HRA Agenda 10-04-1995AGENDA
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Wednesday, October 4, 1995 - 7:00 p.m.
City tial
MEMBERS: Chairperson Al Larson, Vice Chairperson Brad Barger, Everette Ellison. Tom
St. Hilaire, and Roger Carlson.
EXECUTIVE DIRECTOR: 011ie Koropchak.
STAFF: Rick Wolfsteller.
GUEST: Rich Carlson, Dove Realty.
I . CALL TO ORDER.
2. CONSIDERATION TO APPROVE THE SEPTEMBER 14.1995,HRA MINUTES.
3. OLD BUSINESS:
a) Confirmation of TIF Reimbursement to Russell and Sharon Martie.
b) Consideration to review for followup the second notice mailed Jay Morrell
relating to the TI Guarantee deficiency.
C) Consideration to review for followup the September 6.1995, letter from Brad
Larson.
4. NEW BUSINESS:
a) Consideration to discuss for potential purchase the property described as Lots
1, 2, 3.4 & 5, Block 64 and N 40 R of vac River St ly S of Blk 64.
b) Consideration to review the feasibility study and recommendation as prepared
by Marls Ruff of Publicorp. Inc. relating to the West Prairie/Katzmarek and
Olson areas.
c) Consideration to review the descrepancy between the estimated TIF Penalty
and the State's TI Aid Reduction.
d) Consideration to amend the City of Monticello TIF Policies for addition of
the proposed nineth criteria.
s. CONSIDERATION TO REVIEW [IRA BILIS FOR APPROVAL:
e) Acknowledgement of Letter of Adjustment.
b) Authorize payment of Vector Tool Bills for reimbursement.
c) Authorize payment of other bills.
b. OTHER BUSINESS.
7. ADJOURNMENT.
o*-
SPECIAL MEETING - MONTICELLO CITY COUNCIL
IVA
Wednesday, September 27,1995 - 7 p.m -
Council Members Present: Brad Fyle, Shirley Anderson, Brian Stumpf, Tom
Perrault
Council Members Absent: Clint Herbst
Others Present: Al Larson, HRA Chair, Ken Maus, IDC Vice Chair, Kevin Doty,
IDC Chair; Ron Hoglund, EDA Chair, Steve Bubul, HRA
Attorney
Staff Present Rick Wolfsteller, City Administrator, 011ie Koropchak, Economic
Development Director, Jeff O'Neill, Assistant Administrator
A special meeting of the City Council was held for the purpose of discussing the
possibility of consolidating the Housing and Redevelopment Authority (HRA) and
the Economic Development Authority (EDA), and for the purpose of defining the
role of the Industrial Development Committee (IDC) as it relates to the City's
governing bodies.
IDC Chair Kevin Doty explained that the IDC is a marketing group for Monticello
and has received comments regarding the redundancy of presenting information to
so many committees during the process of relocating an industry to Monticello. It
was proposed by the IDC that by combining the HRA and EDA, prospective
businesses and industries would be better served by eliminating a repetitive step in
the process.
Economic Development Director 011ie Koropehak reviewed the history of the
establishment of the HRA in 1971 and the EDA in 1989. Assistant Administrator
O'Neill reviewed structure options, noting that combining the HRA and EDA would
result in a more efficient link between the City Council and economic development
programs, coordination of finance packaging, and policy-making. .
HRA Attorney Stove BubW then presented information regarding the general
powers of the HRA and EDA as established by >,,t;, eAa n S n , sA. He noted that
the EDA may exercise the powers of an HRA and the powers of a city in addition to
the powers of the EDA as establiaLed by the Statutes. The HRA may levy a tax on
all taxable property in the city subject to consent of the City Council. Similarly, at
the request of the EDA, the City may levy for the benefit of the EDA.
Page 1
Special Council Minutes - 9/27/95
Bubul also reviewed the composition of each board, noting that an HRA consists of
five commissioners appointed by the Mayor and approved by the City Council, and
any number of Council members may be appointed as commissioners. In some
communities, the HRA is made up entirely of Council members. State Statutes also
require that HRA commissioners be residents of the city. The EDA. however, has
three options for board composition. A three-member EDA must include one
Council member, a five -member or seven -member EDA must include two Council
members. In some communities, the entire City Council serves also as the EDA
Unlike the HRA, the Statutes do not contain a residency requirement for EDA
commissioners.
IDC Vice Chair Ken Maus noted his concern that if the IiRA is eliminated, the
focus on housing will fade. He suggested that two subcommittees of the EDA be
formed, one to concentrate on business and industry and the other for housing.
Since the IDC's strength is marketing business and industry, perhaps the IDC
could be appointed as a subcommittee of the EDA.
Discussion focused on the current operation of the IDC. It was noted by Steve
Bubul that if the IDC became an appointed subcommittee of the EDA, they would
be subject to open meeting laws, and any fiend -raising proceeds would essentially
become part of the EDA hinds and, as public funds, would likely have more
restrictions. He noted it may be beneficial to have three IDC members appointed as
a subcommittee to the EDA and continue to maintain the IDC as a separate
organization.
EDA Chair Ron Hoglund explained that when the IDC was created in the early
1980'x, it was an entity of the Chamber of Commerce. Over the years they have
drifted apart, but Hoglund suggested that if the IDC returned to being a part of the
Chamber, the IDC/Chamber could raise and donate fiords to the EDA for specific
economic development purposes and/or retain the funds for independent marketing
efforts or other economic development purposes. This would eliminate the public
fitads restrictions but would continue to benefit the community.
HRA Chair Al Larson suggested that the EDA be allowed to have non-resident
members if the EDA and HRA are combined so that specific well -Qualified
individuals can be appointed even if they do not live in the city. It was also
suggested that rather than a residency requirement, perhaps it would be sufficient
to require that members have a vested interest in the community such as owning
property within the dty limits. The number of non-residents on the EDA could be
limited to a specific number as well.
Page 2
Spacial Council Minutes - 9/27/95
Mayor Fyfe expressed his support, and it was the consensus of Council to continue
investigating the consolidation of the EDA and HRA. It was suggested that the
EDA, HILA, and IDC discuss this item, and staff was directed to outline the basic
program for reorganization and submit it to the affected committees for oommenta
print to placement on a &tore Council sgenda, possrfl9 in January 1998.
According to the Statutes, a public hearing would be necessary to allow public
comments prior to consolidating the HRA and EDA into an EDA.
There being no f3rrther discussion. the meeting was adjourned.
Gama Doty
0®oe Manager
L
N
Page 3
That in any year in which the tax increment generated by the
development does not meet or exceed the amount required by the
NRA to meet its debt retirement demands, the developers shnll
pay directly to the HRA the difference between the actual tax
increment collected, and the required debt retirement payment,
said payment to be made no later than the 15th day of December
in the year in which the taxes are due and payable.
5. That they shall purchase from the HRA the following described
real property, to -wit:
The Northeasterly Fifty feet of Lots Eight, Nine, and Ten, in Block
Fifty of the Village of Monticello, according to the plat thereof on
file and of record in the Office of the Register of Deeds in and for
said County.
on or before the 16th day of November, 1983, and they shall remit
payment in the sum o$ $10,000.00 to the HRA un Liie date of purchase.
6. That no "project land" acquired by the developers from Lite IIRA
may be resold prior to improvements being made without the prior
written consent of the HRA.
7. That there shall be no discrimination on the basis of race, color,
sex, creed or national origin in the sale, lease, transfer or
occupancy of the property covered by this agreement.
8. That the property shall be devoted only to the uses that fall within
the scope of the Central Monticello Redevelopment Plan for a period
of twenty (20) years from the date of this agreement.
9. That, except where physically impossible, all public and private
utilities serving the parcels within this agreement shall be under-
ground.
10. Developers agree to filo of record a twenty (20) foot wide easement.
for purposes of ingress and egress in favor of the City of aionticello
to be approved by the City Attorney.
THE 11RA AGREES:
1. That the HRA will convey to the Developer title to the following
described real property, to -wit:
The Northeasterly Fifty foot of lots Eight, Nine, and Ten, in Block
Fifty of the Village of Monticello, according to the plat thereof on file
and of record in Cho Office of the Register of Deeds in and for said Ccnutty.
on or before the 16th day of November, 1983, for the sum of $10,000.00.
2. That, prior to the conveyance of title to the developers, Cho IIRA
will demolish existing structures and generally prepare the site
for now construction.
'`
-2-
City of Monticello
250 East Broadway
P. O. Box 1147
Monticello, Minnesota 55362-9245
ATTENTION: 011ie
Dear 011ie:
Thank you for your fax of today attaching the 1983
Development Agreement between Jim and I and the City. we had not
been able to find an executed copy.
with regard to paragraph 10 wherein we agreed to file a
twenty foot (20') wide easement in favor of the City of Monticello
to be approved by the City Attorney, as I recall, that was never
done. I am willing to file a formal easement in favor of the City
which I assume would be assigned to the post office landlord but I
think it appropriate a Maintenance Agreement be entered into or,
since it is going to be a public easement, that the maintenance be
borne by the City.
If the City is not interested in entering into a Maintenance
Agreement or maintaining the easement, maybe it is appropriate at
this point in time to look at opening up the "Hass" lot access.
Thanks!
HVL/gls
cc: David Hyttsten
Respectfully yours,
METCALF�LARSON 6 MUTH
//.
By:
Bradley V. Larson, Esq.
SS•0;k.
(ill
La1Fe� \
d:' f.jf Y.On & effud
ATTORNEYS Al LAW
313 WW Brnadw Y
Pa am WE
MaaMq Mlnrmu 9 O
BRADLEY V. LARSON
TELEPHONE
�o
September 6. 1995
(612)FAAX
0. METCALF. noar�u
(W5 -TM
(61Z 2WM32
City of Monticello
250 East Broadway
P. O. Box 1147
Monticello, Minnesota 55362-9245
ATTENTION: 011ie
Dear 011ie:
Thank you for your fax of today attaching the 1983
Development Agreement between Jim and I and the City. we had not
been able to find an executed copy.
with regard to paragraph 10 wherein we agreed to file a
twenty foot (20') wide easement in favor of the City of Monticello
to be approved by the City Attorney, as I recall, that was never
done. I am willing to file a formal easement in favor of the City
which I assume would be assigned to the post office landlord but I
think it appropriate a Maintenance Agreement be entered into or,
since it is going to be a public easement, that the maintenance be
borne by the City.
If the City is not interested in entering into a Maintenance
Agreement or maintaining the easement, maybe it is appropriate at
this point in time to look at opening up the "Hass" lot access.
Thanks!
HVL/gls
cc: David Hyttsten
Respectfully yours,
METCALF�LARSON 6 MUTH
//.
By:
Bradley V. Larson, Esq.
SS•0;k.
(ill
La1Fe� \
TSR FXZLD C=W" !
STATEMENT
420 •ortb=vt 218th 1►t'G
tober 26.
cdar,Kian*mots 55011
ROCT17C-CARIHON
Me. Olive Roropchak
VOICEi (612) 295-2711
City of Monticello
PAX (612) 295-4404
250 Eaat Broadway
P.O. Bo= 1147
Monticollo, Pm
55]62-9245
250.00
OAIf C► AQES AND CNEOMS,
OALAI-ca
GALMISM vonwu+o
10/17/1,5 CARLSON APPRAISAL
250.010 230.00
R. A. FIELD 6 ASSOCIATES . F" Tftb
Monticello 69K N e
PO Box 1147
Monticello MN 55362-9245
October 6, 1995
MC100.03 REDEVELOPMENT DISTRICT
9118/95 MTR Meeting at Coy and tour of redevelopment sites
9/27/95 MTR Work on analysis for redevelopment districts
Total Due Tfds Month:
Total Balance Due:
Hours Amount
1.75 183.75
3.00 315.00
4.75 $498.75
$498.75
EHLERS AND ASSOCIATES, INC.IPUBLICORP INC.
2950 NORWEST CENTER
90 SOUTH SEVENTH STREET
MINNEAPOLIS, MN $5402
Space is limited, To receive the lowest
registration tate, forms must be
returnea by November 10, 1995.
Please compiere Wtv one form for each
person rogwennpsorra mov be Dnotocoprea.
NAME
TITLE
AGENCY
ADDRESS
CITY, STATE. ZIP
TELEPHONE
Please cycle amoorore tee.
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Af101 NDvornbor 10 $10500
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Rogotatlon auo6f
Gas (612)•423-0145
Rotwn to
MINNESOTA NAHRO
2406 145th stroof Wan
Rosomount. MN S5W
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rt, COMMUNITY
o�a DEVELOPMENT
g ° CONFERENCE
2 A CONFERENCE FOR
COMMUNITY DEVELOPMENT,
Jai AND HOUSING
g PROFESSIONALS, ELECTED AND
APPOINTED OFFICIALS
T
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NOVEMBER 30. 1995
6:00 A.M. TO 3:00 P.M.
SHERATON
MINNEAPOLIS METRODOME
I M'NDUSTRIAL BOULEVARD
M'.NNEAPOUS
A :fir n1 r± I� IIII� �a
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MINNESOTA
NAHRO'S
ANNUAL
C O M M U N I T Y
D E V E L OPMENT
C O NF ERE N CE
November 30, 1995
8:00 a.m. to 3:00 p.m.
Sheraton Mlnneopolls•Metrodome
1330 industrial Boulevard. Minneapolis
0
Community Development Staff
HRA Staff
EDA Staff
State AgomV Staff
Community Development Corporations
Elected and Appointed Officials
Commisslonors
Municipal Finance Officials
Q
6
Momma Basions
introduction to tax increment
M"an�0u01bn oll I.-.InaMrll hloncng n
nnrow Cowing n. awn of no. d .onA
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thapples and vbrutlrq
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valrnq crop_ or wcc~w corrol.nerwre
IaoOr.bpn10n1
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FlnorWhW If N WA
tri Henson .0 comlao n.
lulu,. or 11r dna he
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011.10 COmmumlY
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M.'alna 1995 0ac0 I.
1.9.00 n ar poeuole
pubpnc. br 1995
4a41es, Refonsk
and Bttparobn
Map — ICM .0 I.t.0
nom elawnade.1 eualp
ourl.rr the canon .i
eramin. h0. total
IurnOlClbm con aeraop
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maria UDarel me
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aeuoablaa tn.Ior or err dor dna idem povdrlr.w+onbca wens dna conlol«co oamcoonn.o
renal ro me olaw,lalbra
SEIZVING MINNESOTA'S
HOUSING 3: COMMUNITY
DEVELOPMENT NEEDS
FOR OVER 36YEARS
The Wnesoto Chapter Of the Notional
Afloccnon of HOu3 ng Cna Redevelop•
mens Otficia3 tso non-profit rnemCerjup
�SOaWlon of hou5V1g and Community
development professionals. There are
over 135 pubk ogenctes in the Chapter
representing local. county. nVtitountV
Ono state -Mede iureoiCtlons. There are
over 350 IndMdual members. and over
50 non-profit ono for-profit orgammliorn
in the Chapter.
tv Gsoto NAMRO'S Purpose is 10 erWe
me Provmon of aocont. 0ffaooble hous-
ing ono KCoo commuNtles for al Min-
nesotons through the association Of
agencies and 1na\nduas Pro%Aoing out)• i
tlCv offiwea nous:ng and cornmunty, de-
velopment rosource3.
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MRA Revenues
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Enorlcnp oro mese
general kilsbp
Tax licief wed
FlnorWhW If N WA
tri Henson .0 comlao n.
lulu,. or 11r dna he
Rnecpt— of recant nwW
011.10 COmmumlY
..010pmant I.pntalnn.
M.'alna 1995 0ac0 I.
1.9.00 n ar poeuole
pubpnc. br 1995
4a41es, Refonsk
and Bttparobn
Map — ICM .0 I.t.0
nom elawnade.1 eualp
ourl.rr the canon .i
eramin. h0. total
IurnOlClbm con aeraop
rY51.mo11C aOprOOCn 10
oro molwp Durin.rl
I.lontlen, fop a.arbn dhe
maria UDarel me
Inca puvleo Cprrro"11 A/My
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Cor.A+nIM1 de ddP nhr Aml.p Ine cal_ To DO -
r yMe .rb .a wY UO 1M .1. wn n
bib ur COn1101
the N o or. tT n ahcnp load m ral _,~11 br NDiaM ana ponau I W�
aeuoablaa tn.Ior or err dor dna idem povdrlr.w+onbca wens dna conlol«co oamcoonn.o
renal ro me olaw,lalbra
SEIZVING MINNESOTA'S
HOUSING 3: COMMUNITY
DEVELOPMENT NEEDS
FOR OVER 36YEARS
The Wnesoto Chapter Of the Notional
Afloccnon of HOu3 ng Cna Redevelop•
mens Otficia3 tso non-profit rnemCerjup
�SOaWlon of hou5V1g and Community
development professionals. There are
over 135 pubk ogenctes in the Chapter
representing local. county. nVtitountV
Ono state -Mede iureoiCtlons. There are
over 350 IndMdual members. and over
50 non-profit ono for-profit orgammliorn
in the Chapter.
tv Gsoto NAMRO'S Purpose is 10 erWe
me Provmon of aocont. 0ffaooble hous-
ing ono KCoo commuNtles for al Min-
nesotons through the association Of
agencies and 1na\nduas Pro%Aoing out)• i
tlCv offiwea nous:ng and cornmunty, de-
velopment rosource3.
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0 el/P- X,GL to 32
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-
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[rooms,, inl 4 I.vant"M
Comm P. re a• 100
Cmm nr alar 100
caern Pr of re Oyer
Cram Mar, -oral el
Intl P, alar 100
ImJ Prefer 200
IM Ri elrr Oyer
IW VOnPret er
NM, Nnea, tI n Rt.eM•htta,
NMrXntd 1,7 or S
li-,td AP: 4 a .ore
G oy't Mar. L
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r i g I,M"M 4 Sec e
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w -C-
eas/RetNon-Comm SRR 72
Non -Loan SRR Oyer
CSRRCLIC 32
CSRR [LIC Oyer
CSRR CtiC "
Uther
total Rent Est nta
total Per gor9rt nr oparey
rate) ReOI l Pers M Property
less aovef L- 2001,,,
I tgL ler IrN rrmmt
,.,at Net tDr Cep- ty
Percentage of totat
C+ty ar Mont t(el{O
I.. Capacity Tar Capacity
1,236,101
it % of total 864
7.53452% 848,203
537,028
49,706
25,104
tc t of total 0
0.15312% 1,96S
524
0
0
756
0
589
0
5,011
0
18,253
0
12,145,100
tc % of total
74.07637%
18.11
tc % a} total
0.12087%
2,059,416
it % of total
12.56130%
733,41'
is % of tote)
4.47339%
0
89,295
12,055,813
0
19,817
381,117
303,424
657,023
175,762
51,123
69,667
$94,638
26,064
148,473
]01,402
0
22,48)
18,250
117, 416
21,782
1,040
tc % of total 0
0.00634% 0
0
0
1,040
0 Market VDIue9
t6,27o,948 448,234000
174,948 3,810000
16,394,946 452,045,800
0
0
16,394 046
30.3692% 15.22112
a.et ',,rata
aryl denSlol "taMstMM1
61/vrr• •-Ap
Mon••p "std 12
Mm-ap Mottl 115
N on•Ap "aid Over
A/rlc4itu1a1
et/Parr ",GLIA 32
111 "std M, GLIA 72
Ap Xatd x, GIL IA 115
14, Mold X,CLIA Over
pal/vera artm In 32
Aq nstd •-S20 72
Haiti 11.0- 11.0 er 72
Ag M•td Rea,320 115
AlXstd RaaOver 115
49 "old 0-320 Over
Ap xstd RerN hear Over
Al *--:old
t I*-, rd,
,-rcial L frelun trtet
PLibl" Utility
lord L 91do l
Lard L 61 dp X
is -h i nor y
astir odd Property
0 o+troact
anilroad
C-,c+ni L Ind-TH.1
Comm Prei tr 1170
Cann nref ar 200
crag Prater Ovar
Caro Non -Prefer
1rd Prater 100
ird vraf er 700
Ind Prafer Ova,
Ino RM+-Pra}Or
mon-Norrnstand Rasid-00
MOn-Nato 1,2 or 3
Mon
-Mata Apt 4 or srl+e
Gov't ii. L
GOy' t A-, N
iMNA,tNMA
Iiit is L Sec 8
,MH
MOCiir M- Port Land
[amllarcial L Rea Seas/sec
Nun -Ca... :RR 72
Man -Coon Sao Over
CSRR CLIC 32
CSR: CILC Over
CSaa CLIC M
Other
TotDt seat Estate
roC•1 persono1 Pr opt rty
rota) Reel L Personal Pr9ptrty
Less Poser Tint 2001,v
less Iea Inc,ement
1 OCDl Met Tar Cappc+ty
P-CM1a9e of Total
Wright Elm.efty
lar CamcIty
lar Capacity
19,450,011
tc t of tot Mi7,948
34,13208%
11,663,104
2,494
5,999,241
3,944
,,779,168
4, 420, B9
0 Market Values
tc % of rota,
t,14I
8.63549%
1,861,360
56,934,551 2,964,865,950
630,907
20,366
269,954
2,Y18:693
1017,
53,985,492
66,
100.0000%
0
145,968
0
335,451
124,602
0736,160
0
14 ,D05,0!S
I< % of total
7,617
26.'5627%
262,703
14,634,713
67,162
tc % o} tot at
0.29338%
8,549,967
it % of total
15.00404%
4.555.574
Ic % of total
t.o9431%
0
161,182
2,418,327
1,408,725
2,187,003
8A1,030
244,962
275,747
1,075,862 862
90, 281
2,431,618
t, 275,3T2
0
95,036
246,734
321,086
166,228
2 911
,115,
K+. !at sl
85.13457%
7,356,344
Sig 904
2,494
3,944
44,125
0 Market Values
55,474,541 2,936,831,350
1,510,010
33,034,600
56,934,551 2,964,865,950
20,366
2,Y18:693
53,985,492
100.0000%
300.0000;
J
MINUTES
MON710ELLO HOUSING AND REDEVELOPMENT AUTHORITY
SPECIAL MEETING
Thursday. September 14, 1995 - 7:00 p.m.
City Hall
MEMBERS PRESENT: Chairperson AI Larson, Everette Ellison, and Roger Carlson.
MEMBERS ABSENT: Vice Chairperson Brad Barger and Tom St. Hilaire.
EXECUTIVE DIRECTOR: 011ie Koropchak.
CITY STAFF ABSENT: Rick Wolfsteller and Jeff O'Neill.
Chairperson Larson called the HRA meeting to order at 7:00 p.m.
Roger Carlson made a motion to approve the September 6,1995. HRA minutes. Al
Larson seconded the motion and with no corrections or additions, the minutes were
approved as written.
•: • k1l pKiKO&I 10141•• • WE Nal
• r••• rr• 1. :at•
In the absence of Commissioner Brad Barger, compliance of the Declaration of
Potential Conflict of Interest was not an issue.
Chairperwn Larson continued the public hearing of September 6. 1995. Koropchak
informed HRA members that HRA Attorney Bubul reviewed comment; made by
Dana Strandmo, the developer's attorney. Appropriate modifications in the best
interest of the HRA and as so directed by the HRA were made to the Purchase and
Development Contract. The developers have agreed to the modifications and a copy
of the contract for execution is forthcoming. Therefore as of September 14, 1995.
the Purchase and Development Contract between the HRA and VTM has been
agreed upon by all panties.
Chairperson Larson closed the public hearing. Having heard no public comment or
objection, Roger Carlson made a motion to adopt HRA Resolution No. 95-7
Page I
HRA MINUTES
SPECIAL MEETING
SEPTEMBER 14, 1995
authorizing the acquisition and disposition of raw lands described as Lot 5, Block 3,
OIP. Everette Ellison seconded the motion and with no further discussion, the
motion passed unanimously.
This being a normal practice for Private Redevelopment Contracts, Everette Ellison
made a motion authorizing execution of the Subordination Agreement between the
HRA and the lending institution therebye subordinating the rights of the HRA to the
lender. This in relationship to the VTM project. Roger Carlson seconded the
motion and with no further discussion, the motion passed unanimously.
�4 JV—.OVIN*-1
HRA commissioners received a copy of the letter dated September 6, 1995, from
Brad Larson relating to the 20 foot wide easement. Commissioners requested the
letter be placed on the October 4. 1995, HRA agenda for review and discussion.
In order to improve communication between the HRA and City Council, the
commissioners requested the Executive Director submit approved HRA minutes to
Councilmembers.
Everette Ellison made a motion to adjourn the HRA special meeting. Al Larson
seconded the motion and with no further business, the HRA meeting adjourned at
7:15 P.M.
011ie Koropchak, Executive Director
Page 2
i
CITY OF MONTICELLO
GENERAL FUND
250 EAST BROADWAY
MONTICELLO. LIN M352
-,9 ?g!
;EVEN THOUSAND FIVE HUNDRED AND OC/100 DOLLAP.S
_ro nu
�ro
No.
Waoinm rartuuo
Po W 50i TIY
YpaTCELLO 111 65]6t
ZO
913105SLQ. 00
PAY TO RUSSELL .KARTIE SHARSON MARTIZ
TME
ORDER
OF
00492531P 4091,91&5225: ?60 001, ?02
:NDOR 000969 RUSSELL&MARTIE SHARSON NARTIE 09/12/1995 CHECK 391di
L3.46511.6511 TIF 011 REIMB/MARTIES F 7,500.00
In
CITY OF MONTICELLO
TOTAL
7,500.00,
HRA AGENDA
OCTOBER 4, 1995
. i .� , yr•.i� . i iii � ��. ..�u,� � � . �� � nyllii` ue�i
Attached is a copy of the letter dated September 12, 1995, to Jay Morrell relating
to the 71 Guarantee deficiency of $12,517.93 for decertified TIF District Nos. 1-1
and 14. This is the second letter written by Mr. Wolfsteller and as of today, the
City or HRA has heard no response. Attorney Bubul is reviewing the original
Redevelopment Contract between the HRA and Ron & Dee Johnson and the
condensed agreement between the HRA and Plaistad. Contract provisions relating
default and property transfer are of importance. Within the condensed agreement
no provision defines that the redeveloper is responsible for HRA legal fees if the
redeveloper defaults. Secondly, how does this apply to the transfer of the property
between the Johnsons to Plaistad to Morrell? Answer to this and other questions
will assist the HRA's decision of whether to declare a default.
Mr. Bubul will submit comments.
C-1'
C Page I
I
MONTIMLO
Otfice .,j the Cit., Adm m taws
250 East Broadway
Monticello, MN 55361.9145
Phone: (612) 295.2711
Metro: (612) 333.5739
Mr. Jay Morrell
M k P Transport
1401 Fallon Avenue, PO Bon 477
Monticello, MN 56382
September 12, 1995
Re: HRA assessment agreements for Lot 7, Block 3, Oakwood Industrial Park
Dear Jay:
This letter is Intended as a follow-up to my May 5 letter which had summarized the tax collections
Brom TIP Districts 01 and 04 and noted the balance remaining of $12,517.93. In case you are unable
to locate your copy, I am enclosing a copy of my May 6 letter and the summary of TIF revenue along
with a copy of the assessment agreement that pertains to the property you now own.
Since the HRA had not received any response regarding this request for payment, this item was
placed on their agenda for additional consideration Wednesday, September 6. After reviewing the
assessment agreement that allowed the valuation to be reduced on your property, they reaffirmed
their original position that the agreement was beneficial to your property in allowing the taxes to be
reduced; and as such, the agreement should be adhered to regarding your requirement to reimburse
any deficiencies below the annual $28,000 amount.
As a result of their action, enclosed you will find a statement for the $12,517.93 deficiency that the
HRA would like you to remit per the assessment agreemenL If you have any questions regarding
the HRAs action, please give me a call, or you may contact OIUe Koropchak, HRA Director.
Sincerely.
a
�
City Administrator
RW/kd
Enclosures
cc: Al Laron, HRA Chairmen
DU TIF District N File
HRA AGENDA
OCTOBER 4, 1995
1 i 1 in morwrinmrinvuof 1m zvmm ,,; wis mms •1 y = \I 11
�1l�ll � 1 • � '1l� �
In order to encourage the two property owners to resolve the issue of maintaining
the driveway access to Locust or to encourage Cinco Corporation to contact the City
of Monticello for consideration to purchase the old Hass propoerty, the HRA
recommended Metcalf & Larson address a letter to Cines Corporation giving a 30 -
day notice to close the driveway.
On September 6, 1995, the HRA faxed Brad Larson a copy of the Development
Agreement between the HRA and Metcalf and Larson wherein the developers
agreed to file of record a twenty foot wide easement for the purposes of ingress and
egress in favor of the City of Monticello to be approved by the City Attorney. In
order to allow time for Brad Larson to respond to the HRA fax, the commissioners
passed a motion of a "wait and see approach".
The attached letter (Letter ill) from Brad Larson is a response to the fax. To
improve communications and upon HRA Chairperson approval, the Executive
Director submitted the copy of the Development Agreement to Cinco Corporation.
See attached Letter 02.
This is a fellowup agenda item for informational purposes and the HRA may wish
to continue the "wait and see approach" since little time has lapsed from the date of
the two attached wucrs.
C Page I
BRADLEY V. LARSON
STEVEN 1 MUTH
,MMES D. METCALF. os cmpmL
mmu"
City of Monticello
250 East Broadway
P. 0. Box 1147
Monticello, Minnesota
ATTENTION: 011ie
Dear 011ie:
At"4, lnaun & Aud
ATFORNEYS AT LAW
313 wa amod+.Y
P.a am 448
Uaeoro. MV.8@ a SM44"
September 6. 1995
55362-9245
TELEPHONE
(812) 2953232
FAX
f�21 2953132
Thank you for your fax of today attaching the 1983
Development Agreement between Jim and I and the City. We had not
been able to find an executed copy.
With regard to paragraph 10 wherein we agreed to file a
twenty foot (20') wide easement in favor of the City of Monticello
to be approved by the City Attorney, as I recall, that was never
done. I am willing to file a formal easement in favor of the City
which I assume would be assigned to the post office landlord but I
think it appropriate a Maintenance Agreement be entered into or,
since it is going to be a public easement, that the maintenance be
borne by the City.
If the City is not interested in entering into a Maintenance
Agreement or maintaining the easement, maybe it is appropriate at
this point in time to look at opening up the "Hass" lot access.
Thankst
BVL/gls
cc: David Hyttsten
Respectfully yours,
METCALF, LARSON & MUTH
By: Al
Bradley V. Larson, Esq.
L, et e �- \
250 East Broadway
P. O. Box 1147
Monticello, MN
55362-9245
Phone: (612) 295.2711
Metro: (612) 333-5739
Fax: (611) 295.4404
Cinco Corporation
P.O. Box 185
St. Cloud, MN 56302-1185
Gentlemen:
September 27, 1995
Enclosed is a copy of the Development Agreement between the Monticello Housing and
Redevelopment Authority (HRA) and Bradley V. Larson and James G. Metcalf. As noted
the developers agreed to file of record a twenty (20) foot wide easement for purposes of
ingress and egress in favor or the City of Monticello to be approved by the City Attorney.
There is no mention of the HRA agreeing to enter into a Maintenance Agreement relating
to 20 foot wide easement. As property owners, you may wish to consider participation in
the cost for maintaining the easement or driveway to appease your tenant, the United States
Post Office.
Also enclosed are copies of letters from Bradley V. Larson dated April 25, 1995, and
September 6, 1995.
Sincerely,
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITYOFMONTICELLO
011ie Koropchak
Executive Director " b C.
\J
cc: United States Post Office, Postmaster
Bradley V. Larson, Attorney at Law
HRA rile
HRA AGENDA
OCTOBER 4, 1995
L..
x..71 - \ 1 1 '�
Mr. Rich Carlson, Real Estate Agent, will brief the HRA of his conversations with
the willing sellers (owner occupied).
This property located along Front Street and with Mississippi River frontage was an
area previously earmarked for future redevelopment by the HRA. Listed is
information from the Tax Book Payable 1995.
PID# 155-010-064010
EMV $126,700
LMT $1113,700
Special Assessments 1995 $365.811
1
Remaining Balance of Assessments $1,111.98 - 4 years, 77-3 Street Impr.
HRA procedure to purchase:
I. Appraisal recommended.
2. Purchase Agreement prepared by HRA Attorney.
3. Relocation Costs. Willing sellers are entitled to relocation costs, must agree
to waive.
4. Consideration of demolition costs.
5. Revenue for purchase and demolition: Availablc TIF Surplus Funds.
6. Adopt resolution prior to demolition: Establish three year window which
allows the demolished structure to qualify within the test for establishment
of a redevelopment district.
Attached is a map outlining the lots under discussion.
C Page I
I�k
A
HRA AGENDA
OCTOBER 4, 1995
a.7 , 4t: • 1 tti/ i \ 7l ��.1�, l4 n 71 yi Irl! , l , :� _,
:..�'.. ,r.VI
A. Reference and Background:
See attached information prelAred by Mart Ruff of Publicorp, Inc. As noted
through the TI cash flow, one is reminded of the difficulty to do redevelopment
projects particularly with construction of single homes. Mark Ruff recommends the
HRA consider that Olson property for refcvelopment with the possibility of
construction of a twinhome or simple mbdivitio i. This would increase the captured
TI. One, must remember that redevelopmad projects typcially also increase the
value of the surrounding properties.
The Katzmarct area also has potential for redevelopment. Again, the project area
would generate a gmater TI if rental property with a greater density were permitted.
Again, the first step would be to obtain an appraisal of the property for purchase.
tl
C Page I
SEP 27 '95 06:15PM EHLERS & FSSOCIRTES P. 2/e
rEbkn Wd
laAetRa IB PUBLIC FINANCE
September 27,1995
TO: 011ie Koropchak. City of Monticello
FR: Mark Ruff
RE: Redevelopment Analysis
Attached are a number of documents related to our evaluation of two areas within the City of
Monticello for potential redevelopment tax increment sins.
The testa in the tax inceatent statute for qualification of a redevelopment district are as follows:
Parcels consisting of 70% of the area of the district must be occupied To be considered
occupied, at least 15% of the parcel must be covered by improvement; such as buildings,
pwiring lots. roads, easements. etc.
More than 50% of the buildings in the district must be considered structurally
substandard.
Although the law is specific about the conditions of a building which is technically considered
structurally substandard or "blighted", many of the buildings which meet the substandard test
would not be considered blighted. Therefore, determining blight is a policy decision for the
HRA and City Council.
The first area under consideration for a redevelopment district is the property (mown as the Olson
parcel on the 500 block of East Broadway. The structure on the parcel is a single faauily
dwelling which was constructed over 100 years ago and is clearly structurally substandard. The
building and Improvements minimally meet the 15% coverage test. Attached is a tax increment
projection titled "Redevelopment District for Single Family Demolition" which outlines the
amount of tax increment which could be captured if a S 110 a were built on the site. On
a present value basis at 8.5%, the maximum return over 25 years could be $9000. If a 5150.000
house were constnuteM maximum return could be16 000. A few dues around the stoma �e
have implemented a program in which merry homes ser see Olson property are acquired,
demolished, and the lot sold for a new single family structure. The prog<am works well if the
site, rue scattered around the .;Pty to LWIuve is variety of nCigllbvr6xA- arid, bet:ausc of
economies of scale. if more than one house is purchased and dtmtolished in a year. Alsoattached
Is a sample cash flow Itom the City of Richfield on the costs of purchasing sad revenues from
selling these types of properties.
The second area under considcration4or a redevelopment district is the area adjacent to the golf
course and railroad tracks on the= aide of the City. Included on the site am twelve pareels.of
property. seven of which sue parcels from the former townhome site which are curtest!%%y, being \
OFFICE8 r1 111410IMEAPOLIS, MN UID SAOOKFMLD, Vn
2950 NorwH1 C4rMtar. . 90 SOLO SMr4h SOMI . MlftnUPO L Mut 65400.4100
♦.+.-. A11.1\OASO.. Rev •1 •...a.Ml.
SEP V 'Y 06:15PM DtERS & ASSOCIATES P."
teplattcd. The parcels at listed in the attachmeat tided "Qualifying a Redevelopment District"
Foto of the five building: on the proposed site we clearly substandard due to age and condition
of the property. the exception of which is the swxture used as a day cars on the Hanawan parcel.
However, it is difficult to meet the 70% coverage test. The State of Minnesota peroels am
cur=tly vacant, but recently did contain some :mucases and underground tanks. The only way
to qualify the site for a redevelopment district is if the HRA legal counsel will allow us to count
the State of Nfinnesota parcels as "improvar due to the activity which ocoured to clean up the
site. The qualifications for the redevelopment district are listed as Option 2 and do not include
the townhome parcels included in the district. Tax incrcmew calculations based upon new
construction of 14 twin hoaues built valued at S100,000 a piece plus the land value on
apptoximately� saes (sot including the KatwAric site) over the next five years
indicate that s valuer of S 111 000 over 1 S ' of increment and S 14S,Qp0 of increment
dollars over 23 years would be av for lai> uiaegaisition. demolition, Pak Improvements,
etc. in the rMelopment district
The seven esdsdog townhome parcels total 2.4 acrd, but the only improvement is the cul-de-sac
and toad on the properties. As shown as Option 1. if we wanted to include this area in the
redevelopment district, we would need to wait until one new structtaa was built on the site. We
would thea be able to meet the 70% tat Inch then parcels in the new redevelopment
dlsteiict would aseadal1y double the amount of tax increment available to the project to �0 000
for 13 years and S290, � 2S years.
Please contact the with any questions or comments or if we need to discuss this further with the
`y HRA legal counsel.
SEP 27 '95 06:16PM E}LERS 8 ASSOCIATES
OW7195 M.M800HRA RedevMoprieM OMrit for yrrab Femlr Oemro40on
T.I.F. CASH FLOW ASSUMPTIONS
Total
Inflation Rate:
0.0000%
Interest Rata:
9.500%
Tax Extension Rate:
1.128730 Pay 95
FLual Disparities Rate'.
0.00%
BASE VALUE INFORMATION
vakre
Homestead
Pay 96 Pay 96 Tax
1,156
vawe Cauchy
Parcel 8155-015403OW
45,400 454
Total ortg" Markel vow _ _ _
4-1400_._ 4p
Class Rate: Hanastead > 172.000
7.0000% Pay 96
Homestead <$72,000
1.0000% Pay 96
Original Tax Cawdy:
454 Pay 96
PROJECT VALUE INFORMATION
Type of Tex IrwrmmY DI&L-4: Redwaloprnert
Type Of Derelowent: Homostad
MC 100-01 I+ep..d by irapsp akrnrp kr.
P.4/8
payable
1998
Pape 1
(-�I , h)
OIEI
Mnwl
Total
Type of
Total
Tax
Tax
Market
Use
Tax"
Increment
CaOanty
vakre
Homestead
1,971
1,156
1,480
110,000
0
0
0
0
0
0
0
9
1.671
1,156
11450
110.000
MC 100-01 I+ep..d by irapsp akrnrp kr.
P.4/8
payable
1998
Pape 1
(-�I , h)
OIEI
SEP 27 '95 06:16PM EI-LERS 8 RSSOCIRTES
M7/95 MorWc.no MRA Redewlcp Mru 01stna Id Sp. F." Da Wbl
Othor
Reremle
S.m4Annw1
Net Tax
_Invamtont
0
0
0
0
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
621
521
521
$21
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
$21
521
521
521
621
521
521
621
521
521
29MY
9.056
NPV
Tax Invamsm
8.50%
0
O
0
0
423
829
1.219
1,592
1.950
2.294
2.624
2,940
3.243
3.534
3,814
4,081
4.338
4.585
4,821
5.046
5,265
5.474
5.674
5.866
6,050
6.2,26
6.396
6.556
6.714
6,864
7,007
7.145
7.276
7.403
7,524
7,641
7.753
1,860
1,963
6,061
8.156
0.247
6,334
6,417
6.497
6,574
6,648
6.716
6.786
6,651
6.914
8.973
9,031
9.088
P.5/8
PQ. 2
Payment
Date
MN Yr,
08.01 1406
02-01 1997
08.01 1997
02-01 1996
08-01 1998
02-01 1999
08-01 1999
02-01 2DD0
08-01 2000
02-01 2001
08-01 2001
02-01 2002
0"1 2002
02-01 2003
oe-01 2003
02-01 2004
08-01 2004
02-01 2003
06-01 2005
02-01 2006
08-01 2006
02-01 2007
08-01 2007
02-01 2008
08-01 2008
02-01 2009
0"1 2009
02-01 2010
0"1 2010
02-01 2011
08-01 2011
02-01 2012
08-01 2012
02.01 2013
08-01 2013
02-01 2014
08-01 2014
02-01 2015
08-01 2015
02.01 2016
08-01 2016
02-01 2017
06.01 2017
02-01 2010
0801 2018
02-01 2019
08-01 2019
02.01 2020
08-01 2020
02-01 2021
0601 2021
02-01 2022
08-01 2022
02-01 2023
MOt00-01 Nova ee by ENW%1Pu6t01rP M 0661
TAX INCREMENT CASH FLOW
Ong.
Project
CapWred
SemiAnmul
AdMOMM"
PERIOD
Tax
Tax
Tax
Gross Tax
Fee
Yrs. _
Capsedy
Capspay
Cseac4y
Inc ement
10.00%
0.0
454
454
0
0
0
0.0
454
454
0
0
0
0.0
454
454
0
0
0
0.0
454
454
0
0
0
0.5
454
1,480
1,026
579
58
1.0
454
1.480
1,026
579
58
1.5
454
1,480
1.026
579
58
2.0
454
1,460
1,026
579
58
2.5
454
1,480
1.026
579
58
3.0
454
1,450
1,026
579
58
3.5
454
1,480
1,026
579
58
4.0
454
1,490
1,026
679
S8
4.5
454
1.480
1,026
579
58
5.0
454
1,480
1,026
579
58
5.5
454
1.480
1,026
579
se
6.0
454
1.480
1.026
579
58
6.5
454
1,480
1.026
579
58
7.0
454
1,480
1,026
579
58
7.3
454
1,480
1,026
579
se
8.0
451
1,480
1,026
579
58
8.5
454
1,490
1,026
579
68
9.0
454
1,460
1.026
579
SB
9.5
451
1,480
1,026
579
58
10.0
454
1,480
1,026
579
58
10.5
454
1.480
1.025
079
58
11.0
454
1.480
1,026
579
58
115
454
1,460
1.026
579
511
12.0
454
1,480
1,026
579
58
12.5
454
1,480
1,026
579
58
13.0
454
1,480
1,026
$79
58
13.5
454
1,490
1,026
579
58
14.0
454
1.460
1,026
579
58
14.5
454
1.480
1,026
579
38
15.0
454
1.480
1,026
579
58
15.5
454
1,480
1,026
579
$8
16.0
454
1,480
1,026
579
66
16.5
454
1,480
1,026
579
se
17.0
454
+.460
1,026
879
58
17.5
484
1,480
1,025
579
66
18.0
484
1,480
1,026
579
M
18.5
454
1.480
1.026
579
58
19.0
454
+.480
1,026
579
58
19.5
454
1.480
1.026
579
58
20.0
454
1,480
1,028
579
55
20.5
454
1.480
1,026
579
s5
21.0
454
1,460
1,026
579
58
21.5
454
1.493
1,028
579
59
22.0
454
1,450
1.026
579
58
22.5
454
1.480
1.028
579
se
23.0
454
1,450
1,026
579
58
23.5
454
1.480
1,026
579
as
24.0
454
1,480
1.026
879
58
24.5
454
1,480
1.026
579
58
25.0
454
1.480
1.026
57j?
S6
T9161y
11,952
2,891
Present Vokles
10,095
1.010
Othor
Reremle
S.m4Annw1
Net Tax
_Invamtont
0
0
0
0
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
621
521
521
$21
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
521
$21
521
521
521
621
521
521
621
521
521
29MY
9.056
NPV
Tax Invamsm
8.50%
0
O
0
0
423
829
1.219
1,592
1.950
2.294
2.624
2,940
3.243
3.534
3,814
4,081
4.338
4.585
4,821
5.046
5,265
5.474
5.674
5.866
6,050
6.2,26
6.396
6.556
6.714
6,864
7,007
7.145
7.276
7.403
7,524
7,641
7.753
1,860
1,963
6,061
8.156
0.247
6,334
6,417
6.497
6,574
6,648
6.716
6.786
6,651
6.914
8.973
9,031
9.088
P.5/8
PQ. 2
Payment
Date
MN Yr,
08.01 1406
02-01 1997
08.01 1997
02-01 1996
08-01 1998
02-01 1999
08-01 1999
02-01 2DD0
08-01 2000
02-01 2001
08-01 2001
02-01 2002
0"1 2002
02-01 2003
oe-01 2003
02-01 2004
08-01 2004
02-01 2003
06-01 2005
02-01 2006
08-01 2006
02-01 2007
08-01 2007
02-01 2008
08-01 2008
02-01 2009
0"1 2009
02-01 2010
0"1 2010
02-01 2011
08-01 2011
02-01 2012
08-01 2012
02.01 2013
08-01 2013
02-01 2014
08-01 2014
02-01 2015
08-01 2015
02.01 2016
08-01 2016
02-01 2017
06.01 2017
02-01 2010
0801 2018
02-01 2019
08-01 2019
02.01 2020
08-01 2020
02-01 2021
0601 2021
02-01 2022
08-01 2022
02-01 2023
MOt00-01 Nova ee by ENW%1Pu6t01rP M 0661
SEP 27 '95 06:16PM EK -ERS 8 ASSOCIATES
P.6i8
1 f/o7/77
R7tY10eW Redamv.rea - PIIae II Tax In -ort Summary
Pape 1
ASSUMPTION$
Inbatlpn Nate
D.DODO%
Tax Cattaebpn Rate
100%
•
Tax Maaalon Rue
1.209"0
Pay 1902
Tax Exciaian Rate
1.27"60
Pay 1993
v
Tu Eatera bn Rate
1300000
Pay 1994 6tOnru
City Sala Rath for ReW aI0at Prop.M
93.30%
Pay I WI
DnL 260 sewn Ratio
070%
Py 1997
Dial. 260 Bank Tax Rau
71.02%
My 199]
LGA44ACA L41a Per S W TI
25.77%
Pay 1993
f.Iarteauaa Prw.rry Tax Cum Rau.
v372A00
1.OD%
•3731000
L00%
ORIGINAL AND PRO4EC DV
UES
E.Umalw
Eatlrnalw Tax Yew Bwu
Ortpirw
OM*W
CW -W
&..ctw
Seta
AueaW% CaDaWy At TU Yew
Tax Y.ar
MVxn
Tax
Tu
Tax
Maras
Prim
Market Vaa.e Cmnola0*n P"abW
C4re6.a
Vol.
Capacty
COOdty
Inpatiom
1t11
(2)
pI In IN
IBJ.
71
(B)
rot
I101
TSWBryakAve.
1$7.000
i1L746 1135 62/06
92107
66.00D
660
1.475
1.66]
7520 Bryram Ave.
122,000
IIWe 1,557 97/95
62A7
41.900
419
1.,.
1.450
7526 Bryard Ave,
146,000
176216 Loa 93/93
9319.
47.100
471
1.577
2.015
664100ver Aw.
161,000
130.217 2.264 93M
92/93
42.000
an
1.664
2.775
SW -IAA•
SO,D00
74.640 71`3 919s
93197
35.000
750
427
S39
7124Waa1101wn Ave.
171,000
122227 1,72. 931%
97/04
SIM()
5W
1,19.
1,537
7021 N1 ~
100,000
97.700 1.146 93M
93/94
25.000
25D
696
1.165
6310Isw'
60.000
7..640 777 93193
93/9 4
50
",0
"a
725
422
6634.4In•
90.000
93:M 959 93M
97/94
46,100
481
478
622
69t2O3iv.r
1a7,000
/37.151 2.027 23M
931"
46.100
ut
1.542
LDOs
6926 Mar
100.0Q0000
07200 1.146 92/9s
9319.
35100
44,
661
363
SUBfOfAL pAY Y7
7Y4,a0d
74:1,602 9.776
97/93
510.209
I,ta1
6.8/4
6.606,
SUBTOTAL PAY 9.
516.000
u7A2A ,4,741
p3m.
19.,310
',NJ
..000
6,3691
UP -h -40T 6`r L
1.310.000
1.2212]0 46.525
495.100
4, 1
11.574
14.471 i
' TNae properU= mduae eltn.r ron-pmlt owmLAxn awtancs a CDBG Many a e mmW mw tnaed.
SUMMAgv
Total Avttra9e Average
Avera9.
Av.r.pe
"bot Tu Qv Tun
Tu InO.rn.
MV
of I" Mn. pall
Mat
01.IN1
„ 1.502 :.817
1.752
111.113
RI100.17
Papaw W ptamr0. In.
RR2
P.7/8
SEP 27 '95 06'16PM EIiERS 8 ASSOCIATES
11107/97 R,d,6p6 RaO,ac Id - Ph-* 11 Tu Lr0am-t Summary
SUMMARY OF PHASE 11 REVENUE AND EXPENDITURES
Lk-\. h>
Al70011 P,a98re6 6y Pu01cwp, Irk R92
Srm-Annual
S -Ar. l
Orw
lom
InoOma
Total
+
TL
Sao
001M
Tow
Purome
LGAMAU
Tom
lass
Np
PERIOD ENDING
ImoeM.A
0romn4
to o
Inppm.
Exo-
P4ma6y
Eve
Upit as
001111.
/11
(u(31
(4)
(5'1
IEI
m
(01
(9)
1992 08-01
0.0
0
0
0
0
0
0
0
0
OI
1997 02-010.0
0
173,839
3,500
177.339
418,477
D
416.4"
(241.13E1
(.1311
241
1993 08.01
0.0
0
0
0
0
0
0
0
0
(241,13e,
1994 02-01
0.0
O
0
0
01
0
0
0
0
(241.134
1994 0&01
0.5
940
0
0
9101
0
0
0
940
(240.196'
,995 02-01
1.0
"0
0
�
910
0
0
0
940
(239.2315
1995 48-01
155
7,UB
0
0
7.436
0
0
0
7.476
(231.621
1996 02-01
2.0
7,4315
O
0
7,x76
0
0
0
7.43.8
(224.383;
1996 08-01
21
7,438
0
0
7,4351
0
0
0
7,438
(216.946
1997 02.4
3.0
1,438
0
0
Lue
0
0
0
7.434
(209.06
1997 060+
7.5
7, 116
0
0
7438 �
0
0
0
7.436
(202070;
19" 02-01
A,0
7,438
0
0
7,438,
0
0
07,43a
(194,633,
1996 011-01
4.5
7,435
0
0
7,438
0
0
0
7.438
(187,195
1999 02-01
5.0
71315
0
0
743:1,
0
0
0
7.438
(179,757,
1999 08401
5.5
7,438
0
0
743a
0
70
70
7368
(,72390
2000 02-01
Co
74715
0
0
7439
0
70
70
7368
(165.022,
1 2000 08.016.5
743.8
0
0
7,4381
0
192
192
7.245
(157777;
2001 02-01
70
7439
0
0
7.W
0
192
192
7245
(150,532,
2001 040+
7.5
7.436
0
0
7.435'
0
315
3155
7,123
(143,409
2002 02-01
8.0
7.436
0
0
7.431
0
3 5
3,55
7.123
(136.296
2002 08-0t
8.1
7,4315
0
0
74381
0
437
437
7000
(129,286:
2003 02-01
9.0
7.438
0
17A8
0
437
137
7,000
(122265'
2003 08-01
9.5
7,436
0
0
7,435
0
560
660
6,978
(115,407'
2004 02-01
100
7,430
0
0
7.4781
0
560
560
6.876
(108.529;
2004 C)"I
10.5
7.430
0
0
7,431
D
682
682
6.756
(101.774
2005 02-01
11.0
7,438
0
D
7,:1
0
682
682
8,756
(95,018'
2005 0801
11.5
7,438
0
0
7,.43
0
682
662
6.766
(88,283;
2006 02-01
43.0
7.439
0
0
7,4)41
0
662
e82756
(91.5071
2006 0601
125
7.438
0
0
74315
o
1104
"A
6.633
(74.07411
2007 02-01
13.0
7,438
0
0
7,439
0
604
804
6,633
(61.2411
2007 0841
13.5
7,438
0
0
7,431'
0
027
927
6,511
(51.730M
70015 02-01
140
7.439
0
0
7410
0
927
927
6,51,
(55.2,9)
709 080,
,411
7,436
0
0
7.433
0
,.549
1.049
Cue
(48431)
.009 02.0
+55.0
7.438
0
0
7. .415
D
,.049
1.049
6.386
p2,4.2
2009 08-01
15.9
7.439
0
0
1,438
0
1,172
1.172
6.266
(38,17
2010 02-01
16.0
1.43:
0
0
7430
0
1.172
1,172
6.255
x9.9+1
2010 08-01
,e.5
7,a3e
0
0
7.1
0
1,291
,,294
15,+44
(27.7675
:011 02-01
17.0
7.436
0
0
7438
0
1,204
1.291
8.144
(171211
zon o6-0+
17 5
74311
0
0
7,43a
0
1,416
1,416
6,o21
(11 6021
1012 02.01
16.0
7438
0
0
7,433
0
1,.16
1.415
0,021
(6,581y
2012 0",
,Bs
7.38
0
0
7U/
a
,,639
,b79
5,1599
3+7
2013 0Z-01
19.0
7436
0
0
7,.311
0
1.539
1.539
6,898
6.7115
2013 08-01
19.5
7.436
0
0
7.430
0
+.604,
1,615,
6,776
,,.992
2014 02.01
20.0
7436
0
0
7438
0
,,156,
1,661
5.779
17769
2014 0601
20.6
7,438
0
0
7,136
0
1,,M
1.764
6.65.
23.423
7015 02-01
21.0
7436
0
0
7,431
0
1,764
1.1"
1,654
29.477
2015 o601
21.5
7,439
0
0
7. 38
0
1,90a
1,901
1,53,
34,601
2016 02-01
xx.0
7438
0
0
7,438
0
1. "Da
1,906
5,531
.0.140
2016 0601
Z2 1
7.436
0
0
7.438
0
1,959
1.959
6,.79
45,619
2017 02-01
23.0
1436
0
0
7,438
0
1.959
1.959
SAM
51,096
2017 06-01
23,3
7,438
0
0
7,439
0
1,959
1,958
1.479
88.977
2010 02-01
240
7.515
0
0
7431
0
1,939
1.959
15.479
62054
Zola 0601
24.6
7438
0
0
7431
0
,.959
1.959
6,479
67531'
20,6 02-01
245.0
7,435
0
0
7.431
0
1,951
1.459
8.479
7301.
2019 040126.5
3,185
0
0
3,185
0
639
839
2.348
75.360
2070 02.01
2610
3.186
0
03.18
0
074
439
Lre
".704
01.435
366,455
,Man
3.O0o
1542.554
418,477
M, 10
1M811,
77,
Lk-\. h>
Al70011 P,a98re6 6y Pu01cwp, Irk R92
SEP 27 '95 06:17PM EH -ERS S PSSOCIRTES
0927/95 Montice0o FF/e OushfOng a Redevviopmern District
OPTION 1
IParcef Name
Parcel Number
Nanawatl
155-500434105
BanyN
155-500933401
State of MN
155-500-031402
State of MN
155500-031400
Kattmanc
155-5004)33403
Townhorns 1
155-072-001017
Ta -home 2
155072-001077
Townewme 3
155072-001017
Townlame 4
155-072-001077
Towrtflo m 5
155072-001077
TownMme 6
155-072.00107
Townnome 7
155-072-001077
IToW SqyareFoouW
IParcela slEt(rigof
Of D4trfd aro Occupied
Parcel
Improvements
Percom of
Sae of Panda
Square Feet
Square Feet
Coverage
Occupied
12_000
3.818
-1-1.92%
-12,000
"Al
7.028
15.66%
4,857
10.860
5.000
45.91%
10.990
66,211
10.000
15.10%
66,211
90,605
16,000
17.66%
90.605
14.935
2.200
14.73%
14,935
14,935
18,37%
10.890
14,935
66,211
20.1700
30.21%
14.935
Katzmalc 155500033403
90.805
14.935
17.88%
90.605
2 2
14,935
P4,513
14.935
5 41
Parcels tonsis8rg of
160.00%
329,117
239.506
72.77%
P.6/8
Papa 1
Nurnbw W Num Der of
8u0dlnas Bided Bldm.
2 2I
2 2I
5 u
80.00% of Woe b0gMed
OPTION 2
Parcel
Impmvemants
Percent of
Size at Pa-ws
f4t Tbw of Number d
Parcel Nemo Parcel Nurlbar
Square Fee
Scars Feet
a
Oammed
Bundrnos BupMed 80
Halawatt 155500434M
12,000
3.818
3f.62%
12,000
1
Batyal 155.600433401
44,867
7.028
15.66%
41.687
2 2
Stale of MN 155.500033402
10.890
2.000
18,37%
10.890
State of MN 155300-033400
66,211
20.1700
30.21%
66.211
Katzmalc 155500033403
90.805
16.000
17.88%
90.605
2 2
OW Square Footage
P4,513
224.573
5 41
Parcels tonsis8rg of
160.00%
80.00F of bldpe bllgntsd
Of District are Occupied
MTIDD-01 Prepae0 bV ENer%NhA*coN Ino. RFI
I
HRA AGENDA
OCTOBER 4.1995
41
1 .�1 tl
y \. . .I . -7.111
Attached is a clear explanation as prepared by PRG upon the request of the HRA
as to why the descrepancy between the original estimated TIF Penalty and the
State's Aid Reduction. 1 was unaware that the original penalty estimates might
change during the life of a district because of changes in the school sales ratio and
equalized levy tax rate.
Again be reyni-W the HRA is not penalized; however. the City is penalized and no
doubt will have an interest in this information.
L
C Page I
SEP-2B-'95 TFU 11:26 ID: TEL NO:
PUBLIC RESOURCE
t
'.
GROUP, INC.
.
t
Business Develo/mirnr tS>• Finance Specialists
MEMORANDUM
To: '
Monticello Housing and Redevelopment Authority
01he Kompehak, HRA Director
PR014;
Leonard P. Kirscht, Public Resource Group
DATE:
September 28. 1995
LAA Penalties
Economic Development TIF Districts
0719 Pet
Pursuant to. your request of September 27, 1995, I have prepared an analysis of the LGA
pepaltles related.to the tax increment districts of Aroplax, Suburban Machine, Standard Iron, and
Cuspnm Canopy. This analysis compares the LGA estimates trade with the available information
at the time the districts were established and the current information (payable 1994) that has been
provided by the Minnesota Department of Education.
When we prepare our TIF analysis, PRG estimates the 'new' market value that will be
Qaierated by a project. These estimates are derived from discussions with the County Auesaor
baud an square foot valuations of steel/concrete construction. At this time we determined the
'School Sala Ratio' and "Equalized Levy Tax Rate", both of which are used to calculate LGA
penalties.
LGA.penalties am calculated by the following three step process.
I. Captured TIF lax capacity is multiplied by the phase-in percentage to determine the
qualifying tax capacity. 'rhe qualifying tax capacity It the basis for LGA petialties,
2. The qualifying tax capacity (QTC) is divided by the school sales ratio to determine the
adjusted qualifying tax capacity, (AQTC) which is an adjustment for future anticipated
value Increases. A QTC divided by a number Itis than I will crew a higher AQTC:.
9. The AQTC Is multiplied by the equalized tax rate (also referred to as penalty tax rate)
-which determines the estimated LGA. tt
4205 Lancaster Lane North 4 Suite 110D • Mlnnapolic Minnewu SSRI 4 (612) SS47979 • (612) 5549221 Fax
r
SEP -28-'95 TF1J 11:27 ID: TEL NO: W719 P03
v Fas,.00rldn-,cy. we have used the 1= captured TIF tax capacity from our otigylszl estlritatu
but utilised the original sales ratio and tax rates as well as the current (1994) sstef.tatios and taut
Ae.yoti.will see, the LGA penalties are significantly different. In W cases, the ulm rado. hu
redudeQ and ►`.a tax rate has increased since each district was certified. When.we pz'u.ied the
otlgiaial IAA estimates, we had no alternative but to use the information which was'at t Ot
•• IF WE -THE CURRENT ACTUAL TAX CAPACITY IN THESE CALCUi.ATiONS,
TH% LCIA ANALTIES WOULD BE VERY SIMILAR TO THOSE PRES&MM30 M RICK
• WOLFSrTBtLffit.
Otu',tyggestion to'OWe would be tore elate the LGA penaidu each year in Juzie to.beaer
aut0d0.aW upcoMing LGA losses. We believe that this mechanism will better urea fte1mg4 m
rwe&.of'the City: Unfortunately, this process is not an exact.sdance because of changes in
vaUradoos, Lagos, and, tan rates:
If you. have any questions or require additional information, please call me u (612)o 550.7979.
We iappredate our relationship with the City of Monticello and look forward to w. wig you in
thq'1WWle. 1
TAXES
PAYABLE
TAX INCREAENI FIVJKN 4G
ESTIMATE OF LOCAL GOVERNMENT LAMENT AIDS PENALTY
CRY: MONTICE3LO
SCHOOL DIST: am
TYPE OF DIST:ECON OEVN1R0PLAX
CAPTURED r -� • QUALIFYING SCHOOL
TIF TAX PHASE4N TAX SALES
CAPACITY PERCENTAGE CAPACFTY RATIO
SALES RATIO:
EST TAX RATE
TAX CAP RATE:
ADAIMO
0UA JFYO/0
TAXCAPACRY
INT 0RI0 INFO.
0=0
21.60% _
67.7m
TAX
PENALTY INCREMENT
TAXRATE PENALTY
1690
100.00%
0.00
1.001
0.00
24.60%
0.00
1991
100.00%
O.00
1.001
0.00
24.60%
0.00
1992
100.0016
0.00
1.001
0.00
24.60%
0.00
1993
21,170.00
100.000%
21.170.00
1.001
21,146.85
24.60%
5,20262 --
19%
21,136.00
100.00%
21,136.00
1.001
21,114.69
24.60%
519426
1995
21,101.00
100.00%
21,101.00
1.001
21,079.92
24.80%
5,106.68
1996
21,065.00
100.00%
21,065.00
1.001
21,043.96
24.60%
6,176.61
1997
21.aS-00
100.00%
21,029.00
1.001
21,007.99
24.60%
5,167.97
1996
2D.69L00
100.00%
20.992.00
1.001
20,971.00
2480%
5.156.67
1999
20.964.00
100.00%
20.954.00
1.001
20,933.07
24.60%
5.149.53
2000
20.915.00
100.00%
20,015.00
1.001
20,694.11
24.60%
5.139.65
2001
0.00
100.00%
0.00
1.601
0.00
24.60%
0.00
2002
0.00
100.00%
0.00
1.001
0.00
24.GD%
0.00
20019
0.00
100.00%
0.00
1.001
0.00
2460%
0.00
2004
0.00
100.00%
0.00
1.001
DOD
24.60%
0.00
20M
0.00
100.00%
0.00
tool
OGD
24.60%
Om
2006
0.00
100.00%
0.00
1.001
GAD
24.60%
0.00
2007
a"
100.00%
0.00
1.001
OGD
24.60%
0.00
2006
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2009
000
100.00%
0.00
1.001
0.00
24.60%
Om
2010
GAO
100.00%
0.00
1.001
0.00
21.60%
0.00
2011
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2012
0.00
100.00%
0.00
tool
0.00
24.60%
0.00
/^\
o
�v
�.zaoo
vo
ovo.
smvvo o.vc
v
'/
O
l
H
U
nl
Qi
D
IZS
l
W
ni
M
TAX INCREMENT FKANCNG
EM"TE OF LOCALOOVERIGIEW NDS PENALTY
VW1004 0".
CRY:
MONTiCELLO
SALES RATIO
0.972
SCHOOL DIST:
Q862
EST TAX RATE:
3928%
TYPE OF DISTiCON DEVNIROPINX
TAX CAP RATE:
112.873%
CAPTURED
QUALIFYING
SCHOOL
AD&P$TED
c
TAX
TAXES
TF TAX
PHASE -P1
TAX
SALES
QUALIFNM
PENALTY
DICREMENT
PAYABLE
CAPACITY
PERCENTAGE
CAPACITY
RATIO
TAA( CAPACITY
TAX RATE
PENALTY
199010
;cZ-
, 0.00
U72
OAO
39.28%
0.00
1991
100.00%
0.00
0972
0.00
39.28%
MOD
1992
100.00%
0.00
0.972
0.00
39.28%
0.00
1993
21,170.00
100.00%
21,170.00
0.972
21,77984
39.29%
8,566.12 -
1994
21,136D0
100.00%
21,136.00
0.872
21,74486
39.26%
8,54139
1995
21,101.00
100.00%
21,101.00
0.072
21,70885
39.28%
8.52124
1996
21.065.00
100.00%
21.066.00
0.072
21,87181
3928%
8,512.69
1997
21,o29D0
100.00%
21,029.00
0.972
21,634.77
3926%
8.498.14
1998
20992.00
100.00%
20.99200
0972
21,598.71
3925%
8,483.19
1999
20,964.00
100.00%
20.954.00
a972
21,667.81
3928%
6,48783
2000
20,915.00
100.00%
20.915.00
a972
21,517.49
3925%
8,452.07
2001
0.00
100.00%
0.00
0.072
0.00
3926%
0.00
2002
0.00
1oo,om
0.00
0.972
OOD
39.25%
0.00
2003
0.00
100.00%
0.00
0.972
0.00
3926%
0.00
2004
0.00
100.00%
0.00
&972
000
39.26%
0.00
2005
0.00
100.00%
0.00
&972
080
39.26%
ODO
2006
000
100.00%
0.00
&972
0.00
39.26%
0.00
2007
000
100.00%
0.00
0.972
000
39.28%
0.00
2005
080
100.00%
0.o0
0.972
0.00
39.28%
0.00
2009
080
100.00%
0.00
0,972
0.00
39.28%
0.00
2010
0.00
100.00%
0.00
M072
0.00
3928%
0.00
2011
080
100.00%
0.00
0.972
oAo
3928%
0.00
2012
080
100.00%
0.00
0.972
0.00
3928%
0.00
H
U
nl
Qi
D
IZS
l
W
ni
M
TAX INCREMEW FNIWCING
ESTMATE OF LOCAL GOVERNMENT NDS PENALTY
MOM NFO.
CRY: MONTICELLO SALES RATIO: 0973
SCHOOL DIST: am EST TAX RATE: 30.76%,%
TYPE OF DLSTBCON DEVISUB MH CHM TAX CAP RATE: 99.900%
O
LJ
u.
m
w
I
f
CAPTURED
so
0UALffY1NG �
SCHOOL -��
ADJUSTED m
�
TAX aQ
TAXES
TF TAX
PHASE-IN
TAX
SALES
CUAUFYI NG
PENALTY
INCREMENT
o�PAYA8I.E
® CAPACITY
PERCENTAGE
CAPACTYav
RATIO
TAX CAPAC
TAX RATE
PE?MTY
1890
100.00%
oe
0.00
0.973
0.00
n�
30.76%
o y
0.00
1991
100.00%
0.00
0.973
0.0^
30.76%
000
1992
100.00%
0.00
0.973
O.W
30.76%
000
1993
0.00
100,00%
0,00
0.973
0.00
30.76%
0.00
1904
12,580.00
100.00%
12.600.00
0.973
12.929.09
30.76%
3.976.99
1995
12,580.00
100.00%
12,58000
0.973
12,929.09
30.76%
3,97099
1996
12,590.00
100.00%
12,580.00
0.973
12 29.09
30.76%
3.976.99
1997
12,580.00
100.00%
12,580.00
0.973
12,929.09
30.76%
3.976.99
1908
12,580.00
100.00%
12,58000
0.973
12J29.09
30.76%
3.976.99
10"
12AN.00
100.00%
12,580.00
0.973
12,929.09
30.76%
3.976.99
2000
12,590.00
100.00%
12,58000
0.973
12,929.09
30.76%
3,976.99
2001
12,680.00
100.00%
12,580.00
0.973
12,929.09
30.76%
3,976.99
2002
0.00
M00%
0.00
0.973
0.00
30.76%
000
2003
0.00
100.00%
0,00
0.973
0.00
30.76%
0.00
2004
000
100.00%
0,00
0.973
0.00
30.76%
0,00
2005
0.00
100.00%
000
0.973
0.00
30.76%
0.00
2006
0.00
100.00%
0.00
0.973
0.00
30.76%
0.00
2007
0.00
100.00%
000
0.973
0.00
30.T6%
0.00
2006
0.00
100.00%
0.00
0.973
0.00
30.76%
0.00
2009
0.00
100.00%
0.00
0.973
0.00
30.76%
000
2010
0.00
100.00%
0.00
0.973
0.00
30.76%
0.00
2011
0.00
100.00%
0.00
0.973
0.00
30.76%
0.00
2012
0.00
100.00%
0.00
0.973
OAO
30.76%
0,00
O
LJ
u.
m
w
I
f
TAX NCRENENT FIIIANCOIG
EST ATE OF LOCAL C YWERW @R AIDS P EIWTY
CRY: NOHTICELLO SALES RATIO:
SCHOOL O1ST: M EST TAX RATE:
TYPE Of DISTECON DEYJSUB. MACHINE TAX CAP RATE:
TAXES
CAPTURED
TF TAX
PHASE-IN
QUA1JFMG
TAX
SCHOOL
SALES
ADJUSTED
QUALIFYING
PAYABLE
CAPACUTY
a a�
PERCENTAGE
CAPACfTY
RATIO
TAX CAPACITY
1990
100.00%
0.00 a_
0.972
QaQoa 0.00
1991
5,083.T7
100.00%
0.00
0.972
0.00
1992
ODo
100.00%
0.00
0.972
moo
1993
000
100.00%
0.00
0.972
0.00
1994
12,680.00
100.00%
12590.00
0.972
12.94239
1995
121590.00
100.00%
12580.00
0.972
12,942.39
1996
12,580 00
100.00%
12580.00
0.972
1204239
1997
12,580.00
10000%
12,580.00
0.972
12,942.39
1998
12,580.00
100.00%
12.580.00
0.972
12,94239
1999
12 590.00
100.00%
12,590.00
0.972
12.94239
2000
12580.00
100.00%
12 smoo
0.972
12 42.39
2001
12,58000
100.00%
12,580.00
0.912
12JM139
2002
000
10000%
0.00
0.972
0.00
2003
0.00
100.00%
Moo
0.972
0.00
2004
0.00
100,00%
o.o0
0.972
o.00
2005
000
100.00%
O.00
0.972
ao0
2000
000
100.00%
0.00
0.972
(Loo
2007
0.00
100.00%
Moo
0.972
Moo
2008
coo
/00.00%
0.00
0.972
aoo
2009
000
MOD%
0.00
0.972
aoo
2010
0,00
100.00%
Moo
0.972
0.00
2011
0.00
10000%
aoo
0.972
0.00
2012
0.00
100.00%
0.00
0.972
0.00
W11994 INFO. ril
Q,
0.972 O1
39.28%
112.873%
TAX 61
PET4ALTY WREME iT o
TAX RATE PENALTY
3928%
0.00
3928%
OD0
3918%
OJp
3928%
0.00
3928%
5,083.77
3928%
5.083.77
39.28%
5,083.77
39.28%
5.083.77
39.28%
5.083.77
39.28%
5,083.T7
39.28%
5,083.77
39.28%
5.083.n
3918%
ODo
39.28%
ODO
39.28%
ODo
39.28%
om
3928%
0D0
3928%
0.00
3918%
0.00
3928%
o.w
3928%
o.00
3928%
0.00
3920%
0.00
b
r
TAX INCREMENT F94ANCRW
ESTUATE OF LOCAL WYERNMENT Amb PENALTY
WfOR1O INFO.
CITY: IIOHTICELLO SAI IP RATIO: 1.001
SCHOOL 01ST: I= EST TAX RATE: 24.80%
TYPE OF OISTZCCp1 DEVICUSTOY CANOPY TAX CAP RATE: 100.000!6
omam3cQm
CAPTUR®
om�s�
s�
QUALIFYING
SCHOOL
o
AO,RISTED
®®�
TAX
TAXES
TF TAX
P"ASE4N
TAX
SALES
QUALIFYING
PENALTY
INCREMENT
PAYABLE
CAPACITY
PERCENTAGE
CAPACITY
RATIO
TAX CAPACITY
TAA( RATE
�
PENALTY
1890 cII
100.0096
0.00
1.001
0.00
24.801L
0.00
1991
100.00%
0.00
1.001
0.00
24.60%
0.00
1992
100.00%
0.00
1.001
0.00
24.60%
0.00
1993
0.00
100.00%
0.00
1.001
0.00
24.80%
0.00
1994
0.00
100,00%
0.00
1.001
0.00
24.80%
0.00
1995
9,670.00
100.00%
9.870.00
1.001
9,860.14
24.80%
2.42559
1996
9,870.00
100.00%
9.870.00
1.001
9.8611.14
24.80%
2A25.59
1997
9,870.00
100.00%
9.870.00
1.001
9.860.14
24.80%
2,42559
1998
9,670.00
100.00%
9.870.00
1.001
9,860.14
24.60%
2,42559
1999
9,870.00
100.00%
9.870.00
1.001
0,860.14
24.60%
2.42559
2000
9,870.00
100.00%
9.870.00
1.001
9,860.14
24.60%
2,42559
2007
9,870.00
100.00%
9,870.00
1.001
0,880.14
24.60%
2,42559
2002
9.870.00
100.00%
9.870.00
1.001
9,860.14
24.8016
2142559
2003
0.00
100.00%
0.00
1.001
0.00
24.80%
0.00
2004
0.00
100.00%
0.00
1,001
0.00
24.60%
0.00
2005
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2006
0.00
100.00%
0.00
1,001
0.00
24.60%
0.00
2007
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2008
OW
100.00%
0.00
1.001
0.00
24.80%
Q00
2009
0.00
100.00%
0.00
1.001
0.00
24.801%
0.00
2010
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2011
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2012
0.00
100.00%
0.00
1.001
0.00
24.80%
0.00
TAX INCREMENT FINANCING
ESTIMATE OF LOCAL GOVERNMENT AIDS PENALTY
CRY: IWOON IC9J-O
SCHOOL DIST: P18B2
TYPE OF DIST:ECON DEYICUSTWI CANOPY
vW19" DEO.
SALES RATA 0972
EST TAX RATE n29% j
TAX CAP RATE: 112.873%
����
•• CAPTURED
e e
CKJAL FYNG
SCHOOL
ADJUSTED
TAX
TAXES
TF TAX
PHASE -91
TAX
SALES
QUALIFYING
PENALTY
DICREMENT
PAYABLE
CAPACITY
PERCENTAGE
CAPACITY
RATIO
TAXCAPACITY
TAX RATE
PENALTY
1990
..0 100.00%
0.00
0.972
0.00
391W
0.00
1991
100.00%
0.00
0.972
0.00
3928%
ODD
1992
100.00%
0.00
0.972
0.00
3928%
0.00
1993
0.00
100.00%
0.00
0.972
0.00
3928%
0.00
19M
0.00
WOW%
0.00
0.972
0.00
3928%
0.00
1995
9,870.00
100.00%
9,870.00
0.972
10,154.32
3928%
3,988.62
1996
9,870.00
10000%
9.870.00
0.872
10,154.32
3928%
3,98SE7.
1997
9,870.00
100.00%
9,870.00
0.972
10,154.32
3928%
3,988.82
1999
9,870.00
100,00%
9,870.00
0.972
10,154.32
3928%
3,988.82
1999
9,870.00
100.00%
9,870.00
0.972
10.154.32
3928%
3,988.82
2000
9.870.00
100.00%
9,870.00
0.972
10.154.32
3928%
3,988.92
2001
9,870.00
100.00%
9,870.00
0.972
t0,1b4.32
3928%
3,988.92
2002
9,870.00
100.00%
9,870.00
0.972
10,154.32
3928%
3,988.67
2003
0.00
10000%
0.00
0.972
0.00
3928%
ODD
2004
0.00
100.00%
0.00
0.972
0.00
39.28%
0.00
2006
0.00
100,00%
0.00
0872
0.00
39.29%
0.00
2006
0.00
100.00%
0.00
0972
0.00
39.28%
0.00
2007
0.00
100.00%
0.00
0.972
0.00
3928%
0.00
2009
0.00
100.00%
0.00
0972
0.00
3028%
0.00
2009
0.00
100,00%
0.00
0972
OAO
39.28%
0.00
2010
0.00
100.00%
0.00
0972
0.00
39.28%
coo
2011
0.00
100.00%
0.00
0972
0.00
3928%
000
2012
0.00
100.00%
0.00
0972
0.00
3928%
0.00
'n 0
LL
i
TAXES
PAYABLE
CAPTURED
TF TAX
CAPACITY
TAX INCREMENT Ft4ANCIHG
ESTINII►TE OF LOCAL GOVERNMENT AIDS PENALTY
CRY: YCUMELLO
SCHOOL DIST: SIM
TYPE OF DIST£OON DEMIST RO N
OUALFYNG SCHOOL
PHASE -N TAX SALES
PERCENTAGE CAPACITY RATIO
6�66D•
SALES RATIO.
EST TAX RATE:
TAX GIP RATE:
ADJUSTED
OUA JFMG
TAX CAPACITY
Q ^
WIORRI NPO.
1,001
24.60%
107.200%
TAX
PENALTY NCR E E WT
TAX RATE PENALTY
IIa
1990
I00.00%
6.00
1.001
0.00
24.60%
0.00
1991
100.00%
0.00
1.001
0.00
24.60%
0.00
1992
100.00%
0.00
1.001
0.00
24.60%
OAO
1993
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
ION
0.00
20.00%
0.00
1.001
0.00
24.60%
0.00
1995
55,715.36
40.00%
22.M.'14
1.001
22.263.68
24.60%
5,476.91
1996
55,643.97
60.00%
33,36638
1.001
33,353.03
24.60%
6.204.65
1997
55,569.73
80.00%
44,456.16
1.001
44,411.37
24.80%
10,92520
1998
55,49252
100.00%
55,49252
1.001
SW7.08
24.60%
13,63752
1999
55,41222
100,00%
55,41222
1.001
55,356.86
24.60%
13,617.70
2000
55,328.71
100.00%
55,12611
1.001
55,273.44
24.60%
13,59727
2001
56,241.66
100.00%
55 4188
1D01
65,166.67
24.80%
13,575.92
2002
66,151.54
100.00%
55,15154
1.001
55,006.44
24.60%
13,553.73
2003
55,057.60
100.00%
55.057.60
1.001
55.002.80
24.60%
13,530.64
2004
0.00
100.00%
000
1.001
0.00
24.60%
0.00
2005
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2008
0.00
100.00%
0.00
1D0i
0.00
24.40%
0.00
2007
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2008
0.00
100.00%
0.00
1.001
0.00
24.60%
0.30
2009
0.00
10000%
0.00
1.001
0.00
24.60%
0.00
2010
0.00
100.00%
0.00
1.001
0.00
24.60%
0.00
2011
0.00
100.00%
oA0
1.001
0.00
24.60%
0.00
2012
0.00
100.00%
_
oAo
o
1.001
0.00
24.60%
o _
0.00
-
O
�
i
TAX NCREJ119iT RNAl1CNG m
ESTBMTE OF LOCAL GOWWA NT Alp$ PENALTY Wl1994 INFO.
m
CRY: MONTICELLO
SCHOOL DIST: 0882
TYPE OF OIST£C071 DEVIST. IRON
SALES RATIO: 0.9721
EST TAX RATE: 3928% _
TAX CAP RATE 112973%
J
CAPTURED a
ome®_
OUAUFYNG • _
SCHOOL
ADJUSTED �®
TAX
TAXES
TF TAX
PHASE4N
TAX
SALES
QUALIFYING
PENALTY
NCRE EENT
PAYABLE
CAPACITY
PENCENTAGE
CAPACITY
RATIO
TAX CAPACTTY
TAX RATE
PENALTY
1990
100.009E
o 0.00
0.972
0 0.00
39.28%
�cII 0.00
1991
100.00%
0.00
0.972
0.00
3928%
0.00
1992
100.00%
0.00
0.972
0.00
3929%
0.00
1993
0.00
100.00%
0.00
0.972
0.00
3928%
0.00
1994
0.00
20.00%
0.00
0.972
0.00
3928%
0.00
1995
56,715.38
10.00%
22,288.11
0.972
22,928.13
3928%
9,006.17
1996
56,643.97
80.00%
33,388.38
0.972
31,348.13
3928%
13,491.95
1997
55,569.73
SOHO%
44,465.78
0.972
45,730.40
3928%
17,96626
1998
56,492.52
100.00%
55,492.52
0.972
57,091.07
39.28%
2212537
1D99
56,41222
100.00%
56,41222
0.972
57,008.46
3928%
22.392.92
2000
58,328.71
100.00%
55,329.71
0.972
50.1IMS4
39.28%
22,399.17
2001
55241.86
100.00%
5524198
0.972
50,833.19
3928%
71,324.08
2002
55,151.54
10000%
65.15154
0.972
66.74927
3928%
27.281.68
200.7
55,057.60
100.00%
55.057.60
0.972
56.643.82
3920%
22249.61
2000
oAo
100.00%
0.00
0.972
0103
3928%
0.00
2005
0.00
100,00%
0.00
0.972
11.00
3928%
0.00
2008
0.00
100.OD%
0.00
0.972
000
3928%
0.00
2007
0.00
10000%
0.00
0.972
000
39.28%
0.00
2008
0.00
100.00%
0.00
0.972
0110
3929%
0.00
2009
000
100.00%
0.00
0.972
0.0l)
3928%
0.00
2010
0.D0
100.00%
0.00
0.972
3.00
3928%
0.00
2011
0.00
100.00%
0.00
0.972
0.00
3920%
O.00
2012
0.00
/00.00%
0.00
0.972
0.00
3920%
D00
J
MONTICELLO
,District Name
C
AROPLAXTIF#1-12 /S,o00
,#
S M M N.We.
CUSTOM CANOPY TIF #I-15
STANDARD IRON TIF #1-13
a-
(99(►
Tax Increment Aid Reduction
j
1995
Type of
Certification
Retained
Co.
District
Request Date
Captured Value 0/,
4-04L0
',•
r F`
86
E
6/28/91
ro � I � $24,642 00
86
E
9/4/92
�,'ssrf $15,079
86
E
4/30/93
;;iJl�� $11,820 /6.1.(
86
E
10/5/93
cv
4,olj - $20,754 9Y
jl.V1 / a
HRA AGENDA
�. OCTOBER 4.1995
Attached is a copy of the Monticello TIF Policies with the addition of the ninth
criteria. This has been reviewed and accepted by Attorney Bohol. We were unclear
as to your request for residency (city or local), please specify.
If the HRA agrees with the proposed criteria (city or local), a motion should be
introduced amending the current Monticello TIF Policies to include the proposed
criteria.
Page I
v
HOUSING AND REDEVELOPMENT AUTHORITY
City of Monticello
TAX INCREMENT FINANCING POLICY
Program Purpose: The Monticello Housing and Redevelopment
Authority will utilize Tax Increment Financing to support the
community's long-term economic and housing goals.
Policy Considerations: The HRA will analyze and evaluate Tax
Increment Financing proposals based upon the following policy
considerations. Each project shall be measured against these
considerations and the project's value shall be determined, based
upon meeting these considerations.
1. The project shall be consistent with the City's Comprehensive
Plan.
2. The project shall demonstrate long-term economic and/or
housing benefits to the community.
3. The project shall create and/or retain employment for
Monticello residents.
4. The project shall increase moderate priced housing options for
area residents.
5. The project shall facilitate the redevelopment or elimination
of "substandard" or "blighted" areae as determined by the HRA.
6. The project shall facilitate the "clean-up" of environmentally
unsound property.
7. The project shall provide additional public funding for public
improvements including utilities and/or park development which
would not otherwise be available.
B. The project shall be deemed to promote additional desired
�—►� "spin-off" development.
UThe project shall demonstrate "community involvement"
including demonstrated degrees of the various factors:
�—al sit_, esidency of the company's owners and employees, or
CO
b)residencyof the contractors involved in the
L17project, or
c1 Membership in local business organizations, or
d) Other similar factors.
Auamey a l..
Gma Did (612)7n-9221
September 15, 1995
011ie Koropchak
Economic Development Director
City of Monticello
P.O. Box 1147
Monticello, Minnessota 55362-9245
RE: Billings
Dear 011ie:
KENNEDY & GRAVEN
ca,wteasn
rte.. au. m."M
Y.a.sr. (113) JM311
You received two invoices (copies enclosed) that include research related to local hiring
preferences. The total attributed to that work is $1.389.80. As we have discussed, those
invoices include time that 1 had not intended to bill and the total is clearly excessive. A more
reasonable fee for this work is $300.
1 understand that you have already paid these invoices, so 1 propose that we credit your account
for Redevelopment -General (Our file No. MN190-41) in the amount of $1,089.80, to be applied
against future billings under that file. The invoice you will receive soon for August services does
not contain any work on this file, but I suspect there will be tune in September attributable to
this file, for which the credit will apply.
If this arrangement is acceptable, please let me know. 1 apologize for any inconvenience this has
caused, and appreciate your understanding.
Very truly yours.
5W,
Stephen J. Bubul
SJB:gak
CS.a>
b KENNEDYatGRAVEN
\� 200 South Stah Saes, kft 470
y M m pok MN 55402
(612) 337-9300
July 20, 1995
City of Monticello
PO Box 1147
Monticello, MN 55362-9245
MN 190-00041: Redevelopment - General
Invoice # 3570
Through June 30, 1995
For All Legal Services As Follows:
`66/02/95
JPF Research constitutional issues re City TI F
4.30
266.60
ordinance
X6/04/95
OF Research constitutional law issues re ordinance
3.50
217.00
concerning TIF
5/95
JPF Research constitutional law issues re TIF ordinance
4.00
248.00
11/95
SJB Research TIF criteria question
0.50
62.00
Total Services:
$
793.60
Attorney Summary
Judite P. Fluger 11.901 62.00/hr
731.60
Stephen Bubul 0.50 a 124.00/Iv
62.00
For All Disbursements As Follows:
05/31/95
Photocopies
1.00
Total Disbursements:
$
1.00
Total Services And Disbursements:
$
794.60
June 15, 1995
City of Monticello
�tl►`
HOLMES at GRAVEN
Cn:oaed
200 South Slash Saes, Supe 470
Monticello, MN 55362-9245
Mho, MN SS402
(612) 337.9300
June 15, 1995
City of Monticello
PO Box 1147
Monticello, MN 55362-9245
MN 190-00041: Redevelopment - General
Invoice N 2672
Through May 31, 1995
For All Legal Services As Follows:
05/08/95 SJB Phone call with O. Koropchak re TIF
0.50
62.00
05/12/95 SJB Phone call with O. Koropchak re TIF legislation
0.30
37.20
status
05/17/95 %JH Phone call with 0. Koropchak and L. Kirscht re
0.30
37.20
TIF modifications
05/24/95 SJB Review TIF bill and draft summary
0.40
49.60
05/25/95 SJB Draft Summary of TIF Bill
1.00
124.00
05/26/95 SIB Finish TIF Summary
1.00
124.00
10"0/95 SIB %Icet with law clerk re TIF policy question
0.30
37.20
5/30/95 JPF Research re constitutional limitations of ordinances
1.50
93.00
� with local hiring preferences
LS /31/95 JPF Research constitutional issues re ordinance TIF
7.50
465.00
provision
Total Services:
S
1,029.20
Attorney Summary
ludite P. Fluger 9.00n 62.00(hr
558.00
Stephen Bubul 3.80 a 124.00/hr
471.20
Total Services And Disbursements: S 1,029.20
QG -k
I
,rte
THE MONTICELLO INES AND SHOPPER
_ 118 East RWW ShK Bm 548. Mwft . UN 5&382 • (612) Wi-M 31
CITY OF MONTICELLO
MFA
0400MAND
P.O. BOX 1147 AMON{PAID
MONTICELLO MN 55562
Petr WW PLEASE WkKE CHECKS PAVBLE TO
ABDYE L PtONTICELLO TIMER INC.
0000000 0002566=
PAGE 1 PLEASE DETACH MID RERM UPPER PORIKIN WITH PamSff
BALANCE FORWARD... 4,681.56
8/30 PAYMENT J 4,681.5&
138766 8/10 10" AGENDA 7:,.80 r
138784 8/06 8" BUILDING PERMIT —64.00 X
139148 8/17 19.50 IN TIMES AD —71. IS
MONTI PATHWAY SYSTEM RULES
l.svl6a 8/24 3" ORD AMENDMENT 275 —2.14
T
139168 8%24 6" ORD AMENDMENT 274 44.28 �(
139191 8/20 19.5" PATHWAY SYSTEM RULE —2Q4. 75 Y
17-9495 8/31 1.00 EA COM. GUIDE --p67.(10 �(
1/2 PG HEARTLAND EXPRESS — —
139548 8/31 1.00 EA COM. GUIDE ' / 460. 0
FULL PG
13954e 8/31 COLORED INK ( 7� 225.00
139639 B/31 1.00 EA COM. GUIDE 1` 1460. 00
FULL PG MAP
139679 8/31 COLORED INk.
139791 8/31 2" GROUP HEALTH, LIFE.DEN 14.76
159791 8/31 6" PUBLIC HEARING SWIFT C 76.(12
139791 8 / 31 13.5" HRA PROJ a 1 a 1'TI . 05
134791 8/31 1.5" WWTP FACILITIES +..0I 1
13981= 8/27 19.5" PATHWAY RULES -i 3.58 h
jFall Home Improvemont and Real
Eetato nectton coming to SpIltemner.
Call 2Q5-71'•1 today.
0=l9 UIiIIDON 01VM=;
Cpo�.����Iyyyrm nL _ _.__.___. You „
Y 0111010 Waft"
I Palvolawax a iii rw�m MOLOWtFD won `�� TOTAL ME
� y�952711
4,681.86 2,5'saw 4,Malec" 1' .00 ."
00
tutaow wum wteow �t4,ow
>^J�/i /
gyp . 57,6.6Z
111HYOIrtpMr Ba f�'w�w••• ••"•?.'SZ:.."i�Tw••ww...�• I as"inM'
1168. aw•.�w.1�wr. • —
nt, 2. 536. t
KENNEDY a GRAVEN ISChanued
, b�
200 swM Ruh Sant, Supe 470
i Mhwxoas. MN 55402
(612) 337-9300
September 20, 1995
City of Monticello
PO Box 1147
Monticello, MN 55362-9245
MN 190.00050: Vector Tool Land Sale
Invoice H 5541
Through August 31, 1995
For All Legal Services As Follows:
07/27/95 DJG Draft Vector Tool agreement 3.00 300.00
07/28/95 DJG Draft Vector Tool agreement 2.50 250.00
08/02/95 SJB Phone call with O Koropchek re contract 0.20 24.80
08/03195 SJB Phnne call with O Koropchek re contract 0.75 31.00
08/22/95 SJB Phone call with O. Koropchek re Vector agreemcn, 0.25 31.00
Total Services: $ 636.80
Attorney Summary
Daniel 1 Greensweig 5.50J 100.00/hr 550.00
Stephen Bubul 0.70 a 124.001hr 86.80
For All Disbursements As Follows:
07/26/95 Parking expense 8.00
07/31/95 Messenger Service 48.60
08/10/95 Photocopies 80.00
Total Disbursements: $ 136.60
Total Services And Disbursements: S 773.40
•1�� � p�nx!/ d 1w
,d, dyin at OWWd
ppdOOnW 6rld rano
M1� "
0
IN
KENNEDY at GRAVEN
amend
200 South SUO Sum Sulu 470
Mmuapo6, MN 5S402
(612)337.9300
September 20, 1995
City of Monticello
PO Box 1147
Monticello, MN 55362-9245
MN190-00021: NAWCO Redevelopment Project
Invoice # 5539
Through August 31, 1995
For All Legal Services As Follows:
0822/95 SJB Phone call with O. Koropchek re H -Window
contract
Total Services:
anpwlwdlw
f 1 M,dw�m
dM/d
r tilt le
d1 0� I
Bltalanw a
Attorney Summary
Stephen Bubul 0.25@ 124.00/hr
Total Services And Disbursements:
0.25 31.00
S 31.00
31.00
S 31.00