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EDA Agenda 06-24-2020AGENDA REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, June 24th, 2020 — 7:00 a.m. Bridge Room, Monticello Community Center 505 Walnut Street, Monticello, MN 55362 Participants can choose to attend remotely via Go-To on your computer, tablet or smartphone https://�lobal.�otomeetin�.com/j oin/525058997 You can also dial in using your phone. (For supported devices, tap a one-touch number below to join instantly.) United States: +1 (312) 757-3121 - One-touch: te1:+13127573121„525058997# Access Code: 525-058-997 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, Sarah Rathlisberger and Jacob Thunander Call to Order 2. Roll Call Consideration of additional agenda items 4. Consent Agenda None 5. PUBLIC HEARING - Consideration of Resolution #2020-06 Approving a Downtown Fa�ade Improvement Grant to Jill Agosto, owner of property located at 142 West Broadway, Monticello, MN 6. Consideration of Resolution #2020-07 endorsing proposed Duffy Development 53-unit Low Income Housing Tax Credit (LIHTC) apartment development concept and potential for TIF assistance as it seeks financing through Minnesota Housing Finance Agency (MHFA) 7. Consideration of Approving Small Business Emergency Grant Agreements in the amount of $5,000 to: New China Buffet of Monticello; Rustech Brewing; Elevated Wellness, LLC; Lily's Massage; Chin Fong Inn, Inc.; and Monticello Chamber of Commerce & Industry to mitigate COVID-19 economic impacts 8. Director's Report 9. Adj ourn EDA Agenda: 06/24/20 5. PUBLIC HEARING — Consideration of Resolution #2020-06 approvin� a Fa�ade Improvement Grant A�reement to Jill A�osto, A�osto Law Buildin� (142 W. Broadwavl A. REFERENCE AND BACKGROUND On May 25, 2020, staff received an application for the Downtown Fa�ade Improvement Grant program from the Agosto Law Building (Jill Agosto). The building is located at 142 W. Broadway and currently contains multi-tenant space. The building was constructed in 1900 and is a single-story building. It is adj acent to a vacant parcel and a vacant building. The Cuningham Group developed a rendering for the front fa�ade of the property, which included new building signage, grinding down and painting the stucco, a new storefront with transom windows, and a historic plaque. It should be noted that in addition to front fa�ade improvement, the applicant has also applied to utilize a portion of the funds to cover the cost of repairing and/or replacing the stucco on the east side of the building. 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 • Financial Commitment Letter from Bank • Proj ect Quotes/Estimates (Two Quotes) • Property Legal Description The applicant has provided two quotes to complete the work as depicted in the rendering provided by the Cuningham Group. The applicant received quotes from the Chuba Company (19276 Vernon Street NW, Elk River) and Scott Builders, Inc. (12 Division Street E, Buffalo). Ms. Agosto has indicated that her contractor of choice is the Chuba Company as they are familiar with her property and have completed work on her building in the past. Most recently, the Chuba Company was hired by Agosto to replace the roof and to fix damage to the rear of the building. Based on the quotes supplied, the applicant proposes to use the lower of the two quotes for only the front fa�ade work. The Chuba Company has provided an estimate for the cost of the improvements for both the front (north) and east elevations at a total cost of $105,626.95 plus building permit fees. The cost for completing only the front (north) fa�ade totals $29,217.15 plus building permit fees. Scott Builders, Inc. quote for only the front fa�ade totals $81,872. It should be noted that the Scott Builders, Inc. quote includes full transom windows, rather than false transom as proposed by the Chuba Company. The false transom is preferred by the applicant. The current grant guidelines stipulate a maximum of $50,000 in funding per property. Ms. Agosto has applied for the full $50,000 through the grant program, expressing a desire for the EDA to consider funding a portion of the cost for updating the west elevation. Agosto notes that in order to match the fa�ade to the rest of the building, the east elevation should be completed too. The stucco on the east elevation is in need of repair. Staff has reviewed the proposed quotes with Cuningham Group. Cuningham indicated that the use of EIFS is acceptable, although seam work will need to be reviewed. In addition, the EDA Agenda: 06/24/20 Cuningham Group will work with the Chuba Company to verify final lighting and window details. The applicant has provided limited details on financial commitment for the balance of the proj ect by issuing a new Line of Credit through Wells Fargo. Also, per State Statue and the grant application guidelines, a public hearing notice for consideration of the business subsidy was published in the Monticello Times on June 11, 2020. At the time that a grant application is approved, the applicant will be required to provide a final contract from her 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 submitting all requirements on Page 5 of the Fa�ade Improvement Program Grant Guidelines. Completion of the final updated rendering is also included within the scope of the EDA agreement with Cuningham for each property. Staff will work with the Cuningham Group on this document as it is required to be attached to the grant agreement and to be used by the selected contractor as a project completion guide. B. ALTERNATIVE ACTIONS: Motion to adopt Resolution #2020-06-approving Fa�ade Improvement Grant Agreement in the amount of $ with the Agosto Law Building, contingent on the following: 1. Compliance with all grant guideline requirements 2. Execution of a grant agreement including final proj ect rendering and contractor contract meeting all program requirements 2. Motion to table action on Resolution #2020-06 approving Fa�ade Improvement Grant Agreement with Agosto Law Building. 3. Motion of other. C. STAFF RECOMMENDATION: Staff recommends approving a portion of the funding towards the front fa�ade of the building, but defers to the EDA for funding the east portion of the building. The EDA guidelines specify that improvements are only to be used for the front fa�ade. Staff hopes that if awarded the grant, work will commence this summer and become a domino effect for other property owners to move forward with an application to the program. D. SUPPORTING DATA: A. Resolution #2020-06 B. Completed Grant Application from Jill Agosto dated May 25, 2020 a. Completed Application b. The Chuba Company Quote c. Scott Builders, Inc. Quote � EDA Agenda: 06/24/20 d. Wells Fargo Financial Commitment Letter C. Cuningham Group Building Fa�ade Rendering D. Grant Agreement Template EDA RESOLUTION N0.2020-06 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. The Authority has held a public hearing on the date hereof concerning the Grant, and hereby 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, 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 Grant Agreement by such officials shall be conclusive evidence of approval. 1 585528v1MN325-40 Approved this 24th day of June, 2020, by the Board of Commissioners of the City of Monticello Economic Development Authority. President ATTEST: Executive Director 585528v1MN325-40 � � R , , � , � n�a�v�rrc�LLo ��. . `� � ��l�l�e�+� �ow�vra�vn� F,��.�� M�RovEn�t�N��r GIZAI'�i'T FUN� APPLICATI[�N 1. CQNTAC7' INFOI'�MATI[7l'�I �egal Name crf Business: Pra��ct 5ite Address; Cit�� St�te 1 Zip: Cc�ntarE I��rsnn(s �� l' : �"�Q � l�kTL': C%E,Ck C7Tle. I'r0�]T]etOi Cnrpnratic�n �'artnership Federal ID � State 1D � Legal Name of I'roperty Qtiti>>�er: ' c �� J�� Projert 5ite Address; %�� f.�r I�,J��r�'%+r� Cit�r f 7t�$�' 1� Z1�7' ///(/�! � �cr�tact P�rs��n(5): �� iL1 ��5,� ]'�li)f1L`: _ 2. PROJEC7' GQALS �_[T� 71�: Pleasc gi�� a brieF summary of th� praje�t: �G'� �- ��,�� i��GLsC -%,r�,��s a,� �� r�� s�,�e � � � '!� � c� �� . ��.s s� �a� � �.''��I��G ��i�, �� . , � � r �`� � 4' `�`�r�l�ra� �'� • /� C��'� � ��.�G'/G'�c.�-s . t��SC�J l ,�,�y� lG��/��/ I ! . t +�. �i t.c�`� �' �1� • '�� '�l� i � � � 1►�c� �� -� Y-- , i �� ;� „ 4, . �� e t� � c� � . Ple�se describ� ho�v th� }�rn}�osed project tvill positi��ly impact the citS�'s do��ntc�wr�jCentr�l Cornmunity I]istri�t;j �—� �.c.� +�t.�.... �C3? G� � �'��„� � �,� � � � �� 3. n L Ut.f_f r l'�[� t..(� Vl .,� �C� i L�(J� ��. �► L..�..�� ' C. � � CC.� � � �- � C.� � k� �J � �. �'2 � � �� `�--�� -�-C� .�� (� �u� 1 C.� � S C� �- �. vr��C:�� , PRC7JECi FUNDIIVG A. �IZANT USE FUNDING ILEQUEST Mc�xi7izasan grarzt a�nna��:t of $50,�t3a Fa��d� Impr��=ements Frontage Impro��e�-n�nts {5i�;na�e, av�rnings, p�rmanent lanc�s�a}�in�} Tatal Grant Request: S. QTHEIZ PRQPDSED Fi.INQING SOi1RCE5 Bank Loan Private Fund Commitment [5"/o require�l) A��icant Commitment Oth�r 7'otal Dther Funding Sc�urces PIZOJECT T�T�L. E9 � s S�. �� .l�1'1['� �v1 �f� �'. � f VYt��jCrn[h �S �G�- � �. ��Gj b�.cn�G S [�- . �'R�JECT C£)NTACTS (Lenders, pri�ate fund_ing source, partner5, etc...] � I �p �l ` L' �ame �dde�. I'��c�ne, '\i;snll Acfdress PhoneJEmail: �. Arr,��H��Ts ��Ec�c titsr Please attach the fulloti�ing: _ r1J Le#fer nf C�nlmitrnrnt fram the C7th�r S��urres of Financing, Statin,� Terms and Cc�ndixions nf cheir Partiei�a#�can in Proj�ct [if applicable} _ B} �rnje�t I'lar7s (Arc:�aitectural ]�endt�rin�; and Scope m�vst be included} C} Pr�aject [�rac�tesl�stimates D}Prcrperty Le�al Bescri�ation AGREEMENT ]/ W� e�rtif!,� that all infnrmati�n prnvid�d in this z�p�rlica#i�n is true anci corrert ta fhe Mest of rnyJ��r knrn,�Eec�gc. 1 J�'VE= �wthorize the A��ntirellc� EaA t� ��erif}� fin�nciasl �i7d �nlher informali��r�, 1/ 1�'Ve ag,re�� ici prca��id� an}� ac�c�iiional information �� m�� be reque�ted b�r thcy eitv. The und�r�i�;n�:d has re�ived f.he ED.r�'ti polir�� rc��;ardin�; the p�ym�nC �f ec�sts c�f re��ie��, understantis that th�� EQA r��quir�s r�imbur5em�nt �f cvsts ineurred in re�•i��w+ing t}ie �,�piieatit�rt, agrees to reimburse #he EDA as rec�uired iro the pn�icy and mak� g�aymenl �vhen billed b�� the �DrA�, and a�rees that the applicatic�r� may be denied far failure ta reimburse the EI?A for costs as pr�>>id�d in thr �nlictir. _ I� ', A�'PLICANT S1Gt�'.ATUI2� . {/.,! APPLICAhIT FAME (Print); �! �I �+ � �� Y T'I2QI'EH��k` QYVN�IZ !�F�ME {Print}: ~,� /�C�1'"L° � �� PItQPEii`�i' Q�'VNER SIGNAfiUPtE� DATE: ihe EDA rs R goverrirr:e�:tad errfity a�td ns s:�tla m:�st ,�rovide ,��r�bfic acress �r� �:r6lrc dutu i# receives, Data deer�:ed by A�pri�ar�t tv be �r:o�r��rI�lir ds�ta :rardgr State Ir�tv shauld be so dectgicated nr rrzarkPd �� A}��rlrcrrrtf. Sc�e ,�Virrrrres�frt Stattttes, Seetiotrs 73.597, 5:rbd. 1 r��ad 1. J I I� :I �_' L THE �� CC3MPA�1Y 4-11-19 revise� 5-12-242Q Work tr� b�: perfr�rmed at: 14a W. Braa�way M�nticellv, MN 55362 Contract t� inclt�de th,e �ollowin�;: Fa�ade improv�rnents, with addit�onal exterior upgrades �(thi,r estimaae ra�rd �5rr��rosal daes not inclzrde cast of any frarrring, ar sl eathing re�air that may 6e r�quaredj F�ar�a�e: Retr�ove ��cisting si�,rn�e frc�rrx stc��e front I ift existin,g (tempnrary} roof cap �ut vf the way P�ep stor�front far installat�nn c�f N FIS (i_�:�cter�or Finish �nsulation 5y�tern) 'I'n include c�a�s �'B F.FiIS wit.� weather barz�er v� st�refrr�nt vrily Flashing and caulkir�� to he done in c�n�unction with stc�re-front glass installation RemDve �nd dispose of existing stucco at new transvrn �ri�dvu� location Install ncw �;�r�i wa� vcr�ecr windc�w system (CMI a.zcl��eetura� G+�DO series� fastened tv plywoar� fa�ade as typical Cl�a� anodized firrish tc� windcrw framc (to match all cxisting stnrefrant} 1" �3� clear insi.rlated glass with inte�ated grids (to rr�atch Cunningha.m grnup renderin�} w�ith s�andr�l intenc�r pane C�verall �ize of w�indc�ws tc� be 26�" W x 4$" ta�� per drawin� '�'�mporaty hea�f security enrlQsure �i£ needed} rz�ill he at addit�nnal c��st 4u}�tcat�l = � 1 ��,217.1 � - perzlu� cu5t5 1 vf 5 Initial THE ��, CQMPANY Signage: �lfre Chu6a Ga�iany is only ahle to�iravide 6udgeir�ry numhers at thas time us ther� are n� a�proved d�signs/ darr�e�zsavn.s in �I�c�) To include Iarge scale building signage (inc�ividual letter} abc�ve stQrefror�t New illuminat�:d tenant signage h�zr�g perpendicu�a� to fa�ade 9" x 11" brQ�n.ze histo�ic plaque mountcd tc� EF�S exterinr Address and contact info deca�s on door �storefront} 13uci�ct amcaunt = I LI,UUU.f)�] Ac�riiti�nal e�ter�Qr upgrades: Remove and dispose of a.�l damaged stucc�� fram side and rear �levation of buildsng �nstall new class �'P ENIS with wea.ther barrier over �xisting sheathing (if not damaged} to match the iront of the b�ilding li.xGeric�r f�:E�'15 (lt�t anr� re�r ele��tic�n5j =��i�,�27.i(� Electxxc�an tc� remo�e e�stsng meter sockets, aiscr�ranects, a�d �utt�rs �nstall new cabinets conta,is�ing; new meter socl�ets vvith discannects Extend ex�sting power rn�st into new meter �a�iinet Use existing conduits intc� bui.�ding to connect to new mete�ng �eplace feeder wires into builcii�� as �engths will char�ge with new c�.binet �:��ctrical = �11,f)�JG.�(} Z af 5 I�itia�: '`�� THE �� : CQMPAl�IY Remc�ve exis�i�g p�yvvnQd soffit panels, and facia board above re�.r entrance to ex�ose framing Inspect, rep�ace, �n�i repair as necess:�.ry Install new center vent a.lurninum safEit panels Insta�] new sub-fa�ia baard In�ta�l new custom bent, alumsnurn facia 4�zb �t.3tal = � 1,��.1 [ i (NC] �IDI31;N C[75'iS} P�i�es include rax, iabor, matenial, c�ea� up and �emaval of ail job-related debris, all manufacturers' warranries, an�l a l.i�ctit�ie 1�'r�rkmanShiP l�'arrant� firom 'I�e C�huh�. Company. �v`C) ��UR�I'Ht_!I� I�I�(:( �l_��'1"� t)li t;t:)�_: �'(3Iti� .1�.I.�)1�'f �:L� 1��'�'i`H �"H�S t7Tiii �li �I�ic� i� �nc�ci f�r 3�) da�5} �f Builder disca�ers canditians or defe�ts ir� the Prc�perty which affect the perft�rmance vf the Improvements, including, but �at lim�ited to hazardaus substances, �sbestos, lead- based paint, cvde violations, c�r u�grades ar additian� i�nprovements require� hy �pplicable building cvdes or building cade O'�iClalS, or if Build�r enco�ters ather circutnstar►ces that are reasor�ably beyvnd Buiider's conirol (c,[sllecti��ly, "Un�gQected Camditivns"), �vvner agr�es tv be respansible for the Unexpected Cvndi#ions, arid a.�l costs associated with remedyin� the U�e�pected Gonditions, inciuding a rea�onable azn�u�t to c��+er: (i} Builder's o�erhead, and {ii} B�uilder's standard prafit margin. Sui��er may require dwner to deposit aa� amount su.f�icient �c� cover the cost of rernedying the Unex�ected Conditions before Buiider wilt be abligat�d to sta� wvrk to remedy the Unexpected C+�ndition in question, and wark on the Inngro�ements r�iay be suspenr�ed nntil the [7nexpected Canditior�s are remedied. Mechsaic's LYea Nntice. Builder is required under Mir�n�esota. Law ta �ravic}e the fvllowing natice: "(a) A1VY PERS�DN �R CDMP.ANY SUPPLYING LA�3C1R OR MAT�RI.A�L.S FOrR THIS IMPRUVENiENT TU YUUR PRDPERiY MAY FILE A, LiEN AGAI�IST YUUR FR[]PEffTY IF' THAT` FERSO�N f3R COMPANY IS NUT PAiI� F[�R THEIR CUNTRIBi]TIUNS. � 3 of 5 �r�itial: � THE �� CC?MPA1�Y (6} iJ1�DER MINNESUTA LAW, Y[�Ll HAVE THE RIGHT Tq PAY PERS(]NS VI�HO S�TPPLIED LAB�R UR MATERIALS F�R THIS IMP�OVEMENT DIRE�Ti L�`�' AND DEDUCT THIS AMULINT FR�M OUR CQN7'RACT P�ICE, C3R WITHHDLD THE All'�QUNTS DU� THEI'N �'RQM US LTNTIL � 2� DAYS AFI'E�t CdMPLETI�N +U� THE IMPRQVEMEN'T'i UNLESS WE GIVE Y��7 A L�EN' WAIVER 5IGNED BY PERS�NS �VVHO SUPFLIED ANY LAB[)lt +D� MAT�RfiAL F�R THE IMFR�VEMEI+�T ANU WHQ GA`+FE YU� 7'YIVIELY N+DTICE." QWI�iER'S INI7'IALS: Ciwner The "Perf�rmance Guadelines" referenced in attache� Ext►ibi# A. T�e performa�nce Grridelines are inciudec� as required �ry Minnesvta 5tatutes 5ectivn 32bB.809(b} and incvrparafed �erei� by reference. C]wner acknowied�es re�eipt of the Perf'�rct�ance Gua.delines prior io signing this Agreement A, copy of Minz�esata Statutes Chapter 3?7A is attached as Ex�ibi# S and has been provided io �wrier in compiia��e with 1Vlinnesota Sta€�tes Sectian 327A.D8. �wner acknc�wledges receipt af the same, �tat the pravisians of Minnesata Statutes Chapter 32�7A are included as part of this Agreement, and th�t this Agreernent and the c+opy of Chagter 327A tagether canst�tute a w�rritten w�u7a.nty i�strument as required by 5ectipn 327A.a8. 7�e parties her�by agree to wai�e and replace the dispute resolufi��n process specif�ed in Minr►esata Statutes Section 327A.US 1 and agree ta resnl�e any disputes as proVided herein ar atherwi�e prt�vided u�der Minnesota law. Owner acknowledges r�ceipt af �:he Lead Hazard Pre-Rena�ation Disclostire Acknowl�tig�mer�t attacheci h�ereta as Exhihit C, and tbat the same is incva'pvrated herein hy refer�nce. Builder has the right to stop canstruction of the Inn�prv�vem�nts if [3wner faiis to make any prvgr�ss payment at the time or in the manr�er required by this Agreement or otherwise defaults und�r this Agreement. Buiider need not resume constnzction until Qwner has broug�t all payments current and cured any Qther def�ults of Qwner under this Agreement. The anticipat�d date of compietiQn shail be extended for the �eriod af the delay caused by Dwner's non-pay�nent vr default. Qwner ag,rees ta pay for all coliectivn costs, including ernployee t�me and expense anc� all att�rneys' fees and costs Builder incurs in cot�ecting payment andlor prvie�ting its i�terests in �wners' p�st due accvunt or vtherrvise enfor�in� per�vrmance of this Agreement Suilder wiil hegin wark Qn tl�e Impra�emer�ts c�n a d�te to be mutually agreed up�on be�u+een �uilder and �wner. � 4 of 5 initiai: �— THE �� C7 M P A 1�l Y In the ever►t that MN Buitdin�; Code Section 3 x 4,5 is enfarced, additionai cosis incurred to hardti�ire srnvke alarms will be the homeawners' respansibility. �f Qwner instructs Builder to gerform items of wark or i�npro�err�ent ather than as exactiy specified in any applicable insurance estimate, �wner �ears the sale risic of nr�n-payment frarri �wner's insurance corripany fcar faiii.�re t� perfarm th� �xact work vr impro�ert�ent a�proved by the insurer. Ir� su�h e�ent, �wner shali stif} be responsibl� ta pay Builder in fulZ for all labar and materials BuiIder pra�ic�es to the Pro�erty, re�ardiess af wheth�r Qr�er success��l�y recv�ers al� insuran�e proceeds sufficient to cover the full cosi of the �ab�or and materials. Ge�eral terms: - Paym�ents in stages af cvmpletinn of each phase af cpnstruction - Tot�i balan�e due ugvn substantial completian - FiLL chan�e QrderslExtras due at time of change or ex#ra selection. � Payxnent by Cash, Che�k, V�sa ar MasterCard. in ac�ordance with Ghapter 3�4-5. F, Nv. 188� The Chuba Campany w�ll not adr�ertise or prorr�ise tv pay or rebate all or part of any appli�able i�.suranc� deductibl�. Thank you for this appvrtunit�r to earn yvur business. Respectfully, �7�re.� �t1 ' The Chuba Company 19?76 Ve�c�n St. NW FIk RiVc;r, 1VIN 5533[1 P�t: 76�-441-448f3 C: G�2-413_22?6 r'ax: 7c53-44 � -5 i33 5 MN I3uilder licer�se #13CFi28158 �` ; ��' (7wner Uwn4r 5 af 5 ~ ,I� --��, � �� ` � / � Datc t)atc �.� f Initia]: •�► �r■ Proposa� for: Monticell� Fa ade � Im ro�e��x�ts p �ui�din �3 � Monticella, Minne�ota Cvntent5: Proposal Di�ision 1 General Conditions I�'rvisican 2 5ite work 17ivisiar� 4 Masanry Di�ision S Metals Di�ision 6 Woods & Pias�ics DiVisian 7 �i`hermal & Moisture P�{ateciic�n D�visio�� 8 Doot-s and Windc�ws �1V1S1QIl � F11115}l�S Di�ision 1 b Electrscal Not�s: -Pricin� is f��' �relii�is��ary b�sdgeting ptirposes. Desi�n Wor�C is lncorpc�rated into o�erall cos�struction pricir��. -A gy�asinn d�'yr�'all sof�t was figured ��h�re glass trzr�sains and lar�er windows are to he installe� tn (et i�1 inte�dcei li�ht. Acotistical Ceiling Gr�i�l l�ridge tltc �ap fi•nrn storefroi�t wall to sof�it.'�ack7 �uildin� will haVe diffe�-ent finis�ie:s ta �icc�mmc�date wt�en fin�l �la��s are de�fefopec�, b�t i�on�:y w�s ii�ured fot' lin�itecl interinr work as a plaeeholder ii� tlze bud�et. 1l�Iarch ?8, 2Q19 Prrt��osai t`or: Mnntieel�c� Fa4�tcie 1m�ro�•ements — I3uildin� #3 8��ilding �3 142 1�t� Broac��av St, Mc7r�ticeFfc�, Mi'a 55362 Ms. Jil[ Agc�sto, �T'f�arik yoii ic�r �ivin� 5cott I�uilders the a��3rtui�ity to assist y01.1 11't �t"fi1�111� this p3-c�ject to fr�iitic�n. l��e are lc�okin�� tc�r�varci to rvorkir�� witl� yc�ti on your prc�ject in Mor�ticel�n, Minnesc�ta. Per o�ir �[iscussions and ��isits to y�c�«r tn t��e �roject tocatic�n, ��e Fia��e �rep�r�d thc follo�in�; propc�sal f`flr your ��se for l�usiness �ilans, financial disci�ssions anc� �rsc for suhnlission to th� City nf M�nticello. (Jur proposai is fot� tl�e suiri c�{'$�31,872,OU Pleasc see �ielo�� for deseri�tic�ns c�n ��f�at �s incl�Fdec� in i}�is pricc. A�ain, �•e loak fE�r��a�-d t� workin� ��ith ��ou as t��is �rojec! �r�bresses. lf`you n�ed anyt�ii�� clse froiz� �s, please da not hesitate to contact me. Re�ai•ds, �ilerek tlnder5ort P�-c�ject Mar�a�er 5cott �3uild�rs. [nc. Di�zsion T : General Cvn�itions .li11 Agosto will prov�de a satisfacic�ry set nf wnrkin� c1ra�4'in�s ior Scott �3iii�ciers thr€�u�� t41e desi�n build pr�eess. Scott Bui]ders wifl hast desi�n rneetin�s in which ,Isll 11�;ost�� iill k�c able to ga o�e�'t3�e specificaiti�ns oft��e project at 142 W' Brc�adway St. in Monticell�, Minnesc�ta �vith t11e ��ps-��riatc ❑f��ials. Alf costs f'�r desigc� ��ork are incor�c�rated inta this �riee. 'C'his proposa� is laased on knorvled�e nt t�7e city in ��liich t�le prQje�t will take placc: and buildin� codes, la�vs arad re�ulaticrns. .fill A�c�sto l�as been �iven permissior� fc�r th�: use of this location fc3r E3r.�ildin� Fa�.ade Iinpro�esnes�ts. �I'fic 4and is propu�'ly r.n��ed foi- t4iis sase anc� Scc�tt I3�iifd�rs wilf har�dle fees, pe�-mits and taxes from this point fc�t•ward w�4h tl1'ss l�ud�et. Scott 13�.iilc�ers ��i14 obtain the �ppro}�riate pern�its rcquirc�l f�r constru�tiora i� �}�e ciiy c�f I'3ysl�t�ut4i ant# lhc state of M'sn�i�sota. �r�y oti�er special z`�:quir�inents are not included ira tlaiS pro�c�saf. &uilcli� #3 DIVISI�N 2 SITE WQ�K. Demalitic�n • Remove a31d dispose of notcd stc�reTrnnt. DIV1SiUN S METALS C)�•namental Metal and I� abricatYon: • Furnish and install Deco Channel, Galvanized and powder coated. I�ivisi�n 7 Thcrtnai & Moisture Praiectioi� • Prep face of wall �'or new PE3 E1FS • Furnish aild install new PB E1FS wifh air barrier at szo�refrax7t. DIVISIO�i 8 DOOk�S AND WINDQ"LVS Giass, Gl��in� 1� Storefi•onts: • Furnish �nc� install new aluminum transoms per plan ab�Ve existing Storefront glass. ��IE�c�de�� 1ti�c�isld neec� to hc fr�crmecl io dir�i�`� a�zd sarppo�t tt�ctnsom.} DIVISIQI�I 9 FINISHES Iiotigh Carpentry & Cypsum Drywal l: � PatcF� dea��a scars f�-orn remor�ed �tQrefrnntlwilldc�ws. • FL�rnish anc� insta�j �}�,�sum drywall Saffit $' behind face c�f storefront �1ass tc� ailow light in frflrn new transorn to enter. Aeoustical Ceilin�s: � Fzirnisl� and i�7st�tI 2'x�' aca�istica] ceilir�g grid and ceil�ng tile af fror7t $' of r�ew storefi•ant fa��de an� 4' p�tch barck at backside of n�w gypsum drywall sof�t. Paintin�: • Paint ne��v sflffit at frar�t entry. I7IVIS�QN l0 SPECIAL'I'IES Si�na�e; � Furnisf3 ��n� insta�l 1?" higl� x'/�" thick fl�t cut aluminum lctters fo�- "�gQsto Law" at frant fa��de of building with k�lind studs and silicone adhesir�e. • Furnis�� and install 4�" hi�l� x 54" wid� norr-ellumir�ateci do�ible face �lade sig�n. I]IV1SI+�N lb ELEGT�ICAL + Allawance of �5p0,p{] to dasc�tlnect �t�d re�ocate existiil�, li�htie�� fixtures at intet-ior af�uiiding f"or in�tall af new �toref'ront. Altern«tc�: F'rice to incIude L1esi�t�, stucca r-epair at side and re�r of'buildin�, �utte�Idoumspout and ice melt systern. ADD, ,�67,590.Q�1 . 12-12-2019 ]ill 1. A�t�sl[� R�f�.r�:i�c� h��mber AccQunt Nurnber� Your Hnrne fetuit �ocurnents Are Read Fvr Your 5i na#ure Than9c you for c�oosing Wells Farga for your financing needs. Enclosed are final dncuments for your new Line t�1� Credit. � We e»��ur2�e you to re�d ench dn�ument care�ully and revsew it 1'�r accur�cy, specifically your persc�n�il informatio��. All 1?c►cumen4� �re time sensit':ve �nd nlust he si�ned �nd da#cc� on I2-12-2(l19 . If yc�u c�rinot hav� your dacur3�cz�t� ee�rnp4et�d as�d datcd pn ]2-12-2[ll9 , pl�asc call your'+'�'ells Far�o Rcpresentati�e so tl�at we can ensure yc�ur documents are �rc�cessed pr�omptly�. • The firtit sel cont�rins ()ri�in.�l I)nct�ments Si�n c�i Re#ur:i to V4'elis I�'F�r-g�� - The sccond set c�izt�iras ()ri�;inal Uuruii�ents Si�i� �vitl� Ni�t�r,y� �Se Ret«rn to 14's�ICs Fttt'�;�s • Th� fena! ses c�ntaii�s Custc�incr Pie�se Kcc� Foe i'nur Necnrds We have prnvidcd Cva�veF�i�i31 Sr,�nirr� Inslrucriv�es �y��ci a 1.?vcuirre�2� Inslruclior�s C7�eck[isr ta �ssist yor� with sig��ing and �irttin� a11 dacurne�tt5. Ta daoid any �Vclays in rec�iving yaur fun�is, we encai�ra�;e you to t�ike tin�� [n re�iew each docuzz��it tk�at �'e4uires Your si�nat��rG and cntieiri: that a18 �arti�s listed c�n each d�cia�ne�ji si��i as tJt�i�' rtar�tc' a�vpears'. Ii vou notice ar�y errc�rs 'sn your [�ucu�neitis pl�.a�� ,tll ��rt� Wc145 F�ar�t� F{e�r�scnlati��. A�ay modificacic�ijs, cr�ss-t�u�s ��r the trse n#� ��Ffiite correctic�n flui�i will v�id ihcse d��curncnls. Ii yQu ha��e trans#'erreci or pl�n tc� transfer ynur praE�erty tv a trust or to another persan, pleas� call your Wells Fsirgo Representati�e prir�r tc� rnakin� any ct�attiges. Si�cerely, Wells Farg�n Represen�ati��e: Uicki L�Lapaj Wells Far�n Yhane Number: 1-8fi6-537-8489 Cus#9mer Welcame Ltr i�i£1 Ci 024 CDR.V24 �2/10/7 S] 1� pocum�nls Prvicessed 12-10-20i 9 17:21:11 HE• 1ptBQ4�02�18 M � i � •� W R � _ u � .O 3 a+ � H � 2 � '� o, H 0 a O L a �a a x� � z° z� � u� � � � � � � � > 0 L QC C q v � � � V LL v o - V � C O � GRANT AGREEMENT This Grant Agreement ("Agreement") is made this day of , 2020, between the City of Monticello Economic Development Authority, a public body corporate and politic and political subdivision of the State of Minnesota ("Grantor"), and Agosto Law Office, a Minnesota corporation ("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 Agosto Law Building located at 142 Broadway West 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 j ob 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 by 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 538719v3MN325-40 3 condition of this Agreement not specifically described as an Event of Default in this 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 Remed�pon 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�nment. 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: Jim Thares, Executive Director To Grantee: Agosto Law Building 142 Broadway West Monticello, MN 55362 Attn: Jill Agosto (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 , 2020, 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: AGOSTO LAW BUILDING : Title: [SIGNATiJRE PAGE TO GRANT AGREEMENT - AGOSTO LAW BUILDING] 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 corporation (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: 6/24/20 6. Consideration of Resolution #2020-07 endorsin� Duffv Development's proposed 53-unit Low Income Housing Tax Credit (LIHTC) Apartment development and the potential use of Tax Increment Financin� (TIF) to fill a$500,000 fundin� �ap (JT) A. REFERENCE AND BACKGROUND: Duffy Development, Minnetonka, MN, recently submitted an affordable housing TIF pre- application seeking assistance to support development of a 53-unit apartment that would utilize the Federal Section 42 Low Income Housing Tax Credit (LIHTC) program as the maj or source of funding for the proposal. Duffy Development presented the concept development proposal to the EDA at the June 10, 2020 meeting. Jeff Von Feldt, Duffy Development representative, provided an overview of their previous affordable housing development projects which they have completed in the Twin Cities metro area. They also reviewed the target market, the proposed funding mix, and the timeline of the application submittal and review by Minnesota Housing Finance Agency (MHFA). In addition, Duffy Development noted the highly competitive nature of the LIHTC process and the point scoring system. To score sufficient points, Duffy Development is proposing to develop a building that would rent 100 % of the units to households with qualifying income levels; 50 percent of area median income. Up to seven (7) of the units would be reserved for households transitioning from homelessness to permanent housing. Duffy Development has engaged the help of a social services agency to provide counseling and other assistive services for homeless clients in their other properties and proposes to also use that service model in this project. The proposed development site is at the far west end of the Riverwood Bank parcel on 7tn Street West. Duffy Development has entered into a purchase agreement with Riverwood Bank for an initial purchase of 2.66 acres and an option to acquire an additional 1.50 acres abutting 1-94 for future development of additional commercial or residential in a later phase. Both parcels also border Elm Street. The total estimated cost of the proposed development is approximately $13,500,000 +/-. This is inclusive of the estimated building cost. Duffy Development is seeking TIF and/or City fee waivers to fill a funding gap of approximately $500,000. Staff is asking the EDA to consider Resolution #2020-07, which is an endorsement of the proposal and a commitment to further discuss and consider the use of TIF to fill the identified funding gap. Duffy Development would include the resolution in its MHFA funding application as evidence of local commitment to the proposal. Duffy Development would receive points by providing an endorsing resolution in their 1V�'A application packet. It should be noted that this consideration by the EDA will not include a detailed review of the proposal nor a final "but-for" determination. Those TIF related discussions will be conducted at a later date if the EDA is supportive of the Duffy Development proposal and MHFA approves their funding application. EDA: 6/24/20 Duffy Development also plans to submit a concept stage planned unit development proposal for comment of the Planning Commission and City Council on July 7, 2020. Use of the Riverwood Bank site will require a comprehensive plan amendment to re-guide the parcel to residential and a rezoning to high density residential (R-4) as well as preliminary plat. The 2017 Housing Study indicates there is an estimated local demand of approximately 58 affordable housing units in the city. The 47-unit Briggs Companies apartment (Rivertown Residential Suites) development, which received TIF assistance and just opened on May 1, 2020, provides 10 of the needed 58 affordable units. A TIF run, completed by Northland Securities, is attached for review. It projects that at an estimated taxable market value of $7.42 million dollars, development would generate tax increment in excess of the amount requested by Duffy Development. The Northland proj ections show the $500,000 funding gap would be fully paid out in 14 years. It would be a policy decision if the EDA desired to decertify a prospective Duffy Development TIF District immediately after reaching the requested increment amount. Another option is to allow the district to run the full 26 years and keep the increment to assist future affordable housing development proposals. Currently the EDA is administering four previously created TIF districts where increment is being pooled and is available to help similar affordable housing development proposals. The EDA could choose to provide some of this increment towards Duffy Development's proposal also. Al. STAFF IMPACT: There is a limited staff impact in considering the TIF application from Duffy Development. The review and organization of the application materials that occurs during the creation of the staff report is part of in-house staff duties. A2. BUDGET IMPACT: This is a pre-application concept review by the EDA. There is a very modest budget impact (normal duty staff time) due to the consideration of the TIF pre- application for EDA direction on next steps. B. ALTERNATIVE ACTIONS: L Motion to adopt Resolution #2020-07 endorsing Duffy Development's proposed 53-unit LIHTC apartment development and the use of TIF assistance to fill an identified funding gap of $500,000 +/-. 2. Motion to deny adoption of Resolution #2020-07 endorsing Duffy Development's proposed 53-unit LIHTC apartment development and the use of TIF assistance to fill an identified funding gap of $500,000 +/-. 3. Motion to table consideration of adopting Resolution #2020-07 endorsing Duffy Development's proposed 53-unit LIHTC apartment development and the use of TIF assistance to fill an identified funding gap of $500,000 +/-. EDA: 6/24/20 C. STAFF RECOMMENDATION: Staff will defer to the EDA in the consideration of Resolution #2020-07 endorsing the Duffy Development affordable housing TIF proposal. While this is an initial pre-application and concept review by the EDA, it is a critical step for Duffy Development in order to be able to submit an acceptable application to MHFA. The MHFA funding submittal deadline is July 16, 2020. If Duffy Development is successful in obtaining the LIHTC funding, then they will continue on with the next TIF consideration steps with the EDA in late 2020 or early 2021. Construction on any proj ect would likely not occur until summer of 2021. D. SUPPORTING DATA: a. Resolution #2020-07 b. TIF Spreadsheet c. Duffy Development TIF pre-application submittal d. Proposed Sources and Uses e. EDA TIF Guidelines CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2020-07 RESOLUTION EXPRESSING SUPPORT FOR THE PROPOSED USE OF TAX INCREMENT FINANCING FOR A MULTIFAMILY HOUSING DEVELOPMENT BY DUFFY DEVELOPMENT COMPANY, INC. WHEREAS, the City of Monticello Economic Development Authority (the "AUTHORTTY") and the City of Monticello, Minnesota (the "City") have received a request to assist an entity to be formed by Duffy Development Company, Inc. (the "Developer") with certain costs of construction of an approximately 53-unit affordable multifamily rental housing development in the City of Monticello (the "Proj ect"); and WHEREAS, in 2017, the City engaged W SB to conduct a comprehensive housing market study, which was completed in July of 2017 and provides recommendations on the amount and type of housing that could be built in the City to satisfy demand from current and future residents through 2021, and which showed a demand for affordable rental housing in the City; and WHEREAS, a stated goal of the Authority's 2020 Annual Economic Development Work Plan is to act as a partner in creating affordable housing development for the community; and WHEREAS, the success of the Developer's application for low-income housing tax credits in connection with the Proj ect is predicated on local support of the proposal; and WHEREAS, the Developer has requested that the Authority indicate its support of the use of tax increment for the Proj ect; and WHEREAS, Authority staff has reviewed the proposal and recommends that the Board of Commissioners support the use of tax increment for the Project. NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the City of Monticello Economic Development Authority that: 1. The Board of Commissioners supports the Project and the use of tax increment financing for the Proj ect; provided, however, that authorization of tax increment financing for the Project is solely within the discretion of the City and of the Board of Commissioners following all legally required proceedings pursuant to Minnesota Statues 469.174 through 469.1794, as amended, including (i) a public hearing and approval by the City Council of the City, (ii) a determination, based on an analysis performed by the City's municipal advisor, that tax increment financing assistance is necessary for the Project; (iii) verification of development financing need, based on an analysis performed by the City's municipal advisor, that substantiates that "but for" the use of tax increment financing the Project would be unable to proceed; and (iv) the negotiation of a development agreement including (among other things) the conditions under which the City or the Authority will provide financial assistance. 2. The Board of Commissioners supports the Developer's application to MHFA for tax credits for the Proj ect. 3. The Board of Commissioners recommends that the City Council of the City adopt a resolution supporting the Developer's application to MHFA for tax credits for the Project and expressing support for providing tax increment financing assistance to the Developer for the Proj ect. Adopted by the City of Monticello Economic Development Authority this 24th day of June, 2020. 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Acldress; 7"ral�plic,nc zamnksc:x: Name c�f cnntact persan:. � ��a � � � �� all � � 6� -�—�� pa/i j� � �' m ° �i ��_ � � � �' � �....�.�...��...�.�...�....�.�.�.._�.�..�.�.�.�,. �Q�r,�s��n rr��c�r�!t�rr�oN A.dc�enduin slz�ill be a:ttacl�ec� heretc� �dd:ressi�� an detail thc fallowrzi�;: 1, A map shnwinb thu �,xacti �rc�uYxdaric;s of �ropUsed developt��ent. 2. Czve a�;en�r€�.t de;sai•iptio�a r�f" ilxe �rcajeet i►1�;iYading size �nd lt►�tttiUn of` builciing(s); busixl�;ss ty�� err us�; tr��'fi� irifornlatian inr:ludiix,� parkirl;�, prnj�acte<i vehiale cc�u�its and trat�c flc�xv, timitl� r�f tl1c; ��oj�;et; estimated t�larket v�lue Followiiig cc�rxiplctiari. �3: "1'he existing Ccr�npreli�nsive tJui�c ��lan I.A�Zd Us� desi�t�atioil aiad zo��ii�� of tl�e �aroperCy. Inclut�� ► st�teta�ent �s to k�asv the g�rc►�osec� cievelo�m��it will r��fcarm t�� tli� l�ncl us� dcsi�nation anct �ia�v the pi•c�pert� wi11 �e zod��d. A�. A state��ient idet�iifyin�;, liow ihe iricren�e�lt a�ssistazaee wili be usecl anci w1�y it is iaccessa�� t�> u��el�rt�kc t��e p��o��ti. 5, A statex��nt ideaxtii'yin�; th:e �ulal3c h�n�l;itw c7t tla� prca�osal inclu�in� e;stiinateel inere�s� in �ro�erty v1lu�tioal, �ew jobs tr� bc� cr�atecl; la�urly wa�;es �nd atl�er c�mLnnnity assuts. C�. A w�•itten descriptihn of the tievela�er°s busin.e�s, prxn�ip�tls, hisiory �nti ��st projec:t� [ �ixiderst�nd that the ap�licatic�n %e wili be useci ft�i� EI�A �ta�'f a��ci ec��lstz�tant costs �nd may be pnrtially r�;Puzxdable it tl�e regr;r��t far ass.ista:r�ce is vsrithda•awix. I�efizxxr�s will be xnade at tlac discretion of tihe ED� 1�oarcl �tncl be based oi� the cUsts incurt•ed by tiitc EUA prio�° ta witl�rixaw ��f tlYe rec�uust Co�� assi�tar�c�; TC' lt�e initial applicatio�i f'ee is iiisuf#zcient, I wi111�� res�car�si�:le for additianal dep�sits. SiGNI�,'Z"UR�; A��plivant's T7�ttie; C[TY OF MONTIC�LLO ECONOMIC DEVELOPMENT AUTHORITY Application for Business Assistance Financing GENERAL 1NFORMATION: Business Name: �� @� c� oop�nnc�� p- � JL N'�, • Address: 9 �+�9 �ii�7 � eR�, �� cr� . . �T T�2 Type (Pai-tnership, etc.): �E� �' � o �--o-�l'o � Date: �J � � � � �O'� � P�� h�'�'�� Authorized Representative: � Q,-� �b� 'i c � ��" Phone: ��j�.� ej�'°-� � (�� Description of Business: �.e_�..V 7f �-a-:'� �VJG��.`�oy�e9�' C7��'c� �ro ��i�'�, le� uor. � . Legal Counsel: ��- � e �� i h�`��( �j � C�tc� ��' r�, � c.. � Address: 2LvD ol.�ea\ � �� ' �• Phone: ��- �bCe '��"3� ��s �,,►� s�� . FINANCIAL BACKGROUND: 1. Have you ever filed for bankn►ptcy? 2. Have you ever defaulted on any loan commitment? �}' � 3. Have you applied for conventional financing for the project? ��- �� ; ��,.� p'g.� e 0/Il�k�jt� 4. List financial references: a. �" �9� � Gl CI P W f' cJ U. ��v�`�� (�y`� c. � 4ln � � �� ,. � � 5. Have you ever used Business Assistance Financing before? � G� If'yes, what, �vhere and when? V�V Q'U�� y� ��- r��v� �C��- .e� �� a � uv��► �C ee.J�� na� 1\ � • PROJECT INFORMATION: 1. Location of Proposed Proj ect: a�`\ ��,� �� Ci� e� �„ �� e. � 2. �nount of Business Assistance requested? ��1� �� 3. Need for Business Assistance: � � Q,� � �; Q � �, � ��,p � �-� �y�p�� i 4. Present ownership of site: ; 01�.�' �J� � CA .�{O L� 5. Number of pennanent jobs created as a result of project? �� rn ��v �,�:,o �� Q,�r� 6. Estimated anmial sales: Present: �� Futttre: � � � � t�0 � '(�V�� 7. Market value ofproject follo�ving completion: '��.�V��+�.1-e�� Q�� t��p .� 8. Anticipated start date: �� Q � FINANCIAL INFORMATION: 1. Estimated project related costs: a. Land acquisition b. Site development c. Building cost d. Equipme�lt e. Architectural/engineering fee f. Legal fees g. Off-site developtnent costs �� $ �� Completion Date: 2. Source of tinancing: a. Private iinanciug institution b. Tax increment funds c. Other public fimds d. Developer equity I��.I�ASB T.NCI.,i.J1?�:. 1. Preiiziainary �iz�ncial coixi��itme�t fraxn ban�. ?. P.l�ns a�id cia•awirig c�f �r�jeet. 3. B�c;kgroeYnd materi�l �icar�p��ny. 4. Ptrc� F't�r�nt� 4it�aly�is. 5. I�'tti�izcial statements. �. �tateti��;iil of �ropez•t� otivnerslaip o:r contx•ol. '7. Y�yr�eiat af �pplicaGic�z� fee of $ l Q,000. C � O � Q O O O O O N O O O O O O 00 O O O l0 O O O O l0 � Ol � c-I c-I LfI O M r-I l0 I� M I� � I� LfI � � l0 N Ol � -I i/� i/� i/� i/� i/� i/� i/� N � lD O O l!� M r-I � � N c� 3 O � � ar 67 3 � � 0 U m � 0 H O ONO O ONO O 00 00 lD N � Ol O 00 c-I � l!� c-I r-I M c-I r-I i/� i/� i/� i/� � +� � � a� = U � � (7 � N �' CA �' (6 7 C�0 6 L LLA O Q � � s � a"� L �(O L � �l � C > L � � � \ N � � `o a' � E E � Q � U EDA - TIF Criteria C1TY C�F � �i��i Ql1 1C� 0� CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY TAX INCREMENT FINANCING 1. PROJECT EVALUATION CRITERIA 1:01 Tax increment financing proposals must meet a public purpose in addition to increasing tax base; which can include but are not limited to, the creation of livable wage jobs, removal of blight, and environmental clean up. 1:02 The EDA will utilize Tax Increment financing (TIF) to support the community's long-term economic, redevelopment, and housing goals stipulated in the Comprehensive Plan and Zoning Ordinance. TIF proposals will be considered under the Comprehensive Plan and City Code in effect at the time the TIF proposal is received. 1:03 The EDA shall use the following guidelines when evaluating a TIF request. A. All TIF requests shall meet the "but for" test. The "but for" test means that the proj ect would not develop solely on private investment in the reasonable future. The developer shall provide findings for the "but for" test. B. TIF will not be provided to projects that have the financial feasibility to proceed without the benefit of the subsidy. In effect, TIF will not be provided solely to broaden a developer's profit margins on a project. C. TIF requests should create the highest feasible number of jobs on site from date of occupancy where deemed appropriate. D. For manufacturing and warehousing TIF requests, at least 90% of the jobs created must pay at least 160% of the federal minimum wage requirements for individuals over the age of 20 during the term of the assistance. In the case of a recipient with existing jobs, the EDA may determine that the wage goal is satisfied if wages are increased to at least the minimum specified in this paragraph. Annual written reports are required until termination date. Failure to meet the job and wage level goals require partial or full repayment of the assistance with interest. E. In the case of a recipient with existing jobs, the EDA may determine that the wage goal is satisfied if wages are increased by a specified amount over the federal minimum wage. Annual written reports are required until termination date. Failure to 1 EDA - TIF Criteria meet the job and wage level goals require partial or full repayment of the assistance with interest. F. TIF requests should result in a substantial increase in property value and/or property taxes. F. TIF requests should facilitate redevelopment or elimination of "substandard" or "blighted" areas where deemed appropriate. G. TIF requests should facilitate the "clean-up" of environmentally unsound property where deemed appropriate. H. TIF requests should increase housing options for area residents where deemed appropriate. 2. TIF APPROVAL CRITERIA 2:01 All new proj ects considered by the EDA should meet the following minimum approval criteria. However, it should not be presumed that a project meeting these criteria will automatically be approved. Meeting these criteria creates no contractual right on the part of any potential developer or the EDA. 2:02 Prior to approval by the EDA, the developer shall provide any and all applicable and required market and financial documentation, appraisals, soil boring, information provided to private lenders for the project, and other information or data as requested. 2:03 A recipient of TIF must make a commitment to continue operations at the site where the subsidy is used for at least five years after the benefit date. 2:04 The EDA may determine job creation or retention is not a goal of the subsidy. In those cases, the recipient must instead meet at least one of the following minimum requirements (in addition to all other criteria in this document other than those relating to jobs and minimum wages): A. To remove blight and encourage redevelopment in the commercial and industrial areas of the City in order to encourage high levels of property maintenance and private reinvestment in those areas; or B. The proposed subsidy must result in improvements to public infrastructure or public facilities, including without limitations, sewers, storm sewers, streets, parks, recreational facilities, and other City facilities; or C. The proposed subsidy must remove physical impediments to development of land, including without limitations poor soils, bedrock conditions, steep slopes, or similar geotechnical problems. 3. PROCEDURES 2 EDA - TIF Criteria 3:01 Meet with appropriate Staff to discuss the scope of the project, define public assistance requested, identify public participation eligibility, and other information as may be necessary. 3:02 The request shall be reviewed by Staff on a preliminary basis as to the feasibility of the proj ect. 3:03 The project concept shall be placed on the EDA agenda for concept review. The applicant will make a presentation of the project. Staff will present its findings. 3:04 If EDA concept review is positive, Staff will provide the City Council with an informational concept review. 3:05 The City will hold all required public hearings. 3:06 The applicant will execute and submit the Preliminary Development Agreement accompanied by a deposit per approved fee schedule. 3:07 Building and site plans will be required to be submitted to the Community Development Department. 3:08 If Planning and Zoning Commission action is required, it will be necessary for the applicant, at this time, to make application to the Commission. 3:09 Staff will authorize the following steps: A. Preparation for establishment of the Tax Increment Finance District and the Tax Increment Financing Plan if required. B. Preparation of the Purchase and Development Contract or Private Redevelopment Contract (Subsidy Agreement) based upon agreed terms. 3:10 When action is required for the Tax Increment Finance District and Plan, Purchase and Development Contract or Private Redevelopment Contract, or Zoning/Ordinance; the EDA, Planning Commission and City Council shall take appropriate action such as public hearings and consideration of approvals. 3:11 Building permit will be issued after the Tax Increment Finance District and Plan is approved by the City Council, the Purchase and Development Contract or Private Redevelopment Contract is executed by the developer and EDA, and the Building Permit Fees are paid. 3:12 Generally Tax Increment Financing proj ects take between six to eight weeks from time of authorization to begin drafting plan and contrac� History: Public Hearing and Adoption the 8�' of September 1999 Public Haring and Adoprion of Amendments the 4�' day of October 2000 Public Hearing and Adoption of Amendments the 5�' of May 2004 Public Hearing and Adoption of Amendments the 3�d day of May 2006 Public Hearing and Adoption the 12�' day of November 2008 3 EDA - TIF Criteria Public Hearing and Adoption the 23�d day of March 2009. EDA Agenda: 6/24/20 7. Consideration of Approvin� Small Business Emer�encv Grant A�reements in the amount of $5,000 to: New China Buffet of Monticello; Rustech Brewing; Elevated Wellness, LLC; Lilv's Massa�e; Chin Fon� Inn, Inc.; and Monticello Chamber of Commerce & Industry to miti�ate COVID-19 economic impacts (JT) A. REFERENCE AND BACKGROUND: The EDA is being asked to consider approving a second batch of Small Business Emergency Grant funding applications. The EDA approved the Small Business Emergency Grant Program and a source of funding at its regular May 27, 2020 meeting. The Grant Program was set up with $100,000 as an initial emergency assistance fund. The EDA also directed that the source of the grant program be from the Greater Monticello Enterprise Fund (GMEF) Loan program. This set-aside amount should fund a total of 20 grants. Six (6) new applications were received for consideration at the June 24, 2020 EDA meeting. They are shown in the following table: Name of Business Tvpe of Business # of Emplovees Amount of Grant New China Buffet of Monti Restaurant 9 $5, 000 Rustech Brewing Elevated Wellness, LLC Chin Fong Inn, Inc. Lily's Massage Restaurant Health-Care Service Hotel-Lodging Personal Care Service 9 2 12 2 Monti Chamb of Commerce Business Association (NP) 2 $5, 000 $5, 000 $5, 000 $5, 000 $5, 000 Staff have reviewed the applications for completeness and adherence to the program guidelines. A summary grant review evaluation form is also included to help the EDA in its review and discussion at the meeting. The application materials for all applicants are attached to the staff report It should be noted that the Monticello Chamber of Commerce is organized as a 501(c)6 non- profit and plays a key role in supporting business growth and communication in the community. Their application would be considered as a special exception to the program. The EDA already approved four (4) grants at its June 10, 2020 meeting. That leaves a program fund balance of $80,000. If the EDA approves the additional six (6) grant requests at the 6-24-20 meeting, that will leave a program balance of $50,000 or 10 remaining grants. Al. STAFF IMPACT: Staff time involved in considering the grant requests involves the work related to reviewing the applications and preparing the staff report for the EDA meeting. EDA Agenda: 6/24/20 The EDA's legal counsel provided a grant agreement template which is also attached to the Staff Report. A2. BUDGET IMPACT: The budget impact from considering approving six (6) Small Business Emergency Grants is in disbursing an additional amount of $30,000 from the newly created Grant program which was originally authorized at $100,000. If the EDA approves the six (6) grants in addition to the four (4) that were approved at the 6-10-20 meeting, the remaining fund balance would be $50,000. ALTERNATIVE ACTIONS: L Motion to approve Small Business Emergency Grant Agreements between the EDA and: New China Buffet, LLC; Rustech Brewing; Elevated Wellness, LLC; Lilly's Massage, LLC; Chin Fong Inn, Inc.; and Monticello Chamber of Commerce in the amount of $5,000 to mitigate COVID-19 economic impacts. 2. Motion to deny approval of Small Business Emergency Grant Agreements between the EDA and: New China Buffet, LLC; Rustech Brewing; Elevated Wellness, LLC; Lilly's Massage, LLC; Chin Fong Inn, Inc.; and Monticello Chamber of Commerce in the amount of $5,000 to mitigate COVID-19 economic impacts. 3. Motion to table consideration of approving Small Business Emergency Grant Agreements between the EDA and: New China Buffet, LLC; Rustech Brewing; Elevated Wellness, LLC; Lilly's Massage, LLC; Chin Fong Inn, Inc.; and Monticello Chamber of Commerce in the amount of $5,000 to mitigate COVID-19 economic impacts. 4. Motion of other. B. STAFF RECOMMENDATION: Staff recommends Alternative #1. The EDA authorized the Small Business Emergency Grant program at its May 27, 2020 meeting. This is the second batch of grant applications being considered by the EDA. Staff have reviewed the applications for completeness and program eligibility and finds the information provided in the application requests meet the requirements for eligibility. It should be noted that the Monticello Chamber of Commerce falls in a special category of non-profit type of organization. It is established as a 501(c)6 and as such it is not eligible for emergency funding under the PPP (Payroll Protection Program) or state assistance programs. Since the Chamber's mission is to foster business awareness and success, staff believe it would be beneficial to provide a grant to the Chamber. Many of the Chamber's fund-raising events for 2020 have been cancelled leaving them in a vulnerable budget position in the future. Per the program guidelines, the EDA has the final review and approval of the grant requests. It should also be noted that if the grants are approved, they are not considered a"business subsidy" as defined in state statutes. The program guidelines require the grant recipients to 2 EDA Agenda: 6/24/20 provide a brief follow-up report back to the City in the future describing how the funding was used. SUPPORTING DATA: A. New China Buffet Grant Application B. Rustech Brewing Grant Application C. Elevated Wellness Grant Application D. Lilly's Massage Grant Application E. Chin Fong Inn, Inc. Grant Application F. Monticello Chamber of Commerce Grant Application G. Grant Review-Evaluation Checklist H. Grant Agreement Template I. 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QR�MISES St1MMARY - PREMISES NUMBER PREMISES IaENTIFIER------�--- - - - --- • -- --- -PREMISES DESCRIPTDA 30Z8Q5B15 9319 �EdAR ST 9311193U1 3�32�2189 931 i CECIAR ST 9311��3a1 ----- ---Total-- �. — tNFOFCMAi'�ON AB(JUT YDUR �81Li. _.___.____.�._.. �__,_ _----- - -- - --------_ . _ . _ – -- –. . - ,G- .. _.� Yaur safety ar�d the safety of nur emp�oyees wi4l always be our top priority. Vlle are pre�ared and are �aking steps to ensure we'91 continue to be there faryou to meet your �ner�y needs as CDVIp-19 aff�cts a grovR+ing number af businasses irr aur �ammunities, Qurteerr� will be working day and nighttv del+verth�s energy your bus�n+ess �ounts an. Learn mare atxcelenergy.ccrmJcvvid-19�res,�onsa. ' As we continue to wnrk to slovu the spread of C�Vlp-19, payment �racessing may �e d�layetl, If you've recently mads a payment ar�d don't see it reflected, �fease kn�w we wiil not charge late fees during this time ar�� we'r� warking tn pra�ess yaur payment as �uick�y as passihle - there i� no r�ead to contact us. $�75.5� �a ao S6T5,50 �95A.36 �1,629,86 - --- CUitRENT Blll. -.�V.. $392.91 $5G�,45 $9�4.36 kE1uk�901fQM PORiipNWiTH �OURParrnEr�t � P1EA8E u0 NOTUSE SiAPI�s.TAPEDH PAPfRCLIPS CeR�erPoin� ��;:;' Ener9Y Cer.te r P� i nzE nergy. ca m Gas leak or emergenay Leave immedEately, then cafl 800-298•9$15, 24 h�urs a day VaUr usage in a glance �us��ME� CHiNABUF��T s�rt��c� c►no�aess 931� Ced�r St, Mont�ceflo, MN 553�24522 2,G48 7B 1,536 57 1.02a aa 5t2 �g 7y�y M J J A S AE IJ ,1 F M A h,� �� 2019 20QQ Ai:C:UUN7� 1yYM�E.R 61 L A7E �ay 11, 2(}2p Yaur accaunt is past due, rorA� ouE � ��s.s� Customer seroice Call before yau dig Commen#s 612-321-4939 ar 80Q�245-23T7 Call 811 P� B4x 1144 Monday • Friday, 7 am - 7 pm 24 hpurs a day Minneapolis, MN 5544�-i 144 We haven't raeeived the past due charges of $334,81. Please pay �his amount taday. Ifiyou've recenfiy made your payment, Thank Y�u. AC�CUNT SUMMARY Previous gas amour�t due $ '�.57fi-52 P�ymenk Apr 2�, 2(32d Tharrk you! - 1,242.51 Past due g�s charges due irnmediately $ 334.p1 Current q�s ch�rqes due Jun 8, 2Gzq (De#ails on page 2J �* 244.3Q Previous' U�age Itris ' Rwerage daily � uS2g0 mOn;h tempsr'dtur8 � t veaa a�o_ Las� monfh This manCh FQ�aI Therms used 1028 531 ufi3 Aversge daily gas use {3herms� 34.3 � 8.3 92.1 Averagedaiytemperature 4B 39 4B D_ays in ClHing p�iod 3G 29 30 To 6elfer undersla� your home ene�gy usags arr� fea•n erargq sawrr�ps tips, visrf Cen�erPoin�Fnargy.comlmyenerpyanafy�er How to pay your bill . �nline Visit CenlerP�inFEne�gy-cpmlpayEil! Pay immediateiy, schetlule a payment ar set up automabc monlhly payments. PlgaSe keop �is pertiM fpr ypur reCardp Total �maunt due � 578.31 _ . . _.,.,.:., :__ �.,_a_. _...:._............. ._. �.�,.., ...._.��-...v.�.,�-.} �Your accaunt is reasEy tv view now� Register for free vnEine accvun# access. View balance, usage histary, � � meke en online payment, view recommendatiorrs far saving anargy an� mcney wit� My Energy Analyzer, 4 � and much more. Regist�r at CenterPointEnergy.comlmyacenunt. � i� . _ . _..� .� ._ _. �,,._.. �E.�.�_- `_,�.,�.,-- --.,� Phane Call 6ti2•32i-4939 and make a payment usng yaurchecking orsavings accounl, or by da�i� or credif card. .' - FfES39"TBtutrtiN5pGtt16nWphyWFpd'�ETS['PIBL9S':�trQS91AWlE4f/1[ER'�drfiGW^.— G�Al�l�01R�. Energy f�I4�I�kYI�Y.��y� �■,��f:�� CHINA BU�FET 931 � CEDAR 5T Iv{ONTICELLC), MN 553B2•4522 �Ifirl�ll��i��p��il�t�l�,��ii��l��i�tl�l�nfl�et�i#lii,��i ■ ❑8�015167174� oaoov� :�„ "' - In peesvrs Ta fnd a payment loca6an, visii: Cente�Poi�+tEnergy.cornlpey6iU or ca11 61�•32i �5939. lNail �''� Return the payment siuh below, wit� yflur check or money order, using the retum envelape. AGCOUNT PAST DLIE y ACCOUNT CVUMBE� 58D5424-8 ... _. .. ., ...� _ s._,�..�.� _ � - �___�. � . �._ a- - »... _.,,�.�.�_ _-� _ .. ._ �_ - �PAST DUE AMDUhtT + CUiiRENT`6�iARGES = TOTAL AM�UNT DUE p $ 334.�1 �$ 244.30 $ 5► 8.31 f au� immediately Jun��D2� ' ��.�...._, ._,..._._.,_.,...�,..�....w._�....__..e..__.Y.�..r.�.._.-- wn[eamourt numD[r m criedc and make payahla to GmtaPdr+l �nergy. � Pk6a56 B�tg� a111911Rt Gf y0U[ qd)R136115 4 �i�ir��i��i�ini��i�iii��,,,�,ii��a��i�lfi�ll��ir�l�illi�li��l GENTERPOIl�7 EMEFtGY Pa BDX 4871 NousTort rx T�zta-as77 E3C]72�Da�058054�4 �i.50�Q��5�831Q1�017Q057$3]�3a � :� March 13. 202� STATEMENT �F SERVFCE SUBSCRfBER NA�ME CHIh1A BUFFET ACCL3UNT NUMBER C�hfTROL DATE REGESTRATION 1� CONTACT 4JS ]-888-2�5-5837 � tdsbusiness.cc�m AC rf,DUNT SU�MARY SE� BAClC F4R D�TQI�S PRE�`IOUS BALANCE � 142.b5 PAYMENTS AND RDJUSTMENTS —$142,b5 f�EMAINING BALANCE S.00 CURRENT MQNTHL4' C�iARGES 5142.55 INi�RNET . 39.99 CGMMUNICATdQN 102.55 TUTAL DU � BY �41�DZ120 $ � 42.b5 Pav Tvra� a�wounrr ouE g� ��ro�r2o2a � nCTI lf1�I �"L71C �]nnrir'+nr �n�fTa r�,•r,i �ry nn ��e nrn ir r.�-. , �r-,r nwn 4r� .� n n� � � �, r., .�,,, .. ,.... ....� fy�.�... w,...,�.. ,.. i Depo�it_Ima�� Report Transmissian �ate: 21a t1�G2Q i:48:23 PM Custorner [�a�te: A�ivl�c�aels becc;atinc C�n.er p��iosit �ate: 21911202� i:d8�13 Pi�1 Deposii Account: S3 23 Ghecking !]epvsit 7afa1: $7,T77.1 k No af Debits: 1 �epas9t Status: R�ceived �e;�osit Tra�king t1o: T85 a3a 02i LpCBtion:� A E:iAic}:aa;s Oecoratrsg Cent�r Gapture Sequenc�. . item Amount: �7,7�7.14 5erIal Num�er: �■�� --- - � � 4V B Expraac.OQpoah iic7cot virtyai aeposrt r,sisat Morchs�nt A ^ r: �.5rg Cen:vr AccaunTri� � Amount 377T7.74 Sequ6nce �ate 2d2v'G2"� t � 3 48�13 �;PHF�300{]12�: � 210:• 7 779 LLr' � � � QNB ENPf668 �B¢8615 YfC{C9S Vir.u�l t7epo:it Tic3sat PVAprcF � ..��h. .- � �:tirg CrRtaf Accour - Amrunt 57.T77.74 ae4�r ❑pt. . . . . . . . � ... � :} �:a8ca000�2�: � r►o:� � �� i�;� Capture Sequence: 7�5434Q27a�4360 Ifem Arnaurrt: $T,77i.�F4 rsEw cr�isra euEx�tr o€ eeoimceu,o uYrc_ 52 �$ sao� cEa�w si: r�,.Tm. Mo�rncnio.we �az 2.— �— � nax�� . r � �qr m thc f� + . ASSL�s+�s � Orderaf � "-' �a ��'� � '� f7�•%(� � '3�V�+TZ . � � . . �riR � � . 4� rorrrrr.0 6orrfc ,. x q•.� r°Y�c t'��-- . . �ro�'�y ►��u f �� SeCial NUmber: :521� M �, �4 � � Greated By: AEN126G806�1 �ag� 1 of � Created flra: 211112fl2D 1:48:25 PM 3. cr�ArrT R�c�u�sT �.maunt Requested: $ ,� c" r� C' 4. �TNANCTNG Please pro�ide documentsie�idence of a�khr�r sources �f state or federal fu�lds your business has been awarded or denied during the C�VID pandernic, as applica�ale, uaciuding Econc�mic Tnjuz'y �unds, PC'I', etc. 5. ATTACHIVIENTS CHECK LIST i'iease attach the followin�;: A} PraoF c�f address �:� �� c� �� - � l, t�«{, `,� � ll Lt.� C,._ �:•e-'• �7 r�[ ! S) Finaneial statements, suci� as: • Pre�ious year's annual grcass re�venue • A�erage rnont�ly �ross re�venue prior to C�VID--19 ■ Projected monihly �rass revenue far the next three monihs C} Pre�of Uf expenses to be paid �'1-�; t� � �; : � �� r't (�.r , .1 �, f' /J, : -; �;" �� ,��4. ! � r�r i�� ;i�� ` D) ��vvat'df ri�nial-l�tt�rs -�t�te ari� 3�e�ieral AssiSf�nce�rr�gra-�rxs 6. AG�EEMENT I 1 We cerfify that a�I information pra�rided in this application is true anc� correct tn the best nf mylnur knowled�e. T j'4Ne autf�arize ihe Monticel�o EDA ta verify financial and other iz�formation. I j We agree to pra�ride any �c�clitit�nal infc�rmatse�ra as rnay be reguested by the �ity. Th� undersigned has reeeiV�d the EDA's p�licy regarding the program and understands ti��t fut�r�s are �warded an a first-come first ser�ed basis.'} r ,�• AI'PLICANT 5IG1��`AT`URE r''J �� J=. ��' - - �.PP�ICAN`i' N�ME �I'rint): C� c.?Gt n L f�'1 UATE: �� Z �� The EDA is rz gQ�ernrner:ta[ entita� and as such m�tst �rovide public acress tv ptsbiic data it 7eceiues. Datc� dee»ied �iy App[icarat ta be noript�biic r[ata under State iaz� shouId �ue sn �es�grtated ar marker� by Ap�afi�ani. See IVlinnesQt'a Statutes, Sections 13.591, Sasbd. 1 �atzd 2. 3 �� [ C f 1,s �, Mfll`+JTICELL� EI)A ''� ��} �PviALL BiTSINESS �PvIERGENCY GRANT APPLICATI+dN 1, C�NTACT INFpRI�'iATI(3N L.eKal Nam� ��f E3��sir��s�; RUSTECH BREWIhJG PCi7��Ck �IfE �.d�irrtis: 145 W 3R❑ STREET City f 5t��t 1 Gi��: �onticeflo M�J 553�62 Cantact Persun(s): �ill Burt I3usiness Phnn�: (763) 27�-15'�3 �rnail: }��mc� I'lu,��E°: Chec'� U�i� I c•dt'rn� IU = I'rcf��rietc�r Prapert�= th.�r�c�r: Marn Faicker � �rr�yc�r�3titm x P�3rttti@i'ship �t�7t�� II} = - 2. BiJSTNESS INFGI�]IiATIUI�1 T'!`�czse atta�r]t c�cPciitio�rt�P eiarat�iZ�ttts!�+c��c°s as rtc;ecferi' to lrc cnne}rfc�tc cts possi��lcr. cz. Yrar� r�f c�p�ration in �iuntic�llc� 2 years t1. LiSt he1�G�� the number c�F part tim� an�i full tin�e employees. Fc�r pTer�vses o,�ccrlrt�Irition, tlre terlri "r°f�3�vivi,rc�c��" rtrrtt� i►�rl:�dr tdrl�se sfrl�f rcttii�t�� or !�'r�5in� fitcilitic�= tt}itFriv� tlzc Mr�riticE°flct �itcsitt�ss iac`rrtiotr. . . Prit�r tc� i��Iarch l at�, ?{1Z(] FT � PT 8 Curr�nt FT Q �'T � 1 Git=t� a��ric�P SUII1I1lc7I'V «F yQLll' L7L151IlESS ��7I"L7C]LlCiS, ser�ric��s, �z'c�E�•th histc�r�•, c��er�itions, iltzrz�ber c�f Ic�catinzZs, etc.) F'roducfs - Beer and H�rd Seltzers Services - Currently taproom oniy but very close ta distru�tion. Grawth History - We have max'd aur grov�th untN1 we distribute. Then we can grow mare Alfowing us to expand autsite seaiing will increase revenue and emplayees. C7peratians - Brewery Number af locations - 1 c�, Prc�vide i�iior�natinn re�arc�in�; ho�v ynur c�perafir�ns ��e bee�� imp�ctc� bti• t��e p��ndr�mrc�, �peci�ically hc�Lirs nt c��er�tion, �:m�lc}yee redtrctio�zs, �tc. Irlclud�� ant= stratL�;ies in7plemer�tec� tc� s�.zst��in t�ot�r busin�.ss The first month af Covid-19 we had to iake �veryone af the clock for a month. We appiied for th� PPP and recieved funds to bring emplt�yees back which help�d a little bit, 5ales are down and a�d only al6owed to do offsite saies it's been a struggle to get cans and shippir�g is �very expe�sive with long delays. e. Descri��e af the c�irrent �alclllS fOT' Ct'tiLlilliTl� U�7L'Y'�lfliil"lS f(]IIC]Y��ing the C�VID-l9 C1'1:�15. We are allawed to o�en patio for reser�atians only and taproam starting 6-14 We haVe went frorn 1 emplayee per shiff to twQ because of cleaning af Cavid-19. 3. GRANT RE[�UEST /1n�otint Re��ue5tec�i: � �00[} 4. FIIVANCING Please provide d��cumenksle��ic�erlce c�f c�t��er sources of stat� c�r fecieraI Funds ��our busizztss has been a�1�ar�ied «r ci�niec� durin�; tlze CC]VID j�ai�de�nic, as ap�licable, in�futiin�; Econo�ni� Injur�• Func�s, PPP, elc. a, ATTACHMEhTTS CHECK L�ST Please �ttacf7 thc: fnllo�t�it�g: 11} PrnnF nf adcii�css {i� �1t1s1r1C11I Stdt�FT7eili5, SUC�l 35: • [7i�V1t7L15 �'e1I'�5 c1TlllLlci� �1'(?SS 1"eVeTiLle • Aver��;c m��rlthl�� ;rnss revenue prinr ko C4�'ID-I9 • Projected mc�i�tlil}� �;�-czs� re��nue far the next three m��ths PLEASE D� NC)'I� SU131�tIT FINANCil�I. STATEhtENT'S [ZI�THEP SLTI3�TIT A SUnI�'!l�RY C�F TI �E INI�OI��11TIC7h1 I�EQL]E:STt�.D. C} I'rc�c7F �F expezzs�s to �e �aiei l7] 11�v�ir��il��enial letters — 5t6ite ac�d Feder�31 AssistG�nce Programs 6. AGR�EM�NT I I�'�'�' �`c'�'tit�° khat �11 infc�rmafic�n �rcn�ided irti iPiis ap�?licaticm is true and corz�cct ko t�°�� est c�f �n��lc�ur knot:�,�lec��e. I j L1'e authc�ri-r_� t1Ze� �ic�nticello EL]I� to �•��rify firzancial anc� c7tller inFnr�z�atio�l. I J ti'4�'e a�ree tn prn�•ide �ny adciitic�nal informaticaii �s iz��}' k�e requeste�i k�}' the ci��=. Thc undersi�n�d l�as r�:ceir.�ed tl�� f:DI�'s pnliry rE�;ardin� the pro�r�zn a�nd cc7n�plies ��aith all eli�;i'�ilit�' r�yiiireii�e�zts. F�urkl}er, the ��plicant t�ndc.rstands tliat funcis arc ��i'de�i c�n �i first-ccainc: fir5t sE:rvec� t�asis. 1'yPI'I..ICANT 5IC�NATUr�F 11PI'[..ILANT �A�'fL �T'rint}: William F eurt pa��: s-s-za2o Thc� �DA es re �ovc•r-�ra��e�rtit! cartify ratt�[ czs s:sch rl2rist ��ro�ric�t� pasl�2ic at:crss tc� p:t[�iir� �t��r« ir r•c�rc�iz�cs. Dnta rfc�°��xrr! [�� Ap�iiicnazt tn bc� }1�71�jJi}i7jIC fi�fir[� �I�idi�[.'i' St[it!' IRiL� 5yt[}IiL�Gi IJf S(1 Li�f'Sl�tdllfi�d nr' t�aezrkrr� Ui� A,Fa�rlicczitt. 5ec' 11•Iir:1:c•sata St'sttrtc�s, S�r.tioars 13.�t11, Stt[�ct. T r��td?. 3 I�QRTNEAN STATES POWER C�IMPAM' Page t uf 2 SERYICE A[1URES5 kCC�l1NT NUMBER � � � ��rg�� RUSTECH BRfWING COMPANY LLC 06J02/2020 � 1 R5 W 3fl� ST M6NTIC�LL�, MN 55362-8792 STATEMENT Nl1MB�R STATEMEM70ATE �� RE$P6NSIRCE BY YAT�lEE• - �l5/{15j2�2Q 51,0�07.43 t1llfLY AIIERAGES last Year Temperature 44° F �lectricity k4V� 188 5 ElecTr+ciry Cost $36 19 SUMMARY OF GllRRENT GHARGES {detailed eharges 6eqin on page 2} Electncity Service d4�05120 - Oa/04020 5f 64 kWh $1,007.43 �Gurrent Charges �1,0��'.93 QllESTIONS ABQUTYQl1R BILL? +��COUNT BAlANGE {Bala,ncerlesr�c�erna) Previaus Balance Ws af 04/i15 $1,044.33 See our websit�: xcelenergy.com Payment Received Onliree Payment 04�28 -$1,p44.33 CR Email usat: Custamerservice�xcelenergy.com Please Call: 1-BaD-48t-47i10 8alance Forward SA.�U Hearing lmpaired: 1-800-695-4949 Current Charges $1.OD7 43 ; Fax: 1-800-311-0�5� Amaunt Due (Gan�e�c1'apagarl �1,007.43 � Or write us at: ?[CEL ENERGY Pfl Bd]( 8 EAU CLAIRE WI 547�12-0008 � Xcel �nergy� INFURMATION ABULIT YOUR BILL Yaur safetyand the safety of our employees will alv�rays 6e Qur tap priori�y. We are prepared and are takin� steps ta ensure we'll eontinue to be there foryau to meet your ene�gy needs as COVfD-19 affects a growring numberof husinesses in our cammunities. Ou� team uvill beworking day and nightto deliv�rthe energyyflur business counts an. Learn more atxceler�ergy.eom,lcovid-19_resp�nse. Thank ydu foryaur p�yrnent. Convenience at your service - Payyor�r hi�ls electronically-fast and easywith Electronic Funds Transfe�. CaII us at 1-8�0-481-47D0 orvisit us at www.xcelenergy cam. F�Tl1RN BOTT�AA PIX{TIflN Wli}i YOIA[ PAYMH+IT • PLEASE d0 N0T I15E STRP�LES,TAPE OR FAPER CdJPS AECOUNT NIJMBER I DUE DATE 06f02J202a � $1,007.43 Please seethe 6ackafthisbill for more infcrrmation regarding the late payment oharge. Pay a n or hefore the date due to avoid assessrnentof a late payment charge. Make yaur cheek payatale ta XCEL E�kERGY ---- fri8ilffeSt IIf1E ------ i,�il��rFl�i�l�l��i'� �i�l� ili, nl, rii� �,�i ��ii 6,ilril�nrill� RUSTECH 6REWING C�HFANY LLC CID FSiI_L E3L1RT NlONTICELLO MN 55362-458fi 1 3 4 5 6 7 8 9 10 11 12 13 14 i5 16 17 1B 19 ZO 21 � T.3 24 25 2fi 27 28 � 30 i�,�lEii��l �i�l� Iri i�i� i�l� il�� ai1, iu�i„ii�iii�i[ril��ir� ill� xcE� En��cY �.a. Box s�7� MPLS MN 55484-94�7 32 5�,060220 �D�189�6829 []0��0100743�000010�743 �� Page 2 of 2 � SERVICE ADDRESS ACCOUNT NUMBER � �� IEnergy� RUSTECH BREWING COMPANY LLC 06/02/2020 � 105 W 3RD ST MONTICELLO, MN 55362-8792 STATEMENT NUMBER STATEMENT DATE � i � - 05/05/2020 $1,007.43 � 0.r F �C�IVT�FiUL 1�C�lJ� IBILL. Frc�m �ynf��hrc�r�iz�� #�illin� f�n� rrtulEiEile Icat:��i{�r3� tt� auC[a ��,��r, we car� h�l�, yau �.ustrarnKz� yc�ur er�ert�y �+=11 tr� �seti�r suit y�+�ur needs, Firrd out m�sre at xreleneryy.r..t_� iT1 r'�t,y�3pll, � SERVICE ADDRESS: 105 W 3RD ST MONTICELLO, MN 55362-8792 NEXT READ DATE: 06/05/20 ELECTRICITY SERVICE DETAILS PREMISES NUMBER: - INVOICE NUMBER: - ELECTRICITY CHARGES DESCRIPTION Basic Service Chg Energy Charge Fuel Cost Charge Sales True Up Demand Charge Winter Affordability Chrg Resource Adjustment Subtotal City Fees Transit Improvement Tax State Tax Total RATE: General Service USAGE UNITS RATE 5164 kWh $0.034070 5164 kWh $0.026048 5164 kWh $0.001950 47 kW $10.490000 0.50% 6.875% CHARGE $25.64 $175.94 $134.51 $10.07 $493.03 $3.60 $64.44 $907.23 $31.00 $4.70 $64.50 $1,007.43 INFORMATION ABOUT YOUR BILL For a n average non-demand customer, 69% of your bill refers to power plant costs, 14% to high voltage line costs, and 17% to the cost of local wires connected to your business. For a n average demand-bi I led customer, 79% of your total bill refers to power plant costs, 14% to high voltage lines, and 7% to the cost of local wires connected to your business. D�IV'T �ET ��,AME1l1ED� Scamrn�rs ca n spoaf ph�ne r�umlaers to �oa� like th� ca�l is �oi�in� frorn �as, If sorn�on� call� an�i thret,trns tcs turn �ff ynur �yr7wE.r i6 yr�t� ctnn't ��y immec�i�tefy, r�r i�sk.s Fnr yr}�ir �c:��sni riurrita�:s tt� reiu n�� ar� r�v�:e�ray�r�ent, ��ny u�� a�i�i �:h��k your ��csaur�t st�tu� u�in� fl+1y ,4�.i:ou��t, [�ur 7Ccel �nergy a�ao�ile ap�, or ��ll �fs at 8Q0,895,49�9. ,� C N 4ro ... pu .: N �m ror.J�$ �� 4 F� � Vi m� � Ap� �O � 0 I� M T� ��6 N 4 T� ^ry m � , O� � 4 O�i 9 0? V�, I� V V �� N V � �+I G� V �+I �n 4 � V �I � �I � N � � �t „�Y' W � N v�i m nm't � 4 4p Stp N O� � fi �IX� �i W T N� m m 1�- N b �O N N ar K m r� M vi N M vi H M M M in � O� �' � ry' N Si � M�� p��p N G� x `�, m T m� m�.j IN- ry V W N N .i Qi � �O .. v�i ~ m N O �p O N� . n p, - � 4 i r � V� N N '� M' � in �n M�n M M M M in � y m �t' ti q � N�� m i- � M OG S�p ca ij ~ G� -� �J �.p m �� f� � m�1' � � 1��- P� M ai' w m N �f � r" } q' N rJ G� c� m i- ~ [:i ci �i � c�n C+ 4 � m rq V �y m vy N ! Y � r N 'iT N � � m� `e; N N � ;= ro ,� o,' 4i N � g �� ; �. , N � ,o,, � ; `�', m a � �., ro � � � "' � � �o m' �, � m �, � �, � s �, p � ry _ �� m o0 r? � m'd' ^� ! iT �N my f N N'il' @ in 4 rm N � d in in �n �n C} N �G vNiA � � `� m� � ,l ry c� f rvm f 4 a�� 'h O W � V vi � 1' � C`Y � - ��^ � � �� m N m �'cf � ! m 1l' m Q m � Q m � V 6� N�in J vi a B � L.`. t: W cy. m� d � N f- � R �� a'I rJ r �m N v�-'� � a a �, � r � m � � � � � � � � � � � Yr �i , �'F m-� - m i r- - m T i i 4 v.; `a' a � a�C.', c4. 2� rn � rb' � a''$ rm � �[s' �i m o �v r M N�a i `t�r m ,�„ �v � � � � rv Ny � � � N y M L � Z � Z 2 a o - � ¢ E � u` E - G 2 - a 2 nJ' R E E E ij w z - 3 - � � � a j o �i i' �.L' C q Y2 � _ �d � � C � �n F- 4 - DocuSign Envelope ID: 5FDB13E8-A7FA-4D85-899E-765D471A7FDF Certification and A�reement THIS CERTIFICATION AND AGREEMENT made between Borrower and Lender dated APRIL 24, 2020 Borrower to certify to the following: a. Borrower acknowledges that if Borrower defaults on the loan, SBA may be required to pay Lender under the SBA guarantee, and SBA may then seek recovery on the loan (to the extent any balance remains after loan forgiveness). b. Borrower will keep books and records in a manner satisfactory to Lender, furnish financial statements as requested by Lender, and allow Lender and SBA to inspect and audit books, records and papers relating to Borrower's financial or business condition. c. Borrower will not, without Lender's consent, changes its ownership structure, make any distribution of company assets that would adversely affect its financial condition, or transfer (including pledging) or dispose of any assets, except in the ordinary course of business. d. Borrower certifies that they will use the loan proceeds for the purposes specified below. $18,500 for Payroll Costs and Payments on Mortgage Interest, Rent, Utilities and Interest on Other Debt Obligations (At least 75% of this amount shall be used for Payroll Costs) to Refinance eligible SBA Economic Injury Disaster (EIDL) Loan Number (Disbursed directly to SBA)] Borrower: RUSTECH BREWING COMAPNY, LLC oo��s�g�ea ey: B��ssob�a�s WILLIAM F. BURT CEO Lender: BANKVISTA By: DANIEL NYGAARD ,VICE PRESIDENT DocuSign Envelope ID: 5FDB13E8-A7FA-4D85-899E-765D471A7FDF PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET: BORROWERS The Paycheck Protection Program ("PPP") authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: • The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and • Employee and compensation levels are maintained. Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. Loan payments will be deferred for 6 months. When can I apply? Starting Apri13, 2020, small businesses and sole proprietorships can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders. Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders. Other regulated lenders will be available to make these loans as soon as they are approved and enrolled in the program. Where can I apply? You can apply through any existing SBA lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating. Visit www.sba.gov for a list of SBA lenders. Who can apply? All businesses — including nonprofits, veterans organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors — with 500 or fewer employees can apply. Businesses in certain industries can have more than 500 employees if they meet applicable SBA employee-based size standards for those industries (click HERE for additional detail). For this program, the SBA's affiliation standards are waived for small businesses (1) in the hotel and food services industries (click HERE for NAICS code 72 to confirm); or (2) that are franchises in the SBA's Franchise Directory (click HERE to check); or (3) that receive financial assistance from small business investment companies licensed by the SBA. Additional guidance may be released as appropriate. DocuSign Envelope ID: 5FDB13E8-A7FA-4D85-899E-765D471A7FDF What do I need to apply? You will need to complete the Paycheck Protection Program loan application and submit the application with the required documentation to an approved lender that is available to process your application by June 30, 2020. Click HERE for the application. What other documents will I need to include in my application? You will need to provide your lender with payroll documentation. Do I need to first look for other funds before applying to this program? No. We are waiving the usual SBA requirement that you try to obtain some or all of the loan funds from other sources (i.e., we are waiving the Credit Elsewhere requirement). How long will this program last? Although the program is open until June 30, 2020, we encourage you to apply as quickly as you can because there is a funding cap and lenders need time to process your loan. How many loans can I take out under this program? Only one. What can I use these loans for? You should use the proceeds from these loans on your: • Payroll costs, including benefits; • Interest on mortgage obligations, incurred before February 15, 2020; • Rent, under lease agreements in force before February 15, 2020; and • Utilities, for which service began before February 15, 2020. What counts as payroll costs? Payroll costs include: • Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each employee); • Employee benefits including costs for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payments required for the provisions of group health care benefits including insurance premiums; and payment of any retirement benefit; • State and local taxes assessed on compensation; and • For a sole proprietor or independent contractor: wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee. Does the PPP cover paid sick leave? Yes, the PPP covers payroll costs, which include employee benefits such as costs for parental, family, medical, or sick leave. However, it is worth noting that the CARES Act expressly excludes qualified sick and family leave wages for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act (FFCRA) (Public Law 116-127). Learn more about the FFCRA's Paid Sick Leave Refundable Credit online. How large can my loan be? Loans can be for up to two months of your average monthly payroll costs from the last year plus an additiona125% of that amount. That amount is subj ect to a$10 million cap. If you are a seasonal or new business, you will use different applicable time DocuSign Envelope ID: 5FDB13E8-A7FA-4D85-899E-765D471A7FDF periods for your calculation. Payroll costs will be capped at $100,000 annualized for each employee. How much of my loan will be forgiven? You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities payments over the 8 weeks after getting the loan. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. You will also owe money if you do not maintain your staff and payroll. Number of Staff: Your loan forgiveness will be reduced if you decrease your full-time employee headcount. Level of Pavroll: Your loan forgiveness will also be reduced if you decrease salaries and wages by more than 25% for any employee that made less than $100,000 annualized in 2019. Re-Hirin�: You have until June 30, 2020 to restore your full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020. How can I request loan forgiveness? You can submit a request to the lender that is servicing the loan. The request will include documents that verify the number of full-time equivalent employees and pay rates, as well as the payments on eligible mortgage, lease, and utility obligations. You must certify that the documents are true and that you used the forgiveness amount to keep employees and make eligible mortgage interest, rent, and utility payments. The lender must make a decision on the forgiveness within 60 days. What is my interest rate? 1.00% fixed rate. When do I need to start paying interest on my loan? All payments are deferred for 6 months; however, interest will continue to accrue over this period. When is my loan due? In 2 years. Can I pay my loan earlier than 2 years? Yes. There are no prepayment penalties or fees. Do I need to pledge any collateral for these loans? No. No collateral is required. Do I need to personally guarantee this loan? No. There is no personal guarantee requirement. ***However, if the proceeds are used for fraudulent purposes, the U. S. government will pursue criminal charges against you. * * * What do I need to certify? As part of your application, you need to certify in good faith that: • Current economic uncertainty makes the loan necessary to support your ongoing operations. • The funds will be used to retain workers and maintain payroll or to make mortgage, lease, and utility payments. • You have not and will not receive another loan under this program. • You will provide to the lender documentation that verifies the number of full-time equivalent employees on payroll and the dollar amounts of payroll costs, covered DocuSign Envelope ID: 5FDB13E8-A7FA-4D85-899E-765D471A7FDF mortgage interest payments, covered rent payments, and covered utilities for the eight weeks after getting this loan. Loan forgiveness will be provided for the sum of documented payroll costs, covered mortgage interest payments, covered rent payments, and covered utilities. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. All the information you provided in your application and in all supporting documents and forms is true and accurate. Knowingly making a false statement to get a loan under this program is punishable by law. You acknowledge that the lender will calculate the eligible loan amount using the tax documents you submitted. You affirm that the tax documents are identical to those you submitted to the IRS. And you also understand, acknowledge, and agree that the lender can share the tax information with the SBA's authorized representatives, including authorized representatives of the SBA Office of Inspector General, for the purpose of compliance with SBA Loan Program Requirements and all SBA reviews. DocuSign Envelope ID: 5FDB13E8-A7FA-4D85-899E-765D471A7FDF PROMISSORY NOTE Principal Loan Date Maturity Loan No cau i cou Account Officer Initials $18,500.00 04-24-2020 04-24-2022 DN References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "��" has been omitted due to text length limitations. BOPPOW@P: RUSTECH BREWING COMPANY LLC 105 W 3RD ST MONTICELLO, MN 55362 Lender: ear,kv�sta BankVista - Sartell 125 Twin Rivers Court Sartell, MN 56377 (320) 257-1600 Principal Amount: $18,500.00 Interest Rate: 1.000% Date of Note: April 24, 2020 BORROWER SBA LOAN #:.-. PROMISE TO PAY. RUSTECH BREWING COMPANY LLC ("Borrower") promises to pay to BankVista ("Lender"), or order, in lawful money of the United States of America, the principal amount of Eighteen Thousand Five Hundred & 00/100 Dollars ($18,500.00), together with interest on the unpaid principal balance from April 24, 2020, calculated as described in the "INTEREST CALCULATION METHOD" paragraph using an interest rate of 1.000% per annum, until paid in full. The interest rate may change under the terms and conditions of the "INTEREST AFTER DEFAULT" section. PAYMENT. Borrower will pay this loan in 18 payments of $1,041.13 each payment. Borrower's first payment is due November 24, 2020, and all subsequent payments are due on the same day of each month after that. Borrower's final payment will be due on April 24, 2022, and will be for all principal and all accrued interest not yet paid. Borrower will pay Lender at Lender's address shown above or at such other place as Lender may designate in writing. INITIAL DEFERMENT PERIOD. No payments are due on this loan for 6 months from the date of first disbursement of this loan. Interest will continue to accrue during the deferment period LOAN FORGIVENESS. Borrower may apply to Lender for forgiveness of the amount due on this loan in an amount equal to the sum of the following costs incurred by Borrower during the 8-week period beginning on the date of first disbursement of this loan: a. Payroll costs b. Any payment of interest on a covered mortgage obligation (which shall not include any prepayment of or payment of principal on a covered mortgage obligation) c. Any payment on a covered rent obligation d. Any covered utility payment The amount of loan forgiveness shall be calculated (and may be reduced) in accordance with the requirements of the Paycheck Protection Program, including the provisions of Section 'I'106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (P.L. 'I'16-'136). Not more than 25% of the amount forgiven can be attributable to non-payroll costs. LOAN PREPAYMENT. Notwithstanding any provision in this Note to the contrary: Borrower may prepay this Note at any time without penalty. Borrower may prepay 20 percent or less of the unpaid principal balance at any time without notice. If Borrower prepays more than 20 percent and the Loan has been sold on the secondary market, Borrower must: a. Give Lender written notice; b. Pay all accrued interest; and c. If the prepayment is received less than 2'I days from the date Lender received the notice, pay an amount equal to 2'I days interest from the date lender received the notice, less any interest accrued during the 2'I days and paid under b. of this paragraph. If Borrower does not prepay within 30 days from the date Lender received the notice, Borrower must give Lender a new notice. NON-RECOURSE. Lender and SBA shall have no recourse against any individual shareholder, member or partner of Borrower for non-payment of the loan, except to the extent that such shareholder, member or partner uses the loan proceeds for an unauthorized purpose. INTEREST CALCULATION METHOD. Interest on this Note is computed on a 365/365 simple interest basis; that is, by applying the ratio of the interest rate over the number of days in a year (365 for all years, including leap years), multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under this Note is computed using this method. PREPAYMENT. Borrower agrees not to send Lender payments marked "paid in full", "without recourse", or similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender's rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes "payment in full" of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: BankVista, 125 Twin Rivers Court Sartell, MN 56377. INTEREST AFTER DEFAULT. Upon default, including failure to pay upon final maturity, the total sum due under this Note will continue to accrue interest at the interest rate under this Note. DEFAULT. Each of the following shall constitute an event of default ("Event of DefaulY') under this Note: Payment Default. Borrower fails to make any payment when due under this Note. Other Default. Borrower fails to comply with any other term, obligation, covenant or condition contained in this Note or in any of the related documents. Default in Favor of Third Parties. Borrower defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's ability to repay this Note or pertorm Borrower's obligations under this Note or any of the related documents. False Statements. Any representation or statement made by Borrower to Lender is false in any material respect. Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going business or the death of any member, the insolvency of Borrower, the appointment of a receiver for any part of Borrower's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any banla-uptcy or insolvency laws by or against Borrower. DocuSign Envelope ID: 5FDB13E8-A7FA-4D85-899E-765D471A7FDF PROMISSORY NOTE Loan No: - (COntlnued) Page 2 Creditor or Forfeiture Proceedings. Commencement of foreclosure or forteiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or by any governmental agency against any collateral securing the loan. Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any of the indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any guaranty of the indebtedness evidenced by this Note. Insecurity. Lender in good faith believes itself insecure. LENDER'S RIGHTS. If any payment is not made when due under this Note or any other event of default shall occur under any other agreement between Lender and Borrower, Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest immediately due, and then Borrower will pay that amount. ATTORNEYS' FEES; EXPENSES. Lender may hire or pay someone else to help collect this Note if Borrower does not pay. Borrower will pay Lender that amount. This includes, subject to any limits under applicable law, Lender's reasonable attorneys' fees and Lender's legal expenses, whether or not there is a lawsuit, including reasonable attorneys' fees, expenses for banlvuptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), and appeals. If not prohibited by applicable law, Borrower also will pay any court costs, in addition to all other sums provided by law. JURY WAIVER. Lender and Borrower hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either Lender or Borrower against the other. WHEN FEDERAL LAW APPLIES. When SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA regulations. Lender or SBA may use state or local procedures for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law. CHOICE OF VENUE. If there is a lawsuit, Borrower agrees upon Lender's request to submit to the jurisdiction of the courts of Stearns County, State of Minnesota. COLLATERAL. This loan is unsecured. SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. Borrower may notify Lender if Lender reports any inaccurate information about Borrower's account(s) to a consumer reporting agency. Borrower's written notice describing the specific inaccuracy(ies) should be sent to Lender at the following address: BankVista '125 Twin Rivers Court Sartell, MN 56377. GENERAL PROVISIONS. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. In addition, Lender shall have all the rights and remedies provided in the related documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to pertorm an obligation of Borrower shall not affect Lender's right to declare a default and to exercise its rights and remedies. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. The obligations under this Note are joint and several. SECTION DISCLOSURE. To the extent not preempted by federal law, this loan is made under Minnesota Statutes, Section 47.59. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER: RUSTECH BREWING COMPANY LLC By��oIo�'�s��g��e�a�,Je�y: l/�Ll, /�l ��a€'��'°°� BURT, CEO of RUSTECH BREWING COMPANY LLC LENDER: BANKVISTA X DANIEL NYGAARD, VICE PRESIDENT LaserPro, Ver. 20.1.0.034 Copr. Finastra USA Corporation 199], 2020. FVI Right; Reserved. -MN N\CFI\LPL\D20 FC TRS052 PR-113 DocuSign Envelope ID: 5FDB13E8-A7FA-4D85-899E-765D471A7FDF DISBURSEMENT REQUEST AND AUTHORIZATION Principal Loan Date Maturity Loan No cau i cou Account Officer Initials $18,500.00 04-24-2020 04-24-2022 DN References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "��" has been omitted due to text length limitations. BOPPOW@P: RUSTECH BREWING COMPANY LLC 105 W 3RD ST MONTICELLO, MN 55362 Lender: ear,kv�sta BankVista - Sartell 125 Twin Rivers Court Sartell, MN 56377 (320) 257-1600 LOAN TYPE. This is a Fixed Rate ('I.000%) Nondisclosable SBAExpress Loan to a Limited Liability Company for $'18,500.00 due on April 24, 2022. PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for: ❑ Maintenance of Borrower's Primary Residence. ❑ Personal, Family or Household Purposes or Personal Investment. ❑ Agricultural Purposes. � Business Purposes. DISBURSEMENT INSTRUCTIONS. Borrower understands that no loan proceeds will be disbursed until all of Lender's conditions for maldng the loan have been satisfied. Please disburse the loan proceeds of $'18,500.00 as follows: Amount paid to others on Borrower's behalf: $'18,500.00 to RUSTECH BREWING COMPANY, LLC Note Principal: $'I 8, 500. 00 $'I 8, 500. 00 FINANCIAL CONDITION. BY SIGNING THIS AUTHORIZATION, BORROWER REPRESENTS AND WARRANTS TO LENDER THAT THE INFORMATION PROVIDED ABOVE IS TRUE AND CORRECT AND THAT THERE HAS BEEN NO MATERIAL ADVERSE CHANGE IN BORROWER'S FINANCIAL CONDITION AS DISCLOSED IN BORROWER'S MOST RECENT FINANCIAL STATEMENT TO LENDER. THIS AUTHORIZATION IS DATED APRIL 24, 2020. BORROWER: RUSTECH BREWING COMPANY LLC o sg aey: By. �.�, � WI'L�� BURT, CEO of RUSTECH BREWING COMPANY LLC LaserPro, Ver. 20.1.0.034 Copr. Finastra USA Corporation 199], 2020. FVI Right; Reserved. -MN N\CFI\LPL\I20.FC TRS052 PR-113 _ �',' �.'�� ' � -' .� ' �� M(3N�TICELLC� EDA .� � �C��1�1�+C � sn��L Bu��r��ss EM�RCE�c�r ��.ar��r - - AP�LICATIfJN 1. CO�NTr�CT I1�TF�RM.�TI�I�T l.t�g�l I�Eaa�se c�t �3usin��: _Ef�v�tad UVelinBSS LLC 'f'rt�j�ct 5ite A��Idr�s�: a 13 IN Broadwa St. (suite a crity ! S#�te I Zip: M�nti�eilo, M�'J 553�2 -- C.c�nt�ct Pcrscm(�j: Shiloh Thomps�n �usincss E'hnnc; 763-7fi0-�9$2 F:r�l�i1: I Icsmc �'hr,nc: Ch�*ek CUsiE� �_ Prc,�ric�tc�r � Corpc�ratian - F'artncrship 3=ed�r�i Il] � - St2�te iC� � - �rr�pe�t}� Qwner: Cindy H�atCJn frQm Preferred Tltl�} 2. �3USI�►►IESS IIVT�OR:4��'TI[3IV I'teuse uttuch r�1�itYvnul rlvettmc�rrtsl�puges as ts�eeded tQ be com,p�'�tc as �c�ssib[e. ,�. Years nf n�ratir,n in Mczn�iCeZlo 2.� b. Ust be�ow khe number c�f gart tisne and �iall ti�ne �r�ptoyces. For ��rrpdses af calerr��tran. if�e tcrrr� "crrt�t��c�s" rrrAy incitrde thdse sl.a,�"f rrniin� nr �e�:�inEq fdci�atr't� �vifhin t1�re h�f��ntir,el[i� bt�s�lat'S5 ��]t'�Stc]iT. Pri�r �� Vi�rih 15�, �tl�?� Fi` � TxT Ctrrrent Ff , F'T , 1 c. t�i�e a hricl' Summary af �'C�III' �1i1S3i1�.titi ��iFU�S�Ii[:ES, �t�'iccs, gr[��'[h hi�Fc�rS°, �p�ralinn�, numbcr �f 3ocatiot��, etc.} Efe�atetf Weflr�es..s LLC is a srriall holis#ic c�re clinlc a�d re#ail star� thai �n+'�s aur lvcal �omrrxaniEy. iN� ��cialize in sa�e a9�err�ative heal#�-� care, �u#r�tion, and free e�fucation for e��x'yane from our yr�farrts tca our eldtiriy. Altl-eeugh, w� carry a nice variery of supplernerrts our busin�ss model is �ery �ifferent from a W�lgr�ris t�r GN�. Fsr exar�le we atrly have vne locai#ion, and we ��rry na syr�tiietic v"ttamins, pawders, or low quality buli� supplerr�ents. In f�ct, w� carry onfy wtao4e iood suppi�rr�ents, ciaan �o�ed m�,erals, orgartic l�ert�s, ar�d hamefli�thy; m�ny of th� c4ming �r�m Ic,ca� Mhl marturfactu►�s ar�d a�l a# ttrem b�irrg made in tl� 1JSA_ This �o�r�s 23 a co5t ta us 3s the sheFf E'rfe �s rclati�ely shvrt in eari'ip�ris€�r� and to ke�� aur prvdu�ts �fi�r�iable. You cart �e assur�d t3��t we 6��arge the s�me price as what you �an sourc� an�ine. Last. with �ir,g a Cert'rf�e� H�alth PractitEorser we ar� able to �#fer products vnfy avai�at�i� thrc,ugh a F►e3lih �raetrtion�r. ;ervic�� v�#erecf �re: k3i�iS�an $�ti, Evox Emotinnaf therapy, ref�exology 4s��arade �t�yj, rs�assags {sepa�te err#itY1, #onic Cleanse C�atc�x. irrlrrarrec4 therapy, natural hea�t#VnutritFor�ai Gau�selin�, a.nd edueatiana! cFasses. VYe opened our doors 011Q1I2n18 and s�nce fhe� we have seen s�stained growth. Qt.� t�usi�ess g�wth history: �018 #axa�aie s�les; �4k - totai sai�s: 3�k 2(�7� ta�cable sal�s: 72k - tvtaT sales: 89k 2��D ta7catal� sales: 33k - tt� date (27k af th�,t be�� urrtil Rpril} d. Prc�vi��e �nfvrma�ii�n r��ardin� IYow yvur operation� havc tr�en ir�pa�ted lay the p�ictiemic, s�xcific�lly hours of oper�ti�r�, em�?ic�y�e redu�tions, �tc. Tn�lucie any strateqies Ern�iement�eci ta sus4ain yt�ur b�sir��s� I have hasi se�eral part time employc�s s�n�c� t#ze opes�irx,� hgw�V�r, due to products on �ur �elv� 9 have� alway� �aci to k�e pra,ser�t due tQ li�b�lity of prac#itEoner ar��y I�nes. August of 2�119 I was a�{c ta hir� a#ull time herba3ist ta wvrk in the stare frvnt alkawing m$ to work primarily with patierrts. We war� c�n tr2Gck 3a �iring anc�tt��r' Pa.rE-tirr� s#ude�tt e�tployea #o�' weekend5 art�l aitPr scho4� P�c�urs. Uur bt��inPS$ ho�rs at that time was 10am -7pm Mondays, i �-,Spm Tue�d ay-Friday, and 9�2pm �n Saturdays. Since t�e ko�kdown ard�s frc�m COV1D �9: i have h�d tca cut fi�ours to 12-5 rv4c�nday-�r�day. Reduce my ernplpye�s hours h`vrn full time tv 2�-25 hot�rs p�r weelc. I have cashsed in my ��}i k to opsn Elevated VV�ilr�s, fund my hu4lci ast, arrd first y�ar In business. l appl�d for the PP� program �nd was �assec4 up �in the appiicatian line. l�rn �,,.��min� it was due ta tk� �or�v reqis�fed amount af oniy 3.F3Q0. My sa4es 3ne down an[� I am b�ind vr� re�rt, crecii� carcf btlfs, and machine/equipment I❑ans. My savings is afl useci up. l am just no� a�l� to maf�e �t witYs the im�ac# of C�VID and 5ummer sCvvv dvwn and i have na rnore fnar�cia§ resauro� to draw from. k ha�e �e�n tr-}ring ta sourc� �a�eelarFce iRterpr+�ii�g wo�k to keep the bills paid. This wvuld b� feasit�4e rf#h�r� was worfc ava�lalale but summertirt� is usr}+ sknv for tl�e irt'terpreting field as well. There �re j�.st not ava'sl�b6e jot�s. e. D�scribe af the current �ians for resurnin� operaEions I'r�ltc�win� Ehe ['nVID-�9 crisis. ih�s grant woufd allaw me to pay t�� rerri and cst+ch �ap on bilfs whiie icc�ping rr�y �snpic�ye�e warkir� urttil i3eo�le �re again +^esurr�kr� nomsal schedi�4es �nrJ shr�ppinc� �ahn�. It wQiild x9lraw ��f� �Par� fa�r o�tr f�t nilies arsd elderly corr�nun+ty memt�ers to �ame and get tt�ir healiF� n€�ed� mei wh31e Stc�l�is and �t#�er' cl�nic�e are ❑caly acc�pting "rrecessarylsick" appointmer�ts. Th�s is a critica! #irrie for �ur ima`rnane�campmmised and our elderly. �t�r work keeps aur communrty rr2emb�r's t�e�lth opiimal sa they � have a charrce ta fig'Yr# of� vin�:s and viher c�nnd�tfons. I am a mem�er of tY�e Ghamber c�# Comrr�ce �rrd i feel they have �pparted small busir�s gr[�wti� so wCtl �Cre f�t Morttic�llo. My cammunity naeefs us mor� than eves- and I plan tn be �tt�m! d just r�eeci tcr s�ar�ive the summer. pleas� he1� me malte this �ossibtia, ! see tt't�t on 'the �ppficat�on q�alifcatians that t#�is grarst is fvr b�.rsine�s af 2�mplqye� vr rnore. I #�ave �dded myseh# as an �rr�rpfoyc-�. I an�y t�ve ane employee on payrol� at presen# b�t being an L�,� f w�.s abFe tfl draw ir[�m the business ta P�e6p pay my needs w�#h a�rt �tavi� ta pay my5eif as an em�€ay�. Non-t�e �s I depenC o�s t�tis i�usiness f�r rr�y liveiihqod �nd wark �t day in 3nd day out un sh� job. it 'ts my job �nC! I�sk that yvu cnnsicier ara eatGe{�tiors t0 tF� r�tla. �•� On A�ril 1�, 2�� at 12.2� PI�I, Alien Sr�e�osky �AS�egosky@sherlaurnestat�eb�r�k.com> wrmte: H� �hilt��, �r�fc�rtu�ately #he PP� �unds ran c�ut ti�is macnmg bef�r� w� ��u�d get eve�y�ne s�,�mitted. Cc�n�ress�anal 9eacier� a�� meeting w:�� th¢ Treasur�+ Q�partment t�r�ay i� �n effor� tc� se�u{� �n�ther $25QE3 fc�r th� program HC�ref�fly t�hey �re sisCC�SSful, 8nd i� sr �v� vs�ill Contint�e Su�imittir�g ap�rieatinr�s tr� tne S�A. T�ar�ku, Allen �n��sky Camrxtprr.aa! Loan C�fFi�er n€nrtLS #'�6�3?3 She�rbumc \• rrr j-•ins ?�:�{7 Sr�.rb:.irnt �,v;t �-�. �fJ}S �G4 �+EGISHf. �V'iiV 5s..�1� 7F3-2�� -051 � {�ffiw�j ?��i-�f�i-��t15 (4�xi w�1r,4,uh��fr��rrt :�+u�•_;.�,nk.cc� i1�fs �-rnxir (ir�clr�drng attachmer+�s) is covere�byfh� Ft�ctranir. �:cur��nur�icxtians F'rrv�wy�lCt, 3'8 U.S.+C. §� 25Tt�-?. s?1, is c.�r�T1r�"r�r�tf�zl and may b� Jeg�lly pr��rleged. 1f you are not the rrr!er�eier� ref:rpi€�nt, yvu ar� herabyrrat�f�cd thai aa�y r�tr�ntion, di5s��in�tiara. diSfriF�utipn, O� CQ�7Y+17g o( �l`1is C�mmllrr�'Catlon is �aric:fy F�restrrt�ited. Fm�fl rs r,r�i 3 Sa#� lr��tsri7�ssi017 m�di� �r�d shauld nvt ta� used to commurrrc�r� confidenzi�l,nPnrmaliar�. If you elect to se�C or r�cci�c rnfarmatror� vra ern�r7. Sherburr7e S[�te Bank c�nnnt essure il� sec;urity Hrrd wiJl rrat t�s liable it i# is intercepted or vr'evver� t�y �rra[h�rr ��rty !3y C�rltinuirtg tr� i�sr� s-��r�r�l, y�rw ,�ra agreaing ia 3GC��f th;s 17Sk. FI"+Of7]; ��1ifi�h Tt1C7R'�C,`:s:'� 5�r�t; �d'�edn�5day, ��: � I � , =" �'='r: t: 1. � P�� T1:1; A�I�r� �reg�sky �ASn�gask��ar:`:;':)l;Ff'a=�,`��t•�._�j�lr�: �:�y:'�l= Subjec#: ��? I�PP ?nc� try ��li�. ��, c�ec�inr� in ta �ee wh�t is g�iny orr wi�h ihis �PP pr�gr�m. I�rau�n't hear� f��rv� �ny�yr�e P��nt�um �YI�atBr�, �nc� _:�_.� �� fY .�r f � � r. .f tV .� f.a r ��a 1 i.� e I.� i. . -__ - RU BC7?C 912$ MINNEAPQLlS MN 55d80-932$ �8�01332-3332 �ax: {612)-373-�3 RETlJRh1 SEFtVICE REQUESTED Webs�te' wv�rw.premEu�wate�i.�m 11�C3NTHLY INV��CEIST�ITEMEfVT �,p�,C�' _-_ �EF�'tl`.�,'•^'1A:!1L1t1 o,� o;� �_T - � � �� aiGrw�rlcrdc r�[� DArE P,AF^ .....=RNr.I�t�:Pk�cx�.-i��i —�.n�in�M1f` � ' o�f�a,r�o2o , , �E�£V�T�G '�`,'�LL�ESS 04 r 3s�l�420 a��3.'�% IAOiC€CH€Ci(5_PAYA$LE'f0. A.4iC]U'wT � PF#EMft]M WA'�ERS iI�C �'��•�5�� ='`� P S� '?� -SvR-Al�t �-�"i9 55 — .� ��e�,�ii��E��,�:�i�ll'Ii�11��1�E��li<<G�:�IIIi��,a��i��i��Ew ,•• , �,i,��+i11"!l��i�t,iu,�i,irF4nill�il�� l��tl�,�.�.�,.� ,'1. ...•.,••• .............<...•".Sf�lGLP PRE�'11UM W►�TERS IlVC E��VATE� WELLNESS PC� 87x 932�3 t�3 W BRpADlN1�Y ST � M91�I�EAPC7LIS Mhl 55484•9�28 M+L7�i�"ICELL[� MiV 5536� � . F7AC.w1 dhtl'4 q�F:I.afi1W TNPC �f4AL�tl7P.�_1h(1.i.lYC.a lP pAYUCAIa' �_� �r � ty �� F�� J . C !TY [3F -� �I�nti��ll� 1. CCINTACT INFQRMATIC►N 1VI�P�TICELLC3 �DA SMALL BUSINESS EFNERGENCY GRANT APPL��ATI�N � Legal Name of Busi�7ess: � r� � � � �C'1 � � Proj�ct Site Adelressl f I ��'` �/y �JGCy C.�,` Cc i� �� _ �. � 4 , � . .. C City J State 1 "Lip: Con#act Persnn�s; Brasine�s Phc�n�� Hnrne I'hane��i � ` f � � ' �� ' �' CheCk Q�te: � Propri�.it��r Cr�r�sc�ration I'artTlc rshi� F�d�•rrai II7 = 5tafe IIJ Pr�pertv �wner: h C�1 � C'�� . � 2. SUSINESS INF�RMATIDN I'�ec�se attR�h �tdr�rtior:al �tac:rr�:e�ttsl��r�ges cts ��eer��d to i�e ca�n,�alete rts ,�assibre. a. Y�ars of r�peratinn in MUnticella ��'�� i. List lhela4ti� thc: nurnber Uf part time a�}d full time er�nple�yees. Fnr�r�r�rnse�s nf c:rrlct�lr�itc�rt, i{�+.' terru "c°a�r,�lna�t�cs" ri�ai� i��rdudc t)tc�s�� sfrrf�re►�tirt�,> r�r lrrt�iir�,� facilifics ti��r�lrira t)z� IVIc�►rti�elfr� I�:rsii�ess ��7crztiorr. � Prior ta 1'�Iarch 15�h, 2U2{} FT t-�_ PT Current FT P�` e. GiVe a brief summary af your busir�ess �prc�ducts, services, growth h�stQry, oper�tions, number �f l��ations, etc.j 1 � � l Y�-��. � � �. � ��1�`� �i �'1 i�t�� U '[ �� !` �, � � �� -�. �-�.� �� ,� �. S� �l ��' 1� � l � e.r� �. � �e. � � � � �-�,�. �� +�'�`� r� � , � � � � �� r� `� �'C � �.o n�! � � � �lC'� � � 1_ �-� �� c.� � �� ► I �, J in � �2.�. ��` �` t� ��G 4� e- �'.� �Y1 C� S� :j � c� -J � � � �� av � ��.} ��.�. r�. I'��e��ide information r�:garding how yvur vperations haWe been im�?acted 6y the pandemic, specificall}F hours of �peration, em�lc�yee reciu�tians, etc. Include any strategies implemented to susiain �rc�ur business �e��-�. �o�l'�, � ��--�-1�� u �.1 �'�w p �� n , `��r 5-�-� � � r-,� �; �-� ---�, �� 7� � f 1}�] �j � � l�+ �G n�, ��t-'r y �T� �z ��c�. �-�,�ih�. �1C� �� ; �� C � y�� f�a�� - � �,'�c.S �� e � � +� t►+��r� � �c'� �1n � e3 n C ,�� 1 � . . `�, ��.�� l.�Q��, � C1 �7 � V� C,}.�� , 1 �`� •`�-, � �-� � I� e� m G ,�� , n� 'C�- � �V C� r' � r �'1 �j �n �`� i J � �Y'►� � C7 u P:,, � � ' � t e. Desc�ibe af the eurrent plans for resuming o�eraticzrts fc�llow�ing the CC7VID�19 crisis. ��, n �cy��r d ��+�� r �� ,� . � � } � � � � � �t � /Yl, c�!"1. � �n�� -�, �S �� , �'1� � � � �'�,�C'C, r-, .� �. S ; �'.� �� . ��r� } � � � � � �c �� ) �t �-�.- � ray� m� q� � �i '� �� e � , � � � � �ry � ��.� �� -��'!1� �-I��,�,, � S� � Gn � -�� .� C� '�'e �C� � G,, � 1� � �, �14 SS �l � �`�o � � r � � � s � ��r,c�; � �.� �� S ', � ' �� 3 �.�'�]�+ �� l�'1 �,G �..-� �� L " � GRANT REQUEST Amvu��t Requested: $'-�d� FIIVANCING Please pro�ide d�cum�ntsie�idence o� other svurces of stat@ �r federal funds yUur business h�s been awar�ied or de�lied cluring the CflVID pandemic, as ap�licable, i�lrluding Econc�mie Injury funds, PPP, etc. �. ATTACHMEN'I`S CHECK LIST P�ease atta�h the follo��ing: A) Proof of actdress B} Finar�eial statements, such as: Previous year's annual gross re�e.nue A��era�e mc�nthl;�° gr�ss re�=ei�ue prior tQ C�VID-19 Proj�cted montl�ly gross re�enue for tlie nex� three mo�lths �'LC�ASE DQ NQT SU8I�IIT FINA�ICIAL 5'�'ATEi4'T�NTS RATHER SUSMIT A SUMMARY DF 7HE INF�RMATTL7N R�QU�STEQ. C) Pr�c�F �f exp�n�es to be �aid � D) F�wardldenial Ietters — State and Federal Assistance PF�c�grams AGIZEEMEI�IT I/ We cerfify #hat all informati��n }�rovided in this appli�atian is true and �c�rrect to the best of rny��our kno��ledge. I J We autharize th� Monticello EDA to verify finaneial and otller inforrrtation. I J We agree to pravide any additicanal infarrnatic�n as may be requeste� by the city, The undersi�;netl has reccived the EDA's pc�licy regarciing the program and complies vvith all eli�ibility requirements. Further, the applicant undErstands that funds are a��arded on a first-come €irs# ser��ed basis. APPLICANT SIGNATURE � APPLICANT NAME (Pri t): � D�TE: � 7'7ze EDA i r� gc�ver�z� exrta! e3:titf ca�zrt as s�rch �i2ust ��rovide �1r�UIae ar�ess tn puUlie datu ft receives. Dafu �eerated Uy Applirax�f fa Ue �ao��rrUlic rtaf c� �t��rter Stc�te l�txu shoai�r� i�e so c�esigr�atert o� inarke�' U_y Applicarr#, Sre Mr`�rriesotu 5tatastes, iectzo�rs 13,591, Sulyd. � ar�e� Z. �� as�- �� c � � � � �-�--�� -� � � � l� �� - �� , c� �T � � u"' � r 'C�� ,� � ;� t�} ��`�i C� �- � � J � �� t �-� � �� n��►� �� K �� S �''� C� r1� � :� � �. �� l �S ��.��, � �� c��'�C� �,� � �--n��, � / � F,pn� �7, �01 S Invo�ee Nurnber Account IVumher Se4uriky Code: Service At 141 E�RUADINAY 5T �T� 2 SB MUNTI�I�LLD MN 55362-9322 Con#act t.�8 Ruestions abvut your bill ar services? Vlsf[ SpecTrumhusPn�s} nef or call £S(3fl 31d 7195 Summa s�,�� r�,m n�cr�r�a mrou�n �as�asrzs rY d�r�� ,� �,�+�r �� Paymenfs Recei�ed -Tharrk You' Rerr�aining Balance Specirum 6usiness'" Intemet Partial Mc�nth Charges Current Charges 1u4 38 �a.ao 59.99 -1 %.15 $42 84 YDVR A[1 T'D f�A Y W7! Z BE ,PIROG�SSEd d5/i 81'f 8 Tntal f3ue by Autv P�y 542-B4 Thank you fvr chonsin� Sp�clrum �usiness. We appreoiate your prompt pay+nent end valu�e you as a customer A,uta Pay - Th�nk you (or stgn�ng up for au#o pay. Piease note yaur {�ayme�st may �ae dra(t�d and posted to your Spectrum Bs�siness ac�ovnt the day after your transacti�an is scheduled to be processed by your ban k Auto Pay �lat�ce SPECTRUMI BkdSIf�ESS NEWS NOTE. Taxes, �ees and Claarges lisien in tY� Summary anty apply to Spectrum Buskness TV and Speetrum Business Internet and are deta�led on the tolfowing page Taxes, Fees and Charges tor Spec4rum Business Voice are detaded in the 8illing 'Iniar�nat��n seGtion. Specirum Enterpr�se Cnmmercial Terms a[ 5erv+ce have cl�anged. The new term5 may be viewed at n'tp5.iienter�rise spectrum cam and rnll he effective May t, 20i8 For exesting Spectrum Enierprise clients C?qn't seill� iar Sad Business. Re1YabPe TV is Goad for Business. Get aver 45+ kop channels and the service ta keep your Cus4Umers happy. Call 1-855-7F>5-8858 ta get affvrdable, reliable TV service for your business taday� Page 2 of 4 Apr�t 27 2�18 i_I� �5 SJ�3:i5i3�'Z r'.J��:'f5'i�C;'. ��J lnvaice Nurnber Ac�ount Numb�:r 5ecurity Cade. � � Prevraus Balance � p4 gg Credit Card Payment C14117 -1 {id 98 Remaining Balance S�.i10 Payments rese�ved aFler a4121118 will appear pn yovr nex! bill. 3errrice fram 6510T11$ thrsru�h DBID8�18 A ' Spe�trum ��rsiness Internet Pius gq gg Includes: YVeb liasling, C�oud Backup and [7eskto�p SeGurity Spectrum Business Internet Plus Diacnunt -� {� :�peclrurti Busrness'�' internet 7otal � �g gS . . ,, Spectrum 8usiness 04122-�5/p5 -4� 49 Sb f'lus S8�.99 L�4J22-4a1C16 16 UO Spectrum Busmess �64122-05ii76 42 49 Sb Plus $59.99 12 Mos iD4�22-C}�106 -12 54 Spectrurn $usiness Voice 04126-fl5106 -1 & 3d 5b Vahc� $39 99 D4126-OS�O6 3 F�5 Part�a Mqnth Charges Total -517 15 Currenf Char es g,�y,g�} 7nta! l3ere by Auto Pay gy2,8q . . . Tax and Fees - This statemenk reflects the current taxes and Fees for yaur area (includirsg sales, excise, use� tsxes, etc }. Tnese Caxes and fees may change uvithout notice. Visit spectrum netrtaxesandfQes �or rmore information T�rms 8 Gor�ditians - 5pectrurtt's detailed Standartf terms and cartditipns fflr ser�ice are lopated at spec[rurri camlpfllici�s. �pectrurn► eus�rv�ss ConteCt Us Questic�ns ahout your biil nr services7 4risit spectrumbusiness.net orcall 8�d.3�4.7195 Ur„a q14� tiG RF 27 ps?!l201'J NN��1F;hN*Jhr q1 ;706P14 i]p2e The following taxes, fees and surcharges are inclvded in Iheprfce af Ihe app9icable service • TA}(E5. 5RLE5 TAK $2.68, STATE �911 SURCliARGE 5D 95, FEES ANl7 GHkftGEs: FEt?ERAL UNIII�RSAL SERVIGE FL1Np 51 33, STATE REGIJLATQRY FEE $Ci d5. Past Due f�c� ! Late Fee Rerninder - A late fee will be assessed Par pasi due cnarges for service. frsst�fficient Funds Payment Pnlicy - Charter may charge an insuF�ici€nt Funds prpcessing fee tor a!I retutned checks and hanikcard charge-hacks. If your check, �ankcard (debik vr creditj charge, ar ott�er instrurner,t or electranic trarasfer transaciican usetl to pay us �s disfi�arsored, refused or returnetl ipr arty reason, we may electroniqalEy debit your accaunt fpr the payment, plus an irr5ufficient funds processing fee a� set iarth in yaur terms af �ervice or an your 1�deo Services r�4e card jup to the amount allowable by �aw and any applicable sales 1ax) Yeur 6ank aceount may be dehit�d as early as tne same day payment is dishoraoreq, refus�d of retu�'n�d if your bank account is not de4ited, !he returned check amount fplus fee) must I�e replaced I�y cash, cashier's checkvr money arder. Complair�t Procequres - YDU Yaave 64 days FrDm the hilfing dat� fa reg�ster a cp�nplaint if you disagree wi}h your chaeges. Franc#�ise Administrator -�Ity of hAonticelfo 565 Walnut 5t, Sui�e 1 Mont�cellv MN 5536?-8822 Phone; {763) 27i-3215 Timely Payment - IF your payme�t ir not r2ceiWed 6y khe neKt tailling statement, yo�r accr�unt is suGj�ct ta Interruption of service, Charter equipment may be renc�ered nan-functionai prior to terminatian Yau may he sutrj�et to a change of serv�ce charge to reinstate your digital channe4s and !n[ernet servic2 wrher� functian is restored. 5tat�rnenfs with Zera or Credit Balances - C�stomers with a zero pr cre�i[ balanee vn their aifl will npt receiv� a paqer statement, � f 9f1� (�I -�� I'�oiltlCellC� 1. COI�ITACT �NFORMA�'1ClN MC3NTTCELL� EDA SMALL BUSIN�S5 EMERGENCY GRAN'T ,APPLICATi+DN I.egal I�ame of Susiness: , �� •�lfl �Gl'1�� 11i`1,3+�C.• t��j . �tS;� (�i,��,4t � �t��l�etl ��,, Project SitQ Address: � CCc-. C1�1 ,� �'J�dtE � �1�]: C"'l�iPt��.��iF � i ��. Can#act Person{s): � t'ti'�1�,��1[��1� Business Phpr�e: ��r.'_� •�� - �c�.� (��. Email: Hnrne T'hc�n�: Check +C)r+e: I'rc�prietc�r �� Cor�c.,r�tic�n � _ I'�rMers}li� Fedcral Il� � State ID K Prc�p�rty {�wrser: �� Ifl �1T1� Sl1( �. 2. BUSIIVESS IN�'�RMATI�QI� Please ,a�tach additinna! d[acttrnetrtsl�ages as rxeer�ed ta b� cotn�[ete r�s �Ussit�[e. u. Years of aperatian in Morrticell� �L�.:fl [� C'�i�. ��i1t�>a"-�, ��1 �1�1�'�{,��f�; �;n� 1��1�� . i.ist belnw the number �f part hime and ffu�! time employees. For �urpnses nf calc�latiort, th� tet•r�� '"e»��In�ees" rrraJ include thnse staf�rentir�,�� nr feasin� �i�cili[�ies r.�t�hirt tfte Mvntiee�in btasiness �c�cativn. Prinr ta March 15�h, 2U2Q FT ic� PT % Gurrent FI° � PT `' y� . Give a brief sumrnary of your business (produc#s, senrices, growth history, aperations, number of locations, etc.) B�st Western Pl�s Chelsea Hfltel has been proWiding award winning lodging ancf ineeting space for the Monticello area since April 30, 200E}. We are a fimited service hotel �roviding meeting space, sho�t and long t�rm stays for breakfast and offer fr�e breakfas#, swimming paoE, spa and exercise facility. In our fiirs# full year of aperation in ZQ01 we achieved gross s�les �evenue of and have cont�nued to see y�ar a�ier year growth to a high of in 2019. auring this t�me we have been recognized a� a top performing Best Western hotel in North Art�erica and maintained a#� ranking on trav�f sites such as Trip Advisor fnr the Monticeilo area. �,. Provide i�forrr�ation regarding how yflur operations ha�re been impacted by the pandemic, specifically �ours af operation, employee reductions, etc. Include any strategies impfemen#ed to sustain your business Since the onset of the Covid-19 pandemic our gross �perating reWenue h�s decreased more than 80% which has been caused by bath a dr�matic drop +n occupancy as wei9 as a substantiak decrease on average da�ly �oom rates. O+�r gross reven�e for April for exarrr��e for 2020 was $27.980 compar�d ta $132,288 for 2019. Wl'�ike there I�as been a sligh# decraase in expenses the cost of labor has not decreased to correspand ta the loss in revenu� as we a�e skill required ta maintain a front officel�esEc staff and have had #o institute mar� costly and time consuming ckeaning techniques which have been mandated by the Minnesota Department of Health as we!! as the natianally reeogniaed Best West�rn We Care Clean prQgra�. c;, Qescribe of the current pfans for resuming op�rations foilawing the C�VI�-19 cri�is. W� coritEnue pract�� soci�l uis[ai�ci��g. +��nti��r�y �ii ihe polici�s an� Nracetfur�::ti, �t�te�f ��ovc:, with focus of safety and healt� of our staff and guests. Perry Sloneker Generak Manager Best W�st�rn Pkus Cheisea Hotel 89 Chelsea Road Montic2llo, MN 553fi2 763-279-888Q Fax 763-�71-3Q50 0 3. GRANT REQUEST Amount Rec�ueste�: $ �� 4. FINANCING Please provide documentsJevidence of o#her sources of state or �ederal funds your business has been awarded or denied during the CC}VIiD panci�emic, as appiicab�e, ineluding Econamic Injury funcfs PPI', etc, C[.1,i�G vc.lF'C� 5�. AT'TACHMENTS CHECK LIST Please attach the fc�llawing: � A) Proaf of address -`_�te�.'� �i� [�+ti�� `�� s`�'�''�,'�-n� ✓ B) Fix�ancial statements, such as: • Previ€�us year's annt�al gross revenue �✓• Average monthly gross rev�nue prior ta C�ViD-19 • Projected manthly gross revenue far the next three months PLEASE DO NCJT SLIBMIT FINANCIAL STATEMENTS RATHER SUBMIT A SU�vIMARY O� THE II�iFORM.A"I'IQN REQUESTED. � C) Proof of exp�enses to be paici -��L-'��'��•.� -1�� . t�, r ta `� �� „�„-k— � D) Award/denial 3etters — State and Federal Assistance Programs ��-, .,�� i �� (t�� 41k t�r�rr" 6. AGR�EMENT I/ We certify that all information pravided in this appiieation is true and correct to tl-►e best of my/o«r knowledge. I/ We autitorize the M�nticello EUA to verify financial and o#her inforrnakion. I/ We agree to provide any additional informa�ion as may be rec�uested by the city. The undersigned has received the ��A's poliey regarding the program ai�d complies wifih all eligibility requzrerner�ts. Puriher, the app�icant unc�erstands that funds are awarded on a firs�-come first served b�sis. APPLICANT SIGNA.TUI2E APPLICANT IVAME (Print): � � ' � DATE: ��l �S ��;:�4: The EDA is a governmentai entif�y und as such �rtust provide publzc access to public daia it recefves. Data deemed b� Applicant to be r�anpublic data under Sfate Iaw should Uc so designated or marked I�y Ap,plica�xt. See Mznnesota Statutes, Sectio��s 13.591, Su�d. 1 and �. � • JNYr p� R�B�� J« H�1'Y11L17� � � v�xr�H� cavrr�rr s �� AUDITdRITREASURER a��d a 10 SECONI7 STRE�.T N.VL'. ROOM 230 +�8 BUFFAI,4, MN 553�3-119� 7G3-�i82-7572 or 7G3-682-7584 www.cq.wright.mn.us Property ID #: R155-0?9-a(}1�90 Taxpayer I[7 Number: 206432 o2sss2 CHIN FOM1lG INN !NC pBA COMFORT INN � $9 CH�LSEA Rp MON�'IC�LLQ MN 553G2-8Si2 l�II��I��I��I��I��I,��I�'�i��l�t��`I�Il�l�lll��l�l��l��l Tax Statement � � • �.,,_ �� -�� VALUES ANt7 CLASSIFIGATION Sent l�lurch 2019 ``' "' Taxes Payabie Year: 2019 20 '�� Estima[edMarketValue: 1,700,000 � �'�� 1,7S1,f H'om�saead Exclusion: Taxable Market Yaluc: 1,700,0�0 3,751,( New Empra�eme,ets; Expim�l Exclusurns: Properry CkassiTcation: COMM CO� �f`�-'r% P�'OPOSEL�TAX Sersli�November2(119 ') �- Propased Tar: 49,254 ;:r,d . PR�}PERTY �AX STAT�fiAEN7 First-ha[(T�x�, Seccrnd-half F�.Yes- Tofal Taxes bue in ?CI?U: ��'' �_]l�]j�`� �� Fnu mu�' hc c!'.�i�+1�• /ut' urrc� nr c�ti��it fu�n rejirrt�l� Its r'ec�tx�E' 4'�3ttr 1»��,E�c�r'tl' fr1.t. !ic'uil lhcr hur�; u/ �ftrs c1cr��tri�rtr lr� fi�rcl ntr! {auir tr� tr��14'. I 'I'ares Pay�abic Y'e�r: 2019 � � � � PiOpert,V TaX ; ' �tdf( RiNRi I. Use chis arnoun2 on Forsn �vil Fit w see if yau are eligible fur a i�ocne�tead creAit refunc�. s.j File by Au�uss I5. Ef ahis box is chzcl:cd, yvu ou�e dzSinqcreni taxes and ar� not eiigih3e- ` ?. Use thase amounts on E'orm ivf I PR rq see if you are eligible fur a speeiai refund. Property �#ddress: q �4 CHkLSGA RD y 3. Your prs�pert}^ ta.xes before credits 49,3AZ.Oq E�tONTIC'ELLU MN 553G2 U 4. Creciits that reducr your property taxes Propertv DescripNon: Sect-]� Twp-i?i Ran�e-�J25 S[LVER F"OX tot-043 Black-001 Speciak ASstssment Breakduwn: t� c � � f- C C .y � m .� � s, � R h � m a 0 11. A, Agaicul�ural and eural land crcdits f3. Clther Creriits 5. Pro�erty iaaes after credits 6. counry 7. Ciiy or Town ICI'iY' E)F MfONTICFLLC7) iS. Staie Gener:� Ta3c 9, Schooi I7isirSe� (OFi82) A. Voter approved levses �. Qsherlucallevirs 10. Speaial"�axingbiS[ri4[s A- MEONTI H€tA l I.':'tion-schcwl veaere appr�vcd retiienda 3evies 12. ?otal p�'opersy tax be%re spccia9 assessments l3. Spcelal Assessmenu on Your Properiy S�a Left Tor Hreakdou n ot Special A5 z;�,me;ir� S�ci�l Asse�sments "Fntals 14.'4'OUR TO'Tr�L PC20P�.�TY TAX ANIl SPEC[AL ASSESS�'lN.N'CS 24,(�9 24,609 49,21 S 202 4g,213, 44.3d2,00 49,218. �a,�zo.��> >�,?z3. 11,351212 t 1,983, 13.4b7.08 I?.,729. 4,127.67 3,3d$. S,?36.��3 5,526. 34R.60 �U7. 44,�i42.00 49,215, 49,342.04 49,218. PA`�ABLE 2024 2"a HALF PAYMENT STUB PLEASEREADTHEBACKOFTHESTATEMEAJ7F�RINSPORTANTWFQRMATION. TO AVaID P�NALTY PAY ON OR BEFORE: OCTOB�R 15, 2020 Pro��riy ID Number: �t��-u�a-ooiosa Total Property Tax for 2fl20 $ 49,218.Q4 Bill Nurnber: 223ss 2nd F4alf Tax Amoun! $�a,sos.00 ID f�umber: 206�32 Penalty , CF11N �ONG INN INC DBA CQMFQRT 1NN $9 CHELSEA F�� MONTICELLO MN 55362-8912 2nd Half Total Amount Due 1l�AKE CHECKS PAY�4BiE & MAR T0: RQf3ER'f' J. HTNAI.,A WREGF�TCnLi,'�[11'.4ilDITOitlfREhS�iR�R �� l6 5ECOf�!E) Si'E2EET N.W. ROOiM 2�0 � BIiFFA[,0, MN 55313-u94 ' � If your address has changed please check this box and show the change on ti�e back o% this stub. _ .- --__ - -- __ ------- — -- _ _ _ �'� �' 1�Civ1 _ _. z r�": �r, Ft : ��■ �� R 1' � ^ " . � F �r . �an� 812 �v9�irt SirBe1 �J 6 � `` " ' Elk River. �u1N 5533Q r��s 1 r .- � � �� Hk Rfver �` � . . . . � �R'� � L{' . , � f7631 P41.36:i�'f • NWW EPkRivar.bank . � . . t5� �� ,. . . . . , . . � . . . . . '4 � �1 t x »i fl�..�f f{ ,1 a�r'"�"� w' ,�i, , ��4q „��e �� Lk�s � ,��r',,, �; REMi-l�TER: FTRS'�' BANK EI�K RIV�F2 ,� 4/14/2Q � t��.�; �`: � `' �..�;> s PAY 1 C � � � b�Fi�:. �. �E C�Tii�T FONG I1+iI3, IIQC � 'ri 0�� . . _ � ��cT�� 72, �oo �m oo/�aQ �or�r�xs ��p �a�arr P�ocE�ns ��t7��fl�ai ��'4i1'1► A 6EClARA71(Jh! OF LGSS F�Rk+! MUST 6E GbMPLE�€D B��ORE RMY pfFICIAL GNECK Of iH:5 BAIdK WRLL BE r�:PteS,yEB OR �EFUtSeED. h0 ACTION CAN BE TAICEK UNi1l7HE 96iN �kY � FOLL��'�lIIJG T!!E f55ifE [IATE Uf THE CHECK. Q � ;c .... � . .,:. .. }y p v _.� � - s�. .w .�. _.. . .:�. �.�..... — — -- .. __ . ,.-- -.... ..w r+ r, -s .i r. r...� . � � F�rSt 1 P�� 812 Main S1ree1 1 E4k Rsver, MN 5533[3 EI{c i{iver � ; 6a� zsi -3ss' . www.E�KR�ived.onn� REMfTTER: FIRS`T BP.ItiiK ELK RIV'ER CHII3 FONG INN, INC E1iACTI,,Y *�72, 5Q0 AND 00/100 DOL7�AR� CUST(iM�R - FIL� CQPY CASH�ER'S CHEGK oar� 4/14/20 � � ,�ao.o� Ir� Q63 $72,500.fl0 NDT NEGOTIABI.E *, � � i0 I Q� '� I n i �'I �, I Q: I � 6 II � � � � , ---� :._.. ' ' ;� ' � :•► �:r '�: , O ', i i O i� � � tD ' O� '� � � � � , , 'C7,Zi � rn .o ! �-� ! i �� I� � 'pi� �, I � � ! ' � ''� ,o �3'c� � �� ?-'� � � I i :� ��r�� c �� ;� �'� v � ca �' I� �'�}� c�u i� ��-,�''�� . _.; , - � , ; � �� , �FR I t� EA �#A I 4� ' � . {�Iq I b�1 #fl -� I, � �a � � � � E!9 �A fi9 ', Clt (1t �J cO . 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W G� O. j' W OD;3 �P O',iV +l tt�'OD V�;�,� W � �I -a : N � 'y 'ti1 OD � , :�I,�l Cri'O�<D;A?;N C?',�1:QOi�N'G,jl o r� w l a� � efl ; w � rn a� o� � c� n� -•� '�p �#f3'#f3�fR'b9 #fl'{�;�I�I'�;� �'!'�l I I I I I ! , I � � (� Cn ; 07 CJ7 U ' � f`3 '�I �I 00 � i C�''� C] CJ1:O C31 L7I�;�l;�1�1 3, i � C7 Q E7 O C7 C� ' O' P+) ' CL� � C� N C7� Q O O rJ O Q� O 00 00 I CC? 00 N I� li !p ��p p,p',p;C7,Oi4 a4 Ct3;�i� Q C7�O.C]'OI9'O OO',-� .P OD��:�] �p',O C] O'� C7'O;W �'N,� N[]; i i �. » I � � � ; � � ,. � i I i I 1 I j �� i `�1,�'� CRrx�DF � � ��1��.�� MC)NTICELL[] EDA SMALL BUSII�ESS EMERGENCY GIZA�T APPLICATIt7N 1. C�D1V`I'A,�i' IN�U�i.MATIQN 'j ��{� � ],� y��'j i.egat Nas�rie of Business: � V �I� t;'��" �, � �,�'�,�i ��,"' �� '��t '�` j �, � Praject Site �cScixeSs: � t� � � r " � � S � �� Cily 1 State / �ip: , � ��"11��, :� �1.��+ � ` �)..`.1' - _ Conta�t Person(s}: Business C'hon�� Home I't►on�: ��: Che�k Clne: f-' F'raprictor r- Corp�ratic�n f'� 3'az'tners�i�� Federai ID # 5tate ID n. PrcapeXty C]wn�r: , � � � 2. �F�1SI1�'ESS �N�aRMIATIC}N �:�� } �v�j�.�: PIease atiach additiorust dvcumenisApages us rreeded to be carn�tete us passibie. cr. Years of operatit�n in Montieellv � �� `�° 1�� ►. �.rst below the raumber of park time and full t�rne employees. Fnr purpases af caIculutran, tlre ter�n "empinye�s" ma�r incIude #hase sfaff rentang or lertsing faci�rtres uriEltirr fhe MnnticPllfl business lncutivn. Pri€�r ta �Marsh 15"•, 2[]20 �' � � Current �' � �'T c. Gi�re a brief summary pf yo�tr business (pra�ucts, services. g�a►nrth history, operatzons, number of iocak�ans, �tc.} �"� � � � � '�� i�i+.�� :�� '�'�'-� ��. ��1nt'� C� �� '�'� .�e�.��'r�� 0�-�".i� � �� '��t��``� �`�.�.€� �•�- � `�L�;2 !�'�.�n�-1C� ��,�u►�"'.�" �,� � i�.�� ' �U�,� � ,�� `�� C��1,�t��[(:�.�r� �� } f �� v�o�1 �,�v'�� .� � P �1 , � ��,F � �,�� ,. �� (`� �1, 5`�-� � �.11�—� � . � � V �' � I .��'l.� ! �.� a � � �� p. � !� Y � � �{��L 1 ��.�1�. d. P ov de in�orn� ar�zn oi� o r ra ons � m�� y. e�'�V�,.�1L'� pandem�.c, specifica.l.[y hc�urs vf vperation, emplQyee r riuc�ons. �#c. Include a�y � y strategies irnp�emented ta sustain yc�r.�r husiness . �� M� �' '�''� � �.��-�- , �:�i1� c �1-�i �z1� � j ry ♦ r.. � , f I�;�il-1�' .�+� j C'�'� �? �, x � �`'' "1� �� [�� L � � � ! ¢ � �� .�j,�r � �,�,�C�(� j�r- �1�1?[ -�, U'�'�L �. �ti�� ; � ��., ��.� �- +�� r� � �� . �� '�j �� e� � �� t � �� "� . r J1��. � ;i� �� f � -�:� '�� j � �; � ��i��,�'�.� �� _ � � � �� ; . . � ,.�,� �� x��'�� , �.�� , � �.�: -� � � �� , � � �,� � �.. � �c e. ProKi e a descriptivn and inciude documentation o# the econonnic impact of the pandemac nn yvur business. � � ��'1 i �,I�li�#Ji�''� ` U � l �� l�� ..'" ;� [� i�y�J4� t,�+�� flt°"� i � � � ��' � i.� �'1�.C�1 ��v�� ' ° ' Cv�i.l� Ivr,�� '�� .� � l� �'�� `�i.� ��.�.� � �,��1�. � � ' ,� � � �' -�'� �� . �`�� vv� � � �� * �r� � �� fi�� . � U �.�.�1 �l� i� '�. ► �� , � . � �w�� v�� .�n�.�s [�� c�k �-.� �� ` - ��:� i�,�� .�l.:�.c;� � � �.�� a'�` . � ` � � � . -� � �, ,�,,�.g-� �,�r 1 � -C��.��.�� C�,�1� � �� 1V ,�� , , � ��, -�.�- � � --- � I � � o -� �,.�.�.�- � �� . �.� ��.��:�.�� , r i � al�l �� r ��.h, ��,� � � c� � ��-� �,o v� � �� r�� .�,,c�.p �.bt�n ti [ ri � �' � �� -� t+�� -�� f I�escxibe vF tY�e current plar�s for resurnin� �pera�ic�ns foiIowin� the COVIr3-19 CTlS15, �.�, n � �� ' �'��--� j �� "L: L��.� -� � �,-i('� '�`�� u� �� .-�,; � � �r'��,� � � � � � '�. - ,�� j {�� ri�,ll� .�i�� _�.1 , r1 r5 t� � V � "� � � � � � �� - u � � � �u� � ��r �-� ��, 1j�-�.N� ��. � i�t7�G� ��h�' 11i��}�-�1�,`� lf`�.�t. �,'i,�.�U+�� "�.� ��` � �i�'1� �'�Lt ��.�. �, c��'�� L �; ,� � • , "� �,�'�.'.��.� .1�. �'�-��'� Uu�-�'�� -��{,,1fC �,��,f�Uv�,U�U+�I�'� '�..�V`� �l G�°�� 3. � �1�A�T H�QiJEST �� ,"l%'�1' � �'� �V'L.' [� �' � � Arnaunt REt�uested: $ � � �� :� 1'�� 4. FINANCIN� Please pra�i�fe d�curnenksfevidence Qf other snurees of state or federal fixnds yaur business has �n awarded or denied during, the {CCJVID pandennic, as applicable, including �cnnvmi� Inj� funds. PP�', et�. 5. ATTACHM�NTS CHECK T,IST Please attact�t the fpll�`wirt�: y,� A) Proof vf address S) Financial statements -- Previous year's annua� gross re�renue, average manthly grc�ss revenue prior to COVTD-19, and projeeted rraonthly gross rerrenue for the next three mant�s. C} Praof of expenses �o be paid I]} Awasd�denia] lette�rs — State and Fed�ral Assistan�e Progr�rns 6. AGAEEM�NT I 1 We cerii.fy that all infnrmation pro�ided in this application is true and �orrect to the best Qf myjour knowledge. I/ We sufihori.ze the Mnnticellv EiJA t�+ verify fizt�zlcial and other infc�rmation. I 1 We agree t� provicie any additional inft�xrnatian as may �e requested by the r.ity- The undersigned has received fhe EDA's policy regarding the program and understane�s that fun�is are awarded on a first-�ome first ��-ved basis. APPLICANf SIGI�iATUAE # , �` ; r� � , � � � ` � � / A.]'PLICANT NA�I/IE �Print): � ;1 E3f�TE: � � � {�,�.�� 4 I �� _ __ ..� T7ze �'UA is a gavernmert#a! entity a�d as stseh must prvaide pubTic access fa public data it receives. I7uta rieemed by Applicani �n be nnnpub�ic data ur�der State taul shauld be sv designuted nr marked by App2icant. See Mint�esnfa State�fes, Sections 13.591, 5ubd. T und 2. 3 Business Record D�tails � Minnesota Business Itilarne Mvnti��lla Cf�amber vf Cvmmerc+� �nd Industry Busine�s Type Nonproht Corporation (Damesti�} File �9un�ber - Filing Date a314�A1948 R�r�ewal Due Qate 12l3112L?20 Number of Shares NaNE President MAfiCYANL]ER5�QM11 �i�ing Histary Filing Hi�#�vey MN Sta#ute 317A HomQ Jurlsdictinn Minr�esota 5t,atus Active 1 ln Good 5tanding Registered affice Atldress 245 Pine Str PGl Bx 192 Monticeiio, MN 55382 USA Registered Agent(s] {O�tional) Currently �ia Ager�t Seiect the item{s} yau wavld Iike to Qrder: �r�ier 5�lected Cop�es �; Filing Date Fiiing �:, 431�]8/7948 originai �ilir�� - N4n�rofitCarparaC+an iDomestic) []�/(]811948 fJonprofit Corparatian t�omesticj Business Name (Business IVame: The Mr�nticel�v Chamk�er of Corr�m�rce, lncorporated} E#Fect€�e Date � Filing D�te Fifing � 04J1511491 C} 12f16/1991 C � � �lzal2c�oo � a7J2Q12�30b Registered Dffice andlor Agent - Nonprofit Corporatian (Damest'sc} Amendment - Nonprv�it C�rpora#ion (Domestie} Registered Dffice ar�d/tir Agen# - Nnnprofit Corporation [❑nmest�c) Non�rofit Corparation �Qomestic] Business Name (Business Name: ManCicelko Chamber of Commerce and ln�iustry} Efferti�e �a#e Cc7 2020 Uffrce of the Mir�nesota 5ec�'etarynf 5tate -�'erms & Conditians � 5ubscribe for emaii updates! �he��.�r�� state Ba�k _ ADVER5E ACTlCalll �1�3TICE To: Monticello Chamber of Commerce Pfl Bax 192 MonticelEo, MhJ 553fi� SUBJ�C7: PPP LC7A�J APPLICRTI�JN �ear MareY, April 23, 2�2C] 7hank you far applyir�g to us for' the loan transaction �3escribed abo�e. After carefully re�iewing your �pplication, we are sarry to aduise you that we cannot grant a 14an to you for the following reasons: • Not �ligib�e If you ha�e any questions regarding this notice, you shauld Gontact us at: 5heri�urne 5taCe 8ank Attn: Saraf� T Kvrtmansky PO Box 97'0 12C1Q State Fiighway 25 5 Montieello, MN 55�5� 753-271-7177 I��►1r7�:� SHERBi1RNE 5iA7E BANIC 5arah T Kortmansky, Chief Lending Officer }3eck�r. 1�•!N �� zU� ti•1t�E7liecliir, '�1� j�iG? IjPiCViL'SC3CI. ;�'l�+° »;? l I'.{7. E3nx 4?� I'.[3, 13nx �?7(J I?6 i�'. IZutn Ri+:�r I.3ri� e 7t;;.?(•1-�J�(1[} ;bs-'?1_�1 +7 ?G��iRs)-dti9iY ��.sh�rh�irite,�atc!}o-t3if,.re��i� • "�'Irrnl,cr Ff)tC` . . . . . . . . • � . . .. � 0 0 �� V f� i N � N LL T � N U i 3 O N � U N �O i a � � 0 � � a� U i 3 O N � U N �O i a � � 0 � � � � o � o +� o ��,n '� x x x x x x O � U z s O � U N � t � � � � � � � � � � N N N N N N � � � � � � � i � N � N � N dA � N N G1 � Ol Ol N N N N N 6L � 3 a m � � 0 0 � � � � m m c� � o � a� 3 a� � 0 � O a� i .� a O � — � � � N O U V +�+ �� X X X X X X � i U da a � J w � a� � � a� �7 � � y � +� a� � � V� X X X X X X N � X 0 � �bA W G1 — (� W � �� O O O O O O � � i p O O O O O O � � Q � � � � � � � � � � � � ,} O O � i �, � N t�if � � � � � m � � O m •3 N d�A t � � N � fC V � O � � 00 � vi p dA � s s � � U O i � V N � � +r LL +�+ 3 `� � � .� � � � � '� o a, 00 Z oC W � � V� � N > •U N � \ i O 6L � N .Q Q Q N U � � � � .� � Q � �U i fC � I,i � a� � � � a� � � N � � a� � +� �. U O � Q � � � W a 0 W V � � f� O J 0 W W 0 a a a J 0 W � � � a� a� a� � +� +� +� � _ _ = N +� +� +� � > > > � ++ ++ ++ �'' � � � _ � � � � 0�0�0�0�� XI I XI I X a� x � � � � i N Q O a X x � x SMALL BUSINESS EMERGENCY ASSISTANCE GRANT AGREEMENT This Grant Agreement ("Agreement") is made this day of , 2020, between the City of Monticello Economic Development Authority, a public body corporate and politic and political subdivision of the State of Minnesota ("Grantor"), and [name of business], a Minnesota [type of business entity, e.g. limited liability company, sole proprietorship, assumed name, etc.] ("Grantee"). RECITALS A. Grantor has created its Small Business Emergency Assistance Grant Program (the "Program") and has approved guidelines for the Program (the "Program Guidelines"). B. Grantee has submitted an application for a grant (the "Grant Application") under the Program Guidelines, and Grantor has approved a grant to the Grantee in the amount of $ (the "Grant") to pay a portion of the expenses described in the Grant Application, in connection with Grantee's [kind of business, e.g. restaurant, salon, etc.] located at in the City of Monticello, Minnesota (the "City") (the "Grant Activities"). C. The Grantor and Grantee wish to memorialize the terms of the Grant in this Agreement. ACCORDINGLY, the parties agree as follows: 1. The Grant Amount. Subject to the terms of this Agreement, the Program Guidelines, and the Grant Application (together, the "Grant Documents"), Grantor agrees to grant to Grantee the sum of and no/100ths Dollars ($ ). The Grant will be paid by Grantor to Grantee for the Grant Activities approved under the Grant Documents in accordance with Section 2 hereof. 2. Pavment of Grant Proceeds. (a) The Grant will be paid to Grantee in accordance with the terms and conditions of the Grant Documents. The Grantee agrees that any costs of the Grant Activities exceeding the amount to be paid under this Agreement are the sole responsibility of the Grantee. (b) The Grantor will pay the Grant to Grantee once the Grantor has received from Grantee, without expense to Grantor, a signed copy of this Agreement. 3. Representations and Warranties. Grantee represents and warrants to Grantor that: (a) Grantee is authorized to sign, deliver, and perform this Agreement and to receive the Grant from Grantor. 1 (b) Grantee agrees that it will keep and maintain books, records, and other documents relating directly to the receipt and payment of Grant proceeds and that any authorized representative of Grantor, with reasonable advance notice, may have access to and the right to inspect, copy, audit, and examine all such books, records, and other documents of Grantee related to the Grant until Grantee provides its final report to Grantor. (c) To the best of Grantee's knowledge, Grantee has fully complied with all applicable state laws reasonably relevant to this Agreement and will continue to comply throughout the term 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 law in question. (d) Grantee will use the proceeds of the Grant made by Grantor only for the Grant Activities, and within 60 days after the date of this Agreement, Grantee will provide to Grantor in writing a brief report (like the example included in the Grant Application), stating how all of the Grant funds have been used and providing evidence in the form of paid invoices, statements, or similar. 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. 5. Indemnification. (a) Grantee agrees 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 will 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 will constitute a waiver of or limitation on any immunity from or limitation on liability to which Grantee is entitled under law. 6. 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�nment. This Agreement is binding upon the parties. 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. (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 City of Monticello, MN 55362 Attn: Executive Director To Grantee: Attn: (f) Termination. On the date the Grantor receives Grantee's written report on Grantee's expenditure of Grant proceeds as described in paragraph 3(� of this Agreement, this Agreement will terminate and neither party will have any further obligation to the other. (g) Entire A�reement. This Agreement, together with the Grant Documents, is the entire statement of agreement between the Grantor and Grantee regarding the Grant. 3 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: CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY By: Its President By: Its Executive Director [SIGNATURE PAGE TO GRANT AGREEMENT - GRANTOR] GRANTEE: [Business name] : Title: [SIGNATURE PAGE TO GRANT AGREEMENT - GRANTEE] 656052v1 M� MN190-101 CITY OF • 'I�ril on l�� MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY SMALL BUSINESS EMERGENCY ASSISTANCE PROGRAM POLICY PURPOSE The Economic Development Authority for the City of Monticello (EDA) recognizes that small businesses are vital to the fabric of the Monticello community. Accordingly, the Monticello Economic Development Authority (EDA) has developed a Small Business Emergency Assistance Program to address working capital needs upon the declaration of a state of emergency by the State of Minnesota (State) and the City of Monticello (City). The purpose of this program is to ensure the viability of the community's small businesses faced with the current COVID-19 health emergency, which is adversely impacting the local economy. The goal of this program is to provide needed financing for local businesses to help sustain operations and endure economic hardships during this challenging time. The program is structured as grant assistance. Grant funds are available on a first-come, first-served basis. The program is subject to funding availability from the EDA. The EDA retains the authority and discretion to approve or deny an application, and reserves the right to subsequently add further priorities, change eligibility criteria, or discontinue the program in response to changing circumstances. ELIGIBILITY a. Eligible Businesses To be eligible to receive Small Business Emergency Assistance funds, a business must demonstrate that its operations have been directly and adversely affected by the COVID-19 Health Pandemic and include the following: 1. Eligible business types include locally owned and operated businesses noted in Executive Orders 20-04 and 20-08, such as those listed below. Restaurants, cafes, coffeehouses, and other places of public accommodation offering food or beverage for on-premises consumption. Taverns, brew pubs, microbreweries, distilleries, wineries, tasting rooms, and other places of public accommodation offering alcoholic beverages for on- premises consumption. Gymnasiums, fitness centers, indoor sports facilities, indoor exercise facilities, businesses offering massage therapy, spas, salons, nail salons, cosmetology salons, and barber shops. This includes, but is not limited to, all salons and shops licensed by the Minnesota Board of Cosmetologist Examiners and the Minnesota Board of Barber Examiners. Bowling alleys, theaters, skating rinks, and other similar recreational or entertainment facilities. • Local boutique and specialty retailers. 2. Other businesses as approved by the EDA. b. Eligibility Requirements The business shall have a physical address (proof of address required) within the corporate boundary of the City and have been operating within the City long enough to demonstrate financial viability; The business shall employ between 2 and 25 Full Time Equivalent (FTE) employees prior to the issuance of the State of Minnesota Emergency Executive Order 20-04 (March 16, 2020) and/or make $1 million or less in annual gross revenue. For purposes of calculation, the term "employees" may include those staff renting or leasing facilities within the Monticello business location. 4. All businesses must serve the general public and be a conforming or legally non- conforming use under the current zoning regulations of the City, and must not be in violation of the City's zoning code. Applicants are strongly encouraged to claim all applicable private and public insurance and utilize all other sources of applicable assistance available from other private and public sources. Applicants are also strongly encouraged to apply for an Economic Injury Disaster Grant through the Small Business Administration (SBA) and Small Business Emergency Grant through the Minnesota Department of Employment and Economic Development (DEED) prior to applying for this grant. For more information, visit: Guide to financial resources for Minnesota small businesses While not absolutely required, applications which include proof of application submittal, acceptance, approval and/or denial of State and federal emergency financing programs will receive higher scores in evaluation. Assistance cannot be provided to businesses that: • Do not have a physical address (and building/location) within the City of Monticello. • Have more than three total locations operating as part of the business enterprise. 2 • Derive income from passive investments without operational ties to operating businesses or whose primary source of revenue is from business-to-business transactions. • Primarily generate income from gambling activities. • Have no current or historical financial statements. • See also a2 above. FUND TERMS & CONDITIONS a. Amount: Businesses may apply for a one-time emergency grant of up to $5,000. The EDA shall determine the final award amounts based upon scoring criteria. b. Term: All grant awards must be utilized within two months of the date of the grant fund disbursement. c. Uses: Awarded funds may be used exclusively for current payroll obligations (i.e. may not include employees who have been laid off), lease or mortgage payments, utilities, accounts payable, property taxes and other critical business expenses that can t be paid as a direct result of the current health emergency. Awarded funds may not be used for businessowner's/manager's personal uses or expenses. The City reserves the right to pay or require payment of delinquent taxes, bills, or charges due to the City out of funds awarded. d. Proof of Need: Applicants shall be required to provide proof of financial need for grant funds. This includes but is not limited to the previous year's annual gross revenue, average monthly gross revenue prior to COVID-19, and projected monthly gross revenue for the next three months. Additionally, as noted above, applicants are encouraged to provide evidence of application submittal, acceptance, approval and/or denial of State and federal emergency financing programs. PLEASE DO NOT SUBMIT FINANCIAL STATEMENTS RATHER SUBMIT A SUMMARY OF THE INFORMATION REQUESTED. e. Proof of Expenses: Applicant shall provide proof of eligible expenses requested to be paid with grant funds. See list of eligible grant uses above. f. Disbursement of Funds: Funds shall be distributed within three weeks after fully executed grant agreement has been received. g. Termination: The EDA retains the right to terminate any agreement under the Emergency Assistance Program if a grant recipient is found to be in violation of any conditions set forth in the grant guidelines or grant agreement. h. Right to Deny: The EDA retains the right to deny any application for grant funding. i. Grant Agreement: Upon a successful grant application being awarded funds, the grant recipient shall enter into a Grant Agreement with the EDA. Funds will not be distributed for any grant award until a grant agreement has been executed by all required parties. j. Reporting: As a condition for receiving grant funding, all grant recipients are required to submit a brief report to the EDA within two months after receiving grant funds, specifying how the entirety of the grant funds were utilized and providing evidence in the form of paid invoices, statements, or similar documentation. k. Funding Availability: The Small Business Emergency Assistance program has a limited amount of funds available. Awards will be provided on a first-come, first-served basis until the earlier of the date the fund is exhausted, or the City-declared state of emergency declaration is lifted. l. Indemnification: All grant recipients shall be required to indemnify the City of Monticello, the Monticello Economic Development Authority, and any officers acting on their behalf. APPLICATION PROCESS Prior to applying, please review the Program Guidelines to determine if your business is eligible. Applications will be available June 1st, 2020. 1. Applications are available on the City's website: www.ci.monticellamn.us. 2. Application requirements will include: • Basic details about the business. • Basic employment and annual gross revenue information. • Information on current operations including whether the business is currently closed or is providing reduced services. • Narrative descriptions and estimated calculations of the negative impacts on the business due to COVID-19. • A narrative description of the current plans for resuming operations following the COVID-19 crisis. • Information on the intended use of the grant funds. • Evidence of application submittal, acceptance, approval and/or denial of State and federal emergency financing programs, as applicable. • Supporting documentation and application attachments. 3. Fully completed and signed applications along with required documents may be submitted online to: Communit�.develo�ment@ci.monticello.mn.us Please note that mailed hard copy applications will take longer to process. 4 4. Upon submission of application, applicants will receive an email confirming receipt of application. The application will be reviewed for eligibility upon receipt. If additional information or documentation is necessary, EDA staff will contact the applicant. Due to an expected high volume of applications, you may consider your application complete if staff does not request additional information within 10 business days after application acceptance. FUNDING PROCESS If application is approved and funds are available, businesses will be notified within 2 business days and provided with an electronic grant agreement for signatures. Small businesses receiving funds must commit to using the funds for eligible program expenses and must agree to document and report specific uses of the funds. All grant recipients are required to submit a brief report to the Monticello EDA within two months after receipt of funds, specifying how the entirety of the funds were utilized and providing evidence in the form of paid invoices, statements, or similar documentation. GRANT AGREEMENT If the application for Small Business Assistance is approved, the applicant and business owner will be required to enter into a grant agreement to proceed. The agreement will specify the terms and conditions of the grant as identified herein. FOLLOW-UP and ADDITIONAL RESOURCES: For businesses needing additional resources such as technical assistance, larger working capital grants, or other, staff will provide ongoing assistance to businesses of all sizes and types, working with partners and other levels of government to access resources as available, such as SBA and State of Minnesota DEED grants. Staff will conduct a check-in with grant recipients within one year of the distribution of funds to learn the effect of the grant and business outcomes such as economic impact of the grant program, (including, but not limited to, employees retained or rehired, and sales) and whether they match the program's desired outcomes of business and/or job retention. QUESTIONS Any questions related to the application process or for assistance in completing the application should be directed to: Jim Thares Economic Development Manager City of Monticello 763-271-3254 communitv. develo�ment@ci.monticello.mn.us EDA Agenda: 06/24/20 8. Economic Development Report (JT) A. Project Gia-Saurus Update: This is a summary update on Project Gia-Saurus. Work is continuing on the Land Feasibility Study. The Study is expected to be completed in the next few days. Staff is tentatively planning to hold a j oint City Council-EDA meeting on June 29, 2020 to review the findings about prospective sites and costs of development. The task efforts related to Project Gia-Saurus have been organized into four areas: #1. Legislative — seeking funding assistance for a portion of the $50,000,000 proposal #2. Federal and State funding programs — Primarily infrastructure funding assistance #3. Industrial Land Feasibility Study — Information on optimal site(s) and costs #4. Project and Process Review-Communications - Maintain-Enhance Relationship with Company and Proj ect due-diligence Staff will continue to work on all of these tracks over the next 40 to 60 days. And, with all of the above efforts in context, the EDA and possibly the City Council may need to consider holding special meetings to discuss next steps in the process and/or consider development agreements and funding applications in order to keep the proposal moving forward. B. UMC Expansion Update: Staff have been in contact with UMC officials and are planning to arrange a meeting in early July 2020 to review potential adjustments to the expansion project construction timeline. C. WSB 2"d Quarter Update: See the report from WSB & Associates providing an update on the regional and national economic trends and key drivers. The report is attached as Exhibit A. ws b Memorandum To: Jim Thares, Economic Development Manager From: Jim Gromberg, Economic Development Coordinator Date: June 9, 2020 Re: Quarterly Report WSB Project No. 013322-00 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 some of the projects and insights to the trends currently facing the City. � Project Updates: 0 " Pro ect Gia-Saurus: The Cit is currentl workin on sites for the ro ect that will allow for the c� J Y� Y 9 p J W facilitation of the proposed building. Currently, the City does not have any sites that will allow for �, the project based upon the needs for 1,000-foot setback from residential housing (company � request) and a building that will be 300 feet by 1,500 feet when fully developed. This building 0 size does not include any setbacks that maybe required. 0 � New Industrial Park: The City has identified 6 sites for the Gia-Saurus project that all fit within � the parameters of the industrial land study report. These sites have been reviewed for the project M and reduced to 3 potential sites based upon the needs of the project. All these sites also fall into � the areas identified for the future employment centers as identified in the comprehensive plan that is being updated. The City has directed WSB to complete a feasibility study for the cost of the � extension of public infrastructure to the sites and the other required infrastructure improvements � to have the potential industrial park sites develop. � Project 6580: The City is currently waiting for an update from the company on the building cost estimated for the project. Based upon the current environment the slower response is not � unexpected. It is still anticipated that there will be a gap for the project and the after that is ° identified the steps that will be required to meet that need. a w z Economic Trends: � What a difference 3 months can make in the status of the economy. The National Bureau of o Economic Research reported on June 8th that the economy fell into recession in February. This W announcement was somewhat surprising as it usually takes 10-12 months for the data to be � analyzed and the determination to be made. The quick determination was a result of the � dramatic contraction of the economy since February. W The unemployment rate in Minnesota rose to 8.1 %(seasonally adjusted) in April with Wright z counties rate being 8.3% for the same period. This is a more than doubling of the unemployment � rate since February. This is the first time that the rate has reached 8% since 2009 and when the a final numbers are tabulated maybe the highest since 1983. a z w X 0 � Monticello EDA June 9, 2020 Page 2 On a national level Minnesota did enjoy the second lowest unemployment rate trailing only Connecticut at 7.9%. The highest rates in the county were in Michigan (heavy industries) and Hawaii (significant tourism) both at 22%. What remains to been seen is the effect of the ending of the Paycheck Protection Program (PPP) will have on these numbers forthe state. In addition, the loosening of the "shelter in place" restrictions will also affect the employment numbers. Minnesota's consumer price index (CPI) also fell by .8% in April lead by the significant drop (17- 18%) of the cost of energy. This is somewhat off set with a small (2-3%) increase in the cost of food. Energy prices have stabilized so it is expected that the CPI will remain flat for the month of May. One of the things to watch for will be the effect of the opening of more businesses and if we see a pent-up demand cause an increase in prices for some items based upon limited supply. In addition to the effects of the COVID-19 pandemic, we also have the effects of the events of the last 2 weeks after the tragic death of Mr. Floyd. Many of the areas that were hardest hit, were areas that were seeing or had seen an economic upswing of new development and services. Depending on the reaction of the business community and developers in the state, this could also have a negative effect on Minnesota's economy recovery and the speed of that recovery. 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.