EDA Agenda 08-15-2011EDA MEETING
Monday, August 15, 2011
6:00 p.m.
Mississippi Room - 505 Walnut Street, Monticello, MN
Commissioners: President Bill Demeules, Vice President Bill Tapper, Treasurer Tracy Hinz, Matt Frie,
and Council members Tom Perrault and Brian Stumpf
Staff: Executive Director Megan Barnett
1. Call to Order
2. Approve Meeting Minutes:
a. July 13, 2011
3. Consideration of additional agenda items
4. Approval of EDA Invoices
5. Public Hearing: Suburban Manufacturing
a. Consideration of approving the Purchase and Redevelopment Contract between
the EDA and Suburban Manufacturing, the Business Subsidy Agreement, and the
conveyance of land
b. Consideration of approving an Interfund Loan for advance of certain costs in
connection with Tax Increment Financing District No. 1 -39
6. Consideration of recommending the City Council appoint a candidate to fill the EDA
open seat
7. Consideration of requesting the City Council call for a public hearing to modify the
budget plan for TIF District 1 -5
8. Consideration of approving initiatives utilizing surplus TIF from District 1 -22
9. Director Report
10. Adjourn
MINUTES
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, July 13, 2011- 6:00 p.m.
Commissioners Present: President Bill Demeules, Treasurer Bill Tapper, Tracy Hinz, Matt Frie,
Council Member Tom Perrault
Commissioners Absent: Brian Stumpf
Staff Present: Finance Director Tom Kelly
Staff Absent: Executive Director Megan Barnett - Livgard
1. Call to Order
Bill Demeules called the meeting to order at 6 p.m.
2. Approve Meeting Minutes
BILL TAPPER MOVED TO APPROVE THE JUNE 22, 2011 EDA MINUTES. MOTION WAS
SECONDED BY MATT FRIE. MOTION CARRIED 4 -0. (Tom Perrault Abstained.)
3. Consideration of additional agenda items
None
4. Approval of EDA Invoices
BILL TAPPER MOVED TO APPROVE THE EDA INVOICES. MOTION WAS SECONDED BY
TRACY HINZ. MOTION CARRIED 5 -0.
5. Consideration of Authorizing Final Annual Dues Payment to Wright County Economic
Development Partnership
The Wright County Economic Development Partnership has gone through numerous transitions
in the last six months and some positive progress has been made. Other cities are now joining
the organization and efforts are in place to market Wright County. Staff recommended the EDA
continue membership until the end of the year and then reevaluate the issue.
TRACY HINZ MOVED TO APPROVE AUTHORIZING PAYMENT IN THE AMOUNT OF
$1,087 FOR THE SECOND HALF OF 2011 MEMBERSHIP DUES TO WRIGHT COUNTY
ECONOMIC DEVELOPMENT PARTNERSHIP. MOTION WAS SECONDED BY BILL
DEMEULES. MOTION CARRIED 5 -0.
6. Consideration of Adopting Resolution #2011 -68 calling for a Public Hearing on the
proposed business subsidy and conveyance of certain EDA property to Suburban
Manufacturing and concurring with the City Council action to call for a Public Hearing
for the creation of TIF District 1 -39
Suburban Manufacturing, currently located at 301 Chelsea Road in Monticello, has proposed
7.
Economic Development Authority Minutes 07/13/11
to construct a 35,000 to 40,000 square foot office, machining, and warehouse facility in the
Monticello Business Center. They would like to subdivide Outlot C of Otter Creek and situate
the building adjacent to Chelsea Road and Dalton Avenue. The project would bring new
full -time permanent jobs to Monticello.
The EDA is asked to consider supporting this local business expansion through a proposed
business subsidy, conveyance of property and the creation of a new TIF District to assist in the
write -down of land and infrastructure costs for Suburban Manufacturing. The City Council
approved calling for a public hearing for August 22, 2011, eq tl'ngent upon EDA approval, to
move forward with this project.
BILL TAPPER MOVED TO CONCUR WITH
ADOPT RESOLUTION #2011 -61 CALLING FOT
AUGUST 22, 2011, TO CONSIDER THL -T
REDEVELOPMENT PLAN FOR CENT AI
PROJECT NO. 1 AND THE PROPOSED h1
FINANCING DISTRICT 1 -39 (SUBURBAN MA
THE TIF PLAN. MOTION WAS SECONDED BY
TOM PERRAULT MOVED TO All
PUBLIC HEARING ON THE PROPC
CONVEYANCE OF CERTAIN EDA
MOTION WAS SECUNDED'BY MA
Bill
to
vgard.
8. Proceed toi,closed meetingto consider th
9. Adjournment
The meeting was adjourned at 618 p.m.
Recorder: Kerry Burri
Approved: August 15, 2011
Attest:
Tom Kelly, Finance Director
7
�'S ACTION TO
TO BE HELD ON
�TION TO THE
INCREMENT
)PROVAL OF
ARRIED 5 -0.
1 -68 CALLING FOR A
ISINESS SUBSIDY AND
�N MANUFACTURING.
,D 5 -0.
to updates included with the EDA
4. APPROVAL OF INVOICES:
a. Kennedy and Graven $1,780.98
*Chadwick Property & General EDA
b. McComb Group $9,934.28
*Embracing Downtown Study
c. Bullfrog Sweatshop $720.00
*Necessary website changes (approved in July)
d. Ehlers $2,707.50
*TIF Analysis / Potential business subsidy
e. MNCAR $225.00
*Quarterly membership dues
f Campbell Knutson $140.00
*Land purchase consultation
g. American Community News $45.60
*Pay as you go notices
f. Pay as you go payments
PF
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Kennedy & Graven, Chartered _
200 South Sixth Street ._.>
Suite 470
Minneapolis, MN 55402
(612) 337-9300 J u L 2 5 2011
Tax ID No. 41-1225694
July 22, 2011
Statement No. 103273
City of Monticello
Accounts Payable
505 Walnut Avenue, Suite 1
Monticello, MN 55362
Through June 30, 2011
MN190-00101 General EDA Matters
I declare, under penalty of law, that this
account, claim or demand is ' st and correct
and that it ben ald.
Signature of baimant
1,257.50
Total Current Billing; 1,257.50
Page: 1
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
City of Monticello Minneapolis, MN 55402
June 30, 2011
MN190-00101 General EDA Matters
Through June 30, 2011
For All Legal Services As Follows;
Hours
Amount
4/19/2011
CAH Review M Ingram voicemail regarding relocation question;
1.00
215.00
research issue and provide email response
4/19/2011
MNI Research on relocation benefits; office conference with C
1,70
306.00
Heine regarding same.
4/19/2011
MNI Phone conversation with M Barnett regarding relocation if
0.80
144.00
EDA purchases apartment building; preliminary research
regarding same.
4/1912011
MNI Phone conversation with M Barnett regarding proposed
0.50
90.00
terms for purchase agreement for Outlot F, Otter Creek
Crossing; review terms.
4/20/2011
MNI Compile and send list of relocation consultants to M
0.40
72.00
Barnett,
4/21/2011
MNI Review issues related to selfer's request for condemnation
0.80
144,00
letter from city (Outlot F, Otter Creek Crossing)
4/22/2011
SJS Research regarding sample "threat of condemnation"
0.25
47.50
letter.
4/2512011
SJS Intraoffice conference with M. Ingram regarding
0.50
95.00
condemnation threat letter; e-mail M, Ingram regarding
same; research regarding same.
4/26/2011
MNI Phone conversation with M Barnett regarding use of TIF
0.20
36.00
for relocation costs,
5/2/2011
MNI Phone conversation with M Barnett regarding spending
0.60
108.00
plan with regard to new project; review spending plan and
follow-up email.
Total Services:
$
1,257.50
Total Services and Disbursements: $ 1,257.50
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612)337-9300
Tax ID No. 41-1225694
July 21, 2011
Statement No. 103198
Monticello EDA
505 Walnut Ave
Suite 1
Monticello, MN 55362
Through June 30, 2011
MN325-00022 Chadwick Purchase Agreement
I declare, under penalty of law, that this
account, claim or demand is just and correct
a d that no part of it has been paid.
Signature of C i ant
Total Current Billing,
397.48
397.48
JUL262011 ;
Page: 1
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Monticello EDA Minneapolis, MN 55402
June 30, 2011
MN326-00022 Chadwick Purchase Agreement
Through June 30, 2011
For All Legal Services As Follows: Hours Amount
6/1/2011 CBR Revise letter to title; emails regarding closing; attend 3.00 381.00
closing at Commercial Partners, copy and distribute
closing documents; draft leiter
Total Services: $ 381.00
For All Disbursements As Follows:
Photocopies 13.40
Postage 3.08
Total Disbursements: $ 16.48
Total Services and Disbursements: $ 397.48
MCCOMB GROUP' Ltd.
R .E A L E S T A T E A N D
RE TAIL CONSULTANTS
:Tidy 12, 2011
Statement #3928
CITY OF MONTICELLO
505 Walnut Street
Monticello, Minnesota 55362
Attention: Ms. Megan Barnett
STA7'EMEN'f -ISE: i,.MBRA :iI�G 1)0\ II ` 'OWN M(31NTICEL O STUDY
Previous Balance $ :3:,811.58
Payments Received $ 0.00
Professional Services
McComb Group, Ltd $ 13,712.11
Less: Retainer -10,626.81
Economic Development Services, Inc. 2,497.50
Architectural Consortium L.L.C. 2,225.65
Westwood Professional Services 6,267.50
Less: Retainer -4,141.67
Subtotal $ 9,934.28
Total This Statement
BALANCE DUE
Retainer Balance $ 44,231.52
Statements for each firm are attached.
$ 9,934;28
$ 13,745.86
222 South Ninth Street Suite 380 Minneapolis, Minnesota 55402 • (612) 339-7000 Pax, (612) 338-5572
.❑ ❑ ❑ MCCOMB GROUP Ltd.
1:10-F R E A L E S T A T E A N D
❑❑❑
RE TAIL CONSULTANTS
July 12, 2011
Statement 93928A
CITY OF MONTICELLO
505 Walnut Street
Monticello, Minnesota 55362
Attention: Ms. Megan Barnett
STATEMENT — RE: EMBRACING DOWNTOWN MONTICELLO STUDY
Previous Balance
Payments Received
Professional Services
James B. McComb
Linda 0 i
Subtotal
Expenses
Mileage
Reproduction
Computer
Report Production
Subtotal
Total This Statement
39.50 hrs. @ $ 275
15.75 hrs. @ $ 150
5.00 hrs. @ $ 45
$ 1,638.80
Retainer - Applied $ -10,626.81
BALANCE DUE $ 4,724.10
Terms: Net ten days. Interest (at a rate of 1.5 percent per month) will be charged on all balances outstanding at the
end of the month.
222 South Ninth Street Suite 380 Minneapolis, Minnesota 55402 • (612) 339-7000 Fax: (612) 338-5572
$
0.00
$
10,862.50
2,362.50
$
1.3,225.00
$ 87.21
111.90
63.00
225.00
$
487.11
$
13.712.11
Retainer - Applied $ -10,626.81
BALANCE DUE $ 4,724.10
Terms: Net ten days. Interest (at a rate of 1.5 percent per month) will be charged on all balances outstanding at the
end of the month.
222 South Ninth Street Suite 380 Minneapolis, Minnesota 55402 • (612) 339-7000 Fax: (612) 338-5572
Economic
Development
5ervicoo
July 6, 2011
James B. McComb, President
McComb Group, Ltd.
222 South Ninth Street
Suite 380
Minneapolis, MN 55402
Invoice
Embracing Downtown Monticello
Professional Services at $135/hour for May 2011
Preferred alternative (4.75 hr)
641.25
Feasibility (2.75 hr)
371.25
Meeting with mayor/councilmember (1.5 hr)
202.50
Project Management/team & staff coordination (3.5hr)
472.50
Communications (.5 hour)
67.50
Community engagement -- public mtg (5.5 hr)
742.50
Total $2,497.50
Please make checks payable to Economic Development Services, Inc.
3109 West 50`x' St. #204 Minneapolis, MN 55410
(612) 925-2,013 fax (612) 925-2.942
email: jking @ econdevelop, coin
f
90 1 1 him, 51Jire ?20 KI
[.T,4
July 5, 2011
McComb Group Ltd.
222 South Ninth Street, Suite 380
Minneapolis, 'MN 55402
Attn: Jim McComb
Project: Downtown Monticello
Architectural Consortium LLC Project# 10-1068-01 Invoice #10
Billing Period: June 2- July 1, 2011
ARCHITECTURAL DESIGN SERVICES
Basic Services:
Design guidelines draft
Power point presentation
Presentation to city
Architectural fees: $2$200.00
Reimbursable Expenses:
Color Copies $12,40
Sales -tax @7.75 % $,93
Mileage $12.32
TOTAL DUE $2,225.65
Payment due within 30 days of receipt of invoice Thank You.
Payable to: Architectural Consortium LLC
901 North Third Street, Suite 220
Minneapolis, MN 55401
Attn: Kathy Anderson
INVOICE
Westwood
June 17, 2011
McComb Group, Ltd, Project No:
Attn: James B. McComb
Invoice No:
222 South Ninth Street, Ste.#380
Minneapolis, MN 55438
rroressionai services TEAM Mav o1, 201 1 to May 28, 2011
Project McComb Group/Monticello/Downtown Revitalization Plan
For Professional Services provided per our agreement.
Task 2020 Project Management & Coordination
Task 2520 Traffic Issues Analysis
Service Hours Rendered
3.00
Service Hours Rendered
9.00
Task 2560 Transportation Alternatives & Feasibliit
Thank you.
Service Hours Rendered
34.50
Westwood Professloeal SerAces
7699 Anagram Drive
Eden Prairie, MN 55344
s,ArN 952.937-5150
FAX 952.937.5822
r OLL FREE 1-888.437-5150
EMAIL wps®westwoodps.mm
www.westwoodps.cam
20101228.00
1105375
Total this Task
Total this Task
Total this Task
Total Amount Due
Less Credit From Retainer
Amount
525.00
Amount
1,080.00
Amount
4,662.50
$525.00
$1,080.00
$4,662.50
$6,267.50
-4,141.67
Total this Invoice $2,126.831
✓� E
4
g& =;4 -
Miles Lindberg
E S TA D L I S Ii E D IN 1972 ARIZONA COLORADO MINNESOTA KANSAS OREGON 7EUS
Interest will accrue at 1.25% per month on Invoices over 30 days
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
Tax ID No. 41-1225694
April 8, 2011
Statement No. 101585
City of Monticello
Accounts Payable
505 Walnut Avenue, Suite 1
Monticello, MN 55362
Through March 31, 2011
MN190-00001 General
I declare, under penalty of law, that this
account, claim or demand is just and correct
and that n rt o's b n paid.
14 v
Signature of Ci imant
w
F JUL i 2011
t _
516.00
Total Current Billing: 516.00
Page; 1
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
City of Monticello
March 31, 2011
MN190-00001 General
Through March 31, 2011
For All Legal Services As Follows:
Hours
Amount
7/14/2010 MNI
Review new bond presale report; email communication
0.70
126.00
with B Kimmel regarding fees and schedule.
3/15/2011 SJB
Review IRS audit regarding 2005 bonds, draft response
1.00
210.00
3/15/2011 MNI
Review OR for Series 2005A bonds.
1.00
180.00
Total Services:
$
516.00
Total Services and Disbursements: $ 516.00
EHLERS 3060 Centre Pointe Drive
Roseville, MN 55113
(651) 697-8500
LEADERS IN PUBLIC FINANCE
Financial Advisory Services Invoice
Monticello Economic Development Authority
505 Walnut Avenue, Suite 1
Monticello, MN 55362-8822
Invoice #: 343086
Invoice Date: July 8, 2011
Project: TIF District 1-22 Analysis
For financial advisory services provided to update performance and identify
any changes in the TIF district related to the above project.
Date Worked By Description of Services
06-01-2011 BKi Expand and edit TIF 1-22 analysis memo
06-09-2011 BKi Identify needed update to analysis
Hours
Amount
1.75
332.50
.25
47.50
2.00
$380.00
Amount Due This Invoice $380.00
U U L 2 2 2011
(Detach at perforation and return lower porllon to Ehlers)
Monticello Economic Development Authority, MN
Invoice #: 343086
Invoice Date: July 8, 2011
Amount Due This Invoice $380.00
Please remit payment to: Ehlers
Attn: Accounts Receivable Due Upon Receipt
3060 Centre Pointe Drive i
Roseville, MN 55113
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Check No.:
Vendor No,:
Payee:
CITY OF MONTICELLO
VOUCHER
❑ Recurring
❑ Manual
® Disb. Ck. Batch
❑ Needs Cril,
Pay by:
IMINOMM
, F •. ay'y ��` 4ri �,'S.�,'G: 3� .;'„�., 'sit ' c5�„ietliSu£ita'.�,...e
Statement/
Invoice No:
DISTRIBUTION OF EXPENSE
Acct. No.
Amount
Description
Proj ect
Code
-213-9-,1-72�� 10
7 0-
jul
Iz1171��'».:FCS'
TOTAL: $0.00_• EN°
RED
voucher.xis
Mississippi Shores Pay-as-you-go blalance
District: 19
Payment to; Presbyterian Homes
Original Amount
332,139.00
Interest Rate
8.000%
Payments Commence
8/1/97
Ending no Later Than
2/1/12
Available TIF
90.00%
Increment
Total
Balance
Date Received
Principal
Interest
Payment
Remaining
8/22/1997
-14,781.00
2,494.00
-12,287.00
346,920.00
1/22/1998
-10,678.00
2,479.00
-8,199.00
357,598.00
7/29/1998
-827.00
11,929.00
11,102.00
358,425.00
1/29/1999
11,925.00
11,925.00
358,425.00
7/2211999
1,327.00
12,781.00
14,108.00
357,098.00
1/20/2000
14,105.00
14,105.00
357, 098.00
7/28/2000
2,791.00
11,313.00
14,104.00
354,307.00
1/11/2001
1,786.00
13,121.00
14, 907.00
352, 521.00
7/26/2001
5,256.00
12,061.00
17,317.00
347,265.00
1/15/2002
4,474.00
12,839.00
17,313.00
342,791.00
7/16/2002
1,975.00
11,735.00
13,710.00
340,816.00
1/14/2003
1,112.00
12,581.00
13,693.00
339,704.00
7/24/2003
439.00
11,633.00
12,072.00
339,265.00
1/23/2004
12,069.00
12,069.00
339,265.00
7/22/2004
-1,482.00
10,623.00
9,141.00
340,747.00
1/20/2005
10,623.00
10,623.00
340,747.00
7/21/2005
-2,398.00
11,315.00
8,917.00
343,145.00
1/19/2006
-912.00
11,315.00
10,403.00
344,057.00
7/20/2006
1,579.00
12,260.00
13,839.00
342,478.00
1/18/2007
1,385.00
12,455.00
13,840.00
341,093.00
7/19/2007
6,472.00
8,287.00
14,759.00
334,621.00
1/28/2008
2,650.00
12,141.00
14, 791.00
331, 971.00
811/2008
3,176.00
13,132.00
16,308.00
328,795.00
8/1/2009 16,645.84
1,829.46
13,151.80
14,981.26
326,965.54
1/1/2010 16,645.84
1,902.63
13,078.62
14,981.26
325,062.91
8/1/2010 16,228.57
1,603.20
13,002.52
14,605.71
323,459.71
111/2011 16,228.58
1,667.33
12,938.39
14,605.72
321,792,38
8/1/2011 16,343.56
1,837.51
12,871.70
14,709.20
319,954.87
1/1/2012 16,343.56
1,911.01
12,798.19
14,709.20
318,043.86
8/1/2012 16,343.56
1,987.45
12,721.75
14,709.20
316,056.41
1/1/2013 16,343.56
2,066.95
12,642.26
14,709.20
313,989.46
Total 18,149.54 358,421.23 376,570.76
Check No.:
Vendor No.:
Payee:
CITY OF MONTICELLO
VOUCHER
0 Recurring
❑ Manual
Disb. Ck. Batch
El Needs CC oval
Pay by:
V,
N
Acct. No.
Amount
Description
Project
Code
;;kMV��D—W-710
fe/W3
M4 -A-A, -11/0- A
2)3.,x —YKS-110
3
� / 7 -'/, &Z 7
TOTAL: $0.00
voucher.x1s
Prairie West Pay-as-you-go blalance
District: 20
Payment to: Linda Smith
Original Amount
65,000.00
Interest Mate
8.500%
Payments Commence
811/99
Ending no Later Than
8/1/18
Avaialbe TIF
40.00%
Increment
Total
Balance
Date Received
Principal
Interest
Payment
Remaining
12/31/1998
-6,602.00
-6,602.00
71,602.00
12/31/1999
-6,216.00
-6,216.00
77,818.00
7128/2000
-3,902.00
2,853.00
-1,049.00
81,720.00
1/11/2001
1,637.00
1,637.00
81,720.00
7/2612001
-1,981.00
3,406.00
1,425.00
83,701.00
1/15/2002
2,039.00
2,039.00
83,701.00
7/1612002
-2,236.00
2,904.00
668.00
85,937.00
1/14/2003
284.00
2,030.00
2,314.00
85,653.00
7/2412003
-1,338.00
3,993.00
2,655.00
86,991.00
1/2312004
418.00
2,569.00
2,987.00
86,573.00
7/2212004
-710.00
4,145.00
3,435.00
87,283.00
1/20/2005
152.00
3,709.00
3,861.00
87,131.00
7/21/2005
190.00
3,704.00
3,894.00
86,941.00
1/19/2006
155.00
3,695.00
3,850.00
86,786.00
7/20/2006
1,597.00
3,688.00
5,285.00
85,189.00
1/18/2007
220.00
3,620.00
3,840.00
84,969.00
7/19/2007
757.00
3,611.00
4,366.00
84,212.00
1/28/2008
27.00
3,579.00
3,606.00
84,185.00
8/1/2008
922.00
3,856.00
4,778.00
83,263.00
1/9/2009 11,941.00
1,237.72
3,538.68
4,776.40
82,025.28
8/1/2009 11,967.96
1,301.11
3,486.07
4,787.18
80,724.17
1/1/2010 10,824.35
898.96
3,430.78
4,329.74
79,825.20
8/1/2010 11,994.18
1,405.10
3,392.57
4,797.67
78,420.10
1/1/2011 9,950.66
647.41
3,332.85
3,980.26
77,772.69
8/1/2011 10,435.67
868.93
3,305.34
4,174.27
76,903.77
1/1/2012 10,435.67
905.86
3,268.41
4,174.27
75,997.91
8/1/2012 10,435.67
944.36
3,229.91
4,174.27
75,053.55
1/1/2013 10,435.67
984.49
3,189.78
4,174.27
74,069.06
8/1/2013 10,435.67
1,026.33
3,147.94
4,174.27
73,042.73
1/1/2014 10,435.67
1,069.95
3,104.32
4,174.27
71,972.77
8/1/2014 10,435.67
1,115.43
3,058.84
4,174.27
70,857.35
1/1/2015 10,435.67
1,162.83
3,011.44
4,174.27
69,694.52
8/1/2015 10,435.67
1,212.25
2,962.02
4,174.27
68,482.27
1/1/2016 10,435.67
1,263.77
2,910.50
4,174.27
67,218.50
811/2016 10,435.67
1,317.48
2,856.79
4,174.27
65,901.01
1/1/2017 10,435.67
1,373.47
2,800.79
4,174.27
64,527.54
8/1/2017 10,435.67
1,431.85
2,742.42
4,174.27
63,095.69
1/1/2018 10,435.67
1,492.70
2,681.57
4,174.27
61,602.99
8/1/2018 10,435.67
1,556.14
2,618.13
4,174.27
60,046.85
Total 4,953.15 117,107.13 122,060.28
Check No.:
Vendor No,:
CITY OF MONTICELLO
VOUCHER
❑ Recurring
❑ Manual
❑ Needs CC Approval
Pay by:
® Disb. Ck. Batch
payee:
RaW<�c3 r`
rig
y
DISTRIBUTION OF EXPENSE
Acct, No.
Amount
Description
Proj ect
Code
1/ —W .c
/4 773 c 0
ell V
JUL 22 2011
AW -12 7
TOTAL: $0.00
voucher.xls
St Bens Pay-as-you-go
District: 24
Payment to: St. Cloud Hospital
Original Amount
440,000.00
Interest Rate
8.000%
Payments Commence
8/1/01
Ending on Later Than
2/1126
Available TIP
90.000%
Total 463,597.00 319,611.23 783,208.23
Increment
Total
Balance
Date
Received
Principal
Interest
Payment
Remaining
7/26/2001
23,597.00
17,433.00
41,030.00
440,000.00
1/1512002
24,374.00
16,656.00
41,030.00
415,626.00
7/2512002
16,772.00
15,521.00
32,293.00
398,854,00
1114/2003
17,283.00
15,010.00
32,293.00
381,571.00
7/24/2003
13,919.00
14,351.00
28,270.00
367,652.00
1/23/2004
14,508.00
13,762.00
28,270.00
353,144.00
7/22/2004
(73.00)
11,083.00
11,010.00
353,217.00
12/3112005
5,140.00
13,185.00
18,325.00
348,077.00
1/19/2006
0.00
3,665.00
3,665.00
348,077.00
7/2012006
8,609.00
12,979.00
21,588.00
339,468.00
12131/2006
5,355.00
12,635.00
17,990.00
334,113.00
1/18/2007
21,588.00
13,365.00
34,953.00
312,525.00
7/19/2007
8,635.00
12,421.00
21,056.00
303,890.00
7/31/2007
8,900.00
12,156.00
21,056.00
294,990.00
1/2812008
9,255.00
11, 800.00
21,055.00
285, 735.00
8/1/2008
11,409.00
11,151.00
22,560.00
274,326.00
1/1/2009
25,067.00
11,587.26
10,973.04
22,560.30
262,738.74
8/112009
26,930.11
13,727.55
10,509.55
24,237.10
249,011.19
111/2010
26,930.11
14,276.65
9,960.45
24,237.10
234,734.54
8/1/2010
24,078.90
12,281.63
9,389.38
21,671.01
222,452.91
1/1/2011
24,078.91
12,772.90
8,898.12
21,671.02
209,680.01
8/1/2011
23,511.43
12,773.09
8,387.20
21,160.29
196,906.92
111/2012
23,511.43
13,284.01
7,876.28
21,160.29
183,622.91
8/1/2012
23,511.43
13,815.37
7,344.92
21,160.29
169,807.54
1/1/2013
23,511.43
14,367.99
6,792.30
21,160.29
155,439.56
8/1/2013
23,511.43
14,942.70
6,217.58
21,160.29
140,496.85
1/1/2014
23,511.43
15,540.41
5,619.87
21,160.29
124,956.44
8/1/2014
23,511.43
16,162.03
4,998.26
21,160.29
108,794.41
1/112015
23,511.43
.16,808.51
4,351.78
21,160.29
91,985.90
8/112015
23,511.43
17,480.85
3,679.44
21,160.29
74,505.05
1/1/2016
23,511.43
18,180.09
2,980.20
21,160.29
56,324.96
8/1/2016
23,511.43
18,907.29
2,253.00
21,160.29
37,417.67
1/1/2017
23,511.43
19,663.58
1,496.71
21,160.29
17,754.09
8/1/2017
23,511.43
17,754.09
710.16
18,464.26
0.00
Total 463,597.00 319,611.23 783,208.23
Check No.:
Vendor No.:
Payee:
CITY OF MONTICELLO
VOUCHER
❑ Recurring
❑ Manual
❑ Needs CC Approval
Pay by:
® Disb, Ck. Batch
_ .���JJJ I.`�;�rh�'��nFr:.i-�.���,'r`p�.`Y��$''•.«v�i�i. �.. •:-� R.,�;;,,.� �>.,.
, f �9>i i Y�N�t7'4y�i ,•� � .�]-'. �• � i r5 �i�. � f ��� 4 c ,� z !N
1 z.:"H�..<E':...-�z:,.Tt�r flt4:::s:.t�!,.'�`f,.,:�.i,_.'::!i'w:A`e:•ia{,C-1:::tih5�✓i riasc-�w.`'�ry!��
Acct. No.
Amount
Description
Project
Code
2 2(11
TOTAL: $0.00
voucher.xls
Front Porch Assoc. Pay-as-you-go
District: 29
Payment to: Front Porch Associates LTD./Michael Cyr
Original Amount
220,000.00
Interest Rate
7.250%
Payments Commence
811/04
Ending on Later Than
211/20
Available TIF
80.000%
Increment
Total
Balance
Date
Received
Principal
Interest
Payment
Remaining
7/22/2004
(4,110.00)
3,865.00
(245.00)
224,110.00
1/20/2005
(5,734.00)
2,390.00
(3,344.00)
229,844.00
7/21/2005
1,052.00
8,332.00
9,384.00
228,792.00
1/19/2006
(1,362.00)
6,932.00
5,570.00
230,154.00
7/20/2006
3,614.00
8,343.00
11,957.00
226,540.00
1/18/2007
2,688.00
8,212.00
10,900.00
223,852.00
7119/2007
5,240.00
8,115.00
13,355.00
218,612.00
1/28/2008
1,452.00
7,925.00
9,377.00
217,160.00
8/112008
3,629.00
7,872.00
11, 501.00
213, 531.00
1/1/2009
18,949.00
7,418.70
7,740.50
15,159.20
206,112.30
8/1/2009
15,390.35
4,840.71
7,471.57
12,312.28
201,271.59
1/1/2010
14,460.64
4,272.42
7,296.10
11,568.51
196,999.17
8/1/2010
13,081.79
3,324.21
7,141.22
10,465.43
193,674.96
1/1/2011
13,081.74
3,444.67
7,020.72
10,465.39
190,230.29
8/1/2011
12,064.21
2,755.52
6,895,85
9,651.37
187,474.77
1/1/2012
12,064.21
2,855.41
6,795.96
9,651.37
184,619.36
8/1/2012
12,064.21
2,958.92
6,692.45
9,651.37
181,660.44
1/1/2013
12,064.21
3,066.18
6,585.19
9,651.37
178,594.26
8/1/2013
12,064.21
3,177.33
6,474.04
9,651.37
175,416.94
1/1/2014
12,064.21
3,292.50
6,358.86
9,651.37
172,124.44
8/1/2014
12,064.21
3,411.86
6,239.51
9,651.37
168,712.58
1/1/2015
12,064.21
3,535.54
6,115.83
9,651.37
165,177.04
8/1/2015
12,064.21
3,663.70
5,987.67
9,651.37
161,513.34
1/1/2016
12,064,21
3,796.51
5,854.86
9,651.37
157,716.83
8/1/2016
12,064.21
3,934.13
5,717.24
9,651.37
153,782.70
111/2017
12,064.21
4,076.75
5,574.62
9,651.37
149,705.95
8/1/2017
12,064.21
4,224.53
5,426.84
9,651.37
145,481.43
1/1/2018
12,064.21
4,377.67
5,273.70
9,651.37
141,103.76
8/112018
12,064.21
4,536.36
5,115.01
9,651.37
136,567.40
1/1/2019
12,064.21
4,700.80
4,950.57
9,651.37
131,866.60
Total 88,133.40 194,714.31 282, 847.70
Check No.:
Vendor No.:
Payee: .-
CITY OF MONTICELLO
VOUCHER
❑ Needs CC Approval
Pay by:
Statement/
Invoice No:
DISTRIBUTION OF EXPENSE
37
TOTAL: $0,00
voucher.xfs
U. M. C. Pay-as-you-go blalance
District: 31
Payment to: UMC Real Estate LLC.
Original Amount
395,000.00
Interest Rate
7.250%
Payments Commence
8/1104
Ending no Later Than
2/1/13
Avaialbe TIF
90.00%
Increment
Total
Balance
Date Received
Principal
Interest
Payment
Remaining
7/22/2004
700.00
700.00
395,000.00
1/20/2005
700.00
700.00
395,000.00
7/21/2005
23,047.00
14,319.00
37,366.00
371,953.00
1/19/2006
23,882.00
13,483.00
37,365.00
348,071.00
7/20/2006
21,582.00
12,618.00
34,200.00
326,489.00
1/18/2007
22,364.00
11,835.00
34,199.00
304,125.00
7/19/2007
21,723.00
11,025.00
32,748.00
282,402.00
1/28/2008
22,511.00
10,237.00
32,748,00
259,891.00
8/1/2008
26,393.00
9,421.00
35,814.00
233,498.00
1/9/2009 39,793.00
27,349.40
8,464.30
35,813.70
206,148.60
8/1/2009 39,996.77
28,524.21
7,472.89
35,997.09
177,624.40
1/1/2010 39,996.77
29,558.21
6,438.88
35,997.09
148,066.19
8/1/2010 39,703.48
30,365.73
5,367.40
35,733.13
117,700.46
1/1/2011 39,703.48
31,466.49
4,266.64
35,733.13
86,233.96
8/1/2011 41,140.01
33,900.03
3,125.98
37,026.01
52,333.94
1/1/2012 41,140.01
35,128.90
1,897.11
37,026.01
17,205.03
8/1/2012 41,140.01
17,205.03
623.68
37,026.01
0.00
Total 395,000.00 121,994.88 536,192.18
CITY OF MONTICELLO
VOUCHER
Check No.: ❑ Recurring ❑ Needs CC Approval
Vendor No.: ❑ Manual Pay by:
® Disb. Ck, Batch
..:....::..::::.
Payee:
r
.,. .rte,_ r•�^. ,.r:::,y.-,.�. ....y ..
�'7 . k. a�.t .l•_.:,. fir..
..... _.. .:. �..... �.. ...... . ...... ... � .'.:...'.�::�:� ..i ��. � i -,e "fj?S X'"trT'tr`,.iri : •r_£ 1
{ice
c r -
la
.. . , :. :..... .. �.�.,v&tL.t..,.r�.S.:Y,.:Y,.....,sS:a,�.,....a...�_...,..:.•�'.i��..:'6�i�'�
Statement/
Invoice No:
DISTRIBUTION OF EXPENSE
TOTAL: $0.00
voucherAs
Landmark Square Phas( Pay-as-you-go blalance
District: 22.5
Payment to: Master's Fifth Avenue
Original Amount 185,000.00
Interest Rate 8.000% ��
Payments Commence 8/1/03
Ending no Later Than 2/1/23 %d—
Avaialbe TIF 90.00%
PID 155.010.036130 & 155.010.036140 N %�
Increment Total Balance
Date Received Principal Interest Payment Remaining %1
811/2003 0.00 185,000.00
1/1/2004 0.00 165,000.00
8/1/2004 3,085.00 3,085.00 185,000.00
1/1/2005 3,084.00 3,084.00 185,000.00
8/1/2005 6,393.00 6,393.00 165,000.00
1/1/2006 6,393.00 6,393.00 185,000.00 ,
81112006 6,830.00 6,830.00 185,000.00
1/1/2007' 6,830.00 6,830.00 185,000.00
8/1/2007 90.00 7,400.00 7,490.00 184,910.00
1/28/2008 94.00 7,396.00 7,490.00 184,816.00
8/1/2008 5,106.00 5,106.00 184,816.00
1/9/2009 6,332.00 5,698.80 5,698.80 164,816.00
8/1/2009 6,304.90 5,674.41 5,674.41 184,816.00
1/1/2010 6,304.90 5,674.41 5,674.41 164,816.00
8/1/2010 6,266.02 5,639.42 5,639.42 184,816.00
1/1/2011 6,266.02. 5,639.42 5,639.42 184,816.00
8/1/2011 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2012 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2012 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2013 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2013 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2014 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2014 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2015 5,668.11 5,101.30 5,101.30 164,816.00
8/1/2015 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2016 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2016 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2017 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2017 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2018 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2018 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2019 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2019 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2020 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2020 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2021 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2021 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2022 5,668.11 5,101.30 5,101.30 184,816.00
8/1/2022 5,668.11 5,101.30 5,101.30 184,816.00
1/1/2023 5,668.11 5,101.30 5,101.30 184,816.00
Total 94.00 163,259.63 163, 353.63
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CAMPBELL KNUTSON
Professional Association
Attorneys at Law
Federal Tax I.D. #41-1562130
317 Eagandale Office Center
1380 Corporate Center Curve
Eagan, Minnesota 55121
(651) 452-5000
City of Monticello
City Hall
505 Walnut Street
Monticello MN 55362
RE: ADMINISTRATION
SERVICES RENDERED TO DATE:
05/02/2011
AMP Planning - Review emails from Angela; draft summary
ordinance; email to Angela.
JJJ Emails with Angela and Cathy re: adult use ordinance,
summary, publication.
JJJ Emails with Bruce re: garbage enclosure, license to use.
05/03/2011
JJJ Emails with Bruce re: garbage corral, easement vacation,
releaselwaiver, NSP/Xcel road easement/county realignment
project.
05/0412011
SMM Telephone call property owner re: property maintenance
letter.
JJJ Emails with Bruce re: Cty. 75,
JJJ Emails with Angela re: estoppel certificate,
JJJ Telephone calls with Jeff and Glen.
05/05/2011
SRN Review email re: easements for sanitary sewer interceptor
line along 1-94.
05/06/2011
JJJ Telephone calls with Jeff, etc. re: EDA land purchase.
JJJ Telephone call and voice mails with Jeff re: Council meeting,
'I
JUN 1. 0 1011 i
Page: 1
May 31, 2011
count # 2348-OOOG
106
HOURS
1.00 140.00
0.50 70.00
0.50 70.00
1.00 140.00
0.30
42.00
0.30
42.00
0.50
70.00
1.00
140.00
0.20 15.00
1.00 140.00
Page: 2
City of Monticello May 31, 2011
Account # 2348-OOOG
RE. ADMINISTRATION 106
SERVICES RENDERED TO DATE:
x"
HOURS
personnel. 0.40 6.00
JJJ Emails with Bruce re: dumpster enclosure license,
follow-ups. 1.30 182.00
05/09/2011
SRN
Review email re: sanitary sewer interceptor line along 1-94;
research; office conference.
0.30 22.50
JJJ
Emails with Kerry re: schedule; telephone call with Jeff re:
Council meeting (2nd call re: EDA, etc.)
0.50 70.00
05/10/2011
JJJ
Emails with Cathy; telephone call with Jeff re: Council
meeting, minutes revision requested by Tom P., EDA
property matter, cable franchise.
1.00 140.00
05/16/2011
JJJ
Emails with Kerry re: schedule; emails with Deb re: zoning
violation notice for signs in ROW or on public property.
0.60 84.00
JJJ
Emails with Angela re: Carlisle Village and Sunset Ponds
PUDs; review and respond.
1.40 196.00
05/17/2011
JJJ
Follow-ups with Angela re: Carlisle Village/Sunset Ponds.
1.00 140.00
05/19/2011
SRN
Office conference; research; draft template Assignment of
Development Contract; office conference; edit Assignment
and email to Angel Schumann.
0.80 60.00
JJJ
Emails from and to Angela re: reduced SACIWAC for PUBs;
follow-ups.
0.50 70.00
JJJ
Review personnel/council matter.
0.50 70.00
05/20/2011
SRN
Email from Angela Schumann re: assignment of
development contract template.
0.20 15.00
JJJ
Telephone call with Jeff and follow-ups re: City Council
meeting, schedule.
0.50 70.00
05/23/2011
JJJ
Review City Council agenda and materials; telephone all and
Page: 3
City of Monticello May 31, 2011
Account # 2348-000G
106
RE: ADMINISTRATION
SERVICES RENDERED TO DATE:
HOURS r
emails with Angela. 1.00 140.0
JJJ Meeting with Ron re: hazardous buildings/process issues,
grass cutting, etc. 0.40 56.00
JJJ Emails with Jeff re: Council agenda items. 0.30 42.00
JJJ Attend City Council meeting. 3.50 490.00
05/24/2011
JJJ Review City Council actions; follow-ups, 1.00 140.00
JJJ Emails with Jeff re: LMCIT payment. 0.20 28.00
05/26/2011
JJJ Emails with Jeff re: OML, committees of council. 0.50 70.00
05/31/2011
JJJ Review weekly schedule. 0.20 28.00
JJJ Telephone call with Angela re: street vacation, final plat
approval: timing. 0.20 28.00
JJJ Emails with Angela re: mortgage consent. 0.20 28.00
AMOUNT DUE 22.80 3,094.50
05/31/2011 Westlaw Research Charges - May. 94.51
TOTAL DISBURSEMENTS 94.51
TOTAL CURRENT WORK 3,189.01
PREVIOUS BALANCE $2,530.50
05/25/2011 Payment - thank you -2,530.50
TOTAL AMOUNT DUE $3,189.01
Amounts due over 30 days will be subject to a finance charge of
5% per month (or an annual rate of 6%). Minimum charge - 50 cents.
EHLERS
LEADERS IN PUBLIC FINANCE
Financial Advisory Services Invoice
Monticello Economic Development Authority
505 Walnut Avenue, Suite 1
Monticello, MN 55362-8822
Project: Mielke Landmark Development Analysis 2011
3060 Centre Pointe Drive
Roseville, MN 55113
(651) 697-8500
COP7V�*
Invoice #: 342901
Invoice Date: June 10, 2011
For financial advisory services provided to assist in analysis of developer
proposals and selection of a developer.
Date Worked By Description of Services
05-02-2011
BKi
Email with megan, martha
05-05-2011
BKi
Evaluate info needed, schedule mtg 5/9
05-09-2011
BKi
Prep for and attend mielke mtg at city, plus 1/2 travel
05-10-2011
BKi
Analyze information and build development budget
05-11-2011
BKi
Analyze information and build developer proforma
0.5-13-2011.
BKi ..
Review new mielke materials (requested at 5/9 mtg)
" • : 05.--16-2011
BKi .
`.Cprr.Olete review of new material, discuss with city
05-17-201`1
BKi ..--
Email exchanges with city re gap analysis alternatives
UL
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to tifpooling
- 7 2011
Hours. Amount
.25
47.50
.50
95.00
2.25
427.50
1.75
332.50
1.25
237.50
.50
95.00
.50
95.00
.50
95.00
7.50 $1,425.00
Amount Due This Invoice $1,425.00
,Oust
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Monticello Economic Development Authority, MN
Invoice #: 342901
Invoice Date: June 10, 2011
Amount Due This Invoice $1,425.00
Please remit payment to: Ehlers
Attn: Accounts Receivable Due Upon Receipt
3060 Centre Pointe Drive
Roseville, MN 55113
XONTUrzELLO TIDIES
10997 VALLEY VIEW ROAD
EDEN PRAIRIE MN 55344
(952) 392-6890
Fax(763)295-3080
Advertising Invoice and Statement
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06/2011
ITY OF MONTICELLO
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1.33 MEGAN. 133
CITY OF MONTICELLO
ATTN: ACCOUNTS PAYABLE
505 WALNUT ST STE 1
MONTICELLO MN 55362
"In the Community. With the Community. For the community.-
moi!
Amount Paid:
Comments:
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UNPAID
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MONTICELLO TIMES
(952) 392-6890
" UNAPPLIED AMOUNTS ARE INCLUDED IN TOTAL AMOUNT DUE
2:ff.dMIfiRMi1111 IS - -
1324655 06/2011 133 133 CITY OF MONTICELLO
5375 Sunset Lane, Independence
Stately 2 story home on Lake Sarah fea-
tures a sunken living room, main floor fam-
ily room with fireplace, formal dining
room, master bedroom with private bath
& lakeviews, new carpet and freshly paint-
ed plus 100' of hard bottom lakeshore,
lakeside deck & patio, boulder retaining
walls&mature trees! faspCommute -just
BETTER HEARING..,
+GUI�RANTEEW
Your full setwe' hearing .center offering:
Free No Obllgation Evaluagon§ .:AiF`rypes.oi Instiumernt Repairs
The Newest State -Of TheArV ftital Hearing Instruments
CALK TOI>pl! N 11j6Olt:,'irC}6h FI;EE EXAM
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HEAR1TER
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Monticello MN cert1p d Hearing
-°" 763-271.4000 P f s'lo al
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Mortgage
DATE s
THE
June 28, 2011. 4:00pm - 6:00pin
Certi
Monticello Community Center
You've seen the preliminary design concepts, now it is time
to start talking about how we work together to make redevel-
opment and revitalization a reality in downtown Monticello.:
Your input and feedback is critical to the success and imple-
mentation of downtown. Together, we can create a vibrant
downtown.
.Don't miss this critical meeting:
* Review preferred design concept, including transportation
& pedestrian movement
Discuss preliminary implementation strategies `
,Please RSVP to Megan Barnett Livgardj"`L
at 763-271-3208 or
Megan.Barnett@ci.monticello.mn.us
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Bill To:
City of Monticello
Attn: Megan Barnett
505 Walnut St W
Monticello MN 55362
The MNCAR Exchange
6800 France Avenue, Suite 760 • Edina, MN 55435
Phone: 952-908-1780 Fax: 952-908-1799
"The Conzn:emial Property Database"
Amount Paid $
3rd Quarter Exchange Fees
OLM-QTR-PP
First User - MNCAR Member
1 $225.00 $225.00
JUL -8 2011
I' rSib`fpta"'' `T' $225.00
$0.00
$225.00
The Board of Directors of the MNCAR Exchange has implemented a policy regarding late payments, Any subscriber who is 60 days
post due with their payment will be cut off from the MNCAR Exchange database and will be required to pay a $100 reinstatement fee
to rejoin,
NOTE: IF PAYING BY CREDIT CARD, AN ADDITIONAL 3% WILL BE ADDED FOR CREDIT CARD PROCESSING.
CREDIT CARD NUMBER 517269
EXPIRATION DATE
SIGNATURE
INVOICE TOTAL TO BE CHARGED PLUS 3% CREDIT CARD FEE
517269
.711/2011
t ;Y .t•
502211229
,,OyAnnr7iais?k'°
Due Upon Receipt
Amount Paid $
3rd Quarter Exchange Fees
OLM-QTR-PP
First User - MNCAR Member
1 $225.00 $225.00
JUL -8 2011
I' rSib`fpta"'' `T' $225.00
$0.00
$225.00
The Board of Directors of the MNCAR Exchange has implemented a policy regarding late payments, Any subscriber who is 60 days
post due with their payment will be cut off from the MNCAR Exchange database and will be required to pay a $100 reinstatement fee
to rejoin,
NOTE: IF PAYING BY CREDIT CARD, AN ADDITIONAL 3% WILL BE ADDED FOR CREDIT CARD PROCESSING.
CREDIT CARD NUMBER 517269
EXPIRATION DATE
SIGNATURE
INVOICE TOTAL TO BE CHARGED PLUS 3% CREDIT CARD FEE
laiwvnmw
JWMW
EHLERS
MW LEADERS IN PUBLIC FINANCE
Financial Advisory Services Invoice
Monticello Economic Development Authority
505 Walnut Avenue, Suite 1
Monticello, MN 55362-8822
Project: TIF District 1-22 Analysis
3060 Centre Pointe Drive
Roseville, MN 55113
(651) 697-8500
Invoice #:
Invoice Date:
342902
June 10, 2011
For financial advisory services provided to update performance and identify
any changes in the TIF district related to the above project.
Date Worked By Description of Services Flours Amount
05-27-2011 BKi Review past analysis, new information 1.25 237.50
05-31-2011 BKi Review information and prepare draft report for City 3.50 665.00
4.75 $902.50
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bu VIP -
(Detach at perforation and return lower portion to Ehlers)
Amount Due This Invoice $902.50
Monticello Economic Development Authority, MN
`akht��,�
Invoice #: 342902
Invoice Date: June 10, 2011
Amount Due This Invoice $902.50
Please remit payment to: Ehlers
Attn: Accounts Receivable Due Upon Receipt
3060 Centre Pointe drive
Roseville, MN 55113
EDA: 08/15/11
5. PUBLIC HEARING. CONSIDERATION OF ADOPTING RESOLUTION #2011 -73
AND #2011 -74 APPROVING A PURCHASE AND REDEVELOPMENT CONTRACT
BETWEEN THE EDA AND SUBURBAN MANUFACTURING, THE BUSINESS
SUBSIDY AGREEMENT, THE CONVEYANCE OF LAND, AND AN INTERFUND
LOAN. (MBL)
A. REFERENCE AND BACKGROUND:
The public hearing is associated with the modification of the Redevelopment Plan of the
Central Monticello Redevelopment Project No. 1 and establishment of TIF District No. 1 -39
and approval of the TIF Plan. TIF District No. 1 -39 will be created as an Economic
Development District to assist in the write -down of land and infrastructure costs to Suburban
Manufacturing. Suburban Manufacturing is a local manufacturing company providing
solutions in areas such as hydraulics, lubrication, fluid mechanics, and pneumatics. Their
current facility is located at 301 Chelsea Road.
Suburban is experiencing tremendous growth and has determined it is time to expand their
current facility. They are proposing to construct a 39,000 square foot office, machining, and
warehouse facility in the Monticello Business Center. The proposed project will bring 12 —
14 new full -time permanent jobs to Monticello. They would like to subdivide Outlet C of
Otter Creek and situate the building adjacent to Chelsea Road and Dalton Avenue.
The proposed interfund loan will assist in writing down the purchase price of from $2.41 to
.65 per square foot. The cost of the property will include tnmk storm fees. The Developer
will be required to pay trunk sanitary and trunk water fees at time of closing.
B. ALTERNATIVE ACTIONS:
1. Motion to adopt Resolution #2011 -73 approving the purchase and redevelopment
contract between the City of Monticello Economic Development Authority and
Suburban Manufacturing Inc. AND the Business Subsidy Agreement AND
Conveyance of Land.
2. Motion to adopt Resolution #2011 -74 authorizing an Interfund Loan for advance of
certain costs in connection with Tax Increment Financing District 1 -39.
3. Motion to deny approving Resolution 2011 -73.
4. Motion to deny approving Resolution 2011 -74
4. Motion to table the item for further research and discussion.
EDA: 08/15/11
C. STAFF RECOMMENDATION:
City staff recommends approval. Suburban Manufacturing is a local company looking to
expand. The proposed interfund loan and subsidy meets the EDA's Business Subsidy
guidelines and is very similar to past transactions.
D. SUPPORTING DATA:
1. Resolution #2011 -73
2. Resolution #2011 -74
3. Draft Purchase and Redevelopment Contract (email a copy on Monday)
4. Proposed site plan and building elevations
2
CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO .2011 -73
RESOLUTION APPROVING THE PURCHASE AND REDEVELOPMENT CONTRACT
BETWEEN THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT
AUTHORITY AND SUBURBAN MANUFACTURING INC. AND
THE BUSINESS SUBSIDY AGREEMENT AND CONVEYANCE OF LAND
PROVISIONS CONTAINED THEREIN
BE IT RESOLVED by the Board of Commissioners ( "Board ") of the City of Monticello
Economic Development Authority ( "Authority ") as follows:
Section 1. Recitals.
1.01. The Authority currently administers Central Monticello Redevelopment Project
No. 1 (the "Project "); and on the date hereof recommends approval by the City of the creation of
Tax Increment Financing District No. 1 -39 (the "TIF District ") within the Project, all pursuant to
Minnesota Statutes, Sections 469.090 to 469.1082 and Sections 469.174 to 469.1799, as
amended.
1.02. To facilitate redevelopment of certain property in the TIF District, the Authority
proposes to enter into a Purchase and Redevelopment Contract (the "Contract ") between the
Authority and Suburban Manufacturing Inc. or a related entity (the "Redeveloper "), under which
among other things the City will convey to the Authority, and the Authority will reconvey to
Redeveloper, certain property described as a portion of Outlet C, Otter Creek Crossing 2 "d
Addition (the "Redevelopment Property") at a cost below market value.
1.03. The assistance under the Contract constitutes a "business subsidy" exceeding
$150,000 within the meaning of Minnesota Statutes, Section 116J.993 to 116J.995 (the
"Business Subsidy Act ").
1.04. The "business subsidy agreement" as required under the Business Subsidy Act is
included as one section of the Contract, and the Authority has on this date conducted a duly
noticed public hearing regarding both the sale of the Redevelopment Property to Redeveloper
and the business subsidy agreement, at which all interested persons were given an opportunity to
be heard.
1.05. On August 2, 2011, the planning commission of the City determined by resolution
that conveyance of the Redevelopment Property by the City to the Authority for reconveyance to
the Redeveloper complies with the City's comprehensive plan.
1.06. The Authority finds and determines that conveyance by the Authority of the
Redevelopment Property to the Redeveloper is for a public purpose and is in the public interest
because it will further the objectives of the Project.
390272v1 MNIMN190 -139
Section 2. Contract Approved; Further Proceedings.
2.01. The Board approves the Contract as presented to the Board, including the
business subsidy agreement and provisions for the conveyance of the Redevelopment Property
therein, subject to approval by the City Council of the establishment of the TIF District and
subject to modifications that do not alter the substance of the transaction and that are approved
by the President and Executive Director, provided that execution of the documents by those
officials shall be conclusive evidence of their approval.
2.02. Authority staff and officials are authorized to take all actions necessary to perform
the Authority's obligations under the Contract as a whole, including without limitation execution
of any deed or other documents necessary to convey the Redevelopment Property to
Redeveloper.
Approved by the Board of Commissioners of the City of Monticello Economic
Development Authority this 15th day of August, 2011.
President
ATTEST:
Secretary
390272YI MNIMN190 -139 2
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2011 -74
AUTHORIZING INTERFUND LOAN FOR
ADVANCE OF CERTAIN COSTS
IN CONNECTION WITH TAX INCREMENT
FINANCING DISTRICT NO. 1 -39
BE IT RESOLVED By the Board of Commissioners of the City of Monticello Economic
Development Authority (the "Authority ") as follows:
Section 1. Background.
1.01. The Authority has established tax increment financing district no. 1 -39 (the "TIF
District ") within the Central Monticello Redevelopment Project No. 1 (the "Redevelopment
Project ") pursuant to Minnesota Statutes, Sections 469.174 to 469.179 (the "TIF Act ") and
Sections 469.001 to 469.047 (the "HRA Act ").
1.02. The Authority may incur certain costs related to the TIT District, which costs may
be financed on a temporary basis from available Authority funds.
1.03. Under Section 469.178, Subdivision 7 of the TIF Act, the Authority is authorized
to advance or loan money from any fund from which such advances may be legally made in
order to finance expenditures that are eligible to be paid with tax increments under the TIF Act.
1.04. The Authority owns or will acquire certain property (the "Redevelopment
Property ") and has incurred or will incur certain costs to prepare such property for
redevelopment. The Authority has determined that the market price of the improved
Redevelopment Property is at least $461,910, or $2.41 per square foot.
1.05. The Authority proposes to enter into a Purchase and Redevelopment Contract (the
"Contract ") with Suburban Manufacturing, Inc. (the "Redeveloper "), under which the Authority
will (among other things) convey the Redevelopment Property to the Redeveloper for a purchase
price of $124,582, subject to Redeveloper's obligation to pay a portion of City trunk fees in the
amount of $37,856.
1.06. By conveying the Redevelopment Property under the Contract, at Closing the
Authority will forgo receipt the full market price of the Redevelopment Property. Such
forbearance represents an advance of Authority fiords in the amount of $299,472 (the write -down
in purchase price net of Redeveloper's trunk fee payment).
1.07. The Authority intends to designate such advances as an interfund loan in
accordance with the terms of this resolution and the TIF Act.
Section 2. Repayment of Interfund Loan.
2.01. The Authority will reimburse itself for the land advance in the principal amount
of $299,472, together with interest at the rate of 4% per annum (the "Interfund Loan "). Interest
390003v1 MNIMN190 -139
accrues on the principal amount from the date of Closing on conveyance of the Redevelopment
Property to the Redeveloper under the Development Agreement (hereafter, the "Closing Date ").
The interest rate is no more than the greatest of the rate specified under Minnesota Statutes,
Section 270.75 and Section 549.09, both in effect for calendar year 2011. The interest rate will,
without further action by the Authority, be adjusted on January I of each year to reflect the
greater of the rate specified under Minnesota Statutes, Section 270.75 and Section 549.09 in
effect for that calendar year.
2.02. Principal and interest ( "Payments ") on the Interfund Loan shall be paid semi-
annually on each August 1 and February 1 (each a "Payment Date "), commencing on the first
Payment Date on which the Authority has Available Tax Increment (defined below), or on any
other dates determined by the City Administrator, through the date of last receipt of tax
increment from the TIE District.
2.03. Payments on the Interfimd Loan will be made solely from Available Tax
Increment, defined as tax increment from the TIF District received by the Authority from Wright
County in the six -month period before any Payment Date, less any amounts determined by the
Authority to be applied toward administrative expenses in accordance with the TIF Act.
Payments shall be applied first to accrued interest, and then to unpaid principal. Interest
accruing from the Closing Date will be compounded semiannually on February I and August 1
of each year and added to principal until the first Payment Date, unless otherwise specified by
the City Administrator.
2.04. The principal sum and all accrued interest payable under this resolution is pre-
payable in whole or in part at any time by the Authority without premium or penalty.
2.05. This resolution is evidence of an internal borrowing by the Authority in
accordance with Section 469.178, subdivision 7 of the TIF Act, and is a limited obligation
payable solely from Available Tax Increment pledged to the payment hereof under this
resolution. The Interfimd Loan shall not be deemed to constitute a general obligation of the State
of Minnesota or any political subdivision thereof, including, without limitation, the Authority
and the City. Neither the State of Minnesota, nor any political subdivision thereof shall be
obligated to pay the principal of or interest on the Interfimd Loan or other costs incident hereto
except out of Available Tax Increment. The Authority shall have no obligation to pay any
principal amount of the Interfimd Loan or accrued interest thereon, which may remain unpaid
after the final Payment Date.
2.06. The Authority may at any time make a determination to forgive the outstanding
principal amount and accrued interest on the Interfimd Loan to the extent permissible under law.
2.07. The Authority may from time to time amend the terms of this Resolution to the
extent permitted by law, including without limitation amendment to the payment schedule and
the interest rate; provided that the interest rate may not be increased above the maximum
specified in Section 469.178. subd. 7 of the TIF Act.
Section 3. Effective Date. This resolution is effective upon execution in full of the
Contract.
2
390003v1 MNIMN190 -139
Adopted this 15th day of August, 2011.
President
ATTEST:
Executive Director
3
390003v1 MNI MN 190-139
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7. CONSIDERATION OF REQUESTING THE CITY COUNCIL CALL FOR A
PUBLIC HEARING TO AMEND THE BUDGET PLAN FOR TIF DISTRICT 1 -5.
(MBL)
A. REFERENCE AND BACI {GROUND:
The EDA authorized the purchase of Landmark II at their July meeting. The funding
source for the proposed purchase is through surplus TIF in District 1 -5. The district will
have a fund balance of approximately $489,490 at the end of the year. It should also be
noted that the district will expire at the end of 2011 and any fund balance will be required
to be returned to the County.
In order to utilize this funding source for the proposed purchase, the City is required to go
through the budget amendment process. Due to the fact the funds will be expended outside
of the district boundary lines. This will require the City Council hold a public hearing and
the EDA adopt an amended budget. The EDA and City Council have completed similar
TIF amendments in the past.
B. STAFF RECOMMENDATION:
City staff recommends the EDA request the City Council call for a public hearing to
consider amending the budget plan for TIF District 1 -5.
C. ALTERNATIVE ACTION:
1. Motion adopting Resolution #2011 — requesting the City Council call for a public
hearing on the proposed adoption of a modification to TIF District 1 -5.
2. Motion to deny requesting calling for a public hearing.
3. Motion to table action for further research.
D. ATTACHMENTS:
1. Resolution #2011 -
EDA 8.15.11
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO.
RESOLUTION REQUESTING THAT THE CITY COUNCIL OF THE CITY OF
MONTICELLO CALL FOR A PUBLIC HEARING ON THE PROPOSED
ADOPTION OF A MODIFICATION TO THE REDEVELOPMENT PLAN FOR
CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1 AND THE
PROPOSED MODIFICATION OF THE TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 1 -5.
BE IT RESOLVED, by the Board of Commissioners (the "Board ") of the City of Monticello
Economic Development Authority (the "Authority ") as follows:
WHEREAS, the Central Monticello Redevelopment Project No. 1 (the "Project') was
established pursuant to Minnesota Statutes, Sections 469.001 to 469.047, as amended, in an
effort to encourage the development and redevelopment of certain designated areas within the
City of Monticello; and
WHEREAS, the Authority is proposing a modification to the Redevelopment Plan for the
Project, and a modification to the Tax Increment Financing Plan for Tax Increment Finance
District No. 1 -5 (the "TIF District') within the Project (together, the "Modifications "), pursuant
to, and in accordance with, Minnesota Statutes, Sections 469.001 to 469.047, Sections 469.090 to
469.1081 and Sections 469.174 to 469.1799, as amended (the "Act ").
NOW, THEREFORE BE IT RESOLVED by the Board as follows:
1. The Authority hereby requests that the Council call for a public hearing to be held on
2011, to consider the proposed Modifications and cause notice of said public
hearing to be given as required by law.
2. The Authority directs the Executive Director to transmit copies of the Modifications to the
Planning Commission of the City and requests the Planning Commission's written opinion
indicating whether the proposed Modifications are in accordance with the Comprehensive
Plan of the City, prior to the date of the public hearing.
3. The Executive Director of the Authority is hereby directed to submit a copy of the
Modifications to the Council for its approval.
4. The Authority directs the Executive Director to transmit the Modifications to Wright County
and Independent School District No. 882 pursuant to the Act.
5. Staff and consultants are authorized and directed to take all steps necessary to prepare the
Modifications and related documents and to undertake other actions necessary to bring the
Modifications before the Council.
390354v1 MNTMN190 -101
Adopted by the Board of Commissioners of the City of Monticello Economic Development
Authority this 15th day of August, 2011.
President
ATTEST:
Secretary
390354v1 MNIMN190 -101
8. CONSIDERATION OF APPROVING INITIATIVES UTILZING SURPLUS TIF
FROM DISTRICT 1 -22. (MBL)
A. REFERENCE AND BACKGROUND:
The City Council and the EDA held a joint meeting on August 10, 2011. The policy bodies
were asked to consider authorizing negotiations to begin with key property owners within
downtown to assist in redevelopment opportunities and continue improving the
intersection of Highway 25 and 75. Staff also requested the EDA and City Council support
hosting developer forums in an attempt to generate interest in developing the garden center
property. Generating private development" interest is critical to maximizing utilizing of
surplus TIF funds in the next year.
B. STAFF RECOMMENDATION:
Due to a timing challenge, this staff report needed to be written prior to the joint EDA and
City Council meeting in order to get the EDA packet out in time. Staff recommendations
will coincide with the outcome of the joint meeting on August 10, 2011. However, in the
event the City Council and EDA agree to moving forward with purchasing key parcels
downtown, staff has asked Dan Wilson, a relocation specialist, to provide a letter outlining
his services and associated fees.
C. ALTERNATIVE ACTION:
1. Motion to approve engaging the services of Dan Wilson to assist in purchasing key
parcels in downtown Monticello.
2. Motion to approve initiating developer forums for the development of the garden center
property.
3. Motion to deny engaging the services of Dan Wilson.
4. Motion to table discussion on ways to utilize surplus TIF from district I -22 and direct
staff accordingly.
D. ATTACHMENTS:
1. Proposal from Dan Wilson
EDA 8.15.11
Megan Barnett
From: Dan Wilson [ mailto: danwilsonC alwilsondevelopmentservices .com1
Sent: Wednesday, August 10, 20111:49 PM
To: Megan Barnett
Subject: Montgomery Farms
Date: August 10, 2011
To: Megan Barnett
City of Monticello
From: Dan Wilson
Re: 100 Broadway East
Acquisition and Relocation Proposal
I am writing in response to our telephone conversation regarding the City's possible acquisition of the above parcel fora
road intersection and redevelopment project. The following is a brief proposal to provide the necessary real estate
acquisition and relocation assistance to successfully negotiate the purchase and displacement of the occupants in
compliance with applicable Federal and State regulations.
Project Understanding
The City is in the preliminary stages of planning a road intersection and redevelopment project at the intersection of
Highways 25 &75 in downtown Monticello. TIF funds would be the primary funding source.
It remains somewhat unclear to the actual occupants of the property. Apparently Lakeland Family Dentist and Dance
Studio are current occupants. The Pizza Factory and Nails have likely vacated as they have different addresses currently
in Monticello. It appears that at one time the property had multiple tenants and may very well have multiple vacant
spaces or unknown additional occupants.
The property at 112 Broadway is also a rental property with both commercial and residential tenants. This property is
not being purchased at this time. The City might expect the owners to suggest that all their holdings be purchased.
Appraisal Services
We will contact a real estate appraiser to provide an appraisal. I will discuss the appraiser selection with the City
attorney and City administrator for guidance in the selection.
The appraisal will bill the City directly. Appraisal Budget $3,500
Title
Preliminary title should be reviewed. Perhaps the City attorney has or will do that. We can provide 40 year owners and
encumbrance reports by a licensed abstractor for $150.
Final title is typically provided by title insurance policy.
Acquisition
All property owner contacts would be through our office for consistency.
1. Prepare field title report.
2. Discuss /process City Council authorization of offer (just compensation).
3. Prepare and present written offer.
4. Negotiate with owners or their representatives.
5. Prepare purchase agreement.
6. Prepare administrative settlement memo for Council review.
7. Coordinate closing through City attorney's office and or title company.
8. Maintain contact log and file for audit.
Relocation
We need to be a little flexible since the actual displacee list has yet to be finalized.
1. Contact displacees, provide assistance and explanation of rights, benefits and process.
2. Prepare and deliver all notices.
3. Make site referrals and other advisory services.
4. Process all claims with proper documentation and explanation for owner and city review.
5. Maintain contact log and file for audit.
6. Coordinate /communicate with City staff for status and cost of displacements.
Estimated Cost
Service
Name
Estimated Cost
Relocation
Primary Tenant 1
$4,500
Mileage
Sub tenant x
$2,500
.15/.30 each
Sub tenant x
$3,500
Approximate Relocation Estimate
$10,500
Acquisition
Montgomery Farms -100 E Broadway
$3,500
Wilson Development Services Maximum Not to Exceed
$14,000
Alternative O & E Report
$150
Alternative Appraisal
$3,500
2011 Charee Rates
Principal
$110.00
Associate
$95.00
Administrative
$75.00
Mileage
IRS Allowable
Copies
.15/.30 each
Postage, other
At Cost
All work will be provided on a time and material basis based upon the above charge rates up to the maximum not to
exceed amount.
Thank you for the opportunity to submit this proposal. I am available to meet at your convenience to discuss this
proposal and any questions or concerns you may have.
PM
Wilson Development Services, LLC
510 North Chestnut Street, Suite 200
Chaska, MN 55318
952- 448 -4630 or 800 448 -4630
Fax 952 - 448 -4676
DanWilson(a7 WilsonDevelopmentServices.com
Economic Development Director Updates:
IEDC:
The IEDC discussed the Embracing Downtown plan at their July meeting.
City Council:
The City Council approved allocating matching finds to continue to purchase phase 3 of
Bertram Chain of Lakes, the Park and Trail map was approved, and they approved rezoning
the old bowling alley from I -1 to B -2 for the purposes of allowing Quarry Church to develop
on the site.
On July 11, 2011 the City Council approved replacing pavers along Walnut Street and
installing a box culvert for CSAH 75 Pedestrian Underpass as part of the CSAH 75 and 120`h
Street intersection improvement project
BR &E:
No new updates.
Inquiries:
Aroplax's warehouse addition continues to move forward. Staff sent an email to the owner's
(Steve and Paul) inquiring how the addition was coming along and congratulating them on
making their expansion plans a reality. Steve and Paul 'responded stating the expansion was
proceeding in good order.
Marketing / Venues:
The Greater MSP organization is a private and public organization recently established to
collectively address economic development in the state of MN. Below is a description of
Greater MSP's mission and objectives:
Greater MSP is a private - public partnership whose mission is to stimulate economic growth and
prosperity in the Minneapolis Saint Paul region. Its primary role is to be a value -added resource to
all economic development organizations and activities throughout the region, with the goal of a
brighter future for all residents of the region.
Together with our economic development partners, Greater MSP will provide vision, strategy,
resources, and staff support to link state and local governments and organizations involved with
job creation, regional marketing, and business recruitment and retention.
Specifically, Greater MSP will lead or partner with existing organizations to:
• Set a strategic vision for regional economic development
• Define and guide a tactical economic development agenda
• Brand and market our region to internal and external audiences
• Retain and expand current businesses in the region
• Attract new businesses to the region
• Connect businesses with local resources and incentives
City Staff has been contacted by Ted Mondale, a consultant working with Greater MSP, to
assist in efforts connecting Wright County to Greater MSP. Aligning ourselves with an
organization like Greater MSP has the potential to give Monticello great exposure to robust
companies. For example, the Board of Directors for the organization consists of executives
from Ecolab, General Mills, Cargill, and US Bank Corporation.
Wright County business leaders were asked to participate in an informative meeting on July
27, 2011. It will be important for businesses to continue to interject their input to ensure the
organization has the tools in hand to make Minnesota a better place to keep and attract
businesses.
Please check out the economic development website:
www. buildingbusinessinmonticello .com. Changes continue to be made in order to keep the
site fresh and relatable to site selectors, brokers, and businesses.
Normal social media, direct mailings, and attendance at important conferences continue to
occur.
Business Communications & Retention Initiatives:
Staff completed a second business video update through Wright County Cable commission.
The video will be posted on the economic development website as soon as we can work
through a few formatting issues.
Jim Mcklenburg and the Economic Development Director met in June to discuss Project Lead
the Way. Staff received detailed information related to the curriculum and manner in which it
is often integrated into the public schools. Subsequent to this meeting, staff met with Jim
Johnson and Linda Borgerding from the Monticello schools. Monticello school district is very
open to ways they can better connect their students to businesses in Monticello, particularly as
it relates to manufacturing companies. Linda and Jim relayed the message that they believe
science, technology, and math is critical to student education in order to foster a future
workforce for manufacturing companies. They believe the Project Lead the Way course is a
good tool and are not opposed to trying to implement it in some fashion. Jim and Linda do
believe their curriculum already includes a lot of components established in Project Lead the
Way. City Staff and the school district are going to continue to evaluate the feasibility and
best approach to potentially implement Project Lead the Way or a similar program. In the
mean time, City Staff is going to work with Jim and Linda on finding better ways to connect
high school students with local manufacturing companies. It is our goal to have a big tour and
job education event in October to celebrate manufacturing month.
In an effort to implement a local education or training program to Monticello businesses, City
Staff has been working with St. Cloud Technical College to create an effective list of
appropriate classes. A few ideas have been discussed with local businesses including: safety,
technical math, geometrical tolerance & dimensioning, and welding. Staff contacted several
manufacturing companies inquiring about their interest to send their employees to any of
these classes. Staff has received a luke warm response. However, staff does iuiderstand the
importance of continuing to offer education opportunities to businesses and therefore will
continue to follow up to potentially offer a pilot class this fall.
Embracing Downtown:
Part of regular agenda.
EDA August 15, 2011
Economic Development related articles:
According to the Minneapolis St. Paul Business Journal, Monticello is the l Ot" fastest growing
City in the metro area. See attached list for the Top 25 Cities.
Misc.
City Staff would like to meet with the zoning code rewrite group to begin discussing
acceptable building materials in the industrial district. If you participated on the small zoning
group previously, please tentatively mark your calendars for September 6, 2011 immediately
following the regular IEDC meeting.
Future Meeting Dates:
1. Embracing Downtown Steering Committee September 1, 2011
2. IEDC: September 6, 2011
3. EDA: September 14, 2011
EDA August 15, 2011