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EDA Agenda 02-11-2015 (Workshop Meeting)
EDA MEETING - WORKSHOP Wednesday, February 11th, 2015 4:00 p.m. Academy Room- 505 Walnut Street, Monticello, MN Commissioners: President Bill Demeules, Vice President Bill Tapper, Treasurer Tracy Hinz, James Davidson, Steve Johnson and Council members Tom Perrault and Lloyd Hilgart Staff: Executive Director Jeff O’Neill, Angela Schumann 1. Call to Order 2. Consideration of 2015 Work Plan Goals and Objectives 3. Adjourn. EDA 2013 WORK PLAN: Purpose: The EDA is charged with coordinating and administering the City of Monticello’s economic development and redevelopment plans and programs. The EDA is also responsible for housing and redevelopment. Attracting & Retaining Jobs: 1. Move forward with the hiring of Economic Development Sales (and Marketing) Position a. Will act as primary outreach in developing and fostering lead opportunities outside of Monticello. b. Will understand and promote existing gap financing options to help facilitate new development and business expansions. c. Will understand and utilize McCombs study and analysis for benefit of redevelopment opportunities. d. Will recommend additional incentives, assets or programs necessary to attract business. 2. City will develop the needed and necessary marketing materials for City and EDA properties. 3. Existing City development staff will continue to implement efforts to recognize and support existing Monticello businesses. These will include: a. Execution of business subsidy programs b. Communication efforts Expanding Tax Base: 1. See priority #1, above. 2. Develop a spending plan for TIF 1-6 (may also be an Enhancing Downtown objective) Enhancing Downtown: 1. Determine Focus Project Area(s) a. Pursue purchasing properties that fit within the “next steps” or recommendations stated in the Embracing Downtown Plan b. Develop structure for negotiations terms and options for acquisitions 2. Develop a spending plan for TIF 1-22 a. Modify the district, if necessary 3. Support the efforts of ReSTOREing Downtown Facilitating Redevelopment: 1. Participate in residential or commercial redevelopment when determined appropriate Housing: 1. Develop a spending plan for use of available excess increment in existing housing TIF districts. 2. Continue to market 413 4th Street for future redevelopment 3. Consider completion of a housing study to determine the need for affordable/senior housing within the community. 2015 Budget Draft - REVENUES 2010 2011 2012 2013 2014 2014 2015 % ACCOUNT NUMBER REVENUE ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE EDA Consolidated SPECIAL REVENUE FUNDS 2010 2011 2012 2013 2014 2014 2015 % ACCOUNT NUMBER REVENUES ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-00000-310110 CURRENT AD VALOREM TAXES -$ -$ -$ -$ -$ -$-$--- 213-00000-310210 DELINQUENT AD VALOREM TAX - - - - - ----- 213-00000-310310 MOBILE HOME TAX - - - - - ----- 213-00000-347110 Rental of City Property 1,000 1,000 1,000 1,250 1,250 25.0% 213-46502-310500 TIF #2 - METCALF & LARSON 37,619 - - - - ----- 213-46505-310500 TIF #5 - CONSTRUCTION 5 54,362 49,007 52,498 - ----- 213-46506-310500 TIF #6 - RAINDANCE 75,145 77,583 83,229 76,895 83,528 83,528 83,528 0.0% 213-46519-310500 TIF #19 - MISSISSIPPI SHORES 32,457 32,687 32,686 32,686 33,299 33,299 33,299 0.0% 213-46520-310500 TIF #20 - PRAIRIE WEST 21,945 21,201 17,938 15,408 18,413 18,413 18,413 0.0% 213-46522-310500 TIF #22 - CCD/DOWNTOWN 362,053 325,380 376,242 340,652 78,624 78,624 78,624 0.0% 213-46522-347110 Rental of City Property - - 32,748 25,404 - ----- 213-46523-310500 TIF #23 - MIDWEST GRAPHICS - - - - - ----- 213-46524-310500 TIF #24 - ST BEN'S CENTER 48,158 47,023 47,732 46,539 48,873 48,873 48,873 0.0% 213-46526-310500 TIF #26 - TWIN CITY DIE CAST - - - - - ----- 213-46527-310500 TIF #27 - JJ CO/PROFILE PW - - - - - ----- 213-46528-310500 TIF #28 - IRTI - - - - - ----- 213-46529-310500 TIF #29 - FRONT PORCH 26,164 28,206 23,737 17,966 25,462 25,462 25,462 0.0% 213-46530-310500 TIF #30 - CMHP 10,982 11,338 7,689 6,750 7,717 7,717 7,717 0.0% 213-46531-310500 TIF #31 - U.M.C. 79,407 82,280 - - - ----- 213-46533-310500 TIF #33 - TAPPER'S HOLDINGS - - - - - ----- 213-46534-310500 TIF #34 - I94 INTERCHANGE 301,517 269,290 272,296 271,906 271,916 271,916 271,916 0.0% 213-46536-310500 TIF #36 - DAHLHEIMER DIST 68,185 68,185 67,161 66,593 66,594 66,594 66,594 0.0% 213-46537-310500 TIF #37 - KARLSBURGER FOODS 24,787 24,787 24,550 24,469 24,468 24,468 24,468 0.0% 213-46538-310500 TIF #38 - WALKER IN-STORE 12,604 13,596 12,604 12,600 12,600 12,600 12,600 0.0% 213-46539-310500 TIF #39 - Suburban 53,471 - 53,471 53,471 --- 213-46581-310500 TIF 22.5 - CCD/AMOCO - - - - - ----- 213-00000-319100 PENALTIES & INT - TAX - - - - - ----- 213-00000-334020 HOMESTEAD CREDIT 9,818 - - - - ----- 213-46500-341090 INITIATION/APPLICATION FEE - - - - - ----- 213-00000-362110 INTEREST EARNINGS - Gen EDA 129,768 277,474 44,611 (53,330) 20,000 20,000 20,000 0.0% 213-00000-362110 INTEREST EARNINGS - CMEF - - 25,513 22,000 22,000 22,000 0.0% 213-00000-362110 INTEREST EARNINGS-TIF - - 85,126 23,000 23,000 23,000 0.0% 213-00000-362400 SALE OF PROPERTY 67,569 72,615 75,772 - ----- 213-00000-362990 OTHER MISCELLANEOUS REV 34,107 37,253 31,010 43 - ----- 213-46621-362150 INT EARNINGS - TAPPERS #021 478 316 149 12 - ----- 213-46622-362150 INT EARNINGS - UMC #022 1,917 - - - - ----- 213-46623-362150 INT EARNINGS - WSI IND #023 5,614 2,267 - - - ----- 213-46624-362150 INT EARNINGS - TAPPER'S #024 5,792 5,504 5,205 3,851 - ----- 213-46625-362150 INT EARNINGS - KARLSBURGER #025 10,710 10,075 2,415 - - ----- 213-46626-362150 INT EARNINGS - HOGLUND #026 1,917 5,421 3,811 2,629 1,500 1,500 500 -66.7% 213-46627-362150 INT EARNINGS - PET HOSPITAL #027 - - 1,093 758 500 500 --100.0% 213-46500-362200 TIF Intrafund LOAN REPAYMENT - PRIN16,540 13,928 10,054 117,742 95,476 95,476 126,258 32.2% 213-46500-362220 TIF Intrafund LOAN REPAYMENT - INT 6,511 5,474 8,398 42,116 39,938 39,938 33,602 -15.9% 213-00000-392000 TRANSFERS FROM OTHER FDS 5,301 --92,000 93,000 93,000 94,900 2.0% TOTAL REVENUES 1,451,427$ 1,480,890$ 1,345,267$ 1,198,160$ 967,908$ 1,021,629$1,046,475$8.1% 2015 Proposed Budget - 1 SPECIAL REVENUE FUND 2010 2011 2012 2013 2014 2014 2015 % EDA (Consolidated)EXPENDITURES ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46x01-410100c SALARIES, FULL TIME - REG 18,229$ 18,214$ 9,883$ 2,209$ 8,376$ 8,376$8,727$4.19% 213-46x01-410200c SALARIES, FULL TIME - OT - - - - - ----- 213-46x01-410400c SALARIES, TEMPORARY - REG - - - - - ----- 213-46x01-410900c SALARIES, OTHER 570 - - - - ----- 213-46x01-411100c SEVERANCE PAY - - - - - ----- 213-46x01-412100c PERA CONTRIBUTIONS 1,317 1,320 716 160 628 628 655 4.30% 213-46x01-412200c FICA CONTRIBUTIONS 1,098 1,091 590 124 519 519 541 4.24% 213-46x01-412300c MEDICARE CONTRIBUTIONS 257 255 138 29 121 121 127 4.96% 213-46x01-413100c HEALTH/DENTAL/LIFE INSURAN 4,202 4,984 2,579 594 2,362 2,362 2,754 16.60% 213-46x01-413500c FLEX BENEFITS - - - - - ----- 213-46x01-415100c Workers Compensation Insurance 213-46x01-421990c GENL OPERATING SUPPLIES - - 1,170 - - ----- 213-46x01-422990c MISC REPAIR & MTC SUPPLIES - - - - - ----- 213-46x01-424100c SMALL TOOLS & EQUIPMENT - - - - - ----- 213-46x01-430260c PROF SRV - CONSTRUCTION CO - - - - - ----- 213-46x01-430300c PROF SRV - ENGINEERING FEE 4,438 11,267 6,607 - - -1,000 --- 213-46x01-430400c PROF SRV - LEGAL FEES 16,987 16,467 28,817 14,069 10,100 10,100 10,100 0.00% 213-46x01-430910c PROF SRV - Markety Matching - - - 24,000 48,000 48,000 48,000 0.00% 213-46x01-431990c MISC PROFESSIONAL SERVICES 145,170 91,700 130,793 25,601 12,907 12,907 12,907 0.00% 213-46x01-432150c IT Services 1,397 1,397 1,416 213-46x01-432400c DELIVERY MAIL SERVICE (UPS 102 1,331 109 46 - ----- 213-46x01-433100c TRAVEL EXPENSE 2,203 - 290 3 - ----- 213-46x01-433200c CONFERENCE & SCHOOLS 245 154 148 95 - ----- 213-46x01-434600c MARKETING 16,181 17,338 13,047 723 17,000 17,000 17,000 0.00% 213-46x01-435100c LEGAL NOTICE PUBLICATION 843 2,067 1,186 705 1,050 1,050 1,050 0.00% 213-46x01-435200c GENERAL PUBLIC INFORMATION - 4,998 399 - - ----- 213-46x01-436100c Insurance - Liability/Property/Vehicle - - - 2,073 14,764 14,764 14,207 -3.77% 213-46x01-437100c PROPERTY TAXES 1,860 2,131 20,862 34,231 1,700 1,700 1,700 0.00% 213-46x01-438300c GAS, Electric, Water, Sewer, etc. - - 7,105 7,928 - ----- 213-46x01-443300c DUES, MEMBERSHIP & SUBSCRI 7,906 10,769 4,309 2,373 10,000 10,000 10,000 0.00% 213-46x01-443500c BOOKS & PAMPHLETS - - - - - ----- 213-46x01-443800c PUB WKS/ADMIN & INSP FEES - - 260 - - ----- 213-46x01-443990c MISC OTHER EXPENSE 2,180 307,568 686 58,143 2,354 2,354 3,244 37.81% 213-46x01-451010c LAND - - 118,248 307,824 - ----- 213-46x01-453010c IMPROVEMENTS - - - - - ----- 213-46x01-452010c BUILDINGS - - - - - ----- 213-46x01-456010c FURNITURE & FIXTURES - - - - - ----- 213-46x01-460300c Interfund Loan - Principal 79,176 81,029 85,348 113,108 95,730 119,640 126,258 31.89% 213-46x01-461300c Interfund Loan - Interest 45,051 40,541 34,061 46,750 46,266 40,237 33,602 -27.37% 213-46x01-461500c SA INT PYBL-LAND FOR RESAL - - - - - ----- 213-46x01-462010c FISCAL AGENT FEES - - - - - ----- 213-46x01-465010c TIF LOAN - - - - - ----- 213-46x01-465110c TIF PAYBACK INSTALLMENTS 471,176 312,890 195,749 184,070 179,947 186,383 189,926 5.55% 213-46x01-465120c LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-00000-472030c TRANSFER TO GENERAL FUND - - - - - ----- 213-00000-472030c TRANSFER TO OTHER FUNDS 356,179 - 378,680 - - ----- 213-00000-472030c TRANSFER TO DEBT SERVICE F 317,277 316,279 320,584 779,804 278,353 278,353 271,900 -2.32% 213-00000-472030c TRANSFER OUT - TRUNK FEES ---------- TOTAL EXPENDITURES 1,492,647$ 1,242,393$ 1,362,364$ 1,604,662$ 731,574$ 755,891$755,114$3.22% 2015 Proposed Budget - 2 EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA General EDA/HRA ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46301-410100 SALARIES, FULL TIME - REG 18,229$ 18,214$ 9,883$ 2,209$ 8,376$ 8,376$8,727$4.19% 213-46301-410200 SALARIES, FULL TIME - OT - - - - - ----- 213-46301-410400 SALARIES, TEMPORARY - REG - - - - - ----- 213-46301-410900 SALARIES, OTHER 570 - - - - ----- 213-46301-411100 SEVERANCE PAY - - - - - ----- 213-46301-412100 PERA CONTRIBUTIONS 1,317 1,320 716 160 628 628 655 4.30% 213-46301-412200 FICA CONTRIBUTIONS 1,098 1,091 590 124 519 519 541 4.24% 213-46301-412300 MEDICARE CONTRIBUTIONS 257 255 138 29 121 121 127 4.96% 213-46301-413100 HEALTH/DENTAL/LIFE INSURAN 4,202 4,984 2,579 594 2,362 2,362 2,754 16.60% 213-46301-413500 FLEX BENEFITS - - - - - ----- 213-46301-421990 GENL OPERATING SUPPLIES - - 1,170 - - ----- 213-46301-422990 MISC REPAIR & MTC SUPPLIES - - - - - ----- 213-46301-424100 SMALL TOOLS & EQUIPMENT - - - - - ----- 213-46301-430260 PROF SRV - CONSTRUCTION CO - - - - - ----- 213-46301-430300 PROF SRV - ENGINEERING FEE 4,438 4,533 4,461 - - -1,000 --- 213-46301-430400 PROF SRV - LEGAL FEES 1,789 10,931 10,487 6,306 10,000 10,000 10,000 0.00% 213-46301-430910 PROF SRV - Market Matching - - - 24,000 48,000 48,000 48,000 0.00% 213-46301-431990 MISC PROFESSIONAL SERVICES 5,486 6,003 32,936 997 10,000 10,000 10,000 0.00% 213-46301-432150 IT Services 691 1,397 1,397 1,416 213-46301-432400 DELIVERY MAIL SERVICE (UPS 102 1,331 109 46 - ----- 213-46301-433100 TRAVEL EXPENSE 2,203 - 290 3 - ----- 213-46301-433200 CONFERENCE & SCHOOLS 245 154 148 95 - ----- 213-46301-434600 MARKETING 16,181 17,338 13,047 723 17,000 17,000 17,000 0.00% 213-46301-435100 LEGAL NOTICE PUBLICATION 310 1,114 274 260 500 500 500 0.00% 213-46301-435200 GENERAL PUBLIC INFORMATION - 4,998 399 - - ----- 213-46301-436100 Insurance - Liability/Property/Vehicle 2,073 1,043 1,043 486 213-46301-437100 PROPERTY TAXES - 374 - 1,628 1,700 1,700 1,700 0.00% 213-46301-438200 WATER & SEWER - - - - - ----- 213-46301-438300 GAS - - - - - ----- 213-46301-443300 DUES, MEMBERSHIP & SUBSCRI 7,906 10,769 4,309 2,373 10,000 10,000 10,000 0.00% 213-46301-443500 BOOKS & PAMPHLETS - - - - - ----- 213-46301-443800 PUB WKS/ADMIN & INSP FEES - - 260 - - ----- 213-46301-443990 MISC OTHER EXPENSE 2,027 2,823 658 58,123 2,354 2,354 3,244 37.81% 213-46301-451010 LAND (or value adjusted) - - - - - ----- 213-46301-453010 IMPROVEMENTS - - - - - ----- 213-46301-456010 FURNITURE & FIXTURES - - - - - ----- 213-46301-460300 Interfund Loan - Principal - - - - - ----- 213-46301-461300 Interfund Loan - Interest - - - - - ----- 213-46301-461500 SA INT PYBL-LAND FOR RESAL - - - - - ----- 213-00000-472030 TRANSFER TO GENERAL FUND - - - - - ----- 213-00000-472030 TRANSFER TO DEBT SERVICE F - - - - - ----- 213-00000-472030 TRANSFER OUT - TRUNK FEES ---------- TOTAL EXPENDITURES 66,360$ 86,232$ 82,454$ 100,434$ 114,000$ 114,000$116,150$1.89% 2015 Proposed Budget - 3 EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF Admin TIF Administration ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46301-410100 SALARIES, FULL TIME - REG -$ -$ -$ -$ -$ -$-$ 213-46301-410200 SALARIES, FULL TIME - OT - - - - - -- 213-46301-410400 SALARIES, TEMPORARY - REG - - - - - -- 213-46301-410900 SALARIES, OTHER - - - - - -- 213-46301-411100 SEVERANCE PAY - - - - - -- 213-46301-412100 PERA CONTRIBUTIONS - - - - - -- 213-46301-412200 FICA CONTRIBUTIONS - - - - - -- 213-46301-412300 MEDICARE CONTRIBUTIONS ------- TOTAL EXPENDITURES -$ -$ -$ -$ -$ -$-$--- EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 5 TIF #5 - CONSTRUCTION 5 ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46505-430400 PROF SRV - LEGAL FEES 335$ -$ 1,044$ -$ -$ -$-$--- 213-46505-431990 MISC PROFESSIONAL SERVICES - 400 393 - - ----- 213-46505-435100 LEGAL NOTICE PUBLICATION 30 125 28 - - ----- 213-46505-437100 PROPERTY TAXES - - - - - ----- 213-46505-451010 LAND - - - - - ----- 213-46505-452010 BUILDINGS - - - - - ----- 213-46505-460300 DEBT SRV PRINCIPAL-SHRT TE - - - - - ----- 213-46505-461300 DEBT SRV INTEREST-SHRT TER - - - - - ----- 213-46505-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46505-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46505-472030 TRANSFER TO CONSTRUCTION F ---460,401 ------ TOTAL EXPENDITURES 365$ 525$ 1,465$ 460,401$ -$ -$-$--- EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 6 TIF #6 - RAINDANCE ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46506-430400 PROF SRV - LEGAL FEES 335$ -$ -$ 576$ -$ -$-$--- 213-46506-431990 MISC PROFESSIONAL SERVICES - - 393 2,760 500 500 500 0.00% 213-46506-435100 LEGAL NOTICE PUBLICATION 30 26 28 225 - ----- 213-46506-460300 DEBT SRV PRINCIPAL-SHRT TE - - - - - ----- 213-46506-461300 DEBT SRV INTEREST-SHRT TER - - - - - ----- 213-46506-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46506-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46506-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 365$ 26$ 421$ 3,561$ 500$ 500$500$0.00% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 19 TIF #19 - MISSISSIPPI SHORES ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46519-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46519-430400 PROF SRV - LEGAL FEES 61 - 1,409 - - ----- 213-46519-431990 MISC PROFESSIONAL SERVICES - - 2,568 - - ----- 213-46519-435100 LEGAL NOTICE PUBLICATION 30 27 28 20 50 50 50 0.00% 213-46519-443990 MISC OTHER EXPENSE - - - - - ----- 213-46519-451010 LAND - - - - - ----- 213-46519-460300 Interfund Loan - Principal - - - - - ----- 213-46519-461300 Interfund Loan - Interest - - - - - ----- 213-46519-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46519-465010 TIF LOAN - - - - - ----- 213-46519-465110 TIF PAYBACK INSTALLMENTS 44,193 29,418 - - - ----- 213-46519-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46519-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 44,284$ 29,445$ 4,005$ 20$ 50$ 50$50$0.00% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 20 TIF #20 - PRAIRIE WEST ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46520-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46520-430400 PROF SRV - LEGAL FEES 61 - 150 - 100 100 100 0.00% 213-46520-431990 MISC PROFESSIONAL SERVICES - - 393 - - ----- 213-46520-435100 LEGAL NOTICE PUBLICATION 30 26 28 20 50 50 50 0.00% 213-46520-443990 MISC OTHER EXPENSE - - - - - ----- 213-46520-451010 LAND - - - - - ----- 213-46520-460300 Interfund Loan - Principal 10,731 9,892 10,023 - - ----- 213-46520-461300 Interfund Loan - Interest 2,436 1,544 740 - - ----- 213-46520-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46520-465010 TIF LOAN - - - - - ----- 213-46520-465110 TIF PAYBACK INSTALLMENTS 13,108 7,624 7,175 5,919 - 6,436 6,436 --- 213-46520-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46520-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 26,366$ 19,086$ 18,509$ 5,939$ 150$ 6,586$6,586$4290.67% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 22 TIF #22 - DWNTWN REDEVELOPMT ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46522-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46522-430400 PROF SRV - LEGAL FEES 8,439 126 15,282 7,187 - ----- 213-46522-431990 MISC PROFESSIONAL SERVICES 2,765 21,051 90,966 21,684 1,707 1,707 1,707 0.00% 213-46522-435100 LEGAL NOTICE PUBLICATION 113 26 211 20 50 50 50 0.00% 213-46522-436100 Insurance - Liability/Property/Vehicle - - - - 13,721 13,721 13,721 0.00% 213-46522-437100 PROPERTY TAXES 1,860 1,757 20,862 32,603 - ----- 213-46522-438300 GAS, Electric, Water, Sewer, etc. - - 7,105 7,928 - ----- 213-46522-443990 MISC OTHER EXPENSE 153 - - - - ----- 213-46522-451010 LAND - - 118,248 307,824 --- 2015 Proposed Budget - 4 213-46522-460300 Interfund Loan - Principal - - - - - ----- 213-46522-461300 Interfund Loan - Interest - - - - - ----- 213-46522-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46522-465010 TIF LOAN - - - - - ----- 213-46522-465110 TIF PAYBACK INSTALLMENTS 103,167 61,487 63,313 60,946 60,946 60,946 60,946 0.00% 213-46522-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46522-472030 TRANSFER TO OTHER FUNDS 356,179 - 378,680 - - ----- 213-46522-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 472,676$ 84,447$ 694,667$ 438,192$ 76,424$ 76,424$76,424$0.00% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 24 TIF #24 - ST BEN'S CENTER ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46524-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46524-430400 PROF SRV - LEGAL FEES 61 - 150 - - ----- 213-46524-431990 MISC PROFESSIONAL SERVICES - 623 393 - 100 100 100 0.00% 213-46524-435100 LEGAL NOTICE PUBLICATION 30 26 28 20 50 50 50 0.00% 213-46524-443990 MISC OTHER EXPENSE - - - - - ----- 213-46524-451010 LAND - - - - - ----- 213-46524-460300 Interfund Loan - Principal - - - - - ----- 213-46524-461300 Interfund Loan - Interest - - - - - ----- 213-46524-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46524-465010 TIF LOAN - - - - - ----- 213-46524-465110 TIF PAYBACK INSTALLMENTS 67,579 42,321 42,959 41,886 41,886 41,886 41,886 0.00% 213-46524-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46524-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 67,670$ 42,970$ 43,530$ 41,906$ 42,036$ 42,036$42,036$0.00% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 29 TIF #29 - FRONT PORCH ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46529-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46529-430400 PROF SRV - LEGAL FEES 61 - 151 - - ----- 213-46529-431990 MISC PROFESSIONAL SERVICES - 623 393 - 100 100 100 0.00% 213-46529-435100 LEGAL NOTICE PUBLICATION 30 26 28 20 50 50 50 0.00% 213-46529-443990 MISC OTHER EXPENSE - - - - - ----- 213-46529-451010 LAND - - - - - ----- 213-46529-460300 Interfund Loan - Principal - - - - - ----- 213-46529-461300 Interfund Loan - Interest - - - - - ----- 213-46529-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46529-465010 TIF LOAN - - - - - ----- 213-46529-465110 TIF PAYBACK INSTALLMENTS 32,499 19,296 18,989 14,373 16,169 16,169 16,169 0.00% 213-46529-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46529-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 32,590$ 19,945$ 19,561$ 14,393$ 16,319$ 16,319$16,319$0.00% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 30 TIF #30 - CMHP ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46530-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46530-430400 PROF SRV - LEGAL FEES 61 - - - - ----- 213-46530-431990 MISC PROFESSIONAL SERVICES - 623 393 - 100 100 100 0.00% 213-46530-435100 LEGAL NOTICE PUBLICATION 30 26 28 20 50 50 50 0.00% 213-46530-443990 MISC OTHER EXPENSE - - - - - ----- 213-46530-451010 LAND - - - - - ----- 213-46530-460300 Interfund Loan - Principal 5,809 4,037 3,860 2,324 2,324 2,381 2,441 5.03% 213-46530-461300 Interfund Loan - Interest 4,075 3,930 3,829 3,751 3,752 3,694 3,634 -3.14% 213-46530-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46530-465010 TIF LOAN - - - - - ----- 213-46530-465110 TIF PAYBACK INSTALLMENTS - - - - - ----- 213-46530-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46530-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 9,975$ 8,616$ 8,110$ 6,095$ 6,226$ 6,225$6,225$-0.02% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 34 TIF #34 - I94/INTERCHANGE ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46534-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46534-430400 PROF SRV - LEGAL FEES 61 - - - - ----- 213-46534-431990 MISC PROFESSIONAL SERVICES - - 393 - 100 100 100 0.00% 213-46534-435100 LEGAL NOTICE PUBLICATION 30 26 28 20 50 50 50 0.00% 213-46534-443990 MISC OTHER EXPENSE - - - - - ----- 213-46534-451010 LAND - - - - - ----- 213-46534-460300 Interfund Loan - Principal - - - - - ----- 213-46534-461300 Interfund Loan - Interest - - - - - ----- 213-46534-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46534-465010 TIF LOAN - - - - - ----- 213-46534-465110 TIF PAYBACK INSTALLMENTS - - - - - ----- 213-46534-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46534-472030 TRANSFER TO DEBT SERVICE F 317,277 316,279 320,584 319,403 278,353 278,353 271,900 -2.32% TOTAL EXPENDITURES 317,368$ 316,305$ 321,005$ 319,423$ 278,503$ 278,503$272,050$-2.32% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 35 TIF #35 - LANDMARK SQUARE II ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46535-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46535-430400 PROF SRV - LEGAL FEES 61 - - - - ----- 213-46535-431990 MISC PROFESSIONAL SERVICES - - 393 - - ----- 213-46535-435100 LEGAL NOTICE PUBLICATION 30 26 28 20 50 50 50 0.00% 2015 Proposed Budget - 5 213-46535-443990 MISC OTHER EXPENSE - - - - - ----- 213-46535-451010 LAND - - - - - ----- 213-46535-460300 Interfund Loan - Principal - - - - - ----- 213-46535-461300 Interfund Loan - Interest - - - - - ----- 213-46535-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46535-465010 TIF LOAN - - - - - ----- 213-46535-465110 TIF PAYBACK INSTALLMENTS - - - - - ----- 213-46535-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46535-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 91$ 26$ 421$ 20$ 50$ 50$50$0.00% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 36 TIF #36-DAHLHEIMER DIST ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46536-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46536-430400 PROF SRV - LEGAL FEES 1,918 - - - - ----- 213-46536-431990 MISC PROFESSIONAL SERVICES - - 393 - 100 100 100 0.00% 213-46536-435100 LEGAL NOTICE PUBLICATION 30 26 28 20 50 50 50 0.00% 213-46536-443990 MISC OTHER EXPENSE - - - - - ----- 213-46536-451010 LAND - - - - - ----- 213-46536-460300 Interfund Loan - Principal 39,441 42,693 45,512 47,529 50,121 50,121 53,431 6.60% 213-46536-461300 Interfund Loan - Interest 25,335 22,083 18,291 15,734 13,143 13,143 9,832 -25.19% 213-46536-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46536-465010 TIF LOAN - - - - - ----- 213-46536-465110 TIF PAYBACK INSTALLMENTS - - - - ----- 213-46536-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46536-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 66,724$ 64,802$ 64,224$ 63,283$ 63,414$ 63,414$63,413$0.00% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 37 TIF #37-KARLSBURGER FOODS ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46537-430250 PROF SRV - CONSTRUCTION CO -$ -$ -$ -$ -$ -$-$--- 213-46537-430300 PROF SRV - ENGINEERING FEE - - - - --- 213-46537-430400 PROF SRV - LEGAL FEES 61 - - - --- 213-46537-431990 MISC PROFESSIONAL SERVICES - - 393 - 100 100 100 0.00% 213-46537-435100 LEGAL NOTICE PUBLICATION 30 27 28 20 50 50 50 0.00% 213-46537-443990 MISC OTHER EXPENSE - - - - --- 213-46537-451010 LAND - - - - --- 213-46537-460300 Interfund Loan - Principal 17,037 18,171 19,297 20,249 - 21,590 23,016 --- 213-46537-461300 Interfund Loan - Interest 6,759 6,616 5,253 4,220 6,586 2,878 1,451 -77.97% 213-46537-462010 FISCAL AGENTS' FEES - - - - --- 213-46537-465010 TIF LOAN - - - - --- 213-46537-465110 TIF PAYBACK INSTALLMENTS - - - - -3,543 --- 213-46537-465120 LOCAL CONTRIB - TIF PENALT - - - - --- 213-46537-472030 TRANSFER TO DEBT SERVICE F ------- TOTAL EXPENDITURES 23,887$ 24,814$ 24,971$ 24,489$ 6,736$ 24,618$28,160$318.05% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA - TIF 38 TIF #38 - WALKER IN-STORE ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46538-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ --- 213-46538-430400 PROF SRV - LEGAL FEES 61 - - - --- 213-46538-431990 MISC PROFESSIONAL SERVICES - - - - 100 100 100 0.00% 213-46538-435100 LEGAL NOTICE PUBLICATION 30 27 393 - 50 50 50 0.00% 213-46538-443990 MISC OTHER EXPENSE - - 28 20 --- 213-46538-451010 LAND - - - - --- 213-46538-460300 Interfund Loan - Principal 6,158 6,236 6,656 6,882 7,161 7,161 7,448 4.01% 213-46538-461300 Interfund Loan - Interest 6,446 6,368 5,948 5,698 5,439 5,439 5,137 -5.55% 213-46538-462010 FISCAL AGENTS' FEES - - - - --- 213-46538-465010 TIF LOAN - - - - --- 213-46538-465110 TIF PAYBACK INSTALLMENTS - - - - ----- 213-46538-465120 LOCAL CONTRIB - TIF PENALT - - - - --- 213-46538-472030 TRANSFER TO DEBT SERVICE F ------- TOTAL EXPENDITURES 12,695$ 12,631$ 13,025$ 12,600$ 12,750$ 12,750$12,735$-0.12% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % TIF 1-39 SMC TIF 1-39 SMC ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46539-430300 PROF SRV - ENGINEERING FEE -$ 6,734$ 2,146$ -$ -$ -$-$--- 213-46539-430400 PROF SRV - LEGAL FEES - 5,410 144 - - ----- 213-46539-431990 MISC PROFESSIONAL SERVICES - 29,743 393 160 - ----- 213-46539-435100 LEGAL NOTICE PUBLICATION - 461 - 20 - ----- 213-46539-436200 PROPERTY INSURANCE - - - - - ----- 213-46539-438100 ELECTRIC - - - - - ----- 213-46539-438300 GAS - - - - - ----- 213-46539-443990 MISC OTHER EXPENSE - 211 - - - ----- 213-46539-451010 LAND - - - - - ----- 213-46539-460300 Interfund Loan - Principal - - - 36,124 36,124 38,387 39,922 10.51% 213-46539-461300 Interfund Loan - Interest - - - 17,347 17,346 15,083 13,548 -21.90% 213-46539-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46539-465010 TIF LOAN - - - - - ----- 213-46539-465110 TIF PAYBACK INSTALLMENTS - - - - ----- 213-46539-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46539-472030 TRANSFER TO OTHER FUNDS - - - - - ----- 213-46539-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES -$ 42,559$ 2,683$ 53,651$ 53,470$ 53,470$53,470$0.00% 2015 Proposed Budget - 6 EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA TIF 22-1 TIF 22.1 - FLUTH/CUB FOODS ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46581-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46581-430400 PROF SRV - LEGAL FEES - - - - - ----- 213-46581-431990 MISC PROFESSIONAL SERVICES - - - - - ----- 213-46581-435100 LEGAL NOTICE PUBLICATION - - - - - ----- 213-46581-436200 PROPERTY INSURANCE - - - - - ----- 213-46581-438100 ELECTRIC - - - - - ----- 213-46581-438300 GAS - - - - - ----- 213-46581-443990 MISC OTHER EXPENSE - - - - - ----- 213-46581-451010 LAND - - - - - ----- 213-46581-460300 Interfund Loan - Principal - - - - - ----- 213-46581-461300 Interfund Loan - Interest - - - - - ----- 213-46581-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46581-465010 TIF LOAN - - - - - ----- 213-46581-465110 TIF PAYBACK INSTALLMENTS 86,214 51,284 52,809 50,834 50,834 50,834 50,834 0.00% 213-46581-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46581-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 86,214$ 51,284$ 52,809$ 50,834$ 50,834$ 50,834$50,834$0.00% EDA FUND 2010 2011 2012 2013 2014 2014 2015 % EDA TIF 22-5 TIF 22.5 - AMOCO ACTUAL ACTUAL ACTUAL ACTUAL BUDGET PROJECTED BUDGET CHANGE 213-46585-430300 PROF SRV - ENGINEERING FEE -$ -$ -$ -$ -$ -$-$--- 213-46585-430400 PROF SRV - LEGAL FEES - - - - - ----- 213-46585-431990 MISC PROFESSIONAL SERVICES - - - - - ----- 213-46585-435100 LEGAL NOTICE PUBLICATION - - - - - ----- 213-46585-436200 PROPERTY INSURANCE - - - - - ----- 213-46585-438100 ELECTRIC - - - - - ----- 213-46585-438300 GAS - - - - - ----- 213-46585-443990 MISC OTHER EXPENSE - - - - - ----- 213-46585-451010 LAND - - - - - ----- 213-46585-460300 Interfund Loan - Principal - - - - - ----- 213-46585-461300 Interfund Loan - Interest - - - - - ----- 213-46585-462010 FISCAL AGENTS' FEES - - - - - ----- 213-46585-465010 TIF LOAN - - - - - ----- 213-46585-465110 TIF PAYBACK INSTALLMENTS 16,953 10,203 10,504 10,112 10,112 10,112 10,112 0.00% 213-46585-465120 LOCAL CONTRIB - TIF PENALT - - - - - ----- 213-46585-472030 TRANSFER TO DEBT SERVICE F ---------- TOTAL EXPENDITURES 16,953$ 10,203$ 10,504$ 10,112$ 10,112$ 10,112$10,112$0.00% 2015 Proposed Budget - 7 CITY OF MONTICELLO REDEVELOPMENT PRIORITIES POLICY The Monticello Economic Development Authority (EDA) is committed to redevelopment as an important and necessary tool to maintain the health of the community and encourage economic development. For the purpose of this document, the term “redevelopment” carries a broad definition including, but not limited to, activities associated with neighborhood preservation and revitalization, commercial and industrial stabilization and growth, redevelopment and revitalization of downtown Monticello. The EDA will serve as a catalyst for redevelopment based on the following policies. 1. The community needs for redevelopment will always surpass the ability of the EDA and/or other funding entities to fully finance and/or be a partner in such endeavors. In order to maximize the effect of EDA involvement, redevelopment priorities have been established as illustrated in Attachment I. This priority list and the redevelopment policies will be reviewed and updated by the EDA on an annual basis. 2. The TIF Management Plan, available and applicable grants, and other applicable funding opportunities will be utilized as a guide to evaluate availability of financial resources. 3. The EDA recognizes that redevelopment scenarios are extremely complex and each plan will demand a unique set of solutions. 4. Creation of major redevelopment plans shall include participation by the community including but not limited to, residents, business and property owners, affected government agencies and other stakeholders. 5. Solutions for redevelopment shall be comprehensive in nature and assume market realities. 6. Approved plans shall be positively promoted and endorsed by the City Council, City Boards and staff. 7. The EDA will continue to be innovative in developing creative solutions and resources to meet its redevelopment needs. The EDA will continue to seek outside funding sources to supplement the EDA’s financial resources. 8. When seeking EDA and City Council approval for acquisition of property, the following factors will be taken into account: a. Proximity to priority project areas (see Attachment I) b. Reasonable purchase price c. County assessed value d. Recent completed appraisal, if any e. Property key to transportation or public utility projects f. Number and type of existing tenants g. Timeline of new development potential h. Availability and appropriateness of eminent domain 9. Reviewing appropriateness of purchasing property based on the factors outlined in Number 8 will assist in reducing land-banking by the City. 10. The end objectives of redevelopment efforts include: a. Stabilizing and increasing tax base b. Removing influences that can or have negatively affected the community c. Rejuvenating the appearance and perception of a given area d. Leveraging private funding where feasible e. Jobs created and/or retained 11. Redevelopment plans are viewed as inherently flexible and it is recognized that the component parts of a plan may change from time to time in order for it to be implemente d within the market place. ***************************************************************************** ADOPTED BY the Monticello Economic Development Authority this 14th day of March, 2012. CITY OF MONTICELLO ____________________________________ Bill Demeules, President ATTEST: _______________________________ Megan Barnett Livgard, Executive Director Attachment I – Redevelopment Priorities Primary Activities: Implementation of the Embracing Downtown Plan a. Block 34 b. Block 31 c. Other areas as deemed appropriate and driven by private investment Redevelopment and revitalization of blighted residential properties Potential Future Activities: Block 35 Block 33 Design enhancements to major intersections and street corridors CITY OF MONTICELLO CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY BUSINESS SUBSIDY CRITERIA I. Purpose This document includes the criteria to be considered by the City of Monticello (“City”) and the City of Monticello Economic Development Authority (“EDA”) to evaluate the granting of business subsidies. The intent of the City and EDA in adopting these criteria is to comply with Minnesota Statutes, Sec. 116J.993-116J.994 (the “Act”). The City and EDA hereby adopt the definitions contained in the Act for application in the criteria. II. Types of Business Subsidies The EDA shall have the authority to administer the following programs for the granting of business subsidies: 1. Tax Increment Financing (TIF) 2. Greater Monticello Enterprise Fund (GMEF) 3. Small Cities Economic Development Set Aside Fund (ED) The EDA has separately developed guidelines for each of these types of subsidies (the “Guidelines”). To the extent that the Guidelines contain more specific policies for each type of subsidy, those Guidelines control. Notwithstanding anything to the contrary herein, the City (and EDA, subject to City approval) reserve the right to grant any type of business subsidy authorized by law, without limitation. 2 III. Goals and Objectives/Public Purpose It is the City’s and EDA’s intent to support and comply with the goals and objectives stated in the City of Monticello’s Comprehensive Plan in granting business subsidies, and with the public purpose requirements of the Act. The following goals and objectives are general guidelines to assist in determining the granting of a Business Subsidy. The City and EDA recognize that every proposal is unique and nothing in these criteria or in the Business Subsidy policy shall be deemed to be an entitlement. a. Attracting New Businesses & Expanding Tax Base 1. Increase in tax base. (Cannot be the only criteria.) 2. Promote and enhance industrial and commercial diversity b. Attracting New Jobs & Job Retention 1. Jobs and Wages. It is the City’s and EDA’s goal that the subsidy recipient will create the maximum number of livable wage jobs possible. (The business subsidy agreement must include numbers and wages to be achieved within two years of the benefit date.) 2. Jobs and wages in this context may include jobs to be retained but only if job loss is “imminent and demonstrable”. c. Business Retention: Promote and maintain industrial and commercial diversity. d. Enhancing Downtown: Promote revitalization and redevelopment e. Facilitating Redevelopment: Promote redevelopment objectives and removal of blight, including pollution cleanup. f. Housing: Diversify the housing stock available within the community. 3 IV. Subsidy Agreement. In the implementation of any subsidy granted by City or EDA, the parties will be required to enter into a formal agreement which identifies the amount and nature of the subsidy and articulates the goals and objectives which are intended to be implemented. In addition, the agreement must establish the number of full-time or part-time jobs and the wages for those jobs which are to be established (or retained) within two years of the benefit date. The agreement must also contain a penalty for failure to meet those goals. Finally, the agreement will require that the recipient continue operations at the site for at least five years. V. Compliance and Reporting Requirements. It will be necessary for both the recipient and the City or EDA to comply with the reporting and monitoring requirements of the statute. VI. History. Public Hearing held by the EDA on March 11, 2009 approved on March 11, 2009. Public Hearing held by the City Council on March 23, 2009, approved on March 23, 2009. EDA Agenda – 02/11/15 1 2. Consideration of 2015 Work Plan Goals and Objectives (AS) A. REFERENCE AND BACKGROUND The EDA will be asked to participate in a workshop discussion for purposes of setting a Work Plan for 2015. The EDA did not adopt a Work Plan in 2014, but did hold a workshop to discuss ideas and priorities for the coming year. The EDA’s enabling resolution specifies that the “EDA may annually develop and present an economic development strategy and present it to the City Council for consideration and approval.” B. ALTERNATIVE ACTIONS 1. Motion to direct staff to prepare a 2015 Work Plan as identified in the workshop of February 11th, 2015. C. STAFF RECOMMENDATION Not applicable. D. SUPPORTING DATA A. 2013 Work Plan B. 2015 Adopted Budget Summary C. Adopted Redevelopment Policies D. Business Subsidy Policies E. Online Resources o 2008 Monticello Comprehensive Plan: Chapter 4 – Economic Development Embracing Downtown Plan