EDA Minutes 03-28-2018 (Workshop Meeting)MINUTES
SPECRAIL 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 141H,
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 6tH, 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: \ L4A/,
Jim Thares, Economic Development Director
Economic Development Authority Minutes — March 14, 2018 Page 2 12