MAGIC Fund Screening Committee
Seven area residents sit on the MAGIC Fund Screening Committee, appointed by the mayor and confirmed by the City Council. Members represent the financial, professional, labor, business and trade communities. Initially, the MAGIC Fund Screening Committee's singular role was to review applications submitted by organizations for MAGIC funding and pass them along to the Minot City Council if approved. In the next step of the process, the City Council votes on the request at its next monthly meeting.
In 2003 the Committee adopted guidelines to require its chairman to submit a written report including fiscal information, performance evaluations, an assessment of the management health of the MAGIC Fund and a listing of all applications not approved by the Committee. Two years later members of the committee recommended that all members be required to obtain some level of education in economic development. Suggestions for this included Souris Basin Planning Council seminars or statewide economic development conferences.
Read more about this topic: MAGIC Fund (Minot)
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