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EDA Agenda - 03/13/2024AGENDA REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, March 13, 2024 — 6:00 p.m. Mississippi Room, Monticello Community Center JOINT ECONOMIC DEVELOPMENT AUTHORITY AND CITY COUNCIL SPECIAL MEETING 5:00 p.m. • Business Subsidy Pre -Application Review Commissioners: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, 011ie Koropchak-White, Rick Barger, Councilmember Tracy Hinz, Mayor Lloyd Hilgart Staff: Executive Director Jim Thares, Rachel Leonard, Angela Schumann, Hayden Stensgard, Sarah Rathlisberger 1. General Business A. Call to Order B. Roll Call 6:00 p.m. 2. Consideration of Additional Agenda Items 3. Consent Agenda A. Consideration of Payment of Bills B. Consideration of Approving Workshop Meeting Minutes—January 10, 2024 C. Consideration of Approving Regular Meeting Minutes —January 24, 2024 D. Consideration of Approving Workshop Meeting Minutes — February 14, 2024 E. Consideration of Approving Regular Meeting Minutes — February 14, 2024 F. Consideration of Resolution No. 2024-04 supporting Wright County Economic Development Partnership (WCEDP) in its Childcare Funding Grant Application 4. Public Hearing None 5. Regular Agenda A. Consideration of Business Subsidy Pre -Application Review — Silas Partners Proposal B. Consideration of Resolution No. 2024-05 Rescinding a Contract for Private Development (Washburn Computer Group Expansion) and Tax Increment Financing District No. 1-44 6. Other Business A. Consideration of Economic Development Manager's Report 7. Adjournment EDA Agenda: 3/13/2024 3A. Consideration of Approving Payment of Bills Prepared by: Meeting Date: ❑ Regular Agenda Item Community & Economic Development 3/13/2024 ® Consent Agenda Item Coordinator 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 February 2024. 2. Motion to approve payment of bills through February 2024 with changes as directed by the EDA. STAFF RECOMMENDATION: Staff recommend approval of Alternative 1. SUPPORTING DATA: A. Accounts Payable Summary Statements for February. Accounts Payable CITY OF Transactions by Account �monticeflo User: julie.cheney Printed: 02/07/2024 - 2:03PM Batch: 00202.02.2024 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-415100 BITCO INSURANCE COMPANIES Work Comp Audit Adjustment 12/31/2023 128120 50.00 Vendor Subtotal: 50.00 213-46301-430400 KENNEDY AND GRAVEN CHAR] General EDA- Dec 2023 12/31/2023 128139 225.50 213-46301-430400 KENNEDY AND GRAVEN CHAR] Acquisition 118 Broadway Ave E - De 12/31/2023 128139 2,599.50 213-46301-430400 KENNEDY AND GRAVEN CHAR] 216 Pine St Acquisition - Dec 2023 12/31/2023 128139 121.25 213-46301-430400 KENNEDY AND GRAVEN CHAR] 7th Street W Parcel Acquisition from 1 12/31/2023 128139 1,412.00 213-46301-430400 KENNEDY AND GRAVEN CHAR] General EDA- Dec 2023 12/31/2023 128139 909.50 Vendor Subtotal: 5,267.75 213-46301-431990 MSA PROFESSIONAL SERVICES MN Housing Study Update (10/15/23 12/31/2023 0 600.00 Vendor Subtotal: 600.00 213-46301-431993 WSB & ASSOCIATES INC 2023 Economic Development Service: 12/31/2023 0 1,423.00 Vendor Subtotal: 1,423.00 213-46301-433100 JAMES THARES Mileage Reimbursement (204 Miles) - 02/13/2024 0 130.68 Vendor Subtotal: 130.68 213-46301-435100 ECM PUBLISHERS INC PH EDA Bliss Salon Ad# 1371322 02/13/2024 0 166.50 213-46301-435100 ECM PUBLISHERS INC PH EDA Business Subsidy Ad# 1371: 02/13/2024 0 175.75 Vendor Subtotal: 342.25 AP -Transactions by Account (02/07/2024 - 2:03 PM) Page 1 Account Number 213-46301-443300 Vendor Description GL Date Check No DAVID BARTHOLOMAY 2024 Leadership Growth Group 02/13/2024 Vendor Subtotal: Subtotal for Fund: 213 Report Total: 128117 Amount PO No 600.00 600.00 8,413.68 8,413.68 AP -Transactions by Account (02/07/2024 - 2:03 PM) Page 2 Accounts Payable Transactions by Account User: julie.cheney Printed: 02/20/2024 - 4:02PM Batch: 00204.02.2024 Account Number Vendor Description Monticello GL Date Check No Amount PO No 213-46301-433100 US BANK CORPORATE PMT SYS EDAM - 2024 Winter Conference Reg 02/15/2024 0 350.00 Vendor Subtotal: 350.00 213-46301-438100 US BANK CORPORATE PMT SYS XCEL ENERGY - Electricity Services 02/15/2024 0 75.36 213-46301-438100 US BANK CORPORATE PMT SYS XCEL ENERGY - Electricity Services 02/15/2024 0 1.66 Vendor Subtotal: 77.02 213-46301-438200 CITY OF MONTICELLO 7256-015 - 216 Pine St - EDA 12/31/2023 0 49.85 213-46301-438200 CITY OF MONTICELLO 7256-004 - 130 Brdwy- Stonnwtr 12/31/2023 0 29.75 Vendor Subtotal: 79.60 213-46301-443300 US BANK CORPORATE PMT SYS EDAM - 2024 Membership Dues (JTA 02/15/2024 0 545.00 Vendor Subtotal: 545.00 213-46301-443990 US BANK CORPORATE PMT SYS DOMINOS PIZZA LLC - Food for EI 02/15/2024 0 46.60 Vendor Subtotal: 46.60 Subtotal for Fund: 213 1,098.22 Report Total: 1,098.22 AP -Transactions by Account (02/20/2024 - 4:02 PM) Page 1 Accounts Payable Transactions by Account User: julie.cheney Printed: 03/01/2024 - 11:34AM Batch: 00206.02.2024 Account Number Vendor Description Monticello GL Date Check No Amount PO No 213-46301-431991 DEMVI LLC Parking Lot Maintenance - Feb 2024 02/29/2024 0 213.86 Vendor Subtotal: 213.86 213-46301-438100 CENTERPOINT ENERGY 12045691-8 - 216 Pine St (EDA) 02/29/2024 0 234.48 Vendor Subtotal: 234.48 213-46301-438100 XCEL ENERGY 51-0014698960-5 -101 E 3rd St EDA 1 02/29/2024 0 58.17 Vendor Subtotal: 58.17 Subtotal for Fund: 213 506.51 Report Total: 506.51 The preceding list of bills totaling $10,018.41 was approved for payment. Date: 3/13/24 Approved by: Hali Sittig - Treasurer AP -Transactions by Account (03/01/2024 - 11:34 AM) Page 1 MINUTES WORKSHOP - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, January 10, 2024 — 4:45 p.m. Academy Room, Monticello Community Center Commissioners Present: President Steve Johnson, Vice President Jon Morphew, 011ie Koropchak-White, Rick Barger, Councilmember Tracy Hinz, Mayor Lloyd Hilgart Commissioners Absent: Treasurer Hali Sittig Staff Present: Executive Director Jim Thares, Angela Schumann, Hayden Stensgard 1. Call to Order President Steve Johnson called the workshop meeting of the Monticello EDA to order at 4:48 p.m. President Johnson called the roll. 2. Block 34 Discussion a. Block 34 Proaerty Uodate and Develoament b. Environmental Studies c. Long Term Vision d. Process Discussion Community Development Director Angela Schumann and EDA Executive Director Jim Thares provided an overview of the agenda item to the EDA and the public. Updates were given on the current ownership of the parcels on Block 34, and where the environmental studies were conducted in previous years on City and EDA -owned parcels on the block. Ryan Spencer, Director of Environmental Investigation and Remediation at WSB, presented in front of the EDA and the public. Mr. Spencer provided an overview of the environmental studies that were previously conducted on the block. Following the overview, Mr. Spencer provided the EDA with an understanding of what necessary studies were still outstanding on the block, as the EDA continues to prepare for redevelopment. The EDA readdressed their development priorities and goals for the block, stemming from their workshop discussion on November 8, 2023, focused on the long-term goals of the block's redevelopment. No action was taken on the agenda item. 3. Adjournment TRACY HINZ MOVED TO ADJOURN THE WORKSHOP MEETING OF THE MONTICELLO EDA. JON MORPHEW SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0, MEETING ADJOURNED AT 5:58 P.M. MINUTES (draft) REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, January 24, 2024 — 7:00 a.m. Bridge Room, Monticello Community Center Commissioners Present: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, 011ie Koropchak-White, Rick Barger, Councilmember Tracy Hinz Mayor Lloyd Hilgart joined the meeting at 7:04 a.m. Tracy Hinz exited the meeting at 7:44 a.m. Mayor Hilgart left at 7:46 a.m. Members Absent: Staff Present: 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 7:03 a.m. B. Roll Call 7:00 a.m. Mr. Johnson called the roll. 2. Consideration of Additional Agenda Items None 3. Public Hearing None 4. Regular Agenda A. Consideration of Review and Discussion of Integrated Marketing and Communications Plan (IMPC) Jim Thares, economic Development Manager introduced the item calling on Angela Schuman, Community Development Manager, to present a review of the Marketing and Communications (IMPC), asking for discussion and recommendation from the Authority. Ms. Schuman began the presentation by pointing out how reaching out to new residents, particularly the new multi -family units, ensuring they feel welcome and people who love their community tend to talk about their community is a great marketing tool. Staff has taken decisions from Council and EDA workshops to determine their development priorities. Members of the EDA have approached staff with marketing ideas. With those inputs in mind staff revisited the Integrated Marketing and Communications Plan completed in the spring of 2022. Excerpts from the 2040 Comp Plan shows the IMCP is on track with the 2040+ Vison Comp Plan. This tool was used to determine which strategies would maximize the relationship to the 2040 goals and correspond with those goals set by the EDA for 2024. Staff see two focus areas as a starting point in this effort. The Relationship Building and Deployment of Marketing and communication tools would be the responsibility for staff to carry out, while on the Consultant side, staff is asking for trade area market analysis to help determine who in commercial use Monticello is. The goal is to support efforts related to Employee Leadership and Recruitment. It will then be a resource to approach schools and businesses about what their recruitment needs are and facilitate efforts in developing specific supporting resources. The IMPC is suggesting further examination of the types of internships being offered in the schools and businesses. The STEM program presentation at the Manufacturers Appreciation Breakfast was well received. This year students will be encouraged to attend the Manufacturer's Breakfast event to help build those relationships. In addition, the AE2S strategy for marketing for Business Retention and Recruitment proposes using testimonials from businesses as the most effective tool for Monticello. Both the City and the consultants are currently updating the information on the website for the community related to commercial and industrial marketing outreach. It should be noted that the Planning Commission recently incorporated the IMPC and the Redevelopment, Reinvestment & Revitalization goals into their workplan aligning with the EDA goals and objectives. A future Round Table is an opportunity to bring together Builders, Developers, Residential, Commercial and Realtors for conversation. Staff believe that a focus on reaching out to both commercial and residential target properties, include EDA properties on West 7th Street, Block 34 and sites available along East Chelsea close to Fenning and 7t" Street is a worthwhile effort and may result in near term development. Staff recommends that the AE2S team be utilized to create materials derived from a potential Marketing and Trade area analysis to build better marketing and communication resources. The next proposed step is to ask AE2S to provide a proposal for materials that support this type of marketing strategy. President Johnson feels sharing mass information on the web does not reach the higher level of key decisions makers. As the mission of the EDA, he suggests marketing efforts and expenditures should concentrate on the commercial and industrial businesses and use a highly focused approach. Mr. Johnson commented that The Downtown trade area study in 2011 should be updated as the projections are outdated. Getting this type material into the hands of key decision makers may produce tangible results. MS Schumann addressed these comments; Staff is recommending getting our marketing materials updated and this can include information from a market analysis study. Authority member Hali Sittig shared how citizens reach out on local social media to share opinions on what retail they would like brought into Monticello. The reality is the current size of the City is not yet appealing to these businesses. Ms. Sittig asked if this marketing tool can be sent to chain retail businesses. Ms. Schumann responded saying developers and realtors can reach can use this material and reach out to their contacts who can then reach out to businesses. Mr. Johnson suggested there be a workshop before the February EDA and inviting Jim McCombs before giving staff direction further direction. Councilmember Hinz supports the workshop. Ms. Schuman shared staff's desire to focus on relationship building. Listening to residents and business is important component of this effort. Ms. Sittig and Ms. Hintz agree with Staff. The EDA consensus is to have Staff schedule a workshop with Mr. McCombs to consider learn about how a market analysis can be part of a focused marketing strategy. 5. Other Business A. Consideration of Economic Development Manager's Report Mr. Thares provided an overview of the Economic Development Manager's Report. 6. Adjournment HALI SITTIG MOVED TO ADJOURN. MOTION CARRIED UNANIMOUSLY. MEETING ADJOURNED AT 7:49 A.M. MINUTES ECONOMIC DEVELOPMENT AUTHORITY (EDA) SPECIAL MEETING Wednesday, February 14, 2024 — 5:00 p.m. Academy Room, Monticello Community Center Commissioners Present: President Steve Johnson, Vice President Jon Morphew, 011ie Koropchak-White, Rick Barger, Councilmember Tracy Hinz, Mayor Lloyd Hilgart Commissioners Absent: Treasurer Hali Sittig Staff Present: Executive Director Jim Thares, Angela Schumann, Hayden Stensgard 1. Call to Order President Steve Johnson called the special meeting of the Monticello EDA to order at 5:00 p.m. President Johnson called the roll. 2. Retail Market Analysis Discussion Executive Director Jim Thares provided an overview of the agenda item to the EDA and the public. Jim McComb, retail marketing professional, was in attendance to present to the EDA about utilizing a retail market analysis for their commercial development goals and efforts in the future. Community Development Director Angela Schumann asked how long the data is relevant once a retail market analysis is complete for a community. Mr. McComb clarified that the data remains relevant for roughly five years. Vice President Jim Morphew asked if a retail market analysis needs to be tailored specifically for the type of retail business the EDA would seek to attract. Mr. McComb clarified that the basic information included in the market analysis would remain for all types of retail interest. When working with a specific group that is considering Monticello as a place for their business, the analysis can be tailored specifically to their business concerns and needs for information. There does not need to be multiple analyses conducted to reach all areas of retail. Mayor Lloyd Hilgart noted that many businesses and site selectors have access to similar data that provides them with an understanding of demographics and existing store traffic in areas that they would consider building in. Mr. McComb noted that when cities conduct a retail market analysis for their community, they can provide a lot more detail than what the national databases can provide. Mr. McComb closed with a suggestion that if the EDA was interested in conducting a retail market analysis, they should begin by having a meeting to discuss their goals and challenges and develop a work plan to address each of those goals identified. No action was taken on the item. 3. Adjournment TRACY HINZ MOVED TO ADJOURN THE SPECIAL MEETING OF THE MONTICELLO EDA. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. MEETING ADJOURNED AT 5:59 P.M. MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, February 14, 2024 — 6:00 p.m. Mississippi Room, Monticello Community Center ECONOMIC DEVELOPMENT AUTHORITY SPECIAL MEETING 5:00 p.m. Retail Market Analysis Discussion with Jim McComb Commissioners Present: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, 011ie Koropchak-White, Rick Barger, Councilmember Tracy Hinz, Mayor Lloyd Hilgart Staff Present: Executive Director Jim Thares, Angela Schumann, Hayden Stensgard, Sarah Rathlisberger 1. General Business A. Call to Order President Steve Johnson called the regular meeting of the Monticello EDA to order at 6:05 p.m. B. Roll Call 6:00 p.m. Mr. Johnson called the roll. 2. Annual Business Meeting A. Consideration of electing EDA officers Executive Director Jim Thares provided an overview of the agenda item. The EDA is asked on an annual basis to elect a president, vice president, and treasurer. Historically, City staff has served as the EDA's secretary and would continue to do so. LLOYD HILGART MOVED TO ELECT STEVE JOHNSON AS PRESIDENT, JON MORPHEW AS VICE PRESIDENT, AND HALI SITTIG AS TREASURER FOR 2024. OLLIE KOROPCHAK- WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. B. Consideration of reviewing EDA Bylaws By consensus, no amendments to the EDA Bylaws were considered. C. Consideration of reviewing EDA Enabling Resolution By consensus, no amendments to the EDA Enabling Resolution were considered. D. Consideration of EDA Financial Statements and Fund Balance Information Finance Director Sarah Rathlisberger gave a presentation to the EDA regarding their 2023 financial statements and fund balance information. HALI SITTIG MOVED TO ACCEPT THE FINANCIAL REPORT FOR 2023. RICK BARGER SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. 3. Consideration of Additional Agenda Items None 4. Consent Agenda A. Consideration of Payment of Bills B. Consideration of Approving Regular Meeting Minutes —January 10, 2024 C. Consideration of Resolution No. 2024-01 convevine Outlot A. Great River Addition (4.81 acres) to the City of Monticello LLOYD HILGART MOVED TO APPROVE THE FEBRUARY 14, 2024 EDA REGULAR MEETING CONSENT AGENDA. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. 5. Public Hearin A. Consideration of Resolution 2024-02 authorizing a $300,000 GMEF Loan and Business Subsidy to Block 52 Holdings, LLC, Buchholz Exchange, LLC and Norgren Exchange, LLC for the Project Simi build out - 101 West Broadway Street Item 4A of the agenda was considered after item 4B. Mr. Thares provided an overview of the agenda item to the EDA and the public. The owners of 101 West Broadway Street submitted a Greater Monticello Enterprise Fund (GMEF) loan application in the amount of $300,000 for the build -out of a commercial tenant space. The total area that would be built out is roughly 13,000 square feet, and the applicants noted the improvements total about $150 per square foot. The program's policies set the interest rate for the loan at two percent below the prime rate. The applicants sought a GMEF loan at 3.5 percent. Staff's recommendation was for approval of the GMEF loan for $300,000 at 3.5 percent interest for a term of 10 years. Mr. Johnson opened the public hearing portion of the agenda item. Mr. Johnson closed the public hearing portion of the agenda item. 1[0[yC "CSLUD 012111111"D_\:i�.��Il��[l�L►��I►��L►�e��JIL'[�1:1C�1►[ele�ell Intl LOAN TO BLOCK 52 HOLDINGS, LLC IN THE AMOUNT OF $300,000 FOR THE PROJECT SIMPL OFFICE BUILD -OUT AT 101 WEST BROADWAY STREET, CONTINGENT ON COMPLETED LOAN ANALYSIS SUMMARY REPORT BY RIVERWOOD BANK WITH SATISFACTORY RECOMMENDATION. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. B. Consideration of Resolution 2024-03 authorizing a $48,422 Facade Improvement Forgivable Loan and Business Subsidy to Bliss Salon —109 Walnut Street Item 4B of the agenda was considered before item 4A. Mr. Thares provided an overview of the agenda item to the EDA and the public. The City received a completed application for the Downtown Fagade Improvement Program for 109 Walnut Street. Previously, the EDA held a workshop to discuss the project prior to an application being submitted, and reviewed the owner's identified improvements to the building. Staff's recommendation was for approval of the forgivable loan. Mr. Johnson opened the public hearing portion of the agenda item. Erika Fisher, owner of 109 Walnut Street, made herself available for questions. Rick Barger asked if the awnings at the front of the building are currently on the building. Ms. Fisher said that the awnings were still on the building, but are proposed to be removed in connection with the proposed improvements. Treasurer Hali Sittig asked if all the windows on the rear building wall were going to be replaced. Ms. Fisher confirmed. Mr. Johnson questioned whether the proposed improvements address the original goals of the program. He noted that the windows would be replaced and the stucco would be improved on all four sides of the building, but did not see any proposed substantial changes to the building. Ms. Fisher noted the interest in addressing all four sides of the building was due to the visibility of the side walls from both Walnut Street and River Street, as well as the new parking area the City created that faces the rear side. Mr. Johnson said he did not see the improvements proposed as enhancements to the building's fagade consistent with the program's intent. Mayor Hilgart disagreed and believed that the proposed improvements to the building facade were consistent with the program and added that the time to discuss the proposed improvements was at the workshop meeting prior to the submittal of the application. Mr. Johnson noted that in previous applications the EDA had worked with applicants to develop architectural drawings to detail proposed improvements. It was in his interest for the item to be tabled until the applicant brought back an updated proposal that included more enhancements to the building. Ms. Sittig asked if the program's original intent was to substantially change the facades of buildings in the downtown area, or whether is was to assist with improvements to those existing building's facades. Community Development Director Angela Schumann clarified that the EDA originally worked with an architect to develop renderings from a historical perspective for the eligible area when it was limited to block 35. As the eligibility area expanded, more buildings were included that did not have older photos for creating renderings from that same historical perspective. Vice President Jon Morphew noted that the interest in this program has not been at the level the EDA had been hoping for at the time of implementation, but providing opportunities like this to the property owners downtown could help spur interest as the improvements are completed. Mr. Johnson reiterated the workshop meeting discussed the improvements broadly, and the EDA had not approved an application for the program that included improvements to rear building walls. Mr. Johnson closed the public hearing portion of the agenda item. TRACY HINZ MOVED TO ADOPT EDA RESOLUTION 2024-03 APPROVING A FACADE IMPROVEMENT LOAN TO BLISS SALON IN THE AMOUNT OF $48,422, CONTINGENT UPON EXECUTION OF THE REQUIRED LOAN AGREEMENT AND PROMISSORY NOTE BY THE APPLICANT AND COMPLIANCE WITH CASH MATCH REQUIREMENTS. HALI SITTIG SECONDED THE MOTION. MOTION CARRIED 6-1, WITH STEVE JOHNSON VOTING IN OPPOSITION. 6. Regular Agenda A. Consideration of AE2S Marketing Proposal in the amount of $16,874 for preparation of housing and economic development resources Ms. Schumann provided an overview of the agenda item to the EDA and the public. In 2022, the EDA worked with AE2S to develop an Integrated Marketing and Communication Plan (ICMP) that identifies strategies to assist Monticello as they continue to slowly transition from an energy -based economy. Based on the final ICMP, AE2S provided a proposal to create communication tools for the EDA to utilize to promote their development priorities. Those communication tools include a one- page overview of Monticello, one-page overview related to commercial development, one-page summaries for the priority parcels owned by the EDA for development opportunities, and a new resident packet. Mr. Johnson asked why the EDA would fund the new resident packet for the City, and whether communication efforts by the EDA should be focused on potential investors for the community, rather than people who have already invested in the City by moving here. Ms. Schumann noted that the new resident packet would also reach current renters in Monticello, providing a connection to them could influence their decision whether to purchase property within Monticello once they are done renting. Ms. Schumann reminded the EDA they are also the City's Housing and Redevelopment Authority. OLLIE KOROPCHAK-WHITE MOVED TO APPROVE A PROPOSAL FROM AE2S IN THE AMOUNT OF $16,874 FOR PREPARATION OF HOUSING AND ECONOMIC DEVELOPMENT RESOURCES. HALI SITTIG SECONDED THE MOTION. MOTION CARRIED 6-0, WITH STEVE JOHNSON ABSTAINING FROM THE VOTE. 7. 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. 8. Adjournment TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO EDA. RICK BARGER SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0. 114 I MI1►i alelDI61,111;1►"e112 Fj K, IlaXI EDA Agenda: 03/13/24 3F. Consideration of Resolution 2024-04 Supporting Wright County Economic Development Partnership (WCEDP) in its Child Care Economic Development Grant Funding Application to MN -DEED Prepared by: Meeting Date: ❑ Regular Agenda Item Economic Development Manager 03/13/24 p Consent Agenda Item Reviewed by: Approved by: Community Development Director, City Administrator Community Economic Development Coordinator ACTION REQUESTED Motion to adopt Resolution 2024-04 supporting WCEDP in its Child Care Economic Development Grant Program funding application to MN -DEED. Motion of other. REFERENCE AND BACKGROUND The EDA is asked to adopt Resolution 2024-04 supporting WCEDP in its effort to obtain funding from MN -DEED through the Child Care Economic Development Grant Program. A total of $600,000 is available to applicants meeting the appropriate eligibility criteria. WCEDP has contacted various childcare providers in Wright County and several entities have expressed an interest in pursuing facility expansion projects and/or investing in human capital as required in the Grant Program objectives. The funding program objectives are stated below: Individual childcare programs, both family and center -based, seeking funds to establish new operations or expanding existing operations are encouraged to partner on their funding request with local or regional organizations with experience in the planning and/or financing of childcare facilities and programs. The lead applicant will act as the fiscal host for funding Eligible Uses: Including but not limited to funding for childcare business start-up or expansion, training, direct subsidies or incentives to retain employees, facility modifications or improvements required for licensing, and assistance with licensing and other regulatory requirements. This grant is not intended to be used as revenue for the financing of ongoing operations. This is one-time funding for investment in new child capacity at a new facility or existing facility in a center or home environment. Amount Available: Interested parties may request up to $600,000 in state funds through this RFP. To be eligible for the maximum amount the proposal must be used to expand childcare capacity at a minimum of two locations. The maximum amount a single location proposal can request is $300,000 EDA Agenda: 03/13/24 If the EDA authorizes the resolution of support, it will be provided to WCEDP to send to MN - DEED to add to its grant submittal packet. I. Budget Impact: The budget impact related to rescinding TIF District 1-44 is minimal. City staff drafted the Resolution, and the EDA attorney reviewed it. II. Staff Workload Impact: The staff workload for this effort is minimal. III. Comprehensive Plan Impact: N/A STAFF RECOMMENDATION Staff recommend the EDA adopt Resolution 2024-04 supporting Wright County in its efforts of obtaining funding from the MN -DEED Child Care Economic Development Grant Program. If WCEDP is awarded funding through this program, some of the dollars may eventually be used to further expand childcare operations as per the grant program criteria in the City of Monticello. SUPPORTING DATA A. EDA Resolution 2024-04 B. Childcare Grant Information CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2024-04 SUPPORTING WRIGHT COUNTY ECONOMIC DEVELOPMENT PARTNERSHIP (WCEDP) APPLICATION TO MN -DEED CHILD CARE ECONOMIC DEVELOPMENT GRANT PROGRAM WHEREAS, a 2018 study completed by First Children's Finance, a Minnesota nonprofit corporation, revealed that the City of Monticello, Minesota (the "City") had a total unmet need of approximately 700 childcare slots, and WHEREAS, the 2023 Minnesota Legislature recognized that childcare is an important component of a growing and healthy economy and authorized a funding program through the Minnesota Department of Employment and Economic Development (MN -DEED) to help address childcare facility and staffing capacity issues, and WHEREAS, the Wright County Economic Development Partnership (WCEDP) has determined that it will move forward with the submittal of a $600,000 grant application to MN -DEED through its Child Care Economic Development Grant Program to address childcare facility and/or staff capacity challenges in Wright County, Minnesota, which includes the City. NOW THEREFORE BE IT RESOLVED BY the Board of Commissioners ("Board") of the City of Monticello Economic Development Authority, Monticello, Minnesota (the "Authority") that it fully supports WCEDP's efforts to obtain grant funding through the Child Care Economic Development Grant Program offered by MN -DEED to address childcare facility and staffing capacity issues in Wright County and in the City. Approved by the Board of Commissioners of the City of Monticello Economic Development Authority on March 13, 2024. President ATTEST: Executive Director MN190\101\938747.v1 Jim Thares From: Jolene Foss <JoleneF@wrightpartnership.org> Sent: Friday, February 16, 2024 2:04 PM To: Adam Nafstad; Kelly Hinnenkamp; Jim Gromberg; David Kelly; Annita Smythe; Stephanie Trottier; Brad Potter; Phil Kern; Jennifer Nash; annac@cityofrockford.org; Nick Haggenmiller; Scott Chantland; Jim Thares; Melissa Stenson; Marc Weigle; CoM Utilities; Adam Flaherty; Sabrina Hille Cc: Missy Meidinger Subject: Re: MN DEED Childcare Economic Development Grants The deadline to submit a proposal is March 12. Jolene Foss Executive Director 320.534.8344 Cell 763-496-5593 Office 3650 Braddock Ave NE Buffalo, MN 55313 ce p Wright County Economic Development Partnership P"W49 /Of oppovundr�as From: Jolene Foss Sent: Friday, February 16, 2024 2:02 PM To: Adam Nafstad<anafstad@ci.albertville.mn.us>; Kelly Hinnenkamp <khinnenkamp@annandale.mn.us>; Jim Gromberg <JGromberg@wsbeng.com>; David Kelly <david.kelly@ci.buffalo.mn.us>; Annita Smythe <asmythe@clearwatercity.com>; Stephanie Trottier <strottier@clearwatercity.com>; Brad Potter <bpotter@cokato.mn.us>; Phil Kern <pkern@delano.mn.us>; Jennifer Nash <cityadmin@ci.hanover.mn.us>; annac@cityofrockford.org <annac@cityofrockford.org>; Nick Haggenmiller <cityadmin@howard-lake.mn.us>; Scott Chantland <scatman1111@hotmail.com>; Jim Thares <Jim.Thares@ci.monticello.mn.us>; Melissa Stenson <Sohavenc@windstream.net>; Marc Weigle <marcw@stmichaelmn.gov>; CoM Utilities <JBonniwell@montrose- mn.com>; Adam Flaherty <aflaherty@ci.otsego.mn.us>; Sabrina Hille <SHille@ci.otsego.mn.us> Cc: Missy Meidinger <MissyM@wrightpartnership.org> Subject: MN DEED Childcare Economic Development Grants Hello Wright County City Leaders, The Board has approved the WCEDP to be the lead applicant toward completing the application for local communities to increase the number of quality childcare providers to support economic development, if there are applicable projects. Individual childcare programs, both family and center -based, seeking funds to establish new operations or expanding existing operations are encouraged to partner on their funding request with local or regional organizations with experience in the planning and/or financing of childcare facilities and programs. The lead applicant will act as the fiscal host for funding Eligible Uses: Including but not limited to funding for childcare business start-up or expansion, training, direct subsidies or incentives to retain employees, facility modifications or improvements required for licensing, and assistance with licensing and other regulatory requirements. This grant is not intended to be used as revenue for the financing of ongoing operations. This is one-time funding for investment in new child capacity at a new facility or existing facility in a center or home environment. Amount Available: Interested parties may request up to $600,000 in state funds through this RFP. To be eligible for the maximum amount the proposal must be used to expand childcare capacity at a minimum of two locations. The maximum amount a single location proposal can request is $300,000 am asking you all to consider this application The WCEDP will apply on your behalf if there are projects that qualify- and the more locations we can bring together, the better our competitive position will be to be awarded the $600,000 grant. Priority will be given to projects that seek funds to make sustainable one-time investments in human and/or physical capital that results in new supply of childcare beyond this one-time funding opportunity. Child Care Economic Development Grant Request for Proposals (mn.gov) Child Care Economic Development / Minnesota Department of Employment and Economic Development (mn. ov) Thank you and please contact me - the application deadline is- MARCH 4th, 2024. Jolene Jolene Foss Executive Director 320.534.8344 Cell 763-496-5593 Office 3650 Braddock Ave NE Buffalo, MN 55313 2 EMPLOYMENT AND ECONOMIC DEVELOPMENT State Fiscal Year (SFY) 2024-2025 Request for Proposals: Childcare Economic Development Grants Application Information and Materials January 30, 2024 Please read through this entire application package BEFORE you begin to respond to the application questions and before you complete the checklist. Eligible Recipients: This funding is for grants to local communities to increase the number of quality childcare providers to support economic development. Eligible recipients include a: public entity, Tribal Nation, community service agency, or 501(c)(3) having experience in one or more of the following: the operation of, planning for, financing of, advocacy for, or advancement of the delivery of childcare services. Individual childcare programs, both family and center -based, seeking funds to establish new operations or expanding existing operations are encouraged to partner on their funding request with local or regional organizations with experience in the planning and/or financing of childcare facilities and programs. The lead applicant will act as the fiscal host for funding. Eligible Uses: Including but not limited to funding for childcare business start-up or expansion, training, direct subsidies or incentives to retain employees, facility modifications or improvements required for licensing, and assistance with licensing and other regulatory requirements. This grant is not intended to be used as revenue for the financing of ongoing operations. This is one-time funding for investment in new child capacity at a new facility or existing facility in a center or home environment. Amount Available: Interested parties may request up to $500,000 in state funds through this RFP. To be eligible for the maximum amount the proposal must be used to expand childcare capacity at a minimum of two locations. The maximum amount a single location proposal can request is $300,000. Fifty percent of grant funds must go to communities located outside the seven -county metropolitan area. Childcare Economic Development Grants. Updated October 2023. Cover Sheet RFP Release: January 30, 2024 Proposals Due: 4:00 p.m., March 12, 2024 Proposals should be submitted by email to CCED.DEED@state.mn.us in a single PDF file not to exceed 25mb in file size. Please avoid using a large number of images files, photos, and scanned documents in the proposal document as that greatly increases the file size. This does not include any required financial documents which should be submitted as a separate document. The subject of the email line should be "CCED24 — [Organization Name]" Late proposals will not be accepted. Informational Webinar 11:00 am —12:30 pm, February 8, 2024. To join the meeting from your smartphone, tablet or computer select the Microsoft Teams meeting link or use the audio only call-in number +1651-395-7448, (Conference ID 60882039#) All webinars will be recorded, and content will be made available online at https://mn.gov/deed/business/financing- business/deed-programs/child-care/ Timeline RFP posted on the DEED website Informational Webinar Questions accepted via email Proposals due no later than 4:00 pm central time Award Notification Grant end date January 30, 2024 February 8, 2024 January 30 — February 28, 2024 March 12, 2024 May 2024 June 30, 2025 Disclaimer: All costs incurred in responding to the Request for Proposal (RFP) will be borne by responder. This RFP does not obligate the State to award a contract or complete the project. The State also receives the right to cancel the solicitation if it is considered to be in its best interests. There will not be an option to extend. Alternative Format: Upon request, these materials will be made available in alternative formats and additional languages. Childcare Economic Development Grants. Updated October 2023. EDA Agenda: 03/13/24 5A. Consideration of Business Subsidy Pre -Application — Silas Partners Proposal Prepared by: Meeting Date: 0 Regular Agenda Item Economic Development Manager 3/13/24 ❑ Consent Agenda Item Reviewed by: Approved by: Community Development Director, City Administrator Community Economic Development Coordinator ACTION REQUESTED Motion to recommend that the Silas Partners proposal continue forward with further steps to bring a complete final Business Subsidy Tax Abatement Application back to the EDA for final review at a future meeting. Motion of other. REFERENCE AND BACKGROUND The EDA is asked to consider a Business Subsidy (Tax Abatement) Pre -Application related to the Silas Partners development proposal. It is worth noting that this is the very first time that the EDA is reviewing a Tax Abatement request as it was only recently a policy decision by the City Council and EDA to begin utilizing this economic development tool. A Joint EDA -City Council Special Meeting held immediately prior to the regular EDA meeting will have allowed the applicant to walk through the sizeable development proposal. The EDA may have additional questions or comments regarding the development scope, timeline, jobs, ultimate estimated developed property value and potential property taxes resulting from the proposal. This will be an opportunity to further engage with the developer regarding those aspects of the proposal and the request for assistance. Tammy Omdal, Northland Securities will also attend the meeting to help answer questions that the EDA may have as well. I. Budget Impact: The budget impact related to initial review step of the Business Subsidy Application is minimal. II. Staff Workload Impact: The City Administrator, Community Development Director, Finance Director, Community Economic Development Coordinator and Economic Development Manager are involved in the Business Subsidy Application review process related to the proposed development. Northland Securities staff will also be involved in the initial review of the financial assistance request. III. Comprehensive Plan Impact: The Economic Development section of the Comprehensive Plan encourages formation of an effective economic development effort which creates a EDA Agenda: 03/13/24 supportive business environment and builds a vibrant, thriving local economy. Utilization of the various economic development tools, including tax abatement, is a method to fulfil the objectives stated in the Comprehensive Plan. STAFF RECOMMENDATION Staff recommend that the EDA consider information in the presentation and support a process decision for Silas Partners to prepare a final Business Subsidy Tax Abatement Application and come back to the EDA for review of the requested assistance at a future meeting. This initial pre -application review is the first of several key review steps for this proposal. SUPPORTING DATA N/A EDA Agenda: 03/13/24 5B. Consideration of Resolution 2024-05 Rescinding Approval of Contract for Private Development and Tax Increment Financing (TIF) District No. 1-44 Prepared by: Meeting Date: ® Regular Agenda Item Economic Development Manager 03/13/24 ❑ Consent Agenda Item Reviewed by: Approved by: Community Development Director, City Administrator Community Economic Development Coordinator ACTION REQUESTED Motion to adopt Resolution 2024-05 rescinding Approval of Contract for Private Development and TIF District No. 1-44. Motion of other. REFERENCE AND BACKGROUND The EDA is asked to adopt Resolution 2024-05 rescinding approval of Contract for Private Development (Washburn Computer Group expansion) and TIF District 1-44 which was authorized though never certified by Wright County. A TIF Plan was adopted by the EDA in April 2022 as part of the process authorizing the establishment of the Economic Development TIF District. As a reminder, Washburn Computer Group had proposed completing a 42,500 square foot building expansion and asked the EDA for TIF assistance as part of its financing for the estimated $4,950,000 project. Washburn was also hoping to acquire a 1.46 -acre parcel directly south of its current facility to accommodate truck maneuvering, loading -unloading, and parking for its expanded building and operations. Washburn Computer then informed staff in May 2022 that is wanted to reassess its space needs and pause the expansion plans. As a result, the Contract for Private Development related to the proposal and the TIF Plan was never entered into between Washburn Computer and the EDA. Recently in a project review meeting, the EDA attorney advised that sufficient time had passed since the EDA approval of the TIF Plan with no actual development occurring, and if Washburn were to move forward with a new project now, the EDA and City approvals would need to be completed again. Based on that guidance, staff is recommending the EDA rescind the TIF District authorization and the Contract for Private Development. Due to TIF District never having been certified as such by the County Auditor, the step to rescind the Contract for Private Development and the TIF District serves a dual purpose of addressing the status through appropriate documentation and mitigating legal liability related to previous actions by the EDA and City Council. The EDA should also know that City staff contacted Washburn officials about EDA Agenda: 03/13/24 rescinding the Contract for Private Development and the TIF District and learned that the company has adjusted and optimized its operations and also recently leased additional local warehouse space wherein it does not foresee a need to expand its current building for several more years. I. Budget Impact: The budget impact related to rescinding TIF District No. 1-44 is minimal. The EDA attorney drafted the EDA resolution. The estimated legal fees related to this step are approximately $580.00 +/-. II. Staff Workload Impact: The Community Development Director and Economic Development Manager were involved in discussing the step of rescinding TIF District No. 1-44 with the EDA attorney. Additional time included preparation of the staff report and EDA meeting presentation. No other staff are required to complete the work in this effort. III. Comprehensive Plan Impact: N/A STAFF RECOMMENDATION Staff recommend the EDA adopt Resolution 2024-05 rescinding approval of a Contract for Private Development (never entered into) and TIF District No. 1-44 (never certified). Adopting the resolution rescinding the Development Contract and the TIF District will address legal liabilities and provide a clerical record for the project file. SUPPORTING DATA A. EDA Resolution 2024-05 B. Aerial Photo CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2024-04 RESCINDING APPROVAL OF CONTRACT FOR PRIVATE DEVELOPMENT AND RESCINDING APPROVAL OF TAX INCREMENT FINANCING DISTRICT NO. 1-44 BE IT RESOLVED BY the Board of Commissioners ("Board") of the City of Monticello Economic Development Authority, Monticello, Minnesota (the "Authority") as follows: Section 1. Recitals. 1.01. Pursuant to Resolution No. 2022-40 adopted by the City Council of the City of Monticello, Minnesota (the "City") on April 11, 2022, and Resolution No. 2022-10 adopted by the Board on April 13, 2022 (the "Authority Resolution"), the City and the Authority, respectively, have previously established Tax Increment Financing (Economic Development) District No. 1-44 (the "TIF District"), within the Central Monticello Redevelopment Project No. 1 (the "Redevelopment Project") within the City pursuant to Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the "TIF Act"), Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.090 to 469.108 1, all inclusive, as amended (collectively, and together with the TIF Act, the "Act"), and adopted a related Tax Increment Financing Plan (the "Plan"); all as reflected in that certain document entitled "Tax Increment Financing Plan for Tax Increment Financing (Economic Development) District No. 1-44 Within Central Monticello Redevelopment Project No. 1," dated March 11, 2022. 1.02. Pursuant to Resolution No. 2022-22 (the "Agreement Resolution"), adopted by the Board on July 13, 2022, the Authority approved the execution of a Contract for Private Development (the "Contract") with The Washburn Computer Group, Inc., a Minnesota corporation, or an affiliate thereof or entity related thereto (the "Developer"), pursuant to which the Authority offered certain assistance in the form of a taxable tax increment revenue note (the "Note") to reimburse the Developer for certain costs associated with the construction of an approximately 42,500 square foot expansion to an existing 33,000 square foot building to provide a facility for warehousing and distribution (the "Project") to be located on certain property within the TIF District. 1.03. Pursuant to Resolutions No. 2022-31 and No. 2022-33, dated October 12, 2022 and November 9, 2022, respectively, the Board approved an Option Agreement with the Developer (the "Option Agreement"), whereby the Authority granted the Developer the option to acquire certain real property located in the TIF District from the Authority. Neither the Authority nor the Developer executed the Option Agreement. Pursuant to Resolution No. 2023-02, dated February 8, 2023, the Board rescinded and revoked the Option Agreement. 1.04. The Project was never constructed as anticipated and the Contract was never executed by the Authority or the Developer. 1.05. The Authority never certified the TIF District. MN190\172\938328.v2 1.06. The Authority proposes to rescind the Authority Resolution approving the TIF District and the TIF Plan, and (ii) rescind the Agreement Resolution approving the Contract and all related documents. Section 2. Approval of Contract Rescinded, Approval of TIF District Rescinded. 2.01. The Authority Resolution approving the TIF District and the TIF Plan is hereby rescinded as of the date hereof. 2.02. The Agreement Resolution approving the Contract, and all related documents, are hereby rescinded as of the date hereof. 2.03. The TIF Plan and the TIF District are hereby rescinded as of the date hereof. Approved by the Board of Commissioners of the City of Monticello Economic Development Authority on March 13, 2024. President ATTEST: Executive Director 2 MN190\172\938328.v2 T0.1 -I 11hr Bea I fJ n n Wright County, MN Overview Date created: 10/29/2021 Last Data Uploaded: 10/29/20218:44:19 AM Developed byL� Schneider w Gf O5PATIAL Legend Roads — CSAHCL — CTYCL — MUNICL — PRIVATECL — TWPCL Highways Interstate — State Hwy US Hwy City/Township Limits I I C F1 ❑� Parcels EDA Agenda: 3/13/2024 6A. Economic Development Manager's Report Prepared by: Meeting Date: ❑x Other Business Economic Development Manager 3/13/2024 Reviewed by: Approved by: N/A N/A REFERENCE AND BACKGROUND 1. The EDAM Day At the Capitol is scheduled for March 20, 2024. The 2024 EDAM Legislative Priorities is attached as Exhibit A. Staff will be attending the all -day event at the Capitol and will have a chance to meet with area legislators and discuss the economic development priorities that impact the City of Monticello and more generally, the priorities outlined in the attachment. 2. Update on Retail Market Analysis Study Considerations and Next Steps 3. Projects Update - See Exhibit B. 4. Prospect List Update - See Exhibit C. REDEVELOPMENT: EDAM's TOP PRIORITY is to increase funding for the Redevelopment Grant Program • EDAM members rank Redevelopment Grants as their most effective economic development tool and this remains the top priority for EDAM advocacy efforts. • The program's numbers speak for themselves. For example, funds from the last biannual round will create over 130 new housing units during a time when lack of supply is impacting many communities. • The one-time increase to the base funding in the 2023 session is appreciated but more funds are sorely needed, as the grant program is over -subscribed, and the costs of construction and interest rates have significantly increased. • Redevelopment funds assist communities with their redevelopment projects by filling the financial gap that prevents recycling land for more vibrant uses that benefit the community and local businesses. Redeveloping previously built sites, where there are often dilapidated structures, is more complex and costly compared to undeveloped parcels. Funds allow small and new businesses owners to partake in these projects and be leaders in reimagining their communities. • The Program has created or retained over 31,000 jobs and added over 8,500 housing units across the State by spurring the redevelopment of over 1,472 acres of blighted land. • The $87 million in Redevelopment funds awarded to date have leveraged over $3.7 billion in business investment and increased local tax bases by $60 million. CHILDCARE: EDAM STRONGLY SUPPORTS organizations leading the charge in advocating for solutions to the childcare crisis • No conversations about economic development and workforce issues can be divorced from the childcare crisis plaguing our communities, with Minnesota being the third most expensive state for childcare. • EDAM members continue to raise concerns about the cost of childcare, the availability, ability to attract, retain and compensate staff, along with facilities challenges. All of this is more challenging for our rural members. • EDAM will continue its landscape analysis and support of coalition efforts to address these issues. • Some proposals EDAM supports: • Ensure current funding reaches providers and is not limited to families only. Encourage new providers by inventing facilities renovations. Support current providers by funding training, staffing support, and facilities upgrades. • Support continuation of previous programs with direct financial incentives to care providers (i.e. Financial Hardship Grants, Child Care Facility Revitalization Grants, and Child Care Aware Regional Grants, and Minnesota Initiative Foundation Grants). • Expanding state childcare and early education subsidies so that families would pay no more than 7 percent of their income for childcare, including scholarships and tax credits. EDAM continues to raise awareness of critical economic development programs, with the two foundational grants being: JOB CREATION FUND (JCF) • JCF encourages business investment and job creation by providing awards after the business meets performance commitments related to capital expenditures and full-time job creation. • JCF is a performance-based program that is a complementary program to MIF. • Without this program Minnesota is at a competitive disadvantage compared to our neighboring states. • Since FYI 8, the program has made 109 JCF awards valued at nearly $41 million. This is a valuable program for the entire state as 62% of the projects (68) are in Greater Minnesota. • Awards are expected to leverage $2.32 billion and create 5,643 jobs. MINNESOTA INVESTMENT FUND (MIF) • MIF is a unique financing tool as repayments of MIF loans seed local revolving loan funds which are then used to leverage additional private financing. • This has been critical to fueling job creation, business expansion and new tax bases. • Communities in both Greater Minnesota and Metro Areas rely on this program to remain competitive with neighboring states in their effort to bring jobs and tax base to Minnesota. • Since FY18, DEED has made 102 MIF awards valued at more than $50.2 million touching all corners of the state (expected to leverage more than $2.33 billion and create 5,470 jobs). To address critical economic development and workforce shortages, EDAM supports: EDAM supports: WORKFORCE DEVELOPMENT • Expand career and technical education training (including earn -and -learn). • Incentivize employers to create career pathways to upskill workers. • Fund scholarship programs that assist low-income individuals with the cost of obtaining credentials in high -demand fields. • Incentivize technical colleges to more closely partner with local industries and businesses. • Increase state funding to match federal programs such as Workforce Innovation and Opportunity Act (WIOA) or SNAP Employment and Training (E&T) program. HOUSING Support continuation and increased funding to workforce housing programs; i.e. Economic Development and Housing Challenge Program (EDHC) and Workforce Housing Development Program. Increase appropriations for Housing Infrastructure Bonds (HIB) and expansion of eligible uses to include workforce housing. Continue to fund homebuyer and homeowner assistance programs (i.e. First -Time Homebuyer Program, Repeat Homebuyer Program, Down Payment and Closing Cost Programs Loan assistance for first-time home buyers). • Small businesses, as they are the backbone of our communities. State support for Small Business Development Centers has been essential and EDAM looks forward to continuing to advocate for increases to this funding as well as other programs. • Robust capital investment funding for local projects. Infrastructure funding is essential to encourage meaningful economic growth and development in our communities. ._ ub if �A fgot J w �. ■ \. t ` MSArm AWN // a :4L•. J•cN r r� Em"' OV O fgot J w �. ■ \. t ` MSArm AWN // a :4L•. EDA Agenda: 03/13/24 3A. Proiect Update Block 52 Mixed Use Commercial -Residential Redevelopment: The Block 52 building received a C.O. in early February. Residential units are being rented out at this time. Project Simpl at the building involves the final build out of a 13,000 square feet of office space for Simplicity Group Financial Services, a financial services -products (insurance and investments) firm, with 102 FTE employees (50 new FTE). The work is expected to begin in mid-March 2024. Discussions are continuing with prospective restaurants and other commercial tenants. A total of 95 new FTE jobs [50 + 45] will be required to be created by the new businesses that occupy the building. Headwaters Villa Twin Homes: The 60 -unit twin home housing development project for ages 55 + on 7th Street West is progressing with modular units being placed on the foundations. This work is expected to occur for the remainder of 2024. 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 progressing. 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. Wiha Tools Warehouse Facility Development: Construction of Wiha Tools' new 74,000 square foot assembly and warehouse facility development also continues with a completion date of early March 2024. 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 EDA Agenda: 03/13/24 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 Proposals on the Prospect List: Several other proposals, some which are sizable, are making progress toward submittals of concept development plans. Staff will provide a verbal update of those proposals at the meeting. 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 03/08/2024 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 03/08/2024 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 Mfg 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 03/08/2024 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 1/17/2024 Project Tex Industrial New Construction 500,000 sq. ft. 0 100 $500,000,000 Active Search 1/17/2024 Project G Industrial New Construction 1,000,000 sq. ft. 0 ? $120,000,000 Focused Search 1/2/2024 Project Simpl Office New Construction -Build Out 13,303 sq. ft. 23 50 $2,000,000 Identified Site 2/12/2024 Project Lodge- MSMWDC Lodging -Hospitality New Construction ? 0 10 $12,000,000 Identified Site Contacts: M = 03 YTD = 11