Minot panel asks city council to review consolidation of Renaissance Zone and Magic Fund committees

MINOT — The Minot Economic Development Plan Review Committee voted Friday to ask the City Council to reevaluate the city’s economic-development committee structure and consider consolidating the Renaissance Zone Review Committee and the Magic Fund screening committee.

Committee Chairman Blessum moved the item into discussion during the committee’s May 16 meeting and, after debate, the committee approved a motion to forward the request to the City Council for further review and recommendations.

The motion asks the council to “consider consolidating the Renaissance Board, Magic Fund Committee, or any other combination to continue economic development discussions,” and passed on a roll call vote. Members voting “yes” were Blessum, Hammer, Neither and Pitner; Nelson voted “no.” The motion carried.

Why it matters: The two bodies under review govern separate incentive programs. The Magic Fund is fed by a portion of local sales tax and funds programs such as FlexPACE and interest buy-downs; the Renaissance Zone handles property-tax abatements and façade improvements. Committee members and staff warned that any structural change would likely require formal amendments to the city’s Renaissance Zone Development Plan and additional approvals from the county and school board before council action.

Committee debate

Committee members voiced competing priorities during more than an hour of discussion. Supporters of consolidation and continuing conversation said a single standing economic-development committee could improve coordination and avoid duplicative volunteer effort. “The Renaissance zone probably is the…