EDA Agenda - 12/10/20251
AGENDA
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, December 10, 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 and Mayor Lloyd Hilgart
Staff: Executive Director Jim Thares, Rachel Leonard, Angela Schumann, Tyler
Bevier
1.General Business
A.Call to Order
B.Roll Call 6:00 p.m.
C.Consideration of Additional Agenda Items
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 October 8, 2025 Regular Meeting Minutes
C.Consideration of Approving October 22, 2025 Regular Meeting Minutes
D.Consideration of Approving November 12, 2025 Regular Meeting Minutes
4.Public Hearing
N/A
5.Regular Agenda
A.Consideration of Façade Forgivable Loan Program Overview Update
B.Consideration of approving TIF District 1-43 Purchase Price Note payoff using pooled
TIF dollars from Affordable Housing TIF Districts 1-19, and 1-22 and 1-24
ECONOMIC DEVELOPMENT AUTHORITY WORKSHOP
Monticello Community Center
5:00 p.m.
5:30 p.m.
GMEF Loan Pre-App Review – Sperr Properties, LLC (154 WBroadway)
GMEF Loan Pre-App Review – Cassie Mallinger, Fitness Studio (101
Broadway)
EDA Regular Meeting Agenda – December 10, 2025
2
C.Consideration of Update of Proposed Senior Homeowner Rehabilitation Loan
Program Draft Policy
6. Other Business
A.Consideration of Economic Development Manager’s Report
7. Adjournment
User:
Printed:11/19/2025 - 3:49PM
julie.cheney@monticellomn.gov
Transactions by Account
Batch:00202.11.2025
Accounts Payable
Account Number Vendor AmountGL DateDescription Check No PO No
213-46301-430400 KUTAK ROCK LLP GENERAL EDA LEGAL 130836 375.0011/12/2025
375.00Vendor Subtotal:
213-46301-431990 GROMBERG & ASSOCIATES LLC PROJECT STARFISH INDUSTRIAL DEV PROPOSAL 130830 500.0011/12/2025
500.00Vendor Subtotal:
213-46301-443990 QUEEN BEE'S GARDENS & FLORALFLOWERS-MFG BREAKFAST EVENT 130849 585.0011/12/2025
585.00Vendor Subtotal:
Subtotal for Fund: 213 1,460.00
Report Total: 1,460.00
AP-Transactions by Account (11/19/2025 - 3:49 PM)Page 1
User:
Printed:11/20/2025 - 12:23PM
julie.cheney@monticellomn.gov
Transactions by Account
Batch:00203.11.2025
Accounts Payable
Account Number Vendor AmountGL DateDescription Check No PO No
213-46301-430400 CAMPBELL KNUTSON PA PA-DEV CONTRACT - MS Daycare 0 35.0011/25/2025
35.00Vendor Subtotal:
213-46301-430400 KUTAK ROCK LLP GENERAL EDA LEGAL 130895 345.0011/25/2025
345.00Vendor Subtotal:
213-46301-443990 VICKI LEERHOFF FOOD - SNACK GIFT BAGS FOR PROSPECTIVE IND. FIRM 0 60.0011/25/2025
60.00Vendor Subtotal:
Subtotal for Fund: 213 440.00
Report Total: 440.00
AP-Transactions by Account (11/20/2025 - 12:23 PM)Page 1
User:
Printed:11/19/2025 - 3:47PM
julie.cheney@monticellomn.gov
Transactions by Account
Batch:00201.11.2025
Accounts Payable
Account Number Vendor AmountGL DateDescription Check No PO No
213-46301-438200 CITY OF MONTICELLO 130 Broadway E. (EDA strmwtr - formerly the Zoo) 7/3/2019 new fee 0 31.5011/15/2025
213-46301-438200 CITY OF MONTICELLO 216 Pine St (EDA - old Finders Keepers consignmt by old DMV) 0 53.8211/15/2025
85.32Vendor Subtotal:
213-46301-443990 US BANK CORPORATE PMT SYSTEMMONTICELLO CHAMBER OF COMMERCE - Chamber Lunch - Oct (JT) 0 40.0011/15/2025
213-46301-443990 US BANK CORPORATE PMT SYSTEMDOMINOS - Food Special Mtg - EDA 0 17.6611/15/2025
213-46301-443990 US BANK CORPORATE PMT SYSTEMSTYLE CATERING - Cater - Manufacturer Appreciation Breakfast 0 2,285.2211/15/2025
2,342.88Vendor Subtotal:
Subtotal for Fund: 213 2,428.20
Report Total: 2,428.20
AP-Transactions by Account (11/19/2025 - 3:47 PM)Page 1
User:
Printed:12/01/2025 - 1:02PM
julie.cheney@monticellomn.gov
Transactions by Account
Batch:00204.11.2025
Accounts Payable
Account Number Vendor AmountGL DateDescription Check No PO No
213-46301-431991 DEMVI LLC Parking Lot Maintenance - Nov 2025 0 213.8611/30/2025
213.86Vendor Subtotal:
213-46301-438100 CENTERPOINT ENERGY 12045691-8 - 216 Pine St 0 18.3311/30/2025
18.33Vendor Subtotal:
213-46301-438100 XCEL ENERGY 101 E 3rd St (216 Pine St) - formerly Finders Keepers 0 19.9511/30/2025
19.95Vendor Subtotal:
Subtotal for Fund: 213 252.14
Report Total: 252.14
AP-Transactions by Account (12/01/2025 - 1:02 PM)Page 1
The preceding list of bills payable totaling $4,580.34 was approved for payment.
Date: 12/10/25 Approved by:________________________________________
Hali Sittig - Treasurer
MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, October 8, 2025 – 6:00 p.m.
Mississippi Room, Monticello Community Center
Commissioners Present: President Steve Johnson, Vice President Jon Morphew,
Treasurer Hali Sittig, Rick Barger, Mayor Lloyd Hilgart (left at 7:20
p.m.), Councilmember Tracy Hinz
Commissioners Absent: Clint Berglof
Staff Present: Executive Director Jim Thares, Community Development Director
Angela Schumann, Tyler Bevier
1. General Business
A. Call to Order
President Steve Johnson called the regular meeting of the Monticello Economic
Development Authority to order at 6:00 p.m.
B. Roll Call 6:00 p.m.
Mr. Johnson called the roll.
2. Approval of Agenda
None
3. Consent Agenda
A. Consideration of Payment of Bills
B. Consideration of Approving Regular Meeting Minutes – September 24, 2025
C. Consideration of Approving Wright County Economic Development Partnership
(WCEDP) CY 2026 Annual Dues in the amount of $4,046
HALI SITTIG MOVED TO APPROVE THE CONSENT AGENDA. RICK BARGER SECONDED THE
MOTION. MOTION CARRIED UNANIMOUSLY, 6-0.
4. Public Hearing
A. Consideration Facade Loan Business Subsidy – Stellar Property Investments, LLC; 124
West Broadway (Liquor Lounge building) – Consideration of $100,000 Façade Loan
Community Development Coordinator Tyler Bevier provided an overview of the item. A
Pre-application workshop was held on September 13 to review and discuss the
submitted improvement plans and contractor quotes for the proposed exterior
improvements. They include stucco replacement, roof repairs, framing, and soffit. He
suggested the loan funding be used for the stucco repairs, painting and window
replacement. That subtotal is $108,987.68 of the $178,000 +/- façade project. Stellar
Properties will contribute a minimum of 5% match ($5,000), paid to the contractor in
cash with a receipt as well as proof of all other required funding prior to EDA funds
being released.
DR
A
F
T
EDA Regular Meeting Minutes – 10/08/2025
2
Mr. Bevier noted this is the first of the two façade loan applications for public hearing
this evening. The current façade loan sub-fund balance is $201,209.07. Each funding
request is $100,000. For this request, staff recommends approval of $100,000 and
waving the $5,000-$50,000 policy maximum funding guidance based on the properties’
two visible sides and the extensive improvements proposed.
Mr. Johnson opened the public hearing portion of the agenda item.
Mr. Johnson closed the public hearing portion of the agenda item.
LLOYD HILGART MOVED TO APPROVE EDA RESOLUTION #2025-08 AUTHORING A
FAÇADE IMPROVEMENT FORGIVABLE LOAN TO STELLAR PROPERTY INVESTMENTS, LLC,
124 WEST BROADWAY (LIQUOR LOUNGE BUILDING), IN THE AMOUNT OF $100,000 AND
FURTHER WAVING THE POLICY RELATED TO THE MAXIMUM FUNDING. RICK BARGER
SECONDED THE MOTION.
MOTION CARRIED UNANIMOUSLY, 6-0.
B. Consideration Facade Loan Business Subsidy – Sperr Properties, LLC; 154 West
Broadway (former Cornerstone Café building) – Consideration of $100,000 Façade
Loan
Tyler Bevier provided an overview of the agenda item. A Pre-application workshop was
held on September 13 to review and discuss the submitted plans and quotes related to
the proposed façade improvement. The total project is estimated to be $170,000 +/-.
He said the applicant has submitted all application items except for the rendering. This
will be included once a design is completed.
Mr. Bevier said the total project costs are currently $167,000 plus the building permit
fees. Also, the dumpsters, site cleanup, are not factored into the costs. Sperr
Properties LLC is to contribute a minimum 5% match ($5,000), paid to the contractor in
cash with receipt as evidence plus proof of all additional required project funding prior
to the EDA funds being released.
Mr. Bevier noted that the façade loan sub-fund has a current uncommitted balance of
$101,209.07. He said staff recommend the EDA approve the loan for $100,000
contingent upon the purchase transaction documents being provided by Larry Sperr and
as well as the improvement renderings as per the workshop discussion. Mr. Bevier
described a September 18 site visit in which color palate, roofline, windows and the
awning and signage were reviewed. He pointed out the improvements are proposed for
two sides (north and west) of the former Cornerstone Café building.
Mr. Johnson opened the public hearing portion of the agenda item.
Larry Sperr, co-owner of Sperr Properties, LLC dba L&L Homestyle Café, pointed out the
proposed improvements and the need for funding assistance to help bring the building
back to a more attractive look. He said closing date for the property purchase is
scheduled for October 31, 2025.
Mr. Thares added that the considerations for the EDA are contingent on receiving the
DR
A
F
T
EDA Regular Meeting Minutes – 10/08/2025
3
identified items. Or, alternatively, the EDA can table the request to its next regular
meeting, scheduled for October 22, 2025.
Mr. Sperr confirmed that tabling the request to October 22 will not affect the outcome
for the closing. He further added that the appraisal came back with a lower valuation,
and that will require that with his banker’s help fill an unexpected funding shortfall of
$20,000. He is currently discussing this issue with his banker. He said he hopes to
complete extensive interior improvements and the façade upgrades and be end of 2025.
Mr. Johnson closed the public hearing portion of the agenda item.
HALI SITTIG MOVED TO TABLE THE AGENDA ITEM TO THE OCTOBER 22, 2025 EDA
MEETING. JON MORPHEW SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY,
6-0.
5. Regular Agenda
A. Consideration of EDA direction related to CHC’s affordable housing TIF Districts 1 -42
and 1-43 regarding potential amendments modifying (swapping) age restricted and
general occupancy units in each District as well as a minor modification related to the
timeline of District 1-43 and authorizing the EDA attorney to prepare amendment
documents and the EDA resolution for future consideration
Mr. Thares provided an overview of the agenda item. Staff are asking for directions
regarding minor amendments related to the CHC Affordable Housing TIF Districts 1-42
and 1-43 wherein the age restricted targets would be swapped between each district
and the timeline for TIF District 1-43 would be extended by one year due to increment
disbursement errors by Wright County.
Mr. Thares provided an update of Phase 1, TIF District 1-43. It is a 60-unit attached side-
by-side rental townhome development targeted at age 55+ renters. He noted that 40%
(24 units) are to be rented to low- to moderate-income households. He shared that the
developer has indicated it is facing challenges leasing about 9 remaining affordable units
to age 55 + applicants.
He also updated the EDA on the development status of Phase 2, TIF District 1-42. It was
originally proposed as a 108-unit apartment complex dedicated to residents aged 55+
and to have 44 affordable units. He said that in the spring of 2024 the City Council and
EDA approved a modification changing the development to a townhome development
with 22 side by side units intended for General Occupancy (all ages) rentals. Nine of the
units are to be rented to low- and moderate-income households. At this time, Mr.
Thares said the site has been graded, utilities and streets are completed, and footings
and foundations are being poured for the 22 units. Placement of the prefabricated
units will occur in late 2025 and may extend into early 2026.
CHS is proposing an amending wherein 9 units in TIF District 1-43 would be rented as
General Occupancy (all ages) households. At the same time, the TIF 1-42 development
amendment proposes to have 9 units designated as Senior age 55+ rentals.
DR
A
F
T
EDA Regular Meeting Minutes – 10/08/2025
4
He further shared that Wright County made an error in the TIF 1-43 increment payment
schedule in mid-2025 and they are proposing to correct this oversight by extending the
life the TIF District by one full year….to 2051 versus 2050. There are no budgetary
impacts from this proposed time extension.
Further EDA discussion occurred and Wes Butler, CHC, LLC (developer-owner) explaining
the challenge in renting units near I-94 to income eligible senior households. He said
they plan to build fencing along the freeway in the future to address noise. They have
had rental inquiries from younger income eligible households and could have already
filled four of the remaining nine units. CHC must rent the remaining units soon to attain
stabilization and allow a more favorable refinancing to occur. Similarly, the Phase 2
development would be more attractive to the general rental market by offering age
flexibility versus 22 units dedicated to General Occupancy. Butler noted that HUD
regulations allow flexibility in mixing age categories in specific developments. He
suggested the EDA consider using the same “senior housing” definition as HUD as
another method to achieve the same goal and possibly not needing to amend legal
documents.
Mr. Thares clarified that no documents (amendments) have been drafted yet. He said
staff are asking the EDA to authorize preparation of required amendments to bring back
to the EDA for future consideration to achieve the identified ages change goals for each
TIF District as well as the timeline extension for TIF District 1-43.
TRACY HINZ MOVED TO AUTHORIZE THE EDA ATTORNEY TO PREPARE APPROPRIATE TIF
DEVELOPOMENT CONTRACT MINOR AMENDMENTS RELATED TO AFFORDABLE
HOUSING TIF DISTRICT 1-42 AND 1-43 MODIFYING AGE DESIGNATIONS AND EXTENDING
THE TIMELINE AS NEEDESD. LLOYD HILGART SECONDED THE MOTION.
Mr. Morphew said it might be helpful to further discuss the item in a workshop. EDA
members asked Mr. Butler about the likelihood of achieving more rental agreements
through the proposed age designation changes. He replied that four applicants were
recently turned down for not qualifying due to age. Again, he said that the changes
would also benefit Phase 2 as well through age flexibility.
Members discussed and concurred that it would be helpful to discuss it again at the
October 22, 2025, regular meeting.
TRACY HINZ RECINDED THE ACTIVE MOTION. LLOYD HILGART SECONDED THE MOTION,
ALSO RECINDING.
HALI SITTIG MOVED TO TABLE THE MATTER FOR EDA DIRECTION FOR FURTHER
DISCUSSION RELATING TO POTENTIAL MINOR AMENDMENTS TO AFFORDABLE
HOUSING TIF DISTRICT 1-42 AND 1-43. JON MORPHEW SECONDED THE MOTION. THE
MOTION CARRIED UNANIMOUSLY, 6-0.
DR
A
F
T
EDA Regular Meeting Minutes – 10/08/2025
5
TRACY HINZ MOVED TO ADJUST THE TIMELINE OF TIF DISTRICT 1-43 AND TO AUTHORIZE
THE EDA ATTORNEY TO PREPARE THE REQUIRED AMENDMENT DOCUMENTS. RICK
BARGER SECONDED THE MOTION.
Discussion was had when Mr. Johnson asked how the County might provide restitution
for legal fees to correct their error. Mr. Thares noted the administrative portion of the
increment would be available for the EDA to use to pay the legal fees incurred for this
effort.
THE MOTION CARRIED UNANIMOUSLY, 6-0.
6. Economic Development Manager’s Report
Mr. Thares provided an update of the Business Retention & Expansion (BR&E) visits, the
Downtown Rounds and development other projects currently underway.
Mr. Thares also shared information about the Manufacturer’s Month activities taking place
on October 10. He noted that the Appreciation Breakfast keynote speakers are King
Banaian, SCSU Economics Professor, and Jill Kedrowski, Monticello Middle School STEM
program. About 20 students are expected to attend as well.
Mr. Thares offered updates about the October Planning Commission meeting and
workshops related to the proposed data center ordinance as well as the recent building
permits and development prospects.
No action was taken on the item.
7. Adjourn
TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO EDA. HALI
SITTIG SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. MEETING
ADJOURNED AT 7:20 P.M.
Recorded by: Anne Mueller___
Approval Date: December 10, 2025
Attest:
______________________________________________
Jim Thares, Executive Director of the EDA
DR
A
F
T
MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, October 22, 2025 – 7:00 a.m.
Academy Room, Monticello Community Center
Commissioners Present: President Steve Johnson, Vice President Jon Morphew,
Treasurer Hali Sittig, Clint Berglof, Mayor Lloyd Hilgart,
Councilmember Tracy Hinz
Commissioners Absent: Rick Barger
Staff Present: Executive Director Jim Thares, City Administrator Rachel Leonard,
Tyler Bevier
1. General Business
A. Call to Order
President Steve Johnson called the regular meeting of the Monticello Economic
Development Authority to order at 7:00 a.m.
B. Roll Call 7:00 a.m.
Mr. Johnson called the roll.
2. Consideration of Additional Agenda Items
None
3. Consent Agenda
A. Consideration of Approving Amended Regular Meeting Minutes – September 24, 2025
B. Consideration of Approving Regular Meeting Minutes – August 13, 2025
CLINT BERGLOF MOVED TO APPROVE THE CONSENT AGENDA. TRACY HINZ SECONDED
THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0.
4. Public Hearing
None
5. Regular Agenda
A. Consideration of Resolution 2025-09 Authorizing a Façade Improvement Forgivable
Loan to Sperr Property Investments, LLC; 154 West Broadway (former Cornerstone
Café building) in the amount of $100,000
Executive Director Jim Thares reminded EDA members of the item tabled after the
public hearing on October 8, 2025. A rendering of the proposed façade improvements at
154 West Broadway has since been received. It was also noted that the resolution
language includes language authorizing the Forgivable Loan to Sperr Property
Investments, LLC in the amount of $100,000 and waiving the policy related to the
maximum funding.
DR
A
F
T
EDA Regular Meeting Minutes – 10/22/2025
2
Mr. Thares stated that Sperr Properties is not yet the owner of the property, with the
purchase transaction scheduled to close on October 31, 2025, or in early November. He
explained that the purchase agreement includes an extensive list of required renovation
items, along with a breakdown of financial sources and uses totaling more than
$818,000. Mr. Thares noted the funding sources for the global project (property
purchase, interior renovations and exterior façade improvements). It shows a line item
of a proposed $62,000 GMEF loan, per the GMEF Loan Pre-application received on
Tuesday (10-21-25).
Mr. Thares explained that Bolton & Menk provided a rendering of the façade
improvements. It shows improvements to the north (front) and west (side) portions of
the building. He also noted that the applicant hired a private licensed inspector for the
property, resulting in a report summarizing needed maintenance and repairs, a long with
a summary response from the City Building Official regarding the contractor’s inspection
report.
Mr. Thares also described his discussion with Mr. Sperr regarding the global funding
requests and noted that it will involve a separate business subsidy consideration by the
EDA at a future meeting. In the applicant’s absence, Mr. Thares explained the EDA’s
application review process and the likely future workshop for this funding request.
Mr. Thares reminded members that the policy authorizes a façade loan between $5,000
and $50,000, though the EDA may deviate from its policies when the property merits
additional funding due to its high visibility and prominence in the downtown area.
TRACY HINZ MOTIONED TO APPROVE EDA RESOLUTION #2025-09 AUTHORIZING A
FAÇADE IMPROVEMENT FORGIVABLE LOAN TO SPERR PROPERTY INVESTMENTS, LLC,
154 WEST BROADWAY (FORMER CORNERSTONE CAFÉ BUILDING), IN THE AMOUNT OF
$100,000, AND FURTHER WAIVING THE POLICY RELATED TO THE MAXIMUM FUNDING.
MOTION SECONDED BY JON MORPHEW.
Steve Johnson suggested that all requested EDA funding should be first authorized and
underwritten comprehensively. EDA members noted that the current funding structure
shows the applicant’s property acquisition down payment contribution of nearly
$250,000 clearly demonstrates “skin in the game,”.
Mr. Johnson asked if the façade improvement decision should be tabled to the
November 12, 2025, EDA meeting to allow the applicant to finalize financial information
as well as any additional material needed for the GMEF Loan review. Members noted
that the GMEF review would occur later and the façade loan is a stand-alone funding
request and item that is currently under consideration.
Mr. Johnson then said he believed that a contingency should be included in the
agreement regarding the acquisition of the property. EDA members concurred.
DR
A
F
T
EDA Regular Meeting Minutes – 10/22/2025
3
TRACY HINZ AMENDED THE MOTION TO INCLUDED A CONTINGENCY REQUIRING SPERR
PROPERTY INVESTEMNETS, LLC TO PURCHASE THE PROPERTY. MOTION SECONDED BY
CLINT BERGLOF. MOTION CARRIED UNANIMOUSLY, 6-0.
B. Consideration of authorizing the EDA attorney to prepare TIF District 1-42 and 1-43
amendments modifying age restricted (55 +) and general occupancy (all ages) units in
each of the respective Districts for future consideration
Mr. Thares provided an overview of the item which had been tabled from the October 8,
2025, regular EDA meeting. He referred to an illustration of the proposed age changes
units in each TIF District that would be accomplished through the proposed
amendment. He then introduced Wes Butler, Executive Director, CHC, LLC.
Mr. Butler explained the proposed proportional exchange of the represented General
Occupancy (GO) and age-restricted (“55+”) units, as well as anticipated leasing results.
He said this proposal will help provide financial stability for both phases of the 82-unit
twin home development project.
When asked about the occupancy of the 60 units, Mr. Butler reported that 41 were
currently occupied and 50 were financially secured, although some leases are nearing
expiration. The nine vacant units would be re-designated to an appropriate age category
with affordability requirements as needed to allow CHC to meet the TIF affordable unit
compliance. The proposed amendments would offer leasing flexibility and help meet
market demand. Several applicants for the Phase 1 (TIF 1-43) units have been turned
away as they are under the age of 55.
Mr. Butler reviewed the status of the two phases of the development and how HUD
criteria factors into eligibility. He noted that the proposed changes relate only to the age
designations. The affordable units remain consistent with the original plan under State
Statute.
Mr. Johnson observed that the proposed modifications would help alleviate the
affordable housing deficit identified in the housing study and align with the EDA’s
perspective within the Monticello 2040 Vision + Plan.
HALI SITTIG MOTIONED TO AUTHORIZE THE EDA ATTORNEY TO PREPARE AMENDMENTS
TO AFFORDABLE HOUSING TIF DISTRICTS 1-42 AND 1-43, WITH THE OBJECTIVE OF
ADJUSTING AFFORDABLE AGE-RESTRICTED AND AFFORDABLE GENERAL OCCUPANCY
UNITS BETWEEN THE TWO DISTRICTS, WITH THE SPECIFIC CONDITION THAT THE
OVERALL NUMBER OF AFFORDABLE UNITS AND THE NUMBER OF AGE-RESTRICTED
SENIOR UNITS IS ACHIEVED ACROSS THE TOTAL OF 82 UNITS, AND ANY OTHER
CONDITIONS AS ASSIGNED BY THE EDA. THE MOTION WAS SECONDED BY CLINT
BERGLOF.
Members discussed the phases of the development, including the developer’s
complications with refinancing and construction during phase one, and the previous
DR
A
F
T
EDA Regular Meeting Minutes – 10/22/2025
4
removal of age restrictions for phase two. Members also noted potential scenarios
related to capacity, leasing longevity, and the broader need for affordable housing.
Mr. Butler stated that of the nine unleased units, he had received four qualifying
applications on a waiting list. He added that some seniors had been turned away
because they did not meet income qualifications. He also mentioned the possibility of
adding fencing for highway screening to improve appeal to prospective renters.
He also stated that most renter applicants are age 65 or older. EDA members discussed
perspectives related to cross-generational living among individuals aged 55–65 with
immediate family members.
Mr. Ferguson suggested that the remaining nine units were likely the least desirable due
to their proximity to the freeway. Mr. Butler confirmed this assessment. He said the
planned fencing will help mitigate the noise levels. He also noted that sound-
dampening measures were incorporated into construction. Mr. Ferguson agreed,
stating that the units are quiet inside.
In response to a question regarding the low -lying swampy area on the undeveloped
portion, Mr. Butler explained that proper landscaping would allow it to function as a
natural pond again. He will coordinate with property maintenance to ensure proper
wetland protection.
Additional discussion continued regarding progress on foundation work and
construction timelines. Mr. Ferguson pointed out the progress in the Phase 2
development component. He said several permits were recently issued with
construction in progress. He expects several units to be completed before the end of
the year. Mr. Butler indicated that the full project completion, including all landscaping,
is targeted for June/July 2026. Units will be available for occupancy as they are
completed. Mr. Ferguson summed up the efficiency of construction using prefabricated
dwellings brought in by crane, allowing for the potential completion of ten units within
one week.
MOTION CARRIED UNANIMOUSLY, 6–0.
C. Other Business
Economic Development Manager’s Report
Mr. Thares provided an overview to the EDA regarding the following:
• An upcoming Business Retention & Expansion (BR&E) visit to Pedigo Bikes
• A Downtown Rounds Meeting on November 20, 2025, at Coco Maas
• Enterprise Academy (Entrepreneurship Training) classes (Thursdays, September
11 – December 4) sponsored by Wright/Sherburne Counties, snacks-beverages
compliments of the Monticello EDA
• Progress Update of the 98 room Fairfield by Marriott Hotel Development
DR
A
F
T
EDA Regular Meeting Minutes – 10/22/2025
5
• Rustech Brewing Equipment Sales Update (Loan Default and Bankruptcy
implications and steps)
• Sales Tax Collections
• Prospects List and Upcoming meetings
6. Adjourn
TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO EDA.
HALI SITTIG SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0.
MEETING ADJOURNED AT 8:10 A.M.
Recorded by: Anne Mueller___
Approval Date: December 10, 2025
Attest:
______________________________________________
Jim Thares, Executive Director of the EDA
DR
A
F
T
MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, November 12, 2025 – 6:00 p.m.
Mississippi Room, Monticello Community Center
Commissioners Present: President Steve Johnson, Treasurer Hali Sittig, Rick Barger, Clint
Berglof, Mayor Lloyd Hilgart
Commissioners Absent: Vice President Jon Morphew, Councilmember Tracy Hinz
Staff Present: Executive Director Jim Thares, Community Development Director
Angela Schumann, Tyler Bevier
1. General Business
A. Call to Order
President Steve Johnson called the regular meeting of the Monticello Economic
Development Authority to order at 6:00 p.m.
B. Roll Call 6:00 p.m.
Mr. Johnson called the roll.
C. Consideration of Additional Agenda Items
None
2. Approval of Agenda
Mr. Johnson suggested considerations for A. and B. of Item 5. be combined and motions for
both will commence as one; Mr. Thares agreed.
3. Consent Agenda
A. Consideration of Payment of Bills
B. Consideration of Approving August 13, 2025, Workshop Minutes
C. Consideration of Approving September 10, 2025, Regular Meeting Minutes
HALI SITTIG MOVED TO APPROVE THE CONSENT AGENDA. RICK BARGER SECONDED THE
MOTION. MOTION CARRIED UNANIMOUSLY, 5-0.
4. Public Hearing
N/A
5. Regular Agenda
Discussion and consensus for Items 5A. and 5B. were combined:
A. Consideration of Resolution No. 2025-10 authorizing an amendment to Affordable
Housing TIF District 1-42 Amended and Restated Purchase and Development Contract
EDA Regular Meeting Minutes – 11/12/2025
2
between the EDA and CHC Monticello II, LLC, designating up to 9 of 22 twin home
units in the development project as intended for age 55 + households
B. Consideration of Resolution No. 2025-11 authorizing an amendment to Affordable
Housing TIF District 1-43 Purchase and Development Contract between the EDA and
CHC Monticello, LLC allowing up to 9 of 60 units in the development project to be
rented without age restrictions (to under 55 + households) and adjusting the start and
endpoint timeline of the TIF District by one calendar year
Mr. Thares provided background to the proposed amendments which he noted were
previously discussed at the October 8 and October 22, 2025 regular EDA meetings. He
specifically pointed out the following:
TIF 1-42 (Phase Two)
The EDA is asked to authorize the proposed minor amendment to the Affordable
Housing TIF District 1-42 Development Contract wherein up to 9 of 22 twin home units
are to be designated as available for rent to age 55+ households.
TIF 1-43 (Phase One)
The EDA is asked to approve the minor First Amendment to the Affordable Housing TIF
District 1-43 Purchase and Development Contract allowing up to 9 of the 60 units to be
rented to nonrestricted age households of all ages (general occupancy – GO).
Additionally, the proposed amendment adjusts the timeline of the TIF District by one full
calendar year to accommodate for Wright County’s error resulting in missed increment
payments to the City in 2025. This aspect of the amendment is not optional and requires
affirmative EDA action to formalize it. Mr. Thares presented an illustration of the
proposed age designation changes for each TIF District. He summarized the key point
of the proposal by the developer, CHC Monticello II, LLC, as a way address the leasing
challenges.
Wes Butler, Executive Director of CHC Monticello II, LLC introduced himself and
recognized the efforts by EDA and staff to allow the considerations to be addressed. He
explained the rental application steps, turn-over and leasing requirements all of which
plays a role in the key goal of refinancing the development. He mentioned that as of
this date, 49 units are leased units, with 44 currently occupied. He also noted two
pending applications for general occupancy (currently designated 55+). The goal is to be
able to achieve stability over the next two years to complete the refinancing.
RICK BARGER MOVED TO ADOPT RESOLUTION NO. 2025-10 AUTHORIZING AN
AMENDMENT TO AFFORDABLE HOUSING TIF DISTRICT 1-42 AMENDED AND RESTATED
PURCHASE AND DEVELOPMENT CONTRACT BETWEEN THE EDA AND CHC MONTICELLO
II, LLC, DESIGNATING UP TO 9 OF 22 TWIN HOME UNITS IN THE DEVELOPMENT PROJECT
AS INTENDED FOR AGE 55 + HOUSEHOLDS. CLINT BERGLOF SECONDED THE MOTION.
MOTION CARRIED UNANIMOUSLY, 5-0.
EDA Regular Meeting Minutes – 11/12/2025
3
RICK BARGER MOVED TO ADOPT RESOLUTION NO. 2025-11 AUTHORIZING AN
AMENDMENT TO AFFORDABLE HOUSING TIF DISTRICT 1-43 PURCHASE AND
DEVELOPMENT CONTRACT BETWEEN THE EDA AND CHC MONTICELLO, LLC ALLOWING
UP TO 9 OF 60 UNITS IN THE DEVELOPMENT PROJECT TO BE RENTED WITHOUT AGE
RESTRICTIONS (TO UNDER 55 + HOUSEHOLDS) AND ADJUSTING THE START AND
ENDPOINT TIMELINE OF THE TIF DISTRICT BY ONE CALENDAR YEAR. HALI SITTIG
SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0.
6. Other Business
Economic Development Manager’s Report
Mr. Thares provided an update about the Business Retention & Expansion (BR&E) visits
completed in 2025. The most recent was with Pedigo Bikes. Efforts are under way to
schedule one more in 2025. He informed the EDA on the Downtown Rounds (11-18-25),
provided updates on the November Planning Commission meeting and workshops as
well as the local sales tax and development prospects.
No action was taken on the item.
7. Adjournment
CLINT BERGLOF MOVED TO ADJOURN THE NOVEMBER 11, 2025, EDA MEETING. HALI SITTIG
SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. THE MEETING
ADJOURNED AT 6:29 P.M. AND ENTERED INTO A CLOSED MEETING TO DISCUSS THE
AGENDA ITEM BELOW.
Closed Session - Consideration of adjourning to Develop or Consider Offers or Counteroffers
for the Purchase or Sale of Real or Personal Property Pursuant to Minnesota Statute 13D.05,
Subdivision 3(c)(3)
PID: 155-010-035070 (0.14 acres / 5,927.74 sq. ft.)
Address: 108 Broadway W
Recorded By: Anne Mueller ____
Date Approved: December 10, 2025
____________________________________________
Jim Thares, Executive Director of the Monticello EDA
EDA Agenda: 12/10/2025
5A. Consideration of Update of Overview Façade Improvement Forgivable Loan Program
Prepared by:
Economic Development Manager,
Community Economic Development
Coordinator
Meeting Date: ☒Regular Agenda Item
☐Consent Agenda Item
Reviewed by:
Community Development Director,
Finance Director
Approved by:
City Administrator
ACTION REQUESTED
For review purposes; action to be determined by the EDA.
REFERENCE AND BACKGROUND
The Downtown Façade Improvement Program was a deliverable from the 2017 Downtown
Small Area Plan action steps that spoke to the immediate next steps and implementation with a
goal to “Bolster Broadway with a façade improvement program”, and encourage more retail
vitality through a strategy of “Establish a façade improvement program that offers financial
support for investments that improve the visual appearance of buildings and district identity.”
The guidelines for the program were adopted in August 2018 by the EDA, with outreach efforts
beginning in the Fall of 2018. Initially, six properties showed interest in the program. Outreach
efforts included mailers, the downtown rounds newsletter, and Downtown Rounds in-person
events.
To start, the program was formed as a grant program. Upon advice from the EDA attorney, it
was transitioned to a forgivable loan format. The Agosto Law Office was the first project and it
was completed in 2020.
Interest in the program increased in 2024 with an additional three projects. That was followed
by three more projects in 2025 and a potential applicant in the queue for 2026 consideration.
A summary of the program activity to date:
Façade #1 | Agosto Law Office
•Grant Amount: $50,000
•Total Façade Improvements (Public & Private): $105,696.95
•Improvements
o Signage, EFIS, electrical & framing
EDA Agenda: 12/10/2025
Façade #2 | Bliss Salon
•Forgivable Loan Amount: $48,422
•Total Façade Improvements (Public & Private): $50,971
•Improvements
o Windows and Stucco
Façade #3 | Block 52
•Forgivable Loan Amount: $50,000
•Total Façade Improvements (Public & Private): $127,000 +/-
•Improvements
o EFIS siding
Façade #4 | Murray Dance Studio
•Forgivable Loan Amount: $100,000
•Total Façade Improvements (Public & Private): $127,339 +/-
•Improvements
o Windows, Canopies, Siding, Brick Cleaning and Staining, Roofing
Façade #5 | Monticello Family Dentistry
•Forgivable Loan Amount: $12,513
•Total Façade Improvements (Public & Private): $13,172
•Improvements
o Signage, new door, brick staining, and concrete work
Façade #6 | Nordic Taphouse
•Forgivable Loan Amount: $111,000
•Total Façade Improvements (Public & Private): $129,780
•Improvements
o Signage, stucco, painting, framing, awnings, and railings
•Additional interior improvements valued at more than $147,000 +/-
Façade #7 | Liquor Lounge (In-progress)
•Forgivable Loan Amount: $100,000
•Total Façade Improvements (Public & Private): $199,981
•Improvements
o Stucco, framing, windows, roofing, soffit, and electrical
Façade #8 | L&L Homestyle Café (Commencing Soon)
•Forgivable Loan Amount: $100,000
EDA Agenda: 12/10/2025
•Total Façade Improvements (Public & Private): $170,000
•Improvements
o Stucco, windows, awning, entry door
•Additional interior improvements valued at more than $97,000 +/-
The total downtown façade improvement funding provided by the EDA amounts to $571,935.
The façade improvement dollars have leveraged private funding for the 8 buildings totaling
about $352,723 +/-.
The tables below illustrate the private funds leveraged for the program relative to the public
investment and property value impacts.
*Façade total does not include CMAB Art Mural
0
50000
100000
150000
200000
250000
Agosto Law Bliss Salon Block 52 Murray
Dance
Studio
Monticello
Family
Dentistry
Nordic
TapHouse*
Liquor
Lounge
L&L
Homestyle
Café
Downtown Facade Program : Public & Private Investment
Façade Loan/Grant (Public)Façade Total (Public + Private)
EDA Agenda: 12/10/2025
I.Budget Impact:
The Façade Loan sub-fund currently has $1,209.07 remaining to offer for future projects. If
additional façade funding applications are submitted, the EDA will need to consider adding
more funds to the program.
II. Staff Workload Impact:
City staff involved in this consideration include the Community Development Director,
Community Economic Development Coordinator, Economic Development Manager and Finance
Director. At this point in time no other staff are required to complete the tasks involved in this
effort.
III.Comprehensive Plan Impact:
The Monticello 2040 Vision + Plan identifies the Downtown as a “development focus” area with
the intent of promoting investment and redevelopment of key properties and parcels in the
City’s core area.
By utilizing EDA funding through a formal Façade Improvement Forgivable Loan program, the
Small Area Plan and Comprehensive Plan goals are being achieved. The 8 projects have
resulted in noticeable exterior building upgrades as well as producing a more aesthetic and
inviting look and feel in the downtown core area.
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Agosto Law
Office
Bliss Salon Murray Dance
Studio
Monticello
Family
Dentistry
Nordic
TapHouse
Liquor Lounge L&L Homestyle
Café
Downtown Facade Project Valuation Change 2019-2025
2019 Value 2025 Value
EDA Agenda: 12/10/2025
STAFF RECOMMENDATION:
This item is meant as an update on the progress of the program. While no formal
recommendation is offered by staff, the EDA may wish to direct next steps, financial
contributions or policy changes regarding the façade funding program.
EDA discussion about the program target area and the general number of façade loans that
can be realistically completed (funding limitations) in a 12-month, or 24-month time frame
may help guide staff efforts in coming months. Staff will also continue to explore
opportunities to leverage the EDA façade funding with other grant programs such as CDBG –
SCDP in the future with a target of mid-2026 updates to the EDA.
SUPPORTING DATA
A. Summary Graphic: Façade Improvement Projects
Agosto Law Office
New signage
New EFIS siding
New Windows
Bliss Salon
New signage
New Stucco
New Windows
Removed previous
awnings
Block 52
New EFIS siding
Monticello Family
Dentistry
New Signage
Brick staining
New Doors
Murray Dance Studio
New Windows
New Metal Siding
New Awnings
Nordic TapHouse
Stucco Repair
New Paint
Signage
Railings for Rooftop Patio
Liquor Lounge
Stucco Repair
Windows
Roofing
Soffit
L&L Homestyle Cafe
Stucco
Paint
Awnings
Entry
Downtown Monticello
Façade Improvement Projects
Downtown Target Area
Project completed
Project in-progress
Project interest for 2026
Eligible Projects
Within the Downtown target area
$5,000 to $50,000 per project
Façade improvements, including
windows, doors, siding, brick,
stucco, masonry, painting, steps,
cornices, parapets, shutters,
dormers, signage, awnings, and
roof repairs
All projects are subject to the
approval of the Economic
Development Authority, zoning,
and building safety compliance.
EDA Agenda: 12/10/25
5B. Consideration of Authorizing Purchase Price Note Payoff related to the Headwaters-
CHC Twin Home Development in TIF District 1-43 utilizing Pooled TIF dollars from TIF
Districts 1-19, TIF District 1-22 and TIF District 1-24
Prepared by:
Economic Development Manager
Meeting Date:
12/10/25
☒ Regular Agenda Item
☐ Consent Agenda Item
Reviewed by:
Community Development Director,
Finance Director, Community &
Economic Development Coordinator
Approved by:
City Administrator
ACTION REQUESTED
Motion to authorize a Purchase Price Note Payoff related to the Headwaters-CHC, LLC twin
home development in TIF District 1-43 utilizing pooled TIF dollars from TIF Districts 1-19, 1-22
and 1-24.
REFERENCE AND BACKGROUND
The EDA is asked to consider authorizing the Purchase Price Note Payoff for the Headwaters
Development-CHC, LLC twin home development project on 7th Street West related to TIF
District 1-43. A total of $127,246 is the outstanding balance of purchase price of the land sale.
The TIF Development agreement allowed the land sale total purchase price to be paid either
from increment generated by the new twin home development (60 twin homes) or with pooled
increment dollars from other existing affordable housing TIF Districts. Utilizing pooled
increment from existing TIF Districts allows the purchase payoff to occur sooner and reduce
administrative tasks for City staff as two of the TIF Districts (1-19 and 1-22) can be closed out
with no additional reporting to the Office of the State Auditor required beyond 2025.
As a reminder the 16.71-acre land parcel was sold to Headwaters Development in two separate
transactions in late November 2022 for $1.00 per sale with Purchase Price Notes executed and
immediately paid down by a significant amount through pooled Affordable Housing TIF dollars
as outlined in the 2022 Pooled TIF Allocation Plan, adopted by the EDA on May 25, 2022 (see
attached exhibit). Staff propose paying the Purchase Price Note down through pooled
increment as follows:
TIF 19 MS Shores: $37,719 – this district can then be closed out for OSA reporting in
2025
TIF 22 Downtown: $30,038 – this district can then be closed out for OSA reporting in
2025 (with Zoo parcel held for resale to be internally tracked until Block 34 develops)
TIF 24 St. Henry’s: $59,489
EDA Agenda: 12/10/25
Going forward, the EDA’s portion of the increment generated by the new twin home
development in TIF District 1-43 and TIF District 1-42 will be “Pooling” and be available to
support potential future affordable housing development projects.
I. Budget Impact: The budget impact related to EDA consideration of authorizing the payoff of
the TIF District 1-43 Purchase Price Note is positive in that the EDA General Fund will see a
receipt of a land payment receivable totaling $127,246. The administrative aspect is also
positive in that reporting tasks will be reduced as well. Pooled TIF dollars will also slowly
begin to grow in TIF District 1-43 going forward.
II. Staff Workload Impact: In-house City staff involved in consideration of the Payoff of the
Purchase Price Note related to TIF District 1-43 involved the Community Development
Director, Finance Director and Economic Development Manager. No other staff are
required to complete the work in this effort.
III. Comprehensive Plan Impact: N/A
STAFF RECOMMENDATION
Staff recommend that the EDA authorize the Purchase Price Note Payoff for TIF District 1-43
through available pooled TIF dollars as proposed. The payoff of the outstanding land purchase
price using pooled TIF dollars is positive in that the EDA General Fund will receive $127,246 in
revenue.
SUPPORTING DATA
A. Purchase Price Note – TIF District 1-43
B. TIF District 1-43 EDA Resolution 2022-24 (approved 7-27-2022)
C. 2022 Pooled TIF Allocation Plan (approved 5-25-2022)
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO.2022-24
RESOLUTION AWARDING THE SALE OF, AND
PROVIDING THE FORM, TERMS, COVENANTS AND
DIRECTIONS FOR THE ISSUANCE OF A TAX
INCREMENT REVENUE NOTE AND APPROVING A
PURCHASE AND DEVELOPMENT AGREEMENT WITH
HEADWATERS DEVELOPMENT LLC INCLUDING THE
CONVEYANCE OF LAND
BE IT RESOLVED BY the Board of Commissioners ("Board") of the City of Monticello
Economic Development Authority, Monticello, Minnesota (the "Authority") as follows:
Section 1. Recitals.
1.01. Authorization. The Authority and the City of Monticello, Minnesota (the "City")
have approved the establishment of Tax Increment Financing (Housing) District No. 1-43
Headwaters Villas Project) (the "TIF District"), within the Central Monticello Redevelopment
Project No. 1 ("Redevelopment Project") and have adopted a tax increment financing plan
therefore for the purpose of financing certain public improvements within the Redevelopment
Proj ect.
1.02. To facilitate development of certain property in the TIF District, on June 8, 2022 the
Authority previously approved the delivery of a Purchase and Development Contract (the
Agreement") with Headwaters Development LLC, a Minnesota limited liability company, or an
affiliate thereof or entity related thereto (the "Developer"), under which among other things the
Authority will convey to the Developer certain property in the City with a current parcel ID of
155033900010 located at the southeast corner of 7t' Street West and Golf Course Road to be replatted
as legally described in Exhibit A attached hereto (the "Development Property") at a cost below market
value in order for the Developer to construct approximately 60 rental housing units for seniors with
attached two -car garages (the "Minimum Improvements").
1.03. The Developer has requested to amend certain terms of the Agreement including
adding a provision of the Agreement setting forth the Authority's obligation to reimburse the
Developer for a portion of the Developer's costs incurred to remediate certain environmental
clean-up costs (the "Authority Grant") which constitutes a substantial change and requires
reapproval by the Board.
1.04. The Authority proposes to sell the Development Property to the Developer at the price
of $789,303 which will be paid from cash in the amount of $1.00 and a Purchase Price Note (the
Purchase Price Note") from the Developer in the amount of $789,302 which will be repaid from
F-1
MN 190\163\801191.v3
available tax increment generated by the Development Property in accordance with the Agreement.
In addition, the Authority proposes to reimburse the Developer for certain public development costs
for the Minimum Improvements in the amount not to exceed $1,590,087 through the issuance of a
pay as you go tax increment financing note (the "TIF Note") subject to the terms and conditions set
forth in the Agreement.
1.05. On June 8, 2022) the Authority conducted a duly noticed public hearing regarding the
conveyance of the Development Property to the Developer pursuant to the Agreement, at which all
interested parties were given an opportunity to be heard. The Authority hereby finds that the
execution of the Agreement and performance of the Authority's obligations thereunder, including the
conveyance of the Development Property to the Developer, are in the best interest of the City and its
residents.
1.06. The Authority and the City have previously established Tax Increment Financing
District Nos. 1-6, 1-191 1-225 1-241 1-299 1-30 (the "Pooled TIF Districts") and adopted tax
increment financing plans therefore. The Authority currently has pooled tax increment available
from the Pooled TIF Districts. The Authority intends to prepay its obligation to use available tax
increment from the Development Property to pay the Purchase Price Note and the Authority Grant
with pooled tax increment from the Pooled TIF Districts.
Section 2. Agreement and Land Sale Approved.
2.01 The Board approves the Agreement in substantially the form presented to the
Board, together with any related documents necessary in connection therewith, including without
limitation all documents, exhibits, certifications, or consents referenced in or attached to the
Agreement including without limitation the Deed and any documents required by the title company
relating to the conveyance of property (all as defined in the Agreement) (the "Development
Documents"). The Board hereby approves the conveyance of the Development Property to the
Developer in accordance with the terms of the Agreement.
2.02. The Board hereby authorizes the President and Executive Director, in their
discretion and at such time, if any, as they may deem appropriate, to execute the Development
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. The
Development Documents shall be in substantially the form on file with the Authority and the
approval hereby given to the Development 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 and the Development Documents shall not be effective until
the date of execution thereof as provided herein.
F-2
MN 190\163\801191.v3
2.03. 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 City Attorney, may act in their behalf. Upon execution and delivery of the
Development Documents, the officers and employees of the Board are hereby authorized and
directed to take or cause to be taken such actions as may be necessary on behalf of the Board to
implement the Development Documents, including without limitation the issuance of tax
increment revenue obligations thereunder when all conditions precedent thereto have been
satisfied and reserving funds for the payment thereof in the applicable tax increment accounts and
the crediting of tax increments to the payment of the Purchase Price Note when all conditions
precedent thereto have been satisfied.
Section 3. TIF Note Authorized; Use of Pooled Tax Increment Approved.
3.01. The Authority hereby approves issuance of the TIF Note pursuant to the Agreement.
The TIF Note shall be issued in the maximum aggregate principal amount of $1,590,087 to the
Developer in consideration of certain eligible costs incurred by the Developer under the Agreement,
shall be dated the date of delivery thereof, and shall bear interest at a rate to be set at the lesser of the
Developer's actual mortgage financing rate or 4.50%. The TIF Note will be issued in a single series
designated the Taxable Tax Increment Revenue Note (Headwaters Villas Project) issued in the
principal amount of $1,590,087 to reimburse the Developer for certain costs in accordance with
Section 3.10 of the Agreement. The TIF Note is secured by TIF Note Available Tax Increment, as
further described in the form of the TIF Note attached hereto as Exhibit B. The Authority hereby
delegates to the Executive Director the determination of the date on which the TIF Note is to be
delivered, in accordance with the Agreement.
3.02. The Authority hereby authorizes and approves the use of pooled tax increment from
the Pooled TIF Districts to prepay its obligation to use available tax increment from the
Development Property and to provide the Authority Grant in accordance with the Agreement.
Section 4. Form of TIF Note; Terms and Delivery of Note.
4.01 The TIF Note shall be in substantially the form attached hereto as Exhibit A
B, with the blanks to be properly filled in and the principal and interest rate amounts adjusted as
of the date of issue.
4.02. Denomination, Payment. The TIF Note shall be issued as a single typewritten note
numbered R-1. The TIF Note shall be issuable only in fully registered form. Principal of and
interest on the TIF Note shall be payable by check or draft issued by the Registrar described herein.
4.03.. Dates; Interest Payment Dates. Principal of and interest on the TIF Note shall be
payable by mail to the owner of record thereof as of the close of business on the fifteenth day of
the month preceding the Payment Date, whether or not such day is a business day.
4.04. Registration. The Authority hereby appoints the City Finance Director to perform
the functions of registrar, transfer agent and paying agent (the "Registrar"). The effect of
F-3
MN190\163\801191.v3
registration and the rights and duties of the Authority and the Registrar with respect thereto shall
be as follows:
a) Register. The Registrar shall keep at its office a bond register in which the Registrar
shall provide for the registration of ownership of the TIF Note and the registration of transfers and
exchanges of the TIF Note.
b) Transfer of TIF Note. Upon surrender for transfer of the TIF Note duly endorsed
by the registered owner thereof or accompanied by a written instrument of transfer, in form
reasonably satisfactory to the Registrar, duly executed by the registered owner thereof or by an
attorney duly authorized by the registered owner in writing, and consent to such transfer by the
Authority if required pursuant to the Agreement, the Registrar shall authenticate and deliver, in
the name of the designated transferee or transferees, a new TIF Note of a like aggregate principal
amount and maturity, as requested by the transferor. The Registrar may close the books for
registration of any transfer after the fifteenth day of the month preceding each Payment Date and
until such Payment Date.
c) Cancellation. The TIF Note surrendered upon any transfer shall be promptly
cancelled by the Registrar and thereafter disposed of as directed by the Authority.
d) Improper or Unauthorized Transfer. When the TIF Note is presented to the
Registrar for transfer, the Registrar may refuse to transfer the same until it is reasonably satisfied
that the endorsement on such TIF Note or separate instrument of transfer is legally authorized.
The Registrar shall incur no liability for its refusal, in good faith, to snake transfers which it, in its
judgment, deems improper or unauthorized.
e) Persons Deemed Owners. The Authority and the Registrar may treat the person in
whose name the TIF Note is at any time registered in the bond register as the absolute owner of
the TIF Note, whether the TIF Note shall be overdue or not, for the purpose of receiving payment
of, or on account of, the principal of and interest on such TIF Note and for all other purposes, and
all such payments so made to any such registered owner or upon the owner's order shall be valid
and effectual to satisfy and discharge the liability of the Authority upon such TIF Note to the extent
of the sum or sums so paid.
f) Taxes, Fees and Charges. For every transfer or exchange of the TIF Note, the
Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for
any tax, fee, or other governmental charge required to be paid with respect to such transfer or
exchange.
g) Mutilated, Lost, Stolen or Destroyed TIF Note. In case any TIF Note shall become
mutilated or be lost, stolen, or destroyed, the Registrar shall deliver a new TIF Note of like amount,
Termination Dates and tenor in exchange and substitution for and upon cancellation of such
mutilated TIF Note or in lieu of and in substitution for such TIF Note lost, stolen, or destroyed,
upon the payment of the reasonable expenses and charges of the Registrar in connection therewith;
and, in the case the TIF Note lost, stolen, or destroyed, upon filing with the Registrar of evidence
satisfactory to it that such TIF Note was lost, stolen, or destroyed, and of the ownership thereof,
F-4
MN 190\163\801191.v3
and upon furnishing to the Registrar of an appropriate bond or indemnity in form, substance, and
amount satisfactory to it, in which both the Authority and the Registrar shall be named as obligees.
The TIF Note so surrendered to the Registrar shall be cancelled by it and evidence of such
cancellation shall be given to the Authority. If the mutilated, lost, stolen, or destroyed TIF Note
has already matured or been called for redemption in accordance with its terms, it shall not be
necessary to issue a new TIF Note prior to payment.
4.05. Preparation and Delivery. The TIF Note shall be prepared under the direction of
the Executive Director and shall be executed on behalf of the Authority by the signatures of its
President and Executive Director. In case any officer whose signature shall appear on the TIF
Note shall cease to be such officer before the delivery of the TIF Note, such signature shall
nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in
office until delivery. When the TIF Note has been so executed, it shall be delivered by the
Executive Director to the owner thereof in accordance with the Agreement.
Section 5. Security Provisions.
5.01. Pledge. The Authority hereby pledges to the payment of the principal of and
interest on the TIF Note all TIF Note Available Tax Increment as defined in the TIF Note. TIF
Note Available Tax Increment shall be applied to payment of the principal of and interest on the
TIF Note in accordance with the terms of the fonn of TIF Note set forth in Section 2 of this
resolution.
Section 6. Certification of Proceedings.
6.01. Certification of Proceedings. The officers of the Authority are hereby authorized
and directed to prepare and furnish to the owner of the TIF Note certified copies of all proceedings
and records of the Authority, and such other affidavits, certificates, and information as may be
required to show the facts relating to the legality and marketability of the TIF Note as the same
appear from the books and records under their custody and control or as otherwise known to them,
and all such certified copies, certificates, and affidavits, including any heretofore furnished, shall
be deemed representations of the Authority as to the facts recited therein.
Section 7. Effective Date. This resolution shall be effective upon approval
Approved by the Board of Commissioners of the City of Monticello Economic Development
Authority on July 27, 2022.
15-r-es/1den(__Z
ATTEST:
F-5
MN190\163\801191.v3
EDA Agenda: 12/10/2025
5C. Consideration of Drafts of Statewide Affordable Housing Aid (SAHA) Policy relating to
Proposed Senior Homeowner Rehabilitation Program
Prepared by:
Economic Development Manager,
Community Economic Development
Coordinator
Meeting Date:
☒ Regular Agenda Item
☐ Consent Agenda Item
Reviewed by:
Community Development Director,
Finance Director
Approved by:
City Administrator
ACTION REQUESTED
For review purposes only. Action to be determined by the EDA. City Staff’s intent is to make
the EDA aware of the Draft Policy and bring it back to the EDA at a meeting in January or
possibly February 2026 for discussion and review. Listed below are questions for consideration
before the January 2026 meeting.
1. Is the EDA interested in using all its SAHA funding for this purpose ($150,000 +/- at this
time; expecting this amount to increase by $25,000 +/-; by the end of 2026)? Please
reconfirm direction.
2. Does the EDA have a geographic target area?
3. Is the EDA interested in opening the program to all age categories in the affordability
requirement range with the intent of improving and maintaining housing stock and
providing options to other buyers/owners?
REFERENCE AND BACKGROUND
During the October 8, 2025, EDA Workshop, the SAHA funding (through the Trust Fund) and
eligible activities were reviewed. The EDA had a robust discussion and indicated a preference
to develop a senior 55+ homeowner rehabilitation program. Direction was provided to staff to
move forward in creating a policy and program helping Senior homeowners through a
forgivable housing rehabilitation loan program. Staff then participated in a Minnesota Housing
sponsored East and Central Regional Conference on November 19, 2025, wherein discussion
topics included guidance on policy creation, as well as sharing of model funding formats by peer
communities. This information was used to create the proposed Draft Policy which is attached
to this report.
Staff are asking the EDA members to review the proposed Policy with the goal of having more
discussion about it in January or February 2026.
EDA Agenda: 12/10/2025
I. Budget Impact
No budget impact at this time.
II. Staff Workload Impact:
City staff involved in this consideration include the Community Development Director,
Community Economic Development Coordinator, and Economic Development Manager.
Additional review also involved the EDA Attorney and City Attorney related to compliance with
applicable State Statutes. At this point in time, no other staff are required to complete the tasks
involved in this effort.
III. Comprehensive Plan Impact:
The Monticello 2040 Vision + Plan identifies Neighborhood Preservation in Chapter 7,
Community Character, Design, and the Arts. “Monticello’s traditional neighborhoods north of
Interstate 94 represent the community’s most walkable places, its most diverse housing stock,
and its most character-rich area, contributing to Monticello’s sense of place and identity. These
neighborhood blocks also represent substantial past investment in streets, sidewalks, parks,
and other infrastructure. Maintaining and enhancing these areas and their housing stock can
help increase value and strengthen the visual realm, making Monticello’s traditional
neighborhoods an attractive and desirable place to live. To achieve this, Monticello should
explore financing incentives, which facilitate neighborhood reinvestment in traditional homes
and neighborhoods, balancing design standards and goals with these incentives.”
STAFF RECOMMENDATION:
No recommendation offered by staff. It is the EDA discretions as to next steps or directions to
staff regarding the Statewide Affordable Housing Aid (SAHA) Policy. Again, staff’s intent is to
bring this item back for review and discussion at a regular meeting in January or February 2026.
SUPPORTING DATA
A. Draft Senior 55+ Homeowner Rehabilitation Loan Program Policy
1 | Page
City Policy and
Procedure
SECTION: FINANCE NO: FIN-
REFERENCE: Date:
Next Review Date:
TITLE: Pilot Monticello Housing Rehabilitation Program
1.0 Purpose
The City of Monticello Economic Development Authority (the “EDA”), acting as the Housing &
Redevelopment Authority (the “HRA”), recognizes the need to encourage investment in housing stock
and supply. The purpose of this housing rehabilitation program is to support functional and visually
appealing neighborhoods in the Monticello community by providing grants for rehabilitation projects
in our single-family housing stock.
2.0 Policy
OVERVIEW OF PROGRAM
DUTIES OF THE HRA
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;
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;
FUNDING SOURCE
The State of Minnesota enacted legislation in 2023 to provide additional resources for affordable housing
in the state. The legislation included additional funding for municipalities to explore housing programs
that best fit the needs of the community. The EDA has selected an owner-occupied homeowner
rehabilitation program for the use of the funds.
ELIGIBLE RESIDENTS
Owner-occupied homes within the City of Monticello are eligible for the housing rehabilitation grant
program (“Grant”) as further defined herein.
The EDA has allocated a maximum of $200,000 for the initial Grant program. This is a pilot program, and
additional areas and allocations will be considered at a future date. Income-eligibility requirements are
subject to the Federal Housing & Urban Development Income Limits for 115% Area Median Income (AMI),
MN-WI, HUD Metro FMR Area, and age restrictions for Seniors 55+.
GRANT TERMS & CONDITIONS
Grant Amount & Structure
Individual grants may be made in an amount ranging from $5,000-$25,000. If the benefitting residence is
sold within two years of the grant, the grant must be repaid. The applicant must provide at least 5% of
2 | Page
the project cost in cash.
Eligibility Requirements
Homeowners should discuss the grant program to determine responsibilities and commitment for the
application and its components. The property owner must be a cosignatory on the application and grant
agreement.
1. Each home shall be owner-occupied.
2. The property owner must carry current property insurance both at the time of application and
through completion of approved grant improvements.
3. Property taxes on the subject site must be current for the duration of the grant agreement.
4. Applicants are not eligible to receive funding if the property to be rehabilitated is in default under
a property mortgage, contract for deed, or comparable obligation. An applicant/property owner
is ineligible to receive assistance if currently involved in bankruptcy proceedings.
5. Applicants may apply for only one grant per residence.
6. Exterior materials should be low-maintenance.
7. Adjoining properties must not be disturbed during the construction process.
The EDA reserves the right to approve or reject applications on a case-by-case basis, taking into
consideration factors considered appropriate by the EDA, in addition to established polices, criteria, and
potential benefits. Meeting the criteria does not guarantee an application will be approved. Approval or
denial of an application is at the sole discretion of the EDA.
Concurrent Grants
The concurrent use of different homeowner grant or grant programs by any one borrower or for any one
project is permitted.
Permitted Grant Uses
Renovation eligible projects are shown in “Exhibit A”, including, but not limited to, roofing, siding,
mechanical, and HVAC repairs.
The applicant will work with a contractor to define the final selected improvements using the architectural
rendering as a guide. Sworn construction statements with final selected improvements must be reviewed
and approved by the EDA and will be included in the final Grant documentation. The improvements must
be completed in substantial conformity with the bid statement.
The cost of the building permit for the approved Grant project will be included in the final Grant amount.
CONSTRUCTION AND IMPROVEMENTS CODE COMPLIANCE
As applicable, buildings for which public funds will be used within this program are to be brought into
conformity with city ordinances and state building codes in effect for the area in which the building is
located. Consultation with the City of Monticello Building Safety Department will occur for each potential
project.
TIMING OF PROJECT EXPENSES
No project may commence until the EDA has approved the Grant application and the Grant agreement.
Any costs incurred prior to execution of the Grant agreement are not eligible expenditures.
3 | Page
No building construction may commence until the required city permits are secured.
Grant disbursements shall be as provided for within the grant agreement and shall be made directly to
the Applicant/owner’s contractor. The grant agreement shall reference final contracts for improvements.
COMMUNICATION
The success of the project depends on the completeness of applications and good communication
between all parties. Applicants should feel free to reach out to city staff with any questions at any time.
Contact Tyler Bevier, Community & Economic Development Coordinator, with any questions
Tyler.Bevier@MonticelloMN.gov | 763-271-3206
APPLICATION PROCEDURE
The applicant shall meet with city staff to obtain information about the Grant program, discuss the project,
and obtain application forms.
Applications will be received and reviewed on a first-come, first-served basis from the time of submission
of a complete application.
An inspection of the building may be required.
The EDA is a governmental entity and, as such, must provide public access to the public data it receives.
Data deemed by Applicant to be nonpublic data under State law should be so designated or marked by
Applicant. See Minnesota Statutes, Section 13.591, Subd. 1 and 2. The formal Grant application will be
reviewed by EDA staff to determine if it conforms to all city policies and ordinances, and will be presented
to the EDA for formal approval, as follows:
1. Staff will complete a preliminary application review and may consult with the EDA’s Financial
Advisor and/or EDA Attorney and Department of Building Safety in preparing a report for EDA
consideration.
a. Staff will evaluate the project application in terms of the following:
b. Evidence of the applicant’s ability to meet the 5% cash requirements.
c. Evidence of need for the homeowner’s proposed project
d. Age & Income verification
2. Minimum of two quotes, detailed and itemized for each requested improvement approved by
Exhibit A.
3. The EDA Commissioners will approve or deny the application, or request a resubmission with
clarifications, at the EDA’s sole discretion.
APPROVAL OR DENIAL OF GRANT APPLICATION
The EDA, at its sole discretion, may deny any application on a case-by-case basis, taking into consideration
factors such as the above criteria.
GRANT POLICY REVIEW
The above criteria will be reviewed on an annual basis to ensure that the policies reflected in this
document are consistent with the economic development goals set forth by the city.
COMPLIANCE WITH BUSINESS SUBSIDY LAW
4 | Page
All developers/businesses receiving financial assistance from the City of Monticello EDA shall be subject
to the City’s Business Subsidy Policy as amended, and the provisions and requirements set forth under
Minnesota Statutes, Sections 116J.993 to 116J.995.
GRANT AGREEMENT
If the application for a Grant is approved, the applicant/property owner will be required to enter into a
grant agreement to proceed. The grant agreement will specify the terms and conditions of the grant as
identified herein.
DISBURSEMENT OF GRANT FUNDS
Upon approval of a Grant application, applicants are required to provide executed contracts with
qualified, licensed contractors for work per the approved Grant plans. Contracts shall be consistent with
the procedures and requirements herein.
Grant funds will be disbursed to the contractor based on completion of work as outlined below. The City’s
Chief Building Official will verify completion of work. Upon verification of completion, payment will be
dispersed per contract amount for the work completed based on the submitted invoice.
PROJECT CONTRACTOR PROCEDURES AND REQUIREMENTS
A. PARTICIPATING CONTRACTORS: All contractors participating in the housing rehabilitation
program must have a contractor’s license on file with the Minnesota Department of Labor and Industry.
The contractors will be responsible for securing insurance of the amounts specified on the application
form. The application must contain proof of insurance coverage via a Certification of Insurance Coverage,
and the contractor's registration and license number and bond.
B. BID/QUOTE SOLICITATION: To participate in the homeowner rehabilitation program, the
applicant must solicit bids or quotes from at least two vendors. An applicant is free to choose any
contractor, provided the license requirements are met and the cost differential in the quotes received
does not exceed 20%. All quotes must be valid for greater than 90 days and specified in the quotes and
bids.
C. CONTRACTOR CONTRACT: The contract for work is between the property owner (applicant) and
the contractor. Each selected contractor will enter into a contract with the property owner. The contract
will outline the terms for completion of the rehabilitation on the project and will include the following:
1. Scope of Work
2. Project Start Date;
3. Project Completion Date;
4. General Conditions;
5. Special Conditions;
6. Project Warranties;
7. Change Order Procedures;
8. Sworn Construction Statement;
9. Required Inspections Prior to Payment;
10. Consistency with Program Policy;
11. Payment Terms;
12. Termination Procedures.
5 | Page
D. FAILURE TO START/COMPLETE PROJECT: Upon approval of the Grant agreement, the applicant
and selected contractor will have 180 calendar days in which to complete the contracted work. The 180-
day time period shall not be exceeded except through the issuance of a change order. Failure to complete
any work within 180 days will be grounds to terminate the Grant agreement.
E. PAYMENT PROCEDURES: All contractors will agree to the payment schedule, which is as follows:
1. Pre-payments for contracted services may be disbursed from an escrow account
established with the EDA’s specified agency. Such escrow account shall be administered
per the grant agreement.
2. Lien waivers are required for all contractors and subcontractors before payment is made.
3. Final payment for work completed, including any retainage amounts, will be made after
work by a contractor is completed with verified receipts and costs incurred, the final
inspection has been conducted and the Chief Building Official, property owner, and
contractor have signed off on the work.
F. CHANGE ORDERS: Change orders to the approved grant project require the approval of the EDA.
Change orders will be allowed only for the following reasons:
1. To rectify hidden deficiencies that are discovered once the work has begun.
2. To change a specification due to unforeseen difficulties arising after work has begun.
3. To address a deficiency that was inadvertently dropped from the project during project
packaging.
4. To change completion dates.
PROJECT COMPLETION
The City’s Chief Building Official will complete a final project inspection and issue a Certificate of
Completion verifying project completion per the approved Grant plans.
3.0 Scope
This policy applies to all projects that apply for and may receive assistance under the Homeowner Rehab
Program.
4.0
HISTORY
Approval Date: XX, 2026 Approved by: EDA
6 | Page
EXHIBIT A
Permitted Fund Uses
Eligible Improvement:
Improve the basic livability or energy efficiency of the property, including additions, alterations,
renovations, and/or repairs, or bring a property into compliance with state, county, municipal health,
housing, building, fire, and/or housing maintenance codes or other public standards applicable to
housing. Items not listed as eligible or ineligible will be at the sole discretion of the EDA for grant
consideration.
Projects Eligible Improvements Examples of Ineligible
Improvements
Electrical
Improvements
Update wiring, Electric light fixtures/systems Speakers, Built-in
surround system
Energy Conservation
& Insulation
Insulation, weather stripping, ventilation, attic
fans, ceiling fans, roof/turbine vents, windows
Exterior Finishing Brick repair/replacement, painting, stucco repair,
siding, and repairs to a detached garage
Handicap Accessibility
Improvements
Improvements or modifications to a property to enable a
resident, with an activity-limiting permanent physical or
mental condition, to function in the property, including
Bathroom modifications, kitchen modifications
(including lowering cupboards and countertops), Ramp
or entryway improvements, relocating light switches and
electrical outlets, and widening doorways and hallways,
and stair lifts.
Heating & Ventilation
Improvements
Air exchanger, central air conditioning, chimney
repair or replacement, ductwork, furnace, mini-split
and retrofit of existing heat pumps
Room air conditioning
units, space heaters,
appliances, and
personal property not
hardwired or hard-
plumbed (washer,
dryer, refrigerator,
stove)
Plumbing
Improvements
Bathroom fixtures/connections, bathtubs/shower
doors, water conditioner, water heater
Hot tub or whirlpool
outside of the
bathroom
Roofing
Improvements
Fasia, gutters, home/garage roof replacement,
soffit, roofing for detached garage
Structural Additions
and Alterations
Chimney repair or replacement, entryway,
including attached patio, foundation repair
(includes lifting of house), street-facing elements,
including; patio slab at patio door, porch,steps, and
landings
Gazebo, outbuildings,
utility/garden shed,
garage larger than 800
square feet
Other energy audit, blower door test, garage door repair Underground
sprinkler system,
irrigation system,
tennis court,
swimming pool,
security system,
assessments
7 | Page
EXHIBIT B
Program Checklist
Applicant (You) Requirement City Review
Submit a letter of interest to the City of
Monticello via in-person at City Hall, 505 Walnut
Street, Suite 1, or mailed letter of interest
Schedule a Pre-Grant Meeting with City Staff :
Contact Tyler Bevier,
Tyler.Bevier@MonticelloMN.gov
The above steps must be completed before proceeding with the application
Income & Age Verification
Verification of Income for income qualification.
Income-eligibility requirements are subject to the
Federal Housing & Urban Development Income
Limits for 115% Area Median Income of the
Minneapolis-St. Paul-Bloomington, MN-WI, HUD
Metro FMR Area.
Verification of Age to be eligible for the program
Project Budget
What improvements are you seeking for your
home? Example table as “Exhibit C”
Project Quotes
Two quotes for each improvement requested
City-Only Delinquency
Verification of the property is not in delinquency
of taxes or blight.
Insurance
Verification of property insurance, both at the
time of application and through completion of
approved grant improvements.
5% Match
Applicant verifies that they will be able to meet
the 5% match requirement
EXHIBIT C
Example Project Budget
Proposed
Improvement
Quote #1 Quote #1
Business Name,
Contact Phone/Email
Quote #2 Quote #2
Business Name,
Contact Phone/Email
8 | Page
EDA Agenda: 12/10/2025
6A. Economic Development Manager’s Report
Prepared by:
Economic Development Manager
Meeting Date:
12/10/2025
☒ Other Business
Reviewed by:
N/A
Approved by:
N/A
REFERENCE AND BACKGROUND
1. Wright and Sherburne County Enterprise Academy: Held at the MCC (12 sessions: Sept 11
– December 4, 2025) – The Enterprise Academy cohort had a graduation ceremony on
Thursday, December 4, 2025. Please see photo - Exhibits A.
2. Business Retention & Expansion Efforts:
The Industrial and Economic Development Committee (IEDC) and the EDA have completed
10 BR&E visits to date. Staff are exploring scheduling one more visit yet in 2025. 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.
3. EDA Member Terms: No EDA Member terms expire at the end of 2025: See attached listing
of Commissioner terms – Exhibit B.
4. Block 36 Parking Lot Easement Budget Adjustment for CY 2026: Exhibit C - More
information to be provided later.
5. Planning Commission Agendas – December 2, 2025
Please see attached Exhibit D.
6. Prospect List – December 5, 2025:
Please see attached Exhibit E.
Accou n t J an F eb Mar Apr May J u n J u l Au g Sep O ct N ov D e c F Y 20 25
I n c o m eIncome
Common Ar e a Main te n an ce 3 84 .58 3 84 .58 3 84 .58 3 84 .58 3 84 .58 3 84 .58 3 84 .58 3 84 .58 3 84 .58 3 84 .58 3 84 .58 3 84 .58 $4,615.0 0
T o t a l f o r I n c o m eTotal f o r I n c o m e 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 $4 ,61 5 .0 0$4 ,6 1 5.0 0
E x p e n s e sExpenses
520 3 Man ageme n t F e e s 80 .0 0 80 .0 0 80 .0 0 80 .0 0 80 .0 0 80 .0 0 80 .0 0 80 .0 0 80 .0 0 80 .0 0 80 .0 0 80 .0 0 $960 .0 0
570 0 G rou n ds Main ten an ce Non Con tract 20 .83 20 .83 20 .83 20 .83 20 .83 20 .83 20 .83 20 .83 20 .83 20 .83 20 .83 20 .83 $250 .0 0
570 2 Lawn Car e or Sn ow R e mov al Con tr act 10 9.71 10 9.71 10 9.71 10 9.71 10 9.71 10 9.71 10 9.71 10 9.71 10 9.71 10 9.71 10 9.71 10 9.71 $1,3 16.56
74 0 2 Ele ctr ic 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 1 74.0 4 $2,0 88.4 4
T o t a l f o r E x p e n s e sTotal f o r E x p e n s e s 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 3 8 4 .5 8384.58 $4 ,61 5 .0 0$4 ,6 1 5.0 0
N e t O p e r a tin g I n c o m eNet O p e r a ti n g I n c o m e 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 $0 .0 0$0 .0 0
N o n -o p e r a t i n g I n c o m eNon-o p e r a tin g I n c o m e
T o t a l f o r N o n -o p e r a t i n g I n c o m eTotal f o r N o n -o p e r a tin g I n c o m e 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 $0 .0 0$0 .0 0
N o n -o p e r a t i n g E x p e n s e sNon-o p e r a tin g E x p e n s e s
T o t a l f o r N o n -o p e r a t i n g E x p e n s e sTotal f o r N o n -o p e r a tin g E x p e n s e s 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 $0 .0 0$0 .0 0
N e t N o n -o p e r a t i n g I n c o m eNet N o n -o p e r a tin g I n c o m e 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 $0 .0 0$0 .0 0
N e t I n c o m eNet I n c o m e 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 0 .0 00.0 0 $0 .0 0$0 .0 0
20 26 Bro adw ay Parking Easement |
B ro ad w ay Parking Easem en t - CO MMERCIAL
| FY2 02 5
As of 12/2/2025
Bullseye Prop erty Man agemen t & Real ty
35 Lake Street S, Suite 500
Bi g Lake, MN 55309
(763) 295-6566
Gen erated 12/02/2025 11:54:26 Page 1 of 1
AGENDA
REGULAR MEETING – PLANNING COMMISSION
TUESDAY, DECEMBER 2, 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
• Regular Meeting – November 3, 2025
• Workshop – November 3, 2025
• Joint City Council & Planning Commission Workshop – November 3, 2025
To be approved by the City Council
F. Citizen Comment
2. Public Hearings
A. Consideration of an Amendment to the Monticello City Code, Title XV, Land
Usage, Chapter 153: Zoning Ordinance, Sections 153.012 Definitions, 153.045
Industrial Base Zoning Districts, 153.046 Overlay Zoning Districts, 153.090 Use
Table, 153.091 Use-Specific Standards, 153.092 Accessory Use Standards and any
other related sections of text necessary to define and regulate data center and
technology campus land uses within the City
Applicant: City of Monticello
B. Consideration of a request for an amendment to the Monticello Zoning
Ordinance, Section 153.048, Pointes at Cedar District to allow Public
JOINT CITY COUNCIL & PLANNING COMMISSION WORKSHOP
Monticello Community Center
5:00 p.m. Concept Stage Submittal for a 3.49-acre, 96-unit residential development
within the B-4: Regional Business district
Planning Commission Regular Meeting Agenda – 12/02/2025
2
Warehousing as an Interim Use Permit, and to establish required use standards,
and consideration of an Interim Use Permit for Public Warehousing, Temporary
in the Pointes at Cedar (PCD) District
Applicant: City of Monticello
3. Regular Agenda
A. Consideration of a recommendation of reappointment of Melissa Robeck to the
Planning Commission.
4. Other Business
A. Community Development Director’s Report
5. Adjournment
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 Paused
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
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 7,000 sq. ft. +/-0 25 $2,300,000 Identified
Site
5/30/2024 Project EP-BDDC
LACW
Data Center - Hyper Scale New Construction 2,150,000 sq. ft. +/-0 190 $3,000,000,000 Identified
Site
7/30/2024 Project EPG 40x2-50 Industrial New Construction 40,000 sq. ft. 0 40 $4,000,000 Active
Search
9/2/2024 Project Scannell
Data Ctr
Data Center Enterprise New Construction 1,200,000 sq. ft. +/-0 135 $2,000,000,000 Identified
Site
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
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
9/4/2025 Project Starfish Industrial New Construction 70,000 sq. ft. to 92,000
sq. ft.
$8,500,000 Active
Search
9/26/2025 Project EX Lobster Industrial New Construction 20,000 to 22,000 sq. ft.??$5,800,000 Active
Search
10/24/2025 Project 2834-120-2kj Industrial New Construction 1,265,000 sq. ft.1,350 $1,900,000,000 Active
Search
11/13/2025 Project Firefly Industrial New Construction 30,000 to 35,000 sq. ft.?15 $5,800,000 Site
Identified
11/24/2025 Project MT 20K Industrial New Construction 18,000 to 20,000 sq. ft.0 15 $2,700,000 Active
Search
11/24/2025 Project ET 12K Industrial New Construction 11,000 to 12,000 sq. ft.0 11 $1,600,000 Active
Search
Contacts: M
= 03 YTD =
25
PROSPECT LIST 12/05/2025