EDA Meeting Minutes - 08/18/2022MINUTES
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Thursday, August 18, 2022 — 7:30 a.m.
Academy Room, Monticello Community Center
Members Present: President Steve Johnson, Vice President Jon Morphew, Treasurer Tracy
Hinz, 011ie Koropchak-White, and Councilmembers Lloyd Hilgart and Jim
Davidson
Members Absent: Hali Sittig
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 Eda to order at
7:35 a.m.
2. Roll Call
Mr. Johnson called the roll.
3. Consideration of Resolution No. 2022-26 Modifvine the TIF District No. 1-45 Plan
budeet in connection with Deephaven Develoament's Block 52 Mixed Use Proaosal
Executive Director Jim Thares provided an overview of the agenda item to the EDA and
the public. The modification is related to the "Sources and Uses of Funds" section of the
plan. The proposed modification would not alter the TIF Plan activities nor the proposed
development in any manner.
LLOYD HILGART MOVED TO ADOPT RESOLUTION NO. 2022-26 APPROVING A
MODIFICATION OF THE TIF PLAN FOR TIF DISTRICT NO. 1-45 REVISING THE SOURCES
AND USES OF FUNDS BUDGET. OLLIE KOROPCHAK-WHITE SECONDED THE MOTION.
MOTION CARRIED UNANIMOUSLY, 6-0.
4. Consideration of authorizing a Right of Entry with Deephaven Development for the
Block 52 development site related to Structure Demolition activities for specific
property addresses 103 Pine Street and 112 West River Street.
Mr. Thares provided an overview of the agenda item to the EDA and the public. The
Right of Entry with Deephaven Development would allow the developers to begin
demolition efforts at the above -noted addresses before the closing of the property
would occur. It should be noted that the EDA attorney advised that the EDA wait until
closing occurs prior to any demolition happening, though stated this is a policy call for
the EDA. The developer has noted that the Right of Entry would help keep the project
on the desired timeline of completing footings by late October and delivery of the
concrete underground garage wall and ceiling panels by early November, 2022.
Mark Buchholz, of Deephaven Development, further explained the critical work tasks in
the timeline. He stated that if progress cannot be achieved on structure demolition this
fall, it would be best if the work is delayed until the spring of 2023 due to the issues with
the amount of excavation in the development and the safety and security of the site.
LLOYD HILGART MOVED TO AUTHORIZE A RIGHT OF ENTRY WITH DEEPHAVEN
DEVELOPMENT FOR THE EDA OWNED PROPERTIES AND BUILDINGS IN BLOCK 52 FOR
THE PURPOSE OF STRUCTURE DEMOLITION ACTIVITIES SPECIFICALLY FOR BUILDINGS
LOCATED AT 103 PINE STREET AND 112 WEST RIVER STREET. JON MORPHEW SECONDED
THE MOTION. MOTION CARRIED UNANIMOUSLY, 6-0.
5. Consideration of EDA Loans Performance Status Update
6. Adjournment
Tracy Hinz moved to adjourn the regular meeting of the Monticello EDA. Jim Davidson
seconded the motion. Motion carried unanimously, 6-0. Meeting adjourned at 8:20 a.m.
Recorded By: Hayden Stensgard
le -
Date Approved: October 12, 2022
ATTEST: