MAGIC Fund Screening Committee 6/18/26 at 7:30 a.m.

The City of Minot's MAGIC Fund Screening Committee met on June 18, 2026, to review and approve funding applications related to economic development and workforce enhancement. The committee approved a $250,000 capitalization funding request from the Souris Basin Planning Council to support their revolving loan fund tied to FlexPACE programs, which assist new and expanding businesses with interest rate buy-downs. This approval included a motion to transfer funds to replenish the MAGIC Fund bucket to meet the $1 million capitalization limit. Additionally, the committee approved a $500,000 funding request to Minot State University to support the launch of a new innovation engineering program, leveraging state matching funds to invest in equipment and scholarships aimed at workforce development. The meeting also included a financial report on the MAGIC Fund's balance and sales tax collections, with discussions on anticipated future demand for funding and the strategic leveraging of local and state dollars to maximize impact.