HRA Agenda 08-02-2000
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MEMBERS:
AGENDA
MONTICELLO HOUSING AND REDEVELOPMENT AUmORITY
Wednesday, August 2, 2000 -7:00 p.m.
City Hall- 50S Walnut Street ~ Bridge Room
Chair Darrin Lahr, Vice Chair Dan Frie, Brad Barger, Steve Andrews, and Bob Murray.
Brian Stumpf.
COUNCIL LIAISON:
Treasurer Rick Wolfsteller, Executive Director Ollie Koropchak, and Recorder Lori Kraemer.
OFFICERS:
GUESTS:
Brad Johnson, Lotus Real Estate
Barry Fluth, BBF Properties
Jay Eller, Twin City Die Castings
Bruce Starook, Twin City Die Castings
1. Call to Order.
2. Consideration to approve the BRA minutes of July 5, 2000.
3. Consideration of adding agenda items.
4. Consent Agenda.
A Consideration to approve a resolution amending the Contract for Private Redevelopment by and
between the Authority, the City, and Twin City Die Castings Company.
5.
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7.
8.
9.
10.
11.
12.
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Consideration of items removed from the consent agenda for discussion.
Tabled - Consideration to hear a conceptual plan for redevelopment of the Amoco West Broadway/plus
site and a motion authorizing execution of a Preliminary Development Agreement between the HRA and
Barry Fluth.
Continued - Consideration to hear progress relative to research of purpose/objective and funding for a
scattered housing program and a motion of action/direction if so necessary.
Tabled - Consideration to discuss amending the wage requirement within the Business Subsidy Criteria of
the BRA and a motion directing staff to prepare draft copy of wage criteria and other necessary changes.
Consideration to review 1999 TIF Authority Reports and a motion offurther direction to staff.
Consideration to authorize payment of the monthly lIRA bilts and August 1,2000 pay-as-you-go TIF
payments.
Consideration of Executive Director's Report.
Consideration of committee reports:
a) City Council- Stumpf
b) MCP - Andrews
c) Marketing - BargerlLahr
13. Other Business.
14. Adjournment. Next HRA meeting, September 6, 2000.
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BRA Agenda. 8/2/2000
4A.
Consideration to approve a resolution amendio2 the Contract for Private
Development bv and between the Authority. the City. and Twin City Die Castio2s
Comvany.
A. Reference and backcround:
The Commissioners are asked to approve the attached resolution amending the completion
construction date from September 1,2000, to December 1,2000. Due to increased
construction costs in order to comply with the fire code plan, the company elected to
revise the construction plans to reduce costs. Jay Eller and newly hired Bruce Starook
will address the Commissioners as to the minimum improvement changes and a
construction process report.
Two things for the HRA to be concerned about: First: Timing. The minimum
improvements for Phase I to be completed for a full assessed value of January 2, 2001.
Secondly: Assessed Value. The 11 Cash Flow was based on 36,000 square footage
facility (Phase I) and the assessed value of a typical manufacturing facility.
B. Alternative Action:
1.
A motion to approve the resolution amending the Contract for Private
Development by and between the Authority, the City, and Twin City Die Castings
Company.
2. A motion to deny approving the said resolution.
3. A motion to table any action.
C. Recommendation:
The Chief Building Official is on vacation until July 31 so I'm unable to verifY the
approval of the revised plans. Assuming such is correct, the recommendation is
Alternative No.!.
D. Supoortin2 Data:
Copy of resolution.
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BRA Agenda - 8/2/00
6.
Tabled - Consideration to hear a concePtual plan for redevelopment of tbe Amoco
West Broadwav/pl~s site and a motion authorizin~ execution of a Preliminary
Development Aereement between the BRA amd Barry Fluth.
A. Reference and backeround:
This item was tabled at the July 5 BRA meeting by the commissioners as Developer Brad
Johnson had called the HRA office to cancel his appearance as first: He thought the
meeting was July 12 and secondly: At that point was unable to get planners togather.
Attached as supporting data is the July 5 agenda supplement. It is important to keep this
project on a timely progression because of the five-year knock out rule of June 2002.
It is recommended by Attorney Bubul to use the Preliminary Development Agreement
typcially used by the HRA. Section 6 of the agreement defines the effective date of the
agreement which can be extended later and Section 9 grants exclusive rights. Project cost
and TIF cash flow analysis by our consultant finn would be covered by the $5,000 deposit
and keeps the project moving forward.
B. Alternative Action:
1.
A motion authorizing execution of a Preliminary Development Agreement between
the BRA and Barry Fluth with an effective date of
2. A motion of no interest to authorize execution of a Preliminary Development
Agreement between the HRA and Barry Fluth and requesting staff prepare and go
out for an RFP.
3. A motion to tabled any action.
C. Recommendation:
Recommendation is to pursue a timely progression for redevelopment of the site and enter
into the Preliminary Development Agreement with Barry Fluth.
D. SUDPortine Data:
July 5 agenda supplement.
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RESOLUTION NO.
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION AMENDING THE CONTRACT FOR PRIVATE DEVELOPMENT
BY AND BETWEEN
TWIN CITY DIE CASTINGS COMPANY AND
HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY
OF MONTICELLO AND
CITY OF MONTICELLO
WHEREAS, the Housing and Redevelopment Authority (the "Authority") in and for the City
of Monticello, the City of Monticello (the "City"), and Twin City Die Castings Company (the
<1)eveloper") entered into the Contract for Private Development (the "Agreement") by and
between Twin City Die Castings Company and Housing and Redevelopment Authority in and for
the City of Monticello and City of Monticello on October 25, 1999; and
WHEREAS, ARTICLE IV, Construction of Minimum Imorovements, Section 4.3.
Commencement and Completion of Construction. of the Agreement read: Subject to Unavoidable
Delays, the Developer shall complete the construction of Phase I by June 1,2000, and
........................; and
WHEREAS, ARTICLE IV, Construction of Minimum Improvements. Section 4.3.
Commencement and Completion of Construction. of the Agreement was amended by the
Authority, the City, and the Developer on March 13, 2000 to read: Subject to Unavoidable
Delays, the Developer shall complete the construction of Phase I by September 1,2000, and
WHEREAS, to prevent default of the Agreement, the Developer requests ARTICLE IV,
Construction of Minimum Imorovements. Section 4.3. Commencement and Completion of
Construction. of the Agreement be amended to read: Subject to Unavoidable Delays, the
Development shall complete the construction of Phase I by December 1, 2000.
NOW, TIffiREFORE, BE IT RESOL YED by the Authority, the City, and the Developer as
follows:
1. The Developer acknowledges that due to significant increase in costs associated with the
research and development of a fire code plan for construction of a magnesium processing
plant and the increase in construction costs to comply with the fire code plan, the
Developer was caused to revise the Construction Plans for the Minimum Improvements of
Phase I in order to reduce construction costs.
2. The Developer acknowledges the revised Construction Plans do not alter the amount of
square footage of the Minimum Improvements of Phase I.
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Resolution No.
Page 2
3. The Chief Building Official in and for the City of Monticello has reviewed and approved
the revised Construction Plans for Phase I.
4. The Authority acknowledges amending the completion construction date from September
1,2000, to December 1,2000, and the revised Construction Plans will not alter the
Projected Tax Increment Cash Flow.
The Authority, the City, and the Developer hereby approve amending the construction
completion date from September 1,2000, to December 1,2000, within the Contract for Private
Development by and between Twin City Die Castings Company, Housing and Redevelopment
Authority in and for the City of Monticello, and City of Monticello, dated October 25, 1999.
Dated:
.20 .
HOUSING AND REDEVELOPl\1ENT
AUTHORITY IN AND FOR THE
CITY OF MONTICELLO
TWIN CITY DIE CASTINGS COMPANY
By
Its Chair
By
Its
By
Its Executive Director
CITY OF MONTICELLO
By
Its Mayor
By
Its Administrator
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Consideration to hear a conceptual Dlan for redevelopment of the Amoco West .." ,. ,.,"".-.c'_'-
Broadway lolus site and a motion authorizine an exclusive 60-dav ri~ht to work
, with Brad Johnson/Barrv Fluth.' ,.". '." .. '-", .,.
A. Reference and BackS!J"ound:
Atthe June BRA meeting.'Brad Johnsoll informed the commissioners. Bany Fluth, a local
investors. was interested in redevelopment of the Amoco site consist with the
redevelopment plan. He also. expressed an interest to redevelopment the North Anchor in
the future. The BRA requested Mr.. Johnson bring something back to the July BRA
meeting. Mr. Johnson asked the HRA for a 60 to 90-day right to develop the site.
In June, the BRA made a motion to actively pursue redevelopment of the Amoco site.
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2. A motion of no interest to enter into an exclusive 60-day right to work with Brad
JohnsonIBany Fluth for redevelopment of the Amoco site+ and requesting staff
prepare and go out for an RFP. '
G)
A motion to table any action.
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C. Recommendation:
Without seeing the concept. no recommendation is given. However. the BRA does need
to keep the five year knock-out rule in mind in order to allow for completion of planning.
marketing. financing, and construction of the project by June 2002.
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HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO, MINNESOTA
PRELIMINARY DEVELOPMENT AGREEMENT
THIS AGREEMENT, dated this ~ day of , ~ by and between the
Housing and Redevelopment Authority in and for the City of Monticello, Minnesota, a public
body corporate and politic (the "HRA") and ( the "Developer"):
WITNESSETH:
WHEREAS, the HRA desires to promote development of certain property within the City,
which property is legally described in Exhibit A attached hereto ("Property"); and
WHEREAS, Developer has submitted a preliminary proposal (the "Proposal") for
development of the Property (the "Development"), which proposal is attached hereto as Exhibit
B; and
WHEREAS, Developer has requested the HRA to explore the use of tax increment
financing (TIF) or other financing to offset a portion of the Development cost, including costs
of land acquisition, site improvements, and utilities; and
WHEREAS, the HRA has determined that it is in HRA's best interest that Developer be
designated sole developer of the Property during the term of this Agreement; and
WHEREAS, the HRA and Developer are willing and desirous to undertake the
Development if (i) a satisfactory agreement can be reached regarding the HRA's commitment for
public costs necessary for the Development; (ii) satisfactory mortgage and equity financing, or
adequate cash resources, for the Development can be secured by Developer; and (iii) the
economic feasibility and soundness of the Development and other necessary preconditions have
been determined to the satisfaction of the parties; and
WHEREAS, the HRA is willing to evaluate the Development and work toward all
necessary agreements with Developer if Developer agrees to reimburse the HRA for its costs if
the Development is abandoned or necessary agreements are not reached under the terms of this
Agreement.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
obligations set forth herein, the parties agree as follows:
1. Negotiations between the parties shall proceed in an attempt to formulate a
definitive development contract ("Contract") based on the following:
(a) Developer's current Proposal which shows the scope of the proposed
Development in its latest form as of the date of this Agreement, together with any changes
or modifications required by the HRA;
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(b) a mutually satisfactory Contract to be negotiated and agreed upon III
accordance with negotiations contemplated by this Agreement;
(c) such documentation regarding economic feasibility of the Project as the
HRA may wish to undertake during the term of this Agreement; and
(d) other terms and conditions of this Agreement.
2. It is the intention of the parties that this Agreement (a) documents the present
understanding and commitments of the parties and (b) will lead to negotiation and execution of
a mutually satisfactory Contract for the Development prior to the termination date of this
Agreement. The Contract (together with any other agreements entered into between the parties
hereto contemporaneously therewith) when executed, will supersede all obligations of the parties
hereunder.
3. During the term of this Agreement, Developer agrees to:
(a) Submit to the HRA a design proposal to be approved by the HRA showing
the location, size, and nature of the proposed Development, including floor layouts,
renderings, elevations, and other graphic or written explanations of the Development. The
design proposal shall be accompanied by a proposed schedule for the starting and
completion of all phases of Development.
(b) Submit an over-all cost estimate for the design and construction of the
Development.
(c) Submit a time schedule for all phases of the Development.
(d) Undertake and obtain such other preliminary economic feasibility studies,
income and expense projections and such other economic information as Developer may
desire to further confirm the economic feasibility and soundness of the Development.
(e) Submit to the HRA Developer's financing plan showing that the proposed
Development is financially feasible.
(f) Furnish satisfactory, financial data to the HRA evidencing Developer's
ability to undertake the Development.
4. During the term of this Agreement, the HRA agrees to:
(a) Commence the process necessary to create a project and a tax increment
financing district, to the extent such process, project, and district are necessary pursuant
to the terms of the Proposal.
(b) Proceed to seek all necessary information with regard to the anticipated
public costs associated with the Development.
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(c) Estimate the HRA's level and method of financial participation in the
Development and develop a financial plan for the HRA's participation.
5. It is expressly understood that execution and implementation of a Contract shall
be subj ect to:
(a) A determination by the HRA that its undertakings are feasible based on (i)
the projected tax increment revenues and any other revenues designated by the HRA; (ii)
the purposes and objectives of any development plan and TIF plan created or proposed
for the purpose of providing financial assistance for the Development; and (iii) the best
interests of the HRA.
(b) A determination by Developer that the Development is feasible and in the
best interests of Developer.
6.
This Agreement is effective from the date hereof through
,~.
7. Developer shall reimburse the HRA for Administrative Costs, as hereafter defined,
in the maximum amount of $ For the purposes of this Agreement, the term
"Administrative Costs" means out of pocket costs incurred by the HRA together with staff costs
of the HRA, all attributable to or incurred in connection with the modification of the TIF District,
the negotiation and preparation of this Agreement, the Contract, and other documents and
agreements in connection with the Development. Out of pocket Administrative Costs shall be
evidenced by invoices, statements or other reasonable written evidence of the costs incurred by
the HRA. Staff Administrative Costs shall be evidenced by written certification by HRA staff
stating the internal costs reasonably attributable to the activities described in the previous
sentence.
In order to secure payment of the Administrative Costs, Developer shall deliver to the
HRA cash or a certified check in the amount of $5,000, such delivery to occur upon execution
of this Agreement. If while determining the feasibility of the Project the HRA determines that
Administrative Costs will exceed $5,000 and that additional security is required, the HRA shall
notify Developer of the amount of such additional security. Within ten calendar days of receipt
of said notice, Developer shall deliver to the HRA the required additional security up to a
maximum additional amount of $5,000. The HRA will utilize the funds delivered by Developer
to payor reimburse itself for Administrative Costs.
The parties further understand and acknowledge that one of the Contract terms to be
negotiated may be reimbursement of Developer for amounts paid to the HRA pursuant to this
Section 7. If no Contract is executed, the HRA will return to Developer the funds paid by
Developer to the HRA pursuant to this Section 7, less an amount equal to the Administrative
Costs.
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8. This Agreement may be terminated upon 5 days' written notice by the HRA to
Developer if:
(a) an essential precondition to the execution of a contract cannot be met; or
(b) an impasse has been reached in the negotiation of any material term or
condition of this Agreement; or
(c) the HRA determines that its costs in performing under this Agreement will
exceed $5,000.
If the HRA terminates the Agreement under this Section 8, Developer shall remain liable to the
HRA under Sections 6 and 7 herein for costs reasonably incurred by the HRA through the date
of termination up to the amount specified in Section 7.
9. Developer is designated as sole developer of the Property during the term of this
Agreement.
10. In the event that Developer, its heirs, successors or assigns, fail to comply with
any of the provisions of this Agreement, the HRA may proceed to enforce this Agreement by
appropriate legal or equitable proceedings, or other similar proceedings, and Developer, its heirs,
successors or assigns, agree to pay all costs of such enforcement, including reasonable attorneys'
fees.
11. If any portion of this Agreement is held invalid by a court of competent
jurisdiction, such decision shall not affect the validity of any remaining portion of the Agreement.
12. In the event any covenant contained in this Agreement should be breached by one
party and subsequently waived by another party, such waiver shall be limited to the particular
breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent
breach.
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13. Notice or demand or other communication between or among the parties shall be
sufficiently given if sent by mail, postage prepaid, return receipt requested or delivered
personally:
(a)
As to the HRA:
Monticello HRA
Attn: Ollie Koropchak
P. O. Box 1147
250 East Broadway
Monticello, MN 55362
(b) As to Developer:
14. This Agreement may be executed simultaneously in any number of counterparts,
all of which shall constitute one and the same instrument.
15. This Agreement shall be governed by and construed in accordance with the laws of
the state of Minnesota. Any disputes, controversies, or claims arising out of this Agreement shall
be heard in the state or federal courts of Minnesota, and all parties to this Agreement waive any
objection to the jurisdiction of these courts, whether based on convenience or otherwise.
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IN WITNESS WHEREOF, the HRA has caused this Agreement to be duly executed in
its name and behalf and its seal to be duly affixed hereto and Developer has caused this
Agreement to be duly executed as of the day and year first above written.
DEVELOPER
By
Its:
By
Its:
HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE
CITY OF MONTICELLO
By
Its Chairperson
By
Its Executive Director
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EXHIBIT A
Description of Property
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EXHIBIT B
Project Proposal
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BRA Agenda - 8/2/00
7.
Continued - Consideration to hear proeress relative to research of
purpose/objectives and fundin! for a scattered housing pro~ram anda motion of
action/direction if necessary.
At the July meeting, Commissioner Frie reported the group had met with Don Welker,
Preferred Bank of Elk River. Welker outlined several funding options and suggested
defining the objective and targeted housing. It became apparent after receiving the
lengthy list of homes with EMV of$90,000 and less, that the target be lowered to
$65,000 and less. The group suggested a program simple with an objective of demo and
reconstruct.
Update on progress by Commissioner Dan Frie.
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BRA Agenda. 8/2/00
8.
Tabled. Consideration to discuss amendinl! the waee requirement within the
,Business Subsidy Criteria of the BRA and a motion directine staff to prepare a
draCt COPy of wale criteria and other necessary chanlfS.
A. Reference and backeround:
At the July meeting the commissioners were presented with information relative to the
Department ofDTED increasing the wage level criteria from $8.00 to $9.00 per hour for
non-metro. Additionally, the Wright County Partnership wage criteria is at least $10.00
per hour. The item was tabled for future discussion and additional information relative to
the new legislative changes.
It is suggested the BRA consider increasing the wage level for consistency with the State
criteria and work with the BRA Attorney relative to other potential changes. In the
future, the amended criteria will need to be submitted to the City Council to request a
public hearing and to approve the amendments.
B. Alternative Action:
1.
A motion directing staff to prepare a draft copy of the criteria amending the wage
level to at least $9.00 per hour exclusive of benefits and other necessary changes
for compliance with Minnesota Statutory.
2. A motion directing staff to prepare a draft copy of the criteria amending the wage
level to at least per hour exclusive of benefits and other necessary
changes for compliance with Minnesota Statutory.
3. A motion to not amend the BRA business subsidy criteria.
4. A motion to table any action.
C. Recommendation:
Recommendation is Alternative NO.1.
D. Supportioe Data:
None.
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9.
BRA Agenda ~ 8/2/2000
Consideration to review 1999 TIF Authority Reports and a motion of further
direction to staff.
To be presented at HRA meeting.
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10.
BRA Agenda - 8/2/2000
Consideration to authorize payment of the monthly BRA bills and Aueust 1. 2000
pay-as-you-eo TIF payments.
Please note in addition to the regular monthly invoice are copies of the request for
payment of the pay-as-you-go notes due August 1,2000. Your motion should include
both.
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Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
July 11, 2000
Statement No. 33737
City of Monticello
ACCOUNTS PAYABLE
505 Walnut Street, Suite 1
Monticello, MN 55362
Through June 3D, 2000
MN190~00041 Redevelopment - General
\{-R 'f\" ~J
'"' -x:<;. \- ~ ~?-
MN190-00061 Downtown Redevelopment TIF District
MN190~00083 Community Center Bonds~2000
Expenses
.
Total Current Billing:
Open Credit:
AMOUNT DUE:
I declare, under penalty of law, that this
account, claim or demand is just and correct
and that no part of it has been paid.
.
432.10
372.50
27.00
5.33
836.93
30.00
$ 806.93
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Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
41-1225694
July 11, 2000
Invoice # 33737
City of Monticello
ACCOUNTS PAYABLE
505 Walnut Street, Suite 1
Monticello, MN 55362
~^~
yt\L ~
MN190-00041 Redevelopment - General
Through June 30, 2000
For All Legal Services As Follows:
6/5/00 SJB Draft by-law amendments
6/7/00
6/23/00
SJB Attend HRA meeting
SJB Phone call with 0 Koropchak re various TIF questions
Total Services:
.
For All Disbursements As Follows:
'!
Fax
Postage
Total Disbursements:
Hours
0.60
2.00
0.30
$
Total Services and Disbursements: $
,
Amount
89.40
298.00
44.70
432.10
$
1.00
0.33
1.33
433.43
.
Page: 2
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
City of Monticello
\1--~ WO
?-?-
\~~
June 30, 2000
MN190-00061 Downtown Redevelopment TIF District
Through June 30, 2000
For All Legal Services As Follows:
6/7/00 SJB Prepare summary of rules for TIF District 1-22; attend
HRA meeting
Hours
2.50
Amount
372.50
Total Services:
$
372.50
For All Disbursements As Follows:
.
Photocopies
Total Disbursements:
$
4.00
4.00
Total Services and Disbursements: $
376.50
.
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Page: 3
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
City of Monticello
June 30, 2000
~-
~~~~
~
MN190-00083 Community Center Bonds-2000
Through June 30, 2000
For All Legal Services As Follows:
6/27/00 CAW Telephone Conference with City; intraoffice conference
with D. Greensweig re: new legal
Total Services:
.
Hours
0.30
Amount
27.00
$
27.00
Total Services and Disbursements: $
27.00
.
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voucher.wk4: 04/04/97
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BRA Agenda - 8/2/2000
11.
Consideration of Executive Director's Report.
a) TIF Assistance request for Klucas property - Attached is a copy of the letter of support
by the City Council for purpose of submission along with the tax credit application to
MIfF A by the developer.
b) Prospects-
100,000 sq ft user - Window production. Elects to stay in the SLP or Golden Valley area to
retain their current employees. Was very impressed with our brochure, advised to keep mailing.
Ifhas a need to start a new business would certainly consider Monticello.
4,000 sq ft user - Machine tool shop. Now works out of home in St. Michael. Met with owner
July 12. Future project. Looking for acres to construct facility.
Allied Companies - Mark Houge no longer with Allied. It appears Silver Creek Development
may work with Allied for development of the East 7 Street project. Proposed
industria1/commercial incubator facility. Meeting with developer August 2,9:30 a.m.
50-100 acre site user - MN mfg headquarter. Representative was in town looking at Pfeffer
property, did not contact City. 7-19-00 Company put project on hold - not dead.
. 100,000 sq ft, three-story office headquarters - About 400 people, not CEO headquarter but
upper management. 10 acres. Through CB Richard Ellis. Needs freeway access not freeway
exposure. Professional aesthetics. 500 cars, one floor. Time frame not known. Met June 27,
with Ollie and Jeff Request shapes. Follow-up July 6 - Report submitted to company June 29.
Visited three communities. One withdrew, concentration of one employer. Monticello most
helpful and respective. Monticello sites: Proposed City, Pfeffer, and Conoco area. Uses to close
to industrial, mining operation. trucking, car dealership. Corporate image. Company rep on
vacation. However, agent saw need for leaseable industrial space.
50,000 sq ft office/production facility - Foam fabricating company - 2001-2002 project.
Monticello information to decision makers. June 16.
30,000 sq ft machine shop - 3-4 acres. 10-15 jobs wages $22-$26 (machinists). Lead from
Wright County. June 29.
400,000 sq ft foot office/warehousing facility. 30 ft ceilings, 30,000 sq ft office, 10,000 light
industrial, and 360,000 sq ft warehousing. 25-35 acres. Lead from Brad Barger. July 17.
Mailed information July 19. Attached letter.
.
1
.
.
.
BRA Agenda - 8/2/2000
25,000-30,000 sq ft facility ~ manufacturing (metal stamping) 40 employees now. 6~8 new.
$15.02 ph excluding benefits. 2001 project. Builder and company owner in Monticello June 16.
No commitment but every interested in Monticello. Was contacting Pfeffer. 5-6 acres. Lead
from brochure. Pfeffer indicated he would be out~of-business in Roger (land sold). Has more
activity relative to Monticello property - large user ~ no commitments.
ConunerciallIndustrial Builder - Tricon, Inc. of Rogers on tour. Interested in Monticello to
relocate business. Drove by Value Plus building soon to be listed. He called and has purchased
building
August 4 ~ Guests of Arve Grimsmo: Norway Ambassador Thomas Vraalsen, Representative
David Minge, Ross Peterson, Don Smith, Mayor Belsaas, and Koropchak will have lunch at the
community center prior to the delegation touring the H-Window Company and Wright County
Fair.
Keeping in touch with Profile.
Manufacturer looking for 15-20 acres. Needs rail. Out of Duluth. Mailed information July 18.
Colliers Towle Real Estate - Looking for information to assist with large users. Zoning maps,
commerciallindustrialland available, utility maps, information on scheduled infrastructure
improvement and projects, information of availability of fiber optics, existing or planned, TIP and
other incentives offered. June 30. Waiting for infonnation on scheduled infrastructure
improvement and projects.
c) 30 brochures mailed end of June.
d) Next meeting with developers of the Farrell Gas site scheduled for August 2,8:30 a.m.
e) Chadwick property swap on hold with Chadwick and Bowers on vacation. Timing of property
control versus timing to complete mining of gravel remains unresolved.
2
July 11,2000
MONTICELLO
Mr. Larry Olson
Little Mountain Manor
Limited Partnership
Metro Plains Development, LLC
1600 University Avenue, Suite 212
St. Paul, MN 55104
Re: Little Mountain Manor Limited Partnership
Tax Increment Financial Request
Dear Mr. Olson:
.
This letter is in response to your appearance before the July 5, 2000 Monticello HRA , and your appearance
before the Monticello City Council on July 10,2000. Your request to the HRA. which \,>as reviewed, endorsed
and forwarded to the City Council, was for tax increment financing consideration for the redevelopment of the
Edgar Klucas property. [t is our understanding that the purpose of your request was for pay-as-you-go Tlf
benefits for a period not to exceed five years. Said proceeds would be used for soi I corrections in an amount
not to exceed $10,000 and for a reimbursement of pay-as-you-go TfF benefits in an amount not to exceed 50%
of the real estate increment as generated on the project by reason of your proposed 28-unit townhouse rental
project.
[t is further our understanding that given the demographics of the project, the rent levels and your desire to
have municipal involvement as an inducement to help get Minnesota Housing Finance Agency tax credits
awarded to the project, the tax abatements would be used to directly reduce tenants' rents for the first five years
of the project I ife, creating more affordable rents.
This letter of commitment is subject to final approval at the City's sole discretion and serves as a letter of
acknowledgment of your request and that if the project is selected, the preliminary foundations fix a formal
request have been laid and a formal development agreement, etc., would have to be presented that would be
agreeable to all parties.
We would appreciate you keeping us apprised of the status of your Minnesota Housing Finance Application.
Sincerely,
.
\ I
~
cc: File
Monticel\o City Hall, 505 Walnut Street, Suite 1, Monticello, MN 55362-8831 . (763) 295-2711 . Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362. (763) 295-3170. Fax: (763) 271-3272
July 19, 2000
MONTICELLO
Mr. Tom Shaver
Liberty Property Trust
10400 Viking Drive, Suite 120
Eden Prairie, MN 55344
Re: 400,000 sq ft office, light manufacturing, warehouse facility.
Dear Tom:
Based on our conversation of July 18, you represent a National client looking for a site to construct a
350,000 sq ft warehousing/office facility with the potential to expand up to 500,000 sq ft in 2-3 years.
Site 25-35 acres. A late fall 2000 ground breaking is anticipated with an occupancy date of third quarter
2001.
..
Job projections include 100 office workers and 250 distribution workers with future growth potential. To
help the City of Monticello weigh the benefits and non-benefits of this industrial project, two key questions
remain unanswered: First, number of jobs and wages excluding benefits within two years. Secondly,
average daily truck traffic and peak delivery time.
The City of Monticello offers tax increment financing and a low interest revolving loan to qualifYing
businesses. Our history and priority has been to attract small to medium-sized manufacturing businesses
and good paying jobs. As per our telephone call, the City of Monticello has two site options of 25-35
acres. The two sites, Monticello Commerce Center and Monticello Market Place, are privately owned.
The third site mentioned is under consideration for purchase by the City; however, this site would not meet
the time frame of your client.
I have enclosed information about the City of Monticello and Wright County labor market infonnation.
Should you have additional questions, please do not hesitate to call me at 763-271-3208.
Sincerely,
CITY OF MONTICELLO
(j~ \::(U1~y~
Ollie Koropchak
Director of Economic Development
c:
Mayor Roger Belsaas
Rick Wolf steller, Administrator
Jeff O'Neill, Deputy J\4ministrator
File
.
Monticello City Hall, 505 Walnut Street, Suite 1, Monticello, MN 55362-8831. (763) 295-2711' Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362. (763) 295-3170' Fax: (763) 271-3272
'0)
.' Jtcig-02-00 12: 39P Lotus Rea lty
P.02
.
LarDS
RItA l;ry SERVICES
To:
From:
Dalt::
Monticello TTRA
LotlLCi Realty and D13F Properties
August 2, 2000
Subject:
Redevelopment Agreement
A.moco Site PILL" Adjacent Propcny
Lotus Realty and ABl" Propenics propose In enler into 811 Exclusive Right lU Redevdop
the above property in downtown Monticello. The Agreement will be for 120 days and
allow Lotus and BBF to detennine a realistic timcline tOT redevelopment and study the
economic feasibility. During the 120 days we will work with the CiLy Staff and report
our findings to the HRA and hopeful1y propose a 2.phao,;e development.
.
Phase 1- ADlOCO Site
2 sLory mixed use building plus a garage accessory unit per attached concept plan.
Economic Value (u...sessed value not cost):
1 $1 Floor Office Retail $300,000
2nll Floor 6-8 units of apartments $240,000
Accessory Unit SSO,OOO
Total Phase 1 $590,000
Phase II Town Home Site (For Sale or Rental)
4 to 8 Tnwnhome Units $400,000
4 Accessory Units $200,000
Total Phase 11 $600,000
.
551 WEST 78TH STREET. P.O. BOX 235. CHANHASSEN, MINNESOTA 55317. (612) 934-4538. FAX (812) 934-5472
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