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EDA Agenda - 08/13/2025AGENDA REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, August 13, 2025 – 6:00 p.m. Mississippi Room, Monticello Community Center Commissioners: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig, Rick Barger, Clint Berglof, Councilmember Tracy Hinz, Mayor Lloyd Hilgart Staff: Executive Director Jim Thares, Rachel Leonard, Angela Schumann, Tyler Bevier, Sarah Rathlisberger 1. General Business A. Call to Order B. Roll Call 6:00 p.m. 2. Approval of Agenda Approval of Agenda – EDA members or the Executive Director may add items to the agenda for discussion purposes or approval. The EDA may or may not take official action on items added to the agenda 3. Consent Agenda A. Consideration of Payment of Bills B. Consideration of Approving Workshop Meeting Minutes – July 9, 2025 C. Consideration of authorizing $1,550 in funding to support the Monticello Industrial Economic Development Committee’s hosting the 2025 Manufacturers’ Breakfast Event scheduled for October 10, 2025 D. Consideration of authorizing 2026 CY funding contribution to the Initiative Foundation for Community and Economic Development programs 4. Public Hearing N/A ECONOMIC DEVELOPMENT AUTHORITY WORKSHOP MEETING (Academy Room) 4:15 p.m. GMEF Loan Pre-Application Review – Best of Mexico 4:45 p.m. GMEF Loan Pre-Application Review – Master Craft Outdoors 5:15 p.m. HRA Levy and EDA General Fund Budget Overview Discussion 5:50 p.m. Historic Plaque Signs Format and Color Discussion 5:55 p.m. Rustech Brewing and Equipment Status Update EDA Regular Meeting Agenda – 08/13/2025 2 5. Regular Agenda A. Consideration of EDA Resolution 2025-05 approving Ordinance No. 854 establishing an Affordable Housing Trust Fund (AHTF) and accepting EDA (acting as the HRA) responsibility for creating and administration of the AHTF programs. B. Consideration of EDA Resolution No. 2025-06 authorizing a Second Amendment to Lease Agreement with City of Monticello Park and Recreation Department for use of former Fred Gas Station, 349 West Broadway, for the Monti Arts activities and programs C. Consideration of Resolution 2025-07 authorizing the 2026 HRA Property Tax Levy and the 2026 EDA General Fund Budget 6. Other Business A. Consideration of Economic Development Manager’s Report 1. Wright & Sherburne County Enterprise Academy at MCC 2. Nordic Downtown Façade Forgivable Loan Project 3. Business Retention & Expansion (BR&E) Efforts 4. Downtown Rounds – September 8, 2025 @ 8:00 a.m. 5. 07/01/2025 Planning Commission Wksp & Reg Meeting Agendas 6. Project Updates (as of 07/30/25) 7. Prospect List (as of 08/08/2025) 7. Adjournment User: Printed:07/23/2025 - 2:06PM julie.cheney@monticellomn.gov Transactions by Account Batch:00203.07.2025 Accounts Payable Account Number Vendor AmountGL DateDescription Check No PO No 213-46301-430400 KUTAK ROCK LLP General EDA Matters - May 2025 130285 230.0007/15/2025 213-46301-430400 KUTAK ROCK LLP Nordic Tap House Facade Loan - May 2025 130285 621.5007/15/2025 213-46301-430400 KUTAK ROCK LLP Block 34 Redevelopment - May 2025 130285 232.0007/15/2025 1,083.50Vendor Subtotal: Subtotal for Fund: 213 1,083.50 Report Total: 1,083.50 AP-Transactions by Account (07/23/2025 - 2:06 PM)Page 1 User: Printed:07/24/2025 - 2:38PM julie.cheney@monticellomn.gov Transactions by Account Batch:00204.07.2025 Accounts Payable Account Number Vendor AmountGL DateDescription Check No PO No 213-46522-443989 WRIGHT CO AUDITOR-TREAS RETURN EXCESS INCREMENT COLLECTED IN 2024 130394 3,040.0007/29/2025 3,040.00Vendor Subtotal: 213-46540-465110 GRANITE CITY REAL ESTATE PAT AS YOU GO- 1ST PMT 2025 130359 37,762.6507/29/2025 37,762.65Vendor Subtotal: 213-46546-465110 WILLI HAHN CORPORATION PAY AS YOU GO TIF PAYMENT 130393 29,539.7607/29/2025 29,539.76Vendor Subtotal: Subtotal for Fund: 213 70,342.41 Report Total: 70,342.41 AP-Transactions by Account (07/24/2025 - 2:38 PM)Page 1 User: Printed:07/23/2025 - 2:06PM julie.cheney@monticellomn.gov Transactions by Account Batch:00201.07.2025 Accounts Payable Account Number Vendor AmountGL DateDescription Check No PO No 213-46301-433100 US BANK CORPORATE PMT SYSTEMCANAL PARK LODGE - Lodging EDA Conference (TB) 0 600.8207/15/2025 213-46301-433100 US BANK CORPORATE PMT SYSTEMCANAL PARK LODGE - Lodging EDA Conference (JT) 0 600.8207/15/2025 1,201.64Vendor Subtotal: 213-46301-438200 CITY OF MONTICELLO 130 Broadway E. (EDA strmwtr - formerly the Zoo) 7/3/2019 new fee 0 31.5007/15/2025 213-46301-438200 CITY OF MONTICELLO 216 Pine St (EDA - old Finders Keepers consignmt by old DMV) 0 53.8207/15/2025 85.32Vendor Subtotal: 213-46301-443990 US BANK CORPORATE PMT SYSTEMMONTICELLO CHAMBER OF COMMERCE - Chamber Lunch - June (JT) 0 20.0007/15/2025 213-46301-443990 US BANK CORPORATE PMT SYSTEMMONTICELLO CHAMBER OF COMMERCE - Chamber Lunch - May (JT) 0 20.0007/15/2025 40.00Vendor Subtotal: Subtotal for Fund: 213 1,326.96 Report Total: 1,326.96 AP-Transactions by Account (07/23/2025 - 2:06 PM)Page 1 User: Printed:08/04/2025 - 12:51PM julie.cheney@monticellomn.gov Transactions by Account Batch:00205.07.2025 Accounts Payable Account Number Vendor AmountGL DateDescription Check No PO No 213-46301-431991 DEMVI LLC Parking Lot Maintenance - July 2025 0 213.8607/31/2025 213.86Vendor Subtotal: 213-46301-438100 CENTERPOINT ENERGY 12045691-8 - 216 Pine St 0 23.0907/31/2025 23.09Vendor Subtotal: 213-46301-438100 XCEL ENERGY 101 E 3rd St (216 Pine St) - formerly Finders Keepers 0 20.4407/31/2025 20.44Vendor Subtotal: Subtotal for Fund: 213 257.39 Report Total: 257.39 AP-Transactions by Account (08/04/2025 - 12:51 PM)Page 1 The preceding list of bills payable totaling $73,010.26 was approved for payment. Date: 8/10/25 Approved by:__________________________________________ Hali Sittig - Treasurer MINUTES WORKSHOP MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, July 9, 2025 – 4:30 p.m. Academy Room, Monticello Community Center Commissioners Present: President Steve Johnson, Vice President Jon Morphew, Rick Barger, Mayor Lloyd Hilgart, Councilmember Tracy Hinz Commissioners Absent: Treasurer Hali Sittig Staff Present: Executive Director Jim Thares, Community Development Director Angela Schumann, Tyler Bevier, Anne Mueller 1. Call to Order President Steve Johnson called the workshop meeting of the Monticello Economic Development Authority to order at 4:30 p.m. 2. Roll Call 4:30 p.m. Mr. Johnson called the roll. 3. Historic Signage Walking Review – Downtown Block 35 and Block 52 Economic Development Authority (EDA) members and staff took a walking tour downtown to review the color palates of the signage samples against the exteriors of buildings relating to the façade loan program. EDA members discussed their observations and preferences as the three potential color palettes were placed against the façade project buildings. No one color was unanimously favored based on the discussion. 4. Big Bore Restaurant - SCDP Pre Application Submittal Review Executive Director Jim Thares introduced Chad and Jill Brink, owners of Big Bore Barbeque in Hanover. He noted that they have submitted a pre-application for the Small Cities Development Program (SCDP) Loan Program as a gap loan funding request to purchase equipment for their proposed new restaurant site to be in the former McDonald’s restaurant along 7th Street East near Home Depot. Chad Brink spoke about the selected location in Monticello and its high visibility as well as the condition of the former McDonald’s restaurant. It has a drive-thru, which is an advantage and will be a feature of the new Big Bore location allowing for convenience and order pick up options. The challenges of the building relate to the necessary improvements of the interior utilities as well as the general condition of the structure. It is essentially a shell that was stripped bare and vacated about a decade ago. Mr. Brink also noted the background of working with the City of Hanover and its EDA application process for the original and current Big Bore restaurant location at the onset of the COVID-19 pandemic. The Hanover location has expanded as far as the footprint will allow and will remain in operation as it has been extremely successful as the parent location. The Monticello site will become the first of its newly branded Cue (“pit”) Stop (as in “BarbeCue”) to satisfy the demands of the same customer base in a “fast casual” dining DR A F T EDA Workshop Meeting Minutes – 07/09/2025 experience. He also said the logistics of the building remodel facilitating good customer traffic flow and easier patronage accessibility are key adjustments. It will be somewhat like the entry layout at Pizza Ranch while the aesthetics will feel and look like the Hanover location which will allow nice accommodations for diners who want to stay and eat or take it to-go. The curbside order pickup for online orders will also be important. Mr. Brink pointed out the location as a midway stop on I-94 for commuter traffic between the Twin Cities and St. Cloud, as well as being desirable for those enroute to seasonal homes. Jill Brink mentioned the proposed seating will be a capacity of 67. They are planning to have a 3.2 beer and wine license to elevate the dining experience for those who eat in. Chad Brink further noted the menu offering as being the same core barbeque items as the Hanover location with a focus on food that travels well. Mr. Brink offered additional details about the proposed layout for the entrance and waiting vestibule, and face-to-face encounters at drive-up. Jill Brink reviewed the financial structure of the project noting the property acquisition and building renovations and equipment purchases would total well over $3,500,000. The building systems and equipment installation include new electrical services, plumbing, and HVAC systems. The SCDP gap loan is proposed to help with the equipment costs. Ms. Brink indicated that the primary lender is NorthStar Bank utilizing an SBA 504 loan. Chad Brink commented on his desire to close on the property as soon as possible, with intent to start concrete curbside and foundation work and exterior painting finished before the winter months. The target closing date for the acquisition is slated for August 27 with a 30-day extension, if needed. Per the Purchase Agreement, September 26 would be the latest potential closing date. Jill Brink spoke about sales at the Hanover location with a breakout of 70% food and 30% alcohol. She believes the Monticello location will be about 90% food and 10% alcohol per the customer modeling they have completed. The first year is projected to be $3M in total sales. Hanover closed out the most recent year at $6.7M in sales. She stated that summer months are most successful for sales; barbeque travels well for peak cabin season and accessibility to I-94. Ms. Brink also pointed out that the monthly operating budget is estimated to be $192,000. Chad Brink noted that the COVID-19 pandemic was a large challenge to work through when they first opened in Hanover, and they adjusted as needed and have been able to grow the revenue since that time. Mr. Brink also noted that their projected budget for Cue Stop has a slightly lower average sales per patron range of $25-30. They believe the location is a strength due to its proximity nearby Home Depot and Target and other retail businesses nearby. Jim Thares asked about the forecast for payroll. Jill Brink anticipates approximately $64k monthly for part-time staff and $7,500 for full-time employees. She noted the longevity and dedication of their employees at the Hanover location. Some may want to work at the new Monticello location. Chad Brink highlighted the six years of continuously increasing sales at the Hanover DR A F T EDA Workshop Meeting Minutes – 07/09/2025 location, operating six days a week. Mr. Brink also noted the upscale quality and rating of the barbecue foods and tastes as well as the national level of recognition (for barbecue) and of the universal branding for Hanover and all future locations. Steve Johnson asked Brinks about the SBA 504 funding and if they were contributing equity toward the proposed project. Jill Brink responded that they were providing 15% cash equity toward the project funding. Chad Brink explained how the loan process is anticipated to be like the Hanover process and how their goal is to be able to pay off the debt associated with the Monticello project earlier than a typical schedule. Steve Johnson also asked about the applicants’ marketing approach. Chad Brink noted that they are working with a creative design team on a weekly basis to extend branding and logo recognition to this and other potential locations for consistency across various media sources for internal and external reception. The lead creative consultant is also an equity partner if the new Monticello project operating company, not the real estate component. Steve Johnson indicated that he was very comfortable in having the proposal move forward to a final funding application review step with City staff in the coming months. Tracy Hinz arrived at the workshop at 5:57 p.m. 5. Adjourn Tracy Hinz motioned to adjourn the workshop. Second by Jon Morphew. Motion passed. Adjournment at 5:58 p.m. DR A F T EDA Agenda: 08/13/25 3C. Consideration of approving funding for the 2025 Manufacturers Appreciation Breakfast Event (October 10, 2025) in the amount of $1,550 Prepared by: Economic Development Manager Meeting Date: 08/13/25 ☐Regular Agenda Item ☒Consent Agenda Item Reviewed by: Community Development Director, Community & Economic Development Coordinator Approved by: City Administrator ACTION REQUESTED 1.Motion to authorize funding supporting the IEDC Manufacturers Appreciation Breakfast Event in the amount of $1,550. 2.Motion of other. REFERENCE AND BACKGROUND The Manufacturers’ Appreciation Breakfast, formerly Industry of the Year, is a business recognition and retention effort sponsored by the Industrial and Economic Development Committee (IEDC) and the EDA. The event is an opportunity to focus on and celebrate the contributions of the Monticello manufacturing and industrial community. It is held each year in conjunction with Minnesota Manufacturer's Week (typically the first week in October). Attendance at this event has historically been in the range of 65 to 90 people. It typically starts at 7:00 a.m. and ends at 8:20 a.m. This year the Manufacturers’ Appreciation Breakfast is scheduled for Friday, October 10, 2025, in the Monticello Community Center (MCC). Event planning and preparation kicked off at the August 5th, 2025, IEDC meeting and will continue through August and September. The event elements consist of the following. •7:00 a.m.Networking and Breakfast Served •7:20 a.m.Introduction, Sponsors Thank You •7:25 a.m.Recognition Statement honoring Manufacturers •7:30 a.m.Speaker Introduction – IEDC Chair •7:35 a.m.Keynote Speaker Presentation •7:55 a.m.Panel Discussion – Response to Economic Policies * •8:05 a.m.Questions for Speaker and Panelists * •8:25 a.m.Conclude Event * = Subject to change EDA Agenda: 08/13/25 In the past, the EDA has funded a portion of the costs associated with the event with city staff completing the planning and organizing. Staff also secured commitments for event sponsorships in the previous years in the amount of $1,200 to help defray the costs. Expenses include the complimentary breakfast, table décor and preparation, estimated at $2,700 +/-. Invitations and promotions are completed in-house at minimal cost. Supporting the IEDC in its lead role of Business Retention & Expansion (BR&E) efforts, of which the Manufacturers’ Week events are a small part, is identified in the EDA’s adopted 2025-2027 Workplan (Goal 1, Policy 1.1). The EDA is being asked to consider funding $1,550 for the event. I.Budget Impact: The total Manufacturers’ Appreciation Breakfast cost is estimated at $2,700. Private sector sponsors are being asked to each contribute $300 each for the event as well. The 2025 EDA General Fund Budget contains Advertising-Marketing dollars in the amount of $47,000. The EDA has sufficient funds in its Marketing line item to cover $1,550 of the estimated costs. The balance of expense funding is anticipated to be covered by sponsorships. II.Staff Workload Impact: Staff coordination is estimated at 24 to 28 hours. The Community and Economic Development Coordinator, Community Development Assistant, and Economic Development Manager have been involved in the work tasks related to the event. III.Comprehensive Plan Impact: The Monticello 2040 + Plan’s Economic Development Chapter includes statements illustrating a focus on supporting existing businesses and attracting new ones. The Plan states that….”it is the City’s intention to maintain a strong Business Retention and Expansion Program.” In addition, there is a recognition in the Plan that this effort “will allow the City to facilitate continued growth and expansion of businesses as well as the continued relationship between the City and existing businesses.” STAFF RECOMMENDED ACTION Staff recommend the EDA approve a funding contribution in the amount of $1,550 towards the IEDC Manufacturers Appreciation Breakfast. If the EDA contributes funds along with the private sector businesses, the total event funding of $2,700 +/- should be sufficient to cover the expected costs which are comprised of food and beverages, door prizes and table decorations (flowers). This event is Monticello’s signature opportunity to thank its existing manufacturers and industries and support business retention and expansion activities. The EDA’s funding support is vital to holding a successful event. SUPPORTING DATA A.2025 IEDC Action Statements INDUSTRIAL & ECONOMIC DEVELOPMENT COMMITTEE 2025 POSITION-ACTION STATEMENTS Mission Statement: The Monticello IEDC will advocate industrial and economic growth within the City of Monticello by promoting awareness and communication efforts on behalf of the business community. Goal: The IEDC is dedicated to being pro-active in following the objectives and policies established in the Monticello Comprehensive Plan. It is the intention of the IEDC to work within the areas identified below as supporting objectives and actions. Objective: Workforce Development, Job Creation and Retention 1. Encourage and Support Business Retention within Monticello. a.In collaboration with Wright County Economic Development Partnership (WCEDP), participate in Business Retention (BR&E) visits with key business in the community to help grow stronger relationships between businesses and Governmental units. b.Using shared information and relevant data points obtained in BR&E visits, offer comments and feedback in the compilation of a Business Retention Action Plan. c.Provide comments and feedback of economic development marketing materials and format related to various assistance programs available via the City and EDA. 2. Enhance Workforce Development through Partnerships with Local Educators, Businesses, Organizations and Agencies. a.Based on the need of the businesses, support partnering with Wright County and key leaders of local businesses, educators, and others in developing and executing a Workforce Development Plan. b.Encourage collaboration with and support of the Monticello School District in growing their initiatives to bring businesses into the classrooms. c.Explore and support ways business can bring relevance to educational classes & programs. d.Encourage collaboration with the Wright Technical Center (WTC), Buffalo, in developing and promoting career training programs and courses. e.Support and collaborate with regional partners engagement of stakeholders raising awareness of labor force demographics and potential solutions such as youth career building initiatives. f.Support residential land development and workforce housing as it correlates to workforce development. 3. Recognize the contributions of Monticello manufacturers through organization of and participation in industry-related events. a.Promote and host Manufacturer’s Week 2024 events, including an Appreciation Breakfast. Objective: Industrial Growth and Tax Base Expansion Through Recruitment and Retention 1. Support the recruitment of business which further the goals and objectives for the community as guided by the Comprehensive Plan. a.Provide feedback and appropriate support in implementing the Integrated Marketing and Communications Plan (IMCP). b. Support exploration of development of an incubator-accelerator as way of supporting start-up businesses and entrepreneurs in the community. 2. Provide encouragement to the City in moving forward key transportation projects which support economic development. a.Participate in the “Business Day at the Capitol” event(s) and lobby on behalf of the Monticello community to help City staff bring attention to our local transportation needs. b. Support and collaborate in the creation of a needs-based transportation priority statement for lobbying/support purposes. c. Encourage and support key transportation projects which improve product delivery for businesses, such as interchange, freeway, and bridge crossing projects. d.Encourage and support the City and its regional partners in efforts related to process and location of a 3rd local interchange which provides benefits to businesses and general economic development in the community. e.Monitor the initiatives and efforts of CMRRPP (Central Mississippi River Regional Planning Partnership) or its replacement entity and offer comments on various land and transportation system development plans. 3. In an advisory capacity, provide feedback and support to the City related to general land use, industrial land supply and availability, tax base matters and economic development strategies. a. Encourage and support periodic evaluation of current property inventory and uses for industrial properties with the objective of better marketing efforts. b. Encourage and support periodic assessment of industrial land availability with the following metrics: 1. Total acreage with developed infrastructure, zoned, and available to purchase and the maximum acreage of a contiguous, buildable lot. 2. Total acreage with undeveloped infrastructure, zoned, and available to purchase. Owner contact information. 3. Total acreage preserved in Land Use Plan for future development. c.Monitor and support periodic review of accessibility to Interstate 94 and State Highway 25 and utility capabilities. d.Monitor and provide comments of the site selection process related to locating future industrial-business park development. e.Monitor the status of the Monticello Nuclear Generating Plant in relation to its license renewal in 2030 and as it relates to potential NW Interchange (Orchard Road) Land Use and Environmental Studies. 4. Support community quality of life initiatives which enhance Monticello’s objectives for high quality development across the land use spectrum, including residential, commercial, industrial, and civic uses. a.Support and encourage the development of the Bertram Chain of Lakes Regional Park and recommend the development of a pathway connection to Monticello Businesses. b.Support and encourage the development of Points at Cedar project and recommend the development of a pathway connection to Monticello Businesses. c.Promote CentraCare Health Monticello to industrial businesses. d.Assess through a visioning worksheet the IEDC members’ views on residential, commercial, and industrial needs and challenges related to needed future planning and ordinance changes. e.Provide feedback and support efforts/solutions related to childcare services barriers, opportunities, and programs. f.Collaborate, as needed, with partner entities in lobbying to enhance and support efforts to bring economical childcare services into the community. g.Support and enhance efforts to recruit a new restaurant and lodging facility into the City. 5. Support regional development plans and initiatives. a.Support the implementation of the Regional 2022 CEDS (Comprehensive Economic Development Strategy) Update Plan through strategy review, feedback, and identification of local projects for federal funding support. b.Monitor the CMRRPP (Central Mississippi River Regional Planning Partnership) initiative and provide comments, as appropriate, on various stages of plan development. 6. Encourage and promote communications & engagement with Monticello businesses and prospects. a. Organize and host a Monticello business round table event which offers businesses a platform for discussion and information sharing about financial assistance programs, development entitlement processes and labor training funding resources. b.Organize and host “Industrial Round Tables” allowing sharing of information about available industrial sites, development financial assistance programs, labor training funding programs and entitlement review and approval processes. c.Sponsor networking individually and in small groups for input. EDA Agenda: 08/13/2025 3D. Consideration of authorizing a donation to the Initiative Foundation in the amount of $2,390 from the EDA 2026 General Fund budget Prepared by: Economic Development Manager Meeting Date: 08/13/2025 ☐ Regular Agenda Item ☒ Consent Agenda Item Reviewed by: Community & Economic Development Coordinator Approved by: Community Development Director ACTION REQUESTED Motion to authorize a 2026 donation to the Initiative Foundation in the amount of $2,390 from the EDA 2026 General Fund budget. REFERENCE AND BACKGROUND The EDA is asked to authorize its 2026 annual donation to the Initiative Foundation in support of Community and Economic Development programs in the amount of $2,390 from its General Fund budget. The proposed 2026 donation amount is the same as the EDA’s 2023, 2024 and 2025 contribution to the Initiative Foundation. The Initiative Foundation works with cities to provide favorable opportunities to advance community and economic prosperity and quality of life for its residents. From its inception in 1986 through early 2025, the Initiative Foundation has provided a total of $4,831,000 in grants to support non-profit organizations and $6,744,000 in business loans to secure 1,270 jobs in Wright County. Per the attached letter and information flyer, for every local donor dollar, the Initiative Foundation has returned $14.52 back to Wright County communities in grants, loans, and scholarships. I. Budget Impact: The budget impact to the EDA’s General Fund budget related to the 2026 annual donation to the Initiative Foundation is $2,390. II. Staff Workload Impact: The staff impact related to consideration of the 2026 annual donation to the Initiative Foundation is minimal. III. Comprehensive Plan Impact: The Vision adopted as part of the Monticello 2040 Vision + Plan outlines a wide range of Economic Development Goals. In order to accomplish this wide-ranging set of goals, it further envisions collaboration with various regional partners to accomplish the identified strategies and objectives. EDA Agenda: 08/13/2025 STAFF RECOMMENDATION Staff recommend the EDA authorize a 2026 annual donation to the Initiative Foundation in support of its community and economic development programs from the EDA’s 2026 General Fund Budget. Supporting the Initiative Foundation with a donation is a small reinvestment in the City of Monticello as the Initiative Funding typically returns $14.52 back to Wright County communities in the form of grants or small business loans from every donor dollar it receives. SUPPORTING DATA A. Initiative Foundation letter requesting 2026 donation and Information flyer regarding economic impacts in Wright County EDA Agenda: 8/13/2025 5A. Consideration of adopting EDA Resolution 2025-05 approving Ordinance No. 854, Establishing an Affordable Housing Trust Fund for the City of Monticello for the purpose of development, rehabilitation and financing of affordable housing and accepting EDA (acting as HRA) responsibility as administrator of the AFTF Prepared by: Community Development Director/Economic Development Manager Meeting Date: 8/13/2025 ☐Consent Agenda Item ☒Regular Agenda Item Reviewed by: Community & Economic Development Coordinator Approved by: Economic Development Manager ACTION REQUESTED Motion to adopt EDA Resolution 2025-05 approving the Affordable Housing Trust Fund Ordinance No. 854, establishing an Affordable Housing Trust Fund for the City of Monticello and more explicitly accepting the EDA’s (acting as the HRA) role as the administrator of the Affordable Housing Trust Fund programs which are intended to support development, rehabilitation and financing of affordable housing. Motion of other as determined by the EDA. REFERENCE AND BACKGROUND The EDA is asked to approve the Affordable Housing Trust Fund Ordinance No. 854 and accept its role as the HRA (Housing and Redevelopment Authority) to establish and administer appropriate AHTF programs with the intent of supporting development, rehabilitation and financing of affordable housing. The City Council recently adopted Ordinance No. 854 (July 14, 2025) and now the EDA is asked to also approve it. Ordinance No. 854 defines affordable housing, and income limits consistent with state requirements. It specifies the allowable uses of the fund and outlines additional revenue sources to support the fund going forward. The ordinance also specifies that the EDA, acting as the HRA, will administer the fund and develop programs for its use. By statute, an HRA has the following purpose: (1) to provide a sufficient supply of adequate, safe, and sanitary dwellings in order to protect the health, safety, morals, and welfare of the citizens of this state; (2) to clear and redevelop blighted areas; EDA Agenda: 8/13/2025 (3) to perform those duties according to comprehensive plans; (4) to remedy the shortage of housing for low and moderate income residents, and to redevelop blighted areas, in situations in which private enterprise would not act without government participation or subsidies; Additional background information about the origins of the Statewide Local Affordable Housing Aid is herein provided. In 2023, the State of Minnesota enacted legislation establishing a Statewide Local Housing Aid program, directing an annual amount of funding to local jurisdictions for a period of three years. The intent of the aid is to encourage affordable housing at a community level, acting as seed money for a permanent and renewable source of funding to meet housing needs for moderate, low, and very low-income households. Cities receiving the aid are required to commit the funding to qualifying projects by December 31 in the third year following receipt of the funds. The aid dollars must be spent by the end of the fourth year after being received. The first year of housing aid allocation was 2023. It appears the aid may continue, possibly depending on future legislative action (the city just received notice that it will receive additional funding at the end of 2026. This was not anticipated after the payments for CY 2023, 2024 and 2025). The total amount of funding for years 2023 through 2026 will be approximately $177,000 +/-. To more effectively utilize the funding, Cities have the option of creating an Affordable Housing Trust Fund to manage the housing aid dollars. Through establishing a Trust Fund, cities can better manage and retain housing aid if a project has not been identified within the spending deadlines. It also creates a mechanism for local on-going affordable housing programs as intended by the legislation. As a reminder, the EDA reviewed the purpose and intent of the housing aid at a workshop in June and thereafter offered a recommendation to the City Council to approve Ordinance No. 854. I.Budget Impact: Limited in establishment of the fund initially, with expenses by the City and EDA Attorney for the development of the ordinance and EDA review and resolution. Under the ordinance, the EDA may elect to direct a portion of its HRA levy as a revenue source for the fund in the future. II.Staff Workload Impact: Development Services staff members including the Community Development Director and Economic Development Manager, as well as the Finance Director, have spent approximately 14 hours on the trust fund concept. III.Comprehensive Plan Impact: The ordinance supports the 2040 Plan policy to “Actively promote and seek opportunities for the development of a wide variety of housing types, styles and price points as a mechanism to support and attract employment.” The use of EDA Agenda: 8/13/2025 the state housing aid will further the EDA’s efforts to facilitate affordable housing opportunities for workforce housing. STAFF RECOMMENDED ACTION City staff recommends EDA approval of Ordinance No. 854. Establishment of the AHTF is consistent with the City and EDA’s housing goals, including those identified in the EDA’s adopted Workplan. SUPPORTING DATA A.EDA Resolution 2025-05 B.Ordinance No. 854 C.Monticello 2040 Vision + Plan, Excerpts D.2025-2027 EDA Workplan, Excerpt 4934-5176-5079.1 CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2025-05 RESOLUTION APPROVING AN ORDINANCE AMENDING THE MONTICELLO CITY CODE TITLE III AND AUTHORIZING THE ADMINISTRATION OF THE AFFORDABLE HOUSING TRUST FUND FOR THE CITY OF MONTICELLO BE IT RESOLVED by the Board of Commissioners of the City of Monticello Economic Development Authority (the “Authority”) as follows: WHEREAS, pursuant to Ordinance No. 854 adopted by the City Council of the City of Monticello, Minnesota (the “City’) on July 14, 2025 (the “Ordinance”), the City established a local housing trust fund (the “Housing Trust Fund”) under Minnesota Statues, Section 462C.16, as amended, to support the development, rehabilitation, and financing of affordable housing. WHEREAS, the Ordinance requires the Housing Trust Fund to be funded, in part, by allocation of funds received from the local affordable housing aid received from the Statewide Local Housing Aid fund established pursuant to Minnesota Statues, Section 477A.36, as amended, and permits the Housing Trust Fund to be funded by other sources, including but not limited to: donations, bond proceeds; grants and loans from a state or federal source; appropriations by a local government; eligible pooled tax increment; land sale proceeds; investment earnings of the Housing Trust Fund; and housing and redevelopment authority levies. WHEREAS, the Ordinance designated the Authority as the administrator of the Housing Trust Fund. WHEREAS, the Board of Commissioners of the Authority (“Board”) has reviewed the Ordinance adopted by the City and has determined that it is in the best interests of the Authority to approve the Ordinance and accept the Authority’s appointment as administrator of the Housing Trust Fund. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the City of Monticello Economic Development Authority as follows: 1.01. The Authority hereby approves the Ordinance adopted by the City on July 14, 2025, substantially in accordance with the terms set forth in the form presented to the Board. 1.02. Pursuant to the Ordinance, the Authority hereby accepts its appointment as administrator of the Housing Trust Fund. 1.03. The officers, employees and other agents of the Authority are hereby authorized to do all acts and things required of them by or in connection with this resolution for the full, punctual, and complete performance of all the terms, covenants, and agreements contained in this resolution. 4934-5176-5079.1 Adopted by City of Monticello Economic Development Authority on August 13, 2025: _______________________________ President ATTEST: ______________________________ Executive Director 236183v2 ORDINANCE NO. 854 CITY OF MONTICELLO WRIGHT COUNTY, MINNESOTA AN ORDINANCE AMENDING THE MONTICELLO CITY CODE TITLE III, ADMINISTRATION, ESTABLISHING AN AFFORDABLE HOUSING TRUST FUND FOR THE CITY OF MONTICELLO THE CITY COUNCIL OF THE CITY OF MONTICELLO HEREBY ORDAINS: SECTION 1. Title III: ADMINISTRATION is hereby amended to add the underlined language as a new Chapter 38 as follows: CHAPTER 38: AFFORDABLE HOUSING TRUST FUND §38.01 DEFINITIONS. For the purpose of this chapter, the following definitions shall apply: AFFORDABLE HOUSING. Housing developments where = a unit or units have a monthly housing payment of not more than 30% of the gross household income of persons of very low, low, or moderate income, including rent, utilities, loan principal and interest, property taxes and insurance, and homeowner association or common interest community (condo association) dues. For development of 2 units or more, at least 20% of units must meet this same requirement. PERSONS OF VERY LOW INCOME. Families and individuals whose incomes do not exceed 50% of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis-St.Paul-Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for smaller and larger families. PERSONS OF LOW INCOME. Families and individuals whose incomes do not exceed 80 percent of the area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis-St. Paul- Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for smaller and larger families. PERSONS OF MODERATE INCOME. Families and individuals whose incomes exceed 80 percent, but do not exceed 115% of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for smaller and larger families. §38.02 ESTABLISHMENT OF AFFORDABLE HOUSING TRUST FUND. 236183v2 Pursuant to the authority granted to the city under Minnesota Statutes, Section 462C.16, an affordable housing trust fund is established to support the development, rehabilitation, and financing of affordable housing and provide down payment assistance, rental assistance and home buyer counseling services to persons of very low, low and moderate income. §38.03 ADMINISTRATION OF THE AFFORDABLE HOUSING TRUST FUND. The Monticello Housing and Redevelopment Authority shall administer the affordable housing trust fund consistent with the requirements of this chapter. Applications for funding for proposed projects or programs must be submitted to the Executive Director of the Monticello Economic Development Authority in accordance with applicable program or project requirements. §38.04 FUNDING FOR AFFORDABLE HOUSING TRUST FUND. The Affordable Housing Trust Fund shall be funded by funding directed to the City from the Statewide Local Housing Aid fund as approved by the City Council. Other sources of funding may include, but are not limited to: (A)Private donations designated for the Affordable Housing Trust Fund; (B)Bond proceeds; (C)Grants and loans from a federal or state sources designated to fund an affordable housing trust fund; (D)Local government appropriations, including development fees and other funds as designated by the City Council; (E)Eligible pooled tax increment; (F)Land sale proceeds; (G)Investment earnings from the Affordable Housing Trust Fund; and (H)Monticello Housing and Redevelopment Authority levies. §38.05 FUNDING USES. The Monticello Housing and Redevelopment Authority may disburse money from the Affordable Housing Trust Fund to assist applicants through projects or programs as designated by the Housing and Redevelopment Authority for the purpose of developing and rehabilitating 236183v2 housing affordable for persons of very low, low and moderate income, including but not limited to: (A)Making loans at interest rates below or at market rates in order to strengthen the financial feasibility of proposed projects; (B)Interest rate buy-down for private loan financing; (C)Providing gap financing for affordable housing developments; (D)Financing the acquisition, demolition, and disposition of property for affordable housing projects; (E)Financing construction of public improvements and utilities to aid proposed affordable residential developments; (F)Financing the rehabilitation, remodeling, or new construction of affordable housing; (G)Tenant and project based rental assistance; (H)Funding to facilitate affordable homeownership opportunities including down payment assistance and home buyer counseling services; (I)Administrative costs associated with affordable housing programs, not to exceed 10% of the balance of the Affordable Housing Trust Fund; (J)Interim financing of public costs for affordable housing projects in anticipation of a permanent financing source (i.e. construction financing, bond sale, etc.); and (K)Other uses as permitted by law and approved by the City Council. §38.06 TERMS AND CONDITIONS OF FUNDING. The Monticello Housing and Redevelopment Authority shall determine appropriate terms and conditions for each loan or grant from the Affordable Housing Trust Fund, including the appropriate security and interest, if any, should repayment be required. §38.07 ANNUAL REPORTING. The Monticello Housing and Redevelopment Authority shall report annually to the City on the administration of the City’s Affordable Housing Trust Fund account, including the number of loans and grants made, any associated matching funds from federal or state sources, the number and types of residential units assisted through the account, and the number of 236183v2 households for whom rental assistance payments and homebuyer counseling services were provided. The city shall post the report on its website. SECTION 2. This ordinance shall be effective immediately upon its passage and publication. ADOPTED by the City Council of the City of Monticello, Minnesota this 14th day of July, 2025. ______________________________ Lloyd Hilgart, Mayor ATTEST: _____________________________ Jennifer Schreiber, City Clerk AYES: NAYS: EDA Agenda: 08/13/25 5B. Consideration of Adopting Resolution No. 2025-06 approving Second Amendment To Lease Agreement between the EDA and the City of Monticello for 349 West Broadway (Fred’s Auto) in connection with and for the benefit of the Parks & Recreation Department’s use for MontiArts activities Prepared by: Economic Development Manager Meeting Date: 08/13/25 ☒ Regular Agenda Item ☐ Consent Agenda Item Reviewed by: Community Development Director, Community & Economic Development Coordinator, Park & Recreation Director Approved by: City Administrator ACTION REQUESTED Motion to adopt Resolution 2025-06 approving a Second Amendment To Lease Agreement between the EDA and the City of Monticello for 349 West Broadway (Fred’s Auto) in connection with and for the benefit of the Parks & Recreation Department’s use of the property for MontiArts activities. Motion of other as determined by the EDA. REFERENCE AND BACKGROUND This EDA is asked to approve a Second Amendment To Lease Agreement between the City of Monticello Parks & Recreation Department (Tenant) and the City of Monticello EDA (Landlord) for property located at 349 West Broadway. The Parks & Recreation Department has been using the former Fred’s Gas Station as a multi-purpose arts programing craft shop and storage area since September 2018. The original Lease Agreement was approved for two years in mid- 2018 and extended for an additional two years in May 2020, through August 31, 2022. The Lease was again amended in 2023 by establishing a term that expires of August 31, 2025. MontiArts has indicated to staff that it would like to continue using the property as an arts and crafts project workplace and storage area as well as an informal pop-up gathering spot for artistic themed activities and expression. The Lease Term changes are spelled out in “Section 3. Term of Lease.” The specific language states,” This Lease shall be in force from September 1, 2018 through August 31, 2027, and may be terminated by the Landlord or the Tenant with 45 days’ written notice. The parties agree that the Lease may be extended upon mutual agreement of the parties.” As a reminder, as per the Lease terms, the Parks, Arts, & Recreation Department is responsible for all operating and maintenance costs of the property. These include building and systems EDA Agenda: 08/13/25 maintenance and repair costs, as well as all utility expenses, i.e., water, sewer, garbage, heat, electrical and internet. Further, it should be noted that item 13 of the Lease provides for EDA approval of other improvements to the building by the Tenant to preserve future redevelopment eligibility. These improvements include exterior alterations or major repairs to the interior of the building and its systems. Storage is not allowed in the Central Community District (CCD) without a Conditional Use Permit. Outdoor Sales & Display is permitted as an accessory use subject to the specific requirements of the ordinance. Although the building is located on a block next to the former U.S. Post Office facility that has potential for future redevelopment activity, there have been no development inquiries regarding the property in the past several years. In the event there is future development interest in this block, the Second Amendment (as did past amendments) provides language allowing either party to cancel the lease with 45 days’ written notice. The Second Amendment To Lease Agreement and the original Lease Agreement are both attached to the staff report. If the EDA approves the Second Amendment, it will be presented to the City Council for consideration as well on August 25, 2025. I. Budget Impact: The cost of considering the proposed Second Amendment to Lease Agreement is estimated to be approximately $875. The costs are related to the EDA Attorney legal fees for drafting resolutions and the Second Amendment document. II. Staff Workload Impact: City staff involved in the Second Amendment work tasks include the Community Development Director, Economic Development Manager, Parks, Art & Recreation Director, and the EDA attorney. Those tasks have consisted of discussions with the EDA attorney and review of documents and drafting the staff report. III. Comprehensive Plan Impact: The Vision adopted as part of the Monticello 2040 + Plan includes Community Character, Design and Art goals to evoke authenticity, a sense of comfort and well-being, and a collective shared identity. Specifically, the Public Art and Placemaking goals recognize that art provides social, cultural, and economic benefits and fosters opportunities for local artists residents and stakeholders to participate in its creative process with an end goal of enlivening and animating public spaces in the City for community use and enjoyment. STAFF RECOMMENDATION Staff recommend approval of the Second Amendment To Lease Agreement allowing continued use of the EDA owned property for the benefit of the MontiArts programing activities. If the EDA approves the Second Amendment, it will be presented to the City Council for approval at the August 25, 2025, meeting. EDA Agenda: 08/13/25 SUPPORTING DATA A. Resolution No. 2025-06 B. Second Amendment To Lease Agreement – 349 West Broadway C. Original Signed Lease Agreement between City and EDA - 349 West Broadway (Fred’s Auto) D. Aerial Photo – 349 West Broadway 4905-3178-1722.1 CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2025-06 RESOLUTION APPROVING AMENDMENT DOCUMENTS TO LEASE AGREEMENT BETWEEN THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY AND THE CITY OF MONTICELLO PARKS DEPARTMENT BE IT RESOLVED by the Board of Commissioners of the City of Monticello Economic Development Authority (the “Authority”) as follows: WHEREAS, the Authority owns certain property (the “Property”) in the City of Monticello, Minnesota (the “City”); and WHEREAS, the Authority and the City of Monticello Parks Department (the “Tenant”) previously entered into a Lease Agreement, dated December 10, 2018 (the “Original Lease”) pertaining to the commercial building located on the Property at 349 West Broadway in the City; and WHEREAS, the Authority and the Tenant entered into an Extension of Lease Agreement, dated as of May 12, 2021, as amended by a First Amendment to Lease entered into in 2023 (collectively, the “First Amendment” and, together with the Original Lease, the “Lease”) to extend the initial term of the Original Lease. WHEREAS, the term of the Lease has expired and the Authority and the Tenant wish to enter into a Second Amendment to Lease Agreement (the “Second Amendment”) which will extend the term of the Lease; and WHEREAS, the Board of Commissioners of the Authority (“Board”) has reviewed the Second Amendment and has determined that it is in the best interests of the Authority to approve and execute the Second Amendment. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the City of Monticello Economic Development Authority as follows: 1.01. The Authority hereby approves the Second Amendment substantially in accordance with the terms set forth in the forms presented to the Board, together with any related documents necessary in connection therewith, and without limitation all documents, exhibits, certifications or consents referenced in or attached to the Second Amendment (collectively, the “Amendment Documents”) and hereby authorizes the President and the Executive Director to negotiate the final terms thereof and, in their discretion and at such time as they may deem appropriate, to execute the Amendment Documents on behalf of the Authority, and to carry out, on behalf of the Authority, the Authority’s obligations thereunder when all conditions precedent thereto have been satisfied. 1.02. The approval hereby given to the Amendment Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the Authority and by the officers authorized herein to execute said documents prior to their execution; and said officers are hereby authorized to approve said changes on behalf of the Authority. The execution of any instrument by the appropriate officers of the Authority herein authorized shall be conclusive evidence of the approval of such document in accordance with the terms hereof. This Resolution shall not constitute an offer 4905-3178-1722.1 and the Amendment Documents shall not be effective until the date of execution thereof as provided herein. In the event of absence or disability of the officers, any of the documents authorized by this Resolution to be executed may be executed without further act or authorization of the Board by any duly designated acting official, or by such other officer or officers of the Board as, in the opinion of the Authority Attorney, may act in their behalf. 1.03. Upon execution and delivery of the Amendment Documents, the officers and employees of the Authority are hereby authorized and directed to take or cause to be taken such actions as may be necessary on behalf of the Authority to implement the Amendment Documents. Adopted by City of Monticello Economic Development Authority on August 13, 2025: _______________________________ President ATTEST: ______________________________ Executive Director 4897-6959-5226.1 SECOND AMENDMENT TO LEASE AGREEMENT THIS SECOND AMENDMENT TO LEASE AGREEMENT (this “Second Amendment”), dated _________, 2025, by and between the CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY, a public body corporate and politic and political subdivision of the State of Minnesota (the “Landlord”), and the CITY OF MONTICELLO PARKS DEPARTMENT (the “Tenant”). WITNESSETH: WHEREAS, Landlord and Tenant previously entered into that certain Lease Agreement dated as of December 10, 2018 (the “Original Lease”), pursuant to which the Landlord leased certain property located within the City of Monticello and described as attached hereto as Exhibit A (the “Property”). WHEREAS, the parties entered into an Extension of Lease Agreement, dated as of May 12, 2021, as amended by a First Amendment to Lease entered into on August 9, 2023 (collectively, the “First Amendment” and, together with the Original Lease, the “Lease”) to extend the initial term of the Original Lease. WHEREAS, the term of the Lease expired on August 31, 2025, and the parties desire to extend the Lease for an additional 24-month period by entering into this Second Amendment. NOW, THEREFORE, in consideration of the foregoing, the covenants contained in the Lease and other good and valuable consideration, the receipt and sufficiency of which each party hereby acknowledges, Landlord and Tenant agree as follows: 1. Amendment to Section 3 of the Lease. Section 3 of the Lease is deleted in its entirety and is replaced with the following: “3. Term of Lease. This Lease shall be in force from September 1, 2018 through August 31, 2027, and may be terminated by the Landlord or the Tenant with 45 days’ written notice. The parties agree that the Lease may be extended upon mutual agreement of the parties.” 2. Miscellaneous. Except as amended by this Amendment, the Lease and Amendments shall remain in full force and effect. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. 3. Terms . Any capitalized terms used herein but not otherwise defined shall have the meanings assigned to such terms in the Lease. Any references to the “Lease” or “this Lease” in the Lease shall refer to the Original Lease, as amended by the First Amendment and this Second Amendment, and as may be further amended and supplemented. 4. Effective Date. The amendments made to the Lease, as amended by this Second Amendment, shall be effective as of the date hereof 4897-6959-5226.1 IN WITNESS WHEREOF, Landlord and Tenant have hereunto set their hands and seals, as of the day and year above written. LANDLORD: CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY By: ___________________________ Its: President By: ___________________________ Its: Executive Director STATE OF MINNESOTA COUNTY OF WRIGHT The foregoing instrument was acknowledged before me this ___ day of ________, 2025, by Steve Johnson, the President, and Jim Thares, the Executive Director of the City of Monticello Economic Development Authority, on behalf of the Authority. __________________________________ Notary Public 4897-6959-5226.1 TENANT: CITY OF MONTICELLO PARKS DEPARTMENT By: THE CITY OF MONTICELLO, MINNESOTA By:_____________________________________ Its: Mayor By:_____________________________________ Its: City Clerk STATE OF MINNESOTA COUNTY OF WRIGHT The foregoing instrument was acknowledged before me this ____ day of ________, 2025, by Lloyd Hilgart, the Mayor of the City of Monticello, Minnesota and Jennifer Schreiber, the City Clerk of the City of Monticello, Minnesota, on behalf of the City of Monticello, Minnesota. __________________________________ Notary Public 4897-6959-5226.1 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY Wright County, MN Aerial : 349 BROADWAY W Created by: City of Monticello Developed by Parcel ID 155010050011 Sec/Twp/Rng 11-121-025 Property Address 349 BROADWAY W MONTICELLO Alternate ID (1101) CITY OF MONTICELLO-0882 Class 956 - 5E MUNICIPAL-PUBLIC SERVICE Acreage 0.19 Acres  Taxpayer Address 349 BROADWAY W   District 6000 - EXEMPT Brief Tax Description SECT-11 TWP-121 RANGE-025 ORIGINAL PLAT MONTICELLO LOT-001 BLOCK-050 S1/2 OF LTS 1,2&3 (Note: Not to be used on legal documents) Date created: 8/7/2025 Last Data Uploaded: 8/7/2025 12:38:57 AM 83 ft Overview Legend Highways Interstate State Hwy US Hwy Roads City/Township Limits c t Parcels Torrens EDA Agenda: 08/13/25 5C. Consideration of EDA Resolution 2025-07 authorizing the 2026 HRA Special Benefit Property Tax Levy in the amount of $504,000 and the EDA General Fund Budget in the amount of $590,000 Prepared by: Economic Development Manager Meeting Date: 08/23/25 ☒Regular Agenda Item ☐Consent Agenda Item Reviewed by: Community Development Director, Finance Director Approved by: City Administrator ACTION REQUESTED Motion to adopt EDA Resolution 2025-07 approving the 2026 HRA Special Benefit Property Tax Levy in the amount of $504,000 and the EDA General Fund Budget in the amount of $590,000. Motion of other as determined by the EDA. REFERENCE AND BACKGROUND The EDA is asked to consider EDA Resolution 2025-07 authorizing the 2026 HRA Special Benefit property tax levy in the amount of $504,000 and the EDA General Fund Budget (revenue and expenditures) in the amount of $590,000. The proposed tax levy increase is $5,000 or 1.0 percent over the 2025 certified levy amount of $499,000. The budget schedule allows the HRA Special Benefit property tax levy to be ratified by the Council and certified at the same time as the City levy in late September 2025. The final 2026 levy determination is scheduled to be made by the City Council in early December 2025. Setting the annual levy is a policy decision for the EDA. The proposed 2026 EDA General Fund budget relies on the maximum allowed property tax levy as well as an estimated $75,000 in interest earnings from invested funds. It also includes a transfer of $6,000 from the City General Fund to cover the meeting stipends paid to EDA board members. Additionally, $5,000 is assumed to be passed through the EDA General Fund related to TIF escrow activity; this amount is offset by a budgeted $5,000 in expenditures. Unspent EDA funds in a specific budget year are added to the EDA General Fund fund balance and are available for various EDA goals as needed. In the table below, the amount of the maximum allowed property tax levy along with the EDA’s actual certified levy is shown over a timeframe that spans from 2016 (when the HRA levy began) to 2025. The City’s total taxable property valuation increased by $25,574,000 (+1%) over the previous year. EDA Agenda: 08/13/25 The maximum 2026 allowed HRA levy is 0.000185 of the property valuation which equals $504,000 +/-. Year Taxable Mkt. Value* Allowed Levy by Statute Actual Levy 2026 $2,727,750,300 $504,000 $??? 2025 $2,702,176,300 $499,000 $499,000 2024 $2,440,585,300 $451,000 $451,000 2023 $2,173,573,500 $402,000 $402,000 2022 $2,100,005,500 $388,000 $388,000 2021 $1,980,148,000 $366,300 $366,300 2020 $1,923,814,900 $355,000 $355,000 2019 $1,883,565,600 $348,000 $348,000 2018 $1,748,750,200 $323,000 $323,000 2017 $1,631,446,700 $302,000 $280,000 2016 $1,513,570,400 $280,000 $280,000 *Taxable market value is for the calendar year prior to the levy year, e.g., 2026 levy is based on 2025 Taxable Market Value amount The proposed 2026 levy is calculated by multiplying the allowed percentage rate of 0.0185% by the municipal taxable market value (0.000185 x $2,727,750,300 = $504,000 +/-) The 2026 EDA General Fund Expenditures Budget proposal is attached for reference. The budget line items include all operating expenditures, such as staff salaries and benefits, training, and travel, overhead (electricity, computer maintenance, postage), legal fees, financial advisor fees, marketing, and various memberships such as the Wright County Economic Development Partnership and Economic Development Association of Minnesota (EDAM). Expenditures for professional services, including the Broadway parking lot agreement, economic development services, and marketing, were increased to reflect recent and anticipated activity increases. The 2026 budget is in the majority consistent with prior years in terms of expense allocation. The City is completing a classification and compensation study, which may impact staff salaries in 2026. A liberal cushion is included in the draft budget to account for possible wage adjustments. The final budget will be adjusted so that the total EDA General Fund budget remains at $590,000. The EDA’s largest single budget category each year is the land acquisition-redevelopment activities line item and is usually a flex and fill figure (the last line filled) based on the levy amount for a balanced budget. The 2026 Redevelopment activities line item is proposed to be $151,139. However, the final number will fluctuate as final costs become known (for example, 2026 health insurance premium rates) between now and December. It is this line item, along EDA Agenda: 08/13/25 with the EDA General Fund and pooled TIF resources, that has supported recent key property acquisitions and redevelopment activities of the EDA. I.Budget Impact: The cost of approving the 2026 HRA property tax levy and the EDA General Fund Budget is minimal. II.Staff Workload Impact: City staff involved in the levy and budget discussions included the City Administrator, Finance Director, Community Development Director, and Economic Development Manager. III.Comprehensive Plan Impact: Economic Development Goals outlined in the Comprehensive Plan 2040 + include the following items of focus. Goal 1: Business Attraction and Retention Goal 2: Tax Base Expansion Goal 3: Downtown Vitality Goal 4: Redevelopment and Reinvestment Goal 5: Life Cycle Housing Goal 6: Workforce Development Goal 7: Promotion and Partnerships Goal 8: Opportunities Areas STAFF RECOMMENDATION Staff recommend that the EDA authorize the 2026 HRA Property Tax Levy and the EDA General Fund Budget in the respective proposed amounts of $504,000 and $590,000. The recommendation is based on current costs, historical budget trendlines, the Comprehensive Plan goals, and the EDA’s recent level of development activity as well as the current 2025-2027 Workplan. The EDA’s overall mission is to support and facilitate economic development and redevelopment and housing activities that expand the tax base, increase employment opportunities, and create a vibrant economy. Ultimately, levy and budget determination is a policy decision. SUPPORTING DATA A.EDA Resolution 2025-07 B.Draft 2026 EDA General Fund Budget Proposal C. Qtr. 2 - 2025 EDA Financial Statements – Expenditures-Revenues and Balance Sheet D.2025-2027 EDA Workplan Goals and Objectives 4914-8611-0042.1 CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2025-7 AUTHORIZING THE LEVY OF A SPECIAL BENEFIT TAX PURSUANT TO MINNESOTA STATUTES, SECTION 469.033, SUBDIVISION 6 AND APPROVING A BUDGET FOR FISCAL YEAR 2026 WHEREAS, pursuant to Minnesota Statutes, Sections 469.090 through 469.1081, as amended, the City Council (the “City Council”) of the City of Monticello, Minnesota (the “City”) previously created the City of Monticello Economic Development Authority (the “Authority”); and WHEREAS, the Authority is authorized to exercise all powers and duties of a housing and redevelopment authority under the provisions of Minnesota Statutes, Sections 469.001 to 469.047 (the “HRA Act”); and WHEREAS, Section 469.033, subd. 6 of the HRA Act permits the Authority to levy and collect a special benefit tax of up to 0.0185 percent of taxable market value in the City, levied upon all taxable real property within the City, to finance the Authority’s housing and redevelopment activities; and WHEREAS, the special benefit tax levy authorized by Section 469.033, subd. 6 of the HRA Act is separate and distinct from the City’s levy and is not subject to the City’s levy limits; and WHEREAS, the Authority desires to levy a special benefit tax in the amount of 0.0185 percent of taxable market value in the City; and WHEREAS, the Authority has determined to adopt a budget for fiscal year 2026 that provides for the levy of the special benefit tax in the amount of 0.0185 percent of taxable market value of property in the City, to be used for the Authority’s redevelopment activities. NOW, THEREFORE, Be It Resolved by the Board of Commissioners (“Board”) of the City of Monticello Economic Development Authority as follows: 1. The Board hereby approves a budget of $590,000 excluding TIF district and loan activity) for fiscal year 2026, including the levy of a special benefit tax in an amount not to exceed $504,000, subject to approval of such budget by the City Council prior to September 30, 2025. 2. Staff of the Authority is hereby authorized and directed to file the budget with the City in accordance with Minnesota Statutes, Section 469.033, Subdivision 6, and request that the City Council consider approval of the special benefits tax levy. 3. There is hereby levied a special benefit tax pursuant to Minnesota Statutes, Section 4914-8611-0042.1 2 469.033, Subdivision 6, in an amount not to exceed $504,000 with respect to taxes payable in calendar year 2026, contingent upon the approval of the City Council. 4. Staff of the Authority are hereby authorized and directed to take such other actions as are necessary to levy and certify such levy upon approval by the City Council. Approved by the Board of Commissioners of the City of Monticello Economic Development Authority this 13th day of August, 2025. President Attest: Executive Director 2023 2024 2025 2025 2026 % Account Number Account Description ACTUAL ACTUAL BUDGET THRU 8/7 BUDGET CHANGE 213-00000-310110 CURRENT AD VALOREM TAXES 401,266$ 448,962$ 499,000$ 256,161$ 504,000 1.0% 213-00000-310210 DELINQUENT AD VALOREM TAXES 473 2,607 - 1,158 - --- 213-00000-310310 MANUFACTURED HOME TAX - - - - - --- 213-00000-319100 PENALTIES & INT - TAX 68 787 - 118 - --- 213-00000-334235 STATE GRANT 344,993 294,248 - 12,678 - --- 213-00000-362110 INTEREST EARNINGS - INVESTMENTS 206,517 159,232 27,000 - 75,000 177.8% 213-00000-362200 RENTAL OF CITY PROPERTY - - - 3,072 - --- 213-00000-362300 CONTRIBUTIONS 3,300 11,940 - (275) - --- 213-00000-362400 SALE OF PROPERTY - - - - - --- 213-00000-362900 OTHER MISCELLANEOUS REV - - - - - --- 213-00000-392000 OPERATING TRANSFERS IN 3,950 5,114 6,000 - 6,000 0.0% 213-41911-349655 ENGINEERING - BILLABLE PROJECTS 1,281 8,238 - - 5,000 --- TOTAL EXPENDITURES 961,848$ 931,128$ 532,000$ 272,912$ 590,000$ 10.90% 2023 2024 2025 2025 2026 % Account Number Account Description ACTUAL ACTUAL BUDGET THRU 8/7 BUDGET CHANGE 213-41911-431990 MISC PROFESSIONAL SERVICES 1,281$ 8,238$ -$ -$ 5,000 --- 213-46301-410100 SALARIES, FULL TIME - REG 125,789 132,600 158,036 90,362 168,980 16.56% 213-46301-410200 SALARIES, FULL TIME - OT 903 630 500 619 500 --- 213-46301-410300 SALARIES, PART TIME - REG 12,005 5,021 7,200 2,089 7,221 0.00% 213-46301-411100 SEVERANCE PAY - 1,599 - - - --- 213-46301-411110 SEVERANCE BENEFITS - - 1,000 - 1,000 --- 213-46301-412100 PERA CONTRIBUTIONS 9,411 9,828 11,890 6,825 13,253 16.93% 213-46301-412200 FICA CONTRIBUTIONS 10,189 10,399 12,679 6,989 13,518 16.08% 213-46301-413100 HEALTH/DENTAL/LIFE INSURAN 19,646 15,101 33,715 10,732 35,063 -6.85% 213-46301-413250 HSA CONTRIBUTIONS 5,722 4,259 - 3,017 - --- 213-46301-413300 LIFE INSURANCE CONTRIBUTIONS 120 123 - 80 - --- 213-46301-413400 DISABILITY INS CONTRIBUTIONS 735 718 - 444 777 --- 213-46301-415100 WORKERS COMP INSURANCE 2,268 2,467 3,442 2,245 3,755 23.80% 213-46301-421990 GENERAL OPERATING SUPPLIES 35 - 500 106 550 25.00% 213-46301-430300 PROF SRV - ENGINEERING FEE - - 5,000 - 5,000 0.00% 213-46301-430400 PROF SRV - LEGAL FEES 21,780 32,933 22,500 7,828 23,800 12.50% 213-46301-431990 MISC PROFESSIONAL SERVICES 134,078 22,228 54,000 29,652 54,500 70.35% 213-46301-431991 MISC PROFESSIONAL SERVICES - PROPERTY MGMT 2,566 2,566 4,300 1,497 4,650 7.50% 213-46301-431993 MISC PROFESSIONAL SERVICES - ECON DEV SVCS 19,777 22,851 19,000 - 16,000 4.40% 213-46301-432100 TELEPHONE STIPEND 780 780 780 380 780 0.00% 213-46301-432150 IT SERVICES 3,473 3,353 3,456 1,728 3,834 1.76% 213-46301-432200 MAIL & DELIVERY SERVICES 462 147 300 23 480 9.09% 213-46301-433100 TRAVEL/TRAINING EXPENSE 5,120 1,182 3,750 3,657 4,800 4.17% 213-46301-434990 ADVERTISING & MARKETING 5,000 18,351 47,000 5,000 51,200 4.44% 213-46301-435100 LEGAL NOTICE PUBLICATION 398 1,477 650 187 850 0.00% 213-46301-436100 INSURANCE - LIABILITY/PROPERTY/VEHICLE 3,395 4,259 2,350 1,371 2,350 -58.21% 213-46301-437100 PROPERTY TAXES - 58,658 2,250 3,573 3,000 --- 213-46301-438100 UTILITIES - GAS/ELECTRICITY 10 1,653 100 2,045 1,750 0.00% 213-46301-438200 WATER/SEWER 78 1,009 150 427 1,200 50.00% 213-46301-440100 REPAIR & MTC - BLDG & SYSTEMS - - - - 150 --- 213-46301-440200 REPAIR & MTC - FACILITIES MAINTENANCE 1,512 1,119 650 325 650 -91.15% 213-46301-443300 DUES, MEMBERSHIP & SUBSCRIP 6,796 7,416 11,000 6,999 12,750 22.22% 213-46301-461500 REDEVELOPMENT ACTIVITIES 4,500 6,578 124,602 - 151,139 -14.29% 213-46301-443990 MISCELLANEOUS OTHER EXP 603,370 867,884 1,200 62,069 1,500 20.00% 213-46301-472030 OPERATING TRANSFER OUT - - - - - --- 213-46601-443990 MISCELLANEOUS OTHER EXP - - - - - --- TOTAL EXPENDITURES 1,001,199$ 1,245,427$ 532,000$ 250,269$ 590,000$ 10.90% EDA GENERAL FUND DRAFT 2026 EXPENDITURES BUDGET EDA GENERAL FUND DRAFT 2026 REVENUES BUDGET CITY OF MONTICELLO Schedule of Assets, Liabilities, Deferred Inflows of Resources, and Fund Balances Economic Development Authority & Small Cities Development Program June 30, 2025 - Unaudited TIF 6 (d)TIF 19 (d)TIF 20 (d)TIF 22 (d)TIF 24 TIF 29 TIF 30 TIF 34 (d)TIF 40 TIF 41 TIF 42 TIF 43 TIF 45 TIF 46 GAAP Total Total EDA General GMEF TIF Future Raindance MS Shores Prairie West Downtown St. Henry's Front Porch CMHP Interchange Briggs UMC Headwaters Headwaters Block 52 WiHa Reconciliation EDA SCDP ASSETS Cash and investments 1,762,690$ 830,811$ -$ 95,444$ 37,719$ -$ 34,358$ 151,358$ 102,356$ 92,690$ -$ 63,008$ 69,581$ -$ -$ 111,291$ 32,379$ -$ 3,383,685$ 903,437 Receivables Delinquent taxes 3,465 - - - - - - - - - - - - - - - - - 3,465 - Accounts 10,926 - - - - - - - - - - - - - - - - - 10,926 1,918 Intrafund receivable 109,779 - - 687,248 - - - - - - - - - - - - - (797,027) - - Notes receivable 127,246 439,445 - - - - - - - - - - - - - - - - 566,691 80,195 Land held for resale 2,759,929 - - - - - 163,200 - - - - - - - - - - - 2,923,129 - TOTAL ASSETS 4,774,035$ 1,270,256$ -$ 782,692$ 37,719$ -$ 197,558$ 151,358$ 102,356$ 92,690$ -$ 63,008$ 69,581$ -$ -$ 111,291$ 32,379$ (797,027)$ 6,887,896$ 985,550$ LIABILITIES Accounts and contracts payable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 127,246$ -$ -$ -$ 127,246$ -$ Intrafund payable - - 58,563 - - - - - - 49,331 - - 687,248 431 431 431 592 (797,027) - - Unearned revenue - - - - - - 163,200 - - - - - - - - - - (163,200) - - Escrow deposits 38,746 - - - - - - - - - - - - - - - - - 38,746 - Total liabilities 38,746 - 58,563 - - - 163,200 - - 49,331 - - 687,248 431 127,677 431 592 (960,227) 165,992 - DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes 3,465 - - - - - - - - - - - - - - - - - 3,465 - FUND BALANCES Restricted 121,740 1,270,256 - 782,692 37,719 - 34,358 151,358 102,356 43,359 - 63,008 (617,667) (431) (127,677) 110,860 31,787 163,200 2,166,918 985,550 Assigned Economic Development 4,588,594 - (58,563) - - - - - - - - - - - - - - - 4,530,031 - Façade Grant 21,490 - - - - - - - - - - - - - - - - - 21,490 - Total fund balance 4,731,824 1,270,256 (58,563) 782,692 37,719 - 34,358 151,358 102,356 43,359 - 63,008 (617,667) (431) (127,677) 110,860 31,787 163,200 6,718,439 985,550 TOTAL LIABILITIES, AND FUND BALANCES 4,774,035$ 1,270,256$ -$ 782,692$ 37,719$ -$ 197,558$ 151,358$ 102,356$ 92,690$ -$ 63,008$ 69,581$ -$ -$ 111,291$ 32,379$ (797,027)$ 6,887,896$ 985,550$ Required or Actual Decertification Date 12/9/2013 12/31/2023 12/10/2018 12/31/2023 12/31/2026 12/31/2029 12/31/2029 12/31/2022 12/31/2045 12/31/2031 12/31/2050 12/31/2050 12/31/2050 12/31/2032 TIF District Type Redevelopment Housing Redevelopment Housing &Housing Housing Housing Redevelopment Housing Economic Housing Housing Redevelopment Economic (d) = decertified Redevelopment Development Development CITY OF MONTICELLO Schedule of Revenues, Expenditures and Other Financing Sources (Uses) Economic Development Authority & Small Cities Development Program For the Period Ended June 30, 2025 - Unaudited TIF 6 (d)TIF 19 (d)TIF 20 (d)TIF 22 (d)TIF 24 TIF 29 TIF 30 TIF 34 (d)TIF 40 TIF 41 TIF 42 TIF 43 TIF 45 TIF 46 GAAP Total Total EDA General GMEF TIF Future Raindance MS Shores Prairie West Downtown St. Henry's Front Porch CMHP Interchange Briggs UMC Headwaters Headwaters Block 52 WiHa Reconciliation EDA SCDP Revenues Property taxes 252,763$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 252,763$ -$ Tax increments - - - - - - 4,674 35,594 25,996 10,433 - 41,959 36,651 - - 111,291 29,674 - 296,272 - Charges for services 3,072 - - - - - - - - - - - - - - - - - 3,072 - Interest on loans - 12,458 - - - - - - - - - - - - - - - - 12,458 1,397 Total revenues 255,835 12,458 - - - - 4,674 35,594 25,996 10,433 - 41,959 36,651 - - 111,291 29,674 - 564,565 1,397 Expenditures: Current Salary and wages 74,424 - - - - - - - - - - - - - - - - - 74,424 - Benefits 24,963 - - - - - - - - - - - - - - - - - 24,963 - Supplies 106 - - - - - - - - - - - - - - - - - 106 - Professional services - legal 5,568 - - - - - - - - - - - - - - - - - 5,568 - Professional services - other 30,958 - - - - - - - - - - - - - - - - - 30,958 - LPV Insurance 1,371 - - - - - - - - - - - - - - - - - 1,371 - Legal and general publications 187 - - - - - - - - - - - - - - - 443 - 630 - Property taxes 3,573 - - - - - - - - - - - - - - - - - 3,573 - Marketing 5,000 - - - - - - - - - - - - - - - - - 5,000 - Dues and membership 6,999 - - - - - - - - - - - - - - - - - 6,999 - Utilities 2,722 - - - - - - - - - - - - - - - - - 2,722 - IT services 1,728 - - - - - - - - - - - - - - - - - 1,728 - Travel and conferences 2,455 - - - - - - - - - - - - - - - - - 2,455 - Qualifying TIF expenditures - - - 17,157 - 104,142 218,761 - - - 77,340 - - - - - - - 417,400 - Other expenditures 62,354 - - - - - - - - - - - - - - - - - 62,354 - Total expenditures 222,408 - - 17,157 - 104,142 218,761 - - - 77,340 - - - - - 443 - 640,251 - Net change in fund balances 33,427 12,458 - (17,157) - (104,142) (214,087) 35,594 25,996 10,433 (77,340) 41,959 36,651 - - 111,291 29,231 - (75,686) 1,397 Fund balance at beginning of year 4,698,397 1,257,798 (58,563) 799,849 37,719 104,142 248,445 115,764 76,360 32,926 77,340 21,049 (654,318) (431) (127,677) (431) 2,556 163,200 6,794,125 984,153 Fund balance at end of year 4,731,824$ 1,270,256$ (58,563)$ 782,692$ 37,719$ -$ 34,358$ 151,358$ 102,356$ 43,359$ -$ 63,008$ (617,667)$ (431)$ (127,677)$ 110,860$ 31,787$ 163,200$ 6,718,439$ 985,550$ Required or Actual Decertification Date 12/9/2013 12/31/2023 12/10/2018 12/31/2023 12/31/2026 12/31/2029 12/31/2029 12/31/2022 12/31/2045 12/31/2031 12/31/2050 12/31/2050 12/31/2050 12/31/2032 TIF District Type Redevelopment Housing Redevelopment Housing &Housing Housing Housing Redevelopment Housing Economic Housing Housing Redevelopment Economic (d) = decertified Redevelopment Development Development 1 | Page MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY 2025-2027 ECONOMIC DEVELOPMENT WORK PLAN EDA Purpose: The EDA is charged with coordinating and administering the City of Monticello’s economic development and redevelopment plans and programs. The EDA is also responsible for housing and housing redevelopment. EDA Work Plan Mission Statement: The EDA’s work plan is adopted in support of achieving the goals of the Monticello 2040 + Comprehensive Plan. The EDA will be proactive by developing and undertaking actions for achievement of the Comprehensive Plan’s Economic Development goals and will be reactive in responding to economic development opportunities as they arise in the most timely and effective manner possible. The EDA shall utilize the Economic Development Implementation Chart contained in the Comprehensive Plan as a guiding document creating its 2022-2024 Work Plan. Comprehensive Plan Goals: 1. Business Attraction and Retention 2. Tax Base Expansion 3. Downtown Vitality 4. Redevelopment and Reinvestment 5. Life Cycle Housing 6. Workforce Development 7. Promotion and Partnerships 8. Opportunity Focus Areas 2 | Page GOAL #1: BUSINESS ATTRACTION AND RETENTION Policy 1.1. Business and Employment Retention Strategies: 1. Maintain a strong Business Retention and Expansion (BR&E) program to monitor opportunities for continued growth and expansion of businesses as well as the continued relationship development between the City and existing businesses. 2. Identify and support companies that are expanding and adding employees. 3. Identify and promote programs that assist existing companies in expansion and creation of new jobs. 4. Assist and support companies in accessing business assistance programs including financing and educational programs. 5. Bring Businesses and Educations Organizations together to create training programs to foster new living wage opportunities. Policy 1.2: Local Business Support Strategies: 1. Facilitate relationships with existing businesses on the expansion, redevelopment and improvement of their buildings and facilities. 2. Utilize façade rehabilitation programs, small business loans, grants and other tools to encourage property reinvestment and support local businesses. 3. Foster partnerships and maintain networking relationships through BR&E (business retention and expansion) visits and business feedback roundtable meetings with the goal of sharing information and maintaining communication in support of existing businesses. GOAL #2: TAX BASE EXPANSION Policy 2.1: Diversify economic sectors to broaden the base of available living wage employment in the community. Strategies 1. Capitalize on the proximity to the I-94 regional transportation facilities, available land and educated and skilled workforce to create opportunities for job growth. 2. Inventory existing industry clusters by attracting similar and complementary businesses. 3. Work with existing business clusters to expand the attraction of supply chain companies. 4. Recognize changing land use patterns for industrial parks, and other or alternative uses such as co-working spaces. 3 | Page Policy 2.2: Maintain a business development and job creation toolbox to assist existing and future businesses. Strategies: 1. Identify and communicate new or innovative state and federal programs or grants which could be leveraged to support business development. 2. Proactively support small business start-up efforts through programs, collaborative efforts and various tools available for small businesses. Policy 2.3. Work collaboratively with partners to foster the attraction of new businesses. Strategies: 1. Continue to support the IEDC interactions within the Wright County Workforce Pathways efforts in addressing workforce needs and training. 2. Consider IEDC recommendations and be prepared to be a partner in potential solutions based on WCWFP findings. 3. Partner with Wright County EDA on infrastructure and development project funding as warranted. GOAL #3: DOWNTOWN VITALITY Policy 3.1: Implement the recommendations of the Downtown Small Area Plan. Strategies: 1. Support and advocate for improvements to the downtown area as envisioned in the Small Area Plan and Walnut Street Corridor Plan. 2. Develop and support the appropriate policies, programs, and incentives that enable the type of development described in the Plan. 3. Continue to build a funding base for use in property acquisition and redevelopment efforts in targeted areas. 4. Implement a façade improvement program for desired revitalization areas. 5. Continue to meet with downtown property owners with the goal of relationship building in informal group settings (Downtown Rounds) or individually and to understand their concerns with traffic, parking, land use and possible reinvestment in their property as well as willingness to sell, partner, desired price, etc. 6. Encourage continued incorporation of arts as an economic development tool for Downtown Monticello and the community at large. 7. Support opportunities for park and pathway development as consistent with the Downtown Small Area Plan. 8. Encourage the redesign of the pathway connection under the MN-TH #25 bridge to incorporate safety elements and improved lighting. 9. Ensure that greenway and pedestrian/cycle connections are considered within the downtown and from the downtown to other areas within the community. 10. Support park improvements in the downtown area. 4 | Page GOAL #4: REDEVELOPMENT & REINVESTMENT Policy 4.1: Redevelopment: Continue to support redevelopment efforts for publicly owned properties in Block 52, Block 34 and other EDA owned sites. Strategies: 1. Remain open to and analyze strategic opportunities for redevelopment throughout the community. 2. Proactively market Block 34, the Cedar/Broadway site, 4th Street site, West River Street parcel and the West 7th Street land tract to the commercial and residential development community towards a goal of attaining the highest and best use. 3. Engage with developers in an effort to identify an appropriate scale of redevelopment in Block 34 and support such efforts through the use of available economic development tools. GOAL #5: LIFE-CYCLE HOUSING Policy 5.1: Actively promote and seek opportunities for the development of a wide variety of housing types, styles and price points as a mechanism to support and attract employment. Strategies: 1. Develop revised policy statements for housing which address the identified 2023 Housing Study needs. 2. Continue to market workforce housing development on EDA owned land or at suitable sites in the City, including the Downtown. 3. Support efforts by private and non-profit entities to develop affordable housing projects utilizing state and federal programs. 4. Examine the use and application of available housing TIF dollars per the 2016 TIF Management Plan and the Direct Housing Aide funding as well as the adopted Policy Statements for Available TIF Funds. 5. Continue to periodically examine housing stock for aging or blighted properties and research development of programs for redevelopment and/or revitalization of existing housing. 6. Market the availability of incentives/subsidies available for development of housing. GOAL #6: WORKFORCE DEVELOPMENT Policy 6.1. Diversified and Skilled Workforce Strategies: 1. Support interactions with local organizations to address workforce needs and training. 2. Partner with Wright County Workforce Pathways (WCWFP) on solutions for workforce needs and training. 5 | Page 3. Promote Central Minnesota Jobs and Training Services as an option to Community College or university for students seeking alternative careers in the trades, manufacturing, and similar sectors. 4. Support the development of a plan to market living wage employment opportunities aimed at the local commuter workforce GOAL #7: PROMOTION & PARTNERSHIPS Policy 7.1: Create and maintain a comprehensive Marketing & Communication Strategy for priority sectors and locations. Strategies: 1. Identify community partners that can be regularly engaged and advised on economic development activities and events. 2. Engage with partners in the development and implementation of strategic marketing plans, including creation of an overall economic development brand, for various focus audiences and sectors of development; residential, commercial and industrial and redevelopment. 3. Incorporate the marketing of EDA incentive programs in a more proactive manner, both within the community and beyond, a. Present existing and new incentive programs to smaller community groups, local banks, realtors, and local businesses either in an informal group session or a formal roundtable format. b. Develop and communicate a “complete” development package program which provides support and assistance to prospects and developers from inquiry to construction. c. Measure the effectiveness of the marketing efforts to guide adjustments as needed. 4. Market industrial development at the Monticello Business Center (Otter Creek Business Park) to a broad variety of prospects as guided by the Comprehensive Plan. a. Focus on prospects which serve or rely on the St. Cloud and Twin Cities markets. b. Focus on supply chain prospects. 5. In collaboration with the IEDC, communicate with current business and industry in support of Business Retention & Expansion. a. Engage in informal business and industry small group meetings and explore potential format of helpful formal round tables meetings. b. Work with the Monticello Times to do a business spotlight or profile article two times per year. c. Leverage the networks of existing commercial and industrial entities currently doing business in and around Monticello. Policy 7.2: Engage as a partner in local and regional planning and development opportunities. Strategies: 1. Monitor the regional planning efforts of the Central Mississippi River Regional Planning Partnership (CMRRPP) and engage with feedback as requested. 6 | Page 2. Consider funding and/or completing studies that provide policy and strategy framework for desired land uses/or projects in the downtown and for other programs. 3. Monitor commuter rail development in and around the Twin Cities metro region for potential benefits and opportunities to serve Monticello. GOAL #8. OPPORTUNITY FOCUS AREAS Policy 8.1: Opportunity Focus Areas 1. Maintain open lines of communication with property and business owners to understand their long-term development objectives. 2. Consider strategies, loans, grants and other financing methods to boost reinvestment and improvements. 3. Encourage public infrastructure investment in these areas in an effort to support private investment. 4. Focus on additional outreach with the downtown businesses with a goal of further enhancing and supporting a dynamic vibrant core downtown area. Policy 8.2: Support community quality-of-life initiatives which act as economic development tools. Strategies: 1. Encourage and support coordinated planning and development of parks, trails in or near business districts. 2. Increase the visibility of the intersection of all amenities including parks and trails with the economic hubs of the city. 3. Support the development of Bertram Chain of Lakes Regional Park, including community Connections. Appendix: Monticello 2040 Vision + Plan, Economic Development and Implementation CITY OF MONTICELLO Schedule of Assets, Liabilities, Deferred Inflows of Resources, and Fund Balances Economic Development Authority & Small Cities Development Program June 30, 2025 - Unaudited TIF 6 (d)TIF 19 (d)TIF 20 (d)TIF 22 (d)TIF 24 TIF 29 TIF 30 TIF 34 (d)TIF 40 TIF 41 TIF 42 TIF 43 TIF 45 TIF 46 GAAP Total Total EDA General GMEF TIF Future Raindance MS Shores Prairie West Downtown St. Henry's Front Porch CMHP Interchange Briggs UMC Headwaters Headwaters Block 52 WiHa Reconciliation EDA SCDP ASSETS Cash and investments 1,762,690$ 830,811$ -$ 95,444$ 37,719$ -$ 34,358$ 151,358$ 102,356$ 92,690$ -$ 63,008$ 69,581$ -$ -$ 111,291$ 32,379$ -$ 3,383,685$ 903,437 Receivables Delinquent taxes 3,465 - - - - - - - - - - - - - - - - - 3,465 - Accounts 10,926 - - - - - - - - - - - - - - - - - 10,926 1,918 Intrafund receivable 109,779 - - 687,248 - - - - - - - - - - - - - (797,027) - - Notes receivable 127,246 439,445 - - - - - - - - - - - - - - - - 566,691 80,195 Land held for resale 2,759,929 - - - - - 163,200 - - - - - - - - - - - 2,923,129 - TOTAL ASSETS 4,774,035$ 1,270,256$ -$ 782,692$ 37,719$ -$ 197,558$ 151,358$ 102,356$ 92,690$ -$ 63,008$ 69,581$ -$ -$ 111,291$ 32,379$ (797,027)$ 6,887,896$ 985,550$ LIABILITIES Accounts and contracts payable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 127,246$ -$ -$ -$ 127,246$ -$ Intrafund payable - - 58,563 - - - - - - 49,331 - - 687,248 431 431 431 592 (797,027) - - Unearned revenue - - - - - - 163,200 - - - - - - - - - - (163,200) - - Escrow deposits 38,746 - - - - - - - - - - - - - - - - - 38,746 - Total liabilities 38,746 - 58,563 - - - 163,200 - - 49,331 - - 687,248 431 127,677 431 592 (960,227) 165,992 - DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes 3,465 - - - - - - - - - - - - - - - - - 3,465 - FUND BALANCES Restricted 121,740 1,270,256 - 782,692 37,719 - 34,358 151,358 102,356 43,359 - 63,008 (617,667) (431) (127,677) 110,860 31,787 163,200 2,166,918 985,550 Assigned Economic Development 4,588,594 - (58,563) - - - - - - - - - - - - - - - 4,530,031 - Façade Grant 21,490 - - - - - - - - - - - - - - - - - 21,490 - Total fund balance 4,731,824 1,270,256 (58,563) 782,692 37,719 - 34,358 151,358 102,356 43,359 - 63,008 (617,667) (431) (127,677) 110,860 31,787 163,200 6,718,439 985,550 TOTAL LIABILITIES, AND FUND BALANCES 4,774,035$ 1,270,256$ -$ 782,692$ 37,719$ -$ 197,558$ 151,358$ 102,356$ 92,690$ -$ 63,008$ 69,581$ -$ -$ 111,291$ 32,379$ (797,027)$ 6,887,896$ 985,550$ Required or Actual Decertification Date 12/9/2013 12/31/2023 12/10/2018 12/31/2023 12/31/2026 12/31/2029 12/31/2029 12/31/2022 12/31/2045 12/31/2031 12/31/2050 12/31/2050 12/31/2050 12/31/2032 TIF District Type Redevelopment Housing Redevelopment Housing &Housing Housing Housing Redevelopment Housing Economic Housing Housing Redevelopment Economic (d) = decertified Redevelopment Development Development CITY OF MONTICELLO Schedule of Revenues, Expenditures and Other Financing Sources (Uses) Economic Development Authority & Small Cities Development Program For the Period Ended June 30, 2025 - Unaudited TIF 6 (d)TIF 19 (d)TIF 20 (d)TIF 22 (d)TIF 24 TIF 29 TIF 30 TIF 34 (d)TIF 40 TIF 41 TIF 42 TIF 43 TIF 45 TIF 46 GAAP Total Total EDA General GMEF TIF Future Raindance MS Shores Prairie West Downtown St. Henry's Front Porch CMHP Interchange Briggs UMC Headwaters Headwaters Block 52 WiHa Reconciliation EDA SCDP Revenues Property taxes 252,763$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 252,763$ -$ Tax increments - - - - - - 4,674 35,594 25,996 10,433 - 41,959 36,651 - - 111,291 29,674 - 296,272 - Charges for services 3,072 - - - - - - - - - - - - - - - - - 3,072 - Interest on loans - 12,458 - - - - - - - - - - - - - - - - 12,458 1,397 Total revenues 255,835 12,458 - - - - 4,674 35,594 25,996 10,433 - 41,959 36,651 - - 111,291 29,674 - 564,565 1,397 Expenditures: Current Salary and wages 74,424 - - - - - - - - - - - - - - - - - 74,424 - Benefits 24,963 - - - - - - - - - - - - - - - - - 24,963 - Supplies 106 - - - - - - - - - - - - - - - - - 106 - Professional services - legal 5,568 - - - - - - - - - - - - - - - - - 5,568 - Professional services - other 30,958 - - - - - - - - - - - - - - - - - 30,958 - LPV Insurance 1,371 - - - - - - - - - - - - - - - - - 1,371 - Legal and general publications 187 - - - - - - - - - - - - - - - 443 - 630 - Property taxes 3,573 - - - - - - - - - - - - - - - - - 3,573 - Marketing 5,000 - - - - - - - - - - - - - - - - - 5,000 - Dues and membership 6,999 - - - - - - - - - - - - - - - - - 6,999 - Utilities 2,722 - - - - - - - - - - - - - - - - - 2,722 - IT services 1,728 - - - - - - - - - - - - - - - - - 1,728 - Travel and conferences 2,455 - - - - - - - - - - - - - - - - - 2,455 - Qualifying TIF expenditures - - - 17,157 - 104,142 218,761 - - - 77,340 - - - - - - - 417,400 - Other expenditures 62,354 - - - - - - - - - - - - - - - - - 62,354 - Total expenditures 222,408 - - 17,157 - 104,142 218,761 - - - 77,340 - - - - - 443 - 640,251 - Net change in fund balances 33,427 12,458 - (17,157) - (104,142) (214,087) 35,594 25,996 10,433 (77,340) 41,959 36,651 - - 111,291 29,231 - (75,686) 1,397 Fund balance at beginning of year 4,698,397 1,257,798 (58,563) 799,849 37,719 104,142 248,445 115,764 76,360 32,926 77,340 21,049 (654,318) (431) (127,677) (431) 2,556 163,200 6,794,125 984,153 Fund balance at end of year 4,731,824$ 1,270,256$ (58,563)$ 782,692$ 37,719$ -$ 34,358$ 151,358$ 102,356$ 43,359$ -$ 63,008$ (617,667)$ (431)$ (127,677)$ 110,860$ 31,787$ 163,200$ 6,718,439$ 985,550$ Required or Actual Decertification Date 12/9/2013 12/31/2023 12/10/2018 12/31/2023 12/31/2026 12/31/2029 12/31/2029 12/31/2022 12/31/2045 12/31/2031 12/31/2050 12/31/2050 12/31/2050 12/31/2032 TIF District Type Redevelopment Housing Redevelopment Housing &Housing Housing Housing Redevelopment Housing Economic Housing Housing Redevelopment Economic (d) = decertified Redevelopment Development Development EDA Agenda: 8/13/2025 6A. Economic Development Manager’s Report Prepared by: Economic Development Manager Meeting Date: 8/13/2025 ☒ Other Business Reviewed by: N/A Approved by: N/A REFERENCE AND BACKGROUND 1. Wright and Sherburne County Enterprise Academy being held at the MCC (12 sessions; Sept 11 – December 4, 2025) – See attached information – Exhibits A, B and C. 2. Nordic Downtown Façade Forgivable Loan Project: A loan was approved by the EDA in late May in the amount of $111,000 for work at Nordic TapHouse at 106 Walnut Street for façade improvements.  Approved Façade Improvement Costs - $114,503.84 o Exterior Painting - $35,031 o Stucco Repair - $30,566.80 o Framing, Railing, Awnings, Dumpster - $48,916.04  Approved Signage Improvement Costs - $22,527.24  Building Permit - $2,212.35 (Estimate by City staff)  Total Improvement Project Cost: $139,243.43 As required by the program policy The Nordic Brewing Co LLC DBA Nordic Tap House is required to contribute a minimum 5% match which totals $5,550.00. This requirement has been met with Nordic Taphouse’s partial payment for signage improvements. Loan Draw Progress Date Work Completed Amount June 3, 2025 Exterior Painting, Deck Railing Order, Waste Management, Permitting Fees $44,690.97 June 25, 2025 Exterior Signage and Permitting Fees $12,034.94 August 4, 2025 Stucco Repair, Awnings, Railings, Framing $42,669.62 The remaining balance of work to be completed is $11,604.47. Nordic is planning to have a small soft opening event in Mid-August. EDA Agenda: 8/13/2025 3. Business Retention & Expansion Efforts: The Industrial and Economic Development Committee (IEDC) and the EDA have completed 6 BR&E visits to date, well on way to the goal of conducing a total of 12 total BR&E visits in CY 2025. During the month of July members visited one additional business, Beef O Brady’s, while several more were scheduled for early and late August and early September. The purpose of the visits is to demonstrate support for local business investment and gather feedback on assistance and/or other tools to further encourage business development and retention in the community. More visits will be scheduled in July and August. 4. Downtown Rounds - September 18, 2025, 8:00 a.m. at Nordic Taphouse: Staff will hand deliver the invitations to the local businesses in early September. 5. Planning Commission Agendas – July 1, 2025 (workshop & regular): Please see attached exhibit D. 6. Project Updates – July 30, 2025: Please see attached exhibit E. 7. Prospect List – August 8, 2025: Please see attached exhibit F. www.MonticelloMN.gov OFFICE: 763-295-2711 FAX: 763-295-4404 505 Walnut Street Suite 1 Monticello, MN 55362 Wright - Sherburne Enterprise Academy |Summary The Wright County Economic Development Partnership (WCEDP) and Sherburne County Economic Development Authority are partnering to offer a multi-week course for entrepreneurs as an enterprise academy. This free course is open to entrepreneurs in Sherburne and Wright Counties to apply for an estimated 12-15 slots available for the 12-week course, commencing on September 11 and ending on December 4. The Enterprise Academy will be held at the MCC due to the City of Monticello’s central location in the two-county geographic area. The City of Monticello is sponsoring 3 of the 12 sessions through a free room ($50.00 donation x 3 = $150.00). Staff are recommending the EDA also consider a contribution of $250 towards hospitality food and drink (water, pop and bubbly) for the sessions. EDA members are encourage to pass the Enterprise Academy information onto friends and associates who may know of someone who may be a potential student attendee at the Academy. ACTION REQUESTED 1. Motion to approve up to $250 in hospitality related expenses of food and drink for the Wright and Sherburne County Enterprise Academy sessions being held at Monticello Community Center. The EDA would ask to have signage placed by the beverage and snack trays denoting “Sponsored by of the City of Monticello Economic Development Authority”. 2. Motion of other as determined by the EDA. Privacy - Terms View this page in Somali View this page in Spanish What You Will Learn Enterprise Academy is the single-largest early-stage entrepreneur training program in Central Minnesota. At the heart of the program is a 12-week business course that provides training and individualized advising to help underserved entrepreneurs start and grow small businesses. The expertly taught classes lead students through basic business principles and helps them start—and ultimately nish—a business plan. Graduates receive B U S I N E S S S E R V I C E SBUSINESS S E R V I C E S Enterprise AcademyEnterprise Academy ongoing technical support and can also apply for market-rate microloans through the Initiative Foundation. Meet Enterprise Academy Graduates Entrepreneur Training Aspiring entrepreneurs learn from business experts as they create their own individual business plan. Classes are once per week for 12 weeks and feature instruction in basic business principles and assistance in creating a business plan. Business Services & Support Expert consultants provide one-on-one business support services in areas such as recordkeeping, accounting, marketing and branding, web development, social media marketing and legal aspects of business. These services are available to qualifying existing businesses for a reduced fee. Small Business Lending The Enterprise Academy is supported by a lending program and provides access to microloans for businesses owners who may not be able to access traditional sources of capital, including culturally tailored lending. Direct loans are available for up to $50,000 for successful graduates of our Enterprise Academy program or to our business services and technical assistance clients who create a realistic business plan. Enterprise Academy borrowers may also gain access to larger loans through our traditional gap lending program, which requires a lead lender such as a bank or credit union. AGENDA WORKSHOP MEETING - PLANNING COMMISSION August 5, 2025 – 5:00 p.m. Mississippi Room, Monticello Community Center Commissioners: Chair Andrew Tapper, Vice-Chair Melissa Robeck, Rick Kothenbeutel, Teri Lehner, Rob Stark Council Liaison: Councilmember Kip Christianson Staff: Angela Schumann, Steve Grittman, Bob Ferguson, Tyler Bevier, Anne Mueller 1. Call to Order 2. Discussion on Amendments to 2040 Vision + Plan and Zoning Ordinance for single-family housing goals 3. Adjournment AGENDA REGULAR MEETING – PLANNING COMMISSION August 5, 2025 – 6:00 p.m. Mississippi Room, Monticello Community Center Commissioners: Chair Andrew Tapper, Vice-Chair Melissa Robeck, Rick Kothenbeutel, Teri Lehner, Rob Stark Council Liaison: Councilmember Kip Christianson Staff: Angela Schumann, Steve Grittman, Bob Ferguson, Tyler Bevier 1. General Business A. Call to Order B. Roll Call C. Consideration of Additional Agenda Items D. Approval of Agenda E. Approval of Meeting Minutes • Workshop Meeting Minutes – July 1, 2025 • Regular Meeting Minutes – July 1, 2025 F. Citizen Comment 2. Public Hearings A. Consideration of Preliminary and Final Plat for Spaeth Industrial Park Fourth Addition Applicant: Spaeth Development, LLC and Spaeth Properties, LLC B. Consideration of Amending the Monticello City Code, Title XV: Land Usage, Chapter 153: Zoning Ordinance, Section § 153.012 Definitions, § 153.027 Common Review Procedures and Requirements, § 153.028 Specific Review Procedures and Requirements, § 153.040 General Provisions, § 153.042 Common District Requirements, § 153.067 Off-Street Parking, § 153.070 Building Materials, § 153.060 Landscaping and Screening, § 153.064 Signs, and § 153.092 Accessory Use Standards Applicant: City of Monticello PLANNING COMMISSION WORKSHOP MEETING (Academy Room) 5:00 p.m. Discussion on Amendments to 2040 Vision + Plan and Zoning Ordinance for single-family housing goals C. Consideration for Variance to Setback for free-standing sign for a Place of Public Assembly use in an R-1 (Single Family) Residential District Applicant: RHL, Inc This applicant has requested that this item be tabled to the September regular meeting pending action on Item 2B of this agenda. The public hearing notice for this item was mailed to property owners, but was not published. A cancelation notice for the hearing was sent to property owners. No public hearing or action is required on this item. 3. Regular Agenda A. Consideration to Adopt a Resolution Finding the Proposed Sale of Certain Land by The City of Monticello for Commercial Purposes is consistent with The City of Monticello Comprehensive Plan 4. Other Business A. Community Development Director’s Report 5. Adjournment EDA Agenda: 8/13/25 1 Project Update Headwaters Villa Twin Homes: The 60-unit Phase 1 twin home rental housing development project for ages 55 + on 7th Street West is now complete and is leasing up. The 22-twin home unit Phase 2 project is progressing with infrastructure installed (streets and utilities) and permitting getting started on footing and foundations. The additional Phase 2 units are general occupancy rentals and again prefabricated (assembled in Albertville at the AVR facility) and will be completed by the end of 2025. The total number of rental units in phases 1 and 2 totals 82 with 33 units required (40 percent) to be rented by households of low- and moderate-income levels (60 percent of the AMI; Wright County). Big River Commercial Development - Chelsea Road: A Les Schwab Tire Center (15,136 sq. ft.) is under construction in the Big River Commercial Development near the Chipotle Restaurant along Chelsea Road. Chipotle opened its restaurant in this commercial development project near Fenning Avenue in late December 2024. A Starbucks coffee shop also recently opened for business as well. Valvoline Oil (2,673 sq. ft.) is also pursuing development of a pad ready site in the 10-acre development project. Fairfield By Marriott Hotel: Construction of the 98-room hotel development project is progressing. The Boulder Tap House Restaurant, which is an attached facility, is expected to be completed in late 2025 with construction of the hotel likely to wrap up early July 2026. The hotel will also have small conference rooms to accommodate meetings and events in its facilities. The cost of the entire project is approximately $21,500,000. A total of 45 to 50 jobs will be created through this development. The City and County both provided financial assistance through Tax Abatement. This was the City’s first use of this financial assistance tool in support of a non-infrastructure development project. The combined assistance from the City and County will total $742,655 over a 10-year time frame. Nordic Tap House and Restaurant: Nordic Tap House is expected to complete its move into the former Bessie Antique Store at 106 Walnut Street (near the Block 52 building and West Bridge Park) in mid-August. The façade improvements to the building were funded through the EDA’s Façade Improvement Forgivable Loan Program. EDA total Façade Loan approved by the EDA was $111,000. EDA Agenda: 8/13/25 2 Discount Tire: A proposed Discount Tire sales and service store is working its way through the final review and permitting steps. This facility is proposed for a 2.04-acre parcel located at 1300 7th Street East. Wendy’s Restaurant: A building permit for a new Wendy’s Restaurant is currently under review. The location of the proposed 2,300 sq. ft. restaurant development is at 261 Highland Way. EDA Loan Applications: The EDA will be considering several loan applications for new development projects and property acquisitions in the coming months (90 days). The GMEF and SCDP Loan programs are intended to be utilized as a gap financing tool to support business growth and expansion and job creation. Recently Completed Multi-Family Rental Development Updates:  Savanna Vista MF Apartment Lease Up = 167 out of 200 now leased (16.5 percent vacancy) -opened August and November 2024 (two buildings at 100 units each)  Block 52 MF Apartment Lease Up = 100 percent occupied (87 units) – open 20 months ago  CHC Twin homes – Phase 1 Lease Up = 54 out of 60 units now leased – opened February 2024 (20 months). Date of Contact Company Name Business Category Project Description Building‐Facility Retained Jobs New Jobs Total Investment Project Status 5/22/2018 Karlsburger Foods Food Products Mfg.Facilty Expansion 27,000 sq. ft. +/-42 10 to 20 $4,500,000 On Hold 2/28/2022 Project Emma II Light Ind-Assembly New Construction 20,000 sq. ff.0 4 $1,350,000 Active Search 10/28/2021 Project Stallion Technology Service New Construction 42,000 sq. ft.40 $3,600,000 On Hold 8/11/2022 Project Sing Precision Machining New Construction 400,000 sq. ft.0 500 $90,000,000 Active Search 5/30/2023 Project Flower-M & M Commercial Concept Expansion ????Concept 6/9/2023 Project Pez Mfg New Construction 30,000 to 35,000 sq. ft.12 7 $3,500,000 Active Search 8/16/2023 Project Lodge RT4 Lodging-Hopsitality New Construction 98 Room Hotel N/A 30 $21,500,000 Under Constr 2/12/2024 Project Lodge- MSMWDC Lodging-Hospitality New Construction ?0 10 $22,500,000 Identified Site 3/5/2024 Project Panda 20‐ MS Child Care Facility New Construction 27,100 sq. ft. 0 43 $5,500,000 Site Selected 3/29/2024 Project ET-BB-12-9 Industrial Relocate ‐ Existing Bldg 12,000 sq. ft.12 $1,150,000 Identified Site 4/12/2024 Project Rest B52 Restaurant New build out‐Finish 5,000 sq. ft. +/-0 15 1500000 +/-Identified Site 5/30/2024 Project EP-BDDC LACW Data Center New Construction ??????Identified Site 7/30/2024 Project EPG 40x2-50 Industrial New Construction 40,000 sq. ft. 0 40 $4,000,000 Active Search 12/3/2024 Project LEI Pack Industrial New Construction 52,500 sq. ft. 0 21 $16,500,000 Active Search 1/14/2025 Project Megawatt Industrial New Construction 650,000 to 1,300,000 sq. ft. 0 592 $757,000,000 Active Search 2/5/2025 Project Nordic Resturant-Taphouse Relocate ‐ Remodel‐4,300 sq. ft. 9 1 $1,090,000 Identified Site 4/15/2025 Project BB Food Service-Retail Renovation 6,000 sq. ft. 0 25 $2,500,000 Identifed Site 5/19/2025 Project 7030-B-O Industrial New Construction 70,000 sq. ft.0 30 $7,300,000 Site Search 6/11/2025 Project Black Sabil Industrial New Construction 1,000,000 sq. ft.8000 $960,000,000 Active Search 7/19/2025 MC Outdoors Industrial Service New Construction 8,200 sq. ft.0 14 $1,500,000 Site Selected 7/25/2025 Project BOM Service Retail Acquisition‐Renovation 3,000 sq. ft 0 6 $550,000 Site Selected Contacts: M= 03 YTD = 17 PROSPECT LIST 07/31/2025