HRA 03/06/2008 - 6352-Pu 61 1, C
March 6, 2008
HRA Meeting
Regular Meeting Agenda
7.30 p.m.
City Hall, Council Chambers
Call to order
Roll call.
Action Items
1. Approval of expenditures
2. Approval of February 7, 2008, Meeting Minutes
3. Approval of Rail Station Site Appraisal
Informational Items
Northstar Rail Project Update
2. Gateway NE Update
3. Monthly Housing Report
Adjournment
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CITY OF FRIDLEY
HOUSING AND REDEVELOPMENT AUTHORITY COMMISSION
February 7, 2008
CALL TO ORDER:
Chairperson Commers called the Housing and Redevelopment Authority meeting to order at 7:28 p.m.
ROLL CALL:
Members Present: Larry Commers
Pat Gabel
William Holm
John Meyer
Member Absent: Steve Billings
Others Present: Mike Jeziorski, City Accountant
Paul Bolin, HRA Assistant Executive Director
Jim Casserly, Development Consultant
William Burns, HRA Director
Scott Hickok, Community Development Director
ACTION ITEMS
1. Approval of Expenditures
MOTION by Commissioner Meyer, seconded by Commissioner Holm, to approve the expenditures.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE
MOTION CARRIED UNANIMOUSLY.
2. Approval of January 10, 2008, Meeting Minutes
MOTION by Commissioner Holm, seconded by Commissioner Gabel, to approve the minutes.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE
MOTION CARRIED UNANIMOUSLY.
3. Approval of Purchase Offer for Gateway NE Property
Paul Bolin, HRA Assistant Executive Director, stated the property is located just south of 61St Avenue on
the east side of University Avenue. There is a frontage road that comes around on the south and east side
of the site and has been previously used as a Sinclair gas station. Now he believes it goes by the name,
Fridley Gas and Shop, and still has the Sinclair signage.
Mr. Bolin stated this past November the HRA did have an appraisal done by Lake States Realty of White
Bear Lake. They put a value on the property based on like sales of $305,000. When they brought this
item before the HRA in December, there was a discussion regarding the value of the appraisal and
whether the HRA should make an offer based on that appraised value. No action was taken that night.
They have gone back and examined what they are required to do about the State statutes. The HRA is not
necessarily bound to use an appraised value and can also use an assessed value if they so choose to.
However, the HRA's practice has been to use that appraised value, have an independent third party tell us
what the property is worth, and use that as the basis for our purchase offer. On some occasions some
properties come in higher than maybe we think they should. Overall he believes it does save them
money. They have not negotiated upwards from our appraised values. Commissioner Billings had the
strongest feelings about the appraised value on this site. He did send an e-mail stating his belief that this
property is overvalued and, if it were up to him, he would actually wait until some future date when they
actually need the property to move a project forward.
Mr. Bolin stated Dan Wilson from the Wilson Development Group (the relocation consultant) has finally
had a chance to get out and actually meet with the tenant that is in the Sinclair station and meet with the
owner of the property. They have agreed and identified a payment of $20,000 to pay for relocating the
existing tenant. The payment of moving expenses in this instance (and is usually the case) is much
cheaper than paying the actual moving expenses, and the payment goes directly to the tenant. With that in
mind the purchase agreement would include the relocation package. Also in this case they would reserve
the right to investigate the soil conditions; most likely do a Stage II environmental study, drill a couple of
holes, and see what is actually down in the soils. The records at City Hall and the Fire Department
indicate in the past there had been some relatively minor concerns with gasoline leakage. There was a
spill on this site in 1991, and in 1999 the Pollution Control Agency said it had been cleaned up enough
that they were not concerned about it anymore. However, it might be worth spending a couple thousand
dollars now to identify anything there that may cause us potential problems down the road or prevent
certain types of construction from happening on this site. If the soils are absolutely terrible, then perhaps
we do not want to buy this property at this time.
Mr. Bolin stated also per the purchase agreement, they would require the removal of all vehicles and
personal property from this site. It seems there are a couple of vehicles that have been sitting on the site
for most of the winter they just keep plowing around. If we do acquire the property, we do not want to
get stuck getting rid of those. Staff does recommend making an offer to purchase in the amount of
$325,000, $305,000 would be for the building and $20,000 would be for the tenant relocation. Further
they would recommend that both the chair and vice -chair be authorized to execute a purchase agreement
if they get one in place prior to the March meeting. Commissioner Gabel is the vice - chair, and he
understands Chairperson Commers may be out of town a little bit over the next month so they would like
to have somebody else that is authorized to sign these agreements as well.
Commissioner Meyer asked, why not get soil borings immediately because that could radically affect the
costs from their standpoint or that of the owner. Should that not be known before they sign any final
agreement?
Mr. Bolin replied, it would be nice to get on this site beforehand; however, not just on this particular
property, until there is some sort of purchase agreement the property owner does not want them on this
site digging holes. Anything they find they have to report, so they want some reasonable assurance the
HRA really does have an intention of purchasing this site before they will let us go on and start boring.
Commissioner Meyer asked, is that true of this particular owner or just a general statement?
Mr. Bolin replied, it is his understanding that it is fairly general and common, but it is definitely the case
with this particular owner.
William Burns, HRA Director, asked could they not make the purchase agreement contingent upon a
clean bill of health upon examination.
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Commissioner Gabel stated that was her thought, too. She would like to see that.
Chairperson Commers stated keep in mind there is gas station cleanup assistance from the State of
Minnesota.
Jim Casserly, Development Consultant, stated special petroleum clean up funding is still operating to the
best of his knowledge. This is an agreement that would have a contingency in it that you would have to
have an acceptable environmentally -clean parcel or they would have to escrow an adequate sum to make
it that way. They can draft it a couple of different ways. Clearly they do not want to buy a piece of
property and then have to invest $75,000 in it to clean it up. He believed the property owner could also
access the special funding.
Commissioner Gabel asked whether there is money available in the petro fund?
Attorney Casserly stated in any event they would have as a condition of purchase the environmental
issues would be determined as cleaned. If they were not, they would have the option to withdraw from
the purchase agreement or the seller would have the option of escrowing sufficient funds to clean the
property up. We would assist with trying to get reimbursed from the petro fund. They can certainly
check on the fund, but it has been a very good fund over the years to clean up.
Mr. Bolin stated the City actually accessed the petro fund with the Texaco site that was on East River
Road. When he checked towards the end of last November, early December, when they first talked about
this item, there was funding in that fund. He would not be surprised if there were some minor levels of
contamination.
Chairperson Commers stated there is always a lot of debate about the value. He thinks they have the
same thing going with the Nelson property, some of them think they are paying way too much and some
way too less. Of course over the last two or three years that property has escalated in value from $2
million something to over $3 million. The big thing is they have been trying to clean up University
Avenue for 10 or 15 years. Although they do not have a plan quite in place, they did the corridor study
and know one of the issues out of the study was not having enough property to really get a good plan in
place. It seems to him that although they could put this off, they have the risk of them coming in,
developing it, and making it some sort of useful business which could cost them a lot more down the line.
From his perspective if they can acquire the properties along here and the staff can put together a really
good plan to utilize that area, and getting something they are going to like here in Fridley compared to
what they have had, he is favor of acquiring these properties along the east side of University Avenue at a
reasonable price. As far as the value goes, although they each have their own opinion about it, they do
have experts who come in and tell them what it is and they have to put a certain amount of trust in them.
Commissioner Meyer stated he agrees with Chairperson Commers' point completely except he thinks
Commissioner Billings has raised an interesting point. He would -like to explore the argument and asked
Mr. Bolin what does he suppose their risk is in the condemnation proceedings in terms of dollars. Does
he have any idea?
Commissioner Commers commented they have an appraisal that they would have to offer in the
condemnation proceedings.
Commissioner Meyer stated, right, but then he would want more. How much more might he be
awarded?
Mr. Bolin replied, definitely the value most likely would go upwards in a condemnation proceeding.
Once we start that, a whole new set of rules for the relocation benefits kick in as well. You cannot use the
payment in lieu of moving expenses. He had asked Dan Wilson the same question, if he could give him a
ballpark if they ended up going through condemnation. His advice was simply, do not do it. This is as
cheap as you are ever going to get this parcel. At this time it seems they have a fairly willing seller, and
he has a tenant right now that is willing to move and able to move. This is probably the best situation
they could have.
Attorney Casserly stated as a practical matter, unless they are involved in some sort of public purpose
for acquisition of this parcel for road, something that is publicly- owned, they really are not going to be
using condemnation. This is going to be a voluntary acquisition.
Commissioner Holm stated he thinks Commissioner Billings raised a good point in that there are
certainly locations whereby they would not want to pay perhaps the appraised value, and he would cite
perhaps an example the filling station across the street from the Sinclair station which he believed was
appraised at substantially greater value than the Sinclair station. Was it not over $400,000?
Mr. Hickok, Community Development Director, replied, it was $405,000.
Chairperson Commers asked, by our people?
Mr. Hickok replied, yes.
Commissioner Holm stated he certainly would not be in favor of acquiring the property at that appraised
value and so, while they have had a precedent of paying appraised value for property that they are
interested in, while they might be interested in that Citgo property, he does not think they are interested in
the current appraised value. While some of them may have considered the Sinclair acquisition at
somewhat of a premium over what our personal appraised value may be, he does not think this is
substantial over what they might think the value of this is. So, he is certainly in favor of the acquisition of
this property at the appraised value.
Commissioner Gabel stated she had some reservations and agreed with Commissioner Billings on this
but, after listening to some of Mr. Bolin's comments, she thinks it very clear they are not going to get this
for any less. They could wait for a long time and hope that it would drop in value, but a lot of other
things could actually happen and increase the value.
MOTION by Commissioner Holm to acquire the property at 6071 University Avenue for the price of
$305,000 to the landowner and $20,000 relocation expense and also with the authority given to the
Chairperson and Vice- Chairperson to sign off on any purchase agreement if that occurs before the next
HRA meeting. Seconded by Commissioner Meyer.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE
MOTION CARRIED UNANIMOUSLY.
3A. Tae Kwon Do Building
Chairperson Commers asked Mr. Bolin to give them a quick update on the Tae Kwon Do property.
Mr. Bolin stated Dan Wilson met with the owners of the Tae Kwon Do center on quite a few occasions.
A few weeks ago the Kims had gotten a broker involved. The broker and Mr. Wilson had a conversation
and now the broker is apparently not working with the Kims anymore. The broker thought the property is
Ei
worth somewhere in the neighborhood $400,000. As Mr. Wilson talked further with the broker and the
Kims, everybody agreed that it is not worth $400,000. If that is the case, the HRA probably is not
interested in the property. Even as of yesterday morning, Mr. Wilson and the Kims were still speaking.
What seems to be holding them up from making a counteroffer back to us is they are trying to figure out
where they can move to. The business has been there quite a long time so they do not want to move too
far away and yet there are not a lot of buildings that can suit their needs. They have been looking
everywhere from Fridley up to Blaine. Sounds like they are getting fairly close, and they have it
narrowed down to a couple different properties. They should know more within the next month and
hopefully staff can come back asking for authorization to go ahead and purchase that at their March
meeting.
3B. Alano Building
Mr. Bolin stated just yesterday afternoon Mr. Hickok and Mr. Bolin met with a representative from the
Alano Society, the property just to the south of the Van- O -Lite building. It is a relatively large parcel.
The representative happens to be a realtor as well. Their Board actually changes every two years, so their
current Board looks at the site and looks at what is happening around them. They heard rumblings the
City is purchasing properties here and there, and also with the impact of the smoking ban on their facility
there, they want to explore some options. They came in yesterday, had a board meeting last night, and
about 7:10 tonight the representative got back to tliem and asked if they would go ahead and seek
authorization to have an appraisal done on this site and maybe take the next step in some sort of
negotiation on the purchase of their property. If they would like to take that next step, he will go ahead
and order an appraisal on that property.
Commissioner Gabel asked, it is a pretty new building is it not?
Mr. Bolin replied he is not certain of the year of construction. He knows they have done some
improvements inside to the kitchen and some of those things. He does not have a lot of details on the
property right now.
Commission Holm stated it is maybe 10 -12 years old.
Mr. Hickok stated from talking to Barb it had been here for a few years when he came here in 1994.
Maybe early 90's but more likely in the 80's.
Dr. Burns stated it is his recollection that it was probably early to mid -90's.
Chairperson Commers asked whether there is any harm in getting an appraisal or do they talk to them
first?
Mr. Bolin stated he thought that to get a realistic value of what they would be looking at would be the
first step. There may be some interesting ideas as far as working out some sort of arrangement where
they would delay the closing for some time and letting them stay in there until maybe the HRA gets a
project going, and they could incorporate their use into whatever our project ends up being.
Chairperson Commers stated there really would not be any relocation.
Mr. Bolin stated they really have no employees. Their kitchen consists of nothing more than coffee pots
and a pizza oven, and there are just folding chairs inside.
Chairperson Commers asked what they thought? Is there any reason not to go ahead and do it?
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Commissioner Meyers replied, might as well. He asked, what does the smoking ban have to do with
anything?
Mr. Bolin replied, somehow they seem to be included with a place of employment. Until the ban they
were still smoking in the building, now they cannot. They are apparently working on some special
legislation this session that would exempt those types of clubs from that ban. The fact that they cannot
smoke in the building has actually dropped their numbers almost in half.
MOTION by Commissioner Gabel authorizing staff to obtain an appraisal of the Alano property.
Seconded by Commissioner Meyer.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE
MOTION CARRIED UNANIMOUSLY.
4. Approval of Contract Extension for CEE to Administer Home Loan Program.
Mr. Bolin stated the HRA has had an ongoing relationship with the Center for Energy and Environment
administering loan programs going back to 1996. CEE actually used to be a department within the
Minneapolis planning and community development division. Some time in the early 1980's, it spun off
as its own separate non - profit group to work with not only Fridley but a number of other cities
administering loan programs and doing weatherization programs as well. As part of our existing contract
they do marketing of our programs, process our loan applications, all of the loan qualifications,
determining eligibility for our program, and customize loans to meet the individual resident's needs.
Mr. Bolin stated the CEE also provides residents with technical assistance on such topics as remodeling,
energy conservation, and indoor air quality. The partnership we have with CEE allows Fridley residents
to access a number of other loan dollars through our state housing finance agency programs and counsel
programs out there. CEE is able to access those programs and oftentimes they will combine pieces of our
loan programs with some of these other dollars to make a loan for an amount larger than our $35,000
lin ft, or oftentimes we will have people who may not qualify for our loans because maybe their incomes
are too high and they are able to get residents loans through some of these other programs. Another
important piece to this contract extension is they are not proposing to change any of our fees which he
thinks go back to 2001.
Mr. Bolin stated staff continues to be pleased with working with CEE. They have very little staff
turnover down there. So they have been working with the same three or four people for the 4 % years he
has been with the HRA, and the director of the housing loan programs actually has been with CEE since
Fridley has started working with them in 1996. Staff does recommend the HRA approve the contract
extension through the end of this year. He is sure between now and then, they will probably revisit the
entire contract and take a look at some of those other pieces. One thing he would like to point out is the
existing main contract has all the provisions for the remodeling advisor services included in this contract
and there are no changes there. However, the operation insulation program which has had its own
successive contract expired at the end of 2007. That program has actually been discontinued by CEE
right now. What has happened is the cost of their energy audits have increased from $125 and are now
into the $300 -$600 range.
Commissioner Gable asked, why?
Mr. Bolin replied just with some of the new technology out there. What they are finding is it takes a lot
more time to go out and do these than what they originally thought. It used to be kind of just a walk
G
through the house and pointing at things that could be improved to now doing blower door tests, using
infrared cameras, etc. It ends up taking quite a bit of time. They are not offering that program this year.
The remodeling advisor is going to be available for people with questions and can come and do a walk -
thru and point out the drafty windows and identify areas where maybe they could do more insulation in
the ceiling, etc. They did also state they are trying to find a way where maybe they could work it in the
program again next year, but narrowing part of it back so it is somewhat affordable.
Chairperson Commers asked, what exactly is the distinction between the remodeling person and the
insulation, does the remodeling advisor not look at the insulation?
Mr. Bolin replied, they certainly can. He has seen people using the remodeling advisor the last few years
as their starting point to think about maybe doing an addition or kitchen remodel. So they will go out and
meet with the residents in the home. The remodeling advisor really helps take those residents from where
they are thinking of, for example, doing an addition to sketching some things out for you, and take them
in and maybe an architect can improve on the plans. They help the homeowner with advice on selecting a
contractor, give them ideas on different materials to use, etc.
MOTION by Commissioner Holm for Approval of Contract Extension for CEE to Administer Home
Loan Program. Seconded by Commissioner Gabel.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE
MOTION CARRIED UNANIMOUSLY.
INFORMATIONAL ITEMS:
1. Northstar Rail Project Update
Mr. Bolin stated they met on January 10 and authorized the acquisition of the property necessary for the
Northstar Rail site in Fridley. A number of things have been done. First and foremost, the appraisal
originally done for MnDOT in 2006 was updated to reflect the current value of the property and some
preliminary site planning done by current owner for the breakdown of $3 million for the property and
$165,000 for the redevelopment plans that the current owner has put together on a couple of occasions he
believed when he was looking at it in the past. After that was done, attorney Casserly and his staff put
together the offer to purchase based on that dollar value and that was presented to Main Street Properties.
Shortly thereafter, on January 29, a condemnation petition was filed just in case we are not able to
negotiate a sale. We do have that timeline put on us by Burlington Northern that we need to be
controlling the site by May 1 in order to get the tunnel built on Memorial weekend. Finally, there has
been legislation introduced by Carolyn Laine and a number of others that would fund the entire station
and made a request for $10.6 million in bonding. At the local level here we have had Representative
Laine and Senator Chaudhary have our most recent language for our tax increment district and they are
moving that forward as well.
Attorney Casserly stated they have been communicating on a regular basis with the property owner.
They started corresponding with them January 11, they responded to our letter on January 14 with a series
of questions, we answered all their questions in another letter back to them on January 16, on January 24
we sent them a revised appraisal with an offer, they responded on January 30 by raising issues on our
correspondence, and we responded back to them on February 5 responding to their issues. So right now
he thinks they are still waiting for another response to our February 5 letter. At this point they have made
the offer pretty simple. Really we are saying that we will pay the appraised price,.assuming there are no
environmental issues, we expect them to pay the taxes in 2008, and to pay any costs they would have for
7
any additional appraisal work they want done. That is really about it. It is really pretty straightforward.
It is one property owner. They have been told the property is clean. Folks are not aware of any
remediation issues. We should probably pursue that a little bit more. The condemnation petition was
filed, a quick take was included in that petition, and we do have a hearing set for March 10. So that
would be an initial hearing.
Chairperson Commers stated, contrary to the discussion they had earlier, once the condemnation has
started, they do have authority to go on the property and drill?
Attorney Casserly replied, yes they do, and he believed they do have to petition the court for that
approval.
Chairperson Commers commented there is nothing located around that would migrate down if there was
an issue is there?
Commissioner Meyer replied, not really, but even so we are putting in a sizable item. He is surprised the
engineers have not asked for that.
Commissioner Holm asked, what kind of potential roadblocks there might be for the quick take path they
are on?
Attorney Casserly replied nothing is certain. He supposed if you were trying to paint a worst -case
scenario there would be an opportunity to dispute the public purpose of the taking, that could be appealed.
You could probably conjure a scenario that could create an endless amount of mischief. As a practical
matter he thinks the court is going to be very hard pressed to find that we are not really well covered for a
public purpose. That is why they went to such pains to get the letters from the Department of
Transportation and the Anoka County Regional Rail Authority. So it is not just our ability to acquire this
property, they really have been requested to do it, and they have a contractual obligation with our
partners. We have done everything we can to try and make it smooth to the point of offering what they
really feel is a very legitimate price. He thinks this is a very, very fair appraisal. We asked them to do the
fairest possible appraisal because we do not want to get caught with some other penalties that are
potentially built into the new eminent domain law now.
2. Monthly Housing Report
Mr. Bolin stated there is not much to report. There were no remodeling visits in January. There is a
direct mailing they should start seeing in their mailboxes early next week, hopefully generating some
excitement over our loan program and our remodeling advisor services. He did do a check on our interest
rates on our loan program as of today and was at 5.625. We are still lower than what a lot of people can
get a home equity loan for from a traditional bank. If they will recall we try and keep our rate 1.25
percent below the State Housing Finance Agency's rate. In recent discussion with CEE and the State
Housing Finance Agency, they plan on keeping our rate where it is for a while. The indication he got is
maybe in June the State Housing Finance Agency might take a look at adjusting their interest a little bit.
Chairperson Commers stated everyone has been provided in their packet a brief report on the Home and
Garden Show. The City Comprehensive Plan set to be approved by the City Council. There is some
interest by Greco Development for Columbia Arena although that is very preliminary. He asked if
anything has been filed with the City yet?
Mr. Hickok replied, nothing is officially filed at this time. Lots of good discussions and they are
enthusiastic about a developer that has expressed a very strong interest. They have looked at a couple of
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different concepts, one that would involve our Public Works facility behind the Columbia Arena.
Regarding the site plan in their packet, in the most recent discussion they have talked about maybe scaling
that back and maybe just doing the Columbia Arena site without the Public Works facility. It is a very
nice site, and they see it as a real prime opportunity in this metro area.
Chairperson Commers asked if Greco Development is a fairly significant player in the redevelopment or
development market in the Twin Cities?
Mr. Hickok replied, yes, as a matter of fact one of the most recent highly sought after sites was the
redevelopment of the Bloomington city hall site, and Greco became the development group that is
developing that site. You do not see their name up here as much, but they have some very significant
projects and do a very nice job on all the work they do.
Chairperson Commers asked if we get any taxes off that property?
Mr. Hickok stated it is now in the hands of private operators and the zoning as a result has also gone
back to its 1968 zoning which is heavy industrial and is one of the reasons the current owner is interested.
There is a lot of overhead costs just owning the site, so he is very interested and working very
aggressively to get a developer out to develop the site.
ADJOURNMENT:
MOTION by Commissioner Gabel to adjourn. Seconded by Commissioner Meyer.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE
MEETING ADJOURNED AT 8:33 P.M.
Respectfully submitted,
012A
Denise M. Johnson
Recording Secretary
E
AM ACTION ITEM
ri HRA MEETING OF MARCH 612008
CRY OF
FRIDLEY
Date: February 27, 2008
To: William Bums, City Manager 44
From: Paul Bolin, Asst. Executive HRA Director
Scott Hickok, Community Development Director
Subiect Resolution to Accept Northstar Rail Property Appraisal
As part of the legal requirements to move forward with the potential condemnation of
the property needed for the Northstar Station, statutes require that the HRA officially
approve and accept the appraisal, through resolution, prior to depositing funds for the
acquisition.
Attorney Casserly is preparing the necessary resolution and will provide it at next
Thursday's meeting. Staff recommends that the HRA approve the resolution in order to
keep Northstar on its current timeline.
INFORMATIONAL ITEM
ri HRA MEETING OF MARCH 6, 2008
a f OF
I'MaY
Date: February 27, 2008 P
To: William Bums, City Manager
From: Paul Bolin, Asst. Executive HRA Director
Scott Hickok, Community Development Director
Subiect: Northstar Rail Property Acquisition & Proiect Update
There have been too many things happening with moving Fridley's Rail Station forward
to neatly condense into a writing smaller in volume than Tolstoy's "War & Peace ". This
memo will just briefly touch on some of the highlights and a more thorough verbal report
will be given on Thursday night.
Property Acquisition
The property owner's representative has responded a number of times to our purchase
offer demanding typical monetary concessions and also a number of items beyond the
HRH's control. In essence, the property owner would like the City of Fridley (not the
HRA) to pass a number of resolutions that state:
A. Fridley staff has publicly claimed that Seiler has been uncooperative and
troublesome in its dealings with the City. This public disparagement has taus
Seiler harm to its business and reputation. A resolution should be adopted
which states that Fridley staff was in error and that nothing in the record indices as
the Seiler did anything but exercise its rights provided under the U.S.
Constitution.
B. City staff has publicly stated that Seiler is not willing to pay ordinary and
customary special assessments or other charges that land owners customarily
pay. This claim has also caused Seller harm to its business and business
reputation. The resolution should state that Fridley staff never had any basis t<
assess the fees it has attempted to charge, that it Intended to charge in the
future, or is currently attempting to charge, and that no such assessments,
charges, or fees are due and payable.
C. A resolution preserving all of Seller's rights under its current litigation, in a
form satisfactory to Seiler.
D. A resolution that the City of Fridley takes no action whatsoever. now or in
future, which would have any negative economic impact whatsoever on Selle
last remaining real estate holding in the City of Fridley (a billboard easement
adjacent to Home Depot). In addition, the City of Fridley agrees to process a
not to obstruct or oppose any application for modification of said sign to a dig
moving or other technologically advanced sign when and if Seiler, its heirs,
affiliates, assigns, or lessee(s) submit such application.
Attorney Casserly will provide an update on the negotiations next Thursday night. We
will remain optimistic that a consensual agreement can be reached. However, in order
to meet the BNSF timeframe for tunnel installation the HRA is prepared to move
forward with condemnation if required. A condemnation hearing is scheduled at the
Anoka County Courthouse for Tuesday March 4th.
Legislative Actions
There was not a specific appropriation for Fridley's Station in the Transportation Bill that
was vetoed by the Governor and then overridden by the Legislature. The bill will still
help Fridley as it provides additional funding for all transit modes and increased
planning efforts to make all of the various proposed rail lines a cohesive system. There
was a small amount of planning money appropriated to Northstar to finish the planning
work to extend the line from Big Lake to St. Cloud.
The "Bonding Bill" you've no doubt heard discussed, contains a request for $10.6M for
the Fridley Station and has already cleared the first of many hurdles when it was
approved by the House Transportation Committee. Mayor Lund, Scott Hickok and I
attended this hearing and the Mayor did an excellent job of pleading Fridley's case. We
are hopeful this request ends up in the final bonding bill and is eventually approved.
The HRA continues working with Reps. Laine & Tillberry and with Sen. Chaudhary to
receive authorization to create a Transit TIF District and spend left over funds from our
soon to expire TIF Districts. The bill is moving forward in the House and has been
introduced into the Senate. This approval would provide upwards of $2.5M to invest in
the site.
A INFORMATION ITEM
11IN HRA MEETING OF MARCH 69 2008
CITY of
FROLEY
Date: February 28, 2008 t
To: William Bums, City Manager �
From: Paul Bolin, Asst. Executive HRA Director
Scott Hickok, Community Development Director
Subiect: Gateway Northeast Property Acquisition Update
Sinclair Station
After a review of the proposed purchase agreement by HRA legal counsel, Dan Wilson,
the HRA's relocation consultant has presented a purchase offer to the former Sinclair
Station. At this time we are still awaiting a response.
The offer price was based on the appraised value and included an additional $20,000
for the relocation of the existing tenant. We expect to have a response from the
property owner prior to Thursday night's meeting.
Tae - Kwan -Do - Update
Dan Wilson has had ongoing talks with the property owner, but has still not received
any real response to our offer. Mr. Wilson remains optimistic that something will be
worked out soon.
Alano Society
Paul Schwartz, appraiser, met with the Alano Society representative late this week to
walk through the property and begin the appraisal process. We anticipate having a
completed appraisal prior to the HRA's April meeting.
Fridley HRA
Housing Program Summary
Cover Page
March 6, 2008 HRA Meeting
Report Description
Loan Application Summary Loan application activity (e.g. mailed
out, in process, closed loans) for
February and year -to -date.
Loan Origination Report Loan originations for February and year -
to -date.
Remodeling Advisor Shows the number of field appointments
scheduled and completed for the
Remodeling Advisor Services
administered by Center for Energy and
Environment.
E co
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Fridley HRA
Loan Origination Report
February 28, 2008
Loan Originations
This Previous
Month Months YTD
HRA Loans (incl. CFUF Discount loans)
HRA Deferred Loans
Other Loans (non -HRA) -
Types of Units Improved"
`some households receive more than 1 loan, so the # of loans may not equal # of units improved
This Previous
Month Months YTD
Single Family 1 - 1
Duplex -
Tri-Plex -
4 to 9 Units - -
10 to 20 Units - -
20+ Units -
Total
Total
1
-
1
Funding Sources
Bathroom remodel
- 0%
Kitchen remodel
- 0%
General plumbing
- 0%
This
Previous
Electrical system
- 0%
Basement finish
Month
Months
YTD
Fridley HRA
$
20,000.00
$ -
$ 20,000.00
MHFA
$
-
$
$
Met Council
$
Windows/Doors
$ -
$ -
CDBG/HOME
$
-
$ -
$
CEE
$
$ -
$
Other
$
$
$ _
Total $
20,000.00
$ -
$ 20,000.00
Types of Units Improved"
`some households receive more than 1 loan, so the # of loans may not equal # of units improved
This Previous
Month Months YTD
Single Family 1 - 1
Duplex -
Tri-Plex -
4 to 9 Units - -
10 to 20 Units - -
20+ Units -
Total
Types of Improvements
Interior
# of Projects % of Total
Bathroom remodel
- 0%
Kitchen remodel
- 0%
General plumbing
- 0%
Heating system
- 0%
- 0%
Electrical system
- 0%
Basement finish
- 0%
Insulation
0%
Room addition
- 0%
Misc. interior projects
1 100%
Foundation
Exterior
Siding/Fascia/Soffit
- 0%
Roofing
0
Windows/Doors
- 0 %
- 0%
Garage
- 0 /o
Driveway /sidewalk
- 0%
Landscaping
- 0%
Misc. exterior projects
f
Fridley HRA
Performance Report
February 28, 2008
Loans
Loan Volume
Origination Fees
Inspection Fees
50 1 2%
$500,000 $ 20,000.00 4%
$27,500 $550.00
$2,800 $0
$30,300 $550.00 2%
$480,000.00
Loans
Loan Volume
Origination Fees
Inspection Fees
20
0 0%
$200,000
$0.00 0%
$11,000.
$0.00
$2,800
$0
$13,800
$0.00 0%
$200,000.00
All Programs $5,000.00 $0.00 0% $5,000.00
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FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY
March 6, 2008
lialm
1. Home & Garden Show
The weather was more cooperative with us than it had been the past few years, leading to our best home show
yet. There were in excess of 1,500 people that attended this year's show. If the door prize slips are any
indication, approximately 21 % of the attendees were Fridley residents. Scott, Julie, & I had a booth full of
residents from 9:05 AM until 2:15 PM. Brian Strand spent a good portion of the day at the show filming for
upcoming Community Development Journals.
Home loans, remodeling advice, North Star, Columbia Arena, and other rumored redevelopments seemed to
be the most popular topics of interest to the 50+ residents that took the time to visit the City's booth. Planning
is already underway for the 2009 H&G Show.
2. City Comprehensive Plan
The City Planning Staff have the Comprehensive Plan Update completed and circulating in our neighboring
communities for their review and comments. After a 6 month review, the Plan will come back to the Council in
August for their final approval.
3. Columbia Arena
Amie Gregory of Greco Development is not moving forward with a purchase and redevelopment of the arena at
this time. Bill Fogerty, the property owner, had placed very tight timeframes on the purchase ... too tight for Mr.
Gregory to go through the proper channels of submitting a formal application for TIF financing from the HRA
and a rezoning from the City. Mr. Gregory kept looking for staff to give him assurances that the HRA could
provide TIF and that the City would grant his rezoning. He grew frustrated when we would not accommodate
him by shortening our formal processes, and frustrated that the property owner had placed such a tight time
line on the property closing. On Monday, Mr. Gregory sent the following message to Scott.
"l spent the better half of Saturday afternoon with Bill Fogerty discussing the arena site, his.plans and my
senior housing opportunity. We had a very good discussion and at the end of the afternoon Bill wants to put his
candy operator in the back buildings and reduce his exposure. Subsequently, he is not willing to forego the
payment of $100,000 on March 1 and the subsequent payments of $1,000 per day in April under the terms of
the purchase agreement.
Since I am unsure as to whether the amount of TIF I need to make this project work is acceptable to the City, I
am not comfortable writing a check of this magnitude with the possibility of losing it because my deal would not
work without the land write -down.
I therefore cancelled the purchase agreement on Saturday and Bill returned my earnest money. He did ask me
if the City would have an interest in doing senior housing on the balance of the site if he went ahead with his
candy vendor. I told him I did not know, but that might be an option."
4. Gateway West
Despite Blueprint's continued optimism and interest from buyers, the severe slowdown in the housing
market, has temporarily stalled our project. Attorney Cerney and I are reviewing the existing
Development Agreement and will bring back proposed changes to the timeline at your April meeting.
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.fridley.mn.us
11
City of Fridley HRA
January 2008 Financial Statement Analysis
Prepared February 29th, 2008
The summary below was derived from observations related to the HRA monthly financial
statements, which should be read in conjunction with the analysis below. The City of Fridley HRA
utilizes a fund accounting system consisting of a General Fund, a Housing Program Fund, and
fourteen active TIF Districts. The HRA reviewed the procedures and underlying supporting
documentation available in the areas discussed below and evaluated the key factors used to
develop the actual historical data and projected fiscal year budgets in determining that they are
reasonable in relation to the financial statements taken as a whole.
Balance Sheet
Assets
Cash and Cash Equivalents: The HRA ended the month of January with a reconciled
checking account bank balance of $189,291 and an investment holdings balance of $13,903,927.
Below is a summary of the pertinent cash balances:
General ............... .....................$4,615,008 University (special legislation ).....$301,810
Winfield (poolable ) ...................$620,866 McGlynn (special legislation) ...... $201,236
Onan (poolable) .. .....................$1,688,407 Satellite (special legislation) ........ $402,527
It should also be noted that $98,826 in interest receivable was accrued at months end in
relation to the HRA's investment holdings.
Other Assets: The Mortgage Receivable classification on the balance sheet includes:
Home Loan Programs (0,1,2, &3) and totaled roughly $1,019,149 at months end. An allowance of
($44,900) for uncollectible accounts was written off in order to account for the possibility of bad
accounts dealing with the housing loan pools. Notes receivable consisted of an ACCAP and
Agro -K note which totaled $47,417 and $42,972, respectively.
The General Fund has interfund loans with Lake Pointe, 57th Ave, Gateway East, and
Gateway West TIF districts totaling $3,313,825. These loans will be paid back as increment is
received.
Liabilities
Current Liabilities: Various payroll liabilities were accrued at the end of the reporting
period and totaled roughly $3,634.
Other Liabilities: At the end of the reporting period the HRA had a remaining balance of
$313,438 on its $1,500,000 loan with the City of Fridley.
Fund Balance
Fund Balance: The HRA began fiscal year 2008 with a fund balance of $16,709,747
and has since (1/1/08 through 1/31/08) incurred an excess of expenditures over revenues (net
loss) of ($1,736,663)— leaving the HRA with a total fund balance of $14,973,084 at the end of
January. Again, for specific fund balances please reference the detailed balance sheet.
Income Statement
Revenue
City Generated Revenue: There was no activity in this classification during the month
of January. Overall, city generated revenue is coming in at 0% of the YTD budget through the
end of January.
Other Miscellaneous Revenue: Other miscellaneous revenue continued to flow in
during the month of January with the HRA receiving cash receipts from Agro -K, Frauenshuh and
CRF in the amounts of $706, $800, and $8,515 respectively.
Expenses
Salaries and Wages: Salaries and Wages expense totaled roughly $6,209 through the
month of January. Overall, the HRA's salaries and wages line items are running a little below
budgeted amounts coming in at roughly 2% of the YTD budget through January.
Benefits: Benefits expense totaled roughly $1,978 through the month of January.
Overall, the HRA's benefits are running in line with budgeted amounts for the fiscal year, coming
in at roughly 8% of the YTD budget through the month of January.
Supplies and Materials: There was no activity in this classification for the month of
January. Overall, the HRA's supply line items are coming in at roughly 0% of the YTD budget
through the month of January.
Purchased Services: Purchased services expenses totaled roughly $16,899 through
the month of January. Overall, purchased services are running inline with budgeted amounts for
the fiscal year, coming in at roughly 8% of the YTD budget through the month of January.
Capital Outlay: There was no activity in this classification during the month of January.
Overall, capital outlay expenditures are coming in at 0% of the YTD budget through the month of
January.
Other Finance Uses: Other finance expenses totaled roughly $1,798,033 through
January. Major expenditures in this classification include the 200413/20056 bond payments.
Overall, other finance use expenditures are coming in at roughly 70% of the budget through the
month of January.
Analysis Prepared By:
Michael Jeziorski
HRA Accountant
City of Fridley
Phone: 763 - 572 -3531
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City of Fridley HRA
Income Statement
Fiscal Year 2008
111108 to 1131108
Account Description
100 - General Fund
Revenues
City Revenues
100-0000 -311 -1000 Tax Levy
100-0000- 311 -2000 Tax Levy - Delinquent Years
100 -0000- 334 -1000 Residual MV Homestead Credit
Other Miscellaneous Revenue
100-0000 -362 -1000
Interest on Investment Earnings
100-0000 -362 -1500
Interest on Mortgages (Agro-K)
100 -0000 -362 -2000
Rent and Royalties (Frauenshuh - parking lot rental)
100 -0000 -362 -5100
Sale of Miscellaneous Property (Medtronic Land Sale Payment)
Expenses
Salaries and Wages
100 -0000 -430 -4101
100-0000 - 430 -4107
100 -00004304107
100-0000 - 430 -4112
Benefits
100-0000-430 -4120
100-0000 - 430-4122
100 - 0000 - 430 -4125
100-0000 - 430 -4131
100-00004304132
100 -00004304133
100-0000 - 4304150
Supplies and Materials
100-0000 -430 -4221
Purchased Services
100-0000-430 -4330
100 -0000- 430 -4331
100-0000 -430 -4332
100 -0000 - 4304333
100-0000 - 430 -4334
100 - 0000 -430 -4335
100-0000- 430 -4336
100 - 0000. 430 -4337
100 -0000-430 -4338
100 -0000430 -4340
Capital Outlay
100 -0000- 4304350
100 - 0000 - 304520
Full Time Employee Salary
Temporary Employee Salary
Administration Charges (Allocation)
Employee Leave
Medicare (1.45% of Salary)
Social Security (6.2% of Salary)
Wells Fargo Contribution (6.0% of Salary)
Health Insurance
Dental Insurance
Life Insurance
Workers Compensation
Operating Supplies
Professional Services (Ehlers/Krass Monroe)
Dues and Subscriptions (NAHRO, AICP)
Communication (Allocation)
Transportation (Mileage Reimbursement)
Advertising
Printing and Binding (Allocation)
Insurance - Non Personnel (Allocation)
Conferences/SeminarslTraining (Ehlers Seminar)
Utility Services
Services Contracted (Mowing Contract)
Payments to Other Governments (Property Taxes)
Capital Outlay - Building/Land Purchases
2008 Activity YTD as a % of
through 1131108 FY 2008 Budget Budget
377,000.00 0%
- WA
- N/A
377,000.00 0%
20,608.75 180,000.00
11%
423.54 4,900.00
9%
- 9,600.00
0%
- 67,300.00
0%
21,032.29 261,800.00
8%
5,131.32 81,432.00 6%
- - WA
- 184,300.00 0%
1,077.96 N/A
6,209.28 265,732.00 2%
90.23
1,200.00
8%
385.83
5,000.00
8%
403.60
4,900.00
8%
923.72
12,600.00
7%
20.32
264.00
8%
4.25
100.00
4%
150.00
1,800.00
8%
1,977.95
25,864.00
8%
100.00 0%
100.00 0%
1,049.05 75,000.00
1%
- 425.00
0%
- 162.00
0%
- 150.00
0%
- 500.00
0%
- 551.00
0%
- 15,699.00
0%
690.00 2,000.00
35%
- 1,000.00
0%
- 5,000.00
0%
1,739.05 100,487.00
2%
- N/A
700,000.00 0%
700,000.00 0%
. -x3-
wallrt�l�Y
*^n rdX.'�34II f1Y11 s""-4. z
266 - Housing Loan Programs
Revenues
Other Miscellaneous Revenue
Unaudited Date - For Management Purposes Only
sotalti
City of Fridley HRA
Expenses
Income Statement
Purchased Services
Fiscal Year 2008
265-0000 - 430.4330
Professional Services (Castle Vision - Home Show)
1,435.08
111108 to 1131/08
21%
265-0000-430 -4334
Advertising (Clear Channel - Home Show)
578.30
1,000.00
2008 Activity
265-0000 - 430-4335
YM as a % of
Account Description
through 1131108
FY 2008 Budget
Budget
265 -0000 -362 -1000
Interest on Investment Earnings
14,693.29
131,000.00
11%
265-0000 -362 -1501
Interest on Mortgages (Pool 0, 1, 2)
3,372.76
48,000.00
7%
265 -0000- 362 -1500
Interest on Mortgages (Pool3/ACCAP)
16.12
1,400.00
1%
265-0000 -362 -6100
Miscellaneous Revenue (Home and Garden Show)
14,740.00
15,000.00
98%
.000y
32,822.17
195,400.00
17%
sotalti
Expenses
Purchased Services
265-0000 - 430.4330
Professional Services (Castle Vision - Home Show)
1,435.08
7,000.00
21%
265-0000-430 -4334
Advertising (Clear Channel - Home Show)
578.30
1,000.00
58%
265-0000 - 430-4335
Printing and Binding (Advantage Sign - Home Show)
500.00
0%
265-0000 - 4304340
Services Contracted (CEE)
452.00
35,000.00
1%
265-00004304341
Charges/Rentals (National Sports Center/Cena /ko - Home Show)
3,983.63
7,000.00
57%
265-0000-475 -4610
Debt Service/Interest Expense (1.5 Million Loan with City)
8,711.03
16,550.00
53%
15,160.,04y
6677,,y0�500..
23%
.000y
y
et- kIWL11AS�S. Y. -
° r
n;- A1��.' +`- ..;.- t�_a'# ::.. � f'' ..iir•. ' .31 =' 4 i-. .. :. ..
':�
460 - Center City (1979 -2009)
Revenues
City Revenues
450-0000 -311 -1000 Tax Levy
450-0000 - 311 -2000 Tax Levy - Delinquent Years
450-0000- 3341000 Residual MV Homestead Credit
Other Miscellaneous Revenue
450-0000 - 362 -1000 Interest on Investment Earnings
579,800.00 0%
WA
WA
579,800.00 0%
10,397.40 81,000.00 13%
10,397.40 81,000.00 13%
aaNM dies ° ,� . — T - t 1 NEW '� �*0 ��": �� e
Expenses
Purchased Services
450-0000 - 430 -4330 Professional Services
3,000.00 0%
3,000.00 0%
451 - Moore Lake Area (1981 -2007)
Revenues
Other Miscellaneous Revenue MIA
451 -0000 - 362 -1000 Interest on Investment Earnings 90.42 - N/A
90.42 - N/A
N
Expenses
Purchased Services
451 -0000- 430 -4330 Professional Services 3,000.00 0%
- 3,000.00 0%
Unaudited Data - For Managemerd Purposes Ordy
City of Fridley HRA
Income Statement
Fiscal Year 2008
111108 to 1131108
Other Finance Uses Account Description
451 - 0000 - 475 -4750 Payments to Primary Governments (2004B and 2005B Bonds)
2008 Activity YTD as a % of
through 1131108 FY 2008 Budget Budget
38,100.82 34,000.00 112%
38,100.82 34,000.00 112%
Revenues
City Revenues
Expenses
452- 0000 -311 -1000
452 -0000- 311 -2000
Tax Levy
Tax Levy - Delinquent Years
- $ �'e:,:- .w.= '��`k±SYi�nw' 8,,.�fis. -. 3 .'€•�.�"�R��7�e•, �=. "�
�a+'k sir_'' -k� ����'
Si •�!if�f) "��, sc' ,�' -'
_.ta���'
Gw'. �TM�'�..;:.
452 - North Area (1982 -2008)
0'0/0
452 -0000- 362 -1000
Interest on Investment Earnings
5,687.56
62,000.00
9%
Revenues
City Revenues
Expenses
452- 0000 -311 -1000
452 -0000- 311 -2000
Tax Levy
Tax Levy - Delinquent Years
-
-
1,245,200.00
0%
WA
Other Miscellaneous Revenue
Professional Services
1,245,200.00
0'0/0
452 -0000- 362 -1000
Interest on Investment Earnings
5,687.56
62,000.00
9%
Parking Facilities (Medtronic Pay as you go)
- 611,820.00
5,687.56
62,000.00
9%
- 611,820.00
sc. -..� s+ r fir'
. r
- ;� '2��.�ti:°'< •.�
Expenses
-:
NAM �43N� ,w,.?E', .n�'^�!°.,'.�n s�v:,z,,. -- �- 4 "�•`L
�' ��`Y �- '3c�`� $ �r� e.p� ��+F y
� ��
Purchased Services
452 -0000- 430 -4330
Professional Services
-
3,000.00
0%
Other Finance Uses
3,000.00
0%
452 -0000 - 475 -4750
Payments to Primary Governments (20048 and 2005B Bonds)
1,759,931.68
1,825,000.00
96%
1,759,931.68
1,825,000.00
96%
too 3.
. x g 4Z -960
111�7ACONlfiflAceap =�+ > f fifitrk'r
V'FK Y{� �A"xar
?�7244s1- 0
455 - Lake Pointe (1985 -2026)
Revenues
City Revenues
455-0000- 311 -1000 Tax Levy
455-0000 -311 -2000 Tax Levy - Delinquent Years
Other Miscellaneous Revenue
455-0000 - 362 -1000 Interest on Investment Earnings
679,800.00 0%
N/A
679,800.00 0%
838.65 2,000.00 42%
838.65 2,000.00 42%
466 - Winfield (1986 -2012)
Unaudited Date - For Management Purposes Only
Expenses
Purchased Services
455-0000 - 430-4330
Professional Services
- 2,000.00
0%
Capital Outlay
2,000.00
0%
455-0000 -430 -4536
Parking Facilities (Medtronic Pay as you go)
- 611,820.00
0%
- 611,820.00
0%
:_ R�^
.... t c�•�r _ d8;.:".,w >^ *l�+ E,i
-:
NAM �43N� ,w,.?E', .n�'^�!°.,'.�n s�v:,z,,. -- �- 4 "�•`L
�' ��`Y �- '3c�`� $ �r� e.p� ��+F y
� ��
466 - Winfield (1986 -2012)
Unaudited Date - For Management Purposes Only
City of Fridley HRA
Income Statement
Fiscal Year 2008
111108 to 1131108
Account Description
Revenues
City Revenues
456-0000 -311 -1000 Tax Levy
456-0000 -311 -2000 Tax Levy - Delinquent Years
Other Miscellaneous Revenue
456 - 0000 -362 -1000 Interest on Investment Earnings
2008 Activity YTO as a % of
through 1131108 FY 2008 Budget Budget
65,100.00 0%
WA
65,100.00 0%
2,754.76 23,000.00 12%
2,754.76 23,000.00 12%
WI-WAO 0 Jw f
Expenses
Purchased Services
456 - 0000 - 430-4330 Professional Services
458 - Onan (1989 -2015)
Revenues
1,000.00 0%
1,000.00 0%
4F = »g 3`�g5f"+':._ :-S�r .: 2 M ::;, NS Y .MM,e " ":YW5:.
"`'+{max' _. . £' {,r�
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
356,800.00 0%
- WA
356,800.00 0%
7,491.11 59,000.00 13%
7,491.11 59,000.00 13%
taiei .dt. °.S3`f�Ta, .. ��'��� �� � _, ., � � ��' wr ftiy$�0_QO�z� � .. N12 %�
Expenses
Purchased Services
458 -0000 -430 -4330 Professional Services
1,500.00 0%
1,500.00 0%
�e��1�r�''`' "`r. -a:"a �^-' �fixs.^„ ana '� �" �:� ���*' -• '�,e�,'�alL� °n.°- 'M"r3'.�"�m .1 �. �"�^ Vr "-'�' .a.6C'1�°?^,, -?��r�
�I3.nan�
462 - Universtty /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
Expenses
Purchased Services
Unaudked DaW - For Managemerd Purposes Only
44,000.00 0%
- WA
44,000.00 0%
1,339.18 11,000.00 12%
1,339.18 11,000.00 12%
0040— A—
City of Fridley HRA
Income Statement
Fiscal Year 2008
111108 to 1131108
2008 Activity YTD as a % of
Account Description through 1131108 FY 2008 Budget Budget
462 -0000 - 430-4330 Professional Services - 1,500.00 0%
1,500.00 0%
. �alE:. � .' �. .e` ���"�'a`'°, -. "�;: r s� �_v r � 4=�4 °�, � _ � °`� � �i'� --`w -t.� � .f.;"•T.^ ' ., =r n�.�w ` -r ` "` f.�'Op
x
�u.
463 - McGlynn (1992 -2019)
Revenues
City Revenues
463- 0000 -311 -1000 Tax Levy
Other Miscellaneous Revenue
463- 0000 -362 -1000 Interest on Investment Earnings
36,000.00 0%
36,000.00 0%
892.93 7,000.00 13%
892.93 7,000.00 13%
Expenses
Purchased Services
463-0000 - 430 -4330 Professional Services
1,500.00 0%
1,500.00 0%
fM
e�fOG(1�11e 1 _ nfl �,-
464 - Satellite (1995 -2023)
Revenues
City Revenues
464 - 0000 -311 -1000 Tax Levy
464-0000 -311 -2000 Tax Levy - Delinquent Years
464-0000- 334 -1000 Residual MV Homestead Credit
Other Miscellaneous Revenue
464-0000 -362 -1000 Interest on Investment Earnings
51,400.00 0%
- N/A
- N/A
51,400.00 0%
1,786.09 15, 000.00 12%
1,786.09 15,000.00 12%
467 - 57th Ave (1997 -2023)
Revenues
City Revenues
467 -0000 -311 -1000 Tax Levy
467 -0000- 311 -2000 Tax Levy - Delinquent Years
Unaudited Data - For Management Purposes Only
23,300.00 0%
N/A
23,300.00 0%
C K% _ aeF..v:za .��?. "vf�,. _+,s+4 .�" : -., l?��t - �9��� Y. c5�� oA_77YMa�vi,`�•L"� " ¢ ��
Expenses
Purchased Services
464-0000- 430 -4330
Professional Services
-
1,500.00 0%
-
1,500.00 0%
,tom
E -__-N Ft , .
467 - 57th Ave (1997 -2023)
Revenues
City Revenues
467 -0000 -311 -1000 Tax Levy
467 -0000- 311 -2000 Tax Levy - Delinquent Years
Unaudited Data - For Management Purposes Only
23,300.00 0%
N/A
23,300.00 0%
IJ
City of Fridley HRA
Income Statement
Fiscal Year 2008
111108 to 1131108
Account Description
Other Miscellaneous Revenue
467 -0000 -362 -1000 Interest on Investment Earnings
Expenses
Purchased Services
467- 0000-430 -4330 Professional Services
Capital Outlay
467 -0000 - 431 -4510 Capital Outlay (Linn Pay as you go)
468 - Gateway East (2001 -2028)
Revenues
City Revenues
2008 Activity YTD as a % of
through 1131108 FY 2008 Budget Budget
8.73 - WA
8.73 WA
- 1,500.00
0%
- 1,500.00
0%
- -
WA
20,970.00
0%
20,970.00
0%
468 -0000 -311 -1000 Tax Levy
- 45,500.00
0%
468 -0000 -311 -2000 Tax Levy - Delinquent Years
- -
WA
468 -0000- 334 -1000 Residual MV Homestead Credit
WA
- 45,500.00
0%
Other Miscellaneous Revenue
468-0000 - 362 -1000 Interest on Investment Earnings
124.92 1,000.00
12%
124.92 1,000.00
12%
Expenses
Purchased Services
468-0000- 430 -4330 Professional Services
470 - Gateway West (2005-2032)
Revenues
City Revenues
1,500.00 0%
1,500.00 0%
470 -0000 -311 -1000 Tax Levy - - WA
470-0000 - 311 -2000 Tax Levy - Delinquent Years - - WA
- WA
Other Miscellaneous Revenue
470 -0000 - 362 -5100 Sale of Misc Property - 393,750.00 0%
470 -0000 -362 -1000 Interest on Investment Earnings 12.98 200.00 6%
12.98 393,950.00 0%
Expenses
Purchased Services
470-0000-430 -4330 Professional Services (Loan Closes) - 12,000.00 0%
470-0000 - 430 -4340 Services Contracted (Mowing Contract) - 2,500.00 0%
Unaudked Data - For ManagemeM Purposes Only
470-0000-430-4350
Capital Outlay
470-0000-430-4530
City of Fridley HRA
Income Statement
Fiscal Year 2008
111108 to 1131108
2008 Activity YTD as a % of
Account Description through 1131108 FY 2008 Budget Budget
Payments to Other Governments (Anoka County - Property Tax) - - NIA
14,500.00 0%
Improvements other than building (Final Asphalt)
50,000.00 0%
50,000.00 0%
472 - TIF #19 (Pending Information)
Revenues
City Revenues
472-0000-311-1000 Tax Levy
472-0000-311-2000 Tax Levy - Delinquent Years
Other Miscellaneous Revenue
472-0000-362-1000 Interest on Investment Earnings
Expenses
Purchased Services
472-0000-430-4330 Professional Services
601 - Housing Replacement (1997-2024)
Revenues
City Revenues
501-O000 -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
Expenses
Purchased Services
501-0000-430-4330 Professional Services
501-0000-430-4340 Services Contracted (Mowing Contract)
NIA
NIA
NIA
30.94 N/A
30.94 N/A
0%
28,600.00 0%
N/A
- N/A
28,600.00 0%
1,145.92 10,000.00 11%
1,145.92 10,000.00 11%
1,500.00 0%
1,000.00 0%
2.500.00 0%
Unaudited Data - For Management Purposes Only