EDA Agenda 07-10-2019 (Workshop Meeting)AGENDA
WORKSHOP MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, July lOth, 2019 — 4:30 p.m.
Academy Room, Monticello Community Center
Commissioners: President Steve Johnson, Vice President Bill Tapper, Treasurer Jon
Morphew, Tracy Hinz, 011ie Koropchak-White and Council members Lloyd
Hilgart and Jim Davidson
Staff: Jeff O'Neill, Angela Schumann, EDA Executive Director Jim Thares, Jacob
Thunander, Wayne Oberg
1. Call to Order
2. Roll Call
3. 2020 Budget and HRA Levy Review
4. Fund Balance Review, Proj ect Updates and Proj ected Fund Impacts
5. Adj ournment
3.
EDA Agenda - 07/10/19
Consideration of 2020 EDA Bud�et and 2020 HRA Levv Tar�et (JT)
A. REFERENCE AND BACKGROUND:
During the workshop session, staff will provide a review of the EDA General Fund
Budget and correlate it to the HRA Levy request. The annual budget process schedule
will also be reviewed. The current statutes allow the EDA levy to be approved at the
same time as the City levy in September. As noted below, staff intends to bring forward
final consideration of the levy and budget in August.
At the workshop, staff will review in depth, the budget calendar, the proposed EDA 2020
Budget and the HRA levy for feedback and as context for the budget and fund impact
discussion following.
Bud�et Calendar Cvcle: See below EDA Budget-HRA Levy review/adoption calendar.
July 10, 2019 Workshop Mtg.
July 10, 2019 Regular Mtg.
August 14, 2019 Regular Mtg.
August 14, 2019 Regular Mtg.
Sept. 9, 2019 City Council Mtg.
Dec. 9, 2019 City Council Mtg.
Dec. 28, 2019
Budget Workshop at 4:30 p.m.
Discussion and feedback regarding HRA Levy
Consider Resolution adopting 2020 HRA Levy
Consider adopting 2020 EDA Budget
Council considers prelim. levy including HRA Levy
Council considers final levy and budget including
EDA-HRA components
Property tax levies (General Levy and HRA Special
Benefit Levy) Certified to Wright County
Draft Bud�et Proposal: The proposed 2020 EDA operating
budget is further divided into several different maj or segments.
below along with the amounts ranging from highest to lowest:
Redevelopment Activities
Personnel
Professional Services
Marketing
Training Travel and Dues
Operations and Supplies
Internet Technology Services
Tota12020 Budget
$141,500
$128,269
$ 47,000
$ 24,400
$ 11,500
$ 4,566
$ 3,006
$360,241
budget is $360,241. The
The categories are shown
The attached pie chart, Exhibit A, illustrates the percentage of each expense category as a
component of the entire budget. Additional comparison can be seen in the attached
spreadsheets (Exhibit B) showing multi-year amounts and subtotals.
HRA Levv Discussion and Feedback: The HRA levy trends are shown below. The
maximum allowed property tax levy and the actual adopted levy are shown for the past
several years along with allowed maximum for 2020.
Staff recommends that the EDA consider setting the 2020 HRA property tax levy at the
maximum allowed, .0185% of estimated market value, which should result in an amount
of $355,000 to $360,000. The EDA's primary goal of achieving a significant level of
Block 52 redevelopment efforts, depends on the ability to assemble of additional land and
accommodate relocation costs eventual demolition of blighted structures. To be able to
achieve that ultimate goal will require resources provided through the levy.
Year Taxable Mkt. Value Allowed Levv bv Statute Actual Levv
2020 $1,923,814,900 $355,000 +/- ??
2019 $1,883,565,600 $348,000 $348,000
2018 $1,748,750,200 $323,000 $323,000
2017 $1,631,446,700 $302,000 $280,000
2016 $1,513,570,400 $280,000 $280,000
The proposed levy is calculated at .0185 percent x municipal taxable market value (2020 =.0185 x$1,923,814,900).
Al. STAFF IMPACT: The staff impact to seek feedback about the levy is minimal.
A2. BUDGET IMPACT: The cost of presenting the 2020 Property Tax Levy discussion
to the EDA for review and feedback is minimal. It is part of the normal work duties of
the EDA Executive Director.
A3. STRATEGIC PLAN IMPACT: Goal #4 - Support A Vibrant Economy:
Expand City/EDA owned industrial land inventory in targeted areas; Support
development and redevelopment efforts for publicly owned properties.
B. ALTERNATIVE ACTIONS:
L Motion is optional; informational feedback sought from the EDA
C. STAFF RECOMMENDATION:
Staff suggests the EDA to consider its goals/mission to facilitate economic development,
Redevelopment and housing activities that will help expand the tax base, increase
Employment opportunities and create a vibrant economy as part of its decision process.
D. SUPPORTING DATA:
a. Pie Chart — 2020 Budget Category Percentages
b. Multi Year Expenditure and Revenue Spreadsheets
c. 2019 Community Economic Development Goals (from Council visioning session)
d. 2019 EDA Goals and Objectives
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ECONOMIC DEVELOPMENT AUTHORITY
2019 ANNUAL ECONOMIC DEVELOPMENT WORK PLAN
EDA Purpose:
The EDA is charged with coordinating and administering the City of Monticello's economic
development and redevelopinent plans and programs. The EDA is also responsible for housing
and housing redevelopment.
EDA Work Plan Mission Statement:
The EDA's work plan is adopted in support of achieving the goals of the Monticello
Comprehensive Plan and the 2017/2018 City Strategic Plan. The EDA will be proactive by
developing and undertaking actions for achievement of the Comprehensive Plan's Economic
Development goals and will be reactive in responding to economic development opportunities as
they arise in the most timely and effective manner possible. The EDA shall utilize the economic
development strategies of the Comprehensive Plan, including the Downtown Small Area Plan as
a guide for action.
Comprehensive Plan Goals:
Attracting & Retaining Jobs
Expanding Tax Base
Enhancing Downtown
Facilitating Redevelopinent
Housing Choice for Life-Cycle
EDA Objectives:
1. Continue to support redevelopment efforts for publicly-owned properties in Block
52.
a. Continue to focus on site control for a potential future targeted redevelopment in
Block 52.
b. Resolve the parking issues that relate to potential future redevelopment of Block
52.
c. Engage with the wider development coinmunity to test concept ideas and explore
the marketability of Block 52 as well as the opportunities for possible partnerships
in redevelopment plans/efforts.
d. Support as needed the completion of transportation improvements as envisioned
in the Downtown Small Area Study Plan.
2. Implement the recommendations of the Downtown Small Area Plan
a. Support and advocate for improvements to the downtown as envisioned in the
Small Area Plan.
b. Develop and support the appropriate policies, programs, and incentives that
enable the type of development described in the Plan.
c. Continue to build a funding base for use in property acquisition and
redevelopment efforts in targeted areas.
d. Implement a fa�ade improvement program for desired revitalization areas.
e. Meet with downtown property owners either in a group setting or individually to
understand their concerns with traffic, parking, land use and possible reinvestment
in their property as well as willingness to sell, partner, price, etc.
f. Support opportunities for park and trail development as consistent with the
Downtown Small Area Plan.
g. Encourage the redesign of the pathway connection under the MN TH #25 bridge
to incorporate safety elements and improved lighting.
3. Engage as a partner in local and regional development opportunities as they arise
and also the Comprehensive Planning process as it relates to strategic visioning,
land use, transportation, housing and economic development components.
a. Encourage and support coordinated planning and development of parks, trails in
or near business districts.
b. Support the developinent of the pathway connecting Bertram Chain of Lakes
Regional Park and the City limits.
c. Continue discussion on use of tax reimbursement/abatement, including
development of criteria.
d. Consider funding and/or completing studies that provide policy and strategy
framework for desired land uses/or projects in the downtown and for other
programs.
e. Monitor commuter rail development in and around the Twin Cities metro region
for potential benefits and opportunities to serve Monticello.
4. Support new multi-family housing development through the use of financing tools
such as new TIF Districts or use of excess TIF dollars as identified in the 2016 TIF
Management Plan and per the adopted Policy Statement for Available TIF Funds.
a. Develop marketing packets illustrating financial tools and available sites.
b. Dialogue with multi-family housing developers and inform them of available
resources to support MF development.
c. Sponsor a multi-family housing developer expo providing site and financial
assistance information facilitating relationship building.
d. Continue to explore a 30 to 36-unit workforce housing development on EDA
owned land along East 4t�' Street or at other suitable sites in the City.
5. Market industrial development at the Monticello Business Center (Otter Creek
Business Park) to a broad variety of prospects.
a. Ramp up multi-channel marketing efforts (including a familiarization tour);
establish a formal plan and appropriate evaluation metrics.
b. As guided by the Comprehensive Plan, target the following prospect areas:
i. Businesses which will be a supplier, customer or collaborative partner to
existing businesses within the community.
ii. Businesses which would benefit from Monticello's utility and
communications infrastructure.
iii. Work with the CentraCare Health System to ensure the retention of
and to promote the expansion of health care services in Monticello.
c. Focus on prospects which serve or rely on the St. Cloud and Twin Cities markets.
d. Work with the Monticello Times to do a business spotlight or profile article two
times per year.
e. Actively participate/network with current businesses to help establish external
relationships.
6. Market EDA incentive programs in a more proactive manner, both within the
community and beyond, beginning with the education on such resources at the EDA
level.
a. Continue to foster external networking opportunities.
b. Present existing and new incentive programs to smaller community groups, local
banks, realtors, and local businesses.
c. Develop and communicate a"complete" development package prograin which
provides support and assistance to prospects and developers from inquiry to
construction.
d. Update multi-format (print, digital) suinmary resource piece.
e. Explore the opportunity to develop an incubator building or pre-designed building
(shell plans) with contractors ready for development.
7. Actively (aggressively) market for sale and development the EDA-owned properties
at Cedar Street and Outlot A.
a. Identify types of businesses sought for specific properties and market to these
sectors accordingly.
b. Develop marketing materials for the fonner Fair Garden site along East
Broadway.
c. Identify coinmercial properties which should be held for larger redevelopment
potential.
8. Encourage more proactive lead development and response in all market segments to
support a diversified tax base.
a. Develop relationships with local realtors and banks.
b. Explore agent/broker relationships; evaluate the opportunity to engage a
development facilitator.
c. Develop a list of target properties and share with realtors and bankers.
d. Research and communicate state and federal incentive programs for bringing
businesses into community.
9. Examine housing stock for aging or blighted properties and research development
of programs for redevelopment and/or revitalization.
a. Understand the state of the current housing stock/inventory and areas of need.
b. Identify and prioritize potential programs, such as:
i. Program for acquisition for redevelopment
ii. Program for revitalization
iii. Program to encourage new development in in-fill areas
c. Exa�nine use of available housing TIF dollars per the 2016 TIF Management Plan
and the adopted Policy Stateinents for Available TIF Funds
d. Establish clear criteria for "blight" and "cluster areas" for focus of programs.
e. Identify and communicate state and regional programs which could be leveraged
to support identified properties; identify programs applicable to each property.
10. Support the development of an economic development brand and implement in
economic development activities.
a. Work with Communications Manager to develop coordinated economic
development (including amenities such as technology and recreation)
marketing message(s) and plan.
b. Create and/or enhance economic development materials for the website.
c. Build value in development resources reference materials and communications
pieces.
11. Support the IEDC in its lead role in Business Retention and Expansion efforts and
in workforce engagement and development efforts.
a. Continue to engage and support the IEDC as the primary partner and lead in the
Business Retention and Expansion Program.
b. Continue to support the WCEDP sponsored workforce development efforts.
Appendiac: Monticello Comprehensive Plan, 2008 — Econonzic Development
EDA Agenda - 07/10/19
4. Discussion-Review of Potential Proiects and Bud�et Impacts (JT)
A. REFERENCE AND BACKGROUND:
This information is in this report is provided as an update of various potential projects
and a guide to anticipated funding needs related to work priorities and/or proj ects in the
upcoming timeframe of 2019 - 2021 timeframe (30 months +/-). The EDA Balance Sheet
as of 6-30-19 is provided in the packet as well as the available extra TIF Dollars
information sheet. Projects are listed below. Staff will engage the EDA in discussion on
each of the work priorities and specific proj ects noted below.
Potential Proiects in 2019 thru 2021 Timeframe Work Cate�orv Impact R E
Project #6580
Proj ect Shepherd
Proj ect Novus
Ind R
Ind R
Ind E
Fa�ade Improvement Program DTR E
Housing Affordable
Block 52 Red.
Supporting attachments include:
Exh A EDA FUNDS Balance Sheet
Exh B Budget Discussion Spreadsheet
Exh C TIF Mgmt. Plan Summary
Exh D Staff Report from January 9, 2019
Hous E
DTR E
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3.
EDA Workshop Agenda — O1/09/19
Consideration of Discussion re�ardin� Funds Balances (JT)
A. REFERENCE AND BACKGROUND:
This item is in consideration of discussion about the EDA Funds Balances. There are
numerous sub-funds (GMEF, SCDP-RLF, TIF Accounts) under the EDA's control. Staff
has asked the Finance Department to provide a best guess YE2018 estimate for 2019
objectives' budget matching. This will help the EDA to shape the Workplan going
forward and guide realistic visions of the resources that are available to try to accomplish
particular obj ectives.
General Fund Balance:
Estimated near year-end balance is $1,180,000 +/-. The General Fund can be used for a
variety of needs/purposes including land acquisition. The general expected operational
costs for 2019 are about $250,000 +/-. Preserving an additional margin of at least
$130,000 +/- for unforeseen expenditures, would leave an estimate of $800,000 +/- to use
for potential land acquisition.
TIF Funds:
1-6 — $712,941
1-19 — $249,665
1-23 - $108,823
1-22 - $129,656
1-24 - $163,415
1-29 - $112,686
1-30 - ($16,506)
1-34 - $2,503
1-35 - $1,954
Redevelopment [Fa�ade Impr. Prog. Commitment = [$200,000]
Affordable Housing [Briggs Commitment] *
Redevelopment
Redevelopment = $101,209.47 and Aff. Housing = $28,446.53
Affordable Housing [Briggs Commitment] *
Affordable Housing
Affordable Housing
No future funds available
Redevelopment
Expected and Potential Revenue in 2019
HRA Levy $175,500 in late June
HRA Levy $175,500 in early December
Potential Land Sale in Otter Creek Business Park =$81,000 +/- High Confidence
Potential Land Sale in Otter Creek Business Park =$240,000 +/- Low Confidence
Al. STAFF IMPACT: The staff impact due to presenting the 2019 Funds Balances
information to the EDA for review and discussion is minimal; estimated to be 6 hours
(includes time during the EDA meetings).
A2. BUDGET IMPACT: There is minimal cost of reviewing the Funds Balances in an
EDA Workshop and none outside of limited staff time and office supplies.
B. ALTERNATIVE ACTIONS:
None needed; discussion only
C. STAFF RECOMMENDATION:
The discussion of the Funds Balances will help the EDA understand its available
resources and give it guidance into formulating the 2019 Goals and Obj ectives
Workplan.
D. SUPPORTING DATA:
a. EDA Financial Statements as of 12-17-2018
b. TIF Fund Balances and Projections
c. TIF Management Plan Available Funds Policy
2