HRA Agenda 04-06-2005
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ANNUAL MEETING AGENDA
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Wednesday, April 6, 2005 - 6:00 p.m
505 Walnut Street - Bridge Room
Commissioners:
Chair William Fair, Vice Chair Darrin Lahr, Steve Andrews, Dan Frie, and Brad
Barger.
Council Liaison:
Wayne Mayer.
Staff: Rick Wolfsteller, Ollie Koropchak, and Angela Schumann.
Guests: Ron Welle, Liberty Savings Bank
I. Call to Order.
2. Consideration to approve the February 2, 2005, February 15, 2005, and March 29, 2005 I IRA
minutes.
3. Consideration of adding or removing items from the agenda.
4. Consent Agenda.
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5.
A. Consideration of a progress report f"rom Brad Johnson or Barry Flllth relative to Phase II of"
Landmark Square and authorization to begin process for establishment of" a Redevelopment TIF
District if so determined.
B. Request to discuss tax increment payment for Cub Project per Redevelopment Contract.
6. Consideration of a request to further define sweat equity within Transformation Home Loan
Program.
7. Consideration to approve the election of HRA of"ficers for 2005 and approve the appointment of"
commissioners to committees.
8. Consideration to review for amending the HRA Business Subsidy Criteria and HRA Bylaws for
possible amendment and to call for a public hearing if determined.
9. Consideration to review and accept the year-end financial reports for the HRA General Fund and
TIF Fund as prepared by HRA Treasurer Wolfsteller.
10.
II.
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13.
Consideration to authorize payment of liRA bills.
Consideration of" Executive Director's Report.
Committee Reports.
Other Business.
A. Update on Public Auction.
14. Adjournment.
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MINUTES
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Wednesday, February 21ld, 2005
505 Walnut Street - Bridge Room
Commissioncrs Prcscnt:
Chair Bill Fair, Brad Bargcr, Vice Chair Darren Lahr
Commissioners Abscnt:
Dan Frie, Stcvc Andrcws
Staff Present:
Ollie Koropchak, Rick Wolfstcller, and Angela Schumann.
1. Call to Order.
Chairman Fair called the meeting to order at 6:05 PM, and declared a quorum, noting the
absence of Commissioners Frie and Andrews.
2.
Consideration to approve the January 5th ffild Januarv 1 i'\ 2005 HRA minutes.
MOTION BY COMMISSIONER BARGER TO APPROVE TI-lE MINUTES OF
JANUARY 5TH, 2005.
MOTION SECONDED BY COMMISSIONER LAHR. MOTION CARRIED.
MOTION BY COMMISSIONER BARGER TO APPROVE TIlE MINUTES OF
JANUARY I Tn-I, 2005.
MOTION SECONDED BY COMMISSIONER LAHR. MOTION CARRIED.
3. Consideration of adding or removing items from the agenda.
NONE.
4. Consent Agenda.
NONE.
5. Consideration of a progress report from Brad Johnson or Barrv Fluth relativc to Phase II
of I,andmark Square and authorization to begin process for establishment of
Redevelopment TIF District 1-33 if so determined.
No rcport.
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6.
Consideration to approve a resolution adopting a modification to the Redevelopment Plan
for Ccntral Minnesota Redevelopment Proiect No.1 and establishing TII<' District No. 1-
33 thcrein and adopting a TIF Plan therefor.
Koropchak provided a brief overview of the Rcdevelopment Plan and explained that she
had receivcd a mcmo from Mark Ruff at Ehlers and Associates late in thc day. She had
been unable to connect with him regarding the mcmo. Koropchak noted that she would
like clarification on Ehlcrs recommendation to tie the term of the lease to the term of
assistance. She also noted that the statement regarding the return on equity seemcd to bc
in conflict with what Tapper had prepared in his pro forma.
Barger qucstioncd who would be paying thc taxes on thc addition. Koropchak stated that
Tapper had indicatcd that he would bc paying the taxes. Lahr commented on thc
differential between Ehlers analysis and Tapper's, especially in terms of return on
investment. A brief discussion eommeneed on thc differcnces of each statement and the
issues addressed in the Ehlers memo. Lahr stated that the but-J()r analysis showing a 14(%
rcturn does not seems to indicatc that thcre is a financial necd for assistancc. The
Commissioners agrccd that further clarification prior to adopting the Redevclopment Plan
or crcating the TIF District.
MOTION BY COMMISSIONER I.,AHR TO TABLE THE APPROVAL OF A
RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN
FOR CENTRAL MINNESOTA REDEVELOPMENT PROJECT NO.1 AND
EST ABLISI-IMENT OF TIF DISTRICT NO. 1-33 AND TO SCI IEDULE A SPECIAL
MEETING FOR FEBRUARY 15TH AT 6:00 PM TO RESOLVE QUESTIONS
RELATED TO THE REQUEST.
MOTION SECONDED BY COMMISSIONER BARGER. MOTION CARRIED.
Koropchak notcd that it would be wise to have Ehlers and Tappcr discuss their individual
analysis and develop a common conelusion.
7. Public Hcaring and consideration to apProve, the Busincss Subsidy Agrcement. a
provision of the Contract for Private Redevclopment among the HRA, Tappers Holdings,
LLC, and Strategic Equipment and Supply Corporation, and to adopt an Authorizing
Rcsolution approving the Contract for Private Redevelopment with Tapper's Holdings,
LLC and awarding the salc of: and providing th c form, terms, covenants and directions
f()r the issuancc of its $100,000 Tax Increment Revenuc Note, Series 2005.
Chairman Fair opened the public hearing.
MOTION BY COMMISSIONER BARGER CONTINUE THE PUBLIC HEARING TO
THE SPECIAL MEETING OF FEBRUARY 1511\ 2005.
MOTION SECONDED BY COMMISSIONER LAHR. MOTION CARRIED.
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8. Consideration to authorize payment ofHRA bills.
MOTION BY COMMISSIONER LAHR TO AUTHORIZE PAYMENT OF I-IRA
BILLS.
MOTION SECONDED BY COMMISSIONER BARGER. MOTION CARRIED.
9. Consideration of Executivc Director's Report.
Koropchak reviewed the Icads she had responded to in terms of qualification f()J" the Ottcr
Creek Business Park. The majority would not meet the prcferred measures. Koropchak
noted that Dahlheimer's has expressed interest in a possible relocation to Otter Creek
Business Campus.
Koropchak reported that she had received three calls in relationship to the Transformation
Ilome Loan Program. She will keep the HRA informed of further interest.
Koropchak indicated that pending completion by the City Attorney, the proposed
covenants for the Otter Creek Business Campus will be presented to the City Council on
February 14th.
10.
Committee Reports.
The Marketing eommittee will be mceting on February 15th at 7:30 AM.
11 . Other Business.
NONE.
12. Adjournment.
MOTION BY COMMISSIONER BARGER TO ADJOURN.
MOTION SEeONDED BY eOMMISSIONER LAHR. MOTION CARRIED.
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MINUTES - SPECIAL MEETING
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Tuesday, February 15,2005 - 6:00 p.m.
505 Walnut Street - Bridge Room
Commissioners Present:
Chair Bill Fair, Vice Chair Darrin Lahr, Brad Barger, and Steve
Andrews.
Commissioner AbsentDan Frie.
Council Liaison Absent:
Wayne Mayer.
Staff Present: Ollie Koropchak.
Guests: Bill and Barb Tapper, Tapper's Holdings, LtC
1 . Call to Order.
Chair Fair called the I IRA special meeting to order at 6:00 p.m. declaring a quorum.
2.
Consideration to approve the Februarv 2, 2005 HRA minutes.
IN LIEU OF RECEIVING THE MINUTES AT THE MEETING, BRAD BARGER MADE
A MOTION TO TABLE APPROVAL OF THE FEBRUARY 2,2005 HRA MINUTES TO
THE NEXT REGULAR MEETING OF THE HRA. SECONDED BY DARRTN LAHR
AND WITH NO FURTHER DISCUSSION, THE MOTION CARRIED.
3. Consideration of adding or removing items from the agenda.
None.
4. Consent Agenda.
Not applicable.
5.
Tabled - Consideration to aDDrOve a resolution adoDting a modification to the Redevelopmcnt
Plan for Central Monticello Rcdevelomnent Proiect No. 1 and establishing TIF District No. 1-
33 thercin and adopting a TIF Plan thereJ()r.
On February 2,2005, the liRA tabled this item requesting a clarification of the February 2,
2005, "but for" analysis prepared by Mark Ruff, Ehlers & Associates. The February 10,
2005, "but for" analysis increased the expansion costs to $1,479,365 requiring a grcater
mortgagc and cquity amount. With a lease ratc of $5 per square foot TNL which is typical for
the sizc building and proximity of the metro, the return on equity is 2% without TIF and 8% with
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HRA Minutes - 02/15/05
TIF. In this case, Tapper is paying the taxes so this is not a TNL. The return on equity was
7% without TIF and 14% with TIF per the February 2,2005, analysis. Given the rental rate is
within industry standards, Ehler's suggested the term of assistance be tied to the term of the
lease (five years). If the rental rates increase, the HRA would have the opportunity to again,
review the need for TIF.
The resolution to be adopted states the proposed plan will provide employment opportunities
and enhance the tax base of the city and state because it will discourage industry from moving
to another state. The intent is to provide only the public assistance necessary to make the
private development financially feasible and if approved by the City Council, authorizes the
Executive Director to complete certain tasks.
Provided to the commissioners was a copy of a letter iiom Stearns Bank supporting the need
for TIF, the resolution for adoption, a summary of the TIF Plan, and job and wages goals of the
tenant.
STEVE ANDREWS MADE A MOTION TO APPROVE THE RESOLUTION
ADOPTING THE MODIFICATION TO THE REDEVELOPMENT PLAN FOR
CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO.1; AND
ESTABLISHING TIF DISTRICr NO. 1-33 THEREIN AND ADOPTING THE TIF PLAN
THEREFOR. BRAD BARGER SECONDED TilE MOTION AND WITH NO FURTHER
DISCUSSION, THE MOTION CARRIED.
6.
Continued - Public Hearing and consideration to approve, the Business Subsidv Al-':reemenL a
provision of the Contract for Private Development among the HRA. Tapper's Holdings LLC,
and Strategic Equipment and Supply Corporation, and to adopt an Authorizing Rcsolution
approving the Contract for Privatc Redevelopment with Tapper's Holdings LLC and awarding
the sale 01: and providing the form, terms. covenants and directions for the issuance of its
$ Tax Increment Revenue Note. Series 2005.
The public hearing for granting a business subsidy was opened on February 2, 2005, and
continued to February 15, 2005, to allow the 1 IRA to clarify the "but for" analysis prepared by
Mark Rut1~ Ehlers & Associates (See explanation is previous agenda item). A public hearing is
held if a local govcrnment grantor is granting a subsidy that exceeds $100,000. Because of the
uncertainty as to the amount of TIF assistance, it was advised to publish and hold a public
hearing. Under the proposed Contract, the maximum amount of TIF assistance the developer
can receive is $100,000 NPV and at least 40 new jobs will be created at wage levels so
defined in the Business Subsidy Agreement.
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HRA Minutes - 02/15/05
Hearing no public comments, Chair Fair closed the public hearing. BRAD BARGER MADE
A MOTION TO APPROVE, THE BUSINESS SUBSIDY AGREEMENT, A PROVISION
OF THE CONTRACT FOR PRIVATE DEVELOPMENT BETWEEN THE HRA,
TAPPER'S HOLDINGS LLC, AND STRATEGIC EQUIPMEN'r AND SUPPLY
CORPORATION. DARRIN LAHR SECONDED THE MOTION AND WITH NO
FUR'fHER DISCUSSION, THE MOTION CARRIED.
The commissioners received a revised copy of the Contract f()r Private Redevelopmcnt which
is consistent with the elarified "but for" analysis and as suggestion by Ehlers. Koropehak noted
these major changes: The initial principal amount of the Note is $67,000, at 6.2% interest rate,
provided the site improvement costs paid by thc developer equal the principal. The Note will
be delivered to the redeveloper upon receiving the Lease Agreement and evidence satisfactory
to thc HRA that the site improvement costs are complete and paid. If prior to February, 2012,
the lease with the tenant has been rencwed or a lease with a dii1erent tenant has been entered
into with a termination date no earlier than February 1,2015 and at a rental rate per square
foot that is at market levels as analyzed by the HRA' s financial consultant, and the site
improvement costs paid by the developer were at least $100,000; the Note may be increased
by $33,000 to a total principal amount of$lOO,OOO at the discretion of the HRA.
Koropchak further noted that the redeveloper must provide a copy of the lease agreement,
evidcnce of construction financing, proof of insuranccs, and approved construction plans prior
to issuance of a building permit.
DARRIN LAHR MADE A MOTION TO ADOPT A RESOLUTION APPROVING
CONTRACT FOR PRIVATE REDEVELOPMENT WITH TAPPER'S HOLDINGS LLC
AND AWARDING THE SALE OF, AND PROVIDING THE FORM, TERMS,
COVENANTS AND DIRECTIONS FOR THE ISSUANCE OF ITS $67,000 TAX
INCREMENT REVENUE NOTE, SERIES 2005. STEVE ANDREWS SECONDED THE
MOTION AND WITH NO FURTHER DISCUSSION, THE MOTION CARRIED.
7. Consideration to authorize pavmcnt of HRA bills.
No bills, not applicable.
8. Consideration of Executive Director's Report.
Accepted as written.
9.
Committee Reports.
a) Marketin2. Committee No report.
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HRA Minutes - 02/IS/0S
10.
Other Business.
a) Consideration to cancel the March 2, 2005 HRA meeting: with the next regular meetim!,
April 6,2005 (annual meeting).
BRAD BARGER MADE A MOTION TO CANCEL THE MARCH 2, 2005, HRA
MEETING, WITH THE NEXT REGULAR MEETING, APRIL 6, 2005. DARRIN LAIIR
SECONDED THE MOTION AND WITH NO FURTHER DISCUSSION, THE MOTION
CARRIED.
11. Adiournment.
BRAD BARGER MADE;; A MOTION TO ADJOURN THE lIRA MEETING. SECONDED BY
DARRIN LAHR AND WITH NO FURTHER BUSINESS, THE lIRA MEETING ADJOURNED
AT 7:10 P.M.
-""'-'~'~"'--'-~,-
HRA Chair
HRA Executive Director
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MINUTES - SPECIAL MEETING
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Tuesday, March 29,2005 - 6:00 p.m.
505 Walnut Street - River Room
Commissioners Present:
Chair Bill Fair, Steve Andrews, Dan Frie, and Brad Barger.
Commissioner Abscnt: Darrin Lahr.
Council Liaison Present:
Wayne Mayer.
Staff Present: Ollie Koropchak.
I. Call to Ordcr.
Chair Fair called the HRA special meeting to order at 6:00 p.m. declaring a quorum.
2.
Consideration to discuss scheduled public auction for the propertv located at Lots 3, 4, & 5, Alock
54.
Koropchak provided background information about the public auction scheduled for March 30,
6:00 p.m. at the YFW Club in Maple Lake. The 8-Plex located at I I Walnut Street and currently
owned by Paul Wurrn is on the auction. This property lies within the Downtown Monticcllo
Revitalization Plan, to the south of the Hans Hagen redevelopment project, and the I-IRA
currently owns another lot within Block 54. Additional information provided to the commissioners
was a site map, tax information, inside apartment photos, and redevclopment goals fix the area.
Lastly, Koropchak identificd possible financing sourccs for acquisition and providcd acquisition
estimates for the southerly half of Block 54 and TIF estimates based on thc assumption of a 30-
unit condo building.
Commissioner Frie provided a MSL on the 8-Plex listed at price of $750,000 and stated the
property has been listcd for 209 days. A comparative and incomc approach comp for a 6-Plex
locatcd in Maple Lake was provided which sold for $876,000. Frie noted it was difficult to
provide comparatives as only one apartment building has sold in Wright County rccently.
Auctions became a popular method to sell single family housing in the past few years; however,
the real estate market is now soft.
Koropchak informed the commissioners potential developers and the auctioneer had talked to
O'Neill and herself about future plans for the area and the option for the apartment to remain as
is. Chair Fair felt the HRA roles was to be a facilitator to a redeveloper and had concerns ifthe
property was purchased for income purposes, the property might deteriorate. Because the
apartment was constructed in 1964, it is likely the building has asbcstos and does not meet ADA
requirements.
Frie noted at a price of $650,000, the rate of return would be 7% plus there is an additional 8%
premium. Members noted relocation costs for eight tenants at between $5,000-$10,000 each and
the need to rc-zone the area for higher density. It was suggested the HRA representatives
circulate the liRA's interest to be a facilitator for redevelopment and to not bid against viable
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HRA Minutes - 03/29/05
redevelopers. Andrews preferred, given the option ofthe Wurm or Warner parcels, to control the
larger parcel first (Wurm) and noted his comfort level to grant Dan Frie the authority to act as
bidder on behalf of the H RA at the auction.
3. Consideration to approve authorization or denv authorization to bid on the said propertv and to
determine maximum amount of bid ifapplicable.
COMMISSIONER BRAD BARGER MADE A MOTION TO APPROVE THE
AUTHORIZA TION OF A DISCRETIONARY BID IN THE AMOUNT OF $550,000 PLUS
8% PREMIUM FOR THE PROPERTY LOCA TED AT 11 WALNUT STREET,
MONTICELLO, MN. COMMISSIONER DAN FRIE SECONDED THE MOflON AND
WITH NO rURTHER DISCUSSION, THE MOTION CARRIED. HRA Chair Bill Fair and
Commissioner Dan Frie were dclegated to represent the HRA at the auction. Koropchak to
request a down payment eheck of $25,000 and to preparc a certification of authorization to
accompany the rcpresentatives. Should the HRA be successful at the auction, thc
commissioners will discuss thc next step at the April HRA mceting.
4.
Other.
Koropchak informed the commissioncrs of a telephone call from Andrea Angier, 319 East
Broadway. Thcy had received the Transformation IIome Loan inlzmnation in the mail; however,
they wanted to know if the HRA was interested in purchasing their home at the mortgage price
of $199,000. She indicated with six children thcy had outgrown their home which needed
improvements and just wanted out. She also noted thc area was zoned for commercial.
According the property tax information for payable 2005, the market value is $114,500. Given no
immediate redevelopment plans for the area, the HRA expressed no interest to purchase.
5.
Adiournment.
WITH NO FURTHER BUSINESS, BRAD BARGER MADE A MOTION TO ADJOURN
THE SPECIAL HRA MEETING. SECONDED BY STEVE ANDREWS, THE MEETING
ADJOURNED AT 7:00 P.M.
Chair
Executive Director
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H RA Agenda - 04/06/05
5.
A. Consideration of a pr02:ress report from Brad .Johnson or Barn' Fluth relative to
Phase II of Landmark Square and authorization to be2:in process for establishment of
Redevelopment TIF District if so determined.
Reference and back!!round:
In conversation with Brad Johnson, he indicated he will not be at the HRA as he's scheduled to
be out-of-town. He will talk to Barry about moving forward with Phase II at this time. The
question remains "when?" Currently, they are looking at sites to relocate the one house "lid
Brad continues to seek tenants. As you recall, the IlRA and Master's Fifth Avenue entered
into the Preliminary Development Agreement for Landmark Phase II on September 14,2004,
and a $7,500 deposit was made.
Should the developer be at a point to move forward and the HRA is comfortable with the
redevelopment project whieh was reviewed by staff sometime ago. Exterior building materials,
landscaping, storm sewer drainage and potential drive-thm lane are some planning concerns to
be addressed.
Action if dctermined necessary: Motion authorizing the establishmcnt of Redevelopment
TIF District No. 1-34, requesting the City Council call for a public hearing and to begin
preparation of a Contract for Private Redevelopment.
B. Request to discuss tax increment pavment for Cub Proiect per Redevelopment
Contract.
Reference and back2:round:
Brad Johnson has talked to me about the amount of the tax increment received by Fluth
relative to the Cub Project and has requested a copy of the Contract. Attached is TI
calculations showing the reduction in tax increment due to the class rate compression over the
years and noting some recent tax changes to commercial property as initiated by the
Legislators. As you recall, the HRA negotiated with the developer to received the first $45,000
of the annual "avai lable tax increment". This $45,000 is committed toward the annual payment
of the $945,000 Hond for District 1-22.
There appears to be some discrepancy within the Lease Agreement between Cub and Fluth as
to the definition of tax increment and taxes. Johnson has asked to discuss the matter with the
HRA.
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T AX INCREMENT REDUCTION - CLASS RATE COMPRESSION
CUB REDEVELOPMENT PROJECT
March 2005
155-076-0010102005 Market Value: $3,537,100
Hase Market Value: $ 802,400
1997 City Tax Rate: 112.618%
1998 Class Rate 2005 Class Rate
<$150,000 2.45% 1.50(%
>$150,000 3.5%) 2.00%
Captured Tax
Capacity $ 3,675 $ 2,250
$90,465 $51,694
TOTAL $94,140 $53,944 - $40, 1 96
X Tax Rate 1.12618 1.12618
$106,019 $60,751 - $45,602
Available '1'1 90% 90%
$95,416 $54,677
. Less $45,000 $45,000
To Developer $50,416 $ 9,677
STATE TAX CHANGE TO COMMERCIAL PROPERTY
1997 Tax Rate - 112.618% 2005 Tax Rate - 121.996%
2005 MY
Tax Capacity 1997 Tax Rate 2005 Tax Rate
School .05433%
XMV
State 52.0%
XTC
$3,537,100 $69,992
$85,387
$1,922
$36,396
TAX INCREMENT
Captured MV
T'ax Increment
Available TI
Less $45.000
To developer
$2,734,700 $53,944
$60,751
$54,677
$ 9,677
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'fotal
Taxes
$123,705
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Property Tax j 01
State Leoislature
Class Rate C'ompression
~
x
Tax Payable Year
2001 2002 2003 2004/2005
RI!!j;identi.a1 Home$te.ad
<=$76k 1.00% 1.00% 1,000/1;1 UJO%
:.. S76k anc::l ~~ $SOOk 1.65% 1,00% 1.00% 1,00%
> S500k 1.65% 1.25% 1,25% 1.25%
Commercial. Industtl.al & Publir: utility
Induding Maehinary
..~ $1501( 2.40% 1.500/1> 1.50% 1.50%
> $150+1: MO% 2.00% 2,00% 2.00%
Residential Non-Homestsad
4 or more uni1s; Hospitals 2..4~ 1,80% 1.50"'\' 1.25%
New Construction i.fter June 30,2001 1,25% 1..2~%,
Residential Non-Homestead
Z or 3 units ir1l:.Iuding Ag HGA 1.55% 1.50% 125% 1.25%
ResldeRtial Non-Homestead
1 unit. including Ag HGA
<::~ S75k 1.20% 1.00"~ 1.00% 1.00%
.c; srak and <~ $500k 1,65% 1.00% 1.00% 1.00%
> S500k 1,65% 1.25% 1.25%, 1.25%
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Property Tax 101 ~
Property Tax Class Rate Compression History
"1-
Cornmert;;ial &
Industrial
5.259/,
Ap~rtme"ts (4
QI' mOra units)
4.10'V_
4.60'10
HomBS . Hignar
Value
J.30"l.
3.40'/.
3.401/.
2.40"1,
2.11'10
Hom es -< $6S,k
2.00-/11I
2,001/.
1.65'Y.
1.000/.
Homes <: .$i2k
1.:!S'/.
1.00"1.
Homes < $500k
1.00'/_
Homes < S76k
P:ily'1989
Pay1996
Pay Z001
f='ay ~004
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~.SOd/V
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Impact of Class Rate Changes on Tax Capacity, 2001 to 2005
Taxable Tax Capacity Tax Capacity
Market Pay"ble 2001 Payable 2005 Percent
Tvpe of Prooertv Value Class Rates Class Rates Channe
$50.000 $500 $500 0.00%
75,000 750 750 0.00%
100.000 1.156 1.000 -13.49%
150,000 1.981 1.500 -24.28%
ReSidential 200,000 2,806 2.000 -28.72%
Homestead 250,000 3,631 2.500 .31.15%
300,000 4.456 3,000 -32.68%
400,000 6.106 4,000 -34.49%
500.000 7.756 5.000 -35.53%
1.000.000 16006 11.250 -29.71%
SSO,OOO $1.200 $750 -37.50%
Commerciall 300.000 8,700 5.250 .39.66%
Industrial .. SOO,Ooo 15.500 9,250 -40.32%
1.000,000 32.500 19,250 -40.77%
5.000,000 166.S00 99.2SO -41.10%
10,000.000 338 500 199.250 -41.14%
$100,000 $896 $910 1.56%
Agricultural 200,000 1,269 1,460 15.10%
Homestead'. 400,000 2,869 2.560 -10.75%
600.000 4.469 3,660 -18.09%
800.000 6.549 5,300 -19.07%
1 SOO.OOO 14949 12.300 -17.72%
Non-homestead $750 $9.00 $7.50 -16.67%
Agricultural Land 1.000 12.00 10.00 .16.67%
and BuildingS 1.250 15.00 12.50 -16.67%
(Amounts are per acre) 1,500 18.00 15.00 -16.67%
2,000 24.00 20.00 -16.67%
. Also Subject 10 state PfOp.erty tax
.... For <I!:j. homS!ilead property, assumes. value of Muse, oar~e anti one acre is $80,000.
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Impact of Class Rate Changes on Tax Capacity. 2001 to 2005
Taxable Tax Capacity Tax Capacity
Market Payable 2001 Payable 2005 Percent
T voe of Prooertv Value Class Rates Class Rates Chanoe
SSO.OOO $600 $500 -16.67%
Rental Housing 75.000 900 750 -16.67%
(Single Units) 100.000 1.308 1.000 -23.55%
lSO,OOO 2,133 1,500 .29.68%
200,000 2,958 2,000 .32.39%
300.000 4.608 3000 .34,90%
SSO.OOO $825 $625 .24.24%
Rental Housing 100,000 1.650 1.250 -24.24%
(2-3 UnitS) 150.000 2.475 1.875 -24.24%
200.000 3,300 2.500 .24.24%
250,000 4,125 3,125 -24.24%
300 000 4,9SO 3750 -24.24%
Seasonal SSO.OOO $600 $500 -16.67%
Recreational 75,000 900 750 .16.67%
Residential' 100,000 1.308 1.000 -23.55%
150,000 2,133 1,500 .29.68%
200.000 2.956 2.000 -32.39%
300.000 4.608 3000 .34.90%
Apartments $200.000 $4.300 52.500 -41.86%.
(4 or more Units) SOO,OOO 10,750 6,250 .41.86%
Small non-Metro Cllies 1.000.000 21.500 12500 -41,86%
Apartments $200,000 $4.800 $2,500 -47.92%
(4 or more Units) SOO.OOO 12.000 6.250 -47,92%
Remainder of Stale 1.000,000 24.000 12,500 -47.92%
2.000.000 48.000 25.000 -47.92%
~j~ct to .,tate propen:y ta:(
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H RA Agenda - 04-06-05
6.
Consideration of a reauest to further define sweat eauitv within Transformation Home
Loan Proe:ram.
A. Reference and backe:round:
As of today, I have had five inquiries to the Transformation Home Loan Program, Three of
which had possibilities.
The one interested party was looking to purchase a property located at 1023 West Broadway
and to make improvements. She and her husband were interested in doing part of the work
and some improvements would be made by a contractor. She asked if the work she and her
husband completed would be eligible for the program. 1 noted the criteria that sweat equity
may apply when verified by a certified appraisal at the applicant's expense. Not clear, to the
work she and her husband planned to do versus what a licensed contractor would do, I
requested a break down of improvements by them versus the contractor for the purpose of
determining if sweat equity was necessary, Her father also stopped by and I talked with the
proposed lender, Liberty Savings Bank.
Ron Welle, Liberty Savings Bank, will attend the HRA to discuss the sweat equity and the
program,
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Funds arc limited. You may want to call ahead of time to find out if funds are still
available.
4. A Pre-Remodeling Condition Report is required by the HRA to meet city financing
and auditing requirements. A property evaluator (not an appraiser) contracted by the
HRA will spend approximately an hour at your home to assess the age of mechanical
systems, measurc square footage, and othcrwise note the condition of the home prior
to remodeling. This is a one-time report for HRA records and incurs no cost to the
homeowncr.
5. Loans will not be considered for work in progress or work completed. The
Transformation Loan can only be considered for projects not yet begun.
6.
You wil1 be sent a commitment letter verifying the reservation of funds to be provided
at closing. A copy of the letter will be provided to your lender.
:1
7. A copy of a letter of commitment from your lender verifying approval of the primary
loan is required.
8.
The Transformation I-Iome Loan funds will be deposited in an escrow account and
disbursed by a title company. Upon satisfactory verification of work in progress or
upon completion, the escrow account will be drawn upon in pro-rated increments
simultaneously as funds are drawn upon from the primary loan to make payments to
the remodeler. Work must be completed prior to final disbursement.
9. The Transformation Home Loan shall be secured by a Mortgage Deed and Note.
10. Final payment of the committed 'rransformation Loan must be disbursed by the title
company by no later than six months aftcr the datc of lender's closing.
Please be informed that financial data shall be submitted to the Lender for purposes of this
loan application. However, the fact that you apply for a Transformation lIome Loan, the final
loan amounts are considered public data according to Minnesota Statute Chapter 13.
General Remodelcr and Design Criteria:
The HRA does not recommend any particular remodeler. Selected remodelers must
complete a Remodcler Form, and comply with the general criteria established by the
Monticello lIRA. "Sweat equity" may be applied toward eligibility costs associated with
interior improvements such as painting, flooring, etc. or by a Minnesota Licensed Residential
Contractor and when verified by a certified appraisal at the applicant's expense.
4
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8RA Agenda - 04/06/05
7.
Consideration to approve the election of 8RA officers for 2005 and aoprove the
appointment of commissioners to committees.
A. Reference and backeround:
OFFICERS
In accordance with the BRA Bylaws, the chair and vice-chair shall be elected at the annual
meeting of the Board of Commissioners from among the Commissioners of the Authority and
shall hold office for one ycar or until their successors are elected and qualified. The Secretary-
Treasurer shall be appointed at the annual meeting of the Board of Commissioners by the
Commissioners.
At the annual meeting in 1998, the commissioners discussed available time to volunteer and
agreed to rotate the HRA officers among the commissioners suggesting the Vice-Chair move
up to Chair. So being, the Vice Chair for 2004 was Darrin Lahr, therefore, L,ahr's name
moves up to Chair for 2005. The next in-line for Vice Chair is Dan Frie.
Following is a list of names of the previous HRA Chairs and year served:
Frie
Lahr
Murray (Fair)
Andrews
Barger
2001
2000
1999
1998
2002
2006
2005
2004
2003
2007
Rick Wolfsteller serves as the Secretary-Treasurer and delegates the recording of minutes to
Angela Schumann. Koropchak is employed as the Executive Director and serves as assistant
to the Secretary-Treasurer.
COMMITTEES
The HRA, annually or as need be, appoints a commissioner(s) to various committees.
Current committees and appointees:
Small Industrial Group - Dan Frie
Marketing - Darrin Lahr/Brad Barger
.
HRA Agenda - 04/06/05
B.
Alternative Action:
OfFICERS
1. A motion to nominate and elect as Chair and as
~'._''---------o---------....
Vice Chair of the BRA for year 2005, and approve the appointment of Rick
Wolfsteller as Secretary-Treasurer for 2005.
2. A motion to table any action.
COMMlTfEES
1. A motion to approve the appointment of the following commissioners:
-~-~'-'._"~.-
Small Industrial Group
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Marketing
.
C. Recommendation:
No recommendation givcn.
I). Supoortinf; Data:
None.
......
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HRA Agenda - 04/06/05
8.
Consideration to review the HRA Business Subsidy Criteria and the HRA Bvlaws for
{lossible amendments and to call for a DubHc hearing.
These are housekeeping items for review at the annual meeting of the HRA.
BUSINESS SUBSIDY CRITERIA
In review of the Criteria by the Exeeutive Director, there is no reeommendation or need for
ehange. Last year the I IRA amendment the Criteria to increase the deposit amount from
$5,000 to $7,500. I noted on the invoice from Ehlers relative to the new district created for
Tapper's Holdings LLC, Elhers increased the fee to establish a new TIF Oistriet from $4,500
to $5,000 Upon review by the commissioners; questions or changes may be noted. In order
to amend the Business Subsidy Criteria, a public hearing is required. If the commissioners find
a need to amend the Business Subsidy Criteria, a motion calling for a public hearing date of
May 4. 2005, would be in order.
BYLAWS
In a review of the Bylaws by the Executive Director, there is no recommendation or need for
changes. The commissioners may note some changes.
1
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l...:I.~ tt.t.t:tJ.
MONTICELLO
-"-
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO, MINNESOTA
Business Subsidy Criteria
Public Hearing and Adoption the 8th day of September, 1999.
Public Hearing and Adoption of Amendments the 4th day of October. 2000.
Public Hearing and Adoption of Amendment thc 5th day of May. 2004.
I. PURPOSE
.
1 :01 The purpose of this document is to establish the Housing and Redevelopment Authority's
critcria for granting of business subsidies, as defined in Minnesota Statutes 1 ] 6.1. 993,
Subdivision 3, for private development. This eritcria shall be used as a guide in
processing and reviewing applications requesting business subsidies.
1 :02 Thc critcria set forth in this document are guidclines only. The Housing and
Redevelopment Authority rescrves the right in its discretion to approve business subsidies
that vary from the criteria stated herein if the }lousing and Redevelopment Authority
determines that the subsidy nevertheless serves a public purpose. The Authority will file
evidence of any deviation from these criteria with the Department of Trade and Economic
Development in accordance with Minnesota Statutes, Section] 161.994, Subd. Z.
] :03 The Housing and Redevelopment Authority may amend the business subsidy criteria at
any time. Amendments to these criteria are su~ject to public hearing requirements
pursuant to Minnesota Statutes, Sections] 161. 993 through 1161.994.
2. ST A TUTORY LIMITATIONS
2:01 In accordance with the Business Subsidy Criteria, Business Subsidy requests must
comply with applicable State Statutes. The Housing and Redevelopment Authority
ability to grant business subsidies is governed by the limitations established in Minnesota
Statutes 116.1.993 through 1161.994.
.
. HRA Business Subsidy Criteria
3. PUBLIC POLICY REQUIREMENT
3:0] All business subsidics must mcct a public purpose in addition to increasing the tax base.
Job retcntion may only bc used as a public purpose in cases where job loss is imminent
and demonstrable.
4. BUSINESS SUBSIDY APPROVAL CRrrERIA
4:01 All new projects approved by the Housing and Redevelopment Authority should meet the
following minimum approval criteria. J Iowever, it should not bc presumed that a projcct
meeting thesc criteria will automatically be approved. Meeting these criteria creatcs no
contractual rights on the part of any potential developer or the Housing and
Redevelopment Authority.
.
4:02 Thc project must be in accord with the Comprehensive Plan and Zoning Ordinances, or
required changes to the plan and ordinances must be undcr active considcration by the
City at the timc of approval.
4:03
4:04
4:05
4:06
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Busincss subsidies will not be provided to projects that have thc financial feasibility to
procecd without the bencfit of the subsidy. In effect, business subsidies will not be
provided solely to broaden a developer's profit margins on a projcct.
Prior to approval of a business subsidics financing plan and when deemed appropriate by
the Housing and Rcdevelopment Authority, the developer shall provide any required
market and financial feasibility studies, appraisals, soil boring, information provided to
privatc lenders for the project, and other information or data as requested.
A recipient of a business subsidy must make a commitment to continue operations at the
sitc where the subsidy is used for at least five years aftcr the benefit date.
The Housing and Redcvelopment Authority may determinc after a public hearing that job
creation or retcntion is not a goal of the subsidy. In those cascs, the recipient must
instcad mect at least one of thc following minimum requirements (in addition to all other criteria in this
document other than those relating to jobs and minimum wages):
A. The proposed subsidy must accomplish removal, rchabilitation or
redevelopment of "blighted areas" as defined in Minnesota Statutes, Section 469.002,
Subd.] 1, or must constitute a cost of correcting conditions that allow designation of
rcdevelopment districts under Minnesota Statutes, Sections 469. I 74 to 469.179; or
2
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HRA Business Subsidy Criteria
B. The proposed subsidy must result in improvements to public infrastructure or
public facilities, including without limitation, sewers, storm sewers, streets, parks,
recreational facilities, and other City facilities; or
C. The proposed subsidy must remove physical impediments to development of
land, including without limitation poor soils, bedrock conditions, steep slopes, or similar
geotechnical problems.
4:07 For any business subsidy that does not meet the requirements of Seetion 4:06, the
recipient must create or retain jobs as determined by the Housing and Redevelopment
Authority, and must meet the minimum wage thresholds described in Section 5:03C or D
(whether or not the source of the subsidy is tax increment financing).
5. TAX INCREMENT' PROJECT EVALUATION CRITERIA
5:01 The I-lousing and Redevelopment Authority will utilize Tax Increment financing to
support the community's long-term economic, redevelopment, and housing goals.
5:02 Each Tax Increment Financing suhsidy will be analyzed and cvaluated by the Housing
and Rcdevelopment Authority. Eaeh project shall be measured against the gcneral
criteria in Sections I through 6 and the specific criteria in this Section 5 applicable to tax
incrcment financing business subsidies.
5:03 Following are the evaluation criteria that will be used by the llousing and Redevelopment
Authority.
A. All business subsidy requests shall mcet thc "but for" test. The "but for" test
means that the project would not develop solely on private investment in the
reasonahle future. The developer shall providc findings for the "but for" test.
B. Business subsidy requests should crcate the highest fcasible number of jobs on
sitc from date of occupancy where deemed appropriate.
C. for manufacturing and warehousing business subsidy rcquests, at least 90% of the
jobs created must pay a wage of the higher of $9.00 per hour, or at lcast 160% of
thc federal minimum wage requiremcnt for individuals ovcr the age of 20.
Annual written reports are required until termination datc. Failure to meet the job
and wage lcvel goals rcquire partial or full rcpaymcnt of the assistance with interest.
D.
For other business subsidy requests, jobs created must meet as a minimum the
fcderal minimum wage requirement. Annual written rcports are rcquircd until
termination date. Failure to meet the job and wagc level goals require partial or
"I
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lIRA Business Subsidy Criteria
full repayment of the assistance with interest.
E. All business subsidy requests should create the highest possible ratio of property
taxes paid before and after redevelopment.
F. Business subsidy requests should facilitate redevelopment or elimination of
"substandard" or "blighted" areas where deemed appropriate.
G. Business subsidy requests should facilitate the "clean-up" of environmentally
unsound property where deemed appropriate.
I-I. Business subsidy requests should increase moderate priced housing options for
area residents where deemed appropriate.
I. All business subsidy rcquests should be deemed to promote additional desired
"spin-off' development.
J.
All business subsidy requests should demonstrate "community involvement"
including demonstrated degrees of the various factors:
a) Local residency of thc company's owners and employccs, or
b) Local residency of the contractors involved in the project, or
c) Membership in local business organizations, or
d) Other similar factors.
6. PROCEDURES
· Meet with appropriate Staff to discuss the scope of the project, public participation
being required, and other information as may be necessary.
· The request shall be rcviewed by Staff on a preliminary basis as to the feasibility
of the project.
· The project concept shall be placed on the Housing and Redevelopment Authority
agenda for concept review. The applicant will make a presentation of the project.
Staff will present its fi ndings.
· If the Housing and Redevelopment Authority's concept review is positive, StafT
will provide the city Council with an informational concept review.
.
The applicant will execute and submit the Preliminary Development Agreement
accompanied by a non-refundable fee of $7,500.
4
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BRA Business Subsidy Criteria
.
Building and site plans submitted to the Chief Building Official.
.
If Planning and Zoning Commission action is required, it will be necessary for the applicant, at
this time, to make application to the Commission.
.
Staff will authorize the following steps:
- Preparation for establishment of the Tax Increment Finance District and the Tax Increment
Financing Plan if required.
- Preparation of the Private Redevelopment Contract (Subsidy Agreement) based upon agreed
terms.
· Whcn action is required for the Tax Incremcnt Finance Plan, Private Redevelopment Contract,
or Zoning/Ordinance; the Housing and Redevclopment Authority, Commission, and City
Council shall take appropriate action such as public hearings and consideration of approvals.
.
Building permit issued aftcr the Tax Increment Finance District and Plan is approved by City
Council, the Private Redevelopment Contract is executed by the developer and the Housing
and Rcdevelopment Authority, and the Building Permit Fees are paid.
.
EliKihle Tax Increment Finance expendUures: Land aequisU;on, site improvements, puhhe
hnprovements, and demohtion and relocation costs.
Tax Increment Finance time: Generally six to eight weeksjrom time olauthorization to begin drafiin;;
plan and contract.
Zoning/Ordinance time: Varies per pmjeef.
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5
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Section 1.
Section 2.
Section 3.
Section 4.
Section 1.
Section 2.
AMENDED
BYLAWS OF TIlE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO, MINNI~SOT A
ARTICLE I
THE AUfIIORITY
Name of Authority. The name of the Authority shall be the "I-Iousing and
Redevelopment Authority in and for the City of Monticello, Minnesota."
Seal of Authority. The seal of the Authority shall be in the form of a circle and shall
bear the name of the Authority and the year of its organization.
Office of thc Authoritv: Place of Meeting. The office of the Authority shall bc at such
place in the city of Monticello, Minnesota, as the Authority may from time to time
determinc by resolution. Regular and special mectings of the Board of Commissioners
shall be open to the public and shall be held in Monticello City IIall at 50S Walnut
Street, Suite #1. Monticello, Minnesota; provided, however, that upon thrce days
writtcn notice to the Commissioners of the place of such meeting, any regular or special
meeting may be hcld at such placc within the city of Monticello as the notice shall
dcsignate.
Powers of the Authority. The Authority, by and in its corporate name, shall have and
exercisc all powers, functions, rights, and privilcgcs pursuant to Minnesota Statutes
469.001, et set].
ARTICLE II
COMMISSIONERS
Authoritv. The business and afTairs ofthc Authority shall be managed by or under the
authority of the Board of Commissioners, except as otherwise permitted by statute.
Number, Oualification, and Term of Office. There shall be five Commissioners
appointed by the Mayor of Monticello and approved by the City Council.
Commissioners shall he natural persons, at least 18 years of age, and must reside in the
city of Monticello. Commissioners shall serve a tcrm of five years with one
Commissioner's term expiring each year.
DAWNIWORDIOLLlEIBYLAWSHRA: 4/3102
Page 1
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Section 3.
Section 4.
Section I.
Section 2.
Section 3.
Section 4.
Vacancies. Vacancies on the Hoard of Commissioners occurring by reason of death,
resignation. removal. or disqualification shall be filled f()r the unexpired term by the
Mayor in aceordancc with the procedures set forth in Article [I, Section 2.
Removal. For ineUiciency or neglect of duty. or misconduct in office, a Commissioner
may be removed from office by the City Couneil in accordance with Minnesota Statute
469.010.
ARTICLE III
OFFICERS
Onicers. The Officers of the Authority shall consist of a Chair, Vice-Chair, and a
Secretary-Treasurer. The Chair and Vice-Chair shall be elected from among the
Commissioners. A Commissioner shall not hold more than one of the above-named
offices at the same time. The Secretary-Treasurer shall be appointed by the
Commissioners.
Chair. The Chair shall preside at all meetings of the Board of Commissioners if present.
Except as otherwise authorized by resolution of the Board of Commissioners, the Chair
shall sign all contracts, deeds, and other instruments made by the Authority. At each
meeting, the Chair shall submit such recommendations and information as considered
proper concerning the business, aifairs, and policies of the Authority. Except as
otherwise provided by rcsolution of the Board of Commissioners, all such orders and
checks shall be counter-signed by the Chair.
Vice-Chair. The Vice-Chair shall perform the duties of the Chair in the absence or
incapaeity of the Chair; and in case ofresignation or death of the Chair, the Viee~Chair
shall perform such duties as are imposed on the Chair until such time as the Board of
Commissioners shall select a new Chair.
If in the event a quorum is present and the Chair and Vice-Chair arc absent or unable
to attend a meeting of thc Board of COlnmissioners. The three remaining members shall
elect from among the remaining Commissioners a Chair for the said meeting.
Secretary-Treasurer. Thc Secretary-Treasurer shall perform the duties of the office of
Secretary-Treasurer. The Secretary-Treasurer may delegate the responsibility for
recording the Minutes of the Board of Commissioner meetings to the Exeeutive
Director or to the Authority Oi1ice Seeretary as is determined appropriate by the
Secretary-Treasurer. The Secretary-Treasurer shall sign all orders and cheeks t()f the
payment of money and shall payout and disburse such moneys under the direction of
the Authority.
DAWNIWORD\OLLlEIBYLAWSHRA 4/3/02
Page 2
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Section 5.
/\dditional Duties. The Officers of the Authority shall perform such other duties and
functions as may from time to titne be required by the Authority or the bylaws or rules
and regulations of the Authority.
Section 6.
Election or Armointment. The Chair and Vice-Chair shall be elected at the annual
mceting of the Hoard of Commissioners from among the Commissioners of the
Authority and shall hold office for onc year or until their successors are elected and
qualiiled. The Secretary-Treasurer shall be appointed at the annual meeting of the
Board of Commissioners by the Commissioners.
Section 7.
Vaeaneies. Should the offIce of the Chair, Vice-Chair, or Secretary-"rrcasurcr become
vacant, the Board of Commissioners shall clect a successor hom its members at the
next regular meeting, and such election shall be for the unexpired term of said office.
ARTICLE IV
EXECLJTIVE DIRECTOR
The Authority shall employ an Executive Director who shall have general supervision over the
administration of its business and affairs, subject to the dircction of the Board of Commissioners. As
assistant to the Secretary-Treasurer, the Executive Director shall ensure that proper records of the
Authority are maintained. The Exccutive Dircctor (or designee) shall act as Secretary of the meeting of
the Board of Commissioners and shall kecp a record of the proceedings in ajournal of proceedings to
be kept fl1r such purposes (the minutes of the proceedings are to be signed by the recorder plus the
Authority Commissioner acting as Chair at the meeting). The Executive Director shall perform all duties
incident to the Executive Director position as may be assigned by the position description as approved
by the Board of Commissioners. The Executive Dircctor shall keep in safe custody thc seal of the
Authority and shall have the power to affix such seal to all contracts and instruments authorized to be
executed by the Authority.
The Executive Director shall have the care and custody of all funds of the Authority and shall deposit
the same in the name of the Authority in such bank or banks as the Board of Commissioners may
select. The Executive Director shall be charged with the management of the housing projects of
Authority.
The Executive Director shall keep regular books of accounts showing receipts and expenditures ~lI1d
shall render to the Board of Commissioners, at each regular meeting (or more often when requested),
an account of his/her transactions and also of the financial condition of the Authority. The Executive
Director shall give such bond of the faithful performance of duties as the Board of Commissioners may
determine.
DAWN/wORDlOLLlEIBYLAWS.HRA 4/3/02
Page 3
The Executive Director shall be appointed by the Hoard of Cornmissioners. Any person appointed to
fill the ofjice of Executive Director. or any vacancy therein, shall have such term as the Board of
Commissioners fixes. but no Commissioner of the Board of Comrnissioncrs shall be eligible to this
of-lice. When the office of Executive Director becomes vacant, the Board of Commissioners shall
appoint a successor. as aforesaid.
.
So long as the Executive Director is an employee of and paid by the City. the Executive Director's
compensation will be determined in accordance with City compensation policies and procedures
provided that the Board of Commissioners shall at least annually rcview the performance of the
Executive Director and make recommendations to the City regarding that person's compensation. If
the Exccuti ve Director is not an employee of the City but is indepcndently retained by the Authority, the
Board of Commissioners shall establish the compensation of the Executive Director.
AR"fICLE V
ADDITIONAL PERSONNEL
The Board of Commissioners may from timc to timc employ such personnel as it deems necessary to
exercise its power, duties, and functions as prescribed by the Municipal Housing and Redevclopment
Law of Minnesota applicable thereto. The selection of such personnel (including the Executive
Director) shall be determined by the Board of Commissioners subject to the laws of the State of
Minnesota. In cases where such personnel are employees of and paid by the City, such persons'
compensation will be determined in accordance with City compensation policies and procedures,
provided that the Board of Commissioners shall at least annually review the performance of the
personnel and make recommendations to the City regarding such persons'
compensation. Ifany personnel are not employees of the City but are independently retained by the
Authority, the Board of Commissioners shall establish the compensation of such pcrsonnel.
.
Section 1.
Section 2.
.
ARTICLE VI
MEE"fINGS
Annual Meeting. ~rhe annual meeting of the I30ard of Commissioners shall be held on
the first Weclnesday of April at 6 p.m. at the regular meeting place of the Board of
Commissioners; provided, however, that the date/time ofthc annual meeting may be
postponed to a subsequent date/time upon the votc of a majority of Commissioners in
office at any time taken at any regular or special meeting.
Re!!;ular Meetin!!;s. Monthly meetings shall be held without notice at the regular meeting
place of the Board of Commissioners on the first Wednesday of each month at 6 p.m.
unless the samc shall be a legal holiday, in which event said meeting shall be held on the
next succeeding secular day. In the event the date/time/meetings place of a particular
meeting must be changed, the Chair may make such change deemed necessary by
notifying all Commissioners by delivering (by staff) a notice to their home address at any
time prior to the meeting or mailing a notice to the business or home address at least
three (3) working days prior to the date of such regular meeting.
DA WNIWOR mOLLI EIB Y LAWS. H RA 4/3/02
Page 4
Section 3.
.
Special Meetine.s. Special meetings of the Board of Commissioners may be called by
the Chair or two members of the Board of COlnmissioners fClr the purpose of
transacting any business designated in the call. The call (including location of meeting)
JClr a special meeting may be delivered at any time prior to the time of the proposcd
mceting to each member of the Board of Commissioners or may be mailed to the
business or home address of eaeh membcr of the Board of Commissioners at least
three (3) working days prior to the date of such special meeting. At such speeial
meeting, no busincss shall be considered other than as designated in the call; but if all of
the members of the Authority are present at aspecial meeting, any and all business
may be transacted at such special meeting. Notice of any special meeting shall be given
in accordance with MinnesotaStatutes, Section 47] .705, subd. ] c, or any successor
statute regarding notiee of meetings of publ ic bodies.
ARTICLE VII
QUORUM
The powers ofthc Authority shall he vested in the Commissioners thereof in office from time to time.
Three Commissioners constitute a quorum (except as notcd below) for the purpose of conducting its
business and exercising its powers and f(u all other purposes, but a smaller numher may adjourn from
time to time until a quorum is obtained. When a quorum is in attendance, action may be taken by the
Board of Commissioners upon a vote of a majority of the Commissioners present (except as noted
. below).
Exception: In regard to action on the annual Authority operating budget, or revisions thereto, there
must be at least rC)llr Comrnissioners present, and the majority of those present must vote in favor of
such for the matter to be approved.
Section ].
1.
2.
..,
.J.
4.
5.
6.
7.
. 8.
ARTICLE VIII
ORDER Of BUSINESS
Order of Business. At the regular meetings of the Board of Commissioners, the
following shall be the Order of Business:
Roll call
Reading and approval of minutes of the previous meeting
Items not contained in the agenda
New business
Hills and eommunications
Project update hy Executive Director
Other Business
Adjournment
All resolutions shall be in writing and shall be copied in the journal of the proceedings of
the Board of Commissioners.
DAWN/WORD\OLLlE\BYLAWS.HRA. 4/3/02
Page 5
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ARTICLE IX
MANNER OF VOTING
The voting on all questions coming bd()re the Board or Commissioners shall be by roll call, and yeas
and nays shall be entered upon the minutes of such meeting. The Chair and all mernbers of the Board
of Commissioners at every meeting of said Board of Commissioners shall bc entitled to a vote. In the
event that any Commissioners shall have a personal interest of any kind in a matter then before the
Board of Commissioners, the Commissioners shall disclose his/her interest and be disqualified from
voting upon the matter, and the Secretary shall so record in the minutes that no vote was cast by said
Commissioner.
ARTICLE X
EXECUTION OF CONTRACTS
All contracts, notes, and other written agrecments or instruments to which the Authority is a party or
signatory or by which the Authority may be bound shall be executed by the Chair and Executive
Director. If thc Executive Director is absent or otherwise unable to execute a document, the Secretary-
Treasurer may execute the document.
ARTICLE XI
AMENDMENTS
The bylaws of the Board of Commissioncrs shall be amended by Resolution only with the approval of
at least a majority of the Commissioners in office at any time.
These bylaws were adopted as the bylaws of the Authority by the Board of Commissioners on July 8,
] 997.
Thcse bylaws were adopted as the bylaws of the Authority by the Board of Commissioners on
September 2, ] 998.
These bylaws were amended as the bylaws of the Authority by the Board of Commissioners on
June 7, 2000.
These bylaws were amended as the bylaws of the Authority by thc Board of Commissioners on
April 3, 2002.
DAWN/WORD\OL LI E\B Y LAWS H RA: 4/3102
Page 6
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HRA Agenda -04/06/05
9.
Consideration to review and accept the vear-end financial reports for the HRA
General Fund and TIF Districts as prepared bv HRA Treasurer Rick Wolfs teller.
The 2004 BRA General Fund and TIF Districts Reports are attached or will be submitted at
the HRA meeting.
After review of the report, it is rceommcnded thc commissioners make a motion to accept the
2004 financial rcport..
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10.
Consideration to authorize {lavment of the HRA bills.
Recommendation is to authorize payment of thc attached.
HRA Agenda - 04/06/05
.
City of Monticello
Accounts Payable
505 Walnut Street, Suite 1
Monticello, MN 55362
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
Tax 10 No. 41-1225694
February 25, 2005
Statement No. 64933
Through January 31, 2005
MN190~00118 Economic Development TIF (Tapper/Strategic Equipment)
.
3,114.25
Total Current Billing:
3,114.25
~~\i
(\J~ ~t \-
\-;~3
\~~ ~~~Ll~
.~. O--~ ~
I declare, under penalty of law, that this
account, claim or demand is just and correct
and that no part of it has been pai .
.
'\) \~31~t'~\
......ij' "'I!'"
>>Ii;, ;.;
f:JJ\Y? Oll,L-
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....;.,..)(.\]0.
""'" '-\. .', '~...":I......,'
PjI:i.1 ~ ~ \C' S
.. ."......" ..."_..._..__......... J ~ -:>' 0 .
.
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
41-1225694
February 25, 2005
Invoice # 64933
City of Monticello
Accounts Payable
505 Walnut Street, Suite 1
Monticello, MN 55362
MN 190-00118 Economic Development TIF (Tapper/Strategic Equipment)
Through January 31, 2005
For All Legal Services As Follows: Hours Amount
1/6/2005 SJB Conference with 0 Koropchak re meeting with Tappers 0.20 36.00
1/7/2005 SJB Meet with 0 Koropchak, Strategic re TIF contracts 3.25 585.00
1/12/2005 SJB Review Ehlers documents, schedule; email to/from 0 0.75 135.00
. Koropchak; review TIF runs
1/12/2005 JAE Review e~mail correspondence, documents from Ehlers 1.50 232.50
regarding TIF Plan, TIF plan cash projections, and
materials regarding Redevelopment Project; Begin drafting
Contract for Private Development.
1/14/2005 SJB Review Ruff TIF runs 0.20 36.00
1/18/2005 JAE Draft Contract for Private Development. 3.00 465.00
1/19/2005 JAE Complete first draft of Contract for Private Development. 3.00 465.00
1/20/2005 JAE Phone conversation with Ollie Koropchak. 0.10 15.50
1/21/2005 SJB Conference with J Eddington re subsidy summary 0.30 54.00
1/21/2005 JAE Revise Contract; Send Business Subsidy portion of 0.50 77.50
Contract to City.
1/25/2005 JAE Review cash flows received from Todd Hagen; Review 0.30 46.50
resolutions received from Susan Landrum at Ehlers.
1/26/2005 JAE Review TIF Plan drafted by Ehlers. 2.50 387.50
1/27/2005 JAE Revise Contract for Private Redevelopment and send to 3.00 465.00
parties; Provide comments to Ehlers regarding TIF Plan;
Exchange e-mails with Susan Landrum regarding TIF
Plan; Phone conversation with Ollie Koropchak regarding
TIF Contract; Revise Contract and send to parties
. 1/31/2005 JAE Receive and review school and county notification of TIF 0.50 77.50
Plan from Ehlers; Receive e-mail from Ollie Koropchak;
Revise Contract for Private Redevelopment and send to
parties.
.
.
.
Page: 2
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
City of Monticello
January 31, 2005
Total Services:
For All Disbursements As Follows:
1/7/2005
Stephen J. Bubul ; Mileage
Total Disbursements:
Total Services and Disbursements: $
$
3,078.00
$
36.25
36.25
3,114.25
.
.
.
Monticello HRA
505 Walnut Avenue, Suite 1
Monticello, MN 55362
March 10, 2005
MC100~35
Invoice # 23644
TIF District No. 1-33
Professional Services
Hours Amount
2/28/2005 TH Establishment of TIF District No. 1~33
TH Prep for Meeting/Attend Public Hearing
5,000.00
2.00 250.00
Total Due This Month:
2.00 $5,250.00
Status of Account:
Current
$5,250.00
90 Days 120+ Days
$0.00 $0.00
Total
.'nm_'_
$5,250.00
30 Days _______E20 D~~
$0.00 $0.00 '
~,~ \~~ ~~S~~ ~(L\
\ ~ ~ ~ i \ b (\ ~ \,^-0. l '-- C
~~~ ~ ~ ~"
PAY? O\l\L
Code'
tV!/j [1 1 4 2005
h~~ti8.,~ ~ -\ "'5,. 0 S
PLEASE KEEP WHITE COPY FOR YOUR FILE AND REMIT PINK COpy WITH PA YMENT TO'
.
EHLERS
& ASSOCIATES INC
3060 Centre Pointe Drive
Roseville, MN 55113-1105
651.697.8500
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Monticello HRA
505 Walnut Avenue, Suite 1
Monticello, MN 55362
March 10,2005
MC100-35
TIF District No. 1-33
Professional Services
2/28/2005 TH Establishment of TIF D'istrict No. 1-33
TH Prep for Meeting/Attend Public. Hearing
Total Due This Month:
Status of Account:
Current __1.QI)E.Y~
$5,250.00 $0.00
60 Daysu______
$0.00
90 Days
$0.00
Invoice # 23644
1 ?Q+ , Q_~YE...
$0.00
Hours Amount
5,000.00
2.00 250.00
2.00 $5,250_00
Total
$5,250.00
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PLEASE KEEP WHITE COPY FOR YOUR FILE AND REMIT PINK COpy WITH PA YMENT TO:
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EHLERS
& ASSOCIATES INC
3060 Centre Pointe Drive
Roseville, MN 55113-1105
651.697.8500
. 2005 AGENCY MEMBER APPLICATION FORM
Please cross out any incorrect information and write in any changes.
Contact Information
Company:
Contact:
Title:
Monticello HRA
Ollie Koropchak
Executive Director
Address: 505 Walnut Street
Suite 1
City: Monticello, State: MN Zip: 55362
Telephone: 763-271-3208
Fax: 763.,295-4404
Email: ollie.koropchak@ci.monticello.mn.us
Web Site:
Program Information:
. 3 L.\ L, 30 \ I l/?> 3 C)
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Congressional and Legislative Districts
Federal Congressional District: 2
State Legislative Districts:
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Dues for Agency members are based on the number of full-time or full-time equivalent
employees. Please check the appropriate dues amount and return this sheet with your dues
payment.
fJE Employee
~) 1-4
( ) 5-9
( ) 1 0-1 9
( ) 20-29
( ) 30-49
()50-74
()75-100
( ) 100+
Dues
$125
$175
$235
$325
$525
$775
$1025
$1225
Return to:
Minnesota NAHRO
1228 Town Centre Drive
Eagan, MN 55123
Thank you for your 2005 Membership and ongoing support to Minnesota NAHRo.
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HRA Agenda - 04/06/05
11.
Economic Development Director's Reoort.
a)
Marketing Committee meeting - The committee met on March 22. Production of maps:
Monticello Location, Access to Business Center, transportation of future collector roads, and
concept plan t(H center. Contracting for billboard along 1-94, participation in manufacturing
exposition, May 3-5 and Chamber Golf Outing, further research in radio talk shows and metro
golf course clubhouses.
City/TCDC Loan - The final report was mailed to the State, March 18. Once confirmed by
the State, this will close-out the agreement between the City and State and the EDA can access
the funds for future revolving loan fund applications. The original loan amount was $500,000 of
which repayments by TCDC arc currcnt.
Job and wage reports to State of Minnesota - These reports arc due to the State by April 1.
WSI, Tapper's (equipment loan), TCDC, and GWJ,LLC completed the forms so will get the
rest of the info together to complete by Aprill. All companies reached their job and wages
goals. WSI actually now employs 57 people at wages greater than committed.
Council Member Mayer will attend a conference March 30 in St. Paul. Fiber Optics to the
Home Community & Economic Development. (Good info for options fl)[ industrial park)
Wurm eight-plex on a public auction March 30,6:00 p.m., VFW Club, Maple Lake.
HRA Annual meeting scheduled for April 5, 6:00 p.m. Election of officers and year-end
financial reports.
EDA Annual meeting scheduled for April 26, 4:00 p.m. Election of officers and year-end
financial reports. Susie Wojchouski appointed to EDA Commission.
Transformation Home Loan Program - Had five inquiries so far. Three appear doable.
Barry Fluth/Brad Johnson getting closer to redevelopment of Landmark Square ll. Hoping to
sign two lease agreements. May be on HRA agenda.
The final occupancy permit is being issued today for the last home constructed within Mike
Cyr's Front Porch '1'IF District development. The remaining 8 homes for construction are part
of the project area but not part of the 'I'IF District. Attached letter requested for continued
financing.
Ad Hoc Committee for Open and Outdoor Storage Ordinance met March 9.
IDC Member Kelli Huxford - Darrin Lahr informed me that KelIi is no longer employed at the
Nuclear Plant. I've asked him for suggestions for a replacement.
Industrial businesses:
- Tapper 25,000 sq ft expansion - Site and building plans to be submitted to the city the week
of March 28. Anticipate construction to begin mid-Mayor June.
- Dahlheimer still interested in both Monticello and Big Lake. Has architect on board, waiting.
to hear final commitment and timing for interchange and Ryan project.
- WaIbord, Inc. - New owner checking on taxes. Purchase price $1.2 million. I need to visit.
- Bondhus Corporation - 1 need to visit with John about future company plans.
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HRA Agenda - 04/06/05
Leads
- 11,000 sq ft for computcr business assembly. E-mailed customer workshcet. (Construction
company.)
- Start-up business looking for lease space. Referred to Tapper and Barger. (Owner)
- Looking f()r 10,000 sq ft: of existing space for lease. This extrusion company looking for
additional satellite space. Referred to Barger and Tapper. Future to combine into one facility.
On my marketing list. (Owner)
- Wrote letter to Medtronic's, marketing the Monticello Business Center. Received call back
that demographic in this area does not meet company's needs.
- 28,000 sq ft: rubber products facility - Going to Big Lake, purchased last lot in first industrial
park.
- 40,000 -60,000 sq ft: manufacturer - f()llow-up left message with metro area broker.
10,000 sq ft: - left: message, worthy company (Barger)
30,000-50,000 sq ft - check back in 2 months (No decision-problem with Contract) (owner)
30,000 sq ft manufacturing facility (consultant) Will check with client and call back week of
March 28.
Duke Real Estate - Jeff met with them while I was on vacation. Interested acquiring land for
commercial/industrial master plan development. Looking at Weinand, Otter Creek and
Osowski areas. Putting together RFP.
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February 17, 2005
MONTICELLO
Front Porch Associates, LTD
Attn: Mike Cyr
P.O. Box 1338
Monticello, MN 55362
Re: Contract fen Private Development by and among Front Porch Associates, LTD, Housing and
Redevelopment Authority in and for the City of Monticello, and City of Monticello. Minnesota.
To Whom It May Concern:
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On May 1, 2002, the Contract fi)r Private Development was entered into among the above said
parties. Within the Contract, the Developer agreed to complete the construction of the minimum
improvements for a total of eighteen townhouses on the Development Property (TIF Housing District)
by no later than December 3 I, 2004. As on this date, the Developer has been furnished a
Certification of Completion for each of the seventeen townhouses completed. It is my understanding,
the eighteenth townhouse will be completed 'vvith the closing scheduled for the end of March 2005. The
Developer should be commended for his timel iness in completion of the minimum improvernents within
the Development Property and satisfying the qualifications for a TIF I'lousing District.
Also per the Contract, the Developer agreed to complete the construction of the minimum
improvements le)r an additional eight townhouses on the ^<.ljaeent Property (outside TIF District but
within project area) by no later than December 31,2007.
The Authority encourages the Developer to continue his good works and to complete the additional
eight townhouses on the Adjacent Property on a timely basis. Should you have any further questions
relative to the construction progress of Vine Place, please call me at 763-271-3208.
Sincerely,
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I lOUSING AND IUJ)EVELOPMENT AllTI rORITY
IN AND FOR THE CITY OF MONTICELLO
U~ \~ 0\ 0 c:SJ ~}.,..(")~
Ollie Koropchak
Fxccutive Director
c: TIF District No. 1-2t) File
Monti<.:cllo City Hall. 505 Walnut Slr<.:et. Suite I, Monricello, MN 55362-kk31 . (7m) 2<)52711 . Fax: (763) 2<)5-4404
Office of Publ ic Works, <)0<) Gol r Course Rd., Monticello, MN 55362 . (763) 295-3170 . Fax: (763) 271. -3272