EDA Agenda - 12/11/2024AGENDA
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, December 11, 2024 — 6:00 p.m.
Mississippi Room, Monticello Community Center
ECONOMIC DEVELOPMENT AUTHORITY SPECIAL MEETING
Academy Room
4:30 p.m. GMEF Pre -Application Review — Nordic BrewPub Proposal
5:00 p.m. Discussion -Formulation of 2025-2027 EDA Workplan with
Worksheet
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, Sarah
Rathlisberger, Tyler Bevier
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 Regular Meeting Minutes— October 9, 2024
C. Consideration of Wright County Economic Development Partnership (WCEDP) 2025
Annual Membership Dues
4. Public Hearing
A. None
5. Regular Agenda
A. Consideration of Proposed 2025 Broadway Parking Easement Funding Allocation
6. Other Business
A. Consideration of Economic Development Manager's Report
7. Adjournment
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2002 — Securing UMC to construct 72,000 sq. ft facility
2004 — WSI Industries, Inc.
2007 — Washburn Computer Group
2007 — WRI Properties
• Active involvement in the 1997 Downtown Plan - resulting in the establishment of the
Downtown TIF District and creation of the Central Community District, and developments
Like the Cub Foods project, MCC, Landmark Square project and Town Centre.
• Establishment of the Otter Creek Industrial Park- building a legacy for the creation of jobs
and tax base in Monticello.
• Building senior and affordable housing options including those at Mississippi Shores, St.
Benedict's, Drake's Court and Vine Place.
• Other industrial development: Aroplax, Karlsburger Foods
• Development of the Greater Monticello Enterprise Fund, assisting countless businesses in
their growth goals in Monticello
Accounts Payable
Transactions by Account
User: julie.cheney
Printed: 11/07/2024 - 8:53AM
Batch: 00202.11.2024
Account Number
Vendor Description
e
Onticeflo
GL Date Check No Amount PO No
213-00000-155020 BITCO INSURANCE COMPANIES Prepaid Work Comp Ins 10/24-10/25 11/13/2024 129245 2,140.00
Vendor Subtotal: 2,140.00
213-46301-415100 BITCO INSURANCE COMPANIES Work Comp Ins 10/24-10/25 11/13/2024 129245 714.00
Vendor Subtotal: 714.00
213-46301-435100 ECM PUBLISHERS INC PH 149 West Broadway - Ad# 143084 11/13/2024 0 166.50
Vendor Subtotal: 166.50
Subtotal for Fund: 213 3,020.50
Report Total: 3,020.50
AP -Transactions by Account (11/07/2024 - 8:53 AM) Page 1
Accounts Payable
Transactions by Account
User: julie.cheney
Printed: 11/22/2024 - 8:42AM
Batch: 00204.11.2024
Account Number
Vendor Description
e
onticeflo
GL Date Check No Amount PO No
213-46301-430400
KENNEDY AND GRAVEN CHAR] Facade Forgivable Loan Program - Sel 11/26/2024
129324
60.00
213-46301-430400
KENNEDY AND GRAVEN CHAR] Project Maxwell Economic Developn 11/26/2024
129324
931.50
213-46301-430400
KENNEDY AND GRAVEN CHAR] General EDA - Sept 2024 11/26/2024
129324
391.00
213-46301-430400
KENNEDY AND GRAVEN CHAR] Project V -Sept 2024 11/26/2024
129324
805.00
213-46301-430400
KENNEDY AND GRAVEN CHAR] GMEF Loan - Rustech - Sept 2024 11/26/2024
129324
168.00
213-46301-430400
KENNEDY AND GRAVEN CHAR] Block 52 Redevelopment - Sept 2024 11/26/2024
129324
840.00
Vendor Subtotal:
3,195.50
213-46301-431990
JACKSON GROSKREUTZ EDA Meeting Recording 11/13/24 11/26/2024
129317
225.00
Vendor Subtotal:
225.00
213-46301-434990
AE2 - ADVANCED ELEMENTS, R IMCP Templates - Oct 2024 11/26/2024
129301
412.75
Vendor Subtotal:
412.75
213-46522-443991
BLOCK 52 HOLDINGS LLC Disbursement #1 - Funding EDA Auth 11/26/2024
129305
212,660.00
Vendor Subtotal:
212,660.00
213-46534-443991
BLOCK 52 HOLDINGS LLC Disbursement #1 - Funding EDAAuth 11/26/2024
129305
77,340.00
Vendor Subtotal:
77,340.00
Subtotal for Fund: 213 293,833.25
AP -Transactions by Account (11/22/2024 - 8:42 AM) Page 1
Account Number
Vendor
Description
GL Date Check No
Report Total:
Amount PO No
293,833.25
AP -Transactions by Account (11/22/2024 - 8:42 AM) Page 2
Accounts Payable
Transactions by Account
User: julie.cheney
Printed: 11/15/2024 - 4:09PM
Batch: 00201.11.2024
Account Number Vendor Description
CITY OF
•
onticeflo
GL Date Check No Amount PO No
e
213-46301-438200
CITY OF MONTICELLO 7256-004 - 130 Brdwy- Stormwtr
11/15/2024
0
31.50
213-46301-438200
CITY OF MONTICELLO 7256-015 - 216 Pine St - EDA
11/15/2024
0
52.61
Vendor Subtotal:
84.11
213-46301-443990
US BANK CORPORATE PMT SYS DOMINOS - Food Special Mtg - EDA
11/15/2024
0
34.27
213-46301-443990
US BANK CORPORATE PMT SYS STYLE CATERING - Caterer - Manui
11/15/2024
0
2,167.98
213-46301-443990
US BANK CORPORATE PMT SYS MONTICELLO CHAMBER OF COX
11/15/2024
0
35.00
Vendor Subtotal: 2,237.25
Subtotal for Fund: 213 2,321.36
Report Total: 2,321.36
AP -Transactions by Account (11/15/2024 - 4:09 PM) Page 1
Accounts Payable
Transactions by Account
User: julie.cheney
Printed: 12/03/2024 - 7:35AM
Batch: 00203.11.2024
Account Number Vendor Description
CITY OF
•
Onticeflo
GL Date Check No Amount PO No
e
213-46301-431991 DEMVI LLC Parking Lot Maintenance - Nov 2024 11/30/2024 0 213.86
Vendor Subtotal: 213.86
213-46301-438100 CENTERPOINT ENERGY 12045691-8 - 216 Pine St 11/30/2024 0 18.37
Vendor Subtotal: 18.37
213-46301-438100 XCEL ENERGY 101 E 3rd St (216 Pine St) - formerly I 11/30/2024 0 19.26
Vendor Subtotal: 19.26
Subtotal for Fund: 213 251.49
Report Total: 251.49
The preceding list of bills totaling $299,426.60 was approved for payment.
Date: 12/11/24 Approved by:
Hali Sittig - Treasurer
AP -Transactions by Account (12/03/2024 - 7:35 AM) Page 1
MINUTES (DRAFT)
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, October 9, 2024 — 6:00 p.m.
Academy Room, Monticello Community Center
ECONOMIC DEVELOPMENT AUTHORITY SPECIAL MEETING
Academy Room
4:45 p.m. Review and Discussion of Tax Abatement Pre -Application — Twin
Pines Multi -Family Proposal
5:15 p.m. Review and Discussion of Proposed Downtown Facade
Improvement Forgivable Loan - Monticello Family Dentistry
5:40 p.m. Review and Discussion of Proposed Downtown Facade
Improvement Forgivable Loan — Mattress Store
Commissioners Present: President Steve Johnson, Vice President Jon Morphew, Treasurer
Hali Sittig, 011ie Koropchak-White, Rick Barger, Tracy Hinz, Mayor
Lloyd Hilgart
Commissioners Absent: Lloyd Hilgart excused himself at 7:14 p.m. for a MOAA meeting.
Staff Present: Executive Director Jim Thares, Community Development Director
Angela Schumann, Community and Economic Development
Coordinator Tyler Bevier
1. General Business
A. Call to Order
President Steve Johnson called the regular meeting of the Monticello EDA to order
at 6:00 p.m.
B. Roll Call 6:00 p.m.
Mr. Johnson called the roll.
2. Consideration of Additional Agenda Items
A. Mr. Johnson indicated that the EDA should add an item at the beginning of the
regular agenda related to the Facade Improvement Forgivable Loan Proposal for
the Sleep Concepts Mattress Store located at 149 West Broadway.
3. Consent Agenda
A. Consideration of Payment of Bills
B. Consideration of Approving Regular Meeting Minutes —August 14, 2024
C. Consideration of Approving Joint Workshop Meeting Minutes — September 16,
2024
MAYOR HILGART MOVED TO APPROVE THE CONSENT AGENDA. HALI SITTIG
SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 7-0.
4. Regular Agenda
A. Added Item — Monticello Dental Clinic (201 West Broadway) — Facade
Improvement Forgivable Loan Pre -Application Review and Discussion
Economic Development Director Jim Thares gave an overview of the forgivable loan
proposal. There was not enough time in the Workshop meeting just prior to the
Regular meeting to do a pre -review of this proposal. Mr. Thares explained if the EDA
concludes that it is a worthy project, the EDA attorney can prepare the various loan
documents (loan agreement, promissory note, security agreement, etc.) for a formal
consideration in an upcoming meeting. The target date for the final consideration
would be the October 23rd regular meeting. The application in the packet is
complete. It was noted that all four walls are proposed to be stained with the classic
brick look with Walnut side door, and exterior signage will be updated. The specific
facade work consists of staining of the brick facade, concrete repairs to the base of
the building, a new door on Walnut Street and a refreshed awning.
Jim Thares explained that the project quotes for all the work items total $13,172.
The building owner -applicants are required to contribute 5% of the funding or $659
of the project cost. The fagade program currently has $150,003 available.
The applicants were invited to the podium for any additional information. Christian
Block and Steve Bjorn of Monticello Family Dentistry spoke about the repairs to the
building in the past including signage and tuckpointing. The building is estimated to
be over 110 years old.
Councilmember Tracy Hinz appreciated the individual staining of each brick element.
Steve Bjorn spoke about the desire to keep the classic red brick color. Mayor Lloyd
Hilgart noted that the relocation of the power poles will happen soon which will
enhance the visual appeal from the alleyway.
Mr. Johson spoke about the history of the building and the need for a update and
was glad to see the building being maintained and indicated that he supports this
proposal. Mayor Hilgart asked if the rear awning is being refreshed or
reconstructed.
The applicant said they have had discussions with the City building department
about the proposal to refresh the awning versus a reconstruction. Steve Johnson
also asked about water runoff the back of the building. Steve Bjorn explained his
understanding about the water drainage off the building roof. Steve Bjorn indicated
that they hope to complete the work by late November or early December.
B. Consideration of Tax Abatement Pre -Application from Broadway Plaza in
connection with a proposed 76-room Grand Stay Hotel and a 10,000 square foot
Convention Center and a 4,500 square foot Restaurant
Jim Thares began with the pre -application overview for the Broadway Plaza hotel,
conference center and restaurant. Broadway Holdings is seeking financial assistance
for the property. As a pre -application this is not a full application, additional
information would be needed for further consideration. The development is
proposed on a 7.8-acre site located along 1-94 on the east edge of the city. The
proposal is projected to cost $21,168,000. The preliminary plat has been approved.
A tax abatement policy was approved by the City Council in 2023 as an economic
development tool similar to Tax Increment Financing (TIF).
Mr. Thares pointed out that this project is a slightly different from the Fairfield By
Marriott hotel as it has a 10,000 square foot convention center. He reminded the
EDA that the City Council approved the use of Tax Abatement for that project in late
July 2024. He further pointed out that it is the EDA's role to review proposals and
provide a recommendation to the City Council on Tax Abatement requests.
Mr. Thares referenced the EDA commissioned 2023 Hotel Study which recommends
the City provide financial support to attract an upper-midscale hotel to the City. The
hotel portion of the project is aiming to create 32 jobs, while the conference center
will create 22 jobs, and the restaurant is expected to create 27 jobs. The vintage
automobile museum is projected to create 4 jobs. That is a total of 85 jobs.
Mr. Thares pointed out there is anecdotal evidence that the Convention Center is a
community need. It and the vintage automobile museum will offer unique
attributes and may increase overall commercial activity in the City.
Mayor Hilgart asked what the hotel study implied as the need for more room
capacity in Monticello. Jim responded that the Study indicated that the City should
strive to attract a new upper-midscale hotel with 85 —100 hotel rooms to address
the findings that travelers are not staying here and choosing to stay in similar hotesl
in nearby communities along 1-94.
Mayor Hilgart asked how many units were approved with the Fairfield Hotel. Mr.
Thares said that hotel development proposal includes 98 rooms. Mayor Hilgart
asked if the market might be saturated based on the hotel study. Mike Schneider
introduced himself, and spoke about the hotel, event center, restaurant and
museum that is all part of the property. Mike Scheider stated that there is a great
deal of interest in the event center, with all the facility elements complementing
each other.
Mr. Johnson asked how a public subsidy can demonstrate the need in a market that
may be saturated. Mike Schneider responded that the event center changes the
demand and increases the need for the hotel rooms.
Mr. Johnson suggested that the applicant include more narrative and supporting
information about how the event center, restaurant and museum will increase
demand for hotel rooms.
Jon Morphew appreciated the event center aspect with the hotel and asked to see
more details in a formal application. Hali Sittig asked if the event center would
create a need for the hotel. Mr. Schneider stated that the event center would
contribute to the hotel. He also said that the brand Grand Stay has extended stay
rooms which is another draw.
Ms. Sittig asked about the security of their contract with Vita Bella restaurant. Mr.
Schneider stated that Vita Bella was keen on the site because of the event center.
Mr. Johnson summarized that there seems to be positive feedback among the EDA
for the applicant to move towards a formal application.
Council Member Tracy Hinz reviewed the requirements for the Tax Abatement and
felt that this project could meet all requirements.
Rick Barger spoke about the application pairing the four items together, the hotel,
museum, restaurant and event center. Mike Schneider clarified that the car
museum is geared towards tourism, and it is a small component of the proposal.
Ms. Sittig asked if there would be cars sold on site. Mr. Scheider said that there was
no intention of this to be a car dealership.
The consensus of the EDA is to recommend the developer continue to pursue the
application with answers to the inquiries posed by the Commission.
C. Consideration of Resolution 2024-20 authorizing an Amendment of the Block 52
Purchase and Development Contract with Block 52 Holdings, LLC, Buchholz
Exchange, LLC and Norgren Exchange, LLC
Mr. Thares opened the item asking for authorization of a First Amendment to the
Purchase and TIF development Contract to increase by $50,000 to a total of
$417,400 and provided an overview of the improvements from the parking lot to
landscaping and sidewalks.
Mr. Johnson asked if the funding is above what they originally expected. He further
stated that it recalls that proposed funding was not in the original agreement and
the developer is expected to cover all costs exceeding the original amount. Ms. Sittig
asked for justification for needing public subsidy from the applicant. Mr. Morphew
pointed out that costs are now 37% higher than 15 months ago. Mr. Thares stated
these are all fair questions and said staff would ask the developer to address those
questions.
HALI SITTIG MOVED TO TABLE THE ITEM. JON MORPHEW SECONDED THE MOTION.
MOTION CARRIED UNANIMOUSLY, 7-0.
D. Consideration of Requesting the City Council reimburse the EDA for paid Special
Assessments on the 14.16-acre parcel of land (PID # 155-282-000010) in connection
with the acquisition from Riverwood Bank in December 2023 and further to
continue to defer the 429 Special Assessments for an additional 10 years or until
the property is sold for development
Mr. Thares introduced the item. When the EDA purchased the Riverwood Bank site
along West 71h Street in December 2023, the 14.16-acre parcel (PID 155-282-
000010) had deferred special assessments against it which sunset in May 2023. The
assessments were for the extension of 7th Street West and site stormwater ponding.
As a part of the purchase, assessments were assumed with the intent of deferring
the payment until development.
Mr. Thares explained that the total special assessment amount is $553,828 and
carries an interest rate of 5.5%. The timing of the EDA purchase of the parcel in late
2023 occurred after the City had to certify the assessment roll for CY 2024. As a
result, the EDA paid the property taxes on the parcel in May 2024 as well as one
installment of the assessments. The assessment payment amount was $34,335.84
in principle and $127,185.66 interest.
The EDA is asked to approve and ask the City to reimburse the EDA for the 429
Special Assessment payment that was made in connection with the purchase
transaction for the 14.16-acre parcel of land along 7th Street West and further
request the City Council place the Special Assessment for the amount assumed from
Riverwood Bank into deferred status until the property is sold for development.
TRACY HINZ MOTIONED TO REQUEST THE CITY COUNCIL TO REIMBURSE THE EDA
FOR PAID SPECIAL ASSESSMENTS ON THE 14.16-ACRE PARCEL OF LAND (PID # 155-
282-000010) IN CONNECTION WITH THE ACQUISITION FROM RIVERWOOD BANK IN
DECEMBER 2023 AND FURTHER TO CONTINUE TO DEFER THE 429 SPECIAL
ASSESSMENTS FOR AN ADDITIONAL 10 YEARS OR UNTIL THE PROPERTY IS SOLD FOR
DEVELOPMENT, OLLIE WHITE SECONDED THE MOTION. MOTION CARRIED
UNAMIOUSLY, 6-0.
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.
Adjournment
TRACY HINZ MOVED TO ADJOURN. HALI SITTIG SECONDED THE MOTION. MOTION
CARRIED UNANIMOUSLY, 6-0. MEETING ADJOURNED AT 7:29 P.M.
Recorder: Vicki Leerhoff
Approved: December 11, 2024
Attest:
James Thares, Economic Development Manager
EDA Agenda: 12/11/2024
3C. Consideration of authorizing 2025 Wright Countv Economic Development Partnershi
(WCEDP) membership and further approving annual dues in the amount of $4,009
Prepared by:
Meeting Date:
❑ Regular Agenda Item
Economic Development Manager
12/11/2024
® Consent Agenda Item
Reviewed by:
Approved by:
Community Development
City Administrator
Director, Community & Economic
Development Coordinator,
Finance Director
ACTION REQUESTED
Motion to authorize 2025 Wright County Economic Development Partnership (WCEDP)
membership and further approving annual dues in the amount of $4,009.
REFERENCE AND BACKGROUND
The EDA is asked to authorize 2025 membership in the WCEDP and annual dues in the amount
of $4,009. The 2025 dues are an increase of $608.00 or 17.9 percent over the 2024 membership
dues. WCEDP membership dues are based on a communities' population. For the City of
Monticello, that figure is 15,087, based on a recent population estimate by the Minnesota State
Demographer's Office.
The EDA has been a member of the WCEDP for many years. In collaborating with and
supporting the WCEDP, it offers the potential to leverage additional funding for projects
through the WCEDP Loan Program. The WCEDP also pays membership fees to organizations
that allow the EDA-City to gain access to regional events held by MNCAR, and the Minnesota
Marketing Partnership, a MN -DEED organized collaborative.
It should also be noted that the WCEDP is leading a County -wide workforce development
initiative, wherein it collaborates with local school districts, businesses, the MN Workforce
Center, regional technical schools, and other organizations regarding worker training
opportunities, job postings and placement efforts. In addition, WCEDP has also launched its
County -wide Business Retention and Expansion (BRE) program effort. In that role, WCEDP staff
participate with City staff in conducting BRE visits in the City of Monticello. A total of two
collaborative BRE visits were conducted in the past 12 months (this includes the Project
Maxwell [Niron Magnetics] recruitment effort.
EDA Agenda: 12/11/2024
Finally, the WCEDP recently announced that it hired Missy Meidinger as its new Executive
Director (see attached exhibit) and has reiterated that it will be renewing its emphasis on
business outreach efforts and collaborating with local partners.
Budget Impact: The budget impact to the EDA's General Fund budget related to the
2025 WCEDP membership dues is $4,009. This amount was anticipated in formulating
the 2025 EDA General Fund budget which was approved by the EDA at its August 14,
2024, meeting.
II. Staff Workload Impact: The staff impact related to consideration of the 2025 WCEDP
membership and annual dues is minimal.
III. Comprehensive Plan Impact: The Vision adopted as part of the Monticello 2040 Vision +
Plan outlines a wide range of Economic Development Goals. In order to accomplish the
wide-ranging goals, the Plan identifies collaboration with various regional partners on
economic development efforts as a key strategy to accomplish the identified strategies
and objectives.
STAFF RECOMMENDATION
Staff recommend authorizing 2025 membership in the WCEDP and further approving the
annual dues in the amount of $4,009. By participating in the WCEDP, the EDA benefits through
marketing and networking opportunities, BRE visitations, information sharing and collaborating
in project funding, as well as workforce training efforts that are more effective on a larger
geographic scale.
SUPPORTING DATA
a. WCEDP 2025 Annual Dues Statement
b. Recent WCEDP Newsletter Update and link to WCEDP newsletter =
https://app.associationsphere.com/communication/view?prm=ekArJOMZYN4dgkquTWKulPGBtgeXu
gLhVXIU2gCTW4EiH9NJO yr-nnE7Hnn-
9U7HOem42oTXladvCNK2oFQmTYdRb2xN6XMBXpgJNOLLrzKGzWyk8lBz4LsUNc4MuisoQma3lYGSdS
SOfI
'00'
//cec.
Wright County
Economic Development Partnership
Partnering for Opportunities
September 11, 2024
Dear Jim Thares,
Thank you for your continued support of the Wright County Economic Development Partnership. To
assist you in budget planning for your community, I am sending this notice in advance for the year of
2025. This is not an invoice, but rather a thank you and a request to remember the Partnership and its
efforts when navigating your budget process.
Municipalities' dues are calculated based on the recent State Demographer's population estimate
figures. Actual dues will be based on the most recent statistics. The ever -changing profile of Wright
County and the increased demand for Partnerships' services helped determine this policy. This year we
have increased dues by the updated demographer number which we found to be 15087.
Member investor payment for FY 2025: $4,009
The Partnership has worked hard to increase the visibility of Wright County and its cities for business
development. We have arranged business retention and expansion visits, frequently answer business
development questions for potential entrepreneurs created a new Marketing Committee dedicated to
marketing our communities and county and continue to provide support to the communities and
businesses whom we serve. Feel free to call to chat as many other projects are underway that will
directly benefit your community.
With your continued support, the Partnership will be better able to provide service in these areas and
bring a solid return on your investment. If you'd like a presentation by the Partnership to your city
council we'd be happy to do so.
Thank you. We sincerely appreciate your commitment to supporting economic development efforts in
Wright County. I look forward to working with you in 2025!
Sincerely,
Missy Meidinger, Executive Assistant/Marketing Coordinator
763-496-5632
missym@wrightpartnership.org
EDA Agenda: 12/11/2024
5A. Consideration of authorizing funding for the 2025 Broadwav Parking Easement (220
West Broadway; Block 36) management and maintenance in the amount of $2,377.28
Prepared by:
Meeting Date:
® Regular Agenda Item
Economic Development Manager
12/11/2024
❑ Consent Agenda Item
Reviewed by:
Approved by:
Community Development
City Administrator
Director, Community & Economic
Development Coordinator,
Finance Director
ACTION REQUESTED
Motion to authorize funding for the 2025 Broadway Parking Easement (220 West Broadway;
Block 36;) management and maintenance in the amount of $2,377.28.
REFERENCE AND BACKGROUND
The EDA is asked to authorize the annual funding contribution to the 2025 Broadway Parking
Easement management and maintenance costs. The proposed contribution is based on the
budget prepared by the property manager, Bullseye Property Management and Realty (Big
Lake, MN). The budget is unchanged from the previous four years (2021-2024).
As seen in the attached proposal, costs included in the parking lot budget consist of Electricity,
Grounds Maintenance (Lawn/Snow), and Management Fees. The EDA owns 12.16 percent or
2,612 square feet of the 21, 480 square foot site (see exhibit).
Budget Impact: The budget impact to the EDA's General Fund budget related to the
2025 annual donation to the Initiative Foundation is $2,377.28. The 2025 EDA General
Fund budget has sufficient funding to authorize funding for the Broadway Parking
Easement.
II. Staff Workload Impact: The staff impact related to consideration of the 2025 Broadway
Parking Easement funding allocation is minimal.
III. Comprehensive Plan Impact: N/A
STAFF RECOMMENDATION
Staff recommend the EDA authorize allocating $2,377.28 in funding for the 2025 annual
Broadway Parking Easement management and maintenance costs. The proposed funding
EDA Agenda: 12/11/2024
allocation is based on the EDA's percentage of ownership of the parking lot in Block 36. The
proposed contribution is the same as the past four years. The EDA General Fund budget
includes a line item, Miscellaneous Professional Services — Property Management, specifically
for this item.
SUPPORTING DATA
A. 2025 Broadway Parking Easement Budget
B. 2025 Broadway Parking Easement Budget w/ Notes
C. Aerial Photo — Broadway Parking Easement (Block 36 Parking Lot)
D. 2025 EDA General Fund Budget Proposal
2025
BPE I
Broadway Parking
Easement
-
Bullseye Property Management & Realty
Bullseye
35 Lake
Street S,
Suite 500
COMMERCIAL
I
FY2025
Big Lake, MN 55309
Property Management
Realty • Leasing • Sales
(763) 295-6566
As of 8/6/2024
Account
Jan
Feb
Mar
Apr May
Jun
Jul
Aug
Sep
T Oct
Nov
Dec
FY 2025
Income
Common Area Maintenance
1,629.17
1,629.17
1,629.17
1,629.17 1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
$19,550.00
Total for Income
1,629.17
1,629.17
1,629.17
1,629.17 1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
$19,550.00
Expenses
Common Area Maintenance (CAM)
Electricity CAM
125.00
125.00
125.00
125.00 125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
$1,500.00
Grounds Maintenance (Lawn/Snow) CAM
1,083.33
1,083.33
1,083.33
1,083.33 1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
$13,000.00
Management Fees CAM
150.00
150.00
150.00
150.00 150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
$1,800.00
Subtotal for Common Area Maintenance
(CAM) 1,358.33
1,358.33
1,358.33
1,358.33 1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
$16,300.00
Labor
20.83
20.83
20.83
20.83 20.83
20.83
20.83
20.83
20.83
20.83
20.83
20.83
$250.00
Reserve Account
250.00
250.00
250.00
250.00 250.00
250.00
250.00
250.00
250.00
250.00
250.00
250.00
$3,000.00
Total for Expenses
1,629.17
1,629.17
1,629.17
1,629.17 1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
$19,550.00
Net Operating Income
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0.00
Non -operating Income
Total for Non -operating Income
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0.00
Non -operating Expenses
Total for Non -operating Expenses
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0.00
Net Non -operating Income
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0.00
Net Income
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0.00
Generated 08/06/2024 14:22:51 Page 1 of 1
04*
2025 BPE I Broadway Parking Easement - Bullseye Property Management & Realty
Bullseye 35 Lake Street S, Suite 500
Property Management COMMERCIAL I FY 2 0 2 5 Big Lake, MN 55309
Realty Leasing Sales (763) 295-6566
As of 8/6/2024
Account
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov Dec FY 2025
Income
Common Area Maintenance
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17 1,629.17 $19,550.00
Total for Income
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17 1,629.17 $19,550.00
Expenses
Common Area Maintenance (CAM)
Electricity CAM
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00 125.00 $1,500.00
Grounds Maintenance (Lawn/Snow) CAM
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33
1,083.33 1,083.33 $13,000.00
Management Fees CAM
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00 150.00 $1,800.00
Subtotal for Common Area Maintenance (CAM)
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33
1,358.33 1,358.33 $16,300.00
Labor
20.83
20.83
20.83
20.83
20.83
20.83
20.83
20.83
20.83
20.83
20.83 20.83 $250.00
Reserve Account
250.00
250.00
250.00
250.00
250.00
250.00
250.00
250.00
250.00
250.00
250.00 250.00 $3,000.00
Total for Expenses
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17
1,629.17 1,629.17 $19,550.00
Net Operating Income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00 $0.00
Non -operating Income
Total for Non -operating Income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00 $0.00
Non -operating Expenses
Total for Non -operating Expenses
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00 $0.00
Net Non -operating Income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00 $0.00
Net Income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00 $0.00
20 L00 ..�- Qrl
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2oz.5 �3M��
"01
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2ozc� ZozZl2oa3�zo2`�
�-
bU46*�{-8D . ZC=. f3r
Generated 08/06/2024 14:22:51
Page 1 of 1
19 we::�5
V).0 t
Beacon t hrWright County, MN
Overview
Legend
Roads
— CSAHCL
— CTYCL
-- MUNICL
-- PRIVATECL
—° TWPCL
Highways
Interstate
State Hwy
US Hwy
City/Township Limits
❑c
�t
Parcels
Torrens
Date created: 7/3/2023
Last Data Uploaded: 7/3/2023 7:27:02 AM
Developed by4� Schneider
GEOSPATIAL
EDA GENERAL FUND DRAFT 2025 EXPENDITURES BUDGET
EDA General Fund
2022
ACTUAL
2023
ACTUAL
2024
BUDGET
2024
THRU 7/31
2025
BUDGET
CHANGE
Account Number
Account Description
213-41911-431990
MISC PROFESSIONAL SERVICES
$ 130,973
$ 1,281
$ -
$ -
-
---
213-46301-410100
SALARIES, FULL TIME - REG
117,379
125,789
137,004
81,910
159,697
16.56%
213-46301-410200
SALARIES, FULL TIME - OT
609
903
-
564
500
---
213-46301-410300
SALARIES, PART TIME - REG
6,909
12,005
7,200
6,979
7,200
0.00%
213-46301-411100
SEVERANCE PAY
-
-
-
1,599
-
---
213-46301-411110
SEVERANCE BENEFITS
-
-
-
-
1,000
---
213-46301-412100
PERA CONTRIBUTIONS
8,901
9,411
10,275
6,186
12,015
16.93%
213-46301-412200
FICA CONTRIBUTIONS
9,144
10,189
11,032
6,906
12,806
16.08%
213-46301-413100
HEALTH/DENTAL/LIFE INSURAN
19,400
19,646
29,273
10,148
27,269
-6.85%
213-46301-413250
HSA CONTRIBUTIONS
5,468
5,722
-
2,444
-
--
213-46301-413300
LIFE INSURANCE CONTRIBUTIONS
120
120
-
80
-
---
213-46301-413400
DISABILITY INS CONTRIBUTIONS
693
735
-
438
-
---
213-46301-415100
WORKERS COMP INSURANCE
2,639
2,268
2,374
1,753
2,939
23.80%
213-46301-421990
GENERAL OPERATING SUPPLIES
374
35
400
-
500
25.00%
213-46301-430300
PROF SRV - ENGINEERING FEE
-
-
5,000
-
5,000
0.00%
213-46301-430400
PROF SRV - LEGAL FEES
10,497
21,780
20,000
15,742
22,500
12.50%
213-46301-431990
MISC PROFESSIONAL SERVICES
71,996
134,078
31,700
21,463
54,000
70.35%
213-46301-431991
MISC PROFESSIONAL SERVICES - PROPERTY MGMT
-
2,566
4,000
1,497
4,300
7.50%
213-46301-431993
MISC PROFESSIONAL SERVICES - ECON DEV SVCS
74,959
19,777
18,200
11,298
19,000
4.40%
213-46301-432100
TELEPHONE STIPEND
780
780
780
390
780
0.00%
213-46301-432150
IT SERVICES
3,659
3,473
3,353
1,677
3,412
1.76%
213-46301-432200
MAIL & DELIVERY SERVICES
76
462
275
1
300
9.09%
213-46301-433100
TRAVEL/TRAINING EXPENSE
1,996
5,120
3,600
1,058
3,750
4.17%
213-46301-434990
ADVERTISING & MARKETING
26,766
5,000
45,000
16,285
47,000
4.44%
213-46301-435100
LEGAL NOTICE PUBLICATION
203
398
650
1,310
650
0.00%
213-46301-436100
INSURANCE - LIABILITY/PROPERTY/VEHICLE
1,668
3,395
5,623
4,259
2,350
-58.21%
213-46301-437100
PROPERTY TAXES
13,664
-
-
185,678
2,250
---
213-46301-438100
UTILITIES - GAS/ELECTRICITY
4,273
10
100
1,410
100
0.00%
213-46301-438200
WATER/SEWER
2,281
78
100
421
150
50.00%
213-46301-440100
REPAIR & MTC - BLDG & SYSTEMS
-
-
-
-
-
---
213-46301-440200
REPAIR & MTC - FACILITIES MAINTENANCE
6,500
1,512
1,119
560
99
-91.15%
213-46301-443300
DUES, MEMBERSHIP & SUBSCRIP
8,091
6,796
9,000
6,936
11,000
22.22%
213-46301-461500
REDEVELOPMENT ACTIVITIES
214,689
4,500
151,942
-
130,233
-14.29%
213-46301-443990
MISCELLANEOUS OTHER EXP
306,409
603,370
1,000
277,371
1,200
20.00%
213-46301-472030
OPERATING TRANSFER OUT
-
-
-
-
-
--
213-46601-443990
MISCELLANEOUS OTHER EXP
-
-
-
-
-
--
TOTAL EXPENDITURES
$ 1,051,117
$ 1,001,199
$ 499,000
$ 666,360
$ 532,000
6.61%
EDA Agenda: 12/11/2024
6A. Economic Development Manager's Report
Prepared by:
Meeting Date:
® Other Business
Economic Development Manager
12/11/2024
Reviewed by:
Approved by:
N/A
N/A
REFERENCE AND BACKGROUND
1. Broadway Street Public Improvement Project Assessment: The EDA owned property, 218
— 220 West Broadway, (connected to the Broadway Parking Easement) was assessed
$6,578.44 for the recently completed street, public utility (sewer), and sidewalk
improvements on Broadway. City staff paid the EDA's assessment in full in late November
to avoid incurring interest charges toward the assessment. Please see email from City
Finance Director, Sarah Rathlisberger (Exhibit A).
2. EDAM 2025 Winter Conference — January 22 — 24, 2025 at the Lofton Hotel, 601 North 1't
Avenue, Minneapolis, MN 55403: City staff are planning to attend the three-day EDAM
2025 Winter Conference on January 22, 23 and 24. City staff will share the full Conference
Agenda with the EDA at the January 8, 2025, meeting. The Conference serves as an
opportunity to learn about issues encountered by those involved in economic
development efforts as well as new tools and solutions as well as valuable networking.
See Exhibit B.
3. Prospect List Update - See Exhibit C.
Jim Thares
From: Sarah Rathlisberger
Sent: Tuesday, December 3, 2024 8:49 AM
To: Angela Schumann; Jim Thares
Subject: Downtown Assessment EDA
The parcel that paid the assessment for sewer line improvements as part of the downtown project is 155-010-
036090, and the assessment is $6,578.44.
Thankyou!
Sarah Rathlisberger, CPFO
Finance Director
&CITY f
MonIIItf6eUq
.11001F- 01.�
Tel: 763-271-3201
Fax: 763-295-4404
NOTE: The contents of this E-mail may contain information that is legally privileged and/or confidential to the
named recipient. This information is not to be used by any other person and/or organization. The views expressed
in this document do not necessarily reflect those of the City of Monticello. Email correspondence to and from City
of Monticello government offices is subject to the Minnesota Government Data Practices and may be disclosed to
third parties.
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PROSPECT LIST
12/05/2024
Date of
Contact
Company Name
Business Category
Project Description
Building -Facility
Retained Jobs New Jobs
Total Investment
Project Status
5/22/2018
2/28/2022
10/28/2021
4/28/2022
Karlsburger Foods
Project Emma II
Project Stallion
Project Cougar
Food Products Mfg.
Light Ind -Assembly
Technology Service
Precision Machining -Mfg.
Facilty Expansion
New Construction
New Construction
New Construction
20,000 sq. ft. +/-
20,000�
42,000 sq. ft.
35,000 to 45,000 sq. ft.
42
0
10 to
20
4
40
38
$4,500,000
$1,350,000
$3,600,000
$4,700,000
On Hold
Active Search
Active Search
Active Search
8/11/2022
Project Sing
Precision Machining
New Construction
400,000 sq. ft.
0
500
$90,000,000
Active Search
11/9/2022
Project Tea
Mfg
New Construction
25,000 sq. ft.
55
20
$5,800,000
Active Search
4/20/2023
Project Lodge DH1
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-MOB
MOB
New Construction
175,000+sq. ft.
?
$21,000,000
Identified Site
8/16/2023
Project Lodge RT4
Lodging-Hopsitality
New Construction
98 Room Hotel
N/A
30
$19,500,000
Identified Site
9/19/2023
Project Panda#4
Sz
Childcare Facility
New Construction
?
N/A
?
$2,000,000+/-
Active Search
1/17/2024
Project Tex
Industrial
New Construction
500,000 sq. ft.
0
100
$500,000,000
Active Search
PROSPECT LIST 12/05/2024
Date of
Contact
Company Name Business Category Project Description Building -Facility Retained Jobs New Jobs Total Investment Project Status
1/17/2024
Project G
Industrial
New Construction
1,000,000 sq. ft.
0
?
$120,000,000
Focused Search
2/12/2024
Project Lodge-
MSMWDC
Lodging -Hospitality
New Construction
?
0
10
$12,000,000
Identified Site
3/5/2024
Project Panda 20-
MS
Child Care Facility
New Construction
20,000 sq. ft.
0
20
$2,000,000
Active Search
3/29/2024
Project ET-BB-12-9
Industrial
Relocate - Existing Bldg
12,000 sq. ft.
12
$1,150,000
Identified Site
4/12/2024
Project Rest B52
Restaurant
New build out -Finish
5,000 sq. ft. +/-
0
15
1500000+/-
Identified Site
5/30/2024
Project EP-BDDC
LACW
Data Center
New Construction
??
??
??
Identified Site
5/31/2024
Project DC2-NWG-GB
Data Center
New Construction
??
0
40
??
Active Search
7/3/2024
Project Hair Obsess
Service
Property Acquisition and
Renovation
2,100 sq. ft.
14
6
$600,000
Identified Site
7/30/2024
Project EPG 40x2-50
Industrial
New Construction
40,000 sq. ft.
0
40
$4,000,000
Active Search
12/3/2024
Project LEI Pack
Industrial
New Construction
35,000 sq. ft.
0
21
$15,500,000
Active Search
Contacts: M
= 03 YTD =
36