City of Minot

MAGIC Fund Screening Committee

September 29,2023 at 7:30am

City Hall- Council Chambers - 10 3rd Ave SW, Minot, 2nd floor.

701-857-4750

1.

ROLL CALL

3.

HOT SWITCH HEATING SYSTEMS

Hot Switch Heating Systems, LLC (under Fiberglass Specialties in Minot, N.D.) has been approved by United Community Bank of ND/Bravera for a PACE loan. Through the MAGIC Fund, the business is looking to secure the community’s portion of the interest buydown; this portion is $215,384.65. BND will provide their portion of this 65/35 split in the amount of $400,000, as an interest buydown.

5.

ADJOURNMENT