EDA Agenda - 12/10/2025 (Workshop)AGENDA
WORKSHOP - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, December 10, 2025 – 5:00 p.m.
Academy Room, Monticello Community Center
Commissioners: President Steve Johnson, Vice President Jon Morphew, Treasurer Hali Sittig,
Rick Barger, Clinton Berglof, Councilmember Tracy Hinz, Mayor Lloyd Hilgart
Staff: Executive Director Jim Thares, Rachel Leonard, Angela Schumann,
Tyler Bevier
1.Call to order
2.Roll Call
3.GMEF Loan Pre-App Review – Sperr Properties, LLC (154 W Broadway)
4.GMEF Loan Pre-App Review – Cassie Mallinger, Fitness Studio (101 W
Broadway)
5.Adjournment
1
Legal name of applicant:
Address:
Telephone number:
Name of contact person:
REQUESTED INFORMATION
Addendum shall be attached hereto addressing in detail the following:
1. A map showing the exact boundaries of proposed development.
2. Give a general description of the project including size and location of building(s); business
type or use; traffic information including parking, projected vehicle counts and traffic flow;
timing of the project; estimated market value following completion.
3. The existing Comprehensive Guide Plan Land Use designation and zoning of the property.
Include a statement as to how the proposed development will conform to the land use
designation and how the property will be zoned.
4. A statement identifying how the increment assistance will be used and why it is necessary to
undertake the project.
5. A statement identifying the public benefits of the proposal including estimated increase in
property valuation, new jobs to be created, hourly wages and other community assets.
6. A written description of the developer’s business, principals, history and past projects
I understand that the application fee will be used for EDA staff and consultant costs and may be partially
refundable if the request for assistance is withdrawn. Refunds will be made at the discretion of the EDA
Board and be based on the costs incurred by the EDA prior to withdraw of the request for assistance. If
the initial application fee is insufficient, I will be responsible for additional deposits.
SIGNATURE
Applicant's signature:
Date:
Cassie Mallinger
101 West Broadway St, Monticello, MN 55362
Cassie Mallinger
11/13/2025
2
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
Application for Business Assistance Financing
GENERAL INFORMATION:
Business Name: Date:
Address:
Type (Partnership, etc.):
Authorized Representative: Phone:
Description of Business:
Legal Counsel:
Address: Phone:
FINANCIAL BACKGROUND:
1. Have you ever filed for bankruptcy?
2. Have you ever defaulted on any loan
commitment?
3.Have you applied for conventional
financing for the project?
4. List financial references:
a.
b.
c.
Financial Assistance Seeking *0(F 7,F S&'3 'RZntRZn
FacaGe
7a[
AEatePent
Renewed Pilates 11/13/2025
101 West Broadway St, Monticello, MN 55362
Limited Liability Company (single-member)
Cassie Mallinger
Reformer Pilates studio offering classes and private training.
To be determined
No
No
No
Falcon National Bank – Maple Grove, MN (personal banking)
Local Monticello bank (business account to be opened prior to launch)
WomenVenture – microloan application in progress
4
3
5. Have you ever used Business Assistance Financing before?
If yes, what, where and when?
PROJECT INFORMATION:
1. Location of Proposed Project:
2. Amount of Business Assistance requested?
3. Need for Business Assistance:
4. Present ownership of site:
5. Number of permanent jobs created as a result of project?
6. Estimated annual sales:Present: Future:
7. Market value of project following completion:
8. Anticipated start date:Completion Date:
FINANCIAL INFORMATION:
1. Estimated project related costs:
a. Land acquisition $
b. Site development
c. Building cost
d. Equipment
e. Architectural/engineering fee
f. Legal fees
g. Off-site development costs
No
101 West Broadway St, Monticello, MN 55362 (Block 52)
25,000
EDA funds support equipment & early startup capital.
Leased / Block 52 Developer
1 full-time, 1 part-time
0 150,000-200,000
Approximately $200,000
December 2025 February 2026
0
0
153,450
62,000
8,000
2,000
1,000
4
2. Source of financing:
a. Private financing institution $
b. Tax increment funds
c. Other public funds
d. Developer equity
50,000 (Bank loan)
0
25,000 (EDA loan)
159,450 (TI + owner eq.)
5
PLEASE INCLUDE:
1. Preliminary financial commitment from bank.
2. Plans and drawing of project.
3. Background material of company.
4. Pro Forma analysis.
5. Financial statements.
6. Statement of property ownership or control.
7. Payment of application fee of $250.00
RENEWED PILATES EDA ADDENDUM
Submitted by: Cassie Arlene Mallinger, Owner & Lead Instructor
Location: Block 52 Development, Monticello, Minnesota
1. Business Overview
Renewed Pilates is a boutique reformer-based Pilates studio opening within the Block 52
development in downtown Monticello. The studio will offer small-group reformer classes, private
sessions, and beginner- to post-rehab–friendly movement instruction. The environment
emphasizes safety, clarity, proper form, and community connection.
Mission Pillars
● Honest Movement — evidence-informed, low-impact exercise
● Transparent Wellness — clear pricing with no contracts or hidden fees
● Community-Centered Support — accessible, instructor-led movement for all abilities
Monticello currently has no equipment-based Pilates studio offering reformers, towers, or
classical apparatus. Renewed Pilates will fill this service gap and meet rising demand for
guided, low-impact strength training.
2. Owner Background & Qualifications
My name is Cassie Arlene Mallinger, and I am the owner and lead instructor of Renewed
Pilates. I bring a strong track record of delivering high-quality instruction, maintaining long-term
client relationships, and generating consistent revenue.
Proven Revenue & Retention
For the past two years, I have taught Pilates and small-group training at Life Time Fitness and
have consistently maintained ~50 active clients. My instruction produces $7,000–$10,000 in
monthly revenue, demonstrating:
● Strong member retention
● Recurring session purchases
● Established trust in my programming
● Clear demand for my teaching style
Teaching Expertise
I teach:
● Reformer Pilates
● Mat Pilates
● Alignment-based functional movement
● Posture, mobility & core progression
● Older-adult & beginner-friendly programming
● Private and small-group sessions
My clientele already aligns with the target demographic for Renewed Pilates.
3. Target Market & Membership Goals
Monticello and surrounding cities include over 30,000 adults who fit the ideal demographic:
women 25–55, adults 55+, post-rehab clients, beginners, and individuals seeking structured
low-impact exercise.
There is currently no classical Pilates studio providing equipment-based instruction in
Monticello.
Primary Client Segments
Segment Core Needs Why They Choose Renewed
Pilates
Women 25–55 Structure, confidence,
consistency
Trusted instructor + clear guidance
Adults 55+ Balance, mobility, posture Small class sizes + safe instruction
Post-rehab Continuation after PT/Chiro Injury-aware programming +
partnerships
New/returning
exercisers
Accountability + gentle
progression
Highly supportive environment
Membership Growth Projections
Timeline Member Goal Notes
Pre-Opening 15–20 Early revenue stabilization
Month 3 35–45 Standard ramp-up
Month 6 55–60 Break-even point
End of Year 1 80–100 Consistent with MN boutique benchmarks
These goals are supported by local market demand, population density, industry retention
averages (70–85%), and my personal 85% retention rate.
4. Marketing & Community Growth Strategy
A. Digital Presence
● Google Business Profile
● SEO-optimized website with transparent pricing
● Testimonial and educational social media content
● Email/SMS onboarding + retention
B. Healthcare & Community Partnerships
Planned collaborations include:
● Physical therapy clinics
● Chiropractors
● Pelvic floor specialists
● Local churches and wellness providers
Projected to contribute 10–20% of new members annually.
C. Referral & Loyalty Programs
● 2 monthly guest passes per member
● $20 referral credit for both parties
● Member milestone recognition
Referral programs typically generate 25–35% of boutique studio growth.
D. Additional Revenue Streams
● Workshops (Back Pain, Desk Worker Mobility, Posture Basics)
● 6–8 week challenges
● Retail (grip socks, apparel)
● Private small-group sessions
5. Financial Structure & Purpose of the EDA Loan
Funding Sources
● Bank Loan: $50,000
● EDA Loan Request: $25,000
● WomenVenture Microloan: ~$10,000
● Owner Contribution: ~$7,000
● Additional Grants/Aid: $2,000–$3,000
6. How the EDA Loan Will Be Used
The EDA loan will be used specifically to purchase Pilates equipment for the Renewed
Pilates Fitness Center, ensuring the studio opens fully outfitted for small-group classes and
private instruction.
Equipment to Be Purchased (Vendor: Balanced Body Inc.)
Balanced Body – Bravo Reformer™ with Tower and Mat
● Unit Cost: $5,250 each
● Model: Bravo Reformer™ with Tower and Mat
● Product Number: 18997
● Vendor: Balanced Body (Pilates equipment manufacturer – US-based)
● Quantity Needed: 6
● Estimated Total: $31,500 + applicable shipping/taxes
Equipment Description (requested for clarity):
● Eco-friendly recycled polywood frame
● Integrated Tower for expanded exercise options
● Mat Conversion system for comfort & versatility
● Smaller footprint with Cadillac-level functionality
● Suitable for studios with diverse age and ability levels
Estimated Funding Allocation:
● $25,000 of the EDA loan will be applied toward equipment acquisition.
● Remaining equipment balance will be covered by the bank loan and owner contribution.
7. Business Plan Submission Note
Per advisor recommendation, I will not attach the full business plan to the initial application
packet.
Instead:
● I will bring printed copies to the EDA review meeting for reference.
● Copies will be handed out during the discussion and collected afterward to prevent
distribution to the general public or potential competitors.
● I will state in the application that a “recently completed business plan is available upon
request.”
8. Closing Statement
Renewed Pilates is a strong, low-risk investment supported by proven instruction experience,
consistent client demand, and realistic financial planning. The EDA loan plays a vital role in
equipping the studio appropriately, ensuring it launches with the capacity, quality, and stability
needed for long-term success.
Thank you for your consideration and support of small-business development in Monticello.
Sincerely,
Cassie Arlene Mallinger
Owner & Lead Instructor, Renewed Pilates