EDA Minutes 11-14-2018 (Workshop Meeting)MINUTES
WORKSHOP MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, November 14th, 2018 — 5:30 p.m.
Mississippi Room, Monticello Community Center
Commissioners Present: Steve Johnson, Bill Tapper, Jon Morphew Tracy Hinz, 011ie
Koropchak-White, Lloyd Hilgart, and Jim Davidson
Staff Present: Angela Schumann and Jim Thares
1. Call to Order
Steve Johnson called the workshop meeting of the Economic Development Authority
(EDA) to order at 5:30 p.m.
2. Roll Call
3. Discussion — Housing Programs
Jim Thares stated that staff had met with Central Minnesota Housing Partnership
(CMHP) last week to see if Monticello would be a candidate for state grant program
funds (e.g. Community Development Block Grant Program).
He mentioned that the EDA previously authorized funding of a windshield survey that
CMHP had assisted with that determined housing in need of repairs. A map was provided
locating these properties and the amount of repairs needed.
Thares asked for the EDA's guidance on determining if a program should be started. It
was noted that if the City decided to move forward with a program, the funds would only
be able to be used for owner -occupied housing.
4. CMHP Involvement
CMHP would prepare a grant application for submittal to MN -DEED and be able to
administer the rehab program also if the grant is approved. The EDA could use some of
its own funds to further extend the reach of the objectives or take the rehab activities
further than is typically allowed with CDBG funds. The primary activities with CDBG
dollars is to address deficiencies in the building envelope such as roof, siding, windows,
doors and energy efficiency such as insulation, new HVAC systems, etc. Items such as
room additions or new flooring or interior wall board are not eligible.
5. Federal Low -Income Housing Tax Credit (LIHTC) Program; CMHP Interest;
Potential Sites
Jim Thares noted that CMHP is interested in pursuing a LIHTC (Low Income Housing
Tax Credit) project in Monticello. Thares said they typically like to fund apartments or
row townhomes of 30-36 or more units. Thares reviewed information about two potential
sites; one suitable for townhomes being along Elm Street and a second site at 4th Street
Economic Development Authority Workshop Minutes — November 14, 2018 Page 112
and Palm Street where an apartment development could fit. CMHP would complete the
application and submit it to MN HFA by the June 2019 deadline. The applications are
highly competitive. The developer -applicant usually asks for assistance such as TIF or
fee reductions from the City -EDA to demonstrate to applicant reviewers that the local
community is supportive of the proposed application and project. The more assistance
the higher the scores are for the applications.
The EDA asked for further information on the amount of money available to determine
the amount they would like to put forward for the rehabilitation program and/or the
federal tax credit. In addition, staff and the EDA would benefit from putting together a
list of questions to provide to CMHP to discuss at a future meeting. Staff confirmed that
they will start the list and bring back to the EDA for further input
6. Other
7. Adjournment
OLLIE KOROPCHAK-WHITE MOVED TO ADJOURN THE MEETING AT 5:58
P.M. MOTION CARRIED, 7-0.
Recorder: Jacob Thunander
Approved: December 12, 201
Attest: Q U
Jii� Tf cares, Economic Development Director
Economic Development Authority Workshop Minutes — November 14, 2018 Page 2 ( 2