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Staff Report - 11 16 23 Meeting1 Staff Report Date of Meeting: November 16, 2023, City Council Meeting To: IAC Chairman and Committee Members From: Kyle Morell, City Administrator Re: November Staff Report ______________________________________________________________________________ MidCo Project Updates Justin from Midco is working on updating the slides Melissa presented to the Committee in September to reflect the additional projects Midco has committed to in 2024. This should reduce the money needed to complete the buildout and give us a better idea of the amount the City will need to set aside for future grants CIP Committee Funding Request Committee Chairman Wilmers attended the September 6, 2023, City Council Work Session to advocate for the restoration of the IAC initial funding request for 2024 and 2025 of $250,000 per year. The council was receptive to his comments, understanding the money is a placeholder for future matching funds towards a large project using the newly released BEAD funds. Council is looking for a revised funding request once the BEAD grant program requirements are known. BEAD Draft Program Documents DEED is looking for public comments on the upcoming BEAD program. Chairman Willmers asked that I include the PDF documents related to this item in your packet for your review and comment. Project Financing Spreadsheet Review Councilmember Kronmiller will provide any updates he might have on this topic. IAC Charter Discussion At the July IAC meeting, the Committee proposed changes to the IAC Charter. The Committee made changes to the Purpose and Goals sections of the Charter. The new language is updated and included in the attached Updated Charter. This item was tabled in August due to the length of the meeting. Next Areas for Expansion This has been a Committee chair-led discussion. Staff has nothing to add at this time. 2 Items For Future Discussion