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HRA 12/07/2006 - 6229CITY OF FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY MEETING Thursday, December 7, 2006, 7:30 P.M. AGENDA LOCATION: Council Chambers (upper level) CALL TO ORDER: • - APPROVAL OF MINUTES: J1. Approval of November 2, 2006, Meeting Minutes ACTION: 1. Approval of expenses 2. Approval of Final 2007 Budget INFORMATIONAL ITEMS: ri 1. Gateway West Update 2. Monthly Housing Report ?��a 0 C�'."( 00 �"q' ( C 5 f)r) /' K� CITY OF FFUDLEY HOUSING && REDEVELOPMENT /\UTHC]F||TY wo NC�VEN1BE��2 ,2006 CALL TO ORDER: Chairperson Commers; called the regular meeting of the Housing & Redevelopment Authority to order 8t7:3O pm. MEMBERS PRESENT: Lorry Cornnne[n, Pat Gabel, VViUiann Ho|nn, John Moyer OTHERS PRESENT: Paul Bolin, HRAAsaistont Executive Director Scott Hickok, Development Director Jinn C8SS8dy' Development Consultant Richard Phhv}, Financial Director/Treasurer Mike J8ziroSW' City Accountant APPROVE OF MINUTES: 1. Approval of September 7 1h 2006 HRA meeting minutes Commissioner Gabel stated that OD page two, paragraph two, last sentence should read "Staff recommends this payment sO Mr. Miller will OO longer have 3 claim against the Qtv."(not COUOtv) Commissioner Gabel stated that the last page under Other Business, first paragraph, last sentence should read "She questioned if there was a potential to get the station (not land) back." MOTION by Commissioner Gabel to approve the minutes as submitted with the above corrections. Seconded by Commissioner Meyer. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COK0K8ERS DECLARED THE MOTION CARRIED UNANIMOUSLY. CONSENT AGENDA: 1' Approve expenses 2' Approve 2DQ7HRA meeting dates Commissioner Gabel questioned if the July 5 th meeting date should be changed. Paul Bolin, HRA Assistant Executive Director, recommended to wait and see if a July meeting is needed. |f8 meeting iS needed iO July, yV8 can move itai that time. MOTION by Commissioner Gabel [0 approve the consent agenda 8apresented, Seconded by COUnoi|nneDlberMoy8r. UPON A\yO|CE YyQTE' ALL VOTING AYE, CHAIRPERSON CC}K0k8ER8 DECLARED THE MOTION CARRIED UNANIMOUSLY. Mr. C8sgeMy answered that staff analyzed this 8S8DHRA project. They questioned what 8D authority would pay for the Site' provide the F8rnGdiobOO and put the site in 8 buildable form. The costs are all estimates. The only costs that are firm are the two acquisition costs. They tried k} determine the value 0f the site ifit was improved, clean and buildable. Part Ofthe problem with this acquisition is that You are paying for building that you are not going t0 use. That cost ia built into the acquisition cost. TO get @ handle OO the market value 0f the site istn talk with the assessor about other comparable sales and the $4.008 square foot was comparable 10 some Of the other sales. The assessor will have 3 land value and 8building V8|U8. The other sites C0Olp8[8b|e were Vv8F8hOUSe sites. There were 8 few \8Dd only S8|8S that were used also. The current market value of the land iS about $2.373 square foot. The building iS assessed 8t$1.215M. )f you take off the building and remove the demolition debris and clean Up the site, this increases the land value tO$4.0O8 square foot. The problem with this redevelopment project iSthGty0Uh8V8tOp8yfOr8SirUCtU[eth8th8SGODn8v8\U8'buihaS tObe removed t0 maximize the value Of the site. The 2007 value Of the site was $2.51VI and at the end of the project itShOUldb8vvOdh$10.0K4tO$12.5Mm/ithi[DprOV8[n8OtS. Chairperson Commers stated that we are exceeding our guidelines over and above what DOrnl8\ site irnp[nv8ODnOtG o0gtS are. Mr. Cass8r|y answered that the last time VV8had a similar project Vv8S1h8|OdUSt[\8\EqUit\8S project in 1990. the property on 73m and University behind Holiday. That project OD8Vh8ve been interpreted 8S5% grant and 5%loan. That was amortized 8t10% over 1O years and was in@D economical development district. VVe may need toQo back toMcG\ynns back \n1SQ3 where vve did 8 reV8OU8 note for 15 years. Commissioner Gabel questioned if the there was established criteria regarding exceeding guidelines. Mr. Bolin replied that there is no established criteria and in the past this has been handled on a case-by-case basis. Commissioner Meyer questioned if this would attract negative attention from legislature. Chairperson Comnnmere answered no. Commissioner Meyer questioned ifthe 5% was a historic figure. CheirpersonCoOnrners answered that 5%iS the HRA policy; they have stayed within the guidelines and give loans based OO that figure. Mr. Casser|y stated that there iS8 risk assessment. |tiS difficult tO get redevelopers t0advance all Of the cash for redevelopment projects. |O this instance, that i3 what the proposal iSfor. HRAiS advancing the money, the project would be in place, but the HRA would be making advances very early 0OiD the project. The HRA can recover both from the repayment Ofthe loan and from the tax increment that iS generated OO the new development t0 cover the cash that is advanced at the beginning of the project. One Of the things that has happened 1oall HRA'8 is the state has changed the tax laws. On a project like this vVewould have collected 1/3 more taxes so that a tax increment district could have been greatly reduced. When you lose 1/3 Of Your inCrmDl8n[ it lengthens the t8[nn of the district. This is the kind of project that should have been paid off in1O-15 years rather than 15-2Oyears. That iS just 8 function Of not having all of the new taxes coming back into tO repay expenses. glass, brick, landscaping, parking lots and are a long haul player. Chairperson Commers asked what would drive the difference between the 202,000 and 248,000 sq. ft. buildings. Mr. Allen answered he could not share names, but there is a major Corporate 100 user looking at this site for a distribution center for the Minneapolis /St. Paul market place. This distribution center would be 242,000 square feet of warehouse with 15,000 square feet of office space. It would also bring in excess of 200 jobs to the city. Chairperson Commers asked if they would need a tenant ahead of time before they would start construction. Mr. Allen answered that they would know within the next 30 -45 days if this company is interested in the site. Mr. Allen is confident that this site is a good possibility. This should give plenty of time to get the design approved and construction started by March of 2007. This site has redevelopment written all over it. Mr. Casserly stated that this project is fairly straight forward for a redevelopment project. This is a low risk project. Mr. Bolin added that this project would go a long ways towards taking care of property that has been a problem for a number of years for the city. If this site can be turned around, maybe interest can be generated in surrounding properties that are underutilized. Commissioner Gabel questioned when they will determine the size of the building. Will it depend on the tenant they find? Mr. Allen answered that the decision will be made in the next 60 -90 days. All of Industrial Equities properties across the metropolitan area do not attract the low end user. Industrial Equities will own the properties long term and will have quality, high class tenants. MOTION by Commissioner Meyer to approve the Tax Increment Assistance request for Industrial Equities redevelopment of former Guardian Building Products site. Seconded by Commissioner Gabel. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY. 2. Approval of Preliminary 2007 Budget Paul Bolin, HRA Assistant Executive Director, stated that the purpose of tonight's presentation is to review the proposed 2007 budget. An overview of the budget will be provided including projected revenues and expenses. They hope to bring the final budget back for formal action in December. The budget is broken into three categories; general fund - administrative and operating expenses, special revenue funds - housing programs and the capital outlay funds - tax increment funding districts. Staff does not have all the numbers they need from Anoka County to complete the entire budget. Last year we were not able to approve a final budget until February, hopefully the timing will be better this year. Mr. Bolin stated that the total revenue is projected is $4.9M for 2007. This is a $418,729 increase over last year or 9.4 %. HRA tax levy is projected at an increase of $30,000 or 8 3/4 %. Mr. phbw| stated that is8DUnkDovvOcate- �ory. The 8��nUntof$14/4OSiSvVh@tvVaSoCtuoUy spent Ul°Ugh 8/30/00 and it is possible we will not [9@dl the 8Dbpe budgeted amount of $75'000. Chairperson Commers questioned why the cost wouldn't be charged to a specific TIF district. KAr. Pribml8D3VV8F8d that if they haven't created the d\Gt�Ctyet there [O8yb8S0Dl8Up�OOtcosts iO'D1i�''UOOOfgeUiDg the district. This iSSinli\8[tOVVh8tVVe did Vviththe Islands 0fPeace district. If the district once the district iS created. Chairperson Commers stated that an example would be expenses that occur with Industrial Equities up until now. 88y Bolin stated that i8 CD[r8C\ and it Vv0U|d CO[D8 out of there. In that p@[tiCU\8[ iDS18nC8 we did ^8 �7 5O0 deposit from P�F Allen to [einnbUrG8 ��[ [|8SSe[|y for his time. HF�Ah8\p8d out @ �Rz - ' Vvh8O the city '�|d its housing f0[nlS ��RAvV8S asked to participate in CODtF8C1iDg ��»VY8�nS8�O /` \'n |t includes 8 lot of those type ofexpenses S0Ol8SRrViC�SfO[th8U�CO[DiD�comprehensive pa . that don't necessarily fit into any 0f our districts. K8r. P[iby\ stated that this category, before charging any expenses, they VVOU\dfirst Dl8kesure 1h ` DS�S vvOU\dO't�t into @ �8��cU\3[T|F district. Pn]f8SSiOD@| S8rvio8S that are not the expenses � ~'8CifiCol|y related tO8OF district would be charged to this fund. Commissioner Gabel questioned what insurance non personal was. Mr. Pr7byl answered that this vVOU\d he iOSUr8DCe that r8|8t8S to liability \DSUn8OCe' p[Of8GSiOO8l errors and omissions for the board. This category would include all insurance expenses that don't relate directly tothe pe[SOOOe(. Mr. Bolin stated that insurance \Salready iO place for the 20O7Home & Garden Show. Commissioner Holm stated that in looking at revenue and expenses for the coming year, HRA looks iOp[edv good shape. H8 questioned \f there vve[eany debt services COPOiOgUpinthe future years 'h8twould put pressure on the balances. KAr. Priby\ stated that looking fOmV8[d8t the debt services, the HRAiS\O good Un8nC\a| condition t0 take care Of any expenditures coming up. They would present 8 balance sheet 8t the next meeting tO show the cash flow. Chairperson Commers asked for staff to put a report together so HRA has an idea of what is left for excess funds. MOTION by Commissioner Gabel tO approve the Preliminary 2O07Budget. Seconded by Commissioner Holm. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COk8K8ERS DECLARED THE MOTION CARRIED UNANIMOUSLY. 3' Authorization to negotiate purchase of properties in Gateway Northeast area' Paul Bolin, HRA Assistant Executive Director, presented a request from staff to authorize them Mr. Bolin stated that @t some point City Council would be involved b] help determine what the end usage Of the property would be. MOTION by Commissioner Meyer tO authorize staff tO negotiate purchase Of properties iD Gateway Northeast area. (FOrrner{}a[qu8stBu\Ning8t0OO5 University Avenue and the original Van-n-Lite Building at0O4` University Avenue) Seconded by CO[n[niSSiOn8r Holm. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COK8K8ERS DECLARED THE MOTION CARRIED UNANIMOUSLY. Chairperson ConDDogrs stated that if staff wanted to g8fh8[ other \OfO[nO8ti0O regarding surrounding properties that may be available for purchase, they could do that as Vve||. 4. Approval of Contract for Administrative Service for 2007 8mrmm @^ Garden Show MOTION by CnDlDniSsiODe[ Meyer to oppn}V8 the contract for administrative service for the 2007 Home & Garden Show. Seconded by {|o0misS\oOo[ Gabel. UPON AVO\CE VOTE, ALL VOTING AYE, CHAIRPERSON COKAK8ERS DECLARED THE MOTION CARRIED UNANIMOUSLY. INFORMATIONAL ITEMS: 1. Gateway West Update Paul Bolin, �1RAASSi�8Ot Executive Director, stated that 8 week ago 0UePhntHnO�eS fOUOVvedth'UghVv�hth�ir8gr88Dl�OtVv�hHRA and purchased 2 lots per qUa�8[ They have '" submitted home plans and it was passed 8[OUO d for HRAto V\8V. Blue Print has COOp\etoU one of the homes and has already sold the home. Anoka County surveyors are currently [8VieVViDg the final plat for the Gateway West Second Addition. There were some Ut\n problems iO that area and that iS set tOgO before the City Council 8t the November 13mmeeting. The f8DC8 project is nearly CODlp|9tB� they are just waiting for the C0[[8Ct product to COr08 \O. The Oli\|and vpoverlay p 'eCtOD3mSt'88tVV\\|b' complete next spring. Photo's were shared from the beginning of the project to novV. 2. Monthly Housing Report Paul Bolin, HRA Assistant EX8CUUv8Director, rev8Vvedthe nlVDthk/housing reoOrL For the nl0Oth8fD''bS[ the revolving loan fund issued one loan and one d8f8�8dloan. Year tOdate vV8 have \S~"'d eight O \DteF8St |OaDS and 8 ƒOt8| of six deferred |O8O. This is Up hDOO last year ~""^ |' '~�f�r[ed\oon Looking at the available balances in the loan fund, VY8 V«h�r8VV�k�Uonyon*m rdid budget $O25' O0OiO^ the [egU| 8[ revolving loan fund and SO far V8 have loaned out just UO d8 [ $130`O0O for the year. In the deferred loans V8 budgeted for $20O' O00 and have loaned out just under $57'000 for the year. We need iO focus O that area and the city news letter has Gn advertisement for the |O8n [Ogr@D and hopefully that will help generate some |O@D8. Mr. Bolin stated that the remodeling advisor visits had one visit \n October which \e33 year to date, Ve are OnsChedU\��tUnOe8t the plan nf50visKs for the y8@[ {)pe[aU0O\OSUk�\0Ohas bmH'ob�gdisappointment ---rHRA[hiSye@c October has not generated any interest \nthe // '— \ d 5ViSits VV8h8dp|8OD�d[oOn8keaboUt25viS\tS pn}g[on0� Year to dG�8 they h8V� only made ' this year. VVe may need to think 0f other ways U} promote these programs and CFe8(8 \Ot8FeSt in the home owners. Final 2007 Budget Fridley Housing and Redevelopment Authority Final 2007 HRA Budget Revenues ecting total revenues of $5.1 M for 2007. 5,429 increase or 15.66% more than 2006 0 (� o7 e T � fi. � sac�..� •,.,, ,_� ,,, r G, j .�i tom. 31.'p c.� .V- a J Final 2007 HRA Budget • Final 2007 Budget Document ♦ Including 2007 tax increment figures from county • Balance Sheet as of 10/31/06 • Debt Service Schedule Final 2007 HRA Budget Expenses ■ Projecting total expenses of $3.2M for 2007. ■ $542,234 decrease or 14% less than 2006 ■ Less expenditure activity in various TIF Districts accounts for the decrease in expenses. COMMUNITY DEVELOPMEi%T DEPARTMENT HOUSING 1 REDEVELOPMENT AUTHORITY Memorandum DATE: November 27, 2006 TO: William W. Burns, Executive Director of HRA FROM: Rick Pribyl, Finance Director Mike Jeziorski, HRA Accountant Paul Bolin, Assistant Director of HRA SUBJECT: Approval of Final 2007 Budget Attached you will find the final 2007 budget document, a balance sheet as of 10/31/06, and a debt service schedule. We have incorporated the 2007 tax capacity values provided by the County into this budget. We will be providing a brief presentation at Thursday's meeting and as always will be available to answer any questions that you may have. The budget is divided into three separate categories. The General Fund covers the bulk of the administrative and overhead costs of the HRA. The two Special Project Funds include the revolving loan fund and an additional fund for other housing related programs and services (CEE programs such as Operation Insulation). The Capital Outlay Funds include all of the tax increment (TIF) districts. Staff recommends that the HRA make a motion to approve the 2007 budget. HAMy Documents\Frid1ey\Dec2006(2007 FinalBudget Memo),doc 100 - General Fund Revenues City Revenues 100 - 0000 - 311 -1000 100- 0000 - 311 -2000 100 -0000- 334 -1000 Other Miscellaneous F 100 - 0000 - 362 -1000 100 -0000- 362 -1500 100 -0000- 362 -2000 100 -0000- 362 -5100 City of Fridley HRA Budget Fiscal Year 2007 Account Description Tax Levy Tax Levy - Delinquent Years Residual MV Homestead Credit revenue Interest on Investment Earnings Interest on Mortgages (Agro -K) Rent and Royalties (Frauenshuh - parking lot rental) Sale of Miscellaneous Property (Medtronic Land Sale Payment) 2006 Activity through 10131/06 FY 2006 Budget FY 2007 Budget 171,380.20 343,135.00 373,151.00 171,380.20 343,135.00 373,151.00 (8,250.32) 90,000.00 222,500.00 5,809.41 3,800.00 5,300.00 8,000,00 9,600.00 9,600,00 73,548.71 100,000.00 67,300.00 79,107.80 203,400.00 304,700.00 Total Revenues - [General Fund 250,488:00" 546535.00 677;851.00 Expenses Salaries and Wages 100- 0000 - 430 -4101 Full Time Employee Salary 100 - 0000 - 430 -4107 Administration Charges (Allocation) 100 - 0000 - 430 -4112 Employee Leave Benefits 3,000.00 100 - 0000 - 430 -4120 Medicare (1.45% of Salary) 100- 0000 -430 -4122 Social Security (6.2% of Salary) 100- 0000 - 430 -4125 Wells Fargo Contribution 100 -0000- 430 -4131 Health Insurance 100- 0000 - 430 -4132 Dental Insurance 100 -0000- 430 -4133 Life Insurance 100 - 0000 - 430.4150 Workers Compensation Supplies and Materials 4,668,00 100 -0000- 430 -4221 Operating Supplies Purchased Services 9.23 100 - 0000 - 430 -4330 Professional Services (Ehlers) 100- 0000 - 430 -4331 Dues and Subscriptions (NAHRO, AICP) 100 - 0000 - 430 -4332 Communication (Allocation) 100 -0000- 430 -4333 Transportation (Mileage Reimbursement) 100 - 0000 - 430 -4334 Advertising 100 - 0000 -430 -4335 Printing and Binding (Allocation) 100- 0000 -430 -4336 Insurance - Non Personnel (Allocation) 100 - 0000 -430 -4337 Conferences /Seminars/Training (Ehlers Seminar) 100- 0000 - 430 -4338 Utility Services 100- 0000 - 430 -4340 Services Contracted (Mowing Contract) 100- 0000 -430 -4346 Miscellaneous Other Finance Uses 100- 0000 - 430 -4720 Operating Transfer to Other Fund 49,708.09 73,506.00 77,792.00 130,500A0 174, 000, 00 178,900.00 9,621.91 3,000.00 - _ 189,830.00 250,506.00 256,692.00 142.02 750.00 750.00 896.42 1,070.00 1,128,00 3,83101 4,600.00 4,823.00 3,55916 4,500,00 4,668,00 5,596,89 - 11,437.00 9.23 - 240.00 42.50 60.00 51.00 1,657.27 735.00 778.00 15,595.08 10,965.00 23,125.00 _ 1,314.48 675.00 675.00 1,314.48 675.00 675.00 15,797.35 75,000.00 75,000.00 150.00 425.00 425.00 261.96 288.00 223.00 - 150.00 150.00 142.02 750.00 750.00 - 900,00 1,000.00 16,061.88 20,000.00 20,451.00 585.00 1,900,00 2,000.00 - 200.00 200.00 1,53015 5,000.00 5,000.00 - 1,200.00 - 34, 528.46 105, 813.00 105,199.00 285,719.48 - 285,719.48 - Total Exenses-General=Fund- "526,987:50 387;958.00 385,691.000 Net Income . General Fund {276,499:50) ', 178576.00 292,160.00 y 265 - Housing Programs Revenues Other Miscellaneous Revenue 265 -0000- 362 -1000 Interest on Investment Earnings (15.9 - - 265 -0000- 362 -1500 Interest on Mortgages (Pool 3) 59.92 2 17,975.00 14,000.00 14,000.00 265 -0000- 362 -6100 Miscellaneous Revenue (Home and Garden Show) Unaudited Data - For Management Purposes Only City of Fridley HRA Budget Fiscal Year 2007 2006 Activity Account Description through 10/31/06 FY 2006 Budget FY 2007 Budget 18,019.01 14, 000.00 14,000.00 Total Revenues!- Housing Programs ' 18,019.01 14,000.00 14;000.00 Expenses Purchased Services 2,500.00 265 - 0000 - 430 -4330 Professional Services (Castle Visions) 265 - 0000 - 430 -4331 Dues and Subscriptions 265 - 0000 - 430 -4334 Advertising (Clear Channel - Home Show) 265 -0000- 430 -4335 Printing and Binding (Advantage Sign - Home Show) 265 - 0000 - 430 -4340 Services Contracted (CEE) 265 -0000- 430 -4341 Charges /Rentals (National Sports Center /Cenaiko -Home Show) 3,658,55 2,500.00 6,000.00 1,826.00 - - 597.00 3,000.00 1,000.00 495.44 2,500.00 500.00 4,681.21 17,375.00 5,000.00 250.00 4,500.00 5,500.00 11,508.20 29,875.00 18,000.00 Total Expenses - t3ousin P.ro rams. 11,508.20 " 29;875.00. 18;000.00 Net Income Housing Programs - 6 510.81 (15,875.00) 4 0OO.OD 267 - Revolving Loan 1.5 Revenues Other Miscellaneous Revenue 267 -0000 -362 -1000 Interest on Investment Earnings 267 -0000- 362 -1500 Interest on Mortgages (Pool 0, 1, 2) (4,159.48) 65,000.00 122,900.00 _ 39,323.16 45,000.00 45,000.00 35 163.68 11 0, 000.00 167,900.00 Total Revenues = Revolving Revolvin Loan 1 5 35,163.68. " 110,000.00 , " 167,900.00 Expenses Purchased Services 267 - 0000 - 430 -4330 267- 0000 - 430 -4334 267- 0000 - 430 -4340 Other Finance Uses 267 -0000- 430 -4725 267 -0000- 475 -4610 Professional Services (CEE) Advertising Services Contracted Operating Transfer to City Debt Service /Interest Expense (1 5 Million Loan with City) 1,930.00 2,000.00 2,000.00 - 5,000.00 - 14 730.34 30,000.00 30,000.00 16,660.34 37,000.00 32,000.00 - 87,429.00 - 23,213.36 - 19,963.00 23,213.36 87,429.00 19,963.00 Total Ex enses -Revolving 15 39,873:70 124;429.00 51,963.00 Net Income Revolving Loan 1.5 (4 710:92) �. (14;429.00) : 115,937.00 450 - Center City (1979 -2009) Revenues city Revenues 450 - 0000 - 311 -1000 Tax Levy 450 - 0000 -311 -2000 Tax Levy - Delinquent Years 450 - 0000 - 334 -1000 Residual MV Homestead Credit Other Miscellaneous Revenue 450 -0000- 362 -1000 Interest on Investment Earnings 257,270.86 537,100.00 579,800.00 4,634.91 - 261,905.77 537,100.00 579,800.00 (1055.09) - 54,700.00 (1 055.09) 54,700.00 < Total Revenues = Center Gi 260,850.68 ` 537;100.00 634,500.00 Expenses Purchased Services 3,500.00 450 -0000- 430 -4330 Professional Services 3,218.57 3,218.57 - 3,500.00 Unaudited Data - For Management Purposes Only City mFridley HRm Budget Fiscal Year 2007 2006 Activity Account Description through 10131106 FY 2006 Budget FY 2007 Budget 267,632.1 ,537,100-00 6311000.00 Net Income - Center City 461 - Moore Lake Area (1981-2007) Revenues City Revenues 1,100,20&00 24uemx4 mo.us1no �5.»»»o» wm�nuo�n'1000 Tax Levy . r�1no - - wn�oon�11�ouo TuxLevy - Dn�quon Years 76,994.78 75,325.UU 77,000.00_ *51-0000-331-1000 Residual ww Homestead Credit ' 248,409.35 513,961.00 555,900.00 Other Miscellaneous Revenue *51-0000-3621000 Interest vn Investment Earnings 247,388.62 533 0.00 Total Revenues - Moore Lake Expenses Purchased Services 2,478.92 3,000.00 3,000.00 wm'0000-*oo~*oao Professional Services 2,478.92 3,000.00 3,000.00 Other Finance Uses 4m-nono-*rs-^rso Payments mp�muwovvummnnm(uuo4o and uouneonn�� 1,398,968.86 1,481,543.00 645,408.00 1,484,643.00 648,408.00 .Total Ex se� - Moore Lake *su' North Area (1nxz'2oou) Revenues City Revenues *52-0000o111000 Tax Levy 452-0000-311-2000 Tax Levy - Delinquent Years Other Miscellaneous Revenue *52*000-3e21000 Interest nn Investment Eummna 470,968.54 1,100,20&00 1,245,200,00 Professional Services Capital Outlay 484,743.88 1,100,206.00 1,245,200.00 Payments m Primary Governments (omwB and 2nooeBonds) 75,325.00 77,000.00 76,994.78 75,325.UU 77,000.00_ Total Revenues,- North a 1131,206.00' J, 9,100-00,' Expenses Purchased Services *52-0000-430-4330 Professional Services Capital Outlay 152-0000,431-*530 Capital Outlay (sannn Pay on you go) Other Finance Uses *52'0000~475-*750 Payments m Primary Governments (omwB and 2nooeBonds) '415,947 OD 1,304,580.00 ,Total Expenses -North Area z is,969.00 4,620-00 455' Lake Pointe (1985-2025) Unaudited Data ' For Management Purposes Only 2,359.00 3,5_00.003,500.00 76,994.78 75,325.00 77,000.00 76,994.78 75,325.UU 77,000.00_ 418,995.72 336,422.00 1,224,080.00. 418,995.72 336,422.UU 1,224,080.00.. '415,947 OD 1,304,580.00 ,Total Expenses -North Area z is,969.00 4,620-00 455' Lake Pointe (1985-2025) Unaudited Data ' For Management Purposes Only City of Fridley HRA Budget Fiscal Year 2007 City Revenues 458 -0000- 311 -1000 Tax Levy 458 - 0000 -311 -2000 Tax Levy - Delinquent Years Other Miscellaneous Revenue 458 -0000- 362 -1000 Interest on Investment Earnings 150,224.71 301,976.00 356,800.00 1,131.70 151,356.41 301,976.00 356,800.00 (980.34) 14,000.00 42,800.00 (980.34) 14,000.00 42,800.00 Total Revenues Onan 150,376.07 ° 315;976.00 399,600.00;; Expenses Unaudited Data - For Management Purposes Only 2006 Activity Account Description through 10/31/06 FY 2006 Budget FY 2007 Budget Revenues City Revenues 455 - 0000 - 311 -1000 Tax Levy 318,578.03 634,898.00 679,800.00 455 - 0000 -311 -2000 Tax Levy - Delinquent Years (645,0_26.13 (326,448.10) 634,898.00 - 679,800.00 Other Miscellaneous Revenue 455 -0000- 362 -1000 Interest on Investment Earnings (293.64 .__�_ 10,000.00 7,900.00 (293.64) 10,000.00 7,900.00 Total Revenues Lake Pointe (326 741.74) 644 898.00 687,700.00 Expenses Purchased Services 455 -0000- 430 -4330 Professional Services 2,542.60 10,000.00 3,000.00 2,542.60 10,000.00 3,000.00 Capital Outlay 455 - 0000 -430 -4536 Parking Facilities (Medtronic Pay as you 90) 228,977.28 410,206.00 611,820.00 228,977.28 410,206.00 611,820.00 Total Expenses Cake Pointe 231,519.88 , 420;206.00. 614;820.00 Net Income Lake Pointe (558,261.62) 224,692.00 72,880.00 456 - Winfield (1986 -2012) Revenues City Revenues 456- 0000 - 311 -1000 Tax Levy 27,792.87 55,541.00 65,100.00 456 - 0000 -311 -2000 Tax Levy - Delinquent Years 3.20 27,796.07 - 55,541.00 - 65,100.00 Other Miscellaneous Revenue 456 -0000- 362 -1000 Interest on Investment Earnings (549.58) 8,000.00 19,200.00 (549.58) 8,000.00 19,200.00 Total Revenues - 'Winfield ? 27,246:49 63;541.00 84,300.00 Expenses Purchased Services 456 - 0000 -430 -4330 Professional Services 887.65 1,000.00 1,000.00 887.65 1,000.00 1,000.00 Total Expenses, Winfield 887.65 1 0OO.OD 1,000.00= Net income-- Winfield : 26,358:84 62,841.00 83,300.00, 458 - Onan (1989 -2015) Revenues City Revenues 458 -0000- 311 -1000 Tax Levy 458 - 0000 -311 -2000 Tax Levy - Delinquent Years Other Miscellaneous Revenue 458 -0000- 362 -1000 Interest on Investment Earnings 150,224.71 301,976.00 356,800.00 1,131.70 151,356.41 301,976.00 356,800.00 (980.34) 14,000.00 42,800.00 (980.34) 14,000.00 42,800.00 Total Revenues Onan 150,376.07 ° 315;976.00 399,600.00;; Expenses Unaudited Data - For Management Purposes Only Purchased Services 458- 0000 - 430 -4330 Capital Outlay 458 -0000 - 431.4510 Professional Services Capital Outlay /Land City of Fridley HRA Budget Fiscal Year 2007 Account Description 2006 Activity through 10/31/06 FY 2006 Budget FY 2007 Budget 1,159.95 1,500.00 1,500.00 1,159.95 1,500.00 1,500.00 (83,203.56) - (83 203.56) Total Expenses Onan (82 043.61) 1,500.00 1,600.00 314,476.00 398,100.00 Net Income - Onan 232,419 68 462 - University/Osborne (1992 -2018) Revenues City Revenues 462 - 0000 - 311 -1000 Tax Levy 462- 0000 - 311 -2000 Tax Levy - Delinquent Other Miscellaneous Revenue 462 - 0000 -362 -1000 Interest on Investment Earnings 17,835.95 35,664.00 44,000,00 36,000.00 463 - 0000 - 311 -100D Tax Levy � 15,245.28 17,835.10 35,664.00 44,000.00 (133.53) 1,500.00 5,500.00 (239.34) 2,000.00 8,800.00 (239.34) 2,000.00 8,800.00 Total Revenues University/Osborne 17,695:76 37;664.00 52,800.00 ; Expenses Purchased Services 462 -0000- 430 -4330 Professional Services 1,282.62 1,500.00 1,500.00 1,282.62 1,500.00 1,500.00 Total Expenses = Universi ° fOsborne, 1;282:62 1;600.00 1500.00 Net Income- University/Osborn 16,313.14 " 36,164.00 61;300.00 463 - McGlynn (1992 -2019) Revenues City Revenues 15,245.28 30,691.00 36,000.00 463 - 0000 - 311 -100D Tax Levy � 15,245.28 30,691.00 36,000.00 Other Miscellaneous Revenue (133.53) 1,500.00 5,500.00 463 -0000- 362 -1000 Interest on Investment Earnings (133.53) __ 1,500.00 5,500.00 Total Revenues - McGI nn' 15,111:75 32,191.00 41,600.00 Expenses Purchased Services 463- 0000 -430 -4330 Professional Services 1,273.38 3,000.00 1,500.00 1,500.00 1,273.38 3,000.00 7777777 , .. -... > :1,273:38...... ; , 3,000.00. " 1,500.00 Total Ex enses -<McGi nw ° . . . 13,838:37 ; . ' �� 29,191.00" 40,000.00 Net Income - McG nm 464 - Satellite (1995 -2023) Revenues City Revenues 464 -0000- 311 -1000 Tax Levy 464 - 0000 -311 -2000 Tax Levy - Delinquent Years Unaudited Data - For Management Purposes Only 22,653.27 47,661.00 51,400.00 730.85 - - City of Fridley HRA Budget Fiscal Year 2007 Account Description 464 -0000- 334 -1000 Residual MV Homestead Credit Other Miscellaneous Revenue 464 -0000- 362 -1000 Interest on Investment Earnings 2006 Activity through 10/31106 FY 2006 Budget FY 2007 Budget 23,384.12 47,661.00 51,400.00 896.89 1,500.00 1,500.00 (324.98) 7,000.00 11,900.00 (324.98) 7,000.00 11,900.00 Total Revenues = ;Satellite 23,059.14 54,661.00 63,300.00 Expenses Purchased Services 464 - 0000 - 430 -4330 Professional Services 1,217.50 1,500.00 1,500.00 1,217.50 1,500.00 1,500.00 Total Expenses'- 'Satellite = 1,217:50 1,500.00 1;500.00':!. 21,841.64 53,161.00 Net income - Satellite-' 61;800.00 465 - Business Center (1996 -2006) Revenues City Revenues 465 -0000- 311 -1000 Tax Levy 465 - 0000 -311 -2000 Tax Levy - Delinquent Years Other Miscellaneous Revenue 465 -0000- 362 -1000 Interest on Investment Earnings 27,544.85 55,166.00 _0.36 - 27,545.21 55,166.00 - (673.95) _ 10,000.00 (673.95) 10 000.00 Total Revenues - Business Center 26,871.26 65,166.00 Expenses Purchased Services 465 - 0000 - 430 -4330 Professional Services 1,018.90 2,000.00 - 1,018.90 2,000.00 = Total Expenses - ;Business Center .1,018.90 2,000.OD: Net Income -Business Center :' 25,852:36 63,166.00 . 467 - 57th Ave (1997 -2023) Revenues City Revenues 467 - 0000 - 311 -1000 Tax Levy 467 - 0000 - 311 -2000 Tax Levy - Delinquent Years Other Miscellaneous Revenue 467 -0000 -362 -1000 Interest on Investment Earnings 10,053.11 20,516.00 23,300.00 (3.31) _ 10,049.80 20,516.00 23,300.00 (2.51) - (2 Total Revenues - -57th Ave 10,047.29' 20;516.00 23,300.00 Expenses Purchased Services 467 -0000- 430 -4330 Professional Services Capital Outlay 467- 0000 - 431 -4510 Capital Outlay (Linn Pay as you go) 896.89 1,500.00 1,500.00 896.89 1,500.00 1,500.00 17,040.00 14,777.00 17,040.00 _ 17,040.00 14,777.00 17,040.00 Unaudited Data - For Management Purposes Only City of Fridley HRA Budget Fiscal Year 2007 2006 Activity Account Description through 10/31/06 FY 2006 Budget FY 2007 Budget Total Expenses " w 67th Ave 17,936:89 16,277.00 18;540.00 r Net Income 57th Ave (7,889.60) 4,239.00 4,760.00 468 - Gateway East (2001 -2028) Revenues City Revenues 468 - 0000 - 311 -1000 Tax Levy 468- 0000 -311 -2000 Tax Levy - Delinquent Years 468 -0000- 334 -1000 Residual MV Homestead Credit 19,644.81 45,128.00 45,500.00 (0.47) - 19,644.34 45,128.00 45,500.00 Other Miscellaneous Revenue 468 -0000- 362 -1000 Interest on Investment Earnings (22.40) 1,400.00 (22.40) - 1,400.00 Total Revenues - Gateway East 19,621194 45,128.00 46;900.00 Expenses Purchased Services 468 -0000- 430 -4330 Professional Services 13,432.58 1,200.00 1,500.00 13,432.58 1,200.00 1,500.00 Total Expenses - Gatewa 'East E 13,432.58 1,200.00,', 11500.00 Net Income - Gatewa East' 6,189:36 43,928.00' 45;400.00 470 - Gateway West (Pending Information) Revenues City Revenues 470 - 0000 - 311 -1000 Tax Levy - 470- 0000 -311 -2000 Tax Levy - Delinquent Years 470- 0000 - 334 -1000 Residual MV Homestead Credit =— Other Miscellaneous Revenue 470- 0000 - 362 -4200 From Primary Government (CDBG Grant Money) 124,235.98 - 470 - 0000 - 362 -5100 Sale of Misc Property 130,353.87 262,500.00 348,0W00 468 -0000- 362 -1000 Interest on Investment Earnings _ - 1,400.00 254,589.85 262,500.00 349,400.00 Total Revenues 7. Gateway West 254,589.85 "" 262,500.00 349,400.00 Expenses Purchased Services 470 - 0000 - 430 -4330 Professional Services 29,584.01 20,000.00 12,000.00 470 -0000 -430 -4334 Advertising 115.50 470 - 0000 - 430 -4338 470 -0000- 430 -4340 Utility Services Services Contracted (Mowing Contract) 16,477.27 - 4,500.00 470 - 0000 -430 -4350 Payments to Other Governments (Anoka County - Property Tax) 4,533.96 2,500.00 50,710.74 20,000.00 19,000.00 Capital Outlay 470 - 0000 - 430 -4530 Improvements other than building (Final Asphalt) 171,675.94 500,000.00 50,000.00 171,675.94 5001000.00 50,000.00 Total Expenses - Gateway West 222,386:68 520,000.00 69,000.00: Net Income Gateway West 32,203.11T (257 ;500.00)" 280,400.00 501 - Housing Replacement (1997 -2024) Unaudited Data - For Management Purposes Only City of Fridley HRA Budget Fiscal Year 2007 Account Description Revenues City Revenues 501- 0000 -311 -1000 Tax Levy 501 -0000- 311 -2000 Tax Levy - Delinquent Years 501- 0000 - 334 -1000 MV Homestead Credit Other Miscellaneous Revenue 501 -0000- 362 -1000 Interest on Investment Earnings 501 -0000- 392 -0100 Transfer from Other Funds 2006 Activity through 10/31/06 FY 2006 Budget FY 2007 Budget 13,410.95 27,579.00 28,600.00 - 2,500.00 - 13,410.95 30,079.00 28,600.00 (228.97) 3,000.00 7,900,00 (228.97) 3,000.00 7,900.00 Total Revenues - Housing Replacement . 13,181:98 33;079.00. 36;500.00 Expenses Purchased Services 501- 0000 - 430 -4330 Professional Services 501- 0000 -430 -4340 Services Contracted (Mowing Contract) 1,690,93 3,0000 3,000.00 1,675.00 3,500.00 3,500.00 3,365.93 6,500.00 6,500.00 Total Expenses -Housing Replacement 3,365.93 6;500.00 6;500.00 Net Income -Housing Replacement 9,816:05 26,579.00 30,000.00 471 - Islands of Peace (Pending Approval) Revenues Other Miscellaneous Revenue 471 -0000- 392 -0100 Transfer from Other Fund 285,728.97 - 285,728.97 - Total Revenues - iIslands of Peace `.. 285;728:97 Expenses Purchased Services 471- 0000 -430 -4330 Professional Services 471- 0000 -430 -4346 Miscellaneous 30,510.46 6,366.88 36,877.34 30,000.00 10,000.00 - 40,000.00 - Capital Outlay 471 - 0000 -430 -4520 Building 235,818.90 235,818.90 235,000.00 - 235,000.00 - Total Expenses - islands of Peace`:,',. 272,696.24 i .`275,000.00 ' - Net income Islands of Peace,. - "13,032.73 , =i (275,000.00) . 701 - Investments Non - Allocated Interest 432,778.40 432,778.40 `Grand Total Net Income ' (921,7.60.87), 776;386:00 2,015;049.00 Unaudited Data - For Management Purposes Only Account Description General Fund Revenues City Revenues Tax Levy TaxLnvy - Oa|\nquendYeam Residual MV Homestead Credit Other MisceUenoueRevenue Interest on Investment Earnings Interest unMortgages Rent and Royalties Sale of Miscellaneous Property City of Fridley HRA Budget Fiscal Year 2007 2006 Activity through 9130/06 FY 2006 Budget FY 2007 Budget 171,38020 343,13&00 373,151.00 171,380.20 343,135.00 373,151.00 (8,250�32) 90,0000 222,500.00 5.80941 3.800.00 5.300.00 8.000.00 8.600.00 3.600.00 73,548.71 100,000.00 67,300.00 79,107.80 203,400.00 304,700.00 Total Revenues - General Fund 250,488.00, 546,535.00 677,851.00 , Expenses Ga�h Wages 18903OOD 189,830.00 25O50S0O 250,506.00 _ 0O 256,692,00 25GG9 Benefits 155B5O8 . 1�9G�OD � 2l125O0 Supplies and Materials 1.31448 67500 67500 Purchased Services 34.528.46 105.813,00 105.199.00 Other Finance Uses 285719.48 - - Expenses 526,98750 367,959.00 385,691.00 Total Expenses - General Fund 626,987.50 367,959.00 385,691.00 |� Mortgages 3Q383l0 . 45,000,00 45OOOOO 4500OOO . Transfers and Other K0\000UenouaReceipts 1797500 1400000 1400000 Net Income - General Fund (276,499.50) 178,576.00 292,1160.00 Housing Program Revenues Other N\isuo|enouaRevenue Interest on Investment Earnings ' (4.175.39) 65.000,00 122.900,00 |� Mortgages 3Q383l0 . 45,000,00 45OOOOO 4500OOO . Transfers and Other K0\000UenouaReceipts 1797500 1400000 1400000 53,182.69 124,000.00 181,900.00 Total Revenues - Housing Program 63,182.69 124,000.00, 181,900.00':L Expenses Purchased Services 281O854 . � OOO75O0 . � 500O0 . m 0�erFinonooUeo� 232133S 8742900 � 1996300 51,381.90 154,304.00 69,963.00 Total Expenses - Housing Program 51,381.90 154,304.00 69,963.00 Net Income - Housing Program 1,800.79 (30,304.00) �..1111,937.00 onmuditeoouta - pmMunaoemenpurpnseaonly Account Description TIFDisthcts Revenues City Revenues Tax Increment Tax Increment - Delinquent Years Residual MV Homestead Credit Other MisodksnousRevenue Interest on Investment Earnings Interest onMortgages Transfers and Other Miscellenous Receipts City ofFridley HRA Budget Fiscal Year 2007 2006 Activity through 9/30106 FY 2006 Budget FY 2007 Budget 1.591.81267 3,406087.00 3J11,40O00 (610.93&64) - - 974,879.03 3,408,587.00 3,711,400.00 425.731r 33 106,500�00 224.00&00 540,318.82 262,500.00 349,400.00 966,050.15 369,000.00 573,400.00 Total Revenues - TIF Districts 1,940,929.18 3,777,587.00 4,284,800.00 - Expanse Purchased Services Capital Outlay Other Finance Uses 122.723,42 96,20000 48,500.00 647.303.34 1.235.308,00 755.860�00 1,817,964.58 1.817,965.00 1,869,488.00 2,587,991.34 3,149,473.00 2,673,848.00 Total Expenses - TIF Districts 2,'587,991.34 3,149,473.00 2,673,848.00 Net Income - TIF Districts (647,062.16) 628,114.00 1,610,952.00 K Unaudited Data ' For Management Purposes Only o 'g, LL a m 0 M U 0 LL 0 — 0 m O 7) m Ci Ci U� CC) (D m N (D O M (D > tz a o$ '�a m m 0 ca C5 W 0 n Cli ED IL C., C% Clk 0 " G IL U: E 5 E 'o - m 0) 0 m t .0 0 m co w C-4 m .�W= E o -S ca L) tu g cr zt,QE WM8 0) m co m 4 2 L) 0 0 0 3: 0 1D :C0 cq Lq LO s m L) 17 4 C6 00 �o ;z 0 C-4 w 9 9 9 9 cr N m m 0 °o C? 4 C t 2! em- � to 0 LD 0 m O m < 0) m v N N 4 C, . 0 0 000000 0000 w 00�00�000 00 .200 loo 0 0 00000 0 0000000000 �T 00 5 0 Z 76 LL co (D N m (71 J Ci m co w w CD 0 0 E m r.: m .0 m co w m act U) m cri Ci N N m W) 0 w CD Cj C-4 m m W N R U� Wi rl� Ci q 0 C', . . 11 v to m 0 o C') Q M r- C� m c Lrk r, W; 0 U) w m to > N .0 W T N 0 v > M Ct m 0 o N to 0 M cq 00 O Vi CD m m m 10 C ID 0 It 0 m to E 'MVV Iq C t m 10 cn 0. co ID f- 0 m m M m q q m N m m m N cq m m m OD owvmmmm LOM m LL 10 10 m m m co M m Ct V: 0 m 0) co 0 Irk C" Lq m Iq — co Cl) m -1 oi (D O 7) N O M (D > tz a o$ '�a m m 0 ca u? W U- ED IL C., 0 " G U: E 5 E 'o - 0 t .0 .�W= E o -S ca L) tu g cr zt,QE WM8 o 2 L) 0 0 0 3: 0 1D :C0 cc U. z wo*c)o 0� m L) �00� 0000 0 00-0000000 000�2000000 00 �o 0 0 9 9 9 9 0 00 00 C-1 — C1,14 L�o 0 °o C? 4 4. C6 d, MM&C66 cb 0 LD 0 m 7 6 6 6 6 :E 6 6 6 6 6 6 6 6 = N N r-00 m 00 C, . 0 0 000000 0000 w 00�00�000 00 .200 loo 0 0 00000 0 0000000000 �T 00 5 76 LL O 7) m o 0 0 = d o y v u y n U. m m u m y 0 m LL O U rn m ? d 7 C N O ONi Ni. Cl T o N N m n N N N. N N N Ci co i m a i r 0) � m w o 0 o n a roi ti C.) i M rn 0 A p ;rs O O o COD m <0 0 to co f°o co m O N n n [t fD Q C-4 C n N Ci nw, m um N n U) m V om om m n r M1 n o m N tD N (d y U m W 7 CID o O O O M It n n n m m to o m N N N N N N O A to rn n o r> N n co v M C M O co W Co � N cl T CO> M M C7 i r D 0 N LO ti of v� o o ° v (Dm O W N 0 O � y N N CN N G n� CO D> Ic v v C w to Cl) G O � O O ry .N.. O U � C U y N d U O N N C, s m c ma moo . m L C GO .o N ° ca a U° w m a c v c? o e' fn m N G LL N 7` U LL m d CL ° 'c LL c N rn a. 'o _ .y w v$ d o° o c m aci Q,a E cOa € �UU d m o Cm° O D N C N N N 'C p N N d m C y +gy p. Co N CU L) 0 d) ty d N w L 7 N 00;0000000 O O W O O U 0000 N 0 0 0 0 0 0 0 0 0 00 O O O �- N M V' N O 0 0 loo C O O O O N 0 0 N N N O O O m d m 2mr � d 000So d o and m6 � co CD U pr Or L N O .N- N M y N N N N N N N N N N +- V N N o o m o 0 o d o 0 66666666 = c o o m o o p Q o 0 0 o p w y o 0 0 0 0 0 0 0 0 0 ;o W o o 0 0 o o 0 0 00 0 0 0 0 0 0 0 0 m m o o L O O ry 0 0 0 0 N d 0 0 0 0 0 0 0 0 0 o m 0 0 C to J F- LL N O d e a' E 9 M 0 e' a E a v n O st O ((? M O M o (D r O N V; n O (� O o (D 0 ... W (D M .0 N (D (n 7 M (D ,) N O 4 (O (D (O O m 00 y 'O G r 01 G (D M M O N M (D V' 7 (O r _. n O r of ui M �t D7 o M M t� f` M (O 0 M �-- (n (O O 01 t0 '- 01 O M O N r n V- O V) (D (V (7 D1 M O (D O> �- M 7 O Q U'1 47 •-- M M V' M T M o D n o q ° 'Clot ri r o N m c d M (OD M .°y. V ti n ry C (D O G W °? i°• r o c c N N � co N ° N (D ai aJ v co N O O r r Oi O o x c. d x M M r r H a O O M M a+ m O O N (� N a n' y � d " ° O O U 0 21 G m m � Od n Q E U Q } O d C_ U Y d N N a C N D C7 N X 0 0 (� C N N Z` N tV O G7 L:l (n a K O U- fa N W C ca �° c C D U N o O L M w _ d (pppEL N O O b y U O O N y c S c E O D. Si y` U U m m cg c 00S0 tLZ N W > L 7 Q o O W O O N N U 0 0 0 0 0 0 0 0 si 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O o y 0 0 O O O O N O O O^ N N N O °° `- N O O C D W N O o d 0 O d moo O O 000 O O O O O o000000000 o O O O o O O o O o a moo 0 0 L O O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 J m 0 0 p o O Q t1. 0 e' a E a v Debt Payment Schedule PER TIF District Cash Balance 10/31/06 Second half 2006 Tax Increment 2007 Tax Increment 2007 Debt Payment 2008 Tax Increment 2008 Debt Payment 2009 Tax Increment 2009 Debt Payment 2010 Tax Increment 2010 Debt Payment 2011 Tax Increment 2011 Debt Payment 2012 Tax Increment 2012 Debt Payment Fridley HRA Debt Service /Bond Payments For Tif Districts 1,2,and 3, 2006 through 2012 Expire 2009 Expire 2007 TIF #1 TIF #2 Center City Moore Lake 1,367,889 (158,901) 261,905 248,409 579,800 555,900 - (645,408) 579,800 - 579,800 (893,654) - (604, 906) (608, 003) - (618,159) - Expire 2008 TIF #3 North Area Total 1,597,164 484,743 1,245,200 (1,224,080) 1,245,200 (1,859,015) (882, 841) 2,806,152 995,057 2,380,900 (1,869,488) 1,825,000 (1,859,015) 579,800 (1,776,495) (604,906) (608,003) (618,159) Approximate Ending Cash Balance 644,472 0 606,371 1,250,843 *Allocations derived by trying to use up cash on TIF #2 first followed by TIF #3 and then TIF #1 *Please note that we are projecting a cash surplus of roughly 1.21VI after the debt service is paid back I lillilliq 111lill OPIUM ?10�1 11 16==� M rim t • a" Convened by the Center for Neighborhoods 2600 East Franklin Avenue http://www.center4neighborhoods.org/ Minneapolis, MN 55406 info@center4neighborhoods.org 612-339-3480 Aims The Corridor Housing Initiative is a proactive planning process to create viable development projects that include affordable housing options along corridors and meet city goals and neighborhood interests. People • Community Partners • Technical Team: Coordinators: Center for Neighborhoods Facilitators: Center for Policy, Planning and Performance (CPPP) Design: Metropolitan Design Center Development: Central Community Housing Trust, Dewar Associates Government Agencies Common activities across most corridors • Steering Committee meetings with community partners and technical team over approximately six months • 'Block Workshop' exploring design and financing options for sites in the neighborhood, often held at an existing public event such as a farmers market or festival • Local property owner and business owner focus group • Marketing meeting with developers • Access to resources about design and development issues—including housing density, types of housing, housing finance, and planning Final outputs Special activities as needed and within budgetary constraints • Visual preference surveys conducted at existing events such as a festival, or in an active place such as a supermarket • Workshops or questionnaires to solicit community values • Summaries of previous plans • Educational workshops on building height and scale, pedestrian- oriented design, affordable housing, and livable neighborhoods • Informational web sites and online surveys Neighborhood tours Development guidelines or principles handout developed by steering committee, aimed at helping developers understand local opportunities and values • Neighborhoods better prepared to negotiate with developers What it is not • The Corridor Housing Initiative is not a master planning process but can be integrated with such processes. Metropolitan Design Center I College of Architecture and Landscape Architecture I University of Minnesota July 21, 2005 1 Rai)son Hall, B9 Church St. SE, Minneapolis, MN 55455 wwwdesigncenterurnn,edU Funded inPan by The McKnight Foundation M, a. 0 0 m V) 0 0 0 r- CL' 0 E E 0 U U C C (U L- 4-1 4-J Ln CL CL • ••• cu 0 C z ; (U to 4.J CO C 4-J • 4-J u Ln 4-d LA -a :3 i- 0 -&-j 4-. 0 ET C: C: tn 0 4- a C: 4-J r- 4n ZE c fri on 4 (U On LM U on C- c U :3 u V; 0 E Ln Q) u Q) "a 0 44 c 4-J :3 Ln 4-J (A on 0 0-60 on 0 0) U 4-J c -- 4-1 c- = o 4� an 4-J -Ij 0 c C L. 0 0 c Ln Q) 3: 4-d Ln -0 0 0 •r= On 4-J Ln u C: E x = C= on w E C: 0 Z:; ro w c vi :3 CL 4-J C ru ;5 4--J M 0 rt� Ln 0 0 Q, e- o (U 0 0 u C: -0 =i a ol a 0 > E C: c L. w (A C: 0 0 — 0 V) U- 3: u Ln U -0 0 > Q) 4-J U 0 0 -0 ro 0 cu::E 0- ru 0 0 0 4— 4— r- ' 4J r 0 F- L- C: CL 42 'E -Ei cL 0 - 0 -0 -0 u " --o Q) > Qj M 4-J W .�:.w 4-J 0 > 4-J 4-J L" .0 C: 4b M E D 4-;, -E E LZ 4 .4-J a-0 u 0 Q) ra U L- U 0 u a) L -.@ ra a (1) ro 4-J u a) o c: _0 4-J 0 M 0 4- C Q) U 0 ••• cu 0 C z ; (U to 4.J CO C 4-J • 4-J u Ln 4-d LA -a :3 i- I- 0 aj on 4-J c On tA a V) r_ 7 a) = c E 4-J 0 '- 1 4-� 4.j Ln 0 -o E c 0 L- 0 cu Q) CO 4- U .0 Q) 0 0 E 2 U 75 Q) o 0 O> " N 0 r- r 0 c 0 CL 0 0 0 4-J 0 41 0) Ct fli Ln 4- 4-J L- tn N N 0 N 4- 0 W 0 4--J (U — — — c- 0 4-J C: tn 4-J (0 C on a aj 4-J — 0 aj r- 4- (a 0 r c: w on 07 4-J Q) 0 > 0 , fO 4- Ec 4-J C: c cu Ln 0 a 0 0 0 0 Q) 4- •_ >, C: Ln L- (U 4- 0- E 0 - 0 r- a) ' L- 0 4- 0 -E > 'o 'n _ 0 a) o Ln 0 o U- u to (D — 4-J E L- On (U Ln • 4-J Q) 4-j Ln :3 u 0 *Z 4-J ra C 0 O on > E 0 (u o 0 Ln Ln 4-1 < rou 0-0 w c 0 0 • • � on -0 Lh Z 4-J (U in %D 0 0 C: N N (U 4-J E E u C u C 0 a c c c w 0 0 0 0 0 w w w w 0 41 U- :3 z 0 C: 0 Z -i-O E L- 0 CO L- 0 U- 4-J 4-J 4-J C: 0 u a) RS "I In co T- x 0 co lq- M C� rn M 4-J M on 0 V; "0 0 0 0 -0 -C an Q) c dL c a) u 4- @) M ul 0 E Q) c: u4-J L L1 0 on 0 -&-j 4-. 0 ET C: C: tn 4-J r- 4n ZE c fri on Ln "a (U On LM U on C- c U :3 u Q) 0 u 0 E Ln Q) u Q) "a 0 44 c C:F c 0 :3 0 0 CU L- (A on U 4-J c: 0 0) U 4-J c -- 4-1 0 = o 4� an 4-J -Ij LA (Z 4� -C > C L. 0 0 c Ln Q) 3: 4-d C) -a On 4-J Ln u on L- x = C= on w E on ro w c o C: m :3 75 on 2 4-J C ru ;5 Z :6 0 Q, e- o -0 4-J = Lo- 0 CL E > 0 CU Ln U 4-1 U, W C: an C: c L. w (A %,- ,:� U -6 o 0 — 0 u Q) — —"a u Ln U -0 U 0 0 4-J 0- ru 0 0 0 L- -0 r- ' 4J r 0 C C Ln Ln 42 'E -Ei cL 0 - 0 -0 -0 u " --o Q) > Qj M 4-J W E E -0 4-J 4-J L" .0 C: 4b M E w c: = > ro 0.- U E .4-J a-0 u 0 Q) ra U L- U 0 u a) L -.@ ra a (1) ro I- 0 aj on 4-J c On tA a V) r_ 7 a) = c E 4-J 0 '- 1 4-� 4.j Ln 0 -o E c 0 L- 0 cu Q) CO 4- U .0 Q) 0 0 E 2 U 75 Q) o 0 O> " N 0 r- r 0 c 0 CL 0 0 0 4-J 0 41 0) Ct fli Ln 4- 4-J L- tn N N 0 N 4- 0 W 0 4--J (U — — — c- 0 4-J C: tn 4-J (0 C on a aj 4-J — 0 aj r- 4- (a 0 r c: w on 07 4-J Q) 0 > 0 , fO 4- Ec 4-J C: c cu Ln 0 a 0 0 0 0 Q) 4- •_ >, C: Ln L- (U 4- 0- E 0 - 0 r- a) ' L- 0 4- 0 -E > 'o 'n _ 0 a) o Ln 0 o U- u to (D — 4-J E L- On (U Ln • 4-J Q) 4-j Ln :3 u 0 *Z 4-J ra C 0 O on > E 0 (u o 0 Ln Ln 4-1 < rou 0-0 w c 0 0 • • � on -0 Lh Z 4-J (U in %D 0 0 C: N N (U 4-J E E u C u C 0 a c c c w 0 0 0 0 0 w w w w 0 41 U- :3 z 0 C: 0 Z -i-O E L- 0 CO L- 0 U- 4-J 4-J 4-J C: 0 u a) RS "I In co T- x 0 co lq- M C� rn M 4-J M on 0 V; "0 0 0 0 -0 -C an Q) c dL c a) u 4- @) M ul 0 E Q) c: u4-J L L1 0 on Qj ru Q Q ET C: C: tn Ln 4n ZE O On a 0 Q) C) > Q, U :3 u AM-1 Housing & Redevelopment Authority Informational Item CITY OF FRIDLEY Date: December 1, 2006 To: Dr. William Burns, Executive Director From: Paul Bolin, Asst. Executive HRA Director Subiect: Gateway West — Update Big changes continue in the Gateway West neighborhood. This past month Blueprint obtained building permits for the next two homes and expects to start construction immediately. Despite a slow down in new housing starts, this project continues to receive interest. The project is being featured in the upcoming "Community Development Journal" set to begin showing this weekend on channel 17. If you have a chance to view the show please do. Julie Jones did a very nice story on the project and even interviewed one of the new homeowners. "The City Council approved the Gateway West 2nd Addition at their November 13 th meeting, pending County approval. Attorney Knaak met with the County's title examiner, Dulcie Brand, on November 21st and reports that "She indicated she thought she had everything she needed to issue the necessary directives." This will allow the 2nd Addition Plat to be filed and Blueprint to purchase these lots from the HRA. The fence project is complete and I will be doing a final "walk-through" inspection with the contractor next week. The correct pier caps for the 6' bollards arrived November 6 th and were installed the next day. A slide-show update will be provided during Thursday's meeting. Fridley HRA Housing Program Summary Cover Page December 7, 2006 HRA Meeting Report Description Loan Application Summary Loan application activity (e.g. mailed out, in process, closed loans) for November 2006 and year-to-date. Loan Origination Report Loan Servicing Report Remodeling Advisor & Operation Insulation Loan originations for November 2006 and year-to-date. Loan servicing by Community Reinvestment Fund (CRF) for the month of October. Note, that the loan servicing reports are usually available 10 days after month end. Shows the number of field appointments scheduled and completed the Operation Insulation and Remodeling Advisor Services administered by Center for Energy and Environment. H:\—Paul's Docurnents\HRA\HRA Agenda Iterns\2006\Novernber 2, 2006\Housing Program Cover Page(Nov06),doc Fridley HRA Loan Origination Report November 30 ,2006 Loan / Grant Originations 4 8% Kitchen remodel 2 4% General plumbing 3 6% This 9 Previous Electrical system 4 8% Basement finish Month 0% Months YTD Loans Issued 5 - Misc. interior projects 11 4% 11 Deferred Loans Issued - 4 6 Roofing 6 8% Total 6 13% 17 17 Funding Sources 1 2% Landscaping 3 6% Misc. exterior projects 1 2% This Previous Month Months YTD Fridley HRA $ - $ 198,217 $ 198,217 MHFA $ - $ 60,809 $ 60,809 Met Council $ - $ $ - CDBG /HOME $ - $ - $ - CEE $ - $ 18,145 $ 18,145 Other $ - $ $ - Total $ - $ 277,171 $ 277,171 Types of Units Improved This Previous Month Months YTD Single Family - 22 22 Duplex - - Tri -Plex - 4 tD 9 Units - 10 to 20 Units - 20+ Units - - Total - 22 22 Types of Improvements Interior # of Projects % of Total Bathroom remodel 4 8% Kitchen remodel 2 4% General plumbing 3 6% Heating system 9 19% Electrical system 4 8% Basement finish - 0% Insulation 0% Room addition 5 10% Misc. interior projects 2 4% Exterior Siding /Fascia /Soffit 4 8% Roofing 4 8% Windows /Doors 6 13% Garage 0% Driveway /sidewalk 1 2% Landscaping 3 6% Misc. exterior projects 1 2% W V it 'CD v L- 0 v+ ■may Q 0 ^E^+ LL. i.. 0 e� O r N O = M = 0 a) M. .0 CD o CL �0 m m E m r Cp 07 M N LO N M r r 0 0 m O O QU Q N � d � O r CD M M N LO N M r r 0 0 co .O Q. 0 Q. 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M r_ q 0 o :3 m o o �r. ca LLJ > CL LL. _j cr 0, o m W W c r- o 0 .2 -=5 o .0 o 0 CL (D co o) 2 M T T Co M a) t; at 'S o u :3 :3 (D m > a) C Mn o a) a) a) > W , Ln (D D a Mn cL O o LL, Cr 0 w 0 0 x LL Co Cl) (D IT ll� 00 CO O OD (o rz: c1l a CO to (o o <— It (D c\l v — a) (o (o CT) CT> 0) 'IT (D z > oo U) rn a o 00 C? C� CO m �2 E E E E cn 2 CL 2 Ca 2 IL o C 5: a C m o c w C w m o CD :R _j a) Cu :3 (n 8m S a) O o w 2 c cL x 2 0 E o w 2 x o 3: W (D Mo o r_ o w 'a —o > u) a) — c Q) (x a) co o .0 E O u a) U o 0 m 0 m �4 0 4) 0 LL co _j In Fridley, a utopian vision for housing Page 1 of 2 IStarTribunexom i muqNFAPOLIS - ST.,PAUL. MINNES Last update: November 14, 2006 — 3:54 PM In Fridley, a utopian vision for housing At a new community in Fridley, residents will rely on one another -- governing themselves, preparing meals together, sharing child care and more. Sarah Moran, Star Tribune A developer and residents in Fridley want to buck the isolation of a garage-door- goes-up, garage- door - goes -down lifestyle. Island Park will be the first new cohousing development in the state in years -- a close-knit place where a self-governing group of neighbors might share a community garden, gather for a movie night or even forage for food in a shared plot filled with chestnut trees, raspberry bushes and strawberry plants. The residents might chip in for a few kayaks to use on the Mississippi River, which passes nearby. There's talk of an exercise room and meditation room. Need to use a circular saw or find child care? There could even be shared power tools and baby sitters. The community has started to take shape in existing apartments and duplexes that are being renovated by developer Grant Rudolph. "It's really refreshing to have some real conversation and just to relax and have fun with your neighbors," said resident Kevin Broughton, who has attended a few Monday night dinners in the community room that's shared by all. "I love that idea of being part of a community where you're kind of getting back to old- fashioned values where you know your neighbor and your neighbor knows you." Shared values are part of the appeal, and an environmentally friendly lifestyle is a selling point. Solar water heaters have been installed on the roof of one building, and a wind tower to generate energy could be on the way. Responsibility is part of the deal, too. Residents are expected to pull their weight by helping out with gardening, for instance, and contribute to community spirit by getting to know the neighbors and taking part in group activities. "I think working together in a cohousing situation, a community setting like that, is genuinely beneficial financially but also spiritually and mentally," Broughton said. A response to sprawl The idea started in Denmark, where there are now about 400 communities, and spread in the United States in the early 1980s. Monterey Cohousing in St. Louis /9 littn-//ww-w .qtn-rtn'hiine,cornJI42/v-Drint/stoi-y/808047.htmI 11/28/2006 07/15/97 TIDE 10:20 FAX 612 885 5969 BRASS MONROE ... FRIDLEY 4 002 Community Development Department HOUSING AND REDEVELOPMENT AUTHORITY City of Fridley DATE: May 7, 1992 TO.* William Burns, Executive Director of HRA FROM: Barbara Dacy, Community Development Director SUBJECT: Final Version of TIF Policies Attached are the amended TIF policies agreed to by the HRA and city Council at the joint meeting on April 9, 1992. The HRA members may want to file these in an easily retrievable location when TIF applications are submitted for their approval. BD: ls M-92-311 07/15/97 TUE 10:21 FAX 612 885 5969 DEFINITIONS - PAGE 2 BRASS MONROE 4 FRIDLEY 9. Administrative costs including supervision, contractors fees, inspection fees, and overhead 10. Consultant's fees including architectural /design, engineering, financial consulting, and legal/bond counsel 11. City assessments, including sanitary sewer, storm sewer, streets, and any costs listed above that are assessable 12. contingency 13. Interest rate buy-down for housing only E. Project Costs are the cost of land, building, and equipment that are incurred within the first year from the start of project construction. Z004 EP 07/15/97 TUE 10:22 FAX 612 885 5969 KRASS MONROE 4J a a� A O > � 0 cR b 0 GG CG W EQ a oW rA a W Q w O W E-1 O cv a 0 0 > H N x Q U ' O H {~ H O H U W O tr� s~ UI 0 4-j 4 N •.a N dA o� 0s O Ln L1 ul A4 H x H •`� as U U 34 -H dA op dP W to to 1n (4-4 O 0 U H to 4J Cko ov 6p to to in H *d H is r. .,.1 0\p d? dA In U) 0 x � 0 td U .,- .,.q 0 4 P w da dP dP O U1 Lo Lo H 0 U H N -P 0\0 dM oW fnLo Lo U) H b H O tr� i N UI 0 4-j 4 N N u f4 o rz u 1 c� a A4 41 N O U 4J U 0 -n 0 i4 a 0 +J P4 N d) tT O U f4 Q) CL r-1 W H O z aaa FRIDLEY Z006 8Z 11/20/2006 14:45 612+305+1414 4 97635711287 N0.606 P002 COUNTY OF ANOKA. OFFICE OF COUNTY BOARD OF COMMISSIONERS November 15, 2006 Lawrence Commers, HRA Chair City of Fridley 6431 University Avenue NE Fridley, MN 55432 Dbar'W Commers, GOVERNMENT CENTER 2100 3rd Avenue • Anoka, Minnesota 55303-2265 (763) 323-5700 OFFICIAL NOTIFICATION Minnesota, Statues Section 469.1082 allows metropolitan counties to form county economic development authorities. The statute allows the county to exercise this authority only if a committee appointed by the county board to study the issue recommends that it do so. The Anoka County Board of Commissioners will appoint an eleven member Economic Development Exploratory Comn*tee at the December 19, 2006 County Board meeting. Minnesota Statutes require that at least one city official, one housing and redevelopment official and one township official from the county shall be included on the committee. Members may also represent school district, political subdivisions that provide services under housing and redevelopment or economic development authority statutes, nonprofit or for-profit housing and economic development organizations, businesses, and labor organizations located within the county. Political subdivision representatives will be nominated by their local governments and must constitute at least 50 percent of the total committee membership. The county may appoint no more fl= two county commissioners. Six (6) representatives nominated by local gow=ents are needed to serve on the eleven (11) member Exploratory Committee. Anoka County is seeking nominations from all of the County's cities and townships. Committee members will meet three times in the first quarter of 2007 to complete the evaluation process. At the end of the exploratory period, the committee will issue a report recommending one .of the following alternatives: • Establishment of a county economic development authority • Requiring an existing county housing and redevelopment authority to exercise economic development authority powers • That the county pm-sue special legislation • No change in the existing structure We urge you to nominate one or more community representatives or elected officials. If submitting multiple nominations, feel free to make copies of the nomination form. Please complete the attached nomination form and return it by Thursday November 30, 2006, Sinc oly, Dmuis Berg Chair, Anoka County Intergovernmental Committee .-f" I (172 SUPPORTING INFORMATION J I L3 Y Im"I INDUSTRIAL EQUITIES TIF REQUES CrrY OF APPROVED - NOVEMBER 2,2006 FRIDLEY Date: October 25, 2006 To: HRA Commissioners, HRA Files From: Paul Bolin, Asst. Executive HRA Director Scott Hickok, Community Development Director Subject: TIF Assistance for Industrial Equities — Supporting Information The purpose of this memo is to describe the reasons for the level of TIF assistance approved for the Industrial Equities project at 5110 Main Street. The Project Mr. John Allen of Industrial Equities purchased the former Guardian Building Products site at 5110 Main Street in the spring of 2006. Mr. Allen anticipates a high cost for demolition, soil corrections, and site preparation necessary for him to proceed with the construction of 202,000 — 242,000 square feet of new office/warehouse space on the site and requested $1.5M in TIF "pay as you go" assistance from the HRA. The developer anticipates total development costs of at least $12.8M - $15M dependent upon final design. The HRA's $1.5M in assistance, to be used for soil corrections and demolition, account for 10% - 11.7% of the total development costs. Justification for Assistance The amount of TIF assistance that is being requested simply makes this site competitive with undeveloped land in outer ring suburbs. But for the HRA providing assistance with the high cost of demolition, soil corrections, and various site improvements this site would not be redeveloped. The HRA's TIF policies are guidelines for assistance, not law, subject to change based on "redevelopment priorities and projects. The guidelines may have to be exceeded based on the projects contribution to community needs" (Fridley HRA TIF Guidelines). This project makes significant contributions to addressing community need, summarized in the following points. 1) Increased employment. Mr. Allen has suggested that one potential user Would employ over 200 persons at this site. FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY December 7, 2006 Assessor, informed me on Tuesday that Il Kim Kuen (owner of Tae Kwon Do) is upset over the increased value of his property and told her repeatedly that he would "gladly sell his property for the assessed value" in a conversation she had with him earlier that afternoon. 4. TIF Guideline Changes Given the complex nature of redevelopment projects staff will be working with Attorney Casserly to examine the need for potential changes to the HRA's TIF Assistance Guidelines. These guidelines were last revisited in 1992 and may need some updating, specifically as they relate to redevelopment projects. The 2002 property tax changes significantly reduced the amount of TIF available from our redevelopment projects and will also be taken into consideration as we review the guidelines. As the City continues to age and industrial sites are redeveloped, we may need to fund a larger percentage of the costs in order to bring our land costs in line with undeveloped sites in outlying suburbs. We will bring forward any suggested changes for discussion early next year. A copy of the existing policies is attached. 5. Anoka County E.D.A. Anoka County is once again contemplating the establishment of a county economic development authority. State Statute allows the creation only if a committee, appointed by the County Board, recommends that it is created. Though it has not been formally stated, I am guessing that the EDA and its tax levy would be used for the Vikings Stadium (not likely to happen — see attached Anoka County news release), possibly for some aspects of Northstar, and other high visibility projects of county -side significance. The County has requested that Fridley nominate a representative to sit on the EDA Exploratory committee. The City Council instructed Dr. Burns to submit Councilmember (and new HRA member) Billings as the representative for Fridley. The County will select membership of the committee on December 19`x'. I have asked our newest Cotntnissioner to take a few minutes after next weeks meeting to discuss the potential EDA. 6. Industrial Equities — TIF Assistance Follow -up During last months meeting, Chairman Cointners requested that staff provide written documentation for the file regarding the level of TIF assistance provided to Industrial Equities. In consultation with legal counsel, the attached memo titled Supporting Information Industrial Equities TIF Request Approved — November 2, 2006 was prepared and placed in the HRA files for this project. If there are any items you would like covered in upcoming issues of the Non- Agenda Update please send me an e -mail. bolinp @ci.fi-idley.mn.us rM