EDA Agenda 04-11-2018AGENDA
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, April 11th, 2018 — 6:00 p.m.
Mississippi Room, Monticello Community Center
Commissioners: President Steve Johnson, Vice President Bill Tapper, Treasurer Jon
Morphew, Tracy Hinz, 011ie Koropchak-White and Councilmembers Lloyd Hilgart and Jim
Davidson
Staff. Executive Director Jim Thares, Jeff O'Neill, Angela Schumann, Wayne Oberg and Jacob
Thunander
1. Call to Order
2. Roll Call
3. Consideration of additional agenda items
4. Consent Agenda
a. Consideration of approving Regular Meeting Minutes — March 14, 2018
b. Consideration of approving Special Workshop Meeting Minutes — March 14,
2018
c. Consideration of approving Special Workshop Meeting Minutes — March 28,
2018
d. Consideration of approving payment of bills
e. Consideration of Preliminary Development Agreement with BP -Pines I, LLC
Regular Agenda
5. Consideration of Bondhus Corporation EDA-SCDP Loan Application
6. WSB Update Report
7. Director's Report
8. Closed Session — Consideration of recessing to closed session to develop or consider
offers or counter-offers for the purchase or sale of real or personal property pursuant to
Minnesota Statute 13D.05, Subdivsion 3(c)(3).
Address: 209 WALNUT ST., PID #: 155010036041
Address: 207 WALNUT ST., PID#: 155010036061
Address: 200 BROADWAY W., PID#: 155010036060
9. Adjourn
MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, March 14th, 2018 — 6:00 p.m.
Mississippi Room, Monticello Community Center
Commissioners Present: Steve Johnson, Bill Tapper, Jon Morphew, Tracy Hinz, 011ie
Koropchak-White, Lloyd Hilgart, and Jim Davidson
Staff Present: Jim Thares and Angela Schumann
1. Call to Order
Steve Johnson called the meeting of the EDA to order at 6:00 p.m.
2. Roll Call
3. Consideration of additional agenda items
BILL TAPPER MOVED TO APPROVE THE CONSENT AGENDA EXCLUDING
ITEMS A, B, C, AND F. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION.
MOTION CARRIED, 7-0.
4. Consent Agenda
a. Consideration of approving Regular Meeting Minutes — February 14, 2018
ITEM WAS REMOVED FROM THE CONSENT AGENDA.
b. Consideration of approving Special Workshop Meeting Minutes — February
14, 2018
ITEM WAS REMOVED FROM THE CONSENT AGENDA.
c. Consideration of approving payment of bills
ITEM REMOVED FROM THE CONSENT AGENDA.
d. Consideration of Escrow Agreement between Michael W. Froslie and
Kathleen A Froslie and City of Monticello EDA
Recommendation: Approve Escrow Agreement related to the purchase of 103
Pine Street as presented.
e. Consideration of Lease and Property Management Agreement with Michael
and Kathleen Froslie
Recommendation: Approve Lease and Property Management Agreement related
to the purchase of 103 Pine Street as presented.
f. Consideration of Northland Securities, Inc. contract for preparation of
Affordable Housing TIF District materials and plan
Economic Development Authority Minutes — March 14, 2018 Page 1 1 6
ITEM WAS REMOVED FROM CONSENT AGENDA TO ITEM 8.5.
4a. Consideration of approving Regular Meeting Minutes — February 14, 2018
Steve Johnson recommended changes to the regular meeting minutes for the
adjournment of the meeting with the motion made by Steve Johnson.
BILL TAPPER MOVED TO APPROVE THE REGULAR MEETING
MINUTES FROM FEBRUARY 14, 2018. TRACY HINZ SECONDED THE
MOTION. MOTION CARRIED, 7-0.
4b. Consideration of approving Special Workshop Meeting Minutes — February-
14,2018
ebruary14,2018
Steve Johnson recommended changes to the adjournment of the meeting with the
motion made by Bill Tapper.
BILL TAPPER MOVED TO APPROVE THE SPECIAL WORKSHOP
MEETING MINUTES FROM FEBRUARY 14, 2018. TRACY HINZ
SECONDED THE MOTION. MOTION CARRIED, 7-0.
4c. Consideration of approving payment of bills
Jon Morphew asked why there were two separate charges for two of the same
addresses from Kennedy and Graven. Jim Thares explained that it was an
additional amount that was charged.
TRACY HINZ MOVED TO APPROVE THE PAYMENT OF BILLS
THROUGH FEBRUARY, 2018. JIM DAVIDSON SECONDED THE MOTION.
MOTION CARRIED, 7-0.
Regular Agenda
5. Consideration of Purchase Agreement for 112 West River Street
Jim Thares explained that the property is located in a redevelopment area. The parcel is
just above 5,000 square feet, with a building of 3,432 square feet. The County Market
Value is listed as $93,000 for 2018. In 2006, the seller purchased the property under
contract for deed for $250,000. The EDA authorized to make a purchase for the property
at $370,000 with global settlement including all relocation benefits. The current owner is
Union Speed and Style and would be allowed to remain in the building for one year with
no rent charge.
Lloyd Hilgart recalled from a previous meeting that the current owners would be moved
by the end of the year. Thares indicated that they pressed to stay until March, 2019.
Thares stated that the direction by the EDA was to negotiate with the owner to state that
if a developer was interested in the land that Union Speed and Style would vacate the
premises. Thares stated it would be unlikely that a developer would be ready for
construction by March, 2019. Thares also indicated that all maintenance, utility bills, and
Economic Development Authority Minutes — March 14, 2018 Page 2 16
all other charges for occupying the building would be the responsibility of Union Speed
and Style until March, 2019. It was indicated that any unexpected charge under $10,000
(to be changed from $1,000 in the agreement) would be the responsibility of Union Speed
and Style. Thares also added that they would pay property taxes until they vacated the
building and any residual costs after their departure would be consumed by the EDA.
Thares would verify.
Angela Schumann stated that the EDA wanted it to be clear that in the purchase and lease
agreement that the seller is responsible for all property management responsibilities,
however the EDA would not be making any additional repairs or maintenance to the
building. The seller could leave at any time and turn the building over to the EDA prior to
March, 2019.
Steve Johnson asked if there are any assessments against the building. Thares indicated
he would check on that.
BILL TAPPER MOVED TO APPROVE RESOLUTION 2018-05 AUTHORIZING THE
PURCHASE OF THE COMMERCIAL PROPERTY LOCATED AT 112 WEST RIVER
STREET WITH REVISIONS AS NOTED ABOVE. JIM DAVIDSON SECONDED
THE MOTION. MOTION CARRIED, 6-0-1 WITH STEVE JOHNSON ABSTAINING.
6. Consideration of Downtown Business Improvement Program Group Meeting
Findings
Jim Thares indicated per direction at a previous EDA Meeting, staff was authorized to
meet with downtown property and business owners to talk about potential loan and grant
programs for fagade improvements, renovations and remodels, and energy efficiency.
Meetings were held on February 12th and 26th and were well attended.
A summary of the feedback was provided in the staff report. Thares hoped that during the
April EDA meeting a proposal of loan or grant program would be further considered.
Steve Johnson asked about the format of the program. Thares stated that staff would
utilize Central Minnesota Housing Partnership's process and forms to administer the
program. Thares explained the EDA would need to identify a funding source and approve
the terms of the program. Additional discussion ensued. Thares indicated at the next
EDA meeting, potential funding sources would need to be discussed.
7. Consideration of Downtown Building Facade Design Template Proposal
Angela Schumann explained that the Cuningham Group has prepared a proposal in
response to potential loan program offerings for areas such as facade improvements.
Schumann indicated that the Cuningham Group watched the January EDA meeting in
developing a proposal to match the EDA's discussion. Schumann understood from
previous discussions that the EDA would like to provide examples of improvements that
are consistent to the Small Area Study.
Schumann reviewed the Cuningham proposal. She noted that the cost of the services for a
Economic Development Authority Minutes — March 14, 2018 Page 3 1 6
visual companion to the Small Area Study would be $4,000.
Steve Johnson asked if there would be multiple design concepts developed. Schumann
indicated that they would provide a block template instead of individual design guidelines
for buildings in the scope area. Schumann also stated that the City recently hired a
Creative Art's Consultant that could also provide ideas to individual property owners.
Bill Tapper requested that Cuningham be asked to provide design layouts to individual
building property owners on an as requested basis. Schumann indicated that she would
check with Cuningham Group to provide an itemized proposal to work with individual
property owners as requested.
Discussion continued regarding how prescriptive a building and facade improvement
program should be for loans or grants. Schumann explained that the City also received a
proposal for a walkability improvement program. Schumann stated that more information
would be provided at the next EDA meeting.
BILL TAPPER MOVED TO APPROVE THE PROPOSAL BY CUNINGHAM GROUP
FOR DESIGN GUIDELINES FOR DOWNTOWN FAQADE IMPROVEMENT
PROGRAM. JIM DAVIDSON SECONDED THE MOTION. MOTION CARRIED, 7-0.
8. Consideration of Concept Review of Multi -family "Affordable Housing TIF"
Proposal
Jim Thares explained that Briggs Properties would provide a presentation for a multi-
family development proposal at the Master's Fifth Avenue site. He indicated that the
development site concept was recently reviewed by the Planning Commission and City
Council for preliminary comments.
Patrick Briggs, Briggs Properties introduced himself and provided an overview of the
project. A written narrative was provided explaining the general design concept and the
amenities. Briggs indicated that the property currently is under a redevelopment TIF
district, but that there is a restriction on utilizing increment dollars for the project due to
the amount of time the land has been undeveloped. Briggs indicated that building
materials and construction costs are increasing and he would not be able to proceed with
the project without TIF assistance. Ideally, he would like to start building by July or
August.
Lloyd Hilgart asked for clarity on the redevelopment district. Discussion pursued. Angela
Schumann explained that there is a five year rule that effects how a TIF district can be
modified including the budget and the amount of TIF the developer is eligible for. The
five year window was extended to ten years, however the ten years has since past. The
buildings were demolished to begin that ten year window. The only funds the developer
could seek is 25 percent of anything in excess of $170,000.
Economic Development Authority Minutes — March 14, 2018 Page 4 16
Briggs explained that with a new TIF affordable housing district, it allows a new slate to
start. Briggs stated the project would not be feasible under the current TIF district. Jim
Davidson asked if a new TIF district offers a new TIF value. Briggs confirmed stating
that it's based on the value of the project itself.
Steve Johnson clarified that the current redevelopment TIF district would be decertified
and an affordable housing district would be replaced. Briggs confirmed and stated a bank
would not finance the project under the current TIF district.
Tracy Hinz asked if there would it be enough time to set up the district by the
July/August construction schedule. Thares confirmed that is generally possible.
Additional discussion ensued regarding income restrictions for a set amount of units in
the facility.
JIM DAVIDSON MOVED TO CALL FOR SPECIAL MEETING TO REVIEW
FINANCIALS AND PROCESS FOR PROPOSED TIF PROJECT. TRACY HINZ
SECONDED THE MOTION. MOTION CARRIED, 7-0.
Thares clarified the date and time of the Special Workshop meeting as being Wednesday,
March 28th at 4:30 p.m.
8.5 Consideration of Northland Securities, Inc. contract for preparation of Affordable
Housing TIF District materials and plan
Steve Johnson indicated that this item would allow work to begin that is pertinent to the
information that needs to be discussed at the Wednesday, March 28th at 4:30 p.m.
meeting. Thares confirmed.
TRACY HINZ MOVED TO APPROVE NORTHLAND SECURITIES FINANCIAL
PLANNING AGREEMENT FOR SERVICES RELATED TO THE CREATION OF AN
AFFORDABLE HOUSING TIF DISTRICT AS PRESENTED. OLLIE KOROPCHAK-
WHITE SECONDED THE MOTION. MOTION CARRIED, 7-0.
9. Director's Report
Jim Thares provided an overview of the Director's Report.
Thares provided the EDA general fund balance, but noted that there are additional dollars
that can be spent from TIF districts on the acquisition of property. Steve Johnson also
explained that the tax levy dollars would be added by the end of June. Thares confirmed.
Thares added that Phase I — Environmental review documents were completed by Braun
Intertec for 103 Pine Street. No recognized environmental conditions exist on the
property.
Thares reviewed the prospect list with the EDA.
Economic Development Authority Minutes — March 14, 2018 Page 5 1 6
10. Adiourn
OLLIE KOROPCHAK-WHITE MOVED TO ADJOURN THE MEETING AT 7:42
P.M. BILL TAPPER SECONDED THE MOTION. MOTION CARRIED, 7-0.
Recorder: Jacob Thunander
Approved: April 11, 2018
Attest:
Jim Thares, Economic Development Director
Economic Development Authority Minutes — March 14, 2018 Page 6 1 6
MINUTES
WORKSHOP MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, March 14th, 2018 — 4:30 p.m.
Mississippi Room, Monticello Community Center
Commissioners Present: Steve Johnson, Bill Tapper, Tracy Hinz, Jon Morphew, 011ie
Koropchak-White, Lloyd Hilgart, and Jim Davidson
Staff Present: Jim Thares, Angela Schumann, and Wayne Oberg
1. Call to Order
Steve Johnson called the workshop meeting of the EDA to order at 6:00 p.m.
2. Roll Call
3. Overview of Services and Charge Rates - Buxton (Jacob Davis)
Jim Thares introduced Jacob Davis, Buxton, to the EDA and stated they would provide
an overview of their services and charge rates. They are a retail recruiter and have their
own proprietary demographic income database. They target retailers based on available
income in the community. Thares stated that their fees are typically $50,000 per year and
they prefer City's sign a three year contract.
Jacob Davis indicated that Buxton has worked in communities as small as 5,000 people
and as large as Los Angeles, California. He reviewed the potential services that Buxton
could bring to Monticello. It was stated that they partner with retailers on site selection
and cities to discuss their needs. Further discussion occurred about the cities that Buxton
has successfully helped. Buxton is currently working with the City of Wadena on their
economic development needs.
Steve Johnson stated that the EDA would look more into the services that Buxton can
offer. A future meeting will be scheduled to consider a contract with Buxton.
4. Adjourn
TRACY HINZ MOVED TO ADJOURN THE MEETING AT 5:42 P.M. BILL TAPPER
SECONDED THE MOTION. MOTION CARRIED, 7-0.
Recorder: Jacob Thunander
Approved: April 11, 2018
Economic Development Authority Minutes — March 14, 2018 Page 1 1 2
Attest:
Jim Thares, Economic Development Director
Economic Development Authority Minutes — March 14, 2018 Page 2 12
MINUTES
SPECIAL WORKSHOP MEETING - ECONOMIC DEVELOPMENT AUTHORITY
(EDA)
Wednesday, March 28th, 2018 — 4:30 p.m.
Boom Island Room, Monticello Community Center
Commissioners Present: Steve Johnson, Bill Tapper, Tracy Hinz, 011ie
Koropchak-White, Lloyd Hilgart, and Jim Davidson
Commissioners Absent: Jon Morphew
Staff Present: Jeff O'Neill, Angela Schumann, Jim Thares, and Wayne Oberg
Consulting Staff Present: Tammy Omdal, Northland Securities and Martha Ingram, Kennedy &
Graven, LLP
1. Call to Order
Steve Johnson called the meeting of the EDA workshop to order at 4:30 p.m.
2. Roll Call
3. Consideration of Briggs Properties Affordable Housing TIF District, 1-40,
Application
Jim Thares stated that Patrick Briggs submitted a TIF application for an affordable
housing TIF district. A concept proposal was presented to the EDA at the March 14th,
2018 meeting. Discussion ensued about the history of the TIF projects for the property
including previous, current, and proposed districts and uses. Thares explained that the
amount of increment generated by the current TIF district would very likely not be
sufficient for the proposal, which includes four stories with underground parking.
Angela Schumann explained how the proposed apartment complex conformed to the
Small Area Study. She stated that a joint meeting between the City Council and Planning
Commission occurred on March 6a', 2018 to discuss the Concept Stage Planned Unit
Development proposed by Briggs. Comments were received by the boards and provided
to the applicant. The proposal was amended by Briggs to consist of 44 units with 80
parking spaces. Discussion continued about the EDA's reaction to the revised concept.
Tammy Omdal, Northland Securities presented various possible financial scenarios
related to the Redevelopment TIF District and a potential new Affordable Housing TIF
District. Differences in increment yield were explained. Jim Thares provided a schedule
and stated if the EDA is comfortable with the schedule, that it could move forward with
authorizing preparation of preliminary development agreement and asking the City
Economic Development Authority Minutes — March 14, 2018 Page 1 1 2
Council to call for a Public Hearing to consider establishing Affordable Housing TIF
District # 1-40.
1-A. TRACY HINZ MOVED TO AUTHORIZE THE EDA ATTORNEY TO PREPARE
A PRELIMINARY DEVELOPMENT AGREEMENT BETWEEN THE EDA AND
BRIGGS PROPERTIES/BP-PINE 1, LLC, IN CONNECTION WITH THE
DEVELOPMENT OF AN AFFORDABLE HOUSING PROJECT. BILL TAPPER
SECONDED THE MOTION. MOTION CARRIED, 7-0.
1-B. BILL TAPPER MOVED TO ADOPT RESOLUTION #2018-06
RECOMMENDING THAT THE CITY COUNCIL CALL FOR A PUBLIC HEARING
FOR THE CREATION OF AFFORDABLE HOUSING TIF DISTRICT #1-40. JIM
DAVIDSON SECONDED THE MOTION. MOTION CARRIED, 7-0.
4. Review of Block 36 Land Use Development Patterns and Small Area Study
Intentions
Jim Thares provided a map with Block 36 and discussed the owners and the uses of each
parcel. Angela Schumann provided the goals of the Small Area Study and noted that
Block 36 was meant to include convenience retail, entertainment, restaurants, and retail
to get people in the downtown.
5. Adiourn
OLLIE KOROPCHAK-WHITE MOVED TO ADJOURN THE MEETING AT 6:04
P.M. BILL TAPPER SECONDED THE MOTION. MOTION CARRIED, 7-0.
Recorder: Jacob Thunander
Approved: April 11, 2018
Attest:
Jim Thares, Economic Development Director
Economic Development Authority Minutes — March 14, 2018 Page 2 12
EDA Agenda: 04/11/18
4d. Consideration of approving payment of bills (JT)
A. REFERENCE AND BACKGROUND:
Accounts Payable summary statements listing bills submitted during the previous month
are included for review.
B. ALTERNATIVE ACTIONS:
1. Motion to approve payment of bills through March 2018.
2. Motion to approve payment of bills through March 2018 with changes as directed
by the EDA.
C. STAFF RECOMMENDATION:
Staff recommends approval of Alternative #1.
D. SUPPORTING DATA:
A. Accounts Payable Summary Statements
Accounts Payable
CITY OF
Transactions by Account � o•
6effo
User: Debbie.Davidson
Printed: 03/07/2018 - 2:58PM 111 111
Batch: 00202.03.2018
Account Number Vendor Description GL Date Check No Amount PO No
213-00000-157010 PREFERRED TITLE INC Closing on Property @ 103 Pine Street 03/13/2018 118812 517,200.00
213-00000-157010 PREFERRED TITLE INC Fees - Closing on Property @ 103 Pin( 03/13/2018 118812 596.30
Vendor Subtotal for Dept: 00000 517,796.30
213-46301-431990 WSB & ASSOCIATES INC 2018 Economic Development Service: 03/13/2018 0 1,170.00
213-46301-431990 WSB & ASSOCIATES INC Relocation Assistance Related to Dow 03/13/2018 0 1,833.75
Vendor Subtotal for Dept:46301 3,003.75
213-46301-431990 HARRYLANTTO EDA Meeting Recording 2/14/18 03/13/2018 0 60.00
Vendor Subtotal for Dept:46301 60.00
Subtotal for Fund: 213 520,860.05
The preceding list of bills payable was reviewed and approved for payment.
Report Total: 520,860.05
Date: 4/11/18 Approved by
Jon Morphew - Treasurer
AP-Transactions by Account (03/07/2018 - 2:58 PM) Page 1
American Land Tide Association ALTA Settlement Statement - 6orrowerjBuyer
Adopted 05-01-2015
Preferred Title, Inc.
ALTA Universal ID
113 West Broadway, PO Box 727
Monticello, MN 55362
File No./ Escrow Na_
02017-18
Print Date & Time:
March 6, 2018 at 03:16•PM
Officer/ Escrow Officer: Kelly Erickson
Settlement Location:
113 West Broadway
Monftella, MN 55362
property Address:
MQnticeho, MN 55362
Borrower:
City of MwiJeeko Econornic and Development Authority
Seller:
Michael W, Frg6lie and Kathleen A. FrMlie
Lender:
Settlement [lake:
March 15, 2018
Disbursement Date:
March 15, 2018
Description Borrower{ Buyer
Fiaarr[9al
Debit Credit
Sale Price of Property
Assessments Cert to 2018 Tax
Prorations hd'ustinents
Cat," Taxes
0t/01/19 tD 03/15{1$
Loan Charges to
Fther Loan Ciriarges
ImPounds
Title Charges A Escrow / 5ettlenimint Chanes
Title - Owner's Title Insurance
to Preferred Title, Inc.
Coverage; $ 517,200.40
Premium: $ 1,344.00
Title - Closing Fee
Title - Exam Fee
Title - Name Search
TMe - Recording Servile Fee
to Preferred Title, Inc.,
to Preferred Title, Inc.
to preferred Tide, Inc.
W Preferred Title, Inc.
$ 517r200.00
$ 1,344.00
$ 250.00
$ 150.00
$ 30.00
$ 30.00
$ 592,66
$ 2,372,80
Copyright 2015Amerlcan LanOTrtle Aswdation (02017.1$.PFp}¢261T 16!17}
All nght5 reserved Printed on 03{Mj19 at 03:16 -PFT
ALTA Settlement Statement BorrowerlBuver - Continued
❑obit Credit
Commission
Government Recording and Transfer Char
Recording Fees to Wright County Recorder S 46,00
Conservation Fee LLP Wright County Tremrer $ S00
0
State Deed Tax to WRIGHT COUNTY TREASURER 51,706.76
Miscellaneous
Subtotals
gatance Due FROM
TOTALS
S 520,761.76
$ 524,751.75
5 2,965.46
$ 517,796.30
5 520,761,76
Acknowledgement
1VeJl +rave e4Fiaiuiay +-eviewed Irre ALTA Seltiement Statemenr arra find it rn be a me and accurate statement o€ all fweipts and
disbursements mace on my 3ccounl OF 5y mQ in tt„i, transaction and #urtTMtx clertify that I have mceived a copy of the ALTA
Battlement 5talemem. Well aumorrw #relerred TkW lne_ to causo tt•efr,nds m bedrsbrrsed tri aceanlance witb 1:11ligstalernant.
City of Mcndcello Economic
Development Auftrity
Kelly Erickson, Escrow Officer
Copyright 2015 American Land Title Association 17)
Al I rights reserved Print donOW06p}b at 03; 6l, PM
Julie Chemo
From: )irn Tha res
Sent: Tuesday, March 6, 2018 7:26 PIV
To: Julie Cheney; Sarah Rathlisberger; Wayne Oberg
Cc: Angela Schumann
Su4ject; Deoirnentation for Check to process for t )A acquisition of 103 gine Street
Attachments, Closing Notice. docx proposed Settlement Statement 3-6-2018,pdf fully ExerUtea
PA.vdf. v2 -Cash Position after land Purchases 3-6-208.xtsx
Julie, Sarah and Wayne, please see the settlementstatemexrt and the bar -cup documerft, the fully executed purchase
agreement for Chas property. The correct amount of funds needed to bring to the closing is $517,75130, please process
and debit the appropriate account for this purchase {same as prevlous transactions}. Let me know if you have any
questions_
Preferred Title, Inc.
The Preferred Way to Close
CLOSING NOTIFICATION
Dear City of Monticello Economic and Development Authority,
RE: File No. O2017-18 - Purchase of- Monticello, MN 55362
Congratulations on the purchase of your new propertyl We would like to share with you a few items
that will be important for you to know regarding your upcoming closing.
Closing Date and Time: 03{15{18 @ 11;00 AM
tocation of Closing: Preferred Title, lnc
113 West Brcadway
Monticello, MN 55362
You will be required to bring along 2 forms of ID, one of which needs to be a picture I D -
We will need your social security number and/or Federal Tax ID No.
Cashiers or Certified Funds made payable to Preferred Title, Inc. for the
balance of the down payment and closing costs.
We look forward to working with you and making your experience with Preferred Title, Inc, a great onel
Please feel free to contact us if you have any questions.
Respectfully,
Preferred Title, Inc.
�j
City of Monticello
Attn: Wayne Oberg, Finance Director
505 Walnut Street, Suite 1
MontiCeJlo, Mdr1 55362-86.31
2018 Econor„ ic Development Services
City Staff Reviewer - Jim Thares
CSL ACCE # 213.46341.431990
Phase 001
MOM* Retainer
Fee
Total Fee
Percent Complete
SDeciai Projects
Maass, Eric
Billings to Date
Fee
f,abor
Totals
Gornrnents,
Totals
Total Labor
70* 'Ell a Aver%L a aoudh. 5,11e 3iJn M nneapc us (Oti i t afYJC
February 22, 2018
PFoisv No; R-01 1 121-400
lr)VdCe No' 1
2018 Econornie Development Services
8,400.40
8.3333 Total Earned
Previous Fee Billing
Current Fee Billing
Total Fee
000
740.00
700.00
Tatar this Task $701}.00
4-
Approved by; }
B,, 9 a legacy yAx "acy
Equal OPPOrlunly Emaic"r I wgbgr,p ccm
Hours
Rate Amount
5.00
94.00 474-00
5.100
470.00
470,00
Total this Task
$474-00
Total this Phase
$1,170.00
Total this Invoice
$1,170-100
Current
Prior
Total
r
{+�
700.00
470.44
0.fl0
0.00
700.00
470.04
1,170.00
4,00
1,170.00
Approved by; }
B,, 9 a legacy yAx "acy
Equal OPPOrlunly Emaic"r I wgbgr,p ccm
Project R-011121.000 MONT - 2018 Economic Development Service Invoibe 1
Reviewed by- Bret We! SE
Project Manager: James Gromberg
PELp 2
A
WB
City of MdrGlicella
Attn: Wayne Qberg, Finance director
505 Walnut Street, 5uile 1
MonCiceily, FAN 55362-0831
]t Xenia Awer%ue S41.l1' ic.XQI Minneapes,s WN 55416 1 r 511 4 -C-0
February 22, 2018
Project Na; R-010965-000
Invoice No, 2
Relocation Assistance Related to Downtown Redevelopment
GL Acct 9 213-46301,431990
City Staff Reviewer • Jim Thares
Professional Serviegsirarn Janu -1, 2010 to January 31, 2018
Fee
Total Fee 30.766-00
Percent Complete 6,3764 Total Earned 2,577.25
Previous Fee Billing 743,50
Current Fee Billing 1,833.75
Total Fee 1.033.755 ,
Total this Invoice _ 51,833-T5"
Billings to Date J I
Current Prior Total
Fee 1,833.75 743.50 2,577.25
Totals 1,833.75 743.50 2,5577.25
Comments;
Approved by;
Reviewed by- Bret Weiss
Project Manager: Penny Ralf
Building a wgacy - your lega4 V
Ewa Opow -inly Employer J .iberg -rm
CHECK REQUEST
CHECK AMOUNT: * j 9-7- aD REQUEST DATE: A " a-1" /
Check to:
Meeting Worked:
Planning Commission
EDA Meeting
City Council
City Council
Total Due 4
Planning Commission:
EDA
9 13
Harry T. Lantto
907 — 2" Ave S
Buffalo, MN 55313
Date Time
Date " i`1 I Time • 5
Date 2 M I Time
3
Date Time
Le O
City Council !b I. 4-1110 . 43 1 q -t D 42-. c
Authorized by: Date r ;�-7 " 1
Vendor #
Amount Due
Amount Due
i! D
Amount Due
ipD
AmountDue
7"
TIME SHEETS ATTACHED
MONTICELLO COMMUNITY CENTER
TIME SHEET
Employee Name HARRY LANTTO
Position PUBLIC MEETING RECORDER - CONTRACT
DATE
TIME
IN
TIME
OUT
Hours
Worked
Meeting
yw,
ig u l
Meeting Payment $60 for first 3 hours
Agreement: $10 per hour for every hour after
MEETING RECORDER: Harry T.
SIGNATURE:
DATE: Z
r.
AUTHORIZED BY:
DATE:
Accounts Payable
Transactions by Account
User: Julie.Cheney
Printed: 03/21/2018 - 3:45PM
Batch: 00203.03.2018
Account Number Vendor Description
Monticello
GL Date Check No Amount PO No
213-46301-430400
KENNEDY AND GRAVEN CHAR] 224 East 4th St thru 2/28/18
03/27/2018
118855
213-46301-430400
KENNEDY AND GRAVEN CHAR] 103 Pine St thm 2/28/18
03/27/2018
118855
213-46301-430400
KENNEDY AND GRAVEN CHAR] 255 East Broadway St thm 2/28/18
03/27/2018
118855
213-46301-430400
KENNEDY AND GRAVEN CHAR] 112 W River Street thru 2/28/18
03/27/2018
118855
213-46301-430400
KENNEDY AND GRAVEN CHAR] General EDA Matters thru 2/28/18
03/27/2018
118855
213-46301-430400
KENNEDY AND GRAVEN CHAR] Landmark Square thru 2/28/18
03/27/2018
118855
Vendor Subtotal for Dept:46301
213-46301-431990 CENTRAL MN HOUSING PARTNI Feasibility Assessment Agreement 03/27/2018 118841
Vendor Subtotal for Dept:46301
213-46301-443990 DEMVI LLC April Parking Lot Easement MaintAgi 03/27/2018 118844
Vendor Subtotal for Dept:46301
The preceding list of bills payable was reviewed and approved for payment.
Date: 4/11/18 Approved by
Jon Morphew - Treasurer
Subtotal for Fund: 213
Report Total:
406.00
1,894.00
849.75
1,494.75
266.00
361.00
5,271.50
1,000.00
1,000.00
121.60
121.60
6,393.10
6,393.10
AP -Transactions by Account (03/21/2018 - 3:45 PM) Page 1
Rage: 2
Kennedy & Graven, Chartered
200 South Sixth Street, Suite 470
Minneapolis, MN 65402
MOnticello BDA
February 28, 2018
MN325-00036 224 East 4th Street
Through February 28. 2018
For All Legal Services As Follows:
Hours
Amount
2121}201$
CBR
Save document to system; email to lisle
0.25
31.75
212312018
CBR
Reuieuu pro -forms; aMai I to title'. entail to cliant
0.25
31.75
212512018
CBR
Review closing statement. ernaiIs to closer
025
31 75
D26f2018
MNI
Menkello pre-closing matters
0.80
152.00
2/2712018
CBR
Review pro -Forma and final closing stafernent, email to
1.00
127.D0
client; drafi claisng instruction letter
21 $ 018
CBR
Review a -mall and documents from closer. save to file
4.25
31 45
Total Services:
S
406.06
Total Services and Disbursements: S 406.00
Julie Cheney
From: Jim Thares
Sent: Tuesday, March 20, 2018 1:52 PM
To: Julie Cheney
Subject: RE: Kennedy & Graven Invoices (6)
Julie, these invoices are all okay. See below for coding.
From: Julie Cheney
Sent: Friday, March 16, 2018 3:41 PM
To: Jim Thares
Subject: Kennedy & Graven Invoices (6)
Jim
Attached are the following invoices from Kennedy & Graven:
MN190-00115 —Landmark Square - $361.00 213-46301-430400
MN190-00101 —General EDA Matters - $266.00 213-46301-430400
M N325-00038 —112 W River St - $1,494.75 213-46301-430400
M N325-00037 — 255 East Broadway St - $849.75 213-46301-430400
M N325-00036 — 224 East 4th Street - $406.00 213-46301-430400
MN325-00035 —103 Pine St- $1,894.00 213-46301-430400
Okay to pay? Please provide coding for each.
Thanks!
JuCte Cheney
Finance Assistant
City of Monticello
763-271-3205
Julie.Chenev@ci.monticel lo.mn.us
AP@ci.monticello.mn.us
city of
'- �c1Xwn
Email correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government Data Practices Act and may be disclosed to third parties.
MoritiwHo EDA
February 28, 2018
MN325-00035 103 Pine St.
Through February 28r 2018
For All Legal Services As Follows
Page: t
Kennedy & Graven, Chartered
200 South Sixth Street, Suite 470
Minneapolis, MN 55402
21$12018
CBR
Interoffice conference with M Ingram
21612018
MNI
Draft PA for Froslie property
21MOIS
MNI
Draft Froslie PA
21712018
CBR
EMai Is regarding contract; ❑rder fide cornMitment
21712018
MNI
Finalize and send PA for J`rosIie property
2f712016
MN1
DT3ft [annblg comm +and EDA reso4ikions approving
ourdhase of 103 Pine
2J912018
MIDI
PhoRe miff a Ma it discuSSlprr WItPr EDA staff regafding
proposea changes !a PA, revise aria firnaarze
212312D18
MR
Ema+llsvuithetlent and title regarding dosing, same
Purctrase Agreement to system
2120!2018
MINI
Review finalized PA
212612018
CBR
Review title commitment
212612018
MNI
Review title commitment; office conference with C
Rocklitz regarding title objection letter
Total Services-
HOUrS
0.25
2.50
2.30
0.26
1.20
0.80
190
0.25
0.20
0.25
0.40
S
Amount
31.76
475.00
437.00
31.7"5
22600
152.00
361 00
31.75
38.00
31 75
76.00
1,894.DD
Total Services and Disbursements; $ 1,894.00
Julie Cheney
From: Jim Thares
Sent: Tuesday, March 20, 2018 1:52 PM
To: Julie Cheney
Subject: RE: Kennedy & Graven Invoices (6)
Julie, these invoices are all okay. See below for coding.
From: Julie Cheney
Sent: Friday, March 16, 2018 3:41 PM
To: Jim Thares
Subject: Kennedy & Graven Invoices (6)
Jim
Attached are the following invoices from Kennedy & Graven:
MN190-00115 —Landmark Square - $361.00 213-46301-430400
MN190-00101 —General EDA Matters - $266.00 213-46301-430400
M N325-00038 —112 W River St - $1,494.75 213-46301-430400
M N325-00037 — 255 East Broadway St - $849.75 213-46301-430400
M N325-00036 — 224 East 4th Street - $406.00 213-46301-430400
MN325-00035 —103 Pine St- $1,894.00 213-46301-430400
Okay to pay? Please provide coding for each.
Thanks!
JuCte Cheney
Finance Assistant
City of Monticello
763-271-3205
Julie.Chenev@ci.monticel lo.mn.us
AP@ci.monticello.mn.us
city of
'- �c1Xwn
Email correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government Data Practices Act and may be disclosed to third parties.
Page; 3
Kennedy & Graven, Chartered
244 South Sixth Street. SURe 470
Minneapolis, MN 55402
Monticello Ef]A
February 28. 2018
MN325-00037 255 East Broadway St,
Through February 28, 2018
Fcr Ail Legal Services As Follows: Hours Amount
2112J2018 CBR RevFew cloisng statements: emaft with closer, request 1.25 158.75
proforma: draft inmruetierj letter
211312018 CBR Review and revise Preform; interoffice conference. 0.50 63.50
emails with title company
2/131201$ MNI Monticello clospng matters for 255 East Broadway 2.80 437.00
211412018 CBR ErnaiI5 regarding closing; review revised proforma and 1.50 190.54
settlement statements
Total Services= $ 849.75
Tota! Services and Disbursements' $ 849.75
Julie Cheney
From: Jim Thares
Sent: Tuesday, March 20, 2018 1:52 PM
To: Julie Cheney
Subject: RE: Kennedy & Graven Invoices (6)
Julie, these invoices are all okay. See below for coding.
From: Julie Cheney
Sent: Friday, March 16, 2018 3:41 PM
To: Jim Thares
Subject: Kennedy & Graven Invoices (6)
Jim
Attached are the following invoices from Kennedy & Graven:
MN190-00115 —Landmark Square - $361.00 213-46301-430400
MN190-00101 —General EDA Matters - $266.00 213-46301-430400
M N325-00038 —112 W River St - $1,494.75 213-46301-430400
M N325-00037 — 255 East Broadway St - $849.75 213-46301-430400
M N325-00036 — 224 East 4th Street - $406.00 213-46301-430400
MN325-00035 —103 Pine St- $1,894.00 213-46301-430400
Okay to pay? Please provide coding for each.
Thanks!
JuCte Cheney
Finance Assistant
City of Monticello
763-271-3205
Julie.Chenev@ci.monticel lo.mn.us
AP@ci.monticello.mn.us
city of
'- �c1Xwn
Email correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government Data Practices Act and may be disclosed to third parties.
P,ge: 4
Kennedy & Graven, Chartered
200 South Sixth Street, Suite 470
Minneapolis, MN 55402
Monticello EDA
February 28, 2018
MN325-00038 112 W. River Street
Through February 28, 2018
For All Legal Services As Fallows:
Hours
Amount
2113}2018 MNI
VOriticeIIo new 1-0I for 112 West River Street - review and
0.60
114.00
revise
2114!2015 MNI
Revise LOI for purchase of 112 West River Street; draft
200
380,00
resolution approving negotiation of PA; circulate
2/2012018 MNI
Review final Ldl. comments on same to J Thari�s
0.30
57.00
212812018 MNI
Draft PA
1 80
342.00
2/28/2018 CBR
Order title commitment
0.25
31.75
2 2812016 MNI
112 River PA
2.40
456.00
212&20118 MNI
Planning comm resp 112 River Street acquisition
0.60
114.00
Total Services:
1,494.75
;'I Total Services and Disbursements:
1,494.75
Julie Cheney
From: Jim Thares
Sent: Tuesday, March 20, 2018 1:52 PM
To: Julie Cheney
Subject: RE: Kennedy & Graven Invoices (6)
Julie, these invoices are all okay. See below for coding.
From: Julie Cheney
Sent: Friday, March 16, 2018 3:41 PM
To: Jim Thares
Subject: Kennedy & Graven Invoices (6)
Jim
Attached are the following invoices from Kennedy & Graven:
MN190-00115 —Landmark Square - $361.00 213-46301-430400
MN190-00101 —General EDA Matters - $266.00 213-46301-430400
M N325-00038 —112 W River St - $1,494.75 213-46301-430400
M N325-00037 — 255 East Broadway St - $849.75 213-46301-430400
M N325-00036 — 224 East 4th Street - $406.00 213-46301-430400
MN325-00035 —103 Pine St- $1,894.00 213-46301-430400
Okay to pay? Please provide coding for each.
Thanks!
JuCte Cheney
Finance Assistant
City of Monticello
763-271-3205
Julie.Chenev@ci.monticel lo.mn.us
AP@ci.monticello.mn.us
city of
'- �c1Xwn
Email correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government Data Practices Act and may be disclosed to third parties.
Page- 1
Kennedy & Graven, Chartered
200 South Sixth Street. Suite 474
Minneapolis, MN 55402
City of Montice !c
February 28, 2018
MN190.00101 General EDA Matters
Through February 28, 2018
For All Legal Services As Follows: Fours Amount
212 W2 018 MNI Monthly finance call with EDA staff, North ami 1.40 266.Dp
Total Services: $ 266,00
Total Services and Disbursements: $ 266,00
s LE
'I
Julie Cheney
From: Jim Thares
Sent: Tuesday, March 20, 2018 1:52 PM
To: Julie Cheney
Subject: RE: Kennedy & Graven Invoices (6)
Julie, these invoices are all okay. See below for coding.
From: Julie Cheney
Sent: Friday, March 16, 2018 3:41 PM
To: Jim Thares
Subject: Kennedy & Graven Invoices (6)
Jim
Attached are the following invoices from Kennedy & Graven:
MN190-00115 —Landmark Square - $361.00 213-46301-430400
MN190-00101 —General EDA Matters - $266.00 213-46301-430400
M N325-00038 —112 W River St - $1,494.75 213-46301-430400
M N325-00037 — 255 East Broadway St - $849.75 213-46301-430400
M N325-00036 — 224 East 4th Street - $406.00 213-46301-430400
MN325-00035 —103 Pine St- $1,894.00 213-46301-430400
Okay to pay? Please provide coding for each.
Thanks!
JuCte Cheney
Finance Assistant
City of Monticello
763-271-3205
Julie.Chenev@ci.monticel lo.mn.us
AP@ci.monticello.mn.us
city of
'- �c1Xwn
Email correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government Data Practices Act and may be disclosed to third parties.
Page
Kennedy & Graven, Chartered
244 South Sixth Street. Suite 470
Minneapolis, MN 55402
City of Monticello
February 28, 2018
MN190-00115 Landmark Square (Commercial Development)
Through February 28. 2018
For AlI Legal Services As f=ollows: Hours
212812018 11 NI Masters f=ifth assignment - phone convematiorl with J 1 9a
Thares and draft assignment of conlracl to $ngg5
Total Services
Total Services and Disbursements: 5
DV
Amount
361.00
361.04
36'1.00
Julie Cheney
From: Jim Thares
Sent: Tuesday, March 20, 2018 1:52 PM
To: Julie Cheney
Subject: RE: Kennedy & Graven Invoices (6)
Julie, these invoices are all okay. See below for coding.
From: Julie Cheney
Sent: Friday, March 16, 2018 3:41 PM
To: Jim Thares
Subject: Kennedy & Graven Invoices (6)
Jim
Attached are the following invoices from Kennedy & Graven:
MN190-00115 —Landmark Square - $361.00 213-46301-430400
MN190-00101 —General EDA Matters - $266.00 213-46301-430400
M N325-00038 —112 W River St - $1,494.75 213-46301-430400
M N325-00037 — 255 East Broadway St - $849.75 213-46301-430400
M N325-00036 — 224 East 4th Street - $406.00 213-46301-430400
MN325-00035 —103 Pine St- $1,894.00 213-46301-430400
Okay to pay? Please provide coding for each.
Thanks!
JuCte Cheney
Finance Assistant
City of Monticello
763-271-3205
Julie.Chenev@ci.monticel lo.mn.us
AP@ci.monticello.mn.us
city of
'- �c1Xwn
Email correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government Data Practices Act and may be disclosed to third parties.
Jim Thares
From:
Jason Krebsbach <jason4cmhp.net>
Sent:
Tuesday, March 20, 2018 11,26 AM
To:
Jim Thares
Cr.
Ed Zimny (ed@cmhp.net)
Subject:
Re: Map of Valuations
Attachments:
r -MHP -CITY feasiblity assessment agreement -draft 3_20_18.docx
Hello Jim -
I've attacht~d a dira€t F asibility Assessment Agreement for VoiAr review, This woUtd table the piElce of
the Grant Applicaboo Agreement that we 0xectJte with cities when writing ars SCDP giant appNcatian.
Piease lat me know if you have any qu8stl0l's Or cornrrlPM . OnCe we �ava an weculed agreement
arta are in receipt of our $1.000 fee we would bQ ready to conduct tt-iry windsihield survey and start the
Proce55 As of rig hi now, the weeks of 112 2rtd or April 9th work best For Ed and i
Thank you,
,Jason Krebsbacti _ — --
Central Minnes❑la Housing Partnership, arts.
Community Devetopmeut Director
37 28th Ave_ Norlh Suite 4142 - St. Gaud, MN 5a 303
CMHP main office: (320) 259-0393
Direct phone; (320) 258-0872
Emajf: Jason*crnhP.ne!
Web: www.cmhp.net
_,4�I
-)qVC
When yuu #Startl ithaSmile, Arnazon donates 0.5% of the purchase price b Central Minnesota Hausing
Partnership ine. Bookmark this link AmazonSm[le and support us every time you shop,
Ort Mon, Mar 19, 2018 at 4:51 PM, Jiro Thares <Jim.Thares(m—ci,monticello inn us> wrote:
Jason and Ed, here is one map that may yet he tweaked again_ It is a starting paint for potential properties that
are possibly in need of rehab work_ Z inay have a couple more snaps to send to you later this week as
well. When do you think you will want to (x)nduct a windshield survey? Let me know, ''hanks,
CONTRACT FOR SERVICES FOR
FEASIBILITY ASSESSMENT SERVICES FOR POTENTIAL
COMMERCIAL REHABILITATION PROGRAM
THIS CONTRACT for Feasibility Assessinent Services is entered into on
by and between the City of Monticello Economic Devela mens
Authority, a public body corporate and politic under the laws of the State of Minnesota,
hereinafter referred to as "EDA", and Central Minnesota Housing Partnership, Inc., a non-profit
corporation under the laws of the State of Minnesota. hereinatler referred to as "CMHP".
WHEREAS, The EDA has meet with CMHP to discuss the need for commercial rehabilitation
in areas of their residential and commercial district(s);
WHEREAS, The EDA has requested that CMHP provide feasibility assessment servicers for the
proposed residential and commercial rehabilitation program.
WITNESSED. In consideration of the mutual covenants and agrcemcnts containing herein, the
EDA and CMHP a ves as ioliows:
A. CMHP Feasibility Assessment R"ponsibilities:
I . CMHP wil l work with EDA to define the proposed activities of the program; to create
initial program parameters pertaining to proposed rchabiIitatien activities, target area(s)
and funding,
2. CMH P wiI l conduct windshield surveys and review valuation data of properties in
proposed target arca(s) to determine the Condition of properties, calculate esti matcd per
project rehabiIitatian costs and eva]uate redevelopment opportunities,
3. CMHP will work with the EDA anchor other local groups to detennine program financing
structure{terms, applicant eligibility and other program requirements,
4. CMliP w[II Wann research to collect demographic data of proposed target areas).
5. C M HP will assist in determining initial program hudget based on average rehabilitating
costs, leverage funds resources and number of proposed projects.
6_ CMHP will conduct community ineetings and provide additional outreach to generate a
program interest list.
D_ EVA Feasibility Assessment Responsibilities,
1, The EDA will submit to CMHP a payment of S 1.000.00 to covor costs associated with
feasibility assessrnent activities_ Payment shall be received before initial windshield
survey is conducted.
2. The EDA will provide to CMHP all relevant available data and/or inforinatinn to assist in
the feasibility assessment process, and Participate in other activities such as windshield
surveys) and community meeting.5.
C. Cancellation
This contract may be canceled by the EDA or CMHP at any time, with or without cause,
upon thirty (30) days written notice to other party.
D. Feasihi14 Assessment Completion
Upon completion ofThe feasibility assessment for the proposed contrnercial rehabilitation
progT m, the EDA and C M H P shall determine the program implantation steps and executed a
Program Administrative Agreement. if applicable.
CITY OF MONTICELLO ECONOMIC DUVELOPMENT AUTHORITY
A thorized Official Signature
e<�-<q4 tiJ e-��or
Printed Name & Title
&-Ld- Zef
Date
CENTRAL MINNESOTA ROUSING PARTN IERSHIP, INC., C~MHP
Authorized Official Signature
Deanna Hemmesch Executive Director
Printed (Paine & Title
Date
2
MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, February 14th, 2018 — 6:00 p.m.
Mississippi Roam, Monticello Community Center
C Drnmissiuners Prtscnt: Bill 'Tapper, Steve Johnson, Tracy Hintz, Jon 'uloillbew, 011ie
K-oropchak-White, and Jim Davidson
Commissioners Absent. Lloyd Hilgart
Staff Present; Angels Schumann, Jim Thares, and Wayne Ohcrg
1_ Call to Order
Hill Tapper called the regular tneelirtg of the IrDA to order at 6 PM.
?. Rall Call 6:00 ii.m.
3. Annual Business Meetin
a. Consideraiation to elect LDA Officers
TRACY HINZ MOVED TO ELECT 2018 OFFICERS. STEVE JOHNSON AS
PRESIDENT, BILL TAPPER AS VICE PRESIDENT, AND JON MORPHED
AS TREASURER. JIM DAVIDSON SEC0I4DED TILE MOTION- MOTION
CARR IED, 6-0-
b. Con sidc tion to review EDA Bylaws and Enabling Resolution
71ere was questions about Article IV Executive Director, ofthe Bylaws, Jim
-Iliares netted that the changc was accepted a the previous yeal''s meeting. 11
would work wish the City Clerk to ensure the final version would he cA)II-ect.
c. CUnsidentlion of EDA fund balance inforntatlon
Wayne Oherg provided an overview of the EDA Fund balance,
Bill Tupper commented on the amount of expenditures for consulting services
It ways noted that the Ieasl restrictive amowtt of money tha EDA could spend is
$2,051,D00.
4. Consideration of Addidolial a e da iterm
Bill Tapper asked Io add 7.5 and 7.6 c the agmdar were added by staff.
31M DAVIDSON M OVER TO ACCEPT THE ADDITION OF ITEM 7.5 ANI] 7-6.
OLLIE ICC?ROPCHAIC-WHITE SECONDED THE MOTION. iv10TiON CARRIED, 6-
0.
5. Consent Aaendn
BILL TAPPER MOVED TO APPROVE THE CONSENT AGENDA. JIM DAVIDSON
SECONDED THE MOTION. MOTION CARRIED, 6-0,
a. Can 5idera#ion ofavilirovinip Reg ular Meeting Minutes — Jan etary 10'h,24188
Recommendaiiun. Approve regular meeting minutes — January 10'h, 2418.
h. Consideration of apprGvin Serial Workshop M Wing Minutes — jam aa
ry
10".2018
Recornrnendation: Appt'[rve special workshop meeting minutes — January 10'",
2018.
C. Consideration of appraving PaYment of bills
Recommendation: Approve payment of bills through January, 2018.
d. Consideration of 2018 Farm Lease with Tom andfor Matt Spike at S1 100 far
13,6 acres
Recominendation: Authorize the EDA Executive Director and President to
execute the Fami pease agreement for Outlot F, Otter Creek Crossing as drafted.
Regular Agenda
6. Consideration of Eur+cbase Atereement for 103 Puke Street
Jim Tbates explained that the address covers three parcels {approximate] y totally 22,687
square feet) and is a core; block locaied in the Small Area Study. Thates stated the market
value of the property per Wright County is $430,800. The seller has the property listed
with KW Commercial Midwest for 5685,000 and the EDA put forward an offer S517,200
global offer to also include relocation costs for residential and commercial tenants in
addition_
The site is intcxkde;d for mixed use development. There is no development proposed at this
point. The property would be held for future devetopment proposals.
Thares mentioned in March the Planning Commission would consider wnsistencyof the
purchase with the Monticello Comprehensive Plan.
BiII 'Tapper asked about the closing. Thares slated rbe closing would be proposed for
March 15"' with a simultaneous closing of the home the seller is purchasing, Thares also
added Ihal the seller is not asking for earnest money. The sellera and the tenants would be
a]lowed to occupy the space until June 301"
Tracy Hinz asked if the EDA would be landlords after the signmed purchase agreement.
Thares confirmed, but added that no rent would be collected. At closing, a property
management agreement executed with the seller to take erre of the property as they have
been. The escrow amount the Cily requested would be used to cover legal fees iften$ntc
are not out of the building by June 3& or to pay for any unexpected costs (e.g. unpaid
utility bilis). The seller will also grant the buyer access to tl7e property to conduct
environmental tests prior to the closing date. There is a Int of personal property on the
site and would need to be removed prior to June 30`h.
Steve 10hns011 asked if relocation activities have been initiated witi� tenants in the
building. 11hares stated that the consultant — W 5B — has asked for a list of tenants. A
discussion regarding eligibiIity would be set up.
BILI, TAPPER MOVED TO APPROVE RESOLUTION 3418-03 AUTHORIZINO THE
IDURCHASE OF THE COMMERCIAL PROPERTY LOCATED AT 103 PINE
STREET. JIM DAVIDSON SECONDED THE MOTION.
Tracy Hinz asked what would happen i f a developer was interested in developing the land
prior to June 30"'. Angela Schumann responded that even if developer expressed
interest immediately that they woulld need tt,� complete environment a] review and apply
for land use applications.
MOTfON CARRIED. 5-0-1 WITH STEVE JOHNSON ABSTAINING.
7, Consid ratio of M Redevelo me t and Rehab Fees] Arial sis PrQ osal
Jing Th ares reminded the EDA of a spacial meeting with C M H p that was lied in January.
Thaivs stated the CMHP outlina l a possible scope of work (atta& d I tbt, staff repori).
Ci 1Y staff would wnrk with CMHP to provide data and conduct surreys. The total cost of
the Services would be S 1.000.
Steve Johnson asked what the specific goal of he service. Thanes stated it was 10 1 00 at
the cote grid 0 f Mont i cel lo. The goal would be to address huiIdirib, code issues 4nd
improve the duality of the homes. This servicc would be a rehabilitation provarn only
and would not include affordabie housing.
BIL4 TAPPER MOVED TO AUTHORIZE ENTERING INTO A FEASIB] UTY
ANALYSIS SERVICES CONTRACT WITH CMHP TO CONDUCT AN ANALYSIS
OF THE MERITS OF ESTABLISFIING A HOUSING AND COMMERCIAL
REDEVELOPMENT -REHABILITATION PROGRAM 1N TARGEMED AREAS OF
THE CITY. JON MORPHEW SECONDED THE MOT]ON
Steve Johnson asked if staff could also research CMIIF`s services for alLnrdable housing!,
while entering the proposed contract, Angela Schumann stated dvep in the scope that
C'MH13 provide evaluation of red evelow tent porential aver rehabilitation. In building a
relationship with CM it will help the EDA to understand their strength as a partner for
a redevelopment project.
Motion carried, 6-0,
7.5 Consideration n Axtboriz ing Letter of Intent 1.01 to ase hire 112 West River
Street
Jim 'I'll ares a xplairted that the latest draft of the Letter of Intent was provided in the staff'
report.
11e explained that the parcel is located in the redevelopment area of Block 52. It is a sinafl
lot, with access to River Street.
Thares said that the seller authorized an appraisal of their property, which the EDA
completed and paid for. The seller acquired the property in 2006 for $250,000, The
current offer by the EDA is $370,€!00 with a global settlement with all relocation
expenses included.
The goal of the property is to red eve] op the area with entertainment, restaurant, or mixed
uses.
Tracy Hier stated that the seller has a year to vacate the property, Thares confirmed that
they would have until March 3l ", 2019. The closing would occur on April I", 2018.
Hinz a]so asked what would happen if a developer was ready to develup the site prior to
the end of March, 2019. Thares stated the Purchase agreement states the seller's need to
vacate by March 31' . 2019, but that environmental review and land use application
process would need to occur prior. Angela Schumann stated that if properties would be
combined, they parcels would need to Platted. Schumann also added that if the EDA felt
strongly they could request a notification, timeline. Hinz recommended adding language
that if a developer was ready to develop,, thal the timeline for the sella In vacate would
be sooner.
TRACY HINZ MOVED TO APPROVE RESOLUTION 2018-04 AUTHORIZING
FNTERING INTO THE LOI FOR THE PURCHASE OF COMMERCIAL PROPERTY
LOCATED AT 112 WEST RIVER STREET, JIM DAVIDSON SECONDED THE
MOT[ON. MOT[ON CARRIED, 5-0-1 WITH STEVEJOHNSON ABSTAINING.
7.6 Consideration of Autharlizing.Quotes for Phase I Environmental Studies at 103 Pine
Street and 1]2 West River Street
Jim Thares stated that it was important for the I;DA to un&rsland environatentai issues.
There is nioney in the EISA general fund budget in the redevelopment activities line item.
Bill Tapper moved to $uthorize solicitation of quotes and further authorize staff to enter
into a contract for service with the entity that Provides the lowest, most vwnomiCal quote
for service in wrnp]eting a Phase I for pruperty located at 143 Pine Street and 112 West
River 5trw. 011ie KoA)pchak-Whig seconded the motion.
Jon Morphew asked how many quotes would he anticipated. Th ares responded three
quotes.
Steve Johnson stated that the EDA would give authorization to staff to compl�-te the
review if the cost was between 52,60044,200. The final quote would not need to be
approved by the EDA at an upcoming meeting.
4
_ Director's Re port
Ain 1114�res provided the Economic Development Director's Report_
AngeIa Schumann statod that the EDA would be sent via email the final veisi()a Of1he
sign with land far sale in Oiler Creek Business Park.
Thares also explained that staffinet With downtown business and property owners. A lot
of fccd back wow, received regarding pant or roan Fund progams to reoiavate their
buildings. Another rnaeting would be held an February 260'.
Thares reviewed the proSPW 1W with the PDA-
diourn
Fit I _i. 'TAPPER MOVED TO ADJOURN THE MEETfNG AT 7.07 P.M, OLLIE
WROPCHAK-WHITE SECONDED THE MOTION, MOTION CARRIED_ G -U.
Recorder- Jacob Thun ander
Approved: March 14", 2018
f,f
Attest.
Jird T rLs, Economic Dcvelopment Director
t1l
Julie Gene
From: Jim Thares
Sent: Tuesday, March 20, 2018 4:52 PM
To: Julie Cheney
Subject: Payment Request from CMHIP far Feasibility Services Work
Attachments: Payment documentation Requuest Packet.pdf
Julie, see attached coding and documentatiDn for $1,000 payment to CMHP. Per the email from Jason Krebsbach,
CMH P, they wiil need the check prior to starting any work on the Rehabilitation Program feasibility assessment. Let me
know if you have any questions,
Julie Chene
From- 0uIIseye Property Management < rn a ii @)mana ge b u 1 Idi ng.co rn >
Sent: Monday, March 12, 2018 106 AN}
To., AP
Subject- Lease statement #o( Broadway Parking Easement - COMMERCIAL • 2 a; of 3I' 2f2-1)18 �
BUIISeye PF0perty MarlageMerrt
Lease statement as of 3/12/2018
City of Monticello Economic Development Authority
35 Lace St
Suite 500
Big Lake, MN 55309
Date
Memo
Prior balance
0.00
12129/2017
Payment
1/1/2018
Common Afea Maintenance
21112018
Common Area Maintenance
211612019
Payment
31112018
Common Area Maintenance
31112018
Payment
41112018
Common Area Maintenance
Account #: 00405914
Amount
Balance
0.00
($97.09)
($97,99)
5121.50
$23.61
$121.60
$145.21
(5145.21)
$0.00
$121.60
$121.60
($121.60)
$0.00
$121.60
5121 60
Balance due: $121.60
i C4trj6k Lqk'(:S1 C7
Pavment is due by the 28th of the month.
Manage ,your account online: littp:flbullseveproperties.m2nagebuilding.com
Bk lseye Property Management 763-295-6566 admin a bullseve41 l ,com
1
Accounts Payable
Transactions by Account
User: Debbie.Davidson
Printed: 03/16/2018 - 8:48AM
Batch: 00201.03.2018
Account Number
Vendor Description
Monti"cello
GL Date Check No Amount PO No
213-46301-438200 CITY OF MONTICELLO 7256-003 - 349 Broadway W EDA 03/15/2018 0 14.38
Vendor Subtotal for Dept:46301 14.38
213-46301-443990 US BANK CORPORATE PMT SYS Monti Chamber - January Lunch (JT) 03/15/2018 0 15.00
Vendor Subtotal for Dept:46301 15.00
The preceding list of bills payable was reviewed and approved for payment.
Date: 4/11/18 Approved by
Jon Morphew - Treasurer
Subtotal for Fund: 213 29.38
Report Total: 29.38
AP -Transactions by Account (03/16/2018 - 8:48 AM) Page 1
Debbie Davidson
From: noreply@merchanttransact.com
Sent: Wednesday, February 7, 2018 9:30 AM
To: AP
Subject: Your bill from City of Monticello, MN is ready.
Attachments: 2118WEBINSERTS6.pdf
City of Monticello, MN
505 Walnut St, Ste 1
Monticello, MN 55362
763.271.3228
8AMto4:30PM
Account Information
Account:
Name:
Service Address:
Service Period:
Billing Date:
Due Date:
Meter Reading
Serial
53321062
Current Charges
007256-003
MONTICELLO EDA (213-46301)
349 BROADWAY W
1/1/2018 to 1/31/2018 (31 days)
2/6/2018
3/1/2018
Previous Reading Current Reading
Date Reading Date Reading
1/1/2018 188496 2/1/2018 188496
Water:
Water: CITY WATER - NON-TXBL
Water: ACH Credit - Auto Pay
Water: E -Bill Credit
Sewer: SEWER - COM/MONTHLY
Sewer: SW DISCHRG FEE - COM
MONTHLY 2%
Total Current Charges:
Bill Summary
Previous Balance:
Payments Received:
Adjustments:
Current Charges:
* Total Amount Due by: 3/1/2018
* This was the amount due at the time of billing.
To view your amount due at the current time and make a payment click here.
Auto payment is setup for this customer account, do not pay.
1
Cons
0
$0.00
$6.95
($1.00)
($0.50)
$8.75
$0.18
$14.38
$13.66
$13.66
$0.00
$14.38
$14.38
ate of
Transaction —
ra n5action
CITY OF MONTICELLO
Ghost Card Transaction
Please attach the invoice f receipt and any other available doctirnentalion to this form.
To he completed by purchaser:
Amount Ll 5 `(Z)
Cirde purchaser name;
Debbie Davidson
Expense Code
a A3 .
4ca�oi
Is OZ) QV)
Merchant: Monticello Chamber of Commerce industry
20.5 Pine Street PO Bax 192 I
Mani aello, MN 55362 7632962700
us
Older InfarrnH!ian
Dmcdplion: MOn#Joello Chamber lunches fay Jim, Ann, Rachel
Order Number. P_O_ Number:
Customer ID: invoice Ntunber 17489, 11499, 17507
B1NInN Information ShWing Information _
JOe Cheney
City of Mon1IG0110
I �4�
Payment InfOfm8tior.
batemme;
Trensoctron la-
Trensactlon Type:
Trans=icn Slaius,.
Authodzatk)n Code:
Payment Nlathod-
12-Feb,2016 08:4x;16 P Sr
60937848288
Authorization wf Auto Capture
t,aPltrre,QV%rkding Settlemem
058489
Ursa XXXXViSS
Shipping, a,DU
Tax: 0.00
Toted. USO 45A
Monticello Chamber of Commerce
PO Box 192
205 Fine Street
Monticello MN 55362
Bill TO
Rachel l.audenbach
FiberNet
150 Second St SW
Perham, MN 56573
--Description-
20
escfiption2018 Chamber L U& - January 161h at we (Raclxl Leonard)
,:H�eaLEE-1
Ii'l4vr
Date invoice #
1!23!2018 11507a
Due Date
2/712018
15.00
Trw+k yew For y .e e—ibm—t to the ma..patfro Cj- ber d CawvnerCL a +wdeu61y. 71.e M—tf944 C✓. -bar
rrpruer.;; " �t-LLtt6 of WgNd a r,d ;-YAF ro strl..60,M. 8aciine:eFes a.d tGawiGte ragiond P-Fpfn(y
hianiiee♦ao Cha.. w is ",.A & wV. as U.r •irant daor- N fwr fine 7f.0 CPW-b.r is a M. -Ca fdt
iwv'nessee, residents and W -i t -1 AI kf. F idkg ixfanr. t— dnd —igFt about tlti a.Y9, f++[t4rayiny aaanawue
ati! aawunanehj �awhF ... R��f+Pn {p d+.t+w1io}[KArfy welcomi..y re+lars !a tkl area.
Total $ 15.40
763-295-2700 marcy@rnonticcIlocci.com http://www.monticellocci.com
Julie Chene
From. Rachel Leonard
Sent: Thursday, January 25, 20TS 10:52 AM
To: Julie Cheney
Subject: Re; Monti Chamber Inv# 11507a $15.00
Yes, this is okay to pay_
Thank you,
Rachel Leonard
Communications Coordinator
City of Monticello
763-271-3275
ww .ci-monticello,mmus
Email correspondence to acrd from the Qty of Monticello government offices is subject to the M+nnesata
Government Data Proctices Act acrd may .be disclosed to third parties.
From: Julie Cheney - -
Sent: Thursday, January 25, 2018 10:4$ AM
To: Rachel Leonard
Subject: Monti Chamber invit 11507a $15.00
Rachel
Attached is the current invoice from the Monticello Chamber for your January lunch. okay to pay
Please provide coding_
Thanks,
_ U(Io (Ii 0?C,
Finance Assistant
City of Monticello
763-271-3205
,Tul i e. Ch eoey @ci.monticeIlo.mn.us
APGci.rnantpcello, mn.us
C11Y 01
Monticello
Email correspondence to and from the Oty of Monticello government offices is subject to the
MV n resota 60verrFment Data Practices Act and may be disclosed to third parties,
Montieel to Charnber c Commerce
PQ Box 192
245 Pine Street
Monticello MN 55362
Bill To
Accounts Payable
Monticello City of
545 Walnut Street Suite 91
Monticella, NII*! 55362
Description
2018 Chamber Lunch _January 16th as MCC (Jim Thar") -- —
Thank yrw for yaw r —Utlnt..t to" Mone€€Na C-kbmi mol ca k,4.tt & In"Uy. rr,e kmrieeno c1wrn6dr
-P"F—CF CFO ir'td dM aF k-ckwax a..d 10— tv 91"Vtk— b-1-4145 nra IN—Fnt€ +"fp—f p—,pperity
M11an[i�eNo CYwrn6er a proud eo- sew€ ii YIw "frond dour tO axe fin, r,ro. ,,jLy. r— d.,ra6er a a re 'ro For
bairRdsiei, rrsidrn a..d rm— ariY . prowwry infun Ifd and insight Abs f rka mmk eneor "" atvn—L
and rarnx5unity gruwdA i.. dddidion Eo eniArdi4LaigdN wrJror.Si..y rrptvm , tMr •"a
lftvazeliev
Date Invoice 4
1123/2418 11499a
Due date
2/712418
Amount
15,00
Total $15M
763-295-2700 marcya monti�elloccixom http-1/ v� w,rnoliticellocei.com
Julie Chene
From: Jim Thares
Sent: Friday, January 26, 2018 1011 AM
To: Julie Cheney
Subject: RE= Monti Chamber Inv# 11499a 515.00
Hi Julie, this is a 2D18 expense item. It is fine. Please code to: 213-46301-443990.
From: Julie Cheney
Sent: Thursday, January 25, 2018 1050 AM
To: Jim Thares
Subject: Monti Chamber Inv# 11499a $15,40
Jim
Attached is the current invoice from the Monticello Chamber for you January lunch. Okay to pay $15.007
Please provide coding.
Thanks,
. utie Cheney
Finance Assistant
City of Monticello
753-271-3205
,Ju i i e.Ch eney@ c i.moflt i ce I I a.mn , u s
APci.ntont ice.11c_mn.u5
Mont ic-xe-'110
Email correspondence to and from the City of Monticello government offices is subject to the
Minnesota Government pato Practices Act and may be disclosed to third parties.
Mont iceiIo Chamber of Com rnerce
PO Box 192
205 Pine Street
Monticello MN 55362
Bill Tip
Accounts Payable
Monticello Community Center
505 Walnut Street Suite 4
!Monticello. MN 55362
Deseriplion
2018 Chamhcr t:aincli - January 161h al MCC (Ann Mbsack)
Tkawk you for your eCn1.Wp.+ervf to O i M—tN.,Jfa zrka..,$ r t? Cannrn _ % rnd"trf THe MLwmfc,Vo Ch&—LOr
.Yp-Wg1 Jx tile int rats 4f 6rsr;.ele er.( serves to ctrrngrh - 6. mdlxs and F6—r Oge .1"a f pray {drib.
IAIvvi4&
Date Invoice
1123'2018 11489a
Due Date
2171201$
Amount
2 5.01)
rxe..tieeffa Ckornfaer is proved to W -O As " I'mt drar to ai.r {,..e sow.. un iy TU Jwn.fwr e ■ Rsaurce for
fblfi. fim, rbawfmt and rrsito afike. f v,,WhW Wm—.V— &.d i. ;.Jj.t mbout bk. aret enfq q:. g KanoN,ir
a.�d eOr..M4nily growhk in addrfio.. to -A-ai 1Fg CH tFe
Total WIN
763-295-2700 niarcy@monticellacci.corn http://www.monticellocci.com
Julie Chane
From: Ann Mosack
Sent- Tuesday. January 2, 2019 1237 PM
To: Julie Cheney
Subject: FW: Confirmation: 2018 Chamber Lunch - January 16th at MCC
Categories: Red Category
FYI- Chamber lunch bill - 226,45122-433100. 1 believe they invoice us correct?
Thanks!
Ann
From: infc@monticellocci.com [mailto:info i9rllonticellocci.cornj
Sent: Tuesday, January 02, 2018 12-31 PM
To: Ann Mosack <Ann.Mosack@ci,monticello.rnn.us>
Subject: Confirmation: 2018 Chamber Lunch - January 19th at MCC
Registration Confirmation
Your registration for 2418 Chamber Lunch - January 16th at MCC has been received.
Confirmation Number: e.12d3 5892.49966
Primary Contact: Ann Mosack (Uant+cehb Qommunity Cenjer)
Add to Calendar
Edit Registration
Summary
Item Descripftri
Lunch. Member Ann Mosacx
2018 Clamber Lunch - January 16th at MCC
Quantity Total Amt
1 $15.1
Total: $15,1
TOPIC; Monticello Chamber Sponsorship and Member Opportunities 2418
On Tuesday. January ,6th join us for Chamber Lunch at Monticello Community Center from 11:30-1 pm.
CATERED BY: A Catered Event
MENU:
BUSINESS LUNCH SPONSOR; Monticello Travel -Dean Smith
Treasure Chest Drawing
What sets our Chamber apart from ofhers? Our members became FRIE;VDS± Meet new rr tubers of Me business
cvmmunily and ofd Mendrs face to face whlfe you e4oy a deficious lunch_ W,- have a dffi mni speaker and top+c that
pertains to business each month. Bre your staff or (fiends. chamber LunCh rs open to all anyone.
I
Ontm: Jarkuary 16, 2018
Timm: 1 1.30 AM - 01:00 PM CST
1Nebsite: Montre tl0 Chamber
Location; Monticalic Commungy Center
505 Walnut St.
Monticello, MN.
Contact, MMUC0110 Chamber (7$3)295-2700
Small: i-ifmon r ellocci.corn
DatelTirne details: Tuesday. January 16th
t 1;30 am "istraticn & @uffel Dinner
12:00 Plpgram 8e9ins
FeeslAdmissloa, $13 .00 per person
Thank you forsupporlirgour Chamberevent. Margand Marie
Click H, -re #or More Inf am lion
6A 10lendar
Thank youl
Monticello Chamber of Commerce and Industry
Accounts Payable
Transactions by Account
User: Debbie.Davidson
Printed: 04/02/2018 - 10:55AM
Batch: 00215.03.2018
Account Number
Vendor Description
Monti"cello
GL Date Check No Amount PO No
213-46522-438100 XCEL ENERGY ZCULPS-EXPENS-51-0623082-8 ED 03/31/2018 0 17.54
Vendor Subtotal for Dept:46522 17.54
The preceding list of bills payable was reviewed and approved for payment.
Date: 4/11/18 Approved by
Jon Morphew - Treasurer
Subtotal for Fund: 213 17.54
Report Total: 17.54
AP -Transactions by Account (04/02/2018 - 10:55 AM) Page 1
7 xcelEnergy
RESPONSIBLE BY NATUREm
NORTHERN STATES POWER COMPANY Page f of 2
SERVICE ADDRESS
ACCOUNT NUMBER
' 'IA I
MONTICELLO EDA
51-0623082-8
03/05/2018
349 W BROADWAY ST
1-800-895-4949
Fax:
MONTICELLO, MN 55362-9356
STATEMENT NUMBER
STATEMENT DATE
r '
ACCOUNT BALANCE
579225603
02/05/2018
$17.54
YOUR MONTHLY ELECTRICITY USAGE
SUMMARY OF CURRENT CHARGES (detailed charges begin on page 2)
Email us at:
Customerservice@xcelenergy.com
Please Call:
Electricity Service 01/04/18 - 02/04/18 7 kWh
$17.54
1-800-895-4949
Fax:
Current Charges
$17.54
11 12 13
---
ACCOUNT BALANCE
16 17
F M A M J J
A S 0 N D J F
Previous Balance As of 01/04
$17.31
DAILY AVERAGES
Last Year
Payment Received Auto Pay 02/02
-$17.31 CR
Temperature
17° F
Balance Forward
$0.00
Electricity kWh
4.4 '
Current Charges
$17.54
Electricity Cost
$1.09 '
Amount Due
$17.54 0
QUESTIONS ABOUT YOUR BILL?
See our website:
xcelenergy.com
Email us at:
Customerservice@xcelenergy.com
Please Call:
1-800-481-4700
Hearing Impaired:
1-800-895-4949
Fax:
1-800-311-0050
Or write us at: XCEL ENERGY
PO BOX 8
EAU CLAIRE WI 54702-0008
Xcel Energy®
INFORMATION ABOUT YOUR BILL
Different fuel sources are used to generate electricity, and they produce different air
emissions. For updated environmental information forth e year ended 2016, go to:
www.xcelenergy.com/Rates, under Rates, go to Learn More, then Rates: Brochures &
Resources, and select Inside Your Electric Bill -Environmental Disclosure & Costs. If r
you don't have internet access, please contact us at 1-800-895-4999 and we can }=
provide you with this information.
Thank you for your payment.
RETURN BOTTOM PORTION WITH YOUR PAYMENT • PLEASE DO NOT USE STAPLES, TAPE OR PAPER CLIPS
ACCOUNT NUMBER DUE DATE AMOUNT r I i ' '
51-0623082-8 03/05/2018 $17.54 Automated Bank Payment o
31 51030518 06230828 0000000175400000001754
Your bill is paid through anautomated bank payment plan.
1
2 3
46
7
8
9 10
11 12 13
14
15
16 17
------ manifest line ---------
18 19 20
21
22
23 24
I"I�III"'I'I'II'IIIIIIII --IIIIII'
25 26 27
28
29
30 31
MONTICELLO EDA
505 WALNUT ST STE 1
MONTICELLO MN 55362-8822
I..I�III"�'I'�'�I'lllllll�ll�l'IIS'lll�l��ll�lll'I�I'I�IIII'I��'
XCEL ENERGY
P.O. BOX 9477
MPLS MN 55484-9477
31 51030518 06230828 0000000175400000001754
Xcel Energy
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Page 2 of 2
SERVICE ADDRESS ACCOUNT NUMBER IT I
MONTICELLO EDA 51-0623082-8 03/05/2018
349 W BROADWAY ST
MONTICELLO, MN 55362-9356 STATEMENT NUMBER STATEMENT DATE
579225603 02/05/2018 $17.54
SERVICE ADDRESS: 349 W BROADWAY ST MONTICELLO, MN 55362-9356
NEXT READ DATE: 03/08/18
ELECTRICITY SERVICE DETAILS
PREMISES NUMBER: 303657358
INVOICE NUMBER: 0709468341
ELECTRICITY CHARGES
RATE: Sm Gen Svc (Metered)
DESCRIPTION
USAGE UNITS RATE
CHARGE
Basic Service Chg
$10.00
Energy Charge Winter
7 kWh $0.079650
$0.56
Fuel Cost Charge
7 kWh $0.028571
$0.20
Decoupling Adj
7 kWh -$0.000291
$0.00
Affordability Chrg
$1.19
Resource Adjustment
$0.09
Subtotal
$12.04
City Fees
$5.50
Total $17.54
INFORMATION ABOUT YOUR BILL
Effective January 15, 2018, the monthly Affordability Charge on your bill increased by
$0.23 to fund an electric Low Income Energy Discount Program supplementto provide
assistance to qualifying customers with certified medical circumstances.
For an average non -demand customer, 69% of your bill refers to power plant costs,
14% to high voltage line costs, and 17% to the cost of local wires connected to your
business. For an average demand customer, 79% of your total bill refers to power
plant costs, 13% to high voltage lines, and 8% to the cost of local wires connected to
your business.
POP QUIZ!
Dimmer switches can help bulbs last up to times
longer if dimmed tr) half the brightness. Fill in the blank,
and learn haw installing dimmer switches could help
take your hgme or business W the bank.
A: 5 B: 10 iv; 20 D: 50
EDA: 3/28/18
4e Consideration of Adopting Resolution #2018-07 Approving Preliminary Developmenmt
Agreement with BP -Pines 1, LLC for Development of Multi -Family Housing (JT)
A. REFERENCE AND BACKGROUND:
This item is for EDA consideration of a Preliminary Development Agreement (PDA) with
BP -Pines 1, LLC (Briggs Properties, Elk River) in connection with the development of a 44 -
unit market rate, multi -family project with an affordable housing component. At the March
28, 2018 Special EDA, action was taken to authorize preparation of a PDA. The Preliminary
Development Agreement is essentially an agreement by both parties to continue working
toward a final formal Development Agreement setting out the terms and performance
requirements of both parties in relation to the development of the proposed apartment project.
Al. STAFF IMPACT: There is a limited staff impact in considering the PDA. The EDA
attorney drafted the resolution and the PDA. The Economic Development Manager and
reviewed and organized the prepared materials for consideration by the EDA.
A2. BUDGET IMPACT: The TIF application fee of $10,000 covers the cost of staff
involvement in reviewing and preparing the materials for consideration by the EDA
B. ALTERNATIVE ACTIONS:
1. Motion to adopt Resolution #2018-07 approving a PDA between BP -Pines 1, LLC and
the EDA in connection with the development of a 44 -unit market rate, multi -family
development with an affordable component.
2. Motion to deny adoption of Resolution #2018-07 approving a PDA between BP -Pines 1,
LLC and the EDA in connection with the development of a 44 -unit market rate, multi -family
development with an affordable component.
3. Motion to table adoption of Resolution #2018-07 approving a PDA between BP -Pines 1,
LLC and the EDA in connection with the development of a 44 -unit market rate, multi -family
development with an affordable component for further research and discussion.
4. Motion of other as determined by the EDA.
C. STAFF RECOMMENDATION:
Staff recommends that the EDA proceed per Alternative #1. The EDA reviewed and
commented on the proposed multi -family development project at the previous meetings and
directed staff to prepare a PDA for consideration at the April 11, 2018 meeting. The PDA, if
approved, it is an initial agreement wherein the EDA and BP -Pines 1, LLC, have and
understanding for continued discussion and negotiation to reach a formal development
agreement for consideration by the EDA at a future date.
EDA: 3/28/18
The proposed multi -family housing development meets a number of community objectives
outlined in the Downtown Small Area Plan and the City 2017 Strategic Plan. Primary among
those is that, if the project moves forward, it will provide additional housing units within the
downtown area and contribute to community and economic vitality.
D. SUPPORTING DATA:
a. Resolution #2018-07
b. Preliminary Development Agreement
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2018-07
APPROVING PRELIMINARY DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT
AUTHORITY AND BP-PINESI, LLC
BE IT RESOLVED by the Board of Commissioners of the City of Monticello Economic
Development Authority ("Authority") as follows:
Back rg ound.
1.01. BP-Pinesl, LLC (the "Developer") is in negotiations to acquire certain property in
the City, legally described as Lots 1, 2, 3, 9, 10, 11, 12, 13, 14, and 15 and the West 16.00 feet of
Lot 8, all in Block Thirty-six in the TOWNSITE OF MONTICELLO as of public record, Wright
County, Minnesota (the "Property"), which Property has been the subject of certain preliminary
negotiations with the Authority for purposes of constructing a multi -family residential development
on the Property and related parking (the "Development").
1.02. The Authority and the Developer have determined to enter into a preliminary
development agreement (the "PDA"), providing for negotiation of a definitive development contract
that will address (among other things) terms under which the Developer will construct the
Development on the Property, and the Authority may provide certain financial assistance if
warranted to make development by the Developer financially feasible.
1.03. The Board has reviewed the PDA, and has determined that it is in the best interests
of the Authority to approve and execute the PDA.
2. Approval of PDA.
2.01. The Authority approves the PDA, and authorizes and directs the President and
Executive Director to execute same in substantially the form on file, subject to modifications that do
not alter the substance of the transaction and are approved by the President and Executive Director,
provided that execution of the PDA by such officials will be conclusive evidence of their approval.
2.02. Authority officials and consultants are authorized to take any other actions necessary
to carry out the Authority's obligations under the PDA, and to bring a proposed definitive
development contract before the Authority.
Approved this 11th day of April, 2018, by the Board of Commissioners of the City of Monticello
Economic Development Authority.
President
ATTEST:
Secretary
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
PRELIMINARY DEVELOPMENT AGREEMENT
(Briggs Multifamily Housing)
THIS AGREEMENT, dated this _ day of April, 2018, by and between the City of
Monticello Economic Development Authority, a public body corporate and politic under the laws of
Minnesota ("Authority') and BP -Pines], LLC, a Minnesota limited liability company
("Developer"):
WITNESSETH:
WHEREAS, the Developer is negotiating the purchase of certain property within the City of
Monticello ("City"), which property is legally described in Exhibit A attached hereto ("Property");
and
WHEREAS, the Developer has submitted a preliminary proposal (the "Proposal") for the
development of the Property (the "Development"), a portion of which proposal is attached hereto as
Exhibit B; and
WHEREAS, the Developer has requested the Authority to explore the use of certain public
assistance to assist with the Development; and
WHEREAS, the Authority has determined that it is in the Authority's best interest that the
Developer be designated sole developer of the Property during the term of this Agreement; and
WHEREAS, the Authority and the Developer are willing and desirous to undertake the
Development if (i) a satisfactory agreement can be reached regarding the Authority'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 the 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 Authority is willing to evaluate the Development and work toward all
necessary agreements with the Developer if the Developer agrees to make the nonrefundable
deposit described herein, which is intended, in part, to reimburse the Authority for its costs if the
Development is abandoned by Developer 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
contract for private development ("Contract") based on the following:
(a) the Developer's Proposal, which shows the scope of the proposed
520543v1 MNI MN190-156
Development in its latest form as of the date of this Agreement, together with any changes
or modifications required by the Authority;
(b) a mutually satisfactory Contract to be negotiated and agreed upon in
accordance with negotiations contemplated by this Agreement;
(c) such documentation regarding economic feasibility of the Project as the
Authority may wish to undertake during the term of this Agreement; and
(d) other terns 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, the Developer shall:
(a) Submit to the Authority a design proposal to be approved by the Authority
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 overall 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 the Developer
may desire to further confirm the economic feasibility and soundness of the Development.
(e) Submit to the Authority the Developer's financing plan showing that the
proposed Development is financially feasible, and, to the extent Developer seeks public
financial assistance in any form (including reduced land cost, waiver of fees, and tax
increment financing), evidence that such assistance is reasonably necessary to make the
Development financially feasible.
(f) Furnish satisfactory financial data to the Authority evidencing the
Developer's ability to undertake the Development.
(g) Furnish any other information reasonably requested by the Authority in
connection with the Development, including without limitation information concerning
noise, environmental factors, and conformity with the Declaration of Restrictive Covenants
governing the Property.
520543v1 MNI MN190-156 2
4. During the term of this Agreement, the Authority agrees to:
(a) Commence the process necessary to undertake such public assistance as is
necessary pursuant to the terms of the Proposal, including without limitation
commencement of actions necessary to terminate all existing agreements and tax increment
financing districts related to the Property, and to create a new housing tax increment
financing district that includes the Property.
(b) Proceed to seek all necessary information with regard to the anticipated
public costs associated with the Development.
(c) Estimate the Authority's level and method of financial participation, if any,
in the Development and develop a financial plan for the Authority's participation.
5. It is expressly understood that execution of the Contract shall be subject to:
(a) A determination by the Authority in its sole discretion that its undertakings
are feasible based on (i) the projected tax increment revenues and any other revenues
designated by the Authority (to the extent requested by Developer); (ii) the purposes and
objectives of any tax increment, development, or other plan created or proposed for the
purpose of providing financial assistance for the Development, if any, including the
determination that such assistance is reasonably necessary in order to make the
Development possible; (iii) the best interests of the Authority.
(b) A determination by the Developer that the Development is feasible and in
the best interests of the Developer.
6. This Agreement is effective from the date hereof through August 31, 2018, unless
extended with approval of the Authority's board of commissioners. After expiration of the term of
this Agreement, neither party shall have any obligation hereunder except as expressly set forth to the
contrary herein.
7. The Developer shall be solely responsible for all costs incurred by the Developer. In
addition, the Developer shall reimburse the Authority for Administrative Costs, as hereafter defined.
For the purposes of this Agreement, the term "Administrative Costs" means out of pocket costs
incurred by the Authority and City attributable to or incurred in connection with the negotiation and
preparation of this Agreement, the Contract, and other documents and agreements in connection
with the Development, including without limitation all costs in connection with replatting of the
Property and the cost of financial advisors, attorneys, and planning, engineering, and environmental
consultants.
In order to secure payment of the Administrative Costs, the Developer has delivered to the
Authority funds in the amount of $10,000 upon submission of Developer's application for tax
increment assistance. If at any one or more times during the term of this Agreement, the Authority
determines that Administrative Costs will exceed $10,000 and that additional security is required,
the Authority shall notify the Developer of the amount of such additional security. Within ten
calendar days of receipt of this notice, the Developer shall deliver to the Authority the required
520543v1 MNI MN 190-156 3
additional security. The Authority will utilize the funds delivered by the Developer to pay or
reimburse itself for Administrative Costs. Upon termination of this Agreement, the Authority will
return to the Developer the funds paid by the Developer to the Authority pursuant to this Section 7,
less an amount equal to the Administrative Costs incurred by the Authority through the date of
notice of termination. For the purposes of this paragraph, Administrative Costs are considered to
be incurred if they have been paid, relate to services performed, or are payable under a contract
entered into, on or before the date of the notice of termination.
This Section 7 shall survive termination of this Agreement and shall be binding on the
Developer regardless of the enforceability of any other provision of this Agreement.
8. This Agreement may be terminated upon ten (10) days written notice by either
party to the other of any of the following events of default, only if such events of default shall
remain uncured during the aforementioned notice period:
(a) an essential precondition to the execution of the Contract cannot be met; or
(b) if, in the sole discretion of the Authority, an impasse has been reached in the
negotiation or implementation of any material term or condition of this Agreement or the
Contract.
9. During the term of this Agreement, the Authority agrees that it will not negotiate
or contract with any other party concerning the development of the Property. The Developer
shall not assign or transfer its rights under this Agreement in full or in part, or enter into any
subcontracts to perform any of its obligations hereunder, without the prior written consent of the
Authority.
10. In the event that the Developer, its heirs, successors or assigns, fail to comply with
any of the provisions of this Agreement, the Authority may proceed to enforce this Agreement by
appropriate legal or equitable proceedings, or other similar proceedings, and if the Authority is the
prevailing party, the Developer, its heirs, successors or assigns, agree to pay all costs of such
enforcement, including reasonable attomeys' 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.
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 Authority: City of Monticello Economic Development Authority
404 Walnut Street, Suite 1
Monticello, MN 55362
Attn: Executive Director
520543v1 MNI MN 190-156 4
(b) As to the Developer: BP-Pinesl, LLC
633 Upland Avenue, Suite C
Elk River, MN 55330
Attn:
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.
16. The Developer hereby agrees to protect, defend and hold the Authority, the City
and their officers, elected and appointed officials, employees, administrators, commissioners,
agents, and representatives harmless from and indemnified against any and all loss, cost, fines,
charges, damage and expenses, including, without limitation, reasonable attorneys fees,
consultant and expert witness fees, and travel associated therewith, due to claims or demands of
any kind whatsoever caused by Developer or arising out of actions of Developer (and excluding
those caused by or arising out of the Authority's or City's own acts or conduct) with regard to (i)
the development, marketing, sale or leasing of all or any part of the Property, including, without
limitation, any claims for any lien imposed by law for services, labor or materials furnished to or
for the benefit of the Property, or (ii) any claim by the state of Minnesota or the Minnesota
Pollution Control Agency or any other person pertaining to the violation of any permits, orders,
decrees or demands made by said persons or with regard to the presence of any pollutant,
contaminant or hazardous waste on the Property deposited or released by Developer; and (iii) or
by reason of the execution of this Agreement or the performance of this Agreement. The
Developer, and the Developer's successors or assigns, agree to protect, defend and save the
Authority, and its officers, agents, and employees, harmless from all such claims, demands,
damages, and causes of action and the costs, disbursements, and expenses of defending the same,
including but not limited to, attorneys fees, consulting engineering services, and other technical,
administrative or professional assistance incurred by the Authority as a result of the actions of
Developer. This indemnity shall be continuing and shall survive the performance, termination or
cancellation of this Agreement. Nothing in this Agreement shall be construed as a limitation of
or waiver by the Authority of any immunities, defenses, or other limitations on liability to which
the Authority is entitled by law, including but not limited to the maximum monetary limits on
liability established by Minnesota Statutes, Chapter 466.
520543v1 MNI MN 190-156 5
IN WITNESS WHEREOF, the Authority has caused this Agreement to be duly executed in
its name and behalf and its seal to be duly affixed hereto and the Developer has caused this
Agreement to be duly executed as of the day and year first above written.
DEVELOPER:
BP -PINES -I, LLC
By
Its:
AUTHORITY:
CITY OF MONTICELLO ECONOMIC
DEVELOPMENT AUTHORITY
By
Its President
By
Its Executive Director
520543A MNI MN190-156
EXHIBIT A
Description of Property
Lots 1, 2, 3, 9, 10, 11, 12, 13, 14, and 15 and the West 16.00 feet of Lot 8, all in Block Thirty-six in
the TOWNSITE OF MONTICELLO as of public record, Wright County, Minnesota.
520543v1 MNI MN 190-156 A_1
EDA Agenda: 4/11/18
5. Consideration of Authorizing Public Hearing Notice and Preparation of Loan
Agreement and Related Documents in Connection with Bondhus Corporation's EDA-
SCDP Loan Application the amount of $195,000 (JT)
A. REFERENCE AND BACKGROUND:
Bondhus Corporation has submitted an application for a $200,000 loan from the EDA-SCDP
program to help finance a two-story, 10,200 sq. ft. expansion to its existing 60,000 sq. ft.
manufacturing facility located at 1400 East Broadway. As part of the expansion project,
Bondhus plans to purchase approximately $500,000 of new equipment and also create 15 new
jobs. It recently submitted a Job Creation Fund (JCF) grant application in the amount of
$195,000 to MN -DEED for reimbursement of its real property capital expenditures and a
portion of wages related to 15 new jobs to be created over a three (3) to five (5) year period.
The JCF application required City Council support through a Resolution endorsing the
expansion project.
A nearly 53 year old company with origins in Monticello, Bondhus is a manufacturer of hex
hand tools and screwdrivers. It makes 14,000 SKUs of hex and screwdriver oriented tools per
day. The 85 workers at its Monticello production facility make and ship about 170,000 tools
per day. Customers include Fastenal, Northern Tool, Mid -States Supply, etc. Bondhus has
seen steady growth over the decades because of its high quality products with greater torq
strength. It sells products internationally to 44 countries worldwide. Bondhus is just one of
two hex hand tool makers left in the U.S., with Eklind of Chicago, being the other
manufacturer.
The need for the expansion area is to accommodate the launch of a new line of tools.
Bondhus has examined purchasing other firms in locations outside of Monticello to pursue
this line of work and has come to the conclusion that it makes the most sense to establish this
work in Monticello and grow it here.
The total cost of the proposed expansion project is expected to be $2,304,000. Bondhus is
indicating that it will need both the EDA-SCDP loan and the State JCF funding in order to fill
a funding gap to allow the total project investment to cash flow. The SCDP loan dollars will
be used for equipment purchases while the JCF dollars will be used to reimburse Bondhus for
real property improvements at a rate of 5 percent of expenditures. Additional JCF dollars will
be paid to Bondhus over three (3) to five (5) years as it verifies annually that it has hired and
retained 15 new jobs. Bondhus indicates that it planning to contribute $120,000 (5.6 percent
equity) toward the project and has already spent approximately $75,000 on feasibility
planning design and engineering studies to accommodate the proposed expansion. Those
expenditures are not included in the total costs noted above. The expansion project's funding
sources and uses are shown below.
Prosect Sources and Uses
Source of Funding Amount of Funding % Security Position
Harris Bank $1,984,000 86.2 RE Mort-Equip./Assets
1
EDA Agenda: 4/11/18
EDA-SCDP Loan $ 200,000 8.7 Purc Money -Equip. Lien
Owner -Equity Capital $ 120,000* 5.3 N/A
Total Amt. $2,304,000*
#Minnesota DEED - JCF Grant $ 195,000 Reimb. N/A
*Bondhus has provided additional owner equity funds totaling $75,000 as necessary project feasibility and design costs to
move forward with the expansion. The total project size increases to $2,379,000 when included, thereby resulting
in Bondhus contributing approximately 5.1 percent in owner -equity capital toward the expansion project.
# JCF is a grant provided a performance reimbursement by Minnesota DEED
Since the loan request is in excess of $150,000, the State's Business Subsid public hearing
requirement is triggered. At this time, staff is asking the EDA to consider its interest in
participating in closing the identified gap financing needs in the amount of $200,000. If the
EDA determines that it is interested in providing an EDA-SCDP loan to Bondhus, then
follow-on steps will be taken to publish the Hearing Notice for the May 9, 2018 EDA meeting
and complete the underwriting process for the loan request and assess the ability of Bondhus's
project to comply with the Federal SCDP loan requirements along with authorizing
preparation of a loan agreement between the EDA and Bondhus Corporation.
Land use applications are likely necessary to support the expansion project and are a separate
consideration by the Planning Commission and City Council.
Al. STAFF IMPACT: Community Development Department staff has spent considerable
time working with Bondhus over the past several months (estimate of 16 to 20 hours +/-)
reviewing concepts and exchanging ideas regarding funding programs and a best fit structure
for the expansion. The EDA-SCDP loan program is an appropriate source of funding for the
project due to planned equipment purchases. When those dollars are used for equipment, the
Federal strings attached to the funds that were passed to Monticello through the State can be
minimized and ultimately released at the time of repayment back to the EDA.
The JCF application is submitted by the Company directly to the State with some
collaboration and oversight by City staff. The JCF grant agreement (if approved) will be
between Bondhus and the State, so there is minimal City staff follow up involvement in
tracking expenditures, verifying job creation and wages and requesting reimbursement
payments from the State. The loan, if the EDA approves will result in staff follow up and
tracking of payments, etc.
A2. BUDGET IMPACT: The budgetary impact related to consideration of the EDA-SCDP
loan request is to the loan fund itself. The fund currently has $505,000 +/- available to loan
out. This request is for $200,000 or approximately 39 percent of the available dollars in the
EDA-SCDP program. The balance of the fund after the loan is completed would be $305,000
B. ALTERNATIVE ACTIONS:
IA. Motion to authorize publishing a Public Hearing Notice to consider an EDA-SCDP loan
2
EDA Agenda: 4/11/18
in the amount of $200,000 for Bondhus Corporation's expansion proposal at the May 9, 2018
EDA meeting.
113. Motion to authorize preparation of a Loan Agreement between the EDA and Bondhus
Corporation for consideration at the May 9, 2018 EDA meeting.
2A. Motion to deny authorizing a Public Hearing Notice to consider an EDA-SCDP loan in
the amount of $200,000 for Bondhus Corporation's expansion proposal at the May 9, 2018
EDA meeting.
2B. Motion to deny authorization of preparation of a Loan Agreement between the EDA and
Bondhus Corporation for consideration at the May 9, 2018 EDA meeting.
3A. Motion to table consideration of the Public Hearing Notice related to the EDA-SCDP
loan request from Bondhus Corporation in the amount of $200,000.
3B. Motion to table consideration of preparation of a Loan Agreement between the EDA and
Bondhus Corporation for consideration at the May 9, 2018 EDA meeting.
C. STAFF RECOMMENDATION:
Staff recommends Alternative #1 to the EDA. The public hearing notice is a requirement
under state statute. It fits in with the completing the underwriting process for the loan request
along with the preparation of a Loan Agreement detailing the terms involved in the loan.
Community benefits from the expansion include increased economic activity, additional spin-
off business for area manufacturers and suppliers, 15 new FTE (full-time equivalent) jobs
and additional property tax base. Staff have determined that Bondhus' application is
complete. The EDA-SCDP Fund has sufficient dollars to easily consider the $200,000 loan
request. An initial review of the project proforma indicates an ability for repayment of th
loan
SUPPORTING DATA:
A. Bondhus Corporation's EDA-SCDP Loan Application
B. EDA-SCDP Loan Guidelines
Adhl----
)�wCelebrating 50 Years
1965-2015
March 21, 2018
Jim Thares
City of Monticello
505 Walnut Street
Monticello, Mn 55362
Re: Small Cities Economic Development Loan Fund
Dear Mr. Thares,
Please accept this application and request for a loan from the Small Cities Economic
Development Loan Fund to assist us with the expansion planned for 2018. We have an
opportunity to bring the manufacturing of a hand tool product line to Monticello, Minnesota.
These tools are currently almost exclusively made in China. We are asking for help to expand
our existing manufacturing plant in Monticello, Minnesota in order to manufacture these tools in
the US. We are asking for $200,000 from the Small Cities Economic Development Fund to help
enable this project to move forward.
If there are any questions about this application, please don't hesitate to contact me.
Kind regards,
Mike Blackston
President
Bondhus Corp
1400 East Broadway
Monticello, MN 55362
763-295-2162
Tel: 763-295-2162
U.S. Toll Free: 800-328-8310
Fax: 763-295-4440
Bondhus Corporation
1400 E. Broadway, P.C. Box 660
Monticello, MN 55362 USA
www.bondhius.cotit
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
BUSINESS SUBSIDY APPLICATION
BUSINESS ASSISTANCE FINANCING
Legal name of applicantBondhus Corporation
.,
Address: 1400 East Broadway
Telephone number: 763-295-2162
Name of contact person: Mike Blackston (President)
REQUESTED INFORMATION
Addendum shall be attached hereto addressing in detail the following:
L A map showing the exact boundaries of proposed development.
2. Give a general description of the project including size and location of building(s). business
type or use; traffic information including parking, projected vehicle counts and traffic flow;
timing of the project; estimated market value following completion.
3. The existing Comprehensive Guide Plan Land Use designation and zoning of the property.
Include a statement as to how the proposed development will conform to the land use
designation and bow the property will be zoned.
4. A statement identifying how the increment assistance will be used and why it is necessary to
undertake the project.
5. A statement identifying the public benefits of the proposal including estimated increase in
property valuation, new jobs to be created, hourly wages and other community assets.
6. A written description of the developer's business, principals, history and past projects
I understand that the application fee will be used for EDA staff and consultant costs and may be partially
refundable if the request for assistance is withdrawn. Refunds will be made at the discretion of the EDA
Board and be based on the costs incurred by the EDA prior to withdraw of the request for assistance. If
the initial application fee is insufficient, I will be responsible for additional deposits.
SIGNATURE
Applicant's signKt-u're:
Date; e .2 0
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
Application for Business Assistance Financing
GENERAL INFORMATION:
Business Name: Bondhus Corporation
Address: 1400 East Broadway Monticello, MN 55362
Type (Partnership, etc.): Corporation
Authorized Representative: Mike Blackston
Description of Business: Manufacturer and seller of hand tools
Legal Counsel: Stoel Rives
Address: 33 South 6`h Street Minneapolis, MN 55402
FINANCIAL BACKGROUND:
1. Have you ever filed for bankruptcy? No
2. Have you ever defaulted on any loan commitment? No
3. Have you applied for conventional financing for the project? Yes
Date: March 21, 2018
763-295-2162
Phone:
612-373-8800
Phone:
4. List financial references:
a. BMO Harris Bank NA 50 South 6t' Street Suite 1000 Minneapolis, MN 55402
b.
1
5. Have you ever used Business Assistance Financing before?
If yes, what, where and when?
PROJECT INFORMATION:
1. Location of Proposed Project: 1400 East Broadway
No
2. Amount of Business Assistance requested? $200,000
Part of plant addition and equipment purchase totaling $2.3
3. Need for Business Assistance: million
4. Present ownership of site: Mary Kay Bondhus
5. Number of permanent jobs created as a result of project? 15 to start, during the first 3 years
6. Estimated annual sales: Present: $21 million Future: $25+ million
7. Market value of project following completion: $2 million +
8. Anticipated start date: July 2018
FINANCIAL INFORMATION:
1. Estimated project related costs:
a.
Land acquisition
b.
Site development
c.
Building cost
d.
Equipment
e.
Architectural/engineering fee
f.
Legal fees
g.
Off-site development costs
Completion Date: December 2018
$ 0
$176,000
$1,630,000
$498,000
Included in building cost
0
0
2
2. Source of financing:
a. Private financing institution $ 1,984,000
b. Tax increment funds
$195,000 (JCF grant
c. Other public funds possibility)
d. Developer equity $120,000
1 -Business overview, company history and ownership
Bondhus Corporation is a manufacturing company located in Monticello, Minnesota. The
company produces a very wide range of hex -based hand tools; Hex keys (commonly known as
"Allen wrenches"), ballpoint keys and screwdrivers, T -handles of all types, folding tool sets and
many other specialty tools.
The company was founded in 1965 by John Bondhus. John sought to commercialize an idea he
had for machining a ballpoint tip at the end of a hex key. The idea and the tools John initially
made turned out to be time savers for tool makers who regularly removed and reinstalled socket
head cap screws on tooling in manufacturing plants. After some success, and to expand his
capabilities, John started manufacturing tools in a small, rented retail store in downtown
Monticello.
As time went on, John made and sold, more and more tools. To support his growing business,
John built a small, one story manufacturing plant, at the site of the current Monticello Bondhus
facility, in 1974. This original building still stands today, but has been supplemented by four
additions since.
In 2017, Bondhus' product line of 14,000 items, supported sales to customers in the US, Canada,
Mexico and more than 40 additional countries.
When John Bondhus passed away 11+ years ago, his widow, Mary Kay Bondhus became the
majority shareholder. The company has an ESOP which owns about 13% of the stock, and a few
other shareholders own a small portion of the company (less than 10%). Mary Kay is active in
the business and chairs the Board of Directors. The day to day operations of the company are
attended to by a corporate staff which includes; Mike Blackston (CEO), Polly Grell (VP
Finance), Nick Marchuk (VP Domestic Sales), Fred Leers (VP International Sales), Shannon
Pramman (HR Manager).
2.Product or industry outlook
Bondhus has been able to grow steadily,, in part= because of its' promotion of "Made in USA"
products. The company also has developed a specialized steel alloy and a custom heat treat
process to give its tools the greatest strength and ductility possible. Bondhus tools typically
generate 20% more torque than competitor tools, especially tools make in China. The company
expects the new product line that will be added when this expansion is complete to grow sales by
at least $3 million within the first five years after introduction. Bondhus has also been very
successful consolidating the sales of their types of products with a customer and gradually
eliminating virtually all competitor products from the customers' offering. Any new product
lines that are added to its' offering will, after some effort, likely replace products that -are
currently supplied by foreign manufacturers to customers Bondhus will target with these
products.
3.Proiected sales
The company projects sales of its' new product line to reach the $500,000 level by the end of the
first years and then grow to $3,000,000 by the end of the fourth full year. Based on the
breakdown of direct sales to Minnesota distributors plus estimated sales from large retailers such
as Amazon, MSC, McMaster Carr and Grainger directly to customers in Minnesota, the company
projects overall sales and sales within Minnesota as follows:
Total sales by year end _Sales to Minnesota users by year end
Year 1 $500,000 $2000
Year 2 $1,000,000 $4000
Year 3 $2,000,000 $80,000
Year 4 $300,000 $12000
4.Markets
The company has a strong sales presence throughout the US and internationally, in 44 countries.
2017 sales to domestic customers totaled 52% of total sales, sales to international customers
totaled 28% and sales to private label customers totaled 20%.
Domestic markets, percentage of US sales and Key customers include:
• Industrial 49% (McMaster Carr, MSC, Amazon, Production Tool)
• Hardware 14% (Fleet Farm, Northern Tool, Mid States, Orchard Supply)
• Construction supply 11 % (Fastenal, Anchor, ORS Nasco, Iintegrated Supply)
• Automotive 7% (Weisser, JB Tool, Sturdevants, Mac Tool)
• Private label 19% (Park Tool, Stanley, Snap -Oen, Klein)
International market breakdown:
• Industrial 61 %
• Hardware 8%
• Construction supply 12%
• Automotive 11 %
• Private label 8%
Minnesota distributors of Bondhus products are many in number and include: Mills Fleet Farm,
Fastenal, Runnings, Northern Tool, Mac Tool, Blackhawk, Acme Tool, Viking Electric,
Bomgaars, Applied Industrial, Ace Hardware, Border States, Delegard Tool and many others.
5.Philanthrony
Bondhus employees are quietly, but actively involved in support of the local community. The
subject of their support varies from year to year, but recent support has been given to the
following groups:
• Monticello Help Center/Food Shelf
• Monticello School District Back Pack Program
• One Warm Coat
• Monticello Middle School Robotics Club
• The Dream Machine at Sts. Peter and Paul School
• Operation Minnesota Nice
• Bondhus was named a "Difference Maker" by Options Inc (Big Lake).
• Additionally, Bondhus supports approximately 40 individuals and families in the
Monticello area by subcontracting simple assembly operations directly with them. These
are virtually all unskilled people, many with circumstances, such as medical conditions
which that -prevent them from maintaining steady employment. Bondhus provides
training and ongoing coaching and allows them to do as little or as much subcontract
work as they are able.
6.Financials (see attachments for more comiDlete information
7.Proiect Details
To accommodate the manufacturing and packaging of an additional product line, the company is
planning to add a 10,200 square foot addition onto the East end of the current building.
Extensive regrading and shaping of the East lot will be required to provide easy access to
delivery and pickup services. The West parking lot will be expanded to accommodate additional
staff and to facilitate the separation of employee vehicle traffic, which will be clustered on the
West end of the building, from the truck traffic which will be confined to the east end of the
building.
Mary Kay Bondhus owns the current building and land. The company has a long term lease in
place with Ms. Bondhus. Once the construction of this addition is complete she will assume
ownership of the mortgage for this addition and the company will lease the additional space on a
long term lease. The company will own all of the equipment and machinery purchased for this
addition and will be indebted for any loans related to those purchases.
Building and Grounds
a. East addition: Two floors, heavy construction @10,200 sq ft total 1,500,000
(Including basic electric service, lighting and HVAC)
b. New West parking lot plus mill & recoat existing lot 13600
c. Re -side West and North faces of existing building (stop at new precast) 100,000
d. Extensive grading and contouring 40,000
e. Replace main entrance doors and glass above 10,000
f. Additional restrooms 20,000
Sub Total Building $198069000
EQuiument and Machine
g. Compressor + electrical 60,000
h. Tormax turning machines _125,000
i. Cut off system _ 4800
j. Milling machines _ _ 90,000
2016
2017
2018 (Prof)
2019 (Prof)
Net Sales
19,343,198
21,338,446
21,901,542
23,000,000
Cost of Goods
12,094,134
13,463,971
13,845,701
14,540,123
Operating Expense
5,996,804
6,146,441
6,327,541
6,430,000
Misc Income/Exp
336,370
365.811
563,623
681,613
Net Income _
915,890
1,362,223
1,164,677
1,348,264
7.Proiect Details
To accommodate the manufacturing and packaging of an additional product line, the company is
planning to add a 10,200 square foot addition onto the East end of the current building.
Extensive regrading and shaping of the East lot will be required to provide easy access to
delivery and pickup services. The West parking lot will be expanded to accommodate additional
staff and to facilitate the separation of employee vehicle traffic, which will be clustered on the
West end of the building, from the truck traffic which will be confined to the east end of the
building.
Mary Kay Bondhus owns the current building and land. The company has a long term lease in
place with Ms. Bondhus. Once the construction of this addition is complete she will assume
ownership of the mortgage for this addition and the company will lease the additional space on a
long term lease. The company will own all of the equipment and machinery purchased for this
addition and will be indebted for any loans related to those purchases.
Building and Grounds
a. East addition: Two floors, heavy construction @10,200 sq ft total 1,500,000
(Including basic electric service, lighting and HVAC)
b. New West parking lot plus mill & recoat existing lot 13600
c. Re -side West and North faces of existing building (stop at new precast) 100,000
d. Extensive grading and contouring 40,000
e. Replace main entrance doors and glass above 10,000
f. Additional restrooms 20,000
Sub Total Building $198069000
EQuiument and Machine
g. Compressor + electrical 60,000
h. Tormax turning machines _125,000
i. Cut off system _ 4800
j. Milling machines _ _ 90,000
k. One small heat treat furnace 10000
1. Contingency 75,000
Sub Total Machinery $4989000
Projected Project Total $293049000
8.Effects Of This Project On The Local And State Economies
The addition of a new product line to the Bondhus offering will result in new job opportunities in
Monticello and sales opportunities throughout Minnesota. The additional product line not only
results in a sales increase related to these new items, but sales of existing Bondhus products will
increase, as some distributors replace existing products provided by other suppliers as part of the
effort to take on the new product line.
Purchases from suppliers located in Minnesota should increase sales of the new product line.
The company does quite a bit of printing locally. Its plastic injection molding supplier is located
in Maple Grove, Minnesota. Its_plating supplier is in Isle, Minnesota. The company's steel
hauler is Long Haul Trucking, located in Albertville, Minnesota. Local subcontract machining
suppliers such as Accura Automatics and Ellison Machining would also benefit. All of these
companies and many others will see increased business activity as a result of this project.
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MONTICELLO SMALL CITIES ECONOMIC DEVELOPMENT SET-
ASIDE REVOLVING LOAN FUND GUIDELINES
L PURPOSE:
The City of Monticello ("City") has received a grant through the Community Development Block
Grant Economic Development Set Aside (SCDP) program (the "Program") and the Minnesota
Investment Fund, administered through the Department of Employment and Economic Development
("DEED"). The grant may be used to make loans to local businesses as described below.
As the recipient of a grant through the Program, the City is authorized to keep all of the principal
repayments and interest on the loans it makes. The City is required to use these funds to create a
revolving loan fund ("RLF") and to establish policies and procedures for the RLF. In December
2005, the City Council requested that Minnesota DEED designate the City of Monticello EDA as a
Local Development Organization (LDO) so the Program funds could be transferred to the EDA as
well as authority for the administration of RLF utilizing Program dollars. A letter response from
MN -DEED, dated January 3, 2006, recognizes the EDA as a LDO and therein effectuates the transfer
of the Program funds and the administrative authority of those dollars.
II. PURPOSE OF THE REVOLVING LOAN FUND
Revolving loan funds are to be used for business start-ups, expansions, and retention
where jobs are created or retained. This maybe accomplished by the following means:
1.) Creation or retention of permanent private -sector jobs in order to create above average
economic growth;
2.) Stimulation or leverage of private investment to ensure economic renewal and
competitiveness;
3.) Increase to the local tax base;
4.) Improvement of employment and economic opportunity for citizens in the region to
create a reasonable standard of living; and
5.) Stimulation of productivity growth through unproved manufacturing or new
technologies.
III. ELIGIBLE EXPENDITURES
RLF's may be used to provide assistance for infrastructure, loans, loan guarantees, interest
buy -downs, and other forms of participation with private sources of financing. The RLF
assistance can be for no more than one-half of the cost of the project. The RLF is subject to
all of the state and federal CDBG requirements, as described in Exhibits A and B attached.
IV. ELIGIBLE PROJECTS
The grant or loan must be based on one or more of the following criteria:
1.) Creation of new jobs or retention of existing jobs;
2.) Increase in the tax base;
3.) Investment of public dollars inducing private investment;
4.) Excessive public infrastructure or improvement cost beyond the means of the affected
community and private participants in the project;
5.) Higher wage levels to the community or added value to current workforce skills;
6.) Necessity of assistance to retain existing business; and
7.) Necessity of assistance to attract out-of-state business.
The grant or loan cannot be made based solely on a finding that the conditions in clause
2.), 6.) or 7.) exist. A finding must be made that a condition in clause 1.), 3.), 4.), or 5.)
also exists.
V. ELIGIBLE ACTIVITIES
RLF's may be used for the following activities:
1.) Purchase of land
2.) Construction of a building or other improvements
3.) Renovation of an existing building to accommodate the business
4.) Construction of tenant improvements
5) Purchase of Capital Equipment
6.) Lease or purchase of an existing building
7.) Site improvements
8.) Public improvements and privately owned utilities
9.) Workforce Development including job training and placement:
a.) Training low skilled, low-income persons for specific jobs for which they
have been hired and which require skill levels beyond what they now have;
b.) Training a pool of low-income prospective employees for specific jobs being
created as a result of a CDBG-funded industrial expansion, where the
employer agrees to give first consideration to filling the new positions with
people from this pool;
c.) Re-training existing employees of a business as part of a project which
qualifies as retaining jobs.
10.) Microenterprise Assistance: RLF assistance can be provided to persons owning or
developing a microenterprise, which is defined as a commercial enterprise that has 5
or fewer employees, one or more of whom owns the enterprise. If this assistance is
federally funded, the business needs to be owned by an individual that is in a low
and moderate income household.
11.) Housing Rehabilitation — Owner Occupied or Rental.
VI. INELIGIBLE ACTIVITIES
RLF assistance may not be used for the following:
1.) Operation or expansion of a casino.
2.) For a project related to a sports facility. "Sports facility" means a building that has
a professional sports team as a principal tenant.
3.) General promotion of the community.
4.) Professional sports teams.
5.) Privately owned recreational facilities that serve a predominantly higher income
clientele where the benefit to users clearly outweighs the benefit of jobs created or
retained.
6.) Acquisition of land for which a specific use has not been identified (i.e. land
banking)
7.) Assistance to a for-profit business that is, or its owner is, the subject of unresolved
findings of noncompliance related to previous CDBG assistance.
8.) For relocation of an out of state business.
9.) New housing construction.
10.) Planning for economic development projects.
11.) Job training that is not part of a CDBG eligible economic development activity to
create or retain permanent jobs.
12.) Working capital.
VII. PUBLIC BENEFIT
A project using RLF funds must show a minimum level of public benefit. The amount of
the assistance must not exceed $50,000 per full-time equivalent, permanent job (created
or retained). If the City finds, after a public hearing, that the primary purpose of the
project is not job creation, this provision is not applicable.
VIII. PROJECT COSTS AND FINANCIAL REQUIREMENTS
A. Acceptable Private Financing Methods:
1. Companion Direct Loan: The RLF is subordinate to the primary lender.
2. Participation Loan: The RLF participates in a portion of the loan.
3. Guarantee Loans: The RLF guarantees a portion of the bank loan.
a. Interest rate cap is subject to City approval
B. Terms and Conditions:
1. Leveraging: Minimum 60 to 65 % private/ Non-RLF, Maximum 30% RLF,
Minimum 5 to 10% equity.
2. Loan Term: Personal property term not to exceed life of equipment (possibly
up to 10). Real estate property maximum of 10 -year maturity amortized up to
30 years. Balloon payment at 10 years.
3. Interest Rate: Fixed rate not less than 2% below prime rate or I% below
prime if equity contribution is less than 10 percent of total financing - as
published in the Wall Street Journal on date of EDA loan approval, with a
minimum interest rate of 1.0% or 2% if equity contribution is less than 10
percent of total financing.
4. Loan Fee: Minimum of $500 but not to exceed 1.5% of the total loan. Fees
are to be documented and no duplication of fees between the lending
institution and the RLF. Loan fee may be incorporated into project cost.
EDA retains the right to reduce or waive loan fee or portion of loan fee. Fee
to be paid by applicant within 5 working days after EDA approval of loan.
The fee is non-refundable.
C. Other:
1. No penalty for prepayment of loan in whole or in part.
2. Extending a balloon payment will require a verification letter from two
lending institutions stating the inability to refinance and is subject to by the
EDA.
3. Monthly payments may be deferred for a determined period of time upon
approval by the EDA.
i. Failure to pay principal or interest when due may result in the loan being
immediately called. In addition to any other amounts due on any loan, and
without waiving any right of the EDA under any applicable documents, a late
fee of $250 will be imposed on any borrower for any payment not received in
full by the EDA within 30 calendar days of the date on which it is due.
Furthermore, interest will continue to accrue on any amount due until the date
on which it is paid to the EDA and all such interest will be due and payable at
the same time as the amount on which it has accrued.
4. RLF Loans are not assumable.
5. The EDA will determine appropriate and applicable business equity
requirements on a case by case analysis, utilizing normal lending guidelines,
subject to the type of assistance.
6. Collateral may include:
i. Liens on real property in project (mortgage deed).
ii. Liens on real property in business (mortgage deed).
iii. Liens on real property held personally (subject to EDA approval, homestead
exempt).
iv. Machinery and equipment liens (except equipment exempt from bankruptcy).
v. Personal and/or corporate guarantees (requires unlimited personal
guarantees).
7. An approved RLF loan shall be null and void if funds are not drawn upon or
disbursed within 180 days from date of EDA approval.
i. The 180 -day non-performance date can be extended up to an additional 120
days, upon approval by the EDA.
ii. A written request must be received 30 days prior to expiration of the 180 -day
non-performance date.
8. Legal fees are the responsibility of the RLF applicant.
9. Participating Lending Institutions:
i. shall be determined by the RLF applicant
ii. shall cooperate with the EDA and assist in carrying out the policies of the
RLF as approved by the EDA.
iii. Shall analyze the formal application and indicate to the EDA at the level at
which the lending institution will participate in the finance package.
10. Loan Administration:
i. City Staff shall collect applicable RLF payments
ii. City Staff shall assure EDA compliance with all applicable terms and
conditions of the approved loan.
iii. All loan documents shall include the following:
a) Definition of loan default, agreements regarding notification of
default
b) Copy of primary lenders documents
c) Provisions allowing the EDA to inquire on the status of the primary
loan
IV. LOAN APPLICATION PROCEDURES
The EDA desires to make the RLF loan application process as simple as possible.
However, certain procedures must be followed prior to EDA consideration of a loan
request. Information regarding the program and procedures for obtaining a loan are as
follows:
a. Cit Sy taff. City Staff shall carry out RLF operating procedures as approved
by the EDA. Staff is responsible for assisting businesses in the loan
application process and will work closely with applicants in developing the
necessary information.
b. Application Process:
1. Applicant shall complete a preliminary loan application. Staff will
review application for consistency with the policies set forth in the
Guidelines.
2. If applicant gains initial support from lending institution and if the
preliminary loan application is approved, applicant is then asked to
complete a formal application. Formal application shall include a
business plan which will include its management structure, market
analysis, and financial statement. Like documentation necessary for
obtaining the bank loan associated with the proposal is acceptable.
Attached with each formal application is a written release of
information executed by the loan applicant
3. If the preliminary loan application is not approved by staff, the
applicant may request that the EDA consider approval of the
preliminary application at the next regularly scheduled meeting of the
EDA.
4. City staff shall analyze the formal application and financial
statements contained therein to determine if the proposed business
and finance plan is viable. City staff shall submit a written
recommendation to the EDA. A decision regarding the application
shall be made by the EDA within 60 days of the submittal of a
completed formal application.
5. Prior to issuance of an approved loan, the EDA Attorney shall review
and/or prepare all contracts, legal documents, and inter -creditor
agreements. After such review is complete, the EDA shall issue said
loan.
History:
Public Hearing and Adoption on March 23, 2009
Revised January 10, 2018
Exhibit A
STATE REQUIREMENTS
State requirements are as on file with the City Clerk of Monticello and -are hereby
incorporated by reference.
Exhibit B
FEDERAL REQUIREMENTS
Federal requirements are as on file with the City Clerk of Monticello and are hereby
incorporated by reference.
■
WSB
— 701 Xenia Avenue South I Suite 300 1 Minneapolis, MN 55416 1 (763) 541-4800
Memorandum
To: Jim Thares, Economic Development Director
From: Jim Gromberg, Economic Development Coordinator
Date: April 6, 2018
Re: Project Updates
WSB Project No. 011121-00
Thank you for the opportunity to continue to assist the City of Monticello in their continued efforts to
provide economic vitality for the community and the residents. Below are updates on some of the projects
that we have discussed for the city with regards to the economic development efforts.
IRT Site: The company has relocated to another community providing an opportunity to
redevelop the site with a use that will be more compatible with the surrounding uses. Based upon
the past use of the site Monticello should consider the use of DEED's Contamination Cleanup
and Investigation Grant Program. This program allows for a grant of up to 75% of the costs of the
investigation not to exceed $50,000. A grant for the cleanup could be for 75% of the total project
cost. The remaining 25% would be covered by a match from the City. The grant fund currently
has $4 million and the applications for this round of funding are due on May 1St for the first round
of funding. The second round of funding would be on November 1St. If Monticello decides to
apply for the funding it should have an application in the first round for the investigation and if
clean-up is required apply during the second round for additional funding for the completion of the
project.
• Xcel Energy: Xcel Energy has approached the city concerning a possible manufacturing project
that would also include a data center in the lower level of the building. The proposed project
would be located in or near the industrial park to take advantage of the available utility
infrastructure. The project is currently on hold due to the recent uncertainty of the economic
outlook.
Childcare Needs: I recently met with First Children's Finance to discuss the current shortage of
daycare providers and spots for children in the wright County area. As the attached chart shows
the City of Monticello currently has a shortage of 580 spots for childcare. While Wright County
currently has a shortage of 1,222 spots for childcare. The shortage creates a problem for families
to be able to have childcare available to allow for them to take advantage of employment
opportunities. The EDA may want to consider having First Children's Finance attend the next
EDA meeting to discuss the problem and possible steps to alleviate the shortage of spots. First
Children's Finance is a non-profit that is funded by federal and state grants and has a grant
program that could allow for Monticello to develop a long-term plan for providing the needed
spots.
Downtown Block 52 Redevelopment: Monticello has closed and is in title on the River Street
Station Antiques building and will possession on July 1, 2018. The tenants have received a
notice to vacate by June 30, 2018. Relocation assistance services are being provided to the
tenants. Referral have been sent to several of the tenants with research on additional referrals in
process. All tenants have been contacted and estimates of their relocation benefits will be sent to
them in by mid-April.
Building a legacy — your legacy.
Equal Opportunity Employer I wsbeng.com
Project Updates
April 6, 2018
Page 2
• WSI and Project Novus: As some of the members may be aware a firm has proposed the
purchase of WSI. WSI has responded that they want to make sure any change of ownership
does not adversely affect the city of Monticello or their employees. The Project Novus site search
is currently on hold due to uncertainty in the international markets and product volume volatility.
Please let me know if you have any questions concerning the above projects or require additional
information on the projects. In addition, let me know if you have additional projects that should be
reviewed and included.
F.\Economic Develop me nt\Boards\EDA\EDA Age nda\2015\April\Item 6. Consideration of WSB Update Report. rpt.docx
1 FIRST
CHILDREN'S
FINANCE
Maple Lake Area Child Care Supply / Demand / Gap Analysis Summary
The Zip Code Analysis provides insight into zip codes that are experiencing a negative gap in care availability for expected number of children seeking care. These totals will be
slightly different than the area view due to zip codes extending beyond area boundaries.
First Children's Finance Supply / Demand / Gap Analysis
Maple Lake Area Zip Code Analysis
Zip Code City
55302 Annandale
CCC #
2
CCC Capacity
180
FCC #
11
FCC Capacity Total
126
Capacity
306
Exptcl Capacity* Under'6'Working
263
360
Expected Under'5'**
302
Plus/Minus/Total
-39
55313 Buffalo
6
706
37
436
1142
970
1002
842
128
55320 Clearwater
0
0
12
142
142
120
340
286
-166
55321 Cokato
1
35
4
50
85
70
256
215
-145
55349 Howard Lake
0
0
5
60
60
50
104
87
-37
55358 Maple Lake
0
0
8
84
84
80
188
158
-78
55362 Monticello
1
97
42
504
601
502
1289
1083
-580
55363 Montrose
0
0
8
94
94
80
350
294
-214
55382 South Haven
0
0
8
94
94
80
131
110
-30
55390 Waverly
0
0
8
86
86
80
167
140
-60
Total
10
1018
143
1676
2694
2295
4187
3517
-1222
*Expected capacity is an internal calculation of First Children's Finance based upon historical data collection.
**Expected Under '5' is the adjusted calculation from the US Census totals of children with all
parents working Under V
The Zip Code Analysis provides insight into zip codes that are experiencing a negative gap in care availability for expected number of children seeking care. These totals will be
slightly different than the area view due to zip codes extending beyond area boundaries.
First Children's Finance Supply / Demand / Gap Analysis
1 FIRST
CHILDREN'S
FINANCE
First Children's Finance Supply / Demand / Gap Analysis
EDA Agenda: 04/11/18
7. Economic Development Report (JT)
A. Phase 1 Environmental Assessments Authorized by the EDA
The Phase 1 Environmental Assessments have been completed for 103 Pine Street and
112 West River Street. More information about the results of the studies will be provided
at the meeting.
B. Regional Housing Forum Sponsored by the Initiative Foundation
See the attachment regarding the Governor's Task Force on Housing listening and
discussion session. The Initiative Foundation is taking the lead to convene a group
discussion to identify and consider recommendations for securing Minnesota's housing
future. It is a free forum where you can share ideas related to home ownership, rental
housing and opportunities for housing suitability in Central Minnesota.
Questions to be asked include: How can we do better in providing sufficient affordable
rental options?
How can we improve stability for individuals and families in transition?
How can we help more people achieve home ownership?
Time 6 to 9 p.m.
Date: Thursday, April 5
Place: Initiative Foundation, Little Falls
C. Housing Article from fedgazette, Federal Reserve Bank in Minneapolis, MN
See the attached link and click on to read article in the Fedgazette, Minneapolis Federal
Reserve Bank, addressing affordable housing in the upper Midwest.
https://www.minnegpolisfed. org_/publicationslfedgazette/the-vanishing-starter-home
D. 103 Pine Street Relocation Expenditures Projection (see attached report from WSB)
E. Signage at 103 Pine Street
Staff believes that is makes sense to place for sale signage on the site indicating its
availability to the development community. A mock-up of a proposed sign is attached.
Staff is asking the EDA to consider authorizing $2,500 to create and place a sign on the
property.
F. Block 52 Marketing Brochure
The first of three brochures promoting development assets and opportunities in the
downtown core is complete. The brochure will be provided to the EDA and reviewed at
the meeting.
G. Prospects — See attached
A spread sheet with the active prospects will be provided to the EDA for review and
discussion at the regular meeting.
City of Monticello EDA
Project 61802027 - 103 Pine Street
March 14, 2018
Page 20
According to the User, the Phase I ESA was conducted in association with the purchase and
redevelopment of the Site. Opinions expressed herein are influenced by the stated reason for conducting
the Phase I ESA. Furthermore, the expressed opinions might not be applicable to alternate reasons for
reliance on the content of the Phase I ESA.
A recognized environmental condition is defined by ASTM Practice E1527-13 as: "the presence or likely
presence of any hazardous substances or petroleum products in, on, or at a property: 1) due to any
release to the environment, 2) under conditions indicative of a release to the environment, or 3) under
conditions that pose a material threat of a future release to the environment. De minimis conditions are
not recognized environmental conditions."
This assessment identified no recognized environmental conditions in connection with the Site.
• • • • •11,1161flifr4i•. •A•.:`.
A controlled recognized environmental condition is defined by ASTM Practice E1527-13 as "a recognized
environmental condition resulting from a past release of hazardous substances or petroleum products
that has been addressed to the satisfaction of the applicable regulatory authority, with hazardous
substances or petroleum products allowed to remain in place subject to the implementation of required
controls."
This assessment identified no controlled recognized environmental conditions in connection with the
Site.
A historical recognized environmental condition is defined by ASTM Practice E1527-13 as "a past release
of any hazardous substances or petroleum products that has occurred in connection with the Site and
has been addressed to the satisfaction of the applicable regulatory authority or meeting unrestricted use
criteria established by a regulatory authority, without subjecting the Site to any required controls."
This assessment identified no historical recognized environmental conditions in connection with the Site.
BRAUN
INTERTEC
City of Monticello EDA
Project B1802027 - 103 Pine Street
March 14, 2018
Page 21
A de minimis condition is defined by ASTM Practice E1527-13 as "a condition that generally does not
present a threat to human health or the environment and that generally would not be the subject of an
enforcement action if brought to the attention of appropriate governmental agencies."
The following findings are considered de minimis conditions:
■ The Site was used for residential purposes from at least 1914 until the 1970s. It is our opinion
that the use of the Site for residential purposes is considered a de minimis condition for the
Site.
■ The Site is currently used as a retail antiques store, beauty salon, and a building contractor's
office. Based on the absence of indications of significant use, storage, or release of
hazardous substances and/or petroleum products, it is our opinion that the current Site uses
are considered a de minimis condition for the Site.
■ Small stains were observed in the parking lot. Based on appearance, the stains do not
represent an indication of a significant release and are therefore considered de minimis
conditions.
■ The government database records review identified several regulated facilities in the vicinity
of the Site. Based on mitigating factors that affect the apparent significance of the identified
facilities on the Site, such as regulatory status, distance from the Site, location of the facility
in relation to the groundwater flow direction, and/or the database(s) the identified regulated
facilities are listed on, it is our opinion that the identified regulated facilities are considered
de minimis conditions.
,• •.WIMM117.1•
An additional consideration is a condition that does not meet the definition of a recognized
environmental condition, controlled recognized environmental condition, or historical recognized
environmental condition but, in our opinion, should be brought to the attention of the User. The
following additional considerations were identified during the Phase I ESA.
Historically, a residential dwelling was located on the Site. The dwelling (former parsonage associated
with the former church on the Site) was reportedly moved from its foundation and transported offsite in
the 1970s. It is unknown if the foundation of the former building was removed. The potential exists that
BRAUN
INTERTEC
City of Monticello EDA
Project B1802027 - 103 Pine Street
March 14, 2018
Page 22
buried materials are present at the Site that may require management as solid or hazardous waste if
encountered during future earthwork or redevelopment activities. If fill soils, which could include
demolition debris and other wastes, are encountered during such activities, then additional evaluation of
the fill soils might be required to assess appropriate management and/or disposal requirements.
Based on our historical review, the potential exists for a well and/or septic system to be located at the
Site. Wells that may be encountered during future redevelopment must be properly abandoned in
accordance with Minnesota Department of Health regulations. Septic systems that may be encountered
during future redevelopment must also be properly abandoned in accordance with local codes and
state regulations.
Prior to building demolition, a Minnesota Department of Health (MDH) licensed asbestos inspector
should conduct a destructive survey to identify and locate asbestos -containing materials (ACM). An MDH
licensed asbestos abatement contractor should remove all friable and potentially friable ACM prior to
building demolition. Non -friable ACM (if any) left in place during demolition should be segregated and
disposed of as ACM. In addition, all hazardous substances and building components containing
hazardous substances should be properly disposed of prior to demolition.
We have conducted this Phase I ESA of the Site in general conformance with the scope and limitations of
ASTM Practice E1527-13. Any exceptions to, or deletions from, this practice are described in Section F of
this report.
This assessment identified no recognized environmental conditions in connection with the Site.
This assessment identified no controlled recognized environmental conditions in connection with the
Site.
Additional Considerations
Historically, a residential dwelling was located on the Site. The dwelling was reportedly moved from its
foundation and transported offsite in the 1970s. It is unknown if the foundation of the former building
was removed. The potential exists that buried materials are present at the Site that may require
management as solid or hazardous waste if encountered during future earthwork or redevelopment
activities. If fill soils, which could include demolition debris and other wastes, are encountered during
such activities, then additional evaluation of the fill soils might be required to assess appropriate
management and/or disposal requirements.
BRAUN
INTERTEC
City of Monticello EDA
Project B1802027 - 103 Pine Street
March 14, 2018
Page 23
Based on our historical review, the potential exists for a well and/or septic system to be located at the
Site. Wells that may be encountered during future redevelopment must be properly abandoned in
accordance with Minnesota Department of Health regulations. Septic systems that may be encountered
during future redevelopment must also be properly abandoned in accordance with local codes and
state regulations.
Prior to building demolition, a Minnesota Department of Health (MDH) licensed asbestos inspector
should conduct a destructive survey to identify and locate asbestos -containing materials (ACM). An MDH
licensed asbestos abatement contractor should remove all friable and potentially friable ACM prior to
building demolition. Non -friable ACM (if any) left in place during demolition should be segregated and
disposed of as ACM. In addition, all hazardous substances and building components containing
hazardous substances should be properly disposed of prior to demolition.
References are listed in Appendix I.
We have the specific qualifications based on education, training, and experience to assess a property of
the nature, history and setting of the subject property. We have developed and performed the all -
appropriate inquiries in conformance with the standards and practices set forth in 40 CFR Part 312.
Qualifications of the environmental professional and the qualifications of the personnel conducting the
site reconnaissance and interviews, if conducted by someone other than an environmental professional,
are attached in Appendix J.
BRAUN
INTERTEC
City of Monticello EDA
Project 61802027 - 112 West River Street
March 21, 2018
Page 18
G. •
The findings include identified known or suspect recognized environmental conditions, controlled
recognized environmental conditions, historical recognized conditions, de minimis conditions and
additional issues in connection with the Site.
The following findings are based on the results of our assessment:
® The building observed on the Site at the time of the reconnaissance for this assessment was
constructed in 1948. The building was used as a warehouse from 1948 until 2006. It appears
that this was the first developed use of the Site. From 2006 until the time of this assessment,
the Site was occupied Union Speed and Style (a shop that specialized in customizing and
restoring parts for vintage automobiles and motorcycles).
■ Small stains were observed in the shop floor and in the parking lot.
The government database records review identified regulated facilities within the vicinity of
the Site; however, none were identified on adjoining properties.
According to the User, the Phase I ESA was conducted in association with the purchase and
redevelopment of the Site. Opinions expressed herein are influenced by the stated reason for conducting
the Phase I ESA. Furthermore, the expressed opinions might not be applicable to alternate reasons for
reliance on the content of the Phase I ESA.
A recognized environmental condition is defined by ASTM Practice E1527-13 as: "the presence or likely
presence of any hazardous substances or petroleum products in, on, or at a property: 1) due to any
release to the environment, 2) under conditions indicative of a release to the environment, or 3) under
conditions that pose a material threat of a future release to the environment. De minimis conditions are
not recognized environmental conditions."
This assessment identified no recognized environmental conditions in connection with the Site.
BRAUN
INTERTEC
City of Monticello EDA
Project B1802027 - 112 West River Street
March 21, 2018
Page 19
A controlled recognized environmental condition is defined by ASTM Practice E1527-13 as "a recognized
environmental condition resulting from a past release of hazardous substances or petroleum products
that has been addressed to the satisfaction of the applicable regulatory authority, with hazardous
substances or petroleum products allowed to remain in place subject to the implementation of required
controls."
This assessment identified no controlled recognized environmental conditions in connection with
the Site.
.3. Mstoroca0 Reco nu xe ] EnAvanmentaG Conditions
A historical recognized environmental condition is defined by ASTM Practice E1527-13 as "a past release
of any hazardous substances or petroleum products that has occurred in connection with the Site and
has been addressed to the satisfaction of the applicable regulatory authority or meeting unrestricted use
criteria established by a regulatory authority, without subjecting the Site to any required controls."
This assessment identified no historical recognized environmental conditions in connection with the Site.
A de minimis condition is defined by ASTM Practice E1527-13 as "a condition that generally does not
present a threat to human health or the environment and that generally would not be the subject of an
enforcement action if brought to the attention of appropriate governmental agencies."
The following findings are considered de minimis conditions:
■ The Site was used for a warehouse from approximately 1948 until approximately 2006.
It appears that this was the first developed use of the Site. The Site was used by a custom
fabricator of metal parts and upholstery for vintage cars and motorcycles from
approximately 2006 until the time of this assessment. Based on available historical
information and Site observations, it is our opinion that the uses of the Site for warehousing
and for custom fabricating of metal parts and upholstery are considered a de minimis
condition for the Site.
BRAUN
INTERTEC
City of Monticello EDA
Project B1802027 - 112 West River Street
March 21, 2018
Page 20
Small stains were observed on the shop floor and in the parking lot. Based on appearance,
the stains do not represent an indication of a significant release and are therefore considered
de minimis conditions.
® The government database records review regulated facilities within the vicinity of the Site;
however, none were identified on adjoining properties. Based on mitigating factors that
affect the apparent significance of the identified facilities on the Site, such as regulatory
status, distance from the Site, location of the facility in relation to the groundwater flow
direction, and/or the database(s) the identified regulated facilities are listed on, it is our
opinion that the identified regulated facilities are considered de minimis conditions.
An additional consideration is a condition that does not meet the definition of a recognized
environmental condition, controlled recognized environmental condition, or historical recognized
environmental condition but, in our opinion, should be brought to the attention of the User.
The following additional considerations were identified during the Phase I ESA.
Prior to building demolition, a Minnesota Department of Health (MDH) licensed asbestos inspector
should conduct a destructive survey to identify and locate asbestos -containing materials (ACM). An MDH
licensed asbestos abatement contractor should remove all friable and potentially friable ACM prior to
building demolition. Non -friable ACM (if any) left in place during demolition should be segregated and
disposed of as ACM. In addition, all hazardous substances and building components containing hazardous
substances should be properly disposed of prior to demolition.
I. Conclusions
We have conducted this Phase I ESA of the Site in general conformance with the scope and limitations of
A AM
HJ o ivi rraciice E-1527-13. Any exceptions to, or aeietions from, this practice are described in Section F of
this report.
This assessment identified no recognized environmental conditions in connection with the Site.
This assessment identified no controlled recognized environmental conditions in connection with
the Site.
BRAUN
INTERTEC
City of Monticello EDA
Project 81802027 -112 West River Street
March 21, 2018
Page 21
Additional Considerations
Prior to building demolition, a Minnesota Department of Health (MDH) licensed asbestos inspector
should conduct a destructive survey to identify and locate asbestos -containing materials (ACM). An MDH
licensed asbestos abatement contractor should remove all friable and potentially friable ACM prior to
building demolition. Non -friable ACM (if any) left in place during demolition should be segregated and
disposed of as ACM. In addition, all hazardous substances and building components containing hazardous
substances should be properly disposed of prior to demolition.
J. References
References are listed in Appendix I.
K. Environmental Professional Statement and Qualifications
We have the specific qualifications based on education, training, and experience to assess a property of
the nature, history and setting of the subject property. We have developed and performed the all -
appropriate inquiries in conformance with the standards and practices set forth in 40 CFR Part 312.
Qualifications of the environmental professional and the qualifications of the personnel conducting the
site reconnaissance and interviews, if conducted by someone other than an environmental professional,
are attached in Appendix J.
We declare that, to the best of our professional knowledge and belief, we meet the definition of
Environmental Professional as defined in §312.10 of 40 CFR 312.
BRAUN INTERTEC CORPORATION
Matthew P. Erickson
Senior Scientist
Ja s E"�. Stephan`
Associate Principal — Senior Scientist
RA
INTERTEC
FVaErtl. Jeff O'Neill
SeM: Monday, March 12, 2018 8:31 AM
70. Angela Schumann; Jim Thares
subed.- FW: Forum on Minnesota's Housing Future - In Little Falls on April 5 - might be worth
attending.
Jeff O'Neill
City Administrator
Monticello, MN
763-271-3215
vvww.cl.monticello. mn.us
Email correspondence to and from the City of Monticello government offices is subject to the Minnesota
Government Data Practices Act and may be disclosed to third parties.
From: The Initiative Foundation & the Governor's Task Force on Housing <info@ifound.org>
Sent: Monday, march 12, 2018 8:00 AM
To: Jeff O'Neill <Jeff.Oneill@ci.monticello.mn.us>
Subject: Forum on Minnesota's Housing Future
A
April 155) Forum an Minn� 's Huslo g UtL
11
The Governor's Task Force on Housing wants to hear from you as it identifies and
considers recommendations for securing Minnesota's housing future. There is a
wealth of expertise and knowledge in Central Minnesota. Please join us for a free
regional forum at the Initiative Foundation and share your ideas related to home
ownership, rental housing and opportunities for housing stability in Central
Minnesota.
How can we do better in providing sufficient affordable rental options?
How can we improve stability for individuals and families in transition?
How can we help more people achieve home ownership?
Your voice matters.
Time: 6 to 9 p.m.
Date: Thursday, April 5
Place:
Please forward to elected officials, community leaders, developers, housing
advocates, economic development organizations and anyone else who would benefit
from this discussion.
Questions? Contact the Initiative Foundation 1 (877) 632-9255 I E-mail ( Website
You are receiving this message because you have opted to receive email communications from the
Initiative Foundation. If you'd rather not receive future messages, please feet free to click and follow the
"Unsubscribe" link at the bottom of this message. Thank you!
Initiative Foundation 1 405 First St. SE, Little Falls, MN 56345
Unsubscribe jeff.oneill@ci.monticello.mn.us
Update Profile I About our service provider
RELOCATION BENEFITS 207 891
Monticello - Downtown Redevelopment Project
Estimated Relocation Benefits
April 4, 2018
Prepared by Penny Rolf - 763-231-4868
Displacee
Type of Move
Personal
Property Move
Only
Residential Rent
Fixed Payment Business or Residential Supplement
Move Benefit
Business - Searching Benefit
Business Re-establishment
Bethany Froslie
Residential
$725 $15,666
Ann Smith
Personal Prop.
$3,000
Christopher Weber
Personal Prop.
$1,500
James Brinker
Personal Prop.
$3,000
James Quentin Young
Business
$3,000
$2,500.00
$10,000
Joan Bondus
Personal Prop.
$1,000
John & Sharon Hendricks
Personal Prop.
$3,000
Mare Ferrell
Business
$1,500
$2,500.00
$10,000
Mary Swenson
Business
$2,500
Shiloh Thompson
Personal Prop.
$1,500
$2,500.00
$10,000
Terry Forner
Personal Prop.
$1,500
Lanners Construction
Business
$40,000
Going in Style
Business
$40,000
$2,500.00
$50,000
River Street Station Antiques
Not an Eligile
Business
SUB - TOTALS
$21,500
$40,000 $40,725 $15,666
$10,000
$80,000
RELOCATION BENEFITS 207 891
Staff is seeking funding to create a marketing sign at the site of 103 Pine Street, with good visibility from
MNTH#25. The sign will be effective in marketing essentially the north half of Block 52. This is a draft of
the sign. Feedback from the EDA is appreciated.
Recommendation is to authorize $2,500 to create and place two faced sign on the property, with the
possibility of using the existing common sign on the site. Sign colors have not been determined. The
City of Monticello Communications Director will be involved in selecting colors and signage nuances.
FOR SALE
EDA REDEVELOPMENT SITE
ASSISTANCE AVAILABLE
CONTACT: JIM THARES
&V# 4 ?&Wtd d&
c� 2-x-2 +rM �ne�
763-271-3254
_2
tiF
h yl Y+'L LL•
?y1C_
Combine View with Visibility
Monticello's busiest intersection. Get seen by 35,000 daily!
MN -DOT County Traffic Count Maps, 2014
Perspective from Walnut Street looking across a redesigned West Bridge Park.
Illustrations by U
C I � ' — " CUNINGXRM
lonticeflo ...
For development opportunities contact:
dim Thares I Economic Development Manager
Direct: 763-271-3254 City Hall: 763-295-2711
Fax: 763-295-4404
Jim.Thares@ci.monticeIIo.mn.us
City Hall: 505 Walnut Street, Monticello, MN 55362
www.ci.monticel lo.m mus
- .4 _ ;"moi•_ ;
1•
DEVELOPMENT INCENTIVES:
O10th fastest growing market in
the Greater MSP area
OGreat access:) -94, Hwy. 25,
Cty. Rd. 75 and Hwy. 10
OLowest taxes in Wright County
OFinancial incentives
Extensive fiber-optic networks to
every household and business
O Competitive utility rates
0 Full-service hospital and health
care clinics
0 Talented and available workforce
OExtensive park and pathway
system
—41
High
MonticelloAft
_
_&_a iii ► iii✓iv •
Gateway to Monticello
1y Desirable!
J
Mississippi River views
Downtown Riverfront Development
OPPORTUNITIES
14.0
/ V • ' , � ,
�M+ite
Pfieae
foleX
1 , ► Bandl t
SiN FW tic fS P.
M P�amG4
Monticello is the sub -regional center for Sherbume
health care services, dini - recreation �4 ,'l°ffav p=an«
between St. Cloud and da $pnn� Refugerove. ,.
MWT'OWNTOWN'S TRADE AREA 931500in 2010 andIIS+population was estimated at arinanW4
is projected to have an annual growth rate of 2.2/0.'
Burial*
• Large anchor stores in Monticello (Fleet Farm, Cub Foods, °
Walmart, SuperTarget, and Home Depot) create a;
SECONDARY TRADE AREA. _�`°°�
The combined population of the
12 719 0 i � �����n
Downtown and secondary trade areas was 1 in 2010. � �"=�
• Monticello's 121759
population was
in the 2010 census.
POPULATION GROWTH PROJECTIONS FOR WRIGHT COUNTY
TOTAL POPULATION PERCENT CHANGE
2010
2020
2030
2040
124,700
147,422
171,416
193,679
2010-2020
2010-2040
18.2%
55.3%
Monticello is conveniently located between St.Cloud and Minneapolis along 1-94 and Highway 25, and two miles
from Highway 10.
• Minutes from the Northstar Commuter Station
• 51 miles northwest of the Minneapolis/St. Paul International Airport & 23 miles from the
St. Cloud Regional Airport
WHAT YOU WANT:
Located along the scenic Mississippi River, Monticello boasts:
• Extensive DUAL FIBER-OPTIC NETWORKS to every
household and business
• 29 PARKS AND 17 MILES OF PAVED PATHWAYS,
including a 1200 ACRE REGIONAL PARK.
• EXCELLENT SCHOOL DISTRICT - ranked 26th of 441
Minnesota districts
• PROGRESSIVE MEDICAL FACILITY and Cancer Center
• AFFORDABLE HOUSING
`- — QUALITY WORKFORCE
•COMMUNITY CENTER with pool, fitness area,
gym, meeting and banquet rooms
• 600 seat ICE ARENA
Monticello will work with businesses to analyze project requirements
including: planning, zoning, finance and marketing. Depending on
the nature of the project, the following business incentives may be
available:
LOCAL ASSISTANCE PROGRAMS
• Acquistion of land
• Preparation of sites for development
• Fiber subsidy - Gigabit speeds available
• Tax increment financing, tax abatement, or other
financial tools available to the city.
• Revolving loan programs
REGIONAL ASSISTANCE PROGRAMS
• Wright County Enterprise Fund
• Minnesota Investment Fund
• Small Business Development Loan
Program
TRAFFIC COUNT 35,000 per day
COQ
'r
• High visibilty - 35,000 vehicles
travel Highway 25 across the
Mississippi River bridge on their
daily commute, and vacationers
heading to the lake pass this
way every weekend.
• Beautiful city park to the north
offers views of the river to
ground floor commercial
businesses and "park -facing"
housing units.
ftl
BLOCK 52• is located
in the northwest corner
of State Highway 25 and
County Highway 75
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