HRA Agenda 12-01-2004
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AGENDA
MONTICELLO HOUSING AND REDEVELOPMENT AlJTHORITY
Wednesday, December 1, 2004 - 6:00 p.m.
50S Walnut Street - Bridge Room
Commissioners:
Chair Bill Fair, Vice Chair Darrin Lahr, Dan frie, Brad Barger, and Steve
Andrews.
Council Liaison:
Roger Carlson.
Staff: Rick Wolfsteller, Ollie Koropchak, and Angela Schumann.
1. Call to Order.
2. Consideration to approve the November 3, 2004 HRA minutes.
3. Consideration of adding or removing items from the agenda.
4. Consent Agenda.
5.
Consideration of a progress report from Brad Johnson or Barry Fluth relative to Phase II of
Landmark Square.
6. Consideration to review final revisions to the Monticello Transformation Home Loan
Application Package.
7. Consideration to review design sketches for marketing core city development and the
Transformation Loan Program.
8. Consideration to discuss term expiration dates of HRA Commissioners.
9. Consideration to authorize payment of HRA bills.
10. Consideration of Executive Director's Report.
11. Committee Reports.
a) Set meeting date for Marketing Committee.
12. Other Business.
a) Next lIRA meeting January 5, 2005.
13.
Adjournment.
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MINUTES
MONTICELLO HOUSING AND REDEVELOPMENT AlJTHORITY
Wednesday, November 3,2004 - 6:00 p.m.
50S Walnut Street - Bridge Room
Commissioners Present:
Chair Bill Fair, Vice Chair Darrin Lahr, Dan Frie, and
Steve Andrews
Brad Barger, City Council Liaison Roger Carlson.
Commissioners Absent:
Staff Present:
Rick Wolfsteller, Ollie Koropchak, and Angela Schumann.
1. Call to Order.
Chairman Fair called the meeting to order at 6:00 PM, and declared a quorum, noting the
absence of Commissioner Barger.
2. Consideration to approve the November 3rd, 2004 HRA minutes.
MOTION BY COMMlSSIONER FlUE TO APPROVE TIlE MlNUTES OF
NOVEMBER 3rd, 2004.
MOTION SECONDED BY COMMISSIONER ANDREWS. MOTION CARRIED.
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Consideration of adding or removing items from the agenda.
NONE.
4. Consent Agenda.
NONE.
5. Consideration to review revisions to the Monticello Transformation Home Loan
Application Package and authorize commencement of program January 1. 2005.
Koropchak reviewed the changes made to the program draft materials for the program
since the last meeting. Those changes were made after a meeting with Mark Ruff and
Steve Bubul. Koropchak rcported that it was confirmed at that meeting that the funds had
to be used for redevclopmcnt in structurally substandard homcs. Bubul also
recommended adding criteria defining "structurally substandard".
Koropchak statcd that ideally, the remodeling and design advisor service would be
combined with redevelopment test. Koropchak had spoken with thc inspector that Bubul
had recommended. I Ie had indicated that he could train City Building Officials on the
redevelopment inspections.
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Koropchak reported that both Bubul and Ruff suggested that the transformation loans be
payble upon the sale of property or forgiven after ten years, noting the investment and the
goal of long term stability.
Fair noted that the shorter term for loan forgiveness was intended as an incentive to
participate in the program. He pointed out that if a homeowner makes such a significant
investment, it is unlikely that at sale, the property would turn into a rental. Hc suggested
that perhaps the HRA could prorate pay-back bctween five and ten years. Fair explained
that the lenders had also thought that five years would be an incentive.
The Commissioners discusscd a timeframe for forgiveness, directing Koropchak to adjust
the guidelines to forgive in 7 years with no pro-ration. If the propcrty is sold within that
time, the loan will be required to be paid back in full.
Koropchak reviewed other changcs, noting that shc would be working with the Building
Department to fine tunc other areas.
Fair asked if the loan recipients deviate from the loan criteria, would they have the
opportunity to come to the I IRA for an appcal of the variations. Koropchak stated that
would be something the lIRA could consider at the point that it bccomes an issuc.
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Fair qucstioned the sweat equity clause. Koropchak stated that she needcd clarification
of that item. Fair stated that lenders will acccpt swcat equity as part of down payment on
a typical home loan. Wolfsteller and Frie statcd that thc easiest method for allowing
sweat equity is to allow the bank to handle it through the loan proccss, thercby
distinguishing betwcen valuc and cost. Wolfsteller indicatcd that the HRA
transformation loan should be based on what the applicant borrows. The sweat equity
can be used in how the applicant gets to the base qualifying amount.
The Commission dirccted Koropchak to add the clause "Swcat equity can be used for
eligibility when verified by a certified appraisal at applicant's expense."
Koropchak noted that loan amounts will be public data according to state statutcs.
I lowever, as thc lender will complete thc credit analysis, the HRA and public will not
have access to that information.
Lahr asked if there arc any remedies if the loan recipicnt docsn't pay the loan back if the
homc is sold within 7 years. Fair indicated that the note and mortgage against the
property would act as thc remedy. If the property is sold, the closer has to disburse back
to the City. Koropchak also notcd that the 7 years expires at thc date of last
disbursement.
Fair statcd at the next HRA meeting the Commissioners and Koropchak will determine
how to market the program.
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MOTION BY COMMISSIONER ANDREWS TO AUTHORIZE COMMENCEMENT
OF THE PROGRAM JANUARY 1,2005, AND TO REQUEST FINAL DRAFT OF
DOCUMENTS AT TJ--IE HRA MEETING OF DECEMBER 1,2004.
MOTION SECONDED BY COMMISSIONER LAI IR. MOTION CARRIED.
6a) Consideration to review revisions and accept the Performance Measure for the
Otter Creek Business Campus.
Koropchak explained that she is looking for direction from the liRA on finalizing the
Performance Measures due to the liRA's commitment $400,000 to the Otter Creek
Business Campus. Koropehak outlined the performance measures for the HRA, noting
that she had reviewed them with Steve Bubul and Mark Ruff.
Koropchak specifically cited the minimum lot size at 2.5 acres, noting that if lots are too
small, the Business Park may need additional infrastructure. Lahr asked what the current
plan for infrastructure is based on. Koropchak stated that it is based on what was
outlined in the sketch, which relies on Chelsea, School and Haul as primary access
points.
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Lahr noted that all land is available at any size, it will just be a matter if a business wants
and can qualify for the discounted price. Koropchak asked the I IRA whether they even
wanted to sell land at market value, noting that with smaller lots, they would have to pay
for the additional infrastructure.
Andrews asked how attractive building sites would be at 2.5 acres. Frie stated that in
some areas there arc smaller lots. However, in most cases and in Monticello's
competitive bracket, the 2.5 acre lots are fairly consistent. Andrews indicated his desire
that Monticello stay consistent with competitors.
Frie asked if a 27,000 square foot building requirement might be too large for an office
complex, if the City will be marketing the areas as a business park. Koropchak noted that
an office building would also need more parking. Frie explained that he doesn't want to
lose an attractive market by being too severe is measurement goals.
Lahr asked if there was a way to weight criteria or trade-off. For examplc, if a business
creates more job or higher wages, the square footage requirement is lessened. Koropchak
explained that if an office user selects Otter Creek as a site, no TIF is available, and in
turn, the opportunity to purchase less acreage is available. The performance measure as
outlined just specified that if a buyer wants the reduced rate, the minimum size lot is 2.5
acres.
Koropchak reviewed the other measures, including wages. Lahr asked Koropchak if
most potential candidates would fit the criteria as outlined. Koropchak stated that they
are in this general range.
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Lahr asked if there was a way to simplify thc criteria for users. Koropchak stated she
would put a very simple questionnaire together for them, then complete the calculations
based on the worksheet.
Koropchak noted that the performance measures would bc presented to the Counci I
pcrhaps at the December meeting. The covenants and zoning had to go through tbe
Planning Commission and then on to Council.
MOTION BY COMMISSIONER ANDREWS TO ACCEPT THE PERFORMANCE
MEASURE FOR OTTER CREEK BUSINESS CAMPUS AS WRITTEN.
MOTION SECONDED BY FRIE. MOTION CARRIED.
6b. Consideration and approval of zoning for Ottcr Creek Business Campus for
rccommendation to Planning and Council.
Koropehak rcported that the Planning Commission had called for a public hearing
rcgarding the rezoning for December meeting. Koropchak requested that the liRA make
a recommendation on the zoning to the Planning Commission after briefly reviewing the
differences betwcen the outlined zoning designations.
MOTION BY COMMISSIONER LAl IR TO APPROVE THE RECOMMENDATION
OF AN ll-A ZONING FOR OTTER CREEK BUSINESS CAMPUS.
MOTION SECONDED BY COMMISSIONER ANDREWS. MOTION CARRIED.
6c.
Consideration and approval of covenants for Otter Creek Business Campus for
recommendation to Planning and Council.
Koropchak stated that the Small Group had supported I I-A zoning, howcver, they had
not decided specifically on which covenants. The Small Group was supportive of
covenants t"l)f Otter Creek in general.
Koropchak explained that City Planner Steve Grittman has attended the IDC meeting. He
will be working on clarifying the ordinance and potential covenants related to Open and
Outdoor storage. Koropchak noted that the I I-A district currently allows open and
outdoor storage by CUP. The IDC sent the covenant discussion back to the Small Group.
Koropchak rcported to thc HRA that she had researched Becker, Big Lake, Rogers, and
other surrounding communities in terms of covenants, and particularly open and outdoor
storage. The majority do not allow outdoor storage. Koropchak indicated that there is a
grey area on warehousing and distribution in thc new industrial/business parks.
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MOTION BY COMMISSIONER LAHR TO APPROVE THE RECOMMENDATION
TO DRAFT COVENANTS FOR OTTER CREEK BUSINESS CAMPUS (ll-A ZONE)
ACCORDINGL Y AS RECOMMENDED BY STAFF:
a) Landscaping -
b) Outdoor/Open Storage
c) Irrigation -
d) Exterior building material type -
c) Other
MOTION SECONDED BY COMMISSIONER ANDREWS. MOTION CARRIED.
7. Consideration to authorize payment of HRA bills.
MOTION BY COMMISSIONER FRIE TO AUTHORIZE PAYMENT OF HRA BILLS.
MOTION SECONDED BY COMMISSIONER LAHR. MOTION CARRIED.
8. Consideration of Executive Director's Report.
Koropehak reported that she had inquiries from real estate developers looking for a
55,000 square foot building with no outdoor storage.
Lahr recommended that when developing marketing materials for Otter Creek Business
Park, the term "preferred", rather than "performance" should be considered.
9.
Committee Reports.
NONE.
10. Other Business.
NONE.
II. Adjournment.
MOTION BY COMMISSIONER FRlE TO ADJOURN.
MOTION SECONDED BY COMMISSIONER LAHR. MOTION CARRIED.
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Chairman
Secretary
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lIRA Agenda - 12/01/04
5.
Consideration of a progress reoort from Brad .Johnson or Barry Fluth relative to Phase
II of Landmark Sauare.
A. Reference and Background:
If Brad or Barry are not present to give the HRA an update, the Executive Director will.
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liRA Agenda - 12/01/04
6.
Consideration to review final revisions to the Monticello Transformation Home Loan
Application Packa2:e.
A. Reference and background:
Since the November meeting of the HRA and per the commissioners request, the languagc for
use of "sweat cquity" was redeflncd. Upon mecting with leffO'Neill and Fred Patch, "swcat
equity" was further dcfined. See page 4, last paragraph.
Jeff, Fred, and I met on November 19, and the following items were discussions and the
outcomes:
1.
Jeff suggested including Balboul Estatcs in the target area. lie was informed this is a
one-year pilot program and the HRA may expand the area in the second year. Open
for further discussion.
Pre-Remodeling Condition Report - We discussed this quite throughly. I had preparcd
a Pre-Remodeling Condition fonn and attachmcnts to assist the Building Department in
assessing a home and to document the structurally substandard findings for the HRA.
These were based off a recommendation from Steve Bubul. T'he Building Official had
concerns with thc time involvcd with the inspection (internal inspcction) and the lcvel of
detailed information. "I'he Building 011icial will redesign the form to include check
boxcs for items not mecting code and space for the estimated sum total of the
improvement costs. We also discusscd that the cost to bring a home up to codc plus
the cost to remodel or upgrade, may prohibit onc to consider the Transf(mnation Loan.
Following up with that thought, Jeff suggested the HRA cvaluate loans based on
geographic area: single parcel via clustcr of homes (more than one parcel). He felt a
cluster of qualifying homes may better be served by a redevelopmcnt district
(demolish). Pleasc note thc language added on page 3, #4.
Remodeling Advisor Servicc - I had prepared a shcet on thc services to bc provided
by the Remodeling Advisor (Building OiIicial.). Due to a potential liability issuc by
serving both as an advisor and inspector and, again, the amount of time involved; the
Building Official recommended this scrvice be delcted. He felt a contractor/builder
could scrve in this capacity. The Remodeling Advisor Scrvice was deleted on page 2
and the application packagc will include a list ofremodelers ( contractors).
I took the liberty to add a linc on page 4, #8. Last line.
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I plan to mect with a title company prior to the liRA Deccmbcr mceting.
After review of thc final attached documents, please make any last minutes changes.
HRA Agenda - 12/01/04
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Attachments: Transformation Summary Program
Transformation 2005 Application Package
Transformation Application Form
Transformation Remodeler Form
Transformation Commitment/Disbursement Form
Transformation Pre-Remodeling Condition Report (Fred adjusting)
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DEVELOPMENT SERVICES
Economic Devdopme;:nt Director
Phone: (763) 271-3208
Fax: (763) 295-4404
E-mail: ollic.koropchak@ci.monticdhmn.us
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MONTICELLO
Housing and Redevelopment Authority
in and for the City of Monticello, Minnesota
TRANSFORMATION HOME LOAN
PROGRAM SUMMARY
The Monticello I lousing and Redevelopment Authority characterizes the Transformation Home Loan
as an "incentive loan". The incentive is just a little more financing with terrific tcrms, so that a homeowncr
may feel equipped to move forward on their remodeling projcct. To apply for the loan, the cost of your
remodeling project must be $50,000 or morc. The loan may be 20% of your remodeling projcct, when
the cost of remodeling is $50,000 or morc. The maximum loan amount is $20,000. The loan is interest-
free, and is payable upon salc of your property or forgiven after seven years. Limited to core city
location, assessed market values of $150,000 or less, and owner-occupied single-family detached home.
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CaJl the Monticello Transformation Line at 763-271-3208 for information and to pick up an
Appl ication Package at City Hall, 505 Walnut Street, Suite 1, Monticello, MN.
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. Contact a Local Lendcr of your (applicant's) choice.
. Call the City Building Departmcnt at 763-295-3060 for an appointment to assess the condition
of your home (Pre-Remodeling Condition Rcport.) A onc timc report at no cost to applicant.
Must qualify to proceed with Transformation Home program.
. Select a Remodeler (Contractor) and have Remodeler complete the Remodeler Form if
necessary.
. Return completed Loan Application Form to City llall for review and calculation of
Transformation Home Funds. Building plans must be approved and all setback and zoning
requirements must be met prior to commitment offimds.
. A letter of commitment veri fying the reservation of Transformation Ilome funds will be provided
to the applicant and lender.
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The Transformation] Iome Funds will be deposited in an escrow account and disbursed by the
title company. Final payment of funds must be disbursed by no later than six months afier the
lender's date of closing
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Monlicello City Hall, 505 Walnut Street, Suite I, Monticello, MN 55362-8831 · (763) 295-2711 . Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362 . (763) 295-3170 · Fax: (763) 27] -3272
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DI~VELOPMENT SERVICES
Phone: (763)271-3208
Fax: (763) 295-4404
E-mail: ollie.koropchak@ei.montieello.mn.us
Economic Developmcnl Director
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MONTICELLO
Housing and Redevelopment Authority
in and for the City of Monticello, Minnesota
TRANSFORMATION HOME LOAN
PROGRAM SUMMARY
The Monticel1o Housing and Redevelopment Authority characterizes the Transformation Home Loan
as an "incentive loan". The incentive isjust a little more financing with terrific terms, so that a homeowner
may feel equipped to move forward on their remodeling project. To apply for the loan, the cost of your
remodeling project must be $50,000 or more. The loan may be 20% of your remodeling project, when
the cost of remodeling is $50,000 or more. The maximum loan amount is $20,000. The loan is interest-
free, and is payable upon sale of your property or forgiven after seven years. Limited to core city
location, assessed market values of $150,000 or less, and owner-occupied single-family detached home.
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Call the Monticello Transformation Line at 763-271-3208 for information and to pick up an
Application Package at City llall, 505 Walnut Street, Suite 1, Monticello, MN.
. Contact a Local Lender of your (applicant's) choice.
. Call the City Building Department at 763-295-3060 for an appointment to assess the condition
of your home (Pre-Remodeling Condition Report.) A one time report at no cost to applicant.
Must qualify to proceed with Transformation Home program.
. Select a Remodelcr (Contractor) and have Remodelcr complete the Remodeler Form if
necessary.
. Return completed Loan Application Form to City Hall for review and calculation of
Transformation Home Funds. Building plans must be approved and all setback and zoning
requirements must be met prior to commitment (~ffimds.
. A letter of commitment verifying the reservation of Transformation Home Funds will be provided
to the applicant and lender.
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The Transformation Home Funds will be deposited in an escrow account and disbursed by the
title company. Final payment of funds must be disbursed by no later than six months ({fieI' the
date afclosing.
Monlicello City Hall, 505 Walnut Slreet, Suite I, Monticello, MN 55362-8831 . (763) 295-2711 . Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362 · (763) 295-3170. Fax: (763) 271-3272
DEVELOPMENT SERVICES
Phone: (763) 271-3208
Fax: (763) 295-4404
E-mail: ollie.koropchak(dlci.monticcllo.mn.us
Economic Development Director
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Housing and Redevelopment Authority
in and for the City of Monticello, Minnesota
MONTICELLO
TRANSFORMATION HOME LOAN
2005 APPLlCA nON PACKAGE
PU RPOSE
A "home transformation" means a major home remodel, increasing its livable space and its
value. Residents who enjoy living in the core city and know thc benefits of living within
walking distance of the Mississippi River, the community center, and the schools are choosing
to adapt and redevelop thcir existing homes to meet their current needs. The Transformation
Home Loan was developed to provide incentives for homeowners or home buyers in
Monticello to begin major redevelopment/remodeling activities.
The Transformation Homc Loan seeks to promote and foster a vibrant core city by:
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. Encouraging redevelopment of structurally substandard homes.
. Encouraging home owner-occupancy.
. Encouraging investment into the core city.
. Increasing housing market value.
TARGET AREA
The Transformation J-Iome Loan program is available for cxisting single-family detached
homcs located within the core city described as:
· North of 1-94.
· East of Otter Creek
. South of Mississippi River.
. West of Ilospital and Middle School.
TARGET VALUE
The Transformation Home Loan program is availablc for existing single-family detached
homes with a 2004 assessed market value of $150,000 or less.
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Monticello City Hall, 505 Walnut Street, Suite I, Monticello, MN 55362-8831 . (763) 295-2711 · Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362' (763) 295-3170' Fax: (763) 271-3272
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TARGET CRITERIA
The Transformation J lome Loan program is available for existing single-family detached
homes that meet the redevelopment qualification requirement of structurally substandard as
defined by Tax Increment Financing Law, 469.174.
"S'tructurally substandard" shall mean containing defects in structural element
or a combination ofdeJlciencies in essential utilities andfacilities, light and
ventilation, .lire protection including adequate egress, layout and condition of
interior partitions, or similar factors, which defects or deficiencies are of
sufficient total sign~ficance to.iust~fy substantial renovation or clearance.
A building is not structurally substandard ~lit is in compliance with the building
code applicable to new buildings or could be modUied to satisfy the building
code at a cost (~lless than 15 percent qfthe cost (~f constructing a new structure
(~fthe same square footage and type on the site. The municipality mayfind that
a building is not disqual{fied as structurally substandard under the preceding
sentence on the basis of reasonably available evidence, such as the size, type,
and age (?fthe building, the average costs qj'plumbing , electrical, or structural
repairs, or other similar reliable evidence. The municipality may not make such
a determination without an interior inspection of the property, but need not
have an independent, expert appraisal prepared qfthe cost qj'repair and
rehabilitation of the building.
FtJNDING SOtJRCE
The Transformation Home Loan program is a one-year pilot program commencing January 1,
2005, with a limited amount of funds, $150,000.
Program Features:
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Pre-Remodeling Condition Report. The Monticello Building
Department must assess the age of mechanical systems, measure
square footage, and otherwise note the condition of the home prior
to remodeling. Please call 763-295-3060 for an appointment.
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The Transformation Loan. The Monticello Housing and
Redevelopment Authority (HRA) characterized the Transformation
Loan as an "incentive loan". The incentive is just a little more
financing with terrific terms, so that a homeowner may feel equipped
to move forward on their remodeling project. To apply for the loan,
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the cost of your remodeling project must be $50,000 or more. The
loan may be 20% of your rcmodeling project, when the cost of
remodeling is $50,000 or more. The maximum loan amount is
$20,000. The loan is interest-free, and is payable upon sale of your
property or forgiven after seven (7) years. I f you have questions,
call 763-271-3208. Funds are limited.
Application Procedure:
1. Prior to starting your proicct, obtain this application package which includes the
builder requiremcnts and summary of design consideration, loan application form, a
list of remodclers (contractors), and a remodelcr form for remodelers who havc not
worked under the program prcviously.
2. Submit a complete application. A commitment of funds can only be made when all
required items have been receivcd. Please note: The ('ily of Monticello 's Building
Department must approve all building plans, and may have requirements
independent (?f'loan requirements. All setback and zoning requirements must
also be met.
3.
Applications will be revicwed on a first-come, first-served basis, with priority being
given to projects that are most ready to move fl)fward. Project readiness will be
determined by those that have completed drawings, have total project funding in placc
(e.g. havc a loan commitment or have closed on mortgage financing), and lor have a
remodeler under contract. Funding will not be held for projects that are not ready.
4. Once an application and other required documcnts have been received and reviewed,
a loan commitment will be made. Mceting the eligibility criteria does not entitle an
applicant to funding. The distribution of funds is thc sole decision of the Housing and
Redevelopment Authority.
Conditions of the Transformation Incentive Loan:
1.
Submitted applications will be rcviewed for appropriateness and completencss.
Projects gcnerally must be value-added improvements such as rcnovation or
expanding space. Plans will be reviewed for design considerations.
2.
The loan will be calculatcd at up to 20% of the initial contract price ifthc contract
pricc for remodeling is $50,000 or more, but not to exceed $20,000. The
commitment of funds is made at the beginning of the project.
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Funds are limited. You may want to call ahead of time to find out if funds are still
available.
4. A Pre-Remodeling Condition Report is required by the HRA to meet city financing
and auditing requirements. A property evaluator (not an appraiser) contracted by the
HRA will spend approximately an hour at your home to assess the age of mechanical
systems, measure square footage, and otherwise note the condition of the home prior
to remodeling. This is a one-time report for lIRA records and incurs no cost to the
homeowner.
5. Loans will not be considered for work in progress or work completed. The
Transformation Loan can only be considered for projects not yet begun.
6. You will be sent a commitment letter verifying the reservation of funds to be provided
at closing. A copy of the letter will be provided to your lender.
7. A copy of a letter of commitment from your lender verifying approval of the primary
loan is required.
8.
The Transformation Home Loan funds will be deposited in an escrow account and
disbursed by a title company. Upon satisfactory verification of work in progress or
upon completion, the escrow account will be drawn upon in pro-rated increments
simultaneously as funds are drawn upon from the primary loan to make payments to
the remodcler. Work must be completed prior to final disbursement.
9. The Transformation Home Loan shall be secured by a Mortgage Deed and Note.
10. Final payment of the committed Transformation Loan must be disbursed by the title
company by no later than six months after the date of lender's closing.
Please be informed that financial data shall be submitted to the Lender for purposes of this
loan application. However, the fact that you apply for a Transformation Home Loan, the final
loan amounts are considered public data according to Minnesota Statute Chapter 13.
General Remodeler and Design Criteria:
Thc HRA does not recommend any particular remodeler. Selected remodelcrs must
complete a Rcmodeler Form, and comply with the general critcria cstablished by thc
Monticcllo lIRA. "Sweat equity" may bc applied toward eligibility costs associated with
interior improvements such as painting, Hooring, etc. or by a Minnesota Licensed Residcntial
Contractor and when verified by a certificd appraisal at the applicant's expense.
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Summary of Remodeler ReQuirements
It is the homeowner's rcsponsibility to check on contractors thoroughly before selecting them.
Your builder should:
I. Demonstrate financial capability by providing a statement from a financial institution of
sufficient construction capital.
Possess adcquate Builder's Risk, Comprchensive Gencral Liability and Worker's
Compensation insurance coverage.
Have a written warranty policy to be sharcd with the homeowner or written evidence
of commitmcnt to pcrform warranted repairs required by the Minnesota Statc Statute.
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If thc remodeler has not participated in the Transformation Home Program previously, the
lIRA will require a RemodelerForm to be completed. A form is attached.
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Summarv of Housing Design
The liRA will require the following:
1. Each home shall remain a detached single-family dwelling.
2. Each home shall be owner-occupied.
3. Garage spacc may bc maintained or expanded, but not reduccd.
4.
The house building lines, roof lines, doors and window placement should minimize
blank wall mass. House and garage orientation to the street must prcsent a balanced
and pleasing view from all sides.
5.
Exterior materials should be low maintenancc. Masonite type siding materials are not
acceptable.
6.
The sitc must be fully landscaped, including attractively placed foundation plantings
and complete sod installation, lot linc to lot line.
7.
Adjoining propcrties must not be disturbed by the construction process. Construction
planning is important since five foot sidc yard sctbacks limit construction space.
8.
The construction process, site grading, and the finished structure must improvc or not
havc a detrimental impact on storm watcr drainage patterns in the neighborhood. Re-
working an existing site grade to improve neighborhood drainage may be requested.
If a roof is pitched towards neighboring homes, gutters may need to be installed to
divert storm water, in addition to improved grading.
5
Economic Development Director
Phone: (763) 271-3208
Fax: (763) 295-4404
E-mail: ollie.koropchak(iz.ci.mr~nticello.mn.us
DEVELOPMENT SERVICES
--
Housing and Redevelopment Authority
in and for the City of Monticello, Minnesota
MONTICELLO
TRANSFORMA nON HOME APPLiCATION FORM
General Information:
Name(s) ofOwner(s) (as they appear on title)
_..-._.~,-~~~-~"._-_.--
Present Address
-,._-,_.._.~-,~,~~._...----"-,.....--------',~"-"'_.._..-
Phone Number(s) _._
Puture Address (if buying to remodcl),
-"~,....---------._.-"'-'~,._~-~,._,."-
Remodeling Information:
Description of improvements to be done __
"-,.....-----------,._"~.,-"'_.,.-
---,_.,._.-"-,-,--,._.~-~.........-------~..,_..~~_.....---'~"-~~-
.
-~~......------"-,-~.,._'-,....--------'~~'-'-"--_.
,......--------'....-------"~-.__-.._J~--"---'-..-,.,--
When do you plan on remodeling?
Name of Architect or Designer
Name of Remodeler
Attach a list of contractors if a general contractor is not being used.
.-,--......-------"
-~,-,-----'~-,-'_.,-'_.,--".-
Financing Information:
Estimated amount of contract $ __~
Appraised value of property upon completion (if lender financed) $-
Name of Lender
_......--------"-'- ,.,--
Type of financing (second mortgage/refinance/home equity line, etc.) ---------
Anticipated closing date _. ---. --
Source of financing ifnot lender financed __---. .._----
Requirements for a complete application
Check orf all that apply; provide explanation fix those not completed.
__.__ A eopy of the cost estimate(s) and description of improvements is attached.
__ Building plans are attached (both floor plans and exterior elevations).
__ Site plan is attached (fcw additions that require crawl space or foundation).
__ Ready to schedule a pre-remodeling condition evaluation (arranged by the Monticello HRA).
. Please explain if an item is not checked: .__.______-----.-
Monticello City Hall, 505 Walnut Street, Suite 1. Monticello, MN 55362-RR3] . (763) 295-2711 . Fax: (763) 295-4404
Office or Public Works, 909 Golf Course Rd., Monticello, MN 55362 . (763) 295-3170. Fax: (763) 271-3272
Transformation Home Application Form
. Page 2
Send cOlnpleted application and attachments to:
Monticello I-IRA
50S Walnut Street, Suite 1
Monticcllo, MN 55362
Attention: Ollie Koropchak
To the fullest extent pcrmitted by law, thc Homeowner agrees to defend, indcmnify and hold harmless the
HRA and thc City of Monticello, their officers, agents and employees from and against all claims, loss,
damage, costs and expense arising from bodily or personal injury or sickness, illness, or death of persons or
damagc to property rcsulting from or allcged to have rcsultcd from the Remodeler's work and opcrations.
Owner
Owner
Date
Date
.
.
T r<1l1Sronnatiollappli~i.llion, 1'01"111
DEVELOPMENT SERVICES
Economic Development Director
Phone: (763) 271-3208
Fax: (763) 295-4404
E-mail: ollie.koropchak(il;ei.ll1onticello.mn.us
-" .--. .-- ._" .--- .-..-
--
Housing and Redevelopment Authority
in and for the City of Monticello, Minnesota
MONTICELLO
TRANSFORMATION HOME - REMODELER FORM
Business Namc:
_.-'._-~ .-,-,......-------'._,~"~,--'~'-~-"-
Phone No.: Fax No.:
_",_,,~__..-,-- _._~."._r~-'.-"'_.'.~'_.---
E-Mail:
._",-_.,,-,.,-,,~-
Busincss Address:
-_.'........-------.~-----'"
_......-------"'-,._~"-~~
Contact Pcrson:
-_......--------'"._,--,....--------.."-,-"~._,.~~-"'_.,-~._.,-
.
1.
How many years has your company becn in business? ------------
2. In the past three years, what has becn the avcragc number of homcs your company has
remodeled pcr year? _ ---
3. In the past thrce ycars, what has becn thc avcrage remodeling contract price by your company?
-,._,~,.-.~",,~
4. Attach copy of your company warranty policy.
Yes
No
-~......-----........--------'~'-~
5. You agree that you havc the ability, at all timcs during the term of the Remodeling Contract, to
havc and keep in force the following minimum insurancc coverages:
.
COVERAGE:
Workers Compensation
Employer's Liability
Comprchensive General
Indcpendent Contractors
Products/Completed
Contractual Liability
LIMITS:
Statutory
$300,000 131 & PD
Includcd
Included
Includcd
Included
Monticello City Hall, 505 Walnut Street, Suite I, Monticello, MN 55362-8!:\31 . (763) 295-2711 · Pax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362' (763) 295-3170' Fax: (763) 271-3272
Transformation Loan - Remodcler Form
. Page 2
Personal Inj ury Liabi I ity
"XCU" Liability (if applicable)
Broad form Property
Comprehensive Automobile
for owned, hired, and
automobiles
Included
Included
Included
$300,000 Bl & PO
6.
You meet Minnesota state licensing requirements. Yes
No
7. Please list at least three municipalities in whieh you have seeured remodeling permits within the
past 3~5 years and indicate the name ofthc City staff person (building offieial or other) with
whom you had the most contact.
1.
2.
--,~~.....------'~,._~
3.
8.
Provide names, addrcsses and telephone numbers of at least five customer rcferences that we
may contact as references.
.
1.
2.
_.._.'._.__.'-~'~'~~.
"
-'-
4.
5.
.,_.-,~-_....----'-~'--'~'--
9. Provide names, addresses and telephone numbcr of at least three major suppliers or sub-
contraetors that we may contact as references.
1.
2.
~_.--,--~'
.--.-.--.-,----"....------..-..-
_._~~_......--------'-.
-_.,~-_.~~_.,-'-
"
_1.
.-.,_.-,-,--,-,_.--_._-~'--,._"....------....----------,._.....----',_.~-
The information contained on this form may be provided to \enders, homeowners, and others interested
in participating in Monticello Remodeling Programs.
By'
. ~_.......-------'~,_~,_.__-__~_'_M'._..'-
Its:
_._,_~_,_,,_~_....------.--"_J._.-
.
Date:
~,_.",_,._._",__._J--"._'_.'._'.-
Rcmoddcr. limn
DEVELOPMENT SERVICES
Economic Development Director
Phone: (763)-271-3208
Fax: (763)-295-4404
E-mail: 9.lEe.koropehak(ii.ci.monticello.mn.us
-,-..-.- - -., -.-'-.-
Housing and Redevelopment Authority
In and for the City of Monticello, Minnesota
MONTICELW
TRANSFORMATION HOME LOAN COMMITMENT/DISBURSEMENT
Complete Application:
Remodeling Advisor Letter ___
Builder Requirements and Summary of Design -----
Loan Application Form __-
Remodeler Form
Pre-Remodeling Condition Report requircd by HRA.
~--------------,-
Commitmcnt Letter from Lcndcr.
Remodeling and Site Plans reviewcd.
Building Permit issucd.
-~~,-"-'-~--'
. HOUSING AND REDEVELOPMENT AUTHORITY COMMITMENT OR NON COMMITMENT:
LOAN NUMBER:
BORROWER:
-,_.~~~
ADDRESS or SITE:
MAILING ADDRESS:
TOTAL PROJECT COST:
LOAN AMOUNT:
_....--------~~'-'
LOAN RATE: Interest Free LOAN PAY ABLE UPON SALE OF PROPERTY OR FORGIVEN
AFTER SEVEN (7) YEARS FROM LENDER'S CLOSING DATE or ______---,20 "-'
rEE NO COST TO HOME OWNER OR HOME BUYER.
COMMITMENT:
YES
NO
.-..--------......---------....------------..-.-
,-~,-,~,--,-~-"...----."_.-
.-...-------.-,~'_.-'-
,~---_.~-_._--
......---------.--.--
A motion was made by HRA Commissioner __--- to approve a
(commitment _ no commitment) of Monticello Transflmnation Homc Loan Funds in the amount of
_---- to home owncr/buyer
_____-- ._ this __ day of____--, ----.
Seconded by liRA eommissioner _------------------.
YEAS:
NAYS:
ABSENT:
.
Transfl)fmation Home Loan disbursed ___-.-- ' ___' by Check No. -------
to __-----.----.-- HRA Treasurer ------.-.---
Monticello City Hall, 505 Walnut Street, Suite 1, Monticello, MN 55362-8831 . (763) 295-2711 . Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362 · (763) 295"3170 . Fax: (763) 271-3272
DEVELOPMENT SERVICES
Economic Development Director
Phone: (763) 271-3208
Fax: (763) 295-4404
E-mail: ollie.koropchak(ivci.ll1onitccllo.mn.us
MONTICELW
Housing and Redevelopment Authority
in and for the City of Monticello, Minnesota
TRANSfORMATION HOME LOAN
PRE-REMODELING CONDITION REPORT
The Pre-Modeling Condition Report is a summary of the assessment conducted by the Monticello
Building Department. Thc assessment for the purpose of satisfying the "structurally substandard"
requircments as defincd by Tax Increment Financing Law, 469.174. The structure was assessed for its
physical clements as it relates to structural soundness (size, type, and age of building) or dcficieneies in
basic building and encrgy codes such as but not limited to essential utilities and facilities, light and
ventilation, firc protection including adequate egress, layout and condition of intcrior walls.
Property located at ..
by _~_
Owner
Monticcllo, MN, revicwed
,20
on
PID#
.
Summary of Assessment and see attached spread sheets:
\0 _ ~ ~.Jld
~- }.9.. \J \
\rY~
~"'Q~t
Q~
.
Said property meets the requirements of the Tax Increment Financing Law, 469.174. ___ Yes
No. Estimated Market Value
Monticello City Hall, 505 Walnut Street, Suite I, Monticello, MN 55362-8831 . (763) 295-2711 · Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362. (763) 295-3170. Fax: (763) 271-3272
.
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CITY OF BONITA SPRINGS
ANNOUNCES THAT
FUNDS ARE NOW AVAILABLE
AND
HOME IMPROVEMENT
APPLICATIONS
ARE BEING ACCEPTED
.
The City of Bonito Springs olong with Lee County Deportment of Humon
Services is now occepting pre"opplications through our Home
Improvement Program for low and moderate income families with a
preference given to Elderly (62 years) or disabled homeowners with
property in the City of Bonita Springs. The Home Improvement Program
is funded through the Department of Housing & Urban Development
(HUD) Community Development Block Grant Program. The program is
designed to assist homeowners with repair or replacement of major
housing components, which have failed or are in danger of foiling.
Examples are leaking roofs, dangerous electrical systems, bad plumbing,
etc.
Under this program, the City will provide on outright grant of up to 67%
of the rehabilitation cost with a not to exceed amount of $5000. A
mortgage will be placed on the home for a specified period with no
monthly principal or interest payments. The mortgage is self-amortizing
and becomes fully satisfied upon completion of the mortgage period.
Should the property be sold or title transferred during the mortgage
period, the homeowner will be required to pay back a pro-rated amount
of the balance; otherwise no repayment will be required. Applications
will be taken on a first come"first served basis.
Qualifications for this program are based on family income guidelines
which do not exceed the limits set forth by HUD as shown below:
FAMILY SIZE
1
2
3
4
5
6
7
8
INCOME LEVEL NOT TO EXCEED
$30,300
34,600
38,950
43,300
46,750
50,200
53,650
57,150
.
The homeowner should be current on all mortgages, garbage bills,
property taxes, and any other special assessments.
For odditional information or for pre "application, call Ken Hoffman,
Community Project Coordinator at (239) 390" 1 000.
City of Bonita Springs
9220 Bonita Beach Road
Suite 111
Bonita Springs, Florida 34135
-
~c.<l.......o ~
~\, ~~ .
~1~
.
.
.
HRA Agenda - 12/01/04
7.
Consideration to review desil!n sketches for marketing: core city develooment and the
Transformation Loan Program.
A. Reference and Backl!round:
At the November meeting, the HRA commissioners agreed to move forward with the
Transformation Loan Program commencing January 2005. The commissioners also requested
marketing concepts be presented at the December meeting.
I met with Lynne Dahl, Design for Print, on November 9, 2004. I presented ideas and
Monticello information for a brochure patterned off the concept used by Richfield. Lynne was
asked to get photos from Jeff O'Neill and prepare sketches for the commissioners to review at
their December meeting. Lynne unable to get the photos via a CD until November 22, may not
have anything ready for the agenda pack, in which case, the sketches will be presented at the
meeting. The HRA's cost for the prepared sketches is $150.
The concept for the brochure is actually marketing the core city of Monticello for development
using a map identifying amenities within the core area and newly constructed housing options.
Concept: Why remodel or construct in the core city? Additionally, the Transformation
Program is marketed. This brochure could be used by lenders, real estate agents, builders, and
a great tool to spur energy for downtown redevelopment.
Based on the recommendation of Paul Kleinwachter, First Minnesota Bank, a summary of the
Transformation program was prepared (previous agenda item). It is my thought, the summary
and brochure would be mailed to owner-occupied residents within the core area.
Review and discuss design sketches at the meeting for recommendation.
.
.
.
HRA Agenda - 12/01/04
8.
Consideration to discuss term expiration dates of HRA Commissioners.
At the November HRA meeting, Commissioner Fair asked to research the terms of the HRA
commissioners for discussion in December. As you recall, at the llrst meeting in January of
each year, the Council appoints or, in most cases, re-appoints the commissioner whose term
expires in Decembcr to anothcr five-year tcrm. Per the City records, here are the terms ofthc
liRA commissioners:
Commissioner
Brad Barger
Darrin Lahr
Bill Fair
Stcvc Andrews
Dan Frie
Term cxpires
12/2004
12/2005
12/2006
12/2007
12/2008
Although the HRA will meet prior to the January 10 Council meeting, please discuss for
direction. As you can see, Brad Barger's term is up. Brad, will you consider another five
years? It is assumed, the other commissioners will serve-out their term. Secondly, the lIRA
will be appointed a new Liaison by the Council in January.
Please discuss ft)f direction.
Monticello HRA
505 Walnut Avenue, Suite 1
Monticello, MN55362
.
November 11, 2004
Invoice # 23183
MC100-01
General
Professional Services
10/25/2004 MTR Work and meeting on industrial park
10/27/2004 MTR Work on industrial park model
Total Due This Month:
Status of Account:
Current
$343.75
30 Days
$62.50
60 Days
$0_00
90 Days ___
$0.00
.
\-\~\tG~~ ~~--
()}( f() Pl~\Y?_ olll~~
Code: __?~oL\ ~~~
$LJ.--"
Jqjtial
.~,~_...".,._."~._,-"""",,-~"''''
Hours Amount
1.75
1.00
218.75
125.00
2.75 $343.75
120+ Qays
$0.00
Total
$406.25
\:Jt\ "- V' ~
'0~C~~,,-
PLEASE KEEP WHITE COpy FOR YOUR FILE AND REMIT PINK COPY WITH PA YMENT TO:
.
.
EHLERS
& ASSOCIATES INC
3060 Centre Pointe Drive
Roseville, MN 55113-1105
651.697.8500
.
.
.
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
Tax 10 No. 41-1225694
November 19, 2004
Statement No. 63913
City of Monticello
Accounts Payable
505 Walnut Street, Suite 1
Monticello, MN 55362
Through October 31, 2004
MN190-00101 General HRA Matters
, .. "ft'!
~. .., ,tl3.a1. _...~
,...--- '
':l\.~.
MN190-00116 Transformation Home Loan Program ~. 'Ii.JIlI. }u-Iu
M N 190-00117 Otter Creek I ndustrial Park ,.. I 3 . ~'I (,!, 0 L ,",0 ~ <)
I declare, under penalty of law, that this
account, claim or demand is just and correct
and that no pa of it has been paid.
OK TO PAY? ~
Code:
Initial
<-\~ S? '2.. -?o'-t~
108.00
? \ 3 . L\ \., s? -:>. . -c. c '\. ~
135.00
;).oI:>Y'~ {)(,,4,
270.00
Total Current Billing:
513.00
.
.
.
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
41-1225694
November 19, 2004
Invoice # 63913
City of Monticello
Accounts Payable
505 Walnut Street, Suite 1
Monticello, MN 55362
MN190-00101
General HRA Matters
Through October 31,2004
For All Legal Services As Follows: Hours
10/21/2004 SJB Review Home Loan program, research authority, for same. 0.60
Total Services :
$
Total Services and Disbursements: $
Amount
1 08.00
108.00
108.00
.
.
.
Page: 2
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
City of Monticello
October 31, 2004
MN190-00116 Transformation Home Loan Program
Through October 31,2004
For All Legal Services As Follows:
10/25/2004 SJB Meet with O. Koropchak, R. Wolfsteller re: Home Loan
program.
10/29/2004 SJB Emails to/from O. Koropchak re: home loan terms.
Total Services:
Hours
0.50
0.25
$
Total Services and Disbursements: $
Amount
90.00
45.00
135.00
135.00
.
.
.
Page: 3
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
City of Monticello
October 31, 2004
MN190-00117 Otter Creek Industrial Park
Through October 31,2004
For All Legal Services As Follows:
10/25/2004 SJB Meet with O. Koropchak, R. Wolfsteller.
Total Services :
Hours
1.50
$
Total Services and Disbursements: $
Amount
270.00
270.00
270.00
.
10.
a)
b)
c)
d)
e)
f)
.
g)
h)
i)
j)
.
ARA Agenda - 12/01/04
Consideration of Executive Director's report.
Standard Iron - The closing of the Standard Iron property to Walbord, Inc., fridley, was
scheduled to take place on November 1 S, 2004. Their attorney drafted a Consent and
Release relative to the Contract for Private Development for TIF District No. 1-13. This
district has been decertified, closed, and excess tax increment returned to the County.
Attorney Bubul did review prior to my execution.
Certification of Decertified TIF Districts - The County Auditor confirmed and returned the
certifications for the five TIf districts decertified in 2004 which were than forwarded to the
State Auditor.
Muller Theater - I have had two inquiries of interest in the vacated theater downtown.
WSIIndustries. Inc. - The IDC is hosting a tour and welcome of the WSI facility on Tuesday,
December 7, at 8:00 a.m. All HRA commissioners are welcome.
Production Stamping, Inc. - On November 12, I dropped on the wcleome plaque from the City
of Monticello which was dated April 2003. I've continuously attempted to schedule a welcome
and tour of the facility with owner, Les Wurm, but have been unsuccessful.
Otter Creek Crossing - The Council approved the preliminary and final plat for Otter Creek
Crossing on November 22,2004, with a closing date of December 7,2004. The plat was
approved without an access easement via the Haul Road. Staff thinks the city can get the
easement upon development of Outlot F. The City Attorney added if the road was critical to
the City and prior to development of Outlot F, the City could consider eminent domain.
Otter Creek Business Campus - The city request for zoning of the 120 acres is on the Planning
Commission agenda of December 7 and the City Council agenda of December 13. The
proposed covenants will also be presented at the Council meeting.
Marketing Committee - I need to schedule a meeting. I've done some research on the web for
potential advertisement options. I've also asked Lynne Dahl and Michelc I lartwig for ideas.
Also have name of someone more in puhlic relations field. At the meeting, the committee needs
to decide on an advertising budget and plan for submission to Ken Stabler, Xcel, by the 15th of
December.
BRE - Sunny Fresh office building exterior looks great. The IDe will hold a meeting there when
completed. Suburban and Tire Service Equipment expansion moving along. Need to check
with Tapper about lease out space.
Lcads -
Dahlheimer Distrihution pending County Road 18 Interchange.
30,000-50,000 sq ft mfg/oflice facility - manufactures hi-tech pumps including medical pumps
for Boston Scientific. Big Lake offer $1 per acre. Meeting with realtor on Deccmher 3.
50,000 sq n distribution with 6,000 sq it officc. National company looking to lease. From two
different real estate agents. Gave Tapper's number and Ron/Dee Johnson address.
28,000 sq It manufacturing facility - Looking at Hanover. Monticello too far out.
.
CONSENT AND RELEASE
This Consent and Release ("Consent and Release") is dated as of November ~, 2004
by the Housing and Redevelopment Authority in and for the City of Monticello, Minnesota, a
Minnesota body corporate and politic ("Authority").
R E C I TAL S:
A.
Authority conveyed the real property legally described as Lots 7 and 8, Block 2,
Oakwood Industrial Park, Wright County, Minnesota ("Redevelopment Parcel")
to Demeules Family Limited Partnership ("Demeules") by Quit Claim Deed dated
September 27, 1993, filed of record September 30, 1993 as Document No. 536468
COeed").
.
B. The Deed provides that the Redevelopment Parcel is subject to covenants,
conditions and restrictions as provided in that certain Contract for Private
Redevelopment dated September 27, 1993 ("Redevelopment Agreement") as set
forth in the Deed.
C. A Certiticate of Completion has been issued as provided in the Redevelopment
Agreement, and Demeulcs desires and intends to transfer a portion ot' the
Redevelopment Parcel to Para, LLC, a Minnesota limited liability company.
NOW THEREFORE, in consideration of the foregoing, Authority hereby consents to
the transfer of the real property legally described as t'ollows to Para, LLC ("Transfer Parcel"):
r ,ot 8 and that part of Lot 7 West of the East 207.62 feet of said Lot 7,
Block 2, Oakwood Industrial Park, according to the recorded plat
then:;oL Wright County, Minnesota,
and hereby releases Demeules from further pert"l.mnance obligations of Demeules pursuant to the
Redevelopnlent Agreement with respect to the Transfer Parcel; and Authority hereby waives the
requiretnents that Detneu!es provide to !\uthority wri tten evidence of transfer of the 'T'ranslcr
Parcel to Para, 1,[ ,C and that Para, LL(~ expressly assumes Demeules's obligations pursuant to
. the Redevelopment Agreement with respect te> the Translcr Parcel.
.
.
.
IN WITNESS WHERli~OF the Authority has duly executed this Consent and Release to
be effective as of the date first written above
HOUSING AND REDEVELOPlVIENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO,
MINNESOTA
fly ~ ~~h~ \~0'\O ~S)~
[ts Executive Director
STATE OF MINNESOTA )
) SS.
COUNTY OF WRIGHT )
/C y.- i(
" Theloregoing instrument is acknowledged before me this) t-? day of
>>()'YcJt!",v,th r ,2004 by Ollie Koropchak, the Executive Director of the Housing and
Redevelopment Authority of the City of Monticello, Minnesota, a public body politic and
corporate, on behalf of the Authority.
) .
//--;::7;/4>//' J//~.2>~~{
I/LJ--/icLLLd" dJ/ ..~ / t" /'
Notary Public -, -
THIS INSTRUMENT WAS DRAFTED BY:
MOSS & BARNETT (PBZ)
A Professional Association
4800 Wells Fargo Center
90 South Seventh Street
Minneapolls, MN 55402-4129
Telephone: (612) 347-0300
72330c[v2
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