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HRA Agenda 05-04-2005 . . . AGENDA MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Wednesday, May 4, 2005 - 6:00 p.m. 505 Walnut Street - Bridge Room Commissioners: Chair Darrin Lahr, Vice Chair Dan Frie, Steve Andrews, Brad Barger, and Bill Fair. Council Liaison: Wayne Mayer. Staff: Rick Wolfsteller, Ollie Koropehak, and Angela Schumann. Guest: Mayor Clint Herbst. 1. Call to Order. 2. Consideration to approve the April 6, 2005 HRA minutes. 3. Consideration of adding or removing items from the agenda. 4. Consent Agenda. 5. Consideration to approve authorization to negotiate for purchase the property located at 154 West Broadway. 6. Consideration to authorize payment of HRA bills. 7. Consideration of Executive Director's Report. 8. Committee Reports. 9. Other Business. 10. Adjournment. . . . MINUTES MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Wednesday, April 6, 2005 - 6:00 p.m. 505 Walnut Street - Bridge Room Commissioners Present: Vice Chair Darrin Lahr, Steve Andrews, Dan Frie, and Brad Barger. Commissioner Absent: Chair William Fair. Council Liaison Present: Wayne Mayer. StafTPresent: Rick Wolfsteller and Ollie Koropehak. Guests: Ron Welle, Liberty Savings Bank Richard Fair and Jacquelyn Peterson 1. Call to Order. Vice Chair Lahr called the HRA meeting to order at 6:00 p.m. declaring a quorum. 2. Consideration to approve the February 2.2005, Februarv ] 5.2005, and March 29. 2005 HRA minutes. Brad Barger made a motion to approve the Fehruary 2, 2005, Fehruary J 5, 2005, and March 29, 2005 llRA minutes. Steve Andrews seconded the motion and with no corrections or additions, the minutes were approved as wrillen. 3. Consideration of adding or removin~ items from the agenda. No items to add or remove. 4. Consent Agenda. No consent agenda. 5. A. Consideration of a progrcss report from Brad Johnson or Barrv Fluth relative to Phase II of Landmark Square and authorization to begin proeess for establishment of a Redevelopment TIF District if so determincd. No representative from Landmark Square II was present, therefore, no action required. B. Re<"luest to discuss tax increment pavmcnt for Cub Proiect per Redevelopmcnt Contract. Using an examplc of the Cub redevelopment property, Koropchak explained how the class rate . . . BRA Minutes - 04/06/05 compression beginning in ] 998 affected commercial property taxes and tax increment. Secondly, within the last few years, the Legislators added a State tax rate which increased the property taxes but did not increase the tax increment. A school tax rate was also added which in comparison to the state tax rate has very little impact. Lastly, tax increment is figured using thc local jurisdiction tax rate of the year the TIF District was created. The example given estimates an annual property tax of about $123,705 and tax increment of about $60,751. According to the Redevelopment Contract, the Authority retains 90o/r\ of the annual tax increment and the first $45,000 of the annual available tax increment. This amount is pledged to the TIF District No. 1-22 Bond. No action necessary, for discussion and information purposes only. 6. Consideration of a request to further dcfine sweat equitv within Transformation Home Loan Program. Jacquelyn Peterson and her husband recently closed on the property located at 1023 West Broadway through the Liberty Savings Bank, purchase price $150,000. They have submitted an applieation for the Transformation Home LOlll Program for rcnovation and expansion of the home. The property lies within the boundary lines of the program and the 2004 market value was $] 10,000. A sketch of the improvements were presented to the HRA. Estimated improvement costs are $75,000. Thc commissioners were asked to define or clarify the application of "sweat equity." Commissioner Frie explained sweat equity was meant to help individuals reach the HRA's minimum improvement threshold of $50,000. Sweat equity is applicd toward (up to 20%) of the hard costs associated with improvements after submission of a final sworn construction statement and receipts. Using an example: Ofthe $75,000 estimate, the hard costs are $50,000, the HRA will only finance 20% or $10,000. Given the father, Richard Fair, was going to provide a line-or-credit for the improvement costs, the lIRA agreed to reserve the Transformation dollars until completion of the improvements and submission of evidence. Ron Welle, Liberty Savings Bank, asked if the BRA was acceptable to a third position upon refinancing. The lIRA did not agree to a second position. The commissioner expressed this type of improvement project was exactly what they were looking fl1r. Koropchak noted the need for the Building Official to assess the property to meet the required substandard qualifications. Dan Frie made a motion to approve the Transformation Home Loan Application of Keith B. Peterson and Jacquelyn 1. Petersonfor the property located at 1023 West Broadway, Monticello, subject to meeting the program criteria. With the improvement costs estimated at $75,000, the Tran~fhrmation Loan amount estimated at $15,000 or up to 20% qfthe hard costs and to be held in reserve. Seconded by Steve Andrews and with no filrther discussion, the motion carried. 2 . . . HRA Minutes - 04/06/05 7. Consideration to approve the election of HRA officers for 2005 and approve the appointment of commissioners to committees. ,)'tevc Andrews made a motion to nominate and elect Darrin Lahr as Chair and Dan Frie as Vice Chair of the IIRAfor 2005. and to appoint Rick Wolj.\'teller as Secretary- Treasurer and to delegate the recording of minutes to Angela Schumann. Brad Barger seconded the motion and with nofurther discussion, the motion carried. Dan Frie made a motion to appoint Dan Frie to the Small Industrial Group, and Darrin Lahr and Brad Barger to the Marketing Commillee. Steve Andrews seconded the motion and with nofilrther discussion, the motion carried. 8. Consideration to review for amending the llRA Business Subsidy Criteria and HRA Bvlaws for possible mnendment and to call for a public hearing if determined. In review of the HRA Business Subsidy Criteria, Koropchak noted the BRA had increased the Pre-TIF deposit from $5,000 to $7,500 last year. She also noted that Ehlers has increased their fees for establishment of a new district from $4,500 to $5,000 since last year. The commissioners agreed to keep the deposit at $7,500 to eliminate an image of discouraging redevelopment and economic development or to prevent scaring ofT developers. The commissioners found no need to amend the lIRA Business Subsidy Criteria. In review of the HRA Bylaws, the commissioners found no need to anlend the Bylaws. 9. Consideration to review and accept the year-end financial reports for the HRA General Fund and TIF Fund as prepared by 1-1RA Treasurer Wolfsteller. HRA Treasurer Wolfsteller reviewed the 2004 liRA Summary (including debt service funds). He noted that investment earnings of between $75,000 to $100,000 are not included in this summary. In the future, the HRA will receive an adjusted report. Noting the disbursement of the $500,000 for purchase of the industrial land (Otter Creek) in December and the property tax revenues from the decertified/closed TIF Districts, the balance of the HRA General fund is $453,424 and the balance of the combined '('IF Districts is $1,724,317. Koropchak noted the balances of Redevelopment District Nos. 5 and 6 and its use as non-restrictive funds for purpose of redevelopment. Brad Barger made a motion to accept the 2004 financial reports of the HRA General Fund and TIF Districts Fund. Dan Frie seconded the motion and with no further discussion, the motion carried. 3 . . . 10. HRA Minutes - 04/06/05 Consideration to authorize payment of HRA bills. Steve Andrews made a motion to authorize payment of the monthly lIRA bills. Brad Barger seconded the motion and with no further discussion, the motion carried. 11. Consideration of Executive Director's Report. 12. The commissioners accepted the written report of the Executive Director. Council Liaison Mayer informed the HRA ofthe IDe's recommendation for the Council to authorize moving forward to research fiber optic service options for Monticello. This to be on the Council agenda of April 11 ,2005. He suggested the City provide the backbone, foresces fiber optics as a marketing tool for recruiting of high-end paying jobs and an opportune time to install with the extension/installation of the storm sewer line. The HRA members agreed flber optics would set Monticello apart from other cities or bc unique. Committee Reports. Koropchak reported a Billboard Contract is in place. One billboard for five months beginning in July through November rotating in three locations along thc right side, east bound 1-94 between Maple Grove and Rogers. Additionally, the Marketing Committee has leascd a booth at the Minneapolis Convention Center for May 3-5 to participate in the Expo ofthc Society of Manufacturing Engineers. 13. Other Business. A. Update of Public Auction: Frie reported on the public auction attended by Commissioner Fair and himself on March 30. Thc HRA did not purchase the Wurm 8-plex at the auction. Therc were a great numbcr of bidders in attendance as more than one propcrty was to be auctioned. The bid started at $300,000 and the HRA and anothcr individual were the last bidders. With the HRA's authorized top bid of $550,000, the developer (Sam Johnson) was the highest bidder at $575,000. Frie was unsure as to the intent ofthe purchaser for the property 14. Adiournment. With no furthcr business, the HRA meeting adjourned at 7:45 p.m. Vice Chair Executive Director 4 . . . HRA Agenda - 05/04/05 5. Consideration to approve authorization to neeotiate for Durehase the Dropertv loeated at 154 West Broadway. A. Referenee and baeke:round: At thc request of Mayor Herbst, the HRA is asked to approve authorization to negotiate a purchase agreement for the property located at 154 Wcst Broadway. The current owners (Craig and Susan Swiecichowski) of Dino's, purchased the property in January 2002 undcr a Contract for Decd from thc seller (J udy Kruse.). It is my understanding, there are three rental apartments on the second floor which have a month-to-month Icase and are occupied. The currcnt owners are willing to sell the assets and business. According to thc County Auditor's Officc, there arc delinquent property taxes plus penalties for the years 2002 ($1721.38), 2003 ($5,885.41),2004 ($4,173,82) as of the cnd of May 2005. Additionally, the property taxes for the first-half 01'2005 arc not paid. According to the County, thc recorded January 2002 Contract for Deed was in the amount of$120,000 and a Quick Claim Dced was recorded in Deccmber 2002. Attachcd is some information provided by Goeman Realty. Mayor Herbst has been invited to the HRA meeting to inform the commissioners of the Council goals for the downtown area. Things to discuss: Plans for the downtown area and Block 35. Immediate use of the property assuming purchase. (Rent verus demo) Potential relocation rights and benefits of tenants. (Estimate $5,000- $10,000 cach.) Purchase includes assets and business versus potential business relocation rights and benefits. Discuss purchase pricc. (An amount not to exceed.) Source of Funds for purchase. (Suggest Redevclopment District No. 1-5.) Attached is a description of major activities to undcrtake for a public participation process and financial feasibility for the redevelopment of four major downtown blocks as prepared by Ehlers. Cfhis was prepared after a meeting betwcen thc Mayor, Ehlers, O'Ncill, Susie, and Ollic.) Council withdrew authorization to bid for public parking lot improvements on Block 35. Discuss next step. HRA Agenda - 05/04/05 . B. Alternative Action: I. A motion to authorize negotiations for purchase ofthe property located at 154 West Broadway. 2. A motion to deny authorization to negotiate purchase of the property located at 154 West Broadway. 3. A motion to table any action. C. Recommendation: Certainly the HRA can purchase the said property and does have funds to purchase. With the unknown of a future plan, the HRA needs to discuss whether to lease out the property or demolish The City or HRA does not want to purchase and make improvements to substandard property nor do they want to demolish too many propertics (remove blight) prior to a plan and creation of a TIP district. Successful redevelopment projects need to cash now (acquisition and construction costs verus market demand for spacc.) D. SU{lDortinl! Data. . Propcrty information and Ehler's summary. . 2 . 201 West Broadway P.O. Box 325 Monticello. MN 55362 (612) 295-4200 FAX (612) 295..a988 Goeman Realty, Inc. Market Information on subject properties 1. 154 West Broadway, Monticello, Mn. a. List Price $395,000.00 PRESENTLY ON THE MARKET b. 1 ea One Bedroom apartment, 2 ea Two Bedroom apartments c. 3 Apartments at $485.00 - $595.00 - $550.00 - per month respectively d. Heat, Electric & Hot Water Separate. e. Main Level Restaurant and Kitchen area. f. Dino's Cornerstone Cafe & Catering Included. g. See attached MLS listing sheet & Tax Printout h. 2005 Taxable Market Value $147,900 1. Unpaid prior years taxes YES . 2. 154 East Broadway, Monticello, Mn. a. 15 ea One Bedroom apartments at $350.00 plm b. 10 units up and 5 units on main level c. Comer Cafe on Month-to-Month rental now, was 5-year lease. d. $1,000.00 p/m rent on restaurant space e. Building is approx 160 X 40 on irregular shaped lot f. (Bob's Barbershop not part of this building.) g. 2005 Total Taxable Market Value $472,700.00 h. See attached Tax Printout 1. NOT PRESENTLY ON THE MARKET This is the basic information on the subject properties. I am available for any questions you may have regarding the above information or any personal input. I would be happy to represent the Buyer/Buyers in negotiating the purchase of any property. Please feel free to call on me at any time. ~::;y J1~ Daniel L. Goeman CRS GRI GOEMAN REAL TV, Inc. 201 W. Broadway PO Box 325 Monticello, MN. 55362 . . ~~mw est Broadway, Monticello, Mn. . ...._,_.,,''''",'',''m,',;,...,~..,j~\*1 . I,!, ~ I .~, ""'\.1 J. ,t...... } .,1 ,~l' ~\'.: <' ~~ ,'::<'f!~ ' Result 1 of 1. Checked 1. Un-check all L I [1] I Bottom Property Full Display, Commercial/Mixed Use, MLS #: 2355197 r~ 154 Broadway, Monticello, Minnesota 55362 Status: Active List Price:$395,OOO Onginallist Price: $395,000 ~l',\;f,.;~(/r~ MapPoint' ......}1/<<~1. ,-v.r,.,~.. q,~ ~ ~. QI., . ..,. ~~ ~-?t ". 25 .". SlJtr s.. .. ./ ~ 75 rl154 Bro~dw~.y \ I 31/1 C>. 39:'$ I\'~ . ~r 1ft . lr Sf . 'fth '.' Ii ~ .$lift ">' Month.ello I ~SI ;r.1I ~~ t!f f;t '1'(/ 25 I ~B .-:r 1ltl 5'i W ~..' 1'~ ~ t J 4.~',~ "'1;~~l~'\f-~' .re phOtqs are avaUable for this property. . MJ (Click icon to add to Watched Listings) ~QQ~ MiclOsoll Co.,@2QQ4NAVlEQ.1MjorQOT,lnc. Map Page: 31 Map Coord: 02 Directions: 1 Block West Of Intersection Of West Broadway And Hwy 25 In Monticello MLS Area: CMU Style: Current Use: Const Status: Total Units: Foundation Size: Building FinSqFt: Year Built: Acres: Lot Dimensions: 341 - Wright County (Except Buffalo) Apartments and Retail, Business Opport Residential, Restaurant Previously Owned 3 2,496 4,165 1879 TAX INFORMATION Property 10: T1~~0100351!;() Tax Year: 2004 Tax Amt: $3,510 Assess Bat: $2,838 Tax w/assess: $6,348 Assess Pend: Yes Homestead: 24.5x170 List Date: 12109/2004 Received By MLS: 12109/2004 Days On Market: CDOM: General Property Information Legal Desc.nption: Original Plat W24 1/2Ft Of Lt 15 Blk 35 County: Wright School Distri.ct: 882 -Monticello CompleX/Dev {Sub: Lot Description: Road Frontage: zoning: Business/Commercial, Resldentlal-Multl-FOwner Occupied: Accessibility: Other ~marks 'ent Remarks: RESTAURANT WITH 3 APARTMENTS FOR GREAT INCOME. SALE INCLUDES DINO'S CORNERSTONE CAFE &. CATERING. FOR ADDITIONAL INFORMATION PLEASE CALL MATT AT (320)-241-3070. FOR SHOWINGS AFTER OFFICE HRS OR WEEKENDS CALL LISTER(S) PubliC Remarks: RESTAURANT W/3 APARTMENTS FOR GREAT INCOME. SALE INCLUDES DINO'S CORNERSTONE CAFE &. CATERING. INSIDE COMPLETELY REMODELED. NEW ROOF JUST ADDED TO THE OVERHANG. ROOF ON BUILDING ALL NEW IN 1977. Structure Information tit: Baseboard, Forced All I: Natural Gas r Cond: Garage: Oth Prkg: 10 Parking Char: Utilities: Miscellaneous: Sate Includes: Appliances: No. of Ranges: No. of Refrig: Basement: Pool: Amenities.Unit: Exterior: Stucco Fencing: Roof: Water: City Water - Connected Sewer: City Sewer - Connected On-Street Parking Only, Other Electric Separate, Heating Separate, Hot Water Separate Building, Business Units No. of Efficiencies: No. of 1 Bedroom Units: 1 No. of 2 Bedroom Units: 2 No. of 3 Bedroom Units: No. of 1 Room Units: 1 No. of 2 Room Units: 1 No. of 3 Room Units: 1 No. of 4 Room Units: No. of 5 Room Units: No. of 6 Room Units: No. of 7 Room Units: Total Units: 3 Financial Coop8ratingBroker Compensation Buyer Broker Comp: 2.0% Sub-Agent Comp: 0% Facilitator Comp: 0% Variable Rate: N List Type: exclusive Right To Sell ExIsting Mortgage Information Existing Mortgage Amt: Secondary Financing: PrinCipal/Interest: Loan Origination Date: Interest Rate: A2ncial Remarks: ~ers Terms: Cash, Conventional Existing Financing: Agent is Owner?: No Expenses Owner Expense: Tenant Expense: Annual Electric Expense: Annual Repair Expense: Annual Fuel Expense: Annual Trash Expense: Annual Insurance Expense: Annual Water/Sewer Expense: Annual Maintenance Expense: Annuat Caretaker Expense: Annuat Gross Expense: $ Total Annual Expenses: Income Annual Gross Income: Annual Net Income: Monthly Rent, 1 Room Units: Monthly Rent, 2 Room Units: Monthly Rent, 3 Room Units: Monthly Rent, 4 Room Units: Monthty Rent, 5 Room Units: Monthly Rent, 6 Room Units: Monthty Rent, 7 Room Units: Monthly Misc. Income: $ $ $595 $550 $485 Annual Rent, 1 Room Units: Annual Rent, 2 Room Units; Annual Rent, 3 Room Units: Annual Rent, 4 Room Units: Annual Rent, 5 Room Units: Annual Rent, 6 Room Units: Annual Rent, 7 Room Units: Annual Misc. Income: $7,140 $6,600 $5,820 Contact Information Listing Agent: Floyd A Kruse Appointments: 320~241~3070 Listing Office: C;:~9tli:lIMil1l1~s()ti:lRealtY/I"IP Office Phone: 763-295-6000 .5 #: 2355197 Address:: 154 BroadwaYI Monticello, Minnesota 55362 Information Deemed Heliable But Not GII<Hantef!d, C.opYrlght Reqional jlJljLS of f4il"l1l,1' Inc )\11 Hiqhts Res.in/ed. . . . ~WRIGHT COUNTY OF MINNESOTA::;;C,?~~~ Property Information I lit: pl'Operl\: ill!;mllalioll database is lIpdalnl dai~v. rost IIpda[ed:3~]()05 ~ I Assessment I New Search Sales Detail Parcel Data Appraisal Property ID: 155..010..035150 Tax Year: 12005 -=J" \" "IlH'" -l 5 2 J [.,timatcd Land \Iarl~l'l 13,100 15,100 Estimated Buildin(! 'Iarket 21,000 98,700 Estimated Machinl'n ,\Iarl.:ct . o o Exduded Market o o Total Estimated \larkl't 113,800 34,100 Land Limited o o Buildin;.: Limited o o Total Limited o o Cla."irkatiolH Pro pert.' Typ~' RES 1-3 UNITS COMM LAND & BLDGS Home,tead Statu, NON- HOMESTEAD NON- HOMESTEAD Exempt Statu~ Not Exempt Not Exempt l")roperty Information rh,' propcrl\; 1II!;mllmioll datoho5c' is updal,'d dai/v, /,OSllI/,"!Oh'd; 3:: ::005 ..~tt ~ D:O--""II'II":l'J ty~~,~}:m ~ I Sales (I.oJ,lil Property ID: 155-010-035150 Tax Year: 12005 ...:J S'lle Oak Qu;.1 '\lulti-P.lITl'I S.lll' Price ,-\dj Sale Prin Buyer Sella 12/28/2001 u No 120.000 120,000 SWIECICHOWSKl CRAIG KRUSE JUDITH PClrc,;1 DdL\ " Sa1.:-:-; Ddai I ,\" a {JlIbli-: ~~n.h;-: \\ righr COllnl\ is providing a":":6" hJ lllrOnn:llioIllllaillt<llIl.:d b) Wn~hl COUllty for indl\ idu<lJ par..:..:!> or property. I'll i" lU 1\H"matiou j" to b..: n"....d Ii)!' rd,-:r..:u..:c pHrpo"..:" ouly\ Ithou12h r....a"ouall k dTort,; an.: tak..:u tn pllbli~llth,-, IUll,;t dllT.:lIl prup..:rt\ lllJ'tJ!'lllilllOll. Wright COllnty du..:,; lHJI glLlnnk.: a..:(lI[;I":) or Ill.: lIl~lt,-,nal":olltilill..:d h..:r..:iu aud i,; unt r..:.;pou,ibk f'll' llli"ll.;": or llli"iut..:rl'r..:uti'Jll". '1. ~ 1", 1"; '. h f { "'1':1 !; \\'1', '! ~ I : '; Hi III I, . . . t.i1.r WRIGHT COUNTY OF MINNESOTA c,~~,';;~,ii~,~,,='~-'~;::;"('C';;,Sc;;:f:::;:;if.,o,'.=.'-:";"~~c' Pro pert)'" Information Ih,- p/'Opal1; 1111;)17110(;0/1 dafahase is lIpdoled dol/v, rO.H IIf,,/alc'd:3:; :;005 ~~ITaxSlllmll<lrvl.,H"Hlll,~;'I~~ Property I D: 155-010-035150 Tax Y t~ar: 12005 ..:l T'I\;\hl~'\Iarkl'l V,dul' 147.900 T"cd 1m prill ,'Il11'1ll Amount: o 1',1\ Cap'ltit~' Amount: 2,133 Green ,\ae,'? No Tot;ll\~,t Tax: 0.00 Total ~pedah: 0.00 Total Gr..,~ T,\'c 0.00 Pcn;llty Colkrt...d 0,00 Inren"t Colkncd 0,00 la\ Colktll'd l,t ILtlf 0,00 T;l\ Colll.'dcd 2nd Half 0.00 Spel'i<ll \",',,,nwnh Colll-rled 0,00 Pri,'r \ ,',ll" l np,lid'.' Yes WRIGHT COUNTY OF MINNESOTA Propert)' Infol"IIlation "/.;::~. rn.Jr:..:.'."'~'" inli)l'in~..>li(ln dl;fUhl"tSr..' is urd(/r:.:.\.i(!l.ij~'>. /'0.",[ ur(!uh~~.!:3: :i}f)5 ~"~.~I - r 1~~~~'~~~~P.j] L~~~I f",'lI,;.IL'.lt.-1 l~~:...J.,q:,.~~~~~~JiJ Property ID: 155-010-035150 Tax Year: 12005.:.l Pl"Opcny Addrc'.; 154 BROADW A Y W MONTICELLO MN 55362 \Iuni,-ip,dit:; CITY OF MONTICELLO ~dln,,1 Dht: 0882- MONTICELLO O~, lll'r ;'\~Illh': , JUDITII A KRUSE 2909 COUNTY RD 39 NW MAPLE LAKE MN 55358 T;np,l~ rr ,""',1/1"'& .\ddr,''': CRAIG & SUSAN SWIECICHOWSKI PO BOX 535 MONTICELLO MN 55362-0535 Lot: 015 Bind,;: 035 ~('l.til.ln: To" Il,hip: H..nl~r : Plat '.ll1le': ORIGINAL PLAT I)"l'lkd Arr,': 0 1~.~,t1 Ikwriplion: W2-t 112FT OF LT 15 BLK 35 cn~ ~: crJ .u Ll.I C . UJ~ ttj c ..J ~ t,:::; -0 0 g :J:~ U'J .,;: U'J LLI ~ (\) u 0 I-; 0.. C 0 .~ 0.. 'r::; .~ 0.. C) ...... ........, ,.D ;j 0.. ttj (\) ~ ...... 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Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 (612) 337-9300 Tax 10 No. 41-1225694 March 24, 2005 Statement No. 65321 City of Monticello Accounts Payable 505 Walnut Street, Suite 1 Monticello, MN 55362 Through February 28, 2005 MN190-00118 Economic Development TIF (Tapper/Strategic Equipment) 924.00 Total Current Billing: 924.00 . I declare, under penalty of law, that this account, claim or demand is just and correct and that of "a'w;d. OK TO i:JAY? ~ Code: _? \ '?:,. '-~k s 3 ~ . ~ () "-\D Initial ~ _ <-\~~"'o S ."","_.-,~," ,._,~'.'--- . 2 9 ')(\or MAE ,L;,) ,) . Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 (612) 337~9300 41.1225694 March 24, 2005 Invoice # 65321 City of Monticello Accounts Payable 505 Walnut Street, Suite 1 Monticello, MN 55362 MN190-00118 Economic Development TIF (Tapper/Strategic Equipment) Through February 28, 2005 For All Legal Services As Follows: Hours Amount 2/2/2005 JAE Review public hearing notice sent by Susan Landrum. 0.10 15.50 2/4/2005 JAE Review but for findings sent by Ehlers; Phone 0.30 46.50 conversation with Ollie Koropchak 2/10/2005 SJB Review new but-for analysis; phone call with 0 0.75 135.00 Koropchak, M Ruff re same; conference with J Eddington . re contract changes needed 2/10/2005 JAE Review revised "but for" analysis from Mark Ruff; Phone 0.40 62.00 conference with Ollie Koropchak; Request revised cash flow from Mark Ruff; Revise contract. 2/11/2005 JAE E-mail correspondence with Ollie Koropchak; Request to 1.00 155.00 Mark Ruff regarding revised cash flow; Revise contract. 2/14/2005 JAE Receive and review e-mails from Ollie; Phone conversation 1.00 155.00 with Ollie; Revise HRA resolution, create form of subordination agreement and note and send to Ollie. 2/16/2005 SJB Conference with J Eddington re "but for" 0.25 45.00 2/16/2005 JAE Review TIF Plan and City Resolution received from Susan 2.00 310.00 Landrum; Review e-mail correspondence from Susan and Steve Bubul; Revise Resolution and TIF Plan and send comments to Susuan Landrum. Total Services: $ 924.00 . . . . Page: 2 Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 City of Monticello February 28, 2005 Total Services and Disbursements: $ 924.00 . 7. A) B) . . HRA Report - May 2005 Executive Director's Report. C) Monticello Business Center - The Council accepted the Feasibility Study, held a public hearing, ordered the project, approved plans and specs, and authorized advertisement for bids. Bids are to be received on May 6, 2005, for beginning construction May 23,2005 and substantial completion November 2005. (Chelsea Road extension [90 Street to CSAH 39], School Blvd [Chelsea to 1,330 feet southJ and northwest lift station and force main, utilities, and appurtenant work.) Marketing Committee - Registered for the Twin Cities Advanced Productivity Exposition by the Society of Manufacturing Engineers at the Minneapolis Convention Center, May 3-5,2005. Signed Contract for billboard rental along 1-94 between Rogers and Maple Grove beginning July through November, 2005. Website: www.MonticelloLand.com Maps: Location, access and concept of Business Center in draft form. Brochure inserts updated and about ready for print. Mailed 75 gratis invitations for the Chamber Golf Outing, May 19, purchased beverage cart, and will insert granola bars with labels advertising Business Center in Chamber give-away bag. (23 golfers so far, 4/25). Next Expo in November is for medical industry. Yet to do radio talk shows, metro area golf advertising, and erect sign along freeway as infrastructure construction begins. A VR site location - Mayor Herbst and Council member Posusta continue to meet with A V R to assist in finding an alternative relocation site. Would do temporary site if permanent site available near proposed 1-94 and Orchard Road interchange. City working with Xcel to site an interchange location acceptable to both the City and Xcd (security). Dahlheimer Distributing - In conversation with Greg Dahlheimer, they have a purchase agreement to purchase approximately 40 acres in Big Lake Township at the corner of County Road II and Highway 25. Some things to still work out. Monticello made them an oiTer on land for $.95 per acre with no assessments (6 acres) and $1.5& per acres for additional 3 acres. Goal setting and Team Building Meeting - The Council and City Administration staff met on Saturday, April 16, for 5.5 hours to set goals led by an outside consultant. For your information, one of the goals of the Council is to research the potential to combine or merge the HRA and the EDA or merge the HRA and Counci I. Wage and Job Reports to the State of Minnesota - GWJ, Inc, Tapper's, UMC, WSI, and TCDC (City/Federal dollars) satisfied their job and wage commitments. UMC and WSI both exceeded their commitments. See attached. April II, the Council authorized to proceed in exploring fiber optic service options for the City of Monticello as a marketing tool for the industrial park ,md step-up housing.. Next step to bring a consultant or experienced community to educate the Council and staff on provider options. IDC recommended the Council move ahead after a presentation by Council Member Mayer following attendance at a MN FiberFirst Conference. Educational workshop for D) E) F) G) 1 . . . L) M) N) 0) P) HRA Report - May 2005 H) I) Council and staff scheduled for Monday, May 23, 2005,5:00 p.m. April 11, Council withheld authorizing public improvements for Block 35 parking lot. Mayor Herbst interested in proceeding with redevelopment of the four bloeks at the intersection ofHwy. 25 and Broadway. Pluth continues to slowly move iorward on Landmark Square 11. Meeting May 6 with developer and architcct for update on potential redcvelopment of a downtown site (block or partial block.) HRA approved their first Transformation Home Loan. Total of thirteen inquiries, iour or more with possibilities. Response from Medtronic' s. T'hey checked this area for new satellite campus but found the demographic was not right. Will request their targeted demographics. Rainbow Enterprise expanding this year. Electro Industries doing an expansion. IRTI plan to construct a small metal structure for storage of materials. The office building owned by Winkelman Building Corporation located on Thomas Circle has been leased to Pinnacle Financial Group, the third largest collection agency in MN and Iowa. In talking with the sitc manager, Erick Gapinski, some improvements are being made to the building interior and they hope to occupy the building by mid-Mayor June. The headquarters is located in Eden Prairie and an another collection oflice in Iowa. They plan to initially hire 30 people with an ultimate to accommodate 100. Wagc rangc by experience, $8 to $15 per hour. Companies yet to visit: Bondhus, Walbord, and one lead. Thank you note ior breakf~tst mailed to Sunny Fresh. List of officers ior 2005: HRA Chair Darrin Lahr, Vice Chair Dan Fric. EDA Chair Bill Demeules, Vice Chair Barb Schwientek, Treasurer Rick Wolfsteller, Assist Treasurer Ron Hoglund, and Secretary Ollie Koropchak. IDe Chair Dan Olson, Vice Chair Paul Kleinwachter, Secretary Ollie Koropchak. .I) K) 2 03/31/05 THU 16: 44 FAX 7632715249 mlC. INC. 141002 ./ UMC Incorporated Employment Da 3/31/2005 * Actual Actual Job Job'" Job- Jobs Jobs Jobs Wao.e RanQe Retention Creation Creation As of 3/31/2005 Retained Created $10.00 $11.99 2 1 2 2 0 $12.00 $13.99 5 2 2 6 5 1 $14.00 $15.99 6 4 3 11 6 5 $16.00 $17.99 12 4 6 15 12 3 $18.00 $19.99 8 4 17 21 8 13 $20.00 $21.99 17 4 20 17 3 $22.00 20 1 2 44 20 24 TOTALS 10 20 30 119 70 49 e\;:. .. Job Creation Goals from HRA Agreement ** Job Creation Goals from MIF application . . . . . lJ .~~. J; \t\.. <:..~) ~~ 1.1.(11' <.;acl1 oflhc rollowing wug.c calegnries. indic"l.e lIle nlullber or "ctuallobs created <llld/or retained Since the benelil dal\;; ,10(\ the "ctual Iwurly vallie 01. allY empIOl",r-pmvidcd bealth insuranee fnr thnse .iobs. U)nh; It/d/calC.' jol, crCaW!'I in/il//-IIt//(' I'lft/ivalr:t/ts i(l-'IJlI ore lit/able 10 sClwl"UlCjob crealiot/ rn./ofit!l- a!'ld parHime /JI)SIIIO!'l.l'.) Ilollrly \Vage (exclllding henents) Full-time .Ioh Creation ~/ FTE (!!.!!l.Y ifulIahle to slaled as FT/PT) .Ioh Creation .Joh Retention HOllrly Value of He'llth Insurance SC':il.:r.ou~llrrl:rnp. ,1,,1. C, ..mon -----, -,", ...:.-- -^) $ ~~'\~r~c \.:Jb ~' $~)$X.l)l) ~ \1. \IJ..t)O ~(~ t\~~~l~ $1~2,l)() ili~o l~ ~~.~)D ") \\ "),0 ~ C 1) , fj.,GO (d".II,~dler ~ ?-"':i. 0 0 ~ . ~11_ I ) 6 ;/ 1" $ $~- $--~ \1 $ , \ , . \\--- i1 $ 32, Ilns the rccipi<C:1l1 ,H;hiC~I~~ (see (Jucstioll ~ ~l\lld 35) und ILdlilled ,11Inbli~ati()ns slipulated in lh~ ~r~It (ttr~ ~ DYes CJ No L ~O "^'" ....... \ Section 5: Heeipicnts Failin~ to Fulfill Ohligatioo_ (Do nOI COIllI,le/(' this sl!uiun i/voll cumpleled 1/ 01/ ano/her ,'vfll;/F SlIbmit",d IU DeE/)) ]"3. DlIring. Ih8 period .I11IlU.]"y 1.2004 lhrough D~~ellll:x::r 3 I, i004. did your org.lI1izntion h<lv~ nny recipi~nts who I"ai\<.;d tu repolt <lS reqll~'ed by Millll. Slnt. 'i II (,.I.()<)3 anu 'i116.1.9()4? (Murk one) DYes (lm/IC{I/l' Ihl! name a/each recipientjillIing 10 re/)()rl and ,h~ I'ullll! o/.'1lhsidv or/inut/cia/ (lssiSlm/C'e awal'(lt.:d to rhm recipil!nt, "Jiiach addillOt/al pages i/l7l!cessarl') Type or subsidy or i.ls:'ii~U,ll\C~ (.\'ee ()u~.\"Ii()n() ]-J (~ 25.) ~ of sllbsf~l.y Dr i.1S~ISlam;t,,; N.\lne 01' recipienl o No :14, \Jid yOllr org.anizalionhllve allv re~ipiellis' who I.ailed to "ehiev~ uo)' gouls or 1.L111111 <lilY othe," ohllgutt'~.ns ulld~~~cmclll sigll~d Oil or ,liler .IunLlnry I. 2(XI4, that were l.elJllir~d to be I'ullilkd by thc lime; orthis rcpo.-!') (Mark one.) DYes (('ollli'/e/<! ,he rell/ail/de,. oflhis section,) [j Nu (Stup hcre .uld SlIblllill'Jrll110 DEED) ["or queslions 35-3l): Provide; lll'" rollowing infonnaliol11'jrcucll rceiricntl'uiling 10 ILd1i11 goals nl' any olh~r termo oi'an ag:r<;e;ll\cnllhalll'ere; .~~e2!..12~!2.1.:'d by the line: 01' rerortinQ. (II/weh additional i)({ges i/necessw\') 35. In ['ormation on rce.;lpi8nl and agrcement: Typc 01" subsidy or USSlstane.;e; Initial valli<; or subsidy or assistance; Name: ofrccipi~nl in del(lllll ()uISl.lIldill~, value.; ul"subsidy or C\~~-;istallC;c; City/Zip e.;odc 0[' recipicnl SU"ccl addl.~:;" ul' lTe;lpietll .;(,. Ikason(s) 101" dcl~I~;.ll (/\,fork ullthut upplv.)~-'- o rce.;ipl':tlt ccased operation o ree.;ij)\[;ni rc[oe;ale.;d to il dii'lcrl;nl COllllTlI.mity o rce;ipiclit \Va,; linabk lu lill v,lc:ml pnsiLiou.'i U !llller (.ji}(:Clji' reos!)!!) ,-,--~"",---"-",~,,,,~,~~--~^-"----"-'-'-'.~---~~,'"~'.-._"- NI,IH1C:;Olil I \(I~;ilH::;,'> ;\~;"~I';l:\llCI: I"onn (1))/1)1/0')) I 'a~!': :1 01' ) I )I:pl n[" f',Irlf1loVInCI'\I ;\1H,II".col']()!)IIC [k\'\~I!)Pllll~l'1l \ . TAX INCREMENT FINANCING lOAN 1..14 SUBURBAN FINANCIAL REPORT December 31, 2004 LOAN TOTALS ~ 1~14 SUBURBAN Payback began in May, 1993 for 8 years ending in May, 2000. Semi-annual principal and interest payments total $3522.52 for the year. Principal Interest TOTAL ORIGINAL $19,575.00 $6,843.82 $26,418.82 PAID $19,575.00 $6,841.26 $26,416.26 REMAINING $0.00 $2.56 $2.56 ".r~#"-'-'~'~"'.-'''~'''________________~__''''''''''''''''''''''-'-#4IfIIIIr'#''-'-'''''''#'''''''#''''''''''''..oIIII!IIIII''_~''___"".oIjIIIII!IIIII.. . . REVENUES Principal Payback Interest Payback $19,575.00 $6,841.26 TOTAL REVENUES $26,416.26 EXPENDITURES TOTAL EXPENDITURES $0.00 FUND BALANCE FOR TIF 1~14 SUBURBAN * $26,416.26 *funds are available only for public improvements EDA annual reports.xls: 4/14/2005 . TAX INCREMENT FINANCING lOAN 1..12 AROPlAX FINANCIAL REPORT December 31 , 2004 LOAN TOTALS ~ 1 ~12 AROPLAX Payback began in May, 1993 for 9 years ending in November, 2001. Semi~annual principal and interest payments total $2369.30 for the year. Principal Interest TOTAL ORIGINAL $15,000.00 $6,323.59 $21,323.59 PAID $15,000.00 $6,324.52 $21,324.52 REMAINING $0.00 ($0.93) ($0.93) "'~"""""#~----_____~I~"'~''''''#'''''''----''''''''''''~'~'~#~---~''''''~'~#_---'-''''''~#.- REVENUES Principal Payback Interest Payback $15,000.00 $6,324.52 TOTAL REVENUES $21,324.52 EXPENDITURES . TOTAL EXPENDITURES . $0.00 FUND BALANCE FOR TIF 1~12 AROPLAX * $21,324.52 *funds are available only for public improvements EDA annual reports.xls: 4/14/2005