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HRA 12/04/2008 - 6261December 4, 2008 HRA Meeting Regular Meeting Agenda 7.00 p.m. City Hall, Council Chambers Call to order Roll call. Action Items 1. Approval of expenditures 2. Approval of November 6, 2008 Meeting Minutes 3. Approval of Preliminary 2009 Budget 4. Approval of Resolution Adopting Reimbursement Agreement — HRA/ACRRA 5. Approval of Resolution Adopting Joint Powers Agreement — HRA/MnDOT Informational Items 1. Gateway Northeast Update 2. Housing Loan Program Update Adjournment C:\Documents and Settings \bebergj \Local Settings \Temporary Internet Files\ Content .Outlook \VWCEOPO4\December 4 -2008 Agenda Outline.docC Documents and Settings \bebergj \Local Settings \Temporary Internet Files \Content.Outlook \VWCEOPO4 \December 4- 2008 Agenda Outline.doc CITY OF FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY COMMISSION NOVEMBER 6, 2008 CALL TO ORDER: Chairperson Commers called the Housing and Redevelopment Authority to order at 7:05 p.m. ROLL CALL: MEMBERS PRESENT: Larry Commers Pat Gabel William Holm Steve Billings John Meyer OTHERS PRESENT: Paul Bolin, HRA Assistant Executive Director Jim Casserly, Development Consultant Gay Cerney, HRA Attorney Scott Hickok, Community Development Director Mike Jeziorski, Accountant William Burns, City Manager ACTION ITEMS: 1. Approval of Expenditures MOTION by Commissioner Holm to approve the expenditures as presented. Seconded by Commissioner Gabel UPON UNANIMOUS VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED. 2. Approval of October 2, 2008 Meeting Minutes Commissioner Gabel asked for the word week to be changed to month on page three. MOTION by Commissioner Gabel to approve the minutes as amended. Seconded by Commissioner Holm. UPON UNANIMOUS VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED. 3. Approval of 2009 Meeting Schedule MOTION by Commissioner Gabel to approve the 2009 Meeting Schedule as presented. Seconded by Commissioner Holm. UPON UNANIMOUS VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED. 3A. Approval of Purchase Agreement — Alano Society Commissioner Billings asked if the purchase price included relocation costs. Paul Bolin, HRA Assistant Executive Director, said that this is a voluntary sale so any relocation costs are an additional benefit. Commissioner Billings said that the seller may want relocation costs. Mr. Bolin said that is correct. Chairperson Commers asked if there were any environmental issues with this site. Mr. Bolin said that the building is new enough that the building officials have no concerns with hazardous materials. Before the demolition of the building the city will be required to test for hazardous materials. Chairperson Commers asked about insurance while the Alano Society leases the building. Mr. Bolin said that he has not had a chance to go through the paperwork and check on insurance. Chairperson Commers asked about the liability coverage on page 13. Commissioner Billings asked if a motion could be made to agree on the principal and after the attorney's have had a chance to look at the agreement and rest could be approved at the December meeting. Mr. Bolin said that the seller is looking for more of a commitment tonight. The Board could give the Chair authorization to sign the purchase agreement if certain criteria are met, this way the process wouldn't be delayed another month. Commissioner Billings asked how long negotiations have been going on with the Alano Society. Mr. Bolin said the first discussions started back in January 2008. Commissioner Billings asked how long the seller has known about this meeting and how many times has a representative from Alano showed up at the meetings prior to tonight. Now, the seller faxes in a purchase agreement late this afternoon leaving HRA no opportunity to review the agreement and wants an agreement signed tonight? Do they really expect HRA to react without review of the paperwork? Chairperson Commers asked what would happen if there were property damage when the Alano Society is leasing the building. Gay Cerney, HRA Attorney, said that because HRA intends to demolish the building, HRA shouldn't worry about property damage. There should be no concern other than keeping the building maintained. Only enough coverage would be needed to keep the building in safe condition. Commissioner Meyer asked if there were a fire, for example, with no insurance, who would be responsible for replacing the losses in the building. Attorney Cerney said that a typical lease would say HRA would not be responsible for the liability of private property. Commissioner Gabel agreed not to rush to sign the purchase agreement until the paperwork is reviewed. Mr. Bolin said that a lot has transpired this past week, especially in the price negotiations. Mr. Spahn, working on behalf of the Alano Society is here and maybe HRA could ask him if they could wait until December. Mike Spahn, Caldwell Bankers and a Board Member of the Alano Society, said that the timing of this purchase agreement was delayed mostly due to the nonprofit organization rules and regulations. 30 day notices and approval from all members is required for this sale. The Alano Society has been in Fridley for over 20 years and wants to stay in Fridley. Tomorrow the Alano Society would like to sign a purchase agreement for their new building. In order to go to the next step, they would need a signed purchase agreement. The seller needs to keep the nonprofit statue according to their rules. Mr. Spahn said regarding the liability and renters insurance for personal property, no liability would be the responsibility of the city. The Alano Society may be able to move out early depending on the new building. The Alano Society services a lot of people from this organization, wants to continue business in Fridley and would like to know the purchase is complete. If there were some type of disaster and everything was destroyed; there would be no cost to the City of Fridley. Chairperson Commers asked about the idea of agreeing on the purchase agreement and wait on the lease. Mr. Spahn said that he would need the purchase agreement signed tonight. Chairperson Commers asked who drafted the purchase agreement. Mr. Bolin said Dan Wilson and Attorney Cerney. and Jim Casserly reviewed the documents. Mr. Casserly said that they wanted to be sure the State and Federal laws were covered in the purchase agreement. Mr. Spahn said the only change was the final price and the lease time. Commissioner Billings said that if HRA took possession what would happen to the real estate taxes. Mr. Spahn said that the Alano Society is a nonprofit organization and currently doesn't pay property taxes. Renting to a nonprofit would exempt from property taxes. Mr. Casserly said that he has gone through the documents and the only thing that changed was the price. All terms have been addressed. If the Authority is okay with the price, it would be okay for the Commission to accept the purchase agreement. Chairperson Commers said the problem is if the organization is getting another purchase agreement tomorrow, they probably need this signed tonight. He asked if the agreement could be approved subject to review by Council in the next few days. Mr. Cassery said that all the information is in the office and could be reviewed tomorrow. Attorney Cerney said that there should be no problem executing the purchase agreement and it wouldn't be signed until the closing. Commissioner Holm said he hasn't seen the purchase agreement and was concerned that it has not been reviewed. He would agree on the price and would like the agreement looked over to make sure all provisions were agreed upon. Commissioner Meyer said that the purpose is to accommodate the Alano Society and they had a valid reason for the last minute actions. He thought the Commission should give them assurance to proceed tomorrow with their business. Dr. Burns said that the Authority should be careful on what is agreed upon so they would not be required to come back to meet to approve the purchase agreement at a later date. Maybe they could approve the purchase agreement subject to being the same as the one previously considered that way it would not require the Authority to come back for approval. Mr. Casserly said all the Authority needs to do is make sure the body of the agreement is the same as before. MOTION by Commissioner Meyer to approve the purchase agreement contingent upon Council review and approve form of lease to conform with the information that was received earlier. Seconded by Commissioner Holm. UPON UNANIMOUS VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY 4. Approval of 2009 Home and Garden Show Admin. Contract Paul Bolin, HRA Assistant Executive Director, said that Fridley has been the fiscal agent for the Home & Garden Show for 11 years. (Blaine, MV, & NB). The revenues from booth rental cover the expenses for show. Since 2005, the H &G Show has contracted with Marsha Wagner /Castle Visions to perform all administrative tasks for show. Her work has been excellent and much appreciated by all. Staff recommends approval of the contract authorizing Castle Visions to perform admin work for 2009 H &G Show. MOTION by Commissioner Gabel to approve the 2009 Home and Garden Show Contract. Seconded by Commissioner Meyer. UPON UNANIMOUS VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY 5. Approval of Resolution Adopting Construction Easement for NS Rail Paul Bolin, HRA Assistant Executive Director, reviewed the CTIB Grant. The grant was approved for $9.921M for the Fridley Station Construction. The total estimated cost of station is $13.34M. The HRA land, ACRRA land and tunnel are local contribution to project. HRA Attorneys worked with ACRRA Counsel to draft the easement necessary to start construction & have developed an early draft of ground lease. Staff recommends approval of the resolution granting a construction easement to the ACRRA. MOTION by Commissioner Billings to approve the resolution adopting construction easement for the Northstar Rail. Seconded by Commissioner Gabel. Commissioner Meyer said he had a question about the bids, if they came in higher than budgeted who would cover the difference. Mr. Bolin said that in the past three months the estimated total went from $11 M to $13.5M. The estimates have been conservative to avoid that situation. Staff is pretty sure that the bids will come in under the estimate. If there is a shortfall in the building process, the ACRRA will have to come up with the funds. They may come to the Fridley HRA to help with that but are trying to plan for the numbers to be close to the estimate. Commissioner Meyer asked about delays and if the station couldn't operate until January or February, what is magic about November 2009. Mr. Bolin said that is when the rest of the stations will open. They would like all the stations open at the same time. ACRRA has been great through the entire process and if things come up causing delay, the plans will need to be adjusted accordingly. Commissioner Meyer asked if there would be any sort of penalty if the station was not ready to open in November. Mr. Bolin said that the City would not be penalized as it is a Regional Rail project. The language in the grant states for certain parts of construction to happen in a certain time frame. William Burns, City Manager, asked if the $1.6M to build the tunnel would be reimbursed by the CTIB. Mr. Bolin said that the County would not be reimbursed. Dr. Burns asked what the remaining cost was for the station. Mr. Bolin said $9.9M. Dr. Burns said that it seems true that there is room for errors or contingency funds. Chairperson Commers said that HRA did get a breakdown for the cost of the construction. Scott Hickok, Community Development Director, said that the Fridley Station used some methodology as other stations so there is some kind of formula to build in contingency funds. Currently there are eager contractors which will lead to favorable pricing. Dr. Burns asked staff to email HRA with the contingency factor. He feels confident the funds will be okay as the past experiences have been.good. Winter presents a good opportunity to get competitive bids. Commissioner Meyer said sometimes a surprise can come and he wanted to make sure we were prepared if something comes up. UPON UNANIMOUS VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED. INFORMATIONAL ITEMS: 1. Northstar Rail Station Update Paul Bolin, HRA Assistant Executive Director, reviewed the construction schedule. NCDA is currently working on the final design and it should be finished by late November. The bidding process will be December 12th through January and the notice to proceed is targeted for February 2009. The significant construction should be completed in September 2009, final construction complete in October 2009 and the Northstar operation will begin in November 2009. HRA and the City can now turn their focus to the development around the station. Revisit early plans and examine successful stations with the Biko Associates, Dunbar Group. A joint work session with Council will be scheduled in January. 2. Gateway Northeast Update Paul Bolin, HRA Assistant Executive Director, said that in regards to the Tae Kwan Do building we are still awaiting official response to HRH's offer and the Sinclair Station is still waiting for MPCA ruling. 3. Housing Loan Program Update Paul Bolin, HRA Assistant Executive Director presented the Monthly Housing Report. The Fridley HRA Loan Program Summary for October Loans Closed: RLF — 1, Def — 0 and Others — 0. Year to Date Loans Closed: RLF —14, Def —. 0 and Others — 3. (TOTAL YTD —17) Remodeling Advisor Visits for October —1, YTD —15. ADJOURNMENT: MOTION by Commissioner Meyer to adjourn. Seconded by Commissioner Billings. UPON UNANIMOUS VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED AND THE MEETING ADJOURNED AT 9:15 P.M. Respectfully Submitted, KAia� Krista Monsrud Recording Secretary 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 Preliminary 2009 Budget On Thursday night, staff will present a draft of the 2009 budget for HRA review. Rick Pribyl, Mike Jeziorski, and Paul Bolin will be available to answer any questions that the Commissioners may have on the proposed budget. The HRA's input, and final TIF numbers from Anoka County, will lead to staff making revisions to the draft budget and then presenting a final version for consideration at the January HRA meeting. The budget is divided into three separate categories. The General Fund covers the bulk of the administrative and overhead costs of the HRA. The Housing Loan Program Fund covers the housing related programs and services (CEE programs such as Operation Insulation) and the $1.5M loan with the City. The Capital Outlay Funds include all of the tax increment (TIF) districts. A 2009 draft budget packet including: cash balances as of 10/31/008 and detailed budget sheets for the categories mentioned above have been included for your review. M Paul's Documents\HRAMA Agenda Items12008\December 4, 2008\Dec08(2009 PreliminaryBudget Memo).doc City of Fridley HRA 2009 Final Budget Packet 2008 Cash Balances ................Page (1 -2) 2009 Budget General Fund ...............Page (3-4) Housing Program ......... Page (5 -6) Tax Increment Districts..Page (7 -13) Debt Schedule .........................Page (14 -15) City of Fridley HRA 2008 Cash Balances As of 10/31/08, City of Fridley HRA Cash Balances as of 10/31/08 Cash Balances Fund Description Balance 100 General Fund 4,502,535 265 Housing Loan Program 3,303,464 450 Center City 2,682,202 451 Moore Lake - Obligated to Bond 452 North Area 1,136,028 Repayment 455 Lake Pointe 74,658 456 Winfield 83,136 458 Onan 199,765 Poolable 462 University 28,405 463 McGlynn 21,452 464 Satellite 31,038 Special Legislation 467 57th Ave 1,062 468 Gateway East 49,769 470 Gateway West 13,935 472 TIF #19 2,056 501 Housing Replacement 276,782 12,406,287 Total Z City of Fridley HRA 2009 Budget General Fund, I City of Fridley HRA Budget Fiscal Year 2009 Account Description 100 - General Fund Revenues City Revenues lDD -0000- 311 -1000 Tax Levy I DD -0000- 311 -2000 Tax Levy - Delinquent Years 100 -0000- 3341000 Residual MV Homestead Credit Other Miscellaneous Revenue 1DO -0000 -382 -1ODD Interest on Investment Earnings 100 -0000 -362 -1500 Interest on Mortgages (Agra -K) I DD -0000- 362 -2000 Rent and Royalties (Frauenshuh - panting lot nantao 100 -0000- 362 -5100 Sale of Miscellaneous Property (Medtronic Land Sale Payment) 2008 Activity YTD as a % of through 10/31/08 FY 2008 Budget Budget FY 2009 Budget 190,849.99 377,000.00 51% 499,757.00 - NIA - 8,705.63 81,432.00 NIA 84,000.00 199,556.62 377,000.00 53% 499,757.00 115,556.79 180,000.00 64% 135,000.00 4,107.58 4,900.00 64% 4,450.00 8,000.00 9,600.00 83% 9,600.00 36,065.44 67,300.00 54% 72,000.00 163,729.81 261,800.00 63% 221,050.00 Expenses Salaries and Wages 100- 0000 - 430 -4101 100 - 0000 -430 -4107 100 - 0000 - 430 -4107 100 -D000- 430 -4112 Benefits 100 - 0000 -43D -4120 I OD -0000. 4304122 100-0000.430 -4125 100-0000.430 -4131 100-0000 -43D -4132 100 - 0000 -43D -4133 1DO- 0000430 -4150 Supplies and Materials IDO- 0000-430 -4221 Purchased Services 10D- 0000 -43D -4330 1000000 -43D -4331 100-0000. 430 -4332 100 - 0000430-4333 1000000- 4304334 100 -00004304335 1000000430 -4336 1D000DD- 430 -4337 1000000- 430 -4338 100-DODO- 430-4340 Capital Outlay 1 D00000. 430-4350 IDD- 000030 -4520 Full Time Employee Salary Temporary Employee Salary Administration Charges (Allocation) Employee Leave Medicare (1.45°6 of Salary) Social Security (6.2010 of Salary) Wells Fargo Contribution (6.0.0 of Salar.0 Health Insurance Dental Insurance Life Insurance Workers Compensation Operating Supplies Professional Services (Wass Monroe) Dues and Subscriptions (WAHRO, AICP) Communication (Allocation) Transportation (Mileage Reimbursement) Advertising Printing and Binding ( Allocation) Insurance - Non Personnel (Allocation) Conferences/Seminars/Training (Ehlers Seminar) Utility Services Services Contracted (Mowing Contmd) Payments to Other Govemments (Property Taxes) Capital Outlay - Building/Land Purchases 57,709.77 81,432.00 71% 84,000.00 138,225.00 184,300.00 N/A 75% 190,000.00 11,139.51 WA 207,074.28 265,732.00 78% 274,000.00 1,001.03 1,200.00 83% 1,200.00 4,280.22 5,000.00 86% 5,200.00 4,475.20 4,900.00 91% 5,100.00 10,160.92 12,600.00 81% 13,400.00 223.52 264.00 85% 277.00 42.50 100.00 43% 105.00 1,664.00 1,800.00 92% 1,900.00 21,847.39 25,864.00 84% 27,18100 7.51 100.00 8% 50.00 7.51 100.00 8% 50.00 1164,499.97 C75,000.00� 219 °A 125.000.00 42` 5. 0% 425.00 1,441.39 162.00 890% 160.00 102.99 150.00 69% 150.00 185.83 500.00 37% 500.00 2,459.13 551.00 446% 320.00 12,721.77 15,699.00 81% 16,000.00 833.19 2,000.00 42% 1,500.00 1,011.97 1,000.00 101% 1,000.00 7,869.48 5,000.00 157% 9,000.00 191 125.52 100,487.00 160% 154,055.00 679.38 - WA 700 000.00 0% 700,000.00 679.38 700,000.00 0% 70bc OD090� rot 1 �� a T 4 i�'ntia y; , ¢.•.:. r �':�,�'rf kfir�' >.., „tee`T `�'^.`�S.X+ i..._: = e...c= ..*�'.°,:.Z.c'.�„�..,:%a 46" :,. Jt s 4 • - Yx Y r �x - �_ E Unaudited Date - For Management Purposes Only City of Fridley HRA 2009 Budget Housing Loan. Program s City of Fridley HRA Budget Fiscal Year 2009 Account Description 265 - Housing Loan Programs Revenues Other Miscellaneous Revenue 265- 0000 - 362 -1000 interest on Investment Earnings 265 -DD00 -362 -1501 Interest on Mortgages (Pool 0, 1, 2) 265-0000 -362 -1500 interest on Mortgages (Pool VACCAP) 265- 0000 - 362 -6100 Miscellaneous Revenue (Home and Garden Show) 2008 Activity YTD as a % of through 10/31/08 FY 2008 Budget Budget FY 2009 Budget 63,349.86 131,000.00 64% 99,ODO.00 36,804.73 46,000.00 77% 44,000.00 4,005.02 1,400.00 286% 3,400.00 18,410.00 15,000.00 123% 19,000.00 142,569.61 195,400.00 73% 165,400.00 T�fal3yie "vgn'�1�ousin . . Y_ a � WWWW Expenses Purchased Services 265 -0000- 430 -4330 Professional Services (Castle Vision - Home Show) 9,069.77 7,000.00 130% 10,D00.00 265 -0000 -430 -4334 Advertising (Clear Channel -Home Show) 578.30 1,000.00 58% 1,000.00 265 - 0000 - 430 -4335 Printing and Binding (Advantage Sign - Home Show) 325.36 500.00 65% 500.00 265 -0000- 430 -4340 Services Contracted (CEE) 20,117.01 35,000.00 57% 25,000.00 265- 0000 - 430 -4341 Charges/Rentals (National Sports Center/Cenaiko - Home Show) 7,978.68 7,000.00 114% 8,000.00 265-ODOD- 475 -4610 Debt Service/interest Expense (1.5 AMn Loan with City) 16,546.98 16,550.00 100% 13,000.00 54,616.30 67,050.00 81% 57,500.00 �+iet�n`i�r# a `. h+9: •' ''- "" Unsudked Date - For Management Purposes Only [019 City of Fridley HRA 2009 Budget Tax Increment Districts -7 City of Fridley HRA Budget Fiscal Year 2009 2008 Activity YTD as a % of Account Description through 10/31/08 FY 2008 Budget Budget FY 2009 Budget 460 - Center City (1979-2009) Revenues City Revenues 450- DOM311 -1000 Tax Levy 306,557.34 579,800.00 53% 615,000.00 450- 0000 -311 -2000 Tax Levy - Delinquent Years (1,303.38) 762,535.73 N/A - 450 -0000- 3341000_ Residual MV Homestead Credit Tax Levy - Delinquent Years 23,981.92 NIA NIA 3D5,253.98 579,600.00 53% 615,000.00 Other Miscellaneous Revenue 452 -0000- 362 -1000 450 -ODDD- 362 -1000 Interest on Investment Earnings 61,087.16 81,000.DO 75% 60,000.00 61 067.16 B1,DD000.00 75% _ 80,,,0{00"y0..000�. 9 Expenses Expenses Purchased Services Purchased Services 452 -0000 - 430 -4330 450-0000- 430 -4330 Professional Services 4,854.48 3,000.00 162% 5,000.00 4,854.48 3,DDO.00 162% 5,000.00 Other Finance Uses 452- 0000 - 475 -4750 450 -0000- 475 -4750 Payments to Primary Governments (20048 and 20058 Bonds) 1,819,400.19 1,825,000.00 NIA 13,000.OD NIA 13,000.00 i 451 - Moore Lake Area (1981 -2007) Revenues Other Miscellaneous Revenue 451 -0000- 362 -1 D00 Interest on Investment Earnings 119.34 - NIA 119.34 N/A - Expenses Purchased Services 451- ODDO -43D -4330 Professional Services 631.25 3,000.00 21% 631.25 3,000.00 21% Other Finance Uses 451 -ODDO- 475 -4750 Payments to Primary Governments (2004B and 2005E Bonds) 40,064.61 34,000.00 118% 40, 064.81 34, 000.00 1169/0 462 - North Area (1982 -2008) Revenues City Revenues 452- 0000 - 311 -1000 Tax Levy 762,535.73 1,245,200.00 61% - 452- 0000 - 311 -2DOO Tax Levy - Delinquent Years 23,981.92 NIA 786,517.65 1,245,200.00 63% Other Miscellaneous Revenue 452 -0000- 362 -1000 Interest on Investment Earnings 16 556.21 62 000.00 30% 34,D00.00 18,556.21 62,000.00 30%o 34,000.00 Expenses Purchased Services 452 -0000 - 430 -4330 Professional Services 2,420.48 3,000.00 81% 2,420.48 3,000.00 81% Other Finance Uses 452- 0000 - 475 -4750 Payments to Primary Governments (20048 and 2005B Bonds) 1,819,400.19 1,825,000.00 100% 1,750,000.00 Unaudited Data - For Management Purposes Only —04 City of Fridley HRA Budget Fiscal Year 2009 2008 Activity YTD as a % Of Account Description _ through 10131/08 FY 2008 Budget Budget FY 2009 Budget 1,819,4DO.19 1,825,000.00 100% 1,750,000.00 )O tom. a Total Expensesti Worth Area ;u t .: a " jjs0,Vg0 00 466 - Lake Pointe (1986-2026) Revenues City Revenues 455 -DOOD -311 -1000 Tax Levy 360,132.94 679,800.00 53% 720,000.00 455 -0000 -311 -2000 Tax Levy - Delinquent Years 557.56 Expenses N/A 65,100.00 Other Miscellaneous Revenue 360,690.50 679,800.00 53% 720 ODO 00 455 -0000- 362 -1000 Interest on Investment Earnings 1,863.25 2,000.00 _ 93% 2 000 DO 55% 1,863.26 2,000.00 93% 2 000 DO TOtal;Revefivas 1:ake'PO h.:. x}fi, gFcw do ""sax �K362;6Gib" b 681.; 800' f3%�kai722,000t1Ot 380,000.00 456- 0000. 311 -1000 456 -0000- 311 -2000 Expenses 36,331.42 65,100.00 56% 72,000.00 Purchased Services 53% 34.92 458 -000D -362 -1000 Interest on Investment Earnings NIA 455-00004304330 Professional Services 1,096.47 2,000.00 55% 1,200.00 Capital Outlay 1,096.47 2,000.00 55% 1 200 00 455 - 0000 - 430 -4536 Parking Facilities (Medtronic Pay as you go) 324,621.45 611,820.00 53% 648,000.00 23,000.00 324,621.45 611,820.00 53% 648,000.00 'w,,ro � 7AY:40 6D%"""�'�- '74S.�QgO.�QO - - Purchased Services 466 - Winfield (1986 -2012) Revenues City Revenues 190,068.42 356,800.00 53% 380,000.00 456- 0000. 311 -1000 456 -0000- 311 -2000 Tax Levy Tax Levy - Delinquent Years 36,331.42 65,100.00 56% 72,000.00 356,$DO.00 53% 34.92 458 -000D -362 -1000 Interest on Investment Earnings NIA 59,000.00 Other (Miscellaneous Revenue 36,366.34 65,100.00 56% 72,000.00 456 -0000 -362 -1000 Interest on Investment Earnings 7,712.10 23,000.00 34% 2,000.00 7,712.10 23,000.00 34% 2 ODO 00 �srwiaw�sa- 'w,,ro � 7AY:40 6D%"""�'�- '74S.�QgO.�QO Expenses Purchased Services 456 - 0000 - 430 -4330 Professional Services 1,054.27 1,000.00 105% 1,200.00 1,064.27 1,000.00 105% 1 200 DO Capital Outlay 456 -DOOD- 430 -4521 Capital Outlay - Northstar Land Acquisition 678,000.00 WA 578,000.00 WA 468 - Onan (1989 -2016) Revenues Ctty Revenues 458 - 0000- 311 -1000 Tan Levy 458 -ODOD -311 -2000 Tax Levy - Delinquent Years 190,068.42 356,800.00 53% 380,000.00 128.76 N/A Other Miscellaneous Revenue 190,197.18 356,$DO.00 53% 380,000.00 458 -000D -362 -1000 Interest on Investment Earnings 19,875.33 59,000.00 34% 6,000.00 19,875.33 59,000.00 34% 6,D00.00 Unaudtted Dafa - For Management Purposes Ordy City of Fridley HRA Budget Fiscal Year 2009 Expenses Purchased Services 4584000 -43D -4330 Capital Outlay 458-0000.430 -4521 Professional Services Capital Outlay - Northstar Land Acquisition 462 - UnlversityfOsborne (1992.2018) Revenues 2008 Activity YTD as a % of rough 10/31/08 FY 2008 Budget Budget 1,223.07 1,500.00 82% 1,500.00 1,223.07 1,500.00 82 °% 1,500.00 1,690,000.00 WA 1,690,000.00 WA FT . I . : i'lc -. -�- 1 1' I t dx!^ iK .. ! 1 f I•':n, City Revenues 462 -0000- 311 -1000 Tax Levy 25,838.54 44,000.00 5g°/, 50,000.00 462 -000D -311 -2000 Tax Levy - Delinquent 3.01 25,841.55 - WA " 44,DDO.DD 59% 50,000.00 Other Miscellaneous Revenue 3,515.30 11,000.00 32% 1,000•DD 462 -ODOO- 362 -1000 Interest on Investment Earnings 3,515.30 11 00020 32% 1,000.00 Expenses Expenses Purchased Services 463 -0000- 430 -4330 Professional Services 1,414.02 1,500.00 Purchased Services 462 -0000- 430 -4330 Professional Services 1,422.46 1,500.00 95,5�•� °!0 1 1,500.00 1,500.00 1,422.46 1,500.00 95% Capital Outlay - Northstar Land Acquisition 200,000.00 WA Capital Outlay 462-00006-430-4621 Capital Outlay - Northstar Land Acquisition 300,000.00 WA WA WA 300,000.00 463 - McGlynn (1992 -2019) Revenues City Revenues. 463- 0000 -311 -1000 Tax Levy 20,166.09 36,000.00 56% 40,000.00 20,166.D9 36,00D.00 56% 40,000.00 Other Miscellaneous Revenue 463- 0000 -362 -1000 Interest on tnvestmerd Earnings 2,356.11 7,000.00 34% 1,000.00 1,000.00 2,356.81 7,000.00 34% Expenses Purchased Services 463 -0000- 430 -4330 Professional Services 1,414.02 1,500.00 94% 1,500.00 1,500.00 1414.02 1,500.00 94% Capital Outlay 463 - 00001430 -4521 Capital Outlay - Northstar Land Acquisition 200,000.00 WA 200,000.00 WA 464 - Satellite (1996 -2023) Revenues Unaudked Data - For Management Purposes Ony JO Account Description City Revenues 464 -DOOR- 311 -lDDO Tax Levy 4640000- 311 -2000 Tau Levy - Delinquent Years 464 -0000- 3341000 Residual MV Homestead Credit Other Miscellaneous Revenue 4640000 -362 -1000 Interest on Investment Earnings City of Fridley HRA Budget Fiscal Year 2009 2008 Activity YTD as a % of through 10131/08 FY 2008 Budget Budget FY 2009 Budget 26,903.93 51,400.00 52% 54,000.00 49.33 467 -ODOD -311 -1000 Tax Levy N/A Purchased Services 58% 27,000.00 NIA 4,80 26,953.26 51,400.00 52% 54,D00.00 4,651.05 15,000.00 31% 1,000 00 4,651.05 15,000.00 31% 1,000.00 Totai R6"hi"�SaleltWe MRW .' Rei �? + Ipr43 rs Expenses 45,500.00 46% 467 -ODOD -311 -1000 Tax Levy 13,489.10 Purchased Services 58% 27,000.00 467 -0000 -311 -2000 Tax Levy - Delinquent Years 4,80 4640DOD- 430 -4330 Professional Services 1,307.47 1,500.00 870/0 1,500.00 Capital Outlay 1,307.47 1,500.00 87% 1,500.00 464 - 0000. 430 -4521 Capital Outlay - Northstar Land Acquisition 400,000.00 Interest on Investment Earnings NIA 20.10 84% 400,000.00 N/A 838.16 nww��f(li;9.'3pla- 84% aYN1p.'i4 Expenses -_.: ' tea* ha?1. _ r�tnmyvn��•�w,rr� Purchased Services _. 467 - 67th Ave (1997.2023) Revenues City Revenues Tax Levy 20,800.20 45,500.00 46% 467 -ODOD -311 -1000 Tax Levy 13,489.10 23,300.00 58% 27,000.00 467 -0000 -311 -2000 Tax Levy - Delinquent Years 4,80 468 -0000- 3341000 NIA Other Miscellaneous Revenue 13,493.90 23,300.00 58% 27 ODO 00 467 -0000 -362 -1000 Interest on Investment Earnings 20,10 42 000.00 N/A Interest on Investment Earnings 838.16 20.10 84% NiA :JiratHi��Y.�6$,.„'�,t)i. 838.16 nww��f(li;9.'3pla- 84% aYN1p.'i4 Expenses -_.: ' tea* ha?1. _ r�tnmyvn��•�w,rr� Purchased Services _. . ... -- - ware 467 - 0000.430-4330 Professional Services 1,062.71 1,500.00 71% 1,500 00 Capital Outlay 1,062.71 1,500.00 71% 1 500 DO 467 -DODO- 4314510 Capital Outlay (Linn Pay as you go) 12,145.00 20,970.00 58% 24 3D0 00 Professional Services 12,145.00 20,970.00 58% 24,30D.00 1,341.23 1,500.00 89% 1.5G0.00 468 - Gateway East (2001 -2028) Revenues City Revenues 468- 0000 - 311 -1000 Tax Levy 20,800.20 45,500.00 46% 42,000.00 468 -0D00 - 311 -2000 Tax Levy- Delinquent Years 1,443,18 - NIA 468 -0000- 3341000 Residual MV Homestead Credit N/A Other Miscellaneous Revenue 22,243.38 45,500.00 49% 42 000.00 468 -0000- 362 -1000 Interest on Investment Earnings 838.16 1,000.00 84% 1,000.00 838.16 1,000.00 84% 1 ODO 00 .,%�@\�4!� -_.: ' tea* ha?1. _ r�tnmyvn��•�w,rr� - _. . ... -- - ware - _ ...... V3f Expenses Purchased Services 468- 0000 -43D -4330 Professional Services 1,341.23 1,500.00 890/0 1 500 DO 1,341.23 1,500.00 89% 1.5G0.00 Unaudited Data - For Management Purposes Only City of Fridley HRA Budget Fiscal Year 2009 2008 Activity YTD as a % of Account DescrIpUon through 10/31/08 FY 2006 Bud et BudW FY 2009 Bud t �OL"! /rromeT� ili��"`��M�a�rrlFllA1�L�# .•nis '4LtI Yl -M/ -J8 ~' F4°.rk�- W'VV11 ViR" �.i�'��5�'�,.fvkr YY.-'A 470 - Gateway West (2006 -2032) Revenues City Revenues 470 -0000- 311 -1DDD Tau Levy 2,565.94 - NIA 5,200.00 470 - 0000 -311 -2000 Tax Levy - Delinquent Years - N/A WA 5,200.00 Other Miscellaneous Revenue NIA 2,565.94 472 - 0000362 -1000 Interest on Investment Earnings 145.50 Other Miscellaneous Revenue - 393,750.OD 0 °l° 175,000:00 470 -DDOD -362 -5100 Sale of Misc Property 307.93 200.00 154% Expenses 47D -ODOR -362 -1000 Interest on Investment Earnings Purchased Services 472 - 0000 - 430 -4330 Professional Services NIA - 470 -DODO- 362 -6100 Miscellaneous Revenue (Insurance Claim) 14,375.00 14,682.93 - 393,950.00 4% 175,000.00 AIR "fillibbas Expenses Purchased Services 47D -0000- 430 -4330 Professional Services (Loan Closes) 2,182.13 12,000.00 18% 5,000.00 470 -OODD- 430.4340 Services Contracted (Mowbrg Contract) 2,571.50 2,500.00 103% 4,000.00 47D- 0000430 -4350 Payments to Other Governments (Anoka County - Property Tax) 1,472.42 - WA 9,0DD.D0 6,226.05 14 500.00 43% Capital Outlay 470 -0000- 430 -4530 Improvements other than building (Final Asphalt) 50,000.00 0% 50,000.00 0% 472 - TIF #19 (2009.2034) Revenues City Revenues 14,741.88 - NIA 149,000.00 472 - 0000311 -1000 Tax Levy - WA 472 - 0000311 -2000 Tax Levy - Delinquent Years N/A 149,000.00 Other Miscellaneous Revenue NIA NIA 472 - 0000362 -1000 Interest on Investment Earnings 145.50 52% 29,000.00 Other Miscellaneous Revenue 501- 0000362 -1000 Interest on Investment Earnings 145.50 N/A 66% 8,000.00 6,631.73 b Expenses 8,000.00 Purchased Services 472 - 0000 - 430 -4330 Professional Services 5,031.72 5,000.00 101% 6,000.00 472 - 0000431 -4510 Capital Outlay (Pay as you go) - 5,031.72 - WA 134,100.00 5,000.00 101% 140,1DO.00 601 - Housing Replacement (1997 -2024) Revenues City Revenues 501 - 0000 -311 -1000 Tax Levy 14,741.88 28,600.00 52% 29,000.00 501 -0000311 -2000 Tax Levy - Delinquent Years - WA 501 - 0000334 -1000 MV Homestead Credit - - NIA 14,741.88 28,600.00 52% 29,000.00 Other Miscellaneous Revenue 501- 0000362 -1000 Interest on Investment Earnings 6,631.73 10,000.DO 66% 8,000.00 6,631.73 10,000.00 66% 8,000.00 Unaudited Data - For Management Purposes Only 12- City of Fridley HRA Budget Fiscal Year 2008 2008 Activity YTD as a % of Account Description through 10/31/08 FY 2008 Budget Budget FY 2009 Budget w_ sTOta1 R60 9 � �� ouSing Rsp7a nlB1l��`� -�#r� p "�� , y �-�,1 �� 4a �i�,� f H "= � Expenses Purchased Services 501 - 0000 - 430 -4330 Professional Services 501 - 0000 - 430 -4340 Services Contracted (Mowing Contract) 1,443.27 1,500.00 96% 1,000.00 267.00 1,000.00 27% 500.00 1,710.27 2,500.00 68% 1,500.00 7btal F1IP61�8b .z'�ICIIS�nBlaCelr1811� at t� h eve 3k aaygi Net 9recoiriQ .. , onsin�jf ®pia 5 ceirterlt��'=:a��- t :?,�«'�. r'+�:':s ✓ vi. �'vi,�..YS"��'�.�'. �"-s , , 3�, $�`..��'.+ a'�5'n�'`s�"` +� ,a"ee 'Sid' �: �� k '�` Oda V' i # �J. � .,. �� a664.s ; w=a ,1QD.OQ �. � a��v .�� '' `��- 35�t►O.DQt' Unaudffed Data - For Management Purposes Only 13 City of Fridley HRA Debt Schedule Debt Payment Schedule PER TIF District Cash Balance 10/31/08 Second Half 2008 Tax Increment 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 TIF Districts #1 and #3 2008 through 2012 Expire 2009 Expire 2008 TIF #1 TIF #3 Center City North Area Total 2,682,202 1,136,028 3,818,230 289,900 617,525 907,425 615,000 - 615,000 (12,942) (1,753,553) (1,766,495) (604,906) - (604,906) (608,003) - (608,003) (618,159) - (618,159) Approximate Ending Cash Balance 1,743,092 (0) *Allocations derived by trying to use up cash on TIF #2 first followed by TIF #3 and then TIM *Please note that we are projecting a cash surplus of roughly 1.7M after the debt service is paid back 1s ACTION ITEM ri HRA MEETINO OF DECEMBER 4, 2008 MY of FRIDLEY Date: November 25, 2008 To: William Burns, City Manager From: Paul Bolin, Asst. Executive HRA Director Scott Hickok, Community Development Director Subject: Northstar Rail Reimbursement Agreement Attached to this memorandum is a draft reimbursement agreement between the HRA and the Anoka County Regional Rail Authority ( ACRRA). The agreement is necessary for ACRRA to proceed with signing the Counties Transit Improvement Board (CTIB) grant agreement and receive the funding necessary to construct the Fridley Station. As a requirement of the CTIB grant agreement, properties on which their funding will be spent may not be tied up in litigation, unless accommodations for reimbursement are in place. A final version of the agreement with resolution will be distributed prior to next week's HRA meeting. REIMBURSEMENT AGREEMENT This REIMBURSEMENT AGREEMENT ( "Agreement "), dated - as of 2008, is made by and between the Housing and Redevelopment Authority in and for the City of Fridley, a political subdivision of the State of Minnesota (the "HRA "), and the Anoka County Regional Rail Authority, a political subdivision of the State of Minnesota (" ACRRA"). RECITALS A. The Counties Transit Improvement Board ( "CTIB "), a Minnesota joint powers board established under the authority of Minn. Stat. Sections 297A.992 and 471.59, and ACRRA propose to enter into a Capital.Grant Agreement providing for the making of a grant by CTIB to ACRRA to pay for a portion of the costs to construct the Fridley commuter rail station on the Northstar commuter rail line. B. Approximately $1,500,000 of the grant will be used to pay for construction of a park -and -ride lot, access, storm water pond, head house and related improvements on a parcel on the east side of the station (the "Property "). C. The HRA obtained title, and possession of the Property pursuant to an order rendered in an eminent domain proceeding brought by the HRA against Main Street Fridley Properties, LLC (the "Landowner "), which order the Landowner has appealed. D. CTIB is unwilling to disburse the funds to pay for construction of the parking lot on the Property unless ACRRA agrees to reimburse CTIB for such funds if the condemnation is not resolved favorably for the HRA and another public entity is not successful in obtaining title to the Property. E. ACRRA is unwilling to agree to reimburse CTIB unless the HRA agrees to reimburse ACRRA for any amounts ACRRA may be required to reimburse CTIB. In consideration of the foregoing, the parties agree as follows: 1. • In the event that the Landowner's appeal is not resolved in favor of the HRA either judicially or by voluntary agreement of the parties, and neither ACRRA nor another public entity is successful in obtaining title to the Property for commuter rail purposes within a reasonable period of time thereafter, the HRA agrees to reimburse ACRRA for any grant amounts which ACRRA is required to reimburse to CTIB in amounts not to exceed $1,500,000 plus costs not to exceed $250,000 to restore the Property to its original condition. The HRA shall pay such amounts to ACRRA within sixty (60) days of receiving a written request for reimbursement from ACRRA. IN WITNESS WHEREOF, the foregoing is executed and delivered as of the date first indicated above. HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA By Its Chairman By Its Executive Director ANOKA COUNTY REGIONAL RAILROAD AUTHORITY By Its By Its 9571- 71/Refmbursement Agree - ACRRA KM: 4846- 5249 -6387, v. 1 ACTION ITEM HRA MEETING OF DECEMBER 4, 2008 CITY of FRIDLEY Date: November 25, 2008 To: William Bums, City Manager From: Paul Bolin, Asst. Executive HRA Director Scott Hickok, Community Development Director Subiect: HRA — MnDOT Joint Powers Agreement Attached to this memorandum is a draft joint powers agreement between the HRA and the Minnesota Department of Transportation. The agreement simply strengthens the HRA's authority to acquire property previously granted in a Memorandum of Understanding. MnDOT is currently reviewing this most recent draft. A final version of the agreement with resolution will be distributed prior to next week's HRA meeting. JOINT POWERS AGREEMENT This Joint Powers Agreement ( "Agreement "), dated as of the day of November, 2008 (the "Agreement "), is made by and between the MINNESOTA DEPARTMENT OF TRANSPORTATION ( "MnDOT "), and the HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY ( "HRA"). Reeitals WHEREAS, MnDOT is a duly established department of the State of Minnesota headed by the Commissioner of Transportation, appointed by the Governor of the State of Minnesota. The HRA is a duly constituted housing and redevelopment authority established under the laws of the State of Minnesota, Chapter 469; and WHEREAS, Minnesota Statutes Section 174.82, et seq., makes computer rail facilities a government function serving a public purpose and a public necessity and making MnDOT responsible for all aspects of commuter rail within the State of Minnesota; and WHEREAS, Minnesota Statutes Section 174.82 authorizes MnDOT to enter into agreements with another public entity to carry out MnDOT's responsibilities for commuter rail; and WHEREAS, Minnesota Statutes Section 469.012, subd. 1(g) authorizes the HRA to acquire by the power of eminent domain, as set forth in Minnesota Statutes Chapter 117, such real estate interest as it may require when it determines doing so is necessary and for a public purpose; and WHEREAS, MnDOT and the HRA have previously entered into a Memorandum of Understanding dated January 25, 2008, a copy of which is marked Exhibit A, attached hereto and incorporated herein by reference, which was intended to authorize and direct the HRA to proceed to acquire by condemnation certain property (the "Property") which is legally described on Exhibit B, attached hereto and incorporated herein by reference; and WHEREAS, the parties desire to enter into this more formal Agreement relating to the acquisition of the Property pursuant to the authority vested in both parties by Minnesota Statutes Section 471.59; NOW, THEREFORE, the parties hereto hereby agree as follows: 1. MnDOT does hereby assign and delegate its authority to the HRA to acquire, the Property necessary and convenient for the development, construction and operation of a commuter rail station, park and ride lot and associated facilities. The assignment and delegation of such condemnation authority is made for the purpose of expediting the acquisition of the property described on Exhibit B and authorizing the HRA to act on behalf of MnDOT with regard to such acquisition and condemnation. This assignment and delegation of such condemnation authority is retroactive to January 10, 2008, the date the HRA authorized the condemnation of the Property by adopting its Resolution No. 2008 -01 .entitled "Resolution Authorizing the Acquisition of Certain Property for Public Use by Right of Eminent Domain." 2. MnDOT and the HRA agree and understand that the assignment and delegation of MnDOT's condemnation authority in this regard is not in any respects a derogation of any and all authority the HRA has to acquire the Property in accordance with its statutory authority as hereinbefore set forth. The parties further agree that the execution and implementation of this Agreement will not obligate MnDOT to provide funds for the acquisition or condemnation of the Property, and the HRA agrees to provide all funds needed to complete the acquisition and condemnation of the Property. 3. The fee interest of the Property acquired by the HRA pursuant to this Agreement shall remain in the HRA subject to the HRA's agreement to lease such property rights, use rights and facilities acquired or constructed as provided in Minn. Stat. Section 473.4057 subdiv. 5 to the Anoka County Regional Rail Authority and its assignee, the Metropolitan Council, which latter entity has been designated by MnDOT as the operating entity for the Northstar Commuter Rail System, the facilitation and operation of which is the reason the parties are acquiring the Property. IN WITNESS WHEREOF, the parties have caused this Joint Powers Agreement to be duly executed. KM: 4852 -4920 -1411, v. 1 MINNESOTA DEPARTMENT OF TRANSPORTATION IM Commissioner of Transportation HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY IW 2 Lawrence R. Commers Chairperson William W. Burgs Executive Director AW CITY OF FRIDLEY INFORMATIONAL ITEM HRA MEETING DECEMBER 412008 Date: November 25, 2008 To: William Burns, City Manager From: Paul Bolin, Asst. Executive HRA Director Scott Hickok, Community Development Director Subiect: Gateway Northeast Property Acquisition Update Alano Society: The Alano Society purchase agreement was signed by all parties and has been delivered to Land Title in New Brighton. Title work is underway and a closing has been set for December 18th. Tae Kwan Do: A meeting set for last Friday was cancelled by Mr. Kim and a new date has not yet been set. The purpose of the meeting was for Dan Wilson and Mr. Kim to further discuss our purchase offer. Sikh Society: Dan Wilson is meeting with DJ Sikka of the Sikh Society on December 9t' to further discuss their sale to the HRA. 5905 University Avenue: The owners of Select Product Company have an opportunity to greatly increase the volume of their business. This would require that they relocate to a larger building and they approached me late last week to inquire about the HRA's interest in purchasing their property. This is the former Rapid Print building and is located immediately south of the Alano Society property. I have ordered an appraisal and will bring a draft purchase offer for your approval once the appraisal is received. Sinclair: We are still waiting for the Minnesota Pollution Control Agency to issue a decision on the environmental work done by the Javelin Group. I have a call in to Mark Perry at the Javelin Group for an update. I will provide a verbal update at next week's meeting. Fridley HRA Housing Program Summary Cover Page December 4, 2008 HRA Meeting Report Description Loan Application Summary Loan application activity (e.g. mailed out, in process, closed loans) for November and year -to -date. Loan Origination Report Remodeling Advisor Loan originations for November and year -to -date. Shows the number of field appointments scheduled and completed the Remodeling Advisor Services administered by Center for Energy and Environment. H:\-- Paul's Documents\HRA\HRA Agenda Items\2008\December 4, 2008\Housing Program Cover December6008.doc N c R O J N c O R V Q. Q. Q Sl N RS c O Q i 0a N c N O J N c O V � •Q. V am Qw. U') O O r r r 0 0 0 N O V y MOOd'rr000 N d V O L a B O O I� Lp 0 0 0 0 m �o x 0 0 0 0 0 0 0 0 N O V N CD N O O O O O O O O V O a c t C) 0 N O m C) CD 0 O CD N c W � V U. m tL 3 = ? c O c .a R c LL a IL O Z '� IL O) J U. 3 = J c d E C E W W E 0 W OU-0 pmt d to G Q Q Q= Q O T_Z�SW LSCO CL S S G G o CL G co r 'y Q3 W W V d .c r+. O co O L c O V .Q a R L_ LO � r c O 3 O V N r � C 3 O A d Q y O C N C O O 2 v s � 3 � c d J4 O r0+ 0 U a+ y O � c N N N d E O N aN+ 0O O N 01 N N N N ca C c O J O C V Q X CL U- w �+ O C � O O U z � O N c O � r+ V O m 2 Off. Z Q E co O O � N C N 0 -0 W •— z CL LL Q U') O O r r r 0 0 0 N O V y MOOd'rr000 N d V O L a B O O I� Lp 0 0 0 0 m �o x 0 0 0 0 0 0 0 0 N O V N CD N O O O O O O O O V O a c t C) 0 N O m C) CD 0 O CD N c W � V U. m tL 3 = ? c O c .a R c LL a IL O Z '� IL O) J U. 3 = J c d E C E W W E 0 W OU-0 pmt d to G Q Q Q= Q O T_Z�SW LSCO CL S S G G o CL G co r 'y Q3 W W V d .c r+. O co O L c O V .Q a R L_ LO � r c O 3 O V N r � C 3 O A d Q y O C N C O O 2 v s � 3 � c d J4 O r0+ 0 U a+ y O � c N N N d E O N aN+ 0O O N 01 N N N N ca C c O J O C V Q X CL U- w �+ O C � O O U z Fridley HRA Loan Origination Report November 25, 2008 Loan Originations - 0% Kitchen remodel - This Previous 2 8% Month Months YTD HRA Loans (incl. CFUF Discount loans) 1 14 15 HRA Deferred Loans 0% - - Other Loans (non -HRA) Room addition 3 3 Total 1 17 18 Fundina Sources 4% Exterior This Previous 12% Roofing Month Months YTD Fridley HRA $ 10,000.00 $ 150,001.00 $ 160,001.00 MHFA $ - $ 47,858.00 $ 47,858.00 Met Council $ - $ - $ - CDBG/HOME $ - $ - $ CEE $ 2,895.00 $ 2,895.00 , Other $ $ $ Total $ 10,000.00 $ 200,754.00 $ 210,754.00 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 17 18 Duplex Tri-Plex 4 to 9 Units 10 to 20 Units - - - 20+ Units - Total 1 17 18 Types of Improvements Interior # of Projects % of Total Bathroom remodel - 0% Kitchen remodel - 0% General plumbing 2 8% Heating system 7 28% Electrical system 1 4% Basement finish - 0% Insulation 1 4% Room addition - 0% Misc. interior projects - 0% Foundation 1 4% Exterior Siding/Fascia/Soffit 3 12% Roofing 2 8% Windows/Doors 7 28% Garage - 0% Driveway /sidewalk - 0% Landscaping 1 4% Misc. exterior projects - 0% Fridley HRA Performance Report November 25, 2008 Loans Loan Volume Origination Fees Inspection Fees $50.00 $15.00 30% $500,000.00 $160,001.00 32% $27,500.00 $8,250.00 $2,800.00 $0.00 $30,300.00 $8,250.00 27% $339,999.00 Loans Loan Volume Origination Fees Inspection Fees $20.00 $0.00 0% $200,000.00 $0.00 0% $11,000.00 $0.00 $2,800.00 $0.00 $13,800.00 $0.00 0% $200,000.00 All Programs $5,000.00 $0.00 0% $5,000.00 d .v L O °O Vi °o •; N QN L E Q� O Z 0.0 E L o m e Ln � � o 0 m o E c 'o CL Q. aq .y m m E d c 0 E 0 a th �m E� C m C) 0M 0000 C) -- - Oco .Q i a w tQ :3 ..0 (A a) E E O C .� L C >, cm CL O > 0 • �V -2Q2� i<CO0z0 o m e Ln � � o 0 m o E c 'o CL Q. aq Vdium FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY December 4, 2008 q Columbia Arena Site reported last month that Community Development Director Hickok met with a large developer working on purchasing the Columbia Arena. The developer was looking to bring a medical facility and senior housing to the site. There has been no news on this project since. 5 2 Foreclosure NRP noka County received $2.3 M in Federal Neighborhood Stabilization Program (NSP) funds to addre ss s housing needs in communities with "greatest need ". This program mirrors CDBG in much of its administration but has components that are very different and specific. Because of the difficulty in administering and reporting on the program, Anoka County will run the program County -wide. They are looking for communities to provide them with lists of foreclosed - vacant properties and they will then purchase the homes to be rehabbed and resold. The County will also issue forgivable fix up loans to V time home buyers, meeting income criteria, willing to rehab and live in the home for 10 years. Staff is meeting with Anoka County staff to review Fridley's list of vacant homes and discuss the program in greater deal on December 19`''. Additionally, Dr. Burns is preparing a newsletter article on the program. 13. ateway West Update YYt appears that Blueprint Homes is having the same cashflow problems that most builders are having in this current market. We are still awaiting siding on the home located on the corner of 57"' Place and Yd Street. Despite an upbeat attitude, and promises to side the home, Blueprint has not been able to complete this task and was issued a citation by the Planning Division for violating the City's Housing Maintenance Code. The HRA may want to consider other options for the remaining lots. One option may be to sell the remaining lots through our scattered site program (HRA would need to approve all home plans). With the current state of the housing market, it will take some time to finish the build out on this project regardless of the direction we move. QComforts of Home — Memory Care This group appears to be ready to start construction on a 44 unit memory care building located north of Miller Funeral Home on the former Crown Trophy site 5. 2009 Activities Preview Looking ahead to 2009 we will create the Transit TIF District authorized by last springs special legislation, oversee construction of the Northstar Station and plan for nearby development /redevelopment, continue to purchase properties along University Avenue, and work with Anoka County to rehab vacant foreclosed properties among other things. If there are any items you would like covered in upcoming issues of the Non - Agenda Update please send me an e -mail. bohnp @ci.fiidley.mn.us 11 City of Fridley Housing & Redevelopment Authority Regular Meeting December 4, 2008 Action Items Approval of Expenditures Approval of 11 -6 -08 Minutes Proposed 2009 Budget Fridley Housing and Redevelopment Authority Proposed 2009 HRA Budget ■ Purpose of tonight's presentation • Provide highlights of 2008 financial activity • Provide an overview of the proposed 2009 budget • Answer questions Proposed 2009 HRA Budget ■ Packet materials include: • Cash Balances as of 10/31/08 • General Fund, Housing Fund and'T1F Districts • 2008 Activity through 10/31/08 ♦ Final 2008 Budget ♦ Proposed 2009 Budget • Debt Service Schedule Proposed 2009 HRA Budget ■ The HRA Budget is divided into three categories. ♦ General Fund: Administrative and operating expenses ♦ Special Revenue Fund: Housing loan program ♦ Capital Outlay Funds: Tax increment districts, redevelopment projects and housing replacement program 2 2008 Activity Highlights and Recap ■ Northstar Land Acquisition ♦ Winfield - $578,000 ♦ Onan - $1,690,000 *University - $300,000 ♦McGlynn's - $200,000 ♦ Satellite - $400,000 Total - $3,168,000 2008 Activity Highlights and Recap ■ Moore Lake ♦ Effectively exhausted its cash balance and will become inactive /decertified at the end of 2008 Proposed 2009 HRA Budget Revenues ojecting total revenues of $3.4M for 2009, iich is a $1.3M decrease from 2008. Primarily driven by North Area (TIF #3) becoming inactive at the end of 2008 3 2 Proposed 2009 HRA Budget Expenses ■ Projecting total expenses of $3.8 M for 2009, which is a $71,000 increase from 2008. 0 Proposed 2009 HRA Budget 5tions? orthstar Rail — Reimbursement Agreement Grant Agreement (CTIB & ACRRA) B approved $9.921M for Fridley Station $1.5M to be spent on HRA land (parking, etc.) ;r agreement property must not have ongoing igation, unless reimbursement agreement in ace (RA drafted by HRA, ACRRA& CTIB) the risk to HRA, agreement addresses the )rst case scenario (landowner gets land back )m courts and improvements are removed). Have agreement and assurance that MnDOT would immediately condemn property under worst case scenario, preserving improvements. ' orthstar Rail — Reimbursement Agreement Recommendation tff recommends approval of the Resolution approving e Reimbursement Agreement between the HRA and is set to approve the agreement at their meeting 7eement needed to obtain the $9.921M in C TB riding and begin the construction of station. iproval tonight keeps the station on track to open with rest of the line in November of 2009. Bidding Process — December 12th — January Notice to Proceed — February 2009 Significant Construction Complete — September 2009 Final Construction Complete — October 2009 Northstar begins operations — November 2009 Northstar Rail — Joint Powers Agreement 'Recommendation aff recommends approval of the Resolution proving the JPA between the HRA and & the Attorney General's Office have I and approved the JPA ;nt simply strengthens the HRA's to acquire the rail station property, ly granted by MnDOT through a MOU. risk that HRA would need to reimburse CTIB for improvements on HRA Informational Items HRA Meeting December 4, 2008 1 C� ` \. 1.1 NE Update io — Closing set for December 18th. Kwan Do- Dan Wilson is working on getting a onse to our offer. lair — Expecting MPCA to rule on this case very tly. MPCA has indicated that the contamination d is not from a new leak; residual from a ious leak. . Society — Dan Wilson meeting with their - sentative on December 9ffi. i University — Appraisal is being completed. Monthly Housing Report HRA Loan Program Summary ber — Loans Closed ,F— 1 f -0 lers - 0 to Date — Loans Closed ,F— 15 f -0 iers - 3 YTD- 18 7 ' � c NEXT MEETING: January 8, 2009 Please Note: Meeting is the 2 °d Thursday of the Month, due to the Is' being a Holiday.