MAGIC Fund – TheMinotVoice.com

Mandan to begin gift card program to boost Memorial Highway businesses during construction

by: MinotVoice | April 26, 2025

With a $119 million highway project underway, Mandan businesses along the Strip are bracing for a bumpy few years — but help is on the way. The city is launching a new gift card program in late May, offering residents a 25% bonus on purchases to encourage shopping local during construction. Funded through the Mandan

Read & Share sourced from: Bismarck Tribune

MAGIC Fund committee supports loan fund request

by: MinotVoice | February 22, 2025

Minot’s business community could see another boost as city leaders consider adding $250,000 to the Business Accelerator Fund (BAF). Administered by Souris Basin Planning Council, the fund helps local businesses secure state-backed interest buydowns, unlocking millions in additional investment. With demand holding steady, officials estimate at least $750,000 will be needed annually. While the goal

Read & Share sourced from: Minot Daily News

Committee ponders role of MAGIC Fund Screening Committee

by: MinotVoice | February 10, 2025

The MAGIC Fund Screening Committee was once the first checkpoint for economic development proposals in Minot. Now, it barely meets. Under revised guidelines, the Minot Area Chamber EDC (MACEDC) has taken over much of the early review process, leaving some wondering whether the screening committee still serves a real purpose—or if it’s just a procedural

Read & Share sourced from: Minot Daily News

Souris Basin Planning Council’s Business Accelerator Fund recommended for refill

by: Josh Wolsky | February 19, 2023

A little economic development tool with big impacts is recommended for a refill. Souris Basin Planning Council manages the Business Accelerator Fund; it delivers a local match for participation in the Bank of North Dakota’s Flex PACE program to buy down interest rates for qualifying businesses. On Friday, the MAGIC Fund steering committee recommended tapping

Read & Share sourced from: Minot Daily News

Trinity rejects MAGIC Fund loan

by: Josh Wolsky | January 9, 2023

Toward the end of last year, Trinity Health made a request to the MAGIC Fund, the City of Minot’s economic development resource, for proposed improvements to the soon-to-open new hospital. City Council amended the request for a grant and converted it to an offer for a loan with a portion forgivable. Jill Schramm with the

Read & Share sourced from: Minot Daily News

City Council Agenda, December 19 2022

by: Josh Wolsky | December 19, 2022

Minot City Council will meet Monday, December 19, at 5:30 pm to consider the agenda attached below. Items of note include the disposition of Home Sweet Home, hiring EAPC Architects to provide a facility study for the police department reuse of the current City Hall, a higher-than-estimated bid to get the Career & Technical Education

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And for our next magic trick…

by: Josh Wolsky | June 14, 2018

Magic. How do you define it? It’s a more important Minot question than you might guess. First, we are the ‘Magic’ City. When the Great Northern Railroad finished its 1886 construction season and stopped for the winter, it stopped in our valley. The town sprung up overnight — as if by magic. We earned our nickname

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Evidence for a New Economic Development Model?

by: Josh Wolsky | May 11, 2017

Economic growth, economic diversity, these are buzzwords in North Dakota and in Minot right now. The City’s NDR application talks about it; our consultant on the project, CDM Smith, even has a $300,000 budget to create an ‘Economic Development Strategic Plan for Minot & Ward County’. We also have the MAGIC fund, a sales-tax-funded pot

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Questions & Concerns With Handing Over $375,000 to Anyone

by: Josh Wolsky | April 3, 2017

First and foremost, I applaud Stephanie Hoffart and her team at MADC for developing a prospect as exciting as Skyscopes. Between the Air Force, the oil and energy industries, and the ag business, the Unmanned Aerial System (UAS) industry is a great fit for Minot. It would be awesome if our little town can carve

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It’s Open! Renaissance Parking Structure Ready for Cars

by: Josh Wolsky | February 13, 2016

One of Minot’s embattled downtown parking garages is now open for cars. City leaders and project managers gathered Thursday afternoon to officially cut the ribbon. Work will continue around the structure as the commercial and residential space is built out.

Read & Share sourced from: KMOT

Manitoba: Loan program announced for breweries and distilleries

by: Josh Wolsky | January 26, 2016

The province of Manitoba is looking to kickstart the brewing and distilling industries. So much so, they’re starting a loan program to help new start-ups purchase equipment.

Read & Share sourced from: Winnipeg Free Press

Fargo to revisit city’s tax break policy

by: Josh Wolsky | January 24, 2016

These programs justify themselves under the shield of economic development, and there are examples where they are effective at generating redevelopment. But in Fargo, it seems the City Commission has been stretching framework to fit project.

Read & Share sourced from: InForum

MADC Pulls MAGIC Fund Request for Downtown Businesses

by: Josh Wolsky | January 7, 2016

The Minot Area Development Corporation has pulled its request for a financial relief program intended for downtown merchants and property owners. MADC had requested a $500,000 program that would have provided interest buydowns for qualifying downtown merchants; they have been asked by the Downtown Business and Professional Association to take more time with the issue.

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Wells Fargo Passes on Cypress Development Bailout Package, Parking Garages Back in Limbo

by: Josh Wolsky | August 29, 2015

A portion of the City’s recently approved bailout money for the downtown parking garage developer is in question after Wells Fargo chose not to loan money on a complimentary portion of the finance package. KX News has the story.

Read & Share sourced from: KX News

Small-business Savvy: Building the Local Small-business Community

by: Josh Wolsky | August 24, 2015

When it comes to economic development, it's the small businesses that deliver the most sustainable impact through the ups and downs of the economy.

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Minot Parking Garage Developer Tangled in Oregon Ponzi Scheme

by: Josh Wolsky | July 23, 2015

Dominic O’Dierno, Asset Manager for Cypress Development, LLC and signatory to the MAGIC Fund application for an additional $2.5 million in funding for the City of Minot’s embattled downtown parking garages, is presently under sanctions by the U.S. Securities and Exchange Commission for his involvement in an Oregon-based Ponzi scheme. An S.E.C. Administrative Proceeding from December 6, 2012,

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