EDA Minutes 02-10-2016MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, February 1011, 2016 — Mississippi Room, Monticello Community Center
Present: Tracy Hinz, Jim Davidson, Steve Johnson, Tom Perrault
Absent: Bill Demeules, Bill Tapper, Lloyd Hilgart
Staff: Angela Schumann, Jeff O'Neill, Wayne Oberg
Others: Terri Sweet (Monticello Times)
1. Call to Order
Tracy Hinz called the meeting to order at 6:00 p.m.
2. Roll Call
Hinz called the roll. Hinz, Davidson, Johnson and Perrault were in attendance.
3. Approve meeting minutes
STEVE JOHNSON MOVED TO APPROVE THE DECEMBER 9TH, 2015 SPECIAL MEETING
MINUTES. JIM DAVIDSON SECONDED THE MOTION. MOTION CARRIED 4 -0.
TOM PERRAULT MOVED TO APPROVE THE DECEMBER 9TH, 2015 REGULAR
MEETING MINUTES AS CORRECTED. STEVE JOHNSON SECONDED THE MOTION.
MOTION CARRIED 4 -0.
STEVE JOHNSON MOVED TO APPROVE THE JANUARY 13TH, 2016 SPECIAL MEETING
MINUTES. TOM PERRAULT SECONDED THE MOTION. MOTION CARRIED 4 -0.
JIM DAVIDSON MOVED TO APPROVE THE JANUARY 13TH, 2016 REGULAR MEETING
MINUTES. TOM PERRAULT SECONDED THE MOTION. MOTION CARRIED 4 -0.
4. Consideration of adding items to the agenda
• EDA Stipend (Schumann)
• Land Use Application (Schumann)
5. Consideration of approving payment of bills
TOM PERRAULT MOVED TO APPROVE PAYMENT OF BILLS THROUGH JANUARY
2016. JIM DAVIDSON SECONDED THE MOTION. MOTION CARRIED 4 -0.
6. Annual Business Meeting
a. Consideration to elect EDA officers
Tracy Hinz proposed tabling this item due to the absence of several Commissioners.
EDA Minutes: 02/10/16
TOM PERRAULT MOVED TO TABLE ELECTION OF OFFICERS UNTIL THE MARCH
9TH EDA MEETING. STEVE JOHNSON SECONDED THE MOTION. MOTION CARRIED
4 -0.
b. Consideration to review EDA Bylaws and Enabling Resolution
Schumann noted that City staff and the EDA's attorney had reviewed the Bylaws and
Enabling Resolution and proposed no amendments at this time.
c. Consideration of 2016 consulting legal and financial appointments
Schumann reported that the City Council had approved staff's recommendation to
designate Northland Securities as the City's financial consultant and Kennedy & Graven
as the EDA's general counsel for 2016. She noted that, in the future, staff would ask that
the EDA take action to annually recommend consulting legal and financial appointments
for City Council consideration.
d. Consideration of EDA fund balance information
Wayne Oberg presented the 2015 EDA Balance Sheet. He explained that about a third of
the $3,875,237 listed as a total cash and investments is available for EDA use.
Oberg also reviewed the 2015 Statement of Revenues, Expenditures and Changes in Fund
Balance. He pointed out that adjustments to land held for resale are made as appropriate
to reflect the County value. He also pointed out that $44,497 had been transferred from
the EDA General Fund to a TIF Future Fund to be used for a Block 34 TIF District yet to
be created.
Oberg provided an overview of the 2016 Budget. He noted that most of the TIF activity
can be attributed to TIF 1 -22.
Oberg also distributed a worksheet detailing investment market values, investment
income, and investment returns. He reported that the EDA had received $52,000 from
City -wide investments.
Oberg noted that final numbers will not be available until July.
7. Consideration of Market Matching report
Angela Schumann indicated that WSB consultant John Uphoff was not available to provide a
Market Matching report. She noted that she would be meeting with the Market Matching
team to discuss the month -to -month contract moving forward and would report back to the
EDA in March. She noted that the intent was to scale back the contract significantly once an
Economic Development Manager position has been hired.
Schumann explained that Market Matching staff continue to assist with responding to day -to-
day inquiries on behalf of Monticello. She pointed out that she would be speaking with
Uphoff about a prospect later in the week. Schumann also noted that the collateral material
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EDA Minutes: 02/10/16
would be updated in the near future.
8. Consideration of 2016 Manufacturer's Week publication participation
Terri Sweet indicated that the Monticello Times would like to take a more active role in
promoting Monticello. Sweet proposed partnering with the EDA and City staff to develop a
publication which could be used as a marketing tool to encourage industrial development.
Sweet pointed out that the EDA and City staff would be asked to direct the content of the
publication and provide $3,000 in seed money which would enable staff at the Monticello
Times to assist with writing, formatting, printing and distributing the publication. She
provided examples of the type of content such a publication might include and pointed to
some preliminary publication and cost estimates.
Commissioners asked questions related to how the publication would differ from other
marketing materials, its intended target audience, how it would be distributed, how it would
fit into the broader EDA marketing plan, and the impact of the proposed expense on the
EDA's marketing budget.
Schumann pointed out some of the gaps in information currently available for distribution.
Jeff O'Neill noted that this publication may be useful as a recruitment tool for employers
within the manufacturing community. Schumann also suggested it would be of use to
brokers, bankers, realtors and the Wright County Economic Development Partnership.
Schumann suggested that staff would continue to work with the Monticello Times to further
outline the parameters of such a publication and address the questions noted.
JIM DAVIDSON MOVED TO TABLE ACTION FOR FURTHER RESEARCH AND
DISCUSSION. TOM PERRAULT SECONDED THE MOTION. MOTION CARRIED 4 -0.
Hinz noted that Tom Perrault left the meeting at 7:07 p.m.
9. Consideration of Director's Report
Market Matching Services — Schumann indicated that she would provide a revised
scope of services related to the Market Matching contract and an update as to the status
of the Economic Development Manager position at the next regular EDA meeting. She
noted that funding would be redirected from other sources within the EDA budget to
cover the cost of continuing the month -to -month Market Matching Services beyond the
amount budgeted which will be depleted by the end of March.
Wilson Development Services — Schumann indicated that she had also asked that
Wilson Development Services provide a proposal for a new scope of services for
acquisition and relocation assistance related to achieving EDA objectives.
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10. Consideration of adding items to the agenda
• EDA Stipend (Schumann) — The Personnel Committee plans to bring forward a
recommendation that the City Council establish a $50 per meeting attendance stipend for
EDA members. EDA members have the option of choosing not to accept the stipend.
• Land Use Application (Schumann) — Schumann noted that the EDA would be asked to
consider action to amend the TIF 1 -35 Management Plan to allow ground floor residential
housing at the corner of Locust and 3rd Street (Landmark II) at an upcoming meeting in
response to pending Planning Commission action related to a rezoning to CCD Residential
Overlay District on this site.
11. Adjourn
STEVE JOHNSON MOVED TO ADJOURN THE MEETING AT 7:13 PM. JIM
DAVIDSON SECONDED THE MOTION. MOTION CARRIED 3 -0.
Recorder: Kerry Burri 1�9?
Approved: Margh 9, 201,
Attest:
Angela Schu*A, r/OOmmu�ity I)evelopment Director
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