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SPECIAL FINANCE COMMITTEE Meeting Minutes May 12, 2026, Regular Meeting The meeting was called to order by Councilor Jack Sweeney at 5:00 pm on May 12, 2026, in Government Center Room 270. 1 ROLLCALL PRESENT: Jack Sweeney, Tylor Elm, and Mike Herrick, CITY STAFF PRESENT: Nick Rhinehart (Finance Director), Jason Serck (Planning, Port & Economic Development Director) VIRTUAL: Nick Retzlaff (Easyliving) Deanna Erickson (LSNERR) OTHERS PRESENT: Shelley Nelson 4 NEW BUSINESS 4.1 Amendment No. 1 to Land Lease Agreement – Lake Superior National Estuarine Research Reserve (LSNERR) Motion was made by Tylor Elm, seconded by Mike Herrick, to approve the LSNERR Land Lease Agreement Amendment and add a Consumer Price Index (CPI) increase tied to Midwest Index Starting in 2027 4.2 Amendment to Service Agreement – Nemadji Mobile Home Park and Campground Motion was made by Tylor Elm, seconded by Mike Herrick, to approve the Nemadji Mobile Home Park and Campground Service Agreement Amendment 6. ADJOURNMENT The meeting was adjourned at 6:07 p.m. Minutes respectfully submitted by Nick Rhinehart