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EDA Minutes 11-10-2021MINUTES REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA) Wednesday, November 10th, 2021— 6:00 p.m. Mississippi Room, Monticello Community Center Members Present: President Steve Johnson, Treasurer Tracy Hinz, 011ie Koropchak-White, Mayor Lloyd Hilgart and Councilmember Jim Davidson Members Absent: Vice President Jon Morphew and Hali Sittig Staff Present: Executive Director Jim Thares, Angela Schumann, Hayden Stensgard 1. Call to Order President Steve Johnson called the regular meeting of the Monticello Economic Development Authority to order at 6:00 p.m. 2. Roll Call 3. Consideration of additional agenda items None 4. Consent Agenda a. Consideration of Approving Regular Meeting Minutes — October 13, 2021 b. Consideration of Payment of Bills c. Consideration of Authorizing a Donation to the Initiative Foundation for use in Community Economic Development Programs in the amount of $2,390 from the 2022 EDA General Fund Budget d. Consideration of approving Billboard Lease agreements with Lamar Companies and Reagan Outdoor Advertising MAYOR LLOYD HILGART MOVED TO APPROVE THE CONSENT AGENDA; JIM DAVIDSON SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. Regular Agenda 5. Consideration of Resolution #2021-13 Authorizing entering into a Purchase Agreement with KC & the Boys, LLC for acquisition of real property located at 113 West Broadway in the amount of $528,000 Executive Director Jim Thares provided an overview of the agenda item to the EDA and the public. The 8,552 square foot property is located in the middle of Block 52 and fronts on Broadway and given its location it is critical the EDA's goals of redeveloping Block 52. The proposed purchase price is $528,000. The acquisition of the parcel will give the EDA and City control of 83 percent of the land area in the Block. The two tenants in the building, Elevated Wellness and Preferred Title, will each receive relocation assistance as required in the Federal Uniform Relocation and Assistance Act (URA). EDA Members expressed their appreciation and gratitude towards Cindy Heaton, the seller of the property. TRACY HINZ MOVED TO APPROVE RESOLUTION 2021-13, AUTHORIZING ENTERING INTO A PURCHASE AGREEMENT WITH KC & THE BOYS, LLC FOR ACQUISITION OF PROPERTY LOCATED AT 113 WEST BROADWAY IN THE AMOUNT OF $528,00 FOR THE PURPOSE OF BLOCK 52 REVITALIZATION EFFORTS, CONTINGENT ON PLANNING COMMISSION REVIEW FOR CONFORMITY WITH THE COMPREHENSIVE PLAN. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. 6. Consideration of Shared Parking and Cross -Access Proposal in Block 34, Mike Mitchell, Nicollet Investments, 154 East Broadway Jim Thares provided an overview of the agenda item to the EDA and the public. Mike Mitchell sent a letter requesting the EDA consider selling some of the land held by the City and/or EDA to Nicollet Investments, LLC, the entity that recently purchased the former Barracks rental apartment building located at 154 East Broadway. The main concern for Nicollet Investments is that there is limited parking serving the needs of the renters in the building. The sketch provided by Mr. Mitchell was reviewed and commented on by the EDA members. Community Development Director Angela Schumann summarized the situation by stating that the property owner brought this to staff's attention. Referring to the sketch illustration, she noted the parking spaces that are proposed to be added specifically for tenants would be on the City-EDA owned parcel to the East. Staff do not believe the proposal would be in the long-term best interest of the City-EDA and therefore recommend not approving the reconfiguration of parking on the site. As to the potential for adding diagonal parking spaces directly along the west side of the building Mr. Mitchell owns, staff further noted that if this is the direction and becomes the best solution, the Nicollet owners would likely still need to comply with city standards for parking in the respected district of the City. Also, if cross -access was supported by the EDA, a Conditional Use Permit would be necessary to proceed. Councilmember Jim Davidson asked why there is a sudden need for parking on this site. Angela Schumann said that the city has never asked the property owner to add parking to the site, but it is assumed that there would be more of an appeal to potential residents if parking was included. Jim Davidson said that he is not in favor of doing anything that will potentially harm future redevelopment on the block. Tracy Hinz noted that she was not in favor of selling any piece of the parking lot to the property owner. Steve Johnson noted that if this were to be approved, it would add value to his building, but would affect the EDA and the City's future potential for the block as a whole. Angela Schumann mentioned that the only way to access the parking on Mr. Mitchell's site is through City -owned property. Ms. Schumann also entertained the idea of angled parking on Cedar Street for the tenants of Mr. Mitchell's building. While difficult to accomplish, Mr. Mitchell was opened to the idea. Lloyd Hilgart noted that Cedar Street has the opportunity for angled parking all the way to 3rd street by the current DMV building. If angled parking were to happen for Mr. Mitchell's property, there is potential for it to extend down to 3rd Street. Angela Schumann said that if diagonal parking were to happen on Cedar Street, it would still be public parking due to it being in the public right of way. The City cannot give Mr. Mitchell any exclusive parking on the angled parking spots. It would add more spaces adjacent to his building, but it does not give his tenants the exclusivity Mr. Mitchell is requesting. Lloyd Hilgart said that he does not want to sell any land on this block because of how important it will be for redevelopment. Hilgart asked if the stalls adjacent to his building currently are on City property. Angela Schumann said that the many of the stalls proposed on the illustration are on Mr. Mitchell's property, but the City and the EDA would be asked to approve a cross - access proposal for Mr. Mitchell's tenants because they would need to use City owned property to access the parking spaces. Jim Davidson asked if this were to be considered by the City, and the City said the agreement is good until redevelopment is ready to take place, is that something that can happen. 011ie Koropchak-White said that she appreciated the upkeep of the building on site, she also asked about how many parking spaces there would be if angled parking were to happen on cedar street. Angela Schumann said that her best guess would be four parking spaces. Steve Johnson wonders if the agreement were to take place, is there potential for constriction of redevelopment on the block; he would caution that this could make it difficult to eventually proceed with a meaningful redevelopment proposal. Jim Davidson asked if this was just a discussion on the subject. Angela Schumann clarified that there is no action necessary, decision would be at a City Council meeting. The EDA is being provided the opportunity to offer feedback to Mr. Mitchell. Jim Thares noted that Mr. Mitchell's business partner was present at the meeting. Steve Johnson provided Ethan Johnson the opportunity to speak on the item at hand. Ethan Johnson said that the goal is to find a permanent parking solution for their tenants on site. Lloyd Hilgart said that they cannot predict what will happen in the future regarding the block. Hilgart also noted that it would be beneficial to look at some potential layouts of the block for redevelopment. There may be potential to work with the owners of the building in the future. He understands the appeal parking has to the tenants in the building. Angela Schumann clarified that the building sits on top of the right of way. Jim Davidson agreed that he would entertain the idea Mr. Hilgart brought up though he would rather see the right of way access be on Cedar and not Broadway. Steve Johnson mentioned that the county would agree with Mr. Davidson and would not want to see an access on Broadway Street. Angela Schumann clarified staff will continue working on alternatives to bring back for discussion to the EDA. Steve Johnson asked if EDA members and staff were comfortable with that and to move forward. EDA members and staff confirmed. Steve Johnson asked Mr. Johnson if he had anything else to say. Ethan Johnson noted that he and Mr. Mitchell are committed to bringing high quality tenants to this part of the downtown area and that guaranteed parking will only help the process. Steve Johnson assured Ethan Johnson that if anything were to happen on the block, property owners will be notified ahead of time. 7. Economic Development Manager's Report Jim Thares provided an overview of the Economic Development Manager's Report to the EDA and the public. Steve Johnson made the comment referring to the Multi -Family Development Projects - Proposal Summary that potential residential projects could change the complexion of Monticello, having almost 1,000 new units added to the City. Jim Thares said that if all the proposals move forward that it may end up bringing more retail businesses to the City as well. Lloyd Hilgart asked when Jim would know if Duffy received their federal tax credit. Jim Thares said that staff is planning to reach out to them to touch base. Steve Johnson asked if the City will be ready to proceed if and when that development gets approved for funding by Minnesota Housing Finance Agency (MHFA). Jim Thares confirmed and said that there will be a lot of review and approval steps yet to complete by the EDA, Planning Commission and the City Council. 8. Adjourn TRACY HINZ MOVED TO ADJOURN THE REGULAR MEETING OF THE MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 5-0. MEETING ADJOURNED AT 6:55 P.M. Recorder: Hayden Stensgard Approved: December 8, 2021 Attest: Economic Development Director