EDA Minutes 05-24-2011 (Special Meeting)SPECIAL MEETING MINUTES
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Tuesday, May 24, 2011- 7:00 a.m.
Commissioners Present: President Bill Demeules, Treasurer Bill Tapper, Tracy Hinz, Matt
Frie, and Council Members Tom Perrault and Brian Stumpf
Staff: Executive Director Megan Barnett - Livgard, City Administrator Jeff
O'Neill
Other: Barry Fluth
1. Call to Order
Bill Demeules called the meeting to order at 7:00 a.m.
2. Consideration of additional a¢enda items None
3. Discuss Landmark II Development
Staff asked that the EDA meet with developer Barry Fluth to determine how to address his
concern about the parcel he owns in downtown Monticello. TIF District #135 had been
originally created to allow for the development of a commercial building on this parcel.
The project has been on hold since the economy slowed. The EDA had agreed to work with
Mr. Fluth to subsidize a TIF obligation of $180,000 on the parcel but, since there has been
no development or tax increment generated, the EDA cannot pay that obligation.
Barry Fluth would like to move forward with developing or exploring the option of selling
his property. Last year City Council denied his rezoning request to develop a market rate
apartment complex on the parcel. He is currently exploring a design which would include
commercial on the main floor with residential above.
The Embracing Downtown Study concept plan does not recommend residential use for this
parcel but instead suggests combining it with other parcels for a junior tenant retail
building. Jeff O'Neill pointed out that the study identified a market for additional retail and
that the reorganization of that area would address that opportunity.
Staff asked if the EDA might have an interest in working with Barry Fluth to either
purchase this parcel from him for future development as directed by the Embracing
Downtown Plan or negotiate a trade for City -owned property more suitable for residential
purposes. Barry Fluth had previously expressed an interest in selling the property by
responding to the inquiry distributed by the EDA to downtown land and business owners.
He stated that he'd prefer to do commercial development but it is difficult to obtain
financing. He wouldn't be interested in negotiating a trade for commercial property unless
there were viable tenants associated with the property.
Special Economic Development Authority Meeting Minutes - 05/24/11
Staff pointed out that this may be an opportunity to combine parcels to create a catalyst
redevelopment project. The Embracing Downtown consultants would utilize a bubble plan
as part of their recommended concept design. This would establish reference points for
land use and development rather than focusing on rigid guidelines.
Responses from the EDA were varied as to how to proceed. They reviewed a map of the
downtown area and spoke of other City -owned properties which may be of interest. There
was some discussion about the need to get something developed as well as some
consideration of purchasing the property for future use while values are low. Staff made it
clear that since there had been demolition on the parcel it would not be eligible as a
redevelopment district but could possibly be considered an economic development district.
The general consensus seemed to be to begin working with Barry Fluth to determine what
options might be most appropriate to address this issue. Staff agreed to bring some type of
preliminary agreement for EDA consideration to the June meeting.
4. Adiourn
BILL TAPPER MOVED TO ADJOURN THE MEETING AT 7:25 AM. BRIAN
STUMPF SECONDED THE MOTION. MOTION CARRIED 6 -0.
Recorder: Kerry T. Burri
Approved: June 22, 2011