EDA Meeting Minutes - 06/22/2022MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, June 22nd, 2022 — 7:00 a.m.
Mississippi Room, Monticello Community Center
Commissioners Present: President Steve Johnson, Treasurer Tracy Hinz, 011ie Koropchak-
White, Hali Sittig and Councilmembers Lloyd Hilgart and Jim
Davidson
Commissioners Absent: Vice President Jon Morphew
Staff Present: Executive Director Jim Thares, Rachel Leonard, Angela Schumann, and
Hayden Stensgard
1. Call to Order
President Steve Johnson called the regular meeting of the Monticello Economic
Development Authority to order at 7:00 a.m.
2. Roll Call 7:00 a.m.
Mr. Johnson called the roll.
3. Consideration of Additional Agenda Items
None
4. Consent Agenda
N/A
Regular Agenda
5. Consideration of Resolution No. 2022-17 Establishing Redevelopment TIF District 1-45
related to Block 52 Redevelopment Proposal by Deephaven Development contingent
on City Council approval
Executive Director Jim Thares provided an overview of the agenda item to the EDA and
the public.
Mark Buchholz of Deephaven Development addressed the EDA and the public.
OLLIE KOROPCHAK-WHITE MOVED TO ADOPT RESOLUTION NO. 2022-17, APPROVING
THE ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 1-45 WITHIN THE
CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1, AND THE ADOPTION OF THE
TAX INCREMENT FINANCING PLAN FOR THE TIF DISTRICT. HALI SITTIG SECONDED THE
MOTION. MOTION CARRIED UNANIMOUSLY, 6-0.
6. Consideration of Endorsing Duffy Development Low Income Housing Tax Credit
(LIHTC) Funding Application Submittal to Minnesota Housing Finance Agency (MHFA)
for a proposed 59-Unit Affordable Housing Development along 7th Street West
Mr. Thares provided an overview of the agenda item to the EDA and the public. Mr.
Thares reminded the body that this item was requested to be brought back for further
discussion following the June 8, 2022, regular meeting. Concerns then included monthly
rates on apartment units in the proposed affordable housing project.
Jeff Von Feldt of Duffy Development addressed the EDA and the public, and gave a
presentation directed towards the unanswered questions related to the proposal.
TRACY HINZ MOVED TO SUPPORT DUFFY DEVELOPMENT WORKFORCE HOUSING
DEVELOPMENT PROPOSAL RELATED TO RESUBMITTAL OF ITS LIHTC FUNDING
APPLICATION TO MHFA AND POTENTIAL FUTURE USE OF TIF ASSISTANCE. HALI SITTIG
SECONDED THE MOTION.
Discussion
Mayor Lloyd Hilgart wanted to make the note he appreciated the efforts by
Duffy to work towards lower rents for the project proposal.
MOTION CARRIED UNANIMOUSLY, 6-0.
7. Consideration of Accepting Block 52 Pre -Demolition Hazardous Materials Survey
Reports completed by WSB & Associates
Mr. Thares provided an overview of the agenda item to the EDA and the public. Five site
reports for specific buildings have been completed and provided to the EDA. This
motion would accept 5 of the 6 reports that have been received. The WSB consulting
staff completing the survey work indicated that one property would need to have
additional testing to ensure that the Hazardous materials that were found in the
building were limited to those locations. The final report will be received within the
next week for the EDA to accept at the next regular meeting.
HALI SITTIG MOVED TO ACCEPT THE BLOCK 52 PRE -DEMOLITION HAZARDOUS -
REGULATED MATERIALS SURVEY REPORT FOR SPECIFIC BUILDINGS IN THE
REDEVELOPMENT AREA OF THE BLOCK COMPLETED BY WSB & ASSOCIATES. JIM
DAVIDSON SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0.
7.5 Consideration of Authorizing a Subordination Agreement between the EDA and North
American Banking Company and M & B on Chelsea, LLC related to the EDA OCBP
parcel conveyance to M & B on Chelsea, LLC
Mr. Thares provided an overview of the agenda item to the EDA and the Public. This
item was added after the agenda's original posting for the EDA to review and consider.
The subordination agreement is required by state law in the event that the proposed
project directly related to the land conveyance does not move forward.
JIM DAVIDSON MOVED TO AUTHORIZE THE SUBORDINATION BETWEEN NABCO AND
M&B ON CHELSEA, LLC RELATED TO THE EDA CONVEYANCE OF 11,263 SQUARE FEET OF
LAND IN OTTER CREEK BUSINESS PARK (OCBP) TO M&B ON CHELSEA, LLC. OLLIE
KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0.
Treasurer Tracy Hinz left the meeting following the motion and vote of agenda item
#7.5, leaving 5 voting members to complete the agenda.
8. Economic Development Director's Report
Mr. Thares provided an overview of the agenda item to the EDA and the public.
9. Adjourn
HALI SITTIG 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 8:15 A.M.
Recorded By: Hayden Stens ard/
Y g
Date Approved: September 14, 2022
ATTEST:
Jim �'hares.lExecutive Director