IDC Minutes 04-06-1978
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BUSINESS AND INIUSTRIAL D PMENT COMMISSION l'vm:ETING
April 6, 197$ 7:00 P.M.
Members present: Kenneth Maus, Llo d Lund, Bud Schrupp
Members absent: John Poirier, Lois Schoepf
Also in attendance from Monticello evelopment Corporation -
Phil White, Arve Grimsmo, Jim Figenshau, Dr. Kasper, Geo. Phillips.
A discussion was held relative to t e property the Monticello Develop-
ment Corporation owns in Block 51, hich borders River Street. Concern
was from the Business and Industri Development Committee whether the
Monticello Development Corporation ad taken into account the future
parking needs for Block 51.
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Members of the Monticello nDevelopm t Corporation assurred the Committee
that no matter what is done with th parcel, that the future parking
needs of Block 51, along with the e tire City will be taken into
account and the property will not b sold without providing for ade-
quate parking for any new enterpris plus the existing businesses.
Monticello Development Corporation 0 d pay $20,000 for the pink
house, $12,000 for the white house d $12,000 for the red house,
for a total investment of $44,000. With the current monthly rental
income of $560 from the three houses, this is sufficient to make all
payments on real estate taxes, operating expenses such as heat, light,
utilities, but not including the pro cipal on the loan.
There being no further business, t e meeting was adjourned.
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