HRA Agenda 08-04-2004
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AGENDA
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Wednesday, August 4, 2004 - 6:00 p.m.
505 Walnut Street - Bridge Room
Commi ssioners:
Chair Bill Fair, Vice Chair Darrin Lahr, Dan Frie, Brad Barger, and Steve
Andrews.
Council Liaison:
Roger Carlson.
Staff: Rick Wolfsteller, Ollie Koropchak, and Angela Schumann.
1.
2.
3.
4.
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5.
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Call to Order.
Consideration to approve the June 14, 2004 BRA minutes.
Consideration of adding or removing items from the agenda.
Consent Agenda.
A. Consideration to adopt a resolution approving the decertification of TIF District No. 1-
13 (Standard Iron & Wire Works, Inc) of the City of Monticello
Consideration to review a Purchase Agreement for acceptance, rejection, or counter-offer for
the property located at 725 West 3 Street.
6. Consideration to review for discussion housing rehabilitation and redevelopment program
criteria from City of Richfield and Crystal.
7. Consideration to discuss request for continued monetary support for industrial development -
2005 Budget Preparation.
8. Consideration to authorize payment of HRA bills.
9. Consideration of Executive Director's Report.
10. Committee Reports.
A. Marketing
B. Small Industrial Group - Discuss letter from United Properties for recommendation.
11. Other Business.
12.
Adjournment.
MINUTES - SPECIAL MEETING
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Monday, June 14, 2004 - 6:00 p.m.
505 Walnut Street - Mississippi Room
Commissioners Present:
Chair Bill Fair, Darrin Lahr, and Steve Andrews.
Commissioners Absent: Brad Barger and Dan Frie.
Council Liaison Absent: Roger Carlson.
Staff Present: Rick Wolfsteller and Ollie Koropchak.
Guests: Mark Ruff; Ehlers & Associates, Inc.
I . Call to Order.
Chair Bill Fair called the special HRA meeting to order at 6:00 p.m. declaring a quorum.
2. Consideration to apProve the June 2,2004 HRA minutes.
CommL~'sioner Andrews made a motion to approve the June 2, 2004 HRA minutes. (''onllnZ:~'sivner
Lahr seconded the motion and with no corrections or additions, the minutes were approved as
written.
3. Consideration of adding or removinf? items from the agenda.
Koropchak requested the addition of two items under 6. Other Business, Authorization to pay HRA bills
and interest to purchase property at 725 West 3 Street.
4. Consideration to a rove a Resolution authorizinn execution of a Tax Increment Pled e
A reement with the Cit of Monticello relatin to 945 000 Taxable G, O. Tax Increment Bonds
Series 2004A.
The BRA is asked to adopt a resolution authorizing execution of a Tax Increment Pledge Agreement with
the City of Monticc/Jo for the $945,000 Taxable G. O. Tax Increment Bonds. The Pledge states the HRA
pledges the tax increment received from TIF District No. ] -22 to the payment of the principal and interest
on the Bonds in an amount sufficient to pay 105% of the principal and interest due. The City Council is
expected to award the sale of the $945,000 Bonds at their regular scheduled meeting at 7:00 p.m.
Initially, in July 200], the City sold temporary Taxable G.O. Tax Increment Bonds in the amount of
$2,150,000. The temporary bonds were for a term of not greater than three years. Unused proceeds
from the 2001 issue is $],308,985.00 resulting in a par amount of$945,000 for the 2004 bonds. The ]-IRA
commissioners were informed of the decision by Barry Fluth on June 1],2004, to not move forward with
the Landmark Square II project due to timing and monetary reasons which reduced the amount of the
current bond sale.
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Mark Ruff, Ehlers & Associates, Inc., reported the lowest bid came in at an interest rate of 5.1 % for the
taxable bonds. Add itionally, he reported the City's Bond Rating by Moody' s improved from a A3 to A2.
Asked about rates for tax exempt bonds, Ruff estimated under 4. ] %.
HRA Minutes - 06-14-04
Commissioner [ahr made a molion 10 approve a resolulion aU/horizing execulion of a Tax Incremenl
Pledge Agreemenl wi! h Ihe Cily 0 fMOnlicelio relaling 10 $945, 000 Taxable General Obligalion Tax
Increment Bond.., Series 2004A Seconded by Commissioner Andrews and with no jirrther
discussion, the motion carried
5. Executive Director's Report.
Koropchak distributed a letter addressed to Barry Fluth summarizing his request to withdraw from the
Landmark Square II project because of timing and monetary reasons. The letter was drafted on the
suggestion of the HRA Attorney.
Koropchak updated the commissioners on the meeting with Bob Cunningham relative to the proposed
Walgreen's project for Block 52. Atthe direction of Walgreen's, TOLD Development has withdrawn
trom redevelopment of Block 52 due high cost of acquisiti on and un wi II in g sellers. Walgreen's remains
interested in Monticello and discussed optional sites both in the downtown area and south of 1-94.
6. Other Business.
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Add on items: Koropchak requested a motion to pay monthly HRA bills as the HRA will not meet until
August. ('ommissioner Lahr made a motion to authorize p(~yment of the monthly HRA bills_
Seconded by Commissioner Andrews and with no further discussion, the motion carried
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Given the commissioners agreed to reserve $461,352 from the T1F District No. 1-22 land sate proceeds
and tax increment earn in gs (outside 5-year rule) forthe purpose of redevelopment projects, Kuropchak
asked the commissioners of the their interest to acquire a honte located at 725 West 3 Street (across Irom
the Legion Club on Elm and 3 Street.) Koropchak informed the commissioners that the Owner called as
she and her husband were in the process of a divorce explaining the house needed repairs. Koropcbak
had ,,-sked for a price but she was unprepared to answer. The commissioners agreed and requested a
purchase offer and if need be Would hold a special meeting for action. Tbe commissioners also agreed on
the importance to first establish a criteria before moving forward on a redevelopment loan or other
program. Working with the Habitat for Humanity or Block 54 projects were possible options. Chair Fair
requested the topic of redevelopment programs be on the August HRA agenda for further discussion and
requested Koropchak call for criteria examples from other communities.
7. Adiournment.
Commissioners [ahr made a molion 10 adjoarn Ihe special HRA meeling. Seconded by Commissioner
Andrews and with nojiJrther business, the meeting (utiourned al 6:20 p.m.
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~-'--~'-'----.~--\-~._, ---~~_._,------._~,-
Ollie Koropchak, Recorder
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4A.
HRA Agenda - 08/04/04
Consideration to adopt resolution approving the decertification of TIF District No. J-
13 (Standard Iron & Wire Works).
A. Reference and Background:
TIF District No. 1-13 was approved as a eleven-year Economic District in 1995 to assist with
the land write-down and site improvement costs for the Standard Iron & Iron Works project.
The pay-as-you-go assistance was in the amount of $311 ,000. Required decertification date is
July 1,2004. Upon completing the 2003 TIF Reports for the State Auditor, the December
31, 2003 outstanding principal balance for TIF District No. 1-13 was $41,957. The last
payment on the pay-as-you-go note was $12,307.40 ($12,170 P) and was issued February 1,
2004. Standard Iron contested the property taxes which were reduced by the County;
therefore, an outstanding balance remains.
B. Alternative Action:
1. A motion to adopt a resolution decertifying TIF District No. 1-13 Standard Iron..
2. A motion to deny adoption of the resolution decertifying TIF District No. 1-13.
3.
A motion to table any action.
C. Recommendation:
Alternative No.1. Required by the Statutes. Housekeeping item.
D. Supporting Data.
Copy of resolution for adoption.
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HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO
STATE OF MINNESOTA
Resolution No.
BEING A RESOt,UTION APPROVING THE DECERTIFICATION OF
TAX INCREMENT FINANCING DISTRICT NO. 1-13
OF THE CITY OF MONTICELLO.
WHEREAS, on September 27 , 1993 the Housing and Redevelopment Authority (the
"Authority") in and for the City of Monticello (the "City") created Tax Increment Finance District No. J.:
li (the "District") within the Central Monticello Redevelopment Project No. I (the "Project"); and
WHEREAS, as of the date hereof all bonds and obligations to which tax increment from the District
have been pledged have been paid in full or deteased and all other costs of the Project have been paid;
and
WHEREAS, the Tax Increment Financing Plan adopt on September 27, 1993 for Tax Increment
Financing District No. 1-13 requires, pursuant to M.S. 469.176, SulxI. I, that the duration of the Tax
Increment Financing District 1-13 will be nine years after the date of receipt by the City of the first tax
increment or cleven years from approval of the tax increment financing plan, whichever is less. and
WHEREAS, the receipt of first tax increment was July I of 1995, and
WHEREAS, September 27, 2004 is eleven years from the approval of the tax increment financing
plan, which is the lesser, and
WHEREAS, the Authority desires by this resolution to cause the decertification due to its expiration of
the District after which all property taxes generated by property within the District will be distributed in
the same manner as all other property taxes beginning July I, 2004.
NOW THEREFORE, 8E IT RESOLVED by the Housing and Redevelopment Authority in and f()r
the City of Monticello, Minnesota, that the Authority's staff shall take such action as is necessary to
cause the County Auditor of Wright County to decertify the District as a tax increment district and to no
longer remit tax increment from the District to the City.
DATED:
,2004
!-IRA Chair
ATTEST:
Executive Director
(Seal)
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HRA Agenda - 08/04/04
5.
Consideration to review a Purchase A2:reement for acceptance. rejection. or counter-
offer for the propertv located at 725 West 3 Street.
A. Reference and backllround:
At the June 14 HRA meeting, the commissioners agreed to consider an offer for the property
locatcd at 725 West 3 Street (corner of Elm and 3 Street.) Real Estate Agent Connie
Marquette, delivered the Purchase Agreement on July 28. Please note item 33. Buyer declines
to have a property inspection performed at Buyer's expense. Purchase "as is". 'fhe agent and
seller both noted to me the house needed work.
I checked the 2005 County estimated market value for this homestead parcel: $116,900 Land
$30,000 and building $86,900. The lot size is 66 ft X 165 ft for total of 10,890 sq ft which is a
typical city lot size.
This house was on the HRA list ofa few years ago. See attached and note value was $59,100.
Like the exterior brick.
B. Alternative Action:
1.
A motion to accept the Purchase Agreement as presented in the amount of $250,000.
2. A motion to reject the Purchase Agreement as presented and not interested.
3. A motion to counter-offer at a price of $ subject to an inspection. The
willingness to waive relocation benefits and provide a statement that the property is
either owner occupied or is vacant and is not being rented to any party.
C. Recommendation:
This could be a great fixer-upper with the brick exterior; however, over-priced. Suggest
inspection first or low-ball counter-offer or let the market play-out and develop housing
program first.
D. Supporting Data:
Copy of Purchase Agreement and photo of house.
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613 4th Street West
Owner Malinda
Vickers
Value: $53,700
725 3rd Street West
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Owner: Robert
Barthel
Value: $59.100
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906 Broadway West
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Owner: Roger
Danielson
Value: $55.900
.
612 4th Street West
Owner: Dick
Bondhus
Value: 38,500
Broadway West Neighborhood
806 Broadway West
Owner: Steve &
Gail Maskowski
Value: $56,600
3
RECEIVED OF
PURCHASE AGREEMENT
This form approved by the Minnesota Assodallon of
REALTORS@. which disdaims any liability
arising out of use or misuse of this form.
@ 2002, Minnesota Association of REALTORS@, Edina. MN
1. Date '7 /; 7/;U; I/tj
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2. Page 1 of
tj?ol3e rT BAr<rUeL @ m~I2./~ STt:-IlyOL c: BAR-Tift-/.._
554D1
'o'J~
Serendipity
. Realty & Financial, Inc.
8 N First St, Ste 121 Minneapolis, MN
3.
4.
5.
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7,
8,
9.
10
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13.
14.
15.
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the sum of
by CHECK CASH
___n-(
before the third business day after acceptance, In the trust account of listing broker but to be returned to Buyer If Purchase
Agreement Is ceJ2.ted, ...A!Jler~e~st !f1o}ley i part payment for the purchase of the property located at:
Street Ad r s: ...).C./!..iUl.A../ W.I
City of C; , County of I"-t
L.egally d~~ _ Oe) / 1LW~~- 0 -<y /
including the following property, if any, owned by Seller and used and located on said property: garden bulbs, plants, shrubs, and
trees; storm sash, storm doors. screens and awnings; window shades, blinds, traverse and curtain and drapery rods; allached lighting
fixtures and bulbs; plumbing fixtures, water heater, heating plants (with any burners, tanks, stokers and other equipment used In
connection therewith). buill-in air conditioning equipment, electronic air filter, water softener OWNED I RENTED I NONE, buill-in
-~---~-(circle "na)~-----~
~ &>-- - Dollars ( )
oney to be deposited upon acceptance of Purchase Agreement by all parties, on or
, State of Minnesota,
17.
18.
19,
20,
21,
22,
23.
.24,
5,
26.
27,
28.
humidifier and dehumidifier, liquid gas tank and controls (if the property of Seller), sump pump; attached television antenna, cable TV Jacks and
wiring; BUILT-INS: dishwashers, garbage disposals, trash compactors, ovens, cook top stoves, microwave oven~, hood fans, interco~s;
ATTACHED: carpeting; mirrors; garage door openers and all controls; smoke detectors; fireplace screens, doors and heatllators; AND: the follOWing
personal property:
)
Dollars,
Whi4Jr~~ to p~ in the ~ (MIing manner: Earnest m~y of
and $ OC../(J ., t.Jt? cash on the date of closing, and
Ihe balance of $ .--- by financing in accord~lth:z2e allached addendum:
Conventional FHA OVA Assumption Contract for Deed Purchase Money Mortgage Other: ' S-
~__,..."_.._,____"",,..,_,_______~_"_~__(Cur/8 aU that app/y)--.----- .......__.__________.m
This Purchase Agreement IS ':~ubjectlo a Contingency Addendum for sale of Buyer's property. (If answer is IS, see attached addendum,)
-(c~"
(If answer is IS NOT, Ihe closing of Buyer's property, if any, may still affect Buyer's ability to obtain financing, if financing Is applicable,)
29,
30.
31. This Purchase AgreementlS~ubjectto cancellation of a previously wrillen Purchase Agreement dated
._.(ci~'
32, This Purchase Agreement .~.~_(~,~0Ubject to a Vacant Land Addendum. (If answer is IS, see allached addendum),
33, Buyer has been made aware of the availability of property inspections, Buyer ele ,,I dedlnes haw a property inspection performed at Buyer's expense,
.~--(CI
34. This Purchase Agreement .~~~~~'"...~OT~bject to an Inspection Addendum, (If answer is IS, see attached addendum.)
DEED/MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver ~.,~~~~.~.~ty Deed _~~!:...~~~~~~~~!!!!.!):--.------------ Deed
joined in by spouse, if any, conveying marketable IIl1e, subject to:
(A) Building and zoning laws, ordinances, state and federal regulations; (B) Restrictions relating to use or improvement of the
property without effective forfeiture provisions; (C) Reservation of any mineral rights by the State of Minnesota; (D) Utility and
drainage easements which do not interfere with existing improvements; (E) Rights of tenants as follows (unless specified, not
subject to tenancies):
(F) Others (Must be specifie .
BUYER SHALL PAY SELLER SHALL PAY on date of closing any deferred real estate taxes (i.e. Green Acres, etc.) or special
(drC/e
assessments, payment of which Is required as a result of the closing of this sale,
35.
36.
37.
38.
39,
40.
41.
42.
43.
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installments
45.
46.
BUYER AND SELLER SHALL PRORATE AS OF THE DATE OF CLOSING
----(cirr:JtJ "",,)
of special assessments certified for payment with the real estate taxes due and payable in the year of closing.
BUYER SHALL AS~~~}sELLER SHALL PAYAm date of closing all other special assessments levied as of the date of this Agreement.
47. BUYER SHALL ASSUME
SELLER SHALL PROVIDE FOR PAYMENT OF pecial assessments pending as of the date of this Agreement
48, for improvements that have been ordered by any assessing authorities, (Seller's provision for payment shall be by
49. payment into escrow of two (2) limes the estimated amount of the assessments, or less as required by Buyer's lender.)
50. Buyer shall pay any unpaid special assessments payable in the year following closing and thereafter. the payment of which is not otherwise
51 hp.rP.ln nrovirtp.rt, ------=.-.
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109.
PURCHASE AGREEMENT
62. Page 2
TITLE & EXAMINATION: Within a reasonable time after acceptance of this Agreement, Seller shall provide
evidence of tille, which shall include proper searches covering bankruptcies, state and federal judgments and liens,
and levied and pending Special Assessments to Buyer or Buyer's designated title service Provider, as follows:
If property is abstract, Seller shall provide either: (1) a commitment for an owner's policy of title insurance on a current
ALTA form issued by an insurer licensed to wrile title insurance in Minnesota. Seller shall pay the cost of an owner's pOlicy including the
entire premium, title examination fee and the costs of evidence of title for such litle insurance policy if no lenders policy is obtained; or only
the additional cost of obtaining a simultaneously issued owner's policy if a lender's policy is obtained. (Buyer
shall pay the premium and the tille examination fee for the lender's policy); or (2) an abstract of title certified to date.
Seller shall pay for all abstracting fees and surrender any abstract in Seller's possession or control to Buyer at closing.
If property is Torrens, Seller shall provide, at Buyer's option and request, either (1) a Registered Property Abstract
(RPA) certified to date; or (2) a commitment for an owner's policy of title insurance on a current ALTA form issued by
an insurer licensed 10 write title insurance in Minnesota. Seller shall be responsible to pay, under either option, only
those costs necessary to prepare the RPA or commitment. Buyer shall, at buyer's option, pay for eilher the Allorney's
Opinion or the title insurance premium and examination fee.
Seller shall use Seller's best efforts to provide marketable title by the date of closing. In the event Seller has not
provided marketable title by the date of closing, Seller shall have an additional 30 days to make title marketable or, in
Ihe alternative, Buyer may waive title defects by wrillen notice to the Seller. In addition to the 30 day extension,
Buyer and Seller may by mutual agreement further extend the closing date. Lacking such extension, either party
may declare this Purchase Agreement null and void; neither party shall be liable for damages hereunder to the other
and earnest money shall be refunded 10 Buyer; Buyer and Seller shall immediately sign a cancellation of Purchase
Agreement.
SUBDIVISION OF LAND: If this sale constilutes or requires a subdivision of land owned by Seller, Seller shall pay
all subdivision expenses and oblain all necessary governmental approvals. Seller warrants the legal description of
the real property to be conveyed has been or will be approved for recording as of the date of closing. Seller warrants
that the buildings are or will be constructed entirely within the boundary lines of the property. Seller warrants
that there is a right of access to the property from a public righl of way. These warranties shall survive the delivery of
the deed or contract for deed.
90.
91.
92.
Seller warrants that prior to Ihe closing, payment in full will have been made for all labor, materials, machinery,
fixtures or lools furnished within the 120 days immediately preceding the closing in connection with construction,
alteration or repair of any structure on or improvement to the property.
93.
94.
95,
96.
Seller warrants that Seller has not received any notice from any governmental authority as to condemnation
proceedings, violation of any law, ordinance or regulation. If the property is subJect to restrictive covenants, Seller
warrants Ihat Seller has not received any notice from any person or authority as to a breach of the covenants. Any
such notices received by Seller will be provided to Buyer immediately.
97.
Seller agrees to allow reasonable access to the property for performance of any surveys or inspections agreed to herein.
98.
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100.
101,
102.
RISK OF LOSS: If there is any loss or damage to the property between the date hereof and the date of closing, for any reason including
fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller. If the property is destroyed
or substantially damaged before the closing date, this Purchase Agreement shall become null and void, at
Buyer's option, and earnest money shall be refunded to Buyer; Buyer and Seller shall immediately sign a
cancellation of Purchase Agreement.
103.
TIME OF ESSENCE: Time is of the essence in Ihis Purchase Agreement.
ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed
by the parties, shall constilute the entire agreement between Seller and Buyer, and supercedes any other written or
oral agreements between Seller and Buyer. This Purchase Agreement can be modified or canceled only in writing signed by
Seller and Buyer or by operation of law. All monetary sums are deemed to be Uniled States currency for purposes of this agreement.
Buyer or seller may be required to pay certain closing costs which may effectively reduce the proceeds from the sale or increase the cash
outlay at closing.
110.
111.
ACCEPTANCE: Buyer understands and agrees thallhis Purchase Agreement is subject to acceptance by Seller in writing. The delivery
of all papers and monies shall be made at the listing broker's office.
112.
113.
114_
DEFAULT: If Buyer defaulls in any of the agreements herein, Seller may terminate this Purchase Agreement, and payments made
hereunder may be retained by Seller as liquidated damages. If this Purchase Agreement is not so
tArmin:ltArl AIIVAr or SAIIp'f n"t~\/ ~AAk ~r.tll~1 rt::lmo:ln~C;. ff'll"" hrA~f'h /"If tni~ AnrAAr"'r'\o,nt t"\r" c::n.Ql""ifil"" no,..fnrt'Y\'!ln.....o. nf thi~
..
124. Sellar shall pa
121. Address
122. Page 3 Date
12ths, ALL, NONE real estate taxes due and payable in the ye~.6 ~/
ft~.~.~~.~~r.__~___~
12ths, ALL, NONE real estate taxes due and payable in the y~D bt! . If the
,
Buyer shall pa PRORATED FROM DAY OF CLOSING,
125.
126.
closing date is chanl1{ld, th~Jeal est xes paid shall, if prorated, be adjusted to the new closing date. Seller warrants taxes due and
payable in the yeardtl6 lwill b - FULL- ART-NON- homestead classification. If part or non-homestead classification is circled,
~ - cirr;/a on6}-----
Seller agrees to pay Buyer at closing $
toward the non-homestead real estate taxes. Buyer agrees to pay any remaining balance of non-homestead taxes when they become
due and payable. Buyer shall pay real estate taxes due and payable in the year following clOSing and thereafter, the payment of which is
not otherwise herein provided. No representations are made concerning the amount of subsequent real estate taxes.
POSSESSION: Seller shall deliver possession of the property not later than c!) 1/ &tl iJ-5' after closing.
All interest, homeowner association dues, rents, fuel oil, liquid petroleum gas and all charges for city water, city sewer, electricity, and
natural gas shall be prorated between the parties as of date of closing. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL
PROPERTY NOT INCLUDED HEREIN from the property by possession date.
127.
128.
129.
130.
131.
132.
133.
134.
135. ENVIRONMENTAL CONCERNS: To the best of the Seller's knowledge there are no hazardous substances, or underground storage
136. tanks, except herein noted:
137.
T THE PROPERTY IS EITHER DIREC OR INDIRECTLY CONNECTED TO:
139. YES 0 NO CITY WATER YES 0 NO
140. SELLER I BUYER AGREES TO PROVIDE WATER QUALITY TEST RESULtS IF REQUIRED BY GOVERNING AUTHORITY AND/OR LENDE
...m--(cirde Oll<l}-m.-
141. SELLER I BUYER AGREES TO PROVIDE, IF REQUIRED BYTHE TERMS OF THIS PURCHASE AGREEMENT OR BY GOVERNIN
....-.--(circJe one)-.-.-
AUTHORITY AND/OR LENDER, A LICENSED INSPECTOR'S SEPTIC SYSTEM INSPECTION REPORT OR NOTICE INDICATING I
THE SYSTEM COMPLIES WITH APPLICABLE REGULATIONS. NOTICE: A VALID CERTIFICATE OF COMPLIANCE FOR TH
SYSTEM MAY SATISFY THIS OBLIGATION. NOTHING IN LINES 141 TO 144 SHALL OBLIGATE SELLER TO UPGRADE, REPAIR 0
REPLACE THE SEPTIC SYSTEM UNLESS OTHERWISE AGREED TO IN THIS PURCHASE AGREEMENT
BUYER HAS RECEIVED THE WELL DISCLOSURE STATEMENT OR A STATEMENT THAT NO WELL EXISTS ON THE PROPERTY
AND A SEPTIC SYSTEM DISCLOSURE STATEMENT OR A STATEMENT THAT NO SEPTIC SYSTEM EXISTS ON OR SERVES TH
PROPERTY, AS REQUIRED BY MINNESOTA STATUTES.
149. SELLER WARRANTS THAT CENTRAL AIR CONDITIONING, HEATING, PLUMBING AND WIRING SYSTEMS USED AND LOCATED ON
150. SAID PROPERTY WILL BE IN WORKING ORDER ON DATE OF CLOSING, EXCEPT AS NOTED IN THIS AGREEMENT
151. BUYER HAS THE RIGHT TO A WALK-THROUGH REVIEW OF THE PROPERTY PRIOR TO CLOSING TO ESTABLISH THAT TH
152. PROPERTY IS IN SUBSTANTIALLY THE SAME CONDITION AS OF THE DATE OF PURCHASE AGREEMENT. SELLER AGREE
153. TO NOTIFY BUYER IMMEDIATELY IN WRITING OF ANY SUBSTANTIVE CHANGES FROM ANY PRIOR REPRESENTATION
154. REGARDING THE PHYSICAL CONDITION OFTHE PROPERTY.
155. BUYER ACKNOWLEDGES THAT NO ORAL REPRESENTATIONS HAVE BEEN MADE REGARDING POSSIBLE PROBLEMS 0
156. WATER IN BASEMENT, OR DAMAGE CAUSED BY WATER OR ICE BUILD-UP ON ROOF OF THE PROPERTY AND BUYER RELlE
157. SOLELY IN THAT REGARD ON THE FOLLOWING STATEMENT SELLER:
158. SELLER ~~./~_~AD A WET BASEMENT AND HA.~,\ HAS NO,!: AD ROOF, WALL OR CEILING DAMAGE CAUSED BY WATE
159. OR ICE BUILD-UP. BUYER ~~S (~~~~T PCEIVED A SELLER'S PROPERTY DISCLOSURE STATEMENT.
160. BUYER HAS RECEIVED THE INSPECTION REPORTS,IF REQUIRED BY MUNICIPALITY.
NO~
-Js Selle:.:s Ag82 Buy~:~c:'~~~~ I Dual Agent I Fac~~ita~or
is Seller's Agent I Buyer's Agent I Dual Agent I Facilitator
_.._-m"-~'---(clrde one) ..____.._.
165.
166.
(Company)
THIS NOTICE DOES NOT SATISFY MINNESOTA STATUTORY AGENCY DISCLOSURE REQUIREMENTS.
DUAL AGENCY REPRESENTATION
PLE,iE CHECK~OFTHE FOLLOWING SELECTIONS
rV Dual Agency representation DOES NOT apply in this transaction. Disregard lines 170-183.
o Dual Agency representation DOES apply in this transaction. Complete the disclosure in lines 171-183.
Broker represents both the Seller(s) and \he Buy~r(s) of ~he property involved in this transaction, which creates a dual agency. Thi
!TIeans that Broker and Its salespersons owe fidUCIary dultes to both Seller(s) and Buyer(s). Because the parties may have conflictin
:~!~~~~~:...~~~.~.~r_~~~...~s _~:I~:~~~o~:.~~ ~r.~~I}~~i~a~~ r~orn_a.?~,oc~ali,~g .e~c1us!v~ly fo~ ~i\h~r par:'Y. .Bro~er cannot act as a dual agent in thi
167.
168.
169.
170.
171.
172.
173.
i7A
.
186.
187.
188.
189.
190. OTHER
191.
192.
. (\ fURCHASE AGREEMENT
184 Add,"" 7 IX ~ ~ ~<;b >;+
185. Page 4 Date: 1. . d13
RECEIVED AND HAD THE OPPORTUNITY TO REVIEW THE ARBITRATION DISCLOSURE AN
EM
BUYER(S)
BUYER(S)
193.
194.
195. Allached are other addenda which are made a part of this Purchase Agreement. (Enter total number of pages of this Purchase
196. Agreement, including addenda, on line 2 of page 1.)
197.
.8.
199.
200.
I, the owner of the property, accept this Agreement and
authorlze the listing broker to withdraw !laid property from
the market, unless Instructed otherwise In writing.
201.
I agree to purchase the property for the prlce and In accordance
with the terms and conditions set forth above.
I have reviewed all pages of this Purcha6e Agreement.
X
(Buyer's Signature)
(Date)
202_
eller's Signature) . .l
2fj\tn'C\ 1~ rl-~~
(Seller's Printed Name)
X
(Buyer's Printed Name)
X
(Social Security Number - optional)
(Marital Status)
203.
~s"'.., ""wri~ Nom"'" ~ 0'';000') (M"~
X ;;:'~L,---;t A /tY
(Buyer's Signature)
(Date)
204.
7- 7)~~ X
(Date)
X
(Buyer's Printed Name)
(Seller's Signature)
205.
/~hrl
)ju~11v /
X
(Social Security Number - optional)
(Marital Status)
x
.07. FINAL ACCEPTANCE DATE
208. THIS IS A LEGALLY BINDING CONTRACT BElWEEN BUYERS AND SELLERS.
209. If YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
(Seller's Printed Name)
206. X
(Social Security Number - optional)
({\
(Marital Status)
.
ARBITRATION DISCLOSURE AND
RESIDENTIAL REAL PROPERTY
ARBITRATION AGREEMENT
This form approved by the Minnesota Association of
REALTORS@, which disclaims any liability arising
out of use or misuse of this form.
@2003, Minnesota Association of REALTORS@. Edina, MN
ARBITRATION DISCLOSURE
You have the right to choose whether to have any disputes about the physical condition of the property that you are buying or
selling decided by binding arbitration or by a court of law. By agreeing to binding arbitration you give up your right to go to court. By
signing the RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT ("ARBITRATION AGREEMENT") below, you agree to
binding arbitration under the Residential Real Property Arbitration System ("Arbitration System") administered by
Construction Arbitration Services, Inc. (CAS) and endorsed by the Minnesota Association of REALTORS@ (MAR), The
ARBITRATION AGREEMENT is enforceable only if it is signed by all buyers, sellers, and licensees representing or assisting the seller
and the buyer, The ARBITRATION AGREEMENT is not part of the purchase agreement. Your purchase agreement will still be
valid whether or not you sign the ARBITRATION AGREEMENT,
The Arbitration System is a private dispute resolution system offered as an alternative to the court system. It is not
government sponsored, CAS and the MAR jointly adopt tile rules that govern the Arbitration System. CAS and the MAR are not
affiliated. Under the ARBITRATION AGREEMENT you must use the arbitration services of CAS.
All disputes about or relating to the physical condition of the property are subject to arbitration under the ARBITRATION
AGREEMENT, This includes claims of fraud, misrepresentation, warranty and negligence. Nothing in this Agreement limits other
rights you may have under Minnesota Statutes 327 A (statutory new home warranties) or under private contracts for warranty
coverage. An agreement to arbitrate does not prevent a party from contacting the Minnesota Department of Commerce, the state
agency that regulates the real estate profession, about licensee compliance with state law,
The administrative fee for the Arbitration System varies depending on the amount of the claim, but it is more than initial court
filing fees. In some cases, conciliation court is cheaper than arbitration. The maximum claim allowed in conciliation court is $7,500.
This amount is subject to future change. In some cases, it is quicker and less expensive to arbitrate disputes than to go to court, but
the time to file your claim and pre-hearing discovery rights are limited, The right to appeal an arbitrator's award is very limited
4mpared to the right to appeal a court decision.
A request for arbitration must be filed within 24 months of the date of the closing on the property or else the claim
annot be pursued, In some cases of fraud, a court or arbitrator may extend the 24 month limitation period provided herein,
A party who wants to arbitrate a dispute files a Demand, along with the appropriate administrative fee, with CAS. CAS notifies
the other party, who may file a response. CAS works with the parties to select and appoint an arbitrator to hear and decide the dispute.
A three-arbitrator panel will be appointed instead of a single arbitrator at the request of any party. The party requesting a panel must
pay an additional fee. Arbitrators have backgrounds in law, real estate, architecture, engineering, construction or other related fields,
Arbitration hearings are usually held at the home site, Parties are notified about the hearing at least 14 days in advance. A
party may be represented by a lawyer at the hearing if he or she gives 5 days advance notice to the other party and to CAS. Each party
may present evidence, including documents or testimony by witnesses. The arbitrator must make any award within 30 days from the
final hearing date. The award must be in writing and may provide any remedy the arbitrator considers just and equitable that is within
the scope of the parties' agreement. The arbitrator does not have to make findings of fact that explain the reason for granting or
denying an award. Tile arbitrator may require the party who does not prevail to pay the administrative fee.
This Arbitration Disclosure provides only a general description of the Arbitration System and a general overview of
the Arbitration System rules. For specific information regarding the adminstrative fee, please see the Fee Schedule located in the
CAS Rules. Copies of the Arbitration System rules are available from CAS by calling (800) 777-8119 Ext. 509 or on the web at
www.cas-usa.org or from your REAL TOR@, If you have any questions about arbitration, call CAS at (800) 777-8119 Ext. 509 or
consult a lawyer,
THIS IS AN OPTIONAL, VOLUNTARY AGREEMENT, READ THE ARBITRATION DISCLOSURE ABOVE IN FULL BEFORE SIGNING,
RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT
-o/J tt.-' (] ./td, <~ L' -'-
For the property located at: / A';"> ...L. oU'7.L<.-r..; {/j-t-1-Z..J
City or;IJ,/p;;z;.L.IIt{/ , County of h-:> . State of Minnesota,
Any dispute between the undersigned parties, or any of them, about or rating to the physical condition of the property covered by the
purchase agreement dated , 20 ~~, including claims of fraud, misrepresentation, warranty and negligence, shall
'e settled by binding arbitration. Construction Arbitration Services, Inc. shall be the arbitration service provider. The rules, in effect at
e time the Demand for arbitration is filed, adopted by Construction Arbitration Services, Inc. and the Minnesota Association of
EALTORS@ shall govern the proceeding(s), This agreement shall survive the delivery of the deed or contract for deed in the
purchase agreement. This Agreement is only enforceable if all buyers, sellers and licensees representing or assisting the buyers and
sellers have agreed to arbitrate as acknowledged by signatures below.
7 . ~ '
. _~;J...5 ~Olj
(Seller's Signature)
(Dole)
(Buyer's Signall,lra)
(Data)
Addendum to Purchase Agreement
Disclosure of Infonnation on Lead-Based
Paint and Lead-Based Paint Hazards
This form approved by the Minnesota Association of REALTORS@.
which disclaims any liability arising out of use or misuse of this form.
@2000 'nnesota Association of REALTORS@, Edina, MN
/ / r Jt/('
r37~~~;
Serendipity
. Realty & Financial. Inc.
B N First St, Ste 121 Minneapolis, MN 55401
Section I: Lead Warning Statement
Every purchaser of any interest in residential real property on which a residential dwelling oos built prior to 1978 is notified that such
property may present exposure to lead from lead.based paint that may place young children at risk of developing lead poisoning. Lead
poisoning in young children may produce permanent neurological damage, induding learning disabilities, reduced intelligence
quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of
any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk
assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards. A risk assessment
or inspection for possible lead-based paint hazards is recommended prior to purchase.
Ster's Disclosure (initial) .
(a) Presence of lead-based paint and/or lead-hased paint hazards (check one below);
I 0 Known lead-based paint and/or lead-based paint hazards are present in the housing (explain).
~ tJy--!~ I 'l(J s I~. 1/
o Seller has no knowledge of lead-based paint and/or lead..oased paint hazards in the housing.
.
(b) Records and reports available to the seller (check one below):
o Seller has provided the purchaser with all available records and reports pertaining to lead-based paint and/or lead-based paint
hazards in the housing (list documents below).
J8J. Seller has no reports or records pertaining to lead-based paint andlor lead-based paint hazards in the housing.
Purchaser's Acknowledgment (initial)
(c) Purchaser has received copies of all information listed under (b) above.
(d) Purchaser has received the pamphlet Protect 'rbur Family from Lead in 'rbur Home.
~ (e) Purchaser has (check one below):
o Received a 10-day opportunity (or mutually agreed upon period) to conduct a risk assessment or inspection for the
presence of lead-based paint and/or lead-based paint hazards. (If checked, see Section /I below); or
18J Waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or
. lead-based paint hazards.
J-.~ate Licensee's Acknowledgment (initial)
C (f) Real estate licensee has informed the seller of the seller's obligations under 42 U.S.C. 4852(d) and is aware of
licensee's responsibility to ensure compliance.
Certification of Accuracy
The lIowing parties ve reviewed the information above and certify, to the best of their knowledge, that the information provided by the
igna ry is t rate. \
Pun;:l\a8er
Data
0818
Purchaser
Data
~
Fl<lal "'1818 Lico........
Oat"
ency (Initial only if first box under Purchaser's Acknowledgment letter (e) ab0v6 is checked.)
This contract is contingent upon a risk assessment or an inspection of the property for the presence of lead..oased paint and/or lead-
_ .. _'" .. _. ._._&_,_l.__,___.l.:___L.~UI...~~~~_I~"~""...:.a..L.:_
.
.
.
BUYER PURCHASING
"AS IS" ADDENDUM
This form approved by the Minnesota Association of
REALTORS@. which disclaims any liability arising
out of use or misuse of this form.
@ 2003 Minne:o, Association of REALTORS@. Edina. MN
1. Date '7/ vZ 77' b f!
2. Page
3. Addendum to Purchase Agreement between parties dated
4. purchase and sale of the property at
5.
. 20 ____, pertaining to the
~~.
6. CONDITION OF PROPERTY: The property being purchased by Buyer. including the dwelling, other
7. improvements. fixtures, appliances and personal property, is not new, and is being purchased "AS IS."
8. (check appropriate box)
9. DBuyer has received and had an opportunity to review the Seller's Property Disclosure Statement;
10. or
11. DBuyer has received and had an opportunity to review the Seller's Disclosure Election form.
12. RIGHT AND DUTY OF INSPECTION: Buyer shall have the right and duty to inspect the property or to
13. have it inspected by a person of Buyer's choice. at Buyer's expense. Buyer shall have the right to make
14. a pre-closing inspection of the property to determine that the property is in the same condition as of the date
15. of this Addendum.
16. SETTLEMENT IS FINAL: It is understood that Buyer accepts the property "AS IS." ANY WARRANTIES OF
17. PHYSICAL CONDITION OF THE PROPERTY CONTAINED IN THIS PURCHASE AGREEMENT ARE
18. VOID. The Seller has no further responsibility or liability with respect to the condition of the property. This
19. provision shall survive delivery of the deed or contract for deed.
20. OTHER:
~
~ _. _ (is l n n
L-'" ~'r_. ." I
.
INSPECTION CONTINGENCY
ADDENDUM
This form approved by the Minnesota Association of
REALTORS@. which disclaims any liability
arising out of use or misuse of this form.
@2003 Minnesota Association of REALTORS@. Edina, MN
1. Date
2. Page
3.
4.
THE PROPERTY, IF NOT NEW, CANNOT BE EXPECTED TO BE IN NEW CONDITION.
ROUTINE MAINTENANCE ITEMS ARE NOT PART OFTHIS ADDENDUM.
5. Addendum to Purchase Agreement between parties dated , 20 , pertaining to the
7., ') -- -I J ,.....,--'l.~.t ~~.4-- ~) - L4/ -j) r-c-?/'"
purchase and sale of the property at 0<.....-, L-!./-,,_::i'7 0'/ C"-,;.c-r..J-l-^---" /.. /c''>1.L/blZ~--:, ././}/'Z" , 7J ')..../ Oof
6.
7.
8. This Purchase Agreement is contingent upon an inspection(s) of the property to determine the condition and
9. performance relative to the intended function of the following checked items:
10. C:::J Basement C:::J Electrical system
11. C:=J Ceilings C:=J Exterior
12. C:::J Central cooling system C:=J Floors
13. C:::J Central heating system c:::J Foundation
14. C:::J Other (specify):
15.
16.
17.
18. C:::J Complete home inspection
c=J Plumbing system
c:::::J Roofs
C:=J Walls
[=::J Windows
19. Any inspection shall be done by an Inspector(s) of Buyer's choice. The Inspector(s) should be qualified to do the
.0. inspection as evidenced by a license or professional designation. Buyer shall satisfy Buyer as to the
1. qualifications of the Inspector(s).
22. Said inspection(s) shall be at the Buyer's sole expense.
23. Seller agrees to make the property reasonably available for said inspection(s).
24. Any inspection or test done by FHA, DVA or any other governmental unit shall be done and paid for in accordance
25. with the applicable regulations and are not part of this Inspection Contingency.
26. For the purposes of this Addendum, "business days" shall end at 11 :59 p.m. and do not include
27. Saturdays, Sundays and state and federal holidays.
28. All inspection(s) shall be done within _ business days of final acceptance of this Purchase Agreement. If Buyer
29. or anyone representing Buyer discovers any defects in the above specified components of the property, Buyer must
30. notify Seller, or Licensee representing or assisting Seller, in writing, describing such defects, withi~ business days
31. after all the inspection(s).
32. If Buyer notifies Seller, or Licensee representing or assisting Seller, of such defects, and if within business
33. days after such notice Buyer and Seller have not agreed in writing as to whether repairs will be performed, defects
34. waived or an adjustment to the purchase price made, the Purchase Agreement will automatically become null and
35. void without further notice required. Buyer and Seller shall immediately sign a Cancellation of Purchase
36. Agreement directing all earnest money paid hereunder to be refunded to Buyer, and thereafter neither party will have
37. any further liability to the other.
38. However, notwithstanding any provision to the contrary or any notice given, the Buyer may unilaterally waive defects,
39. providing that Buyer notifies Seller, or Licensee representing or assisting Seller, of waiver in writing within the time specified.
40. If Buyer fails to have the inspection(s) performed within the time specified above, or does not notify Seller within the time
.1. specified above, then this contingency shall be deemed removed and the Purchase Agreement shall be in full force and effect.
42. Notwithstanding any other provision of this Agreement, Buyer may, based on the inspection(s), declare this Purchase
43. Agreement null and void by so notifying Seller, or Licensee representing or assisting Seller, in writing within
44. _ business days of the inspection(s). In the event Buyer declares the Purchase Agreement null and void, Buyer
45. and Seller shall immediately sign a Cancellation of Purchase Agreement directing all earnest money paid hereunder
46. to be refunded to Buyer.
47. Nothing herein invalidates the warranties agreed to in lines 151-152 of the Minnesota Association of REAL TORS@
- -. - .
.
FOR INFORMATIONAL PURPOSES ONLYTHISIS A PARTIAL REPRINT OF MINNESOTA UNIFORM
CONTRACT FOR DEED BLANK WHICH WILL BE USED AT CLOSING
'5, PREPAYMENT. Unless otherwise provided in this contract, Purchasers shall have the right to fully or partially prepay this contract at any
time without penalty_ Any partial prepayment shall be applied first to payment of amounts then due under this contract, including unpaid
accrued interest, and the balance shall be applied to the principal Installments to be paid in the inverse order of their maturity_ Partial
prepayment shall not postpone the due date of the installments to be paid pursuant to this contract or change the amount of such installments.
7. PROPERTY INSURANCE,
(a)INSURED RISKS AND AMOUNT. Purchasers shall keep all buildings, improvements and fixtures now or later located on or a part of the
Property insured against loss by fire, extended coverage perils, vandalism, malicious mischief and, if applicable, steam boiler explosion
for at least the amount oC___.......__._~ . If any of the buildings, improvements or fixtures are located in a federally designated flood prone
area, and if flood insurance is available for that area, Purchasers shall procure and maintain flood insurance in amounts reasonably
satisfactory to Seller
(b) OTHER TERMS, The Insurance policy shall contain a loss payable clause in favor of Seller which provides that Seller's right to recover
under the insurance shall not be impaired by any acts or omissions of Purchasers or Seller, and that Seller shall otherwise be afforded all
rights and privileges customarily provided a mortgagee under the so-called standard mortgage clause.
(c) NOTICE OF DAMAGE, In the event of damage to the Property by fire or other casualty, Purchasers shall promptly give notice of such
damage to Seller and the insurance company
8. DAMAGE TO THE PROPERTY
(a)APPLlCATlON OF INSURANCE PROCEEDS, if the Property is damaged by fire or other casualty, the insurance proceeds paid on
account of such damage shall be applied to payment of the amounts payable by Purchasers under this contract, even if such amounts
are not then due to be paid, unless Purchasers make a permitted election described in the next paragraph. Such amounts shall be first
applied to unpaid accrued interest and next to the installments to be paid as provided in this contract in the inverse order of their
maturity, Such payment shall not postpone the due date of the installments to be paid pursuant to this contract or change the amount of
such installments, The balance of insurance proceeds, if any. shall be the property of Purchasers,
(b) PURCHASERS' ELECTION TO REBUILD, If Purchasers are not in default under this contract, or after curing any such default, and if
the mortgagees in any prior mortgages and sellers in any prior contracts for deed do not require otherwise, Purchasers may elect to
have that portion of such insurance proceeds necessary to repair, replace or restore thl'l damaged Property (the repair work) deposited
in escrow with a bank or title insurance company qualified to do business in the State of Minnesota, or such other party as may be
mutually agreeable to Seller and Purchasers, The election may only be made by written notice to Seller within sixty days after the
damage occurs, Also, the election will only be permitted if the plans and specifications and contracts for the repair work are approved by
Seller, which approval Seller shall not unreasonably withhold or delay. if such a permilled election is made by Purchasers, Seller and
Purchasers shall jointly deposit. when paid, such insurance proceeds into such escrow. If su.ch insurance proceeds are insufficient for
the repair work, Purchasers shall, before the commencement of the repair work, deposit into such escrow sufficient additional money to
insure the full payment for the repair work, Even if the insurance proceeds are unavailable or are insufficient to pay the cost of the
repair work. Purchasers shall at all times be responsible to pey the full cost of the repair work, All escrowed funds shall be disbursed
by the escrowee in accordance with generally accepted sound construction disbursement procedures. The costs incurred or to be
incurred on account of such escrow shall be deposited by Purchasers into such escrow before the commencement of the repair work
Purchasers shall complete the repair work as soon as reasonably possible and in a good and workmanlike manner, and in any event the
repair work shall be completed by Purchasers within one year after the damage occurs, If, following the completion of and payment for
the repair work, there remain any undisbursed escrow funds, such funds shall be applied to payment of the amounts payable by
Purchasers under this contract in accordance with paragraph 8(a) above.
9. INJURY OR DAMAGE OCCURRING ON THE PROPERTY
(a)L1ABILlTY. Seller shall be free from liability and claims for damages by reason of injuries occurring on or after the date of this
contract to any person or persons or property while on or about the Property. Purchasers shall defend and indemnify SelltH from all
liability loss, costs and obligations, including reasonable attorneys' fees, on account of or arising out of any such injuries, However,
Purchasers shall have no liability or obligation to Seller for such injuries which are caused by the negligence or intentional wrongful
acts or omissions of Seller,
(b) LIABILITY INSURANCE, Purchasers shall, at their own expense, procure and maintain liability insurance against claims for bodily
injury, death and property damage occurring on or about the Property in amounts reasonably satisfactory to Seller and naming Seller
as an additional insured_
10, INSURANCE GENERALLY. The insurance which Purchasers are required to procure and maintain pursuant to paragraphs 7 and 9 of
this contract shall be issued by an insurance company or companies licensed to do business in the State of Minnesota and acceptable to
Seller. The insurance shall be maintained by Purchasers at all times while any amount remains unpaid under this contract. The Insurance
policies shall provide for not less than ten days written notice to Seller before cancellation. non~renewal, terminlltion or change in
coverage, and Purchasers shall deliver to Seller a duplicate original or certificate of such insurance policy or policies.
11. CONDEMNATION, If all or any part of the Property is taken in condemnation proceedings instituted under the power of eminent
domain or is conveyed in lieu thereof under threat of condemnation, the money paid pursuant to such condemnation or conveyance in
lieu thereof shall be applied to payment of the amounts payable by Purchasers under this contract, even if such amounts are not then
due to be paid, Such amounts shall be applied first to unpaid accrued interest and next to the installments to be paid as provided in
this contract In the inverse order of their maturity, Such payment shall not postpone the due date of the installments to be paid
pursuant to this contract or change the amount of such installments, The balance, if any, shall be the property of Purchasers,
12_ WASTE, REPAIR AND LIENS, Purchasers shall not remove or demolish any buildings, improvements or fixtures now or later located
on or a part of the Property. nor shall Purchasers commit or allow waste of the Property, Purchasers shall maintain the Property in good
condition and repair_ Purchasers shall not create or permit to accrue liens or adverse claims against the Property which constitute a
lien or claim against Seller's interest in the Property. Purchasers shall pay to Seller all amounts, costs and expenses, including reason
able attorneys' fees, incurred by Seller to remove any such liens or adverse claims,
13. DEED AND MORTGAGE REGISTRY TAXES. Seller shall, upon Purchasers' full performance of this contract, pay the deed tax due
upon the recording or filing of the deed to be delivered by Seller to Purchasers. The mortgage registry tax due upon the recording or
filing of this contract shall be paid by the party who records or flies this contract; however, this provision shall not impair the right of
Seller to collect from Purchasers the amount of such tax actually paid by Seller as provided in the applicable law governing default
and service of notice of termination of this contract.
14, NOTICE OF ASSIGNMENT. If either Seller or Purchasers assign their interest in the Property, a copy of such assignment shall
promptly be furnished to the non-assigning party,
15. PROTECTION OF INTERESTS, If Purchasers fail to pay any sum of money required under Ihe terms of this contract or fail to
perform any of their obligations as set forth in this contract, Seller may, at Seller's option, pay the same or cause the same to be
performed, or both, and the amounts so paid by Seller and the cost of such performance shall bl: payable at once, with interest at the
rate stated in paragraph 4 of this contract, as an additional amount due Seller under this contract. If there now exists, or If Seller
hereafter creates suffers or permits to accrue, any mortgage, contract for deed, lien or encumbrance against the Property which is not
herein expressly assumed by Purchasers, and provided Purchasers are not in default under this contract, Seller shall timely pay all
amounts due thereon, and it Seller fails to do so, Purchasers may, at their option, pay any such delinquent amounts and deduct the
amounts paid from the installment(s) next coming due under this contract.
16, DEFAULT The time of performance by Purchasers of the terms of this contract is an essential part of this contract. Should Purchasers
fail to timely perform any of the terms of this contract, Seller may, at Seller's option, elect to declare this contract cancelled and
terminated by notice to Purchasers in accordance with applicable law. All right, title and interest acquired under this contract by
Purchasers shall then cease and terminate, and all improvements made upon the Property and all payments made by Purchasers
pursuant to this contract shall belong to Seller as liquidated damages for breach of this contract. Neither the extension of the time for
payment of any sum of money to be paid hereunder nor any waiver by Seller of Seller's rights to declare this contract forfeited by
,..c.~c-......n nf "3Yl\/ hroo'Jo......h c-......."II 10"\ ~n\l ........."'l.nnor '3ff€.ll.,..t <:::Callar'~ ri,.,ht I...... ...-:IInl"'ol thie .........nti"o'JI......t .....................11,['-"'"
"", .....::.f..",dtc- ~llhc-A""IIn.II'\t1\1 ...........lIrrinn "JInrl
72,
73,
74,
75,
76,
77.
78,
79.
80,
81,
82_
83,
84.
85,
86,
87.
88.
89.
90.
91-
92,
93.
94,
95,
96.
97.
98_
99.
100.
101.
102.
103,
104.
~:
.7,
108,
109.
110,
111.
112,
113,
114,
115,
116,
117,
118.
119,
120,
121.
122.
123.
124,
125,
126,
127.
128,
129.
130.
131.
132.
133,
134_
135_
136,
137
138,
139_
140.
.1,
2.
il3,
144.
145.
146,
147.
148.
149.
150,
151,
152,
153,
1l;A
.
.
.
HRA Agenda - 08/04/04
6.
Consideration to review for discussion housine rehabilitation and redevelooment
proeram criteria from Citv of Richfield and Crystal.
A. Reference and backl!round:
Attached is information received from the City of Richfield and Crystal per rcquest. Actually,
Crystal emailed copies of evaluation forms, application forms, etc. No summary has been
completed of thc attached documents for a recommendation. Hopefully, a summary will be
done before thc meeting on Wednesday.
At the June I-IRA meeting, you, the commissioners requested this information for discussion.
.
.
~~-
REMODELING ASSISTANCE IN RICHI 'I\q \OW j6hLctL
vvt-\? q;\ k t60 .
Technical Assistance
In-Person Expert Advice-for FREEt
Where to start? Talk with the Richfield HRA's FREE Remodeling Advisor! Leave Dave Schaffer a message; he'll
visit you in your home to discuss your remodeling possibilities! Need more advice? Dave can connect you with
Paul Brugger, the Richfield BRA's Design Advisor! Call Richfield's Remodeling Connection at 612-861-9772.
Frequently Asked Questions
Got a question? Call 612-861-9772 for Tip Sheets-FREE information on commonly asked questions. Or check
out our web site at www.ci.richfield.mn.us. Look under 'Home & Business', then under 'Remodeling' to fmd all
32 Tip Sheets.
Need a Contractor?
Call 612-861-9772 for the FREE Neighbors Helping Neighbors list-contractors referred by your friends &
neighbors! It's a nice place to start.
Money! Money! Money!
Fix-Up Funds
If your income is $88,000 or less, you can borrow up to $35,000 at a reasonable interest rate for home
improvements. For more information, call Richfield Wells Fargo at 612-316-3201 or Community Revitalization
Resources 612-335-5884. ( Some other lenders may have the product as well.)
GMHC Housing Resource Center-www.HousingResourceCenter.org
Free assistance for home improvements with one-stop shopping for Housing Information-Tailored to Y oUf House
and Your Circumstances. Services range from free in-home/on-site consultation and financing recommendations to
making loans and monitoring projects. First time buyer mortgages are also available.
Southside Office-3749 Cedar Avenue South, Minneapolis, MN 55407; Phone 612-722-7141
Energy Efficiency
Regardless of your income, borrow up to $10,000 at 5.25% to make your home more energy efficient. Replace
doors, windows, insulation, and heating equipment with the Home Energy Loan. Call Community Revitalization
Resources at 612-335-5884 for more information and an application.
AccessibiUty Improvements
The Accessibility Fix-Up Fund provides up to $25,000 to allow a person with a disability make livable
imnrovement.;: to their nronE':rtv Thi<l lo~n hll<l no inp-omE': limit<l Por morE': informlltion P-1I11 Ri~hfip.lc1 Wp.ll" PMon
.
.
TRANSFORMATION HOMES LOAN
2004 Application Package
A "home transformation" means a major home remodel, increasing its livable space and its
value. Residents who enjoy their neighborhood, like the schools, and know the benefits of
the community are choosing to adapt their existing homes to meet their current needs.
The Transformation Homes Loan was developed to provide incentives for homeowners or
home buyers in Richfield to begin major remodeling activity. Program features include:
-+ Remodeling Advisor Services. Dave Schaffer will provide initial
remodeling advice as well as on-going assistance as you plan your project.
An attached letter explains potential services provided. Leave a message
for Dave on the Remodeling Connection: 612-861-9772.
-+ Design Advice Services. Paul Brugger is a design advisor who can meet
you in your home to discuss design options. Such advice may be
particularly useful when you're changing floor layouts or blending in an
addition. Call Paul's answering service at 952-930~6838 and reference the
Richfield remodeling program.
.
-+ The Transformation Loan. The Richfield Housing and Redevelopment
Authority (HRA) characterized the Transformation Loan as an "incentive
loan". The incentive is just a little more financing with terrific terms, so that a
homeowner may feel equipped to move fOlWard on their remodeling project.
To apply for the loan, the cost of your remOdeling project must be $50,000
or more. The loan may be 15% of your remodeling project, when the cost of
remOdeling is $50,000 or more. The maximum loan amount is $15,000. It's
interest-free, and is payable upon sale of your property, or forgiven after 30
years. If you have questions, call 612-861-9778. Funds are limited.
Application Procedure:
1. Prior to startina vour oroiect. obtain this application package which includes the
Remodeling Advisor letter, builder requirements and summary of design
considerations, loan application form, and a Remodeler Form for remodelers who
have not worked under the program previously.
2. Submit a complete application. A commitment of funds can only be made when all
required items have been received. Please note: The City of Richfield's Inspections
Division must approve all building plans, and may have requirements independent
of loan requirements. All setback and zoning requirements must also be met.
3.
Applications will be reviewed on a first-come, first-served basis, with priority being
given to projects that are most ready to move forward. Project readiness will be
determined by those that have completed drawings, have total project funding in
place (e.g. have a loan commitment or have closed on mortgage financing), and/or
have ,a,remodeler"under, ,contract... ,EundingwilLnot,be,held JOLproJects ,thatare .not
ready.
.
1212003
4.
Once an application and other required documents' have been received and
reviewed, a loan commitment will be made. .
Conditions of the Transformation Incentive Loan:
1. Submitted applications will be reviewed for appropriateness and completeness.
Projects generally must be value-added improvements such as expanding space.
Plans will be reviewed for design considerations.
2. The loan will be calculated at up to 15% of the initial contract price if the contract
price for remodeling is $50,000 or more, but not to exceed $15,000. The
commitment of funds is made at the beginning of the project.
3. Funds are 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, measure square footage, and otherwise note the condition of the home
prior to remodeling. This is a one-time report for HRA records and incurs no cost to
the homeowner.
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 will be sent a commitment letter verifying the reservation of funds to be provided
at closing. A copy of the letter may also be provided to your lender. (Wells Fargo
Home Mortgage already has an approved program that allows their mortgage to be
combined with this secondary incentive loan financing.) If you are using some other
form of financing, a closing on the Transformation Loan may occur at City Hall.
7. An HRA staff person will place a sign in your yard that says, "We're Remodeling!"
The sign will be removed upon remodeling completion, or sooner.
8. Upon satisfactory verification of work in progress, or upon completion, payments will
be disbursed at the discretion of the lender or the HRA. If you are obtaining
mortgage financing, your financing will likely be placed in an escrow account held by
the lender. 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.
Please be informed that financial data submitted to the HRA for purposes of the loan
application is considered private, according to Minnesota Statute Chapter 13. However,
the fact that you apply for a loan and the final loan amount are considered public data .
according to the same statute.
1212003
General Remodeler And Design Criteria:
. The HRA does not recommend any particular remodeler. Selected remodelers must
complete a Remodeler Form, and comply with the general criteria established by the
Richfield HRA. "Sweat equity" cannot be included under the Transformation program.
Summary of Remodeler Reauirements
It is the homeowner's responsibiltiy to check on contractors thoroughly before selecting
them. Your builder should:
1. Demonstrate financial capability by providing a statement from a financial institution of
sufficient construction capital.
2. Possess adequate Builder's Risk, Comprehensive General Liability and Worker's
Compensation insurance coverage.
3. Have a written warranty policy to be shared with the homeowner or written evidence of
commitment to perform warranted repairs required by Minnesota State Statute.
If the remodeler has not participated in the Transformation Homes Program previously, the
HRA will require a Remodeler Form to be completed. A form is attached.
Summary of Housina Desian
The HRA will require the following:
1. Each home shall remain a detached single-family dwelling.
.
2. Garage space may be maintained or expanded, but not reduced.
3. The house building lines, roof lines, doors and window placement should minimize
blank wall mass. House and garage orientation to the street must present a
balanced and pleasing view from all sides.
4. Exterior materials should be low maintenance. Masonite type siding materials are
not acceptable.
5. The site must be fully landscaped, including attractively placed foundation plantings
and complete sod installation, lot line to lot line.
6. Adjoining properties must not be disturbed by the construction process. Construction
planning is important since five foot side yard setbacks limit construction space.
7. The construction process, site grading, and the finished structure must improve or
not have a detrimental impact on storm water drainage patterns in the neighborhood.
Re-working an existing site grade to improve neighborhood drainage may be
requested. If a roof is pitched towards neighboring homes, gutters may need to be
installed to divert storm water, in addition to improved grading.
If you would like to consult with someone regarding any remodeling issues, call the
Remodeling Advisor at 612-861-9772.
.
H:Cdadmin:Housing:Trans Loan Application 20Q4.doc
12/2003
.......
MAYOR
MARTIN J, KIRSCH
CITY COUNCIL
JOHN ENGER
SUSAN ROSENBERG
SUZANNE M, SANDAHL
GERTRUDE ULRICH
CITY MANAGER
SAMANTHA ORDUNO
.
.
Community Development Department
RICHFIELD REMODELING ADVISOR
Interested in a free "Home Visit"?
The role of the Richfield Remodeling Advisor is to assist Richfield homeowners (or
potential homeowners) with planning for their remodeling project. This entails a
variety of services depending on the specific interests of each homeowner and the
unique nature of their property. It may be helpful to talk to an unbiased expert,
someone with some technical knowledge, before or after receiving bids from
contractors. This is a free service!
Start with an initial telephone conversation to discuss the ideas or the potential
project. Often this results in a home visit, which includes the following:
. Detailed discussion of homeowners' plans, ideas, and needs.
. A walk-through survey to identify improvement needs and expand on the
homeowner's ideas.
. Preparation of general cost estimates relating to the various improvements.
(Costs can vary dramatically, depending on the contractor and the type of
materials used. The estimate range provided by the Remodeling Advisor is
simply for initial planning purposes.)
. Discussion regarding the role of design on the proposed project, and a
determination of whether detailed design assistance will be useful.
. Provision of a Remodeling Manual and hand-outs that cover how to select a
contractor ~nd financing options.
. Review of value-added improvements as it relates to future market value.
. Summarization of the home visit with preparation of an Action Plan.
. A follow-up phone call to see if you need any further assistance.
Following the home visit, a follow-up call is made by the advisor to monitor progress
and provide additional assistance where needed. This may include:
. A review of potential improvements and direction in setting priorities.
. Help in analyzing estimates or bids secured.
. Additional home visits with the homeowner and contractor to review proposed
improvements and contracts, if needed.
. Referral to a Design Advisor.
'Call Dave' 'Schaffef,'RiclifieIClRembdeling'-Aavlsorat"61'2::'S61:'9772.
The Urban Hometown
6700 PORTLAND AVENUE, RICHFIELD, MINNESOTA 55423 612.861.9760 FAX: 612.861.8974
www.cl.richfleld.mn.u. AN EQUAL OPPORTUNITY EMPLOYER
.
.
.
lRANSFORMA liON HOMES APPLlCA liON FORM
General Information:
Name(s) of Owner(s) (as they appear on title)
Present Address
Phone Number(s)
Future Address (if buying to remodel)
Remodeling Information:
Description of improvements to be done
When do you plan on remodeling?
Name of Architect or Designer
Name of Remodeler
Attach a list of contractors if a general contractor is not being used.
Financing Information:
Estimated amount of contract $
Appraised value of property upon completion (if lender financed) $
Name of Lender
Type of financing (second mortgage/refinance/home equity line, etc.)
Anticipated closing date
Source of financing if not lender financed
Requirements for a complete application:
Check off all that apply; provide explanation for those not completed.
A copy of the cost estimate(s} and description of improvements is attached
Building plans are attached (both floor plans and exterior elevations)
Site plan is attached (for additions that require crawl space or foundation)
Ready to schedule a pre-remodeling condition evaluation (arranged by the Richfield HRA)
Please explain if an item is not checked:
Send completed application and attachments to:
Richfield HRA
6700 Portland Avenue South
Richfield, MN 55423
Attention: Pam Bookhout
To the fullest extent permitted by law, the Homeowner agrees to defend, indemnify and hold
harmless the HRA and the City of Richfield, their officers, agents and employees from and against
all claims, loss, damage, costs and expense arising from bodily or personal injury or sickness,
illness, or death of persons or damage to property resulting from or alleged to have resulted from
the Remodeler's work and operations.
'Owner
..'''Owner
12/2003
.
.
.
3.
4.
5.
6.
RICHFIELD REMODELING PROGRAM
REMODELER FORM
Business Name:
Phone No.:
Fax No.:
Business Address:
Contact Person:
1.
How many years has your company been in business?
2.
In the past three years, what has been the average number of homes your company has
remodeled per year?
In the past three years, what has been the average remodeling contract price by your
company?
Attach copy of your company warranty policy.
If no written policy exists, please acknowledge that you comply with statutory warranties.
Yes No
You agree that you have the ability, at all times during the term of the Remodeling
Contract, to have and keep in force the following minimum insurance coverages:
COVERAGE:
Workers Compensation
Employer's Liability
Comprehensive General
Independent Contractors
Products/Completed
Contractual Liability
Personal Injury Liability
"XCU" Liability (if applicable)
Broad Form Property
Comprehensive Automobile
for owned, hired, and
automobiles
LIMITS:
Statutory
$300,00081 & PO
Included
Included
Included
Included
Included
Included
Included
$300,00081 & PO
You meet Minnesota state licensing requirements. Yes
No
.. OVER ..
12/2003
7.
Please list municipalities in which you have secured remodeling permits
within the past 3...5 years and indicate the name of the City staff person
(building official or other) with whom you had the most contact.
.
1.
2.
3.
8. Provide names, addresses and telephone numbers of five customer
references that we may contact as references.
1.
2.
3.
4.
5.
9. Provide names, addresses and telephone number of three major suppliers or sub.
contractors that we may contact as references.
1.
2.
3.
.
The information contained on this form may be provided to lenders, homeowners,
and others interested in participating in Richfield Remodeling Programs.
By:
Its:
Oate:
[H:Housing:Forms:Remform1 ]
.
12/2003
......
.
MAYOR
MARTIN J. KIRSCH
CITY COUNCIL
JOHN ENGER
SUSAN ROSENBERG
SUZANNE M. SANDAHL
GERTRUDE ULRICH
CITY MANAGER
SAMANTHA ORDUNO
.
.
Community Development Department
Richfield Rediscovered
New Construction Program
Dear Interested Participant:
The Richfield Housing and Redevelopment Authority (HRA) has identified sites that
are candidates for owner-occupied new home construction. Attached are
descriptions of those sites. The process for participation is explained on an attached
sheet; please read all materials carefully.
A lot list is usually prepared once a year, depending on site availability. Since sale of
property to the HRA is voluntary, it is difficult to determine when a list of sites may
actually be possible. If you are still interested in receiving this type of information as
it becomes available, you must call to keep your name on our mailing list. All other
names will be dropped before the next mailing. If you want to keep you name on the
mailing list, please call the HRA office at 612-861-9760.
Thank you for your interest in the Richfield Rediscovered Program.
IMPORTANT INFORMATION
The purchase process for the Richfield Rediscovered Program is new in 2000-2001.
Please read the enclosed information carefully.
Please call Pam Bookhout at 612-861-9760 if you have any questions.
11/2000
h :/cd adm in/housing/formsll-site2
The Urban Hometown
6700 PORTLAND AVENUE, RICHFIELD, MINNESOTA 55423 612.8619760 FAX; 612 8618974
www.cl.rlohfield.mn.us AN EQUAL OPPORTUNITY EMPLOYER
.
.
RICHFIELD REDISCOVERED
PROCEDURE FOR PARTICIPATION
Summary: The objective of the Richfield Rediscovered Program is to provide sites for new homes by
removing very small, poor quality structures on lots throughout Richfield. Properties are purchased
by the Richfield Housing and Redevelopment Authority (HRA) through voluntary sale. Sites are
cleared of the original structure and sold for redevelopment of new homes.
MINIMUM REQUIREMENTS FOR PURCHASING A SITE FROM THE HRA
. The new home must be owner-occupied upon completion. The purchase agreement
(between buyer and builder) and the development agreement (between the builder and
the Richfield HRA) are the two essential contract documents.
. Only "builder/buyer teams" may reserve sites - not a builder nor a buyer on their own.
Under the Richfield Rediscovered program, no builder, builder subcontractor, nor builder
realty agent may occupy or be the end buyer of the property.
. The builder/buyer team will also be required to follow general design and development
criteria established by the HRA. Finished properties must meet or exceed a minimum
value specified for each site.
. End buyers, unless licensed in the trade specified, may not put any sweat equity into the
construction of the foundation, wall/roof framing, shingling, electrical/plumbing/HVAC
systems, nor interior carpentry.
RULES & PROCEDURE FOR MAKING AN OFFER ON A SITE
1. All interested participants on the mailing list receive an information packet by mail.
2. Interested participants form a builder/buyer team, and submit an offer to purchase
a lot by the offer deadline. The highest offer will be accepted; no offer will be
accepted for less than the minimum stated price. If all proposals are for the same
dollar amount, all other things being equal, the first qualified offer will be accepted.
3. For any properties not selected within the offer deadline, proposals will be
accepted on a first~come, first-served basis.
4. Each interested participant may only submit one proposal. All proposals will be
kept confidential. All builder/buyer teams submitting a proposal will be notified by
mail of whether their proposal was selected.
5. The HRA reserves the right to reject any and all offers at its sole discretion.
6. A complete proposal includes: a signed Participation Agreement, a check payable
to the Richfield HRA in the amount of $500 (the program fee), and a completed
Proposal Form. The program fee will be refunded on any unselected proposals.
HOUSING DESIGN AND SITE DEVELOPMENT CRITERIA
House design and street presence are a critical. The HRA will require the following:
1. Each home shall be an owner-occupied single-family dwelling.
2. Each home must have a minimum of three bedrooms and two bathrooms. A two car
garage, attached or detached, must be provided on the site.
. 3. Exterior materials should be low maintenance. Hardboard siding materials (Le. masonite)
are not acceptable.
h :/cdadmin/housing/prodes
4. All building plans must be prepared in consultation with an architect or a qualified .
draftsperson.
5. Important Note: All house plans will be reviewed by the HRA. Issues of design to be
reviewed include: house building lines, roof lines, door and window placement, house
orientation to street, and minimized garage door presence. Street-facing front doors are
required. Window muntins (pane grids) are required on all window styles, for the front of
the house and other street-facing elevations. The HRA will not sell to builder/buyer teams
if design issues have not been resolved to the satisfaction of the HRA.
6. Existing trees must be protected during construction. After construction, the site must be
fully landscaped, including plantings around the foundation and complete sod installation.
New trees to replace any trees removed are required (not necessarily the same kind), and
should be labeled on the required landscape plan.
7. Adjoining properties must not be disturbed by the construction process.
8. The finished buildinas and site qradinq must improve. or not have a detrimental impact on
storm water drainaqe patterns in the neiQhborhood. Gutters will be required on all roof
edges which are pitched toward neighboring homes.
BUILDER REQUIREMENT SUMMARY
The Contract for Private Development requires the builder to:
1. Demonstrate financial capability by providing:
a. A statement from a financial institution of sufficient construction capital;
b. A letter(s) of credit; and
c. A summary of the financial conditions of the company.
.
2. Meet or exceed State requirements for insurance including Builder's Risk,
Comprehensive General Liability and Worker's Compensation Coverage.
3. Have a written warranty policy to be shared with the homeowner to perform warranted
repairs required by Minnesota State Statute.
The builder should anticipate being asked by the HRA to provide references from:
. Five satisfied customers
· Three major suppliers, one being the construction lumber supplier
. Building inspectors from cities in which the builder has constructed new housing
within the past three years.
Preference will be given to licensed builders over inexperienced individuals who want to
general contract.
.
h:/cdadmin/housing/prodes
........
.
.
RICHFIELD REDISCOVERED
PROPOSAL FORM
Name(s) of End Buyer(s):
Current Address:
Telephone Number(s):
Name of Builder:
Type of home under consideration:
D Two story D 1'12 story 0 Single story
Number of Finished Bedrooms:
Number of Finished Bathrooms:
Anticipated finished square footage:
Anticipated construction start:
. Address of selected lot:
Base price of lot
Extra bid over base
Total offer
$
$
$
Submit:
. Proposal Form (after January 5, no
extra bid amount is required; fill in
the base price only)
· Signed Participation Agreement
. $500
(All items must be submitted together to be
considered a complete proposal.)
To:
Richfield HRA
6700 Portland Avenue South
Richfield, MN 55423
Attn: Pam
Office Use Only: Indicate Time and Date Received below.
.
.
.
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RICHFIELD REDISCOVERED
PARTICIPATION AGREEMENT
THIS AGREEMENT is made and entered into this day of , 20_,
by and between THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY
OF RICHFIELD, a body corporate and politic under the laws of the State of Minnesota, having its
principal office at 6700 Portland Avenue, Richfield, Minnesota 55423 (HRA) and
, a Minnesota , having its principal office at
(Developer).
In consideration of the mutual covenants and obligations of the HRA and the Developer,
the parties do hereby covenant and agree as follows:
1. The Developer agrees to pay $500 to the HRA for the right to participate in redevelopment of a
property owned by the HRA in accordance with the guidelines of the HRA's Richfield
Rediscovered Program.
2. In return for $500, the receipt of which from the Developer is hereby acknowledged by the
HRA, the HRA grants to the developer the exclusive right to enter into a contract to redevelop
the property located at and legally described as
in accordance with the HRA's Richfield
Rediscovered Program. This right will expire on , unless, prior
thereto, the Developer and the HRA have executed a Contract for Private Development with
regard to the property.
3. The HRA agrees to negotiate in good faith with the Developer regarding redevelopment of the
property but nothing contained in this Agreement shall require the HRA to enter into a Contract
for Private Development if, at the HRA's sole discretion, it deems such not to be in its best
interest.
4. The fee paid by the Developer to the HRA in connection with this Agreement for participating in
the HRA's Richfield Rediscovered Program is non-refundable, non-transferable to any other
property or site owned by the HRA, and not part of the land sale price.
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD
DEVELOPER
By:
Its: Executive Director
By:
(Name)
Its
(Title)
THIS DOCUMENT DRAFTED BY:
The Housing and Redevelopment
Authority in and for the City of Richfield
6700 Portland Avenue South
Richfield, MN 55423
612-861-9760
[H:cdamin\houslng\rrpartag]
SELECTING THE RIGHT BUILDER
IT'S YOUR CHOICE
e-
1. DETERMINE YOUR NEEDS.
. What size house do you want?
. How much house can you buy?
. Where do you want to live?
. How quickly do you need to move into your new home?
. What style of house do you want - built to your individual specifications or
a standard builder's model?
2. CONDUCT RESEARCH ON VARIOUS BUILDERS.
. Determine which builders construct homes in the area where you would
like to live.
. Check with the Better Business Bureau, Trade Associations, and municipal
building divisions to find out about different builders reputations, possible
violations, awards, complaints, and similar issues.
. Meet the builder to insure that you can get along with and communicate
with your chosen builder, and that the builder really understands what .
you want.
· Acquire the builder's customer list and then talk to some of the customers
to see if they are satisfied with the builder. See if you can, visit some of
the homes.
· Ask your friends and relatives for their recommendations.
· Visit open houses and model homes to see if you like the builder's
product.
· Make sure that the company is headed by a good and experienced
builder.
· Make sure that you understand the warranty and services that a builder
provides.
. Compare the prices of various builders.
· Determine the builder's level of responsibility for subcontractors' work and
who is responsible for correcting problems.
· Get all promises and changes made by builders in writing.
3. SELECT THE BUILDER WHO MEETS ALL OF YOUR NEEDS AND WHO BEST STANDS
UP TO YOUR RESEARCH.
.
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Ollie Koropchak
.
From: John Sutter [john.sutter@ci.crystal.mn.us]
Sent: Wednesday, July 14,20043:33 PM
To: Ollie Koropchak
Subject: EDA scattered site redevelopment program info
As you requested, I have attached the EDA's acquisition policy; a comparison of our current lot sale process
("Request for Proposals") with the process we used before 1999 ("First Come, First Served"); and a list of EDA lot
sales from 1998-present. Also attached in approximate chronological order are the process documents for one of
our recent scattered site redevelopment projects (4641 Douglas Drive North). For more general information, the
EDA's 2003 Annual Report and 2004 Work Program can be found on the Redevelopment page of our city
website, wwwci.crystal.mn,us
Please do not pass these documents on to anyone other than City of Monticello HRA staff and your legal
counsel. I know these documents are classified as public data; however, context is important for people to have
an understanding of what we're doing and why we're doing it. If other parties want to see these documents they
can make a formal request to our City Hall in accordance with the state Data Practices Act. Thanks.
Good luck with your efforts!
- John Sutter, Planner & Redevelopment Coordinator
.
.
7/28/2004
.
.
.
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
SCATTERED SITE REDEVELOPMENT PROGRAM
Afguisition POliCY
A.
Statement of Purpose
This document has been developed as a guidance tool for Program Administration. This
document should not be interpreted as constituting any contractual agreement of liability by the
City or EDA.
B. Program Objectives
Q Replace small lower value housing on scattered sites throughout the City with larger, new,
higher value housing designed for families.
CJ Eliminate the blighting influence of substandard housing, thus improving residential
neighborhoods.
Q Alleviate the shortage of newer, larger, move-up housing consistent with the City's housing
goals as identified in the Comprehensive Plan.
These objectives will be achieved through the acquisition of property and the development of
new single family homes.
C.
Definitions
Q EDA. Economic Development Authority in and for the City of Crystal
Q Voluntary Acquisition. The acquisition (purchase) of real property which results from a
voluntary proposal to sell from an owner in response to an invitation or solicitation for offers
(seller).
Q Developer. Developer or Builder who has entered into a Purchase and Redevelopment
Agreement with the EDA to purchase a specific lot or lots and develop them with new single
family homes.
o End Buyer. The buyer of a new house sold by a developer.
Q Substandard. Containing defects in structural elements or a combination of deficiencies in
essential utilities and facilities, light and ventilation, fire protection including adequate
egress, laYOLlt and condition of interior partitions, or similar factors, which defects or
deficiencies are of suiIicient total significance to justify substantial renovation or clearance;
or would require 15% or more of the cost of construction of a new structure; such
PAGE 1 OF 5
.
.
.
determination may be made on the basis of reasonably available evidence, such as the size,
type, and age of the building, the average cost of plumbing, electrical, or structural repairs, or
other similar evidence; and such determination may be made without an interior inspection or
an independent, expert appraisal of the cost ofrepair and rehabilitation of the building.
D.
Data Privacy
All information secured through the program is subject to the Data Privacy Act, and shall be handled as
is appropriate for publie, private or confidential data, respeetively, in a manner eonsistent with the
provisions of the Act.
E. Acquisition of Property
1. Seller Solicitation Procedures
a. EDA staff will solicit sellers by direet mail, advertisement, or other methods such
as the City Newsletter and Cable 12 news programs. The number of properties
purchased will be determined by the availability of resources and properties.
b.
Sale to the EDA must be on a voluntary basis. Interested potential sellers are
required to respond to the EDA solicitation in writing, with an offer indicating:
r:J an interest in selling their property to the EDA;
o a willingness to waive reloeation benefits;
o a statement that the property is either owner occupied or is vacant and is not
being rented to any party; and
o eonsent to the release of relevant information to potential developers and end
buyers.
c. Owners who have expressed an interest in selling must be contacted to inform
them of the estimated project time line and solicit the required written response.
2. Property Selection Criteria
EDA staff will prepare property fact sheets for properties which owners have expressed
an interest in selling, and make a drive by inspection. Properties will be evaluated based
on the following criteria. To be eligible for acquisition, properties must meet each of the
following criteria:
a. The property is one or more of the following:
r:J Substandard as to condition, size or usage;
u Obsolete and of a faulty design for block and area in which it is loeated;
u A deteriorating factor whieh has caused blight to other adjoining properties; or
o Detrimental to the safety or health of abutting properties in the block.
b.
The site can be developed with a single family home within city code
requirements, including zoning and conformance with the Comprehensive Plan.
PAGE 2 OF 5
c.
The property must be owner-occupied or vacant before the owner should eonsider
offering it to the EDA. Tenant oceupied properties will not be considered for
purehase. In the event that the property was tenant occupied within one year prior
to purchase by the EDA, the seller will be required to furnish documentation of
the reasons for the property becoming vacant such as a copy of the lease, eviction
notices, etc.
.
d. The relationship of the property to other public or private activities does not cause
a negative impact on development. Examples of other activities to be considered
include:
r:J commercial, industrial or other development/redevelopment areas;
r:J street, highway and public utility improvement projects;
r:J storm water flood prevention improvements projects; and
r:J schools, parks or other community facilities.
e. [fthe projeet will be using Community Development Block Grant (CDBO) funds,
then prior to acquisition by the EDA properties over 50 years old must bc
evaluated for historical significance. This will be accomplished by forwarding
general property information and a property photo to the Minnesota Historical
Society (MHS) for review prior to signing a purchasc agreement. The EOA will
not usc CDBG funds to purchase property which qualifics for the National
Registry of Historical Structures as determincd by the MHS.
3.
Property Evaluation Procedures
.
a. Based on the above inf()fmation, EDA staff will identify and recommcnd purchase
ofthc best eandidates for acquisition. Thc following arc among the factors that
will be considcred in that evaluation:
CJ properties must be available to meet the EOA development time frame;
r:J properties with the lowest values, smallest size or poorest conditions should
be considered first;
CJ properties purchased should be equally distributed by location and value
through the City when possible; and
r:J when possible, propcrties should be purchased that minimize costs and
maximize the potential return on investment, such as properties which can be
subdivided into two lots for new houses.
Given the above considerations, each site will be evaluated on a case by case
basis.
b. If COBG funds will be used for the project, EDA staff will contact the owners of
the properties and arrange an inspection of the interior for blight qualification.
c.
EDA staff will conduct an investigation as to the existence of any hazardous
materials on the property. This includes:
r:J a visual inspection;
.
PAGE 3 OF 5
.
o a professional asbestos hazards survey; and
o a statement from the seller regarding any knowledge of the properties use for
production, storage, deposit, or disposal of any toxic or hazardous wastes or
substances or asbestos products whatsoever, during the time seller owned the
property and prior to the date of seller purchased property. Properties with
extraordinary environmental problems or hazards may be considered if the
purchase price is reduced sufficiently to cover increased site clearance and
preparation costs.
d.
If a variance is required to redevelop the property, the EDA may, at its sole
discretion, choose not to acquire the property. This determination will be made
based on the project time lines, available resources, and availability of more
desirable properties which do not require a variance.
4. Establishing Fair Market Value.
.
.
EDA staff will use one or more ofthe following methods to determine the fair market
value in accordance with other applicable policies regarding acquisition of property:
a.
Professional Appraisal. EDA staff orders an appraisal to determine the purchase
priee of the property to present to the seller. The independent fee appraiser will be
carefully instructed to document in specific terms the condition of the property,
obsolescence of the floor plan and related issues. The acceptance of these
conditions in the market place should be discussed in the report and the appraiser's
value judgment should reflect these conditions.
b.
HUD Appraisal. lfthe property is being sold by the U.S. Department of Housing
and Urban Development, and a HUD appraisal has already established a value for
the property, EDA staff may use this as the fair market value for the property.
c.
Hennepin County Assessor's Estimated Market Value. EDA staff uses the
estimated market value as determined by the Hennepin County Assessor for
property tax purposes.
d.
Adjustments to (a), (b) or (c) above. In the event that EDA staff believes that
there is justification to deviate from the fair market value established by one or
more of these methods, reasonable adjustments may be made in the EDA's offer to
the potential seller provided the potential seller is made aware of the original
estimate of fair market value prior to the adjustments. For example:
o A fair market value appraisal represents the appraiser's opinion of value on the
open market in a transaction where the seller would typically have to pay a
significant (50;(1-7%) commission to a real estate broker. In a sale to the EDA,
the seller typically does not have to pay such costs. For this reason, a
reduction of the purchase price to 95% of fair market value could be justified
and may be pursued by EDA staff through direct negotiation with the potential
seller
PAGE 4 OF 5
.
o I-IUD typically offers a 10% discount to the EDA when it purchases a HUD
property, thus reducing the price paid to 90% of HUD's appraised fair market
value.
u An appraisal or assessor's estimate of value may not adequately adjust for the
expenses related to correcting the condition of the structure.
5. Acquisition Procedures
a. When a purchase price has been determined, the seller will be informed of:
o the purchase price;
o how the purchase price was determined;
o that if negotiations fail, and the offer is not accepted, the EDA will not acquire
the property through other means; and
o the date and time of the meeting at which the EDA will decide whether to
make a formal offer to purchase the property.
b. The EDA will consider the purchase of the property. If the EDA authorizes the
purchase, it will execute a Purchase Agreement making the formal offer to
purchase the property. Staff will then forward the Purchase Agreement and
earnest money payment to the seller for them to consider the offer and execute the
agreement. If the seller fails to sign the agreement, the purchase will not proceed.
.
c.
A closing will be scheduled with the seller and EDA staff Typically, the City
Attorney's office will act as the closing agent, although Hun typically secures the
services of a closing agent for transactions involving HUD property.
d. Seller will be requested to assemble or supply all required documentation prior to
closing.
e. Seller will be asked to provide the Abstract of Title or Registered Property
Abstract (as applicable) to the EDA, to facilitate the rendering of a Title Opinion.
The cost of updating the Abstract or RP A will be the paid by the EOA. The EDA
will provide a written receipt when receiving and returning an Abstract or RP A.
EDA Staff will also order an owner's title insurance policy, and wi)] not close
prior to receipt of the title insurance company's ~ommitment to Insure.
f. Seller must be prepared to vacate the property on the day of closing unless
alternate arrangements are made with EDA staff, including rent payments and
assumption of utility expenses for the duration of the late stay.
.
PAGE 5 OF 5
.
.
.
The Process - First Come, First Served (Before Summer 19991
1. EDA staff sets the lot price and minimum value based on our "best guess" of the market.
2. Lots promoted to Buyer/Builder teams only; no sales to builders for speculative homes.
3. Buyer/Builder team brings in initial plans for staff to review (first come, first served).
4. Staff brings initial plans to EDA; if approved, Buyer/Builder puts down $500 deposit.
5. Buyer/Builder submits final plans for EDA approval; if approved, proceed to closing.
6. Lot is sold; house is built; EDA staff verifies that conditions of lot sale are fulfilled.
Advantaqes:
· Allows Buyer/Builder to spend minimal time on their proposal until after the EDA has
given preliminary approval.
· Process is simpler for local residents to understand and seems less bureaucratic.
· Provides greater opportunities for staff and the EDA to have input on the design of
the proposed house.
· Eliminates need for the EDA to compare proposals.
Disadvantaqes:
. First come, first served process reduces competition; may lead to lower lot prices
and new home values.
. Some of our higher value homes have been speculative homes; requiring builders to
have an end buyer unnecessarily eliminates otherwise good proposals.
· Uncertainty regarding the initial house plan; may encourage builder to submit a
"highball" initial plan and then come back in with a scaled down final plan.
· EDA staff are not experts in real estate; do not know enough to set a firm lot price or
new home value without risking that it's out of whack with the market.
· Is not consistent with State law requiring the EDA to hold a public hearing before
selling property (an EDA public hearing would need to be added to this process).
. Requires two EDA meetings; one for the initial plan and another for the required
public hearing and final decision.
.
.
.
The Process - Request for Proposals (After Summer 1999}
1. EDA staff sets price and value targets based on our "best guess" of the market.
2. Lots promoted to licensed builders without regard to end buyer status.
3. Initial letter mailed asking interested parties if they're interested in a particular lot.
4. Staff sends Request for Proposals to interested parties; proposals submitted.
5. Staff forwards qualifying proposals to the EDA with a recommendation.
6. EDA selects a proposal after holding the required public hearing; proceed to closing.
7. Lot is sold; house is built; EDA staff verifies that conditions of lot sale are fulfilled.
Advantaqes:
. Competitive process seems to maximize lot prices and new home values.
. Allowing speculative home proposals widens the field of prospective builders.
. Builders commit to building the house as proposed to the EDA; discourages builders
from submitting a "highball" plan and then trying to scale it back.
. The use of targets rather than firm prices recognizes that EDA staff have limited
knowledge about the real estate market; it encourages builders to make their best
offer based on the market for that place and time rather than relying on a staff
guess.
. Only requires one EDA meeting (which is also the required public hearing).
Disadvantaqes:
. Requires builders to draw up a house plan without knowing if it will be selected.
. Process may seem complex and bureaucratic to local residents.
. The EDA and staff have little input in the design of the house other than the general
guidelines provided in the RFP packet, except that the staff may recommend and the
EDA may require changes to a proposal as a condition of approval.
. EDA typically has to consider competing proposals, which can lead to uncomfortable
situations at the public hearing.
.
.
.
General Comments
Each process has its strengths and weaknesses. When the market is stronger (like it has
been recently), the Request for Proposals process is likely to be very successful in getting the
highest lot prices and new home values. When the market is weaker, builders may not be
willing to submit competing proposals and First Come, First Served might make more sense.
Some questions the EDA might want to discuss:
CI What do you like about the way the program has been working? What do you not like?
CI Which of these processes is preferable at the present time?
I.J Are there changes that could be made to the preferred process that would minimize its
disadvantages while retaining its advantages?
o Are there any other possible processes (besides First Come, First Served and Request for
Proposals) that the EDA would like staff to explore for further discussion?
TiminQ
There are four properties that we expect to have ready to sell in early 2001 using the Request
for Proposals process: 5608 Regent, 3408 Quail, 4833 Douglas and 3200 Adair. Ideally we
would send out the preliminary information sheet in early December, to give the builders time
to talk to potential buyers (or vise versa) and get their proposals completed. Proposals would
be due on February 9th and would be considered by the EDA on February 20th, with closing on
the sale of the lots in late March. Construction would likely begin as soon as the frost is out
and be completed by late summer.
To meet this timetable, we would need the EDA to decide on any changes at its November 21st
meeting (or the December 5th meeting at the very latest). If this is not sufficient time, we could
proceed with this round of lot sales using the current process and consider alternatives for later
rounds in 2001.
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lIRA Agenda - 08/04/04
7.
Consideration to discuss request for continued monetary support for industrial land
development and for Marketinl! Committee - 2005 Budget Preparation.
A. Reference and background:
According to Administrator Wolfsteller, Department lIeads need to turn-in their budget
documentation by August 11,2004, for Budget Year 2005, see attachment. The HRA is
asked to consider two budget requests: 1. Continued matching funds for industrial land
development. 2. Marketing Funds.
CONTINUED MATCHING FtJNDSFOR INDUSTRIAL LAND DEVELOPMENT.
The following is the balance of the reserve fund for industrial land development including the
commitments of2004:
HRA - $500,000 + City - $465,000-$531,600 = About $1 million.
During the lobbying of Council members by the Small Industrial Group for purchase of Otter
Creek property, Council member Stumpf suggested the City and HRA continue to commit and
reserve funds for this purpose. As of the 2003 TIF Reports, the HRA' s two cash cows with
no pooling restrictions are Districts 1-5 Construction Five and 1-6 Raindance. 'fhe combined
fund balance is $606,106. District 1-5 has no obligations and 8 years remaining and District 1-
6 has a remaining obligation of $1 00,000 plus interest and 9 years remaining. Given the advice
of the financial consultants, the HRA should consider closing four decertified Districts in 2004
and returning the excess tax increment to the County. Estimated total amount to return in 2004
is $142,000. Remember the City is reimbursed it's share of the excess increment. Attached is
a copy of the amount returned to the City from the County was $118,090 and earmarked for
the HRA industrial funds. The HRA paid the County $246,002 in 2003.
Bottom-line, the amount available for the HRA to commit for industrial land development is
$606,106 plus the $118,090 for a total of $724, 196 less previous commitments of $500,000
leaving $224,196 f()r matching 2005 HRA commitment.
A motion to commit $100,000 of TIF Funds for industrial land development and request
the City Council match the $100,000 for Budget Year 2005.
HRA Agenda - 08/04/04
.
MARKETING BUDGET
The December 31, 2003 balance oi'the Marketing Committee account was about $29,000. In
2004, the committee has spend approximately $4,000 leaving a balance of $25,000. The last
time any money was requested for this purpose was in 2001 and the Marketing Committec
received $15,000. Once the Otter Creek property is closed, the Marketing Committee plans
to start marketing the city industrial land and perhaps advertise. Should the HRA decide to
develop a housing program, the program would require marketing.
A motion to request or not request for the Marketing
Committee to market for City owned-industrial land and the HRA housing program.
.
.
2
c\\\~
MEMO
MONTICELLO
TO:
FROM:
Department Heads, Supervisors and SWt\
Rick Wolfsteller, City Administrator ~
DATE:
July 21, 2004
RE:
2005 Budget Preparation
We are at that time of the year again where the City Council must adopt a preliminary 2005 budget and
set the tax levy requirements for next year by September 15th. Legislation that established levy limits
has expired and it does not seem like the City will be under any levy limitation next year, other than the
fact, I assume the Council will not want to see taxes increased substantially. Department heads and
supervisors should attempt to keep your budgets in line with last years amounts unless there is an
unusual expenditure being proposed.
.
As a result of the state's efforts to balance their budgets a couple years ago, the City lost over $288,000
in state aid and market value homestead credit payments in 2003 and 2004. We were able to levy back
about 60% of this amount ($170,000) which meant that our taxpayers had to pick this amount up rather
than receiving it through state aid. At this point in time, the City again will not likely receive any state
aid funding, other than the normal state highway aid payments.
Although we are not under levy limits at this time, if the City keeps its'levy increase under all /2%
over last years, or less than $7,063,153, we will not again have to hold a public hearing on the adoption
of the final budget and tax levy that is normally required through the Truth in Taxation law.
Regardless of whether a public hearing is required or not, the Council still has to adopt a preliminary
budget and tax levy by the 15th of September for forwarding to the County Auditor. As a result, this
will require the preliminary budget to be available for Council review at a workshop session prior to
this date.
Based on the process we have used over the past few years, I would anticipate the Council may want to
have one or two workshops before adopting the preliminary budget, the first workshop being possibly
as early as their second Council meeting on August, the 23rd. If the Council holds a workshop session
to discuss the budget before the regular Council meeting that night, staff and department heads would
have to return their budget documents to me by Wednesday August 11 th to allow adequate time for me
to assemble and complete a preliminary budget document that the Council can begin to review by the
last week in August.
.
Attached you will find budget worksheets that pertain to your individual department or funds. As in
the past, there will be some items that I will be preparing, such as depreciations, health insurance costs,
along with an estimate of salary and benefit allocations for most departments. In regards to salaries
Monticello City Hall, 505 Walnut Street, Suite I, Monticello, MN 55362-883] . (763) 295-27] 1. Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362 . (763) 295-3] 70' Fax: (763) 27] -3272
and benefits, please note if there are additional positions you are requesting otherwise I will have the
information for those line items.
Also attached to the worksheets are copies of the first six month expenditure guidelines with more
details that may be helpful for you to determine what expenditures have taken place so far within your
budgets. If anyone would like to have a copy of last years budget worksheets as a reference, please let
me know and I can get them for you.
If anyone has capital outlay items that you would like to included in the 2005 budget, but do not have a
department worksheet to complete, simply make a list of the items, i.e. furniture, equipment, etc. and
return them to me. I will see that it gets incorporated into the property department's budget.
If anyone has questions regarding the budget worksheets or a specific expenditure item, please contact
me. Your cooperation is needed in completing the budget worksheets as soon as possible so that we
can keep on schedule on having our first workshop towards the end of August.
Attachments: Budget Worksheet
Expenditure Guidelines
,
.
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OK TO PAY? O\\,€-
Code:
initial
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Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
Tax 10 No. 41-1225694
June 24, 2004
Statement No. 61954
City of Monticello
Accounts Payable
505 Walnut Street, Suite 1
Monticello, MN 55362
Through May 31 , 2004
MN190-00089 Acquisition of 218 Front StreeUQ'Connor
MN190-00111 Landmark Square Phase II (Masters Fifth Ave. Inc.)
.
I declare, under penalty of law, that this
account. claim or demand is just and correct
and that no part of it has been paid.
~
Signature of Cia nt
.".i
_::;.;;";;:-!~';_." (i,;; ,co ['\\r'f:~ "t:,:;:\\
\ 1""\ \ 'I? :1 n \\~ l\ ~J k~ \. j,.. '.Il!. I'.
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Total Current Billing:
18.00
171.00
189.00
.
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
41-1225694
June 24, 2004
Invoice # 61954
City of Monticello
Accounts Payable
505 Walnut Street, Suite 1
Monticello, MN 55362
MN190-00089 Acquisition of 218 Front Street/O'Connor
Through May 31,2004
For All Legal Services As Follows:
5/14/04 RJL phone call to O. Koropchak
Total Services:
.
OK TO PAY? ~
Code: Q\ '7, l-\ \.; S~~ :~~l:
Initiai
~
Hours
0.10
$
Amount
18.00
18.00
Total Services and Disbursements: $ 18.00
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.
Page: 2
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
City of Monticello
May 31,2004
OKTOPAY? ~
Code:?Y?iq L/51?<61 ?JoLlo
Initial ~
r'W' """'0/"'1'" ::.iI
MN190-00111
Landmark Square Phase II (Masters Fifth Ave. Inc.)
Through May 31.2004
For All Legal Services As Follows:
5/6/04 SJS Phone call with 0 Koropchak; conference with 0 Reinertz
re assessment agreement
5/1 0/04
5/14/04
5/27/04
SJS Phone call with 0 Koropchak re release of LOC
SJS Phone call with 0 Koropchak re status of contract
SJS Phone call with 0 Koropchak re status contract
Total Services:
Hours Amount
0.20 36.00
0.20 36.00
0.25 45.00
0.30 54.00
$ 171.00
e
Total Services and Disbursements: $
171.00
Lt
[I' -\0"-IEr~'I~~\-
..h_.._.,..:::......" I' 1 i
i;' i jl
JUN 2 8 2004 ; L'}
,,__ r"'-'
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._.._..._.......~_..__._"..~..:.._..._....,:~._~~-_..---"
.
.
.
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337.9300
Tax 10 No. 41-1225694
July 22, 2004
Statement No. 62324
City of Monticello
Accounts Payable
505 Walnut Street, Suite 1
Monticello, MN 55362
Through June 30, 2004
MN190-00101 General HRA Matters
MN190-00111 Landmark Square Phase II (Masters Fifth Ave. Inc.)
I declare, under penalty of law, that this
account, claim or demand is just and correct
and that no part of it has been paid.
s;gnat"'~~
r~.-~."~.- "7:.":~-'~'
"
"
'1-:' ._.;;;;.;~
.::, . r "\
".. ~:;"--) i 1 i
;:! ~ I t
, , (
1
/
r
L~~
e! U l.
;1 7 2004
. ,..
,. .'....."... ~.,'~._~-.."_..... '."'~_:
90.00
405.00
Total Current Billing:
495.00
OK TO PAY? oll,tJ
Code: c~ llvl\~~e
Initial &~
-~ .
.
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337.9300
41-1225694
July 22, 2004
Invoice # 62324
City of Monticello
Accounts Payable
505 Walnut Street, Suite 1
Monticello, MN 55362
MN 190-001 01
General HRA Matters
Through June 30, 2004
For All Legal Services As Follows:
6/2/2004 SJB Review email from 0 Koropchak re new economic
development district
Total Services:
.
/'1 ~\, '-\ i()
\..-.\\J Vb 0
o
q\
Hours
0.50
$
Total Services and Disbursements: $
p
.
p-.:- "'1";---;;::-'-~-;:;::-'''''1-'-\~':0'-1f:;'-1~~
I \ It (I _ 1,'-;, f! vi Ie- \ r. "
I. 1.:_........0 ;..~~.;l U J .....=I !~, ,~
" It;), ,.., ---".-'-..,,-.----....-'..-.--~~!,I' , :1,'\'
\ --- ..~ \ ~i \ "3
, , r-.,. '\ ii. \ 1 ~ ~.
I', I C\ ?orJ/l: ,j' t
! ;! '\ cl U l_ (7 '-" ;",..c" \
, , \ t
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. c', ~. ~ ~.:'
L_~-..".."..-
.".' .',.'_w"'~~.....~.._._."U_~' :.,..,.--.1
Amount
90.00
90.00
90.00
.
City of Monticello
June 30, 2004
MN190-00111
Page: 2
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
Landmark Square Phase II (Masters Fifth Ave. Inc.)
Through June 30, 2004
For All Legal Services As Follows:
6/2/2004 SJS Phone call with Koropchak re proposed contract changes
6/3/2004
6/9/2004
6/11/2004
.
6/14/2004
(J \ Y.)
'fn) ~ (r> fC
i . n : ,..__~_~:;2-.-.:~~"_,,
.;IF-,'j: JUL ') 7
IU I..,
I Ci~TC~~-2~I: i,'
SJB Phone call with Koropchak; review contract
SJS Emails to/from 0 Koropchak re status of contract; phone
call with Milotta, Koropchak
SJB Phone call with 0 Koropchak re Fluth decision to
terminate contract
SJS Review/revise confirmation letter re termination
~ I Total Services:
C ~Clv ,~o 10
L\ \.0 J
Hours Amount
0.50 90.00
0.50 90.00
0.75 135.00
0.25 45.00
0.25 45.00
$ 405.00
Total Services and Disbursements: $
._.~.._. "~._.,
405.00
.
.
.
9.
Reports:
HRA Agenda - 08/04/2004
A. Economic Develooment Director:
1)
Otter Creek Crossing, Applicant Otter Creek LLC- Attached is the IDC
recommendation submitted to the Planning Commission for their July 6 meeting. At July
12, 2004, Council mceting, the Council approved a request to re-zone to Regional
Business (B-4) for the 47::1:: acres along 1-94. On July 26, the Council approved a
request for a Comprehensive Plan amendment from Industrial to Commercial.
The Small Group met with Chadwick in June and defined a most southeasterly
boundary line (Chadwick to provide legal) and Small Group identified the first 35-acres
for purchase as the most northwesterly corner, Chelsea Road and West County Road
39 (WSB Inc. to provide legal). Now, waiting for the alignment of Chelsea Road to
describe first 35-aeres. Closing datc????
Monticello Business Center, Applicant Ocello LLC - Attached are comments from
Economic Development Director as submitted to the Planning Commission for their July
6 meeting. At the July 12, 2004, Council meeting, the Council approved a request for
a Comprehensive Plan Amendment and zoning map amendment to accommodate a
change in land use from Light Industrial (n-A) to Regional Business (B-4). 30 acres
along School Blvd and Oakwood Drive (County Rd 117).
BRE news:
Sunny Fresh Foods - Proposed office building expansion on vacated Methodist Church
area.
Westlund Distributing - Tapper has Purchase Agreement on H-Window building.
Closing expected first part of August. Fred and ( met with Bill on July 23.
Suburban and Rainbow Enterprises have plans for expansion this fall.
Aroplax Corporation pre-paid their balloon payment on the EDA real estate loan in
July.
Building once occupied by Fingerhut on the market for lease or sale. WCEDP LaBine
working with two potential users. Water Solutions and a collection agency.
WSlIndustries - The IDC may meet at WSI in October for a welcome and tour of the
facility. ('m working with Mike.
TCDC submitted a July 26,2004, job and wage report for the State/City Grant/Loan
and HRA-TIF. Verification for compliance has not been completed.
Groebner & Associates paid their balloon payment for the EDA Loan in June. Visited
with Joe, company could use more space. They are empty nester now and are looking
for upper scale housing. Nothing available in Monticello.
2)
3)
1
.
.
.
HRA Agenda - 08/04/2004
4)
Leads:
- Distribution Centers - Aldi Grocers - minimum 43 acres. 500,000 warehousing and
400,000 other. 52 cmployecs starting Jan 2007.
- Distribution Center - 500,000 to I million sq ft. 50-75 acres. (Note Target is
looking for site for 1 million sq ft distribution center per Business Journal.)
- 60,000 sq ft manufacturing Plant - Request for Information provided June 9. 25 jobs
within one year, average wage $17.50. Fall response.
- 400,000-500,000 sq ft manufacturing facility - Mailed letter marketing the City of
Monticcllo. June 28, 2004.
- 10,000 sq ft light manufacturing, 8-10 jobs. Welding and assembly. Wants to own.
- Distribution facility out of Fridley - 25,000-30,000 sq feet. 5 acres. Outdoor storage.
Block 35 - It appears the EDA may not move forward with this facade, plaza, and alley
improvement project as some property owners are not interested in EDA assistancc or
plan. Special EOA mecting - July 27.
HRA management:
- Annual TIF Reports to State Auditor complcted and mailed.
- Rcimbursement from County received for TIF District decertified and closed in 2003.
Earmarked for Industrial Development Fund.
- TIF semi-annual pay-as-you-go payments paid August 1,2004.
- Landmark Square II - Brad Johnson called relative to a new TIF District for 2-story
commcrcial project. Haven't had time to total administrative costs for purpose of over-
run or under-run costs. Also, if parccls meet the 15% improvement test for
redevelopment district.
- Builder looking at redevelopment and potential vacation of Palm Street at 4 Street.
- Builder and development looking at redevelopment of Checker Auto and gas station
along Highway 25.
- lIRA to consider request for 2005 City Budgct Preparation on August 4.
City Staff, Council member Carlson, and Xcel/NMC met on July 22 to discuss
prcliminary plans for future construction of dry fuel storage units at the site of the
Monticello plant.
5)
6)
7)
2
q)t\\l
.~
.
RECOMMENDA TION FROM THE IDC
TO THE PLANNING COMMISSION
July 6,2004 Planning Agenda
Public Hearing - Consideration of a request for a zoning map and comprehensive plan
amendment to accommodate a change in land use from Light Industrial (IlA)
to a Commercial/Industrial pun. Applicant: Otter Creek, LLC
At the IDC mecting of June 1, 2004, the members approvcd the following motion of recommendation.
"Recommends the 472: acres of Otter Creek Crossing located to south and adjacent to 1-94
and to the north of the proposed Chelsea Road West be re-zoned from Industrial to
Commercial. Although the IDC recognized the recommendation decreases the amount of land
zoned industrial, they supported the use of commercial as a better use maximizing the exposure
and visibility of the freeway." The recommendation does not identify the use or type of
commercial nor a percentage of commercial within a PUD.
Respectfully submitted by
. \~L~~~
Tom Lindquist
2004 IDC Chair
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FROM IDC
TO THE PLANNING COMMISSION
Rs~ .
July 6, 2004 Planning Agenda
Public Hearing - Consideration of a request for a comprehensive plan amendment
and zoning map amendment to accommodate a change in land-use from Light
Industrial (It-A) to Regional Business (B-4). Applicant: Ocello, LLC
At the IDC meeting of June 1, 2004, the members were unaware of this request coming forward.
Therefore, since the IDC does not meet in July, no recommendation from the IDC is brought forward.
As Economic Development Director, I believe I'm correct in saying that it was the assumption of the
IDC that this parcel would be re-zoned in the future resulting in a reduction of industrial land for sale
within the City and attributed to the IDC and HRA continued request for support to encourage the City
to acquire land for industrial development.
Respectfully submitted by
O~ ~d)~.D~
Ollie Korapchak
Executive Director to the HRA and IDC
CITY OF ,MONTICELLO
ACCOUNTS PAYABLE
505 WALNUT STREET 0 SUITE 1
MONTIGELLO,MN55362
763-295-2711
DATE
17,l
~
NO. 79110
WELLS FARGO BANK
MONTICELLO. MINNESOTA 5sse.. (763) 295-2200
CHECK NO, AMOUNT
07/22/2004 79110
THREE THOUSAND SEVEN HUNDRED FIFTY SEVEN AND '00/100 DOLLARS
$3/757.00
PAYTO
THE
ORDER
OF
BBF PROPERTIES
BARRY FLUTH
2 04 LOCUST .sTREET
MONTICELLOiMN55362
?:~
C. it.- (,'J .,~'
."'. .:".\.,..~j.Mt'"
1110 7 g :I. :I. 0 III I: 0 g :I. 0000 :I. g I:
71;0 00:1. ?1I1
213.46522;6511
07/22/2004
CHECK
79110
VENDOR 001295 BBF PROPERTIES
TIFl-22
3 / 757. 0 0
TOTAL
3 1757..00
.
.
./
CITY OF MONTICEllO' MONTICELLO, MN 55362
(
17,1
9TI)'
CITY OF MONTICELLO
ACCOUNTS PAYABLE
,505 WALNUT STREET. SUITE 1
MONTIGELLO;MN 55362
763~295-2711
DATE
,NO. 79115
WELLS FARGO ,BANK
MONTICELlO. MINNESOTA 5SS6. '(763) 295,2290
CHECK NO. AMOUNT
07/22/2004 79115
THREE THOUSAND FOUR HUNDRED FOURTEEN AND 00/100 DOLLARS
$3,414.00
PAY TO
THE
ORDER
OF
BLUE CHI P DEVELOPMENT
105 ,MTSSISSIPPI DRIVE
MONTICELLOMNS5362
~. '
~' '~;
~"",.,),.r:" ,
. . '" ';;iJ,' ,
COMP{C,' ',,',',.,.,',,','... "'," c7J'i l,'{j
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'...".' (I
1110 ? g :I. :I. 5 III I: 0 g :I. 0 0 0 0 :I. g I:
7 I; 0 00:1. ? III
VENDOR 000172 BLUE CHIP DEVELOPMENT COMPANY
CHECK
79115
213.46525.6511
8/1/04
PAYBACK INSTALLMENT 3/414.00
TOTAL
3,414.00
.
.
CITY OF MONTICELLO' MONTICELLO, MN 55362
VENDOR 001114 CEDRUS CREEK CRAFTSMAN, INC
CHECK
79121
~
CITY OF MONTICELLO' MONTICELLO, MN 55362
'CITY >()F'MONTICELLO
ACCOUNTS PAYABLE
505 WALNUT STREET' SUITE 1
MONTICELLO;'MN55362
763-295-2711
DATE
NO. 79147
WELLS FARGO BANK
'MONTICELLO, MINNESOTA ~3B2 '(763)295'2290 '
CHECK NO. AMOUNT
PAY TO
THE
ORDER
OF
FRONT PORCH ASSOCIATES
PO BOX 133B
MONTI CELLOMN 55362
07!22!20047g147
FIVE AND OO/lqO ,WPOLLARS
.~. ' ".,~(~::~~1~':~(
C""~f', j:l.~
,/1 ";~'
.,,~!.}~:~,
$3,865.00
THREE THOUSAND EIGHT .HUNDRED SIXTY
11-0 711 ~'... 7"- 1:011 .0000 ~ 111:
71;0 00. 7"-
VENDOR 002777 FRONT PORCH ASSOCIATES
CHECK
79147
213.46529.6511
8/1/04
PAYBACK INSTALLMENT
TOTAL
3,865.00
.
.
CITY OF MONTICELLO' MONTICELLO, MN 55362
CITYOF'MONTICELLO
ACCOUNTS PAYABLE
505 WALNUT STREET. SUITE 1
MONTICELLO, MN55362
763-295-2711
DATE
17-1
~
NO. 79164
WELLS FARGO BANK
MONTICEllO. MINNESOTA 55362' '(763)295,2290
CHECK NO. AMOUNT
,07 {22(.2 004 79164
TWO THOUSAND NINE HUNDRED FORTY SIX AND 00/100 DOLLARS
$2,946.00
n"!
PAY TO
THE
ORDER
OF
INTEGRATEDRECYCL TECH, INC.
C/O STEVE BUDD
9696 FALLONAVENE
MONTICELLOMN 55362
..,~ <,,{'
" ''''/.~
:;c""_*~ll~r
1110 7 ~ . b le III I: 0 11 ;I. 0 0 0 0 . g I:
7!:tO 00 ~ 7".
VENDOR 002091 INTEGRATED RECYCL TECH, INC.
07/22/2004
CHECK
79164
213,46528.6511
8/1/04
PAYBACK INSTALLMENT 2,946.00
TOTAL
2,946.00
.
.
CITY OF MONTICELLO. MONTICELLO, MN 55362
'CITYOFMONTICELLO
ACCOUNTS PAYABLE
505 WALNUT STREET,-SUITE 1
MONTICELLO, MN 55362
763c295-27t1
DATE
07./22./.2004
THREE THOUSAND EIGHTY FIVE AND 00/100 DOLLARS
17.'
~
:: f
,
A.",....',.",",.. l'",-J
~
. ~.
NO. 79175
.WELLS FA1=IGO BANK
MONTICRLO,MINNES01A55952 '(752) 29&,2290
CHECK NO. AMOUNT
7,9175 $3,085 ,00
PAY TO
THE
ORDER
OF
MASTER'S FIFTH AVENUE, INC
204 LOCUST STR
SUITE 209
MONTICELLO MN 55362
" r_'~":;"i.>;~r!
A~'8:~,\,., '.'f4} ~
((i"n';,: CU~'i:~
.........;ti'
1110711 175111 1:011 10000 .111:
71;0 00. 7111
VENDOR 002731 MASTER'S FIFTH AVENUE, rNC
07/22/2004
CHECK
79175
8/1/04
LANDMK SQUARE PHASE 3, 085. 00
TOTAL
3,0.85.00
.
.
CITY OF MONTICEllO - MONTICELLO, MN 55362
CITY'OF"MONTICELLO
ACCOUNTS PAYABLE
505 WALNUT STREET'. SUITE 1
MONTICELLO,MN55362
763~295c2711
DATE
CHECK NO,
07/22/2004 79217
TENTHOUSAN'D SIX HUNDRED TWENTY TWO AND 54/100 DOLLARS
PAYTO
THE
ORDER
OF
,PRESBYTERIAN HOMES HOUSING
AND'.ASSISTEDLIVING, TNC
2845HAMLTNE AVE NO
" ROSEVILLEMN 55113
51
/::"t'i:)"..;I;,i~~'::"'~'
'""''';'''''J'~
rf;("~"\'\"':\.;,:,!" . <
':',:\" ,fJ9' "
''.J
1110 7 ~ 2 . 711- 1:0 ~ .0000 . ~I:
7 bOO O. 7 III
VENDOR 001217 PRESBYTERIAN HOMES HOUSING
07/22/2004
NO.
79217
AMOUNT
$10,622.54
CHECK
79217
8/1/04
'PAYBACK INSTALLMEN 10,.622.54
TOTAL
CITY OF MONTICELLO. MONTICELLO, MN 55362
10,622.54
r
CITY OF MONTICELLO
ACCOUNTS PAYABLE
505 WALNUTSTREET.SUITE 1
MONTICELLO, MN55362
763-295~2711
17-1 '\
9101
NO. 79230
DATE
07/22/2004
WELLS FARGO BANK
MONTICEllO, MINNESOTA 55Sti2 . (7tiSj295.2290
. CHECK NO. AMOUNT
79230
ELEVEN THOUSAND TEN AND 00/100 DOLLARS
PAYTO
THE
ORDER
OF
STBENEDICT' 8 CENTER
ATTN.:JIM HIATT, ADM
1810 SEMINNESOTA BLVD
ST CLOUDMN56304
",
;k.
\t;J.
II- 0 '? g 2 ~ 0 II- I: 0 g . 0 0 0 0 . g I:
? bOO O. ? II-
VENDOR 001558 8T BENEDICT'S CENTER
07/22/2004
,., "" ,,', '..''',': ",'."""::,"',',:,.,,:', "
.' .......'bk.s.d~I~TToN
213.46524.65"11
TIF 1-24
TOTAL
.
.
CITY OF MONTICELLO. MONTICEllO. MN 55362
$11,010.00
CHECK
79230
11,010.00
11,010.00
CITY OF MONTICELLO
ACCOUNTS PAYABLE
505 WALNUT STREET- SUITE 1
'MONTICELLO,MN55362
763-29,5-2711
NO. 79242
DATE
07/22/2004
WELLS FARGO BANK
MONTICELLO, MINNESOTA 55362' (76S) 295-2290
CHECK NO.. AMOUNT
79242
$700.00
SEVEN HUNDRED AND ,DO/TOO DOLLARS
PAY TO
THE
ORDER
OF
T&MTOMANNFAMILY LTD
500 CHELSEA ROAD
MONTICELLOMN .55362
d
~~f;::;l~'!i~T(
\~~
1110711 21, 2111 1:011 .0000 .gl:
7 bOO O. 7111
VENDOR 002658 T&M TOMANN FAMILY LTD PTNSHIP 07/22/2004
CHECK
79242
213.46531.6511
8/1/04
PAYBACK INSTALLMENT
700.00
":,', .'i:"':...:,,...,....:. :. '
'.INVOicE..'.....,., .',
TOTAL
700,.00
.
.
CITY OF MONTICELLO' MONTICELLO, MN 55362
u'07g 21,~1I. I:Og ~OOOO ~~U:
VENDOR 000456 TWIN CITY DIE CASTINGS CO.
07/22/2004
CHECK
79243
CITY OF MONTICELLO' MONTICELLO, MN 55362
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HRA Agenda - 08/04/2004
Reoorts:
'A. Marketine Committee.
1. Attached are copies of the ads placed in the 2004 Discover Monticello ($650) and 2005
Community Guide ($1,330)) by the Marketing Committee (HRA/IDC),
2. Wright County Economic Development Partnership - Scamble - a golf outing for marketing
and socializing.
B. Small Industrial Group - Discuss letter from United Properties for
recommendation.
Although the City and Chadwick have not closed on the Otter Creek property,
does the HRA have any thoughts relative to the letter from United Properties?
A recommendation?
~ -~
\0 ~ \
.
.
Get in on the ground level and ask about the proposed
dty-owned industrial par/{. Phase 1 scheduled for Spring 2005.
.
\tJf\\
.
Make your mOlm MeBtpIo...
.
"When WSI lndustrill. Inc. made the decision to
expand we checked many possibilites in Mtmticello
and surrounding communities. The fbrmerRemmele
building in Monticello'sIndustrialPark seemed ideal.
Ollie KOflbpthak and other city staffers started work
immediately to help tIUlke this happen. We alei"."
grateful for their support. taking action and making
this move a reality:'
Michael Pudil
President and CEO
WSI Industries. Inc.
WSllndustries, Inc.
purchased an existing
building in 2004
bringing 46 new jobs
to Monticello. The
compeny does
preclaionmachining
andaeaemblies
specializing in avionics
and aerospace,
computer, defense,
power systems and
medical.
Enjoy quality of life within minutes of the metro area and finda'.
stable workforce where residents truly enjoy working and living in
the same community.
Montmeno Marketing:fomrrltee
For industrial site location and financial incentives call:
Ollie Koropchak, Economic Development.Director
763-295-2711
or visit our We site: www. I
.
;:,,":::",
1',:'".1"" ,
~'.
10 A ~
Wright County Economic Development Partnership
.'j ; September 8, 2004
,I' ::1 11:30 a.m.
i,' 12:30 p.m.
.: i ii II' ' 6:30 p.m.
, , 7:00 p.m.
Partnership Members: Golf and Dinner..........nn.......................n...$65.00
Non-members: Golf and Dinner..........................................$95.00
(Sign up by August 1 and receive the Early bird Discount of $85.00)
All Participates: Dinner only.................. 00...00................. ......$ 25.00
At Wild Marsh Golf Club, Buffalo M N
Platinum 11 ~ cO Signs on carts, display banner at club house, name & Logo on
programs, tee box presentation. honorable mention, allowed four
players.
S ~'"D Gold 'tl...\ 'S a Name and logo on programs, honorable mention, tee box presentation
'7 . allowed two players.
~~Silver ~CD - Name and logo on programs, tee box presentation, & allowed one
.. ~ S player.
4 Tee Box Presentations (no golf) members / non-members
Prizes! Prizes! Prizes!
. Highest Score
. Best Game
. Hole In One
. Closest To Pin
. Longest Drive
. Longest Putt
Proceeds raised at the Wright County Promotional Gotf Tournament
will be used to enhance the Business Climate of Wright County.
.
I':~~~;vr), I nfor
'I 1\: (.'''~ r\ l'. I r'1; i-V t.';:,t"' to'
l, . l .," \..,..)' j, f ~ t"j 'tII.....,l,' \..,.' ~
(:) t to r-i'
n-\!~)j
, , t 'i. f
September 8, 2004
Wild Marsh Golf Course
(located in Buffalo on County Rd. 12 off of So. County Rd. 25)
tt,:30 a.rn, - 7:30 p.rn.
t\J (j rnc::
Pt'ionc:
OrganizaTion:
Ernail:
t\dej[cc;ss:
Yes, [;;lrn intele:::,teej in SpolisCii-stll,:<
(Please respond by August 1,2004)
o Tournament Sponsor
o Tee Box Sponsor
Names of Foursorne:
f registering individually you will be assigned a team.)
Total Fees Included:
(Pay before you play)
Mail checks to:
EDP of Wright County, 6800 Electric Drive, Rockford, MN 55313
Co nta ct:
Noel at (763) 477-3086 or Jeanene at (763) 477-3000 ext. 3470
E' rrl C~!. i - jstrum@whe.org or nlabineOwhe.org
FC1A- (763) 477-3054 or
on our VI'Gt)3itc at www.wrightpartnership.org.
Please return by August 1, 2004
Entries & pay received by then will be eligible for a chance
to win 18 hole golf play for NiO!
.
.
.
.
) 1) b
UNITED
PROPERTIES
June 25, 2004
Ms. Ollie Koropchak
Economic Development Director
City of Monticello
505 Walnut Street, Suite 1
Monticello, MN 55362-8831
Dear Ollie:
It was wonderful seeing you again yesterday. United Properties is very interested in
meeting with the City to explore our company's interest in acquiring the industrial portion
of the Chadwick property.
It is our understanding that the City is in the process of acquiring the Chadwick property.
We have separately contacted property owners of other industrial-zoned or guided
property in your City about purchasing their land. However, we are not interested in
acquiring other land in Monticello for industrial development, and have to compete with
the City. Instead, we would be interested in getting involved in one of the following
ways:
1. United Properties could market and develop the Chadwick property on behalf of
the City. We would recognize the City as the property owner, and would provide
you selected real estate services as a consultant.
2. Once you have the Chadwick property under contract, we could assume your
position to purchase the property and be the owner of the land.
3. The City could continue to purchase the Chadwick property and SUbsequently
sell it to United Properties.
United Properties LLC is a privately-owned, full service real estate company based in the
Twin Cities and owned by the Carl Pohlad family. United Properties was established in
1916 and currently has over 450 employees. We offer commercial real estate expertise
in real estate development, investment, brokerage services, construction, and property
management. We are best known for our business park development. Our company
owns or manages in excess of 30 million square feet of commercial real estate in the
Twin Cities, and we were recently named National Developer of the Year, by the
National Association of Industrial and Office Properties.
United Properties has excellent relations with several communities in the Twin Cities.
We would be happy to give you references if so desired.
3500 West 80th Street. Minneapolis. MN 55431 · 952.831.1000 · fax 952.893.8804 · www.uproperties.com
Ms. Ollie Koropchak
June 24, 2004
Page 2
.
We view Monticello as a great community that is currently experiencing abundant
growth. We believe that with your access to Interstate 94, that Monticello will continue to
grow as an industrial market.
We are very interested in discussing with you the possibility of working with you on the
Chadwick property as described above. We look forward to hearing from you about
scheduling a meeting.
~
e g I. Burkards
I
Develqpment
I
C: L Dale Glowa
G I B/b~
.
.