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From YouTube: June 7, 2022 Bloomington Port Authority Meeting
Description
June 7, 2022 Bloomington Minnesota Port Authority Meeting
A
And
we
have
a
quorum,
and
so
I
will
call
the
meeting
to
order.
The
first
item
that
we
have
on
the
agenda
is
the
approval
of
minutes
from
may
3rd
2022,
and
I
will
just
ask
everybody
before
we:
we
have
a
younger
bloomington
citizen
that
is
attending
here,
and
does
anybody
have
any
objections
to
having
her
sit
at
the
table
and
the
place?
I
I
thought
it.
A
A
D
D
A
A
A
A
F
A
E
Thank
you,
mr
president,
commissioners.
So
this
is
the
standard
bond
council
services
item
that
we
have
done
in
past
years.
Re-Upping
kennedy
engraven
as
the
as
the
ports
bond
council
and
I
know
julie
eddington,
is
on
the
line
from
kenny
and
graven.
If
there
are
questions
from
her
as
client
as
well
as
melissa
city
attorney
from
the
city's
side,
so
he
also
has
reaffirmed
kennedy
graven,
as
the
font
council
for
the
city.
A
G
A
A
E
E
I
won't
read
through
that
how
the
sick
project
fits
into
the
cell
through
plan
goals
and
the
sell
through
plan
is
going
to
be
receiving
an
update
here
in
the
next
18
months,
along
with
the
goals,
quick
history,
the
interstate
site,
the
city
acquired
that,
through
the
lawsuit
that
happened
for
the
acquisition
of
those
properties
for
the
north-south
runway
mac
owned
that
property.
The
city
was
part
of
that
lawsuit
was
named
in
the
lawsuit.
E
We
ended
up
with
these
four
parcels,
of
which
the
alpha,
a
and
b,
are
now
developed,
with
the
downplay
suites
and
ac
by
marriott,
and
the
interstate
and
alpha
5
parcel
have
been
partially
sold
to
sick
for
their
first
phase
and
we
have
a
development
contract
with
them
for
the
future
phases
which
I'll
detail
here
in
a
second
again
sick
as
a
technology
company
sick
is
the
name
of
the
the
patriarch
of
the
company.
That's
a
german
name
doesn't
translate
well
became
aware
of
them
through
the
foreign
trade
zone.
E
They
were
looking
for
exorbitant
20-acre
sites.
This
is
a
14-acre
site
and
it
only
works
for
them.
If
you
do
it
really
densely
and
make
the
parking
work
on
the
site,
which
leads
to
structured
parking
costs,
so
the
first
phase,
which
is
under
construction
now
and
almost
done,
they
will
move
into
that
facility.
In
august
of
this
year,
a
grand
opening
event
will
be
held
in
november
when
things
are
a
little
bit
more
established
on
site
and
stay
tuned
for
the
date
on
that.
E
The
second
phase
is
really
the
meat
of
the
project
it
brings
their
headquarters
to
their
production
and
logistics
facility.
This
is
150
000
square
foot,
multi-story
office
building,
phase
three
is
more
production
and
logistics
and
phase
four
in
the
future
is
another
hundred
two
hundred
and
fifty
thousand
square
foot
office
building,
and
so
this
first
phase
is
the
one
that's
being
built
right
now.
E
The
next
phase
here
this
is
what
we're
talking
about
here
tonight.
These
parking
ramp
and
the
phase
two
office
building
again
I'll
move
through
the
rest
of
the
phases
again
in
red,
is
what
we're
talking
about
tonight
and
the
yellow
are
future
phases.
That's
how
it
would
look
all
in
and
again
just
the
schedule
in
graphical
format,
they're
looking
at
starting
phase
two
in
the
spring
of
2023,
although
that's
not
certain
as
we
sit
here
today,
we
do
need
to
do
this.
E
E
Funding
for
that
public
investment
is
through
the
carlton
tif
district,
which
we've
almost
zeroed
that
fund
out,
but
the
intent
is
to
to
continue
draining
that
fund
until
it's
gone,
it's
from
the
old
carlton
tiff
district
and
we've
been
able
to
pool
that
money
throughout
the
throughout
the
area
for
projects
like
this
on
the
south
loop
development
fund
and
then
the
moa
arf.
This
is
the
unrestricted
funds
that
we
have
coming
off
of
the
malatif
district
that
we
consummated
in
the
2016
development
agreement
with
them.
E
I
won't
go
through
the
details,
one
I
just
I
left
this
slide
in
because
really
you
know
what's
happening
now,
with
construction
costs,
we'll
front
load,
some
of
our
public
investment
for
this
project
and
honestly,
whether
or
not
we
can
fulfill
every
single
parking
space
that
was
talked
about
in
the
original
development
agreement
is,
is
to
be
determined.
We
capped
our
our
funds
as
such
and
now
with
construction
costs
going
up
as
quickly
as
they
are.
E
Typically,
they
have
been
about
double
of
regular
inflation,
that's
true
before
the
pandemic,
and
unfortunately
it's
true
during
the
pandemic
as
well,
which
of
course,
is
you
know
if
regular
inflation
is
eight
or
nine
or
something
like
that.
You've
got
construction
inflation
and
in
the
high
teens,
and
you
do
that
over
two
years
you
really
start
to
see
high
costs,
but
just
as
a
reminder,
we
do
have
a
cap
on
the
funds
and
if
the
port
and
council
decide
to
invest
more
later,
that's
up
to
them.
E
This
is
the
agreements
outline
from
when
we,
when
we
did
the
sick
deal.
But
again,
what
we're
doing
now
is
is
consistent
with
those
agreements
we're
doing
the
work
for
the
parking
they're
doing
the
work
for
the
building.
As
I
mentioned,
some
other
smaller
contracts,
we'll
need
to
execute
here
for
soil,
borings
and
survey,
and
really
what
we're
asking
to
do
tonight
is
for
the
council.
Excuse
me
for
the
port
authority
to
pass
a
motion
approving
this
professional
services.
E
Agreement
for
architectural
services
we'd
be
using
the
same
architect
that
sick
is
using
on
the
private
side
and
we've
cross-referenced
those
costs
to
make
sure
they're
industry
standards
and
like
what
sick
is
paying
on
the
private
side.
For
that-
and
we
can
do
this
because
the
port
authority
has
special
powers
in
the
statute.
It's
one
of
our
quote-unquote
superpowers
that
we
can
go
and
directly
contract
with
an
entity
like
this
when
it
makes
sense
to
do
so,
especially
for
things
like
parking
specifically
in
the
in
the
statute.
For
that.
D
So
you,
you
said
the
same
architect
of
the
private
side,
so
the
architect
that
did
the
current
building
is
going
to
do
this
phase
as
well
right.
So
we
have
the
continuity
and
look
and
feel
and
the
whole
bit
and
I'm
assuming
that's
going
to
be
the
plan
as
we
continue
through
this
process
and
as
we
get
to
all
four
steps,
all
four
phases.
E
Thank
you,
mr
president,
commissioners
and
commissioner
bussey.
So
yes,
so
cloudberg
is
the
architect
that
we'd
be
contracting
with
they
did
the
first
phase.
Sick
is
working
with
them
on
this
second
phase
and
we
would
be
working
with
them
for
the
parking
ramp.
So
it's
all
economies
of
scale.
It's
all
one
plan
sheet,
if
you
will
that's
planning
it
all
together
now,
whether
or
not
you
know
on
the
next
phase
that
we
will
all
collectively
decide
to
use
clauberg
is
is
something
that
you
know
largely
sick.
E
You
know
will
be
in
control
of
because
the
meat
of
the
architectural
work
and
engineering
will
be
done
on
the
private
side.
A
relatively
smaller
piece
of
it
is
on
on
the
public
side,
and
so
assuming
that
all
goes
well
in
this
phase,
it's
been
going
well,
the
last
phase
of
no
reason
to
believe
that
that
won't
happen,
but
it's
not
it's
not
set
in
stone
that
that's
sick
will
or
that
we
will.
D
E
B
E
Mr
lens,
the
they
are
a
collection,
a
relatively
new
firm.
They
are
derivative,
very
experienced
people,
but
they
split
off
and
I'm
going
to
forget
the
firm
that
they
split
off
from
but
they're
very
experienced
people.
So
I
know
that
they've
done
projects
like
this,
but
I
don't
have
specific
examples
sitting
here
today
for
a
project
that
these
particular
staff
would
be
happy
to
get
you
some
references.
If
you'd
like.
B
E
E
A
E
Mr
president,
I
think
I
think
the
average
and
mean
wage
is
even
higher
than
that.
If
I
recall
it's
in
the
80s
and
so
they're
very
well,
you
know
really
good
paying
jobs,
especially
when
the
headquarters
moves
in
there's
a
lot
of
engineers
and
research
type
people
that
that
work
there,
in
addition
to
some
lower
wage
jobs
which
aren't
lower
wage
anymore
but
and
weren't
even
before
the
pandemic,
but
their
average
and
mean
wage
is
quite
high.
A
Well
and
it's
great
that
they
they
want
to
move
forward
with
the
second
phase.
I
mean
again
they're
not
committing
at
this
point,
but
that's
really
a
good
signal
so
well
any
further
discussion.
Otherwise
we
need
to
have
them.
We've
got
a
motion
up
on
the
screen
and
entertain
that
motion.
Commissioner.
A
B
A
Commission
second
by
commissioner
luntz
any
further
discussion,
not
all
in
favor,
please
signify
by
saying
aye
hi
post
motion
carried
6-0
and
commissioner
lance.
I
will
second,
your
your
concern
about
parking
ramps
back
when
I
was
at
the
university
of
minnesota.
I
looked
at
these
ramps
and
I
said:
do
they
have
to
be
this
ugly
and
we
we
really
worked,
and
that
was
also
one
of
the
big
discussions
when
we
went.
B
B
A
A
A
H
A
I
I
So
it
is
a
requirement
in
state
statute
that
the
city
of
bloomington,
as
well
as
the
port
authority,
complete
an
annual
financial
statement
that
particular
annual
financial
statement
has
been
been
audited
by
us.
It
hasn't
been
completely
distributed
yet
or
finalized.
That's
all
in
the
process
right
now,
but
the
audit
results
have
been
completed
for
the
for
this
year.
I
It's
important
to
understand
that
the
port
authority
in
accounting
in
financial
reporting
is
considered
what's
called
the
component
unit
of
the
city
and
that
there
is
a
definition
in
governmental
accounting
standards
that
defines
what
a
component
unit
is,
and
the
port
authority
meets
that
definition.
So,
as
a
result,
your
financial
activities
are
reported
as
part
of
the
city's
financial
report.
I
So
the
audit
process
really
includes
us
providing
an
opinion
on
your
financial
statements
that
isn't
is
reported
in
accordance
with
governmental
accounting
standards.
We
also
provide
opinions
on
the
testing
of
that
financial
report
in
terms
of
its
internal
controls,
specifically
around
the
financial
report.
I
We
also
provide
opinions
on
the
compliance
with
variety
of
laws
and
regulations
that
pertain
to
that
financial
report,
mostly
that
those
standards
relate
to
grants
and
any
sort
of
funding
you
might
have
gotten
from
grants
or
other
types
of
revenues.
Probably
in
your
case,
tax
increment
revenue
is
probably
the
most
noteworthy
item
that
you're
receiving
and
then
lastly,
we
audit
your
compliance
with
minnesota
laws
and
regulations
and
that
particular
audit
is
guided
by
the
office
of
state
auditor.
They
provide
us
with
a
list
of
the
laws
that
we
test.
I
We
don't
test
every
law
that
applies
to
the
port
authority,
but
just
the
ones
that
are
provided
on
the
state
auditor's
list.
So
this
year
the
audit
results,
as
noted
in
the
powerpoint,
we
did
issue,
what's
called
an
unmodified
opinion,
a
complete,
clean
opinion
on
that
financial
report.
I
should
say
we
will
be
issuing
a
complete
opinion.
I
You
know
it
was
the
opinion
you
were
looking
for
and
certainly
the
results
you
were
looking
for.
As
part
of
this
audit,
we
did
not
have
any
findings
to
report
in
internal
controls.
You
know
probably
the
most
noteworthy
kind
of
event
when
it
comes
to
internal
controls
that
the
city
is
relates
to
really
every
audit
that
we've
been
going
through
the
last
few
years
and
that
relates
to
changes
in
internal
controls
in
and
around
the
cove
experience.
I
Every
organization
had
to
change
what
they
were
doing
on
a
day-to-day
basis
when
it
comes
to
accounting
and
financial
reporting
solely
based
on
the
fact
that
people
weren't
necessarily
working
the
same.
You
know
what
I
mean
they
weren't.
They
were
working
out
of
the
office.
They
might
not
have
been
in
here
you're
there,
so
controls
were
changed
in
a
number
of
ways,
and
so
you
know
we
audited
for
that.
We
didn't
have
any
concerns
or
or
challenges,
but
it
is
something
that
we
did
note
and
had
to
work
through
then.
I
So
it
is
a
requirement
in
state
law
that
the
the
city
and
the
port
authority
pay
its
obligations,
its
payments
or
its
invoices
within
35
days
of
the
receipt
of
the
invoice
or
the
receipt
of
the
services
whatever
came
later,
and
so
we
do.
A
sample
of
transactions
of
testing
is
part
of
this
audit
and
and
two
of
the
transactions
that
we
noted
were
not
paid
within
that
35
time
time
period.
I
I
And
so
the
immediate
reaction
of
the
finance
staff
at
the
city
was
well.
We
almost
expected
this
to
happen
because
we
we
noted
it
ourselves
already
internally.
Throughout
the
the
year
there
were
some
challenges
in
the
accounts
payable
department,
the
personnel
in
that
they
were.
They
noted
that
things
weren't
working
or
moving
as
quickly
as
they
would
have
liked
in
in
that
department.
I
So
the
fact
that
we
found
these
items
wasn't
much
of
a
surprise
to
the
staff
and
in
fact
they
said
well,
the
corrective
action
plan
has
already
been
implemented
and
and
put
in
place
because
we've
corrected
those
items
already
by
the
time
we
came
here
as
city
staff
or
as
auditors.
So
it's
important
first
of
all
to
know
that
there
is
a
corrective
action
plan
and,
second
of
all,
it's
already
been
implemented
as
we
stand
here
today,
which
is
really
important
of
any
finding.
You
have
of
this
nature.
I
Yeah,
I
think
it
was
the
personnel
issue
I
want
to
get
into
personal
issues.
There
is
an
accounts
payable
individual
that
wasn't
functioning
to
the
to
the
best
of
her
her
ability
in
this
case
and
wasn't
keeping
up
with
the
pace
of
the
invoices,
and
thus
one
payments
were
being
made
late
or
after
they
should
have
wrapped
the.
A
This
is
a
good
example
of
exactly
why
you
have
the
the
audits
done,
and
I
know
it's
very
easy
to
you,
you
kind
of
glaze
over
looking
at
the
reports
and
things
and
and
that,
but
it's
part
of
our
fiduciary
responsibility,
obviously
to
to
make
sure
this
is
done.
I
I'm
kind
of
smiling
because
in
the
private
business
world
you
you
try
to
have
your
accounts
available
stretch
as
long
as
you
can.
A
I
Later
than
it
should
have
been
later,
it
should
have
been
in
many
cases.
I
mean
in
some
cases
too,
when
we
investigate
or
maybe
investigated
it.
There
were
situations
with
these
invoices
that
might
have
been
out
of
their
control
as
well.
Invoices
were
coming
in
late
from
vendors
during
that
time
frame,
just
because
government
was
happening,
and
there
is
the
reality
of
the
situation
is.
If
you
document
why
it
came
in
late,
then
it
really
isn't
a
finding.
I
You
can
say:
oh,
I
didn't
receive
this
till
later,
or
there
was
a
dispute.
You
have
a
lot
of
construction
contracts
or
contractors
that
well
I'm
not
paying
them
until
they
finish
the
job.
But
if
you
document
all
that,
we
don't
consider
that
a
finding
but
the
documentation
in
these
these
two
cases
wasn't
wasn't
available.
So
yeah
looks
like
you
have
me
up
how
about
that
yeah.
I
But
it
is
important
in
my
powerpoint
to
show
that
some
of
the
financial
results
which
I
think
are
yeah
so
the
port
authority's
fund
balance,
which
is
really
the
year-end
financial
position-
did
increase
11
million
dollars.
So
there's
you
know
from
an
odd
standpoint,
we're
really
here
to
provide
an
opinion
that
the
numbers
are
correct.
We're
not
here
to
provide
any
sort
of
advice
as
to
it's
right,
wrong
or
otherwise.
I
As
to
the
financial
position,
mostly,
it
relates
to
yeah.
This
is
the
data
is
correct,
so
you
can
see
that
the
fund
balance
is
there
and
most
of
them.
You
know
in
this
particular
case
are
broken
out
into
dollars
that
are
set
aside
for
future
debt
service,
which
is
required
in
the
governmental
accounting
standards
and
then
those
available
for
future
capital
projects.
I
So
so
that
was
pretty
much
the
end
of
my
presentation.
If
you
look
at
the
information
that
we
have
in
our
that
is
will
be
distributed
after
the
fact.
You'll
also
find
there
is
more
information
on
legislative
data
and
other
accounting
and
auditing
updates.
There
are
the
government
accounting
standards
board,
has
been
very
busy
and
have
been
issuing
a
lot
of
standards
this
past
four
or
five
years.
So
there's
a
lot
of
standard
changes
in
your
accounting
department.
I
Here
is
doing
an
excellent
job
of
keeping
up
with
those
standards,
but
there
is,
there
is
a
lot
to
them
going
forward
so
so.
In
summary,
I
was
able
to
issue
a
clean
opinion
on
on
the
the
port
authorities,
financial
statements.
We
had
the
one
finding
that
we
reported
probably
a
highlight
of
this
year's
the
city
as
well
as
the
port
authorities.
I
I
Years
of
50
years,
I
believe
it's
one
of
the
first
cities
in
the
whole
entire
country
to
receive
this
certificate.
So
that's
great
yeah
so
that
I
think
there's
going
to
be
some
acknowledgment
at
the
city
council
meeting
next
week
regarding
that.
But
so
lastly,
there's
an
increased
fund
balance
I
mentioned,
and
then
certainly
we
look
as
as
auditors
for
the
importance
of
continuing
it.
I
Ongoing
assessments
of
controls
and
the
team
here
at
the
city
does
an
exceptional
job
of
of
monitoring,
controls
and
validating
and
improving
on
an
each
and
every
day
basis
when
it
comes
to
not
only
the
day-to-day
work
that
they
do,
but
our
recommendations
we
come
in
and
ask
a
lot
of
questions
and
provide
a
lot
of
verbal
recommendations
as
part
of
the
way
and
they
take
them
very
seriously,
which
we
like
as
auditors.
So
with
that
I'll
turn
it
over
to
you
for
any
questions
that
you
might
have
for
me.