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Economic Development authority Minutes November 20, 2023 would meet the goal. Page 3 Commissioner Westgaard expressed concerns with setting precedent, noting this is an unusually unique request. He questioned what other challenges this could potentially bring with other TIF districts. Commissioner Beyer stated he may have a conflict of interest because his business does business with Trimark. Mr. O'Neil stated the EDA attorney advised any agreement modification would require the new company to join as party to if the EDA decided to move forward with the modification. Commissioner Wagner doesn't want to see Mr. Moyer put out of business and wants to find a different way to make this work outside of a TIF modification. She noted the agreement was clear and specific and is nervous about amending it and setting a precedence. Mr. O'Neil stated he's not sure how other tools would work for the owner, but they could look at a loan or tax -based incentives. He also suggested the EDA will have to ask to what degree we re -open a "but -for" analysis discussion and re-evaluate the current financial need. Commissioner Grupa asked Mr. Moyer how he sees the future for his company. Mr. Moyer stated it's unpredictable with the current wars occurring. He also stated it affects his business when there are bottlenecks in the manufacturing process and the demand increases. Mr. O'Neil noted this is legally unprecedented territory but does feel there is a legal case to be made for the modification and there is still time to keep working on the issue. Commissioner Westgaard stated if every avenue is exhausted and the Authority wants to keep the business viable, to make it through difficult time with materials it may have to be considered. 9.2 Die Concepts Loan Mr. O'Neil presented the staff report. He expressed concerns with the amount of time that has passed without receiving requested materials and the Authority may want to take additional steps to move forward on collection. He did note he heard recently from the company they want to obtain a traditional loan to pay- off the EDA loan. Commissioner Westgaard stated if there is regular communication between the parties, he'd be willing to give them some time to plan as personal financing can take a while. The consensus of the Authority is to give Die Concepts until the next EDA meeting before deciding. 10. Adjourn Work Session Moved by Commissioner Westgaard and seconded by Commissioner Beyer to adjourn the work session meeting. Motion carried 6-0. P0VIIEI I NATURE