IDC Agenda 04-20-2000
AGENDA
MONTICELLO INDUSTRIAL DEVELOPMENT COMMITTEE
Thursday, Apri120, 2000 - 7:00 a.m.
City Hall - 505 Walnut Street -Academy Room
MEMBERS: Chair Tom Ollig, Vice Chair Kevin Doty, Shelly Johnson, Don Smith, Tom
Lindquist, Bill Tapper, Dick Van Allen, Bob Mosford, Don Roberts, Mike
Benedetto, Dan Carlson, and Jim Amundson.
COUNCIL LIAISON: Mayor Roger Belsaas.
STAFF: Rick Wolfsteller, Jeff O'Neill, Fred Patch, and Ollie Koropchak.
Call to Order.
2. Consideration to approve the February 17 and March 16, 2000 IDC minutes.
3. Consideration of updates:
a) Mayor Belsaas -Mayor's report
b) Koropchak -Prospect and BRE
c) Smith, Ollig, or Van Allen -Marketing
•
4. Continued -Consideration of an update on the progress to actively pursue acquisition of
land for future industrial use.
a) Grading Study for Chadwick parcel.
b) Draft copy of Swap Agreement between City and Chadwick parcel.
c) Planning Commission Response to IDC suggestion of Feb 17 relative to Gold
Nugget parcel.
d) Update on Groveland and Chelsea Road West Development.
5. Consideration of site tour for IDC May meeting and revisit 2000 calendar.
6. Consideration of plans for Industrial Breakfast by the Chamber scheduled for April 27.
7. Consideration to hear an overview of year-end reports and activity of the HRA and EDA.
8. Other Business.
9. Adjournment. Next IDC meeting, May 18, 2000.
MINUTES
MONTICELLO INDUSTRIAL DEVELOPMENT COMMITTEE
Thursday, February 17, 2000 - 7:00 a.m.
City Hall - 505 Walnut Street -Academy Room
MEMBERS PRESENT: Chair Shelly Johnson, Vice Chair Tom Ollig, Don Smith, Kevin
Doty, Bill Tapper, Bob Mosford, Don Roberts, Mike Benedetto,
Dan Carlson, and Joanne Forbord.
MEMBERS ABSENT: Tom Lindquist and Dick Van Allen.
COUNCIL LIAISON PRESENT: Mayor Roger Belsaas.
STAFF PRESENT: Rick Wolfsteller, Jeff O'Neill, and Ollie Koropchak.
Call to Order.
Chair Johnson called the IDC meeting to order at 7:00 a.m.
2. Welcome and introduction of Joanne Forbord Chamber Chairperson 2000.
• Joanne introduced herself as the new Chamber Chair and stated a member of the Chamber
Government Affairs Committee will attend the IDC meetings. Joanne is employed as the
Human Resource Coordinator for Standard Iron & Wire Works, Inc. IDC members
introduced themselves.
The regular meeting of the Chamber is 11:50 a.m. today and the program is on "Swans"
presented by the DNR. Tapper suggested the Industrial Breakfast be in the Community
Center and use to market the breakfast.
3. Consideration to approve the Januar~20 2000 IDC minutes.
Bill Tapper made a motion to approve the January 20, 2000 IDC minutes. Seconded by
Dan Carlson and with no corrections or additions, the minutes were approved as written.
4. Consideration of Updates:
a) Mayor's Report -Mayor Belsaas reported that a law suit has been filed against the
City, Clint Herbst and himself relative to the zoning of the Gold Nugget parcel.
He believes the city would be short-sighted if the Gold Nugget parcel was not
industrial use with the current inquiries by larger user.
b) Koropchak -Prospect and BRE. See Attachment A.
c) Smith, Ollig, and Van Allen -Smith noted the Marketing Committee is planning a
•
• IDC Minutes -February 17, 2000
Sunny Fresh Recognition Luncheon on March 9 at the Community Center. The
Washington DC award ceremony is scheduled for February 25 at about 1:30 p.m.
Sunny Fresh administration and employees will leave Thursday a.m. for the big day
on Friday.
Continued -Consideration of an update on the progress to actively pursue acquisition of
land for future industrial use.
Administrator Wolfsteller informed members that a meeting was held yesterday with
Chadwick and Bowers and the land swap consists of 120 acres, an additiona120 acres as
option, and a long list of laundry items. The Council has heard the swap option and are
supportive. Chadwick will retain 60 acres for mining and keep the 40 acres for a future
business such as a ready-mix. The 27 acres in the northeasterly corner of the parcel along
the interstate can be served most immediate by gravity flow. The 40 acres may have an
asking price of $100,000 in 10 years.
Members asked about the status of the Gold Nugget parcel and the conflict of land use
between the City Comprehensive Plan and the MOAA. The property could be held in
limbo for 10 years. Perhaps, the Council could agree on an industrial use. Administration
felt, for right now, there's not the interest.
A public hearing relative to the Chelsea Road West improvements will be held in two
weeks.
Bill Tapper suggested as the IDC's purpose is to operate as an independent lobby
organization perhaps they should lobby for interest of the Gold Nugget property as
industrial. O'Neill recommended suggesting to the Planning Commission to study other
options. Bob Mosford made a motion suggesting the Planning Commission take another
look at the area known as the Gold Nugget parcel far industrial land use, in part or in
whole, as part of an over-all plan. Tom Ollig seconded the motion and with no further
discussion on the motion, the motion passed unanimously.
Tapper asked of the timing for development of the infrastructure to access the Goeman
property. Mayor Belsaas responded 2000. O'Neill informed members construction of
Chelsea Road West is expected to start in May 2000 for completion to 90`'` Street.
Mayor Belsaas reported services could be in place in one year if user commits. IDC
members were told to encourage Council to construct improvements and a stub into the
27 acres for purpose of marketing.
6. Tabled -Consideration to elect IDC officers: Chair, Vice Chair. and Secretarv for 2000.
Ollig nominated Kevin Doty as Chair if no objections. Doty objected and said maybe next
i 2
IDC Minutes -February 17, 2000
year. Bill Tapper nominated Tom Ollig as Chair if no objections. Ollig accepted and Bob
Mosford seconded the motion. With no other nominations, the motion passed
unanimously.
Don Smith nominated Kevin Doty as Vice Chair. Seconded by Dan Carlson and with no
other nominations, the motion passed unanimously. Koropchak was re-appointed as
Secretary for 2000.
7. Tabled - Consideration to review the IDC 1999 Action Statement and Organizational and
Membership Guidelines for potential amending.
Bill Tapper made a motion stating no need to revise the Action Statement and Guidelines
of 1999 and affirmed continuation of the 1999 Action Statement for 2000. Don Smith
seconded the motion and with no further discussion, the motion passed unanimously.
8. Consideration to review IDC calender year 2000.
Koropchak presented the 2000 IDC calender noting the Breakfast and Bus Tour dates. It
is anticipated the IDC will tour at least four industries in 2000. No action required.
. 9. Consideration to hear information relating to fiber optic availability to the
Chadwick/Goeman propertv.
In lieu of time, Ollig suggested he bring an updated map to the next IDC meeting outlining
the inner and outer fiber optic rings around the Monticello area including the
Goeman/Chadwick parcel.
10. Other Business.
Koropchak expressed her "thanks" to Shelly Johnson on behalf of the members for
chairing the IDC in 1999.
11. Adjournment.
Kevin Doty made a motion to adjourn. Seconded by Bill Tapper, the IDC meeting
adjourned at 8:15 a.m.
~~~ ~ ~~~J
Recorder
• 3
• PROSPECT AND BRE
FEBRUARY 16, 2000
by Ollie Koropchak, Director of Economic Development
Prospects
Twin City Die Castings -Project moving forward. Request for information relative to Industrial
Revenue Bond closing. Met with Carol Pressley-Olson relative to State Grant requirements and
need for Grant Agreement and Loan Agreement approval by City Council.
Intercomp -Still semi-active prospect.
25,000 sq ft building -Utility company working with Winkelman Construction and Pfeffer.
Decision to go to another community. Working with another client in Monticello.
Minn-Tech Machine Tools -Establishing lender, unsure of building size. Looking for tenant..
100 acre user -Caterpillar not now.
100+ acre user -Monticello on list of three. Not front runner.
C.H. Holt -Need for improvement financing. Visit.
Allied Company -Albertville project almost completed. Would like to start Monticello facility in
2000. Give leads. Met with Mark Houge.
32,000 sq ft building -Industrial service company for wood-finishing. Spring construction.
Rogers area.
Towle Real Estate -Meeting Feb 23, 1:00 p.m.
BRE
Sunny Fresh Recognition -March 9
BRE Breakfast -April 27 -Ideas for program.
Where to visit for IDC meetings?
Workforce Development -Wright County
SBA Office, St Cloud -Lisa Mauer. ¢ ~~ ,
~ ,~ ,~. ~ -
~,~--.~v- ~ ~-~ ~ i
• MINUTES
MONTICELLO INDUSTRIAL DEVELOPMENT COMMITTEE
Thursday, March 16, 2000 - 7:00 a.m.
City Hall - 505 Walnut Street -Academy Room
MEMBERS PRESENT: Chair Tom Ollig, Shelly Johnson, Don Smith, Tom Lindquist, Bill
Tapper, Don Roberts, Mike Benedetto, Dan Carlson, and Jim
Amundson.
MEMBERS ABSENT: Vice Chair Kevin Doty, Dick Van Allen, and Bob Mosford.
COUNCIL LIAISON ABSENT: Mayor Roger Belsaas.
STAFF PRESENT: Ollie Koropchak and Jeff O'Neill (later).
Call to Order.
Chair Ollig called the IDC meeting to order at 7:00 a.m.
2. Consideration to approve the February 17 2000 IDC minutes.
Due to the minutes being unprepared, this item was tabled to the April meeting.
• 3. Consideration of updates:
a) Mayor's Report: None.
b) Prospect and BRE -See Attachment A.
c) Marketing - Ollig and Smith thanked and commended those who coordinated the
Sunny Fresh recognition and its professionalism. Smith noted the event was
hosted by the IDC and the HRA (Marketing Committee). IDC members agreed
that the success of Sunny Fresh was a real positive for the community. Roberts
noted: Although he was not present, Sunny Fresh was pleased to be recognized by
their hometown.
d) Industrial Breakfast -Jim Amundson informed members the breakfast is scheduled
for April 27, 7:30 a.m., in the Community Center. The Chamber Board had
discussed an update of the commuter rail for the program; however, in lieu of the
recent proposal to reduce light rail funding from the State budget, all agreed
perhaps this was not the best topic. Program suggestions: Process for achieving
the Baldrige Award by Sunny Fresh President Jerry Rose and an update on the
development of the SW Comdor (Chelsea Road West and Chadwick/Goeman
property by Rick Wolfsteller and Jeff O'Neill.)
• IDC Minutes - 3/16/00
4. Continued -Consideration of an update on the progress to actively pursue acquisition of
land for future industrial use.
In the absence of Mayor Belsaas, Wolfsteller, and O'Neill, Koropchak reported a) WSB,
Inc. was authorized to complete a concept grading plan to ensure sufficient materials
remain for development of the city parcels after mining of the gravel nods. b) The first
draft of Swap Agreement is under preparation by the Chadwick Group. c) The IDC's
suggestion of February 17 relative to the Gold Nugget parcel was forwarded to the
Planning Commission on March 7. The Planning Commission took no formal action and
will continue discussions at their April meeting.
5. Consideration of a report on the visit to Monticello ~ Collier's Towle Real Estate.
Koropchak reported four representatives of Towle Real Estate met with Mayor Belsaas,
Wolfsteller, O'Neill, and Koropchak on February 23. Although a community and site tour
was given, the heavy fog limited its benefit. The group was looking for Monticello's
interest to market the land for a fee or as a joint venture. The Mayor expressed we were
not at that point nor has the concept been addressed. Koropchak indicated although she
was looking for the trends and demands in industrial use today, they were not eager to
share those insights. However, points of interest or value: The importance of creating an
image for the community such as creating a name for the park and an entrance sign(s).
• The importance of City being in "position" which means having TIF policies, uses, zoning,
protection covenants, and approval process time in place. A consistent plan and vision
among Council and City Staff. Exact access time or mileage from interstate to new
proposed industrial park via new Chelsea Road West. Koropchak passed around
marketing brochures or examples left by Towle Real Estate. Towle has a joint venture
with the City of Savage, Koropchak plans to arrange a tour and meeting with their city
staff and/or officials.
6. Continued -Consideration to distribute maps of fiber optic availability in the Cit~f
Monticello and the Chadwick/Goeman property.
Through the use of a large map, Ollig pointed out areas now served by fiber optic lines.
He proceeded by informing the IDC members that some years ago the goal of TDS was to
provide fiber optic availability to the Monticello/Enfield area and they began installation of
lines. The fiber optic lines to the Chadwick/Goeman parcel would be installed along with
the infrastructure or road improvements. All school facilities have high-speed fiber optic
lines to each building.
7. Other Business.
Tom Lindquist asked about the powers of the City to condemn the Amoco station along
West Broadway? O'Neill responded a city can condemn if the site is a hazard.
• 2
IDC Minutes - 3/16/00
Koropchak noted that at the Lender's Breakfast this site was identified by the lenders as a
priority for redevelopment. The lenders will be invited to HRA meeting of April or May.
8. Adjournment.
The IDC meeting adjourned at 7:50 a.m. and members went to tour the C.H. Holt Co. Inc.
at 208 Dundas Road.
~` 01 ~ ~~
Recorder
3
• ATTACHMENT A
Prospect and BRE Report -March 16, 2000
Twin City Die Castings -Fab-co and steel anticipated delivery date March 24 or 27. Industrial
Revenue Bonds to close Apri14 or S.
Intercomp- Preliminary uses and sources funding statement mailed March 3. No response.
25,000 sq ft Utility Company -Working with Winkelman Construction. Went to another
community.
Minn-Tech Machine Tool -Looking at lenders. .Would like to build 60,000 sq ft building, will
lease 10,000 sq ft themselves.
C.H. Holt Co. Inc -Precision tooling and machining -Leases 5,000 sq ft from Barger. IDC visit
today.
Allied Companies, Mark Houge -Met with Roger Carlson, O'Neill, Patch, and Koropchak on
March 14 relative to concept plan for development of approximately 180,000 sq ft total of
commerciaUlight industriaUwarehousing space for lease. Concept four buildings over phased
construction. Perhaps start end of July. Purpose of meeting to help promote concept.
• SD Call Center -Through Wright County Partnership - 44,000 sq ft. 700 jobs, $8-$10.
Profile Powder Coating -Prospect Team of Kevin Doty, Dan Frie, Ron Hoglund, and Koropchak
visited the existing facility in Rogers on February 29. The Rogers plant does metal finishing
process and the proposed 30,000 sq ft facility would do wood finishing process. The closest
facility doing this new process is located in Michigan. The company owner, lender, and
accountant visited Monticello on March 10 and met with Pfeffer and staff on site development
and had lunch with Brad Barger, Bill Tapper, Roger Carlson, and Bob Murray. The afternoon
meeting consisted of financing individuals from the State. The project is eligible for $450,000 of
State monies. Also looking at Imitative Funds and local funds. Thirty new jobs between $12 to
$16 per hour or higher excluding benefits. Tapper's prospective was the company needed to
research further the market for the wood finishing process, not that a future market doesn't exist
but the time it takes for acceptance of a new process.
BRE
Adaboy Manufacturing -Koropchak visited this Monticello industry on March 14 as they plan to
construct a 20,000 sq ft manufacturing facility. Currently they lease from Jay Morrell and are a
metal fabricator. They currently do business with Fay-Mar and Profile Powder Coating. They
are looking at Becker and Big Lake and plan to hire 6 new people with wages between $9-$14
• without benefits.
complete fencing (screening) on rear of site this spring as they have requested bids. They
renovated and expanded the office space.
Sunny Fresh expansion -The 17,000 sq ft addition is going well with equipment expected around
July.
Will host the Board of Directors of the Wright County Economic Development Partnership on
March 23, 8:15 a.m.
r:
•
Prospect and BRE Report - Apri120, 2000
Twin City Die Castings -Building is on it's way up. May cut back on steel tower and glass
walkway between manufacturing and office due to increase costs to meet fire codes for a
magnesium facility. Article in City Business Journal.
Profile Powder Coating, Inc. -This company did commit to the City of Monticello and will
purchase 3.15 acres of land from Pfeffer at the corner of Fallon and Chelsea Road. Preliminary
and final plat approval will be of the Planning Commission agenda in June. Approval of the TIF
Plan and District by the City Council is scheduled for June 12 with construction to begin early
July. The company would like to occupy the facility by November. 30,000 sq ft block building,
at least 30 new jobs at a range between $12 and $16 per hour without benefits. The Part I
application to the State of Minnesota fora $450,000 grant has been submitted as well as the Part I
application to the CMIF for $100,000. The EDA will review the preliminary application for
funding on Apri125. The president of the company is Steve DeJong. Received brochure in mail.
Intercomp -Can not get through to Billie Kroll, President.
H&R Industries, Inc. -Met with Gary Hase and John Coursey on March 23. Looking to lease
immediately 10,000 sq ft feet. 12 to 17 jobs between $12 and $14 excluding benefits. First
facility in Minnesota. The company a plastic manufacturer for temperature control products. The
Illinois facility deals with commercial and the Minnesota site proposed for electronic industries.
One large client is Hoffman Engineering in Anoka. Suggested and contacted MLC and Allied
Companies. On Apri14 via telephone conversation, they plan to come back to MN to look at a
facility in Elk River. Time frame doesn't work out for Monticello. Was a good prospect to let
go.
Adaboy Manufacturing -Working with builder for potential Monticello site to construct 20,000
sq ft facility. Now leases from Jay Morrell, lease up in November. I ran comparative TIF
numbers for steel and concrete building. BRE.
Allied Companies -Haven't spoke with Mark Houge of late, only about H&R Industries.
Alliant Techsystems, Inc -Wrote letter to Richard Jowett based on an article in City Business
Journal relative to relocation. In a telephone conversation since, Richard was impressed with our
brochure; however, the company surveyed their employees relative to relocation of which the
response overwhelmingly was "no relocation".
BRE
Sunny Fresh expansion on going.
30 marketing brochures mailed end of March.
Letters to industries and major employees of Monticello were mailed early April for update of
Community Profile. Other information also requested from lenders, hospital, schools, etc.
Marketing Committee must meet relative to Golf Outing -Golf ticket price up to $40 per person
plus bus and gratis lunch. June 14.
Plans to schedule meeting with City of Savage relative to industrial park development.
Lender, HRA, and Council workshop May 3, 5:30 p.m., downtown redevelopment.
Industrial Breakfast, Apri127, 7:30 a.m., Community Center.
•
•
vrww.bizjournals.com/twincities/
` ~ Die-caster ventures into magnesium
• • •
1 O '
By Jim Martyka
Staff reporter
Twin City Die Castings Co. wants to get
a little bit lighter,~a little bit stronger and sig-
nificantly bigger.
With a sweet deal from the city of
Monticello, the manufacturer of aluminum
and zinc die castings is building a $2 million
plant there, the Minneapolis-based compa-
ny's first venture into magnesium parts.
Executives say the plant, to be complete
by fall, will give the $40 million fu-m a place
in what they deem a growing market.
"We expect the demand for magnesium
to grow over 300 percent in the next 10
years," said Jay Eller, general manager of the
future plant. "Because of its strength and
light weight, a number of industries are
looking at magnesium components:'
Twin City will initially .install two die-
casters at the 35,000-square-foot plant, with
plans to add three more in the next few years.
The company also purchased six. additional
.acres of land at the site for further expansion.
- A goal is to make millions of magnesium
components annually by 2005. "We have no
customers as of yet," Eller said. "But we
know this market and the demand for mag-
nesium components is growing:'
"It depends upon what markets you're
targeting," said Lyn Joyner, president of
Brooklyn Park-based Joyner's Die Casting
and Plating Co. "Die-casting companies find
niches in specific markets and magnesium
makes sense in some:'
Twin City plans to focus on small to
Twin City Die Castings
Headquarters: Minneapolis
Revenues $40 million
rrounded: 1919 '
Employees: 235
l°lants: Minneapolis, *Monticello,
Watertown; S.D.
*Mondtello plAnt is under construction.
Source:Twtn City pie Castings Co.'
medium-sized customers in the hand tool,
computer parts,. appliance and auto markets.
Executives hope the firm's reputation and
increasing demand draw customers to
Monticello. The firm has started marketing its
magnesium manufacturing in trade publica-
tions and on its Web site (www.tcdcinc.com).
The firm began thinking of expansion last
year and looking at city proposals. Monticello
made the best offer, executives said.
The city gave the firm aseven-year
$500,000 loan with Community Development
Block Grant money. It also provided a
$100,000 loan, $225,000 in tax increment
financing and some industrial revenue bonds.
In return, Twin City will bring about 85
new jobs to the city by summer 2002, plus
the company name.
Monticello officials are trying to draw
more industry to the city, said Ollie
Koropchak, economic development director.
Monticello has tooling and machine firms in
the area but Twin City is its fast die-caster. ^
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Meeting Solutions group desk
March 24, 2000
Mr. Gary M. Hase, President
H&R Industries, Inc.
P.O. Box 1191
30553 South Dixie Highway
Beecher, IL 60401
RE: Site Locafion Search
Dear Gary:
It was a pleasure to meet you and your associate, John Coursey, on Thursday, March 23, 2000, and I hope your
return trip to Illinois was safe and timely.
Although our time together on Thursday was relatively short and did not allow time to tour the City of Monticello,
I believe the City of Monticello can offer H&R Industries, Inc. a site location which will enhance the image of your
company and provide your future employees with many quality of life options.
• I've enclosed a business card from MLC Building & Remodeling and I've left avoice-mail with Mark Houge of
Allied Companies relative to your visit and needs. I would be happy to work with either developer or a developer
of your choice to assist with the development and coordination of a project in the City of Monticello. Perhaps a
turn-key concept would work best for your expansion plans because of the distant between your headquarters and
Minnesota. As explained at our meeting, the City of Monticello had been successful and is experienced in the area
of providing supplementary financing to conventional financing. Please let me know the date of your next
Minnesota visit and I'll be happy to arrange a meeting with developers and other local industrial business leaders,
tour the Monticello sites, and look at specific funding options. Certainly, your aggressive time frame must be
addressed immediately.
Please do not hesitate to call me at 763-271-3208 at any time. I will be in contact with you within the next week
Sincerely,
CITY OF MONTICELLO
Ollie Koropchak
Director of Economic Development
c: Mayor Roger Belsaas
Rick Wolfsteller, Administrator
Jeff O'Neill, Assistant Administrator
File
Monticello City Hall, 505 Walnut Street, Suite 1, Monticello, MN 55362-8831 • (763) 295-2711 • Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362 • (763) 295-3170 • Fax: (763) 271-3272
MONTICELLO
March 27, 2000
Mr. Richard Jowett, Vice President
Alliant Techsystems, Inc.
600 NE 2 Street
Hopkins, MN 55343
Re: 150,000 sq ft office, laboratory, and technical area with flexibility to expand or lease space
for corporate staff.
Dear Mr. Jowett:
I read in the City Business Journal of Alliant's plans to develop approximately 150,000 sq ft of
office, laboratory, and technical space for their Integrated Defense Company and plans for a
second location to house Alliant's corporate staff.
• WAIT! Don't throw this letter away. The City of Monticello is only 36.8 miles from downtown
Minneapolis ..... No more traffic congestion for employees ..... Affordable and available land for
development.
The City of Monticello welcomes the opportunity to market our community to Alliant
Techsystems, Inc. The City of Monticello is open for business. I've enclosed copies of our
marketing brochure and additional information. In 1999, the Monticello School District opened
the doors to a new 278,000 square foot high school. This month, the City will host a grand
opening for the new 78,000 square foot community center and the Hospital District will open its
doors to a 30,000 square foot expansion including an expanded emergency room and birthing
suites. These are just a few of the new quality of life developments within our community of
approximately 8,200+ population located along I-94 between the Twin Cities and St. Cloud.
Additionally, the Monticello City Council authorized city administration to proceed with
negotiations for acquisition of 140 acres of land for industrial use. The property is located along
I-94 and construction of the infrastructure improvements to access the property is scheduled to
commence the end of May. This area would be an ideal site for your plans. The City also
markets privately-owned industrial zoned land within the city limits.
Lastly, the City of Monticello has a team of community/civic leaders willing to provide a tour of
our community. The team also visits existing plant facilities or businesses prior to determining the
level of financial assistance offered to a qualifying business. The City offers Tax Increment
Monticello City Hall, 505 Walnut Street, Suite 1, Monticello, MN 55362-8831 • (763) 295-2711 • Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rd., Monticello, MN 55362 • (763) 295-3170 • Fax: (763) 271-3272
MONTICELLO
Mr. Jowett
March 27, 2000
Page 2
Financing and the Greater Monticello Enterprise Fund (a below prime rate loan program). The
City of Monticello has been successful in obtaining State funding, industrial revenue bonds, and
regional low-interest loans.
Don't miss this opportunity, just give me a call at 763-271-3208 and come see for yourself. I
look forward to hearing from you.
Sincerely,
CITY OF MONTICELLO
Ollie Koropchak
Director of Economic Development
c: Mayor Roger Belsaas
Rick Wolfstaeller, Administrator
Jeff O'ht~ll, Assist~t Administrator
File
HISTORICAL TIF ASSISTANCE TO INDUSTRIES
. DISTRICT ASSISTANCE PROIOSE>D EiR«iV 3UI~Sd'WAGES
~ District 1 - IXI Land write down $60,000 EMV 5209,400 1982 12-IS ieruriediate jobs
~ District 3 - FSI Land write down $105,000 EMV $1,025,000 1984 65
~ District 4 - IXI HRA purchased Lats 5 and 6 EMV 693,000 1984 50-70
$154,800
Johnson's Lot 6
~ District 7 - NAWCO Land write down EMV $865,000 1987 45
$107,200
Site Impr $112,898 EMV $691,200. 1993 60
NPV
~ District 8 - NSP Land write down $21,200 EMV $195,000 1989 retain 10-12
~f District 9 -Tappers Land write dawn/site EMV$750,000 1990 25
$89,500
Site impr $25,000 EMV $475,000 1996 15 $8.30
~C District 10 - RemrneleLand write down $120,000EMV $806,000 1990 40
Site Impr $65,000 EMV $222,900 1995 expected
• EXPANSION
~jE- District 11- Martie Land write payg EMV $ 1990 2 ft - 2 pt
$17,500
~,r, o ~ District 12- Aroplax Land write $70,000 EMV $562,100 1991 25
Site irnpr $15,000 EXPANSION 10
District 13 -Standard Land/site payg EMV $1,250,000 1993 96 $10.30
$311,000 NPV
District 14 - SMM Land/site $50,000 EMV $300,000 1992 23
District 15- Custom Land $48,000NPV EMV$ 273,118 1993 14 $8-19
~ District 16 - Polycast Land $55,000 EMV $400,000 1994 20
District 17 -Fay-Mar Land 550,000 EMV $400,000 19'94 15
Site 550,000 NPV EMV $360,875 1997 15 $8.50
District 21 - LakeTovl Land/site 537,900 EMV 270,000 1997 5 $19.23
District 23 -Allied $181,000 EMV $1,750,000 1998 37 $8.24-$12
• (Midwest Graphics) Land writedown $58,500 Site impr $122,500 40 S10 to $16 wo/b
District 25 - Site imp $32,OOONPV EMV $300,000 1998 at least 3 jobs
Blue Chip (BBcB Metal Stamping)
@ $14.10 wo/b
• District 26 - $225,000 NPV EMV 51,019,000 Phase I 1999 85 new jobs
Twin City Die Castings Land-write down $210,000 ~. than
Site Improvements $15,000 SE.SQ ~
EMV $488,810 Prase II
District 27 $130,825 NPV EMV $970,000
Profile Powder Coating Land write-down
$110,250, public
improvements $20,575
TOTALS $2,133,823 $13,787,593 Original
HRA/Vector
•
Land $b3,000
2`.440 At leash 30 new
.ice, b~tvveea
$12 to $16 or
l~g$e~ wa/b
7lOjobs
1995 30 @ $12.00
•
~!
'
SC)URCES OF FFJ~S
January 1, 2000
GMEF Cash Balance $461,143.12
DMRF Cash Balance $174,078.08
UDAG Cash Balance $ 43,652.79
SCREG-Aroplax Cash Balance $ 9,741.95 (1998 Int. Income - Invest.)
TOTAL $688,615.94
LESS COMMITMENTS
TCDC $100,000.00
Claybaugh Architecture $ 3,000.00
BALANCE $585,615.94
date $500,004 Grant 4`~ interest rate amortized over 10 years ballooned in
years co~rtencng July 2000. This remains as City Funds for revolving
oan fund.
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