EDA Agenda 10-12-2011EDA MEETING
Wednesday, October 12, 2011
6:00 p.m.
Mississippi Room - 505 Walnut Street, Monticello, MN
Commissioners: President Bill Demeules, Vice President Bill Tapper, Treasurer Tracy Hinz, Matt Frie,
Bruce Hamond, and Council members Tom Perrault and Brian Stumpf
Staff: Executive Director Megan Barnett
1. Call to Order
2. Approve Meeting Minutes:
a. September 7, 2011 Special EDA Minutes
b. September 14, 2011 EDA Minutes
3. Consideration of additional agenda items
4. Approval of EDA Invoices
5. Consideration of Adopting a Resolution Authorizing a Tax Increment Pledge Agreement
Relating to the Sale of G. O. Refunding Bonds, Series 2011A.
6. Consideration of authorizing the City to be a sponsor of the NAIFC Fishing Tournament
7. Director Report
8. Adjourn
"Proceed to workshop with the Monticello Downtown Business
Association (MDBA) to discuss the Embracing Downtown Study
6:30pm — 7:30pm
MINUTES
SPECIAL MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, September 7,2011 - 7:30 a.m.
Academy Room, Monticello Community Center
Commissioners Present: President Bill Demeules, Treasurer Bill Tapper, Tracy Hinz, and
Council Members Tom Perrault and Brian Stumpf
Commissioners Absent: Matt Frie, Bruce Hammond
Staff: Executive Director Megan Barnett - Livgard
1. Call to Order
The special meeting was called to order at 7:30 a.m.
2. Purpose
The purpose of the special meeting was to present two options for the EDA to consider:
providing a GMEF loan to Monticello Pet Hospital and obtaining an appraisal for two
buildings in downtown Monticello.
3. Consideration of providing a GMEF loan to Monticello Pet Hospital
The owners of the Monticello Pet Hospital had asked the EDA to assist with gap financing
so that they could move forward with building their new facility. Their original request was
for $286,000 in assistance as their bank appraisal had come in extremely low. A revised
bank appraisal results in a gap to be financed of $50,000. Staff noted that funds are
available for this purpose through the GMEF fund and agreed to bring loan documents to
the next regular EDA meeting for review and consideration.
4. Consideration of obtaining an appraisal for two buildings in downtown Monticello
Relocation Specialist Dan Wilson contacted the owner of the Montgomery Farms building
downtown about selling their building located at the corner of Highway 2575. Mrs.
Montgomery is interested in selling both of her buildings at one time.
Staff noted the importance moving forward with purchasing the dental building as a key
part of following through with the Embracing Downtown Monticello Plan. Although it
isn't essential that the EDA purchase 112 Broadway at this time it is part of the long term
plan for the downtown. The "dental" office is located at the 25/75 intersection and would
be affected by the ultimate intersection improvements.
Economic Development Authority Minutes 09/07/11
Staff asked that the EDA consider approving an appraisal of both properties in order to
continue to move forward with purchasing these properties. It is recommended that the
EDA utilize MNDOT's preapproved appraiser list for appraisals which involve road
improvements for right -of -way in the case of a dispute involving value or price. Although
Dan Wilson has worked with, and is comfortable with, all three appraisers who provided
estimates, he recommended obtaining an appraisal from Jason Messner at a cost of
$10,000. The other two appraisal estimates were $8,500 and $7,800. The EDA asked
questions about the condemnation process briefly discussed the appraisal options.
TRACY HINZ MOVED TO RECOMMEND THAT THE EDA ACCEPT A MNDOT
APPROVED APPRAISAL FOR PROPERTIES AT 100 & 112 BROADWAY AT A
COST OF $7,800. MOTION WAS SECONDED BY BILL TAPPER. MOTION
CARRIED 5 -0.
5. Adiournment
BILL TAPPER MOVED TO ADJOURN THE SPECIAL MEETING AT 7:48 AM. BILL
DEMEULES SECONDED THE MOTION. MOTION CARRIED 5 -0.
Recorder: Kerry T. Burri
Date Approved: October 12, 2011
Attest:
Megan Barnett- Livgard
MINUTES
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, September 14,2011 - 6:00 p.m.
Commissioners Present: President Bill Demeules, Treasurer Bill Tapper, Tracy Hinz, Matt Frie,
Bruce Hamond, and Council Members Tom Perrault and Brian Stumpf
Staff. Executive Director Megan Barnett - Livgard, Finance Director Tom Kelly
Others: Brad Barger, Linda Jacobson
1. Call to Order
Bill Demeules called the meeting to order at 6 p.m.
2. Approve Meeting Minutes
TOM PERRAULT MOVED TO APPROVE THE AUGUST 10, 2011 SPECIAL JOINT
EDA -CITY COUNCIL MINUTES AS CORRECTED. MOTION WAS SECONDED BY
BILL TAPPER. MOTION CARRIED 7 -0.
BILL TAPPER MOVED TO APPROVE THE AUGUST 15, 2011 EDA MINUTES.
MOTION WAS SECONDED BY TOM PERRAULT. MOTION CARRIED 6 -0.
3. Consideration of additional agenda items None
4. Approval of EDA Invoices
BILL TAPPER MOVED TO APPROVE THE INVOICES. MOTION WAS SECONDED
BY BRUCE HAMOND. MOTION CARRIED 7 -0.
5. Continued Public Hearing — Consideration of Adoption Resolution #2011 -73 and
#2011 -74 approving a purchase and redevelopment contract between the EDA and
Suburban Manufacturing, the Business Subsidy Agreement, the conveyance of land,
and an Interfund Loan.
This public hearing had been introduced during the EDA's August W meeting and was
continued to the September meeting to provide additional time for negotiations. It is
associated with the establishment of TIF District No. 1 -39 as an Economic Development
District to assist in the write -down of land and infrastructure costs to Suburban
Manufacturing and approval of the TIF Plan. A proposed interfund loan would assist in
writing down the purchase. The EDA would repay the loan over nine years with funds
from the newly established TIF District.
Economic Development Authority Minutes 09/14/11
At their August 22nd meeting, the City Council approved Otter Creek 4th Addition
creating a 4.4 acre site along Chelsea Road and Dalton Way for the development of
Suburban Manufacturing's new facility.
According to Ehler's, Otter Creek cost the EDA $2.41 /square foot based on land purchase
price and improvements. In the past the EDA has attempted to structure business
subsidies that would result in a payback equal to the cost of the land and improvements.
Banks are now requiring higher loan to value ratios, land appraisals are coming in lower,
and developer cash requirements are higher. These conditions require that participating
parties need be more creative and aggressive in order to make new projects happen.
The proposed business subsidy will consist of selling 4.4 acres at a price of .25 cents per
square foot. The approximate "write down" is $413,994 and the project will generate
approximately $375,736 of TIF dollars over nine years.
While the EDA may not be fully reimbursed for the initial land cost of Otter Creek, the
benefits of assisting a local company with an expansion are great. The project will
generate 14 new livable wage jobs, create new long term tax base, and allow Suburban to
lease to a company that will locate in Monticello.
Brad Barger spoke about Suburban's intention to lease or sell their existing property.
Several companies have already inquired about the space.
The public hearing was opened. Hearing no public comment, the public hearing was
closed.
BRIAN STUMPF MOVED TO ADOPT RESOLUTION #2011 -73 APPROVING THE
PURCHASE AND REDEVELOPMENT CONTRACT BETWEEN THE CITY OF
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY AND SUBURBAN
MANUFACTURING INC., THE BUSINESS SUBSIDY AGREEMENT AND
CONVEYANCE OF LAND; AND RESOLUTION #2011 -74 AUTHORIZING AN
INTERFUND LOAN FOR ADVANCE OF CERTAIN COSTS IN CONNECTION WITH
TAX INCREMENT FINANCING DISTRICT 1 -39. MOTION WAS SECONDED BY
TRACY HINZ. MOTION CARRIED 7 -0.
6. Consideration of approving a Greater Monticello Enterprise Fund (GMEF) loan for
Jacobson Veterinary Properties LLC
Linda Jacobson spoke briefly in support of her request that the EDA grant a GMEF loan in
the amount of $50,000 to assist in the purchase of property and construction costs
associated with the development of a new 6,800 square foot veterinary clinic. The clinic
will create three new jobs and has the potential to create an additional twelve jobs in the
future.
Economic Development Authority Minutes 09/14/11
GMEF guidelines allow funds to be allocated towards real estate purchases and
construction associated costs. The loan terms are 3% interest rate with a three year pay off.
BILL TAPPER MOVED TO ADOPT RESOLUTION # 2011- 96APPROVING A GMEF
LOAN FOR JACOBSON VETERINARY PROPERTIES LLC IN THE AMOUNT OF
$50,000. MOTION WAS SECONDED BY MATT FRIE. MOTION CARRIED 7 -0.
Consideration of Decertification of Tax Increment District 1 -31 (UMC)
Finance Director Tom Kelly outlined the status of Tax Increment District 1 -31 - an
economic development district which was created for Ultra Machining Company (UMC)
in 2002 - and noted the restructuring option available at this time.
The EDA could consider retiring the existing pay -as- you -go note payable to UMC with the
December payment and decertify TIF District 1 -31 as of 12/31/11. Choosing to decertify
the district one year early would add tax capacity to the City's general tax base and
possibly lower future tax rates. It would also reduce pay -as- you -go note commitments and
save $623.68 in interest costs in 2012. The EDA could consider transferring its remaining
cash balance of $69,273 in TIF District 1 -31 to TIF District 1 -38 to help pay a portion of
the cash shortage projected on its interfund loan.
BILL TAPPER MOVED TO APPROVE PAYING OFF THE UMC PAY -AS- YOU -GO
NOTE AT END OF 2011; AND TO ADOPT RESOLUTION # 2011 -97 APPROVING
DECERTIFICATION OF TIF DISTRICT 1 -31 AND TRANSFER THE CASH
BALANCE TO TIF DISTRICT 1 -38. MOTION WAS SECONDED BY BRIAN
STUMPF. MOTION CARRIED 7 -0.
8. Director Report
Staff noted that the public hearing notice to amend TIF District 1 -5 would be re- published
so that the EDA could move forward in its determination about how to utilize those funds.
It is anticipated the public hearing will occur at a City Council meeting in late October.
9. Adiournment
BILL TAPPER MOVED TO ADJOURN THE MEETING AT 6:24 PM. MOTION WAS
SECONDED BY TOM PERRAULT. MOTION CARRIED 7 -0.
Recorder: Kerry T. Bum _
Approved: October 12, 2011
Attest:
Megan Barnett - Livgard, Executive Director
4. APPROVAL OF INVOICES:
a. Kennedy and Graven $1,872.00
*Suburban Manufacturing TIF assistance
b. Wilson Development $450.50
*Acquisition of property
c. Wright County Auditors $865.70
*Garden Center property special assessments
d. Monticello Chamber $40.00
*Industry of the Year invitation
e. American Community News $395.55
*TIF disclosure notice in the Monticello Times
f. Rod Dragsten
*Landmark Appraisal
$400.00
g. Cornerstone Cafe $822.02
*Breakfast for the 2011 Industry of the Year Event
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Monticello Chamber of Commerce
05 Pine Street
P.O. Box 192
Monticello, MN 55362
Bill To
Monticello City of
Cathy Shuman
505 Walnut Street Suite #1
Monticello, MN 55362
Invoice
Date
Invoice #
9/6/2011
4323a
0 -d -
V
Due Date
9/26/2011
Description
Amount
Insert in Chamber Monthly Newsletter
Month of. June 2011 (City Business News - Megan)
40.00
Total $40.00
763-295-2700 info@monticellocci.com http://wAw.monticellocci.com
AFFIDAVIT OF PUBLICATION
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
Richard Hendrickson, being duly sworn on an
oath, states or affirms that he is the Chief
Financial Officer of the newspaper(s) known
as Monticello Times and has full knowledge of
the facts which are stated below.
(A) The newspaper has compiled with all of
the requirements constituting qualification
as a qualified newspaper as provided by
Minn. Stat. § 331A.02, § 331A.07, and
other applicable laws as amended.
(13) The printed public notice that is attached
was published in the newspaper once
each week for one successive
week(s); it was first published on Thurs-
day, the 4 day of August ,
2011, and was thereafter printed and
published on every Thursday to and
including Thursday, the day of
, 2011; and printed
below is a copy of the lower case alphabet
from A to Z, both inclusive, which is here-
by acknowledged as being the size and
kind of type used in the composition and
publication of the notice:
abcdelghijkl mnopgrstuvwxyz
Title: CFO
Subscribed and sworn to or affirmed before
me on this 4 day of August 2011.
.1.r3't
otary Public
.. meaasaxaa���,rere�cg' '
JULIA I I-IELI(1-NN
NOTARY PUBLIC - ktiNNESOTA
`�.. f1y Comm. Explrcn ,lint :41.2015
City of Monticello
(Official Publication)
City of Monticello
Annual Disclosure of Tax Increment Districts for the Year Ell ece er 39
A
TIFUstricINFAuc:
ThxlnmarmtFinancing
District No. l-02
(MelcalvLmson)
Tax lnercraonlFinancing
Diatricl Na. 1-
05(Construolioa5)
Tax InmamenlFinancing
District No. 1-06
(Rnindmce)
7hxlncress Financing
District -.1.19
(Nississi iShotcs)
Current net tax ca aci
43,704
51,065
69,707
32,589
Ori ' nal net tax capacity
3,854
708
98
2,523
Captured not tax caaci
39,850
50,357
69,609
30.066
principal and interest payments due
in 2011
0
0
0
29,315
Tax increment reoeived in 2010
37,875
60,632
82,296
32 855
Tax increment expended in 2010
169,711
365
365
29,678
Month and year of first tax
inerementreceipt
Jul -1985
Jul -1987 1
Jul -1988 1
Jul -1998
date of required decertification
12/31110
12/31/12
IM1113
12/31/23
TO District Name;
TaxInaanent Financing
District No. 1-0(Praide
West)
Taxl-ricNFinancing
Disltiet No. 1-22
(Downloasn District)
TaxlncmmeMFLuncing
No. 1.24 (St. Bmedict's)
Tsx lnesmmlFinaarhrg
Diserict\o.1-29(rrWNmch
Asmciata, I.)
Current net tax ca of
24 027
509 564
45,051
30,370
Original net tax capacity
1,672
157,311
441
974
Captured net tax ca aci '
22,355
352,253
44,610
29,396
Principal and interest payments due
hi 2011
20,385
65,212
42.931
20 117
Tax increment roeeivcd in 2010
26,305
405,500
48,353
30,728
Tax increment expended in 2010
15,634
574,537
45,999
22,125
Month and year of first tax
increment reoei t
Jul -1999
Jul -1999
Jul -20017u(•2004
date ofre uireddecerfifieation
12131129
12/31124
12+31126
12131/29
TIP DislrictNamc:
Taxrnoremcd Finandug
DisirictNo.1-30(CIYIA�
TaxJncremmd Humming
District No. 1.31(UMC)
TaxJilmmcntFinancing
Distdcl No.t-34(hionli
Intamlran a)
Tax1noremcn(Financing
District No.l-35(Landnadc
Sgna1111)
Current net tax capazity capacity
14,483
73,730
312,825
3,442
original net tax capacity
2,107
173
32,548
6,068
Captured net tax caparity
12,376 1
73,557
280,277
0
Principal mid interest payments duo
in 2011
8,063
72,760
316,279
0
Tax increment received in 2010
14,310
79,419
305,676
204
Tax increment expended in 2010
4,166
71,821
317,368
91
Month and year of first tax
incrcment reeei t
Ju1-2004
101-2004
Jan -2007
Jul -2008
date of required decertification
12/31/29
12/31/12
12/31122
12/31133
'DFDisldetName;
Tax lncrancntFinancing
District No. 1-36
0 J 1hcirncr)
TaxImmmentFinaneieg TmIncremmtFimneing
DistrictNo.1-37(SLRcal DistdaiNo.1-33(WAkerin
Fstnw) SIM)
Current net tax capacity
67,736
26,674
13,674
Ori inal2ret tax capacity
4,354
1,614
1,781
Ca turcd net tax capacity
63,382
25,060
11,893
Nueipal and nitcrest payments due
in 2011
139,939
23,796
22,939
Tax increment received in 2010
69,061
26,585
12 604
Tax increment ex ended in 2010
66,406
24,879
17,439
Month and year of first tax
(ncrcmcnt receipt
Juu-2007
Jul -2009
Jul -2009
date of re uired dcecrtifrcatien
1201/15 1
12/31116
12131/17
Additional information regarding each distriotrnny be obtained from: Megan Bartlett-Livgard, 505 Walnut Street, Suite 1,
Monticello, MN 55362, Phone (763) 271-3208,
(Aug. 4, 2011) MT -2010 Annual TIF Disclosure
********* INVOICE *********
File Number: 16911 R
City of Monticello
Borrower :
Invoice #:
Order Date:
Reference/Case #
PO Number:
Terms:
Appraisal
Invoice Total
State Sales Tax @
Deposit
Deposit
Amount Due
/Z
$ 400.00
$ 400.00
$ 0.00
t$ )
($ )
$ 400.00
Please Make Check Payable To:
Landmark Appraisal
P.O. Box 312
Monticello Mn. 55362
Fed. I.D. #:
'4ONTICELLO TIMES
'10917 VALLEY VIEW ROAD
EDEN PRAIRIE MN 55344
(952) 392-6890
Fax(763) 296-3080
Advertising Invoice and Statement
1 TOM
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H_
08/ Oil
CITY OF MONTII;ELI
D8/04/11
1064750 PUBLIC HEARING ix 10,5C
,
153.83
LEG 08/04 10.50
153.83
153.83 153.83
MTI/MO
153.83
DUE UPON
RECill PT,
IL
_y
t: 6paf
N/A NIA
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N/A
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1
08/04/11
133 delia.
133
CITY OF MONTICELLO
ATTN: ACCOUNTS PAYABLE
505 WALNUT ST STE 1
MONTICELLO MN 55362
Please Return Upper Portion With Payment
Amount Paid:
Comments:
Statement of Account -Aging of Past Due Amounts
Due upon receipt
E
H_
m
MQU
D8/04/11
1064750 PUBLIC HEARING ix 10,5C
1
153.83
LEG 08/04 10.50
153.83
153.83 153.83
MTI/MO
AUG
-9 W
Statement of Account -Aging of Past Due Amounts
Due upon receipt
MONTICELLO TIMES
(952) 392.6890
* UNAPPLIED AMOUNTS ARE INCLUDED IN TOTAL AMOUNT DUE
@ Y:4
N/A N/A
N/A
153.83
MONTICELLO TIMES
(952) 392.6890
* UNAPPLIED AMOUNTS ARE INCLUDED IN TOTAL AMOUNT DUE
133
133CITYOF MONTICELLO
MONTICELLO TIMES
10917 VALLEY VIEW ROAD
EDEN PRAIRIE MN 55344
(952)392-6890
Fax(763) 295-3080
Advertising Invoice and Statement
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CITY OF MONTICELLO
ATTN: ACCOUNTS PAYABLE
505 WALNUT ST STE 1
MONTICELLO MN 55362
Amount Paid:
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"In the Community. With the Community. For the Gommunity,
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REDEVELOPMENT PROJECT
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MTI/MO
AUG 1 2 2011
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THERE IS A$20 CHARGE FOR RETURNED C:HEUKS. KLNUKi EKKUKS Wi HhN a DAYS TO irvaurcn uvivaiuLnAr rvrv.
UNPAID BALANCES OVER 30 DAYS OLD INCUR A 1.5% FINANCE CHARGE PER MONTH.
14tatpma_nt of Account - Anina of Past Due Amounts
Due upon receipt
MONTICELLO TIMES
(952) 392-6890 * UNAPPLIED AMOUNTS ARE INCLUDED IN TOTAL AMOUNT DUE
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MONTICELLO TIMES
(952) 392-6890 * UNAPPLIED AMOUNTS ARE INCLUDED IN TOTAL AMOUNT DUE
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08/2011 133 133 CITY OF MONTICELLO
r Ma.dtuUo
AFFIDAVIT OF PUBLICATION
STATE OF MINNESOTA }
) ss.
COUNTY OF HENNEPIN }
Richard Hendrickson, being duly sworn on an
oath, states or affirms that he is the Chief
Financial Officer of the newspaper(s) known
as Monticello Times and has full knowledge of
the facts which are stated below.
(A) The newspaper has complied with all of
the requirements constituting qualification
as a qualified newspaper as provided by
Minn. Stat. § 331A.02, § 331A.07, and
other applicable laws as amended.
(B) The printed public notice that is attached
was published in the newspaper once
each week for one successive
week(s); it was first published on Thurs-
day, the 11 day of August ,
2011, and was thereafter printed and
published on every Thursday to and
including Thursday, the day of
, 2011; and printed
below is a copy of the lower case alphabet
from A to Z, both inclusive, which is here-
by acknowledged as being the size and
kind of type used in the composition and
publication of the notice:
abcdefghijklmnopgrstuvwxyz
By:
Title: CFO
Subscribed and sworn to or affirmed before
me on this 11 day of August , 2011.
Notary Public
WANE L ELIASON
:fir!
rlornnv 1>u11L1c - rllrlar_sorA
fly Comm. Expu'cr. Jan 11, 2015
City of Monticello
(Official Publication)
NOTICE OF PUBLIC HEARING
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
NOTICE IS HEREBY GIVEN that the City Council of the City of Monticello, Wright County, State of
Minnesota, will hold a public hearing on August 22, 2011, at approximately 7:00 p.m. at the City Coun-
cil Chambers In City Hall, 505 Walnut Street, Monticello, Minnesota, relating to the proposed adoption
of a Modification to the Redevelopment Plan for Central Monticello Redevelopment Project No. 1 (the
"Redevelopment Plan Modification'l, the proposed establishment of Tax Increment Financing District
No. 1-39 (an economic development tax increment financing district) within Central Monticello Redevel-
opment Project No. 1, and the proposed adoption of a Tax Increment Financing Plan (the "TIF Plan")
therefor (collectively, the "Plans"), pursuant to Minnesota Statutes, 469.090 to 469.1082 and Sections
469.174 to 469.1799, all Inclusive, as amended. Copies of the Plans are on file and available for public
inspection at the office of the City Administrator at City Hall.
The property to be included in Tax Increment Financing District No. 1-39 Is located within Central
Monticello Redevelopment Project No, 1 and the City of Monticello. A map of Central Monticello Rede-
velopment Project No. 1 and Tax Increment Financing District No. 1-39 therein is set forth below. Sub-
ject to certain limitations, tax increment from Tax Increment Financing District No. 1-39 may be spent on
eligible uses within the boundaries of Central Monticello Redevelopment Project No. 1.
All Interested persons may appear at the hearing and present their views orally or prior to the meet-
ing in writing.
BY ORDER OF THE CITY COUNCIL OF THE CITY OF MONTICELLO, MINNESOTA
/s/ Jeff O'Neil
City Administrator
(Aug. 11, 2011) MT-RedevelopmentProjectl
CITY OF MONTICELLO
VOUCHER
Please complete, sign, and submit to Accts Payable by due date for check run.
® Disb, Ck. Batch Pay by:
VENDOR: t r.
Name � l W U�/L
Address 1/�
Address 2
City/ST/Zip NAI a Statement)
Invoice No:
DISTRIBUTION OF EXPENSE
TOTAL: so, QO,lf) .;
APPROVED BY
IV ucher.xls
DATE: �,., r,.......,�.._.
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9
Kennedy & Graven, Chartered
200 South Sixth Street
Suite 470
Minneapolis, MN 55402
(612) 337-9300
September 13, 2011
Statement No. 104283
City of Monticello
Accounts Payable
505 Walnut Avenue, Suite 1
Monticello, MN 55362
Through August 31, 2011
MN190-00139 Economic Development TIF (Suburban Manufacturing)
I declare, under penalty of law, that this
account, claim or demand is Just and correct
and that no part of it has been paid.
A"
Signature of Clai ant
EP 14 2011
F
,x
1,872.00
Total Current Billing: 1,872.00
r411NO
Invoice submitted to:
City of Monticello
Megan Barnett
505 Walnut Street
Monticello, MN 55362
Wilson Development Services, LLC
510 North Chestnut Street, Suite 200
Chaska, MN 55318
952.448.4630 800.448.4630
FEIN 26-1629971
Invoice Date Invoice Number Last Bill Date
September 16, 2011 22534
In Reference To: Acquisition & Relocation Services -Montgomery Farms
Professional Services
y
SEA 2 6 2011
Hrs/Rate Amount
Montgomery Farms
8/10/2011 LGT
Time
0.50
47.50
Pull tax statements, review maps/aerials with Dan. Attempt to identify
95.00/hr
businesses/tenants.
Montgomery Farms
8/18/2011 MEF
Time
0.20
15.00
Type and send memo to Megan regarding need to select appraiser,
75,00/hr
notify of intent.
Montgomery Farms
8/23/2011 MEF
Time
0.20
15.00
Create file, set up on data base.
75.00/hr
Montgomery Farms
8/24/2011 MEF
Time
0.10
7.50
Get phone number and ownership from internet search.
75.00/hr
Montgomery Farms
DHW
Time
0.60
66.00
Call with Megan, discuss start up, search for property owner contact.
110.00/hr
Call from Tom Scott regarding appraiser selection.
Montgomery Farms
For professional services rendered 4.80 $450.50
Balance due $450.50
City of Monticello Monticello -Montgomery Farms
Page,
2
Hrs/Rate
;Ariount
8/29/2011 MEF Time
0.40
3k -CO
Search for Clay Montgomery information, check for active real estate
75.00lhr
,
license, inactive. Check People Finders.
Montgomery Farms
- - &/3012011 DHW Time
1.20
132.00
Call Mrs. Montgomery regarding introduction. Call to Megan, left
110.00/hr
message. Call to Messner regarding appraisal quote. Call from Clay,
Notes to file. Call Megan.
Montgomery Farms
8/31/2011 MEF Time
0.25
18.75
Type and send email to Megan with Messner proposal for appraisals.
75.00/hr
Montgomery Farms
MEF Time
0.20
15.00
Type and send email to Doucette requesting appraisal quote for both
75.00/hr
properties.
Montgomery Farms
DHW Time
0.50
55.00
Cali Foster appraisal, second price, Memo to Megan with Messner
110.00/hr
proposal, discuss selection.
Montgomery Farms
MEF Time
0.65
48.75
8-1-11 to 8-31-11 Consultant entries recorded to database for
75,00/hr
client/case history, status and file maintenance/backup,
Montgomery Farms
SUBTOTAL; [
4.80
450.50]
For professional services rendered
4.80
$450.50
For professional services rendered 4.80 $450.50
Balance due $450.50
35
7 3
03
11
ROBERT J. HIIVALA
WRIGHT COUNTY AUDPf'OR/1l2EASCJRER
116 �
03
10 SECOND STREET N.W. ROOM 232
e BUFFALO, MN 55313-1194
�'+r
505 WALNUT AVE STE 1
dYa 763-682-7572 or 763-684-4540
'
'raws
www.co.wright.mu.us
Property ID #: R155-010-067010
Property Tax Statement
for Taxes Payable in 2011
Save for ftittire reforence
Description:0n,
Sect -11 Twp -121 Range -025 ORIGINAL ,t TICELLO LOTS
1,2,3,4&5 BLK B
Taxpayer ID Number: 248203
CITY OF MONTICELLO EDA
OCTOBER 17 If your address has changed please check this box
�•` F
505 WALNUT AVE STE 1
and show the change on the back of this stub.txl
'
MONTICELLO MN 55362-8822
SECOND 1/2 TAX AMOUNT DUE: $865.70
Bill Number: 20899
Taxes Payable Year:
2010 2011
Your Pro a
Tax Values & Classification
ID Number: 248203
�j p
stimated Market Value:
MAKE CHECKS PAYABLE & MAIL TO,
y
i ` ullll I{ IIII�IIIIIIfIII
Improvements Excluded:.....
'
WRIGHT COUNTY AUDrTOR/TRGASURER
New Improvements/ ;'..
You may be eligible for one or even two
Expired Exclusions:
BUFFALO, MN 55313.1195
$$$ refunds to reduce our property tax.
CITY OF MONTICELLO EDA
TaxableMarket Value,:.
Property Classification
-
EXEMRT : EXEMPT
REFUNDS? Read the back of this statement to find
No RecelptSent UnIns Requesled:Your cancelled check is your welpl.Tw rer* it vad If ihaatieck is nol twnored.
out how to apply.
1'. Use this.amount on Form M1 PR to see if you are eligible for a property tax refund.
File. by August 15. If this box is checked, you owe delinquent taxes and are not eligible,
2: Use these amourits on Form M1 PR to see If you are eUgible for a special refund.
Your. Property Tax and Credits
3: Your. property.taxes Before credits
4. Credits thaYreduce yourproperty taxes _ _
A_ Homestead and agricultural market value credits
B. Other Credits
•5. Property taxes after credits
Pro
pertyTaz by Jurisdictioq
6.' County
7 City (CITY OF: MONTICELLO)'
8.'State General Tax'' '.
9. Schoofdistrict (0882).:
A.. Voter approved levies
B. Other local levies
10: Special :Taxing Districts _::. .
11. N.on-school voter'approved referenda: levigs
12. Totaiprolp tax before special assessments.
Special Assessments'on Your PropertV
13..Specialassessments: Principal $ 1,495:82 Interest $ 235.59 _ 1,834.94 1,731.41
A. UTILITIES 2461.1-0 - . '1_;731:41.
.- -- - -
14. YOUR TOTAL PROPERTY TAX AND SPECIAL ASSESSMENTS 1;834.94' •: 1,731.41
_._..-^------------------------------------------------..-.------..--..----------
PAYABLE 2011 2nd HALF PAYMENT STUB PLEASE READ THE BACK OFTHE STATEMENT FOR IMPORTANT INFORMATION,
MONTICELLO MN 55362-8822
TO AVOID PENALTY PAY ON OR BEFORE:
OCTOBER 17 If your address has changed please check this box
Property ID Number: R155 010-067010
and show the change on the back of this stub.txl
SECOND 1/2 TAX AMOUNT DUE: $865.70
Bill Number: 20899
PENALTY: TOTAL:
t,W
ID Number: 248203
�j p
IIIIIIII�IIIIIIIIlII�IIIgII�
MAKE CHECKS PAYABLE & MAIL TO,
y
i ` ullll I{ IIII�IIIIIIfIII
ROBERT J. HIJVALA
MEN
WRIGHT COUNTY AUDrTOR/TRGASURER
10 SECOND 9YREET N.W. ROOM 232
BUFFALO, MN 55313.1195
CITY OF MONTICELLO EDA
505 WALNUT AVE STE 1
No RecelptSent UnIns Requesled:Your cancelled check is your welpl.Tw rer* it vad If ihaatieck is nol twnored.
MONTICELLO MN 55362-8822
ROM ot"9'r
� i
CORNERSTONE CAFE
N4==1:00_0e
154 WEST BROADWAY
P.O. Box 535
MONTICEL_LO, MN 55362
PHONE: 763.295.3888
WWW.CORNERSTONECAFE.COM
Date Wednesday, Oct.19th 2011
Item Ordered
Name City of Monticello
Address 505 Walnut Street Suite 1 Monticello MN 55362
Contact Person Megan Barnett
Phone # 763/271-3208
Cell Phone #
E -Mail Address Megan.Barnett(a)_ci.monticello.mn.us
Time of Event 7:30 AM OTD: 6:00 AM
Type of Event I Industry of the Year
Quantity Ordered
Item Ordered
Per person
Total
60
Cornerstone Egg Bake - Buffet
$ 8.66
$
519.60
include both vegetable & cheese only choices
Bacon Strips, Sausage Links, Ham
Breakfast Potatoes
Assorted baked goods tray
3
gallons Coffee service
$ 12.95
$
38.85
30
Orange juice
$ 1.75
$
52.50
60
Dishwashing service
$ 0.50
$
30.00
Includes:
Paperware: Napkins, water & juice cups.
Glassware: Dinner plates, coffee cups.
Silverware: Forks, knives.
Cream & sugar coffee service.
White tableclothes on all guest table
Service Description: 30.82
Chafing dish set-up. Delivery, set-up and clean-up of all catered items.
Dishwashing & storing of all china & silver service.
Special Instructions:
Include ice water on beverage table.
Delivery Directions:
MCC Mississippi Room
Payment Arrangements:
Pay with check at delivery.
For The Love Of Food!
Subtotal $ 640.95
Gratuity $ 128.19
Subtotal $ 769.14
6.875% Sales Tax $ 52.88
Total $ 822.02
5. Consideration of Adopting a Resolution Authorizing a Tax Increment
Pledge Agreement Relating to the Sale of G. O. Refunding Bonds,
Series 2011 A.
A. REFERENCE AND BACKGROUND:
At the August 22, 2011 council meeting, Council adopted a resolution
calling for the sale of General Obligation Refunding Bonds, Series 2011 A.
The purpose of the bonds is to refund the City's G.O. Bonds, Series
2005A, which is callable on February 1, 2014. The City would be doing
what is referred to as an advance refunding to take advantage of the low
interest rates.
The City did sell the bonds on Monday, September 26th and the City
Council adopted a resolution accepting the sale of the bond at the city
council meeting that same evening. The sale resulted in an estimated
savings of $667,070.84 over the remaining 11 years of debt payments.
The 2005A bond which is being called was funded in part from pledged
tax increments from District 1 -34, Monticello Interchange. As a result of
this refunding the original pledge agreement is voided and a new pledge
agreement is needed to fund the 2011A G. O. Refunding Bonds. Attached
is a new pledge agreement between the City and the EDA, along with the
resolution authorizing execution of said pledge agreement.
Al. Budget Impact: By issuing bonds to finance the refunding of
the 2005A bond, the City will save the City around $667,000 in
interest costs over 11 years.
A2. Staff Workload Impact: There would be little to no impact on the
staff.
B. ALTERNATIVE ACTIONS
Adopt the resolution authorizing execution of a tax increment
pledge agreement with the City of Monticello relating to the
$10,735,000 G. O. Refunding Bonds, Series 2011A.
2. Do not adopt the resolution authorizing execution of a tax increment
pledge agreement with the City of Monticello relating to the
$10,735,000 G. O. Refunding Bonds, Series 2011A.
C. STAFF RECOMMENDATION:
The City staff supports Alternative 1.
D. SUPPORTING DATA:
A copy of the Tax Increment Pledge Agreement.
A copy of EDA Resolution No. 2011 -94.
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2011-94
AUTHORIZING EXECUTION OF A TAX INCREMENT PLEDGE AGREEMENT
WITH THE CITY OF MONTICELLO RELATING TO $10,735,000 GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2011A
WHEREAS, the City previously issued its $25,150,000 General Obligation Bonds, Series
2005A, dated August 17, 2005 (the "Refirnded Bonds "); and
WHEREAS, pursuant to authority conferred by Minnesota Statutes, Section 469.178, and
Minnesota Statutes, Chapter 475, the City has agreed to refund the Refi nded Bonds through the
issuance of general obligation bonds of the City in the principal amount of approximately
$11,005,000, designated the General Obligation Refunding Bonds, Series 2011A, and hereinafter
referred to as the "Bonds"; and
WHEREAS, the EDA has agreed to pledge certain tax increment revenues to the City for
the principal and interest on a portion of the Bonds; and
WHEREAS, the there has been presented to the EDA a Tax Increment Pledge Agreement
between the EDA and the City (the "Pledge Agreement') providing for the pledge of certain tax
increments from certain tax increment financing districts in the City to payment of principal and
interest on the Bonds after the redemption date for the Refunded Bonds;
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners (the 'Board ")
of the EDA, as follows:
1. The President and Executive Director of the EDA are hereby authorized to
execute and deliver the Pledge Agreement in substantially the form on file in City Hall.
2. This resolution shall be effective as of the date hereof.
ADOPTED BY the City of Monticello Economic Development Authority this 12th day
of October, 2011.
CITY OF MONTICELLO ECONOMIC
DEVELOPMENT AUTHORITY
EDA President
ATTEST:
Economic Development Director
TAX INCREMENT PLEDGE AGREEMENT
by and between
CITY OF MONTICELLO, MINNESOTA
and
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
THIS AGREEMENT is made and entered into on or as of the 19a' day of October, 2011,
by and between the City of Monticello, Minnesota (the "City "), and the City of Monticello
Economic Development Authority (the "EDA ").
RECITALS
A. The City has duly established the following project areas and tax increment districts:
(i) Central Monticello Redevelopment Project No. I (the 'Project Area "); and (ii) tax increment
financing district no. 1 -34 (the "TIF District ") pursuant to Minnesota Statutes, Sections 469.001
through 469.047, and Sections 469.174 to 469.179 and predecessor statutes (the "TIF Act ").
B. In order to finance certain costs of the Project Area, the City issued its $25,150,000
General Obligation Bonds, Series 2005A, of the City, dated August 17, 2005 (the "Refunded
Bonds "), a portion of which consisted of general obligation tax increment revenue bonds in the
aggregate principal amount of $8,550,000 (the "TIF Bonds ").
C. The tax increment attributable to the District (in accordance with the Act)
received each year from Wright County is referred to as the "Available Tax Increment."
D. In connection with issuance of the Refunded Bonds, the City and the Housing and
Redevelopment Authority in and for the City of Monticello ( "HRA ") entered into a Tax
Increment Pledge Agreement, dated as of August 17, 2005, whereby the HRA pledged Available
Tax Increment to payment of the principal of and interest on the TIF Bonds portion of the
Refunded Bonds.
E. By resolution approved October 22, 2007, the City transferred the control, authority
and operation of the District from the HRA to the EDA, pursuant to Minnesota Statutes, Section
469.094.
F. Pursuant to authority conferred by Minnesota Statutes, Section 469.178, and
Minnesota Statutes, Chapter 475, the City has agreed to crossover advance refund the
outstanding Refunded Bonds, including the TIF Bonds, through the issuance of general
obligation bonds of the City in the principal amount of $10,735,000, designated the General
Obligation Refunding Bonds, Series 2011A, and hereinafter referred to as the "Bonds."
3922000 MNI MN190 -140
G. The EDA has agreed to pledge Available Tax Increment to the City for the
principal and interest on the Bonds from and after the redemption date of the Refunded Bonds.
H. Pursuant to Minnesota Statutes, Section 469.178, Subdivision 2, any agreement to
pledge tax increment revenues must be made by written agreement by and between the EDA and
the City and must be filed with the County Auditor /Treasurer of Wright County.
NOW, THEREFORE, the City and the EDA mutually agree to the following:
(1) The City will sell the Bonds in accordance with the City Council resolution
approved on September 26, 2011 (the "Bond Resolution "). The Authority
authorizes and directs the City to give notice of redemption of the outstanding
principal amount of the Refunded Bonds on February 1, 2013 (the "Redemption
Date ") in accordance with the Bond Resolution and the Escrow Agreement.
(2) The proceeds from the sale of the bonds will be applied in accordance with the
Bond Resolution. The Authority specifically authorizes and directs the City to
deposit the proceeds of the Bonds (less any deductions specified in the Bond
Resolution or the Escrow Agreement) in the Escrow Account maintained by the
Escrow Agent, as such terms are defined in the Bond Resolution. Amounts in the
Escrow Account are irrevocably pledged to pay principal of and interest on the
Bonds until the Redemption Date, and to redeem the outstanding Refunded Bonds
on the Redemption Date.
(3) Prior to the Redemption Date, tax increment from the TIF District remains
pledged to pay principal of and interest on the Refunded Bonds in accordance
with the City's resolution awarding the sale of the Refunded Bonds dated July 25,
2005.
(4) Commencing on the Redemption Date, the EDA pledges Available Tax Increment
to pay principal of and interest on the Bonds, subject to the terms of this
Agreement. At least three (3) business days prior to each debt service payment
date for the Bonds, there shall be transferred from the account for the TIF District
to the Debt Service Fund maintained by the City for the payment of the Bonds, an
amount of Available Tax Increment which, when taken together with taxes levied
and other sources pledged for such purposes in accordance with the Bond
Resolution and amounts already on deposit in such Debt Service Fund, is equal to
the principal of and interest on the Bonds to become due on the subject payment
date. Any Available Tax Increment in excess of 105% of the principal and
interest due with respect to the Bonds on any payment date may be retained by the
EDA in the account for the TIF District and applied to any costs of the Project
Area in accordance with law.
(5) Without regard to anything in this Agreement to the contrary, Available Tax
Increment may be pledged (at the EDA's option on a parity, superior or
392200v1 MNI MN 190 -140
subordinate basis) to pay principal of and interest on both the Bonds and any other
obligations issued by the City, EDA or any other public body to finance public
redevelopment costs paid or incurred by the EDA in the Project Area. The EDA
reserves the right to release all or any portion of Available Tax Increment from
the pledge under this Agreement (including without limitation the release of
Available Tax Increment from any specific parcel within any District) to the
extent permitted by law, provided that in no event may the EDA reduce the
pledge such that Available Tax Increment is reasonably expected to pay less than
20 percent of principal and interest on the TIF Bonds portion of the Bonds.
(6) This Agreement supplements any prior agreements between the City and EDA
with respect to pledges of Available Tax Increment.
(7) An executed copy of this Agreement shall be filed with the County
Auditor/Treasurer of Wright County pursuant to the requirement contained in
Minnesota Statutes, Section 469.178, Subdivision 2.
(The remainder of this page is intentionally left blank)
RM1111I117181 121 NO lee Vila E IQ
IN WITNESS WHEREOF, the City and the EDA have caused this Agreement to be duly
executed on their behalf and their seals to be hereunto affixed and such signatures and seals to be
attested, as of the day and year first above written.
ATTEST:
City Administrator
(SEAL)
392200vl MNI MN 190 -140
CITY OF MONTICELLO,
MINNESOTA
Lm
Mayor
ATTEST:
Executive Director
(SEAL)
392200vl MNI MN 190 -140
THE CITY OF MONTICELLO ECONOMIC
DEVELOPMENT AUTHORITY
President
STATE OF MINNESOTA
COUNTY OF WRIGHT
COUNTY AUDITOR/TREASURER'S
CERTIFICATE
I, the undersigned County Auditor /Treasurer of Wright County, Minnesota, hereby
certify that a Tax Increment Pledge Agreement by and between the City of Monticello,
Minnesota and The City of Monticello Economic Development Authority dated as of
September 26, 2011, relating to the City's $10,735,000 General Obligation Refunding Bonds,
Series 2011A, has been filed in my office.
WITNESS my hand and official seal this _ day of 2011.
(SEAL)
3922000 9NIMN190 -140
County Auditor /Treasurer
Wright County, Minnesota
Lo
Deputy
6. AUTHORIZING A $2,000 CITY PLATINUM SPONSORSHIP FOR THE NAIFC
QUALIFYING ICE FISHING TOURNAMENT TO BE HELD ON PELICAN
LAKE IN MONTICELLO IN 2012
A. REFERENCE AND BACKGROUND:
Monticello is fortunate to be hosting the Ice Man Realty Show fishing tournament on
Pelican Lake for a second consecutive year. The January 2011 event was a huge success
bringing in over 600 people to Monticello. The local shops, restaurants, and hotels were
utilized throughout the tournament weekend. The Monticello EDA was a platinum
sponsor for this event in 2011 and Staff is requesting the sponsorship continue to the
2012 event. Supporting all business sectors in the community provides for a strong
sustainable community.
A platinum sponsor consists of $2,000. Staff is proposing the sponsorship amount be
utilized from the 2012 marketing budget.
B. STAFF RECOMMENDATION:
City Staff recommends authorizing the City of Monticello to be a Platinum Sponsor for
the NAIFC Qualifying Ice Fishing Tournament to be held in January of 2012 on Pelican
Lake in Monticello. This tournament will once again bring national exposure to
Monticello, which will in turn provide additional revenue for many businesses in the
City. The mission of the EDA encompasses encouraging and supporting a strong and
sustainable busienss climate in the City. Supporting an event that has the potential to
drive additional revenue to many businesses in Monticello is one way to stimulate the
local business economy.
C. ALTERNATIVE ACTIONS:
1. Motion to approve a $2,000 Platinum Sponsorship for the NAIFC Ice Fishing
Tournament to be utilized from the 2012 marketing budget.
2. Motion to deny the City sponsoring the NAIFC at a Platinum Sponsorship level.
3. Motion to table item for further research.
D. SUPPORTING DATA:
a. Misc. information regarding NAIFC Ice Fishing Tournament
Chamber - News
home biog join now hot deals swans member login
Chamber Community
News
Monticello Chamber of Commerce and Industry
(163) 295-2]00
htlpl/www.monticellocd.com
September 13, 2011 Alt News Releases
NAIFC Fishing Tournament Sponsorship Needed - Pelican Lake
Contact:
Sandy Suchy, Director
(163)295 -2100: sandy @monticellocci.com
The Monticello Chamber is co- hosting the NAIFC (North American Ice Fishing Circuit) Ice Fishing Tournament
on Pelican Lake for the second time. This tournament brings in many new people to the community and even
the VERSUS channel on TV. Teams are already signing up. Registration is open to locals as well as ice fishing
professionals and the NAIFC spents a lot of hours educating adults and kids on how to ice fish and best
techniques. Along with the fishing tournament we will have our weekend Frostbite Activities that include: a Pond
Hockey Tournament, National Smoosh Race Competition, GeoCache Hunt and Medallion Hunt. Once again we
need a lot of community and business support to bring this group to Monticello. Please consider a donation to
sponsor this event.
$2,000 Platinum Level Event Co Sponsor- Business identified with a Large Logo on all advertising venues for
the Frostbite Challenge Weekend from now until event, Business Banner placed at all events all weekend and
banner ad on the Chambers websile's Fish Tournament Report page.
$f, 000 Gold Level Sponsor- Business identified with a Medium Logo on all Advertising venues for the Frostbite
Challenge Weekend from now until the event, Yard sign at Pelican Lake.
$500 Silver Level Sponsor- Business identified with Small Logo on all Advertising venues for Fishing
Tournament from now until event, Yard sign at Pelican Lake.
Less than $500- "Friends of Frostbite Challenge" Sponsor - Business name will be listed as "additional
sponsors" on all Advertising venues for Fishing Tournament from now until the event, Ability to donate 300 items
for the St. Paul Ice Fishing Tournament Bags.
Note above Tiers include everything below them.
Additional information about the event can be found at htto: / /moot .......... eellocei .corn/oagesMAIFCTournamend
http : //business.monticellocci.com /news /details /news - release- 09 -13- 2011 -7
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9/23/2011
Economic Development Director Updates:
IEDC:
The IEDC named the 2011 Industry of the Year. A congratulations to Aroplax Corporation.
The 2nd Annual Industry of the Year breakfast will be held on October 19, 2011 at 7:30am at
the Monticello Community Center.
City Council:
The City Council set a preliminary levy at $7,850,000, which is a 2.25% increase. Due to the
changes by the legislature in the market value system businesses will see a 9.739% increase in
City property taxes.
The City Council approved rezoning the Fallon Avenue office building from I -1 to B -4. West
Metro
Inquiries:
Staff was contacted by Greater MSP to submit a Request for Information (RFI) for a potential
user looking to locate in MN. The company needs 20 acres with an option for an additional 20
acres. They would bring approximately 260 jobs and desire to build up to a 400,000 square
feet facility over a 5 to 10 year time period.
Marketing / Venues:
Greater MSP is hosting a meeting to unveil their economic development strategy and
proposed regions brand on Tuesday, October 11, 2011 at 5:30. If you are interested in
attending please contact Megan. Monticello is also hosting a meeting with Gene Goddard
from Greater MSP on October 13`h. Otsego, Clearwater, St. Michael, and Albertville will be
joining us to ensure Wright County is well known to Greater MSP.
Monticello will also be represented at the Governor's Job Summit and the MNCAR
Commercial Real Estate Expo in October.
Business Communications & Retention Initiatives:
The Business Insider was distributed in the October Chamber newsletter.
A Concierge site tour was just completed for TSI SSG. They are a tire service manufacturing
company. They manufacture products such as tire cutters, wheel crushers, Cheetah Bead
Seaters.
Embracing Downtown:
The Steering Committee met on September 16`h to discuss the proposed Design Guidelines.
The consultants are working on revising the Guidelines based on input from both City Staff
and the Steering Committee. The last public open house meeting, before the document goes to
the Planning Commission and City Council for approvals, is scheduled for Monday, October
24`h from 5:30 — 7pm.
Wright County Economic Development Partnership
The Partnership is currently interviewing candidates for the Executive Director Position. It is
anticipated a new Director will start by the end of October.
Future Meeting Dates:
1. Embracing Downtown Public Open House: October 24�h from 5:30 — 7p
2. IEDC: November 1, 2011
3. EDA: November 9, 2011
IEDC October 4, 2011