this conference will now be recorded you're so fast okay all in favor i oppose motion's passed monthly financial report and accounts payable that's just a couple checks on there pretty typical kimber said "I asked her
if I need to pass anything along." Nope i did notice Kurt has not put through the checks for the EDA you know what kim was working okay i we had I brought it up last month or two months ago yes yeah kim actually
mentioned that i think she was working on those okay i can run and ask her a quick question n just I'll make a motion to approve the accounts payable second all in favor i
opposed motion's passed no public hearings old business 2025 visitor guide final he just dropped this off today he just dropped the flashlight off of the whole thing wants it reviewed but we're like I don't know that we're going to sit here
all night and review the whole thing but I just want to see the front cover because this didn't print very well hopefully that's not representative the email looked better did it okay and he emailed it to us oh good so you got the email he just emailed the cover
though oh my gosh try just sit unlock and see what I do more options right there oh yeah just like you yeah yeah oh no it doesn't look any better
i think that's a no supposed to be like not a real photo like a painting well I mean it's up it's still terrible i don't like it it's kind of like it's stylized though like looks like the paint needs painting yeah
I bet i bet it is supposed to be a painting or look like a painting it's not probably the best for the front cover he just ask i don't think I'd walk across that you don't like
It's not a picture it's a It's a picture picture not not a picture that looks like a painting no no okay I can pass that along and then if you've got it emailed in then if you see any changes get back
to Pete yeah staff can probably go through that no he just he just shot the picture of the front yeah i don't think anything else really any of our pages changed [Music]
those kids oh wait all the pictures look a little goofy yeah looked fuzzy but the colors look funny like look at all the the reds look like they're it's enhanced microsoft painter painted them and then the rest
so I'm just going to give them a general blurry we need a different blurry different picture for the front cover and all the other pictures should be clear not abstract yeah the colors do weird things those look really
saturated anyway basically it's now we'll look at the dates and things on for different city stuff what's on the back can you put that over is that it yep unless it's just a Is it or is it
just a white page it's probably the inside of the back the back cover is probably something yeah you're right yeah I'll ask about the fuzziness okay good that's what we got okay no vote on that we'll just leave
that as is correct n I don't think there's anything to vote on right vote voted printed so they can just fix it okay blue Water Farms was it looking at Redwing yep
i thought Kurt said last time they had an operation in in Wisconsin that's not what I Okay because they had given Kurt some information i think he gave us that too the only thing they had they were building they were trying to grow some stuff in River Falls just on lab scale
but they hadn't done anything developed so I think there needs to be a lot more information okay yeah and it looks like we passed along land that might work for them so it's up to them anyway to Yeah
okay new business do you want us to start with D then if if you want to we won't have to keep keep around yep yeah we'll start with D tiff resolution Keller Bartland uh
Brian access to share my screen so I can go through the presentation well I was planning on being there in person but then we thought we were going to have snow so uh I ended up doing this virtually but um a little bit of snow on the grass
that's it though all right let me know when you can see my screen we're seeing our screen double basically interesting let's try that again oh now we're getting there now you see
it yep all right perfect so in front of you tonight is a resolution recommending approval and establishment of TIFF district 1-20 um this is a redevelopment tiff district
and so we can go through high level the tiff plan and more than happy to answer questions at the end of this presentation just to give a highle overview of the background back in April of 24 in
partnership with the developer the city applied for some funds through Minnesota housing specifically their workforce housing development program this is geared towards market rate development within greater Minnesota there's a city map requirement
or a local MAP requirement so for every $2 of Minnesota housing state funds the city has to provide $1 as far as the amount in the application that we submitted to Minnesota Housing
the city agreed to match up to 1,750,000 of tax increment financing uh plus waving about $62,700 of SAC and whack sewer access charge and water access charge
fees in October of 2024 the city received 2 point a little over $2.8 $8 million from Minnesota housing uh for a deferred loan which is essentially a a forgivable grant have you at the end of the day for the
project just to explain a little bit about tax incurrent financing wanted to walk through the applicable statute that this is in reference to tax increment financing specifically looks at a city's
ability to capture that increased property tax revenue from new development within a a defined area for a specific period of time without the need to get um other jurisdictional approval from the county and the school
district so we're not necessarily looking at the base value the property that out there today that's still going to flow to the local taxing jurisdictions you're still going to get the tax revenue that is currently being levied upon that property what we're
specifically looking at is that new development that would not but for this assistance move forward in the foreseeable future to demonstrate this a little bit further um on the screen is uh TIFF building blocks so that blue box
is essentially your base tax capacity your base property taxes that the city the county and the school district are still getting from the three parcels that are proposed to be in the tip district will mention Oh yeah um we're seeing the little slides on the left and
then the big screen is still on the front page really well this is upsetting you can see it now not in presentation mode weird
well you know if you don't mind I'll just do it here because you're able to see it i can zoom in more yeah I guess as long as it moves plus you can zoom out zoom out a little bit oh that's better
sorry about that thank you for letting me know um so that blue box is the the property taxes that are currently essentially being levied on the property uh as is today so you're going to be getting the
city the county and the school district are still going to be getting your share of the property taxes that are currently being levied on those properties what we're looking at is that purple box above the new value from this development moving forward that's going to capture tax capacity that's going to
te capture tax increment to provide a portion of that to the developer as far as a reimbursement or incentive to help them with the cash flow they need a reasonable return on investment i will mention that one of the parcels is currently tax exempt by
way of state statute that parcel is going to become taxable once it is acquired by the developer so you are currently not receiving any property taxes from that tax exempt parcel but once it transfers to a taxable piece of
property that will now be in included in the base so your taxes that you would receive will slightly increase i did want to make that [Music] clear as far as the tiff district 1-20
in front of you the tiff plan lays out the statement of objectives it lays out our uh estimation of the amount of tax increment that's going to be generated um we worked with the county assessor to determine what that estimated market
value is to appropriately size you know over 26 years how much tax increment theoretically could be generated now this is over time um certainly we're not giving the developer an upfront incentive here it's pay as
you go so if the development is constructed if it generates the amount of tax revenue that we're anticipating they're going to get a percentage of that it's not a fixed amount it's based on a percentage as far as the TIF plan it lays out like I said the statement of
objectives it lays out the TIFF authority what authority does the city have to create this type of TIF district what is the type of TIF district and do you meet the requirements establish it tiff 1-20 will be a redevelopment tiff
district and so there's two requirements that were essentially required to meet the first one is the coverage test which 70% of the parcels have to be covered by some improvement whether it's a building
a parking lot a gravel parking lot utilities etc the second one is a substandard requirement specifically with the buildings more than 50% of the buildings have to be substandard to require like substantial renovation
essentially how I look at it is you're comparing the building that is out there today to current building code and depending upon the cost to bring that current building up to building code if and you compare that against a new
building of the same structure same square footage built in today's market if the improvement cost to bring it up to current day um for the current code is um greater than 15% of that new value
that new um building that you would construct that's when we say it's a blighted building it doesn't necessarily mean it's hazardous or harm to the general health and welfare of the public it's just a requirement in statute to say this is a substandard building
because of the amount of work that needs to go into it to bring it up to current building code a tiff district like this specifically redevelopment the maximum term length is 26 years now certainly you don't have to give the full 26 years
to any developer um because the tiff plan is essentially the the mechanism to be able to provide assistance it's not the means of providing assistance what I mean by that is approving the tiff district doesn't give any agreement
doesn't create an obligation for the city to provide an incentive to provide tax increment to a developer that will come later uh with a development agreement uh that will be considered in April if I'm not mistaken so really the
tiff plan looks at it's a budget maximum so we're looking at everything in maximum amounts even though you know some things may happen some things might not happen over that 26-year period we just don't have a crystal ball so it's it's an estimate being conservative at
the same time we also identify where the tiff district is going to be within the city uh because a tiff district has to be created within a project area your project area is that red boundary and
it's most likely co-terminus with the city boundaries the tiff district is going to be located just off the intersection of 58 and 60 not all property taxes are included in tax income what's being generated from
that new development so on the screen we have a a box of what is exclusive what are the tax finance well we exclude the base value but we also exclude the market value taxes those are referendum voter approved taxes like the school
district for their operating referendum that is not included in tax increment so this property this development would still pay those we're looking at um other taxes unrelated to that market referendum specifically looking at just
like the city the county and the school district of property taxes so those two items for residential development are included if we're talking about a commercial development we would be excluding the statewide taxes and most likely the fiscal disparities um in this
case it's a residential development so really we're looking at the market value taxes and the base value tax so you have total property taxes being paid is 102,000 once the project is constructed
and lease up and fully occupied your annual gross tiff that we're projecting to be able to generated off that new development is 80,632 so a portion of that will essentially be going to the developer uh should the
development agreement be approved as far as the sources and uses that are contained within the tiff plan again these are maximum amounts the tax increment being generated for the sources is a future value over 26 years that's the amount
less the state auditor fee that they're going to retain from the tax increment there's also an interest component to the sources because we're assuming that there's going to be some level of fund balance that the city is going to hold over that time frame and they may be able to generate interest off of that
fund balance so that's why we factored in an amount appropriate for that as far as the uses we lay it out with um what we anticipate the development going to entail you have the land and building acquisition we're
constructing i realize it calls out affordable housing this is workforce housing but it's for workforce housing and then you also have administrative costs uh up to 10% that we can charge to this tiff district so the developer is not going to be getting 100% of this tax
increment the city has the ability to retain up to 10% of that tax increment for administrative costs for the ongoing reporting that's required to the state and so forth as far as the process that we went through to get here um we had to send
out se several notices to the county commissioner we had to send out a notice for fiscal impacts to the county and the school district and we had provided the the tiff plan at least the draft of the tiff plan with their estimated fiscal impacts
we did publish the notice of public hearing for the city council meeting tomorrow tonight is that EDA consideration for recommending of the TIFF district for approval and then tomorrow is when the city council will
hold the public hearing and so I will be in the city tomorrow for that public hearing to go over a presentation similar to this as far as next steps city council consideration is tomorrow the city and developer are still finalizing that TIFF
agreement and that will be brought back most likely in April sometime the date is um not yet confirmed but we're anticipating that that will be agreed upon and brought forward in April
so with that um I can turn it back over to the president and I can answer any questions that the president or commissioners may have for me of the tip plan hey Miranda leave us back
so I guess just in general general question that I had is how many tiffs are too many tiffs for a city to take on yeah that's that's a great question um the the benchmark that we typically look
at is what percent of the total tax capacity is contained within tiff districts um most communities within the metro are below 10% a lot of them are even below 3% of their total tax
capacity being in tiff districts um with this one we certainly would not even be over two or 3% i don't have the specific number in front of me um but certainly there there is a a point in time where
too many tiff districts can hinder your ability to generate the future tax base growth to spread diversify the the tax base but in this case with um just having a few tiff districts active at
one time it wouldn't impact your ability to you know have enough resources from property tax because it is a scarce resource for cities to pay for your operating expenses to pay for your capital improvement needs and so forth we do go through in the tiff plan to
understand what are the fiscal impacts of creating this tiff district so we send those fiscal impacts out to the city we send the fiscal impacts out to the county but we also review uh departmentally at the city what might
come from this tiff district so we work with the fire department we work with the police department to understand what might be capital needs of the city with this tiff district and with this development moving forward um and we didn't um anticipate any additional cost
burdens from constructing this apartment building that um the city doesn't already have the ability to uh take on and I think Keith where that question comes from I gave them a list of past TIFF districts there's a couple
that are still active uh well one for sure the other Keller Bartman building but Midwest Livestock maybe so we really only have these are most of these are all done correct most of them are done so yeah so maybe our other Keller Bartman one is also 20 plus years that's
a 26 year as well yep and Midwest livestock was how many years so I just didn't know like I mean we got to look over time too obviously we want this project to come through but if we're going to do you know like it's a length of time like in 26 years we have to look
like okay are we going to hit that capacity of I mean we're at 3% now with TIFF directors but if we have more potential for building like these are extremely long-term TIFF districts so just trying
to look at an an entire picture of Yeah we only have two right now but in 25 years I don't know i don't I hope we have more than two yeah that was a great question but I hope everything else is growing around it um so that's great
that's something that always keeps an eye on or helps us with as well when we go to them and say "Okay what what assistance can we provide to bring an apartment building in or whatever it might be?" Then they'll look and see what we've got
and do the whole study mhm so the the taxes that are are for 26 years that are not received uh the incremental difference in value I guess um that's just taxes that are just not
paid and that's the benefit to the developer um great question they're actually taxes that are paid it's just reimbursed back to the developer uh based on the property tax system so they will still
pay their property taxes in May they'll still pay their property taxes their second half in October it's just once the county collects process it sends it to the city for its first half and second half settlement you wouldn't make payment to the developer until August
and February and the portion that we pay them the rest of it stays with the city correct plus a interest or earn like Yeah plus a a fee for the book work the uh
administrative fee administrative fee yes couldn't couldn't say the word but yeah this is the first step to have the EDA we did talk about this like you said last fall um and uh have EDA give
the go-ahhead for the tiff as a tool uh again this is does not obligate us at this point the obligation comes when we finish the plan which is still being negotiated uh there's some things in there we still need to talk about so um this is just putting in place
awesome thank you just out of curiosity going back to the previous question not not about the money but uh the long-term impact is there any analysis that was done about how much more the city could take on you say it's going to be less
than 3% no yeah I mean we can definitely look at long range capital improvement plans financial modeling to understand what might happen in the future um but I
guess keep keep in mind that when you create a new tiff district you might have one that's descertifying so the value that you were deferring for that tiff district it comes online um I mean you're trying to set yourself up for future growth and diversification of
your tax base we certainly can take a look at that with two tiff districts I I Yeah I I know for a fact that you're going to be well below uh that 3% for your total tax capacity within tiff districts but we also look at a
development specifically like this when a developer is asking for public assistance with multifamily we don't want to unduly enrich them we want to make sure that the public assistance that they're asking for is truly warranted and
supported so going above further the just the butt for test that's in state statute we take a look at the developers uh budget their sources and uses we take a look at their operating perform and compare them against general industry standards in the current market within
the city to understand how much rent can they actually charge what are their operating expenses going to be like but at the end of the day what is their return on investment that's what we want to know because we don't want to unduly enrich them with public dollars that's the most important part here um so with
this TIFF district it was justified to support um TIFF assistance to this developer but as far as the amount that would come later once the development agreement is um finalized negotiated and brought
forward so that was a long explanation i apologize about that but um you need you do need to take a holistic approach to it i would think it'd be logical we might assume if the veterary clinic wants
to build there would be another request could be a request could be an abatement um you know we rely on Ellers again to help us with what's the best tool for the the type of development um you know and these housing ones are 26 years the other ones are not okay they're they're a lot shorter term so that's when he
says they come off they're coming off a little quicker um which does free up the the space but but housing also will be very beneficial in 26 years 24 years for that one uh the tax base is going to
going to leave the city better than when we found it basically as far as the tax base goes okay so yeah we'll need we'll need the motion and second and all that so we are we are motioning for the tiff
district or we're motioning for a specific this resolution that's the resolution okay i'll make that motion to approve the TIFF resolution for color bargain i will second it
all in favor i oppose motions pass thank you don't let me forget to have you guys sign okay we will bounce back to a hotel study
yes hotel so was Bob me and Bob bob was there and so was Brian Hogan but he's not here brian Hogan as well well maybe you want to talk about Do you want to talk about that okay so we had a we're invited to a meeting on March 4th at Mosaic Quarters um
um to talk about investments in Zambroa be right back i got to see a little bit so we basically met with what was it rea rebound company out of the Northfield they do a lot of big
developments in Northfield and uh Fairbolt they're all over the state now yeah they've done a apartments oh yeah apartments uh hotels uh shopping centers um you got to kind of give the shout out to Todd Fitzgiven because he's the one
that kind of him and I talked about it and Monourir even before this meeting so uh Todd put that together and uh they're requesting before we can move forward we our latest our last uh hotel study was
in 2017 so basically they would like to get a hotel study to see can we get a hotel is it do we have all the criteria for that um the last one how do you say that we didn't need
one no we said we could use one like like a smaller one like a centerstoneone plaza like a 5060 that's why they threw that one in there i remember it being a no i thought it was totally a no do we have that study i have a quote in here kurt Kurt gave you
what it said i believe that the midscale the upper midscale franchise hotel approximately 50 rooms can be market justified in Sabrona market that to somebody yeah I guess we did re with Munera uh in the long-term
planning she actually spearheaded um trying to get this going we didn't bring it I don't think um because of the cost we were hoping to get this one updated at a little less cost well this company doesn't do it anymore but the person that did it recommended one of these
companies in here um but so right now what we've got is this rebound group and they're raring to go and and help us set up a fund is that the right word Bob well yeah what they what they do is they
invest but they also get local investors to build a fund to do whatever projects the community decides to do so the group that got together was really looking at what does
the road need one of the things was a motel motel I guess whatever it would be called the other thing was a possible restaurant that would be open in the evenings downtown um you know and I think I think the group is somewhere
well I think the downtown was kind of the focus at that point we've got the covered bridge out outside of town a little bit yeah and we actually have a hotel out there too but uh so the the idea was to
what does the voter need and that discussion is still going on and I think the the group didn't give Todd credit he's got a lot of energy he's got videos out he's promoting uh bringing people to
Zambroa it's almost something that we should be doing as an EDA yes but he's doing it um so he's got this group together and um and he and he's they're having another meeting scheduled already and they're looking at just bringing
more and more people into it I think and getting more ideas but the mot the hotel or motel I don't know if it's a hotel motel six hotel that study and nobody stays
at recommended Um yeah so I think my I can let you talk i just my question is why are they not here asking for the study the whole group well just like it says there's a need for a new hotel study so
yeah so the rebound group kind of facilitates they said we're here to help or not uh they were just part of getting this meeting put together and then offering assistance they've done these funds in in a few different communities um and they have a lot of what the fund
is is they invest and then local investors or local people can invest in this fund with the promise of a return um you know they they what did they say they were returning 8% or they they they look for Yeah 8 to 12 but they're they
close it out after about just a few years five to seven years I remember but people come out pretty well i think they promise four and a half% return on your money if you if you put money into this account so basically it's another another account it's another account that would help the community with
things where you know the EDA helps with the gap right and there's a limited amount of money this fund would be part of that and but but more so you know big chunks of money and big big part of bringing businesses in and then they
structure whatever the terms are to to get a return for their investment it's community developers like that well they are a developer they do a little bit of everything they're a community it's communitydriven they want the community to drive it so what they like to do the Rebound likes to do is they like to come
into communities like ours that have this great potential and not just work on one project but what two three four projects could we get involved in to really develop the community and and they might buy a building yeah they could do something themselves we don't
know but rebound or our investors rebound the investors both oh it would be but you know it isn't it isn't up to them necessarily to come and say um to request this this is if the
community feels like we should do the study if that's part of the long-term plan of developing Sroa and bringing in a hotel it's the community that should be putting forth the study because what I think I heard him say is if a hotel decides to come they're probably going
to do their own study too they're not just going to take our word for it but that's up to them our 2017 study is outdated right we heard loud and clear from the whole group was get a hotel study going there's no no question yes
and as part of being part of the city of being Brian and I being at that meeting that is something as a city that I feel we feel that is necessary to help promote this even if it's not with this rebound group it could be with somebody else at least we have that study done
but we were going down that route with miner and we just never got it finished but $15,000 um we can get a $5,000 grant from comp here so that's 10,000 and Brian Hogan not this Brian Hogan but Brian Hogan from Landros said he would be willing to
put some money towards that because he wants to be able to bring clients into town and have them have a nice place to stay so he'd be willing to put some money in i don't know how much but what we're looking for tonight is a commitment that go ahead with the
study and budget budget is somewhere kim says So I think my question is like we're going to spend $15,000 because this this group of people says
we need to have this done um but there's no promise of a hotel coming so at some point we have a we have a study that's eight years outdated yeah and we're either going to come and ask you for a study now or in not too long from
now but that's why I'm saying like why so like on here it says the EDA was invited to a meeting i slightly disagree with that yeah yeah but why aren't they coming here to ask for a hotel study to request it we were invited as a city and I invited Kurt
because he's you know community development director right but he didn't go uh no he went he went there yep he was He wasn't listed on here i'm sorry yep well he listed I think he listed himself as EA so that's where EDA was involved sure um
but we need to do a hotel study we've known we need to mer has had the paperwork rolling and that's some of this stuff um we just never brought it hotel is a little more
hospitality study the group that does that or we said seven years ago we did it September 6 2017 is doing this global the HBS global hospitality this
is the one that was recommended which one the HBS HBS by the previous company that did ours and so we could get it down to that 9 9,000 and then maybe most of that's covered and then the EDA is only coming up with 4,000
14,000 or has several stages that cost less than 9 to 10,000 you want the you want the 14,000 what yeah that's I guess with Tina what's the difference between the 9,000 and the 14,000
What are what are we getting different stages it says Oh it was 13 2017 through that company so whatever that company gave us is it just so back to that is it just a hotel study or is
it a hospitality industry study like it's going to study the need for restaurants and gas station on the other side and hotels at least this one I'm sure they'll do studies on other $10,000 that's Yeah exactly this
stuff is not cheap but we can roll it down to under $10,000 and I think I think just to be clear this you know rebound did not request this this was the group that was there suggesting that the city should consider
doing this study so we can move forward so we could move forward yeah it's bring in developers yeah and I think part of our objective is how do we drive economic development we can't drive it if we don't know what the hell
we're driving so we need studies sometimes to do it and uh I don't know why I'm okay with it you can flip the coin what's more important prefer this one doesn't sit on the shelf um you can authorize up to the $15,000
and we will whittle it down as low as we can get with the grant and whoever else might want to contribute from the group yeah and I guess just going to contribute if the EDA is already paid for it in full like it's funded but if you want to throw some
money at it like or do you mean or do you mean the investment fund that they're going to create with no we got that's a different from landross told me that I will pay for part of if I need to i don't need to tell how much for sure we
get a couple thousand from him we get 5,000 grant it's 8,000 $10,000 oh the money's in there and it's what we think we need to do what account what account is that money coming out of
see if Kim will text me back kurt's got this information um should be prepared i can't remember what we ask Kim i don't know if it was the sales tax fund or if we have some loans coming
[Music] due i you know I think I would uh I would move forward with it for up to 15,000 and get as much funding for it as we can to get that cost down the actual cost so that would be my motion and the
reason for that is that there's some energy out there that we have not had for some time and that should be you know supported by us I feel because you don't one thing leads to another it's if you can get a hotel now you get other
things coming um and maybe we won't get a hotel but it might lead to other projects because this the people that are getting excited about it out there and plus this rebound group they're nothing to shake a stick
at they could make some things happen so that's I would move that we proceed with a hotel study for up to 15,000 trying to get grant money to get that cost down as low as we can um to you know make the
net effect um less than 15 of course do you have any question at all about where the money is coming from cuz it's not it's not a budgeted like we haven't said hey we have 15,000 budgeted for a hotel study this year so do we have to do our due diligence just to make sure that we
know where the money is coming from did you call Kim or is it okay to just Well what are all these funds sitting there for what are we using it for that's a wonderful question i mean we got all this money sitting here and we're not doing anything so Well yeah
you've been doing more with it you've been doing more with it recently kim has said that there's funding available yes I can't remember hey a quick question for you we're in EDA meeting we're wondering or asking where the money
would come from for the hotel study loan account and they loan that money to the vet clinic so basically they had extra money in their account and that money has been being paid back and it doesn't really it isn't really tagged for any purpose so
if they voted to pay for the hotel study they could take it out of their fund balance what you're on speaker now can you just say that one more time what account you got well you take it as a you take it as a contingency out of their fund balance because they have money that has been
paid back over time on loans uh the loan we made to the vet clinic which was $70,000 they've been paying that over a period of 10 years so they've been that back every year so I think we're about in I think we're about in year six so okay is that just our 403 money would be
available is that our 403 it would be out of 403 yes okay thank you perfect that's all we needed thanks Kim yep but [Music] approve up to 15 with the idea of hopefully to get it to
about eight with a 5,000 grant and then a 2,000 from my Kogan but my opinion is it's something we need to do if this group doesn't work out but at least we have it out in well we stand cuz this rebound group said there's basically three tiers of hotels out there that would that come into towns and I can't
remember like the Hilton's and then it's like uh the Holiday Ends and then the Stone Bridge is the kind of the three levels that they have and that'll and Stonebridge I think will do a 5060 um door hotel if that's what this town
warrants versus a bigger step one or step two or level cobblestone is maybe cobblestone yeah is that the Is that the one that's got the twig in it i saw that's cobblestone yeah so like back to Tina's question then how do you prevent
it from sitting on a shelf like this one did eight years ago we have a dedicated economic we have a dedicated EDA person now okay that that's my answer for that that it'll be a priority um well we're
still setting priorities too january we're here that's we're gonna go with it be like "Hey remember this?" And the rebound guy that we talked to was it Brett brett yeah um he said "We have the traffic counts which is huge just because of the main art which we know
and we have a big nucleus." And he also said "We brought up the Beller Cartman building." He said "That's huge for a town to have another apartment complex downtown more than what we already have." So he said right there are some big pluses on the city of Zumbroa um so
it's I think it's if it doesn't work out here we will have some movers and shakers in other areas that hopefully we can run with it that was just like Bob said they're motivated there a bunch of them motivated right now which we can ride that wave and keep them motivated
and this is our part to start okay it's authorized we're going they're not talking just hotels they're talking restaurants they're talking whatever you know when Con Church was brought up as you know what could that be used for you know they're not just looking at brewery
i told you great craft brew home that'd be a great craft brewery there you go and when we're talking about the motivated people we talking about people from our community or this Rebound combination okay rebound rebound I know for a fact has been here and looked at
another facility i know from a year ago already they were talking and uh looking at a restaurant type of possibility but I think just one thing led to another and then they somehow Todd knew them and invited them i think he's a friend with
somebody or a relative or something so it's it's you know and other people should we the EDA should be at those meetings um in my opinion um EDA meeting because otherwise we would well otherwise more than two of us can't be
in attendance together of you for sure representative well there was a representative I was there so was Brian was there as well so was the mayor so was that's true but it's but it's a group of citizens why are we legal and
They didn't sit by each other the more citizens of the better off we are yes oh at the EDA on the thing so do they come out or anybody can answer but do they come then back to some broad and say "Hey we're here and we're actively looking for investors is that Yeah they
would help and I don't I don't know but they're all they're all about being communitydriven." Just me Bob so they would help so the the difference maybe between the study and 17 and this study is who is back there motivated to do
anything at that time I don't know any group that's motivated they got somebody that could actually steer the ship or help steer the ship and I think it's worth and rebound puts the initial amount of money in to get the fund started but
don't yeah they do as much as we would ask them to do but we don't have a quorum they're there facilitate they can be more involved or less involved but they will put the initial amount as I recall can't remember what the amount was that they would put in kind of seed money to get the thing right
and of course they're in it for an investment would be in this one so we have to make we have seven years the quorum would be four i mean that's the way I look at it that's why I think council it's
42 is three investment and help grow your community yeah I think it would be it would be helpful i would get off topic but I think it would be helpful to have them give that presentation to this group yes
but maybe they're just a an agenda item every month for an update of what's going on so we don't lose or like you said invite them here so that the EDA can hear about it yeah sure at least you understand we're the ones who have to get behind them like it'd be nice to hear that presentation like you want
something from us let's let's hear it so that we all can be on the same page and all have that same fire that Bob has because I didn't hear the presentation so I just hear I've heard so and so wants a hotel a lot of reports and uh in Northfield what they've been doing there
uh they the archer building that burned down they're going to rebuild that or not rebuild it but build something there they put two restaurants in in one in Northfield called Redemption I think and Reunion they're the ones that they built
that group they're working in Fairbowl they're working all over southeast Minnesota now they're way up north they're doing a hotel up there red Lake Falls they have something going up there yeah so they were they my I've heard about them for quite a while but my
impression and listening to them on the radio and everything is they really u want the communities to do well it's not you know if if we do well they'll do well so so there I was going to say there's a motion and a second all in favor i
opposed motion passed on to B the billboard a whole bunch of extra weeks or months on that thing it's gone now yeah I heard it's gone it is gone but the questions out
there you want to do it again do we have any way to measure that's the problem yeah just don't no other than right in the middle of Cannon Falls I caught a whole bunch of grief from Neil on that sure
recommend renewing just for that just for that longer there though should we put one in we had one on the north side that you see coming into Zambroa from the north do we try one coming south has a market
down there in Pine Island i think that they can give up one of those that's funny stripper billboards and for the city like every time I like dad was like so mom I'd be interested go away buddy
look away coming from the south okay try that but if there's one available at a decent rate and it's got to be from the north from Rochester Rochester yes driving north see it driving north
so confusing I don't know how you judge it but I don't I Well I think we tried it one way tried it the other way in the summer were we in the summer last time or were we closer to the fall i think it was summer middle of summer they design a new one
or is it the same one is there a design fee though because if there's a design fee and we just keep the same one going the other direction is anything available from coming
north right in the middle of island cost yeah can you negotiate that okay wherever it ends up being okay look at that get that information and bring it for the next one any more discussion on that the other thing I think we should pursue or look at is how
do we market ourselves because at Mayo Clinic there's a lot of people that come up from Mayo Clinic they go there for visits they come up here to shop they hear about the stores here through the little booklets that they read down there so I think it's
um I think that angle needs to be pursued it might be a counter to spending the money on a billboard spend it on something like that maybe we get a few more of these booklets and set them down the mail clinic area or something
oh I think some go down that way for sure but you know maybe it's more like a Thursdays on first when they have that and you know is there a um I know that they have a visitor guide booth in our area so we can make sure we're there or are there maybe it's more of a working
with um the downtown businesses to say "Hey do we want to have a group presence at Thursdays on first?" You know it's a commitment it's every Thursday for the duration of the summer and it just rotates through i mean you could take you know flowers down there one week or somebody could take you know shoes down
there or whatever and then promote the city and the businesses and kind of make it more of a Have we ever brought in a group that a marketing group to advise us what is the most effective use of our time and energy
to market we did that at that lady it was a lady it was through CEDA correct yeah it was through Ceda yes yes if you come up with good ideas sitting
on the shelf too probably find it in there that was four or five years ago longer than that it's okay i don't remember it so it might be before my time i was here when that person came
i've been here for not five years yet so you didn't get I don't remember why or what they're well marketing um professional so CDA has definitely resources yep
they feel like we did something else that was more along the hotel study avenue i thought so too no other discussion on that we will move on to C date change June meeting so June
19th or Juneth is on a Thursday which is on council so I've proposed to move council to the 18th and then move would like to move the ED EDA to the 25th instead of the
18th just if we move our council upper then we'd have council back to back and then have a 3-week gap so that's why I would like to move council from the 19th to the 18th on Wednesday which is an EDA meeting and move EDA to the 25th
we're into June do we want to move EDA earlier in June to later to the 25th of June but would you rather Oh we can do we could do it to 11th if we wanted to i just with council being back to back and then a three-w weekek gap it's just I'm just
thinking if there's if there's things that are happening that we need to do maybe impacts the city council more for developers agreement if not that's coming back i mean it don't matter between May and June there's action
items that we have to take care of because July would be the 16th then too if we I mean if we just moved it to the 25th so we still it I it don't matter we can move it to the 11th or the 25th i would just like to move council to the 18th make zero difference to me yeah I'm
It'll make all the difference to you cuz I will not be here in June or July vice you you're not taking off the month i got softball on Wednesdays nice good for my kiddos i will not be here so three of them jake and I can only go two
spots some video it would be coming up like yeah I mean who knows I mean it's Wednesday what happens between I mean if we have a hearing where we get rebound in here to talk where ours could go an
hour 15 an hour and a half I'd hate to shut them down i say let's go the week before because then if we have an action that we need to recommend to the council the council will still be able to take action on that before their next meeting so let's move we'll move the EDA to June 11th
wednesday June 11th i'll make that motion i'll second all in favor i opposed motion passed okay and last is reports update on Katie Apartments return to
Keith in 2024 the city had approximately 1.47% 47% of its tax capacity in 2024 how much 1.4 okay 1 point 1.47 excuse me seven%
no we need to capture we need to We need that extra space seriously okay it all counts um Keller Bartman um we're just working on on site plan things uh we had a
conversation today about the alley and some things back there in all likelihood most of that alley will be repaved all the way over into um the neighboring properties uh based on some drainage and things like that so there's going to be
a plus in my book for you know the whole alley is going to be pretty nice um they might have to do something with the grade of the alley a little bit um it still needs to be a oneway going up to
third unless they can talk the county out of that um that's why they have to do a few things with the grade to lower the uh lower the slope of the hill up there which in turn will do some things with the retaining wall and some paving and but it is all working out pretty
well as far as our engineer is concerned yeah it looks like it should work um so they're still working on that other than that we are working on the develop the local developers agreement and then also the TIFF developers agreement and he hadn't read it until just the other day
so so we couldn't move it forward yet because he'll have some questions um he's got the same kind of a building going on down in Wabasha with a separate uh financial
less conservative financial um advisor and so they tend to give more stuff down there than we do here our financial adviser is very careful and advises us that's why to get them to agree to the butt four that they they need this money
that's saying something from elders um so there's going to be some rub there because they'll have some things in that one down there that they won't get here and so we're going to have to work through some of those things um and then yeah just the local developer stuff
where parking and the the agreement to turn over a piece of our land in exchange for never and in writing to never designate those spots in that alley that they'll always be available for anybody to park in and we'll have to
come up with an agreement on plowing and how they handled plowing back there all that little stuff um and that'll be back would it would it get too complicated on that land issue and the parking if uh you traded um traded the ownership of
that those little parcels so their ownership goes right along their building like it does on the west side yeah i mean the little patio area is the part of the question right but then they have the parking up near
um second They own that i wish all mine are up but you can get it in right here go make money it's in the developers has some accounts in Rochester yeah they
got a little much okay a bunch of stuff on that so more to come the the just to get the tiff tool in place that's this next step we thought about holding that off too but no let's just get it we had already advertised it and everything so get done
so we'll get that done then we can follow up we won't need a public hearing for the developers agreements um so we won't have to readvertise and wait so we can run that to the next closest council meeting once they have it so that's kind of what I
know now but it's shaping up to be a really nice site maybe a little more green space around it than we thought cool more to come keep the grocery store in business meeting is ajourned please okay