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January 7, 2009 Special Board Meeting

Jamestown Regional Airport Authority
Special Meeting Agenda
January 7, 2009

1. Roll Call: Johnny Klingenberg (Chairman), Jim Boyd (Vice Chairman) Dennis Nelson, Jim Dodd, Tom Merrick, Kelani Parisien, Andrew Schneider (Manager) Kim Mickelson (Admin Assist) Absent: Craig Neys & Merle Bingham Guests: Steve Aldinger (Interstate Engineering), Keith Norman (Jamestown Sun), Lindsey Larson (JSDC).
2. Discussion of New Airport Terminal Projects: Mr. Schneider said that Merle Bingham emailed him his concerns. Mr Klingenberg said reason for meeting is to talk about construction for new terminal building. Mr Klingenberg stated to keep in mind that this is step 1 of a proposed project. If agree to proceed that only means we will try to proceed in the manner discussed tonight. Mr Schneider stated that if we start doing planning we are going to start inquiring costs. If we get to the point of using FAA money for plans & specs and we don't finish project in a certain amount of time we will have to start repaying money. Mr Schneider also stated once we commit to project we are going to want to see it done. Mr Klingenberg asked that of we draw plans & specs up and don't use them until say 2011 we don't have to start paying back, that is only if we completely abandon project. Mr Schneider stated yes. Mr Schneider said the last time we all got together was before meeting in Bismarck which included, Mr Schneider, Mr. Klingenberg, Mr Aldinger, Mr. Schuck, & Mr. Holzer. Mr Aldinger started with a tentative schedule, he explained that Mr. Schuck was not sure if they were going to lift cap on discressionary money, which right now is a $200,000. Sen. Dorgan is aware of the cap. Mr. Aldinger explained that once we start project we need to finish in certain amount of time. The rule is you have 4 years and don't get extensions they start asking for repayment. Mr. Merrick asked when they decide project has started. Mr Aldinger said once fist grant is signed. Mr Aldinger stated the Brian & Mark are very optimistic and have said they will find a way to get project done. Mr Aldinger said there will be 2 grants issued in 2009 the 1st grant application is Feb 2. The 1st grant is only 1/3 pay out, the 2nd part of the grant is May assuming congress passes bill. Mr Aldinger said the Mr Schuck suggested to get plans and spec done , because we do have enough entitlement money for that portion. Mr Aldinger said that if federal funding doesn't come through for whole project then we are looking at in 2009 tearing down administrative part and building foundation and shell, if still not enough funding then in 2009 doing foundation and in 2010 doing shell. Mr. Schneider said he received something from AAAE update to Jobs Bill, and one thing they were talking about was terminal projects. Caps for terminal projects were so low it prohibited some of them. Mr Merrick asked if Mr Aldinger could explain the GA. Mr Aldinger explained that is was $150,000 of entitlement money the airports get every year and that they can only bank so much of it or they loss it, and they are allowed to transfer money to other airports so they don't loose the money with the exception that the airport the money is transferred to will repay it when needed. Mr Schneider stated that Mr. Holzer & Mr. Schuck have stated they have never started a project with out seeing it through to completion which was very positive. Mr. Schneider also said he talked with Connie Ova with JSDC about a loan, and she has said that Williston, Devils Lake, or Dickinson haven't used economic funds for something like this. Mr. Schneider said he had a conference call with Brian Bittner and another gentleman with Wells Fargo and they are doing decent interest rates on municipal bonds. USDA Rural Development has a 4% rate, but the ideal interest rate is through JSDC at 0%. Mr. Schneider said he is on the agenda with JSDC but they have inquired if the board has made a decision to go ahead with project. Mr Boyd Stated if it is a loan they might take a different path and he also talked with Connie about interest rates as well. Mr Boyd said what we need to do right now is look at repayment of loan he also states looking at it right now it looks like we wouldn't start paying loan back until 2012. We need to go to JSDC with plans on repayment if we do loan through JSDC. Mr Boyd said what we are looking to do tonight is to approve process in steps and are we looking tonight on exploring funding options. We want to vote on exploring various funding options. Mr Schneider said that if we are going to keep pushing Mark & the FAA we need to be unified as to if we are going to do project or not. Mr Boyd suggested to explore other grant opportunities. Mr Klingenberg said we don't know what new administration coming in is going to do. One thing we have to do is plans & specs. Estimated cost for plans 7 specs is $200,000. Mr Boyd asked where the money is coming from. Mr Schneider Suggested using 1 of the cd's we have right now that is worth $61,000 fir project and leave the other one we have as is. Mr Dodd asked about our equipment and looking at using money for that instead. He also wondered if anything major breaks down how are we going to pay for that. Mr Schneider said that is already budgeted in to the 2009 year the terminal cost is a separate cost. Mr. Boyd would like to see how we are going to pay for the things that are not covered under entitlement money, and also asked about money for jet way. Mr Schneider stated that the FAA will not fund a jet way. Mr Boyd asked if the million nine figure included money for jet way, Mr. Schneider stated no it did not. Mr Boyd suggested that we get a spending plan & a income plan to see where the money is going to come from. Mr Nelson said the concerns from Mr Bingham brought out was the economy. Board members have decided to go ahead with plans & specs at this point, but hold off on final decision of terminal. There was no motion made.

3. Adjourn