FOUNDATIONS JUNE - JULY

JUNE - JULY 2021

September November December October August June July 2021 2021 2021 2021 2021 2021

ROCHESTER AREA BUILDERS, INC.

NETWORKING NIGHT HALEY COMFORT SYSTEMS

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BUILDERS, BAGS & BREWS TEAM REGISTRATION OPEN

FASHION SHOW FORMS AVAILABLE

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19

D C

DEVELOPMENT COUNCIL a division of the Rochester Area Builders, Inc.

C OMMERCIAL C B UILDERS

OUNCIL

a division of Rochester Area Builders, Inc.

2 | JUNE - JULY 2021

STAFF EXECUTIVE DIRECTOR John Eischen, John@RochesterAreaBuilders.com STAFF

Online Permit Submission

UPDATE!

Shelly Bahlmann, Shelly@RochesterAreaBuilders.com

Golf Outing, Sporting Clays, Home Show, Directory, Newsletter, RAB Update

Audra Bolduan, Audra@RochesterAreaBuilders.com Builders Exchange Trustees and Showcase Committee, Website

Rebekah Fierst, Rebekah@RochesterAreaBuilders.com

Ambassadors, Awards, Builders, Bags & Brews, Commercial Builders Council,

Community Relations,

Education, Membership, Fashion Show,

Program, Remodelers Council,

Executive & Remodelers Tour, 40 Below

GOVERNMENT & PUBLIC AFFAIRS CONSULTANT

Rick Dold, Rick@GodwinDold.com

BOARD OF DIRECTORS PRESIDENT

Luke Stier, Stier Construction, Inc. VICE PRESIDENT Becky Holmen, Haley Lighting SECRETARY

Jennifer Mitchell, Edina Realty TREASURER

Jesse Buhl, MedCity Consulting PAST PRESIDENT

Alissa Moe, Bremer Bank DIRECTORS

Adam Giannini, Meyer Borgman Johnson Jennifer Lawver, ERH Developing, Inc. Tom Leimer, Knutson Construction Jason Scrimshaw, Kimley-Horn & Associates, Inc. Kevin Reckinger, Bricewood, LLC Charlie Sweeney, Kraus-Anderson Construction Melissa Barbour, TLS Companies, LLC Megan Gallagher, Solar Connection

BUILDERS EXCHANGE COUNCIL CHAIR

Kurt Hoeger, United Rentals

COMMERCIAL BUILDERS COUNCIL CHAIR Jim Oeltjenbruns, F&M Community Bank DEVELOPMENT COUNCIL CHAIR Hal Henderson, HGA Architects & Engineers

When submitting your permit online doing the following will greatly improve your chances of acceptance, speedy processing, and approval.

1. Use your PDF software to optimize your plan before submitting

a.

Optimizing the plan allows the city departments to more effectively process your submittal within the system.

b.

Optimizing the plan will also improve the City’s ability to efficiently review your plans.

2. Only submit one Drawing per permit that includes all building and site plan information

a.

The drawing should include the mechanical and plumbing information.

b.

Any other plan information you submit should be submitted as additional information and not as a drawing.

c.

You are allowed as much information as you need for your submittal, but each submittal should only have one drawing.

d.

Submitting more than one drawing may cause the rejection of your submittal.

e.

In the event your submittal is not rejected with more than one drawing, having more than one drawing results in multiple approvals within each which delays the process and approval of your application.

Use the link below to check the status of permits filed with the City of Rochester Agency Counter: https://rochestermn.agencycounter.com/m/home

REMODELERS COUNCIL CHAIR

Kailee Klevan, Beyond Kitchens 40 BELOW CHAIR Katie Olson, Kimley-Horn & Associates, Inc. NATIONAL LIFE DIRECTORS

Steve Buss, Cornerstone Builders & Real Estate, Inc. NATIONAL DIRECTORS Dana Hlebichuk, Widseth

Levi Kaiser, Benike Construction (Rep) Todd Severson, TLS Companies, LLC STATE DIRECTORS

Mike Allen, Mike Allen Homes, LLC Jean DeWitz, DeWitz Home Builders, Inc. (Rep) Kathy Einck, Maplewood Homes.LLC John McGuine, JM Consulting Dan Severson, Dan Severson Builders, Inc.,

Kenneth Bush, Bush Companies

MISSION STATEMENT The Rochester Area Builders, Inc, chartered in 1953, is a professional organization of commercial & residential builders, remodelers, developers and associated businesses dedicated to advancing the building industry in Southeast Minnesota.

We are the trusted voice of the industry, providing leadership, education, networking, and information resources to our members, community and government officials.

3 | FOUNDATIONS NEWSLTR

7 12

10 UPDATE..............................................................2

Online permit update

RAB CALENDAR...................................................4

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19

SPRING GROVE .................................................14

Request for Proposals

NAHB EYE ON HOUSING.....................................15

July 2021

NAHB Study

2021 CALENDAR..................................................5

ROCHESTER PUBLICWORKS ..............................17

LETTER FROM RAB PRESIDENT............................6

Luke Stier, Stier Construction, 2021 RAB President

NETWORKING NIGHT...........................................7

Haley Comfort Systems

MEMBERSHIP REPORT.........................................8

May 2021

BUILDERS, BAGS & BREWS................................10

Team Registration & Sponsorship Information

RAB GOLF OUTING ............................................11

Recap

FALL SHOWCASE ..............................................12

Registration information

REMODELERS TOUR ..........................................12

Registration information

SHOWCASE/TOUR MAGAZINE ..........................13

Advertising information

Stormwater Demonstration Site Downtown

STUDS, STRUTS & STILETTOS............................19

Design & Sponsor Forms Available

NAHB EYE ON HOUSING.....................................22

Q1 2021 HBG1: Home Building and Commuting

NAHB EYE ON HOUSING.....................................25 Real Estate Market Values Surge in the First Quarter

BUILDING PERMITS...........................................26

Rochester, Byron & Pine Island

OLMSTED BUILDING PERMITS ...........................27

May 2021

SEMR HISTORICAL OVERVIEW............................25 May 2021

4 | JUNE - JULY 2021

July 2021 Sunday

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

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2

3

8

9

10

15

16

17

22

23

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29

30

31

11:30 AM Program Committee $200 Showcase Discount Deadline

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5

6

7 7:30 AM CBC Exec.

7:30 AM CBC & Development Council

12:00 PM Showcase Committee

8:00 AM Remodelers Council Exec.

12:00 PM Government Affairs Committee

11:30 AM Sporting Clays Committee 12:00 PM 40 Below Professional Development

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12 3:30 PM Builders Exchange Board of Trustees

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13 3:00 PM Board Meeting

11:30 AM Fashion Show Committee

20 5:00 PM Remodelers Council Summer Get Together

26 11:30 AM Home Show Committee

7:30 AM Green Building Committee

7:30 AM Membership Committee

4:30 PM 40 Below Executive Committee

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25

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21 12:00 PM Ambassadors Committee

27 4:30 PM Member Appreciation Night

11:30 AM Community Relations Committee

28 3:00 PM Development Services Advisory Committee

$100 Showcase & Remodelers Tour Discount Deadline

MEETINGS ARE NOW BEING HELD IN PERSON UNLESS NOTIFIED DIFFERENTLY BY JOHN

5 | FOUNDATIONS NEWSLTR

JUNE

29 Networking Night @ Haley Comfort Systems

JULY 5 Office Closed for Independence Day

TBD NAHB Mid-Year Board Meeting – TBD

27 Member Appreciation Night @ Mayowood Stone Barn

AUGUST

7 Builders, Bags & Brews @ Olmsted County Fairgrounds

31 Networking Night @ Tulip Tree Studios & Valor Mechanical

SEPTEMBER 6 Office Closed – Labor Day 16 Sporting Clay Shoot 18 Youth Sporting Clay Shoot 18-19 Remodelers Tour

18-19, 25-26 Fall Showcase of Homes 28 General Membership Meeting @ TBD

OCTOBER

14 Studs, Struts & Stilettos @ Mayo Civic Center 26 Networking Night @ Cambria

NOVEMBER TBD Past Presidents Dinner 18 Celebration of Leaders Dinner 25-26 Office Closed – Thanksgiving Holiday

DECEMBER 10 Holiday Party @ The Hilton 23-24 Office Closed – Christmas Holiday

FUTURE DATES International Builders Show February 8-10, 2022 – Orlando, FL RAB Home Show February 11-13, 2022 – Mayo Civic Center

6 | JUNE - JULY 2021

6 | FOUNDATIONS NEWSLTR

FROM THE PRESIDENT We are now midway through the construction season, and most of us are still facing an uncertainty in materials and labor shortages, as well as volatility in material pricing.

Cabinetry and Appliance delays have had a big impact on us here at Stier Construction, and it has been a bit trying at times to keep to our tight schedules. Recent news released that lumber pricing is starting to finally recede and should return to some level of stability, but pre covid pricing and ample supply will not be here any time soon. NAHB has been busy working on ways to solve the lumber crisis over the past year, including asking congress to consider ways to boost lumber supply and increase production. We are fortunate to have them on our side and advocating for a stable and more competitive price on lumber that is currently in such high demand. Being a member of RAB provides the support these organizations need to in turn support us and our builders, and you should be proud to be part of this group.

Speaking of membership, I would like to talk a bit about how getting more involved RAB can maximize your membership benefits. Joining one of the boards or committees is an excellent way for you to contribute your thoughts, as well as connect with fellow members. As for myself, I have learned a ton, as well as made some awesome connections along the way! Our organization relies on active members to volunteer and keep the wheels turning. So, if this is something you may be interested in, please reach out to an existing member or myself to chat.

Golf Outing: A big thank you to all the sponsors of the golf outing. The weather cooperated and we had a great turnout. Eischen paired me up with BAM president Howie Zetah and Builder VP, John McGuine, and we had an awesome day of golf. I am glad I was able to get to know these great guys better.

Team registration is now open for the Builders, Bags and Brews event in August, so get your buddies together and put it on your calendar!

Sponsorships are also available, and you can contact RAB office if interested.

Come join us and celebrate your membership, at our Member Appreciation Night. We will be recognizing our honorary members, as well as introducing the new. Hors d’oeuvres and refreshments will be provided as well as a cash bar.

Hosted beer from LTS thanks to Home Federal! The annual Member Appreciation Night is being held Tuesday, July 27th from 4:30-7pm at Mayowood Stone Barn. Register on the app, or online.

Luke Stier Stier Construction 2021 RAB President

LUKE STIER President

Rochester Area Builders, Inc

7 | FOUNDATIONS NEWSLTR

ROCHESTER AREA BUILDERS

G

S Y A W $200 A E V I w/

t aske ing & B y t e l • Ha ley Ligh ift card a g H ecor D ard e gift c Hom s ’ a l be rd 0 Ca ift ca g s l • $20 hee 0 Sc 0 1 $ • (2)

June Networking Night

At Haley Comfort Systems

June 29th, 2021 4:30-6:30pm Join us for delicious food, beverages, giveaway drawings, & a tour of our new facility!

REGISTER HERE

8 | JUNE - JULY 2021

ROCHESTER AREA BUILDERS, INC.

MEMBERSHIP REPORT May 2021 Membership Total: Retention rate:

COMMITTEE OPPORTUNITIES

411 87.8

As of May 31, 2021 ONE TO FOUR YEARS Harmony Insurance Group.............................2020 Johnson Printing.............................................2018 Schluter Systems............................................2018 Hy-Vee Stores..................................................2017 Reagan Outdoor Advertising of Rochester..2017

FIVE TO NINE YEARS City of Elgin.....................................................................2015 City of Lewiston.............................................................2015 Wintrust Mortgage.......................................................2015 MBT Bank........................................................................2014 Altra Federal Credit Union.........................................2013 Stewartville EDA...........................................................2013 West Bank.......................................................................2013 Priority Construction Services..................................2012

TEN TO 19 YEARS Elias Construction, LLC...............................................2011 Energy Panel Structures............................................2011 MEP Associates, a Salas O’Brien Company..........2010 Wildwood Sports Bar and Grill.................................2010 Allegra Marketing-Print-Mail....................................2007 Legends Concrete, Inc.................................................2007 Schoeppner, Inc.............................................................2006 Seavey Builders, Inc....................................................2003 Todd Eidem Construction, Inc...................................2002

20 YEARS & MORE Two Rivers Habitat for Humanity..................2000 Home Improvement Professionals, Inc........1999 S.L. Contracting, Inc........................................1998 Hentges Glass Company.................................1991 Radcliffe Homes & Remodeling.....................1988 Kreofsky Building Supplies............................1985 R&M Development Company.........................1970 Alexander & Sons Builders............................1962 Palmer Soderberg, Inc....................................1958

As a member of Rochester Area Builders, you a have an opportunity to get involved in one of our many Committees.

If you are interested in participating in one of the following listed below, please reach out to Shelly.

• Ambassadors • Community Relations • Education • Golf Outing • Green Building • Home Show • Membership & Retention • Program • Showcase • Sporting Clay Shoot

SAVE THE DATE Rochester Area Builders Sporting Clay Shoot SEPTEMBER 16, 2021

9 | FOUNDATIONS NEWSLTR

IT'S HOMEOWNERSHIP MONTH! CALL TODAY FOR PREAPPROVAL

CRYSTAL HUGHLEY REAL ESTATE LENDER NMLS#1389898

www.bankonONB.com PREAPPROVAL IS SUBJECT TO CREDIT REVIEW

Rochester Location 975 34th Ave NW (507) 424-1571 crystal.hughley@bankonONB.com

10 | JUNE - JULY 2021

BUILDERS, BAGS & BREWS DATE: Saturday, August 7th LOCATION: Olmsted County Fairgrounds Builders, Bags, & Brews is an annual community bags tournament and fundraiser for local non-profits. In 2021, funds raised will go towards Jeremiah Program.

•LIVE MUSIC •CRAFT BEER •YARD GAMES •FOOD TRUCKS •SILENT AUCTION

Team Registration NOW OPEN. Deadline: July 14th

PRESENTED BY

FORTY

RAB

Sponsorships AVAILABLE! Deadline: July 1st

o

BEL W CONNECTING. BUILDING. ENGAGING.

Contact Rebekah for more information.

BENEFITING

HEADLINING SPONSOR

11 | FOUNDATIONS NEWSLTR

THANK YOU to all our Golf Outing sponsors and a special shout out

to our Golden Tee Sponsor, Altra Federal Credit Union who helped to make this year’s golf outing successfull. It was great to see everyone in person. Please check out all the event sponsors and their photos on our Facebook page.

12 | JUNE - JULY 2021

SEPTEMBER 18 - 19 & 25 - 26, 2021 11 AM - 5 PM The 2021 Fall Showcase will be here before you know it! Get your latest and greatest homes, townhomes, developments, and townhome communities out in front of the public.

DEADLINES:

1st Deadline: July 1 - $200 discount 2nd Deadline: July 29 - $100 discount Final Deadline: August 19 Entry information and forms can be found HERE

OVERALL EVENT SPONSOR

Remodelers SEPTEMBER 18 - 19, 2021 11 AM - 5 PM Do you have a remodeling project you would like to have open to the public so they can see the finished results firsthand?

The Remodelers Tour has been created to offer you this great marketing opportunity. It’s an excellent way to gain exposure for your company and your projects.

All remodelers are eligible to participate, including designers, landscape contractors, exterior contractors, and more.

DEADLINES:

Discount Deadline: July 29 Final Deadline: August 19 Entry information and forms can be found HERE

OVERALL EVENT SPONSOR

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2021 FALL SHOWCASE OF HOMES / REMODELERS TOUR MAGAZINE ADVERTISING INVESTMENT Sixth Page ....................................................................... $500 Quarter Page ................................................................... $700 Half Page ....................................................................... $900 Half Page ....................................................................... $900 Full Page .......................................................................$1200 Inside Front Page ...........................................................$1500

The 2021 Fall Showcase of Homes features new homes, townhomes, and subdivisions; and The 2021 Remodelers Tour features recent home renovations. Together, they are featured in the Rochester Area Builders-produced digital magazine which is the official program that includes details, descriptions, and photos for each home/subdivision. Participation to showcase a project is exclusive to RAB members, and members of the community are invited to enjoy the event.

The digital magazine produces over 10,000 impressions, and the RAB Events app receives over 33,000 views during the event weekends. RAB will promote the digital magazine across multiple digital platforms with over 500,000 impressions. RAB has contracted with Tulip Tree Studios for ad sales and design services. For more information on how to advertise in our digital magazine, contact Crystal at 507-218-8401 or at Crystal@tuliptree-studios.com.

Full Page

Half Page

Half Page

Quarter Page

Sixth Page

Fall Showcase Weekends September 18-19 & 25-26, 2021 Remodelers Tour Weekend September 18-19, 2021

Remodelers

14 | JUNE - JULY 2021

REQUEST FOR PROPOSALS Residential Development Opportunity:

Roverud Park Neighborhood

About Spring Grove Spring Grove is a scenic town in Southeast Minnesota of approximately 1,300 people. Located along State Highway 44, Spring Grove has convenient access to Rochester, Decorah, and La Crosse, and the Mississippi River is only a short drive away.

Despite its small size, Spring Grove boasts a number of amenities that many small towns seek, including a local grocery store, pharmacy, healthcare clinic, nursing home facilities, cinema, public aquatic center, several childcare options, an award-winning school district, and much more. The town features a robust business and non-profit presence, with a charming historic downtown, an expansive network of parks, and a high level of civic engagement and pride. With numerous opportunities for recreation and business development, Spring Grove is an ideal location for people from all walks of life to live, work, and play.

Overview of Development Opportunity Spring Grove is a town poised for growth. According to the City’s housing study completed in 2020, Spring Grove will need to add an additional 82 housing units by 2030 to accommodate the projected population growth. The City has identified the City-owned public works property overlooking scenic Roverud Park as a prime location for new housing development. This is due to several factors favorable to both the City and a potential developer: ● Utilities are already present on the property, reducing upfront cost to extend infrastructure ● The property is City-owned, so there are no third party land-owners to contend with ● The site is ideal for building small housing units, which have been identified as a critical need in Spring Grove’s tight real estate market as seniors age out of their homes and are looking to downsize while maintaining independence ● The site is located in a quiet, established residential area only a block from downtown, with lovely views of Roverud Park to the west and farmland to the south Spring Grove is looking for an interested party to develop this space into residential units.

Deadline to submit a proposal is August 2, 2021.

1

MORE INFORMATION

15 | FOUNDATIONS NEWSLTR

NAHB Study Finds Double Sinks & Pantries the Most Popular Kitchen Features

BY PAUL EMRATH on JUNE 17, 2021 In the recent NAHB study, What Home Buyers Really Want, 2021 Edition, side-by-side double sinks and walk-in pantries ranked as the most popular of 30 listed kitchen features. This result is based on a comprehensive, nationwide survey of 3,247 recent and prospective home buyers conducted in the summer of 2020.

Among other things, the survey asked recent and prospective buyers to rate over 200 home and community features using the following, four-tier scale (which emphasizes how a particular feature influences the buyer’s purchase decision):

Topping the list of kitchen features, the side-by-side double sink and walk-in pantry are rated essential or desirable by 81 percent of buyers. More than four of every 10 buyers think the double sink is so essential they would be unlikely to buy a home without it, the highest essential share of all kitchen features listed. After the top two, four features are wanted by more than 70 percent of buyers: table space for eating (78 percent), a central island (77 percent), drinking water filtration (76 percent), and granite or other natural stone countertop (73 percent). Not far behind, three features are essential/desirable to more than two-thirds of all buyers: recessed lighting (69 percent), customized backsplash (69 percent), and pull-out shelves (68 percent). Overall, more than half of home buyers rated 20 of the 30 kitchen features either essential or desirable.

Millennial (born 1980 to 1996) and Gen X (born 1965 to 1979) buyers are more likely to want certain kitchen features than their Boomer (born 1946 to 1964) counterparts, by a margin of 25 percentage points in some cases. For example, a steam oven is desirable or essential to 51 percent of Millennials and to 47 percent of Gen X buyers, but only to 19 percent of Boomers – a 32 point difference between the youngest and oldest buyers.

Likewise, considerable shares (>50 percent) of the younger two generations would be positively influenced to purchase a home if the kitchen included a trash compactor, a wine cooler, a central island with range, and a double island. In contrast, the share of Boomers who want those features only ranges from 25 to 37 percent. All these generational differences are statistically significant, and remain significant after controlling for the income, race, geography and household composition of the buyer.

To see home buyer preferences for other features (including all results broken down by Census division, age, generation, race/ethnicity, income, priced expected to pay for the home, household composition, and first-time vs. repeat buyer) and a complete description of the survey design and sampling methodology, please consult the full study.

16 | JUNE - JULY 2021

Your Projects. Our Solutions.

As a multi-disciplinary firm, ISG fosters strong collaboration between all disciplines providing clients a diverse knowledge base, high level of creativity, and broad perspective.

Architecture + Engineering + Environmental + Planning

|

ISGInc.com

#ISGRochLaunch

17 | FOUNDATIONS NEWSLTR

“THE ZUMBRO RIVER STARTS HERE” Downtown Stormwater Demonstration Site

E

xplore the completed pocket park on the west side of 1st Avenue SW adjacent to the 3rd Street Parking Ramp. This is a new stormwater demonstration site highlighting green infrastructure design in an ultra-urban environment. The City of Rochester was awarded an Environmental Protection Agency (EPA) Section 319 Grant in January of 2015 to improve the water quality of the Zumbro River by identifying feasible demonstration sites in the downtown area for demonstrating the implementation of green infrastructure designs, benefits, and maintenance practices in an ultra‐urban environment.

Green infrastructure practices need to be implemented when (re)development projects exceed thresholds determined by the Minnesota Pollution Control Agency.

The site demonstrates several stormwater management practices including:

• Rainwater harvesting from the parking garage • Curb cuts to accept runoff from the street • Rain gardens to infiltrate stormwater • Stacked Limestone fountain to filter and recirculate stormwater • Underground storage of rainwater to supply irrigation and the water feature • Filtration of stormwater • Runnels to transport stormwater across the site • Educational signage on stormwater management

Visitors to the demonstration site will learn from interpretive signage about why it matters that we help capture, purify and reuse stormwater and how stormwater best management systems do this.

Visitors can also trigger water effects through the garden, demonstrating in real time how the various systems work. We hope you check it out! Please contact us with any questions on how to include green infrastructure design to address stormwater management if your building projects.

18 | JUNE - JULY 2021

An event to support construction educational opportunities.

27TH ANNUAL GOLF OUTING

Willow Creek Golf Course

AUGUST 20

1700 48th St SW Rochester, MN 55902

FRIDAY | 2021

11 am | REGISTRATION & LUNCH 12 pm | SHOTGUN START

$110

Early registration received before August 1

$120

Final registration received between August 2-13.

Registration Includes • 18 Holes of Golf • 1/2 Cart • Golfer Gift • Lunch • 1 Door Prize Raffle Ticket

Registration & Sponsorships available on Eventbee.

nawicsemn.org

For questions, contact: Jessi Hanson | 507-272-8232 | info@nawicsemn.org

@NAWICSEMN

Follow us for more information on other chapter events!

19 | FOUNDATIONS NEWSLTR

STUDS, STRUTS & ST

ET TOS

Forms Available For 2021 Studs, Struts & Stilettos Fashion Show Show off your creativity by submitting a design in this year’s fashion show! With the theme being “Strut through History”, your inspiration will come from historical figures, events, and/or a period in time. And as always, materials used in the building industry will be incorporated into the design. Enter today!

PRESENTED BY:

Design Entry Form Deadline: August 5th

A BENEFIT FOR:

OCTOBER 14, 2021 MAYO CIVIC CENTER Find us on Facebook! Click here to view pictures from past events and stay up to date with the latest news on Studs, Struts & Stilettos!

Follow us on STUDS, STRUTS & ST ET TOS

Become a Sponsor Deadline: August 20th

20 | JUNE - JULY 2021

We’re in the offering NAHB members up to $1,000 business.

2018 Chevrolet Low Cab Forward 3500HD

2018 Chevrolet Express 2500 Cargo Van

2018 Chevrolet Silverado 2500HD

2018 GMC Sierra 1500

USING THE PRIVATE OFFER FOR NAHB MEMBERS IS EASY: 1. Get your NAHB Proof of Membership by logging into NAHB.org and obtaining your verification form.

2. Visit your local Chevrolet dealer and mention this Private Offer.

3. Select an eligible vehicle(s) to purchase or lease and present your NAHB proof of membership.

For even more value, combine this offer with the National Fleet Purchase Program and Business Choice Offers. For full details on the Private Offer, NAHB members should visit nahb.org/gm.

Example offer for NAHB members who are business owners purchasing a 2018 Chevrolet Express 2500 Cargo Van. Up to

$1,000 Private Offer1

+

$3,750

National Fleet Purchase Program (FVX)2

Up to

+

$1,200

Eligible Accessory Cash Allowance3

Up to

=

$5,950 In Potential Value

¹Private offer amount varies by model. City Express and Low Cab Forward receive a $250 Offer for both Fleet and Retail deliveries. Fleet deliveries on the Buick Enclave, Chevrolet Traverse, Silverado, Express, Suburban, Tahoe, GMC Acadia, Sierra, Savana, Yukon, XL receive a $1,000 Offer. All other Fleet or Retail deliveries receive a $500 Offer. Valid toward the purchase or lease of eligible new 2017 and 2018 model year vehicles. Offer excludes Chevrolet Bolt, Camaro, SS, Corvette, Sonic, Spark, Trax, Volt, Buick Cascada, LaCrosse, Regal, Verano, and all Cadillac vehicles. Additional GM models may be excluded from time to time at GM’s sole discretion. Customer must take delivery by 1/2/2019. Not compatible with some other offers. Not valid on prior purchases. See dealer for details. 2Offer available to qualified fleet customers through 1/2/2019. Not compatible with some other offers. Take delivery by 1/2/2019. See dealer for details. 3To qualify, vehicle must be used in the day-to-day operations of your business and not solely for personal/non-business-related transportation purposes. For complete program requirements, including information regarding offers, vehicles, equipment, options, warranties, and ordering, consult your dealer or visit www.gmbusinesschoice.com. Requires $500 minimum purchase. Cash Allowance will be equal to the amount spent up to $1,200. Not eligible on Associated Accessories from third-party independent suppliers. Not available with some other offers. Take delivery by 1/2/2019. See dealer for details. ©2018 General Motors, LLC. All rights reserved. The marks appearing in this ad are the trademarks or service marks of GM, its subsidiaries, affiliates, or licensors.

21 | FOUNDATIONS NEWSLTR

22 | JUNE - JULY 2021

Q1 2021 HBGI: Home Building and Commuting

BY LITIC MURALI on JUNE 18, 2021 In addition to its analysis on areas with the longest commuting times, the Q1 2021 Home Building Geography Index (HBGI) features two other Commute-to-Work data series: counties with top shares of bicycle commuters (i.e., greater than or equal to 0.5 percent) and counties with top shares1 of work-from-home workers (greater than or equal to 6.6 percent). Single-family and multifamily housing submarkets for both categories had been bifurcated at the county-level between the top quintile and all other areas for this analysis.

The HBGI data show that the top quintile of counties of bicycle commuters accounted for 31.3 percent of single-family homebuilding as of the first quarter of 2021. During 2016, that is, the first few quarters under the HBGI’s purview, the share had been slightly larger.

approximately three times greater in counties where the share of work-from-home workers is less than 6.6 percent, which effectively make up 80 percent of all counties surveyed.

The data show that single-family home building outpaced its multifamily counterpart in recent history, particularly in 2020 as the COVID-19 pandemic necessitated work-from-home arrangements that often resulted in many Americans moving away from core counties of large metro and small metro areas.

1.

The market shares have a more intuitive result when looking at the multifamily sector: top bicycle commuter counties accounted for 52.4 percent of multifamily home building. Therefore, one might reasonably expect the share of multifamily home building to be greater in these counties, as commuting by bicycle is a popular choice of transit in urban areas.

Counties with a relatively high percentage of workfrom-home workers, have lower market shares in both single-family and multifamily home building, by about 50 percent in both submarkets, than their office-focused commuter counterparts. In other words, single-family and multifamily homebuilding is

Both shares are derived from data from the “Commuting Characteristics” table of the 2018 5-year American Community Survey. Hence, they do not account for any subsequent changes that might have ensued in later years, particularly during the COVID-19 pandemic, when the number of work-from-home workers greatly increased due to shelter-in-place restrictions.

23 | FOUNDATIONS NEWSLTR

Goodin Company carries a full complement of products for the markets we serve.

Are you in need of products for plumbing, HVAC, industrial, or pump and well applications?

We are your Source of Supply, serving the industry since 1937.

PLUMBING

HVAC

Goodin Company maintains a complete inventory in a wide range of major brand plumbing products for both residential and commercial plumbing contractors.

To support our plumbing inventory, we maintain showrooms in many of our branch locations.

Our HVAC division encompasses both hydronic and warm air heating as well as central and split system air conditioning equipment for residential and commercial systems. We also provide technical support in design and layout.

INDUSTRIAL

PUMP AND WELL

We supply a wide range of industrial pipe, valves, and fittings. To compliment our pipe inventory, we offer a complete in-house pipe fabrication service in which we are able to cut, thread and groove pipe to our customers’ specifications.

Goodin Company’s pump and well division maintains a complete inventory of pumps and repair parts for the residential water well drilling contractor, as well as the large commercial or municipal driller.

MINNEAPOLIS (612) 588-7811 ST. PAUL (651) 489-8831 DULUTH (218) 727-6670 DETROIT LAKES (218) 847-9211 ST. CLOUD (320) 259-6086

BRAINERD (218) 828-4242 ROCHESTER (507) 529-1284 FARGO (701) 298-3210 SIOUX FALLS (605) 332-3444 OMAHA (402) 331-6813 www.goodinco.com

EAU CLAIRE (715) 830-1800 WAUSAU (715) 675-2513 MADISON (608) 663-0331 MILWAUKEE (262) 781-1770 GREEN BAY (920) 884-9494

24 | JUNE - JULY 2021

PROFILE ENHANCEMENTS STANDARD

• Company name, address and phone number • Website, address map, and phone button • 5 categories

UPGRADED

ENHANCED

PREMIUM

(Includes Standard Listing)

(Includes Upgraded Listing)

(Includes Enhanced Listing)

• 12 categories • Company Description (200 characters) • Keywords (240 characters)

• Company Description (1600 characters)

• Logo on search results • Social networks can be added

• Keywords (unlimited characters)

• Hours of Operation

• 200 characters on search results

• Driving Directions

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25 | FOUNDATIONS NEWSLTR

Real Estate Market Values Surge in the First Quarter

BY LITIC MURALI on JUNE 11, 2021 The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that, in the first quarter of 2021, the aggregate market value of all owneroccupied real estate in the United States registered the largest numerical quarterly increase in the last 20 years’ worth of data. From $32.84 trillion in the fourth quarter of 2020, real estate rose by $0.94 trillion to $33.78 trillion. The market has been bolstered immensely by nationwide home price appreciation, which only overheats it even more.

On the liabilities side of real estate’s balance sheet, home mortgages rose by $120 billion in the last quarter to $11.04 trillion. In terms of the scale of increases, the real estate assets are increasing much faster than real estate liabilities. The change in the value total home mortgages owe to the combination of more mortgages being undertaken by prospective homeowners and the aggregate unpaid principal balance of all mortgages being paid down. Per the Mortgage Bankers Association’s latest assessment, the share of home loans in forbearance is currently 4.16%, an important data point to consider as the American economy reopens from the pandemic and many Americans exit the financial hardship they had previously experienced under COVID-19’s stranglehold on the economy.

Meanwhile, aggregate owners’ equity, that is the difference between the market value of all owneroccupied real estate and the aggregate value of home mortgages increased in the latest quarter to $22.7 trillion, or 67% of all household real estate, the highest share since 1989. This high share speaks more broadly for all homeowners as a good time to refinance their existing loans, which the Mortgage Bankers Association’s recent weekly survey data reflect.

26 | JUNE - JULY 2021

ROCHESTER BUILDING PERMITS

MAY 2021

NEW RESIDENTIAL

2021

Single Family Dwelling

24

8,489,082

15

4,257,589

January

6

19

11

20

25

15

19

6

17

23

Townhome Dwelling

2

600,000

4

1,310,000

February

20

15

14

19

15

20

16

5

13

8

Two-Family Houses

0

0

0

0

March

32

29

28

30

31

44

25

27

32

35

Manufactured Home

0

0

0

0

April

29

39

25

22

33

45

40

23

19

19

127

14,800,000

0

0

May

27

35

19

56

43

28

27

19

26

129 113

110

160

167 128

84

Multi-Family Bldgs (Units)

VALUATION 2020

VALUATION

2012 2013 2014 2015 2016 2017 2018

TOTAL

EXISTING RESIDENTIAL Deck Addition

34

69,136

21

144,753

Room Addition

0

0

6

288,666

Porch Additions

4

69,000

1

35,000

Other Additions

3

23,100

2

14,000

Basement Finish

30

548,288

12

210,665

Alterations

51

649,826

33

810,191

Multi-Family Addition

0

0

0

0

Multi-Family Alterations

5

70,500

3

523,605

22 109

2019 2020 2021

100 111

June

32

33

47

51

41

52

38

31

21

July

39

39

38

29

44

45

36

26

26

August

38

21

60

33

47

30

31

24

17

September

22

22

23

27

52

35

39

12

30

October

23

34

35

49

25

36

29

27

28

November

22

26

26

23

12

41

21

47

23

33

December

14

22

27

42

37

25

34

21

TOTAL

299

326

369

369

418 429 347

289

266

111

*Total may differ as permits may have been voided.

NEW COMMERCIAL Assembly (Church)

0

0

0

0

Assembly (General)

0

0

0

0

Assembly (Restaurant/Bar)

0

0

0

0

Business

0

0

1

530,000

Education

1

23,476,142

0

0

Factory/Industrial

0

0

0

0

Institution

0

0

0

0

Mercantile

1

1,300,000

0

0

Miscellaneous

0

0

0

0

Residential (Apartment)

0

0

0

0

Residential (Care/Assisted Living)

0

0

0

0

Residential (Care/Hotel/Motel)

0

0

0

0

Storage (General)

0

0

1

18,000

Storage (Parking Garage)

0

0

0

0

Storage (Warehouse)

0

0

0

0

Utility (General)

2

329,500

2

90,962

Utility (Private Garage)

1

75,000

0

0

0

0

1

170,000

YEAR TO DATE STATISTICS NO.

2021 VALUATION

NO.

2020 VALUATION

BUILDING PERMITS ISSUED TO DATE

910

207,212,927

645

150,978,015

Single Family Dwelling

101

34,680,569

86

25,670,959

Multi-Family Buildings Total Units: 127

1

14,800,000

1

10,640,000

TRADE PERMITS ISSUED TO DATE

4324

52,736,631

3580

49,133,882

Electrical

1657

24,756,283

1353

22,438,350

Electrical (Temp. Service)

97

30,855

110

43,800

1131

14,216,547

842

13,936,423

Mechanical (Gas Piping)

261

356,662

247

397,480

Mechanical (Fireplace)

150

779,817

130

529,050

Mechanical (HVAC)

Mechanical (Hydronic)

68

3,765,155

77

2,115,287

960

8,831,312

821

9,673,492

5234

259,949,558

4225

200,111,897

NUMBER

VALUATION

Single Family Detached

6

2,250,500

Single Family Attached

0

0

Basement Finish

1

150,000

Deck Addition

7

128,738

Solar

1

1,500

Plumbing TOTAL PERMITS YTD

EXISTING COMMERCIAL Addition Alterations

24

7,380,956

31

10,482,009

Structural Shell

0

0

1

1,115,310

“White Box”

0

0

0

0

Interior Demolition Only

0

0

0

0

Other Phased Permits

0

0

0

0

OTHER CONSTRUCTION Business Signs Advertising Signs

MAY 2021

BYRON

BUILDING PERMITS

NEW RESIDENTIAL

Existing Residential

COMMERCIAL

11

190,040

3

35,911

0

0

0

0

New Commercial

0

0

Commercial Alteration

0

0

NUMBER

VALUATION

Single Family Detached

1

No Info

Single Family Attached

0

0

Basement Finish

1

16,000

Deck Addition

2

20,100

Footings & Foundations

0

0

0

0

Demolition

0

0

2

0

Information and downloads available at Rochester Building Safety Department’s website: https://www.rochestermn.gov/government/departments/building-safety/reports-building-permits/building-permits-2021

MAY 2021

PINE ISLAND

BUILDING PERMITS

NEW RESIDENTIAL

Existing Residential

27 | FOUNDATIONS NEWSLTR

OLMSTED COUNTY PERMITS YTD

2021

VALUATION

2020

VALUATION

9

2,250,364

15

4,174,945

Single Family-Attached

4

513,188

0

0

7

315,694

10

412,737

Deck

8

43,470

11

48,790

Addition

5

362,019

3

29,760

34

416,531

37

712,803

2

36,426

1

9,612

RESIDENTIAL

Garage Addition

VALUATION

Addition

1

121,056

1

422,867

Alterations

2

61,000

1

2,850

Re-roofing

0

0

2

8,250

Pool, Retaining Wall, etc.

8

136,528

4

127,383

Manufactured Homes

9

0

29

0

Mechanical

71

547,900

75

987,519

Plumbing

42

397,850

48

800,751

209

7,261,190

233

12,515,283

MISCELLANEOUS PERMITS

NEW COMMERCIAL/INDUSTRIAL Recreational

0

0

0

0

Church/Religious

0

0

0

0

Industrial/Warehouse

0

0

0

0

Service/Repair Station

0

0

0

0

Store/Restaurant

0

0

1

355,968

Nonresidential Building

1

134,573

0

0

VALUATION $0 PERMITS 0

2020

OTHER STRUCTURES

Alterations

2021

VALUATION

COMMERCIAL/INDUSTRIAL

Single Family-Detached Garage

2021

NEW RESIDENTIAL

MAY 2021

TOTAL PERMITS

OLMSTED COUNTY PERMITS MAY

2020

VALUATION $473,095 PERMITS 10

EYOTA

VALUATION $642,815 PERMITS 21

VALUATION $1,450,242 PERMITS 72

VALUATION $1,690,877 PERMITS 21

MARION

VALUATION $1,925,963 PERMITS 82

VALUATION $0 PERMITS 0

ORONOCO TWP

VALUATION $913,351 PERMITS 27

VALUATION $0 PERMITS 0

QUINCY

VALUATION $8,665,983 PERMITS 69

STEWARTVILLE

Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year.

Key Metrics

Historical Sparkbars

New Listings 5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

5-2018

5-2019

5-2020

5-2021

Pending Sales

Closed Sales

Days on Market

Median Sales Price

Avg. Sales Price

Pct. of Orig. Price Received

Affordability Index

Homes for Sale

Months Supply

5-2020

5-2021

Percent Change

YTD 2020 YTD 2021

699

624

- 10.7%

2,822

2,793

- 1.0%

631

661

+ 4.8%

2,499

2,772

+ 10.9%

504

615

+ 22.0%

2,042

2,176

+ 6.6%

51

30

- 41.2%

65

42

- 35.4%

$220,000

$249,950

+ 13.6%

$214,900

$230,000

+ 7.0%

$243,211

$290,432

+ 19.4%

$237,730

$263,677

+ 10.9%

97.5%

101.3%

+ 3.9%

96.6%

99.4%

+ 2.9%

191

171

- 10.5%

195

185

- 5.1%

1,204

452

- 62.5%

--

--

--

2.3

0.8

- 65.2%

--

--

--

Percent Change

Current as of June 4, 2021. All data from Southeast Minnesota REALTORS® and NorthstarMLS®. Provided by the Minnesota Association of REALTORS®. Report © 2021 ShowingTime. | 2

28 | JUNE - JULY 2021

29 | FOUNDATIONS NEWSLTR

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