EDA Agenda 05-20-1998
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AGENDA
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
Wednesday, May 20,1998 - 7:00 p.m.
City Hall
MEMBERS: Chair Ron Hoglund, Vice Chair Barb Schwientek, Assist Treasurer Ken Maus,
Clint Herbst, Roger Carlson, Bill Demeules, and Darrin Lahr.
STAFF:
Rick W olfsteller and Ollie Koropchak.
GUEST:
Steve Johnson, Property Owner
1. CALL TO ORDER.
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2. CONSIDERATION TO APPROVE THE JANUARY 20, FEBRUARY 2t>, AND
APRIL 14,1998 EDAMINUTES.
3. CONSIDERATION OF ADDING AGENDA ITEMS.
4. CONSIDERATION TO REVIEW FOR APPROV ALIDISAPPROV AL THE DMRF
APPLICATION FOR 107 WEST BROADWAY.
5.
CONSIDERATION TO REVIEW THE DMRF GUIDELINES AND APPLICATION
FORM FOR MODIFICATION.
6. OTHER BUSINESS.
a) Joint Commissions/City Council Meeting - May 21,6:00 p.m.
b) Next regular EDA meeting - July 28, 7:00 p.m.
7. ADJOURNMENT.
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MINUTES
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
Tuesday, April 14, 1998 - 7:00 p.m.
City Hall
MEMBERS PRESENT:
Chair Ron Hoglund, Vice Chair Barb Schwientek, Assist Treasurer
Ken Maus, and Darrin Lahr.
MEMBERS ABSENT:
Clint Herbst, Roger Carlson, and Bill Demeules.
STAFF PRESENT: Ollie Koropchak.
GUESTS:
AI Loch, Loch Jewelers
Dan Olson, State Farm Insurance
1. Call to order.
Chair Hoglund called the EDA meeting to order at 7:00 p.m.
2.
Consideration to approve the January 20 and February 17, 1998 ED A minutes.
Members agreed to table any action as minutes were not available.
3.
Consideration of adding agenda items.
No agenda items were added.
4. Consideration to review for approval/disapproval the DMRF application for 148 West
Broadway.
AI Loch informed EDA members of his plans to install a new acid~etched glass, gold-leaf
filled sign and new front windows and to repaint the brick. Previously, the brick had been
sandblasted which today does not allow the brick to be exposed as this would cause
disintegration. The brick will be re~grouted and windows installed the week of April 27.
Ken Maus made a motion to approve DMRF in the amount of $2,500 for front facade and
signage and $500 fee reimbursement at 148 West Broadway with disbursal offunds
subject to completed improvement review and approval by DAT and receipt of invoices.
Barb Schwientek seconded the motion and with no discussion, the motion passed
unanimously.
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EDA MINUTES
APRIL 14, 1998
In discussion of a centralized dumpster area for occupants and owners of the
northwesterly portion of Block 35, EDA members referred the concern to the MCP-
Design Team for possible resolution.
5. Consideration to review for approval/disapproval the DMRF application for 207 West 3
Street.
Koropchak informed members that DA T has not reviewed the application from the Olson.
DAT meets tomorrow a.m. and the application is on their agenda. The EDA can either
table any action or approve/disapprove with approval subject to DAT recommendations.
Dan Olson informed EDA members of his plans to rehab the chimney, install new
windows on second floor, replace the roof and outside trim, and make improvements to
the landscaping. He reported he is able to secure a craftsmen to rehab the chimney of the
residential structure which houses State Farm Insurance on the first floor and an apartment
on the second. EDA members felt and agreed the character of the chimney adds charm to
the residential structure which differentiates it from a commercial structure. Additionally,
they agreed window replacement qualified; however, felt roof repair was not facade
improvement. The landscaping and outside trim would be done at a later time.
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Barb Schwientek made a motion to approve the DMRF in the amount of $2,355.54 for
front facade and signage, $1,756.54 for rear facade, and $2,355.54 for side facade
improvements and $500 for fee reimbursement at 207 West 3 Street subject to approval
by DAT for compliance of the Design Guidelines. Darrin Lahr seconded the motion and
with no further discussion, the motion passed unanimously. Disbursal offunds subject to
completed improvement review and approval by DAT and receipt of invoices. The
chimney rehab was approved because of the added charm to the residential structure.
6.
Executive Director's report.
Accepted as written.
7. Other Business.
None.
8. Adjournment.
The EDA meeting adjourned at 8:00 p.m.
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a ~ ~ CJ\I....J(:J Q~ , Executive Director
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EDA AGENDA
MAY 20, 1998
4. Consideration to review for approval/disapproval the DMRF a,pplication for 107 West
Broadw&y.
A. Reference and Background:
The DMRF application is from Steve Johnson, property owner of the building occupied by
the MCP. Steve will inform the EDA of his proposed revitalization improvements and a
description of the improvements are outlined in the enclosed DAT review. Please
consider the following when reviewing this application.
Purpose
Does the proposed project seek to promote the revitalization of downtown Monticello?
1. Enhances storefronts and facades in accordance with the design guidelines in the Plan.
Yes X No
2. Encourages the rehabilitation of building in~ors to bring them into compliance with
local codes and ordinances. Yes No
3. Encourages building rehabilitation to provide space suitable for the proposed use. Yes
--:i- No
4. Provides funding to close the "gap" between financing ne.eded to undertake the project
and the amount raised by equity and private loans. Yes l No ~
5. Provides economic incentives to locate businesses in the downtown. Yes L No
Target Area Preference given to Blocks 35,36,51, and 52, Original Plat.
This proposed project lies within the preferred area. Location Block 52.
Facade Grants
Matching grant of $2,500 for eligible improvements to the front facade and signage.
Request $1,750. Projected cost of improvements $3,500 Equity $1,750.
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EDA AGENDA
MAY 20, 1998
Criteria to meet:
1. Do the improvements meet the applicable design guidelines and all codes and
ordinances?
Yes+ No~
2. Does the amount of the grant match the amount of the private investment up to the
stated limit? Y es ~ No
Matching grant of up to $2,500 for eligible improvements to the rear facade.
1. Do the improvements meet the applicable design guidelines and all codes and
ordinances?
Yes No
2. Does the amount ofthe grant match the amount of the private investment up to the
stated limit? Yes No
Matching grant of up to $2,500 for eligible improvements to the side facade.
Request $700. Projected cost of improvements $1,400. Equity $700.
1. Do the improvements meet the applicable design guidelines and all codes and
ordin~fes?
Yes~No
2. Does the amoun~fthe grant match the amount of the private investment up to the
stated limit? Yes -+- No
Fee Reimbursement
Reimbursement of City fees in an amount equivalent of 10% of the total cost of the
improvements up to a maximum of $500.
Request $200. Projected costs of city fees $200.
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EDA AGENDA
MAY 20, 1998
Non-Performance
The approved DMRF becomes null and void iffunds are not drawn or disbursed within
270 days from date of ED A approval February 20,1999.
B. Alternative Action:
1. A motion to approve DMRF in the amount of $ for front facade and
signage, for side facade, and $ for fee reimbursement at
107 West Broadway. Terms and conditions as determined.
2. A motion to deny approval ofDMRF in the amount of$1,700 for front facade and
signage, $700 for side facade, and $200 for fee reimbursement at 107 West
Broadway.
3. A motion to table any action.
C.
Recommendation:
Recommendation is to approve the request for a total of $2,400 DMRF Match Grant and
$200 Reimbursement Fees with disbursal offunds subject to completed improvement
review and approval by DAT and receipt of invoices.
D.
Supporting Data:
Copy of the application from Steve Johnson and DAT recommendation.
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DOWNTOWN MONTICELLO REVITALIZATION FUND
MontiteUo Etonomit Development Authority ~ 271-3208
250 East Broadway, POBox 1147
MonticeUo, MN SS3(j2
F1.JND APPLICATION
L Ras'~ In{armati(),,~
Name of ApplicantlPropeny Owner Steven C. Johnson
Address of ApplicantIProperty Owner P.O. Box 598, Monticello, MN 55362
Telephone Number of Applicant/Property Owner 612-295-5588
Social Security of Applicant/Property Owner 475-60-2395
Tax ID# of ApplicantlProperty Owner N/A
II.
Nature of Revitalization Fund Request:
Street Address of Revitalization Propeny 107 West Broadway
PID Number of Revitalization Property 155-010-52070
Legal Description of Revitalization Property - Block 52
16.50 ft to swly 90 ft
Lot(s) lot 8
Revitalization Property is currently:
Occupied X
Prospective Occupant
Unoccupied
If applicable, Name of Occupant (Business) or Prospective Occupant (Business)
MCP
If applicable. brief description of the nature of the business ofthe occupant:
Office for Monticello Community Partners
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Downtown Monticello Revitalization Fund
Fund Application
III. Type of Revitalization Fund Request:
A. Facade Grllnts
1. Front Facade and Sianaae Grant (Matching funds of up to $2,500)
AmOWlt ofR.equest S $1 ,750
Projected Cost ofImprovemeuts $ $3,500
Amount of Equity $ $1.750
Amount of Private Loans $ 0
Brief description of the improvements for which applicant is seeking funds:
Place cornice and awnings on the front of the building to bring to the style in
historical photos. The top awning is not illustrated.
A drawing of the project is attached.
2. Rear Facade Grant (Matching funds of up to $2,500)
Amount of Request $
N/A
N/A
Projected Cost of Improvements $
. N/A
Amount of Private Loans $
N/A
Amount of Equity $
Brief description of the improvements for which applicant is seeking funds:
3. Side Facade Grant lifapplicable) (Matching funds of up to $2,500)
Amount of Request $ $700 Projected Cost ofImprovements.$ $1,400
Amount of Equity $J700
Amount of Private Loans S 0
Brief description of the improvements for which applicant U 5CCking fund,:
Place cornice and awnings to resemble historical photos.
A drawing of the project is attached.
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Downtown Monticello Revitalization Fund
Fund Application
B. Rehabilitation Loan (Maximum amount is the lesser of250/0 of total cost of the
improvements or $20,000)
Amount of Request $ N/A
Amount of Equity $ N/ A
Projected Cost of Improvements $ N/A
Amount of Private Loans $ N/A
Brief description of the improvements for which applicant is seeking funds:
N/A
C. Fee Rcimbunement (Reimbursement of City fees in an amount equivalent of
10% of the total cost of the improvements up to a maximum of$500)
Amount or Request S 200
IV.
Lender Informatioo:
Name of Participating Lender
frojected Cost Of City Fees S 200
N/A
Contact Person
Telephone number
I/we certify that all information provided in this application is true and correct to the best of
my/our mow1edge.
Date
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Design Advisory Team Review
Team Members Present
Rita Ulrich, Ron Hoglund, Susie Wojchouski. Pam Campbell
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Date April~, 1998
Team Members Absent
Gail Cole
EXMOfficio Members Present
Fred Patch, Ollie Koropchak
Applicant Present
No
Property Owner Steven C. Johnson
Building Address 107 W. Broadway Monticello
Sketch of Proposed Facade Improvements:
See attached
Improvements in conformance with the Design Guidelines:
Historic pictures show this building with a cornice and a QiR~1 beneath it. The property
owner's plan is to reconstruct a cornice and dentil around the top of the building. The material used
will be some form of stucco to replace what was lost. Those pictures also show retractable awnings.
The proposed awnings will cover the Broadway-facing windows and doors as well as the window
facing east.
Improvements in non-conformance with the Design Guidelines: .
Stucco would not be recommended if this were a restoration. But for rehabilitation purposes
it is just fine. The lower cost with virtually the same visual impact cannot be argued. The new
awnings will not be retractable, but the fixed awnings respect the building's integrity just as well.
Design Advisory Team Recommendation:
To approve the application with the understanding that the property owner will apply for all
necessary building permits and adhere to all other codes and ordinances.
Comments:
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EDA AGENDA
MAY 20, 1998
5. Consideration to review the Downtown Monticello Revitali7.ation Fund (DMRF)
Guidelines and tlPplication form for modification
A Reference and BacklP"ound:
At the Design Advisory Team (DAT) meeting of April 15, members ofDAT requested the
EDA consider their recommendation to modifY the DMRF Guidelines and application
form.
Recommended modification to DMRF Guidelines
Add the following language to FACADE GRANTS, REHABILIT A TrON LOAN. AND
FEE REIMBURSEMENT, page 2 and 3 of the guidelines: To be eligible for grant funds,
rehabilitation loans, and/or fee reimbursements, projects must meet the following criteria:
1. Improvements must comply with applicable design guidelines and all codes
and ordinances including building permits and inspections.
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Recommended modification to DMRF application form.
Add the following language to III. Type of Revitalization Fund Request, A Facade
Grants, 1,2, and 3, and B. Rehabilitation Loan, page 2 and 3 of the application form:
Please submit a minimum of two written cost estimates for the proposed
revitalization improvements if possible.
Add the following language prior to signature of applicant, page 3 of the application form:
I/we certifY that all information provided in this application is true and correct to
the best of my/our knowledge and I1we agree to apply for and receive aD
applicable building permits prior to tbe start of work and to comply with all
building inspection requirements.
B. Alternative Action.
1. A motion to approve the recommendation by DAT for modification of the DMRF
Guidelines and application form as outlined above with modification of the
guidelines forward to the City Council for approval.
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EDA AGENDA
MAY 20, 1998
2. A motion to approve modification of the DMRF Guidelines and deny modification
of the application form to submit a minimum of two written cost estimates for the
proposed revitalization improvements with modification of the guidelines forward
to the City Council for approval.
3. A motion to deny the recommendations of DAT.
4. A motion to table any action.
C• $eco~nendation
Recommendation is alternative no. 1. The recommendations from DAT were suggestions
from the Building Official and serve as clarifications.
D. Si~port'ng Data•
Copy of the guidelines and application fonm with (*) identifying place to insert
modification.
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DOWNTOWN MONTICELLO REVITALIZATION FUND GUIDELINES
CITY OF MONTICELLO
250 EAST BROADWAY, POBOX 1147
MONTICELLO, MN 55362
(612) 271-3208
PURPOSE
The Monticello Downtown and Riverfront Plan provides a guide for development in the
downtown area. As part of its efforts to implement the Plan, the Monticello Economic
Development Authority (EDA) offers financial assistance and incentives to property owners
through a program known as the Downtown Monticello Revitalization Fund (DMRF).
The DMRF seeks to promote the revitalization of downtown Monticello by:
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Enhancing storefronts and facades in accordance with the design guidelines in the
Plan.
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Encouraging the rehabilitation of building interiors to bring them into compliance
with local codes and ordinances.
*
Encouraging building rehabilitation to provide space suitable for the proposed use.
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Providing funding to close the "gap" between financing needed to undertake the
project and the amount raised by equity and private loans.
*
Providing economic incentives to locate businesses in the Downtown.
These guidelines describe the funding parameters and eligibility criteria for programs offered by
the EDA. Meeting the eligibility criteria does not entitle an applicant to funding. The distribution
of funds is the sole decision ofthe EDA.
TARGET AREA
These financial incentives and assistance will be available for existing buildings within the planning
area described in the Downtown and Riverfront Plan. Preference will be given to property
located in Lots 6 through 15, Block 34, Lots 1 through 10, Block 53, and Blocks 35, 36,51, and
52, Original Plat, City of Monticello.
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DMRF GUIDELINES
FACADE GRANTS
The EDA may provide matching grants in the following amounts:
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Up to $2,500 for eligible improvements to the front facade and signage.
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Up to $2,500 for eligible improvements to promote improvements to the rear
sections of the buildings.
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Up to $2,500 for eligible improvements to the side facade (if applicable).
To be eligible for grant funds, projects must meet the following criteria:
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Improvements must comply with applicable design guidelines and all codes and
ordinances. ....
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The grant will match private investment up to the stated limit.
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Grant funds will be provided after completion of the improvements.
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Applicants will provide the EDA with documentation of the actual cost of the
improvements.
Meeting the eligibility criteria does not entitle an applicant to funding. The distribution of grant
funds is the sole decision of the EDA.
REHABILITATION LOAN
The EDA may provide loans for the rehabilitation of existing buildings. The maximum loan
amount is the lesser of25% of total cost of improvements or $20,000. To be eligible for
rehabilitation loans, projects must meet the following criteria:
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Improvements must comply with applicable design guidelines and all codes and
ordinances. y
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Applicants must provide proof of financing for costs not funded by the grant.
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Loan amortization schedule not exceed ten (10) years, balloon payment in five (5)
years.
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DMRF GUIDELINES
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The interest rate on the loan will be two percent (2%) below the Prime Rate. The
EDA may reduce the interest rate to encourage the reuse of a currently vacant
building, the retention of an existing business, or the creation of a new business.
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The rehabilitation loan will be in a subordinated position to the lender.
FEE REIMBURSEMENT
The EDA may grant reimbursement of City fees associated with undertaking improvement and
revitalization projects in the downtown area. The amount of the reimbursement will be the
equivalent often percent (10%) of the total cost of the improvements up to a maximum of $500.
Fees eligible for reimbursement include building permits, other city inspections, and land use
ordinances. To be eligible for fee reimbursement, projects must meet the following criteria:
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Projects must comply with applicable design guidelines and all codes and
ordinances. ..r
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Reimbursement will be made after completion of the improvements.
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Reimbursement will be based on documentation of actual improvement costs and
fees paid.
MAXIMUM FINANCIAL ASSISTANCE
The maximum amount of financial assistance available to each rehabilitation property is an amount
not to exceed $25,000.
NON-PERFORMANCE
Approved DMRF shall be null and void iffunds are not drawn or disbursed within 270 days from
date of ED A approval.
ORGANIZATION
The Downtown Monticello Revitalization Fund is administered by the City of Monticello
Economic Development Authority (EDA), which is a seven-member board consisting of two
Council members and five appointed members. EDA members are appointed by the Mayor and
confirmed by the City Council. Formal meetings are held on a quarterly basis. Please see the
by-laws of the EDA for more information on the structure of the organization that administers the
Downtown Monticello Revitalization Fund (DMRF).
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DMRF GUIDELINES
P ARTICIP ATING LENDING INSTITUTION
I. Participating lending institution shall be determined by the DMRF applicant.
2. Participating lending institution shall cooperate with the EDA and assist in carrying out
the policies of the DMRF as approved by the City Council.
3. Participating lending institution shall analyze the funding application and indicate to the
EDA the level at which the lending institution will participate in the finance package.
LOAN APPLICATION/ADMINISTRATIVE PROCEDURES
The EDA desires to make the DMRF application process as simple as possible. However, certain
procedures must be followed prior to EDA consideration of a loan request. Information
regarding the program and procedures for obtaining funding is as follows:
City Staff Duties:
The Economic Development Director, working in conjunction with the Assistant City
Administrator, shall carry out DMRF operating procedures as approved by the EDA and Council.
Staff is responsible for assisting an applicant in the application process and will work with the
applicant in development of the necessary information.
Application Process:
1. The applicant will meet with city staff to obtain information about the DMRF, discuss the
proposed project, and obtain a funding application form and a copy of Section 3,4, and 5
ofthe MCP Design Guidelines of the Monticello Downtown and Riverfront Plan.
StaffwiU direct the applicant to contact the MCP Design Advisory Team as a resource for
suggestions and review of improvements which comply with the design guidelines, codes,
and ordinances of the Monticello Downtown and Riverfront Plan.
Staff will request the applicant contact a lending institution regarding financing needs and
indicate to applicant that further action by the EDA on the potential loan will require
indication of support from a lending institution.
2. The applicant shall complete a DMRF application. Staffwill review the application for
consistency with the policies set forth in the Downtown Monticello Revitalization Fund
Guidelines.
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DMRF GUIDELINES
3.
City staff will accept the findings of a lending institution regarding applicant credit and
financial viability of the project. EDA approval will require a letter of support from the
lending institution. Upon receipt of the letter of support, City staff shall submit a written
recommendation to the EDA and a decision regarding the application shall be made by the
EDA within 14 days of submittal of the letter of support from the lending institution.
4.
The EDA shall have authority to approve or deny the financial assistance of the
Downtown Monticello Revitalization Fund.
s.
The EDA shall not disburse approved DMRF without a written acknowledgment from the
MCP Design Advisory Team that construction of the improvements are complete and
comply with applicable design guidelines and all codes and ordinances.
6.
The EDA shall not disburse approved DMRF (grants and reimbursement) without certified
documentation of the actual costs of the improvements and completion of the
improvements.
7.
The EDA shall not disburse the approved DMRF (loan) without proof of financing for
costs not funded by the grant and execution of the loan closing documents.
ORIGINAL FUNDING
SOURCE - Economic Development Authority, Greater Monticello Enterprise Fund
AMOUNT - $200,000 (For Year Ending December 31, 1999).
The EDA shall disburse approved DMRF dollars from the payback of GMEF Liquor Fund dollars
at such time the approved DMRF is disbursed.
REPORTING
Staff shall submit quarterly summaries and/or an annual report detailing the status of the DMRF.
FUND GUIDELINE MODIFICATION
At a minimum, the EDA shall review the Fund Guidelines on an annual basis. No changes to the
DMRF guidelines shall be instituted without prior approval of the City Council.
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DMRF GUIDELINES
LOAN ADMINISTRATION
1. City staff shall service and monitor all loans, matching grants, and fee reimbursements.
2. All loan documents shall include at a minimum, a note and mortgage.
DMRF Guidelines 7/97
DMRF Guidelines amended 2/98
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DOWNTOWN MONTICELLO REVITALIZATION FUND
Monticello Economic Development Authority - 271-3208
250 East Broadway, POBox 1147
Monticello, MN 55362
FUND APPLICATION
L Basic Information:
Name of ApplicantlProperty Owner
Address of ApplicantIProperty Owner
Telephone Number of ApplicantIProperty Owner
Social Security of ApplicantIProperty Owner
Tax ID# of Applicant/Property Owner
II.
Nature of Revitalization Fund Request:
Street Address of Revitalization Property
PID Number of Revitalization Property
Legal Description of Revitalization Property - Block
Lot( s)
Revitalization Property is currently:
Occupied
Unoccupied
Prospective pccupant
If applicable, Name of Occupant (Business) or Prospective Occupant (Business)
If applicable, brief description ofthe nature of the business of the occupant:
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Downtown Monticello Revitalization Fund
Fund Application
III. Type of Revitalization Fund Request:
A. Facade Grants
1. Front Facade and Signage Grant (Matching funds of up to $2,500)
Amount of Request $
Projected Cost ofImprovements $
Amount of Equity $ Amount of Private Loans $
*
Brief description of the improvements for which applicant is seeking funds:
2. Rear Facade Grant (Matching funds of up to $2,500)
Amount of Request $
Projected Cost of Improvements $
Amount of Equity $ Amount of Private Loans $
.lit
Brief description of the improvements for which applicant is seeking funds:
3. Side Facade Grant (if applicable) (Matching funds of up to $2,500)
-*'
Amount of Request $ Projected Cost ofImprovements $
Amount of Equity $
Amount of Private Loans $
Brief description of the improvements for which applicant is seeking funds:
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Downtown Monticello Revitalization Fund
Fund Application
B. Rehabilitation Loan (Maximum amount is the lesser of25% of total cost of the
improvements or $20,000)
Amount of Request $
Projected Cost ofImprovements $
Amount of Equity $ Amount of Private Loans $
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Brief description of the improvements for which applicant is seeking funds:
c. Fee Reimbursement (Reimbursement of City fees in an amount equivalent of
10% of the total cost of the improvements up to a maximum of$500)
Amount of Request $
Projected Cost of City Fees $
IV. Lender Information:
Name of Participating Lender
Contact Person
Telephone number
Ilwe certify that all information provided in this application is true and correct to the best of
my/our knowledge. ....
Signature of Applicant/Property Owner
Date
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