EDA Minutes 10-12-2011MINUTES
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, October 12, 2011- 6:00 p.m.
Commissioners Present: President Bill Demeules, Treasurer Bill Tapper, Tracy Hinz, Matt Erie,
Bruce Hamond, and Council Members Tom Perrault and Brian Stumpf
Staff. Executive Director Megan Barnett - Livgard, Finance Director Tom Kelly
1. Call to Order
Bill Demeules called the meeting to order at 6 p.m.
2. Approve Meeting Minutes
a) September 7, 2011 Special EDA Minutes
TOM PERRAULT MOVED TO APPROVE THE SEPTEMBER 7, 2011 EDA
MINUTES AS CORRECTED. MOTION WAS SECONDED BY BILL TAPPER.
MOTION CARRIED 7 -0.
b) September 14, 2011 EDA Minutes
BRIAN STUMPF MOVED TO APPROVE THE SEPTEMBER 14, 2011 EDA
MINUTES. MOTION WAS SECONDED BY BILL TAPPER. MOTION CARRIED
7 -0.
3. Consideration of additional agenda items
a) Approve a proposal by Architectural Consortium for rendering for the Embracing
Downtown project
4. Approval of EDA Invoices
Matt Frio again questioned the need to have spent $400 for an appraisal of the Landmark II
property.
BILL TAPPER MOVED TO APPROVE THE INVOICES. MOTION WAS SECONDED
BY TRACY HINZ. MOTION CARRIED 7 -0.
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5. Consideration of Adopting a Resolution Authorizin¢ a Tax Increment Pledge
Agreement Relating to the Sale of G. O. Refunding Bonds, Series 2011A
City Council sold General Obligation Refunding Bonds, Series 2011A to refund the City's
G.O. Bonds, Series 2005A. The advance refunding allowed the City to take advantage of
low interest rates and resulted in an estimated savings of $667,070.over the remaining 11
years of debt payments. The 2005A bond was funded in part from pledged tax increments
from District 1 -34 Monticello Interchange. As a result of this refunding, the original
pledge agreement is voided and a new pledge agreement is needed to fiord the 2011 A G. O.
Refunding Bonds. Finance Director Tom Kelly responded to some questions about the tax
increment and pointed out that this action is mainly a housekeeping item for the EDA.
BILL TAPPER MOVED TO ADOPT THE RESOLUTION AUTHORIZING
EXECUTION OF A TAX INCREMENT PLEDGE AGREEMENT WITH THE CITY OF
MONTICELLO RELATING TO THE $10,735,000 G. O. REFUNDING BONDS,
SERIES 2011A. MOTION WAS SECONDED BY MATT FRIE. MOTION CARRIED
7 -0.
6. Consideration of authorizing a $2,000 City Platinum Sponsorship for the NAIFC
qualifying ice fishing tournament to be held on Pelican Lake in Monticello in 2012
Staff recommended that the City again become a Platinum Sponsor for the NAIFC
Qualifying Ice Fishing Tournament to be held in January of 2012 on Pelican Lake in
Monticello. This tournament will once again bring national exposure to Monticello and
provide additional revenue for many businesses in the City. The January 2011 event was a
huge success and brought in over 600 people who utilized local shops, restaurants, and
hotels throughout the tournament weekend. The mission of the EDA encompasses
encouraging a strong and sustainable business climate in the City. Supporting an event that
has the potential to drive additional revenue to many businesses in Monticello is one way to
stimulate the local business economy. No other local entities are currently sponsoring this
event.
BRIAN STUMPF MOVED TO APPROVE A $2,000 PLATINUM SPONSORSHIP FOR
THE NAIFC ICE FISHING TOURNAMENT TO BE EXPENDED FROM THE 2012
MARKETING BUDGET. MOTION WAS SECONDED BY BRUCE HAMOND.
MOTION CARRIED 6 -1 WITH TOM PERRAULT OPPOSED.
Director Report
The EDA was invited to attend the Industry of the Year breakfast on October 19t" at 7:30
a.m. and the Embracing Downtown Monticello Open House at 5:30 p.m. on October 24th.
Both events are to be held at the Community Center.
EDA Minutes 10/12/11
8. Consideration of additional agenda item
a) Approve a proposal by Architectural Consortium for rendering for the Embracing
Downtown project
Staff pointed out the importance of successfully marketing the Embracing Downtown
Monticello plan at the October 24tt' public open house. Although the McCombs Group
had prepared a concept plan which outlined the project design, staff suggested that
elevation renderings would enable stakeholders, developers, and community members
to more readily visualize how the design would look upon implementation.
Staff obtained a quote from Cathy Anderson of Architectural Consortium for the
provision of two elevation renderings of the plan at a cost of $4,000 plus reimbursable
expenses. Elevations of the Broadway corridor and the Walnut corridor would provide
a visual example of how the plan would look when incorporating the City's design
guidelines and integrating existing buildings with new buildings proposed.
Matt Frie expressed concern at spending additional funds for a project that City
Council may not support. Megan Barnett - Livgard pointed out that this expense will
significantly impact how the plan is perceived and understood. Funds are available in
the EDA marketing budget.
There were some questions about the proposed renderings. Staff pointed out that the
emphasis on water features and plazas in the renderings would create project synergy
and help to anchor the streetscape.
BRUCE HAMOND MOVED TO AUTHORIZE FUNDS IN AN AMOUNT NOT TO
EXCEED $10,000 FOR A PROPOSAL BY ARCHITECTURAL CONSORTIUM
FOR RENDERINGS FOR THE EMBRACING DOWNTOWN PROJECT. MOTION
FAILED DUE TO THE LACK OF A SECOND.
BRIAN STUMPF MOVED TO TABLE THE PROPOSAL UNTIL
REIMBURSABLE EXPENSES WERE FURTHER CLARIFIED.
Staff indicated that reimbursable expenses would likely to amount to a couple of
hundred dollars and pointed out that it is important that a decision be made on this issue
at this time so that architectural renderings would be available to display at the October
24th Embracing Downtown Open House.
BRIAN STUMPF RESCINDED THE MOTION TO TABLE THE PROPOSAL.
BILL TAPPER MOVED TO AUTHORIZE FUNDS IN AN AMOUNT NOT TO
EDA Minutes 10/12/11
EXCEED $5,000 FOR A PROPOSAL BY ARCHITECTURAL CONSORTIUM FOR
RENDERINGS FOR THE EMBRACING DOWNTOWN PROJECT. MOTION
WAS SECONDED BY BILL DEMEULES. MOTION CARRIED 5 -2 WITH BRIAN
STUMPF AND TOM PERRAULT OPPOSED.
9. Adjournment
BILL TAPPER MOVED TO ADJOURN THE MEETING AT 6:29 PM. MOTION WAS
SECONDED BY MATT FRIE. MOTION CARRIED 7 -0.
The EDA proceeded to the workshop with the Monticello Downtown Business Association
(MDBA) to discuss the Embracing Downtown Study from 6:30- 7:30pm.
Recorder: Kerry T. Burri
Approved: Novel ber 9, 1 I
Attest: md� a wo�t�
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