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EDA Agenda 11-12-2008AGENDA CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY Wednesday, November 12, 2008 - 6:00 p.m. Mississippi Room - 505 Walnut Street, Monticello, MN Commissioners:President Bill Demeules, Vice President Dan Frie, Treasurer Bill Tapper, Bill Fair, Bob Viering, and Council members Clint Herbst and Wayne Mayer. Staff: EDA Executive Director Megan Barnett Call to Order. 2. Approve Minutes: October 8, 2008 3. Consideration of additional agenda items 4. Approval of the EDA Invoices 5. Public Hearing and approval to amend EDA Tax Increment Financing Business Subsidy Criteria and continue public hearing related to GMEF Business Subsidy Critiera 6. Award TIF Management Analysis bid 7. Report of committees: Higher Education Committee, Marketing, Housing, Fiber Optics S 8. Report of the Executive Director General IEDC Update Business Retention Business Initiative Housing Initiatives Informational handouts Future Agenda items 9. Adjournment. • MINUTES CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY Wednesday, October 8, 2008 6:OOpm 1. Call to order Chairman Demeueles called the meeting to order and declared a quorum at 6:OOpm. Roll Call: The following Commissioners were present: Chair Bill Demeules Vice President Dan Frie Treasurer Bill Tapper Commissioner Fair Commissioner Viering (arrived at 6:25) Commissioner Mayer Commissioner Herbst Absent: none Also present: Executive Director Megan Barnett and Treasurer Tom Kelly 2. Reading and approval of EDA Minutes: MOTION BY COMMISSIONER HERBST, SECONDED BY BILL FAIR TO APPROVE THE MAY 14, 2008 MEETING MINUTES. MOTION CARRIED. 6-0 (Commissioner Viering was absent) MOTION BY BILL TAPPER, SECONDED BY DAN FAIR TO APPROVE THE AUGUST 13, 2008 MEETING MINUTES. MOTION CARRIED. 4-0 (Commissioner Viering was absent) Commissioner Herbst and Frie abstained. 3. Approval of EDA Invoices: Executive Director Barnett handed out additional invoices relating to the payment of County Taxes and invoices from WSB. MOTION BY BILL TAPPER, SECONDED BY DAN FRIE TO APPROVE PAYMENT OF EDA INVOICES. MOTION CARRIED. 6 -0 (Commissioner Viering was absent) 4. Public Hearing for EDA Business Subsidy Criteria (TIF) and approve amendments. 5. Public Hearing for EDA Business Subsidy Criteria (GMEF) and approve amendments. President Demeules opened the public hearing to amend the -EDA Business Subsidy Criteria relating to TIF and GMEF at 6:12pm. There was no public input. President Demeules closed the public hearing at 6:13pm. MOTION BY COMMISSIONER FAIR, SECONDED BY COMMISSIONER MEYER TO APPROVE THE AMENDED BUSINESS SUBSIDY CRITERIA (TIF). MOTION CARRIED. 6-0 (Commissioner Viering was absent) Commissioner Tapper stated it was his understanding that the Authority had a lengthy discussion about removing reference made to a specific minimum wage amount. The Authority agreed the minimum wage amount was set forth by the Federal government and subject to change, including a specific dollar amount in the criteria was not necessary. MOTION BY COMMISSIONER TAPPER TO APPROVE THE AMENDED BUSINESS SUBSIDY CRITERIA (GMEF) WITH THE REMOVAL OF "A .WAGE OF THE NIGER OF $9.00, OR." SECONDED BY DAN FRIE. MOTION CARRIED 6-0 (Commissioner Viering was absent) 6. Update and Expansion of TIF Management Plan. Executive Director Barnett reviewed the staff report stating that analysis and review of the City's 34 TIF Districts has not been reviewed for more than three years. Detailed financial information pertaining to cash flow projections for each district and recommendations on decertification, redeeming any existing debt obligations, and critical management strategies will be valuable information in structuring any assistance packages in the future. The Authority discussed at length the cost associated with completing the TIF analysis/management plan. Concern was raised due to the fact that only one proposal was received. Consensus of the Authority was the analysis was necessary but additional proposals needed to be obtained. MOTION BY COMMISSIONER MAYER, SECONDED BY COMMISSIONER HERBST DIRECTING STAFF TO AUTHOR AND OBTAIN RFP'S TO COMPLETE AN ANALYSIS OF THE CITY'S TIF MANAGEMENT PLAN. MOTION CARRIED 7-0. 7. TIF District and Project Record Management. Executive Director Barnett reviewed the staff report with the EDA. Concern was expressed regarding the current method and placement of all TIF documents. Staff is having some challenges in locating all TIF related documents due to the fact that several different departments and consultants have assisted in creating and reviewing the City's districts. The Authority expressed concern regarding the cost. Questions were asked if this project could be accomplished by another consulting firm. Staff stated that even if another consultant were to attempt to compile and devise a TIF records management plan, they would have to consult with Ehlers, therefore resulting in a higher overall project cost. MOTION BY COMMISIONER HERBST, SECONDED BY DAN FRIE APPROVING THE TIF DISTIRCT AND PROJECT RECORD MANAGEMNT PROPOSAL SUBMITTED BY EHLERS AT A MAXIMUM AMOUNT OF $7,400, WITH THE UNDERSTANDING THAT STAFF WILL PUT THEIR BEST EFFORTS FORWARD TO REDUCE COST WHEN POSSIBLE. MOTION CARRIED 7-0. 8. Billboard Message. The Marketing Committee recommended that the billboard message focus on a Fiber Optics for the remaining of the contract, October through December 31, 2008. The Authority stated their concern that the billboard sign was too busy. Discussion ensued regarding what Billboards the City owns and how the contracts have been established. The Authority agreed effort should be put towards utilizing a billboard on City owned land first. MOTION BY COMMISSIONER VIERING TO REVISE THE BILLBOARD MESSAGE DELETING THE PORTION THAT SAYS "100% FIBER OPTIC NETWORK & GRAPHIC" AND DIRECTING STAFF TO RESEARCH CURRENT CONTRACTS FOR BILLBOARDS ON CITY OWNED LAND AND RESEARCH WHETHER THE CITY IS IN OWNERSHIP OF ANY BILLBOARDS OR IF THEY OWN JUST THE LAND. MOTION CARRIED 7-0. 9. Report from Committees. Executive Director Barnett reviewed the staff report outlining committee updates. It was determined that Bill Tapper, Bob Viering, and Dan Frie serve on the Housing Committee. Executive Director Barnett reviewed some progress she has made regarding the City's website. Enhancing the City's site to be more user friendly to realtors and businesses looking to locate to the City of Monticello. The Authority was also updated on initiations to create an up to date professional marketing piece and a business newsletter authored by the EDA/IEDC. The marketing committee will ~ I . ~ zo5o ADVERTISER: CITY OF MONTICELLO D SIGN: RACT NO: ID NO: 308655 ~~' P.O. BOX 96030, BATON ROUGE, LA 70896 OR 225-926-1000 800-777-4896 INV N0: 11649863 ACCOUNT N0: 305703 000 INVOICE DATE: 9/20/2008. BILLING PERIOD: 9/20/2008 TO 10/19/2008 157-DSL6867 MONTICELLO, MN 9/20./2008 TO 10/19/2008 I-94 3000' E/O HWY 25 SS F/E '20083 ILL s ~ 1 ~e ,~ ~~..,,, .., ~~~ ~ , ,+~ ~ r . . ~~ ~ ~ ~? 2 0 200 ~..m.~.~--µ-T-~ ~ ~~~~,~,0 ,~ rn~ibFir E R D ST. CLOUD, MN L_ J PLEASE SEE -u1ATiON! 1,110.00 AMOUNT 1.7 . °•oo MONTiCELLO TIMES 10917 VALLEY VIEW ROAD EDEN PRAIRIE MN 55344 (952) 392.6690 Fax(7'63) 295-3080 Advertising Memo BIli CITY OF MONTTCELLO Amount Paid: ATTN: ACCOUNTS PAYABLE 505 WALNUT ST STE 1 Comments: MONTICELLO MN 55362 Ad #~ 870804 Dlme~ DMrr.n ! Inner. DnMMn WI/1. 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'.: '.3f:s ..^kd: ;xy+.e<. .. ... -~.., :%'t"-- - r„~._: y. , om`».•~`s=::":'#':.' --,^-.tY ..3~A:: .'.`w~m o.ool o.oo I a.oa I o.oo MONTICELLO TIMES {952} 382-6890 ' UNAPPLIED AMOUNTS ARE INCLUDED iN 09/2008 ~ 133 ~ 133~~CITY OF MONTICELLO -® ~~~ Associates, Inc. Infrastructure 1 Engineering 1 Planning 1 Construction November 3, 2008 Mr. Tom Kelly, Finance Director City of Monticello 505 Walnut Street, Suite 1 Monticello, MN 55362 Attn: Ms. Dawn Grossinger, Deputy City Clerk Re: Revised Construction Pay Voucher No. 6 Dalton Avenue, Dalton Court, and Dalton Way Street, Utilities, and Appurtenant Work City of Monticello Project No. 2006-15C WSB Project No. 1627-57 Dear Mr. Kelly: 701 Xenia Avenue South Suite 300 Minneapolis, MN 55416 Tel: 763-541-4800 Fax: 763-541-1700 Please find enclosed a revised Construction Pay Voucher No. 6 for the above-referenced project in the amount of $25,398.39. Please discard the previous Pay Voucher No. 6 sent to you on October 30, 2008. The quantities completed to date have been reviewed and agreed upon by the contractor, and we hereby recommend that the City of Monticello approve Construction Pay Voucher No. 6 for R. L. Larson Excavating, Inc. If you have any questions regarding the above, please do not hesitate to contact me at 763-287- 7162. Sincerely, WSB & Associates, Inc. ?,,~~ Shibani K. Bisson, PE Project Manager Enclosures cc: Bruce Westby, City of Monticello Jeff O'Neill, City of Monticello R. L. Larson Excavating, Inc. Doug Hackman, WSB & Associates, Inc. srb ACEC 2008 Firm of the Year ~o P~'it; - 4 208 Minneapolis 1St. CIOU(1 ~;nrc?as~~,er.n,,~c.„~.,~,~n.,,~nd~,~,nirai~nh<•r~•-,A~rry-rroinx.xr•su.d„~ Equal Opportunity Employer 01627-57 -Pay Voucher 6 ~~ ~~~ & ~iciarea, Irra. Owner: City of Monticello 505 Walnut St Monticello, MN 55362-1147 For Period: 711/2008 to 10/23/2008 Contractor: R. L. Larson Excavating, Inc. 225512th Street Southeast St. Cloud, MN 56301 Monday, November 03, 2008 Date: 10!2812008 Request No.: Pay Voucher MONT -Dalton Ave and Westerly Road Extension Client Contract No.: Project No.: 01627-57 Client Project No.: 2006-15C Proj ect Summary. 1 Original Contract Amount $1,003,560.02 2 Contract Changes -Addition $40,000.00 3 Contract Changes -Deduction $0.00 4 Revised ContractAmount $1,043,560.02 5 Value Completed to Date $1,026,330.77 6 Material on Hand $0.00 7 Amount Earned $1,026,330.77 8 Less Retainage 5% $51,316.54 9 Subtotal $975,014.23 10 Less Amount Paid Previously $949,615.84 11 Liquidated Damages $0.00 12 AMOUNT DUE THIS PAY VOUCHER NO. 6 $25,398.39 THIS IS TO CERTIFY THAT THE ITEMS OF WORK SHOWN IN THIS CERTIFICATE OF PARTIAL PAYMENT HAVE BEEN ACTUALLY FINISHED FOR THE WORK COMPRISING THE ABOVE MENTIONED PROJECTS IN ACCORDANCE WITH THE PLANS AND SPECIFICATIONS HERETOFORE APPROVED. Recommended for Approval by: WSB & ssociates, Inc. G Approved by Contractor: R. L. Larson Excavating, Inc. Specified Contract Completion Date: 7/31/2007 Comment: Construction Observer: Ap oved by Owner: City of Monticello Date: • • l of 5 01627-57 -Pay Voucher 6 Project Material Status f Monday, November 03, 2008 Item No. Item Description Units Unit Price Contract Quantity Quantity to Date Current Quantity Amount to Date chedule A -Surface Improvements 2021.501 MOBILIZATION LUMP SUM $2,800.00 1 1 0 $2,800.00 2 2104.501 REMOVE CURB AND GUTTER LIN FT $2.00 20 20 0 $40.00 3 2104.505 REMOVE BITUMINOUS PAVEMENT SO YD $2.00 25 i'` 'x- 0 0 $0.00 4 2104.513 SAWING BITUMINOUS PAVEMENT (FULL DEPTH) LIN FT $3.00 46 `` ~` 0 $138.00 5 2105.501 COMMON EXCAVATION CU YD $1.00 300 0 $0.00 6 2112.501 SUBGRADE PREPARATION ROAD STA $50.00 18.5 1 $925.00 7 2211.501 AGGREGATE BASE CLASS 5 MOD TON $8.75 6865 7260.4 63,528.50 8 2350.501 TYPE MV 3 WEARING COURSE MIXTURE (B) TON $54.75 860 849.19 61 $46,493.15 9 2350.502 TYPE MV 2 NON WEARING COURSE MIXTURE (B) TON $47.50 1150 1012.88 0 $48,111.80 10 2350.502 TYPE MV 3 NON WEARING COURSE MIXTURE (B) TON $47.50 1150 1129.16 70 $53,635.10 11 2357.502 BITUMINOUS MATERIAL FOR TACK COAT GALLON $2.00 1050 625 0 $1,250.00 12 2521.602 TRUNCATED DOME PEDESTRIAN RAMP EACH $600.00 2 2 0 $1,200.00 13 2521.604 2" BITUMINOUS PATH SO YD $18.75 685 760 95 $14,625.00 14 2531.501 CONCRETE CURB & GUTTER DESIGN 8618 LIN FT $8.85 4200 1623 -90 $14,363.55 15 2531.507 7" CONCRETE DRIVEWAY PAVEMENT SO YD $52.00 240 240 120 $12,480.00 16 2554.602 TEMPORARY BARRICADES (TYPE III) EACH $300.00 2 2 1 $600.00 17 2563.601 TEMPORARY TRAFFIC CONTROL LUMP SUM $0.01 1 1 0 $0.01 18 2564.531 SIGN PANELS TYPE C SO FT $50.00 8 6.25 6.25 $312.50 19 2564.602 F&I SIGN PANEL TYPED EACH $300.00 2 2 2 $600.00 20 2564.603 4" SOLID LINE WHITE-EPOXY LIN FT $0.30 3000 3044 3044 $913.20 21 2564.603 24" SOLID LINE WHITE-EPOXY LIN FT $6.00 20 26 26 $156.00 22 2564.603 4" DOUBLE SOLID LINE YELLOW-EPOXY LIN FT $0.60 1390 1411 1411 $846.60 23 2565.603 4" NON-METALLIC CONDUIT LIN FT $2.50 350 229 0 $572.50 24 2565.603 INSTALL 4" NON-METALLIC CONDUIT LIN FT $4.00 350 679 0 $2,716.00 2573.530 INLET PROTECTION TYPE C EACH $50.00 13 8 0 $400.00 6 2573.602 TEMPORARY ROCK CONSTRUCTION ENTRANCE EACH $400.00 1 0 0 $0.00 27 2575.523 EROSION CONTROL BLANKETS CATEGORY 3 SQ YD $1.50 250 0 0 $0.00 28 2575.605 SEEDING, MIX 150 (INCL. FERT. & MULCH) ACRE $600.00 1.6 1.6 0 $960.00 29 2575.605 SEEDING, MIX 250 (INCL. FERT. & MULCH) ACRE $600.00 0.05 0.05 0 $30.00 Totals For Section Schedule A -Surface Improvements: $267,696.91 Schedule B -Watermain 30 2104.501 REMOVE WATER MAIN LIN FT $4.00 25 25 0 $100.00 31 2504.602 CONNECT TO EXISTING WATER MAIN EACH $1,000.00 1 1 0 $1,000.00 32 2504.602 HYDRANT EACH $2,300.00 6 6 0 $13,800.00 33 2504.602 RELOCATE HYDRANT AND VALVE EACH $600.00 1 1 0 $600:00 34 2504.602 16" BUTTERFLY VALVE AND BOX EACH $2,400.00 2 2 0 $4,800.00 35 2504.602 6" GATE VALVE AND BOX EACH $800.00 6 6 0 $4,800.00 36 2504.602 8" GATE VALVE AND BOX EACH $1,050.00 7 7 0 $7,350.00 37 2504.602 t2" GATE VALVE AND BOX EACH $1,800.00 3 3 0 $5,400.00 38 2504.602 RELOCATE 16" BUTTERFLY VALVE AND BOX EACH $250.00 1 1 0 $250.00 39 2504.603 6" WATER MAIN-DUCT IRON CL 52 LIN FT $24.00 191 191 0 $4,584.00 40 2504.603 8" WATER MAIN-DUCT IRON CL 52 LIN FT $28.00 365 366 0 $10,248.00 41 2504.603 12" WATER MAIN-DUCTILE IRON CLASS 50 LIN FT $30.00 900 868 0 $26,040.00 42 2504.603 16" WATER MAIN DUCT IRON CL 50 LIN FT $38.50 800 812 0 $31,262.00 43 2504.608 DUCTILE IRON FITTINGS POUND $1.65 8050 7856 0 $12,962.40 Totals For Section Schedule B -Watermain: $123,196.40 Schedule C -Sanitary Sewer 44 2503.511 B" PVC PIPE SEWER W/TRACER WIRE LIN FT $20.50 420 506 0 $10,373.00 45 2503.511 12" PVC PIPE SEWER (CORR. W! SMOOTH INT.) LIN FT $40.00 540 537 0 $21,480.00 2503.511 15" PVC PIPE SEWER (CORR. W/ SMOOTH INT.) LIN FT $32.00 370 370 0 $11,840.00 2 of 5 OI627-57 -Pay Voucher 6 Monday, November 03, 2008 Item No. Item Description Units Unit Price Contract Quantity Quantity to Date Current Quantity Amount to Date 47 2503.511 4" PVC PIPE SEWER W/ TRACER WIRE LIN FT $17.50 61 64 0 $1,120.00 48 2503.602 CONNECT TO EXISTING SANITARY SEWER EACH $1,000.00 1 1 0 $1,000.00 49 2503.602 CONNECT TO EXISTING MANHOLES (SAN) EACH $800.00 2 2 0 $1,600.00 50 2503.602 SEWER RISER EACH $350.00 7 '"' 7 0 $2,450.00 51 2503.602 12"X4" PVC WYE EACH $180.00 1 ~~ ~° l 0 $180.00 52 2503.602 10"x8" PVC WYE EACH $280.00 4 '- 0 $1,120.00 53 2503.602 15" X 8" PVC WYE EACH $400.00 1 $400.00 54 2503.602 12"X8" PVC WYE EACH $340.00 1 $340.00 55 2503.602 SEWER RISER OVER EXISTING LATERAL EACH $1,000.00 6 6 $6,000.00 56 2503.603 10" PVC PIPE SEWER - SDR 26 LIN FT $24.00 860 775 0 $18,600.00 57 2503.603 TELEVISE SANITARY SEWER LIN FT $1.50 1785 1785 0 $2,677.50 58 2506.602 CASTING ASSEMBLY (MANHOLE) EACH $300.00 9 10 0 $3,000.00 59 2506.603 CONST 48" DIA SAN SEWER MANHOLE LIN FT $120.00 210.6 208.7 0 $25,044.00 60 2621.601 DEWATERING LUMP SUM $100,000.00 1 1 0 $100,000.00 Totals For Section Schedule C -Sanitary Sewer: $207,224.50 Schedule D -Storm Sewer 61 2501.515 18" RC PIPE APRON EACH $400.00 1 1 0 $400.00 62 2501.602 TRASH GUARD FOR 18" PIPE APRON EACH $300.00 1 1 0 $300.00 63 2501.602 TRASH GUARD FOR 30" PIPE APRON EACH $800.00 1 1 0 $800.00 64 2501.602 TRASH GUARD FOR 48" PIPE APRON EACH $1,600.00 1 1 0 $1,600.00 65 2501.602 48" RC PIPE APRON WlPILING EACH $2,400.00 1 1 0 $2,400.00 66 2501.602 30" RC PIPE APRON W/PILING EACH $2,000.00 1 1 0 $2,000.00 67 2502.541 6" PERF PVC PIPE DRAIN LIN FT $6.00 320 480 0 $2,680.00 68 2503.541 15" RC PIPE SEWER DESIGN 3006 CLASS V LIN FT $24.00 570 566 0 $13,584.00 69 2503.541 18" RC PIPE SEWER DESIGN 3006 CLASS V LIN FT $30.00 630 628 0 $18,840.00 70 2503.541 24" RC PIPE SEWER DESIGN 3006 CLASS III LIN FT $32.00 495 493 0 $15,776.00 71 2503.541 30" RC PIPE SEWER DESIGN 3006 CLASS III LIN FT $42.00 625 632 0 $26,544.00 72 2503.541 36" RC PIPE SEWER DESIGN 3006 CLASS III LIN FT $55.00 500 506 0 $27,830.00 73 2503.541 48" RC PIPE SEWER DESIGN 3006 CLASS III LIN FT $92.00 400 408 0 $37,536.00 74 2503.603 TELEVISE STORM SEWER LIN FT $1.20 3220 3220 0 $3,864.00 75 2506.501 CONSTRUCT DRAINAGE STRUCTURE DESIGN 48-4020 LIN FT $220.00 72 78.84 0 $17,344.80 76 2506.501 CONSTRUCT DRAINAGE STRUCTURE DESIGN 54-4020 LIN FT $240.00 38 40 0 $9,600.00 77 2506.501 CONSTRUCT DRAINAGE STRUCTURE DESIGN 60-4020 LIN FT $290.00 19 18.6 0 $5,394.00 78 2506.501 CONSTRUCT DRAINAGE STRUCTURE DESIGN 78-4020 LIN FT $465.00 20.5 33.7 0 $15,670.50 79 2506.502 CONSTRUCT DRAINAGE STRUCTURE DESIGN SPECIAL 1 EACH $950.00 9 9 0 $8,550.00 80 2506.502 CONSTRUCT DRAINAGE STRUCTURE DESIGN SPECIAL 2 EACH $2,600.00 1 1 0 $2,600.00 81 2506.602 CASTING ASSEMBLY (MANHOLE) EACH $250.00 20 20 0 $5,000.00 82 2506.602 CASTING ASSEMBLY (CATCHBASIN) EACH $350.00 13 13 0 $4,550.00 83 2511.501 RANDOM RIPRAP CLASS III -GROUTED CU YD $60.00 20 24 0 $1,440.00 84 2511.604 FILTER FABRIC SO YD $1.00 250 250 0 $250.00 Totals For Section Schedule D -Storm Sewer: $224,753.30 Alternate No. 1 - Schedule A (Dalton Way Surtace) 85 2021.501 MOBILIZATION LUMP SUM $200.00 1 1 0 $200.00 86 2105.511 COMMON CHANNEL EXCAVATION CU YD $4.00 370 370 0 $1,480.00 87 2112.501 SUBGRADE PREPARATION ROAD STA $50.00 5.5 5.5 0 $275.00 88 2211.501 AGGREGATE BASE CLASS 5 MOD TON $8.75 1960 1800 0 $15,750.00 89 2350.501 TYPE MV 3 WEARING COURSE MIXTURE (B) TON $54.75 260 260 0 $14,235.00 90 2350.502 TYPE MV 2 NON WEARING COURSE MIXTURE (B) TON $47.50 350 350 0 $16,625.00 91 2350.502 TYPE MV 3 NON WEARING COURSE MIXTURE (B) TON $47.50 350 350 0 $16,625.00 92 2357.502 BITUMINOUS MATERIAL FOR TACK COAT GALLON $2.00 325 325 0 $650.00 • • 3 of 5 01627-57 -Pay Voucher 6 Monday, November 03, 2008 Item No. Item Description Units Unit Price Contract Quantity Quantity to Date Current Quantity Amount to Date 93 2531.501 CONCRETE CURB & GUTTER DESIGN 8618 LIN FT $8.85 890 477 477 $4,221.45 94 2563.601 TEMPORARY TRAFFIC CONTROL LUMP SUM $0.01 1 1 0 $0.01 2564.531 SIGN PANELS TYPE C SQ FT $50.00 8 6.25 6.25 $312.50 2564.602 F&I SIGN PANEL TYPED EACH $300.00 2 2 2 $600.00 97 2564.603 4" SOLID LINE WHITE-EPOXY LIN FT $0.60 940 940 $564.00 98 2564.603 24" SOLID LINE WHITE-EPOXY LIN FT $6.00 2 20 20 $120.00 99 2564.603 4" DOUBLE SOLID LINE YELLOW-EPOXY LIN FT $1.20 `'. , 479 ~ 470 $564.00 100 2573.530 INLET PROTECTION TYPE C EACH $100.00 2 "'" 0 $0.00 101 2575.605 SEEDING, MIX 150 (INCL. FERT. & MULCH) ACRE $600.00 0.2 $120.00 Totals For Section Alternate No. 1 - Schedule A (Dalton Way Surf $72,341.96 Alternate No. 1 - Schedule B (Dalton Way Watermain) 102 2504.602 HYDRANT EACH $2,300.00 3 3 0 $6,900.00 103 2504.602 6" GATE VALVE AND BOX EACH $800.00 3 3 0 $2,400.00 104 2504.602 8" GATE VALVE AND BOX EACH $1,050.00 3 3 0 $3,150.00 105 2504.602 12" GATE VALVE AND BOX EACH $1,800.00 1 2 0 $3,600.00 106 2504.603 6" WATER MAIN-DUCT IRON CL 52 LIN FT $24.00 90 91 0 $2,184.00 107 2504.603 8" WATER MAIN-DUCT IRON CL 52 LIN FT $28.00 145 144 0 $4,032.00 108 2504.603 12" WATER MAIN-DUCTILE IRON CLASS 50 LIN FT $30.00 570 638 0 $19,140.00 109 2504.608 DUCTILE IRON FITTINGS POUND $1.40 2140 1968 0 $2,755.20 Totals For Section Altemate No. 1 - Schedule B (Dalton Way Watermain): $44,161.20 Alternate No. 1 - Schedule C (Dalton Way Sanitary Sewer) 110 2503.511 8" PVC PIPE SEWER W/ TRACER WIRE LIN FT $20.50 190 199 0 $4,079.50 111 2503.602 SEWER RISER EACH $350.00 3 3 0 $1,050.00 112 2503.602 10"x8" PVC WYE EACH $280.00 3 3 0 $840.00 113 2503.603 10" PVC PIPE SEWER - SDR 35 LIN FT $24.00 590 670 0 $16,080.00 114 2503.603 TELEVISE SANITARY SEWER LIN FT $1.50 590 600 0 $900.00 115 2506.602 CASTING ASSEMBLY (MANHOLE} EACH $300.00 3 3 0 $900.00 6 2506.603 CONST 48" DIA SAN SEWER MANHOLE LIN FT $120.00 61.5 61 0 $7,320.00 Totals For Section Altemate No. 1 - Schedule C (Dalton Way Sanitary Sewer): $31,169.50 Alternate No. 1 - Schedule D (Dalton Way Storm Sewer) 117 2501.515 15" RC PIPE APRON EACH $350.00 1 1 0 $350.00 118 2501.602 TRASH GUARD FOR 15" PIPE APRON EACH $270.00 1 1 0 $270.00 119 2502.541 6" PERF PVC PIPE DRAIN LIN FT $6.00 160 160 0 $960.00 120 2503.541 15" RC PIPE SEWER DESIGN 3006 CLASS V LIN FT $24.00 300 298 0 $7,152.00 121 2503.603 TELEVISE STORM SEWER LIN FT $1.20 300 300 0 $360.00 122 2506.501 CONSTRUCT DRAINAGE STRUCTURE DESIGN 48-4020 LIN FT $255.00 15 15 0 $3,825.00 123 2506.502 CONSTRUCT DRAINAGE STRUCTURE DESIGN SPECIAL 1 EACH $950.00 1 1 0 $950.00 124 2506.602 CASTING ASSEMBLY (MANHOLE) EACH $250.00 2 2 0 $500.00 125 2506.602 CASTING ASSEMBLY (CATCHBASIN) EACH $350.00 2 2 0 $700.00 126 2511.501 RANDOM RIPRAP CLASS III -GROUTED CU YD $60.00 10 12 0 $720.00 Totals For Section Alternate No. 1 - Schedule D (Dalton Way Storm Sewer): $15,787.00 Change Order 1 127 92810 STORM SWR EXT TO SPIKE PROP/GRADING AROUND AVR SITE LUMP SUM $40,000.00 1 1 0 $40,000.00 Totals Far Change Order 1: $40,000.00 Project Totals: $1,026,330.77 • 4of5 01627-57 -Pay Voucher 6 Monday, November 03, 2008 Project Payment Status Owner: City of Monticello Client Project No.: 2006-15C Client Contract No.: Project No.: 01627-57 Contractor: R. L. Larson Excavating, Inc. ®A cont ract cnan es No. Type Date Description Amount C01 Change Order 6/21/2007 Additional contract quantity -storm sewer extension to Spik rope nd grading around AVR site. $40,000.00 Change Order Totals: $40,000.00 Pavmant Cnmmarv No. From Date To Date Payment Total Payment Retainage Per Payment Total Retainage Completed 1 10/4/2006 10/31/2006 $262,538.25 $262,538.25 $13,817.80 $13,817.80 $276,356.05 2 11/1/2006 11/30/2006 $435,781.05 $698,319.30 $22,935.85 $36,753.65 $735,072.95 3 12/1/2006 5/31/2007 $44,832.90 $743,152.20 $2,359.62 $39,113.27 $782,265.47 4 6/1/2007 8/31/2007 $132,183.61 $875,335.81 $6,957.04 $46,070.31 $921,406.12 5 9/1/2007 6/30/2008 $74,280.03 $949,615.84 $3,909.47 $49,979.78 $999,595.62 6 7/1/2008 10/23/2008 $25,398.39 $975,014.23 $1,336.76 $51,316.54 $1,026,330.77 Payment Totals: $975,014.23 $51,316.54 $1,026,330.77 Project Summary Material On Hand: Total Payment to Date: Total Retainage: Total Amount Earned: $0.00 $975,014.23 Original Contract: $51,316.54 Contract Changes: $1,026,330.77 Revised Contract: $1,003,560.02 $40,000.00 $1,043,560.02 • 5 of 5 EDA 11.12.08 5. Public Hearing and approval to amend EDA Tax Increment Financing Business Subsidy Criteria and continue public hearing related to GMEF Business Subsidy Criteria. A. REFERENCE AND BACKGROUND: The Economic Development Authority (EDA) held a public hearing and approved the amended TIF and GMEF Business Subsidy Criteria at their October meeting. Subsequent to the EDA meeting, Commissioner Tapper reviewed the documents in great detailed and notified staff that the criteria approved were not reflective of previous discussions and actions taken by the EDA. GMEF: Staff is requesting that the EDA open and continue the public hearing related to the Greater Monticello Enterprise Fund (GMEF). Staff recently became aware the GMEF contains a pool of funding that requires greater restrictions for disbursement. Staff would like the opportunity to complete further research regarding how these monies can be disbursed; along with obtaining current fund . balance information. Motion to open and continue to the public hearing to the December EDA meeting regarding amendments to the Greater Monticello Enterprise Fund Business Subsidy Criteria. TIF: City Staff and Commissioners Tapper and Fair reviewed the TIF criteria in detail. Efforts have been taken to correct the documents to reflect the desires of the EDA and provide a systematically structured document. In an attempt to minimize confusion, staff will provide a line by line verbal presentation outlining what wording changes were made and how the document was reformatted. In general, the TIF Business Subsidy Criteria was not been substantially changed. The general policy, criteria, and approval measures are still intact. Majority of the changes relate to grammar corrections, deletion of duplicate statements, and overall layout. B. ALTERNATIVE ACTION: 1. Motion to approve the amended Tax Increment Financing Business Subsidy Criteria. 2. Motion to deny the amended Tax Increment Financing Business Subsidy Criteria. 3. Motion to table any action on the amended Tax Increment Financing Business Subsidy Criteria. C. STAFF RECOMMENDATION: City Staff recommends approving the amended Tax Increment Financing Business Subsidy Criteria. D. SUPPORTING DATA: Proposed amended Tax Increment Financing Business Subsidy Criteria is attached. • • • EDA - Tff Business Subsidy Criteria • M011'fICELLO CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY Business Subsidy Criteria Tax Increment Financing 1. PURPOSE 1:01 The purpose of this document is to establish the City of Monticello Economic Development Authority's (hereinafter referred to as EDA) criteria for granting of business subsidies, as defined in Minnesota Statutes 116J.993, Subdivision 3, for private development. These criteria shall be used as a guide in processing and reviewing applications requesting business subsidies. 1:02 The criteria set forth in this document are guidelines only. The EDA reserves the right in its discretion to approve business subsidies that vary from the criteria stated herein if the EDA determines that the subsidy nevertheless serves a public purpose. The EDA will file evidence of any deviation from these criteria with the Department of Trade and Economic Development in accordance with Minnesota Statutes, section 116J.994, Subdivision Z. 1:03 The EDA may amend the business subsidy criteria at any time. Amendments to these criteria are subject to public hearing requirements pursuant to Minnesota Statutes, Sections 116J.993 through 116J.994. 2. STATUTORY LIMITATIONS 2:01 In accordance with the Business Subsidy Criteria, Business Subsidy requests must comply with applicable State Statutes. 3. ELIGIBLE USES: 3:01 The EDA will abide by Minnesota State Statutes in determining eligible uses. These uses may included, but are not limited to, land acquisition, site improvements, public improvements, demolition, and relocation costs 1 EDA - TIF Business Subsidy Criteria 4. TAX INCREMENT PROJECT EVALUATION CRITERIA 4:01 Business Subsidy proposals must meet a public purpose in addition to increasing tax base; which can include but are not limited to, the creation of livable wage jobs, removal of blight, and environmental clean up. 4:02 The EDA will utilize Tax Increment financing to support the community's long-term economic, redevelopment, and housing goals stipulated in the Comprehensive Plan and Zoning Ordinance. Required changes to the plan and ordinances must be under active consideration by the City at the time of approval. 4:03 The EDA shall use the following guidelines when evaluating a tax increment financing request. A. All business subsidy requests shall meet the "but for" test. The "but for" test means that the project would not develop solely on private investment in the reasonable future. The developer shall provide findings for the "but for" test. B. Business subsidies will not be provided to projects that have the financial feasibility to proceed without the benefit of the subsidy. In effect, business subsidies will not be provided solely to broaden a developer's profit margins on a project. C. Business subsidy request should create the highest feasible number of jobs on site from date of occupancy where deemed appropriate. D. For manufacturing and warehousing business subsidy requests, at least 90% of the jobs created must pay at least 160% of the federal minimum wage requirements for individuals over the age of 20 during the term of the assistance. In the case of a recipient with existing jobs, the EDA may determine that the wage goal is satisfied if wages are increased to at least the minimum specified in this paragraph. Annual written reports are required until termination date. Failure to meet the job and wage level goals require partial or full repayment of the assistance with interest. E. In the case of a recipient with existing jobs, the EDA may determine that the wage goal is satisfied if wages are increased by a specified amount over the federal minimum wage. Annual written reports are required until termination date. Failure to meet the job and wage level goals require partial or full repayment of the assistance with interest. F. Business subsidy requests should result in a substantial increase in property value and/or property taxes. F. Business subsidy requests should facilitate redevelopment or elimination of "substandard" or "blighted" areas where deemed appropriate. G. Business subsidy requests should facilitate the "clean-up" of environmentallyunsound property where deemed appropriate. • • • 2 EDA - TIF Business Subsidy Criteria H. Business subsidy requests should increase housing options for area residents where deemed appropriate. 5. BUSINESS SUBSIDY APPROVAL CRITERIA 5:01 All new projects considered by the EDA should meet the following minimum approval criteria. However, it should not be presumed that a project meeting these criteria will automatically be approved. Meeting these criteria creates no contractual right on the part of any potential developer or the EDA. 5:02 Prior to approval by the EDA, the developer shall provide any and all applicable and required market and financial documentation, appraisals, soil boring, information provided to private lenders for the project, and other information or data as requested. 5:03 A recipient of a business subsidy must make a commitment to continue operations at the site where the subsidy is used for at least five years after the benefit date. 5:04 The EDA may determine job creation or retention is not a goal of the subsidy. In those cases, the recipient must instead meet at least one of the following minimum requirements (in addition to all other criteria in this document other than those relating to jobs and minimum wages): A. The proposed subsidy must accomplish removal, rehabilitation or redevelopment of "blighted areas" as defined in Minnesota Statutes, Section 469.002, Subd.l 1, or must' constitute a cost of correcting conditions that allow designation of redevelopment districts under Minnesota Statutes, Sections 469.174 to 469.179; or B. The proposed subsidy must result in improvements to public infrastructure or public facilities, including without limitations, sewers, storm sewers, streets, parks, recreational facilities, and other City facilities; or C. The proposed subsidy must remove physical impediments to development of land, including without limitations poor soils, bedrock conditions, steep slopes, or similar geotechnical problems. 6. PROCEDURES 6:01 Meet with appropriate Staff to discuss the scope of the project, define public assistance requested, identify public participation eligibility, and other information as may be necessary. 6:02 The request shall be reviewed by Staff on a preliminary basis as to the feasibility of the project. 6:03 The project concept shall be placed on the EDA agenda for concept review. The applicant will make a presentation of the project. Staff will present its findings. 6:04 If EDA concept review is positive, Staff will provide the City Council with an informational concept review. 3 EDA - TIF Business Subsidy Criteria 6:05 The City will hold all required public hearings. 6:06 The applicant will execute and submit the Preliminary Development Agreement accompanied by a deposit per approved fee schedule. 6:07 Building and site plans will be required to be submitted to the Community Development Department. 6:08 If Planning and Zoning Commission action is required, it will be necessary for the applicant, at this time, to make application to the Commission. 6:09 Staff will authorize the following steps: A. Preparation for establishment of the Tax Increment Finance District and the Tax Increment Financing Plan if required. B. Preparation of the Purchase and Development Contract or Private Redevelopment Contract (Subsidy Agreement) based upon agreed terms. 6:10 When action is required for the Tax Increment Finance District and Plan, Purchase and Development Contract or Private Redevelopment Contract, or Zoning/Ordinance; the EDA, Planning Commission and City Council shall take appropriate action such as public hearings and consideration of approvals. 6:11 Building permit will be issued after the Tax Increment Finance District and Plan is approved by the City Council, the Purchase and Development Contract or Private Redevelopment Contract is executed by the developer and EDA, and the Building Permit Fees are paid. 6:12 Generally Tax Increment Financing projects take between six to eight weeks from time of authorization to begin drafting plan and contract. History: Public Hearing and Adoption the 8th of September 1999 Public Haring and Adoption of Amendments the 4th day of October 2000 Public Hearing and Adoption of Amendments the 5th of May 2004 Public Hearing and Adoption of Amendments the 3rd day of May 2006 Public Hearing and Adoption the day of 2008 • 4 • EDA 11.12.08 6. Award TIF Management Analysis bid. Background: At their October 8, 2008 meeting, the EDA directed staff to draft and submit Request for Proposals (RFP's) to complete a TIF Management Analysis. Staff released the RFP on October 13, 2008. Three RFP's were received on October 29, 2008. The City received an RFP from Springsted, Ehlers, and Northland Securities. Two proposals are competitively structured and priced. The RFP's are proposing the following not to exceed costs: Springsted: $17,500 Ehlers: $11,500 Northland Securities: $10,250 Staff Recommendation: • Staff reviewed all three RFP's comprehensively. Northland Securities and Ehler's proposals are competitively priced, both firms have great credentials, and knowledge about Monticello. Northland Securities is the lowest bidder, they are qualified, and would provide a good working environment and end product. However, staff is recommending the contact be awarded to Ehlers. Although Ehler's proposal is slightly higher, staff is highly recommending the contract be award to Ehlers. The most notable reason is the fact that Ehlers has extensive experience and background working directly with TIF districts in Monticello. They have served as the City's financial and TIF consultant for many years. Obtaining this history and direct TIF experience in Monticello in a timely manner will be somewhat challenging for another consulting firm. Especially due to the fact that the Economic Development Director is new to the City. Ehlers also provides expert financial recommendations when development proposals are received, they are a good resource in many facets (i.e. financial, business subsidy, and state statutes), and City Staff continues to receive prompt response from. their staff members. They are also currently working on the records retention project and are involved in discussions with staff and a developer related to a potential redevelopment proposal. r~ Staff also believes that Ehlers will be very effective and efficient in their time • management. It is possible that they would not utilize as many hours as anticipated and therefore reduce the overall project cost. Action: 1. Motion to approve the proposal by Ehlers to complete a TIF Management Analysis at a cost not to exceed $11,500. 2. Motion to table action for further information. • • A Proposal to the City of Monticello and Monticello EDA For TIF Analysis and Strategy October 29, 2008 Submitted By: EHLERs ASS4GIATES !NC 3060 Centre Pointe Drive Roseville, MN 55113 (651 } 697-8500 Introduction Ehlers advises numerous Minnesota communities, including Monticello, in the area of public finance. One specialty of our firm is the implementation, negotiation, and administration of TIF districts. Our experience with many communities is that a flurry of activity occurs when the TIF district is established and the development agreement is signed, but that the ongoing management and strategic use of TIF districts becomes a secondary priority. Ehlers is experienced in helping clients bring their TIF reporting and administration up to date, and evaluate their options for using this valuable development asset. We are pleased and honored that we have had the opportunity to work with the City of Monticello in establishing, modifying and administering TIF districts for over ten years. This work has included a TIF financial management plan completed in 2006, which will serve as the foundation for this proposed analysis. Scope of the Project -TIF Financial Management Plan The City's requested scope of service fora "TIF District Management Plan" matches the typical scope of Ehlers' TIF Financial Management Plan (FMP) almost exactly. A TIF FMP is a comprehensive financial review and prospective plan for the Monticello EDA TIF Districts. The FMP will project future tax increment and other revenues over the life of the district, as well as all existing obligations. Likely revenue gaps or excesses can then be identified. This process will provide you with financial information to guide policy decisions related to the future administration of the EDA's 34 existing TIF districts and all related obligations. • Standard FMP Scope of Services / Specifics of each TIF district and rules affecting each district such as four and five year rules, compliance with on-going reporting, and legislative changes relevant to each district. / Development agreement issues including status of pay-as-you-go notes and other City/EDA and/or developer compliance issues. / Cash flow projections for each district to determine if revenues are sufficient to meet obligations, and whether pooling and/or decertification opportunities exist. / Office of the State Auditor (OSA) reporting issues, including verification of key dates. Additional FMP Services der City RFP / Review of 2006 and 2007 OSA reporting forms for any questions or concerns / Review and reconciliation of district modification dates in City/EDA records and possibly the OSA's district database. Special Services related to TIF District 1-22 It is our understanding that the City wishes to analyze various special issues surrounding it TIF 1-22. The basic analysis of TIF 1-22, which is included in the above Scope of Services, encompasses analyzing the current financial status, determining the projected uncommitted surplus balance, and outlining the eligible uses of surplus TIF. In addition, we understand the City wishes to take a more specific look at how surplus TIF might be used to facilitate further downtown redevelopment, and to evaluate whether the Transformation Loan program is still viable to use within the district. We expect this TIF 1-22 analysis may overlap with and inform the City's analysis of the proposed Vantage Point development and/or other specific downtown redevelopment proposals. However, we will be clear in separating time spent on this overall TIF analysis and strategy exercise from project-specific work. • Project Cost and Completion Date We estimate that the time required to complete the scope of service as detailed in the City's RFP would be approximately 62 hours, at our standard hourly rate of $185. Ehlers therefore proposes to complete this TIF analysis and strategy project on an_hourly basis, with a maximum project fee of $11,500. If a change in the scope of work makes it likely that our costs will exceed the maximum fee, we will obtain the City's and/or EDA's consent before incurring additional costs. Please note that all costs are payable from the administrative fees associated with the current TIF districts. The contract amount will include the delivery of the required copies of each draft and final report, and all travel and incidentals. Upon City and EDA approval of this proposal, we estimate a completion date of 8-10 weeks. Materials/Services to be Provided by the HRA Since Ehlers prepared a TIF FMP for Monticello in 2006, we would be building off the model we have and updating it for current activity. Thus we currently have a great deal of information on hand from which to prepare the report. However, City and EDA staff will be asked to provide expenditure and revenue reports for the years following the 2006 analysis. Project Staff Ehlers staff expected to contribute to the project are Bruce Kimmel, Elizabeth Diaz and Todd Hagen, and others as needed. All three primary members of our team have extensive TIF management experience. References City of Columbia Heights Scott Clark, CDA Director, 763-706-3600 City of Plymouth City of St Louis Park City of Rogers Jodi Bursheim, Director of Administrative Services, 763-509-5000 Greg Hunt, Economic Development Coordinator 952-924-2500 Lisa Wieland, Finance Director 763-428-2253 __ _ t ' _,_ ~ ~ ~. ~. l ~e~~~~l ~rr~~i a~~ ~~ ~~~~p~ ~ t~~c®,~r~~~~i~~ Ci ~~ii~c~~i X ~ob~r~ ~, ~~ ~ ° ,#. NORTHLAND =_~~~`SECURITIES ~r . ~ ._ _ .. _ _ _ _ _ .. __ ~ .._ .:,. _ ; NORTH LANDSECURITIES October 29, 2008 Megan Barnett Economic Development Director City of Monticello 505 Walnut Street #1 Monticello, MN 55362 RE: Proposal for Strategic TIF Management Plan Dear Megan: Northland Securities, Inc. is very pleased to offer this proposal to assist you with the creation of a stra- tegic plan for the management of tax increment financing districts in Monticello. We have prepared this proposal based on your Request for Proposals, the information gathered at our meeting on October 23 and our past work in Monticello. This proposal explains Northland's qualifications and approach for undertaking this project. We are confident that you will find this proposal is unique and offers the best solution to your TIF management needs. This proposal also reflects the qualities that we bring to our work. The scope of work described in this proposal addresses the needs of Monticello, as we understand them. We would welcome the opportunity to discuss changes to our proposal that would enhance the results of this project and maximize the benefits from your investment of EDA funds and staff time. We are ready to begin work immediately upon selection and to complete a draft report on our work by the end of 2008. Once again, our thanks for the opportunity to submit this proposal. Do not hesitate to contact me with any questions about this proposal. Sincerely, Northland Securities, Inc. .. _.~ ~j {~ ~~~' J. Russell ifield, Jr. Senior Vice President • Northland Securities, Inc. 45 South 7th Street, Suite 2500, Minneapolis, MN 55402 Toll Free 800-851-2920 Main 612-851-5900 Member FINRA and SII'C Northland Securities, Inc. (Northland or NSI) has prepared this proposal around three basic objectives: • Explain how we will help the City of Monticello and the Monticello Economic Development Authority (EDA) make best use of its tax in- crement financing (TIF) resources. • Describe NSI's qualifications for serving Monticello. • Distinguish NSI from other alternatives available to the City/EDA. In reviewing this proposal, we believe you will find several factors that clearly distinguish NSI from ail other options for undertaking this project. The Right Experience NSI cannot claim to have the most experience in advising cities on the use of TIF. The most experience does not equal the best experience. NSI provides Monticello with experience that makes us uniquely suited to undertaking this project. The staff of NSI have significant experience in the creation and management of TIF districts (see page 5). This experience provides the knowledge and skills required to undertake this project. Rusty Fifield (NSI's lead staff person for. this project) brings direct experience in working for the City of Monticello. This experience gives him unique in- sights on the community and the context for the future use of TIF. His strong working relationships with staff and policy makers will be an asset in com- pleting the project and reaching agreement to use its recommendations. Approach The creation of a strategic management plan for TIF districts requires certain tasks that must be undertaken by any firm selected by the City. There will be little meaningful difference between firms in undertaking the technical work of compiling information about each TIF district. The difference between firms will come in how each firm will use this information to help Monticello successfully manage its TIF resources. NSI's approach is based on: • A collaborative working relationship with City staff to ensure that re- sults meet your needs and that you learn and understand. • Unique insights from the Comprehensive Plan process that guide on how to use current and future TIF resources. • Commitment to use the project as a means to create tools for staff to use and to minimize unnecessary use of future consulting services. Timing One advantage of NSI is the capacity to begin work immediately and to com- plete the project promptly. Rusty Fifield is a recent addition to Northland's staff and his special projects group is a new business venture for NSI (see page 4). As one of the first projects for Rusty and his group, we have the ability to devote significant time and energy to Monticello's TIF management plan. Proposal Overview Proposal for Analysis and Strategy Recommendations Tax Increment Financing Districts ~+~~+ • ~'~i NSI's experience evith fhe 2008 Monticello Comprehensive Plan provides NSI with unique insights about the potential future use of TIF. Cost Effective These challenging economic times heighten the importance of cost effective consulting services. The NSI proposal gives Monticello great value - excel- lent services for a reasonable fee. We are able to accomplish this through ex- perience and approach. Our experience allows us to work efficiently. Our approach conducts much of the work in Monticello to minimize delays and avoided wasted time. As noted earlier, we are also committed to services that are cost effective over the long run. We seek to avoid unnecessary use of con- sulting services by educating staff and providing effective tools for managing TIF. The economic benefits extend well beyond this project by helping Monti- cello direct TIF resources to the important issues facing the community. The remainder of this proposal describes our qualifications and approach to serving Monticello in greater detail. D Propcsal fcr Analysis and Strategy Recemmendaticns ~ Tax increment financing Disnitts u~v ~ rcuu~ Northland Northland Securities, Inc. was founded in the fall of 2002 by a core of public Profile finance professionals. The veterans of that early organization represent over 400 years of experience and come from both national and regional financial Northland currently has over 100 employees, 34 of whom are shareholders. Three Northland Securities professionals, all of whom are senior members of the firm, will be dedicated to the fulfillment of the engagement. Northland Securities, located in Minneapolis, Minnesota with branch offices in South Da- kota, Minnesota and Montana, is a full service financial services firm. advisory and investment banking firms, all with one common focus -Mid west bond issuers. The Public Finance Department of Northland Securities can draw upon the municipal underwriting, trading and sales expertise of the firm. Market in- formation, bond buyer questions and upcoming transaction information flow freely through these various elements. Regular public finance and specialty group meetings draw upon the expertise of both municipal underwriting and sales. Since its inception, Northland Securities has become a key participant in the financial services industry, particularly in the Midwest. During the past three and a half years, Northland has completed over $1.5 billion of financing for communities. Our Client Service Approach The Public Finance Department of Northland Securities is a very "hands-on" financial advisor and we provide a highly customized and personalized level of service to meet our clients' unique needs. We exist as a counterpoint to a general financial advisory business, in that we do not emphasize the "process- ing" of "deals' in a uniform, "one-size-fits-all" fashion. Our clients look to Northland to provide innovative, yet prudent solutions and opportunities in their financial affairs. Northland structures and prepares debt offerings for sale on either a competitive, negotiated or private placement basis. In addi- tion to bond issue services, Northland provides services related to debt man- agementplanning, capital planning, investment management, budgeting, rev- enuesource analysis, tax increment planning, economic development finance, housing finance and. other matters of municipal finance. Our public finance professionals have an average experience level of twenty -three years with not one individual with less than twelve years in the field. Northland's approach to public finance and towards our clients is guided by the firm's business principles. The first business principle characterizes our approach best: "Our clients' interests always come first. Our experience shows that if we serve our clients well, our own success will follow." This approach is consistent with our commitment to long-term relationships. We are oriented toward satisfying clients' goals -not simply completing a financ- ing or "doing a trade." We know from experience that good advice, excellent service and trust are the foundations upon which relationships are built. If we have these, commercial success will follow. Fropcsal for Our approach is also characterized by our other guiding principles: Anaiysisand Strtegy Reccmmencaticns Tax Increment Financing Disvicts . ~~ Vt NI Kt1U.1 • "We have an uncompromising determination to achieve excellence in everything we undertake: ' • "We stress creativity and imagination in everything we do." • "For us to be successful, our men and women must reflect the diversi- ty of the communities and cultures in which we operate. That means we must attract, retain and motivate people from many backgrounds and perspectives." • "We stress teamwork in everything we do. While individual creativ- ity is always encouraged, we have found that team effort often pro- duces the best results." • "The dedication of our people to the firm and the intense effort they give their jobs are greater than one finds in most other organizations. We think that this is an important part of our success." • "We constantly strive to anticipate the rapidly changing needs of our clients and to develop new services to meet those needs." • "Integrity and honesty are at the heart of our business." These principles guide our day-to-day activities and, we believe, are the key to our success, which can be measure by the strength and depth of Northland's client relationships. Special Projects Group Northland is committed to constantly seeking new ways to serve our clients. The most recent client service initiative is the establishment of a "special proj- ects group". We recognize that the challenges that face our clients require new forms of advice and guidance. Rusty Fifield has joined Northland to lead our efforts to grow the ways we serve clients. The special projects group provides hourly consulting services in the areas of real estate development, group pro- cess, service studies and financial planning. Northland's special projects are based on four key principles: • Explore client needs and the range of possible solutions. • Analyze the issues to provide clear and accurate information for deci- sion making. • Ensure that the client Understands the alternatives and their implica- tions. • Conduct a process that creates the commitment to Act on results. These principles will guide the services we provide to Monticello. Proposal for Analysis and Strategy Recommendations ~® tax increment financinc Districts unrctiu i TIF Overview NSI provides comprehensive services related to tax increment financing. Our services cover all of the steps necessary to establish and or amend a tax incre- ment financing district, including authoring the tax increment district plan, developing the budget, performing detailed analysis and cash flow illustra- tions. We also assist with coordinating the legal filings and publications as well as documentation and presentation at public meetings. Because of our expertise with tax increment, we are often engaged to assist cities with the evaluation and risk assessment of development proposals as well as the re- view of development agreements. Through Northland Securities and previ- ous employers, our professionals have assisted cities and other government units with the establishment and or amendment of tax increment financing districts in more than 100 communities. This experience translates into the comprehensive understanding of tax incre- ment financing required to undertake this project. Project Examples The following summaries highlight previous project experience related to the needs of Monticello. EDA Financial Planning - St. Louis Park With over $40,000,000 in outstanding TIF bonds, tax increment financing was an essential financial management issue for the City. Rusty Fifield (while at Ehlers & Associates) assisted City Staff with financial analysis and planning for TIF districts and debt. The project focused on: 1. Projecting and testing future tax increment revenues from each TIF district. 2. Estimating LGA/HACA penalty amounts. 3. Designing a flow of funds to meet debt obligations and provide fund- ing for other projects. 4. Identifying bond covenant and arbitrage compliance issues. 5. Identifying future debt management objectives and opportunities. This plan enabled the City to explore the capacity to use existing TIF districts to meet future redevelopment needs. This plan was an important tool in the financial planning that lead to the Excelsior and Grand redevelopment project. The City updates this study on an annual basis and cotinues to use it as a valu- able TIF management tool. Reference: Mr. Tom Harmening, City Manager (952) 924-2526 Relevant Experience . Proposal fcr Anatysisar:d Strategy Recommendations Taxnuement Financing Districts ~~ • ~'7 • Image from zvzvzu.excelsiorandgrand.com • Grandview Square Redevelopment -Edina Grandview Square is a $75 million mixed use redevelopment project in Edina. The project contains 96,000 square feet of Class A office, 170 housing units and a 36,000 square foot public facility housing a library and senior center. Rusty Fifield (while with Ehlers & Associates) assisted the City in all aspects of TIF and public financing. His services included TIF district amendments, establishment of a hazardous substance subdistrict, evaluation of developer proposals, preparation of cash flaw projections and feasibility analysis, and negotiation of development agreement. Rusty has served the City of Edina on a wide range of projects since 1988. Reference: Mr. Gordon Hughes, City Manager (952)826-0401 TCAAP -Ryan Companies U.S. D • Image Prapcsal fcr Analysis and Strategy Recommendaticns ~ ~ Taz Increment Financing Districts .Kn i euw Ryan Companies has retained Rusty Fifield of I`~lorthland to assist with finan- cial planning and the use of TIF on the TCAAP redevelopment project. The Twin Cities Army Ammunitions Property (TCAAP) in Arden Hills will be one of the largest redevelopment projects in the Twin Cities. Rusty is working with Ryan staff to model and analyze the use of tax increment financing to facilitate this redevelopment. The TIF model was created specifically for this project. It estimates the property values and tax. increment revenues for each element and phase of this project. The tax increment projections integrate with the overall project proforma used by Ryan in evaluating alternative rede- velopmentconcepts. Reference: Mr. Eric Anderson, Director of Development (612)492-4629 Image from untnugrandviezusquare.com NSI has assembled a team of TIF experts to undertake this project and serve the City of Monticello. The NSI team brings an unequalled combination of ex- periencewith all aspects of tax increment financing and direct experience with Monticello to this project. This experience ensures that our work is accurate and it meets the needs of Monticello. Rusty Fifield will be the key staff person for Northland's work with Monti- cello. He will directly perform over 90% of the work provided by NSI. His experience, communication skills and knowledge of Monticello are essential elements of our service. Rusty is a Senior Vice President and responsible for the establishment of NSI's new special projects group. Rusty has worked with local governments in Minnesota for more than 30 years. For the past 25 years, he has served as an advisor to local governments providing financial and com- munity planning services. During his career, Rusty has worked with more than 100 Minnesota cities. Rusty has a long working relationship with the City of Monticello. He played a key role on the consulting team for the 1997 Downtown. and Riverfront Plan. He has advised the City on capital finance issues, including the design and implementation of the plan to finance the Community Center. Most recently, he assisted the City with updating its Comprehensive Plan. Through these projects, Rusty has developed a strong understanding of Monticello and the issues that influence the use of TIF. He has maintained positive working re- lationships with staff and policy makers. These assets will be valuable to the successful completion of the TIF management plan. Rusty's educational background includes a Master's Degree in Planning from the University of Minnesota's Hubert H. Humphrey Institute of Public Affairs and a Bachelor's Degree in Economics from Fort Hays State University (KS). Nick Skarich will be a technical resource for the Monticello TIF management plan. He will assist with the resolution of issues and the exploration of man- agement strategies. Nick is a Vice President with Northland Securities, Inc. His 13 years in the municipal finance industry includes experience at both the state and municipal level. He served as the contract director for the Economic Development Authority in the City of Grand Rapids, MN, and worked with the Itasca Development Corporation/Small Business Development Center, with an emphasis on the City of Grand Rapids. Nick also worked as a man- agement analyst in the Economic Development Division of the Iron Range Resources and Rehabilitation Agency. A representative listing of Nick's cur- rent tax increment clients include the cities of Battle Lake, Bayport, Bigfork, Biwabik, Cohasset, Ely, Gaylord, Hibbing, Itasca County, Minneapolis, Prior Lake and South St. Paul. Nick holds a Master's in Business Administration Degree (Finance} from the University of St. Thomas and a Bachleor's Degree in Business Administration/ Computer Information Systems from Bemidji State University. Nick is a certi- fied Economic Development Finance Professional with the National Develop- ment Council. Nick is a former commissioner on the City of Hugo Economic Project Personnel Proposal far Analysis and Strategy Recommendations lax Increment Financing Districts KNIAt1LJ • 7 • Development Authority. • Proposal fcr Anaiysk and Strategy Recommendations ~i~ Tax Increment Financing Districts ur ~ etlw Dick Asleson is a Senior Vice President and shareholder of Northland Securi- ties, Inc. He has been in the municipal finance business since 1988. Previous to 1988, he was the City Administrator and City Clerk/Treasurer for the City of Apple Valley, Minnesota for 17 years. During this time, the City's popula- tion tripled to 30,000 persons. His current clients include growing cities chal- lenged with infrastructure issues and economic development, mature cities that are addressing redevelopment issues, and small rural communities fo- cused on replacing aging infrastructure. Dick works with city clients related to capital planning, tax increment utiliza- tion and project financing. He has more than 20 years of experience working with cities on tax increment matters. Some of the cities for which he has or currently performs tax increment services include Elbow Lake, Fergus Falls, International Falls, LaCrescent, Luverne, Mountain Lake, Pine City, Renville, Wells, Hinckley, Waite Park, Watkins, Gaylord, Princeton, and more. Dick is a past member of the Board of Directors of the Minnesota Institute of Public Finance, a past Board member of the League of Minnesota Cities and a past president of the Association of Metropolitan Municipalities. He is an active member of Rotary Club of Apple Valley, MN. He is a graduate of the University of Minnesota with a degree in Business/Accounting and a licensed Registered Representative and licensed Principal with the Financial Industry Regulatory Authority (FINRA). The Request for Proposals contains a detailed description of the specific ser- vices desired by the City. There are certain technical tasks that must be per- formed by any firm to provide the necessary TIF management guidance. The key to evaluating the proposals will be distinguishing how the consultant will tailor the process to meet the needs of Monticello. The following section high- lights the strategies NSI will use to produce the best results from this project. Work in Monticello Significant elements of NSI's work plan will be performed in Monticello. We believe that this approach has several benefits: EffiCienCy-Working on site gives us immediate access to all records and staff. We are also able to clearly coordinate work to be performed by NSI and by City staff. Our requests for information and questions will be face-to-face instead of over the telephone or email. Education - A key element of the NSI approach is to help staff understand the opportunities and constraints related to existing TIF districts. By working on-site, staff has the ability to participate in our investigations and analysis with the flexibility to address other needs and projects. ReCOrdS Integrity -This approach protects the integrity of the records manage- ment project that will be undertaken. All district files will remain with the City. We will minimize the amount of duplicate photocopy information required for TIF management. Three key parts of NSI's work will occur in Monticello: Initial Investigations. Our proposal contains two working days in Monticello conducting initial research and compiling data. We will conduct this work immediately upon completion of the records man- agement project.. During this two-day period NSI will create district profiles (see below), review 2006 and 2007 annual reports, collect background information needed for other investigations, identify ad- ditional research to be done by City staff and by NSI and set date for staff workshop. Staff Workshop. NSI will conduct a workshop in Monticello to ex- plore initial findings and recommendations. It is likely that there will be multiple options for managing districts and the use of TIF. The workshop will be an interactive and collaborative session with staff. This approach ensures that the recommendations of the study are thoroughly understood and fit the needs of Monticello. EDA Workshop. NSI will design and conduct a workshop to present the final findings and recommendations to the EDA Commissioners. This workshop is a critical step in the process. Tl1e workshop will focus on the key TIF management issues for the EDA. The workshop is the first step to building EDA commitment to the implementation actions described in the study. Project Approach Proposal for Analysis ane Strategy Re~ommendatiens , Taz'ncremert Financir:a GistricL ~ Il~~ j ~KA'1 X.:1111 • • District Profiles • ry ~±~ ~ z 4 ~`~=~ `~ .~~ ,~ .-. ~ , ~, , ,; ,.: ~ ~` i~ Y ~ _ i i ~. J. t (Fz ~ L ~ ~_ ~.k 't ~1. ~ ~~_r 1~ ~ y~- s - i_ - The foundation of the study will be the creation of profiles for each existing TIF district. The profile begins with the 2006 Management Review and Analy- sis report. The report for this study contains basic information about each existing TIF district. We will use this information as the starting point for our work. NSI's approach to creating TIF district profiles consists of the following steps: • Review 2006 profile with staff and make any desired changes. • Review district records and verify (modify as needed) all basic district information. • Create profiles for new TIF districts established after completion of the 2006 study. NSI will work with staff to collect information needed to update the profiles and to conduct analysis for the project. This additional information includes: • Fund balance on December 31, 2007. • Tax rate for taxes payable 2008. • Tax Capacity value by parcel for taxes payable 2008 and 2009. • Estimated revenues and expenditures for 2008. • Future financial obligations. GIS Mapping NSI will identify each TIF district and its related project area by parcel num- ber. This information will enable City staff to prepare GIS mapping for dis- tricts and project areas. We will also explore other potential GIS applications as part of our work. We will provide "geocoded" data for all additional infor- mation recommended for GIS. Financial Model NSI will create a comprehensive financial model for all TIF districts. This Ex- celspreadsheet will contain a sheet for each TIF district. Each sheet will be for- matted in a manner consistent with State reporting requirements. Tl1e model will contain TIF reporting data for 2006 and 2007. NSI will create estimates for 2008 data and guidelines for adding actual 2008 data. This task will simplify the process of creating the 2008 annual reports. NSI will use this model to project future tax increment revenues and fund balances for each district. This model will be designed for use by City staff after completion of the project. Strategic Analysis The project must be more than an "audit" of existing TIF districts. It must serve as a guide for the future use of this important financial resource and de- velopment tool. For this reason, NSI's work plan has two basic parts. The first part deals with creating a complete and accurate base of information about Monticello TIF districts. The second part uses this information to explore is- sues related to the future management of these assets. Frapcsal fcr Analysis and Strategy Recommerdaticns ~~~ Tax Increment Financing Districts `,~~.~~~,u, Financial Projections NSI will use the financial model to estimate future revenues, expenditures and fund balance over the remaining life of the TIF district. We will use the model to test the implications of strategic issues and funding options discussed in this section. Future Values Recent history has demonstrated that development may not happen as ex- pected. As part of its data gathering, NSI will interview staff at the Wright County Assessor's Office to learn about recent trends and the outlook for fu- ture valuation of property in Monticello. NSI will create and test alternative development scenarios for TIF districts. The purpose of this analysis will be to identify critical factors that will affect the financial condition of TIF districts. Financial Obligations NSI will review district records to determine obligations connected to each TIF district. We will ensure that district records related to all obligations are clearly identified and accessible. The annual payments associated with these obligations will be made part of the financial projections. NSI will also evalu- ate any options for managing these obligations including prepay and restruc- turing. Project Areas The configuration of current and future project areas is an important factor in the TIF management study. The project area is important because it deter- mines where tax increment can be spent outside of the boundaries of the TIF district. NSI will: • Determine the boundaries of each project area. • Compile GIS parcel numbers for each project area. • Determine options (if any) to amend existing project areas. • Recommend guidelines for establishing project areas for future TIF districts. Downtown The downtown area of Monticello was one of the critical elements of the re- cent Comprehensive Plan update. The Plan recognizes the importance of the downtown and the need for on-going attention to this area. NSI will use this unique understanding to evaluate the application of existing TIF districts and finance tools related to the future of downtown Monticello. There. are several existing TIF districts in the planning area for downtown. They are located within the Central Monticello Redevelopment Project Area #1. The primary downtown TIF district is #1-22. The increment from this district is pledged to several bonds and notes. The 2006 estimated a future fund balance of $1,400,000. In addition to updated financial projections and analysis of statutory issues for these districts, NSI's work plan will explore use of these resources in con- text of future plans and needs in downtown. The Comprehensive Plan points to a variety of potential redevelopment needs for Downtown, including at- Proposal far Analysis and Strategy Recommendations Taz Increment Financing Districts , ~~ ~~~~uu~ 11 • tracting private investment, retaining existing business, providing adequate parking, improving traffic congestion on Highway 25, and improving access to adjacent neighborhoods. It is unlikely that the available TIF resources will be able to address of these needs. We will assist the City in creating a process for determining how to make best use of these limited resources. industrial Land/lob Growth i Frcpcsai fcr Analysis anal ~tratecy Recommendations e G Districts Taz Incr ment Financin V[i~ I ICkLW Creating new head-of-household jobs is one of the top priorities in the Com- prehensive Plan. In addition, providing the necessary land for the creation of "places to work" is a critical land use issue for Monticello. NSI will evaluate two critical issues: • How can tax increment from existing districts in industrial areas be used to facilitate future development? • How can future TIF districts be used most effectively to meet the job and business growth objectives of Monticello? TIF Reports NSI will use the information collected in this project to evaluate the 2006 and 2007 annual TIF reports. If necessary, we will propose revisions to these re- ports and outline the process for making the amendments. The information in the district profiles will contain preliminary data for the 2008 annual reports. Our report will contain recommendations to facilitate completion of the 2008 report and in completing future reports. GIS GIS offers a potentially powerful TIF management tool. At a minimum, NSI will assist the City in the use of GIS to map all TIF districts and project areas. Further, NSI will work with City staff and WSB and Associates (source of GIS support for the City) to consider other GIS application that can be easily devel- oped from the data compiled by NSI during the study process. Administrative Expense As part of our district investigations, NSI will determine the approach used to finance up-front anal ongoing administrative expense in each district. This information will be made part of the district profile. NSI will use this informa- tion to work with City staff to evaluate options and to make recommendations for applicant fee and ongoing administrative expense policies. Study Report NSI is committed to giving Monticello a final study report that serves as an in- valuable tool for TIF management. The study report will consist of three parts: Executive Summary. The Executive Summary section will contain a clear and concise overview of the study purpose and findings. All recommendations will be included in this section for convenient refer- ence and use. The 2006 report places some recommendations with the individual TIF districts that tend to get overlooked. This section will also include guidance on annual in-house updates on TIF manage- ment to ensure necessary steps are taken. 2. Technical Report. The second section of the study report will be a compilation of the study approach, information collected and find- ings of the study process. It is important that this information is com- piled and reported for future reference. Using this approach achieves this objective without requiring a reader to wade through all of this information to get to the key points. 3. Financial Projections. The final section of the report will contain the financial projections for each district. This organization makes the projections easily accessible. If desired, the City can replace this sec- tion with updated analysis each year. The sections of the electronic version of the report will be "hyperlinked". With a click of the mouse, the reader will be able to move among sections of the report. NSI deliverables for this project include: • One printed full color copy of the report. • High resolution PDF file for printing. • Low resolution PDF file for publication on City website. • Excel file with financial projections for each district. • All document. (Adobe InDesign) and graphic files used in the report. Legal Support 1VSI recognizes that the resolution of some issues related to the use of TIF may require legal guidance. We propose to use the EDA's TIF legal counsel (Steve Bubul at Kennedy & Graven) for this purpose. We have allocated a portion of the project budget for the City to pay for these services. Proposal for Analy<is and arategy Recommendations Tax Increment Financing Districts i®l~ wcnrxxiw Ct~st of Services and Schedule Cost of Services NSI will perform all services necessary to complete the analysis and strategy recommendations for Monticello TIF districts at a cost not to exceed $10,250. This budget is based on the estimated staff time required to complete the tasks described in this proposal plus reimbursable expenses (mileage, printing and delivery services). The budget also includes up to $1,000 for legal expense for consultations with Steve Bubul at Kennedy & Graven. NSI will bill on a monthly basis for services provided. Schedule NSI is ready to begin work immediately upon selection by the City/EDA and the completion of the records management project. Depending on the avail- ability of district records, we are committed to conducting our initial work- ing days in Monticello no later than December 5. We will work with staff to schedule the staff and EDA workshop at the earliest opportunities, given the constraints of the holiday season. NSI is committed to providing final deliver- ables no later than January 31, 2009. r Proposal for ~ Analysi< and Strategy Recommendations lax Increment Financing Districts ttNiY.2LUY S. Re ort from Executive Director. General: The City will be hosting. a Natural Resource Inventory information meeting on Monday, November 10, 2008 from 5:00-6:30 at City Hall. The City will be hosting a Transportation Workshop on Wednesday, November 19, 2008 from 5:00 - 6:30 at Swan River. IEDC: Staff is regretful to announce that Mike Benedetto has decided to resign from the IEDC. Attached is a copy of the November S, 2008 IEDC meeting agenda and staff update. Business Retention: The Business Newsletter is being ready to be launched come January of 2009. Staff is looking for a volunteer to help in writing the first article from the EDA's perspective. Attached is a draft copy (content to follow next month). Business Initiative: The direct marketing piece is underway. Staff anticipates the piece should be completed within the next month and ready to be mailed and personally distributed to potential viable businesses. • It should be noted that staff has received inquiries regarding the City's industrial park and potential redevelopment within the downtown. In the event any of these prospects proceed further, staff will update the EDA. Housing Initiatives: Transformation Loan: The Transformation Loan program was initially launched to assist in rehabilitating substandard homes within the "core city" limits. The loan program was initially a pilot project that has been extended for approximately two years. Approximately three loans were given to resident from 2006 to 2008. The funding source for these loans came from surplus TIF in District 1-22. The pilot project was only authorized until the end of 2008. While the Transformation Loan is a great financial tool for residents to utilize, it seems appropriate to wait to take further action on continuing the Transformation Loan until the TIF Management Analysis has been completed. Staff has been attending seminars relating to programs offered by the MN Financing Agency. A variety of loans and grant programs exist to help residents and community rehabilitate substandard housing. Opportunities exist for individuals to contact local participating lenders to obtain low interest loans to "fix-up" their residential home. Communities can also look at a broader spectrum and obtain funding to provide • 1 improvement needs to the community. The State is also providing free educational seminars on foreclosures, both prevention and how to properly process a foreclosure. Programs also exist for first time home buyers to help assist in a down payment. These funding opportunities are being communicated to the residents by both the City newsletter and through the website. Staff is in the process of establishing a meeting with local lenders to gauge their interest in potentially participating in these state aided programs. Staff would also like to establish an open communication with lenders regarding how vacant homes are being handled. The City and banks will need to work together to ensure public safety is intact and city codes are being followed. Wright County Community Action Programs: Staff meet with representatives from Wright County Community Action (WCCA) to discuss programs they offer to residents and cities within Wright County. Staff would like to discuss these various programs with the EDA to determine interest level in communicating these opportunities to Monticello residents. See Attached information brochure. Informational Handouts: Nothing included this agenda. • Future Agenda Items: The next EDA meeting will be Wednesday, December 10, 2008 U comin a enda to ics not necessa on the next a enda will include: 1. Election of officers • P g g p ( rY g ) 2.Sub-committee job descriptions 3.Review information pertaining to underutilized properties, City owned properties, and properties within the TIF districts. S.Consideration to review Development Agreement /Private Contact administrative costs and fees/deposits (discussion after TIF analysis is completed). 4. Joint EDA/IEDC meeting in January 2009 Staff would like to identify dates to establish a joint IEDC and EDA meeting. EDA: 11.12.08 2 • AGENDA MONTICELLO INDUSTRIAL & ECONOMIC DEVELOPMENT COMMITTEE Wednesday, November 5, 2008 7:00 a.m., Bridge Room IEDC Mission Statement: To increase the tag base and the number of liveable wage-level jobs in Monticello by promoting industrial and economic growth and worlflng to maintain a desirable business environment. MEMBERS: Chair Mike Benedetto, Vice Chair Bill Tapper, Dick Van Allen, Don Roberts, Dan Olson, Barb Schwientek, Lynne Dahl-Fleming, Don Tomann, Jim Johnson, Zona Gutzwiller, Patrick Thompson, Rich Hams, Wayne Elam, and Marshall Smith. 1. Call to Order 2. Vote to approve the October 7, 2008 IEDC minutes 3. Reports: a. City Update b. Fiber Optic c. Chamber 4. Economic Development Director Update: a. General b. Planning Commission c. Marketing Committee d. Higher Education Committee e. Business Communication efforts f. Related Newsletter/Articles g. Next Meeting Schedule/Agenda 1. Meeting dates for joint EDA/IEDC meeting 2. Potluck breakfast in December? 5. Acceptance of Resignation from Chair Mike Benedetto a. Discussion of officers for 2009 6. IEDC Planning Session Recap & Establishing of Objectives a. IEDC Visioning Breakout Session (15 minutes) i. Further define who serves on committees 7. Adjournment. (8:30am) • INTRODUCING THE NEW QUARTERLY BUSINESS NEWSLETTER Welcome to the NEW Monticello business focused publication. The content in this newsletter is meant to provide the Monticello business community informa- tion pertaining to: city projects, general updates, awareness of existing & new businesses in town, local resources & contacts, and MUCH more! This news letter is being brought to you by several different organizations within City Hall. The Industrial & Economic Development Committee (IEDC) is a local business organization that helps identify key areas and topics the should be made aware. The Economic Development Authority (EDA) is a group that administers loan programs and oversees marketing strategies for the City. Along with these two committees, the City Council and City Staff are equally interested in reaching out and communicating consistently with Monticello's diverse business commu- nity. Look for this newsletter every three months! Our goal is to better inform the business community as to what is happening in and around City Hall. Equally im- portant to this publication is your input! Let us know what information you are interested in hearing about. What matters to you? What do you need as a busi- ness? How can we help? Do you have email? Do you want this publication Lets keep in touch ............... sent to you by email? Get on our email lisp Contact Megan at Megan.BarnettrJa ci.monticello.mn.us INTRODUCING THE NEW ECONOMIC DEVELOPMENT DIRECTOR My name is Megan Barnett and I am the new Economic Develop- ment Director for the City of Mon- ticello. I recently began my employment with the City of Monticello in August. My previous employment experience includes working in the private sector for a builder/ developer and I was a City Planner and Economic Development liai- son for the City of Ramsey. '- I have initiated and completed .' tasks in: marketing, business re- tention, purchase agreement nego- ~_' tiations, loan structures, website design and management, TIF ^e- gotiations, site plan reviews, comprehensive plan and zoning code rewrites... just to name a few experiences! I am hopeful that my past involvement in both the private and public sector will lead to an easy and open connec- tion to the business community. One of the roles of the Economic Development Director is to pro- vide acommunication link be- tween the City and the business community. My goal, along with the Industrial and Economic Development Committee (IEDC) and Economic Development Authority (EDA), is to establish events, networking opportuni- ties, and direct communication pieces between the businesses and the City. We believe it is critical to provide the existing (and future) businesses information pertaining to the "happenings" in and around the City. We are dedicated to com- municating to, but just as critical, we want to hear from you! Part of my role at the City is to be a resource and direct contact to the business community. If you have any questions, would like an update on what is happening in the City, or would like to voice any ideas or concerns; I can be reached at 7 6 3 2 7 1 3 2 0 8 M egan. Barnett@ci. monticell o.mn. Page 2 Cargill Kitchen Solutions Volume i, Issue i ,~ ~ Page 3 . Inside the EDA ~:~, II Caption describing pic- ture or graphic. • Industrial & Economic Development Committee (IEDC) • City News Caption de- scribing pio- ture or graphic. Page 4 -- ~~:.~ Monticello Community Center Community Events Several communities and/or private investors are establishing these centers which will result in more competition and in the near future Higher Education Facilities will be regulated by the State. The Higher Education Committee will be presenting its mission and vision and goals to the City Council in either November or December. e. Business Communications: 1. IEDC/Chamber luncheon: Director Barnett and Sandy Suchy discussed an appropriate time to hold anIEDC/Chamber luncheon. The idea was to dedicate a month in late winter or early Spring. The event would include allowing businesses to set up booths and City staff could provide a quick update on the "happenings" in the City. City Staff the Chamber Director Suchy will continue to pin point an exact month for this event to occur. 2. IEDC/EDA Event: Discussions will need to continue to regarding hosting a joint IEDC/EDA annual event for the local business and community leaders. Staff is proposing sometime in early fall of 2009. Further discussion to ensue in the future. 3. Business Newsletter: Attached is a very draft copy of the first quarterly business newsletter. Staff is still looking for a name to the newsletter! The target date for distribution is early January. Staff is requesting a volunteer from the IEDC assist in writing an article for the IEDC section. f. Related newsletters/articles: None are included. g. Next Meeting: Tuesday, December 2, 2008. Would anybody be interested in a potluck breakfast? Dates for a joint IEDC/EDA meeting • • N 1- ~ ` .I -, ,~ . ~~; ~, . Y t t ~ r ~ t 1 y }~1 ~' - t. ' ~ ~':I ~~ ~ ~,_ ~ 4~. .<<~. 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