EDA Minutes 04-13-2016MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, April 13, 2016, Mississippi Doom, Monticello Community Center
Present: Bill Demeules, Bill Tapper, Tracy Hinz, Jim Davidson, Steve Johnson, Tom
Perrault, Lloyd Hilgart
Absent: None
Others: Angela Schumann, Jeff O'Neill, Wayne Oberg, Jim Gromberg, WSB, Martha
Ingram, Kennedy and Graven
1. Call to Order
Bill Demeules called the meeting to order at 6:00 p.m.
3. Approval of Minutes
IT WAS REPORTED THAT THE MINUTES FOR MARCH 9TH, 2016 SPECIAL AND
REGULAR MEETINGS ARE NOT YET COMPLETED. NO ACTION REQUIRED.
4. Consideration of adding items to the agenda None
5. Consideration of approving payment of bills
TAPPER MOVED TO APPROVE PAYMENT OF BILLS THROUGH MARCH 2016.
HINZ SECONDED THE MOTION. MOTION CARRIED 7 -0.
6. Consideration of Marketing Partnership with Monticello Times for 2016
Manufacturing Magazine
Discussion ensued regarding the timing and the applicability of the proposed marketing
effort. The Monticello Times is committed to this partnership and will make it work
including negotiating on the price quote.
HINZ MOVED TO APPROVE THE MARKETING PARTNERSHIP WITH THE
MONTICELLO TIMES FOR THE 2016 MANUFACTURING MAGAZINE IN THE
AMOUNT OF $2,500. HILGART SECONDED THE MOTION. MOTION CARRIED
6 -1. (TAPPER VOTED NO)
7. Consideration of Resolution EDA- 2016 -002 approving an Assignment and
Assumption of Contract for Private Development between Masters 5th Avenue and
the Monticello EDA for Tax Increment Financing District 1 -22 as related to the
Landmark II project
EDA Minutes: 4/13/16
Discussion ensued regarding the assignment impacts on the proposed real estate
transaction. Martha Ingram, EDA legal counsel, clarified that while this approval is not
required under the contract because the developer has already received a certificate of
occupancy, if the EDA withholds its assignment consent, it could cause some problems
for the lender(s) involved in the proposed real estate transaction.
TAPPER MOVED TO ADOPT RESOLUTION EDA - 2016 -002 APPROVING AN
ASSIGNMENT OF CONTRACT FOR PRIVATE DEVELOPMENT BETWEEN
MASTERS 5TH AVENUE AND THE MONTICELLO EDA FOR TAX INCREMENT
FINANCING DISTRICT 1 -22. HILGART SECONDED THE MOTION. MOTION
CARRIED 7 -0.
8. Consideration to direct preparation of an Amendment to the Contract for Private
Development between Masters 5th Avenue and the Monticello EDA and modification
of Tax Increment Financing Plan for Tax Increment Financing District 1 -35
Angela Schumann explained the proposed adjustment to the contract as a desire by
the developer to pursue a multi - family residential only development. It was noted
that the City Council will be reviewing a concept PUD residential only proposal for the
site at an upcoming meeting and it might be reasonable to have the EDA defer acting on
this until after the Council review and comment is completed.
JOHNSON MOVED TO TABLE THE PREPARATION OF AN AMENDMENT TO
THE CONTRACT FOR PRIVATE DEVELOPMENT BETWEEN MASTERS 5TH
AVENUE AND THE MONTICELLO EDA AND MODIFICATION OF TAX
INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT 1 -35.
TAPPER SECONDED THE MOTION. MOTION CARRIED 7 -0.
9. Consideration of contract notice for Market Matching services with WSB
Discussion ensued regarding an optimal contract termination date for Market Matching
Services. Further comments regarding the outcomes and how to measure the
effectiveness of the relationship. Jim Gromberg noted that the Market Matching is a
relatively new service offered by WSB and measurement tools while helpful may not be
the sole indicator of success of the relationship. Once the contract is terminated, it may
be prudent and reasonable to form a new relationship with different service levels
between the City and WSB.
JOHNSON MOVED TO TERMINATE THE CONTRACT WITH MARKET
MATCHING SERVICES WITH WSB EFFECTIVE JUNE 1, 2016. TAPPER
SECONDED THE MOTION. MOTION CARRIED 4 -3 (DAVIDSON, PERRAULT,
AND HILGART VOTED NO).
10. Consideration of Director's Report
2
EDA Minutes: 4/13/16
11. Adjournment
TAPPER MOVED TO ADJOURN THE MEETING AT 6:45 PM. HINZ SECONDED
THE MOTION. MOTION CARRIED 7 -0.
Recorder: Kerry Burri
Approved:
Attest: t hares, EDA Manager