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HRA Agenda 03-03-2004 . AGENDA MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Wednesday, March 3,2004 - 6:00 p.m. 505 Walnut Street - Bridge Room Commissioners: Chair Steve Andrews, Vice Chair Bill Fair, Oarrin Lahr, Dan Frie, and Brad Barger. Council Liaison: Roger Carlson. Staff: Rick Wolfsteller, Ollie Koropehak, and Angela Schumann. Guests: Brad Johnson, Lotus Realty Services Bob Cunningham, Told Development Company and Steve Johnson I. 2. 3. 4. . 5. Call to Order. Consideration to approve the February 4, 2004 HRA minutes. Consideration of adding or removing items from the agenda. Consent Agenda. Continued - Consideration to approve changes to the Contract for Private Redevelopment between Masters Fifth Avenue and the HRA for Landmark Square Phase II. 6. Continued - Consideration to hear an update on redevelopment of Block 52. ^. Consideration to authorize entering into a Preliminary Development Agreement with Told Development Company. 8. Consideration to discuss and define terms and conditions of Letter oflntent from Told Development Company for purchase of HRA parcel located in Block 52. 7. Consideration to authorize payment of IlRA bills. 8. Consideration of Executive Director's Report. 9. Committee Reports. A. Small Industrial Group ~ Frie B. Marketing - Barger and Lahr 10. Other Business. A. April 7,2004, is the annual meeting of the lIRA. II. Adjournment. ...... ... . MINUTES MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Wednesday, February 4th, 2004 - 6:00 p.m. 505 Walnut Street - Bridge Room Commissioners: Chair Steve Andrews, Vice Chair Bill Fair, Brad Barger, Darrin Lahr, and Council Liaison Roger Carlson Dan Frie Ollie Koropehak and Angela Schumann Absent: Staff: 1. Call to Order. Chair Andrews called the meeting to order at 6:00 p.m. and declared a quorum, noting the absence off IRA member Dan Frie ffild City Administrator Rick WolfsteIler. 2. Consideration to apProve the January 7, 2004 HRA minutes. . A MOTION WAS MADE BY FAIR TO APPROVE THE MINUTES OF THE JANUARY 7TH, 2004 HRA MEETfNG. BARGER SECONDED THE MOTION. F AIR AMENDED THE MOTION TO INCLUDE NOTATION OF DA TE CHANGE FROM JANUARY ill, 2003 TO JANUARY ih ,2004. ANDREWS SECONDED THE AMENDED MOTION. MOTION CARRiED UNANIMOUSLY. 3. Consideration of adding or removing items from the agenda. None 4. Consent Agenda. None 5. Consideration to a rove and authorize execution of the Contract Jor Private Redevclo - ment between Masters Fifth A venue and the (-IRA for Landmark S uare Phase 11 hem tabled until Brad Johnson arrived. Upon arriving, Johnson addressed the HRA, indicating that Barry Fluth is still in the process of getting the development agreement into an acceptable form in terms of land use and cost. Fluth did send a letter did to the Mayor and others addressing concerns regarding both the contract and project. Johnson indicated that the language related to the TIF deficiency clause has been resolved to both parties' satisfaction. The resolution would allow a four-year period analysis of tax increments, by which any aggregate deficiencies would be reimbursed to the developer from any overage (if it exists) within that tour-year period. Excess tax increment after reimbursement would apply to pre- payment of principal amount. . . . - - HRA Minutes 02104104 Johnson indicated that one property owner within the development area is seeking to re- negotiate the original purchase agreement terms. Andrews inquired whether Fluth and Johnson would be seeking to use eminent domain: Johnson said that was not a considerations. Fluth and Johnson will try to resolve the issue within the next week. Johnson stated that per lot cost is still an issue for Fluth. He indicated that this may best he addressed by working with statfto develop a solution. Johnson reJerred to Fluth's letter which outlined a variety of options to reduce per lot cost from $36,000 to $30,000, Fair asked Johnson whether he was on the Council agenda to discuss sewer and water access charges. Johnson indicated that discussion would happen with staff hefore proceeding to Council. Fair inquired whether staff has talked with Mark RufT about adjusting the interest rate. Koropochak noted that she had spoken with the RutT months ago on this matter and the HRA made the decision to keep the rate as suggested. A hrief discussion regarding the type of bonds used and the corresponding interest rate commenced, with Johnson noting that GO bonds would he used for this project. Lahr noted that the project seemed to be at a make or break point. Fair indicated that he would like to see the project happen as it is consistent with guide plan for the area. ] Ie expressed that obstaclcs could be overcome in a manner suitable to all partics. Fair recommended that Fluth and Johnson go to the Council on the sewer and watcr access charges. Johnson noted that for thc Hans Hagen project, thc Sewer and water access discussion was internal. Koropchak noted the differences in the two projects, stating that the HRA cash llowed thc project through selling of property and tax increment generated due to the largcr assessment value. Barger clarified that thc issue of site control and costs were still present. Bccause of the change in tax rate, Johnson estimated taxes at $27,000 as compared to $18,000 in tax increment. Barger asked what Council would say. Carlson thinks that council may say that project is far enough along to consider some adjustment. Andrews asked Johnson whether any decision on the part of the HRA was needed that evening. Johnson replied that they were asking the HRA f()f patience as thcy resolved the remaining issucs and to review the Hans Hagen agreement for options in reducing lot costs. Koropchak strcssed that there are major differences in the two projects that make applying the samc conditions difficult. 6. Consideration to hear an update on redevelopment of Block 52. Stcve Johnson introduced Tom Burke of Told Development, who would be addressing the HRA on the progress of a proposed Walgreen's on Block 52. Bob Cunningham is the Told Development representative working on the project, Burke is providing the rcport - 2 - . BRA Minutes 02/04/04 duc to Cunningham being on vacation. Burke indicated that Told had signed a purchase agreement with Steve Johnson to acquire his property. They arc in the process of working with other property owners. Burke presented the HRA with a preliminary offer of $74,000 to purchase the needed HRA property, pending thc finalization of other project details. He also indicated that Cunningham has been rescarching TIF financing options. Andrews asked Burke if the price per square foot on the oiler prcsented to the HRA is consistent with estimated offers on properties for thc rest ofthc project. Burkc stated that the current offer is based on historical purchasc price and is contingent on acquiring aU land necded f()r the projcct. He noted that the per square footage rate provided is not market ratc. . Barger inquired whcther Told had enough property to move forward with only the Johnson and City parcels. Burkc indicated that it was not. Fair asked Burke ifhe is awarc of the TIr deadlincs. Burke stated that Bob Cunningham had spoken with both Mark Ruff and Koropchak on this matter. Koropochak inquired whcther Burkc could have an cstimated timeline for preparing all projcct costs, including acquisition costs. Told Developmcnt will be meeting with landowners this weck. At that point, thcy will have an idea of costs. Koropochak questioncd whether Burke anticipated presenting a package to thc HRA in March. Burkc stated that they would. Andrews inquired whcn Told expected a response on the lot offer. Burke indicated that they would like the information as soon as possible, as it would affect other land acquisition costs. Andrews stated that the HRA would be cognizant of price parity in square footage. He noted that the HRA would necd to evaluate the oifcr and that thcy expect a return commcnsurate with investment. Burke indicated it was just a paper offer. Barger asked if the HRA were to assume that the project would move f()[ward, who would bc the dcveloping parties? Burke stated that Told would be the developer. Lahr asked who would work on layout and acccss? Burke indicated that the client was in town to review the site. Fair inquired whether a public hearing was needed on the sale of the lIRA-owned lot? Koropchak stated that a hearing would be ncedcd and the Wolfstellcr could call for a public hearing date ifneeded. Koropochak asked the I-IRA members if they wantcd to act on the purchase of land without project costs and development agreements. Lahr indicated that the HRA was most comfortable with the schedulc provided by Koropehak. Fair recommended that staff should review the provided land sale offer and provide an opinion to the HRA. Andrews also noted that the ofler would be subject to legal rcview. Koropchak stated that it would also be important to evaluate the project as a total package, with the HRA lot being the final piece of puzzle. Andrews thanked Burke and Johnson for the update. Fair asked Burke if he had any other questions. Burke did not. ., - j - . HRA Minutes 02104104 Barger inquired when construction was expected to begin. Burke noted that with TIF deadlines approaching, they hoped to be in the ground in early summer. Andrews inquired how long the building phase was expected to be. Burke specified approximately 9 months. A. Consideration of offer to purchase the BRA lot on Hlock 52. No motion required at this time. 7. Consideration to discuss need to increase amount ofTIF deposit and authorize action. Koropchak provided the staffrepOli, indicating that at the January lIRA meeting, the commissioners requested the February agenda include a discussion to increase the amount of TIF deposit. This resulted from the agenda item to transfer TIF funds from District No. 1-23 (available tax increment meaning 80% of tax increment collected) to District No. 1-32 for over-run administrative costs associated with non-certified District No. 1-32. . Currently, at the time of execution of the lIRA Prelilninary Development Agreement and per the Agrecment, the developer delivers to the Authority cash or a certified check in the amount of $5,000. A few years ago, Ehlers & Associates went to a flat fce for preparation to establish a new TlF District, fee $4,500. Koropchak indicated that legal fees for preparation of the Contract for Private Development are estimated at $2000, which f~lr exceeds the remaining amount of $500. Koropchak referrcd to two letters provided to Steve Budd, IRTl, (District No. 1-28) and Don Tomann, UMC, (District No. 1-31) associated with over-run administrative costs. As you can see both companies paid the ovcr-run costs. The HRA waived the administrative cost for District No. 1-28 (CMHP) and District No. I -29 (Front Porch) has not been accounted. The administrative costs are compiled upon issuance of certificate of com pletion (coc) and eleven coc out of 18 coc for Front Porch have been issued. Koropchack noted that in previous discussions, the HRA felt raising the amount of the deposit might be proceeded as a impediment to development and elected to bill f()r over- run costs. In checking with Ehlers, their recommendation is a $2,500 deposit for preliminary analysis and then an additional $5,000 to $7,500 deposit for TIF preparation. Kenncdy & Graven reported the common deposit for existing districts is $5,000 and more to cstablish a new district. - Korpochack stated that in considering this increase, it may be better to get one deposit up front as it may be more difJicult to collect funds twice. Lahr and Andrews agreed. Koropchak also noted that each projcct will have a development agrcemcnt. Bargcr -- - 4 ~ . lIRA Minutes 02/04/04 indicated that the perception is that cash is tightest for developers at the beginning of a projcct as they are still trying to work out tentative numbers. In that case, the $2,500 may be easier to collect up front rather than going through the project and then collecting. Fair stated that it may be inlportant for developers to know the total cost up front, but perhaps not assess it all at the heginning. Barger inquired what costs were considercd preliminary. Koropchak indicated that Ruff suggcsted that staff timc be attributed to each TIF district. That funding can cover that staff ti me and other consulti ng expenses. A MOTION WAS MADE BY LAHR TO APPROVE INCREASING THE TIF DEPOSIT FROM $5,000 TO $7,500AND TO MODIFY THE PREUMINARY DEVELOPMENT AGREEMENT AND CONTRACT FOR PRIVATE DEVELOPMENT ACCORDINGLY. MOTION SECONDED BY ANDREWS. MOTION CARRIED UNANIMOUSL Y. 8. Consideration to authorize payment of HRA hills. Clarified that through with Michael Connor. A MOTION WAS MADE BY ANDREWS TO AUTHORIZE PA YMENT OF TI-{E HRA BILLS. BARGER SECONDED THE MOTION. . MOTION CARRIED UNANIMOUSLY. 9. Consideration of Executive Director's Report. Koropchak provided the ExccutiveDirector's report. Koropochak informed the HRA about DEED's new Johz Minnesota program, a ncw tax-free zone program for (heater Minnesota. Koropchak noted that she had polled Sunny Fresh Foods and Genereaux Finc Wood Products to dctermine whether such a program would encourage relocation. Gencreaux indicated that they would not relocate under such a program because of their involvemcnt in Monticello. However, if the company werc to cxpand, they may inquire about program. Don Rohcrts of Sunny Fresh indicated the same, stating Sunny Fresh's corporate headquarters is in Monticcllo, but if they were considering an expansion, they would look into it. Roberts also felt that the City should look at purchasing an industrial park. Fair inquircd ahout possible assessmcnt for the I-94/County Road 18 intcrchangc on the Remmele property. Carlson indicated that determination of an assessment area is still being made. Hc noted that thc Remmele property may he too far out for asscssments. John Chadwick and W olfsteller are working on the detai Is of thc letter of intent. Koropchak stated that therc arc a few items in thc non-binding letter of intent that nced to be workcd out, including timing. Pricc and rate of assessment have been agrced upon. Wolfsteller will hc asking Council to review the non-hinding lctter of intent. The purchase agreement would go back to Council for final approval. The Council at this point would be agreeing to gencral terms, not making a commitment to purchase. Andrews askcd Carlson whcther - 5 - . 1 IRA Minutes 02/04/04 part of the proposed interchange improvements involved straightening. Carlson indicated that the project has come under new discussion, as a new engineer has indicated that re- alignment of 1-94 may not he necessary. Koropchak indicated that ramps would still happen. Fair asked if MnDoT would be involved in an upgrade to County Road 18 instead of the re-alignment in that case. Carlson doesn't know how involved MnDOT will be. As the update on this project just occurred, Carlson indicated that he was unsure if WSB had begun lobbying for the proposed re-alignment versus the updgrade. . Regarding the Executive Director's report on Block 54, Fair inquired whether the lIRA would still have to make a decision about paying offbond.s with excess funds and asked if the HRA should be looking at trying to tie those properties up to move forward with more development. Koropchak noted that she had sent a letter to Paul Wurm with summarized statTdiscussions Koropchak will follow up to see ifhe has contacted recommended developers. Fair inquired if the HRA could approach the possible redevelopment area property owners. Lahr indicated that with Walgreen's and Landmark as potential projects, an additional project may reduce funds significantly. Koropchak indicated that the Walgreen's would not generate that mueh TIF funding, approximately $40,000- $50,000 per year. Koropchak stated that the HRA could approach property owners if they so chose. Fair proposed that it may be simpler to redevelop property for property owner. Koropchak stated of the possible properties, the Warner property may be the bctter opportunity as the housc is movable. Fair stated that it may be worthwhile to just ask if there is intcrest as the HRA owns the parcels around it. I,ahr inquired what the HRA would do with it. Carlson noted that thcre would be one lcss property owner to worry about in any given redevelopment project. I IRA directed Koropchak to see if there was any interest in selling pending an appraisal and J~lir market offer. Barger asked about Wurm's intercst in selling. Koropchak stated that Wurm himself would rather redevelop or sell to a developcr. Barger stated that if the HRA did have another property, it would be of benefit for another developer to work with just Wurm and the City. Koropchak will first call dcvelopers on the Warner house. Koropchack reviewed her decision not to send a letter explaining the HRA covering the cost oVer-run in non-certiJied TIF district 1-32. Koropchak made this decision after discussing with Wolfsteller. Koropchak indicated that the letter may confuse payment of over-run with anticipation of payment of future deJiciencies. Koropchak asked the HRA members if they still wanted to letter sent. They indicated not. Koropchak did note that she expects a deficiency in 1 ~23 for the life of that district. 10. Committee Reports. None. - 6 - . . .... ...... I-IRA Minutes 02/04/04 11. Other Business. None 12. Adjournment. A MOTION WAS MADE BY LAHR TO ADJOURN THE MEETING AT 8:30 P.M. BARGER SECONDED THE MOTION. MOTION CARRIED lJNANIMOUSL Y. HRA Chair Recorder - 7 - . 5. B. l. . 2. 3. 4. C. ARA Agenda - 03/03/04 Consideration to approve changes to the Contract for Private Redevelopment between Masters Fifth Avenue and the ARA for Landmark Sauare Phase 11. A. Reference and backe:round: The commissioncrs are asked to approve the changes to the Contract as prcpared by Attorney BubuI (See Attachment.) Thcse changes have occurrcd since the February HRA meeting and allow the deve10pcr extended time to re-negotiate a Purchase Agreement with onc of two remaining property owners and to procecd with the planning and building approval process. The changcs pertain to timing and conditions of the disbursements, required security, and construction commencement date. The Assessment Agreement did not change. It is the best case scenario given the eligible expenditure deadline date ofJune 30, 2004. Mr. Johnson will be present at the HRA. Thc HRA is onIy asked to approve thc changes and at a later date, the H RA will be asked to authorize execution of the Contract. Alternative Action: A motion to approve the changes as outlined in Draft Four of the Contract for Private Redevelopment between Masters Fifth A venuc and the HRA for Landmark Square Phase n. A motion to deny approval of the changes as outlincd in Draft Four of the Contract. A motion to table any action. A motion of other. Please define. Recommendation: The City Administrator and Executive Director recommcnd Alternativc No. I as the changes allow the developer more time to negotiate and prepare pIans while meeting thc June 30, 2004 deadlinc datc. The HRA's security are two irrevocable bank letter of credits in a form acceptable to the HRA and securcs the developer's obligation to commence and complcte construction of all minimum improvements. Commence construction by July I, 2004, and complete construction of all minimum improvemcnts by October 1, 2006. D. Suoportine: Data: Excerpts 1rom DraJl:Four of thc Contract. ..... ...,. Page 1 of 1 . Ollie Koropchak From: Bubul, Stephen J. [Sbubul@Kennedy-Graven.comj Sent: Thursday, February 26, 2004 11 :06 AM To: Ollie Koropchak Subject: Landmark Here's the blacklined Contract. As revised, the HRA will disburse both installments of money before any work has commenced on the improvements. But in both cases, the Redeveloper will need to deposit a letter of credit to secure both commencement and completion. So, if the work does not commence by August 1, 2004 (and see Section 43 for the definition of "commencement"), the HRA can cash both letters of credit. Let me know if you have questions, or if you want me to forward this to Barry and Brad. . - - 2/26/2004 . +hi-FdFourth Draft ,J-a.H-Hilry..J{).,~hruarv 26, 2004 CONTRACT FOR PRIV ATE DEVELOPMENT By and Between . MASTERS FIFTH A VENUE, INC. and HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MONTICELLO Dated as of: , 2004 This document was drafted by: .ar. ,.. KENNEDY & ORA VEN, Chartered 470 Pillsbury Center 200 South Sixth Street Minneapolis, Minnesota 55402 Telephone: (612) 337-9300 EMT-240630v3 MNJ90-111 . . . Section 3.3. Payment of Administrative Costs. The Developer agrees that it will pay upon demand by the Authority, Administrative Costs (as hereafter defined). For the purposes of this Agreement, the term "Administrative Costs" means out-of-pocket costs incurred by the Authority and attributable to or incurred in connection with the negotiation and preparation of this Agreement and other documents and agreements in connection with the development contemplated hereunder. Out-of-pocket Administrative Costs shall be evidenced by invoices, statements, or other reasonable written evidence of the costs incurred by the Authority. As of the date of this Agreement, thc Developer has deposited $5,000 with the Authority ($2,000 being the amount remaining from a prior deposit in connection with a previous redevelopment and $3,000 deposited under the Preliminary Agreement) to be applied toward Administrative Costs. If the Authority's actual Administrative Costs exceed the amount on deposit, Redeveloper remains obligated to pay such additional amounts upon demand by the Authority. If the Authority's actual Administrative Costs are less than the amount on deposit, the Authority shall, upon demand by the Developer, returned such excess to the Developer, but no earlier than the date on which the Developer receives a Certificate of Completion for all the Minimum Improvements pursuant to Section 404 of this Agreement. As of the date of this Agreement, Administrative Costs are estimated to total approximately $5,000 but the Authority makes no warranty that actual Administrative Costs will not be more or less than this amount. This Section 3.3 shall survive any termination of this Agreement for any reason. Section 3 A.Land Acquisition Costs. In order to make development of the Minimum Improvements economically feasible, the Authority will reimburse the Developer for up to $282,500 of the Developer's cost of acquisition for any portion of the Development Property acquired by Redeveloper after the date of this Agreement (the "Land Acquisition Costs"). Thc parties acknowledge that the Authority will finance such rcimbursemcnt with proceeds of the TIF Bonds, all in accordance with the following terms: (a) The Authority will disburse $157,500 (the "First Disbursement") upon thc Developer's satisfaction of the following conditions: (i) receipt and approval by the Authority's executive director of a copy of purchase agreements for the parcels of the Development Property to be reimbursed and a copy of the certificate of value from closing on that acquisition, showing Land Acquisition Cost in at least the amount to be disbursed; (ii) the Authority having approved Developer's financing for the Minimum Improvements in accordance with Article VII; (iii) the Authority having approved construction plans for the Minimum Improvements in accordance with Article IV, and the City having approved any plat and planned unit development necessary to construct the Minimum Improvements; .-......-----mm{iv1-t-he...I~e_vl'-lf}pef-Rff\,cj.Hg-.d~'f}-}(}lig.h€{Jalt-€Hf:i-sting-'sfFU€fUres'''{Hl.-tR€-c[)e-veleplneffi PH)}lt'-ftYi-€cl-eal'ed-the...site,--aHti..-{)()f}TffrenB-ed....eHHSffiK.4:i:onoic.-rtt-feasl-HBe_....t)t~.tr-te--4H-pk'-)>f€1S t<<yl'------tH-e--j3-t.tf:I*tSes----ef--{h.i:s----&ee!:iHtt,-:~,,"()nl m en cem en t ., -+1t€attS---i+lstftllatj.Bfl......or--f~)t*if+g.s EMT-240630v3 MN190-111 9 . . ..... ..... (vi,y) The Developer must have obtained approval from the Authority and the City of a parking and traffic plan satisfactory in the sole respective judgment of the Authority and the City, such plan to provide for at least adequate unrestricted parking spaces on the block on which the Development Property is located and fully exccuted easements and other agreements allowing for the construction, operation, and maintenance of the parking spaces and egresses and ingresses to the block on which the Development Property is located; -- 'v' the.. Redevclm~er has d~nosjJed with the AJ.lthorjty an irre'{Qcabk bank letter of -'''_~.m......_.....,_....,.. ,._....~~_.,.,.~.._..,."'-,..~...."'..~--_. ._._-_..,...".._-_.._....,--_...,~.....~_.....,,,~_.... cIe~iUl1 Jrc;_ilQ-19-UpL of)U5l:?OQ~j)2,='LiJ1mJ.~Gq~ma.Q!g,_t.(LlheLiJll!HlrjJv ,...QL aHc;rnf~1j v.~ se<;-!,n:ity acg~fr!-ble.Jo -Jh~--AuJhQJi1Y.'m ..whi~h__le!teJ.gf -(;r~_dit_2>ec 1!I.yS R~Ji.eYy,tQPeL~S obligati.on tq cODlmence apd cQmDl!?te c.qpstnJ.ctiOll_of ~11 the. MinilnumJmDwvcm.entsas r~pireql,!Dgg!,-Ar!i<::ly IVhc:!:~gI; and (vi) there is no uncured Event of Default. (b) The Authority will disburse $125,000 (the "Second Disburscment") upon the Developer's satisfaction of the following conditions: (i) thc conditions set forth in (a) were and continuc to be met; (ii) receipt and approval by the Authority's executive director of a copy of purchase agreements for the parcels of the Development Property to be reimbursed and a copy of the certificate of value from closing on that acquisition, showing Land Acquisition Costs in at least the amount to be disbursed, and in excess of the amount disbursed under paragraph (a),arnt-,; (i ii) thel't."c!ffcafitm--ef-the-"HlililY'.p&Ie-..ofl-the--f)evek.}pmenl_Vropcfly.."has-Ht..-"€-uFl'efl t&tl'le-salis1it€fHln-Bf:t-lw-('-tty-;- ...._-_.........-fi.v+-at-~ea*-(}ne+}f...H-1e-dHfllexes--has-heen-sHhst'ai'ttiHtlY"'6Hlflpleted:;....as-detefIHineJ tnil€'--"'<:}fElanee-WHfl-ArtteJe-J.V~----'--fv.+-tfle--Redeveloper has deposited with the Authority an irrevocable bank letter of credit in the amount of $125,000 in a form acceptable to the Authority, or alternative security acceptable to the Authority, which letter of credit secures Redeveloper's obligation to ,!;.OOJDlellG~~gI1Jtcomplete construction of all the Minimum Improvements as required under Article IV hereof; EtHEl (viiy) receipt by the Authority's Executive Director of a copy of the articles of incorporation, bylaws, and any restrictive covenants for the townhome or condomimum association created for the Minimum Improvements~1J~ ~"=~c~_,~co=LYJ111YI~~is I!Q_ UJl~-1!!~,9P Y~}Jt9LJ?~('illl1. (c) Notwithstanding anything to the contrary herein, no disbursements will be made under this Section after June 30, 2004, and if the conditions for making eithcr the First EMT-240630v3 MN190-111 10 . . . notify the Developer in writing of its approval. Such change in the Construction Plans shall, in any event, be deemed approved by the Authority unless rejected, in whole or in part, by written notice by the Authority to the Developer, setting forth in detail the reasons therefor. Such rejection shall be made within ten (10) days after receipt of the notice of such change. The Authority's approval of any such change in the Construction Plans will not be unreasonably withheld. Section 4.3. Commencement and Completion of Construction. Subject to Unavoidable Delays, the Developer shall commence construction of the duplex portion of the Minimum Improvements by MayJuly 1, 2004, and shall substantially complete the construction of aU the Minimum Improvements by October 1, 2006. All work with respect to the Minimum Improvements to be constructed or provided by the Developer on the Development Property shall be in conformity with the Construction Plans as submitted by the Developer and approved by the Authori ty ~=f OrJl1~-pY.Wl)s.e~.9fJl1~~.Agr$,yJJ~111,,::g9nJU1~U-Cem~!l(~mQ.~Q.sJhaJ_all_~~ ist.in,g 1m!.1 d.ing,') _haye .b~fn -gemQJi,~lled.",~nd.'....i.ll?tP)I(j..ti9!).....()j'.......J'{:i9Jing?Ji).11.11;1i,1!.!(/1.1S()I.... ...(ytl).Gf .......Vi.5.i.bJ.(~ jn',l.Pl.(},V(:.Lrl~.n.J~....b(.y.\)!)(J...\:~..'>.i.,~il.;i.sl.:ri.<.!.n...{l.!Li.l..gr:;d.il}g.,bav e CQ]pmel~s.~g. The Developer agrees for itself, its successors and assigns, and every successor in interest to the Development Property, or any part thereof, that the Developer, and such successors and assigns, shall promptly begin and diligently prosecute to completion the development of the Development Property through the construction of the Minimum Improvements thereon, and that such construction shaU in any event he commenced and completed within the pcriod specified in this Section 4.3 of this Agreement. The obligation to construct the Minimum Improvements in accordance with this Section touches and concerns the lmld, and shall run with the property and be binding upon all successors and assigns to the Development Property. After the date of this Agreement and until construction of thc Minimum Improvements has been completed, the Developer shall make reports, in such detail and at such times as may reasonably be requested by the Authority, as to the actual progress ofthe Developer with respect to such construction. Section 4.4. Certificate of Completion. (a) Promptly after completion of the Minimum Improvements (or any individual unit thereof: at Developer's request) in accordance with those provisions of the Agreement relating solely to the obligations of the Developer to construct the Minimum Improvements (including the dates for beginning and completion thereof), the Authority will furnish the Developer with a Certificate shown as Exhibit D. Such certification and such determination shall not constitute evidence of compliance with or satisfaction of any obligation of the Developer to any Holder of a Mortgage, or any insurer of a Mortgage, securing money loaned to finance the Minimum Improvements, or any part thereof. (h) If the Authority shall refuse or fail to provide any cel1ification in accordance with the provisions of this Section 4.4 of this Agreement, the Authority shall, within thirty (30) days after written request by the Developer, provide the Developer with a written statement, indicating in adequate detail in what respects the Developer has failed to complete thc Minimum Improvements in accordance with the provisions of the Agreement, or is otherwise in default, and what measures or acts it will be neccssary, in the opinion of the Authority, for the Developer to take or perform in order to obtain such certification. EMT-240630v3 14 MN190-111 . ARTICLE VI Tax Increment; Taxes Section 6.]. Right to Collect Dc!inquent Taxes. The Developer acknowledges that the Authority is providing substantial aid and assistance in furtherance of the development. The Developer understands that the tax increment intended to pay expenses of the Authority and the Developer are derived from real estate taxes on the Development Property, which taxes must be promptly and timely paid. To that end, the Developer agrees for itself, its successors and assigns, in addition to the obligation pursuant to statute to pay real estate taxes, that it is also obligated by reason of this Agreement to pay before delinquency all real estate taxes assessed against the Development Property and the Minimum Improvements. The Developer acknowledges that this obligation creates a contractual right on behalf of the Authority to sue the Developer or its successors and assigns to collect delinquent real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the County auditor. In any such suit, the Authority shall also be entitled to recover its costs, expenses, and attorney fees. . Section 6.2. Rcview of Taxcs. The Developer agrecs that prior to the Maturity Date it will not causc a reduction in the real property taxes paid in respcct of the Development Property through: (A) willful dcstruction of the Development Property or any part thereof; or (B) willful refusal to reconstruct dan1aged or destroyed property pursuant to Section 5.1 of this Agreement, except as provided in Section 5.1 (e). The Developer also agrees that it will not, prior to the Maturity Date, seek exemption from property tax for the Development Property or any portion thereof or transfer or permit the transfer of the Development Property to any entity that is exempt from real property taxes and state law (other than any portion thereof dedicated or conveyed to the City in accordance with platting of the Development Property), or apply for a deferral of propcrty tax on the Development Property pursuant to any law. Section 6.3. Assessment Agreement. (a) Upon of this Agreement, the Developer shall, with the Authority, execute an Assessment Agreement pursuant to Minnesota Statutes, Section 469.177, subd. 8, specifying an assessor's minimum market value (the "Minimum Market Value") for the Development Property and the Minimum Improvements constructed thereon. The amount of the Minimum Market Value shall be $1,850,000 as of January 2, 2005 and each January 2 thereafter through the Maturity Date. (b) The Assessment Agreement shall be substantially in the form attached hereto as Exhibit C. Nothing in the Assessment Agreement shall limit the discretion of the assessor to assign a market value to the property in excess of the Minimum Market Value. The Assessment Agreement shall remain in force for the period specified in the Assessment Agreement. The Developer shall cause the Assessment Agreement to be consented to by any Holder of a Mortgage. Section 6.4. Qualifications. Notwithstanding anything herein to the contrary, the parties acknowledge and agree that the provisions of Sections 6.1, 6.2 and 6.3 hereof shall not apply to a residential unit within the Minimum Improvements from and after the date that such unit is EMT.240630v3 MN190-lll 18 . . . HRA Agenda - 03-03/04 6. Continued - Considcration to hear an uodate on redevelopmcnt of Block 52. Bob Cunningham, Told Development Company and Steve Johnson plan to attend the HRA meeting and to give an update. . . . HRA Agenda - 03/03/04 6. Continued - Consideration to hear update on redevelopment of Block 52. A. Consideration to authorize entering into a Preliminary Development Agreement with Told Development Company. The HRA entered into a Preliminary Development Agreement with SCJ Devclopmcnt Group, LLC on December 16, 2002, for redevelopment on the Johnson corner lot and lIRA lot. The Agreement was effective from the date hereof through Decem ber 31, 2003. The Developcr had deposited $5,000 of which the BRA will return to the Developer any non-utilized funds as of the termination date. As the commissioners were informed at the February HRA meeting, the developer of the proposed project is now Told Development Company. In a conversation with Bob Cunningham, Told Development Company, the company is willing to enter into a Preliminary Development Agreement with the HRA and submit the deposit of $7,500. Given any unforeseeable event between now and the lIRA meeting, please consider the following altcrnatives. B. Alternative Action: I. A motion to approve entering into a Preliminary Development Agreement with Told Development Company, deposit of$7,500, effective date June 30, 2004, for the proposed Walgreen's projeet. 2. A motion to deny approval to enter into a Preliminary Development Agreement with Told Development Company. State reason. 3. A motion to table any action. C. Recommendation: The City Administrator and Executive Dircctor recommend Alternative No.1. This to insure any cost incurred by the HRA through the suggested effcctive date are covered. Should the project not proceed and not meet the eligible expcnditure datc of June 30, 2004, a Contract for Private Redevelopment executed, and plans approved; the HRA could then consider establishment of a new TIF District and require a new Preliminary Development Agreement. . . . HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MONTICELLO, MINNESOTA PRELIMINARY DEVELOPMENT AGREEMENT TIBS AGREEMENT, dated this _ day of . 20 by and between the Housing and Redevelopment Authority in and for the City of Monticello. Minnesota, a public body corporate and politic under the laws of Minnesota ("Authority") and .. ("Developer"): wrrNESSETH: WHEREAS, the Authority desires to promote development of certain property within the City of Monticello, which property is legally described in Exhibit A attached hereto ("Property"); and WHEREAS, the Developer has submitted a preliminary proposal (the "Proposal") for development of the Property (the "Development"), which proposal is attached hereto as Exhibit B; and WHEREAS, the Developer has requested the Authority to explore the use of certain public assistance to assist with the Development: and WHEREAS, the Authority has determined that it is in the Authority's best interest that the Developer be designated sole dcvcloper of the Property during the term of this Agrecment: and WHEREAS, the Authority and the Developer arc willing and desirous to undertake the Development if (i) a satisfactory agreement can be reached regarding the Authority's commitment for public costs necessary for the Devclopment; (ii) satisfactory mortgage and equity financing, or adequate cash resources for thc Development can be secured by the Developcr; and (iii) the economic feasibility and soundness of the Dcvelopment and other necessary preconditions have been determined to the satisfaction of the parties; and WHEREAS, the Authority is willing to evaluatc the Development and work toward al1 necessary agreements with thc Developer if the Developer agrees to reimburse the Authority for its costs if the Development is abandoned or necessary agreements are not reached under the terms of this Agreemcnt. NOW, Tl--IEREFORE, in consideration of the foregoing and of the mutual covenants and obligations set forth herein, the parties agree as follows: 1. Negotiations betwecn thc parties shall proceed in an attcmpt to formulate a definitivc development contract ("Contract") based on the followi ng: (a) the Developer's Proposal, which shows the scope of the proposed Development in its latest form as of the date of this Agreement, together with any changes DJ( i-200XX7v I MN190.1 . . . or modifications rcquired by the Authority: (b) a mutually satisfactory Contract to be negotiated and agreed upon 111 accordancc with ncgotiations contemplated by this Agrcement; (c) such documentation regarding economic feasibility of the Project as the Authority may wish to undertake during the term of this Agreement; and (d) other terms and conditions of this Agreement. 2. It is the intention of the parties that this Agrcement: (a) documents the present understanding and commitments of the partics: and (b) will lead to ncgotiation and execution of a mutually satisfactory Contract for the Development prior to the termination date of this Agreement. The Contract (together with any other agreements entered into between the parties hereto contcmporancously thercwith) when executed, will supersede all obligations of the partics hcreunder. 3. During the term ofthis Agreement, the Developer shall: (a) Submit to thc Authority a design proposal to be approved by the Authority showing the location, size, and nature of the proposed Development, including floor layouts, renderings, elevations, and other graphic or written explanations of the Development. 'rhe design proposal shall be accompanied by a proposed schedule for the starting and completion of all phascs of Devclopment. (h) Submit an (wer-all cost estimate for the design and construction of the Development. (e) Submit a time schedule for all phascs of the Developmcnt. (d) Undertake and obtain such other preliminary economic feasibility studies, income and expense projections, and such other economic information as the Developer may desire to further confirm thc economic feasibility and soundness of the Development. (e) Submit to the Authority the Developer's financing plan showing that the proposed Development is financially feasi ble. (f) Furnish satisfactory, financial data to thc Authority evidcncing the Developer's ability to undertake the Developn1cnt. 4. During the term of this Agreement, the Authority agrees to: (a) Commence the process ncccssary to undertake such public assistance as is necessary pursuant to the terms of the Proposal. (b) Proceed to seek all nccessary information with regard to the anticipated public costs associated with the Development. DI(i-200887v I MN I ')()-I 2 . . . (c) Estimate the Authority's level and method of financial participation, if any, in the Development and develop a financial plan for the Authority's participation. 5. subject to: It is expressly understood that exccution and implcmcntationofthe Contract shall be (a) A determination by the Authority in its sole discretion that its undertakings arc feasible based on (i) the projected tax increment revenues and any other revcnues designatcd by the Authority; (ii) the purposes and objectives of any tax increment, development, or other plan created or proposed for the purpose of providi ng financial assistance for the Developmcnt; and (iii) the best interests of the Authority. (b) A detcrmination by the Developer that the Development is feasible and in the best interests of the Developer. 6. This Agreement is cffective from thc date hereofthroug~ ~() .200 L. After such date, neither party shall have any obligation hereunder except as expressly set forth to the contrary herein. 7. the Developer shall be solcly responsible for all costs incurred by the Developer. In addition, the Developer shall reimburse the Authority for AdministrativcCosts, as hereafter dcfincd. For the purposes of this Agreement, the term "Administrative Costs" means out of pocket costs incurred by the Authority together with staff costs of thc Authority, all attributablc to or incurred in conncetion with the negotiation and prcparation of this Agrecment the Contract and other documents and agreemcnts in connection with the Dcvclopment. In order to securc payment of the Administrativc Costs, the Developer shall dcli ver to the Authority cash or a certified chcck in the amoLlnt 01'$7,500 such dclivery to occur upon cxccution of this Agreement. If at any onc or more timcs during the term of this Agreement, the Authority determines that Administrative Costs wi II exceed $ 7. .500 and that addi ti onal security is rcq uired, the Authority shall notify the Developer of the amount of such additional security. Within ten calendar days of rcceipt of this notice, the Dcveloper shall delivcr to the Authority the rcquired additional security. The Authority will utilize the funds delivered by the Devcloperto payor reimbursc itself for Administrative Costs. Upon tcrmination of this Agreement, the Authority will return to the Developer thc funds paid by the Developer to the Authority pursuant to this Section 7, Icss an amount cqual to thc Administrativc Costs. This Section 7 shall survivc termination of this Agrcement and shall he binding' on the Developer rcgardless ofthc enforceability of any other provision ofthis Agreement. 8. This Agrcement may be terminated upon 5 days written notice by the Authority to the Developer if: (a) an cssential precondition to the exccution of a contract cannot be mct; or (b) if, in thc respectivc sole discretion of the Authority or the Developer, an [lJCi"200887v I MN190-1 " .) . impasse has been reached in the negotiation or implementation of any material tcrm or condition of thi s Agreement or the Contract; or (c) The Authority determines that its costs in performing under this Agrcement wi II exceed $ 7. 500and the Developer docs not deliver additional security to the Authority pursuant to Section 7 of this Agreement. If the Authority terminates thc Agreement under this Section 8, the Devcloper shall remain liable to the Authority undcr Sections 6 and 7 of this Agrccmcnt for costs incurred by thc Authority through the datc of termination. 9. Agreemcnt. thc Developer is designated as sole developer of the Property during the tcrm of this 10. I n the event that the Developer, its heirs, successors or assigns, fail to comply with any of the provisions of this Agreement the Authority may proceed to enforce this Agreemcnt by appropriate legal or equitable proccedings, or other similar proceedings, and the Developer, its heirs, successors or assigns, agree to pay all costs of such enforcement, including rcasonable attorneys' fees. 11. If any portion of this Agreement is held invalid by a court of competent jurisdiction, such decision shall not affect the validity of any remaining portion of the Agreement. . 12. I n the event any covenant contained in this Agreemcnt should be breached by onc party and subsequcntly waived by another party, such waiver shall he limitcd to the particular breach so waived and shall not be decmed to waive any othcr concurrent, previous or subsequent breach. 13. Notice or demand or other communication between or among the parties shall bc sufficiently given if scnt by mail, postage prepaid, return receipt requested or delivered personally: (a) As to the Authority: Housing and RedevelopmentAuthority in and i()J: the City of Monticello 505 Walnut Street, Suite I Monticello, MN 55362-8822 Attn: Executivc Director (b) As to the Developer: . 14. This Agreement may be executed simultaneously in any number of counterparts, all of which shall constitutc one and the same instrument. 15. This Agrecrnent shall be governed by and construed in accordance with the laws of I )J( ;"200RH7v I MN190-1 4 . the state of Mi nnesota. Any disputes, controversies, or claims arising out of this Agreement shall be heard in the state or federal eourts of Minnesota, and all parties to this Agreement waive any objection to the jurisdiction of these courts, whether based on convenience or otherwise. ...... 16. The Developer hereby agrees to protect defend and hold the Authority and its officers, elected and appointed otTicials, employees, administrators, commissioners, agents, and represcntatives harmless from and indemnified against any and all loss, cost. fines, charges, damage and expenses, including, without limitation, reasonable attorneys fees, consultant and expert witness fees, and travel associated therewith, due to claims or demands of any kind whatsoever arising out of (i) the dcvelopment, marketing, sale or leasing of all or any part of the Property. including, without limitation, any claims for any lien imposcd by law for services, labor or materials furnished to or for the benefit of the Property, or (ii) any claim by the state of Minnesota or the Minnesota Pollution Control Agency or any other person pcrtaining to the violation of any permits, orders. decrees or demands made by said persons or with regard to the presence of any pollutant, contaminant or hazardous waste on the Property; and (iii) or by reason of the execution of this Agreement or the performance of this Agrecment. The Developer. and the Developer's successors or assigns, agree to protect, defend and save the Authority, and its oHieers, agents, and employees, harmless from all such claims, demands, damages, and causes of action and the costs, disbursements, and expenses of defending the same, including but not limited to, attorneys fees, consulting engineering services, and other technical, administrative or professional assistance. This indemnity shall be continuing and shall survive the performance, termination or cancellation of this Agreement. Nothing in this Agreement shall be construed as a limitation of or waiver by the Authority of any immunities, defenses, or other limitations on liability to which the Authority is entitled by law. including but not limited to the maximum monetary limits on liability established by Minnesota Statutes, Chapter 466. . 17. The Developer, for itself~ its attorncys, agents, employees, former employees, insurers, heirs, administrators, representatives, successors, and assigns, hereby releases and forcver discharges the Authority, and its attorneys, agents, representatives, employees, former employees, insurers, heirs, exceutors and assigns of and from any and all past, present or future claims, demands, obligations, actions or causes of action, at law or in equity, whether arising by statute, common law or otherwise, and for all claims for damages, of whatever kind or nature, and for all claims for attorneys' fees, and costs and expenses, including but not limited to all claims of any kind arising out of the negotiation, execution, or performance of this Agreement between the partics. [REMAINDER OF PAGE INTENTIONALL YLEFT BLANK] .- - D.lG-200RR7v I MN190-1 5 . . . IN WITNESS WHEREOF, the Authority has caused this Agreement to he duly executed in its name and behalf and its seal to be duly atlixed hereto and the Developer has eaused this Agreement to be duly executed as of the day and year first above written. DEVELOPER By Its; By Its: DJ( i-200BB7v I MN100-1 6 . - .... DI( i-2008B7v I MNI0(J-1 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MONTIe ELI ,0, MJNNESOT A By __~" I ts Chair By.__._ Its Executive Director 7 . HRA Agenda - 03/03/04 68. Consideration to discuss terms and conditions of the offer from Told Development Company for purchase of HRA parcel located in Block 52. A. Reference and back!!round: At the HRA meeting in February, Tom Burke, Told Development eompany, gave an update on the proposed Walgreen's development stating they had a signed Purchase Agreement for Steve Johnson's property but as yet had no other agreements. Given the time constraint of the TIF, he presented an offer to thc HRA from Told for purchase of the HRA lot on Block 52. The commissioners requested input from Attorney Bubul. Although the time constraint does exist and the need for a public hearing, the HRA parcel is the last and probably easiest piece of the puzzle. The HRA needs to know the scope of the project (which parcels), run TIF cashflows, received proforma and bank evidence for "but for", list of eligible TIF expenditures, building/planning approval in progress, and Contract of Private Redevelopment executed showing construction commencement and completion dates. The HRA has yet to approve the use or an amount of TIP. ........ In talking with Bob Cunningham, Told, he will be at the HRA March meeting to give an update and requests the HRA discuss terms and conditions of the Letter ofIntenL "'IIII!!!!!!" The offer is a "Letter of Intent" with an expiration date of March 1, 2004. Terms and conditions to discuss from the Executive Director's perspective: L SITE CONDITION & INFORMATION: Sell "as is". HRA gives no guarantee of condition of site. 2. PURCI-IASE PRICE: HRA purchased Jot for $50,000 in 1996. Appraisal 1996 $37,000. The HRA could order an appraisal but an appraisal is not mandatory f(Jr selling. 3. PURCHASE AGREEMENT': Jfletter of intent is acceptance, one agrees to enter into a Purchase Agreement within 10 days. Premature. 4. REVIEW PERIOD: Conditions only allow purchaser to cancel. 5. EXPIRA TION DATE: March 1, 2004. Attorney Bubul' s input will be attached if received. . HRA Agenda - 03/03/04 B. Alternative Action: 1. Following discussion, a motion defining the terms and conditions, only, of a "Lctter of Intent" with Told Development Company for thc Block 52 HRA lot. (HRA does not accept entering into a "Letter of Intent" as this time.) 2. Following discussion, a motion defining the terms and conditions and acccpting to enter into a "Letter of Intent" with Told Devclopmcnt Company for the Block 52 HRA lot. " .). Following discussion, a motion of no interest to sell. 4. Following discussion, a motion to table any action. 5. Following discussion, a motion of other action.. c. Recommendation: . The City Administrator and Executive Director recommend Alternative No. I. This would give the developer some direction and the HRA is not making any commitments to sale. The project is to be premature for HRA commitment or the nccd to call for a public hearing. D. Supporting Data: Copy of February 4, 2004, offer "Lettcr ofIntent", Bubul' s input if available, 1996 I-IRA Purchase Agreement, and map. . 2 . ~~~~ February 4, 2004 City of Monticello Housing and Redevelopment Authority 5005 Walnut Street, Suite I Monticello, MN 55362 Re: Offer to Purchase Property \ \ \ 400 West Broadway Monticello, Minnesota Dear Chairman: We are pleased to present this Offer to Purchase the parcel described herein under the following terms and conditions. PURCHASER: Meridian AFT LLC (d/b/a TOLD Development Company), its successors and assIgns. - SELLER: City of Monticello Housing and Redevelopment Authority ~ SITE: The site is comprised of the area highlighted on Exhibit "A" attached hereto. SITE CONDITION & INFORMATION: Seller will provide copies of all Site related information relating to the site from Seller's files including but not limited to surveys, soil conditions, environmental reports, plans for buildings, specifications, and geotechnical information. Additionally, Seller will provide Purchaser with copies of all agreements with governmental authorities, easements or other agreements that will affect or encumber the Site before or after a Closing. Seller shall deliver the site free of contamination. PURCHASE PRICE: Purchaser agrees to pay Seller the price of Seventy- four Thousand and Noll 00 Dollars ($74,000.00). PURCHASE AGREEMENT: Purchaser and Seller will enter into a Purchase Agreement within ten (10) days of acceptance of this Letter of Intent by Seller as proposed by Purchaser. Purchaser shall prepare Purchase Agreement. SPECIAL MINNEAPOLIS. MILWAUKEE 6385 Old Sh(ldy O(lk RO(ld, Suite 120 . Eden Prairie. MN 55344 . (952) 278.9000 Fax (952) 278-7574 .~------, ./ No. 1517A MiLl ,F,H1DA VIS Co. Minneapolis, MN DO NOT COpy Subject to Copyrig-ht Law6 STANDARD PURCHASE AGREEMENT WHITE.Office Copy YELLOW-Buyer's Copy GREEN.Seller's Copy PINK.Buyer'9 Receipt MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY ONE THOUSAND DOLLARS AND NO CENTS MAY 6 96 ,19_ RECEIVED OF , Minnesota IN AND FOR THE CITY OF MONTICELLO 1. 000 . 00 located at (Street Address) () City of MONTICELLO , County of WRIGHT , State of Minnesota, including all plants, shrubs and trees, all storm windows and/or inserts, storm doors, screens, awnings, window shades, blinds, curtain- ! traverse-drapery rods, attached lighting fixtures with bulbs, plumbing fixtures, water heater, heating system, humidifier, central air conditioning, electronic air filter, automatic garage door opener with controls, water softener, cable television outlets and cabling, BUILT-INS to include: dishwasher, garbage disposal, trash compactor, oven(s), cooktop stove, microwave oven, hood-fan, intercom, installed carpeting, IF ANY, located on the premises which are the property of Seller and also the following personal property: 111 WEST BROADWAY 10 50,000.00 ! } all of which property Seller has this day sold to Buyer for the sum of: $ 18 FIFTY THOUSAND DOLLARS AND NO CENTS Dollars, which Buyer agrees to pay in the following manner: Earnest money of $ ;1 $ 49,000.00 __ cash on or before MAY 31, .f $ by financing as follows: 1,000.00 1996 and , the date of closing, and the balance 'D Attached are 1 addendums which are made a part of this agreement. , SUBJECT TO performance by Buyer, Seller agrees to execute and deliver a. UNRESTRICTED Warranty Deed, 13 to be joined in by spouse, if any, conveying marketable title to the premises subject only to the following exceptions: (1) Building and zoning laws, ordinances, State and Federal regulations. (2) Restrictions relating to use or improvement of the premises without effective forfeiture provision. (3) Reservation of any minerals or mineral rights to the State of Minnesota, (4) Utility and drainage easements hich do not interfere with present improvements. (5) Rights of tenants, if any. REA XES Seller agrees to pay / 12ths and Buyer agrees to pay / 12ths of taxes due and payable in t 19 _' Seller agrees to pay ths and Buyer agrees to pay / 12ths of annual install and payable in the year 19 _. agrees sing all special assessments levied and pending Buyer shall pay taxes due and payable in the and any unpal nts of special assessments payable therewit and thereafter. Seller taxes due and payable in the year 19 will be homestea class' . er Seller nor Seller's Agent makes any representation concerning the amount of future real estate 13 WARRANTIES Seller warrants that buildings, if any, are entirely within the boundary lines of the premises. Seller warrants that all appliances, heating and air conditioning, wiring and plumbing used and located on the premises are in proper working order on date of closing. 'liS Buyer has right to inspect premises prior to closing. Buyer shall satisfy himself/herself at his/her expense that all appliances, heating and air 16 conditioning, wiring and plumbing are in proper working order before closing. Seller warrants that the premises are connected to: city sewer .r7 0 yes _ 0 no; city water 0 yes - 0 no. If the premises are destroyed or substantially damaged by fire or any other cause before the losing date, this agreement shall become null and void at Buyer's option, and the earnest money shall be refunded to Buyer. __ OSSESSION Seller agrees to deliver possession not later than closing. ,(1 All interest, city water and sewer charges, electricity and natural gas charges, fuel oil and liquid petroleum gas shall be pro-rated between the I parties as of ' Seller agrees to remove all debris and all personal property not included herein from the premises before posseSSion date. TITLE & EXAMINATION Seller shall, within a reasonable time after acceptance of this agreement, furnish an Abstract of Title, or a Registered Property Abstract, certified to date to include proper searches covering bankruptcies, State and Federal judgments and liens. Buyer shall be allowed 10 business days after receipt for examination of title and making any objections, which shall be made in writing or deemed F waived. If any objection is so made, Seller shall be allowed 120 days to make title marketable. Pending correction of title, payments hereunder _ i required shall be postponed, but upon correction of title and within 10 days after written notice to Buyer, the parties shall perform this agreement according to its terms. If title is not corrected within 120 days from the date of written objection, this agreement shall be null and void, at option of Buyer, neither party shall be liable for damages hereunder to the other, and earnest money shall be refunded to Buyer. DEFAULT If title is marketable or is corrected within said time, and Buyer cIefl!ults irt~ny4_the_8€lr~ts.herfin .5,p.!I~...maYtermi'lj~lt~tDis j 1 agreement, and on such termination all payments made hereunder shall be retained by Seller and Agent, as their respective Interests may appear, .:; as liquidated damages, time being of the essence hereof. This pre-vision shall not deprive either party of the right of enforcing the specifiC performance of this agreement, provided this agreement is not terminated and action to enforce specifiC performance is commenced within six months after _ ....." _ _ __L ___ __ __ _,...._ '^r~^,..,f thi" Il.,."oorn<>nt <Inri Nntir:p nf r.l'lnr.Alliltion is . . . City of Monticello Page 2 February 4, 2004 ASSESSMENTS: Seller will pay all levied or pending Special Assessments or other levies prior to closing. REVIEW PERIOD: Purchaser shall have a Review Period until June 15,2004 to cancel the Purchase Agreement due to the following: I) Purchaser shall have been able to obtain all necessary governmental approvals and permits with regard to all applicable environmental, demolition, construction, zoning, platting, signage, road vacation(s), subdivision, lot split, County and City access and turn lane agreements, cross easements, and other land use laws, ordinances and regulations and codes for the construction and use of the Property as Purchaser intends. 2) Purchaser shall have been able to determine that all necessary utilities, including, but not limited to, natural gas, sanitary sewer, storm sewer and water, are located at the property line and are of adequate capacity to serve the development of the Property contemplated by the Purchaser. 3) Purchaser shall have been able to conduct such soil test, environmental assessments or other test or investigations as are consistent with its interest hereunder, the results of which shall be acceptable to Purchaser in its sole discretion. 4) Purchaser shall have been able to enter into additional purchase agreements to form the entire area needed for Purchaser's intended use. 5) Purchaser shall have been able to obtain financing, including Tax Increment Financing assistance, for the use contemplated by purchaser on terms and conditions solely acceptable to purchaser. OTHER: Purchaser acknowledges Seller must hold a public hearing to sell Site. EARNEST MONEY: Purchaser shall deposit Earnest Money in the form of an irrevocable letter of credit in the amount of Five Thousand and Noll 00 Dollars ($5,000.00) in an escrow account with Old Republic Title Insurance Company. Earnest Money shall be refundable if Purchaser cancels the Purchase Agreement during Due Diligence Period. BROKER: No broker is involved in this proposed transaction. CLOSING: Closing will occur within thirty (30) days of expiration of last applicable Review Period. Seller shall deliver deed unencumbered complete with marketable title. . . . City of Monticello Page 3 February 4, 2004 This is a Letter ofIntent and shall not bind either party. Please return a signed original of this Letter of Intent by March 1, 2004, at which time this offer shall expire. Thank you in advance for your consideration. Sincerely, MERIDIAN AFT LLC, A Minnesota limited liability company ~:/aTOL~nt~ Thomas M. Burke Its: Assistant Manager AGREED TO AND ACCEPTED THIS DAY OF , 2004. SELLER: CITY OF MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY By: Its: -.....-------, ..- No. 1517A MILLF.R/DA VIS Co. Minneapolis, MN DO NOT COpy Subject to Copyright La"'s STANDARD PURCHASE AGREEMENT WHITE-Office Copy YELLOW.Buyer's Copy GREEN-Seller's Copy PINK-Buyer's Receipt MONTICELLO , Minnesota MAY 6 , 19 ~ RECEIVED OF HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MONTICELLO the sum of ONE THOUSAND DOLLARS AND NO CENTS Dollars ($ 1,000.00 by CHECK as earnest money to be deposited the next business day after acceptance in trust account of listing broker (unless otherwise specified in writing) and in part payment for the purchase of the premises legally described as LOTS 7 AND 8, BLOCK 52. EXCEPT SELY 16.5 FEET OF SWLY 90 FEET OF LOT 8 111 WEST BROADWAY located at (Street Address) ;) City of MONTICELLO , County of WRIGHT , State of Minnesota, I including all plants, shrubs and trees, all storm windows and/or inserts, storm doors, screens, awnings, window shades, blinds, curtain- ! traverse-drapery rods, attached lighting fixtures with bulbs, plumbing fixtures, water heater, heating system, humidifier, central air conditioning, electronic air filter, automatic garage door opener with controls, water softener, cable television outlets and cabling, BUilT-INS to include: dishwasher, garbage disposal, trash compactor, oven(s), cooktop stove, microwave oven, hood-fan, intercom, installed carpeting, IF ANY, located on the premises which are the property of Seller and also the following personal property: in 1 () u all of which property Seller has this day sold to Buyer for the sum of: $ FIFTY THOUSAND DOLLARS AND NO CENTS 50.000.00 Dollars, ~ ;::."\ which Buyer agrees to pay in the following manner: Earnest money of $ /1 $ 49.000.00 _ cash on or before MAY 31, .f $ by financing as follows: 1.000.00 1996 and , the date of closing, and the balance J) , 1 Attached are 1 addendums which are made a part of this agreement, SUBJECT TO performance by Buyer, Seller agrees to execute and deliver a. UNRESTRICTED Warranty Deed, to be joined in by spouse, if any, conveying marketable title to the premises subject only to the following exceptions: (1) Building and zoning laws, ordinances, State and Federal regulations. (2) Restrictions relating to use or improvement of the premises without effective forfeiture provision. (3) Reservation of any minerals or mineral rights to the State of Minnesota. (4) Utility and drainage easements . _ _. . , ....1_ __ _~~~~... :....................u...........nF""\...~ 11:\\ s:li"l--ttc::: nf t~n:;;ant~ if i=lnv. . . l ~,' . "'IF' .~~"" ;"m'" " ,-',' ~t.': .~',:,;.! :;'. . I () 8, <"I "0 9 ...... I 'f .. !~ --- --- I I I " I I I I I I I I I I I ;~ 5 1/ I~ I : iJ I "- ~ ~ ~ ~ ~ ~ ',\ "~'-) ~..............-\ J~~,'CITY OF MONTICELLO ~~lfh\t:' . ,,;yl.~r House Numbering Plan .~'~ ;:~;.~"'; ~ '::;YV)"i': lA.J ~ S T I<:r tJll:-' .~,:,' T i/ tl:.: r I I I I I r-J -t I I I I I.~I -8' I /" I I I (; "1 ,I i I 1 I 1 I 'I", I .J l/U (..sf /),,v& ~.1//I~/d)l If 6' 1 i j , i f() I BLOCK NO. 5f) I o ';} ...) /0 t,- :4.) ,:"'lJ (~ \...' , ) ~I ;,~ \'~ (~ ) . . . HRA Agenda - 03/03/04 8. Executive Director's Report - 1) MN DEED Commissioner Matt Kramer - As Chair of the Economic Development Partnership of Wright County, I joined the Commissioner and others on a tour of Wright County industrial businesses: UMC (Monticello), Production Technologies (Maple Lake), and Von Ruden Manul~tcturing (Buffalo). Sec attElehed. 2) JOBZ - I've talked to Commissioner Kramer; Mark Loftus, marketing director for the MN DEED; and Senator Mark Ourada about the State sharing business leaders with both the JOBZ and non-JOBZ areas. This would at least give us an opportunity to market Monticello. Remember, Minneapolis, St. Paul, and Rochestcr arc designated as Bio-Science Arcas. 3) Boston Scientific - Did you read or hear where BS announced their plans to build their manufacturing plant at their current site in Maple Grove. Will employee 600 people. About a month ago, my contact at BS had disclosed that information to me. 4) Marketing Committee met February 11 - 1. Reviewed their current fund balance and talked about upcoming events as it relates to the potential marketing of land for sale. However, the group thought any such marketing efforts were premature (putting the cart before the horse.) 2. Heard a presentation from Perry Sloneker, Monticello Visitors Association. The committee decided not to participate as they felt this was "a Chamber function" but if a specific project came along they would consider participating. 3. Will not pmticipate in a $4,000 sponsorship (full-page profile or full-page ad) in Upsize Minnesota Magazine, April issue spotlighting Wright County. May consider later if we have something tangible to market or sell. Monticello will be featured in the magazine. 18,000 circulation to Minnesota business managers. Instead, the committee will survey the local industries for the top five journals read by owners and management for future considerations to advertise. 5) Vacation - I'll be on vacation February 29 through March 14 and will be back in the office on March 15. 6) Business Retention ~md Expansion - Meeting set for March 17 with local industrial business looking to expand in 2004. H- Window building - A hair product company is taking a second look at H- Window building this coming Tuesday. 50-60 jobs. Remmele building - Agent states activity slow. In Metro, seeing increased activity. One party looked at building fi:.mr times, that's the manufacturer I've visited. Olson General Contractors received a 2004 NAIOP Awards of Excellence nomination for the UMC building. 7) Leads - 17,000 sq ft building fi:)f industrial cleaner of clothing. Construct or lease. United Properties - Will have second meeting with agents later in March as follow-up. Will tour land in the northwest corridor for possible acquisition (future development.) Looking along I-94 corridor, Monticello farthest out. 8). Attended Ehlers & Associates "Public Finance Seminar" February 5 and 6. Was excellent Sessions: Refundings: Simplifying this financing tool; Empowering communications in challenging . HRA Agenda - 03/03/04 . times; How to be an etlective negotiator; How DEED can assist you in financing development; New design trends and concepts in retail and mixed-use development, and How to deal with more needs than resources: alternative revenue sources and financial planning. 9) Have drafted a preliminary schedule for development of an industrial pm"k (things to do) and a list of strengths and weaknesses to define how Monticello is dif1erent from other communities competing for industrial development. 10) Small Industrial Group meeting at 7:00 a.m., February 26, prior to 8:00 a.m. meeting with Shawn Weinand and Charlie Pfeffer to respond to questions from Weinand relating to eity owned-industrial park. 11) Mike O'Connor's residential relocation claim - It now appears O'Connor's attorney misplaced the I-IRA check of $3,331.52 for the residential relocation claim and therefi:.)[e Mr. O'Connor never received his payment. Attached is a copy of the letter from the lIRA requesting reimbursement of HRA expenses prior to stopping payment of check and re-issuing of a new check. 12) Paul Wurm, Block 54 - Mr. Wurm did contact Metro Plains and Boisclair Corporation about redevelopment. The developer's question was "What are the City plans tying Blook 54 and Block 52 together?" Metro Plains is open to consider redevelopment and J didn't hear from the Boiselair. Wurm did contact Mr. Warner (remaining property owner on Block 54), and he and his wife have no plans to relocate. He's in his mid 50's employed at Maus Bakery and believe his wife is at the clinic or school. 13) TIF District No. 1-22 5-year rule extension - Marie at the Chambcr Office left me a message that Senator Ourada ealled asking about introducing the 5-year rule extension bill. Marie told him to go ahead and then called me. Ourada said he'd introduce the bill in the Senate and would support the bill. I've checked with both Mark Ruff and Steve Bubul given the HRA spent about $5,000-$6,000 on lobbying efforts last year and as far as I know the political climate locally and Representative Anderson's position has not changed. Ruff's thought "it wouldn't hurt" - Bubul suggested call ing Rep. Anderson first to check his position and to clarify the $1.5 million of unspent bond proceeds. In May, the H RA will adopt a resolution authorizing the refinance of the temporary $2.1 minion bonds. The estimated eost to the I IRA each time the bonds are refinanced is $30,000. Certainly Mr. Fluth and the TOLD Development Compm1yare very aware of the June 30, 2004 deadline date for eligible expenditures. Bubul does not see the TOLD project meeting the deadline date. The HRA could consider establishing a new TIF District if it meets the Statute requirements. What is not available is the unspent TIF 1-22 bond dollars. I have a call into Senator Ourada and Representative Anderson. Senator Ourada informed me, he spoke with Representative Anderson who has not changed his position and now hears more businesses may be displaced. Based on this information, Wolfstellcr, Koropchak, and Chair Andrews agreed and infi:.mned Senator Ourada not to introduce the TIF 5-year extension bill in 2004. Ourada was thanked for his willingncss to introduce and support the bill. . 2 Kennedy 470 Pillsbury Center 200 South Sixth Street Minneapolis MN 55402 (612) 337-9300 telephone (612) 337-9310 fax http://www.kennedy-graven.cot11 ~. \ l) ROBERT J. LINDALL Attorney at Law Direct Dial (612) 337-9219 Real Property Law Specialist, Certified by Minnesota State Bar Assn. February 23, 2004 VIA FACSIMILE 763-295-4404 AND U.S. MAIL Ms. Olive Koropchak Executive Director Monticello HRA 505 Walnut Street, Suite 1 Monticello, MN 55362-8822 Re: Housing Redevelopment Authority in and for the City of Monticello v. Michael 1. O'Connor. et a1.; Wright County District Court File No. C2-01-1924 218 Front Street, Monticello, MN . Dear Ollie: Following my letter dated February 12, 2004, to Julie Latzig at John Peterson's office (copy of which is enclosed), I received a telephone call from Ms. Latzig on February 19, 2004, stating that Mr. O'Connor never received the City of Monticello's check no. #69323 in the amount 0[$3,331.52. Please ask your accounting department to confirm whether the check has been cashed. If it has been cashed, please provide me with both sides of the check evidencing endorsement. If the check has not been cashed, please void check no. 69323 and reissue a new check for that same amount payable to Michael O'Connor and send the check to me. Thank you. v~~ Robert J. LindaU RJL:peb Enclosure . RJL--244251 vI MN190-89 ~ ~_ I' . ) . f , ~ February 25, 2004 MONTlCELW Julie M.Latzig Johnson, Larson, Peterson & Matt, P.A. 908 Commercial Drive Buffalo, MN 55313 Re: Housing Redevelopment Authoritv in and for the City of Monticello v. Michael 1. O'Connor et al.; Wright County District Court File No. C2-0 1-1924 218 Front Street, Monticello, MN Dear Ms. Latzig: . Attached is a copy of a letter to Mr. Ken Helvery, Conworth, Inc., from John T. Peterson, Johnson, Larson, Peterson & Matt, P.A., dated June 18, 2002, acknowledging receipt ofthe $3,331.52 check (69323) from the Housing and Redevelopment Authority in and for the City of Monticello (I-IRA) to Michael O'Connor for the residential moving and relocation claim. The HRA would be happy to void check 69323 and re-issue a new check in the amount of$3,331.52 to Michael O'Connor upon the BRA receiving reimbursement for expenditures incurred by the HRA due to no negligence ofthe HRA. The bank cost to stop payment ofthe check is $25.00 and HRA attorney fees incurred total $135.27. Please submit the payment of $160.27 to the Monticello Housing and Redevelopment Authority, Attn: Ollie Koropchak, 505 Walnut Street, Monticello, MN 55362. I will be out-of:'the-office from March 1 through March 15. Should you have questions, please contact City Administrator Rick Wolfsteller at (763-295-2711). Sincerely, HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MONTICELLO, MJNNESOT A C0~ \~~0~.D~ Ollie Koropchak Executive Director Attachment . c: Robert J. Lindall, Kennedy & Graven O'Connor 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 FEB.24'2004 12:48 952 929 0568 .. CONWORTM lN~UK~U~~~U '/t'.lE ..U,.I :: ill v v"'", "'....... . . . JOHNSON, LARSON, PETERSON & MATT, P.A. A TTORNEYS AT LAW JAN C. LARSON+ JOHN T. PETERSON+ CJNDl S. MAlT 90S COMMERCIAl,.. DRIVE BUf"FALQ, MINNESOTA 553lS (J 63) 682--4550 FAX: (763) 682-4465 WEB: www..llpmlAw.com OF' COUNSEL THOMAS W. RICHARDS w~ VF.Jl.LY omCE (By Appointment On'y) + RtIIl ~t1y /.mtI SJI',d/lIJlt, Ct:ttl,ftd III MIllnuo'. SItIte BIIr AIlUdIl1l4" WALTER. S. JOHNSON /9/2-2(J(]2 June 18,2002 Mr. Ken Helvey Relocation Consultant/Owner Conworth, Inc. 4725 Excelsior Boulevard, Suite 200 Minneapolis, MN 55416 VIA FACSIMILE AND U.s. MAIL R.e: Mike O'Connor Property Dear Mr.. Helvey: Please find enclosed a copy of a June 17, 2002 letter I received. from Ollie Koropchak Executive Director of the Monticello HRA, which was addressed to you. I am not sure if this got routed to me in error, but I will hold onto the original check in the interim until such time as we can clarify the remainin.g issues. If you. recall, Mr. O'Connor's claim was for the sum. of $21,292.02 and. it was submitted to you by my letter dated May 23.2002. Please advise if they have forwarded a separate check to you for the balance due to my client or there are otn.er matters which need to be addressed. I would hope that the HRA is not attempting to argue that the Business Relocation. claim. was resolved at the time of th.e commissioners hearing. If so, it may be necessary for me to contact the commissioners for the purpose of obtaining statements reflecting that comments were made by council for the BRA that the relocation claims were not being decided by them. and only the compensation, for the taking of the property itself. . . . FE~.24'2004 12:49 952 929 0568 cONWORTH INCORPORATED ..Ill-CO t:.IJIJ.J/IJIJ:.J June 18, 2002 Page 2 I look forward to hearing from. you. May I remain, JTP/jal enclosure CC: Mi ke 0' Connor FEB.24'2004 12:49 952 929 0568 ". CONWORTH INCORPORhI1U ..1:lJ.CO t:.vV"/VIJ'" " - 1 ~ . # ~ LLJ June 17. 2002 i"." I rr> r::' .'7' .... ,., , {, ~:..;. '. - . " . " ,I . /. JUN I b IL~=-~.-~':"~'-_._.. ~ MON'l1CEU.O [(.en Helvey, R~location Consultant Conworth, Inc. 4725 EX.celsior Boulevard. Su i.te 200 Minneapolis. MN 55416 Subject: RdocJtion Claims for Michael OTonnor. 218 Front Street. Momi.ccllo. MN 55362. Dea.r Mr. Helvey: . Atr.ach~t.l i:; the: cher.:k paJ'a"[~ tn Michad O'Connor as uwhoJ'iled by tht: c(tmrnis::li~111C'rs 1.\1' the r-rllusing and Red~\ clopmemt AUlhority in ..lnd for lhe City or M~mticd[IJ. Minnesnw. on ,l1.me.: 5, 2002. This 'lmdLld~$ ~hc.:- HRA's obligution to Michild O"('onnor. Si llcerl!l y. HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY Of MONTr.c'ELLO Q)~. :. \~d'\ ~ ~-9~ Ollia: Koropch<lk Executive Din:ctor Anachm~nl c: BRA File Roger Bds.:las. Ma.yor . MQrIlicello City Hall. 505 Walnut Stn:cl. Suile I, Monticello. MN 55362-8831 .. (763) 295-27' I .. Fa,;: (763) 295-4404 Office of Public WOl'Q. 909 Golf COUrIie Rd.. Monticelll'. MN 55362 . (763) 295-3170 . Fax: (763) 271-3272 FEB. 24' 2004 12: 49 952 929 0568 _II . C~Of.i~.l:~~~~~~~ ACCOUNTS PAYABLE 505 WALNUT STREET. SUrTE 1 MQNT1CEUO. MN SS3S2 7G3-295-D11 DR! CHECK NO. 06/13/2002 69323 THREI;: 'THOUSAND THREE HUNDRED THIRTY ,ONE AND 52/100 DOLLARS ""':::I:~""" ...---, -....... p~v NO. 69323 MAAClI.ISl"nl ~.IlIOM\"IC!UO' p.o. 1CllI:7ilII MCNTJ;el.LO.. _lIO'IJ\ -'1"llIl1!llSo/Bl52 AMOUNT $3,331. S2 PAYTC ' MICHAEL O'CONNOR THE ORDEA OF DID e.., 3 2 ~III 1:0 q .0 Ui r;.. 1': 11;0 00 ~ /j~};~: ~OR ,00617 MICHAEL O'CONNOR ,.... -. ." -.. _. '-'" 06/13/2002 CHF;L:K ,:;q~?~ 'i"~' -"'I ~ & ACCOUNT P.O. #; INVOrc.F. nB~"'DTPTTO)T l.MOUln" : 13.46583.4399 :13.46583.4399 : " 218 FRONT STR RES. FIXED MOVING E 1,400.00 218 FRONT STR RES. INCID CLOSING 1,931.52 TOTAL 3,331.52 ~ ..', - ~. 'f. . I . . , .. II' " ".." ". '.,- ''':' 1. . .. :0', f. ,:f " '. .' . CflY OF MONTICfL.1.0. MONTICELLO. MN 55362 Feb-26-04 09:43 From-Kennedy' Graven +6123379310 T-579 P.D02lDD3 F-424 Transactions Copy of Listing Search for: MN190-o0089 Search by: Matter 10 Stage: W1P Type: (all) . MaUerJD/Client Sort Date Matter Description Component Trans. No. Prof Narrative Task Code Units Price Value 2/11/2004 RJL MN190-000891 City of Monticello FEES 0.10 180.00 18.00 683869 Acquisition of 21 8 Front Street/o'Connor Phone call with J. Latzig from J. Peterson's office 2/1212004 EQI MN190-000891 City of Monticello PC 20.00 0.20 4.00 684235 Acquisition of 21 B Front Street/o'Connor Photocopies 2/1212004 EOI MN190-00089/ City of Monticello PC 4.00 0.20 o.ao 684239 Acquisition of 218 Front street/O'Connor Photocopies 2/12/2004 EQI MN190-000891 City of Monticello POST 1.00 1.80 1.80 684288 Acquisition of218 FrontStreetlO'Connor Postage 2/1212004 RJL MN190-00069/ City of Monticello FEES 0.30 180.00 54.00 684539 Acquisition of 218 Front Street/O'Connor . Voicemail from J. Peterson's office; in1raoffice conference; review file; dictate letter to J. Peterson's office re payment of residential relocation claim 2/16/2004 RJL MN190-00089/ City of MonticellD FEeS 0.10 160.00 18.00 685346 Acquisition of 218 FrOnt Street/O'Connor Voicemails from K. Helvey and J. Peterson's office 2/1812004 RJL MN 190-00089 / City of Monticello FEES 0.10 180.00 18.00 685386 Acquisition of 218 Front Street/o'Connor Voicemail from Julie L.atzig 2/23/2004 EQI MN19CJ..000891 City of Monticello FAX 3.00 0.50 1.50 686035 Acquisition of 218 Front Street/O'Connor Fax 2/2312004 EOI MN 190-00089 I City of Monticello PC 4.00 0.20 0.80 686036 Acquisition ot 218 Front Street/O'Connor Photocopies 2/2312004 EQI MN190-o00B9/ CIty of Monticello POST 1.00 0.37 0.37 686070 AcquIsition of 218 Front Street/o'Connor Postage . .tU.b1LUU4l:1;.:S~ AM I-'age: I" Feb-26-04 09:43 From-Kennedy' Graven Transactions Copy of Listing .search for. MN19lJ-000lI9 Search by: Matter ID Slage: W1P Type: (all) MatterlD/cllent Sort Matter Description Prof Narrative RJL MN190-00089/ City of Monticello Acquisition of 218 Front Street/O'Connor Revise letter to Koropchak Date Trans. No. 2/2312004 6B6191 . . +6123379310 Component Task Code FEES Grand Total T-579 P.D03/003 F-4Z4 Units 0.10 .,).,j,fU Price 180.00 Value 18.00 l.:s~.Lf :lI:lb/:.!UU4 !::I:.:s:> AM t-'ags: :.!