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EDA Agenda - 08/10/2022AGENDA REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, August 10th, 2022 — 6:00 p.m. Mississippi Room, Monticello Community Center Commissioners: President Steve Johnson, Vice President Jon Morphew, Treasurer Tracy Hinz, 011ie Koropchak-White, Hali Sittig and Councilmembers Lloyd Hilgart and Jim Davidson Staff: Executive Director Jim Thares, Angela Schumann, Sarah Rathlisberger 1. Call to Order 2. Roll Call 3. Consideration of additional agenda items 4. Consent Agenda a. Consideration of Approving Regular Meeting Minutes—June 8, 2022 b. Consideration of Approving Payment of Bills c. Consideration of Authorizing a Donation to the Initiative Foundation for use in Community Economic Development Programs in the amount of $2,390 from the 2023 EDA General Fund d. Consideration of Approving Funding for 2022 IEDC Manufacturers' Recognition Event in the amount of $1,150 e. Consider approving an Amendment to 2022 Pooled TIF Allocation Plan (05-25- 22) Regular Agenda 5. PUBLIC HEARING (CONTINUED) - EDA Land Sale and Business Subsidy — Sale of Lot 2, Block 1, First Addition, 65,800 square feet +/- to Deephaven Development for a Mixed - Use Residential -Commercial Redevelopment Proposal and in connection with TIF Assistance supporting Deephaven Development's Block 52 Redevelopment proposal; and Consideration of Adopting Resolution No. 2022-18 Authorizing a Purchase and Development Contract containing a Grant and Business Subsidy Agreement with Deephaven Development for Lot 2, Block 1, Block 52 First Addition, in the amount of $1.00 related to a proposed Mixed -Use Commercial -Residential Development in connection with and supported by Redevelopment TIF District No. 1-45 6. Consideration of Resolution #2022-25 Authorizing the 2023 HRA Special Benefit Property Tax Levy in the Amount of $402,000 and the General Fund Budget in the Amount of $450,000 7. WSB Economic Development Assistance Update —Jim Gromberg 8. Economic Development Manager's Report 9. Adjourn MINUTES (Draft) REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, lune 8, 2022 — 6:00 p.m. Mississippi Room, Monticello Community Center Commissioners Present: President Steve Johnson, Vice President Jon Morphew, Treasurer Tracy Hinz, 011ie Koropchak-White, Mayor Lloyd Hilgart Commissioners Absent: Hali Sittig, Councilmember Jim Davidson Staff Present: Executive Director Jim Thares, Hayden Stensgard 1. Call to Order President Steve Johnson called the reeular meetine of the Monticello EDA to order at 6:00 p.m. 2. Roll Call 6:00 p.m. Mr. Johnson called the roll. 3. Consideration of Additional Agenda Items None 4. Consent Aeenda a. Consideration of Approving Regular Meeting Minutes — April 27, 2022 b. Consideration of Approving Regular Meeting Minutes — May 11, 2022 c. Consideration of Approving Payment of Bills d. Consideration of Adopting Resolution No. 2022-12 Removing Parcels from TIF District No. 1-22 e. Consideration of Adopting Resolution No. 2022-13 Modifying TIF District No. 1- 42 Plan Budget L Consideration of Adopting Resolution No. 2022-14 Modifying TIF District No. 1- 43 Plan Budget LLOYD HILGART MOVED TO APPROVE THE CONSENT AGENDA. OLLIE KOROPCHAK- WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. Regular Agenda 5. PUBLIC HEARING: EDA Land Sale — Lot 1, Bock 5 Country Club Manor First Addition Executive Director Jim Thares provided an overview of items 5 and 6 as companion items. Brian Nicholson of Headwaters Development, LLC., addressed the EDA and the public. Mr. Johnson opened the public hearing portion of items 5 and 6. Mr. Johnson closed the public hearing portion of items 5 and 6. 6. PUBLIC HEARING: EDA Land Sale — Lot 1-21, Block 1, Country Club Manor First Additinn Lot 1-11, Block 2 Country Club Manor First Addition Lot 1-11, Block 3, Country Club Manor First Addition Lot 1-21, Block 4, Country Club Manor First Addition Outlot A, Country Club Manor First Addition Outlot B, County Club Manor First Addition Outlot C, Country Club Manor First Addition 7. Consideration of Adopting Resolution No. 2022-15 Authorizing a Purchase and Development Agreement with Headwaters Development for Lot 1, Block 5, Country Club Manor, First Addition, in the amount of $1.00 related to an Apartment development proposal in connection with and supported by Affordable Housing TIF Mr.trirt 1-a7 Mr. Thares provided an overview of items 7 and 8 as companion items. LLOYD HILGART MOVED TO ADOPT RESOLUTION NO. 2022-15, AUTHORIZING THE PURCHASE AND DEVELOPMENT AGREEMENT WITH HEADWATERS DEVELOPMENT FOR LOT 1, BLOCK 5, COUNTRY CLUB MANOR FIRST ADDITION, IN THE AMOUNT OF $1.00 RELATED TO AN APARTMENT DEVELOPMENT PROPOSAL IN CONNECTION WITH AND SUPPORTED BY AFFORDABLE HOUSING TIF DISTRICT 1-42. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. 8. Consideration of Adopting Resolution No. 2022-14 Authorizing a Purchase and Development Agreement with Headwaters Development for Lots 1-21, Block 1; Lots 1- 11, Block 2; Lots 1-11, Block 3; Lots 1-21, Block 4; Outlot A, Outlot B, and Outlot C, all in Country Club Manor, First Addition in the amount of $1.00 related to a Twin home Villas development proposal in connection with and supported by Affordable Housing TIF District 1-43 Mr. Thares provided an overview of items 7 and 8 as companion items. LLOYD HILGART MOVED TO ADOPT RESOLUTION NO. 2022-16, AUTHORIZING THE PURCHASE AND DEVELOPMENT AGREEMENT WITH HEADWATERS DEVELOPMENT FOR LOT 1-21, BLOCK 1; LOT 1-11, BLOCK 2; LOT 1-11, BLOCK 3; LOT 1-21, BLOCK 4; OUTLOT A; OUTLOT B AND OUTLOT C ALL IN COUNTRY CLUB MANOR FIRST ADDITION RELATED TO A 60 -UNIT TWINHOME VILLAS DEVELOPMENT PROPOSAL IN CONNECTION WITH AND SUPPORTED BY AFFORDABLE HOUSING TIF DISTRICT 1-43. OLLIE KOROPCHAK- WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. 9. Consideration of endorsing Duffy Development's Low Income Housing Tax Credit application to Minnesota Housing Financing Agency (MHFA) related to a multi -family apartment development proposal and potential establishment of an Affordable Housing Tax Increment Financing (TIF) District Mr. Thares provided an overview of the agenda item to the EDA and the public. JON MORPHEW MOVED TO TABLE ACTION ON ITEM 9 RELATED TO SUPPORT OF DUFFY DEVELOPMENT AND RESUBMITTAL OF ITS LIHTC FUNDING APPLICATION TO MHFA. LLOYD HILGART SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. 10. Consideration of Authorizing an Amendment to the WSB Structural Engineering Analysis Consulting contract scope of work and pricing in the amount of $###### related to Block 52 redevelopment demolition and construction activities Mr. Thares provided an overview of the agenda item to the EDA and the public. JON MORPHEW MOVED TO DENY AUTHORIZING AN AMENDMENT TO THE WSB CONTRACT FOR STRUCTURAL ENGINEERING ANALYSIS OF BUILDINGS AND DEMOLITION MITIGATION RECOMMENDATIONS RELATED TO BLOCK 52 REDEVELOPMENT EFFORTS INCLUDING BUILDING DEMOLITION AND NEW CONSTRUCTION ACTIVITIES IN AN AMOUNT NOT TO EXCEED $42,048. LLOYD HILGART SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. 11. Economic Development Director's Report Mr. Thares provided an overview of the agenda item to the EDA and the public. 12. Adjourn TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY. JON MORPHEW SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0, MEETING ADJOURNED AT 8:09 P.M. EDA Agenda: 08/10/22 4b. Consideration of Approving Payment of Bills (JT) A. REFERENCE AND BACKGROUND: Accounts Payable summary statements listing bills submitted during the previous month are included for review. B. ALTERNATIVE ACTIONS: 1. Motion to approve payment of bills through July 2022. 2. Motion to approve payment of bills through July 2022 with changes as directed by the EDA. C. STAFF RECOMMENDATION: Staff recommends approval of Alternative #1. D. SUPPORTING DATA: A. Accounts Payable Summary Statements Accounts Payable Transactions by Account User: Julie.Cheney Printed: 07/06/2022 - 3:02PM Batch: 00202.07.2022 MonficeCITY llo Account Number Vendor Description GL Date Check No Amount PO No 213-00000-220110 ECM PUBLISHERS INC TIF 1-45 - PH Ad# 1236726 07/12/2022 0 221.52 Vendor Subtotal for Dept:00000 221.52 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-45 - Block 52 Redevelopment - 07/12/2022 125755 1,936.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] 21TOO 1 - Headwaters Townhomes TIF 07/12/2022 125755 1,736.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] 21TOO 1 -Headwaters Apartments TIF 07/12/2022 125755 1,538.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-44 - Washburn POS Econmic D, 07/12/2022 125755 543.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-46 - Wiha Tools TIF Project - M 07/12/2022 125755 721.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-45 - Sale Block 52 Redevelopm 07/12/2022 125755 184.50 Vendor Subtotal for Dept: 00000 6,658.50 213-46301-430400 ECM PUBLISHERS INC PH Willa Tools Ad #1236593 07/12/2022 0 138.45 Vendor Subtotal for Dept:46301 138.45 213-46301-430400 KENNEDY AND GRAVEN CHAR] General EDA- May 2022 07/12/2022 125755 506.00 Vendor Subtotal for Dept:46301 506.00 213-46301-431990 WSB & ASSOCIATES INC 22CO04 - Block 52 ARM Assessment 07/12/2022 0 11,226.00 213-46301-431990 WSB & ASSOCIATES INC 22CO04 - Block 52 Structural Assessir 07/12/2022 0 15,251.75 Vendor Subtotal for Dept:46301 26,477.75 AP -Transactions by Account (07/06/2022 - 3:02 PM) Page 1 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-431993 WSB & ASSOCIATES INC 2022 Economic Development Service: 07/12/2022 0 1,059.00 213-46301-431993 WSB & ASSOCIATES INC Downtown Redevelopment Project - N 07/12/2022 0 772.50 Vendor Subtotal for Dept:46301 1,831.50 Subtotal for Fund: 213 35,833.72 Report Total: 35,833.72 AP -Transactions by Account (07/06/2022 - 3:02 PM) Page 2 Accounts Payable Transactions by Account User: Debbie.Davidson Printed: 07/20/2022 - 4:05PM Batch: 00203.07.2022 MonficeCITY llo Account Number Vendor Description GL Date Check No Amount PO No 213-00000-155020 LEAGUE OF MN CITIES INS TRU Ins Premium 7/15/22 - 7/15/23 07/26/2022 125837 962.00 Vendor Subtotal for Dept: 00000 962.00 213-00000-220110 ECM PUBLISHERS INC TIF 1-46 - PH WiHa Tool Subsidy Ad 07/26/2022 0 184.60 213-00000-220110 ECM PUBLISHERS INC TIF 1-44 - PH Washburn POS Ad# 12 07/26/2022 0 184.60 213-00000-220110 ECM PUBLISHERS INC TIF 1-45 - PH TIF Districts Ad# 1239 07/26/2022 0 259.98 213-00000-220110 ECM PUBLISHERS INC TIF 1-46 - EDA Land Sale Ad# 1240 07/26/2022 0 258.44 Vendor Subtotal for Dept:00000 887.62 213-00000-220110 NORTHLAND SECURITIES INC TIF 1-46 Wiha Tools - June 2022 07/26/2022 125848 1,505.00 213-00000-220110 NORTHLAND SECURITIES INC TIF 1-45 - Block 52 - June 2022 07/26/2022 125848 3,225.00 Vendor Subtotal for Dept: 00000 4,730.00 213-46301-436100 LEAGUE OF MN CITIES INS TRU Ins Premium 7/15/22 - 7/15/23 07/26/2022 125837 688.00 Vendor Subtotal for Dept:46301 688.00 213-46301-461500 PREFERRED TITLE INC Block 52 Relocation - Move Personal 07/26/2022 125852 2,342.44 213-46301-461500 PREFERRED TITLE INC Block 52 Relocation - Re-establishmej 07/26/2022 125852 38,665.66 Vendor Subtotal for Dept:46301 41,008.10 213-46301-461500 ALIVE LUTHERAN CHURCH Relocation Benefit - Payment #4 07/26/2022 125807 3,667.24 AP -Transactions by Account (07/20/2022 - 4:05 PM) Page 1 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-461500 ALIVE LUTHERAN CHURCH Relocation Benefit - Moving Expense 07/26/2022 125807 47.36 Vendor Subtotal for Dept:46301 3,714.60 213-46301-461500 INNOVATIVE STUCCO INC Relocation Benefit Payment #3 07/26/2022 125828 30,000.00 Vendor Subtotal for Dept:46301 30,000.00 213-46301-461500 SHILOH THOMPSON Relocation Benefit Payment #3 07/26/2022 125864 1,712.44 Vendor Subtotal for Dept:46301 1,712.44 213-46522-431990 NORTHLAND SECURITIES INC 2021 Annual TIF reporting- District 2: 07/26/2022 125848 1,000.00 Vendor Subtotal for Dept:46522 1,000.00 213-46540-465110 GRANITE CITY REAL ESTATE Pay As You Go - 1 st Pmt 2022 Interest 07/26/2022 125824 22,301.46 Vendor Subtotal for Dept:46540 22,301.46 213-46585-465110 LAXMI HOTEL INC Pay As You Go - 1 st Pmt 2022 - Intere 07/26/2022 125836 6,197.84 Vendor Subtotal for Dept:46585 6,197.84 Subtotal for Fund: 213 113,202.06 Report Total: 113,202.06 AP -Transactions by Account (07/20/2022 - 4:05 PM) Page 2 Accounts Payable Transactions by Account User: Debbie.Davidson Printed: 07/20/2022 - 10:46AM Batch: 00201.07.2022 Account Number IT 0 Monfice iiz� � '- Vendor Description GL Date Check No Amount PO No 213-46301-432200 US BANK CORPORATE PMT SYS UPS - Pkg to Land Title 07/15/2022 0 12.00 Vendor Subtotal for Dept:46301 12.00 213-46301-433100 US BANK CORPORATE PMT SYS Kwik Trip - Equinox - Unleaded Fuel 07/15/2022 0 64.56 Vendor Subtotal for Dept:46301 64.56 213-46301-434990 US BANK CORPORATE PMT SYS Manufacturing Alliance - CET Grant A 07/15/2022 0 2,000.00 Vendor Subtotal for Dept:46301 2,000.00 213-46301-438200 CITY OF MONTICELLO 7256-004 - 130 Brdwy- Stormwtr 07/15/2022 0 26.25 213-46301-438200 CITY OF MONTICELLO 7256-007 - 103 Pine St- EDA 07/15/2022 0 45.50 213-46301-438200 CITY OF MONTICELLO 7256-008 - 112 River St. W EDA 07/15/2022 0 45.50 213-46301-438200 CITY OF MONTICELLO 7256-013-113 Broadway EDA 41% 5, 07/15/2022 0 32.49 213-46301-438200 CITY OF MONTICELLO 7256-013- 121 Broadway EDA 07/15/2022 0 45.50 Vendor Subtotal for Dept:46301 195.24 213-46301-443300 US BANK CORPORATE PMT SYS CMMA - CET Grant Advertising 07/15/2022 0 2,100.00 Vendor Subtotal for Dept:46301 2,100.00 AP -Transactions by Account (07/20/2022 - 10:46 AM) Page 1 Account Number 213-46301-443990 Vendor Description GL Date Check No US BANK CORPORATE PMT SYS Monticello Chamber - May Lunch (JT 07/15/2022 Vendor Subtotal for Dept:46301 Subtotal for Fund: 213 Report Total: Amount PO No 15.00 15.00 4,386.80 4,386.80 AP -Transactions by Account (07/20/2022 - 10:46 AM) Page 2 Accounts Payable Transactions by Account User: Debbie.Davidson Printed: 08/02/2022 - 11:13AM Batch: 00215.07.2022 Account Number " CITY O F onti effo Vendor Description GL Date Check No Amount PO No 213-46301-438100 CENTERPOINT ENERGY 6402832805-8 - 113 Broadway W (1/2 07/31/2022 0 213-46301-438100 CENTERPOINT ENERGY 11688591-4 - 121 Broadway W 07/31/2022 0 Vendor Subtotal for Dept:46301 213-46301-438100 XCEL ENERGY 51-13295413-8 - 103 Pine St 07/31/2022 0 213-46301-438100 XCEL ENERGY 51-13295413-8 - 113 W. Broadway El 07/31/2022 0 213-46301-438100 XCEL ENERGY 51-13295413-8 - 121 W. Broadway -E 07/31/2022 0 Vendor Subtotal for Dept:46301 213-46301-443990 DEMVI LLC Parking Lot Maintenance - July 2022 07/31/2022 0 Vendor Subtotal for Dept:46301 Subtotal for Fund: 213 The preceding list of bills payable totaling $153,983.11 was reviewed and approved for payment. Report Total: Date: 8/10/2022 Approved by Tracy Hinz- Treasurer AP -Transactions by Account (08/02/2022 - 11:13 AM) 41.42 29.27 70.69 56.51 190.88 28.59 275.98 213.86 213.86 560.53 560.53 Page 1 Accounts Payable Transactions by Account User: Julie.Cheney Printed: 07/06/2022 - 3:02PM Batch: 00202.07.2022 Account Number Vendor Description GL Date Check No CITYonticello Amount PO No 213-00000-220110 ECM PUBLISHERS INC TIF 1-45 - PH Ad# 1236726 07/12/2022 0 221.52 Vendor Subtotal for Dept:00000 221.52 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-45 - Block 52 Redevelopment - 07/12/2022 125755 1,936.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] 21TOO 1 -Headwaters Townhomes TIF 07/12/2022 125755 1,736.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] 21TOO 1 -Headwaters Apartments TIF 07/12/2022 125755 1,538.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-44 - Washburn POS Econmic D 07/12/2022 125755 543.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-46 - Wiha Tools TIF Project - M 07/12/2022 125755 721.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-45 - Sale Block 52 Redevelopm 07/12/2022 125755 184.50 Vendor Subtotal for Dept:00000 6,658.50 213-46301-430400 ECM PUBLISHERS INC PH WiHa Tools Ad #1236593 07/12/2022 0 138.45 Vendor Subtotal for Dept:46301 138.45 213-46301-430400 KENNEDY AND GRAVEN CHAR] General EDA- May 2022 07/12/2022 125755 506.00 Vendor Subtotal for Dept:46301 506.00 213-46301-431990 WSB & ASSOCIATES INC 22CO04 - Block 52 ARM Assessment 07/12/2022 0 11,226.00 213-46301-431990 WSB & ASSOCIATES INC 22CO04 - Block 52 Structural Assessrr. 07/12/2022 0 15,251.75 Vendor Subtotal for Dept:46301 26,477.75 AP -Transactions by Account (07/06/2022 - 3:02 PM) Page 1 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-431993 WSB & ASSOCIATES INC 2022 Economic Development Service: 07/12/2022 0 1,059.00 213-46301-431993 WSB & ASSOCIATES INC Downtown Redevelopment Project - n 07/12/2022 0 772.50 Vendor Subtotal for Dept:46301 1,831.50 Subtotal for Fund: 213 35,833.72 Report Total: 35,833.72 AP -Transactions by Account (07/06/2022 - 3:02 PM) Page 2 Publishers, Inc. C M 4095 Conn Rapids Blvd. Coon Rapids, MN 55433 Address Service Requested CITY OF MONTICELLO ATTN: ACCOUNTS PAYABLE 505 WALNUT ST STE 1 MONTICELLO, MN 55362 ❑ PLEASE CHECK BOX IF ADDRESS CHANGED & INDICATE NEW ADDRESS Page # 1 Invoice Date 6/16/2022 Invoice Number Ad Number 897955 1236726 Terms Net 30 Check Number Amount Paid Account# 429204 $221.52 ACCOUNT NUMBER START DATE STOP DATE EDITION DATE ACCOUNT REPRESENTATIVE 429204 1 06/16/22 06/16/22 6/16/2022 Monticello Legals 763-691-6001 Please return the upper portion with your payment. Or call 763-712-2494 with a credit card payment. r PUBLICATION DATE AD# CLASS DESCRIPTIONITAG LINE TYPE SIZE QTY{ AMOUNT TIMES Monticello Times 06/16/2022 1236726 150 June 27 PH Tax Inc Finance Di LID 2.0 X 5.80 1 221.52 AIN c 1 2e22 D Net Amount 221.52 Shipping 0.00 Tax 0.00 697955 Amount Due 221.52 •-- ..-- ECM �/ AF PIXE LI N K $30 charge assessed for returned checks. Report errors within 5 days to ensure consideration. r,�tal�5��s, Inc. �T �,., ,��w :~w ,, CREATIVE GROUP ,;.I:rt :�W I X",, Unpaid balances over 30 days past due will incur a 1,5y finance charge per month (Minimum per month). .50 AFFIDAVIT OF PUBLICATION STATE OF MINNESOTA ) ss COUNTY OF WRIGHT Karen Nelson being duly sworn on an oath, states or affirms that he/she is the Publisher's Designated Agent of the newspaper(s) known as: Monticello Times with the known office of issue being located in the county of: WRIGHT with additional circulation in the counties of: SHERBURNE and has full knowledge of the facts stated below: (A) The newspaper has complied with all of the requirements constituting qualifica- tion as a qualified newspaper as provided by Minn. Stat. §331A.02. (B) This Public Notice was printed and pub- lished in said newspaper(s) once each week, for 1 successive week(s); the first insertion being on 06/16/2022 and the last insertion being on 06/1612022. MORTGAGE FORECLOSURE NOTICES )Pursuant to Minnesota Stat. §580.033 relating to the publication of mortgage foreclosure notices: The newspaper complies with the conditions described in §580.033, subd. 1, clause (1) or (2). If the newspaper's known office of issue is located in a county adjoining the county where the mortgaged premises or some part of the mortgaged premises described in the notice are located, a substantial portion of the newspaper's circulation is in the latter county. By: MSCC\ Designated Agent Subscribed and sworn to or affirmed before me on 06/16/2022 by Karen Nelson. a� 4:2� L!,. - Notary Public a�w DARL IdE MARIE MACPHERSo N0'i PUBLIC MINNESOTA Ally Commission Expires Jan 3t, 2024 Rate Information: (1) Lowest classified rate paid by commercial users for comparable space: $18.50 per column inch Ad ID 1236726 CITY OF MONTICELLO NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the City Council of the City of Mon- ticello, Minnesota, will hold a public hearing on Monday, June 27, 2022, at approximately 6:30 p.m. in the City Hall Council Chambers, 505 Wal- nut Street, Monticello, relating to the proposed establishment of Tax In- crement Financing District No. 1-45 (the "TIF District') within the Central Monticello Redevelopment Project No. 1, and the proposed approval of a Tax Increment Financing Plan relating to the TIF District, pursuant to Minnesota Statutes, Sections 469.090 to 469.1081, as amended, and Sections 469.174 through 469.1794, as amended. Copies of the pro- posed Tax Increment Financing Plan will be on file and available for public inspection at the office of the City Clerk at City Hall. The property included within Central Monticello Redevelopment Project No. 1 is described in the Redevelopment Plan on file in the of- fice of the City Clerk. The property to be included within the proposed TIF District is described in the Tax Increment Financing Plan on file in the office of the City Clerk. The boundaries of Central Monticello Rede- velopment Project No. 1 and the proposed TIF District are shown in the following map. All interested persons may appear at the hearing and present their views orally or in writing prior to the hearing to City Hall, 505 Walnut Street, Monticello, MN 55362. BY ORDER OF THE CITY COUNCIL /s/Jennifer Schreiber City Clerk Published in the Monticello Times June 16, 2022 1236726 From: Jim Thares To: Julie Cheney Subject: RE: ECM (2) Date: Wednesday, July 6, 2022 7:50:53 AM Attachments: imacae001.a_na Hi Julie. These are okay to pay. Please see coding. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 11:58 AM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: ECM (2) Jim Please see the attached invoices from ECM: Inv# 897954 — WiHa Tools PH - $138.45 213-46301-430400 Inv# 897955 —TIF 1-45 - $221.52 TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding. Thanks. Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Cheney@ci.monticello.mn.us AP@ci.monticel lo.mn.us CITY tOF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. DocuSign Envelope ID: D4797D24-E45E-43BC-B6FO-5B6BD02D6F42 Page: 2 Kennedy & Graven, Chartered 150 South Fifth Street, Suite 700 n Minneapolis, MN 55402 �Vf City of Monticello May 31, 2022 MN190-00159 Block 52 Redevelopment Through May 31, 2022 For All Legal Services As Follows: Flours Amount 5/2/2022 GAF Review notice of public hearing; draft email regarding 0.40 100.00 same 5/5/2022 LJK Review resolutions and timeline 0.20 42.00 5/6/2022 SCZ Discussion with S Sonsalla of status update on Block 52 0.10 21.00 project 5/9/2022 LJK Draft EDA and City resolutions approving TIF District 2.10 441.00 5/10/2022 LJK Draft Resolutions to remove parcels from TIF 1-22 1.10 231.00 5/15/2022 GAF Review and revise EDA and City Council resolutions 1.30 325.00 approving TIF 22 amendment 5/16/2022 GAF Review and revise EDA and City Council resolutions 1.90 475.00 approving TIF District 5/16/2022 LJK Revise City Council resolution 0.60 126.00 5/18/2022 GAF Conference call with T Omdal regarding amendment to TIF 0.50 125.00 plan; draft email to T Omdal regarding process; legal research regarding same 5/19/2022 GAF Review updated calendar; draft emails; review emails 0.20 50.00 regarding new numbers and process Total Services: $ 1,936.00 Total Services and Disbursements: $ 1,936.00 From: Jim Thares To: Julie Cheney Subject: RE: Kennedy & Graven (8) Date: Wednesday, July 6, 2022 7:47:36 AM Attachments: imacae001.a_na Julie, these are all okay to pay. Please see coding below. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 12:02 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Kennedy & Graven (8) Jim Please see the attached invoices from Kennedy & Graven: Inv# MN190-00101— General EDA - $506.00 213-46301-430400 Inv# MN190-00159 — Block 52 Redevelopment - $1,936.00 Deephaven TIF Escrow Account TIF 1- 45 Inv# MN190-00163 —Headwaters Townhomes TIF - $1,736.00 HW TIF Escrow Account TIF 1-43 Inv# MN190-00170 — Headwaters Apartment TIF - $1,538.00 HW TIF Escrow Account TIF 1-42 Inv# MN190-00171— Project Suburban Expansion - $2,271.50 Suburban Closing Statement should have collected funds to cover legal fees; need to double check with Terri Reichert. Can this one wait to be paid later? Inv# MN190-00172 —Washburn POS TIF - $543.00 TIF Escrow Account TIF 1-44 Inv# MN190-00173 — WiHa Tools TIF - $721.00 TIF Escrow Account TIF 1-46 Inv# MN190-00174 —Sale Block 52 - $184.50 Deephaven TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding for each. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Jul ie.Chenev@ci.monticello.mn AP@ci.monticello.mn.us CITY �-�OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. DocuSign Envelope ID: D4797024-E45E-43BC-B6FO-5B6BD02D6F42 Page: 3 Kennedy & Graven, Chartered 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 City of Monticello t May 31, 2022 MN190-00163 Headwaters Townhomes TIF Through May 31, 2022 For All Legal Services As Follows: Hours Amount 5/5/2022 GAF Conference call with J Thares regarding changes to 1.20 Purchase and Development Agreement; draft and review emaiis regarding same; review and revise TIF agreement 5/6/2022 GAF Review and revise purchase and development agreement 3.10 to incorporate potential pooled TIF uses; draft emaiis and review emails regarding of amendments 5/8/2022 GAF Review resolution approving modifications of TIF District 0.60 5/9/2022 LJK Draft resolutions approving modifications to TIF District; 1.60 Draft EDA Notice of Land Sale; Draft EDA Resolution approving TIF Agreement and Land Sale; Draft Interfund Loan Resolution 5/16/2022 GAF Review and revise resolution approving TIF amendment; 0.70 review and revise notice of public hearing Total Services: 300.00 775.00 150.00 336.00 175.00 $ 1,736.00 Total Services and Disbursements: $ 1,736.00 From: Jim Thares To: Julie Cheney Subject: RE: Kennedy & Graven (8) Date: Wednesday, July 6, 2022 7:47:36 AM Attachments: imacae001.a_na Julie, these are all okay to pay. Please see coding below. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 12:02 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Kennedy & Graven (8) Jim Please see the attached invoices from Kennedy & Graven: Inv# MN190-00101— General EDA - $506.00 213-46301-430400 Inv# MN190-00159 — Block 52 Redevelopment - $1,936.00 Deephaven TIF Escrow Account TIF 1- 45 Inv# MN190-00163 —Headwaters Townhomes TIF - $1,736.00 HW TIF Escrow Account TIF 1-43 Inv# MN190-00170 — Headwaters Apartment TIF - $1,538.00 HW TIF Escrow Account TIF 1-42 Inv# MN190-00171— Project Suburban Expansion - $2,271.50 Suburban Closing Statement should have collected funds to cover legal fees; need to double check with Terri Reichert. Can this one wait to be paid later? Inv# MN190-00172 —Washburn POS TIF - $543.00 TIF Escrow Account TIF 1-44 Inv# MN190-00173 — WiHa Tools TIF - $721.00 TIF Escrow Account TIF 1-46 Inv# MN190-00174 —Sale Block 52 - $184.50 Deephaven TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding for each. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Jul ie.Chenev@ci.monticello.mn AP@ci.monticello.mn.us CITY �-�OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. DocuSign Envelope ID: D471J7D24-E45E-43BC-B6FO-5B6BD02D6F42 Page: 4 Kennedy & Graven, Chartered 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 City of Monticello May 31, 2022 MN190-00170 Headwaters Apartments TIF Through May 31, 2022 For All Legal Services As Follows: Hours Amount 5/6/2022 LJK Revise TIF modification resolutions; Draft land sale and 1.30 273.00 agreement resolutions 5/9/2022 LJK Draft resolutions to modify TIF District 0.30 63.00 5/1612022 GAF Review and revise resolution approving TIF amendment; 0.70 175.00 review and revise notice of public hearing 5/16/2022 LJK Revise public hearing notices with legal property 0.30 63.00 descriptions 5/26/2022 GAF Conference call with L Kantner regarding changes to 0.60 150.00 development agreement; review comments to documents; review emails; draft emails 5/26/2022 LJK Revise development agreement with developer's notes 0.90 189.00 5/29/2022 GAF Review and revise Purchase and Development Agreement 1.70 425.00 to incorporate developer's comments 5/30/2022 GAF Finish reviewing and revising Purchase and Development 0.80 200.00 Agreement; draft email regarding same Total Services: $ 1,538.00 Total Services and Disbursements: $ 1,538.00 From: Jim Thares To: Julie Cheney Subject: RE: Kennedy & Graven (8) Date: Wednesday, July 6, 2022 7:47:36 AM Attachments: imacae001.a_na Julie, these are all okay to pay. Please see coding below. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 12:02 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Kennedy & Graven (8) Jim Please see the attached invoices from Kennedy & Graven: Inv# MN190-00101— General EDA - $506.00 213-46301-430400 Inv# MN190-00159 — Block 52 Redevelopment - $1,936.00 Deephaven TIF Escrow Account TIF 1- 45 Inv# MN190-00163 —Headwaters Townhomes TIF - $1,736.00 HW TIF Escrow Account TIF 1-43 Inv# MN190-00170 — Headwaters Apartment TIF - $1,538.00 HW TIF Escrow Account TIF 1-42 Inv# MN190-00171— Project Suburban Expansion - $2,271.50 Suburban Closing Statement should have collected funds to cover legal fees; need to double check with Terri Reichert. Can this one wait to be paid later? Inv# MN190-00172 —Washburn POS TIF - $543.00 TIF Escrow Account TIF 1-44 Inv# MN190-00173 — WiHa Tools TIF - $721.00 TIF Escrow Account TIF 1-46 Inv# MN190-00174 —Sale Block 52 - $184.50 Deephaven TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding for each. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Jul ie.Chenev@ci.monticello.mn AP@ci.monticello.mn.us CITY �-�OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. Docu5ign Envelope ID: D4797D24-E45E-43BC-B6FO-5B6BD02D6F42 Page: 8 Kennedy & Graven, Chartered 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 City of Monticello 1 U May 31, 2022 MN190-00172 Washburn POS Economic Development TIF District Through May 31, 2022 For All Legal Services As Follows: Hours 5/1/2022 GAF Finish reviewing and revising Contract for Private 0.70 Development; draft email regarding same 519/2022 LJK Draft Resolutions Approving Contract and Business 0.40 Subsidy Agreement 5/12/2022 GAF Review and revise contract for private development; 0.40 conference call with T Omdal; draft email regarding same 5/12/2022 LJK Revise Purchase and Development Agreement with J. 0.10 Thares' comments 5/25/2022 GAF Review emails; draft emails regarding comments to 0.20 documents 5/25/2022 LJK Update development agreement with developer's changes 0.30 5/31/2022 GAF Draft emails regarding timing of public hearing and 0.20 development agreement Total Services Amount 175.00 84.00 100.00 21.00 50.00 63.00 50.00 $ 543.00 Total Services and Disbursements: $ 543.00 From: Jim Thares To: Julie Cheney Subject: RE: Kennedy & Graven (8) Date: Wednesday, July 6, 2022 7:47:36 AM Attachments: imacae001.a_na Julie, these are all okay to pay. Please see coding below. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 12:02 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Kennedy & Graven (8) Jim Please see the attached invoices from Kennedy & Graven: Inv# MN190-00101— General EDA - $506.00 213-46301-430400 Inv# MN190-00159 — Block 52 Redevelopment - $1,936.00 Deephaven TIF Escrow Account TIF 1- 45 Inv# MN190-00163 —Headwaters Townhomes TIF - $1,736.00 HW TIF Escrow Account TIF 1-43 Inv# MN190-00170 — Headwaters Apartment TIF - $1,538.00 HW TIF Escrow Account TIF 1-42 Inv# MN190-00171— Project Suburban Expansion - $2,271.50 Suburban Closing Statement should have collected funds to cover legal fees; need to double check with Terri Reichert. Can this one wait to be paid later? Inv# MN190-00172 —Washburn POS TIF - $543.00 TIF Escrow Account TIF 1-44 Inv# MN190-00173 — WiHa Tools TIF - $721.00 TIF Escrow Account TIF 1-46 Inv# MN190-00174 —Sale Block 52 - $184.50 Deephaven TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding for each. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Jul ie.Chenev@ci.monticello.mn AP@ci.monticello.mn.us CITY �-�OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. DocuSign Enve[ope ID: D4797D24-E45E-43BC-B6F0-5B6BD02D6F42 Page: 9 Kennedy & Graven, Chartered 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 �� 1 City of Monticello May 31, 2022 MN190-00173 Wiha Tools TIF Project Through May 31, 2022 For All Legal Services As Follows: Hours Amount 5/9/2022 LJK Draft resolutions approving TIF District 1.20 252.00 5/17/2022 LJK Review and comment on TIF Plan 0.30 63.00 5/18/2022 LJK Review and comment on TIF Plan 1.00 210.00 5/19/2022 LJK Update City and EDA Resolutions 0.10 21.00 5/20/2022 GAF Review proposed terms-, draft emails and review emails 0.30 75.00 regarding same 5/31/2022 GAF Review and revise planning commission 0.40 100.00 Total Services: $ 721.00 Total Services and Disbursements: $ 721.00 From: Jim Thares To: Julie Cheney Subject: RE: Kennedy & Graven (8) Date: Wednesday, July 6, 2022 7:47:36 AM Attachments: imacae001.a_na Julie, these are all okay to pay. Please see coding below. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 12:02 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Kennedy & Graven (8) Jim Please see the attached invoices from Kennedy & Graven: Inv# MN190-00101— General EDA - $506.00 213-46301-430400 Inv# MN190-00159 — Block 52 Redevelopment - $1,936.00 Deephaven TIF Escrow Account TIF 1- 45 Inv# MN190-00163 —Headwaters Townhomes TIF - $1,736.00 HW TIF Escrow Account TIF 1-43 Inv# MN190-00170 — Headwaters Apartment TIF - $1,538.00 HW TIF Escrow Account TIF 1-42 Inv# MN190-00171— Project Suburban Expansion - $2,271.50 Suburban Closing Statement should have collected funds to cover legal fees; need to double check with Terri Reichert. Can this one wait to be paid later? Inv# MN190-00172 —Washburn POS TIF - $543.00 TIF Escrow Account TIF 1-44 Inv# MN190-00173 — WiHa Tools TIF - $721.00 TIF Escrow Account TIF 1-46 Inv# MN190-00174 —Sale Block 52 - $184.50 Deephaven TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding for each. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Jul ie.Chenev@ci.monticello.mn AP@ci.monticello.mn.us CITY �-�OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. DocuSign Envelope ID: D4797D24-E45E-43BC-B6FO-5B6BD02D6F42 Page: 10 Kennedy & Graven, Chartered 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 City of Monticello May 31, 2022 MN190-00174 Sale of Block: 52 Properties Through May 31, 2022 For All Legal Services As Follows: Hours 5/12/2022 PAT Receive request to retrieve Doc. No. 201759 from land 0.50 records; search LandShark Abstract and Torrens; print screen shots and forward with findings to Sam Zuehlke; search DM system and 12-20-21 owner's policy to retrieve #201759 and forward to Sam Zuehlke 5/12/2022 SCZ Review of S Sonsalla communication requesting the 0.10 location of additional documents; review of Wright county records system; communication to P Thorup directing the acquisition of documents from Wright County 5/13/2022 SCZ Review of P Thorup communication of results of search; 0.30 review of second communication and analysis of attached commitment and easement documents; communication to S Sonsalla with preliminary analysis 5/13/2022 SCZ Review of S Sonsalla analysis of party wall agreement and 0.10 communication to client 5/13/2022 SCZ Discussion with S Sonsalla regarding found party wall 0.10 agreement and next steps on sale of property 5/23/2022 SCZ Review of S Sonsalla analysis and advising client of 0.10 potential title issues for Block 52 development; review of client response regarding greatest concern in the form of a party wall. Total Services: Amount 72.50 16.00 48.00 16.00 16.00 16,00 $ 184.50 Total Services and Disbursements: $ 184.50 From: Jim Thares To: Julie Cheney Subject: RE: Kennedy & Graven (8) Date: Wednesday, July 6, 2022 7:47:36 AM Attachments: imacae001.a_na Julie, these are all okay to pay. Please see coding below. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 12:02 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Kennedy & Graven (8) Jim Please see the attached invoices from Kennedy & Graven: Inv# MN190-00101— General EDA - $506.00 213-46301-430400 Inv# MN190-00159 — Block 52 Redevelopment - $1,936.00 Deephaven TIF Escrow Account TIF 1- 45 Inv# MN190-00163 —Headwaters Townhomes TIF - $1,736.00 HW TIF Escrow Account TIF 1-43 Inv# MN190-00170 — Headwaters Apartment TIF - $1,538.00 HW TIF Escrow Account TIF 1-42 Inv# MN190-00171— Project Suburban Expansion - $2,271.50 Suburban Closing Statement should have collected funds to cover legal fees; need to double check with Terri Reichert. Can this one wait to be paid later? Inv# MN190-00172 —Washburn POS TIF - $543.00 TIF Escrow Account TIF 1-44 Inv# MN190-00173 — WiHa Tools TIF - $721.00 TIF Escrow Account TIF 1-46 Inv# MN190-00174 —Sale Block 52 - $184.50 Deephaven TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding for each. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Jul ie.Chenev@ci.monticello.mn AP@ci.monticello.mn.us CITY �-�OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. Publishers, Inc. EC 4095 Coon Rapids Blvd. Coon Rapids, MN 55433 Address Service Requested CITY OF MONTICELLO — ATTN.- ACCOUNTS PAYABLE 505 WALNUT ST STE 1 MONTICELLO, MN 55362 PLEASE CHECK BOX IF ADDRESS CHANGED R SNDICATE NEW ADDRESS Page # 1 Invoice Date 6/16/2022 Invoice Number Ad Number 897954 1236593 Terms Net 30 Check Number Amount Paid Account # 429204 $138.45 ACCOUNT NUMBER START DATE STOP DATE EDITION DATE ACCOUNT REPRESENTATIVE 429204 06/16/22 06/16/22 6/16/2022 Monticello Legals 763-691-6001 Please return the upper portion with your payment. Or call 763-712-2494 with a credit card payment. PUBLICATION DATE I ADfI CLA55 DESCRIPTIONlTAG LINE TYPE SIZE QTY! AMOUNT TIMES Monticello Times 06/16/2022 1236593 150 June 27 PH WiHa Tools New Faci L 1.0 X 7.33 1 138.45 p MCEadE JUN 2 i 2e22 D Net Amount 1]45 Shipping Tax 897954 Amount Due 1 - -- ECM ��// APG PXELi N I� " $30 charge assessed for returned checks. Report errors within 5 days to ensure consideration. PubBliers, Inc CREATIVE GROUP ,qx '�amu:=, I A„r%avw �L4y, .A4��iFJ Unpaid balances over 30 days past due will incur 1.5% finance charge per month (Minimum .50 per month). AFFIDAVIT OF PUBLICATION STATE OF MINNESOTA ) ss COUNTY OF WRIGHT Karen Nelson being duly sworn on an oath, states or affirms that he/she is the Publisher's Designated Agent of the newspaper(s) known as: Monticello Times with the known office of issue being located in the county of: WRIGHT with additional circulation in the counties of: SHERBURNE and has full knowledge of the facts stated below: (A) The newspaper has complied with all of the requirements constituting qualifica- tion as a qualified newspaper as provided by Minn. Stat. §331A.02. (B) This Public Notice was printed and pub- lished in said newspaper(s) once each week, for 1 successive week(s), the first insertion being on 06/16/2022 and the last insertion being on 06116/2022. MORTGAGE FORECLOSURE NOTICES Pursuant to Minnesota Stat. §580.033 relating to the publication of mortgage foreclosure notices: The newspaper complies with the conditions described in §580.033, subd. 1, clause (1) or (2). If the newspaper's known office of issue is located in a county adjoining the county where the mortgaged premises or some part of the mortgaged premises described in the notice are located, a substantial portion of the newspaper's circulation is in the latter county. By: ��:s� y � .�. Designated Agent Subscribed and sworn to or affirmed before me on 06/16/2022 by Karen Nelson. cwv Notary Public .:�erwvw: DARLENE MARIE MACPHERSON NOTARY PUBLIC -MINNESOTA My Commission Expires Jan 3t, 2U24 Rate Information: (1) Lowest classified rate paid by commercial users for comparable space: $18.50 per column inch f. Ad ID 1236593 CITY OF MONTICELLO CITY COUNCIL NOTICE OF PUBLIC HEARING Notice is hereby given that on Monday, June 27, 2022, at the Monticello Community Center, the City of Monticello will hold a pub- lic hearing concerning submittal of an application to the Minnesota Department of Employment and Economic Development for a grant under the Minnesota Investment Fund (MIF) program. The City of Monticello is re- questing approximately $220,000 to assist with the development of a new facility for WiHa Tools. The funds will be used to assist in the acquisition of land and develop- ment of a new 78,400 square foot light assembly and distribution fa- cility. WiHa Tools intends to create approximately 41 new FTE jobs over the next three years. All interested parties are invit- ed to attend the public hearing at which time you will be given the opportunity to express comments on the project. Written testimony will also be accepted at the public hear- ing. Written comments must be received by Thursday, June 23, 2022, at 505 Walnut Street, Suite 1, Monticello, MN 55362, or in an email to communj�/.development® ci.monticelle mn=. Specific ques- tons can be directed to Jim Thares, Economic Development Manager at 763-271-3254 or iim.tharesQ ci.monticello.mn.us. The City of Monticello makes reasonable accommodation for any known disability and to meet the needs of non-English speaking residents that may interfere with a person's ability to participate in this public hearing. Persons needing an accommodation must notify Jim Thares, Economic Development Manager at 763-271-3254 or Lm thares®ci.monticello.mn.us no lat- er than Thursday, June 23, 2022, to allow adequate time to make need- ed arrangements. Published in the Monticello Times June 16, 2022 1236593 From: Jim Thares To: Julie Cheney Subject: RE: ECM (2) Date: Wednesday, July 6, 2022 7:50:53 AM Attachments: imacae001.a_na Hi Julie. These are okay to pay. Please see coding. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 11:58 AM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: ECM (2) Jim Please see the attached invoices from ECM: Inv# 897954 — WiHa Tools PH - $138.45 213-46301-430400 Inv# 897955 —TIF 1-45 - $221.52 TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding. Thanks. Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Cheney@ci.monticello.mn.us AP@ci.monticel lo.mn.us CITY tOF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. DocuSign Envelope ID: D4797D24-E45E-43BC-B6FO-5B6BD02D6F42 Page: 1 Kennedy & Graven, Chartered 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 City of Monticello May 31, 2022 MN190-00101 General EDA Matters Through May 31, 2022 For All Legal Services As Follows: Hours 4/18/2022 GAF Conference call with city staff and T Omdal; review 1.30 agenda; draft email regarding same 5/16/2022 GAF Monthly conference call with EDA staff and T Omdal 1.00 Total Services Amount 286.00 220.00 $ 506.00 Total Services and Disbursements: $ F. 9 V IED D 506.00 From: Jim Thares To: Julie Cheney Subject: RE: Kennedy & Graven (8) Date: Wednesday, July 6, 2022 7:47:36 AM Attachments: imacae001.a_na Julie, these are all okay to pay. Please see coding below. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Wednesday, June 29, 2022 12:02 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Kennedy & Graven (8) Jim Please see the attached invoices from Kennedy & Graven: Inv# MN190-00101— General EDA - $506.00 213-46301-430400 Inv# MN190-00159 — Block 52 Redevelopment - $1,936.00 Deephaven TIF Escrow Account TIF 1- 45 Inv# MN190-00163 —Headwaters Townhomes TIF - $1,736.00 HW TIF Escrow Account TIF 1-43 Inv# MN190-00170 — Headwaters Apartment TIF - $1,538.00 HW TIF Escrow Account TIF 1-42 Inv# MN190-00171— Project Suburban Expansion - $2,271.50 Suburban Closing Statement should have collected funds to cover legal fees; need to double check with Terri Reichert. Can this one wait to be paid later? Inv# MN190-00172 —Washburn POS TIF - $543.00 TIF Escrow Account TIF 1-44 Inv# MN190-00173 — WiHa Tools TIF - $721.00 TIF Escrow Account TIF 1-46 Inv# MN190-00174 —Sale Block 52 - $184.50 Deephaven TIF Escrow Account TIF 1-45 Okay to pay? Please provide coding for each. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Jul ie.Chenev@ci.monticello.mn AP@ci.monticello.mn.us CITY �-�OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. 701 XENIA AVENUE S SUITE 300 MINNEAPOLIS, MN 55416 City of Monticello Attn: Sarah Rathlisberger, CPFO Finance Manager 505 Walnut Street, Suite 1 Monticello, MN 55362-8831 Project/invoice: R-020348-000 - 2 Reviewed by: Bret Weiss Project Manager: Ryan Spencer Block 52 - ARM Assessment City Project # 22CO04 ✓ City Staff Reviewer - Jim Thares GL Acct # 213-46301-431990 Professional Services from May 1 2022 to May 31 2022 Phase 001 Destructive ARM Surveys - 6 Bldgs Project Management Fee Total Fee Percent Complete Billings to Date 14,460.00 81.39 Total Earned Previous Fee Billing Current Fee Billing Total Fee wsb� 11, 769.00 543.00 11, 226.00 11,226.00 Total this Task $11,226.00 Total this Phase $11,226.00 Total this Invoice $11,226.00 Current Prior Total Fee 11,226.00 543.00 11, 769.00 Totals 11,226.00 543.00 11,769.00 From: Jim Thares To: Julie Cheney Subject: RE: WSB (4) Date: Wednesday, July 6, 2022 7:31:13 AM Attachments: imacae001.a_na Hi Julie, these are okay to pay. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Thursday, June 30, 2022 2:31 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: WSB (4) Hi Jim Please see the attached invoices from WSB: Inv# R019675-000 5 - $1,059.00 Inv# R020348-000 2 - $11,226.00 Inv# R020357-000 2 - $15,251.75 Inv# R014511-000 24 - $772.50 Okay to pay? Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Chenev@ci.monticello.mn.us CITY OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. City of Monticello June 29, 2022 Attn: Sarah Rathlisberger, CPFO Finance Manager Project/Invoice: R-020357-000 - 2 `L Reviewed by: Bret Weiss 701 XENIA AVENUES Project Manager: Ryan Spencer SUITE 300 324.00 MINNEAPOLIS, MN wsb 55416 City of Monticello June 29, 2022 Attn: Sarah Rathlisberger, CPFO Finance Manager Project/Invoice: R-020357-000 - 2 505 Walnut Street, Suite 1 Reviewed by: Bret Weiss Monticello, MN 55362-8831 Project Manager: Ryan Spencer Block 52 Structural Assessment and Phase I ESA 324.00 City Project # 22CO04 City Staff Reviewer - Jim Thares GL Acct # 213-46301-431990 Spencer, Ryan Professional Services from Mav 1. 2022 to Mav 31. 2022 Phase 001 Phase I ESA Project Management Hours Rate Amount Phillippi, Michael 5/13/2022 2.00 99.00 198.00 created Phase I ESA Maps Totals 2.00 198.00 Total Labor Total this Task Mobilization / Onsite Interviews / Questionnaires 198.00 $198.00 1,863.00 $1,863.00 Hours Rate Amount Spencer, Ryan 5/10/2022 2.00 162.00 324.00 ERIS - Prep Spencer, Ryan 5/11/2022 6.00 162.00 972.00 Site Visit Spencer, Ryan 5/12/2022 .50 162.00 81.00 photos Spencer, Ryan 5/13/2022 .50 162.00 81.00 report temp Spencer, Ryan 5/16/2022 1.00 162.00 162.00 PM - art space tenant Spencer, Ryan 5/17/2022 1.00 162.00 162.00 schedule, art tenent, other Spencer, Ryan 5/23/2022 .50 162.00 81.00 Phase I Items Totals 11.50 1,863.00 Total Labor Total this Task Interviews / Questionnaires 198.00 $198.00 1,863.00 $1,863.00 Project R-020357-000 MONT - Block 52 Structural Assessment an Invoice 2 Hours Rate Amount Spencer, Ryan 5/23/2022 .50 162.00 81.00 city items Totals .50 81.00 Total Labor 81.00 Total this Task $81.00 MPCA File Reviews Hours Rate Amount Rangitsch, Daniel 5/10/2022 .25 116.00 29.00 reach on the MPCA on missing file, download MPCA file Totals .25 29.00 Total Labor 29.00 Total this Task $29.00 Report / Review Hours Rate Amount Rangitsch, Daniel 5/2/2022 .25 116.00 29.00 download ERIS repoort Rangitsch, Daniel 5/4/2022 .50 116.00 58.00 resubmit MPCA file reuqest for PB listing/confirm complete file for leak site, coordination with Ryan for upcoming work Totals .75 87.00 Total Labor 87.00 Total this Task $87.00 Subconsultant - ERIS Reimbursable Expenses Misc Reimbursable Expense 5/31/2022 ERIS Information, Inc. Invoice No. 22042600857 375.00 Total Reimbursables 375.00 375.00 Total this Task $375.00 Billing Limits Current Prior To -Date Total Billings 2,633.00 241.50 2,874.50 Limit 5,300.00 Remaining 2,425.50 Total this Phase $2,633.00 Phase 002 Structural Assessment Site Visit Hours Rate Amount Konieczny, Samuel 5/12/2022 .50 145.00 72.50 Page 2 Project R-020357-000 MONT - Block 52 Structural Assessment an Invoice 2 Site Visit prep Konieczny, Samuel 5/13/2022 2.00 145.00 290.00 Site Visit Konieczny, Samuel 5/17/2022 6.00 145.00 870.00 Site visit Konieczny, Samuel 5/19/2022 2.00 145.00 290.00 Notes Konieczny, Samuel 5/20/2022 1.00 145.00 145.00 Notes Osberg, Carl 5/5/2022 1.00 206.00 206.00 meeting prep Osberg, Carl 5/6/2022 3.00 206.00 618.00 kickoff meeting and prep Osberg, Carl 5/9/2022 1.00 206.00 206.00 coordination Osberg, Carl 5/11/2022 1.00 206.00 206.00 prep Osberg, Carl 5/12/2022 2.00 206.00 412.00 site visit prep and meeting minutes Osberg, Carl 5/13/2022 8.00 206.00 1,648.00 site visit Osberg, Carl 5/17/2022 1.00 206.00 206.00 check-in with field staff Osberg, Carl 5/23/2022 3.50 206.00 721.00 report Osberg, Carl 5/31/2022 1.00 206.00 206.00 report Spencer, Ryan 5/3/2022 .50 162.00 81.00 pm schedule Spencer, Ryan 5/6/2022 1.00 162.00 162.00 pm - kickoff Stueber, Isaiah 5/10/2022 2.00 97.00 194.00 Working on setting up for the site visit and laying out buildings Stueber, Isaiah 5/11/2022 .75 97.00 72.75 Prepping for the site visit Stueber, Isaiah 5/12/2022 1.00 97.00 97.00 Setting up an app through ArcGIS Stueber, Isaiah 5/13/2022 7.00 97.00 679.00 Structural site visit Stueber, Isaiah 5/16/2022 2.00 97.00 194.00 Prep for Monticello visit Stueber, Isaiah 5/17/2022 7.00 97.00 679.00 Site Inspection Stueber, Isaiah 5/19/2022 1.00 97.00 97.00 Inspection layout Stueber, Isaiah 5/20/2022 2.50 97.00 242.50 Monticello report writing/loading pictures Totals 57.75 8,594.75 Total Labor 8,594.75 Page 3 Project R-020357-000 MONT - Block 52 Structural Assessment an Invoice 2 Total this Task $8,594.75 Structural Analysis Demo Evaluation Hours Phillippi, Michael 5/11/2022 1.00 created AGO Collector Map for Isaiah Totals 1.00 Total Labor Billing Limits Current Total Billings 12,618.75 Limit Remaining Rate Amount 99.00 99.00 99.00 3,925.00 $3,925.00 99.00 Total this Task $99.00 Prior To -Date 1,975.50 14,594.25 24, 500.00 9,905.75 Total this Phase $12,618.75 Total this Invoice $15,251.75 Page 4 Hours Rate Amount Konieczny, Samuel 5/26/2022 2.00 145.00 290.00 Sketches and notes Konieczny, Samuel 5/31/2022 5.00 145.00 725.00 Sketches Stueber, Isaiah 5/2/2022 6.00 97.00 582.00 Structural report Stueber, Isaiah 5/3/2022 2.00 97.00 194.00 Monticello demo report setup Stueber, Isaiah 5/6/2022 2.00 97.00 194.00 Meeting with City and organizing materials Stueber, Isaiah 5/23/2022 3.00 97.00 291.00 Working on the site visit report, uploading pictures Stueber, Isaiah 5/24/2022 3.00 97.00 291.00 Importing pictures and reports Stueber, Isaiah 5/25/2022 4.00 97.00 388.00 Report writing Stueber, Isaiah 5/26/2022 4.00 97.00 388.00 Report writing Stueber, Isaiah 5/27/2022 4.00 97.00 388.00 Report writing Stueber, Isaiah 5/31/2022 2.00 97.00 194.00 Wrapping up reports Totals 37.00 3,925.00 Total Labor Total this Task Demo Evaluation Hours Phillippi, Michael 5/11/2022 1.00 created AGO Collector Map for Isaiah Totals 1.00 Total Labor Billing Limits Current Total Billings 12,618.75 Limit Remaining Rate Amount 99.00 99.00 99.00 3,925.00 $3,925.00 99.00 Total this Task $99.00 Prior To -Date 1,975.50 14,594.25 24, 500.00 9,905.75 Total this Phase $12,618.75 Total this Invoice $15,251.75 Page 4 Project R-020357-000 MONT - Block 52 Structural Assessment an Invoice 2 Billings to Date Current Prior Total Labor 14,876.75 2,217.00 17,093.75 Expense 375.00 0.00 375.00 Totals 15,251.75 2,217.00 17,468.75 Page 5 ERIS Information Inc. 266 Elmwood Avenue E R S Box 930 Buffalo, NY 14222 Toll Free: 1-866-517-5204 Email: info@erisinfo.com Invoice Sold To: WSB & Associates, Inc. 701 Xenia Ave S Suite 300 Minneapolis MN 55416 USA Attn: WSB & Associates Minneapolis Description/Comment Dan Rangitsch 020357-000 Phase 001 / S01 5/4/2022 Customer No: WSB-MN3 Invoice Number: 22042600857 P.O. Number: 020357-000 Invoice Date: 5/2/2022 ERIS Information Inc. TIN#: 47-4776828 266 Elmwood Ave, Box 930, Buffalo, NY 14222 TERMS: NET 30 Days Amount Package: Custom E4 Package (Aerial w Boundary + Xplorer) Database Report 300.00 Aerial Photographs - Historical Aerials (with Project Boundaries) 0.00 Topographic Maps 0.00 City Directory Search - CD - 2 Street Search 75.00 US Fire Insurance Maps 0.00 Physical Setting Report (PSR) 0.00 ERIS Xplorer 0.00 Contact Name: Dan Rangitsch ERIS Order No: 22042600857 Site Name: Monticello - Block 52 Address: Block 52 - River Road at State Highway 25 Monticello MN US Subtotal before taxes: 375.00 USD Taxes: 0.00 USD Tax Total: 0.00 Total: 375.00 USD Page 1 of 1 Amount due: 375.00 USD Payment received: 0.00 Please include remittance details with your payment. ACH Payments: Company Name: ERIS Information Inc. Company Address: 266 Elmwood Ave, Box 930, Buffalo, NY 14222 Bank Name: TD Bank Account Number: 4312541306 ABA Number: 036001808 Account Type: Checking Remittance Detail: receivables@erisinfo.com Pay by Credit Card: Call Donna Carrick (416) 510-6857 Billing Inquiries: dcarrick@erisinfo.com Page 1 of 1 From: Jim Thares To: Julie Cheney Subject: RE: WSB (4) Date: Wednesday, July 6, 2022 7:31:13 AM Attachments: imacae001.a_na Hi Julie, these are okay to pay. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Thursday, June 30, 2022 2:31 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: WSB (4) Hi Jim Please see the attached invoices from WSB: Inv# R019675-000 5 - $1,059.00 Inv# R020348-000 2 - $11,226.00 Inv# R020357-000 2 - $15,251.75 Inv# R014511-000 24 - $772.50 Okay to pay? Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Chenev@ci.monticello.mn.us CITY OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. 701 XENIA AVENUE S SUITE 300 MINNEAPOLIS, MN 55416 �DJUN 3 0 2022 wsb� City of Monticello June 29, 2022 Attn: Sarah Rathlisberger, CPFO Finance Manager Project/Invoice: R-019675-000 - 5 505 Walnut Street, Suite 1 Reviewed by: Bret Weiss Monticello, MN 55362-8831 Project Manager: James Gromberg 2022 Economic Development Services City Staff Reviewer - Jim Thares GL Acct # 213.46301.431993 Professional Services from May 1. 2022 to May 31, 2022 Phase 001 Economic Development Services Monthly Retainer Monthly Retainer $900 / Lump Sum Fee $10.800 for this task. Fee Total Fee 10,800.00 Percent Complete 41.6667 Total Earned 4,500.00 Previous Fee Billing Current Fee Billing Total Fee Meetings - $135/mtg Special Projects Gromberg, James 5/26/2022 Washburn POS Project Information Totals Total Labor Billings to Date 3,600.00 900.00 900.00 Total this Task $900.00 Total this Task 0.00 Hours Rate Amount 1.00 159.00 159.00 1.00 159.00 Total this Task Total this Phase 159.00 $159.00 $1,059.00 Total this Invoice $1,059.00 Current Prior Total Fee 900.00 3,600.00 4,500.00 Labor 159.00 3,418.50 3,577.50 Add-on 0.00 -342.00 -342.00 Totals 1,059.00 6,676.50 7,735.50 From: Jim Thares To: Julie Cheney Subject: RE: WSB (4) Date: Wednesday, July 6, 2022 7:31:13 AM Attachments: imacae001.a_na Hi Julie, these are okay to pay. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Thursday, June 30, 2022 2:31 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: WSB (4) Hi Jim Please see the attached invoices from WSB: Inv# R019675-000 5 - $1,059.00 Inv# R020348-000 2 - $11,226.00 Inv# R020357-000 2 - $15,251.75 Inv# R014511-000 24 - $772.50 Okay to pay? Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Chenev@ci.monticello.mn.us CITY OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. 701 XENIA AVENUE S SUITE 300 MINNEAPOLIS, MN 55416 City of Monticello Attn: Sarah Rathlisberger, CPFO Finance Manager 505 Walnut Street, Suite 1 Monticello, MN 55362-8831 Downtown Redev. Project - Monticello City Staff Reviewer - Jim Thares GL Acct # 213.46301.431993 Professional Services from May 1. 2022 to May 31 2022 Phase 001 Downtown Redev. Project Relocation Assistance Services June 29, 2022 Project/invoice: Reviewed by: Project Manager: wsb� R-014511-000 - 24 Bret Weiss Penny Rolf Hours Rate Amount Rolf, Penny 5/16/2022 .50 206.00 103.00 email w/ Preferred Title re: moving payment Rolf, Penny 5/17/2022 1.00 206.00 206.00 Work on relocation claims for church and Elev. Wellness Rolf, Penny 5/23/2022 .25 206.00 51.50 Preferred Title - emails re: keys and bldg inspection Rolf, Penny 5/24/2022 .25 206.00 51.50 emails re: Preferred Title move out, keys, inspection Rolf, Penny 5/26/2022 1.25 206.00 257.50 Preferred Title - prepared claims, sent for signature to Cindy Heaton Rolf, Penny 5/27/2022 .50 206.00 103.00 Sent Preferred Title claims to EDA for processing Totals 3.75 772.50 Total Labor Total this Task Total this Phase Billing Limits Current Prior To -Date Total Billings 772.50 18,452.42 19,224.92 Limit 19,624.00 Remaining 399.08 772.50 $772.50 $772.50 Total this Invoice $772.50 From: Jim Thares To: Julie Cheney Subject: RE: WSB (4) Date: Wednesday, July 6, 2022 7:31:13 AM Attachments: imacae001.a_na Hi Julie, these are okay to pay. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Thursday, June 30, 2022 2:31 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: WSB (4) Hi Jim Please see the attached invoices from WSB: Inv# R019675-000 5 - $1,059.00 Inv# R020348-000 2 - $11,226.00 Inv# R020357-000 2 - $15,251.75 Inv# R014511-000 24 - $772.50 Okay to pay? Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Chenev@ci.monticello.mn.us CITY OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. Accounts Payable Transactions b Account CITY F User: Debbie.Davidson� Printed: 07/20/2022 - 4:05PM onti ffo Batch: 00203.07.2022 Account Number Vendor Description GL Date Check No Amount PO No 213-00000-155020 LEAGUE OF MN CITIES INS TRU Ins Premium 7/15/22 - 7/15/23 07/26/2022 125837 962.00 Vendor Subtotal for Dept:00000 962.00 213-00000-220110 ECM PUBLISHERS INC TIF 1-46 - PH WiHa Tool Subsidy Ad 07/26/2022 0 184.60 213-00000-220110 ECM PUBLISHERS INC TIF 1-44 - PH Washburn POS Ad# 12 07/26/2022 0 184.60 213-00000-220110 ECM PUBLISHERS INC TIF 1-45 - PH TIF Districts Ad# 1239 07/26/2022 0 259.98 213-00000-220110 ECM PUBLISHERS INC TIF 1-46 - EDA Land Sale Ad# 1240 07/26/2022 0 258.44 Vendor Subtotal for Dept:00000 887.62 213-00000-220110 NORTHLAND SECURITIES INC TIF 1-46 Wiha Tools - June 2022 07/26/2022 125848 1,505.00 213-00000-220110 NORTHLAND SECURITIES INC TIF 1-45 - Block 52 - June 2022 07/26/2022 125848 3,225.00 Vendor Subtotal for Dept:00000 4,730.00 213-46301-436100 LEAGUE OF MN CITIES INS TRU Ins Premium 7/15/22 - 7/15/23 07/26/2022 125837 688.00 Vendor Subtotal for Dept:46301 688.00 213-46301-461500 PREFERRED TITLE INC Block 52 Relocation - Move Personal 07/26/2022 125852 2,342.44 213-46301-461500 PREFERRED TITLE INC Block 52 Relocation - Re-establishmei 07/26/2022 125852 38,665.66 Vendor Subtotal for Dept:46301 41,008.10 213-46301-461500 ALIVE LUTHERAN CHURCH Relocation Benefit - Payment 94 07/26/2022 125807 3,667.24 AP -Transactions by Account (07/20/2022 - 4:05 PM) Page 1 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-461500 ALIVE LUTHERAN CHURCH Relocation Benefit - Moving Expense 07/26/2022 125807 47.36 Vendor Subtotal for Dept:46301 3,714.60 213-46301-461500 INNOVATIVE STUCCO INC Relocation Benefit Payment #3 07/26/2022 125828 30,000.00 Vendor Subtotal for Dept:46301 30,000.00 213-46301-461500 SHILOH THOMPSON Relocation Benefit Payment #3 07/26/2022 125864 1,712.44 Vendor Subtotal for Dept:46301 1,712.44 213-46522-431990 NORTHLAND SECURITIES INC 2021 Annual TIF reporting- District 2. 07/26/2022 125848 1,000.00 Vendor Subtotal for Dept:46522 1,000.00 213-46540-465110 GRANITE CITY REAL ESTATE Pay As You Go - 1st Pmt 2022 Interest 07/26/2022 125824 22,301.46 Vendor Subtotal for Dept:46540 22,301.46 213-46585-465110 LAXMI HOTEL INC Pay As You Go - 1 st Pmt 2022 - Intere 07/26/2022 125836 6,197.84 Vendor Subtotal for Dept:46585 6,197.84 Subtotal for Fund: 213 113,202.06 Report Total: 113,202.06 AP -Transactions by Account (07/20/2022 - 4:05 PM) Page 2 (-may/9 �1/\W^,// LEAGUEr ri I - v< o MINNESOTA CONNECTING & INNOVATING CITIES SINCE 1913 Invoice Page 1 of 3 Member Name and Address Invoice Date Monticello, City Of 07/01/2022 505 Walnut Street, Suite #1 Monticello, MN 55362-8821 Agent Foster White Agency Inc 114 W 3rd St Monticello, MN 55362-4574 (763)295-2614 Account Number: 40001103 Account Type Property/Casualty Coverage Premium Current Balance: $ 195,353.00 Minimum Due: $ 195,353.00 Due Date: 08/15/2022 Summary of Date Activity Account Balance Minimum Due activity since Previous Invoice Balance 178,282.00 last Billing Payments Received -178,282.00 Invoice Total of Transactions and Fees shown on reverse or attached 195,353.00 See reverse side and attachments for additional information Current Balance $ 195,353.00 $ 195,353.00 Detach and Account Number Invoice Date return this 40001103 07/01/2022 Payment Coupon with your payment Member Name Monticello, City Of Due Date Current Balance Minimum Due 08/15/2022 $ 195,353.00 195,353.00 BILLING INVOICE - Return stub with payment - make checks payable to: Amount Enclosed Mail payment League of MN Cities Insurance Trust P&C 7 days before c/o Berkley Risk Administrators Company Due Date to 222 South Ninth Street, Suite 2700 ensure timely P.O. Box 581517 receipt Minneapolis, MN 55458-1517 j-EAGU MIN NESOTA CONNECTING & INNOVATING CITI ES SINCE 1913 Invoice Page 2 of 3 Detail of Package 1003507-5 Agreement Period 07/15/2021 - 07/15/2022 activity since Agreement Previous Balance last Invoice Payment 08/13/2021 Agreement Ending Balance Package 1003507-6 Agreement Period 07/15/2022 - 07/15/2023 Agreement Previous Balance Renewal - PR 06/30/2022 Agreement Ending Balance Defense Cost Reimbursement 1003509-5 Agreement Period 07/15/2021 - 07/15/2022 Agreement Previous Balance Agreement Ending Balance Defense Cost Reimbursement 1003509-6 Agreement Period 07/15/2022 - 07/15/2023 Agreement Previous Balance Agreement Ending Balance Transaction Amount Minimum Due $ 178,282.00 $ -178,282.00 $ 0.00 $ 0.00 $ 0.00 $ 195,353.00 $ 195,353.00 $ 195,353.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 Total Current Balance $ 195,353.00 Total Minimum Due $ 195,353.00 ,1:,,4z- ! - {,}f} }§}§( }f(I - ' RRE42lSRgaq\3 lwQE9 ' &;RRra9 p9gael %- -I ;, / oz ` )\ _. ,.......;r;.;.:...,,.. ,..,.�_,.,, lwQE9 ' &;RRra9 p9gael %- -I ;, / oz ` )\ ECM Publishers, Inc. 4095 Coon Rapids Blvd. Coon Rapids, MN 55433 Address Service Requested CITY OF MONTICELLO ATTN: ACCOUNTS PAYABLE 505 WALNUT ST STE 1 MONTICELLO, MN 55362 PLEASE CHECK BOX IF ADDRESS CHANGED & INDICATE NEW ADDRESS Page # 1 Invoice Date 6/30/2022 Invoice Number Ad Number 899949 1239909 Terms Net 30 Check Number Amount Paid Account# 429204 $184.60 ACCOUNT NUMBER START DATE STOP DATE EDITION DATE ACCOUNT REPRESENTATIVE 429204 06/30/22 06/30/22 6/30/2022 Monticello Legals 763-691-6001 Please return the upper portion with your payment. Or call 763-712-2494 with a credit card payment. PUBLICATION DATEAD# 71--1 DESCRIPTIONITAG LINE TYPE SI 'E QTY/ AMOUNT ( I _TIMES i Monticello Times 06/30/2022 1239909 150 July 13 PH Wiha Tools Subsidy L 1.0 X 9.67 1 184.60 D "n22 Net Amount 184.60 Shipping 0.00 Tax 0.00 899949 Amount Due 184.60 ECM- APG �' _ llz �.: $30 charge assessed for returned checks. Report errors within 5 days to ensure consideration. 1 CREW. -'!VE GROUP Unpaid balances over 30 days past due will incur a 1.5% finance charge per month (Minimum .50 per month). AFFIDAVIT OF PUBLICATION CITY OF MONTICELLO NOTICE OF STATE OF MINNESOTA ) ss PUBLIC HEARING COUNTY OF WRIGHT CITY OF MONTICELLO ECONOMIC DEVELOPMENT Debra Schwalba being duly sworn on an AUTHORITY oath, states or affirms that he/she is the WRIGHT COUNTY, Publisher's Designated Agent of the newspa- MINNESOTA per(s) known as: NOTICE IS HEREBY GIVEN that the Board of Commissioners (the Monticello Times "Board") of the City of Monticello Economic Development Authority with the known office of issue being located (the "Authority"), will hold a pub - lic hearing on July 13, 2022, at a in the county of: meeting of the Board beginning WRIGHT at approximately 6:00 p.m., or as with additional circulation in the counties of. soon thereafter as the matter may SHERBURNE be heard, in the Mississippi Room of the Monticello Community Cen- and has full knowledge of the facts stated ter located at 505 Walnut Street in below: the City of Monticello, Minnesota (A) The newspaper has complied with all of (the "City'), to consider a proposed the requirements constituting qualifica- business subsidy under Minne- sota Statutes, Sections 116J.993 tion as a qualified newspaper as provided through 116J.995, as amended (the by Minn. Stat. §331A.02. 'Business Subsidy Law'), for Wiha (B) This Public Notice was printed and pub- Tools USA, a Minnesota corpora- lished in said newspaper(s) once each tion, or an entity affiliated therewith or related thereto ("the Developer"), week, for 1 successive week(s); the first in connection with the construction insertion being on 06/30/2022 and the last an approximately 78,400 square insertion being on 06/30/2022. foot building to provide a facility for manufacturing in the City (the .'Project"). The Authority proposes MORTGAGE FORECLOSURE NOTICES to provide tax increment assistance Pursuant to . Minnesota Stat. §580.033 to the Developer in connection with to the publication of mortgage relating pInformation the Project. about the proposed foreclosure notices: The newspaper complies business subsidy for the Develop - with the conditions described in §580.033, er is available for inspection at the subd. 1, clause (1) or (2). If the newspaper's office of the Authority's Executive known office of issue is located in a county Director at City Hall during regular adjoining the county where the mortgaged business hours. After the public hearing the Authority will consid- premises or some part of the mortgaged er granting the business subsidy premises described in the notice are located, in accordance with the proposed a substantial portion of the newspaper's terms. circulation is in the latter county. ' WiHa Tools to create 41 New FTE Jobs ` MIF Loan of $220,000 at 0.0% Interest $y; ' 10 -year Amortization Loan Amount Forgivable Based Designated Agent on Compliance to Job Creation Subscribed and sworn to or affirmed before A person with residence in or me on 06/30/2022 by Debra Schwalba. the owner of taxable property in the City may file a written complaint with the Authority if the Authority fails to comply with the Business Subsidy Law, and no action may be filed against the Authority for the failure to comply unless a written complaint is filed. All interested persons may ap- Notary Pubric pear at the hearing and present their views on the matters orally or provide their comments prior to the meeting in writing. a�d=BVY+ivi �s Dated: June 30, 2022 DARLENE MARIE7MACPHERSONNOTARY PUBLICNNESOTA BY ORDER OF THE BOARD OF My C nin1ww E) Jan 31, 2024 COMMISSIONERS OF THE CITY OF MONTICELLO ECONOMIC DE- VELOPMENT AUTHORITY /s/ Jim Thares Rate Information: Executive Director (1) Lowest classified rate paid by commercial users Published in the for comparable space: Monticello Times $18.50 per column inch June 30, 2022 1239909 Ad ID 1239909 From: Jim Thares To: Julie Cheney Subject: RE: ECM (4) Date: Tuesday, July 19, 2022 9:49:22 AM Attachments: imacae001.a_na Hi Julie. These are all okay to pay. Please see coding below. If you have any questions, please let me know. Thank you. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Monday, July 18, 2022 12:01 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: ECM (4) Jim Please see the attached invoices from ECM: Inv# 899949— PW WiHa Tools - $184.60 - Code to Wiha Tools TIF Escrow Account Inv# 899950— PH Washburn - $184.60 - Code to Washburn TIF Escrow Account Inv# 899951— PH TIF Districts - $259.98 - Code to Deephaven TIF Escrow Account Inv# 899952 — PH EDA Land Sale - $258.44 - Code to Wiha Tools TIF Escrow Account Okay to pay? Please provide coding. Sorry for the short notice as I was out last week. Please approve by 10 AM Wednesday 7/20 so I can include in the check run. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Chenev@ci.monticell CITY OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. ECMPublishers, Inc, 4095 Coon Rapids Blvd. Coon Rapids, MN 55433 Address Service Requested INVOICE CITY OF MONTICELLO ATTN: ACCOUNTS PAYABLE 505 WALNUT ST STE 1 MONTICELLO, MN 55362 PLEASE CHECK BOX IF ADDRESS CHANGED & INDICATE NEW ADDRESS Page # 1 Invoice Date 6/30/2022 Invoice Number Ad Number 899950 1239910 Terms Net 30 Check Number Amount Paid Account# 429204 $184.60 ACCOUNT NUMBER START DATE STOP DATE EDITION DATE= ACCOUNT REPRESENTATIVE 429204 06/30/22 06/30/22 1 6/30/2022 1 Monticello Legals 763-691-6001 Nlease return the upper portion with your payment. Or call 763-712-2494 with a credit card payment. PUBLIGATION i DATE�7[ AD# CLASS DESCRIPTION/TAG LINE TYPE SIZE QTY/ f AMOUNT ! TtMES { Monticello Times 06/30/2022 1239910 150 July 13 PH Washburn Computer G L 1.0 X 10.00 1 184.60 SNI 899950 09M Net Amount 184.60 Shipping 0.00 Tax 0.00 Amount Due 184.60 $30 charge assessed for returned checks. ECMPIXELS Report errors within 5 days to ensure consideration. CREATIVE GROUP Unpaid balances over 30 days past due will incur 1.5% 1111(le"o finance charge per month (Minimum .50 per month). AFFIDAVIT OF PUBLICATION CITY OF MONTICELLO NOTICE OF STATE OF MINNESOTA ) PUBLIC HEARING ss COUNTY OF WRIGHT CITY OF MONTICELLO ECONOMIC DEVELOPMENT Debra Schwalba being duly sworn on an AUTHORITY oath, states or affirms that he/she is the WRIGHT COUNTY, Publisher's Designated Agent of the newspa- MINNESOTA per(s) known as: NOTICE IS HEREBY GIVEN that the Board of Commissioners (the Monticello Times "Board") of the City of Monticello Economic Development Authority with the known office of issue beinglocated tine "Authority"), will hold 2, at a lic hearing on July 13, 2022, at a in the county of: meeting of the Board beginning WRIGHT at approximately 6:00 p.m., or as with additional circulation in the counties of. soon thereafter as the matter may SHERBURNE be heard, in the Mississippi Room of the Monticello Community Cen- and has full knowledge of the facts stated ter located at 505 Walnut Street in below: the City of Monticello, Minnesota (A) The newspaper has complied with all of (the to consider a proposed the requirements constituting qualifica- ncity"), business subsidy under Minne- sota Statutes, Sections 116J.993 tion as a qualified newspaper as provided through 116J.995, as amended (the by Minn. Stat. §331A.02. "Business Subsidy Law"), for The (B) This Public Notice was printed and pub- Washburn Computer Group, Inc., a lished in said newspaper(s) once each Minnesota corporation, or an affil- iated therewith or created thereby week, for 1 successive week(s); the first ("the Developer"), in connection insertion being on 06/30/2022 and the last with the construction an approxi- insertion being on 06/30/2022. mately 42,500 square foot expan- sion to an existing 33,000 square foot building to provide a facility for MORTGAGE FORECLOSURE NOTICES warehousing and distribution in the Pursuant to Minnesota Stat. §580.033 City (the "Project'). The Authority relating to the publication of mortgage proposes to provide tax increment assistance in an amount not to ex - foreclosure notices: The newspaper complies ceed $407,629 to the Developer in with the conditions described in §580.033, connection with the Project. subd. 1, clause (1) or (2). If the newspaper's known office of issue is located in a county Information about the proposed business subsidy for the Develop - adjoining the county where the mortgaged er is available for inspection at the premises or some part of the mortgaged office of the Authority's Executive premises described in the notice are located, Director at City Hall during regular a substantial portion of the newspaper's business hours. After the public hearing the Authority will consid- circulation is in the latter county. er granting the business subsidy in accordance with the proposed terms. By: TIF Assistance Amount Designated Agent of $407,629 Washburn Computer Group to Create 35 New FTE Jobs Subscribed and sworn to or affirmed before me on 06/30/2022 by Debra Schwalba. A person with residence in or the owner of taxable property in the City may file a written complaint with the Authority if the Authority fails to comply with the Business Subsidy Law, and no action may be filed against the Authority for the R / failure tocomply unless a written � complaint is filed. All interested persons may ap- Notary Public pear at the hearing and present w their views on the matters orally or DARLENE MARIE MACPHERSON Provide their comments prior to the meeting in writing. NOTARY PUBLIC - MINNESOTA My Commission Expkes Jan 31, 2024 Dated: June 20, 2022 BY ORDER OF THE BOARD OF COMMISSIONERS OF THE CIN OF MONTICELLO Rate Information: (1) Lowest classified rate paid by commercial users for comparable space: $18.50 per column inch Ad ID 1239910 ECONOMIC DEVELOPMENT AUTHORITY /s/ Jim Thares Executive Director Published in the Monticello Times June 30, 2022 1239910 From: Jim Thares To: Julie Cheney Subject: RE: ECM (4) Date: Tuesday, July 19, 2022 9:49:22 AM Attachments: imacae001.a_na Hi Julie. These are all okay to pay. Please see coding below. If you have any questions, please let me know. Thank you. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Monday, July 18, 2022 12:01 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: ECM (4) Jim Please see the attached invoices from ECM: Inv# 899949— PW WiHa Tools - $184.60 - Code to Wiha Tools TIF Escrow Account Inv# 899950— PH Washburn - $184.60 - Code to Washburn TIF Escrow Account Inv# 899951— PH TIF Districts - $259.98 - Code to Deephaven TIF Escrow Account Inv# 899952 — PH EDA Land Sale - $258.44 - Code to Wiha Tools TIF Escrow Account Okay to pay? Please provide coding. Sorry for the short notice as I was out last week. Please approve by 10 AM Wednesday 7/20 so I can include in the check run. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Chenev@ci.monticell CITY OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. ECM Publishers, Inc. 4095 Coon Rapids Blvd, Coon Rapids, MN 55433 Address Service Requested INVOICE CITY OF MONTICELLO ATTN: ACCOUNTS PAYABLE 505 WALNUT ST STE 1 MONTICELLO, MN 55362 ❑ PLEASE CHECK BOX IF ADDRESS CHANGED & INDICATE NEW ADDRESS - Page # 1 Invoice Date 6/30/2022 Invoice Number Ad Number 899951 1239916 Terms Net 30 Check Number Amount Paid Account # 429204 $259.98 ACCOUNT NUMBER START DATE STOP DATE EDITION DATE ACCOUNT REPRESENTATIVE 429204 06/30/22 06/30/22 6/30/2022 Monticello Legals 763-691-6001 Please return the upper portion with your payment. Or call 763-712-2494 with a credit card payment. PUBLICATION DATE AD# CLASS DESCRIPTION/TAG LINE TYPE SIZE QTY/ AMOUNT Monticello Times 06/30/2022 1239916 150 July 11 PH TIF Districts LD 2.0 X 6.42 1 259.98 899951 Net Amount 25998 Shipping 0.00 Tax 0.00 Amount Due 25998 $30 charge assessed for returned checks. ECM IWGPIXELINK Report errors within 5 days to ensure consideration. CREXHVE GROUP Unpaid balances over 30 days past due will incur 1.5% finance charge per month (Minimum .50 per month). AFFIDAVIT OF PUBLICATION STATE OF MINNESOTA ) ss COUNTY OF WRIGHT Debra Schwalba being duly sworn on an oath, states or affirms that he/she is the Publisher's Designated Agent of the newspa- per(s) known as: Monticello Times with the known office of issue being located in the county of: WRIGHT with additional circulation in the counties of: SHERBURNE and has full knowledge of the facts stated below: (A) The newspaper has complied with all of the requirements constituting qualifica- tion as a qualified newspaper as provided by Minn. Stat. §331A.02. (B) This Public Notice was printed and pub- lished in said newspaper(s) once each week, for 1 successive week(s); the first insertion being on 06/30/2022 and the last insertion being on 06/30/2022. MORTGAGE FORECLOSURE NOTICES Pursuant to Minnesota Stat. §580.033 relating to the publication of mortgage foreclosure notices: The newspaper complies with the conditions described in §580.033, subd. 1, clause (1) or (2). If the newspaper's known office of issue is located in a county adjoining the county where the mortgaged premises or some part of the mortgaged premises described in the notice are located, a substantial portion of the newspaper's circulation is in the latter county. By Designated Agent Subscribed and sworn to or affirmed before me on 06/30/2022 by Debra Schwalba. Notary Public DARLENE MARIE MACPHERSON NOTARY PUBLIC - MINNESOTA My Commission IbOes Jan 31, 2024 Rate Information: (1) Lowest classified rate paid by commercial users for comparable space: $18.50 per column inch Ad ID 1239916 CITY OF MONTICELLO NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the City Council of the City of Mon- ticello, Minnesota, will hold a public hearing on Monday, July 11, 2022, at approximately 6:30 p.m. in the Mississippi Room, at the Monticello Community Center , 505 Walnut Street, Monticello, relating to the pro- posed establishment of Tax Increment Financing District No. 1-46 (the "TIF District") within the Central Monticello Redevelopment Project No. 1, and the proposed approval of a Tax Increment Financing Plan (the "Tax Increment Financing Plan") relating to the TIF District, pursuant to Minnesota Statutes, Sections 469.090 to 469.1081, as amended, Sections 469.001 through 469.047, as amended, and Sections 469.174 through 469.1794, as amended. Copies of the proposed Tax Increment Financing Plan will be on file and available for public inspection at the office of the City Clerk at City Hall. The property included within Central Monticello Redevelopment Project No. 1 is described in the Redevelopment Plan on file in the of- fice of the City Clerk. The property to be included within the proposed TIF District is described in the Tax Increment Financing Plan on file in the office of the City Clerk. The boundaries of Central Monticello Rede- velopment Project No. 1 and the proposed TIF District are shown in the following map. y� `i` ;14nua1 M.Mk jo I4Atu k*—.t P,.*d Ai1 _4lNJt1'.MI rta ,.,.r MoniKeNo. M(# All interested persons may appear at the hearing and present their views orally or in writing prior to the hearing to City Hall, 505 Walnut Street, Monticello, MN 55362. BY ORDER OF THE CITY COUNCIL /s/ Jennifer Schreiber City Clerk Published in the Monticello Times June 30, 2022 1239916 From: Jim Thares To: Julie Cheney Subject: RE: ECM (4) Date: Tuesday, July 19, 2022 9:49:22 AM Attachments: imacae001.a_na Hi Julie. These are all okay to pay. Please see coding below. If you have any questions, please let me know. Thank you. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Monday, July 18, 2022 12:01 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: ECM (4) Jim Please see the attached invoices from ECM: Inv# 899949— PW WiHa Tools - $184.60 - Code to Wiha Tools TIF Escrow Account Inv# 899950— PH Washburn - $184.60 - Code to Washburn TIF Escrow Account Inv# 899951— PH TIF Districts - $259.98 - Code to Deephaven TIF Escrow Account Inv# 899952 — PH EDA Land Sale - $258.44 - Code to Wiha Tools TIF Escrow Account Okay to pay? Please provide coding. Sorry for the short notice as I was out last week. Please approve by 10 AM Wednesday 7/20 so I can include in the check run. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Chenev@ci.monticell CITY OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. ECM Publishers, Inc. 4095 Coon Rapids Blvd, Coon Rapids, MN 55433 Address Service Requested INVOICE CITY OF MONTICELLO ATTN: ACCOUNTS PAYABLE 505 WALNUT ST STE 1 MONTICELLO, MN 55362 D PLEASE CHECK BOX IF ADDRESS CHANGED & INDICATE NEW ADDRESS Page # 1 Invoice Date 6/30/2022 Invoice Number Ad Number 899952 1240377 Terms Net 30 Check Number Amount Paid Account# 429204 $258.44 ACCOUNT NUMBER START DATE STOP DATE EDITION DATE ACCOUNT REPRESENTATIVE 429204 06/30/22 06/30/22 6/30/2022 Monticello Legals 763-691-6001 El Please return the upper portion with your payment. Or call 763-712-2494 with a credit card payment. PUBLICATIONS DATE f AD# CLASS DESCRIPTION/TAG LINE TYPE SIZE TIOMES I AMOUNT Monticello Times 06/30/2022 1240377 899952 150 July 13 PH - EDA Land Sale 1.0 X 13.56 D l,l _ 2K,22 258.44 Net Amount 258.44 Shipping 0.00 Tax 0.00 Amount Due 258.44 $30 charge assessed for returned checks. ECM APG PIXELPIXELINN Report errors within 5 days to ensure consideration. Publishers, t;c. ,a,.� A„ CREATIVE GROUPv F- Unpaid balances over 30 days past due will incur 1.5% otst finance charge per month (Minimum .50 per month). AFFIDAVIT OF PUBLICATION CITY OF MONTICELLO NOTICE OF STATE OF MINNESOTA ) PUBLIC HEARING ss COUNTY OF WRIGHT CITY OF MONTICELLO ECONOMIC DEVELOPMENT Debra Schwalba being duly sworn on an AUTHORITY oath, states or affirms that he/she is the WRIGHT COUNTY, Publisher's Designated Agent of the newspa- MINNESOTA per(s) known as: NOTICE IS HEREBY GIVEN that the Board of Commissioners of Monticello Times the City of Monticello Economic Development Authority (the "Au- with the known office of issue being located thority") will hold a public hearing on Wednesday, July 13, 2022 at in the county of: approximately 6:00 P.M. or as soon WRIGHT thereafter as the matter may be with additional circulation in the counties of: heard, in the Mississippi Room of SHERBURNE the Monticello Community Center located at 505 Walnut Street in the and has full knowledge of the facts stated City of Monticello, Minnesota (the below: "City") regarding two matters: (A) The newspaper has complied with all of the requirements constituting qualifica- 1, Land Sale. The Authority will conduct a public hearing to con - tion as a qualified newspaper as provided sider the proposed sale of certain by Minn. Stat. §331A.02. property owned by the Authori- (B) This Public Notice was printed and pub- ty (the "Property') to Deephaven lished in said newspaper(s) once each Development LLC, a Minnesota limited liability company, or an week, for 1 successive week(s); the first entity related thereto or affiliated insertion being on 06/30/2022 and the last therewith (the "Redeveloper"), for insertion being on 06/30/2022. the construction and development of a mixed-use five -story building to include approximately 87 rental MORTGAGE FORECLOSURE NOTICES housing units and approximately Pursuant to Minnesota Stat. §580.033 27,342 square feet of commercial relating to the publication of mortgage retail and office space and related parking (the "Project") in further - foreclosure notices: The newspaper complies ance of the Authority's goals for its with the conditions described in §580.033, Central Monticello Redevelopment subd. 1, clause (1) or (2). If the newspaper's Project No. 1. The Property is le - known office of issue is located in a county gally described as follows: adjoining the county where the mortgaged 101 W Broadway, premises or some part of the mortgaged 107 W Broadway, premises described in the notice are located, 113 W Broadway, a substantial portion of the newspaper's 121 W Broadway, 103 Pine St circulation is in the latter county. To be Replatted as "Lot 2, Block 1, Block 52 First Addition" The Authority will consider the By: sale of the Property under Minne- sota Statutes, Section 469.105, as amended. A summary of the terms and conditions of the land sale is Subscribed and sworn to or affirmed before available for public inspection at me on 06/30/2022 by Debra Schwalba. City Hall during regular business hours. At the hearing, the Author- ity will meet to decide if the sale is advisable. 2. Business Subsidy. In ad- dition, the Authority will conduct a public hearing to consider the provisions of a proposed business subsidy under Minnesota Stat- Notary Public utes, Sections 116J.993 through 116J.995, as amended (the "Busi- ness Subsidy Law"), to the Re- developer, in connection with the DARLENE �4Ai$!E MACPHERSON Project. The Authority proposes to NOTARY PIIBLiC - MINNESOTA provide tax increment assistance, a Minnesota Department of Employ - My COmmissW Expires Jen 31, 2024 ment and Economic Development Redevelopment Grant, and a land write down to the Redeveloper in connection with the Project. Rate Information: Information about the proposed (1) Lowest classified rate paid by commercial users business subsidy for the Redevel- oper is available for inspection at for comparable space: the office of the Authority's Exec - $18.50 per column inch , utive Director at City Hall during regular business hours. After the Ad ID 1240377 public hearing the Authority will consider granting the business subsidy in accordance with the proposed terms. A person with residence in or the owner of tax- able property in the City may file a written complaint with the Authority if the Authority fails to comply with the Business Subsidy Law, and no action may be filed against the Authority for the failure to comply unless a written complaint is filed. All interested persons may ap- pear at the hearing and present their views on the matters orally or provide their comments prior to the meeting in writing. Dated: June 30, 2022 BY ORDER OF THE BOARD OF COMMISSIONERS OF THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY /s/ Jim Thares Executive Director Published in the Monticello Times June 30, 2022 1240377 From: Jim Thares To: Julie Cheney Subject: RE: ECM (4) Date: Tuesday, July 19, 2022 9:49:22 AM Attachments: imacae001.a_na Hi Julie. These are all okay to pay. Please see coding below. If you have any questions, please let me know. Thank you. From: Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Sent: Monday, July 18, 2022 12:01 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: ECM (4) Jim Please see the attached invoices from ECM: Inv# 899949— PW WiHa Tools - $184.60 - Code to Wiha Tools TIF Escrow Account Inv# 899950— PH Washburn - $184.60 - Code to Washburn TIF Escrow Account Inv# 899951— PH TIF Districts - $259.98 - Code to Deephaven TIF Escrow Account Inv# 899952 — PH EDA Land Sale - $258.44 - Code to Wiha Tools TIF Escrow Account Okay to pay? Please provide coding. Sorry for the short notice as I was out last week. Please approve by 10 AM Wednesday 7/20 so I can include in the check run. Thank you! Julie Cheney Finance Assistant City of Monticello 763-271-3205 Julie.Chenev@ci.monticell CITY OF Monticello Email correspondence to and from the City of Monticello government offices is subject to the Minnesota 6overnment Data Practices Act and may be disclosed to third parties. Northland Securities, Inc. 150 South Fifth Street Suite 3300 Minneapolis, MN 55402 Voice: 612-851-5900 Fax: 612-851-5951 Bill To: Citv of Monticello Jim Thares, Economic Development Manager 505 Walnut Street, Suite 1 Monticello, MN 55362 Invoice NORTHLAND Invoice Number: 7187 SECURITIES Invoice Date: 7/8/22 Page: n �� Tr 1�Vfcy`. 1 �f JUL 1 Lu22 Customer PO Payment Terms Sales Rep ID Due Date TIF District 1-46 Net 30 Days 8/7/2-2 Description Amount For services related to Tax Increment District 1-46 (WihaTools). lease see enclosed detail. 1,505,00 Subtotal 1,505.00 Sales Tax Total Invoice Amount 1,505.00 Payment Received TOTAL 11505.00 Main 612-851-5900 1 roil -Free 800-851-2920 I Fax 612-.851-5987 150 South Fifth Street, Suite 3300 ! Minneapolis, MN 55402 North la ndSecurities.corn Monthr FINRA ruuf 5111C, Registewd wiiie 5ECamf M5R8 NORTHLAND PLIELI{ FINANCE INVOICE SUPPLEMENT Client: City of Monticello Project: Tax Increment District 1-46 (Wiha Tools) Contact: Jim Thares Economic Development Manager City of Monticello 505 Walnut Street Suite 1 Monticello, MN 55362 Billing Period: June 2022 Services Performed • Update TIF Plan based on changes to scope of development and phases • Second notice to county and school district • Assist with documents for authorizing the TIF District and approving the TIF Plan Staff Time Position Hours Rate Billable Senior Professional 7.00 $215 $1,505.00 Total Staff 7.00 $1,505.00 Expenses Mileage $0.00 Printing $0.00 Other $0.00 Total Expenses $0.00 Total This Period $1,505.00 Project Summary Total Budget $ 4,200.00 Billed This Period ($1,505.00) Billed Previous ($4,730.00) Budget Remaining $ 2,965.00 Northland Securities, Inc. Page 2 of 2 From: Jim Thares To: AP Subject: RE: Northland Securities (2) invoices $1505 & $3225 Date: Monday, July 11, 2022 2:49:52 PM Attachments: imacie001.a_na Hi Debbie. Yes, the two invoices are okay to pay. Please code to the project specific TIF Escrow accounts for both of these invoices. If you have any questions, please let me know. From: AP <AP@ci.monticello.mn.us> Sent: Monday, July 11, 2022 2:35 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Northland Securities (2) invoices $1505 & $3225 Hello Jim, Please see the (2) attached invoices from Northland Securities. Okay to pay the following?: Northland Securities 7186 inv. 7-8-22 S3,Z25 Northland Securities 7187 inv. 7-8-22 51,505 Thank you, Debbie T�av�dSov' Finance Clerk City of Monticello 763-271-3225 t)ebbie.davidson@ci.monticello.mn.us an@ci.monticel lo.mn.us Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. Northland Securities, Inc. 150 South Fifth Street Suite 3300 Minneapolis, MN 55402 Voice: 612-851-5900 Fax: 612-851-5951 Sill To: City of Monticello Jim Thares, Economic Development Manager 505 Walnut Street, Suite 1 Monticello, MN 55362 Invoice NORTHLAND Invoice Number: 7186 SECURITIES Invoice Date: 7/8/22 Page: ril[EF4 j- } JUL 1 1 cJ22 t! ' I Customer PO Payment Terms Sales Rep ID Due Date TIF District 1-45 Net 30 Days 8/7/22 Description Amount For services related to Tax Increment District 1-45 (Block 52). Please see enclosed detail. 3,225.00 Subtotal 3,225.00 Sales Tax Total Invoice Amount 3,225.00 Payment Received TOTAL 3,225.00 Main 612-851-5900 1 Toll -Free 800-851-2920 I Fax 612-851-5987 1S0 South Fifth Street, Suite 3300 1 Minneapolis, MSV 55402 Nortlrland5ecurities.com Mewber ElNRA and SWC, Registerrd with SECdnd M5RB NORTHLAND PUOL�C FINANCE INVOICE SUPPLEMENT Client: City of Monticello Project: Tax Increment District 1-45 (Block 52) Contact: Jim Thares Economic Development Manager City of Monticello 505 Walnut Street Suite 1 Monticello, MN 55362 Billing Period: June 2022 Services Performed • Update draft TIF Plan based on revised valuation and assumptions • Attend EDA and City Council meetings to consider establishment of TIF • Update terms for assistance Staff Time Position Hours Rate Billable Senior Professional 15.00 $215 $3,225.00 Total Staff 15.00 $3,225.00 Expenses Mileage $0.00 Printing $0.00 Other $0.00 Total Expenses $0.00 Total This Period S3.225 -On Project Summary Total Budget* $ 10,535.00 Billed This Period ($3,225.00) Billed Previous ($9,075.15) Budget Remaining* $ (1,765.15) *Additional scope of services based on staff direction and changes to scope pursuant to terms of agreement Northland Securities, Inc. Page 2 of 2 From: Jim Thares To: AP Subject: RE: Northland Securities (2) invoices $1505 & $3225 Date: Monday, July 11, 2022 2:49:52 PM Attachments: imacie001.a_na Hi Debbie. Yes, the two invoices are okay to pay. Please code to the project specific TIF Escrow accounts for both of these invoices. If you have any questions, please let me know. From: AP <AP@ci.monticello.mn.us> Sent: Monday, July 11, 2022 2:35 PM To: Jim Thares <Jim.Thares@ci.monticello.mn.us> Subject: Northland Securities (2) invoices $1505 & $3225 Hello Jim, Please see the (2) attached invoices from Northland Securities. Okay to pay the following?: Northland Securities 7186 inv. 7-8-22 S3,Z25 Northland Securities 7187 inv. 7-8-22 51,505 Thank you, Debbie T�av�dSov' Finance Clerk City of Monticello 763-271-3225 t)ebbie.davidson@ci.monticello.mn.us an@ci.monticel lo.mn.us Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. 213 CIT]' OE NIONTICELLO VOUCHER Please complete, sign, ondsubmit to Accts Payable by one dutefor check run. DISTRIBUTION OF EXPENSE. Pay bN la 20 2-z Dish. Ck. Batch VENDOR: Name2 (p� Address I dS4 -A QQ '0 Address2 = ' — peiO��Je Citv;SliZip Mares ; �� M� C�� 3Q-5ta rent! InNoice No: DISTRIBUTION OF EXPENSE. Pay bN la 20 2-z TO CAL: APPROVED voucher.xls 44 DATE: 7/ V?(=o2Z. LCL = MMWTF�W,91�00-- NO - �1W,NS 0 I �J MrNME p TO CAL: APPROVED voucher.xls 44 DATE: 7/ V?(=o2Z. C u a � d F w I E d d c 1 6 � a v � n a I qC_ Ha yc d dl N d E n Elm E �I o a 3 $I « u• o � c n �a 0 d a O O a c m a u � _ c 0 0 L. p a H C E 0 g o a l7 n tmp nIN m O N N N m � N N N 6 N � u i � N Oml 00 d � 00 M 0 E m m Ai N N u m II U O U -�—o U d U N' J Q f d Q N, f N m O Monticello EDA MOVING COSTS " Important: Submit Promptly After Move " Occupancy (Days) ❑ Residence ❑ Ad. Device ❑ Government ❑ Other PP OS89 sino X Business ❑ Farm ❑ Non -Profit 0 Advance fe Partial 13 Final Pa ee s : Preferred Title, Inc. Submitted Amount $ 2.342.44 ConsultantApproval Penny Rolf WSS 7-18-22 Dist. _ S.P. Parcel o le Agency Approval: C.S. Prot ID AN�eleeim Wle Date Application Approved: Fed No. County. Wright Vendor No,: Acquisition: ❑ Pending s Accepted ❑ Em. Domain Attn. Finance: Parcel Owner: Mail Check To: (Name or caption) Monticello EDA Addressee(s): Preferred Title Inc. Parcel Addr.: 121 W. Broadway Mailing Addr.: 225 Cindy sHeatonBroadway City, State Zip: Monticello MN 55362 City, State Zip: Monticello MN 55362 RELOCATION CLAIM ELIGIBILITY LOCATION PERSONAL PROPERTY MOVED TO Displacee Facility Name Name(s): Preferred Title, Inc. and/or Type: Commercial Building Occupancy Date: 1-1-13 _ ❑ Owner I81 Tenant N12169 Mistyp 225 Eligibility Date: 11.23.21 Acquisition Date: 11/1021 West Broadway B (Notice Of Intent or Purchase Oaerl M delermMed, else •PanBng) -- City, State Zip: Monticello, MN 55362 Date(s) of the Move: Begin: 5-01-22 End. 5-14-22 Name of Mover(s): supervise - Professional Move FOR OFFICIAL USE ONLY Icheek ons) MOVING COST OPTION: Ej Residential Schedule Basis El Receipt's/Actual Cost X Non -Residential Bid/Estimate Residency Certification: Federal law requires certification of residency status. Please check the category or complete the section below that applies to you or your occupancy status in the United States. Your signature constitutes certification. I certify that I am: ❑ a citizen or national of the United States, or I further certify that there are persons in my household: (check one) ❑ an alien lawfully present in the United States, or that are citizens or nationals of the United States, ❑ an alien with personal property lawfully present in and are aliens lawfully present in the United States. the United States Sole Proprietorship: I certify that I am: ❑ a United States citizen ❑ an alien lawfully present in the United States ❑ a United States national ❑ a non -U.S. citizen not present in the United States Partnership: I certify that there are partners in the partnership and that are citizens of the United States, and/or _ are aliens lawfully present in the United States, and are non -U.S. citizens not present in the United States. Corporation: I certify that Preferred Title Inc is established by law and authorized to conduct business in the United States. Claimant Acknowledgement: I, the undersigned, do hereby certify that the above infomiation is true and correct and that documentation attached hereto accurately represents eligible expenses. I also certify that I have not previously submitted nor received payment for any expense submitted with this claim. OFFICIAL USE ONLY: (comments) Authorized Signature: - �9 Name (print): Telephone: 3ad0,9MI3t4g5 Date,_ 7�191aa I I Moving Costs v.2017108 Moving Costs Page 1 of 2 RL1032 RESIDENTIAL Moving Costs Instructions for submitting your claim The State will allow residential moving expenses to a displaced individual or family based on either a ROOM SC146DULE or reimbursement for ACTUAL COSTS incurred. As a displacee you will be asked to select the method most suitable to your needs. IMPORTANT: Consult and thoroughly discuss moving options and methods with a relocation advisor prior to moving. The State cannot reimburse you for any alteration which may constitute a home improvement. The Agency will not consider, pay or reimburse for overtime charges, except in emergency situations as determined beforehand by the State of Minnesota. Payments by Room Schedule Under this method, payment is computed on the number of rooms in your residence, exclusive of typical closets, porches, pantries, bathrooms, hallways, entrances or any unfurnished rooms. A basement may be considered one room unless it has been separated into livahir .,,..,.," each ". r,va..,. , •ecreatmn rooms. Outbuildinys used for storaee purposes ma% also be counted bt the room basis. The Occupant Provides Fumlture The Gecupant Does NotProvide Furniture Rooms 1 2 3 4 5 6 7 8 Additional Rooms Rooms 1 Additional Rooms Amount $575 725 925 1125 1325 1525 1725 1925 $275/Each Amount $450 $100/Each Payments by Receipt or Actual Cost Under this method, the State may allow reimbursement for reasonable and necessary (as determined by the agency) expenses incurred in moving your personal property for a distance not to exceed 50 miles. This is not an adjustment for inconveniences which have occurred or for time lost at your regular occupation. Moving expenses will be paid upon compliance with the following instructions. I. When you are moved by a professional moving company, pay the charges and obtain a detailed, itemized receipted bill marked "Paid in Full" and signed by a company representative. Please confirm eligibility with a Relocation Advisor prior to the move. 2. If your personal property is moved by someone other than a professional moving company, you must submit an itemized statement showing the number of people hired, the rates per (tour paid, dates, and the total hours worked for each individual and the equipment used. Please discuss this method with your Relocation Advisor prior to moving and incurring expenses. 3. You must complete the bottom portion of the front of this Claim Form in ink. Attach to the original of this form all required information pertaining to your move and mail to the Relocation Advisor shown on the lower left comer on the front of this form. 4. In the event you are financially unable to pay the moving company, special arrangements may be made with the Relocation Advisor to allow direct payment, or an advance payment claim. This must be done well in advance of the moving date. NON-RESIDENTIAL Moving Costs Instructions for submitting your claim Relocation regulations allow moving expenses to a displaced business, farm or non-profit organization based on actual costs incurred in moving personal property for a distance not to exceed 50 miles. However, regulations do not allow for inconveniences which may occur or for business time lost. Reimbursement for eligible moving expenses will be made upon compliance with the following instructions. IMPORTANT: Consult and thoroughly discuss moving options and methods with a relocation advisor prior to moving. I . When a commercial mover is employed, the moving costs are to be paid and a detailed receipted statement obtained. 2. In the event you wish your regular employees to make the move, it is required that you maintain a complete record of dates, time worked, and amounts paid to all persons physically participating in the move. Charges for use of equipment owned by the business may be allowed but shall be comparable to those rates charged by local rental agencies. 3. You may elect to accept the lower of two (2) estimates for moving all of your personal property. These cost estimates will be obtained by the agency and presented to you as an option. With this method, no other moving cost documentation is necessary. 4. You must complete the bottom portion of the front of this Claim Form in ink. Attach to the original of this form all required information pertaining to your move and mail to the Relocation Advisor shown on the lower left comer on the front of this form. The agency will not consider, pay or reimburse for overtime charges except in emergency situations, as determined by the agency. Payment may also be allowed to the owner of a displaced business or farm operator for actual reasonable expenses in searching for a replacement site, not to exceed 52,500.00. Such expenses may include transportation costs, actual time, and certain other expenses actually incurred in searching. A detailed certified statement of searching expenses must accompany the claim. I do hereby affirm that, to the best of my knowledge, displacee is eligible for reimbursement of eligible Moving Cost's, based on displacee's status and I affirm that, to the best of my knowledge, all personalty occupancy of the parcel at the time of the initiation of negotiations and/or at including all hazardous and environmentally the time of the parcels acquisition. I further affirm that displacee qualifies sensitive materials such as batteries, tires, paints, as a "displaced person", and is entitled to payment for actual, reasonable solve ticides, fertilizers, Fluorescent lights, and necessary moving and related expenses for a residential or non - etc. have been wi I be removed from the parcel. residential move (49 CFR Pt. 24), as Indicated elsewhere on this form. mal (lr>dy��r�Jthr7 71922 �IIiHnW l��I ��q�ZZ Displaces agnmme Date Relocaaon 10sor signature Date Moving Costs Page 2 of 2 AL1032 WASTE MANAGEMENT i Visit wm.Com To setupyour orine profile, sign up for paperless statements, maageyour account vewfaldaysdvedules, pay your hv0ice or schedule pickup O Customer Service: (888)960-0008 INVOICE Customer ID: Customer Name: Service Period: Invoice Date: Invoice Number: Your Payment is Due Aug 05, 2022 If fu Payment of the VAnced amount is not received Within your contractual terms, you may becharged a monthly Liteohage of 2.5% of the unpaid amount with mMrlimun monthly large of $5, a suds late large allowed under appliahle law, reg ulatien,a (!tract. Page 1 of 3 21-68886-83005 PREFERRED TITLE 07/01/22-07/31/22 07/06/2022 7666696-1593-8 $415.65 If payment is received after 08/05/2022: $ 426.04 MIAMI 60.29 L (60.29) 0.00 415.65 415.65 ------ - -- -- L --- -.65 -I Details for Service Location: Customer ID: 21-68886-83005 Preferred Title, 113 Broadway St, Monticello MN 55362 Description Removal 2FL Ticket Total Fuel / Environmental Charge Date Total Current Charges -------------------------------- Please detach and send the lowerportion with payment --- W s. Amount 215.00 127.91 12.34 60.40 415.65 or steples).............................. wssra rwnxaoea.exr 07/06/2022 7666696-1593-8 21-68886-83005 I WASTE MANAGEMENT OF MINNESOTA, INC. Payment Terms Total Due Amount PO BOX 47390 PHOENIX, Az 85080 � Total Due by 08/05/2022 $415.65 (808)960-0006 If Received after 08/05/2022 $426.04 WMESERVICE@WM COM ••• DO NOT PAY -AUTOMATIC PAYMENT WILL BE PROCESSED Your credit card will be charged $415.65. 1593000216888683005076616960000004156500000041565 1 10SOOC67 PREFERRED TITLEPO X 727 Remit To: WM CORPORATE SERVICES, INC. MONTICELLO MN 55362 AS PAYMENT AGENT PO BOX 4648 CAROL STREAM, It 60197-4648 C THINK GREEN! „I®o r.r.r.1sA nnn,- DEM -CON Dem -Con Dumpsters 13020 Dem -Con Drive Shakopee, MN, 55379 Phone: 763-780-0404 Invoice Preferred Title 113 West Broadway Street Monticello, MN, 55362 113 West Broadway Street, Monticello, MN, 55362 Ref # Date Service Invoice •Number. 6463 Invoice Date: 5/31/2022 Payment Terms: C.O.D. Due Date Due On Receipt Customer ID: 3877 Page 1 Rate Qtv Amount T V y citareuee iuya rinal MsW 300.00 1.00 300.00 647.75 1256356 MN (Comm) MSW SWM Tax 86.850 1.00 86.85 Disposal Fee 95-000 2.22 210.90 Electronic/TV 50.000 1.00 50.00 PAYMENTS Date Form of Payment 5/18/2022 613/2022 Visa 2732 Visa 2732 Please Remit Payment To: 13020 DemCon Drive Shakopee, MN 55379 Total $647.75 Total 462.15 185.60 Total All Payments. $0.00 Invoice Total: $647.75 Payments: $647.75 Balance: $0.00 M co cl1 T r co N i 0 Z m O 0! N N�— V N e d m f O F ano a� aO�o� ' $ 64 W IQ N � N N m � U Q L gh G @y � W mS QQ: d • as W mQ 3 ¢ a � w n N c c_ W m M M ° W > ¢O E E yJaj� ~ Z Z W � cn O O G z O Z IOU U � I W p m m cn J SN D W W 3 5 W Z o y z O Q Ove lL Z c O O _ CL W N F V N NX M W O Z Z Q O 0 0 LLI CL CL 7 SS V) � o W I�W- CL ��W Ip z g g p pO OW 2u- o¢$;o 7 W a a m s d co N 61 C 0.2 O ° v i N0 Y N A .0D N N } 0- H w W W O C M O U`N W OI L O m y O m ?avroi¢ N > O M Fg � aE W W C °Q r2 Oa 0 WE w� L �o W ,� a t C :DM co 0 Wo 0cl �- V1�w W Z «r G Z o –� ¢ �d cc C 2w p cc cn Lu Oa F LUNzLu cn ao�a°o z w iii fn V 10 7 0 T� = C ` r N 1_ to 4a • 1104 0! N N�— V N e d m f O F ano a� aO�o� ' $ 64 W IQ N � N N m � U Q L gh G @y � W mS QQ: d • as W mQ 3 ¢ a � w n N c c_ W m M M ° W > ¢O E E yJaj� ~ Z Z W � cn O O G z O Z IOU U � I W p m m cn J SN D W W 3 5 W Z o y z O Q Ove lL Z c O O _ CL W N F V N NX M W O Z Z Q O 0 0 LLI CL CL 7 SS V) � o W I�W- CL ��W Ip z g g p pO OW 2u- o¢$;o 7 7/13/22, 8:07 AM Check Details Item 170 of 1815 Check Number Date Posted Check Amount Account Detail • Wells Fargo 5hh9Afu1l Image' Print 23453 03/30/22 $1,279.04 r•r 19 q• 99•n wI ROAR DEPOT SAIL OIE MAIM TWO "9411 K9GnFM W 1. l ,, ABF 991049919 A4999nt 4231142821 Previous JB Zoom Next > is I J OLLARS For your security, information like account numbers, signatures, and the ability to view the backs of checks have been removed from the images. You can see full or partial fronts and backs of the Images by using the link at the top of the window. Q Equal Housing Lender https://connect.secure.wellsfargo.c mlaccounts/start?pl=yes$SAMLan=AAQCO°/2BoEQCR14WDgSxeU4QNGCHpGcoS1 S9z80tQvEoDxFN98Kdo... 1/1 Maw I cn1r91 39. 19aou9999aeeu9a9ua 87[WCZOF97SJZN 111i1111i111qYJ6tlJYp1111i1 r•r 19 q• 99•n wI ROAR DEPOT SAIL OIE MAIM TWO "9411 K9GnFM W 1. l ,, ABF 991049919 A4999nt 4231142821 Previous JB Zoom Next > is I J OLLARS For your security, information like account numbers, signatures, and the ability to view the backs of checks have been removed from the images. You can see full or partial fronts and backs of the Images by using the link at the top of the window. Q Equal Housing Lender https://connect.secure.wellsfargo.c mlaccounts/start?pl=yes$SAMLan=AAQCO°/2BoEQCR14WDgSxeU4QNGCHpGcoS1 S9z80tQvEoDxFN98Kdo... 1/1 CITY OF MONTICELLO VOUCHER Please complete, sign, and submit to Iccts Payable by due date for check run. ® Disb. Ck. Batch VENDOR: Name 7 n P �eA�-Ors Address 1 2-7,50LJ,t- g ra.dW0.-A Address 2 06 IS I /Zip M 04" 0-e—1 ( O m 3zs'tatemenV Invoice No DISTRIBUTION OF EXPENSE Pa> by: ZZ Acct. No. Amount Description Project Code rfl c c 5 Z Mae I - zsoo G, Rol* or -4 / � f mow. a -s c.os • S .o S sr. Yeeu TOTAL: _ $ 33. (,65;. rob APPROVED voucher.xls ,u DATE: 719?/Zo 2.Z 7/18/22 Monticello Downtown Redevelopment Project Displacee: Preferred Title A B C D E F G H I 1 1 Self- Contractor Business Re -Establishment Claim Claim Category Claim Description Submitted Eligible Not Recommended Documentation Comments 2 Displacee 1 24.304(a)(2) Modifications $3,301.00 $3,301.00 Invoices Replacement door - $826 and Cabinet -$2475 3 35.304(a)(3) Signage Increased rent $2,364.66 $33,000.00 $2,364.66 $33,000.00 Invoices_ Sign Rent at old site - $1500 Difference of $1375 x 24 months $33,000.00 4 35.304(a)(6) Leases S TOTAL I $38,66S.661 $39,665.661 $0.00 6 7 8 9 Business Re-establishment Maximum Amount $50,000.00 10 Claim 911. $38,665.66 i 11 12 13 14 Balance Remaining $11,334.341 Monticello Economic Development Authority 2017/08 REESTABLISHMENT "Important: See Over for Definitions / Acknowledgement(s) " IDaysl IM Business ClNon-Profit ❑589 0290 ❑ Farm ❑ Government ❑Advance %Partial ❑Final IFLOccupancy Payees : Preferred Title Submitted Amount $ 38 665.66 __ District Approval: Penny Rolf, WSB 7-18-22 D. Dist. _ S.P. Parcel Agency Approval: xw,e�mgn mea C.S. Proj ID Date Application Approved: Fed No. County Wright Vendor No.: Acquisition: ❑ Pending *Accepted ❑ Em. Domain An• Finance: Parcel Owner: Mail check To; (Name or Carillon) KC & the Boys Addressee(s): Preferred Title Parcel Addr.: 113 West BroadwayMailing Addr,: % Cindy Heaton 225 West Broadway City, State Zip: Monticello, MN 55362 CRY. State Zip: Monticello MN 55362 RELOCATION CLAIM ELIGIBIi_ITY LOCATION OFR PLACEMENT SITE Displacee Facility Name Name(s): Preferred T-ttie, Inc. and/or Type: Commercial building Occupancy Date: 1-1.13 ❑ Owner ® Tenant Street Address: 225 West Broadway Eligibility Dale: 11-23-21 Acquisition Date: 11-10-21 (Nonce Or intent or Purdlase Daer) (d delermkted. also Vendlne7 City, State Zip: Monticello, MN 55362 1. Repairs or improvements to the replacement real property required by law, code, or ordinance ...............................$ 2. Modifications to the replacement property to accommodate the business operation ..................................................E 3,301.00 3. Construction and installation of Exterior Signing to advertise the business................................................................$ 2,364.88 4. Redecaralion or replacement costs of soiled or worn surfaces at the replacement site .............................................$ 5. Advertisement of the replacement location................................................................................................................$ 6. Estimated increased costs of operation during first 2 yrs ........................................ (leases, taxes, insurance, etc.) $ 33,000.00 _ 7. Other gem costs essential, reasonable and necessary to reestablish ................(confine eligibility with the Agency) f TOTALTHIS CLAIM............................................................................................................(maximum $ 50,000.00) f 38,665.66 Total Reestablishment Claims Paid -To -Date (including this claim) :...... <$ 38.665.66> Eligible remaining Reestablishment expenses claimable: ........................ $ 11,334.34 Residency Certification: Federal law requires certification of residency status, please check Rhe category or complete the section below that applies to your occupancy status in the United States (see over for definitions). Your signature constitutes certification. Sole Proprietorship: I certify that I am: ❑ a United States citizen ❑ an alien lawfully present in the United States ❑ a United States national ❑ a non -U.S. citizen not present in the United States Partnership: I certify that there are partners in the partnership and that are citizens of the United States, andior are aliens lawfully present in the United Stales, and are non -U.S. citizens not present in the United States. Corooratil 1 certify that Preferred Title. Inc. is established by law and authorized to conduct business in the United States. Claimant Acknowledgement: 1, the undersigned, do hereby certify that the above information is true and correct and that documentation attached hereto accurately represents eligible expenses. I also certify that I have not previously submitted nor received payment for any expense submitted with this claim. OFFICIAL USE ONLY: (CommeMs)Authoratur A � Signature: (Ay-,d� Name (print):—�d 4M�6' �I Telephone: r-&aDaS604q 2) Date: 7 /I011 as 1 See Over for Definitions / Acknowledgement(s) Reestablishment Costs Claim Page I of 2 RL1033 Re-establishment Costs Claim INELIGIBLE REESTABLISHMENT EXPENSES v.2017l08 The following is a nonexclusive listing of reestablishment expenditures not considered to be reasonable, necessary, or otherwise eligible: 1. Purchase of capital assets, such as, office furniture, filing cabinets, machinery, or trade fixtures. 2. Purchase of manufacturing materials, production supplies, product inventory or other items used In the normal course of the business operation. 3. Interest on money borrowed to make the move or purchase the replacement property. 4. Payments to a part-time business in the home which does not "Contribute Materialiv" to the household income. Contribute Materially: The term "contribute materially" means that during the 2 taxable years prior to the taxable year In which displacement occurs, or during such other period as the Agency determines to be more equitable, a business or farm operation: 1. Had average annual gross receipts of at least $5,000; or 2. Had average annual net earnings of at least $1,000; or 3. Contributed at least 33% %of the owners or operators average annual gross Income from all sources. 4. If the application of the above criteria creates an Inequity or hardship in any given use, the Agency may approve the use of other appropriate criteria. Citizenship! Immigration Terms Defined 49 CFR 242(a)(2) Allen not IuwJuffy Present in the United Steam The phrase "alien not lawfully present in the United States" means an alien who is not "lawfully present' in the U.S. as defined in 8 CFR 103.12 and Includes: (i) An alien present in the U.S. who has not been admitted or paroled Into the U5. pursuant to the Immigration and Nationality Act (a U.S.C. 1101 et seq. 1 and whose stay in the U.S. has not been authorized by the United States Attorney General; and, (Ill An alien who Is present in the U.S. after the expiratlon of the period of stay authorized by the United States Attorney General or who otherwise violates the terms and conditions of admission, parole or authorization to stay in the U.S. • Aliens: Aliens are people who have left (emigrated) a foreign country to the United States. They have some of the same freedoms and legal rights as U.S. citizens, but they cannot vote in elections. • Resident Aliens: A foreigner who Is a permanent resident of the country in which he or she resides but does not have citizenship. To fall under this classification in the U.S., you need to either currently have a green card or have had one in the last calendar year. You also fall under the U.S. classification of resident alien if you have been in the U.S. for 31 days or more during the current year along with having been in the U.S. for at least 183 days over a three-year period that Includes the current year. • Non -Resident Aliens: Anon -U.S. citizen' who doesn't pass the green card test or the substantial presence test. If a non -citizen currently has a green card or has had a green card in the past calendar year, he or she would pass the green card test and would be classified as a resident alien. If the individual has resided in the U.S. for 31 days or more In the current year and resided in the U.S. for more than 183 days over a three-year period, including the current year, he or she would pass the substantial presence test and be classified as a resident alien. • Nationals: American Nationals arc natives of American territorial possessions. They have all the legal protections which citizens have, but they do not have the full political rights of US citizens. According to 8 U.S.C. §1408 it is possible to be a U.S. national without being a U.S. citizen. A person whose only connection to the U.S. is through birth In an outlying possession (of 2005 Is limited to American Samoa and Swains Island), or through descent from a person so born acquires U.S. Nationality but not U.S. Citizenship, This was formerly the use in other U.S. possessions: • Guam (1898 -1950) (Citizenship granted by an Act of Congress) • Puerto Rim (1898 -1917) (Citizenship granted by an Act of Congress) ' U.S. Virgin Islands (1917 -1927) (Citizenship granted by an Act of Congress) Nationals who are not citizens cannot vote or hold elected office. However, they may reside and work in the United States without restrictions and apply for citizenship under the same rules as other resident aliens. Not all U.S. nationals are U.S. citizens; however, all U.S, citizens are U.S. nationals. Indeed, U.S. passports normally make no distinction between the two, mentioning only the bearer's nationality, not his/her citizenship. • Citizens: Persons born in the U.S. or to U.S. citizens In foreign countries are citizens of the United States. Persons born in other countries who want to become citizens must apply for and pass a citizenship test. Those who become citizens in this manner are naturalized citizens. • Natural Born Citizens; A "natural born citizen" is a person born in the territory of the U.S. or to United States of America citizen parents. ' Naturalized Citizens: A "naturalized citizen" Is someone who was not born on U.S. solk they were not a citizen of the country when they were horn, but have gone through the process of becoming a citizen. I do hereby affirm that, to the best of my knowledge, the displacee is eligible for qualified Reestablishment reimbursements, based on displacee's occupancy of the parcel as a place of economic activity at the time of the initiation of negotiations and/or at the time of the parcels acquisition. I further affirm that the displaces qualifies (49 CFR Pt. 24) as a "displaced person", is a small business, farm or non-profit organization, and is therefore entitled to receive Reestablishment payment(s), not to exceed $50,000 (M.S. §117.51), for eligible expenses actually incurred in relocating and reestablishing such small business, farm or non-profit organization at a replacement site. Signed: __ 7 -19 -tom Date Re-establishment Costs Claim Page 2 of 2 RL1033 Cindy Heaton From: Tony Larson <tlarson@foster-white.com> Sent: Monday, May 9, 2022 9:34 PM To: Cindy Heaton Cc: Jake Olinger; JOTL Properties Subject: Barn Door Hey Cindy, The final cost for the barn door add was $826,00. As we discussed prior to the project, you were going to pay for that portion since it was above and beyond the normal build out. Can you cut us a check for this? Thank you, Tony Larson, CIC Chief Operating Officer UC# 20545235 OFFICE (763) 295-2614 DIRECT (763) 271-6163 FAX (763) 2953010 tlarson ilifoster-white corn E] FOSTER WHITE INSURANCE AGENCY 114 West Yd Street Monticetio, MN 55362 Foster-White.com DISCAIMER: Please be aware that Insurance coverage cannot be bound, altered, or cancelled over the phone. by voicemail, or by a -mail without confirmation from a licensed insurance representative. This e-mail and any files transmitted with it ore the Property of the Foster White Agency. ore confidential. and are intended solely for the use of the individual or entity to whom this e-mail is addressed. If you are not one of the named recipients or otherwise have reason to believe that you have received this message in error, please delete this message immediately from your computer and notlfy the sender immediately Any other use, retention, dissemination, Jarwaidmg, printing, or copying of this e-mail is strictly prohibited Addressees are advised to scan this email and any ottachments for viruses. No representation or warranty is made as to the obtetue of viruses in this a -mad or any ottachments 5119122. 11:03 AM Check Details Item 9 of 1882 Check Number Date Posted Check Amount Account Detail - Wells Fargo Show partial image' A Print 23500 05/13/22 $826,00 PRl llmn-y wwwMwi�.nw a. dend°l sea 23600 .uarmce.ww.v sr�r m.rucda-AQ iztAa. an bSiita—_��- �� - S 21fo•4p Previous 6.� Flip A Zoom Next For your security, information like account numbers, signatures, and the ability to view the backs of checks have been removed from the images. You can see full or partial fronts and backs of the images by using the link at the top of the window. ® Equal Housing Lender https:ilconnect.secure.welisfargo.wmIacmunWstart?pl =yes&SAMLart=AAQBTuoEQCR14 WDgSxaU4QNGCHpGwS1 WS2QY%2BvCyFXYLwH[Dp... 1/1 Maselter Cabinets 149 Broadway St E PO Box 71 Rockville, MN 56369 Preferred Title Arm: Cindy Heaton 225 west Broadway Monticello, MIN 55362 L shaped Oak Base Cabine, Description PREFERRED TITLE 113 WEST BROADWAY MONTICELLO, MN 55362 PH. 763-295-6140 Invoice Date Invoice # 4/15/2022 27229 P.O. No. Due Upon Receipt Project Amount 2,475.00 Welts Fargo badnk, NA. SL Cbu St. Cbt4 MN 56301 17-1/910 / nix S<_13 -;?A 23510 1111102351011' i:091000019t:42717428210' v - - -- --. Thank you for your business. Sates Tax (7.625%) $0.00 Phone# Fax# Email Total Due $2,475.00 32a251•2232 azo -2s1-2759 maseltereabinets@yahw.com Payments/Credits $0.00 Balance Due $2,475.00 BOX 881 ST. CLOUD MN 56302 (320) 252-9400 BILL TO: PREFERRED TITLE 225 W BROADWAY MONTICELLO MN 55362 ORDERED BY CINDY -QTY PO NUMBER SALESPERSON I` DARYLK DESCRIPTION Invoice #: Invoice Date: Customer #: Page: Project #: JOB LOCATION: PREFERRED TITLE 225 W BROADWAY MONTICELLO MN 55362 ORDERED BY CINDY SHIP VIA ORDER DATE 03/09/22 QUOTE #'31883 FABRICATE/ INSTALL 1'(PREFERRED TITLE) 13MM WHITE SINTRA LETTERS STUD MOUNTED. REMOVE EXISTING NON -LIT SIGN. (MONTICELLO-DL V1) • QUOTE #31886 FABRICATE/ INSTALL ONE(1) 11"X 19" WHITE DOOR VINYL, DUE TO COLD WEATHER SEASON VINYL WOULD NEED TO BE APPLIED WHEN WEATHER WARMER. • QUOTE #31980 FABRICATE/ INSTALL ONE(1) 1 VX 19" WHITE DOOR VINYL. DUE TO COLD WEATHER SEASON VINYL WOULD NEED TO BE APPLIED WHEN WEATHER WARMER. �-@HOTL'#S2II16 Item #PERMIT PERMIT 'INDICATES TAXABLE ITEMS INVOICE 48866 04/26/22 5490 1of1 PAYMENT TERMS DUE DATE NET 30 DAYS 05/26/22 I' UNIT PRICE TOTAL PRICE 0 1,585.00 1,585.00 PERMIT PROCUREMENT I MN STATE SALES TAX 6.8750% 250.00 250.00 250.00 250.00 =,9Tov 70.00 1 70.00 SUB TOTAL LESS PRE -PAYMENTS: PLEASE PAY THIS AMOUNT: ----------- ------ 3,150.00 100.00 109.66 7/13/22, 8:05 AM Account Detail - Wells Fargo Check Details Item 26 of 1815 Show full imagr* Check Number Date Posted Check Amount $ Print 23564 06/23/22 $2,364.66 �PflFiEflflEO TrfL6 113WWBnu Ay Rcxa6wrwr Wuoo< imrr "*^*w 1111111 IIIIIIIIIIIIIIIIIIIIIII II wn.. S'NO-}�oLli'�r+�i f Ste_ � db21G�� a � Illilllllllllllllllllllllll(�IIIIIilllllllllllllllllllllll � IIIIiII Previous J9 Zoom Next * For your security, information like account numbers, signatures, and the ability to view the backs of checks have been removed from the Images. You can see full or partial fronts and backs of the images by using the link at the top of the window. 9 Equal Housing Lender https:ilconnect.secure.wellsfargo.mnVacmunts/start?pl=yas&SAMLart=AAOCO%2BOEOCRi 4WDgSxatl4QNGCHpGooSl SgzBOtQvEoDxFN98Kdo... 1/1 LEASE AGREEMENT THIS LEASE, made this 1 st day of January, 2013 by and between KC & The Boys, LLC (hereinafter called Landlord") and Preferred Title, Inc. (hereinafter called "Tenant"). WITNESSETH In consideration of the covenants, conditions and promises hereby mutually taken to be kept and performed by the parties, Landlord hereby demises and leases unto Tenant and Tenant hereby hires and takes from Landlord the following premises (hereinafter noted as "Leased Space") situated in Wright County in the State of Minnesota, described as follows: Suite "A" in 113 West Broadway Street, Monticello, MN, consisting of approximately 3000 square feet of rentable space and full basement. Terms The term of this lease (hereinafter called "Lease Term") shall extend for 15 years commencing on January 1, 2013 and terminating December 31, 2027. Security Deposit Tenant shall be required to provide $0.00 security deposit. Gross Monthly Rent Tenant shall pay to Landlord at such place or to such other person as Landlord may designate, without prior demand and without any deduction or set off whatsoever, a monthly rent set forth as follows: $1500.00 per month Rent Pavment The monthly rent shall be paid on or before the first (1st) day of each month during the lease term to: KC & The Boys, LLC c/o Cindy Heaton 21082 Franklin Road Clearwater MN 55320, or at such other place or places and to such other party or parties as Landlord may hereafter designate. Operating Cost Landlord shall be responsible for the following operating cost relating to the operation of the space including, but not limited to: Real estate taxes, building insurance, exterior building repairs and general parking lot maintenance, including snow removal costs associated with the building parking area. Landlord shall prorate the cost of normal electrical, gas, refuse disposal among the tenants in the building and invoice Tenant's portion based on prorate square feet occupied. In addition, Tenant shall be responsible during the time of tenancy for own interne, television, and telephone services and charges, including installation. Further. Tenant shall be responsible for his own cleaning and refuse within demised space and shall utilize central disposal dumpster (or other provided suitable container) on premises for general office materials refuse disposal only. Limitations on Use. Tenant shall use the Premises for full-service title and abstract services and for no other use without Landlord's consent. Building Access Tenant shall have 24/7 access to the demised space. Holdover If Tenant shall fail to vacate the lease space upon expiration or sooner termination of this lease, Tenant shall be on a month-to-month holdover, and Tenant must give Landlord and Landlord must give Tenant a 30 -day written notice to terminate this holdover. This written notice shall be given on or before the first day of the preceding month. The monthly rent to be paid Landlord by Tenant during this continued occupancy will be 1-1/4 times (125%) the monthly rent as set forth in paragraph 4. Maintenance Tenant shall maintain the Leased Space in a neat and clean condition at all times during the term hereof. Indemnification Landlord shall not be responsible to Tenant or to Tenant's agents, servants, employees, customers, or invitees for any damage to person or property caused by any act, omission or neglect of Tenant, and Tenant agrees to hold Landlord harmless from all claims for such damage. Tenant shall not be liable to Landlord, or to Landlords agents, servants, employees, customers, or invitees for any damage or neglect of Landlord, and Landlord agrees to hold Tenant harmless for all claims for such damages. Condemnation If the Lease Space shall be taken or condemned for any public purpose to such extent as to render the Leased Space untenantable, the Lease shall, at the option of either party, forthwith cease and terminate, All proceeds from any taking or condemnation of the Leased Premises shall belong to and be paid to Landlord. Destruction of Leased Premises In the event of destruction or damage to the Leased Space, Tenant shall be entitled to a proportionate abatement of the Rent corresponding to the time during which and the extent to which the Leases Space is rendered untenantable for Tenant's use and occupancy, in its normal manner of operation. Subletting Tenant shall have the right to assign this Lease and sublet the Leased Space or any portion hereof with the prior written approval of Landlord which shall not be unreasonably withheld. Surrender Whenever the term herein demised shall be terminated, whether by lapse of time, forfeiture, or in any other way, Tenant covenants and agrees that it will at once surrender and deliver the Leases Premises to Landlord in as good condition as was when Tenant took possession, ordinary wear and tear accepted. Default By Tenant If default shall be made in the payment of any sum to be paid by Tenant under this lease and default shall continue for ten (10) days or if default should be made in the performance of any other covenants or conditions in which Tenant is required to observe and perform hereunder and such default shall continue for twenty (20) days, Landlord may (i) terminate this Lease and forthwith repossess the Leases Premises and remove all property there from and be entitled to recover damages or seek equitable relief in accordance with the laws of the State of Minnesota; or (ii) Landlord may temtinate Tenant's right of possession (but not the Lease) and may repossess the Leased Premises without demand or notice of any kind to Tenant and without terminating this Lease in which event Landlord may, but shall be under no obligation to, relet the same for the account of Tenant for such rent and upon such terms shall be satisfactory to Landlord, and Tenant shall remain liable for rents payable under the Lease; provided, however, that any rents received from a reletting of the Leases Premises by Landlord shall be credited to the account of Tenant after deduction for costs of recovering possession and all costs and expenses sustained by Landlord in reletting the Leased Space. Insurance Landlord shall not be liable for any damage to property or any injury to person, sustained by Tenant or others, caused by conditions or activities on the demised premises, unless such damage or injury is caused by the acts or omissions of the Landlord, it's agents, or employees. Tenant shall indemnify Landlord against all claims arising there from and shall carry liability insurance insuring Tenant as "Insured" and Landlord as "Additional Insured" with limits of liability of not less than $1,000,000 for injury (including personal injury endorsement) or death to one or more persons, and $1,000,000 with respect to property damage to others. Tenant shall furnish Landlord with certificates evidencing that such insurance is in effect stating that the Landlord shall be notified in writing thirty (30) days prior to cancellation, material change, or non -renewal ofinsurance. Landlord shall maintain insurance covering the entire Building property against loss resulting from any peril insurable under a Minnesota standard fire insurance policy. Alterations by Tenant Any improvements contemplated by Tenant require prior approval of Landlord. T@nant accepts the building "as is" upon occupancy and after tenant improvements are completed. Landlord hereby authorizes tenant to make minor repairs to repair walls and hang pictures. Lien Tenant shall keep the space, the building in which the space is situated, and the land upon which the building is situated free from any liens. Entire Agreement This lease is the entire agreement of the parties. Severabilih In the event that any provisions of this Lease shall be held invalid or unenforceable, no other provisions of this Lease shall be affected by such holding, and all of the remaining provision of this Lease shall continue in full force and effect pursuant to the terms hereof. Delav in Possession. If the Demised Premises shall on the scheduled date of commencement of the Lease Term not be ready for occupancy by the Tenant due to the possession or occupancy thereof by a previous tenant, or because any repair, construction process or remodeling to be done by Lessor has not yet been completed, Lessor shalt use due diligence to complete such work and to deliver possession of the Demised Premises to Tenant. The Lessor, using such due diligence, shall not in any way be liable for failure to obtain possession of the Demised Premises for Tenant or to timely complete such repair or remodeling, but the rental and other charges payable by Tenant hereunder shall be abated until the Demised Premises shall, on Lessor's part, be ready for the occupancy of Tenant, this Lease remaining in all other respects in full force and effect and the lease Term not hereby extended. Miscellaneous. A. Time of Essence. Time is of the essence of each provision of this lease. 13. Parking. Tenant acknowledges and agrees that Landlord shall provide Tenant with 3 parking spaces in the rear of building. C. Minnesota Law. This lease shall be construed and interpreted in accordance with the laws of the State of Minnesota. IN WITNESS WHEREOF, the parties hereto have executed this agreement: LANDLORD: KC & The Boys, LLC By: Cindy Heaton ilifaot- TENANT: Preferred Title, Inc. By: 6y,�'ra- 4 Cindy Heaton t I 11;0) 13 LEASE AGREEMENT This Lease Agreement (this "Lease") is made and entered into as of the 29th day of November, 2021 between JOTL Properties, LLC, or its successors and/or assigns, hereafter referred to as "Landlord" and Preferred Title, Inc., hereinafter referred to as "Tenant". Landlord and Tenant are sometimes referred to together as the "parties" or individually as a "party". In consideration of the terns, covenants and conditions herein contained Landlord and Tenant covenant and agree as follows: 1. Premises. Landlord leases to Tenant, and Tenant leases from Landlord, certain premises, described as follows: the commercial office space located at 225 West Broadway, Monticello, Minnesota 55362, which includes the entire building and surrounding land and parking areas (the "Leased Premises"). 2. Rent, Term. The term of this Lease shall be for a period of five (5) years ("Term"), with a Commencement Date of the earlier of March 1, 2022 or the date that Tenant opens for business (the "Commencement Date"). Tenant shall pay Landlord as and for rent the sum of Two Thousand Eight Hundred Seventy Five and No/100 ($2,875.00) Dollars ("Base Rent"), per month, payable in advance, commencing on the Commencement Date. The monthly installments of Base Rent shall be binding for the first year of the Term, and then increase by an additional two percent (2%) each year thereafter. The parties hereby acknowledge that Base Rent shall include: all reasonable and necessary expenditures incurred by Landlord in operating, maintaining, improving, lighting, and securing the common areas of the Leased Premises, including, without limiting real estate taxes, the cost in the common areas for all utilities, cleaning, snow removal, interior and exterior painting, repair or replacement of paving, curbs, sidewalks, signs (except for Tenant's signage which shall be Tenant's sole responsibility), landscaping, drainage, and roof related expenses. Upon the execution of this Lease by Tenant and Landlord, Tenant shall provide to Landlord a security deposit in the amount of Two Thousand Eight Hundred Seventy Five and No/100 ($2,875.00) Dollars to secure Tenant's obligations hereunder, which will be held by Landlord as damage and security deposit and refundable to Tenant or its assigns permitted in paragraph three (3), thirty (30) days after Tenant vacates the Leased Premises, less any cost of repairs or unpaid amounts due under this Lease. In the event that Tenant terminates this Lease or is in default and Landlord retakes possession of the Leased Premises prior to the expiration of the Term, Tenant shall nevertheless be obligated to pay Landlord all other sums afforded by law or provided in this Lease. 3. Assignment and Subletting. Tenant shall not assign this Lease in whole or in part, or sublet all or any part of the Leased Premises, without obtaining the written consent of the Landlord, which written consent shall not be unreasonably withheld. Landlord may assign this Lease, in its sole discretion, without any affect to its validity or enforceability. 4. Use of Premises by Tenant Tenant shall use the Leased Premises for general office use and as a full-service title, abstract and escrow service, and all related uses related thereto. 5. Maintenance and Cost of Maintenance of Common Area Landlord shall maintain and repair all common areas, if any, which Tenant is entitled to utilize including, but not limited to parking areas, driveways, sidewalks and landscaped areas. All costs incurred by Landlord shall be included in the Base Rent. 6. Fixtures and Alterations. Tenant shall not make or cause to be made any alterations, additions or improvements or install or cause to be installed any trade fixtures, exterior signs, floor covering, interior or exterior lighting, plumbing fixtures, shades or awnings or make any changes to the Leased Premises without first obtaining Landlord's written approval and consent, which consent Landlord shall not unreasonably withheld, conditioned or delayed. Tenant shall present to Landlord plans and specifications for such work at the time approval is sought. Alterations made by Tenant shall become the property of Landlord at the expiration of the Term of this Lease or any extensions thereof unless Landlord has specifically agreed, in writing, that Tenant may remove any such alterations. 7. Maintenance of Leased Premises Tenant shall at all times maintain the interior of the Leased Premises in good condition and repair at Tenant's sole cost and expense. Notwithstanding the foregoing, Landlord shall be solely responsible for repair and maintenance of the roof, building exterior, heating and air conditioning and all plumbing and electrical needs for the Leased Premises. Under no circumstances will Tenant be required to replace any existing roof, heating and air conditioning units, plumbing or electrical systems and applicable appendages for the Leased Premises, except in the event of the gross negligence or willful misconduct of Tenant or Tenant's employees, agents or contractors. In the event of gross negligence, Tenant's responsibly will be limited to replacement with material of like kind, quality and useable life. 8. insurance. Tenant will insure its contents and leasehold improvements at all times with "All - Risk" coverage for the full replacement value thereof. Tenant will also maintain liability insurance to protect Tenant in an amount of $1,000,000.00 or more for each occurrence for injuries or damage to property or person occurring at the Leased Premises or around the Leased Premises. Said coverage is not included in Tenant's Base Rent and Tenant shall maintain its own insurance policies required herein. Landlord will insure the Leased Premises at all times for fire, extended coverage and additional perils, commonly referred to as "All -Risk" coverage, in an amount equal to the full value of the Leased Premises, as determined by the Landlord; provided, however, that Tenant shall be liable for any damages caused to the Leased Premises by Tenant or Tenant's agents, employees, representatives or contractors. 9. Waiver of Subrogation Landlord and Tenant hereby release each other from and waive any claims against each other respecting any property damage to the Leased Premises, and all personal property located therein to the extent such property damage is required to be insured under the terms of this Lease and regardless of the cause of such property damage including negligence. All policies of insurance pertaining to the Leased Premises and its contents shall be endorsed to provide that the insurance company may not be subrogated with respect to insurance carried by Tenant against Landlord, it being agreed that neither Tenant nor Tenant's insurance company or companies shall have any right of action against Landlord for any loss or damage to Tenant's property in or about the Leased Premises which loss or damage is in fact covered by insurance carried by Tenant, and that neither Landlord nor Landlord's insurance company or companies shall have any right of recovery against Tenant for any loss or damage to the Leased Premises, or to Landlord's property in or upon the Leased Premises, which loss or damage is in fact covered by insurance carried by the Landlord. 10. Mutual Release of Liability. Neither party shall be liable to the other for damage arising out of the occurrence of damage to or destruction of the Leased Premises, the damage or destruction of the contents thereof by fire or other casualty, or personal injuries, which loss is covered by any insurance policy of either party, and except in the case of a willful act or gross negligence, each party does hereby waive all claims against the other for any such damages, whether or not such damage or destruction be the result of negligence on the part of either party, its agents, servants or employees. 11. Utilities. Tenant shall timely pay for all heating, air conditioning, electricity, gas, water and sewer charges (including any connection fees associated with Tenant's initial improvements), telecommunication charges (e.g. telephone, Internet, data, fax), waste disposal and janitorial for the Leased Premises, service contracts and other utility -related expenses used in the Leased Premises throughout the Term. 12. License_ and Certificate of Occupancy Tenant agrees to provide to Landlord a copy of Tenant's state issued license to perform the services allowed pursuant to Section 4 herein, if said services are regulated by the State of Minnesota. Tenant shall provide Landlord a Certificate of Occupancy for the Leased Premises upon completion of Tenant's initial improvements. Tenant agrees that it will not operate until the required documentation set forth in this section is provided. 13. Substantial Damage and Total Destruction of Property If there shall be total destruction of the Leased Premises by fire or otherwise, this Lease shall terminate at the option of Landlord, and if Landlord shall so exercise its right to terminate, Landlord shall be liable for reimbursement to Tenant for any rent paid in advance but not yet accrued as of the date of said destruction. If the Leased Premises are caused to be untenable by acts or omissions of the Landlord, the Tenant may terminate this Lease with ten days prior written notice to Landlord. In the event that the Leased Premises is damaged to the point where Tenant is prevented from using more than 25% of the Leased Premises, and the damaged area cannot be repaired within ninety (90) days from the date of loss, then Tenant may terminate this Lease, with no further obligations, by giving Landlord written notice. 14. Condemnation. If the Leased Premises or any part thereof are taken or condemned for a public or quasi -public use, this Lease shall, as to the part so taken, terminate as of the date title shall vest in the condemner, and the rent shall be adjusted accordingly as to the part so taken, or shall cease if the entire Leased Premises be so taken. In no event shall any part of any condemnation award belong to the Tenant, but the same shall be the sole, absolute and exclusive property of the Landlord. 15. Default of the Tenant. In the event of any failure by Tenant to pay any rental due hereunder within ten (10) days after the same shall be due, or any failure to perform any other of the terms, conditions or covenants of this Lease to be observed, or performed by Tenant for more than fifteen (15) days after written notice of such default shall have been given to Tenant (unless such default cannot be cured within said fifteen (15) day period and Tenant has commenced to cure such default), then Landlord, besides other rights and remedies it may have, shall have the immediate right of reentry and may remove all persons or property from the Leased Premises by legal process. 3 16. Rieltt of Entrv. Landlord or Landlord's agents shall have the right to enter the Leased Premises at all reasonable times to examine the same and show them to prospective purchasers or Tenants of the Leased Premises, and to make such repairs, alterations, improvements or additions as the Landlord may deem desirable so long as said entry does not unreasonably interfere with Tenant's use of the Leased Premises. 17. Covenants. 17.1 Upon payment by the Tenant of the rents herein provided, and upon the observance and performance of all covenants, terms and conditions on Tenant's part to be observed and performed, Tenant shall peaceably and quietly hold and enjoy the Leased Premises for the Term hereby demised without hindrance or interruption by Landlord or any other person or persons lawfully or equitably claiming by, through, or under the Landlord subject, nevertheless, to the terms and conditions of this Lease. 17.2 Tenant agrees: (a) to occupy the Leased Premises in a safe and careful manner, without committing or permitting waste; (b) to neither do nor permit anything to be done or keep or permit to be kept, anything in or about the Leased Premises which contravenes Landlord's insurance policies or increases the premiums therefore; (c) to neither commit nor suffer to be committed any nuisance or other act or thing which may disturb the quiet enjoyment of any other occupant, lessee or Tenant of the Leased Premises, including but not limited to the reproduction of sound which is audible outside the Leased Premises or permitting odors to be unreasonably dispelled from the Leased Premises; provided however, Tenant shall not be prohibited from engaging in the normal course of its business by this subsection; (d) to place no merchandise, sign or other thing of any kind on the sidewalks or other common areas adjacent to the Leased Premises or elsewhere on the exterior of the building, or otherwise obstruct the common areas or service areas; (e) to keep the Leased Premises orderly, neat, clean and free from rubbish and trash at all times and to keep any refuse in proper containers in the interior of the Leased Premises until the same is removed, and to permit no refuse to accumulate around the exterior of the Leased Premises (and Landlord shall be entitled to charge Tenant a $100.00 fee for a violation of this provision, and to double the amount of such fee for each additional violation hereof); f) omitted; (g) to conduct no auction, fire or going out of business sale without the prior written consent of Landlord; (h) to permit Landlord free access to the Leased Premises at all reasonable times for the purpose of examining the same or making alterations or repairs to the Leased Premises that Landlord may deem necessary for the safety or preservation thereof, (i) except as provided by Landlord, to adequately heat and cool the Leased Premises; 0) to permit no lien, notice of intention to file lien or other charges which might be or become a lien or encumbrance or charge upon the Leased Premises or any part of the building or adjacent property or the income there from, and to suffer no other matter or thing whereby the estate, right and interest of the Landlord in the Leased Premises or any part thereof might be impaired; (k) to solicit no business in the common areas, nor distribute handbills or other advertising matter to any persons, nor place the same in or on automobiles in the common areas; (1) to refrain from using the Leased Premises for any prohibited or unlawful acts; (m) to comply with all reasonable rules and regulations which Landlord (as hereafter defined) may from time to time establish for the use and care of the Leased Premises; and (n) to make no use whatsoever of the roof of the Leased Premises or any structure within the building, without first obtaining Landlord's written consent. 18. Notices. All notices, requests and other communications hereunder shall be in writing and shall be deemed to be duly given if delivered or deposited in the U.S. Mail, first class postage prepaid, or certified, (except for rent payment) to the Landlord as follows: Name: JOTL Properties. LLC Attn: Attn: Jacob Olinger Phone: (763)295-2614 Fax: (763)295-3010 Address: 114 West 3`a Street. Suite 200, Monticello, Minnesota 55362 and to Tenant as follows: Name: Preferred Title, Inc. Attn: l Phone: tle"�-agCir2Aga�on Fax: 5 - otyv Address: "tb3-a9S-toy6b ll3 �1es4 drp.�oat) Po eoY- to 1 , ka t}itel,%o kkn SGVpZ Each party may, from time to time, designate a different address by notice given in conformity with this paragraph. The date of mailing as indicated by U.S. Postal return receipt shall be the Commencement Date for calculating any time periods associated with the giving of notice hereunder. 19. Amendments. It is acknowledged that the covenants and obligations herein are the full and complete terms of this Lease, and no alteration, amendments or changes to such terms shall be binding unless first reduced to writing and executed with the same formality as this agreement. This provision shall not apply to changes of address for forwarding of notice or rental payments. 20. Headings. The headings hereof are intended as guides only and shall not be construed as having any legal effect. 21. Heirs, Successors. and Assigns. Each and every obligation contained in this Lease shall be jointly and severally binding upon the respective parties, their heirs, legal representatives, successors, and assigns. 22. No Waiver. Failure of either party to insist on strict performance of the terms of this Lease, or the waiver of any breach of tern or condition of this Lease by such party, will not be construed as waiving any other [elms or conditions that remain or continue under this Lease, and this Lease will remain in full force and effect. 23. Disputes. In the event of litigation relating to this Lease, the prevailing party shall be awarded court costs and reasonable attorneys' fees. 24. Estoppel — Subordination Agreement. Tenant covenants and agrees with the Landlord that Tenant shall, if and whenever reasonably required by Landlord and at Landlords expense, consent to and become a party to any instrument relating to this Lease which may be required by or appropriate or on behalf of any purchaser, bank or mortgagee from time to time of the said Leased Premises including, but without restricting the generality of the foregoing, an acknowledgement/estoppel certificate confirming the terms of this Lease and to any and all renewals, extensions, modifications, recasting or refinancing , the Commencement Date and termination of this Lease, prepaid rents if any, and confirming that all work required to be done under [Itis Lease with respect to the demised Leased Premises has been performed by the Landlord and that the Landlord is not in default under the terms thereof. 25. Subordination. This Lease is subject and subordinate to the lien of all and any mortgages (which term "Mortgage" shall include mortgages to secure any financing or debt of any nature whatsoever) and to all and any renewals, extensions, modifications, recasting or refinancing thereof. in confirmation of such subordination, Lessee shall, at Lessor's request, promptly execute any requisite or appropriate certificate or other document. Lessee agrees that in the event that any proceedings are brought for the foreclosure of any such mortgage, Lessee shall attom to the purchaser at such foreclosure sale, and Lessee waives the provisions of any statute or rule of law, to the extent legally permissible, now or hereafter in effect, which may give or purport to give Lessee any right to terminate or otherwise adversely affect this Lease and the obligations of Lessee hereunder in the event that any such foreclosure proceeding is prosecuted or completed. 26. Hazardous Materials. Tenant shall indemnify, defend and hold Landlord harmless from any claims, judgments, damages, penalties, fines, costs, liabilities (including sums paid in settlements of claims and costs of cleanups) or loss including attorney's fees, consultant fees and expert fees that arise during or after the Term of this Lease from or in connection with the presence or suspected presence of toxic or hazardous substances in the soil, groundwater, or soil vapor on or under the Leased Premises, unless the toxic or hazardous substances are present solely as a result of the gross negligence or willful misconduct of Landlord, its officers, employees or agents. Tenant shall not engage in the mixing, refilling or manufacture of hazardous chemicals in the Leased Premises and shall indemnify, defend and hold Landlord harmless against any claims related to Tenants use or disposal of hazardous substances. 27. Compliance With Laws Landlord expressly warrants that the Leased Premises complies with all applicable laws, rules, and regulations, and Landlord shall be solely responsible for any repairs or improvements required to adhere to such laws, rules and regulations. However, if Tenant makes improvements or alterations to the Leased Premises, it shall be the Tenant's responsibility to comply with all applicable laws, rules and regulations regarding such improvements or alterations, at Tenant's sole cost and expense. 28. Other Terms. 28.1 Signage. Except as otherwise agreed in writing by Landlord, Tenant will not place or cause to be placed or maintained any sign or advertising matter of any kind anywhere on or around the building. At the sole cost of the Tenant, Tenant may install a sign on the exterior part of the building, as long as the sign is (i) approved by Landlord and Landlord; (ii) complies with any applicable local and state laws; and (iii) as long as it does not cast negative publicity on Landlord. Tenant further agrees to maintain in good condition and repair at all times any such sign or advertising matter of any kind which has been approved by Landlord for use by Tenant and to remove such signage, and repair any damages caused thereby, at the expiration of the Term of this Lease. 28.2 Brokers. Each of the parties represents and warrants that there are no claims for brokerage commissions or finder's fees in connection with the execution of this Lease, except as listed below, and each of the parties agrees to indemnify the other against and hold the other harmless from, all liabilities arising from any such claim for which such party is responsible (including, without limitation, the cost of counsel fees in connection therewith) except as follows: Broker for LANDLORD: n/a Broker for TENANT: n/a 28.3 Jurisdiction and Venue. This Lease shall be governed by and construed under the laws of the state of Minnesota and any action shall be venued in Wright County District Court, Minnesota. (Signature Page Follows) IN WITNESS WHEREOF, the parties have executed this Lease in duplicate as of the day and year above in a manner appropriate to each. LANDLORD: JOTL Properties, LLC BY: Its: TENANT: Preferred Title, Inc. B�'� G•��br, Its: �de5tdet�l 2I CITY OF MONTICELLO VOUCHER Please complete, sign, and submit to Accts Payable by due date for check run. Dish. Ck. Batch Pay bs VENDOR: yame A 1,,\j � Lu -it.,, o- tC,,- Address l . O -c'x 116 Address 2 Cites/SL'Zip �,m^-1 t r-0-1 M Statement' " i / —2 a No: S3 DISTRIBUTION OF EXPENSE �/2v Z2 I -01A1.: $ 6107 . �± APPROVED 13Y voucher.As DATE 7/ 2ol20 .7.2 T 0 a w z z 2 JT. W z Z w z W X wsb Memorandum To: Jim Thares, Monticello EDA From: Penny Rolf Date: July 19, 2022 Re: Monticello Downtown Redevelopment Project Business Re-establishment Claim #3 — Alive! Lutheran Church Attached is the Business Re-establishment Claim # 3 for Alive! Lutheran Church with checks as proof of payment. 24.301 (a)(5) — Advertisement of the site $1,483.61 — Postcards, bookmarks and set up fee to advertise new location $1,643.40 — Postage to mail out postcards (sample attached) 540.23 - Exterior signage and banners $3,667.24 K W14511.00MROW,pamel FOWMThurchVielocelion Claims- Complet"Buelness Re -Est. ClaimslBRE k 31MemO - BRE p 3.docx 4/11/22 Monticello Downtown Redevelopment Project Displacee: Alivel Lutheran Church A B 1 E F G H J Business Re -Establishment Claim Not 1 Self -Contractor i Claim Category _... _ _ Claim Description Submitted Eligible_ Recommended Documentation Comments 2 I_ D_Isplacee 3 _24.304 (a)(5( Advertisement $3,127.01 $3,127.01 j —... invoices _— Postcards and postage _ Signage - Exterior sign and 3 _ ---- 35.3 _ Signage $.23 540 $540.23 Invoices banners 4 TOTAL _ . '.._ $3,667_24 $3,667.24 $0.00 - 5 _ �_.. _.— 6 i — 7 _ a (Business Re-establishment Maximum Amount $50,000.00 j 10 + - _IClalm 8l $31,200.00 -- _- 11 j, ;Claimg2 $5,443.97 _ 12 -r- _. _Claim R 3 $3,667.24 -- - - — - - 13 Balance Remaining $9,688.79 Monticello EconoMIC Development Authority v2011108 REESTABLISHMENT —Important. See Over for Definitions/Acknowledgement(s1" Re-establishment Costs Claim v.2017100 Re-establishment Costs Claim Page 1 of 2 RL1033 Occupancy (Days) IM Business O Non -Profit - 0589 K4290 ❑ Farm ❑ Government ❑Advance ®Partial ❑Final Payee(s): Alive! Lutheran Church Submitted Amount $ _ 3 667.24 District Approval: Dist.— S.P. _ Parcel Agency Approval: C.S. proID 1 Date Application Approved: Fed No. County Wright Vendor No.: Acquisition: ❑ Pending iE Accepted ❑ Em. Domain Alln. Finance: Parcel Owner Mao cried To: (Name or caption) Monticello EDA Addressee(SY Alivei Lutheran Church Parcel Addr.: 121 W. Broadway Mailing Addr: PO Box 1166 • 121 W. Broadway C!!Y, State ZIP: Monticello MN 55362 C' State Zip: MonticelloMN 55362 RELOCATION CLAIM ELIGIBILITY LOCATION OF REPLACEMENT SITE Displaces Name(s): Facility Name and/or Type: Commercial Building Occupancy Date: 2010 O Owner ® Tenant Eligibility Date: 11-25-20 Acquisition Date:y-m-20 Street Address: 4o41 Chelsea Road (Notice Of Intent w Purthese ORd e4 else •Pending') ( doennm City, Slate Zip: Monticello MN 55,362 1. Repairs a improvements to the replacement real property required by law, t ode. or ordinance _._..........................$ 2. Modifications to the replacement property to accommodate the business operation ..................... . _...................$ 3. Construction and installation of Exterior Signing to advertise the business................................................................$ 540.23 4- Redecoration or replacement costs of soiled or wont surfaces at the replacement site ..... .... _........................... _..... $ 5. Advertisement of the replacement location ............................................................. .................$ 3127.01 .................................. 6. Estimated increased costs of operation during first 2 yrs ........................................ (leases, taxes, insurance, etc.) $ 7. Other item costs essential, reasonable and necessary to reestablish... ....... ..... (confirm eligibility with the Agency) $ TOTAL THIS CLAIM ................. (maximum $ 50.000.00) $ 3667.24 Total Reestablishment claims Paid -To -Dale (including this claim) :......<$ 40,31121 _ Eligible remaining Reestablishment expenses claimable: ........................$ 9,688.79 Residency Certification: Federal law requires certification of residency status, please check the category or complete the section below that applies to your occupancy status in the United States (see overfordefiniGwns). Your signature constitutes certification. Sole Proprietorship: 1 certify that I am: ❑ a United States citizen ❑ an alien lawfully present in the United States 0 a United States national ❑ a nonU.S. citizen not present in the United States Partnership: I certify that there are partners in the partnership and thatare citizens of the United States, and/or _are aliens lawfully present in the Untied States, and are non -U.S. citizens not present in the United States. Corporation: I certify that Alive! Lutheran Church States. is established by law and authorized to conduct business In the United Claimarn Acknovidedgemerrt 1, the undersigned, do hereby certify diet the above information is true and correct and that documentation attached hereto accurately represents eligible expenses. I also certify that I have not previously submitted nor received payment for any expense submitted with this claim. OFFICIAL USE ONLY. (Comments) Name (print) - lI Felephore—J,�3- Re-establishment Costs Claim v.2017100 Re-establishment Costs Claim Page 1 of 2 RL1033 INELIGIBLE REESTABLISHMENT EXPENSES The following is a nonexclusive listing of reestablishment expenditures not considered to be reasonable, necessary, or otherwise eligible: 1. Purchase of capital assets, such as, office furniture, filing cabinets, machinery, or trade fixtures. 2. Purchase of manufacturing materials, production supplies, product inventory or other items used in the normal course of the business operation. 3. Interest on money borrowed to make the move or purchase the replacement property. 4. Payments to a part-time business in the home which does not "Contribute Materially" to the household income. Contribute MaterialN: The term"contribute materially" means that during the 2 taxable years prior to the taxable year in which displacement occurs, or during such other period as the Agency determines to be more equitable, a business or farm operation: 1. Had average annual gross receipts of at least $5,000; or 2. Had average annual net earnings of at least $1,000; or 3. Contributed at least 3335, %of the owner's or operator's average annual gross income from all sources. 4. If the application of the above criteria creates an inequity or hardship in any given use, the Agency may approve the use of other appropriate criteria. Citizenship / Immigration Terms Defined 49 CFR 24.21a)(2) Arren a" Amfurrypresent In the UMtedStotm The phrase "alien not lawfully present in the United States" means an alien who is not "lawfully present" in the U.S. as defined in 8 CFR 103.12 and includes: (i) An alien present in the U.S. who has not been admitted or paroled into the U.S. pursuant to the Immigration and Nationality Act (8 U.S.C. 1101 et seq. ) and whose stay in the U.S. has not been authorized by the United States Attorney General; and, (ii) An alien who is present in the U.S. after the expiration of the period of stay authorized by the United States Attorney General or who otherwise violates the terms and conditions of admission, parole or authorization to stay in the U.S. `Aliens: Aliens are people who have left (emigrated) a foreign country to the United States. They have some of the same freedoms and legal rights as U.S. citizens, but they cannot vote in elections. ` Resident Allerar A foreigner who is a permanent resident of the country in which hear she resides but does not have citizenship. To fall under this classification in the U.S., you need to either currently have a green card or have had one in the last calendar year. You also fall under the U.S. classification of resident alien if you have been in the U.S. for 31 days or more during the current year along with having been in the U.S. for at least 183 days over a three-year period that includes the current year. `Non -Resident Aliens: A'non-U.S.citizen who doesn't pass the green card test or the substantial presence test. if a non -citizen currently has a green card or has had a green card in the past calendar year, he or she would pass the green card test and would be classified as a resident alien. If the individual has resided in the U.S. for 31 days or more in the current year and resided in the U.S. for more than 183 days over a three-year Period, including the current year, he or she would pass the substantial presence test and be classed as a resident alien. ` Nationals: American Nationals are natives of American territorial possessions. They have all the legal protections which citizens have, but they do not have the full political rights of US citizens. According to 8 U.S.C. §1408 it is possible to be a U.S. national without being a U.S. citizen. A person whose only connection to the US. is through birth in an outlying possession (of 2005 is limited to American Samoa and Swains Island), or through descent from a person so born acquires U.S. Nationality but not U.S. Citizenship. This was formerly the case in other U.S. possessions: ' Guam (1898 - 1950) (Citizenship granted by an Act of Congress) ' Puerto Rico (1898 -1917) (Citizenship granted by an Act of Congress) • US. Virgin Islands (1917 -1927) (Citizenship granted by an Act of Congress) Nationals who are not citizens cannot vote or hold elected office. However, they may reside and work in the United States without restrictions and apply for citizenship under the same rules as other resident aliens. Not all U.S. nationals are U.S. citizens; however, all U.S. citizens are U.S. nationals. Indeed, U.S. passports normally make no distinction between the two, mentioning only the bearers nationality, not his/her citizenship. `Citizens: Persons born in the U.S. or to U.S. citizens in foreign countries are citizens of the United States. Persons born in other countries who want to become citizens must apply for and pass a citizenship test. Those who become citizens in this manner are naturalized citizens. • Natural Born Citizens: A "natural born citizen' is a person born in the territory of the US. or to United States of America citizen parents. • Naturalized Citizens: A "naturalized citizen" is someone who was not born on U.S. soil- they were not a citizen of the country when they were born, but have gone through the process of becoming a citizen. do hereby affirm that, to the best of my knowledge, the displacee is eligible for qualified Reestablishment reimbursements, based on displacee's occupancy of the parcel as a place of economic activity at the time of the initiation of negotiations and/or at the time of the parcels acquisition. 1 further affirm that the displacee qualifies (49 CFR Pt. 24) as a "displaced person", is a small business, farm or non-profit organization, and is therefore entitled to receive Reestablishment payment(s), not to exceed $50,000 (M.S. §117.51), for eligible expenses actually incurred in relocating and reestablishing such small business, farm or non-profit organization at a replacement site. Signed: U4. Il�— Re-establishment Costs Claim Page 2 of 2 RL1033 MAJIRS! Advertising and Design inichele@rnalirs.com Phone: 763-234-5341 r.i4 -," Ed Swingley Alive! Lutheran Church PO Box 1166 Monticello, 55362 Product or Service Creative Service- 20% discount 20% discount for non -profits (reg. $285) P rint 1000 bookmarks Print 10000 6.25x11 postcards ALIVE! LUTHERAN CHURCH PO BOX 1166 MONTICELLO, MN 553621166 Phone: /63-295-1/49 Price $76.00 $65.30 $1,190.31 8f9 3947 �7 !$/W3.61 r'r ISPr �1w JOD tlnu.nrss 8 �� 'o'C Minnesota ier Ban■■k 1191 MGM U • 16w11 -UM V NOVMELW. MNrbata 6 MraxL 1dllO7C'F�'00019�r/G�c"!` T� - - 1:09L9056601: 3 9 100 00 5811• 3947 Balance Due Invoice #0001999 Issue Date: May 23, 2022 Due Date: May 23, 2022 Quantity Line Total 3 $228.00 1 $65.30 1 $1,190.31 $1,483.61 $0.00 $1,483.61 $0.00 $1,483.61 i"�ial(a§imw ( 191Fam.IMate+�feWHrdvnlD:tOledttT7trla IGV lQl veryJDoor Direct Mail (EDDM) Retail® Name and Address of Individual or Organization T Name and Address of Mailing Agwd (H other than Telephone �r for Which Mailing is Prepared mailer) go�f(L,!{,xe0.a uF PO�Ji(o�a I/ %Y�0'74ife! Myl Customer Registration I.D. (GRID) (D Customer Regisbation I.D. (GRID) Post Office of Mailing Processig Category Matteis Mai'erg Date Toel#of gundles per Bundle JqEDDM Flats rnn _M4ie.ello Type of Postage Delivery Type Weight of a Single Piece Every Dow Direct Mail Barcode CD1__I �M Retail Icnduda Max Weight 3.3 ounces Metered 'fp OMeter Strip Route Type(s) Incentive/Discount Claimed Entry Price Category Price No. of Pieces P Dtaal IncenAmaulscount Total Postage Status sge nt Affix Meter Strip Here .a 1931,201 The mallets signature certifies ar ..ptmca of liability for and agreement to pay any revenue deficiancies assessed on this mulling, subject to appeal. If an agent signs this form, the agent certifies that he or she is authorized to sign on behalf of the mailer and that the matter is bond by the codification and agrees to Tray any deficiencies. In addition. agents may be liable for any deficiencies C rest" from matters wdlirh thea responsibilitylonMedge, or control. The mailer hereby owlifies that all admiration hrmished on Ws forth is accurate, truthful, and complete; that the mail and the supporting documentation comply with all postal standards and the Umalting qualifies for the prices and fees claimed; and that the mailing does not contain any meter prohibited by law or postal h� regulation. I understand that anyone who furnishes false or mlsleadkV hdormadon on this tam or who omits edorrnation requested on this form may be subject to criminal andfw civil penalties, including fines ertd imprisonment. U Privacy Notice: For information regarding our Privacy policy visit hvww.usps.c vn of Mager a Printed Name of Maier or Agent Signing Form (70nn;e J. Telephone U)1.5J,,ack Poshraster: Total Postage in A1C 207 Subtotal Postage IncentivefDiscount Amount >. C m c O Weight of a Single Piece ounces Total Number of Pieces Total Postage (A y c m n l to b u) USF ALIVE! LUTHERAN C 7& -SM HURCH 0 (n PO BOX 1166 ma 3949 o a =1 MOICELLO MN 55362.1166 USI DATE PAYTO u . c S DM Et i, Nu No $ �n 1SJ�. pZ� oW 21 a Premier Bank 6 �4 o I t 0 .s1a®swc .7Mmrr'n m oesaa -U CD I) � e' mwncByq MNNB&, A®Q v ( MFdTp C � a (' i:091g05680i. 391000058x■ o Z> 491.9 1Z PS Fmo 35587, July, 2014 (Page 1 of 2f PSN 753D-13000-6929 This forth and maiirg standards available on Postal Explorer at pe.usps.com a United States Postal Service Every Door Direct Mail (EDDM) Retail® r t OFice: Note Mag Arrival Date & Tm:e Not Round Slump) 6,ONI1c6nD, 1ANNENOTA MEMO Y --- — ---- M 1:09 L905L801: 391,00005811' 3948 PS Form 5Z Name and Address of Individual or Organization Telephone Name and Address of Mailing Agent (/f olherrhan Telephone for Which Mailing is Prepared — — marls,) �i VC L cl 4-h e rq Cit pt u r YoV L/helst� K!d �/�"jP�o/IfQ�x ii(Q /" �D �m r1 �5.3r.(i Customer Regi islragai fDt(Clttu) p� Customer Registration I.D. (GRID) post 0fice of Mailing r l t (e I f Processing Category ®EDDM Flats Mailer's Mailing Date &- G- a oaa Total # of Bund)es - Total # of Pieces per Bundle 1 i®o Type of Postage Delivery Type Weight of a Single Piece Every Dear Direct Mail Barcode Ch EDDM Retail lIndicia_ — ounces C _Metered .� Max Weight 3.3 ounces � Meter strip Routs Type(s) Incentive/Discount Claimed EntryPrice Cale Subtotal Incentive/Discount gory Price No. of Pieces Postage Amount Total Postage states Affix Meter Strip Here The mailers signature certifies acceptance of liabitity for and agreement to pay any revenue deficiencies assessed on this mailing, subject to appeal. If an agent signs this form, the agent certifies that he or she is authorized to sign on behalf of the mailer and that the mailer is bound by the certification and agrees to pay any deficiencies. In add[ion, agents may be gable for any deficiencies C resulting from matters within their responsibility, knowledge, or control. The mailer hereby certifies that all information furnished on this form is accurate, truthful, and complete; that the mag and the supporting documentation comply with all postal standards and the l� mailing qualifies for the prices and fees claimed; and that the mailing does not contain any matter prohibited by law or postal !�- regulation. 1 understand that anyone who furnishes false or misleading information on this form or who omits information requested N on [his foam may be subject to criminal andfor civil penalties, including fines and imprisonment. U Privacy Notice: For information regarding our Privacy policy visit www.usps.com Sign of Mailer or A enl Printed Name of Mailer or Agent Signing Fob^ Telephone LT.�c� L"OnhiL �, (,(�)schnack l0%?-�91P— 5138 Postmaster: Report Total Postage in AIC 207 Subtotal Postage Incemive/Discount Amount U a O Weight of a Single Piece _ ounces Total Number of Pieces Total Postage fn y «° Q a O m U0 USPS Acceptance Employee Signature Round Date (Required) C v N Q J) Payment Date 0 3948 ALIVE! LUTHERAN CHURCH Big PO BOX 1166 DNo �n is - (2a;2 MONTICELLO, MN 553627166 DATE -- C9 0 O T' a) PAY TO U S P5 1� �I OLIJ - C , U h ORDER OF .y^ ou/ ei m fn C O OLLARS go > M Premier Bank 0 ■ Minnesota isai ' 6,ONI1c6nD, 1ANNENOTA MEMO Y --- — ---- M 1:09 L905L801: 391,00005811' 3948 PS Form 5Z I)bstcavc� InvoiceilMI991 https://wx�%majirs.camt! aPirmace/4cfd8837-3.704ISd-af18a8ed... New location signage, cards Product or Service Price Quantity Line Total Print 250 cards for Pastor $47.36 1 $47.36 Print 2- 54x36 outdoor signage with installation $354.90 1 $354.90 ($150) �fk Print Re -� 2 window banners 58x55 $185.33 1 $185.33 �1 Subtotal $587.59 exempt (0°rir): $0.00 Invoice Total Invoice #0001991 Amount Paid Issue Date: Apr 20, 2022 Balance Due Due Date: Apr 30, 2022 MAJIRS! Advertising and Design michele0majirs.com Phone: 763-234-5341 Bbl to; Additional Customer Info: Ed Swinglay alivemri onhcelloOgmalLcom Alive! Lutheran Church Phone: 763-295-1749 PO Box 1166 Monticello, 55362 New location signage, cards Product or Service Price Quantity Line Total Print 250 cards for Pastor $47.36 1 $47.36 Print 2- 54x36 outdoor signage with installation $354.90 1 $354.90 ($150) �fk Print Re -� 2 window banners 58x55 $185.33 1 $185.33 �1 Subtotal $587.59 exempt (0°rir): $0.00 Invoice Total $587.59 Amount Paid $0.00 Balance Due $587.59 141 4/21/2022, 8:38 AM 1 https:/twvAumajifs.comfLapirinvoice/4cfd8837-3a7O 4l5d-af18-a8cdd.. Notes Thank you for your business. Legal Terms Please make checks payable to MAJIRS! Advertising and Design. PO Box 681, Monticello, MN 55362 Your payment is due within ten days. Your business or ,qan;zat,, wva face a We monthly fee of t53b for unpaid invoices past due with a minimum charge of S70. ALIVE! LUTHERAN CHURCH PO BOX 1166 MONTICELLO, MN 553621166 7-W`9 ] 3931 PAYTOYrl J1 9Ad (r'r +h' FNe$% (n $587.!5`j THE ORDER OF l Roe �.11 / er) P SO,j $CUCII � S160 DOLLARS 8 Irt'e IBIS Premier Bank � Minnesota I.e os. nffaiw m • ,�,,.,,,, MrAlZr4d, 000M i:09L905680v: 391,000058x• 393?, 2 of 2 4/21/2022,8:38 AM 213 CITY OF MONTICELLO VOUCHER Please complete, sign, and submit to Accts Payable by clue date for check run. ® Dish. Ck. Batch VENDOR: Name �(� V 2 LIA.I e o-4— CI,,,J, Address IQpx 1 b� Address 2 cim'STiZip M Ott% C,2 ll 0 6 5 3 temend Invoice No: DISTRIBUTION OF EXPENSE. Pap b1 , 1 �f Zig 7.2 :Acct. No. Amount Description Project Code X30 - I S 3 1,0CA:- at -� aU w=ua 01,ac -36 TOTAL: $ 4 - 1 APPROVED 1 Ol.vv��J DATE: 7/ 2-O/Z0 Z2 voucher.As t d/41=1 z N O a w z z 2 Memorandum To: Jim Thares, Monticello EDA From: Penny Rolf Date: July 19, 2022 Re: Monticello Downtown Redevelopment Project Move Claim # 3 — Alive! Lutheran Church Attached is the Business Re-establishment Claim # 2 for Alive! Lutheran Church. 24.301 (a)(2) — Modifications to the property to accommodate the business $47.36 — Replace Business Cards (proof of pmt — Ck # 3931 attached) K1014511-01MROMParcel FolderalChu.MRebcedod Claims-Compal"Mo Claimswl Claim#31Meeo-M #3. d= wsb i i i � f I I I a `m u j � H c y w c _ E � a I �I I I C I O I Y C V C u u, D x z E G OI N I z a m � T w N v � b b —T— cl 0 w v'^i vii a � y y U C m a a a v c w m O E E E o o m m O 0 E o w a w � N I D ggi o m AIc N N M O Vf l0 I� UJ Ol O � N nl V Monticello EDA MOVING COSTS "Important: Submit Promptly After Move " Occupancy (Days) ❑ Residence ❑ Ad. Device ❑ Government ❑ Other PP 0:589 li ❑ Business ❑ Farm ® Non -Profit OAdvance 0 Partial ❑Final I Payee(s): Alive! Lutheran Church Submitted Amount $ 47.36 ConsultantApproval Penny Rolf, WSB Dist. S.P. Parcel Agency Approval: o.e I.S. Proj ID n,mm�rriw, pale Date Application Approved: Fed No. County Wright Vendor No.: 4cquisition: ❑ Pending a Accepted ❑ Em. Domain Atm. Finance: 'arcel Owner. Mall Check To: (Name or capkm) Monticello EDA Addressee(s): Alive! Lutheran Church 'arcel Addr.: 121 W. BroadwayMailing Addr.: 12 W. Broadway :ity, State Zip: Monticello, MN 55362 City, State Zip: Monticello, MN 55362 RELOCATION CLAIM ELIGIBILITY LOCATION PERSONAL PROPERTY MOVED TO 3isplacee Facility Name Name(s): Alivel Lutheran Church and/or Type: Commercial Building occupancy Date: 2010 ❑ Owner IR Tenant Street Address: 4041 Chelsea Road Eligibility Date: 11-25-20 Acquisition Date: 12-31-20 (Notice Of Intent or Purchase Offer) (If determined, else'Pending') City, State Zip: Monticello, MN 55362 Date(s) of the Move: Begin: 3-1-22 End: 4-1-22 Name of Mover(s): Self -move FOR OFFICVLL USE ONLY (cheek one) MOVING COST OPTION: ❑ Residential Schedule Basis ❑ Recetpt's/Actual Cost X Non -Residential Bid/Estimate Residency Certification: Federal law requires certification of residency status. Please check the category or complete the section below that applies to you or your occupancy status in the United States. Your signature constitutes certification. I certify that I am: ❑ a citizen or national of the United States, or 1 further certify that there are persons in my household; (check one) ❑ an alien lawfully present in the United States, or that are citizens or nationals of the United States, ❑ an alien with personal property lawfully present in and are aliens lawfully present in the United States. the United States Sole Proprietorship: I certify that 1 am: ❑ a United States citizen ❑ an alien lawfully Ela United States national present in the United States ❑ anon -U.S. citizen not present in the United States Partnership: I certify that there are partners in the partnership and that are citizens of the United States, and/or are aliens lawfully present in the United States, and are non-U.S_ citizens not present in the United States. Corporation: I certify that is established by law and authorized to conduct business in the United States. Claimant Acknowtedgement: 1, the undersigned, do hereby certify that the above information is We and correct and that documentation attached hereto accurately represents eligible expenses. 1 also certify that I have not previously submitted nor received payment for any expense submitted with this claim. thonzed AuSgnature: / c n%I,GLCCi Name (print): S <G>` L u J r, Telephone: 26 3_ _995i ��Y Date: Movino Costs Moving Costs Page 1 of 2 RL103- v.201710f RESIDENTIAL Moving Costs Instructions for submitting your claim The State will allow residential moving expenses to a displaced individual or family based on either a ROOM SCHEDULE or reimbursement for ACTUAL COSTS incurred. As a displacce you will be asked to select the method most suitable to your needs. IMPORTANT: Consult and thoroughly discuss moving options and methods with a relocation advisor prior to moving. The State cannot reimburse you for any alteration which may constitute a home improvement. The Agency will notconsider, pay or reimburse for overtime charges, except in emergency situations as determined beforehand by the State of Minnesota. Payments by Room Schedule Under this method, payment is computed on the number of rooms in your residence, exclusive of typical closets, porches, pantries, bathrooms, hallways, entrances or any unfurnished rooms. A basement may be considered one room unless it has been separated into livable rooms such as bedrooms or -creation rooms. Outbuildings used for storage purposes may also be counted by the room basis. The Oeeuoant Provides Furniture The Occupant Does Not Provide Furniture Rooms 1 2 3 4 5 6 7 8 Additional Rooms Rooms 1 Additional Rooms Amount $575 725 925 1125 1325 1525 1725 1925 $275/Each Amount $450 $100/Each Payments by Receipt or Actual Cost Under this method, the State may allow reimbursement for reasonable and uecesssry (as determined by the agency) expenses incurred in moving your personal property fora distance not to exceed 50 miles. This is not an adjustment for inconveniences which have occurred or for time lost at your regular occupation. Moving expenses will be paid upon compliance with the following instructions. 1. When you are moved by a professional moving company, pay the charges and obtain a detailed, itemized receipted bill marked "Paid in Full" and signed by a company representative. Please confirm eligibility with a Relocation Advisor prior to the move. 2. If your personal property is moved by someone other than a professional moving company, you must submit an itemized statement showing the number of people hired, the rates per hour paid, dates, and the total bours worked for each individual and the equipment used. Please discuss this method with your Relocation Advisor prior to moving and incurring expenses. 3. You must complete the bottom portion of the front of this Claim Form in ink. Attach to the original of this form all required information pertaining to your move and mail to the Relocation Advisor shown on the lower left comer on the front of this form. 4. In the event you are financially unable to pay the moving company, special arrangements may be made with the Relocation Advisor to allow direct payment, or an advance payment claim. This must be done well in advance of the moving date. NON-RESIDENTIAL Moving Costs Instructions for submitting your claim Relocation regulations allow moving expenses to a displaced business, farm or non-profit organization based on actual costs incurred in moving personal property for a distance not to exceed 50 miles. However, regulations do not allow for inconveniences which may occur or for business time lost. Reimbursement for eligible moving expenses will be made upon compliance with the following instructions. IMPORTANT: Consult and thoroughly discuss moving options and methods with a relocation advisor prior to moving 1. When a commercial mover is employed, the moving costs are to be paid and a detailed receipted statement obtained. 2. In the event you wish your regular employees to make the move, it is required that you maintain a complete record of dates, time worked, and amounts paid to all persons physically participating in the move. Charges for use of equipment owned by the business may be allowed but shall be comparable to those rates charged by local rental agencies. 3. You may elect to accept the lower of two (2) estimates for moving all of your personal property. These cost estimates will be obtained by the agency and presented to you as an option. With this method, no other moving cost documentation is necessary. 4. You must complete the bottom portion of the front of this Claim Form in ink. Attach to the original ofthis form all required information pertaining to your move and mail to the Relocation Advisor shown on the lower lea comer on the front of this form. The agency will not consider, pay or reimburse for overtime charges except in emergency situations, as determined by the agency. Payment may also be allowed to the owner of a displaced business or farts operator for actual reasonable expenses in searching for a replacement site, not to exceed $2,500.00. Such expenses may include transportation costs, actual time, and certain other expenses actually incurred in searching. A detailed, certified statement of searching expenses must accompany the claim. I do hereby affirm that, to the best of my knowledge, displaces is eligible for reimbursement of eligible Moving Cost's, based on displacee's status and I affirm that, to the best of my knowledge, all personalty occupancy of the parcel at the time of the initiation of negotiations and/or at including all hazardous and environmentally the time of the parcels acquisition. I further affirm that displaces qualifies sensitive materials such as batteries, tires, paints, as a "displaced person", and is entitled to payment for actual, reasonable solvents, insecticides, fertilizers, fluorescent lights, and necessary moving and related expenses for a residential or non - etc., have been / will be removed from i parcel. residential move (49 CFR Pt. 24), as indicated elsewhere on this form. oaa CZe nnt&-k Dboacm$gas — V Date elocationA#ViAor signature I Date Moving Costs Page 2 of 2 RL1032 Invoice kW 1991 hnns:/Ay141y.ma1jir5.comt:_api.4nvoic-e =4cfd8837-3a70-415d-afl8-a8cd.. New location signage, cards Invoice #0001991 Amount Paid Issue Date: Apr 20, 2022 Price Due Date: Apr 30, 2022 MAJIRS! Advertising and Design micheleRmajirs.com Phone: 763-234-5341 1 $47.36 — Bill to: Additional Customer Info: Ed Swingley aliveinmonticello@gmail.core Alive! Lutheran Church Phone: 763-295-1749 X P Eb\S2- PO Box 1166 Monticello, 55352 2- 54x36 outdoor signage with installation New location signage, cards $587.59 Amount Paid Product or Service Price Quantity Line Total Print $47.36 1 $47.36 — 250 cards for Pastor X P Eb\S2- Print 2- 54x36 outdoor signage with installation $354.90 1 $354.80 ($150) Print 2 window banners 58x55 $185.33 1 $185.33 Subtotal $587.59 exempt (0%): $0.00 Invoice Total $587.59 Amount Paid $0.00 Balance Due $587.59 I f1f` 4/21/2022, 8:38 AM 1? 1 6ttps:i;www.majirs.conJ'_apirinvoice(4cfd8837-3a7O 415d-afl8-a8cd.. Notes ,hank you for your business. Legal Terms Please make Checks payable to MAJIRS! Advertising and Design. PO Bos 681, Monticello, MN 55362 Your payment is due within ten da,,. Your business or organrzaL•nr w.;i. faw a We monthly tee of 1.5% for unpaid m,,ices past due with a minimum charge of $10. ALWEI LUTHERAN CHURCH PO BOX 1156 MONTICELLO,MN 55362-1166 5 3931 919 [� Pa�t PAW ?�a 3"a 2• 4,FU.S; $ss7.!Fl DO 18111111 8 d. ,•'Premier Bank N Minnesota w ..s. oeaars cr r¢rsn-rem xfw MCMO rt Lr• OOO�/)�Y.le1.___.. L.___.. _-_._.__ 1:0 9 1 90 56801: 3910000581I• 3931 2 of 2 4121/2022,8:38 AM VENDOR: Name Address 1 Address 2 CitvIST.Lip CITY OF MONTICELLO VOUCHER Please complete, sign, and submit to Accts Payable by clue date for check run. ® Disb. Ck. Batch Ilay by: ., ZOZZ. \1 e J4� QOgStatement/ Invoice No: DISTRIBUTION OF EXPENSE APP voucher.xls .1 !,zROW OR �� • r I�r ffm I I APP voucher.xls .1 Memorandum To: Jim Thares, Monticello EDA From: Penny Rolf Date: June 20, 2022 Re: Monticello Downtown Redevelopment Project Business Re-establishment Claim #3— Elevated Wellness Attached is the Business Re-establishment Claim # 3for Elevated Wellness Calculation: 2 0 U 6 Business Re -Establishment Claim # 3: Payable to Innovative Stucco, Inc. 7- W ra $30,000 — 2111 installment payment — modifications to the property W KA14511-00MROMParcel FoldersTle-gated Welhess%Relocatlon Claims- Completed)Buskness Re -Est. Claims\ORE # Memo • BRE O 3.docx wsb 5/20/22 Monticello Downtown Redevelopment Project Displacee: Elevated Wellness A B C D E F G H I 1 1 Self- Contractor Business Re -Establishment Claim Claim Category Claim Description Submitted Eligible Not Recommended Documentation Comments 2 Innovative Stucco 3 24.304 (a)(21 Modifications to the property $30,000.00 $30,000.00 Estimate 2nd installment See attached estimate 3 4 TOTAL $30,000.00 $30,000.00 $0.00 5 b 7 8 Business Re-establishment Maximum Amount $50,000.00 9 10 Claim p 1 $3,000.00 11 Claim 112 $12,500.00 Claim # 3 $30,000 d12 13 Balance Remaining $4,500.00 Ccll3 ano &VS) b589 4190 P ee . Innovative Stucco, Inc. C.S. Monticello Economic Development Authority REESTABLISHMENT "• Important: See Over for iDeftnitforrs lAcknowledgemeitt(s) •• S.P. Parcel r m Fed No. County Acquisition: © Pending P-1 Accepted Parcel Owner: (Name or caption) Monticello EDA Parcel Addr.: 121 W. Broadway 0 Business 13 Non•Profrt 0 Farm 0 government Submitted Amount $ District Approval: Agency Approval: Date Application Approved, Vii ht Vendor- No.: a Ern. Domain Atin. Finance._ v.2017= ❑Advance ®Partial 13Final Me l che, T AddresSeo:e(s): Elevated Wellness Mailing Addr.: N12169 Misty sag Road Displacee Facility Name Name(s): and/or Type: Residential property Occupancy Date: 2o10 © Owner IM Tenant Street Address; N12169 Misty bog Roed Eligibility Date: 11-23-21 Acquisition Date; 11-10-21 (Notice Of intent or Purchase oiler) fit determined, else -Pending? City, State Zip: lvllno WI 54858 1. Repairs or improvements to the replacement real property required by law, code, or ordinance .............. 2. Modifications to the replacement property to accommodate the business operat€on ................ .........5 30,000.00 3. Construction and installation of Exterlor Sfgning to advertise the business ................. ............................................... 4. Redecoration or replacement costs of Boiled or wom surfaces at the replacement site .................. 5. Advertisement of the replacement location ......................... S 6. Estimated Increased costs of operation during first 2 yrs .............. ,.(leases, taxes, insurance, etc.) S 7. Other item casts essential, reasonable and necessary to reestablish. .... .......... (confirm ellgiblity with the Agency) S TOTAL- THIS CLAIM .............................................. ........... .......... ....................... ................. (maximum S 50,000.0O) $ 30,000A0 Total Reestablishment Claims Paid -To -Date (including this claim) :...... <$ 45,500,00 Eligible remaining Reestablishment expenses ctatmablw ........................5 4,500.00 DoW Residency Cerliflcatlon; Federal law requires certification of residency status, please check the category or complete the section below that applies to Your occupancy status in the United States (see over for ellnffions). Your signature constitutes certification. Sal Pro rs 'etoi : I cenify that I am: We United States citizen ❑ an alien iawfutly present in the United States I] a United States national ❑ a non -U.S. citizen not present in the United States Partnershii : I certify that there are partners in the partnership and that are citizens of the United States, and/orere aliens lawfully present in the United Slates, and are non -U.S. citizens not present in the United States, Corporation: I certify that Alivel Lutheran Church _ is established by law and authorized to conduct business in the United Statos. Claimant Acknowledgement: I, the undersigned, do hereby certify that the above information Is true and correct end that documentation attached hereto accurately represents eligible expenses, I also certify that I have not previously submitted nor recibived payment for any expense submitted with this claim. {Cerrritsntsl Authorized Signatu. re:a644�= t _ Name. (pant): C , t Taleph.one: - Date: Re-eslaMshment Costs Claim v.2a17105 Re-establishment Costs Ctalen Page 1 of 2 Ri1033 INELIMLE REESTABLISHMENT EXPENSES The following is a nonexclusive listing of reestablishment expenditures not considered to be reasonable, necessary, or otherwise eligible: 1. Purchase of capital assets, such as, office furniture, filing cabinets, machinery, or trade fixtures. 2. Purchase of manufacturing materials, production supplies, product Inventory or other Items used in the normal course of the business operation. 3. Interest on money borrowed to make the move or purchase the replacement property. 4. Payments to a part-time business in the home which does not "Contribute Materially" to the household income. Contribute Materially: The term "contribute materially" means that during the 2 taxable years prior to the taxable year in which displacement occurs, or during such other period as the Agency determines to be more equitable, a business or farm operation: 1. Had average annual gross receipts of at least $5,000; or 2. Had average annual net earnings of at least $1,000; or 3, Contributed at least 33% % of the owner's or operator's average annual gross income from all sources. 4. If the application of the above criteria creates an Inequity or hardship In any given case, the Agency may approve the use of other appropriate criteria. Citizenship/ Immigration Terms Defined 49 CFR 24.2(a)(2) Allen not lawfully present In the United States. The phrase "alien not lawfully present In the United States" means an alien who Is not "lawfully present' In the U.S. as defined in 8 CFR 103.12 and includes: (i) An alien present In the U.S. who has not been admitted or paroled into the U.S. pursuant to the Immigration and Nationality Act (8 U.S.C. 1101 etseq. ) and whose stay In the U.S. has not been authorized by the United States Attorney General; and, (ii) An alien who is present in the U.S. after the expiration of the period of stay authorized by the United States Attorney General or who otherwise violates the terms and conditions of admission, parole or authorization to stay in the U.S. * Allen$: Aliens are people who have left (emigrated) a foreign country to the United States. They have some of the same freedoms and legal rights as U.S.. citizens, but they cannot vote In elections. * Resident Aliens: A foreigner who is a permanent resident of the country In which he or she resides but does not have citizenship. To fall under this classification In the U.S., you need to either currently have a green card or have had one in the last calendar year, You also fall under the U.S. classification of resident alien If you have been In the U.S. for 31 days or more during the current year along with having been In the U.S. for at least 183 days over a three-year period that includes the current year. * Non -Resident Aliens: Anon -U.S. citizen' who doesn't pass the green card test or the substantial presence test. If a non -citizen currently has a green card or has had a green card in the past calendar year, he or she would pass the green card test and would be classified as a resident alien. If the Individual has resided In the U.S, for 31 days or more in the current year and resided in the U.S. for more than 183 days over a three-year period, Including the current year, he or she would pass the substantial presence test and be classified as a resident alien. * Nationals: American Nationals are natives of American territorial possessions, They have all the legal protections which citizens have, but they do not have the full political rights of US citizens. According to 8 U.S.C. §1408 It is possible to be a U.S. national without being a U.S. citizen. A person whose only connection to the U.S. Is through birth in an outlying possession (of 2005 is limited to American Samoa and Swains Island), or through descent from a person so born acquires U.S. Nationality but not U,S. Citizenship. This was formerly the case In other U.S. possessions: * Guam (1898 - 1950) (Citizenship granted by an Act of Congress) * Puerto Rico (1898 - 19171 (Citizenship granted by an Act of Congress) * U.S. Virgin Islands (1917 - 1927) (Citizenship granted by an Act of Congress) Nationals who are not citizens cannot vote or hold elected office. However, they may reside and work In the United States without restrictions and applyfor citizenship under the same rules as other resident aliens. Not all U.S. nationals are U.S. citizens; however, all U.S. citizens are U.S. nationals. Indeed, U.S. passports normally make no distinction between the two, mentioning only the bearer's nationality, not his/her citizenship. * Citizens: Persons born in the U.S. or to U.S. citizens in foreign countries are citizens of the United States. Persons born in other countries who want to become citizens must apply for and pass a citizenship test. Those who become citizens in this manner are naturalized citizens. * Natural Born Citizens: A "natural born citizen" Is a person born in the territory of the U.S, or to United States of America citizen parents. * Naturalized Citizens: A "naturalized citizen" is someone who was not born on U.S. soll- they were not a citizen of the country when they were born, but have gone through the process of becoming a citizen. I do hereby affirm that, to the best of my knowledge, the displacee is eligible for qualified Reestablishment reimbursements based on displacee's occupancy of the parcel as a place of economic activity at the time of the initiation of negotiations and/or at the time of the parcels acquisition. l further affirm that the displacee qualifies (49 CFR Pt. 24) as a "displaced person", is a small business, farm or non-profit organization, and is therefore entitled to receive Reestablishment payment(s), not to exceed $50,000 (M.S. §117.51), for eligible expenses actually incurred in relocating and reestablishing such small business, farm or non-profit organization at a replacement site. Signed: --a Re-establishment Costs Claim Page 2 of 2 RL1033 : Contract INTERIOR 8- EXTERIOR SPECIALIST JANE: at=r:KpvVs;r: ", P.Q. PDX 905 f6427 SES- o e' L;Ca 6C5343c< �; �rs�� ss� �c�� V4YViF1.t,�lNL^iAT cC� v�Mvcc�. EMAIL_ NNOVATiVES LTCCo. vtA! CCM COM Customer Name:�f r�a', N J / ► IA C_ Cate: Address: N (> 7— T lAr— a8-�,:►� ' -fie /� � J � � � � — � "4- Terms Customer a, L/. S/de. d d Date PLEASE SIGN AND RET;JRN Vi' H EXPEC TED FATE OF WORK- THANX YOU Wen• C': wl' t>e�C, - r prit7 'L'Ri.d Fr'r !� « Ill. IIIl From: Liz Lindrud To: Debbie Davidson; Julie Chenev Subject: RE: Please Confirm Coding Date: Friday, July 15, 2022 10:54:36 AM Attachments: imaae001.Dno That coding is correct Thanks! From: Debbie Davidson <Debbie.Davidson @ci.monticello.m n.us> Sent: Friday, July 15, 2022 10:06 AM To: Liz Lindrud <Liz.Lind rud@ci.monticello.mn.us>; Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Subject: Please Confirm Coding Liz, Will you please confirm the coding on the following (2) attached vouchers from Jim Thares? Elevated Wellness 7-15-22 S1712.44 Innovative Stu €€o 7-15-22 530,000 Thank you, Debbie D2V�dsow Finance Clerk City of Monticello 763-271-3225 Debbie.davidson@ci.monticel lo.mn.us ao@ci.monticel lo.mn.us Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. CITY OF MONTICELLO VOUCHER Please complete, sign, and submit to Aces Yavuble by due doter fi r check ran. ® Disb. CIc. Ratch Pa\ b�: -Z , � tZaZZ VENDOR: T �salV Fame fit, ei ld:1. Address l O pd� .Address 2 L�IJ Statement! DISTRIBUTION OF EXPENSE k W v -(e-, A voucher.xls DATE j 1� � 2 0 Z z ri� , ILra�• . r r.aa��ti�tL�1 MWAll C k W v -(e-, A voucher.xls DATE j 1� � 2 0 Z z 0 U L) z w m 0 a a z 2 O a a Wu z z O. 0 M UJ LU z LU a a a z LL X 0 ti Transmittal To: Monticello EDA Attn: Jim Thares 505 Walnut Street, Suite 1 Monticello, MN 55362 MAM.0 Date: 5-17-22 Re: Move Claim — Searching Task Elevated Wellness Project No- 14511 I� We are sending to you. ❑ Attached ❑ Separately ❑ By Messenger ❑ Shop Drawings ❑ Specifications ❑ Contracts ❑ Report l❑ Prints ❑ Correspondence ❑Other Document Description Move Claim # 2— Elevated Wellness — Searching expenses Please get this on the Agenda for approval and payment. The above are: ❑ Shop drawings as checked ❑ For your use ❑ For your information ❑ No exceptions taken X For your approval ❑ For your review ❑ Rejected ❑ For your distribution ❑ As you requested ❑ Revise and resubmit X For your processing ❑ For signature ❑ Note markings ❑ For your records ❑ Other Remarks: CC" By Penny Rolf, WSB & Associates Tele: 612-360-1314 or 763-231-4868 a m G V' V y E O , a o a v v w; � I o EF E', o v c a , 3 U 7, N OOi h O u jv ' fy N O w v LL E h J3 � N N c: m U � N y _ ml 'i m vl m . 00 a UI .E I m m a, U� N, U c •O � U N I 01 m u` C: O. U' a `E ry h Monticello EDA MOVING COSTS " Important: Submit Promptly Alter Move " _.-- Government 13Other PP tP Partial ❑ Final ccui3a_ ncy (Days) ❑ Residence ❑ Ad. Device ❑ 0'89 Ht�9© X Business ❑Farm ❑, Non -Pro tit E3 Advance ,-- Submitted Amount $ 1,712.44 Payee(s): Elevated Weflness, LLC ConsultantApproval Penny Rolf, WSB 5-17-22 Dist. S.P. Parcel Agency Approval: C.S. _ Proj ID Date Application Approved: Fed No. County Wright Vendor No.: Acquisition: ❑ Pending -1 Accepted ❑ Em. Domain Attn. Finance: Parcel Owner: Mail check To: (Name or Caption) Monticello EDA Addressee(s): Elevated Wellness, LLC Parcel Addr.: 121 W. BroadwayMailing Addr.: % Shl1oh Thompson N12169 Misty Bog Rd City, State Zip: Monticello, MN 55362 _ City, State Zip: Trego, Wl 54888 RELOCATION CLAIM ELIGIBILITY LOCATION PERSONAL PROPERTY MOVED TO Displacee Facility Name Name(s): Elevated Wellness and/or Type: Residential Horne Occupancy Date: 10-2017 ❑ Owner 0 Tenant N 12169 Misty Eligibility Date: 11-23-21 Acquisition Date: 11110!21 8p N12169 Misty Bag Rd malice Of iiaem or Porwase Offer, lir darermined. else-Pen[linfl City, State Zip: Tre o, WI 54886 Date(s) of (lie Move: Begin: 2-01-22 End; 3-4-22 Name of Mover(s): Self -move FOR OFFICIAL USE ONLY (check onc) MOVING COST OPTION: ❑ Residential Schedule Basis ❑ Receipt's/Actual Cost X Non -Residential Bid/Estimate Residency Certification: Federal law requires certification of residency status. Please check the category or complete the section below that applies to you or your occupancy status in the United States. Your signature constitutes certi@calion. I certify that I am: ❑ a citizen or national of the United States, or I further certify that there are persons in my household; (check one) ❑ an Alien lawfully present in the United States, or that are citizens or nationals of the United Slates, ❑ an alien with personal property lawfully present in and are aliens lawfully present in the United States. the United States Sole Pr rie r hi : I certify that I am: ❑ a United States citizen ❑ an alien lawfully present in the United States ❑ a United States national ❑ a non -U.S. citizen not present in the United States Partnership: I certify that there are partners in the partnership and that are citizens of the United Slates. and/or are aliens lawfully present in the United States. and are non-U. S. citizens not present in the United Slates. Coraoral€on: I certify that Elevated Wellness- LLC ,is established by law and authorized to conduct business in the United States. Claimant Acknowledgement• 1, the undersigned, do hereby certify that the abov informal n is true and correct and that documentation attached hereto accurately represents eligible expenses. I also certify that I have not previou itted or rete' payment for any expense submitted with this claim. OFFICIAL USE ONLY: (Comments) Authorized Signature: Name (print): fTelephone5-7 Date: 5Z i 7 0 Moving Costs v.2017108 Moving Costs Page 1 of 2 R1.1032 RESIDENTIAL Moving Costs Instructions for submitting your claim The Stale will allow residential moving expenses to a displaced individual or family bawd on either a ROOM SC1IFOU1.E or reinlhumement fur AC'TUAl., COSTS inctnred. As a displacee you, will be asked to select the nlvthod most suitable to your need~. INIPORTANT: Consultand thoroughly discuss moving options and methods with a relocation advisor prior to mowing. The ~tate cannot reiniburvc yllu rtlr illy alteration tvhich may const ittrte a home improvement. The Agency will not viintiider, piny or reirllbursc fix uvcriimc charges, except in emergency sittialians as determined beforehand by ills Slate of Xiinnes(ltu. Payments by Room Schedule Under Ihis method, p:tynlent is computed on the number fif rooms in your residcllcc, cxclusivc of lypie ll closets, porehes:, pinnies, batliroonis, hulls ays, tllIMMICS or any onsumished roonlN. A basenicril may he considered one room unlews it has been separated into livable room: such :rs hedrnonlc or creation rooms, Outbuildings used for sEurnee puMases may also he counted by the room basis, TLe upant Rooms tG $575 r 725eS925m1125 1325 1525 1725 1925 $275/Each h Amount $a50 Not Provide Furniture — - __ _ The Occupant I)oes 6 7 8 Additional Rooms Roams 1 Additional Rooms $ 1 OO/Each Payments by Reecipt or Actual Cost Under this nwethod. the State may allow reimburseinent inr reasonable and necessary (as determined by aha agency) cxpencc.< incurred in moving your personal property fin' a distance not to cxctxd 50 miles. This is not Ila adjuNimcnl for inconveniences which have occurred or lilr time lost at your f0guhu occupation. N1u1 ins; expeino.. %%ill he paid upon compliance with the liillowilig insarucliom. i . When you are moved by a professional mowing company, pay the charges anti obtain a detailed. itetnixed receipied hill marked "Paid in Full" and signcd by a company reproscntalive. Pienic Confrnn c'llgihrli(N. will) a Rchwan,m Advisor prior to the nnrve. 2. 11 your perx)naI property Is misled by slllneone other than a prolcssional null (ilk` COMPany, You Must subirlil :Ir] ite!]il/.cd %latf'11 em show'illg the number of people hired. the rotes per (lour paid, dates, and Clic total hour% worked file cticll hidividtal and the cgnipment used. Plcasc discuss Ihis method with your ROUL-atiun Advisor prior to moving and incurring expenstw. .. YOU tonal complete the bollom portion lit the front ofthiv Claim 1'ornt in ink. Attach 141 the original of this form all required iolEmmn(ion pertaining to your move and mail to the Relocation Ad%-iurr -diown on the lower left corner on the front of this form. 9. Ill the L'i'mo )Vu tire 1Indlwially unable tis pay the 1110611€; Company. SIV611 ilei-an9cmentR arty he made with the Relocation Advisor to alluiv direct payment, or an advance paynx iii claim. This mast ole dont well in advance ofthe obviate (late. NON-RESIDENTIAL Moving Costs Instructions for submitting )-otar claim Relocation Icgulatitnrs alloy nim ing expanses to a displaced hu%iness. farm or non-profit organization haled oil actual co;i% incurred in moving persomd property fur a distaoCC uul to exceed 50 miles. However, regulations du not allow for inconveniences which may occur or fur business time last. tieimbursemenr for eligible moving expenses will he made: upon compliance with the following insultctions. I NIPORTANT: Consult and thoroughly discuss moving oprion% and method% with a relocation advisor prior to moving. 1. Whert a commercial mover is employed. the moving costs nre to be paid and a dt-tailed rrceipwd statement obtained. 2. in the cwtit you wish your regular employces to make the move. it is required that you aminta€n a complete record of dates, tions worked. and amukknts pan[ lis :ell pci:sons physically purticipnting in Clic halve. Charges for tisc orcquipotent ow'ncd by the business slay he 311LI V.xi hill shall be eonlparablc to those rate: charged by local rental agencies. 3. You play elect to aeccpt the lower of two (2) estlnlale:s for moving all of your Personal property. These coat estinlates will he obviincd by the agency and preswowd to you as an option, Willi this methad, no other moving cost documentation is nccv%san , 4. You must complete the bollorn portion of dic front of this Claim Form in ink, Attach to the original ofthis form all require([ inlorlilation perlahuing ttk your move and mail to the Relocation Advisor viloull on the to vcr fell confer nn the ulna of this I'(lml. The agency will not consider. pay or reimburse for overtime charges s:xcepi in emergency situations, as determined by the agency. Paynwot may also br allowed to the owner o!' a displaced business or litrni operator fix actual reasonable o:xpcnscs in %carchinK likr a replaccamn siic, nut its exceed S?.5N.Qf1. Such expenses may include transportation costs, actual time, and certain other expenses actually incurred in searching. A detailed, certified Statement of searching expenses must accompany the claim. t-1 Dksptacer 8 nahue ole Relocation Apar Signature Gate Moving costs page 2 0` 2 RL1032 I do hereby affirm that, to the best of my knowledge, displacee is eligible for reimbursement of eligible Moving Cost's, based on displacee's status and I affirm that, to the best of my knowledge, all personalty occupancy of the parcel at the time of the initiation of negotiations and/or at including all hazardous and environmentally the time of the parcels acquisition. I further aff rmi that displaces qualifies sensitive materials such as batteries, tires, paints, as a "displaced person", and is entitled to payment for actual, reasonable solvents, insecticides, fertilizers, fluorescent lights, and necessary moving and related expenses for a residential or non - etc., have been 1 will be removed from the parcel. residential move (49 CFR Pt. 24), as indicated elsewhere on this form, _ (wet. ane) t-1 Dksptacer 8 nahue ole Relocation Apar Signature Gate Moving costs page 2 0` 2 RL1032 1 Table 1 contact bate . Text/Email Tour/meeting miles er White Dec 1, 2021 9:OOAM Call Haurs 9:30AM ite Dec 3, 2027 4:22PM 1.5 ite Dec $, 2021 12:55PM 0.75 ite T Dec 8, 2021 1:45PM 0.25 r Dec 8, 2021 10:OOAM 11:15r 0.25 _ Dec 14, 2021 12:O7PMflf 2.75 Dec 15, 2021 10:00 AM 4.75 Commerce 1 O:OOAM 0.5a businesses City of Monticello/ Dec 15, 2021 - Hayden (building 11:OOAM 0.50 owners) Building owners Dec 15, 2021 for Travel and 1:OOPM 0.75 Cocktails on Broadway Building owners for backer chiro Dec 15, 2021 : 3DOPM 16 1.50 Buliseye for Dec 16, 2021 stripmall 1567 10:OOAM 0.50 Spooner Economic Dec 17, 2021 9:ODAM 47.6 2.25 Development meeting and tour local businesses Spponer Chamber Dec 17, 2021 12:OOPM of commerce 2 0.75 Heartwood Resort Dec 18, 2021 - Heartwood Resort Dec 20, 2021 S:OOPM 0.75 11:OOAM 8.6 1.25 Heartwood Resort Dec 21, 2021 12:45 Heartwood Resort Dec 21, 2021 1:OOPM 025 (mffl regarding my 1 business) Heartwood Jan 5, 2D22 10:30AM (Interview) 11:00 1,5 IGm Nistler Jan 11, 2022 8:00PM (Elkriver 81511M 0,50 Opportunity) Minong Chamber Jan 12, 2022 7:OOAM of Commerce 0.25 James Price Janus n 9:DOAM (buil�ng owner 9:OOAM 0.50 Minong) James Price (building owner ! Jan 13, 202 9:30AM 9:30AM ! Minong) 0.50 Minong Chamber Jan 13 of commerce 1:00 PM 0.50 City of Minong Jan 20, 2022 11:00AM 26 lakes realty mining Jan 20, 2D21 D.75 1:15 PM 0.50 1 Cortitac# Date Text/1=mail Tour/msec 019 miles Call Coldwell Banker Jan 20, 21]21 Hours Realty (Barb) 3:OOPM 25 1 James Price (building owner Jan 26, 2022 11:45PM 9:3oAM 25 12:OOPM Minong) 2.25 Lorri for Jack Link Feb 4, 2022 house/building 9;30AM 0.25 owner James price Feb 4, 2022 10:OOAM (building owner 0.50 Minong) Lord for Jack Link housebuilding February 10:45AM. 1;30pM 26 owner Minong 7.5 Duane Benkowski Feb 18, 2022 7:OOAM - - - - For home office 1.5 Plans Lord for Jack Link Feb 26, 2022 12:11 PM Building 0.25 Lord for Jack link Feb. 28. 2022 1:02PM Building 0.25 Lord for Jack Link Feb 28, 2022 Building 1.20PM 0.50 Meeting with March 2, 2022 7:3OAM Duane Benkowski 2.75 Home ofi"ice planning 2 19a. ao 37- Y. 5K,S xjSU PD "4q # i60C) From: Liz Lindrud To: Debbie Davidson; Julie Chenev Subject: RE: Please Confirm Coding Date: Friday, July 15, 2022 10:54:36 AM Attachments: imaae001.Dno That coding is correct Thanks! From: Debbie Davidson <Debbie.Davidson @ci.monticello.m n.us> Sent: Friday, July 15, 2022 10:06 AM To: Liz Lindrud <Liz.Lind rud@ci.monticello.mn.us>; Julie Cheney <Julie.Cheney@ci.monticello.mn.us> Subject: Please Confirm Coding Liz, Will you please confirm the coding on the following (2) attached vouchers from Jim Thares? Elevated Wellness 7-15-22 S1712.44 Innovative Stu €€o 7-15-22 530,000 Thank you, Debbie D2V�dsow Finance Clerk City of Monticello 763-271-3225 Debbie.davidson@ci.monticel lo.mn.us ao@ci.monticel lo.mn.us Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. Northland Securities, Inc. 150 South Fifth Street Suite 3300 Minneapolis, MNI 55402 Voice: 612-851-5900 Fax: 612-851-5951 Bill To: City of Monticello Sarah Rathlisberger, Finance Director 505 Walnut Street, Suite 1 Monticello, MN 55362 Invoice NORTHLAND Invoice Number: 7189 SECURITIES Invoice Date: 7/8/22 Page: Qu Fi JUL 1 i Customer PO Payment Terms Sales Rep ID Due Date Annua1TIF Reporting Net 30 Days 8/7/22 Description Amount or services related to 2021 Annual TIF Reporting. 1,000.00 ease see enclosed detail. Subtotal 1,000.00 Sales Tax Total Invoice Amount 1,000.00 Payment Received TOTAL 1,000.00 majn 612-851-5900 I To11-Free 800-851-2920 I Fax 612-851-5987 150 South Fifth Street, Suite .Wo I Mimicapolis, MN 55402 Northland5ecurities.i_om Membrr FINRA and SIPC, Regrslowd Willi SFC mid MSRB t NORTHLAND `F PUBLIC FINANCE INVOICE SUPPLEMENT Client: City of Monticello Project: 2021 Annual TIF Reporting Contact: Sarah Rathlisberger Finance Director City of Monticello 505 Walnut Street Suite 1 Monticello, MN 55362 Billing Period: June 2022 Services Performed r Complete TIF District 22 annual reporting form and pro forma analysis Staff Time Expenses Total This Period Fee Flat fee for TIF 22 Total Mileage Printing Other Total Expenses Project Summary Total Budget Billed This Period Billed Previous Budget Remaining # of Districts Rate Billable 1.00 $1,000 $1,000.00 $0.00 1.00 $1,000.00 $0.00 $0.00 $0.00 $0.00 $1,000.00 $ 1,000.00 ($1,000.00) $0.00 Northland Securities, Inc. Page 2 of 2 From: Sarah Rathlisberaer To: AP Subject: RE: Northland Securities 7189 inv. 7/8/22 $1000 Date: Monday, July 11, 2022 7:04:04 PM This is okay to pay. 213-46522-431990. Thankyou! Sarah Rathlisberger, CPFO Finance Director City of Monticello, MN Tel: 763-271-3201 Fax: 763-295-4404 NOTE: The contents of this E-mail may contain information that is legally privileged and/or confidential to the named recipient. This information is not to be used by any other person and/or organization. The views expressed in this document do not necessarily reflect those of the City of Monticello. Email correspondence to and from City of Monticello government offices is subject to the Minnesota Government Data Practices and may be disclosed to third parties. From: AP <AP@ci.monticello.mn.us> Sent: Monday, July 11, 2022 2:37 PM To: Sarah Rathlisberger <Sarah. Rath lisberger@ci.monticello.mn.us> Subject: Northland Securities 7189 inv. 7/8/22 $1000 Sa ra h, Okay to pay the attached invoice from Northland Securities for annual TIF reporting in the amount of $1000? Thank you, pebbi e Da2V olsow Finance Clerk City of Monticello 763-271-3225 bebbie.davidson@ci.monticello.mn.us ap@ci.monticello.mn.us Email correspondence to and from the City of Monticello government offices is subject to the Minnesota Government Data Practices Act and may be disclosed to third parties. Rivertown Residential Suites Pay-as-you-go balance Payment information Payment to: Granite City Real Estate Description TIF 1-40 pay as you go 1st or 2nd 112 GL account: 213-46540-465110 District: 40.0 Original Amount: 785,000.00 Interest Rate: 5.490% Payments Commence: 811121 Ending no Later Than: 211146 Available TIF 9000% PID: 155-010-036030 State assessed fee 00036 Increment Total Balance Date Received Principal Interest Payment Remaining 8/1/2021 6,514.85 5,863.37 5.863 37 785,000.00 1/1/2022 6,51486 5,863.37 5,863.37 785.000 00 8/1/2022 24,779.40 753.21 21,548.25 22,301.46 784,246.79 1/1/2023 0 00 0.00 784.246.79 Landmark Square Phase ! ray -as -you -go owance Payment information' Payment to: Laxmi Hotel Inc (formerly Master's Fifth Avenue) Description: TIF 1-22.5 pay as you go 1st or 2nd 112 GL Account: 213-46585-465110 District: 22.5 Original Amount: 185,000.00 Interest Rate: 8.000% Payments Commence: 811103 Ending no Later Than: 211123 Available TIF: 90.00% PID: 155.010.036130 & 155.010.036140 State assessed fee 0.0036 Increment Total Balance Date Received Principal Interest Payment Remaining 8/1/2003 0.00 185, 000.00 1/1/2004 0.00 185,000.00 8/1/2004 3,085.00 3,085.00 185,000.00 1/1/2005 3,084.00 3,084.00 185,000.00 8/1/2005 6,393.00 6,393.00 185,000.00 1/1/2006 6,393.00 6,393.00 185,000.00 8/1/2006 6,830.00 6,830.00 185,000.00 1/11/2007 6,830.00 6,830.00 185,000.00 8/1/2007 90.00 7,400.00 7,490.00 184,910.00 1/28/2008 94.00 7,396.00 7,490.00 184,816.00 8/1/2008 5,106.00 5,106.00 184,816.00 1/9/2009 6,332.00 5.698.80 5,698.80 184,816.00 8/1/2009 6,304.90 5,674.41 5,674.41 184.816,00 1/1/2010 6,304.90 5.674.41 5,674.41 184,816.00 8/1/2010 6,266.02 5,639.42 5,639.42 184,816.00 1/1/2011 6,266.02 5,639.42 5,639.42 184,816.00 8/1/2011 5,668.11 5,101.30 5,101.30 184,816.04 1/1/2012 5,668.11 5,101.30 5,101.30 184,816.00 8/1/2012 5,835.67 5,252,10 5,252.10 184,816,00 1/1/2013 5,835.67 5,252.10 5,252.10 184,816.00 8/1/2013 5,617.76 5,055.98 5,055.98 184,816.00 1/1/2014 5,617.76 5,055.98 5,055.98 184,816.00 8/1/2014 5,978.58 5,380.72 5,380.72 184,816.00 111/2015 5,97858 5,380.72 5,380.72 184,816.00 8/1/2015 4,899.75 4,409.78 4,409,78 184,816.00 1/1/2016 4,899.75 4,409.78 4,409.78 184,816.00 8/1/2016 4,962.46 4,466.21 4,466.21 184,816.00 1/1/2017 4,962.46 4,466.21 4,466.21 184,816.00 8/1/2017 4,817.10 4,335.39 4,335.39 184,816.00 1/1/2018 4,817.10 4,335.39 4,335.39 184,816.00 8/1/2018 5,014.49 4,513.04 4,513.04 184,816.00 1/1/2019 5,014.49 4,513.04 4,513.04 184,816.00 8/1/2019 5,70572 5135.15 5,135.15 184,816.00 1/1/2020 5.70572 5,135.15 5,135.15 184,816.00 8/1/2020 6,279.25 5,651.32 5,651.32 184,816.00 1/1/2021 6279.25 5,651.32 5,651.32 184,816.00 8/1/2021 6,659.27 5,993.34 5,99334 184,816 00 1!112022 6,659.27 5,993.34 5,99334 184,81600 8/1/2022 6,886.49 6,197.84 6,197.84 184,816.00 1/1/2023 6,886.49 6,197.84 6,197.84 184,816.00 Accounts Payable Transactions by Account CITY F User: Debbie.Davidson onti effo Printed: 07/20/2022 - 10:46AM Batch: 00201.07.2022 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-432200 US BANK CORPORATE PMT SYS UPS - Pkg to Land Title 07/15/2022 0 12.00 Vendor Subtotal for Dept:46301 12.00 213-46301-433100 US BANK CORPORATE PMT SYS Kwik Trip - Equinox - Unleaded Fuel 07/15/2022 0 64.56 Vendor Subtotal for Dept:46301 64.56 213-46301-434990 US BANK CORPORATE PMT SYS Manufacturing Alliance - CET Grant � 07/15/2022 0 2,000.00 Vendor Subtotal for Dept:46301 2,000.00 213-46301-438200 CITY OF MONTICELLO 7256-004 - 130 Brdwy- Stormwtr 07/15/2022 0 26.25 213-46301-438200 CITY OF MONTICELLO 7256-007 - 103 Pine St- EDA 07/15/2022 0 45.50 213-46301-438200 CITY OF MONTICELLO 7256-008 - 112 River St. W EDA 07/15/2022 0 45.50 213-46301-438200 CITY OF MONTICELLO 7256-013- 113 Broadway EDA 41% 5, 07/15/2022 0 32.49 213-46301-438200 CITY OF MONTICELLO 7256-014 121 Broadway EDA 07/15/2022 0 45.50 Vendor Subtotal for Dept:46301 195.24 213-46301-443300 US BANK CORPORATE PMT SYS CMMA - CET Grant Advertising 07/15/2022 0 2,100.00 Vendor Subtotal for Dept:46301 2,100.00 AP -Transactions by Account (07/20/2022 - 10:46 AM) Page 1 Account Number 213-46301-443990 Vendor Description GL Date Check No US BANK CORPORATE PMT SYS Monticello Chamber - May Lunch (JT 07/15/2022 Vendor Subtotal for Dept:46301 Subtotal for Fund: 213 Report Total: Amount PO No 15.00 15.00 4,386.80 4,386.80 AP -Transactions by Account (07/20/2022 - 10:46 AM) Page 2 Vendor Date of Transaction (j1 h.a('�- CITY OF MONTICELLO City Hall Card Transaction Please attach the invoice/receipt and any other available documentation to this form. To be completed by purchaser: Amount $ ;r� Circle purchaser name: Tracy Ergen cylcki Leerhoff Rachel a and Sarah Rathlisberger Jennifer Schreiber Angela Schumann Jim Thares Beth Green Liz Lindrud Haley Foster Trevor Mack Hayden Stensgard Dee Yanta JC Westphal mployee Signature isor Signature / 0710511,20 Date approved Special Project # or Description Circle department code: 101-41110 101-41310 101-41410 1.01-41520 101-41800 101-41910 101-41940 213-46500 213-46301 702-00000 City Council Administration City Clerk/Elections Finance Human Resources Planning and Zoning City Hall Economic Development H RA Central IT Circle expense code: 421990 General Operating Supplies 431950 Newsletter Services 431990 Miscellaneous Prof Services P41A-r�, - 2?0() Postage 433100 Travel/Training Expense 443300 Dues Membership & Subscrip z 443700 Licenses and Permits 443990 Misc. Other Expense Other Vicki Leerhoff From: no-reply@ups.com Sent: Tuesday, June 14, 2022 12:01 PM To: Vicki Leerhoff Subject: UPS Label Delivery [1Z75PJ4TA800023218] Thankyou forshippingwith us! Here's asummaryofyourshipment. Link to your shipping labels below. Get Shipping Label Ship From: City of Monticello Cityof Monticello 505 Walnut Street MONTICELLO MN 55362 United States Ship To: Mark Haagensen Land Title Inc. 2200 County Road C West ROSEVILLE MN 55113 United States Lead Tracking Number: Ship Date: Pickup Record Number: UPS Service: Shipping Cost: 1 Z75 PJ4TA800023218 June14,2022 2945KKPEODE URS Grou nd $32.15 ✓ NOTE: Rate includes a fuel Surcharge, but excludes taxes, duties and othercharges that may apply to the shipment. 1 Vendor j r" Date of Transaction 6LO�o0 CITY OF MONTICELLO City Hall Card Transaction Please attach the invoice/receipt and any other available documentation to this form. To be completed bypurchaser:purchaa�ser: Amount $ 6 / 5 C� Circle purchaser name: Tracy Ergen Vicki Leerhoff Rachel Leonard Sarah Rathlisberger Jennifer Schreiber Angela Schumann Jim Thares Beth Green Liz Lindrud Haley Foster Trevor Mack ay en Stens ar Dee Yanta IC WPctnhal Special Project # or Description Circle department code: 101-41110 101-41310 101-41410 101-41520 101-41800 101-41910 101-41940 213-46500 213-46301 702-00000 Circle expense code: 421990 431950 431990 432200 433100 443300 443700 443990 Other City Council Administration City Clerk/Elections Finance Human Resources Planning and Zoning City Hall Economic Development HRA Central IT General Operating Supplies Newsletter Services Miscellaneous Prof Services Postage Travel/Training Expense Dues Membership & Subscrip Licenses and Permits Misc. Other Expense Kwik Trip 9440 State Hwy 25 Monticello MN 5°362 (763) 295-8857 -------------------- Store #: 345 Ticket: 7193469 Date: 6/16/2022 Time: 3:33:37 PM OXY87 Pump Number 62 Gallons 13.453 Price/Gal $4.799 Total Fuel $64.56 Total Sale $64.56 Visa Purcha $64.56 All Taxes Included In Fuel Price. TID: RA1094000345106 Appr: 074049 Visa Purchasing XXXXXXXXXXXX3471 Chip Read Capture USD$ 64.56 VISA CREDIT Mode: Issuer AID: A000000003101061 TUR: 0080065006 IAD: XXXXXXXXXXXXXX TSI: E800 ARC: 00 ARQC: 0589DEB1A34159C4 06/16/2022 15:31:25 I agree to pay the Above Total Amount according to Card Issuer A reemen . s ----------------- Vendor iN%Jl ♦ oUVt td.., Date of Transaction Q �%01L- CITY OF MONTICELLO City Hall Card Transaction Please attach the invoice/receipt and any other available documentation to this form. To be completed by purchaser: Amount $ D Circle purchaser name: Circle department code: Tracy Ergen Vicki Leerhoff 101- City Council Rachel Leonard Administration Sarah Rathlisberger 1-41410 City Clerk/Elections Jennifer Schreiber 101-41520 Finance Angela Schumann 101-41500 Human Resources Jim Thares 101-41910 Planning and Zoning Beth Green 101-41940 City Hall Liz Lindr 21 - 650 213-46301 Economic Development Haley Foster HRA Trevor ac 702-00000 Central IT Hayden Stensgard Dee Yanta JC Westphal Circle expense code: 421990 General Operating Supplies Employee Signatur 431950 Newsletter Services 431990 Miscellaneous Prof Services 432200 Postage Supvisor Signature 433100 Travel/Training Expense 6 443300 Dues Membership & Subscrip Date approved 443700 Licenses and Permits 443990 Misc. Other Expense Special Project # or Description E;Oft Other ►s. intuit quickbooks. Payment receipt You paid $2,,000.00 to Manufacturers Alliance on June 14, 2022 Invoice no. 58192 Invoice amount $2,000.00 Total $2,000.00 Payment method VISA****02 3 3 Authorization ID MS0097820222 Thank you Manufacturers Alliance Manufacturers Alliance 17635338239 www.mfrall.com I accounting@mfrall.com 8421 Wayzata Blvd Ste 150, Golden Valley, MN 55426 Payment services brought by: Intuit Payments Inc. 2700 Coast Avenue, Mountain View, CA 94043 Phone number 1-888-536-4801 NMLS For more information about intuit Payments' money transmission licenses, please visit https://www.in tuit.comlleaal/licenses/,oavment licenses , Manufacturers Alliance 8421 Wayzata Blvd Ste 150 Golden Valley, MN 55426 accounting@m€rall.com BILL TO Invoice 58192 AA AM& Manufacturers Alliance 'rov ding Ira n,ng Fs uc al,ic» r en to r -F ., City of Monticello DATE PLEASE PAY DUE DATE 06/14/2022 $2,000.00 07/14/2022 DATE ACTIVITY QTY RATE AMOUNT Promotional Sponsorship 1 2,000.00 2,000.00 1 Webinar Ad 1 Webinar Ad 1 Webinar Ad 1 Podcast Ad 1 Podcast Ad 1 BONUS Podcast Guest Episode 1 Service Company Membership For your convenience we accept Visa, American Express, Mastercard and Discover. TOTAL DUE www.mfrall.com 111763-533-8239 Ill accounting@mfralf.com $2,000.00 THANK YOU. Debbie Davidson From: Sent: To: Subject: Attachments: City of Monticello, MN 505 Walnut St, Ste 1 Monticello, MN 55362 763.271.3228 8AMto4:30PM Account Information Account: Name: Service Address: Service Period: Billing Date: Due Date: Meter Reading noreply@merchanttransact.com Saturday, June 4, 2022 8:50 AM AP Your bill from City of Monticello, MN is ready. 5-1-22 Billing Insert.pdf; BACK OF BILL.pdf; 6-1-22 Billing Insert.pdf 007256-004 MONTICELLO EDA (213-46301) 130 BROADWAY E 5/1/2022 to 5/31/2022 (31 days) 6/3/2022 7/1/2022 Previous Reading Current Reading Serial Date Reading Date Reading Cons Current Charges Water: ACH CREDIT - AUTO PAY ($1.25) Water: EBILL CREDIT ($0.50) Stormwater: STORMWATER / NON-RESIDENTIAL $28.00 Total Current Charges: $26.25 Bill Summary Previous Balance: $26.25 Payments Received: $26.25 Adjustments: $0.00 Current Charges: $26.25 * Total Amount Due by: 7/1/2022 $26.25 * This was the amount due at the time of billing. To view your amount due at the current time and make a payment click here. Auto payment is setup for this customer account, do not pay. 1 Debbie Davidson From: Sent: To: Subject: Attachments: City of Monticello, MN 505 Walnut St, Ste 1 Monticello, MN 55362 763.271.3228 8AMto4:30PM Account Information Account: Name: Service Address: Service Period: Billing Date: Due Date: Meter Reading Serial Current Charges noreply@merchanttransact.com Saturday, June 4, 2022 8:50 AM AP Your bill from City of Monticello, MN is ready. 5-1-22 Billing Insert.pdf; BACK OF BILL.pdf; 6-1-22 Billing Insert.pdf Previous Reading Date Reading Water: Water: CITY WATER - NON-TAXABLE Water: ACH CREDIT - AUTO PAY Water: EBILL CREDIT Water: WATER - STATE CONNECTION FEE Sewer: SEWER - COMMERCIAL Stormwater: STORMWATER / NON-RESIDENTIAL Total Current Charges: Bill Summary Previous Balance: Payments Received: Adjustments: Current Charges: * Total Amount Due by: 7/1/2022 * This was the amount due at the time of billing. 007256-007 MONTICELLO EDA (213-46301) 103 PINE ST 5/1/2022 to 5/31/2022 (31 days) 6/3/2022 7/1/2022 Current Reading Date Reading To view your amount due at the current time and make a payment click here. Auto payment is setup for this customer account, do not pay. 1 Cons $0.00 $8.04 ($1.25) ($0.50) $0.81 $10.40 $28.00 $45.50 $45.50 $45.50 $0.00 $45.50 $45.50 Debbie Davidson From: Sent: To: Subject: Attachments: City of Monticello, MN 505 Walnut St, Ste 1 Monticello, MN 55362 763.271.3228 8AMto4:30PM Account Information Account: Name: Service Address: Service Period: Billing Date: Due Date: Meter Reading noreply@merchanttransact.com Saturday, June 4, 2022 8:50 AM AP Your bill from City of Monticello, MN is ready. 5-1-22 Billing Insert.pdf; BACK OF BILL.pdf; 6-1-22 Billing Insert.pdf Previous Reading Serial Date Reading 68621907 5/1/2022 43917 Current Charges Water: Water: CITY WATER - NON-TAXABLE Consumption Water: CITY WATER - NON-TAXABLE Water: ACH CREDIT - AUTO PAY Water: EBILL CREDIT Water: WATER - STATE CONNECTION FEE Sewer: SEWER - COMMERCIAL Consumption Sewer: SEWER - COMMERCIAL Stormwater: STORMWATER / NON-RESIDENTIAL Total Current Charges: Bill Summary Previous Balance: Payments Received: Adjustments: Current Charges: * Total Amount Due by: 7/1/2022 * This was the amount due at the time of billing. 007256-008 MONTICELLO EDA (213-46301) 112 RIVER ST W 5/1/2022 to 5/31/2022 (31 days) 6/3/2022 7/1/2022 Current Reading Date Reading Cons 6/1/2022 43930 13 $0.00 $0.00 $8.04 ($1.25) ($0.50) $0.81 $0.00 $10.40 $28.00 $45.50 $45.50 $45.50 $0.00 $45.50 $45.50 To view your amount due at the current time and make a payment click here. I Auto payment is setup for this customer account, do not pay. Debbie Davidson From: Sent: To: Subject: Attachments: City of Monticello, MN 505 Walnut St, Ste 1 Monticello, MN 55362 763.271.3228 8 AM to 4:30 PM Account Information Account: Name: Service Address: Service Period: Billing Date: Due Date: Meter Reading noreply@merchanttransact.com Saturday, June 4, 2022 8:50 AM AP Your bill from City of Monticello, MN is ready. 5-1-22 Billing Insert.pdf; BACK OF BILL.pdf; 6-1-22 Billing Insert.pdf Previous Reading Serial Date Reading 33446581 5/1/2022 354552 Current Charges Water: Water: WATER - STATE CONNECTION FEE Water: CITY WATER - NON-TAXABLE Water: ACH CREDIT - AUTO PAY Water: EBILL CREDIT Sewer: SEWER - COMMERCIAL Stormwater: STORMWATER / NON-RESIDENTIAL Total Current Charges: Bill Summary Previous Balance: Payments Received: Adjustments: Current Charges: * Total Amount Due by: 7/1/2022 * This was the amount due at the time of billing. 007256-013 MONTICELLO EDA (213-46301) 113 BROADWAY W 5/1/2022 to 5/31/2022 (31 days) 6/3/2022 7/1/2022 Current Reading Date Reading Cons 6/1/2022 354552 0 To view your amount due at the current time and make a payment click here Auto payment is setup for this customer account, do not pay. 1 $0.00 $0.81 $8.04 ($1.25) ($0.50) $10.40 $28.00 $45.50 $45.50 $45.50 $0.00 $45.50 EDA $32.49 $45.50 AR $13.01 59% AR 5/1-15/22 41% EDA 5/1-15 100% EDA 5/16-30 From: Liz Lindrud To: Debbie Davidson; Cheri Butler Subject: Preferred Title Invoice Correction Date: Wednesday, July 13, 2022 3:02:22 PM These should be the correct amounts to bill Preferred Title. Cheri, if you can let Preferred Title know to disregard the invoice we just sent and then we can create a new one for the amounts highlighted below. UB: $45.50/31 days = $1.47 per day. $1.47 x 15 days = $22.05 59% of $22.05 = $13.01 Xcel: $251/32 days = $7.84 $7.84 x 13 days = $101.92 59% of 101.92 = $60.13 Thanks! Liz Lindrud Finance Manager City of Monticello, MN Tel: 763-271-3211 Fax: 763-295-4404 NOTE: The contents of this E-mail may contain information that is legally privileged and/or confidential to the named recipient. This information is not to be used by any other person and/or organization. The views expressed in this document do not necessarily reflect those of the City of Monticello. Email correspondence to and from City of Monticello government offices is subject to the Minnesota Government Data Practices and may be disclosed to third parties. Debbie Davidson From: Sent: To: Subject: Attachments: City of Monticello, MN 505 Walnut St, Ste 1 Monticello, MN 55362 763.271.3228 8AMto4:30PM Account Information Account: Name: Service Address: Service Period: Billing Date: Due Date: Meter Reading noreply@merchanttransact.com Saturday, June 4, 2022 8:51 AM AP Your bill from City of Monticello, MN is ready. 5-1-22 Billing Insert.pdf; BACK OF BILL.pdf; 6-1-22 Billing Insert.pdf Previous Reading Serial Date Reading 38576653 5/1/2022 379984 Current Charges Water: Water: WATER - STATE CONNECTION FEE Water: CITY WATER - NON-TAXABLE Consumption Water: CITY WATER - NON-TAXABLE Water: ACH CREDIT - AUTO PAY Water: EBILL CREDIT Sewer: SEWER - COMMERCIAL Consumption Sewer: SEWER - COMMERCIAL Stormwater: STORMWATER / NON-RESIDENTIAL Total Current Charges: Bill Summary Previous Balance: Payments Received: Adjustments: Current Charges: * Total Amount Due by: 7/1/2022 * This was the amount due at the time of billing. 007256-014 MONTICELLO EDA (213-46301) 121 BROADWAY W 5/1/2022 to 5/31/2022 (31 days) 6/3/2022 7/1/2022 Current Reading Date Reading Cons 6/1/2022 380732 748 $0.00 $0.81 $0.00 $8.04 ($1.25) ($0.50) $0.00 $10.40 $28.00 $45.50 $45.50 $45.50 $0.00 $45.50 $45.50 To view your amount due at the current time and make a payment click here. I Auto payment is setup for this customer account, do not pay. vendor C,MM Date offransaction CITY OF MONTICELLO City Hall Card Transaction Please attach the invoice/receipt and any other available documentation to this form. To be Completed by purchaser: Amount $ 4 q' 1 Circle purchaser name: Tracy Ergen Vicki Leerhoff Rachel Leonard Sarah Rathlisberger Jennifer Schreiber Angela Schumann Jim Thares Beth Green Liz Lindrud Haley Foster Trevor Mack Hayden Stensgard Dee Yanta JC Westphal Circle department code: 101-41110 101-41410 101-41520 101-41800 101-41910 101-41940 2 213-463 1 70 - 000 ',ircle expense code: 21990 31950 31990 32200 33100 43300 43700 43990 Special Project # or Description UL TL � Other -- t+3L f 95 0 City Council Administration City Clerk/Elections Finance Human Resources Planning and Zoning City Hall Economic Development HRA Central IT General Operating Supplies Newsletter Services Miscellaneous Prof Services Postage Travel/Training Expense Dues Membership & Subscrip Licenses and Permits Misc. Other Expense Haley Foster From: Sent: Subject: Info@ MidwestManufacturers.com Tuesday, lune 21, 2022 5:36 PM Online Payment Confirmation Your online payment request has been received by Midwest Manufacturers' Association. Payment Confirmation Name: Haley Foster Company: City of Monticello Transaction Number: ch_ 2LDFfe0aiKbG3VYlOFoRpxrW Last 4 of Acct Number: 0233 Amount: $2100.00 Description Item(s) Quantity Total Amount Credit Card Payment Invoice#16196 (City of Monticello): CMMA Membership Dues, Entry 2023 MMA Diamond Sponsorship Package, CMMA Meeting 1 $2100.00 Sponsor Fee , This Email was automatically generated Midwest Manufacturers' Association PO Box 150 Elbow Lake, MN 56531 800-654-5773 Info@MidwestManufacturers.com https://midwestmanufacturers.com Grand Total: $2100.00 For questions or feedback, please contact us at: I CMMACentral Minnesota Manufacturers Assn PO Box 150, Elbow Lake, MN 56531 800.654.5773 Central Minnesota Manufacturers Association info@MidwestManufacturers.com City of Monticello Haley Foster 505 Walnut Street Suite 1 Monticello, MN 55362 PO#: _ - Description (CMMA Membership Dues 2023 MMA Diamond Sponsorship Package CMMA Meeting Sponsor fee Optional Invoice Invoice Date: 6/21/2022 Invoice 16196 Number: Due Date 6/21/2022 Quantity Rate F_ Amount $350.00 -- $350.00 I I $1,500.00 X1,500.00 1 $250.00 F___$25_0.0_0 Subtotal:-- $2,100.00 -- - Optional Fee: Total with Optional Fee, , $2,100.00 Payment/Credit Applied:— $0.00 Balance: F__$2_'100.00___ Your renewal month for membership in CMMA is: -not set-. The number of FTE's on record for your company is: 100. If incorrect, make an adjustment to amount due using the chart below. Thank you for your continued investment in CMMA1 ?CMMA Membership Dues Structure No. or Employees (FTE) l 10 I Manufacturer $250 Non -Manufacturer �— $275 11-50 I $400 5440 51-]00 $550 - $605 101 or more $700 $770 Sole Proprietor Year I Intro 1 $ l50 $165 Government Entity Educational Institution F NA I+FA $350 $300 Member Name: City of Monticello Payment Amount: $ #FTE's Make checks payable to CMMA, PO Box 150, Elbow Lake, MN, 56531. To pay with credit card, use online link, call 800.654.5773 OR mail this form. Thank you! Credit Card #: Exp. Date: Name as it appears on card: Security Code: Invoice 16196 Vendor Date of (_0�elo� Transaacc tion CITY OF MONTICELLO Ghost Card Transaction Please attach the invoice/ receipt and any other available documentation to this form. To be completed by purchaser: Expense Cadet Monticello Chamber of Commerce and Industry 205 Pine Street PQ Box 192 Monticello, MN 55362 (763) 295-2700 1 fax: (763) 295-2705 info@monticellocci.com Monticello City of Accounts Payable 505 Walnut Street Suite #1 Monticello. MN 55362 Description 2022 Chamber Lunch - 5-17-2022 River City Extreme' Chamber Lunch, Member (Jim Thares) I11 OME Invoice Invoice Date: 6/14/2022 Invoice Number: 8166 Account ID: Terms Due Date Net 15 6129/2022 Quantity Rate Amount 1 $15 00 $1500 Subtotal: $15.00 Tax: $0.00 Total: $15.00 Payment/Credit Applied: $0.00 Balance: $15.00 Julie Cheney From: Jim Thares Sent: Tuesday, June 14, 2022 3:46 PM To: Julie Cheney Subject: RE: Invoice from Monticello Chamber of Commerce and Industry Julie, this is okay to pay. From: Julie Cheney <Julie.Cheney@ci.monticello.m n.us> Sent: Tuesday, June 14, 2022 3:14 PM To: Jim Thares<Jim.Thares@ci.monticello.mn.us> Subject: FW: Invoice from Monticello Chamber of Commerce and Industry Hi Jim Please see the attached invoice from the Chamber for the luncheon you attended in May. Okay to pay $15.00? Thanks Julie From: Marcy Anderson <marcy@monticellocci.com> Sent: Tuesday, June 14, 2022 3:12 PM To: AP <AP@ci.monticello.mn.us> Subject: Invoice from Monticello Chamber of Commerce and industry Dear Jim Your invoice for the May 17th, 2022 luncheon is attached. Thank you for supporting our Chamber. Please remit payment at your earliest convenience. You will find a link at the bottom of this email to pay bills online. If your cancellation came in after the deadline, you will have to pay for the meal as we had already ordered it with our caterer. If you have any questions, please let me know. Thank you for your continued support. Sincerely, Monticello Chamber of Commerce and Industry (763) 295-2700 To view/pay IoNs online, please click here This email was sent on behalf of Monticello Chamber of Commerce and Industry 205 Pine Street Mont;cello, MN 551162 To unsubscribe click here If you have questions or comments concerning this email or services in general. please contact us by email at info, ma^ticOmci.coE- Julie Cheney From: Auto -Receipt <noreply@mail.authorize.net> Sent: Tuesday, June 28, 2022 2:12 PM To: AP Subject: Transaction Receipt from Monticello Chamber of Commerce & Industry for $15.00 (USD) Description: Payment for Invoice 68166 (Monticello City of) : 2022 Chamber Lunch - 5-17-2022 River City Extreme: Chamber Lunch, Member (Jim Thares) $15.00{Class: ) Invoice Number 9439641 Billing Information Shipping Information Julie Cheney Monticello City of 505 Walnut Street Suite 1 Monticello, MN 55362 u5 ap@ci.monticello.mn.us 763-271-3205 Date/Time: 28 -Jun -2022 12:12:25 PDT Transaction ID: 63788911091 Payment Method: Visa xxxx8769 Transaction Type: Purchase AuthCode: 055689 Monticello Chamber of Commerce & Industry Monticello, MN 55362 Us marcy@monticellocci.com 1 Total: $15.00 (USD) Julie Cheney From: info@monticellocci.com Sent: Tuesday, June 28, 2022 212 PM Subject: Online Payment Confirmation Your online payment request has been received by Monticello Chamber of Commerce and Industry. Payment Confirmation Name: Julie Cheney Company: Monticello City of Transaction Number: 63788911091 Last 4 of Acct Number: 8769 Amount: $15.00 Description Items) Quantity Total Amount Payment for Invoice #8166 2022 Chamber Lunch - 5-17-2022 River City Extreme - (Monticello $15 00 (Monticello City of) Chamber Lunch. Member (Jim Thares) $15.00(Class: } Grand Total: $15.00 This Email was automatically generated. For questions or feedback, please contact us at: Monticello Chamber of Commerce and Industry 205 Pine Street PO Box 192 Monticello, MN 55362 (763) 295-2700 info@ monticellocci.com http://www.monticellocci,com Accounts Payable Transactions by Account CITY F � User: Printed: 08/02/2022 - 11:1 3AM onti effo Batch: 00215.07.2022 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-438100 CENTERPOINT ENERGY 6402832805-8 - 113 Broadway W (1/2 07/31/2022 0 41.42 213-46301-438100 CENTERPOINT ENERGY 11688591-4 - 121 Broadway W 07/31/2022 0 29.27 Vendor Subtotal for Dept:46301 70.69 213-46301-438100 XCEL ENERGY 51-13295413-8 - 103 Pine St 07/31/2022 0 56.51 213-46301-438100 XCEL ENERGY 51-13295413-8 - 113 W. Broadway El 07/31/2022 0 190.88 213-46301-438100 XCEL ENERGY 51-13295413-8 - 121 W. Broadway -E 07/31/2022 0 28.59 Vendor Subtotal for Dept:46301 275.98 213-46301-443990 DEMVI LLC Parking Lot Maintenance - July 2022 07/31/2022 0 213.86 Vendor Subtotal for Dept:46301 213.86 Subtotal for Fund: 213 560.53 Report Total: 560.53 AP -Transactions by Account (08/02/2022 - 11:13 AM) Page 1 rerPor. ;n Energy CenterPoi ntEnergy.com Gas leak or emergency Leave immediately, then call 800-296-9815, 24 hours a day How to pay your bill Online Visit: CenterPointEnergy.com/paybill Pay immediately, schedule a payment or set up automatic monthly payments. Please keep this portion for your records CenterPotnt® Energy MONTICELLO EDA ATTN AP. 505 WALNUT ST STE 1 MONTICELLO, MN 55362-8822 CUSTOMER MONTICELLO EDA ATTN AP. SERVICE ADDRESS 113 Broadway St W, Monticello, MN 55362-9352 Customer service 612-321-4939 or 800-245-2377 Monday - Friday, 7 am - 7 pm Page 1 of 4 ACCOUNT NUMBER 6402832805-8 AUTOPAY DATE Jun 07, 2022 BILLING DATE AMOUNT DUE $ 254.17 May 10, 2022 Call before you dig Comments Call 811 PO Box 1144 24 hours a day Minneapolis, MN 55440-1144 The cost of gas line item reflects higher commodity prices due to increases in the market price of natural gas, and the price we pay for natural gas is the same price we charge our customers - with no markup. We expect the higher commodity costs through at least the summer months. However, changes in usage will affect the total amount billed from month to month. ACCOUNT SUMMARY Previous gas amount due Payment May 9, 2022 Thank you! $ 310.35 -310.35 Current gas charges (Details on page 2) +254.17 DO NOT PAY - Total amount due to be drafted $ 254.17 For energy saving tips, visit CenterPointEnergy.com/BusinessEnergyTips Phone 0 Call 612-321-4939 and make a payment using your checking or savings account, or by debit or credit card. 000039791 0320161495124 000001 In person To find a payment location, visit: CenterPointEnergy.com/paybill or call 612-321-4939. Mail w To mail a payment, send to: PO Box 4671 Houston, TX 77210-4671 ACCOUNT NUMBER 6402832805-8 Has your AutoPay bank AUTOPAY DATE Jun 07, 2022 account changed? See form on back of stub. AMOUNT DUE $ 254.17 Your bill is scheduled to be paid automatically by bank draft on the due date Jun 07, 2022. Your bank draft is set up for: 007200640283280581000000254170000002541780 CenterPoint Energy CenterPoi ntEnergy.com DEFINITIONS CUSTOMER MONTICELLO EDA ATTN AP. SERVICE ADDRESS 113 Broadway St W, Monticello, MN 55362-9352 Basic Charge is a flat amount each month, regardless of the amount of gas used, to cover a portion of costs incurred even if the customer does not use gas during the billing period. Cost of Gas is the cost CenterPoint Energy pays for the gas it delivers to its customers. Delivery Charge is based on the amount of gas delivered, to cover the costs of delivering gas not covered by the Basic Charge. City Franchise Fee is a fee charged by a city to utility companies that provide natural gas, electricity or cable service. Utilities will collect the fee from individual customers and pay it to the city. Utilities receive no revenue from this fee. Gas Affordability Program (GAP) covers costs to offer a low-income customer co -pay program to reduce natural gas service disconnections. This charge is billed to all non - interruptible customers. Purchased Gas Adjustment reflects the difference between the base cost of gas established at the time of our most recent rate case and the price paid to purchase and transport the gas you used during this billing period. Therm is the heating value of gas. Your meter measures CCF (hundreds of cubic feet) which we multiply by the therm factor to determine the heating capacity of the gas you used. For a more detailed description of each of the terms used on your bill, please visit CenterPointEnergy.com/definitions or call Customer Support at 612-321-4939. ACCOUNT NUMBER 6402832805-8 BILLING DATE May 10, 2022 AUTOPAY DATE AMOUNT DUE Page 2 of 4 Jun 07, 2022 $ 254.17 Current gas charges Rate: Comllnd Firm Rate Meter Number Day Billing Period Current read date Next scheduled read date Next billing date M20131589322 29 May 6, 2022 Jun 9, 2022 Jun 10, 2022 Billing Period Current Reading - Previous Reading = Total x Therm factor = Adjusted Usage 04/07/22 - 05/06/22 9480 9286 194 1.03755 201 Therms Basic charge $ 21.00 Delivery charge 201 therms x $ 0.20580 41.37 Decoupling adjustment 201 therms x -$ 0.00424 -0.85 Gas Affordability PRG 201 therms x $ 0.00264 0.53 Feb 2021 Weather Event 201 therms x $ 0.11526 23.17 Cost of gas' 201 therms x $ 0.71746 144.21 Interim rate adjustment 7.29 (Basic Chg + ($0.19789'therms))'12.0000% County sales tax 1.18 State sales tax 16.27 Total current charges $ 254.17 'includes a purchased gas adjustment of $0.26158 Your account, managed your way • Pay automatically. Set up AutoPay by signing and • Other services. Report a payment made at a payment Sign up at CenterPointEnergy.com/myaccount returning the form below with your check payment. It's that location, set up a payment extension and much more. View • 2417 online account access. View and/or pay your bill, easy! options from your online account or visit view usage history, sign up for account services and much • Even out the highs and lows of your monthly bills. CenterPointEnergy.com/selfservice if you'd prefer not to more. Enroll in Average Monthly Billing and spread your natural register. • Go paperless. Receive an email when your bill is ready gas costs throughout the year. • Moving? Please call us at 612-321-4939 at least two to view and pay. Get convenience, get rid of clutter. • Get bill reminders. Choose text or email, up to five weeks before you move, or complete the forms at days before your bill is due. CenterPointEnergy.com/selfservice Register any inquiry or complaint at CenterPoint Energy, 505 Nicollet Mall, PO Box 59038, Minneapolis, MN 55459-0038 Mail payments to CenterPoint Energy, PO Box 4671, Houston, TX 77210-4671 .......................................................................................................................... Late payment details/due date. Please pay your bill on time to reach our office by the due date shown at the top of your bill. Unpaid gas amounts over $10 are charged a late payment fee of 1.5% (18% annual percentage rate) or $1 minimum on the next billing date shown on your bill. Returned check charge. There will be a $10 charge for any check or AutoPay payment your bank returns to us. Notice of customer information availability. Customer information is available upon request. Call 800-245-2377. Personal checks sent for payment may be processed electronically. This means your check will not be returned by your financial institution. Any funds may be debited from your account as soon as the same day payment is received.lf you have questions concerning this process, please contact customer service at 800-245-2377. For further information, visit hftp://federaireserve.gov/pubs/checkconv/ 000002 Has your AutoPay bank account changed? To update your bank account information, please sign and date this form and return it with this month's payment, using one of your new checks. Money orders do not qualify for enrollment or updating. Your next bill will be automatically deducted from the account listed on your check. For more information or to update your banking information electronically, go to CenterPointEnergy. com/autopa y. I authorize CenterPoint Energy to automatically deduct from the checking account shown on my enclosed check all future payments for my CenterPoint Energy bills. I will notify CenterPoint Energy if I decide to cancel my use of AutoPay. CenterPoint Energy also has the right to discontinue my AutoPay enrollment. Once I enroll, I understand that any past due balances will be drafted from my account three days after my application is processed. Account holder's signature Date CenlerPoint. CUSTOMER CITY OF MONTICELLO Energy SERVICE ADDRESS CenterPointEnergy.com 121 Broadway St W, Monticello, MN 55362-9352 O 1 Gas leak or emergency Customer service Leave immediately, then call 612-321-4939 or 800245-2377 800.296-9815, 24 hours a day Monday - Friday, 7 am - 7 pm How to pay your bili Online Visit CenterPointEnergy.com/paybrll Pay immediately, schedule a payment or set up automatic monthly payments. ACCOUNT NUMBER Page 1 of 4 11688591-4 DATE DUE Jun 07, 2022 BILLING DATE AMOUNT DUE $ 321.38 May 10, 2022 O Call before you dig Comments Call 811 PO Box 1144 24 hours a day Minneapolis, MN 55440-1144 The cost of gas line item reflects higher commodity prices due to increases in the market price of natural gas: and the price we pay for natural gas is the same price we charge our customers - with no markup. We expect the higher commodity costs through at least the summer months. However. changes in usage will affect the total amount billed from month to month. Pay your next trill without lifting a finger. To enroll in AutoPay, just sign and date the back of your bill stub and return to us with a check for your payment amount It's that easy! ACCOUNT SUMMARY Previous gas amount due $ 117-50 Payment May 10, 2022 Thank you' -11750 Current gas charges (Details on page 2) +321.38 Total amount due $ 321.38 For energy saving tips, visit CenterPointEnergy.comlBusinessEnergyTips Phone Call 612-3214939 and make a payment using your checking or savings account, or by debit or credit card. Please keep this portion for your records Please velum this portion with your payment. Please de not include letters or notes Centerftint, Energy 00008520 01 AV 0,42 1 CITY OF MONTICELLO 505 WALNUT ST STE 1 MONTICELLO, MN 55362-8822 11'1111'III'111111111111111111111Jill IIIIIIII1111111gill 11111Jill 0330160654001 000001 In person To find a payment location, visit: CenterPointEnergy.com/paybv or call 612-321-4939. Enroll in AutoPay today. See form on the back of this stub. Mail Return the payment stub below. with your check or money order, using the return envelope. ACCOUNT NUMBER 11688591-4 DATE DUE Jun 07, 2622 AMOUNT DUE $ 321.38 Mile account numher on &eck and make payable to CenlarPoird Energy, P Please erler amount of your payment Ihllll'I'IIIIIII111y11111I111I1'll"'I'IIIIIIII'llll'll11111'II CENTERPOINT ENERGY PO BOX 4671 HOUSTON TX 77210-4671 0072000011,688591,48000000321,380130000321,3800 CUSTOMER CITY OF MONTICELLO SERVICE ADDRESS 121 Broadway 5t W, Monticello, MN 55362-9352 DEFINITIONS Basic Charge is a flat amount each month, regardless of the amount of gas used, to cover a portion of costs incurred even if the customer does not use gas during the billing period. Cost of Gas is the cost CenterPoint Energy pays for the gas it delivers to its customers. Delivery Charge is based on the amount of gas delivered, to cover the costs of delivering gas not covered by the Basic Charge. City franchise Fee is a fee charged by a city to utility companies that provide natural gas, electricity or cable service. Utilities will collect the fee from individual customers and pay it to the city. Utilities receive no revenue from this fee. Gas Affordability Program (GAP) covers costs to offer a low-income customer co -pay program to reduce natural gas service disconnections. This charge is billed to all non - interruptible customers. Purchased Gas Adjustment reflects the difference between the base cost of gas established at the time of our most recent rate case and the price paid to purchase and transport the gas you used during this billing period. Therm is the heating value of gas. Your meter measures CCF (hundreds of cubic feel) which we multiply by the therm factor to determine the healing capacity of the gas you used. For a more detailed description of each of the terms used on your bill, please visit CenterPointEnergy.com/definitions or call Customer Support at 612-321-4939. Current gas charges Meter Number Day Billing Period M19630001922 29 ACCOUNT NUMBER 11688591-4 BILLING DATE May 10, 2022 DATE DUE AMOUNT DUE Current read date Next scheduled read da May 6, 2022 Jun 9, 2022 Page 2 of 4 Jun 07, 2022 $ 321.38 Rate: Comlind firm Rate to Next billing date Jun 10, 2022 Billing Period Current Reading - Previous Reading = Total x Therm factor W Adjusted Usage 04107/22 - 05/06/22 1000 749 251 1.03755 260 Therms Basic charge • Pay automatically, Set up AutoPay by signing and a 4' -vi' Delivery charge 2601 therms x $ 0.20580 53.51 Decoupling adjustment 260 therms x -$ 0.00424 -1.10 Gas Affordab llty PRG 260 therms x $ 0.00264 0.69 Feb 2021 Weather Event 260 therms x $ 0.11526 29.97 Cost of gas' 260 therms x $ 0.71746 186.54 Interim rate adjustment 8.69 (Basic Chg - ($0.1978911herms))`12.0000% County sales tax 1.50 State sales tax 20-58 Total current charges $ 321.38 'includes a purchased gas adjustment of $0.26158 Your account, managed your way • Pay automatically, Set up AutoPay by signing and Sign up at CenterPofntEfergy.corn/myaccount returning the form below with your check payment. Its that • 2417 online account access. View and/or pay your bill, easy! view usage history, sign up for account services and much • Even out the highs and lows of your monthly bills. more. Enroll in Average Monthly Billing and spread your natural • Go paperless. Receive an email when your bill is ready gas costs throughout the year. to view and pay. Get convenience, get rid Of clutter. • Get bili reminders. Choose text or email, up to five days before your bill is due. • Other services. Report a payment made at a payment location, set up a payment extension and much more. View options from your online account or visit CenterPointEnergy.com/seffservice if you'd prefer not to register. • Moving? Please call us at 612-321-4939 at least two weeks before you move, or complete the forms at CenterPointEnergy.com/selfservrce Register any inquiry or complaint at CenterPoint Energy. 505 Nicollet Mall, PO Box 58038, Minneapolis, MN 55459-0038 Mail payments to CenterPoint Energy, PO Box 4671, Houston, TX 77210-4671 Late payment detailsldue date. Please pay your bill on time to reach our office by the due date show at the top of your bill. Unpaid gas amounts over $10 are charged a late payment fee of 1.5% (18% annual percentage rale) or $1 minimum on the next biting date shown on your bill. Returned check charge. There wi€t be a $10 charge for any check or AutoPay payment your bank returns to us. Notice of customer information availability. Customer information is available upon request. Call 800-245-2377, Personal checks sent for payment may be processed electronically, This means your check Oil not be returned by your finaraial Inslilutlon. Any funds may be debited from your account as soon as the same day payment is received.lf you have questions concerning this process, please contact customer service at 800-245-2377 For further information, visit http:llfederalreserve.govlpubslcheckconvl 000002 Enroll in AutoPay and your monthly payment will be automatically deducted from your bank account. To enroll, sign and date this form and return with your check payment. Money orders do not qualify for enrollment. Your next bill will be automatically deducted from the account listed on your check. For more information and to enroll electronically, go to CenterPointEnergy.com/autopay. I authorize CenterPoint Energy to automatically deduct from the checking account shown on my enclosed check all future payments for my CenterPoint Energy bills. I will notify CenterPoint Energy if I decide to cancel my use of AutoPay. CenterPoint Energy also has the right to discontinue my AutoPay enrollment. Once I enroll, I understand that any past due balances will be drafted from my account three days after my application is processed. holder's signature Xcel Energy® RESPONSIBLE BY NATURE® QUESTIONS ABOUT YOUR BILL? See our website: xcelenergy.com Email us at: Customerservice@xcelenergy.com Please Call: 1-800-481-4700 Hearing Impaired: 1-800-895-4949 Fax: 1-800-311-0050 Or write us at: XCEL ENERGY PO BOX 8 EAU CLAIRE WI 54702-0008 9.14 IT, I P9 **111 JT I IT/ F.,.VA NORTHERN STATES POWER COMPANY Page 1 of S MAILING ADDRESS ACCOUNT NUMBER CITY MONTICELLO ECONOMIC DEV AUTH 505 WALNUT ST STE 1 MONTICELLO MN 55362-8831 51-0013295413-8 ;$:392.84:; STATEMENT NUMBER STATEMENT DATE 783142117 06/08/2022 ACCOUNT BALANCE (Balance de su cuenta) Previous Balance As of 05/04 $450.93 Payment Received Auto Pay 06/06 -$450.93 CR Balance Forward $0.00 Current Charges $392.84 Amount Due (Cantidad a pagar) $392.84 PREMISES NUMBER PREMISES IDENTIFIER PREMISES DESCRIPTOR CURRENT BILL 302923602 103 PINE ST $56.51 303140734 113 W BROADWAY ST 5/3-15 @ 59% to AR = $60.13 $190.88 EDA $251.01 303409149 112 W RIVER ST $85.32 Total INFORMATION ABOUT YOUR BILL Thankyouforyourpayment. 7 XcelEnergy RETURN BOTTOM PORTION WITH YOUR PAYMENT • PLEASE DO NOT USE STAPLES, TAPE OR PAPER CLIPS ACCOUNT NUMBER I DUE DATE 51-0013295413-8 07/06/2022 $392.84 Your bill is paid through a In automated bank payment plan. ------ manifest line--------- I"I�III"�'I'�'�I'Illllll�ll�l'Il��lll�l��ll�lll'I�I'I�IIII'I��' CITY MONTICELLO ECONOMIC DEV AUTH 505 WALNUT ST STE 1 MONTICELLO MN 55362-8831 $392.84 Automated Bank Payment 1 2 3 4 5 n 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 I..I�III"�'I'�'�I'IIIIIII�II�I'II��III�I��II�III�I�I'I�IIII'I��' XCEL ENERGY P.O. BOX 9477 MPLS MN 55484-9477 32 51070622 00132954138 0000003928400000039284 O N If N 0 Xcel Energy Page 2 of 8 MAILING ADDRESS ACCOUNT NUMBER METER 3632365 - Multiplier x 40 CITY MONTICELLO ECONOMIC DEV AUTH 505 WALNUT ST STE 1 MONTICELLO MN 55362-8831 51-0013295413-8 /06/2022 ;$392.84 STATEMENT NUMBER STATEMENT DATE Demand Actual 783142117 06/08/2022 2 kW SERVICE ADDRESS: 103 PINE ST MONTICELLO, MN 55362-8564 NEXT READ DATE: 07/07/22 ELECTRICITY SERVICE DETAILS PREMISES NUMBER: 302923602 INVOICE NUMBER: 0971132189 METER READING RATE: Sm Gen Svc (Metered) METER 3632365 - Multiplier x 40 Read Dates: 05/04/22 - 06/05/22 (32 Days) DESCRIPTION CURRENT READING MEASURED BILLED PREVIOUS READING USAGE USAGE Total Energy 21454 Actual 21449 Actual 5 200 kWh Demand Actual 2.4 kW Billable Demand 2 kW ELECTRICITY CHARGES RATE: Sm Gen Svc (Metered) DESCRIPTION USAGE UNITS RATE CHARGE Basic Service Chg $10.00 Energy Charge Summer 31.25 kWh $0.092560 $2.89 Energy Charge Winter 168.75 kWh $0.077570 $13.09 Fuel Cost Charge 200 kWh $0.035800 $7.16 Sales True Up 200 kWh $0.005860 $1.17 Affordability Chrg $1.27 Resource Adjustment $4.06 Interim Rate Adj $3.51 Subtotal $43.15 City Fees $5.50 Total $48.65 OTHER RECURRING CHARGES DETAILS INVOICE NUMBER: 971132167 ADDRESS: 103 PINE ST MONTICELLO, MN 55362-8564 UNIT DESCRIPTION USAGE UNITS CHARGE QTY CHARGE Install Number 157123 05/04/22 to 06/04/22 SAVE ON HIGH -EFFICIENCY COOLING UPGRADES If your business is using an alder cooling system, it could be inefficient and expensive to maintain. When You're ready to make energy efficiency improvements, consider a high -efficiency coaling upgrade- Whether you'd like to replace a chiller, rooftop unit, or packaged terminal air -conditioner, you can earn cash back with our rebates to lower your up -front costs. Contact our energy advisors at 855-839-8862 or scan the OR Code to learn more. a Xcel Energy OTHER RECURRING CHARGES DETAILS Page 3 of S MAILING ADDRESS ACCOUNT NUMBER DESCRIPTION USAGE UNITS CITY MONTICELLO ECONOMIC DEV AUTH 505 WALNUT ST STE 1 MONTICELLO MN 55362-8831 51-0013295413-8 /06/2022 ;$392.84 STATEMENT NUMBER STATEMENT DATE Fuel Cost Charge 783142117 06/08/2022 $0.86 INVOICE NUMBER: 971132167 ADDRESS: 103 PINE ST MONTICELLO, MN 55362-8564 NON-RECURRING CHARGES/ CREDITS DETAILS DESCRIPTION Elec Combined Refund CR Premise # 302923602 Total CHARGE - $2.29 CR - $2.29 CR Premises Total $56.51 DAILY AVERAGES UNIT DESCRIPTION USAGE UNITS CHARGE QTY CHARGE 100 WATT HIPS AREA CO OWN 4.0 Auto Protective Lgt 32 kWh $7.41 1 $7.41 Fuel Cost Charge $0.88 Resource Adjustment $0.86 Interim Rate Adj $1.00 Total $10.15 NON-RECURRING CHARGES/ CREDITS DETAILS DESCRIPTION Elec Combined Refund CR Premise # 302923602 Total CHARGE - $2.29 CR - $2.29 CR Premises Total $56.51 DAILY AVERAGES Last Year Temperature 59° F Electricity kWh 4.0 Electricity Cost $1.07 INFORMATION ABOUT YOUR BILL Your bill this month includes a refund due to lower actual property tax owed by Xcel Energy for 2020, lower employee incentive compensation for 2020, and a settlement regarding nuclearfuel storage perthe M N Public Utilities Commission. Your refund appears on your bill as "Elec Combined Refund CR." For an average non -demand customer, 68% of your bill refers to power plant costs, 15% to high voltage line costs, and 17% to the cost of local wires connected to your business. For an average demand -billed customer, 78% of your total bill refers to power plant costs, 14% to high voltage lines, and 8% to the cost of local wires connected to your business. N 0 N O c9 M N M Xcel Energy DAILY AVERAGES Last Year Temperature 58° F Electricity kWh 0.0 Electricity Cost $0.00 Page 4 of 8 MAILING ADDRESS ACCOUNT NUMBER 11 1 CITY MONTICELLO ECONOMIC DEV AUTH 505 WALNUT ST STE 1 MONTICELLO MN 55362-8831 51-0013295413-8 07/06/2022 STATEMENT NUMBER STATEMENT DATE 26270 Actual 25464 Actual 806 kWh 783142117 06/08/2022 $392.84 SERVICE ADDRESS: 113 W BROADWAY ST MONTICELLO, MN 55362-9352 NEXT READ DATE: 07/07/22 ELECTRICITY SERVICE DETAILS PREMISES NUMBER: 303140734 INVOICE NUMBER: 0971121572 METER READING RATE: General Service METER 7633803 Read Dates: 05/03/22 - 06/04/22 (32 Days) DESCRIPTION CURRENT READING PREVIOUS READING USAGE Total Energy 26270 Actual 25464 Actual 806 kWh Demand Actual 10.33 kW Billable Demand 8 kW ELECTRICITY CHARGES RATE: General Service DESCRIPTION USAGE UNITS RATE CHARGE Basic Service Chg $25.64 Energy Charge 806 kWh $0.034070 $27.46 Fuel Cost Charge 806 kWh $0.034516 $27.82 Sales True Up 806 kWh $0.003640 $2.93 Demand Charge Summer 1 kW $14.790000 $14.79 Demand Charge Winter 7 kW $10.490000 $73.43 Affordability Chrg $3.60 Resource Adjustment $25.23 Interim Rate Adj $19.11 Subtotal $220.01 City Fees $31.00 Total $251.01 Premises Total $251.01 INFORMATION ABOUT YOUR BILL For an average non -demand customer, 68% of your bill refers to power plant costs, 15% to high voltage line costs, and 17% to the cost of local wires connected to your business. For an average demand -billed customer, 78% of your total bill refers to power plant costs, 14% to high voltage lines, and 8% to the cost of local wires connected to your business. ` CONTROL YOUR BILL. From synchronized billing for multiple locations to auto pay, we can help you customize your energy - bill to better Suit your needs, r i Find out more at xcelenergy.com/11+1y8i11, Iu Xcel Energy DAILY AVERAGES Last Year Temperature 59° F Electricity kWh 0.3 Electricity Cost $2.03 Page 5 of S MAILING ADDRESS ACCOUNT NUMBER METER 15062258 CITY MONTICELLO ECONOMIC DEV AUTH 505 WALNUT ST STE 1 MONTICELLO MN 55362-8831 51-0013295413-8 STATEMENT NUMBER STATEMENT DATE 783142117 06/08/2022 /06/2022 ;$392.84 Total Energy 69995 Actual 69917 Actual 78 kWh SERVICE ADDRESS: 112 W RIVER ST MONTICELLO, MN 55362-8766 NEXT READ DATE: 07/07/22 ELECTRICITY SERVICE DETAILS PREMISES NUMBER: 303409149 INVOICE NUMBER: 0971124040 METER READING RATE: General Service METER 15062258 Read Dates: 05/04/22 - 06/05/22 (32 Days) DESCRIPTION CURRENT READING PREVIOUS READING USAGE Total Energy 69995 Actual 69917 Actual 78 kWh Demand Actual 2.44 kW Billable Demand 1 kW ELECTRICITY CHARGES RATE: General Service DESCRIPTION USAGE UNITS RATE CHARGE Basic Service Chg $25.64 Energy Charge 78 kWh $0.034070 $2.66 Fuel Cost Charge 78 kWh $0.034744 $2.71 Sales True Up 78 kWh $0.003640 $0.28 Demand Charge Summer 0.16 kW $14.790000 $2.37 Demand Charge Winter 0.84 kW $10.490000 $8.81 Affordability Chrg $3.60 Resource Adjustment $5.17 Interim Rate Adj $5.34 Subtotal $56.58 City Fees $31.00 Total $87.58 NON-RECURRING CHARGES/ CREDITS DETAILS M M O N O DESCRIPTION CHARGE Elec Combined Refund CR Premise # 303409149 $2.26 CR Total - $2.26 CR Premises Total $85.32 INFORMATION ABOUT YOUR BILL Your bill this month includes a refund due to lower actual property tax owed by Xcel Energy for 2020, lower employee incentive compensation for 2020, and a settlement regarding nuclear fuel storage per the M N Public Utilities Commission. Your refund o appears on your bill as "Elec Combined Refund CR." For a In average non -demand customer, 68% of your bill refers to power plant costs, 15% to high voltage line costs, and 17% to the cost of local wires connected to your business. For a In average demand -billed customer, 78% of your total bill refers to power plant costs, 14% to high voltage lines, and 8% to the cost of local wires connected to your business. IIS 0 XcelEnergym UPGRADE Y U HEATING EQUIPMENT, EARN BONDS REBATES An inefficient heating system can cost your business thousands of dollars a year in wasted energy. Leverage our bonus rebates to help off -set your initial investment to improve your energy efficiency. Take advantage of our 35% bonus rebate Invoices must be dated April 15r 2022 to November 15, 2022, and the application must be submitted by December 1, 2022. Qualified equipment, 7t It M O O N O Bailer add-ons Boilers. Water heaters. Furnaces o • Linkageiess controls for • Replacement hot water boilers non -condensing bailers {Tankless) * Modular burners �. 5.1 turndown ratio • New hat water boilers iStorage) • 0utdoor air reset controls • Stearn boilers M • 02 trim Control m N • tck dampers M 0 Y� ,t0 B • Turhulator _ .1# Scan the 0R code far mare information ❑' rr ■ xoolenrs*9y corn It 2022 }Scel Energy Ino.1 }Scel Enerw is a r$gis#ered trademark of Wool E nergy Inc 10622ON33 0 XcelEnergym VFDs CAN HELP DRIVE SAVINGS... AND BONUS REBATES Variable frequency drives �VFDs) are used across industries to increase the efficiency of HVAC and motor -driven systems, including fans and pumps. Take advantage of our 25% bonus rebate If you're looking for ways to save money and reduce energy use, consider adding VFDs and earn rebates from $500 to 510,000 Per +unitr depending on horsepower. Learn more at xcelenergy.cornlHVACR. lr*wes mint bediated wtweenApril 15. 2422 and August 31, 2M. a' �a and applicalions mu*rt ba suhirnitled by Qvc*mbgr 2. 2033. i xrelenwgy corn It 2022 Xcel Enerw loc. I Xcel Enerw is a u4stored trademark of KC*I Energy Inc 106220"34 From: Liz Lindrud To: Debbie Davidson; Cheri Butler Subject: Preferred Title Invoice Correction Date: Wednesday, July 13, 2022 3:02:22 PM These should be the correct amounts to bill Preferred Title. Cheri, if you can let Preferred Title know to disregard the invoice we just sent and then we can create a new one for the amounts highlighted below. UB: $45.50/31 days = $1.47 per day. $1.47 x 15 days = $22.05 59% of $22.05 = $13.01 Xcel: $251/32 days = $7.84 $7.84 x 13 days = $101.92 59% of 101.92 = $60.13 Thanks! Liz Lindrud Finance Manager City of Monticello, MN Tel: 763-271-3211 Fax: 763-295-4404 NOTE: The contents of this E-mail may contain information that is legally privileged and/or confidential to the named recipient. This information is not to be used by any other person and/or organization. The views expressed in this document do not necessarily reflect those of the City of Monticello. Email correspondence to and from City of Monticello government offices is subject to the Minnesota Government Data Practices and may be disclosed to third parties. Ibb—Payment Receipt Bullseye Property Management Bunseye & Realty Property Management 35 Lake Street S, Suite 500 Realty •Leasing •Sales Big Lake, MN 55309(763) 295-6566 Account No. 405914 Broadway Parking Easement - COMMERCIAL - 2 Received from: City of Monticello Economic Development Authority 505 Walnut Street Suite 1 Monticello, MN 55362 Memo by City of Monticello Economic Development Authority Date Amount Received 6/25/2022 $213.86 Payment Method EFT Generated 06/28/2022 13:43:31 Page 1 of 1 EDA: 08/10/22 4c. Consideration of approving a CY 2023 Contribution to the Initiative Foundation's Community and Economic Development Programs in the amount of $2,390 (JT) A. REFERENCE AND BACKGROUND: The EDA is asked to consider a funding contribution to the Initiative Foundation (IF) for its annual fundraising campaign. The IF is seeking contributions that will be applicable to and payable in calendar year 2023. The amount of the 2023 request is $2,390.00, the same as the previous three years. The IF works with cities to support community development and economic vibrancy. The IF programs consist of a variety of loan and grant funds for community and economic development activities. As you will note in the funding request, the IF's grant funding contributions to communities and organizations in Wright County during the past several years has amounted to $3,639,889. Loans provided to Wright County businesses, in a similar time frame total $5,343,429. Those loan dollars have helped create or retain 1,227 quality jobs. It should also be noted for every local dollar contributed to the IF's fundraising efforts, they are in turn able to invest an average of $3.98 back into the communities they serve in the form of loans, grants, and scholarships. B. ALTERNATIVE ACTIONS: 1. Motion to approve a CY 2023 contribution to the Initiative Foundation's community and economic development programs efforts in the amount of $2,390. 3. Motion to table consideration of a CY 2023 contribution to the Initiative Foundation's community and economic development programs efforts in the amount of $2,390. C. STAFF RECOMMENDATION: Staff recommends Alternative 1. The IF grant and loan programs are helpful assistance sources that often serve as a source of last resort for businesses seeking funding as well as organizations pursuing community enhancement and sustainability objectives. In recent years, a couple of local businesses have benefitted from the IF loan programs as they sought to expand and/or pursue a development project which generated new jobs as well. D. SUPPORTING DATA: a. Initiative Foundation Letter dated 06-05-22 (320) 632-9255 405 First Street SE Little Falls, MN 56345 June 5, 2022 Rachel Leonard, City Administrator City of Monticello 505 Walnut St Ste 1 Monticello, MN 55362-8822 Dear Mayor Hilgart, City Council and Ms. Leonard, ifound.org For 36 years, the Initiative Foundation has focused on building strong local economies, vibrant communities, and a lasting culture of generosity in Central Minnesota. Our grant -making, lending, and programmatic activities support for-profit and nonprofit business growth, empower new entrepreneurs, address workforce shortages, and increase access to quality childcare for the region's workforce. In Wright County, we have provided a total of $3,639,889 in grants to support nonprofit organizations and local government projects, as well as $5,343,429 in business loans to secure 1,227 quality jobs. The Foundation's community and economic development services continue to provide essential resources and supports for local cities, and across Central Minnesota. Alongside our economic and community development work, we continue to support the region's recovery from the COVID-19 pandemic, responding to ongoing and emerging needs. In 2021, the Foundation secured and then invested into Central Minnesota $12,600,000 in emergency relief and recovery funds, supporting businesses, nonprofits, childcare providers, and local communities. This funding was sourced from organizations outside of Central Minnesota, and through partnerships with the Minnesota Department of Employment and Economic Development and the Minnesota Department of Education. Much of relief and recovery funding secured in 2021 will continue to be deployed throughout 2022. Financial contributions from cities and counties increase our capacity to support economic and community development projects. Local contributions also position us to leverage additional resources from sources outside Central Minnesota, generating a substantial return on the investment. For every dollar we raise locally, we reinvest an average of $3.98 back to the communities we serve in the form of grants, loans, and scholarships. We respectfully request that you consider allocating $2,390 to the Initiative Foundation in your 2023 budget. Please contact us if you have any questions or to request a presentation. We sincerely appreciate your past investment and look forward to your continued support in 2023. We can present in person or facilitate an online option. If possible, after your budget for 2023 is finalized, please let us know your decision by signing and returning the enclosed confirmation form. Thank you for your consideration! All the best, AXW Matt` 0CL--tJ Varilek Carl Newbanks President Grants and Development Manager The Initiative Foundation is a'501c(3) nonprofit organization. All contributions to the Foundation are tax-deductible to the extent allowed by law. The Foundation owns and manages all financial contributions for the benefit of communities served in the 14 -county region of Central Minnesota. 13 Powering Possible Equal opportunity tender, provider and employer Cour Mission: To empower people throughout Central Minnesota to build a thriving economy, vibrant communities and a lasting culture of generosity. 405 First Street SE Little Fa[ls, MN 56345 (877) 632-9255 ifound.org 0 Powering Possible Initiative Foundation at work in WRIGHT COUNTY $?'jft3241513 in local donations to the Initiative Foundation. $9.6 MILLION returned to Wright County in grants and loans. Return on Investment For every local dollar contributed, the Initiative Foundation has invested $11.52 back into Wright County. Economic Impact [1986 to present] - Delivered 432 grants totaling $3.6 million - Partnered on 79 loans totaling $5.3 million - Created or retained 1,227 quality jobs - Leveraged $39 million in outside capital - Hosted 6 Partner Funds Equal. opportunity lender, provider and emp(over WRIGHT C Highlight For a full listing of Initiatiue Foundation inuestments in Wright County, Contact us at (877) 632-9255. Grants Thriving Economy, Thriving Communities True Friends Rivers of Hope Wright County Economic Development Partnership Kid's Haven, LLC* A to Z Children's Academy* Cafe Jules. LLC** The Travel Gallery, Inc.** Huikko's Bowling Center, Inc.** Support to Identify Project Funding Potential Capacity Building for Victim and Survivor Financial Empowerment Workforce Pathways Reboot Essential Worker & Child Care Relief Essential Worker & Child Care Relief Small Business Relief Grant Small Business Relief Grant Small Business Relief Grant * Indicates Minnesota Department of Education grant administered by the Initiative Foundation. ** Indicates Minnesota Department of Employment and Economic Development grant administered by the Initiative Foundation. Business Financing Local Ownership, Quality Jobs Sota Car Wash LLC and RRG Holdings, Monticello Service Charitable Funds Activating Generosity Delano Area Community Foundation I Delano Area Emergency Fund I Dorn Family Fund I Minnesota Pioneer Park Endowment Fund I Wright County Historical Society Fund 1 Childcare & Early Childhood Education Fund Nonprofit Assistance Helping Organizations Thrive Rivers of Hope Executive Roundtable Wright County Community Action Lunchtime Learning Central Minnesota Jobs and Training Services, Inc. Lunchtime Learning Community Action The Power of Partnership 4 When someone is living in a domestic violence situation, they may be financially dependent on their abuser. An Initiative Foundation grant is helping staff at Monticello's Rivers of Hope implement a program that will aid domestic abuse victims on their path to financial independence so they might escape their situation. The mission of Rivers of Hope is to end family violence through advocacy, education and collaboration. 4 Fifty-six child care providers received CPR and first-aid training with support from Wright County Economic Development Partnership and a Minnesota Department of Education grant distributed by the Initiative Foundation. In a recent survey, Wright County child care providers cited a Lack of in-person training as a barrier to completing licensing requirements. 4 Thanks to a 2020 Initiative Foundation grant, True Friends Camp has a fresh approach to seasonal staff recruitment and training in its effort to lead 25,000 -plus children and adults with disabilities through summer camp and other services. About 300 staff members annually assist with a variety of programs at the Annandale -area camp. Updated recruitment and training techniques helped the camp provide the right supports while also creating a larger pool of qualified workers to fill regional employment gaps. 5.31.22 4d EDA Agenda — 08/10/22 Consideration of approving funding for 2022 Manufacturer's Appreciation Breakfast Event in the amount of $1,150 (JT) A. REFERENCE AND BACKGROUND: The Manufacturers' Appreciation Breakfast, formerly Industry of the Year, is a business recognition and retention effort sponsored by the Industrial and Economic Development Committee (IEDC) and the EDA. The event is an opportunity to focus on and celebrate the contributions of the Monticello manufacturing and industrial community. It is held each year in conjunction with Minnesota Manufacturer's Week (typically the first week in October). Attendance has historically been in the range of 65 to 90 people. The breakfast event typically starts at 7:00 a.m. and ends at 8:15 a.m. The event is scheduled for October 13, 2022 in the Monticello Community Center (MCC). Event planning and preparation kicked off at the August 2nd, 2022 IEDC meeting and will continue through September. The event elements consist of the following. • 7:00 a.m. Networking and Breakfast Served • 7:20 a.m. Introduction, Sponsors Thank You • 7:25 a.m. Recognition Statement honoring Manufacturers • 7:30 a.m. Speaker Introduction — IEDC Chair • 7:35 a.m. Guest Speaker Presentation • 8:00 a.m. Questions for Speaker • 8:15 a.m. Conclude Event In the past, the EDA has funded a portion of the costs associated with the event, with city staff completing the planning and organizing. Staff also secured commitments for event sponsorships in prior years in the amount of $650 to help defray the costs. Expenses for the event include the complimentary breakfast and table decor and preparation, estimated at $1,800 +/-. Invitations and promotions for the event are completed in house at minimal cost. Supporting the IEDC in its lead role of Business Retention & Expansion efforts, of which the Manufacturers' Week events is a small part, is identified in the EDA's adopted 2022- 2024 Workplan (Goal 7, Policy 7.1.5). The EDA is asked to consider funding $1,150 for the event. Al. Budget Impact: The estimated expenses for the event are about $1,800. The EDA has sufficient funds in its Marketing line item to cover $1,150 of the estimated costs. The balance of event expense funding is anticipated to be covered by sponsorships. A2. Staff Workload Impact: Staff coordination is estimated at 14 to 18 hours. B. ALTERNATIVE ACTIONS: 1. Motion to approve $1,150 in funding for the 2022 Manufacturers' Appreciation event. 2. Motion to table consideration of funding for Manufacturers' Appreciation event for further research and/or discussion. C. STAFF RECOMMENDATION: City staff recommends Alternative #1. This event is Monticello's opportunity to thank its existing manufacturers and industries and support business retention and expansion activities. The EDA's funding support is vital to holding a successful event. D. SUPPORTING DATA: N/A 2 EDA: 08/10/22 4e. Consideration Authorizing an Amendment to the 2022 Pooled TIF Allocation Plan (JT/AS) A. REFERENCE AND BACKGROUND: The EDA is being asked to consider authorizing an amendment to the recently approved 2022 Pooled TIF Allocation Plan (approved by the EDA on May 25, 2022). The relatively minor amendment increases the Block 52 TIF District 1-45 pooled TIF allocation to $367,400 to cover additional costs expected to be incurred by the developer in connection with the mixed-use commercial -residential development proposal. The specific additional costs are related to environmental studies being undertaken by the developer and also to address existing site conditions as well as the public benefit parking lot excavation, paving, sidewalk and landscaping improvement expenditures based on the development plans approved by the City Council at the July 11, 2022, meeting. As a reminder the EDA adopted the 2022 Pooled TIF Allocation Plan to further support the redevelopment efforts in Block 52 as well as an avenue to enhance the EDA's funding position in connection with the Headwaters affordable housing development proposal. Due to the size and scope of Deephaven Development's mixed-use proposal, it was determined that the use of Pooled TIF dollars would be needed to help offset TIF eligible expenses. The proposed Allocation Plan amendment is relatively minor resulting in an increase of $24,400 of dollars from Pooled TIF to be allocated to TIF District 1-45 eligible expenses. Al. STAFF IMPACT: There is a limited staff impact in presenting a Pooled TIF Allocation Plan amendment for consideration at this time. Staff involved in the consideration of the Plan amendment include the Community Development Director, Economic Development Manager, Finance Director, and the EDA -City financial advisor, Northland Securities, Inc, as well as the EDA attorney. A2. BUDGET IMPACT: There is a modest budget impact related to the proposed amendment of the Pooled TIF Allocation Plan as presented. If the proposed amendment to the Plan is adopted, the budgetary impacts will be reflected in adjustments to the various older TIF Districts. B. ALTERNATIVE ACTIONS: 1. Motion to approve the proposed Amendment to the 2022 Pooled TIF Allocation Plan. 2. Motion to table consideration of the proposed Amendment to the 2022 Pooled TIF Allocation Plan for further research and/or discussion. 3. Motion of other as directed by the EDA. EDA: 08/10/22 C. STAFF RECOMMENDATION: Staff recommends Alternative #1. By approving an amendment to the 2022 Pooled TIF Allocation Plan, the EDA will ensure that additional identified redevelopment expenditures are covered through available pooled TIF dollars. The developer has stated that it will undertake the items in the redevelopment though it views them as a public benefit which address public infrastructure improvement objectives. A list of the proposed expenditures to be covered by the pooled TIF dollars in TIF 1-45 (Block 52 are included in the attachment). D. SUPPORTING DATA: a. Proposed Amendment to the 2022 Pooled TIF Allocation Plan b. Proposed Pooled TIF Uses in TIF District 1-45 2022 Pooled TIF Allocation Plan 05-25-22 The City of Monticello Economic Development Authority (the "EDA") administers the Tax Increment Financing Districts in the City of Monticello. Several TIF Districts have fulfilled increment payment obligations and show a balance of Extra Pooled Increment dollars as currently available for "Pooled" uses pursuant to Minnesota Statutes, Sections 469.174 through 469.1794, inclusive, as amended (the "TIF Act"). To better utilize the available resource of Pooled Increment dollars, the EDA proposes to identify through a Pooled TIF Allocation Plan in which TIF Districts it will utilize these resources. The general purpose of the Pooled TIF Allocation Plan is to provide additional assistance to development proposals through the use of the Pooled Increment funds to offset eligible costs related to the identified proposals or projects and also to match the Pooled Increment resources with the efforts being pursued in the EDA Workplan Goals and Objectives. The Pooled Increment must be allocated into like kind TIF District type such as new or pending Affordable Housing or Redevelopment TIF Districts. The identified source of the Pooled TIF dollars and the proposed new or pending TIF District use is shown below in summary style format. The spreadsheet attached to the Pooled TIF Allocation Plan is a general guidance reference as its accuracy is not guaranteed. 1. Existing Redevelopment TIF Districts —1-6. 1-20, 1-22 and 1-34: The EDA will commit current and future Pooled Increment dollars from the above identified Redevelopment TIF Districts into the pending Block 52 Redevelopment TIF District 1-45 in the amount of $367,400 +/-. The attached spreadsheet provides an estimate of available Pooled Increment dollars in the identified TIF Districts. 2. Existing Affordable Housing TIF Districts —1-19, 1-22, 1-24, 1-29, 1-30: The EDA will commit Pooled Increment dollars from the above identified Affordable Housing TIF Districts into the recently approved (not yet certified) Affordable Housing TIF Districts 1- 42 and 1-43 in the amount of $800,000 +/-. The attached spreadsheet provides an estimate of available Pooled Increment dollars in the identified TIF Districts. The EDA is not planning to decertify or close out any of the above identified TIF Districts in authorizing the Pooled TIF Allocation Plan. It is the EDA's intention to periodically review the TIF Districts identified above in the future for potential additional Pooled Increment as needed. In authorizing the Plan, the EDA, as needed, may amend the budgets set forth in the impacted TIF District Plans as necessary to facilitate the allocation of resources as identified in the Plan. Page 1 1 April 27, 2022 Authority Grant Items 8.10.22 Estimated Costs for the Authority Grant Items are shown below. The total Authority Grant is not to exceed (capped at) $367,400 Parking Paving $80,000.00 Parking Lot Excavation $80,000.00 Internal Sidewalk and Landscaping $80,000.00 Street Sidewalks $55,000.00 Plaza Concrete and Landscaping $55,000.00 ROW Landscape/Streetsca pe $55,000.00 Environmental Study — Phase 11 $15,400 $420,400 Jim Thares From: Angela Schumann Sent: Friday, August 5, 2022 10:43 AM To: Jim Thares; Sarah Rathlisberger; Matt Leonard; Rachel Leonard; Tammy Omdal (tomdaI@north landsecurities.com); Tom Pawelk Subject: Items for Pooled TIF/City Cost Jim, Hopefully this is what you were looking for in regard to pooled funds. I am providing the full summary from the plat/PUD staff report to all just for clarity and to identify any issues for use of funds for these purposes. • Reconstruction of City parking lot and access drive aisles with redevelopment — Available EDA pooled TIF and balance as necessary from Capital Projects Fund o Includes design engineering, surveying, staking, excavation/demo, paving, striping, parking lot signage and lighting, and construction coordination specific to the reconstruction • Construction of pathway (sidewalk) through adjacent side yard — EDA pooled TIF Funds • Landscaping of adjacent side yard, River Street boulevard, and SE corner plaza — EDA pooled TIF funds • Reconstruction of Walnut, River and Broadway sidewalks — 2023 Budget/Capital Project Fund • Relocation of underground electric, natural gas and fiber optic utilities along Walnut Street and within Block 52 (not including interior private utilities) —franchise fee held in • Street Lighting Improvement Fund Developer will demolish existing sidewalk along Broadway with their project. Angela Schumann Community Development Director City of Monticello www.ci.monticello.mn.us 763-271-3224 Email correspondence to and from the City of Monticello government office is subject to the Minnesota Government Data Practices act and may be disclosed to third parties. EDA Agenda: 08/10/22 5. PUBLIC HEARING (CONTINUED): Land Sale and Business Subsidy — Sale of Lot 2, Block 1, Block 52 First Addition: 65.000 sauare feet +/- to Deeahaven Develoament for a Mixed - Use Residential -Commercial Redevelopment Proposal and in connection with TIF Assistance supporting Deephaven Development's Block 52 Redevelopment proposal; and Consideration of Adopting Resolution No. 2022-18 Authorizing a Purchase and Redevelopment Contract containing a Grant and Business Subsidy Agreement with Deephaven Development for Lot 2, Block 1, Block 52 First Addition, in the amount of $1.00 related to a Dr000sed Mixed -Use Commercial -Residential Develoament in connection with and supported by Redevelopment TIF District No. 1-45 (JT) A. REFERENCE AND BACKGROUND: The EDA previously opened the combined land and sale business subsidy public hearing related to the Deephaven Block 52 Redevelopment proposal at its July 13, 2022, meeting. Due a desire by Deephaven and the EDA to further negotiate the final terms of Development Agreement, the EDA took comments from staff at the meeting and then continued the hearing to the August 10, 2022, meeting. A new public hearing notice was posted in the newspaper. It is attached as Exhibit G. Pursuant to Minnesota Statutes, Section 469.105, the EDA is required to hold a public hearing when it sells land. This land sale is related to Deephaven Development's [Deephaven] Block 52 redevelopment proposal. Since Deephaven is proposing a mixed-use residential -commercial project, a business subsidy public hearing is also required to be held (for the commercial component). Per Minnesota Statutes 116J.993 through 116J.995 as amended, Business Subsidy public hearings are required to provide full disclosure of the financial assistance that is being provided to a private business entity to complete a development project. At the hearing, the EDA will determine if the proposed sale of the property is advisable and comports with the goals and objectives of the City's 2040 Comprehensive Plan and furthers its general plan of economic development. Deephaven is proposing a five -story mixed use commercial -residential development. The ground floor will feature approximately 30,000 square feet of commercial space. Floors 2 through 5 are proposed to include 87 market rate residential (rental) units. An underground parking garage will have 83 parking stalls for residential tenant vehicles. A courtyard style surface parking lot is proposed in the middle of the block. A variety of small plazas, patios and landscaped pedestrian pathways are proposed along the edges and corners of the development. In pursuing the Block 52 redevelopment proposal, Deephaven submitted a Tax Increment EDA Agenda: 08/10/22 Financing (TIF) application and therein indicated that it desires to have the land parcel conveyed to it for $1.00. The developer has indicated that the total cost of the full proposal is approximately $26,000,000. The approved TIF Plan establishing TIF District 1-45 stipulates that the EDA will be reimbursed through TIF for the land area to be conveyed to the developer. Per the negotiated terms, the EDA expects to receive increment for its land payment in years 6 through 26, totaling $1,351,617 (approximately 91.073 percent of the 2022 Taxable Market Value of the land proposed to be conveyed to Deephaven) in principal payments plus interest. Also, related to the development proposal, the City is planning to complete a variety of necessary infrastructure improvements to River Street, Walnut Street and Broadway Street. These improvements will enhance access to the development, move overhead utilities underground, provide additional parking, and enhance streetscape improvements in the area, adding functionality and value to the overall proposal. An exhibit for the lot conveyance is provided as supporting data. The EDA conveyance parcel, outlined in green, is along the south and east sides of Block 52. The City owned public parking lots on the northwest side of the block, will not be conveyed to the developer. The total land area to be sold to Deephaven is approximately 65,800 square feet +/-. The City is also conveying a small piece of land adjacent to Pine Street to the EDA to convey to the developer as part of the proposed Lot 2. The 2040 Comprehensive Plan, the city guides Block 52 as Downtown Mixed Use. The current zoning is Central Community District. The development aligns with the City's adopted Vision Statement, supporting a more vibrant downtown and with many of the goals outlined in the Downtown Small Area Plan (SAP) adopted by the EDA and the City in late 2017. The proposed project is also consistent with many of the objectives identified in the 2040 Comprehensive Plan. The City Council recently approved the final plat and rezoning of the site to a PUD (Planned Unit Development) along with the land use Development Agreement as part of its final land use approval steps (see link to July 11, 2022 City Council Agenda Staff Report) Link = https://www.ci.monticello.mn.us/AgendaCenter/ViewFile/Item/427?filelD=4843. The Planning Commission reviewed the land conveyance to Deephaven at its May 18, 2022 regular meeting and approved a resolution finding the proposed conveyance in conformance with the 2040 Comprehensive Plan and its general economic development goals and objectives. The establishment of the Redevelopment TIF District was reviewed by the Ua EDA Agenda: 08/10/22 Planning Commission at its May 18, 2022, meeting and found to be in alignment with City policies and objectives. Redevelopment TIF District No. 1-45 steps previously completed by the City and the EDA are noted below. • June 22, 2022 — EDA approved establishing Redevelopment TIF District No. 1-45 contingent on City Council approval • June 27, 2022 — City Council held a public hearing and approved establishing Redevelopment TIF District No. 1-45 Key terms of the Purchase and Development Agreement include the following: • Conveyance of price = $1.00 (Current taxable Market Value = $1,484,100) to be repaid by principal and interest through tax increment • Land Value Write Down (value write down) = $132,482 (Section 3.2.(a); increment payments to the EDA = $1,351,617 • Tax Increment Revenue Note to Deephaven Development in the amount of $2,867,954 with an interest rate of 5.15 percent payable over 26 years • 45 new full-time equivalent jobs within three years at $12.39 per hour benefits of $1.75 per hour • Submittal of annual business subsidy compliance reports • Minimum assessment agreement in the amount of $18,500,000 • EDA Assignment of Redevelopment Grant to Deephaven Development in the amount of $517,500 for redevelopment costs consisting of Asbestos and Regulated Materials (ARM) and Demolition of Structures • EDA (Authority) Pooled TIF Grant to Deephaven in the amount of $367,400 for TIF eligible public benefit improvements • Evidence of project financing by Deephaven Development 9 EDA Agenda: 08/10/22 • Commencement of Minimum improvements by November 10, 2022 • Completion of foundation of the Minimum Improvements by June 15, 2023 • Project Completion by November 30, 2024 EDA consideration of the terms of the Purchase and Development Contract is the final significant step in the review and approval process. The public hearing step is a part of comprehensive action list involved in the review and approval considerations for the land conveyance and finalization of development assistance terms between the EDA and Deephaven. Al. STAFF IMPACT: Staff involved in the tasks related to the Purchase and TIF Development Contract include the City Administrator, Community Development Director, Finance Director, and Economic Development Manager. The EDA attorney (Kennedy and Graven) the Financial Advisor (Northland Securities) have also been fully involved in the negotiation process and document preparation (resolutions, public hearing notices, TIF Plan model projections and contracts) tasks related to the proposed land sale and TIF Development Contract. Northland Securities staff prepared the TIF Plan and the critical TIF "but for" analysis (but for the TIF assistance, the proposal would not move forward). The developer has agreed to undertake the platting and land use approval steps, creating a new site configuration. The developer has also indicated that it be responsible for the regulated materials mitigation steps and building demolition tasks as well. A2. BUDGET IMPACT: The budgetary impact related to EDA consideration of the Purchase and Development Agreement is one component of a series of critical steps related to the land conveyance and finalization of development assistance terms between the EDA and Deephaven. The developer TIF escrow account is intended to cover the legal and financial advisory fees incurred by the EDA in this process. Staff will continue to be prudent and monitor the fees charges that are presented by the EDA attorney and the financial advisor. A3. COMPREHENSIVE PLAN IMPACT: The Vision adopted as part of the Monticello 2040 Plan is to create a friendly and safe community which is inclusive and fosters a sense of belonging. The value statements call for a "Vibrant downtown that embraces the River and provides a focal point for the community". It also notes as a value "A range of attainable housing options in terms of type, cost, and location". Another value is "A diversified and strong local economy competitive at regional, state and national levels". The Deephaven Development mixed-use redevelopment proposal checks the boxes for all these value statements. 4 EDA Agenda: 08/10/22 B. ALTERNATIVE ACTIONS: 1. Motion to adopt Resolution No. 2022-18 Authorizing a Purchase and Redevelopment Agreement containing a Grant and Business Subsidy Agreement with Deephaven Development for the conveyance of Lot 2, Block 1, Block 52 First Addition, in the amount of $1.00 related to a proposed Mixed -Use Commercial -Residential Development in connection with and supported by Redevelopment TIF District No. 1-45. 2. Motion of other as directed by the EDA. C. STAFF RECOMMENDATION: Staff recommends Alternative #1. Approving the Purchase and Development Agreement Providing the land sale terms and TIF assistance is the next critical step in moving forward with the Block 52 redevelopment efforts. The redevelopment of Block 52 has been the EDA's top priority over the past several years. The Block 52 overall market valuation and its premier, visible location in the core of the City are key factors that led the EDA to prioritize redevelopment of the site as its top goal for the past several years. Deephaven Development's mixed-use commercial -residential proposal meets many of the objectives outlined in the Small Area Plan (SAP) adopted by the EDA and City Council in late 2017. Approving the Purchase and Development contract allowing the Deephaven proposal to move forward will be a significant step in achieving the City's goal of creating an economically vibrant and dynamic downtown core. D. SUPPORTING DATA: A. Resolution No. 2022-18 B. Purchase and Development Contract C. Northland TIF 1-45 Memo D. Illustration — Proposed Block 52 Lot Exhibit w/ EDA conveyance denoted E. Aerial Photo Block 52 F. Deephaven Development Proposal - Renderings and Site Plans G. Land Sale and Business Subsidy Public Hearing Notice w/ legal descriptions Wi CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2022-18 RESOLUTION AWARDING THE SALE OF, AND PROVIDING THE FORM, TERMS, COVENANTS AND DIRECTIONS FOR THE ISSUANCE OF A TAX INCREMENT REVENUE NOTE TO DEEPHAVEN DEVELOPMENT LLC AND APPROVING A PURCHASE AND DEVELOPMENT CONTRACT WITH DEEPHAVEN DEVELOPMENT LLC INCLUDING THE CONVEYANCE OF LAND AND APPROVING GRANT AND BUSINESS SUBSIDY AGREEMENT THEREIN BE IT RESOLVED BY the Board of Commissioners ("Board") of the City of Monticello Economic Development Authority, Monticello, Minnesota (the "Authority") as follows: Section 1. Recitals. 1.01. Authorization. The Authority and the City of Monticello, Minnesota (the "City") have approved the establishment of its Tax Increment Financing (Redevelopment) District No. 1- 45 (the "TIF District"), within the Central Monticello Redevelopment Project No. 1 ("Redevelopment Project") and have adopted a tax increment financing plan therefore for the purpose of financing certain public improvements within the Redevelopment Project. 1.02. To facilitate development of certain property in the TIF District, the Authority proposes to enter into a Purchase and Development Contract (the "Agreement") with Deephaven Development LLC, a Minnesota limited liability company, or an affiliate thereof or entity related thereto (the "Redeveloper"), under which among other things the Authority will convey to the Redeveloper, certain property described in Exhibit A attached hereto (the "Redevelopment Property") in order for the Redeveloper to construct an mixed-use five -story building located on the Redevelopment Property that will include approximately 87 rental housing units and 27,342 square feet of commercial retail and office space, with approximately 83 lower -level parking spaces and 114 adjacent off-street parking stalls (the "Minimum Improvements"). 1.03. The Authority proposes to sell the Redevelopment Property to the Redeveloper at the price of $1,484,100. The purchase price for the Redevelopment Property will be paid from cash in the amount of $1.00, a land write down from the Authority in the amount of $132,482 (the "Land Write Down"), and a Purchase Price Note (the "Purchase Price Note") from the Redeveloper in the amount of $1,351,617.00 which will be repaid from available tax increment generated by the Redevelopment Property in accordance with the Agreement. In addition, the Authority proposes to reimburse the Redeveloper for certain public redevelopment costs in the amount not to exceed $2,867,954 through the issuance of a pay as you go tax increment financing note (the "TIF Note") and in an amount not to exceed $367,400 through the provision of a grant (the "Authority Grant"), subject to the terms and conditions set forth in the Agreement. Finally, the Authority also proposes to reimburse the Redeveloper for a portion of the demolition and hazardous materials removal work on the Redevelopment Property in an amount not to exceed $517,500 (the "DEED Grant") pursuant to a Redevelopment Grant Contract Agreement Number RDGP-22-0009-o-FY22, effective as of April 1, 2022, between the Authority and the State of Minnesota, acting through the Department of Employment and Economic Development, Business and Community Development. 1.04. The proposed tax increment assistance to be provided to the Redeveloper requires that the City Council of the City and the Board of Commissioners of the Authority adopt a modification to the TIF Plan (the "TIF Plan Modification") to update the budget. 1.05. The Purchase Price Note, the Land Write Down, the TIF Note, the Authority Grant, and the DEED Grant constitute a "business subsidy" exceeding $150,000 within the meaning of Minnesota Statutes, Section 1161993 to I I6J.995, as amended (the "Business Subsidy Act"), and the Agreement includes a "business subsidy agreement" as required under the Business Subsidy Act. 1.06. The Authority and the City have previously established Tax Increment Financing District Nos. 1-6, 1-20, 1-22 and 1-34 (the "Pooled TIF Districts") and adopted a tax increment financing plan therefor. The Authority intends to provide the Authority Grant with pooled tax increment from the Pooled TIF Districts. 1.07. On the date hereof, the Authority conducted a duly noticed public hearing regarding the conveyance of the Redevelopment Property to the Redeveloper pursuant to the Agreement and the business subsidy agreement, at which all interested parties were given an opportunity to be heard, and the Authority hereby finds that the execution of the Agreement and performance of the Authority's obligations thereunder, including the conveyance of the Redevelopment Property to the Redeveloper and the business subsidy agreement, are in the best interest of the City and its residents. Section 2. Agreement Containing Land Sale and Business Subsidy Approved. 2.01 Contingent upon the approval by the Board and the City Council of the City of the Modification, the Board approves the Agreement in substantially the form presented to the Board, together with any related documents necessary in connection therewith, including without limitation the business subsidy agreement provided therein, all documents, exhibits, certifications, or consents referenced in or attached to the Agreement including without limitation the Deed and any documents required by the title company relating to the conveyance of property (all as defined in the Agreement) (the "Development Documents"). The Board hereby approves the conveyance of the Redevelopment Property to the Redeveloper in accordance with the terms of the Agreement. 2.02. The Board hereby authorizes the President and Executive Director, in their discretion and at such time, if any, as they may deem appropriate, to execute the Development Documents on behalf of the Authority, and to carry out, on behalf of the Authority, the Authority's obligations thereunder when all conditions precedent thereto have been satisfied. The Development Documents shall be in substantially the form on file with the Authority and the approval hereby given to the Development Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the 2 MN190\159\814302.v2 Authority and by the officers authorized herein to execute said documents prior to their execution; and said officers are hereby authorized to approve said changes on behalf of the Authority. The execution of any instrument by the appropriate officers of the Authority herein authorized shall be conclusive evidence of the approval of such document in accordance with the terms hereof. This resolution shall not constitute an offer and the Development Documents shall not be effective until the date of execution thereof as provided herein. 2.03. In the event of absence or disability of the officers, any of the documents authorized by this resolution to be executed may be executed without further act or authorization of the Board by any duly designated acting official, or by such other officer or officers of the Board as, in the opinion of the City Attorney, may act in their behalf. Upon execution and delivery of the Development Documents, the officers and employees of the Board are hereby authorized and directed to take or cause to be taken such actions as may be necessary on behalf of the Board to implement the Development Documents, including without limitation the issuance of tax increment revenue obligations thereunder when all conditions precedent thereto have been satisfied and reserving funds for the payment thereof in the applicable tax increment accounts and the crediting of tax increments to the payment of the Purchase Price Note when all conditions precedent thereto have been satisfied. Section 3. TIF Note Authorized and Approved. 3.01. The Authority hereby approves issuance of the TIF Note pursuant to the Agreement. The TIF Note shall be issued in the maximum aggregate principal amount of $2,867,954 to the Redeveloper in consideration of certain eligible costs incurred by the Redeveloper under the Agreement, shall be dated the date of delivery thereof, and shall bear interest at a rate of 5.15%. The TIF Note will be issued in a single series designated Taxable Tax Increment Revenue Note (Block 52 Project) issued in the principal amount of $2,867,954 to reimburse the Redeveloper for certain costs in accordance with the Agreement. The TIF Note is secured by TIF Note Available Tax Increment, as further described in the form of the TIF Note attached hereto as Exhibit B. The Authority hereby delegates to the Executive Director the determination of the date on which the TIF Note is to be delivered, in accordance with the Agreement. 3.02. The Authority hereby authorizes and approves the use of pooled tax increment from the Pooled TIF Districts to provide the Authority Grant in accordance with the Agreement. Section 4. Form of TIF Note, Terms and Delivery of TIF Note. 4.01 The TIF Note shall be in substantially the form attached hereto as Exhibit B, with the blanks to be properly filled in and the principal and interest rate amounts adjusted as of the date of issue. 4.02. Denomination, Pam. The TIF Note shall be issued as a single typewritten note numbered R-1. The TIF Note shall be issuable only in fully registered form. Principal of and interest on the TIF Note shall be payable by check or draft issued by the Registrar described herein. 3 MN190\159\814302.v2 4.03. Dates; Interest Payment Dates. Principal of and interest on the TIF Note shall be payable by mail to the owner of record thereof as of the close of business on the fifteenth day of the month preceding the Payment Date, whether or not such day is a business day. 4.04. Registration. The Authority hereby appoints the City Finance Director to perform the functions of registrar, transfer agent and paying agent (the "Registrar"). The effect of registration and the rights and duties of the Authority and the Registrar with respect thereto shall be as follows: (a) Register. The Registrar shall keep at its office a bond register in which the Registrar shall provide for the registration of ownership of the TIF Note and the registration of transfers and exchanges of the TIF Note. (b) Transfer of TIF Note. Upon surrender for transfer of the TIF Note duly endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in form reasonably satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly authorized by the registered owner in writing, and consent to such transfer by the Authority if required pursuant to the Agreement, the Registrar shall authenticate and deliver, in the name of the designated transferee or transferees, a new TIF Note of a like aggregate principal amount and maturity, as requested by the transferor. The Registrar may close the books for registration of any transfer after the fifteenth day of the month preceding each Payment Date and until such Payment Date. (c) Cancellation. The TIF Note surrendered upon any transfer shall be promptly cancelled by the Registrar and thereafter disposed of as directed by the Authority. (d) Improper or Unauthorized Transfer. When the TIF Note is presented to the Registrar for transfer, the Registrar may refuse to transfer the same until it is reasonably satisfied that the endorsement on such TIF Note or separate instrument of transfer is legally authorized. The Registrar shall incur no liability for its refusal, in good faith, to make transfers which it, in its judgment, deems improper or unauthorized. (e) Persons Deemed Owners. The Authority and the Registrar may treat the person in whose name the TIF Note is at any time registered in the bond register as the absolute owner of the TIF Note, whether the TIF Note shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on such TIF Note and for all other purposes, and all such payments so made to any such registered owner or upon the owner's order shall be valid and effectual to satisfy and discharge the liability of the Authority upon such TIF Note to the extent of the sum or sums so paid. (f) Taxes, Fees and Charges. For every transfer or exchange of the TIF Note, the Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee, or other governmental charge required to be paid with respect to such transfer or exchange. 4 MN190\159\814302.v2 (g) Mutilated, Lost, Stolen or Destroyed TIF Note. In case any TIF Note shall become mutilated or be lost, stolen, or destroyed, the Registrar shall deliver a new TIF Note of like amount, Termination Dates and tenor in exchange and substitution for and upon cancellation of such mutilated TIF Note or in lieu of and in substitution for such TIF Note lost, stolen, or destroyed, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case the TIF Note lost, stolen, or destroyed, upon filing with the Registrar of evidence satisfactory to it that such TIF Note was lost, stolen, or destroyed, and of the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or indemnity in form, substance, and amount satisfactory to it, in which both the Authority and the Registrar shall be named as obligees. The TIF Note so surrendered to the Registrar shall be cancelled by it and evidence of such cancellation shall be given to the Authority. If the mutilated, lost, stolen, or destroyed TIF Note has already matured or been called for redemption in accordance with its terms, it shall not be necessary to issue a new TIF Note prior to payment. 4.05. Preparation and Delivery. The TIF Note shall be prepared under the direction of the Executive Director and shall be executed on behalf of the Authority by the signatures of its President and Executive Director. In case any officer whose signature shall appear on the TIF Note shall cease to be such officer before the delivery of the TIF Note, such signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. When the TIF Note has been so executed, it shall be delivered by the Executive Director to the owner thereof in accordance with the Agreement. Section 5. Security Provisions. 5.01. Pledge. The Authority hereby pledges to the payment of the principal of and interest on the TIF Note all TIF Note Available Tax Increment as defined in the TIF Note. TIF Note Available Tax Increment shall be applied to payment of the principal of and interest on the TIF Note in accordance with the terms of the form of TIF Note set forth in Section 2 of this resolution. Section 6. Certification of Proceedings. 6.01. Certification of Proceedings. The officers of the Authority are hereby authorized and directed to prepare and furnish to the owner of the TIF Note certified copies of all proceedings and records of the Authority, and such other affidavits, certificates, and information as may be required to show the facts relating to the legality and marketability of the TIF Note as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates, and affidavits, including any heretofore furnished, shall be deemed representations of the Authority as to the facts recited therein. Section 7. Effective Date. This resolution shall be effective upon approval. Approved by the Board of Commissioners of the City of Monticello Economic Development Authority on August 10, 2022. 5 MN190\159\814302.v2 President ATTEST: Executive Director MN190\159\814302.v2 EXHIBIT A DESCRIPTION OF REDEVELOPMENT PROPERTY The real property in the City of Monticello, County of Wright, State of Minnesota, described as the following addresses: 101 W Broadway Street, 107 W Broadway Street, 113 W Broadway Street, 121 W Broadway Street, 103 Pine Street, 112 W River Street That part of Block 52, TOWNSITE OF MONTICELLO, Wright County, Minnesota lying southeasterly of the following described line: Commencing at the most northerly corner of said Block 52; thence southeasterly along the northeasterly line of said Block 52, a distance of 183.88 feet to the northwesterly line of the southeasterly 15.00 feet of Lot 13, said Block 52, being the point of beginning of the line to be described; thence southwesterly along said northwesterly line a distance of 94.52 feet; thence northwesterly parallel with the southwesterly line of said Block 52, a distance of 21.83 feet; thence southwesterly parallel with the southeasterly line of said Block 52, a distance of 107.48 feet; thence northwesterly parallel with the southwesterly line of said Block 52, a distance of 82.85 feet to the westerly line of the Easterly 20.00 feet of Lot 3, said Block 52; thence southwesterly along said westerly line, a distance of 128.50 feet to the southwesterly line of said Block 52 and said line there terminating. To be replatted as follows: Lot 2, Block 1, Block 52 First Addition A-1 MN190\159\814302.v2 EXHIBIT B UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF WRIGHT CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY No. R-1 TAXABLE TAX INCREMENT REVENUE NOTE SERIES 20_ (BLOCK 52 PROJECT) Rate 5.15% $2,867,954.00 Date of Original Issue , 20_ The City of Monticello Economic Development Authority (the "Authority") for value received, certifies that it is indebted and hereby promises to pay to Deephaven Development LLC, a Minnesota limited liability company, or registered assigns (the "Owner"), the principal sum of $2,867,954.00 and to pay interest thereon at the rate of 5.15% per annum, solely from the sources and to the extent set forth herein. Capitalized terms shall have the meanings provided in the Purchase and Development Contract between the Authority and the Owner, dated as of , 2022 (the "Agreement"), unless the context requires otherwise. 1. Pam. Principal and interest (the "Payments") shall be paid on August 1, 2025 and each February 1 and August 1 thereafter ("Payment Dates") to and including February 1, 2051 (the "Maturity Date") in the amounts and from the sources set forth in Section 3 herein. Payments shall be applied first to accrued interest, and then to unpaid principal. This Note shall be paid solely from TIF Note Available Tax Increment (as hereinafter defined). TIF Note Available Tax Increment will not include any Tax Increment (as defined the Agreement) if, as of any Payment Date, there is an uncured Event of Default under the Agreement. Payments are payable by mail to the address of the Owner or such other address as the Owner may designate upon sixty (60) days written notice to the Authority. Payments on this TIF Note are payable in any coin or currency of the United States of America which, on the Payment Date, is legal tender for the payment of public and private debts. 2. Interest. Interest at the rate stated herein shall accrue on the unpaid principal, commencing on the date of original issue. The Note shall bear simple non -compounding interest. 3. TIF Note Available Tax Increment. (a) Payments on this TIF Note are payable on each Payment Date solely from and in the amount of TIF Note Available Tax Increment, which shall mean: B-1 MN190\159\814302.v2 (i) on Payment Dates August 1, 2025 through February 1, 2030, one hundred percent (100%) of the Tax Increment attributable to the Minimum Improvements and Redevelopment Property that is actually paid to the Authority by Wright County in the six (6) months preceding the Payment Date; and (ii) on Payment Dates August 1, 2030 through February 1, 2051, seventy-five percent (75%) of the Tax Increment attributable to the Minimum Improvements and Redevelopment Property that is actually paid to the Authority by Wright County in the six (b) The Authority shall have no obligation to pay principal of and interest on this TIF Note on each Payment Date from any source other than TIF Note Available Tax Increment and the failure of the Authority to pay the entire amount of principal or interest on this TIF Note on any Payment Date shall not constitute a default hereunder as long as the Authority pays principal and interest hereon to the extent of TIF Note Available Tax Increment. The Authority shall have no obligation to pay any unpaid balance of principal or accrued interest that may remain after the final Payment on the Maturity Date. 4. Default. The Authority's payment obligations shall be subject to Sections 9.1 and 9.2 of the Agreement and are further subject to the conditions that (i) no Event of Default under Section 9.1 of the Agreement shall have occurred and be continuing at the time payment is otherwise due hereunder; and (ii) the Agreement and this TIF Note shall not have been terminated in accordance with Section 9.2 of the Agreement. Any such suspended and unpaid amounts shall become payable, without interest accruing thereon in the meantime, if this TIF Note has not been terminated in accordance with Section 9.2 of the Agreement and said Event of Default shall thereafter have been cured in accordance with Section 9.2. If pursuant to the occurrence of an Event of Default under the Agreement the Authority elects, in accordance with the Agreement, to cancel and rescind the Agreement and/or this TIF Note, the Authority shall have no further obligation under this TIF Note whatsoever. Reference is hereby made to all of the provisions of the Agreement, for a fuller statement of the rights and obligations of the Authority to pay the principal of this TIF Note and the interest thereon, and said provisions are hereby incorporated into this TIF Note as though set out in full herein. 5. Prepayment. The principal sum and all accrued interest payable under this TIF are prepayable at the option of the Authority at any time. 6. Nature of Obligation. This TIF Note is one of an issue in the total principal amount of $2,867,954, issued to aid in financing certain Public Redevelopment Costs of a Redevelopment Project undertaken by the Authority pursuant to Minnesota Statutes, Sections 469.090 through 469.108 1, as amended, and Section 469.001 through 469.047, as amended, and is issued pursuant to an authorizing resolution (the "Resolution") duly adopted by the Authority on July 13, 2022, and pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including Minnesota Statutes, Sections 469.174 to 469.1794, as amended. This TIF Note is a limited obligation of the Authority which is payable solely from TIF Note Available Tax Increment pledged to the payment hereof under the Resolution. This TIF Note and the interest hereon shall not be deemed to constitute a general obligation of the State of Minnesota or any political subdivision thereof, including, without limitation, the Authority or the City of Monticello, B-2 MN190\159\814302.v2 Minnesota (the "City"). Neither the State of Minnesota, the City, the Authority nor any political subdivision thereof shall be obligated to pay the principal of or interest on this TIF Note or other costs incident hereto except out of TIF Note Available Tax Increment, and neither the full faith and credit nor the taxing power of the State of Minnesota, the City, the Authority, or any political subdivision thereof is pledged to the payment of the principal of or interest on this TIF Note or other costs incident hereto. THE AUTHORITY MAKES NO REPRESENTATION OR WARRANTY THAT THE TIF NOTE AVAILABLE TAX INCREMENT WILL BE SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THIS NOTE. 7. Registration and Transfer. This TIF Note is issuable only as a fully registered TIF Note without coupons. As provided in the Resolution, and subject to certain limitations set forth therein, this TIF Note is transferable upon the books of the Authority kept for that purpose at the principal office of the Executive Director, by the Owner hereof in person or by such Owner's attorney duly authorized in writing, upon surrender of this TIF Note together with a written instrument of transfer satisfactory to the Authority, duly executed by the Owner. Upon such transfer or exchange and the payment by the Owner of any tax, fee, or governmental charge required to be paid by the Authority with respect to such transfer or exchange, there will be issued in the name of the transferee a new TIF Note of the same aggregate principal amount, bearing interest at the same rate and maturing on the same dates, within 15 days after the delivery by the Owner of its request and approval of such request by the Authority if required under the Agreement. Except as otherwise provided in the Agreement, this TIF Note shall not be transferred to any person or entity, unless the Authority has provided written consent to such transfer and the Authority is provided with an investment letter in a form satisfactory to the Authority. The Registrar may close the books for registration of any transfer after the fifteenth (15th) day of the month preceding each Payment Date and until such Payment Date. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen, and to be performed in order to make this TIF Note a valid and binding limited obligation of the Authority according to its terms, have been done, do exist, have happened, and have been performed in due form, time and manner as so required. IN WITNESS WHEREOF, the Board of Commissioners of the City of Monticello Economic Development Authority have caused this TIF Note to be executed with the manual signatures of its President and Executive Director, all as of the Date of Original Issue specified above. CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY B-3 MN190\159\814302.v2 Executive Director President REGISTRATION PROVISIONS The ownership of the unpaid balance of the within TIF Note is registered in the bond register of the City Finance Director, in the name of the person last listed below. Date of Registration Registered Owner 20_ Deephaven Development LLC Federal Tax LD No B-4 MN190\159\814302.v2 Signature of Executive Director PURCHASE AND DEVELOPMENT CONTRACT By and Between CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY and DEEPHAVEN DEVELOPMENT LLC Dated as of: August _, 2022 This document was drafted by: KENNEDY & GRAVEN, Chartered (GAF) 150 South 5th Street, Suite 700 Minneapolis, MN 55402 Telephone: (612) 337-9300 TABLE OF CONTENTS PREAMBLE............................................................................................................................1 ARTICLE I Definitions Section1.1. Definitions..........................................................................................................3 ARTICLE II Representations and Warranties Section 2.1. Representations and Warranties by the Authority ............................................... Section 2.2. Representations and Warranties by the Redeveloper ........................................... ARTICLE III Acquisition and Conveyance of Property; TIF and Other Assistance Section 3.1. Conveyance of the Redevelopment Property........................................................ Section 3.2. Purchase Price; Provisions for Payment; and Fees ............................................... Section 3.3. Representation and As Is Conveyance.................................................................. Section3.4. Title....................................................................................................................... Section 3.5. Delivery of Documents......................................................................................... Section 3.6. Contingencies to Closing on Redevelopment Property ........................................ Section3.7. Closing.................................................................................................................. Section 3.8 Conveyance Subject to Right of Re-Entry............................................................ Section 3.9 Advance of Purchase Price Note and Other Costs; Tax Increment Purchase Price Note....................................................................................................................... Section 3.10. Reimbursement of Public Redevelopment Costs; Issuance of TIF Note .............. Section 3.11. DEED Grant Assistance........................................................................................ Section 3.12. Other Assistance................................................................................................... Section 3.13. Business Subsidy Act............................................................................................ Section 3.14. Payment of Administrative Costs......................................................................... ARTICLE IV Construction of Minimum Improvements Section 4.1. Construction of Minimum Improvements........................................................... Section4.2. Construction Plans............................................................................................... Section 4.3. Commencement and Completion of Construction ............................................... Section 4.4. Certificate of Completion.................................................................................... Section 4.5. Records and Reports............................................................................................ Section 4.6. Compliance with Environmental Standards......................................................... ARTICLE V MN190\159\804148.v6 Insurance Section5.1. Insurance.............................................................................................................. Section5.2. Subordination....................................................................................................... ARTICLE VI Delinauent Taxes and Review of Taxes Section 6.1. Right to Collect Delinquent Taxes....................................................................... Section 6.2. Review of Taxes ARTICLE VII Financing Section7.1. Financing.............................................................................................................. Section 7.2. Authority's Option to Cure Default on Mortgage ................................................ Section 7.3. Subordination and Modification for the Benefit of Mortgagee ........................... ARTICLE VIII Prohibitions Against Assignment and Transfer; Indemnification Section 8.1. Representation as to Development....................................................................... Section 8.2. Prohibition Against Redeveloper's Transfer of Property and Assignmentof Agreement................................................................................... Section 8.3. Release and Indemnification Covenants.............................................................. ARTICLE IX Events of Default Section 9.1. Events of Default Defined.................................................................................... Section 9.2. Remedies on Default............................................................................................. Section 9.3. No Remedy Exclusive........................................................................................... Section 9.4. No Additional Waiver Implied by One Waiver .................................................... ARTICLE X Additional Provisions Section 10.1. Conflict of Interests; Authority Representatives Not Individually Liable........... Section 10.2. Equal Employment Opportunity.......................................................................... Section 10.3. Restrictions on Use.............................................................................................. Section 10.4. Provisions Not Merged With Deed...................................................................... Section 10.5. Titles of Articles and Sections............................................................................. Section 10.6. Notices and Demands.......................................................................................... Section10.7. Counterparts......................................................................................................... Section10.8. Recording............................................................................................................. Section10.9. Amendment.......................................................................................................... Section 10.10. Authority Approvals............................................................................................ MN190\159\804148.v6 Section10. 11. Termination.......................................................................................................... Section 10.12. Choice of Law and Venue.................................................................................... SCHEDULE A Description of Redevelopment Property SCHEDULE B Form of Quit Claim Deed SCHEDULE C Form of Purchase Price Note SCHEDULE D Certificate of Completion SCHEDULE E Resolution Approving Contract and TIF Note SCHEDULE F DEED Disbursement Request SCHEDULE G Redevelopment Costs SCHEDULE H Assessment Agreement MN190\159\804148.v6 PURCHASE AND DEVELOPMENT CONTRACT THIS AGREEMENT, made as of the _ day of August, 2022, (the "Effective Date") by and between the CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY, a public body corporate and politic and a political subdivision under the laws of the State of Minnesota (the "Authority"), and DEEPHAVEN DEVELOPMENT LLC, a Minnesota limited liability company (the "Redeveloper"). WITNESSETH: WHEREAS, the Housing and Redevelopment Authority in and for the City of Monticello (the "HRA") has undertaken a program to promote economic development and job opportunities and to promote the redevelopment of land which is underutilized within the City of Monticello, Minnesota (the "City"), and in this connection created the Central Monticello Redevelopment Project No. 1 (the "Redevelopment Project") pursuant to Minnesota Statutes, Sections 469.001 through 469.047, as amended (the "HRA Act"), and adopted a redevelopment plan for the Redevelopment Project; and WHEREAS, the Authority was established pursuant to Minnesota Statutes, Sections 469.090 to 469.108 1, as amended (hereinafter referred to as the "EDA Act"), and was authorized to transact business and exercise its powers by a resolution of the City Council of the City, which also transferred the control and responsibility for the Redevelopment Project from the HRA to the Authority; and WHEREAS, pursuant to its powers under the EDA Act and the HRA Act, the Authority is authorized to acquire real property, or interests therein, and to undertake certain activities to facilitate the development of real property by private enterprise; and WHEREAS, the Authority has acquired or will acquire certain property described in Schedule A (the "Redevelopment Property") within the Redevelopment Project, and intends to convey the Redevelopment Property to the Redeveloper for development of certain improvements as described herein; and WHEREAS, the Authority and the City have approved a Tax Increment Financing Plan and a Modification to the Tax Increment Financing Plan (collectively, the "TIF Plan") for Tax Increment Financing (Redevelopment) District No. 1-45 (the "TIF District"), a redevelopment district within the Redevelopment Project, pursuant to Minnesota Statutes, Sections 469.174 to 469.1794, as amended (the "TIF Act"); and WHEREAS, pursuant to the Act, the Authority is authorized to undertake certain activities to facilitate the redevelopment of real property by private enterprise; and WHEREAS, the Authority intends to convey the Redevelopment Property to the Redeveloper for the purposes of constructing a mixed-use five -story building on the Redevelopment Property that will include approximately 87 rental housing units and 27,342 square feet of commercial retail and office space, with approximately 83 lower -level parking spaces and 114 adjacent off-street parking 1 MN190\159\804148.v6 stalls (collectively the "Minimum Improvements") in accordance with the terms hereof and has requested that the Authority provide certain financial assistance to assist the Redeveloper with certain costs thereof in order to fill the gap between the total development costs and the funds available to pay such costs; and WHEREAS, the Authority believes that the redevelopment of the Redevelopment Property pursuant to this Agreement and the fulfillment generally of this Agreement are in the vital and best interests of the City and the health, safety, morals, and welfare of its residents, and in accord with the public purposes and provisions of the applicable State and local laws and requirements under which the Redevelopment Project has been undertaken and is being assisted; and WHEREAS, the requirements of the Business Subsidy Act, Minnesota Statutes, Section I I6J.993 through I I6J.995, as amended (the "Business Subsidy Act"), apply to this Agreement; and WHEREAS, the City and the Authority have previously adopted criteria for awarding business subsidies that comply with the Business Subsidy Act, after public hearings for which notice was published; and WHEREAS, in connection with the assistance provided under this Agreement, this agreement constitutes a subsidy agreement under the Business Subsidy Act. NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: 2 MN190\159\804148.v6 ARTICLE I TlPfinitinnc Section 1.1. Definitions. In this Agreement, unless a different meaning clearly appears from the context: "Act" means, collectively, the Economic Development Authority Act, Minnesota Statutes, Sections 469.090 to 469.1081, as amended, and the Housing and Redevelopment Authority Act, Minnesota Statutes, Sections 469.001 to 469.047, as amended. "Affiliate" means with respect to any entity (a) any corporation, partnership, limited liability company or other business entity or person controlling, controlled by, or under common control with the entity, and (b) any successor to such party by merger, acquisition, reorganization, or similar transaction involving all or substantially all of the assets of such party (or such Affiliate). For the purpose hereof the words "controlling", "controlled by," and "under common control with" shall mean, with respect to any corporation, partnership, limited liability company, or other business entity, the ownership of fifty percent or more of the voting interests in such entity or possession, directly or indirectly, of the power to direct or cause the direction of management policies of such entity, whether through ownership of voting securities or by contract or otherwise. "Agreement" means this Purchase and Development Contract, as the same may be from time to time modified, amended, or supplemented. "Assessment Agreement" means the Minimum Assessment Agreement, between the Redeveloper and the Authority, in substantially the form of the agreement attached as Exhibit H hereto and made part of this Agreement. "Authority" means the City of Monticello Economic Development Authority, or any successor or assign. "Authority Grant" means the grant made by the Authority to the Redeveloper as defined in Section 3.12 hereof. "Authority Representative" means the Executive Director of the Authority, or any person designated by the Executive Director to act as the Authority Representative for the purposes of this Agreement. "Authorizing Resolution" means the resolution of the Authority, substantially in the form attached as Schedule E to be adopted by the Authority to approve this Agreement, authorize the issuance of the TIF Note, and approve the Authority Grant. "Business Subsidy Act" means Minnesota Statutes, Sections 1161993 to 116J.995, as amended. "Certificate of Completion" means the certification in the form set forth in Schedule D and provided to the Redeveloper pursuant to Section 4.4 of this Agreement. 3 MN190\159\804148.v6 "City" means the City of Monticello, Minnesota. "Closing Date" or "Closing" means not later than October 10, 2022, or such other date as mutually agreed to by the Authority and Redeveloper on which the Authority will convey title to the Redevelopment Property to the Redeveloper. "Construction Documents" shall mean the following documents, all of which shall be in form and substance acceptable to the Authority: (a) evidence satisfactory to the Authority showing that the Minimum Improvements conform to applicable zoning, subdivision and building code laws and ordinances, including a copy of the building permit for the Minimum Improvements; (b) a copy of the executed agreement between owner and architect for architectural services for the Minimum Improvements, if any, and (c) a copy of the executed general contractor's contract for the Minimum Improvements, if any. "Construction Plans" means the plans, specifications, drawings and related documents on the construction work to be performed by the Redeveloper on the Redevelopment Property which a) shall be as detailed as the plans, specifications, drawings, and related documents which are submitted to the appropriate building officials of the City, and (b) shall include at least the following for each building: (1) site plan; (2) foundation plan; (3) basement plans; (4) floor plan for each floor; (5) cross sections of each (length and width); (6) elevations (all sides); (7) landscape plan; and (8) such other plans or supplements to the foregoing plans as the Authority may reasonably request to allow it to ascertain the nature and quality of the proposed construction work. "County" means the County of Wright, Minnesota. "Deed" means the Quit Claim Deed in the form attached hereto as Schedule B, to be executed by the Authority conveying the Redevelopment Property to the Redeveloper. "DEED Grant" means the $517,500.00 to be used for DEED Redevelopment Costs on the Redevelopment Property, issued by the Department of Employment and Economic Development pursuant to the DEED Grant Agreement. "DEED Grant Agreement" means the Redevelopment Grant Contract Agreement number RDGP-22-0009-o-FY22, effective as of April 1, 2022, between the Authority and the State of Minnesota, acting through the Department of Employment and Economic Development, Business and Community Development division which provides the DEED Grant to the Authority to reimburse the DEED Redevelopment Costs, as defined therein. "DEED" means the Business and Community Development Division of the State of Minnesota's Department of Employment and Economic Development, as grantor in the DEED Grant Agreement. "Event of Default" means an action by the Redeveloper listed in Section 9.1 of this Agreement. 4 MN190\159\804148.v6 "Minimum Improvements" means the construction by the Redeveloper of a mixed-use five - story building located on the Redevelopment Property that will include approximately 87 rental housing units and 27,342 square feet of commercial retail and office space, with approximately 83 lower -level parking spaces and 114 adjacent off-street parking stalls. "Mortgage" means any mortgage made by the Redeveloper, which is secured, in whole or in part, with the Redevelopment Property and which is a permitted encumbrance pursuant to the provisions of Article VII of this Agreement. "Payment Date" means August 1 of the year commencing on August 1, 2025 and each February 1 and August I thereafter until the Termination Date. "Planning Development Contract" means the Development Contract and Planned Unit Development Agreement between the City and the Redeveloper, preliminarily approved by the City Council of the City on July 11, 2022. "Plat" shall mean the final plat entitled Block 52 First Addition and submitted to the City in conjunction with the Redevelopment Project and the Redevelopment Property. "Public Redevelopment Costs" has the meaning provided in Section 3.10(a) hereof. "Purchase Price Note" has the meaning provided in Section 3.2 hereof. "Purchase Price Note Available Tax Increment," means, on each Payment Date commencing on August 1, 2030, 25% of the Tax Increment attributable to the Redevelopment Property and paid to the Authority by Wright County in the six (6) months preceding the Payment Date. Purchase Price Note Available Tax Increment may also be used by the Authority to pay ongoing costs of administering the TIF District. "Redeveloper" means Deephaven Development LLC, a Minnesota limited liability company, or its permitted successors and assigns. "Redevelopment Costs" has the meaning provided in Section 3.12 hereof. "Redevelopment Plan" means the Authority's Redevelopment Plan for the Redevelopment Project, as amended through the date of this Agreement. "Redevelopment Property" means the real property described in Schedule A of this Agreement. No. 1. "Redevelopment Project" means the Authority's Central Monticello Redevelopment Project "State" means the State of Minnesota. MN190\159\804148.v6 "Tax Increment" means that portion of the real property taxes which is paid with respect to the Redevelopment Property and which is actually remitted to the Authority as tax increment pursuant to the Tax Increment Act. The term Tax Increment does not include any amounts retained by or payable to the State auditor under Section 469.177, subdivision 11 of the Tax Increment Act. "Tax Increment Act" or "TIF Act" means the Tax Increment Financing Act, Minnesota Statutes, Sections 469.174 to 469.1794, as amended. "Tax Increment District" or "TIF District" means the Authority's Tax Increment Financing (Redevelopment) District No. 1-45. "Tax Increment Plan" or "TIF Plan" means the Authority's Tax Increment Financing Plan for the TIF District, as approved by the Authority on June 22, 2022, and by the City on June 27, 2022, and as may be amended from time to time. "Tax Official" means any County assessor; County auditor; County or State board of equalization, the commissioner of revenue of the State, or any State or federal district court, the tax court of the State, or the State Supreme Court. "Termination Date" means the later of (a) date of the Authority's last receipt of Tax Increment from the TIF District in accordance with Section 469.176, subdivision lb(3) of the TIF Act; (b) the date the Purchase Price Note has been paid in full, defeased, or terminated in accordance with the terms of the resolution set forth in Schedule C; or (c) the date the TIF Note has been paid in full or terminated in accordance with the terms of this Agreement. "TIF Note" means the Taxable Tax Increment Revenue Note (Block 52 Project), substantially in the form contained in the Authorizing Resolution, to be delivered by the City to the Redeveloper in accordance with Section 3.10(a) hereof. "TIF Note Available Tax Increment," means pursuant to the TIF Note (i) on Payment Dates August 1, 2025 through February 1, 2030, one hundred percent (100%) of the Tax Increment attributable to the Minimum Improvements and Redevelopment Property that is actually paid to the Authority by Wright County in the six (6) months preceding the Payment Date; and (ii) on Payment Dates August 1, 2030 through February 1, 2051, seventy-five percent (75%) of the Tax Increment attributable to the Minimum Improvements and Redevelopment Property that is actually paid to the Authority by Wright County in the six (6) months preceding the Payment Date. TIF Note Available Tax Increment shall not include any Tax Increment if, as of any Payment Date, there is an uncured Event of Default under this Agreement. "Title Company" means The Title Company, Fargo, North Dakota, or other title company designated by the Redeveloper in connection with the acquisition of the Redevelopment Property. "Transfer" has the meaning set forth in Section 8.2(a) hereof. "Unavoidable Delays" means delays beyond the reasonable control of the parry seeking to be excused as a result thereof which are the direct result of war, terrorism, strikes, other labor troubles, 6 MN190\159\804148.v6 prolonged adverse weather or acts of God, fire or other casualty to the Minimum Improvements, a pandemic or epidemic, but not including any current policies or practices in effect as of the Effective Date as result of the current Covid-19 pandemic, litigation commenced by third parties which, by injunction or other similar judicial action, directly results in delays, or acts of any federal, state, or local governmental unit (other than the Authority in exercising its rights under this Agreement) which directly result in delays. Unavoidable Delays shall not include delays in the Redeveloper's obtaining of permits or governmental approvals necessary to enable construction of the Minimum Improvements by the dates such approvals and construction is required under Sections 4.2 and 4.3 of this Agreement. (The remainder of this page is intentionally left blank) 7 MN190\159\804148.v6 ARTICLE II resentations and Warranties Section 2.1. Representations and Warranties by the Authority. The Authority makes the following representations and warranties: (a) The Authority is an economic development authority duly organized and existing under the laws of the State. Under the provisions of the Act, the Authority has the power to enter into this Agreement and carry out its obligations hereunder. (b) The activities of the Authority are undertaken to foster the development and redevelopment of certain real property which for a variety of reasons is presently underutilized, to increase the tax base in the City, to provide employment opportunities in the City, to increase housing options in the City, to provide a mixed-use development in the City's downtown, to meet the City's longtime goal of redeveloping the Redevelopment Property and revitalizing its downtown, and to stimulate further development of the TIF District and Redevelopment Project as a whole. (c) The Authority has taken the actions necessary to establish the TIF District as a "redevelopment district" within the meaning of Minnesota Statutes, Section 469.174, Subdivision 10. (d) No member of the Board of Commissioners of the Authority, or officer of the Authority, has either a direct or indirect financial interest in this Agreement. (e) The Redevelopment Property is exempt from property taxes for taxes payable in 2022. (f) To the actual knowledge of the undersigned, the Authority is no indebted for labor and material that might give rise to the filing of a notice of mechanic's lien against the Redevelopment Property. (g) To the actual knowledge of the undersigned, there are no leases that will affect the Redevelopment Property as of the Closing Date. (h) The Authority makes no representation or warranty, either express or implied, as to the Redevelopment Property or its condition, or that the Redevelopment Property shall be suitable for the Redeveloper's purposes or needs. Section 2.2. Representations and Warranties by the Redeveloper. The Redeveloper represents and warrants that: (a) The Redeveloper is a limited liability company duly organized and in good standing under the laws of the State of Minnesota, is not in violation of any provisions of its organizational documents or the laws of the State, is duly authorized to transact business within the State, has power 8 MN190\159\804148.v6 to enter into this Agreement and has duly authorized the execution, delivery, and performance of this Agreement by proper action of its governing members. (b) If the Redeveloper acquires the Redevelopment Property in accordance with this Agreement, the Redeveloper will construct, operate, and maintain the Minimum Improvements in accordance with the terms of this Agreement, the Redevelopment Plan and all applicable local, state, and federal laws and regulations (including, but not limited to, environmental, zoning, building code, labor, and public health laws and regulations). (c) With the exception of those certain findings within the Hazardous -Asbestos - Regulated Materials reports dated June 17, 2022, and June 24, 2022 (the "Environmental Reports"), Redeveloper has received no actual notice or communication from any local, state, or federal official that the activities of the Redeveloper or the Authority in the Redevelopment Project may be or will be in violation of any environmental law or regulation (other than those notices or communications of which the Authority is aware). The Redeveloper is not actually aware of any facts the existence of which would cause it to be in violation of or give any person a valid claim under any local, state, or federal environmental law, regulation, or review procedure. (d) The Redeveloper will make reasonable efforts to obtain, in a timely manner, all required permits, licenses, and approvals, and will make reasonable efforts to meet, in a timely manner, all requirements of all applicable local, state, and federal laws and regulations which must be obtained or met before the Minimum Improvements may be lawfully constructed. (e) Neither the execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement is prevented, limited by, or conflicts with or results in a breach of, the terms, conditions or provisions of any corporate restriction or any evidences of indebtedness, agreement or instrument of whatever nature to which the Redeveloper is now a party or by which it is bound, or constitutes a default under any of the foregoing. (f) Whenever any Event of Default occurs and if the Authority shall employ attorneys or incur other expenses for the collection of payments due or to become due or for the enforcement of performance or observance of any obligation or agreement on the part of the Redeveloper under this Agreement, and the Authority prevails in such action, the Redeveloper agrees that it shall, within 30 days of written demand by the Authority, pay to the Authority the reasonable fees of such attorneys and such other expenses so incurred by the Authority. (g) The proposed development by the Redeveloper hereunder would not occur but for the tax increment financing assistance being provided by the Authority hereunder. (h) The Redeveloper understands that the Authority and the City may subsidize or encourage the development of other developments in the City, including properties that compete with the Redevelopment Property and the Minimum Improvements, and that such subsidies may be more favorable than the terms of this Agreement, and that neither the Authority nor the City has represented that development of the Redevelopment Property will be favored over the development of other properties. 9 MN190\159\804148.v6 ARTICLE III Acquisition and Conveyance of Property; TIF Assistance Section 3.1. Conveyance of the Redevelopment Property. As of the date of this Agreement, the Authority owns or will acquire from the City the Redevelopment Property described in Schedule A. At Closing, the Authority will convey title to and possession of the Redevelopment Property to the Redeveloper, subject to all the terms and conditions of this Agreement. Section 3.2. Purchase Price; Provisions for Payment; and Fees. (a) The purchase price to be paid to the Authority by the Redeveloper in exchange for the conveyance of the Redevelopment Property is $1,484,100.00. The purchase price shall be paid in cash from the Redeveloper in the amount of $1.00, a land write down in the amount of $132,482 (the "Land Write Down") from the Authority, and a purchase price note from the Redeveloper in the amount of $1,351,617.00 (the "Purchase Price Note") in substantially the form attached hereto as Schedule C payable from Purchase Price Note Available Tax Increments in accordance with the terms of this paragraph. The Purchase Price Note shall accrue interest at the rate of 3.00% per annum. Commencing August 1, 2030, on each February 1 and August I thereafter to and including the termination date of the TIF District, or, if the first day of either February 1 or August 1 should not be a Business Day, the next succeeding Business Day (the "Purchase Price Note Payment Dates") the Authority will credit against the principal amount of the Purchase Price Note plus accrued interest thereon at the rate of 3.00% per annum, the Purchase Price Note Available Tax Increments. On the termination date of the TIF District, the Authority will forgive the outstanding balance of the Purchase Price Note subject to Section 4.3(d). (b) In addition, the Redeveloper shall assume or pay all taxes, special assessments, and similar governmental impositions due and payable in the year of Closing and after the Closing Date and all future years. The Redeveloper will pay: (a) the closing fees charged by the Title Company, if any, utilized to close the transaction contemplated by this Article III; (b) fees for title evidence obtained by Redeveloper; (c) title insurance premium costs; (d) the recording fee for the deed transferring title to the Redeveloper; (e) any survey or environmental investigation costs incurred by Redeveloper; and (f) any transfer taxes, recording fees and Well Disclosure fees required to enable the Redeveloper to record the Deed from the Authority under this Agreement. The Authority shall pay any and all title fees and charges related to the filing of any instrument required to make title marketable or otherwise give the Authority the ability to transfer the Redevelopment Property. Section 3.3 Representation and As Is Conveyance. (a) In recognition of the significant economic contributions which the Authority is making to develop the Minimum Improvements by providing the tax increment assistance, the DEED Grant and the Authority Grant, the Redeveloper shall accept the conveyance of the Redevelopment Property on an "AS IS" "WHERE IS" basis, with all faults and defects, without any warranties, express or implied, except such representations and warranties as specifically set forth in this Agreement, and the Redeveloper waives any claims against the Authority, the City and their governing bodies' members, officers, agents, including the independent contractors, consultants and 10 MN190\159\804148.v6 legal counsel and employees thereof (collectively the "Indemnified Parties"), for indemnification, contribution, reimbursement or other payments arising under federal and state law and the common law relating to environmental or any other condition of Redevelopment Property. (b) The Authority makes no representations concerning nor shall have any responsibility or obligation to undertake any cleanup or remediation on the Redevelopment Property. If the Redeveloper does not terminate this Agreement pursuant to Section 3.5(a) hereof, following delivery of the Deed, the Redeveloper agrees to remediate any environmental contamination or pollution on the Redevelopment Property that may be required by law. The Redeveloper further agrees to complete all cleanup and remediation on the Redevelopment Property identified in the DEED Grant Agreement, the Environmental Reports, the Phase I Environmental Site Assessment, dated June 30, 2022 (the "Phase I"), and the Planning Development Contract. The Redeveloper acknowledges receipt of the Environmental Reports and the Phase I and Redeveloper waives any claims against the Authority for indemnification, contribution, reimbursement or other payments arising under federal and state law and the common law or relating to the environmental condition of the Redevelopment Property. The Redeveloper acknowledges that the Authority has provided copies of the Phase I and the Environmental Reports, to the Redeveloper, and that the Redeveloper has had sufficient time and opportunity to fully review and consider said document. (c) The Authority has no obligation to produce any evidence of title. The Redeveloper will obtain a commitment for an owner's title insurance policy issued by the Title Company naming Redeveloper as the proposed owner -insured of the Redevelopment Property (the "Commitment") in accordance with Section 3.4 hereof and review copies of all documents referred to in the Commitment. (d) In addition to those rights granted by the Authority to the Redeveloper in that certain Right of Entry Agreement effective July 28, 2022. Redeveloper is hereby granted the right to enter upon and inspect, analyze and test the Redevelopment Property for all reasonable purposes, including conducting soil tests upon 24 hours' notice to the Authority. The Redeveloper shall pay for the cost of all investigations of the Redevelopment Property which are ordered by Redeveloper for purposes of conducting its own investigations of the Redevelopment Property. Redeveloper hereby agrees to indemnify and hold the Authority harmless from any claims, damages, costs and liability, including without limitation reasonable attorneys' fees, resulting from entering upon the Redevelopment Property or the performing of the analysis, tests or inspections referred to in this section. (e) Without limiting its obligations under Section 8.3 hereof, the Redeveloper agrees to indemnify, defend, and hold harmless the Indemnified Parties, from any claims or actions to the extent arising out of any claim related to the presence of hazardous substances on the Redevelopment Property, or any portion thereof, which either (i) arise out of activities of the Redeveloper on the Redevelopment Property, including but not limited to, those activities performed under the DEED Grant Agreement, or (ii) arise out of hazardous substances, asbestos, petroleum substances, or pollutants, irritants or contaminants brought onto the Redevelopment Property by the Redeveloper. In addition, the Redeveloper agrees to release the Indemnified Parties from any and all costs, expenses, losses, liabilities, claims, causes of action, demands, and damages relating to the environmental conditions on the Redevelopment Property as of the date of Closing, including without limitation any claim the Redeveloper may have to recover from all or any of the Indemnified Parties any costs or expenses incurred by the Redeveloper in performing any remediation of the 11 MN190\159\804148.v6 Redevelopment Property. Nothing in this section will be construed to limit or affect any limitations on liability of the City or Authority under State or federal law, including without limitation Minnesota Statutes, Sections 466.04 and 604.02, as amended. Section 3.4 Title. Upon the Effective Date, and as soon as reasonably possible thereafter, Redeveloper shall have the right, but not the obligation, to may obtain (a) a current commitment for the most current ALTA Owner's Policy of Title Insurance for the Redevelopment Property issued by the Title Company (the "Commitment"); and (b) an updated as -built survey of the Redevelopment Property, certified to Redeveloper, its lender and the Title Company (the "Survey") (together with the Commitment referred to herein as the "Title Evidence"). The Redeveloper shall have 30 days from the date of its receipt of the last Title Evidence to review the state of title (including survey matters) to the Redevelopment Property and to provide the Authority with a list of written objections to such title (including survey matters). Objections not made within such time will be deemed waived by Redeveloper and considered "Permitted Exceptions". The Authority shall have 60 days from the date of its receipt of such objection to effect a cure; provided, however, that the Authority shall have no obligation to cure any objections, and may inform the Redeveloper of such. In the event that the Authority has failed to obtain a cure of such objections within 60 days after the date hereof, the Redeveloper may (i) by the giving of written notice to the Authority terminate this Agreement, upon the receipt of which this Agreement shall be null and void and neither party shall have any liability hereunder, or (ii) waive any title objections and proceed to Closing. The Authority shall have no obligation to take any action to clear defects in the title to the Redevelopment Property. The Authority shall take no actions to encumber title to the Redevelopment Property between the Effective Date and the Closing Date. The Authority expressly agrees that it will not cause or permit the attachment of any mechanics, attorneys, or other liens to any portion of the Redevelopment Property prior to the Closing Date. The Redeveloper shall take no actions to encumber title to any portion of the Redevelopment Property between the Effective Date and Closing Date. The Redeveloper expressly agrees that it will not cause or permit the attachment of any mechanics, attorneys, or other liens to any portion of the Redevelopment Property prior to the Closing Date. Notwithstanding termination of this Agreement prior to any Closing, the Redeveloper is obligated to pay all costs to discharge any encumbrances to any portion of the Redevelopment Property attributable to actions of the Redeveloper, its employees, officers, agents or consultants, including without limitation any architect, contractor and or engineer. Section 3.5 Delivery of Documents. The Authority has delivered the Phase I and the Environmental Reports to the Redeveloper and the Redeveloper acknowledges that it has received the Phase I and the Environmental Reports. Section 3.6 Contingencies to Closing on Redevelopment Property. (a) Redeveloper's Contingencies. The Redeveloper's obligation to close on the purchase of the Redevelopment Property is expressly conditioned upon each of the following contingencies being satisfied or waived: 12 MN190\159\804148.v6 (i) Performance of all obligations required to be performed by the Authority under this Agreement as of the Closing Date, including but not limited to, delivery of all of the Authority's Documents described in Section 3.6(b) hereof; (ii) the Redeveloper shall have received all necessary building permits, rezoning, variances, conditional use permits and other permits, municipal approvals, site plans and other approvals, including approval of the final Plat, and the Planned Unit Development District, all of which are needed to permit the construction of the Minimum Improvements and Redeveloper's use and enjoyment of the Redevelopment Property; (iii) the Redeveloper shall have completed such environmental investigation (including soil conditions) with respect to the Redevelopment Property as it deems prudent and in its sole discretion shall be satisfied with the results thereof; (iv) the Redeveloper shall have obtained financing acceptable to the Redeveloper for development of the Minimum Improvements; (v) on the Closing Date, the Title Company shall be irrevocably committed to issue to Redeveloper an owner's policy of title insurance with respect to the Redevelopment Property in form and substance approved by Redeveloper; (vi) the Redeveloper having reviewed and approved (or waived objections to) the Title Evidence and the Due Diligence Documents, and having obtained a commitment from the Title Company acceptable to the Redeveloper to issue a suitable owner's policy for the Redevelopment Property in accordance with Section 3.4 herein; and (vii) the Authority shall have approved the Construction Plans pursuant to section 4.2 hereof. (b) Authority's Contingencies. _ The Authority's obligation to close on the sale of the Redevelopment Property is expressly conditioned upon each of the following contingencies being satisfied or waived: (i) Redeveloper shall have performed all of the obligations required to be performed by the Redeveloper under this Agreement as of the Closing Date, including but not limited to paying all outstanding Administrative Costs in full pursuant to Section 3.13 hereof; (ii) Redeveloper shall have delivered to the Authority all of the Redeveloper's Documents described in Section 3.7(c); (iii) The Authority shall have approved the sale of the Redevelopment Property to the Redeveloper upon satisfaction of all other conditions required by State law; (iv) The Redeveloper shall have submitted the Construction Plans to the Authority and the Authority shall have approved the Construction Plans pursuant to Section 4.2 hereof, (v) The Redeveloper shall have received a building permit for the construction of the Minimum Improvements; 13 MN190\159\804148.v6 (vi) Developer shall have received or the Authority shall have determined that the Redeveloper will receive all necessary rezoning, variances, conditional use permits and other permits, site plan and other approvals needed to permit the construction of the Minimum Improvements including without limitation any needed variances, zoning changes, final Plat approval, and the creation f the Planned Unit Development District; (vii) Redeveloper shall have provided evidence that it has financing for development of the Minimum Improvements satisfactory to the Authority in its sole discretion; (viii) The Authority shall have obtained final Plat approval or obtain the necessary subdivision approvals required for the construction of the Minimum Improvements; (ix) the Authority and the City Council shall have approved a modification to the TIF Plan amending the budget; and (x) The Redeveloper having paid all outstanding Administrative Costs as required by Section 3.14 hereof, and (xi) The Authority shall have determined that the Minimum Improvements to be undertaken by the Redeveloper on the Redevelopment Property is in conformance with this Agreement and the development objectives set forth in the Authorizing Resolution. (c) Authority's and Redeveloper's Options. In the event that any of the foregoing contingencies fail to be satisfied on or before October 10, 2022, the Redeveloper or the Authority, as the case may be, may: (i) terminate this Agreement; or (ii) waive such failure and proceed to close; provided that the contingencies in Section 3.6(a) are solely for the benefit of the Redeveloper and may be waived only by the Redeveloper and the contingencies in Section 3.6(b) are solely for the benefit of the Authority and may be waived only by the Authority; or (iii) the Redeveloper and Authority may mutually agree to extend the Closing Date. Section 3.7 Closing. (a) Time and Place. Subject to the terms and conditions of this Agreement, the Closing on the purchase and sale of the Redevelopment Property shall take place on or before the Closing Date and shall take place at such place which is mutually acceptable to the parties. The Authority shall deliver possession of the Redevelopment Property on the Closing Date. (b) Authority's Documents. At the Closing, the Authority shall execute, where appropriate, and deliver all of the following (collectively the "Authority's Documents"): (i) The Deed, in substantially the form as attached hereto as Schedule B, properly executed on behalf of the Authority conveying the Redevelopment Property to the 14 MN190\159\804148.v6 Redeveloper, together with any other documents reasonably required to be delivered by the Authority. (ii) The Authorizing Resolution; (iii) A transferor's certification stating that Authority is not a "foreign person", "foreign partnership", "foreign trust" or "foreign estate" as those terms are defined in Section 1445 of the Internal Revenue Code, and containing such additional information as may be required thereunder. (iv) A Seller's affidavit in form of acceptable to the Title Company; (v) A well disclosure certificate; (vi) A settlement statement consistent with this Agreement; (vii) The Assessment Agreement; and (viii) Any other documents as may reasonably be required to transfer fee title to the Redevelopment Property to Redeveloper. (c) Redeveloper's Documents. At the Closing, the Redeveloper shall execute, where appropriate, and deliver all of the following "Redeveloper's Documents": (i) The Purchase Price Note; (ii) A sworn construction cost statement executed by the Redeveloper and the general contractor setting forth total Construction Costs of the Minimum Improvements; (iii) Proof of insurance required by this Agreement; (iv) To the extent required and obtainable as of the Closing Date, environmental clearances, subdivision approvals, permits, and any other required governmental approvals for the Minimum Improvements; (v) An affidavit from Redeveloper indicating on the Closing Date that there are no outstanding, unsatisfied judgments, tax liens or bankruptcies against or involving the Redeveloper; that there has been no skill, labor or material furnished to the Redevelopment Property for which payment has not been made or for which mechanic's liens could be filed; (vi) Funds sufficient for payment by the Redeveloper at Closing of the recording charges or fees for all documents which are to be placed on record in accordance with this Agreement, the fee or charge imposed by any closing agent designated by the Title Company, in accordance with the terms herein; (vii) The Construction Documents; (viii) Evidence satisfactory to the Authority that the Redeveloper has sufficient financing to complete the Minimum Improvements; 15 MN190\159\804148.v6 (ix) The Redeveloper's estimate of the total development costs of the Minimum Improvements and sources of revenue to pay such costs and proforma cash flow for the Minimum Improvements; (x) Such other documents as shall be required to carry out the intent of this Agreement; (xi) The Assessment Agreement; and (xii) The Planning Development Contract. Section 3.8 Conveyance Subject to Right of Re-entry. The Authority's conveyance of the Redevelopment Property to the Redeveloper pursuant to this Agreement will be made subject to a right of reentry for breach of a condition subsequent in favor of the Authority. The condition subsequent is that, barring any Unavoidable Delays, the Redeveloper shall have completed or caused to be completed, not later than June 15, 2023, construction of the foundation of the Minimum Improvements on the Redevelopment Property in accordance with permits issued by the City. If Redeveloper fails to satisfy such condition subsequent, the Authority shall provide written notice to the Redeveloper and the Redeveloper shall have 60 days from receipt of the Authority's notice to complete construction of the foundation of the Minimum Improvements, or in the event such default cannot be reasonably cured with a 60 day period, the cure period herein may be extended by a reasonable period of time as determined by the Authority in its sole discretion. Failure to complete construction in such timeframe shall constitute a breach of the condition subsequent and the Redeveloper shall re -convey the Redevelopment Property back to the Authority, without cost to the Authority. If the Redeveloper fails to re -convey the Redevelopment Property to the Authority, the Authority may elect to exercise its right of reentry by commencing an action in Wright County District Court to establish the breach of the condition subsequent. If the Authority establishes a breach of the condition subsequent, title to and the right to possession of the Redevelopment Property and title to all improvements located thereon reverts to the Authority, without cost to the Authority, and the Redeveloper is not entitled to any compensation from the Authority for the value of the Redevelopment Property or any improvements the Redeveloper has made to the Redevelopment Property. The Redeveloper must record the Certificate of Release set forth in the Deed in the proper County land records at its expense. Section 3.9. Advance of Purchase Price Note and Other Costs. At Closing, the Authority will forgo receipt of the full fair market value of the Redevelopment Property, by accepting the Purchase Price Note from the Redeveloper as partial payment for the Redevelopment Property and providing the Land Write Down. The total original principal amount of the Purchase Price Note is $1,351,617.00. The terms of the Purchase Price Note are described in Section 3.2 hereof. The Authority is pledging Purchase Price Note Available Tax Increment to repayment of the Purchase Price Note. The Redeveloper has no rights or interest in the Purchase Price Note Available Tax Increment pledged to the repayment of the Purchase Price Note. The Authority retains the right to use any other Authority funds to prepay the principal of and interest on the Purchase Price Note on any date or to use Purchase Price Note Available Tax Increment to pay ongoing costs of administering the TIF District. 16 MN190\159\804148.v6 Section 3.10. Reimbursement of Public Redevelopment Costs; Issuance of TIF Note. The Authority has determined that, in addition to providing the land write down described in Section 3.2, the Authority Grant and the DEED Grant, in order to make development of the Minimum Improvements financially feasible, it is necessary to reimburse the Redeveloper for a portion of its costs related to site improvements including demolition, grading and excavating, environmental remediation, curb and gutter work, exterior utilities (e.g., stormwater, water, sanitary, electrical), bituminous paving, underground and surface parking, and sidewalks on the Redevelopment Property (the "Public Redevelopment Costs") through the issuance of the TIF Note, subject to the terms of this Section. The total principal amount of Public Redevelopment Costs subject to reimbursement will not exceed $2,867,954.00. Public Redevelopment Costs in excess of the specified total are the responsibility of the Redeveloper. (a) Conditions for Delivery of TIF Note. To reimburse a portion of the Public Redevelopment Costs incurred by Redeveloper, the Authority shall issue and the Redeveloper shall purchase the TIF Note in the maximum principal amount of $2,867,954.00. The Authority shall issue and deliver the TIF Note upon the occurrence of the following: (i) The Redeveloper having delivered to the Authority evidence of Public Redevelopment Costs paid or incurred in at least the principal amount of the Note as well as one or more certificates signed by the Redeveloper's duly authorized representative, containing the following: (A) a statement that each cost identified in the certificate is a Public Redevelopment Cost as defined in this Agreement and that no part of such cost has been included in any previous certification; (B) reasonable evidence that each identified Public Redevelopment Cost has been paid or incurred by or on behalf of the Redeveloper; and (C) a statement that, to the Redeveloper's knowledge, no uncured Event of Default by the Redeveloper has occurred and is continuing under this Agreement; the Authority may, if not satisfied that the conditions described herein have been met, return any certificate with a statement of the reasons why it is not acceptable and requesting such further documentation or clarification as the Authority may reasonably require; (ii) Developer having delivered to the Authority an investment letter in a form reasonably satisfactory to the Authority; and (iii) Developer having received from the Authority the Certificate of Completion for the Minimum Improvements. (b) Terms of TIF Note. The terms of the TIF Note will be substantially in the form shown in Schedule E in the form of the Resolution approving this Agreement and authorizing the TIF Note (the "Authorizing Resolution"), and the TIF Note will be subject to all terms of the Authorizing Resolution, which are incorporated herein by reference. (c) Termination of Right to TIF Note. Notwithstanding anything to the contrary in this Agreement, if the conditions for delivery of the TIF Note are not met by the date five (5) years after certification of the TIF District, the Authority's obligation to deliver the TIF Note shall terminate; provided that the remainder of this Agreement shall remain in full force and effect. 17 MN190\159\804148.v6 (d) Assignment of TIF Note. The Authority acknowledges that the Redeveloper may assign the TIF Note to one or more lenders that provide part of the financing for the construction of the Minimum Improvements. The Authority consents to such an assignment, conditioned upon the satisfaction of the conditions set forth in the Note, the receipt of an investment letter from such third party in a form reasonably acceptable to the Authority and an assignment in a form approved by the Board of Commissioners of the Authority. (e) Qualifications. The Redeveloper understands and acknowledges that the Authority makes no representations or warranties regarding the amount of TIF Note Available Tax Increment, or that revenues pledged to the TIF Note will be sufficient to pay the principal amount of and the interest on the TIF Note. Redeveloper further acknowledges that estimates of Tax Increment prepared by the Authority or its municipal advisors in connection with the TIF District or this Agreement are for the benefit of the Authority, and are not intended as representations on which the Redeveloper may rely. If the Public Redevelopment Costs exceed the maximum aggregate principal amount of the TIF Note, such excess is the sole responsibility of Redeveloper. The TIF Note shall be a special and limited obligation of the Authority and not a general obligation of the Authority or the City, and only TIF Note Available Tax Increments shall be used to pay the principal of the TIF Note. (f) Termination of Payments. The Authority's obligation to make payments on the TIF Note on any Payment Date or any date thereafter shall be conditioned upon the requirement that (i) there shall not at that time be an Event of Default that has occurred and is continuing under this Agreement that has not been cured during the applicable cure period, (ii) this Agreement shall not have been terminated pursuant to Section 9.2, and (iii) a certificate of occupancy has been issued for the Minimum Improvements. Section 3.11 DEED Grant Assistance. (a) At the Redeveloper's request, the Authority has applied for and received the DEED Grant to finance a portion of the demolition and hazardous materials removal work on the Redevelopment Property in an amount not to exceed $517,500.00 pursuant to the DEED Grant Agreement (the "DEED Redevelopment Costs"). The Authority shall assign its rights to reimbursement under the DEED Grant Agreement, or otherwise will pay or reimburse the Redeveloper for the DEED Redevelopment Costs from and to the extent of the grant proceeds received in accordance with the terms of the DEED Grant Agreement and the terms of this Section. Notwithstanding anything to the contrary herein, if the DEED Redevelopment Costs exceed the amount to be reimbursed under this Section pursuant to the DEED Grant, such excess shall be the sole responsibility of the Redeveloper (except to the extent reimbursable under the TIF Note and the Authority Grant). The Redeveloper acknowledges and agrees that all terms, conditions and obligations contained in the DEED Grant Agreement are incorporated herein, and made a part of this Agreement. The Redeveloper shall comply in all respects with the requirements of the DEED Grant Agreement as if it were the "Grantee" thereunder. (b) All disbursements pursuant to the DEED Grant will be made subject to the conditions precedent that on the date of such disbursement: (1) The Authority has received a written statement from the Redeveloper's authorized representative certifying with respect to each payment: (a) that none of the items for 18 MN190\159\804148.v6 which the payment is proposed to be made has formed the basis for any payment previously made under this Section or this Agreement (or before the date of this Agreement); (b) that each item for which the payment is proposed is a DEED Redevelopment Cost; and (c) that the Redeveloper reasonably anticipates completion of the DEED Redevelopment Costs and the Minimum Improvements in accordance with the terms of this Agreement. (2) No Event of Default under this Agreement or the Planning Development Contract or event which would constitute such an Event of Default but for the requirement that notice be given or that a period of grace or time elapse, shall have occurred and be continuing. (3) No license or permit necessary for undertaking the DEED Redevelopment Costs or constructing the Minimum Improvements shall have been revoked or the issuance thereof subjected to challenge before any court or other governmental authority having or asserting jurisdiction thereover. (4) The Redeveloper has submitted, and the Authority has approved, the Construction Plans for the Minimum Improvements in accordance with Article IV hereof and the City has issued a building permit for the Minimum Improvements. (5) All requirements of the DEED Grant Agreement that are to be performed or complied with by the Redeveloper prior to the date of such disbursement have been met. (6) The Redeveloper has included in any contract or subcontract for the DEED Redevelopment Costs appropriate provisions to ensure contractor or subcontractor compliance with all applicable state and federal laws and the requirements of the Grant Agreement. Along with such provisions, the Redeveloper shall require that contractors and subcontractors performing work covered by this grant obtain all required permits, licenses, and certifications, and comply with all applicable state and federal Occupational Safety and Health Act regulations, especially the federal Hazardous Waste Operations and Emergency Response standards under Code of Federal Regulations, Title 29, Sections 1910.120 and 1926.65. Further all such contracts shall include necessary language to make clear that no such grant funds may be used, treated, or converted into any type of loan. (7) The Authority must certify to DEED that all contractors and subcontractors have been paid and that the work performed is determined to be satisfactory. The Redeveloper will provide a certification to the Authority that all contractors and subcontractors have been paid and that the work performed is determined to be satisfactory prior to seeking reimbursement for any related costs. (c) Whenever the Redeveloper desires a disbursement to be made hereunder, which shall be no more often than monthly, the Redeveloper shall submit to the Authority a draw request in the form attached as Schedule F duly executed on behalf of the Redeveloper accompanied by paid invoices or other comparable evidence that the cost has been incurred and paid or is payable by Redeveloper. Each draw request shall constitute a representation and warranty by the Redeveloper that all representations and warranties set forth in this Agreement are true and correct as of the date of such draw request. Such draw request shall also include all information required by the DEED Grant Agreement. 19 MN190\159\804148.v6 (d) If the Redeveloper has performed all of its agreements and complied with all requirements theretofore to be performed or complied with hereunder, the Authority shall submit such request to DEED, and make a disbursement to the Redeveloper in the amount of the requested disbursement or such lesser amount as shall be approved upon receipt of DEED Grant. Each disbursement shall be paid from the proceeds of the grant and is subject to the DEED's determination that the relevant DEED Redevelopment Costs is payable from the DEED Grant under the DEED Grant Agreement. Eligibility for reimbursement of any and all expenditures made by the Redeveloper is solely within the discretion of DEED and as represented in the DEED Grant Agreement, and the Redeveloper shall be solely responsible for providing adequate documentation for reimbursement pursuant to the terms of the DEED Grant Agreement. The Redeveloper understands and agrees that any reduction or termination of funds made available to DEED from the Redevelopment Grant Program may result in a like reduction in the amount of the grant proceeds that will be made available to the Redeveloper pursuant to this Agreement. Pursuant to Section 7.01 of the DEED Grant Agreement, the parties agree that none of the grant funds may be made available to any subgrantee or subrecipient without the prior written consent of DEED. The Authority has no obligation to provide proceeds of the DEED Grant unless and until such funds are disbursed by DEED. (e) The making of the final disbursement by the Authority under this Section shall be subject to the condition precedent that the Redeveloper shall be in compliance with all conditions set forth in this Section and further, that the Authority shall have received a lien waiver from each contractor for all work done and for all materials furnished by it for the DEED Redevelopment Costs. (f) Minnesota Statutes, § 116L.66, subd. 1, requires a business or private enterprise to list any vacant or new positions with the state workforce center if an entity receives $200,000 or more a year in grants from the State. The Redeveloper agrees to list all job vacancies in the Redeveloper's personnel complement with MinnesotaWorks.net at www.minnesotaworks.net. (g) Without limiting its obligations under Section 8.3 hereof, the Redeveloper agrees to indemnify, defend, and hold harmless the Indemnified Parties from any claims or causes of action, including attorney's fees incurred by the Indemnified Parties, arising from the performance of the DEED Grant Agreement by the Redeveloper, or its officers, agents or employees. The Redeveloper will further indemnify, defend, and hold harmless the Indemnified Parties from any claims or causes of action, including attorney's fees incurred by the Indemnified Parties, arising from the performance of or any obligations under the DEED Grant Agreement, including without limitation any obligation to pay or repay any amounts to DEED. The Redeveloper further covenants and agrees to repay the DEED Grant to DEED, should the Authority be required to repay the DEED Grant pursuant Minnesota Statutes 116J.575, subdivision 4 or the DEED Grant Agreement. The Redeveloper shall repay any amounts required under this paragraph (g) upon 30 days of a written request from the Authority. Section 3.12 Other Assistance. In addition to the reimbursement of a portion of Redeveloper's Public Redevelopment Costs through issuance of the TIF Note and the reimbursement of a portion of the Redeveloper's DEED Redevelopment Costs with the proceeds of the DEED Grant, the Authority will reimburse a portion of the Redeveloper's redevelopment costs and additional environmental investigation costs detailed in Schedule G (the "Authority Grant Costs") to be undertaken on the Redevelopment Property, pursuant to and in conformity with the Authority's Policy Statements for Management of Available Tax Increment Financing Funds, adopted by the 20 MN190\159\804148.v6 Authority on January 10, 2018, the 2022 Pooled TIF Allocation Plan, adopted on May 25, 2022 and the TIF Act. The grant shall be in the amount of $367,400 (the "Authority Grant") and shall be disbursed to the Redeveloper upon the occurrence of the following: (i) The Redeveloper having delivered to the Authority evidence of Authority Grant Costs paid or incurred in at least the principal amount of the Note as well as one or more certificates signed by the Redeveloper's duly authorized representative, containing the following: (A) a statement that each cost identified in the certificate is a Authority Grant Cost as defined in this Agreement and that no part of such cost has been included in any previous certification; (B) reasonable evidence that each identified Authority Grant Cost has been paid or incurred by or on behalf of the Redeveloper; and (C) a statement that, to the Redeveloper's knowledge, no uncured Event of Default by the Redeveloper has occurred and is continuing under this Agreement; the Authority may, if not satisfied that the conditions described herein have been met, return any certificate with a statement of the reasons why it is not acceptable and requesting such further documentation or clarification as the Authority may reasonably require; and (ii) The Redeveloper having received from the Authority the Certificate of Completion for the Minimum Improvements; and (iii) The Authority has received evidence that the projects for which the Authority Grant are being provided have been constructed and accepted by the City and the Authority has confirmed that the Redeveloper is in compliance with Planning Development Contract, including but not limited to the provisions therein relating to the projects consisting of the Authority Grant Costs. The Redeveloper shall be responsible for all Authority Grant Costs in excess of $367,400. Section 3.13 Business Subsidy Act. (a) Public Purpose. In order to satisfy the provisions of the Business Subsidy Act, the Redeveloper acknowledges and agrees that the amount of the "Business Subsidy" granted to the Redeveloper under this Agreement is the TIF Note, the Purchase Price Note, the Land Write Down, the DEED Grant, and the Authority Grant, and that the Business Subsidy is needed because the construction of the Minimum Improvements is not sufficiently feasible for the Redeveloper to undertake without the Business Subsidy due to the extraordinary costs of land acquisition, demolition, hazardous material remediation, and site improvements necessary to construct the Minimum Improvements on the proposed site. The public purpose of the Business Subsidy is to redevelop land in the City's downtown which is underutilized or characterized by blight, increase the tax base of the City and the State, increase jobs in the City and State (including construction jobs), and help provide a range of housing options in the City. (b) Operation of Site. The Redeveloper must continue operation of the Minimum Improvements as a mixed-use development (the "Qualified Facility") for at least 5 years after the Benefit Date (defined hereinafter), subject to the continuing obligation described in Section 10.3 of this Agreement. The improvements will be a Qualified Facility as long as the Minimum Improvements is operated by the Redeveloper for the aforementioned qualified uses. During any 21 MN190\159\804148.v6 period when the Minimum Improvements is vacant and not operated for the aforementioned qualified uses, the Minimum Improvements will not constitute a Qualified Facility. (c) Job and Wage Goals. The "Benefit Date" of the assistance provided in this Agreement is the earlier of the date of issuance of the Certificate of Completion or the date the Minimum Improvements is occupied by Redeveloper. By or before the "Compliance Date", defined as the date two years after the Benefit Date, the Redeveloper shall cause to be created at least 45 full- time jobs permanent to the Redevelopment Property. The Redeveloper shall cause the hourly wage of the new jobs to be at least $12.39 per hour, with benefits equal to at least $1.75 per hour. Notwithstanding anything to the contrary herein, if the wage and job goals described in this paragraph are met by the Compliance Date, those goals are deemed satisfied despite the Redeveloper's continuing obligations under Sections 3.12(b). The Authority may, after a public hearing, extend the Compliance Date by up to one year, provided that nothing in this section will be construed to limit the Authority's legislative discretion regarding this matter. (d) Remedies. If the Redeveloper fails to meet the goals described in Section 3.13(b) and 3.13(c), the Redeveloper shall repay to the Authority upon written demand from the Authority a "pro rata share" of the outstanding principal amount of the TIF Note and the Authority Grant together with interest on that amount at the implicit price deflator as provided in Section 116J.994, subd. 6 of the Business Subsidy Act, accrued from the date of substantial completion of the Minimum Improvements to the date of payment. The term "pro rata share" means percentages calculated as follows: (i) if the failure relates to the number of jobs, the jobs required less the jobs created, divided by the jobs required; (ii) if the failure relates to wages, the number of jobs required less the number of jobs that meet the required wages, divided by the number of jobs required; (iii) if the failure relates to maintenance of the facility as a Qualified Facility in accordance with Section 3.12(b) 60 less the number of months of operation as a Qualified Facility (where any month in which the Qualified Facility is in operation for at least 15 days constitutes a month of operation), commencing on the Benefit Date and ending with the date the Qualified Facility ceases operation as determined by the Authority Representative, divided by 60; and (iv) if more than one of clauses (i) through (iii) apply, the sum of the applicable percentages, not to exceed 100%. Nothing in this Section shall be construed to limit the Authority's remedies under Article VIII hereof. In addition to the remedy described in this Section and any other remedy available to the Authority for failure to meet the goals stated in Section 3.13), the Redeveloper agrees and understands that it may not receive a business subsidy from the Authority or any grantor (as defined in the Business Subsidy Act) for a period of 5 years from the date of the failure or until the Redeveloper satisfies its repayment obligation under this Section, whichever occurs first. 22 MN190\159\804148.v6 (e) Reports. The Redeveloper must submit to the Authority a written report regarding business subsidy goals and results by no later than February 1 of each year, commencing February 1, 2024 and continuing until the later of (i) the date the goals stated in Section 3.13(b) and (c) are met; (ii) 30 days after expiration of the period described in Section 3.13(b); or (iii) if the goals are not met, the date the subsidy is repaid in accordance with Section 3.13(d). The report must comply with Section 116J.994, subdivision 7 of the Business Subsidy Act. The Authority will provide information to the Redeveloper regarding the required forms. If the Redeveloper fails to timely file any report required under this Section, the Authority will mail the Redeveloper a warning within one week after the required filing date. If, after 14 days of the postmarked date of the warning, the Redeveloper fails to provide a report, the Redeveloper must pay to the Authority a penalty of $100 for each subsequent day until the report is filed. The maximum aggregate penalty payable under this Section is $1,000. (f) Other assistance. There are no other state or local government agencies providing financial assistance for the Minimum Improvements other than the Authority and DEED, which is providing the DEED Grant. (g) Parent Corporation. The Redeveloper's parent corporation is [ 1 Section 3.14. Payment of Administrative Costs. The Redeveloper is responsible for the payment of all "Administrative Costs" which term means out of pocket costs incurred by the Authority together with staff costs of the Authority, all attributable to or incurred in connection with the negotiation and preparation of this Agreement, the TIF Plan, and other documents and agreements in connection with the development of the Redevelopment Property. On the Closing Date, the Redeveloper shall pay all outstanding Administrative Costs. The Redeveloper is obligated to pay such Administrative Costs within twenty (20) days after receipt of a written notice from the Authority containing evidence of the unpaid costs. If any balance of funds deposited remains upon issuance of the Certificate of Completion pursuant to Section 4.4 of this Agreement, the Authority shall promptly return such balance to Redeveloper; provided that Redeveloper remains obligated to pay subsequent Administrative Costs related to any amendments to this Agreement requested by Redeveloper. Upon termination of this Agreement in accordance with its terms, the Redeveloper remains obligated under this section for Administrative Costs. Section 3.15. Assessment Agreement. Execution of Assessment Agreement. (a) The Redeveloper and the Authority agree to execute an Assessment Agreement relating to the Minimum Improvements pursuant to the provisions of Minnesota Statutes, Section 469.177, subdivision 8, specifying the minimum market value for the Redevelopment Property for calculation of real property taxes. Specifically, the Redeveloper shall agree to a market value for the Redevelopment Property of $18,500,000 commencing as of January 2, 2024 (the "Minimum Market Value"). (b) Nothing in the Assessment Agreement or this Agreement limits the discretion of the County Assessor to assign a market value to the property in excess of the Minimum Market Value nor prohibits the Redeveloper from seeking, through the exercise of legal or administrative remedies, a reduction in such market value for property tax purposes; provided however, the Redeveloper shall 23 MN190\159\804148.v6 not seek a reduction of such market value below the Minimum Market Value for any year so long as the Assessment Agreement remains in effect for that year. (c) The Assessment Agreement shall remain in effect until the earlier of (i) January 31, 2051, or (ii) the date on which the TIF District expires or is otherwise terminated. (d) The Assessment Agreement shall be certified by the County Assessor as provided in Section 469.177, subdivision 8 of the TIF Act, upon a finding by the County Assessor that the Minimum Market Value represents a reasonable estimate based upon the plans and specifications for the Minimum Improvements to be constructed on the Redevelopment Property and the market value previously assigned to the Redevelopment Property. (e) Pursuant to Section 469.177, subdivision 8 of the TIF Act, the Assessment Agreement shall be filed for record in the office of the county recorder or registrar of titles of the County, and such filing shall constitute notice to any subsequent encumbrancer or purchaser of the Redevelopment Property, whether voluntary or involuntary, and such Assessment Agreement shall be binding and enforceable in its entirety against any such subsequent purchaser or encumbrancer, including the holder of any mortgage on the Redevelopment Property. (f) The Assessment Agreement shall be filed, at the sole cost of the Redeveloper, against the Redevelopment Property prior to any lien or encumbrance on the Redevelopment Property, including any mortgage. 24 MN190\159\804148.v6 ARTICLE IV Construction of Minimum Improvements Section 4.1. Construction of Minimum Improvements. The Redeveloper agrees that it will construct the Minimum Improvements on the Redevelopment Property, in accordance with the approved Construction Plans, and will operate and maintain, preserve and keep the Minimum Improvements or cause the Minimum Improvements to be maintained, preserved and kept with the appurtenances and every part and parcel thereof, in good repair and condition. Section 4.2 Construction Plans. (a) Before commencement of construction of the Minimum Improvements, the Redeveloper shall submit the Construction Plans to the Authority. The Construction Plans shall provide for the construction of the Minimum Improvements, as applicable, and shall be in conformity with this Agreement and all applicable State and local laws and regulations. The Authority will approve such Construction Plans in writing if. (i) such Construction Plans conform to the terms and conditions of this Agreement and the Planning Development Contract; (ii) such Construction Plans conform to all applicable federal, state and local laws, ordinances, rules and regulations; (iii) such Construction Plans are adequate to provide for construction of the Minimum Improvements; and (iv) no Event of Default has occurred and remains uncured. No approval by the Authority shall relieve the Redeveloper of the obligation to comply with the terms of this Agreement, the Planning Development Contract, applicable federal, state and local laws, ordinances, rules and regulations, or to construct the Minimum Improvements in accordance therewith. No approval by the Authority shall constitute a waiver of an Event of Default or waiver of any State or City building or other code requirements that may apply. If approval of the Construction Plans is requested by the Redeveloper in writing at the time of submission, such Construction Plans shall be deemed approved unless rejected in writing by the Authority, in whole or in part. Such rejections shall set forth in detail the reasons therefor, and shall be made within 30 days after the date of their receipt by the Authority. If the Authority rejects any Construction Plans in whole or in part, the Redeveloper shall submit new or corrected Construction Plans within 30 days after written notification to the Redeveloper of the rejection. The provisions of this Section relating to approval, rejection and resubmission of corrected Construction Plans shall continue to apply until the Construction Plans have been approved by the Authority. The Authority's approval shall not be unreasonably withheld. Said approval shall constitute a conclusive determination that the Construction Plans (and the Minimum Improvements, constructed in accordance with said plans) comply to the Authority's satisfaction with the provisions of this Agreement relating thereto. (b) The Redeveloper hereby waives any and all claims and causes of action whatsoever resulting from the review of the Construction Plans by the Authority and/or any changes in the Construction Plans requested by the Authority. Neither the Authority nor any employee or official of the Authority shall be responsible in any manner whatsoever for any defect in the Construction Plans or in any work done pursuant to the Construction Plans, including changes requested by the Authority. 25 MN190\159\804148.v6 (c) If the Redeveloper desires to make any material change in the Construction Plans after their approval by the Authority, the Redeveloper shall submit the proposed change to the Authority for its approval. If the Construction Plans, as modified by the proposed change, conform to the requirements of this Section with respect to such previously approved Construction Plans, the Authority shall approve the proposed change and notify the Redeveloper in writing of its approval. Such change in the Construction Plans shall, in any event, be deemed approved by the Authority unless rejected, in whole or in part, by written notice by the Authority to the Redeveloper, setting forth in detail the reasons therefor. Such rejection shall be made within 30 days after receipt of the notice of such change. The Authority's approval of any such change in the Construction Plans will not be unreasonably withheld. Nothing in this paragraph will relieve the Redeveloper of the obligation to comply with any City ordinances or procedures regarding changes in Construction Plans, and any approvals by the Authority hereunder will not constitute approval by any Authority officials regarding any City requirement related to construction of the Minimum Improvements. (d) The approval of the Construction Plans, or any proposed amendment to the Construction Plans, by the Authority does not constitute a representation or warranty by the Authority that the Construction Plans or the Minimum Improvements comply with any applicable building code, health or safety regulation, zoning regulation, environmental law, labor law or regulation, or other law or regulation, or that the Minimum Improvements will meet the qualifications for issuance of a certificate of occupancy, or that the Minimum Improvements will meet the requirements of the Redeveloper or any other users of the Minimum Improvements. Approval of the Construction Plans, or any proposed amendment to the Construction Plans, by the Authority will not constitute a waiver of an Event of Default. Nothing in this Agreement shall be construed to relieve the Redeveloper of its obligations to receive any required approval of the Construction Plans from any City department. Section 4.3 Commencement and Completion of Construction. (a) Subject to Unavoidable Delays, the Redeveloper must commence construction of the Minimum Improvements not later than November 10, 2022. The construction of the Minimum Improvements shall be deemed to be commenced when physical improvements have been made to the Redevelopment Property, including grading, excavation, or other physical site preparation work (in accordance with a permit issued by the City). (b) Subject to Unavoidable Delays, the Redeveloper must substantially complete construction of all Minimum Improvements by November 30, 2024. The construction of the Minimum Improvements will be considered substantially complete on the date when (i) the Redeveloper has received a temporary or permanent certificate of occupancy issued by the City for the Minimum Improvements, as applicable, and (ii) the Authority has determined the Minimum Improvements have been constructed substantially in accordance with the approved Construction Plans as provided in Section 4.2 and the City has determined that the Minimum Improvements have been constructed substantially in accordance with the Planning Development Contract. Completion shall be evidenced by a Certificate of Completion as described in Section 4.4. (c) Developer agrees for itself, its successors and assigns, and every successor in interest to the Redevelopment Property, or any part thereof, that the Redeveloper, and such successors and assigns, shall promptly begin and diligently prosecute to completion the development of the Redevelopment Property through the construction of the Minimum Improvements thereon, and that 26 MN190\159\804148.v6 such construction shall in any event be commenced and completed within the period specified in this Section 4.3. Subsequent to conveyance of the Redevelopment Property, or any part thereof, to the Redeveloper, and until construction of the Minimum Improvements has been completed, the Redeveloper shall make reports, in such detail and at such times as may reasonably be requested by the Authority, as to the actual progress of the Redeveloper with respect to such construction. Notwithstanding the forgoing, such requests made by the Authority shall be limited to once per month. (d) If the Redeveloper does not complete construction of the Minimum Improvements in accordance with the schedule set forth in Section 4.3 hereof, the Redeveloper shall repay the principal amount of the Purchase Price Note and the Land Write Down in full. The Redeveloper shall pay the Purchase Price Note and the Land Write Down within 60 days of written request from the Authority. Section 4.4 Certificate of Completion. At the request of the Redeveloper, the Authority will issue a Certificate of Completion in accordance with this Section. The Redeveloper may notify the Authority when construction of the Minimum Improvements has been substantially completed. The Authority shall, within 20 days after such notification, inspect the Minimum Improvements in order to determine whether the Minimum Improvements have been substantially completed and constructed in accordance with all local, state and federal laws and regulations (including without limitation environmental, labor, zoning, building code, housing code, and public health laws and regulations), and any applicable permits and in substantial conformity with this Agreement, the Planning Development Contract and the final Construction Plans approved by the Authority. Section 4.5. Records and Reports. (a) The Authority, through any authorized representatives, shall have the right at all reasonable times after reasonable written notice to inspect, examine and copy all books and records of Redeveloper relating to the Minimum Improvements that are reasonably relevant to the Redeveloper's obligations under this Agreement. Such records shall be kept and maintained by Redeveloper through the Termination Date. Notwithstanding the foregoing, such audit rights contained herein shall be limited to one request per month. (b) Upon request, the Redeveloper also agrees to submit to the Authority written reports so as to allow the Authority to remain in compliance with reporting requirements under state statutes. Section 4.6. Compliance with Environmental Requirements. (a) The Redeveloper shall comply with all applicable local, state, and federal environmental laws and regulations, and will obtain, and maintain compliance under, any and all necessary environmental permits, licenses, approvals or reviews. (b) The Authority makes no warranties or representations regarding, nor does it indemnify the Redeveloper with respect to, the existence or nonexistence on or in the vicinity of the Redevelopment Property or anywhere within the TIF District of any toxic or hazardous substances or wastes, pollutants or contaminants (including, without limitation, asbestos, urea formaldehyde, the group of organic compounds known as polychlorinated biphenyls, petroleum products including gasoline, fuel oil, crude oil and various constituents of such products, or any hazardous substance as 27 MN190\159\804148.v6 defined in the Comprehensive Environmental Response, Compensation and Liability Act of 1980 ("CERCLA"), 42 U.S.C. §§ 961-9657, as amended) (collectively, the "Hazardous Substances") and Redeveloper waives any claims against the Authority for indemnification, contribution, reimbursement or other payments arising under federal and state law and the common law or relating to the environmental condition of the land comprising the Redevelopment Property. (c) The Redeveloper agrees to take all necessary action to remove or remediate any Hazardous Substances located on the Redevelopment Property to the extent required by and in accordance with all applicable local, state and federal environmental laws and regulations, and the Environmental Reports and the Phase I. (d) The Redeveloper acknowledges receipt of the Environmental Reports and the Phase I covering the Redevelopment Property and Redeveloper waives any claims against the Authority for indemnification, contribution, reimbursement or other payments arising under federal and state law and the common law or relating to the environmental condition of the land comprising the Redevelopment Property. Section 4.7. Planning Development Contract. The Redeveloper shall at all times comply with the Planning Development Contract. (The remainder of this page is intentionally left blank.) 28 MN190\159\804148.v6 ARTICLE V IncnranrP Section 5.1. Insurance. (a) The Redeveloper will provide and maintain at all times during the process of constructing the Minimum Improvements an All Risk Broad Form Basis Insurance Policy and, from time to time during that period, at the request of the Authority, furnish the Authority with proof of payment of premiums on policies covering the following: (i) Builder's risk insurance, written on the so-called "Builder's Risk -- Completed Value Basis," in an amount equal to one hundred percent (100%) of the insurable value of the Minimum Improvements at the date of completion, and with coverage available in nonreporting form on the so-called "all risk" form of policy. The interest of the Authority shall be protected in accordance with a clause in form and content satisfactory to the Authority; (ii) Commercial general liability insurance (including operations, contingent liability, operations of subcontractors, completed operations, and contractual liability insurance) together with an Owner's Policy with limits against bodily injury and property damage of not less than $1,000,000 for each occurrence (to accomplish the above -required limits, an umbrella excess liability policy may be used). The Authority shall be listed as an additional insured on the policy; and (iii) Workers' compensation insurance, with statutory coverage, provided that the Redeveloper may be self-insured with respect to all or any part of its liability for workers' compensation. (b) Upon completion of construction of the Minimum Improvements and prior to the Termination Date, the Redeveloper shall maintain, or cause to be maintained, at its cost and expense, and from time to time at the request of the Authority shall furnish proof of the payment of premiums on, insurance as follows: (i) Insurance against loss and/or damage to the Minimum Improvements under a policy or policies covering such risks as are ordinarily insured against by similar businesses. (ii) Commercial general public liability insurance, including personal injury liability (with employee exclusion deleted), against liability for injuries to persons and/or property, in the minimum amount for each occurrence and for each year of $1,000,000, and shall be endorsed to show the City and Authority as additional insureds. (iii) Such other insurance, including workers' compensation insurance respecting all employees of the Redeveloper, in such amount as is customarily carried by like organizations engaged in like activities of comparable size and liability exposure; provided 29 MN190\159\804148.v6 that the Redeveloper may be self-insured with respect to all or any part of its liability for workers' compensation. (c) All insurance required in Article V of this Agreement shall be taken out and maintained in responsible insurance companies selected by the Redeveloper that are authorized under the laws of the State to assume the risks covered thereby. Upon request, the Redeveloper will deposit annually with the Authority policies evidencing all such insurance, or a certificate or certificates or binders of the respective insurers stating that such insurance is in force and effect. Unless otherwise provided in this Article V of this Agreement each policy shall contain a provision that the insurer shall not cancel nor modify it in such a way as to reduce the coverage provided below the amounts required herein without giving written notice to the Redeveloper and the Authority at least 30 days before the cancellation or modification becomes effective. In lieu of separate policies, the Redeveloper may maintain a single policy, blanket or umbrella policies, or a combination thereof, having the coverage required herein, in which event the Redeveloper shall deposit with the Authority a certificate or certificates of the respective insurers as to the amount of coverage in force upon the Minimum Improvements. (d) The Redeveloper agrees to notify the Authority immediately in the case of damage exceeding $250,000 in amount to, or destruction of, the Minimum Improvements or any portion thereof resulting from fire or other casualty. In such event the Redeveloper will forthwith repair, reconstruct, and restore the Minimum Improvements to substantially the same or an improved condition or value as it existed prior to the event causing such damage and, to the extent necessary to accomplish such repair, reconstruction, and restoration, the Redeveloper will apply the net proceeds of any insurance relating to such damage received by the Redeveloper to the payment or reimbursement of the costs thereof. The Redeveloper shall complete the repair, reconstruction, and restoration of the Minimum Improvements, regardless of whether the net proceeds of insurance received by the Redeveloper for such purposes are sufficient to pay for the same. Any net proceeds remaining after completion of such repairs, construction, and restoration shall be the property of the Redeveloper. (e) In lieu of the Redeveloper's obligation to reconstruct the Minimum Improvements as set forth in this Section, the Redeveloper shall have the option of terminating the TIF Note and paying to the Authority an amount that, in the opinion of the Authority and its fiscal consultant, is sufficient to pay in full the outstanding principal and accrued interest on the Purchase Price Note and repay the Authority Grant and the Land Write Down. (f) The Redeveloper and the Authority agree that all of the insurance provisions set forth in this Article V shall terminate upon the termination of this Agreement. Section 5.2. Subordination. Notwithstanding anything to the contrary contained in this Article V, the rights of the Authority with respect to the receipt and application of any proceeds of insurance shall, in all respects, be subject and subordinate to the rights of any lender under a Mortgage approved pursuant to Article VII of this Agreement. 30 MN190\159\804148.v6 ARTICLE VI Delinauent Taxes and Review of Taxes Section 6.1. Right to Collect Delinquent Taxes. The Redeveloper agrees for itself, its successors, and assigns, that in addition to the obligation pursuant to statute to pay real estate taxes, it is also obligated by reason of this Agreement to pay before delinquency all real estate taxes assessed against the Redevelopment Property and the Minimum Improvements. The Redeveloper acknowledges that this obligation creates a contractual right on behalf of the Authority through the Termination Date to sue the Redeveloper or its successors and assigns to collect delinquent real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit in which the Authority is the prevailing party, the Authority shall also be entitled to recover its costs, expenses, and reasonable attorney fees. Section 6.2. Review of Taxes. The Redeveloper agrees that prior to the Termination Date, it will not cause a reduction in the real property taxes paid in respect of the Redevelopment Property through: (a) willful destruction of the Minimum Improvements or any part thereof; (b) willful refusal to reconstruct damaged or destroyed property pursuant to Section 5.1 of this Agreement, except as otherwise provided in Section 5.1(e); or (c) engaging in any other proceedings, whether legal, administrative or equitable, with any administrative body in the County or State or court of the State or federal government to reduce the amount of real estate or other taxes assessed against the Redevelopment Property or the Minimum Improvements. The Redeveloper also agrees that it will not, prior to the Termination Date, apply for a deferral of property tax on the Redevelopment Property pursuant to any law, or transfer or permit transfer of the Redevelopment Property to any entity whose ownership or operation of the property would result in the Redevelopment Property being exempt from real estate taxes under State law. (The remainder of this page is intentionally left blank.) 31 MN190\159\804148.v6 ARTICLE VII Financing Section 7.1. Financing. (a) Before conveyance of the Redevelopment Property, the Redeveloper shall submit to the Authority evidence of one or more commitments for mortgage financing which, together with committed equity for such construction, is sufficient for the construction of the Minimum Improvements. Such commitments may be submitted as short term financing, long term mortgage financing, a bridge loan with a long-term take-out financing commitment, or any combination of the foregoing. (b) If the Authority finds that the mortgage financing is sufficiently committed and adequate in amount to provide for the construction of the Minimum Improvements, then the Authority shall notify the Redeveloper in writing of its approval. Such approval shall not be unreasonably withheld and either approval or rejection shall be given within 30 days from the date when the Authority is provided the evidence of financing. A failure by the Authority to respond to such evidence of financing shall be deemed to constitute an approval hereunder. If the Authority rejects the evidence of financing as inadequate, it shall do so in writing specifying the basis for the rejection. In any event the Redeveloper shall submit adequate evidence of financing within 30 days after such rejection. Section 7.2. Authority's ption to Cure Default on Mortgage. In the event that there occurs a default under any Mortgage authorized pursuant to Article VII of this Agreement, the Redeveloper shall cause the Authority to receive copies of any notice of default received by the Redeveloper from the holder of such Mortgage. Thereafter, the Authority shall have the right, but not the obligation, to cure any such default on behalf of the Redeveloper within such cure periods as are available to the Redeveloper under the Mortgage documents. 32 MN190\159\804148.v6 ARTICLE VIII Prohibitions Against Assignment and Transfer; Indemnification Section 8.1. Representation as to Redevelopment. The Redeveloper represents and agrees that its purchase of the Redevelopment Property, and its other undertakings pursuant to this Agreement, are, and will be used, for the purpose of redevelopment of the Redevelopment Property and not for speculation in land holding. Section 8.2. Prohibition Against Redeveloper's Transfer of Property and Assignment of Agreement. The Redeveloper represents and agrees that until the Termination Date: (a) Except only by way of security for, and only for and the purpose of obtaining financing necessary to enable the Redeveloper or any successor in interest to the Redevelopment Property, or any part thereof, to perform its obligations with respect to making the Minimum Improvements under the Agreement, and any other purpose authorized by this Agreement, the Redeveloper has not made or created and will not make or create or suffer to be made or created any total or partial sale, assignment, conveyance, or lease, or any trust or power, or transfer in any other mode or form of or with respect to this Agreement or the Redevelopment Property or any part thereof or any interest therein, or any contract or agreement to do any of the same, to any person or entity (collectively, a "Transfer"), without the prior written approval of the Authority's board of commissioners, which may not be unreasonably withheld or delayed, subject to Section 8.2(b). The term "Transfer" does not include (i) encumbrances made or granted by way of security for, and only for, the purpose of obtaining construction, interim or permanent financing necessary to enable the Redeveloper or any successor in interest to the Redevelopment Property or to construct the Minimum Improvements or component thereof; (ii) any lease, license, easement or similar arrangement entered into in the ordinary course of business related to operation of the Minimum Improvements; or (iii) an assignment or other transfer to an Affiliate. (b) In the event the Redeveloper, upon Transfer of the Redevelopment Property, seeks to be released from its obligations under this Agreement, the Authority shall be entitled to require, except as otherwise provided in this Agreement, as conditions to any such Transfer that: (i) Any proposed transferee shall have the qualifications and financial responsibility, in the reasonable judgment of the Authority, necessary and adequate to fulfill the obligations undertaken in this Agreement and the Purchase Price Note by the Redeveloper. (ii) Any proposed transferee, by instrument in writing satisfactory to the Authority and in form recordable among the land records, shall, for itself and its successors and assigns, and expressly for the benefit of the Authority, have expressly assumed all of the obligations of the Redeveloper under this Agreement (including the Purchase Price Note) and agreed to be subject to all the conditions and restrictions to which the Redeveloper is subject; provided, however, that the fact that any transferee of, or any other successor in interest whatsoever to, the Redevelopment Property, or any part thereof, shall not, for whatever reason, have assumed such obligations or so agreed, and shall not (unless and only to the extent otherwise specifically provided in this Agreement or agreed to in writing by the Authority) deprive the 33 MN190\159\804148.v6 Authority of any rights or remedies or controls with respect to the Redevelopment Property or any part thereof or the construction of the Minimum Improvements; it being the intent of the parties as expressed in this Agreement that (to the fullest extent permitted at law and in equity and excepting only in the manner and to the extent specifically provided otherwise in this Agreement) no transfer of, or change with respect to, ownership in the Redevelopment Property or any part thereof, or any interest therein, however consummated or occurring, and whether voluntary or involuntary, shall operate, legally or practically, to deprive or limit the Authority of or with respect to any rights or remedies on controls provided in or resulting from this Agreement with respect to the Minimum Improvements that the Authority would have had, had there been no such transfer or change. In the absence of specific written agreement by the Authority to the contrary, no such transfer or approval by the Authority thereof shall be deemed to relieve the Redeveloper, or any other party bound in any way by this Agreement or otherwise with respect to the construction of the Minimum Improvements, from any of its obligations with respect thereto. (iii) Any and all instruments and other legal documents involved in effecting the transfer of any interest in this Agreement and the Purchase Price Note or the Redevelopment Property governed by this Article VIII, shall be in a form reasonably satisfactory to the Authority. (iv) The Redeveloper and its transferees shall comply with such other conditions as the Authority may reasonably require in order to achieve and safeguard the purposes of the TIF Act and this Agreement. (v) The Redeveloper agrees to pay all reasonable costs and expenses, including fees of legal counsel retained by the Authority, to review the documents submitted to the Authority in connection with any such transfer. In the event the foregoing conditions are satisfied then the Redeveloper shall be released from its obligation under this Agreement. The Authority shall execute and provide any and all documentation reasonably requested by Redeveloper evidencing the same at the Redeveloper's cost and expense. Section 8.3. Release and Indemnification Covenants. (a) The Redeveloper releases from and covenants and agrees that the Indemnified Parties shall not be liable for and agrees to indemnify and hold harmless the Authority and the governing body members, officers, agents and employees thereof against any loss or damage to property or any injury to or death of any person occurring at or about or resulting from any defect in the Minimum Improvements or the Redevelopment Property. (b) Except for any willful misrepresentation or any willful or wanton misconduct of the Indemnified Parties, the Redeveloper agrees to protect and defend the Indemnified Parties, now or forever, and further agrees to hold the aforesaid harmless from any claim, demand, suit, action or other proceeding whatsoever by any person or entity whatsoever arising or purportedly arising from this Agreement, or the transactions contemplated hereby or the acquisition, construction, installation, ownership, and operation of the Minimum Improvements. 34 MN190\159\804148.v6 (c) Except for any willful misrepresentation or any willful or wanton misconduct of the Indemnified Parties, the Indemnified Parties shall not be liable for any damage or injury to the persons or property of the Redeveloper or its officers, agents or employees or any other person who may be about the Redevelopment Property or Minimum Improvements. (d) All covenants, stipulations, promises, agreements and obligations of the Authority contained herein shall be deemed to be the covenants, stipulations, promises, agreements and obligations of the Authority and not of any governing body member, officer, agent or employee of the Authority or the City in the individual capacity thereof. (The remainder of this page is intentionally left blank.) 35 MN190\159\804148.v6 ARTICLE IX Events of Default Section 9.1. Events of Default Defined. The following shall be "Events of Default" under this Agreement, and the term "Event of Default" shall mean, whenever it is used in this Agreement, any one or more of the following events, after the non -defaulting party provides sixty (60) days' written notice to the defaulting party of the event, but only if the event has not been cured within said sixty (60) days or, if the event is by its nature incurable within sixty (60) days, the defaulting party does not, within such sixty (60) day period, provide assurances reasonably satisfactory to the party providing notice of default that it is proceeding with due diligence to cure such default and the event will be cured as soon as reasonably possible: (a) any failure by either party to this Agreement to observe or perform any material covenant, condition, obligation or agreement on its part to be observed or performed under this Agreement or under any other agreement entered into between the Redeveloper and the Authority in connection with development of the Redevelopment Property; (b) any default by Redeveloper under a Mortgage, if any; (c) any failure by the Redeveloper to observe or perform any material covenant, condition, obligation or agreement on its part to be observed or performed under the Planning Development Contract; and (d) failure by the Redeveloper to timely pay any ad valorem real property taxes assessed with respect to the Redevelopment Property. Section 9.2. Remedies on Default. Whenever any Event of Default referred to in Section 9.1 of this Agreement occurs, the non -defaulting party may exercise its rights under this Section 9.2: (a) Suspend its performance under this Agreement until it receives assurances that the defaulting party will cure its default and continue its performance under this Agreement. (b) The Authority may cancel and rescind or terminate this Agreement and/or the TIF Note. (c) The Authority may suspend its performance under this Agreement and the TIF Note. Interest on the TIF Note shall not accrue during the period of any suspension of payment. (d) The Authority may demand that the Redeveloper immediately repay the outstanding principal balance of and interest on the Purchase Price Note and repay the Authority Grant and the Land Write Down. (e) The Authority may take whatever action, including legal, equitable or administrative action, which may appear necessary or desirable to collect any payments due under this Agreement, 36 MN190\159\804148.v6 or to enforce performance and observance of any obligation, agreement, or covenant under this Agreement. The Authority agrees that any mortgagee of the Redevelopment Property will have the right, but not the obligation, to cure any default by Redeveloper and any such cure will be deemed to have been made by Redeveloper. Section 9.3. No Remedy Exclusive. No remedy herein conferred upon or reserved to the Authority or Redeveloper is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the Authority to exercise any remedy reserved to it, it shall not be necessary to give notice, other than such notice as may be required in this Article IX. Section 9.4. No Additional Waiver Implied by One Waiver. In the event any agreement contained in this Agreement should be breached by either party and thereafter waived by the other 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 hereunder. (The remainder of this page is intentionally left blank.) 37 MN190\159\804148.v6 ARTICLE X Additional Provisions Section 10.1. Conflict of Interests; Authority Representatives Not Individually Liable. The Authority and the Redeveloper, to the best of their respective knowledge, represent and agree that no member, official, or employee of the Authority shall have any personal interest, direct or indirect, in this Agreement, nor shall any such member, official, or employee participate in any decision relating to this Agreement which affects his personal interests or the interests of any corporation, partnership, or association in which he is, directly or indirectly, interested. No member, official, or employee of the Authority shall be personally liable to the Redeveloper, or any successor in interest, in the event of any default or breach by the Authority or County or for any amount which may become due to the Redeveloper or successor or on any obligations under the terms of this Agreement. Section 10.2. Equal Employment Opportunity. The Redeveloper, for itself and its successors and assigns, agrees that during the construction of the Minimum Improvements provided for in this Agreement it will comply with all applicable federal, state, and local equal employment and non- discrimination laws and regulations. Section 10.3. Restrictions on Use. The Redeveloper agrees that until the Termination Date, the Redeveloper, and its successors and assigns, shall use the Redevelopment Property for the operation of the Minimum Improvements for uses described in the definition of such term in this Agreement, and shall not discriminate upon the basis of race, color, creed, sex or national origin in the sale, lease, or rental or in the use or occupancy of the Redevelopment Property or any improvements erected or to be erected thereon, or any part thereof. Section 10.4. Provisions Not Merged With Deed. None of the provisions of this Agreement are intended to or shall be merged by reason of any deed transferring any interest in the Redevelopment Property and any such deed shall not be deemed to affect or impair the provisions and covenants of this Agreement. Section 10.5. Titles of Articles and Sections. Any titles of the several parts, Articles, and Sections of this Agreement are inserted for convenience of reference only and shall be disregarded in construing or interpreting any of its provisions. Section 10.6. Notices and Demands. Except as otherwise expressly provided in this Agreement, a notice, demand, or other communication under this Agreement by either party to the other shall be sufficiently given or delivered if it is dispatched by registered or certified mail, postage prepaid, return receipt requested, electronic mail with confirmed receipt, or delivered personally; and (a) in the case of the Redeveloper, is addressed to or delivered personally to the Redeveloper at 4510 3rd Street S., Moorhead, MN 56560, Attn: Mark Buchholz, Email: mdbuchholz@gmail.com; and 38 MN190\159\804148.v6 (b) in the case of the Authority, is addressed to or delivered personally to the Authority at 505 Walnut Street, Suite 1, Monticello, Minnesota 55362, Attn: EDA Executive Director, jim.thares@ci.monticello.mn.us and Community Development Director at angela.schumann@ci.monticello.mn.us. (c) or at such other address with respect to either such party as that party may, from time to time, designate in writing and forward to the other as provided in this Section. Section 10.7. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall constitute one and the same instrument. Section 10.8. Recording. The Authority may record this Agreement and any amendments thereto with the Wright County recorder. The Redeveloper shall pay all costs for recording. Section 10.9. Amendment, This Agreement may be amended only by written agreement approved by the Authority and the Redeveloper. Section 10.10. Authority Approvals. Unless otherwise specified, any approval required by the Authority under this Agreement may be given by the Authority Representative as determined by the Authority in their sole discretion. Section 10.11. Termination. This Agreement terminates on the Termination Date. Upon termination of this Agreement, the Authority shall promptly execute any reasonable documents necessary to remove this Agreement from the title records of the Redevelopment Property. Notwithstanding the foregoing, the Redeveloper's obligations under Sections 3.3(d) and (e), 3.11(g), 4.6, 8.3 and 3.12 shall survive termination. Section 10.12. Choice of Law and Venue. 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. 39 MN190\159\804148.v6 IN WITNESS WHEREOF, the Authority has caused this Agreement to be duly executed in its name and behalf and its seal to be hereunto duly affixed and the Redeveloper has caused this Agreement to be duly executed in its name and behalf on or as of the date first above written. CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY By Its President By Its Executive Director STATE OF MINNESOTA ) SS. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this day of , 2022, by and , the President and Executive Director of the City of Monticello Economic Development Authority, a public body corporate and politic, on behalf of the Authority. Notary Public S-1 MN190\159\804148.v6 DEEPHAVEN DEVELOPMENT LLC, a Minnesota limited liability company LOW STATE OF MINNESOTA ) SS. COUNTY OF ) Its The foregoing instrument was acknowledged before me this day of , 2022 by , the of Deephaven Development LLC, a Minnesota limited liability company, on behalf of the company. Notary Public S-1 MN190\159\804148.v6 SCHEDULE A Development Property The real property in the City of Monticello, County of Wright, State of Minnesota, legally described as follows: That part of Block 52, TOWNSITE OF MONTICELLO, Wright County, Minnesota lying southeasterly of the following described line: Commencing at the most northerly corner of said Block 52; thence southeasterly along the northeasterly line of said Block 52, a distance of 183.88 feet to the northwesterly line of the southeasterly 15.00 feet of Lot 13, said Block 52, being the point of beginning of the line to be described; thence southwesterly along said northwesterly line a distance of 94.52 feet; thence northwesterly parallel with the southwesterly line of said Block 52, a distance of 21.83 feet; thence southwesterly parallel with the southeasterly line of said Block 52, a distance of 107.48 feet; thence northwesterly parallel with the southwesterly line of said Block 52, a distance of 82.85 feet to the westerly line of the Easterly 20.00 feet of Lot 3, said Block 52; thence southwesterly along said westerly line, a distance of 128.50 feet to the southwesterly line of said Block 52 and said line there terminating. To be replatted as follows: Lot 2, Block 1, Block 52 First Addition A-1 MN190\159\804148.v6 SCHEDULE B FORM OF QUIT CLAIM DEED op 3 inches reserved for recordi QUIT CLAIM DEED DEED TAX DUE: $ DATE: _ ECRV: (month/day/year) FOR VALUABLE CONSIDERATION, City of Monticello Economic Development Authority (insert name of Grantor) a public body corporate and politic under the laws of Minnesota ("Grantor"), hereby conveys and quitclaims to Deephaven Development LLC (insert name of Grantee) a Minnesota limited liability company under the laws of Minnesota, ("Grantee"), real property in Wright County, Minnesota, legally described as follows: That part of Block 52, TOWNSITE OF MONTICELLO, Wright County, Minnesota lying southeasterly of the following described line: Commencing at the most northerly corner of said Block 52; thence southeasterly along the northeasterly line of said Block 52, a distance of 183.88 feet to the northwesterly line of the southeasterly 15.00 feet of Lot 13, said Block 52, being the point of beginning of the line to be described; thence southwesterly along said northwesterly line a distance of 94.52 feet; thence northwesterly parallel with the southwesterly line of said Block 52, a distance of 21.83 feet; thence southwesterly parallel with the southeasterly line of said Block 52, a distance of 107.48 feet; thence northwesterly parallel with the southwesterly line of said Block 52, a distance of 82.85 feet to the westerly line of the Easterly 20.00 feet of Lot 3, said Block 52; thence southwesterly along said westerly line, a distance of 128.50 feet to the southwesterly line of said Block 52 and said line there terminating. Check here if all or part of the described real property is Registered (Torrens) ❑ together with all hereditaments and appurtenances and subject to the Right of Re -Entry for Breach of Condition Subsequent in favor of Grantor which is described on Exhibit A. Check applicable box: ❑ The Seller certifies that the Seller does not know of any wells on the described property. X A well disclosure certificate accompanies this document (If electronically filed, insert WDC number: ). ❑ I am familiar with the property described in this instrument and I certify that the status and number of wells on the described real property B-1 MN 190\ 159\804148.v6 City of Monticello Economic Development Authority By: Steve Johnson By: Its: President have not changed since the last previously Jim Thares filed well disclosure certificate. Its: Executive Director State of Minnesota, County of WRIGHT This instrument was acknowledged before me on , 20 by Steve Johnson, as President and by Jim Thares, as Executive Director of the City of Monticello Economic Development Authority (the "Authority"), a public body corporate and politic under the Constitution and laws of the State of Minnesota, on behalf of the Authority. THIS INSTRUMENT WAS DRAFTED BY (insert name and address) Kennedy & Graven, Chartered (GAF) 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 MN 190\ 159\804148.v6 Notary Public TAX STATEMENTS FOR THE REAL PROPERTY DESCRIBED IN THIS INSTRUMENT SHOULD BE SENT TO: (insert name and address of Grantee to whom tax statements should be sent) c/o Deephaven Development LLC 4510 311 Street S. Moorhead, MN 56560 EXHIBIT A TO QUIT CLAIM DEED EXECUTED BY THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY, GRANTOR, IN FAVOR OF DEEPHAVEN DEVELOPMENT LLC, GRANTEE. The City of Monticello Economic Development Authority (the "Grantor") is conveying the property described in the attached Quit Claim Deed (the "Development Property") to Deephaven Development LLC ("Grantee") subject to a right of re-entry for breach of conditions subsequent in favor of Grantor. The condition subsequent (such agreement, as the same may be modified or amended, the "Development Agreement" by and between the Grantor and Grantee in connection with this) (capitalized terms utilized herein and not separately defined shall have the meanings ascribed to them in the Development Agreement) is that barring any Unavoidable Delays, the Redeveloper shall have completed, by June 15, 2023, construction of the foundation of the Minimum Improvements (as those terms are defined in the Development Agreement) on the Redevelopment Property in accordance with permits issued by the Grantor. If, solely as a result of the City's own willful misconduct, the City takes more than 30 days to review the Redeveloper's complete request for a building permit, the date in the preceding sentence shall be extended by the number of days in excess of 30 that it takes the City to issue a building permit. If the Grantee breaches the condition subsequent, and does not cure such breach within the period and in the manner provided in the Development Agreement, the Grantee shall re -convey the Redevelopment Property to the Grantor. If the Grantee fails to re -convey the Redevelopment Property to the Grantor, the Grantor may elect to exercise its right of reentry by commencing an action in Wright County District Court to establish the breach of the condition subsequent. If the Grantor exercises its right of reentry and establishes a breach of the condition subsequent, title to and the right to possession of the Redevelopment Property and title to all improvements located thereon reverts to the Grantor, and the Grantee is not entitled to any compensation from the City or the Grantor for the value of the Redevelopment Property or any improvements the Grantee has made thereto except as specifically provided in the Development Agreement. The Grantee shall notify the Grantor when the Grantee has completed, or caused to be completed, construction of the foundation of the Minimum Improvements on the Redevelopment Property in accordance with permits issued by the Grantor. The Grantor shall, within 20 days after such notification, inspect the Redevelopment Property in order to determine whether the Grantee has completed construction of the foundation of the Minimum Improvements in accordance with permits issued by the Grantor. If the Grantor determines the Grantee has completed construction of the foundation of the Minimum Improvements in accordance with permits issued by the Grantor, the Grantor will furnish to the Grantee a Certificate of Release in the form attached hereto as Exhibit B, or as may otherwise be required by the County Recorders' Office, releasing the Redevelopment Property from the right -of -reentry The Certificate of Release issued for the Redevelopment Property shall conclusively satisfy and terminate the right of reentry of the Grantor with respect to the Redevelopment Property in this Quit Claim Deed or the Development Agreement. The Grantee must record the Certificate of B-3 MN190\159\804148.v6 Release in the proper County land records. EXHIBIT B TO QUIT CLAIM DEED EXECUTED BY THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY, GRANTOR, IN FAVOR OF DEEPHAVEN DEVELOPMENT LLC, GRANTEE. CERTIFICATE OF RELEASE Recitals. Recital One. Deephaven Development LLC, a Minnesota limited liability company (the "Grantee") is the owner of the real property legally described in Exhibit A hereto (the "Development Property"). Recital Two. Grantee acquired title to the Redevelopment Property subject to a right of reentry for breach of conditions subsequent in favor of the Grantor (the "Right of Reentry") set forth in a deed from the City of Monticello Economic Development Authority (the "Grantor") dated , 2022 and recorded in the office of the Wright County Registrar of Titles /Wright County Recorder on as Document No. (the "Deed"). Recital Three. The Grantee is a party to a Purchase and Development Contract between the Grantor and the Grantee, dated August _, 2022 (such agreement, as the same may be modified or amended, the "Development Agreement") (capitalized terms utilized herein and not separately defined shall have the meanings ascribed to them in the Development Agreement). Recital Four. Pursuant to the Development Agreement the Grantee is obligated to have completed, or caused to be completed, by June 15, 2023, construction of the foundation of the Minimum Improvements in accordance with permits issued by the Grantor. Recital Five. The Grantor's Right of Reentry would be triggered by the Grantee's failure to have completed, or caused to be completed, by June 15, 2023, construction of the foundation of the Minimum Improvements in accordance with permits issued by the City of Monticello, Minnesota. Recital Six. The Grantee has represented to the Grantor that the Grantee has completed, by June 15, 2023, construction of the foundation of the Minimum Improvements in accordance with permits issued by the Grantor and has requested this Certificate of Release from the Grantor. Certificate of Release. The Grantor hereby certifies that the Grantee has satisfied its obligations with respect to completing, or causing to be completed, by June 15, 2023, construction of the foundation of the Minimum Improvements in accordance with permits issued by the Grantor. The Grantor further acknowledges and agrees that the Redevelopment Property is released from the Right of Reentry. Modification of Development Agreement. Section 3.8 of the Development Agreement is hereby B-4 MN190\159\804148.v6 deleted in its entirety. IN WITNESS WHEREOF, the Grantor has caused this certificate to be duly executed on its behalf this day of , 20 CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY By: Its: President Bv: Its: Executive Director STATE OF MINNESOTA COUNTY OF WRIGHT This instrument was acknowledged before me on , 20_ by , as President and by , as Executive Director of the City of Monticello Economic Development Authority, a public body corporate and politic under the Constitution and laws of the State of Minnesota, on behalf of the Authority. Notary Public DRAFTED BY: Kennedy & Graven, Chartered (GAF) 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 B-5 MN190\159\804148.v6 EXHIBIT A TO CERTIFICATE OF RELEASE LEGAL DESCRIPTION OF REDEVELOPMENT PROPERTY The real property in the City of Monticello, County of Wright, State of Minnesota, legally described as follows: [INSERT] B-6 MN190\159\804148.v6 SCHEDULE C PURCHASE PRICE NOTE Dated 92022 Deephaven Development LLC, a Minnesota limited liability company (the "Developer"), hereby acknowledges itself to be indebted and, for value received, hereby promises to pay, solely from Purchase Price Note Pledged Tax Increment as provided herein, to the City of Monticello Economic Development Authority (the "EDA") the principal sum of One Million Three Hundred Fifty One Thousand Six Hundred Seventeen and NO/100 Dollars ($1,351,617.00). The principal amount of this Purchase Price Note (the "Note") shall equal, from time to time, the principal amount stated above, as reduced to the extent that such principal shall have been paid in whole or in part pursuant to the terms hereof. This Note is issued pursuant to that certain Purchase and Development Contract, dated as of , 2022, as the same may be amended from time to time (the "Development Agreement"), by and between the EDA and the Redeveloper. This Note bears interest until paid at a rate equal to 3.00% per annum (computed on the basis of a 360 -day year, of twelve 30 -day months). The Redeveloper acknowledges that the EDA will credit Purchase Price Note Pledged Tax Increment (as defined in the Development Agreement) to the payment of this Note pursuant to the Purchase Price Loan (as defined in the Development Agreement). If, as of the termination date of the TIF District (as defined in the Assistance Agreement), the EDA has received Purchase Price Note Pledged Tax Increments available for the payment of this Note in an amount less than $1,351,617.00 plus accrued interest thereon, the EDA will forgive the remaining principal amount of this Note plus accrued interest thereon. This Note is prepayable at any time without penalty and the EDA may use apply other EDA funds to the prepayment of this Note. IN WITNESS WHEREOF, Deephaven Development LLC, has caused this Note to be executed and delivered as of the date first written above. DEEPHAVEN DEVELOPMENT LLC A Minnesota limited liability company By:_ Name: Its: MN190\159\804148.v6 C-1 SCHEDULE D FORM OF CERTIFICATE OF COMPLETION CERTIFICATE OF COMPLETION WHEREAS, the City of Monticello Economic Development Authority (the "Authority") and Deephaven Development LLC ("Developer") entered into a certain Purchase and Development Contract dated August _, 2022 (the "Contract"), recorded at the office of the County Recorder of Wright County as Document No. ; and WHEREAS, the Contract contains certain covenants and restrictions set forth in Articles III and IV thereof related to constructing certain Minimum Improvements; and WHEREAS, the Redeveloper has performed said covenants and conditions insofar as it is able in a manner deemed sufficient by the Authority to permit the execution and recording of this certification; NOW, THEREFORE, this is to certify that all construction and other physical improvements related to the Minimum Improvements specified to be done and made by the Redeveloper have been completed and the agreements and covenants in Articles III and IV of the Contract relating to such construction have been performed by the Redeveloper, and this Certificate is a conclusive determination of the satisfactory termination of the covenants and conditions of Articles III and IV of the Contract related to completion of the Minimum Improvements, but any other covenants in the Contract shall remain in full force and effect. MN190\159\804148.v6 D-1 Dated: STATE OF MINNESOTA COUNTY OF WRIGHT 20. CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY SS. Authority Representative The foregoing instrument was acknowledged before me this day of 20_, by , the of the City of Monticello Economic Development Authority, a public body corporate and politic under the laws of the State of Minnesota, on behalf of the authority. Notary Public This document was drafted by: KENNEDY & GRAVEN, Chartered (GAF) 150 South 5th Street, Suite 700 Minneapolis, MN 55402 Telephone: (612) 337-9300 (Signature page to Certificate of Completion) MN190\159\804148.v6 D-2 SCHEDULE E AUTHORIZING RESOLUTION CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION AWARDING THE SALE OF, AND PROVIDING THE FORM, TERMS, COVENANTS AND DIRECTIONS FOR THE ISSUANCE OF A TAX INCREMENT REVENUE NOTE TO DEEPHAVEN DEVELOPMENT LLC AND APPROVING A PURCHASE AND DEVELOPMENT CONTRACT WITH DEEPHAVEN DEVELOPMENT LLC INCLUDING THE CONVEYANCE OF LAND AND APPROVING GRANT AND BUSINESS SUBSIDY AGREEMENT THEREIN BE IT RESOLVED BY the Board of Commissioners ("Board") of the City of Monticello Economic Development Authority, Monticello, Minnesota (the "Authority") as follows: Section 1. Recitals. 1.01. Authorization. The Authority and the City of Monticello, Minnesota (the "City") have approved the establishment of its Tax Increment Financing (Redevelopment) District No. I- 45 ((the "TIF District"), within the Central Monticello Redevelopment Project No. 1 ("Redevelopment Project") and have adopted a tax increment financing plan therefore for the purpose of financing certain public improvements within the Redevelopment Project. 1.02. To facilitate development of certain property in the TIF District, the Authority proposes to enter into a Purchase and Development Contract (the "Agreement") with Deephaven Development LLC, a Minnesota limited liability company, or an affiliate thereof or entity related thereto (the "Redeveloper"), under which among other things the Authority will convey to the Redeveloper, certain property described in Exhibit A attached hereto (the "Redevelopment Property") at a cost below market value in order for the Redeveloper to construct an mixed-use five -story building located on the Redevelopment Property that will include approximately 87 rental housing units and 27,342 square feet of commercial retail and office space, with approximately 83 lower - level parking spaces and 114 adjacent off-street parking stalls (the "Minimum Improvements"). 1.03. The Authority proposes to sell the Redevelopment Property to the Redeveloper at the price of $1,484,100 which will be paid from cash in the amount of $1.00, and a land write down from the Authority in the amount of $132,482 (the "Land Write Down"), and a Purchase Price Note (the "Purchase Price Note") from the Redeveloper in the amount of $1,351,617.00 which will be repaid from available tax increment generated by the Redevelopment Property in accordance with the Agreement. In addition, the Authority proposes to reimburse the Redeveloper for certain public redevelopment costs in the amount not to exceed $2,867,954 through the issuance of a pay as you go B-1 MN190\159\804148.v6 tax increment financing note (the "TIF Note") and in an amount not to exceed $367,400 through the provision of a grant (the "Authority Grant"), subject to the terms and conditions set forth in the Agreement. Finally, the Authority also proposes to reimburse the Redeveloper for a portion of the demolition and hazardous materials removal work on the Redevelopment Property in an amount not to exceed $517,500 (the "DEED Grant") pursuant to a Redevelopment Grant Contract Agreement number RDGP-22-0009-o-FY22, effective as of April 1, 2022, between the Authority and the State of Minnesota, acting through the Department of Employment and Economic Development, Business and Community Development. 1.04. The Purchase Price Note, the Land Write Down the TIF Note, the Authority Grant, and the DEED Grant constitute a "business subsidy" exceeding $150,000 within the meaning of Minnesota Statutes, Section 1161993 to 1161995, as amended (the "Business Subsidy Act"), and the Agreement includes a "business subsidy agreement" as required under the Business Subsidy Act. 1.05. On the date hereof, the Authority conducted a duly noticed public hearing regarding the conveyance of the Redevelopment Property to the Redeveloper pursuant to the Agreement and the business subsidy agreement, at which all interested parties were given an opportunity to be heard, and hereby finds that the execution of the Agreement and performance of the Authority's obligations thereunder, including the conveyance of the Redevelopment Property to the Redeveloper and the business subsidy agreement, are in the best interest of the City and its residents. Section 2. Agreement Containing Land Sale and Business SubsidyAPproved. 2.01 The Board approves the Agreement in substantially the form presented to the Board, together with any related documents necessary in connection therewith, including without limitation the business subsidy agreement provided therein, all documents, exhibits, certifications, or consents referenced in or attached to the Agreement including without limitation the Deed and any documents required by the title company relating to the conveyance of property (all as defined in the Agreement) (the "Development Documents"). The Board hereby approves the conveyance of the Development Property to the Redeveloper in accordance with the terms of the Agreement. 2.02. The Board hereby authorizes the President and Executive Director, in their discretion and at such time, if any, as they may deem appropriate, to execute the Development Documents on behalf of the Authority, and to carry out, on behalf of the Authority, the Authority's obligations thereunder when all conditions precedent thereto have been satisfied. The Development Documents shall be in substantially the form on file with the Authority and the approval hereby given to the Development Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the Authority and by the officers authorized herein to execute said documents prior to their execution; and said officers are hereby authorized to approve said changes on behalf of the Authority. The execution of any instrument by the appropriate officers of the Authority herein authorized shall be conclusive evidence of the approval of such document in accordance with the terms hereof. This resolution shall not constitute an offer and the Development Documents shall not be effective until the date of execution thereof as provided herein. 2 MN190\159\804148.v6 2.03. In the event of absence or disability of the officers, any of the documents authorized by this resolution to be executed may be executed without further act or authorization of the Board by any duly designated acting official, or by such other officer or officers of the Board as, in the opinion of the City Attorney, may act in their behalf. Upon execution and delivery of the Development Documents, the officers and employees of the Board are hereby authorized and directed to take or cause to be taken such actions as may be necessary on behalf of the Board to implement the Development Documents, including without limitation the issuance of tax increment revenue obligations thereunder when all conditions precedent thereto have been satisfied and reserving funds for the payment thereof in the applicable tax increment accounts and the crediting of tax increments to the payment of the Purchase Price Note when all conditions precedent thereto have been satisfied. Section 3. TIF Note Authorized and Approved. 3.01. The Authority hereby approves issuance of the TIF Note pursuant to the Agreement. The TIF Note shall be issued in the maximum aggregate principal amount of $2,867,954 to the Redeveloper in consideration of certain eligible costs incurred by the Redeveloper under the Agreement, shall be dated the date of delivery thereof, and shall bear interest at a rate of 5.15%. The TIF Note will be issued in a single series designated Taxable Tax Increment Revenue Note (Block 52 Project) issued in the principal amount of $2,867,954 to reimburse the Redeveloper for certain costs in accordance with the Agreement. The TIF Note is secured by TIF Note Available Tax Increment, as further described in the form of the TIF Note attached hereto as Exhibit B. The Authority hereby delegates to the Executive Director the determination of the date on which the TIF Note is to be delivered, in accordance with the Agreement. Section 4. Form of TIF Note; Terms and Delivery of TIF Note. 4.01 The TIF Note shall be in substantially the form attached hereto as Exhibit B, with the blanks to be properly filled in and the principal and interest rate amounts adjusted as of the date of issue. 4.02. Denomination, Payment. The TIF Note shall be issued as a single typewritten note numbered R-1. The TIF Note shall be issuable only in fully registered form. Principal of and interest on the TIF Note shall be payable by check or draft issued by the Registrar described herein. 4.03. Dates; Interest Payment Dates. Principal of and interest on the TIF Note shall be payable by mail to the owner of record thereof as of the close of business on the fifteenth day of the month preceding the Payment Date, whether or not such day is a business day. 4.04. Registration. The Authority hereby appoints the City Finance Director to perform the functions of registrar, transfer agent and paying agent (the "Registrar"). The effect of registration and the rights and duties of the Authority and the Registrar with respect thereto shall be as follows: 3 MN190\159\804148.v6 (a) Register. The Registrar shall keep at its office a bond register in which the Registrar shall provide for the registration of ownership of the TIF Note and the registration of transfers and exchanges of the TIF Note. (b) Transfer of TIF Note. Upon surrender for transfer of the TIF Note duly endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in form reasonably satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly authorized by the registered owner in writing, and consent to such transfer by the Authority if required pursuant to the Agreement, the Registrar shall authenticate and deliver, in the name of the designated transferee or transferees, a new TIF Note of a like aggregate principal amount and maturity, as requested by the transferor. The Registrar may close the books for registration of any transfer after the fifteenth day of the month preceding each Payment Date and until such Payment Date. (c) Cancellation. The TIF Note surrendered upon any transfer shall be promptly cancelled by the Registrar and thereafter disposed of as directed by the Authority. (d) Improper or Unauthorized Transfer. When the TIF Note is presented to the Registrar for transfer, the Registrar may refuse to transfer the same until it is reasonably satisfied that the endorsement on such TIF Note or separate instrument of transfer is legally authorized. The Registrar shall incur no liability for its refusal, in good faith, to make transfers which it, in its judgment, deems improper or unauthorized. (e) Persons Deemed Owners. The Authority and the Registrar may treat the person in whose name the TIF Note is at any time registered in the bond register as the absolute owner of the TIF Note, whether the TIF Note shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on such TIF Note and for all other purposes, and all such payments so made to any such registered owner or upon the owner's order shall be valid and effectual to satisfy and discharge the liability of the Authority upon such TIF Note to the extent of the sum or sums so paid. (f) Taxes, Fees and Charges. For every transfer or exchange of the TIF Note, the Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee, or other governmental charge required to be paid with respect to such transfer or exchange. (g) Mutilated, Lost, Stolen or Destroyed TIF Note. In case any TIF Note shall become mutilated or be lost, stolen, or destroyed, the Registrar shall deliver a new TIF Note of like amount, Termination Dates and tenor in exchange and substitution for and upon cancellation of such mutilated TIF Note or in lieu of and in substitution for such TIF Note lost, stolen, or destroyed, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case the TIF Note lost, stolen, or destroyed, upon filing with the Registrar of evidence satisfactory to it that such TIF Note was lost, stolen, or destroyed, and of the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or indemnity in form, substance, and amount satisfactory to it, in which both the Authority and the Registrar shall be named as obligees. The TIF Note so surrendered to the Registrar shall be cancelled by it and evidence of such 4 MN190\159\804148.v6 cancellation shall be given to the Authority. If the mutilated, lost, stolen, or destroyed TIF Note has already matured or been called for redemption in accordance with its terms, it shall not be necessary to issue a new TIF Note prior to payment. 4.05. Preparation and Delivery. The TIF Note shall be prepared under the direction of the Executive Director and shall be executed on behalf of the Authority by the signatures of its President and Executive Director. In case any officer whose signature shall appear on the TIF Note shall cease to be such officer before the delivery of the TIF Note, such signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. When the TIF Note has been so executed, it shall be delivered by the Executive Director to the owner thereof in accordance with the Agreement. Section 5. Security Provisions. 5.01. Pledge. The Authority hereby pledges to the payment of the principal of and interest on the TIF Note all TIF Note Available Tax Increment as defined in the TIF Note. TIF Note Available Tax Increment shall be applied to payment of the principal of and interest on the TIF Note in accordance with the terms of the form of TIF Note set forth in Section 2 of this resolution. Section 6. Certification of Proceedings. 6.01. Certification of Proceedings. The officers of the Authority are hereby authorized and directed to prepare and furnish to the owner of the TIF Note certified copies of all proceedings and records of the Authority, and such other affidavits, certificates, and information as may be required to show the facts relating to the legality and marketability of the TIF Note as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates, and affidavits, including any heretofore furnished, shall be deemed representations of the Authority as to the facts recited therein. Section 7. Effective Date. This resolution shall be effective upon approval. Approved by the Board of Commissioners of the City of Monticello Economic Development Authority on August 10, 2022. President ATTEST: Executive Director 5 MN190\159\804148.v6 EXHIBIT A DESCRIPTION OF REDEVELOPMENT PROPERTY The real property in the City of Monticello, County of Wright, State of Minnesota, described as the following addresses: 101 W Broadway Street, 107 W Broadway Street, 113 W Broadway Street, 121 W Broadway Street, 103 Pine Street, 112 W River Street That part of Block 52, TOWNSITE OF MONTICELLO, Wright County, Minnesota lying southeasterly of the following described line: Commencing at the most northerly corner of said Block 52; thence southeasterly along the northeasterly line of said Block 52, a distance of 183.88 feet to the northwesterly line of the southeasterly 15.00 feet of Lot 13, said Block 52, being the point of beginning of the line to be described; thence southwesterly along said northwesterly line a distance of 94.52 feet; thence northwesterly parallel with the southwesterly line of said Block 52, a distance of 21.83 feet; thence southwesterly parallel with the southeasterly line of said Block 52, a distance of 107.48 feet; thence northwesterly parallel with the southwesterly line of said Block 52, a distance of 82.85 feet to the westerly line of the Easterly 20.00 feet of Lot 3, said Block 52; thence southwesterly along said westerly line, a distance of 128.50 feet to the southwesterly line of said Block 52 and said line there terminating. To be replatted as follows: Lot 2, Block 1, Block 52 First Addition E-1 MN190\159\804148.v6 EXHIBIT B UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF WRIGHT CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY No. R-1 TAXABLE TAX INCREMENT REVENUE NOTE SERIES 20_ (BLOCK 52 PROJECT) Rate 5.15% $2,867,954.00 Date of Original Issue , 20_ The City of Monticello Economic Development Authority (the "Authority") for value received, certifies that it is indebted and hereby promises to pay to Deephaven Development LLC, a Minnesota limited liability company, or registered assigns (the "Owner"), the principal sum of $2,867,954.00 and to pay interest thereon at the rate of 5.15% per annum, solely from the sources and to the extent set forth herein. Capitalized terms shall have the meanings provided in the Purchase and Development Contract between the Authority and the Owner, dated as of , 2022 (the "Agreement"), unless the context requires otherwise. 1. Pam. Principal and interest (the "Payments") shall be paid on August 1, 2025 and each February 1 and August 1 thereafter ("Payment Dates") to and including February 1, 2051 (the "Maturity Date") in the amounts and from the sources set forth in Section 3 herein. Payments shall be applied first to accrued interest, and then to unpaid principal. This Note shall be paid solely from TIF Note Available Tax Increment (as hereinafter defined). TIF Note Available Tax Increment will not include any Tax Increment (as defined the Agreement) if, as of any Payment Date, there is an uncured Event of Default under the Agreement. Payments are payable by mail to the address of the Owner or such other address as the Owner may designate upon sixty (60) days written notice to the Authority. Payments on this TIF Note are payable in any coin or currency of the United States of America which, on the Payment Date, is legal tender for the payment of public and private debts. 2. Interest. Interest at the rate stated herein shall accrue on the unpaid principal, commencing on the date of original issue. The Note shall bear simple non -compounding interest. 3. TIF Note Available Tax Increment. (a) Payments on this TIF Note are payable on each Payment Date solely from and in the amount of TIF Note Available Tax Increment, which shall mean: MN190\159\804148.v6 E-2 (i) on Payment Dates August 1, 2025 through February 1, 2030, one hundred percent (100%) of the Tax Increment attributable to the Minimum Improvements and Redevelopment Property that is actually paid to the Authority by Wright County in the six (6) months preceding the Payment Date; and (ii) on Payment Dates August 1, 2030 through February 1, 2051, seventy-five percent (75%) of the Tax Increment attributable to the Minimum Improvements and Redevelopment Property that is actually paid to the Authority by Wright County in the six (6) months preceding the Payment Date. (b) The Authority shall have no obligation to pay principal of and interest on this TIF Note on each Payment Date from any source other than TIF Note Available Tax Increment and the failure of the Authority to pay the entire amount of principal or interest on this TIF Note on any Payment Date shall not constitute a default hereunder as long as the Authority pays principal and interest hereon to the extent of TIF Note Available Tax Increment. The Authority shall have no obligation to pay any unpaid balance of principal or accrued interest that may remain after the final Payment on the Maturity Date. 4. Default. The Authority's payment obligations shall be subject to Sections 9.1 and 9.2 of the Agreement and are further subject to the conditions that (i) no Event of Default under Section 9.1 of the Agreement shall have occurred and be continuing at the time payment is otherwise due hereunder; and (ii) the Agreement and this TIF Note shall not have been terminated in accordance with Section 9.2 of the Agreement. Any such suspended and unpaid amounts shall become payable, without interest accruing thereon in the meantime, if this TIF Note has not been terminated in accordance with Section 9.2 of the Agreement and said Event of Default shall thereafter have been cured in accordance with Section 9.2. If pursuant to the occurrence of an Event of Default under the Agreement the Authority elects, in accordance with the Agreement, to cancel and rescind the Agreement and/or this TIF Note, the Authority shall have no further obligation under this TIF Note whatsoever. Reference is hereby made to all of the provisions of the Agreement, for a fuller statement of the rights and obligations of the Authority to pay the principal of this TIF Note and the interest thereon, and said provisions are hereby incorporated into this TIF Note as though set out in full herein. 5. Prepayment. The principal sum and all accrued interest payable under this TIF are prepayable at the option of the Authority at any time. 6. Nature of Obligation. This TIF Note is one of an issue in the total principal amount of $2,867,954, issued to aid in financing certain Public Redevelopment Costs of a Redevelopment Project undertaken by the Authority pursuant to Minnesota Statutes, Sections 469.090 through 469.108 1, as amended, and Section 469.001 through 469.047, as amended, and is issued pursuant to an authorizing resolution (the "Resolution") duly adopted by the Authority on July 13, 2022, and pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including Minnesota Statutes, Sections 469.174 to 469.1794, as amended. This TIF Note is a limited obligation of the Authority which is payable solely from TIF Note Available Tax Increment pledged to the payment hereof under the Resolution. This TIF Note and the interest hereon shall not be deemed to constitute a general obligation of the State of Minnesota or any political MN190\159\804148.v6 E-3 subdivision thereof, including, without limitation, the Authority or the City of Monticello, Minnesota (the "City"). Neither the State of Minnesota, the City, the Authority nor any political subdivision thereof shall be obligated to pay the principal of or interest on this TIF Note or other costs incident hereto except out of TIF Note Available Tax Increment, and neither the full faith and credit nor the taxing power of the State of Minnesota, the City, the Authority, or any political subdivision thereof is pledged to the payment of the principal of or interest on this TIF Note or other costs incident hereto. THE AUTHORITY MAKES NO REPRESENTATION OR WARRANTY THAT THE TIF NOTE AVAILABLE TAX INCREMENT WILL BE SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THIS NOTE. 7. Registration and Transfer. This TIF Note is issuable only as a fully registered TIF Note without coupons. As provided in the Resolution, and subject to certain limitations set forth therein, this TIF Note is transferable upon the books of the Authority kept for that purpose at the principal office of the Executive Director, by the Owner hereof in person or by such Owner's attorney duly authorized in writing, upon surrender of this TIF Note together with a written instrument of transfer satisfactory to the Authority, duly executed by the Owner. Upon such transfer or exchange and the payment by the Owner of any tax, fee, or governmental charge required to be paid by the Authority with respect to such transfer or exchange, there will be issued in the name of the transferee a new TIF Note of the same aggregate principal amount, bearing interest at the same rate and maturing on the same dates, within 15 days after the delivery by the Owner of its request and approval of such request by the Authority if required under the Agreement. Except as otherwise provided in the Agreement, this TIF Note shall not be transferred to any person or entity, unless the Authority has provided written consent to such transfer and the Authority is provided with an investment letter in a form satisfactory to the Authority. The Registrar may close the books for registration of any transfer after the fifteenth (15th) day of the month preceding each Payment Date and until such Payment Date. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen, and to be performed in order to make this TIF Note a valid and binding limited obligation of the Authority according to its terms, have been done, do exist, have happened, and have been performed in due form, time and manner as so required. IN WITNESS WHEREOF, the Board of Commissioners of the City of Monticello Economic Development Authority have caused this TIF Note to be executed with the manual signatures of its President and Executive Director, all as of the Date of Original Issue specified above. CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY MN190\159\804148.v6 E-4 Executive Director President REGISTRATION PROVISIONS The ownership of the unpaid balance of the within TIF Note is registered in the bond register of the City Finance Director, in the name of the person last listed below. Date of Registration Registered Owner 20_ Deephaven Development LLC Federal Tax I.D No MN190\159\804148.v6 E-5 Signature of Executive Director SCHEDULE F DISBURSEMENT REQUEST TO: City of Monticello Economic Development Authority 505 Walnut Street, Suite 1 Monticello, Minnesota 55362 Attn: Executive Director DISBURSEMENT DIRECTION The undersigned authorized representative (the "Authorized Representative") of Deephaven Development LLC, a Minnesota limited liability company, (the "Redeveloper"), hereby authorizes and requests you to disburse from proceeds of the DEED Grant in accordance with the terms of the Purchase and Development Contract, dated , 2022 (the "Agreement"), between the City of Monticello Economic Development Authority ("Authority") and the Redeveloper, the following amount to the following person and for the following proper DEED Redevelopment Costs: 1. Amount: 2. Payee: 3. Purpose: 4. Grant Source: all as defined and provided in the Agreement. The undersigned further certifies to the Authority that (a) none of the items for which the payment is proposed to be made has formed the basis for any payment previously made under Article III the Agreement (or before the date of the Agreement); (b) that each item for which the payment is proposed is an DEED Redevelopment Cost, eligible for funding from the grant source identified above; and (c) the Redeveloper reasonably anticipates completion of the DEED Redevelopment Costs and the Minimum Improvements in accordance with the terms of the Agreement. Dated: Redeveloper's Authorized Representative F-1 MN190\159\804148.v6 SCHEDULE G AUTHORITY GRANT COST Estimated Costs for the Authority Grant Items are shown below. The total Authority Grant is not to exceed (capped at) $367,400. The Redeveloper shall be responsible for all costs in excess of $367,400. Parking Paving Parking Lot Excavation Internal Sidewalk and Landscaping Street Sidewalks Plaza Concrete and Landscaping ROW Landscape/Streetscape Environmental Study — Phase II G-1 MN190\159\804148.v6 $80,000.00 $80,000.00 $80,000.00 $55,000.00 $55,000.00 $55,000.00 $15,400 $420,400 EXHIBIT H FORM OF MINIMUM ASSESSMENT AGREEMENT THIS MINIMUM ASSESSMENT AGREEMENT (the "Agreement"), dated as of this day of , 2022, is between the CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY (the "EDA") and DEEPHAVEN DEVELOPMENT LLC, a limited liability company (the "Redeveloper"). WITNESSETH WHEREAS, on or before the date hereof the EDA and Redeveloper have entered into a Purchase and Development Contract dated as of , 2022 (the "Development Agreement") regarding certain real property located in the City of Monticello, Minnesota (the "City") the description of which is attached hereto as Exhibit A (the "Redevelopment Property"); and WHEREAS, it is contemplated that pursuant to the Development Agreement, the Redeveloper will undertake the construction of an approximately constructing a mixed-use five - story building on the Redevelopment Property that will include approximately 87 rental housing units and 27,342 square feet of commercial retail and office space, with approximately 83 lower - level parking spaces and 114 adjacent off-street parking stalls (the "Project"), in accordance with plans and specifications approved by the EDA; and WHEREAS, the EDA and Redeveloper desire to establish a minimum market value for the Redevelopment Property and the improvements constructed or to be constructed thereon, pursuant to Minnesota Statutes, Section 469.177; and WHEREAS, the Redeveloper has acquired the Redevelopment Property; and WHEREAS, the EDA and the County Assessor of Wright County have reviewed plans and specifications for the Project; and NOW, THEREFORE, the parties to this Agreement, in consideration of the promises, covenants and agreements made by each to the other, do hereby agree as follows: 1. As of January 2, 2024, the minimum market value, which shall be assessed for the Redevelopment Property for taxes payable 2025 and in each year thereafter, shall not be less than $18,500,000. 2. The minimum market values herein established shall be of no further force and effect after assessment on or before January 31, 2050, for taxes payable in 2051; provided, however, this Agreement shall terminate on such date as the TIF District (as defined in the Development Agreement) is decertified (the "Termination Date"). 3. This Agreement shall be recorded by the EDA with the County Recorder of Wright County, Minnesota and in the Office of the Wright County Registrar of Titles. The Redeveloper shall pay all costs of recording. H-1 MN190\159\804148.v6 4. Neither the preambles nor provisions of this Agreement are intended to, or shall they be construed as, modifying the terms of the Development Agreement between the EDA and the Redeveloper. 5. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties, shall be governed by and interpreted pursuant to Minnesota law, and may be executed in counterparts, each of which shall constitute an original hereof and all of which shall constitute one and the same instrument. This Instrument Drafted By: Kennedy & Graven, Chartered (GAF) 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 H-2 MN190\159\804148.v6 IN WITNESS WHEREOF, the EDA and the Redeveloper have caused this Minimum Assessment Agreement to be executed in their names and on their behalf all as of the date set forth above. CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY By President By Executive Director STATE OF MINNESOTA ) ) SS. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this day of , 202_ by , the President of the City of Monticello Economic Development Authority, a body corporate and politic organized and existing under the Constitution and laws of the State of Minnesota, on behalf of said Authority. Notary Public STATE OF MINNESOTA ) ) SS. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this day of , 202_ by , the Executive Director of the City of Monticello Economic Development Authority, a body corporate and politic organized and existing under the Constitution and laws of the State of Minnesota, on behalf of said Authority. Notary Public H-3 MN190\159\804148.v6 DEEPHAVEN DEVELOPMENT LLC Name: Its: STATE OF MINNESOTA ) SS. COUNTY OF ) The foregoing instrument was acknowledged before me this , 2022, by , the of Deephaven Development LLC, a Minnesota limited liability company, on behalf of the company. Notary Public H-4 MN190\159\804148.v6 CERTIFICATION BY COUNTY ASSESSOR The undersigned, having reviewed the Assessment Agreement dated as of , 2022 by and City of Monticello Economic Development Authority and Deephaven Development LLC, the plans and specifications for the Project, as defined in the foregoing Minimum Assessment Agreement, and the market value currently assigned to land upon which the improvements are to be constructed and being of the opinion that the minimum market value contained in the Minimum Assessment Agreement appears reasonable, hereby certifies as follows: The undersigned Assessor, being legally responsible for the assessment of the above described property, hereby certifies that the minimum market value of $18,500,000 commencing as of January 2, 2024, assigned to such land and improvements is reasonable. County Assessor for Wright County STATE OF MINNESOTA ) ss. COUNTY OF WRIGHT ) This instrument was acknowledged before me on 202_, by , the County Assessor of Wright County. Notary Public H-5 MN190\159\804148.v6 Exhibit A to Minimum Assessment Agreement Legal Description of Redevelopment Property The property located in the City of Monticello, Wright County, Minnesota described as: [INSERT LEGAL DESCRIPTION] H-6 MN190\159\804148.v6 Preliminary for Discussion Purposes Only - All Figures are Estimated and Actual Amounts will Vary from Estimates City of Monticello Monticello Tax Increment Financing District No. 1-45 (Redevelopment) Block 52 Projected Tax Increment Cash Flow 25.0% 75.0% 5.15% TIF Taxes TaxableCaptured Total PV of Net District Payable Market Net Tax Original Available TIF to TIF to Available Value Tax Rate EDA Developer 5 7 Year Year Capacity TIF TIF (TMV) 1 2025 18,500,000 242,003 96.982% 233,854 233,854 213,056 2 2026 18,685,000 244,623 96.982% 236,386 236,386 417,742 3 2027 18,871,850 247,269 96.982% 238,943 238,943 614,385 4 2028 19,060,569 249,942 96.982% 241,525 241,525 803,298 5 2029 19,251,174 252,641 96.982% 244,134 244,134 984,785 6 2030 19,443,686 255,368 96.982% 246,768 61,692 185,076 1,115,548 7 2031 19,638,123 258,121 96.982% 249,430 62,357 187,072 1,241,169 8 2032 19,834,504 260,903 96.982% 252,117 63,029 189,088 1,361,848 9 2033 20,032,849 263,712 96.982% 254,832 63,708 191,124 1,477,779 10 2034 20,233,178 266,549 96.982% 257,573 64,393 193,180 1,589,148 11 2035 20,435,509 269,415 96.982% 260,342 65,086 195,257 1,696,134 12 2036 20,639,864 272,309 96.982% 263,139 65,785 197,354 1,798,908 13 2037 20,846,263 275,232 96.982% 265,964 66,491 199,473 1,897,635 14 2038 21,054,726 278,184 96.982% 268,818 67,204 201,613 1,992,474 15 2039 21,265,273 281,166 96.982% 271,699 67,925 203,775 2,083,578 16 2040 21,477,926 284,178 96.982% 274,609 68,652 205,957 2,171,093 17 2041 21,692,705 287,220 96.982% 277,548 69,387 208,161 2,255,159 18 2042 21,909,632 290,292 96.982% 280,517 70,129 210,388 2,335,912 19 2043 22,128,728 293,395 96.982% 283,516 70,879 212,637 2,413,481 20 2044 22,350,016 296,529 96.982% 286,545 71,636 214,909 2,487,993 21 2045 22,573,516 299,695 96.982% 289,604 72,401 217,203 2,559,567 22 2046 22,799,251 302,892 96.982% 292,693 73,173 219,519 2,628,318 23 2047 23,027,243 306,121 96.982% 295,813 73,953 221,860 2,694,357 24 2048 23,257,516 309,382 96.982% 298,965 74,741 224,224 2,757,791 25 2049 23,490,091 312,676 96.982% 302,147 75,537 226,611 2,818,722 26 2050 23,724,992 316,003 96.982% 305,363 112,707 192,655 2,867,954 6,972,845 1,480,867 5,491,978 2,867,954 TOTAL = Key Assumptions for Cash Flow: 1 Taxable market value (TMV) annual growth assumption = 1.0% 2 Original Tax Rate estimated based on Taxes Payable Year 2022. 3 Election for captured tax capacity is 100.0% 4 Original Net Tax Capacity is calculated based on a TMV = $1,600,700, NTC calculated for 5 Present value is calculated based on semi-annual payments, 5.15% rate, and dated date of 6 Available TIF is after deducting State Auditor Fee of 0.36%. 7 TMV is estimated based on mixed use building with 87 housing units (average TMV of $165,500 per unit) and 27,342 SF first floor commercial (approximately $150/SF), with 83 spaces of lower level underground parking, in addition to surrounding surface parking. NORTHLAND PUBLIC FINANCE 7/18/2022 / /< r / 1 t l 1 PIO: 155-010-0521030 / / 9 / / A� , o o SHEET NO. I \155-7o` Q. A ' —Q52150 �V BLOCK 52 FIRST ADDITION STONEWOOD DEVELOPMENT PART OF BLOCK 52 CITY OF M ON TI CELLO BOGART, PEDERSON ��& ASSOCIATES, INC. LAND SURVEYING CIVIL ENGINEERING MAPPING 13076 FIRST STREET, BECKER, MN 55308-9322 TEL: 763-262-8822 FAX: 763-262-8844 Area Exhibit for proposed BLOCK 52 FIRST ADD/TION FNk Fr-orer}y Cc) rA %j F. YA PSGE 1d 1 U I hereby certify that this survey, plan, or report was prepared by me or under my direct supervision, and that I am a duly Licensed Land Surveyor under the laws of the State of Minnesota. Signed: Date: Lic. No. X 0 60' 6MM111111i SCALE: I " = 60' Parcel No. Lot l Lot 2 155-010-052150 l0, 052 S.F. N/A 155-010-052140 6,647 S.F. 1, 236 S.F 155-010-052132 4,274 S.F. N/A 155-010-052131 970 S. F. 4,174 S.F. 155-010-052120 N/A 3,200 S. F. 155-010-052110 N/A /8, 723 S F. 155-0/0-052102 N/A 863 S.F. 155-010-052101 N/A 332 S. F. 155-010-052090 N/A 9,780 S.F. 155-010-052070 N/A 1, 485 S.F. 155-010-052071 N/A 9,489 S. F. 155-010-052060 553 S.F. 8,022 S F. 155— 010— 052031 2.482 S. F. 8.684 S F. Total Area 24,978 S.F. 65,988 S.F. DATE: 6/20/22 REV NO. DESIGN BY: DRAWN BY: CEG CHECKED BY: CAW DWG FILE:22-0048AREA FILE NO.:22-0048.00 DATE I DESCRIPTION Y . \ �..� f ' ' / / 8?,a 330• �/' � �Op, /2/ o,32' % _ ~ ♦ 9 w �q ss• x 7 i►�O S2• soh � s6' !� L dr— $ 9€ a ■M MONTICELLO MIXED USE RIVER STREET 4 OVER 2 PODIUM MIXED USE BUILDING LOWER LEVEL PARKING 1st FLOOR COMMERCIAL i 2nd FLOOR RESIDENTIAL I 3rd FLOOR RESIDENTIAL 4th FLOOR RESIDENTIAL I5th FLOOR RESIDENTIAL MEZZANINE MECH./LOFTS (19) EFFICIENCY UNIT (17) ONE BEDROOM (3) ONE BEDROOM + DEN (40) TWO BEDROOM (2) TWO BEDROOM + LOFT (6) THREE BEDROOM (87) TOTAL UNITS BROADWAY LOWER LEVEll BROADWAY OPTION MONTICELLO MINED USE J w oC cn z J Q 4th FLOOR RIVER STREET BROADWAY H w w o� cn w z E: OPTION MONTICELLO MINED USE J W w oc cn z J Q 5th FLOOR RIVER STREET BROADWAY w w o� cn w z H: OPTION MONTICELLO MINED USE J W Lu oc cn z J Q MEZZANINE RIVER STREET BROADWAY w w o� cn w z H: ,it 25 I_ �H7 LOGO lol!F.t NSUMNm FILL ,it AIL Fill � 1 ii kfW LOGO KE Z -a -ti. i} 71 -- -- RH ET AitGMITECTURE gL LOW L04 A fr, .5ii a- , LOGO RHETARCHITICTORN 0,- im LOGO INSURANCE mown MENE No ooil no no n No on n No no so on at; on ME on of on on so No on so URANCE ROSS on so LOGO INSURANCE mown MENE No ooil no no n No no so on at; No on so ME on on: IF- onMR 0 on on on on LOGO URANCE ROSS RHETARCHITICTORN RHET ARCHITICTYRI ;45- 71 RF- �� , ffim On c, N —AL 0.5 i' . Ile m I Z, It's, r. 17 do ARCH NOW logo" ME MILE M somisim mm__ — — NOTICE OF PUBLIC HEARING CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY WRIGHT COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN that the Board of Commissioners of the City of Monticello Economic Development Authority (the "Authority") will hold a public hearing on Wednesday, August 10, 2022 at approximately 6:00 P.M. or as soon thereafter as the matter may be heard, in the Mississippi Room of the Monticello Community Center located at 505 Walnut Street in the City of Monticello, Minnesota (the "City") regarding two matters: 1. Land Sale. The Authority will conduct a public hearing to consider the proposed sale of certain property owned by the Authority (the "Property") to Deephaven Development LLC, a Minnesota limited liability company, or an entity related thereto or affiliated therewith (the "Redeveloper"), for the construction and development of a mixed-use five -story building to include approximately 87 rental housing units and approximately 27,342 square feet of commercial retail and office space and related parking (the "Project") in furtherance of the Authority's goals for its Central Monticello Redevelopment Project No. 1. The Property is legally described as follows: 101 W Broadway St, 107 W Broadway St, 113 W Broadway St, 121 W Broadway St, 103 Pine St, 112 W River St To be Replatted as "Lot 2, Block 1, Block 52 First Addition" The Authority will consider the sale of the Property under Minnesota Statutes, Section 469.105, as amended. A summary of the terms and conditions of the land sale is available for public inspection at City Hall during regular business hours. At the hearing, the Authority will meet to decide if the sale is advisable. 2. Business Subsidy. In addition, the Authority will conduct a public hearing to consider the provisions of a proposed business subsidy under Minnesota Statutes, Sections 116J.993 through 116J.995, as amended (the "Business Subsidy Law"), to the Redeveloper, in connection with the Project. The Authority proposes to provide tax increment assistance, a Minnesota Department of Employment and Economic Development Redevelopment Grant, and a land write down to the Redeveloper in connection with the Project. Information about the proposed business subsidy for the Redeveloper is available for inspection at the office of the Authority's Executive Director at City Hall during regular business hours. After the public hearing the Authority will consider granting the business subsidy in accordance with the proposed terms. A person with residence in or the owner of taxable property in the City may file a written complaint with the Authority if the Authority fails to comply with the Business Subsidy Law, and no action may be filed against the Authority for the failure to comply unless a written complaint is filed. All interested persons may appear at the hearing and present their views on the matters orally or provide their comments prior to the meeting in writing. Dated: July 22, 2022 BY ORDER OF THE BOARD OF COMMISSIONERS OF THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY /s/ Jim Thares DOCSOPEN\MN 1 90\ 159\778860.v 1-2/8/22 Executive Director DOCSOPEN\MN 1 90\ 159\778860.v 1-2/8/22 EDA: 08/10/22 6. Consideration of Resolution No. 2022-25 Authorizing the 2023 HRA Property Tax Levy in the amount of $402,000 and the EDA General Fund Budget in the amount of $450,000 (JT/SR) A. REFERENCE AND BACKGROUND: Staff is asking the EDA to consider Resolution No. 2022-25 authorizing the 2023 HRA Special Benefit property tax levy in the amount of $402,000 and the EDA General Fund Budget in the amount of $450,000. The proposed tax levy would increase by $14,000 or 3.61 percent over the 2022 certified levy amount of $388,000. The attached spreadsheet shows the 2023 General Fund budget operating expenditures line items. Typical operating line items consist of staff salaries and benefits, overhead (electricity, computer maintenance, postage), legal fees, financial advisor fees, marketing, and various memberships such as the Wright County Economic Development Partnership and Economic Development Association of Minnesota. Larger property acquisition - redevelopment activities are funded through the General Fund cash balance and/or other available unrestricted funds. Specific budget line items vary in degree of increase and decrease for 2023. The City Finance Director provided all salary and fringe benefit line items. The remaining line items were based on historical trends, the EDA Work Plan and anticipated work items. The 2023 Redevelopment Activities line item is $134,698, a 24.44 percent increase over 2022. This line has historically been flexible and filled based on the available levy remaining. The line items is used to fund such items as the Fagade Improvement Grant Program, property acquisition and acquisition related activities. Unused funds in all line items carry over from year to year as fund balance (reserves) in the EDA General Fund, which are available for various EDA goals as needed. CET Grant dollars were used in spring of 2022 to complete an Integrated Marketing and Communications Plan (IMCP) and develop templates. Specific to this work task, the follow up effort is in the realm of active messaging and marketing efforts expected to occur in 2023. Accordingly, the Advertising line item of the budget reflects increased activity. It should be noted that all CET Grant activities were finalized in mid-June 2022 with a final funding request submitted to MN -DEED on June 28, 2022. On the revenue side of the ledger, projected interest earnings total $42,000. A transfer of $6,000 is for the EDA stipend payments (transfer from City account to EDA General Fund). In the table below, the amount of the maximum allowed property tax levy along with the EDA's actual certified levy is shown over a timeframe spanning 2016 (when the HRA levy began) to 2023. The table also shows the City's projected 2023 taxable market value. The City's total taxable property valuation increased by $73,568,000 over the previous year. The maximum 2023 allowed levy is $402,000 or 0.0185 percent of the prior year property valuation of $2,173,573,500. Year Taxable Mkt. Value* Allowed Levy by Statute Actual Levy 2023 $2,173,573,500 $402,000 $????? 2022 $2,100,005,500 $388,000 $388,000 2021 $1,980,148,000 $366,300 $366,300 2020 $1,923,814,900 $355,000 $355,000 2019 $1,883,565,600 $348,000 $348,000 2018 $1,748,750,200 $323,000 $323,000 2017 $1,631,446,700 $302,000 $280,000 2016 $1,513,570,400 $280,000 $280,000 *Taxable market value is for the calendar year prior to the levy year, e.g., 2023 levy is based on 2022 Taxable Market Value amount The proposed levy is calculated at 0.0185 percent x municipal taxable market value (2023 =.000185x$2,173,573,500) Al. STAFF IMPACT: The staff impact to seek feedback about the levy is minimal. A2. BUDGET IMPACT: The cost of presenting the 2023 Property Tax Levy discussion to the EDA for review and feedback is minimal. It is part of the normal work duties of the Economic Development Manager and City Finance Director. A3. COMPREHENSIVE PLAN IMPACT: Goals that relate to the establishment of the HRA Levy and EDA Budget include the following: Goal #1 — Create and Preserve Sustainable Livability: Work to attract and develop a healthy mix of housing options. Goal #4 - Support A Vibrant Economy: Expand City/EDA owned industrial land inventory 2 in targeted areas; Support development and redevelopment efforts for publicly owned properties. B. ALTERNATIVE ACTIONS: 1. Motion approving Resolution No. 2022-25 authorizing the 2023 Special Benefit HRA Property Tax Levy in the amount of $402,000. 2. Motion to table consideration of Resolution No. 2022-25 for further research and/or discussion. C. STAFF RECOMMENDATION: Setting the annual levy is a policy decision for the EDA. It should be noted that the proposed budget reflects the efforts and the resources needed to effectively carry out the EDA's Work Plan goals and overall mission of facilitating economic development, redevelopment and housing activities that expand the tax base, increase employment opportunities and create a vibrant economy. These are wide-ranging, community -impacting goals. Specific activities, some of which are currently underway, will carry over into 2024 and 2025. These include a continuation of final Block 52 redevelopment activities, potential Fagade Improvement program expenditures (grants), marketing of the Block 34 and Cedar Garden Center site consistent with the IMCP and potential industrial development land acquisition(s). The 2022-2024 EDA Workplan is attached as supporting documentation to this report. D. SUPPORTING DATA: A. Resolution No. 2022-25 B. 2023 EDA General Fund Expenses and Revenue Budget Proposal C. EDA Financial Statements [Rev. -Exp. and Bal Sheet] - Qtr. #2-2022 (06-30-22) D. 2022-2024 EDA Workplan Goals and Objectives CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2022-25 AUTHORIZING THE LEVY OF A SPECIAL BENEFIT TAX PURSUANT TO MINNESOTA STATUTES, SECTION 469.033, SUBDIVISION 6 AND APPROVING A BUDGET FOR FISCAL YEAR 2023 WHEREAS, pursuant to Minnesota Statutes, Sections 469.090 through 469.1081, as amended, the City Council of the City of Monticello, Minnesota (the "City") previously created the City of Monticello Economic Development Authority (the "Authority"); and WHEREAS, the Authority is authorized to exercise all powers and duties of a housing and redevelopment authority under the provisions of Minnesota Statutes, Sections 469.001 to 469.047 (the "HRA Act"); and WHEREAS, Section 469.033, subd. 6, of the HRA Act permits the Authority to levy and collect a special benefit tax of up to 0.0185 percent of taxable market value in the City, levied upon all taxable real property within the City, to finance the Authority's economic development and redevelopment activities; and WHEREAS, the special benefit tax levy authorized by Section 469.033, subd. 6 of the HRA Act is separate and distinct from the City's levy and is not subject to the City's levy limits; and WHEREAS, the Authority desires to levy a special benefit tax in the amount of 0.0185 percent of taxable market value in the City; and WHEREAS, the Authority has determined to adopt a budget for fiscal year 2023 that provides for the levy of the special benefit tax in the amount of 0.0185 percent of taxable market value of property in the City, to be used for the Authority's economic development and redevelopment activities. NOW, THEREFORE, Be It Resolved by the Board of Commissioners ("Board") of the City of Monticello Economic Development Authority as follows: The Board hereby approves a budget of $450,000 (excluding TIF district and loan activity) for fiscal year 2023, including the levy of a special benefit tax in an amount not to exceed $402,000, subject to approval of such budget by the City Council prior to September 30, 2022. 2. Staff of the Authority is hereby authorized and directed to file the budget with the City in accordance with Minnesota Statutes, Section 469.033, Subdivision 6, and request that the City Council consider approval of the special benefits tax levy. MN190\101\814298.v1 There is hereby levied a special benefit tax pursuant to Minnesota Statutes, Section 469.033, Subdivision 6, in an amount not to exceed $402,000 with respect to taxes payable in calendar year 2023, contingent upon the approval of the City Council. 4. Staff of the Authority is hereby authorized and directed to take such other actions as are necessary to levy and certify such levy upon approval by the City Council. Approved by the Board of Commissioners of the City of Monticello Economic Development Authority this 10th day of August, 2022. President Attest: Executive Director MN190\101\814298.v1 2 LLL c Z a x V M W � C0 1� O t0 00 N i i � to d. 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O ri ri , r -4e-1 M m t W LO LO LO M 1 M Mm ',M Mm M'M M Mfm as o!0 00 O 0!0 0 o;oo v F-' 0 0 o io 0 0'o 0 0 0.0 z000io0000o�00 m �00Colo '0o00`010 o00.0Oo00;0010 M 0 t M!m',M M M M!M M M m p !U e-1 r -I ri I ri N' jQ N N N N N N;N N N N'N Schedule of Assets, Liabilities, Deferred Inflows of Resources, and Fund Balances Economic Development Authority & Small Cities Development Program June 30, 2022 - Unaudited ASSETS Cash and investments Receivables Delinquent taxes Intrafund receivable Nates receivable Land held for resale TOTAL ASSETS LIABILITIES Intrafund payable Unearned revenue Escrow deposits Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes FUND BALANCES Nonspendable Restricted Assigned Total fund balance TOTAL LIABILITIES, AND FUND BALANCES Required or Actual Decertification Date TIF District Type (d) = decertified 955 TIF 6 (d) TIF 19 TIF 20 (d) TIF 22 TIF 24 TIF 29 TIF 30 TIF 34 TIF 40 TIF 41 GAAP Total Total EDA General GMEF TIF Future Raindance MS Shores Prairie West Downtown St. Henry's Front Porch CMHP Interchange Briggs UMC Reconciliation EDA SCDP $ 602,898 $ 925,951 $ - $ 18,001 $ 152,225 $ 104,220 $ 637,181 $ 203,745 $ 215,826 $ 121,344 $ 164,926 $ 26,377 $ (238) $ - $ 3,172,456 $ 786,564 955 - - - - - 1,835 - - - - - - - 2,790 - 136,782 - - 731,000 - - - - - - - - - (867,782) - - - 312,783 - - - - - - - - - - - - 312,783 140,060 3,513,757 12/31/2045 12/31/2030 163,200 Redevelopment Housing Redevelopment Housing & 3,676,957 Housing $ 4,254,392 $ 1,238,734 $ $ 749,001 $ 152,225 $ 104,220 $ 802,216 $ 203,745 $ 215,826 $ 121,344 $ 164,926 $ 26,377 $ (238) $ (867,782) $ 7,164,986 $ 926,624 $ - $ - $ 45,363 $ - $ - $ - $ - $ - $ - $ 91,419 $ - $ - $ 731,000 $ (867,782) $ - $ - - - - - - - 163,200 - - - - - - (163,200) - - (33,390) (33,390) (33,390) 45,363 163,200 91,419 731,000 (1,030,982) (33,390) 955 1,835 2,790 - 1,238,734 - 749,001 152,225 104,220 637,181 203,745 215,826 29,925 164,926 26,377 (731,238) 163,200 2,954,122 926,624 4,286,827 (45,363) 4,241,464 4,286,827 1,238,734 (45,363) 749,001 152,225 104,220 637,181 203,745 215,826 29,925 164,926 26,377 (731,238) 163,200 7,195,586 926,624 $ 4,254,392 $ 1,238,734 $ $ 749,001 $ 152,225 $ 104,220 $ 802,216 $ 203,745 $ 215,826 $ 121,344 $ 164,926 $ 26,377 $ (238) $ (867,782) $ 7,164,986 $ 926,624 129,2013 1213112023 12/1012018 1213112024 12/31/2025 1213112029 12/31/2029 12/31/2022 12/31/2045 12/31/2030 Redevelopment Housing Redevelopment Housing & Housing Housing Housing Redevelopment Housing Economic Redevelopment Development Schedule of Revenues, Expenditures and Other Financing Sources (Uses) Economic Development Authority & Small Cities Development Program For the Period Ended June 30, 2022 - Unaudited Rev Property taxes Tax increments Intergovernmental Charges for services Investment earnings Interest on loans Other revenues Total revenues Expenditures: Current Salary and wages Benefits Supplies Professional services - legal Professional services - other LPV Insurance Legal and general publications Property taxes Marketing Dues and membership Utilities IT services Travel and conferences Land adjustment to market Other expenditures Excess increments Interest on intrafund loans PAYG payments to third parties Total expenditures Net change in fund balances Fund balance at beginning of year Fund balance at end of year Required or Actual Decertfca8on Dale TIF District Type (d)=decertified CITY OF MONTICELLO 57,121 TIF 6 (d) TIF 19 TIF 20 (d) TIF 22 TIF 24 TIF 29 TIF 30 TIF 34 TIF 40 TIF 41 GAAP Total Total EDA General GMEF TIF Future Raindance MS Shores Prairie West Downtown St. Henrys Front Porch CMHP Interchange Briggs UMC Reconciliation EDA SCDP $ 198,830 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 198,830 $ - - - - - 20,527 - 130,337 29,918 21,862 8,447 110,423 24,779 - - 346,293 - 300,000 - - _ - - - - - - - - - - - 300,000 - - 3,683 - - - - - - - - - - - - 3,683 2,002 8,700 - - - - - - - - 8,700 - 507,530 3,683 20,527 130,337 29,918 21,862 8,447 110,423 24,779 857,506 2,002 57,121 - - - - - - - - - - - - - 57,121 - 21,387 - - - - - - - - - - - - - 21,387 - 245 - - - - - - - - - - - - - 245 - 5,283 - - - 249 - 286 249 - 249 - - 238 - 6,554 - 90,706 - - - - - - - - - - - - - 90,706 - 980 - - - - - - - - - - - - - 980 - 203 - - - - - - - - - - - - - 203 - 13,664 - - - - - - - - - - - - - 13,664 - 24,766 - - - - - - - - - - - - - 24,766 - 5,891 - - - - - - - - - - - - - 5,891 - 3,585 - - - - - - - - - - - - - 3,585 - 1,830 - - - - - - - - - - - - - 1,830 - 1,372 - - - - - - - - - - - - - 1,372 - - 441,710 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 441,710 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 668,743 249 286 249 249 238 670,014 (161,213) 3,683 - - 20,278 - 130,051 29,669 21,862 8,198 110,423 24,779 (238) - 187,492 2,002 4,448,040 1,235,051 (45,363) 749,001 131,947 104,220 507,130 174,076 193,964 21,727 54,503 1,598 (731,000) 163,200 7,008,094 924,622 $ 4,286,827 $ 1,238,734 $ (45,363) $ 749,001 $ 152,225 $ 104,220 $ 637,181 $ 203,745 $ 215,826 $ 29,925 $ 164,926 $ 26,377 $ (731,238) $ 163,200 $7 5586 $ 926,624 1292013 121312023 12/102018 121312024 12/372026 12/312029 12/312029 12/312022 121312045 12/372030 Redevelopment Housing Redevelopment Housing & Housing Housing Housing Redevelopment Housing Economic Redevelopment Development Monticello MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY 2022-2024 ECONOMIC DEVELOPMENT WORK PLAN EDA Purpose: The EDA is charged with coordinating and administering the City of Monticello's economic development and redevelopment plans and programs. The EDA is also responsible for housing and housing redevelopment. EDA Work Plan Mission Statement: The EDA's work plan is adopted in support of achieving the goals of the Monticello 2040 + Comprehensive Plan. The EDA will be proactive by developing and undertaking actions for achievement of the Comprehensive Plan's Economic Development goals and will be reactive in responding to economic development opportunities as they arise in the most timely and effective manner possible. The EDA shall utilize the Economic Development Implementation Chart contained in the Comprehensive Plan as a guiding document creating its 2022-2024 Work Plan. Comprehensive Plan Goals: 1. Business Attraction and Retention 2. Tax Base Expansion 3. Downtown Vitality 4. Redevelopment and Reinvestment 5. Life Cycle Housing 6. Workforce Development 7. Promotion and Partnerships 8. Opportunity Focus Areas 11 Page GOAL #1: BUSINESS ATTRACTION AND RETENTION Policy 1.1. Business and Employment Retention Strategies: 1. Maintain a strong Business Retention and Expansion (BR&E) program to monitor opportunities for continued growth and expansion of businesses as well as the continued relationship development between the City and existing businesses. 2. Identify and support companies that are expanding and adding employees. 3. Identify and promote programs that assist existing companies in expansion and creation of new positions. 4. Assist and support companies in accessing business assistance programs including financing and educational programs. 5. Bring Businesses and Educations Organizations together to create training programs to foster new living wage opportunities. Policy 1.2: Local Business Support Strategies: I . Facilitate relationships with existing businesses on the expansion, redevelopment and improvement of their buildings and facilities. 2. Consider facade rehabilitation programs, small business loans, grants and other tools to encourage property reinvestment and support local businesses. 3. Foster partnerships and maintain networking relationships with the goal of maintaining communication in support of existing businesses. GOAL #2: TAX BASE EXPANSION Policy 2.1: Diversify economic sectors to broaden the base of available living wage employment in the community. Strategies I. Capitalize on the proximity to the I-94 regional transportation facilities, available land and educated and skilled workforce to create opportunities for job growth. 2. Inventory existing industry clusters by attracting similar and complementary businesses. 3. Work with existing business clusters to expand the attraction of supply chain companies. 4. Recognize changing land use patterns for industrial parks, and other or alternative uses such as co -working spaces. Policy 2.2: Maintain a business development and job creation toolbox to assist existing and future businesses. Strategies: Continue discussion on use of tax reimbursement/abatement, including development of criteria/application. 21 Page 2. Identify and communicate new or innovative state and federal programs or grants which could be leveraged to support business development. 3. Proactively support small business start-up efforts through programs, collaborative efforts and various tools available for small businesses. Policy 2.3. Work collaboratively with partners to foster the attraction of new businesses. Strategies: 1. Continue to support the IEDC interactions within the Wright County Workforce Pathways efforts in addressing workforce needs and training. 2. Consider IEDC recommendations and be prepared to be a partner in potential solutions based on WCWFP findings. 3. Partner with Wright County EDA on infrastructure and development project funding as warranted. GOAL #3: DOWNTOWN VITALITY Policy 3.1: Implement the recommendations of the Downtown Small Area Plan. Strategies: 1. Support and advocate for improvements to the downtown as envisioned in the Small Area Plan and Walnut Street Corridor Plan. 2. Develop and support the appropriate policies, programs, and incentives that enable the type of development described in the Plan. 3. Continue to build a funding base for use in property acquisition and redevelopment efforts in targeted areas. 4. Implement a facade improvement program for desired revitalization areas. 5. Continue to meet with downtown property owners with the goal of relationship building in informal group settings (Downtown Rounds) or individually and to understand their concerns with traffic, parking, land use and possible reinvestment in their property as well as willingness to sell, partner, desired price, etc. 6. Encourage continued incorporation of arts as an economic development tool for Downtown Monticello and the community at -large. 7. Support opportunities for park and pathway development as consistent with the Downtown Small Area Plan. 8. Encourage the redesign of the pathway connection under the MN-TH #25 bridge to incorporate safety elements and improved lighting. 9. Ensure that greenway and pedestrian/cycle connections are considered within the downtown and from the downtown to other areas within the community. 10. Support park improvements in the downtown area. 31 Page GOAL #4: REDEVELOPMENT & REINVESTMENT Policy 4.1: Redevelopment: Continue to support redevelopment efforts for publicly owned properties in Block 52, Block 34 and other EDA owned sites. Strategies: 1. Work collaboratively with the selected developer to implement an agreed upon Block 52 redevelopment proposal utilizing Small Area Plan vision and principals. 2. Advocate for adequate City Council support for related Block 52 infrastructure components that are impacted by redevelopment proposals. 3. Advocate for the best designs and efficient traffic circulation related to the Walnut Street - River Street connection in support of Block 52 redevelopment. 4. Remain open to and analyze strategic opportunities for redevelopment throughout the community. 5. Proactively market Block 34, the Cedar/Broadway site, 4th Street site, West River Street parcel and the West 7th Street land tract to the commercial and residential development community. GOAL #5: LIFE -CYCLE HOUSING Policy 5.1: Actively promote and seek opportunities for the development of a wide variety of housing types, styles and price points as a mechanism to support and attract employment. Strategies: 1. Develop revised policy statements for housing which address the identified 2020 Housing Study needs. 2. Continue to market workforce housing development on EDA owned land along East 4th Street and Outlot A, Country Club Manor, or at other suitable sites in the City, including the Downtown. 3. Support efforts by private and non-profit entities to develop affordable housing projects utilizing state and federal programs. 4. Examine the use and application of available housing TIF dollars per the 2016 TIF Management Plan and the adopted Policy Statements for Available TIF Funds. 5. Continue to periodically examine housing stock for aging or blighted properties and research development of programs for redevelopment and/or revitalization of existing housing. 6. Market the availability of incentives/subsidies available for development of housing. GOAL #6: WORKFORCE DEVELOPMENT Policy 6.1. Diversified and Skilled Workforce Strategies: 1. Support interactions with local organizations to address workforce needs and training. 41 Page 2. Partner with Wright County Workforce Pathways (WCWFP) on solutions for workforce needs and training. 3. Promote Central Minnesota Jobs and Training Services as an option to Community College or university for students seeking alternative careers in the trades, manufacturing, and similar sectors. 4. Support the development of a plan to market living wage employment opportunities. GOAL #7: PROMOTION & PARTNERSHIPS Policy 7.1: Create and maintain a comprehensive Marketing & Communication Strategy for priority sectors and locations. Strategies: 1. Identify community partners that can be regularly engaged and advised on economic development activities and events. 2. Engage with partners in the development of strategic marketing plan, including creation of an overall economic development brand, for various focus audiences and sectors of development; residential, commercial and industrial and redevelopment. 3. Incorporate the marketing of EDA incentive programs in a more proactive manner, both within the community and beyond, a. Present existing and new incentive programs to smaller community groups, local banks, realtors, and local businesses either in an informal group session or a formal roundtable format. b. Develop and communicate a "complete" development package program which provides support and assistance to prospects and developers from inquiry to construction. 4. Market industrial development at the Monticello Business Center (Otter Creek Business Park) to a broad variety of prospects as guided by the Comprehensive Plan. a. Focus on prospects which serve or rely on the St. Cloud and Twin Cities markets. b. Focus on supply chain prospects. 5. In collaboration with the IEDC, communicate with current business and industry in support of Business Retention & Expansion. a. Engage in informal business and industry small group meetings and explore potential format of helpful formal round tables meetings. b. Work with the Monticello Times to do a business spotlight or profile article two times per year. c. Leverage the networks of existing commercial and industrial entities currently doing business in and around Monticello. Policy 7.2: Engage as a partner in local and regional planning and development opportunities. Strategies: 1. Monitor the regional planning efforts of the Central Mississippi River Regional Planning Partnership (CMRRPP) and engage with feedback as requested. 51 Page 2. Consider funding and/or completing studies that provide policy and strategy framework for desired land uses/or projects in the downtown and for other programs. 3. Monitor commuter rail development in and around the Twin Cities metro region for potential benefits and opportunities to serve Monticello. GOAL #8. OPPORTUNITY FOCUS AREAS Policy 8.1: Opportunity Focus Areas 1. Maintain open lines of communication with property and business owners to understand their long-term development objectives. 2. Consider strategies, loans, grants and other financing methods to boost reinvestment and improvements. 3. Encourage public infrastructure investment in these areas in an effort to support private investment. Policy 8.2: Support community quality -of -life initiatives which act as economic development tools. Strategies: 1. Encourage and support coordinated planning and development of parks, trails in or near business districts. 2. Increase the visibility of the intersection of all amenities including parks and trails with the economic hubs of the city. 3. Support the development of Bertram Chain of Lakes Regional Park, including community Connections. Appendix: Monticello 2040 Vision + Plan, Economic Development and Implementation 61 Page EDA Agenda: 08/10/22 7. Consideration of WSB Economic Development Assistance Update (JT) A. REFERENCE AND BACKGROUND: WSB & Associates Economic Development Coordinator has provided a summary of assistance activities that he is currently engaged in at this time. Mr. Gromberg will also attend the EDA meeting to discuss the summary and answer questions of the EDA. Al. Budget Impact: None A2: Staff Impact: None ALTERNATIVE ACTIONS: 1. No action required 2. Action as determined by the EDA B. STAFF RECOMMENDATION: No recommendation. Informational update only. C. SUPPORTING DATA: A. WSB Summary Report wsb Memorandum To: Jim Thares, Economic Development Manager From: Jim Gromberg, Economic Development Coordinator Date: August 5, 2022 Re: Project Updates WSB Project No. 013322-00 Thank you for the opportunity to continue to assist the City of Monticello in their continued efforts to provide economic vitality for the community and the residents. Below are updates on some of the projects and insights to the trends currently facing the city. 2 The city currently has several projects in progress for the continued growth the commercial - 0 industrial tax base. In addition to the tax base growth these projects will allow for the continued 0. availability of employment opportunities in Monticello. Z UJ CO Project Updates: Washburn Manufacturing: • The company has currently suspended the project until a later date to allow for a longer CO history of successful operation from the new ownership group. • The city continues to work with the company on the acquisition of the property to the co .south for the expansion. • The retention of the property for the expansion will require involvement from the EDA to allow for the use of TIF assistance in the future when the project moves forward. • The availability of the site continues to be tied to the Moon Motors expansion project and the navigating of that relationship. Project Emma/Moon Motors: 0 The company if currently working with the city on the development of a facility in the o OCBP. a The city is working with the company on the size and the design to maximize the site that Z has been identified by the company for the project. Z As the process moves forward the city will need to accommodate the relationship with the 2 site to the south of Washburn POS site. • The city is continuing to encourage the company to maximize the size of the facility to meet the needs of the potential TIF generation to meet the value of the lot for the project. LU Willi Hahn Project: • The project is moving forward with the company receiving $660,000 in JCF assistance U) from DEED. W The company has received an award letter from DEED confirming the assistance for the Z project 'a The project will include the creation of 41 new jobs for the new facility. a0 The project will be completed in the next 2 years to gain the full amount of the award. Z UJ X 0 Monticello EDA August 5, 2022 Page 2 CEDS Update: • The Comprehensive Economic Development Strategy (CEDS) for Benton, Stearns, Sherburne, and Wright Counties is currently being reviewed and updated. • This updated is being led by Sherburne County (available staffing) to meet the deadline. • The first meeting was conducted in late July to review and develop a new SWOT analysis that will serve as a basis for the update of the CEDS. • The CEDS needs to be updated by the end of 2022 to allow for the region to receive any potential federal funding for projects. • The accelerated timeline is due primarily to the issues created by the recent pandemic. Shovel Ready Site Update: • The information for the Shovel Ready Sites is nearing completion. • The final piece of information is the completion of the ALTA survey which cannot be completed until the final plat is recorded by Wright County. • Upon completion of the ALTA survey, the information will be submitted to DEED for their review. • Upon their preliminary review, the city will formally submit the information for the sites including the application fee for certification. Outlook: • National job report shows the creation of 528,000 non-farm jobs created in July. • Average hourly wages increased 5.2% continuing the trend of growing wages. • Minnesota's unemployment rate is hovering around 2% compared to the national rate of 3.5%. • Federal Reserve has increased their rate by 150 basis points since the start of the year to slow the economy and keep inflation under control. • GDP has contracted over the last 2 months. • Residential real estate market remains strong; however, the Federal Reserve rate increases are having the desired effect. • Inflation rate is currently between 8.6% -9.1 %. Please let me know if you have any questions concerning the above projects or require additional information on the projects. In addition, let me know if you have additional projects that should be reviewed and included. EDA Agenda: 08/10/22 8. Economic Development Director's Report (JT) A. Wiha Tools Job Creation Fund Grant Approval Letter — Exhibit A B. Prospect List Update: Please see the updated Prospect List as Exhibit B. C. Additional August Meeting Discussion July 29, 2022 Mr. Eric Iverson Chief Financial Officer Willi Hahn Corporation 1348 Dundas Circle Monticello, MN 55362 Dear Mr. Iverson: I am pleased to inform you that Willi Hahn Corporation's application for Job Creation Fund designation is approved. As outlined in the application, Willi Hahn Corporation is expected to have $9,805,000 in eligible capital expenditures and create 41 new jobs. Based on those and other factors, the Department of Employment and Economic Development will provide up to $660,000 in a Job Creation Fund award to Willi Hahn Corporation, consisting of up to $175,000 in a job creation award and $485,000 in a capital investment rebate. The contract will have a five (5) year term. To facilitate the timely delivery of this assistance, all contracts and agreements associated with this financing must be completed within 120 days from the date of this letter or the award may be rescinded. A business subsidy agreement, which includes a provision regarding prevailing wage, is being prepared by the Economic Development & Research Division staff. Please note that no project expenditures or job creation that occurs prior to execution of the business subsidy agreement by all parties will be eligible for rebate or count toward job creation requirements. Staff will also provide you with additional information on performance goals, reporting and requesting funds. For additional information, contact Tom Washa, Program Administrator, at 651-259-7483. Thank you for your investment and job creation in Minnesota. We are excited about your expansion and look forward to your long-term success. Regards, Steve Grove Commissioner C: Senator Bruce Anderson Representative Marion O'Neill Jim Thares, City of Monticello Minnesota Department of Employment and Economic Development 332 Minnesota Street, Suite E200, St. Paul, MN 55101 Phone 651/259-7114 or 1-800-657-3858 mn.gov/deed Date of Contact 6/22/2017 5/22/2018 11/29/2018 3/28/2019 5/9/2019 8/16/2019 1/20/2020 8/27/2020 30-22 11/5/2020 2/16/2021 3/19/2021 PROSPECT LIST 08/02/2022 Company Name Business Category Project Description Project #6580 Metal Mfg. New Facility Constr. Karlsburger Foods Food Products Mfg. Facilty Expansion Project Blitzen Precision Machining Exist Bldg or New Const. Building -Facility Retained lobs New lobs Total Investment Project Status 70,000 sq. ft. 0 49 $5,480,000 On Hold 20,000 sq. ft. +/- 42 10 to $4,500,000 On Hold Project Panda v3 20 New Construction _ 12,000 sq. ft. 10 $1,200,000 Concept Stage Project Nutt Co -Working Space Existing Building ? ? Project FSJP Light Mfg -Res. Lab New Construction 20,000 sq. ft. 0 Project Jaguar Office New Construction 22,000 sq. ft. 22 Project Panda v3 Service -Child Care New Construction 10,500 sq. ft. 0 Project Nuss Combo Service -sale New Construction 30,000 sq. ft. 0 Project TDBBST Industrial New Construction 10,000 to 15,000 sq. 0 21 $12,000,000 Concept Stage ft. Project Flower Office Existing 7,000-8,000 sq. ft. 0 Project Cold Industrial -Warehouse -Di New Construction 80,000 sq. ft. 0 stri Project Orion Warehouse-Distributi New Construction 832,500 sq. ft. 0 on ? ? Concept Stage 20+/- $1,400,000 Active Search 4 $2,700,000 Active Search 21 $4,100,000 Active Search 20 to $3,500,000 Almost Done 30 9 $1,850,000 Concept Stage 12 $750,000 Concept Stage 21 $12,000,000 Concept Stage 500 $125,000,000 Active Search 2/28/2022 Project Emma II Light Ind -Assembly New Construction 20,000 sq. ff. 0 4 $1,350,000 Active Search 6/16/2021 Project UBAA Child Care Services New Construction or Exist 5,000 sq. ft. 0 14 to 19 $2,000,000 Act Search 6/30/2021 7/29/2021 10/28/2021 Project Ecosphere Industrial Tech Mfg. New Construction 1,000,000 sq. ft. 0 1122 $85,000,000 Act Search Project BA710 Lt Assem-Distribute New Construction 6,500 to 7,000 sq. ft 0 10 $650,000 Active Search Project Stallion Technology Service New Construction WW000 sq� � $3,600,000 Active Search 2/7/2022 Project Shepherd Lt Assembly Distribution New Construction 75,000 sq. ft. 75 $10,500,000 Active Search III 4/28/2022 Project Cougar Precision Machining -Mfg. New Construction 35,000 to 45,000 sq. ft. 38 $4,700,000 Active Search Contacts: M = 04 YTD = 18