HRA Agenda 05-13-1992 SpecialAGENDA
MONTI CELLO HOUSING AND REDEVELOPMENT AUTHORITY SPECIAL MEETING
Wednesday, May 13, 1992 - 6:310 FN
City Hall
MEMBERS: Chairperson Al Larson, Ben Smith, Lowell Schrupp,
Everette Ellison, and Tom St. Hilaire.
STAFF: Rick Wolfstelle r, Jeff O'Neill, and 011ie Koropchak.
GUEST: Floyd and Edward Kruse.
1. CALL TO ORDER.
2. CONSIDERATION TO DISCUSS THE KRUSE COUNTER—OFFER FOR POTENTIAL
ACQUISITION.
3. CONSIDERATION TO AUTHORIZE BDS TO PREPARE A RESOLUTION AND
PUBLIC HEARING NOTICE FOR ACQUISITION OF THE KRUSE PROPERTY.
6. ADJOURNMENT.
HRA AGENDA
5-13-•92
CONSIDERATION TO DISCUSS THE KRUSE COUNTER-OFFER FOR POTENTIAL
ACQUISITION.
A. REFERENCE AND BACKGROUND.
At the NRA meeting on April 23, the HRA passed a motion
authorizing Jeff O'Neill and Koropchak to submit a firm HHA
purchase offer of $20,000 maximum for the Kruse property. At
that time, Mr. O'Neill indicated to the HRA that lie thought
the Kruse's asking price was $30,000. With authorization from
the HRA, Mr. O'Neill contacted Mr. Kruse the following morning
and presented the HRA offer of $20,000 which was not accepted.
Thereafter, Mr. O'Neill asked Mr. Kruse to attend a special
HRA meeting.
On May 6, the HRA met with Mr. Edward and Mr. Floyd Kruse to
discuss their counter-offer of $24,000 for the northerly 80 ft
of Lots 9 and 10. Mr. Kruse pointed out that in his opinion
a wooded lot in Monticello was worth more than $16,000 (less
demolition cost of $4,000) based on HRA offer of $20,000. He
also noted construction of a new home would have occurred if
the city had not made an error, no need for a variance. The
HRA discussed other land sales, the small lot size, and the
need to make the entlrt project cash flow. Koropchak pointed
out the lot was leas than 10,580 sq ft and asked if the water
and sewer services were capped at the property line.
Estimated cost to cap the services is approximately $1,000.
Koropchak informed the HRA of the need for a City Council
public hearing and adoption of a resolution prior to any
acquisition of property by the HRA within a redevelopment
project area. The public hearing notice must be publicized
not less than 10 days but not more than 30 days in the local
newspaper; first opportunity for a public hearing is Tuesday,
May 26. Mr. Kruse had no problem waiting for the public
hearing but did want a decision from the HRA prior to May 26.
Mr. Kruse's offer was $24,000 ($20,000 for the lot and $4,000
for demolition coat). The HNA tabled the agenda item to allow
further study of the feasibility to redevelop and cash flow
this project area, and to allow input from Mr, St. Hilaire.
The HRA will meet as soon as possible.
Pago 1
HRA AGENDA
y 5-13-92
Since that meeting and this past Monday, Mr. Kevin Schmitz,
Prestige Bu alders; Gary Anderson, Building Official; and
Koropchak toured the site. Kevin was very interested in the
redevelopment project area from the standpoint of a marketable
site. And he agreed with the HRA on the ideal location for
the elderly: Close to downtown and the park, and a view of
the river. In brief discussions with Gary, the redevelopment
of seven cottege homes would require a public hearing for a
rezoning from R-1 to R-2, the need to plat the property, and
the need for a variance request for 5 feet side set backs.
Kevin was go.Ing to prepare construction costs associated with
the redevelopment. Koropchak checked with the County for
delinquent taxes and assessments on all four properties and
1992 estimated market values and taxes, and prepared base
valuations for the redevelopment project area. This
Information is all enclosed and will be reviewed at the
meeting.
Other information for the HRA to consider when discussing the
purchase of the Kruse property:
ASKING PRICE: $30,000
HRA OFFER: $20,000
COUNTER-OFFER: $24,000
LOT SIZE: LESS THAN 10,880 SQ FT
ESTIMATED MARKET VALUE OF LAND $14,000
BRIAR OAKS LOTS: $17,SOO APPROXIMATELY 12,000 SQ FT.
$27,500 APPROXIMATELY 24,000 SQ FT (1)
(SEE ENCLOSED INFORMATION).
CONSIDERATIONS: - BUILDABLE LOT
- ALL BASEMENT FOUNDATION MATERIALS
REMOVED.
- FILL BASEMENT HOLE WITH COMPACTED
GRANULAR MATERIAL.
- SEWER SERVICE HAS BEEN CAPPED ON FRONT
STREET.
- WATER SERVICE MUST BE CAPPED ON LOCUST
STREET.
Page 2
HRA AGENDA
5-13-92
- DISCONNET ALL OTHER UTILITIES THAT
SERVICED THE PROPERTY.
- REMOVE OR DEMOLISH GARAGE INCLUDING
FLOOR.
- REMOVE OR DEMOLISH OUTDOOR STORAGE
SHED.
- SELLER PAYS TAXES ASSESSED IN 1991, DUE
AND PAYABLE IN 1992.
- • OR SELLER PAYS TAXES ASSESSED IN
1992, DUE AND PAYABLE IN 1993.
- BUYER PREPARES PURCHASE AGREEMENT.
- SELLER UPDATES ABSTRACT.
- BUYER HAS A TITLE OPINION SEARCH
COMPLETED.
- CONTINGENT UPON PUBLIC HEARING OUTCOME
ON JUNE 8 AND ADOPTION OF A RESOLUTION BY
CITY COUNCIL.
- SELLER PREPARES WARRANTY DEED.
- T FILES DOCUMENTS AT COUNTY.
The HRA can purchase the property and the worst case scenario
being a lose of dollars. Inorder to meet Statutory
requirements for public hearing notice publication, the City
Council public hearing and resolution adoption must now be
held Monday, June 8, 1992.
B. ALTERNATIVE ACTIONS.
1. A motion to purchase the Edward Kruse property at an
agreed price of dollars between seller
(Edward Kruse) and buyer (Monticello Housing and
Redevelopment Authority) and list contingencies.
2. A motion acknowledging the withdrawal of interest to
purchase the Edward Kruse property.
3. As otherwise suggested by the HRA.
4. Table the agenda item.
Page 3
NRA AGENDA
5-13-92
STAFF RECOMMENDATION .
If the HRA finds this redevelopment project area to meet the
public purposes of the redevelopment plan and if the buyer and
seller can agree upon a purchase price, than staff recommends
the purchase of the Kruse property contingent upon the Council
public hearing and findings of the adopted resolution, and
other designated contingencies.
SUPPORTING DATA.
Copies of the 1992 market values and taxes, base valuations,
maps, and Prestige cottege home development concepts.
Page 4
40.027 ECONOMIC DEYEt.OPMENT 45 1,
is situated, for its study, or, if no planning agency exists, the plan shall be submitted
to an agency indicated by the governing body of the city. An authority shall request the ,
written opinion of the planning or other agency on all redevelopment plans submitted
to it prior to approving those redevelopment plans, and the planning or other agency
shall submit its written opinion within 30 days.
History: 1987 c 291 s 27
169.028 MUNICIPAL GOVERNING BODI'.
Subdivision 1. Findings, notice. determination. When an authority determines that
a redevelopment project should be undertaken. it shall apply to the governing body of
the city in which the project is located for approval. The application shall be accompa.
nied by a redevelopment plan, a statement of the method proposed for financing the
project, and the written opinion of the planning agency, if there is one. Before appres-
ing any redevelopment plan, the governing body shall hold a public hearing thereon
after published notice in a newspaper of general circulation in the municipality at least
once not less than ten days nor more than 30 days prior to the date of the hearing,
Subd. 2. Findings, notice, determination: governing body. The authority shall not
proceed with the project unless the governing body finds by resolution that:
(1) the land in the project area would not be made available for redevelopment
without the financial aid to be sought;
(2) the redevelopment plans for the redevelopment areas in the locality will afford
maximum opportunity, consistent with the needs of the locality as a whole, for the rede-
velopment of the areas by private enterprise; and
j (3) the redevelopment plan conforms to a general plan for the development of the
t locality as a whole.
The governing body shall within 30 days after submission of the application. or
resubmission as hereinafter provided, give written notice to the authority of its decision
with respect to the project. When an authority has determined the location of a om
t posed redevelopment project, it may, without awaiting the approval of the govemtng
body, proceed, by option or otherwise, to obtain control of the real property within tht
area, but it shell not, without the prior approval by the governing body of the redesdop
mens plan, unconditionally obligate itself to purchase any such property. .4 plan which
c has not been approved by the governing body when submitted to it may he again sal.
mitted to itwith the modifications necessary to meet its objections. Once approved. the
determination of the authority to undertake the project and the resolution of the go-
eming body shall be conclusive, in any condemnation proceeding, of the public need
} for the project.
Subd. 3. Acgsdsilion of open land. A redevelopment project may include any aarl
or undertaking to acquire open or undeveloped land determined to use blighted b) sV,
tue of the following conditions:
(1) unusual and difficult physical characteristics of the ground;
(2) the existence of faulty planning characterized by the subdivision or We diad
laid out in disregard of the contoun or of irregular form and shape or of inadeQ1110
r size; Or
(3) o combination of these or other conditions which have prevented tsotttsi
j development of the land by private enterprise and have resulted in a stagntat ante
unproductive condition of land potentially useful and valuable for contnbutsng rofy
j public health, safety, and wolfare. Acquisition of such land shall be a rede`t1a0� .
project only if a redevelopment plan has been adopted which pros ides for the
tion of these conditions, thereby making the land useful and valuable for toatn�M
to the public health, safety, and welfare and the acquisition of the land is tteeeta9
carry out the redevelopment plan.
Subd. 1. Actialsitlon of astoed or Inappropriately used land• A recleveloDdoo
i ecu may include any work or undertaking to acquire land or space that Is
d unused, underused or inappropriately used, including infrequentlY used rail
ECONOMICoEVEIAPMFNraaan
eto has been discharged, other than dishonorably, from, or the family of
who died in. the armed forces of the United States, if that family
iation for admission to the project within any time limit specified by
applicable to federal financial assistance for the project. If it is found upon
that the net income of any families have increased beyond the maximum
xed pursuant to section 469.022 for continued occupancy in the hour-(ryathes
7i,
shall be required to move from the project.1987
c 291 s 23pO%-ER
OF AUTHORITY.contained
in sections 469.016 to 469.024 shall be construed as limiting
"rR of11111111aan authority (1) with respect to a housing project to vest in an obligee ther
event ofs default by the authority, to take possession or cause the appoint-
from by
da receiver of the project, free the restrictions imposed this section or
or (2) with respect to a redevelopment project, in the event of a default
) ,j
rp469.023:
R user or lessee of land, to acquireproperty and opmtc it free from such
_�
Mawr. 1987 c 291 s 24
S@d DEMOLITION OF UNSAFE OR UNSANITARY BUILDINGS.
I!
No project for low -rent housing or the clearance of a blighted area involving the
Wom , ion of new dwellings shall be undertaken by a housing authority unless, subse-
I r_
Hass to the initiation of the project, there has been or will be elimination by demoli-
�((
ML condemnation, and eBective closing, or compulsory repair, of unsafe or-
soyury buildings situated in the arca of operation substantially equal in number to
s
oa awnber of dwelling units provided by the project. The elimination may, upon
)
waposal by the commissioner of trade and economic development, be deferred for a
y 1
noddeterminedbythecommissioneriftheshortageofdecent,safe,orsanitaryhous-
1
.4 available to families of low income is w acute as to fora dangerous overcrowding
of tbmc families.
History: 1987 c 291 s 23; 1987c Man I s 26 suhd 2
40.026 EXISTING BUILDINGS; ACQUISITION, REPAIR.
i#
An authority may purchase, lease, or otherwise acquire existing buildings for rcha-
bilitauon into low -rent housing. The provisions of sections 469.001 to 469.047 relating
as other low -rent housing projects shall apply to the projects. Before proceeding with
ahr project. an authority shall make an analysis demonstrating:
i
( 1) the buildings to he acquired or leased shall be in such condition that it is feasi-
ble to remodel, repair, or reconstruct them and that the buildings, when rehabilitated,
%III provide decent, safe, and sanitary housing:
Cl the rehabilitation of the buildings comprising the project will prevent or arrest
the spread of blight was to protect the neighborhood in which the buildings are located;
and
131 the rehabilitated buildings will provide low -rent housing, will help to conserve
the existing housing supply, and will otherwise accomplish the purposes of sections 469.
001 to 469.047.
Nothing in this Lection shall limit the powers of an authority with respect to a rede-
vNopment project.
)
History: 1987 c 291 s 26
1
469,027 REDE%'EI.OPMENT PLAN.
Any person may submit a redevelopment plan to an authority, or an authority may
considera redevelopment plan on its own initiative. An authority shall immediately
transmit the plan to the planning agency of the city in which the area to be redeveloped
r
ECo%osstr uevl:usPaEM 469.029
r d ' facilities, and excessive or vacated railroad nghtsof-way: air rights over
w -revs• railroads, waterways, and similar locations: land which is occu.
f-C.
rcttonally obsolete nonresidential buildings. or is used for low utility' pur-
covered by shallow water• or is subject to periodic flooding, or consists of
nderused slips or dock areas or other waterfront property. This subdivision
to land or space that the authority determines may be developed at a cost
related to the public purpose to be served withoutmajor residential clear.
iO. and with full consideration of the preservation of beneficial aspects of
nd natural environment, for uses that are consistent with emphasis on hour
and moderate income families. These uses include the provision of schools,
arks and other essential public facilities and, where appropriate, all uses
with new community development programs as defined in the United States
wth and New•Community' Development Act of 1970, asamended, or similar
undertakings related to inner city' needs- including concentrated sources of
�aymcnt.
f Sood. 5. Early acquisition. When an authority has determined the location of a
'P Pwd redevelopment project• but prior to the approval of the redevelopment plan
did project as provided in subdivision ?, the authority may acquire individual tracts
• itMW property with the approval of the governing body as to each separate tract.
ggim approving early acquisition, the governing body shall hold a public hearing on
& proposed acquisition activities after published notice in a newspaper of general cir-
Cdation to the municipality at least once not less than ten days nor more than 30 days
prior to the date of the hearing.
Thr shall not proceed with the acquisition unless the governing body
PMd+ rrsolutio but (11 the proposed acquisition is necnsary to carry out public
c! rov, me to the area, or that the acquisition will contribute to the elimination of
Not or deterioration within the area or that the acquisition is necessary to relieve
►ardship: and (') there is a feasible method for the relocation of families and individu-
ab to be displaced by the proposed acquisition.
The governing body may in approving early acquisition, agree to assume the
tponsihuny for any loss that may anse as a result of the acquisition of land and
related activities, including any costs of demolition, removal, and relocation• in the
event that the properly so acquired is not used for urban renewal purposes because the
urban renewal plan is not approved, or is amended to omit the acquired propertyor
is abandoned for any reason. Nothing in this subdivision shall he construed to waive
the requirement for public hearing upon the redevelopment plan for the redevelopment
project.
lliston': /937 c 291 1 :R
469.0:9 MSPOSA1. OF PROPER7l'.
Subdivision I. Sale, lease, or development. In accordance with a redevelopment
Plan. an authority may make any of its land in a redevelopment project available for
use by private individuals, firms, corporations, partnerships. insurance companies, or
other prisate interests, or by public agencies, by sale, leasr, or otherwise, or the author-
uy nyelf may retain property' for redevelopment by it. The land shall be made available
at a price that shall, r%cept as provided for to suhdtvistons 9 and 10, take into consider -
Ilion the nttmated fair market or rental value of the cleared land asdetermined pursu.
ant to %cotton 469.032, for proposed uses in accordance with the redevelopment plan.
Subd. '_. Notice; public hearing; determination; term+ and loadltiunt. Any such
lease or sale may he made without public bidding but only after a public hearing', after
published notice, by the outhonty at least once not less than ten days not more than
30 days prior to the date of the hearing upon the proposed lease or tale and the provi-
sions thereof. The terms of any such lease shall he lived by the authority', and the instru.
ment of Icasc may provide for renewals upon reappraisals and with rentals and other
provisions adjusted to the reappraisals. Every such Icau or sale +hail provide that the
lesser or purchaser shall carry out or cause to he carried out the approved project area
l CITY OF MONTICELLO
BLOCK 54
1992 MARKET VALUES AND TAXES
155-010-054090 Kruse Northerly 80 ft of Lots 9 and 30
ENV $53,000
T $ 529.36
No assessments
No delinquet taxes or assessments
Lot 132 X 80 - < 10,560 sq ft
155-010-054991 Bostic Lots 9 and 10, exc the northerly 80 ft
EMV $39,100
T $ 390.54
A $ 83.22
REB $ 456.66
No delinquet taxes or assessments
Lot 132 X 95 0 11,220 sq ft
155-010-054070 O'Connor Lot 7 exc easterly 33 ft and Lot 8
EMV $53,500
T $ 534.36
No assessments
No delinquet taxes or assessments
Lot 99 X 148.5 a 14,701.5 aq ft
155-010-054060 Schlief Easterly 33 ft of Lot 7, and Lot 6
EMV $39,500
T $ 394.52
A $ 100.34
REB $ 550.50
No delinquet taxes or assessments
Lot 99 X 132 a > 13,068 eq ft
FRONT SET 13ACK (SHORTEST SIDE) 30 FEET
REAR SET BACK 30 FEET
SIDE SET BACK 10 FEET
ROAD SIDE SET BACK 20 FEET
NORTHERLY BLOCK 54 HAS A MINIMUM DEPTH 132 FT AND MAXIMUM 165 FT
HAS A WIDE OF 330 FT
HAS A TOTAL OF 49,005 SQ FT
REZONE FROM R1 TO R2
PLAT PROPERTY WITH VARIANCE FOR 5 FT SIDE SETBACKS
FOR DEVELOPMENT OF SEVEN COTTEQE HOMES
COTTEOE HOMES 49 FEET DEPTH AND 40 FEET WIDE (1,545 SQ FT)
52 PERT DEPTH AND 40 FEET WIDE (1,410 SQ FT)
r PRESTIOE.VAL
1
BASE
VALUATIONS
Cottege home
1,545 sq
ft @ $53.25 per
eq ft (grade
7.5) _
$82,271.25
1,410 sq
ft @ $53.85 per
sq ft (grade
7.5) _
$75,928.50
Garage
484 sq ft
@ $12.00 per sq ft
$ 5,808.00
Land
49,005 sq
ft @ $1.28 per
sq ft
$62,726.40
HOME 1,545
$82,271.25
$72,000.00 @
.01
$ 720.00
GARAGE
5,808.00
25,040.16 @
.02
500.80
LAND
8,960.91
$97,040.16
$97,040.16
$1,220.80
HOME 1,410
$75,928.50
$72,000.00 @
.01
$ 720.00
GARAGE
5,808.00
18,697.41 @
.02
$ 373.95
LAND
8,960.91
$90,697.41
$90,697.41
$1,093.95
4 @ $1,220.80
$4,883.20
3 @ $1,093.95
X43,281.85
$8,165.05
- NEW CAPACITY VALUE _
$8,165.05
BASE CAPACITY
VALUE
01,851.00
CAPTURED CAPACITY
VALUE _
$6,314.05
1992 TAX RATE
.99852
ANNUAL TAX INCREMENT
$6,304.71
$6,304.71 X 15
YEARS - $94,570.58
•• BASE VALUE
- NO AIR-CONDITION,
NO FINISHED BASEMENT
CONSTRUCTION
GRADE THE SAME AS BRIAR OAKS DEVELOPMENT
LAND VALUE
AT TODAY'S MARKET VALUE
r PRESTIOE.VAL
1
,o
coi
c
Prestige Builders ofst. Cloud
Bi ZAR OAs 88T11TB
Lot
1
$24,700
Lot
2
$24,700
Lot
3
$26 600
Lot
4
$25 800
Lot
5
$26,200
Lot
6
$25,600
Lot
7
$24,200
Lot
a$24,600
$22,800
Lot
9
$22,500
Lot
10
$17,800
Lot
11
$18,400
PHASS I � Bleak
Lot
IZ ,
1
$26,300
Lot
2
$26,300
Lot
3
$26,200
Lot
4
$27,300
Lot
5
$27,500
Lot
6
$27,300
Lot
7
$23,000
Lot
B
$22,800
Lot
9
$22,600
LOt
10
$21,000
- Lot
11
$27,500
Lot
12
$27,200
Lot
13
$26,700
Lot
14
$24,200
Lot
15
$23,500
- Lot
16
$17,500
Lat
17
$18,200
The above prices are shorn for informational purposes only.
Prestige Builders will apply the cost of your chosen lot in
the total cost of your austom built home. Prices may adjust
from time to time.
604 4th Avo. NE 0 Bartell, Minnesota 56377 0 612.259-0859
11
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M E A D 0 W L A W N V I L L A G E
LANDSCAPE FEATURES
Accor Clanq trzp E=_t Rbllsed
L?nd=_l_ ape P an:
Phrut
S*,,,
I.andar_ ?pe Rocl;
Glutr.0
Lain E'prinl; 1 inq SyLtem
Outdoor '�.ecuritv Lighting
STANDARD QINSTeLLCTION
FEATURES
r 6 Exterior Wal is -
R Factor of 21
Total Ceiling R Factor
of 44
Full 12 -Course Basement
200 AMP Service
Nigh Efficiency 90%+
Gas Forced Air Furnace
40 Gallon Energy
Efficient Gas Hot
Water Heater
T'yvelc Paper
w
t SPECIFIC ITEMS NOT INCLUDED
Decorating (Other than those
items in Purchase Agreement)
Water Softnur
Central Air
Television Antenna
Cables T.V.
To I ephi:)no Hoolc-up
*This list Irl not intended to cover every item that is not
inclllried. Tho 13 -.u -pone of t_hia list ie purely to help
�� ..,1 r• sr Il,n moat ltl,oly i temo to be misood or mi aur%derotoorl
I,.;cur cm DuVnr• and Sullor.
(ALL FEATURE'S ACCORDING TO PLAN)
ii•d
r
M E A D O W L A W N V I L L A G E
SARTELL. MN
STANDARD INTERIOR
FEATURES
CUzt Om Guilt Gal: Cabinets
with Formica 'Top=- (Allowance)
4 S•eAson Porch
Double Stainle=s Steel
1(i tchen Sink
Interior Liqhtinq Package
(Al Iowanr-e)
Ylhi.-Ipool Tub
Floorinq (Allowance!
Fiberglass Dathbays and
and Showers
Standard Dalhroom Accessories
De-VF'r• 'went
BAthrocm E.+haust Fans
Raised 6 Panel Oak Doors
Oak Princeton Casing and Base
IuieraY E+-Ficient Low E. Windows
iMul.roun or, Horvin)
la,glt-in Clarets
Vpjltprl Coilinul
Lrblw T.V. Ie Ice per
Lai i t
Plione Jacl• o per Unit
Fireplace
Vrvnch Doorm
Plumba4 and Wired for, Softnor
4TANDARD 9.XT9RIOR
FEATURES
Steel Siding
Aluminum Soffit and Fascia
DriGl: (According to Plan)
Peachtree Entrance
Doors
Large Two Stall Garage
Insulated Raised Steel
Panel Garage Door
Garage Door Opener with
(1) Control
Insulated 6 Panel Steel
Service Door
Asphalt Driveway
Weather Proof Exterior
Outlets (2)
Exterior Frost Free
Faucet (1)
Private Covered Entry
City Sewer and Water
Window Grids
NRA AG ENDA
5-13-92
CONSIDERATION TO AUTHORIZE BDS TO PREPARE A RESOLUTION AND
PUBLIC HEARING NOTICE FOR ACQUISITION OF THE KRUSE PROPERTY.
A. REFERENCE AND BACKGROUND.
At the last HRA meeting, I informed you of the need to hold a
public hearing for early acquisition of property and the need
to hold a public hearing for the redevelopment plan for the
redevelopment project.
As Mr. John Dean, Attorney for Holmes & Gravons, was not fully
aware that Monticello modified its Redevelopment Project Plan
and Boundaries In the late 1980'x, misinformation was given
Koropchak. Therefore, at this time a public hearing is not
necessary for the redevelopment plan for the redevelopment
project and only the public hearing for early acquisition of
property Is necessary.
The Council will hold a public hearing on June 8, 1992 and as
statutory states: The authority shall not proceed with the
acquisition unless the governing body (Council) finds by
resolution that 1) the proposed acquisition is necessary to
carry out public improvements in the area, or that the
acquisition will contribute to the elimination of blight or
deterioration within the area or that the acquisition is
necessary to relieve hardship; and 2) there Is a feasible
method for the relocation of families and individuals to be
displaced by the proposed acqusition. The TIF District would
not be established until such time project development would
begin.
Upon Mr. Schmitz preparation of construction costs, the
Peasibility of the redevelopment project must still be
analyzed.
S. ALTERNATIVE ACTIONS,
A motion authorizing BDS to prepare a resolution and
public hearing notice for the acquioition of the Kruse
Property and requesting City Council hold a public
hearing.
2. A motion denying authorization to prepare a resolution
and public hearing notice by BDS.
Page 1
HRA AGENDA
5-13-92
C. STAFF RECOMMENDATION.
If the HRA and Edward Kruse have agreed upon a purchase price
and the HRA passed a motion to purchase the property with
designated contengencies, staff recommends authorizing BDS to
begin preparation of documents.
SUPPORTING DATA.
None.
Page 2
April 30, 1992
Ms. 011ie Kompcha
City of Monticello
250 Fast Broadway
P.O. Boa 1147
Monticello, MN 55362
STATEMENT
Business Development Services, Inc.
Consulting Services—March 16, 1992 through April 14, 1992
A=Iaa-Htwti
3/19/92
LPK—Jerry Schon; 011ie; Aroplaa Pmject .75
3/20/92
LPK—Finance Stnicture for Aroplax 1.00
3/24/92
LPK—Follow-up with Modem Moldings .23
4/7/92
LPK—Meeting with Jerry Schoen, Mayor Mans, Jeff O'Neill 3.25
4/14/92
LPK—Letter of Intent; Revisions and Additions 1.512
Total Hours 6.75
Net Chargeable Hours ® 573/Hour 5506.25
TOTAL AMOUNT DUE 5506.25
CURRENT OVER 34 !?%M OVER
5506.25
TERMS: NET DUE UPON RECEIPT, 1.33% PER MONTH SERVICE CHARGE ON
PAST DUE ACCOUNTS