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HRA Agenda 01-08-2003 . . . AGENDA MONTICELLO HOUSING AND REDF:Vf,LOPMENT AlJTlIORITY Wednesday, January 8, 2003 - 6:00 p.m. 505 Walnut Street - Bridge Room Comm iss ioners: Chair Brad Barger, Vice Chair Steve Andrews, Darrin Lalu, Dan Frie, and Bill Fair. Council Liaison: Roger Carlson. Staff: Rick Wolfsteller, Ollie Koropchak, and Lori Kraelller. 1. Call to Order. 2. Consideration to approve the December 4,2002 HRA lninutes. 3. Consideration of adding or removing items from the agenda. 4. Consent Agenda. 5. Consideration to review Specifications and Bids for the Front Street Grading project and authorize payment to Veit & Company, Inc. 5.5 Consideration of request from Front Porch Associ8tes, Ltd. to amend the Contract for Private Devcloplnent dated May 1,2002. 6. Continued - ('onsicleration to hear 8n update on the progress for redevelopment of a portion of Block 52. a) Consideration of an update ofthe Pre-Design Concept meeting between ./ohnson Te8111 and City Staff/Consultants. b) Consideration to discuss terms and conditions ofthe Contract for Private RedeveloPlnent between the liRA and SC./ Developlnent Group, LLc:. c) Consideration to authorize an appraisal of the I-IRA Broadway lot and call Cor a public hearing Cor disposition of lands. 7. Considerat ion to hear an update on the progress for redevcloplllent of a portion of R lock 5 I (Sawatzke). 8. Consideration to hear concept plans for redeveloplnent of Block 35, Phase II. (Masters Fifth A venue, Barry Fluth). 9. Consideration to authorize payment of HRA bills. 10. Considemtion of Executive Director's Report. 11. Committee Reports. 12. Other Business. 13. Adjournment. . . . MINUTES MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Wednesday, December 4, 2002 - 6:00 p.m. 505 Walnut Street - Bridge Room Commissioners: Absent: S ta ff: Chair Brad Barger, Dan Frie, Bill Fair and Council Liaison Brian Stumpf Darrin L,ahr and Steve Andrews Rick Wolfsteller, Ollie Koropchak, and Lori Kraemer 1. Call to Order. Chair Brad Barger called the meeting to order at 6 p.m. and declared a quorum. 2. Consideration to approve the November 6, 2002 HRA minutes. A MOTION WAS MADE BY BILL FAIR TO APPROVE THE MINUTES OF THE REGULAR BRA MEETING ON NOVEMBER 6. 2002. DAN FRIE SECONDED THE MOTION. MOTION CARRIED. 3. Consideration of adding or removing items from the agenda. None 4. Consent Agenda. 5. Continued - Consideration to hear an update on the progress for reclevelonment of a portion of Block 52 and 51. 5a. Consideration to approve entering into a Preliminary Development A2:reement with Steve Johnson for Phase I. Executive Director Ollie Koropchak advised the HRA that she had spoken with Steve Johnson earlier that day and he stated he would be meeting with Jim McComb that evening and he would be in contact with her. Koropchak again advised of the time line concerns rcgarding TIF and Johnson felt they could meet the time lines. He also advised Koropchak that he would be in this \veek with the deposit and to sign the agreement. Johnson would also likc to include Phase II in the preliminary agreement. Koropchak asked the HRA members to make a motion authorizing her to sign the preliminary agreement and accept the deposit if they were in agreement The bcnefit to including Phase II in the preliminary agreement is for the I-IRA to look at future public improvements as it would be more encouraging if the HRA knew there were pri,vate investments. Koropchak \vill also modify the agreement to state "negotiate" rather than "execute" in order to meet the time table for the public hearing. . HRA Minutes - 12/04/02 A MO'TION WAS MADE BY BILL FAIR TO APPROVE ENTERING INTO A PRELIMINARY DEVELOPMENT AGREEMENT WITH STEVE JOHNSON FOR PHASE I AND II OF THE BLOCK 52 MIXED USE DEVELOPMENT, PHASE II SUBJECT TO TIME FRAMES. AND AUTHORIZE KENNEDY AND GRA VEN TO BEGIN PREPARATION OF THE CONTRACT FOR PRIVATE REDEVELOPMENT, CONTINGENT ON RECEIPT OF A DEPOSIT IN THE AMOUNT OF $5,000. DAN FRIE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSL Y. Sb. Consideration to hear proiect uodate bv Sawatzke. . Pat Sawatzke advised the HRA members that he has been working with the architect and builder, focusing on the proposal with the underground parking, as this option provides more river vicw. He stated that the estimated cost at this time for construction. tear-down and rebuild is $3.2 million and he now needs to determine what kind ofrevenues can be made. Sawatzke advised that this estimate includes parking, site grading and paving. He also advised that the buildings would have brick or stone fronts. The underground parking would provide for 1 space per residential unit and there would also bc storage lockers underground. lhe second and third floors would be residential with ground floor bcing commercial. He stated that the rental units would be approximately 1,000 sq. ft. v'Iith:2 bedrooms. and possibly 6 units per floor. Sawatzke added that the apartments would be only on one side of the building due to the physical size of the property as well as the view of the river. He stated this creates more wasted space in the corridors, but allows for each unit to have river view's. Koropchak advised something that would be beneficial for the HRA would be to look at expending some of their dollars and she asked Sawatzke at what point would he feel comfortable in signing a preliminary agreement or a deposit. Sawatzke did not feel he was ready fiJr that at this time. but possibly in several months. They discussed parking as well and Sawatzke stated he had a different idea of parking than Steve Johnson did. He will be interested in parking discussions as they develop. They encouraged Sawatzke to proceed and come back. Sc. Consideration to hear summarv of parkin2: requirements for redevelooed area. Koropchak stated that Jeff O'Neill and Steve Grittll1an calculated the amount of parking spaces needed for Steve Johnson' s project Phases r and II. They advised with Stevc' s Phase I & f1 plans and using the 60% rule, public parking lot, as well as parking on both sides of Walnut Street Sawatzke' s project should break even but Johnson may have to pay into the parking fund. Koropchak added that this wiII all need to be rccalculated as Grittman did not have the square footage for the existing Block 51 at the time of the parking study. ~ WI' 2 . . . HRA Minutes - 12/04/02 Koropchak advised that the HRA could consider looking at TIF Dist. 1-22 bond money proceeds which arc left to spend, as well as public improvements. She provided some options regarding parking as well. Bill Fair asked about the parking fund and she advised that the City has been putting money into the parking fund, but she did not know how much, if any, was available. Rick Wolfsteller stated thcre was not very much in the fund as it has becn expended already. Koropchak advised that John Simola mentioned that water/sewer lines along Walnut St. would need replacing with a new project. She stated that if the HRA was interested in proceeding with any of those options, they may want a commitment from the developers. A decision whether to open Walnut Street at River Street would need consideration, this would be a City Council decision. Bill Fair stated that there has to be commitments from the developers before the HRA could look at their options fl.)r investment stating the developer 'vvill steer the HRA. He asked if the developers had looked at possibly a public corridor or pass-through on their block so that there was access to the opposite side, encouraging the public to park where there is available parking and walk through the corridor. He added that this makes it easier for the public to get in and out. There was no further discussion. 6. Consideration to authorize pavment of HRA bills. There was discussion on the overcharges for the Front St. project for excavation. Rick Wolfsteller advised that it was not a IUlllp sum bid, but that it was estimated by the engineer and the bid was based on that number. Wolfsteller stated that he agreed the amount should be owed. however the question would be should the engineer have studied this further prior to bids. A MOTION WAS MADE BY BRAD BARGER TO PAY THE $45.00 INVOICE TO KENNEDY AND GRAVEN AND TABLE THE PAYMENT OF "THE FRONT STREET SITE GRADING UNTIL rURTHER INFORMATION IS OBTAINED. DAN FRIE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSL_Y. 7. Consideration of Executive Director's Report. · Koropchak provided the report adding that regarding Tiff District 1-21, Mark Ruff had advised not to retire that district. · Comp Plan Task Force \vill be meeting on Thursday. · Collected final payment fi'om Aroplax for tax deficiency 8. Committee Reports. There were no reports. 9. Other Business. There was no other business. 3 . 10. Adiournment. HRA Minutes - 12/04/02 A MOTION WAS MADE BY BILL FAIR TO ADJOURN THE MEETING AT 7: 15 P.M. BRAD BARGER SECONDED THE MOTION. MOTION CARRIED UNANIMOUSL Y. HRA Chair Recorder . . 4 . . . lIRA Agenda - 1/8/03 5. Consideration to review Specifications and Bids for Front Street Site Grading project and authorize payment to Veit & Company, Inc. A. Reference and back2:round: At the December HRA meeting, the commissioners requested further information on the Front Street Site Grading Invoice prior to authorizing payment. The comlnissioners asked for a copy of the specifications and a copy of the submitted bids. They questioned: How can the award bid and actual billing be so far apart? Were the specifications clear and complete? Mr. Bret Weiss, WSB, Inc., and a representative fi'om Veit & Company will attend the lIRA meeting to explain and respond to questions of the commissioners. B. Altenltive Action: 1. A motion to authorize payment of the Front Street Site Grading invoice to Veit & Company, Inc. in the amount of $9] ,379.55. 2. A motion to authorize payment of the Front Street Site Grading invoice to Veit & COlnpany, Inc. in the amount of $_____________ " ", . A Inotion to table any action. C. Recommendation: Although the amount or the bid $67,9]3 and adjusted invoice $91,379.55 is a large increase, the Administrator and Econornic Development Director recolnmend the invoice be paid in the amount of $9] ,379.55 as Veit did have over-run costs in fill. excavation, and grubbing. The city engineer did adjust and reduce the invoice consistent with the unit price bid for till and excavation. D. SUopol"ting Data: Excerpts fi'on1 Specifications and copy or bids. .. WSB - .SSOciotes, Inc. . 4150 Olson Memorial Highway Su ite 300 .eapOliS .... ,nnesota 55422 7H 541-4800 763.541.1700 FAX November 9, 2001 m\ r:~~~::;~::-F~~..~~;;' '::~'-~~~; i'::~~~~:~~~,.--! O I;... (, ." ".... " "i 'c. II \'.' ~r~=;~'3J ~01~1~ Ms. Ollie Koropchak City of Monticello 505 Walnut Street, Suite 1 Monticello, MN 55362-8812 RE: Proposed Engineering Fees for Block 54 Redevelopment WSB Project No. lOl()-OO Dear Ms. Koropchak: We are writing this letter with regard to your request of a cost to provide a Request for Proposals (RFP) for grading the above-referenced site. It is our understanding that the City of Monticello has acquired several parcels in the area just south of Front Street between Walnut Street and Locust Street with the intent of redeveloping the site into ten (10) townhome lots. The issues that relate to the redevelopment of the site include demolition of existing buildings, grading of the existing properties, and reconstruction of streets and utilities along Front Street to service the property. It is our understanding that an RFP has already been prepared for completing the demolition of the buildings on the site, not including filling the existing basements. You had questioned whether or not it would make sense to complete the grading of the site in conjunction with the demolition of the buildings. While there are certain contractors that could complete both of these activities, I would not anticipate that there would be a great savings to complete it all as one package. The only exception would be that the basements would be filled and would not present the safety concern of having an open hole. That COilCcrn could be rectified through the use of construction fencing around the holes. There are several other issues that need to be addressed with regard to completing the RFP for grading the site. Those issues are identified as follows: I. The draft grading plan that was completed for the site has identified several issues that must be addressed prior to preparing the RFP. . Walnut Street is approximately two feet higher than Locust Street, which creates issues for providing access through the site in keeping the elevations as low as possible to minimize grading operations. It may make sense to only access the site from Locust Street or revise the grades for the driveway from Walnut Street. . The site plan identifies the placement of curb adjacent to the property line on the south property line. which is closer than is typically allowed by ordinance. oft Minneapolis SL Cloud. Equal Opportunity Employer F:\\VPWIMIOJO-O(JJ 10901 -ok,doc . Ms. Ollie Koropchak November 9,2001 Page 3 Please give me a call at (763) 287-7190 if you have any questions or comments regarding this information. Sincerely, WSB & Associates, Inc. Ifttr,4-. t1I~ "'1 S~ Bret A. Weiss, P.E. City Engineer sb . . F.-\WPWIMlOJO-{)(N J090J-ok.doc - - . Ms. Ollie Koropehak November 9,2001 Page 2 . Construction of the alley adjacent to the property line will ereate a five-foot drop-off to the existing property south of Block 54. This will either need to be sloped to the south or a retaining wall constructed, which could be very expensive if it is intended to support the proposed alley. In addition, there are stormwater-related issues in this area due to raising the Block 54 site. . The grading plan identifies raising the site anywhere from two to five feet, which would need to be structural fill and will be a relatively expensive proposition. We have estimated anywhere in the neighborhood of 5,000- 10,000 cubic yards of granular material will need to be provided to the site, not including what is needed to fill in the basements. We have estimated a construction cost of between $75,000 and $100,000 to grade the site assuming that no major soil correction is necessary. 2. Soil Borings: We recommend that soil borings be taken on the site to verify soil conditions prior to preparation of the RFP. This will assist us in determining if there are unsuitable soils that need to be removed from the site and provide better information for the bidding process. It is estimated that soil borings will cost approximately $2,000 for the site if combined with soil borings for the Front Street utility reconstruction. 3. Phase I Environmental: We would need more information to determine if it would make sense to complete a Phase I Environmental Review of the site. However, if one is determined to be necessary, a rough cost would be between $3,000 and $5,000. 4. Grading Plan: Prior to preparation of the RFP, a grading plan would need to be completed encompassing the information previously discussed along with revisions to the site plan to make sure that grading work that is to be completed can be utilized for multiple site designs. We would estimate a fee of $800 to complete the grading plan for the site once all the information is provided and a site plan addressing ordinance issues is developed. We would recommend that the City Planner look at the site plan layout prior to the grading plan being prepared. 5. RFP Preparation: WSB would prepare the RFP for grading the site for a cost of $500, which would get the process through the bidding process. It is assumed that construction of the grading would be managed through the City Public Works Department. 6. Soil Testing: During the grading operation the soil testing will be necessary on the site to make sure that compaction work is completed according to the specifications. It is estimated that those geotechnical services will range between $2,000 and $3,000. F:\WPWIMlOIO-O(JJ I0901.ok.doc I I I. I I I I I I I. I I I I I , I ,. I ADVERTISEMENT FOR BIDS FRONT STREET HRA SITE GRADING FOR THE MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY WRIGHT COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN that sealed bids will be received by the City of Monticello HRA at the office of the City Administrator until 10:00 a.m., Thursday, June 27, 2002, at the City Hall and will be publicly opened and read at said time and place by representatives of the City of Monticello. Said proposals for the furnishing of all labor and materials for the construction, complete in-place, of the following approximate quantities: 1 1 3,200 9,000 LUMP SUM LUMP SUM CUYD CUYD GRUBBING SITE GRADING COMMON EXCAVATION SELECT GRANULAR BORROW The bids must be submitted on the Proposal Form provided in accordance with the Contract Documents, Plans, and Specifications as prepared by WSB & Associates, Inc., 4150 Olson Memorial Highway, Suite 30~ Minneapolis, MN 55422, which are on file with the City Administrator of Monticello and may be seen at the office of the Consulting Engineers or at the office of the City Administrator. Copies of Proposal Forms and the Plans and Specifications for use by contractors submitting a bid may be obtained from the Consulting Engineers, WSB & Associates, Inc., 4150 Olson Memorial Highway, Suite 300, Minneapolis, MN 55422, upon deposit of Thirty-five Dollars ($35.00) (non-refundable) per set, which includes Twenty~Five Dollars ($25.00) for the Standard City of Monticello Specification. If you purchased plans in Monticello in 2001 and already have the City Specification, the plans can be purchased for Ten Dollars ($10.00). Once a Standard City of Monticello Specification is purchased, future purchase of plans may not require additional purchase of the Standard City of Monticello Specifications for the year 2001. No bids will be considered unless sealed and filed with the City Administrator of Monticello and accompanied by a cash deposit, cashier's check, or certified check, or bid bond made payable to the City of Monticello for five percent (5%) of the amount bid, to be forfeited as liquidated damages in the event that the bid be accepted and the bidder fail to enter promptly into a written contract and furnish the required bond. No bids may be withdrawn for a period of forty-five (45) days from the date of opening of bids. The City of Monticello reserves the right to reject any or all bids. DATED: June 10, 2002 BY ORDER OF THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MONTICELLO, MN sls PUBLISHED IN THE: Monticello Times: Construction Bulletin: June 13, 2002 and June 20, 2002 June 14, 2002 WSB PROJECT NO. 1160-46 i I!: ," I" I j: Iii :ft II' il I I I I I Sf? . RESOLUTION NO. 02-09 RESOLUTION ACCEPTING BIDS FRONT STREET SITE IMPROVEMENTS WllERh.'"L)'. pmsuant to an advertisement for bids for the improvement of property abutting Front Stn::t:t between Walnut Street and l.ocust Street by site exeavation. grad ing. site work and all necessary appurtenant work. bids were received. opened and tabulated according to law. and the following bids were received complying with the advertisement: CONTRACTOR TOT AL BASE BID Veit & Company $67.913.00 Schluender Construction $68.750.00 Dennis Fehn Gravel 1& E_,cavating $73.195.00 OM.! Corporation $88.700.00 Fyle Excavation $99.975.00 Landwehr Construction. Inc. $108,326.00 WHEREA5i. it appears that Veit & Company of Rogers. Minnesota is the lowest responsible biclcler. .NOW THEREFOf?E, BE IT HEREBY RES'ULVED BY TIlE CITY COUNCIL OF M)NTICELLo. AIINVESUTA: I. The Housing and Redevelopment Authority is hereby authorized and directed to enter into the attached contract \vith Vl.:it & Company of Roger, Minnesota for the improvement of property abutting Front Street between Walnut Street and Locust Street by site excavation, grading. site work and all necessary appurtenant \\ork according to the plans and specifications therdor approved by the City Council and on tile at the city ortices. 2. The Ilousing and Redevelopment Authority is hereby authorized ancl directed to return forthwith to all bidders the deposits made with their bids except that the deposits of the successful bidder and the next lowest bickleI' shall be retained until a centract has been signed. Adopted by the 11,1using and Redevelopment Authority this 27'h day of June. 2002. O~ ~O\ 0 r:>J).~ Executive Director ~=--~ . sc-- JUL-12I2-21211212 i.;.?;:' . ..... " ~ :'\WSB - .~.1N:. . ..,:.. q' .~ . . ::.~ '!i .~~! !: .~ I. : . ~ I;, , . i i . . ~; , .;. "~. ~~. ; ~.': l: . :~~ : i- It " : . '../' . '. ., ~ '\:-. .~, :Jj; I,'. ' V\::. r; "..' , ~ ", J:~''':.J r "Ilr'~ . ~: :2~~~'~: .. ,II "4150:OlsDrl; : , Me~ISJ;~ay , : .': ~~~~r.~!.~,:' . :1. Suite' 399;: ii'~.!.: ': ~~, . " :'~ ~~;,:: ' : , I.,. .~~l.. !' '''J; ~ . :~'I~:~it- ~ 1!J!1 :f1i t" t, \.> ~::' : :: , :~~.~. ...:.',~I~.'I~j~k" . 515422!, .~'" ~0'.' ~ .-. ',"",I~...~" ~,'O.~,', "',"1::" ::~ 763i . " "..... 0 r .:onrTClTC'C:: TloJr 76354117121121 7635411 7121121 12:49 & SOCIRTES INC. July 2. 2002 Mr. Bart Anderson Veit &. Company, Inc. 14000 Veit Place Rogers. MN 55374 RE: Preconstruction Conference Front Street Site Grading Grading and Appurtenant Improvements City of Monticello Project No. 200 l..Q6C WSB Project No. 1160-46 Dear Mr. Anderson: A preconsttUction conference for the above-referenced project has been scheduled for Monday, July 8, 2002 at 8:00 a.m., at the Monticello Community Center. The Monticello Community Center is located at 50S Walnut Street. Please furnish us with a list of suppliers, subcontractors. and a detailed work schedule for the above-referenced project. Your attendance, as well as your job superintendents and any applicable subcontractors, is appreciated. A date for the notice to proceed will be detennined at the preconstruction conference. Sincerely, WSB &: Associates, Inc. ~4~ Bret A. Weiss. P .E. City Engineer cc: Ollie Koropchak, City of Monticello Jeff OJNeill, City of Monticello John Simola, City of Monticello Tom Bose, City of Monticello Deb Cofield, Xcel Energy Rick Pilon. Reliant Energy Matt Graunke, Charter Communications Ron Yager, IDS Telecom sb P.l2ll/~~ P.12I2/1212 50 "..;..._~........II... r"4 ,.I_....J ........1"'" ..1..' F~\VlPW1M' I~P........... ,.. .J_. TOTRL P.12I2 NOU-26-2002 1219:35 jt\l!.'~ ~\:WSB ...... ' t#~;m.,. Int;. .';"':':'~ . ~';.,.:. :,:.~!;fY.. ,F. .,.1....." ;~,..~:~c. , t~. ,~...:;i{. ~~~'t(,1 j \", ~t~'~~\L ~ t-:~'. WSB & ASSOCIATES INC. 763287717121 P.12l2/12l6 November 26, 2002 Ms. Ollie Koropchak, Economic Development Director City of Monticello lIRA 505 Walnut Street. Suite 1 Monticello, MN 55362 Re: Constructi~n Pay Voucher No.1 Change Order No. 1 Front Street Site Grading City of Monticello Project No. 2001-o6C WSB Project No. 1160-46 Dear Ms. Koropchak: Please find enclosed Construction Pay Voucher No.1 in the amount of $91,379.55 and Change Order No.1 (each in triplicate) for the above-referenced project for your review and signature. The change order accommodates the rubble removal and overages in the common excavation. select granular borrow, and grubbing items. and reflects a net increase of $29,186.00 to the original contract amount. The pay voucher does inclUde payment for the change order at this time. If you have any questions regarding the above, please do not hesitate to contact me at (763) 287-7190. Sincerely, WSB & AssDcitUes, Inc. 1SJA. LJ~ Bret A. Weiss, P.E. City Engineer Enclosures cc: Veit & Company, Inc. sb Sf, MinncO\polis' St. C:loud, EquOIoI opportu~s-.GmJ/lrilv..1COIlJ'0y.dK NOU-26-2002 09:36 WSB & ASSOCIATES INC. 7632877170 P.03/06 '".d~1 '. II':'~.'-J'I""= :-\'.~'.I~loIF'~"'1"":'t..".~~......- Pto' r:~~":..~'-'.'-""'J"'-~l~}~-: ~"I"'~" ....).......L.::, .~....,...\.....,.I~,~-\h;.~...,~;.I.Jo~,i~~'-;I""~.~I:'1.~......h'-;:ll~~ r::~.::j:t..'tl'. d" .'.~.,j II"... "'-1~1", ~ II LIo4.. I..... - 'l. 'f!;.~.....I1 .,}-' I l'i ~"( rl,,~(,1 Lf:..J{"'l-lj 'II . ," '. 1...f"":11- .'.,......, ":1 r .!, .' .",""I""I~ J-JI1" ..; l.lt~l(.\;j~i'-' "';;'\'1'-:" '''j'''' I..~ ./,: I ",', - I r :'''' ,- ....". ..J. .1 -:'1 :;).! 1- -' '_ ,I. ~ - I '; ~. ,,1. :~... j." I. ...f)'o-+~r~If"l'~~~'~"ll~,~lJ.t:~~tJX,,,\y.,'i" ~~l.iiU!t,1fc;'J;~J~IN-"" r~ =\. Voucher No. 1 Date: Period Ending: Oc:tober 30, 2002 October 31, 2002 . proJl:tct: Front Street SIte Grading City at MontlceDo Project No. 2D01006C WSB Project No. 1160-48 Contractor: Velt & Company, Inc. 14000 Velt Piace Roge..., UN 66374 Contract Date: CompletIon Date: June z:r, 2002 July 19, 2002 Work Started: Work Completed; Original Contract Amount Total Additions Total Deductions Total Funds Encumbered Total Work Certified to Date Less Retained Percentage L.ess Pruvious Payments Total Payments Incl. This Voucher Balance Canisd Forward Approved for Payment This Voucher $67,913.00 $29.186.00 $0.00 $97,099.00 5.00% $96,189.00 54,809.45 $0.00 $91,379.55 $5,719,45 $91.379.55 Aporovals. .W$B & ANoclat.a,-lnc, ' In aeeordance with field observation, a8 performed in accordance with inclust!y standards, and based on our professional opinion. the materials installed are satisfactory and the work property performed in accordance wIth the plans and specifications. Ths total work estimated to be cOfl1)leted as of October 31, 2002 Is as Indicated herein and we hereby recommend payment I 100"" oI__cI1e,. . . \ . S;....d: Signod: ~ k.Wt144 Construction Observer Project Manager/Enaineer Velt .. Company, Inc:. This Is to certify that to the best of my knowledge, information, and ballef. the quantitie8 and values of work certified herein is a fair approximate estimate for the period covered by this voucher. Contractor. Signed: Titie: Dale: CIty of Monticello HRA Checked by: .App~8d tor Payment: Authorized Representative Date: Date: . 6( F:\WPWrNl77IQoofB1&ulL5lr. Gllnllafl Vo......,V01oC_ NDU-26-2002 09:36 WSB & RSSDCIRTES INC. 763287717121 P.1214/1216 ~ .. . 1 ~! ~ N 1"'3 . ~ ..". ~ ~ GII .", ; 8.~~ ~ ~ ~ '8 ~ ~ ~ "'! . ~ f i ~~~l~ lJl .. .lll.~~g . " .. ... ~! -&&i!;;~ Ii :"~41 ! t .. c .... ~ 1- ~ 1" ~- 8! ~ ~ ~ ~ ~ :;; ...., ... ~ ~ - I a -.1:: I :J .. ai C\I N Q ~ ~ ~.~ . . 1" ~ ~'~I~ ~ ~ l1: ,j/;, ~llll~i ~ ... 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The common Qlf.Cllvatlon and granular borrow quantlrles \.IAre increa;ed to account for the higher amounts of topsoil that were found during CO/1SlNcllon. Additional trees were required to' be grubb8d within the conatJuctlon Ilmll$, SEe ArrACHED DETAIL FOR QUANTITIES AND COSTS. IT IS UNoeRSTOOD THAT THIS CHANGE ORDER INCLUOES ALL ADDmONAL COSTS AND TIME EXTENSIONS WHICH ARE IN ANY WAY, SHAPE, OR FORM ASSOCIATED WITH THE WORK eLEMEN'rS DESCRIBED ABOVE. CHANGE IN CONTRACT PRICE: CHANGE IN CONTRACT TIME: ORIGINAL CONTRACT PRICE: PFlEVIOUS CHANGE ORDERS: NO, _ TO_ .CT PRice PRIOATO THIS CHANGE ORDER: NET INCREASEJDECREASE OF THIS CHANGE ORDER: CONTRACT PRICE WITH ALl. APPROVED CHANGE OROEA~ $67,913.00 $0.00 $67,913.00 $29,186.00 $97,Cle9.o0 ORIGINAL CONTAACT TIME: NeT CHANGE FROM PREVIOUS CHANGE ORDERS: CONTRACT TIME PAIOR TO THIS CHANGE ORDER: NET INCREASE OF CHANGE ORDER: CONTRACT TIME Willi APPROVED CHANGE ORDERS 7/1912002 NONE 7/1912002 NONE 7119/2002 Reca.M&! A. ~ Brat A. Wela$. P.E., Project Manager APPROVED SY: WSB & ASSOCIATES. INC. ENGINEER VEIT & COMPANY, INC, CONTRACTOR APPROVED BY: &:J. ~~ cnvAINEEA MAYOR " I z,'S/OZ DATE -e r M "'/ ,",llWlI>'IMn~(i1WlltKl v~, NOU-26-2002 09:37 WSB & ASSOCIATES INC. 7632877170 P.06/06 ~~~;~:~:~~!~, _'~~.~~:,~'.. ',:' : ~"~',' ':_~..,,~~:':...'._,:.'~':~"~~~:~':!;':~':;"~-~l:~~'~ _ ...~_~~:;~~..~:~~! ::". <~':;~~~~ ~:..~~.~'}'~(il:t<.'~~~:~~j ~;:;l' . Front Stnlet SIr. Grading CIty of Uonllcello Project No. 2OO1-oec WSB Project No. 1181).48 ADDED QUANTT11ES: Extended Item No. Mal No. DMcrlpUon Qty Unit Price Amount 1 RUBBLE REMOVAL AND DISPOSAL LUMP SUM $8,214.00 $8,214.00 2 2105.501 COMMON EXCAVATION 2,898 CUYD $150 $4,347.00 3 2105.522 SeLECT GRANULAR BORROW 2,865 CUVO $5.00 $13,325.00 .4- 2101.507 GRUBBING 11 TREE 5300.00 $3,300,00 TOTAL ADDED QUANTITIES $29,186.00 . . SI F:lWl"WMl1...-.&GIIi'I8D __ __N:I'U "-'<III TOTAL P.06 ~ NOV-25-02 MON 4:35 PM ~ ~ . . . .,':, ":'1" ;l PUBL! C WORKS "/'\1 ~ I'...~r{ I t(',. 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C! 0 :i .... -f- g Q - II) -:: -- ... '"' s '-f. ~ .0 .- a '", -- t") "" ~T1 .:.. I".. tJ ..~~ ':; - <: ~s~ ilia !J't$ toc* w~i. ,~J ~ >- >- ~~ (,)0 I ~ x~ ~::; ~ ~ "":0 0 .... u g I 'i IS I 9- i ~ ~ IS I Il- III .. i ll:l '" => III ~ ~ .. .g ... ~ ~ LIl ~ E 8 u \" .l'- t\ .1' p"'" S (lJ~~~~"~,' ") ~;e<J; " 7.: .... '. x~.,".: ~, ~. ~ S" <> ~ 1.. ~ '- <S ~ S .....+- ::=:. <\:) ...... ~ '\oJ :s ;$ ...s ....... IV -, -\-. - - >->- >- ~G ~~ uu (,) i i IX. llz X ~ ~~ ~ !2 ~ :i ..s d C"roi 0 ..- d <li u I n 1I!l ... .i s B i I i i :t all ~ "" ts J ~ 8 .. "' ... ii: iii1 '2 S 5 I- .... 0- en => ~ ~ ~ " iJ o C-J ~) . 5.5 . . H RA Agenda - 1/8/03 Consideration of reQuest from Front Porch Associates. Ltd. to amend the Contract for Private Development dated Mav 1. 2002. A. Reference and background: Attached is a letter from Front Poreh requesting the lIRA certify the demo and clearing costs as site improvement reimbursement costs within the Contract for Private Development. Basically, Front Porch is requesting to amend the up to $27,700 of cost of trunk fees to cost of clearing and demo. The TIF expenses must occur within the boundaries of the TIF district. At this time, I have received no evidence of proof of payment J()J' the site improvement costs nor evidence of where costs occurred. Certainly, demo and clearing costs are eligible TIF expenditures by law. I'm not clear as to why the developer requested the trunk fees be assessed, The developer is requesting the amendment as the interest shall commence to accrue on the remaining $40,000 site improvement costs on the date the First National Bank of Elk River advances the funds for this purpose. A couple or things for the BRA to consider: 1. The Contract for Private Development was assigned to the lender, First National Bank of Elk River, through a Assigmnent of Contract for Private Developlnent dated 24th of April, 2002, between the developer. lender. liRA, and City. This document was recorded at the County along with the Contract for Private Developlnent. The '1'1 F pay-as-you-go payments were assigned to the lender, Within the assigmnent it states: No alteration of or amendment to this Agreement shall be effective unless given in \vriting and signed by the party or parties sought to be charged or bound by the alternation or amendment. 2. As evidence for construction financing of the project, the agreement between the developer and Big Lake I _umber, Inc. was provided, Within this agreement it states: Among site improvement costs, Big Lake Lumber, 1ne, agrees to pay the area fees i()f sewer, water, and storm sewer not paid by Front Porch Associates, Ltd. The agreement also refers the "bridge loan" with the lender 3. Lastly, the Contract for Private Development states: At least six town h0l11eS shall be completed on the development property by no later than December 31, 2002. One town home has received a certificate of eOlnpletion. According to the County Assessor four of the town homes will be fully assessed and two for footings and basement as of January 2, 2003, Because the liRA Attorney is on holiday vacation, I've been unable to obtain advise, I'm sure he would suggest at a minimum a written request eome hom the lender. Secondly, I have concern about the agreement between the developer and Rig Lake Lumber. Bas the terms and conditions changed? This agreel11ent and the assignment were the reasons for a special meeting between the IlRA Attorney, the lender, the developer, and Big Lake Lurnber. I have left a message with the developer relative to these concerns. HRA Agenda - J /8/03 . B. Alternative Action: 1. A motion to amend the Contract for Private Development by and among Front Poreh Associates, Ltd, the HRA, and the City changing thc site improvement costs on the developmcnt property from up to $27,700 of cost of the trunk fees to derno and clearil1Q exnenses. Subject to request ii'ol11 First National Bank of Elk River, written acknowledgnlent by Big Lake Lumber, and developer incurs cost tell' amending contract. 2. A motion to deny amending the Contract f()r Private Development by and among Front Porch Associates, Ltd, the HRA, and the City. 3. A motion to table any action. C. Recommendation: Demo and clearing costs are eligible TIF expenditures if costs occurred within the TIF District and proof of evidence for payment is provided. The total amount of demo and clearing costs submitted, not evidence of payment, assumes costs arc within the TIF District boundaries, is $16,248.75 less than the $27,700. . D. SunportiO!! Data: Request letter fi'om developer, excerpts fi'0111 the Contraet for Private Devc1opment, Assignment, and Agreement, copy of T1F District boundaries, . 2 . Front Porch Associates, Ltd. - Michael Cyr PO Box 1338 - 601 Minnesota Street Monticello, Minnesota 55362 Phone: 763.295.0717 Fax: 763.295.3227 12 December 2002 Ollie Koropchak City of Monticello 505 Walnut Street South Monticello, Minnesota, 55362 , Project: Vine Place Townhomes Minnesota Street and 6th Street West Ollie, I am requesting that the HRA certifies the expenses noted on the attached spreadsheet as qualifying for the TI.F. assistance. I also request that you "start the clock" on the interest paid by the TI.F. district for these items on the date that they were paid. The terms of the original agreement stated that some of the TI.F. funding would be used for assisting in payment of trunk fee assessments. I am asking that the costs incurred for clearing land and demolition are allowed in place of the trunk fees, Trunk fees are being assessed as we close on each property and are being paid out of proceeds of each closing. . The need for the balance of the TI.F. funding available remains. We have already expended the funds and need the cash flow for continuing development of the project. Please certify these expenses so that I can draw the balance of the "bridge loan" that is available: Sincerely, /!M~~ ~ Michael Cyr .. . . . . VINE PLACE TOWNHOME PROJECT - TIF Front Porch and MLc Costs Incurred updated 12/4/02 DATE 4/24/2002 4/26/2002 5/20/2002 5/28/2002 7/1/2002 7/15/2002 7/31/2002 7/31/2002 9/24/2002 DESCRIPTION AMOUNT PAID BY I TOTAL INTEREST PAYMENTS FOR TIF MONEY DATE 105,000.00 74,752.50 76.00 11,248.50 99.25 1,800.00 225.00 2,800.00 23,998.75 FNB loan FNB loan FP FP FP FP FP FP Bll 220,000.00 DESCRIPTION AMOUNT I PAID BY I 8/8/2002 First National Bank of Elk River - interest on bridge loan 3,920.49 FP TOTAL 3,920.49 . Annual Installments: Method: Interest: Interest Due From: First Installment Due: Purpose: Financing Source/Fund: ~otal Project: Iotals to be Assessed Total Pathway Total Park Total Sanitary Sewer Total Storm Sewer Total Water Main Total Amount to be Assessed: . CITY OF MONTICELLO 2002 ASSESSMENT ROLL VINE PLACE -TRUNK CHARGES/PARK FEES 2002-05P record 1 record 2 record 3 record 4 record 5 10 years Equal principal, declining interest 6.50% May 8, 2002 1...237 additional daY!tl January 1, 2003 Park and pathway fees and trunk charges for Vine Place Townhomes per dev. Agreement Fund 229 - Park dedication/pathway Fund 262 - Sanitary sewer access Fund 263 - Storm sewer access Fund 265 - Water access $56,371.20 $5,720.00 $10,855.00 $9'563.32J $22,698.00 ~7,534.80 10.15% 19.26% 16.96% 40.26% 13.37% ?v ~ ~. ~ \~ . \ ~ fdt> $56,371.12 t. S~O.t.,L y \ &' - '?Il_ sc; l~ llt ~ . fC "J 'Tj ::::>~ 0_. ,..., , ' -;::0 0(1) nr-+ 2:. - 2. ~ ;::l 'f flO ~ ~ ~ ~! ~ f1 i ~' Iv c:J o ~. o:=: ~, 1---\ ~ r.., I -t ....... n.. 0", np,l ~ ~ ~ (,< 10 =- cj ~ C/, ~" " " J , ~, ? '"" ;::;. S g ;;:0 n.. r/q ill Iv 0 0,..., 00 tJ <' b~ hJ Cl n[ ...... ...... ...... ---tI ARTICLE III . Ac_ql~.isition()r!}ropcrty; Fill.a.,!cial A~~i~Jan_cc Section 3.1. Acquisitign and_~'gnvcyanc~ of theDevclopln~nt Proper!y. As of the date of this Agreement. the [kvcloper has entered into one or more purchase agreernents lcx the Developlllent Property. Neither the City nor the Authority shall have any obligation to acquire any part 0 I' the Deve I opment Property. . Section 3.2. S::'g}1ditiOl!~of Acq~lj,~itlon an~i Convt;yance; Purc_bl~se Price. The City shall convey title to and possession of the City Property to Big Lake Lumber pursuant to a purchase agreement in substantially in the Corm of the purchase agreement attached as Exhibit D to this Agreement (the "Purchase AgreelllenC). The closing on conveyance of the City Property from the City to Big Lake Lumber shall be on such c1ate as Big Lake Lumber and the City shall agree in writing. . Section 3.3. Soil Conditions. The Developer acknowledges that neither the Authority nor the City makes any representations or warranties as to the condition of the soils on the City Property or any other part of the Development Property or the Adjacent Property or their fitness for construction of the Minimum Improvements or any other purpose for which the Developer may make use of such property. The Developer further agrees that it will indemnify. defenGl, and hold harmless the Authority, the City, and their governing body members, officers, agents, servants, and employees. from any claims or actions arising out of the presence. if any, of hazarclous wastes or pollutants on the City Property or any other part of the Development Property or the Adjacent Property. The Developer's obligations under this Section 3.3 shall survive termination of this Agreement. Section 3.4. Payment of Administrative Costs. 'rlle Developer agrees that it will pay upon demand by the Authority, Administrative Costs (as hereafter defined). For the purposes of this Agreement the tenll "Administrative Costs" means out-of-pocket costs incurred by the Authority and attributable to or incurred in connection with the negotiation and preparation of this Agreelllent and other documents and agreements in connection with the clevelopment contemplated hereunder. Out-of-pocket Administrative Costs sha[1 be evidenced by invoices, statements, or other reasonahle yvritten evidence of the costs incurred by the Authority. As of the date of this Agreement, the Developer has deposited $5,000 with the Authority to he applied toward AdministrativeCosts. The amount hy which this deposit exceeds the Authority's actual Adlllinistrative Costs, if any, shall, upon demand by the Developer, be returned to the Develope!"' but no earlier than the date on which the Developer receives a Certi llcate of Completion pursuant to Section 4.4 of this Agreement. Sl'ctiun 3.5. LandA~~LLlis~~(()n. The Lkvclclper shall acquire tht! Lkvelopment Property and the Adjacent Property fro III Big Lakc Lumber pursuant tu an agreement in suhstantially the !(JrIl1 set forth at lixhibit E. [n order tu make development uf the Minimum Improvements economiGlily rcasiblc. the Authority will reimburse the Ikvelopcr. in the manner and amounts set /(,lrth herein. ICll' up to $220,()()() of the Land Acquisition and Site [Inprovement Costs, hereby dellned as: (i) up tu $75.000 uC the Developer's cost of acquiring the City Property from Big . 1)/ ( ;. ~ II) I .i ~ \ .' [VI N 1')1).'17 7 ,r . . Lakc Lumbcr: (ii) up to $105,000 ur the Devt'luper's cost or acquiring the remainder ur the Develuplllcnt Pruperty: (iii) up to $27,700 01' the cost or trunk rees paid by the Developer and associated \vith pruviding sanitary sewer. storm scvver, and \vater scrviecs to tht' Dcvclupment Property: and (iv) up to $12,300 of the eost of curb and gutter improvements paid by the Developer and designed to Serve the Development Property. Any costs in eXCeSs of these rcspective amoLlnts shall be the responsibility ot' the Developer. Neither the Authority nm the City shall have any obligation to the Developer or tu any third party vvith respect to any defects in the construction or the Minimum Improvements. Section 3.6. Fil]-,:H1cin.~ c~f LandAcquisition al}_d Site Improy_ement ('<~.~~. The Authority will reimburse the Developcr for the Land Acquisition and Site Improvement Costs in accordance with the following terms and conditions: (a) Subject to the terms and conditions of this Agrecment. the Land Acquisition and Si te I mprovemcnt Costs will be paid togcther with interest on the unpaid balance thereofat the rate of 7.250;() per annum. Interest shall commence to accrue on $180,000 of the Land Acquisition and Site Improvcment Costs as of April 24, 2002 (the date on which the Developer became obligated on a loan for this amount from the Pirst National Bank of Elk River for purposes of acquiring the Development Property and the Acljacent Property) andllilterest shall commence to accrue on the remaining $40,000 of the Land Acquisition and Site Improvement Costs on the date the Pirst National Bank of Elk River advances funds for this purpose to the Develop~,The Land Acquisition and Site Irnprovemcnt Costs will be paid by the Authority to the Developtr in semi- annual installments payable on eaeh February I and August I ("Payment Dates") commencing August I, 2004 and concluding no later than the Termination Date. These payments vvill be made from Available Tax Increment as defined in this Section 3.6 and rrom no other source. (b) The term "A vailable Tax Increment" means eighty percent (8011'0) of the Tax I nCrell1ent as caleulated by the County and paid to the Authority during the six months preceding any Payment Date. (c) The Authori ty makes no vvarranties or representations that Available Tax Increment will be sufficient to pay all or any portion of the Land Acquisition and Site Improvement Costs. '1'he Developer agrees and understands that Available Tax Increment is subject to calculation by the County and change in State law, that on any Payment Date there may not be surricient Available Tax Increment to pay all or any portion of the amount that would otherwise be paid to the Developer on that Payment Date, and that all or a portion of Land Acquisition and Site Irnprovement ('osts may remain unpaid after the Termination Date. The Developer further agrees and understands that estimates of Available Tax I ncrement provided by the Authority and its agents, of ricers, or employees are estimates only and not intended for the [)eveloper's reliance. (d) Thc /\uthority shall have no obligation to pay any portion or the Land Acquisition and Site Improvcment Costs that remains unpaid alter the Termination Date. The Authority may prepay all or pmt o!'tl1L' Land Acquisition and Site Improvement Costs at any time. (e) The Authority shall not be ohligated to 111ake any payment under this Section iL I J.I( ,-,2111152\ 5 MNI'JII,'!7 8 . . . (i) there is an Event ul' Dcl~\lllt un the Lkveloper's part under this Agreement that has not been cured: or (ii) the Lkveluper has t~lileel to cumply with the payment procedures described herein. (1) At least 30 days before becoming entitled to receive its initial payment hereunder (all such payments tu be made at the times and in accordance with the terms or this Agreement). the Develuper must submit to the Authmity a payment request certiticate signed by its duly authorized representative stating: (i) that the Developer has paid Land Acquisition and Site Improvement Custs in at least the amoullt of $220,000 It)!" the purposes and in the amounts described in Section 3.5; (ii) that no Event 0[' Debult has occurrcd and is continuing under this Agreemcnt: and (iii) that the Developer has received a Certificate of Cotnpletion Cor at least) 2 Townhouses on the Development Property pursuant to Section 4.4 of this Agreement. [fhe payrnent re.q~r~st certit~~at.e m. ust be a.cco,mpanied by ev~dence satisfact~)ry to the City tQ.a.L,thc Land AcqUISition and Site Improvement Costs have becn ll1currcd and palel by the Develope~ Section 3.7. Bu~jDess SUQ.sidy f\~reement. The Busincss Subsidy Act does not apply to this Agreement because the assistance bcing provided hercunder is to promote housing opportunities within the City. Scction 3.8. Use of Tax Incrcment. Except as set forth herein, the Authority shall have no .'.,_......-.------- obligation to the Developer with regard to its use of Tax I ncrement and may use Tax Increment for any lavvtltl purposes. whether set forth herein or otherw'ise. ., ~. I ll( i-.J. 11I1"2\:i ~IN I')II-'n 9 . Constructiun Plans, the ^uthority shall appro\/C the proposed change and notify the Developer in writing of its approval. Such change in the ('onstrllctiun Plans shall. in any even\. be deemed approved by the ^uthority unless rejected, in whule or in part, by written nutice by the ^uthority to the Developer, setting rorth in ell,tail the reasuns therefor. Such rejection shall be made vvithin ten ( I 0) days alter rccci pt of the noticc 0 ,. such change. The Authority' s approval of any such change in the Cunstruction Plans will not he unreasonably withheld. Sectioll 4.3. ~:()nlmCl!Ceme!1t an9 COn}pldi(!.!lJ.!J~ Constr~lctioFl. Subject to Unavoidable Delays, the Developer shall commence construction of the M inimunl I mprovements by no later than ---'f!:\(\. - \_.._",2002. Subject to Unavoidable Delays. the Developer shall complete the construcFton 0 f the Minimum Improvements in accordance with the t()lIowi ng schedule: * (a) ^t least six To\vnhouses shall be completed on the Developmcnt Property by no later than Dccember 31,2002: (b) At least six additional T'ownhouses (tew a total of twelve Townhouses) shall be completed on the Development Property by no later than. December 31,2003; (c) At least six additional Townhouses (for a total of eighteen Tovvnhouses) shall be completed on the Developmcnt Property by no later than December 31. 2004; , ~. (d) At least eight additional Townhouses shall be completed on the Adjacent Property by no later than December 31.2007. . All work with respect to the Minimum Improvements to be constructed or provided by thc Developer on the Development Property and the Adjaccnt Property shall be in conformity with the Construction Plans as submitted by the Developer and approved by the Authority. The Developer agrces for itself: its successors and assigns, and every successor in interest to the Devclopment Property, or the Adjacent Property, or any part thereoC that the Developer, and such successors and assigns, shall promptly begin and diligently prosecute to completion the construction of the Minimull1 Improvements, and that such construction shall in any evcnt be commenced and complded within the period specified in this Section 4.3 of this Agreement. The obligation to construct the Minimum Irnprovements in accordance with this Section touches and concerns the land, and shall run with the Dewlopment Property and the Adjacent Property and be bi nding upon all successors and assigns to the Development Property and the Adjacent Property. After the date of this ^grcement and until construction of the Minimum Itnprovements has been completed, the Developer shall make reports, in such detail and at such times as may reasonably be requested by the Authority, as to thc actual progress of the Developer with rcspcct to such construction. . Section 4.4. ('ertUi~atc ~lr (\lll}nlctjoll. (a) Promptly after completion of the Minimum Improvements in accordancc with those provisions of the Agreement relating solely to the obligations or the l)ewloper to construct the MininlU1l1 Improvements (including the dates lilr beginning and completion thereof), the ^uthority will rurnish the Developer with a Certilicalc shown as I:xhibit B. Such certi ticalion and such detcrminalion shall not constitute evidence of 1).1( i.2 I III"!\ " MN I ()I)-'i7 II . ASSIGNMENT OF CONTRACT FOR PRIVATE DEVELOPMENT , ,It) C "I This Assignment of Contract for Private Development is made and entered into as ofthe4 day of April, 2002, by and among FRONT PORCH ASSOCIATES, LTD., a Minnesota corporation (the "Developer"), FIRST NATIONAL BANK OF ELK RIVER, a United States banking corporation (the "Lender"), THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR CITY OF MONTICELLO, MTNNESOT A, a public body corporate and politic under the laws of Minnesota (the "Authority"), and CITY OF MONTICELLO, a Minnesota municipal corporation (the "City"). RECITALS A, The Developer has entered into that certain Contract for Private 0 velopment wfh the Authority and the City (collectively, the "Public Entities"), dated on or about ' / /' ( '23 r' , 2002 (the "Contract") providing for the improvement of the real property described therein (the "Project"). B. The Developer has requested that the Lender extend to it a loan in the amount of S220,000.00 (the "Loan"), evidenced by a promissory note oflike amount and of even date herewith, executed and delivered by the Developer to the Lender (the "Note"). The purpose of the LQan is to enable the Developer to perform its obligations with respect to the Contract and the Project. . C. To secure repayment of the Loan and Note, the Developer has agreed to make a collateral assignment to Lender of all of the Developer's right, title and interest in and to the Contract, including \vithout limitation all rights to reimbursements from the City using tax increment as provided in Section 3.8 of the Contract (the "Reimbursements"). AGREEMENT NOW, THEREFORE, in consideration of the foregoing recitals, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties, the parties agree as follows: 1. Assh!Oment of Contract, Reimbursements. As security for performance by the Developer of the Loan and the Note, the Developer does hereby bargain, sell, assign and set over unto the Lender, for so long as any indebtedness under the Note remains outstanding, all of the Developer's right, title and interest in and to the Contract, including, without limitation, all Reimbursements when the same shall be payable by the Authority. This assignment constitutes a perfected, absolute and present assignment. Until the Note is repaid in full, the Developer cannot and shall not further assign or encumber the Contract, and any such purported assignment or encumbrance shall be null and void. nuE I k Ri ver .FrulIlsl03 2 52"L'g . . . . f< States mail, first class, postage prepaid, addressed to the party to whom the notice is to be given at the address shown below: Authority: Housing and Redevelopment Authority for Monticello Attn. Executive Director 505 Walnut Avenue, Suite 1 Monticello, MN 55362 City: City of Monticello Attn. Administrator 505 Walnut Avenue, Suite 1 Monticello, MN 55362 Lender: First National Bank of Elk River Attn. Greg Hohlen 729 Main Street Elk River, MN 55330 Developer: Front Porch Associates, Ltd. Attn. Michael Cyr 722 West 5m Street Monticello, MN 55362 , ~ Any party may change its address for notices under this Assignment by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. h. Amendments. This Assignment constitutes the entire understanding and agreement of the parties as to the matters set forth in this Assignment. No alteration of or amendment to this Assignment shall be etTective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. I. Successors and Assigns. This Assignment shall bind the Developer, the Lender and the Public Entities and the successors and assigns of each. [Signature page follows.] 13,,101 kRi Yer-F ",nl_ IOJ 2 52-asg 4 . . . IN WITNESS WHEREOF, the parties have executed this Assignment as of the day and year tirst above written. DEVELOPER: FRONT PORCH ASSOCIATES, L TO., a Minnesota corporation By II"-(ct; ~ (ltr Michael L. Cyr lJ<lEI kRi vcr.F "'<Ie, IOJ 252-'L'g LENDER: FIRST NA TI~~L 'BANK QJ. K RIVER, a U nited St~tesr~nki~~ 0 i/ a~~___ B t.i"~ ~ y,,' . - efregOryjJ. ohlen Its Assi~tant Vice President H1b(i:ib 5 . . . ACKNOWLEDGMENT. CONSENT AND AGREEMENT OF PUBLIC ENTITIES The Housing and Redevelopment Authority in and tor City of Monticello, Minnesota, a public body corporate and politic under the laws of Minnesota (the "Authority"), and City of Monticello, a Minnesota municipal corporation (the "City"), hereby acknowledge the above Assignment of Contract tor Private Development, consent to such assignment to the Lender, and agree to be bound by the above Assignment and to comply with the Lender's instructions with respect to the payments of the Reimbursements under the Contract. In particular, and without limiting the generality of the foregoing, the Authority and the City (the "Public Entities") acknowledge and agree that the assignment effected by the above is approved by the Public Entities and is made in full compliance with the provisions of the Contract and the promissory note, if any, related thereto. The Public Entities hereby represent to the Lender that, best of their knowledge: (i) the Contract is a valid and enforceable agreement; (ii) there have been no prior amendments or assignments of the Contract of which either of the Public Entities has notice or is aware; (iii) no Event of Default has occurred for which a notice has been given to the Oeveloper; and (iv) to the best of the Public Entities' knowledge, all covenants, conditions and agreements have been performed as required therein except those not due to be performed until after the date hereof. IN WITNESS WHEREOF, the Public Entities have caused this Assignment to.,be duly executed, etTective as of the date first set forth above. ~ AUTHORITY: CITY: THE HOUSING AND REOEVELOPMENT AUTHORlTY IN AND FOR CITY OF MONTICELLO, MINNESOTA, a public body corporate and politic under the laws of Minne~Q._~ By .JLId~'--- --- CITY OF MONTICELLO, a Minnesota municipal corporation B~-V B~-zaTu1~~ Its Chair By~;~-)\;JQ-u_ \/ (\ C\ \:;~'\ if\\ (\) \. ) c1..-F~~ \ ' \ \... "-. Its Executive Director Its Administrator Brie I k Ri vcr..f I"Onl:-> lOJ 2 52-;1.....~ 6 ~l{i(i:Jti .18 April 2002 Front Porch Associates, Ltd. - Michael Cyr 722 West 5th Street Monticello, Minnesota 55362 Phone: 763.295.0717 Fax: 763.295.3227 Ron Klindworth Big Lake Lumber 791 Rose Drive Big Lake, Minnesota, 55309 Big Lake Lumber, Inc., Ron Klindworth, 7~1 Rose Drive, Big Lake, Minnesota, 55309, and Front Porch Associates, Ltd., Michael Cyr, 722 West 5th Street, Monticello, 'Minnesota, 55362, agree to cooperate on a development project known as Vine Place Townhomes, on property described on a plat of the same name, prepared by Bogart-Pederson & Associates, in Monticello, Minnesota, 55362. Big Lake Lumber, Inc. agrees to purchase all or part of the following described properties. From Ron Ruff - Lots 9 and 10 , Block S, Lots 1, 2, 3 and parts of Lots 4 and 5, Block S, Lots 1, 2, 3, 4, and 5, Block R, all in the original City of Monticello plat of record. From Doreen and Ellsworth Grubbs - a portion of the cost of Lot 8, Block S, original City of Monticello plat of record. From Ruff Auto/Randy Ruff - any interest that they may have in a portion of the vacated \tine Street LO.W. Big Lake Lumber, Inc. also agrees to pay for site improvements on the platted Vine Place .ownhome property. The improvements will include the following: The costs of surveying, engineering, and platting the property. The costs of installing sanitary sewer, city water, and storm sewer. The costs of installing curb and gutter along the streets and alleys. The costs of paving the streets and alleys. The costs of curb cuts, apron construction and street patching. The area fees for sewer, water and storm sewer not paid for by Front Porch Associates, Ltd. Big Lake Lumber, Inc. will be reimbursed for their investment as follows: The total of the investment by Big Lake Lumber, Inc. will be calculated. As each twinhome consisting of two dwelling units is started, Front Porch Associates, Ltd. will pay Big Lake Lumber, Inc. 2/26ths of its total investment. Big Lake Lumber, Inc. will then convey title in the form of a warranty deed for each property. Upon the conveyance of title to the last lot in Block 1, Big Lake Lumber, Inc. will convey title by warranty deed for Lot 19, Block 1, for $1.00, to the Vine Place Townhome Association, to be held in common for the residents of the Vine Place Townhome development. Likewise, upon the conveyance of title to the last lot in Block 2, Big Lake Lumber, Inc. will convey title by warranty deed for Lot 9, Block 2, for $1.00, to the Vine Place Townhome Association, to be held in common for the residents of the Vine Place Townhome development. Front Porch Associates, Ltd. agrees to purchase all of the Vine Street r.o.w. south of 6th Street, all . the old th Street r.o.w. west of Minnesota Street, and that part of the Minnesota Street r.o.W. at is adjacent to the plat and is not part of the 10Q' portion of the Minnesota Street LOW. that is 1 of 4 currently in use and maintained by the City of Monticello. Front Porch wi.ll also purchase the balance of the Doreen and Ellsworth Grubbs property. Front Porch will purchase these properties with proceeds of the T./. F. "bridge" loan from First National Bank of Elk River. This loan is . secured by the T./.F. agreement between the Monticello HRA and Front Porch Associates, Ltd. Front Porch Associates, Ltd. also agrees to pay for the area charges associated with Block 1 of the plat in the amount of approximately $28,000.00, plus a portion of the site improvements, with the proceeds of the T./.F. "bridge" loan. The amount paid for these items will be no more than $40,000.00, per the developer's agreement between Front Porch Associates, Ltd. and the City of Monticello. Front Porch Associates, Ltd, also agrees to pay for the following development costs and site improvements with cash flow generated by the project as it becomes available. The improvements will include but not be limited to, the following: The cost of developing building plans. The cost of attorney's fees for development related expenses. The costs associated with the HRA development agreement. The costs associated with the City of Monticello development agreement. The cost of constructing privacy fence and plantings along the westerly border of the platted development. The cost of landscaping improvements to the perimeter of the housing units. The cost of landscaping improvements in common areas.;~ The cost of irrigation for the housing units. The cost of irrigation in common areas. The cost of removing trees, structures and other materials from the site. . Front Porch Associates, Ltd., Michael Cyr, is also responsible for the timely and efficient management of the construction of site improvements, construction of dwelling units, and sale of same. Front Porch Associates, Ltd. will be reimbursed for their investment as follows: The total of the investment by Front Porch Associates, Ltd. will be calculated. 1I26th of the total of the above investment will be deducted from the "gross profit" of each sale before distribution of the Big Lake Lumber portion of the gross profit. 1< Front Porch Associates, Ltd. is solely responsible for repayment of the T.J.F. "bridge" loan. Front Porch Associates, Ltd. is the sole beneficiary of the T./.F. proceeds generated by the district. In consideration for the participation of and to secure the investment of Big Lake Lumber, Inc., title for all of the property within the Vine Place development will be held by Big Lake Lumber, Inc. In further consideration for the participation Big Lake Lumber, Inc., Front Porch Associates, Ltd. agrees to purchase the following materials from Big Lake Lumber, Inc. for the construction of the townhomes in the development: All of the framing materials, including floor, wall and roof systems, roofing materials, windows, entry doors, drywall, interior doors and interior trim material. In further consideration for the participation of Big Lake Lumber, Inc. 30% of estimated gross profits will be paid to Big Lake Lumber upon the closing with the end buyer of each dwelling unit. . Estimated gross profit will be calculated by using the estimated costs shown on the costing spreadsheet labeled NewProFormaD-2 dated 3/28/02. 20f4 .. If Front Porch Associates, Ltd., or Michael Cyr, its owner, becomes unable to perform its responsibilities under the conditions of this agreement, for whatever reason, Big Lake Lumber, Inc. has the right and the authority to take over those responsibilities. Likewise, if Big Lake Lumber, Inc., becomes unable to perform its responsibilities under the conditions of this agreement, for whatever reason, Front Porch Associates, Ltd. has the right and authority to take over these responsibilities. Signed this ;:).I.F;d,. day of April, 2002. /LJ rf- rcLk4 (?~ Ron Klindworth, Big Lake Lumber, Inc. iN'dIllf ~ Michael Cyr, Front Por Associates, Ltd. In witness before me this ,,::::?L~ .~fa~~ ! day of April, 2002. go(jG 'lE 'u'r'dx3 'wwo:> ~W8 VIOS3NNIW. ~l1llnd AI:lVlON H:JNA 1 NNV 3/801 . 4of4 . ':7,-'":).\".> --- ,I -----/. r-- wrSr I/~ CORNeR SiC II, 'wP. /21, RNG, 25 1yH/(;'1(r (:0. ?: 8 0 ~ ~ ~~ 10 ! ~ Cj i / ;;: <0 I 7'2' ORAINA\,E...& UTllITv EASEMENt ~ ~ - N 89'00'4/" E I -""". 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I I ~ l.1", "iJi' I " S "9:bJ';," IV "I G . ~J~8/ :1 ~ ::.j '. ~ g N B9.0J'~j" l.. \ ~1<ri'( /7 14.00 '" N.DO [g ~;~ .{ I~ ~I ~ 1,11 .~ ",it{ ,I ~g " g~ :lj" S 88'S7,'.14" IV 71:00 ~ ~ B N $9.0,J'55" (" 14.00 /. '2 '... ~ ~".9 I ..:Jl " " N 89"OJ'.55!.c " 71,00 J '" ~ ~ / 12 ....;:;.,~ 'fJ9.(JOI4/~ E '" ~ ~ B g "~ ~ ~ f'l '" b? ' ~\(i./4I1l~(' ,.slJl}:sr~f,"~ 14.00 ,I / "Pf.1-AiNAGif"& /I~~~~iEASFMENT ~~~ I .' J,{J ;10 $l, ~ 8 ~,;,., ill g -,~ '" , 82 ;' / "'I.. ", 1" i6 1/2,./?TREE'T J'> .' J! 1'.1" \ I ,I !.~ C> " 8 .ft. ..... '" . 7-, '" ~ ) ~ l'> / l'> ~ / ~ J,jOO J6.QO 8 <"I ~ ~ V 10.80 I N 89'00'2 '" ." .~ ',"'r'. . ct. .'. ~.' .-,!'~ '.,. ; ',,. . - ."" l":"if" .. .' ,0, ..."'..""'.......,'_ t:t.., . ~I\t -:'13 .-~ "'.. ., ".".' i "'..," , <l'l , 'I' " ,/", t".-J ~\ . rtlA ' "~4 ~ . tJ,;i 1r: "41 ~ 1!9. .~ , , W',I/" t'~..1 .I... .:1." .'. l.,r ~',~:", !'.,..' ~"'i "~,;..... ~ . -. ';,. " ~ "'''''1 (" ""r;) ,-.'I'v'-!":" ....-~ " ~\ t /'\..... " ~'. "1\ \ " ~ r".""'" ~,.4'''' ',. i"'" ~ ,,' 1,. ",<" ,..."-.::,,J; .:' '-','.>It; -,,',,' A~,..<l.<<.'.""--"< '. ~ ~ 'I, '~ '~:~ '\ \ 'i' \ \ ',.\ . ,~ - ;: . ~ ~ ~ , ~ ."..;_..~j . . . . H RA Agenda - 1/8/03 6. Continued - Consideration to hear an update on the progress for redevclonment of a portion of Block 52. a) Consideration of an undate of the Pre-Design Concept meetine: between Johnson Team and City Staff/Consultants. Fred Katter, Pineapple Management Company; JeiTRapp, Wilkus Architects; City Consultant Planner Steve Grittman; City Engineer Consultant Bret Weiss; .Jeff O'Neill; John Simola; Fred Patch and Koropehak met on January 2, 2003, to discuss pre-design concepts for Phase I and II of Steve Johnson's proposed project. The HRA received an executed Preliminary Development Agreement and a $5,000 deposit from Steve Johnson t()f Phase I and lIon December 16,2002. 1/3/03 - The Johnson Team will hegin by ohtaining a survey and soil testings of the site. The preliminary design concept will include Phase I and II and public parking area. Plans are to commence construction of Phase I hetween March and June of2003. Phase II depends upon leasing of Phase 1. Preliminary Design concept ready in about a month. HH.A Agenda - 1/8/03 . h) Consideration to discuss terms and conditions of the Contract for Privatc Redcvelonment hetween the HRA and SCJ Devclonment Group. LLC. Suggested terms for the Contract: Phase I Up-fi-ont TIF Assistance to developer lor Phase I = $306,100 NPV of eligible TIF expenditures, this assumes an Assessment Agreement with Estimated Market Value of $2,586,100 (land/building) as of January J, 2004. Project description: 32,000 sq t1 useable space-three story otlice building with underground parking. Bond payment begins August 1,2005 and ends no later than February I, 2022. Commence construction June 30, 2003. Completion date ______. Eligible TIF expenditures proofof evidence for payment by no later than June 30, 2004. I would prefer the eligible TIF expenditures to include the following J(Jr consistency with other projects. On the redevelopmcnt of the Cub site, eligible costs did not include acquisition of the existing lllall building orland as the developer owned the property. . f-IR.A Lot acquisition Demolition Parking Facilities Sitc Improvements (Sidcwalk, paving, curb/gutter, landscaping) ^rchitecture/Engineering $ 4,000 Contingency $ 7,900 'rOTAL $ 306,100 NPV $ 60,000 (cst.) $ 27,700 $ 180,000 $ 26,500 Based on thc TIF Cashl10ws prepared by Ehlers, the NPV of tax increment gencratcd over the remaining lifc of the district for Phase I is $420,000. In other words, there is room for some flexibility or the extra tax incremcnt can be used by the HRA for public improvements (parking development) or can be applied to Phase II for acquisition of J-Icaton parcel. Phase Il I low is the HRA assured of Phase II construction? Ehlers suggest a penalty if Phase II docs not commence and the HRA has sold the lot and invested in the parking lot. Is Mr. l-Icaton a wi Iling participant? Lip-front TIF Assistance to developer for Phase II =, $140,000 plus $113,900 (rcmaining . 2 HIlA Agenda - 1/8/03 . tax increment hom Phase I) = $253,900 NPV for eligible TIF expenditures, this assumes an Assessment Agreement with Estimated Market Value of $1,667, I 00 (land/building) as of January 1,2005. Project description: 22, I 00 sq ft of use able space-three story oHice building with underground parking on existing lleaton/Johnson parcels. Bond payment begins August], 2006 and ends no later than February J, 2022. Commenee construction June 30, 2005. Completion date ______. Eligible TIF expenditures proof of evidence for paymcnt by no later than Junc 30, 2004. Heaton parcel acquisition/demolition $253,900 Does the HRA agree with the financing concept for the Johnson project? Does the HRA agne with a penalty approach if Phase IJ does not OCClll'? lIRA Puhlic Parking . If the I-IRA has commitments from Johnson for Phase} and II and Pat Sawatzkc and Grittnwn has provided the parking calculations for Block 51 and 52, the HR^/City need to move flxward with a plan for public parking improvcmcnts which comply with the Downtown and Riverfront Revitalization Plan. With the Comp Plan (Revitalization Plan) Walnut Street is proposed to open at River Strcet which would requirc a Comp Plan amendment if it remains closed. The walkway from parking lot to Broadway was discussed at the Preliminary Design meeting and all agrced with the design of rcar cntrances this bccomes less of a factor. As stated before the Johnson Team will includc a design fi:lr public parking area. The available HRA dollars from the bond sale for expenditure by July 31, 2004 is $1,286,000. . " .J December 4,2002* lIRA agreed and authorized execution of Preliminary Agreement for Phase I and II contingent upon receipt of $5,000 deposit. Phase I - 32,000 sq it of useable space - three story office building with underground parking. Estimated Market Value of Land and Building $2.586,100, January 2, 2004. Phase II - 22,100 sq it of useable spacc - three story officc bui lding with underground parking. Estimated Market VaJuc of Land and building $ J ,667,1 00. Dccember 16, 2002 Execution of Prelirninary Development Agreement and $5.000 deposit. Approval by HRA on level ofup-hont TII< assistance to Developer- $306,1 00 NPV (eligible cost). Commence Construction March 31,2003. Bond payment begins August 1,2005 and ends no later than February 1, 2022. Negotiatc Contract for Private Rcdevelopment and Assessment Agreement by the liRA and Developer. Devcloper provides legal description or all parcels in Phase rand 11. Authorize appraisal of HRA Lot and Update HRA abstract (Ollie). How to handlc Phase II? Execution of Contract for Privatc Redevelopmcnt and Assessment Agreement. Public Hcaring Notice to Monti Timcs. (Ollie) Public Hearing for deposition of /-I RA lot. Closing of HRA lot - suhject to clevelopcr providing cvidcnce of construction financi ng and building, sitc, parking, and DAT approvals. Issuance of remediation and demo permit. Developer provides proof of cvidcnce of huilder' s insurance. March 31, 2003 Issuance of Building permit. April J. 2003 Reinstate parcels into Distriet at County. (Ollie) Prior to Junc 30, 2004 Developer provides proof of evidence for payment of eligible TIF expenditures. Eligible TIF expenditures paid to the Developer. (Ollic) . January 8,2003* . January 17,2003 January 20, 2002 Fcbruary 5, 2003* Prior to February 14 February 28. 2003 Prior to July 31, 2004 * ERA lnccting Block 52 Mixcd-Use Development - Phase I and II TIF Schcdule Stcvc Johnson, Developer THIS DOES Nell' INCLUDE A SCIIEDULE FOR PLANNING COMMISSION, BUILDING AND SITE, AND DAT APPROVALS. Sitc rcview is held each Wednesday at 1 :00 p.m. All approvals would be necessary by February 14, closing date of the BRA lot. . HRA Agenda - 1/8/03 . c. Consideration to authorize an appraisal oUhe HRA Broadwav lot and call for a [)Ublic hearing for disposition of lands. If the BRA has a comfort level that Phase I and II of the Johnson proposal will move forward, the HRA should authorize an appraisal of the I-IRA Broadway lot and call1()r a public hearing l()r disposition of raw lands. The I-fRA purchased the lot (raw land) li-om Barry Fluth in July, 1996, liJr $50,000. Rod Dragsten, lIeartland Appraisal, does commercial appraisals. The appraisal should be ready lor review by the I-IRA on February 5 or March 5, the proposed date of the publ ic hearing and next I--IRA rneeting. Is the HRA comfortable in selling the pareel if Phase 11 does not materialize? c I. Alternative Action. I. A motion authorizing an appraisal of the I-IRA Broadway lot 1[0111 -------- and calling t()f' a public hearing fix disposition of raw lands on February 5, 2003, or March 5, 2003. 2. ^ rnotion of no interest to obtain an appraisal of the I-I RA Broadway lot. . ., _J. A lnotion to tahle any action. c2. Recommendation: RcconHnendation is to authorize an appraisal and call J()!' the public hearing on either date. The public hearing docs not obligate the HRA to sell. The HRA should not close or convey the property to Johnson until the Contraet for Private Development is executed and developer has provided proof of evidenee for construction linancing. d. Sunporting Data: None. . 4 . . . HRA Agenda - 1/8/03 7. Consideration to hear an undate on the nrogress for redevelopment of a portion of Block 51 (Sawatzl<e). Pat has been contacted to appear at the HRA meeting Ic)r a progrcss report on his proposed projcct. At the last HRA meeting, he inclicatcd his interest to proceccl and was working to put together a financial analysis for the project. I have left a couple of messages with Kjcllberg to kecp him informccl and interestccl. January 2,2003, Pat informs mc his financial analysis will be ready for review at the February HRA mccting. He was ae!visecl to attene! thc January meeting to kcep informed of downtown redcvelopment projects. . . . BRA Agenda - 1/8/03 8. Consideration to hear concept plans for redevelopment of Block 35. Phase n. (Master's Fifth Avenue) A. Reference and hackl!round. On Deeember 17, I met with Barry Fluth and Brad Johnson to discuss the plans fix Phase II of the Amoco site concept plan. They were informed of the July 31,2004, dead-line for TIF assistance within District No. 1-22. You may recall Phase II included the acquisition of three homes for redevclopment of 5-6 carriage~type homes. Brad will be at the HRA meeting to bring the commissioners up to date on plans to proceed. If the developer can purchase the three properties prior to July 31, 2004, this would qualify as eligible T1F expenscs for up-front reimbursement. No TIF cash-flow numbcrs have been run fix Phase II at this time. r would not recommcnd the BRA negotiate the purchase of the properties. Fluth has not been paid the up-front $75,000 TIF assistancc for development of off-site parking associatcd with Phase] as the certificates of completion must be issued fix both thc commercial and carriagc house buildings prior to payment. The acquisition cost of thc Amoco site is pay-as-you-go. Many positive comments have bcen hcard relative to the design of the building; however, many people have raised the question of adequate parking for a restaurant. One question: Will the HRA rcqucst a second Preliminary Agreement and deposit fl.))" Phasc II? Thc first Contract for Privatc Development does not address Phase II. Perhaps a reduced deposit is acceptable. The administration fees li.)r Phase I have not been calculatcd to see if there is a shortage or over-run of the $5,000 deposit. This is done at time of issuance of C of C. If the developer is interested in proceeding with Phase 11 and agrees to entcr into the Preliminary Development Agreement with a deposit, fcmnaI action by the commissioners may be appropriate. [n such case, the recommended motion: To authorize entering into a Preliminary Dcvelopment Agreemcnt between the HRA and Master's Fifth Avenuc, Inc. for Phase II of Block 35 subject to payment of deposit in the amount of _____. . . . HRA Agenda -1/8/O~ 9. Consideration to authorize Ilavment of BRA bills. OK to authorize payments. The charges for recorded documents will be billed back to the developer. . , INVOICE LARRY A UNGER WRIGHT COUNTY RECORDER WRIGHT COUNTY GOVERNMENT CENTER 10 2ND STREET NW RM 210 BUFFALO, MN 55313~1196 763-682~7357 MONTICELLO HOUSING AND REDEVELOPMENT ATTN: OLLIE KOROPCHAK 505 WLANUT ST #1 MONTICELLO, MN 55362-8831 AUTHORITY Invoice #: 1200200000792 Issued Date: NOV 15, 2002 Account #: 1805 STATE SURCHARGE EQUIPMENT FUND GENERAL ABSTRACT Transaction Total ~ ~~ \ - "'). '}- ~~ .50 ~ ~ 4_50 ~t~, ?v\'? ~ 1. 00 ....a ~~~' 14_00 , ~. 20.00 ~~ ....y. Document #:A-816646 Orig. Date: 11/15/2002 Instrument: QUIT CLAIM DEED Services: ELECTRONIC SURCHARGE ~ocument #:A-816647 Orig. Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT I~ , Services: NON STANDARD DOCUMENT 10.00 ELECTRONIC SURCHARGE STATE SURCHARGE .50 4.50 EQUIPMENT FUND GENERAL ABSTRACT Transaction Total 1.00 14.00 30.00 Document #:A-816648 Orig. Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT . ELECTRONIC SURCHARGE STATE SURCHARGE EQUIPMENT FUND GENERAL ABSTRACT 10.00 .50 4.50 Services: NON STANDARD DOCUMENT 1.00 14_00 INVOICE . Page 2 MONTICELLO HOUSING AND REDEVELOPMENT ATTN: OLLIE KOROPCHAK 505 WLANUT ST #1 MONTICELLO, MN 55362~8831 AUTHORlffiM #: 1200200000792 Issued Date: NOV 15, 2002 Account #: 1805' Document #: A-816648 Filed: 11/15/2002 1:45:00 PM Transaction Total ____..__....... 30.00 Document #:A~816649 Orig_ Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT Services: NON STANDARD DOCUMENT 10_00 ELECTRONIC SURCHARGE _50 STATE SURCHARGE 4_50 EQUIPMENT FUND GENERAL ABSTRACT Transaction Total LOa 14.00 30.00 Document #:A-816650 Orig. Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT Services: NON STANDARD DOCUMENT 10.00 . ELECTRONIC SURCHARGE .50 t, STATE SURCHARGE 4.50 EQUIPMENT FUND LOO GENERAL ABSTRACT Transaction Total 14.00 30_00 Document #:A-816651 Orig_ Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT Services: NON STANDARD DOCUMENT 10_00 ELECTRONIC SURCHARGE .50 STATE SURCHARGE 4_50 EQUIPMENT FUND GENERAL ABSTRACT Transaction Total LaO 14_00 30_00 . \ \ INVOICE . Page 3 MONTICELLO HOUSING AND REDEVELOPMENT AUTHORlffi~ #: ATTN: OLLIE KOROPCHAK Issued Date: 505 WLANUT ST #1 Account #: MONTICELLO, MN 55362-8831 1200200000792 NOV 15, 2002 1805 Document #:A-816652 Orig. Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT Services: NON STANDARD DOCUMENT 10_00 ELECTRONIC SURCHARGE .50 STATE SURCHARGE 4_50 EQUIPMENT FUND GENERAL ABSTRACT Transaction Total 1.00 14.00 30.00 Document #:A-816653 Orig. Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT Services: NON STANDARD DOCUMENT 10_00 . ELECTRONIC SURCHARGE STATE SURCHARGE .50 4.50 EQUIPMENT FUND GENERAL ABSTRACT Transaction Total 1.00 14_00 30_00 Document #:A-816654 Orig. Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT Services: NON STANDARD DOCUMENT 10.00 ELECTRONIC SURCHARGE STATE SURCHARGE _50 4_50 EQUIPMENT FUND GENERAL ABSTRACT Transaction Total 1.00 14_00 30.00 Document #:A-816655 Orig. Date: 11/15/2002 Instrument: ASSESSMENT AGREEMENT Services: NON STANDARD DOCUMENT 10_00 . ELECTRONIC SURCHARGE _50 STATE SURCHARGE 4.50 \Y EQUIPMENT FUND 1.00 .i.""':I:_vv . Page 4 MONTICELLO HOUSING AND ATTN: OLLIE KOROPCHAK 505 WLANUT ST ~1 MONTICELLO, MN 55362-8831 INVOICE REDEVELOPMENT AUTHOBlffi~ #: 1200200000792 Issued Date: NOV 15, 2002 Account ~: 1805 Document~: A-816655 Filed: 11/15/2002 Transaction Total ._.._..__.._.__ 1:45:00 PM ^\~ 30 _ 00 ,:rfV'\"''?''','-:;J. Document #:A-816656 Orig. Date: 11/15/2002 Instrument: DEVELOPMENT AGREEMENT ELECTRONIC SURCHARGE _50 ?~ ~ \- ~): c:. ~q. L\V 7 ?,\.". Lt ~C\ 't Services: NON STANDARD DOCUMENT 10_00 STATE SURCHARGE 4_50 EQUIPMENT FUND GENERAL ABSTRACT Transaction Total 1.00 47.00 -.--....-...--..-.. 63_00 Document #:A-816657 Orig_ Date: 11/15/2002 Instrument: DEVELOPMENT AGREEMENT . Services: ELECTRONIC SURCHARGE .50 ~1:~ \r- ~O \ lV' S?O" ').\;. ~ (\ "\ ,;q '"t STATE SURCHARGE EQUIPMENT FUND GENERAL ABSTRACT Transaction Total 4_50 1.00 29_00 --.....-....-......-..... 35_00 388_00 Total Amount Charged this Invoice I" ;:: ("',','.<",\, ' " ,I I ' 'I 1._'-::.:' I, .. ,'.. :_U"__H._\ \ \\ : DEe 16 2002 11\l),:! _\- .\ DUE UPON RECEIPT INCLUDE INVOICE # . , , , , , : " 'I li II I,' t . . Monticello HRA 505 Walnut Avenue, Suite 1 Monticello, MN 55362 December 10, 2002 MC1 00~01 General Professional Services 11/6/02 MTR T J Martin shortfalls 11/13/02 MTR Numbers for T J Martin 11/26/02 MTR Mtg with Ollie Total Due This Month: Status of Account: Current $187.50 30 Days $0.00 ? \ 3 . L..\ ~ S ~ ( . ~t qnqOiCe# 20260 60 Days $0.00 90 Days $0.00 Hours Amount 0.50 0.50 0.50 62.50 62.50 62.50 1.50 $187.50 120+ Days $0.00 Total --$187.50 r= -." r-'" , "'\ \ I' 'i ::;:- ~,~ ; . ',"." ~ i 11:/ i ~ ' , \ i'i DEe 1 1 2002 Iii t.';) L '--"--..-----_.,.1 . -~. ~~,~~..~"..._,. - ~"_1 ,1; ... -"---..~--.......... . PLEASE KEEP WHITE COpy FOR YOUR FILE AND REMIT PINK COPY WITH PA YMENT TO: . EHLERS & ASSOCIATES INC 3060 Centre Pointe Drive Roseville, MN 55113.1105 651.697.8500 . . . Kennedy & Graven, Chartered 200 South Sixth Street Suite 470 Minneapolis, MN 55402 (612) 337-9300 41-1225694 December 18, 2002 Invoice # 54491 S ? h-. L\\.o City of Monticello Accounts Payable 505 Walnut Street, Suite 1 Monticello, MN 55362 ?\':/. MN190-00101 General HRA Matters Through November 30, 2002 For All Legal Services As Follows: 11/26/2002 SJB Phone call with 0 Koropchy re qualifications for Sawatzke block Total Services: Hours 0.30 $ " Total Services and Disbursements: $ ~o~\'O Amount 48.00 48.00 48,00 . 10. H RA A~enda - 1/8103 IDe A~enda - 1/7/03 Executive Directol"sReport: a) Downtown Redevelopment - Been in contact with Jim Graber, James & Gruber, and Keith Kjellberg as other potential redevelopment projects. b) Custom Sheet Metal - If the Home Depot project and Retail I3 development moves forward, the HRA will be asked to create an Economic TIF District to assist the business with land write-down. Relocation caused by proposed development. c) Lake Tool - At the EDA meeting, the commissioners tabled any action relative to a request by the owners to reduce the remaining unpaid principal of the machinery and equipment loan from $45,000 to $18,000. The owners have yet to collect all receivables. The EDA does hold personal guarantees from each of the owners. The EDA questioned the legality of selling financed machinery and equipment. The lender is in lirst position. d) BRE visits are scheduled flJr B & B Metal Stamping, Double Bull Archery, Vector Tool, Suburban Manufacturing, and Aroplax. e) All TIF documents now recorded at County. Upon summarizing the 'rlF Districts and Development Contracts, it was noted the County certified the 2002 local tax rate as 1280;;) for District Nos 1-29 and 1-30 instead of 145%. I've called the County Auditor's Office. UMC - Panels are scheduled I'(H' delivery in late January. TCDC - It is my understanding TCDC lost a contact and lay-olT has occurred at the Monticello I~lcility. Midwest Graphics building - Thcre is a potentiallenant 101' the building. Next Northwest development and interchange comp plan meeting with Xeel and NMC personnel, city staff and consultants scheduled for January 23, 8:30 a.m. Production Stamping - Call from Charlie PfetTer asking me to call Les Wurm relative to plans to construct in spring. Charlie states no deal as Les is unable to sell existing building; however, does not return Charlie's calls. 1 have not authorized Ehlers to certify this TIF District. k) One lead for 20,000 sq ft building. Production of counter-tops. Exist in Rockford. Noted Wright County Partnership Business Ethics. 1) Central MN Housing Project - One home was delivered and set Dee 26 with another scheduled I'(lr December 27. The Contract reads 3 homes completed by December 3 1.2002, and all 11 homes completed by end 01'2003. Home loan closing expected by January 3],2003. In) Steve, it's my assumption you'll accept the appointment as I H{A commissioner 101' another 5-year tCrlll. Council appoints January 13,2003. n) Christmas cards mailed to all industrial businesses. 0) Note the Chamber has selected Thursday, May 15,2003, as their annual Golf . f) g) h) i) j) . . HRA A~enda - 1/8/03 IDe Agenda - 1/7/03 Outing at the Monticello Country Club. If OK with the Chamber, the HRA/IDC Marketing Committee needs to meet to discuss sponsoring a bus tour and gratis golf for developers. . . 2