EDA Agenda 06-12-2019AGENDA
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, June 12th, 2019 — 6:00 p.m.
Mississippi Room, Monticello Community Center
Commissioners: President Steve Johnson, Vice President Bill Tapper, Treasurer Jon
Morphew, Tracy Hinz, 011ie Koropchak-White and Councilmembers
Lloyd Hilgart and Jim Davidson
Staff: Executive Director Jim Thares, Jeff O'Neill, Angela Schumann, Wayne Oberg and Jacob
Thunander
1. Call to Order
2. Roll Call
3. Consideration of additional agenda items
4. Consent Agenda
a. Consideration of approving Regular Meeting Minutes — May 8, 2019
b. Consideration of approving Special Meeting Minutes — May 29, 2019
c. Consideration of approving payment of bills
Regular Agenda
5. Consideration of Fa�ade Improvement Program Grant for 142 West Broadway
6. Consideration of Rivertown Residential Suites' Apt. Development Exterior Elevation
7. Consideration of Preliminary Development Agreement with Beard Group, Inc. for
prospective Block 52 Redevelopment Proj ect
8. Director's Report
9. Closed Session — Consideration of recessing to closed session to develop or consider
offers or counter-offers for the purchase or sale of real or personal property pursuant to
Minnesota Statute 13D.05, Subdivision 3(c)(3).
Property Address: 101 West Broadway Street - PID #155010052090
Property Address: 107 West Broadway Street — PID #155010052070
Property Address: 121 Broadway Street — PID #155010052031
10. Adj ourn
MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, May 8th, 2019 — 6:00 p.m.
Mississippi Room, Monticello Community Center
Commissioners Present
Commissioners Absent:
Staff Present:
1. Call to Order
Steve Johnson, Jon Morphew, Tracy Hinz, 011ie Koropchak-
White, Lloyd Hilgart, and Jim Davidson
Bill Tapper
Jim Thares
Steve Johnson called the meeting of the EDA to order at 6:00 p.m.
2. Roll Call
3. Consideration of additional a�enda items
None.
�
4. Consent A�enda
TRACY H1NZ MOVED TO APPROVE THE CONSENT AGENDA. JON MORPHEW
SECONDED THE MOTION. MOTION CARRIED, 6-0.
a. Consideration of approvin� Re�ular Meetin� Minutes — April 10, 2019
Recommendation: Approve Regular Meeting Minutes — April 10, 2019.
b. Consideration of approvin� Special Meetin� Minutes — April 10, 2019
Recommendation: Approve Special Meeting Minutes — April 10, 2019.
c. Consideration of approvin� Special Workshop Meetin� Minutes — April 25,
2019
Recommendation: Approve Special Workshop Meeting Minutes — Apri125, 2019.
d. Consideration of approvin� pavment of bills
Recommendation: Approve payment of bills through April, 2019.
Re�ular A�enda
5. Consideration of Block 52 Soil Borin� Quotes
Jim Thares explained that the EDA authorized staff to solicit bids for soil borings on
Block 52. The borings would be helpful for any redevelopment efforts especially as it
relates to understanding the potential for or limitations of underground parking. Chosen
Valley Testing out of Eden Valley was the low bidder at $5,655.
Jon Morphew asked if there were any concerns with this company completing the work.
Thares declined stating that they completed the borings at the fire station site recently
with all work satisfactorily performed.
Economic Development Authority Minutes — May 8�', 2019 Page 1 � 3
OLLIE KOROPCHAK-WHITE MOVED TO AUTHORIZE THE LOWEST
QUALIFIED QUOTE (CHOSEN VALLEY TESTING, EDEN VALLEY, MN) FOR
GEO-TECHNICAL SERVICES FOR BLOCK 52. JON MORPHEW SECONDED THE
MOTION. MOTION CARRIED, 6-0.
6. Consideration of Authorizin� Ne�otiations for Lease of EDA Owned Propertv - PID
#155033900010
Jim Thares introduced the item to the EDA. He explained that staff received a inquiry
regarding a possible lease of an EDA owned parcel, known as Country Club Manor,
located along 7th Street West and adjacent to I-94, to be used on an interim basis for a
batch plant and staging area for contractors working on the upcoming I-94 improvement
proj ect. The proj ect will increase I-94 to from two land to three from Monticello to
Clearwater. Currently, the use is not allowed by the Zoning Ordinance and would require
City Council approval.
City Staff compiled a list of questions to ask the contractor interested in the site. The
contractors would use the site from March, 2020 through December, 2021 from 6 a.m. to
8 p.m. Initial site preparations would consist of removing some topsoil and trees and
replacing that with an aggregate base. Following completion of the project, the aggregate
would be removed and the soil would be seeded back to grass.
Daily use of the site during the construction seasons would consist of approximately 400
loads of materials be brought to the site via CSAH 25, 7th Street, County Road 39, and
Chelsea Road. A portion of the project will allow direct access to I-94 west bound lanes
for that stretch of work The contractor of interest, Michels Construction, WI, provide
answers to all questions including: noise, dust emissions, lighting and site safety.
Lloyd Hilgart expressed concerns with the with potential for a disruptive impact to the
local neighborhood. He noted that the proposed lease amount of $30,000 to $50,000 per
year is relatively low when measured against the various problems that may arise with the
use.
Jon Morphew expressed that the EDA if interested at all in this proposal should consider
it from its mission of Economic Development and land owner, versus as a land use body
which is the role of the Planning Commission. He stated that if the EDA indicates a
willingness to consider a lease agreement with Michels, the Planning Commission should
then hold the required public hearing(s) followed by the City Council's action and then
the EDA would be in a position to review a possible lease agreement.
JON MORPHEW MOVED TO TABLE AUTHORIZATION OF NEGOTIATIONS FOR
LEASE OF EDA OWNED PROPERTY ALONG 7TH STREET WEST (PID #
155033900010) WITH INTERESTED CONTRACTORS AND/OR MN-DOT AS A
TEMPORARY CONSTRUCTION RELATED ACTIVITY OR STAGING SITE
DURING THE I-94 IMPROVEMENT PROJECT FOR FURTHER RESEARCH
AND/OR DISCUSSION. LLOYD HILGART SECONDED THE MOTION. MOTION
CARRIED, 6-0.
Economic Development Authority Minutes — May 8�', 2019 Page 2 � 3
7. Director's Report
Jim Thares provided the Economic Development Director's Report. He started the item
by reviewing the WSB Economic Development Assistance update as provided in the
agenda. He also provided information about River Town Residential Suites and the
prospect list.
He noted that the GMEF loan closing for Monticello RV occurred on April 30th. Thares
invited the EDA to their groundbreaking on May 15th at noon. Thares then discussed the
potential of a special EDA meeting to discuss Block 52 on May 29th or 30tn
8. Closed Session — Consideration of recessin� to closed session to develop or consider
offers or counter-offers for the purchase or sale of real or personal propertv
pursuant to Minnesota Statute 13D.05, Subdivision 3(c)(3).
Propertv Address: 300 - 4th Street East - PID #155-019-008010
9. Adiourn
TRACY H1NZ MOVED TO ADJOURN THE MEETING AT 6:34 P.M. OLLIE
KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED, 6-0.
Recorder: Jacob Thunander
Approved: June 12, 2019
Attest:
��_ —
Jim Thares, Economic Development Director
��
Economic Development Authority Minutes — May 8�', 2019 Page 3 � 3
EDA Agenda: 6/12/19
4d. Consideration of approvin� pavment of bills (JT)
A. REFERENCE AND BACKGROUND:
Accounts Payable summary statements listing bills submitted during the previous month
are included for review.
B. ALTERNATIVE ACTIONS:
Motion to approve payment of bills through May, 2019.
2. Motion to approve payment of bills through May, 2019 with changes as directed
by the EDA.
C. STAFF RECOMMENDATION:
Staff recommends approval of Alternative #1.
D. SUPPORTING DATA:
A. Accounts Payable Summary Statements
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Total ,'5�r�ri��s:
Tota�l S�rvac�s and Disbur�emerlts; $ 44€3,0(}
Julie Cheney
From: Jim Thares
Sent: Tuesday, May 7, 2019 9:54 AM
To: Julie Cheney
Subject: RE: Kennedy & Graven (4)
Julie, these are all okay. Please code to: 213-46301-430400
From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us>
Sent: Tuesday, May 7, 2019 9:34 AM
To: Jim Thares <Jim.Thares@ci.monticello.mn.us>
Subject: FW: Kennedy & Graven (4)
Jim — Following up on these invoices. I would like to include in our check run tomorrow. Thanks!
From: Julie Cheney
Sent: Wednesday, May 1, 2019 3:42 PM
To: Jim Thares <Jim.TharesC�ci.monticello.mn.us>
Subject: Kennedy & Graven (4)
Jim
Attached are the following invoices from Kennedy & Graven:
#MN325-00038 —112 W River St - $371.75
#MN325-00041—GMEF Loan - $1,120.00
#MN190-00101—General EDA-$400.00
#MN190-00159 — Block 52 - $437.00
Okay to pay? Please provide coding for each.
Thanks,
_IuCie C(�eney
Finance Assistant
City of Monticello
763-271-3205
Julie.CheneyC�ci.monticel lo.mn.us
APC�ci.monticel lo.mn.us
[�ary f�F
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� 437,Q�
Tc�tal �ervices .and Di�k�ur��rner�ks: � 437.{�D
Julie Cheney
From: Jim Thares
Sent: Tuesday, May 7, 2019 9:54 AM
To: Julie Cheney
Subject: RE: Kennedy & Graven (4)
Julie, these are all okay. Please code to: 213-46301-430400
From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us>
Sent: Tuesday, May 7, 2019 9:34 AM
To: Jim Thares <Jim.Thares@ci.monticello.mn.us>
Subject: FW: Kennedy & Graven (4)
Jim — Following up on these invoices. I would like to include in our check run tomorrow. Thanks!
From: Julie Cheney
Sent: Wednesday, May 1, 2019 3:42 PM
To: Jim Thares <Jim.TharesC�ci.monticello.mn.us>
Subject: Kennedy & Graven (4)
Jim
Attached are the following invoices from Kennedy & Graven:
#MN325-00038 —112 W River St - $371.75
#MN325-00041—GMEF Loan - $1,120.00
#MN190-00101—General EDA-$400.00
#MN190-00159 — Block 52 - $437.00
Okay to pay? Please provide coding for each.
Thanks,
_IuCie C(�eney
Finance Assistant
City of Monticello
763-271-3205
Julie.CheneyC�ci.monticel lo.mn.us
APC�ci.monticel lo.mn.us
[�ary f�F
�_�� �� ��r��i��ll�
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fin�Lz� ��d cir��l�t� I�an �iocurnerts.
Tc�tal �etvices
Total 5ervi�es and �ish�ur�em�n��: $ 9,i2Q.4�N
Julie Cheney
From: Jim Thares
Sent: Tuesday, May 7, 2019 9:54 AM
To: Julie Cheney
Subject: RE: Kennedy & Graven (4)
Julie, these are all okay. Please code to: 213-46301-430400
From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us>
Sent: Tuesday, May 7, 2019 9:34 AM
To: Jim Thares <Jim.Thares@ci.monticello.mn.us>
Subject: FW: Kennedy & Graven (4)
Jim — Following up on these invoices. I would like to include in our check run tomorrow. Thanks!
From: Julie Cheney
Sent: Wednesday, May 1, 2019 3:42 PM
To: Jim Thares <Jim.TharesC�ci.monticello.mn.us>
Subject: Kennedy & Graven (4)
Jim
Attached are the following invoices from Kennedy & Graven:
#MN325-00038 —112 W River St - $371.75
#MN325-00041—GMEF Loan - $1,120.00
#MN190-00101—General EDA-$400.00
#MN190-00159 — Block 52 - $437.00
Okay to pay? Please provide coding for each.
Thanks,
_IuCie C(�eney
Finance Assistant
City of Monticello
763-271-3205
Julie.CheneyC�ci.monticel lo.mn.us
APC�ci.monticel lo.mn.us
[�ary f�F
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To#�I ��rvi�es:
Tot�l 5ervices arad Di�t�ursements; $ �71.75
Julie Cheney
From: Jim Thares
Sent: Tuesday, May 7, 2019 9:54 AM
To: Julie Cheney
Subject: RE: Kennedy & Graven (4)
Julie, these are all okay. Please code to: 213-46301-430400
From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us>
Sent: Tuesday, May 7, 2019 9:34 AM
To: Jim Thares <Jim.Thares@ci.monticello.mn.us>
Subject: FW: Kennedy & Graven (4)
Jim — Following up on these invoices. I would like to include in our check run tomorrow. Thanks!
From: Julie Cheney
Sent: Wednesday, May 1, 2019 3:42 PM
To: Jim Thares <Jim.TharesC�ci.monticello.mn.us>
Subject: Kennedy & Graven (4)
Jim
Attached are the following invoices from Kennedy & Graven:
#MN325-00038 —112 W River St - $371.75
#MN325-00041—GMEF Loan - $1,120.00
#MN190-00101—General EDA-$400.00
#MN190-00159 — Block 52 - $437.00
Okay to pay? Please provide coding for each.
Thanks,
_IuCie C(�eney
Finance Assistant
City of Monticello
763-271-3205
Julie.CheneyC�ci.monticel lo.mn.us
APC�ci.monticel lo.mn.us
[�ary f�F
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7�.00 Total E�rned �.25Q.C10
PrBvious Fee 8iNling 1.50�.00
�urr�nk Fe� �illing 75p,�1�
Total Fea 75�.40
Tc�tal this Task �7��.{�0
Total tMi� Phase $�50,0�
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AI�TH�RIZE� BY, .
C�ATE; _ _ .�� � ��
�
��'`��;'i+'G�#��, f;
.:;��.,,, s���� s��,w,, .
p�dnrran�g � dew�dv�ar»e+at r jeo5,6,��ay rrrip;errrrr[ma�ur
Tangible �onsufzing5er+�iees
�6�2 3$Lh.A�u�nue �out�
�rlinne�polis, MN 55��16
70;
Jim Thares
54]5 1�1+alrru� ��reet, 5uite #1
N1oE-tCicello, f+�ahl 5536�
Q ll A7�1 TIT�f'
INV[�ICE #; 351
Invoiee �a�e: i]ecember 5. 2��8
�For work campl�et�d in N4verrrber�018j
P RC.�J EC'f:
Block 52 �e�elv�ment
,4nchor �iestaurant Se�arch
D�S�f31Pfi10N
8� � � ��ours �or�sulting Tim� � T��m�� Le��h�on
t�ver��� beyond �es��n#r�C� fee limi#
��,���1.
Paym�nt Reque�t�d Wi�khin �� Rays To�
Ta+�gible Consuitrng Ser�ices
�55� 38"',�uer�u2 South
Mirin��p�les, M�9hJ 554�36
1
UNdT RRICE
5��.�7
Pay T�his
Am�unt
�ir+�[t �#I� Inq�iries T[a:
fihnma� Leightrn
61Z-�98-6559
dorn[ ta.n�it�lec�rnsulti n�.cvm
�nn�o � r�r
5��3,3�
I;�'I�;; c::�jl
' . �� :�'C1I J3I, E
c<.��x��., :� {��„�..
Qecember 5, 2018
Mr, Thar��:
This es � final �nvoice relati�+� ta our work f�e yvu an pra�rs�uing a e€e5#inativn ar�cF��r res�aurartit �►r
be�v�pub t�nant fear Nlantu�ella`s Bf�ck 5� de�relcaprrrent� �.�,'e cc�ntacted several mor� rest�urateurs in
N[�vember, resultirrg ir� a sm�ll 3�et t5F �andi�at� restaur�nts #h�t you mi�h# foll€�v� up v�+�th.
I`v�e sumrn�r�ae�d the status c�f �II of our ��utr�ach :n a separat� errrail. I 5ti�l int�nd ta provide you � bi#
rrsvre ir�formation� at�e�ut where +n�e !�ft �ff irr conuersa#i�r�5 wu�th th� c�ndidate r�estaur�nt�.
ihank y�ou very much for enlisting aur �upp�rt fvr this proje,et!
�est,
���
Thom�s Le�ghtvn, lilCp, EDFP
Tang��ao€ Cansulting Serv�CeS
612-� �8-F, 559
to m�ta rs gi� I�eo n s u It�n�. � ur�i
w ww.�.tar��i b li�� n s u It�ng. eonr
�dannrrtg t dewetupm�Rt + {��rsrbi�rCV � rrr�p�emer�tairo�r
Julie Chene
Frvrn: 1uli� �hene;�
5ent: Moa�day, N1a� �, ��1� �;35 Ahr1
To: Jirn Th��re�
�ubject: RE� Mca�#i�efl� Rest�urant Ar7chor - bil ling
�
N�[ se��� �,vhat ha��en��6. Y��, c�i�i s�r�d it tv m� in early A��ril, I r7�c�v��l it to my �rro[e�ssed �older h�rt Et cabvi�usly didr�'t
get �ir�n�. I�,vill i�rcluc�� Gn our AP ci�e�k rur� t�r� ��u''��nesda}r. My a�a�lc��i��_
If yc�u hau� any oth�r q u�s[i�r�s, I�t me knav,�,
J�a�ie
Frort�±Jim Th�r+es
5er�t: �Ip�id�y, N1�y 6, Z[J19 �;C�9 Atv�
To; Juli� Ch�r�ey �Julie.Ch�n�°y��i,rrtio�ti��llo,rrsn,us�
Subj�ct: FW_ �+lon�ic�lln Restaurar�t Arrchor- billin,g
��a y�u �n�v� h�r� this is at� I tF,nught � had g�uen this tc� you �b�ut a mc�nth ago_
Fr�m: Thom�� Lei�l�t[�ra �r. ,o �;_`t �, �o=. I�I�•c�a+7sul:in�.c:t,rro�
�ent, S�kurday, Illla+y 4, 201� �:Q�,4M
To:JimTFs�r�S ��i�,o.Yf�,,•�.���,�ti9�._i �}��..,;�1 t�.� lr,�.r�7n..is�
��k�je�t: R�_ hrl€�nticell� F�e�t�ur�r�t +�r��hor - bi�le�n�
Hi Jim. I still f���ren°t re�eivet� this, C�uld you pl��se check into ii�
Than�Cs m��h'
Tr� m
Frnm: Th�mas Leighton
�ent: Mond�Y, A�ril �, �01� 6:�5 PM
T4;'1imThareS'eA�r.T.i:i..-,.;;;:; .ii�:;i•',i�.t'lit.;��vi�ti:>
Subj�[t: RE; Mt�nti�ello Resta�rantAncfnor-billing:
Hi Jim, Di� y�ou #ind arrythin� out �bout that ir�v[�i�e?
`fhank�!
Tpm
From: Thorna� Leighton
5��nt: TueSd�y� A�ril �� 2�19 3;�{7 Ph�R
TO:1imThaees�,i�r; I;s.�°�a.:�ac::��.�.����.:;�;r�r�'Jt�,.r�'�ri.c,=:�
�uf�ject: RE: M�r�ti��ll� Re�taurar�t An�h�ar- k�illirrg
Th�nksJim,
�
Fr�m: Jim TF��r�S� <:iii•..T��a=es�='�i.�r�;.ir��[it�llc�,riir�,u��
S�nt: 7uesd�y, Rpril 2, 2�19 3;4� Phll � _
Tti: T}�Orn�S L�I�h[�7n cl �sir,%��'l,+ri�i:° :�: �.r r�:,i tii��; �,;;rl��
5ubje�ct: RE; Montic�Il� Fi��taurant Anchc�r - billing
�om, I th�u�ht thi� had t�een pr�cessed Ivng �gv_ D�n't krro�+ uuh�at k�ap��ned, Will I��k into it thougl� �nd update
y�ru,
F�`��T°I: Tl�r�fR1�S L�i��ltOf� [�_•rT�i��ri�vil'rlt�C�[��t�u�l�ft�,CC�rYs�
S�nt: Tuesday, April 2, 2Ci19 3:12 PfVI
TO:lirt� Th�reS�ii���.TF�.s3.,s�,���t.:i.r?rt:,ril.rr��It7.riirl,tiS7
SWbject: Nionticellc� Restau�rant Anch€�r - billing
�ii Jirr7_ I'r7� gl�d yC}u like� [he pc��k�[ ��rk Ct��1���l�r
N'm folJ�wing up c�n the attache�i �r�vaiee, whieh 1 subFrrit�ed in �ecemb��,
Lek m� kn�iw i� ih�r�'S �ri issu� witF� it,
Thank�!
Tarn
Th4mas Leigh#�3n, AICP, EDFP
Y�ngible �c�nsulCing Ser�ui[es
512-�98-655�
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,
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Date; Febru�ry 19, Z{�19
S�ff �o:
Jir�r Th�r��
Ec�nc�mic �eu�lc��meni Ma�a�er
Ci#y �f �.�lon+�icell�
505 Walnut �treet, Suit� 1
1�+1�r�t�cello, 1�1N �5��2
C?fSCR�PTI[}fV
�.019 L���d�rshi�r Gf�wth G�c�u�r Series
f��k�s cr�f �heeks po�ot�fe to:
The L�ader5hip C�,r�v�r�h C�roup
f � Ih'��� �taldert Lake �o�r�
�ircle �in�s, I�l1N 5�D1A
� ��� ���� � �
� l ��- ����r������� �
�crr: 2�1� Lead�r�f�ip �rc�v�+th �rc�up Seri�es
Ir�voie� �la 1�5�1�5
AI1�'I�UN�
$60�,00�
,=e . _ . . � � .,. _....--�-- --��--
TC7TAL � $6iiD_40
If yau hae+e �ny q�esti�n� conc�rnirrg this invoic�, coratact Dave� �a�°thi�l�omay at 61�.85�.7�D�
�r Tt�el�adersh�i�. G�c�v�ff4}Gra��.��'�m�i�_c�rr�
Thi}��VK YC�U FOR Yfll1R BUSkN��S!
L�ad�r�h�ip �rt�w�� �rc��p
71 �Je�t ��Ider� Lake R���d Circl� Pi��s, CV1�1 55014
���,�i��,72�13 Th,���aders�Oi��r€�uyrth�a«u���m�i3_�vm
- - F'. Fs �-„��i_.�a B�x I�.�[}LlFi€SS GFt�1hGEL=
.g 7 .T'tvFN�.�C10f2ESS
Pu������r�, �n�.
�G�S ���r1 R���p�s � �.r�;.
t1C:.�;� ����[i�, �,�� ,`3����.n
.�:,;. . _ _ _ ;v�µ � .�::� ,����_�� ��i�.- ;
�
frnro�te D�te
�,i�;��i�
Invai�ce Idurr�b�r A� FJumber
��5�:��? �;sa��ds�.
Term�
hJe� I :�0
�heek F#uml�err Amount P�id
CIT�' C�F MCJNTI�ELLC� �
ATTIV ,����UNT� F"AYABLE
505 V�'A.��UT �T �TE 1
h�l(]NTI�ELLC�, MN �538� ,4ccna�nt# �zsz�s 51z�zz
A.CCt]UF�7' kVU14���R �TART DIkTE aT{JP €}11T� EDITIt�fJ �ATE A�C{�UNT RERFtESEF�TAFCVE
42g2�$ D5r1=71<] QF;'1:,;'9 :�r`�;20'$ fal�rticeloL��IS {)Fr'-,s�2-v�29
--1eas=_ ��:um :h� �pp�� :r�r.i,ar ��rh yr,�,t�r �pymr�•,i f..� :..if �ry vr�C�L c:ar�. G<�taase cafl !�d-f IL L14°j {''_. � �r'] .]'�c.l..
: . . -.__._. _ .. .. ._ _. . . . . .. ,...__..._
P�I.JBLIC,�TIOhd � C]�TE lkD# CLASS P��SCRIPTpOFLfTAG �I�JE 7'�'PE 51ZE � QT'ff AMIOUNT
h10n;:�ellv 7�rnes
�9�4iS2
�� �
r���i� __ . _....
CS.�'F�r'�419 53�8d8 150
��� ���L�I I V��
TMI�E$
Lu'�'i[rstc.i`.� C�fr �•tti C:�t�'i�g L 1-0 �{ 6 78 1 1�u ��
Flet A�no�,n� `29 22
5hi;pping Q QQ
Tax � ��
Ampun# Due 129.22
,�I 53+� ci�arg� assess�d for returr�ea' che��rs,
���11��,l��I R�epro�t �rrors wit�rn � rla�s to ar�sr�r� ca�as�d�ra.tr�rr,
� I�.�I1�81i��8}AFfC�,''"e 4,1V2F.�`� C�c'�fi+FS f7c?S� C�U� YYd�� �1?C(!Y� �.�°Ja
uta�_vex � f}�anc� ��i�rg� �av rr'or��h �hJir�Prrrum .�Li ,�er rrlar�thJ,
AFFII�A'4fiT (�F PLJ�1�[�A�"IC�N
ST,�.TL- C7f� '�i1:+l1VESC3TA ] �s
CrJt;'wiTY O�F ��1�IGHT
Eli�c �trcck�r bcin� dulp� sk4�orn +�n an oa4hp
statcs t�r ai�irm� thx[ hcJsE�� is ihc Publisher's
D�;signat�d ,�gent aF th� nc���s,�aper(s1 krtirv��n
klS:
14�€rn�ic�lla Tuncs
wilh ih� krsuw�n �if�`Ec� �I' issur �ing le�cxr�l
in lhc cvunk�� aa1�,
V4'I�IGfiT
u�i[h �;dditi�rr�] cir4ul�itin:7 �n th� L�untie°} ��,
St I I�. FC E3L1 f�t �l F
c'�Nl� �7245 f15�� �ftii7lk'��^�.�Q C?f t�i� f��4'�S ���@�
t?��[}14'-
{i1j'I']Ze n�ws�ra�er h:xs complied u-ith �l] �t
the rcyuircrnce�ts constitn[ang qualifica-
iion ds a yu�lifi�d ncv.��pap�r �s pro��ided
by� �+Iinn. SCat. �?31.�.�1?.
(k3�'�'lii� �'ubli� No4�w� ua�as printecl �,��p �ul�
tis}�ed in �aid n�ws�s�pe�(3j onoe e�h
u�ee.k, f�7r 1 su�,ce��ih�� u��ekfs); tkse itrs#
ir,s�rt9�n l�ein� �sn 0511�,+?�! 9 and th� last
inser�ian bcin,� on �35i16�'�G14.
14I�RTG.+IGE F�RE+CL,+C►�LfRE ?�OTl�'ES
PUf�Uan� lu �•iinn4�41:i Sl�i. �Sf�i?,f133
rr:lti[:rG� ic} RhL �*uhli�atikiej e;til� l.z�r[�s��e
fc�r�ClCkSlire �rutic��; �I7te n�+vs���+�r Cur�ip�i�s
u��ith th� ceinditsnns descrsk�� in yS�[]_1f33,
subd. I, cl�use �9) or (.�}. if tha: r,�w�sp�tper's
kn��n �i�o� �f issu�c is ls�c�tcd in a cnuntv
�edj�irurs� th.c coun�}� u�hcrc [h� martg��cd
prcrnis�es c�r yc�me pare �f ihe morsgd�c�
ptcmises s��scribe�l i�i [he n�aki�e ar� 9a�Rec,
a �ukrsta�t"ra] }ac�r4�o� �f the n�u�s�,��'s
cir� � ticrn is i the iart�r count}�_
�
� '
J C�sign�Ped rlgen[
:�ubscrib�cl �,nd swrsrin t�s c+r at�"srm�d t�e'.�i,re
ntie on ��1] �sl�l]] 4 �y E�isc �teecker.
�', }
"� ��� �� ����� � ��-�--�
t�ff�d�y� �u�i��
, �„�,��:.��.�;�: Euaa �ENE 1��4E M��H EF�+I
- I�ota�y �ub�ic
- µlnn�6s4ta
,-�++,+,°..:;-` 11� f�ppeq�inn F�ies d�r�e�X 31, �I.124
I��C� [n�CFrnldtia,}[i_
� l:) L€�u'ext cia:ssafisd rate �eid Fr} comm�rc.i a] user�
far ca�mparahle s�ace:
� 1.�.5fJ p�r calurnn irr�.h
.�d ID �??$�$
CITY (�F MC��ITI�ELL{)
EC�(VONt�� C}kVEL[3F�I��NT
ALJTHCIRII'Y
I+IOTIC€ OF IRligLtl�
kiEARING
hl�+tice s� he��eby i� ven th9t the
6c+�IFld cri 4,nm�rSR�Gne� � #h�
�aly �f MomiCellC Ecor►�mC D�
�o�m�,� a�kranty �Eca�7 �su
meek at or a![er 4�.m_ nn W�dr±as-
day, r�ay �sn, ��ys �t c�r,, H�,
�i1� 4'4alnut Aver�, in th� City of
M4ntiC��4, Min+7esota 1`Che ���i,y�•i�
ta oanaucl a p�,G�ie n��ir� �e�ar[1-
mg a�+roposcd grana kc Tncambra
Foc�s Inc. dha Coreiers'one Caia
anc Caterir�;th�'°ueveloper'J un-
de� M rrresnia Siatu�e�, Seclion�
116J.993 tu 11F,,1-�95. �s am�-
�d �kh� `Baisiness Subsir]y Aca"}, �n
can.rcc+��n wisn ��opai� f�adc
QnPr�vaYY�n� k� tha 47evel6perk
husinass, loc-aka� in the dawntrnxn
ares of ltre Ci4;y_ Th�'��,4 will can-
sider a grand pur�uerat t+� its �awn-
tqwn Fa�� Irraprp�rr�nt �r�n!
ru�7 Pso�r�m 9a tie�+�ce �I �o�t�on
Of t�5e C7euelr,�e�`s Ca61 ad Ihe irr!-
pro+remer�t�, �+� a phr3clpal ara+auna
rx�M t�o exc� 5104,�JQ�, L3ecause
ihe as�ista�e �xcee�� �25,o�3fl.
U�e �rarvt rr1u�t tomply mkli ihe
�C�4's wrekt�en businesa s��dy
poQacy; pnaer�d� Chat the EC}A map
iirEd. after a p�!`ic h�ari�tg, thak
ih� creation of jobs is not a g�r;sD af
ihe �i�eance_ ,Pury person with a
r�id�'�c� in th� �iiy �r wtq i� ts�
(YW�fI�P al taxahle prn�erty in thg
CiRyr +n�y fl�e a w•,ikker+ c4m01artik
,r�in the Boa�atl ot �rramiss�o.�ers il
rhs Boan� o� �ammiasionars f�ifs to
comply wilf� 1Y,G g��lncsa S�haidy
AGi. �lo �Ckivn'n2y be �il�tl dg�insC
Ihe �can�mic OQvelcpme-�t Au-
Ulcarity 16r Ute �ailur� td G6m�ly un-
less a written complaink is 1iFe�.
An+� pc�snr* ws�ishing ta express
�r ❑p�ian ars Rhe rs-iettQrs to te
cn�sidered at tihe pu�lic hearine�
wl�� h� �BfC� OF3.���' (yF Ifi Wfl@IdYC�.
fi'�` �7FkC1�#i QF TFaE F�C�RQ p�
[;C?MMISS�(]�NE�i�. ClfY QF ��1fU-
' I��l i 9 EC(��^J9hrIPC i5�r��.QP-
M�-NT fi�HC�RIT'4'
1sJ Jim Thares
Ex�u#�+t�C �7irC�cl6r
F'uk5lish� in th�
Arlonkic�dln TimeS
May 1b, 2fl19
9378a$
Julie Cheney
From: Jim Thares
Sent: Wednesday, May 22, 2019 8:33 AM
To: Julie Cheney
Subject: RE: ECM $129.22
Yes, please code to: 213-46301-435100
From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us>
Sent: Monday, May 20, 2019 2:57 PM
To: Jim Thares <Jim.Thares@ci.monticello.mn.us>
Subject: ECM $129.22
Jim
Attached is ECM Inv# 695402 regarding Cornerstone Cafe. Okay to pay $129.22?
Please provide coding.
Thanks,
Julie CF�eney
Finance Assistant
City of Monticello
763-271-3205
Julie.CheneyC�ci.monticel lo.mn.us
APC�ci.monticel lo.mn.us
{'fTY C!F
�..�� � ��'�����'ll�
EmQil correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government Data PrQctices Act and may be disclosed to third parties.
i
Julie Chene �'� ��` � �
From; 6ull��ye �roper[y �v1�a�a��rr�ent & R�alty <m�i"�manageba�i!ding.��rr��
�en#; S!�nday, May ' 2, ��1 � 3,�4 �'�1
To: A�'
SuF�j+�ct: Le�S� s��terrMent f�r 6r€�ac�w�� P�rking E�serrr�nt - CQ�+I�IERCIA� �� as �f 5/1�/�q19 �
�ulls�ye Pra�a�rty h�nn���ment & Realty
PLE�SE T�1{71'F:: [�t] °�C.17° RLF'�.'4' Tf] TH14 k:h7r'411. ,t[)17fti� `�S
"Chi� �mail m�.���s�e �x�n4 ��n� fT�}m � n��tiiawatrari-cr�rl}� a��fi�rc�� thar �,innc�t aecept isi��rnang emai�.
I��a�e ���.��m�nt �� � �' ��` 1 ��!�� 1 �
�ity of Mvr�ti��l�� E�c�n�omic Q��vel�a�m�nt Authari#�
�� L�ke St
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Bi� ��ke, MN �5��� , t� �� �
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P�yment Receipt
��?�l�r�c;�,t F�E�c�;��
w.�gnr cour,ty, nnN
10 znd Street, Nw
Buffala, NYN 55313
Phone: 763-682-7578
Bill To:
Sarah Rathlisberger
505 Walnut Sireet, Suite 1
Monticella, MN 553b2
dp@ci.monticello,mn.us
Single Payment
Trensa�tion Dare� OSf15/2�13 7:2$ AM Paciflc Time
PayMethod� - ,a...s,rr�+*0017
Approval p, 12574991
rrace tiamber 93c75345 28e7-41f8-9801-3591739fObOf
Amount: $1,553.75
Thank you for your paymen[.
Page 1 of 1
Pld :155-010-D5213i
Rall Type: R
Tax 8ill Number: 20825
PaymentAmount $1,552.00
Ser�iCe Fee $1.75
Total: $1,553.75
,,�b 3v1 � �13"� ��
�i�
Sw� 5�'�l�a
https://swp.paymer�ts�ateway.net/co/d�fault.aspx?pg_api_lo�in_id=RfcD�tbfiB 5/15/?019
� Robert J f-{iivala
WRIGHT CO��N7Y AU�ITCRr'7REASURER
�10 SECOtd� STREET t�1 yV ROOM 230
Bl1FFAL0. MN 5531�3-I194
; 63-682� i 572 or 763-682�7584
v.v+v+.ca wnght.mn.us
. . _ . . .... ..----... _ ..
PrOperty ID#: R155-Oi0-052131
.. . . __ _. . _.. _ ._._..... —i
Taxpayerlp Number. 248203
CITY OF MONTICELLO EDA
% ACCOUNTS PAYABLE
1 Ii`�'�D� ��'�`�� ]��� , ; �,.
�d.:.;_---°- � �.,�
2018 '� �' is:5 i��r Taxts P�y�t�le in �� �� �
. .. . . _.. . . _ .. — ..___ _—._._..e_,..... _— _— __.__.. _
VALUES & CLASSIFICATION Sentin March 2018
7axes Pa able Near: 2018 2019
Eslimated Market Value�. 93,0�� 93,060
_ . , Homesiead ExGusion�.
TazabEe Market Value� 93,000 g3,D00
� kewlmprovements�.
Expired ExclusEons
PropertyClassifcatiorr COMM COMM
505 WALNUT ST STE 7 �� � PROPOSED iAX Senfin November2018
MONTiCELLO MN 55362-8$31 ProposedTax �,gg�.gq
_„ PROPERTY TAX STATEMEN7
- First-half Taaes- 776.(70
n Secontl-halS7axes 776.pp
4-'- Tolal TaxeS pue in 2019 1,552.00
REFUNDS? '� � 1�% YDu may 6e el+gibfe (or orre or even two refur+ds to reduce your property tax
Read the baCk of this statemen! to find out how t0 apply.
,{ _ _ _ _ _. _ _ _ _ _ _ _ ._– -- -
��� Praperty TaX TaxesPayablsYear 2098 2019 �II
. 5[atement
1 Use Ihm amounE on Form M1PR 10 See dyou ere ehgi6la for a homesiead cretlq refvntl I
� Ftla by August 15 If ih�s 6ox is checked,, yo� owe deiinquen[ taxes anC are not eligible. �
� Properly pdelrnss 2, Use lhasa amounts an Form M7FR Io see i( you are eligibk for a speciaf rEfund {
t t2 w RlvEii 5T .
: MONTIGELLO MN 55382 p �
� x 3 Yourpropertylaxesbeforecredi[5 5,d33ii 1,552_00 j
� PrPperty �escnpfion�. �� n 4 Ccedfis Ihal retlucB your prpperty laxes
' sact-�i rwa�i2i Ra�ge-a�SokiGor,a.�P�,a7 �' n A AgncWlural and rural land cretlns NfA
N.Orv7�cELLp 6�oc�K-6S2 TH PR75 (7F �� a �. Other credils NfA
�isi3,sa6 DES BEG AT MOST E�Y Cc3R 6F � a 5. Pra g taxes aftee cretlits
� LT�3 TH 525018'44"W ALG SELY LN OF w P m i,4$3.11 7,552.Q0�
i L713 165.36F7 T6 MO57 SLY COR OF LTt3
� iHN6ap58'2GwALGSwLY 6 CounN 55724 577.05
� � 3 City or Town (CITY OF MONTICELLO ) 451 A5 477.95 !
' a 9. Slate General iax �
� 1° 9 Schaol Dislnct pp
K 10882 ) A Volara roved levigs iSt 15 199.81 '
� w 6 Q1her tlpCal levies 218 41 240 fiB `
�- � -- � � 10. Speual Taxing �islncts A_ MON71 HRA 1526 16 70
5pecial Assessrnent Breakdowre: � 3 g
n C I
� o
� 11- Non-schaol voter approved referende lemes
� 12. 7otal properiy tas Nelore speciai assessments 1A33.11 t,552,00 �
13. Special Assessments an Your property '
See Lefl for Breaktlown pf SpeClal Assessments
� Speual Assessment Talals �
720 89
� 1d. YOl1R TQiAL PRpPERN 7AX ANG SPECIAL ASSESSM�NTS 2,754.00 7,552.D0
PAYABLE 2019 2ND HALF PAYMENT $TUB ",`a"�E"°�"`aF`" °'--"'S�T°Tt�.,".,`,';� Mp°aTF�,�.�.��F<�.,A��oN
TO RVOID PENALTY PAY ON OR BEFpRE, OCTOBER 15, 2019 Total Prvperty Tax Tor 2�13 $1,552.00
Property ID Number: R 155-010-652531 2nd Half Tax Amount �776.00� s"'
=n
Bill Num6er: 20826 Penalty o`m
IO Number. 248203 2nd Half Total Amount Due ° m"'
r> �
�4`a
MAKE CNFCKS PAYASLE & MAlZ TO: �� m
RobeR J Hiival8 a n c'
Wright CflunFy Rudf[orlTreasurer m T z
�0 Second Street N.W„ Room 236 n �
B�ffalo. MN 55373-1i94 s N
z �'
It your atldress has changetl ppease check Ihis bo. and
CITY OF MONTIC ELLC3 EdA � show ihe change on ihe back oE tnis stub. 5
%ACCOIINTS PAYABLE
505 WALNUT ST STE 1 r+�rre�.e�Wu�re�x�a�me ro�.�:�o.n�a�r.��.�.ro���e�m r��aerx..�q,,,�oan«rx�s,�ro�m
MONTICELLO MN 55362-8831
PAYABLE 2019 1ST HALF PAYMENT STUB F_E�SEREROT"�BA''"oFT"�S'T",`"'E"rF�R�"''°R,""T�"F°R'"^,�o"
TO AYOI� PENALTY PAY ON OR BEFpRE: MAY i5, 2019 Total Property Tax 6or 2019 $1,552,00
Property ID Number: R 155-610-052131 1st Half Taz Amount $776.00 ��
i_�
i
Biil Number: 20826 Penalty Q m
vO 'a m
ID Number: 2482p3 ts[ Half Tax Amount Oue T n
yG�CJ
nraxe cr��cxs Par,as�� a Marc ro: �� A
Robert J Hiivala � � C
Wrigh! County Audi�orlFreasurer m � �
10 Secantl Slree[ N. W_, Rpom 230 R�
�N
9uffala. MN 55313-1194 z�
❑ If your atltlress has changetl please check this box and y W
CITY OF MONTICELLO ECJA shaw�he change on the back of mis swb
% ACCOUNTS PAYABLE
505 WALNUT ST STE 1 �.�qe�e���e.6R��n��a .o�.�n��,�_�.k..�u «��� �,s��<e�o��..ob,:�k,��roz,pa
MONTICEL+�O MN 55362-8831
.', 1/V r I C,� i� �'� C� U�'1 t�/
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- .�� .,.- .. � _�_1 t . . .. �.'� - _ ___'_. _
�i"�i3�i�'B`lrr (�i4 :st.�6'�i"i�°�cs)+(�'i�i"�'��
�nline PruperYv Tax Ya��rncnts
Pa�e 1 of 1
CONVENIENCE FEES
The follnwing convenience fees wilf be charged for oniine payments:
e-Checks
$0-$125,000.0�
$125,000.01-$150,004
$15U,000.01-$ � 7�,000
$17�,000.01-$250,D00
$].75 flat fee
$4.OQ flat fee
$7.00 flat fee
$ ] 0.00 flat fee
Visa Signature Debit Card $3.9� flat fee
Credit Card/Non-Visa Debit Card 2.35°10 of payment amount
(Visa, MasterCard, Discover, American Express)
State la�v requires con�enier�ce fees to be charged to the taxpayers who chonse to make
n�ol�ne debit/credit card or e-check paymenis for property taxes (�t.S. '�(�.�)�}. TlZese fe�s are
not retained by Wright County, but rather are paid to a third-party vendor to cover the costs
associated with payment services.
By clic�Cing Make Paymerrt you will be leaving tlie Wright County website and �vill he sent to
the third party secure �ayment screen.
Make Payment '�i
https:f/web.co.wright.mn.�s/proptax/start.asp S115/2019
Secure Web Pay°
Wright County
M I N f`�1 E S O l� A
Billing Infarmation
Billing Contact
sa,���
Raihlisberger
ap c�;ci.monticello.mn.us
763-?71-3201
Billing Address
��i5 4�'alnut Streel. Suitc I
Manticeilo
MN
�5362
Order/Transaction lnfarmation
PID :
1 � 5-010-052 ] 31
Tax Bill Numbcr:
24826
Roll `l`��pe:
R
Payme�t Infarma�ion
Pa�e 1 of 2
7`herc titiill hc a service fe� ul' �.35°0 �4ith a n�irzimum af'$1.75 ii' usin� a Uehit/Crcdit Card. A servicc fcc of $3.9� �+,ill be charged if using
a Uisa lle�iit card. 11'p�yn3ent hv eChick, the fre is $1.75 lur transactions under $l2�,DOQ, incremcntaliy raised to a limit oi�$2�U,000. The
linal amount of tt�e servic4 fee tii ili be dis�layc;d brioti�� the pa} mcnt amount of'your bill. Bv c2icking the submit button, you are agrceing to
pa� this scr�iee fee. Should have an� yuestions re�arding your bill, please cal] our olfice at 763-68?-7578.
C're�J�� ;::ard EYectron�c Check
Please fill In the green fields below
p5/15/ZQ19
Wright County, MN
1553, 75
or�e thousand five hundred fiFty 4hree dollars and se�enty five cents
�o9inoaoi9 � M��M�*. o
**'"*`�* ���Checkfng �
��' Sing9e payment
� Th�s is a procuremenk tard
�Customer Account Cod�
Payment Amount:
155?.00 4
Total:
1553J5
...... _,
Review & Submit
Contact us
Wright County, �v1N
https://swp.paymenisgateway.net/co/default.aspx?pg_api_�ogin_id=RfcDEtbfiB 5/15/2019
Julie Cheney
From:
Sent:
To:
Subject:
Dear Sarah Rathfisberger,
Notification <noreply@forte.net>
Wednesday, May � 5, 2019 9:29 AM
AP
Wright County Treasurer Payment Confirmatian
7hank you for making your payment to the Wright County Treasurer on 5/15/2019 7:28:27 AM in the amount of
i552.OQ.
NOTE:
This is an acknawledgement that you utiiized our online sys#em to make a paym2nt. Please check your bank statement
within 48 hours to ensure that your account was debited for the amourot of the payment. If the payment was not
deducted or if you have any questions regarding the payrnent process or service fee, please contact our off�ce at 763-
682-757$.
It i5 the responsibility of the payer to enter the correct cardJchecking account number and to ha�e sufficient
funds/credit limit available to ensure a successful transactian.
Do not reply to this email; this is an unattended mailbox.
Thankyau
Debbie Davidson
From:
Sent:
To:
Subject:
Attachments:
City of Monticello, MN
505 Walnut St, Ste 1
Monticello, MN 55362
763.271.3228
8 AM to 4:30 PM
Account Information
Acco u nt:
Name:
Service Address:
Service Period:
Billing Date:
Due Date:
Meter Reading
noreply@ merchanttransact.com
Wednesday, April 3, 2019 8:09 PM
AP
Your bill from City of Monticello, MN is ready.
41 WEBINSERT.pdf
Previous Reading
Serial Date Reading
Current Charges
Water: CITY WATER - NON-TXBL
Water: ACH Credit - Auto Pay
Water: E-Bill Credit
Sewer: SEWER - COM/MONTHLY
Sewer: SW DISCHRG FEE - COM MONTHLY 2%
Total Current Charges:
Bill Summary
Previous Balance:
Payments Received:
Adjustments:
Current Charges:
* Total Amount Due by: 5/1/2019
* This was the amount due at the time of billing.
007256-007
MONTICELLO EDA (213-46301)
103 PINE ST
3/1/2019 to 3/31/2019 (31 days)
4/3/2019
5/1/2019
Current Reading
Date Reading Cons
$7.10
($1.00)
($0.50)
$9.00
$0.18
$14.78
$14.78
$14.78
$ 0.00
$14.78
$14.78
To view your amount due at the current time and make a payment click here.
1
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Dal� �af` Tra����cti«n
CITI' �F f�015fT�CELIf�
C�ty F#al� Card Tran�act��n
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Tv be �e�+mplete�d by pur��taser:
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Tr �y Er en
Vic ci e�rho
a� n�rd
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1�U'ayne C]k�erg
SaraF, Ra#��isb�rg�r
Jennif�f5�hrei�7��
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1im Th�reS
J��ob Thun�nc�er
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Adrninistr�ti�prr
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Data Pr�cessing
c�ty ���r
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f�le��e attaeh ihe rn►ro�ce�receEpt and �ny c�#he�r �uaalable doturnentatian #o this ��rPn.
Ta be cum�J�ted by purchaser:
l
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Cir�le purehaser name�
Tracy �rger�
��'icki Le�rhoff
"-a�Fr��=t��narc� -
Jeff �'N€ill
Wayne C7b�rg
Sar�h Rat��is�erger
Jenrrifer 5�hrei�ber
�n;��la Schurr��nn
Jim Th�res
J��c�ka Th�nander
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Sll�lilT.�1 ��]..i`�
f���t l'���MJ'�T `�ALE $Ll flU
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1�1��'ll�d�'g�t_ GQ411
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c�rrr �� +�c�n�r�c��t�
C���s:t car� rransactio�a
Pl��s� �t#��h the �nva�ce/ rec�ipt and anyr ather �vaiJ�bl� d�ortur�7�r�t�ti�,� ta t�7�s fv�°rat.
�� �be corr�pl�et�d by �urc�i�s�er:
Arno�rrft � � r ��
�ir�cle �urchase� �ame;
17�bb�e I3�vidsor,
Julie �hene r
Ex��ns� ��de�
�.:��� � � � - '--�� �� � . �# �-I.� � �� � ,� . �
� � � � ��
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NT�anticelf�s Ch�mber of �omarner�e ar�d I�nd�rs#ry
245 �rr�e �#reei
PC1 �Ox 19�
M�ntleeJ�[�, MfV �53E2
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i nf�� rrrDP?�iCe11oCG€. �rrl
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Manti��.'rG+, hr1N .553��
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fn�rolce d�te; 411'�?"�
Inw��ice hlurrfber: ���6
i�CG41JiY[ 1�=
l�e rnis
Net 1�
Quart�ity Ftate
1 �15.C�:]
Subtotai:
Tax;
Tota I:
Payrn�nt+Cr�dit Applie�;
gaI�II�C�:
[�us ��te
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Amount
515.C�
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Atta[hrnents.
f)e��r Jit�l:
M�r�yAnd�ers�n �rr��rcyra�m�r�ticello��i.corri�
h�onday, A�pr�rl 15, 2�1 � 3_�3 PM
Ap
Invoice f�om A+1orr,t�cell`�p Ch�mb�r �f �o�mrilerce �nd Industry
5296.pdf
�''OLIr iil�'+�ic;� 1S �tt�lCheC�. ��e�13�: r�Y17lt �ai�tri��nt �t l�c�ur +���rliest c�n��enicnc�,
�I�iroaiik ���u f'car �c�t�r b�asines� - k��e ��a�r�ci�te it ��er�' r��u���,
�inc�r�l�'.
t���nii�:c�[c> C'�i��n�bcr ��`�`�un�rncr�.e an�l Ind�t�lr��
(��i�) ��)�-'??�l(� �
�1"c� ��i�.��a�r'p��° Yaills vt�Git��, �le��� ��i��k h�:r��
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T!�d .�� i : i. u; t i-�f-' .:r ta r.-_ � I�:rlu i 4�' Gv•r�i�7�cC� an4� In��7d i.. . .�
f Gy G�yay.'t�cu �r �I_�.. .�r7�1�=r �sf' :y'� � hliss��wd ru#h15F,4� �- In
i�n}urascnb� I k her if you ��ve G rc..,: ..� ,;.;r c�rnarrerrt� ea�eerning It��s �n�a�� �r �rax,rtl-:Zc�n�S 4�..I�$ u7 r�0e}�r�r. �jfE2S� C4rll2�k US by �frldil 2?
����r'.��''� _ J°. . _ ...:�r
�ul�� Ch�
Fr�rn. Jirn Th�res
ien�: Tuesd�y, April 1�,, �079 �p:53 Alu1
To: 3uli� Cheney'
�ubject: RE- tvlorsti�el�v Ch�mb�r �15.00i
Jul��, this is �rk�y to pay. Pleas� �crd� tc�� �13-463�M1-443��0
�Frcarn: a�uiie ���ney �Julie_�heney cr eu,m�raticedlo,mn_u5>
5en#: 7u�sd2y, April 16, 2C�19 1�:35 Ah+l
Tv: Jirrf Tl�are5 <Jin�_Thares�ci_mo�rti��IJa_rr�n.us>
Sub�e�t: F+�anticello Ch�mber �15_��
Jim
Akta��hed i5 Ir��€# ��9� frc�m th� Monti�elPc� Ch�rnber �or lun{h. C�kay t� pa+� $15�
Thanks,
.�P�r;'�(' i �a�.r; ..�r
Fir�ance ,4.s�istant
City of l�onti�ello
763-�71-3�05
�l:li�.C��Er�e'r�4w�_�x-i�,r-:r i:k: ::i ",r. t�';
A�(,�c:.,�nont�cell�.rnn,u� � --
_, '�'� , ; r � � ; �
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�r�nar� �orr�s�rrderr�� to ar�d frarta the �'�t� c,f ll�k�+�tr'ce�Fo g�r,r�e,rrrm�r�t off�r�s rs ��b,���t t� th�
l�larrr��sota C�o�+�rnrft.er�t Dutcr Pr�rc�rces ,4ct ar�d +t�y #� drsclo�ed tc� th�rd �rr�tre�.
M�n#ic�llo ��amtrer a� ��rnrner�e a�tl Ir�tf��try
2�� Pi�te Stre��
P0 B�x 19[
I'�csr�Crc�110, MN 5536�
(7�3}�9�-2i00 � fax�(763;��5-�r0�
f n�c��rno��l�c�l Incc�. cx�r�
fa'lo+�treellp �ity �f
AG�r�unt5 P�y��l�;
5+J61dh+alnut �treet Surt� #f
M�intrcello. h�N 55��2
Descrip#ion
Ch�mb�r L�n: h, h,lern��t� ;`, .9 j�.•� �,,'���
�Cl'V�JI��
Inv+olce bate; �P1�l19
Invc�ice �lumber: �173
A�cvunt PC�:
T�e�rns
fV2i 15
Quant�ty F��#�
� S15 ��
Su���t�l:
Tax=
T�ta f;
P�ymenUCredit Appl"red;
Ba1��1Ce=
❑�u� Gat�
�i3i 19
Arnvurrt
$1� �0
$� �,00
$0,0�
�r15.(��
��.�
57 5, �C�
�iu�ie ��h�n
Frvrn: Jwm �7har�s
�ent: Mond�a�r, April 2�, 2i314 11,0� A�vi
Tv: Juii� Ctr�ney
Sui�jec#: R�; fi�v�iee fr�m h�fc�nti�ello �hannb�r c�f Comrnerc� an� I�ndvstr�+
h'�s, this i� �kay� to pay.
�r��i: Ju�l"re Cher�ey �c��rli�_�heneYC��i,m�r�tirell�,mn,us�
5ent: M�and�y, A�ril 2�, Z�119 1.Oe4� AM
Ta: !�m TF��res �Jim.Thar�� c�a �i_rnar�tic�llo,rnn_us�
5ubfect: FW; Ir�voice from Nl�ntie��l[� Ch�mber of �cs�nmerce �nd Industr+�
Jim
Pl�ase s�e ti�e �uistar�din� i��voi�e frorr� th� C�ha�nber fqr yc�ur Mar�h lur�rh. OkaY t�s R�Y �15�?
TFl � r� k�
.��`�id{� � ��!{''}�t�l�
�1�[t�G� �5515t€]rl'�
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AP��i_Ynont�c�llo_rn,n,�5 —
, �� i , � � �
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�map� +co���sp�r��er��� t� c�rrc� ��orr� tire �`ity� �{ M�r��ic�1�a gou��,rrrr�n�rrt o�fr�es rs .�r�bj�ct �o tFr�
�rrr�e��trr �over-rr�nent �Lorta Prcrctrc�s Act �x�rd rrwy be dis��nsed to thrrd p�r-tre�.
�ro�rr�: M�rcy �ndersc�n marlt�i:mar�vC�rrrc�rrticella�c�i rom�
5ent: FVlond�y, April 2�, 2Q19 1(}:41 AM
To: AP �AP ��i,rnanticelJsYr.rr�r�.u�>
Subjett: Ir�v�ice fr�rri Montre�lic� CJ�amb�r �nf �vmrrrer�� �r�d Ir�d�str'y
Ucar Jim:
Y'�ur in�c�ice is aitache�l. Nle�sc reinit �a��mer�t �t ���ur ear�ie�t ee�n� cnieilcr..
f'i�anE� �°c�u ti�r �'c�ur busir�e�� - v�•�Y ��P��;i�t� it ��ca}� mt�c,h,
x
lNonticello �h�r�n��r af �omrr��rce �nd �nc�ustry
2Q5 F'ine Str�ep
PC: B4x 1�2
Mor�t��cello. MN �53�2
(dfi3} �9�-27{l4 � fax f?63i ��5 �r��
inf�t�rnaa,#ic�t�e�ccr.o�n, �
Mr�nti�e'Io �ity pf
�i��.ar�[s P�yatJle
��5 �V�In;�k �tr�et ��uit� #1
f4'l�ntic�llo. M�V 55���
i�escr��#ion
�hambe� Lua�cY�, hAe�nber 1'�'`i.: ,. , I_ , i
� 'i., ° t
� �1 V' [� I �CE'
�n�+oic$ Date_ 4;°y5rf9
Inuoi�e Numt�er: 5�97
A�cour�t 1�1;
T�r'ms
�l�i 9 5
WuantitY Rat�e
1 � � �. 00�
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T�t€;
7ota I =
I'ayrt�er�#�Gra�it A�pl'I��:
Baaance�
a�
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Due Date
4s30,'1�
�m�unt
� 15 GJ
$15,Oa
�O,dil
S'� S�aO
$�l_a�
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�rorr�:
5ent:
T�:
�uta�ert:
�#ttachrn�nts:
�}cttr 14�1�tt:
Marey �nder��r� �marcy[�rr�onticell�r�ci_corr��
A+1onCl�y, A�ril 7�, ��i�� 3,(�3 P�v1
,4 P
Jnvc�ice fr�c�m Montacefdo CP��mb�er �� Cc�mrner�� and ind�stry
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�r"��ter iri��r�icc i� ;�tta��re�i. Pl��se re�ni� p���n�er�t �t your earlie�t cc�nver�i�r��e,
�Ch�r7� �c�t� f�r e�t�ur hu�iiir:�� -��°� z�pr��:i�t�x it ���r�� rT14�cli,
�i�lcercl��,
f1�c�i7ticel�o �Il�r�tta�r ot C'o�i�nl�rcc �nci Jrr�ius�r��
(7G �) ?9�-"?��f} "
7'0 ��i�,�°,°pa�• bills o�r�fi�,e� �lc.a�e �•�i�k }���-�
�
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4.. c3�dlf� �f1L��iJStfj�' Lly' 4�fCe.S'.�I}�.:}fl�. ��fl;.f� � 7ill:� ri",� �:� .°J. f�l�ti�e':ti ty1�+J wFif}l}�i 7ei
un5ll.u�_tii I r CIiC& h�f�. i' Xr�U �r}.�i�� q�e851�GnS 4f .:,t5rnrn��ryfS C��CE:irlirfr� C�715 �rn�ll Od L�i041QF��cir72� 5�Pivir.;pS I'1 U€�r�Ef�1 �il��5c. C��i7lc�Ct uS L�j� �fYld,l �¢
SuuF,��:�'k � ,_ , .. ;::si-1.
aulie �h�n
Frorrt: fvl�tthea+�+ leonard
5en#: 7uess��y, Apri� lb:, �C�19 3:29 Pfvi
�°; Julie Cheney
�utaject: RE: Nionti�epla Cha�-nber $15
C7k f� ��y, �an y�u ��ide it io pw �drrrirt� trav�✓,
7h � r� k�,
�iatt L�orr�rd, P�.�.
�it�' Engir��er J P�L�fic W�rks L�ir��to�
Phone: (7�3� �?1-���1
Fax: (7f��� 2�5-���?4
,��� [.[r� ��t
,� �.
;� ��� .
.�._ ���� �
: �,��.,�..
Erxr�i� r�arr���c�r�d�rrr� �� and,frorn #he City af Ji�+�orrtfre��o gr�vernrrtent offic�s i.� subfetr ta thg �1+�'r►�r�esota Gcrverrrrrrer�.t
�Duta Prcret�tes �c�t c�n�i rnay f�e dfs�cf�sed !'o third �urtr"es.
�r�m; �uli� �h�ney sJulie,�Cheney�ci.ra�or�tic��lo.rry�.us>
5�nt: Tu�S�ay, April 1�a, 2[ll� �0:36 �4f�1
T€�: Ful�tthew Le�pr��r� �r�att.le[�nar�fC.a��i_rra�ntieell�y,�nn.us�
5ubjec#: Ma�nti�e�lo Chamber $15
fVl�tk
Ai��chet! is In�u# 5�97 #rom �he Mc�ntice�lo Ch�r�b�r fc�r le�n�h, Ok�y tc� ��y $15?
F'le�se provid� �v�i�.g,
Th a rr k.5,
�i±Pit' { J�z'T7�:'l;'
F�nran�e A��si�tant
�'ity �of M�r�ti�eilo
i6�-�7�-3�05
J� li c.Ch,�ne;���ts.mor�t� �ef Ia.rstn.Us
�� ei,rna�nticello.rnr�,us
Juiie �hene
Fr�rn�
Sent�
To:
5ubject:
Aut[�-F�e�eipt �nor��dy�rt�ail.autF�orize.�net�
Nl�n�a}+, �pril �2, �0�9 11;�'4 WNl
��
Trans�ction Rec�ipt fr�ra�n �vlor�ticell�a Charnt��r �f ��rnmer�� & Industry f�r $�5eC10
�U�Dj
1>C54f1pCli'1h3: If"s�x'f31C[ll f11� Ifh�'uiC'4 �5��? # 149r��ori�cilu Cilti �aF] : t�lia�,�b4:r L.w��3�. E�-1ri7rh�r 51 5.i1(1 .�
I'a}in�ns It�e [nxc�icc �5��i4 i141�n.[i�cil[s C:i[} oi) : C.�]iambrr [.Un�h_ h�4cr�bce $]$,�U ,
!'a���r�cnt tisr Io�x oic� � S! 73 � 4i�m�i�cll�t C'i«� �,Il d�'hainl5�r I.ui7clr, ��icmhir $ I 4.��[?
I:s��}iC� ;�Jur�iFw4.� -4')4�����
kitllin� InfDrmyfl�n
?t�!i� C`�itir���
A9is[tlSC41:s1 C."ili� ilt�
7�S ��'��elUl.�ll'C41. 4UICi �
'��t�3iYii4�Jl�.�, L�iT� 5536�
ll�
24��fif�:� I. C]7 tr�1 CC��� I�i. fflfY.9Ji-
��]7—�? �-}��.�5
Ship�xinK �niormataon
Tntu�: ��'�.il{J {L':4[l�
Ila1�:;1'ivrre:
-Cr��:;acliu� ]1}
}',ti��ncnt 44i[h�riE:
��"r,�nsactiun 1`ti�pc:
.�l�nli C'odc:
�?-;1pr-21)] 9 t�:2�: ] r] I'f�� 1�
(� I !ali�[]t51i °??.�
'4°`isa :,;*���'fr9
Ixt�r� h.t!�
11��3 ;-�
Montac�llc� Chambe� �f �or�tmer�� 8, Ir��du�#ry
M�on#ic�lla, h�1N ��3��
Ua
m�rGy o�rrks]fitac�ll[7CCi.com
auli� C��e
Fram:
Sent:
�ubje+ct;
ir�fo�rnc�n#ic�llp�ei.c�rra
fv9or�day, Aprii ��, 2�1'9 11,�9 :�f�1
�n�ine P�yment �Cvnfirrr��ti€�n
�c���r c�nlit�� pa�,�z��t�t requ��t �ia� ��.�n rece:i�`L'i� �y}� Ib''�[)Ili1l:��117 (.'�7�i11F}�1` i3I� ��'om�z��rce ��c� lr�dustr��-
1':�� ei�[�nt C'[rnfirrra:rtit�n
��1.�nie: :fuli� C'h�.��e�'
Cr►n���n�': h�lanti�eil4r C'it�� c�f
Tr�n:��cti��n :�1�en�F�er. E� ] b8�)��6877�
L,asf -� [r(:'�cct �'�un�ber: 87b�
:�m�unt: ���,�U
�crlptic�n _ Itemjsj � _
~P�yment for Inua�ce #5�96 (Mo�rs�r�eq[� City ofj �h�mber �Lunch. Mernb�er $15.Of
�aym�nr .`ar In�t�i+�e #5�9 i (Mpnti�ellr� �rty �F) �.h�rrober Lurtch, h�lember $15.p+�
Payment fpr Int��iC� #5173 {NR�n�i�eJla Gity af� Charn�er Lur1Ch, h�femb�r $15.i}Q
C�uantiiy Tot�a Amo�r�t
7 �15 00
� $15.�0
� $15.0�
Grand T�tal� �4�.�p
- — �—�
�1��tis Lm�i! u��rs a���c�ir�at��all�� ���t3crat�c-1, �;��r ��u�,tic�r7s +��- t�edhack. �I�n;;� ��,r�tac;t 4�� ��-
�►fIor�te��lle� �"�yirmb�r s�f �urt�rrt�rce �t��i In�3aa�l��
?��5 �'ir�e S�lre�t �'(�� f3cks 1 ��? 1��I��i��icellck, �4�f;�; ;�, ;��
(7�3� ���,�-�'70f}
s�1tO��[;�.![i3�ni1 L� I1[kCC:1,�.[�d17
iltt�a„fr'�'�a �.��,ni�niic�:l lc�c�:i.cd�rn
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. �
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CM1Y �F A+1p�1TICEtL�
�Rt�+ �#all ��rd Tr�ansaction
Please �tt�c� t�e ir�woicef re[�ip# and any other �vailabl� �iacumentation ta �tF�is Form.
Ta be crsrv�pl�ted by purch�ser:
Arno�ur�t � . -�, ; -a4.,� i _ _
Circfe pur+�h�5er narne:
Tracy Ergen
� �1i�ki L�erhoff
��acFiel L�c�r�are�
J�ff 0'Neila
iN�yne Ob�rg
��r�h R�th�isb�r��r
j�r1�IPfEr ��hr�lb�r
An�ela Scl�umann
Jim 7F��r��
J��ob Thur�ar�d�r
;
:;
... " . �_y
�� � �
Ert7ployee �ign�tur �,.
0
� isor Si n t r�
�
C��te ap�rov d
��1��P�A f Yoj�t'�' # OC �Q'SCfl��f011
�-��'�17 �C.�i �
C�rcl� �ie�artm�ent cc�de:
�J�'C�� �x���'ISE �c3���
42I99�
43135C}
��1990
43 � 2�C�
4�� 1flU
44330�
4437�p[]
4�39'90
��C_r � ���
City Council
Admini5tration
�E �+��t i o r�s
Fi�l�n�e
Hur��n Re��rur`�es
�lannirog and Zoning
D3t� Prc�[��5ir�g
Cit.y Hall
E�[ar��orni� C?evelc�prn�nt
HRA
General Op�ratrng Supplfes
Newslett�r S�ervi�e5
hJliscellaneous Rrof 5ervpees
Postage
Tr�vel/Training Exp�n�e
Duss Nlerttiber�hip $. Subscrip
Li�ens�s and Permit5
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Julie Cheney
From: Angela Schumann
Sent: Thursday, May 9, 2019 8:13 AM
To: Julie Cheney
�c: Jim Thares
Subject: RE: Target $27.56
To EDA, Misc.
Angela Schumann
Community Development Director
City of Monticello
�tiTww.ci.monticello.inn.us
763-271-3224
Email correspondence tn and from the City of Monticello govern�nent office is subject io the Minnesota
Govern�nent Dgt� Practices act and anay be disclosed to third parties.
From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us>
Sent: Wednesday, May 8, 2019 2:58 PM
To: Angela Schumann <Angela.Schumann@ci.monticello.mn.us>
Subject: Target $27.56
Angela
Attached is a cc purchase by Vicki for some food items for the Downtown Round meeting. Where should this be coded?
Thanks,
JuCie CFieney
Finance Assistant
City of Monticello
763-271-3205
Julie.Cheney@ci.monticel lo.mn.us
APC�ci.monticel lo.mn.us
-� i���t���ll�
Email correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government Dntn Prnctices Act and mny be disclosed to third parties.
i
EDA Agenda: 06/12/19
5. Consideration of Resolution #2019-05 approvin� Fa�ade Improvement Grant
A�reement with A�osto Law Office
A. REFERENCE AND BACKGROUND
Agosto Law Office has submitted an application for the Downtown Fa�ade Improvement
Grant Program. Agosto is located at 142 West Broadway, and is considering
improvements to the front facade.
At this time, staff has requested that the applicant discuss their application with the EDA.
The applicant has provided the following in satisfaction of the grant guidelines and
application:
• Completed Application
• Project Plans — Rendering and Scope
• Proj ect Quotes/Estimates (Minimum of two)
• Property Legal Description
Within the application form, Agosto Law Office provides detail on proj ect impact and
scope as required. Staff has confirmed that tax payments are current on the property. The
applicant must also carry current insurance through completion of the grant proj ect.
The applicant has provided two quotes to complete the work as depicted in the rendering
provided by the Cuningham Group. The applicant has identified its preferred contractor
and, based on the quotes supplied, they propose to use the lowest quote from Chuba
Company. Chuba has previously completed some work for Agosto Law Office. In their
bid they have also identified significant building repairs needed beyond the fa�ade tasks.
These repairs are not considered to be part of the Fa�ade Improvement Program and the
applicant is not seeking funding for this work.
The total Fa�ade Improvement proj ect cost is estimated at $44,200 +/-, not including
building permit plan review, architectural drawings and inspection fees and a structural
engineering report, which together is estimated at $3,800.00 ($48,000). In the application,
Agosto Law Office proposes a financial commitment of $2,400 for the project, or 5% of
the total proj ect cost including permit fees which is the minimum amount required under
the Grant Program Guidelines. Agosto has indicated that if the proposal exceeds $52,500
additional owner matching funds will be provided as required.
The estimated proj ect cost is based on a scope similar to that which reviewed in a meeting
between staff, the applicant, Chuba Company and Cuningham Group. The project
involves the replacement of windows and trim on the Broadway fa�ade as well as a new
door, stucco refinishing and painting and installation of either regular transom windows or
false transom windows. The structural report is required to determine if the building front
has the integrity to accommodate the added weight of modern transom windows. If it is
determined that regular transom windows cannot be used, then false ones may be an
acceptable solution. The final quote also includes updated business signage and a historic
plaque. The applicant and contractor are planning to attend the meeting to answer any
questions on the project proposal.
Cuningham Group is in the process of completing an updated front fa�ade rendering which
EDA Agenda: 06/12/19
will include all updated work components. Completion of the final updated rendering is
included within the scope of the EDA agreement with Cuningham for each property. The
final rendering is required to be attached to the grant agreement and used as the required
proj ect completion guide.
The applicant has indicated that it has contacted a financial institution and has gotten
approval for debt financing for the deferred maintenance and structural work components
as well as the required owner contribution for the fa�ade improvements. Staff has not seen
this approval yet. It will be required as part of the execution of a Grant Agreement. The
total fa�ade project estimate is $48,000 including related fees, less the applicant's project
contribution of $2,400. The current grant guidelines stipulate a maximum of $50,000 in
funding per business. The prospective EDA grant for the project will be $45,600 +/-.
Staff has included an alternative action which allows the EDA to approve the grant
application pending financial commitment satisfactory to the EDA attorney for the project
differential. At the time that a grant application is approved, the applicant will be required
to provide a final contract from their selected contractor for staff and EDA attorney review.
The contract shall include the final proj ect scope, rendering and proj ect timeline, in
addition to the other requirements on Page 5 of the Fa�ade Improvement Program Grant
Guidelines.
B. ALTERNATIVE ACTIONS:
Motion to adopt Resolution #2019-OS approving Fa�ade Improvement Grant
Agreement with Agosto Law Office contingent on the following:
a. Completion of structural engineering report and verification by staff
that the proposed fa�ade improvements comply with the report
recommendations.
b. Financial commitment satisfactory to the EDA attorney for the
remainder of the proj ect cost.
c. Compliance with remaining grant guideline requirements.
d. Execution of a grant agreement including final proj ect rendering and
contractor contract meeting all program requirements.
2. Motion to table action on Resolution #2019-OS approving Fa�ade Improvement
Grant Agreement with Agosto Law Office contingent on the following:
a. Completion of structural engineering report and verification by staff
that the proposed fa�ade improvements comply with the report
recommendations.
b. Financial commitment satisfactory to the EDA attorney for the
remainder of the proj ect cost.
�
EDA Agenda: 06/12/19
c. Compliance with remaining grant guideline requirements
d. Execution of a grant agreement including final proj ect rendering and
contractor contract meeting all program requirements
3. Motion of other.
C. STAFF RECOMMENDATION:
Staff recommends Alternative #1. The presence of the applicant and the preferred
contractor at the meeting should help to answer any remaining questions about the
proposed fa�ade project. They can also give insight as to how the deferred maintenance
repair work will occur in relation to the fa�ade tasks. Staff believe that as improvements
begin under the Fa�ade Improvement Program, other property owners within the proj ect
area will take notice and move forward with their own applications.
D. SUPPORTING DATA:
A. Resolution 2019-OS
B. Grant Application w/ Quotes
C. Building Fa�ade Rendering
D. Grant Agreement Template
EDA RESOLUTION NO. 2019-05
RESOLUTION APPROVING A GRANT AGREEMENT
BETWEEN THE CITY OF MONTICELLO ECONOMIC
DEVELOPMENT AUTHORITY AND AGOSTO LAW
OFFICE
BE IT RESOLVED BY the Board of Commissioners ("Board") of the City of Monticello
Economic Development Authority (the "Authority") as follows:
Section 1. Recitals.
1.01. The Authority is a grantor as defined in Minnesota Statutes, Sections 116J.993 to
116J.995, as amended (the "Business Subsidy Act"), and is authorized to grant financial
assistance for private development, including grants.
1.02. The Authority and Agosto Law Office (the "Grantee") desire to enter into a grant
agreement (the "Grant Agreement") for a Downtown Fa�ade Improvement Grant (the "Grant") to
be used to pay a portion of the costs of certain fa�ade improvements, including transom windows,
signage, and entry door (the "Improvement Costs") on certain real property located at 142 W.
Broadway Street in the City of Monticello (the "Property"), in conformity to the Grant guidelines.
1.03. Pursuant to the Grant Agreement, the Authority will grant to the Grantee the sum of
$ (the "Grant") to reimburse a portion of the Improvement Costs.
1.04. Pursuant to Section 116J.993, Subdivision 3(1) of the Business Subsidy Act, the
Authority is not required to hold a public hearing on the Grant because the Grant is in an amount
less than $150,000, and is therefore not a business subsidy. The Authority further finds that the
purpose of the Grant is not the creation or retention of jobs. Therefore, notwithstanding the
requirements of Section 116J.994, Subd. 2 of the Business Subsidy Act, the Authority
determines that the terms of the Grant may deviate from the Authority's written business subsidy
criteria, and hereby sets the job and wage goals of the Grant at zero.
Section 2. Grant A�reement A�proved.
2.01. The Authority hereby approves the Grant Agreement in substantially the form
presented to the Board. The Authority further authorizes execution of the Grant Agreement and
all documents prepared in connection therewith, subj ect to modifications that do not alter the
substance of the transaction and that are approved by the President and Executive Director,
provided that execution of the Grant Agreement by such officials shall be conclusive evidence of
approval.
1
585528v1MN325-40
Approved this 12th day of June, 2019, by the Board of Commissioners of the City of Monticello
Economic Development Authority.
President
ATTEST:
Executive Director
585528v1MN325-40
,, T� f) F MONTICELLO EDA
� •
M�nticella DOWNTOWN FACADE IMPROVEMENT
- GRANT FUND APPLICATION
1. CONTACT INFORMATION
Legal Name of Business:
Project Site Address:
City / State / Zip:
Contact Person(s
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�s e:_
Ho�iSone:
Check One:
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❑ Proprietor ❑ Corporation � Partnership
Federal ID # State ID #
Legal Name of Property Owner: /%� �� �����
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Project Site Address:
City / State / Zip:
Contact Person(s):
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2.
PROJECT GOALS
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Email:
Please give a brief summary of the project:
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Please describe how the proposed project will positively impact the city's
downtown/Central Community District:]
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PROJECT FUNDING
A. GRANT USE FUNDING REQUEST
Maximum grant a�nount of $50,000
Fa�ade Improvements
Frontage Improvements
(Signage, awnings, permanent landscaping)
Total Grant Request:
B. OTHER PROPOSED FUNDING SOURCES
Bank Loan
Private Fund Commitment (5% re�uired)
Applicant Commitment
Other
Total Other Funding Sources
PROJECT TOTAL:
$
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PROJECT CONTACTS (Lenders, �rivate funding source, partners, etc...)
2�Page
Name
Addre:
Phone�
Name
Address
Phone/Email:
6. ATTACHMENTS CHECK LIST
Please attach the following:
_ A) Letter of Commitment from the Other Sources of Financing, Stating
Terms and Conditions of their Participation in Project (if applicable)
_ B) Project Plans (Architectural Rendering and Scope must be included)
C) Project Quotes/Estimates
D)Property Legal Description
7. AGREEMENT
I/ We certify that all information provided in this application is true and correct to the best
of my/our knowledge. I/ We authorize the Monticello EDA to verify financial and other
information. I/ We agree to provide any additional information as may be requested by
the city.
The undersigned has received the EDA's policy regarding the payment of costs of review,
understands that the EDA requires reimbursement of costs incurred in reviewing the
application, agrees to reimburse the EDA as required in the policy and make payment
when billed by the EDA, and agrees that the application may be denied for failure to
reimburse the EDA for costs as provided in the polic .
APPLICANT SIGNATURE ` . �
APPLICANT FAME (Print): �/ � �� �'+ � DSJ l/
PROPERTY OWNER NAME (Print): �I /� /ZCC/%I� � �G V ��`�""`''�
PROPERTY OWNER SIGNATURE: �
DATE: �/S/I %
The EDA is a governmental entity and as such must provide public access to public data it
receives. Data deemed by Applicant to be nonpublic data under State law skould be so
designated or marked by Applicant. See Minnesota Statutes, Sections 13.591, Subd. 1 and
2.
3�Page
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REAL ESTATE MORTGAGE
(With Future Advance Ciau�e)
I. DA1'� AND PARTIES. Tlic ciate oC this Mortgage is ... ����`'18g?. 25,_. 1997_,.,,, and the parties and their addresses
are as follows:
MORTGAGOR: JAMES..P,AGOS'I� .................................. JILL.,L.AGOS'I17.....................................
❑ Refer to the Addendum �n�l�ich is attached and incorporated hercin for additional Mortgagors.
LENDER� P?�'�?�?ID..BANK
.....................................................................................
ORC'=7aNI7FD, .ANL�.. EXLSTING . UNDII2..THE..I�AWS..OF . THE . STATE. _ OF. MINNESdI'A
2. D10R'PGAGIs. Cor good and valuable consideration, Uie receipt a�id sufficiency o[ which is acknowledged, aud to secure
the Secured Debt (hereafter defined), Mortgagor grants, bargains, sells, conveys and mortgages (o Lender, with the power
of sale, the following described properry: � WEST 7 FEEi' OF II.7P 11;
THE EAST 16 FEE�P OF LOT 12; IN BL(JC�C 35 IN TfIE VIL�L�AGE OF
NYJNTI�7, ACCGrcLitiG T"J PL�F?''_' OF PF'm'RD.
The }�roperty is located in .WRIC�PP ........................................................ at .....................................
(Cuunty)
.142..WEST,.BRO�DWAY MONTIC�I�1J ....................... Minncsota ....55.362.......
............................... ........
(Addre.ss) (Ciiy) (ZIP Codcl
Together with all rights, easemcnts, appurtenaiices, roy�lties, mineral rights, oil and gas rights, crops, timber, alI
diversion payments or third party payments made to crop producers, and all existing and future improvements, structures,
fixtures, and replacements that may now, or at any Cime in the fuCure, be part of the rcal estate described above (all
referred to as "Property"). The term Properry also includes, but is not limited to, any and a'll water wells, water, ditches,
reservoirs, rescrvoir sites and dams located on the real estate and all riparian and water riglits associated with the Property,
however establisheci.
3. MAXIMUM OI3LIGAT[ON LIDIIT. The total principal amount of the Secured Deb[ (hereafter defiued) secumd by this
Mortgage at any one time shall not exceed $ 83,,000,.00 ........................ . This limitatiou of amount does not include
interest, loan charges, commitment fees, brokerage commissions, attorneys' fees and otlier charges validly made pursuant
to this Mortgage and does not apply ro advances (or interes[ accnied on sucl� advance�) made under the terms of this
Mortgage ro protect Lender°s security and to perform any of the covenants contained in this Mortgage. Future advances
are cnntemplated ar.d, al�i�g with otlier fuh�re obl��ations, a.-e �ecured hv lhia Mortgage even rhnuall �II or part may not
yel be advanced. Noihing in this Mort�age, liowever, shall constitute a commitment to make addilional or future loans or
advances in any amount. Any such cominitment would need to be agroed to in a separale writi��g.
SECUREll DGBT DGP'INGU. The tern� "Secured Debt" includes, but is not limited to, the following:
A. The promissory note(s), contract(s), guarant�-(s) or other evidence of debt described below aud all extensions,
renewals, modifications or substitutions (Evidence of Debt): .��..#66632,005..IN � AI�JUNT OF .,,..,,,,
...........................
.$83.,.000., 00. nATED.NOVII"1BER.25,...1997 ............... .
...........:....... ..........................................
.......................................................................................................................................
.............................................................................................................................................
.............................................................................................................................................
(e.g.. hnrrrnw�r'e rmmr. nnle nn��qun, inlorrsl ra(e, rnoi,- ..�. dnle)
[MINNESOTAI - AGRICULTURAI �COMMERf,IAL MORTGAGE R:��.; FOqFNM^ �IIfMC.FHAORV�USF.ANDNOTfORCi'�' "�fFlPURPOSESI page 1 of 6
m 1993 Baiik��rs Systems, Inc.. Si r i„�i��, MN � I R00-397 :'141� Fn���� , ��O-MT� �. �"1 5/8/97
��A •
1��
■�■
Proposal for:
Monticello Fa ade
�
Im rovements
p
Buildin #3
g
Monticello, Minnesota
Contents:
Proposal
Division 1 General Conditions
Division 2 Site work
Division 4 Masonry
Division 5 Metals
Division 6 Woods & Plastics
Division 7 Thermal & Moisture Protection
Division 8 Doors and Windows
Division 9 Finishes
Division 16 Electrical
Notes:
-Pricing is for preliminary budgeting purposes. Design Work is Incorporated into overall
construction pricing.
-A gypsum drywall soffit was figured where glass transoms and larger windows are to be
installed to let in intended light. Acoustical Ceiling will bridge the gap from storefront
wall to soffit. Each building will have different finishes to accoinmodate when final plans
are developed, but money was figured for limited interior work as a placeholder in the
budget.
1��
■��
March 28, 2019
Proposal for: Monticello Fa�ade Improvements — Building #3
Building #3
l42 W Broadway St,
Monticello, MN 55362
Ms. Jill Agosto,
Thank you for giving Scott Builders the opportunity to assist you in bringing this project
to fruition. We are looking forward to working with you on your project in Monticello,
Minnesota. Per our discussions and visits to your to the project location, we have
prepared the following proposal for your use for business plans, financial discussions
and use for submission to the City of Monticello.
Our proposal is for the sum of $81,872.00 Please see below for descriptions on what is
included in this price.
Again, we look forward to working with you as this project progresses. If you need
anything else from us, please do not hesitate to contact me.
Regards,
Derek Anderson
Project Manager
Scott Builders. Inc.
`1\
r��
Division 1: General Conditions
Jill Agosto will provide a satisfactory set of warking drawings for Scott Builders
through the design build process. Scott Builders will host design meetings in which Jill
Agosto will be able to go over the specifications of the project at 142 W Broadway St. in
Monticello, Minnesota with the appropriate officials. All costs for design work are
incorporated into this price. This proposal is based on knowledge of the city in which the
project will take place and building codes, laws and regulations.
Jill Agosto has been given permission for the use of this location for Building
Fa�ade Improvements. The land is properly zoned for this use and Scott Builders will
handle fees, permits and taxes from this point forward with this budget. Scott Builders
will obtain the appropriate permits required for construction in the city of Plymouth and
the state of Minnesota. Any other special rec�uirements are not included in this proposal.
Buildin� #3
DIVISION 2 SITE WORK
Demolition
• Remove and dispose of noted storefront.
DIVISION 5 METALS
Ornamental Metal and Fabrication:
• Furnish and install Deco Channel, Galvanized and powder coated.
Division 7 Thermal & Moisture Protection
• Prep face of wall for new PB EIFS
• Furnish and install new PB EIFS with air barrier at storefront.
DIVISION 8 DOORS AND WINDOWS
Glass, Glazing & Storetronts:
• Furnish and install new aluminum transoms per plan above existing
Storefront glass. (Header would need to be fra�ned to divide and
suppo�t t�^ansom.)
1��
■.�
DIVISION 9 FINISHES
Rough Carpentry & Gypsum Drywall:
• Patch demo scars from removed storefront/windows.
• Furnish and install gypsum drywall Soffit 8' behind face of storefront
glass to allow light in from new transom to enter.
Acoustical Ceilings:
• Furnish and install 2'x2' acoustical ceiling grid and ceiling tile at
front 8' of new storefront faCade and 4' patch back at backside of new
gypsum drywall soffit.
Painting:
• Paint new soffit at front entry.
DIVISION 10 SPECIALTIES
Signage:
• Furnish and install 12" high x 1/4" thick flat cut aluminum letters for
"Agosto Law" at front fa�ade of building with blind studs and silicone
adhesive.
• Furnish and install 48" high x 54" wide non-illuminated double face
blade sign.
DIVISION 16 ELECTRICAL
• Allowance of $500.00 to disconnect and relocate existing lighting
fixtures at interior of building for install of new storefront.
Alte�nate: Price to include Design, stucco repair at side and
rear of building, gutter/downspout and ice melt system. ADD
$67,590. 00
7 H E
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CQMPANY
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I`l�t�hin� �inc� c��u��:irZ�; to bc'. L�{Jf1C 111 �(lI1�L1�ICTlf)I] �}%lt�l .tc�i��-�rvnt. �las�
itz�t��llari��rj
l�emc�vc� eais�ii�� stc�r��rc�ilr �las:� .lf1L� IT':iI171i1�
Insral] (;:1II cic�r at7c�di�c� �tc:srcfe��tlt c��trailc� ���it�� :�i�clitc t�r�i��ir��; Eti-it�z 1'.
cicar, ]cjt�;�-L: �;las�
I7��r�r t� k�t tn��iurn �til� �t�-it�l � 0" l}�ttc�m raiZ, _1c��Y��:; �Zitc ��15 hc�c��t�alt lr�cl:,
��ff�er ���sh/��ull l�a���ilc�, aci� 5urf�ce inounic�d F�aIcc�n ��c��er
I`'rc?t�t cntz-�' tc� n�at��� c�i�tin� si�htlines
T'crnPrara�' hcatjscct2rit�° encic�su�•c (if r�c�c�ccl} «�ill ��c� ;ar ,��lc�iti����l cc�st
Subtotal = 525,54�.37 + �cz-mit cc�st�
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(The Chuba Co�npany i.r ony able to provide buclgetayy ni�mber.r �zt thi.r ti�ne a.r there are no
ap��oved �le.rignJ��dimen.rion.r in plc�ce�
To include large scale building signage above storefront
New illuminated tenant signage hung perpendicular to facade
9" x 11" b�onze historic plaque mounted to EFIS exterior
Address and contact info decals on door (storefront)
Budget an�ount = 10,000.00
r�dditional exterior- upgrades:
Remove and dispose of all damaged stucco from side and rear elevation of
building
Install new class PB EFIS �vith weadzer barrier over e�sting sheathing (if not
damaged) to match the front of the building
�1 YIe ivill neec� a site visit ivith the electrzcian to �liscus.r the code colnpliancy of exisiing
elect�zcal Jneter.s location anc� ynean.r of in.rtallation
�ub-total = �58,5�9.00
Remove (non-code compliant) rear entry door and window
Rev?se framing to allow for correct door size
Replace door with new CMI dark bronze anodized storefront entrance with 1"
clear, low-E glass
Door to have medium stile with 10" bottom rail, �dams Rite MS hookbolt
lock, offset push/pull handles, and surface mounted Falcon closer
Replace window with new CMI dark bronze anodized stationary storefront
frame with 1" clear, low-E glass
Sub-total = �5,716.00
2 of 6 Initial:
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Remove existing plywood soffit panels, and facia board above rear entrance to
expose framing
Inspect, replace, and repair as necessarv
Install new center vent aluminum soffit panels
Install new sub-facia board
Install new custom bent, aluminum facia
Sub-total = �1,286.10
Remove and haul a��ay roofing material from parapet walls
Remove and haul away existing cap metal
Furnish and install plywood to the inside of parapet walls
Furnish and install climensional lumber on east parapet wall
Furnish and install '/2" EPS "fan-fold" insulation over existing roofing system
Furnish and install mechanically fastened Duo-Last roofing system according
to manufacturer's specifications including:
�pre-fabricated 50 Mil single ply roofing membrane (Energy-Star wlute)
�pre-fabricated parapet wall flashing
�poly-plates and associated fasteners
�pipe flashings
�2-way vents (1 per 1,000 sq. ft)
�Walk Trac III ��a1k pads to be placed around 1�C unit (2)
Furnish and install 4" D-edge on south-side of building
Furnish and install weldable metal D-edge on west wall
Furnish and install 6", two-piece compression metal on east and north wall
Sub-total = �38,825.00
3 of 6
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(NO HIDDEN COSTS)
Prices include tax, labor, material, clean up and removal of all job-related
debris, all manufacturers' warranties, and a Lifetime Workmanship Warranty
from The Chuba Company.
NO FURTHER DISCOUNTS OR COUPONS ALLOWED WITH
THIS OFFER (Bid is good for 30 da��s)
If Builder discovers conditions or defects in the Property which affect the performance of
the Improveinents, including, but not limited to hazardous substances, asbestos, lead-
based paint, code violations, or upgrades or additional improvements required by
applicable building codes or building code officials, or if Builder encounters other
circumstances that are reasonably beyond Builder's control (collectively, "Unexpected
Conditions"), Owner agrees to be responsible for the Unexpected Conditions, and all
costs associated with remedying the Unexpected Conditions, including a reasonable
amount to cover: (i) Builder's overhead, and (ii) Builder's standard profit margin.
Builder may require Owner to deposit an amount sufficient to cover the cost of
remedying the Unexpected Conditions before Builder will be obligated to start work to
remedy the Unexpected Condition in question, and work on the Improvements may be
suspended until the Unexpected Conditions are remedied.
Mechanic's Lien Notice. Builder is required under Minnesota Law to provide the
following notice:
"(a) ANY PERSON OR COMPANY SUPPLYING LABOR OR
MATERIALS FOR THIS IMPROVEMENT TO YOUR PROPERTY MAY
FILE A LIEN AGAINST YOUR PROPERTY IF THAT PERSON OR
COMPANY IS 1�iOT PAID F�R THEIR CONTRIBUTIONS.
(b) UNDER MINNESOTA LAW, YOU HAVE THE RIGHT TO PAY
PERSONS WHO SUPPLIED LABOR OR MATERIALS FOR THIS
IMPROVEMENT DIRECTLY AND DEDUCT THIS AMOUNT FROM
OUR CONTRACT PRICE, OR WITHHOLD THE AMOUNTS DUE THEM
FROM US UNTIL 120 DAYS AFTER COMPLETION OF THE
IMPROVEMENT UNLESS WE GIVE YOU A LIEN WAIVER SIGNED
BY PERSONS WHO SUPPLIED ANY LABOR OR MATERIAL FOR THE
IMPROVEMENT AND WHO GAVE YOU TIMELY NOTICE."
OWNER'S INITIALS:
4 of 6 Initial:
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Owner The "Performance Guidelines" referenced in attached Exhibit A. The
Performance Guidelines are included as required by Minnesota Statutes Section
326B.809(b) and incorporated herein by reference. Owner acknowledges receipt
of the Performance Guidelines prior to signing this Agreement
A copy of Minnesota Statutes Chapter 327A is attached as Exhibit B and has been
provided to Owner in compliance with Minnesota Statutes Section 327A.08. Owner
acknowledges receipt of the same, that the provisions of Minnesota Statutes Chapter
327A are included as part of this Agreement, and that this Agreement and the copy of
Chapter 327A together constitute a written warranty instrument as required by Section
327A.08. The parties hereby agree to waive and replace the dispute resolution process
specified in Minnesota Statutes Section 327A.051 and agree to resolve any disputes as
provided herein or otherwise provided under Minnesota law.
Owner acknowledges receipt of the Lead Hazard Pre-Renovation Disclosure
Acknowledgement attached hereto as Exhibit C, and that the same is incorporated herein
by reference.
Builder has the right to stop construction of the Improvements if Owner fails to make any
progress payment at the time or in the manner required by this Agreement or otherwise
defaults under this Agreement. Builder need not resume construction until Owner has
brought all payments current and cured any other defaults of Owner under this
Agreement. The anticipated date of completion shall be extended for the period of the
delay caused by Owner's non-payment or default. Owner agrees to pay for all collection
costs, including employee time and expense and all attorneys' fees and costs Builder
incurs in collecting payment and/or protecting its interests in Owners' past due account or
otherwise enforcing performance of this Agreement
Builder will begin work on the Improvemer;ts on a date to be mutually agreed upon
between Builder and Owner.
In the event that MN Building Code Section 314.5 is enforced, additional costs incurred
to hardwire smoke alarms will be the homeowners' responsibility.
If Owner instructs Builder to perform items of work or improvement other than as exactly
specified in any applicable insurance estimate, Owner bears the sole risk of non-payment
from Owner's insurance company for failure to perform the exact work or improvement
approved by the insurer. In such event, Owner shall still be responsible to pay Builder in
full for all labor and materials Builder provides to the Property, regardless of whether
Owner successfully recovers all insurance proceeds sufficient to cover the full cost of the
labor and materials.
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General terms:
- Payments in stages at completion of each phase of construction
- Total balance due upon substantial completion
- ALL change Orders/Extras due at time of change or extra selection.
- Payment by Cash, Check, Visa or MasterCard.
In accordance with Chapter 324-5. F, No. 1886 The Chuba Company will not
advertise or promise to pay or rebate all or part of any applicable insurance
deductible.
Thank you for this opportunity to earn your business.
Respectfully,
�P.r�e,�v LVa,r� '
The Chuba Company
19276 Vernon St. NW
Elk River, MN 55330
Ph: 763-441-4488
C: 612-413-2226
Fax: 763-441-5835
MN Builder license #BC628158
Owner
Owner
Date
Date
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GRANT AGREEMENT
This Grant Agreement ("Agreement") is made this day of , 2018,
between the City of Monticello Economic Development Authority, a public body corporate and
politic and political subdivision of the State of Minnesota ("Grantor"), and
, a Minnesota ("Grantee").
RECITALS
A. Grantor has duly established its Downtown Fa�ade Improvement Grant Program
(the "Program") and has approved guidelines for said Program.
B. Grantee has submitted an application for a grant pursuant to the Program guidelines,
and Grantor has approved a grant to the Grantee in the maximum principal amount of $
(the "Grant") to pay a portion of the costs of certain fa�ade improvements at Grantee's
business located at in the City of Monticello, Minnesota (the
"City"), as more fully described in Exhibit A hereto (the "Improvements").
C. The Grantor and Grantee have negotiated the terms of the Grant, and now desire to
memorialize such terms in this Agreement.
ACCORDINGLY, to induce Grantor to make the Grant to Grantee, and for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:
1. The Grant Amount. Subj ect to and upon the terms and conditions of this
Agreement, Grantor agrees to grant to Grantee the sum of and no/100ths Dollars
($ ). Proceeds of the Grant shall be disbursed in accordance with Section 2 hereof.
2. Disbursement of Grant Proceeds.
(a) All Grant proceeds shall be paid to Grantee in accordance with the terms and
conditions of this Agreement. Notwithstanding anything to the contrary herein, if the cost of
the Improvements exceeds the amount to be reimbursed under this Agreement, such excess
shall be the sole responsibility of the Grantee.
(b) On the date of closing on the Grant, all Grant proceeds shall be deposited
into an escrow account with an escrow agent (the "Escrow Agent") selected by the Grantor.
The disbursement of proceeds of the Grant will be made subject to the conditions precedent
that prior to or as of each date of disbursement:
(i) The Grantor has received from Grantee, without expense to Grantor,
an executed copy of this Agreement and of an escrow agreement in substantially the
form attached as Exhibit B(the "Escrow Agreement");
538719v3MN325-40 1
(ii) The Grantor and Escrow Agent have received from the Grantee's
authorized representative one or more draw requests in substantially the form
attached to the Escrow Agreement (each a"Draw Request"), certifying with respect
to each requested disbursement: that each item for which the disbursement is
proposed is included in the Improvements, accompanied by paid or payable invoices
or other comparable evidence that the cost has been incurred and paid or is payable
by Grantee; provided that each Draw Request must be made for a minimum amount
of the lesser of $5,000 or the balance of escrowed Grant proceeds;
(iii) Grantee has provided evidence satisfactory to Grantor that Grantee
has established an account for the exclusive purpose of recording the receipt and
expenditure of the Grant proceeds;
(iv) Grantee is in compliance with the terms of the Fa�ade Improvement
Program Guidelines and this Agreement;
(v) Upon final disbursement of Grant proceeds, Grantee has obtained
lien waivers from all contractors and sub-contractors for all work and/or materials in
connection with the Improvements; and
(vi) No Event of Default shall have occurred and be continuing.
Representations and Warranties. Grantee represents and warrants to Grantor that:
(a) Grantee is duly authorized and empowered to execute, deliver, and perform
this Agreement and to receive the Grant from Grantor.
(b) The execution and delivery of this Agreement, and the performance by
Grantee of its obligations hereunder, do not and will not materially violate or conflict with
any applicable provision of law and do not and will not materially violate or conflict with, or
cause any default or event of default to occur under, any material agreement binding upon
Grantee.
(c) The execution and delivery of this Agreement has been duly approved by all
necessary action of Grantee, and this Agreement has in fact been duly executed and
delivered by Grantee and constitutes its lawful and binding obligation, legally enforceable
against it.
(d) Grantee warrants that it shall keep and maintain books, records, and other
documents relating directly to the receipt and disbursements of Grant proceeds and that any
duly authorized representative of Grantor shall, with reasonable advance notice, have access
to and the right to inspect, copy, audit, and examine all such books, records, and other
documents of Grantee pertaining to the Grant until the completion of all closeout procedures
and the final settlement and conclusion of all issues arising out of this Grant.
(e) Grantee warrants that it shall keep and maintain current property insurance
538719v3MN325-40 2
from the date of this Agreement through completion of the Improvements, and will ensure
that its selected contractor carries commercial general liability insurance in at least the
amount of the cost of the Improvements.
(� Grantee warrants that to the best of its knowledge, it has fully complied with
all applicable state and federal laws reasonably relevant to this Agreement and will continue
to comply throughout the terms of this Agreement. If at any time Grantee receives notice of
noncompliance from any governmental entity, Grantee agrees to take any necessary action
to comply with the state or federal law in question.
(g) Grantee warrants that it will use the proceeds of the Grant made by Grantor
solely for the Improvements.
4. No Business Subsidv. The parties agree that the Grant is not a business subsidy as
defined in Minnesota Statutes, Sections 116J.993 to 116J.995, as amended (the "Business Subsidy
Act"), because the assistance is in an amount less than $150,000. [IF AMOLJNT GREATER
THAN $25,000: Notwithstanding the foregoing the parties agree and acknowledge that
disbursement of the Grant complies with the Grantor's written criteria for the granting of business
subsidies (the "Criteria"), provided that the Authority agrees to deviate from the job creation
requirements provided in the Criteria, since the Grant is for the purposes of downtown revitalization
and job retention articulated in such Criteria and not for the purpose of job creation. The Grantee
releases and waives any claim against the Grantor and its governing body members, officers,
agents, servants and employees thereof arising from application of the Business Subsidy Act to
this Agreement, including without limitation any claim that the Grantor failed to comply with the
Business Subsidy Act with respect to this Agreement.]
5. Event of Default bv Grantee. The following shall be Events of Default under this
Agreement:
(a) failure to complete any part of the Improvements within 180 days after the
date of this Agreement;
(b) any representation or warranty made by Grantee herein or in the Escrow
Agreement is false when made;
(c) Grantee files a petition under any chapter of the Federal Bankruptcy Code or
any similar law, state or federal, now or hereafter existing becomes "insolvent" as that term
is generally defined under the Federal Bankruptcy Code, or is adjudged a bankrupt or
insolvent, or has a custodian, trustee, or receiver appointed for, or has any court take
jurisdiction of its property, or any part thereof, in any proceeding for the purpose of
reorganization, arrangement, dissolution, or liquidation, and such custodian, trustee, or
receiver is not discharged, or such jurisdiction is not relinquished, vacated, or stayed within
thirty (30) days of the appointment;
(d) any material breach or failure of Grantee to perform any material term or
condition of this Agreement not specifically described as an Event of Default in this
538719v3MN325-40 3
Agreement and such breach or failure continues for a period of thirty (30) days after Grantor
has given written notice to Grantee specifying such default or breach, unless Grantor agrees
in writing to an extension of such time prior to its expiration; provided, however, if the
failure stated in the notice cannot be corrected within the applicable period, Grantor will not
unreasonably withhold its consent to an e�tension of such time if corrective action is
instituted by Grantee within the applicable period and is being diligently pursued until the
Event of Default is corrected, but no such extension shall be given for an Event of Default
that can be cured by the payment of money (i.e., payment of taxes, insurance premiums, or
other amounts required to be paid hereunder).
6. Grantor's Remedv upon Grantee's Default. Upon an Event of Default by Grantee
and after provision by Grantor of written notice, Grantor shall have the right to suspend or terminate
its performance under this Agreement.
7. Indemnification.
(a) Grantee shall and does hereby agree to indemnify against and to hold
Grantor, and its officers, agents, and employees, harmless of and from any and all liability,
loss, or damage that it may incur under or by reason of this Agreement, and of and from any
and all claims and demands whatsoever that may be asserted against Grantor by reason of
any alleged obligations or undertakings on its part to perform or discharge any of the terms,
covenants, or agreements contained herein.
(b) This indemnification and hold harmless provision shall survive the
execution, delivery, and performance of this Agreement and the payment by Grantor of any
portion of the Grant.
(c) Nothing in this Agreement shall constitute a waiver of or limitation on any
immunity from or limitation on liability to which Grantee is entitled under law.
8. Miscellaneous.
(a) Waiver. The performance or observance of any promise or condition set
forth in this Agreement may be waived, amended, or modified only by a writing signed by
Grantee and Grantor. No delay in the exercise of any power, right, or remedy operates as a
waiver thereof, nor shall any single or partial exercise of any other power, right, or remedy.
(b) Assi n� ment. This Agreement shall be binding upon the parties, their
successors and assigns. All rights and powers specifically conferred upon Grantor may be
transferred or delegated by Grantor to any of its successors and assigns. Grantee's rights and
obligations under this Agreement may be assigned only when such assignment is approved
in writing by Grantor; except that if such assignment is made to an affiliate or subsidiary of
Grantee, Grantee may assign any of its rights or obligations to such affiliate or subsidiary
upon written notice to the Grantor.
538719v3MN325-40 4
(c) Governin� Law. This Agreement is made and shall be governed in all
respects by the laws of the state of Minnesota. Any disputes, controversies, or claims
arising out of this Agreement shall be heard in the state or federal courts of Minnesota, and
all parties to this Agreement waive any objection to the jurisdiction of these courts, whether
based on convenience or otherwise.
(d) Severabilitv. If any provision or application of this Agreement is held
unlawful or unenforceable in any respect, such illegality or unenforceability shall not affect
other provisions or applications that can be given effect, and this Agreement shall be
construed as if the unlawful or unenforceable provision or application had never been
contained herein or prescribed hereby.
(e) Notice. All notices required hereunder shall be given by depositing in the
U. S. mail, postage prepaid, certified mail, return receipt requested, to the following
addresses (or such other addresses as either party may notify the other):
To Grantor: City of Monticello Economic Development Authority
505 Walnut Street, Suite 1
Monticello, MN 55362
Attn: Executive Director
To Grantee:
Attn:
(f) Termination. Upon the final date of disbursement of Grant proceeds under the
Escrow Agreement, or if the Grant is not disbursed pursuant to this Agreement by ,
201� this Agreement shall terminate and neither party shall have any further obligation to the
other, except that if the Grant is not disbursed because Grantee has failed to use its best efforts to
comply with the conditions set forth in Section 2 of this Agreement then Grantee shall pay to
Grantor all reasonable attorneys' fees, costs, and expenses incurred by Grantor in connection
with this Agreement.
(g) Entire A�reement. This Agreement, together with the Exhibits hereto, which are
incorporated by reference, constitutes the complete and exclusive statement of all mutual
understandings between the parties with respect to this Agreement, superseding all prior or
contemporaneous proposals, communications, and understandings, whether oral or written,
concerning the Grant.
(h) Headin�s. The headings appearing at the beginning of the several sections contained
in this Agreement have been inserted for identification and reference purposes only and shall not be
used in the construction and interpretation of this Agreement.
538719v3MN325-40 S
IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the
proper officers thereunto duly authorized on the day and year first written above.
GRANTOR:
MONTICELLO ECONOMIC DEVELOPMENT
AUTHORITY
By:
Its President
By:
Its Executive Director
[SIGNATi JRE PAGE TO GRANT AGREEMENT - CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITYJ
538719v3MN325-40 6
GRANTEE:
:
Title:
[SIGNATiJRE PAGE TO GRANT AGREEMENT-
538719v3MN325-40
EXHIBIT A
IMPROVEMENTS
538719v3MN325-40 A-1
EXHIBIT B
ESCROW AGREEMENT
FA�ADE IMPROVEMENT GRANT PROGRAM ESCROW AGREEMENT
This Agreement is entered into this day of , 20� by and between (the
"Grantee"), , a Minnesota (the "Escrow Agent"), and
the City of Monticello Economic Development Authority, a public body corporate and politic
under the laws of Minnesota (the "Authority").
Purpose
The purpose of the escrow established pursuant to this Agreement is to provide assurance to the
Authority that Grantee will complete the proposed improvements ("Improvements") described in
the Grant Agreement between the Authority and the Grantee dated (the
"Grant Agreement"), which is incorporated herein by reference.
Escrow
The Escrow Agent hereby acknowledges receipt from the Authority of $ in
Fa�ade Improvement Grant funds (the "Grant Funds") to be disbursed in connection with the
construction by Grantee of the Improvements.
Grant Funds will be disbursed to the Grantee in one or more payments as evidenced by the
provisions of this section. Before disbursement of any Grant Funds deposited hereunder,
Grantee must submit to the Authority and Escrow Agent a draw request in substantially the form
attached hereto as Exhibit A(the "Draw Request") containing evidence showing that costs for
the Improvements have been paid or incurred by the Grantee in at least the amount requested,
provided that Draw Requests must be made for a minimum of the lesser of $5,000 or the balance
of unpaid Grant Funds. Prior to the final disbursement of Grant Funds, the Grantee must submit
to the Authority and Escrow Agent lien waivers from all contractors or sub-contractors
performing work or supplying materials in connection with the Improvements. The Authority
may, if not satisfied with the evidence provided, request such further documentation or
clarification as the Authority may reasonably require. The Authority will authorize disbursement
by the Escrow Agent of the Grant Funds upon receipt and approval of the Grantee's Draw
Request evidencing Improvement Costs in at least the amount of the requested disbursement.
Final disbursement of Grant Funds must be made no later than six months after the date hereof.
Indemnitv
Grantee agrees to indemnify and hold harmless the Authority from and against any claim,
damage, liability, loss or expense, including reasonable attorney's fees, made by any party in
290813v1 MNI MN190-116 1
538719v3MN325-40
connection with the performance of obligations under this Agreement.
Title and Escrow Char�es
Any escrow fees will be paid by Authority.
Termination
This Agreement will terminate upon the earlier to occur of one of the following: i) mutual
written agreement of the parties; ii) disbursement of all Grant Funds to Grantee; or iii)
[date six months after execution of Agreement]. Any balance of Grant Funds
remaining in escrow as of will be returned to the Authority.
290813v1 MNI MN190-116 2
538719v3MN325-40
[Grantee]
I�
Date:
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
Executive Director
[Escrow Agent]
By:
Its
290813v1 MNI MN190-116
538719v3MN325-40
Date:
Date:
EXHIBIT A TO ESCROW AGREEMENT
DRAW REQUEST — DOWNTOWN FA�ADE IMPROVEMENT GRANT
TO: City of Monticello Economic Development Authority
505 Walnut Street, Suite 1
Monticello, MN 55362
Attn: Executive Director
DISBURSEMENT DIRECTION
The undersigned Authorized Representative of , a
(the "Grantee"), hereby authorizes and requests you to disburse from
proceeds of the Grant, in accordance with the terms of the Grant Agreement between the City of
Monticello Economic Development Authority ("Lender") and the Borrower, dated as of
, 2019 (the "Agreement"), the following amount to the following person and for
the following proper Grant-related costs:
Amount:
2. Payee:
3. Purpose:
all as defined and provided in the Agreement. The undersigned further certifies to the Lender
that (a) none of the items for which the payment is proposed to be made has formed the basis for
any payment previously made under Section 2 of the Agreement (or before the date of the
Agreement); and (b) that each item for which the payment is proposed is eligible for funding from
the proceeds of the Grant.
Dated:
Borrower's Authorized Representative
290813v1 MNI MN190-116 4
538719v3MN325-40
EDA Agenda - 6/ 12/ 19
6. Consideration of Rivertown Residential Suites' Exterior Elevation Plans (TT)
A. REFERENCE & BACKGROUND
The EDA is asked to review and approve the e�terior elevation plans for Rivertown
Residential Suites (Briggs Companies). As a reminder the EDA reviewed and
approved plans for development of the 47-unit apartment through a newly
established Affordable Housing TIF District in June 2018. The developer has been
tweaking the e�terior elevations since the initial approval in an effort to further
enhance the look in the flavor of cutting-edge urban architecture while also using
colors that reflect the traditional buildings that are adj acent to the proj ect.
The attached elevation plans are the latest submittal by the developer. The plans show
some of the same colors and look that was shown to the EDA in its first proj ect review
meetings in Apri12018. The developer will be in attendance at the meeting to review the
elevation details and provide an update on the progress of the project.
Al. Staff Impact: Staff time involved in the Rivertown Residential Suites project is
estimated at 80 to 95 hours for all aspects of the TIF related work components. The
elevation review is just a tiny portion of that time. No additional staff are needed to
complete the required tasks related to the successful completion of the development and
ongoing administration of the TIF District.
A2. Budget Impact: The budget impact is minimal. The cost for final review of the
elevations is related to payroll costs for in-house staff. The tasks involved in the
elevation review is partly covered by escrow deposits provided by the developer. At this
point, the developer has deposited $15,000 in the escrow account to cover TIF related
expenses. Additional funds have been deposited for plan review and land use approvals.
A3. Strategic Plan Impact: The proposed program meets the following Strategic Plan
Goals:
• Create and Preserve Sustainable Livability: Work to attract and develop a
healthy mix of housing options.
B. ALTERNATIVE ACTIONS
L Motion to establish approve final elevation plans of Rivertown Residential Suites
(47-unit multi-family development) per the project approval steps outlined in the
Contract for Private Development entered into by the EDA and Developer in July
2018
2. Motion to deny approval of final elevation plans of Rivertown Residential Suites
(47-unit multi-family development) per the project approval steps outlined in the
Contract for Private Development entered into by the EDA and Developer in July
2018
EDA Agenda - 6/ 12/ 19
3. Motion to table approval of final elevation plans of Rivertown Residential Suites
(47-unit multi-family development) per the project approval steps outlined in the
Contract for Private Development entered into by the EDA and Developer in July
2018 for further research and/or discussion.
4. Motion of other.
C. STAFF RECOMN�NDATION
Staff recommends alternative # 1. The elevation plan submitted by the developer as
the final set is similar to the initial version that was reviewed by the EDA last June.
Changes involve tweaks to the stone color and style, amount of stone (increase) and
trim treatments, capstone-fascia and signage. The project is currently progressing.
Work items completed in the past two weeks include the completion of parking
structure-sidewalls and backfilling. The developer will be present at the meeting to
answer questions that the EDA has about the elevation plan as well as the overall
proj ect and timeline.
SUPPORTING DATA
A. Most Recent Elevation Plan Set (submitted May 2019)
B. Original-Approval Elevation Plan Set (May 18, 2018)
C. Contract for Private Redevelopment (July 11, 2019)
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EXECUTION COPY
CONTRACT
FOR
PRIVATE REDEVELOPMENT
By and Between
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
and
RIVERTOWN RESIDENTIAL SUITES, LLC
Dated as of: July 11, 2018
This document was drafted by:
KENNEDY & GRAVEN, Chartered (MNI)
470 U.S. Bank Plaza
Minneapolis, Minnesota 55402
Telephone: (612) 337-9300
521619v3 MNI MN190-156
TABLE OF CONTENTS
PREAMBLE............................................................................................................................1
ARTICLE I
Definitions
Section1.1. Definitions ..........................................................................................................2
Section 2.1.
Section 2.2.
Section 3.1.
Section 3.2.
Section 3.3.
Section 3.4.
Section 3.5.
Section 3.6.
ARTICLE II
Representations and Warranties
Representations by the Authority ....................................
Representations and Warranties by the Redeveloper......
ARTICLE III
Property Acquisition; Public Redevelopment Costs
.............................5
.............................5
Status of the Redevelopment Property ...............................................................7
EnvironmentalConditions .................................................................................7
Public Redevelopment Costs; Issuance of Note ................................................7
OtherAssistance ................................................................................................7
Payment of Administrative Costs ......................................................................8
NoBusiness Subsidy ..........................................................................................9
ARTICLE IV
Construction of Minimum Improvements
Section 4.1. Construction of Minimum Improvements .......................................................10
Section 4.2. Construction Plans ...........................................................................................10
Section 4.3. Completion of Construction .............................................................................11
Section 4.4. Certificate of Completion ................................................................................11
Section 4.5. Records and Reports ........................................................................................11
Section4.6. Income Limits ..................................................................................................11
ARTICLE V
Insurance
Section5.1. Insurance ..........................................................................................................14
Section5.2. Subordination ...................................................................................................15
ARTICLE VI
Tax Increment; Taxes
Section 6.1. Right to Collect Delinquent Taxes ...................................................................16
Section6.2. Review of Taxes ..............................................................................................16
i
521619v3 MNI MN190-156
ARTICLE VII
Financing
Section7.1. Generally ..........................................................................................................18
Section 7.2. Authority's Option to Cure Default on Mortgage ............................................18
Section 7.3. Modification; Subordination ............................................................................18
ARTICLE VIII
Prohibitions Against Assignment and Transfer; Indemnification
Section 8.1. Representation as to Redevelopment ...............................................................19
Section 8.2. Prohibition Against Redeveloper's Transfer of Property and
Assignment of Agreement ...............................................................................19
Section 8.3. Release and Indemnification Covenants ..........................................................21
Section 9.1.
Section 9.2.
Section 9.3.
Section 9.4.
Section 9.5.
Section 9.6.
Section 10.1.
Section 10.2.
Section 10.3.
Section 10.4.
Section 10.5.
Section 10.6.
Section 10.7.
Section 10.8.
Section 10.9.
Section 10.10
Section 10.11
Section 10.12
SCHEDULE A
SCHEDULE B
SCHEDULE C
SCHEDULE D
ARTICLE IX
Events of Default
Events of Default Defined ................................
Remedies on Default .........................................
No Remedy Exclusive .......................................
No Additional Waiver Implied by One Waiver
Attorney Fees ....................................................
Redevelo er's Remedies on Default
..............................................22
..............................................22
..............................................22
..............................................23
..............................................23
p................................................................23
ARTICLE X
Additional Provisions
Conflict of Interests; Authority Representatives Not Individually Liable.......24
Equal Employment Opportunity ......................................................................24
Restrictions on Use ..........................................................................................24
Provisions Not Merged With Deed ..................................................................24
Titles of Articles and Sections .........................................................................24
Noticesand Demands ......................................................................................24
Counterparts.....................................................................................................25
Recording.........................................................................................................25
Amendm ent . . .. . . . . . . . . . . . . . . . . . . . . . . . . . .... . . . . . . . . . . . . . . . . .. . . . .. . . .. .. . . . . . . . . . . .. . . . .. . . . . . . . . . . . . . .. . ... . . . . 2 5
AuthorityApprovals ........................................................................................25
Termination.... . ............... .... .......... .............................................. . . ....... .......... ...2 5
Choice of Law and Venue ................................................................................25
521619v3 MNI MN190-156
Description of Redevelopment Property
Authorizing Resolution
Certificate of Completion
Form of Income Verification
ii
CONTRACT FOR PRIVATE REDEVELOPMENT
THIS AGREEMENT, made as of the l lth day of July, 2018, by and between CITY OF
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY, a public body corporate and
politic and a political subdivision under the laws of the State of Minnesota (the "Authority"), and
RIVERTOWN RESIDENTIAL SUITES, LLC, a Minnesota limited liability company (the
"Redeveloper").
WITNESSETH:
WHEREAS, the Housing and Redevelopment Authority in and for the City of Monticello
(the "HRA") and the City of Monticello (the "City") previously created the Central Monticello
Redevelopment Project No. 1(the "Redevelopment Project") pursuant to Minnesota Statutes,
Sections 469.001 through 469.047, as amended (the "HRA Act"), and adopted a redevelopment
plan for the Redevelopment Project; and
WHEREAS, the Authority was established pursuant to Minnesota Statutes, Sections
469.090 to 469.1081 (hereinafter referred to as the "Act"), and was authorized to transact business
and exercise its powers by a resolution of the City Council of the City, which also transferred the
control and responsibility for the Redevelopment Project from the HRA to the Authority; and
WHEREAS, the Authority and City have approved a Tax Increment Financing Plan (the
"TIF Plan") for Tax Increment Financing District No. 1-40 (the "TIF District"), a housing district
within the Redevelopment Project, pursuant to Minnesota Statutes, Sections 469.174 to 469.1794
(the "TIF AcY'); and
WHEREAS, pursuant to the Act, the Authority is authorized to undertake certain activities
to facilitate the redevelopment of real property by private enterprise; and
WHEREAS, the Redeveloper intends to acquire certain property within the TIF District (the
"Redevelopment Property") and to construct a multifamily rental housing facility (the "Minimum
Improvements") on the Redevelopment Property, and has requested tax increment financing
assistance from the Authority to offset certain extraordinary costs of constructing such Minimum
Improvements; and
WHEREAS, the Authority believes that the redevelopment of the Redevelopment Property
pursuant to this Agreement, and fulfillment generally of this Agreement, are in the vital and best
interests of the City and the health, safety, morals, and welfare of its residents, and in accord with
the public purposes and provisions of the applicable State and local laws and requirements under
which the Redevelopment Project has been undertaken and is being assisted.
NOW, THEREFORE, in consideration of the premises and the mutual obligations of the
parties hereto, each of them does hereby covenant and agree with the other as follows:
1
521619v3 MNI MN190-156
ARTICLE I
Definitions
Section 1.1. Definitions. In this Agreement, unless a different meaning clearly appears
from the context:
"AcY' means the Economic Development Authority Act, Minnesota Statutes, Sections
469.090 to 469.1081, as amended.
"Affiliate" means with respect to any entity (a) any corporation, partnership, liinited
liability company or other business entity or person controlling, controlled by or under common
control with the entity, and (b) any successor to such party by merger, acquisition, reorganization or
similar transaction involving all or substantially all of the assets of such party (or such Affiliate).
For the purpose hereof the words "controlling", "controlled by" and "under common control with"
shall mean, with respect to any corporation, partnership, limited liability company or other business
entity, the ownership of fifty percent or more of the voting interests in such entity or possession,
directly or indirectly, of the power to direct or cause the direction of management policies of such
entity, whether through ownership of voting securities or by contract or otherwise.
"Agreement" means this Agreement, as the same may be from time to time modified,
amended, or supplemented.
"Authority" means the City of Monticello Economic Development Authority, or any
successor or assign.
"Authority Representative" means the Executive Director of the Authority, or any person
designated by the Executive Director to act as the Authority Representative for the purposes of this
Agreement.
"Authorizing Resolution" means the resolution of the Authority, substantially in the fonn of
attached Schedule B to be adopted by the Authority to authorize the issuance of the Note.
"Available Tax Increment" means, on each Payment Date, 90 percent of the Tax Increment
attributable to the Redevelopment Property and paid to the Authority by Wright County in the six
months preceding the Payment Date.
`Business Day" means any day except a Saturday, Sunday, legal holiday, a day on which
the City is closed for business, or a day on which banking institutions in the City are authorized by
law or executive order to close.
"Certificate of Completion" means the certification provided to the Redeveloper, or the
purchaser of any part, parcel or unit of the Redevelopment Property, pursuant to Section 4.4 of this
Agreement.
2
521619v3 MNI MN190-156
"City" means the City of Monticello, Minnesota.
"Construction Plans" means the plans, specifications, drawings and related documents on
the construction work to be performed by the Redeveloper on the Redevelopment Property which
a) shall be as detailed as the plans, specifications, drawings and related documents which are
submitted to the appropriate building officials of the City, and (b) shall include at least the
following for each building: (1) site plan; (2) foundation plan; (3) basement plans; (4) floor plan
for each floor; (5) cross sections of each (length and width); (6) elevations (all sides); (7) landscape
plan; and (8) such other plans or supplements to the foregoing plans as the Authority may
reasonably request to allow it to ascertain the nature and quality of the proposed construction work.
"County" means the County of Wright, Minnesota.
"Event of Default" means an action by the Redeveloper listed in Article IX of this
Agreement.
"Holder" means the owner of a Mortgage.
"HRA Act" means the Housing and Redevelopment Authority Act, Minnesota Statutes,
Sections 469.001 to 469.047, as amended.
"Minimum Improvements" means the construction by the Redeveloper on the
Redevelopment Property of a multifamily rental housing facility, consisting of approximately 47
rental units, and associated structured underground and surface parking.
"Mortgage" means any mortgage made by the Redeveloper which is secured, in whole or in
part, with the Redevelopment Property and which is a permitted encumbrance pursuant to the
provisions of Article VII of this Agreement.
"Note" means the Tax Increment Revenue Note, substantially in the form contained in the
Authorizing Resolution, to be delivered by the Authority to the Redeveloper in accordance with
Section 3.3 hereof.
"Payment Date" means August 1 of the year following substantial completion of the
Minimum Improvements and each February 1 and August 1 thereafter pursuant to the terms of the
Note.
"Public Redevelopment Costs" has the meaning provided in Section 3.3(a) hereof.
"Redeveloper" means Rivertown Residential Suites, LLC or its permitted successors and
assigns.
"Redevelopment Plan" means the Authority's Redevelopment Plan for the Redevelopment
Project, as amended.
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No. 1.
"Redevelopment Project" means the Authority's Central Monticello Redevelopment Project
"Redevelopment Property" has the meaning provided in Section 3.1 hereof.
"State" means the State of Minnesota.
"Tax Increment" means that portion of the real property taxes which is paid with respect to
the Redevelopment Property and which is remitted to the Authority as tax increment pursuant to the
Tax Increment Act. The term Tax Increment does not include any amounts retained by or payable
to the State auditor under Section 469.177, subd. 11 of the Tax Increment Act.
"Tax Increment Act" or "TIF Act" means the Tax Increment Financing Act, Minnesota
Statutes, Sections 469.174 to 469.1794, as amended.
"Tax Increment District" or "TIF District" means the Authority's Increment Financing
District No. 1-40 (Briggs Multifamily Housing).
"Tax Increment Plan" or "TIF Plan" means the Authority's Tax Increment Financing Plan
for Tax Increment Financing District No. 1-40 (Briggs Multifamily Housing), as approved by the
City on June 26, 2018, and as it may be amended.
"Tax Official" means any County assessor; County auditor; County or State board of
equalization, the commissioner of revenue of the State, or any State or federal district court, the tax
court of the State, or the State Supreme Court.
"Termination Date" means the earlier of the following: (a) the date when the Note has been
fully paid, defeased or terminated in accordance with its terms; or (b) the date of termination of the
Note and this Agreement by the Authority due to an Event of Default as set forth in Section 9.2
hereof.
"Transfer" has the meaning set forth in Section 8.2(a) hereof.
"Unavoidable Delays" means delays beyond the reasonable control of the party seeking to
be excused as a result thereof which are the direct result of war, terrorism, strikes, other labor
troubles, fire or other casualty to the Minimum Improvements, litigation commenced by third
parties which, by injunction or other similar judicial action, directly results in delays, or acts of any
federal, state or local governmental unit (other than the Authority in exercising its rights under this
Agreement) which directly result in delays. Unavoidable Delays shall not include delays directly
caused by actions or inaction of the Redeveloper in obtaining permits ar governmental approvals
necessary to enable construction of the Minimum Improvements by the dates such construction is
required under Section 4.3 of this Agreement.
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ARTICLE II
Renresentations and Warranties
Section 2.1. Representations by the Authoritv. The Authority makes the following
representations as the basis for the undertaking on its part herein contained:
(a) The Authority is an economic development authority duly organized and existing
under the laws of the State. Under the provisions of the Act, the Authority has the power to enter
into this Agreement and carry out its obligations hereunder.
(b) The activities of the Authority are undertaken to foster the redevelopment of certain
real property which for a variety of reasons is presently underutilized, to create increased tax base
in the City, to increase affordable housing opportunities in the City, and to stimulate further
development of the TIF District and Redevelopment Project as a whole.
Section 2.2. Representations and Warranties bv the Redeveloper. The Redeveloper
represents and warrants that:
(a) The Redeveloper is a limited liability company duly organized and in good standing
under the laws of the State of Minnesota, is not in violation of any provisions of its organizational
documents or the laws of the State, is duly authorized to transact business within the State, has
power to enter into this Agreement and has duly authorized the execution, delivery and
performance of this Agreement by proper action of its governing members.
(b) After acquisition of the Redevelopment Property and on or prior to the dates
specified in Section 4.3 hereof, the Redeveloper will commence and complete construction of, and
operate and maintain the Minimum Improvements in accordance with the terms of this Agreement,
the Redevelopment Plan and all applicable local, state and federal laws and regulations (including,
but not limited to, environmental, zoning, building code and public health laws and regulations).
(c) The Redeveloper has received no notice or communication from any local, state or
federal official that the activities of the Redeveloper or the Authority in the Redevelopment Project
may be or will be in violation of any environmental law or regulation (other than those notices or
communications of which the Authority is aware). The Redeveloper is aware of no facts the
existence of which would cause it to be in violation of or give any person a valid claim under any
local, state or federal environmental law, regulation or review procedure.
(d) The Redeveloper will obtain, in a timely manner, all required permits, licenses and
approvals, and will meet, in a timely manner, all requirements of all applicable local, state and
federal laws and regulations which must be obtained or met before the Minimum Improvements
may be lawfully constructed.
(e) Neither the execution and delivery of this Agreement, the consummation of the
transactions contemplated hereby, nor the fulfillment of or compliance with the terms and
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521619v3 MNI MN190-156
conditions of this Agreement is prevented, limited by or conflicts with or results in a breach of, the
terms, conditions or provisions of any corparate restriction or any evidences of indebtedness,
agreement or instrument of whatever nature to which the Redeveloper is now a party or by which it
is bound, or constitutes a default under any of the foregoing.
( fl Whenever any Event of Default occurs and if the Authority shall employ attorneys
or incur other expenses for the collection of payments due or to become due or for the enforcement
of performance or observance of any obligation or agreement on the part of the Redeveloper under
this Agreement, and the Authority prevails in such action, the Redeveloper agrees that it shall,
within ten days of written demand by the Authority, pay to the Authority the reasonable fees of
such attorneys and such other expenses so incurred by the Authority.
(g) The proposed development by the Redeveloper hereunder would not occur but for
the tax increment financing assistance being provided by the Authority hereunder.
(h) The Redeveloper is not currently in default under any business subsidy agreement
with any grantor, as such terms are defined in the Business Subsidy Act.
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521619v3 MNI MN190-156
ARTICLE III
Propertv Acquisition, Conveyance; Public Redevelopment Costs
Section 3.1. Status of the Redevelopment Property. (a) As of the date of this Ageement,
the Redeveloper has entered into a purchase agreement with a third party for the purchase of the
Redevelopment Property. If all contingencies in the purchase agreement are satisfied, the
Redeveloper will acquire the Redevelopment Property on or before July 12, 2018. The Authority
has no obligation to acquire any portion of the Redevelopment Property.
Section 3.2. Environmental Conditions. (a) The Redeveloper acknowledges that the
Authority makes no representations or warranties as to the condition of the soils on the
Redevelopment Property or the fitness of the Redevelopment Property for construction of the
Minimum Improvements or any other purpose for which the Redeveloper may make use of such
property, and that the assistance provided to the Redeveloper under this Agreement neither implies
any responsibility by the Authority or the City for any contamination of the Redevelopment
Property or poor soil conditions nor imposes any obligation on such parties to participate in any
cleanup of the Redevelopment Property or correction of any soil problems (other than the financing
described in this agreement).
(b) Without limiting its obligations under Section 8.3 of this Agreement the
Redeveloper further agrees that it will indemnify, defend, and hold harmless the Authority, the
City, and their governing body members, officers, and employees, from any claims or actions
arising out of the presence, if any, of hazardous wastes or pollutants existing on or in the
Redevelopment Property, unless and to the extent that such hazardous wastes or pollutants are
present as a result of the actions or omissions of the indemnitees. Nothing in this section will be
construed to limit or affect any limitations on liability of the City or Authority under State or
federal law, including without limitation Minnesota Statutes Sections 466.04 and 604.02.
Section 3.3. Public Redevelopment Costs; Issuance of Note.
(a) Generally. If the Redeveloper acquires the Redevelopment Property, in order to
make construction of the Minimum Improvements financially feasible, the Authority will reimburse
the Redeveloper for a portion of the Public Redevelopment Costs incurred by the Redeveloper in
accordance with this section. The term "Public Redevelopment Costs" means costs of acquisition
of the Redevelopment Property, and costs of site preparation, public improvements including
without limitation street parking and sidewalk improvements, costs of construction of the
affordable housing units of the Minimum Improvements, and structured parking on the
Redevelopment Property (to the extent such structured parking costs exceed the amounts paid by
the Authority under Section 3.4 hereo�.
(b) Terms. To reimburse the Public Redevelopment Costs incurred by Redeveloper, the
Authority shall issue and the Redeveloper shall purchase the Note in the maximum principal
amount of $785,000. The Authority shall issue and deliver the Note upon compliance by the
Redeveloper with the following conditions:
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521619v3 MNI MN190-156
(i) delivered to the Authority one or more certificates signed by the
Redeveloper's duly authorized representative, containing the following: (i) a statement that
each cost identified in the certificate is a Public Redevelopment Cost as defined in this
Agreement and that no part of such cost has been included in any previous certification; (ii)
evidence that each identified Public Redevelopment Cost has been paid or incurred by or on
behalf of the Redeveloper; and (iii) a statement that no uncured Event of Default by the
Redeveloper has occurred and is continuing under the Agreement. The Authority may, if
not satisfied that the conditions described herein have been met, return any certificate with a
statement of the reasons why it is not acceptable and requesting such further documentation
or clarification as the Authority may reasonably require;
(ii) submitted and obtained Authority approval of financing in accordance with
Section 7.1; and
(iii) delivered to the Authority an investment letter in a form reasonably satisfactory
to the Authority.
The terms of the Note will be substantially those set forth in the form of the Note shown in
Schedule B, and the Note will be subject to all terms of the Authorizing Resolution, which is
incorporated herein by reference.
(c) Termination of right to Note. All conditions for delivery of the Note must be met by
no later than the date which is less than five (5) years after the date of certification of the TIF
District by the County and complies with the so-called five-year rule under Section 469.1763, subd.
3(c) of the TIF Act. If the conditions for delivery of the Note are not satisfied by the date described
in this paragraph, the Authority has no further obligations under this Section 3.3.
(d) Assignment of Note. The Authority acknowledges that the Redeveloper may assign
the Note to a third party. The Authority consents to such an assignment, conditioned upon receipt
of an investment letter from such third party in a form reasonably acceptable to the Authority, and
will reasonably execute any document evidencing such assignment within 30 days after receipt and
review by Authority's legal counsel.
(e) Qualifzcations. The Redeveloper understands and acknowledges that all Public
Redevelopment Costs must be paid by the Redeveloper and will be reimbursed from Available Tax
Increment pursuant to the terms of the Note. The Authority makes no representations or warranties
regarding the amount of Tax Increment, or that revenues pledged to the Note will be sufficient to
pay the principal and interest on the Note. Any estimates of Tax Increment prepared by the
Authority or its financial advisors in connection with the TIF District or this Agreement are for the
benefit of the Authority, and are not intended as representations on which the Redeveloper may
rely. Public Redevelopment Costs exceeding the principal amount of the Note are the sole
responsibility of Redeveloper.
Section 3.4. Other Assistance. In addition to the reimbursement of a portion of
Redeveloper's Public Redevelopment Costs through issuance of the Note, the Authority will pay a
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521619v3 MNI MN190-156
portion of the costs of excavation and materials necessary to construct the structured parking
required in connection with construction of the Minimum Improvements (the "Authority GranY'),
pursuant to and in conformity with the Authority's Policy Statements for Management of Available
Tax Increment Financing Funds, adopted by the Authority on January 10, 2018. The Authority
Grant shall be in the amount of $400,000. The Authority shall disburse the Authority Grant to the
Redeveloper within twenty (20) days after receipt by the Authority of evidence submitted by the
Redeveloper of structured parking expenditures paid or incurred by the Redeveloper, in at least the
amount of the Authority Grant.
Section 3.5. Pavment of Administrative Costs. The Authority acknowledges that
Redeveloper has deposited with the Authority $10,000. The Authority will use such deposit to pay
"Administrative Costs," which term means out of pocket costs incurred by the Authority together
with staff costs of the Authority, all attributable to or incurred in connection with the negotiation
and preparation of this Agreement, the TIF Plan, and other documents and agreements in
connection with the development of the Redevelopment Property. At Redeveloper's request, but
no more often than monthly, the Authority will provide Redeveloper with a written report including
invoices, time sheets or other comparable evidence of expenditures for Administrative Costs and
the outstanding balance of funds deposited. If at any time the Authority determines that the deposit
is insufficient to pay Administrative Costs, the Redeveloper is obligated to pay such shortfall
within twenty (20) days after receipt of a written notice from the Authority containing evidence of
the unpaid costs. If any balance of funds deposited remains upon issuance of the Certificate of
Completion pursuant to Section 4.4 of this Agreement, the Authority shall promptly return such
balance to Redeveloper; provided that Redeveloper remains obligated to pay subsequent
Administrative Costs related to any amendments to this Agreement requested by Redeveloper.
Upon termination of this Agreement in accordance with its terms, the Redeveloper remains
obligated under this section for Administrative Costs incurred through the effective date of
termination.
Section 3.6. No Business Subsidv. The parties agree and understand that the primary purpose
of any financial assistance to the Redeveloper under this Ageement is to facilitate development of
housing and is therefore not a"business subsidy" within the meaning of Minnesota Statutes, Sections
116J.993 to 116J.995. The Redeveloper releases and waives any claim against the Authority and its
governing body members, officers, agents, servants and employees thereof arising from application of
the Business Subsidy Act to this Agreement, including without limitation any claim that the Authority
failed to comply with the Business Subsidy Act with respect to this Agreement.
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ARTICLE IV
Construction of Minimum Improvements and Public Improvements
Section 4.1. Construction of Minimum Improvements. The Redeveloper agrees that, after
acquisition of the Redevelopment Property, and on or prior to the dates provided in Section 4.3
hereof, it will commence and complete construction of the Minimum Improvements on the
Redevelopment Property, in accordance with approved Construction Plans and at all times while
Redeveloper owns the Redevelopment Property, will operate and maintain, preserve and keep the
respective components of the Minimum Improvements or cause such components be maintained,
preserved and kept with the appurtenances and every part and parcel thereof, in good repair and
condition.
Section 4.2. Construction Plans. (a) Before commencing construction of the Minimum
Improvements, the Redeveloper shall submit to the Authority Construction Plans. The Construction
Plans shall provide for the construction of the Minimum Improvements and shall be in conformity
with the TIF Plan, Redevelopment Plan, this Agreement, and all applicable State and local laws and
regulations. The Authority Representative wi11 approve the Construction P1ans in writing i£ (i) the
Construction Plans conform to the terms and conditions of this Agreement; (ii) the Construction
Plans conform to the goals and objectives of the Redevelopment Plan; (iii) the Construction Plans
conform to all applicable federal, state and local laws, ordinances, rules and regulations; (iv) the
Construction Plans are adequate to provide for construction of the Minimum Improvements; (v) the
funds available to the Redeveloper from all sources for construction of the Minimum
Improvements are adequate to construct the project described in the Construction Plans; and (vi) no
Event of Default has occurred. No approval by the Authority Representative shall relieve the
Redeveloper of the obligation to comply with the terms of this Agreement or of the Development
Plan, applicable federal, state and local laws, ordinances, rules and regulations, or to construct the
Minimum Improvements in accordance therewith. No approval by the Authority Representative
shall constitute a waiver of an Event of Default. If approval of the Construction Plans is requested
by the Redeveloper in writing at the time of submission, such Construction Plans shall be deemed
approved unless rejected in writing by the Authority Representative, in whole or in part. Such
rejections shall set forth in detail the reasons therefor, and shall be made within 20 days after the
date of their receipt by the Authority. If the Authority Representative rejects any Construction
Plans in whole or in part, the Redeveloper shall submit new or corrected Construction Plans within
20 days after written notification to the Redeveloper of the rejection. The provisions of this Section
relating to approval, rejection and resubmission of corrected Construction Plans shall continue to
apply until the Construction Plans have been approved by the Authority. The Authority
Representative's approval shall not be unreasonably withheld, delayed or conditioned. Said
approval shall constitute a conclusive determination that the Construction Plans (and the Minimum
Improvements constructed in accordance with said plans) comply to the Authority's satisfaction
with the provisions of this Agreement relating thereto.
The Redeveloper hereby waives any and all claims and causes of action whatsoever
resulting from the review of the Construction Plans by the Authority and/or any changes in the
Construction Plans requested by the Authority that comply with applicable codes and laws. Neither
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the Authority, the City, nor any employee or official of the Authority or City shall be responsible in
any manner whatsoever for any defect in the Construction Plans or in any work done pursuant to
the Construction Plans, including changes requested by the Authority, if such changes comply with
applicable codes and laws.
(b) If the Redeveloper desires to make any material change in the Construction Plans or
any component thereof after their approval by the Authority, the Redeveloper shall submit the
proposed change to the Authority for its approval. For the purpose of this section, the term
"material" means changes that increase or decrease construction costs by $500,000 or more. If the
Construction Plans, as modified by the proposed change, conform to the requirements of this
Section 4.2 of this Ageement with respect to such previously approved Construction Plans, the
Authority shall approve the proposed change and notify the Redeveloper in writing of its approval.
Such change in the Construction Plans shall, in any event, be deemed approved by the Authority
unless rejected, in whole or in part, by written notice by the Authority to the Redeveloper, setting
forth in detail the reasons therefor. Such rejection shall be made within ten (10) days after receipt
of the notice of such change. The Authority's approval of any such change in the Construction
Plans will not be unreasonably withheld.
Section 4.3. Completion of Construction. Subject to Unavoidable Delays, the Redeveloper
must commence construction of the Minimum Improvements by June l, 2019, and substantially
complete construction of the Minimum Improvements by June 1, 2020. All work with respect to
the Minimum Improvements to be constructed or provided by the Redeveloper on the
Redevelopment Property shall be in substantial confonnity with the Construction Plans as
submitted by the Redeveloper and approved by the Authority.
The Redeveloper agrees for itself, its successors and assigns, and every successor in interest
to the Redevelopment Property, or any part thereof, that the Redeveloper, and such successors and
assigns, shall promptly begin and diligently prosecute to completion the redevelopment of the
Redevelopment Property through the construction of the Minimum Improvements thereon, and that
such construction shall in any event be commenced and completed within the period specified in
this Section 4.3 of this Agreement. Subsequent to execution of this Agreement and until
construction of the Minimum Improvements has been completed, the Redeveloper shall make
reports, in such detail and at such times as may reasonably be requested by the Authority, as to the
actual progress of the Redeveloper with respect to such construction.
Section 4.4. Certificate of Completion. (a) Promptly after substantial completion of the
Minimum Improvements in accordance with those provisions of the Agreement relating solely to
the obligations of the Redeveloper to construct the Minimum Improvements (including the date for
completion thereof j, the Authority will furnish the Redeveloper with a Certificate of Completion in
substantially the form attached as Schedule C. Such certification by the Authority shall be a
conclusive determination of satisfaction and termination of the agreements and covenants in the
Agreement with respect to the obligations of the Redeveloper, and its successors and assigns, to
construct the Minimum Improvements and the date for the completion thereof. Such certification
and such determination shall not constitute evidence of compliance with or satisfaction of any
obligation of the Redeveloper to any Holder of a Mortgage, or any insurer of a Mortgage, securing
money loaned to finance the Minimum Improvements, or any part thereof.
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521619v3 MNI MN190-156
(b) The Certificate of Completion provided for in this Section 4.4 of this Agreement
shall be in such form as will enable it to be recorded in the proper office for the recordation of
deeds and other instruments pertaining to the Redevelopment Property. If the Authority shall
refuse or fail to provide any certification in accordance with the provisions of this Section 4.4 of
this Agreement, the Authority shall, within thirty (30) days after written request by the
Redeveloper, provide the Redeveloper with a written statement, indicating in adequate detail in
what respects the Redeveloper has failed to complete the Minimum Improvements in accordance
with the provisions of the Agreement, or is otherwise in default, and what measures or acts it will
be necessary, in the opinion of the Authority, for the Redeveloper to take or perform in order to
obtain such certification.
(c) The construction of the Minimum Improvements shall be deemed to be commenced
when foundations are completed (as reasonably determined by the Authority Representative); and
shall be deemed to be substantially complete upon issuance of a certificate of occupancy far the
Minimum Improvements, and upon determination by the Authority Representative that all related
site iinprovements on the Redevelopment Property have been substantially completed in
accordance with approved Construction Plans, subject to landscaping and/or public art that cannot
be completed until seasonal conditions permit.
Section 4.5. Records and Reports. (a) The Authority, through any authorized
representatives, shall have the right at all reasonable times after reasonable written notice to
inspect, examine and copy all books and records of Redeveloper relating to the Minimum
Improvements. Such records shall be kept and maintained by Redeveloper through the Termination
Date.
(b) The Redeveloper also agrees to submit to the Authority written reports so as to allow
the Authority to remain in compliance with reporting requirements under state statutes. The
Authority will provide information to the Redeveloper regarding the required forms.
Section 4.6. Income Limits.
(a) The Authority and the Redeveloper understand and agree that the TIF District will
constitute a"housing district" under Section 469.174, subdivision 11 of the TIF Act. The
Redeveloper covenants that, for the duration of the TIF District, it will comply with all income
requirements for a qualified residential rental project as defined in Section 142(d) of the Internal
Revenue Code of 1986, as amended. Specifically, the Redeveloper agrees to reserve at least 20%
of the units of the Minimum Improvements for families with incomes at or below 50% of area
median income in the County, adjusted for family size.
(b) On or before February 2 of each year for the duration of the TIF District, the
Redeveloper shall submit evidence in substantially the form in Schedule D, showing that the
Minimum Improvements meet the relevant income requirements. The parties agree and understand
that the Redeveloper may retain a manager (the "Manager") who will review such evidence and
will certify to the Authority that the TIF District remains a housing district under the TIF Act.
Redeveloper is responsible for any costs incurred to compensate the Manager (or any successor) for
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521619v3 MNI MN190-156
such activities.
(c) If the Authority receives notice from the Manager, if any, the State department of
revenue, the State auditor, any Tax Official or any court of competent jurisdiction that the TIF
District does not qualify as a"housing district," such event shall be deemed an Event of Default
under this Agreement. In addition to any remedies available to the Authority under Article IX
hereof, the Redeveloper shall indemnify, defend and hold harmless the Authority for any damages
or costs resulting therefrom.
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521619v3 MNI MN190-156
ARTICLE V
Insurance
Section 5.1. Insurance. (a) The Redeveloper will provide and maintain at all times during
the process of constructing the Minimum Improvements an All Risk Broad Form Basis Insurance
Policy and, from time to time during that period, at the request of the Authority, furnish the
Authority with proof of payment of premiums on policies covering the following:
(i) Builder's risk insurance, written on the so-called `Builder's Risk --
Coinpleted Value Basis," in an amount equal to 100% of the principal amount of the Note,
and with coverage available in nonreporting form on the so-called "all risk" form of policy.
The interest of the Authority shall be protected in accordance with a clause in form and
content satisfactory to the Authority;
(ii) Comprehensive general liability insurance (including operations, contingent
liability, operations of subcontractors, completed operations, and contractual liability
insurance) together with an Owner's Protective Liability Policy with limits against bodily
injury and property damage of not less than $1,000,000 for each occurrence (to accomplish
the above-required limits, an umbrella excess liability policy may be used). The Authority
shall be listed as an additional insured on the policy; and
(iii) Workers' compensation insurance, with statutory coverage, provided that the
Redeveloper may be self-insured with respect to all or any part of its liability for workers'
compensation.
(b) Upon completion of construction of the Minimum Improvements and prior to the
Termination Date, the Redeveloper shall maintain, or cause to be maintained, at its cost and
expense, and from time to time at the request of the Authority shall furnish proof of the payment of
premiums on, insurance as follows:
(i) Insurance against loss and/ar damage to the Minimum Improvements under a
policy or policies covering such risks as are ordinarily insured against by similar businesses.
(ii) Comprehensive general public liability insurance, including personal injury
liability (with employee exclusion deleted), against liability for injuries to persons and/or
property, in the minimum amount for each occurrence and for each year of $1,000,000, and
shall be endorsed to show the City and Authority as additional insureds.
(iii) Such other insurance, including workers' compensation insurance respecting
all employees of the Redeveloper, in such amount as is customarily carried by like
organizations engaged in like activities of comparable size and liability exposure; provided
that the Redeveloper may be self-insured with respect to all or any part of its liability for
workers' compensation.
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521619v3 MNI MN190-156
(c) All insurance required in Article V of this Agreement shall be taken out and
maintained in responsible insurance companies selected by the Redeveloper that are authorized
under the laws of the State to assume the risks covered thereby. Upon request, the Redeveloper
will deposit annually with the Authority policies evidencing all such insurance, or a certificate or
certificates or binders of the respective insurers stating that such insurance is in force and effect.
Unless otherwise provided in this Article V of this Agreement each policy shall contain a provision
that the insurer shall not cancel nor modify it in such a way as to reduce the coverage provided
below the amounts required herein without giving written notice to the Redeveloper and the
Authority at least thirty (30) days before the cancellation or modification becomes effective. In lieu
of separate policies, the Redeveloper may maintain a single policy, blanket or umbrella policies, or
a combination thereof, having the coverage required herein, in which event the Redeveloper shall
deposit with the Authority a certificate or certificates of the respective insurers as to the amount of
coverage in force upon the Minimum Improvements.
(d) The Redeveloper agrees to notify the Authority immediately in the case of damage
exceeding $250,000 in amount to, or destruction of, the Minimum Improvements or any portion
thereof resulting from fire or other casualty. In such event the Redeveloper will forthwith repair,
reconstruct, and restore the Minimum Improvements to substantially the same or an improved
condition or value as it existed prior to the event causing such damage and, to the extent necessary
to accomplish such repair, reconstruction, and restoration, the Redeveloper will apply the net
proceeds of any insurance relating to such damage received by the Redeveloper to the payment or
reimbursement of the costs thereof.
The Redeveloper shall complete the repair, reconstruction and restoration of the Minimum
Improvements, regardless of whether the net proceeds of insurance received by the Redeveloper for
such purposes are sufficient to pay for the same. Any net proceeds remaining after completion of
such repairs, construction, and restoration shall be the property of the Redeveloper.
(e) In lieu of its obligation to reconstruct the Minimum Improvements as set forth in this
Section, the Redeveloper shall have the option of: (i) paying to the Authority an amount that, in the
opinion of the Authority and its fiscal consultant, is sufficient to pay or redeem the outstanding
principal and accrued interest on the Note, ar(ii) so long as the Redeveloper is the owner of the
Note, waiving its right to receive subsequent payments under the Note.
(� The Redeveloper and the Authority agree that all of the insurance provisions set
forth in this Article V shall terminate upon the termination of this Agreement.
Section 5.2. Subordination. Notwithstanding anything to the contrary herein, the rights of
the Authority with respect to the receipt and application of any insurance proceeds shall, in all
respects, be subordinate and subject to the rights of any Holder under a Mortgage allowed pursuant
to Article VII of this Agreement.
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521619v3 MNI MN190-156
ARTICLE VI
Tax Increment; Taxes
Section 6.1. Right to Collect Delinquent Taxes. The Redeveloper acknowledges that the
Authority is providing substantial aid and assistance in furtherance of the redevelopment described
in this Agreement, through reimbursement of the Public Redevelopment Costs. The Redeveloper
understands that the Tax Increment pledged to payment of the Public Redevelopment Costs is
derived from real estate taxes on the Minimum Improvements, which taxes must be promptly and
timely paid. To that end, the Redeveloper agrees for itself, its successors and assigns, that in
addition to the obligation pursuant to statute to pay real estate taxes, it is also obligated by reason of
this Agreement to pay before delinquency all real estate taxes assessed against the Redevelopment
Property and the Minimum Improvements. The Redeveloper acknowledges that this obligation
creates a contractual right on behalf of the Authority through the Termination Date to sue the
Redeveloper or its successors and assigns to collect delinquent real estate taxes and any penalty or
interest thereon and to pay over the same as a tax pa}nnent to the county auditar. In any such suit,
the Authority shall also be entitled to recover its costs, expenses and reasonable attorney fees.
Section 6.2. Review of Taxes. The Redeveloper agrees that prior to the Termination Date,
it will not cause a reduction in the real property taxes paid in respect of the Redevelopment
Property through: (A) willful destruction of the Redevelopment Property or any part thereof; or (B)
willful refusal to reconstruct damaged or destroyed property pursuant to Section 5.1 of this
Agreement. The Redeveloper also agrees that it will not, prior to the Termination Date, apply for a
deferral of property tax on the Redevelopment Property pursuant to any law, or transfer or permit
transfer of the Redevelopment Property to any entity whose ownership or operation of the property
would result in the Redevelopment Property being exempt from real estate taxes under State law
(other than any portion thereof dedicated or conveyed to the City or Authority in accordance with
this Agreement).
(The remainder of this page is intentionally left blank.)
16
521619v3 MNI MN190-156
ARTICLE VII
Financing
Section 7.1. Generallv. (a) Before commencement of construction of the Minimum
Improvements, the Redeveloper shall submit to the Authority or provide access thereto for review
by Authority staff, consultants and agents, evidence reasonably satisfactory to the Authority that
Redeveloper has available funds, or commitments to obtain funds, whether in the nature of
mortgage financing, equity, gants, loans, or other sources sufficient to construct the Minimum
Improvements, provided that any lender or grantor commitments shall be subject only to such
conditions as are normal and custoinary in the commercial lending industry.
(b) If the Authority finds that the financing is sufficiently committed and adequate in
amount to pay the costs specified in paragraph (a) then the Authority shall notify the Redeveloper
in writing of its approval. Such approval shall not be unreasonably withheld and either approval or
rejection shall be given within twenty (20) days from the date when the Authority is provided the
evidence of financing. A failure by the Authority to respond to such evidence of financing shall be
deemed to constitute an approval hereunder. If the Authority rejects the evidence of financing as
inadequate, it shall do so in writing specifying the basis for the rejection. In any event the
Redeveloper shall submit adequate evidence of financing within ten (10) days after such rejection.
Section 7.2. Authority's Option to Cure Default on Mort�a�e. In the event that there
occurs a default under any Mortgage authorized pursuant to Section 7.1 of this Agreement, to the
extent the Redeveloper is aware of such default, the Redeveloper shall cause the Authority to
receive copies of any notice of default received by the Redeveloper from the holder of such
Mortgage. Thereafter, the Authority shall have the right, but not the obligation, to cure any such
default on behalf of the Redeveloper within such cure periods as are available to the Redeveloper
under the Mortgage documents, if negotiated and permitted by the Holder. In the event there is an
event of default under this Ageement, the Authority wi11 transmit to the Holder of any Mortgage
and to the Redeveloper's Tax Credit Investor (as hereinafter defined) a copy of any notice of
default given by the Authority pursuant to Article IX of this Agreement.
Section 7.3. Modification; Subordination. In order to facilitate the securing of other
financing, the Authority agrees to subordinate its rights under this Agreement provided that such
subordination shall be subject to such reasonable terms and conditions as the Authority and Holder
mutually agree in writing. Notwithstanding anything to the contrary herein, any subordination
agreement must include the provision described in Section 7.2.
17
521619v3 MNI MN190-156
ARTICLE VIII
Prohibitions Against Assignment and Transfer; Indemnification
Section 8.1. Representation as to Redevelopment. The Redeveloper represents and agrees
that its purchase of the Redevelopment Property, and its other undertakings pursuant to the
Agreement, are, and will be used, for the purpose of redevelopment of the Redevelopment Property
and not for speculation in land holding.
Section 8.2. Prohibition Against Redevel�er's Transfer of Property and Assignment of
Agreement. The Redeveloper represents and agrees that until the issuance of the Certificate of
Completion for the Minimum Improvements:
(a) Except as specifically described in this Agreement, the Redeveloper has not made or
created and will not make or create or suffer to be made or created any total or partial sale,
assi�mment, conveyance, or lease, or any trust or power, or transfer in any other mode or form of or
with respect to this Agreement or the Redevelopment Property or any part thereof or any interest
therein, or any contract or agreement to do any of the same, to any person or entity (collectively, a
"Transfer"), without the prior written approval of the Authority's board of commissioners. The
term "Transfer" does not include (i) encumbrances made or granted by way of security for, and
only for, the purpose of obtaining construction, interim or permanent financing necessary to enable
the Redeveloper or any successor in interest to the Redevelopment Property or to construct the
Minimum Improvements or component thereof; (ii) any lease, license, easement or similar
arrangement entered into in the ordinary course of business related to operation of the Minimum
Improvements; (iii) admitting or removing limited partners or transferring direct or indirect limited
partner interests or interest in the general partner of Redeveloper or admitting or removing
members of any of Redeveloper's partners in accordance with the applicable organizational
documents, or (iv) removing the general partner of Redeveloper for cause at the direction of its
limited partner(s) (whether one or more, the "Tax Credit Investor") in accordance with
Redeveloper's partnership agreement.
(b) If the Redeveloper seeks to effect a Transfer requiring the approval of the Authority
prior to issuance of the Certificate of Completion, the Authority shall be entitled to require as
conditions to such Transfer that:
(1) any proposed transferee shall have the qualifications and financial
responsibility, in the reasonable judgment of the Authority, necessary and adequate to fulfill
the obligations undertaken in this Agreement by the Redeveloper as to the portion of the
Redevelopment Property to be transferred; and
(2) Any proposed transferee, by instrument in writing satisfactory to the
Authority and in form recordable in the public land records of Wright County, Minnesota,
shall, for itself and its successors and assigns, and expressly for the benefit of the Authority,
18
521619v3 MNI MN]90-156
have expressly assumed all of the obligations of the Redeveloper under this Agreement as to
the portion of the Redevelopment Property to be transferred and agreed to be subject to all
the conditions and restrictions to which the Redeveloper is subject as to such portion;
provided, however, that the fact that any transferee of, or any other successor in interest
whatsoever to, the Redevelopment Property, or any part thereof, shall not, for whatever
reason, have assumed such obligations or so agreed, and shall not (unless and only to the
extent otherwise specifically provided in this Agreement or agreed to in writing by the
Authority) deprive the Authority of any rights or remedies or controls with respect to the
Redevelopment Property, the Minimum Improvements or any part thereof or the
construction of the Minimum Improvements; it being the intent of the parties as expressed
in this Agreement that (to the fullest extent permitted at law and in equity and excepting
only in the manner and to the extent specifically provided otherwise in this Agreement) no
transfer of, or change with respect to, ownership in the Redevelopment Property or any part
thereof, or any interest therein, however consummated or occurring, and whether voluntary
or involuntary, shall operate, legally, or practically, to deprive or limit the Authority of or
with respect to any rights or remedies on controls provided in or resulting from this
Agreement with respect to the Redevelopment Property that the Authority would have had,
had there been no such transfer or change. In the absence of specific written agreement by
the Authority to the contrary, no such transfer or approval by the Authority thereof shall be
deemed to relieve the Redeveloper, or any other party bound in any way by this Agreement
or otherwise with respect to the Redevelopment Property, from any of its obligations with
respect thereto.
(3) Any and a11 instruments and other legal documents involved in effecting the
transfer of any interest in this Agreement or the Redevelopinent Property governed by this
Article V1II, shall be in a form reasonably satisfactory to the Authority.
(c) If the conditions described in paragaph (b) are satisfied then the Transfer will be
approved and the Redeveloper shall be released from its obligation under this Agreement, as to the
portion of the Redevelopment Property that is transferred, assigned, or otherwise conveyed. The
provisions of this paragraph (c) apply to all subsequent transferors, assuming compliance with the
terms of this Article.
(d) Upon issuance of the Certificate of Completion, the Redeveloper may transfer or
assign the Minimum Improvements and/or the Redeveloper's rights and obligations under this
Agreement with respect to such property without the prior written consent of the Authority;
provided that:
(i) until the Termination Date the transferee or assignee is bound by all the
Redeveloper's obligations hereunder with respect to the property and rights transferred. The
Redeveloper shall submit to the Authority written evidence of any such transfer or
assignment, including the transferee or assignee's express assumption of the Redeveloper's
obligations under this Agreement. If the Redeveloper fails to provide such evidence of
transfer and assumption, the Redeveloper shall remain bound by all obligations with respect
to the subject property under this Agreement; and
19
521619v3 MNI MN190-156
(ii) upon compliance with clause (d)(i) above (whether the transfer occurred
before or after issuance of the Certificate of Completion), the Redeveloper shall be released
from its obligations under this Ageement with respect to the property transferred.
The provisions of this paragraph (d) apply to all subsequent transferors, assuming compliance with
the terms of this Article.
Section 8.3. Release and Indemnification Covenants. (a) The Redeveloper releases from
and covenants and agrees that the Authority and the governing body members, officers, agents,
servants and employees thereof (the "Indemnified Parties") shall not be liable for and agrees to
indemnify and hold harmless the Indemnified Parties against any loss or damage to property or any
injury to or death of any person occurring at or about or resulting from any defect in the Minimum
Improvements.
(b) Except for any willful or negligent misrepresentation or any willful or wanton
misconduct or negligence of the Indemnified Parties, the Redeveloper agrees to protect and defend
the Indemnified Parties, now or forever, and further agrees to hold the Indemnified Parties harmless
from any claim, demand, suit, action or other proceeding whatsoever by any person or entity
whatsoever arising or purportedly arising from this Agreement, or the transactions contemplated
hereby or the acquisition, construction, installation, ownership, and operation of the Minimum
Improvements.
(c) Except for any negligence of the Indemnified Parties (as defined in clause (b)
above), and except for any breach by any of the Indemnified Parties of their obligations under this
Agreement, the Indemnified Parties shall not be liable for any damage or injury to the persons or
property of the Redeveloper or its officers, agents, servants or employees or any other person who
may be about the Minimum Improvements due to any act of negligence of any person.
(d) All covenants, stipulations, promises, agreements and obligations of the Authority
contained herein shall be deemed to be the covenants, stipulations, promises, agreements and
obligations of the Authority and not of any governing body member, officer, agent, servant or
employee of the Authority in the individual capacity thereof.
20
521619v3 MNI MN 190-156
ARTICLE IX
Events of Default
Section 9.1. Events of Default Defined. The following shall be "Events of Default" under
this Agreement and the term "Event of Default" shall mean, whenever it is used in this Agreement,
any one or more of the following events, after the non-defaulting party provides 30 days written
notice to the defaulting party of the event, but only if the event has not been cured within said 30
days or, if the event is by its nature incurable within 30 days, the defaulting party does not, within
such 30-day period, provide assurances reasonably satisfactory to the party providing notice of
default that the event will be cured and will be cured as soon as reasonably possible:
(a) Failure by the Redeveloper or the Authority to observe or perform any material
covenant, condition, obligation, or agreement on its part to be observed or performed under this
Agreement; or
(b) The Redeveloper:
(i) files any petition in bankruptcy or for any reorganization, arrangement,
composition, readjustment, liquidation, dissolution, or similar relief under the United States
Bankruptcy Act or under any similar federal or State law;
or
(ii) makes an assignment for benefit of its creditors;
(iii) admits in writing its inability to pay its debts generally as they become due;
(iv) is adjudicated a bankrupt or insolvent.
Section 9.2. Remedies on Default. Whenever any Event of Default referred to in
Section 9.1 of this Agreement occurs, the non-defaulting party may:
(a) Suspend its performance under this Agreement until it receives assurances that the
defaulting party will cure its Event of Default and continue its performance under the Agreement.
(b) Upon an Event of Default by the Redeveloper under this Agreement, the Authority
may terminate the Note and this Agreement.
(c) Take whatever action, including le�al, equitable, or administrative action, which
may appear necessary or desirable to collect any payments due under this Agreement, or to enforce
performance and observance of any obligation, agreement, or covenant under this Agreement,
provided that nothing contained herein shall give the Authority the right to seek specific
performance by Redeveloper of the construction of the Minimum Improvements.
Section 9.3. No Remedy Exclusive. No remedy herein conferred upon or reserved to the
Authority or Redeveloper is intended to be exclusive of any other available remedy or remedies,
21
521619v3 MNI MN190-156
but each and every such remedy shall be cumulative and shall be in addition to every other remedy
given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay
or omission to exercise any right or power accruing upon any default shall impair any such right or
power or shall be construed to be a waiver thereof, but any such right and power may be exercised
from time to time and as often as may be deemed expedient. In order to entitle the Authority to
exercise any remedy reserved to it, it shall not be necessary to give notice, other than such notice as
may be required in this Article IX.
Section 9.4. No Additional Waiver Implied by One Waiver. In the event any agreement
contained in this Agreement should be breached by either party and thereafter waived by the other
party, such waiver shall be limited to the particular breach so waived and shall not be deemed to
waive any other concurrent, previous or subsequent breach hereunder.
Section 9.5. Attornev Fees. Whenever any Event of Default occurs (as determined by a
final court or administrative order or Redeveloper admissions) and if the Authority shall employ
attorneys or incur other expenses for the collection of payments due or to become due or for the
enforcement of performance or observance of any obligation or agreement on the part of the
Redeveloper under this Agreement, the Redeveloper agrees that it shall, within 10 days of written
demand by the Authority, pay to the Authority the reasonable fees of such attorneys and such other
expenses so incurred by the Authority.
Section 9.6 Redeveloper's Remedies on Default. If the Authority fails to make a
payment when due in accordance with the terms of Sections 3.3 and 6.3(c) of this Agreement,
Redeveloper may, after providing 30 days' written notice to the Authority of the Event of Default,
as applicable, suspend or terminate its performance under this Ageement, permit Redeveloper to
suspend or terminate its performance under this Agreement and/or take whatever action at law or in
equity may appear necessary or desirable to Redeveloper to enforce performance of an outstanding
payment obligation of the Authority under this Agreement. If Redeveloper terminates its
obligations hereunder, this Agreement shall be deemed terminated and Redeveloper shall have no
further obligations hereunder.
22
521619v3 MNI MN190-156
ARTICLE X
Additional Provisions
Section 10.1. Conflict of Interests; Authoritv Representatives Not Individually Liable. The
Authority and the Redeveloper, to the best of their respective knowledge, represent and agree that
no member, official, or employee of the Authority shall have any personal interest, direct or
indirect, in the Agreement, nor shall any such member, official, or employee participate in any
decision relating to the Agreement which affects his personal interests or the interests of any
corporation, partnership, or association in which he is, directly or indirectly, interested. No
member, official, or employee of the Authority shall be personally liable to the Redeveloper, or any
successor in interest, in the event of any default or breach by the Authority or County or for any
amount which may becoine due to the Redeveloper or successor or on any obligations under the
terms of the Agreement.
Section 10.2. Equal Employment Opportunitv. The Redeveloper, for itself and its
successors and assigns, agrees that during the construction of the Minimum Improvements
provided for in the Agreement it will comply with all applicable federal, state and ]ocal equal
employment and non-discrimination laws and regulations.
Section 10.3. Restrictions on Use. The Redeveloper agrees that until the Termination Date,
the Redeveloper, and such successors and assigns, shall devote the Redevelopment Property to the
operation of the Minimum Improvements for uses described in the definition of such term in this
Agreement, and shall not discriminate upon the basis of race, color, creed, sex or national origin in
the sale, lease, or rental or in the use or occupancy of the Redevelopment Property or any
iinprovements erected or to be erected thereon, or any part thereof.
Section 10.4. Provisions Not Merged With Deed. None of the provisions of this
Agreement are intended to or shall be merged by reason of any deed transferring any interest in the
Redevelopment Property and any such deed shall not be deemed to affect or impair the provisions
and covenants of this Agreement.
Section 10.5. Titles of Articles and Sections. Any titles of the several parts, Articles, and
Sections of the Agreement are inserted for convenience of reference only and shall be disregarded
in construing ar interpreting any of its provisions.
Section 10.6. Notices and Demands. Except as otherwise expressly provided in this
Agreement, a notice, demand, or other communication under the Agreement by either party to the
other shall be sufficiently given or delivered if it is dispatched by registered or certified mail,
postage prepaid, return receipt requested, or delivered personally; and
(a) in the case of the Redeveloper, is addressed to or delivered personally to the
Redeveloper at 633 Upland Avenue, Suite C, Elk River, Minnesota 55330; and
23
521619v3 MNI MN190-156
(b) in the case of the Authority, is addressed to or delivered personally to the Authority
at 505 Walnut Street, Suite 1, Monticello, Minnesota 55362, Attn: Executive Director; or at such
other address with respect to either such party as that party may, from time to time, designate in
writing and forward to the other as provided in this Section.
Section 10.7. Counterparts. This Ageement may be executed in any number of
counterparts, each of which shall constitute one and the same instrument.
Section 10.8. Recordin�. The Authority may record this Agreement and any amendments
thereto with the Wright County recorder. The Redeveloper shall pay all costs for recording.
Section 10.9. Amendment. This Agreement may be amended only by written agreement
approved by the Authority and the Redeveloper.
Section 10.10. Authority Ap rp ovals• Unless otherwise specified, any approval required by
the Authority under this Agreement may be given by the Authority Representative.
Section 10.11. Termination. This Agreeinent terminates on the Termination Date. Upon
termnation of the Ageement, the Authority shall promptly execute any reasonable documents
necessary to remove this Agreement from the title records of the Redevelopment Property.
Section 10.12. Choice of Law and Venue. This Agreement shall be governed by and
construed in accordance with the laws of the State of Minnesota. Any disputes, controversies, or
claims arising out of this Agreement shall be heard in the state or federal courts of Minnesota, and
all parties to this Agreement waive any objection to the jurisdiction of these courts, whether based
on convenience or otherwise.
24
521619v3 MNl MNI90-156
IN WITNESS WHEREOF, the Authority has caused this Agreement to be duly executed in
its name and behalf and its seal to be hereunto duly affixed and the Redeveloper has caused this
Agreement to be duly executed in its name and behalf on or as of the date first above written.
CITY OF MONTICELLO ECONOMIC
DEVELOPMENT AUTHORITY
B
Its reside
By /�
Its xec tive Director
STATE OF MINNESOTA )
) SS.
COUNTY OF WRIGHT )
The foregoing instrument was acknowledged before me this ;�1"'` day of. ���
2018 b '
, y�"��� �`,►� j�-Y v�n and �'� �,-� � s�j�� ;t= �, , the President and Ex u� i��rector
of the City of Monticello Economic Development Authority, a public body corporate and politic,
on behalf of the Authority.
�. � . �
�/..� !J'1 " ' 'v'
Notary Public
�>��;.� VIGKI JAN IEERHOFF
r ►rOTARY PUBLIC
j ���',� MINNESOTA
'3�- �' �Ay Commission ERP� 01f�1R041
25
521619v3 MNI MN190-156
STATE OF MINNESOTA
) SS.
COUNTY OF ��,�" � )
The f�or,�oing in� trument was ackno�
2018 by �'`;� ,� � 1 �r � �' S , �
Residential Suites, LL�; a Mi esota limited
RIVERTOWN RESIDENTIAL SUITES, LLC, a
Minnesota Limited Liability Company
By
Its G , � `t?�
�z
�ledged befare me this ��tay of ' � ,
he y�-�
�� ; � �C f/"�/�,, `- of Rivertown
liability company, on bc�ialf of the company.
;%��, � .
/ � �' '
Notary Public
"� PATRICIA K. KOYICH
,, COMM. #6101660
Notary Public
° State of Minnes�e
' My Canmissia� Exph� t/'31I2�Q
26
521619v3 MN1 MN190-]56
SCHEDULE A
Redevelopment Property
Lots 1-3, Block 36, Plat of MONTICELLO, according to the recorded plat thereof, Wright County,
Minnesota.
A-1
521619v3 MNI MN190-156
SCHEDULE B
AUTHORIZING RESOLUTION
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO.
RESOLUTION AWARDING THE SALE OF, AND
PROVIDING THE FORM, TERMS, COVENANTS AND
DIRECTIONS FOR THE ISSUANCE OF A TAX
INCREMENT REVENUE NOTE TO RIVERTOWN
RESIDENTIAL SUITES, LLC.
BE IT RESOLVED BY the Board of Commissioners (`Board") of the City of Monticello
Economic Development Authority, Monticello, Minnesota (the "Authority") as follows:
Section 1. Authorization; Award of Sale.
1.01. Authorization. The Authority and the City of Monticello have approved the
establishment of its Tax Increment Financing District No. l-40 (the "TIF District") within
Central Monticello Redevelopment Project No. 1("Redevelopment Project"), and have adopted
a tax increinent financing plan for the purpose of tinancing certain improvements within the
Redevelopment Project.
Pursuant to Minnesota Statutes, Section 469.178, the Authority is authorized to issue and
sell its bonds for the purpose of financing a portion of the public redevelopment costs of the
Redevelopment Project. Such bonds are payable from all or any portion of revenues derived
from the TIF District and pledged to the payinent of the bonds. The Authority hereby finds and
determines that it is in the best interests of the Authority that it issue and sell its Tax Increment
Revenue Note (Briggs Housing Project) (the "Note") for the purpose of financing certain public
redevelopment costs of the Redevelopment Project.
1.02. A�proval of Agreement; Issuance, Sale, and Terms of the Note. (a) The
Contract for Private Redevelopinent between the Authority and Rivertown Residential Suites,
LLC (the "Owner"), as presented to the Board, is hereby in all respects approved, subject to
modifications that do not alter the substance of the transaction and that are approved by the
President and Executive Director, provided that execution of the Agreement by such officials shall
be conclusive evidence of approval. Authority staff and officials are authorized to take all actions
necessary to perform the Authority's obligations under the Agreement as a whole, including without
limitation execution of any docuinents to which the Authority is a party referenced in or attached to
the Agreement, all as described in the Agreement.
521619v3 MNI MN 190-] 56 B_ 1
(b) The Authority hereby authorizes the President and Executive Director to issue the
Note in accordance with the Agreeinent. All capitalized terms in this resolution have the
meaning provided in the Agreement unless the context requires otherwise.
(c) The Note shall be issued in the maximum aggregate principal amount of $785,000 to
the Owner in consideration of certain eligible costs incurred by the Owner under the Agreement,
shall be dated the date of delivery thereof, and shall bear interest at the lesser of Owner's actual
mortgage financing rate or 5.50%, from the date of issue per annum to the earlier of maturity or
prepayment. The Note will be issued in the principal amount of Public Redevelopment Costs
submitted and approved in accordance with Section 3.3 of the Agreement. The Note is secured
by Available Tax Increment, as further described in the form of the Note herein. The Authority
hereby delegates to the Executive Director the determination of the date on which the Note is to
be delivered, in accordance with the Agreement.
Section 2. Fonn of Note. The Note shall be in substantially the forrn attached hereto
as Exhibit A, with the blanks to be properly filled in and the principal and interest rate amounts
adjusted as of the date of issue.
Section 3. Terms, Execution and Delivery.
3.01. Denomination, Payment. The Note shall be issued as a single typewritten note
numbered R-1.
The Note shall be issuable only in fully registered fonn. Principal of and interest on the
Note shall be payable by check or draft issued by the Registrar described herein.
3.02. Dates; Interest Payment Dates. Principal of and interest on the Note shall be
payable by mail to the owner of record thereof as of the close of business on the fifteenth day of
the month preceding the Payment Date, whether or not such day is a business day.
3.03. Registration. The Authority hereby appoints the City Finance Director to perfonn
the functions of registrar, transfer agent and paying agent (the "Registrar"). The effect of
registration and the rights and duties of the Authority and the Registrar with respect thereto shall
be as follows:
(a) Re ig ster. The Registrar shall keep at its office a bond register in which the
Registrar shall provide for the registration of ownership of the Note and the registration of
transfers and exchanges of the Note.
(b) Transfer of Note. Subject to Section 3.03(d) hereof, within 15 days after
surrender for transfer of the Note duly endorsed by the registered owner thereof or accompanied
by a written instrument of transfer, in form reasonably satisfactory to the Registrar, duly
executed by the registered owner thereof or by an attorney duly authorized by the registered
owner in writing, and consent to such transfer by the Authority if required pursuant to the
Agreement, the Registrar shall authenticate and deliver, in the name of the designated transferee
or transferees, a new Note of a like aggregate principal amount and maturity, as requested by the
521619v3 MNl MN190-156 B_2
transferor. The Registrar may close the books for registration of any transfer after the fifteenth
day of the month preceding each Pa}nnent Date and until such Payment Date.
(c) Cancellation. The Note surrendered upon any transfer shall be promptly
cancelled by the Registrar and thereafter disposed of as directed by the Authority.
(d) Improper or Unauthorized Transfer. When the Note is presented to the Registrar
for transfer, the Registrar may refuse to transfer the same until it is reasonably satisfied that the
endorsement on such Note or separate instrument of transfer is legally authorized. The Registrar
shall incur no liability for its refusal, in good faith, to make transfers which it, in its judgment,
deems improper or unauthorized.
(e) Persons Deemed Owners. The Authority and the Registrar may treat the person in
whose name the Note is at any time registered in the bond register as the absolute owner of the
Note, whether the Note shall be overdue or not, for the purpose of receiving payment of, or on
account of, the principal of and interest on such Note and for all other purposes, and all such
payments so made to any such registered owner or upon the owner's order shall be valid and
effectual to satisfy and discharge the liability of the Authority upon such Note to the extent of the
sum or sums so paid.
(� Taxes, Fees and Charges. For every transfer or exchange of the Note, the
Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for
any tax, fee, or other governmental charge required to be paid with respect to such transfer or
exchange.
(g) Mutilated, Lost, Stolen or Destroyed Note. In case any Note shall become
mutilated or be lost, stolen, or destroyed, the Registrar shall deliver a new Note of like amount,
Termination Dates and tenor in exchange and substitution for and upon cancellation of such
mutilated Note or in lieu of and in substitution for such Note lost, stolen, or destroyed, upon the
payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in
the case the Note lost, stolen, or destroyed, upon filing with the Registrar of evidence satisfactary
to it that such Note was lost, stolen, or destroyed, and of the ownership thereof, and upon
furnishing to the Registrar of an appropriate bond or indemnity in fonn, substance, and amount
satisfactory to it, in which both the Authority and the Registrar shall be named as obligees. The
Note so surrendered to the Registrar shall be cancelled by it and evidence of such cancellation
shall be given to the Authority. If the mutilated, lost, stolen, or destroyed Note has already
matured or been called for redemption in accordance with its terms, it shall not be necessary to
issue a new Note prior to payment.
3.04. Preparation and Delivery. The Note shall be prepared under the direction of the
Executive Director and shall be executed on behalf of the Authority by the signatures of its
President and Executive Director. In case any officer whose signature shall appear on the Note
shall cease to be such officer before the delivery of the Note, such signature shall nevertheless be
valid and sufficient for all purposes, the same as if such officer had remained in office until
delivery. When the Note has been so executed, it shall be delivered by the Executive Director to
the Owner thereof in accordance with the Agreeinent.
521619v3 MNI MN190-156 B_3
Section 4. Securitv Provisions.
4.01. Pledge. The Authority hereby pledges to the payment of the principal of and
interest on the Note all Available Tax Increment as defined in the Note.
Available Tax Increment shall be applied to payment of the principal of and interest on the Note
in accordance with the terms of the form of Note set forth in Section 2 of this resolution.
4.02. Bond Fund. Until the date the Note is no longer outstanding and no principal
thereof or interest thereon (to the extent required to be paid pursuant to this resolution) remains
unpaid, the Authority shall maintain a separate and special `Bond Fund" to be used for no
purpose other than the payment of the principal of and interest on the Note. The Authority
irrevocably agrees to appropriate to the Bond Fund on or before each Payment Date the
Available Tax Increment in an amount equal to the Payment then due, or the actual Available
Tax Increment, whichever is less. Any Available Tax Increment remaining in the Bond Fund
shall be transferred to the Authority's account for the TIF District upon the termination of the
Note in accordance with its terms.
4.03. Additional Obli�ations. The Authority will issue no other obligations secured in
whole or in part by Available Tax Increment unless such pledge is on a subordinate basis to the
pledge on the Note.
Section 5. Certification of Proceedings.
5.01. Certification of Proceedings. The officers of the Authority are hereby authorized
and directed to prepare and furnish to the Owner of the Note certified copies of all proceedings
and records of the Authority, and such other affidavits, certificates, and information as may be
required to show the facts relating to the legality and marketability of the Note as the same
appear from the books and records under their custody and control or as otherwise known to
them, and all such certified copies, certificates, and affidavits, including any heretofore
furnished, shall be deemed representations of the Authority as to the facts recited therein.
Section 6. Effective Date. This resolution shall be effective upon approval.
Approved by the Board of Commissioners of the City of Monticello Economic Development
Authority on , 2018.
President
ATTEST:
Executive Director
521619v3 MNI MN190-156 B-q,
UNITED STATE OF AMERICA
STATE OF MINNESOTA
COUNTY OF WRIGHT
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
No. R-1
TAX INCREMENT REVENUE NOTE
SERIES 20_
(BRIGGS HOUSING PROJECT)
Rate
%
�
Date
of Ori�inal Issue
,20
The City of Monticello Economic Development Authority (the "Authority") for value
received, certifies that it is indebted and hereby promises to pay to Rivertown Residential Suites,
LLC or registered assigns (the "Owner"), the principal sum of $ and to pay interest
thereon at the rate of percent ( %) per annum, solely from the sources and to
the extent set forth herein. Capitalized terms shall have the meanings provided in the Contract
for Private Redevelopment between the Authority and the Owner, dated as of ,
2018 (the "Ageement"), unless the context requires otherwise.
1. Payments. Principal and interest ("Payments") shall be paid on August l, 20_
and each February 1 and August 1 thereafter ("Payment Dates") to and including February 1,
2046 (the "Maturity Date") in the amounts and from the sources set forth in Section 3 herein.
Payments shall be applied first to accrued interest, and then to unpaid principal. Interest
accruing from the date of issue through and including February 1, 20_ shall be added to
principal.
Payments are payable by mail to the address of the Owner or such other address as the
Owner may designate upon thirty (30) days written notice to the Authority. Payments on this
Note are payable in any coin or currency of the United States of America which, on the Payment
Date, is le�al tender for the payment of public and private debts.
2. Interest. Interest at the rate stated herein shall accrue on the unpaid principal,
commencing on the date of original issue. Interest shall be computed on the basis of a year of
360 days and charged for actual days principal is unpaid.
3. Available Tax Increment. (a) Payments on this Note are payable on each
Pa}nnent Date solely from and in the amount of Available Tax Increment, which shall mean, on
each Payment Date, Ninety percent (90%) of the Tax Increment attributable to the Miniinum
521619v3 MNI MN190-156 B-5
Improvements and Redevelopment Property that is paid to the Authority by Wright County in the
six months preceding the Payment Date.
(b) The Authority shall have no obligation to pay principal of and interest on this
Note on each Payment Date from any source other than Available Tax Increment and the failure
of the Authority to pay the entire amount of principal or interest on this Note on any Payment
Date shall not constitute a default hereunder as long as the Authority pays principal and interest
hereon to the extent of Available Tax Increment. The Authority shall have no obligation to pay
any unpaid balance of principal or accrued interest that may remain after the final Payment on
the Maturity Date.
4. Default. If on any Payment Date there has occurred and is continuing any Event
of Default under the Agreement, the Authority may withhold from payments hereunder under all
Available Tax Increment. If the Event of Default is thereafter cured in accordance with the
Agreement, the Available Tax Increment withheld under this Section shall be deferred and paid,
without interest thereon, within thirty (30) days after the Event of Default is cured. If the Event
of Default is not cured in a timely manner, the Authority may terminate this Note by written
notice to the Owner in accordance with the Agreement.
5. Prepayment. The principal sum and all accrued interest payable under this Note is
prepayable in whole or in part at any time by the Authority without premium or penalty. No
partial prepayment shall affect the amount or timing of any other regular Payment otherwise
required to be made under this Note.
6. Nature of Obli ag tion. This Note is one of an issue in the total principal amount of
$ , issued to aid in financing certain public redevelopment costs and administrative
costs of a Redevelopment Project undertaken by the Authority pursuant to Minnesota Statutes,
Sections 469.090 through 469.1081, and is issued pursuant to an authorizing resolution (the
"Resolution") duly adopted by the Authority on , 2018, and pursuant to and in full
conformity with the Constitution and laws of the State of Minnesota, including Minnesota
Statutes, Sections 469.174 to 469.1794, as amended. This Note is a limited obligation of the
Authority which is payable solely from Available Tax Increment pledged to the payment hereof
under the Resolution. This Note and the interest hereon shall not be deemed to constitute a
general obligation of the State of Minnesota or any political subdivision thereof, including,
without limitation, the Authority. Neither the State of Minnesota, nor any political subdivision
thereof shall be obligated to pay the principal of or interest on this Note or other costs incident
hereto except out of Available Tax Increment, and neither the full faith and credit nor the taxing
power of the State of Minnesota or any political subdivision thereof is pledged to the payment of
the principal of or interest on this Note or other costs incident hereto.
7. Re�istration and Transfer. This Note is issuable only as a fully registered note
without coupons. As provided in the Resolution, and subject to certain limitations set forth
therein, this Note is transferable upon the books of the Authority kept for that purpose at the
principal office of the City Finance Director, by the Owner hereof in person or by such Owner's
attorney duly authorized in writing, upon surrender of this Note together with a written
instrument of transfer satisfactory to the Authority, duly executed by the Owner. Upon such
521619v3 MNI MN190-156 B-6
transfer or exchange and the payrnent by the Owner of any tax, fee, or governmental charge
required to be paid by the Authority with respect to such transfer or exchange, there will be
issued in the name of the transferee a new Note of the same aggregate principal amount, bearing
interest at the same rate and maturing on the same dates, within 15 days after the delivery by the
Owner of its request and approval of such request by the Authority if required under the
Agreement.
Except as otherwise provided in Section 3.3(d) of the Agreement, this Note shall not be
transferred to any person or entity, unless the Authority has provided written consent to such
transfer.
IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things
required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen,
and to be performed in order to make this Note a valid and binding limited obligation of the
Authority according to its terms, have been done, do exist, have happened, and have been
performed in due form, time and manner as so required.
IN WITNESS WHEREOF, the Board of Commissioners of the City of Monticello
Economic Development Authority have caused this Note to be executed with the manual
signatures of its President and Executive Director, all as of the Date of Original Issue specified
above.
Executive Director
CITY OF MONTICELLO ECONOMIC
DEVELOPMENT AUTHORITY
President
REGISTRATION PROVISIONS
The ownership of the unpaid balance of the within Note is registered in the bond register
of the City Finance Director, in the name of the person last listed below.
Date of
Registration
, 20
Re�istered Owner
Rivertown Residential Suites, LLC
Federal Tax I.D No
521619v3 MNI MN190-156 B_�
Signature of
Finance Director
SCHEDULE C
FORM OF CERTIFICATE OF COMPLETION
(The remainder of this page is intentionally blank.)
521619v3 MNI MN190-156 C-1
CERTIFICATE OF COMPLETION
WHEREAS, the City of Monticello Economic Development Authority (the "Authority")
and Rivertown Residential Suites, LLC ("Redeveloper") entered into a certain Contract for Private
Redevelopment dated , 2018 (the "Contract"), recorded at the office of the County
Recorder of Wright County as Document No. ; and
WHEREAS, the Contract contains certain covenants and restrictions set forth in Articles
III and IV thereof related to constructing certain Minimum Improvements; and
WHEREAS, the Redeveloper has performed said covenants and conditions insofar as it is
able in a maruler deemed sufficient by the Authority to permit the execution and recording of this
certification;
NOW, THEREFORE, this is to certify that all construction and other physical
improvements related to the Minimum Improvements specified to be done and made by the
Redeveloper have been completed and the ageements and covenants in Articles III and N of the
Contract relating to such construction have been performed by the Redeveloper, and this Certificate
is intended to be a conclusive determination of the satisfactory termination of the covenants and
conditions of Articles III and IV of the Contract related to completion of the Minimum
Improvements, but any other covenants in the Contract shall remain in full force and effect.
521619v3 MNI MN190-156 C_2
Dated:
STATE OF MINNESOTA
COUNTY OF WRIGHT
►31�
CITY OF MONTICELLO
DEVELOPMENT AUTHORITY
:
Authority Representative
ECONOMIC
The foregoing instrument was acknowledged before me this day of
20_, by , the of the City of Monticello
Economic Development Authority, a public body corparate and politic under the laws of the
State of Minnesota, on behalf of the authority.
Notary Public
This document was drafted by:
KENNEDY & GRAVEN, Chartered (MNI)
470 U.S. Bank Plaza
Minneapolis, Minnesota 55402
Telephone: 337-9300
(Signature page to Certificate of Completion)
521619v3 MNI MN190-156 C-3
SCHEDULE D
Form of Renter's Income Verification Form
PROPERTY INFORMATION
Postal Address of Property
Unit Number
TENANT INFORMATION
Name of Tenant
Phone #
Number of family/household members:
Annual Household Income* $
*Annual Household Income must he supported by documentation (i.e. copy of most current 1040's, etc.). Failure to
provide verification will constitute a"non-qualifying tenant".
- -_
iNCOME LIMIT INFORMATION
Does the Tenant meet these limits and has appropriate documentation been submitted?
YES NO
Pursuant to the Contract for Private Redevelopment between the City of Monticello Economic Development
Authority and Rivertown Residential Suites, LLC dated as of , 2018, at least 10 of the 47 rental units
comprising the Minimum Improvements must be reserved for tenants whose income is 50% or less of the area's
median gross income.
Signature of Tenant(s)
Reviewed and approved on behalf of Rivertown Residential Suites, LLC.
BY Date
D-1
521619v3 MNI MN190-156
Date
Date
EDA: 6/12/19
7 Consideration of Adoptin� Resolution #2019-06 Approvin� Preliminarv Developmenmt
Agreement with Beard Group, Inc. for Block 52 Redevelopmente (JT)
A. REFERENCE AND BACKGROUND:
This item is for EDA consideration of a Preliminary Development Agreement (PDA) with
Beard Group, Inc. in connection with potential Block 52 Redevelopment efforts. At the May
29, 2019 Special EDA meeting action was taken to authorize staff to negotiate a Preliminary
Development Agreement (PDA) with Beard. The Preliminary Development Agreement is
essentially an agreement wherein both parties to continue working toward a final formal
Development Agreement and setting out certain benchmarks and performance requirements
of both parties in the movement toward a formal development agreement. Beard's Block 52
proposal is included in the PDA as an attachment.
Al. STAFF IMPACT: There is a limited staff impact in considering the PDA. The EDA
attorney drafted the resolution and the PDA. The Economic Development Manager and
reviewed and organized the prepared materials for consideration by the EDA.
A2. BUDGET IMPACT: There is not a specific fee proposed at this time related to the
execution of a PDA, though the financing which is detailed in the document alludes to the
standard TIF application fee of $10,000 which is to cover the cost of staff involvement in
reviewing and preparing the TIF inaterials for consideration by the EDA, will be a key
component of PDA performance and eventually be incorporated into a final development
agreemen�
A3. STRATEGIC IMPACT: The Block 52 Redevelopment efforts are part of the City of
Monticello's strategic goals so noted in the 2017 Strategic Plan as well as in the 2018 update.
Goal #1 "Create & Preserve Sustainable Livability" with a sub-goal of Working to attract and
develop a healthy mix of housing options is a key alignment with the EDA consideration for
the PDA with Beard Group. Goal #4 "Support A Vibrant Economy" and the sub-goal of
"Support development and redevelopment of publicly owned property" also fits the entire
Block 52 effort. The City and EDA own approximately 55 percent of the Block at this time.
There are other key properties in this Block which can also be included in a redevelopment
concept.
The Small Area Study (SAS), adopted by the EDA and the City in late 2017, focuses on
redevelopment of Block 52 as a key strategy to revitalize the downtown area. The SAS plan
calls for adding residential units (and associated purchasing power) in the core City and
specifically in Block 52. The specific Block 52 plan calls for ground floor entertainment,
dining and retail uses as well. The Beard Group concept meets those objectives by adding 95
residential units and a restaurant and commercial site along MN TH #25. It is strongly
believed that a development modeled after the Beard concept will make a positive
contribution to Monticello's community and economic vitality.
EDA: 6/12/19
B. ALTERNATIVE ACTIONS:
L Motion to adopt Resolution #2019-06 approving a PDA between Beard Group, Inc. or its
assigns and the EDA in connection with the potential mixed-use redevelopment in Block 52.
2. Motion to deny adoption of Resolution #2019-06 approving a PDA between
3. Motion to table adoption of Resolution #2019-06 approving a PDA between B Beard
Group, Inc. or its assigns and the EDA in connection with the potential mixed-use
redevelopment in Block 52 for further research and discussion.
4. Motion of other as determined by the EDA.
C. STAFF RECOMMENDATION:
Staff recommends that the EDA proceed per Alternative #1. The EDA reviewed and
commented on the various concept proposals for prospective Block 52 redevelopment at its
May 29, 2019 Special EDA meeting. At that meeting, the EDA engaged in a developer-
concept ranking exercise with the results leading to Beard Group, Inc. scoring the highest
number of points among the four developers interviewed for the Block 52 efforts. Following
the ranking exercise, the EDA authorized staff to negotiate a PDA for consideration at an
upcoming EDA meeting. The PDA, if approved, is an initial agreement wherein the EDA and
Beard Group, Inc. reach an understanding for continued discussion and negotiation to define
the terms and conditions of a formal Block 52 development agreement for consideration by
the EDA at a future date.
Beard's concept is a full block development in a horizontal mixed-use form with side by side
residential and commercial development components. Their concept specifies 951uxury
multi-family units on the west half of the block in the form of a three-story building over an
underground (garden level) parking garage. The garage entrance-exit point is on River Street.
The commercial portion of the concept is designed as a stand-alone restaurant pad in the
northeast corner of the Block along with a sizeable commercial building site in the southeast
corner of the Block Beard has indicated that they would focus on the residential component
as their primary effort. The commercial parcels would be a secondary effort with timing
dependent on obtaining lease or purchase agreement commitments. River Street is slated to
remain open under the Beard concept.
D. SUPPORTING DATA:
a. Resolution #2019-06
b. Preliminary Development Agreement
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO.
APPROVING PRELIMINARY DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
AND THE BEARD GROUP, 1NC.
BE TT RESOLVED by the Board of Commissioners of the City of Monticello Economic
Development Authority ("Authority") as follows:
Back rg ound.
1.01. The Beard Group, Inc. (the "Developer") desires to acquire certain property (the
"Property") in the City of Monticello (the "City"), which Property has been the subject of certain
preliminary negotiations with the Authority in connection with the construction of a multi-use
development on the Property (the "Development").
1.02. The Authority and the Developer have determined to enter into a preliminary
development agreement (the "PDA"), providing for negotiation of a definitive purchase and
development contract that will address (among other things) terms under which the Developer will
acquire a portion of the Property from the Authority and construct the Development on the Property,
and the Authority may provide certain financial assistance if warranted to make development by the
Developer financially feasible.
1.03. The Board has reviewed the PDA, and has determined that it is in the best interests
of the Authority to approve and execute the PDA.
2. Approval of PDA.
2.01. The Authority approves the PDA, and authorizes and directs the President and
Executive Director to execute same in substantially the form on file, subject to modifications that do
not alter the substance of the transaction and are approved by the President and Executive Director,
provided that execution of the PDA by such officials will be conclusive evidence of their approval.
2.02. Authority officials and consultants are authorized to take any other actions necessary
to carry out the Authority's obligations under the PDA, and to bring a proposed definitive purchase
and development contract before the Authority.
Approved this 12th day of June, 2019, by the Board of Commissioners of the City of Monticello
Economic Development Authority.
President
ATTEST:
Secretary
585540v1MN190-159
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
PRELIMINARY DEVELOPMENT AGREEMENT
(Block 52 Multi-Use Development)
THIS AGREEMENT, dated this _ day of June, 2019, by and between the City of
Monticello Economic Development Authority, a public body corporate and politic under the laws of
Minnesota ("Authority") and The Beard Group, Inc., a Minnesota corporation ("Developer"):
WITNES SETH:
WHEREAS, the Authority owns certain property within an area of the City of Monticello
("City") designated as Block 52, which properry is legally described in Exhibit A attached hereto
(the "Authority Property"), and Developer is negotiating the purchase of certain additional property
within said Block 52, which property is legally described in Exhibit A attached hereto ("Developer
Property" and together with the City Property, the "Development Property"); and
WHEREAS, the Developer has submitted a preliminary proposal (the "Proposal") for the
development of the Development Property (the "Development"), a portion of which proposal is
attached hereto as Exhibit B; and
WHEREAS, the Developer has requested the Authority to explore the use of certain public
assistance to assist with the Development; and
WHEREAS, the Authority has determined that it is in the Authority's best interest that the
Developer be designated sole developer of the Property during the term of this Agreement; and
WHEREAS, the Authority and the Developer are willing and desirous to undertake the
Development if (i) a satisfactory agreement can be reached regarding the Authority's commitment
for public costs necessary for the Development; (ii) satisfactory mortgage and equity financing or
adequate cash resources for the Development can be secured by the Developer; and (iii) the
economic feasibility and soundness of the Development and other necessary preconditions have
been determined to the satisfaction of the parties; and
WHEREAS, the Authority is willing to evaluate the Development and work toward all
necessary agreements with the Developer if the Developer agrees to make the nonrefundable
deposit described herein, which is intended, in part, to reimburse the Authority for its costs if the
Development is abandoned by Developer or necessary agreements are not reached under the terms
of this Agreement.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
obligations set forth herein, the parties agree as follows:
1. Negotiations between the parties shall proceed in an attempt to formulate a definitive
purchase and development contract ("Contract") based on the following:
584783v1MN190-159
(a) the Developer's Proposal, which shows the scope of the proposed
Development in its latest form as of the date of this Agreement, together with any changes
or modifications required by the Authority;
(b) a mutually satisfactory Contract to be negotiated and agreed upon in
accordance with negotiations contemplated by this Agreement;
(c) such documentation regarding economic feasibility of the Proj ect as the
Authority may wish to undertake during the term of this Agreement; and
(d) other terms and conditions of this Agreement.
2. It is the intention of the parties that this Agreement: (a) documents the present
understanding and commitments of the parties; and (b) will lead to negotiation and execution of a
mutually satisfactory Contract for the Development prior to the termination date of this Agreement.
The Contract (together with any other agreements entered into between the parties hereto
contemporaneously therewith) when executed, will supersede all obligations of the parties
hereunder.
3. During the term of this Agreement, the Developer shall:
(a) Submit to the Authority a design proposal to be approved by the Authority
showing the location, size, and nature of the proposed Development, including floor layouts,
renderings, elevations, and other graphic or written explanations of the Development. The
design proposal shall be accompanied by a proposed schedule for the starting and
completion of all phases of Development.
(b) Submit an overall cost estimate for the design and construction of the
Development.
(c) Submit a time schedule for all phases of the Development.
(d) Undertake and obtain such other preliminary economic feasibility studies,
income and expense projections, and such other economic information as the Developer
may desire to further confirm the economic feasibility and soundness of the Development.
(e) Submit to the Authority the Developer's financing plan showing that the
proposed Development is financially feasible, and, to the extent Developer seeks public
financial assistance in any form (including reduced land cost, waiver of fees, and tax
increment financing), evidence that such assistance is reasonably necessary to make the
Development financially feasible.
(� Furnish satisfactory financial data to the Authority evidencing the
Developer's ability to undertake the Development.
(g) Furnish any other information reasonably requested by the Authority in
connection with the Development, including without limitation information concerning
noise, environmental factors, and conformity with the Declaration of Restrictive Covenants
584783v1MN190-159 2
governing the Property.
4. During the term of this Agreement, the Authority agrees to:
(a) Commence the process necessary to undertake such public assistance as is
necessary pursuant to the terms of the Proposal, including without limitation
commencement of actions necessary to terminate all existing agreements and tax increment
financing districts related to the Property, and to create a new housing tax increment
financing district that includes the Property.
(b) Proceed to seek all necessary information with regard to the anticipated
public costs associated with the Development.
(c) Estimate the Authority's level and method of financial participation, if any,
in the Development and develop a financial plan for the Authority's participation.
5. It is expressly understood that execution of the Contract shall be subj ect to:
(a) A determination by the Authority in its sole discretion that its undertakings
are feasible based on (i) the projected tax increment revenues and any other revenues
designated by the Authority (to the extent requested by Developer); (ii) the purposes and
objectives of any tax increment, development, or other plan created or proposed for the
purpose of providing financial assistance for the Development, if any, including the
determination that such assistance is reasonably necessary in order to make the
Development possible; (iii) the best interests of the City and Authority.
(b) A determination by the Developer that the Development is feasible and in
the best interests of the Developer.
6. This Agreement is effective from the date hereof through December 31, 2019, unless
e�tended with approval of the Authority's board of commissioners. After expiration of the term of
this Agreement, neither party shall have any obligation hereunder except as expressly set forth to the
contrary herein.
7. The Developer shall be solely responsible for all costs incurred by the Developer. In
addition, the Developer shall reimburse the Authority for Administrative Costs, as hereafter defined.
For the purposes of this Agreement, the term "Administrative Costs" means out of pocket costs
incurred by the Authority and City attributable to or incurred in connection with the negotiation and
preparation of this Agreement, the Contract, and other documents and agreements in connection
with the Development, including without limitation all costs in connection with replatting of the
Property and the cost of financial advisors, attorneys, and planning engineering and environmental
consultants.
In order to secure payment of the Administrative Costs, the Developer has delivered to the
Authority funds in the amount of $10,000 upon submission of Developer's application for tax
increment assistance. If at any one or more times during the term of this Agreement, the Authority
determines that Administrative Costs will exceed $10,000 and that additional security is required,
the Authority shall notify the Developer of the amount of such additional security. Within ten
584783v1MN190-159 3
calendar days of receipt of this notice, the Developer shall deliver to the Authority the required
additional security. The Authority will utilize the funds delivered by the Developer to pay or
reimburse itself for Administrative Costs. Upon termination of this Agreement, the Authority will
return to the Developer the funds paid by the Developer to the Authority pursuant to this Section 7,
less an amount equal to the Administrative Costs incurred by the Authority through the date of
notice of termination. For the purposes of this paragraph, Administrative Costs are considered to
be incurred if they have been paid, relate to services performed, or are payable under a contract
entered into, on or before the date of the notice of termination.
This Section 7 shall survive termination of this Agreement and shall be binding on the
Developer regardless of the enforceability of any other provision of this Agreement.
8. This Agreement may be terminated upon ten (10) days written notice by either
party to the other of any of the following events of default, only if such events of default shall
remain uncured during the aforementioned notice period:
(a) an essential precondition to the execution of the Contract cannot be met; or
(b) if, in the sole discretion of the Authority, an impasse has been reached in the
negotiation or implementation of any material term or condition of this Agreement or the
Contract.
9. During the term of this Agreement, the Authority agrees that it will not negotiate
or contract with any other party concerning the development of the Property. The Developer
shall not assign or transfer its rights under this Agreement in full or in part, or enter into any
subcontracts to perform any of its obligations hereunder, without the prior written consent of the
Authority.
10. In the event that the Developer, its heirs, successors or assigns, fail to comply with
any of the provisions of this Agreement, the Authority may proceed to enforce this Agreement by
appropriate legal or equitable proceedings, or other similar proceedings, and if the Authority is the
prevailing party, the Developer, its heirs, successors or assigns, agree to pay all costs of such
enforcement, including reasonable attorneys' fees.
11. If any portion of this Agreement is held invalid by a court of competent jurisdiction,
such decision shall not affect the validity of any remaining portion of the Agreement.
12. In the event any covenant contained in this Agreement should be breached by one
party and subsequently waived by another party, such waiver shall be limited to the particular
breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent
breach.
13. Notice or demand or other communication between or among the parties shall be
sufficiently given if sent by mail, postage prepaid, return receipt requested or delivered personally:
(a) As to the Authority: City of Monticello Economic Development Authority
404 Walnut Street, Suite 1
Monticello, MN 55362
Attn: Executive Director
584783v1MN190-159 4
(b) As to the Developer: The Beard Group, Inc.
750 2"d Street NE, Suite 100
Hopkins, MN 55343
Attn: Chief Executive Officer
14. This Agreement may be executed simultaneously in any number of counterparts, all
of which shall constitute one and the same instrument.
15. This Agreement shall be governed by and construed in accordance with the laws of
the state of Minnesota. Any disputes, controversies, or claims arising out of this Agreement shall be
heard in the state or federal courts of Minnesota, and all parties to this Agreement waive any
obj ection to the jurisdiction of these courts, whether based on convenience or otherwise.
16. The Developer hereby agrees to protect, defend and hold the Authority, the City
and their officers, elected and appointed officials, employees, administrators, commissioners,
agents, and representatives harmless from and indemnified against any and all loss, cost, fines,
charges, damage and expenses, including, without limitation, reasonable attorneys fees,
consultant and expert witness fees, and travel associated therewith, due to claims or demands of
any kind whatsoever caused by Developer or arising out of actions of Developer (and excluding
those caused by or arising out of the Authority's or City's own acts or conduct) with regard to (i)
the development, marketing, sale or leasing of all or any part of the Property, including, without
limitation, any claims for any lien imposed by law for services, labor or materials furnished to or
for the benefit of the Property, or (ii) any claim by the state of Minnesota or the Minnesota
Pollution Control Agency or any other person pertaining to the violation of any permits, orders,
decrees or demands made by said persons or with regard to the presence of any pollutant,
contaminant or hazardous waste on the Property deposited or released by Developer; and (iii) or
by reason of the execution of this Agreement or the performance of this Agreement. The
Developer, and the Developer's successors or assigns, agree to protect, defend and save the
Authority, and its officers, agents, and employees, harmless from all such claims, demands,
damages, and causes of action and the costs, disbursements, and expenses of defending the same,
including but not limited to, attorneys fees, consulting engineering services, and other technical,
administrative or professional assistance incurred by the Authority as a result of the actions of
Developer. This indemnity shall be continuing and shall survive the performance, termination or
cancellation of this Agreement. Nothing in this Agreement shall be construed as a limitation of
or waiver by the Authority of any immunities, defenses, or other limitations on liability to which
the Authority is entitled by law, including but not limited to the maximum monetary limits on
liability established by Minnesota Statutes, Chapter 466.
584783v1MN190-159 5
IN WITNESS WHEREOF, the Authority has caused this Agreement to be duly executed in
its name and behalf and its seal to be duly affixed hereto and the Developer has caused this
Agreement to be duly executed as of the day and year first above written.
DE VELOPER:
THE BEARD GROUP, INC.
By
Its:
AUTHORITY:
CITY OF MONTICELLO ECONOMIC
DEVELOPMENT AUTHORITY
By
Its President
By
Its Executive Director
584783v1MN190-159 6
EXHIBIT A
Description of Development Property
Authority Property:
Developer Property:
584783v1MN190-159 A-1
EDA Agenda: 06/12/19
8. Economic Development Report (JT)
A. WSB Economic Development Assistance Report: Please see attached report dated
June 7, 2019.
B. Prospects — See attached
A spread sheet with the concept stage and active search prospects is attached as Exhibit B.
C. Volunteer Picnic - Reminder — See Flyer (Exhibit C.)
D. EDA Farmland Status Update — Parcel in Otter Creek Business Park — verbal update
will be provided at meeting
Memorandum
To:
From:
Date:
Re:
Monticello Economic Development Authority
Jim Thares, Economic Development Manager
Jim Gromberg, Economic Development Coordinator
June 7, 2019
Bi-Monthly Report
WSB Project No. 013322-00
wsb
Thank you for the opportunity to continue to assist the City of Monticello in their continued efforts
to provide economic vitality for the community and the residents. Below are updates on the
� projects that are currently being completed for the city with regards to the economic development
o efforts. Some of the highlights were:
c�
W Project Shepard: Jim and I met with Project Shepard to discuss the proposal and their needs for
�, the new facility. We also invite the DEED representative to attend to assist with any questions
� concerning state programs. The company has narrowed their attention for potential sites to 2 in
the City of Monticello. Jim and I are currently working on developing an information matrix for a
� comparison of the 2 sites. This will allow for the company to have a better idea on the positives
� of each site.
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Project 6580: Jim and I have met with the company to discuss the status of their decision on the
potential sites in the City. One of the original sites that was proposed is now being considered by
a different project. We will be working with them to determine if one of the other sites is a better
fit for their project. The primary focus will be to keep their project moving forward to prevent the
loss of other projects as they are struggling with their decision.
Industrial Park Study: We are currently schedule the meeting s and gathering the background
data for the report and the status of the market for industrial space. The current projects in both
Becker and Monticello have had a significant effect on the industrial land markets. One of the
biggest positives of the recent announcements and requests for information is a growing need for
space. This will cause the City to need continue to consider the direction of industrial property
growth in the future.
Legislative Session: While the legislative session failed to pass a bonding bill, they did
recapitalize the Minnesota Investment Fund and the Job Creation Fund to allow for assistance to
future projects. They also funded the TEDI program which will have about $2.4 million available
for projects.
DartPoints: One of the contacts made at the Dallas FAM tour was the DartPoints which builds
small microdata centers to serve smaller communities. They generally need approximately 1-2
acres and look for both good fiber access and electric infrastructure. The City of Monticello is a
possible site for one of their projects as they expand out of lowa.
Please let me know if you have any questions concerning the above projects or require additional
information on the projects. In addition, let me know if you have additional projects that should be
reviewed and included.
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� As a BIG THANK YOU...
City of Monticello volunteers and their
families are invited to join us for a picnic at
Ellison Park!
Rain or Shine
Please RSVP with number attending to
HF'@ci.monticello.mn.us by June 24th
CITY OF
� Monticello
,