting of the Tax Exempt Review Committee of the City of Fargo, North Dakota was held in the City Commission Room at City Hall at 1:00 p.m., Tuesday, January 12, 2020.
The committee members present or absent are:
Present: Dave Piepkorn, Mayor Tim Mahoney, Jessica Ebeling, Jim Buus John Cosgriff, Kent Costin, Bruce Grubb, Jim Gilmour, Mike Splonskowski, Jackie Gapp, Joe Raso
Absent: Levi Bachmeier, Erik Johnson
Commissioner Piepkorn called the meeting to order at 1:00 p.m.
New Industry Application by Midway Metals, LLC
Jim Gilmore stated the business is located just south of the Flying J. The information that was not available last meeting is at the bottom of page 2, the estimated value that would be exempt is $365,000, the annual amount of the tax exemption would be $5,331 each year for five years, a little over $26,000 for the exemption.
Ryan Aasheim explained that Erick Bachman and his family have an engineering background and have developed a patented gutter system designed for northern tier climates that keeps the ice and leaves out, to reduce clogging. Their target markets are the northern tier of the United Stated and Canada, Minneapolis-St. Paul is of particular interest to them. They were attracted to the Fargo area due to the a climate and economy, coupled with financing programs like Bank of North Dakota’s Pace Program. The jobs are expected to graduate their growth over the next few years as they establish their market presence, bring in more sales and more work, and there will be opportunities for expansion in the future. They are looking at utilizing some of the savings to put back into the company.
Bruce Grubb asked why the calculations on page 7 & 8 changed from last time.
Mike Splonskowski explained that not all the jobs had been counted and it was not counted as a start-up firm. At the last meeting they did confirm that it was a start-up, those two things changed the calculator overall points.
Jim Buus moved to grant the exemptions as applied for, John Cosgriff seconded. Motion carried.
Dave Peipkorn adjourned the meeting at 1:06 pm.