EDA Agenda 06-10-2020 (Workshop Meeting)AGENDA
WORKSHOP MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, June 10, 2020 — 4:30 p.m.
North Mississippi 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, and Sarah Rathlisberger
1. Call to Order
2. Roll Call
3. Mid-year 2020 EDA Budget Review-Update
4. Mid-year 2020 EDA Work Plan Review-Update
5. Block 52 Redevelopment Update
6. Monticello 2040 + Comprehensive Plan Update
7. Adj ournment
EDA: 06/10/20
3. Consideration of the 2020 EDA Bud�et (JT)
A. REFERENCE AND BACKGROUND:
This is provided as an update of the EDA 2020 Budget at the mid-year point. There are
severa12020 workplan obj ectives that may result in significant expenditures in the second
half of the year so it is important to provide the EDA with a clear to understanding its
financial position. The bullet points below will address key FUND positions needed to
offer guidance for the balance of the year.
EDA General Fund position started 2020 at a balance of $1,779,000 +/-
Maj or Expenses to date in 2020 include:
($325,000) +/- for land purchase and related LJMC Expansion costs
($171,000) +/- for normal operating expenses; includes Housing Study and Industrial
Land Feasibility Study and house demolition costs
EDA General Fund position as of the end of May 2020 is approximately $1,283,000 +/-
2020 Workplan Objectives Expenses
($415,000) Big Ticket Item #lin 2020
($160,000) Big Ticket Item #2 in 2020
$708,000 +/- Balance prior to 2020 Tax Levy Receipts
+$175,000 Add in 2020 Tax Levy Receipts - July 2020
Updated new balance after Tax Levy Receipts $883,000
($155,000) +/- 2"d half of year 2020 Expected Operating costs
728,000 +/- Projected December 15, 2020 fund balance
+$175,000 Add in 2020 Tax Levy Receipts (December 20, 2020)
$903,000 Year End 2020 Fund Balance (12-31-20)
Note: Expect to receive $300,000 in funds from UMC in February of 2021 as deferred
land purchase payment for 7.39 acre parcel located on Chelsea Road
$1,153,000 +/- Projected March 2021 Fund Balance; considers J and F 2021expenses
($425,000) Big Ticket Item #3 in 2021
$728,000 +/- Projected March 15, 2021 Fund Balance
EDA: 06/10/20
Al. STAFF IMPACT: Staff impacts in preparing materials to provide the EDA a mid-
year 2020 Budget update is minimal.
A2. BUDGET IMPACT: There are no extraordinary expenses due to updating the
EDA with the mid-year 2020 Budget update.
B. ALTERNATIVE ACTIONS:
1. No motion needed; discussion only
C. STAFF RECOMMENDATION:
The EDA Budget update is provided as an informational guide to help the EDA assess its
available resources in the context of its goals and obj ectives as noted in the adopted 2020
Workplan. There are no staff recommendations provided as it is informational. Staff
does recommend that the EDA members offer guidance to staff regarding follow up
questions or the need for more information.
D. SUPPORTING DATA:
A. EDA Budget Report from 12-31-20
B. Spreadsheet - Estimated EDA FUND Balances
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CITY OF
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MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
2020 ANNUAL ECONOMIC DEVELOPMENT WORK PLAN
EDA Purpose:
The EDA is charged with coordinating and administering the City of Monticello's economic
development and redevelopment 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 Redevelopment
Supporting Life-Cycle Housing Choice
GOAL(S): FACILITATING REDEVELOPMENT
Objective: Continue to support redevelopment efforts for publicly-owned properties on
Block 52.
Strategies:
1. Continue to focus on site control for a potential future targeted redevelopment in Block 52 as
envisioned in the Downtown Small Area Study Plan.
2. Continue to collaborate with Beard Group, Inc. in the design of a redevelopment plan
suitable for the Block 52 site(s).
3. Reconnect Walnut Street to River Street in support of redevelopment.
4. Remain open to strategic opportunities for redevelopment throughout the community.
5. Refocus on aggressively marketing Block 34 and the CedarBroadway site.
GOAL(S): ENHANCING DOWNTOWN
EXPANDING TAX BASE
SUPPORTING LIFE-CYCLE HOUSING CHOICE
I�.�yI11Y1I.11Y1►[l�.��II]D1U�11[�]�u1�1►Y1
Objective 1: Implement the recommendations of the Downtown Small Area Plan.
Strategies:
1. Support and advocate for improvements to the downtown as envisioned in the Small Area
Plan and Walnut Street Corridor Plan.
2. Develop and support the appropriate policies, programs, and incentives that enable the type
of development described in the Plan.
3. Continue to build a funding base for use in property acquisition and redevelopment efforts in
targeted areas.
4. Implement a fa�ade improvement program for desired revitalization areas.
5. Continue to meet with downtown property owners either in either an informal group setting
(Downtown Rounds) 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.
6. Encourage continued incorporation of arts as an economic development tool for powntown
Monticello and the community at-large.
7. Support opportunities for park and pathway development as consistent with the Downtown
Small Area Plan.
8. Encourage the redesign of the pathway connection under the MN TH #25 bridge to
incorporate safety elements and improved lighting.
9. Ensure greenway and pedestrian/cycle connections are considered within the downtown and
from the downtown to other areas within the community.
2 � �"���:
Objective 2: Develop and implement a comprehensive Marketing & Communication
Strategy for priority sectors and locations.
Strategies:
1. Engage a marketing intern to design and implement the Marketing & Communication
Strategy in concert with the Communications Manager and Economic Development
Manager.
2. Support the development of an economic development brand and implement in all sectors of
economic development activities.
3. Enhance the brand and tell the story of Downtown Monticello.
4. Incorporate the marketing of EDA incentive programs in a more proactive manner, both
within the community and beyond,
a. Present existing and new incentive programs to smaller community groups, local
banks, realtors, and local businesses either on in an informal group session or a
formal roundtable format.
b. Develop and communicate a"complete" development package program which
provides support and assistance to prospects and developers from inquiry to
construction.
5. Market industrial development at the Monticello Business Center (Otter Creek Business
Park) to a broad variety of prospects as guided by the current and future Comprehensive
Plan.
a. Focus on prospects which serve or rely on the St. Cloud and Twin Cities markets.
b. Focus on supply chain prospects.
6. With the IEDC, communicate with current business and industry in support of Business
Retention & Expansion.
a. Engage in informal business and industry small group meetings and explore
potential format of helpful formal round tables meetings.
b. Work with the Monticello Times to do a business spotlight or profile article two
times per year.
Objective 3: Support community quality-of-life initiatives which act as economic
development tools.
Strategies:
1. Encourage and support coordinated planning and development of parks, trails in or near
business districts.
2. Support the development Bertram Chain of Lakes Regional Park, including community
connections.
GOAL: SUPPORTING LIFE-CYCLE HOUSING CHOICE
Objective(S): Evaluate the need for specific housing types and act as a partner in
creating affordable housing development for the community.
Strategies:
1. Complete 2020 Housing Study update to assess housing needs across the spectrum of
housing choice and incorporating changing demographic trends.
2. Develop revised policy statements for housing which address the identified study needs.
3. Continue to market workforce housing development on EDA owned land along East 4tn
Street and Outlot A of Country Club Manor, or at other suitable sites in the City, including
the Downtown.
4. Support efforts by private and non-profit entities to develop affordable housing projects
utilizing state and federal programs.
5. Examine use and application of available housing TIF dollars per the 2016 TIF Management
Plan and the adopted Policy Statements for Available TIF Funds.
6. Continue to periodically examine housing stock for aging or blighted properties and research
development of programs for redevelopment and/or revitalization of existing housing.
GOAL(S): EXPANDING TAX BASE, ATTRACTING & RETAINING JOBS
Objective 1: Continue to develop and leverage available tools for business
development and job creation.
Strategies:
1. Continue discussion on use of tax reimbursement/abatement, including development of
criteria/application.
2. Identify and communicate new or innovative state and federal programs or grants which
could be leveraged to support business development.
3. Proactively support small business start-up efforts through programs and various tools
available for small businesses.
Objective 2. Collaborate with various local entities involved in monitoring and
developing workforce training awareness efforts to address workforce
needs.
Strategies:
1. Continue to support the IEDC interactions with in the Wright County Workforce
Pathways efforts in addressing workforce needs and training.
2. Consider IEDC recommendations and be prepared to be a partner in potential
solutions based on WCWFP findings.
4���ge
Objective 3:
opportunities.
Strategies:
Engage as a partner in local and regional planning and development
L Monitor the regional planning efforts of the Central Mississippi River Regional Planning
Partnership (CMRRPP) and engage with feedback as requested.
2. 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.
3. Monitor commuter rail development in and around the Twin Cities metro region for potential
benefits and opportunities to serve Monticello.
Appendix: Monticello Comprehensive Plan, 2008 — Economic Development
5���ge
Block 52 Activities in 2020
6-10-20
Workshop with presenter on downtown development in late January 2020
EDA approves extension of Preliminary Development Agreement with Beard Group in early March 2020
Meeting with Jon and Lucille Murray in March 2020 regarding update of Block 52 Development activities
Phone update with property owners in Block 52 in March and April and June, 2020
Meeting with Beard Group regarding next steps in Block 52 Redevelopment process
Scheduled meeting with Beard Group to discuss Block 52 — 6-24-20
Arranged meetings between Beard Group and Block 52 Property owners for 6-245-20