IEDC Meeting Minutes - 05/07/2024MINUTES
INDUSTRIAL & ECONOMIC DEVELOPMENT COMMITTEE (IEDC)
Monday, May 7, 2024
7:00 a.m. at Monticello Community Center
Members Present:
Chairperson Luke Dahlheimer, Vice Chairperson Jarred Merchant, Sam Murdoff, Eric
Olson, Darek Vetsch, Wayne Elam, Andrew Tapper, Randy Skarphol, Rob Stark,
Tony Velishek, Cory Ritter, Liz Kokesh
Members Absent:
Sarah Kortmansky, Joni Pawelk,
Liaisons Present:
Marcy Anderson
Jolene Foss —Joined at 7:42 a.m.
Darek Vetch left at 8:00 a.m.
Liaisons Absent:
Dave Tombers, Tim Zipoy
Staff Present:
Jim Thares, Rachel Leonard
1. Call to Order
Chairperson Luke Dahlheimer called the regular meeting of the Monticello IEDC to order at 7:06
a.m.
Approve Minutes:
ANDREW TAPPER, MOVED TO APPROVE THE SEPTEMBER 26, 2023, REGULAR MEETING MINUTES.
ROB STARK SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY.
Consideration of Adding Items to the Agenda:
None
1. Regular Agenda
A. Table Topic — Commercial
Wayne Elam, Commercial Realty Solutions, gave a presentation of office, retail,
restaurant, commercial, and industrial properties pricing trends and available locations.
Commercial land sale is estimated and sold by square foot. There are 43,560 square feet
per acre. Mr. Elam pointed out that a lot which sold 10 years ago sold for $10.50/sq ft. 4
years later it sold for $12/sq ft. The same property was purchased for $7.50/ sq ft. Land
sales are not reflective of inflation but rather supply and demand which Monticello has
an inventory of land.
Recently a 10.5-acre industrial lot was sold in Albertville for $6/sq ft in comparison to
roughly $1/sq ft on the interstate in Monticello.
Because of the geographic location of Monticello, it is not conducive to being a
distribution center.
Mr. Elam presented a list of CRS commercial sales from 2013 to current.
2. liaison Updates
A. Wright County Economic Development Partnership (WCEDP)
Jolene Foss, WCEDP Executive Director provided an update.
• Legislative Update 6/27
• Maple Lake Business Expo — May 16th
• CEO Trade — May 22nd
• Capacity Building Seminar — June 6th
B. Chamber of Commerce
Marcy Anderson, Chamber of Commerce Director gave an update.
• Chamber of Commerce Director Marcy Anderson provided an update.
• Golf Tournament on May 16th
• 9 new Chamber members this year, 331 total
• Candidate Forum set for October 21
• Riverfest July 12-14
• Puzzle-Palooza - October 5th
C. Economic Development
Jim Thares, Economic Development Manager provided an update.
• Project Update
• Prospect List
• May 7, Planning Commission Agenda
D. City Council Update
Rachel Leonard, City Administrator, presented current projects and actions of the City
Council including payment of bond, various project improvements, trunk and public
improvements for Featherstone 6th addition, Local Option Sales Tax presentation to
public, $1 million grant awarded to the city for CET and several concept presentations.
3. Next Meeting Reminder— Date: Tuesday, June 4, 2024 -as per new meeting schedule
4. Adiournment (8:00 a.m.)
Rob Stark made a motion to adjourn the meeting. Meeting adjourned by consensus (8:00 a.m.)
Recorder: Vicki Leerhoff
Approved: June 4, 2024
Attest:
James Th s, Economic Development�/Ianager