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HomeMy WebLinkAbout2025-03-10 EDA Meeting Packet-Special Meeting AGENDA MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITY SPECIAL MEETING 5:00 P.M. Monday,March 10, 2025 City Hall, Council Chambers CONCURRENT MEETING WITH THE MAPLEWOOD CITY COUNCIL MANAGER WORKSHOP A. CALL TO ORDER B. ROLL CALL C. APPROVAL OF AGENDA D. APPROVAL OF MINUTES 1. February 10, 2025 Economic Development Authority Special Meeting Minutes E. PUBLIC HEARING None F. UNFINISHED BUSINESS 1. Economic Development Strategy G. NEW BUSINESS 1. Resolution Approving Transfer from EDA General Fund to Future Local Housing Trust Fund H. ADJOURNMENT RULES OF CIVILITY FOR THE CITY COUNCIL, BOARDS, COMMISSIONS AND OUR COMMUNITY Following are rules of civility the City of Maplewood expects of everyone appearing at the Meetings - elected officials, staff and citizens. It is hoped that by following these simple rules, everyone’s opinions can be heard and understood in a reasonable manner. We appreciate the fact that when appearing at Council meetings, it is understood that everyone will follow these principles: Speak only for yourself, not for other council members or citizens - unless specifically tasked by your colleagues to speak for the group or for citizens in the form of a petition. Show respect during comments and/or discussions, listen actively and do not interrupt or talk amongst each other. Be respectful of the process, keeping order and decorum. Do not be critical of council members, staff or others in public. Be respectful of each other’s time keeping remarks brief, to the point and non-repetitive. THIS PAGE IS INTENTIONALLY LEFT BLANK D1 MEETING MINUTES MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITYSPECIAL MEETING 5:00P.M. Monday, February 10, 2025 City Hall, Council Chambers CONCURRENT MEETING WITH THE MAPLEWOOD CITY COUNCIL MANAGER WORKSHOP A.CALL TO ORDER A special meeting of the Maplewood Economic Development Authority (EDA)was heldin the City Hall Council Chambers and was called to order at5:04 p.m. by President Abrams. B.ROLL CALL Marylee Abrams, PresidentPresent Rebecca Cave, Vice PresidentPresent Kathleen Juenemann, CommissionerPresent Chonburi Lee, CommissionerPresent Nikki Villavicencio,CommissionerPresent C.APPROVAL OF AGENDA CommissionerLeemoved to approve the agendaas submitted. Seconded by CommissionerJuenemann Ayes – All The motion passed. D.APPROVAL OF MINUTES 1.January13, 2025, Economic Development AuthorityMeeting Minutes CommissionerJuenemannmoved to approve the January 13, 2025 Economic Development Authority Meeting Minutes as submitted. Seconded by Commissioner Cave Ayes – All The motion passed. E.PUBLIC HEARING None F.UNFINISHED BUSINESS None. G.NEW BUSINESS 1.Economic Development Strategy February 10, 2025 Maplewood Economic Development AuthoritySpecial Meeting Minutes 1 EDA Packet Page Number 1 of 9 D1 Executive DirectorSable introduced the item. Breanne Rothstein, ThriveInc.Consultant, gave the presentation. Executive DirectorSableand Assistant Executive Director Parr provided additional information. The commission discussed the item, asked questions, and shared ideas. No action required. H.ADJOURNMENT President Abramsadjourned the meeting at6:23p.m. February 10, 2025 Maplewood Economic Development AuthoritySpecial Meeting Minutes 2 EDA Packet Page Number 2 of 9 F1 MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITYSTAFF REPORT Meeting Date March 10, 2025 REPORT TO:Michael Sable, Executive Director REPORT FROM: Danette Parr, Assistant Executive Director PRESENTER:Breanne Rothstein, Thrive Consultant AGENDA ITEM: Economic Development Strategy Action Requested: MotionDiscussion Public Hearing Form of Action: Resolution OrdinanceContract/Agreement Proclamation Policy Issue: The Maplewood Economic Development Authority (EDA) is continuing the ongoing discussion around the creation of the Maplewood Economic Development Strategy. Recommended Action: No action is necessary. Fiscal Impact: Is There a Fiscal Impact? No Yes, the true or estimated cost is $0.00 Financing source(s): Adopted Budget Budget Modification New Revenue Source Use of Reserves Other: n/a Strategic Plan Relevance: Community InclusivenessFinancial & Asset MgmtEnvironmental Stewardship Integrated CommunicationOperational EffectivenessTargeted Redevelopment The city supports development and the leveraging of resources to expand the tax base while meeting the diverse needs of the community. In addition, the city promotes quality housing, commercial development, and business growth. Background: In August 2024 the EDA started discussing its role and the opportunities that exist for economic development in the City of Maplewood. On February 10, 2025, a concurrent meeting was held with the City Council for additional discussion around economic development opportunities. The March 10th discussion, facilitated by Breanne Rothstein, with Thrive, will introduce ideas related to a future mission, vision and values around economic development in Maplewood. Attachments: None EDA Packet Page Number 3 of 9 For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Economic Authority Development Presentation March 10, 2025 For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment 2 Vision Overview MissionNext Steps Values Sample Footer Text I.II.III.IV. For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Planning Examine role economic development plays in growing tax base Review tools available to support housing and economic developmentDetermine preferred uses of new Local Affordable Housing Aid (LAHA) dollarsUnderstand partnership opportunities and leveraging outside resourcesCreate a business subsidy policyEstablish long term priorities and strategiesDetermine value of various funding sourcesDiscussion on development sites and their potential Purpose of EDA Strategic For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Strategic Planning For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Programs White Wall/Board with Post Its Will record and keep a running list Parking Lot for Policies and For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Making a positive difference in the What is your ÐwhyÑ? communityTo be a voice for the community Keep Maplewood thrivingOffer a historical perspectiveUse professional and lived experience to keep the city a great place to live, work, and visitOffer another perspective Îdiverse viewpoint to make better policies that foster economic growth and build a connect and resilient community where all are welcome For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment ? What was on your mind when you filled out the survey For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Sample Footer Text 8 For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Îyour reason for Îhow we do the work, Îa mid-range, envisioned Definitions Values principles we employ (one or two words)Mission existence, who you are, what you do (timeliness). Verb or actions Vision future, an end state. Aspirational in reach. No verbs. For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment How we do the workPrinciples we employOne or two word nouns Examples:IntegrityCollaborationInnovationConnection What are Values? For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Results of Survey: Values For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Values Exercise For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Your reason for existenceWho you are, what you doGenerally doesnÓt changeActions or verbs Examples We build collective power and capacity among CDFIs to create strong and effective ways to bring capital, ideas, and tools to communitiesInspire and nurture the human spirit Îone person, one cup and one neighborhood at a timeHelp all families discover the joy of everyday life Mission For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment economic development.business development.redevelopment initiatives.transparency, and audits. ¤Minnesota Statutes Chapter 469¤Acquire and sell property for ¤Provide loans and grants for ¤Facilitate housing projects and ¤Issue bonds to fund projects.¤Subject to state laws, public Statutory Basis:Powers and Duties:Accountability: Statutory Role of Minnesota EDAs For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment sanitary dwellingsareaslow/moderate income residentstransparency, and audits. ¤Minnesota Statutes Chapter 469¤Provide adequate, safe and ¤Clear and redevelop blighted ¤Remedy shortage of housing for ¤Subject to state laws, public Statutory Basis:Powers and Duties:Accountability: Statutory Role of Minnesota HRAs For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Results of Survey: Mission The EDA plays a critical role in facilitating economic development and redevelopment efforts in our community, including supporting housing and businessesThe EDA provides economic development opportunities to businesses and developersThe EDA is responsible for evaluating and recommending housing and commercial projects for tax base value, appropriate land use, and alignment with community goals Îcan also levy for fundingThe EDA is an entity within city government that focuses on economic and community development. It provides city-wide direction and resources for businesses and financial support for developmentThe EDA (made up of City Council) carries out economic development and redevelopment efforts to grow tax base, create jobs, and support the creation of a variety of housing options, as well as retail, industrial, commercial and entertainment options in the cityThe EDA helps developers and businesses be successful in bringing projects and ideas to life, through experience and expertise, money and resources and collaboration to grow and expand the cityÓs economic and housing options For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Examples The City of Burnsville and the Burnsville Economic Development Commission aim to pursue the continued growth and sustainability of the city's vibrant economy. They focus on leveraging Burnsville's strengths to position the city for future success as a regional draw for entertainment, outdoor activity, and business, while providing a mix of quality housing options and embracing entrepreneurship.The St. Cloud EDA is dedicated to enhancing the city's economic vitality and expanding its tax and employment base, offering assistance in site selection, financing resources, and business developmentThe Shoreview EDA's mission is to facilitate economic growth by supporting existing businesses, fostering reinvestment in residential neighborhoods and commercial areas, and promoting the creation of new business, employment, and housing opportunities. These efforts aim to sustain and enhance the City of Burnsville EDASt. Cloud EDACity of Shoreview EDA For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Suggested Mission Statement To enhance the city's tax base, create diverse job opportunities, and support a dynamic mix of uses in the built environment. By being nimble and responsive, and through leveraging partnerships with developers, businesses, and the community, we show leadership and a proactive approach towards development and re-development. For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment È y the most compelling car company of the 21st A mid-range, envisioned futureDescribes what will be, end stateAspirational/reachNo verbsto be the world's best quick service restaurant experienceto be EarthÓs most customer-centric company, where customers can find and discover anything they might want to buy onlineÈcentur Examples Vision For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Results of Survey: Vision A stronger tax baseA community that caresA variety of housing options Îtrue life cycle housingA thriving Mall in a new wayThe best redevelopment and new businessesRe-development of Moose LodgeRe-development of retail parcel on NW corner of Frost and EnglishRealization of North End PlanThe city as a champion opportunities for allAdaptable, easier development process ÎEDA working like a Swiss Army knifeA strong partner to inspire reinvestment in housing and taking pride in their neighborhoods50,000 in population and $250M a year in new development For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment hborhoods g nei g ride in their thrivin p g Clean sustainable waterA better, more sustainable future for generations to comeA collaborative leader and example in environmental stewardship Protect and preserve nature for future generations of people and ecosystems into their homes -and takin y I would like Maplewood to have a stronger tax base than when I joined the Council. I want Maplewood to look like we care about our community. I want to see a variety of housing options and the creation of true life cycle living for everyone. I want to see the Mall thriving in a new way than its original design for retail.Working with our Community Development office to locate the best opportunities for redevelopment and possible new business within our area. Before I leave the council I hope we have a developer for the Moose Lodge property, have a development plan for the retail parcel on the NW corner of Frost and English, and have, at least, a minor start on our North End Plan.By the time I leave the Maplewood EDA/Council, I want the city to be a champion in facilitating, enabling and fostering opportunities for all. Having an array of tools to make development easier to happen in Maplewood. Being seen as a strong partner in making things happen. Getting to 50,000 in population faster than any other Ramsey County suburbs. $250 million in development in one calendar year. Helping convert one portion of the Mall to something else. EDA working like a Swiss Army knife -able to adapt and make things happen. Inspire a reinvestment Maplewood Housing -people putting mone For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment "Develop a 'sense of community' within the City that would foster community vitality."To be a driving force in the development of a vibrant, sustainable, and inclusive community by fostering economic growth, job creation, and innovation that benefits all of DuluthÓs residents.Ð"a prosperous, vibrant community with diverse economic opportunities for residents and businesses by fostering a competitive environment for investment and innovation." Pine Island EDACity of Duluth EDACity of Brooklyn Park EDA Vision Examples For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment Proposed Vision Statement Avibrant, thriving community where development provides a strong, diverse tax base, and a variety of housing options. Achampion of opportunityÏfacilitating growth, supporting businesses, and creating a city that reflects care and pride in itÓs future. For the permanent record: Meeting Date: 3/10/2025 Agenda Item F1, Additional Attachment 24 Move Forward with Strategies and Tactics Council Presentation and PriorizationDiscussion ÎMay 27 Written updates to Council in April and May; Verbal Update at April Quarterly EDA Meeting Working Mission, Vision, ValuesÎTonight, March 10 IV. Next Steps G1 MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITYSTAFF REPORT Meeting Date March 10, 2025 REPORT TO:Michael Sable, Executive Director REPORT FROM: Danette Parr, Assistant Executive Director PRESENTER:Danette Parr, Assistant Executive Director AGENDA ITEM: Resolution Approving Transfer from EDA General Fund to Future Local Housing Trust Fund Action Requested: Motion Discussion Public Hearing Form of Action: Resolution Ordinance Contract/Agreement Proclamation Policy Issue: The transfer of funds will support a future revolving loan fund for a housing rehabilitation program to support reinvestment and increase home values within the city. Recommended Action: Motion to approve the resolution authorizing the transfer of $300,000 from the Maplewood Economic Development Authority’s general fund to the future City of Maplewood local housing trust fund. Fiscal Impact: Is There a Fiscal Impact? No Yes, the true or estimated cost is $300,000 Financing source(s): Adopted Budget Budget Modification New Revenue Source Use of Reserves Other: These funds would be allocated from the EDA general fund to support economic development efforts as part of a future revolving loan program for housing rehabilitation Strategic Plan Relevance: Community Inclusiveness Financial & Asset Mgmt Environmental Stewardship Integrated Communication Operational Effectiveness Targeted Redevelopment The transfer of funds to a future local housing trust fund will support economic development by promoting residential reinvestment and enhancing energy efficiency efforts. Background: The EDA has expressed a desire to support reinvestment in our current housing stock. A recent grant opportunity through MN Housing would allow the City of Maplewood to apply for a matching grant to assist in this effort. A requirement of the grant program is that the City must adopt an ordinance establishing a local housing trust fund and provide funds to support the future housing rehabilitation program. Staff will be providing an overview of the rehabilitation program and recommending the City Council adopt the ordinance establishing a Local Trust Fund at the March EDA Packet Page Number 4 of 9 G1 th 10meeting.Additionally, as part of the requirement, moniesmust be transferred into the fund in advance of submitting the grant application to MN Housing. If the EDA approves the transfer of $300,000 to the future local housing trust fund, it would allow the city an opportunity to leverage these funds to potentially receive up to $225,000 of additional funding from MN Housing to support the future housing rehabilitation program. An overview of the proposed housing rehabilitation program is attached. Once we receive confirmation regarding the grant funding, staff plans to bring the program back to the EDA to solidify the details. Attachments: 1.Resolution Approving Transfer of Funds 2.Maplewood Home Improvement Program Overview EDA Packet Page Number 5 of 9 G1, Attachment 1 CITY OF MAPLEWOOD RESOLUTION NO. ____________ RESOLUTION AUTHORIZING TRANSFER OF $300,000 FROM THE MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITY’S GENERAL FUND TO THE CITY OF MAPLEWOOD LOCAL HOUSING TRUST FUND WHEREAS, Minnesota Statutes, section 462C.16 (the “Act”) authorizes cities to establish a local housing trust fund for the purposes specified in the Act; and WHEREAS, in accordance with the Act, the city of Maplewood (the “City”) has established the Maplewood Local Housing Trust Fund (the “Trust Fund”) by ordinance; and WHEREAS, the Trust Fund will be administered by the Maplewood Economic Development Authority (“MEDA”); and WHEREAS, the Trust Fund may be financed with funds from sources specified in the Act, including appropriations by a local government such as the City or MEDA; and WHEREAS, MEDA wishes to contribute to the Trust Fund to provide a portion of the funds which will be needed to support the housing initiatives implemented by the City and MEDA through the Trust Fund. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Maplewood Economic Development Authority as follows: 1.The Executive Director is hereby authorized and directed to transfer $300,000 from MEDA’s General Fund to the Trust Fund for the purposes authorized by the Act. 2.The Executive Director, the City’s Finance Director and other city staff and consultants are authorized and directed to take all other actions necessary or convenient to effect the intent of this resolution. th Adopted this 10 day of March, 2025. Marylee Abrams, President Michael Sable, Executive Director 1 MA745-1-1014138.v1 EDA Packet Page Number 6 of 9 G1, Attachment 2 Maplewood Home Improvement Program PROGRAM OVERVIEW: The City of Maplewood is offering home repair loans to residents to encourage home renovation and increase home values within the City. Current available dollars for loans are based on the fund balance for any given period. Loan Amount: The minimum loan amount is $5,000. The maximum loan amount is $25,000. Interest Rate & Loan Term: The City of Maplewood will set the interest rate at a below-market rate, and the monthly payment will be fixed. The maximum loan term is 20 years (depending on the loan amount). The loan is due upon sale, transfer of title, refinance, or if the property ceases to be owner-occupied. Loan Security: All loans will be secured by a mortgage in favor of the City of Maplewood. The loan may be secured in a subordinate lien position behind other loans in accordance with the city’s loan subordination policy (to be established). Borrower Eligibility: Credit: Standard underwriting criteria apply, including review of a credit report. Debt to Income Limit: Borrower's gross monthly debts cannot exceed 50% of gross monthly income. Income Limit: Income at or below 115% of the state median income. Property Eligibility: Single family (1-4 unit) detached and attached properties located within the City of Maplewood. Must be owner-occupied. Condominiums & townhouses, however, only individual interior repairs are eligible. The borrower's combined mortgage debt, including the Maplewood Loan, cannot exceed 100% of the property value based on the taxable market value as determined by Ramsey County for the current year. 65% of the amount of the Maplewood Home Repair Loan will be added to the current value in making this calculation. Applicants may also submit a third-party appraisal or market analysis that has been completed within the last 12 months. Such appraisal or market analysis is to be obtained by the applicant at their expense. Borrower's existing first mortgage must be a prime/A-rated fixed-rate mortgage loan. EDA Packet Page Number 7 of 9 G1, Attachment 2 Properties that are governed by an active Homeowner's Association must receive written approval for planned exterior improvements in accordance with the guidelines of this loan program and association by-laws and/or covenants. Eligible Improvements: Improve the conditions of the exterior of the home, including, but not limited to, roofs, siding, windows, driveways, structural retaining walls, existing fences, and other components of the property; Improve handicap accessibility; and/or Improve energy efficiency (insulation, water heater, mechanical improvements, windows etc.) Ineligible Improvements: Recreational/luxury improvements, working capital, debt service or refinancing of existing debts. APPLICATION & LOAN DISBURSEMENT PROCESS: Do not sign any contracts or start your project until a closing has taken place. Any project begun before a loan closing has taken place will be ineligible for participation in the program. Homeowner Association By-Laws & Covenants: Loan applicants from single-family attached or zero-lot line detached homes with an active Homeowner’s Association will be required to provide written approval from the Homeowner’s Association certifying the exterior improvements to be funded through this loan program are permissible under governing by-laws and/or covenants of the association. The City of Maplewood and representative agencies associated with the administration of this program are not liable or responsible for any violations of association by-laws and/or covenants by the applicant for improvements undertaken through this loan program. Application Process: Completed applications will be processed on a first-come, first-served basis, as funds are available until all program funds are committed. After loan approval, borrowers will be contacted regarding a closing to sign a Promissory Note, Mortgage, and Subordination disclosure. Loan Costs: Borrowers will be charged a credit report fee at the time of application. The title policy fee may be financed through the loan. The recording fees to Ramsey County will be paid by the borrower at closing. Contractors & Permits: Contractors must be properly insured and licensed by the State of Minnesota when required. Permits must be obtained when required by city code. Two bids are required for work that exceeds $5,000. Borrowers must attain the required bids. Work by Owner: Work can be performed on a sweat equity basis. Loan funds cannot be used to compensate for labor, only for materials. The city representative must determine that the EDA Packet Page Number 8 of 9 G1, Attachment 2 owner has the ability to complete the work according to industry standards and within the program time requirements. The cost of purchasing tools and equipment and the delivery of materials are ineligible expenditures. Materials must be purchased and installed prior to the disbursement of loan proceeds. When applicable, the borrower must obtain a signed building permit. Total Project Cost: It is the borrower’s responsibility to obtain the funds necessary to finance the entire cost of the work. If the final cost exceeds the loan amount, the borrower must obtain additional funds. The borrower’s contribution to project cost must be paid prior to the release of loan funds. Work Completion: Weather permitting, work must be completed within 120 days of loan closing. Disbursement Process: Loan funds will remain in escrow until payment for completed work. The following items must be received before the funds can be released: 1.Final Invoice from each contractor showing all amounts paid and due. 2.W-9 from each contractor prior to payment. 3.Lien Waiver signed by each contractor. 4.Completion Certificate signed by each contractor and the borrower. 5.Permits Closed. Have the inspector sign the permit card. 6.Final Inspection. Homeowners are required to attain and submit the above-required documentation. It may take up to 10 business days after receipt of the above items to prepare checks. Program Disclaimer: The City of Maplewood maintains the right to at any time change or discontinue the Maplewood Home Improvement Loan Program. The potential changes may impact the maximum/minimum loan amount, loan term, interest rate, and/or qualifications for borrower, property and improvement eligibility. EDA Packet Page Number 9 of 9 For the permanent record: Meeting Date: 3/10/2025 Agenda Item G1, Additional Attachment Maplewood EDA -March 10, 2025 For the permanent record: Meeting Date: 3/10/2025 Agenda Item G1, Additional Attachment n o i t a r e d i s n o Authorizing the transfer of $300,000 from the EDA general fund to the future Local Housing Trust Fund ¤ C For the permanent record: Meeting Date: 3/10/2025 Agenda Item G1, Additional Attachment n o i t a z i r o h t u A f o s t i f e n e Establishes dedicated funds that can be used for eligible programs to support quality housing in the City of Maplewood Allows for maximum matching potential from the MN Local Housing Trust Fund Program: B ¤¤ For the permanent record: Meeting Date: 3/10/2025 Agenda Item G1, Additional Attachment m a r g o r P t n e m e v o r p m I e m o H d o o w e l Roofs, siding, windows, driveways, structural retaining walls, existing fences, and other components of the property; and orInsulation, water heater, mechanical improvements, windows, etc.) p ¤¤ a Improve the conditions of the exterior of the home: Improve handicap accessibilityImprove energy efficiency: M¤¤¤(Eligible projects would not include recreational or luxury improvements) For the permanent record: Meeting Date: 3/10/2025 Agenda Item G1, Additional Attachment n o i t o M d e d n e m m o c e Motion to approve the resolution authorizing the transfer of υЌЉЉͲЉЉЉ ŅƩƚƒ ƷŷĻ 95!͸ƭ ŭĻƓĻƩğƌ ŅǒƓķ Ʒƚ ƷŷĻ ŅǒƷǒƩĻ \[ƚĭğƌ IƚǒƭźƓŭ Trust Fund. 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