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EDA Agenda - 08/09/2023AGENDA REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, August 9, 2023 — 6:00 p.m. Mississippi Room, Monticello Community Center SPECIAL CLOSED MEETING — ECONOMIC DEVELOPMENT AUTHORITY (EDA) Monticello Community Center 7:00 p.m. Consideration of Offers or Counteroffers for the Purchase or Sale of Real Property located at 216 Pine Street, PID 155-010-034010 Authorized by MN Statue 13D.05, Subdivision 3 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 Payment of Bills D. Consideration of Approving Regular Meeting Minutes—June 28, 2023 E. Consideration of Approving Regular Meeting Minutes —July 12, 2023 F. Consideration of Additional Agenda Items 2. Consent Agenda A. Consideration of Approving Funding for the 2023 IEDC Manufacturers' Appreciation Breakfast Event in the amount of $1,200 3. Public Hearing N/A 4. Regular Agenda A. Consideration of Resolution #2023-07 Approving First Amendment To Lease between City of Monticello EDA and the City of Monticello for property located at 349 West Broadway B. Consideration of Resolution #2023-08 Authorizing the 2024 HRA Special Benefit Property Tax Levy in the Amount of $451,000 and the EDA General Fund Budget in the Amount of $499,000 5. Other Business A. Consideration of Economic Development Manager's Report 6. Adjournment EDA Agenda: 8/9/23 1C. Consideration of Approving Payment of Bills Prepared by: Meeting Date: ® General Business Item Community & Economic Development 8/9/2023 ❑ Regular Agenda Item Coordinator ❑ Consent Agenda Item 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 June & July 2023. 2. Motion to approve payment of bills through June & July 2023 with changes as directed by the EDA. STAFF RECOMMENDATION: Staff recommends approval of Alternative 1. SUPPORTING DATA: A. Accounts Payable Summary Statements for June B. Accounts Payable Summary Statements for July Accounts Payable Transactions by Account CITY F � User: Ju Printed: 06/08/2023 - 9:OOAM onti effo Batch: 00202.06.2023 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-421990 CITY OF MONTICELLO Card for IEDC Memeber 06/13/2023 127103 4.97 Vendor Subtotal for Dept:46301 4.97 213-46541-435100 ECM PUBLISHERS INC PH UMC Subsidy Ad# 1318885 06/13/2023 0 194.25 Vendor Subtotal for Dept:46541 194.25 Subtotal for Fund: 213 199.22 Report Total: 199.22 AP -Transactions by Account (06/08/2023 - 9:00 AM) Page 1 Accounts Payable Transactions by Account CITY F � User: Ju Printed: 06/22/2023 - 9:07AM onti effo Batch: 00204.06.2023 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-430400 KENNEDY AND GRAVEN CHAR] General EDA- April 2023 06/27/2023 127150 487.50 213-46301-430400 KENNEDY AND GRAVEN CHAR] Moon Motors Warehouse Developmer 06/27/2023 127150 45.00 213-46301-430400 KENNEDY AND GRAVEN CHAR] Business Facade Grant Program - Apri 06/27/2023 127150 184.50 Vendor Subtotal for Dept:46301 717.00 213-46301-431990 WSB & ASSOCIATES INC Downtown Redevelopment Project - ? 06/27/2023 0 111.50 Vendor Subtotal for Dept:46301 111.50 213-46301-431993 WSB & ASSOCIATES INC 2023 Economic Development Service; 06/27/2023 0 1,255.00 Vendor Subtotal for Dept:46301 1,255.00 213-46541-431990 KENNEDY AND GRAVEN CHAR] 2019 UMC TIF -April 2023 06/27/2023 127150 922.50 Vendor Subtotal for Dept:46541 922.50 Subtotal for Fund: 213 3,006.00 Report Total: 3,006.00 AP-Transactions by Account (06/22/2023 - 9:07 AM) Page 1 Accounts Payable Transactions by Account User: Julie.Cheney Printed: 06/21/2023 - 3:25PM Batch: 00201.06.2023 Account Number Vendor Description GL Date Check No CITYonticello Amount PO No 213-46301-433100 US BANK CORPORATE PMT SYS EDAM - 2023 Summer Conference RF 06/15/2023 0 355.00 213-46301-433100 US BANK CORPORATE PMT SYS EDAM - 2023 Summer Conference RF 06/15/2023 0 355.00 Vendor Subtotal for Dept:46301 710.00 213-46301-438200 CITY OF MONTICELLO 7256-004 - 130 Brdwy- Stormwtr 06/15/2023 0 29.75 213-46301-438200 CITY OF MONTICELLO 7256-007 - 103 Pine St- EDA 06/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-008 - 112 River St. W EDA 06/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-0010 - 101 Brdwy W -EDA 06/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-0011 107 Brdwy W- EDA 06/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-013 - 113 Brdwy W - EDA 06/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-014 - 121 Brdwy W - EDA 06/15/2023 0 0.00 Vendor Subtotal for Dept:46301 29.75 213-46301-443990 US BANK CORPORATE PMT SYS Monti Chamber - April Lunch (JT) 06/15/2023 0 20.00 213-46301-443990 US BANK CORPORATE PMT SYS Monti Chamber - May Lunch (JT) 06/15/2023 0 20.00 Vendor Subtotal for Dept:46301 40.00 Subtotal for Fund: 213 779.75 Report Total: 779.75 AP -Transactions by Account (06/21/2023 - 3:25 PM) Page 1 Accounts Payable Transactions by Account User: Julie.Cheney Printed: 07/03/2023 - 3:37PM Batch: 00205.06.2023 Account Number " CITY O F onti effo Vendor Description GL Date Check No Amount PO No 213-46301-431991 DEMVI LLC Parking Lot Maintenance - June 2023 06/30/2023 Vendor Subtotal for Dept:46301 213-46301-438100 XCEL ENERGY 51-13295413-8 - 103 Pine St 06/30/2023 Vendor Subtotal for Dept:46301 Subtotal for Fund: 213 Report Total: The preceding list of bills payable totaling $4,198.83 was approved for payment. Date: 8/9/23. Approved by: Hali Sittig - Treasurer 0 213.86 213.86 0 0.00 0.00 213.86 213.86 AP -Transactions by Account (07/03/2023 - 3:37 PM) Page 1 Accounts Payable CITY F Y Transactions b Account 1b User: Julie.Cheney 3tjMSo!nti effo Printed: 07/06/2023 - 11:25AM Batch: 00202.07.2023 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-433100 JAMES THARES Mileage Reimbursement - EDAM Cox 07/11/2023 0 163.75 Vendor Subtotal for Dept:46301 163.75 213-46301-433100 HAYDEN STENSGARD Mileage Reimbursement - EDAM Cor 07/11/2023 0 163.10 Vendor Subtotal for Dept:46301 163.10 213-46540-465110 GRANITE CITY REAL ESTATE Pay As You Go - 1 st Pmt 2023 07/11/2023 127195 31,508.80 Vendor Subtotal for Dept:46540 31,508.80 Subtotal for Fund: 213 31,835.65 Report Total: 31,835.65 AP -Transactions by Account (07/06/2023 - 11:25 AM) Page 1 Accounts Payable Transactions by Account CITY F to e User: Julie.Cheney --ffo Printed: 07/20/2023 - 1:14PM Batch: 00203.07.2023 Account Number Vendor Description GL Date Check No Amount PO No 213-00000-155020 LEAGUE OF MN CITIES INS TRU Ins Premium 7/15/23 - 7/15/24 07/25/2023 127274 3,280.00 Vendor Subtotal for Dept:00000 3,280.00 213-00000-220110 KENNEDY AND GRAVEN CHAR] TIF 1-44 - Washburn POS Economic I 07/25/2023 127273 270.00 Vendor Subtotal for Dept:00000 270.00 213-46301-430400 KENNEDY AND GRAVEN CHAR] General EDA- May 2023 07/25/2023 127273 493.50 Vendor Subtotal for Dept:46301 493.50 213-46301-431993 WSB & ASSOCIATES INC 2023 Economic Development Service; 07/25/2023 0 2,095.00 Vendor Subtotal for Dept:46301 2,095.00 213-46301-436100 LEAGUE OF MN CITIES INS TRU Ins Premium 7/15/23 - 7/15/24 07/25/2023 127274 2,343.00 Vendor Subtotal for Dept:46301 2,343.00 213-46541-431990 KENNEDY AND GRAVEN CHAR] TIF 1-41 - 2019 UMC TIF - May 202_ 07/25/2023 127273 432.50 Vendor Subtotal for Dept:46541 432.50 AP-Transactions by Account (07/20/2023 - 1:14 PM) Page 1 Account Number Vendor Description GL Date Check No Amount PO No 213-46542-431990 WRIGHT CO AUDITOR-TREAS - . New TIF 1-42 District Set Up 01-041 07/25/2023 0 400.00 Vendor Subtotal for Dept:46542 400.00 213-46543-431990 WRIGHT CO AUDITOR-TREAS - . New TIF 1-43 District Set Up 01-041 07/25/2023 0 400.00 Vendor Subtotal for Dept:46543 400.00 213-46545-431990 WRIGHT CO AUDITOR-TREAS - , New TIF 1-45 District Set Up 01-041- 07/25/2023 0 400.00 Vendor Subtotal for Dept:46545 400.00 213-46546-431990 WRIGHT CO AUDITOR-TREAS - . New TIF 1-46 District Set Up 01-041 07/25/2023 0 400.00 Vendor Subtotal for Dept:46546 400.00 Subtotal for Fund: 213 10,514.00 Report Total: 10,514.00 AP -Transactions by Account (07/20/2023 - 1:14 PM) Page 2 Accounts Payable Transactions by Account User: Julie.Cheney Printed: 07/20/2023 - 1:13PM Batch: 00201.07.2023 Account Number Vendor Description CITYn Monticello GL Date Check No Amount PO No 213-46301-432200 US BANK CORPORATE PMT SYS USPS - IEDC Roundtable 07/15/2023 0 156.00 Vendor Subtotal for Dept:46301 156.00 213-46301-433100 US BANK CORPORATE PMT SYS Kahler Grand Hotel - EDAM Summer 07/15/2023 0 377.68 213-46301-433100 US BANK CORPORATE PMT SYS Kahler Grand Hotel - EDAM Summer 07/15/2023 0 343.08 213-46301-433100 US BANK CORPORATE PMT SYS Kahler Grand Hotel - Parking Charge 07/15/2023 0 34.60 Vendor Subtotal for Dept:46301 755.36 213-46301-438200 CITY OF MONTICELLO 7256-004 - 130 Brdwy- Stormwtr 07/15/2023 0 29.75 213-46301-438200 CITY OF MONTICELLO 7256-007 - 103 Pine St- EDA 07/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-008 - 112 River St. W EDA 07/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-0010 - 101 Brdwy W -EDA 07/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-0011 107 Brdwy W- EDA 07/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-013 - 113 Brdwy W - EDA 07/15/2023 0 0.00 213-46301-438200 CITY OF MONTICELLO 7256-014 - 121 Brdwy W - EDA 07/15/2023 0 0.00 Vendor Subtotal for Dept:46301 29.75 213-46301-443990 US BANK CORPORATE PMT SYS Jimmy Johns - Food for Special Joint I 07/15/2023 0 185.46 213-46301-443990 US BANK CORPORATE PMT SYS Moon Donuts - WCEDP Meeting 07/15/2023 0 21.95 Vendor Subtotal for Dept:46301 207.41 AP -Transactions by Account (07/20/2023 - 1:13 PM) Page 1 Account Number Vendor Description GL Date Check No Subtotal for Fund: 213 Report Total: Amount PO No 1,148.52 1,148.52 AP -Transactions by Account (07/20/2023 - 1:13 PM) Page 2 Accounts Payable Transactions by Account User: Julie.Cheney Printed: 08/01/2023 - 10:57AM Batch: 00204.07.2023 Account Number " CITY O F ' 4 i effo Vendor Description GL Date Check No Amount PO No 213-46301-431991 DEMVI LLC Parking Lot Maintenance - July 2023 07/31/2023 Vendor Subtotal for Dept:46301 213-46301-438100 XCEL ENERGY 51-13295413-8 - 103 Pine St 07/31/2023 Vendor Subtotal for Dept:46301 Subtotal for Fund: 213 Report Total: The preceding list of bills payable totaling $43,712.03 was approved for payment. Date: 8/9/23 Approved by: Hali Sittig - Treasurer 0 213.86 213.86 0 0.00 0.00 213.86 213.86 AP -Transactions by Account (08/01/2023 - 10:57 AM) Page 1 MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, June 28, 2023 — 7:00 a.m. Academy Room, Monticello Community Center Commissioners Present: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, 011ie Koropchak-White, Rick Barger, Councilmember Tracy Hinz, and Mayor Lloyd Hilgart Staff Present: Executive Director Jim Thares, Hayden Stensgard 1. General Business A. Call to Order President Steve Johnson called the regular meeting of the Monticello EDA to order at 7:00 a.m. B. Roll Call 7:00 a.m. Mr. Johnson called the roll. C. Consideration of Approving Special Meeting Minutes — May 10, 2023 TRACY HINZ MOVED TO APPROVE THE MAY 10, 2023, SPECIAL MEETING MINUTES. HALI SITTIG SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. D. Consideration of Additional Agenda Items None 2. Consent Agenda None 3. Public Hearing None 4. Regular Agenda A. Consideration of Authorizine a Six -Month Loan Deferment to Rustech Brewine LLC in connection with its 2017 GMEF Loan Executive Director Jim Thares provided an overview of the agenda item to the EDA and the public. The EDA was asked to consider authorizing a six-month loan deferment for Rustech Brewing, in connection with their active Greater Monticello Enterprise Fund (GMEF) loan. The deferment consideration was brought forward to the EDA following an electrical issue downtown, that caused damage to the brewing and refrigeration equipment. This would be the second deferment for Rustech Brewing since receiving their GMEF loan in 2017. Mr. Johnson asked if the accruing interest during the deferment period would be on hold as well. Mr. Thares clarified that the deferment is related to the principal and overall payments, and the interest on the principal of the loan will still accrue during the deferment period. Mr. Johnson said that the draft letter states the offer does not extend the maturity date of the loan. Mr. Thares acknowledged the wording and noted that staff believes to be consistent with the previous COVID-19 deferment, it is best to extend (push out) the maturity date by six months. The wording will be revised to reflect this view. Hali Sittig asked if the draft letter language regarding the interest being accrued would also be adjusted. Mr. Thares said that interest should be accrued during this proposed deferment period, and that portion of the draft letter would also be revised to make that clear. HALI SITTIG MOVED TO AUTHORIZE A SIX-MONTH LOAN DEFERMENT TO RUSTECH BREWING, LLC IN CONNECTION WITH ITS 2017 GMEF LOAN. LLOYD HILGART SECONDED THE MOTION. MOTION CARRIED 5-0, WITH ABSTENTIONS FROM JON MORPHEW AND TRACY HINZ. B. Consideration of Adopting Resolution No. 2023-06 authorizing the early decertification of Tax Increment Financing (TIF) District 1-22 and submittal of final reports to the Minnesota Office of the State Auditor Mr. Thares provided an overview of the agenda item to the EDA and the public. Redevelopment TIF District 1-22 was established in 1997, covering a majority of the downtown area in Monticello. With the maximum redevelopment TIF District duration allowed by statute being 25 years, the district is anticipated to expire in 2024. Since all outstanding obligations of the district are satisfied, the EDA is required to decertify early, by December 31, 2023. Staff feel having the appropriate paperwork completed now is a good first step in this process. TRACY HINZ MOVED TO APPROVE RESOLUTION NO. 2023-06 DECERTIFYING TAX INCREMENT FINANCING (TIF) DISTRICT #1-22. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. C. Consideration of Authorizing a marketing expenditure for a "Site Selection" (magazine) ad in the "Xcel Energy Intelligence Report" feature (September 2023) in the amount of up to $3,300 Mr. Thares provided an overview of the agenda item to the EDA and the public. Xcel Energy recently informed City staff that they are placing a leading multi -page story ad in Site Selection Magazine. This is a pre-eminent corporate facility and real estate development periodical catering to economic development activities in North America. The circulation is between 40,000 to 55,000 decision-making readers. Xcel is inviting communities in its service territory to join in on the ad buy through placement of ads promoting their communities in the bi-monthly magazine. The total cost of a third -page ad is $3,000. The magazine company charges an additional $300 to format the ad if it is not print ready. Mr. Johnson asked if the ad would be in all 6 magazine issues. Mr. Thares clarified that the proposed ad would only be published in the September 2023 issue of Site Selection. He also noted that this is only one option of multiple ways for the EDA to market the Monticello community. The ad buy does comport with the Integrated Marketing and Communications Plan (IMCP) in that it identifies target ad buys in desired print media. The 2023 marketing budget has approximately $37,100 remaining. Mayor Hilgart said it might be beneficial to reach out to communities who have used the magazine for outreach, and if anything has come from their efforts. Following discussion of the agenda item, the EDA consensus was to not participate in the magazine advertisement through the "Xcel Energy Intelligence Report". EDA members did articulate that they do want to market Monticello's attributes and opportunities and asked staff to compile alternative advertising methods that could subsequently be reviewed and considered at a future meeting. Tracy left at 7:44 a.m., leaving 6 voting members to carry out the remainder of the meeting agenda. HALI SITTIG MOVED TO TABLE THE MARKETING DISCUSSION UNTIL MORE INFORMATION IS PROVIDED ON MARKETING OPPORTUNITIES. JON MORPHEW SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. 5. Other Business A. Consideration of Economic Development Manager's Report Mr. Thares provided an overview of the agenda item to the EDA and the public. 6. Adjournment HALI SITTIG MOVED TO ADJOURN THE JUNE 28, 2023, REGULAR MEETING OF THE MONTICELLO EDA. OLLIE KORPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. MEETING ADJOURNED AT 8:02 A.M. MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, July 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, Councilmember Tracy Hinz Commissioners Absent: Mayor Lloyd Hilgart Staff Present: Executive Director Jim Thares, Angela Schumann, Hayden Stensgard 1. General Business A. Call to Order President Steve Johnson called the regular meeting of the Monticello EDA to order at 6:04 p.m. B. Roll Call 6:00 a.m. Mr. Johnson called the roll. C. Consideration of Approving Special Meeting Minutes —June 14, 2023 Agenda items 1C and 1D were approved together under a single motion. D. Consideration of Approving Regular Meeting Minutes —June 14, 2023 HALI SITTIG MOVED TO APPROVE THE JUNE 14, 2023, SPECIAL AND REGULAR EDA MEETING MINUTES. RICK BARGER SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. E. Consideration of Additional Agenda Items None 2. Consent Agenda N/A 3. Public Hearing N/A 4. Regular Agenda A. Consideration of authorizing MontiArts installation of a public mural art project on vacant EDA owned Darcel located at 218 West Broadwav Executive Director Jim Thares introduced the Director of MontiArts, Sue Seeger. Monti Arts Director, Sue Seeger, provided an overview of the agenda item to the EDA and the public. MontiArts is interested in utilizing the vacant EDA -owned property on Block 36 downtown for a mural to be showcased on the property. Ideally, MontiArts would like to use the West -exposed wall of the Atlas Staffing building to place the mural on. Ms. Seeger noted she is continuing efforts to contact the property owner to do so. Mr. Johnson asked if official action was needed on the agenda item. Mr. Thares said that it would be best to authorize permission to use the EDA lot. Mr. Johnson asked if there were any setback requirements in the Central Community District (CCD) that MontiArts should be aware of. Community Development Director Angela Schumann said that there are no setbacks related to art in the CCD. HALI SITTIG MOVED TO AUTHORIZE MONTI ARTS TO COMPLETE A PUBLIC MURAL ART PROJECT ON A VACANT PARCEL OWNED BY THE EDA, LOCATED AT 218 WEST BROADWAY STREET. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. B. Consideration of Draft 2024 EDA Budget Proposal and Property Tax Levy Amount; Review and Approval Process Mr. Thares provided an overview of the agenda item to the EDA and the public. A discussion item, City staff introduced a preliminary 2024 EDA budget and HRA property tax levy amount. Based on discussion, staff will adjust the preliminary budget as directed and bring it back for official adoption at the August 9, 2023, EDA meeting. Mr. Thares mentioned that Mayor Hilgart reviewed the item prior to the meeting and had no questions or concerns with what was presented in the preliminary budget. The Mayor asked Mr. Thares to share his viewpoints with the EDA members. With no adjustments to the 2024 proposed levy and budget consensus of the EDA regarding the preliminary levy and the budget and directed staff to finalize and bring back to the EDA for official action at an upcoming meeting. 5. Other Business A. Consideration of Economic Development Manager's Report Mr. Thares provided an overview of the agenda item to the EDA and the public. The quarterly update from economic development consultant WSB & Associates Presented within the Economic Development Manager's Report was. 6. Adjournment TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO EDA. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. MEETING ADJOURNED AT 6:46 P.M. EDA Agenda: 08/09/23 2A. Consideration of approving funding for the 2023 Manufacturers Appreciation Breakfast Event (October 12, 2023) in the amount of $1,200 Prepared by: Meeting Date: ❑ Regular Agenda Item Economic Development Manager 08/09/23 ❑x Consent Agenda Item Reviewed by: Approved by: Community Development Director, City Administrator Community & Economic Development Questions for Speaker Coordinator Conclude Event ACTION REQUESTED 1. Motion to authorize funding supporting the IEDC Manufacturers Appreciation Breakfast Event in the amount of $1,200. 2. Motion of other. REFERENCE AND BACKGROUND The Manufacturers' Appreciation Breakfast, formerly Industry of the Year, is a business recognition and retention effort sponsored by the Industrial and Economic Development Committee (IEDC) and the EDA. The event is an opportunity to focus on and celebrate the contributions of the Monticello manufacturing and industrial community. It is held each year in conjunction with Minnesota Manufacturer's Week (typically the first week in October). Attendance for this event has historically been in the range of 65 to 90 people and typically starts at 7:00 a.m. and ends at 8:15 a.m. This year the Manufacturers' Appreciation Breakfast is scheduled for October 12, 2023, in the Monticello Community Center (MCC). Event planning and preparation kicked off at the August 1st, 2023, IEDC meeting and will continue through August and September. The event elements consist of the following. • 7:00 a.m. Networking and Breakfast Served • 7:20 a.m. Introduction, Sponsors Thank You • 7:25 a.m. Recognition Statement honoring Manufacturers • 7:30 a.m. Speaker Introduction — IEDC Chair • 7:35 a.m. Guest Speaker Presentation • 8:00 a.m. Questions for Speaker • 8:15 a.m. Conclude Event In the past, the EDA has funded a portion of the costs associated with the event with city staff completing the planning and organizing. Staff also secured commitments for event sponsorships in 2022 in the amount of $1,200 to help defray the costs. Expenses include the EDA Agenda: 08/09/23 complimentary breakfast, table decor and preparation, estimated at $2,300 +/-. Invitations and promotions are completed in-house at minimal cost. Supporting the IEDC in its lead role of Business Retention & Expansion efforts, of which the Manufacturers' Week events is a small part, is identified in the EDA's adopted 2022-2024 Workplan (Goal 7, Policy 7.1.5). The EDA is being asked to consider funding $1,200 for the event. Budget Impact: The total Manufacturers' Appreciation Breakfast cost is estimated at $2,300. Private sector sponsors are being asked to each contribute $300 each for the event as well. The 2023 EDA General Fund Budget contains Advertising -Marketing dollars in the amount of $37,500. The EDA has sufficient funds in its Marketing line item to cover $1,200 of the estimated costs. The balance of expense funding is anticipated to be covered by sponsorships. II. Staff Workload Impact: Staff coordination is estimated at 18 to 24 hours. The Community and Economic Development Coordinator, Community Development Assistant, and Economic Development Manager have been involved in the work tasks related to the event. Additionally, the Marketing and Communications Coordinator is involved in the event marketing and promotional tasks. III. Comprehensive Plan Impact: The Monticello 2040 + Plan's Economic Development Chapter includes statements illustrating a focus on supporting existing businesses and attracting new ones. The Plan states that...."it is the City's intention to maintain a strong Business Retention and Expansion Program." In addition, there is a recognition in the Plan that this effort "will allow the City to facilitate continued growth and expansion of businesses as well as the continued relationship between the City and existing businesses." STAFF RECOMMENDED ACTION Staff recommends approval of the funding contribution towards the IEDC Manufacturers Appreciation Breakfast in the amount of $1,200. If the EDA contributes funds along with the private sector businesses, the total event funding of $2,400 should be sufficient to cover the expected costs which is comprised of food and beverages, door prize give aways and table decorations (flowers). This event is Monticello's signature opportunity to thank its existing manufacturers and industries and support business retention and expansion activities. The EDA's funding support is vital to holding a successful event. SUPPORTING DATA • 2023 IEDC Action Statements INDUSTRIAL & ECONOMIC DEVELOPMENT COMMITTEE 2023 ACTION STATEMENTS Mission Statement: The Monticello IEDC will advocate industrial and economic growth within the City of Monticello by promoting awareness and communication efforts on behalf of the business community. Goal: The IEDC is dedicated to being pro -active in following the objectives and policies established in the Monticello Comprehensive Plan. It is the intention of the IEDC to work within the areas identified below as supporting objectives and actions. Objective: Workforce Development, Job Creation and Retention 1. Encourage and Support Business Retention within Monticello. a. In collaboration with Wright County Economic Development Partnership (WCEDP), conduct Business Retention (BR&E) visits with key business in the community to help grow stronger relationships between businesses and Governmental units. b. Using shared information and relevant data points obtained in BR&E visits, assemble a Business Retention Action Plan and present to policy makers as needed. c. Market and present various assistance programs available via the City and EDA. 2. Enhance Workforce Development through Partnerships with Local Educators, Businesses, Organizations and Agencies. a. Based on the need of the businesses, partner with Wright County and key leaders of our local businesses, educators, and others to develop and execute a Workforce Development Plan. b. Collaborate with and support the Monticello School District in growing their initiatives to bring businesses into the classrooms. c. Explore and support ways business can bring relevance to educational classes & programs. d. Collaborate with the Wright Technical Center (WTC), Buffalo, in developing and promoting career training programs and courses. e. Continue to engage stakeholders to raise awareness of labor force demographics and potential solutions such as youth career building initiatives. f. Support residential land development and workforce housing as it correlates to workforce development. 3. Recognize the contributions of Monticello manufacturers through organization of and participation in industry -related events. a. Promote and organize Manufacturer's Week 2023 events. b. Organize and hold a Manufacturer's Week Appreciation Breakfast. Objective: Industrial Growth and Tax Base Expansion Through Recruitment and Retention 1. Support the recruitment of business which further the goals and objectives for the community as guided by the Comprehensive Plan. a. Participate in implementing the Integrated Marketing and Communications Plan (IMCP). b. Support exploration of development of an incubator -accelerator as way of supporting start-up businesses and entrepreneurs into the community. 2. Continue to lead the City in moving forward key transportation projects which support economic development. a. Participate in the "Business Day at the Capitol" event(s) and lobby on behalf of the Monticello community to help City staff bring attention to our local transportation needs. b. Support and collaborate in the creation of a needs -based transportation priority statement for lobbying/support purposes. c. Encourage and support key transportation projects which improve product delivery for businesses, such as interchange, freeway, and bridge crossing projects. d. Identify specific benefits of a 3rd interchange to businesses and/or community and support policy encouraging future development of the interchange. e. Monitor the CMRRPP (Central Mississippi River Regional Planning Partnership) initiative and offer comments on various land and transportation system development plans. 3. Identify, evaluate, and provide recommendations in an advisory capacity to the City regarding general land use, industrial land supply and availability, tax base matters and economic development. a. Periodically evaluate current property inventory and uses for Industrial properties with the objective of better marketing efforts. b. Monitor industrial land availability with the following metrics: 1. Total acreage with developed infrastructure, zoned, and available to purchase and the maximum acreage of a contiguous, buildable lot. 2. Total acreage with undeveloped infrastructure, zoned, and available to purchase. Owner contact information. 3. Total acreage preserved in Land Use Plan for future development. c. Monitor and support periodic review of accessibility to Interstate 94 and State Highway 25 and utility capabilities. d. Monitor and provide comments of the site selection process related to locating future industrial -business park development. e. Monitor the status of the Monticello Nuclear Generating Plant in relation to its license renewal in 2030 and as it relates to potential NW Interchange (Orchard Road) Land Use and Environmental Studies. 4. Support community quality of life initiatives which enhance Monticello's objectives for high quality development across the land use spectrum, including residential, commercial, industrial, and civic uses. a. Support and encourage the development of the Bertram Chain of Lakes Regional Park and recommend the development of a pathway connection to Monticello Businesses. b. Promote CentraCare Health Monticello to industrial businesses. c. Develop a visioning worksheet to get IEDC members views on residential, commercial, and industrial needs and challenges related to needed future planning and ordinance changes. d. Review and coordinate public and private actions with parks and trails. e. Support review of childcare services barriers, opportunities, programs, and collaborate, as needed, with partner entities in lobbying to enhance and support efforts to bring economical childcare services into the community. f. Support and enhance efforts to recruit a new restaurant and lodging facility into the City. 5. Support and facilitate regional development plans and initiatives. a. Support the implementation of the Regional 2022 CEDS (Comprehensive Economic Development Strategy) Update Plan through strategy review, feedback, and identification of local projects for federal funding support. b. Monitor the CMRRPP (Central Mississippi River Regional Planning Partnership) initiative and provide comments, as appropriate, on various stages of plan development. 6. Promote communications & engagement with Monticello businesses and prospects. a. Create and host a Monticello business round table event which will offer businesses a platform for discussion and information sharing about financial assistance programs, development entitlement processes and labor training funding resources. b. Facilitate "Industrial Round Tables" allowing sharing of information about available industrial sites, development financial assistance programs, labor training funding programs and entitlement review and approval processes. c. Sponsor networking individually and in small groups for input. EDA Agenda: 08/09/23 4A. Consideration of Adopting Resolution No. 2023-07 approving First Amendment To Lease between the EDA and the Citv of Monticello for 349 West Broadwav (Fred's Auto) in connection with and for the benefit of the Parks & Recreation Department's use for MontiArts activities Prepared by: Meeting Date: ❑x Regular Agenda Item Economic Development Manager 08/09/23 ❑ Consent Agenda Item Reviewed by: Approved by: Community Development Director, City Administrator Community & Economic Development Coordinator, Park & Recreation Director ACTION REQUESTED Motion to adopt Resolution 2023-07 approving a First Amendment To Lease between the EDA and the City of Monticello for 349 West Broadway (Fred's Auto) in connection with and for the benefit of the Parks & Recreation Department's use of the property for MontiArts activities. Motion of other as determined by the EDA. REFERENCE AND BACKGROUND This EDA is asked to approve a "First Amendment To Lease" between the City of Monticello Parks & Recreation Department (Tenant) and the City of Monticello EDA (Landlord) for property located at 349 West Broadway. The Parks & Recreation Department has been using the former Fred's Gas Station as a multi-purpose arts programing craft shop and storage area since September 2018. The original Lease Agreement was approved for two years in mid -2018 and extended for an additional two years in May 2020, through August 31, 2022. The Lease has now lapsed. The Parks, Arts, & Recreation Department (MontiArts) would like to continue to use the property. MontiArts staff have indicated the facility is crucial for larger art projects and activities and as a gathering place for artistic themed activities and expression. The Lease Term changes are spelled out in "Section 3. Term of Lease." The specific language states, "This Lease shall be in force from September 1, 2018 through August 31, 2025, and may be terminated by the Landlord or the Tenant with 45 days' written notice. The parties agree that the Lease may be extended upon mutual agreement of the parties." As a reminder, per the Lease terms, the Parks, Arts, & Recreation Department is responsible for all operating and maintenance costs of the property. These include building and system maintenance, repair costs, as well as all utility expenses, i.e., water, sewer, garbage, heat, electrical and internet. EDA Agenda: 08/09/23 Further, it should be noted that item 13 of the Lease provides for EDA approval of other improvements to the building by the Tenant so as to preserve future redevelopment eligibility. These improvements include exterior alterations or major repairs to the interior of the building and its systems. Storage is not allowed in the Central Community District (CCD) without a Conditional Use Permit. Outdoor Sales & Display is permitted as an accessory use subject to the specific requirements of the ordinance. Although the building is located on a block next to the former U.S. Post Office facility that has potential for future redevelopment activity, there have been no development inquiries regarding the property in the past several years. In the event there is a future development interest in this block, the amended Lease has language allowing either party to cancel the lease with 45 days' written notice. The First Amendment To Lease and the original Lease Agreement are both attached to the staff report. The City Council has previously authorized the First Amendment To Lease at its regular July 24, 2023, meeting. I. Budget Impact: The cost of considering the proposed First Amendment to Lease is estimated to be approximately $635. The costs are related to the EDA Attorney legal fees for drafting resolutions and the First Amendment To Lease document. II. Staff Workload Impact: City staff involved in the Lease amendment tasks includes the Community Development Director, Economic Development Manager, Parks, Art & Recreation Director, and the EDA attorney. Staff tasks have consisted of discussions with the EDA attorney and review of documents and drafting the staff report. 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. STAFF RECOMMENDATION Staff recommends approval of the First Amendment To Lease allowing continued use of the EDA owned property for the benefit of the MontiArts programing activities. If the EDA approves the First Amendment To Lease, it revises the Lease Term as being in force from September 1, 2018, through August 31, 2025, with future extensions upon mutual agreement of both parties. SUPPORTING DATA A. Resolution No. 2023-07 EDA Agenda: 08/09/23 B. First Amendment To Lease — 349 West Broadway C. Signed City Council Resolution No. 2023-67 D. Original Signed Lease Agreement between City and EDA - 349 West Broadway (Fred's Auto) E. Aerial Photo — 349 West Broadway EDA RESOLUTION NO. 2023-07 RESOLUTION APPROVING A FIRST AMENDMENT TO LEASE BETWEEN THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY AND CITY OF MONTICELLO PARKS & RECREATION DEPARTMENT BE IT RESOLVED BY the Board of Commissioners ('Board") of the City of Monticello Economic Development Authority (the "Authority") as follows: Section 1. Recitals. 1.01. The Authority currently administers Central Monticello Development Project No. 1 (the "Project"), pursuant to Minnesota Statutes, Sections 469.090 to 469.1082, as amended. 1.02. To facilitate redevelopment within the Project, the Authority previously acquired certain property located at 349 West Broadway Street in Monticello, Minnesota (the "Property") and intends to hold the Property until such time as a favorable redevelopment prospect is presented to the Authority. 1.03. In order to maintain the Property and to prevent additional blighting conditions, the Authority and the Monticello Parks Department, a division of the City of Monticello, Minnesota (the "Tenant"), entered into that certain Lease Agreement, dated as of December 10, 2018 (the "Lease"), providing the terms and conditions of the occupancy of the Property by the Tenant for use as a multi-purpose arts programming craft shop and related storage facility. 1.04. The Lease was extended pursuant to the terms thereof on May 12, 2021, and the parties now wish to further extend the Lease and have negotiated a First Amendment of Lease (the "Amendment") in the form presented to the Board, to extend the termination date to August 31, 2025, with further extensions allowed by mutual agreement of the parties. Section 2. Amendment Approved. 2.01. The Board hereby approves the Amendment in substantially the form on file with the Executive Director, together with any related documents necessary in connection therewith (collectively, the "Amendment Documents"), and hereby authorizes the President of the Authority (the "President") and Executive Director, in their discretion and at such time, if any, as they may deem appropriate, to execute the same on behalf of the Authority, and to carry out, on behalf of the Authority, the Authority's obligations thereunder when all conditions precedent thereto have been satisfied. 2.02. The approval hereby given to the Amendment Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the Authority and by the officers authorized herein to execute said documents prior to their execution; and said officers are hereby authorized to approve said MN325\31\887449.v1 changes on behalf of the Authority. The execution of any instrument by the appropriate officers of the Authority herein authorized shall be conclusive evidence of the approval of such document in accordance with the terms hereof. This resolution shall not constitute an offer and the Amendment Documents shall not be effective until the date of execution thereof as provided therein. 2.03. In the event of absence or disability of the officers, any of the documents authorized by this resolution to be executed may be executed without further act or authorization of the Board by any duly designated acting official, or by such other officer or officers of the Board as, in the opinion of the City Attorney, may act in their behalf. Upon execution and delivery of the Amendment Documents, the officers and employees of the Board are hereby authorized and directed to take or cause to be taken such actions as may be necessary on behalf of the Board to implement the Amendment Documents. APPROVED this 9th day of August, 2023, by the Board of Commissioners of the City of Monticello Economic Development Authority. President ATTEST: Executive Director MN325\31\887449.v1 FIRST AMENDMENT TO LEASE THIS FIRST AMENDMENT TO LEASE (the "Amendment") is made as of the _ day of 2023, by and between City of Monticello Parks Department, a division of the City of Monticello, Minnesota ("Tenant"), and the City of Monticello Economic Development Authority, a Minnesota body corporate and politic (the "Landlord"). RECITALS: A. Landlord and Tenant are the landlord and tenant, respectively, under that certain Lease Agreement, dated as of December 10, 2018, which was extended by that certain Extension of Lease Agreement, dated as of May 12, 2021, by and between the Landlord and the Tenant (collectively, the "Lease"). B. Landlord and Tenant now desire to execute this Amendment allowing for an extension of the term of the Lease. NOW, THEREFORE, in consideration of the foregoing, the covenants contained in the Lease and other good and valuable consideration, the receipt and sufficiency of which each party hereby acknowledges, Landlord and Tenant agree as follows: 1. Amendment to Section 3 of the Lease. Section 3 of the Lease is deleted in its entirety and is replaced with the following: 463. Term of Lease. This Lease shall be in force from September 1, 2018 through August 31, 2025, and may be terminated by the Landlord or the Tenant with 45 days' written notice. The parties agree that the Lease may be extended upon mutual agreement of the parties." 2. Miscellaneous. Except as amended by this Amendment, the Lease and Amendments shall remain in full force and effect. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. (The remainder of this page is intentionally left blank.) IN WITNESS WHEREOF, Landlord and Tenant have hereunto set their hands and seals, as of the day and year above written. LANDLORD: CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY Lo Its: President By: Its: Executive Director STATE OF MINNESOTA COUNTY OF WRIGHT The foregoing instrument was acknowledged before me this day of , 2023, by Steve Johnson, the President, and Jim Thares, the Executive Director of the City of Monticello Economic Development Authority, on behalf of the Authority. Notary Public B-2 MN325\31\887416.v1 TENANT: CITY OF MONTICELLO PARKS DEPARTMENT By: THE CITY OF MONTICELLO, MINNESOTA By: Its: Mayor By: Its: City Clerk STATE OF MINNESOTA COUNTY OF WRIGHT The foregoing instrument was acknowledged before me this day of , 2023, by Lloyd Hilgart, the Mayor of the City of Monticello, Minnesota and Jennifer Schreiber, the City Clerk of the City of Monticello, Minnesota, on behalf of the City of Monticello, Minnesota. Notary Public B-3 MN325\31\887416.v1 CITY OF MONTICELLO WRIGHT COUNTY STATE OF MINNESOTA RESOLUTION NO. 2023-67 RESOLUTION APPROVING A FIRST AMENDMENT TO LEASE BETWEEN THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY AND CITY MONTICELLO PARKS DEPARTMENT BE IT RESOLVED BY the City Council ("Council") of the City of Monticello, Minnesota (the "City") as follows: Section 1. Recitals. 1.01. The City of Monticello Economic Development Authority (the "Authority") currently administers Central Monticello Development Project No. 1 (the "Project"), pursuant to Minnesota Statutes, Sections 469.090 to 469.1082, as amended. 1.02. To facilitate redevelopment within the Project, the Authority previously acquired certain property located at 349 West Broadway Street in Monticello, Minnesota (the "Property") and intends to hold the Property until such time as a favorable redevelopment prospect is presented to the Authority. 1.03. In order to maintain the Property and to prevent additional blighting conditions, the Authority and the Monticello Parks Department, a division of the City (the "Tenant"), entered into that certain Lease Agreement, dated as of December 10, 2018 (the "Lease"), providing the terms and conditions of the occupancy of the Property by the Tenant for use as a multi-purpose arts programming craft shop and related storage facility. 1.04. The Lease was extended pursuant to the terms thereof on May 12, 2021, and the parties now wish to further extend the Lease and have negotiated a First Amendment of Lease (the "Amendment") in the form presented to the Council, to extend the termination date to August 31, 2025, with further extensions allowed by mutual agreement of the parties. Section 2. Amendment Approved. 2.01. The Council hereby approves the Amendment in substantially the form on file with the City Administrator, together with any related documents necessary in connection therewith (collectively, the "Amendment Documents"), and hereby authorizes the Mayor and City Administrator, in their discretion and at such time, if any, as they may deem appropriate, to MN325\31\887450.v] execute the same on behalf of the City, and to carry out, on behalf of the City, the City's obligations thereunder when all conditions precedent thereto have been satisfied. 2.02. The approval hereby given to the Amendment Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the City and by the officers authorized herein to execute said documents prior to their execution; and said officers are hereby authorized to approve said changes on behalf of the City. The execution of any instrument by the appropriate officers of the City herein authorized shall be conclusive evidence of the approval of such document in accordance with the terms hereof. This resolution shall not constitute an offer and the Amendment Documents shall not be effective until the date of execution thereof as provided therein. 2.03. In the event of absence or disability of the officers, any of the documents authorized by this resolution to be executed may be executed without further act or authorization of the Council by any duly designated acting official, or by such other officer or officers of the Council as, in the opinion of the City Attorney, may act in their behalf. Upon execution and delivery of the Amendment Documents, the officers and employees of the Council are hereby authorized and directed to take or cause to be taken such actions as may be necessary on behalf of the Council to implement the Amendment Documents. Approved this 24th day of July, 2023, by the City Council of the City of Monticello, Minnesota. Mayor ATTEST: MN325\31\887450.v I LEASE AGREEMENT THIS LEASE AGREEMENT ("Lease") is made as of December La, 2018, by and between the City of Monticello Economic Development Authority, a Minnesota public body corporate and politic ("Landlord") and the City of Monticello Parks Department ("Tenant"). 1. Premises. In consideration of the rents and covenants contained herein, and subject to the terms of this Lease, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord that real property which is described on the attached Exhibit A (the "Premises"). 2. Acceptance of Premises. Tenant accepts the Premises in its present "as is" condition, but subject to the terms and conditions of this Lease. 3. Term of Lease. This Lease shall be in force from September 1, 2018 through August 31, 2020, and may be terminated by the Landlord or the Tenant with 45 days' written notice. The parties agree that the Lease may be extended by one additional period of 24 months upon mutual agreement of the parties. 4. Rent. No rent shall by payable by Tenant to Landlord. 5. Quiet Enjoyment. If Tenant complies with all terms of this Lease, Tenant may use the Premises for the term of this Lease. 6. Use of Premises. The Premises shall be used and occupied only for the purpose of a multi- purpose arts programming craft shop and storage facility, in conformity with applicable ordinances and governmental regulations. 7. Right of Entry. Landlord and Landlord's agents may enter the Premises at reasonable hours to repair or inspect the Premises and perform any work that Landlord decides is necessary. 8. Assignment and Subletting by Tenant. Tenant may not assign this Lease, sublease the Premises to any other party or permit any other party to use the Premises or any part of the Premises without the prior written consent of Landlord. Any assignment or sublease without Landlord's written consent will not be effective. Any such consent by Landlord shall not be a waiver of Landlord's rights under this Section as to any subsequent similar action. If Tenant is a corporation, company, partnership or otherwise is not a natural person, and there shall occur any change in the identity of the parties who are the owners of such entity, or who have the power to participate in the management of the affairs of such entity, then Tenant shall so notify Landlord in writing, and Landlord may terminate this Lease by reason of any such event by written notice to Tenant given at any time within sixty (60) days after receipt of the notice of change in identity from Tenant. 9. Sale of Premises by Landlord. Upon any sale of the Premises, and provided the purchaser shall assume all obligations of Landlord under this Lease, Landlord shall thereupon be entirely freed of all obligations of Landlord under this Lease arising from any act, omission or event occurring after such conveyance. Upon such sale and the transfer of Landlord's interest under this 532501v1 Lease, Tenant agrees to recognize and attom to such transferee, and Tenant agrees upon request to execute and deliver documentation setting forth the provisions of this Section. 10. Utilities. Tenant shall timely pay for all utilities provided to the Premises during the term of this Lease. 11. Maintenance and Repair. Tenant shall keep the Premises, including the parking area and grounds, in reasonable repair during the term of this Lease and shall maintain the Premises in compliance with applicable health and safety laws, all at Tenant's sole expense, including without limitation repair or replacement of plumbing fixtures, water heater, furnace, and garage or entry doors. 12. Real Estate Taxes and Assessments. Landlord shall pay all real estate taxes, including installments of special assessments, which become payable during the term of this Lease. 13. Alterations. Tenant shall not change the heating, electrical, plumbing, ventilation or air conditioning or make any other changes of or alterations to the Premises without the prior written consent of Landlord. Any alterations made by Tenant must comply with applicable codes and ordinances. Tenant may install its usual trade fixtures provided that they do not interfere with or damage the structural, mechanical or electrical systems of the Premises. At the expiration or termination of this Lease, Tenant shall promptly remove Tenant's trade fixtures and repair at its own expense any damage to the Premises resulting from their installation or removal. 14. Surrender of Premises. Tenant shall vacate the Premises at the expiration or termination of this Lease and all alterations, additions, improvements and fixtures (other than Tenant's trade fixtures and signs) which have been made or installed by Tenant shall remain as part of the Premises and shall be the sole property of Landlord. When Tenant vacates the Premises, Tenant shall leave the Premises in as good condition as it was when the Lease started, with the exception of reasonable wear and tear. If the Premises are not so surrendered, Tenant shall indemnify Landlord against loss, liability or expense resulting from delay by Tenant in so surrendering the Premises or failure to leave the Premises in the condition required under this Lease including, but not limited to, claims made by any succeeding tenant founded on such delay. Tenant shall surrender all keys to Landlord at the time Tenant vacates the Premises. 15. Damage to Premises. If the Premises are destroyed or damaged not due to the fault of Tenant or Tenant's guests, invitees or customers, and the Premises is unfit for use as a commercial establishment, Tenant shall not be required to pay rent for the time the Premises cannot be used. If part of the Premises cannot be used, Tenant shall only pay rent for the usable part. If the Premises are damaged or destroyed and the cost of repairing the Premises would exceed 30% of their pre -casualty value (exclusive of land), then Landlord may terminate this Lease within 30 days of the casualty by written notice to Tenant and may elect not to rebuild or repair the Premises, and the rent and other obligations of Tenant under this Lease shall be prorated up to the time of the casualty. If this Lease is not terminated pursuant to this Section, then Landlord shall proceed with reasonable diligence to repair and restore the Premises. 16. Insurance. 2 532501v1 A. Tenant shall purchase, in advance, and carry in full force and affect the following insurance: (1) "All risk" property insurance covering the full replacement value of all of Tenant's leasehold improvements, trade fixtures, inventory and personal property within or about the Premises, covering damage from any cause whatsoever; and (2) Comprehensive general public liability insurance naming both Landlord and Tenant as insureds, covering all acts of Tenant, its employees, agents, representatives and guests on or about the Premises, containing a contractual liability endorsement, in a combined single limit amount of not less than $1,000,000, and written on an "occurrence" basis. B. Landlord shall purchase, in advance, and carry in full force and effect commercial property insurance for the full insurable value of the Premises. 17. Risk of Loss; Premises Liability. Landlord shall have no liability to Tenant for any claim relating to injury to or loss of life of persons, or for any damage to, theft of or other loss of property of Tenant on the Premises, by whatever cause. All personal property kept, maintained, or stored on the Premises shall be kept, stored, or maintained at the sole risk of the Tenant. Tenant shall indemnify Landlord from and against all claims of other parties arising from or relating to injury or loss of life of persons, or damage to or loss of property, to the extent occurring in or about the Premises, or arising from Tenant's negligence or intentional misconduct. The said indemnification shall include the duty to pay all reasonable attorneys' fees and costs incurred by Landlord and shall survive the termination or expiration of this Lease. 18. Waiver of Claims and Subrogation. Notwithstanding any other provision in this Lease to the contrary, Landlord and Tenant hereby release one another from any and all liability or responsibility (to the other or anyone claiming through or under them by way of subrogation or otherwise) for any loss or damage covered by the insurance required by the Lease, even if such loss or damage shall have been caused by the fault or negligence of the other party, or anyone for whom such party may be responsible. 19. Condemnation. If any part of the Premises is taken or condemned for a public or quasi - public use, or any transfer made in lieu of condemnation, and a part of the Premises remains which is suitable for the use contemplated by this Lease, this Lease shall terminate only as to the part so taken and shall continue in full force as to the remaining part. The date of termination as to a part so taken shall be the date on which the condemnor takes title. The rent payable after that date shall be adjusted so that Tenant shall pay only such portion of the rent as the value of the part remaining bears to the total value of the Premises on the date of the taking. If all of the Premises is taken or condemned, or so much is taken that the use by Tenant shall be substantially impaired, Tenant may terminate this Lease by written notice to Landlord, and all obligations of Tenant shall be prorated as of the notice of termination. All compensation awarded upon any condemnation or taking shall go to Landlord. 3 532501v1 20. Default. If Tenant shall violate any covenant made by Tenant in this Lease and shall fail to comply or begin and diligently prosecute compliance within 15 days after being sent written notice of such violation by Landlord, then Landlord may, at Landlord's option, terminate this Lease by giving Tenant a written notice of termination, and in such event Tenant shall immediately vacate and surrender the Premises. A termination of this Lease by Landlord as a result of a default by Tenant shall not, however, extinguish the liability of Tenant for all rents and covenants provided for in this Lease for the balance of the term of this Lease. After any such termination, Tenant shall pay to Landlord on demand all expenses incurred by Landlord in performing any of Tenant's obligations under this Lease, re-entering or terminating the Lease, reletting the Premises, collecting sums due and payable by Tenant, and the expense of placing and keeping the Premises in good order and repair. 21. Heirs and Assigns. The terms of this Lease apply to Tenant and Landlord, and also to any heirs, legal representatives, successors and assigns of Tenant or Landlord. 22. Notices. All notices, demands and requests by either party to the other shall be in writing and shall be deemed given when sent by United States Certified Mail, postage prepaid (a) if for Tenant, addressed to Tenant at the address of the Premises, or such other place as Tenant may from time to time designate by written notice to Landlord; or (b) If for Landlord, addressed to Landlord at such place as Landlord may from time to time designate by written notice to Tenant. Notices shall also be deemed given if and when delivered to the other party in person. 23. Environmental Requirements. Tenant shall comply with all laws, governmental standards and regulations applicable to Tenant or the Premises in respect to occupational health and safety, hazardous waste and substances and environmental matters. Tenant shall promptly notify Landlord of its receipt of any notice of a violation of any such law, standard or regulation. Tenant agrees to indemnify and hold Landlord harmless from all loss, costs, damage, claim and expense incurred by Landlord on account of Tenant's failure to perform the obligations of this provision. The obligations of Tenant under this provision shall survive the expiration or termination of this Lease as to any such loss, cost, damage, claim and expense attributable to or arising out of activities or misfeasance of Tenant during the term of this Lease or its extension or renewal. 24. Landlord's Disclaimer of Warranty. Landlord disclaims any warranty that the Premises are suitable for the Tenant's use. 25. Relationship of Landlord and Tenant. The Lease does not create the relationship of principal and agent or of partnership or of joint venture or of any association between Landlord and Tenant, the sole relationships between the parties hereto being that of Landlord and Tenant under this Lease. 26. Waiver. No waiver of Landlord's remedies upon the occurrence of an Event of Default shall be implied from any omission by Landlord to take any action on account of such Event of Default, and no express waiver shall affect any Event of Default other than the Event of Default specified in the express waiver and such an express waiver shall be effective only for the time and 4 532501v1 to the extent expressly stated. One or more waivers by Landlord shall not then be construed as a waiver of a subsequent Event of Default. 27. Choice of Law. The laws of Minnesota shall govern the validity, performance and enforcement of this Lease. 28. Time. Time is of the essence in the performance of all obligations under this Lease. [Remainder of this page is intentionally left blank.] 5 532501v1 IN WITNESS WHEREOF, the parties hereto have executed this Lease in the manner sufficient to bind them as of the day and year first above written. LANDLORD CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY B Its: President TENANT CITY OF ONTICE`LLO PARKS DEPARTMENT By: i -- Its: S-1 532501v1 MNI MN325-31 EXHIBIT A PREMISES The South V2 of Lots 1, 2, and 3, in Block 50, Townsite of Monticello, according to the plat on file and of record in the office of the Register of Deeds in and for Wright County, Minnesota; Said South Y2 of Lots 1, 2, and 3, Block 50, can also be described as follows: Beginning at the mid -point on the common line between Lots 3 and 4, in said Block; thence Southerly along said common line 82.5 feet to the Southerly line of said Block (being the Southeast corner of said Lot 3); thence Westerly along the Southerly line of Lots 3, 2 and 1 for a distance of 99 feet to the Southwest corner of Lot 1; thence Northerly along the Westerly line of Lot 1 for a distance of 82.5 feet; thence straight Easterly 99 feet to the point of beginning and there terminating. Subject to existing easements, restrictions and reservations of record, if any. A-1 532501v1 MNI MN325-31 i rv� 0Y1, Beacon Wright County, MN Overview Legend Roads — CSAHCL — CTYCL — MUNICL — PRIVATECL — TWPCL Highways Interstate — State Hwy — US Hwy City/Township Limits ❑c �t Parcels Torrens Parcel ID 155010050011 Alternate ID n/a Owner Address 505WALNUTST Sec/'Twp/Rng 11-121-025 Class 956-5E MUNICIPAL -PUBLIC SERVICE MONTICELLO, MN 55362 Property Address 349 BROADWAY W Acreage n/a MONTICELLO District (1101) CITY OF MONTICELLO-0882 Brief Tax Description SECT -11 TWP-121 RANGE -025 ORIGINAL PLAT MONTICELLO LOT -001 BLOCK -050 S1/2 OF LTS 1,2&3 LOCK -050 S1/2 OF LTS 1,2&3 (Note: Not to be used on legal documents) Date created: 7/5/2023 Last Data Uploaded: 7/5/2023 7:14:50 AM Developed by*., Schneider 7 GEOSPATIAL EDA Agenda: 08/09/23 413. Consideration of Resolution No. 2023-08 authorizing the 2024 HRA Special Benefit Property Tax Levy in the amount of $451,000 and the EDA General Fund Budget in the amount of $499,000 Prepared by: Meeting Date: ® Regular Agenda Item Economic Development Manager 08/09/23 ❑ Consent Agenda Item Reviewed by: Approved by: Community Development Director, City Administrator Community & Economic Development Coordinator, Finance Director ACTION REQUESTED Motion to adopt Resolution No. 2023-08 approving the 2024 HRA Special Benefit Property Tax Levy in the amount of $451,000 and the EDA General Fund Budget in the amount of $499,000. Motion of other as determined by the EDA. REFERENCE AND BACKGROUND Staff is asking the EDA to consider Resolution 2023-08 authorizing the 2024 HRA Special Benefit property tax levy in the amount of $451,000 and the EDA General Fund Budget (revenue and expenditures) in the amount of $499,000. The proposed tax levy increase is $49,000 or 12.23 percent over the 2023 certified levy amount of $402,000. The budget schedule allows the HRA Special Benefit property tax levy to be certified at the same time as the City levy, in September 2023. Final 2024 levy determination is scheduled to be made by the City Council in early December 2023. Setting the annual levy is a policy decision for the EDA. The proposed 2024 EDA General Fund budget relies on the maximum allowed property tax levy as well as an estimated $42,000 in interest earnings from invested funds. It also includes a transfer of $6,000 from the City General Fund to cover the meeting stipends paid to EDA board members. Unspent EDA funds in a specific budget year are placed in the EDA General Fund and are available for various EDA goals as needed. In the table below, the amount of the maximum allowed property tax levy along with the EDA's actual certified levy is shown over a timeframe that spans 2016 (when the HRA levy began) to 2024. The table also shows the City's projected 2024 taxable market value. The City's total taxable property valuation increased by $267,011,800 (+12.3%) over the previous year. The maximum 2024 allowed HRA levy is 0.000185 of the property valuation which equals $451,000. EDA Agenda: 08/09/23 Year Taxable Mkt. Value* Allowed Levy by Statute Actual Levy 2024 $2,440,585,300 $451,000 $????? 2023 $2,173,573,500 $402,000 $402,000 2022 $2,100,005,500 $388,000 $388,000 2021 $1,980,148,000 $366,300 $366,300 2020 $1,923,814,900 $355,000 $355,000 2019 $1,883,565,600 $348,000 $348,000 2018 $1,748,750,200 $323,000 $323,000 2017 $1,631,446,700 $302,000 $280,000 2016 $1,513,570,400 $280,000 $280,000 *Taxable market value is for the calendar year prior to the levy year, e.g., 2024 levy is based on 2023 Taxable Market Value amount The proposed 2024 levy is calculated by multiplying the allowed percentage rate of 0.000185 by the municipal taxable market value (.000185 x $2,440,585,300 = $451,508 and round down to $451,000) The 2024 EDA General Fund Expenditures Budget proposal is attached for reference. The budget line items include all operating expenditures, such as staff salaries and benefits, training, and travel, overhead (electricity, computer maintenance, postage), legal fees, financial advisor fees, marketing, and various memberships such as the Wright County Economic Development Partnership and Economic Development Association of Minnesota. Expenditures for professional services, including the Broadway parking lot agreement, economic development services, and marketing, were increased to reflect recent and anticipated activity The EDA's largest single budget category each year is the land acquisition -redevelopment activities line item and is usually a flex and fill figure (the last line filled) based on the levy amount for a balanced budget. The 2024 Redevelopment activities line item is proposed to be $155,613. However, the final number will fluctuate as concrete costs (for example, 2024 health insurance premium rates) become known from now through December. It is this line item, along with the EDA General Fund and pooled TIF resources, that has supported property acquisitions and redevelopment activities of the EDA. Budget Impact: The cost of approving the 2024 HRA property tax levy and the EDA General Fund Budget is minimal. II. Staff Workload Impact: City staff involved in the levy and budget discussions included the City Administrator, Finance Director, Community Development Director, and Economic Development Manager. III. Comprehensive Plan Impact: Economic Development Goals outlined in the Comprehensive EDA Agenda: 08/09/23 Plan 2040 + include the following items of focus. Goal 1: Business Attraction and Retention Goal 2: Tax Base Expansion Goal 3: Downtown Vitality Goal 4: Redevelopment and Reinvestment Goal 5: Life Cycle Housing Goal 6: Workforce Development Goal 7: Promotion and Partnerships Goal 8: Opportunities Areas STAFF RECOMMENDATION Staff recommends that the EDA authorize the proposed 2024 HRA Property Tax Levy and the EDA General Fund Budget. The recommendation is based on current costs, historical budget trendlines, the Comprehensive Plan goals and the EDA's 2022-2024 Workplan. The EDA's overall mission is to support and facilitate economic development and redevelopment and housing activities that expand the tax base, increase employment opportunities, and create a vibrant economy. Ultimate levy and budget determination is a policy decision. SUPPORTING DATA a. EDA Resolution 2023-08 b. Preliminary 2024 EDA General Fund Expenditures Budget Proposal c. Preliminary 2024 EDA General Fund Revenue Budget Proposal d. Qtr. #2 2023 - EDA Financial Statements — Expenditures -Revenues and Balance Sheet e. 2022-2024 EDA Workplan Goals and Objectives CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2023-08 AUTHORIZING THE LEVY OF A SPECIAL BENEFIT TAX PURSUANT TO MINNESOTA STATUTES, SECTION 469.033, SUBDIVISION 6 AND APPROVING A BUDGET FOR FISCAL YEAR 2024 WHEREAS, pursuant to Minnesota Statutes, Sections 469.090 through 469.1081, as amended, the City Council (the "City Council") of the City of Monticello, Minnesota (the "City") previously created the City of Monticello Economic Development Authority (the "Authority"); and WHEREAS, the Authority is authorized to exercise all powers and duties of a housing and redevelopment authority under the provisions of Minnesota Statutes, Sections 469.001 to 469.047 (the "HRA Act"); and WHEREAS, Section 469.033, subd. 6, of the HRA Act permits the Authority to levy and collect a special benefit tax of up to 0.0185 percent of taxable market value in the City, levied upon all taxable real property within the City, to finance the Authority's economic development and redevelopment activities; and WHEREAS, the special benefit tax levy authorized by Section 469.033, subd. 6 of the HRA Act is separate and distinct from the City's levy and is not subject to the City's levy limits; and WHEREAS, the Authority desires to levy a special benefit tax in the amount of 0.0185 percent of taxable market value in the City; and WHEREAS, the Authority has determined to adopt a budget for fiscal year 2024 that provides for the levy of the special benefit tax in the amount of 0.0185 percent of taxable market value of property in the City, to be used for the Authority's economic development and redevelopment activities. NOW, THEREFORE, Be It Resolved by the Board of Commissioners ("Board") of the City of Monticello Economic Development Authority as follows: The Board hereby approves a budget of $499,000 (excluding TIF district and loan activity) for fiscal year 2024, including the levy of a special benefit tax in an amount not to exceed $451,000, subject to approval of such budget by the City Council prior to September 30, 2023. 2. Staff of the Authority is hereby authorized and directed to file the budget with the City in accordance with Minnesota Statutes, Section 469.033, Subdivision 6, and request that the City Council consider approval of the special benefits tax levy. MN190\101\814298.v1 There is hereby levied a special benefit tax pursuant to Minnesota Statutes, Section 469.033, Subdivision 6, in an amount not to exceed $451,000 with respect to taxes payable in calendar year 2024, contingent upon the approval of the City Council. 4. Staff of the Authority are hereby authorized and directed to take such other actions as are necessary to levy and certify such levy upon approval by the City Council. APPROVED by the Board of Commissioners of the City of Monticello Economic Development Authority this 9th day of August, 2023. President Attest: Executive Director MN190\101\814298.v1 2 2024 Budget Draft EXPENDITURES EDA FUND 2021 2022 2023 2023 2024 % EDA General EDA General ACTUAL ACTUAL BUDGET THRU6/30 BUDGET CHANGE 213-41911-431990 MISC PROFESSIONAL SERVICES $ 3,170 $ 130,973 $ $ $ 213-46301-410100 SALARIES, FULL TIME - REG 89,400 117,379 130,518 62,146 135,687 3.96% 213-46301-410200 SALARIES, FULL TIME - OT 6 609 - 497 --- 213-46301-410300 SALARIES, PART TIME - REG 3,230 6,909 7,125 5,355 7,200 1.05% 213-46301-411100 SEVERANCE PAY 631 - - - 213-46301-411110 SEVERANCE BENEFITS (10,621) - - - 213-46301-412100 PERA CONTRIBUTIONS 6,641 8,901 9,789 4,698 10,177 3.96% 213-46301-412200 FICA CONTRIBUTIONS 6,719 9,144 10,530 5,013 10,931 3.81% 213-46301-413100 HEALTH/DENTAL/LIFEINSURAN 15,648 19,400 28,539 10,152 29,190 2.28% 213-46301-413250 HSA CONTRIBUTIONS 3,877 5,468 - 2,887 --- 213-46301-413300 LIFE INSURANCE CONTRIBUTIONS 83 120 60 213-46301-413400 DISABILITY INS CONTRIBUTIONS 513 693 - 368 213-46301-415100 WORKERS COMP INSURANCE 3,206 2,639 3,138 1,400 3,233 3.03% 213-46301-421990 GENERAL OPERATING SUPPLIES 54 374 300 5 400 33.33% 213-46301-430300 PROF SRV - ENGINEERING FEE 228 - 10,500 - 51000 -52.38% 213-46301-430400 PROF SRV - LEGAL FEES 18,894 10,497 20,000 1,093 20,000 0.00% 213-46301-431990 MISC PROFESSIONAL SERVICES 7,769 71,996 31,700 90,725 31,700 0.00% 213-46301-431991 MISC PROFESSIONAL SERVICES - PROPERTY MGMT - - 3,000 (855) 4,000 33.33% 213-46301-431993 MISC PROFESSIONAL SERVICES - ECON DEV SVCS 14,651 74,959 10,900 5,785 18,200 66.97% 213-46301-432100 TELEPHONE STIPEND 780 780 780 195 780 0.00% 213-46301-432150 IT SERVICES 3,002 3,659 3,473 1,737 3,358 -3.31% 213-46301-432200 MAIL & DELIVERY SERVICES 119 76 275 4 275 0.00% 213-46301-433100 TRAVEL/TRAINING EXPENSE 1,803 1,996 1,850 3,500 3,600 94.59% 213-46301-434990 ADVERTISING & MARKETING 501 26,766 37,500 - 45,000 20.009/o 213-46301-435100 LEGAL NOTICE PUBLICATION - 203 650 167 650 0.009/o 213-46301-436100 INSURANCE - LIABILITY/PROPERTY/VEHICLE 1,664 1,668 1,650 962 1,650 0.009/o 213-46301-437100 PROPERTYTAXES 13,682 13,664 - - 213-46301-438100 UTILITIES -GAS/ELECTRICITY 1,171 4,273 750 - 100 -86.67% 213-46301-438200 WATER/SEWER 1,180 2,281 750 (291) 100 -86.67% 213-46301-440100 REPAIR & MTC - BLDG & SYSTEMS 3,203 - 213-46301-440200 REPAIR & MTC - FACILITIES MAINTENANCE - 6,500 1,512 378 2,156 42.59% 213-46301-443300 DUES, MEMBERSHIP & SUBSCRIP 4,996 8,091 6,000 6,336 91000 50.00% 213-46301-461500 REDEVELOPMENT ACTIVITIES - 214,689 127,685 4,500 155,613 21.87% 213-46301-443990 MISCELLANEOUS OTHER EXP 331,498 306,409 1,086 288,242 11000 -7.92% 213-46301-472030 OPERATING TRANSFER OUT - - - --- 213-46601-443990 MISCELLANEOUS OTHER EXP - - - - TOTAL EXPENDITURES $ 527,696 $ 1,051,117 $ 450,000 $ 495,058 $ 499,000 10.89% 2024 Budget Draft REVENUES EDA GENERAL FUND 2021 2022 2023 2023 2024 % ACCOUNT NUMBER REVENUES ACTUAL ACTUAL BUDGET THRU 6/30 BUDGET CHANGE 213-00000-310110 CURRENT AD VALOREM TAXES $ 366,077 $ 386,806 $ 402,000 $ 205,553 $ 451,000 12.2% 213-00000-310210 DELINQUENT AD VALOREM TAXES 1,688 680 - 1,011 - --- 213-00000-310310 MANUFACTURED HOME TAX 688 - - 213-00000-319100 PENALTIES&INT -TAX (26) 805 - 213-00000-334235 STATE GRANT - 375,547 284,123 213-00000-347110 RENTAL OF CITY PROPERTY 23,181 8,700 - - --- 213-00000-362110 INTEREST EARNINGS- INVESTMENTS (16,422) (115,824) 42,000 42,000 0.0% 213-00000-362300 CONTRIBUTIONS 1,250 1,000 - - --- 213-00000-362400 SALE OF PROPERTY 300,000 821,866 213-00000-362900 OTHER MISCELLANEOUS REV 4,100 - - --- 213-00000-392000 OPERATING TRANSFERS IN 2,368 4,900 6,000 6,000 0.0% 213-41911-349655 ENGINEERING - BILLABLE PROJECTS 3,170 130,973 - --- 213-46301-341090 INITIATION/APPLICATION FEES 600 - 213-46301-362200 TIF INTRAFUND LOAN REPAYMENT- PRIN - - 213-46301-362220 TIF INTRAFUND LOAN REPAYMENT- INT 7,803 2,286 TOTAL REVENUES $ 694,476 $ 1,617,739 $ 450,000 $ 490,687 $ 499,000 10.9% CITY OF MONTICELLO Schedule of Assets, Liabilities, Deferred Inflows of Resources, and Fund Balances Economic Development Authority & Small Cities Development Program June 30, 2023 - Unaudited TIF 6 (d) TIF 19 TIF 20 (d) TIF 22 TIF 24 TIF 29 TIF 30 TIF 34 (d) TIF 40 TIF 41 TIF 43 GAAP Total Total EDA General GMEF TIF Future Ralndance MS Shores Prairie West Downtown St. Henry's Front Porch CMHP Interchange Briggs UMC Headwaters Reconciliation EDA SCDP ASSETS Cash and investments $ 2,770,057 $ 1,049,743 $ - $ 18,001 $ 18,875 $ 104,172 $ 585,090 $ 27,915 $ 22,104 $ 87,288 $ 77,370 $ 41,516 $ 31,432 $ - $ - $ 4,833,563 $ 779,295 Receivables Delinquent taxes 1,722 - - - - - 2,687 - - - - - - - - 4,409 - Accounts 8,876 - - - - - - - - - - - - - - 8,876 - Intrafundreceivable 124,149 - - 731,000 - - - - - - - - - - (855,149) - - Notes receivable 127,246 196,267 - - - - - - - - - - - - - 323,513 120,655 Land held for resale 1,994,036 163,200 2,157,236 TOTAL ASSETS $ 5,026,086 $ 1,246,010 $ $ 749,001 $ 18,875 $ 104,172 $ 750,977 $ 27,915 $ 22,104 $ 87,288 $ 77,370 $ 41,516 $ 31,432 $ $ (855,149) $ 7,327,597 $ 899,950 LIABILITIES Accounts and contracts payable $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 127,246 $ - $ 127,246 $ - Intrafundpayable - - 45,363 - - - - - - 78,500 - - 731,286 - (855,149) - - Unearned revenue - - - - - - 163,200 - - - - - - - (163,200) - - Escrow deposits 5,762 5,762 Total liabilities 5,762 45,363 163,200 78,5N 731,286 IY7,246 (1,018,349) 133,008 DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property lazes 1,722 2,687 4,409 FUND BALANCES Restricted - 1,246,010 - 749,001 18,875 104,172 585,090 27,915 22,104 8,788 77,370 41,516 (699,854) (127,246) 163,200 2,216,941 899,950 Assigned Economic Development 4,818,802 - (45,363) - - - - - - - - - - - - 4,773,239 - Fa9ade Grant 200,000 200,000 Total fund balance 5,018,602 1,248,010 (45,363) 749,001 18,875 104,172 585,090 27,915 22,104 8,788 77,370 41,516 (699,854) (127,246) 163,200 7,190,180 899,950 TOTAL LIABILITIES, AND FUND BALANCES $ 5,026,086 $ 1,246,010 $ $ 749,001 $ 18,875 $ 104,172 $ 750,977 $ 27,915 $ 22,104 $ 87,288 $ 77,370 $ 41,516 $ 31,432 $ $ (855,149) $ 7,327,597 $ 899,950 Required or Actual Decon'ficetlon Date 12/9/2013 12/312023 12/10/2018 12/312024 12/312028 12/312029 12/31/2029 12/312022 12/31/2045 12/31/1030 TIF District Type Redevelopment Housing Redevelopment Housirgb Housing Housing Housing Redevelopment Housing Economic Housing (d) = d-lb.d Redevelopment Development CITY OF MONTICELLO Schedule of Revenues, Expenditures and Other Financing Sources (Uses) Economic Development Authority & Small Cities Development Program For the Period Ended June 30, 2023 - Unaudited TIF 6(d) TIF 19 TIF 20 (it) TIF 22 TIF 24 TIF 29 TIF 30 TIF 34 (it) TIF 40 TIF 41 TIF 43 GAAP Total Total EDA General GMEF TIF Future Raindance MS Shores Praine West Downtown St. Henry's Front Porch CMHP Interchange Briggs UMC Headwaters Reconciliation EDA SCDP Rev Property taxes $ 206,564 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 206,564 $ - Taxincrements - - - - 18,875 - 164,206 27,915 22,104 8,788 - 35.010 32,549 - - 299,447 - Intergovemmental 284,123 - - - - - - - - - - - - - - 284,123 - Intersston loans 1,845 1,845 1,741 Total revenues 490,687 1,845 18,875 164,206 27,915 22,104 8,788 35.010 32,549 791,979 1,741 ExpendiNres: Current Salary and wages 62,742 - - - - - - - - - - - - - - 62,742 - ganefits 21,844 - - - - - - - - - - - - - - 21,844 - Supplies 5 - - - - - - - - - - - - - - 5 - Professionalservices -legal 1,093 - - - - - - - - - - - - - - 1,093 - Professionalservices-other 95,659 - - - - - - - - - - - 923 - - 96.582 - LPV Insurance 962 - - - - - - - - - - - - - - 962 Legal and general publications 167 - - - - - - - - - - - 194 - - 361 - Dues and membership 6,336 - - - - - - - - - - - - - - 6,336 - Utilities (96) - - - - - - - - - - - - - - (96) IT services 1,737 - - - - - - - - - - - - - - 1,737 - Travel and conferences 3,173 - - - - - - - - - - - - - - 3,173 - Otherexpenditures 293,120 293,120 Total expenditures 486,742 1,117 487,859 Net change in fund balances 3,945 1,845 - - 18,875 - 154,206 27,915 22,104 8,788 - 35,010 31,432 - - 304,120 1,741 Fund balance at beginning of year 5,014,657 1,244,165 (45,363) 749,001 - 104,172 430,884 - - - 77,370 6,506 (731,286) (127,246) 163,200 6,886,060 898,209 Fund balance at end of year $ 5,018,602 $ 1,246,010 $ (45,363) $ 749,001 $ 18,875 $ 104,172 $ 585,090 $ 27,915 $ 22,104 $ 8,788 $ 77,370 $ 41,516 $ (699,854) $ (127,246) $ 163,200 $ 7,190,180 $ 899,950 Required o,Achual Decenification Data 12x92013 12312023 12/102018 12312024 12/31/2026 12/312029 12/312029 12/312022 12/31/2045 12/312030 TIF District Type Redevelopment Housing Redevelopment Housing& Housing Housing Housing Redevelopment Housing Economic Houslog (d) = d-6.d Redevelopment Development Monticello MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY 2022-2024 ECONOMIC DEVELOPMENT WORK PLAN EDA Purpose: The EDA is charged with coordinating and administering the City of Monticello's economic development and redevelopment plans and programs. The EDA is also responsible for housing and housing redevelopment. EDA Work Plan Mission Statement: The EDA's work plan is adopted in support of achieving the goals of the Monticello 2040 + Comprehensive Plan. The EDA will be proactive by developing and undertaking actions for achievement of the Comprehensive Plan's Economic Development goals and will be reactive in responding to economic development opportunities as they arise in the most timely and effective manner possible. The EDA shall utilize the Economic Development Implementation Chart contained in the Comprehensive Plan as a guiding document creating its 2022-2024 Work Plan. Comprehensive Plan Goals: 1. Business Attraction and Retention 2. Tax Base Expansion 3. Downtown Vitality 4. Redevelopment and Reinvestment 5. Life Cycle Housing 6. Workforce Development 7. Promotion and Partnerships 8. Opportunity Focus Areas 11 Page GOAL #1: BUSINESS ATTRACTION AND RETENTION Policy 1.1. Business and Employment Retention Strategies: 1. Maintain a strong Business Retention and Expansion (BR&E) program to monitor opportunities for continued growth and expansion of businesses as well as the continued relationship development between the City and existing businesses. 2. Identify and support companies that are expanding and adding employees. 3. Identify and promote programs that assist existing companies in expansion and creation of new positions. 4. Assist and support companies in accessing business assistance programs including financing and educational programs. 5. Bring Businesses and Educations Organizations together to create training programs to foster new living wage opportunities. Policy 1.2: Local Business Support Strategies: I . Facilitate relationships with existing businesses on the expansion, redevelopment and improvement of their buildings and facilities. 2. Consider facade rehabilitation programs, small business loans, grants and other tools to encourage property reinvestment and support local businesses. 3. Foster partnerships and maintain networking relationships with the goal of maintaining communication in support of existing businesses. GOAL #2: TAX BASE EXPANSION Policy 2.1: Diversify economic sectors to broaden the base of available living wage employment in the community. Strategies I. Capitalize on the proximity to the I-94 regional transportation facilities, available land and educated and skilled workforce to create opportunities for job growth. 2. Inventory existing industry clusters by attracting similar and complementary businesses. 3. Work with existing business clusters to expand the attraction of supply chain companies. 4. Recognize changing land use patterns for industrial parks, and other or alternative uses such as co -working spaces. Policy 2.2: Maintain a business development and job creation toolbox to assist existing and future businesses. Strategies: Continue discussion on use of tax reimbursement/abatement, including development of criteria/application. 21 Page 2. Identify and communicate new or innovative state and federal programs or grants which could be leveraged to support business development. 3. Proactively support small business start-up efforts through programs, collaborative efforts and various tools available for small businesses. Policy 2.3. Work collaboratively with partners to foster the attraction of new businesses. Strategies: 1. Continue to support the IEDC interactions within the Wright County Workforce Pathways efforts in addressing workforce needs and training. 2. Consider IEDC recommendations and be prepared to be a partner in potential solutions based on WCWFP findings. 3. Partner with Wright County EDA on infrastructure and development project funding as warranted. GOAL #3: DOWNTOWN VITALITY Policy 3.1: Implement the recommendations of the Downtown Small Area Plan. Strategies: 1. Support and advocate for improvements to the downtown as envisioned in the Small Area Plan and Walnut Street Corridor Plan. 2. Develop and support the appropriate policies, programs, and incentives that enable the type of development described in the Plan. 3. Continue to build a funding base for use in property acquisition and redevelopment efforts in targeted areas. 4. Implement a facade improvement program for desired revitalization areas. 5. Continue to meet with downtown property owners with the goal of relationship building in informal group settings (Downtown Rounds) or individually and to understand their concerns with traffic, parking, land use and possible reinvestment in their property as well as willingness to sell, partner, desired price, etc. 6. Encourage continued incorporation of arts as an economic development tool for Downtown Monticello and the community at -large. 7. Support opportunities for park and pathway development as consistent with the Downtown Small Area Plan. 8. Encourage the redesign of the pathway connection under the MN-TH #25 bridge to incorporate safety elements and improved lighting. 9. Ensure that greenway and pedestrian/cycle connections are considered within the downtown and from the downtown to other areas within the community. 10. Support park improvements in the downtown area. 31 Page GOAL #4: REDEVELOPMENT & REINVESTMENT Policy 4.1: Redevelopment: Continue to support redevelopment efforts for publicly owned properties in Block 52, Block 34 and other EDA owned sites. Strategies: 1. Work collaboratively with the selected developer to implement an agreed upon Block 52 redevelopment proposal utilizing Small Area Plan vision and principals. 2. Advocate for adequate City Council support for related Block 52 infrastructure components that are impacted by redevelopment proposals. 3. Advocate for the best designs and efficient traffic circulation related to the Walnut Street - River Street connection in support of Block 52 redevelopment. 4. Remain open to and analyze strategic opportunities for redevelopment throughout the community. 5. Proactively market Block 34, the Cedar/Broadway site, 4th Street site, West River Street parcel and the West 7th Street land tract to the commercial and residential development community. GOAL #5: LIFE -CYCLE HOUSING Policy 5.1: Actively promote and seek opportunities for the development of a wide variety of housing types, styles and price points as a mechanism to support and attract employment. Strategies: 1. Develop revised policy statements for housing which address the identified 2020 Housing Study needs. 2. Continue to market workforce housing development on EDA owned land along East 4th Street and Outlot A, Country Club Manor, or at other suitable sites in the City, including the Downtown. 3. Support efforts by private and non-profit entities to develop affordable housing projects utilizing state and federal programs. 4. Examine the use and application of available housing TIF dollars per the 2016 TIF Management Plan and the adopted Policy Statements for Available TIF Funds. 5. Continue to periodically examine housing stock for aging or blighted properties and research development of programs for redevelopment and/or revitalization of existing housing. 6. Market the availability of incentives/subsidies available for development of housing. GOAL #6: WORKFORCE DEVELOPMENT Policy 6.1. Diversified and Skilled Workforce Strategies: 1. Support interactions with local organizations to address workforce needs and training. 41 Page 2. Partner with Wright County Workforce Pathways (WCWFP) on solutions for workforce needs and training. 3. Promote Central Minnesota Jobs and Training Services as an option to Community College or university for students seeking alternative careers in the trades, manufacturing, and similar sectors. 4. Support the development of a plan to market living wage employment opportunities. GOAL #7: PROMOTION & PARTNERSHIPS Policy 7.1: Create and maintain a comprehensive Marketing & Communication Strategy for priority sectors and locations. Strategies: 1. Identify community partners that can be regularly engaged and advised on economic development activities and events. 2. Engage with partners in the development of strategic marketing plan, including creation of an overall economic development brand, for various focus audiences and sectors of development; residential, commercial and industrial and redevelopment. 3. Incorporate the marketing of EDA incentive programs in a more proactive manner, both within the community and beyond, a. Present existing and new incentive programs to smaller community groups, local banks, realtors, and local businesses either in an informal group session or a formal roundtable format. b. Develop and communicate a "complete" development package program which provides support and assistance to prospects and developers from inquiry to construction. 4. Market industrial development at the Monticello Business Center (Otter Creek Business Park) to a broad variety of prospects as guided by the Comprehensive Plan. a. Focus on prospects which serve or rely on the St. Cloud and Twin Cities markets. b. Focus on supply chain prospects. 5. In collaboration with the IEDC, communicate with current business and industry in support of Business Retention & Expansion. a. Engage in informal business and industry small group meetings and explore potential format of helpful formal round tables meetings. b. Work with the Monticello Times to do a business spotlight or profile article two times per year. c. Leverage the networks of existing commercial and industrial entities currently doing business in and around Monticello. Policy 7.2: Engage as a partner in local and regional planning and development opportunities. Strategies: 1. Monitor the regional planning efforts of the Central Mississippi River Regional Planning Partnership (CMRRPP) and engage with feedback as requested. 51 Page 2. Consider funding and/or completing studies that provide policy and strategy framework for desired land uses/or projects in the downtown and for other programs. 3. Monitor commuter rail development in and around the Twin Cities metro region for potential benefits and opportunities to serve Monticello. GOAL #8. OPPORTUNITY FOCUS AREAS Policy 8.1: Opportunity Focus Areas 1. Maintain open lines of communication with property and business owners to understand their long-term development objectives. 2. Consider strategies, loans, grants and other financing methods to boost reinvestment and improvements. 3. Encourage public infrastructure investment in these areas in an effort to support private investment. Policy 8.2: Support community quality -of -life initiatives which act as economic development tools. Strategies: 1. Encourage and support coordinated planning and development of parks, trails in or near business districts. 2. Increase the visibility of the intersection of all amenities including parks and trails with the economic hubs of the city. 3. Support the development of Bertram Chain of Lakes Regional Park, including community Connections. Appendix: Monticello 2040 Vision + Plan, Economic Development and Implementation 61 Page Economic Development Authority Agenda: 08/09/2023 5A. Economic Development Manager's Report Prepared by: Meeting Date: ❑x Other Business Economic Development Manager 08/09/2023 Reviewed by: Approved by: N/A Economic Development Manager REFERENCE AND BACKGROUND 1. EDA received a $1,000 grant from Minnesota Business Finance Corporation (MBFC) to defray the costs associated with completing the Hospitality and Hotel Study Update. See Exhibit A showing the check presentation to City staff. 2. Project Update: Various projects in progress or being concepted are summarized in Exhibit B. Recent photos of the Wiha Tools facility under construction are included as Exhibit C. 3. Prospect List Update: See attached Exhibit D. ®... •i T ;;; Lry Premi Home My Network Jobs Messaging Notifications Me- For Business free Minnesota Business Finance Corporation (MBFC) 753 followers ciFollow View full page Terry Stein IikFs ibis Minnesota Business Finance Corporation (MBFC) 753 followers + Follow 1d-® This week MBFC presented a grant to the City of Monticello EDA! Joshua Laffen, VP of Business Development of MBFC, presented the check to Jim Thares, Economic Development Manager, for the EDA. MBFC supports programs that allow communities to thrive and make investments in economic development initiatives that benefit the region! Contact MBFC for more details about SBA 504 financing, economic development grants, and our one -of -a -kind "VetLoan Advantage Rebates". #sba504 #mbfc #economicdevelopment #smallbusiness 0 Marie Pfiipsen and 9 others 1 repost Reactions A Oki J O vok oak 111&0 O GI �10 0 +2 0 Like Q Comment F4 Repost Send IEDC Agenda: 08/09/23 5A. Project Update Block 52 Mixed Use Commercial -Residential Redevelopment: Progress continues on the construction of the 5 -story mixed use commercial -residential development. Finish work is beginning on the interior of the building. The parking lot which has been used as a staging and materials storage area will be excavated to the engineered grade and paved in the next five to six weeks as well. Overall, the pace of the project is moving along faster than was projected. It is possible that the project will be ready to open in early 2024 versus the previously projected date of May 2024. On the building lease up front, the developer has informed staff that discussions have been occurring with prospective commercial tenants. The developer is hoping to entice a restaurant to locate on the north end of the commercial space (facing the park) with an outside patio. The Business Subsidy component of the Purchase and TIF Development Contract requires 45 new FTE jobs to be created by the development (by the new businesses that are located in the building). Wiha Tools Warehouse Facility Development: Construction of Wiha Tools' new 74,000 square foot assembly and warehouse facility development is also moving rapidly along. The building walls and roof are complete. Work is occurring on the inside for plumbing and utility connects. Floors preparation is also occurring. The projected completion date is late December 2023. The new facility will house Wiha Tools' assembly, warehouse, distribution, sales, and administrative functions. Wiha received $880,000 in funding assistance from the MIF and JCF programs for equipment and building (MN -DEED) as well as City -EDA TIF assistance to offset land acquisition and site prep costs. Under the Business Subsidy component of the TIF Development Agreement, Wiha is required to create 59 FTE new jobs over the next 5 years. The company is also planning to complete a second phase addition of 79,000 square feet in the future at the 12 -acre 7t" Street East site. An additional 21 FTE jobs are expected to be created in the phase 2 project, increasing the total workforce at the facility to approximately 142 FTEs +/-. Recent project photos of the construction progress are included in the packet. Scooters Coffee Shop: Scooters Coffee Shop is about three weeks away from opening in Monticello, near the Pancho Villa Restaurant (on the east side of Cub Foods). The Scooters building is approximately 845 square feet in size. IEDC Agenda: 08/09/23 Deephaven Third - West Metro Ophthalmology: A 10,000 square foot building is under construction at the southeast corner of Cedar and Chelsea Road for a new ophthalmology clinic. The building has room for a second tenant as the eye clinic will occupy about 60 to 65 percent of the space. West Metro is relocating from 504 Pine Street (adjacent to Papa Murphy's Pizza). Sunny Days Therapy — 7t" Street East: Construction of the Sunny Day's Therapy occupational and speech therapy facility is progressing and in the final phase. City of Monticello building inspections staff estimate the progress of completion at approximately 88 percent. Headwaters Villa Twinhomes: The 60 -unit twinhome housing development project for ages 55 + is well underway at the former 16.70 -acre EDA parcel along 7 t Street West. Currently, excavating and grading for infrastructure (utilities and roads) is occurring. Specific pad sites are also being prepped. Headwater's plans to complete the placement and finish of 20 units (the units are modular fabricated at the AVA facility in nearby Albertville) in August and early. The balance of the 50 units would be placed and finished throughout the remainder of 2023 and early 2024. Headwaters Apartments: Construction of the 102 -unit apartment building for ages 55 + is expected to begin in the fall of 2023 and progress through the entirety of 2024. The building has ground level covered parking with four floors of rental units above the parking structure. Attached are illustrations from the plan set approval packet showing the building. Monticello Lakes Apartments: A two building, 200 -unit apartment development at a parcel on the west side of Edmunson Ave NE in the Pointes At Cedar (PAC) Master Plan Planned Community District is now under construction. This is a market rate housing development. The PAC water amenity features and proximity to restaurants and shopping are expected to be a strong leasing draw for this development. 2 IEDC Agenda: 08/09/23 Take 5 Car Wash: The new car wash facility located at 4008 Deegan Court is now open for business. This is the second high-speed car wash along MN-TH #25 to open in the past 15 months. Other Development Activity: Additional Multi -Family Residential Developments are being proposed in concept format for sites in the City. The low MF vacancy rate and the current high interest rates are impacting availability and affordability dynamics of the single-family home market, thereby increasing the demand for multi -family units. Additional commercial development is being proposed at various sites in Monticello. Additional industrial development proposals are also being considered for sites in Monticello. This is very preliminary and may take up to 15 to 20 months before final decisions are made for these proposals. w 21- p"m , All, V - , ASNY M 0" IF AVOW NNW A.,. CIA Pit Aw AMU '1111pi SXNN�, ANUCh Av V/1110 k'Z,4AV i fq V/� ��. � � (��jl`Iy(� �,��h � 1�1',��fm.�,rR b.'�yt��' 1 %;' ,ii f� . 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Lab New Construction 8/16/2019 Project Jaguar Office New Construction 1/20/2020 Project Panda v3 Service -Child Care New Construction 12/23/20- 6- Project TDBBST Industrial New Construction 30-22 $1,400,000 Active Search 22,000 sq. ft. 2/16/2021 Project Cold Industrial -Warehouse -Di New Construction 10,500 sq. ft. 0 stri $4,100,000 3/19/2021 Project Orion Warehouse-Distributi on New Construction 2/28/2022 Project Emma II Light Ind -Assembly New Construction 6/16/2021 Project UBAA Child Care Services New Construction or Exist 6/30/2021 Project Ecosphere Industrial Tech Mfg. New Construction 07/27/2023 Project BA710 Lt Assem-Distribute New Construction 6,500 to 7,000 sq. ft 0 10 $650,000 Building -Facility Retained lobs New lobs Total Investment Project Status New Construction 42,000 sq. ft. 40 $3,600,000 Active Search 2/7/2022 Project Shepherd III 20,000 sq. ft. +/- 42 10 to $4,500,000 On Hold Project Cougar Precision Machining -Mfg. 20 38 $4,700,000 Active Search 12,000 sq. ft. 10 $1,200,000 Concept Stage ? ? ? ? Concept stage 20,000 sq. ft. 0 20+/- $1,400,000 Active Search 22,000 sq. ft. 22 4 $2,700,000 Active Search 10,500 sq. ft. 0 21 $4,100,000 Active Search 10,000 to 15,000 sq. 0 9 $1,850,000 Concept Stage ft. 80,000 sq. ft. 0 21 $12,000,000 Concept Stage 832,500 sq. ft. 0 500 $125,000,000 Active Search 20,OOOsq. ff. 0 4 $1,350,000 Active Search 5,000 sq. ft. 0 14 to 19 $2,000,000 Act Search 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 Technology Servicer 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 4/28/2022 Project Cougar Precision Machining -Mfg. New Construction 35,000 to 45,000 sq. ft. 38 $4,700,000 Active Search PROSPECT LIST 07/27/2023 Date of Contact Company Name Business Category Project Description Building -Facility Retained lobs New lobs Total Investment Project Status 8/11/2022 Project Sing Precision Machining New Construction 400,000 sq. ft. 0 500 $90,000,000 Active Search 10/28/2022 ProjectlAG Mfg. New Construction 300,OOOsq. 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 DC3 Lodging Service New Construction ? ? ? $9,500,000 to $12,500,000 Active Search 5/30/2023 Project Flower -M &M Commercial Concept Expansion ? ? ? ? Concept 6/9/2023 Project Pez Mfg New Construction 6,000 to 8,500 sq. ft. 12 2 $1.300,000 Active Search / Project V Mfg New Construction 150,000 + sq. ft. ? $16,000,000 Active Search Contacts: M