00:00:00,000	the For meeting front. Vision fund meeting, I’ll call role. Or do I call? I will call roll for you. Happy to do that. Uh, committee member Stugelmeyer Schmitz. Yes, here, Petersen here. Thank you.

00:00:20,730	OK, first we’ll start out with item number one, approval of the meeting minutes from our March meeting. Do I open it to prove. OK. Is there a second? Uh, vote, is that what we do next? Yep, I will call Roll on that as well. Uh, committee member Schmitz. Yes. Stugelmeyer. Petersen. Yes. Thank you. OK, item number 2 is receiving the vision fund financial statements.

00:00:45,630	Dmitri, do you have a presentation or something today? I do, uh, chair Petersen, I have the Camera on here. Um, so I You got right, um, uh, members, uh, vision committee members, so, um, honestly, nothing’s really changed aside from the correction I had to make from um, last time, uh, regarding the additional project that was

00:01:12,630	approved, um, a month or two ago, uh, for the, uh, light spring. So that was added to the financials then what was done, uh, compared to what was done before.

00:01:33,630	So currently we have um 82300 $0 in, you know, in open in projects that are being open or paid down and then we have another 338,000 that need to be drawn down based on the approvals of the vision fun committee, um, based on the average amount of of of uh vision fun uh loan from the, from the city, which is about $134,000.

00:01:56,000	Um, there’s about maybe 6 more projects that you can do with that dollar amount, uh, considering they’re all about. There, uh, on average $134,000 so that’s what you see at the bottom there. Uh, nothing really significant changed.

00:02:33,730	Nothing really significant change from the on the income statement for the year for 2025 since the last time I presented, I will say, uh, put a caveat there that anything to do with professional consultants will be uh reimbursed by the sales tax fund, uh, as, as, um, budgeted for by the city commission, so that is the only thing that’s probably missing from this financial statement so just to point that out, um, And Does that You know, we, this is the first time we’ve ever kind of done it like that.

00:02:53,470	This, this is the first year of it, um, uh, and so we will, we will be doing that regularly. We just Again, it’s a kind of a new process for us, so probably on a quarterly basis, so probably by next, next time you see it, there’ll be some sort

00:03:07,400	of dollar amount there to replenish the, the expense. Um Uh, this is the list of our outstanding the detail of the notes receivable that are outstanding on the bottom you’ll see there are the, the two projects that were, that are still waiting to be drawn on, which is a superior precast

00:03:44,230	and Light Spring, um, obviously those haven’t been drawn on yet and Etai has withdrawn their request, so I listed on the that on there, but overall, that’s kind of the The gist of uh what’s going on in the vision fund. I’ll stand for any questions. Dmitri. I’m sorry. Go ahead.

00:04:07,100	Demetri, when is the Due date for venture. The venture and one. It’s not shown Or the anticipated due date. Uh, Mayor Schmidtz says on the On the repayment Yeah, uh, the repayment is due 7-1-2040 on the contract length from. That’s the, that’s the repayment date.

00:04:36,470	OK, well, I, I was just looking at the area that was highlighted in yellow, and there was no date in that. Yeah, for the start of the repayment. I don’t know that we have that information yet, so at least at the time I put this together. OK. If we can get that, I think it would be.

00:04:53,030	wise Or the anticipated start date. Yeah, I, I, I’ll have to talk to my staff to see if we have the documents that we need to put that in there. OK. Thanks. Yep, no problem.

00:05:11,370	Any other questions? on the to do How are those that I see I mean they’re for the most part all 0% but you see there. must have been 3% that says by being Dean Nathan. They So Um, Madam Chair, uh, member Stugelmeyer. Typically, the, the traditionally, the vision fund has set the rate at 2%.

00:05:39,100	So, uh, there’s, there’s a servicing fee that goes to Lewis and Clark Development Group that does the servicing and the underwriting, uh, on the, on the note itself and then the vision fund has uh traditionally charged a 1% rate. It’s always flexible by this committee and by the city commission. That’s just a recommendation that we’ve been, that we’ve provided and then we, we followed.

00:05:58,300	The reasoning behind the Cloverdale one at 0% is the city of Bismarck partnered with the city of Manan to provide the peace by down that we split it half and half between City of Mandan and City of Bismarck, and we followed the City of Mandan's, um, request, they, they provided their funding at 0% so

00:06:17,370	the vision fund matched the terms and conditions of the city of Mandan’s request. OK. Thanks, Nathan. Do we need a motion to Accept the statement financial report. Uh, it, I think if you have consensus, uh, motion be fine. Some old 2nd whatever. Uh, roll on the financial report, uh, committee member Stugelmeyer. Yes. Schmitz. Yes, Petersen. Yes.

00:07:06,530	Thank you. Hey, thank you, Dmitri. Item number 3, considering the application for Simply golden properties. Nathan, thank you, Madam Chair. Um, you have in front of you a request from uh Simply Golden Properties LLC. For the local match of the Flex Pece program from Macon, North Dakota and the maximum amount of $100,0287.20.

00:07:33,730	Simply golden Properties is the real estate holding company for the operating company that is, uh, simply you, uh, wellness. There’s representatives from the company here that will talk a little bit about the project. I won’t get into, uh, much about the project.

00:07:53,030	I’ll let them, uh, kind of talk that through, but essentially the, the financing is for the uh construction of a facility at um 5016 Oslo Lane, uh, in, in the Bowden development, um, up in along North Washington and Bismarck. This, uh, facility was essentially provide about 1.5 times the capacity that the, uh, that the company currently operates in.

00:08:16,030	Um, and we’ll allow them to uh increase capacity in terms of overall um uh services provided. Uh, you did, you were provided the uh scoring matrix uh in your packet, I believe so, right? You did, you did you get that? OK, good.

00:08:34,100	Um, and as you can see as part of that, uh, scoring matrix as you, as you’ll recall, we do this on all of the Flexpace Project requests, um, and as part of that scoring matrix, the project did score 14 out of 14. Again.

00:08:51,230	Just because the project scores high doesn’t mean that it’s an automatic yes just because the project score is low doesn’t mean it’s an automatic no, um, but it did score a 14 out of 14, mainly due to um the average annual wages of the proposed. Um Full-time employees to be hired and the number of full-time employees, um, projected to be hired um within the 1st 3 years of the project.

00:09:16,770	Um, you do have in the, in the application, you do have the uh proposed loan terms that that I proposed again, um, to, um, Uh, Comm Stuggelmeyer’s point, uh, earlier question earlier. Those are open to, to, um, whatever you all see fit, um, the Terms that I proposed is 2% rate, um, 60 months, uh, uh, uh, the payment to start. No. Term is 60.

00:09:45,200	Yeah, so the, the term of the loan will go for 60 months after the buydown is complete, um, You can see in the on the amortization schedule that was provided by Bank in North Dakota, the buydown period is set to um go for 51 months.

00:10:06,230	That’s when the maximum uh buydown amount will be reached, um, by Bank of North Dakota, so it will go for 51 months and then an additional 60 months. Uh, of repayment of PNI repayment after the buydown is complete. Um, something again that we typically leave up for a discussion or, or for you all to decide just a recommendation that I put in there just to a UCC security filing.

00:10:29,470	Um, on Simply Golden Properties, again, it’s a, it’s a real estate holding company. There’s not a lot of. Um, assets outside of the mortgage that that the company has, but we can certainly file that if you are Lewis and Clark can certainly file that if you’d like.

00:10:44,830	Um, and then a personal guarantee from the owner Tara Harding. Estimated closing date of the project currently set is um December of 2026. There’s, I think that should be about it if there’s any questions for me, I’m happy to answer.

00:11:07,300	Otherwise, I’ll turn it over to the Representatives from the project to Give you a little update on what’s happening with the project. Hi committee. I’m Tara Harding. I’m the owner of Simply You Wellness, um, my story is kind of fun of how it started. It started in my basement, um, in rural North Dakota.

00:11:32,000	I was living and working in Ashley and went through some of my own medical experience and saw a need for change and within my 1st 3 months of operation, I was licensed in 3 outside states, North Dakota, South Dakota, Minnesota.

00:11:49,470	Um, my practice quickly grew and within the first year I was renting space in Bismarck, driving up one day a week, um, and renting from a friend, fellow clinic owner. Um, to do in person and virtual outreach, um, about a year later, I realized I needed to be moving back to Bismarck and had a bigger calling than just being in my basement and so within that first year, um, I rebranded in that time as well. But I also expanded my service.

00:12:09,730	I had worked a rural healthcare family practice for a decade and was able to provide um full family practice for not just women at that point, it was just fertility in women, but I was able to provide for their whole family, their neighbors, their parents, and expand my service reach as well.

00:12:25,830	Um, I did go through the Goldman Sachs program, 10-K program, which was a huge, uh, pivotal moment for myself professionally, um, to learn and expand. I was scared to hire one person at that point of going through it, it was just me.

00:12:43,000	And I learned so much by going through that, that opportunity as well. Um, I graduated from that program, uh, December of 23 and was ready to hire my first provider January 2nd of 2024, I hired my first psychiatric mental health nurse practitioner. And within 13 months, I had 14 staff members underneath me.

00:13:02,270	We had significant growth within that time. I went from the 3rd floor Security First Bank to the 2nd floor, um, and I take up most of that 2nd floor, but we also grew our offerings at that time as well. There’s a need, um, every one of my providers is booked 6 or more weeks out.

00:13:19,670	Um, I have, um, contracted workers. I have part-time staff. I have full-time staff, uh, physicians. assistants, nurse practitioners, and MD on staff, um, as well, but it went from family practice to mental health needs, uh, fertility is my passion. It’s my personal experience as well, Women’s health, but we grew in men’s health, to pediatrics, um, hormone health.

00:13:43,030	We’re very innovative in our healthcare. Nobody else offers the level and type of um combination of healthcare that we offer in the region. We’ve also grown our states to Montana, Colorado. As of last night, 6. 3% of our patients are from outside of Bismarck.

00:14:01,900	So we pull a huge part of our business from outside, and we love that because, um, we love bringing people to here. I’m pretty active nationally as well, and um have some patience as well that are from other states that I coach and bring in as well. So all the application, you can see as well the number of girls.

00:14:21,570	So I’ve grown, again, that’s in 14 months, um, I could add a new provider every 3 months, but I have no space, um, this building allows me to not only expand providers but offerings of our services, TMS therapy is a huge mental health service.

00:14:41,930	We’re the only provider in the region, um, from here to Fargo offering this level of care that treats adolescents and adults. I can add more TMS therapy chairs in this new building. I can expand therapy services and other mental health services, but also fertility.

00:15:00,770	There’s no fertility clinics from Fargo to Billings, except for here within our practice that’s doing the level of fertility care that we’re doing. Um, from Fargo, there’s Minneapolis. We’re just talking, um, or before the meeting down to Denver. Most people go. I’m very connected to national providers in this space, and we have a lot of um people that come to us to start their treatment because of that as well.

00:15:17,730	Um, but the job creation is something that brings me joy. I, I, I can remember when I was scared to hire one person. So when I look at my 5 year projection is 25, um, it makes me excited to see that. I’m in the process, um, I work with a business consultant.

00:15:30,000	I don’t do this alone. I’m in the process as we speak. Hiring a um operations officer and manager, um, as well as bringing on I have space uh for a nurse to bring a nurse on. I’m, like I said, completely out of capacity. Um, from an in-person standpoint.

00:15:49,930	Um, so my full-time, um, Is 9, I have 3 part-time staff and then the projection again, um, for 3 years is to be 13 and I honestly think I’ll probably be able to reach that at a faster rate to get to 25 at the space that we’re at.

00:16:04,370	We did actually shift some things around already in the building and we’re gonna be adding more um exam rooms than we anticipated in that space. Um, the average salary of new jobs full time is 150,000 plus. That’s because they’re nurse practitioners, physicians, assistants, and then our part-time staff as well being, whether they’re a provider or a nurse, um, or assistants, that is the average part-time salary.

00:16:25,830	Um, so job creation, increased tax revenue, like I said, 63% of our patients do come from outside of Bismarck, um, Bost local job business as well. We, we know they’re, they’re utilizing local businesses and then of course improved um healthcare access that is located here in Bismarck, um, for fertility treatments, mental health therapy, TMS,

00:16:44,770	though TMS therapy, what I want to highlight that’s so important about that. There’s 36 treatments that those patients need, and if they’re coming from out of town, they’re staying overnight, they’re eating here cause they have to come every day, 5 days in a row for 36 treatments and

00:16:59,730	so it is, it’s a dedication and and we do have a lot of those patients currently coming from out of town, we’re able to be flexible. So again, just to get real technical if they can’t make it 5 days, that’s OK.

00:17:12,170	they can come to, so they’re still coming and um able to participate in that. So I could probably talk all day about business, but I’ll close with that and open it for any questions. Nathan mentioned a closing date. What’s the estimated start date of the project are hoping to dig by June.

00:17:35,000	Yeah Yep Where exactly is this going? Bowden Park, um, or Epic and Knutson is, yep. You hit on, um, talking about the TMS. So when those patients, when they come to Bismarck, they’ll stay here for 5 days.

00:17:56,770	How about some of the other services you provide outside of that, is it usually multi like are they staying 23 nights or how does that typically work? Yeah, they’re, they’ll for sure say one, like I’ve had people drive up the night before fertility treatment does involve overnight for sure, if not more, because they have to, those are very timed and we usually do them in the morning or they have to do a certain

00:18:12,370	procedure the evening before, so they’re having to come. overnight as well, um, and coming back unfortunately, if there’s failure multiple times. We unfortunately see that happen a lot where one, the chance of it working on the first unfortunately, statistically is not great.

00:18:29,530	So many of our patients are reoccurring and coming back more often. We do to answer a little bit further, we do hormone replacement therapy. A lot of our patient follow-ups if to maybe add to that is 3 months, 6 months, so they’re coming back pretty consistently, um, as much as I love telemedicine.

00:18:48,500	Patients want in person, and we’re seeing that we’re still obviously utilizing that, but they’ll, they’re, they come here, they drive, they come here, um, just today, I honestly, I did a little math, about 90% were from out of, out of Bismarck today, just that I saw. OK.

00:19:04,630	Thank you very much, um, just 11 other question I guess in in regards to the job creation and all and all that. So you said you’re currently at 14. Right now in the in the 3 year goal is 25. 5 year goals 25, yeah, yeah, I’ll probably. I’ll squeeze as many in there as I can get in. And I’ll build round two then if I have to.

00:19:24,300	Thank you very much thank you. Uh, if there are no other questions, you can certainly entertain emotion. There any other questions? I would move to approve as presented, this happens to be one of those projects that not only is generating some property value and wages inside the city of Bismarck, but it’s probably also going to increase our

00:20:01,730	attraction to people who do not live in the city of Bismarck and bring in other economic benefits. To me it’s It’s kind of one of those. Stories that’s really good. Is there a second? Yeah, I’ll second. OK, we take roll, please. Uh, the motion is to approve the project as presented, um, Mayor Schmittz.

00:20:25,730	Yes You remember Sigelmeyer? Yes. Petersen? Yes. OK, thank you. Thank you for coming. Item number 4, considering a request for extension from Superior Precast, Nathan, thank you, Madam Chair. Uh, you have in front of you a request from Superior Precast LLC, um, requesting a 6 month extension on the, on the Vision fun commitment.

00:20:57,370	So if you, for those uh Comm Stuggelmeyer who is new to the committee, um,

00:21:06,830	down, uh, to the Bank of Dakota on the construction of their facility down in South Bismarck kind of to the west of, of South Walmart down there. Um This is kind of a weird one because I didn’t know, I wasn’t sure how you guys wanted to handle this one.

00:21:25,500	They, they technically fell under the, the previous guidelines, or they were approved under the previous guidelines, which had an 18 month period to draw down funds, so they technically wouldn’t have needed uh an extension, but with the new guidelines, um, being 12 months, I, I wanted to make sure that we were, we, um, we, you know,

00:21:43,670	dotted all our I’s and crossed all our T’s. Um, this is a pretty um substantial construction project, complicated construction project, they just need a little bit more time with the construction, um, and in talking to the banker, it sounds like um really 6 months shouldn’t even be needed.

00:22:03,100	They figured by um more than likely June or July, they would be looking at. Um, advancing on it. Have they started construction Madam Chair, yes, yeah, they’re, they’re substantially through their construction. Yep, yep, yep. OK. motion to do it. I motion to approve. 0 seconds. Second. Committee member Stuggelmeyer, Schmitz. Yes. Petersen. Thank you, Nathan.

00:22:45,570	I think it’s See what’s going on Yeah. Thank you. OK. And I number 4, any other? Maybe just for the applicant, uh, it would be our intentions to forward this project to the city commission meeting for the first meeting in May.

00:23:09,570	Uh, and I’m just pulling up the calendar that would be Tuesday, May 13th, that we would see this on the City Commission agenda. It didn’t Jason on the Extension We need to that probably needs to go to the city Comm as well. Yes, Mayor, we would add that to the same agenda and do it as a consent agenda item. Yes. If that’s acceptable. OK.

00:23:35,370	That, that’s acceptable, not the other one, not the. Applicational that deserves. That the discussion on the agenda for the current project today. Thank you. Is