EDA Minutes 06-29-2020 (Special Meeting)MINUTES
SPECIAL MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Monday, June 29, 2020 — 4:30 p.m.
North Mississippi Room, Monticello Community Center
Commissioners Present: Bill Tapper, Tracy Hinz, 011ie Koropchak-White, Lloyd Hilgart,
and Jim Davidson
Commissioners Absent: Steve Johnson and Jon Morphew
Staff Present: Angela Schumann and Jim Thares
1. Call to Order
Bill Tapper called the Special Meeting of the EDA to order at 4:30 P.M.
2. Roll Call
3. Block 52
a. Property Context
b. Redevelopment Update
c. Goals and Direction
Jim Thares introduced the Block 52 item and noted a closed meeting to discuss property
acquisition would follow. Thares reviewed the Block 52 items in the agenda packet
including a detailed map of property ownership information, a boundary survey, excerpts
from the Downtown Small Area Study, the original Beard Group proposal, and a
preliminary TIF run.
Thares noted that the EDA could likely acquire about eighty percent of the block through
willing seller acquisitions. He further reviewed the total to date in acquisition, relocation,
and other costs; along with the current county market value and square footage of the
block. It was understood that the buildings in Block 52 are dated and the taxable market
value of the entire Block is about $1,890,000 ($17.00 per square foot) which is quite low.
Thares noted that the development area was not located in the Mississippi Wild & Scenic
Recreational River District, which could have caused planning concerns.
Thares noted that the Downtown Small Area Plan encourages 1/ to 1/2 block development
and reminded the EDA of previous developer meetings, where a mix of footprints were
provided that included both residential and commercial development.
Thares also discussed an update following a set of meetings with the Beard Group. The
Beard Group, City Staff, and two EDA members met with two private property owners
on the block. It was summarized that the Beard Group was still committed to
redeveloping the block, but would need to be creative in possibly providing alternative
Economic Development Authority Minutes (Special Meeting) — June 29th, 2020 Page 1 1 2
footprints than previously proposed. Thares reminded the EDA that a preliminary
development agreement was executed between the EDA and the Beard Group. The
agreement expires on February 28, 2021.
The EDA further discussed their thoughts regarding redevelopment of the block and an
alternative plan. The EDA was pleased with the Beard's Groups dedication to the
redevelopment and willingness to continue working through challenges. The EDA would
be interested in the residential unit count proposed in the revised Beard concept(s).
Concerns were also noted about current economy and its effects on retail and housing
development. Members encouraged Beard Group to move fairly methodically in
submitting a revised concept for EDA review and comments.
Angela Schumann added that the EDA should also think about starting conversations
with MnDOT and Wright County regarding potential additional right turn lanes on
southbound Highway 25 heading south and lane structure along Broadway. These could
potentially consume development land on the block. The Walnut Corridor Plan was also
briefly discussed and its implications on a loss of some parking.
Schumann also encouraged the EDA to think about ways to attract local chefs, boutique,
or small business owners to the downtown and suggested possibly developing a grant
program to support these new businesses in the community.
4. Adiournment
JIM DAVIDSON MOVED TO ADJOURN THE MEETING AT 5:26 P.M. LLOYD
HILGART SECONDED THE MOTION. MOTION CARRIED, 5-0.
Recorder: Jacob Thunander
Approved: ^July 8th, 2020
Attest:
, Economic Development Director
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