IDC Agenda 05-18-1995AGERTDA
MONTICELLO INDUSTP.IAL DEVELOPC",ENT COMMITTEE
Thursday, May 18, 1995 - 7:00 a.m.
City Hall
MEMBERS: Chairperson Jahn McVay, Vice Chairperson Kevin Daty,
Treasurer P.on Hoglund, Shelley Johnson, Arve Grimsmo, Don
Smith, Jay Morrell, Ken Maus, Harvey Kendall, M~rrlyn
Seefeldt, Steve Lemme, Tam Lindquist, Bill Tapper, Jim
Fleming, and Cauncilmember Tom Perrault.
STAFF: Ollie Koropchak.
1. CALL TO ORDER.
2. CONSIDERATION TO APPROVE THE MARCH 1E, 1995 HRA MINUTES.
3. CONSIDERATION TO HEAR AND ACCEPT THE MONTHLY IDC FINANCIAL
P.EFORT .
4. CON
a}
b)
c)
d)
e)
BRE
a)
b)
SIDERATION OF PROSPECT UPDATES:
Bonnie Crcley
Nancy Asp
Quality Welding/Ragen Corporation
Larry Saridvig
130,000 sq ft facility
P.EFORTS
Standard Iran & Wireworks - Shelley Johnson
Decorative Services - Bill Tapper
c ) FSI - Ken Maus
d) Fay-Mar Metal Fabricators
e) Midwest Graphics, Inc.
f) Liberty Savings
June Reports: Bondhus Corporation, Arve Grimsmo: Tire
Equipment Service, Bill Tapper; Haglund Transportation, Jim
Fleming.
5. CONSIDERATION OF THE EDA YEAR-END FINANCIAL REPOP.TS.
6. CONSIDERATION OF FEEDBACK FOR BRE BREAKFAST EVALUATION.
7. CONSIDERATION TO DISCUSS COMPREHENSIVE PLAN UPDATE MEETING OF
MAY 15.
8. CONSIDERATION OF OTHER BUSINESS:
a) Confirmation of IDC Banquet Guest Speaker (Donation)
b) Economic Development Partnership of Wright County
c) Proposed 1995 IDC Budget.
9 . OTHER BUSINESS
a) Chamber A9eeting, today, noon, American Legion Club.
Program: Community Updates
10. ADJOURNMENT.
MINUTES
MONTICELLO INDUSTRIAL DEVELOPMENT COMMITTEE
Thursday, March 16, 1995 - 7:00 a.m.
City Hall
MEMBERS PRESENT: Vice President Kevin Doty, Treasurer Ron
Hoglund, Shelley Johnson, Don Smith, Jay
Morrell, Ken Maus, Harvey Kendall, Merrlyn
Seefeldt, Steve Lemme, Bill Tapper, Jim
Fleming, and Councilmember Tom Perrault.
MEMBERS ABSENT: John McVay, Arve Grimsmo, and Tom Lindquist.
STAFF PRESENT: Ollie Koropchak.
1. CALL__TO ORDER.
Vice President Kevin Doty called the IDC meeting to order at
?:00 a.m.
2 . CONSID_ERATION__TO_ APPROVE THE_ NOVEMBER 17 AND DECEMBER 15 ,
1994, AND THE FEBRUARY 16 , 1995 , IDCry MINUTES . _ ..__-~ --
Ron Hoglund made a motion to approve the November 17 and
December 15, 1994, and February 16, 1995, IDC minutes. Harvey
Kendall seconded the motion and with no corrections or
additions, the minutes were approved as written.
3. CONSIDERATION TO HEAR AND ACCEPT THE MONTHLY IDC FINANCIAL
REPORT . ---~_____._,_~_ ~..
Treasurer Hoglund reported a balance of $3,895.97 at First
Bank and a balance of $8,278.10 at Marquette Bank for a total
monthly balance of $12,174.07. The IDC Executive Committee
has not met with Administrator Wolfsteller regarding the 1994
salary/benefits of $14,938.38. Ken Maus made a motion to
accept the monthly IDC financial report as given. Steve-Lemme
seconded the motion and with no corrections or additions, the
financial report was accepted and filed.
4. CONSIDERATION OF PROSPECT_ UPDATES:
a) 150,000 sq ft distribution center - See attached letter.
Upon the company's visit to Watertown, SD; the Governor
flew-in and the company was told, "You will make money in
SD."
b} Quality Welding, Inc. and Rogers Corporation - City
received an offer from Quality Welding on February 13.
On February 27, the City Council approved a counter-offer
of $61,700 with all additional provisions removed from
the company's offer for Lots 5 and 6, Block 1 , OIP Second
Addition. Counter-offer is valid for two months with no
Page 1
r 1
IDC MINUTES
MARCH 16, 1995
guarantee of TIF. Previously on February 7, the HRA gave
preliminary concept approval for the use of TIF. Pay-as-
you-go land write-down of $40,000 upon receipt of a
letter testing of the TIF "but for" test. Construction
of a 15,000 sq ft metal building, estimated annual taxes
of $16,000 ($144,000}, 10 current jabs and creation of 15
jobs by 1997 at $9.50 to $10.00 wage per hour. Over the
life of the TIF District (11 years), the city would have
an estimated HACA Loss of $30,103 (NPV @ 8~} and the tax
increment is estimated at $48,157 (NPV (~ 80). On March
7, Koropchak contacted Ron Johnson. He had heard no word
from the City and assumed the City was not interested.
They are now looking at Becker.
c} Steinwall, Inc. - Estimated per square foot cost of the
52,000 sq ft block building and five acres of land at
Highway 10 and Hanson Blvd, Coan Rapids, was
approximately $24.00 per sq ft. Other costs are
electrical and plumbing upgrades and relocation expenses.
d) 15,000 sq ft building to lease - will be meeting with
company tomorrow.
e} Polaris Micro Technologies, Inc. - New company, produces
custom-build micro computers for small businesses and
educational institutes. Specialty is training. Looking
for 1,00-2,000 sq ft showroom/office. Wanted information
on available financial incentives and lease space.
f} Innovative Creations, Inc. - Has business plan, no bank
financing. In research and development stage,
manufacturers computer service device which regulates the
MN driver (markets the transportation systems.)
BRE REPORTS:
a) Sunny Fresh Foods - Had heard of a joint-venture with J&B
Meats of St. Michael to construct freezer space.
Contacted Joe Campbell, no joint-venture with J&B;
however, may rent space as with Bell Co, St. Paul.
Potential expansion of office/production in the future.
b) H-Window Company - Steve Burnham, MN Trade Office
reported the H-Window will be represented in the MN booth
at the Home Builders Trade Shaw in Japan. Mr. Lemme
reported the window company is retooling for a new hinge
and casement to be price competitive. Don Smith reported
Erik Fjerdinstad returned to the family-owned window
business.
c) Tire Service Mfg Equipment - See attached.
d) Remmele Engineering Plant 40 Big Lake - At the Quad
County meeting, Curt Jacobsen, new City Administrator of
Big Lake, reported Plant 40 would expand this summer.
e} Standard Iron - See attached newsletter "Update".
Page 2
IDC MINUTES
MARCH 16, 1995
f) Genereux Fine Wood Products - Bill Tapper reported he
would firm up agreements with the bank this week and with
the architect next week. The preliminary SBA application
was accepted and other criteria far the final application
is in progress. The manufacturing addition will be
17,000 to 20,000 sq ft, parking in rear to enhance truck
movement. Fifteen new jobs.
g) M&P Transports - Being landlocked, M&P purchased Lot 2,
Block 3, OIP, for additional storage and parking. This
lot is not contiguous to his existing facility. The City
Ordinance does not address or regulate storage/parking of
parcels which do not contain a primary use. After a
couple of meetings with staff, Jay Morrell was looking
for a recommendation from the IDC. Two options are a
conditional use permit or a temporary permit (5 years).
A similiar situation occurs for Bridge Water Telephone
with the need for off-street parking. The City of Blaine
has some lots designated for storage only which require
surfacing with a classified product and screening. Not
a big tax revenue generator. Although this may make some
sense, Ken Maus had concerns about the future and gave
examples of similiar requests by boat storage and
blacktop firms. The IDC discussed the potential of a
conditional use permit in the I-2 Zone for use and
storage associated with that of an existi~ business
following notification to the existing businesses. Bill
Tapper made a motion encouraging the City Council to
invent an appropriate use to accommodate the unusual reed
cf an existing industrial business. Ken Maus seconded
the motion and with no further discussion, the motion
passed unanimously.
Due to the lack of a labor force, Jay Morrell recommended
a regional effort be made to establish a tie with trade
schools.
5. CONSIDERATION TO REVIEW THE _IDC SUBCOMMITTEES AND $RE
NETWORKING APPOINTMENTS . ~~~ ~~~~ _.__..~_.__..._w,._____._ _,__
Koropchak thanked members for returning the request forms and
reported most individuals were appointed to their first choice
of subcommittee or businesses. If changes are requested,
those would be accommodated.
6. CONSIDERATION TO HOST THE BRE BREAKFAST.
a) Thursday, April 20,~ 1995 µ-~W7:30 a.m. - Koropchak
requested a confirmation for balding the BRE Breakfast at
the Riverwood Metro Business Resort. Last year, 55
Page 3
IDC MINUTES
MARCH 16, 1905
individuals attended the breakfast for a cost of $372.06.
Having checked availability of the resort, the breakfast
will cost $3.44 per person including buffet, tax, and
gratutity or $422 if 50 individuals attend. The BRE
Subcommittee will make final arrangements for the event
keeping in mind its objective of networking and consider
reducing time of introductions.
IDC members were reminded to contact their appointed BRE
business and to encourage them to attend. Koropchak will
mail letters to all businesses announcing tree breakfast
date.
IDC members agreed to hold the event at Riverwood at the
stated price.
7. CONSIDERATION OF~A PROGRESS REPORT OF THE COMPREHENSIVE PLAN
UPDATE . --------_ ,_.___.._. __._.__.__.......______._.---__..._,._....~.._,.._._.._...r__.,__..._____~_._._....._.
Report was mailed with the agenda.
E. OTHER BUSINESS.
a} IDC Banquet Date - Recommended dates were the fourth
Tuesday, October 24, cr the fifth Monday, October 30,
1935. Since five Mondays exist and to avoid a conflict
of interest with school activities, the IDC elected
Monday, October 30, 1995 as the IDC Fundraiser Banquet
date.
Koropchak circulated a copy of Dr. David Landswerk's
resume, a recommendation from Charlie Hermann. Shelley
Johnson reported he has heard Dr Landswerk speak and he's
excellent. The speaking fee is $1,000 which includes
mileage. He requires an overhead and screen.
Recruitment of a speaker and funding far the speaker was
referred to the BRE Subcommittee.
b} Chamber meeting today, noon, at the American Legion.
Speaker is Senator Mark Ourada.
"Chamber Day at the Capital", March 22, 1905. Car pool
leaves City Hall at 6:15 a.m. Ken Maus, Ron Hoglund, Tom
Perrault, and Jim Fleming expressed interest in
attending.
Business Expo date, Sunday, November 12.
c} HRAlCity Council TIF WorkshoplMeeting - Thursday, March
16, 1995, 7:00 p.m. , Gity Hall. IDC members were invited
to attend this workshop. HRA Steve Bubul of Holmes &
Page 4
IDC MINUTES
MARCH 16, 1995
Graven will facilitate the workshop. Jim Fleming and
Shelley Jahnsan, unable to attend, requested copies of
handouts.
d} The City Council appointed Bill Demeules as a
commissioner of the EDA at the recommendation of the EDA.
e) Darrin Lahr, NSP Community Service Representative for the
Northwest Region, is a new member of the Wright County
Partnership. With the potential hiring of part-time
staff person, location of staff person may be at the NSP-
Monticello Administration Building or at the new Wright-
Hennepin Electric Building in Rockford.
Buffalo City Administrator reported Buffalo developed a
new industrial park, 40 acres awned by the City. Lake
Pulaski is now fully served by city sewer and water.
The partnership will complete their annual report and
begin their membership drive.
MTED Representative Wenner repart~d on the
Enterpreuership Program for High School Students and of
Bridgemen's franchise and schlorships.
9 . ADJOURNMEPIT .
The IDC meeting adjourned at 8:15 a.m.
O J~.~ \~~
Ollie Koropchak, IDC Executive Director
Page 5
•
These terms may seem foreign now but over
the next 6 months you will be hearing a lot
more about them.
HEMPAC, the Higher Education
Manufacturing Process Applications
Consortium, is a group of six institutions of
higher education (Alexandria Technical
College, Anoka-Hennepin Technical College,
Pine Technical College, St. Cloud State
University, St. Cloud Technical College,
University of Minnesota-Duluth).
The mission of HEMPAC is twofold.:
1) to introduce and implement advanced
manufacturing techniques at regional firms,
using integrated manufacturing processes and
techniques, and 2) to enhance curricula and
infrastructure at member institutions to
expand capacity for services delivered.
As one of its services, HEMPAC offers a
program called the Manufacturing
Improvement Process (MIP). This process is
based on a process for sustained quality
improvement and waste reduction in
manufacturing companies called Optimized
Operations (02). The 02 process, which was
developed by 3M Company, has been used
successfully in over 260 applications at over
150 plants. In delivering the 02 methodology
outside 3M Company, HEMPAC has added
faculty training, trainer evaluations, student
involvement and curriculum improvement.
HEMPAC's current objective is to deliver
MIP to 36 firms over the next three years.
Standard Iron has been chosen to be one of
these 36 firms.
The MIP workteam consists of the following
people: one faculty member from one of the
HEMPAC institutions with training and/or
experience in 021eadership principles to
serve as a project leader, two company
employees, and two student interns. They
follow these guidelines:
•Gather data and develop operational
definitions of problems.
•Collect data to determine the characteristics
of problems.
•Perform cause and effect analyses and
determine root causes.
•Brainstorm solutions to problems and
determine the advantages and disadvantages.
•Implement optimal solutions and analyze
degrees of success.
•Standardize procedures and instructions to
maintain solutions and protect against errors.
•Repeat from step 2, while handing off
processes and tools to company
representatives.
The objective of this structure is to teach the
MIP process to Standard Iron to keep
continuous improvement going even when
the instructor and interns are gone after 6
months.
The project will be starting in late March to
early April.
v
SPRING IS JUST AROUND THF, CORNIsR!!
HEMPAC, MIP & 02 - By Rich Demeules
Standard Iron Update
From the president's desk
- By Rusty Demeules
Organizations today are driven by the need to
continually improve the delivery of services
to customers who demand the seemingly
impossible. This challenge has prompted. a
close analysis of how Standard Iron will do
business now and in the future.
We need to look at all the objectives and the
processes that support them. This process
does not work perfectly because the needs of
our customers are changing, which constantly
requires us to also change. It would be nice if
we could have a few years without change,
but this is not practical.
For Standard Iron this means a focused effort
to redirect both the intellectual capital and the
physical assets, to more directly serve the
primary business objectives of Standard Iron.
Successful change requires a clear
understanding of the objectives, as well as the
tasks and processes that deliver them. This is
a substantial challenge for any company, but
Standard Iron has the employees, the
financial resources, the technological strength
and the industrial know-how to help our
customers, but we need your help and support
to accomplish this.
r:
Personnel update - By Joanne Forbord
Affirmative Action
Standard Iron has always provided equal
employment opportunities for all applicants
and employees. We are now going a step
further by implementing a formal Affirmative
Action Plan, and. are currently in the process
of submitting a plan to the State of Minnesota
Department of Human Services.
There is not a large population of minority
applicants available in any of the counties
where our 3 facilities are located. As in the
past, we will continue to hire the most
qualified applicants and promote from within
when current employees are the most
qualified candidate.
Certification of our Affirmative Action Plan
will allow the Construction Department to bid
more jobs that are funded with federal or state
monies. This will hopefully increase
Standard Iron's sales in the Construction
Division.
Once the Plan has been approved it will be
available to employees to review if they are
interested.. You will hear more about this
Affirmative Action Plan in the months to
come.
r1 cat has nine li~~es with eight to spare:
You'have but one, so be safe--Reware'.>s
Page 2 Spring
Standard Iron Update
Alexandria facility happenings - By Dawn Carlson
The Quarterly Safety Drawing was won by Scott Thanks to everyone who made this tournament a
Powers. CONGRATULATIONS! fun time and we hope to see you all next year!
The Fishing Tournament was held on Saturday,
February 18th.
The winners of the tournament were:
Grand Prize of $100.00 for the largest fish
(Northern) went to John Fredricks.
2nd place prize of $50.00 went to Randy Keller for
catching the 2nd largest fish (Northern).
The winners for the other categories each received
$30.00 for their large catches-
Largcst Walleye -Lynn Thompson
Welcome'.!
Nancy Krull -Welder
Douglas Madison -Welder
Daniel Bartels -Laborer (Part-ti me)
Jarett Knall -Laborer
Congratulations!!
March 21 Tim Moen 6 Yrs.
Apri126 Lonnie Martin 5 Yrs.
Apri129 Scott Powers 1 Yr.
May 2 Mark Hvezda 1 Yr.
May 14 Dawn Carlson 10 Yrs.
May 29 Darrin Thompson 11 Yrs.
Largest Bass -Don Notch
-- _ _ _ _ _
Largest Sunfish -Jeff Tschida
Largest Crappie - Darrin Braaten ~
We had a great day for fishing, the weather
cooperalcd nicely. There was not a lot of frsh
caught however, there was a lot of good food and
fun times for everyone!
Monticello facility happenings - By Lanie Laumeyer
Congratulations to the new Employee
Committee Members for 1995:
Kelly Ciemia
Jerry Frye
Lanie Laumeyer
David Miller
Char Williamson
A BIG THANKS to our outgoing members
Bill Demeules
Deb Glimmerveen
Mike LeVoir
Our Holiday Party was held on December 3rd at
the Monte Club in Monticello. Everyone really
had a good time and we had a terrific turnout,
124 people showed up to enjoy the good food,
fun company and to celebrate the holiday.
Cupid was seen in the lunch room leaving treats
for everyone on Valentine's
Day. THANK YOU!
We will keep you informed of
upcoming events.
Welcome!!
David Farnum -Welder
Robert Webb -Press Brake Operator
Travis Brambrink -Welder
Richard Lamborg - Wcldcr
Mike Moss -Welder
Mary Scarbrough -Customer Service
Tammy Stortz -Accounting Clerk
Garry Houck -Machine Operator
Jeffrey Reynolds -Machine Operator
Lee MacRae - Shipping/Receiving
Becky Johnson -Welder
Troy O'Brien -Welder
Ryan Hughes -Welder
Steve Bachler -Machine Operator
Daniel Mahoney -Welder
Roger Keskey -Machine Operator
Terry Wassather -Welder
Congratulations'.!
March 7 Lynn MacRae 1 Yr.
March 14 Rusty Dcmculcs 29 Yrs.
March 2C Rik Iverson 5 Yrs.
April l Larry Olson 1 Yr.
April 6 Doug Peterson 1 Yr.
April 11 Char Williamson 1 Yr.
April 18 Roy Veal 1 Yr.
April 19 Sheila Gotvaslce 1 Yr.
Apri126 John Ross 1 Yr.
May 4 Lanie Laumeyer 2 Yrs.
May 21 Brent Curtis 5 Yrs.
May 28 Deb Glimmerveen 4 Yrs.
1995 Page 3
Standard Iron Update
Sauk Centre facility happenings - By Sheryl Fenger
The Quarterly Safety Drawing was won by
James Bronson. CONGRATULATIONS!
Sauk Centre held a Geometric Tolerance Class,
which several people from all three facilities
attended.
The class was given by Alexandria Technical
School. They met two hours a night for four
weeks.
The purpose of this class was to update
employees on Geormetric Tolerance.
Our Holiday Party was held in December at the
River's Edge. We had a good tum-out and
everyone enjoyed themselves.
Page
i
Safety Poster Contest
The winners of the Plant Safety Poster'
Contest arc asfollows: `'
(:rand Prize ~~'ii~ner r~100.00):
Lance`'Peltier -Alexandria
Alexandria's Winners'~ti~ere:'
1 st'Pl ace'($SO.t><l} - Steve Bprchert
2ni~ Place;(~?5.O0) -Lance PcTticr
Alexandria's Ot}rer Entrees:
Stephanie7lescltinc
Dave Larson
:Robert McBride.
Bruce Smith
Chad Wa~ncr
Tom Wagner
Jack Wcstergrc n`
Tom Wicrin~
Roger Zwicg
Mnnticetlo's Winners ~~~ere:
lst`Placc($50.(?~) -Bolo Randall
2nd Place',{$25.Ox) '- Mark Farnum
M~~nficellb's`OtherEntrees:
Tom Shcl~luisr
Roy Veal
Sauk Centre's ~'~'inners ~i~ere:
1st Place'(~50,fX)) -Sheryl Fenger
?nd Place ($25,t)U} - Maurice `:Mallin
~, All;oC theentrecs' were good, g~~cat imaginations?
Thanks to alt ~~ho enured!
4
Welcome!!
Troy Devens -Machine Operator
Steve Hansen -Machine Operator
Craig LeClair -Machine Operator
Jay Boschee - Receptionist/Shipping
Ronald Shann -Welder
Ben Arenkiel -Machine Operator
Brian Loxtercamp -Machine Operator
Van Rone -Machine Operator
Ricky Marthaler -Machine Operator
Jeffrey Georges -Machine Operator
Robert Kramer - Machine Operator
James Irwin -Machine Operator
Brian Loxtercamp -Machine Operator
Congratulations!!
March 5 Ronald Woodard 4 Yrs.
March 7 Todd Skramstad 7 Yrs.
March 7 James Estrem 1 Yr.
March 8 LeRoy Thompson 2 Yrs.
March 18 Roger Schroeder 2 Yrs.
March 19 Delwin Judes 11 Yrs.
March 19 James Weber 22 Yrs.
March 25 Chris Welsch 4 Yrs.
March 26 Michael Poepping 11 Yrs.
March 29 Kip Spencer 5 Yrs.
April 3 Robert Loxtercamp 6 Yrs.
Apri14 Craig Anderson 1 Yr.
April 8 Leon Blonigen 4 Yrs. •
April 23 Maurice Mallin 10 Yrs.
May 8 Michael Motzko 16 Yrs.
May 10 Edward Wallin 19 Yrs.
May 15 Richard Woodard 6 Yrs.
May 16 William Pohlmann 10 Yrs.
May 17 Bruce Hegg 19 Yrs.
May 17 Dwight Tschida 16 Yrs.
May 26 Richard Hujanen 3 Yrs.
The Standard Iron
U P D A T E
Published quarterly by
Standard Iron & Wire Works, Inc.
207 Dundas Road
Monticello, MN 55362
(612)295-8700
Managing Editor: Deb Glimmerveen
Contributors: L.T. "Rusty Demeules,
Joanne Forbord, Lanie Laumeyer, I
Dawn Carlson, Sheryl Fenger, and
Rich Demeules
Spring
• IDC AGENDA
MAY 18, 1995
4. Consideration of Prospect
Updat
e~
_
a) _
.
_
_
Bonnie Croley - Initial call in late March. This Maple
Gro
ve manufacturer of packaging machines is looking to
relocate and
expand. Initially, the company was looking
for a 50
000 s
ft
,
q
expansion or a 100,000 sq ft
relocation/expansion
20
.
to 30 acres. 50 or 125 jobs
within two years. Looking at Rogers, Alb~rtvill~
,
others, 1996 spring construction. Invited to BRE
Breakfa
t
s
. Completing long-range plan, call June 5 to
arrange a visit to Monticello or to existing facility.
The c
b} ompany now looks to keep everything under one-roof.
Nancy Asp -- Located i
n a redevelopment area of Osseo,
this cabinet milling/desi
n c
g
ompany was looking to lease
15,000--20,000 sq ft. 15 jobs with the additio
f
n o
5-10.
Looked at Pfeffer building in early April, not cost
effective
J
,
une 1st occupancy needed. Koropchak met with
the husband!wife o
wners prior to the tour with Mr.
Pfeffer.
c) Quality Welding; P.ogen Corporation - This company has made
a committm~nt witl^
th
.
e City of Maple Lake. 15,000 sq ft,
10 immediate jobs, 10-15 within t
d) wo years.
Larry Sandvig - This one-year old Le Center manufacturer
f
o
rubber base products initially was looking to lease
7
000 s
ft
,
q
. Eight jobs, four additional. With the fast
growth and recent contract with the Nav
th
y,
e company is
receptive to construction of 10,000-15,000 sq ft
production/headquarter facility. Looking at northwest
corridor and Y.ansas City, KA.
e) 130,000 sq ft facility - Peal Estate agent, mac~iinist
f) company, 75 jobs, 5 acres, relocation/expansicn.
Others
BRE REPORTS:
d) Fay-Mar Metal Fabricators - Ron hopes to start moving in
to their new facility along Chel
R
sea
oad around the first
of June. Has option on the adjoining three ac
e} res,
Midwest Graphics, Inc. - Stephen Krenz, owner. This
company has purchased the Fallon Avenue facility marketed
b
Ch
li
y
ar
e Pfeffer. 30 part-time employees, anticipate
30-50 full-ti
me jabs by year-end. Mr. Krenz plans to
host an Open House in about a month. Company brochures
are in tie moil for IDC members
f} .
Liberty Savings - Groundbreaking was held May 8
,
anticipated 16 jobs, occupancy expected September 1.
~~
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
GREATER MONI'ICELLO ENTERPRISE FUND (GMEF)
Statement of Revenues, Expenditures and Changes in Fund BAlance
For the Year Ended December 31, 1994
REVENUES
Appropriations -
1994 Liquor Fund
1994 UDAG
Payback Note - Mullet' TY~eatre
Interest Income - Ntit~G
Interest Income - In~t~stment (est,)
Loan Fees
Miscellaneous
TOTAL REVENUES
EXPENDITURES
Legal Fees
Service Fees
Int. Adjustment - Nct~g
TOTAL EXPENDITURES
~ Excess of Revenues Ove+t• Experdjitt'ur'es
FUND BALANCE - Beginning of Year
FUND BALANCE - End of Ye~t;w
~0~
~0=
$ 50 , 000.0'0
$ 18,493.63
$ 2,948.00
$ 1,125.00
7,741.53
$ 540.00
~ 140.00
~~,,... 0
_ ,.. ~g0 00
$ 73,b61.53
636 61`408_
$709,675.61
c
•
'~
•
( MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
GREATER MONTICELLO ENTERPRISE FUND (GMEF)
Balance Sheet
December 31 , 1994
• ASSETS
Cash in Bank $209,8$4.73
Notts Receivable
Notes Receivable - Tapper, Inc.
- Muller Theatre ~
$ 78,83.71
NotQS Receivable - SMM, Inc. -0
$ 46
Noteffi Receivable - Aroplax Corp. ,708'86
$ 63
Notes Receivable
Notes Receivabl - Custom Cano
n Inc. ,071.52
$ 40,3$2.69
e - Standard Iro $ ?1,344.10
Appropriations Re ceivables -
1994 Other
1994 Liquor
Fund $100,000.00
$100,000.00
TOTAL ASSETS
~~ ~ "~? ~~U„I TY
~ Fund Balance
Reserved for Participation Lbgn's
(Economic Development)
TOTAL LIABILITIES AND FUND EQt1I~'Y
r~
$709,875.61
.~'~ 0~_~ ~'~:~ . X51
~.
URBAN DEVELOPMENT ACTION GRANT (UDAG) - FSI
FINANCIAI, REPORT
March 7, 1995
•
Payback began in January, 1988 for 12 years ending in January, 2000.
Annual principal aid interest payback total is $27,971.40.
Prlncipai 1.1~INA
Interest $"fjib,9g7.71
$7~,6g9.09
TOTAL - ~5~~ ~~,~ ~„
f~fib~ip~l~ Payback
Itlt~tt~at Payback
interest Income -Investment:
1990
1991
1992
1993
1994 (est.)
Transfer from GMEF - [company]
~'ransfer from GMEF - [company]
1'b`l'AI. REVENUES
PALQ
$140, 730.78
$57,399.97
$198,130.75
$140,730.78
$57,399.97
$3,562.62
$8,593.59
$8,436.32
$7,918.92
$3,901.00
$230,543.20
EF~dAi~IJ.dQ
$116,226.93
$21,299.12
$137.526.05
1'991 Transfer to GMEF $65,000.00
1992 Transfer to GMEF $20,000.00
1993 Transfer to GMEF __ $42,500.00
TOTAL EXPENDITURES $127,500.00
I~WND BALANCE FOR ECONOMIC DEVELOI~IT
I~eCember 31, 1994 03, 3.20
FJaA0,WK1; p3/03/95
• SMALL CITIES ECONOMIC RECOVERY GRANT (SCERG) - AROPLAX
FINANCIAL REPORT
March 7, 1995
I~ayback began in December, 1992 for 7 years ending in November, 1999.
Annual principal and interest payback total is $29,801.40.
First $100,000 principal payback ends Januazy, 1997.
SRANT TOTALS
Principal
Interest S?J~INAL
$170,b00.40
$37
969
92 PALQ
$50,115.40 13EMAININ.~
$119,884.60
TOTAL ,
.
$207,969.92 $11,970.95
62,086.35 $25,998.97
$145,883.57
P11Meipel
Interest Jam
$170,000.00 M.
$ 0,153.60
~~
846
$69
40
T01'AL $29 634.75
$199,634.75 $23 659.34
$123
812
94 ,
.
5,975.41
,
. $75,821.81
Gr~t~t must be expended by December 31, 1994, up to $17 0,000.
• EXPENDED:
$116, 556.75
$16,996.18
$12,356.59
$4,021.10
$15,132.50
$4,936.88
$170,000.00
h>~i~alp~-I Payback
I~t~tr~~ta payback
1~1t~1'~~t Income -Investment:
1993
1994 (est.)
TOTAL REVENUES
EXPENDIT___ UREA
Transfer to GMEF
TOTAL EXPENDITURES
1993
1993
1993
1 /18/94
4/13/94
7/20/94
$50,115.40
$11,970.95
$1,061.92
1 256.00
64,404.27
$0.00
$0.00
• FUN~~ BALANCE FOR SMALL CITIES GRANT
Dec®mb~r 31, 1994
6:2~
SCERQ-A. WKi : 03/03/95
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April 21, 1995
Ollie Koropchak
Economic Development Director
City of Monticello
250 East Broadway
P.O. Box 1147
Monticello, MN 55362
Dear Ollie,
This will confirm my presentation to the Monticello Industrial Development Fundraiser
• Banquet on October 30, 1995 at 6:30 P.M. at the Monte Club. Everything in your letter
of April 5, 1995 is acceptable.
I would like you to provide an overhead projector and screen. The physical
arrangements are up to you and anything will work for me.
I appreciate the invitation and look forward to being with you.
Co ~ ly,
David R. Landswerk
n
3050 Holay Lane • Plymouth, MN 55447 • Phone/Fax (612) 473-7148
C~
BALANCE
REVENUE:
Banquet
1993 ACTUAL 1994 PRt1Pt1~Fn ,oae rnTTTTY
1995
MONTICELLO INDUSTRIAL DEVELOPMENT COMMITTEE
PROPOSED BUDGET
.7anuary 31, 1395
$ 10,650.27
7,950.00
$11,575.30
$ 8,500.00
650.00(93)
0
6,65o.oa
2,800.0093)
... __...._ ._z ~ a. w a o.
$30,425.30
$11,575.30
$ 9,475.00
650.00
1,000.00
6,650.00
2,800.00
201.68
Marquette Bank
City Cor~trib 12,750.00
Chamber Contri 2,800.00
Interest 227.75
TOTAL REVENUE _ ~ ..._.__.__._.___._._...__..._.__
PLUS BALANCE $34,378.02
EXPENDITURE:
Sal/Benefits
$32,351.98
$15,634.14(92) $15,582.03(93) $15,582.03
Banquet 2,355.87
Banquet Speaker
Travel Exp
Prospects
Memberships
Seminars
Market/Adv
BRE
Grbk Recept
Miscellaneous
Service Chg
TOTAL EXPEND
25.25
95.05
110.00
60.00
4,051.80
295.00
77.60
87.76
10.25
$22, 802 • 7t
2,750.00
200.00
500.00
625.00
100.00
4,000.00
500.00
200.00
1,000.00
25.00
$25,482.03
2,432.94
1,000.00
0
87.99
625.00
83.62
0
372.06
0
20.00
0
$20,203.64
BALANCE $11,575.30 $ 4,943.27 $12,148.34
1595 PROPOSED
$12,148.34
$ 9,000.00
1,000.00
G
$ 2,800.00
225.00
$25,173.34
$ 2 , 000.00
1,500.00
2,500.00
1,000.00
200.00
500.00
625.00
100.00
4,000.00
500.00
200.00
1,000.00
0
$14,125.00
$11,048.34
250 East Broadway
`~~~''''` ~`` P. O. Box 1147
Monticello, MN
55362-9245
Phone: (612) 295-2711
MoNTICELLO Metro; (612) 333-5739
Fax: (612) 295-4404
MAIL T0:
INDUSTRIAL DEVELOPMENT COMMITTEE
ATTN OLLIE KOROPCHAK
PO BOX 1147
MONTICELLO MN 55362
ACCOUNT NUMBER
DESCRIPTION
101.46501.1010
101.46501.1310
101.46501.1250
101.46501.1210
101.46501.1220
•
salary reimbursement
insurance reimbursement
medicare reimbursement
PERA reimbursement
SS-FICA reimbursement
05-08-95 ~~994
4 6 91 PAYMENT DUE 06-OS-95
(1% interest per month will be charged
after due date.)
Make checks payable to City of Monticello.
PLEASE RETURN PINK COPY WITH PAYMENT
AMOUNT
6300.00
438.00
92.00
281.00
389.00
TOTAL DUE: 7500.00
~s ~