Council sets public hearings on Theisen’s development

     The Monticello City Council, during their July 3 meeting, approved several action items on their agenda related to the redevelopment of the former middle school property.

   The proposed draft development agreement was approved between the city and Theisen’s Real Estate LLC. A public hearing was also set on the matter for Monday, Aug. 7, at 6 p.m.

   “This draft agreement doesn’t commit the city to anything,” said City Administrator Russ Farnum.

   At a previous school board meeting, the Monticello school board entered into a purchase agreement with Theisen’s to redevelop the property, following the demolition of the former middle school. Plans call for a 35,000 to 40,000-quare-foot Theisen’s store.

   In order to accomplish this, Theisen’s is seeking TIF incentives from the city. They also need to re-zone the property from “school owned” to C-1 General Commercial.

   Two additional public hearings were also set for Aug. 7 concerning an amendment to the city’s Urban Renewal Plan to include the Theisen’s project and the re-zoning request.

   This entire project could cost between $3 and $4 million. The new Theisen’s store would also almost double their current employment.

   Theisen’s is also looking to sell their six properties located in downtown Monticello.

   The draft development agreement notes that the city would reimburse Theisen’s for the asbestos abatement, to the tune of about $170,000. The city would also provide a 10-year tax abatement at 100 percent, a cost of about $580,000.

   Further, the agreement states that the city would agree to purchase the old Family Food property at the assessed value if Theisen’s is unable to sell it themselves. Farnum said the building would be a benefit to the city for Public Works and Parks & Rec storage in the downtown vicinity, as well as additional parking.

   “This is a ‘backstop’ provision, as Theisen’s already has multiple parties interested in their properties,” Farnum stipulated.

   Once the new Theisen’s is built, Council member Scott Brighton asked where the storm water run-off would go.

   “Will it all eventually go to Riverside?” he asked.

   “The storm water drainage will not change a lot,” Farnum said.