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EDA Agenda - 11/08/2023AGENDA REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, November 08, 2023 — 6:00 p.m. Mississippi Room, Monticello Community Center SPECIAL MEETING — ECONOMIC DEVELOPMENT AUTHORITY 4:00 p.m. - Monticello Community Center • EDA Land Holdings Strategic Planning and Development Objectives Commissioners: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, 011ie Koropchak-White, Rick Barger and Councilmembers Lloyd Hilgart and Tracy Hinz Staff: Executive Director Jim Thares, Rachel Leonard, Angela Schumann, Hayden Stensgard 1. General Business A. Call to Order B. Roll Call 6:00 p.m. C. Consideration of Additional Agenda Items 2. Consent Agenda A. Consideration of Payment of Bills B. Consideration of Approving Regular Meeting Minutes— October 11, 2023 3. Public Hearing A. Consideration of adopting EDA Resolution No. 2023-11 the Monticello Business Subsidy Policy as amended, based on findings in Resolution No. 2023-11 4. Regular Agenda A. Consideration of adopting EDA Resolution No. 2023-12 Authorizing a Purchase Agreement with Riverwood Bank in the amount of $415,000 for 14.16 acres of vacant REO land, to be platted as Outlot A, Great River Second Addition, along 71h St. West (PID #155226000020 (partial) B. Consideration of Requesting the City Council to grant a deferral of Special Assessments payments for 14.16 -acre parcel soon to be platted as Outlot A, Great River Second Addition, along 71h St. West (PID #155226000020 (partial) C. Consideration of EDA Resolution No. 2023-13 authorizing an Interfund Loan for advance of certain costs in connection with a Tax Increment Financing (TIF) District related to acquisition of the vacant 14.16-acre Riverwood Bank parcel, soon to be platted as Outlot A, Great River Second Addition, along 7t" Street West 5. Other Business A. Consideration of Economic Development Manager's Report 6. Adjournment EDA Agenda: 11/8/23 2A. Consideration of Approving Payment of Bills Prepared by: Meeting Date: ® General Business Item Community & Economic Development 11/8/2023 ❑ Regular Agenda Item Coordinator ❑ Consent Agenda Item Reviewed by: Approved by: N/A Economic Development Manager REFERENCE AND BACKGROUND: Accounts Payable summary statements listing bills submitted during the previous month are included for review. ALTERNATIVE ACTIONS: 1. Motion to approve payment of bills through October 2023. 2. Motion to approve payment of bills through October 2023 with changes as directed by the EDA. STAFF RECOMMENDATION: Staff recommends approval of Alternative 1. SUPPORTING DATA: A. Accounts Payable Summary Statements for October. Accounts Payable Transactions by Account CITY F User: Julie.Cheney�� Printed: 10/10/2023 - 9:09AM onti ffo Batch: 00201.10.2023 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-431990 WSB & ASSOCIATES INC Downtown Redevelopment Project - J, 10/10/2023 0 167.25 Vendor Subtotal for Dept:46301 167.25 213-46301-431993 WSB & ASSOCIATES INC 2023 Economic Development Service: 10/10/2023 0 1,500.00 Vendor Subtotal for Dept:46301 1,500.00 Subtotal for Fund: 213 1,667.25 Report Total: 1,667.25 AP -Transactions by Account (10/10/2023 - 9:09 AM) Page 1 Accounts Payable Transactions by Account CITY F —d-1056User: Julie. onti effo Printed: 10/18/2023/2023 - 3:19PM Batch: 00203.10.2023 Account Number Vendor Description GL Date Check No Amount PO No 213-00000-157010 PREFERRED TITLE INC Purchase 216 Pine St - Closing on Pro: 10/24/2023 127696 465,464.88 Vendor Subtotal for Dept:00000 465,464.88 213-46301-430400 KENNEDY AND GRAVEN CHAR] Block 34 TIF -August 2023 10/24/2023 127679 205.00 213-46301-430400 KENNEDY AND GRAVEN CHAR] General EDA- August 2023 10/24/2023 127679 528.50 213-46301-430400 KENNEDY AND GRAVEN CHAR] 216 Pine St Acquisition -August 2023 10/24/2023 127679 630.00 Vendor Subtotal for Dept:46301 1,363.50 213-46301-431990 WSB & ASSOCIATES INC Downtown Redevelopment Project A 10/24/2023 0 55.75 Vendor Subtotal for Dept:46301 55.75 213-46301-431990 MSA PROFESSIONAL SERVICES MN Housing Study Update (9/10/23 - 10/24/2023 127690 2,640.00 Vendor Subtotal for Dept:46301 2,640.00 213-46301-431993 WSB & ASSOCIATES INC 2023 Economic Development Service: 10/24/2023 0 1,577.75 Vendor Subtotal for Dept:46301 1,577.75 213-46301-435100 ECM PUBLISHERS INC PH Amended Business Subsidies Adl 10/24/2023 0 111.00 AP-Transactions by Account (10/18/2023 - 3:19 PM) Page I Account Number Vendor Description GL Date Check No Amount PO No Vendor Subtotal for Dept:46301 213-46301-443990 QUEEN BEE'S GARDENS & FLOI Centerpieces for Manufacturers Break 10/24/2023 Vendor Subtotal for Dept:46301 213-46301-443990 STYLE CATERING Manufacturers Appreciation Breakfast 10/24/2023 Vendor Subtotal for Dept:46301 Subtotal for Fund: 213 Report Total: AP -Transactions by Account (10/18/2023 - 3:19 PM) 127698 127706 325.00 325.00 2,013.28 2,013.28 473,551.16 473,551.16 Page 2 Accounts Payable Transactions by Account User: julie.cheney Printed: 11/02/2023 - 10:02AM Batch: 00202.10.2023 Account Number Vendor Description Monticello GL Date Check No Amount PO No 213-46301-432200 US BANK CORPORATE PMT SYS USPS - Postage Mailing - Manufactur 10/15/2023 0 132.00 Vendor Subtotal: 132.00 213-46301-433100 US BANK CORPORATE PMT SYS MN DEED - 2023 Conference Registr 10/15/2023 0 204.30 213-46301-433100 US BANK CORPORATE PMT SYS MN DEED - 2023 Conference Registr 10/15/2023 0 204.30 Vendor Subtotal: 408.60 213-46301-438200 CITY OF MONTICELLO 7256-004 - 130 Brdwy- Stormwtr 10/15/2023 0 29.75 Vendor Subtotal: 29.75 213-46301-443990 US BANK CORPORATE PMT SYS Walmart - Candy for Chalkfest - EDA 10/15/2023 0 75.98 213-46301-443990 US BANK CORPORATE PMT SYS Nordic Brewing - IEDC Business Ron 10/15/2023 0 599.12 213-46301-443990 US BANK CORPORATE PMT SYS Domino's Pizza - Food for EDA Speci; 10/15/2023 0 75.27 Vendor Subtotal: 750.37 Subtotal for Fund: 213 1,320.72 Report Total: 1,320.72 AP -Transactions by Account (11/02/2023 - 10:02 AM) Page 1 Accounts Payable Transactions by Account User: julie.cheney Printed: 11/01/2023 - 3:18PM Batch: 00204.10.2023 Account Number Vendor Description Monticello GL Date Check No Amount PO No 213-46301-431991 DEMVI LLC Parking Lot Maintenance - Oct 2023 10/31/2023 0 213.86 Vendor Subtotal: 213.86 Subtotal for Fund: 213 213.86 Report Total: 213.86 The preceding list of bills payable totaling $476,752.99 was approved for payment. Date: 11/8/23 Approved by: Hali Sittig - Treasurer AP -Transactions by Account (11/01/2023 - 3:18 PM) Page 1 MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, October 11, 2023 — 6:00 p.m. Mississippi Room, Monticello Community Center Commissioners Present: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, 011ie Koropchak-White, Rick Barger, Councilmember Tracy Hinz, and Mayor Lloyd Hilgart Staff Present: Executive Director Jim Thares, Angela Schumann 1. General Business A. Call to Order President Steve Johnson called the regular meeting of the Monticello EDA to order at 6:00 p.m. B. Roll Call 6:00 a.m. Mr. Johnson called the roll. C. Consideration of Payment of Bills D. Consideration of Approving Regular Meeting Minutes — September 13, 2023 Items 1C. and 1D. were moved to the consent agenda prior to any action taken on them. E. Consideration of Additional Agenda Items None 2. Consent Agenda A. Consideration of adopting Revised Resolution 2023-09 Approving Purchase Aereement for 216 Pine Street. Monticello. MN (PID #155010034010) B. Consideration of Payment of Bills C. Consideration of Approving Regular Meeting Minutes — September 13, 2023 HALI SITTIG MOVED TO APPROVE THE OCTOBER 11, 2023, EDA REGULAR MEETING CONSENT AGENDA. RICK BARGER SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. 3. Public Hearin N/A 4. Regular Agenda A. Consideration of accepting 2023 Housing Study Update Community Development Director Angela Schumann provided an overview of the agenda item to the EDA and the public. The EDA authorized a contract with MSA Professional Services to update the 2020 housing study at its June 14, 2023, regular meeting. Since then, MSA -PS provided a draft housing study for staff and the EDA to review, allowing time for any questions, comments, or revisions to be addressed prior to final adoption. MSA -PS was prepared to provide a presentation overview of the housing study update to the EDA prior to their regular meeting, but staff requested the presentation occur at the regular meeting on October 25, to allow more time for questions and concerns to be addressed. In regard to this agenda item, staff requested the EDA table action on accepting the housing study update, to provide feedback on their initial thoughts and questions on the update. Those items to be further clarified by MSA -PS will be submitted to them following the meeting. Rick Barger said that he noticed a lot of the data remained the same from the original document from 2020, and asked if it was due to the updated data not being available. Ms. Schumann confirmed. Mr. Johnson noted that a concern among residents is the large number of multi- family buildings being constructed, and the original study and update clarify that there was a reason and a need for it. He said it is important for residents to understand where the data is coming from to justify these developments. 011ie Koropchak-White also noted that was a concern she hears among residents as well. Vice President Jon Morphew noted the difficulty the housing market is seeing due to interest rates rising. Rising interest rates and housing prices do not make for a good environment for willing people to sell their homes. Rather, it is having an adverse effect. Mayor Lloyd Hilgart added that he believed the increase in costs for financing a project will make it difficult for multi -family projects to continue developing at the pace Monticello has seen in recent years. Additionally, if the multi -family project development stalls with the lower -than -average vacancy rates, higher than average rental rates will continue. Councilmember Tracy Hinz noted that she would like to be able to utilize the information provided within the housing study update to better understand the EDA's role as the Housing & Redevelopment Authority as well. Mr. Johnson asked for clarification on when the consulting team will be presenting the full contents of the housing study update to the EDA. Ms. Schumann clarified that they will be available to meet and present at the EDA's October 25, 2023. LLOYD HILGART MOVED TO TABLE ACCEPTANCE OF THE 2023 HOUSING MARKET STUDY PREPARED BY MSA PROFESSIONAL SERVICES. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. LLOYD HILGRT MOVED TO AUTHORIZE A SERVICE FEE OF UP TO $625 PAYABLE TO MSA PROFESSIONAL SERVICES FOR THE FINAL PRESENTATION PREPARATION AND PREVIEW TO THE EDA. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. B. Consideration of Tax Abatement Policv Recommendation to the Citv Council Executive Director Jim Thares provided an overview of the agenda item to the EDA and the public. The EDA held a joint meeting with the City Council on June 14, 2023, and was provided a summary overview of the capabilities of use of a Tax Abatement. Since then, City staff have worked on developing policy language for the City Council to consider adopting. The EDA was asked to review the draft policy and provide a recommendation to the City Council for official action. Mr. Johnson noted that the draft policy allows the City Council to utilize tax abatement for a project on a case-by-case basis. Mr. Morphew asked how the policy was developed at the staff level. Mr. Thares explained that staff referenced a number of other community policies to develop and tailor a policy specific to Monticello. Mr. Johnson noted that at the workshop, one of the directions from the EDA was to make sure that Wright County's policy is in alignment with Monticello's. Ms. Schumann confirmed that Wright County was one of the policies referenced in developing the draft policy, and that the allowable uses in each policy are the same. Mr. Thares walked through the main differences between the proposed tax abatement policy and the existing Tax Increment Financing (TIF) policy the City has. TRACY HINZ MOVED TO RECOMMEND THE PROPOSED TAX ABATEMENT POLICY BE ADOPTED BY THE CITY COUNCIL. HALI SITTIG SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. 5. Other Business A. Consideration of Economic Development Manager's Report Mr. Thares provided an overview of the agenda item to the EDA and the public. No action was taken on the agenda item. 6. Adjournment TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO EDA. HALI SITTIG SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. MEETING ADJOURNED AT 7:08 P.M. EDA Agenda: 11/08/2023 3A. PUBLIC HEARING - Consideration to adopt the Monticello Business Subsidy Policy as amended, based on findings in Resolution No. 2023-11 Prepared by: Meeting Date: ❑ Consent Agenda Item Community Development Director, 11/08/2023 ® Public Hearing Item Economic Development Manager ❑ Regular Agenda Item Reviewed by: Approved by: Community & Economic Development City Administrator Coordinator, City Attorney, EDA Attorney ACTION REQUESTED Motion to adopt the Monticello Business Subsidy Policy as amended, based on findings in Resolution No. 2023-11. PREVIOUS EDA ACTION March 11, 2009: Public Hearing and Adoption of Monticello Business Subsidy Policy REFERENCE AND BACKGROUND The EDA previously adopted a Business Subsidy Policy, which provides overall guidance for the EDA's and City's business subsidy programs. The Business Subsidy Policy supports achievement of the Monticello 2040 Vision and Value Statements by providing a framework for use and application of the EDA's and City's economic development tools. Due to the City's consideration of instituting the use of Tax Abatement, an amendment to the Business Subsidy policy is recommended to incorporate Tax Abatement within the listing of subsidy programs offered by the City as a whole. Per State Statute, Tax Abatement is a City administered economic development tool. EDAs have no authority to utilize Tax Abatement. The proposed Business Subsidy amendment identifies that the City administers the Tax Abatement program, while the EDA administers the existing Tax Increment Financing, Greater Monticello Enterprise Fund, Fagade Loan, and Small Cities Economic Development Loan fund programs. The public purpose of the City's business subsidy programs remains unchanged and consistent with the goals of the Monticello 2040 Vision + Plan. Business subsidy programs are considered when a project furthers the City's goals for tax base, job retention and creation, housing, redevelopment, and downtown vitality. EDA Agenda: 11/08/2023 The proposed amendments also bring the policy's language into alignment with more recent statutory requirements. Consistent with statutory provisions, the amended policy requires that the City establish a minimum wage floor when job creation is a factor for granting a subsidy. Staff have proposed an average of twice the state minimum wage for the total jobs created as the minimum standard. For reference, the 2024 minimum wage rate is set at $10.85 for large employers and $8.85 for small employers. Staff's recommendation for this rate is based on the most current income information provided in the 2023 Housing Study. The study provides data on area median income and income range comparisons that support the proposed minimum. Staff also reviewed recent quarterly wage data from the Bureau of Labor Statistics. The proposed wage level allows Monticello to continue to encourage jobs at livable wages per the goals of the Monticello 2040 Plan. Living wage jobs are those that allow workers to affordably manage housing, transportation, food, and other costs. Additional minor language changes throughout the document were recommended by the EDA's attorney in an effort to further clarify the proposed Policy in conformity with the statutory language. A public hearing was also held at the October 23, 2023, regular City Council meeting in which the proposed amended Business Subsidy Policy was reviewed and unanimously adopted. If the EDA adopts the amended Business Subsidy Policy, staff will provide both the City and EDA Resolutions and the document to MN -DEED as required by State Statute. I. Budget Impact: Both the City and EDA legal budget line items will absorb the cost of the City Attorney and EDA Attorney's review of the amended Business Subsidy Policy. II. Staff Workload Impact: Community and Economic Development staff have reviewed and researched information related to the proposed amendments, estimated at 4 hours each. III. Comprehensive Plan Impact: The Monticello 2040 Vision + Plan's Vision and Values Statements provide guidance for community growth and development, with Chapter 9 of the Plan providing specific Goals, Policies and Strategies in support of the Vision and Values. The Implementation chapter includes strategies supporting the use of economic development incentive programs, including specific statements regarding increase and diversification of tax base and support for living wages. STAFF RECOMMENDED ACTION Staff recommend adoption of the amended Business Subsidy policy. The policy is the foundation for the City and EDA's existing and proposed economic development tools and is in direct support of the City's 2040 Comprehensive Plan goals. The document provides structure EDA Agenda: 11/08/2023 for the City's consideration of subsidy requests and also adds the recently approved (Item 4A., regular October 23, 2023, City Council meeting) Tax Abatement as a business assistance tool. SUPPORTING DATA A. Resolution No. 2023-11 B. Amended Business Subsidy Policy C. Current Business Subsidy Policy D. Excerpts, Monticello 2040 Vision + Plan E. Minnesota Statutes 116J.933 and 116J.994 F. Public Hearing Notice CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY CITY OF MONTICELLO WRIGHT COUNTY STATE OF MINNESOTA RESOLUTION NO. 2023-11 RESOLUTION APPROVING AMENDED BUSINESS SUBSIDY POLICY BE IT RESOLVED By the Board of Commissioners (the "Board") of the City of Monticello Economic Development Authority (the "Authority") as follows: Section 1. Recitals. 1.01. The Authority acknowledges the need at times to provide financial assistance to businesses to further the economic development and redevelopment objectives of the Authority and to that end, the Authority has previously adopted criteria (the "Business Subsidy Policy") for the Authority and the City of Monticello, Minnesota (the "City") to follow when awarding any "business subsidy" as defined in Minnesota Statutes, Section 116J.993 through 116J.995, as amended (the "Business Subsidy Act"), as required by the Business Subsidy Act. 1.02. The Authority and the City now desire to amend the Business Subsidy Policy (the "Amended Business Subsidy Policy") and, on this date hereof, the Board has held a duly noticed public hearing on the Amended Business Subsidy Policy as required by the Business Subsidy Act, at which all interested persons were given an opportunity to be heard. Section 2. Amended Business Subsidy PolicyAPproved. 2.01. The Board hereby approves the Amended Business Subsidy Policy on file with the Executive Director of the Authority, which criteria supersedes the Business Subsidy Policy and any other prior business subsidy policy or criteria adopted by the Authority. 2.02. Authority staff is authorized to transmit a copy of the Amended Business Subsidy Policy to the Minnesota Department of Employment and Economic Development in accordance with the Business Subsidy Act. Approved by the Board of Commissioners of the City of Monticello Economic Development Authority this 8th day of November, 2023. President ATTEST: Executive Director MN190\101\906673.v1 CITY OF City Policy and "1 1 eRo Procedure SECTION: FINANCE NO: FIN - REFERENCE: Date: Next Review Date: TITLE: BUSINESS SUBSIDY POLICY 1.0 Purpose This policy includes the criteria to be considered by the City of Monticello (the "City") and the City of Monticello Economic Development Authority (the "EDA") to evaluate the granting of business subsidies (this "Policy"). It is the City and the EDA's intent in adopting this Policy is to comply with Minnesota Statutes, Sections 116J.993-1161.995, as amended (the "Act"). The term "business subsidy' or "business subsidies" shall be as defined in the Act. 2.0 Policy Goals and Objectives/Public Purpose It is the City's and EDA's intent to support and comply with the goals and objectives stated in the City of Monticello's Comprehensive Plan and with the public purpose requirements of the Act when granting business subsidies. At a minimum, to be granted a business subsidy by the City or the EDA, a project must meet one (or two, depending) of the following goals and objectives. The City or the EDA may grant a business subsidy for the purpose of: 1. Attracting New Businesses & Expanding the Tax Base a. Project increases the tax base (Cannot be the only goal). b. Project promotes and enhances industrial and commercial diversity in the City. 2. Attracting and Retaining Jobs a. Project creates the maximum number of livable wage jobs possible. To meet this goal, on average, the jobs created by the Project (both part-time and full-time) shall have a minimum hourly wage equal to twice the current State of Minnesota minimum wage.- b. Job retention may be an allowable goal for the Project if job loss is imminent and demonstrable. 3. Enhancing Downtown: Project promotes revitalization and redevelopment in the City's downtown. 4. Facilitating Redevelopment: Project promotes redevelopment objectives and removal of blight, including pollution cleanup. 5. Housing: Project diversifies the housing stock available within the City. Subsidy Agreement, Compliance and Reporting Requirements Prior to granting a business subsidy, the City or the EDA and the grantee (the "Grantee") will be required to enter into a formal agreement (the "Agreement") which shall, among other things: • Identify the amount and nature of the business subsidy and articulate the goals and objectives thereof. • Identify the number of full-time or part-time jobs and the wages for those jobs which are to be established (or retained) within two years of the Benefit Date (as defined in the Act). • Require that the Grantee continue project operations at the site for at least five years. The Grantee shall file a report annually for two years after the Benefit Date or until all goals as set forth in the Agreement have been met, whichever is later. Reports shall be completed using the format drafted by the State of Minnesota and shall be filed with the City or the EDA no later than March 1 of each year for the previous calendar year. Grantees failing to comply with the above provisions will be subject to fines, repayment requirements, and be deemed ineligible by the State of Minnesota to receive any loans or grants from public entities for a period of five years. 3.0 Scope The City has the authority to administer the City's Tax Abatement Program and grant business subsidies thereunder. The EDA has the authority to administer the following programs and grant business subsidies thereunder: 1. Tax Increment Financing (TIF) 2. Greater Monticello Enterprise Fund (GMEF) 3. Small Cities Economic Development Set Aside Fund (ED) 4. Fagade Improvement Forgivable Loan Program The City and the EDA have adopted separate policies for each of these programs (the "Policies"). To the extent that the Policies contain more specific guidelines for each type of business subsidy, those Policies control. Notwithstanding anything to the contrary herein, the City (and EDA, subject to City approval) reserve the right to create and administer additional programs and grant any type of business subsidy authorized by law, without limitation. 4.0 HISTORY Public Hearing and Approval Date: 03/11/2009 03/23/2009 Approved by: EDA City Council Public Hearing and Amendment Date: 11/09/2023 10/23/2023 Approved by: EDA Council Amendment Date: Approved by: MN 190\101 \906665.v3 CITY OF MONTICELLO CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY BUSINESS SUBSIDY CRITERIA I. Purpose This document includes the criteria to be considered by the City of Monticello ("City") and the City of Monticello Economic Development Authority ("EDA") to evaluate the granting of business subsidies. The intent of the City and EDA in adopting these criteria is to comply with Minnesota Statutes, Sec. I I6J.993-116J.994 (the "Act"). The City and EDA hereby adopt the definitions contained in the Act for application in the criteria. II. Types of Business Subsidies The EDA shall have the authority to administer the following programs for the granting of business subsidies: 1. Tax Increment Financing (TIF) 2. Greater Monticello Enterprise Fund (GMEF) 3. Small Cities Economic Development Set Aside Fund (ED) The EDA has separately developed guidelines for each of these types of subsidies (the "Guidelines"). To the extent that the Guidelines contain more specific policies for each type of subsidy, those Guidelines control. Notwithstanding anything to the contrary herein, the City (and EDA, subject to City approval) reserve the right to grant any type of business subsidy authorized by law, without limitation. III. Goals and Obiectives/Public Purpose It is the City's and EDA's intent to support and comply with the goals and objectives stated in the City of Monticello's Comprehensive Plan in granting business subsidies, and with the public purpose requirements of the Act. The following goals and objectives are general guidelines to assist in determining the granting of a Business Subsidy. The City and EDA recognize that every proposal is unique and nothing in these criteria or in the Business Subsidy policy shall be deemed to be an entitlement. a. Attracting New Businesses & Expanding Tax Base 1. Increase in tax base. (Cannot be the only criteria.) 2. Promote and enhance industrial and commercial diversity b. Attracting New Jobs & Job Retention 1. Jobs and Wages. It is the City's and EDA's goal that the subsidy recipient will create the maximum number of livable wage jobs possible. (The business subsidy agreement must include numbers and wages to be achieved within two years of the benefit date.) 2. Jobs and wages in this context may include jobs to be retained but only if job loss is "imminent and demonstrable". C. Business Retention: Promote and maintain industrial and commercial diversity. d. Enhancing Downtown: Promote revitalization and redevelopment e. Facilitating Redevelopment: Promote redevelopment objectives and removal of blight, including pollution cleanup. L Housing: Diversify the housing stock available within the community. IV. Subsidy Agreement. In the implementation of any subsidy granted by City or EDA, the parties will be required to enter into a formal agreement which identifies the amount and nature of the subsidy and articulates the goals and objectives which are intended to be implemented. In addition, the agreement must establish the number of full-time or part-time jobs and the wages for those jobs which are to be established (or retained) within two years of the benefit date. The agreement must also contain a penalty for failure to meet those goals. Finally, the agreement will require that the recipient continue operations at the site for at least five years. V. Compliance and Reporting Requirements. It will be necessary for both the recipient and the City or EDA to comply with the reporting and monitoring requirements of the statute. VL History, Public Hearing held by the EDA on March 11, 2009 approved on March 11, 2009. Public Hearing held by the City Council on March 23, 2009, approved on March 23, 2009. 3 Monticello 1)) 2040 — VISION + PLAN — PHASE ONE I JANUARY 2020 This first phase of the Comprehensive Plan process, the Visioning phase, included a community engagement process to identify common values, growth aspirations and a vision to inform the planning direction for the next 20 years. The vision, value statements and preferred development scenario will serve as the foundation for creating the new Comprehensive Plan during the second phase of the planning process. The Comprehensive Plan provides a set of goals, policies and strategies for achieving Monticello's vision for the future. 0 In 2040 the City of Monticello is an inclusi growth while maintaining its small -down town known for its schools, parks, bikini Monticello is an evolving, friendly ands. environment, fosters a sense of belongin active lifestyle and supports innovatic A safe, clean, and beautiful community supported by caring and helpful residents. A network of parks, open space and trail connections that provide recreation opportunities. An inclusive community welcoming people of all ages, races, religions and ethnic backgrounds. Monticello))) 2040 - VISION r PLAN PHASE ONE I JANUARY 2020 Development Assumptions 0 Sustainability - Focus on sustainability, open space and wetland preservation throughout City. 0 Infill Development - New service commercial and light industrial infill. 0 Conservation Neighborhoods - Single-family housing developed as conservation subdivisions in a clustered fashion mitigating impacts to sensitive areas. '. Industrial Expansion - Full build out and expansion of Otter Creek Industrial Park and growth around future Interchange. Q Multi -Family Housing - New multi -family infill development near core of downtown and other focus areas. 0 New School - New elementary and middle school campus with environmental focus. 0 Downtown - Downtown plan implementation thriving with new commercial, mixed-use and public realm improvements. Q Mississippi River - Focus on River with new access, connections and riverfront trail. 0 New Employment Center - New industrial business park developed around new interchange with green technology, renewable energy, manufacturing and other uses. 0 Xcel Facility - The Xcel Monticello Nuclear Generating Plant is licensed through 2030 and will seek relicensing to 2040. Q Annexation Area - Portions of the Orderly Annexation Area are designated as an Urban Reserve for future development. Development would likely include conservation single-family cluster subdivisions. D 0 INCREMENTAL, SUSTAINABLE Growth Scenario The preferred development scenario is the result of community feedback on the four The community envisions Monticello in 2040 as an environmentally and economical strong, balanced growth. Key Preferred Scenario Aspects Downtown Focus 6 Industrial and Employment Q New School Q Conservation Neighborhoods Technology, Renewable Energy, OManufacturing & r Distribution Warehousing ©. Otter Creek Industrial Park K CHAPTER 9: IMPLEMENTATION 0 185 IMPLEMENTATION CHART: LAND USE, GROWTH AND ORDERLY ANNEXATION Policy 4.3: Downtown Mixed -Use Policy 51: Land Supply and Employment Growth Maintain an industrial land supply that is adequate and suitable for the continued growth of the City's core industries, including manufacturing, logistics/distribution, and emerging technologies. The City should capitalize on its proximity to Interstate 94, regional transportation facilities, and educated and skilled work force to create opportunities for job growth. Strategy4.3.2- Focus investment and redevelopment efforts on Block 52 and surrounding parcels. Recruit a high-profile tenant or other large activity generator in a premier building space overlooking the River and anchoring the Downtown. Strategy4.3.3- Implement improvements to the downtown streetscape, including the Walnut Corridor Streetscape Plans, to complement the goal for a new and revitalized downtown. All downtown branding and signage should be consistent. Strategy4.3.4 - Coordinate with MnDOT as necessary to implement traffic management measures and streetscape design techniques to reduce truck speeds through Downtown, improve the pedestrian experience and incorporate design techniques that emphasize safety, access and mobility throughout the Downtown. Strategy 5.1.1- Retain and plan for development of land zoned for Employment Campus and Light Industrial Park that is sufficient to meet long-term needs for light industrial uses, manufacturing, production and assembly, and other uses which support continued diversity in tax base and create living -wage employment. Strategy5.1.2 - Evaluate industrial land use opportunity for warehousing/distribution as a growing industrial sector, balancing impacts on transportation corridors and land -to - employment ratios. SHORT- LONG- ONGOING THEME TERM TERM 208 IMPLEMENTATION IMPLEMENTATION CHART: ECONOMIC DEVELOPMENT SHORT- LONG- ONGOING THEME TERM TERM ' Policy 1.1: Business and Strategy 1.1.1- Maintain a strong Business • • ' • Employment Retention Retain existing businesses and Retention and Expansion (BR&E) program to monitor opportunities for continued growth and expansion of businesses as well as the • • • • • • • employers to ensure existing continued relationship development between • • • and future residents have access to the City and existing businesses. • • • livable wage jobs in a diverse range Strategy 1.1.2 - Identify and support companies of economic sectors. that are expanding and adding employees. )) Strategy 1.1.3 - Identify and promote programs that assist existing companies in expansion and creation of new positions. Strategy 1.1.4 -Assist and support companies in accessing business assistance programs )) including financial and educational programs. Strategy 1.1.5 - Bring Businesses and Educational Organizations together to ) create training programs to foster new living wage opportunities. Policy 1.2: Local Business Support Support existing businesses in their Strategy 1.2.1— Facilitate relationships with existing businesses on the expansion, redevelopment and improvement of their • • a efforts to expand and do business buildings and facilities. in the community. Strategy 1.2.2 - Consider facade rehabilitation programs, small business loans, grants and other tools to encourage property reinvestment and support local businesses. Strategy 1.2.3- Foster partnerships and maintain networking relationships with the goal of maintaining communication in support of )<<' existing businesses. MONTICELLO 2040 VISION + PLAN 223 IMPLEMENTATION CHART: ECONOMIC DEVELOPMENT SHORT- LONG- ONGOING THEME TERM TERM • • • Policy 2.1: Diverse Economic Sectors Strategy2.11- Capitalize on the proximity to 1-94 regional transportation facilities, available is ' ' • • - • - • • • • land and educated and skilled work force to • . • Diversify economic sectors to create opportunities for job growth. - • • • • . broaden the base of available Strategy2.1.2- Inventory existing industry . • • • • living wage employment in • - • - • the Community. clusters and strengthen those clusters by attracting similar and complementary businesses. Strategy 2.1.3 -Work with existing business clusters to expand the attraction of supply )�) chain companies. Strategy2.1.4 - Recognize changing land use patterns for industrial parks, and other or alternative uses such as co -working spaces. • • • • Policy 2.2.- Business Toolbox Strategy2.2.1- Promote economic development tools to the business community. w.. Maintain a business development Strategy2.2.2- Develop criteria for a City tax and job creation toolbox to assist existing and future businesses. reimbursement and abatement program. Strategy2.2.3- Identify and promote new and _ existing state and federal programs to support business development and attraction. Strategy 2.2.4- Prepare a complete . - development site package for high-priority areas including a map of available parcels. Strategy 2.2.5- Certify available industrial sites as "shovel ready" to allow for faster turnaround` of development projects. Strategy 2.2.6- Maintain and update annually property availability maps for commercial and industrial parcels. / 224 IMPLEMENTATION MINNESOTA STATUTES 2022 1161.993 116J.993 DEFINITIONS. Subdivision 1. Scope. For the purposes of sections 116J.993 to 116J.995, the terms defined in this section have the meanings given them. Subd. 2. Benefit date. "Benefit date" means the date that the recipient receives the business subsidy. If the business subsidy involves the purchase, lease, or donation of physical equipment, then the benefit date begins when the recipient puts the equipment into service. If the business subsidy is for improvements to property, then the benefit date refers to the earliest date of either: (1) when the improvements are finished for the entire project; or (2) when a business occupies the property. If a business occupies the property and the subsidy grantor expects that other businesses will also occupy the same property, the grantor may assign a separate benefit date for each business when it first occupies the property. Subd. 3. Business subsidy. "Business subsidy" or "subsidy" means a state or local government agency grant, contribution of personal property, real property, infrastructure, the principal amount of a loan at rates below those commercially available to the recipient, any reduction or deferral of any tax or any fee, any guarantee of any payment under any loan, lease, or other obligation, or any preferential use of government facilities given to a business. The following forms of financial assistance are not a business subsidy: (1) a business subsidy of less than $150,000; (2) assistance that is generally available to all businesses or to a general class of similar businesses, such as a line of business, size, location, or similar general criteria; (3) public improvements to buildings or lands owned by the state or local government that serve a public purpose and do not principally benefit a single business or defined group of businesses at the time the improvements are made; (4) redevelopment property polluted by contaminants as defined in section 116J.552, subdivision 3; (5) assistance provided for the sole purpose of renovating old or decaying building stock or bringing it up to code and assistance provided for designated historic preservation districts, provided that the assistance is equal to or less than 50 percent of the total cost; (6) assistance to provide job readiness and training services if the sole purpose of the assistance is to provide those services; (7) assistance for housing; (8) assistance for pollution control or abatement, including assistance for a tax increment financing hazardous substance subdistrict as defined under section 469.174, subdivision 23; (9) assistance for energy conservation; (10) tax reductions resulting from conformity with federal tax law; (11) workers' compensation and unemployment insurance; (12) benefits derived from regulation; Official Publication of the State of Minnesota Revisor of Statutes I 161.993 MINNESOTA STATUTES 2022 2 (13) indirect benefits derived from assistance to educational institutions; (14) funds from bonds allocated under chapter 474A, bonds issued to refund outstanding bonds, and bonds issued for the benefit of an organization described in section 501(c)(3) of the Internal Revenue Code of 1986, as amended through December 31, 1999; (15) assistance for a collaboration between a Minnesota higher education institution and a business; (16) assistance for a tax increment financing soils condition district as defined under section 469.174, subdivision 19; (17) redevelopment when the recipient's investment in the purchase of the site and in site preparation is 70 percent or more of the assessor's current year's estimated market value; (l 8) general changes in tax increment financing law and other general tax law changes of a principally technical nature; (19) federal assistance until the assistance has been repaid to, and reinvested by, the state or local government agency; (20) funds from dock and wharf bonds issued by a seaway port authority; (21) business loans and loan guarantees of $150,000 or less; (22) federal loan funds provided through the United States Department of Commerce, Economic Development Administration; and (23) property tax abatements granted under section 469.1813 to property that is subject to valuation under Minnesota Rules, chapter 8100. Subd. 4. Grantor. "Grantor" means any state or local government agency with the authority to grant a business subsidy. Subd. 5. Local government agency. "Local government agency" includes a statutory or home rule charter city, housing and redevelopment authority, town, county, port authority, economic development authority, community development agency, nonprofit entity created by a local government agency, or any other entity created by or authorized by a local government with authority to provide business subsidies. Subd. 6. Recipient. "Recipient" means any for-profit or nonprofit business entity that receives a business subsidy. Only nonprofit entities with at least 100 full-time equivalent positions and with a ratio of highest to lowest paid employee, that exceeds ten to one, determined on the basis of full-time equivalent positions, are included in this definition. Subd. 6a. Residence. "Residence" means the place where an individual has established a permanent home from which the individual has no present intention of moving. Subd. 7. State government agency. "State government agency" means any state agency that has the authority to award business subsidies. History: 1999 c 243 art 12 s 1; 2000 c 482 s 1; 2004 c 206 s 52; 1 Sp2005 c 3 art 7 s 1; 2006 c 259 art 4s 1; 2008 c 366 art 5 s 2 Official Publication of the State of Minnesota Revisor of Statutes MINNESOTA STATUTES 2022 116J.994 1161994 REGULATING LOCAL AND STATE BUSINESS SUBSIDIES. Subdivision 1. Public purpose. A business subsidy must meet a public purpose which may include, but may not be limited to, increasing the tax base. Job retention may only be used as a public purpose in cases where job loss is specific and demonstrable. Subd. 2. Developing a set of criteria. A business subsidy may not be granted until the grantor has adopted criteria after a public hearing for awarding business subsidies that comply with this section. The criteria may not be adopted on a case-by-case basis. The criteria must set specific minimum requirements that recipients must meet in order to be eligible to receive business subsidies. The criteria must include a specific wage floor for the wages to be paid for the jobs created. The wage floor may be stated as a specific dollar amount or may be stated as a formula that will generate a specific dollar amount. A grantor may deviate from its criteria by documenting in writing the reason for the deviation and attaching a copy of the document to its next annual report to the department. The commissioner of employment and economic development may assist local government agencies in developing criteria. A copy of the criteria must be submitted to the Department of Employment and Economic Development along with the first annual report following May 15, 2000, or with the first annual report after it has adopted criteria, whichever is earlier. Notwithstanding section 116J.993, subdivision 3, clauses (1) and (21), for the purpose of this subdivision, "business subsidies" as defined under section 116J.993 includes the following forms of financial assistance: (1) a business subsidy of $25,000 or more; and (2) business loans and guarantees of $75,000 or more. Subd. 3. Subsidy agreement. (a) A recipient must enter into a subsidy agreement with the grantor of the subsidy that includes: (1) a description of the subsidy, including the amount and type of subsidy, and type of district if the subsidy is tax increment financing; (2) a statement of the public purposes for the subsidy; (3) measurable, specific, and tangible goals for the subsidy; (4) a description of the financial obligation of the recipient if the goals are not met; (5) a statement of why the subsidy is needed; (6) a commitment to continue operations in the jurisdiction where the subsidy is used for at least five years after the benefit date; (7) the name and address of the parent corporation of the recipient, if any; and (8) a list of all financial assistance by all grantors for the project. (b) Business subsidies in the form of grants must be structured as forgivable loans. For other types of business subsidies, the agreement must state the fair market value of the subsidy to the recipient, including the value of conveying property at less than a fair market price, or other in-kind benefits to the recipient. (c) If a business subsidy benefits more than one recipient, the grantor must assign a proportion of the business subsidy to each recipient that signs a subsidy agreement. The proportion assessed to each recipient must reflect a reasonable estimate of the recipient's share of the total benefits of the project. Oficial Publication of the State of Minnesota Revisor of Statutes I I6J.994 MINNESOTA STATUTES 2022 2 (d) The state or local government agency and the recipient must both sign the subsidy agreement and, if the grantor is a local government agency, the agreement must be approved by the local elected governing body, except for the St. Paul Port Authority and a seaway port authority. (e) Notwithstanding the provision in paragraph (a), clause (6), a recipient may be authorized to move from the jurisdiction where the subsidy is used within the five-year period after the benefit date if, after a public hearing, the grantor approves the recipient's request to move. For the purpose of this paragraph, if the grantor is a state government agency other than the Department of Iron Range Resources and Rehabilitation, "jurisdiction" means a city or township. Subd. 4. Wage and job goals. The subsidy agreement, in addition to any other goals, must include: (1) goals for the number of jobs created, which may include separate goals for the number of part-time or full-time jobs, or, in cases where job loss is specific and demonstrable, goals for the number of jobs retained; (2) wage goals for any jobs created or retained; and (3) wage goals for any jobs to be enhanced through increased wages. After a public hearing, if the creation or retention of jobs is determined not to be a goal, the wage and job goals may be set at zero. The goals for the number of jobs to be created or retained must result in job creation or retention by the recipient within the granting jurisdiction overall. In addition to other specific goal time frames, the wage and job goals must contain specific goals to be attained within two years of the benefit date. Subd. 5. Public notice and hearing. (a) Before granting a business subsidy that exceeds $500,000 for a state government grantor and $150,000 for a local government grantor, the grantor must provide public notice and a hearing on the subsidy. A public hearing and notice under this subdivision is not required if a hearing and notice on the subsidy is otherwise required by law. (b) Public notice of a proposed business subsidy under this subdivision by a state government grantor, other than the commissioner of Iron Range resources and rehabilitation, must be published in the State Register. Public notice of a proposed business subsidy under this subdivision by a local government grantor or the commissioner of Iron Range resources and rehabilitation must be published in a local newspaper of general circulation. The public notice must identify the location at which information about the business subsidy, including a summary of the terms of the subsidy, is available. Published notice should be sufficiently conspicuous in size and placement to distinguish the notice from the surrounding text. The grantor must make the information available in printed paper copies and, if possible, on the Internet. The government agency must provide at least a ten-day notice for the public hearing. (c) The public notice must include the date, time, and place of the hearing. (d) The public hearing by a state government grantor other than the commissioner of Iron Range resources and rehabilitation must be held in St. Paul. (e) If more than one nonstate grantor provides a business subsidy to the same recipient, the nonstate grantors may designate one nonstate grantor to hold a single public hearing regarding the business subsidies provided by all nonstate grantors. For the purposes of this paragraph, "nonstate grantor" includes the commissioner of Iron Range resources and rehabilitation. (f) The public notice of any public meeting about a business subsidy agreement, including those required by this subdivision and by subdivision 4, must include notice that a person with residence in or the owner of taxable property in the granting jurisdiction may file a written complaint with the grantor if the grantor fails to comply with sections I I6J.993 to I I6J.995, and that no action may be filed against the grantor for the failure to comply unless a written complaint is filed. Official Publication of the State of Minnesota Revisor of Statutes MINNESOTA STATUTES 2022 116J.994 Subd. 6. Failure to meet goals. (a) The subsidy agreement must specify the recipient's obligation if the recipient does not fulfill the agreement. At a minimum, the agreement must require a recipient failing to meet subsidy agreement goals to pay back the assistance plus interest to the grantor or, at the grantor's option, to the account created under section 116J.551 provided that repayment may be prorated to reflect partial fulfillment of goals. The interest rate must be set at no less than the implicit price deflator for government consumption expenditures and gross investment for state and local governments prepared by the Bureau of Economic Analysis of the United States Department of Commerce for the 12 -month period ending March 31 of the previous year. The grantor, after a public hearing, may extend for up to one year the period for meeting the wage and job goals under subdivision 4 provided in a subsidy agreement. A grantor may extend the period for meeting other goals under subdivision 3, paragraph (a), clause (3), by documenting in writing the reason for the extension and attaching a copy of the document to its next annual report to the department. (b) A recipient that fails to meet the terms of a subsidy agreement may not receive a business subsidy from any grantor for a period of five years from the date of failure or until a recipient satisfies its repayment obligation under this subdivision, whichever occurs first. (c) Before a grantor signs a business subsidy agreement, the grantor must check with the compilation and summary report required by this section to determine if the recipient is eligible to receive a business subsidy. Subd. 7. Reports by recipients to grantors. (a) A business subsidy grantor must monitor the progress by the recipient in achieving agreement goals. (b) A recipient must provide information regarding goals and results for two years after the benefit date or until the goals are met, whichever is later. If the goals are not met, the recipient must continue to provide information on the subsidy until the subsidy is repaid. The information must be filed on forms developed by the commissioner in cooperation with representatives of local government. Copies of the completed forms must be sent to the local government agency that provided the subsidy or to the commissioner if the grantor is a state agency. If the commissioner of Iron Range resources and rehabilitation is the grantor, the copies must be sent to the commissioner of Iron Range resources and rehabilitation. The report must include: (1) the type, public purpose, and amount of subsidies and type of district, if the subsidy is tax increment financing; (2) the hourly wage of each job created with separate bands of wages; (3) the sum of the hourly wages and cost of health insurance provided by the employer with separate bands of wages; (4) the date the job and wage goals will be reached; (5) a statement of goals identified in the subsidy agreement and an update on achievement of those goals; (6) the location of the recipient prior to receiving the business subsidy; (7) the number of employees who ceased to be employed by the recipient when the recipient relocated to become eligible for the business subsidy; (8) why the recipient did not complete the project outlined in the subsidy agreement at their previous location, if the recipient was previously located at another site in Minnesota; (9) the name and address of the parent corporation of the recipient, if any; Official Publication of the State of Minnesota Revisor of Statutes 116J.994 MINNESOTA STATUTES 2022 4 (10) a list of all financial assistance by all grantors for the project; and (11) other information the commissioner may request. A report must be filed no later than March 1 of each year for the previous year. The local agency and the commissioner of Iron Range resources and rehabilitation must forward copies of the reports received by recipients to the commissioner by April 1. (c) Financial assistance that is excluded from the definition of "business subsidy" by section I I6J.993, subdivision 3, clauses (4), (5), (8), and (16), is subject to the reporting requirements of this subdivision, except that the report of the recipient must include instead: (1) the type, public purpose, and amount of the financial assistance, and type of district if the assistance is tax increment financing; (2) progress towards meeting goals stated in the assistance agreement and the public purpose of the assistance; (3) if the agreement includes job creation, the hourly wage of each job created with separate bands of wages; (4) if the agreement includes job creation, the sum of the hourly wages and cost of health insurance provided by the employer with separate bands of wages; (5) the location of the recipient prior to receiving the assistance; and (6) other information the grantor requests. (d) If the recipient does not submit its report, the local government agency must mail the recipient a warning within one week of the required filing date. If, after 14 days of the postmarked date of the warning, the recipient fails to provide a report, the recipient must pay to the grantor a penalty of $100 for each subsequent day until the report is filed. The maximum penalty shall not exceed $1,000. Subd. 8. Reports by grantors. (a) Local government agencies of a local government with a population of more than 2,500 and state government agencies, regardless of whether or not they have awarded any business subsidies, must file a report by April 1 of each year with the commissioner. Local government agencies of a local government with a population of 2,500 or less are exempt from filing this report if they have not awarded a business subsidy in the past five years. The report must include a list of recipients that did not complete the recipient report required under subdivision 7 and a list of recipients that have not met their job and wage goals within two years and the steps being taken to bring them into compliance or to recoup the subsidy. If the commissioner has not received the report by April 1 from an entity required to report, the commissioner shall issue a warning to the government agency. If the commissioner has still not received the report by June l of that same year from an entity required to report, then that government agency may not award any business subsidies until the report has been filed. (b) The report required under paragraph (a) is also required for financial assistance of $25,000 and greater that is excluded from the definition of "business subsidy" by section 116J.993, subdivision 3, clause (1), and of $75,000 and greater that is excluded from the definition of "business subsidy" by section 116J.993, subdivision 3, clause (21). The report for the financial assistance under this paragraph must be completed within one year of the granting of the financial assistance. The report required for financial assistance under this paragraph must include: Official Publication of the State of Minnesota Revisor of Statutes MINNESOTA STATUTES 2022 116J.994 (1) the name of the recipient, its organizational structure, its address and contact information, and its industry sector; (2) a description of the amount and use of the financial assistance and the total project budget, including a list of all financial assistance by all grantors for the project and the private sources of financial assistance; (3) the public purpose of the financial assistance, the job goals associated with both the financial assistance and the total project in which the financial assistance is included, the hourly wage of each job created, and the cost of health insurance provided by the employer; (4) the date the project will be completed; (5) the name and address of the parent corporation of the recipient, if any; and (6) any other information the commissioner may request. (c) Within one year of completing a report under paragraph (b), the local government agency must report to the commissioner on progress in achieving the purposes and goals under paragraph (b), clause (3). (d) The commissioner of employment and economic development must provide information on reporting requirements to state and local government agencies. Subd. 9. Compilation and summary report. The Department of Employment and Economic Development must publish a compilation and summary of the results of the reports for the previous two calendar years by December I of 2004 and every other year thereafter. The reports of the government agencies to the department and the compilation and summary report of the department must be made available to the public. The commissioner must make copies of all business subsidy reports submitted by local and state granting agencies available on the department's website by October I of the year in which they were submitted. The commissioner must coordinate the production of reports so that useful comparisons across time periods and across grantors can be made. The commissioner may add other information to the report as the commissioner deems necessary to evaluate business subsidies. Among the information in the summary and compilation report, the commissioner must include: (1) total amount of subsidies awarded in each development region of the state; (2) distribution of business subsidy amounts by size of the business subsidy; (3) distribution of business subsidy amounts by time category; (4) distribution of subsidies by type and by public purpose; (5) percent of all business subsidies that reached their goals; (6) percent of business subsidies that did not reach their goals by two years from the benefit date; (7) total dollar amount of business subsidies that did not meet their goals after two years from the benefit date; (8) percent of subsidies that did not meet their goals and that did not receive repayment; (9) list of recipients that have failed to meet the terms of a subsidy agreement in the past five years and have not satisfied their repayment obligations; Official Publication of the State of Minnesota Revisor of Statutes 116J.994 MINNESOTA STATUTES 2022 (10) number of part-time and full-time jobs within separate bands of wages for the entire state and for each development region of the state; (11) benefits paid within separate bands of wages for the entire state and for each development region of the state; and (12) number of employees in the entire state and in each development region of the state who ceased to be employed because their employers relocated to become eligible for a business subsidy. Subd. 10. Compilation. The Department of Employment and Economic Development must publish a compilation of granting agencies' criteria policies adopted in the previous two calendar years by December 1 of 2004 and every other year thereafter. Subd. 11. Enforcement. (a) A person with residence in or an owner of taxable property located in the jurisdiction of the grantor may bring an action for equitable relief arising out of the failure of the grantor to comply with sections 116J.993 to I I6J.995. The court may award a prevailing party in an action under this subdivision costs and reasonable attorney fees. (b) Prior to bringing an action, the party must file a written complaint with the grantor stating the alleged violation and proposing a remedy. The grantor has up to 30 days to reply to the complaint in writing and may take action to comply with sections I I6J.993 to I I6J.995. (c) The written complaint under this subdivision for failure to comply with subdivisions 1 to 5, must be filed with the grantor within 180 days after approval of the subsidy agreement under subdivision 3, paragraph (d). An action under this subdivision must be commenced within 30 days following receipt of the grantor's reply, or within 180 days after approval of the subsidy agreement under subdivision 3, paragraph (d), whichever is later. History: 1999 c 243 art 12 s 2; 2000 c 482 s 2-I1; 2001 c 7 s 28; 2003 c 128 art 13 s 24-26; 1 Sp2003 c 4 s 1; 2004 c 206 s 24,25; 1 Sp2005 c I art 4 s 23,24; 1 Sp2005 c 3 art 7 s 2-5; 2008 c 366 art 5 s 3-5; 2017 c 94 art 7 s 11-13 Official Publication of the State of Minnesota Revisor of Statutes NOTICE OF PUBLIC HEARING CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY WRIGHT COUNTY, MINNESOTA AMENDED BUSINESS SUBSIDY CRITERIA Notice is hereby given that the Board of Commissioners of the City of Monticello Economic Development Authority (the "Authority") will meet at or after 6:00 p.m. on Wednesday, November 8, 2023, at the Monticello Community Center/City Hall located at 505 Walnut Street in the City of Monticello, Minnesota, to conduct a public hearing on the consideration and adoption of an amended and restated criteria for granting business subsidies (the "Amended Business Subsidy Policy") under Minnesota Statutes, Sections 1161993 through 116J.995, as amended. A copy of the Amended Business Subsidy Policy is available for inspection at the office of the Authority's Executive Director at City Hall during regular business hours. All interested persons may appear at the hearing and present their views on the matter orally or provide their comments prior to the meeting in writing. Dated: , 2023 BY ORDER OF THE BOARD OF COMMISSIONERS OF THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY /s/Jim Thares Executive Director MN190\101\906607.v1 EDA Agenda: 11/08/2023 4A. Consideration of Adootine Resolution No. 2023-12 authorizine a Purchase Aereement with Riverwood Bank for the acquisition of property to be platted as Outlot A, Great River Second Addition, a 14.16 acre vacant -underutilized land (REO property) parcel as well as Outlot A, Great River Addition, a 4.81 -acre parcel with a stormwater drainage pond, both of which are located on 7th Street West, in the amount of $415,000 Prepared by: Meeting Date: ❑x Regular Agenda Item Economic Development Manager 11/08/2023 ❑ Consent Agenda Item Reviewed by: Approved by: Community Development Director, City Administrator Community & Economic Development Coordinator, Finance Director ACTION REQUESTED Motion to adopt Resolution 2023-12 authorizing a Purchase Agreement with Riverwood Bank for the acquisition of property to be platted as Outlot A, GRSA (14.16 acres) of vacant - underutilized land as well as Outlot A, GRA, a 4.81 -acre parcel with a stormwater drainage pond, both of which are located on 7th Street West, in the amount of $415,000. REFERENCE AND BACKGROUND Recently, Riverwood Bank approached the City and then the EDA inquiring about any potential interest in purchasing the vacant and underutilized 14.16 -acre Bank REO property. The subject property is to be platted as Outlot A, Great River Second Addition) located on 7th Street West in Monticello. The site is currently guided as Commercial and Residential Flex (CRF) in the 2040 + Comprehensive Plan. The current zoning is B3 which is a highway commercial development district allowing uses such as car dealers, restaurants, retail, auto related service, etc. Vacant Outlot A has approximately 1,422 lineal feet of 1-94 frontage while access to the site is along 71h Street West. The second parcel in the proposed acquisition is Outlot A of the Great River Addition (GRA) and is a regional stormwater pond, providing stormwater capacity for a portion of the primary acquisition parcel. The proposed purchase price for both parcels (vacant and stormwater) is $415,000 or $0.6728 per square foot for the 14.16 -acre site. The stormwater pond parcel has minimal value ($10,500) and is an addition into the acquisition given the stormwater service, with no influence on the acquisition pricing. The 2023 Wright County tax value for the vacant parcel is $2,192,659 or $3.56 per square foot. Special assessments for the construction of 7th Street West, including utilities were levied against the property in 2013 and total approximately EDA Agenda: 11/08/2023 $554,000 +/-. Per the recorded Assessment Agreement, the special assessments are in deferral with the payment cycle commencing in 2024. Staff recommend that the EDA ask the City Council to consider a revised agreement allowing additional deferral of the special assessment until development occurs (Item 4B. on this EDA Mtg Agenda). As City staff began discussing the potential purchase of the vacant and underutilized parcel with Riverwood Bank representatives, the concept expanded to include the 4.81 -acre stormwater drainage site in the purchase as well. Riverwood Bank readily concurred that there is no practical use or interest for it to retain ownership of the stormwater site. Key terms of the Purchase Agreement include the following: • Section 3: Purchase price: $415,000 • Section 3: Warranty Deed/Marketable Title conveyance for both parcels at closing • Section 8: Proposed closing date and property vacate: December 20, 2023 • Section 12: 2023 Real Estate Property Taxes for calendar year 2023 - pro -rated between the Seller and the EDA • Section 12: Typical Seller -Buyer 50-50 split of closing costs, including Deed Tax Acquisition of the vacant parcel will expand the opportunity for economic development consistent with the Monticello 2040 Vision + Plan. The site's land use designation is intended to allow flexibility for compatible and supportive land uses. Possible uses may include commercial development meeting specific community needs such as medical office, childcare or hospitality. Purchase of the land could also support the EDA efforts in housing meeting demonstrated needs for senior or affordable housing. The EDA over time may also consider the potential for light industrial uses as well. The site's proximity to downtown and along the freeway make it an attractive development location. Budget Impact: The budget impact from the proposed purchase of the property will decrease the EDA General Fund in the amount of the purchase price of $415,000 plus closing costs estimated to be approximately $3,950 +/-. Legal fees related to document preparation are estimated to be $2,150 to $2,350. The EDA General Fund cash reserves are sufficient to cover the proposed purchase by the EDA. II. Staff Workload Impact: Internal City staff workload related to the proposed property purchase is modest. Staff involved in the property acquisition discussion includes the City Administrator, Community Development Director, Finance Director and the Economic Development Manager. Consultant staff involved in tasks related to the proposed purchase include the EDA attorney. III. Comprehensive Plan Impact: EDA acquisition of the property is in alignment with the City of Monticello 2040 Vision + Plan goals; Chapter 5. Economic Development. EDA Agenda: 11/08/2023 Language cited in this chapter includes "Goal 3: Downtown Vitality - "A vibrant and thriving Downtown that contributes to the City's economic development and housing objectives", and "Goal 4: Redevelopment and Reinvestment - "Redevelopment of vacant and underutilized parcel consistent with meeting the City's economic development, land use and community development design objectives". The acquisition is further supported by the City's objectives to pursue in-fil development as a primary avenue for growth opportunities. Comprehensive Plan excerpts are attached as Exhibit F and G. The Planning Commission is required to review the proposed property acquisition for conformity with the Comprehensive Plan. That review is scheduled to occur at the regular November 6, 2023, Planning Commission meeting. STAFF RECOMMENDATION City staff recommend that the EDA authorize the purchase agreement for the 14.16 -acre vacant underutilized parcel along 7t" Street West as well as the 4.81 -acre stormwater drainage pond lot. The opportunity to acquire these parcels to influence the future development of the City's economy and tax base is an important aspect of the proposed purchase. This objective is consistent with the City of Monticello 2040 Vision + Plan's goals of actions and activities that contribute the efforts in creating a vibrant and dynamic local economy. SUPPORTING DATA A. EDA Resolution No. 2023-12 B. Purchase Agreement C. WC Beacon Property Info Report #1 D. WC Beacon Property Info Report w/ Aerial Site Image #2 E. New Plat Illustration — Great River Second Addition F. Monticello 2040 Vision + Plan, Excerpts G. Zoning Map 2023 EDA RESOLUTION NO. 2023-12 RESOLUTION APPROVING A PURCHASE AGREEMENT FOR THE ACQUISITION OF PARCELS ALONG 7TH STREET WEST BY THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY BE IT RESOLVED BY the Board of Commissioners of the City of Monticello Economic Development Authority (the "Authority") as follows: Section 1. Recitals. 1.01. The Authority and RiverWood Bank, or an entity/entities related thereto or affiliated therewith (the "Seller"), desire to enter into a purchase agreement (the "Purchase Agreement") pursuant to which the Authority will acquire certain property located along 7t' Street West (the "Property") in the City of Monticello (the "City") from the Seller for economic development purposes. The Property is described in Exhibit A attached hereto. 1.02. Pursuant to the Purchase Agreement, the Authority will purchase the Property from the Seller for a total purchase price of $415,000, plus the Authority's share of the closing costs as defined in the Purchase Agreement. 1.03. Pursuant to Minnesota Statutes, Section 462.356, subd. 2, the Planning Commission of the City met on November 6, 2023, and reviewed the proposed acquisition of the Property and found that the acquisition is in conformity to the City's Comprehensive Plan (the "Comprehensive Plan"). 1.04. The Authority finds that acquisition of the Property conforms to the Comprehensive Plan and further finds that it will facilitate the economic development of the City by allowing the Authority to convey the Property to a private developer. Section 2. Purchase Agreement Approved. 2.01. The Authority hereby approves the Purchase Agreement in substantially the form presented to the Authority, and subject to modifications that do not alter the substance of the transaction and that are approved by the President and Executive Director, provided that execution of the Purchase Agreement by those officials shall be conclusive evidence of their approval. 2.02. Authority staff and officials are authorized to take all actions necessary to perform the Authority's obligations under the Purchase Agreement as a whole, including without limitation execution of any documents to which the Authority is a party referenced in or attached to the Purchase Agreement, and any other documents necessary to acquire the Property from the Seller, all as described in the Purchase Agreement. MN325-50-911931.v1 Approved this 8t' day of November, 2023, by the Board of Commissioners of the City of Monticello Economic Development Authority. President ATTEST: Executive Director MN325-50-911931.v1 EXHIBIT A Legal Description of the Property Outlot B, Great River Addition, according to the recorded plat thereof, County of Wright, State of Minnesota. PID Number 155226000020 Outlot A, Great River Addition, according to the recorded plat thereof, County of Wright, State of Minnesota. PID Number 155226000010 MN325-50-911931.v1 PURCHASE AGREEMENT 711 Street West, Monticello, Minnesota This Purchase Agreement (this "Agreement") is made as of this day of November, 2023, by and between RiverWood Bank, a chartered bank in the State of Minnesota ("Seller") and the City of Monticello Economic Development Authority, a public body politic and corporate under the laws of the State of Minnesota ("Buyer"). 1. PROPERTY. Seller is the owner of property located at 7th Street West in the City of Monticello, Minnesota, which is legally described on the attached Exhibit A (the "Property"). 2. OFFER/ACCEPTANCE. In consideration of and subject to the terms and provisions of this Agreement, Buyer offers and agrees to purchase, and Seller agrees to sell and hereby grants to Buyer the exclusive right to purchase the Property and all improvements thereon, together with all appurtenances. 3. PURCHASE PRICE FOR PROPERTY AND TERMS. a. PURCHASE PRICE: The total purchase price for the Property, representing the fair market value of the Property including any compensation attributable to Seller's relocation benefits pursuant to paragraph 16 hereof, is: Four Hundred and Fifteen Thousand and 00/100ths Dollars ($415,000.00) ("Purchase Price"). b. TERMS: EARNEST MONEY: No earnest money is required. 2. BALANCE DUE SELLER: Buyer agrees to pay the Purchase Price to the Seller by check or wire transfer on the Closing Date (defined hereafter) according to the terms of this Agreement. 3. DEED/MARKETABLE TITLE: Subject to performance by Buyer, Seller agrees to execute and deliver to Buyer a Warranty Deed conveying marketable fee simple title to the Property, free and clear of any mortgages, liens, or encumbrances other than matters created by or acceptable to Buyer, subject only to the following exceptions: Building and zoning laws, ordinances, state, and federal regulations; ii. Reservation of minerals or mineral rights to the State of Minnesota, if any; and iii. Public utility and drainage easements of record which will not interfere with Buyer's intended use of the Property. 4. DOCUMENTS TO BE DELIVERED AT CLOSING BY SELLER. In addition to the MN325-50-911906.v2 Warranty Deed required at paragraph 3.b.3. above, Seller shall deliver to Buyer at closing: a. An affidavit from Seller sufficient to remove any exception in Buyer's policy of title insurance for mechanics' and materialmens' liens and rights of parties in possession; b. A "bring -down" certificate, certifying that all of the warranties made by Seller in this Agreement remain true as of the Closing Date; Affidavit of Seller confirming that Seller is not a foreign person within the meaning of Section 1445 of the Internal Revenue Code; d. Well disclosure certification, if required, or, if there is no well on the Property, the Warranty Deed given pursuant to paragraph 3.b.3. above must include the following statement: "The Seller certifies that the Seller does not know of any wells on the described real property;" Any notices, certificates, and affidavits regarding any private sewage systems, underground storage tanks, and environmental conditions as may be required by state or federal statutes, rules, or regulations; f. Any other documents reasonably required by the title company or Buyer's attorney to evidence that title to the Property is marketable and that Seller has complied with the terms of this Agreement. 5. CONTINGENCIES. Buyer's obligation to purchase the Property is contingent upon the following: a. Approval of this Agreement by Buyer's governing body; b. Written findings by the Planning Commission of the City of Monticello that the acquisition of the Property conforms to the City Comprehensive Plan; Buyer conducting environmental investigations on the Property and receiving reports that are satisfactory to Buyer; and d. Buyer's determination of marketable title pursuant to paragraph 6 of this Agreement. Buyer shall have 30 days from the date of approval of this Agreement by the Buyer to remove or waive the foregoing contingencies (the "Due Diligence Period"). These contingencies are solely for the benefit of Buyer and may be waived by Buyer. If Buyer or its attorney gives written notice to Seller that all contingencies are duly satisfied or waived, Buyer and Seller shall proceed to close the transaction as contemplated herein. If one or more of the contingencies is not satisfied, or is not satisfied within the Due Diligence 2 MN325-50-911906.v2 Period, and is not waived by Buyer, this Agreement shall thereupon be void at the written option of Buyer. In that event, Buyer and Seller shall execute and deliver to each other documentation effecting the termination of this Agreement. Buyer shall also deliver to Seller copies of all documentation gathered during the Due Diligence Period, including without limitation all surveys and any environmental or soil tests. 6. TITLE EXAMINATION/CURING TITLE DEFECTS. Buyer will, at its expense, obtain a commitment for title insurance ("Commitment") for the Property from a title company of Buyer's choice. Buyer shall have 15 business days after the later of execution in full of this Agreement or receipt of the Commitment to examine the Commitment and to deliver written objections to title, if any, to Seller, or Buyer's right to do so shall be deemed waived. Seller shall have until the end of the Due Diligence Period (or such later date as the parties may agree upon) to make title marketable, at Seller's cost. In the event that title to the Property cannot be made marketable or is not made marketable by Seller within the Due Diligence Period, then this Agreement may be terminated at the option of Buyer. 7. ENVIRONMENTAL INVESTIGATIONS. Buyer acknowledges that it has been authorized by Seller to enter the Property and conduct environmental investigations of the Property. Seller shall provide to Buyer any environmental reports or information concerning the Property in Seller's possession at the time of execution of this Agreement. Buyer hereby agrees to indemnify and hold Seller harmless from and against any and all losses, claims, causes of action, liabilities and costs of defense incurred by Seller arising out of the actions of Buyer, its agents, employees, contractors or invitees in carrying out Buyer's environmental investigations, unless due to the negligence or willful misconduct of Seller or its agents, employees or contractors. 8. CLOSING DATE. The date of closing shall be December 20, 2023, or such later date as is mutually agreed by the parties ("Closing Date"). Delivery of all papers and the closing shall be made through escrow with the title company, or at such other location as is mutually agreed upon by the parties. All deliveries and notices to Buyer shall be made as provided in paragraph 17 of this Agreement. 9. POSSESSION. Seller agrees to deliver possession of the Property to Buyer on the Closing Date. All personal property must be removed by Seller prior to the Closing Date. Any personal property or debris left on the Property after the Closing Date will be disposed by Buyer at the expense of Seller. 10. SELLER'S WARRANTIES AND REPRESENTATIONS. Seller hereby represents and warrants to Buyer and Seller will represent and warrant to Buyer as of the Closing Date that: a. Sewer and water. Seller represents that to the best of Seller's knowledge; the Property is connected to City sewer and water. b. Mechanics' Liens. Seller warrants that, prior to the closing, Seller shall pay in full all amounts due for labor, materials, machinery, fixtures, or tools furnished within the 120 days immediately preceding the closing in connection with construction, alteration, or repair of any structure upon or improvement to the Property caused by or resulting from any action of Seller. MN325-50-911906.v2 C. Notices. Seller represents that Seller has not received any notice from any governmental authority as to violation of any law, ordinance, or regulation in connection with the Property. d. Tenants. Seller warrants that there are no tenants or third parties in possession of the Property. e. Broker Commission. Seller warrants that as of the date of this Agreement, that with the exception of Steve Schwanke with Inland Development Partners, who represents Seller, there is no agreement in effect with any other broker, agent, or representative who shall be entitled to any commission in connection with this transaction. Seller agrees to indemnify, defend, and hold Buyer harmless from the claims of any broker, real estate agent or similar party claiming through Seller. Seller further agrees to indemnify, defend, and hold Buyer harmless for any costs incurred by Buyer as a result of any legal process to adjudicate any fees claimed by any broker, agent, or representative in connection with this transaction. f. Condemnation. Seller has received no notice that there is any pending or, to the actual knowledge of Seller, threatened condemnation or similar proceeding affecting the Property or any portion thereof, and Seller has no actual knowledge that any such action is contemplated. g. Legal Proceedings. There are no legal actions, suits or other legal or administrative proceedings, pending or threatened, that affect the Property or any portion thereof, and Seller has no knowledge that any such action is presently contemplated. h. Legal Capacity. Seller has the authority and the legal capacity to enter into this Agreement. Seller has not filed, voluntarily or involuntarily, for bankruptcy relief within the last year under the United States Bankruptcy Code, nor has any petition for bankruptcy or receivership been filed against Seller within the last year. Methamphetamine Production. To the best of Seller's knowledge, methamphetamine production has not occurred on the Property. j. Underground Tanks. To the best of Seller's knowledge, the Property does not contain any underground storage tanks of any size or description. k. Wells. Seller certifies that the Seller does not know of any wells on the Property. Sewage Systems. Seller does not know of any individual sewage treatment systems on or serving the Property, or if any individual sewage treatment systems exist, Seller shall comply with all applicable statutory disclosure requirements regarding such individual sewage treatment systems. Seller's representations and warranties set forth in this paragraph shall be continuing and are 4 MN325-50-911906.v2 deemed to be material to Buyer's execution of this Agreement and Buyer's performance of its obligations hereunder. All such representations and warranties shall be true and correct on or as of the Closing Date with the same force and effect as if made at that time; and all of such representations and warranties shall survive closing and any cancellation or termination of this Agreement, and shall not be affected by any investigation, verification or approval by any part hereto or by anyone on behalf of any party hereto. Seller agrees to defend, indemnify, and hold Buyer harmless for, from and against any loss, costs, damages, expenses, obligations, and attorneys' fees incurred should an assertion, claim, demand, or cause of action be instituted, made, or taken, which is contrary to or inconsistent with the representations or warranties contained herein. 11. BUYER'S ACKNOWLEGEMENT. Buyer acknowledges and agrees that, except as otherwise provided herein, having been given the opportunity to inspect the property and review available information and documentation affecting the property, Buyer is relying solely on its own investigation of the Property and review of such information and documentation. Buyer acknowledges and agrees that no representations or statements have been made by Seller in order to induce Buyer to enter into this transaction other than as expressly stated herein, and that Buyer has not relied upon any representations or statements other than as expressly stated herein. Buyer further acknowledges and agrees that, except as expressly provided herein, the sale of the Property as provided for herein is made on an "as -is, where is" condition and basis with all faults and conditions (environmental and all other), and that Seller has no obligation to make any remediation, repairs, replacements, or improvements whatsoever. 12. CLOSING COSTS/RECORDING FEES/DEED TAX. At Closing, Seller shall pay: (a) prorated property taxes due and payable in the year of Closing through the Closing Date; (b) the cost of any documents required to clear title or to evidence marketable title, including fees and charges to record such documents; (c) one-half of all closing fees customarily charged by the title company; (d) Seller's legal fees; and (e) any real estate broker commissions. Buyer shall pay: (a) the costs of any environmental investigation and survey costs ordered by Buyer; (b) costs of an initial title commitment, title insurance and endorsements; (c) recording fees and charges related to the filing of the Warranty Deed from Seller; (d) any transfer or deed taxes due as a result of this transaction; (e) prorated property taxes due and payable in the year of Closing on and after the Closing Date; (f) one-half of all closing fees customarily charged by the title company; and (g) Buyer's legal and accounting fees. 13. INSPECTIONS. From the date of this Agreement to the Closing Date, Buyer, its employees, and agents, shall be entitled to enter upon the Property to conduct such surveying, inspections, investigations, soil borings and testing, and drilling, monitoring, sampling, and testing of groundwater monitoring wells, as Buyer shall elect. Buyer shall also be entitled to a general walk-through inspection within five days of the Closing Date. Buyer shall immediately repair any damage caused by its inspection activities. 14. INSURANCE; RISK OF LOSS. a. If there is any loss or damage to the Property between the date hereof and the Closing Date, for any reason including fire, vandalism, flood, earthquake or act of 5 MN325-50-911906.v2 God, the risk of loss shall be on Seller. If the Property is destroyed or substantially damaged before the Closing Date, this Agreement shall become null and void, at Buyer's option. At the request of Buyer, Seller agrees to sign a cancellation of Purchase Agreement. b. Following the Closing Date, the Buyer shall procure and maintain property insurance against the Property. Buyer shall assume all risk of damage or destruction to the Property following the Closing Date. 15. DEFAULT/REMEDIES. If Buyer defaults under this Agreement, Seller has the right to terminate this Agreement by giving written notice of such election to Buyer, pursuant to Minnesota Statutes, Section 559.21. Time is of the essence of this Agreement. The termination of this Agreement will be the sole remedy available to Seller for such default by Buyer, and Buyer will not be further liable for damages. If Seller defaults under this Agreement, Buyer shall have the right (i) to terminate this Agreement, or (ii) to enforce and recover from Seller specific performance of this Agreement. The termination of this Agreement or the enforcement and recovery from Seller of specific performance of this Agreement shall be the sole remedies available to Buyer for such default by Seller, and Seller shall not be further liable for damages. 16. RELOCATION BENEFITS; INDEMNIFICATION. Seller acknowledges that in the event that Seller is eligible for relocation assistance and benefits, the Purchase Price includes compensation for any and all relocation assistance and benefits for which Seller may be eligible, including benefits for loss of going concern. The provisions of this paragraph shall survive closing of the transaction contemplated by this Agreement. For purposes of this Agreement, "relocation assistance and benefits" shall have the meanings ascribed to them by the Uniform Relocation Assistance and Real Property Acquisition Policies Act, 42 U.S.C. Sections 4601-4655 (the federal URA) and the regulations implementing the federal URA, 49 C.F.R. Sections 24.1-24.603. 17. NOTICE. Any notice, demand, request, or other communication which may or shall be given or served by the parties, shall be deemed to have been given or served on the date the same is personally served upon one of the following indicated recipients for notices or is deposited in the United States Mail, registered or certified, return receipt requested, postage prepaid and addressed as follows: SELLER: RiverWood Bank 6 MN325-50-911906.v2 BUYER: City of Monticello Economic Development Authority 505 Walnut Street, Suite 1 Monticello, MN 55362 Attn: Executive Director 18. ENTIRE AGREEMENT. This Agreement, including exhibits attached hereto, and any amendments hereto signed by the parties, shall constitute the entire agreement between Seller and Buyer and supersedes any other written or oral agreements between the parties relating to the Property. This Agreement can be modified only in a writing properly signed on behalf of Seller and Buyer. 19. SURVIVAL. Notwithstanding any other provisions of law or court decision to the contrary, the provisions of this Agreement shall survive closing. 20. BINDING EFFECT. This Agreement binds and benefits the parties and their successors and assigns. 21. ELECTRONIC SIGNATURES; EXECUTION IN COUNTERPARTS. The electronic signature of the parties to this Agreement shall be as valid as an original signature of such party and shall be effective to bind the parties hereto. For purposes hereof, (i) "electronic signature" means a manually signed original signature that is then transmitted by electronic means; and (ii) "transmitted by electronic means" means sent in the form of a facsimile or sent via the internet as a portable document format ("pdf ') or other replicating image attached to an electronic mail or internet message. This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. (The remainder of this page is intentionally left blank) 7 MN325-50-911906.v2 IN WITNESS WHEREOF, the undersigned have executed this Agreement on the date and year above. Buyer: Seller: City of Monticello Economic Development Authority By: By: Its: President Its: By: Its: Executive Director 8 MN325-50-911906.v2 EXHIBIT A Legal Description of the Property A portion of Outlot B, Great River Addition (PID Number 155226000020), which will be platted as Outlot A, Great River 2nd Addition, County of Wright, State of Minnesota. Outlot A, Great River Addition, according to the recorded plat thereof, County of Wright, State of Minnesota. PID Number 155226000010 A-1 MN325-50-911906.v2 Wright County, MN Summary Parcel ID 155226000020 Property Address Unit Sec/Twp/Rng 11-121-025 Brief Tax SECT-11TWP-121 RANGE -025 GREAT RIVERADDITION Description OUTLOTB Code (Note: Not to be used on legal documents) Class 233-3A COMMERCIAL LAND AND BUILDING District (1101) CITY OF MONTICELLO-0882 School District 0882 1 (Note: Class refers to Assessor's Classification Used For 0 0 0 0 174,240.000 5 Property Tax Purposes) GIS Acres Parcel: 155226000020 Acres: 20.17 Acres USAB: 20.17 Acres WATE: 0.00 Acres ROW: 0.00 Sq Ft: 878,643.18 Owner Primary Owner RIVERWOOD BANK 14540 DELLWOOD DR BAXTER MN 56425 Land Recent Sales In Area Sale date range: From: 10/23/2020 To: 10/23/2023 Sales by Neighborhood Sales by Subdivision 1500 Feet v II Sales by Distance Transfer History �l 1 Grantor RIVERWOOD BANK; CITY OF MONTICELLO Note: Transfer History data is from LandLink beginning 01/01/2003. Valuation Grantee GREAT RIVER ADDITION Recorded Date Doc Type Doc No 12/9/2013 PLT 1253597 2023Assessment 2022Assessment Unit 2020Assessment 2019Assessment + Estimated Land Value Eff $2,429,200 Seq Code CER Dim 1 Dim 2 Dim 3 Units UT Price Adj 1 Adj 2 Adj 3 Rate Div% Value 1 194 WEST 0 0 0 0 174,240.000 5 4.500 -17.00 0.00 0.00 3.735 1.000 650,800 2 194 WEST 0 0 0 0 704,402.000 S 4.500 -22.00 0.00 0.00 3.510 1.000 2,472,500 Total 878,642.000 3,123,300 Recent Sales In Area Sale date range: From: 10/23/2020 To: 10/23/2023 Sales by Neighborhood Sales by Subdivision 1500 Feet v II Sales by Distance Transfer History �l 1 Grantor RIVERWOOD BANK; CITY OF MONTICELLO Note: Transfer History data is from LandLink beginning 01/01/2003. Valuation Grantee GREAT RIVER ADDITION Recorded Date Doc Type Doc No 12/9/2013 PLT 1253597 2023Assessment 2022Assessment 2023Assessment 2020Assessment 2019Assessment + Estimated Land Value $3,123,300 $2,429,200 $2,429,200 $2,428,100 $1,800,400 + Estimated Building Value $0 $0 $0 $0 $0 + Estimated Machinery Value $0 $0 $0 $0 $0 = Total Estimated Market Value $3,123,300 $2,429,200 $2,429,200 $2,428,100 $1,800,400 Taxation Taxation (Preliminary 2023 Taxes Payable) 2022 Payable 2021 Payable 2020 Payable 2019 Payable Estimated Market Value $2,429,200 $2,428,100 $1,800,400 $1,800,400 Excluded Value $0 $0 $0 $0 Homestead Exclusion $0 $0 $0 $0 = Taxable Market Value $2,429,200 $2,428,100 $1,800,400 $1,800,400 Net Taxes Due $67,550.00 $67,248.00 $50,652.00 $52,356.00 + Special Assessments $0.00 $0.00 $0.00 $0.00 = Total Taxes Due $67,550.00 $67,248.00 $50,652.00 $52,356.00 % Change 0.45% 32.76% -3.25% 0.00% Taxation (Preliminary 2023 Taxes Payable) Taxes and Special Assessments Payable in 2023 are preliminary Taxes Paid Receipt# 2023 Proposed 2022 Payable Estimated Market Value $2,429,200 $2,429,200 Excluded Value $0 $0 Homestead Exclusion $0 $0 = Taxable Market Value $2,429,200 $2,429,200 Net Taxes Due $61,510.00 $67,550.00 + SpecialAssessments $0.00 $0.00 = Total Taxes Due $61,510.00 $67,550.00 % Change -8.94% 0.45% Taxes and Special Assessments Payable in 2023 are preliminary Taxes Paid Receipt# Receipt Print Date Bill Pay Year Amt Adj Amt Write Off Amt Charge Amt Payment 1802711 10/14/2022 2022 $0.00 $0.00 $0.00 ($33,775.00) 1763862 5/11/2022 2022 $0.00 $0.00 $0.00 ($33,775.00) 1736040 10/19/2021 2021 $0.00 $0.00 $0.00 ($33,624.00) 1693477 5/11/2021 2021 $0.00 $0.00 $0.00 ($33,624.00) 1655121 10/15/2020 2020 $0.00 $0.00 $0.00 ($25,326.00) 1609924 5/7/2020 2020 $0.00 $0.00 $0.00 ($25,326.00) 1578689 10/15/2019 2019 $0.00 $0.00 $0.00 ($26,178.00) 1546094 5/15/2019 2019 $0.00 $0.00 $0.00 ($26,178.00) 1498076 10/12/2018 2018 $0.00 $0.00 $0.00 ($24,948.00) 1467460 5/16/2018 2018 $0.00 $0.00 $0.00 ($24,948.00) 1422861 10/16/2017 2017 $0.00 $0.00 $0.00 ($18,433.00) 1373149 5/9/2017 2017 $0.00 $0.00 $0.00 ($18,433.00) 1322576 10/11/2016 2016 $0.00 $0.00 $0.00 ($19,353.00) 1291557 5/16/2016 2016 $0.00 $0.00 $0.00 ($19,353.00) Map No data available for the following modules: Land GA/RP, Buildings, Extra Features, OBY, OBY (Working 2024 Assessment), Sales, Photos, Sketches. The information provided on this site is intended for reference purposes only. The information is Contact Us not suitable for legal, engineering, or surveying purposes. Wright County does not guarantee the �•� Schneider accuracy of the information contained herein. GE 0 SPAT i A L User PrivacyPolicy I GDPR Privacy Notice Last Data Upload: 10/23/2023, 6:41:02 AM Riverwood Site - 14.17 Acres - Zoned B-3, Highway Business District s i• �I Cal f Ad 1 in = 400 Ft N A October 23, 2023 Map Powered By Datafi wSb roI31(se1'S Beacon Foec�S Wright County, MN 1.4 . 1` o,«e tor V40"t 90f Cal Parcel ID 155226000020 Alternate ID n/a Sec/Twp/Rng 11-121-025 Class 233 - 3A COMMERCIAL LAND AND BUILDING Property Address Acreage 20.17 Acres District (1101) CITY OF MONTICELLO-0882 Brief Tax Description SECT -11 TWP-121 RANGE -025 GREAT RIVER ADDITION OUTLOT B (Note: Not to be used on legal documents) Date created: 11/1/2023 Last Data Uploaded: 11/1/2023 7:21:06 AM Developed by" Schneider GEOSPATIAL Interstate r. State Hwy US Hwy City/Township Limits ®c Rt Parcels ■ Torrens Owner Address RIVERWOOD BANK 14540 DELLWOOD DR BAXTER, MN 56425 11/1/23, 2:34 PM Beacon - Wright County, MN - Report: 155226000020 Wright County, MN Summary Parcel ID 155226000020 Property Address Parcel: 155226000020 Sec/Twp/Rng 11-121-025 Brief Tax SECT -11 TWP-121 RANGE -025 GREAT RIVER ADDITION Description OUTLOT B 3.735 1.000 (Note: Not to be used on legal documents) Class 233 - 3A COMMERCIAL LAND AND BUILDING District (1101) CITY OF MONTICELLO-0882 School District 0882 Sq Ft: 878,643.18 (Note: Class refers to Assessor's Classification Used For $0 Property Tax Purposes) GIS Acres Unit Eff Parcel: 155226000020 Units UT Price Adi 1 Adj 2 Adj 3 Acres: 20.17 Value 174,240.000 S Acres USAB: 20.17 3.735 1.000 650,800 Acres WATE: 0.00 4.500 -22.00 0.00 0.00 3.510 1.000 Acres ROW: 0.00 878,642.000 $0 Sq Ft: 878,643.18 3,123,300 $0 Owner $0 $0 Primary Owner $3,123,300 $2,429,200 RIVERWOOD BANK $2,428,100 $1,800,400 14540 DELLWOOD DR BAXTER MN 56425 Land Seq Code CER Dim 1 Dim 2 Dim 3 1 194 WEST 0 0 0 0 2 194 WEST 0 0 0 0 Total Recent Sales In Area Sale date range: From: 11/01/2020 To: 11/01/2023 Sales by Neighborhood Sales by Subdivision 1500 Feet Sales by Distance Transfer History Grantor RIVERWOOD BANK; CITY OF MONTICELLO Note: Transfer History data is from Landl-ink beginning 01/01/2003. Valuation Grantee GREAT RIVER ADDITION Recorded Date Doc Type Doc No 12/9/2013 PLT 1253597 Unit Eff 2021 Assessment Units UT Price Adi 1 Adj 2 Adj 3 Rate Div % Value 174,240.000 S 4.500 -17.00 0.00 0.00 3.735 1.000 650,800 704,402.000 S 4.500 -22.00 0.00 0.00 3.510 1.000 2,472,500 878,642.000 $0 + Estimated MachineryValue 3,123,300 Grantee GREAT RIVER ADDITION Recorded Date Doc Type Doc No 12/9/2013 PLT 1253597 https:Hbeacon.schneidercorp.com/Application.aspx?APPID=187&LaveriD=2505&PageTvpeID=4&PagelD=1310&KevValue=155226000020 1/3 2023 Assessment 2022 Assessment 2021 Assessment 2020 Assessment 2019 Assessment + Estimated Land Value $3,123,300 $2,429,200 $2,429,200 $2,428,100 $1,800,400 + Estimated Building Value $0 $0 $0 $0 $0 + Estimated MachineryValue $0 $0 $0 $0 $0 = Total Estimated Market Value $3,123,300 $2,429,200 $2,429,200 $2,428,100 $1,800,400 https:Hbeacon.schneidercorp.com/Application.aspx?APPID=187&LaveriD=2505&PageTvpeID=4&PagelD=1310&KevValue=155226000020 1/3 11/1/23, 2:34 PM Taxation Beacon - Wright County, MN - Report: 155226000020 Map IV No data available for the following modules: Land GA/RP, Buildings, Extra Features, OBY, OBY (Workiiig 2024 Assessment), Sales, Photos, Sketches. https://beacon.schneidercorp.com/Application.aspx?APPID=187&LaverlD=2505&PageTvpeID=4&PagelD=1310&KevValue=155226000020 2/3 2022 Payable 2021 Payable 2020 Payable 2019 Payable Estimated Market Value $2,429,200 $2,428,100 $1,800,400 $1,800,400 - Excluded Value $0 $0 $0 $0 - Homestead Exclusion $0 $0 $0 $0 = Taxable Market Value $2,429,200 $2,428,100 $1,800,400 $1,800,400 Net Taxes Due $67,550.00 $67,248.00 $50,652.00 $52,356.00 + Special Assessments $0.00 $0.00 $0.00 $0.00 = Total Taxes Due $67,550.00 $67,248.00 $50,652.00 $52,356.00 % Change 0.45% 32.76% 0.00% Taxation (Preliminary 2023 Taxes Payable) 2023 Proposed 2022 Payable Estimated Market Value $2,429,200 $2,429,200 - Excluded Value $0 $0 - Homestead Exclusion $0 $0 = Taxable Market Value $2,429,200 $2,429,200 Net Taxes Due $61,510.00 $67,550.00 + Special Assessments $0.00 $0.00 = Total Taxes Due $61,510.00 $67,550.00 % Change -8.94% 0.45% Taxes and Special Assessments Payable in 2023 are preliminary. Taxes Paid Receipt # Receipt Print Date Bill Pay Year Amt Adj Amt Write Off Amt Charge Amt Payment 1802711 10/14/2022 2022 $0.00 $0.00 $0.00 ($33,775.00) 1763862 5/11/2022 2022 $0.00 $0.00 $0.00 ($33,775.00) 1736040 10/19/2021 2021 $0.00 $0.00 $0.00 ($33,624.00) 1693477 5/11/2021 2021 $0.00 $0.00 $0.00 ($33,624.00) 1655121 10/15/2020 2020 $0.00 $0.00 $0.00 ($25,326.00) 1609924 5/7/2020 2020 $0.00 $0.00 $0.00 ($25,326.00) 1578689 10/15/2019 2019 $0.00 $0.00 $0.00 ($26,178.00) 1546094 5/15/2019 2019 $0.00 $0.00 $0.00 ($26,178.00) 1498076 10/12/2018 2018 $0.00 $0.00 $0.00 ($24,948.00) 1467460 5/16/2018 2018 $0.00 $0.00 $0.00 ($24,948.00) 1422861 10/16/2017 2017 $0.00 $0.00 $0.00 ($18,433.00) 1373149 5/9/2017 2017 $0.00 $0.00 $0.00 ($18,433.00) 1322576 10/11/2016 2016 $0.00 $0.00 $0.00 ($19,353.00) 1291557 5/16/2016 2016 $0.00 $0.00 $0.00 ($19,353.00) Map IV No data available for the following modules: Land GA/RP, Buildings, Extra Features, OBY, OBY (Workiiig 2024 Assessment), Sales, Photos, Sketches. https://beacon.schneidercorp.com/Application.aspx?APPID=187&LaverlD=2505&PageTvpeID=4&PagelD=1310&KevValue=155226000020 2/3 11/1/23, 2:48 PM Beacon - Wright County, MN - Report: 155226000010 Wright County, MN Summary Parcel ID 155226000010 Property Address 2021 Assessment Sec/Twp/Rng 11-121-025 Brief Tax SECT -11 TWP-121 RANGE -025 GREAT RIVER ADDITION Description OUTLOTA $4,800 (Note: Not to be used on legal documents) Class 233 - 3A COMMERCIAL LAND AND BUILDING District (1101) CITY OF MONTICELLO-0882 School District 0882 + Estimated Machinery Value (Note: Class refers to Assessor's Classification Used For $0 Property Tax Purposes) GIS Acres Parcel: 155226000010 Acres: 4.81 Acres USAB: 4.81 Acres WATE: 0.00 Acres ROW: 0.00 Sq Ft: 209,686.52 Owner Primary Owner RIVERWOOD BANK 14540 DELLWOOD DR BAXTER MN 56425 Land Seq Code CER Dim 1 Dim 2 Dim 3 1 Cl WASTE 0 0 0 0 Total Recent Sales In Area Sale date range: From: 11/01/2020 To: 11/01/2023 rales by Neighborhood. gales by Subdivision 1500 Feet V Sales by Distance Transfer History Grantor RIVERWOOD BANK; CITY OF MONTICELLO Note: Transfer History data is from LandLink beginning 01/01/2003. Valuation Unit Eff Units UT Price Adj 1 Adj 2 Adj 3 Rate Div % Value 209,686.000 S 0.050 0.00 0.00 0.00 0.050 1.000 10,500 209,686.000 10,500 Grantee GREAT RIVER ADDITION Recorded Date Doc Type Doc No 12/9/2013 PLT 1253597 https://beacon.schneidercorp.com/Application.aspx?AppID=187&LaverlD=2505&PageTvpelD=4&Pagel D=1310&KevValue=155226000010 1/3 2023 Assessment 2022 Assessment 2021 Assessment 2020 Assessment 2019 Assessment + Estimated Land Value $10,500 $6,700 $4,800 $4,800 $4,800 + Estimated Building Value $0 $0 $0 $0 $0 + Estimated Machinery Value $0 $0 $0 $0 $0 = Total Estimated Market Value $10,500 $6,700 $4,800 $4,800 $4,800 https://beacon.schneidercorp.com/Application.aspx?AppID=187&LaverlD=2505&PageTvpelD=4&Pagel D=1310&KevValue=155226000010 1/3 11/1/23, 2:48 PM Taxation Estimated Market Value 2021 Payable - Excluded Value 2019 Payable - Homestead Exclusion $4,800 = Taxable Market Value $4,800 Net Taxes Due $0 + Special Assessments $0 = Total Taxes Due $0 % Change $0 Taxation (Preliminary 2023 Taxes Payable) Estimated Market Value $4,800 - Excluded Value $136.00 - Homestead Exclusion $140.00 = Taxable Market Value $0.00 Net Taxes Due $0.00 + Special Assessments $136.00 = Total Taxes Due $140.00 % Change 0.00% Taxes and Special Assessments Payable in 2023 are preliminary. Taxes Paid 0.00% Receipt # Receipt Print Date Bill Pay Year 1802712 10/14/2022 2022 1763859 5/11/2022 2022 1729628 10/14/2021 2021 1693460 5/11/2021 2021 1655059 10/15/2020 2020 1609925 5/7/2020 2020 1578690 10/15/2019 2019 1546095 5/15/2019 2019 1498075 10/12/2018 2018 1467459 5/16/2018 2018 1422862 10/16/2017 2017 1373150 5/9/2017 2017 1322577 10/11/2016 2016 1291558 5/16/2016 2016 Map Beacon - Wright County, MN - Report: 155226000010 2022 Payable 2021 Payable 2020 Payable 2019 Payable $4,800 $4,800 $4,800 $4,800 $0 $0 $0 $0 $0 $0 $0 $0 $4,800 $4,800 $4,800 $4,800 $136.00 $136.00 $140.00 $144.00 $0.00 $0.00 $0.00 $0.00 $136.00 $136.00 $140.00 $144.00 0.00% # " -2.78% 0.00% $0.00 $0.00 2023 Proposed 2022 Payable $0.00 $0.00 $6,700 $4,800 $0.00 $0.00 $0 $0 $0.00 $0.00 $0 $0 $0.00 $0.00 $6,700 $4,800 $0.00 $0.00 $174.00 $136.00 $0.00 $0.00 $174.00 $136.00 27.94% 0.00% Amt Adj Amt Write Off Amt Charge Amt Payment $0.00 $0.00 $0.00 ($68.00) $0.00 $0.00 $0.00 ($68.00) $0.00 $0.00 $0.00 ($68.00) $0.00 $0.00 $0.00 ($68.00) $0.00 $0.00 $0.00 ($70.00) $0.00 $0.00 $0.00 ($70.00) $0.00 $0.00 $0.00 ($72.00) $0.00 $0.00 $0.00 ($72.00) $0.00 $0.00 $0.00 ($69.00) $0.00 $0.00 $0.00 ($69.00) $0.00 $0.00 $0.00 ($70.00) $0.00 $0.00 $0.00 ($70.00) $0.00 $0.00 $0.00 ($74.00) $0.00 $0.00 $0.00 ($74.00) _.-�1•`_aJ>•Ifi�ft(1r_l�1_tl d i / 6 No data available for the following modules: Land GA/RP, Buildings, Extra Features, OBY, OBY kWorking 2024 Assessment), Sales, Photos, Sketches. https:Hbeacon.schneidercorp.com/Application.aspx?AppID=187&LaverlD=2505&PageTvpeID=4&PagelD=1310&KevValue=155226000010 2/3 GREAT RIVER SECOND ADDITION KNOW ALL PERSONS BY THESE PRESENTS: That Riverwood Bank, Federal Savings Bank under the laws of the United States, owner of the following described property situated in the County of Wright, State of Minnesota, to wit: Outlot B, GREAT RIVER ADDITION, Wright County, Minnesota Has caused the same to be surveyed and platted as GREAT RIVER SECOND ADDITION, and does hereby dedicate to the public for public use the drainage and utility easements as created by the plat. In witness whereof said Riverwood Bank, Federal Savings Bank under the laws of the Unites States, has caused these presents to be signed by its proper officer this day of Greg Schultz, Big Lake Branch President 13 CITY OF MONY/CELLO WRIGHT COUNTY, MN STATE of VVICINITY MAP COUNTY OF 0 100 Sec. 10 right Co11, pnty, MN ng. 25 LEGEND: This instrument was acknowledged before me this day of 20 by Greg Schultz, (SCALE IN FEET) Denotes found %'2 inch iron pipecapped LS 44606, unless its Big Lake Branch President, on behalf of Riverwood Bank, Federal Savings Bank under the laws of the Unites States. SCALE: I INCH = 100 FEET otherwise noted® Denotes Y2 inch by 14 inch iron Bearings are based on the plat of GREAT RIVER pipe with a plastic plug stamped ADDITION. For the purpose of this plat, the East R.L.S. 47466, unless otherwise Notary Public, County, Minnesota line of Outlot B is assumed to bear South 0 noted, to be set within one year Signature degrees 22 minutes 05 seconds West of platting date Q Denotes found cast iron monument xPK Denotes found PK nail My Commission Expires Drainage and Utility Easements are LS 16321 Denotes David Thorp, LS (Printed Name) shown thus: LS 13637 Denotes Paul Thorp, LS 1112LS 44606 Denotes Kyle Klasen, LS I, Craig A. Wensmann, do hereby certify that this plat was prepared by me or under my direct supervision; that I am a duly / _ /2+— _ — — — — — —1 _ LS 15233 Denotes Dennis Taylor, LS Licensed Land Surveyor in the State of Minnesota; that this plat is a correct representation of the boundary survey; that all / — — — — — Denotes easement mathematical data and labels are correctly designated on this plat; that all monuments depicted on this plat have been, or will be N 8 009'10 W / NOT TO SCALE Denotes existing adjoiners correctly set within one year; that all water boundaries and wet lands, as defined in Minnesota Statutes 505.01, Subd. 3, as of the date of this certificate are shown and labeled on this plat; and all public ways are shown and labeled on this plat. Being 12 feet in width and adjoining lot lot \/v lines unless otherwise indicated on the plat. Craig A. Wensmann, Land Surveyor Minnesota License No. 47466 STATE OF MINNESOTA �; �`� / / \ N 87011'47" W COUNTY OF �- �f 30.00 7110 The foregoing Surveyor's Certificate was acknowledged before me this day of �� 20 by Craig A. Wensmann Land Surveyor, Minnesota License Number 47466. k9 / Drainage and Utility Easement (Per GREA T RIVER ADDI TION) — _ ' / �� / 04 U, NOr he°S \ — =12040, / 94p'/ `\?89� X09?'`��T y County, Minnesota / °�% / \fie Signature Notary Public, \ �� / \� \ ter/ e °j` oU � \ 98 09 / Sgt 0 / \ / �e5 Lot 1 t B i .00 My Commission Expires I � � (Printed Name) F, �� 'Q�— — — CITY OF MONTICELLO PLANNING COMMISSION N 84°59'04" E \/ / Inch IP �2 , 110 / Be it known that at a meeting held on this day of \/ / / •4p 44606 33.03 I I IP Y 14 =11,0159 0 20 the Planning Commission of the Cit of Monticello, Minnesota, did hereby < oh i /2 foot wide Drainage 4,20 , �� CO o , „ 2 69� g y y / and Utility Easement ��/� X946 N 88 54 50 E Inch I L=97. / review and approve this plat of GREAT RIVER SECOND ADDITION �� i ca �c� T r< Doc. No. 5676/8 \ X4`3• R_496.00 — 235.25 Open S 89°53'44" E 300.82 R=507.31 Block 1 / �e5� Ir'�� L/ --------------- — — -- 2 1 I/ I r\, A ^ n I /P %2 I 1253,36„ Inch Open I \11 K, ;' ;'.'-II ; V' Chairperson Secretary \ i �t �� /nchl I /P %2 22 Open 12 / ph Open Inch p 1 i i en I ams„ 460 � �— Open CITY COUNCIL, CITY OF MONTICELLO, MINNESOTA r' This plat of GREAT RIVER SECOND ADDITION was approved and accepted by the City Council of the City of Monticello, Minnesota, at a regular meeting thereof held this day of 20 and said plat is in compliance with the provisions of Minnesota Statutes, Section 505.03, Subd. 2. Outlot /"'1 i _ Mayor City Clerk �55./8 L6 ' p • Q o WRIGHT COUNTY SURVEYOR o° 13 I hereby certify that in accordance with Minnesota Statutes, Section 505.021, Subd. 11, this plat has been reviewed and approved this,i day of 20 o Q I ti) `- '04,117. cn I � eSter/y /i e ° 23I � � I Z `u I �0 n f o opt/°t B Wright County Surveyor I I \ I Northe 23/6„ o I ��' Drainage and Utility Easement WRIGHT COUNTY HIGHWAY ENGINEER r °Star/ /9 o I r—i �j // (Per GREAT RIVER ADDI TION ' �_ �, W This plat was reviewed and recommended for approval this day of 20 wa298 133 33 & KIRKMAN ADDITION) I r Of , state t ter ate Wright County Engineer ¢029 IP Y2 Inch34 48 I lP ^ r, r, i —I— i i, e i WRIGHT COUNTY LAND RECORDS pen2, I I I I I I I I I I, Inch ' I L. L. I , I .. I Pursuant to Minnesota Statutes, Section 505.021, Subd. 9, taxes payable for the year 20 on the land hereinbefore described have been paid. Also, pursuant to X5394 Open Minnesota Statutes, Section 272.12, there are no delinquent taxes and transfer entered this day of 20 N 79°4527„ . W Wright County Land Records Administrator WRIGHT COUNTY RECORDER I hereby certify that this instrument was filed in the Office of the County Recorder for record on this day of 20 at o'clock .M. and was duly recorded in Cabinet No. Sleeve as Document No. Wright County Recorder BOGART, PEDERSON & ASSOC/AYES, INC. AREAS OF ECONOMIC DEVELOPMENT FOCUS AND INVESTMENT The following areas represent opportunities in the city to help drive economic growth and further support the community's goals related to economic development. 1. Industrial Land: This comprehensive plan designates approximately 1,600 acres of land for industrial uses, including land within the Northwest area, south along Highway 25, and in the Otter Creek Business Park. In 2020, the City completed an industrial feasibility study evaluating these areas in greater detail for their industrial potential. In alignment with the goals and policies of this chapter, the City should actively pursue the development of additional industrial land through business attraction. 2. Oakwood Industrial Park: In alignment with the goals for advancement of living wage employment and intensification of tax base, there is opportunity to convert some parcels within Oakwood Industrial Park to light manufacturing from their current heavy industrial uses and/or convert large areas of unused land or outdoor storage. The City should explore opportunities to use State redevelopment grants and rehabilitation programs for these sites. 3. 1-94 Interchange and Highway 25 Interchange Area: The land uses and parcel configurations in these key intersection areas may not be optimal. The City should be prepared to work with property owners and developers as market opportunities arise to better align these visible areas for future reinvestment and/or redevelopment. 4. Downtown: The Downtown area, identified as Downtown Mixed Use in this plan, represents a focused opportunity area. This includes specific attention on the Walnut Corridor, Block 52, Block 34, and the Northeast corner of Cedar Street and Broadway. Opportunities for improvement include land uses consistent with the Downtown Small Area Plan as well as streetscape, landscape and circulation improvements. 5. Mixed Neighborhood Areas: The City should work to maintain the oldest residential neighborhoods in areas adjacent to the Downtown. Efforts should be made to maintain housing choices, redevelopment where appropriate, the introduction of neighborhood centers and the possible introduction of local specialty retail where appropriate. 6. Highway 25 Corridor South: There are a number of areas and sites that could present reinvestment and/or redevelopment opportunity along Highway 25 south between 1-94 and School Boulevard. The Economic Development Authority (EDA) should continue to work with property owners on their desire to sell, redevelop and reinvest in their sites for commercial development. Downtown Monticello Monticello Crossing Apartments Carlisle Village Townhomes, Source: City of Monticello 128 ECONOMIC DEVELOPMENT IMPLEMENTATION CHART: ECONOMIC DEVELOPMENT SHORT- LONG- ONGOINGTHEME TERM TERM • • = • • • MONTICELLO 2040 VISION + PLAN 225 Policy 2.3.- Local Strategy 2.3.1- Proactively support small Y Partner Collaboration business start-up efforts through funding Work collaboratively with partners and programs made available by the State of Minnesota's Department of Employment, ) i� to foster the attraction of Initiative Foundation and Economic new businesses. Development (DEED) and Wright County Economic Development Partnership. • • • • Policy 2.4: Industrial and Business Strategy2.4.1- Identify funding sources for infrastructure and proactively engage `•r Site Analysis and Availability a variety of partners to help complete the )'' �■� development of a new business park. Identify, plan, and develop new Strategy2.4.2- Develop partnerships to assist industrial/business park areas to ensure site availability for with marketing and promotion of industrial/ industrial projects as existing business park areas. areas fully develop. Strategy2.4.3- Monitor industrial land absorption to help prioritize future site development and readiness. Strategy2.4.4- Investigate opportunities for grants, legislation, transition aid, or bonding funds to support industrial land area development. • Policy3.1: Downtown Small Area Plan Stmtegy3.1.1- Develop and support the appropriate policies, programs, and incentives �``4. A �■� • • that enable the type of development described Use and implement the Downtown in the Downtown Small Area Plan. Small Area Plan as the guiding _ • document to improve, develop and • redevelop Downtown. Strategy3.1.2- Install improvements to the downtown as envisioned in the Walnut Street ,< ((( Corridor Plan. JJJ Strategy3.1.3 - Continue to build a funding base for use in property acquisition and redevelopment efforts in targeted areas. Strategy3.1.4 - Continue to support the facade improvement program and promote to downtown business and property owners. MONTICELLO 2040 VISION + PLAN 225 IMPLEMENTATION CHART: ECONOMIC DEVELOPMENT SHORT- I LONG ONGOING I THEME TERM TERM r, Policy1l: Downtown Small Area Plan Strategy 3.1.5 - Continue to meet with downtown property owners either in an informal group setting or individually to understand Continue to follow and implement their concerns with traffic, parking, land use, building improvements and reinvestment in their O ((c !Jl the Downtown Small Area Plan. property as well as willingness to sell, partner, price, etc. Strategy 3.1.6- Encourage continued incorporation of arts as an economic development tool for Downtown Monticello ))) and the community at -large. Strategy3.1.7- Ensure trail and pedestrian/ cycle connections are considered within the downtown and from the downtown to other )) areas within the community. Strategy3.1.8- Maintain and update annually property availability maps for downtown property or property investment parcels. Polity 4.1: Redevelopment Strategy4.1.1- Continue to focus on site control for a potential future targeted redevelopment in Continue to support redevelopment • _ _ efforts as identified in the • _, Downtown Small Area Plan and in strategic opportunity areas • � � � _ � � � , throughout the Community. Block 52 as envisioned in the Downtown Small Area Study Plan. ))) Strotegy4.t2-Develop and implement marketing of city -owned properties identified for redevelopment, including Block 52, 34 and Cedar Street/Broadway site. O O Strategy4.1.3- Reconnect Walnut Street to River Street in support of redevelopment. Strategy4.1.4- Use the Block 52 redevelopment project as a catalyst and template for future redevelopment projects in the downtown area. Strategy 4.1.5- Remain open to strategic opportunities for redevelopment throughout the community in all land use categories . 226 IMPLEMENTATION EDA Agenda: 11/08/2023 413. Consideration of requesting the City Council extend deferral of payments of Public Improvement Special Assessments levied against the 14.16 -acre Riverwood Bank parcel, soon to be platted as Outlot A, Great River Second Addition, along 7th Street West Prepared by: Meeting Date: ❑x Regular Agenda Item Economic Development Manager 11/08/2023 ❑ Consent Agenda Item Reviewed by: Approved by: Community Economic Development Community Development Director Coordinator, Finance Director ACTION REQUESTED Motion to request the City Council extend deferral of payments of Public Improvement Special Assessments levied against the 14.16 -acre Riverwood Bank parcel, soon to be platted as Outlot A, Great River Second Addition, along 7th Street West, contingent on EDA ownership of the property. REFERENCE AND BACKGROUND The EDA is asked to formally request that City Council extend the payment deferral of the previously adopted public improvement special assessments levied against the 14.16 -acre vacant, underutilized Riverwood Bank parcel. The parcel will soon be platted as Outlot A, Great River Second Addition. The deferral would be accomplished through an amendment to the Great River Addition development contract, which specifies the assessment amounts and terms of assessment. Assessments would be requested to be deferred until development; at which time the assessment would be levied on a proportionate square footage of the land being developed. In addition, the request would be to continue the deferral without interest. If the EDA authorizes the purchase of this parcel from Riverwood Bank (item 4A on the Agenda), then it would be beneficial to defer special assessment payments until the land is sold for development and incorporate those charges into future sales transactions. The public improvements were for the road, sewer and water extensions, as well as stormwater improvements along the north edge of the parcel and were essential to facilitate development at the site. In addition to the assessments, it is recommended by staff that the Council amend the language capping trunk area charges. Since the time of the agreement, the rate structure for trunk area EDA Agenda: 11/08/2023 utilities has changed. Staff recommend the ability to charge trunk area utility rates under the current structure and at prevailing rates. This is in the interest of maintaining viable utility funds rates to recover past costs and plan for future infrastructure extensions. Per the City Attorney, the City Council has the authority to amend the existing development and assessment agreement governing the parcel and stipulate a payment schedule tied to future development objectives. The current special assessments levied against this property total $554,000 +/- and were levied against the parcel in 2013 with a full 10 year deferral. Budget Impact: The immediate cost attributed to the EDA connected to the proposed deferral of the special assessments levied against the vacant 14.16 -acre parcel is estimated to be about $450 +/- for the document review. The costs are attributed to the EDA and City attorney review of the current development and assessment agreement for the parcel. II. Staff Workload Impact: City staff workload related to the special assessment payment deferral request is modest. Staff involved in the work tasks include the Community Development Director, Finance Director, and Economic Development Manager. Consultants involved include the EDA and City attorney. III. Comprehensive Plan Impact: N/A AFF RECOMMENDATION City staff recommend the EDA request the City Council to extend the deferral of the payment of the special assessments levied against the 14.16 -acre vacant Riverwood Bank parcel, to be platted as Outlot A, Great River Second Addition. The deferral of the special assessments to the time of parcel development will enable the EDA to integrate the assessment charges into the sales transactions with developers. SUPPORTING DATA A. Development Contract (including Assessment Agreement) Great River Addition B. Final Plats Great River Addition C. Final Plat (to be recorded) Great River Second Addition U97 q_r9 ;t RETURN T0: \\ City of Monticello F>� DEC 18 2013±. 505 Walnut Street: Monticello, MN 5536«•� j Doc. No. A1253596 OFFICE OF THE COUNTY RECORDER WRIGHT COUNTY, MINNESOTA Certified Filed and/or Recorded on 1219!2013 at 12:00 PM Check #: Fee: $46.00 Payment Code 04 Addl. Fee Barb Gabretcik, County Recorder (reserved for recording information) ASSESSMENT AND DEVELOPMENT AGREEMENT RIVER WOOD BANK AGREEMENT dated Mao.13 2013, by and between the CITY OF MONTICELLO, a Minnesota municipal corporation ("City"), and RIVERWOOD BANK, a federal savings bank organized and existing under the laws of the United States of America ("RiverWood"). RECITALS A. RiverWood is the fee owner of real property located within the City, legally described in the attached Exhibit "A" ("RiverWood Property"); B. RiverWood desires to develop the RiverWood Property in the future. C. Development of the RiverWood Property will require extension of West 7th Street, ponding, public trail, street lighting, and utility improvements; D. The City also owns property through which West 7th Street will be extended, which property is legally described as provided in Exhibit `B" ("City Property"); E. The City and RiverWood desire to jointly plat the RiverWood Property and City Property and dedicate the necessary property for right of way, ponding, trails and utilities, required for future development of the RiverWood Property; 170046 1 F. The purpose of this Agreement is to set forth the Parties' terms for platting, construction, and assessment related to the extension of West 7th Street, together with associated utilities and appropriate land conveyances. NOW, THEREFORE, IN CONSIDERATION OF THEIR MUTUAL COVENANTS THE PARTIES AGREE AS FOLLOWS: 1. PUBLIC IMPROVEMENTS. A. West 7th Street Public Improvements. The City conducted a feasibility study for extending and constructing West 7th Street to serve the future development of the RiverWood Property, together with other property. The purpose of the road improvement project is to provide the extension of `gest 7th Street and to vacate a portion of Minnesota Street that extends through the RiverWood Property south of West 7th Street and to provide storm water ponding, public trail, utility and street lighting improvements (referred to herein as the "West 7th Street Public Improvements"). B. Elm Street Public Improvements. As part of the feasibility study for the West 7t' Street Public Improvements, the City also included the paving of Elm Street (referred to herein as the "Elm Street Public Improvements"). The purpose of the project is to maintain Elm Street as a rural road section. C. Elm Street Public Improvements and West 7th Street Public Improvements are collectively referred to herein as the Public Improvements. 2. CONDITIONS OF PUBLIC IMPROVEMENTS. Upon execution of this Agreement, the City will plat the RiverWood Property and the City Property, order the Public Improvements and will construct the road, public trail, ponding, street lighting, and utilities as specified on the approved plans. The City proposes to contract for substantial completion of the Public Improvements by November 2013. The City shall let the contract for the improvement of the West 7th Street extension from Minnesota Street to Elm Street upon recording of a final plat for the RiverWood Property and City Property that provides for 170046 2 dedication of West 7th Street and a drainage and utility easements over the RiverWood Property north of West 7t' Street. The City shall seek to have the extension completed and usable by July 15, 2014. 3. PLAT OF RIVERWOOD PROPERTY AND CITY PROPERTY. In order to facilitate the construction of the Public Improvements and to better distinguish between the public and private improvements serving the RiverWood Property and public lands, RiverWood Bank and the City shall jointly apply for and submit a preliminary and final plat for the RiverWood Property and City Property identifying the lots and public rights of way and dedications substantially consistent with the plans and specifications for the Public Improvements and the proposed plat of Great River Addition, attached hereto as Exhibit C. The Public Improvement plans shall not be attached to this Agreement. The City shall prepare the proposed plat and the plat application, application fees, and submittal documents shall be submitted prior to the City advertising for bids for the Public Improvements. The plat shall designate the RiverWood Bank Property, of approximately 4.07 acres, located north of the proposed West 7th Street Extension as an Outlot, identified as Outlot A in the plat, that shall be dedicated in the plat for drainage and utility purposes. In addition, the RiverWood Property lying south of West 7th Street shall be combined with a portion of the City Property to be conveyed to RiverWood under the terms of this Agreement as a single outlot for future development. That portion of the RiverWood Property lying east of the vacated Minnesota Street totaling 12 -feet in width along the vacated Minnesota Street, together with the vacated Minnesota Street, shall be dedicated in the plat for drainage and utility purposes. The cost of platting shall be split equally between RiverWood and the City at a price not to exceed $6,000.00. RiverWood Bank shall pay its share of this cost, in the amount of $3,000.00 at the time of execution of this Agreement and shall execute all documents necessary to record the plat with the County. 4. CONVEYANCE. In exchange for excess ponding that is dedicated by RiverWood Bank within Outlot A, the City will convey to RiverWood that portion of the City Property legally described in 170046 the attached Exhibit D by quit claim deed prior to and conditioned upon recording of the final plat ("City Remnant Parcel"). The City Remnant Parcel will be combined with the RiverWood Property lying south of the West 7th Street extension as a single outlot to be identified as Outlot B in the plat. 5. VACATION. Prior to recording the final plat, the City will vacate that portion of Minnesota Street lying south of the proposed West 7th Street extension, conditioned upon dedication of a drainage and utility easement over the vacated right of way within the plat or retention thereof within the vacation resolution. At the time of development of the RiverWood property, the developer shall enter into an encroachment agreement for parking purposes over the vacated Minnesota Street. No permanent structures will be allowed on the vacated right of way pursuant to City Ordinance Title 10, Monticello Zoning Ordinance, Chapter 3, Section 3(A). 6. DEVELOPMENT FEES. Stormwater ponding requirements for the future development of Outlot B are provided by Outlot A, up to 64,557 square feet. Excess ponding area of approximately one acre is available to the City within Outlot A for development of property outside of the RiverWood development. With the dedication of ponding area within Outlot A, future development of the RiverWood Property will not be subject to the City's alternate ponding fee, which is currently set at $6,997.00/acre. RiverWood shall pay City trunk fees for development of Outlot B, Great River Addition, at the rate in effect at the time of development, subject to the following cap on trunk fees: Storm Sewer Trunk Fee = $3,570.00 per acre Watermain = $2,494.00 per acre Sanitary Sewer Trunk Fee = $3,371.00 per acre 7. GRADING. RiverWood Bank is responsible for any necessary grading for future development of the RiverWood Property lying south of the West 7th Street extension. The City will be responsible for grading only what is needed for the Public Improvements, balance dirtwork and provide 170046 positive drainage to the roadway. Any excess material resulting from grading operations will be accepted by RiverWood and stockpiled for future use by RiverWood on the RiverWood Property located on the south side of West 7' Street, at an agreed upon location prior to grading operations commencing. Thereafter, RiverWood will be responsible for erosion control and maintenance of the stockpile on the RiverWood Property after the road is constructed and restoration is established, after the contractor warranty period expires for the Public Improvements. 8. TRAIL. Simultaneous with the recording of the plat, RiverWood Bank will provide a 10 foot wide trail easement for the trail to be located on Outlot A, substantially in the form attached as Exhibit E. 9. ASSESSMENTS. A. West 7th Street Assessments. The RiverWood Property, excluding Outlot A of the proposed plat, is hereby assessed by the City for the costs of the Public Improvements together with administrative, planning, engineering, legal and financing costs, in the amount not to exceed $850,430.00 ("West 7th Street Assessment'). The assessment will be based on the actual project costs. B. Elm Street Assessments. The RiverWood Property, excluding Outlot A of the proposed plat, is hereby assessed by the City for the costs of the Elm Street Public Improvements together with administrative, planning, engineering, legal and financing costs, in the amount of $22,000.00, based on the frontage of the parcel abutting Elm Street (`Elm Street Assessment"). If Elm Street is upgraded and widened in the future to an urban section with curb and gutter and storm sewer, then the RiverWood Property would be subject to an additional assessment at that time. C. Deferral. This West 7th Street Assessment and Elm Street Assessment (collectively referred to herein as the "Assessments") shall be deferred without principal and interest until development of the property or 10 years from the date of this Agreement, whichever occurs first. The Assessments shall be deemed adopted on the date this Agreement is signed by the City. "Development" shall mean: platted 170046 5 into lots and blocks, not outlots. If the RiverWood Property is subdivided or platted, the assessments will be apportioned to individual lots, not outlots, based on the pro rata portion of the area (square foot) of the lots to the total area of the RiverWood Property to be subdivided. If only a portion of the RiverWood Property is developed, the assessments on the undeveloped portion shall continue to be deferred pursuant to the terms of this Agreement. Upon development or expiration of the 10 year deferral hereunder, the area assessment shall be applied to the RiverWood Property, excluding Outlot A, over a 10 year period in equal annual installments, together with Prime Rate of interest plus two percent (2%) per year on the unpaid balance. Prime Rate shall be the prime rate announced daily in the Wall Street Journal ("Prime Rate"). If the Wall Street Journal ceases to publish the Prime Rate, then the Prime Rate shall be the rate of interest quoted in the Federal Reserve Statistical Release, Selected Interest Rates (H.R. 15). If a range is shown for the Prime Rate, then the highest number in the range shall be utilized. D. Waiver. RiverWood, by signing this Agreement, acknowledges that all procedural and substantive objections to the Assessment are hereby waived unconditionally, such waiver includes any rights of RiverWood, its successor or assign to hearing requirements and any claim that the assessments exceed the benefit to the Subject Property. RiverWood further waives any appeal rights otherwise available pursuant to M.S.A. § 429.081. 10. LICENSE. RiverWood hereby grants the City, its agents, employees, officers and contractors a license to enter the RiverWood Property to perform all work and inspections deemed appropriate by the City in conjunction with construction of the Public Improvements in accordance with the plans and specifications and the terms of this Agreement. 11. RIVERWOOD RESPONSIBILIES. A. RiverWood shall hold the City and its officers, employees, and agents harmless from claims made by it and third parties for damages sustained or costs incurred resulting from plat approval and development. RiverWood shall indemnify the City and its officers, employees, and agents for all costs, 170046 6 damages, or expenses which the City may pay or incur in consequence of such claims, including attorneys' fees. B. In addition to the charges and special assessments referred to herein, other charges and special assessments may be imposed such as but not limited to sewer availability charges ("SAC"), City water availability charges ("WAC"), City water connection charges, City sewer connection charges, and building permit fees. C. Except as otherwise specifically assigned to the City by Agreement of the Parties, RiverWood shall be responsible for all maintenance of property within Outlot A, Great River Addition, including, but not limited to, maintenance of the slope within Outlot A. 12. MISCELLANEOUS. A. Third parties shall have no recourse against the City under this Agreement. B. If any portion, section, subsection, sentence, clause, paragraph, or phrase of this Agreement is for any reason held invalid, such decision shall not affect the validity of the remaining portion of this Agreement. C. The action or inaction of the City shall not constitute a waiver or amendment to the provisions of this Agreement. To be binding, amendments or waivers shall be in writing, signed by the parties and approved by written resolution of the City Council. The City's failure to promptly take legal action to enforce this Agreement shall not be a waiver or release. D. This Agreement shall run with the land and may be recorded against the title to the property. RiverWood covenants with the City, its successors and assigns, that RiverWood is well seized in fee title of the property being final platted and/or has obtained consents to this Contract, in the form attached hereto, from all parties who have an interest in the property; that there are no unrecorded interests in the 170046 7 property being final platted; and that RiverWood will indemnify and hold the City harmless for any breach of the foregoing covenants. E. Each right, power or remedy herein conferred upon the City is cumulative and in addition to every other right, power or remedy, express or implied, now or hereafter arising, available to City, at law or in equity, or under any other agreement, and each and every right, power and remedy herein set forth or otherwise so existing may be exercised from time to time as often and in such order as may be deemed expedient by the City and shall not be a waiver of the right to exercise at any time thereafter any other right, power or remedy. 13. NO'T'ICES. Required notices to RiverWood shall be in writing, and shall be either hand delivered to RiverWood, its employees or agents, or mailed to RiverWood by certified mail at the following address: RiverWood Bank 1421 7t' Street East Monticello, MN 55362 Notices to the City shall be in writing and shall be either hand delivered to the City Administrator, or mailed to the City by certified mail in care of the City Administrator at the following address: 505 Walnut Street, Monticello, Minnesota 55362. 170046 8 CITY OF MONTICELLO BY: Mayor AND v ' City Administrator STATE OF MINNESOTA ) ( ss. COUNTY OF WRIGHT ) Th f regoing ins %Ot was acknowledged before me this /711—day _ of May, 2013, by T by ^ the Mayor and City Administrator of the City of Monticello, a Minnesota municipal corporation, on behalf of the corporation and pursuant to the authority granted by its City Council. &07 / - ��. NOTARY PUB C KERRY T. BURRI NOTARY PUBUG •MINNESOTA My Cmalssion Wres Jan. 31, 2015 170046 9 RIVERWOOyD BAND STATE OF MINNESOTA ) ) ss. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this �� day of , 2013, by � the Q of RiverWood Bank, a federal savings bank organized and existing tQer the laws of the United States of America, on its behalf. /,n NOTARY PUBCIC// OVICKI JAN LEERHOFF Notary Pub"innamm My Convnlee[or, 6gMrs,Iri $1. Me DRAFTED BY: CAMPBELL, KNUTSON Professional Association 317 Eagandale Office Center 1380 Corporate Center Curve Eagan, Minnesota 55121 Telephone: (651) 452-5000 170046 10 EXHIBIT "A" Legal Description of RiverWood Property Parcel A: Lot 1, Block 1, Kirkman Addition, Wright County, Minnesota Parcel B: Lot A of the Northeast Quarter of the Southeast Quarter of Section 10, Township 121, Range 25, according to a plat filed March 14, 1886 in Book 1 of Plats, page 566 and that part of Lot C of the North Half of the Southeast Quarter of said Section 10, Township 121, Range 25 according to a plat recorded October 23, 1913 as Document No. 74600 lying Northerly and Northeasterly of a line described as follows: Commencing at the Northeast corner of said Northeast Quarter of the Southeast Quarter; thence South along the East line of said Northeast Quarter of the Southeast Quarter, a distance of 526.92 feet to the point of beginning of said line to be described; thence West deflecting 89 degrees 52 minutes 18 seconds right, a distance of 137.25 feet; thence Northwesterly along a tangential curve concave to the North having a radius of 600.00 feet and a central angle of 43 degrees 16 minutes 32 seconds, a distance of 453.18 feet; thence Northwest tangent to said curve, a distance of 357.48 feet to the Northwest line of said Lot C of the North Half of the Southeast Quarter and said line there terminating, Wright County, Minnesota. Parcel C: That part of Lot C of the North Half of the Southeast Quarter of Section 10, Township 121, Range 25, according to a plat recorded October 23, 1913, Document No. 74600 lying Northeasterly of the Northeasterly right of way line of Interstate 94 and lying Southerly and Southwesterly of a line described as follows: Commencing at the Northeast corner of the Northeast Quarter of the Southeast Quarter of said Section 10; thence South along the East line of said Northeast Quarter of the Southeast Quarter, a distance of 526.92 feet to the point of beginning of said line to be described; thence West deflecting 89 degrees 52 minutes 18 seconds right, a distance of 137.25 feet; thence Northwesterly along a tangential curve concave to the North having a radius of 600.00 feet and a central angle of 43 degrees 16 minutes 32 seconds, a distance of 453.18 feet; thence Northwest tangent to said curve, a distance of 357.48 feet to the Northwest line of said Lot C of the North Half of the Southeast Quarter and said line there terminating, Wright County, Minnesota. Parcel D: Also that part of Lot A of the Northwest Quarter of the Southwest Quarter of Section 11, Township 121, Range 25 according to the plat of record, filed October 23, 1913, File No. 74602, lying Northeasterly of the Northeasterly right of way line of Interstate 94 and lying South of a line described as follows: Commencing at the Northwest corner of said Northwest Quarter of the Southwest Quarter; thence South along the West line of said Northwest Quarter of the Southwest Quarter, a distance of 526.92 feet to the point of beginning of said line to be described; thence East deflecting 90 degrees 07 minutes 42 seconds left a distance of 441.39 feet to the East line of said Lot A of the Northwest Quarter of the Southwest Quarter and said line there terminating. Except that part of said Lot A of the Northwest Quarter of the Southwest Quarter described as follows: Commencing at the Northwest corner of said Northwest Quarter of the Southwest Quarter; thence East along the North line of said Northwest Quarter of the Southeast Quarter, a distance of 407.67 feet to the center line of Minnesota Street being the East line of said Lot A of the Northwest Quarter of the Southwest Quarter, thence deflecting 87 degrees 34 minutes 45 seconds right along said center line, a distance of 361.82 feet to the point of beginning; thence west deflecting 90 degrees right, a distance of 373.37 feet; thence South deflecting 90 degrees left, a distance of 350.00; thence East deflecting 90 degrees left, a distance of 373.37 feet to said center line of Minnesota Street, thence North along said center line a distance of 350 feet to the point of beginning, Wright County, Minnesota. 170046 11 EXHIBIT "B" Legal Description of City Property That part of Lot A of the Northwest Quarter of the Southwest Quarter, Section 11, Township 121, Range 25, Wright County, Minnesota, according to the recorded plat thereof, described as follows: Commencing at the Northwest corner of said Lot A; thence East, along the North line of said Lot A, a distance of 407.67 feet to the center line of Marvin Road; thence South, along said center line, deflecting right 87 degrees, 34 minutes 45 seconds a distance of 361.82 feet to the point of beginning; thence West, deflecting right 90 degrees, a distance of 373.37 feet; thence South deflecting left 90 degrees a distance of 350 feet; thence East deflecting left 90 degrees a distance of 373.37 feet to the center line of said Marvin Road; thence north, along said center line, a distance of 350 feet to the point of beginning. Subject to the right of way of said Marvin Road. Except that part thereof described as follows: Commencing at the Northwest corner of said Lot A; thence East along the North line of said Lot A, a distance of 407.67 feet to the center line of said Marvin Road; thence South deflecting 87 degrees 34 minutes 45 seconds right along said center line, a distance of 361.82 feet to the point of beginning of the exception to be described; thence West, deflecting right 90 degrees a distance of 373.37 feet; thence South deflecting left 90 degrees a distance of 108 feet; thence East deflecting left 90 degrees a distance of 3 73.3 7 feet to the center line of said Marvin Road; thence North, along said center line, a distance of 108 feet to the point of beginning. 170046 12 EXHIBIT "C" Proposed Plat of Great River Addition 170046 13 L] s � 5 C 5 o � _ g m 58i 1 U c oar 0 o ` s i�o p E P r m ✓ w�^o 2 0 � s c y = b e rc wl o K gi V E c � i$ F z S ffi QST{ Ut 9my m mi al 9��m g o u n y I fill $ c m rc 6 > ! s 1 , ; 191 �& `m �� g Y w� G� k "tom g A� E U 5 C 5 � _ g m 1 m 0 8 � s � P r m ✓ ° C � s rc wl o K gi E c � i$ F z S ffi QST{ �I r �� . I� � A.� � 'I fir= � • � � ® , Mro30,TWRitM.,Ni01�,, N.29.C[.004 YY'825 41\ cc LL I 9 o s WiI di \ i1q; Iggga,'� =�P 3� I I GE 9� Fi� €e RIP EXHIBIT "D" Legal description of City Property to be conveyed to RiverWood: That part of Lot A of the Northwest Quarter of the Southwest Quarter, Section 11, Township 121, Range 25, Wright County, Minnesota, according to the recorded plat thereof, described as follows: Commencing at the Northwest corner of said Lot A; thence East, along the North line of said Lot A, a distance of 407.67 feet to the center line of Marvin Road; thence South, along said center line, deflecting right 87 degrees, 34 minutes 45 seconds a distance of 361.82 feet to the point of beginning; thence West, deflecting right 90 degrees, a distance of 373.37 feet; thence South deflecting left 90 degrees a distance of 350 feet; thence East deflecting left 90 degrees a distance of 3 73.3 7 feet to the center line of said Marvin Road; thence north, along said center line, a distance of 350 feet to the point of beginning. Subject to the right of way of said Marvin Road. Except that part thereof described as follows: Commencing at the Northwest corner of said Lot A; thence East along the North line of said Lot A, a distance of 407.67 feet to the center line of said Marvin Road; thence South deflecting 87 degrees 34 minutes 45 seconds right along said center line, a distance of 361.82 feet to the point of beginning of the exception to be described; thence West, deflecting right 90 degrees a distance of 373.37 feet; thence South deflecting left 90 degrees a distance of 108 feet; thence East deflecting left 90 degrees a distance of 373.37 feet to the center line of said Marvin Road; thence North, along said center line, a distance of 108 feet to the point of beginning. WINCH LIES northerly of the following described line: Commencing at the Northwest Corner of said Northwest Quarter of the Southwest Quarter; thence South 00 degrees 13 minutes 42 seconds West, assumed bearing along the west line thereof, 547.32 feet to the point of beginning of the line to be hereinafter described; thence easterly along a non-tangential curve, concave to the north, 178.52 feet, having a radius of 496.00 feet, central angle of 20 degrees 37 minutes 20 seconds, chord bearing of South 80 degrees 46 minutes 30 seconds East and a chord distance of 177.56 feet; thence North 88 degrees 54 minutes 50 seconds East, 236.91 feet to the westerly right of way line of Minnesota Street; thence North 85 degrees 02 minutes 30 seconds East, 33.01 feet to the centerline of Minnesota Street and said line there terminating. 170046 14 EXHIBIT E GRANT OF PERMANENT EASEMENT RIVERWOOD BANK, a federal savings bank organized and existing under the laws of the United States of America, "Grantor," in consideration of One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, does hereby grant unto the CITY OF MONTICELLO, a Minnesota municipal corporation, the Grantee, hereinafter referred to as the "City," its successors and assigns, permanent easements for trail purposes over, on, across, under and through the land situated in the County of Wright, State of Minnesota, and legally described on the attached Exhibit "A." INCLUDING the rights of the City, its contractors, agents, servants, and assigns, to enter upon the permanent easement premises at all reasonable times to construct, reconstruct, inspect, repair, and maintain said public trail system over, across, on, under, and through the permanent easement premises, together with the right to grade, level, fill, drain, and excavate the permanent easement premises, and the further right to remove trees, bushes, undergrowth, and other obstructions interfering with the location, construction, and maintenance of said public trail easement. The above named Grantor, for itself, its successors and assigns, does covenant with the City, its successors and assigns, that they are well seized in fee title of the above described easement premises; that they have the sole right to grant and convey the easements to the City; that there are no unrecorded interests in the easement premises; and that they will indemnify and hold the City harmless for any breach of the foregoing covenants. 170046 15 IN TESTIMONY WHEREOF, Grantor hereto has signed this document this 31 d y of 0 , 2013. GRANTOR: STATE OF MINNESOTA ) ) ss. COUNTY OF WRIGHT ) The foregoing instrument was acknowledged before me this /d day of 2013, by k4ENtM %,-d the ;cnca` of RPverWood Bank, a federal savings bank organized and existing under the fa4vs of the United States of America, on its behalf. -t2 _� �;�" /edl • . : ti THIS INSTRUMENT WAS DRAFTED BY: CAMPBELL KNUTsoN Professional Association 317 Eagandale Office Center 1380 Corporate Center Curve Eagan, MN 55121 Telephone: 651-452-5000 170046 16 VICKI JAN LEERHOFF Notary Public -Minnesota my CM,bw, Expires J" 31,2018 EXHIBIT "A" TO GRANT OF PERMANENT EASEMENT That part of the Outlot A, Great River Addition, County of Wright, State of Minnesota, according to the recorded plat thereof described as follows: A permanent easement for trail purposes, over, under, and across that part of Outlot A, Great River Addition, as is on file and of record in the Office of the County Recorder in and for Wright County, Minnesota, which lies northerly of the northerly Right of Way line of 7th. Street as dedicated in said Great River Addition and southerly of the following described line: Commencing at the Northeast Corner of the North Half of the Southeast Quarter of Section 10, Township 121, Range 25; thence South 00 degrees 13 minutes 42 seconds West, assumed bearing along the east line thereof, 460.44 feet to the point of beginning of the line to be hereinafter described; thence northwesterly along a non-tangential curve, concave to the northeast, 43.611 feet, having a radius of 415.00 ""t, central angle of 06 degrees 01 minutes 13 seconds, chord bearing of North 63 degrees 29 minutes 04 seconds West and a chord distance of 43.59 feet; thence continue northwesterly along a compound curve, concave to the northeast, 28.13 feet, having a radius of 288.61 feet, central angle of 05 degrees 35 minutes 04 seconds, chord bearing of North 57 degrees 40 minutes 16 seconds West and a chord distance of 28.12 feet; thence continue northwesterly along a compound curve, concave to the northeast, 58.10 feet, having a radius of 401.41 feet, central angle of 08 degrees 17 minutes 33 seconds, chord bearing of North 51 degrees 12 minutes 38 seconds West and a chord distance of 58.05 feet; thence continue northwesterly along a compound curve, concave to the northeast, 15.95 feet, having a radius of 1715.36 feet, central angle of 00 degrees 31 minutes 58 seconds, chord bearing of North 47 degrees 35 minutes 44 seconds West and a chord distance of 15.95 feet; thence continue northwesterly along a reverse curve, concave to the southwest, 58.35 feet, having a radius of 397.92 feet, central angle of 08 degrees 24 minutes 05 seconds, chord bearing of North 49 degrees 32 minutes 19 seconds West and a chord distance of 58.29 feet; thence continue northwesterly along a reverse curve, concave to the northeast, 73.00 feet, having a radius of 894.33 feet, central angle of 04 degrees 40 minutes 36 seconds, chord bearing of North 51 degrees 30 minutes 04 seconds West and a chord distance of 72.98 feet; thence continue northwesterly along a reverse curve, concave to the southwest, 71.39 feet, having a radius of 122.67 feet, central angle of 33 degrees 20 minutes 48 seconds, chord bearing of North 65 degrees 50 minutes 10 seconds West and a chord distance of 70.39 feet; thence westerly along a reverse curve, concave to the north, 43.28 feet, having a radius of 325.98 feet, central angle of 07 degrees 36 minutes 27 seconds, chord bearing of North 78 degrees 42 minutes 21 seconds West and a chord distance of 43.25 feet; thence westerly along a reverse curve, concave to the south, 77.80 feet, having a radius of 292.25 feet, central angle of 15 degrees 15 minutes 08 seconds, chord bearing of North 82 degrees 31 minutes 41 seconds West and a chord distance of 77.57 feet; thence westerly along a reverse curve, concave to the north, 102.68 feet, having a radius of 342.59 feet, central angle of 17 degrees 10 minutes 24 seconds, chord bearing of North 81 degrees 34 minutes 04 seconds West and a chord distance of 102.30 feet; thence westerly along a reverse curve, concave to the south, 55.34 feet, having a radius of 232.52 feet, central angle of 13 degrees 38 minutes 15 seconds, chord bearing of North 79 degrees 47 minutes 59 seconds West and a chord distance of 55.21 feet; thence westerly along a reverse curve, concave to the north, 86.09 feet, having a radius of 147.78 feet, central angle of 33 degrees 22 minutes 34 seconds, chord bearing of North 69 degrees 55 minutes 50 seconds West and a chord distance of 84.88 feet; thence northwesterly along a reverse curve, concave to the southwest, 76.65 feet, having a radius of 1094.77 feet, central angle of 04 degrees 00 minutes 41 seconds, chord bearing of North 55 degrees 14 minutes 53 seconds West and a chord distance of 76.63 feet; thence 170046 17 continue northwesterly along a reverse curve, concave to the northeast, 43.29 feet, having a radius of 236.07 feet, central angle of 10 degrees 30 minutes 26 seconds, chord bearing of North 52 degrees 00 minutes 00 seconds West and a chord distance of 76.63 feet to the southwesterly line of said Outlot A and said line there terminating. 170046 18 4! GREAT RIVER ADDITION KNOW ALL PERSONS BY THESE PRESENTS: That RiverWood Bank, fka First Federal Savings Bank and the City of Monticello, a Minnesota municipal corporation under the laws of the State of Minnesota, fee owners of the following described property situated in the County of Wright, State of Minnesota to wit: RIVERWOOD BANK PARCELS Lot 1, Block 1, Kirkman Addition, Wright County, Minnesota AND n Lot A of the Northeast Quarter of the Southeast Quarter of Section 10, Township 121, Range 25, according to a plat filed March 14, 1886 in Book 1 of Plats, page 566 and that part of Lot C of the North Half of the Southeast Quarter of said Section 10, Township121, Range 25 accordingto a plat recorded October 23, 1913 as Document No. 74600 lying Northerlyand Northeasterly of a line described as follows: Commencing at the Northast comer of said Northeast g st Quarter of the Southeast Quarter; thence South along the East line of saiNortheast Quarter of the Southeast Quarter, a distance of 526.92 feet to the point of beginning of said line to be described; thence West deflecting 89 degrees 52 minutes 18 seconds right, a distance of 137.25 feet; thence Northwesterly along a tangential curve concave to the North having a radius of 600.00 feet and a central angle of 43 degrees 16 minutes 32 seconds, a distance of 453.18 feet; thence Northwest tangent to said curve, a distance of 357.48 feet to the Northwest line of said Lot C of the North Half of the Southeast Quarter and said line there terminating, Wright County, Minnesota. AND That part of Lot C of the North Half of the Southeast Quarter of Section 10, Township 121, Range 25,.according to a plat recorded October 23, 1913, Document No. 74600 lying Northeasterly of the Northeasterly right of way line of Interstate 94 and lying Southerly and Southwesterly of a line described as follows: Commencing at the Northeast comer of the Northeast Quarter of the Southeast Quarter of said Section 10; thence South along the East line of said Northeast Quarter of the Southeast Quarter, a distance of 526.92 feet to the point of beginning of said line to be described; thence West deflecting 89 degrees 52 minutes 18 seconds right, a distance of 137.25 feet; thence Northwesterly along a tangential curve concave to the North having a radius of 600.00 feet and a central angle of 43 degrees 16 minutes 32 seconds, a distance of 453.18 feet; thence Northwest tangent to said curve, a distance of 357.48 feet to the Northwest line of said Lot C of the North Half of the Southeast Quarter and said line there terminating, Wright County, Minnesota. AND Also that part of Lot A of the Northwest Quarter of the Southwest Quarter of Section 11, Township 121, Range 25 according to the plat of record, filed October 23, 1913, File No. 74602, lying Northeasterly of the Northeasterly right of way line of Interstate 94 and lying South of a line described as follows: Commencing at the Northwest comer of said Northwest Quarter of the Southwest Quarter; thence South along the West line of said Northwest Quarter of the Southwest Quarter, a distance of 526.92 feet to the point of beginning of said line to be described; thence East deflecting 90 degrees 07 minutes 42 seconds left a distance of 441.39 feet to the East line of said Lot A of the Northwest Quarter of the Southwest Quarter and said line there terminating. Except that part of said Lot A of the Northwest Quarter of the Southwest Quarter described as follows: Commencing at the Northwest comer of said Northwest Quarter of the Southwest Quarter, thence East along the North line of said Northwest Quarter of the Southwest Quarter, a distance of 407.67 feet to the center line of Minnesota Street being the East line of said Lot A of the Northwest Quarter of the Southwest Quarter, thence deflecting 87 degrees 34 minutes 45 seconds right along said center line, a distance of 361.82 feet to the point of beginning; thence West deflecting 90 degrees right, a distance of 373.37 feet; thence South deflecting 90 degrees left, a distance of 350.00; thence East deflecting 90 degrees left, a distance of 373.37 feet to said center line of Minnesota Street, thence North along said center line a distance of 350 feet to the point of beginning, Wright County, Minnesota 0T] That part of Lot A of the Northwest Quarter of the Southwest Quarter, Section 11, Township 121, Range 25, Wright County, Minnesota, according to the recorded plat thereof, described as follows: Commencing at the Northwest comer of said Lot A; thence East, along the North line of said Lot A, a distance of 407.67 feet to the center line of Marvin Road; thence South, along said center line, deflecting right 87 degrees, 34 minutes 45 seconds a distance of 361.82 feet to the point of beginning; thence West, deflecting right 90 degrees, a distance of 373.37 feet; thence South deflecting left 90 degrees a distance of 350 feet thence East deflecting left 90 degrees a distance of 373.37 feet to the center line of said Marvin Road; thence north, along said center line, a distance of 350 feet to the point of beginning. Subject to the right of way of said Marvin Road. Except that part thereof described as follows: Commencing at the Northwest comer of said Lot A; thence East along the North line of said Lot A, a distance of 407.67 feet to the center line of said Marvin Road; thence South deflecting 87 degrees 34 minutes 45 seconds right along said center line, a distance of 361.82 feet to the point of beginning of the exception to be described; thence West, deflecting right 90 degrees a distance of 373.37 feet thence South deflecting left 90 degrees a distance of 108 feet; thence East deflecting left 90 degrees a distance of 373.37 feet to the center line of said Marvin Road; thence North, along said center line, a distance of 108 feet to the point of beginning. WHICH LIES southerly of the following described line: Commencing at the Northwest Comer of said Northwest Quarter of the Southwest Quarter, thence South 00 degrees 12 minutes 57 seconds West, assumed bearing along the West line thereof, 548.14 feet to the point of beginning of the line to be hereinafter described; thence easterly along a non-tangential curve, concave to the north, 177.43 feet, having a radius of 496.00 feet, central angle of 20 degrees 29 minutes 46 seconds, chord bearing of South 80 degrees 50 minutes 17 seconds East and a chord distance of 176.49 feet thence North 88 degrees 54 minutes 50 seconds East, 235.25 feet to the westerly right of way line of Minnesota Street; thence North 84 degrees 59 minutes 04 seconds East, 33.03 feet to the center line of Minnesota Street and said line there terminating. CITY OF MONTICELLO PARCEL That part of Lot A of the Northwest Quarter of the Southwest Quarter, Section 11, Township 121, Range 25, Wright County, Minnesota, according to the recorded plat thereof, described as follows: Commencing at the Northwest comer of said Lot A; thence East, along the North line of said Lot A, a distance of 407.67 feet to the center line of Marvin Road; thence South, along said center line, deflecting' right 87 degrees, 34 minutes 45 seconds a distance of 361.82 feet to the point of beginning; thence West, deflecting right 90 degrees, a distance of 373.37 feet; thence South deflecting left 90 degrees a distance of 350 feet; thence East deflecting left 90 degrees a distance of 373.37 feet to the center line of said Marvin Road; thence north, along said center line, a distance of 350 feet to the point of beginning. Subject to the right of way of said Marvin Road. Except that part thereof described as follows: Commencing at the Northwest comer of said Lot A; thence East along the North line of said Lot A, a distance of 407.67 feet to the center line of said Marvin Road; thence South deflecting 87 degrees 34 minutes 45 seconds right along said center line, a distance of 361.82 feet to the point of beginning of the exception to be described; thence West, deflecting right 90 degrees a distance of 373.37 feet; thence South deflecting left 90 degrees a distance of 108 feet; thence East deflecting left 90 degrees a distance of 373.37 feet to the center line of said Marvin Road; thence North, along said center line, a distance of 108 feet to the point of beginning. WHICH LIES northerly of the following described line: Commencing at the Northwest Comer of said Northwest Quarter of the Southwest Quarter, thence South 00 degrees 12 minutes 57 seconds West, assumed bearing along the West line thereof, 548.14 feet to the point of beginning of the line to be hereinafter described; thence easterly along a non-tangential curve, concave to the north, 177.43 feet, having a radius of 496.00 feet, central angle of 20 degrees 29 minutes 46 seconds, chord bearing of South 80 degrees 50 minutes 17 seconds East and a chord distance of 176.49 feet thence North 88 degrees 54 minutes 50 seconds East, 235.25 feet to the westerly right of way line of Minnesota Street; thence North 84 degrees 59 minutes 04 seconds East, 33.03 feet to the center line of Minnesota Street and said line there terminating. Have caused the same to be surveyed and platted as GREAT RIVER ADDITION, and do hereby dedicate to the public for public use the public ways and drainage and utility �e easements as created by this plat. In witness whereof said RiverWood Bank, fka First Federal Savings Bank, has caused these presents to be signed by its proper officer this L day of , 20 -La-. Keva orenson (Regional President) STATE OF MINNESOTA COUNTY OF The foregoing instrument was acknowledged before me this AL- day of DO [Illi &A .201.3, by Kevan Sorenson, Regional President of said RiverWood Bank, fka First Federal Savings Bank. Notary Public,1AM4C44n lrL County, Minnesota My Commission Expires -4 A --o V0 San LAA3dPP— Printed name DAArlemc AeAr- In witness whereof the City of Monticello, a Minnesota municipal corporation under the laws of the State of Minnesota, has caused these presents to be signed by its proper officers this "�Ih day of ']era vm 13vt , 20 1 '6. Clint Herbst (Mayor) Jeff e' (City Administrator) n STATE OF MINNESOTA y� COUNTY OF &%.:rJ& t r r n s a�D -t°o U- q�� A�lin}•}kX►.xi-, Mayer and oc{�' D Ntill, Ci•ly AoIh,11 i -r The foregoing instrument was acknowledged before me this -&hday of Y2096 'st &0 , 201,5, by the City of Monticello, a Minnesota municipal corporation under the laws of the State of Minnesota. ignature e/ Notary Publicshm&a.tt� County, Minnesota My Commission Expires r r Printed name I Kyle L. Klasen do hereby certify that this plat was prepared by me or under my direct supervision; that I am a duly Licensed Land Surveyor in the State of Minnesota; that this plat is a correct representation of the boundary survey; that all mathematical data and labels are correctly designated on this plat; that all monuments depicted on this plat have been, or will be correctly set within one year; that all water boundaries and wet lands, as defined in Minnesota Statutes, Section 505.01, Subd. 3, as of the date of this certificate are shown and labeled on this plat; and all public ways are shown and labeled on this plat. Dated this Z5 day of 41C MID?- , 20-!2— . Kyle L. Klasen, Licensed Land Surveyor Minnesota License No. 44606 STATE OF MINNESOTA COUNTY OF The foregoinZ.&D or's Certificate was acknowledged before me this 9 day of , 20J-5,- by Kyle L. Klasen, Land Surveyor, Minnesota License No. 44606 L.•LzAt% . Signatu Printed narhe Notary lic,� lU ffil " County, Minnesota �.J My Commission Expiift—MAj_ PLANNING COMMISSION This plat of GREAT RIVER ADDITION was approved and accepted in compliance with Minnesota Statutes Section 505.03 Subd 2, by the Planning Commission of the City of Monticello, Minnesota ata meeting held this 0!�-- day of Nee b9le , 20,#—S. jarae��i Bill Spa (Chairma ) CITY COUNCIL This plat of GREAT RIVER ADDITION was approved and accepted in compliance with Minnesota Statutes Section 505.03 Subd 2, by the City Council of the City of Monticello, Minnesota at a meeting held this '%Ya- day of '110&&srh 6A , 20 l3 . Clint -Herbst (Mayor) Jeff OTWJPft Administrator) WRIGHT COUNTY SURVEYOR I hereby certify that in accordance with Minnesota Statutes, Section 505.021, Subd. 11, this plat has been reviewed and approved this 2hdday of h3er_em �(, 20-U. "4 i J • �aYf.e._ . , Wright County SurveydY WRIGHT COUNTY AUDITOR Pursuant to Minnesota Statutes, Section 272.12, there are no delinquent taxes on the land hereinbefore desdtibed on this plat and transfer entered this 9" day of Q e Ltw�be r- Wright County Auditor By: Deputy WRIGHT COUNTY TREASURER Pursuant to Minnesota Statutes, Section 505.021, Subd. 9, taxes payable for the year 2013 on the land hereinbefore described have been paid this 3L day of �)e-eP-wtber• , 201L 1 Wright County Treasurer. By: Deputy WRIGHT COUNTY RECORDER I hereby certify that this instrument was filed in the office of the County Recorder for record on thisirr4 day 20-L-3, at 1;k DOt o'dodc P M. and was duly rgcorded in Cabinet No. 'I Sleeve a 094 , as Document No. 1253SOM 01J FILt: by P. CITY OF /�OA)TIC�l„d 0 WSB Associamr, Inc. 1 ENGINEERING 9 PLANNING r CONSTRUCTION 451op0 TAJVohr✓I< SHEET 1 OF 2 SHEETS ■ ooplurtG PA.0#T GREAT RIVER ADDITION / 0 �� NORTHEAST CORNER NORTHEAST 1/4 SOUTHEAST I/4 SECTION 5 -- ------------------------------------------ 43. ---------_ _ TOWNSHIP 121, RANGE 25 --1 - 7 43.05 / 1 � 1 NORTHWEST CORNER NORTHWEST 1/4 I\ SO�STIM RANGEON 11 --� i i A�jphh ' I \\ \\ 11 ; 1 i 2 i I 3 i 4 i I 5 ., 6 T a , o�p�1` i I NORTH UNE OF THE NORTH I2 SOUTHEAST I/4 \\ 1\ L---L---I `---J,y-) `---L---I----L---1' ,� / SECTION 10, TOWNSHIP 121, RANGE 25 1 y; •• -ELM STREET % \\ 11 NORTHWEST NORTHLINEOFLOTA-7 F_ CORNEROFLOTA 407.67 (RECORD) / ' 100 I I " S88050'00"E / 681.38 \1 407. 54 I f- � ---- I 3a 1 i I 30 FOOT UT7LITYE4SEMENT DOC. #561692 --1------ 638.33 \ R -- 30 FOOT UTILITY EASEMENT DOC. #561892 -- 54.34 ---- --1�--------------------�--/ i \\ \---NNOO nONNEOFTHE NORTHWEST E2 �! N45°09'18„E --------------------------------------------------� RAN t-----------------=------------- 1--- --------------------------------------- y(�� \ _`i'➢ ,<--- =R=1037.34 LOT A--------------------------------------�f--- I I 33 33 '�#p `L�\i�=04°48'02" II,N06°43'02"E L=86.91 ------------------ `---- \ I( 12 FOOTDRA/NAGE AND U17LITY ------I37.69 --- ' OUTLOT A A(EASEMENT DOC.#,567618�-----------------------------------------------------------=--------- ,�---12FOOTDR41NAGE AND UTILITY , ,EASEMENT DOC. #587618 @ i I WEST LINE OF THE NORTHWEST 1/4 I , 0 1 i RA/NAGEANO UTILITYEASEMENT I Q �c OVERALL OF OUTLOT A) I OF THE SOUTHWEST 1/4 SECTION 11 / N46016'20"W i ; T WNSH/P121,RANGE25 14.40 \♦ `♦ •7•:•( (: • s ..:. : .: : •. t•• ':'I I::' ':: i'1't t� • a.: ;•: a I---- PO --- In W ♦ L \ _: DOC #795345 - CENTERLINE MINNESOTA STREET , M VICINITY MAP �` ..:_.:: :.:; ::::::= .'i.::i:•::• `•°':. ». .:z. # 9 N CENTERLINEMARVINROAD I I in NOINITYMT TO LE 3� \` ` ♦ QR•g16 i I o EASTLINEOFLOTAOFTHENORTHWEST--4- �� C4N 9 I 0 1/4 OF THE SOUTHWEST 1/4 ' rn m ,�O --'� \ \�%%y ``` (`2g 1327„ LOT C I 0 1 I <C "I N v LOT B ,� 53.14 \` S `♦ i 1 i i� Mo N85009'10"W �� \` ��% ♦ ` N87°11'47"W 4R'9g I I--EASTLINENORTHEAST 114OFTHE SOUTHEAST 114 , VI p`v i \♦ `� ♦ 30.00 (� 900 •00 ' I o SECTION 10, TOWNSHIP 121, RANGE 25 C.` C 6 7„ ------------------- u ��•� I`t9. `♦ `♦ `1.3g 67o t^� :a'i• :::.. ... ... .. •.. ... .:: �:.. i sC I 05,33 W m 2 # R I ( I �a 353 sD°D \ S�EFT N WU O " 6 i i - r.. .. F i i I ( ' 0 \ 8R .5733„ ¢p F .: _. S E e:S:. _: '?: ,I+ O�1 \ C.c3 S -'V66 6609 \.\♦ ♦\ _---_ ld•'l9/6 I co �a I I 28.44 ` ?K I NO2°33' 36"W o \ 3 6.3 30.00�ti C `J 90 •0 0� i �h \ O"/y �N87 11'47"W .` QC 1 s N -iz - 373.37 (RECORD) - o (,.e93920 I �o Z------------376_69-------------------�9��0 0 -- NORTHWEST LINE OF LOT C OF THE ` In , ----- I o9 0 NORTH 12 OF THE SOUTHEAST 1/4 \.\ ` ` QR q l0 0 I q2. SS6 i , L9 oPO� I c o� m / // / CEN //NE MINNESOTA STREET 289 12 S0. > j , I 1 �O I 0 / �/ CENTERUNE MARVIN ROAD •12 0 SO,, e 01 \!F /� /I /---EASTLINEOFLOTAOFTHE 28 h6 �� /` 0'01 33 00 I / j NORTHWEST I/4 OF THE SOUTHWEST I/4 ' AoQ LOT C ` 3,23 7005 ¢� Iml OUTLOT C -- I �. / I ° j K �� I o l \\ T Vii---------------------------- SOUTH UNE OF PARCEL - N89 55'19"W O / 4 DOC. #A 1224384 - - - -------- -- 137.25 '1 I / 9 0 „ 1373.34 / I h...... -01' • _ _ _ -------------------- - „ 1 9 -_ _ _ ------ -- DOC. 34 40 E I -----------�--- f1�� I 111E 1 ti L Ii_v --------\ v 4-L�-- 340.33 28.03-6 33 W 33 i DOR7HLI224386 RCELC --� (_'130 .p0-�'\-`-`- / 1 --� v I I -- R 416. 233.65 588°54'50-W _-- - m Y / DOC.#A1224388 C, 8,9 832 �-�---- 1 21.25�\� ' 1 \\ 4_14°59,17" M ��. �i 0 108.8---- 441.39 (RECORD) o M C.,Iv. H6 / --;-- �- - - M p - 7TH STREET t` -507 31 q8 80l) e.;..:•<•.:,. - /i / - c�202S0 9o9 r67.34 _ o - a C (?60 t'26 77H STREET 1001, 59 03 "'v N 0NBc 0=17.69J5. 42.84 33 a L=9 . = ---- -�:_� Q€_ - ------ S89 44 23"W (PLAT)-- r.. %.'•'c / 22„ / 1 496.00 ° I / v \ 26- - - _2_67_._81_ _( P_ LAT ) I 4 54 5 / \i\ o 3 .25 N88 \ -�- r IND UTILITY EAE / j o L=2jo 346" Via I `33.04 / I AND UTILITY EASEMENT---/ / 1 7?q 33.03 �f 3 33 I \� EXISTlNG12'DRA/NAGE- \ ^'` r: r.• DOC, #567618 89°52'18" vro C'BRG.=5800 N84°59'04"E - I AND UTIUTYEASEMENT I DEFLECTION - Wo 77 50.17„ �__= iz. _ .-. (RECORD) 100 u 6.49 E I NO2°33'36"W 1 •:ri•ii ••: •. I o Ww to \ 1 51.22 _ I r I ESTERLYRIG T FWAYLINE ' :: , sr.n-•:•-:::: .;•..•`•.•.», mo OF STREET (PLAT) :._. .: ..... .:. ..»...._._.... .<: •. -- : / 1 to (,76 SI '•; .f I ( •' 51.26 (PLAT) 928., OUTLOT 8 m l r l i :luts::4 NO3°04'19"W (P _ m 1 � �P♦c- �o m � I � I I, J IOC i 1 IZ? `9, : i t : In 1 1 O --------� Nl 1 :p n• `eD4 SS 36„ \ \----=-----------370.71 ---- WO + { 0 373.37 (RECORD) x2 _ I e t[1 I W a iF 0 COO Jacm Lu ~� Z I' j WN Zo WN 0 I w LOT 1 LOT 2 loI E)OSTINGWDRAINAGE tM AND UT/LITYEASEMENT-- -Co o I tM0 1192. 1 82.98 a i to 1 I EXISTING 12'DRA/NAGE YNJ ANDUTIL/TYEASEMENT DRA/NAGEAND UIIUTYEASEMENTS ARE SHOASTHUS : 'i3 r I i N7 023 I 3 341 ' Ij I I5 161,1 I - - / • - - EASEMENT I --12 / \� - j -M DRA/NAGEAND U77UUTyF 12-, I I \ NORTHEASTERLY RIGHT OF WAY UNE INTERSTATE 94--- �- \ -��--�- r `-40.29 I -_ 87) 96 fP�A7j(P(AT) ----__-- r � BEING 12 FEET /N WID7HAND AD/OINING LOTUNES N79e UNLESS INDICATED OTHERWISE ON THE PLAT \ _ - \ I 45 9 27„w �-34.48 - - - ,� 153-94 _ 53N80091 19"N (PLAT 0 01 r, ■ NR/GHT COUN7YMONUMENT THE NORTH LINE OF THE NORTH 1/2 SOUTHEAST �,`- I 9 (PLAT) ) 1/4 SECTION 10, TOWNSHIP 121, RANGE 25 FDUNDMONuMENT IS ASSUMED -TO BEAR S 88050'00"E O ImWPIPEkWWPLAS77C -__-- ___-- DRAINAGE AND UTILITY EASEMENT 1 CAPSTAMPED(4MM --- -- EXISTING ROAD RIGHT OF WAY I -� (RECOfiD)-/a3'AI M, NO A1224 INDOLE NO. A12243(WI, NO. A1224981, NO. Af22198f� N0.527'Srf 1 INCH = 80 FEET - - - - - - - - - - - - - - - - - - - - - - - - EXISTING EASEMENT I \ - (PL47) -FIBERS TO Dv®VSIONSIN DOC . NO. A1224M 0 40 80 180 240 320 400 PLS LINES 1 ; SOUTHWEST CORNER ` WSB ------------------------ PARCEL LINE 1 NORTHWEST 1/4 SOUTHWEST 1/4 _ -SECTION 11, TOWNSHIP 121, RANGE 25 ` - _ ` \ \ L do Amociagm, Inc. - ' INFRASTRUCTURE ENGINEERING i PLANNING CONSTRUCTION SHEET 2 OF 2 SHEETS GREAT RIVER SECOND ADDITION KNOW ALL PERSONS BY THESE PRESENTS: That Riverwood Bank, Federal Savings Bank under the laws of the United States, owner of the following described property situated in the County of Wright, State of Minnesota, to wit: Outlot B, GREAT RIVER ADDITION, Wright County, Minnesota Has caused the same to be surveyed and platted as GREAT RIVER SECOND ADDITION, and does hereby dedicate to the public for public use the drainage and utility easements as created by the plat. In witness whereof said Riverwood Bank, Federal Savings Bank under the laws of the Unites States, has caused these presents to be signed by its proper officer this day of Greg Schultz, Big Lake Branch President 13 CITY OF MONY/CELLO WRIGHT COUNTY, MN STATE of VVICINITY MAP COUNTY OF 0 100 Sec. 10 right Co11, pnty, MN ng. 25 LEGEND: This instrument was acknowledged before me this day of 20 by Greg Schultz, (SCALE IN FEET) Denotes found %'2 inch iron pipecapped LS 44606, unless its Big Lake Branch President, on behalf of Riverwood Bank, Federal Savings Bank under the laws of the Unites States. SCALE: I INCH = 100 FEET otherwise noted® Denotes Y2 inch by 14 inch iron Bearings are based on the plat of GREAT RIVER pipe with a plastic plug stamped ADDITION. For the purpose of this plat, the East R.L.S. 47466, unless otherwise Notary Public, County, Minnesota line of Outlot B is assumed to bear South 0 noted, to be set within one year Signature degrees 22 minutes 05 seconds West of platting date Q Denotes found cast iron monument xPK Denotes found PK nail My Commission Expires Drainage and Utility Easements are LS 16321 Denotes David Thorp, LS (Printed Name) shown thus: LS 13637 Denotes Paul Thorp, LS 1112LS 44606 Denotes Kyle Klasen, LS I, Craig A. Wensmann, do hereby certify that this plat was prepared by me or under my direct supervision; that I am a duly / _ /2+— _ — — — — — —1 _ LS 15233 Denotes Dennis Taylor, LS Licensed Land Surveyor in the State of Minnesota; that this plat is a correct representation of the boundary survey; that all / — — — — — Denotes easement mathematical data and labels are correctly designated on this plat; that all monuments depicted on this plat have been, or will be N 8 009'10 W / NOT TO SCALE Denotes existing adjoiners correctly set within one year; that all water boundaries and wet lands, as defined in Minnesota Statutes 505.01, Subd. 3, as of the date of this certificate are shown and labeled on this plat; and all public ways are shown and labeled on this plat. Being 12 feet in width and adjoining lot lot \/v lines unless otherwise indicated on the plat. Craig A. Wensmann, Land Surveyor Minnesota License No. 47466 STATE OF MINNESOTA �; �`� / / \ N 87011'47" W COUNTY OF �- �f 30.00 7110 The foregoing Surveyor's Certificate was acknowledged before me this day of �� 20 by Craig A. Wensmann Land Surveyor, Minnesota License Number 47466. k9 / Drainage and Utility Easement (Per GREA T RIVER ADDI TION) — _ ' / �� / 04 U, NOr he°S \ — =12040, / 94p'/ `\?89� X09?'`��T y County, Minnesota / °�% / \fie Signature Notary Public, \ �� / \� \ ter/ e °j` oU � \ 98 09 / Sgt 0 / \ / �e5 Lot 1 t B i .00 My Commission Expires I � � (Printed Name) F, �� 'Q�— — — CITY OF MONTICELLO PLANNING COMMISSION N 84°59'04" E \/ / Inch IP �2 , 110 / Be it known that at a meeting held on this day of \/ / / •4p 44606 33.03 I I IP Y 14 =11,0159 0 20 the Planning Commission of the Cit of Monticello, Minnesota, did hereby < oh i /2 foot wide Drainage 4,20 , �� CO o , „ 2 69� g y y / and Utility Easement ��/� X946 N 88 54 50 E Inch I L=97. / review and approve this plat of GREAT RIVER SECOND ADDITION �� i ca �c� T r< Doc. No. 5676/8 \ X4`3• R_496.00 — 235.25 Open S 89°53'44" E 300.82 R=507.31 Block 1 / �e5� Ir'�� L/ --------------- — — -- 2 1 I/ I r\, A ^ n I /P %2 I 1253,36„ Inch Open I \11 K, ;' ;'.'-II ; V' Chairperson Secretary \ i �t �� /nchl I /P %2 22 Open 12 / ph Open Inch p 1 i i en I ams„ 460 � �— Open CITY COUNCIL, CITY OF MONTICELLO, MINNESOTA r' This plat of GREAT RIVER SECOND ADDITION was approved and accepted by the City Council of the City of Monticello, Minnesota, at a regular meeting thereof held this day of 20 and said plat is in compliance with the provisions of Minnesota Statutes, Section 505.03, Subd. 2. Outlot /"'1 i _ Mayor City Clerk �55./8 L6 ' p • Q o WRIGHT COUNTY SURVEYOR o° 13 I hereby certify that in accordance with Minnesota Statutes, Section 505.021, Subd. 11, this plat has been reviewed and approved this,i day of 20 o Q I ti) `- '04,117. cn I � eSter/y /i e ° 23I � � I Z `u I �0 n f o opt/°t B Wright County Surveyor I I \ I Northe 23/6„ o I ��' Drainage and Utility Easement WRIGHT COUNTY HIGHWAY ENGINEER r °Star/ /9 o I r—i �j // (Per GREAT RIVER ADDI TION ' �_ �, W This plat was reviewed and recommended for approval this day of 20 wa298 133 33 & KIRKMAN ADDITION) I r Of , state t ter ate Wright County Engineer ¢029 IP Y2 Inch34 48 I lP ^ r, r, i —I— i i, e i WRIGHT COUNTY LAND RECORDS pen2, I I I I I I I I I I, Inch ' I L. L. I , I .. I Pursuant to Minnesota Statutes, Section 505.021, Subd. 9, taxes payable for the year 20 on the land hereinbefore described have been paid. Also, pursuant to X5394 Open Minnesota Statutes, Section 272.12, there are no delinquent taxes and transfer entered this day of 20 N 79°4527„ . W Wright County Land Records Administrator WRIGHT COUNTY RECORDER I hereby certify that this instrument was filed in the Office of the County Recorder for record on this day of 20 at o'clock .M. and was duly recorded in Cabinet No. Sleeve as Document No. Wright County Recorder BOGART, PEDERSON & ASSOC/AYES, INC. EDA Agenda: 11/08/2023 4C. Consideration Adopting Resolution No. 2023-13 Authorizing an Interfund Loan for advance of certain costs in connection with a Tax Increment Financing (TIF) District related to acquisition of the 14.16 -acre Riverwood Bank parcel along 7t" Street West Prepared by: Meeting Date: ❑x Regular Agenda Item Economic Development Manager 11/08/2023 ❑ Consent Agenda Item Reviewed by: Approved by: Community & Economic Development Community Development Director Coordinator ACTION REQUESTED Motion to adopt Resolution 2023-13 approving an Interfund Loan for advance of certain costs related to EDA acquisition of real property located along 7t" Street West in connection with a future Tax Increment Financing (TIF) District. REFERENCE AND BACKGROUND The EDA is asked to consider adopting Resolution 2023-13 approving an interfund loan related to the purchase of a vacant -underutilized parcel from Riverwood Bank along 7t" Street West. By adopting the interfund loan resolution, the EDA's immediate costs of acquiring the 14.16 - acre parcel and other related expenses connected to the purchase are considered a "loan or funding advance" and may be reimbursed through tax increments generated in a future Tax Increment Financing (TIF) District. The total amount of the proposed interfund loan as noted in the Resolution is $450,000. This would include the acquisition amount of $415,000 plus closing costs and any potential environmental studies or property maintenance costs that may be needed to secure the property for an interim time frame leading up to the establishment of a new TIF District. If the interfund loan resolution is not authorized at this time, the EDA may jeopardize its ability to be reimbursed for property acquisition and related expenses from the future tax increments. Budget Impact: The immediate cost attributed to the EDA connected to the proposed interfund loan resolution is estimated to be about $735 +/ which are related to EDA attorney services to draft the resolution. Long-term, the budget impact may be positive by equating the immediate $415,000 +/- cost as being allocated as a future TIF District expenditure rather than an EDA general fund cost item. II. Staff Workload Impact: City staff workload related to the interfund loan resolution is modest. Staff involved in the interfund loan discussions include the Community EDA Agenda: 11/08/2023 Development Director, Finance Director, and Economic Development Manager. Consultants involved include Northland Securities staff and the EDA attorney. III. Comprehensive Plan Impact: N/A STAFF RECOMMENDATION City staff recommend approval of Interfund Loan Resolution 2023-13. By approving the interfund loan resolution, the EDA preserves the potential to have its General Fund be reimbursed for land acquisition and related expenses incurred in connection with the purchase of the Riverwood Bank vacant land parcel through possible future tax increment collections in a new TIF District. The Riverwood Bank site along 7t" Street West is envisioned as a mix of commercial and/or residential and even light industrial uses. SUPPORTING DATA • EDA Resolution 2023-13 CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2023-13 AUTHORIZING AN INTERFUND LOAN FOR ADVANCE OF CERTAIN COSTS IN CONNECTION WITH A TAX INCREMENT FINANCING DISTRICT WHEREAS, the City of Monticello, Minnesota (the "City") and the City of Monticello Economic Development Authority (the "Authority") are considering establishing a tax increment financing district in the City (the "TIF District"), pursuant to Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the "TIF Act"); and WHEREAS, the City and the Authority may incur certain costs related to the TIF District which costs may be financed on a temporary basis from available City or Authority funds; and WHEREAS, pursuant to Section 469.178, subdivision 7 of the TIF Act, the City and the Authority are authorized to advance or loan money from any fund from which such advances may be legally made in order to finance expenditures that are eligible to be paid with tax increments under the TIF Act; and WHEREAS, in connection with the TIF District, the Authority intends to acquire certain property and existing structures thereon located on 71}i Street West in the City of Monticello, Minnesota, as legally described on the attached Exhibit A (the "Property"); and WHEREAS, the City and the Authority have determined to pay for certain costs of the TIF District, including administrative costs related to the TIF District, the cost of acquiring the Property, and certain demolition costs on the Property, which costs may be financed on a temporary basis from any City or Authority funds available for such purposes (the "Cost Advances"); and WHEREAS, the Authority hereby designates the Cost Advances as an interfund loan in accordance with the terms of this resolution and the TIF Act. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the City of Monticello Economic Development Authority as follows: 1. The Authority and the City will reimburse themselves for the Cost Advances including without limitation (i) administrative costs incurred prior to the establishment of the TIF District, subject to the limitations of the TIF Act, including but not limited to the preparation of a blight study, and (ii) certain costs incurred in connection with acquisition of the Property and any existing structures thereon, demolition and site preparation costs on the Property, all in an aggregate amount not to exceed the greater of $450,000 or the adopted and, if applicable, Tax Increment Financing Plan budget for the TIF District (the "Interfund Loan"), together with interest at the rate stated below. Interest accrues on the principal amount from the date of each advance. The maximum rate of interest permitted to be charged is limited to the greater of the rates specified under Minnesota Statutes, Section 270C.40 and Section 549.09 as of the date the loan or advance is authorized, unless the written agreement states that the maximum interest rate will fluctuate as the interest rates specified under Minnesota Statutes, Section 270C.40 or Section 549.09 are from time to time adjusted. The interest rate shall be 5.0% and will not fluctuate. 2. Principal and interest ("Payments") on the Interfund Loan shall be paid semiannually on each February 1 and August 1 (each a "Payment Date"), commencing on the first Payment Date on which MN325\50\912787.v1 the City or the Authority has received Available Tax Increment (defined below), or on any other dates determined by the City Finance Director, through the date of last receipt of tax increment from the TIF District (the "Maturity Date"). 3. Payments on the Interfund Loan will be made solely from the tax increment from the TIF District received by the Authority or the City from Wright County in the 6 -month period before any Payment Date, net of the amount paid under any agreement with a private developer or otherwise pledged to the payment of any obligation (the "Available Tax Increment'). Payments shall be applied first to accrued interest, and then to unpaid principal, unless otherwise specified by the City Finance Director. Interest accruing from the Loan Date will be compounded semiannually on February 1 and August 1 of each year and added to principal, unless otherwise specified by the City Finance Director. Payments on this Interfund Loan may be subordinated to any outstanding or future bonds, notes, or contracts secured in whole or in part with available tax increment and are on a parity with any other outstanding or future interfund loans secured in whole or in part with available tax increment. 4. The principal sum and all accrued interest payable under this resolution is pre -payable in whole or in part at any time by the Authority without premium or penalty. 5. This resolution is evidence of an internal borrowing by the Authority or the City in accordance with Section 469.178, subdivision 7 of the TIF Act, and is a limited obligation payable solely from Available Tax Increment pledged to the payment hereof under this resolution. The Interfund Loan shall not be deemed to constitute a general obligation of the State of Minnesota or any political subdivision thereof, including, without limitation, the Authority or the City. Neither the State of Minnesota, nor any political subdivision thereof shall be obligated to pay the principal of or interest on the Interfund Loan or other costs incident hereto except out of Available Tax Increment and neither the full faith and credit nor the taxing power of the State of Minnesota or any political subdivision thereof is pledged to the payment of the principal of or interest on this Interfund Loan or other costs incident hereto. Neither the Authority nor the City shall have any obligation to pay any principal amount of the Interfund Loan or accrued interest thereon, which may remain unpaid after the termination or expiration of the TIF District. 6. The Authority or the City, as applicable, may at any time decide to forgive the outstanding principal amount and accrued interest on the Interfund Loan, in whole or in part, on any date from time to time, to the extent permissible under law. 7. The Authority may from time to time amend the terms of this Resolution to the extent permitted by law, including without limitation amendment to the payment schedule and the interest rate; provided that the interest rate may not be increased above the maximum specified in Section 469.178. subd. 7 of the TIF Act. Adopted by the Board of Commissioners of the City of Monticello Economic Development Authority this 8t' day of November, 2023. President ATTEST: Executive Director 2 MN325\50\912787.v1 EXHIBIT A Legal Description of the PropertX Outlot B, Great River Addition, according to the recorded plat thereof, County of Wright, State of Minnesota. PID Number 155226000020 Outlot A, Great River Addition, according to the recorded plat thereof, County of Wright, State of Minnesota. PID Number 155226000010 A-1 MN325\50\912787.v1 Economic Development Authority Agenda: 11/08/2023 5A. Economic Development Manager's Report Prepared by: Meeting Date: p Other Business Economic Development Manager 11/08/2023 Reviewed by: Approved by: N/A N/A REFERENCE AND BACKGROUND 1. An email regarding the pricing option for 2023-2024 winter season snowplowing for the parking lot behind Beef O' Bradys is attached, Exhibit A. The EDA is involved in the parking lot management -maintenance association through its ownership of the vacant 218-222 West Broadway parcel, Exhibit B. The quote price is a small increase over the actual cost for last winter season's record-breaking snowfall. Staff continue to communicate with Bullseye Property Management to learn what the EDA's portion of the snowplow costs will be in the upcoming season. More information will be presented to the EDA as it becomes available. 2. Fa4ade Improvement Forgivable Loan Discussion — Several inquiries have been received from business—property owners seeking funding for fa4ade improvements. The opportunity for further discussion and/or review is projected to be at the December 13, 2023, EDA meeting. 3. WSB Economic Development Assistance — Yd Quarter Update Report — Please see attached update from Jim Gromberg, WSB & Associates, Exhibit C. 4. Projects Update: See attached Projects Update Exhibit D. 5. Prospect List Update: See attached Exhibit E. Vicki Leerhoff From: AP Sent: Thursday, October 26, 2023 2:29 PM To: Jim Thares Subject: FW: Estimate 1024 from Up North Irrigation Concepts Jim — I am not sure who needs to get this or if they do. From: Amber <amber@bullseye411.com> Sent: Thursday, October 26, 2023 2:16 PM To: Gold Path Real Estate <info@goldpathrealestate.com>; Ikrause@farmersagent.com; 763alc@gmail.com; AP <AP@ci.monticello.mn.us>; Jessica Teske <teskehomes@gmail.com>; mglkllc@gmail.com Subject: FW: Estimate 1024 from Up North Irrigation Concepts Good Afternoon, It's that time of year again. The dreaded 4 letter word: snow. As we all know, this area doesn't provide the best lay -out for snow plows to get in and out of. I have been attempting to find other vendors who'd be interested in taking on this job, and they have politely declined. Up North Irrigation is willing to continue to service the lot for the 2023-2024 season. Last year we paid a total of $7,268.75 for snow service. He able to offer the snow season at $7,500. Not that much of an increase. This time it would be at a flat monthly rate (salt extra) and not per time. I do need an approval to move forward with by Monday the 30th. I am concerned we are running into some snow with the freezing temps ahead and no current contract. If we went to a 1" trigger that amount would increase to about $10,000 for the snow season. Would save on salt application, as when the trucks are coming out more often it reduces the need. Thank you, From: Up North Irrigation Concepts<guickbooks@notification.intuit.com> Sent: Wednesday, October 25, 2023 12:22 AM To: Amber <amber@bullseye411.com>; Kaley <Kaley@bullseye411.com> Subject: Estimate 1024 from Up North Irrigation Concepts Dear Bullseye Property Management & Realty, Please review the estimate below. This property you requested a change from a 2" trigger to a 1" trigger for the 2023/2024 season. Feel free to contact us if you have any questions. We look forward to working with you! Have a great day, Up North Irrigation Concepts --------------------------------- Estimate --------------------------------- 18150 Ironton Street Northwest Elk River, MN 55330 US 763-291-3988 Estimate #: 1024 Date: 10/24/2023 Exp. Date: $10,625.00 ---------------------------------------------------------------------------- Address: Bullseye Property Management & Realty 35 Lake St S Suite 500 Big Lake, MN 55309 Work site: Broadway Parking Easement Date Description 10/24/2023 Snow Lot R1" Trigger -Snow plowing of lot, and shoveling of business sidewalks interior perimeter and entrance of small apartment building **Divided into 5 months @ $2,125 monthly payments** 10/24/2023 Salt AppliPrice per salt application $350 -Salting of parking lot, business sidewalks interior perimeter and entrance of small apartment building 10/24/2023 Lot Clean Requested lot clean up is billed at $190 701 Rate Amount 10,625.00T hourly with a 2 hour minimum. SubTotal: $10,625.00 Tax: $0.00 -------------------------------------- Total: $10,625.00 This bid is for Broadway Parking Easement in Monticello MN. **NOTE**: This is a change from 2" trigger last year to a 1" trigger for this year. Snow removal for the 2023/2024 winter season, from November 1st to March 31st. Snow removal is set for 1" trigger. Total for the season is $10,625 which is split into 5 monthly payments of $2,125 a month 3 EDA Owned Vacant Block 36 Lot -.1 Acres - Zoned Broadway Sub -District of CCD Created by: City of Monticello 95509n051020 t � .. 4r75 15509 00 060 59 4F 5 _ r , - 155090 d � App 15,507 UU36069y� �J 155U1OU36061 �4 15501'0036030 Wr !-, 155010036040 �r 59f 15501 035011 �,4 Vacant Block 36 Lot Zoning 1 in=64 Ft City Boundary Pine Street 0 Parcels Riverfront Broadway walnut & Cedar N General CCD A �irr of moiiiAo October 23, 2023 Map Powered By Datafi wsb Vacant Block 36 Lot Utility Location L___] City Boundary 0 Parcels # Water Hydrant Labels On Gate • Water Curb Stop Valves 1 Water Hydrants cirr or j�+1V Gate ll Water Fittings Enclosure Water Lateral Lines 1 in=50 Ft — 6" Sewer Pressurized Mains • Chambers — 8" Sewer Gravity Mains N Enclosure — 12" 0 Storm Manholes • Hubsite — Other ■ Catchbasin ® Node N Sewer Manhole Labels A Standard Inlet • Pedestal n Sewer Gravity Main Labels ♦ Standard Outlet • Fiber Slack Loops ,`\V • Sewer Manholes • Storm Fittings — Undergroundspan October 23, 2023 • Stub —10-- Storm Gravity Mains Fiber Cable Map Powered By Datafi ® Sewer Network Structures - - - - Drain Tile WS b" Wright County, MN Summary Parcel ID 155010036090 Property Address Sec/Twp/Rng 11-121-025 Brief Tax SECT-11TWP-121 RANGE-025ORIGINAL PLAT MONTICELLO LOT - Description 009 BLOCK -036 TH PRT OF LT 9 BLK36 LY NWLY OF LN DRWN Eff PAR/W&5.70FT NWLY FR COMMON LT LN BET LTS8&9 Seq Code (Note: Not to be used on legal documents) Class 958-5E MUNICIPAL -PUBLIC SERVICE -OTHER District (1101) CITY OF MONTICELLO-0882 School District 0882 1 DOWNTOWN (Note: Class refers to Assessor's Classification Used For Property Tax 11.000 Purposes) GIS Acres Parcel: 155010036090 Acres: 0.10 Acres USAB: 0.10 Acres WATE: 0.00 Acres ROW: 0.00 Sq Ft: 4,524.13 Owner PrimaryOwner CITY OF MONTICELLO EDA %EXECUTIVE DIRECTOR 505 WALNUT ST SUITE 1 MONTICELLO MN 55362 Land Sales Unit Eff Seq Code CER Dim 1 Dim 2 Dim 3 Units UT Price Adj i Adj 2 Adj 3 Rate Div % Value 1 DOWNTOWN 0 0 0 0 4,524.000 S 11.000 -11.00 0.00 0.00 9.792 1.000 44,300 2 BLACKTOP 1.50 SF 0 0 0 0 2,275.000 U 1.500 0.00 0.00 0.00 1.495 1.000 3,400 Total 4,524.000 Sale Sale Date Book Page Type Buyer Seller 47,700 Sales Adjusted Multi Instr Qualified Sale Sale Sale Sale S.S. Parcel Type Sale Sale Date Book Page Type Buyer Seller Price Price eCRV # eCRV Type Rcmd. N WD U 10/27/2017 V -Vacant CITY OF RED $34,400 $34,400 740643 V MONTICELLO ROOSTER ECONOMIC PROPERTIES, DEVELOPMENT INC. Y WD U 12/18/2013 1- RED ROOSTER FALCON $95,000 $95,000 123578 1 Improved PROPERTIES NAT'LBANK INC N WD U 3/14/2005 V -Vacant HAMOND MASTERS $20,103 $20,103 94357 V BRUCE FIFTHAVE INC N WD U 10/17/2002 V -Vacant MASTERS CITYOF $17,500 $17,500 80789 V FIFTH AVE INC MONTICELLO N CD U 10/17/2002 V -Vacant HAMOND MASTERS $20,103 $20,103 80790 V BRUCE FIFTH AVENUE INC ❑1 There are other parcels involved in one or more of the above sales: Transact S.S.Rjt.Rsn. Num 03 - GOVERNMENT 21-13ANK/HUD 123578 S 14-CFD/INTPA 94357 03- 80789 GOVERNMENT 03- 80790 GOVERNMENT Recent Sales In Area Sale date range: From: 10/23/2020 To 10/23/2023 Sales by Neighborhood Sales by Subdivision 1500 Feet Sales by Distance Transfer History Grantor Grantee Recorded Date Doc Type Doc No RED ROOSTER PROPERTIES INC CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY 11/1/2017 WAR 1357152 FALCON NATIONAL BANK RED ROOSTER PROPERTIES INC 12/20/2013 LWD 1254436 SHERIFF OFWRIGHT COUNTY, HAMOND BRUCE FALCON NATIONAL BANK 5/11/2012 SCF 1202572 MASTERS FIFTH AVENUE INC HAMOND BRUCE A; HAMOND CYNTHIA M 3/21/2005 WAR 951765 Note: Transfer History data is from LandLink beginning 01/01/2003. Valuation 2023 Assessment 2022 Assessment 2021 Assessment 2020 Assessment 2019 Assessment + Estimated Land Value $47,700 $35,500 $34,400 $34,400 $34,400 + Estimated Building Value $0 $0 $0 $0 $0 + Estimated Machinery Value $0 $0 $0 $0 $0 = Total Estimated Market Value $47,700 $35,500 $34,400 $34,400 $34,400 Taxation 2022 Payable 2021 Payable 2020 Payable 2019 Payable Estimated Market Value $34,400 $34,400 $34,400 $34,400 Excluded Value $0 $0 $0 $0 Homestead Exclusion $0 $0 $0 $0 = Taxable Market Value $0 $0 $0 $0 Net Taxes Due $0.00 $0.00 $0.00 $0.00 + Special Assessments $0.00 $0.00 $0.00 $0.00 = Total Taxes Due $0.00 $0.00 $0.00 $0.00 % Change 0.00% 0.00% 0.00% 0.00% Taxation (Preliminary 2023 Taxes Payable) 2023 Proposed 2022 Payable Estimated Market Value $35,500 $34,400 Excluded Value $0 $0 Homestead Exclusion $0 $0 = Taxable Market Value $0 $0 Net Taxes Due $0.00 $0.00 + Special Assessments $0.00 $0.00 = Total Taxes Due $0.00 $0.00 % Change 0.00% 0.00% Taxes and Special Assessments Payable in 2023 are preliminary. Taxes Paid Receipt# Receipt Print Date Bill Pay Year Amt Adj Amt Write Off Amt Charge Amt Payment 1447528 4/26/2018 2018 $0.00 $0.00 $0.00 ($602.00) 1426308 10/18/2017 2017 $0.00 $0.00 $0.00 ($387.00) 1391568 5/17/2017 2017 $0.00 $0.00 $0.00 ($387.00) 1338714 10/27/2016 2016 $0.00 $0.00 $0.00 ($529.00) 1293114 5/17/2016 2016 $0.00 $0.00 $0.00 ($529.00) Photos Map No data available for the following modules: Land GA/RP, Buildings, Extra Features, OBY, OBY (Working 2024 Assessment), Sketches. The information provided on this site is intended for reference purposes only. The information is not Contact Us Developed by suitable for legal, engineering, or surveying purposes. Wright County does not guarantee the accuracy J Schneider of the information contained herein. J GEOSPATiAL User Privacy PolicyGDPR Privacy Notice Last Data Upload: 10/23/2023.6:41:02 AM § 153.044 BUSINESS BASE ZONING DISTRICTS. (G) Central Community District, CCD. (1) (a) The purpose of the "CCD", Central Community District, is to provide for a wide variety of land uses, transportation options, and public activities in the downtown Monticello area, and particularly to implement the goals, objectives, and specific directives of the Comprehensive Plan, and in particular, the 2017 Downtown Monticello "Small Area Plan" Comprehensive Plan Amendment and its design and performance standards. (b) All proposed development or redevelopment in the CCD shall be subject to the requirements of the Comprehensive Plan and other standards identified in the Small Area Plan report. It is not the intent of this chapter to abrogate any general Zoning Ordinance requirements in the CCD, and all such requirements of the Monticello Zoning Ordinance apply fully within the CCD unless addressed separately by a more detailed CCD zoning regulation. (c) Projects that benefit from public investments and/or subsidies will have a greater burden to provide higher levels of both private and public amenities. (d) Sub -districts. The CCD is hereby divided into five subdistricts, four of which comprise the study area of the Small Area Plan. The CCD regulations shall apply uniformly across all sub -districts unless specific sub -district requirements apply. The City Council shall, in accordance with the process providing for zoning map amendments in the Monticello Zoning Ordinance, adopt a zoning map for the CCD area identifying the subdistrict boundaries. The subdistricts are known as: 1. Riverfront; 2. Broadway; 3. Walnut and Cedar Streets; 4. Pine Street; and 5. "General" shall be any area within the CCD that is not identified as being within one of the four named subdistricts. (e) Base lot area. No minimum. (f) Base lot width. No minimum. (2) Process requirements. (a) New development or redevelopment projects within the Central Community District shall require a site plan review by the Planning Commission. (b) At the proposer's option, or as required by this chapter, any proposed project may combine the required site plan review as a part of a concept plan review before a joint meeting of the Planning Commission and City Council. (c) Existing buildings shall be subject to the permitted and conditional use allowances of this chapter. (d) Projects which do not meet the requirements of this chapter may utilize the Planned Unit Development (PUD) process. (3) General requirements. (a) Character areas. The Central Community District shall be further regulated by four character sub -areas: Pine Street, Broadway, Walnut/Cedar and Riverfront and shown in the Official Zoning Map. (b) Projects across character area boundaries. By conditional use permit, uses and standards may extend across character area boundaries (but not into other zoning districts) a maximum distance of up to one-half block for project purposes, provided the majority of the project square footage lies within the permitted character -area, and the intent and character of the downtown plan is maintained. Where projects extend across character area boundaries, projects must show compatibility to both character area standards relating to adjoining districts and uses. (c) Private joint -parking use. All new non-residential parking areas shall be designed to accommodate cross -access and joint use throughout the CCD zoning district to minimize the need for parking infrastructure. (d) Accessory service/appurtenance uses. Building mechanical, waste -handling, and delivery service areas shall not face the public street or public spaces (with the exception of public parking lots), and shall be screened from view of adjoining property with materials equivalent to those of the principal building. (e) Buildings adjacent to single-family. Building side walls adjacent to single- family residentially zoned properties, or directly across a public street from such properties, shall have side wall heights of no greater than the horizontal distance to the nearest single-family structure. Buildings abutting single-family residentially zoned properties shall have roofs sloping toward the abutting single- family use, or shall employ at least one of the transitional features in § 153.066. (f) Building materials. Building materials for all uses shall be predominantly glass, brick, natural or cultured stone, or equivalent masonry material. 1. Materials for lapped siding, board -and -batten, or shake exteriors shall be composite, maintenance free materials, and shall be limited in overall exterior use to no more than 30% of building exterior for residential structures. 2. Commercial and other structures, no more than 15% of building exterior may be comprised of architectural metal, which shall be integrated into the building design. 3. Mixed use buildings shall comply with the commercial building requirements. (4) Performance standards. (a) Character area standards. 1. Broadway. a. All buildings should have a storefront or entrance on Broadway. b. Buildings shall be oriented toward the front of the lot, with a maximum ten - feet setback. Setbacks may be increased to accommodate outdoor seating or activity spaces approved by Planning Commission during site plan review. Such spaces shall be improved with enhanced paving and landscaping materials and other elements. c. Storefronts facing any public street shall consist of a minimum of 50% window/door transparency on ground floor. d. Buildings shall be between two to four stories, additional stories may be authorized by conditional use permit. Single -story buildings may be approved through site plan review by the Planning Commission and City Council where multiple stories are impractical for the specific use. In such cases, the building architecture should incorporate a fagade that mimics multiple stories through additional window openings or similar features. e. Buildings shall have a maximum width of 60 feet, or shall be articulated by setback, materials or window treatments roofline variation, or other design methods to reflect the appearance of separate buildings, in approximately 30 to 60 -foot increments. f. Ground floor commercial buildings which front on public streets or open space shall not be entirely comprised of office uses, but shall include other retail, hospitality or entertainment uses. g. Sidewalks and/or pathway connections shall be provided for all development projects. 2. Walnut/Cedar. a. Features such as upper balconies, dormers, courtyards, porches and dooryards shall be incorporated for residential uses. b. Buildings shall be between two to four stories; additional stories may be authorized by conditional use permit. Single -story buildings may be approved through site plan review by the Planning Commission and the City Council where multiple stories are impractical for the specific use. In such cases, the building architecture should incorporate a fagade that mimics multiple stories through additional window openings or similar features. c. Buildings shall be oriented toward Walnut and Cedar Street and toward front corners where applicable. 3. Pine Street. a. Buildings shall be between two to four stories; additional stories may be authorized by conditional use permit. Single -story buildings may be approved through site plan review by the Planning Commission and the City Council where multiple stories are impractical for the specific use. In such cases, the building architecture should incorporate a fagade that mimics multiple stories through additional window openings or similar features. b. Buildings shall be oriented to Pine Street with secondary entrances located on side or interior facades. Corner properties shall have dual orientation. 4. Riverfront. a. Features such as upper balconies, dormers, courtyards, porches and dooryards shall be incorporated for residential uses. b. Buildings shall be between two to four stories; additional stories may be authorized by conditional use permit. Single -story buildings may be approved through site plan review by the Planning Commission and the City Council where multiple stories are impractical for the specific use. In such cases, the building architecture should incorporate a fagade that mimics multiple stories through additional window openings or similar features. c. Buildings shall be oriented toward river and public right of way corners where applicable. (b) Use type standards. 1. Residential. a. Single/two-family: Where permitted, the requirements of the R-2 District will apply. b. Townhouse. (i) Permitted where the subject property has no direct frontage on Broadway or Walnut/Cedar. (ii) Must preserve open space to coordinate with public spaces. (iii) Building heights up to 25 feet or two stories above grade. (iv) Setbacks — 15 feet from abutting single-family, minimum of eight feet from public street. Interior side setbacks may be zero. (v) Variable roofline and front building walls. (vi) Classic row -house; living space to front; no garage -front design. (vii) All parking in attached garages. (viii) Parking ratio of two spaces per du, off-street. c. Multi four -12 du. (i) Only allowed where the subject property has no frontage on Broadway, Walnut/Cedar. Conditionally permitted where the property has direct frontage on Broadway or Walnut/Cedar. (ii) Must preserve open space to coordinate with public spaces. (iii) Building heights up to 35 feet or three stories above grade; additional stories authorized through conditional use permit. (iv) Setbacks — 15 feet from abutting single-family, minimum of eight feet from public street. Interior side setbacks may be zero. (v) Variable roofline and front building walls. (vi) Garage entrances may not face a public street. (vii) Garages which face a single-family residential zoning district must screen the garage entrance from the eye -level view of the abutting property. (viii) All parking in attached garages within building footprint (no surface parking). (ix) Parking ratio of 1.7 spaces per du, off-street, or a minimum of no less than one space per bedroom, off-street, whichever is greater. As part of site plan review, the Planning Commission may impose a different (higher or lower) standard where the nature of the use supports such standard. (x) Residential units on upper, non -ground floors of buildings in the Riverfront Character Area are permitted as a part of mixed-use buildings by conditional use permit. d. Multi 13+ du. (i) Only allowed where the subject property has no frontage on Broadway, Walnut/Cedar. Conditionally permitted where the property has direct frontage on Broadway or Walnut/Cedar. (ii) Must preserve open space to coordinate with public spaces. (iii) Building heights up to 50 feet or four stories above grade; additional stories authorized through conditional use permit. (iv) Setbacks — shall be — 15 feet from abutting single- family, minimum of eight feet from public street. Interior side setbacks may be zero. (v) Variable roofline and front building walls. (vi) Garage entrances may not face a public street. (vii) Garages which face a single-family residential zoning district must screen the garage entrance from the eye -level view of the abutting property. (viii) All required parking shall be located in attached garages within building footprint (no surface parking). (ix) Parking ratio of 1.1 spaces per dwelling unit bedroom including adjacent on -street parking, or a minimum of no less than one space per bedroom, off- street, whichever is greater. As part of site plan review, the Planning Commission may impose a different (higher or lower) standard where the nature of the use supports such standard. (x) Multiple -family housing limited to seniors may reduce parking supply to half spaces per dwelling unit, off-street. As part of site plan review, the Planning Commission may impose a different (higher or lower) standard where the nature of the type of senior living use supports such standard. (xi) Residential units on upper, non -ground floors of buildings in the Riverfront and Broadway Character Area are permitted as a part of mixed-use buildings. e. Ground floor residential units. When allowed, subject to: (i) Common areas, lobbies, etc. (if any) should be oriented toward street. (ii) Street levels should include additional window and doorway glass exposure toward streets. 2. Commercial and mixed-use, generally. a. Uses adjacent to single-family residential zoned properties which include dining/drinking service spaces shall have one outdoor areas facing public open space use areas. b. Building heights of up to 50 feet or four stories shall be permitted. c. Buildings heights exceeding 50 feet or four stories may be allowed by conditional use permit. d. Residential units in mixed-use commercial buildings shall include balcony spaces. e. Building setbacks shall be 15 feet from abutting single-family homes, minimum eight feet from public streets. Interior side setbacks may be zero. (c) Landscaping. 1. Site improvements in the CCD shall include landscaping consistent with the requirements of § 153.060 — Landscaping and Screening. 2. Pedestrian, plaza/patio, and bicycle spaces on the property shall integrate alternative pavement materials, designs, or features consistent with the surrounding streetscape. (d) Parking. 1. Off-street parking areas shall be developed and constructed according to the requirements of § 153.067. Parking supply shall be as identified in this chapter, or where not specified herein, as in § 153.067 — Off -Street Parking. 2. A commercial use which propose to vary from the requirements of this section by deferring its required off-street supply and contributing to the public parking fund shall be accompanied by a parking study, subject to review and approval by Community Development staff, which illustrates an adequate amount of available unused public parking within 400 feet of the establishment's primary entrance. "Adequate amount" shall be established by the city on a case-by-case basis in review of the applicant's individualized parking study, but shall include the following elements, as a minimum: (1) an examination of the public parking supply commonly available for use by the proposed business during its peak usage hours; (2) the likely demand placed on said supply by the proposed business based on contemporary resources for parking utilization; and (3) an estimate of competing demand on said supply. 3. An existing business, as of the date of this chapter, which has a parking supply which is substandard according to § 153.067 - Off -Street Parking, shall be considered a legal nonconformity. The business may expand or change to another business that increases the parking supply deficiency only by participating in the parking fund, according to the requirements of this Section and § 153.067(E)(4)(c) for such deficiency. 4. Parking shall not be located on a parcel between the front building line of the principal building and the public street, except where expressly provided for by the City Council after recommendation from the Planning Commission. (e) Other performance standards. 1. All other performance standards as identified in §§ 153.060 through 153.072 shall apply, unless otherwise addressed in this section. 2. Maximum residential density: 25.0 dwelling units per gross acre. 3. Maximum building height: 60 feet. a. Buildings may exceed 50 feet in height by conditional use permit, with enhanced site improvements, architecture, and building materials. 4. Lot coverage, buildings. a. Minimum building lot coverage: 20%. b. Maximum building lot coverage: 90%. 5. Accessory structures. a. For commercial uses, trash handling equipment shall be located within buildings wherever practical. If located in a structure attached to, or detached from, the principal building, such structure shall screen the trash handling equipment from the view of all neighboring property and public rights-of-way, and shall be constructed of materials which comprise the principal building. Gates and/or doors shall be constructed of permanent opaque materials, matching the principal building in color, and shall be kept closed at all times other than when being used for access. Roofs for such structures are encouraged, but not required when the screening wall of the enclosure is at least eight feet in height. b. For mixed-use and multi -family residential uses, trash handling equipment shall be located within the principal building. c. Any other accessory structures allowed in the CCD (see Table 5-4 — Accessory Uses by District) shall meet all requirements of the CCD district applicable to principal buildings. (Ord. 799, passed 2-27-2023) TABLE 5-1A: CENTRAL COMMUNITY DISTRICT (CCD) USES SUB -AREA Riverfront (A) Broadway (B) Walnut & Pine General Notes Cedar (C) (D) CCD Use Types Entertainment Retail, Retail, Office, Housing, and open supported by supported large supported space, entertainment; by space by limited supported by housing 2nd housing retail retail and retail and users, services services and retail service Additional use requirements applicable per § 153.091 Uses: Residential Uses Single- family P* CUP *Upper floors only Multi 3 du or P* CUP* P *Upper floors under only Townhouse CUP CUP* CUP P *Townhouses on Broadway east of Pine only Multi 4-12 du CUP CUP CUP CUP Multi 13+ du CUP CUP CUP CUP CUP Ground floor CUP* P P *Allowed on ground floor for townhouses on Broadway east of Pine Commercial Brew Pub P P P P <10,000 sq. ft. Brew Pub CUP P CUP P >10,000 sq. ft. Commercial CUP CUP P Day Care Commercial P CUP CUP P Lodging Uses: Commercial Entertainme CUP* CUP* CUP* CUP <10,000 sq. ft. nt/Recreation, only Indoor Commercial (including theaters) Entertainme nt/Recreation Outdoor Commercial Event centers CUP CUP CUP CUP CUP Subject to § 153.091(F)(14 Funeral CUP services Personal P P P P CUP services Places of CUP CUP CUP CUP CUP public assembly Production P P P P brewery/ taproom Micro- P P P P distillery/ cocktail room Professional CUP* P P P P Upper floors office - preferred services and retail Commercial CUP* - not P/CUP* on P/CUP* P Upper floors office allowed on ground on preferred ground floor floor ground floor Financial P P P P Drive thru by CUP Restaurants, P P P P CUP bars <10,000 sq. ft. Restaurants, CUP P CUP P CUP bars > 10,000 sq. ft. Retail Sales P P P P P <10,000 sq. ft. Retail Sales CUP CUP CUP P CUP >10,000 sq. ft. Retail with CUP P P P P service Specialty P P P P CUP Eating Establishments <10,000 sq. ft. Vehicle fuel CUP sales Veterinary CUP CUP CUP CUP No outdoor uses facilities < 10,000 sq. ft. loll Industrial Uses Industrial PUD OnlyPUD Only M PUD 0 M I Civic and Institutional Uses Clinics/ CUP CUP P P medical in MP services Public CUP P CUP CUP buildings or uses (incl. public parks) Schools Pre- CUP CUP CUP K-12 TABLE 5-1B THE POINTES AT CEDAR DISTRICT (PCD) See § 153.048 (Ord. 780, passed 7-25-2022; Ord. 791, passed 11-14-2022) 0 U U z LU m 0 00 M z C/i J 0 CL a W z z 2 0 0 Cl) W F- D U) z, W z W a Q z LU X 0 ws b Memorandum To: Jim Thares, Economic Development Manager From: Jim Gromberg, Economic Development Coordinator Date: October 31, 2023 Re: Project Updates Thank you for the opportunity to continue to assist the City of Monticello in their continued efforts to provide economic vitality for the community and the residents. Below are updates on some of the projects and insights into the trends currently facing the city. The city currently has several projects in progress for the continued growth of the commercial - industrial tax base. In addition to the tax base growth these projects will allow for the continued availability of employment opportunities in Monticello. The state has currently released the information for the Community Energy Transition Grant Program in the amount of $5 million dollars for communities that have or may have the closure of a coal or nuclear generating facility. Funding can be used for assisting workers displaced, increasing communities tax base, and developing economic development strategies to attract new businesses and employers. Project Updates: Project Poppy: The city received a Request for Information (RFI) for a beverage production facility that needs an 8 -12 -acre site. • Within 10 miles to a freeway • Within 1 hour of an international airport • 120,000 to 200,000 square foot facility • Anticipated 50 employees. • $80 million capital investment. • 1000 kW of electricity. • Access to city water and sewer capacity. • The city submitted the Featherstone and Goat Hill Sites. Project Margarita: No changes on the status of the project from DEED. • The city received an RFI from DEED for another project that requires 40 acres of land, preferably greenfield. • 50 MW of electricity • $200 Million CAPEX • Th City submitted the Featherstone site as a potential site for the project. • The state is currently waiting to see if any sites in Minnesota make it through the first round of review. Project Singularity: No changes DEED is awaiting a response from the Company. • German Manufacturing Company that is looking for 50 -acre site. • RFP was received from the state and was the second round of sites to be reviewed. Monticello EDA October 31, 2023 Page 2 • The criteria have changed to include any sites with a labor shed of 150,000 within a 45 - minute drive. • CAPEX is estimated to be $90 million with a workforce of 500 employees. Project Wafer: No changes DEED is awaiting a response from the Company. • Project Wafer is a manufacturing project RFI that was received by the city in October. • The proposed project site requires 100 acres with the expansion possibility of 20 additional acres. • Capex would be an estimated $630 million with the creation of 1,500 employees for phase 1. • One of the significant requirements for the project was a location within 20 minutes of an interstate or major highway. • The city submitted a potential site in the newly identified eastern industrial park. Shovel Ready Site Update: The RFP for the contract for the review of the of information "certification" has been posted by DEED and should be completed by the end of November with the contract being awarded by the end of the year. • All the information has been submitted to the state for their review and comments. • After the state has determined the contractor and completed the implementation of a contract, they will be arranging for a site visit which should be in 2024. • Upon the DEED's completion of the review of information , the city will be submitting the application fee for the certification. Outlook: • The Minnesota inflation rate has been trending down over the last few months with a current rate of 1.5% compared to 3.7% nationally. • The Federal Reserve at their last meeting did not increase fed rate but did indicate that they are considering an increase at the next meeting depending on the economic factors. • The Fed has indicated that they may consider a rate reduction in 2024. • Wright County's current average price per gallon is $3.323. • Gas prices are moderating and are currently averaging $3.368 per gallon in Minnesota and nationally averaging $3.478 nationally. • Some analysts are projecting prices to fall below $3/gallon by the end of the year; however, this may encounter headwinds from the current unrest in the middle east. • Minnesota's unemployment rate is currently at 3.1 % compared to the national rate of 3.8%. • Wright County's unemployment rate is 2.4% compared to Sherburne County's 2.5%. • Minnesota's labor participation rate is 68.5% compared to a national average of 62.8%. • GDP grew at 2.1 % for the second quarter of 2023 and a projected 4.9% for the third quarter. The projection for the 3rd quarter will be revised downward. • The 30 -year benchmark mortgage rate is around 8.0% compared to 7.49% in September. • Residential real estate market remains strong; however, the days on the market are decreasing from 34 days in September 2023 compared to 21 days in September 2022. Please let me know if you have any questions concerning the above projects or require additional information on the projects. In addition, let me know if you have additional projects that should be reviewed and included. IEDC Agenda: 11/03/23 3A. Proiect Update Block 52 Mixed Use Commercial -Residential Redevelopment: Interior finish work is occurring on all floors of the upper four floor (residential units). The pace of the project continues to move along with a potential for CO issuance on or about January 31, 2024. The developer informed City staff that a lease has been signed with an office user tenant that has intentions to locate 102 employees at this location. Discussions are also continuing with prospective restaurants and other commercial tenants. A total of 45 new FTE jobs will be required to be created by the new businesses that occupy the building. Deephaven Third - West Metro Ophthalmology: A temporary CO has been issued for the entirety of the 10,000 square foot commercial building at 1206 Cedar Street (southeast corner of Cedar and Chelsea Road). West Metro Ophthalmology has moved to the building, Suite 100. The build out of a second suite for North Risk Partners, an insurance firm, is just getting started. Headwaters Villa Twin homes: The 60 -unit twin home housing development project for ages 55 + on 7t" Street West is progressing with modular units being placed on the foundations. This work is expected to occur for the remainder of 2023 and into 2024. Headwaters Apartments: Construction of the 102 -unit apartment building for ages 55 + is expected to begin in the spring of 2024 and progress through the entirety of 2024 and into mid -2025. The building has ground level covered parking with four floors of rental units above the parking structure. Monticello Lakes — Savanna Vista Apartments: Construction of a two building, 200 -unit apartment development at a parcel on the west side of Edmunson Ave NE in the Pointes At Cedar (PAC) Master Plan Planned Community District is in rapidly moving along. This is a market rate housing development. The PAC water amenity features and proximity to restaurants and shopping are expected to be a strong leasing draw for this development. IEDC Agenda: 11/03/23 Wiha Tools Warehouse Facility Development: Construction of Wiha Tools' new 74,000 square foot assembly and warehouse facility development also continues. The projected completion date is late December 2023. The new 75,000 sq. ft. facility will house Wiha Tools' assembly, warehouse, distribution, sales, and administrative functions. Wiha received $880,000 in funding assistance from the MIF and JCF programs for equipment and building (MN -DEED) as well as City -EDA TIF assistance to offset land acquisition and site prep costs. Under the Business Subsidy component of the TIF Development Agreement, Wiha is required to create 59 FTE new jobs over the next 5 years. A second phase expansion of 79,000 sq. ft. is projected to occur in about 2028 or 2029. An additional 21 FTE jobs are expected to be created in Phase 2, increasing the total workforce to approximately 142 +/-. Other Development Activity: Briggs Properties, a multi -family residential developer, received development stage PUD approval (1St step with more to come) for a 150 -unit apartment building along 7th Street West. The developer stated that the currently low vacancy rates indicate that there is still more need for apartment units. The project is expected to be a phased development over a three-year period starting in late 2024. Additional industrial development proposals are also being concepted for sites in Monticello. This is very preliminary and may take up to 12 to 15 months before final decisions are made for these proposals. 2 Date of Contact /22/201 /29/20 128/201 /9/201' t16/203 (20/202 30-22 2/16/2021 3/19/2021 2/28/2022 6/16/2021 6/30/2021 7/29/2021 10/28/2021 2/7/2022 Company Name Business Category Project Description IL Karlsburger Foods Food Products Mfg. Facilty Expansion Project Blitzen Precision Machining Exist Bldg or New Const. Project Nutt Co -Working Space Existing Building Project FSJP Light Mfg -Res. Lab New Construction Project Jaguar Office New Construction Project Panda v3 Service -Child Care New Construction Project TDBBST Industrial New Construction Project Cold Industrial -Warehouse -Di New Construction stri Project Orion Warehouse-Distributi New Construction on Project Emma II Light Ind -Assembly New Construction Project UBAA Child Care Services New Construction or Exist Project Ecosphere Industrial Tech Mfg. New Construction Project BA710 Lt Assem-Distribute IProject Stallion Technology Service Project Shepherd Lt Assembly Distribution III 11/02/2023 0 9 $1,850,000 Concept Stage Building -Facility i Retained lobs New lobs Total Investment Project Status 80,000 sq. ft. 0 21 $12,000,000 20,000 sq. ft. +/- 42 10 to $4,500,000 On Hold Active Search 20,000 sq. ff. 20 4 $1,350,000 12,000 sq. ft. 5,000 sq. ft. 10 $1,200,000 Concept Stage ? ? ? ? Concept Stage 20,000 sq. ft. 0 20+/- $1,400,000 Active Search 22,000 sq. ft. 22 4 $2,700,000 Active Search 10,500 sq. ft. 0 21 $4,100,000 Active Search 10,000 to 15,000 sq. 0 9 $1,850,000 Concept Stage ft. 80,000 sq. ft. 0 21 $12,000,000 Concept Stage 832,500 sq. ft. 0 500 $125,000,000 Active Search 20,000 sq. ff. 0 4 $1,350,000 Active Search 5,000 sq. ft. 0 14 to 19 $2,000,000 Act Search 1,000,000 sq. ft. 0 1122 $85,000,000 Act Search New Construction 6,500 to 7,000 sq. ft 0 10 New Construction 42,000 sq. ft. 40 New Construction 75,000 sq. ft. 75 $650,000 Active Search $3,600,000 Active Search $10,500,000 Active Search PROSPECT LIST 11/02/2023 Date of Contact Company Name Business Category Project Description Building -Facility Retained lobs New lobs Total Investment Project Status 4/28/2022 Project Cougar Precision Machining -Mfg. New Construction 35,000 to 45,000 sq. ft. 38 $4,700,000 Active Search 8/11/2022 Project Sing Precision Machining New Construction 400,000 sq. ft. 0 500 $90,000,000 Active Search 10/28/2022 Project IAG Mfg. New Construction 300,000 sq. ft.? 0 50? $70 to $80,000,000 Active Search 11/9/2022 Project Tea Mfg New Construction 25,000 sq. ft. 55 20 $5,800,000 Active Search 12/13/2022 Project Love Mfg New Construction 250,000 130 $24,000,000 Active Search 4/20/2023 Project Lodge DH1 Lodging -Service New Construction ? ? ? $9,500,000 to $12,500,000 Active Search 4/20/2023 Project Lodge RS2 Lodging Service New Construction ? ? ? $9,500,000 to $12,500,000 Active Search 4/26/2023 Project Lodge DC3 Lodging Service New Construction ? ? ? $9,500,000 to $12,500,000 Active Search 5/30/2023 Project Flower -M &M Commercial Concept Expansion ? ? ? ? Concept 6/9/2023 Project Pez low_ New Construction 6,000 to 8,500 sq. ft. 12 2 $1.300,000 Active Search 7/1/2023 Project V Mfg New Construction 150,000+sq. ft. ? $16,000,000 Active Search 8/16/2023 Project Lodge RT4 Lodging-Hopsitality New Construction ? N/A ? $11,500,000 to $14,500,000 Active Search 8/31/2023 Project Enclave- W300 Industrial - Warehouse- Distr New Construction 300,000 sq. ft. N/A ? $30,000,000 to $34,000,000 Active Search PROSPECT LIST 11/02/2023 Date of Contact Company Name Business Category Project Description Building -Facility Retained lobs New lobs Total Investment Project Status 9/19/2023 Project Panda #4 SZ Childcare Facility New Construction ? N/A ? $2,000,000 +/- Active Search 10/12/2023 Project Fun Entertainment Expansion 2,400 sq. ft. N/A 4 $200,000 Concept Contacts: M =01 YTD= 24