The balance of the fund grew, but officials wanted to implement changes to further decrease the risk involved in assisting ventures. After the 2002 mayoral election, a 3-man committee was appointed by Mayor Curt Zimbelman to study issues such as repeat failure to meet job creation targets with no clear penalties for such actions and the conditions that MAGIC Fund grants were disbursed under being ignored and to create a new set of guidelines. The new guidelines were officially approved by the city council.