[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6209235,"mediaKeyId","3736359-06e6f27a0c7e2a6b70e4968d252846e2","parentId",3736359,"title","Developers pitch mixed-use overhaul of 40 Fifth Street; EDIC weighs expanding incentive tools for redevelopment","audioSeconds",1798,"startMs",1273795,"endMs",3071895,"viewUrl","/Search/View?dp=1&key=3736359-06e6f27a0c7e2a6b70e4968d252846e2&start=1273&end=3071","thumbnailUrl","https://assets.pipeline.soar.com/3736359-06e6f27a0c7e2a6b70e4968d252846e2/thumbnail_1273795.jpg","articleUrl","/articles/6209235/Fargo/Cass-County/North-Dakota/Developers-pitch-mixed-use-overhaul-of-40-Fifth-Street-EDIC-weighs-expanding-incentive-tools-for-redevelopment","mediaUrl","https://secure.pipeline.soar.com/6209235-3a6b57adc2868c839df9b2347dafe907/orig.mp4?Expires=1775158840&Signature=bt8UgHKAAfuumr~2x5WSFAcKTy8CagFDZ8H1V54AfQefWeyuimhZxKRdrv8vSR1kMqAfb-CIoc6XdStzDSmc1lj2KVpCsV0pODnDfyDF5~l3AvzscTWeS9wc6AZIiOQg5WkAwAoqcw-87EP86cFX~pU6dKGSSlES5B5BebAmDcCNf4lFfSqXMtZVE6doLAWdhWZC86TJZTmJtNXV9Rgnnl1KmHjRDysiHXWvaVvKU4svKMhxgyVAp03HvorJc-OHfZEmx5snI1pJWn5NrxeavA11~YFvGHY0TpihvTqtIHz3ZV1jxR4x-Si2KXWGTKJKyqJJALhjF4j49MIP~Sm-0A__&Key-Pair-Id=KUT5TJCACFTXG","author","City Council of Fargo, ND","date","2025-05-27T00:00:00Z","article","Developers asked the Economic Development and Investment Committee to consider expanding the city’s redevelopment incentive toolkit to support a proposed mixed-use overhaul of the 40 Fifth Street Business Center that would convert and add residential and commercial space and reposition a large, mostly vacant office-industrial building.

Shannon Roars Jones, identified in the record as representing Roars, described a proposal to remove roughly 20,000–30,000 square feet from the west end of the existing building, build an approximately 800-foot-long residential building in three phases and add roughly 20,000–22,000 square feet of first-floor commercial space adjacent to reconfigured commercial space behind it. \"What we're looking at doing here is just asking you to consider changing, as part of your land redevelopment, conversation, opening up some of the incentives that are available to redevelopment of kind of existing commercial buildings,\" she said.

The developer's concept, which they termed the \"Center of Innovation,\" includes a co‑working space of about 20,000 square feet operated by an international co‑working partner, a wellness center and shared meeting and training spaces. Roars Jones said the full redevelopment concept would cost about $80 million and that the developer plans to phase the work: an initial $20 million section would include about 107 apartment units, below-grade parking running the length of the new building and 20,000–22,000 square feet of commercial space. The site is about 11 acres and the developer described roughly 1,100 current surface parking stalls, some of which would be replaced with underground parking.

City and committee members asked clarifying questions about vacancy rates and financing. Roars Jones said the building was about 95% occupied before 2021 and is now roughly 40% occupied post‑COVID; she said some tenants, including Sanford Patient Financial Services, remain and that letters of intent are being negotiated for new tenants. Committee members and staff discussed available incentive tools, including the city's pilot exemption program, tax-increment financing (TIF) and the five-year remodeling exemption. Staff said the pilot program provides the city's most flexibility for negotiations and that TIF has more stringent documentation requirements.

Committee members did not vote on any incentive for the 40 Fifth Street project at the meeting. Jim Gilmore (EDIC staff) said staff will consult with finance and consulting partners about comparable programs used elsewhere and that the committee will consider policy changes later in the year. \"We are kind of bringing it to you today,\" he said, \"... while there's no specific request today, except that you would consider these types of uses, as you're working through your new land development code and your new incentives process.\" The committee kept the item on its agenda for further study.","mediaType","Video","parentTitle","Fargo City Economic Development Incentives Committee - 05.27.2025","oneSentenceSummary","Developers sought committee support for expanding the city’s incentive tools to redevelop the 40 Fifth Street Business Center into a mixed-use \"Center of Innovation,\" proposing phased residential construction, underground parking and new commercial amenities.","taxTitle","Fargo , Cass County, North Dakota","taxId",2742,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6209240,"EDIC approves five-year exemption for Corvent Medical as company expands ventilator manufacturing in Fargo",570,683070,1253665,"/Search/View?dp=1&key=3736359-06e6f27a0c7e2a6b70e4968d252846e2&start=683&end=1253","https://assets.pipeline.soar.com/3736359-06e6f27a0c7e2a6b70e4968d252846e2/thumbnail_683070.jpg","/articles/6209240/Fargo/Cass-County/North-Dakota/EDIC-approves-five-year-exemption-for-Corvent-Medical-as-company-expands-ventilator-manufacturing-in-Fargo","https://secure.pipeline.soar.com/6209240-04c258cf5ea2c50e17286d1b7db4399a/orig.mp4?Expires=1775158840&Signature=DjEO24mVpsq0HC7FT09iWa7GpSyn2nkYGJj-df-rk63QamvYEmviHd9sf0bg1qmjewtiSDCuXsuIGWp1jyuHFRsfkGTxL8zYhLqsPV~42IBOk4DGJKjiRLOXDmK6MiTPW7qOZg0VN3SRdNNhZ2UmxXm6HaLiM9r30NZaurG9yFmbKs3pMbMG26mKn8RWtDJjOSVDzgeNPloxjqwT~RV8lcSAGQ7anVDN5xifgfctZld7Fy6qt8jjHS8~PztS-iThoP3wOZbkElhtAxnDqwCqir3lSp2rK6KhaEUaHg3ZxnJanI1Xoej~GD~jqVU-LSUvgasNZOUMFfCTUqpKGgloiA__&Key-Pair-Id=KUT5TJCACFTXG","The Economic Development and Investment Committee approved a five-year property-tax exemption application from Corvent Medical to expand manufacturing and warehousing space in the Prax Building, a move the company says will support additional hiring and increased production of critical-care ventilators.

Richard Walsh, identified as CEO of Corvent Medical, summarized the company's growth since locating in Fargo in 2021, saying the firm grew from initial engineering and R&D work at North Dakota State University locations into a manufacturing operation in the Prax Building. \"In the last 12 months, all of the medical ventilator companies that were here in The United States have left. We are the only manufacturer of mechanical ventilation products in The United States,\" Walsh said. He told the committee Corvent received FDA 510(k) clearance in November and described a market opportunity as older devices approach end of service.

Economic-development staff told the committee Corvent exceeded an earlier commitment to create 27 jobs at an average salary of $97,510: staff reported the company currently has 42 employees and an average reported salary of $140,595, representing approximately $6 million in payroll. For the expansion under review, staff said Corvent expects to add nine full-time positions in the expansion year and reach 30 additional positions by year five; the company also told the committee it plans to hire another 11 employees this year for warehousing and manufacturing.

Walsh described Corvent's product as a class IIb critical-care ventilator and said the company is pursuing opportunities tied to federal stockpile and \"Buy American\" procurement trends; he said 200,000 ventilators in the federal stockpile are approaching end-of-service and that Corvent hopes to participate in replacement purchasing.

After discussion the committee voted to approve the five-year exemption; a mover was recorded in the transcript and the chair announced \"Motion carries.\" The transcript contains no written roll-call tally. Staff told the committee the requested space is the last available adjacent area in the Prax Building and previously was occupied by another tenant.

No statute, ordinance number or regulatory citation was introduced during the public discussion; committee action was a discretionary approval of the exemption application under existing local incentive procedures.

Committee members praised the company's development and the decision to retain and expand manufacturing in Fargo; no conditions or amendments to the exemption were recorded in the meeting transcript. Staff will proceed with administrative steps to finalize the exemption paperwork and continue monitoring job and payroll outcomes as part of the pilot and incentive reporting process.","Corvent Medical, which received FDA 510(k) clearance for its ventilator product last November, received committee approval for a five-year exemption to expand manufacturing space in the Prax Building; the company says it has exceeded earlier job and payroll commitments and plans additional hires.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6209245,"EDIC approves five-year property-tax exemption for Burt's Trucking expansion",631,37871,669435,"/Search/View?dp=1&key=3736359-06e6f27a0c7e2a6b70e4968d252846e2&start=37&end=669","https://assets.pipeline.soar.com/3736359-06e6f27a0c7e2a6b70e4968d252846e2/thumbnail_37871.jpg","/articles/6209245/Fargo/Cass-County/North-Dakota/EDIC-approves-five-year-property-tax-exemption-for-Burts-Trucking-expansion","https://secure.pipeline.soar.com/6209245-f4be7d1fa356bf24d2aedff4709066dc/orig.mp4?Expires=1775158840&Signature=VJcDSNZzP3~we47gFHedgNPK4O4RuNUqRJsGoMuevKqUFH5OmQKuioanhJ9S7wY-U~5mZR0O3E6foaex09Doa8B4XFPHY~72iB3PAkFTysAduvVvbFk0GHHlNMdcaMaJ4RVjHBChI9xvKYj0UFBALQD4HBzQolDMzBNWCE6tTS9tstYD~-DHHNP1R7uMJPWtFZkrpGl7r0XLFNEy3VHaO1myMsK0GjvhWxfnuDapTRT~VX4NrD79GicGxd2J0nbXaRnrVO~CfVKX0C0rPpcatx5R5lUGS3B9nb-Lr51srreLo-V3b~VLyvNMDOafD3rBL6lsBhYxAnBmOhCBBHr5JA__&Key-Pair-Id=KUT5TJCACFTXG","The Economic Development and Investment Committee approved a five-year property-tax exemption for Burt's Trucking to move into and upgrade a roughly 50,000-square-foot building at 2601 Third Avenue North, enabling the company to consolidate operations and expand production.

Committee members approved the application after hearing presentations from Greater Fargo Moorhead Economic Development Corporation staff and company representatives. Ryan O'Sine of the Greater Fargo Moorhead Economic Development Corporation said the project \"represents a true expansion,\" and described the company's need for a single building of about 50,000 square feet after \"they've run out of room.\" Jeremy Gregoire, identified in the record as an owner of Burt's Trucking/Burt's Truck and Equipment, told the committee the work at the new site will include installing overhead cranes, wiring, a paint booth and parking-lot and exterior improvements.

Burt's Trucking supplies and customizes truck equipment — installing plows, boxes, hydraulic systems and electronics on cab chassis supplied by customers. \"We add all that to the truck and then make it a working, working unit,\" Gregoire said, describing sales to city and state departments of transportation and private contractors.

Economic-development staff told the committee the project is expected to create 18 new jobs at an average annual wage of $75,000 in the first year, rising to a total of 30 additional positions by year five. Gregoire said the firm's current workforce is about 41 employees and that the planned hires are skilled labor — welders, painters and similar trades. Commissioner questions clarified that the company's staffing projection of \"41\" referred to current employees and the \"18\" referred to additional hires, producing an estimated first-year total of about 59 workers.

The committee voted in favor of the exemption after a motion from the mayor; no roll-call vote was recorded in the meeting transcript. The committee chair announced, \"Motion carries.\" The committee packet noted the company scored well on the city point sheet used to evaluate exemptions.

No ordinances, statutory citations or other legal authorities were introduced into the public record during the discussion; the request was described as an application for a five-year exemption under the committee's existing property-tax incentive processes.

The company and economic-development staff said the new facility would let Burt's Trucking bid on work in a wider territory — Minnesota, North Dakota, South Dakota, Iowa and Wisconsin — and reduce the need to turn down contracts because of space limits. The committee's approval allows the company to proceed with building upgrades and hiring under the terms presented to the committee.

The committee did not attach additional conditions in the public discussion; staff will follow standard administrative steps to finalize the exemption paperwork.","The Economic Development and Investment Committee approved a five-year property tax exemption for Burt's Trucking to relocate and expand into a roughly 50,000-square-foot building on Third Avenue North, a move the company says will add skilled manufacturing jobs and let it pursue new regional markets.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6209229,"EDIC receives status update on pilot property-tax exemptions and TIF districts; many exemptions have matured",471,3094085,3565560,"/Search/View?dp=1&key=3736359-06e6f27a0c7e2a6b70e4968d252846e2&start=3094&end=3565","https://assets.pipeline.soar.com/3736359-06e6f27a0c7e2a6b70e4968d252846e2/thumbnail_3094085.jpg","/articles/6209229/Fargo/Cass-County/North-Dakota/EDIC-receives-status-update-on-pilot-property-tax-exemptions-and-TIF-districts-many-exemptions-have-matured","https://secure.pipeline.soar.com/6209229-251fc4249909c92a88a94d8d7b040812/orig.mp4?Expires=1775158840&Signature=AmhTu9BZdJCFtuhLuK~wi9aPGr5pCdlXR8AilA1hZQW6rJCt6qnnIAjrYnh9VS2ouEl6EzWQ~~njJHZ6na92RW5x2m8rBVkdMtQeVsWy~rQLDdx~2IKbvHyamIJyRvBFfeNsZxr4MfNfF-jxgD0aQq7n7duATy2wRZGIc1Nmk7WbDrFoEU1cybEQDh2OcNQVafCA5Sbk5qerAQ4a18hJhTpKImOyLo0GEZcwQNtGW1lHQR60HWoAc-jjo9y35rG5HHurhbMtP4IrYrMP6hdJCdWw22OnfEv3awGLlCpBwd~PSFz7nnouFZoXgxzCFNyWRjqznQ3MWgH0c1U84Qzliw__&Key-Pair-Id=KUT5TJCACFTXG","EDIC staff presented an update on the status of the city's pilot property-tax exemption program and tax-increment-financing (TIF) districts, reporting that several exemptions have already expired and that TIF districts have generated substantial increases in assessed value since their base years.

Jim Gilmore (EDIC staff) said the city is still completing job-creation reporting for older exemptions and that staff will follow up with more complete employment figures at a future meeting. He presented program-level figures, telling the committee the pilot program has supported apartment construction near the university and in core neighborhoods and that, historically, a number of pilot exemptions have now ended and are paying full property taxes. Gilmore described the pilot program mechanics (previously presented as a 10-year exemption with a 5-year at 50% and a following 5-year at 100% schedule) and noted staff discussions about simplifying the structure to a seven-year 100% exemption to reduce administrative overhead while producing similar present-value results.

Staff reported that several pilot exemptions have already expired and started paying full property taxes and that more expirations are scheduled over the next decade. Gilmore said the city has supported a large number of downtown and near-campus housing projects under the pilot and that roughly $43 million in previously exempt value has matured and returned to the tax rolls, with another roughly $96 million scheduled to expire over the next dozen years (figures provided by staff in the meeting packet).

On TIF, staff reported that the base-year value of the city's TIF districts was comparatively small at formation and that total current values have grown substantially. Gilmore said one recently expired TIF was a 15-year maximum project and that from 2020 to 2024 about $140 million in value matured and left TIF. He summarized several TIF districts and public-parking and public-partnership projects that produced large increases in value (examples included Roberts Commons and Mercantile projects) and said the riverfront TIF will have about $900,000 available next year and could grow to roughly $1.5 million annually as other districts mature.

Commissioners discussed affordability and whether new pipeline projects are likely given rising construction costs, higher interest rates and constrained state and federal funding. Staff said state housing programs and tax-credit programs remain available but that assembling affordable-housing finance remains more challenging than in prior years. Gilmore said he will provide more complete job-creation and project-status information in a future update to the committee.

No formal action was taken; the presentation was delivered for information and to guide future policy consideration.","Staff summarized the status of the city's pilot exemption program and tax-increment-financing districts, reporting that multiple pilot exemptions have expired and that TIF base values have grown substantially since the districts' creation.","actionData","errors"]

Article not found

Developers pitch mixed-use overhaul of 40 Fifth Street; EDIC weighs expanding incentive tools for redevelopment

EDIC approves five-year exemption for Corvent Medical as company expands ventilator manufacturing in Fargo

EDIC approves five-year property-tax exemption for Burt's Trucking expansion

EDIC receives status update on pilot property-tax exemptions and TIF districts; many exemptions have matured