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EDA Minutes - 05/10/2023MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, May 10, 2023 — 6:00 p.m. Mississippi Room, Monticello Community Center SPECIAL MEETING — ECONOMIC DEVELOPMENT AUTHORITY (EDA) Monticello Community Center — Academy Room 5:15 p.m. Discussion of Downtown Facade Improvement Forgivable Loan Program Application Submittals Review of EDA landholdings Commissioners Present: President Steve Johnson, Vice President Jon Morphew, 011ie Koropchak-White, Rick Barger and Councilmembers Lloyd Hilgart and Tracy Hinz Commissioners Absent: Treasurer Hali Sittig Staff Present: Executive Director Jim Thares, Rachel Leonard, Angela Schumann, Hayden Stensgard 1. General Business A. Call to Order President Steve Johnson called the regular meeting of the Monticello EDA to order at 6:07 p.m. B. Roll Call 6:00 p.m. Mr. Johnson called the roll. C. Consideration of Additional Agenda Items None 2. Consent Agenda A. Consideration of Approving Payment of Bills B. Consideration of Approving Regular Meeting Minutes — April 12, 2023 C. Consideration of Authorizing Art Project —130 East Broadway, Block 34 (EDA Owned D. Consideration of Authorizing Wright County Sheriff's Office temporary use of vacant OCBP lots for K-9 Training in Spring -Summer of 2023 TRACY HINZ MOVED TO APPROVED THE CONSENT AGENDA. JON MORPHEW SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. 3. Regular Agenda A. Consideration of LOST (Local Option Sales Tax) Update — Rachel Leonard, City Administratnr City Administrator Rachel Leonard provided an overview of the agenda item to the EDA and the public. Ms. Leonard gave an update on the status of Monticello's efforts to get authorization to propose a Local Option Sales Tax (LOST) to the Monticello residents. Provided at the meeting also was a presentation related to an analysis of the proposed Monticello LOST completed by the University of Minnesota Extension Office. This presentation has since been posted to the EDA agenda page on the City of Monticello's website. Jon Morphew asked if surrounding communities have implemented a LOST. Mayor Hilgart confirmed that there are many surrounding communities that implemented already or are in the process of obtaining authorization for LOST. No action was taken on the item. B. Consideration of Authorizing funding for a Tourism Economic Impact Study by the University of MN in the amount of $3,000 Community Development Director Angela Schumann provided an overview of the agenda item to the EDA and the public. The proposed economic impact analysis would help quantify both the existing and future economic impact of the athletic park on the Monticello community and local economy. The analysis would help staff better understand the overall economic contribution of the Bertram Chain of Lakes to the Monticello community. Understanding these impacts will also help guide necessary future Park development phasing steps for the Bertram Chain of Lakes. Mr. Morphew asked if the Pointes at Cedar area would be included in this study. Ms. Schumann clarified that it had been discussed with the University of Minnesota, however, the methods of analysis that are to be used do not accurately quantify economic impacts for prospective projects. JON MORPHEW MOVED TO SUPPORT COMPLETION OF AN ECONOMIC IMPACT ANALYSIS OF SPORTS TOURISM BY THE UNIVERSITY OF MINNESOTA TOURISM CENTER WITH AN EDA ALLOCATION OF $3,000. LLOYD HILGART SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. C. Consideration of Authorizing a Housing Market Needs and Demand Study Update Executive Director Jim Thares provided an overview of the agenda item. The Study Update proposed stems from a workshop that the City Council had where staff provided an update on housing information for Monticello. It was understood that an update to the housing study would provide helpful information to policy makers and staff regarding housing trends and economic factor influencers as there are indications that additional multi -family concept proposals may be submitted to the City for consideration in the near future. The Study Update was originally contemplated as being a 2024 Work Plan task. The EDA is being asked to move the Study Update forward by 12 months to 2023. OLLIE KOROPCHAK-WHITE MOVED TO AUTHORIZE A HOUSING NEEDS AND MARKET DEMAND STUDY UPDATE, INCLUDING A SPECIFIC SCOPE OF WORK AND FURTHER AUTHORIZING NEGOTIATIONS WITH CONSULTING FIRMS REGARDING PROFESSIONAL SERVICE CONTRACT QUOTES... Discussion Jon Morphew asked if this decision is related to engaging in discussion of a housing update, not authorizing an update. Mr. Thares confirmed and noted that a quote for the update would be provided to the EDA for review and consideration at a later meeting. .RICK BARGER SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. D. Consideration of Adopting Resolution No. 2023-05 amending the 2022 Pooled TIF Allocation Plan Mr. Thares provided an overview of the agenda item to the EDA and the public. This item is a financial tracking paperwork housekeeping technical item and is related to a previously approved action item for the Headwaters Senior Housing development wherein the EDA authorized a total of $80,000 towards contaminated soil mitigation efforts on the previously EDA owned parcel in which the Headwaters West Senior Residential Development is being built on. The reason for amending the allocation plan is that it will allow the EDA to use the pooled TIF funds to cover the cost, rather than using funds from the general fund. LLOYD HILGART MOVED TO ADOPT RESOLUTION NO. 2023-05, AMENDING THE 2022 POOLED TIF ALLOCATION PLAN INCREASING THE POOLED AFFORDABLE HOUSING TIF ALLOCATION INTO TIF DISTRICTS 1-42 AND 1-43 BY $80,000, TO $880,000. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6- 0. 4. Other Business A. Economic Development Manager's Report Mr. Thares provided an overview of the agenda item to the EDA and the public. Mayor Hilgart noted that the EDA should consider an update to the Hotel Study from 2020. The EDA was in consensus to direct staff to begin efforts to update the 2020 Hotel Study. 5. Adjournment TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO EDA. SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. MEETING ADJOURNED AT 7:08 P.M. Recorded By: Hayden Stensgard 1-15 Date Approved: June 14, 2023 ATTEST: Jim thares, �xecutive Director