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EDA Agenda 02-10-2016AGENDA REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, February 10t1, 2016 — 6:00 p.m. Mississippi Room, Monticello Community Center Commissioners: President Bill Demeules, Vice President Bill Tapper, Treasurer Tracy Hinz, James Davidson, Steve Johnson and Council members Tom Perrault and Lloyd Hilgart Staff: Executive Director Jeff O'Neill, Angela Schumann, Wayne Oberg Guest: John Uphoff — WSB & Assoc. 1. Call to Order 2. Roll Call 3. Approve Meeting Minutes: a. Special Meeting — December 9th, 2015 b. Regular Meeting — December 9th, 2015 c. Special Meeting — January 13th, 2016 d. Regular Meeting — January 13th, 2016 4. Consideration of additional agenda items 5. Consideration of approving payment of bills 6. Annual Meeting Business a. Consideration to elect EDA officers b. Consideration to review EDA Bylaws and Enabling Resolution c. Consideration of 2016 EDA appointments d. Consideration of EDA fund balance information 7. Consideration of Market Matching report 8. Consideration of 2016 Manufacturer's Week publication participation 9. Consideration of Director's Report 10. Adjourn MINUTES SPECIAL MEETING - ECONOMIC DEVELOPMENT AUTHORITY Wednesday, December 911, 2015 4:30 p.m., Monticello Community Center Present: Bill Demeules, Bill Tapper, Tracy Hinz, Jim Davidson, Steve Johnson, Tom Perrault, Lloyd Hilgart Absent: None Staff: Angela Schumann, Jeff O'Neill, Wayne Oberg Guests: Dave Finnegan (KW Commercial), Tom Baker (KW Commercial), Bill Gorton (KW Commercial) 1. Call to Order Bill Demeules called the special meeting to order at 4:30 p.m. 2. Roll Call Bill Demeules called the roll. All commissioners were present. 3. Purpose Angela Schumann indicated that the purpose of the workshop is to refine the 2016 EDA work plan and consider input from Keller Williams Commercial as it relates to redevelopment in Monticello. 4. 2016 EDA Work Plan for 2016 Schumann summarized that the draft work plan included with the agenda packet incorporates revisions based on direction provided at the November EDA workshop. She invited the commissioners to propose and discuss any additional objectives and action statements to be included. She pointed out that the EDA's final 2016 work plan would come before City Council for ratification in January. Schumann noted that the commissioners seemed to be satisfied with the objectives and priorities identified within the workplan. She made a note to include define criteria related to blight as an action step associated with the housing redevelopment objective. Much of the commission's discussion emphasized the importance of improved communication, investing in relationships, providing a coordinated approach to marketing, and exploring programs and tools to spur development. Schumann also pointed to the value of identifying the role of the IEDC as it relates to business retention. EDA Special Meeting Minutes: 12/09/15 5. Presentation — Keller Williams Commercial Keller Williams (KW) Commercial representatives Dave Finigan, Tom Baker and Bill Gorton each provided information related to their specific area of real estate expertise and noted their familiarity with Monticello's market. KW's presentation summarized the challenges all cities face in targeting downtown redevelopment. KW staff pointed out that, although Monticello has unique assets and has established goals to guide economic development, the City needs to commit to subsidizing growth to level the playing field for redevelopment based on the current economic reality. It was noted that firms such as KW Commercial are available to assist in facilitating redevelopment_ 6. Adiourn TOM PERRAULT MOVED TO ADJOURN THE SPECIAL MEETING AT 5:55 PM. BILL TAPPER SECONDED THE MOTION. MOTION CARRIED 7 -0. Recorder: Kerry Burri Approved: Attest: 14 61 Angela Schumann, Community Development Director 2 MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, December 911, 2015 - Mississippi Room, Monticello Community Center Present: Bill Demeules, Bill Tapper, Tracy Hinz, Jim Davidson, Steve Johnson, Tom Perrault, Lloyd Hilgart Absent: None Others: Angela Schumann 1. Call to Order Bill Demeules called the meeting to order at 6 p.m. 2. Roll Call Demeules called the roll. All commissioners were present. 3. Approve Meeting Minutes TRACY HINZ MOVED TO APPROVE THE NOVEMBER 18TH, 2015 SPECIAL MEETING MINUTES. BILL TAPPER SECONDED THE MOTION. MOTION CARRIED 7 -0. BILL TAPPER MOVED TO APPROVE THE NOVEMBER 18TH, 2015 REGULAR MEETING MINUTES. TRACY HINZ SECONDED THE MOTION. MOTION CARRIED 7 -0. 4. Consideration of adding items to the agenda None 5. Consideration of approving pavment of bills STEVE JOHNSON MOVED TO APPROVE PAYMENT OF BILLS THROUGH NOVEMBER 2015 EXCLUDING THE $74 KENNEDY & GRAVEN CHARGE. BILL TAPPER SECONDED THE MOTION. MOTION CARRIED 7 -0. 6. Consideration of Market Matching report The Market Matching report was not provided. 7. Consideration to adopt Resolution EDA- 2015 -012 approving an amendment to the Contract for Private Redevelopment between Masters Stn Avenue and the Monticello EDA as related to TIF 1 -35, and to adopt Resolution EDA- 2015 -013 approving an Interfund Loan Angela Schumann summarized that the EDA is asked to amend the contract for private EDA Minutes: 12/09/15 redevelopment for TIF 1 -35 in response to the developer's request for a 5 year extension of the contract. She explained that the TIF plan would be modified when a development project is ready to move forward within the district. Schumann also asked that the EDA approve an interfund loan resolution which would allow for borrowing against future increment collected in the district to pay up to 10% of administrative expenses associated with the district. Developer Barry Fluth, President of Masters 5th Avenue, Inc., noted that he had recently met with a user looking at possibly doing a project on the site. Fluth indicated that he'd requested the extension because there is a reasonable chance that the site will develop. BILL TAPPER MOVED TO ADOPT RESOLUTION EDA- 2015 -012 APPROVING AN AMENDMENT TO THE CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN MASTERS 5TH AVENUE AND THE MONTICELLO EDA AS RELATED TO TIF 1 -35, AND TO ADOPT RESOLUTION EDA- 2015 -013 APPROVING AN INTERFUND LOAN AS RELATED TO TIF 1 -35. STEVE JOHNSON SECONDED THE MOTION. MOTION CARRIED 7 -0. 8. Consideration to adopt Resolution EDA- 2015 -011 authorizing conveyance of property and approve a Quit Claim deed for the conveyance of property to the Minnesota Department of Transportation for Right of Wav purposes Angela Schumann summarized that the EDA is asked to approve the conveyance of a portion of Lots 14 and 15, Block 34 to MnDOT for right of way purposes to support construction of a right turn lane from northbound TH 25 to eastbound CSAH 75. She pointed out that there is no need for a public hearing or a closing because the property is to be transferred from one public entity to another. Bill Demeules asked about wells on the property. Schumann said that she would ask that the City Water Superintendent and the City Engineer verify the location of wells in relation to the property line. Steve Johnson asked if staff had prorated the value of the property to be conveyed. Schumann stated that the value of the property had not been prorated. She explained that the EDA had purchased the property with the intent that a portion of the property would serve the intersection improvement project. LLOYD HILGART MOVED TO ADOPT RESOLUTION EDA- 2015 -011 AUTHORIZING CONVEYANCE OF PROPERTY AND TO APPROVE A QUIT CLAIM DEED FOR THE CONVEYANCE OF PROPERTY TO THE MINNESOTA DEPARTMENT OF TRANSPORTATION FOR RIGHT OF WAY PURPOSES, CONTINGENT ON MNDOT' S ACCEPTANCE OF THE DEED AND WRIGHT COUNTY'S ACCEPTANCE OF THE SIMPLE SUBDIVISION FOR CONVEYANCE. BILL TAPPER SECONDED THE MOTION. MOTION CARRIED 7 -0. EDA Minutes: 12/09/15 9. Consideration of recommendation re2ardin2 2016 EDA Appointments TRACY HINZ MOVED TO RECOMMEND TO THE CITY COUNCIL THE APPOINTMENT OF BILL TAPPER TO A SIX -YEAR TERM ON THE ECONOMIC DEVELOPMENT AUTHORITY. LLOYD HILGART SECONDED THE MOTION. MOTION CARRIED 7 -0. 10. Consideration of Director's Report Economic Development Manager — Candidate interviews will be scheduled for the first week of January. The EDA and City Council are invited to attend. EDA Budget — The EDA budget and 2016 HRA levy adopted by the EDA will be considered at the upcoming City Council meeting. Fred's Auto — Schumann asked for feedback related to a proposed use for the Fred's Auto property in response to an inquiry from an existing local catering business. The concept requires that the EDA complete site improvements and recover its improvement costs through a long -term lease agreement. Based on the EDA's preliminary interest in exploring the concept, Schumann indicated that she would recommend that the business bring forward a proposal for EDA consideration. NW Interchange Study — The EDA was invited to provide input at upcoming land use concept meetings conducted to inform the NW Interchange Study. 11. Adiourn y BILL TAPPER MOVED TO ADJOURN THE REGULAR EDA MEETING AT 6:24 PM. TRACY HINZ SECONDED THE MOTION. MOTION CARRIED 7 -0. Recorder: Kerry Burri Approved: Attest: Angela Schumann, Community Development Director MINUTES SPECIAL MEETING - ECONOMIC DEVELOPMENT AUTHORITY Wednesday, January 1311, 2016 4:30 p.m., Monticello Community Center Present: Bill Tapper, Tracy Hinz, Jim Davidson, Steve Johnson, Tom Perrault, Lloyd Hilgart Absent: Bill Demeules Others: Angela Schumann, Jeff O'Neill, Tracy Ergen, Brian Stumpf, Charlotte Gabler 1. Call to Order Bill Tapper called the special meeting to order at 4:30 p.m. 2. Roll Call Tapper called the roll. All commissioners were present with the exception of Bill Demeules. 3. Purpose Tapper stated that the purpose of the special meeting is a candidate discussion. 4. Candidate Discussion Participants reviewed and commented on the qualifications of the candidates interviewed for the Economic Development Manager position in an effort to determine next steps in the hiring review process. 5. Adiourn TRACY HINZ MOVED TO ADJOURN THE SPECIAL MEETING AT 5:05 PM. JIM DAVIDSON SECONDED THE MOTION. MOTION CARRIED 6 -0. Recorder: Kerry Burri Approved: Attest: Angela Schumann, Community Development Director MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, January 13th, 2016 - Mississippi Room, Monticello Community Center Present: Bill Tapper, Tracy Hinz, Jim Davidson, Steve Johnson, Tom Perrault, Lloyd Hilgart Absent: Bill Demeules Staff. Angela Schumann Jeff O'Neill 1. Call to Order Bill Tapper called the meeting to order at 6 p.m. 2. Roll Call Tapper called the roll. Bill Demeules was absent. 3. Approve Meeting Minutes TOM PERRAULT MOVED TO TABLE CONSIDERATION OF THE DECEMBER 9TH, 2015 SPECIAL MEETING MINUTES AND THE DECEMBER 9TH, 2016 REGULAR MEETING MINUTES. TRACY HINZ SECONDED THE MOTION. MOTION CARRIED 6 -0. 4. Consideration of adding items to the agenda None 5. Consideration of approving payment of bills TRACY HINZ MOVED TO APPROVE PAYMENT OF BILLS THROUGH DECEMBER 2015. LLOYD HILGART SECONDED THE MOTION. MOTION CARRIED 6 -0. 6. Consideration of Market Matching report Angela Schumann indicated that WSB's Market Matching representative John Uphoff was unavailable to provide a report. Schumann noted that the month by month Market Matching services contract would be in effect until the new Economic Development Manager is hired and has had an opportunity to consider the arrangement. 7. Consideration to adopt 2016 EDA Annual Work Plan Angela Schumann explained that she had incorporated revisions to the proposed 2016 EDA Annual Work Plan based on commissioner input during the workshops. She pointed out that she had inserted the phrase "and revitalization" to the second of the EDA's objectives so that it reads "Engage as a partner in other redevelopment and revitalization opportunities as they arise, actively encouraging redevelopment within the TH25 /CSAH EDA Minutes: 01/13/16 75 area." She also proposed adding two related action strategies. She added item d which states, "Implement a facade improvement program for desired revitalization areas," and item f which states, "Reexamine the Embracing Downtown Plan for possible amendment based on recent revitalization activity in the downtown." Tom Perrault indicated that he has a problem, in particular, with the objective which states, "Support opportunities for park and trail development with TH 25 /CSAH intersection and as consistent with the Embracing Downtown Plan." He doesn't want to overly encourage foot traffic downtown. Perrault also noted concern about funding additional studies. STEVE JOHNSON MOVED TO ADOPT THE 2016 EDA WORK PLAN WITH ANY MODIFICATIONS AS DIRECTED BY THE EDA. LLOYD HILGART SECONDED THE MOTION. MOTION CARRIED 5 -1 WITH TOM PERRAULT VOTING IN OPPOSITION. 8. Consideration to approve a contract for service for a Limited Phase II Environmental Site Assessment (ESA) for EDA -owned property at 130 East Broadway Angela Schumann briefly summarized findings of the Phase I Environmental Site Assessment (ESA) and Limited Site Investigation related to the property located at 130 East Broadway ( "the Zoo ") and noted that historical evidence had identified a coal gasification use on the site. She asked that the EDA consider approving a contract with WSB & Associates for a Limited Phase II ESA to identify the extent to which contamination may exist. Lloyd Hilgart questioned the value of taking action without full site control in the area. Bill Tapper suggested that it would be more economical to look at the old bait shop and the parking lot adjacent to "the Zoo" at the same time. There was some discussion related to possible next steps related to mitigation based on possible findings. Schumann suggested that it may be useful to ask that WSB clarify the level and type of contamination which would require an immediate remediation response. TRACY HINZ MOVED TO TABLE ACTION ON A CONTRACT AGREEMENT FOR A LIMITED PHASE II ESA FOR EDA -OWNED PROPERTY AT 130 EAST BROADWAY; AND DIRECTED STAFF TO CONSULT WITH WSB & ASSOCIATES REGARDING MITIGATION SCENARIOS AND OPTIONS. LLOYD HILGART SECONDED THE MOTION. MOTION CARRIED 6 -0. EDA Minutes: 01/13/16 9. Consideration to authorize a contract agreement for a Limited Asbestos and Regulated Materials Survey and to authorize a Certificate of Survey for 349 West Broadway Schumann asked that the EDA consider a contract with WSB & Associates for Limited Asbestos and Regulated Materials Survey and a Certificate of Survey for the Fred's Auto property at 349 West Broadway to facilitate marketing and sale of the property. There was some discussion related the cost of the certificate of survey. Bill Tapper indicated that he thought it was too soon to take this action. TRACY HINZ MOVED TO AUTHORIZE A CONTRACT AGREEMENT FOR A LIMITED ASBESTOS AND REGULATED MATERIALS SURVEY AND COMPLETION OF A CERTIFICATE OF SURVEY FOR EDA -OWNED PROPERTY AT 349 WEST BROADWAY; SUBJECT TO OBTAINING TWO ADDITIONAL QUOTES FOR THE COST OF THE CERTIFICATE OF SURVEY AND MOVING FORWARD WITH THE LEAST COSTLY QUOTE WITHIN A REASONABLE TIMEFRAME. JIM DAVIDSON SECONDED THE MOTION. MOTION CARRIED 5- WITH BILL TAPPER VOTING IN OPPOSITION. 10. Consideration to approve 2016 Wright Countv Economic Development Partnership annual membership dues Angela Schumann briefly summarized the benefits of continued membership in the Wright County Economic Development Partnership ( WCEDP) and asked that the EDA consider approving the 2016 request for financial support. Schumann noted that hiring an Economic Development Manager position enable the City to better utilize the resources and networking opportunities available through WCEDP membership. LLOYD HILGART MOVED TO APPROVE AUTHORIZING PAYMENT IN THE AMOUNT OF $2,445.90 FOR 2016 MEMBERSHIP DUES TO WRIGHT COUNTY ECONOMIC DEVELOPMENT PARTNERSHIP. TRACY HINZ SECONDED THE MOTION. MOTION CARRIED 6 -0. 11. Consideration of Director's Report Bertram Chain of Lakes (BCOL) Park Update —The Legacy Commission for Parks and Trails recommended that the legislature approve a $2.4 million grant which would complete the passive area of the park in 2016. Staff will submit an Outdoor Recreation grant application to acquire the remaining 41 acres in the active athletic area of the park. Keller Williams — Keller Williams representatives asked to present a detailed scope of services proposal as follow -up to information provided at the January workshop. STEVE JOHNSON MOVED TO APPROVE SCHEDULING A SPECIAL EDA MEETING TO CONSIDER A PROPOSAL FOR A SCOPE OF SERVICES TO BE PRESENTED BY KELLER WILLIAMS AT 4:30 PM ON MARCH 9TH, 2016. TRACY EDA Minutes: 01/13/16 HINZ SECONDED THE MOTION. MOTION CARRIED 6 -0. FiberNet Monticello (FNM) — Jeff O'Neill reported that City Council has been reviewing options for contracting with a telecommunications company to manage and operate FNM in an effort to take it to the next level in terms of growth. 12. Adiourn TRACY HINZ MOVED TO ADJOURN THE REGULAR EDA MEETING AT 6:45 PM. JIM DAVIDSON SECONDED THE MOTION. MOTION CARRIED 6 -0. n Recorder: Kerry Burri Approved: Attest: L I y Angela Schumann, Community Development Director 4 EDA Agenda: 2/10/16 5. Consideration of approving payment of bills (WO) A. REFERENCE AND BACKGROUND: Accounts Payable summary statements listing bills submitted during the previous month are included for review. B. ALTERNATIVE ACTIONS: 1. Motion to approve payment of bills through January 2016. 2. Motion to approve payment of bills through January 2016 with changes as directed by the EDA. C. STAFF RECOMMENDATION: Staff recommends Alternative 91. D. SUPPORTING DATA: Accounts Payable Summary Statements Accounts Payable CITY OF Transactions by Account 0 User: Julie.Cheney Monti effo Printed: 01/20/2016 - 1:29PM Batch: 00206.01.2016 Account Number Vendor Description GL Date Check No Amount PO No 213-46301-431990 WSB & ASSOCIATES INC BLK034 - Environmental Does - Nov 12/31/2015 0 857.50 213-46301-431990 WSB & ASSOCIATES INC Economic Development & Market Ma 12/31/2015 0 2,718.00 213-46301-431990 WSB & ASSOCIATES INC Economic Development & Market Ma 12/31/2015 0 3,100.00 213-46301-431990 WSB & ASSOCIATES INC BLK034 - Environmental Does - Dec 12/31/2015 0 71.25 Vendor Subtotal for Dept:46301 6,746.75 213-46301-431990 WILSON DEVELOPMENT SERVI( Aquisition & Relocation Services - Da 12/31/2015 0 947.77 213-46301-431990 WILSON DEVELOPMENT SERVI( General/Misc Items - Residential Hour 12/31/2015 0 319.53 Vendor Subtotal for Dept:46301 1,267.30 213 - 46301 - 443300 INITIATIVE FOUNDATION 2016 Endowment Contribution 01/26/2016 115280 2,300.00 Vendor Subtotal for Dept:46301 2,300.00 213 - 46301 - 443300 WRIGHT COUNTY ECONOMIC D Member Investor Dues 2016 01/26/2016 115320 2,445.90 Vendor Subtotal for Dept:46301 2,445.90 The preceding list of bills payable was reviewed and approved for payment. Subtotal for Fund: 213 12,759.95 Report Total: 12,759.95 Date: 2/10/2016 Approved by Tracy Hinz - Treasurer AP- Transactions by Account (01/20/2016 - 1:29 PM) Page 1 Accounts Payable Transactions by Account User: Debbie.Davidson Printed: 01/15/2016 - 3:08PM Batch: 00201.01.2016 Account Number Vendor Description Monticello GL Date Check No 213 - 46500 - 443990 US BANK CORPORATE PMT SYS Target - EDS Special Meeting Food 12/31/2015 Vendor Subtotal for Dept:46500 The preceding list of bills payable was reviewed and approved for payment. Date: 02/10/2016 Approved by Tracy Hinz - Treasurer Subtotal for Fund: 213 Report Total: 0 Amount PO No 28.60 28.60 28.60 28.60 AP- Transactions by Account (01/15/2016 - 3:08 PM) Page 1 Accounts Payable Transactions by Account User: Debbie.Davidson Printed: 02/01/2016 - 1:46PM Batch: 00215.01.2016 Account Number Vendor Description Monticello GL Date Check No Amount PO No 213 - 46522 - 438100 XCEL ENERGY ZCULPS -51- 0623082 -8 01/31/2016 0 16.52 Vendor Subtotal for Dept:46522 16.52 The preceding list of bills payable was reviewed and approved for payment. Date: 2/10/2016 Approved by Tracy Hinz - Treasurer Subtotal for Fund: 213 16.52 Report Total: 16.52 AP- Transactions by Account (02/01/2016 - 1:46 PM) Page 1 6a. A. EDA Agenda: 02/10/16 Consideration to Elect Officers (AS) REFERENCE AND BACKGROUND: The EDA makes one -year appointments for the officer positions of President, Vice - President, Secretary and Treasurer at its annual meeting in February, per EDA bylaws. The election of officers is an internal function of the EDA and does not require ratification by the City Council. Currently, the officer positions are held as follows: President: Bill Demeules Vice President: Bill Tapper Secretary: Staff as Executive Director of EDA Treasurer: Tracy Hinz Assistant Treasurer: Steve Johnson See below for reference on current member terms. Economic Development Authority (6 -year staggered terms) ALTERNATIVE ACTIONS: 1 and Bill Tapper 6 yr 12/2021 Tracy Hinz 6 yr 12/2016 Bill Demeules 6 yr 12/2018 Steve Johnson 6 yr 12/2017 Jim Davidson 6 yr 12/2020 Tom Perrault (voting) Council rep Lloyd Hilgart (voting) Council rep Motion to appoint Commissioner as EDA President, as EDA Vice - President, as EDA Treasurer as EDA Assistant Treasurer. C. STAFF RECOMMWNDATION: None D. SUPPORTING DATA: None EDA Agenda: 02/10/16 6b. Consideration to review EDA Bylaws & Enabling Resolution (AS) A. REFERENCE AND BACKGROUND: The EDA is asked to review the Bylaws and Enabling Resolution of the Economic Development Authority and to recommend for any amendments. The EDA's bylaws outline the role of the EDA officers, executive director, and the general meeting rules and procedures. The EDA amended its bylaws in 2015, amending to delete unnecessary references to the EDA Ordinance. This was due to the fact that the EDA Ordinance was amended to refer to the EDA's Enabling Resolution. The EDA Enabling Resolution authorizes the establishment of the EDA and enumerates the powers and duties of the EDA. The Enabling Resolution also identifies the EDA's control and authority for the Housing and Redevelopment Authority for the City. It has not been found necessary to amend the EDA Enabling Resolution since 2013. Kennedy & Graven is completing a review of both the bylaws and enabling resolution. At this time, the comments resulting from that review are not yet available. Should the attorney recommend changes, those items will be brought forward at the meeting for discussion. No public hearing is required to amend the bylaws. Should the EDA recommend amendments to the Enabling Resolution, a public hearing is required, and subsequent review and adoption by the City Council is also required. B. ALTERNATIVE ACTIONS: If amendment is requested: Motion to direct staff to prepare amendments to the bylaws and /or Enabling Resolution of Economic Development Authority as may be directed by the EDA. C. STAFF RECOMAWNDATION: Staff believes that the bylaws of the EDA continue to reflect EDA practice and are consistent with the EDA's adopted Enabling Resolution, subject to any amendments recommended by the EDA attorney. Additionally, staff have reviewed the Enabling Resolution and subject to the comments of the EDA's attorney, recommends no amendments at this time. D. SUPPORTING DATA: Bylaws of the Economic Development Authority EDA Enabling Resolution CITY OF MONTICELLO WRIGHT COUNTY, MINNESOTA ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2015-005 APPROVING AMENDMENT OF BYLAWS WHEREAS, the Board of Commissioners of the City of Monticello Economic Development Authority (the "Authority ") has considered proposed amendments to its Bylaws; and WHEREAS, the Board has determined that it is reasonable, expedient and in the best interest of the public to amend the Bylaws of the Authority for consistency with Amended and Restated Resolution Enabling the Creation of the City of Monticello Economic Development Authority dated October 22, 2007 and as it may be amended (the "Enabling Resolution ") and Section 2 -3 -1 of Ordinance Amendment No. 172, Chapter 3, City of Monticello. WHEREAS, Article VIII, Section 1 of the Bylaws provides for amendments to the Bylaws by majority vote of the Board at any regular or special meeting of the Authority. NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the City of Monticello Economic Development Authority as follows: Resolution. 1. The Authority's Bylaws are amended in the form attached to this 2. The Board hereby approves the amended Bylaws. Approved by the d of ssioners of the City of Monticello Economic Development Authority thisk day of . 2015. President ATTEST: Ex Director /Secretary BYLAWS OF THE ECONOMIC DEVELOPMENT AUTHORITY ARTICLE I - THE AUTHORITY Section 1. Name of Authority. The name of the Authority shall be the "City of Monticello Economic Development Authority." Section 2. Office of Authority. The office of the Authority shall be at the City Hall in the City of Monticello, State of Minnesota, but the Authority may hold its meetings at such other place or places as it may designate by resolution. Section 3. Seal of Authority. The seal of the Authority shall be in the form of a circle and shall bear the name of the Authority and the year of its organization. Section 4. Establishment. The City of Monticello Economic Development Authority is established pursuant to Minnesota Statutes, Section 469.090 to 469.108 1, as amended. ARTICLE II - THE COMMISSIONERS Section 1. Appointment, _Terms, Vacancies, Pay, and Removal. Shall be in accordance with the Amended and Restated Resolution Enabling the Creation of the City of Monticello Economic Development Authority dated October 22, 2007 and as it may be amended (the "Enabling Resolution ") and Section 2 -3 -1 of Ordinance Amendment No. 172, Chapter 3, City of Monticello, Wright County, Minnesota. ARTICLE III - THE OFFICERS Section 1. Officers. The Authority shall elect a president, a vice president, a treasurer, a secretary, and an assistant treasurer at the annual meeting. A commissioner must not serve as president and vice president at the same time. The other offices may be held by the same commissioner. The offices of secretary and assistant treasurer need not be held by a commissioner. Section 2. President. The President shall preside at all meetings of the Authority. Except as otherwise authorized by resolution of the Board of Commissioners, the President and the Executive Director (the Assistant Treasurer, in the Executive Director's absence or incapacity) shall sign all contracts, deeds, and other instruments made or executed by the Authority, except that all checks of the Authority shall be signed by the Treasurer and Assistant Treasurer. At each meeting the President shall submit such recommendations and information as he or she may consider proper concerning the business, affairs, and policies of the Authority. Section 3. Vice President. The Vice President shall perform the duties of the President in the absence or incapacity of the President, including signing all contracts, deeds, and other instruments executed by the Authority; and in the case of the resignation or death of the 325599v6 MNI MN190 -130 President, the Vice President shall perform such duties as are imposed on the President until such time as the Board shall select a new President. Section 4. Secretary. The Secretary shall keep minutes of all meetings of the Board and shall maintain all records of the Authority. The office of Secretary may be held by the Executive Director upon approval thereof by the Authority. Section 5. Treasurer's Duties. The treasurer: (1) shall receive and is responsible for Authority money; (2) is responsible for the acts of the assistant treasurer; (3) shall disburse Authority money by any Authority- approved method, including without limitation check, wire transfer, or credit card; (4) shall keep an account of the source of all receipts and the nature, purpose, and authority of all disbursements; (5) shall file the Authority's detailed financial statement with its secretary at least once a year at times set by the Authority; and (6) shall prepare and submit an annual report describing the Authority's activities and providing an accurate statement of its financial condition to the City of Monticello by no later than one month following the annual meeting of the Authority. Section 6. Assistant Treasurer. The assistant treasurer has the powers and duties of the treasurer if the treasurer is absent or incapacitated. Section 7. Public Money. Authority money is public money. ARTICLE IV - EXECUTIVE DIRECTOR The City Administrator shall be designated as Executive Director of the Authority. Section 1. Duties. The Executive Director shall have general supervision over the administration of the Authority's business and affairs subject to the direction of the Authority. The Executive Director in his or her own name and title shall keep the records of the Authority, shall act as recorder of the meetings of the Authority and record all votes, and shall keep record of the proceedings of the Authority in a journal of proceedings to be kept for such purpose, and shall perform all duties incident to the office. The Executive Director shall, with the President, sign all contracts, deeds, and other instruments executed by the Authority, and shall keep in sole custody the seal of the Authority and shall have power to affix such seal to all contracts and instruments authorized to be executed by the Authority. 2 325599v6 MNI MN190 -130 Any person appointed to fill the office of Executive Director, or any vacancy herein, shall have such terms as the Authority fixes, but no commissioner of the Authority shall be eligible to serve as the Executive Director. ARTICLE V - MEETINGS Section 1. Regular Meetings. Regular meetings shall be held on the 2nd Wednesday of each month. Section 2. Annual Meeting. The annual meeting of the Authority shall be held in conjunction with the regular February meeting at the regular meeting place of the Authority. The August regular meeting shall include final fund balances reviewed at the Annual Meeting. Section 3. Special Meetings. Special meetings of the Authority may be called by the President, two members of the Authority, or the Executive Director for the purpose of transacting any business designated in the call. All commissioners of the Authority shall be notified. Section 4, Quorum. At any meeting of the Authority, the presence of four commissioners shall constitute a quorum. If a quorum is not present at any meeting, those present shall have power to adjourn the meeting from time to time without notice other than announcement at such meeting until the requisite number of votes shall be present to constitute a quorum. At any such adjourned meeting at which a quorum is present, any business may be transacted which might have been transacted at the meeting as originally called. Any resolution, election, or other formal action of the Authority shall be adopted upon the affirmative vote of a majority of the Authority membership. Section 5. Rules of Procedure. Unless otherwise specified in the Enabling Resolution or in these bylaws, all meetings of the Authority shall be conducted in accordance with Roberts' Rules of Order revised. Section 6. Manner of Voting. The voting on all questions coming before the Authority shall be voice unless the President calls for a roll call vote. The yeas and nays shall be entered upon the minutes of such meetings.. ARTICLE VI - EMPLOYEES; SERVICES; SUPPLIES Section 1. Em llooyees. Subject to limits set by the appropriations or other funds made available, the Authority may employ such staff, technicians, and experts as may be deemed proper and may incur such other expenses as may be necessary and proper for the conduct of its affairs. Section 2. Contract for Services. The Authority may contract for services of consultants, agents, public accountants, and other persons needed to perform its duties and exercise its powers. Section 3. Legal Services. The Authority may use the services of the city attorney or hire a general counsel for its legal needs. The city attorney or general counsel, as determined by 3 325599v6 MNI MN 190-130 the Authority, is its chief legal advisor. Section 4. Sup 1p ies. The Authority may purchase the supplies and materials it needs to carry out its function pursuant to Minnesota Statutes, Sections 469.090 to 469.1081. Section 5. City Purchasing. The Authority may use the facilities of its city's purchasing department in connection with construction work and to purchase equipment, supplies, or materials. Section 6. City Facilities, Services. The City may furnish offices, structures and space, and stenographic, clerical, engineering, or other assistance to the Authority. Section 7. Delegation Power. The Authority may delegate to one or more of its agents or employees powers or duties as it may deem proper. ARTICLE VII - POWERS Section 1. Functions, Powers, and Duties. Shall be in accordance with the Enabling Resolution. Section 2. Limitations of Power. Shall be in accordance with the Enabling Resolution. ARTICLE VIII - AMENDMENTS Section 1. Amendment to Bylaws. The bylaws of the Authority shall be amended by a majority vote of the Authority membership at a regular or special meeting. The amendments must be in written form. Section 2. Conflicts. In any instance where these bylaws are in conflict with the Enabling Resolution, the Enabling Resolution shall control. Section 3. Effective Date. These bylaws are effective upon their adoption by the Authority. Dated: _ , 2015. (Seal) n 325599v6 MNI MN190 -130 Signed: President "executive Director CITY OF MONTICELLO WRIGHT COUNTY, MINNESOTA RESOLUTION NO. 2013-010 AMENDED AND RESTATED RESOLUTION ENABLING THE CREATION OF THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY BE IT RESOLVED by the City Council of the City of Monticello, Minnesota ( "City") as follows: Section 1. Background and Findings 1.01. The City is authorized by Minnesota Statutes, Sections 469.090 to 469.1081 (the "EDA Act ") to establish an economic development authority to coordinate and administer economic development and redevelopment plans and programs for the City. 1.02. By Ordinance No. 172, approved April 10, 1989 and codified in the City Code as Title II, Chapter 3 (the "Enabling Ordinance "), the City established the City of Monticello Economic Development Authority ( "EDA"), for the purpose of coordinating and administering economic development activities in and for the City. 1.03. By resolutions approved on October 22, 2007 and January 14, 2008, the City transferred to the EDA the control, authority and operation of all projects administered by the Housing and Redevelopment Authority in and for the City of Monticello and adopted an Amended and Restated Enabling Resolution (the "Enabling Resolution "), which superceded the Enabling Ordinance in all respects. 1.04. The City Council further amended the Enabling Resolution after a duly noticed public hearing on February 27, 2012, 1.05. The City Council has now determined to revise and clarify certain provisions of the Enabling Resolution by the adoption of this resolution. 1.06. The City Council has, in accordance with Minnesota Statutes Section 469.093, provided public notice and conducted a public hearing on the date hereof, at which all persons wishing to be heard were given an opportunity to express their views, concerning the proposed modifications to the Enabling Resolution. 1.07. This resolution constitutes an amendment and restatement of the Enabling Resolution of February 27, 2012, and supercedes such Enabling Resolution in all respects. Section 2. Enabling Authority. 2.01. The EDA was established pursuant to the EDA Act under the Enabling Ordinance as adopted April 10, 1989 and codified as Title Il, Chapter 3 of the City Code, as amended and restated by this resolution. 2.02. The EDA shall be composed of 7 commissioners to be appointed by the Mayor and confirmed by the City Council. 2.03. Two of the commissioners shall be members of the City Council. The terms of office of the two members of the City Council shall coincide with their terms of office as members of the City Council. The remaining five (5) commissioners shall be initially appointed for terms of one, two, three, four, and five years respectively. Thereafter, all non - Council commissioners shall be appointed for six -year terms. 2.04. A vacancy is created in the membership of the EDA when a City Council member of the board of commissioners ends Council membership, when any commissioner ends EDA membership prior to expiration of his or her term of office, on the day following the expiration of a commissioner's term of office, or when a commissioner is removed by the City Council subject to the terms of Section 2.07 hereof . A vacancy for this or any other reason must be filled for a new term or the balance of the unexpired term, as applicable, in the manner in which the original appointment was made. 2.05. All of the commissioners who are not members of the City Council must be either residents of the City, business - owners in the City, or property- owners in the City. 2.06. All commissioners shall serve at the pleasure of the City Council, subject to the terms of Section 2.07 hereof. Vacancies shall be filled by appointment by the Mayor with the confirmation of the City Council. 2.07. A commissioner may be removed by the City Council for inefficiency, neglect of duty, or misconduct in office. A commissioner shall be removed only after a hearing. A copy of the charges must be given to the commissioner at least 10 days before the hearing. The commissioner must be given an opportunity to be heard in person or by the counsel at the hearing. When written charges have been submitted against the commissioner, the City Council may temporarily suspend the commissioner. If the City Council finds that those charges have not been substantiated, the commissioner shall be immediately reinstated. If a commissioner is removed, a record of the proceedings together with the charges and findings shall be filed in the office of the City Administrator. 2.08. The City Council shall make available to the RDA such appropriations as it deems fit for salaries, fees, and expenses necessary in the conduct of its work. The EDA shall have authority to expend all budgeted sums so appropriated and recommend the expenditures of other sums made available for its use from grants, gifts, and other sources for the purposes and activities authorized by this resolution. Section 3. Officers and Meetings. 3.01. The EDA shall elect a president, vice president, treasurer, assistant treasurer, and secretary annually. A commissioner must not serve as president and vice president at the same time. The other offices may be held by the same commissioner. The other offices of the secretary and assistant treasurer need not be held by a commissioner. 3.02. The EDA shall adopt rules and procedures not inconsistent with the provisions of this Enabling Resolution or as provided in Minnesota Statutes, Section 469.096, and as may be necessary for the proper execution and conduct of its business. The EDA shall adopt bylaws and rules to govern its procedures and for the transaction of its business and shall keep a record of attendance at its meetings and/or resolutions, transactions, findings, and determinations showing the vote of each commissioner on each question requiring a vote, or if absent or abstaining from voting, indicating such fact. The records of the EDA shall be a public record, except for those items classified by law as nonpublic data. 3.03. The EDA shall meet at least quarterly. Special meetings may be called by the president as needed. 3.04. All administrative procedures, including contract for services, purchases of supplies, and financial transactions and duties shall be outlined in the bylaws of the EDA. Section 4. Staff. 4.01. The City Administrator, or any other person designated in writing by the City Administrator and approved by a majority of the EDA commissioners, shall be designated as Executive Director of the EDA. 4.02. Subject to limits set by the appropriations or other funds made available, the EDA may employ such staff, technicians, and experts as may be deemed proper, and may incur such other expenses as may be necessary and proper for the conduct of its affairs. Section 5. Functions, Powers, and Duties. 5.01. Except as specifically limited by the provisions of Section 6 of this Enabling Resolution, the EDA shall have the authority granted it pursuant to the EDA Act. 5.02. The EDA shall manage the Greater Monticello Enterprise Fund (the "Fund ") the purpose of which is to encourage economic development by making loans to private businesses. The EDA shall make loans to eligible businesses, and such loan(s) shall serve a public purpose as defined in the Greater Monticello Enterprise Fund Guidelines (Fund Guidelines). The Fund Guidelines are hereby adopted by reference and included in the bylaws of the EDA. No changes to the fund Guidelines shall be made without approval of the City Council. 5.03. The FDA may be a limited partner in a partnership whose purpose is consistent with the EDA's purpose. 5.04. The EDA may issue general obligation bonds and revenue bonds when authorized by the City Council and pledge as security for the bonds the full faith, credit, and resources of the City or such revenues as may be generated by projects undertaken by the EDA. 5.05. The EDA may cooperate with or act as agent for the federal or state government or a state public body, or an agency or instrumentality of a government or other public body to carry out the powers granted it by the EDA Act or any other related federal, state, or local law in the area of economic development district improvement. 5.06. The FDA may annually develop and present an economic development strategy and present it to the City Council for consideration and approval. 5.07. The FDA may join an official, industrial, commercial, or trade association or other organization concerned with such purposes, hold reception of officials who may contribute to advancing the City and its economic development, and carry out other appropriate public relations activities to promote the city and its economic development. 5.08. The EDA may perform such other duties which may be lawfully assigned to it by the City. All city employees shall, upon request and within a reasonable time, furnish the EDA or its employees or agents such available records or information as may be required in its work. The EDA or its employees or agents may, in the performance of official duties, enter upon lands and make examinations or surveys in the same manner as other authorized City agents or employees and shall have such other powers as are required for the performance of official functions in carrying out the purposes of this resolution. Section 6. Limitations of Power. 6.01. The following limits apply to the EDA and its operation: (a) The sale of bonds or other obligations of the FDA must be approved by the City Council. (b) The EDA must follow the budget process for City departments in accordance with City policies, ordinances, and resolutions and the City charter. (c) Development and redevelopment actions of the EDA must be in conformity to the City comprehensive plan and official controls implementing the comprehensive plan. (d) The FDA must submit its plans for development and redevelopment to the City Council for approval in accordance with City planning procedures and laws. (e) Except when previously pledged by the FDA, the City Council may, by resolution, require the EDA to transfer any portion of the reserves generated by activities of the EDA that the City Council determines are not necessary for the successful operation of the EDA to the debt service funds of the city to be used solely to reduce tax levies for bonded indebtedness of the City. (f) The administrative structure and management practices and policies of the EDA must be approved by the City Council. (g) The EDA shall submit all planned activities for influencing the action of any other governmental agency, subdivision, or body to the City Council for approval. 6.02. The EDA may exercise all the powers under the EDA Act, including, but not limited to, the following: (a) all powers under the HRA Act. (b) all powers of a city under Minnesota Statutes, Section 469.124 to 469.134. (c) all powers and duties of a redevelopment agency under Minnesota Statutes, Sections 469.152 to 469.165 for a purpose in the HRA Act or the EDA Act, and all powers and duties in the HRA Act and the EDA Act for a purpose in Minnesota Statutes, Sections 469.152 to 469.165. (d) the authority to acquire property, exercise the right of eminent domain; make contracts for the purpose of redevelopment and economic development; serve as a limited partner in a partnership whose purpose is consistent with the EDA's purpose; buy supplies and materials needed to carry out development within the EDA Act; and operate and maintain public parking facilities. (e) the authority to issue bonds in accordance with the EDA Act and the HRA Act. (f) the authority to levy special benefit taxes in accordance with Section 469.033, subdivision 6 of the HRA Act in order to pay or finance public redevelopment costs (as defined in the HRA Act), subject to approval by the City Council in accordance with Section 469.033, subdivision 6. (g) all powers under Minnesota Statutes, Sections 469.474 to 469.179. 6.03. As provided in the EDA Act, it is the intention of the City Council that nothing in this resolution nor any activities of the EDA are to be construed to impair the obligations of the City or HRA under any of their contracts or to affect in any detrimental manner the rights and privileges of a holder of a bond or other obligation heretofore issued by the City, the EDA or the HRA. Section 7. Implementation. 7.01. The City Council will from time to time and at the appropriate time adopt such ordinances and resolutions as are required and permitted by the EDA Act to give full effect to this resolution. 7.02. The Mayor, the City Administrator, and other appropriate City officials are authorized and directed to take the actions and execute and deliver the documents necessary to give full effect to this resolution. 7.03. Nothing in this resolution is intended to prevent the City from modifying this Enabling Resolution to impose new or different limitations on the EDA as authorized by the EDA Act. ADOPTED BY the City Council of the City of Monticello on this 25th day of March, 2013. CITY OF MONTICELLO Clint Herbst, Mayor ATTEST: (I �' -, Z - "'- ��ey "/ J4 11, City Administrator EDA Agenda: 02/10/16 6c. Consideration of 2016 consulting legal and financial appointments (AS) A. REFERENCE AND BACKGROUND: In January of each year, the City Council makes appointments to City boards and commissions, as well as designations for consulting firms providing regular services to the City, such as the City Planner or Engineer. As part of the annual appointments and designations, staff prepares a recommendation for Council's consideration for legal counsel and financial consulting services. Consistent with past years, staff have recommended, and the Council has designated, Northland Financial as the City's financial consultant for 2016. The City also recognized Kennedy & Graven as the EDA's general counsel. In the future, the EDA will be asked in November for recommendation to bring forward to the City Council as it relates to EDA counsel and financial consultant. Staff will also provide rate information from each firm. B. ALTERNATIVE ACTIONS: Action is only requested if alternative appointments are required. C. STAFF RECOMMENDATION: As related to the 2016 appointments, staff has confidence in Kennedy & Graven and Northland Financial and is very satisfied with the level of services provided by both firms. Staff would continue to recommend their appointment. D. SUPPORTING DATA: None EDA Agenda: 02/10/16 6d. Consideration of EDA fund balance information (AS) A. REFERENCE AND BACKGROUND: The Finance Director has provided preliminary fund balance information for the EDA's reference. The EDA will note that this information represents un- audited statement of EDA funds. The EDA's bylaws provide that final fund balance reports are provided in August of each year. A report of city -owned (including EDA) properties held for resale is also included for reference. This report is provided to the EDA for reference in planning future initiatives. B. ALTERNATIVE ACTIONS: None required C. STAFF RECOMMENDATION: Not applicable D. SUPPORTING DATA: EDA Balance Sheet, December 31, 2015 Summary of City -Owned Parcels Balance Sheet Economic Development Authority December 31, 2015 (d) = decertified EDA TIF TIF T1F TIF TIF T1F TIF TIF T1F TIF TIF TIF TIF T1F Total General GM EF Future 6 (d) 19 20 22 24 29 30 34 35 36 (d) 37 (d) 38 39 EDA ASSETS Cash and investments $ 1,214,607 $ 1,133,354 $ - $693,728 $ 150,351 $ 127,785 $303,722 $ 54,665 $ 94,892 $ 97,956 $ 12 $ 4,111 $ - $ - $ - $ 56 $ 3,875,237 Receivables: Current taxes - - - - - - 710 - - - - - - - - - 710 Delinquent taxes - - - - - - - - - - - - - - - - - IntraFund receivable 473,095 - - - - - - - - - - - - - - - 473,095 Notes receivable - - - - - - - - - - - - - - - - - Land held for resale 2,473,957 - - - - - 209,000 - - - - - - - - - 2,682,957 Prepaid Items 869 869 TOTAL ASSETS $4,162,528 $1,133,354 $ $693,728 $150,351 $127,785 $513,432 $ 54,665 $ 94,892 $ 97,956 $ 12 $ 4,111 $ $ $ $ 56 $7,032,868 LIABILITIES Liabilities: Accounts and contracts payable $ 8,784 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 8,784 IntraFund payable - - 44,497 - - - 408,883 - - - 19,715 - - - - - 473,095 Unearned revenue - - - - - - - - - - - - - - - - - Escrow deposits _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Total liabilities $ 8,784 $ $ 44,497 $ $ $ $408,883 $ $ $ $ 19,715 $ $ $ $ $ $ 481,879 DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes - - - - - - - - - - - - - - - - - Unavailable revenue - notes receivable Total Deferred Inflows of Resources FUND BALANCES Nonspendable 869 - - - - - 209,000 - - - - - - - - - 209,869 Restricted 2,473,957 1,133,354 - - - - - - - - - - - - - - 3,607,311 Assigned 1,678,918 - (44,497) 693,728 150,351 127,785 (104,451) 54,665 94,892 97,956 (19,703) 4,111 - - - 56 2,733,810 Unassigned _ Total fund balance 4,153,744 1,133,354 4( 4,497) 693,728 150,351 127,785 104,549 54,665 94,892 97,956 1( 9,703) 4,111 - - - 56 6,550,990 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES $ 4,162,528 $ 1,133,354 $ $693,728 $ 150,351 $ 127,785 $513,432 $ 54,665 $ 94,892 $ 97,956 $ 12 $ 4,111 $ $ $ $ 56 $ 7,032,868 (d) = decertified CITY OF MONTICELLO Statement of Revenues, Expenditures and Changes in Fund Balance Economic Development Authority Year Ended December 31, 2015 EDA TIF TIF TIF TIF TIF TIF T1F T1F TIF TIF TIF TIF TIF TIF Total General GM EF Future 6 19 20 22 24 29 30 34 35 36 (d) 37 (d) 38 39 EDA Revenues: Property taxes $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Tax increments - - - - 21,222 17,173 290,009 39,494 20,480 8,801 214,364 - 58,241 - 11,757 46,786 728,327 Intergovernmental - - - - - - - - - - - - - - - - - Charges for services 1,250 - - - - - - - - - - - - - - - 1,250 Investment earnings 18,489 14,625 - 9,684 1,543 1,533 2,871 664 1,227 1,318 12 65 - - - 1 52,032 Intrafund loan repayments 143,815 - - - - - - - - - - - - - - - 143,815 Other revenues 622 622 Total revenues 164,175 14,625 9,684 22,765 18,706 292,880 40,158 21,707 10,119 214,376 65 58,241 11,757 46,787 926,046 Expenditures: Current Salary and wages 7,535 - - - - - - - - - - - - - - - 7,535 Benefits 3,010 - - - - - - - - - - - - - - - 3,010 Supplies 66 - - - - - - - - - - - - - - - 66 Professional services - legal 9,130 - - - - - - - 463 - - 592 - - - - 10,184 Professional services - market matching 45,818 - - - - - - - - - - - - - - - 45,818 Professional services - enviromental - - 44,497 - - - - - - - - - - - - - 44,497 Professional services - other 7,701 - - - - - - - - - - - - - - - 7,701 LPV Insurance 1,937 - - - - - - - - - - - - - - - 1,937 Legal and general publications 5,360 - - - 26 26 26 26 26 26 26 26 - - 26 - 5,594 Propertytaxes 1,356 - - - - - - - - - - - - - - - 1,356 Marketing 5,650 - - - - - - - - - - - - - - - 5,650 Dues and membership 4,696 - - - - - - - - - - - - - - - 4,696 Utilities - - - - - - - - - - - - - - - - - ITservices 1,416 - - - - - - - - - - - - - - - 1,416 Travel and conferences - - - - - - - - - - - - - - - - - Land acquisition costs - - - - - - 37,090 - - - - - - - - - 37,090 Land adjustment to market 732,900 - - - - - 12,900 - - - - - - - - - 745,800 Other expenses 10,926 - - - - - - - - - - - - - - - 10,926 Excess increments - - - - - - 195,267 - - - - - - - - - 195,267 TIF payments to third parties - - - - - 6,182 50,684 35,545 16,861 - - - - - - - 109,273 TIF payment of intrafund loans 7,921 77,377 11,731 46,786 143,815 Total expenditures 837,500 44,497 26 6,208 295,967 35,571 17,350 7,947 26 618 77,377 11,757 46,786 1,381,630 Excess (deficiency) of revenues over expenditures (673,325) 14,625 (44,497) 9,684 22,739 12,498 (3,087) 4,587 4,357 2,172 214,350 (553) (19,136) 1 (455,585) Other financing sources (uses): Transfers in 94,900 - - - - - - - - - - - - - - - 94,900 Transfers out _ Total other financing sources (uses) 94,900 94,900 Net change in fund balances (578,425) 14,625 (44,497) 9,684 22,739 12,498 (3,087) 4,587 4,357 2,172 214,350 (553) (19,136) - - 1 (360,685) Fund balance at beginning of year 4,732,169 1,118,729 684,044 127,612 115,287 107,636 50,077 90,535 95,784 (234,053) 4,664 19,136 55 6,911,674 Fund balance at end of year $ 4,153,744 $ 1,133,354 $ (44,497) $ 693,728 $ 150,351 $ 127,785 $ 104,549 $ 54,665 $ 94,892 $ 97,956 _L(19,703) $ 4,111 $ $ $ 56 $ 6,550,990 Statement of Revenues, Expenditures and Changes in Fund Balance Economic Development Authority 2016 Budget Revenues: Property taxes Tax increments Intergovernmental Charges for services Investment earnings Intrafund loan repayments Other revenues Total revenues Expenditures: Current Salary and wages Benefits Supplies Professional services - legal Professional services - market matching Professional services - enviromental Professional services - other LPV Insurance Legal and general publications Propertytaxes Marketing Dues and membership Utilities IT services Travel and conferences Land acquisition /redevelopment Land adjustment to market Other expenses Excess increments TIF payments to third parties TIF payment of intrafund loans Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Transfers in Transfers out Total other financing sources (uses) Net change in fund balances Fund balance at beginning of year Fund balance at end of year CITY OF MONTICELLO EDA TIF TIF TIF TIF TIF TIF T1F T1F TIF TIF TIF TIF TIF TIF Total General GM EF Future 6 19 20 22 24 29 30 34 35 36 (d) 37 (d) 38 39 EDA $ 280,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 280,000 - - - - 21,222 17,173 288,000 39,494 21,076 8,801 215,000 - - - 11,757 53,471 675,994 1,250 - - - - - - - - - - - - - - - 1,250 23,000 22,000 - 9,500 1,800 1,800 3,000 800 1,500 1,500 - 100 - - - - 65,000 73,966 - - - - - - - - - - - - - - - 73,966 500 500 _ _ _ _ _ _ _ _ _ _ _ _ 378,716 22,000 9,500 23,022 18,973 291,000 40,294 22,576 10,301 215,000 100 11,757 53,471 1,096,710 66,560 - - - - - - - - - - - - - - - 66,560 28,309 - - - - - - - - - - - - - - - 28,309 10,000 - - - - 100 - - - - - - - - - - 10,100 12,000 - - - - - - - - - - - - - - - 12,000 11,000 - - - - 500 1,707 100 100 100 100 - - - 100 - 13,707 758 - - - - - 1,414 - - - - - - - - - 2,172 500 - - - 50 50 50 50 50 50 50 50 - - 50 - 950 1,300 - - - - - - - - - - - - - - - 1,300 5,000 - - - - - - - - - - - - - - - 5,000 9,000 - - - - - - - - - - - - - - - 9,000 1,409 - - - - - - - - - - - - - - - 1,409 1,500 - - - - - - - - - - - - - - - 1,500 155,000 - - - - - 50,000 - - - - - - - - - 205,000 2,664 - - - - - - - - - - - - - - - 2,664 - - - - - - 195,000 - - - - - - - - - 195,000 - - - - - 6,182 50,683 35,545 16,861 - - - - - - - 109,272 7,920 12,577 53,469 73,966 305,000 50 6,832 298,854 35,695 17,011 8,070 150 50 12,727 53,469 737,909 73,716 22,000 9,500 22,972 12,141 (7,854) 4,599 5,565 2,231 214,850 50 (970) 2 358,802 (200,000) _ _ _ _ _ (200,000) (200,000) (200,000) 73,716 22,000 - 9,500 22,972 12,141 (7,854) 4,599 5,565 2,231 14,850 50 - - (970) 2 158,802 4,153,744 1,133,354 (44,497) 693,728 150,351 127,785 104,549 54,665 94,892 97,956 (19,703) 4,111 56 6,550,990 $ 4,227,460 $ 1,155,354 $ (44,497) $ 703,228 73,323 $ 139,925 $ 96,695 $ 59,264 $ 100,457 $ 100,187 $ (4,853) 4,161 $ 1 (970) $ 58 $ 6,709,792 Summary of City Owned Parcels Asset # Description Parcel ID Fund 213 -EDA T 1270 TAX FORFEITED -HRA 155.033.900010 1293 HRA OWNED- REDEVELOPMENT 155.010.052071 1294 HRA OWNED LAND 155.010.054011 2091 201 E BROADWAY PARCEL 2/2 155.010.067010 2093 201 E BROADWAY PARCEL 1/2 155.010.067060 413 -4th Street West 155.010.029020 Montgomery Farms 155.010.034130 MOV OU' Montgomery Farms (lot combined into one no, 155.010.034150 Culps - 349 Broadway West 155.010.050011 Monticello Liquors (The Zoo) 155.010.034102 Land Adjacent to Otter Creek 155.171.000060 R1 Otter Creek Crossing 2nd Addition 155.194.000030 S Otter Creek Crossing 3rd Addition 155.194.000010 T Otter Creek Crossing 3rd Addition 155.194.000020 U Otter Creek Crossing 3rd Addition 155.194.000030 V Otter Creek Crossing 3rd Addition 155.194.000040 J Otter Creek Crossing 155.171.000050 R1 Otter Creek (Sold) - part of .000030 (461,910) value sold Total Ottercreek 2012 Land held for resale - EDA 5112112 Fund 400 -City (Fund 400 for 2015) T D Oakwood Ind Park 544,400.00 1557018.001012 E Oakwood Ind Park 147,100.00 155.018.001020 * *Krutzig - 2.7 acre vacant parcel 155.176.001020 1849 JEFFERSON COMMONS - OUTLET C 155.164.000030 1850 JEFFERSON COMMONS - OUTLET D 155.164.000040 1360 TAX FORFEIT - FUTURE DEV 155.500.142303 1361 TAX FORFEIT - FUTURE DEV 155.500.142300 Y Unplatted Land Recorded as land held for resale at 2008 assessed value 155.500.134400 Al Unplatted Land 155.500.241102 1155.500.241103 B1 Unplatted Land 151,000.00 120,800.00 1273 STORMWATER HOLDING POND 155.020.005050 1326/0 90TH STREET 3RD ADDITION 155.185.000010 0 =group purchases. City of Monticello 31- Dec -15 PBC Book Value Purchased/Remove MarketAmount Book Value Notes PY T 544,400.00 8/31/2006 Bowling Alley purchased from L &P Vendures, LL 139,700.00 147,100.00 139,700.00 Used value that was recorded as land held forresale in 357 56,600.00 77,800.00 56,600.00 Recorded as land held for resale at 2008 assessed value 30,000.00 30,000.00 30,000.00 Recorded as land held for resale at 2008 assessed value 192,500.00 154,400.00 154,400.00 Recorded as land held for resale at 2008 assessed value 151,000.00 120,800.00 120,800.00 Recorded as land held for resale at 2008 assessed value 20,000.00 25,000.00 20,000.00 4/11/1997 Tax forfeited 179,700.00 96,500.00 96,500.00 2012 Land held for resale - EDA 5112112 637,500.00 58,600.00 58,600.00 Expensed 112 to build roadways; keeping 112 for sale per Shiba 84,000.00 81,500.00 81,500.00 2012 Land held for resale - EDA 817112 221,900.00 209,000.00 209,000.00 2014 Land held for resale - EDA April 2014 129,900.00 136,700.00 129,900.00 Land held for resale - EDA 372,900.00 Land held for resale - EDA 1,787,089.19 566,600.00 1,764,189.19 Land held for resale - EDA 412,000.00 Land held for resale - EDA 372,900.00 Land held for resale - EDA 5,000.00 Land held for resale - EDA, with pond 1,338,600.00 Contract for Deed with Chadwick, land held for resale 585,956.67 1,585,956.67 s 3,428,756.67 4,205,400.00 2,682,956.67 4600 PY T (745,800.00) adjustment (needed rounding off of .66) 561,500.00 544,400.00 544,400.00 8/31/2006 Bowling Alley purchased from L &P Vendures, LL 79,907.19 93,500.00 79,907.19 8/31/2006 Bowling Alley purchased from L &P Vendures, LL 664,400.00 658,600.00 658,600.00 7/18/2012 8,305.00 872,900.00 8,305.00 7/1/2004 Jefferson Commons 9,577.00 927,000.00 9,577.00 7/1/2004 Jefferson Commons 21,300.00 666,000.00 21,300.00 4/11/1997 Tax forfeited 30,400.00 821,900.00 30,400.00 4/11/1997 Tax forfeited 51,200.00 53,900.00 51,200.00 8/31/2006 Monti Club 23,700.00 24,900.00 23,700.00 8/31/2006 Monti Club 140,000.00 175,000.00 140,000.00 8/31/2006 Monti Club 20,000.00 25,000.00 20,000.00 9/8/1989 Land held for resale 176,800.00 176,800.00 176,800.00 9/30/2004 Jacob's Holdings property i 1,787,089.19 5,039,900.00 1,764,189.19 4600 (22,900.00) adjustment (needed rounding off of .83) EDA Agenda: 02/10/16 7. Consideration of Market Matching report A. REFERENCE AND BACKGROUND: A verbal report will be provided by WSB Market Matching consultant John Uphoff. EDA Agenda - 02/10/16 8. Consideration of 2016 Monticello Times manufacturing publication participation. (AS) A. REFERENCE AND BACKGROUND: The Monticello Times is seeking to develop a new publication intended to focus on Monticello's manufacturing sector. Staff's understanding is that the Times intends the publication to provide general community information pertinent to attracting and retaining manufacturing, and to highlight numerous industries within the community. The Times is looking to the EDA and IEDC to help provide content for the document to support relevance to the industrial community, and to create a piece which serves to encourage the development of additional industrial projects within the community. Staff's understanding is that the publication could be used as a marketing tool for industrial development for the city. The publication is intended to be produced in time for distribution during Minnesota Manufacturing Week in October. A representative from the Monticello Times will be present at the meeting to provide additional information on the publication and cost. Al. Budget Impact: Unknown at this time. The EDA's 2016 marketing budget is $5,000. A2. Staff Impact: If the EDA elects to move forward, staff will work with the Monticello Times to develop content and focus as requested. B. STAFF RECOMMENDATION: None at this time. C. ALTERNATIVE ACTIONS: Motion to approve continued work with the Monticello Times on development of a 2016 Monticello Times manufacturing publication and to authorize an expenditure of $ toward the publication. 2. Motion to table action for further research and discussion. D. SUPPORTING DATA: None EDA Agenda: 02/10/16 9. Economic Development Report (JO /AS) Economic Development Manager Position After a first round of application and interviews, the City has elected to re -post the Economic Development Manager position. The position posting will remain open until February 14th. Staff appreciates the time on the part of the EDA members who contributed to the recent hiring discussion. 349 West Broadway Update WSB & Associates will be preparing the Asbestos and Limited Regulated Materials Survey for this site over the next two -three weeks, with on -site investigation occurring the week of February 8th. Staff have obtained three quotes for a certificate of survey for the site, as requested by the EDA. In comparing the quotes, it has come to staff's attention that pricing varies based on the availability of current title information. As such, staff will be gathering additional background information on costs associated with preparing a new title commitment and then request revisions to quotes accordingly. LSI —100 East Broadway As previously noted to the EDA, the Limited Site Investigation document has been finalized for the 100 East Broadway site. The LSI was submitted to the MN Department of Commerce Petrofund for reimbursement of up to 80% of the cost. Approximately $6,400 of the cost of the study are eligible for reimbursement. Petrofund has requested additional clarifications from WSB on the study, which are being prepared. The EDA will be notified when the reimbursement is authorized and received. Environmental —130 East Broadway Staff has spoken with Ryan Spencer of WSB & Associates regarding the questions raised by the EDA on the proposed Phase II Environmental Site Assessment for the 130 East Broadway site. Mr. Spencer indicated that should contamination be found which constitutes immediate threat to the health or safety of the community or surroundings, the EDA would be required to act. Mr. Spencer indicated that testing is the means by which the EDA would understand whether contamination is present, and to what level. Mr. Spencer also noted that regardless of random site testing as proposed with the Phase II, contamination can be localized and not found with such testing. It may be discovered later with demolition and redevelopment. AT this time, staff would propose to continue discussion IEDC A discussion with the IEDC was held on February 5th regarding their purpose and goals. The feedback from the IEDC was very positive in their desire to serve as a platform for an EDA Agenda: 02/10/16 exchange of information and ideas related to the furthering of manufacturing and industry goals for the community. The IEDC's annual work plan will be developed with the group accordingly and shared with the EDA at a future meeting. Market Matching Services Staff has scheduled a meeting with WSB on February 12th, 2016 as related to continued Market Matching services for 2016. In July, the EDA authorized utilization of Market Matching services on a month -to -month basis at the monthly rate of $4,000. The contract is valid through June, 2016. However, the EDA should note that budgeted funds are only available in the amount of $12,000 for Market Matching services in 2016. This amount anticipated the hire of an economic development staff person and the re- evaluation of Market Matching services. Wilson Development Services The EDA has previously worked with Wilson Development Services for consulting services for acquisition and relocation support services on projects including those associated with the implementation of Embracing Downtown. At this time, the EDA's previously approved work with Wilson Development Services has reached its approved amount in terms of cost. It is important to note that services by Wilson Development are billed on actual time and service provided. The EDA will need to consider an additional contract or hourly rates with Mr. Wilson should it wish to continue services with Wilson Development Services on initiatives related to Embracing Downtown goals. Staff have therefore requested a general proposal which outlines potential work to be completed as related specifically to Block 34. Keller Williams Staff has spoken with Keller Williams Commercial real estate representatives. They are looking to present more concrete information on services to the EDA for its redevelopment and land sale goals. Staff has requested that they prepare specifics for a workshop presentation on March 9th, 2016 at 5:00 PM, pending EDA action to call for workshop. FNM The City has interviewed two firms for management and operations of FiberNet Monticello. More information on this item will be presented by the City Administrator during the meeting. 2 K Wright County Economic Development Partnership Pormenng for Opporrund;es February 2, 2016 Jeff O'Neil City of Monticello 505 Walnut St. Monticello MN 55362 Dear Jeff, I would like to take this opportunity to thank you for your support of the Wright County Economic Development Partnership. We are excited you are partnering with us for 2016. This upcoming year will be a year of positive change and success. The WCEDP is working on a number of initiatives and will continue to provide valuable development seminars, support economic development across the board, and more. Please take a look at some of what the Partnership offers -- directly and indirectly supporting your business and our County. Technical support to business start -ups, Business Retention & Expansion visits to existing companies, and identifying assistance requirements. We are now a satellite Small Business Development Center through SCSU! Monthly development seminars -- topics that provide current information and networking opportunities to business owners and those interested in development in Wright County. Supporting contractors, developers, and realtors readily find places for new commercial and industrial development in Wright County. Marketing business opportunities in Wright County and generating leads that will result in new businesses in the County. Acting as a resource for Wright County municipalities from EDA support to property listings to pertinent legislative updates. Providing information and resources through our new directory, written reference materials, development seminars, and our website (fully redesigned). Rejuvenated communication outlets, business resource guide, and marketing materials to better reflect Wright County and its businesses, communities, and citizens. Should you have any questions about the Partnership or suggestions for seminars please call me at (763) 477 -3086 or email at dnorthagen Pwrightpartnership.org. The Partnership sincerely appreciates your support! Sincerely, Du orthagen Exec0ve Director Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Summary MV Change - -- -_ - - ---- -- - -_. $80 RBC 216,356.57 (171,867.22) 7,718.32 (77,994.47) (52,581.31) (128,496.41) 63,079.72 (14,036.28) 46,846.81 (36,848.82) (44,187.13) (2,587.53) (194,597.75) Morgan Stanley 19,412.41 3,436.47 26,495.38 19,417.84 1,958.88 (39,077.22) (14,321.79) 6,524.85 5,369.61 13,967.95 954.50 (38,400.99) 5,737.89 FNC 715.00 - 10,054.00 (10,769.00) - - (0.00) Wells Fargo 441.97 409.28 631.28 (0.00) (1,482.53) (0.00) Total 236,925.95 (168,021.47) 44,898.98 (69,345.63) (52,104.96) (167,573.63) 48,757.93 (7,511.43) 52,216.42 (22,880.87) (43,232.63) (40,988.52) (188,859.86) Accumufative 236,925.95 68,904.48 113,803.46 44,457.83 (7,,647.13) (175,220.76) (126,46283) (133,97426) (81,75784) (104,638.71) (147,871.34) (168,85986) Summary of Interest RBC 18,212.52 44,962.94 50,674.23 15,750.95 14,479.75 73,041.40 18,931.53 46,431.52 50,890.28 17,592.43 17,296.46 78,13624 446,400.25 Morgan Stanley 8,224.48 7,581.60 15,233.77 6,394.66 8,806.14 12,307.07 6,615.36 7,457.13 16,556.88 6,562.64 10,360.73 8,971.80 115,072.26 FNC 1,529.03 - 1,470.95 1,427.67 - - - - - - - 4,427.65 Wells Fargo 2.66 2.37 368.18 1,414.37 3.15 1,790.73 Total 27,968.69 52,546.91 67,747.13 24,987.65 23,289.04 85,348.47 25,546.89 53,888.65 67,447.16 24,155.07 27,657.19 67,108.04 567,690.89 Accumulative 27,968.69 80,515.60 148,262.73 173,250.38 196,539.42 281,887.89 307,434.78 361,323.43 428,770.59 452,925.66 480,582.85 567,690.89 Investment Market Value Change by Month $300 $200 $100 — $ $(100) 1 n Mar Jul Aug Sep Oct Nov Dec $(200) ■ RBC ■ Morgan Stanley r FNC ■ Wells Fargo Interest Income by Month $100 - -- -_ - - ---- -- - -_. $80 $60 $40 $20 $- Jan Feb Mar Apr May Jun' Jul Aug Sep Oct Nov Dec N RBC S Morgan Stanley z FNC ■ Wells Fargo Total Investment Return by Month - 2015 $300 $200 $100 Jan Mar A r May Jul Aug Sep Oct Nov Dec $(100) Accumulative Change in Investment Market Value $300 - - -- $200 — v $100 �R o' $ $(100)J�n Feb _Mar Apr May c $(200) _.- $(300) Accumulative Interest Income $600 I— ---- _ -_.__ _' - -- --- -._ - -- - --____ —' $SOO - $400 $300 'o F $200 $100 -- $ Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Accumulative Change in Total Investment Return - 2015 $400 — $350 $300 $250 $200 $150 $100 $50 $ Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 378,831.03