HRA Agenda 09-03-2003
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AGENDA
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Wednesday, September 3, 2003 - 6:30 p.m.
505 Walnut Street - Bridge Room
Conlm issioners:
Chair Steve Andrews, Vice Chair Bill Fair, Darrin Lahr, Dan Frie, and Brad
Barger.
Council Liaison:
Roger Carlson.
Staff: Rick Wolfsteller, Ollie Koropchak, and Lori Kraemer.
1. Call to Order.
2. Consideration to approve the August 6, 2003 I-IRA minutes.
3. Consideration of adding or renlOving items from the agenda.
4. Consent Agenda.
A. Consideration to approve Certificate of Completion for UMC.
5.
Consideration to review revised concept design, requested TIF assistance, and T1F cash tlow
projections for Phase] I of Landmark Square and to authorize I IRA Attorney to begin drafting
the Redevelopment Agreement.
6. Continued - Consideration to hear updates:
A. Redevelopment of a portion of Block 5 I.
B. Phase I, II, and III design concept for a portion of Block 52.
C. Fstilnated balance of Tenlporary TIF District No. 1-22 Bond.
7. Considenltion to authorize payment of HRA bills.
8. Consideration of Exccutive Director's Report.
9. Comlnittee Reports.
A. Marketing Subcommittee
10. Other Business.
II. Adjournment.
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MINUTES
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Wednesday, August 6, 2003 . 6:00 p.m.
505 Walnut Street - Bridge Room
Commissioners:
Chair Steve Andrews, Vice Chair Bill Fair, Darrin Lahr, Dan Frie, and Council
Liaison Roger Carlson
Brad Barger
Rick Wolfsteller, Ollie Koropchak, and Lori Kraemer
Absent:
Staff:
1. Call to Order.
Chair Andrews called the meeting to order at 6:00 p.m. and declared a quorum.
2. Consideration to approve the Julv 2. 2003 HRA minutes.
A MOTION WAS MADE BY BILL FAIR TO APPROVE THE MINUTES OF THE JULY
2.2003 HRA MEETING. DARRIN LAHR SECONDED THE MOTION. MOTION
CARRIED UNANIMOUSLY.
3. Consideration of adding or removing items from the agenda.
None
4.
Consent Agenda.
None
5. Consideration to adopt a resolution amending the Contract for Private Development by and
between the HRA. Citv. and Twin City Die Castings.
Ollie Koropchak. Executive Director, advised the HRA of a request by TCDC to reduce the
number of permanent full-time jobs stated in the original contract. She also noted that the
total annual payroll \vould actually be greater than it would have been previously. Koropchak
recommended approval of the amendment.
There was no further discussion.
A MOTION WAS MADE BY BILL FAIR TO ADOPT A RESOLUTION AMENDING
THE JOB AND WAGE GOAL REQUIREMENT WITHIN THE CONTRACT FOR
PRIVATE DEVELOPMENT BY AND BETWEEN THE I-IRA. THE CITY. AND TCDC
FROtvl 85 FULL.TIME NEW JOBS TO 42 FULL-TIME NEW JOBS AT AN AVERAGE
RATE OF $18.40, EXCLUSIVE OF BENEFITS. DAN FRIE SECONDED THE MOTION.
Tht:rc was further discussion by Andrews if there were any Federal guidelines that needed to
be met in regard to the required number of jobs and Koropchak advised no Federal
guidelines. but Green Acres. She further advised that at least a certain percent of the jobs had
to pay 160% of the Federal wages and TCDCs wages are far above that. There was no
further discussion. MOTION CARRIED UNANIMOUSLY.
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HRA I"vlinutes - 08/06/03
6.
Consideration to authorize enterinQ into a PreliminarY Develooment Allreement with
Master's Fifth Avenue for Phase II of Landmark Square.
Koropchak advised that they had met with the developer on several occasions to discuss
utilities and parking, as well as the possible reduction of 2 units along 3r<l Street. The HRA
was provided ,vith proposed sketch plans for phase 2 of the project.
Brad Johnson provided an updated concept plan stating they are now pursuing the second
phase and that their initial plan had been to privately acquire proposed space. which they feel
they have accomplished. They are proposing a 2 unit duplex with a rental unit above and the
others would be single family, for sale units. They have some concerns with placing garages
where the rental units are. There are also some utility issues that they are working with the
city on. as \vell as power poles in the middle of the alley. They are checking with Exel on
possible relocation of one of the poles.
Johnson advised that they are proposingl2 tol6 units, 12 are shO\vn on the concept plan.
They are asking for reimbursement for part of the cost. to the point that the cost of the land
makes the project work. similar to the Hans Hagen development. They are working on
increased parking area as well. Johnson provided a summary of the proposed costs and
Koropcbak advised that funding would be up-front. if approved. Johnson advised their
request is for the HRA to consider TIF assistance as well as assisting with site development
costs. He further advised that the lots may be sold to a local builder as there is no margin for
them to be the builder. They would sponsor. finance, and design. Johnson clarified that they
are looking to acquire property, demolish. and prepare the site to sell to a builder to construct.
There was discussion on the proposed units in the back and Johnson stated that this was their
proposal in order to get more units. although they would considcr giving that up. He further
stated they necd approx. 4 additional parking spots for Landmark Square. They've spoken to
John Simola. who has been helpful as well. There ,viII be two parking spots pcr unit with
double car garages for each unit. as well as parking on-street.
Korpchak advised the HRA that she had prcviously askcd Barry Fluth if he \vas ready to enter
into an agreement and at that time they asked her to run numbers. Koropchak did an
assumption ''lith a duplex. row homes and apartments. She advised a concern with up-front
tinancing in that construction dates and completion dates need to be accurate in order to
recover the costs. She stated she was conscrvative when tiguring tbe numbers and advised
that the propt:rties will be brought back in at today's ,-alue, which does not help in this case.
She came up with approx. $250.000 for TIF assistance. but when using upfront financing.
they haw to look at net prest:nt value. The HRA would need to retinance a temporary bond
next year. using 6.5~() interest. which amounts to a TIF assistance of $150.000. She also
mentioned to the HRA that they have helped with public improvements on previous projects.
which is an option for the HRA as well.
There 'vas discussion ''lbether the HRA ,vas in favor of the proposed project and felt it
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HRA Minutes - 08/06/03
would be manageable. and if so. they should enter into the agreement. There was concern on
whether the project could stay on track and meet the deadlines. Johnson advised that
they would be willing to sign an assessment agreement, which Koropchak concurred with,
and Johnson advised that if they did not meet a deadline. they would be responsible for the
costs. Koropchak questioned Johnson how it would work with the city giving them the
assistance up-front and they then sell to a builder. Rick W olfsteller also advised that if they
entered into an assessment agreement, each homeowner would need to be aware of the
agreement in case of default as they would then be liable for the tax deficiency. Johnson also
added that they could provide a letter of credit if desired. It was further stated that any
up front money has to be paid to the developer by July 2004. The HRA felt this was meeting
the goals of the downtown redevelopment plan.
A MOTION WAS MADE BY DAN FRIE TO AUTHORIZE ENTERING INTO A
PRELIMfNARY DEVELOPMENT AGREEMENT WITH MASTER'S FIFTH AVENUE
FOR PHASE II OF LANDMARK SQUARE AND A DEPOSIT AMOUNT OF $3.008.00.
DARRIN LAHR SECONDED THE MOTION. MOTION CARRIED UNANIMOUSL Y.
7.
Continued - Consideration to hear updates:
A. Redevelopment of a portion of Block 51.
Pat Sawatzke advised the HRA that he signed a purchase agreement with the owner of the
property next to his and is hoping to close in several months. He further stated that if all
things go as planned. they hope to begin the project in the spring of 2005. He is still
proposing the project he presented previously. Koropchak advised him that if he closes on
the property and doesn't come back to the HRA until 2005, perhaps the project may not meet
the but-for test in establishment of a new TIF district. They discussed the potential problem
of finding eligible costs for reimbursement. Koropchak stated she will research this with the
HRA's attorney and advise Sawatzke. if the land is already purchased.
B. Redevelopment of a portion of Block 37 (request for TIF assistance).
Koropchak advised that Holthaus did not feel that the project would move forward.
C. Discussion relative to the temporarY T1F District 1-22 Bond.
Koropchak ad\'ised that the liRA would need to retinance temporary bonds by next year.
Possibly if there is a proposed plan. ~lark Ruff could be of assistance. Dan Frie asked what
thc uses are for that bond and if the HRA could use it to acquire properties in that district. and
Koropchak statcd they could. They further discussed that if they choose to do this. they
would become the developer. It was also advised that if they \vere acquiring property \vith no
projects. there would be no income. Thcy stated some possible options such as rentals or
restaurants. Koropchak also noted some options for public improvements such as parking.
The HR/\. felt touring TIF District 1-22 would be beneticial and they decided to meet at
6:00 p.m.. Wednesday. September 3. which is their next meeting. Fair adviscd he would like
a map of the district prior to the mceting.
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HRA Minutes - 08/06/03
D. Phase I. II. and III design concept for a portion of Block 52.
Fred Katter provided an update stating they are continuing to move forward with 2
developers on their concept plan. again advising that one developer is out-state with a focus
on retaiL the other developer is more local with a primary focus on residential. They are not
yet beyond the SO/50 point with them. Katter advised that they are still trying to detine the
retail portion of the project and feel they are several weeks out at this point. He feels that a
month from now they will be able to state who the retail component is, and also advised that
this would significantly change the site plan as their needs are much different than what they
had previously thought. This also may reduce the amount of under deck parking. They do
not feel that this alters the TIF fund and are not concerned with meeting the schedule for TIF.
They hope to see plans in approx. 10 days and they will be back for the September HRA
meeting.
8. Consideration to authorize pavment of HRA bills.
9.
A MOTION WAS MADE BY BILL FAIR TO AUTHORIZE PAYMENT OF THE HRA
BILLS. DAN FRIE SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY.
Consideration of Executive Director's Report.
Koropchak gave her report and added that she had mailed a check to Standard Iron for their
adjustment with the county. UMC is proposing to move in on 8/23103.
CMHP has 2 closings scheduled. last house is not yet sold, waiting for approvals. Chuck
VanHeel has not yet signed the paperwork. he's been out of town. Wolfsteller advised
Koropchak that within that agreement there was not a date outlined. although indirectly it did
state 8/1103 as a payment date. roc is asking the HRA to consider a matching fund with the
city for future industrial land. Steve Andrews suggested prorating the I.IRA' s amount to
match the city's. An amount of $100,000 was agreed upon. although if the city reduces their
amount the HRA "viII prorate.
10.
Committee Reports. None
II.
Other Business. None
12.
;:-\diournment.
:\ MOTION \VAS MADE BY BILL FAIR TO ADJOURN THE MEETING AT 7:25 P.iVl.
STEVE ANDREWS SECONDED THE MOTION. rvlOTION CARRIED.
HRA Chair
Recorder
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4A.
H RA Agenda - 9103/03
Consideration to approve the Certificate of Completion for UMC.
A. Reference and Background:
This is a housekeeping item. TIF District No. 1-31 was created to assist Ultra Machining
Company (UMC) with land write-down. As part of the Contract for Privatc
Dcvc10pment, the minimum improvements were initially scheduled for complction by
July 1,2003. Thc Contract was modificd at thc Junc 2003 lIRA meeting extending thc
complction datc to September 1,2003. Attached is a copy of the Certificate of Occupancy
issued by the Building OiIicial dated August 21, 2003.
B. Alternative Action:
I. A motion to approve the Certi1icate of Completion for UMC.
2. A motion to deny approval of the Certificate of Completion for UMC.
C. Recommendation:
'rhe recommendation is Alternativc 1.
D.
Supporting Data:
Certificate of Completion and Certiiicate of Occupancy.
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CERTIFICATE OF COMPLETION
The undersigned hereby certifies that Terrance & Mary Tomann Family Limited Partnership
(the "Developer") has fully complied with its obligations under Articles III and IV of that document
titkd "Contract for Private Development," dated ,2002 among the City of
Monticello, Minnesota, the Housing and Redevelopment Authority in and for the City of
Monticello, Minnesota and the Developer, with respect to construction of the Minimum
Improvements on the property described in Exhibit A thereto in accordance with the Construction
Plans. and that the Developer is released and forever discharged from its obligations to construct of
the Minimum Improvements under Articles III and IV.
Dated:
,200_.
HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE
CITY OF MONTICELLO, MINNESOTA
By
I ts Chair
By
Its Executive Director
STATE OF MINNESOTA )
) SS.
COUNTY OF WRIGHT )
The foregoing instrument was acknowledged before me this _ day of ,20_.
by and .the Chair and Executive Director of the
I-lousing and Redevelopment Authority in and for the City of Monticello. Minnesota, on behalf of
the Authority.
Notary Public
TillS DOCUMENT DRAFTED BY:
Kennedy & Graven, Chartered
470 Pillsbury Center
:WO South Sixth Street
Minneapolis, Minnesota 55402
(612) 337-9300
J,",P-21637Jvl
MN IIJO.llllI
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HRA Agenda - 9/()3/03
5.
Consideration to review revised concept tlesign, reQuested TI F assistance, and TIF
cash flow projections for Phase II of Landmark Square and to authorize HRA
Attorney to be2:in drafting the Redevelopment Contract.
A. Reference and haek2:round:
Staff reviewed a revised concept design for Landmark Square Phase JI on August 27. Of
the two concepts, staff liked the concept with unit separations which allows access points
for utilities: I duplex (2 units) and 9 row houses. They had several concerns and
requested revisions for circulation. movement, turning, etc. Questions: what is plan 1'01'
garbage pick-up, plan would allow no parking outside garage door, front steps still in
right-away, is area between unit and garage - green space, where is ponding.
Detennine tax increment generated by proiect
Based on the revision which reduced the number of housing units by one and deleted the
carriage house, Brad Johnson and myself ran TIF cashflows as a starting point tar
negotiations. Brad - $20,846 annually and Ollie - $15,992 annually. I question the
selling price of all the row house units at $180,000, particularly, those with 2 bedrooms.
With the signed agreement and deposit, I've asked Ehlers to ran TI F cashtlow numbers
and will ask Bubul how to structure the contract if FIuth sells the site to a builder. Once
Ehlers projects the cashtlows, this will determine the tax increment generated hom the
project.
Determine "but for" test and gap
In addition to Brad's cash flow numbers, he has provided a draft copy of a uses and
sources statemcnt. U sing his projections, he shows a gap of $147,000, However, please
note he has not followed through with cost of construction and unit selling price to
determine a rate of return. Typically, the J-IRA has used a pro J'{mna for housing projects
except for Front Street. The front Street project was a targeted area identificd by
citizens and HRA as unsafe and substandard. The preservation ofthe parkland was
identified in the Comp Plan and North Anchor and is a public purpose, Replacement of
the outdated utilities in Front Street was a planned city maintenance project. The un-
spent balance ofTIF District No. 1-22 as being prepared by Ehlers will detenninc the
availability for gap dollars,
B. Alternative Aetinn:
1. A motion authorizing the I IRA to begin drafting of the Contract 1'01' Private
Redevelopment for Landmark Square Phase II.
H RA Agenda - 9/03/03
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c.
Re'commendation:
The City Administrator and Executive Director recommend alternative no. I, Bubul can
assist with further negotiations of the gap funding and structure of the proposed deal.
D. Supporting Data:
TI F Cashflows and uses/sources by Johnson and runs by Koropchak.
Hhlers cashtlows presented at meeting.
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LANDMARK SQUARE II HOUSING
MONTICELLO, MN
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ACQUISITION COSTS
SQUARE FEET COST
__.....108~L-L.-145.000.00
10890 $ 155,000.00
.-10890-- $-147,600.00
~~70_~,-~7,000.00
COST/SQ.FT.
$ 13.31
_.~,~-,,,,~.,,,.
$ 14.23
$--13.50
$ 13.68
Site A Berquist
---s'OISon---------------
-'.CMoores--------.-----
TOTAL ACQUISITION------
_.,'_._,.,._,-",._"'-,..,~.,'~.,._"~'-~..
._."..~..,,-_.,,~ -_.",.._."",~,,-
Demolition.----..-----..---
Utilititis-andsite wO~----'------"
Misc. soft costs - ArchitecfEngineer, etc.-- ---
Contingency -.-------..----
TOT~--------.-----
32670
$ _15,009.00-
$ 105,000.00
- $ __ ." ~o,boo.oo.
$ 30,000.00
$__687,000.00 $
21.03
.,~.,"--",._-"_.,"~""'-,._...,-_._-
.--.,,--' ~...._"...,._.",--"".- ,-"-"",,,-,,--,,"'-"""-". .-~."_..,,._~ --",--",,,--,,,"--"
Sources (11 units).--.-------
PropoSed HRA participation present value----
Tax increment current val'lIe at 4.5%lnterest - .-----
._ _m (~2b.3_<t8ovElr17 years) ($280,887 -fai~ v-aluef~'
HRA public improvement assistance for utilities & parking (GAP)
Units purchased by Deveioper 11 @$24,OOO----
TOTAL SOORCES-----------
-"~-
-e-V1::V\1e- V OS
.'~--_.
$ 234.872.00
$- 264,000.00
~___~87!900.Q9
.,,,.,,-~,--"',..~..-_.,',....---',".~..,--""--"..,~"'._"-
Estimated Tax Increm~'--'-..-.-----"--
Redeveloped value ~ estimate-$176.000/unit --- ------
Potentia" tax ~pacity @1-.40%~~--==_=.- =--=-=
. $:i. 046,006. 00
, $ ". 28:560..00
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Adjusted taxcapadty @ 1.12%------.,
Less current base estimate--'----- - .
,_.~~_.......---"'---.---------..,~~""_..-----------...--~
TOTAL
^,-.,.-..,.-...--..,--",..-"'.
$
$
$
22,848.00
_."._.,._.,_..,.._n'_'""
(2.500.00)
"_?0.348.00-~
........--------'~~"-,---.--------"-,.-._.~,.,'-~"~"'~"'_.,.""'-"
Hagen River front transaction
10 lots at $30.000 per~-----"---' ---.----
Sa.le priCe $230'-000 ~."Iot if; 13%_.of ~Ie pr!ce. ._=:====.
.,.__,r~_~.
.L. 300.000:00
MONTICELLO DEVELOPER INFORMATION
Land co~t per ~cre~ Gree~field==-==-_=--$' 60:000.bo 1.38 per sq. ft. .. -..
Site developiTl.ent per U~I( - M~lti-fa':lilY===_ $
._~,.,.,~.,,,,,-_.,,--,"-_.'--
1 0,000.00
...,.-.,,'--....--..-
.---,,~"_.._."'_.~-~
Land cost 10 u~its per acrEl____=__~~==--L:-6.006.po==.=-"
,._~__,',_~._.__J~
Total.per ur,11t~=~__==--===-- $
16.000.00
.,._"".~,._.,~."'._'.'-'
Lot seilin9 _price per un_jOt to ~uilder:- Greenfield"=-
Units sell at say $170,000 each .__H_-
UniUlot ; 17%"of unitvalue-"--.-----
$=__28.0QO.OO
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Page 1
LANMARKSQIIHOUSING9.03_03Acquisition Costs
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Aut 26 03 03:05p T. Ulku
AUG 07 '03 12:09PM CITY or MONTICELLO
S52 S06 9400
p.2
P.c/~
LANDMAJU( SQ'UARE PHASE n
ESTIMATED TIF PROJECTIONS
August 2003
ASSUMPTIONS;
Two duplex @ selling price of $150,000 each
Eight Row houses@ selling price of $170,000 each
Two carriage house rental with garage 650 sq ft J'ent $600 pel" month
Class rate 1.0% residential owner occupied
Class rate 1.25% apal1ment
Tax Rate 1.12618-
II cr
t. .... units (2-duplex and.i'Tow homes) construction beginl,il'lg 2003 - com)))eted July 2004.
100% assessed vtllue Jan 2005.j>ayable 2006. uJi"7li 4c:&A~ ~fZ4 - - ~
a'*'~oo.s .." (}f ~ I
2,--f'j't <luit:. (5 nJW ),umcli) CQllSU'uctton beginning 2004 and completed July 20U':), .tO~o
:ll::<:""'<'q"Q 1th. 26G6, lJcI-)"dble ~Ov I,
3. 2 caniage house apartments with garages.. completed July 2006, 100% assessed Jan 2007.
payable 2008. .... J. (7'Q
1 R~ ..~.'" (i!) . ~ a ,a" rr ~ ,.~.. , T, ~l S e. 0...
,~~l @ $~OO X 95% =: $142.500 ...~..h ... "".'liUll Q..6...
, row homes @ $+-18.966 X9S% -!JdJ,:)uU each '1 I JO'COcz.o.
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PROJECT LOG
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hAN.o m~~( 29 it- '"2-
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. Date: ___,_~ Comm. No. n. ,.,
File Section _
Page ____ of _
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ASSUMPTIONS:
LANDMARK SQUARE PHASE II
ESTIMATF:n TIF PROJECTIONS
August 2003
One duplex - one unit owner-occupied C4? selling price of $175,000,000
and second unit rental valued (ij) $150,000
Nine Row I-Iouses(cf,! selling price 01'$180,000 each
Class rate 1.0% residential owner occupied
Tax Rate 1.12618
Duplex G,l; $175,000 X 95%= $] 66,250 EMV =
Duplex (a; $150,000 X 95% = $142,500
9 row homes (({! $180,000 X 95%0 $171,000 each
$1,662.50 'rc
$1,425.00 TC
$1,710.00 TC per unit
Assessment Agreement - Minimum estimated market value total $1,847,750 January 1,2005,
payable 2006. Tax Increment Guarantee.
Total TC =
Base Te =
Captured TC
T ax Rate
TI
-Adm
TI Available
X 17 years
$18,477
$ 2,699
$15,778
1.12618
$17,768 Annual
$ ],776
$15,9<)2 Annual
$271,864
17 years 6.5% (98.91) = $15,825 annual debt service on $160,000 Bond.
17 years 5% (88.70) ,,", $15,966 annual debt service on $180,000 Bond.
5
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HRA Agenda - 9/03/03
6.
. Continued - Consideration to hear updates:
A. Redevelopment of a portion of Block 51.
In checking with our financial consultant if a parcel has been purchased and Jinanced
prior to establishment of a TIF District, the acquisition costs would not qualify as an
eligible TIF expenditure. 'fhis information was given to Sawatzke.
B. Phase I, II, and III design concept for a portion of Block 52.
I did pass on a large retail user lead (minimum 12,000 sq it) to Steve Johnson which
would be a good mix for the downtown area. I contacted John Wittek to get un update on
the Market Study prepared and submitted to the 20,000 national retail user mentioned at
the liRA meeting. Wittek expected an answer the end of August and also informed me
the user was reassessing the metro area market. In conversation with Johnson, he
reported he is no longer actively working with Wittek. Johnson said he'd have an update
for the HRA. I stressed the importance of a revised concept plan. I'm unable to reach
Pred Katter.
C. Estimated balance of Temporarv TIF District No. 1-22 Bond.
I've requested Mark Ruff estimate the unspent balance of the Temporary Bonds, suggest
eligible expenditures for the HRA without a Block 52 project, and to project 25% pooling
rule (25% of the tax increment generated from a district may be spent outside the district)
or after July 2004.
Revenues and Other Financing Sources (OFSs)
24 Tax ilH;rcment rev.:nlle
25, Int.:rcst on in\est.:d t"L1nus
26 Bond prl)Cceds
27, Ll1an ["Il"lleecJs
28. Special aSScSSll1ents
2') Salesik~lse ["Iroc<.:cds
30, L()~lniad\anc:': rcraymcnt$
31. Gmnts
32..\ Other Local Contribution
32.8 TIF Application Fee
32C Otl1<:r :-\ddition,t1 TIF Fl:'::s
32D Lo,m Schlief do\\npay nlcnt
32E Other
32F Other (describe here)
32.G Other (ckscribe here)
31,H Other (describe here)
--.---..- - . -.-- -.. --._.".__._----".~.
33. Tmnskrs in (from line 65)
34. Total Revenue and OFSs
Expenditures and Other Financing Uses (OFUs)
J-
. !
J..
I
. --==l-'.--
----.-r- -'.'
...--T.-----
- -- -\---- - -
--~~r-
uperatmg ~tatement
A. I B.
Origin.ll TIF-Plan :CLlmlllativ.; tvlodil'ic:u
i TIF-Plan 1311d~c:t
I
i
$39.noo.Ooo
SO
SO
SO
SO
SO
SO
SO
SO
SO
SO
SO
SO
C.
Accountc:d 1'01' in
Prior Years
S335.368
?~'!>
D.
2002 Amount
S 187.280
S60.000
SO
SO
SO
$297.352
SO
$l)
SO
$5.000
SO
SO
SO
SO
SO
$0
---- ---~.._.-
$78.000
$627_631
:
I
I
I
,
.,
$E405
S2_15QOOO
556.468
SO
S 15.880
SO i
~,- ,
SO i SO '
S950.000 i~ -. $0 ,
SO !_ SO i
SOl 50
SO i $0 -1- ------
$0 i'~-- 5_6_1'_--'_"'_-.-.'
-.-.1----.--- - -
so : $0 I
so - ;--..-..----- -- so-I-u----
...1__"___'_'_' _.._....L_______..
~~ 1------- :.~ .!--..
$39.950.000 $0 I
$0
SO
SO
S IS.OOO
$4.717
S:W.674
SO
SO
SO
$0
$0
S2.M3.512 '1
$10.154
$61.737
$33.1151
S22.676
SO I
1>1.158.441
$1.485.071
___~. Land/buddm~_acq~~sltlo~~. I $4.275~~~~ $_? _1_ _.-__~62~34~..J__. $5~..26?
_36_S":'mp''''m""''~p,,p''-'''''''- '''''--~!___--'4-27.'-001- _ _'0 I __ 'O_~I _ '--y_l~4.45~
. __3!~!~s~~_la~<:.n_3~j:I~I_i~_ull~I~les .________-.J___~~?~~.~~~ _ ~?..I $16:~~1_ ___$..2?812_
38. Parkmg facdlties I $4.275.000 $0 I SO $0
-r :~~~;~:~l~[~;~~~:- _u -- ---.:~~ ~~~-E----==-~~H------=~ ~f
-4T"--s~;-,~: ,;;,;";,"~l ",- w,r;;;:;" '"lIit;" ----'~---:,;B- $270_000C----,O-
--i~~::'f?~~~r~~~~-- - - -j -- --~={:-I -=~i:1~-- - -- =~:=r--~~~7~~~
________..._____. ,. __.___.___...._~,_____I -.- ----I __j_______L___.__ ...
_-=-~ Lo~~Xrin~!pal ?a~~~_________..____ ~,_______~O~ _____~~r-~---$O. \________~~_
-- _:~:.~~:~{~~~~~.~~::;;:~~sent~----~-.-~ ---- --~~H-~~:~~.~--.- -.--~-~.-1-~-.---$86~7~~' -1-..- $22. I ~~
{~~~:;~::~~:;~:c;:~;::%~z=_-=--= . .==~";O~~~- ~:~-=-=__~~F"':~--$i::~~ I --___~:~
48.C Other Property Tax $0 SO $4.885 $2.229
~-_.,--- - -. -,----~-".~- .._,._--~
48.D BBFProject I interest $0 $0 $25A58
-- .,&,' ","-'~---
48,E Other Schlief cfd payment $0 $0
48_F Other Hawkins loan payments $0 $0
48.G Bond Closing/Paying Ag<:nt Fee $0 $0
48H Schlief Loan $0 $0
49, Transfers out (from line h9) $0 SO
50. Total E.xpenditures and Of Us $39.lJjO.OOO $0
51. Revenues Over (Under) Expenditures SO $0
. 52. Fund B;llance - 12/JI/2ll01
53. Fund Balance - 12/3112002
Tlf District Nallle: Tax Increment Financing District No. 1-12
,>~.\ t'-\
'\S .~(!)O
$11_574
$1.863
$0
$374
$0
$0
$350.446
$277.18h
$1.485.ll71
$1.762.257
2002 TI F District Report - Page J
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Monticello HRA
505 Walnut Avenue, Suite 1
Monticello, MN 55362
August 10,2003
MC100~01
General
Invoice # 21144
Professional Services
7/9/2003 MTR Payg for reporting
7/10/2003 MTR payg for reporting
7/14/2003 MTR Discussions with Ollie
7/29/2003 MTR Redo std iron and martin runs
Total Due This Month:
Status of Account:
Current
$406.25
30 Days
$0.00
60 Days
$0.00
90 Days 120+ Days
$0.00 $0.00
Hours Amount
1.50 187.50
1.00 125.00
0.25 31.25
0.50 62.50
3.25 $406.25
Total
$406.25
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Ul1 AUG 1 1 2003 l1lJ
CITY OF MONTICELLO
.
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
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HRA Agenda - 9/3/03
8.
Economic Development Report:
a) UMC received its occupancy permit on August 21 and moved in over the weekend.
You will be receiving an Open House Invitation from UMC for the week of October 6.
The last payment request for the $290,000 loan to UMC was made last week. The
general contractor is having a professional photograph taken of the finished product, we
can share for promotional use.
b) TCDC - All modifications to loans and TIF agreements are complete. lob requirement
was reduced from 85 to 42. The annual total wage level is greater due to the required
skills necessary for the robotic machines. Progress report due September 30.
c) Aroplax - Again tried to set up a BRE visit. No luck.
d) Olson General Contractors - Called Ed Sorgatz to encourage a next Monticello/Olson
projcct. Olson has completed two projects in Monticello: TCDC and UMC. Ed agreed
and suggested a meeting between Weinard, O'Neill, Koropchak, and himselffl)f ajoint
marketing eiTort.
e) Long shot - I wrote a letter to a company who makes drug-coated stents. I read in a
Journal, they were looking to build between a 100,000 to 300,000 sq ft manufacturing
facility near their Maple Grove 011ice. Would be nice mix with UMC.
t) Big Lake - ] lad lunch with Jim Thares last week. They have three industrial projects to
break ground this fall. Have couple of city lots left. The City does not plan to purchase
additional land for industrial development. They plan to enter into a marketing
agreement with the owner/developer for exclusive rights to market 40 acres of the
approximate 200 acres.
f) TDS Telecom - Scheduled to tour TDS (their expanded facility) with Noel Labine,
Wright County Partnership Director, and Tom Ollig on August 26.
g) Marketing Subcommittee met August 22. The City will participate in the Wright
County Partnership Golf Outing, September 25. We will be a Gold sponsor for $300
dollars which entitles us to name and logo on programs, honorable mention, hole
presentation, recognition at banquet, and allowed two players. Promotional Items:
Brochures, $1,000 reward for successful industrial lead with at least 10 full-time
employees, tees and towels, and chance at $50 cash (bean bag throw). City Economic
Development Web site upclated. Development of Site Location Brochure in progress.
The Subcommittee agreed to not participate in the Chamber Showcase this year. Felt the
Showcase attendees were not their market.
h) Production Stamping - Welcome plaque ready in my office. Les Wurm says he'll call
me when they have time. Too busy right now for Open House.
i) Industrial leads:
Large grocer distribution center - 30-100 acres. 25-30 employees. Monticello on list of
final three locations. Visit September 8, lead through MNTED. (Chadwick parcel)
40,000-55,000 sq ft distributer (10,000 sq ft for Crozen food). Prefer lease. Need 24 to
clear ceiling. St Cloud company fishing around. Talk with Duane Schulz, he doing bid
on renovation of building in Sauk Rapids. They currently lease in Waite Park from
HRA Agenda - 9/3103
.
Miller Construction - have a sweet deal plus expansion options. 35 employees now.
50,000 sq ft (20ft ceiling height) Building materials marketing company looking to start
a manufacturing facility in the lJS. Now manufacturcd in Winnipeg, 75% sales in lJS.
I,ooking to lease or purchase existing building.
6,000-10,000 sq ft. Steel fabrication. 7 jobs - average $20.00 per hour. Looking to
purchase.
The H- Window and Remmele buildings have three showings scheduled.
j) Received payment of tax increment deficiency and executed documents from Chuck
Van Heel.
k) Semi-annual Aug 1 tax incremcnt payment to Standard Iron was reduced to account for
deceased market value on property for payable 2002 and 2003.
1) The HRA committed $100,000 toward industrial land purchase for 2004 or equal to the
amount of the City. The City's match of$100,000 is part of the 2004 City Budget. first
budget meeting August 25.
m) County Auditor has been requested to remove and add-in ccrtain parcels within TIF
District No. 1-22 for payable 2004. This part of managing thc four~year knock down
rule.
n) Lctter from County letter: Noted $400 charge for establishment of new TlF District.
HRA may need to discuss increasing the $5,000 deposit or continue to bill the difference.
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August 11. 2003
MONTICELLO
Mr. Paul Dono\'an
Vice President of Communications
Boston Scicnti tic Corporation
1 Boston Scientific Place
Natick. MA 01760
RE: Site Search for manut~lcturing plant in Minnesota,
Dear ML Donovan:
Upon reading the most recent edition of The Business Journal, I sa\v that Boston Scienti fic was
conducting a sitc search for a proposed 100.000 to 300.000 square foot manufacturing facility.
Yes. I did note th~ article stated "seeking a site near its Maple Grove oftice tacility:'
Don't stop here - what does the City oOvlonticello have to offer Boston Scientitic and its
employees? Monticello is located along 1-94 just 20-25 minutes nortlnvest of your Weava Lake
Road office facility. It's 1 00 square~mile school district has a population of 18.000 and the city
has population of nearly 10.000, Our housing permit trend has an annual average of 250
permits. Seven housing sub-divisions recently received approval \vhich will add another I. I 35
units, This demonstrates housing options for Boston Scientific employees, The l'vlonticello
Community Center. the Mississippi River. 19 city parks. pathways. numerous soccer and
softball/baseball fields. and golf courses provide residents with many' recreational opportunities.
The Monticdlo/Big Lake Hospital is currently in its second ~xpansion in three years and a new
state-of.the-art high school was complet~d in 1999. Two market-rate independent senior
housing facilities. one assisted-li\'ing tacility with memory-loss units. and a nursing home
provide alternative li\ing choices for 100ed ones of your employees,
The City continues to work with de\'elopers on downtown redevelopment and big bo:\ retail
dewll)pments, Currently. the city. a developer. and the Minnesota Departml'nt of Transportation
arc re\iewing plans and funding for a new 1-94 interchange at County Road I S, This is being
dri\'el1 by a planned retail development. This proposed interchange will add a second access to
the \Ionticello Commerce Center. an industrial park, This proposed intersection would give
Boston Scientitic a direct access to its \Iaple Gwve Office, Ultra iVlachining Company (l'\IC).
which manubcturers medical instruments and devices. will move into their ne\V 70.000 square
foot office/manulaeturing facility located in the Monticello Commerce Center ne\:t month. At
kast -1-0 acres of industrial/business campus land remains in the iYlonticello Commence Center.
Monticello City Hall. 505 Walnut Street. Suite I. Monticello. MN 55362-8831' (763) 295-2711' Fax: (763) 295-4404
Oftice of Public Works. 909 Golf Course Rd.. Monticello. MN 55362 . (763) 295-3170 . Fax: (763) 271-3272
.
Mr. Donovan
August I. 2003
Page 2
an ideal site for your manufacturing tacility. Why not offer your employees a place to call home
without tratTic congestion and the friendliness and pride of a small-tow'n community? Just giw
me a call at 763-271-3208 for a tour of Monticello and its industrial sites.
Lastly. the City of Monticello has been successful at securing grants from the State of Minncsota
for industrial use. Additionally. vve otTer Tax Increment Financing and a below'-prime interest
rate loan program for real estate development or machinery/equipment purchase to qualit~'ing
businesses.
Paul. should you not be the site selection person for Boston Scientific. please forward this
information to the appropriate pcrson within your corporation. I look fOr\vard to hearing from
Boston Scientific. (763-271-3208 or ollie.koropchak@,ci.monticello.mn.lls).
With \varm regards.
CITY OF MONTICELLO
.
G~ \~tS1~Q&~
Ollie Koropchak
Economic Development Director
Enclosures
c: Bruce Thielen. Mayor
Rick W olfsteller. Administrator
Industrial File
.
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2759
J.A.C. DEVELOPMENT, LLC
20600 County Road 81
Rogers, MN 55374-9567
(763) 428.4466
U.S, BANK NATIONAL
ASSOCIATION
CIRCLE PINES, MN 55014-4499
75-1522/910
08/11/2003
PAY TO THE
ORDER OF
Monticello \-IRA
I $ **18,795.00
Eighteen Thousand Seven \-Iundred Ninety.Five and OO/lOO***********************************************U*****************
DOLLARS A j:r~":!1
l..'J ';;'f"
Monticello \-IRA
Attn: Ollie Koropchak
505 Walnut Street, Ste 1
Monticello, lVfN 55362 '
de ""enoyp,yme", '\l:~ D,'."t N~Q...~~a-c4--f ~
II' 0 0 2 7 5 q II' I: 0 q ~ 0 ~ 5 2 2 ~ I: 8 ~ 8 ~ 0 ~ q l lll'
MEMO
.
2760
J.A.C. DEVELOPMENT, LLC
20600 County Road 81
Rogers, MN 55374-9567
(763) 428-4466
U,S, BANK NATIONAL
ASSOCIATION
CIRCLE PINES, MN 55014-4499
75-1522/910
----D.81l11?0nl
PAY TO THE
ORDER OF
Monticello BRA
1$
** I ,500.00
One Thousand Five Hundred and OO/lQO*********~.!!'!!!**************************************************************'OOLLARS &J @~('
.~ \~'V~.;t_j" 1 ~
1I~?bOIl' I:O~'ct.~I: a..Ef'. lO..<B
tr'-.. ,\;c-<y. "Q.A...l( ~
Monticello l:lRA
Attn: Ollie Koropchak
505 Walnut Street, Ste I
Monticello, MN 55362
tYJMk~U
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August 6, 2003
MONTICELLO
Demeules Family Limited Partnership
207 Dundas Road
Monticello, MN 55362
RE: August I, 2003 Semi-Annual TIF Payment
Dear Demeules Family:
This letter of explanation accompanies your August 1, 2003, semi-annual TIF payment. The TIF
payment has been adjusted as the BRA and City were notified by the Office of the Wright
County Auditor to the amount of the abated tax increment for Standard Iron for payable 2002 and
2003. The last tax increment payment from the Monticello HRA to the Demeules Family is due
...- February 1,2004 per the Contract for Private Redevelopment.
Should YOll have any questions, please call me at 763-271-3208.
Sincerely,
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO
Ollie Koropchak
Executive Director
c: TIF District No. 1-13 Fi Ie
,.----
Monticello City H,dl, 505 Walnut Street, Suite I, Monticello, MN 55362-8831 . (763) 295-2711 . Fax: (763) 295-4404
Office of Public Works, 909 Golf Course Rei., Monticello, MN 55362 . (763) 295-3170 . Fax: (763) 271-3272
'bY\)
Douglas M. Gruber
Wright County Auditor / Treasurer
Wright County Government Center
10 2nd Street N. W. Room 230
Buffalo, MN 55313-1195
Phone: (763) 682-7578
FAX: (763) 682-7873
'1856
August 21, 2003
Rick W olfsteller
Monticello City Administrator
505 Walnut Street
Suite 1
Monticello MN 55362
Re: New Tax Increment Financing Districts (TIF)
.
Dear Rick:
With the State budget situation and the corresponding effects it has had on Local Government Aids, the
Wright County Board of Commissioners directed each department to look at fees for services that each
department provides.
In doing so, the Auditor/Treasurer Department made a recommendation that we charge a fee for the setup
of any new TIF District. Based on our recommendation which was ratified by the County Board,
effective July 1,2003 any new TIF district will be charged a one time setup fee of $400.00. This fee is
consistent with fees being charged in neighboring Counties.
If you have any questions or concerns regarding this matter, please feel free to contact me.
~CerelY'
" !
~1~ At..JtL
Doug(,(s M. Gruber
Wright County Auditor/Treasurer
DMG:gg
.
Equal Opportunity / Affirmative Action Employer
CITY OF MONTICELLO
ACCOUNTS PAYABLE
505 WALNUT STREET. SUITE 1
MONTICELLO, MN 55362
763-295-2711
DATE
75.1664
--ere-
NO. 73677
MARQUEOTTE BANK. MON'fICEllO . PH 80X 729
MONTICEllO, MINNESOTA 5530~ . (703) 295-2952
CHECK NO. AMOUNT
08/07/2003 73677
SIX THOUSAND THREE HUNDRED SEVENTY AND 26/100 DOLLARS
$6,370.26
PAY TO
THE
ORDER
OF
DEMEULES FAMILY LIMITED PTNSHP
207 DUNDAS ROAD
MONTICELLO MN 55362
(7:':/~:-:';-;;':::',;:(;, ~"'~')- ":';'-2'::-:::,~'::;':~:.t::)
......-....p~ .........j
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~-~'........,~~. -' - ,Y
1110731(;77111 I:O~ ~O .(;(;~71:
7 (; 0 0 0 ~ 7111
VENDOR 000952 DEMEULES FAMILY LIMITED PTNSHP 08/07/2003
CHECK
73677
'\
FUND k_bCCOUNT
P.O.# INVOICE
DESCRIPTION
AMOUNT
213.46513.6511
AUG 03
6,370.26
TOTAL
6,370.26
.
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CITY OF MONTICEllO' MONTICELLO, MN 55362