EDA Minutes 11-10-2010Economic Development Authority Minutes 11/10/10
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
MEETING MINUTES
Wednesday, November 10, 2010 - 6:00 p.m.
Commissioners Present: President Bill Demeules, Treasurer Bill Tapper, Bill Fair, Tracy Hinz,
and Council members Tom Perrault and Brian Stumpf
Commissioners Absent: Vice President Dan Frie
Staff. Executive Director Megan Bamett- Livgard
1. Call to Order
Demeules called the meeting to order at 6:00 p.m. noting the absence of Dan Frie.
2. Approve Meeting Minutes
a. October 13, 2010 Regular EDA Meeting Minutes
MOTION MADE BY FAIR TO APPROVE THE OCTOBER 13, 2010 REGULAR
EDA MINUTES. MOTION WAS SECONDED BY TAPPER. MOTION CARRIED
6 -0.
3. Consideration of additional agenda items.
Demeules noted that agenda item #6 would be moved to agenda item #10 in the agenda
as Tapper would abstain.
4. Approval of EDA Invoices
Demeules suggested that the EDA begin tracking project completion against dollars spent
with the McComb Group and the Embracing Downtown study. Barnett noted that the EDA
had funded the project in 2010 and the City funds were allocated as part of the 2011 budget.
She indicated that, beginning in 2011, the Finance Department would allocate a certain
percentage per fund. Barnett stated that the EDA paid a retainer to McComb Group once
the project was closer to completion funds would be deducted from the retainer.
Commissioner Perrault questioned the Bullfrog Sweatshop invoice. Barnett indicated
that it had to do with two banners that were purchased. He was also looking for
clarification related to the costs listed on statements 3862 and 3862A for the
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McCombs invoice for Professional Services. Barnett agreed to check into that and email
the response to the EDA. She noted that the invoice could be paid in full and, if there were
changes required, these could be deducted from the next invoice.
MOTION WAS MADE BY FAIR TO APPROVE THE INVOICES WITH THE
UNDERSTANDING THAT THE EXPENDITURE ON THE BALANCES FOR
MCCOMB GROUP INVOICES WOULD BE CLARIFIED. MOTION WAS
SECONDED BY STUMPF. MOTION CARRIED 6 -0.
5. Consideration of extending the Preliminary Development Agreement between EDA
and Rocky Mountain Group.
Barnett noted that the Preliminary Development Agreement between the EDA and Rocky
Mountain Group had expired and the applicant had requested a contract extension for six
months in order to sell their existing building in Ramsey.
Joe Dahlheimer from the Rocky Mountain Group stated that they are getting some
inquiries on the property and he felt that a six month extension should be enough time to
sell the existing building and move forward with the project.
Barnett noted that if the building hasn't sold by July 1" the EDA could offer another
extension. Commissioner Tapper indicated that the risk would be that someone else would
want that property. Barnett stated that the City has ample property to offer other
businesses.
MOTION BY STUMPF TO APPROVE A SIX MONTH EXTENSION TO THE
PRELIMINARY DEVELOPMENT AGREEMENT BETWEEN ROCKY MOUNTAIN
GROUP AND THE MONTICELLO EDA. MOTION WAS SECONDED BY TAPPER-
MOTION CARRIED 6 -0.
6. Consider request to amend GMEF 024 Loan Agreement between the Monticello
EDA and Tapper Holdings Inc. for GMEF Loan #024
This agenda item has been moved to item #10.
Consideration of entering into a Listing Agreement with Wayne Elam of Commercial
Realty Solutions
Barnett noted that the listing agreement with Wayne Elam through Vantage Point Partners
had expired. She indicated that staff would like to continue to work with Elam through
Commercial Realty Solutions as he has been a great resource in bringing business into
Monticello and in representing the City at various conferences. Barnett confirmed that the
terms of this agreement would be consistent with those of the previous agreement and
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that the contract could still be cancelled with 30 days written notice.
Wayne Elam noted that the only change to the terms would be a flat transaction fee rather
than charging a percentage basis for any present property owners in the industrial park. He
indicated that this would be a cost savings to the City.
MOTION BY FAIR TO APPROVE ENTERING INTO A LISTING AGREEMENT
WITH COMMERCIAL REALTY SOLUTIONS. MOTION WAS SECONDED BY
TAPPER. MOTION CARRIED 6 -0.
Barnett clarified that the listing agreement is only for Monticello Business Park Monticello
Business Center.
8. Authorizing a $2,500 City Platinum Sponsor for the NAIFC Qualifying Ice Fishing
Tournament to be held in Monticello in January 2011
Barnett noted that, although this agenda item had been discussed at a previous meeting, she
felt it important to bring it back before the EDA due to an increase in interest to obtain the
NAIFC tournament on Pelican Lake. She stated the ice fishing tournament is the type of
event which would draw interest from the greater region to Monticello. The three day event
would bring in more than 300 fishing participants spending dollars locally. She indicated
that sponsorship money would come from the 2011 marketing budget and pointed out that
there are other organizations also sponsoring the event.
MOTION MADE BY STUMPF TO APPROVE $2,500 PLATINUM SPONSORSHIP
FOR THE NAIFC ICE FISHING TOURNAMENT TO BE UTILIZED FROM THE 2011
MARKETING BUDGET. MOTION SECONDED BY TAPPER. MOTION CARRIED
5 -1 WITH PERRAULT OPPOSED.
Perrault noted that the EDA would be using one eighth of its marketing budget and
thought it more appropriate to sponsor at a lesser amount.
9. Marketing Update
Marketing update information was provided in the Director Report.
a. Conferences
b. Website
C. Concierge Team
Barnett noted that the Business Retention & Expansion (BR &E) Team findings had
highlighted the lack of a central gathering place for information after businesses are
established within the community and a general lack of communication about community
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resources. She indicated that instituting a Concierge Team would address these issues.
Barnett explained that there would be a Concierge tab on the economic development
website which would act as a portal to information. Staff would put together a strategy
including site visits, printed and electronic resource guide.
10. Consider request to amend GMEF 024 Loan Agreement between the Monticello
EDA and Tapper Holdings Inc. for GMEF Loan #024
This agenda item had been moved from item #6. Bill Tapper left the meeting to abstain
from discussion.
Barnett indicated the applicant had requested the GMEF loan agreement terms be extended
three years. She noted that this is something that the EDA can do to help existing
businesses in these challenging times. She pointed out that the City would gain extra
interest because the loan would be amortized differently. She noted that the applicant had
never missed a payment.
Chairman Demeules suggested that it would be best to bring loan and project extensions to
the attention of the EDA prior to the expiration date. Barnett agreed.
MOTION MADE BY FAIR TO ADOPT RESOLUTION #2010 -69 APPROVING AN
AMENDMENT OF THE LOAN AGREEMENT BETWEEN THE MONTICELLO EDA
AND TAPPERS HOLDINGS UNDER THE TERMS SPECIFIED. MOTION WAS
SECONDED BY PERRAULT WITH THE CONDITION THAT THE ERROR IN THE
RESOLUTION AMOUNT BE CORRECTED TO $200,000. MOTION CARRIED 5 -0.
11. Director Report
Barnett included a written Director Report as part of the agenda packet submitted to the
EDA.
There were some questions related to the value of trying to sell residential EDA property
in the current market conditions. Barnett noted she had contacted a local real estate agent
regarding current land pricing. The agent stated land prices for a residential parcel are
somewhere in the range of 10,000- 15,000. Tapper suggested the EDA hold off on selling
property until the Embracing Downtown study has been completed.
12. Adjournment
MOTION MADE BY STUMPF TO ADJOURN. MOTION WAS
SECONDED BY PERRAULT. MOTION CARRIED 5 -0.
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The meeting adjourned at 6:42 p.m.
Recorder: Kerry T. Burri 4
Approved: December 15, 2016 EDA Meeting
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