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HRA Agenda 02-07-2007 . . . AGENDA MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Wednesday, February 7, 2007 - 6:00 p.m. Bridge Room - Community Center Commissioners: Chair Brad Barger, Vice Chair Steve Andrews, Dan Frie, Darrin Labr, and Bill Fair. Council Liaison: Wayne Mayer. Staff: Executive Director Ollie Koropchak, Treasurer Rick WolfstelIer, and Recorder Angela Schumann. Guests: Brian Walker, Walker In-Store. 1. Call to Order. 2. Consideration to approve the December 6, 2006 HRA minutes. 3. Consideration of adding or removing items from the agenda. 4. Tabled - Consideration to authorize payment of the exercised Contract of Deed between the City and the Otter Creek Group, LLC in the amount of $ I ,269,900.33. 5. Consideration to approve entering into the Preliminary Development Agreement between the HRA and Walker In-Store. 6. Consideration to assess the Transformation Home Loan Program and approve continuation of the Program. 7. Consideration to review estimated revenues and expenditures for Otter Creek Crossing and assess need to amend discount price of $ I .00 per sq ft. 8. Consideration to respond to negotiations by Steve Conroy (carry-over.) 9. Consideration to reschedule the HRA annual meeting date in April. 10. Consideration to authorize payment ofHRA bills and accept the EWers' 2007 hourly rate increase. 11. Consideration of HRA Executive Report. 12. Committee Reports: Marketing - Barger/Labr Fiber Optics - Andrews Comp Plan Update - FrieJFair 13. Next regularHRA meeting - Wednesday, March 7,2007. 14. Adjournment. . . . MINUTES MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Wednesday, December 6,2006 - 6:00 p.m. Bridge Room - Community Center Commissioners Present: Chair Brad Barger, Vice Chair Steve Andrews, Darrin Lahr, and Bill Fair. Commissioner AbsentDan Frie. Council Liaison Absent: Wayne Mayer. Staff Present: Executive Director Ollie Koropchak. 1. Call to Order. Chair Barger called the HRA meeting to order at 6:00 p.m. declaring a quorum. 2. Consideration to approve the November 1. 2006 HRA minutes. Commissioner Andrews made a motion to approve the November 1,2006 HRA minutes. Seconded by Commissioner Fair and with no corrections or additions, the minutes were approved as written. Yeas: Andrews, Fair, and Barger. Nays: None. 3. Consideration of adding or removing items from the agenda. Koropchak informed Commissioner Fair that his five-year term on the HRA expires December 2006 and requested his consideration or consent for appointment to another five-year term. Commission appointments are made by Council in January. Additional information provided for items 8. and II. 4. Consideration to authorize annual pavrnent of the amended Contract of Deed between the City and the Otter Creek GrouP. LLC. Since the HRA was not involved in the acquisition and development of the 14-acre site for the A VR, the HRA Attorney suggested the HRA table any action relative to ratifying payment for the additional 53 acres via the Contact for Deed exercised between the City and Otter Creek LLC. This will allow staff the opportunity to work with the Finance Department requesting a copy of the City's uses and sources statement associated with the A VR settlement and submission of construction invoices for eligible costs to be approved by the HRA. Commissioner Fair made a motion to table payment of the exercised Contract for Deed between the City and Otter Creek LLC in the amount of$1, 269, 900.33 and to authorize the 2006 payment of the Contractfor Deed between the City and Otter CreekLLC in the 1 . HRA Minutes - 12/06/06 amount of$151,857.56. The motion was seconded Commissioner Andrews and with no fUrther discussion, the motion carried. Yeas: Fair, Andrews, and Barger. Nays: None. 5. Consideration to adopt a resolution approving the Decertification ofTIF District No. 1-25. an Economic District (Blue Chip Development.) In an analysis completed by Ehlers & Associates, the Ending Fund Balance (2009) for TIF District No.1-25 was projected to be $37,603 and the projected uncommitted revenues was $12,100. In an interpretation oflaw by HRA Attorney Bubul, an authorization to expend the $12, I 00 for eligible costs was necessary prior to the retirement of the $32,000 pay-as-you-go note in August 2006. Therefore, Commissioner Andrews made a motion to adopt a resolution approving the Decertification ofTIF District No. 1-25, an Economic District (Blue Chip.) Commissioner Fair seconded the motion and with no fUrther discussion, the motion carried. Yeas: Andrews, Fair, and Lahr. Nays: None. Abstention: Barger. 6. Consideration to adopt a resolution approving the Decertification ofTIF District No. 1-23. an Economic District (Allied Properties.) . In an analysis completed by Ehlers & Associates, the Ending Fund Balance (2009) for TIF District No.I-23 was projected to be $179,487 and the projected uncommitted revenues was $67, I 00. In an interpretation of law by HRA Attorney Bubul, an authorization to expend the $67,100 for eligible costs was necessary prior to the retirement of the $181,000 Tax Increment Revenue Note in August of2006. Therefore, Commissioner Andrews made a motion to adopt a resolution approving the Decertification ofTIF District No. 1-23, an Economic District (Allied Properties.) The motion was seconded by Commissioner Fair and with no fUrther discussion, the motion carried. Yeas: Andrews, Fair, and Barger. Nays: None. 7. Consideration to review smead sheet of revenues and expenditures on Otter Creek Crossing Phase I and II and assess need to amend discount price of $1.00 per so ft. The commissioners reviewed a draft copy of a spreadsheet of revenues and expendi lures on Otter Creek Crossing Phase I and II. The gentlemen's agreement between the City and HRA was an understanding the HRA would act as the agent for marketing and sales of Otter Creek Crossing. The City and HRA matched funds and paid cash for the first 35 acres purchased from Otter Creek LLC (Chadwick.) . Total HRA cost to purchase the 120 acres and the Rask property is $3,247,283. The amount ofP&I expended by the HRA for land to date is $2,152,971.21 (pending.) The estimated cost by WSB for construction of infrastructure was $2,822,000. The cost for the bids of Phase I 2 . HRA Minutes - 12/06/06 and II plus grading costs is $2,750,365. Phase III yet to be purchased and completed. Trunk fees were estimated at $7,947 per acre in 2003 and proposed at $13,876 per acre in 2007. The HRA sold two lots (10.724 acres) for $647,678 and expect to generate $554,037 (NPV) in tax increment. The City donated 12 acres to AVR at a value of$I,385,208. The HRA requested a clearer estimate of the developable/sellable acres and expenditures, and the amount contributed by the city for the A VR site prior to determining a need to increase the $1.00 per sq. ft. If need be, perhaps, the best alternative is to eliminate the no trunk fee. The commissioners agreed that the $3,245/net acre ponding fee was not applicable to the HRA since the HRA donated the land and pays for construction of the ponds. No action taken. 8. Consideration to respond to negotiations bv Steve Conroy. . The commissioners reviewed the emails from Mr. Conroy relative to his negotiations with Froslie and noted the most recent email stating the Springborg building had sold. The commissioners inquired to the sales price of the Springborg property. Noting their desire to purchase both properties, the HRA took a "think about it" approach. They did discuss and agreed they were not interested in a ten-year operation on the Froslie property. They noted the difference between the $500,000 and $327,789 HRA offer was $172,211. Again, the commissioners agreed to a "think about it" approach. 9. Consideration to discuss and act on second reauest from Walker In-store. The HRA was somewhat unclear to the amount of acreage Mr. Walker desired. Walker had submitted a site concept for a 10,240 sq ft facility on the designated site (Lot 2, Block I, Otter Creek Crossing}'d Addition) and front, rear, and side elevations. Walker noted they could not accept the HRA offer for the designated lot due to the close proximity to the concrete ready mix plant and were interested in finding a site suitable to both the HRA and Walker. Koropchak had not calculated the maximum amount of land Walker could purchase using a 10,240 sq ft facility since they requested a 1.5 acre site at $1.00 per sq ft. Commissioner Lahr made a motion to offer the designated site (Lot 2, Block 1, Otter Creek Crossing 3m Addition) to Walker at a total price of$43, 560 with no assessments and no trunkfees. The motion was seconded by Commissioner Fair and with no fitrther discussion, the motion carried. Yeas: Lahr. Fair, and Barger. Nays: None. 10. Consideration to authorize payment ofHRA bills. Commissioner Fair made a motion to authorize payment of the attached HRA invoices. Seconded by Commissioner Lahr and with no discussion, the motion carried. Yeas: Fair, Lahr, and Barger. Nays: None. . II. Consideration of HRA Executive Report. In addition to the written report, Koropchak indicated a good lead from an engineering firm. 3 . . . HRA Minutes - 12/06/06 Per phone the company noted seventy to one hundred jobs at annual wages between $50,000 to $70,000. Applications mailed and encouraged opportunity to visit existing facility. Regarding the BioScience Zone, Jerry Wenner, DEED, called. Will provide Koropchak with a list of the 42 cities to join the Zone and requested notification when the opportunity reopens. The HRA commissioners were given a letter from the IDC requesting the preservation of net earnings from the sale of Otter Creek Crossing for future acquisition ofland for industrial and information technology development. Additionally the IDC requested, beginning budget year 2008, the HRA and City commit to a matching fund for future acquisition of land for industrial and infonnation technology development. 12. Committee Reports: Marketing - Researching "what does it take to attract a campus like Medtronic?" Looking to create a vision for the future. Next meeting, December 13, 7:00 am. Fiber Optics - Update to the Council in December and authorize to proceed in January. 13. Next regular HRA meeting - Wednesday, January 3,2007. 14. Adjournment. Commissioner Fair made a motion to adjourn. Seconded by Commissioner Lahr and with no fUrther business, the HRA meeting adjourned at 7:45 p.m. Ollie Koropchak, Recorder 4 . . . BRA Agenda - 02/07/07 4. Tabled - Consideration to ratifv Davment of the exercised Contract for Deed between the City and Otter Creek GrouD. LLC in the amount of $1.269.900.33. A. Reference and backl!round: At the HRA meeting in December, the commissioners made a motion to table payment on the Contract for Deed between the City and Otter Creek LLC in the amount of$1,269,900.33 in order to allow time to work with the Finance Department and to review the City's uses and sources statement for acquisition/relocation/infrastructure costs associated with the A VR. This was the suggestion of the HRA Attorney. The HRA serves as the fiscal, negotiating, and marketing agent for Otter Creek Crossing property. On August 23, 2006, the City had exercised its right within the Contract for Deed in order to fill its obligation within the Agreement between the City and A VR and the $1,269,900.33 Contract for Deed payment was paid and coded as an expenditure to the HRA General Fund. However, no revenues had been identified or coded to the HRA General Fund for the land purchase and improvements associated with the 12-14 acre site given to A VR by the city which had a market price of $2.65 per square foot. Working with the Finance Director, a transfer from the Interchange Project Fund in the amount of$1,385,208 (12 acres X $2.65) to the HRA General Fund was completed year-end 2006. B. Alternative Action: 1. A motion to ratify payment of the exercised Contract for Deed between the City and Otter Creek Group, LLC in the amount of$1,269,900.33. 2. A motion to deny ratifying payment of the exercised Contract for Deed between the City and Otter Creek Group, LLC in the amount of$1,269,900.33. 3. A motion to table action. C. Recommendation: Given the revenues were transferred into the HRA General Fund by the Finance Department thereby satisfying the suggestion of the HRA Attorney, the HRA Executive Director recommends Alternative No. 1. 1 . HRA Agenda - 02/07/07 D. SUDDortinl!: Data: Copy of the Contract for Deed payment schedule and copy of the J oumal Entries, December 31,2006, noting the dollars transferred to the HRA. . . 2 . ~~~ r -- ~ . . CITY OF MONITCELLO - C4D - OTTER CREEK, LLC 12/22/2004 ORIGINAL PRINCIPAL: $ 2,185,221.97 INTEREST RATE: PAYMENTS: 1212005 812312006 12/2007 12/2008 1212009 6% PRINCIPAL 100,000.00 PAYMENT AMOUNT: $ 231,113.32 $ $ 1,269,900.33 $ _.,.Ui,if '., ~(1;.$ 45,857.56 $ 145,857.56 $ 39,857.56 $ 139,857.56 $ 33,857.56 $ 598,150.17 $ $ 100,000.00 $ $ 100,000.00 $ $ 564,292.61 $ . Interest is calculated assuming 365 days (December 22). PRINCIPAL BALANCE REMAINING: 2,085,221.97 864,292.61 ..... ]~,292.~1 664,292.61 564,292.61 OtterCreek C4D Payment Schedule. xis ~, ;::: c: .... ..,. ~ t: .2 ;:; 00 , .~ i, "'-../ .CIl ~ ;:;l - E-< Z ~ ~ ~ ;:J o ..., . ~ ii3 ~l E; ::: '- a o U I oj " '" :;P 0 c.. '-" ~I ......-1 ""- d " ~ oj o ~ ~ 'It 8 u\ ..., I " '0 o U " u :: C '" j ;tf'"' ! Z t": : Q 1 ~ 1 r- -;.. ! ~ '-S i ~ \, I I [5 ~ ~ i ~~ o "" i \ f;j : e\ "\ g t]! ~ "" 0..1 ~t . ~ ~-;. Ul ~ [2 M , ;; E; '" z " '0 o U c ,S '" N 'C o .;; ~ i , , !~ !~ i~ :0 :u 'U :~ , , , , \) ~ IT\~ ""1\1 '" '" t't N ,~ ~, i , t ~ : z " i 0 ~ ' - IE--: Ie:: i ~ ....~ 'U ...,. ~~ o r- ~ ~ : ! ~ ~\ I t]! 5 ~ I all 0 ~ ~: ~ ~ I 0: -< ~ : -.;:: I i I I " "" o U " u c " ~ " ~ : , , : ~ ~ ~ ~ 8 '" U --- ~ ~ : I~ , . ; ~v 1'--1';:] ~.J~ "'\~~ I..l ~.... ~~ .~ ~ A' o:::l.:>_ J ~ ~ ~ Qj '" ~ 1 ~ ' " " " ::;. <::... 1 . ~ ,,1'<1; ~ '~ ( ,I'- \J' ~ ~ ~ t ~ ~~ ~ cL ~ .~ \: 11 ~ A 1'1 ' I~ \. ~\ 1:\ ~~ 1'\ <:> \ \' ~~ -- .~ ~7\j<. - '-........ Ii) ...... rt ~ I}-. <) "-f\ ....... ~~ ~ ~ t~ i~ ~'{ l '\t \-; ~\ ~\ ~\ Da~ .{ ~ ~k tJ\ tVl ..... ....... r(\ ...... ~ ~ .... " ~ o '- g:. ~~ r\~ ~"\,,/ ~ J ~ .4 ~ ~ 'I:: ~ l~l~ J ~ ] dJr~ 5~_ __oeL= '-"~ ~,. ;3 \., C (f~V1 ." = JI ~ ~~ : ," ::'" ~ {~~ ~ " <:> "l \" ~ ~ ~r-~ "- ::. ~ ",--- \, ~ (.) ~ i " 1",,~ ~,~ 1~~ ~l~~ , " " k:,; :: ".0": i" i ~ al ] I " '" Ci I ~ . . . HRA Agenda - 02/07/07 5. Consideration to approve enterinl! into the Preliminarv Development Al!reement between the BRA and Walker In-Store. A. Reference and backl!round: At the December HRA meeting, the commissioners agreed to offer Walker In-Store the property described as Lot 2, Block 1, Otter Creek Crossing Third Addition, for a total price of $43,560 with no assessment and no trunk fees. The entire lot is approximately 5.82 acres and consists of 1.55 acres developable land and the remainder is ponding and power line easements. An option to purchase a maximum 1.6 acre site at the market price of$3.00 plus 2007 trunk fees was also offered. Via a telephone conversation on January 9, 2007, Brian Walker informed me that he and his wife had again walked the designated site next to the A VR site and they'd decided to take the HRA's offer for Lot 2, Block 1, Otter Creek Crossing Third Addition. The HRA officers executed the Preliminary Development Agreement prior to mailing the agreement to the developer with the intent if the agreement and deposit was returned, the process for establishment of the TIF District and PurchaselDevelopment Contract would be authorized. Mr. Walker was invited to the HRA meeting in February to meet the commissioners and give a more detailed description of the nature of their business and proposed project. I assume he'll be bringing the executed agreement and deposit to the meeting. B. Alternative Action: 1. A motion to approve entering into the Preliminary Development Agreement between the HRA and Walker In-Store. 2. A motion to deny entering into the Preliminary Development Agreement between the HRA and Walker In-Store. 3. A motion to table action. 1 . HRA Agenda - 02/07/07 c. Recommendation: After some months of negotiations and an agreeable resolution with Walker In-Store, the HRA Executive Director recommends alternative no. 1. The proposed project lies within the HRA criteria and meets the covenants. D. SUP9ortin~ Data: Cover letter of January 12, 2007, Preliminary Development Agreement, and description of proposed project. . . 2 MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY CTTY OF MONTICELLO ~~ COUNTY OF WRIGHT STATE OF MINNESOTA ~ ~ RESOLUTION NO. s RESOLUTION REQUESTING THE CITY COUNCIL OF THE CITY OF MONTICELLO CALL FOR A PUBLIC HEARING ON A MODIFICATION TO THE REDEVELOPMENT PLAN FOR CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1 AND THE ESTABLISHMENT OF A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-38 (AN ECONOMIC DEVELOPMENT DISTRICT) THEREIN AND THE ADOPTION OF A TAX INCREMENT FINANCING PLAN THEREFOR. BE IT RESOLVED, by the Board of Commissioners (the "Board") of the Monticello Housing and Redevelopment Authority (the "HRA") as follows: WHEREAS, the City Council (the "Council") of the City of Monticello, Minnesota (the "City") established Central Monticello Redevelopment Project No. 1 pursuant to Minnesota Statutes, Sections 469.001 through 469.047, inclusive, as amended, in an effort to encourage the development and redevelopment of certain designated azeas within the City; and WHEREAS, the HRA is proposing a Modification to the Redevelopment Plan for Central Monticello Redevelopment Project No. 1 and the establishment of a Tax Increment Financing Plan for Tax Increment Financing District No. 1-38 therein and the adoption of a Tax Increment Financing Plan therefor, all pursuant to, and in accordance with, Minnesota Statutes, Sections 469.174 through 469.1799 and Sections 469.001 to 469.047, inclusive, as amended; NOW, THEREFORE BE IT RESOLVED by the Boadd as follows: The HRA hereby requests that the Council call for a public hearing to be held on April 23, 2007, to consider the proposed adoption of a Modification to the Redevelopment Plan for Central Monticello Redevelopment Project No. 1 (the "Redevelopment Plan Modification") and the proposed adoption of the Tax Increment Financing Plan (the "TIF Plan") for Tax Increment Financing District No. 1-38, an economic development district, (the Redevelopment Plan Modification and the TIF Plan are referred to collectively herein as the "Plans") and cause notice of said public hearing to be given as required by law. 2. The HRA directs the Executive Director to transmit copies of the Plans to the Planning Commission of the City and requests the Planning Commission's written opinion indicating whether the proposed Plans are in accordance with the Comprehensive Plan of the City, prior to the date of the public hearing. 3. The Executive Director of the HRA is hereby directed to submit a copy of the Plans to the Council for its approval. 4. The HRA directs the Executive Director to transmit the Plans to the county and the school district(s) in which Tax Increment Financing District No. 1-38 is located not later than Mazch 23, 2007. • 5. Staff and consultants are authorized and directed to take all steps necessary to prepare the Plans and related documents and to undertake other actions necessary to bring the Plan before the Council. ., Approved by the Board on February 7, 2007. Chair ATTEST: • MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY CITY OF MONTICELLO i WRIGHT COUNTY 1~v STATE OF MINNESOTA RESOLUTION NO. RESOLUTION CALLING FOR A PUBLIC HEARING ON THE PROPOSED AWARDING OF A BUSINESS SUBSIDY TO WRE, LLC. BE IT RESOLVED, by the Board of Commissioners (the "Board") of the Monticello Housing and Redevelopment Authority (the "HRA") as follows: WHEREAS, Minnesota Statutes, Sections 116J.993 to 116J.995 (the "Business Subsidy Act" or "Act") was adopted in 1999 and governs the granting of business subsidies by units of government; and WHEREAS, the HRA is a grantor within the meaning of the Act; and WHEREAS, a grantor must hold a public hearing before awazding any individual business subsidy if the subsidy will exceed $100,000. NOW, THEREFORE BE IT RESOLVED by the Boazd as follows: 1. The HRA shall meet on April 11, 2007, at approximately 6:00 P.M., to hold a public hearing to consider awarding a business subsidy to WRE, LLC; 2. Staff and consultants aze authorized and directed to take all steps necessary to prepaze the business subsidy agreement and related documents. 3. Staff and consultants are authorized and directed to cause notice of the hearing to be published at least once in the official newspaper of the City not later than 10 days prior to April 11, 2007, and to place a copy of the proposed business subsidy agreement on file and to make such copy available for inspection by the public. Approved by the Boazd on February 7, 2007. ATTEST: Chair • January 12, 2007 MONTICELLO Mr. Brian Walker Walker In-Store 6551 Jansen Avenue NE, Suite 208 Albertville, MN 55301 Re: Preliminary Development Agreement Dear Brian: Congratulations on your decision to relocate to the Monticello Business Center. The City of Monticello looks forward to working with Walker In-Store. Attached is the Preliminary Development Agreement that was reviewed by your legal firm and the Housing and Redevelopment Authority's (HRA) legal firm. You will note the execution of the agreement by the HRA and a request for your signature. Please return the executed document and attachments along with the required deposit Thereafter, I will request preparation of the Purchase and Development Contract, establishment of a TIF District, and schedule a free pre-design meeting between city stafflconsultants and Walker In-Store/architect . The agreed upon purchase proposal: $43,560 for the property described as Lot 2, Block I, Otter Creek Third Addition, no assessments and no trunk fees. The lot consists of approximately 5.82 acres with 1.55 developable acres and power line/pond easements. The agreed upon purchase proposal is based on the assumption outlined in the December 14, 2006 proposal. Brian, should you have any questions, please contact me at 763-271-3208 or ollie.koroochakfalci.monticello.rnn.us If it meets your schedule, I suggest you attend the HRA meeting of Wednesday, February 7,6:00 p.m., Monticello Community Center, 50S Walnut Street, for a introduction of yourself, Walker In-Store, and your proposed project. Again, congratulations. Sincerely, CITY OF MONTICELLO Cb~~cJ\~9 - Ollie Koropchak Economic Development Director Attachment c: Clint Herbst, Mayor HRA File . Monticello City Hall, 505 Walnut Street, Suite t, Monticello, MX 55362-8831' (763) 295-2711' Fax (763) 295-4404 Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362' (763) 295-3170' Fax (763) 271-3272 . Execution copy May 23, 2006 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MONTICELLO, MINNESOTA PRELIMINARY DEVELOPMENT AGREEMENT (Monticello Business Center) THIS AGREEMENT, dated this _ day of , 2006, by and between tbe Housing and Redevelopment Autbority in and for tbe City of Monticello, Minnesota, a public body corporate and politic under tbe laws of Minnesota ("Autbority") and Walker InStore, Inc., a Minnesota corporation ("Developer"): WITNESSETH: WHEREAS, tbe Autbority or tbe City of Monticello ("City") owns certain property within tbe City of Monticello, which property is legally described in Exhibit A attached hereto ("Property"); and WHEREAS, tbe Developer has submitted a preliminary proposal (tbe "Proposal") for tbe acquisition and development of tbe Property (the "Development"), which proposal is attached hereto as Exhibit B; and . WHEREAS, the Developer has requested tbe Authority to explore tbe use of certain public assistance to assist witb tbe Development; and WHEREAS, tbe Authority has determined that it is in tbe Authority's best interest that tbe Developer be designated sole developer of the Property during tbe term of this Agreement; and WHEREAS, tbe Authority and tbe Developer are willing and desirous to undertake tbe Development if (i) a satisfactory agreement can be reached regarding tbe Autbority's commitment for public costs necessary for tbe Development; (ii) satisfactory mortgage and equity financing, or adequate cash resources for tbe Development can be secured by tbe Developer; and (iii) the economic feasibility and soundness of tbe Development and other necessary preconditions have been determined to tbe satisfaction oftbe parties; and WHEREAS, tbe Authority is willing to evaluate tbe Development and work toward all necessary agreements witb tbe Developer if tbe Developer agrees to make the nonrefundable deposit described herein, which is intended, in part, to reimburse tbe Autbority for its costs if tbe Development is abandoned by Developer or necessary agreements are not reached under tbe terms of this Agreement. . NOW, THEREFORE, in consideration of tbe foregoing and of tbe mutual covenants and obligations set forth herein, tbe parties agree as follows: I. Negotiations between tbe parties shall proceed in an attempt to formulate a definitive purchase and development contract ("Contract") based on tbe following: 290729v2 MNI MNI90-00125 . . . (a) the Developer's Proposal, which shows the scope of the proposed Development in its latest form as of the date of this Agreement, together with any changes or modifications required by the Authority; (b) a mutually satisfactory Contract to be negotiated and agreed upon in accordance with negotiations contemplated by this Agreement; (c) such documentation regarding economic feasibility of the Project as the Authority may wish to undertake during the term of this Agreement; and (d) other terms and conditions of this Agreement. 2. .. Itis-the-intentioll-oJ'theparties-that-thisAgreement: (a) documents-the-present-- understanding and commitments of the parties; and (b) will lead to negotiation and execution of a mutually satisfactory Contract for the Development prior to the tennination date of this Agreement. The Contract (together with any other agreements entered into between the parties hereto contemporaneously therewith) when executed, will supersede all obligations of the parties hereunder. 3. During the term of this Agreement, the Developer shall: (a) Submit to the Authority a design proposal to be approved by the Authority showing the location, size, and nature of the proposed Development, induding floor layouts, renderings, elevations, and other graphic or written explanations of the Development. The design proposal shall be accompanied by a proposed schedule for the starting and completion of all phases of Development. (b) Submit an over-all cost estimate for the design and construction of the Development. (c) Submit a time schedule for all phases of the Development. (d) Undertake and obtain such other preliminary economic feasibility studies, income and expense projections, and such other economic information as the Developer may desire to further confirm the economic feasibility and soundness of the Development. (e) Submit to the Authority the Developer's financing plan showing that the proposed Development is financially feasible, and, to the extent Developer seeks public financial assistance in any form (induding reduced land cost, waiver of fees, and tax increment financing), evidence that such assistance is reasonably necessary to make the Development financially feasible. (f) Furnish satisfactory, financial data to the Authority evidencing the Developer's ability to undertake the Development. (g) Cooperate with the Authority and City in replatting of the Property as described in Section 4. 2 . 4. During the term of this Agreement, the Authority agrees to: (a) Commence the process necessary to undertake such public assistance as is necessary pursuant to the terms of the Proposal, including without limitation commencement of actions necessary to create a tax increment financing district that includes the Property. (b) Proceed to seek all necessary information with regard to the anticipated public costs associated with the Development. (c) Estimate the Authority's level and method of financial participation, if any, in the Development and develop a financial plan for the Authority's participation. . (d) Either acquire the Property and grant to the Developer, or cause the City to grant to the Developer, a right of access to the Property for purposes of environmental and soil testing. Developer agrees to indemnify, save harmless, and defend the Authority and City, their officers, and employees, from and against any and all claims, actions, damages, liability and expense in connection with personal injury and/or damage to the Property arising from or out of any occurrence in, upon or at the Property caused by the act or omission of the Developer in connection with Developer's entry on the Property. Further, Developer shall not permit any mechanics', materialmens' or other liens to stand against the Property or any part thereof for work or materials furnished to Developer in connection with the right of entry granted pursuant to this Agreement and Developer agrees to indemnify, defend and hold harmless the Authority and City from and against the same. (e) Commence replatting of the Property, or cause the City to commence such replatting, in order to create the parcel described on Exhibit A. 5. It is expressly understood that execution of the Contract shall be subject to: (a) A determination by the Authority in its sole discretion that its undertakings are feasible based on (i) the projected tax increment revenues and any other revenues designated by the Authority (to the extent requested by Developer); (ii) the purposes and objectives of any tax increment, development, or other plan created or proposed for the purpose of providing financial assistance for the Development, if any, including the determination that such assistance is reasonably necessary in order to make the Development possible; (iii) the best interests of the Authority. (b) A determination by the Developer that the Development is feasible and in the best interests ofthe Developer. 6. This Agreement is effective from the date hereof through , 20-, unless extended with approval of the Authority's board of commissioners. After expiration of the term of this Agreement, neither party shall have any obligation hereunder except as expressly set forth to the contrary herein. . 7. The Developer shall be solely responsible for all costs incurred by the Developer. In 3 . addition, the Developer shall reimburse the Authority for Administrative Costs, as hereafter defined. For the purposes of this Agreement, the term "Administrative Costs" means out of pocket costs incurred by the Authority and City together with staff costs of the Authority and City, all attributable to or incurred in connection with the negotiation and preparation of this Agreement, the Contract, and other documents and agreements in connection with the Development, including without limitation all costs in connection with replatting of the Property and the cost of financial advisors, attorneys, and planning and environmental consultants. In order to secure payment of the Administrative Costs, the Developer shall deliver to the Authority cash or a certified check in the amount of $10,000, such delivery to occur upon execution of this Agreement. If at anyone or more times during the term of this Agreement, the Authority determines that Administrative Costs will exceed $10,000 and that additional security is required, the Authority shall notify the Developer of the amount of such additional security. Within ten calendar days ofreceiptofthisnotiGe,--theDeveloper shall deIiv\lF-to-fu€l AuthoFitytherequired. additional security. The Authority will utilize the funds delivered by the Developer to payor reimburse itselffor Administrative Costs. Upon termination of this Agreement, the Authority will return to the Developer the funds paid by the Developer to the Authority pursuant to this Section 7, less an amount equal to the Administrative Costs incurred by the Authority through the date of notice of termination. For the purposes of this paragraph, Administrative Costs are considered to be incurred if they have been paid, relate to services performed, or are payable under a contract entered into, on or before the date of the notice of termination. . This Section 7 shall survive termination of this Agreement and shall be binding on the Developer regardless of the enforceability of any other provision of this Agreement. 8. This Agreement may be terminated upon 5 days written notice by a party to the other party if: (a) in the respective sole discretion of the Authority or the Developer, an impasse has been reached in the negotiation or implementation of any material term or the completion or execution of any material condition of this Agreement or the Contract; or (b) the Authority determines that its costs in performing under this Agreement well exceed $ I 0,000 and the Developer does not deliver additional security to the Authority pursuant to Section 7; or (c) a party fails to perform any of its obligations under this Agreement. If either party terminates the Agreement under this Section 8, the Developer shall remain liable to the Authority to the extent provided under Section 7 of this Agreement. 9. During the term of this Agreement, the Authority agrees that it will not negotiate or contract with any other party concerning the sale or development of the Property. The Developer shall not assign or transfer its rights under this Agreement in full or in part, or enter into any subcontracts to perform any of its obligations hereunder, without the prior written consent of the Authority. . 10. In the event that the Developer, its heirs, successors or assigns, fail to comply with 4 . . . any of the provisions of this Agreement, the Authority may proceed to enforce this Agreement by appropriate legal or equitable proceedings, or other similar proceedings, and if the Authority is the prevailing party, the Developer, its heirs, successors or assigns, agree to pay all costs of such enforcement, including reasonable attorneys' fees. II. If any portion of this Agreement is held invalid by a court of competent jurisdiction, such decision shall not affect the validity of any remaining portion of the Agreement. 12. In the event any covenant contained in this Agreement should be breached by one party and subsequently waived by another party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent breach. I~- -Notice-or demand or other communication-between or among the parties shall be sufficiently given if sent by mail, postage prepaid, return receipt requested or delivered personally: (a) As to the Authority: Housing and Redevelopment Authority in and for the City of Monticello 505 Walnut Street, Suite I Monticello, MN 55362-8822 Attn: Executive Director (b) As to the Developer: Walker InStore, Inc. 6551 Jansen Ave. N.E., Suite 208 Albertville, MN 55301-9685 Attn: Brian Walker 14. This Agreement may be executed simultaneously in any number of counterparts, all of which shall constitute one and the same instrument. 15. This Agreement shall be governed by and construed in accordance with the laws of the state of Minnesota. Any disputes, controversies, or claims arising out of this Agreement shall be heard in the state or federal courts of Minnesota, and all parties to this Agreement waive any objection to the jurisdiction of these courts, whether based on convenience or otherwise. 16. The Developer hereby agrees to protect, defend and hold the Authority, the City and their officers, elected and appointed officials, employees, administrators, commissioners, agents, and representatives harmless from and indemnified against any and all loss, cost, fines, charges, damage and expenses, including, without limitation, reasonable attorneys fees, consultant and expert witness fees, and travel associated therewith, due to claims or demands of any kind whatsoever caused by Developer or arising out of actions of Developer (and excluding those caused by or arising out of the Authority's or City's own acts or conduct) with regard to (i) the development, marketing, sale or leasing of all or any part of the Property, including, without limitation, any claims for any lien imposed by law for services, labor or materials furnished to or for the benefit of the Property, or (ii) any claim by the state of Minnesota or the Minnesota Pollution Control Agency or any other person pertaining to the violation of any permits, orders, decrees or demands made by said persons or with regard to the presence of any pollutant, contaminant or hazardous waste on the Property deposited or released by Developer; and (iii) or 5 . . . by reason of the execution of this Agreement or the performance of this Agreement. The Developer, and the Developer's successors or assigns, agree to protect, defend and save the Authority, and its officers, agents, and employees, harmless from all such claims, demands, damages, and causes of action and the costs, disbursements, and expenses of defending the same, including but not limited to, attorneys fees, consulting engineering services, and other technical, administrative or professional assistance incurred by the Authority as a result of the actions of Developer. This indemnity shall be continuing and shall survive the performance, termination or cancellation of this Agreement. Nothing in this Agreement shall be construed as a limitation of or waiver by the Authority of any immunities, defenses, or other limitations on liability to which the Authority is entitled by law, including but not limited to the maximum monetary limits on liability established by Minnesota Statutes, Chapter 466. ... _. _ _ll'.LW..lTNESS WHEREOE,.1heAulhorityhas-causedlhis Agreernentto be duLy executed in . its name and behalf and its seal to be duly affixed hereto and the Developer has caused this Agreement to be duly executed as of the day and year first above written. [NAME OF DEVELOPER] By Its: 6 . . . By Its Chair By (:)~ \~,,~. ~ ~ Its Executive Director 7 EXHIBIT A . Description of Property LOT 2, BLOCK 1, OTTER CREEK CROSSING 3RD ADDITION, CITY OF MONTICELLO, COUNTY OF WRIGHT . . A-I . - - t- II .1] 1'1 " I' '~II ! II~d; ,I Il~1 K ~ "!'I! ~ I " ~ I!i =1= ~ i li,i 1~11' IP / ij ~ III j {l,'.i II I !..l!d:[ ~ ',.-J' ,,'I! ,-:l h I "i5I! I · II-I !!.: ,'Iii" I q lib ,:!i ~ II 00. '-TI . = '. .~ ,n -,{r-: o~ E- t; .. . ~goJ'l , - ~ t:r!lL,...;---- ::;"1..; ;?O6- " ^ " b /~ ,,; , //~,/ --~--..,. , ' , . '; " .J, ~' ~ I, ~-------- - ----""-~ ----------~/~- /'::>~ ///'i /"'1>" i" /~ .,,!'f-,,";.( I. / , ;\<r .. , /.,.;>\".;i' ,..; -a..., /#""/'~ " ,~..-1 "/ l~/'; I _/ I, / ,.rl' l~ "'/" ,'- '. I <r ....,/:;;~ fa '.. ,,~\.,' ~~<:. L.. I ~... -. /"... Ilrl'/:"-~' -I ,'~_/' .llO.I..oalti.._\ ,~.. " "'10..... ,.%,." -,./ J . N ^ _N .~ "0 o~: g<;l ~ ..(_u c~ o' og~ I-rnn ~ ~ ~ ~ ~ ~ ~ :d ,/., " , ' " , -' ) .l/UJ~ lit:::;>:'; _/ : ~ .' ~ .J:)"f ..--: -..,-.- . .~ ;: ,.. I' .<> ;;~ 1- / ....=- .~I ,,~ ~~- -'" " ~" o~ ~'" , , . : il , .~ , l~ r /~i! ~ l/w1: I~ ~ ..t.;.1"" I; ,,-'I' ~ _~'i~# .~l}~'~ #'<1' /"j....;;I ! !oP'!jl /0">~' II: ;. !-~~,.6~/~ II ,N ,Il ./ ,/'f.5:'.~\ "": . l I i , -~ . , ,~~/;:/:- ,_-c. . , ,~-...=~ n.t ~l~ - 3....~H ----~ u IOUO.~~~", EXHffiIT B . Project Proposal . . B-1 "INVEST IN A CITY WITH A FUTURE" MONTICELLO, MINNESOTA INTERST A TE 94 ACCESS - OTTER CREEK CROSSING 1\ ~ _q_e~tS" 0J December 14, 2006 \ b~ '\f\ PREPARED FOR: Brian Walker Walker In-Store 6551 Jansen Avenue NE, Suite 208 Albertville, MN 55301 Assumptions: At least 11 full-time permanent jobs at an average hourly wage of at least ------- -Si8.8ipej: Ilollr with.()uil)enefi1:s~vTthEi two years.--- - ----- Construction of at least a 10,240 sq. ft. production/office building at a minimum assessed value of $50 per square foot or $512,000. Execution of Preliminary Development Agreement and $10,000 non-refundable deposit. Execution of Purchase and Private Development Contact with earnest money. Value: . - Approximately 1.55 acre developable site platted (Lot 2, Blocl, 1, Otter Creek Third Addition) - I-94 location with direct access via Trunk Highway 25 and Chelsea Road West. - Nine-ton all-weather road constructed to 44 foot width curb to curb (Chelsea Road West and School Blvd.) - Eight-inch water and sanitary sewer service lines extended to adjacent lots approximately every 400 feet. - Stann sewer stub inlet pipes to undeveloped property. - Eight-foot wide bituminous pathway along south side of Chelsea Road and cast side of Dalton Avenue. - NO assessments. - NO water, sanitary sewer, and storm sewer trunk fees. - Recorded Declaration of Covenants to protect your investment. - Mat'ket Price, $3.00 per square foot plus 2007 trunk fees. PROPOSAL: $43,560 for 1.55 aCl'e developablc lot (~t 2. Block 1, Otter Crcek Third ~ total acres is 5.82 acres includes power line and pond easement.), no assessments and no trunk fees. If-." l.S ............ .,:tc (]QQXJSQ) :~ ~L~:. LJ, 1t... .3\...ll~ub 1-/1 ;........ iJ ,,1 UUh L_L~ ~f.1L-O;Lu'U3 (-'\;;1 ::tq 1\ VI :5116,1.100 tJlu.J tl Ltl T. I' r !r:~6,-:'?:t:" Subject to site design approvals, review by Kennedy & Graven, and mutually agreement upon site. Proposal good thl'Ough January 31, 2007. . Ollie Koropchal" Economic Development Director, 763-271-3208. Monticello City Hall, 505 Walnut Street, Suite I, Monticello. MN 55362.8831' (763) 295.2711' Fax (763) 295.4404 Office of Public Works, 909 Golf Course Rd, Monticello, MN 55362 . (763) 295.3170 . Fa, (763) 271.3272 ...' " "" "" "" ~ "" 24'-0' 2'-0' <) -<1( ;>. O~ ~ ('-- '\..~ 00 ,p;>. , RETAiNING WALL "" DRAINAGE AND UllUTY EASEMENT .",RlfY EXACT lOCATION \\HH SlRVEY / ~. /'" -o~~ o. & '\\\"'1- ./.,,~~ '" /ib,'S' 'C\'~\ -:,'S S 'C'C' srrr DATA ZONING... 1-1" AREA - 2SJ.652 s.r. - 5.62 ACRES BUILDING - 10.2-40 GROSS s.r. :40:0; OffCE (M96 s.r.) :60:0; WAREHOUSE (6.14+ s.r.) PARKING DATA ornCE - ~.096 GROSS s.r. LESS 10'" - 3,666 NET s.r. 3.666 s.r. AT 3 + 1/200 - 21 STAlLS WAREHOUSE - 6,1<< S.F. LESS 1 ~ - ~,5JO NET s.r. 5.= s.r. AT 6 + 1/500 - 19 STAlLS 40 STAlLS REQUIRED 40 STAlLS PRO\IIDEO /' /' /' /' /' . ' I \ I \ . . . . . . z o F= ~ W 1-- ~' F~ ::J o 1Il "'~ z o F= ~ w !ii- \!!' F~ is 1Il ":;1 . . . HRA Agenda - 02/07/07 6. Consideration to assess the Transformation Home Loan Prol!ram and approve continuation of the Prol!ram. A. Reference and backl!round: The HRA initiated the Transformation Home Loan Program in 2005 earmarking $150,000 from pooling dollars ofTIF District No. 22 to fund the renovation program. The HRA requested an annual assessment of the program. In 2006, the HRA agreed to continue the program and modified the criteria. The HRA has approved three Transformation Home Loan Programs since its initiation; however, only two projects met the program definition of "substandard" through the inspection process by the City Building Official. Transformation Beginning Fund Balance $150,000 Loans: Petersen (1023 West Broadway) Breiwick (511 Elm Street) $19,846 $20,000 Ending Fund Balance $110,154 In addition to the application that did not meet the definition of "substandard", there were about seven other inquiries about the program in 2006. Attached is the 2006 Application Package which outlines the criteria and the 2006 marketing flier for your review. B. Alternative Action: 1. A motion to continue the Transformation Home Loan Program for 2007 with or without changes to the criteria. 2. A motion to discontinue the Transformation Home Loan Program. 3. A motion to table any action. 1 . BRA Agenda - 02/07/07 c. Recommendation: The program is in place, a good program, and funds are available. The HRA Executive Director recommends continuation of the program. Two considerations for amending the criteria: I) Increase assessed market value. 2) Some contractors have inquired about the program, perhaps some language about intent to sell for purpose of owner occupancy. D. SUDDortine Data: Transformation Home Loan 2006 Application Package and marketing flier. . 2 . . . . DEVELOPMENT SERVICES Economic Development Director Phone: Fax: E-mail: (763) 271-3208 (763) 295-4404 ollie.koroochak\aJ.ci. monticello.mn.us Housing and Redevelopment Authority in and for the City of Monticello, Minnesota TRANSFORMATION HOME LOAN 2006 APPLICATION PACKAGE PURPOSE A "home transformation" means a major home remodel, increasing its livable space and its value. Residents who enjoy living in the core city and know the benefits ofliving within walking distance of the Mississippi River, the community center, and the schools are choosing to adapt and redevelop their existing homes to meet their current needs. The Transformation Home Loan was developed to provide incentives for homeowners or home buyers in Monticello to begin major redevelopment/remodeling activities. The Transformation Home Loan seeks to promote and foster a vibrant core city by: · Encouraging redevelopment of structurally substandard homes. · Encouraging home owner-occupancy. · Encouraging investment into the core city. · Increasing housing market value. TARGET AREA The Transformation Home Loan program is available for existing single-family detached homes located within the core city described as: · North ofI-94. · East of Otter Creek · South of Mississippi River. · West of Hospital and Middle School. TARGET VALUE The Transformation Home Loan program is available for existing single-family detached homes with a 2006 assessed market value of $175,000 or less. I . . . TARGET CRITERIA The Transformation Home Loan program is available for existing single-family detached homes that meet the redevelopment qualification requirement of structurally substandard as defined by Tax Increment Financing Law, 469.174. "Strncturally substandard" shall mean containing defects in structural element or a combination of deficiencies in essential utilities and facilities, light and ventilation, fire protection including adequate egress, layout and condition of interior partitions, or similar factors, which defects or deficiencies are of sufficient total significance to justifY substantial renovation or clearance. A building is not structurally substandard if it is in compliance with the building code applicable to new buildings or could be modified to satisfy the building code at a cost of less than 15 percent of the cost of constructing a new structure of the same square footage and type on the site. The municipality may find that a building is not disqualified as strncturally substandard under the preceding sentence on the basis of reasonably available evidence, such as the size, type, and age of the building, the average costs of plumbing, electrical, or strnctural repairs, or other similar reliable evidence. The municipality may not make such a determination without an interior inspection of the property, but need not have an independent, expert appraisal prepared of the cost of repair and rehabilitation of the building. FUNDING SOURCE The Transformation Home Loan program is a one-year pilot program commencing January I, 2005, with a limited amount of funds, $150,000. The program was extended in 2006 for one year. Program Features: ~ Pre-Remodeling Condition Report. The Monticello Building Department must assess the age of mechanical systems, measure square footage, and otherwise note the condition of the home prior to remodeling. Please call 763-295-3060 for an appointment. ~ The Transformation Loan. The Monticello Housing and Redevelopment Authority (HRA) characterized the Transformation Loan as an "incentive loan". The incentive is just a little more fmancing with terrific terms, so that a homeowner may feel equipped 2 . . . to move forward on their remodeling project. To apply for the loan, the cost of your remodeling project must be $30,000 or more. The loan may be 25% of your remodeling project, when the cost of remodeling is $30,000 or more. The maximum loan amount is $20,000. The loan is interest-free, and is payable upon sale of your property or forgiven after five (5) years. If you have questions, call 763-271-3208. Funds are limited. Application Procedure: 1. Prior to starlin!!: vour oroiect. obtain this application package which includes the builder requirements and summary of design consideration, loan application form, a list ofremodelers (contractors), and a remodeler form for remodelers who have not worked under the program previously. 2. Submit a complete application. A commitment of funds can only be made when all required items have been received. Please note: The City of Monticello's Building Department must approve all building plans, and may have requirements independent of loan requirements. All setback and zoning requirements must also be met. 3. Applications will be reviewed on a first-come, first-served basis, with priority being given to projects that are most ready to move forward. Project readiness will be determined by those that have completed drawings, have total project funding in place (e.g. have a loan commitment or have closed on mortgage financing), and lor have a remodeler under contract. Funding will not be held for projects that are not ready. 4. Once an application and other required documents have been received and reviewed, a loan commitment will be made. Meeting the eligibility criteria does not entitle an applicant to funding. The distribution of funds is the sole decision of the Housing and Redevelopment Authority. Conditions of the Transformation Incentive Loan: 1. Submitted applications will be reviewed for appropriateness and completeness. Projects generally must be value-added improvements such as renovation or expanding space. Plans will be reviewed for design considerations. 2. The loan will be calculated at up to 25% of the initial contract price if the contract price for remodeling is $30,000 or more, but not to exceed $20,000. The commitment of funds is made at the beginning of the project. 3 . . . 3. Funds are limited. You may want to call ahead of time to find out if funds are still available. 4. A Pre-Remodeling Condition Report is required by the HRA to meet city financing and auditing requirements. A property evaluator (not an appraiser) contracted by the HRA will spend approximately an hour at your home to assess the age of mechanical systems, measure square footage, and otherwise note the condition of the home prior to remodeling. This is a one-time report for HRA records and incurs no cost to the homeowner. 5. Loans will not be considered for work in progress or work completed. The Transformation Loan can only be considered for projects not yet begun. 6. You will be sent a commitment letter verifying the reservation of funds to be provided at closing. A copy of the letter will be provided to your lender. 7. A copy of a letter of commitment from your lender verifying approval of the primary loan is required. 8. The Transformation Home Loan funds will be deposited in an escrow account and disbursed by a title company. Upon satisfactory verification of work in progress or upon completion, the escrow account will be drawn upon in pro-rated increments simultaneously as funds are drawn upon from the primary loan to make payments to the remodeler. Work must be completed prior to final disbursement. 9. The Transformation Home Loan shall be secured by a Mortgage Deed and Note. 10. Final payment of the committed Transformation Loan must be disbursed by the title company by no later than six months after the date of lender's closing. Please be informed that financial data shall be submitted to the Lender for purposes of this loan application. However, the fact that you apply for a Transformation Home Loan, the final loan amounts are considered public data according to Minnesota Statute Chapter 13. General Remodeler and Design Criteria: The HRA does not recommend any particular remodeler. Selected remodelers must complete a Remodeler Form, and comply with the general criteria established by the Monticello HRA. "Sweat equity" maybe applied toward eligibility costs associated with interior improvements such as painting, flooring, etc. or by a Minnesota Licensed Residential 4 . Contractor and when verified by a certified appraisal at the applicant's expense. Summary of Remodeler Reauirements It is the homeowner's responsibility to check on contractors thoroughly before selecting them. Your builder should: I. Demonstrate financial capability by providing a statement from a financial institution of sufficient construction capital. 2. Possess adequate Builder's Risk, Comprehensive General Liability and Worker's Compensation insurance coverage. 3. Have a written warranty policy to be shared with the homeowner or written evidence of commitment to perform warranted repairs required by the Minnesota State Statute. If the remodeler has not participated in the Transformation Home Program previously, the HRA will require a Remodeler Form to be completed. A form is attached. Summary of Housinl! Desi~ The HRA will require the following: I. Each home shall remain a detached single-family dwelling. 2. Each home shall be owner-occupied. . 3. Garage space may be maintained or expanded, but not reduced. 4. The house building lines, roof lines, doors and window placement should minimize blank wall mass. House and garage orientation to the street must present a balanced and pleasing view from all sides. 5. Exterior materials should be low maintenance. Masonite type siding materials are not acceptable. 5 6. The site must be fully landscaped, including attractively placed foundation plantings and complete sod installation, lot line to lot line. 7. Adjoining properties must not be disturbed by the construction process. 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'" ;:: <::J ~ '" '" -. ~ S;1 <::r-r; ;;;-~ ;::: '-;:,-,.... ~ e.. ;;::~ ~ '" a ..... fAir N8" ,0 ;:: o~ 0'" .... o~ o ;:: '-':: o ;::: .... n to - - o -l .., o ::I tn -. o .., 3 o - -. o ::J ::t o 3 to r- o o ::I ;:r- a :::; ;;; '" '-' () ~ ::T ~ "d n m '-' ~ 5 () ..., -. 0 " ~ I' IT'- >-< '" ~ .-.,. 3: c 0 () It - N 0 p- ~ '" n <:! <:: ;:;J a ~ ~ en "D ::T ~ '" ;:; ..,.., -. C~ . . . BRA Agenda - 02/07/07 7. Consideration to review estimated revenues and expenditures for Otter Creek Crossin!!: and assess need to amend discount price of $1.00 per sa. ft. A. Reference and back!!:round. At the HRA meeting in December, the commissioners reviewed a confusing spread sheet and requested in simple terms the estimated costs associated with the business center. Using the assessment roll for Phase I improvements and estimated costs for Phase II and III and grading costs, Shuman calculated the interest amount for the total improvements. Land cost include Chadwick's 120 acres plus interest and the Rask property. Of the 122.5 acres purchased or to be purchased, according to WSB about 79 acres are developable. The undevelopable land consist of wetlands, roads, and power line and ponding easements. The estimated expenditures for land and improvements based on developable acres is $2.31 per sq. ft. without trunk or platting fees. The estimated revenues from current land sales with projected TIF is $2.41 per sq ft.. Staff and WSB both agreed the HRA should not have to pay for the Storm Sewer ponding fee of $8, 176 per acre since this is part of the improvement costs. The remaining acres for sale is estimated to be 53.3 acres. The per sq. ft. expenditures should be set; however, the per sq. ft. revenue needs to increase. Remember, the current market price is $3.00 per sq. ft. The Rask parcel at the entrance to the park (Chelsea & 90th) I believe is currently zoned commercial which would command a higher per sq. ft. purchase price. I've mentioned to a couple of developers that we are looking for a office type project at this comer with perhaps some glass to set the tone of the business center. The HRA may want to discuss charging for some of the property under the power lines as it can to used for hard surface; however, buildings can not be constructed in these areas. I . . . EXPENDITURES: 120 acres 2.5 acres 122.5 acres Improvements MONTICELLO BUSINESS CENTER OTTER CREEK CROSSING February 2007 $3,423,427 P&I for land acquisition $ 207,203 Rask land acquisition $3,630.630 Sub-total $4,310,438 P&I TOTAL EXPENDITURES $7,941,068 P&I 79 developable acres $100,520 per acre or $2.31 per sq ft REVENUES: Dahlheimer Karlsburger AVR Walker In-store Lift Station $ 536.661 Cash 8.6 acres $ 411,924 TIP NPV $ 111,018 Cash 2.124 acres $ 142,113 TIP NPV $1,385,208 Transfer 12 acres $ 43,560 Cash 1.5 acres $ 40,000 TIP NPV $ 127,413 Transfer 1.5 acres TOTAL REVENUES $2,697,897 25.724 developable acres $104,878 or $2.41 per sq ft Platting ($.10 per sq ft) and trunk fees ($.20 per sq ft) not included in expenditures. 2007 Fees $3,065 per acre Sanitary Sewer $3,245 per acre Storm Sewer Net $2,267 per acre Water I . ; - I ffi -" E " 0 z 0 ~ :;; ~ ~ '" >- ~ I " 0: 0> . W '" h u: "- 0 ~ z " "- 0 i ,; -:$=- 0 '" ~ w r:: z ~ 0: w "- r:: 0 0: t: 13 "- 0 Cl I z llJ (!) llJ ...J . /1: , I ~ ~ . , . , j -lli r~ : : I I i , , ,,/,/ / ~o/' #.. ~'" ~/' II / / I"I' " ,/,/ ~ i! z w ::l w ~ w ~ " ~ ~ ~ -lJ ittf. ) ! ! I' . <- ~ ~ . ,,' L__ !l ,', L.------J-----i7- --- I / ; i ,/ /' __ ~____ ______...L___ (f) '" w ~ C2 z <( woo C,) 5 :j (f) 0 w (f) 1Il () ~ i: 1i (f) '" 0 " w :;; 1Il "- U. 00 0 -' a: -' "- >- UJ I- I- ~ Z U I- w Z a: o a: :;; a t ~', 11 j '" j~ I J't ,~ ! ~l'! I" , ! I II! <i I' j H CI:lft II ! ~~'H l . . . BRA Agenda - 02/07/07 8. Consideration to resDond to nel!Otiations bv Steve Conrov (carrv-over.) A. Reference and backl!round: At the HRA meeting in December, the commissioners took a "to think about it" approach relative to the purchase of the Froslie property. This decision was based on the fact that the Springborg property had sold and the HRA's interest to purchase both properties. According to Conroy via Wright County documents, the Springborg property sold on a Contract for Deed. The amount subject to the CFD is $250,000, which would not include a down-payment. Thus, according to Conroy, the HRA knows the sale price was at least $250,000. Negotiation Recap: Oct 12 HRA Oct 23 Counter Nov 3 HRA Nov 8 Counter Froslie $286,703 $500,000 $327,789 $500,000 2 yr free rent Flexible terms Occupy 2009 F-utilities, HRA taxes Springborg $ 76,747 $193,000 Sold for At least $250,000 $ 87,745 Nov 20 Counter Dee 6 HRA Froslie $400,000 mortgage "Think about it" 10 year to stay Conroy received an email from Froslie on December 28 inquiring to the status of the negotiations. It was determined since the HRA did not meet in January, this would be on the agenda in February. Attached are December emails. I Ollie Koropchak .rom: ent: To: Subject: Barger, Brad D. [bbarger@gosuburban.com] Thursday, December 28, 2006 10:06 AM Ollie Koropchak; Steve Andrews (E-mail);Lahr.DarrinF;william.fair@state.mn.us; dfrie@wrightsherburnerealty.com RE: Kathy Froslie I think we can Ollie, can you Thanks Brad address it in our February meeting; however we should let her know this. please give Steve a call so he can keep her informed? -----Original Message----- From: Ollie Koropchak [mailto:Ollie.Koropchak@ci.monticello.mn.us] Sent: Thursday, December 28, 2006 10:01 AM To: Barger, Brad D.; Steve Andrews (E-mail); Lahr, Darrin F; william.fair@state.mn.us; dfrie@wrightsherburnerealty.com Subject: FW: Kathy Fros1ie I received this message after Brad and I cancelled the HRA meeting of January 3. A notice of cancellation was mailed to you yesterday. In lieu of Conroy's message, do you feel a special HRA meeting should be called in January to address the Froslie property? Let me know. Ollie -----Original Message----- From: conroylaw@tds.net [mailto:conroylaw@tds.net] Sent: Thursday, December 28, 2006 9:01 AM To: Ollie Koropchak ~ubject: Kathy Fros1ie ~llie, I received a phone call from Kathy Froslie yesterday inquiring as to the status of negotiations on her property. I told her that the HRA was "thinking about it" and that I may get back to her after the January HRA meeting. Please let me know the status of this matter after the next HRA meeting. Sincerely, Stephen R. Conroy . 1 om: ent: To: Cc: Subject: conroylaw@tds.net Friday, December 08,200611:17 AM Ollie Koropchak dfrie@wrightsherburnerealty.com Re: HRA chak Ollie, From Wright County Recorder documents, it appears that Mr. Springborg sold his property on a Contract for Deed. The amount subject to the Contract for Deed is $250,000, which would not include a downpayment. Thus, we know the sale price was at least $250,000. Sincerely, Stephen R. Conroy > > From: nOllie Koropchak" <Ollie.Koropchak@ci.monticello.mn.us> > Date: 2006/12/07 Thu PM 04:20:37 GMT > To: <conroylaw@tds.net> > CC: <dfrie@wrightsherburnerealty.com> > Subject: HRA > > Given the latest and other emails since the November HRA meetings, the > commissioners at their December meeting decided "to think about it." 'They are interested to know what the Springborg building sold for. They discussed the difference between the $500,000 and $327,211 ($172,211) with occupancy through 2009 on the Froslie property and they didn't appear interested in the suggestion of a 10 year operation. Could you > let me know the selling price? Again, HRA decided to think about it. > Please feel free to call me, 271-3208. Ollie > > > I 1 - Page 1 of 1 I Ollie Koropchak From: Ollie Koropchak Sent: Thursday, December 07,200610:21 AM To: 'conroylaw@tds.net' Cc: dfrie@wrightsherburnerealty.com Subject: HRA Given the latest and other em ails since the November HRA meetings, the commissioners at their December meeting decided "to think about it." They are interested to know what the Springborg building sold for. They discussed the difference between the $500,000 and $327,211 ($172,211) with occupancy through 2009 on the Froslie property and they didn't appear interested in the suggestion of a 10 year operation. Could you let me know the selling price? Again, HRA decided to think about it. Please feel free to call me, 271-3208. Ollie I I 12/7/2006 . . . BRA Agenda - 02/07/07 9. Consideration to reschedule the BRA annual meetinl! date in ADril. A. Reference and backl!round: The commissioners are asked to consider re-scheduling the annual meeting date from Wednesday, April 4, 2007, to Wednesday, Aprilll, 2007. Same time of6:00 p.m. The request is due to the HRA Treasurer returning to the office on April 9 for review of the annual HRAlTlF Report prepared by Paul Mastey, Senior Accountant, and to allow time for agenda preparation by the Executive Director who returns to the office on April 2. B. Alternative Action: I. Motion to reschedule the HRA annual meeting from April 4 to April II, 2007. 2. Motion to affirm the regular meeting date of April 4, 2007. 3. Motion of other recommended dates. 1 . . . 10. BRA Agenda - 02/07/07 Consideration to authorize payment of BRA bills and accept the Ehlers' 2007 hourly rate increase. A. Consideration to authorize navment of BRA bills. Attached December invoices are from Ehlers, Conroy, and Kennedy & Graven, and February 2007 TIF semi-annual payments. Recommendation to authorize payment. B. Consideration to accent Ehlers' 2007 hourly rate increase. Ehlers notified the HRA on December 12,2006, of their hourly rate increase of$5.00 commencing January 2007. On October 12, 2005, Ehlers proposed a rate increase to $150.00 and then increase of$5 per hour annually for the next four calendar years. On December 7, 2005, the commissioners approved an increase infees for Ehlers as proposed, with a rate of$150 per hour, and annual increases to be approved by the HRA. Therefore, this agenda appears on the HRA agenda. Recommendation to accept Ehlers' hourly increase of $5.00 commencing January 2007. Attached is December 12, 2006 letter from Ehlers. 1 . . . Ehlers & Associates, Inc. Leaders in Public Finance 3060 Centre Pointe Drive Roseville, MN 55113 (651) 697-8500 Financial Advisory Services Invoice City of Monticello 505 Walnut Street, Suite 1 Monticello, MN 55362-8822 Project: General Date Worked k 11-01-2006 MTR 11-01-2006 SK 11-21-2006 MTR 11-22-2006 MTR 11-27-2006 MTR 11-27-2006 MTR , ; '--\ \.p ~ 0 \ ".).\3 Description of Services ~( Presentation Qon' abatement Meeting with city to discuss plan Discussions with Rick on Xcel agreement and review Review model and discuss with Rick xcel value Prepare for meeting on xcel agreement Worksession with Council on xcel Amount Due This Invoice Invoice #: Invoice Date: ?> \ q/\ Hours f'1'75 .75 \2., \... 2.00 1.50 . 1.50 '--.. 9.25 334001 December 8, 2006 ~ \? - \-:; otQ Amount .~ 262.50 no charge 131.25 350.00 262.50 262.50 $1,268.75 $1,268.75 f;, \~.rl'>' I \\ ;"i" ( . ..J:.\~.~~- 0 \ <:'.- ,"", ::fi (Detach at perforation and return lower portion to Ehlers & Associates, Inc_) City of Monticello Amount Due This Invoice Please remil payment to: Ehlers & Associates, Inc. Attn. Accounts Receivable 3060 Centre Pointe Drive Roseville, MN 55113 Invoice #: Invoice Date' Due Upon Receipt 334001 December 8, 2006 $1,268.75 . City of Monticello Accounts Payable 505 Walnut Street, Suite 1 Monticello, MN 55362 Throuoh October 31.2006 MN190-00101 General HRA Matters . Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 (612) 337-9300 Tax ID No. 41-1225694 December 6, 2006 Total Current Billing: I declare, under penalty of law, that this account, claim or demand is just and correct and that no of it has been aid. . 127.50 127.50 CONROY LAW OFFICE, Ltd. ~, ~ Stephen R. Conroy ~CLIf"~f~ HRA c/o Ollie Koropchak ADDRESS: City of Monticello BILLING PERIOD: DATE 12/28/2006 505 Walnut Street Monticello, MN 55362 , January-07 ACTIVITY Call from Froslie; E-mail to HRA ~O l-Jl,~'~ a ` ' ~ d ~~~ ~ ~a~ ~~~ U`" • 261 East Broadway P.O. Box 999 Monticello, MN 55362 (763) 295-6667 Telephone (763) 295-6666 Fax Email: conroylaw@tds.net HOURS 0.2 TOTAL HOURS: 0.2 0_2 Hours times $150.00 per hour = $ 30.00 Amount owed from December Billing: $ 60.00 Less retainer (if applicable): $ 0.00 Payment received: 1/24/2007 $ 60.00 $ 0.00 Miscellaneous: $ 0.00 Interest $ 0.00 TOTAL AMOUNT DUE: $ 30.00 Please remit payment by February 12, 2007. Make check or money order payable to "Stephen R. Conroy, Attorney" and remit to P.O. Box 999, Monticello, MN 55362 PLEASE CHARGE MY VISA OR MASTERCARD ACCOUNT ACCOUNT # EXPIRATION DATE PRINTED NAME SIGNATURE a..-.v ~.~_~_ .; _ , ____ =-- _ Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 JAN 3 1 2007 (612} 337-9300 41-1225694 CITY 01= MONTICELLO January 18, zoo? Invoice # 75188 City of Monticello Accounts Payable 505 Walnut Street, Suite 1 Monticello, MN 55362 • U MN190-00101 General HRA Matters Through December 31, 2006 Hours For All Legal Services As Follows: 12/1/2006 SJB Phone call with O. Koropchak regarding: HRA accounting, 0.25 land acquisition for AVR relo Total Services : $ Total Services and Disbursements:$ Amount 47.50 47.50 47.50 OK TO PAY? o~t,~. Coy' ~: '~b'3 _ ~4~~~ ~ `~ ~~ -f7 g mot, ~ ~~ ~i-6~'~6~z. a- ~ --, U JAN 3 1 2001 01= MONTICELL if Monticello December 31, 2006 Page: 2 Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 MN190-00123 Economic Development TIF I-37 (Karlsburger Foods) Through December 31, 2006 For All Legal Services As Follows: 12/13/2006 NKE Send recorded documents to client. Total Services For All Disbursements As Follows: Postage Photocopies • Total Disbursements: $ Amount 27.50 27.50 3.27 14.20 17.47 Total Services and Disbursements:$ • 44.97 c oa.~. OK TO PAY?- ~rr ~ Initial: ~- ~-~ ~- Hours 0.25 $ . Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis. MN 55402 (612) 337-9300 41-1225694 December 6. 2006 Invoice # 74622 1 ~ ~ \il,\, \0 A \ ~. L,l \Q~I') \ ~() ''--{ 0 I, CD~ \- '?::>S 'd-, co <Lu \- ''''::,(0 ':1.\'0, L_\~ S~\..( ~o "-\0 '9-Cle-L City of Monticello ( I I , , ! MN190-00101 General HRA Matters 7- Accounts Payable 505 Walnut Street. Suite 1 Monticello. MN 55362 Hours > 0.50 \ \ , I I , ~ . Through October 31 . 2006 For All Legal Services As Follows: ,L'--'--- 10/4/2006 MNI Review district certification mater~ for TIF 1-34, 1-35. .' , and 1-30--. '-..."._---,-- 10/10/2006 SJB Phone call with O. Koropchak re: PDA for Otter Creek; search for form.__--' .- .-- - - --- (;\ 3 .. L,\ l, '~ 0 \ .' t~~ _~7~:~al Services: Total Services and Disbursements: $ Amount 80.00 __025 '".(_ "~7~.. .. __~~_~ _J $ 127.50 127.50 o\l.e.. . '- "'). - \. Y). .. 0 '--c .16 ~.~~~OY LAW OFFICE, Ltd. & LLlErlJ'r'NYA'ME~ ADDRESS: HRA c/o Ollie Koropchak City of Monticello 505 Walnut Street Monticello, MN 55362 BILLING PERIOD: December-06 DATE 12/6/2006 ACTIVITY Email to client 12/8/2006 Check Recorder documents; Correspondence to client ')\'6 ~Cl'-\ 0 c,,?'? ',- \ l, ~ VJ_O'\ \_ J . TOTAL HOURS: 0.4 0.4 Hours times $150.00 per hour = $ 60.00 Amount owed from November Billing: $ 933.60 Less retainer (if applicable): $ 000 Payment received: 12/13/2006 $ 930.00 interest refund $ 3.60 Miscellaneous: $ 0.00 Interest $ 0.00 TOTAL AMOUNT DUE: $ 60.00 . Please remit payment by January 12, 2007. Make check or money order payable to "Stephen R. Conroy, Attorney" and remit to P.O. Box 999, Monticello, MN 55362 PLEASE CHARGE MY VISA OR MASTERCARD ACCOUNT ACCOUNT # EXPIRATION DATE PRINTED NAME SIGNATURE 26 \ East Broad\\,'uy P.O. Box 999 Monticello, MN 55362 (763) 295-6667 Telephone (763) 295-6666 Fax Email: conroylaw@tds.net HOURS 0.2 0.2 . Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 (612) 337-9300 41-1225694 December 15, 2006 Invoice # 74675 City of Monticello Accounts Payable 505 Walnut Street, Suite 1 Monticello, MN 55362 MN190-00101 General HRA Matters Through November 30, 2006 For All Legal Services As Follows: 11/21/2006 SJB Review fax from 0 Koropchak regarding Diamond Sports TiF eligibility 11/22/2006 SJB Emails to/from 0 Koropchak regarding Diamond Sports Total Services: Hours Amount 0.30 57.00 . 0.30 $ 57.00 114.00 Total Services and Disbursements:$ 114.00 . _Q_\\~L~ J.-\ ?~~I.~ ~e \ .? 0,-\ 0 ~ \-')...o'L . Page: 2 Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 City of Monticello November 30, 2006 MN190-00121 Economic Development TIF (Dahlheimer Distributing) For All Disbursements As Follows: 11/14/2006 Commercial Partners Title, LLC - Ownership Search for Otter Creek and Otter Creek Crossing 1 st Addition Total Disbursements: 300.00 $ 300.00 Total Services and Disbursements: $ 300.00 . . "/ ._DJ1}~;;.,. '). \ ~ . L..\.~ '? t> \. ~o ~ 10 ~ "t;t::~ \_,?>1..4 ~ CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET' SUITE 1 MONTICEllO, MN 55362 763-295-2711 17-1 9TO NO. 87963 ~ DATE CHECK NO. WELLS FARGO SANK MONTICELLO, MINNESOTA 55362 .(76:1) 295-2290 AMOUNT 01/18/2007 87963 SEVENTEEN THOUSAND ONE HUNDRED SIXTY ONE AND 04/100 DOLLARS $17,161.04 PAY TO THE ORDER OF TWIN CITY DIE CASTINGS CO. ATTN: DOUG HARMON 1070 SE 33RD AVENUE MINNEAPOLIS MN 55414 i:j~~;:!~':;~::::?':::, ............~/,' ......' .:(:>:::::.;...::..;...",c::::.:. .....,.:.;,..-.:)::::::.:.:...) . ~_.. 11'087 'H, 311' 1:0 'll,oooo I, 'll: 71;0 00 I, 711' VENDOR 000456 TWIN CITY DIE CASTINGS CO. 01/18/2007 CHECK 87963 INVOICE AMOUNT 213.46526.6511 213.46526.6511 TIF 1..26 TIF 1-26 PAYBACK INSTALLMENT 2,860.17 PAYBACK INSTALLMEN 14,300.87 TOTAL 17,161.04 . . CITY OF MONTICELLO. MONTICELLO, MN 55362 at ~ CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET' SUITE 1 MONTICEllO, MN 55362 763-295-2711 17-1 910 NO. 87961 DATE CHECK NO. WELLS FARGO BANK MONTICEllO. MINNESOTA 55362' (763) 295-2290 AMOUNT 01/18/2007 87961 THIRTY FOUR THOUSAND ONE HUNDRED NINETY NINE AND 00/100 DOLLARS $34,199.00 PAY TO THE ORDER OF TERRANCE & MARY TOMANN FLP C/O UMC 4022 TOMAHAWK TRAIL MEDINA MN 55340 ~e~fo/~~';;j .....,;....Ef;:::....,.... ...r.................'...... lI'oB ?Clb ~II' ,:oCl ~oooo ~ClI: ?bo 00 ~ ?II' FUND P.O.# INVOICE 01/18/2007 DESCRIPTION CHECK 87961 VENDOR 002658 TERRANCE & MARY TOMANN FLP AMOUNT . 213.46531. 6511 213.46531. 6511 TIF 1-31 TIF 1-31 PAYBACK INSTALLMENT 5,699.83 PAYBACK INSTALLMEN 28,499.17 TOTAL 34,199.00 . . CITY OF MONTICELLO. MONTICELLO, MN 55362 CITY OF MONTICEllO ACCOUNTS PAYABLE 505 WALNUT STREET' SUITE 1 MONTICEllO, MN 55362 763-295-2711 17.1 """""910 NO. 87957 DATE 01/18/2007 SIX HUNDRED SEVENTEEN AND 02/100 DOLLARS WElLS FARGO BANK MONTICELLO, MINNESOTA 55362' (763) 295-2290 CHECK NO. AMOUNT 87957 $617.02 PAY TO THE ORDER OF TAPPER'S HOLDINGS LLC ATTN: WILLIAM R TAPPER 3935 WALDEN LANE WAYZATA MN 55391 ~?1:~~:t.. ............Pe,........ ............ . .. . . .. .. .- ..~ 11'08 7q 5 711' ':0 q ~oooo ~ q.: 7bo DO ~ 711' P.O.# INVOICE 01/18/2007 DESCRIPTION CHECK 87957 VENDOR 003581 TAPPER'S HOLDINGS LLC FUND & AMOUNT 213.46533.6511 213.46533.6511 TIF 1-33 TIF 1-33 PAYBACK INSTALLMENT PAYBACK INSTALLMENT 102.84 514.18 TOTAL 617.02 . . CITY OF MONTICELLO. MONTICELLO. MN 55362 fir ~ CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET. SUITE 1 MONTICEllO. MN 55362 763-295-2711 17-1 ~ NO. 87955 DATE CHECK NO. WELLS FARGO BANK MONTICEllO, MINNESOTA 55362' (783) 295.2~9[} AMOUNT 01/18/2007 87955 TWENTY ONE THOUSAND FIVE HUNDRED EIGHTY EIGHT AND 00/100 DOLLARS $21,588.00 PAY TO THE ORDER OF ST CLOUD HOSPITAL C/O ST BENEDICT'S CENTER 1810 MINNESOTA BLVD. SE ST CLOUD MN 56304-2416 ~';f;"'%'h~;",;, '''-.--.. ~ ~/r""'" ",- .::.:.f.:.:.:~:.:~.. cu. " ,.,.,',/.:.... - .. ~ . cj:>..C;-,..... ..,,,.:..."';';'. 1I'087~5511' l:o~Wooo~~I: 7bO 00 ~ 711' .0.# INVOICE 01/18/2007 DESCRIPTION CHECK 87955 VENDOR 000411 ST CLOUD HOSPITAL AMOUNT 213.46524.6511 213 .46524.6511 TIF 1-24 TIF 1-24 PAYBACK INSTALLMENT 3,598.00 PAYBACK INSTALLMEN 17,990.00 TOTAL 21,588.00 . . CITY OF MONTICELLO. MONTICEllO, MN 55362 CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET' SUITE 1 MONTICELLO, MN 55362 763-295-2711 17-1 ---gw- NO. 87939 DATE WELLS FARGO BANK MONTICELLO. MINNESOTA 55362. (7631 295-2290 CHECK NO AMOUNT 01/18/2007 87939 THIRTEEN THOUSAND EIGHT HUNDRED THIRTY NINE AND 62/100 DOLLARS $13,839.62 PAYTO THE ORDER OF PRESBYTERIAN HOMES HOUSING AND ASSISTED LIVING, INC 2845 HAMLINE AVE NO ROSEVILLE MN 55113 ~~~;t'~!~iJ,~" _..:H:..........H..,~~HH.'..... .. ., .- ,. . .. "._,i 1I'087"l:1"lIl' I:o"l ~oooo ~"ll: 7bo 00 ~ 711' VENDOR 001217 PRESBYTERIAN HOMES HOUSING FUND I?O.#. INVOICE 01/18/2007 DESCRIPTION CHECK 87939 AMOUNT 213.46519.6511 213.46519.6511 TIF 1-19 TIF 1-19 PAYBACK INSTALLMENT 2,306.60 PAYBACK INSTALLMEN 11,533.02 TOTAL 13,839.62 . . CITY OF MONTICELLO. MONTICEllO, MN 55362 CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET. SUITE 1 MONTICELLO, MN 55362 763-295.2711 17.1 ~ NO. 87901 DATE CHECK NO. WELLS FARGO BANK MONTICELLO, MINNESOTA 55362. (763) 295.2290 AMOUNT 01/18/2007 SIX THOUSAND EIGHT HUNDRED THIRTY AND 00/100 DOLLARS 87901 $6,830.00 PAY TO THE ORDER OF MASTER'S FIFTH AVENUE, INC 204 LOCUST STR SUITE 209 MONTICELLO MN 55362 ~Zi.~;'fd1'~4W:;' :f.:f\, ft-.UJ. .,.... ::/:) ..........8f........."~......, h . ". ,." .,... 11'087 gO .11' 1:0 g .0000 I. gl: 71;0 00. 711' VENDOR 002731 MASTER'S FIFTH AVENUE, INC 01/18/2007 CHECK 87901 FUND & ACCOUNT P.O.# INVOICE DESCRIPTION AMOUNT 213.46585.6511 213.46585.6511 TIF 22.5 TIF 22.5 PAYBACK INSTALLMENT 1,138.33 PAYBACK INSTALLMENT 5,691.67 TOTAL 6,830.00 . . CITY OF MONTICELLO. MONTICEllO. MN 55362 CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET' SUITE 1 MONTICEllO, MN 55362 763-295-2711 17.1 ~ NO. 87889 WELLS FARGO BANK MONTICELLO. MINNESOTA 55362' (763) 295-2290 DATE CHECK NO. AMOUNT 87889 $3,023.00 01/18/2007 THREE THOUSAND TWENTY THREE AND 00/100 DOLLARS PAY TO THE ORDER OF INTEGRATED RECYCL TECH, INC. C/O STEVE BUDD 9696 FALLON AVE NE MONTICELLO MN 55362 [:to.'L':Z.t'lW::.:>..... J:~~;L .. tu. ~...:' '.:;!.::"':: . ;~_.~. . .. .. ..' ,-... 11'08788'111' 1:0'1 ~oooo ~'11: 71;0 00 ~ 711' FUND P.O.# INVOICE 01/18/2007 DESCRIPTION CHECK 87889 VENDOR 002091 INTEGRATED RECYCL TECH, INC. AMOUNT 213.46528.6511 213.46528.6511 TIF 28 TIF 28 PAYBACK INSTALLMENT 503.83 PAYBACK INSTALLMENT 2,519.17 TOTAL 3,023.00 . . CITY OF MONTICELLO. MONTICELLO, MN 55362 CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET' SUITE 1 MONTICEllO. MN 55362 763-295-2711 DATE 01/18/2007 TEN THOUSAND NINE HUNDRED AND 00/100 DOLLARS 17.1 "9"10 NO. 87868 WEL.LS FARGO BANK MONTICEllO, MINNESOTA 55362' (763)2%-2200 CHECK NO. AMOUNT 87868 $10,900.00 PAY TO THE ORDER OF FIRST NAT'L BANK OF ELK RIVER ATTN KEVIN WEERS 72 9 MAIN ST ELK RIVER MN 55330 11'08781:.811' 1:09 WOOD 191: 71:.0 00 l 711' VENDOR 002790 FIRST NAT'L BANK OF ELK RIVER 01/18/2007 CHECK 87868 '. FUND & . INVOICE DESCRIPTION AMOUNT 213.46529.6511 213.46529.6511 TIF 29 TIF 29 PAYBACK INSTALLMENT 1,816.67 PAYBACK INSTALLMENT 9,083.33 TOTAL 10,900.00 . . CITY OF MONTICELLO. MONTICELLO, MN 55362 CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET. SUITE 1 MONTICEllO, MN 55362 763-295-2711 17.1 ~ NO, 87846 WELLS FARGO BANK MONTiCELLO. MINNESOTA 55362 01'(53) 295.2290 DATE CHECK NO. AMOUNT 01/18/2007 87846 THREE THOUSAND EIGHT HUNDRED FORTY AND 00/100 DOLLARS $3,840.00 PAY TO THE ORDER OF CEDRUS CREEK CRAFTSMAN, INC ATTN: JOHN KONAREK 12420 ARMITAGE AVE NW MONTICELLO MN 55362 : .:~~;~~:~.~;~ .. 11'08781.1;11' 1:09 WOOD ~91: 71;0 00 ~ 711' FUND P.O.# INVOICE 01/18/2007 DESciHPTION CHECK 87846 VENDOR 001114 CEDRUS CREEK CRAFTSMAN, INC AMOUNT 213.46520.6511 213.46520.6511 TIF 1-20 TIF 1-20 PAYBACK INSTALLMENT 640.00 PAYBACK INSTALLMENT 3,200.00 TOTAL 3,840.00 . . CITY OF MONTICEllO. MONTICEllO, MN 55362 CITY OF MONTICELLO ACCOUNTS PAYABLE 505 WALNUT STREET. SUITE 1 MONTICEllO, MN 55362 763-295-2711 17.1 --gw- NO. 87831 DATE WELLS FARGO BANK MON1ICELLO. MINNESOTA 55362' (763) 295-2290 CHECK NO. AMOUNT 01/18/2007 87831 SIX THOUSAND SEVEN HUNDRED SIXTY EIGHT AND 00/100 DOLLARS $6,768.00 PAY TO THE ORDER OF BBF PROPERTIES 19577 180TH AVE BIG LAKE MN 55309 ~\~~;.~~~.;"...::;:;,..to'.~.;~-t.':"~ - ;~,~"""";",,-:~,,,';:':>'\ .~~a.i~: ",;. ";\:;:J?':::',::):". :.~ '-.........;:'-!....~;.:."'., Zf,.~;>.... /..$.....~.......~'..,.:._' 11'08 78 ~ loll' 1:091000001091: 7(;0 0010 711' VENDOR 001295 BBF PROPERTIES 01/18/2007 CHECK 87831 P.O.# INVOICE DESCRIPTION AMOUNt 213.46522.6511 213 .46522.6511 TIF 1-22 TIF 1-22 PAYBACK INSTALLMENT 1,128.00 PAYBACK INSTALLMENT 5,640.00 TOTAL 6,768.00 . CITY OF MONTICELLO.. MONTICELLO, MN 55362 . . . . \0 <0 . EHLERS & ASSOCIATES INC December 12, 2006 Monticello Housing And Redevelopment Authority 505 Walnut Street, Suite I Monticello, MN 55362-8822 Ehlers & Associates appreciates the opportunity to serve as your financial advisor. To keep up with costs of inflation, we need to periodically raise our rates. Beginning in January 2007, our hourly rates will increase by $5.00. It is our intent to continue modest increases in our rates. We will continue to not charge you for mileage and regular business expenses such as copying. If you would like any further information on our billing rates or other costs, please do not hesitate to call your financial advisor or Mark Ruff, team leader, at 651-697-8505. LEADERS IN PUBLIC FINANCE Equal OPDortl.lf'i1y Employer Charter Member of the National Associalion of Independent Pl.lblic Finance Advisors 3060 Centre Pointe Drive, Roseville, MN 55113-1105 651.697.8500 fax 651.697.8555 www.ehlers-inc.com . . . BRA Agenda - 02/07/07 11. Reports: A. Economic DeveloDment ReDort. Leads: Via verbal commitment Walker In-Store has agreed to purchase Lot 2, Block 1, Otter Creek 3'd Addition. The company proposes to construct a 10,240 sq ft building and will employ 11 full-time permanent people at an average hourly wage of at least $18.81 per hour without benefits. I'm waiting for return of the executed Preliminary Development Agreement and deposit prior to engaging Ehlers and Kennedy & Graven. Spring construction. * Big Lake Htg & PIg - Call from lender looking at $1 land price. Suggested other land options in Monti. * Karlburger Foods - I visited their new facility on January 23 with Mike Maher. It is a great project and certainly a step-up for them. Project on schedule for completion end of February and move-in soon after. * 43,000 sq ft FSI building for sale - I talked with Jack Peach on January 17. 16,000 sq ft warehouse, 12,000 sq ft office, and 15,000 production/open work space. 7.5 acres. * 500,000 sq. ft. manufacturing user (wet industry). Sixteen sites identified. Don't know name of company or much else. Only listed as a lead. Monticello currently does not have water and wastewater treatment capacity to accommodate their needs. * Local contractor - on behalf of manufacturer - looking for 10-15 acres, 100,000 sq ft building. 1-19-07 * Another local contractor - on behalf of clients - looking for land for 32,000 sq ft facility and 100,000 sq ft facility. BRE (Business Retention & Expansion): * Precision Technologies, Inc. - Thanks to everyone who attended the Welcome/Open House on January 18. Photo booklet mailed January 26. * Washburn Computer Group - Moved in. Isn't it good to see cars in the parking lot? They'll be in City Hall to expand parking lot and are interested in excess city land when and if Fallon Avenue is re-aligned. * I sat in on the meetings with individual businesses and WSB, Inc. (Bret Weiss and Shibani Bisson). WSB did a fine job at explaining the proposed improvements for along Chelsea Road. ,. ttnllul _! !6Jm11SIttB liB ]'lre1"Med ll) 'NSB': On January 22, the Council accepted the Feasibility Study without the pathway and lighting as an option paid for by fees and called for a public hearing date of February 12. * I attended a meeting between the Mayor and Don Tomann, UMC. Don expressed his concerns about a potential re-zone of the property to the west from II-A to Commercial (retail). * Damn Lahr, Xcel Energy, has taken a new position within the company. He will now be in the transmission power line division rather than community relations manager. He'll remain a resident of Monticello and wishes to continue as a member of the HRA and EDA. For those of you who knew Arnie Hendrickson, Minnegasco, he is retiring after 34 years with the company. I . BRA Agenda - 02/07/07 * Attended the annual meeting of the Wright County Economic Development Partnership on January 19. I'm no longer on the Board of Directors as I maximized my term limit. The Partnership has matured and provides educational seminars to members and businesses. Prior to being a board member, I helped to initiate the formation of the Partnership. * Attended the first Comp Plan Task Force meeting of January 11. The next meeting of February 1 will focus on industrial. Members were given some homework questions. * Attended the Manufacturer's & Food Processors Round Table Discussion on January 31. Tips for dealing with a multi-generational workforce and new apprentice training program. * Paul Mastey and myself attended the annual Public Finance Seminar, February 1 and 2, put on by Ehlers & Associates, Inc. * Fiber Optics Task Force - Declined the Blandin Grant. The task force was further ahead in the process to benefit the Blandin program. Next Task Force meeting January 25 a.m. * Marketing Committee - Met on January 17. Decided to further explore a better site for the billboard. Mike Benedetto attended. The Small Business Development Center, SCSU, accepted the request to prepare a Feasibility Study. Based on the graduate/under-graduate students schedule, the Marketing Subcommittee and students will meet sometime the week of February 8. See attached. * ~ R~ E~lu.l", J~m'fl&l 2apigo [jf~~~"lAt:l. . . 2 1/ / I J ,;1) . . January 3,2007 MONTICELLO Mr. Barry Kirchoff, Director Small Business Development Center 616 Roosevelt Road, Suite 100 St. Cloud, MN 56301 Re: Request for your participation in a feasibility study to be performed for the City of Monticello identifYing current assets and shortcomings of Monticello as a potential location for a high techllife sciences industrial park. Dear Mr. Kirchoff: The Joint Marketing Subcommittee of the Industrial Development Committee and the Housing and Redevelopment Authority of the City of Monticello are seeking the assistance of the Small Business Development Center and St. Cloud State University (SCSU) to research and present a feasibility study regarding critical factors related to the establishment of a possible future high tech/life sciences industrial park for the City of Monticello. Specifically, this feasibility study shall identifY the characteristics of a high tech/life sciences industrial park and shall determine the availability oflocal and regional assets to support such an industrial park. Further, the study shall catalogue the critical shortcomings for the possible development of such a park in the City of Monticello The outcome of the feasibility study shall provide a data base of information to be used to determine whether a high tech/life science industrial park can be developed in the City of Monticello. The base of information in the feasibility study must include, but will not be limited to, the following: I. Definition of high techllife science industries. II. Identification of the critical attributes for the establishment of a high tech/life science industrial park, i.e.: A) Labor force requirements and availability to support the above: Monticello City Hall, 505 Walnut Street. Suite 1. Monticello, MN 55362-8831 . (763) 295-2711 . Fax (763) 295-4404 Office of Public Works, 909 Golf Course Rd., Monticello. MN 55362 . (763) 295-3170 . Fax (763) 271-3272 . Mr. Kirchoff January 3,2007 I) Identification of skills or training/education necessary. 2) Identification of existing skilled labor force availability. 3) Identification oflocal and regional training/education opportunities for developing a high tech work force. B) Transportation requirements and availability. C) Access requirements and availability. D) Telecommunication requirements and availability. E) Land use attributes. F) Expansion or other financing requirements and availability. !!l. Identification of additional amenities required for or within a high tech/life science industrial park and their availability. IV. Identification of additional local and regional "quality of life" assets and resources desired and their availability: . A) Education requirements and availability. B) Housing requirements and availability. C) Recreational requirements and availability. The Marketing Subcommittee has identified this feasibility study as a mutually beneficial project between the City of Monticello and the Small Business Development Center and SCSU. This feasibility study is viewed as an important tool in shaping the vision for the future economic development in and around the City of Monticello. We look forward to obtaining your confilmation of participation in this partnership by January 9, 2007. The time-line for completion of the feasibility study shall be May 29,2007, or as mutually detennined by the Small Business Development Center and our subcommittee. At the conclusion of the feasibility study, the Marketing Subcommittee shall be provided two copies in a booklet fonn of the results of the study. No later than May 29,2007, the graduate and undergraduate participants shall also provide a presentation of the study results to the Marketing Subcommittee as a site to be determined. [( is our mutua! understanding that there shall be no cost to the City of Monticello for the production and presentation of the feasibility study as described above. . 2 . Mr. Kirchoff January 3, 2007 As your staff contact person, I can be reached at 763-27 1-3208 or at ollie.koroochak@cLmonticello.mn.us. for further information. Should you wish to speak with one of the subcommittee members, I would suggest Paul Kleinwachter, 763-263-7460, or Brad Barger, 763-295- 5635. Bany, the subcommittee looks forward to working with you and the selected student participants on this exciting project! Please confirm you commitment (and the student participant commitments) to this project by no later than January 9, 2007. Respectfully yours, CITY OF MONTICELLO u~ \<(tI)~j~ Ollie Koropchak Economic Development Director . (On behalf of the Marketing Subcommittee) c: Clint Herbst, Mayor Jeff O'Neill, City Administrator Industrial Development Committee File Housing and Redevelopment AuthOlity File . 3 . Professor: Business Consulting 498/598 Spring Semester 2007 3:30 - 4:45pm Tuesdayl Thursday BB 321 Barry Kirchoff Office: Phone: EmaiI: Week of: Jan. 18 & Jan 23 Jan. 25 & Jan. 30 Feb. 1 & Feb. 6 . Feb. 8 & Feb. 13 Feb. 15 & Feb. 20 Feb. 21 & Feb. 23 Feb. 22 & Feb. 27 Mar. 6 & Mar. 8 Mar. 13 - Mar. 15 Mar. 20 - Mar. 22 . Mar. 27 & Mar. 29 BB 161 320-308-4059 bckirchoff@stcloudstate.edu Tentative Course Schedule Course Introduction Business Consulting: What's it All About? Project introductions Client Communications and Statement of Purpose Guidelines Project assignments (Meet faculty advisorslFirst meetings with client) Business Description! Business Assessment Criteria (First meetings with client I Status Reports) ~~~q ,,\0 ~ Team Building (Status Reports) Written Report Criteria (Statement of Purpose and Project Timelines Due) (Status Reports) Guest Speaker - Bruce Miles of Big River Consulting Group (Business Descriptions Duel Status reports) Spring Break - No Classes!! Individual Team Meetings with Barry (Status reports due) Individual Team Meetings with Barry (Status reports due) Project Discussions (Initial Drafts of the Project Due IStatus reports due) . April 3 & AprilS April 10 & April 12 April I? & April 19 April 24 & April 26 May 1 thru May 8 Course Requirements: Presentation Organization and Preparations Criteria (Status Reports) Individual Team Meetings with Barry (Second Draft ofthe Project Duel Status reports) Individual Team Meetings with Barry (Finalize Reports) (Schedule presentation with clients and advisors) (Status reports) Final Projects Due this Week. No Exceptions!! Failure to meet this deadline eliminates the team potential for an "A" grade. Final Presentation to Clients (Peer evaluations, status reports, all required paperwork due) 1. Each consulting team is responsible for preparing a written report for the project and for conducting a final presentation to the client, faculty advisor, and Barry. . 2. Each consulting team should meet with the faculty advisor at least on a bi-weekly schedule and more frequently if necessary. Advisors must receive copies of status reports. 3. Each consulting team should meet with the client at their place of business iffeasible at least once during the semester. 4. Each consulting team is responsible for completing the following paperwork: · Statement of Purpose · Confidentiality Agreement · Weekly Status Reports · Consulting Log . Peer Evaluations . Final Report 5. 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