EDA Meeting Minutes - 05/28/25MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, May 28, 2025 — 7:00 a.m.
Mississippi Room, Monticello Community Center
Commissioners Present: President Steve Johnson, Treasurer Hali Sittig, Rick Barger,
Clint Berglof, Mayor Lloyd Hilgart, Councilmember Tracy Hinz
Commissioners Absent: Vice President Jon Morphew
Staff Present: Executive Director Jim Thares, Community Development Director
Angela Schumann, Tyler Bevier, Anne Mueller
1. General Business
A. Call to Order
President Steve Johnson called the regular meeting of the Monticello Economic
Development Authority to order at 7:00 a.m.
B. Roll Call 7:00 a.m.
Mr. Johnson called the roll.
2. Approval of Agenda
None
3. Public Hearing
None
4. Regular Agenda
A. Consideration of Resolution 2025-03 reaffirming approval of a Facade Improvement
Forgivable Loan to Nordic Taphouse, 106 Walnut Street, in the amount of $111,000
Executive Director Jim Thares informed the EDA that the Facade Loan Agreement
language has been revised as suggested by the EDA attorney. With those changes, staff
is asking the EDA to reaffirm its May 14 decision about the loan. Essentially, the
changes are technical in nature though, it is believed they should be discussed with the
EDA. The key change is that the Kjellberg Estate is being removed as a signatory to the
loan agreement since the EDA attorney believes the agreement is not enforceable
against the estate. With this change, Nordic Brewing Co., LLC, will be the sole borrower
and guarantor of the loan. He further noted the potential scenarios and claw back
penalties or lack thereof if Zach Barthel was unable to finalize the Contract for Deed
with the estate or to sell his business within the noted three-year period. He also noted
that there is a shared sense of Mr. Barthel's commitment to seeing his business succeed
through his sweat equity and self -contracted improvements to the building and fagade.
EDA Regular Meeting Minutes — 05/28/2025
HALI SITTIG MOVED TO ADOPT RESOLUTION 2025-03 AUTHORIZING A REVISED FACADE
IMPROVEMENT LOAN AGREEMENT TO NORDIC BREWING CO. LLC DBA NORDIC TAP
HOUSE IN THE AMOUNT OF $111,000, CONTINGENT UPON EXECUTION OF THE
REQUIRED LOAN AGREEMENT AND PROMISSORY NOTE BY THE APPLICANT AND
COMPLIANCE WITH CASH MATCH REQUIREMENTS AND BASED ON FINDINGS TO BE
MADE BY THE EDA. CLINT BERGLOF SECONDED THE MOTION.
Hali Sittig spoke to having confidence with the applicant, Zach Barthel, being successful
in the new location and building.
Steve Johnson noted the document's validity and inquired if it would make sense to
have Mr. Barthel to personally cosign the loan agreement along with the LLC to satisfy
ownership until the closing date in 2026. Jim Thares noted that this would be an
unusual situation for these loans which are essentially grants after a three-year period.
Steve Johnson acknowledged the EDA's interest in having the building facade improved.
Mayor Hillgert indicated that he was okay with just Nordic Brewing being the signatory
to the loan agreement. He pointed out the main idea is to have the building facade
improved and that this is occurring through this process. Steve Johnson noted that the
Contract for Deed is the unique element in this project. Jim Thares said that the
Contract for Deed element has added complexity to this application and consideration.
MOTION CARRIED UNANIMOUSLY, 6-0.
5. Economic Development Manager's Report
Mr. Thares provided an overview of the agenda item to the EDA and staff, spoke about
the Business Retention and Expansion (BR&E) visits to Aroplax and Foundation Building
Materials (FBM). He noted two additional visits are scheduled in early June - ServPro
on the 5t" and Classique Jewelry on June 11.
Rick said he really thinks the BR&E visits are valuable and help in building great
relationships. Jim said he believes these are the basic building blocks of economic
development efforts.
Jim reviewed the prospect list and noted the upcoming site tour and meeting on May
30, 2025, with a developer interested in constructing an industrial building in Otter
Creek Business Park. He further said that there are not very many open industrial
spaces in the City. Rick Barger confirmed that the market has limited industrial space
availability.
EDA Regular Meeting Minutes — 05/28/2025
6. Adiourn
TRACI HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO EDA.
HALI SITTIG SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0. MEETING
ADJOURNED AT 7:33 P.M.
Recorder: Anne Mueller Aw
Approved: June 11, 2025
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Attest: vM.
Jim Thares, ED Executive Director