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IDC Agenda 05-18-1995AGERTDA MONTICELLO INDUSTP.IAL DEVELOPC",ENT COMMITTEE Thursday, May 18, 1995 - 7:00 a.m. City Hall MEMBERS: Chairperson Jahn McVay, Vice Chairperson Kevin Daty, Treasurer P.on Hoglund, Shelley Johnson, Arve Grimsmo, Don Smith, Jay Morrell, Ken Maus, Harvey Kendall, M~rrlyn Seefeldt, Steve Lemme, Tam Lindquist, Bill Tapper, Jim Fleming, and Cauncilmember Tom Perrault. STAFF: Ollie Koropchak. 1. CALL TO ORDER. 2. CONSIDERATION TO APPROVE THE MARCH 1E, 1995 HRA MINUTES. 3. CONSIDERATION TO HEAR AND ACCEPT THE MONTHLY IDC FINANCIAL P.EFORT . 4. CON a} b) c) d) e) BRE a) b) SIDERATION OF PROSPECT UPDATES: Bonnie Crcley Nancy Asp Quality Welding/Ragen Corporation Larry Saridvig 130,000 sq ft facility P.EFORTS Standard Iran & Wireworks - Shelley Johnson Decorative Services - Bill Tapper c ) FSI - Ken Maus d) Fay-Mar Metal Fabricators e) Midwest Graphics, Inc. f) Liberty Savings June Reports: Bondhus Corporation, Arve Grimsmo: Tire Equipment Service, Bill Tapper; Haglund Transportation, Jim Fleming. 5. CONSIDERATION OF THE EDA YEAR-END FINANCIAL REPOP.TS. 6. CONSIDERATION OF FEEDBACK FOR BRE BREAKFAST EVALUATION. 7. CONSIDERATION TO DISCUSS COMPREHENSIVE PLAN UPDATE MEETING OF MAY 15. 8. CONSIDERATION OF OTHER BUSINESS: a) Confirmation of IDC Banquet Guest Speaker (Donation) b) Economic Development Partnership of Wright County c) Proposed 1995 IDC Budget. 9 . OTHER BUSINESS a) Chamber A9eeting, today, noon, American Legion Club. Program: Community Updates 10. ADJOURNMENT. MINUTES MONTICELLO INDUSTRIAL DEVELOPMENT COMMITTEE Thursday, March 16, 1995 - 7:00 a.m. City Hall MEMBERS PRESENT: Vice President Kevin Doty, Treasurer Ron Hoglund, Shelley Johnson, Don Smith, Jay Morrell, Ken Maus, Harvey Kendall, Merrlyn Seefeldt, Steve Lemme, Bill Tapper, Jim Fleming, and Councilmember Tom Perrault. MEMBERS ABSENT: John McVay, Arve Grimsmo, and Tom Lindquist. STAFF PRESENT: Ollie Koropchak. 1. CALL__TO ORDER. Vice President Kevin Doty called the IDC meeting to order at ?:00 a.m. 2 . CONSID_ERATION__TO_ APPROVE THE_ NOVEMBER 17 AND DECEMBER 15 , 1994, AND THE FEBRUARY 16 , 1995 , IDCry MINUTES . _ ..__-~ -- Ron Hoglund made a motion to approve the November 17 and December 15, 1994, and February 16, 1995, IDC minutes. Harvey Kendall seconded the motion and with no corrections or additions, the minutes were approved as written. 3. CONSIDERATION TO HEAR AND ACCEPT THE MONTHLY IDC FINANCIAL REPORT . ---~_____._,_~_ ~.. Treasurer Hoglund reported a balance of $3,895.97 at First Bank and a balance of $8,278.10 at Marquette Bank for a total monthly balance of $12,174.07. The IDC Executive Committee has not met with Administrator Wolfsteller regarding the 1994 salary/benefits of $14,938.38. Ken Maus made a motion to accept the monthly IDC financial report as given. Steve-Lemme seconded the motion and with no corrections or additions, the financial report was accepted and filed. 4. CONSIDERATION OF PROSPECT_ UPDATES: a) 150,000 sq ft distribution center - See attached letter. Upon the company's visit to Watertown, SD; the Governor flew-in and the company was told, "You will make money in SD." b} Quality Welding, Inc. and Rogers Corporation - City received an offer from Quality Welding on February 13. On February 27, the City Council approved a counter-offer of $61,700 with all additional provisions removed from the company's offer for Lots 5 and 6, Block 1 , OIP Second Addition. Counter-offer is valid for two months with no Page 1 r 1 IDC MINUTES MARCH 16, 1995 guarantee of TIF. Previously on February 7, the HRA gave preliminary concept approval for the use of TIF. Pay-as- you-go land write-down of $40,000 upon receipt of a letter testing of the TIF "but for" test. Construction of a 15,000 sq ft metal building, estimated annual taxes of $16,000 ($144,000}, 10 current jabs and creation of 15 jobs by 1997 at $9.50 to $10.00 wage per hour. Over the life of the TIF District (11 years), the city would have an estimated HACA Loss of $30,103 (NPV @ 8~} and the tax increment is estimated at $48,157 (NPV (~ 80). On March 7, Koropchak contacted Ron Johnson. He had heard no word from the City and assumed the City was not interested. They are now looking at Becker. c} Steinwall, Inc. - Estimated per square foot cost of the 52,000 sq ft block building and five acres of land at Highway 10 and Hanson Blvd, Coan Rapids, was approximately $24.00 per sq ft. Other costs are electrical and plumbing upgrades and relocation expenses. d) 15,000 sq ft building to lease - will be meeting with company tomorrow. e} Polaris Micro Technologies, Inc. - New company, produces custom-build micro computers for small businesses and educational institutes. Specialty is training. Looking for 1,00-2,000 sq ft showroom/office. Wanted information on available financial incentives and lease space. f} Innovative Creations, Inc. - Has business plan, no bank financing. In research and development stage, manufacturers computer service device which regulates the MN driver (markets the transportation systems.) BRE REPORTS: a) Sunny Fresh Foods - Had heard of a joint-venture with J&B Meats of St. Michael to construct freezer space. Contacted Joe Campbell, no joint-venture with J&B; however, may rent space as with Bell Co, St. Paul. Potential expansion of office/production in the future. b) H-Window Company - Steve Burnham, MN Trade Office reported the H-Window will be represented in the MN booth at the Home Builders Trade Shaw in Japan. Mr. Lemme reported the window company is retooling for a new hinge and casement to be price competitive. Don Smith reported Erik Fjerdinstad returned to the family-owned window business. c) Tire Service Mfg Equipment - See attached. d) Remmele Engineering Plant 40 Big Lake - At the Quad County meeting, Curt Jacobsen, new City Administrator of Big Lake, reported Plant 40 would expand this summer. e} Standard Iron - See attached newsletter "Update". Page 2 IDC MINUTES MARCH 16, 1995 f) Genereux Fine Wood Products - Bill Tapper reported he would firm up agreements with the bank this week and with the architect next week. The preliminary SBA application was accepted and other criteria far the final application is in progress. The manufacturing addition will be 17,000 to 20,000 sq ft, parking in rear to enhance truck movement. Fifteen new jobs. g) M&P Transports - Being landlocked, M&P purchased Lot 2, Block 3, OIP, for additional storage and parking. This lot is not contiguous to his existing facility. The City Ordinance does not address or regulate storage/parking of parcels which do not contain a primary use. After a couple of meetings with staff, Jay Morrell was looking for a recommendation from the IDC. Two options are a conditional use permit or a temporary permit (5 years). A similiar situation occurs for Bridge Water Telephone with the need for off-street parking. The City of Blaine has some lots designated for storage only which require surfacing with a classified product and screening. Not a big tax revenue generator. Although this may make some sense, Ken Maus had concerns about the future and gave examples of similiar requests by boat storage and blacktop firms. The IDC discussed the potential of a conditional use permit in the I-2 Zone for use and storage associated with that of an existi~ business following notification to the existing businesses. Bill Tapper made a motion encouraging the City Council to invent an appropriate use to accommodate the unusual reed cf an existing industrial business. Ken Maus seconded the motion and with no further discussion, the motion passed unanimously. Due to the lack of a labor force, Jay Morrell recommended a regional effort be made to establish a tie with trade schools. 5. CONSIDERATION TO REVIEW THE _IDC SUBCOMMITTEES AND $RE NETWORKING APPOINTMENTS . ~~~ ~~~~ _.__..~_.__..._w,._____._ _,__ Koropchak thanked members for returning the request forms and reported most individuals were appointed to their first choice of subcommittee or businesses. If changes are requested, those would be accommodated. 6. CONSIDERATION TO HOST THE BRE BREAKFAST. a) Thursday, April 20,~ 1995 µ-~W7:30 a.m. - Koropchak requested a confirmation for balding the BRE Breakfast at the Riverwood Metro Business Resort. Last year, 55 Page 3 IDC MINUTES MARCH 16, 1905 individuals attended the breakfast for a cost of $372.06. Having checked availability of the resort, the breakfast will cost $3.44 per person including buffet, tax, and gratutity or $422 if 50 individuals attend. The BRE Subcommittee will make final arrangements for the event keeping in mind its objective of networking and consider reducing time of introductions. IDC members were reminded to contact their appointed BRE business and to encourage them to attend. Koropchak will mail letters to all businesses announcing tree breakfast date. IDC members agreed to hold the event at Riverwood at the stated price. 7. CONSIDERATION OF~A PROGRESS REPORT OF THE COMPREHENSIVE PLAN UPDATE . --------_ ,_.___.._. __._.__.__.......______._.---__..._,._....~.._,.._._.._...r__.,__..._____~_._._....._. Report was mailed with the agenda. E. OTHER BUSINESS. a} IDC Banquet Date - Recommended dates were the fourth Tuesday, October 24, cr the fifth Monday, October 30, 1935. Since five Mondays exist and to avoid a conflict of interest with school activities, the IDC elected Monday, October 30, 1995 as the IDC Fundraiser Banquet date. Koropchak circulated a copy of Dr. David Landswerk's resume, a recommendation from Charlie Hermann. Shelley Johnson reported he has heard Dr Landswerk speak and he's excellent. The speaking fee is $1,000 which includes mileage. He requires an overhead and screen. Recruitment of a speaker and funding far the speaker was referred to the BRE Subcommittee. b} Chamber meeting today, noon, at the American Legion. Speaker is Senator Mark Ourada. "Chamber Day at the Capital", March 22, 1905. Car pool leaves City Hall at 6:15 a.m. Ken Maus, Ron Hoglund, Tom Perrault, and Jim Fleming expressed interest in attending. Business Expo date, Sunday, November 12. c} HRAlCity Council TIF WorkshoplMeeting - Thursday, March 16, 1995, 7:00 p.m. , Gity Hall. IDC members were invited to attend this workshop. HRA Steve Bubul of Holmes & Page 4 IDC MINUTES MARCH 16, 1995 Graven will facilitate the workshop. Jim Fleming and Shelley Jahnsan, unable to attend, requested copies of handouts. d} The City Council appointed Bill Demeules as a commissioner of the EDA at the recommendation of the EDA. e) Darrin Lahr, NSP Community Service Representative for the Northwest Region, is a new member of the Wright County Partnership. With the potential hiring of part-time staff person, location of staff person may be at the NSP- Monticello Administration Building or at the new Wright- Hennepin Electric Building in Rockford. Buffalo City Administrator reported Buffalo developed a new industrial park, 40 acres awned by the City. Lake Pulaski is now fully served by city sewer and water. The partnership will complete their annual report and begin their membership drive. MTED Representative Wenner repart~d on the Enterpreuership Program for High School Students and of Bridgemen's franchise and schlorships. 9 . ADJOURNMEPIT . The IDC meeting adjourned at 8:15 a.m. O J~.~ \~~ Ollie Koropchak, IDC Executive Director Page 5 • These terms may seem foreign now but over the next 6 months you will be hearing a lot more about them. HEMPAC, the Higher Education Manufacturing Process Applications Consortium, is a group of six institutions of higher education (Alexandria Technical College, Anoka-Hennepin Technical College, Pine Technical College, St. Cloud State University, St. Cloud Technical College, University of Minnesota-Duluth). The mission of HEMPAC is twofold.: 1) to introduce and implement advanced manufacturing techniques at regional firms, using integrated manufacturing processes and techniques, and 2) to enhance curricula and infrastructure at member institutions to expand capacity for services delivered. As one of its services, HEMPAC offers a program called the Manufacturing Improvement Process (MIP). This process is based on a process for sustained quality improvement and waste reduction in manufacturing companies called Optimized Operations (02). The 02 process, which was developed by 3M Company, has been used successfully in over 260 applications at over 150 plants. In delivering the 02 methodology outside 3M Company, HEMPAC has added faculty training, trainer evaluations, student involvement and curriculum improvement. HEMPAC's current objective is to deliver MIP to 36 firms over the next three years. Standard Iron has been chosen to be one of these 36 firms. The MIP workteam consists of the following people: one faculty member from one of the HEMPAC institutions with training and/or experience in 021eadership principles to serve as a project leader, two company employees, and two student interns. They follow these guidelines: •Gather data and develop operational definitions of problems. •Collect data to determine the characteristics of problems. •Perform cause and effect analyses and determine root causes. •Brainstorm solutions to problems and determine the advantages and disadvantages. •Implement optimal solutions and analyze degrees of success. •Standardize procedures and instructions to maintain solutions and protect against errors. •Repeat from step 2, while handing off processes and tools to company representatives. The objective of this structure is to teach the MIP process to Standard Iron to keep continuous improvement going even when the instructor and interns are gone after 6 months. The project will be starting in late March to early April. v SPRING IS JUST AROUND THF, CORNIsR!! HEMPAC, MIP & 02 - By Rich Demeules Standard Iron Update From the president's desk - By Rusty Demeules Organizations today are driven by the need to continually improve the delivery of services to customers who demand the seemingly impossible. This challenge has prompted. a close analysis of how Standard Iron will do business now and in the future. We need to look at all the objectives and the processes that support them. This process does not work perfectly because the needs of our customers are changing, which constantly requires us to also change. It would be nice if we could have a few years without change, but this is not practical. For Standard Iron this means a focused effort to redirect both the intellectual capital and the physical assets, to more directly serve the primary business objectives of Standard Iron. Successful change requires a clear understanding of the objectives, as well as the tasks and processes that deliver them. This is a substantial challenge for any company, but Standard Iron has the employees, the financial resources, the technological strength and the industrial know-how to help our customers, but we need your help and support to accomplish this. r: Personnel update - By Joanne Forbord Affirmative Action Standard Iron has always provided equal employment opportunities for all applicants and employees. We are now going a step further by implementing a formal Affirmative Action Plan, and. are currently in the process of submitting a plan to the State of Minnesota Department of Human Services. There is not a large population of minority applicants available in any of the counties where our 3 facilities are located. As in the past, we will continue to hire the most qualified applicants and promote from within when current employees are the most qualified candidate. Certification of our Affirmative Action Plan will allow the Construction Department to bid more jobs that are funded with federal or state monies. This will hopefully increase Standard Iron's sales in the Construction Division. Once the Plan has been approved it will be available to employees to review if they are interested.. You will hear more about this Affirmative Action Plan in the months to come. r1 cat has nine li~~es with eight to spare: You'have but one, so be safe--Reware'.>s Page 2 Spring Standard Iron Update Alexandria facility happenings - By Dawn Carlson The Quarterly Safety Drawing was won by Scott Thanks to everyone who made this tournament a Powers. CONGRATULATIONS! fun time and we hope to see you all next year! The Fishing Tournament was held on Saturday, February 18th. The winners of the tournament were: Grand Prize of $100.00 for the largest fish (Northern) went to John Fredricks. 2nd place prize of $50.00 went to Randy Keller for catching the 2nd largest fish (Northern). The winners for the other categories each received $30.00 for their large catches- Largcst Walleye -Lynn Thompson Welcome'.! Nancy Krull -Welder Douglas Madison -Welder Daniel Bartels -Laborer (Part-ti me) Jarett Knall -Laborer Congratulations!! March 21 Tim Moen 6 Yrs. Apri126 Lonnie Martin 5 Yrs. Apri129 Scott Powers 1 Yr. May 2 Mark Hvezda 1 Yr. May 14 Dawn Carlson 10 Yrs. May 29 Darrin Thompson 11 Yrs. Largest Bass -Don Notch -- _ _ _ _ _ Largest Sunfish -Jeff Tschida Largest Crappie - Darrin Braaten ~ We had a great day for fishing, the weather cooperalcd nicely. There was not a lot of frsh caught however, there was a lot of good food and fun times for everyone! Monticello facility happenings - By Lanie Laumeyer Congratulations to the new Employee Committee Members for 1995: Kelly Ciemia Jerry Frye Lanie Laumeyer David Miller Char Williamson A BIG THANKS to our outgoing members Bill Demeules Deb Glimmerveen Mike LeVoir Our Holiday Party was held on December 3rd at the Monte Club in Monticello. Everyone really had a good time and we had a terrific turnout, 124 people showed up to enjoy the good food, fun company and to celebrate the holiday. Cupid was seen in the lunch room leaving treats for everyone on Valentine's Day. THANK YOU! We will keep you informed of upcoming events. Welcome!! David Farnum -Welder Robert Webb -Press Brake Operator Travis Brambrink -Welder Richard Lamborg - Wcldcr Mike Moss -Welder Mary Scarbrough -Customer Service Tammy Stortz -Accounting Clerk Garry Houck -Machine Operator Jeffrey Reynolds -Machine Operator Lee MacRae - Shipping/Receiving Becky Johnson -Welder Troy O'Brien -Welder Ryan Hughes -Welder Steve Bachler -Machine Operator Daniel Mahoney -Welder Roger Keskey -Machine Operator Terry Wassather -Welder Congratulations'.! March 7 Lynn MacRae 1 Yr. March 14 Rusty Dcmculcs 29 Yrs. March 2C Rik Iverson 5 Yrs. April l Larry Olson 1 Yr. April 6 Doug Peterson 1 Yr. April 11 Char Williamson 1 Yr. April 18 Roy Veal 1 Yr. April 19 Sheila Gotvaslce 1 Yr. Apri126 John Ross 1 Yr. May 4 Lanie Laumeyer 2 Yrs. May 21 Brent Curtis 5 Yrs. May 28 Deb Glimmerveen 4 Yrs. 1995 Page 3 Standard Iron Update Sauk Centre facility happenings - By Sheryl Fenger The Quarterly Safety Drawing was won by James Bronson. CONGRATULATIONS! Sauk Centre held a Geometric Tolerance Class, which several people from all three facilities attended. The class was given by Alexandria Technical School. They met two hours a night for four weeks. The purpose of this class was to update employees on Geormetric Tolerance. Our Holiday Party was held in December at the River's Edge. We had a good tum-out and everyone enjoyed themselves. Page i Safety Poster Contest The winners of the Plant Safety Poster' Contest arc asfollows: `' (:rand Prize ~~'ii~ner r~100.00): Lance`'Peltier -Alexandria Alexandria's Winners'~ti~ere:' 1 st'Pl ace'($SO.t><l} - Steve Bprchert 2ni~ Place;(~?5.O0) -Lance PcTticr Alexandria's Ot}rer Entrees: Stephanie7lescltinc Dave Larson :Robert McBride. Bruce Smith Chad Wa~ncr Tom Wagner Jack Wcstergrc n` Tom Wicrin~ Roger Zwicg Mnnticetlo's Winners ~~~ere: lst`Placc($50.(?~) -Bolo Randall 2nd Place',{$25.Ox) '- Mark Farnum M~~nficellb's`OtherEntrees: Tom Shcl~luisr Roy Veal Sauk Centre's ~'~'inners ~i~ere: 1st Place'(~50,fX)) -Sheryl Fenger ?nd Place ($25,t)U} - Maurice `:Mallin ~, All;oC theentrecs' were good, g~~cat imaginations? Thanks to alt ~~ho enured! 4 Welcome!! Troy Devens -Machine Operator Steve Hansen -Machine Operator Craig LeClair -Machine Operator Jay Boschee - Receptionist/Shipping Ronald Shann -Welder Ben Arenkiel -Machine Operator Brian Loxtercamp -Machine Operator Van Rone -Machine Operator Ricky Marthaler -Machine Operator Jeffrey Georges -Machine Operator Robert Kramer - Machine Operator James Irwin -Machine Operator Brian Loxtercamp -Machine Operator Congratulations!! March 5 Ronald Woodard 4 Yrs. March 7 Todd Skramstad 7 Yrs. March 7 James Estrem 1 Yr. March 8 LeRoy Thompson 2 Yrs. March 18 Roger Schroeder 2 Yrs. March 19 Delwin Judes 11 Yrs. March 19 James Weber 22 Yrs. March 25 Chris Welsch 4 Yrs. March 26 Michael Poepping 11 Yrs. March 29 Kip Spencer 5 Yrs. April 3 Robert Loxtercamp 6 Yrs. Apri14 Craig Anderson 1 Yr. April 8 Leon Blonigen 4 Yrs. • April 23 Maurice Mallin 10 Yrs. May 8 Michael Motzko 16 Yrs. May 10 Edward Wallin 19 Yrs. May 15 Richard Woodard 6 Yrs. May 16 William Pohlmann 10 Yrs. May 17 Bruce Hegg 19 Yrs. May 17 Dwight Tschida 16 Yrs. May 26 Richard Hujanen 3 Yrs. The Standard Iron U P D A T E Published quarterly by Standard Iron & Wire Works, Inc. 207 Dundas Road Monticello, MN 55362 (612)295-8700 Managing Editor: Deb Glimmerveen Contributors: L.T. "Rusty Demeules, Joanne Forbord, Lanie Laumeyer, I Dawn Carlson, Sheryl Fenger, and Rich Demeules Spring • IDC AGENDA MAY 18, 1995 4. Consideration of Prospect Updat e~ _ a) _ . _ _ Bonnie Croley - Initial call in late March. This Maple Gro ve manufacturer of packaging machines is looking to relocate and expand. Initially, the company was looking for a 50 000 s ft , q expansion or a 100,000 sq ft relocation/expansion 20 . to 30 acres. 50 or 125 jobs within two years. Looking at Rogers, Alb~rtvill~ , others, 1996 spring construction. Invited to BRE Breakfa t s . Completing long-range plan, call June 5 to arrange a visit to Monticello or to existing facility. The c b} ompany now looks to keep everything under one-roof. Nancy Asp -- Located i n a redevelopment area of Osseo, this cabinet milling/desi n c g ompany was looking to lease 15,000--20,000 sq ft. 15 jobs with the additio f n o 5-10. Looked at Pfeffer building in early April, not cost effective J , une 1st occupancy needed. Koropchak met with the husband!wife o wners prior to the tour with Mr. Pfeffer. c) Quality Welding; P.ogen Corporation - This company has made a committm~nt witl^ th . e City of Maple Lake. 15,000 sq ft, 10 immediate jobs, 10-15 within t d) wo years. Larry Sandvig - This one-year old Le Center manufacturer f o rubber base products initially was looking to lease 7 000 s ft , q . Eight jobs, four additional. With the fast growth and recent contract with the Nav th y, e company is receptive to construction of 10,000-15,000 sq ft production/headquarter facility. Looking at northwest corridor and Y.ansas City, KA. e) 130,000 sq ft facility - Peal Estate agent, mac~iinist f) company, 75 jobs, 5 acres, relocation/expansicn. Others BRE REPORTS: d) Fay-Mar Metal Fabricators - Ron hopes to start moving in to their new facility along Chel R sea oad around the first of June. Has option on the adjoining three ac e} res, Midwest Graphics, Inc. - Stephen Krenz, owner. This company has purchased the Fallon Avenue facility marketed b Ch li y ar e Pfeffer. 30 part-time employees, anticipate 30-50 full-ti me jabs by year-end. Mr. Krenz plans to host an Open House in about a month. Company brochures are in tie moil for IDC members f} . Liberty Savings - Groundbreaking was held May 8 , anticipated 16 jobs, occupancy expected September 1. ~~ MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY GREATER MONI'ICELLO ENTERPRISE FUND (GMEF) Statement of Revenues, Expenditures and Changes in Fund BAlance For the Year Ended December 31, 1994 REVENUES Appropriations - 1994 Liquor Fund 1994 UDAG Payback Note - Mullet' TY~eatre Interest Income - Ntit~G Interest Income - In~t~stment (est,) Loan Fees Miscellaneous TOTAL REVENUES EXPENDITURES Legal Fees Service Fees Int. Adjustment - Nct~g TOTAL EXPENDITURES ~ Excess of Revenues Ove+t• Experdjitt'ur'es FUND BALANCE - Beginning of Year FUND BALANCE - End of Ye~t;w ~0~ ~0= $ 50 , 000.0'0 $ 18,493.63 $ 2,948.00 $ 1,125.00 7,741.53 $ 540.00 ~ 140.00 ~~,,... 0 _ ,.. ~g0 00 $ 73,b61.53 636 61`408_ $709,675.61 c • '~ • ( MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY GREATER MONTICELLO ENTERPRISE FUND (GMEF) Balance Sheet December 31 , 1994 • ASSETS Cash in Bank $209,8$4.73 Notts Receivable Notes Receivable - Tapper, Inc. - Muller Theatre ~ $ 78,83.71 NotQS Receivable - SMM, Inc. -0 $ 46 Noteffi Receivable - Aroplax Corp. ,708'86 $ 63 Notes Receivable Notes Receivabl - Custom Cano n Inc. ,071.52 $ 40,3$2.69 e - Standard Iro $ ?1,344.10 Appropriations Re ceivables - 1994 Other 1994 Liquor Fund $100,000.00 $100,000.00 TOTAL ASSETS ~~ ~ "~? ~~U„I TY ~ Fund Balance Reserved for Participation Lbgn's (Economic Development) TOTAL LIABILITIES AND FUND EQt1I~'Y r~ $709,875.61 .~'~ 0~_~ ~'~:~ . X51 ~. URBAN DEVELOPMENT ACTION GRANT (UDAG) - FSI FINANCIAI, REPORT March 7, 1995 • Payback began in January, 1988 for 12 years ending in January, 2000. Annual principal aid interest payback total is $27,971.40. Prlncipai 1.1~INA Interest $"fjib,9g7.71 $7~,6g9.09 TOTAL - ~5~~ ~~,~ ~„ f~fib~ip~l~ Payback Itlt~tt~at Payback interest Income -Investment: 1990 1991 1992 1993 1994 (est.) Transfer from GMEF - [company] ~'ransfer from GMEF - [company] 1'b`l'AI. REVENUES PALQ $140, 730.78 $57,399.97 $198,130.75 $140,730.78 $57,399.97 $3,562.62 $8,593.59 $8,436.32 $7,918.92 $3,901.00 $230,543.20 EF~dAi~IJ.dQ $116,226.93 $21,299.12 $137.526.05 1'991 Transfer to GMEF $65,000.00 1992 Transfer to GMEF $20,000.00 1993 Transfer to GMEF __ $42,500.00 TOTAL EXPENDITURES $127,500.00 I~WND BALANCE FOR ECONOMIC DEVELOI~IT I~eCember 31, 1994 03, 3.20 FJaA0,WK1; p3/03/95 • SMALL CITIES ECONOMIC RECOVERY GRANT (SCERG) - AROPLAX FINANCIAL REPORT March 7, 1995 I~ayback began in December, 1992 for 7 years ending in November, 1999. Annual principal and interest payback total is $29,801.40. First $100,000 principal payback ends Januazy, 1997. SRANT TOTALS Principal Interest S?J~INAL $170,b00.40 $37 969 92 PALQ $50,115.40 13EMAININ.~ $119,884.60 TOTAL , . $207,969.92 $11,970.95 62,086.35 $25,998.97 $145,883.57 P11Meipel Interest Jam $170,000.00 M. $ 0,153.60 ~~ 846 $69 40 T01'AL $29 634.75 $199,634.75 $23 659.34 $123 812 94 , . 5,975.41 , . $75,821.81 Gr~t~t must be expended by December 31, 1994, up to $17 0,000. • EXPENDED: $116, 556.75 $16,996.18 $12,356.59 $4,021.10 $15,132.50 $4,936.88 $170,000.00 h>~i~alp~-I Payback I~t~tr~~ta payback 1~1t~1'~~t Income -Investment: 1993 1994 (est.) TOTAL REVENUES EXPENDIT___ UREA Transfer to GMEF TOTAL EXPENDITURES 1993 1993 1993 1 /18/94 4/13/94 7/20/94 $50,115.40 $11,970.95 $1,061.92 1 256.00 64,404.27 $0.00 $0.00 • FUN~~ BALANCE FOR SMALL CITIES GRANT Dec®mb~r 31, 1994 6:2~ SCERQ-A. WKi : 03/03/95 • • ~ a ~~ ~' ~r ~, ~ w ~ ~ v~ ~ ~~ ~ ~ ~ o ~ ~ •-" ~ p C~ '~ ~ ~ O O ~` O O .n C .s ~ ~~ o ~~ N ~ y ~ ~ ~ ~ N ~Ny ~ ~ b ~ b '~ N ~ T ~ -. ~ .~ O ~ O • ~ ~ ~~~ ~ ~o oo~ o~~ ~ ~~~~ ~g~° ~~ oho°°° ~' ~ ~ ~ ~°~ ~ b~ a~ ~ ~ ~ .~4 000000 000000 ~ o ~ o 0 0 aaaaaa wwwwww ~~~~~~ _Z Z Q W W U 4 m Q ,,L].. vJ W W D J _~ U Z `I c~ 0 1 OoDtNt~O ~ ~Q ~op~ ~p ~dt~ ~ ~ QO ~ u? O c~ i.c~ N .~~. $ oinu~~coc~ M M O ~ Nt1) ( p l(j O CO fit' et CV f'7 ~('7rr~r I.f)(DCOrMr O M~''~etONN EF~A6Rb969 N CNO b 34A OOd'00rp NOrd'Mp (V r N ~O ^ M . -l~ d~ON~r~} O N p (f} ~ fA Nfl3 6R f!) Q j $$V $$Q p O O O OO~~tOhO ~~~~~ ~_ ~~ r ~~N^~~ ~ v N C ~ :m*"SiUo ~ ~...~E ~~,~ o c ~~ ~~ ~ m ~~ oU~ ~ ~ ~ Q ~ N ~~~~~~ Q ~ °'.c° Y E Fes- ~ m c~ ao n O O O O p M 0 rn rn T ~ ~ O Q Q T , 0 0, w • a,~` ~ ~b April 21, 1995 Ollie Koropchak Economic Development Director City of Monticello 250 East Broadway P.O. Box 1147 Monticello, MN 55362 Dear Ollie, This will confirm my presentation to the Monticello Industrial Development Fundraiser • Banquet on October 30, 1995 at 6:30 P.M. at the Monte Club. Everything in your letter of April 5, 1995 is acceptable. I would like you to provide an overhead projector and screen. The physical arrangements are up to you and anything will work for me. I appreciate the invitation and look forward to being with you. Co ~ ly, David R. Landswerk n 3050 Holay Lane • Plymouth, MN 55447 • Phone/Fax (612) 473-7148 C~ BALANCE REVENUE: Banquet 1993 ACTUAL 1994 PRt1Pt1~Fn ,oae rnTTTTY 1995 MONTICELLO INDUSTRIAL DEVELOPMENT COMMITTEE PROPOSED BUDGET .7anuary 31, 1395 $ 10,650.27 7,950.00 $11,575.30 $ 8,500.00 650.00(93) 0 6,65o.oa 2,800.0093) ... __...._ ._z ~ a. w a o. $30,425.30 $11,575.30 $ 9,475.00 650.00 1,000.00 6,650.00 2,800.00 201.68 Marquette Bank City Cor~trib 12,750.00 Chamber Contri 2,800.00 Interest 227.75 TOTAL REVENUE _ ~ ..._.__.__._.___._._...__..._.__ PLUS BALANCE $34,378.02 EXPENDITURE: Sal/Benefits $32,351.98 $15,634.14(92) $15,582.03(93) $15,582.03 Banquet 2,355.87 Banquet Speaker Travel Exp Prospects Memberships Seminars Market/Adv BRE Grbk Recept Miscellaneous Service Chg TOTAL EXPEND 25.25 95.05 110.00 60.00 4,051.80 295.00 77.60 87.76 10.25 $22, 802 • 7t 2,750.00 200.00 500.00 625.00 100.00 4,000.00 500.00 200.00 1,000.00 25.00 $25,482.03 2,432.94 1,000.00 0 87.99 625.00 83.62 0 372.06 0 20.00 0 $20,203.64 BALANCE $11,575.30 $ 4,943.27 $12,148.34 1595 PROPOSED $12,148.34 $ 9,000.00 1,000.00 G $ 2,800.00 225.00 $25,173.34 $ 2 , 000.00 1,500.00 2,500.00 1,000.00 200.00 500.00 625.00 100.00 4,000.00 500.00 200.00 1,000.00 0 $14,125.00 $11,048.34 250 East Broadway `~~~''''` ~`` P. O. Box 1147 Monticello, MN 55362-9245 Phone: (612) 295-2711 MoNTICELLO Metro; (612) 333-5739 Fax: (612) 295-4404 MAIL T0: INDUSTRIAL DEVELOPMENT COMMITTEE ATTN OLLIE KOROPCHAK PO BOX 1147 MONTICELLO MN 55362 ACCOUNT NUMBER DESCRIPTION 101.46501.1010 101.46501.1310 101.46501.1250 101.46501.1210 101.46501.1220 • salary reimbursement insurance reimbursement medicare reimbursement PERA reimbursement SS-FICA reimbursement 05-08-95 ~~994 4 6 91 PAYMENT DUE 06-OS-95 (1% interest per month will be charged after due date.) Make checks payable to City of Monticello. PLEASE RETURN PINK COPY WITH PAYMENT AMOUNT 6300.00 438.00 92.00 281.00 389.00 TOTAL DUE: 7500.00 ~s ~