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EDA Agenda - 05/10/2023AGENDA 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 Fagade Improvement Forgivable Loan Program Application Submittals Review of EDA landholdines Commissioners: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, 011ie Koropchak-White, Rick Barger and Councilmembers Lloyd Hilgart and Tracy Hinz Staff: Executive Director Jim Thares, Rachel Leonard, Angela Schumann, Hayden Stensgard 1. General Business A. Call to Order B. Roll Call 6:00 p.m. C. Consideration of Additional Agenda Items 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 3. Regular Agenda A. Consideration of LOST (Local Option Sales Tax) Update — Rachel Leonard, City Administrator B. Consideration of Authorizing funding for a Tourism Economic Impact Study by the University of MN in the amount of $3,000 C. Consideration of Authorizing a Housing Market Needs and Demand Study Update D. Consideration of Adopting Resolution No. 2023-05 amending the 2022 Pooled TIF Allocation Plan 4. Other Business A. Economic Development Manager's Report 5. Adjournment EDA Agenda: 5/10/23 2A. Consideration of Approving Payment of Bills Prepared by: Meeting Date: ❑x Regular Agenda Item Community & Economic Development 5/10/2023 Coordinator Reviewed by: Approved by: N/A Economic Development Director REFERENCE AND BACKGROUND: Accounts Payable summary statements listing bills submitted during the previous month are included for review. ALTERNATIVE ACTIONS: 1. Motion to approve payment of bills through April 2023. 2. Motion to approve payment of bills through April 2023 with changes as directed by the EDA. STAFF RECOMMENDATION: Staff recommends approval of Alternative #1. SUPPORTING DATA: A. Accounts Payable Summary Statements Accounts Payable Transactions by Account User: Julie.Cheney Printed: 04/05/2023 - 4:02PM Batch: 00202.04.2023 Account Number Vendor Description CITYMonticello GL Date Check No 213-46301-431990 DELTA MODULAR CONSTRUCT] Contaminated Soil Remediation 04/11/2023 Vendor Subtotal for Dept:46301 Subtotal for Fund: 213 Report Total: 126869 Amount PO No 80,000.00 80,000.00 80,000.00 80,000.00 AP -Transactions by Account (04/05/2023 - 4:02 PM) Page 1 Accounts Payable Transactions by Account CITY F �User: Julie.Cheney effo Printed: 04/19/2023 - 4:17PM Batch: 00204.04.2023 Account Number Vendor Description GL Date Check No Amount PO No 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 47 - Moon Motors Warehouse De, 04/25/2023 126926 651.50 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 44 - Washburn POS Expansion La 04/25/2023 126926 359.00 Vendor Subtotal for Dept:00000 1,010.50 213-46301-430400 KENNEDY AND GRAVEN CHAR] General EDA- Feb 2023 04/25/2023 126926 189.50 Vendor Subtotal for Dept:46301 189.50 213-46301-431993 WSB & ASSOCIATES INC 2023 Economic Development Service: 04/25/2023 0 1,595.00 Vendor Subtotal for Dept:46301 1,595.00 213-46301-443990 LEAGUE OF MN CITIES INS TRU Co Pay & Deductible for Monti RV Cl 04/25/2023 126928 1,665.33 Vendor Subtotal for Dept:46301 1,665.33 Subtotal for Fund: 213 4,460.33 Report Total: 4,460.33 AP-Transactions by Account (04/19/2023 - 4:17 PM) Page 1 Accounts Payable Transactions b Account CITY F User: Ju Printed: 04/14/2023 - 2:31PM onti effo Batch: 00201.04.2023 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-438200 CITY OF MONTICELLO 7256-004 - 130 Brdwy- Stormwtr 04/15/2023 0 29.75 213-46301-438200 CITY OF MONTICELLO 7256-007 - 103 Pine St- EDA 04/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-008 - 112 River St. W EDA 04/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-0010 - 101 Brdwy W-EDA 04/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-0011 107 Brdwy W- EDA 04/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-013 - 113 Brdwy W - EDA 04/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-014 - 121 Brdwy W - EDA 04/15/2023 0 0.00 Vendor Subtotal for Dept:46301 29.75 213-46301-443990 US BANK CORPORATE PMT SYS Monticello Chamber of Comm - Feb C 04/15/2023 0 20.00 Vendor Subtotal for Dept:46301 20.00 Subtotal for Fund: 213 49.75 Report Total: 49.75 AP -Transactions by Account (04/14/2023 - 2:31 PM) Page 1 Accounts Payable Transactions by Account User: Julie.Cheney Printed: 05/02/2023 - 8:48AM Batch: 00203.04.2023 Account Number " CITY O F ' 4 effo Vendor Description GL Date Check No Amount PO No 213-46301-438100 XCEL ENERGY 51-13295413-8 - 103 Pine St 04/30/2023 Vendor Subtotal for Dept:46301 213-46301-443990 DEMVI LLC Parking Lot Maintenance - April 2023 04/30/2023 Vendor Subtotal for Dept:46301 Subtotal for Fund: 213 Report Total: The preceding list of bills payable totaling $84,723.94 was approved for payment. Date: 5/10/23 Approved by: Hali Sittig - Treasurer 0 0.00 0.00 0 213.86 213.86 213.86 213.86 AP -Transactions by Account (05/02/2023 - 8:48 AM) Page 1 MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, April 12, 2023 — 6:00 p.m. Mississippi Room, Monticello Community Center Commissioners Present: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, 011ie Koropchak-White, Rick Barger, Councilmembers Lloyd Hilgart and Tracy Hinz Staff Present: Executive Director Jim Thares, Angela Schumann, Hayden Stensgard 1. Call to Order President Steve Johnson called the regular meeting of the Monticello EDA to order at 6:20 p.m. 2. Roll Call 6:00 a.m. Mr. Johnson called the roll. 3. Swearing in Rick Barger as new EDA Commissioner Mr. Johnson administered the oath of office to Rick Barger, newly appointed member to the Monticello EDA. 4. Consideration of Additional Agenda Items None 5. Consent Aeenda a. Consideration of Approving Workshop Meeting Minutes — March 1, 2023 b. Consideration of Approving Special Meeting Minutes — March 8, 2023 c. Consideration of Approving Regular Meeting Minutes — March 8, 2023 d. Consideration of Approving Payment of Bills Executive Director Jim Thares noted a discrepancy within the Payment of Bills item relating to water and sewer charges on previously owned EDA property. That discrepancy would be resolved in the coming weeks. STEVE JOHNSON MOVED TO APPROVE THE APRIL 12, 2023, REGULAR MEETING CONSENT AGENDA. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. Regular Agenda 6. Consideration of adopting Resolution No. 2023-04 authorizing an Architectural Services Contract with Rhet Architecture. Fargo. ND. in the amount of 510.000 for building renderings in connection with Facade Improvement Program proposals for Block 52 properties 149 and 155 West Broadway Executive Director Jim Thares provided an overview of the agenda item to the EDA and the public. With interest in the program from the above -noted addresses, the EDA was asked to authorize funding to complete architectural renderings for the properties. The EDA previously funded the Block 35 architectural renderings for those buildings with the goal of maintaining a standard quality and template in elements being considered. The purpose of the renderings is to provide the applicants and the EDA clarity on the intended appearance of the finished fagade. The renderings are used as a reference for the contractor on the required project components and materials. Councilmember Tracy Hinz noted her appreciation for the proposed timeline for completion of the renderings. Jon Morphew asked if City staff were planning to provide Rhet Architecture with the previous rendering done on Block 35 for reference. Mr. Thares noted that staff shared the previous renderings for the Block 35 properties, as well as some historic photos of the properties for reference. Mr. Johnson asked if the drawings would be subject to change, once completed. Mr. Thares confirmed. Mr. Johnson clarified that precedents had been set with Block 34, due to the EDA paying for the completion of architectural renderings for those properties facing West Broadway Street. Councilmember Hinz asked if these renderings will incorporate the goals of the property owners. Mr. Thares confirmed. Mr. Morphew asked what level of input the property owners would have on these renderings. As well as what the EDA's role would be in that discussion. Mr. Thares noted the guidelines establish the program as a collaborative process. Community Development Director Angela Schumann referenced the guidelines of the program, and that the EDA has the discretion to not fund a project on a case-by-case basis. LLOYD HILGART MOVED TO AUTHORIZE A CONTRACT WITH RHET ARCHITECTURE, FARGO, ND, IN THE AMOUNT OF $10,000 FOR FACADE RENDERINGS CONNECTED TO BLOCK 52 FACADE IMPROVEMENT PROJECT PROPOSALS FOR BUILDINGS LOCATED AT 149 AND 155 WEST BROADWAY. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. 7. Economic Development Director's Report Mr. Thares provided an overview of the agenda item to the EDA and the public. Readdressing the note on the Payment of Bills item earlier in the meeting, the EDA would be refunded for billings sent to the EDA for water and sewer costs on previously owned Block 52 property. A letter detailing this from the City of Monticello Utility Billing Specialist, Pat Kovich, was included in the agenda packet. Mr. Thares provided an update on the cost sharing removal of topsoil on the previously owned Country Club Manor site (Headwaters West Development). The developers submitted the necessary documentation for the $80,000 reimbursement as defined in their development contracts. Mr. Johnson asked if the City or the Monticello EDA is liable for the reimbursement cost. Mr. Thares clarified that previously, the City Engineer -Public Works Director had reviewed the Public Works' long-term use of the site as a storage location for street sweeping material. With that as background, the EDA still decided to take on the costs related to the soil remediation efforts and stipulated that it be capped at $80,000 for both the villas and apartment parcels (grand total of $80,000). That language was added into an amended and restated Purchase and Development Contract with Headwaters Development (TIF 1-42 and 1-43). 8. Adjourn TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO EDA. HALI SITTIG SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. MEETING ADJOURNED AT 6:48 EDA Agenda: 05/10/2023 2C. Consideration of Authorizing an Art Project on EDA owned real property located at 130 East Broadway in Block 34 Prepared by: Meeting Date: ❑ Regular Agenda Item Economic Development Manager 05/10/2023 ® Consent Agenda Item Reviewed by: Approved by: Community and Economic Community Development Director Development Coordinator ACTION REQUESTED Motion to authorize Monti Arts to complete a public mish mash art project on the former Zoo building, located at 130 East Broadway Street. REFERENCE AND BACKGROUND The EDA is asked to consider authorizing a visual public art project on the EDA owned building located at 130 East Broadway in Block 34. Sue Seeger, Monti Arts Director, recently proposed using the building, formerly known as the Zoo, to complete a mish mash brick decorating art project. An illustration of the art project proposal is attached. The project would add color and brighten up the general look of Block 34 along Broadway Street. Currently, the building is a light earth toned color brick building. The EDA is not being asked to fund any portion of the art project. No interior access to the former Zoo building is necessary to complete the art project. Also, there is no expected structural impact on the building related to the art project. City staff believe that supporting the Monti Arts programming efforts is a small but important component of a holistic economic development approach. Budget Impact: There is no cost attributed to the EDA related to the proposed art project. II. Staff Workload Impact: City staff workload related to the proposed art project is minimal. III. Comprehensive Plan Impact: The Vision adopted as part of the Monticello 2040 + Plan includes Community Character, Design and Art goals to evoke authenticity, a sense of comfort and well-being, and a collective shared identity. Specifically, the Public Art and Placemaking goals recognize that art provides social, cultural and economic benefits and fosters opportunities for local artists residents and stakeholders to participate in its creative process with an end goal of enlivening and animating public spaces in the City for community use and enjoyment. EDA Agenda: 05/10/2023 STAFF RECOMMENDATION City staff supports the proposed public art project at the former Zoo building. The colorful art project comports with the Comprehensive Plan Vision and will brighten up and enliven the building and entire section of Broadway Street in Block 34. The proposal has no impact on the building structural aspects nor the EDA's resources. SUPPORTING DATA 1. Monti Arts Proposed Mish Mash Public Art Project — Illustration 2. Aerial Photo — Block 34 1 , t/ e0Q Jr!0 PO S A L. From: Tom Pawelk <Tom.Pawelk ci.montic o.mn.us> tz 15�- J 23 Sent: Thursday, April 13, 2023 11:23 AM To: Angela Schumann <Angela.Schuman n@ci.monticello.mn.us>; Jim Thares <Jim.Thares@ci.monticello.mn.us> Cc: Sue Seeger <pseudosu64@gmai1.com> Subject: FW: Brick condemned building across from Walgreens (site permission) Hello, please see email below from MontiArts. Sue was thinking about the old Zoo building. Any thoughts? Tom Pawelk Parks, Arts & Recreation Director City of Monticello (763) 271-3268 tom.pawelk@ci.monticello.mn.us From: Sue Seeger <pseudosu64@gmail.com> Sent: Tuesday, April 11, 2023 8:01 AM To: Tom Pawelk<Tom.Pawelk@ci.monticello.mn.us> Subject: Re: Brick condemned building across from Walgreens (site permission) Circling back now that it's spring.:) On Mon, Mar 6, 2023 at 7:24 PM Sue Seeger <pseudosu64@gmail.com> wrote: Hi Tom, I'd like to get a project going with the teens as soon as it warms up a bit more. The creative community can get in on it too. It'll be a community mish-mosh art project; each artist choosing a brick to do their own design on. We would start with a 3 to 4' band from about 3' high up, and if we get enough participation expand out from there. Here's a pic to give the idea. I assume this building will be torn down anyway at some point. Seeing a bunch of teens and artists out creating a pop of color and fun downtown amid all the construction should create some feel good vibes... (?) 2 0,,Beacon rrWright County, M N Overview Legend Roads — CSAHCL — CTYCL — MUNICL —W PRIVATECL — TWPCL Highways Interstate State Hwy US Hwy City/Township Limits ®c �t Parcels Torrens Parcel ID 155010034102 Alternate ID n/a Owner Address 505 WALNUTST Sec/Twp/Rng 11-121-025 Class 958 - 5E MUNICIPAL -PUBLIC SERVICE -OTHER MONTICELLO, MN 55362 Property Address 130 BROADWAY E Acreage n/a MONTICELLO District (1101) CITY OF MONTICELLO-0882 Brief Tax Description SECT -11 TWP-121 RANGE -025 ORIGINAL PLAT MONTICELLO BLOCK -034 N11OFT OF LTS 10 &11& N11OFT OF E9FT OF LT12 BLK 34 N11OFT OF LTS 10 &11& N11OFT OF E9FT OF LT12 BLK 34 (Note: Not to be used on legal documents) Date created: 5/4/2023 Last Data Uploaded: 5/4/2023 7:22:12 AM Developed byCw j Schneider GEOSPATIAL EDA Agenda: 05/10/2023 2D. Consideration of Authorizing the Wright County Sheriff's Office to temporarily use vacant land in Otter Creek Business Park (OCBP) for K-9 Training purposes in the springy and summer of 2023 Prepared by: Meeting Date: ❑ Regular Agenda Item Economic Development Manager 05/10/2023 ® Consent Agenda Item Reviewed by: Approved by: Community and Economic Community Development Director Development Coordinator ACTION REQUESTED Motion to authorize Wright County Sheriff's Office to temporarily use vacant land in Otter Creek Business Park (OCBP) for K-9 Training purposes in the spring and summer of 2023. REFERENCE AND BACKGROUND The EDA is being asked to consider authorizing the Wright County Sherriff's Office (WCSO) to temporarily use vacant land in OCBP for K-9 Training purposes in the spring and summer of 2023. The K-9 training consists of handlers and dogs participating in a variety of activities in the open lots. There are no permanent or temporary structures placed on the site as part of the training. The materials used in the training consisting of small portable equipment personal gear and are gathered up and removed from the site after the training session concludes. No vehicles will be parked on the lots as there is ample street parking available. Budget Impact: There is no cost attributed to the EDA related to the K-9 Training activities proposed at OCBP. II. Staff Workload Impact: City staff workload related to the proposed K-9 Training inquiry is minimal. STAFF RECOMMENDATION City staff support the request from the WCSO request to temporarily use vacant land in OCBP for K-9 Training purposes throughout the spring and summer of 2023. The activities will have minimal temporary impact on the vacant lots. All materials used by the WCSO are small, portable and will be removed upon completion of the training sessions. SUPPORTING DATA 1. Email inquiry regarding use of OCBP vacant land for K-9 Training Jim Thares From: Tom Pawelk Sent: Monday, May 1, 2023 2:29 PM To: Jim Thares Subject: FW: K9 Jim, Any issues with WC using lots in industrial park again this year? Tom Pawelk Parks, Arts & Recreation Director City of Monticello (763) 271-3268 tom.pawelk@ci.monticello.mn.us From: Daniel M. Cotten <Daniel.Cotten@co.wright.mn.us> Sent: Monday, May 1, 2023 2:24 PM To: Tom Pawelk <Tom.Pawelk@ci.monticello.mn.us> Subject: Re: K9 Just looking to use some of the article pads we had used last year during canine trials. Ours have not started growing yet. I don't need anything from the city other than permission to use those pads we had last year. Last year for Trials we had 80 out there. I only am going to use 5 or 10. Normally, I have a spot for training, but I mowed them down last fall, and the never ending winter has caused them to not start growing yet. Get Outlook for iOS From: Tom Pawelk<Tom.Pawelk@ci.monticello.mn.us> Sent: Monday, May 1, 2023 1:28:45 PM To: Daniel M. Cotten <Daniel.Cotten@co.wright.mn.us> Subject: RE: K9 CAUTION: This email originated from outside of Wright County. Do not click links or open attachments unless you verify with the sender and know the content is safe. Dan, Rachel asked me to reach out regarding K9 training again this year, can you share what your looking for? Tom Pawelk Parks, Arts & Recreation Director City of Monticello (763) 271-3268 tom.pawelk@ci.monticello.mn.us 1 From: Daniel M. Cotten <Daniel.Cotten@co.wright.mn.us> Sent: Thursday, March 24, 2022 2:35 PM To: Tom Pawelk<Tom.Pawelk@ci.monticello.mn.us> Subject: K9 You can't see the lines going left to right in pic but you can see the ones going up and down in pic if that makes sense. Economic Development Authority Agenda: 5/10/2023 3A. Local Option Sales Tax (LOST) Update Prepared by: Meeting Date: ® Regular Agenda Item Administrative Assistant 5/10/2023 Reviewed by: Approved by: N/A Economic Development Director REFERENCE AND BACKGROUND Rachel Leonard, City Administrator, update of the Local Option Sales Tax. SUPPORTING DATA • Distributed at the meeting. EDA Agenda: 05/10/23 313. Consideration 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 in project funding. Prepared by: Meeting Date: ® Regular Agenda Item Community Development Director 5/10/23 ❑ Consent Agenda Item Reviewed by: Approved by: Parks & Recreation Director, Economic City Administrator Development Manager, Community & Economic Development Coordinator ACTION REQUESTED Motion 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. Motion of other. REFERENCE AND BACKGROUND The Bertram Chain of Lakes Regional Athletic Park (BCOLAP) is a significant recreational resource for the Monticello community. Since 2008, the City has invested in the acquisition of land and later the phased development of improvements at the athletic park in an effort to achieve multiple goals — providing a high-quality recreational experience for the community, consolidating and efficiently providing active field space, and furthering economic opportunity through regional athletic play. Staff are proposing the completion of an economic impact analysis to more clearly quantify both the existing and future economic impact of the athletic park on the Monticello community. Recent discussions on local sales tax revenue generation and the regional nature of BCOLAP led staff to the University of Minnesota Tourism Center. The U of M Tourism Center has assisted other communities with similar studies of the economic value of recreational assets. For Monticello and Bertram specifically, the U of M proposes a study yielding the following information: • How much do sports tourists spend in the community during their visit? The study will determine a per person spending profile for sports tourists in Monticello and an estimate of total local spending by sports tourists in the community. • Which businesses directly benefit from sports tourists? EDA Agenda: 05/10/23 The study will provide information on spending by sports tourists and their travel parties at Monticello businesses. • Which businesses indirectly benefit from sports tourists? Indirect and induced patterns of economic impact will be identified. Indirect spending is spending multiplied in the community — for example, a visitor buys dinner at a local restaurant. That restaurant then makes purchases from its food supplier. The study will also look at induced impact, which is the impact of income spent by an employee of a business where the visitor spending occurs. • What opportunities exist to increase the economic benefits of sports tourism in Monticello? The study will also seek to identify the percentage of spending going to neighboring communities and why. The U of M's study proposal is attached and outlines the approach, methods, and timeline for the project. The primary source of data will be the deployment and collection of a visitor/user survey taken over the summer months, the most intense use period for Bertram. The survey will be developed specific to Monticello and Bertram in a collaborative effort between the experts at the U of M Tourism Center and the Parks & Recreation and Community & Economic Development staff. The data resulting from the analysis will be useful to the City as it continues to evaluate the phasing and budgeting for BCOLAP in terms of overall economic contribution to the community. The nature of the survey prepared will also provide important information on economic opportunity lost to neighboring communities. This "economic bleed" will support the city as it works to attract additional hospitality enterprises to Monticello, including restaurants and hotels. Together with the EDA's Hospitality Study, the U of M study will be an important resource for marketing the community to this sector of commerce. Budget Impact: The total project cost is estimated at $14,000. The City Council will be asked on May 8 to support the project funding. The EDA is being asked to contribute $3,000 toward supporting the study, which if approved would reduce the City's cost to approximately $11,000. The project budget includes $7,000 which would be paid to the U of M Tourism Center, with the remaining amount paid to existing part-time staff for their work to execute the study survey. This project was not a budgeted EDA expense for 2023. If the EDA elects to allocate funding, the $3,000 proposed would come from the "Redevelopment Activities" line item of the EDA budget, which has sufficient capacity for the expenditure. EDA Agenda: 05/10/23 II. Staff Workload Impact: Community Development and Parks and Recreation staff will be involved in the survey development and deployment. Total staff time, including paid hourly part-time employees, is expected to be 100-130 hours. III. Comprehensive Plan Impact: The Monticello 2040 Plan's Parks & Pathways chapter states that Monticello's parks system is "anchored by the 1,500 -acre Bertram Chain of Lakes Regional Park". The chapter includes specific goals for securing adequate long- term funding for maintenance and investment in existing parks and pathways completing the phased development of Regional Athletic Park at the Bertram Chain of Lakes and promoting its use and enjoyment. The proposed study will provide the community with concrete data on the economic value of this recreational resource. STAFF RECOMMENDED ACTION Staff recommends approval of the completion of the Economic Impact Analysis for BCOLAP. The Bertram Chain of Lakes is already recognized for its intrinsic value as a natural and recreational resource for the community. The Economic Impact Analysis will now provide the City and EDA with specific technical data on its value as an economic draw for the community. SUPPORTING DATA 1. U of M Tourism Center Proposal, Monticello 2. BCOL Master Plan 3. Case Study Example, East Grand Forks Ice Arena PROPOSAL: "ECONOMIC CONTRIBUTION OF THE ATHLETIC EVENTS AT BERTRAM CHAIN OF LAKES REGIONAL PARK" CLIENT Angela Schumann Community Development Director City of Monticello 505 Walnut Street Monticello, MN 55362 763-271-3224 Angela.Schumann@ci.monticello.mn.us PROJECT START — END DATES Start Date: May 10, 2023 Pilot Results: June 29, 2023 Full Project Results and Project End: December 15, 2023 PROJECT OVERVIEW The City of Monticello, in partnership with Wright County, has created a 1,200 acre park in the county. Bertram Chain of Lakes Regional Park has many activities and amenities including trails for mountain biking, skiing, hiking, and walking, an amphitheater, fishing pier, campground, and swimming beach. In addition, Monticello is in the process of developing an athletic park. Currently, the park has soccer and lacrosse fields. These fields have been attracting visitors from across Minnesota to events held on the site, introducing Monticello to the sports tourism market. Sports tourism is a growing segment of the tourism economy. Nationally, the number of sports tourists increased by nearly 6 percent in the five years between 2015 and 2019. Meanwhile, spending by sports travelers, event organizers, and venues increased by almost 17 percent.' Sports tourists include adult and youth amateur plus collegiate tournament participants. The City of Monticello is interested in understanding how sports tourism related to the Betram Chain of Lakes athletic fields is impacting the city's economy. City staff reached out to University of Minnesota Extension's economic impact analysis team. Extension staff, in turn, created this proposal to measure the economic contribution of sporting events held at the park. ' Tourism Economics (2019). Sports Tourism: State of the Industry Report 2019. Retrieved from https://www. sportseta.org/portals/sportscommissions/Documents/Reports/TourismEconomics%20- 20Sports%20ETA%2OSOTIYo20%20FINAL_82 620.pdf The goal of this project is to answer the following questions: • How much do sports tourists spend in the community during their visit? • Which businesses directly benefit from sports tourists? • Which businesses indirectly benefit from sports tourists? • What opportunities exist to increase the economic benefits of sports tourism in Monticello? APPROACH AND METHODS Economic impact is comprised of direct, indirect, and induced effects. The direct effect is the spending directly related to the activity itself - in this case, the spending by sports tourists and their travel parties. Indirect and induced effects are the impacts on other businesses due to the direct spending. Indirect impacts relate to the supply chain - for example, a visitor buys dinner at a local restaurant. That restaurant, in turn, makes purchases from its food supplier, from the local utility for electricity, and so forth. Those businesses then must increase their production, demanding more from their suppliers, and so forth. Induced impacts relate to the spending of income. A restaurant worker earns income, which they then spend on housing, health care, and food. Thus, increasing activity on those supply chains. The next section of this proposal lays out how Extension intends to quantify each of those impacts. DIRECT EFFECT To quantify the economic impact, Extension will determine a per person spending profile for sports tourists in Monticello. We will then multiply that by the estimated number of sports tourists to get total local spending. In essence, we need two pieces of information - the number of sports tourists and how much they spend in the city during their visits. To estimate the number of sports tourists, we will collaborate with the City of Monticello. The City of Monticello will maintain a list of events held on the fields. They will also have a count of the number of teams participating in the events and an estimate of the number of players per team. The City will provide this information to Extension. To quantify per person spending, Extension will conduct a survey of sports tourists. We propose two methods for survey collection. 1. Survey notifications. There are certain locations throughout the city where sports tourists typically stop and congregate. Extension proposes developing posters and postcards that can be distributed in these locations. The posters/postcards will have QR codes that people can scan to take the survey. 2. Intercept survey. The City of Monticello would need to find volunteers to collect in-person surveys. These volunteers would be assigned a scheduled time (based on information about events and common ride time to collect surveys in-person. These surveys would be paper and pencil. Extension will need to collect 400 surveys throughout the summer to have enough data for the analysis. Extension proposes to conduct a pilot test of this system in May and June of 2023. The pilot would include designing the survey, deploying the survey via volunteer intercept surveyors, and Extension analyzing the survey data. Our goal would be to have preliminary data by the end of June. This would allow both parties to see how the process works. If at the end of the pilot, data collection is not going as well as planned, either party can opt to stop the project. If data collection is going well, both parties would work to do additional survey gathering in July and August. INDIRECT AND INDUCED EFFECTS Input-output models trace the flow of goods and services throughout an economy. Once the flow is established, the models can quantify how a change in one area of the economy (for example, tourism) affects other areas of the economy. Extension will use the input-output model IMPLAN is this analysis. TIMELINE Phase 1: Pilot in May/June 2022 Task Responsible Party Dates -Finalize plans -Build local support/awareness -Assemble team -Determine events to survey All May 2023 Design survey instruments Extension lead Input from local team May 2023 Train volunteers Extension May 2023 Deploy surveys via volunteers at events All Late May -mid June 2023 Analyze data Extension Mid -June 2023 Preliminary data Extension By June 29, 2023 Phase II: Full Study in July/August 2023 Task Responsible Party Dates E, Visit with City of Monticello on lessons Extension team June 29, 2023 learned from pilot Finalize plans All Late June 2023 -Build local support/awareness -Assemble team -Hire local coordinator, if needed -Determine survey locations Review survey instruments, if needed Extension lead June 2023 Input from local team Develop sampling plans Extension lead June 2023 -Dates/times for surveying Input from local team Train additional volunteers, if needed Extension June 2023 Deploy surveys All July —August 2023 Enter survey data Extension (students) September — October 2023 Analyze data Extension October 2023 Preliminary data Extension November 15, 2023 Final report complete All December 15, 2023 COST The tasks and associated costs are listed in the table. The project will launch and start with survey design and coordination of each of the survey approaches. Extension will lead this process with input from the local team. The next step is to survey sports tourists. Extension proposes two approaches to surveying. The first approach is to place posters with a QR code leading to the survey in places sports tourists visit. Extension recommends the City of Monticello directly cover the cost to print and post the signs with the QR code. The second approach is to directly interview sports tourists. Extension will rely on the City of Monticello to recruit volunteers for the surveying. We recommend offering the volunteers a stipend. In the past, we have paid in the neighborhood of $20 per hour. In order to estimate the cost of this portion of the project, Extension will need to know how many sites we will survey and how long we need to survey - these pieces of information will help us estimate the number of survey hours needed and the number of volunteer surveyors needed. We also recommend the City of Monticello directly pay the surveyors. As a placeholder, we estimated cost based on the number of surveys needed. For 400 surveys, if one volunteer can collect 5 surveys per hour, we need 80 hours of time at $20 per hour, we are estimating $1,600. This could go higher, depending on the response rates. Extension recommends hiring a local coordinator. The local coordinator can handle a number of tasks, including - installing the QR code signs, recruiting and training survey volunteers, ensuring surveys and materials are provided to the volunteers, collecting completed surveys back from the volunteers, and returning the completed surveys to Extension. In the past, we have paid between $2,000 and $3,000 for this role. Finally, Extension will get all the survey data entered, cleaned, and analyzed. We will prepare a visitor profile that provides background information on who are visiting Monticello for sports at the park. We will also do an economic impact analysis. We will provide a report with the summary results. Extension is offering to do the total pilot package for $3,000. This assumes the City of Monticello directly pays the intercept surveyors (if they choose to offer payment). Assuming we go to the full analysis for the summer months, the total costs would be $7,000. Again, this assumes Monticello pays for the surveyors directly. Task Cost for Fall Pilot Cost for Full Study Project launch, survey design and -$1,500 -$3,000 coordination Data collection: -Printing costs to be covered by the -Printing costs to be covered by the -Approach 1: Posters w/QR codes City of Monticello City of Monticello -Approach 2: Intercept surveys -To be determined, recommend $20 -To be determined, recommend $20 -Local coordinator per hour per survey collector; estimate per hour per survey collector; estimate cost of $1,600 cost of $5,000 -$2,000 for a local coordinator Sports Tourist counts (City collects -Included in data analysis -Included in data analysis data and provide to Extension) Data entry and analysis, economic -$1,500 -$4,000 impact analysis, report writing, and presentation DELIVERABLES Extension will provide the following deliverables for this project. • For the pilot, a summary report of the results and a summary of the process and lessons learned • A full report covering the entire summer • Presentation(s) of the results to selected audiences and travel costs STUDY AREA The study area is a key component of an economic contribution study. This analysis will have Wright County as the study area. EXTENSION PERSONNEL • Brigid Tuck, Senior Economic Impact Analyst • Xinyi Qian, Tourism Center Director and State Tourism Specialist • Ami Choi, State Tourism Specialist • Eric King, Extension Educator, Central Minnesota A. UNIVERSITY OF MINNESOTA I EXTENSION © 2023 Regents of the University of Minnesota. All rights reserved. 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'��.f Y Fr=' -e. , 'rM,-�'_ - :.•��c_,:£•x^�" J1 !�' •,t .�,r! .�:.Y_�lir e�y:.. ,:���r� Y�y.=-� �:,N ,,;[��.-ems - - • , b +x �- j'i�� �'G��`- +X= � b.'.+.+t �: y,•±ff-�. .. .'.` ��.]i%.dn"r.:rw Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events A report of the Economic Impact Analysis Program Authored by Brigid Tuck and Rani Bhattacharyya Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events A report of the Economic Impact Analysis Program June 2022 Authored by Brigid Tuck, Senior Economic Impact Analyst and Rani Bhattacharyya, Extension Educator Editor: Mary Jane Stearns, University of Minnesota Extension Report Reviewers: Reid Huttunen, Parks and Recreation Superintendent, City of East Grand Forks Xinyi Qian, Tourism Center Director and Tourism Specialist, University of Minnesota Extension Bruce Schwartau, Program Leader, Center for Community Vitality, University of Minnesota Extension Partners/Sponsors: East Grand Forks Parks and Recreation © 2022, Regents of the University of Minnesota. University of Minnesota Extension is an equal opportunity educator and employer. In accordance with the Americans with Disabilities Act, this publication/material is available in alternative formats upon request. Direct requests to 612-624-2116. -" Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events Table of contents Executive Summary 1 Project Background 2 Economic Contribution 2 Direct Effect 2 Spending 2 Visitors 3 Total Direct Effect 4 Total Economic Contribution 5 Top Industries Affected 5 Influence on Visitor Destination 7 Demographics 9 Sensitivity Analysis 10 Notes on the Analysis 11 Appendix: Method and Terms 12 Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events ii Authored by Brigid Tuck and Rani Bhattacharyya, June 2022 Executive Summary: Economic Contribution of Attendees of East Grand Forks Youth Ice Arena Events As part of its mission, East Grand Forks Parks and Recreation offers a variety of youth programming, including youth hockey and figure skating. To offer this programming, the department operates multiple ice arenas. East Grand Forks Parks and Recreation is considering upgrading its ice arenas and facilities. Before moving forward, leaders were interested in understanding the economic contribution of the youth activities in the community. Thus they partnered with University of Minnesota Extension to conduct this study. In winter 2021-2022, Extension surveyed attendees of youth hockey and figure skating events to gather data on spending in the community. Volunteers gathered surveys from events at the Civic Center, VFW, and Blue Line arenas. The survey received 140 responses. Major findings from the analysis are as follows. Total economic contribution: Ice arena youth event visitors generated $2.1 million of economic activity in Polk County during the winter of 2021-2022. This included $574,410 of income for county residents. The events supported 40 jobs. Businesses that benefited the most directly from the visitors include hotels, restaurants, and bars. Other industries, however, also benefited, including repair and maintenance construction, real estate, and management of companies. Number of visitors: Extension estimated there were 9,379 youth ice event visitors in the 2021-2022 season. This included 3,955 overnight visitors and 5,424 day trippers. Visitor spending: Visitors who stayed overnight during their trip spent, on average, $133.30 per person per day. Major expenses included lodging and dining out. Those visiting for only the day spent, on average, $64.50. Extension found the 9,379 visitors directly spent nearly $1.7 million in the East Grand Forks area. Accommodations: The overwhelming majority of ice event attendees stayed in hotels (91 percent). Of those hotel guests, 70 percent stayed at a property located in Grand Forks. Visitor activities: The survey asked attendees what activities they engaged in during their visit. The most common activities included dining, youth skating, youth sports, and downtown shopping. No survey respondents engaged in cross-country skiing, snowshoeing, snowmobiling, or ice fishing, indicating there maybe some opportunities to cross -market recreation opportunities. Influence on visitor destination: The hockey and figure skating events are definitely drawing people to East Grand Forks. Only 15 percent of respondents would have come to East Grand Forks in absence of the event. Four in ten attendees plan to return within a year, mostly for youth sports. By and large, visitors were satisfied with their trip. Demographics: Most visitors traveled as families with children ages 13 to 17. Household incomes of the visitors are relatively high - with 40 percent at $150,000 or more. Survey respondents came from locations across Minnesota and the Dakotas. -" Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 1 Project Background As part of its mission, East Grand Forks Parks and Recreation offers a variety of youth programming, including youth hockey and figure skating. To offer this programming, the department operates multiple ice arenas. For many parks and recreation departments, hosting tournaments is a critical source of revenue. As such, most departments compete to be tournament hosts. In an effort to remain competitive in attracting tournaments, East Grand Forks Parks and Recreation is considering upgrading its ice arenas and facilities. Before seeking public funding, however, East Grand Forks Parks and Recreation was interested in understanding the economic contribution of youth hockey and figure skating activities in the community. In winter 2021-2022, Extension surveyed attendees of youth hockey and skating events to gather data on spending in the community. Volunteers gathered surveys from events at the Civic Center, VFW, and Blue Line arenas. Extension received 140 responses to the survey. Economic Contribution Economic contribution is comprised of direct, indirect, and induced effects. The direct effect is the initial change or activity in the economy. In this analysis, the direct effect is spending by visitors while attending youth hockey and figure skating events at East Grand Forks' ice arenas. Indirect and induced effects are the impacts on businesses and workers that serve the visitors. Indirect effects relate to the supply chain. For example, when visitors spend the night in a local hotel, the hotel has to purchase goods and services from its suppliers, thus increasing demand on those supply chains. Induced effects relate to labor spending. A hotel worker, for example, receives income for working the weekend of a hockey tournament. The worker then spends the wages on groceries and rent, creating activity on those supply chains. The next section of this report explains Extension's approach to quantifying the direct effect for this analysis. Extension then used the input- output model, IMPLAN, to measure the indirect and induced effects. Direct Effect As mentioned, the direct effect is spending by visitors attending youth events at East Grand Forks' ice arenas. Visitor spending, in turn, is calculated by multiplying per person spending by the number of visitors. Spending To measure visitor spending, East Grand Forks Parks and Recreation partnered with Extension to survey attendees of ice arena events. The survey was conducted in a mixed methods approach, using both an online version of the survey and a paper version for intercept surveying. Initially, survey participation was encouraged through the distribution of postcards that contained a QR code with a link to the online survey. Due to low response rates, the project team chose to conduct intercept surveys during the second half of the study and included an incentive option for both online and paper survey participants to enter into a raffle for a $50 gift certificate at a local restaurant. The survey results showed that visitors who stayed overnight during their trip spent, on average, $133.30 per person per day (Table 1). Major expenses included lodging and dining out. Those visiting for only the day spent, on average, $64.50. Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events The survey results indicated that across all visitors, the average number of nights spent in the region to attend the event was 2.5. Thus, on average, overnight visitors spent $333.40 per person per trip to East Grand Forks. Table 1: East Grand Forks Youth Ice Arena Event Visitors: Spending Profile Category Per Person/Per Day Per Person/Per Trip Overnight Day Only Overnight Day Only Lodging $47.70 $0 $119.30 $0 Restaurants/Bars $29.30 $17.10 $73.20 $17.10 Transportation $18.90 $21.80 $47.30 $21.80 Shopping $18.60 $9.10 $46.60 $9.10 Youth Sports Related $10.10 $11.80 $25.20 $11.80 Groceries $5.90 $2.40 $14.70 $2.40 Recreation $2.40 $0.90 $6.10 $0.90 Miscellaneous $0.40 $1.40 $1.00 $1.40 Total $133.30 $64.50 $333.40 $64.50 Visitors The second step in quantifying the direct effect is to determine the number of visitors attending youth hockey and figure skating events. To do this, Extension started with the number of teams and skaters participating in tournaments and events in the 2021 - 2022 season (Table 2). On average, each hockey team carries 14 players. The survey data shows 3.1 people travelled per player. For example, on the weekend of November 27 and 281 of 2021, nine teams played in East Grand Forks, for a total of 126 players. If each player brought three people (including themselves), that equates to 390 visitors for that weekend. For figure skating events, East Grand Forks Parks and Recreation had registration figures. For the December event, COVID protocols limited attendees to one additional person per skater. Based on this approach, Extension estimates 9,379 youth ice event visitors in the 2021-2022 season. As shown, visitors staying overnight spent more while in East Grand Forks than people coming only for the day. To account for this, East Grand Forks Parks and Recreation categorized the weekend as either mostly hockey teams from within the area and likely to come for the day (local in the table) or as mostly teams from outside the region and likely to spend the night (visiting in the table). All figure skating attendees were assumed to stay overnight. Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events Table 2: East Grand Forks Youth Ice Arena Events: Estimated Number of Visitors Total Direct Effect Total direct effect is the number of visitors times the spending per person per trip. The data shows an estimated 3,955 overnight visitors and 5,424 day trippers. Using those figures and the spending profiles, Extension finds the 9,379 visitors spent nearly $1.7 million in the East Grand Forks area during their hockey or figure skating -related trip (Table 3). Table 3: East Grand Forks Youth Ice Arena Event Visitors: Total Direct Spending Category Total Spending Players Per Total People Per Total Local vs. Hockey: Teams Team Players Player Visitors Visiting Recreation $28,890 Miscellaneous $11,030 Teams November 13-14 7 14 98 3.1 304 Local November 19-21 19 14 266 3.1 825 Visiting November 27-28 9 14 126 3.1 391 Visiting December 3-5 14 14 196 3.1 608 Local December 10-11 4 14 56 3.1 174 Visiting December 12 5 14 70 3.1 217 Local December 17-19 6 14 84 3.1 260 Visiting January 7-9 20 14 280 3.1 868 Local January 14-16 14 14 196 3.1 608 Local January 28-30 22 14 308 3.1 955 Local February 4-6 17 14 238 3.1 738 Local February 11-13 15 14 210 3.1 651 Local February 18-20 9 14 126 3.1 391 Local February 25-27 11 14 154 3.1 477 Local March 3 2 14 28 3.1 87 Local March 5 12 14 168 3.1 521 Local March 18-20 7 14 98 3.1 304 Visiting Hockey Total 8,379 People Per Figure Skating: Skaters Skater December 10-11 185 2 370 Visiting January 14-17 210 3 630 Visiting Figure Skating Total 1,000 Total 9,379 Total Direct Effect Total direct effect is the number of visitors times the spending per person per trip. The data shows an estimated 3,955 overnight visitors and 5,424 day trippers. Using those figures and the spending profiles, Extension finds the 9,379 visitors spent nearly $1.7 million in the East Grand Forks area during their hockey or figure skating -related trip (Table 3). Table 3: East Grand Forks Youth Ice Arena Event Visitors: Total Direct Spending Category Total Spending Lodging $471,810 Restaurants/Bars $382,220 Transportation $305,460 Shopping $233,690 Youth Sports Related $163,670 Groceries $71,320 Recreation $28,890 Miscellaneous $11,030 Total $1,668,090 r Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 4 Total Economic Contribution With indirect and induced effects included, visitors to East Grand Forks for youth hockey and figure skating events in 2021-2022 generated $2.1 million in economic activity (Table 4). This included $574,410 of income for area residents. The events supported 40 jobs. Table 4: East Grand Forks Youth Ice Arena Event Visitors: Total Economic Contribution Category Output Labor Income Employment Direct $1,668,090 $445,400 19 Indirect $274,730 $71,940 11 Induced $203,680 $57,070 10 Total $2,146,500 $574,410 40 Top Industries Affected Youth ice arena visitors generated $2.1 million of economic activity in Polk County during winter 2021 to 2022. Businesses that benefited the most directly from the visitors include hotels, restaurants, and bars, as expected, given visitor spending (Chart 1). Other industries, however, also benefited, including repair and maintenance construction, real estate, and management of companies. Chart 1: East Grand Forks Youth Ice Arena Event Visitors: Top Industries Impacted Accommodations Food Services & Drinking Places Amusement & Recreation Repair & Maintenance - Museums & Similar Miscellaneous Retailers -� Real Estate Gasoline Stations Grocery Stores Hospitals Utilities 04 Broadcasting Management of Companies Banking ■ Direct ■ Indirect ■ Induced Ambulatory Health Care $0 $100,000 $200,000 $300,000 $400,000 $500,000 The spending data is consistent with visitor reports on their activities. The survey asked attendees what activities they engaged in during their visit. The most common activities included dining, youth skating, youth sports, and downtown shopping (Chart 2). The survey also asked about participation in a wide range of outdoor recreation options - including cross -county skiing, snowshoeing, snowmobiling, and ice fishing. No survey respondents engaged in those activities, indicating there may be some opportunity to cross -market recreation opportunities. Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events Chart 2: East Grand Forks Youth Ice Arena Event Visitors: Activities Most Frequently Engaged In During Visit 140 120 0a 100 c 0 80 v 60 L 40 ... — v 20 E 0 .,\A -o o��` By and large, visitors are using hotel accommodations (Chart 3). Only a handful of respondents indicated they stayed with friend or relative or in a vacation rental by owner. Chart 3: East Grand Forks Youth Ice Arena Event Visitors: Type of Accommodation Used .e 50 C Q) 0 40 CL v 30 0 20 E z 10 Hotel Friend or relative Vacation rental by owner Many youth ice arena visitors spent the night in a hotel in Grand Forks versus East Grand Forks (Chart 4). With an estimated 3,955 overnight visitors, there are approximately 2,770 visitors staying in Grand Forks that could potentially be in East Grand Forks, if there were more hotel accommodations available. -_ Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 6 Chart 4: East Grand Forks Youth Ice Arena Event Visitors: Hotel Location itEast Grand Forks 30% Grand Forks 70% Influence on Visitor Destination Survey respondents' primary reason for traveling to East Grand Forks was to attend the youth ice event (Chart 5). Only 15 percent of respondents would have come to East Grand Forks in absence of the event. Chart 5: East Grand Forks Youth Ice Arena Event Visitors: Role of Youth Ice Event in Decision to Visit East Grand Forks Would have visited either way 15% Would not have come without event 85% -_ Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 7 The survey results indicate that youth ice events drive return visits to East Grand Forks. More than 4 of every 10 visitors planned to come back to the community within the year (Chart 6). Chart 6: East Grand Forks Youth Ice Arena Event Visitors: Likelihood of Returning to East Grand Forks Within a Year Very unlikely 17% Unlikely 18% Very likely 18% Unsure 23% Likely 24% Visitors are mostly planning to return to attend more youth sporting events (Chart 7). Chart 7: East Grand Forks Youth Ice Arena Event Visitors: Reason for Return Trip to East Grand Forks 120 " 100 v 80 0 CL E) 60 0 40 E 0 z20 0 Youth sports Other Dining Shopping Sightseeing -_ Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 8 By and large, visitors were satisfied with their trip to East Grand Forks (Chart 8). Ninety-five percent of respondents said the youth hockey event was the activity they enjoyed the most while in the community. Other responses included dining (4 percent of respondents) and shopping (1 percent of respondents). Chart 8: East Grand Forks Youth Ice Areana Event Visitors: Overall Level of Satisfaction with East Grand Forks Trip Satisfied 32% Demographics Very dissatisfied Unsure 4% 7% Very satisfied 57% The survey also gathered some demographic data (Chart 9). Unsurprisingly, when asked which ages were in their travel party, the most frequently reported age categories were ages 13 to 17 (the players) and ages 41 to 50 (likely the parents). Most players traveled in family units (one or two kids under 18 with one or two adults), but a few did travel together as a team. Chart 9: East Grand Forks Youth Ice Arena Event Visitors: Number of Travel Parties Containing Members in Specified Age Categories 70 v 60 C 50 0- V) v 40 0 v 30 D 20 z 10 0 - 0-12 13-17 18-25 26-40 41-59 60 plus -_ Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 9 Survey respondents traveled from across Minnesota and the Dakotas to attend the events. Map 1 shows the home zip codes of survey respondents. These represent a sample of the total visitors, but provides a sense of just how far players and families are traveling. Map 1: East Grand Forks Youth Ice Arena Event Visitors: Home Zip Code of Survey Respondents (White Dot is East Grand Forks) The teams attending youth hockey and skating events have relatively high household incomes. Nearly 40 percent of the people who responded to the income question reported incomes of $150,000 or more (Chart 10). Chart 10: East Grand Forks Youth Ice Arena Event Visitors: Household Income Levels of Survey Respondents 50 45 v 40 35 Q 30 v 25 20 ° 15 � 10 ■ = z 0 Sensitivity Analysis ODO To complete the above analysis, Extension made several assumptions. Sensitivity analysis examines how the results might change if the assumptions change. Extension ran three alternate scenarios to test the sensitivity (Table 5). Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 10 o \ehyra� Sensitivity Analysis ODO To complete the above analysis, Extension made several assumptions. Sensitivity analysis examines how the results might change if the assumptions change. Extension ran three alternate scenarios to test the sensitivity (Table 5). Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 10 In the first scenario, instead of 14 players per team, Extension modeled 12 players per team. The results show the total number of visitors decreases to 8,180 and the economic contribution also declines to $1.9 million. In the second scenario, Extension modeled a lower level of per person spending - at $300 for overnight visitors and $58 for day trippers. In this scenario, the number of visitors remains constant, but the total economic contribution declines to $1.9 million. Finally, in the third scenario, Extension modeled a decrease in the number of people traveling per team. Instead of 3.1 people per player, as used in the main analysis, this scenario examines 2.5 people per player. Once again, attendance declines - down to 7,755 people. Correspondingly, the economic contribution drops to $1.8 million. These results indicate even with fluctuations in number of attendees and visitor spending, the total economic contribution remains in the range of $1.8 million to $1.9 million. Table 5: East Grand Forks Youth Ice Arena Event Visitors: Total Economic Impact, Sensitivity Analysis Category Output Labor Income Employment Attendance Teams of 12 Players $1,922,150 $496,630 34 8,180 Spending at 90% of estimate $1,931,190 $516,970 37 9,379 2.5 people per team $1,853,320 $478,280 32 7,755 Notes on the Analysis This analysis only examines the economic contribution stemming from spending by youth ice arena event attendees. Spending by East Grand Forks to operate the facilities also generates economic contribution - both from purchases of their supplies and from spending by their employees. That impact is not included in this report. Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 11 Appendix: Methods and Terms Special models, called input-output models, exist to conduct economic impact analysis. There are several input-output models available, and IMPLAN (IMpact Analysis for PLANning, MIG, Inc.) is one such model. Many economists use IMPLAN for economic contribution analysis because it can measure output and employment impacts, is available on a county -by -county basis, and is flexible for the user. While IMPLAN has some limitations and qualifications, it is one of the best tools available to economists for input-output modeling. Understanding the IMPLAN tool's capabilities and limitations helps ensure the best results from the model. One of the most critical aspects of understanding economic impact analysis is the distinction between the "local" and "non -local" economy. The model -building process identifies the local economy. Either the group requesting the study or the analyst defines the local area. Typically, the study area (the local economy) is a county or a group of counties that share economic linkages. In this report, the study area is Polk County. A few definitions are essential to properly interpret the results of an IMPLAN analysis. These terms and their definitions are provided below. Output Output is measured in dollars and is equivalent to total sales. It can include significant "double counting." As an example, think of a screen printer creating customized T-shirts for hockey tournament attendees. The value of T-shirt is counted when it is sold to the screen printer and then again when it is sold to the final wearer. The value of the T-shirt is built into the price of each of these items, and then the sale of each item is added to determine total sales (or output). Employment IMPLAN includes total wage and salaried employees, as well as the self-employed, in employment estimates. Because employment is measured in jobs and not in dollar values, it tends to be a very stable metric. In this report, one job is one job, regardless if it is a full-time, part-time, or seasonal job. Labor Income Labor income measures the value added to the product by the labor component. So, in the screen printing example, when the plain T-shirt is sold to the screen printer, a certain percentage of the sale is for the labor to sew the T-shirt. Then when the customized T-shirt is sold to the final consumer, it includes some markup for the screen printer's labor costs in the price. These individual value increments for labor can be measured, which amounts to labor income. Labor income does not include double counting. Labor income includes both employee compensation and proprietor income. It is measured as wages, salaries, and benefits. Direct Impact Direct impact is equivalent to the initial activity in the economy. In this study, it is spending by people attending youth skating events in East Grand Forks. -_ Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 12 Indirect Impact The indirect impact is the summation of changes in the local economy that occur due to spending for inputs (goods and services) by the industry or industries directly impacted. For instance, if employment in a manufacturing plant increases by 100 jobs, this implies a corresponding increase in output by the plant. As the plant increases output, it must also purchase more inputs, such as electricity, steel, and equipment. As the plant increases its purchase of these items, its suppliers must also increase production, and so forth. As these ripples move through the economy, they can be captured and measured. Ripples related to the purchase of goods and services are indirect impacts. In this study, indirect impacts are those associated with spending by East Grand Forks ice arena youth events. Induced Impact The induced impact is the summation of changes in the local economy that occur due to spending by labor—that is, spending by employees in the industry or industries directly impacted. For instance, if employment in a manufacturing plant increases by 100 jobs, the new employees will have more money to spend on housing, groceries, and going out to dinner. As they spend their new income, more activity occurs in the local economy. This can be quantified and is called the induced impact. Primarily, in this study, the induced impacts are economic changes related to spending by workers that serve the visiting East Grand Forks hockey and figure skating families. Total Impact The total impact is the summation of the direct, indirect, and induced impacts. Economic Contribution of Attendees of East Grand Forks Ice Arena Youth Events 13 EDA Agenda: 05/10/2023 3C. Consideration of Authorizing a 2023 Housing Needs and Market Demand Study Update Scope of Work and further authorizing negotiations with consulting firms regarding professional service contract quotes Prepared by: Meeting Date: ® Regular Agenda Item Economic Development Manager 05/10/2023 ❑ Consent Agenda Item Reviewed by: Approved by: Community and Economic Community Development Director Development Coordinator ACTION REQUESTED Motion 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. REFERENCE AND BACKGROUND At a recent City Council workshop, a summary review of in progress (under construction), approved and pending multi -family housing proposals was presented by staff. The ensuing discussion produced a consensus that the timeline for completing a new housing study should be moved forward to 2023 from 2024. The existing housing study was completed in late spring of 2020 by MSA Professional Services, Baraboo, Wisconsin. The study scope and processes were comprehensive. The resulting study included demographic trends, an inventory of housing stock and a summary of recent development performance of various housing sectors. The process also included interviews with developers, residents, and local stakeholders regarding housing needs. It also identified housing access and development barriers and challenges. Finally, the study provided a summary of the projected market demand levels through 2025 in categories of single family, multi -family market rate, multi -family affordable, and assisted living care housing and recommendations. The study's specific market demand findings for various categories through 2025 are shown in exhibit 3. Since completion of the 2020 Housing Study, the tally of market rate multi -family units built, currently under construction or recently receiving land use approval, totals 590 units. This figure far and away exceeds the Study's market rate projected demand number and was attained considerably earlier (12 to 15 months) than 2025. In addition, regional and national housing factors, including the recent spike in mortgage interest rates and inflationary impact on construction cost is influencing other study components, including affordability in all housing EDA Agenda: 05/10/2023 sectors, single-family housing starts and the demand for multi -family units. As such, an updated understanding of impact and demand in the local market is needed. A draft Scope of Work for the proposed Housing Study Update is included as Exhibit 1. If the EDA approves moving forward with a Housing Study Update, staff recommend discussion of the scope with MSA Professional Services as a first step to determine if they can complete the update at a reasonable cost. The preparation of this update is a professional service, allowing the EDA discretion in the selection of a consultant. MSA's original document was well executed, highly useful and the use of MSA is viewed as most efficient given they have much of the pertinent information and data platform for delivery. If it becomes clear that this is a workable path forward, a professional services contract will be presented to the EDA at a future meeting. If staff discovers that it is best to expand discussions with additional consulting firms, more information and proposal materials can be presented to the EDA for review and consideration along with proposed next steps at a future meeting. Budget Impact: The cost to complete the 2020 Housing Study was $17,000. That Study was very comprehensive. The proposed Housing Study Update as outlined in the attached scope of work may cost about the same or possibly slightly less than the full 2020 Study. The EDA has sufficient funding in its General Fund budget to accommodate the cost of an Update Study in 2023. II. Staff Workload Impact: The staff workload related to the proposed Housing Study Update to date is modest. The discussion to date includes the City Administrator, the Community Development Director, the Community Economic Development Coordinator, and the Economic Development Manager. No additional staff are needed to complete the tasks related to this effort. III. 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 City has adopted a strategy for housing which includes developing a range of housing choices and opportunities. As residents move through their career paths and family status, their housing needs change. As an actively developing community, Monticello seeks to provide opportunities for a full range of "life cycle" housing options allowing them to stay and grow with our community. The 2020 Housing Study is already three years old. Some of the projected demand figures have been exceeded well ahead of the presumed timeline. This situation presents as a void of reliable information for decision making for the EDA. The proposed Housing Study Update will help answer questions about current demand levels in various housing sectors and in the context of current financial markets with the goal of informing policy, program, and development objectives. EDA Agenda: 05/10/2023 STAFF RECOMMENDATION City staff supports pursuing completion of a Housing Study Update in 2023 due to the relatively fast (estimated 36 months) fulfilment of the market demand for multi -family units, both affordable and market rate. In early 2023, multi -family developers have continued to reach out to City staff inquiring about projected multi -family needs and/or potential available sites and concepts. A new Housing Study Update would reflect the most recent developments (the past 3 years) and analyze the market needs and demand going forward for the next several years and provide more reliable guidance to developers, the City Council and the EDA. SUPPORTING DATA A. Proposed 2023 Housing Study Update Scope of Work B. Table of Contents 2020 Housing Study C. Demand Estimates from Housing Study — Owner, Rental Multi -Family and Senior D. List of Approved or Pending Housing Developments Housing Study Update Scope of Work Outline May 04, 2023 1. PRIOR STUDY UPDATE: • Update projections for each housing type including rental and ownership comparison, including low and high demand and affordability ranges similar to prior study • Update specific affordability needs and demand for senior units similar to prior study • Evaluate break out of continuum of care unit style for seniors — assisted, independent units 2. ENHANCEMENTS/ADDITIONAL INFO: For multi -family: o Evaluate impact and demand in market given pending projects/units, using different phasing scenarios 3. OPTIONAL SERVICES/SCOPE: • For owner -occupied housing: o Include an evaluation of local and regional townhome trends including development and construction, and rental vs. owner occupied ratios. o Regional and local trend information on interest rate and construction costs on single-family owner -occupied construction. • Evaluation of city -related fees as a percentage of average new construction single-family home in Monticello and comparison to similar surrounding communities. 4. PROPOSED TIMELINE: The desired timeline for completing the Study Update is 90 days from authorization of a Professional Services Contract, signed by all parties. A final Study Update summary (executive summary) presentation to the EDA (and possibly the City Council) by the consultant is desired as the final capstone task. CONTENT (11 INTRODUCTION Community Basi; >: Populatio►l Households » Age Income Projecfions Shi-k-Jy I -:t. » Afforde, Workforce F' 25 RENTAL MARKET » Affordability » Tenure » Rental Housing Stress » Consumption » Unit Types » Affordability Trends » Cost » Vacancy » Size » Age 47 OWNERSHIP MARKET Affordability » Tenure Owner Housing Stress Consumption Spatial Affordability Affordability Trends Entry -Level Affordability » Availability Mortgage Status » Unit Types Size 71 OTHER MARKET SECTORS » Homelessness » Aging Populations » Disability (� LOCAL I M PACTS ( �J » Assessment Improvement Value Ratio Available Lots/Lot Value » Zonina » Development Fees 95 UNIT DEMAND & RECOMMENDATIONS » Ownership Demand Ownership Recommendations » Rental Demand Rental Recommendations Senior Household Demand OWNER DEMAND - LOW ESTIMATE Growth projections for the City of Monticello indicate that current household growth rates will continue - and may have the potential to increase. More commuters are looking to call Monticello home. More area residents would like more options in the housing market. This demand analysis identifies a need to increase the number of ownership units in the City - creating more opportunity for ownership that can serve residents and newcomers alike. There are two pages of demand analysis per housing tenure type (ownership and rental) - this is done to illustrate the range of potential growth that the City may undergo. In general, low estimates are based on 1.7% household growth, and high estimates are based upon 2.4% household growth. Some assumptions in each are the same - such as the need to bring vacancy back to healthy levels, and decrease the rapid speed of cost increases on housing. Other estimates differ based on current best projections. The low estimate should be used as a baseline - a minimum threshold for unit construction, not just plats. New Ownership Housing.- - Demand from Household Growth Within the City Household Growth in Owner Demographics 294 additional households Demographic Ownership Rate 63/o Demand for New Construction 185 ownership units Demand from Existing Resident Households Current Owner Households looking to Step -Up 2,183 households Current Owners Actively Looking for New Housing 12.6% Increased Demand from Existing Residents 275 ownership units Desire for New Construction 560 Existing Resident Demand for New Construction 154 ownership units Total Demand for New Construction Ownership Units = 339 units Preference for SF -Detached 70% Preference for SF -Attached 30% # 237 # 102 Existing Platted SF -D Lots 84 Existing Platted SF -A Lots 69 SF -Detached Supply Gap 153 units SF -Attached Supply Gap 33 units Additional Need for Vacancy 43 units Additional Need for Vacancy 18 units Total SF -Detached Need 196 units Total SF -Attached Need 51 units Total Unit Deed for New Developed Lots (not platted) = 247 units City of Monticello Housing Needs and Demand 97 OWNER DEMAND - HIGH ESTIMATE This high estimate should be used as a goal - a measure of units that could be constructed in the market to provide additional housing choice - in location, type, and price point for buyers at any given point in time. Community feedback through this process indicated the desire that there be multiple areas under different stages of development at the same time, so that buyers who want to move to the City have areas to choose in where to call home. This estimate would likely require multiple active subdivisions in order to have the demand met and fully constructed by 2025. Development interest and demand drive the housing market. Due to lending requirements and market analyses needed for large-scale developer investment, if there is developer interest, there is also likely demand. New Ownership Housing Demand from Household Growth Within the City D- - Household Growth in Owner Demographics 626 additional households Demographic Ownership Rate 630 Demand for New Construction 394 ownership units Demand from Existing Resident Households Current Owner Households looking to Step -Up 2,183 households Current Owners Actively Looking for New Housing 12.60 Increased Demand from Existing Residents 275 ownership units Desire for New Construction 56% Existing Resident Demand for New Construction 154 ownership units Total Demand for New Construction Ownership Units = 548 units Preference for SF -Detached 70% Preference for SF -Attached 30% # 384 # 164 Existing Platted SF -D Lots 84 Existing Platted SF -A Lots 69 SF -Detached Supply Gap 300 units SF -Attached Supply Gap 95 units Additional Need for Vacancy 46 units Additional Need for Vacancy 19 units Total SF -Detached Need 346 units Total SF -Attached Need 114 units Total Unit Need for New Developed Lots (not platted) = 464 units Unit Demand & Recommendations 100 RENTAL DEMAND - LOW ESTIMATE Within the rental market, projections are based on projected household growth, current rates of household tenure for demographics likely to be seeking rental housing, and then focused based on rates of affordability to current residents who rent within the housing market. This demand analysis indicates a slow shift from ownership to renter markets, consistent with changes in rates of tenure over the past decade. Gradual and thoughtful demand -driven outcomes will likely see more a higher percentage of rental units created in an average year than the current overall percentage of renters in the community. The low estimate for rental housing in the next 5 years assumes fewer new units than have been created in the past 5 -year period, and should be treated as a baseline for unit development, not a target that should preclude development when the baseline has been met. New - .- - Demand from Household Growth Within the City Household Growth in Rental Demographics 329 additional households Demographic Renter Rate 370 Demand from New Construction 122 rental units Demand from Existing Resident Households Current Renters in Market 1,162 households Percent of Renters Seeking New Housing 280 Increased Demand from Existing Renters 325 rental units Renters with Preference for New Construction 20% Existing Renter Demand for New Construction 65 rental units Total Demand for New Construction Rental Units = 187 units Affordable Units 50% Mid -Level Units 40% High Market Units 10% New Affordable Demand 93 units New Mid -Level Demand 75 units New High Market Demand 19 units Additional Need for Vacancy 52 units Additional Need for Vacancy 32 units Additional Need for Vacancy 19 units Total Affordable Need 145 units Total Mid -Level Need 107 units Total High Market Need 38 units Total Unit Need = 290 units City of Monticello Housing Needs and Demand RENTAL DEMAND - HIGH ESTIMATE 101 High estimates for rental demand assume continued, strong demand within the market - and matches approximately the same number of units that have been created over the past 5 -year period. This suggests continued demand for development types that have been coming forward in the City, and planning for the trend to continue will allow the City to identify sites and areas through downtown and key corridors. The City can balance market demand for more rental housing with small town character through smart siting and design regulations. This estimate of demand may come to be met if growth pressures increase further than current projections indicate, and developments should be considered based on their own merits and demonstrated need on an annual basis. New - D- Demand from Household Growth Within the City - Household Growth in Rental Demographics 510 additional households Demographic Renter Rate 37% Demand from New Construction 189 rental units Demand from Existing Resident Households Current Renters in Market 1,162 households Percent of Renters Seeking New Housing 28% Increased Demand from Existing Renters 325 rental units Renters with Preference for New Construction 200 Existing Renter Demand for New Construction 65 rental units Total Demand for New Construction Rental Units = 254 units Affordable Units 50% Mid -Level Units 40% High Market Units 10% New Affordable Demand 127 units New Mid -Level Demand 102 units New High Market Demand 25 units Additional Need for Vacancy 54 units Additional Need for Vacancy 34 units Additional Need for Vacancy 20 units Total Affordable Need 181 units Total Mid -Level Need 136 units Total High Market Need 45 units Total Unit Need = 362 units Unit Demand & Recommendations 107 SENIOR UNIT TYPE DEMAND Active Adult Housing Demand for market rate, active living senior housing comes from those household that prefer this type of unit and can afford it, either because they have sufficient current income or because they have sufficient savings, most often in the form of home sale equity. All households in this demand category, both current and projected, have at least one household member above the age of 55. Many active adult housing communities are age -restricted and become available once a household member reaches the limit (typically 55), while other are not restricted - solely marketing themselves as active adult communities to ensure inclusivity. It is important to note that indicated demand for this market type does not include units that already exist within the market, and should be adjusted accordingly. Market Rate Active Adult Demand 2025 2020 2025 Number of Households with Qualifying Incomes 437 641 Potentially Qualifying Households with Home Sale Equity 110 112 Base Demand 547 753 Unit Type Preference 6.5% 6.5% Existing City Resident Demand 36 49 New City Resident Demand 24 34 Total unit demand 60 units 83 units Subsidized Independent Living Subsidized independent living refers to income -restricted independent living developments. This offers opportunity for income -limited and fixed-income households to have access to those services they require as they continue to age. Demand is calculated by measure of fixed- and income -restricted households without the potential for home sale equity. This is then adjusted to the average percentage of households who prefer or need to live in this style housing in 55+ age categories. It is important to note that indicated demand for this market type does not include units that already exist within the market, and should be adjusted accordingly. Subsidized Independent Living Demand 2020 2025 Number of Households with Qualifying Incomes 493 548 Base Demand 493 548 Unit Type Preference 12.5% 12.5% Existing City Resident Demand 62 69 New City Resident Demand 30 34 Total unit demand 92 units 1 103 units Unit Demand & Recommendations 1o8 SENIOR UNIT TYPE DEMAND Market Rate Independent Living Market Rate independent living refers to non -income restricted independent living developments. This offers opportunity for higher -income senior households and those with potential home sale equity to have access to required services as they continue to age. It is important to note that indicated demand for this market type does not include units that already exist within the market, and should be adjusted accordingly. Market Rate Independent Living Demand 2020 2025 Number of Households with Qualifying Incomes 219 246 Potentially Qualifying Households with Home Sale Equity 74 84 Base Demand 293 330 Unit Type Preference 100 10% Existing City Resident Demand 29 33 New City Resident Demand 18 22 Total unit demand 47 units 55 units Market Rate Assisted Living Market Rate assisted living refers to assisted living development for households with a higher - income or access to potential home sale equity. Demand is calculated by measure of income - qualified households, as well as potentially qualifying household with access to home sale equity. This is then adjusted based on the local number of single -person senior households in Monticello, and filtered by the estimated percent of households who can continue in-home care as opposed to assisted living. It is important to note that indicated demand for this market type does not include units that already exist within the market, and should be adjusted accordingly. MarketRate - . Living Demand 2020 2025 Persons in Need with Potential Home Sale Equity 368 480 Percent of Households with Qualifying Incomes 41% 41 Number of Income Qualified Households 221 221 Base Demand 370 416 Demand from Current Single Person Households 167 187 Demand from Current Two Person Households 204 229 Unit Type Preference/Need 40% 40% Existing City Resident Demand 148 166 New City Resident Demand 60 76 Total unit demand 1 208 units 1 242 units City of Monticello Housing Needs and Demand Monticello Residential Developments Since Final Housing Study Completed Residential Proiects Completion Date Project Name Housing Type Deephaven Apartments 1st, 2nd, 3rd Building Multi -Family Apts Haven Ridge 1st Addition Single -Family Homes Carlisle Village 6th Addition Single -Family Townhomes Residential Proiects in Progress Project Name StonyBrook Village Featherstone 5th Addition Edmonson Ridge Featherstone 6th Addition Block 52 First Addition Headwaters Twinhome Senior Living (55+) Housing Type Single -Family Twinhomes Single -Family Homes Single -Family Homes Single -Family Homes Multi -Family Apts Single -Family Twinhomes (40% Affordable) Approved Projects Yet to Break Ground Project Name Housing Type Monticello Lakes Multi -Family Apts Twin Pines Multi -Family Apts Headwaters West Senior Apartments (55+) Multi -Family Apts (40% Affordable) Haven Ridge 2nd Addition Single Family Homes Total Multi -Family Unit Count From Above Total Single -Family Unit Count From Above 548 (Not Including Senior Exclusive) 288 (Not Including Senior Exclusive) Senior Multi -Family Unit Count From Above Senior Multi -Family Unit Count From Above 102 (41 Affordable) 60 (24 Affordable) Unit Count Completion Date 165 Units May -22 27 Units Oct -21 73 Units May -22 Unit Count Construction Start Est. Completion Date 28 Units Apr -22 Summer 2024? 26 Units 22 -Jul TBD 54 Units Jun -22 TBD 21 Units Aug -22 TBD 87 Units Fall 2022 Spring 2024 60 Units (24 Aff) Fall 2022 Spring 2024 Unit Count Est. Construction Start Est. Completion Date 200 Units Summer 2023 Summer 2024 96 Units Summer 2023 Summer 2024 102 Units (41 Aff) Spring 2023 Summer 2024 59 Units TBD TBD EDA Agenda: 05/10/2023 3D. Consideration of Adopting Resolution No. 2023-05 Amending the 2022 Pooled TIF Allocation Plan, increasing the Affordable Housing pooled TIF allocation into TIF District 1-42 and 1-43 bV $80,000, to $880,000 Prepared by: Meeting Date: ® Regular Agenda Item Economic Development Manager 05/10/2023 ❑ Consent Agenda Item Reviewed by: Approved by: Community Economic Development Community Development Director Coordinator ACTION REQUESTED Motion 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. :�� � � :�J ► [�lJ_1► Ll:T_T�l :(�l 3�1�1 � L�7 Staff is asking the EDA to consider amending the 2022 Pooled TIF Allocation Plan, increasing the amount of pooled Affordable Housing TIF dollars being transferred into Affordable Housing TIF Districts 1-42 and 1-43 by $80,000, thereby raising the total pooling into the new Affordable Housing Districts to $880,000 as per the Amended and Restated Purchase and Development Contracts authorized by the EDA at the regular July 27, 2022, meeting. The proposed amendment is related to the EDA's agreement to help cover the contaminated soil study and remediation costs incurred by Headwaters Development as outlined in the approved Purchase and Development Contract for TIF 1-42 and 1-43. The most appropriate source of funding to cover these costs is through the available extra increment in the older TIF Districts that remains available to be pooled into the new TIF Districts. This is also consistent with the overall funding program outlined for the Headwaters project, in which the EDA utilized pooled affordable housing dollars for the land transaction. The 2022 Pooled TIF Allocation Plan was approved by the EDA at the regular May 25, 2022, meeting. The term "pooling" refers to the use of tax increments for qualified activities located outside of the boundaries of the district from which they were collected. Staff felt that it was critical to articulate in a policy plan the intended use of the available pooled increment that had accumulated in several TIF Districts overtime. The adoption of the 2022 Pooled TIF Allocation Plan fulfilled that objective by identifying the available pooled increment from each existing TIF District and outlining the specific policies for use of the pooled increment for other future EDA Agenda: 05/10/2023 projects. The 2022 Pooled TIF Plan utilized projected pooling information to assign the specific project areas and allocation amounts. The EDA utilized the 2022 Pooled TIF Allocation Plan to evaluate and approve the use of pooled increment from its Affordable Housing TIF Districts to TIF Districts (1-42 and 1-43). As the EDA considers this item, the pooled TIF projections indicate that there is sufficient funding to make this designation within the 2022 Pooled TIF Allocation Plan. The proposed amendment to the Pooled TIF Allocation Plan will reconcile the allocation total in the Affordable Housing item (No. 2) with the funding assistance commitments that EDA agreed to related to the Headwaters Development affordable housing projects. This is also consistent with the overall funding program outlined for the Headwaters project, in which the EDA utilized pooled affordable housing dollars for the land transaction. Budget Impact: Authorizing the 2022 TIF Plan Amendment does not affect the EDA General Fund budget. The pooled tax increment transfers occur between the specific TIF District Funds set up through the establishment of the TIF Districts. The EDA attorney fees related to background discussion and preparing the EDA resolution are projected to be between $300 to $500. The EDA General Fund budget line for legal services has sufficient funding remaining to cover this expenditure. There are sufficient pooled funds available for this allocation. II. Staff Workload Impact: Staff involved in the tasks related to the proposed 2022 Pooled TIF Allocation Plan amendment include the EDA attorney, Tammy Omdal from Northland Securities and the Community Development Director and the Economic Development Manager. No additional staff are needed for this effort. STAFF RECOMMENDATION City staff recommends approval of the proposed amendment to the 2022 Pooled TIF Allocation Plan. The amendment approval step is somewhat of a housekeeping task which will reconcile the sourcing of funds for the EDA assistance commitments (outlined in the approved Development Contract), for certain eligible costs in TIF Districts 1-42 and 1-43. SUPPORTING DATA A. Resolution No. 2023-05 B. Amended 2022 Pooled TIF Allocation Plan C. 2022 Pooled TIF Allocation Plan D. TIF Development Contracts - TIF 1-42 and 1-43, Section 3.11 Authority Grant CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2023-05 RESOLUTION AMENDING THE 2022 POOLED TIF ALLOCATION PLAN 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. The Authority and the City of Monticello, Minnesota (the "City") have previously established Tax Increment Financing District Nos. 1-6, 1-19, 1-22, 1-24, 1-29 and 1-30 (the "Pooled TIF Districts"), as well as Tax Increment Financing (Housing) District No. 1-42 (Headwaters Apartment Project) ("TIF 42") and Tax Increment Financing (Housing) District No. 1-43 (Headwaters Villas Project) ("TIF 43") and adopted tax increment financing plans therefore. 1.02. On May 25, 2022, the Board approved the 2022 Pooled TIF Allocation Plan (the "Allocation Plan"), which among other things, allocated certain pooled tax increment ("Pooled Increment") in the amount of $800,000 from the Pooled TIF Districts to TIF 42 and TIF 43 to pay eligible developer and public costs. 1.03. The Authority proposes to amend the Allocation Plan (the "Amendment") to increase the amount of Pooled Increment to be allocated from the Pooled TIF Districts to TIF 42 and TIF 43 by $80,000 to pay certain eligible developer and public costs, including environmental investigation and remediation costs as outlined in the purchase and development contracts related to TIF 42 and TIF 43. Section 2. Amendment Approved. The Board hereby approves the Amendment and authorizes and directs Authority staff to implement the Amendment and take all actions necessary in connections therewith. Section 3. Effective Date. This resolution shall be effective upon approval. Approved by the Board of Commissioners of the City of Monticello Economic Development Authority on May 10, 2023. President ATTEST: Executive Director MN190\101\873549.v1 2022 Pooled TIF Allocation Plan 05-10-23 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 Pooled Increment dollars from the above identified Redevelopment TIF Districts into the pending Block 52 Redevelopment TIF District 1-45 in the amount of $343,000 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 $880,000 +/-. 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 Adopted May 25, 2022; Amended ######### ##, #### 2022 Pooled TIF Allocation Plan OS -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 Pooled Increment dollars from the above identified Redevelopment TIF Districts into the pending Block 52 Redevelopment TIF District 1-45 in the amount of $343,000 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 Adopted May 25, 2022 2022 Pooled TIF Allocation Plan OS -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 Pooled Increment dollars from the above identified Redevelopment TIF Districts into the pending Block 52 Redevelopment TIF District 1-45 in the amount of $343,000 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 Purchase and Development Contract for TIF District 1-42 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. (iii) Developer having received from the Authority a certificate of occupancy for the Minimum Improvements. (b) Terms of TIF Note. The terms of the TIF Note will be substantially in the form shown in Schedule F 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. (d) Assignment of TIF Note. The Authority acknowledges that the Developer 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 Developer 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. Developer 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 Developer may rely. If the Public Development Costs exceed the maximum aggregate principal amount of the TIF Note, such excess is the sole responsibility of Developer. 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 Project. Section 3.11. Authority Grant.. In addition to the reimbursement of a portion of Developer's Public Development Costs through issuance of the TIF Note, the Authority will reimburse a portion of the Developer's costs incurred to undertake additional environmental investigation relating to the 16 085609\006\6292243.vI Development Property by preparing a supplemental Phase H Investigation Report, (the "Phase H Report") for the Development Property and the Apartments Property (the "Headwaters Property") and creating and obtaining of the RAP and CCP (the "Study Costs") to the extent required by and in accordance with all applicable local, state and federal environmental laws and regulations, the RAP and CCP, or other applicable action plan from another appropriate regulatory authority (collectively, the "Remediation Plan") with a grant to Developer (the "Authority Grant"). Developer agrees that the portion of the Study Costs that Developer incurs in preparing the supplemental Phase 11 Report and in creating and obtaining regulatory approvals for the Remediation Plan will be capped at $80,000 for the Headwaters Property. The assistance shall be provided pursuant to and in conformity with the Authority's Policy Statements for Management of Available Tax Increment Financing Funds, adopted by the 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 an amount not to exceed $80,000 applicable to the Headwaters Property, provided that the grant amount for the Development Property shall be calculated on a pro -rata basis based on the square footage of the Development Property as compared to the square footage of the Headwaters Property. The Authority Grant and shall be disbursed to the Developer in one or more installments upon the Developer having delivered to the Authority evidence of Study Costs paid or incurred, as well as one or more certificates signed by the Developer's duly authorized representative, containing the following: (A) a statement that each cost identified in the certificate is a Study Cost as defined in this Agreement and that no part of such cost has been included in any previous certification; and (B) reasonable evidence that each identified Study Cost has been paid or incurred by or on behalf of the Developer; and (C) a statement that, to the Developer's knowledge, no uncured Event of Default by the Developer 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. In the event that the total Study Costs for the Headwaters Property exceed $80,000, the EDA may increase the amount of assistance for such costs in its sole and absolute discretion subject to approval by the Board of Commissioners or the Developer may terminate this Agreement prior to acquiring the Development Property from the EDA. Following the Closing Date and the acquisition of the Development Property by the Developer, the Developer may utilize any remaining undisbursed proceeds of the Authority Grant allocable to the Development Property (provided that such Authority Grant shall not exceed $80,000 for the entire Headwaters Property) to remove or remediate any petroleum products or other pollutants, contaminant, or other Hazardous Material on the Developer Property in accordance with the Remediation Plan or to otherwise comply with and complete all actions required under the Remediation Plan and to obtain a certificate of completion from the MPCA and any other completion or closure letter from any other appropriate regulatory authority that the remediation on the Headwaters Property has been completed to the satisfaction of the MPCA or other authority and in accordance with the Remediation Plan (the "Remediation Costs"), and any no further action, no association, or other liability assurance available from the MPCA or other regulatory authority upon Developer having delivered to the Authority evidence of Remediation Costs paid or incurred, as well as one or more certificates signed by the Developer's duly authorized representative, containing the following: (A) a statement that each cost identified in the certificate is a Remediation Cost as defined in this Agreement and that no part of such cost has been included'in any previous certification; and (B) reasonable evidence that each identified Remediation Cost has been paid or incurred by or on behalf of the Developer; and (C) a statement that, 17 085609\006\6292243.vI to the Developer's knowledge, no uncured Event of Default by the Developer 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. Except for the portion of the Authority Grant allocable to the Development Property and the TIF Note, the Authority shall not have any obligation to reimburse the Developer for Remediation Costs relating to the Development Property. Section 3.12. No Business Subsidy The parties agree and understand that the primary purpose of any financial assistance to the Developer under this Agreement is to facilitate development of housing and is therefore not a "business subsidy" within the meaning of Minnesota Statutes, Sections I I6J.993 to I I6J.995 (the "Business Subsidy Act"). The Developer releases and waives any claim against the Authority and its governing body members, officers, agents, and employees thereof arising from application of the Business Subsidy Act to this Agreement, including without limitation any claim that the Authority failed to comply with the Business Subsidy Act with respect to this Agreement. Section 3.13. Payment of Administrative Costs. The Authority acknowledges. that Developer has deposited with the Authority $10,000. The Authority will use such deposit to pay "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 Development Property. At Developer's request, but no more often than monthly, the Authority will provide Developer with a written report including invoices, time sheets or other comparable evidence of expenditures for Administrative Costs and the outstanding balance of funds deposited. If at any time the Authority determines that the deposit is insufficient to pay Administrative Costs, the Developer is obligated to pay such shortfall 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 Developer; provided that Developer remains obligated to pay subsequent Administrative Costs related to any amendments to this Agreement requested by Developer. Upon termination of this Agreement in accordance with its terms, the Developer remains obligated under this section for Administrative Costs. 18 085609\006\6292243.v 1 Purchase and Development Contract for TIF District 1-43 knowledge, no uncured Event of Default by the Developer 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. (iii) Developer having received from the Authority a certificate of occupancy for the Minimum Improvements. (b) Terms of TIF Note. The terms of the TIF Note will be substantially in the form shown in Schedule F 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. (d) Assignment of TIFNote. The Authority acknowledges that the Developer 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 Developer 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. Developer 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 Developer may rely. If the Public Development Costs exceed the maximum aggregate principal amount of the TIF Note, such excess is the sole responsibility of Developer. 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 Project. Section 3.11. Authority Grant. In addition to the reimbursement of a portion of Developer's 16 MN190\170\778717.v] I Public Development Costs through issuance of the TIF Note, the Authority will reimburse a portion of the Developer's costs incurred to undertake additional environmental investigation relating to the Development Property by preparing a supplemental Phase II Investigation Report, (the "Phase II Report") for the Development Property and the Villas Property (the "Headwaters Property") and creating and obtaining of the RAP and CCP (the "Study Costs") to the extent required by and in accordance with all applicable local, state and federal environmental laws and regulations, the RAP and CCP, or other applicable action plan from another appropriate regulatory authority (collectively, the "Remediation Plan") with a grant to Developer (the "Authority Grant"). Developer agrees that the portion of the Study Costs that Developer incurs in preparing the supplemental Phase II Report and in creating and obtaining regulatory approvals for the Remediation Plan will be capped at $80,000 for the Headwaters Property. The assistance shall be provided pursuant to and in conformity with the Authority's Policy Statements for Management of Available Tax Increment Financing Funds, adopted by the 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 an amount not to exceed $80,000 applicable to the Headwaters Property, provided that the grant amount for the Development Property shall be calculated on a pro -rata basis based on the square footage of the Development Property as compared to the square footage of the Headwaters Property. The Authority Grant and shall be disbursed to the Developer in one or more installments upon the Developer having delivered to the Authority evidence of Study Costs paid or incurred, as well as one or more certificates signed by the Developer's duly authorized representative, containing the following: (A) a statement that each cost identified in the certificate is a Study Cost as defined in this Agreement and that no part of such cost has been included in any previous certification; and (B) reasonable evidence that each identified Study Cost has been paid or incurred by or on behalf of the Developer; and (C) a statement that, to the Developer's knowledge, no uncured Event of Default by the Developer 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. In the event that the total Study Costs for the Headwaters Property exceed $80,000, the EDA may increase the amount of assistance for such costs in its sole and absolute discretion subject to approval by the Board of Commissioners or the Developer may terminate this Agreement prior to acquiring the Development Property from the EDA. Following the Closing Date and the acquisition of the Development Property by the Developer, the Developer may utilize any remaining undisbursed proceeds of the Authority Grant allocable to the Development Property (provided that such Authority Grant shall not exceed $80,000 for the entire Headwaters Property) to remove or remediate any petroleum products or other pollutants, contaminant, or other Hazardous Material on the Developer Property in accordance with the Remediation Plan or to otherwise comply with and complete all actions required under the Remediation Plan and to obtain a certificate of completion from the MPCA and any other completion or closure letter from any other appropriate regulatory authority that the remediation on the Headwaters Property has been completed to the satisfaction of the MPCA or other authority and in accordance with the Remediation Plan (the "Remediation Costs"), and any no further action, no association, or other liability assurance available from the MPCA or other regulatory authority upon Developer having delivered to the Authority evidence of Remediation Costs paid or incurred, as well as one or more certificates signed by the Developer's duly authorized representative, containing the following: (A) a statement that each cost identified in the certificate is a Remediation Cost as defined in this Agreement and that no part of such 17 MN 190\ 170\778717.v 1 l cost has been included in any previous certification; and (B) reasonable evidence that each identified Remediation Cost has been paid or incurred by or on behalf of the Developer; and (C) a statement that, to the Developer's knowledge, no uncured Event of Default by the Developer 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. Except for the portion of the Authority Grant allocable to the Development Property and the TIF Note, the Authority shall not have any obligation to reimburse the Developer for Remediation Costs relating to the Development Property. Section 3.12. No Business Subsidy. The parties agree and understand that the primary purpose of any financial assistance to the Developer under this Agreement is to facilitate development of housing and is therefore not a "business subsidy" within the meaning of Minnesota Statutes, Sections 116J.993 to 1161995 (the "Business Subsidy Act"). The Developer releases and waives any claim against the Authority and its governing body members, officers, agents, and employees thereof arising from application of the Business Subsidy Act to this Agreement, including without limitation any claim that the Authority failed to comply with the Business Subsidy Act with respect to this Agreement. Section 3.13. Payment of Administrative Costs. The Authority acknowledges that Developer has deposited with the Authority $10,000. The Authority will use such deposit to pay "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 Development Property. At Developer's request, but no more often than monthly, the Authority will provide Developer with a written report including invoices, time sheets or other comparable evidence of expenditures for Administrative Costs and the outstanding balance of funds deposited. If at any time the Authority determines that the deposit is insufficient to pay Administrative Costs, the Developer is obligated to pay such shortfall 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 Developer; provided that Developer remains obligated to pay subsequent Administrative Costs related to any amendments to this Agreement requested by Developer. Upon termination of this Agreement in accordance with its terms, the Developer remains obligated under this section for Administrative Costs. FV MN 190\170\778717.v11 Economic Development Authority Agenda: 5/10/2023 4A. Economic Development Manager's Report Prepared by: Meeting Date: ❑x Regular Agenda Item Economic Development Manager 5/10/2023 Reviewed by: Approved by: N/A Economic Development Manager REFERENCE AND BACKGROUND 1. Building Permit Update Spreadsheet: Qtr. 12023 - See attached exhibit 1. 2. Prospect List Update: See attached exhibit 2. BUILDING PERMIT ACTIVITY AND VALUATION PERMITTYPE 2022 -1st Qtr. Valuation YTD Valuation 2023 - 1st Qtr. Valuation YTD Valuation Single Family Multi-Family Comercial-Industrial New - Remodel - Addition 13 0 4 $3,362,651.00 $0.00 $1,383,790.00 $3,362,651.00 $0.00 $1,383,790.00 $3,362,651.00 $0.00 $1,383,790.00 2 0 5 $550,000.00 $0.00 $765,000.00 $550,000.00 $0.00 $765,000.00 $550,000.00 $0.00 $765,000.00 PROSPECT LIST 04/28/2023 Date of Contact Company Name Business Category Project Description Building -Facility Retained Jobs New Jobs Total Investment Project Status 5/22/2018 Karlsburger Foods Food Products Mfg. Facilty Expansion 20,000 sq. ft. +/- 42 10 to 20 $4,500,000 On Hold 11/29/2018 Project Blitzen Precision Machining Exist Bldg or New Const. 12,000 sq. ft. 10 $1,200,000 Concept Stage 3/28/2019 Project Nutt Co -Working Space Existing Building ? ? ? ? Concept Stage 5/9/2019 Project FSJP Light Mfg -Res. Lab New Construction 20,000 sq. ft. 0 20+/- $1,400,000 Active Search 8/16/2019 Project Jaguar Office New Construction 22,000 sq. ft. 22 4 $2,700,000 Active Search 1/20/2020 Project Panda v3 Service -Child Care New Construction 10,500 sq. ft. 0 21 $4,100,000 Active Search 12/23/20 - 6-30-22 Project TDBBST Industrial New Construction 10,000 to 15,000 sq. ft. 0 9 $1,850,000 Concept Stage 2/16/2021 Project Cold Industrial-Warehouse-Distri New Construction 80,000 sq. ft. 0 21 $12,000,000 Concept Stage 3/19/2021 Project Orion Warehouse -Distribution New Construction 832,500 sq. ft. 0 500 $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 Project Ecosphere Industrial Tech Mfg. New Construction 1,000,000 sq. ft. 0 1122 $85,000,000 Act Search 7/29/2021 Project BA710 Lt Assem-Distribute New Construction 6,500 to 7,000 sq. ft 0 10 $650,000 Active Search 10/28/2021 Project Stallion Techno ogy Service New Construction 42,000 sq. ft. 40 $3,600,000 Active Search 2/7/2022 Project Shepherd III Lt Assembly Distribution New Construction 75,000 sq. ft. 75 $10,500,000 Active Search Date of Contact Company Name Business Category Project Description Building -Facility Retained Jobs New Jobs Total Investment Project Status 4/28/2022 Project Cougar Precision Machining -Mfg. New Construction 35,000 to 45,000 sq. ft. 38 $4,700,000 Active Search 8/11/2022 Project Sing Precision Machining New Construction 400,000 sq. ft. 0 500 $90,000,000 Active Search 10/28/2022 Project IAG Mfg. New Construction 300,000 sq. ft.? 0 50? $70 to $80,000,000 Active Search 11/9/2022 Project Tea Mfg New Construction 25,000 sq. ft. 55 20 $5,800,000 Active Search 12/13/2022 Project Love Mfg New Construction 250,000 130 $24,000,000 Active Search 4/20/2023 Project Lodge DH1 Lodging -Service New Construction ? ? ? $9,500,000 to $12,500,000 Active Search 4/20/2023 Project Lodge RS2 Lodging Service New Construction ? ? ? $9,500,000 to $12,500,000 Active Search 4/26/2023 Project Lodge DO Lodging Service New Construction ? ? ? $9,500,000 to $12,500,000 Active Search