Bismarck Vision Fund Committee 2026-08-27

The Dakota Media Access Bismarck Vision Fund Committee held a meeting on August 28, 2026, focusing primarily on financial updates and loan portfolio management. The committee reviewed financial statements, noting an increase in cash due to a decrease in notes receivable, particularly related to a loan to Great Plains Restorative Services, which appears to be closing. The committee discussed reserving $70,000 as a potential bad debt reserve for this loan and voted to approve this set-aside. They also planned to invite representatives from Lewis and Clark Development and the primary lender, First Western Bank, to provide updates on loan statuses. Additionally, the committee received updates on the Bismarck Target Industries initiative, business retention and expansion efforts, and discussed potential adjustments to loan qualification criteria. There was also a discussion about the committee's role in administering the Vision Fund program and whether decision-making authority should remain with the City Commission or be delegated. No new contracts or procurement awards were made during this meeting.