Loading...
HRA Agenda 06-06-1995AGENDA MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Tuesday, June 6, 1995 - 7:00 p.m. City Hall MEMBERS: Chairperson Al Larson, Everette Ellison, Tom St. Hilaire, Brad Barger, and Roger Carlson. STAFF: 011ie Koropchak. 1. CALL TO ORDER. 2. CONSIDERATION TO APPROVE THE MAY 15, 1995, HRA MINUTES. 3. CONSIDERATION TO ADOPT A RESOLUTION APPROVING THE MODIFICATION OF THE TIF PLANS FOR TIF DISTRICT NOS. 1-1 THROUGH 1-19, SPECIFICALLY TIF DISTRICT NO. 1-19, ALL LOCATED WITHIN REDEVELOPMENT PROJECT NO. 1. 4. CONSIDERATION TO ADOPT A RESOLUTION APPROVING THE PRIVATE REDEVELOPMENT CONTRACT BETWEEN THE HRA, THE CITY, AND PRESBYTERIAN HOMES HOUSING AND ASSISTED LIVING, INC.; THE EXTENDED LOW-INCOME HOUSING COMMITMENT BETWEEN THE HRA AND THE PHM; AND THE SUBORDINATION AGREEMENT AMONG THE HRA, THE CITY, AND THE TRUSTEE. 5. CONSIDERATION OF A TIF LEGISLATIVE UPDATE AND THE APPROVAL TO WITHDRAW MODIFICATION OF TIF PLANS FOR TIF DISTRICT NOS. 1-1 THROUGH 1-I1. 6. CONSIDERATION OF A COST ESTIMATE FOR THE MODIFICATION OF PLANS FOR REDEVELOPMENT PROJECT NO. 1 AND TIF. 7. CONSIDERATION OF A LEGAL OPINION FROM HRA ATTORNEY BUBUL. e. CONSIDERATION TO NOMINATE AND ELECT A VICE -CHAIRPERSON OF THE HRA. 0. OTHER BUSINESS: a) Consideration to approve monthly billingo. b) Copy of a letter from Brad Larson. C) Other. 30. ADJOURNMENT. M]NUTF.B SPECIAL JOINT BUM"MG - MON77CELLO COM I MONS Monday, May 18,1885.7 p.m. Members Present: City Council: Brad Fyle, Clint Herbst, Brian Stumpf, Tom Perrault Planning Commission: Dick Frie, Jon Bogart, hick Martie, Richard Carlson, Rod Dragsten HRA: Al Larson, Tom St. Hilaire, Everette Ellison, Brad Barger Parks Commission: Bruce Thielen, Fran Fair, Larry Nolan, Steve Andrews, Roger Carlson Members Absent: Shirley Anderson, City Council Others Present: Sheldon Johnson, School District; John McVay, IDC; Ken Maus, IDC; Ron Hoglund, Chamber of Commerce; Bret Weiss, City Engineer A special joint meeting of Monticello Commissions was held for the purpose of identifying goals and objectives for the city in the area of housing and economic development and to discuss a variety of strategies for accomplishing those goals. Direction provided from the meeting will become the basis for major sections of the comprehensive plan. Once goals have been established, the City will then review the ordinances, decide if they accomplish the goals that have been set, and make any changes accordingly. 3. City Planner Steve Grittman reviewed and the group discussed potential economic development goal statements with the following results: I. What is the primary purpose for the City's economic development program? A. Monticello should pursue economic 18 development to broaden the City's tax base. B. Monticello should pursue economic 3 development for the purpose of expanding the City's job inventory. Page 1 Special Joint Meeting Minutes - 5/15/95 GOAL .'TAS TEMENTS VOTES C. Monticello should pursue economic development 1 as a means toward achieving other community goals. II. What quality of economic development should the City Pume? A The City should focus its pursuit on new and 10 existing high quality, high investment businesses. S. Monticello should focus on mid-level businesses. 0 C. Monticello should focus its efforts on expanding 1 or entry-level businesses. D. Monticello should consider each potential 9 business individually on a case-by-case basis. III. How should the City utilize its financial incentives? A The City should utilize its financial strength to 9 attract business. H. The City should utilize its financial strength to 3 improve and maintain the city's infrastructure. C. Monticello should utilize its financial strength to 7 improve its "quality of life." D. Monticello should return the maximum amount 0 4 of its financial strength to the taxpayers without spending it. IV. On what land uses should the City focus its economic development incentives? A The City should focus its spending on housing 1 and redevelopment efforts. ' B. The City should focus its spending on commercial 2 development efforts. C. The City should focus its spending on industrial 17 development efforts. Page 2 Special Joint Meeting Minutes - 8/15/95 Economic Development Director 011ie Koropchak reported that the area currently considered in recruiting industry include employee salaries and benefits, financial strength, tax base, community involvement, and spin-off benefits. The group discussed potential housing goal statements, and it was noted by the City Planner that more than two-thirds of the current housing in Monticello is below the break-even point of paying for services and that it is difficult to maintain a tax base if low-end housing is excessive. Following are the results of the housing goal discussion. GOAL STATEMENI,a VOTES I. How does Monticello perceive the role of housing growth in the city? A. Is housing a support system for the City's 18 other uses? B. Is housing an economic development sector 0 in itself? II. What kind(s) of housing does the City wish to promote? A. Monticello wishes to promote middle and 4 higher -end housing only. B. Monticello wishes to promote low to moderate 0 market housing only. C. Monticello wishes to promote a full range 4.5 of housing. D. Monticello should monitor rather than promote 12.5 housing activity [and promote where a void exists]. III. What role does the City have in allocating housing development to different locations? A. Monticello needs to actively utilize its zoning 18 power. B. Monticello should consider the provision of 2 residential land base on specific requests, case-by-case. Page 3 Special Joint Meeting Minutes - 5/15/95 4A. Assistant Administrator O'Neill reported that Monticello is being considered by the Minnesota Sports Federation as a site for a regional sports facility, which may present an opportunity for a cooperative effort toward development of a family/education/sports center. The Sports Federation would solicit corporate donations from throughout the state for funding of the center, and user fees would pay for day-to-day operations and taus. The City is asked to determine to what extent development of a regional sports facility will contribute toward accomplishing City goals. O'Neill reviewed a list of current and potential activities in the community and problems associated with each. He noted that the City and School District have recently been attempting to jointly plan and combine resources for facilities such as meeting rooms, community kitchen, etc. Concerns were expressed regarding possible difficulties for the School District in scheduling events at the sports facility and possible difficulties relating to the facility being constructed on School District property. It was suggested that additional information is needed regarding the Federation and the facility prior to making a commitment to the project. O'Neill was directed to continue efforts toward developing a cooperative City/School plan for development of community facilities. Q 413. Assistant Administrator O'Neill reported that Monticello has also been approached as a possible site for an upscale outlet mall. A potential site for the mall would be north of the Middle School, which is presently zoned business campus and represents a major part of the industrial land inventory. He noted that a zoning amendment would be necessary to support an outlet mall at that site, which would require a 4/5 vote by the City Council. City Engineer Bret Weiss reported that two major transportation improvements would be needed to support this project: 1) a freeway off -ramp and on-ramp, and 2) realignment of the Oakwood Drive intersection. He noted that these improvements are currently planned for the future but would need to be done 3-4 years earlier to accommodate a project such as an outlet mall. Discussion focused on reviving the downtown area versus commercial development in other areas of the city along with traffic problems that would occur on Highway 25 if a mall was constructed in this area in addition to the recently - platted Monticello Business Center. Charlie Pfeffer, owner of the property being considered by the outlet mall, requested feedback as to whether or not the City is interested in this type of development, as he would focus his efforts elsewhere if the City is not comfortable with this project. Page 4 Special Joint Meeting Minutes - 5/18195 Assistant Administrator O'Neill noted that he will be meeting with outlet mall officials on Wednesday, May 17, to obtain additional information on the project and will report back to Council accordingly. There d being no further discussion. the meeting was adjourned. '-'f�LG ii;r11 1(z Karen Doty (� Office Manager Page 5 1997 HRA BUDGET TIF and HIRA General Fund Surplus Adopted August, 1996 Balance, August 18, 1996 J VJ- N -a-" Surplus Other Subtotal Total Revenue i�1�1lillyltl;I]� Public Improvements* Chelsea Road Alignment and Storm Sewer Improvement Industrial Development Reserve Fund Matched Funds** Surplus[Public Improvments Chelsea Road Alignment and Storm Sewer Improvettteut H -Window Subtotal Total Expenditures Balance, December 31, 1997 S 130,000 S 130,000 S 37,500 37,500 $ 37,500 $115,000 $ 20,000 $247,500 S 117.919 S247,919 S 247,500 S 419 • Purpose to conTensate for City Loss. Can be used for HRA development or redevelopment and public improvments otherwise in City General Fund. The Chelsea Road Alignment, Storm Sewer Improvement, and Industrial Developmem Reserve Fund are suggested uses for the projected $75,000 loss. •• HRA Matched Funds for Industrial Development Reserve Fund C 'D. MINUTES MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Monday, May 15, 1995 - 6:30 p.m. City Hall MEMBERS PRESENT: Chairperson Al Larson, Everette Ellison, Tom St. Hilaire, and Brad Barger. STAFF PRESENT: 011ie &oropchak. HRA CANDIDATE PRESENT: Roger Carlson. 1. INTERVIEW OF CANDIDATES FOR COMMISSIONER OF THE HRA. HRA Commissioners received a copy of Roger Carlson and John Duffy's resumes prior to the meeting. From a list of prepared questions, HRA members and Councilmembers Clint Herbst and Tom Perrault conducted an interview with Mr. Carlson. Mr. Duffy withdrew his name as a candidate stating increased demands of time and commitment to his employer. Mr. Carlson is a candidate for the five -term term which was vacated by Ben Smith. The expiration date of the five-year term is December, 1995. Following a brief discussion and the decision not to re - advertise for the vacated seat, Tom St. Hilaire made a motion recommending the City Council consider the name of Roger Carlson for appointment to the HRA Commission. Brad Barger seconded the motion and with no further discussion, the motion passed unanimously. The HRA felt Mr. Carlson's resume was well-written, his responses to interview questions were well thought-out, and he has some experience with governmental entities. Additionally, he runs a local business and was born and raised in Monticello. Mr. Carlson's name will appear on the June 12 agenda of the City Council for appointment. 2. RECOGNITION OF BEN SMITH. HRA COMMISSIONER RESIGNED. HRA Chairperson Larson presented Ben Smith a plaque in recognition of his SO -years of volunteer service as a commissioner of the HRA. Mayor Pyle also thanked Ben for his dedication and service to the community. 3. MEETING WITH CJT`( COUNCIL; PLAINNING COMMISSION. AND PARES COMMISS;ON kfIBERS FOR A REPORT OF THE UPDATED MONTICELLO COMPREHENSIyE FLAN AND ITS RELATIONSHIP TO THE EXPENDITURE OF POOLED TIF DOLLARS. HRA members attended the joint -governmental meeting in the Council Chambers from 7:00 to 10:00 p.m. Page 1 i r HRA MINUTES MAY 15, 1995 Cd:IAANHW61i6321AN Chairperson Larson called the HRA meeting to order at 10:15 p.m. CONSIDERATION TO APPROVE THE APRIL 5, 1995 HRA MINUTES. Tom St. Hilaire made a motion to approve the April 5, 1995 HRA minutes. Chairperson Larson requested a correction to page 6, paragraph d of the minutes, with the insert of the word "excess". (Chairperson Larson felt the excess pooling dollars should return to the taxing jurisdictions who approved the original TIF Districts.) Tom St. Hilaire amended the original motion to include the requested correction. Brad Barger seconded the motion and with no further corrections or additions, the minutes were approved as amended. 6. CONSIDERATION TO REVIEW FOR MODIFICATION THE PROPOSAL TO ENLARGE THE BOUNDARIES OF REDEVELOPMENT PROJECT NO. 1 AND THE PROPOSED BUDGETS FOR TIF DISTRICT NOS. 1-1 THROUGH 1-11 AND DISTRICT NO. 1-19. ALL LOCATED WITHIN REDEVELOPMENT PROJECT NO. 1. MODIFICATION TO ENLARGE TRE REDEVELOPMENT PROJECT BOUNDARIES. Koropchak reiterated the information provided in the agenda supplement for the enlargement of the redevelopment project boundaries to include the Monticello Business Center and the East Kjellberg Mobile Court. The request did not come from the Landowners Emmerich or Kjollberg. The recommendation was from Attorney Bubul and staff becauoo a combination of modifications is both convenient and cost-effective. Additionally, with the unknowns of State Legislative changes, this would oocuro the opportunity to use TIF in the future for the O'Collo Business Campus area. HRA members inquired as to the coot for the modification to onlarge the boundaries. Koropchak did not have an actual coot; however, Koropchak estimated a not-to-oxcood figure of 65,000 for PRC and Holmes & Craven services. The coot would be less than the fees to create a now TIF district and loss for a combination of modifications then an individual modification. HRA mcmbcro requested a cost estimate be obtained from PRC and Holmes & Craven prior to HRA authorisation to onlarge the rcdevolopment project boundaries. 'A, Page HRA MINUTES MAY 15, 1995 MODIFICATION OF TIB PLANS FOR TIF DISTRICT NOS. 1-1 TER000H I- li. Again, Koropchak reiterated information provided in the agenda supplement relating to the modification of TIF Plans for District Nos. 1-1 through 1-11. Members were provided with an Legislative update on TIF, a line -item list of potential projects for the pooling TIF dollars from pre -1990 Districts, and a proposed schedule for modification of the plans. Per Attorney Bubul, the HRA was advised to continue discussions to define a line -item budget which would safeguard against any action by the State Legislation. Earlier in the evening at the joint governmental meeting, commissioners responded and voted on questions to establish goals for economic development in relationship to the Comprehensive Plan Update. Additionally, the commissioners were exposed to the preliminary concepts of two proposed projects: an outlet mall and a Minnesota Sports Federation arena. Of the estimated 3.5 million pooling dollars, the HRA recommended the following budget: 1) Retire the debt (estimated £90,000) on the 8% loan from the City for Lot 5, "- Block 3, OIP. 2) $100,000 for redevelopment of the Katzmarek Property. Due to the fact the property lies within a flood - zone and is non -buildable, no tax increment can be generated. 3) $2,000,000 for the Fallon Overpass as an alternative route for local traffic (Koropchak felt the eotimate-1 dollars for this was $1 ,400,000). 4) Remaining pooling dollars for the Waste Wator Treatment Plant. The HRA saw an immediate nocd to upgrade the intersection of Highway 25 and Oakwood Drive to eliminate traffic congestion and an unsafe area. With no estimated dollars for the Intersection upgrade and no dooignotod parcels for realignment, the HRA did not recommend dollars for this public improvement. The Interchange at I-94 and County Road 118 was marketed to the outlet mall developer as an upgrade of $400,000 (on and off ramp) and not the $3,000,000 (full interchange). MODIFICATION OF THE TIP PLAN FOA TIP DISTRICT NO. 1-19. Again, Koropchak reiterated the information providud in the agenda supplement stating this is a houockcoping item. This Page 3 HRA MINUTES MAY 15, 1995 modification ratifies the April HRA approval to increase the budget of TIF District No. 1-19 (Mississippi Shores) by $42,000. Total of the budget approved is $367,630. CONSIDERATION TO APPROVE A_ RESOLUTION AUTHORIZING PRG TO PREPARE THE MODIFICATION OF THE TIF PLANS FOR TIF DISTRICT NOS. 1-1 THROUGH 1-11 AND THE TIF PLAN FOR TIF DISTRICT NO. I- 19, ALL LOCATED WITHIN REDEVELOPMENT PROJECT NO. 1. Everette Ellison made a motion to adopt the resolution authorizing PRO to prepare the modification of the TIF Plans for TIF District Nos. 1-1 through 1-11 and the TIF Plan for TIF District No. 1-19, all located within Redevelopment Project No. 1. Brad Barger seconded the motion and with no further discussion, the motion passed unanimously. SEE RESOLUTION 95-3. Koropchak added prior to May 25, PRG will notify the taxing jurfsdictlono of the fiscal impact only relating to the modifications for the pooling TIF dollars which allows the HRA flexibility to further define the line -item budget or to delay any action pending the outcome of Legislativo action by May 22. The taxing jurisdictions will be notified of the approved budget relating to the modification of the TIF Plan for TIF District No. 1-19. The HRA will adopt the reoolution approving the modifications at their June meeting. On June 12, the City Council will call for a public hearing date of Junc 26, 1995 to adopt a resolution approving the named modifications. CONSIDERATION TO APPROVE A RIGHT -OF -ENTRY TO ENTER LOT 5, BLOCK 3, OIP. The HRA received a roqucot from Bret Wc13s, City Engineer, to approve a right -of -entry to ontor Lot 5, Block 3, OIP, which Is owned by the HRA. Grading is neccssa ry for development of a swale along the common property line of the southerly boundary of the HRA lot and the northerly boundary of the Klein Farm property. The swalo will be located along the common property line. The site will be rostored by oceding and at no coot to the HRA; however, the fence Is not proposed to be roinotallcd. After a brief discussion, Brad Barger made a motion granting OSM a right-of-ontry to enter Lot 5, Block 3, OIP. Evorette Ellloon seconded the motion and with no further diseuooion, the motion passed unanimously. SEE RESOLUTION 95-4. Page 4 HRA MINUTES MAY 15, 1995 9. CONSIDERATION TO APPROVE A RESOLUTION AUTHORIZING PRG TO PREPARE THE MODIFICATION OF REDEVELOPMENT PROJECT NO. 1, MODIFICA11ON OF THE TIF PLANS FOR TIF DISTRICT NOS. 1-1 THROUGH 1-19, AND THE ESTABLISHMENT OF TIF DISTRICT NO. 1-20 AND THE TIF PLAN FOR TIF DISTRICT NO. 1-20. Koropchak explained the need for a preliminary concept approval for the use of upfront TIF in the amount of $50,000. 9pf7ont. TL^ ir., ru.re:�r..c..y .o .• :tt. ;ire IT:cr• which is attractive to a developer and produce rents which are affordable to the tenant. Hoglund and Schwartz withdrew as Interested developer after a second review of the project and with the lack of no TIF assistance for the HRA lot. The tenant, a Monticello manufacturing business, has outgrown the apace it leases. The company's new owner is hard working and appears to know the business. The most current P&L statements Indicate the company profits are ahead of projections. The company has excellent accounts and has turned -down business. The company has one-year remaining of high worker's compensation premiums for a portion of the business which has been sold. PRO has found a developer from the metro who Is into -rested in the project. A meeting 1s scheduled for tomorrow with the proposod developer, tenant, PRO, and Koropchak. Following that meeting, a meeting has been scheduled with First Bank. The tenant needs to make a decision by mld-May whether to rolocato in 1995 to Backer or Monticello or to rent for an additional year. Additionally and again, the project In not financially doable without TIF. The proposod project Is for the conotruction of a 13,500 to 15,000 sq ft metal office/manufacturing facility for leaoe to the tenant. The tenant/company currently employs 28 full-time and plane to hire an additional 10-12 people with the expansion. The project both supports the BRE objective of the IDC and truly moots the TIP "but for" twat and the CMEF "gap financing" criteria. Without complete financial data, NRA members agreed the project woo marginal and felt the project did not meet the objectives outlined at the joint -governmental meeting. Thcy encouraged tho company to loaae for another year allowing time Page 5 HRA MINUTES MAY 15, 1995 to increase their profits in order to afford industrial market rental rates. The HRA would reconsider the use of TIF next year. 10. CONSIDERATION TO REVIEW COMMENTS OF A REFERENCE CHECK ON PUBLICORP. INC. FOR FURTHER DIRECTION. HRA members agreed the comments from the reference checks were •,'•�',•E t'8�1:''.�. ?ef o'•P�.•'.7c.':.F7 _..�i•c; •r`;�: ,r•,��. tr.c;A. .. ' has a new project. This'wouid be•on a trial basis. PRG is'to complete the projects and modifications in progress. 11. OTHER BUSINESS: a) HRA members accepted the monthly PRG and Holmes & Graven bills. Koropchak noted legal expenditures, today, for the Senior Housing project were approximately $5,000. b) HRA members agreed and went on record stating the highest and best use of the Monticello Commerce Center property was for the utilization of industrial businesses and quality jobs. C) Chairperson L?rson requested Koropchak review with Attorney Bubul for any legal ramifications the addition of a nineth criteria to the local TIF policies: The project shall be deemed to demonstrate community involvement and/or encourage local residency. d) Koropchak noted a manufacturing business Interested in Monticello for construction of a 100,000 eq ft offico/production facility. 125 jobs and the need for 20 acres. Hopefully, the IDC Prospect Team will visit or host the company in early June. C) The June HRA meeting was changed to Tuesday, June 6, 1995 In order to accommodate schedules. 12. ADJOURNMENT. The HRA meeting adjourned at 11:05 p.m. 011ie Koropchak, Executive Director Pago 6 HRA AGENDA JUNE 6, 1995 3. Consideration to adopt a resolution aoprovinq the modification of the TIF Plans for TIF District Nos. 1-1 through 1-19, specifically TIF District No. 1-19. all located within Redevelopment Project No. 1. A. Reference and Background: The enclosed resolution approves HRA modification of the budget for TIF District No. 1-19 and requests the City Council call for a public hearing date of June 26, 1995 relating to the modification. The modification increases the district budget by $42,000 for a total of $367,830.00. 160DIFICATI01 OF BODOBT On March 13, 1995, the City Council adopted a resolution establishing TIF District No. 1-19, a Housing District, to assist with costs associated with the senior housing project known as Mississippi Shores. The plan included a budget total of $325,830.00. TIF District No. 1-19 was submitted to Wright County for certification on April 27, 1995. Although the HRA agreed to increase the budget by $42,000 for a total of $367,830.00 on April 15, the TIP Plan was Submitted to Wright County for certification on April 27 at the budget amount of $325,830.00. This allowed the district to be certified prior to any Legislative action which might place additional restrictions on Housing Districts. The delay to formally modify the budget allowed timu for the :senior Housing Alliance, Inc. to secure additional funding necessary to make the senior Dousing project cashflow and to obtain acceptable rental rates. Again, the main purpose the HRA agreed to the modification was to allow 90% of the tax Increment to be opend on the senior housing project. Secondly, The 10% administration ($42,000 budget increase) provides dollars for HRA administration costa and/or allows the NRA the flexibility to pay an estimated HACA loss of $33,787 Net Present Value to the City if for some unknown reauon, in any given year during the life of district, the project does not moot the requirements of a "Qualified Housing District". It appears the roquiroment of median income-lovel is oatlfactory and it is anticipated the requirement of rental rates will also be oatiafactory. To moot the requirement of rental rates, 30% of the one bodroom units must rout for approximately $575 por month by 1995 HUD Page 1 HRA ACENDA JUNE 6, 1995 standards. This requirement will be determined in 1997, the first year tax increment is collected, and based on 1997 HUD standards. REQQBST FOR PUBLIC MUMISO The same procedure is followed to modify a budget as to establish a TIF District; therefore, the HRA requests the City Council on June 12, 1995, call :or a public hearing date of June 26, 1995, relating to and adoption for the modification. B. Alternative Action: 1. A motion to adopt a resolution approving the modification of the TIP Plans for TIP District Nos. 1-1 through 1-19, specifically TIP District No. 1-19, all located within Redevelopment Project No. 1. 2. A motion to deny adoption of the resolution. 3. A motion to table any action. C. Recommendation: As this Is an official action to a previous HRA agreement, staff recommends Alternative Action No. 1. D. Su000rtina Data. Copy of the budget for modification, the original budget, and the resolution for adoption. Page 2 JWJ-29-'00 SLM 02:35 ID: TEL NO: 0208 P02 Diatrict No_ 1-18 (As adopted November 28, 1994) Soil Corrections 1102-0DD.00 Subtotal $102,000.0D Administration 11-333.00 TOTAL S 113,333.00 Ta_:_ Increment Financinsp District No_ 1-19 *%,c� \ (As adopted Apr". 1995) Debt Service Reaerve for Housing Bonds $75,000 Demolition/Removal 7,500 Site Improvements Storm Sewer 15,440 Sanitary Sewer 18,930 Water 3.400 Water/Sewer Hookup Fees 30,000 Public Improvements Utility Realignment 12,000 Firetruck Patb/Hydranu 10,000 BibAPtd Pathway Bridge 10,000 Site Preparation 39,208 Other Preparation - Footings 15,675 Parlatng/Paviog/IAMdscapiag 48-657 SUBTOTAL 5285,830 Contingency 20,000 Administration 20, TOTAL $325,830 1-42 JAN -29-'00 SLN 02:36 ID: TEL N0: 4208 P03 (As modified June 26, 1995) Debt -Service Reserve for Housing Bonds $93,000.00 Demolltian/Romoval 7,300.00 Site Improvements Storm Sewer 15,440.00 Sanitary Sewer 18,950.00 Water 3,400.00 Water/Sewer Hookup Fees 30,000.00 Public Improvements Utility Rasligamaat 12,000.00 Fire Truck Path/Hydrants 10,000.00 Bike/Pcdeatrian Pathway Bridge 10,000.00 Site Preparation 39,208.00 Other Preparation Footings 15,675.00 PaddgQ/Pavia&Undwaping Continsency 48,657.00 20.000 Subtotal $323,830.00 Administration 42.000.00 Total $367,830.00 Subsection 1.11. 1bpd Use. All new and/or existing development on land Identified on Exhibits I•C through I•F as "property to be acquired' or "possible acquisition' will be subject to the following uses and requirements: 1.43 JF" -29-1 00 SLN 02:36 ID TEL NO, #208 PO4 Commiaaioner introduced to following reeolatim the reeding of which was dispensed with by unanimous consem and moved its edoodon: HOUSING AND RBDEV=PMBNT AUTHORITY IN AND FOR TTS CITY OF MONTICELLO WRIGHT COUNTY STATS OF MINNESOTA Resolution No. A RESOLUTION RELATING TO THE MODIFICATION, BY THE HOUSING AND REDEVSLOPhMT AUTHORITY IN AND FOR THE CTTY OF MO)MCELI.0. OF THE REDEVELOPMENT PLAN RELATING TO REDBVELOPMENT PROJECT NO. 1, THE MODIRCATION OF THE TAX INCREMENT FINANCING PIANS RELAMNG TO TAX INCREMENT FINANCING DISTRICTS NO. 1-1 THROUGH 1-18, AND THE MODIFICATION OF THE TAX INCRElMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-19. ALL LOCATED VIMUN REDEVELOPMENT PROJECT NO. 1. BE IT RESOLVED by the Commissioners (the 'Commisaloaers') of the HouslaS and Redevelopment Authofity (the "Authority-) in and for the City of Mondcello. Minnesota (the "City"). as follows: Section I. RWJ"b. 1.01. It has been proposed that the Authority modify. by itmeased project costs Redevelopment Project No. 1. pursuant to and In accordance with MWaugmAmam Sections 469.001 to 469.047. Inclusive, as amended. JAN -29-00 SW 02:37 ID: TEL NO: 4208 P05 It has bean further proposed that the Authority modifj , by Increased project costs the Mm Increment Financing Plans relating to Tax 1=ement Financing Districts No. 1-1 through 1-19 and approve and adapt the Tax Increment Financing Plana relating thereto, all located within Redevelopment Projea No. 1, pursuant to and in accordance with Miaceeata_Statlttea, Sscdoas 469.174 to 469.179, inclusive, as amended. 1.02. the Authority has investigated the facts and has caused to be prepared a proposed Modified Redevelopment Plan (the "Modified Redevelopment Plan") for Redevelopment Project No. 1. defining more Ley dw Increased project corm to be made to Redevelopment Projea No. 1, and the proposed Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1-1 through 1-19. (collectively referred to as to "Plane'). 1.00. The Authority and the City have performed all actions required by law to be performed prior to the modification of Redevelopment Project No. 1. and the modification of Tax Increment Fhmtdng Districts No.1-1 dwou,gh 1.19 and the adoption of the Plans relating thereto. 1.04. The Authority hereby determines that it Is necessary and In the best intereat of the City at this time to modify Redevelopment Project No. 1,'to modify Tax Increment Financing Districts No. 1-1 through 1-19 and approve the Plans relating thereto, and to request that the City Council (the 'Council") hold a public hearing relating to the above-sawd matters. Section 2. Approval of the Modified Redevela=ee� far 2.01. Subject to the finding, determination. and approval of the Modified Redevelopment Plan for Redevelopment Project No. I by the City Council of cite City, the Modified Redevelopment Plan for Redevelopment Project No. 1 is hereby approved by the Commissioners of the Authority. The Increased project can shall be described in the Modified Redevelopment Plan An Redevelopment Project No. 1, approved in Section 4 hereof. -2- 11 JAN! -29`100 SLN 02:38 IDf TEL NDI - - 4208 P06 �: i,`7.-1.� - .� �iy 1�' 11.1., y.' � • � ,.) 1� 3.01. Subject to the finding, dewrminadon, and approval of do ModlSed Tax Increment Financing Plans for Tax Increment Finandag Districts No. 1-1 through 1-19 by the Council of the City, the Tax Increment Fiaancing Plana for Tax Increment Flaanciag Districts Nos. 1-1 through 1-19 are hereby approved by the Commissloners of the Authority. Section 4. Anwad of the Ren acdn Plans. 4.01. The Plans presented to the Authority on this date, are hereby approved and adopted by the Authority and shall be foravarded to the Cowxil with the request that the Coundl hold a public hearing relating to the adopton of the Plans for Redevelopment Project No. 1 and Tax Increment Financing Maim Nos. 1-1 through 1-19. Section S. filing af 1%M. 5.01. The Authority shall cause the Plana, all as approved and adopted, to be Algid with the Minnesota Department of Revenue. 0111e Barapc hak, Executive Dicecmr -3- Chairman HRA AGENDA JUNE 6, 1995 Consideration to adopt a resolution avorovina the Private. Redevelopment Contract between the HRA, the City, and Presbyterian Homes HOu3inu and Assisted Living,, Inc.; the Extended Low -Income Housina Commitment Agreement between the HRA and PHM; and the Subordination Agreement among the HRA, the City and the Trustee. Reference and Background: At the April 5 HRA meeting, Attorney Bubul gave an updated overview of the senior housing project indicating the project financing was light and outlined alternative options to enhance the financing. Additionally, Mr. Bubul highlighted three documents for approval: The Private Redevelopment Contract, the Extended Low -Income Housing Commitment Agreement, and the Subordination Agreement. At that meeting, HRA members approved a motion authorizing the HRA Chairperson and the Executive Director to execute the above-named documento subject to no major changes or surprises. At the May 11 Monticello Senior Housing Alliance, Inc. meeting, Alliance members approved a proposal submitted by Presbyterian Homes, Inc. which would allow the senior housing project to move forward. The proposal included the use of an existing PHM 501(c)3 and sales tax exempt status; PHM guaranteua during rent -up; PHM guarantee "burns off" after 2 years cash flow; Wedum Foundation equity, no interest loan of $150,000; PHM equity, no interest loan of $50,000; PHM Management Contract, 10 years at 6%; project transfers to Wedum/PHM Affordable Housing, Inc, when 501(c)3 avallahlu; Advisory Board from Monticello; and $75,000 note paid to hospital firot - probably within 2 years of rent -up. The benefits to the PHM or Wedum/PHM Affordable Housing Inc. ownerohip/operations 10 construction otarts right away, Interest rates reduced 50 basis points, rents reduced approximately $10/month, and cash flow increases to 1.2+. Arrangemento will be outlined for the Alliance to buy out the. ownership. Alliance members felt bad the project didn't proceed under community -ownership; however, in order to proceed with the community supported project, the transfer was approved. Therefore, the above named documents were revised. Attornoy Bubul and Koropchok folt It boat to advise the HRA of the ownership change. Three changes to the documents: Firut, new ownership. Secondly, the City will contract for the public improvements and be reimbursed through the bond oalcs. The public lmprovemonto are a TIF exponditure and are part of the Pago I HRA AGENDA JUNE 6, 1095 pay -as -use -go assistance to PHM to reduce the rental rates. Thirdly, if for some unknown reason during the life of the district, the project does not meet the requirements of a "Qualified Housing District", the HRA agrees to transfer dollars to the City for its annual HACA Lose. B. Alternative Action: 1. A motion to adopt a resolution approving the Private Redevelopment Contract between the HRA, the City, and Presbyterian Homes Housing and Assisted Living, Inc.; the Extended Low -Income Housing Commitment Agreement between the HRA and PHM; and the Subordination Agreement among the HRA, the City, and the Trustee. 2. A motion to deny adoption of the resolution. 3. A motion to table any action. C. Recommendation: As the PHM ownership enhances the financial strength of the project and allows for the project to move forward, staff recommends Alternative Action No. 1. Remember, neither the HRA, the City, nor the Hospital Board were intorested in ownership. Council will be requested to approve the documento on June 12, 1095. I'm unclear as to when PHM will review and approve the applicable documents. D. Suonortina Data: Copy of the resolution for adoption and information from PHM, Dan Lindh. Pago 2 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MONTICELLO RESOLUTION NO ._ RESOLUTION APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT AMONG THE AUTHORITY, THE CITY AND PRESBYTERIAN HOMES HOUSING AND ASSISTED LIVING, INC. (PRESBYTERIAN BOILS HOUSING); EXTENDED LOW- INCOME HOUSING ,,,,�,,,y,y.e„� AGREE1ENT BETWEEN AUTHORITY AND PRESBYTERIAN HOLIES HOUSING; AND SUBORDINATION AGREENZNT AMONG THE AUTHORITY, THE CITY AND THE BOND TRUSTEE WHEREAS, the Housing and Redevelopment Authority in and for the City of Monticello ("Authority") is administering its Redevelopment Project No. I ("Project"); and WHEREAS, within the Project the Authority and the City have approved the creation of Tax Increment Financing District No. 1-19 (the "TIF District") in order to facilitate the development of a senior housing facility by Presbyterian Homes Housing and Assisted Living, Inc. ("Presbyterian Homes Housing"); and WHEREAS, Presbyterian Homes Housing expects that the facility w111 be financed in part through issuance by the City of Monticello of housing revenue bonds in the maximum principal amount of $3,500,000 (the "Bonds") ; and WHEREAS, the Authority has reviewed a Contract for Private Redevelopment among the Authority, the City and Presbyterian Homes Housing (the "Contract") specifying the respective obligations of parties re&rding development within the TIF District; and WHEREAS, the Authority has reviewed an Extended Low -Income Housing Commitment Agreement between the Authority and Presbyterian Homes Housing, Inc. (the "Low Income Agreement") regarding certain low-income housing requirements in connection with the housing facility; and WHEREAS, the Authority has reviewed a Subordination Agreement among the Authority, the Cityand the trustee for the Bonds, (the "Subordination Agrtxment") providing for subordination of the Authority's and City's interests in the Contract and the Low Income Agreement to the trustee for the Bonds; and WHEREAS, the Authority has determined that it is in the best interests of the Authority and the City as a whole to enter into the Contract, the Low Income Agreement and the Subordination Agreement; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of Monticello an follows: 1. The Contract, the Low Income Agreement and the Subordination Agreement are hereby approved In substantially the form presented to the Authority on this date, subject to modifications to those documents that do not materially alter the nature of the transaction, which are approved by the Chair and Executive Director; provided that executlon of the documents by such officials shall be conclusive evidence of such approval. esu+� cans -u 2. The proper Authority offidals are authorized and directed to execute the Contract, the Low Income Agreement and Subordination Agreement on behalf of the Authority, and to carry out on behalf of the Authority the Authority's obligations thereunder. Approved by the Board of Commisaioners of the Housing and Redevelopment Authority in and for the City of Montioallo this 8th day of June, 1994. Chair ATTEST: secretary auNnva Imw-u JUN- 1-95 THU 10 35 PRESBYTERIAN HOMES CORP. FAX NO. 6126316106 P.02 Memorandum DATE: June 1, 1995 TO: Monticello City Council FROM: Monticello Senior Housing Alliance, Inc, SUBJ: Monticello Senior Housing AAlance Mlsslastppi Shores; Our Current Position and Recommendation Monticello Senior Housing AlOance is recommending Iliad the TEFRA hearing action approved by the Monticello City Council earlier be emended to allow for Presbyterian Homes of Minnesot s to Issue the bonds a well. AH other eanponerds of Information presented to the Monticello City Council and HRA remain unchanged and conslstent The Monticello Senior Housing Alliance has been working on completion of Mississippi Shores for several months, We are getting dose to enabling construction to start but are constralned by the following: Marketing plateau at 17; short of the required 24 ► Financial proforma Is std tight - construction costs are approximately, 3,000/unh higher than antldpated ► 501(c)3 determination has been moelved • Sales tax exemption still pending Factors that are complete Include: . Architect plans and construction documents ► Convector and not4o-exceed price ► TIF and Development Agreement ► Approval for bonds ► Marketing and wailing Ild (Senior Innovations) ► Market feaslbtHty study (Pat McCullough) PmebyWftn Homos proposing to: • Use existing PHM 501(c)3 (Presbyterian Homes Housing and Asslated lMng, Inc. or WedumIPHM Affordable Housing, Inc.) ► PHM guarantees during rent -up . PHM guarantee obums air alter 2 years cash ftw . Wedum Foundation ecp* - no interest loan $160,000 . PHM equity $50,000 - no Interest loan • PHM Management Contract . Advisory Board from Monticello • 75,000 note pall to hospital fast - probably within 2 yeah Of WWI) ► Can be transferred tolowned by Monticello Senior Housing Alliance provided that ► PHM guarantee 'burned off' -1.2 coverage for 2 aoneecutive years or replaced PHM and Wedum Foundation pay beck oquity JUN- 1-95 THU 10:36 PRESBYMIAN HOMES CORP, FAX NO. 6126316108 P.03 Mwrnorendum Manticelb Senior How" Mince, Inc. - Juno 1. 1995 Page 2 Benefits: ► Construction starts right away - could be as soon as June 22. 1995 ► Interest rates reduced 50 basis points o Rents reduced epproodmatey S101month ► Condllfonal use permit issue goes away P. Benefits • cash flow increase to 1.2• Neud Steps: ► TEFRA hearing City Coundl on June 12 (2 week notice) HRA - modily TIF and Development Plan (can happen at any meeting) dba Mississippi Shores ► Purchase Agreententfland ► C MruWon review finalized and positioned - begin ► Borden - finish Handal fesaibliffy Bond documents completed Presbyterian Homes of Minnesota was incorporated in 1953. Key to Its start was Dr. West, Senior Paitor of tiouse of Hope Presbyterian Church and Dr. Kagln from Macalester coilege, among others. Since that tone, Presbyterian Homes has grown into an organkation with nine corporeUorts operating apprwdmatey 1,800 untie aanss the metropolitan area. Presbyterian Homes has three business focuses IncAidtrg: A. Nursing Homes S. Houehtg and Assisted Living C. Community Services Presbyterian Hornes serves epprwdmeiey 3,000 older adults each year, has 1.b00 employees and an operating budget of appm3dmatsly 40.000.000. Presbyterian Homes has idenlMed file opportunfly to serve older adults through tnjtftg affordable housing as one of Its ahateplc opIctns. End of Memo TAT' INCREMENT AFTER LOSS OF LOCAL GOVERNMEN I AIDS TAX ESTDAMED TAX AIMMSTRATIVE INCREMENT LGANET INCREMENT^ NPV TAXES CAPACFTY TOTAL WREMEMT INCOME LESS PRESENT NET FIRE SENT ADND4 PAYABLE RATE D4CRELIENT PENALTY ADMIN VALUE VALUE COSTS I m 1.129 0.00 0.00 0.00 0.00 o S w% a O.00% ®6b0% 1824 1.121 0.00 0.00 0.00 0.00 - - 1995 1.129 0.00 0.00 0.00 0.00 10.00 $0.00 $0.00 loge 1.121 0.00 0.00 0.00 000 3OA0 30.00 30.00 1997 1.129 42.295.57 0.00 1228 58 38.057.01 30 00 935.237.67 14,0D9 I1 lege 1.129 /2.215,07 0.00 4.229.58 78.067.01 $0.00 1e7,ee T2 11.90727 logo 1.129 02.295.57 0.00 4.228.69 30.067.01 $0.00 $08.078.00 111,4D/3e 2000 1.129 42.295.57 0.00 4.225.69 70.057.01 10.00 $126.049.84 114.621.17 2001 1.128 42.286.67 045.11 4,225.59 79,057.01 171780 1151,950.24 118.061.14 2002 1.128 42,255.61 1,801.17 4.228.56 78,057 01 1ZD96.96 1175,937.97 121.123 98 2007 1.120 47,286.67 2,937.17 4,220.58 38,057,01 14.04899 1198.13197 $24.070.x5 2004 1.129 42.266.61 3,70.7.17 4,228 56 38.067.01 10.512.46 1219,691.60 126.789 07 2005 1.129 42,266.57 4.729.02 4.228.66 36,067.01 11,433.60 1277./71.81 129191.75 Igoe 1.129 42,295.57 5,67510 4.22556 78.067 01 $12,75084 1255.767 63 171,073 26 2007 1.129 42,298.87 1,021.11 4.220.66 39,06101 119,431.19 1271,66163 134.210 Is 2000 1.129 42,255 67 7.567.17 4.220.56 38.06101 $20.411.75 1208.60158 336.447 99 2009 1.120 42.295.57 GA1 ].15 4218 66 36,061 01 $24.666,42 1700.794 01 179,562 08 2010 1.120 42,765 57 1.458.13 4.228 56 38,0ti1 01 32o,12e es $313.75100 110,560 31 2011 1.1» 42,286.57 - - 10,406 12 - - 1,228 % 30,061 01 --- }}]]7,787.00 - 741.11 444 48 -2012 - -- - -1.120 42,293.51 11,361.19- 4X18.66- 79.067.01 371607.17- .6510 .23094 2013 1.129 42.255.5? 12201.71 4,7]9 56 31.061.01 143,569.D2 1317.141 27 W,241 et 2014 1.121 42,280.57 13243 n 4.228.58 38.057 01 149.606.96 1308.1104.00 147.154 00 2015 1.121 42,295 57 11,189.,0 4,22556 39.057 01 163.730 55 9385.461 21 349,097 92 2016 1.121 47.289.61 15,130.n 4.220.56 38.057.01 166,027.13 9317.641.33 150,602 07 2011 1.121 42,255 61 15,135.n 4,22050 38.051,01 $83644.16 9381.201 51 $51,900 56 2010 1.120 42.285.57 18,135.n 4X19 56 30.051.01 168,604,03 t386.2a 90 367109 es 2010 1.120 42,26501 15,135.n 4.22850 78,051.01 1rZ922.54 1754.601.49 PAM265 2020 1.121 42.28.7 67 75,135 13 4.219 24 73.051.01 Srl.WO 03 $400.0305 156,912 ro 2021 1.129 42.29561 15.173.17 4,22854 38,057.0/ 191.0790.1 9406.25006 159,12151 2022 1.129 0.00 15,175.n 0.00 000 194.34121 9406.25001 159.r21 b1 -""1.48811 105.113,92 931,42524 K54121 106.200.06 CA771,1 HRA AGENDA JUNE 6, 1995 5. Consideration of a TIP Lealslative Undate and the aonroval to withdraw modification of TIF Plans for TIF Districts Nos. 1-1 through 1-11. A. Reference and Backqround: Enclosed is a copy of a letter from Attorney Bubul summarizing the final tax increment legislation. As mentioned, there is no immediate need to put a "qualified plan" or contract in place in order to lock -in the use of existing increment. Therefore to allow flexibility and additional time for consideration of the matter, the HRA should consider a motion to withdraw modification of TIF Plans for TIF Districts Nos. 1-1 through 1-11. At the May HRA meeting, Public Resource Group, Inc. (PRO) was authorized to notify the taxing jurisdictions of the fiscal impact only on the proposed modification. As a preliminary suggestion, the HRA discussed a budget for the $3.5 million dollars: $100,000 for redevelopment of Katzmarok property, $1.4 million for Fallon 0vorpass, and remaining balance for expansion of the waste Water Treatment Plant. Koropchak informed Administrator Wolfoteller to transfer TIF pooling dollars to the City e rctlring the HRA debt of $90,678 for Lots 5 and 6, Block 3, DIP. The interest rate was 8%. In the near future, the HRA should reconsider priority projects as the issue will apparently resurface in 1906. B. Alternative Action: 1. A motion to withdraw modification of TIF Plans for TIF District Nos. 1-1 through 1-11. 2. A motion to proceed with the modification of TIP Plano for TIF District Nos. 1-1 through 1-11. 3. A motion to table any action. C. Recommendation: Recommendation la for Alternative Action No. 1, the rebye allowing HRA flexibility and additional time for expenditure of the $3.5 million TIF pooling dollars. D. Supporting Data: Copy of Attorney Bubul'o lottcr. Page 1 ADw..n RL Ln 108DIT A. Auo/ 14 IO.ALD H. 6ATrT 7Tuw J. amm Joml a. Dun 114.E G. DOUM LTL►ANR K GALRT Collar A. HLDR JAm D. Hous. DAVID J. LI"ZDT JOHN R. LAB" CRARI.O L LAFIVIn Jan" M. tArr LL. JL Room J. L NDALL ROLLLT C. LDRD 011ie Kotopchat Economic DevelMment Director City of Monticello P.O. Box 1147 Monticello. MN 55362-9245 HOLMES & GRAVEN CHARTERED Pftb.T cm.. mu..Pft we..b ssAm 4611) 137-03" JAMS LL ETRONOW JA.a. J. THOMWKn Y. R.LRI J1f.gi1 I..VT LL WTRRWEDH BORER L VVUAM JOR T. TANG D.M L GUA'a 11MMU WRITER'S DRECr DIAL or LOUNM 1sW 3374M ROLRT C. CARL" RO=M L DAMS" May 26. 1995 wnAnsawn a LAw T. JAW SALMM RE: Tax Increment Legislation Dear 011ie: Enclosed is a summary of the Mai tax increment legislation along with a copy of the bill. It was a gruelling session. but the end result is not as damaging as we had anticipated The highlight is what is not Included. The Mal legislation does not restrict spelling of increment from any district created before the effective date of the act As a result. there is no immediate meed to put "qualified plans" or contracts in place in order to lock -in the use of existing incremem. However, this Issue will certainly resurface in 1996. On the positive side. the bill pmvides a local match alternative to de local government aid penalty for new districts, which may benefit some authorities and titles. For any districts created after June 30. 1994, an authority may elect to apply nils new provision anytime by the end of 1995. On the negative side. new soil condition districts have been restricted to pollution cleanup only. and pooling for new districts has been dropped hom 25 percent of the increment to 20 percent Restrialons on special laws will also make that option less attractive In the futum. Thr bill (which Is pan of the amnibku tax bill) has not yet been signed by the governor, but there have been no reports of an expected veto. If you have any questions about the bill. please give me a call. Ve ly�yoolurs. J�� Stephen J. Bubul GJDO9U0 .^r. . HRA AGENDA JUNE 6, 1995 6. Consideration of a cost estimate for the modification of Plans for Redevelopment Protect No. 1 and TIF. A. Reference and Background: At the May meeting, HRA members requested a cost estimate from PRG and Holmes & Graven for modification of Plans. The subject arose with the consideration to authorize PRG to prepare for multi-modificationo: 1) Modification of the Plan for Redevelopment Project No. 1 (to enlarge the geographic boundaries), 2) Modification of TIF Plane for TIF District Nos. 1-1 through 1-11 (pre -1990 pooling dollars), and 3) Modification of the TIP Plan for TIP District No. 1-19 (increased senior housing budget). Enclosed is a copy of the response from PRG. Holmes & Craven Is not or should not be involved in the establishment or modification of Plans for Redevelopment Project No. 1 or TIP Districts. Holmes & Graven prepares the document(s) which outlines the dollar amount of TIP to the redeveloper and the terms and conditions associated with the assistance. It is my suggestion that the NRA consider enlarging the e geographic boundaries of Redevelopment Project No. I. if and when the HRA establlshos a now TIP District. Therefore, no action is necessary at this time. D. Supoortina Data: Copy of coot estimate from PRC. Pago 1 JRN-28-'00 SRT 00:50 ID: TEL N0: n189 P02 PUBLIC RESOURCE GROUP, INC. Marketing, Development d Finance Specialists TO: 011ie Koropchak, HRA Director FROM:, Leonard P. Kirscht DATE: May 31, 1995 SUBJECT: TIF Modifications Pursuant to your request, this memorandum has been prepared relative to the costs and economies of modifications to existing TIF Districts. Specifically these modifications typically involve budget revisions, program area additions , or both. 1 would estimate that these modifications can be completed, including notices, distribution, resolutions, and cash flow analysis, in 15 - 20 hours of PRG professional staff time, or $1,350 - S1,11M. While this cost should accommodate the modification of more than one district, 1 would suggest that PRG be allowed to quote a price, in advance, to provide protection to both ponies as they relate to unusually large or complicated projects. If you have any questions, please call me at (612) 550-7979. We appreciate the opportunity to work with you. dp I /2051Awater lane Nonho Suite 1100 ♦ Minnnpolu. Mnnewu 55111 • (612) 5347979 6 (612) 550.9121 Felt 4 r HRA AGENDA JUNE 6, 1995 T. Consideration of a legal ooinion from HRA Attornev Bubul. A. Reference and Background: At the May HRA meeting, Chairperson Larson requested Koropchak review with Attorney Bubul for any legal ramifications the addition of a nineth criteria to the local TIF policies: The project shall be deemed to demonstrate community involvement and/or encourage local residency. Attorney Bubul will not have an opinion available for the June HRA meeting. His plan is to have a research clerk review the request in conjunction with constitutional limitations. I anticipate a response by the July HRA meeting. r HRA AGENDA V JUNE 6, 1995 8. Consideration to nominate and elect a Vice -Chairperson of the HRA. A. Reference and Backaround: With the resignation of Vice -Chairperson Ben Smith and a full five-mombor commission, HRA members should elect a Vice - Chairperson in accordance with the BYLAWS OF THE HRA, ARTICLE II OFFICERS, Section 8. Vacancies. Should the office of Chairperson, Vice -Chairperson, or Secretary -Treasurer become vacant, the Authority shall elect a successor from Ito membership at the next regular meeting, and such election shall be for the unexpired term of said office. When the office of Executive Director, becomes vacant, the Authority shall appoint a successor, as aforsaid. Secondly, Section 3. Vice-Chairoeroon. The Vice -Chairperson shall perform the duties of the Chairperson in the absence or incapacity of the Chairperson; and in case of the resignation or death of the Chairperson, the Vico-Chairperoon shall perform such duties as are imposed on the Chairperson until ' such time as the Authority shall select a now Chairperson. The Itom is open for discussion and nominations. B. Alternative Actions: A motion to nominate and elect an NRA Commissioner as Vice -Chairperson of the Monticello HRA. 2. A motion to table any action. C. Recommendation: Staff believes all commissioners, with the exception of the Chairperson, aro viable candidates for the office. One criteria for consideration may be availability of an Individual. HOLMES at GRAVEN armed r 200 South SIM Sueee, Supe 470 �ti t MN 55402 `i (612) 337-93W V May 20, 1995 CITY OF MONTICELLO P 0 BOX 1147 MONTICELLO, MN 55362-9245 MN 190-00048: Senior Housing TIF Invoice 0 1434 Through April 30, 1995 For All Legal Services As Follows 04/03/95 SJB Phone call with 0. Koropchak and T. St. Hilaire re 0.75 93.00 TIF issues 04/05/95 SJB Attend HRA meeting re Contract; phone call with 1.30 161.20 O. Koropchak re same 04/20/95, SJB Phone call with 011ie Koropchak and Rick 1.00 124.00 Wolfsteller; draft City TIF resolution Total Services: S 378.20 Attorney Summary Stephen Bubul 3.05 © 124.001hr 378.20 For All Disbursements As Follows: 04/20/95 Postage 2.20 Total Disbursements: S 2.20 Total Services And Disbursements: S 380.40 HOLMES at GRAVEN 0wo"o 200 South S1W Scat, Sulo 470 MMutapaW, MN SS402 (612)337-9300 May 22, 1995 CITY OF MONTICELLO P O BOX 1147 MONTICELLO, MN 55362-9245 MN 190-00041: Redevelopment - General Invoice # 1477 April 30,1995 For All Legal Services As Follows: 04/05/95 SJB Attend HRA mating re plan modification and 1.00 124.00 HACAatrate�ies 04/17/95 SJB Phone cell with 0. Koropchak re TIF pool plan 0.20 24.80 04/21/95 SJB Review TIF bill; letter to 011ie Koropchak re same 0.30 37.20 0426/95 SIB Phone call with 011ie Koropchak re TIF Planning 0.75 93.00 and TIF Bill; letter to Gene Ranieri 04/27/95 SJB Phone call with 011ie Koropchak re TIF Plans and 0.40 49.60 TIF bill Total Services: S 328.60 Attorney Summary Stephen Bubul 2.65 Q 124.00/hr 328.60 For All Disbursements As Follows: 04/21/95 Postage 3.40 Total Disbursements: S 3.40 Total Services And Disbursements: S 332.00 I dadns, ardor pmuln of tow to thb aeootuadalm or dwt= bW91 and 00 to n °tea melcaq &-Carion ATTORNEYS AT LAW Po. am 41! ]U WMI &MOr�y MOMIC6110, MWwsow 5SM464 JAMES 0, METCALF TELEPHONE BRADLEY V. uAsoN (612)�� April 25, 1995 METRO (812) 421-3393 FAX (6 12) 2953132 Cinco Corporation P. O. Box 185 St. Cloud, Minnesota 56302-1185 Gentlemen: Please be advised that we are the adjoining land owners to the east of the post office. I believe you own the building and rent to the United State Post Office department. Over the years we have had some discussion with your predecessors in title with regard to the driveway that your patron's use through our parking lot. In the past there has been no desire on the part of you or your tenants to participate in the cost of maintaining the driveway which exists primarily for your benefit. Therefore, we are putting you on notice that on August 1, 1995, the drive will be terminated at our common boundary lines unless, prior to that time, you contact us and we reach an accord with regard to future sharing of expenses with regard to the driveway and its maintenance. Respectfully yours, METCALF S LARSON 4:� By: Bradley V. Losorf, Esq. BVL/gls / cc: United State Post Office ATTENTION: Postmpster City of Monticello JJ ATTENTION: Jeff O'Neill Broadway Partners PUBLIC NOTICE FOR rOUR'NF0AA1AT1pH Pursuant to the provisions of Minnesota Statutes 471.704, a special meeting of the Ronticallo HRA is hereby scheduled for the following time, date, and place: TIME: 7 p.m. DATE: Tuesday, June 6, 1995 PLACE: ftnticello city Hall SUBJECT: Rescheduled regular meeting