EDA Minutes 08-12-2009MINUTES
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
Wednesday, August 12, 2009
6:00pm
1. Call to Order:
Chairman Demeules called the meeting to order and declared a quorum at 6:00pm.
Roll Call:
The following Commissioners were present:
President Bill Demeules
Vice President Dan Frie
Commissioner Bill Fair
Commissioner Bill Tapper
Council Member Tom Perrault
Absent:
Commissioner Bob Viering
Council member Brian Stumpf
Also present Executive Director Megan Barnett and Finance Director Tom Kelly
2. Approve minutes:
No minutes were available.
3. Consideration of additional agenda items:
No additional items were added.
4 Approval of EDA invoices:
MOTION BY BILL TAPPER SECONDED BY DAN FRIE TO APPROVE INVOICES
ADDING TIF PAY AS YOU GO PAYMENT TO BBF AND THE INVOICE AMOUNT
OF KENNEDY AND GRAVEN AT $615.00. MOTION CARRIED. 5-0
Council member Perrault questioned the water and sewer bill related to 413 4th Street. Staff
stated this was a bill generated prior to services being turned off. Commissioner Tapper
inquired as to why we accrued a tax penalty. Finance Director explained the Wright County
process.
5. Approve entering into a Listing Agreement with Vantage Point
Staff updated the EDA on the status of Nelson Realty no longer in the real estate business.
Therefore the Listing Agreement with Nelson Realty is null and void. Director Barnett stated she
contacted Wayne Elam from Vantage Point Partners requesting his commercial broker services.
A contract was written, staff is asking a couple items be added to the proposed contract: 1.
Broker would be compensated $5,000 in the event the City zero's the price of the property
through TIF 2. Joint partnership in the MNCAR expo in the fall of 2009.
Commissioner Tapper asked what the difference is related to the previous agreement in relation
to the current proposed listing agreement. Director Barnett stated the only difference this listing
agreement is a month to month contract.
MOTION BY TAPPER SECONDED BY PERRAULT TO ENTER INTO A LISTING
AGREEMENT WITH WAYNE ELAM FROM VANTAGE POINT PARTNERS WITH
CHANGES AS REQUESTED BY STAFF AND CHANGE LINE 42 TO STATE 4% OR 6%.
MOTION CARRIED. 5-0
6. TIF Analysis and Management Plan.
Director Barnett stated the EDA is being asked to adopt the final TIF Analysis and Management
Plant tonight. Northland Securities completed minor clean up within the document subsequent to
EDA review.
MOTION BY FAIR TO ADOPT THE TIF ANALYSIS AND MANGEMENT PLAN
SECONDED BY TAPPER. MOTION CARRIED. 5-0
7. TRF Decertification.
Finance Director Kelly reviewed the details and reasons the EDA should decertify TIF Districts
1-26, 1-28, and 1-33. These TIF Districts are no longer needed, their obligations are able to be
met, and deemed to be decertified within the next 1 -2 years.
Finance Director Kelly stated various TIF Districts will need to be decertified in the next few
years, however they will require additional thought as to how to utilize money within the district
prior to decertifying. Commissioner Frie stated this should be looked at soon.
Commissioner Demeules asked about TIF District 1-36. Kelly stated this is a fairly new district
and he believes this district may end up cash flowing fine as time goes on.
MOTION BY FAIR TO DECERTIFY TIF DISTRICTS 1-26,1-28, AND 1-33 SECONDED BY
FRIE. MOTION CARRIED. 4-0. TAPPER ABSTAINED.
8. Marketing:
Staff will need to meet with Wayne Elam to further define a marketing strategy.
7. Report from Executive Director:
Director Barnett stated a possible trucking school may be locating in the current AVR site. Staff
provided a general update on economic development inquiries. A few closings are scheduled
within the next month utilizing NSP funds.
Additional discussion ensued regarding how TIF is calculated and captured, especially
concerning the change in assessed values.
Commissioner Fair stated he would like more time to study the TIF Analysis and Management
Plan. Fair further stated he would like brain storming and a plan established in order to maximize
excess TIF funds. He does not want this to be put on the back burner.
8. Adjourn
MOTION BY FRIE TO ADJOURN SECONDED BY TAPPER. MOTION CARRIED. 5-0.
Bill Demeules, President