EDA Agenda 08-13-2008. AGENDA
~' CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
Wednesday, August 13th, 2008
6:00 PM
Monticello Community Center -Mississippi Room
Commissioners: President Bill Demeules, Vice President Dan Frie, Bill Fair, Bill
Tapper, Bob Viering, and Council members Clint Herbst and Wayne Ma e
Staff: Jeff O'Neill, Angela Schumann, Tom Kelly and Megan Barnett
1. Call to Order.
2. Roll Call.
3. Introduction of Executive Director.
4. Report of Committees: Marketing, Fiber Optics, Housing and Higher Education
• 7. Unfinished Business: None
8. New Business:
a. Report by Finance Director Tom Kelly on Annual TIF Reports
9. Adjourn.
r~
U
r Discussion regarding sale of property owned by George Larson
Background:
George Larson contacted the City regarding the ~otential sale of his property (PIN
155019008010) located at 300 4~` Street E, along 4 Street and Palm Street. Mr. Larson
would like to sell his property for approximately $150,000. The estimated Wright County
market value is $134,400. Mr. Larson verbally stated he would accept the appraised value
for the sale of his land.
Existing Conditions Information:
• The property and existing house is currentlybeingunderutilized
• Palm Street was extended adjacent to the property
• The property is surrounded by similar underutilized properties
• Property is zoned R-2
• The property has the potential to be included as part of a larger redevelopment
area
• The property is a key parcel in the ability to further redevelop the area, due to
size, location, and existing layout of house and garage
• An existing garage encroaches upon Palm Street right-of--way.
. Mr. Larson has put his plans to improve the property on hold for the next two week in the
hopes the City will decide whether or not they will pursue the option to purchase his
property.
EDA Action:
Provide direction regarding the potential purchase of the property located at 300 4~' Street
E, research available funding sources, and initiate the completion of an appraisal.
EDA: 8.13.08
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