EDA Agenda 03-13-2013 (Workshop Meeting)EDA WORKSHOP
Wednesday, March 13th, 2013
5:00 - 6:00 p.m.
Mississippi Room - 505 Walnut Street, Monticello, MN
Commissioners: President Bill Demeules, Vice President Bill Tapper, Treasurer
Tracy Hinz, Vice Treasurer Matt Frie, Rod Dragsten and Council members Tom Perrault and
Brian Stumpf
Staff. Executive Director Jeff O'Neill, Angela Schumann, Wayne Oberg
Workshop Purpose:
• Review current relocation status
• Review TH 25 /CSAH 75 transportation funding dynamics
• Understand capacity to fund preparation of Block 34 for redevelopment/road improvements
o Projection of funds available after completion of intersection improvements and other
expenses
• With the above understood, determine whether there is a desire to consider Block 34 a "focus
area" for use of EDA resources.
1. Call to Order
2. Status of relocations (Dan Wilson, Wilson Development Services) —10 min.
a. Tenant lease status
b. Costs to -date
c. Potential total relocation costs
d. Building vacancy
i. Contract for qualifying inspection, findings
ii. Time window for qualifying events for new district
3. Transportation improvement funding — TH 25 /CSAH 75 (Bruce Westby) —10 min.
a. Construction layout
b. Construction costs
c. Other project costs
d. Timing
4. Redevelopment Opportunity & Financial Resources (Jeff O Neill /Angela Schumann)- 5 min.
a. Developable area /ROW
b. Overview of Potential Uses
iii. Commercial — Convenience /Service
iv. Housing
5. Financial Analysis (Tammy Omdahl, Northland Securities, Wayne Oberg) — 25 min
a. Estimated Redevelopment and Infrastructure Costs
b. Available Funding Resources
c. Opportunities to Recapture Investment
6. Conclusions and Direction from EDA