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HRA 10/02/2012 c k October 4,2012 HRA Meeting Regular Meeting Agenda 7:00 p.m. Call to order Roll call Action Items 1. Approval of expenditures 2. Approval of September 6, 2012, Meeting Minutes 3. Approval of 2013 HRA Meeting Dates 4. Approval of TIF District#21 GWNE 5. Approval of Modifications to Inter-fund Loan for TIF District#21 Informational Items 1. Housing Replacement Program Update 2. Housing Loan Program Update Adjournment K:\COMMISSION AGENDAS\2012 HRA Commission Agendas\12 10 04.docxK:\COMMISSION AGENDAS\2012 HRA Commission Agendas\12 10 04.docx September,2012 l Fridley 1-11-c1-11- Account able J Checking Date Check# Vendor Invoice# Description Code Amount 8/23/2012 29422 Sun Newspapers 16468 Public Notice-Sale of 6071 University 474-0000-430-4334 44.55 44.55 9/18/2012 29421 Passau,Inc. 5572 Miscellaneous Mowing Various 1,220.00 Mowed week of 8/28 Tax 100-0000-430-4340 83.88 1,303.88 9/5/2012 29417 Bob's Produce Ranch 32319 Retirement Cake-John Meyer 100-0000-430-4346 16.99 16.99 9/12/2012 Monroe Moxness Berg 133168 Administration Fees 100-0000-430-4330 530.00 100-0000-430-4330,4606 130.00 100-0000-430-4330,4607 1,925.75 474-0000-430-4330 6,420.55 9,006.30 9/10/2012 Ehlers 345230 OSA TIF Reporting 100-0000-430-4330 292.50 292.50 9/14/2012 Center for Energy&Environment 11060 Revolving Loan 160 Craigbrook Way NE 265-0000-127-0000 34,754.00 Loan Origination Fees-Koolman 265-0000-430-4340 550.00 Remodel Advisor Visits-3 265-0000-430-4340 390.00 35,694.00 9/11/2012 Central Turf&Irrigation 6027263-00 Irrigation Repair for Medical Building 100-0000-430-4340 245.88 6027301-00 100-0000-430-4340 117.91 363.79 9/17/2012 Wilson Development Services 22928 Development fees-Family Animal Hospital 474-0000-430-4330 1,016.22 1,016.22 9/18/2012 Passau,Inc. 5596 Miscellaneous Mowing Various 1,185.00 Mowed week of 9/11 Tax 100-0000-430-4340 81.47 1,266.47 9/21/2012 City of Fridley Special Assessments-Fourmies Ave 14-30-24-31-0092 100-0000-430-4530 6,312.00 Fourmies Ave 14-30-24-31-0093 100-0000-430-4530 6,312.00 Fourmies Ave 14-30-24-31-0095 100-0000-430-4530 6,312.00 Fourmies Ave 14-30-24-31-0098 100-0000-430-4530 6,312.00 25,248.00 September,2012 Fridley HRA Accounts Payable Checking Account Register Date Check# Vendor Invoice# Description Code Amount 10/3/2012 Title Smart,Inc Purchase of 587 Ironton Street NE 501-0000-430-4520 41,047.67 41,047.67 10/4/2012 Title Smart,Inc Purchase of 5909 Main Street NE 501-0000-430-4520 56,182.50 56,182.50 10/1/2012 Passau,Inc. 5680 Miscellaneous Mowing Various 1,185.00 Mowed week of 9/25 Tax 100-0000-430-4340 81.47 1,266.47 Total September Invoices $ 172,749.34 CITY OF FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY COMMISSION Septen er 6, 2012 CALL TO ORDER: // Chairperson Commers called the HRA Meeting to order at 7:00 p.m. ROLL CALL: MEMBERS PRESENT: William Holm Pat Gabel Larry Commers Stephen Eggert John Meyer OTHERS PRESENT: Paul Bolin, HRA Assistant Executive Director Scott Hickok, Community Development Director William Burns, City Manager Jim Casserly, Development Consultant Darin Nelson, Finance Director/Treasurer Becky Kiernan, Accountant ACTION ITEMS: 1. Approval of Expenditures MOTION by Commissioner Gabel to approve the expenditures as presented. Seconded by Commissioner Meyer. Commissioner Gabel noted that the Sun Focus Newspaper is still used for the city's legal notices and it is not delivered to all residents in Fridley. Paul Bolin,HRA Assistant Executive Director, answered that he was not sure how wide spread the Focus was delivered but it is still distributed in Fridley and is the official city's local newspaper. Commissioner Gabel was concerned if residents do not get a paper how they would know about the public notices. Jim Casserly, Development Consultant, said that they have not looked at that in a long time because the Sun Focus meets the requirements. He will double check on the distribution and requirements and get back to the Authority. Chairperson Commers asked for staff to verify the requirement for publication of notices. UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY 2. Approval of August 2,2012 Meeting Minutes Housing and Redevelopment Authority Meeting of September 6,2012 2 MOTION by Commissioner Holm to approve the minutes as presented. Seconded by Commissioner Eggert. Commissioner Meyer asked for the following correction to be made: page 3, third to the last paragraph, change to "Chairperson Commers noted that Dr. Lemay, owner of Fridley Pet Hospital, did have an interest and asked for an appraisal to be done." Commissioner Holm noted the following corrections: page 2, second paragraph, should read"Mr. Bolin said that boulder Contracting has now submitted..." page 2, fourth paragraph from bottom, "Public Hearing" is spelled incorrectly... page 2, third paragraph from the bottom, address should be "381 Ironton Street NE" page 5, last paragraph, should say "Columbia Arena" UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE MINUTES APPROVED AS AMENDED 3. Approval of 2012 Tax Levy for Taxes Payable in 2013 Darin Nelson, Finance Director/Treasurer, stated that the MN Statutes authorize HRA's to levy properties within their community to support housing and redevelopment efforts. The Levy is equal to .0185% of taxable market value. The 2013 levy will allow HRA to collect$392,400 which is down from $434,000 in 2012 and $473,000 in 2011, because the market value has decreased and the Market Value Homestead Exclusion was implemented. Mr. Nelson said that the impact on the taxpayer for a $150,000 home will be $23.36; and on a$1 million commercial property will be $185.00. Staff Recommends approval of the resolution consenting to the HRA Tax Levy. This provides the HRA the ability to fund ongoing and future redevelopment efforts and the ability to meet housing needs. The Levy will be certified and delivered to the County by September 17, 2012 and City Council will act on this item on September 10, 2012. MOTION by Commissioner Gabel to approve the 2012 Tax Levy for Taxes Payable in 2013. Seconded by Commissioner Eggert. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY 4. Public Hearing and Consideration of Resolution Authorizing Sale of 465 Mississippi Street NE MOTION by Commissioner Holm to open the public hearing. Seconded by Commissioner Eggert. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE PUBLIC HEARING OPENED AT 7:15 p.m. Paul Bolin, HRA Assistant Executive Director, stated that Novak Fleck have built and sold two homes and are proposing to purchase the vacant lot at 465 Mississippi Street. This home will be a mirror reverse image of the home on Hugo Street. The proposed home will have a total of three bedrooms and 13/1 bath. The upper level will have a total of two bedrooms and a full bathroom. The lower level will have one finished bedroom and a3/4 finished bathroom. Staff recommends approval of the resolution and contract for redevelopment, authorizing the sale to Novak—Fleck Builders, INC. This puts new investment in the neighborhood and the proposed home design is consistent with HRP Guidelines. Housing and Redevelopment Authority Meeting of September 6,2012 3 i—�-� Commissioner Gabel asked what the sale price is for this home. Mr. Bolin answered about $179,000 MOTION by Commissioner Holm to close the public hearing. Seconded by Commissioner Gabel. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE PUBLIC HEARING CLOSED AT 7:19 p.m. MOTION by Commissioner Gabel to approve the consideration of a resolution authorizing sale of 465 Mississippi Street NE. Seconded by Commissioner Eggert. UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY 5. Public Hearing and Consideration of Resolution Authorizing Sale of 5745 3rd Street NE MOTION by Commissioner Eggert to open the public hearing. Seconded by Commissioner Gabel. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE PUBLIC HEARING OPENED AT 7:20 ,°•—•• Paul Bolin,HRA Assistant Executive Director, stated that Home Detail has submitted a purchase agreement to purchase this lot and they already have a buyer for the home. This home will be 1,200 square feet and have a basement. There will be a total of two bedrooms and two bathrooms. One bath will be finished in the lower level with the mechanical space, and provides room for a future office and family room. The main level will have a kitchen and a large open dining/living space. The second story will have two bedrooms, a full bathroom, laundry and small office space. Staff recommends approval of the resolution and contract for redevelopment, authorizing the sale to Home Detail, Inc. This new home will encourage other builders/homebuyers to look at this neighborhood. The proposed home design is consistent with homes previously built in the Gateway West Neighborhood. Jeff Magdic, Home Detail, has constructed other houses in the neighborhood and this is consistent to the other homes that were built. Everything they build is custom. This home is already sold and the buyers are ready to move in as soon as it is completed. Commissioner Eggert asked when the contractor plans to get in the ground and turn over the home. Mr. Magdic answered that they are ready to get started and move in as soon as possible. Chairperson Commers asked how long this construction would take. Mr. Magdic answered three months or less; hopefully. Commissioner Holm asked for clarification on the plans; this is a two story home and the foundation n below is unfinished. Housing and Redevelopment Authority Meeting of September 6,2012 4 Mr. Magdic answered yes; except for the% bathroom that will be finished in the basement. It is possible the lower level may be finished depending on the financing. The square footage includes the first and second floor but not the basement. Commissioner Gabel asked what the selling price would be. Mr. Magdic answered $150,000 or so depending on what they decide to build. The home could be closer to $200,000 if they construct a bonus room above the garage. MOTION by Commissioner Holm to close the public hearing. Seconded by Commissioner Gabel. UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE PUBLIC HEARING CLOSED AT 7:29 p.m. MOTION by Commissioner Eggert to approve the consideration of a resolution authorizing, of 5745 3`d Street NE. Seconded by Commissioner Holm. UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY 6. Public Hearing and Consideration of Sale—6071 University Avenue NE MOTION by Commissioner Gabel to open the public hearing. Seconded by Commissioner Eggert. UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE PUBLIC HEARING OPENED AT 7:31 p.m. Paul Bolin, HRA Assistant Executive Director, stated that the last three to four months there has been interest from several people regarding this property. Staff received a purchase offer for the former Sinclair Station from the McNutt Companies to build retail space on the site. Scott Hickok has been working with Mr. McNutt and an architect to develop concept plans to obtain funds and create a detailed engineering plan for a pedestrian over pass. The complexity of this project means that staff is not ready to present this project yet. Mr. Bolin reviewed the Proposed Timeline: • Mid September—Grants awarded by Met Council • October/November—Site plan to Planning Commission and City Council • November/December—Development agreement and sale reviewed by HRA Staff recommends a motion to open public hearing, and a second motion to continue the public hearing. Scott Hickok stated that this has become a more complicated project but very exciting. An over pass is a very positive thing to get people to and from the train station. Staff has three grant applications in right now; one is for this project(design money), and if it is successful $100,000 would be received to go towards the design of the overpass. The overall costs for designing an overpass will be $240,000- 260,000. There would be additional design money needed to make this happen. Staff is not saying this is an HRA expense; there are other avenues staff will continue to explore. Mr. Hickok said that discussions with Commissioner Kordiak indicated the Rail Authority may be able to help with funding. There are funds and sources out there to help once the design is complete. If we get Housing and Redevelopment Authority Meeting of September 6,2012 5 Met Council funding and secure other funds needed to design the over pass we can make this happen. At �-•� a minimum we need to know what the footprint of the elevator core will be as it relates to Mr. McNutt's project. This will let Mr. McNutt know how much he can build there to keep going forward. The Authority will have a lot of questions and staff will pull this together and come back in the next few months with more detail. As this relates to the McNutt property, he needs assurance to move ahead and will build his piece while we move ahead with the elevator core and overpass. Chairperson Commers asked if it were an issue that the overpass would cross a state highway. Mr. Hickok said staff would work with the State on crossing the state highway. In the early rounds they realize we are looking to put a pedestrian overpass across this highway and are enthusiastic about it. As long as they get the clearance they need, they don't seem too concerned. Commissioner Meyer asked about future parking; if there was sufficient room for parking to make this project viable. Mr. Hickok replied that every project has to stand on its own in terms of square footage and relative parking that is required based on the square footage. This also encourages alternate transportation like rail, walking and biking. Parking for the overpass is not the idea here; the parking is for tenants in the building and customers. Commissioner Meyer asked if there was enough space to fulfill the minimum legal parking requirements. n Mr. Hickok answered yes; the parking right now is in excess of what is required. William Burns, City Manager, asked how this retail building enhanced or blocked access to the overpass to the south. If he had a condo or apartment south of the overpass; how would he access the overpass? Mr. Hickok replied that the projects would work in concert with one another. There is a sidewalk in front of the area that would take you to the retail site. Staff thinks that a living and retail space would work well together. Commissioner Eggert noted that the design is rather contemporary which maybe too much for this area. This developer does contemporary modern facilities on very small tracks of land. Mr. Hickok answered yes; to combine an element that is fairly tall with one that is short the developer has thought how to make this work well. Although this is a different architecture for Fridley, staff felt this signature project is something HRA was looking for. Commissioner Meyer asked what rationale was used to choose an overpass instead of a tunnel. Mr. Hickok replied that the land area is better for an overpass and an underpass requires run distance and there would be a clearance issue plus it would eliminate some potential for development. An overpass is more compact and would allow room for more development on the corner. MOTION by Commissioner Holm to continue the public hearing to November 1, 2012. Seconded by Commissioner Eggert. Housing and Redevelopment Authority Meeting of September 6,2012 6 UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY Commissioner Eggert noted that Mr. Bolin said staff is running out of houses to buy; he asked what is happening out there as we need to do more work in this community to clean it up. Mr. Bolin said that staff has purchased some properties for$30,000 - $50,000 and now properties are $68,000 - $75,000. The last few months' prices have crept up and mortgage holders are not dealing right now. In addition the condition of these homes are in very poor shape which makes it expensive to even demolish the home and do soil testing to see if the lot could be sold at a later date. There is also not a lot of inventory out there and the homes that are out there are priced too high for the quality of the home. Commissioner Eggert said it may be worth it to develop more strategic locations. He asked if any homes were stlNcitity building code requirements. Mr. Hickok answered that code enforcement staff will contact the bank owned properties that are not mowing or have building issues and the banks have been good to take care of these issues. 7. Appreciation for John Meyer Chairperson Commers thanked Commissioner Meyer for his 28 years of service to the HRA. It has been a privilege to serve on this commission and the Authority appreciates everything Commissioner Meyer has done. The Authority has called on Commissioner Meyer's expertise on engineering and architectural understanding. The success of this commission belongs in great part to Commissioner Meyer. The Authority is fortunate to complete 14-15 projects while he served on the commission and .--. $100M of taxable property was added in the city during that time. Commissioner Meyer should take great pride in the amount of work he has done. Beyond the HRA Commissioner Meyer has contributed more to the community like serving on the school board and participation in community activities. On behalf of the City of Fridley Chairperson Commers presented Commissioner Meyer a Certificate of Appreciation. INFORMATIONAL ITEMS: 1. Housing Loan Program Update Paul Bolin, HRA Assistant Executive Director, reported that from July 15 —August 15 no loans were closed and there are a total of 7 year to date. There were two remodeling advisor visits during this timeframe making a total of 18 year to date. Scott Hickok, Community Development Director, said that the Columbia Arena will go before the Council on Monday, September 10, to consider subdividing the area into three lots and a SUP for the newer/older phase of the arena. The plan is to build 116 units and indoor parking. Staff is looking forward to a project happening on that site. Mr. Hickok said that the next phase of the Faulkner development is starting to happen. William Burns, City Manager, said that the ACCAP house TOD is on the Council Agenda for Monday night too,this is for the 13 unit home. ADJOURNMENT: Housing and Redevelopment Authority Meeting of September 6,2012 7 �•■•N MOTION by Commissioner Gabel to adjourn. Seconded by Commissioner Meyer. UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE MEETING ADJOURNED AT 8:10 P.M. Respectfully Submitted, Krista Monsrud Recording Secretary Bolin, Paul "Subject: Official Newspaper Section 12.01 of the City Charter requires the City to annually designate a legal newspaper according to state law. MN Statute 412.831 states the Council shall, annually at its first meeting of the year, designate a legal newspaper of general circulation in the city as its official newspaper. MN Statute 331A.01, subd. 7 - Defines public notice as "every notice required or authorized by law or by order of a court to be published by a qualified newspaper..." MN Statute 331A.01, subd. 8- defines qualified newspaper as, "a newspaper which complies with all of the provisions of section 331A.02. MN Statute 331A.02, subd. 1 - defines the requirements of a qualified newspaper as: (a) be printed in the English language in newspaper format (b) if daily be distributed five days a week, if not daily be distributed at least twice a month (c) if published weekly, have 50%of its news columns devoted to news of local interest to the community which it purports to serve. /4,d) be circulated in the political subdivision which it purports to serve, with either paid subscribers or unpaid ubscribers (e) have its offices be established in the county or an adjoining county of which it serves (f) file a copy of each issue with MN Historical Society (g) be made available at single or subscription prices to any person or entity requesting and making applicable payment, or be distributed without charge to local residents (h) have complied with all foregoing conditions of this subdivision for at least one year immediately preceding date of notice publication (i) publish a sworn USPS periodical-class statement of ownership and circulation between September 1 and December 31 of each year (j) after publication submit to secretary of state by December 31 a filing containing newspaper's name, address, phone number and statement it has complied with all requirements of this section. MN Statute 331A.02, subd. 5 - if in normal case of business maintains a web site and as a condition of accepting and publishing public notices, must agree to post all notices on its web site at no additional cost. MN Statute 331A.04, subd. 1 -The City when required by statute or charter to designate a newspaper for publication of its public notices shall designate a qualified newspaper in the following priority. Subd. 2 - if more than one or more qualified newspapers, the known office of issue of which are located within the political subdivision, one of them shall be designated; Subd. 3 - when no qualified newspaper has a known office of issue located within the political subdivision, but one or more qualified newspapers maintain a secondary office there, one of them shall be designated. ubd. 4- when no qualified newspaper has its known office of issue or a secondary office located within the political subdivision, then a qualified newspaper of general circulation there shall be designated. 1 Subd. 6 - Notwithstanding subdivisions 1 to 3, the governing body may designate any newspaper for publication of its official proceedings and public notices, if the following conditions are met: (1) the newspaper is a qualified medium of official and legal publication; (2) the publisher of the newspaper furnishes a sworn statement,verified by a recognized independent /`°` circulation and auditing agency, covering a period of at least one year ending no earlier than 60 days before designation, stating newspaper's circulation reaches not fewer than 75 percent of the households within the political subdivision; (3) the newspaper has provided regular coverage of the proceedings of the governing body of the political subdivision and will continue to do so. (4) the governing body votes unanimously to designate the newspaper (b) if the circulation falls under 75 percent within term of designation, its qualification to publish public notices for the political subdivision terminates. I spoke with Jeff Coolman, General Manger of the Sun Focus,this morning regarding Ms. Gabel's question about not receiving a Sun Focus. It is currently not being delivered to all of the households. In fact, it would be a financial hardship to the company to deliver to all of the households. He said business or zip codes drives where the delivery of the paper occurs, and that the papers are available at no cost to individuals at various establishments within the City. They recently worked with the City to provide circulation information in the utility bill to the residents. They received no complaints about their service. The paper hires an independent contractor to deliver the paper. He said the information is proprietary but would be happy to set up a meeting to show us where the paper is being delivered. He said if there are individuals that are not getting the paper who would like to receive it, that the City could ask to have the paper delivered to those individuals. He also said the legal information is available on their web site. I hope this helps to answer the questions that have arisen. If you are interested in viewing a map of their circulation, please let me know and I will schedule that meeting with Mr. Coolman. Debra A. Skogen, MMC City Clerk, City of Fridley 6431 University Avenue NE Fridley, MN 55432 763-572-3523 FAX 763-502-4981 skooend(a�ci.fridley.mn.us 2 COMMUNITY DEVELOPMENT DEPARTMENT PLANNING DIVISION Memorandum DATE: September 28, 2012 TO: HRA Commission Members FROM: Julianne Beberg, Planning Assistant SUBJECT: Proposed 2013 HRA Commission Meeting Dates The following dates are for your review and approval of the proposed 2013 HRA Commission meeting dates. Jan. Feb. Mar. April May June July Aug. Sept. Oct. Nov. Dec. P.-N 3 7 7 4 2 6 No 1 5 3 7 5 27 Mtg. 111 ACTION ITEM HRA MEETING OF OCTOBER 4, 2012 CITY OF FRIDLEY Date: September 26, 2012 To: William Burns, City Manager From: Paul Bolin, Asst. Executive HRA Director Subject: Resolution to Create Gateway NE TIF District #21 The Authority started to acquire properties along the east side of University Avenue in 2006. Demolition of the properties was done in two phases. The first in late 2009 and the second in 2011. Demolition of the structures started the Statutory time clock for the creation of a tax increment district. By Statute, the Authority needs to create a TIF District within 3 years of commencing demolition or lose the ability to do so. The Authority can, after district creation, delay collection of increment for an additional 4 years. The Authority has until ■•..■ December of this year to create the district, but can delay collecting increment until 2017. In late 2011 the Authority hired Premier Commercial Properties to market the site. Over the past few months there has been interest from different parties wanting to purchase all, or at least portions of, the property. Staff has met with developers interested in retail, market rate rental housing, and for sale townhomes. While no sales have yet been agreed to, it seems most likely that a mix of uses will end up on the site, and the TIF projections reflect that scenario. Staff has received no comments or concerns, on the creation of the district, from Anoka County or the Fridley School District. The City Council will hold a public hearing for the District's creation on October 8th. Attached to this memorandum are a copy of the updated TIF plan, a resolution and a memorandum from Attorney Casserly providing more detail on the District creation. Recommendation: In order to recover the Authority's investment, Staff recommends the Authority adopt the attached resolution, modifying the City's TIF plans and creating TIF District #21. MONROE 8000 Norman Center Drive T 952.885.5999 MOxNESS Suite 1000 F 952.885.5969 BERG Minneapolis,MN 55437-1178 www.MMBLawFirm.com James R.Casserly jasserly@mmblawfirm.com Direct 952.885.1296 MEMORANDUM TO: Fridley Housing Redevelopment Authority Attn: Paul Bolin, HRA Assistant Executive Director Attn: William Burns, Executive Director FROM: Monroe Moxness Berg PA James Casserly, Esq. DATE: September 26, 2012 RE: Approval of Tax Increment Financing District No. 21/Approve Modified Interfund Loan Our File No. 9571-78 The HRA is being asked to approve Tax Increment Financing District No. 21 ("TIF District No. 21" or "TIF District") and a Modified Interfund Loan. TIF District No. 21 includes the parcels that the Authority has been acquiring on the east side of University between 58th and the abandoned Citgo station just north of 61st. The Authority previously approved an interfund loan from its general fund to finance the acquisition, �--. demolition, relocation and other site preparation costs. It will soon be three years since the first buildings were demolished and the TIF Act requires that a redevelopment tax — increment financing district must be established within three years of the demolition of any buildings. Attached you will find the following: 1. The Tax Increment Financing Plan for Tax Increment Financing District No. 21. This is the same format that the Authority has followed for its previous tax increment districts. Subsection 23.6 describes the specific development expected to occur and Subsection 23.16 describes the duration of the TIF District and that we are requesting that the receipt of the first tax increment be deferred until the year 2017. Exhibit XXIII-A describes the PINs and Exhibit XXIII-B is a map showing the location of the PINs and TIF District No. 21. Exhibit XXIII-C is the Tax Increment Analysis based on the development described in Subsection 23.6 and assuming the deferral of tax increment until 2017. Page 4 of that Exhibit illustrates that it may be possible to generate over $7.5 Million of tax increment over the life of the District which would have a present value of $3.6 Million assuming a present value rate of 4%. Exhibit XXIII-D is the But-For test and describes the reasons for the creation of TIF District No. 21. Exhibit I-C is the Budget. The tax increment amount is taken from the cash flow and is shown on Exhibit XXIII-C-4; the amount of sales proceeds are an estimate of what the Authority might recover from the sale of parcels in TIF District No. 21. The projected costs are $4,735,000 of which $4,331,632 have already been incurred. The administrative costs are the allowable administrative fees and are reflected on the cash flow on Exhibit XXIII-C-4. The total amount of bonds to be issued is in every tax increment plan and simply shows the amount that might be supported by the tax increment revenue stream if the Authority and the City wanted to issue debt. However, in Tax Increment Financing District No. 21, the Authority has created an interfund loan and has used moneys in its general fund to pay for qualified costs and is hoping to recover those costs from future tax increment. 2. The resolution approving TIF District No. 21. This is the standard resolution which modifies your redevelopment plan, existing tax increment financing districts and approve the creation of Tax Increment Financing District No. 21. After this resolution is adopted, it will be forwarded to the City Council along with the TIF Plan. A Public Hearing on the establishment of the TIF District is scheduled for October 8, 2012. 3. The Resolution approving a Modified Interfund Loan. The Authority has .--� approved a number of interfund loans and, as indicated above, approved an interfund loan for the Gateway Northeast project some years ago. The original Interfund Loan Resolution needs to be amended to increase the amount, provide an interest rate, provide an interest start date, and to increase the length of the loan to conform with the duration of TIF District No. 21. The modified loan amount ($4,735,000) conforms with amounts for project costs that are in the Budget for the TIF District as noted above. By approving the establishment of Tax Increment Financing District No. 21 and the Modified Interfund Loan, the Authority has the opportunity to recover a substantial portion of its investment in the Gateway Northeast area. JRC/al Enclosures cc: City of Fridley Attn: Darin Nelson, Finance Director MMB:4818-3412-0721,v. 1 2 SECTION XXIII TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 21 (Gateway Northeast TIF District) Subsection 23.1. Statement of Obiectives. See Section I, Subsection 1.5, Statement of Objectives. Subsection 23.2. Modified Redevelopment Plan. See Section I, Subsections 1.2 through 1.15. Subsection 23.3. Parcels to be Included. The boundaries of Tax Increment Financing District No. 21 (the "TIF District") are described on the attached Exhibit XXIII- A and illustrated on Exhibit XXIII-B. Subsection 23.4. Parcels in Acquisition. The Authority may write down or acquire and reconvey real property, or interests therein, within this TIF District or elsewhere within the Project Area, at the time or times as the Authority may determine to be necessary or desirable to assist or implement development or redevelopment within the Project Area or the TIF District. The Authority may acquire any of the parcels described on Exhibit I-A and illustrated on Exhibit I-B by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of the Redevelopment Plan or the TIF Plan. Subsection 23.5. Development Activity for which Contracts have been Signed. As of the date of adoption of the TIF Plan, the Authority intends to enter into Redevelopment Contracts with three or more developers for the activities discussed below. Subsection 23.6. Specific Development Expected to Occur. At this time it is anticipated that the current parcels will be redeveloped including demolition and removal of blighted and substandard structures, remediation and the construction of the following in the Phases described below: Phase I: 4500 square feet of office/commercial with construction commencing in 2013; Phase II: 4500 square feet of office/commercial, 50 units of rental housing and 8 units of single family housing with construction commencing in 2014; Phase III: 50 units of rental housing and 8 units of single family housing with construction commencing in 2015; and Phase IV: 8 units of single family housing with construction commencing in 2016. Upon completion of the redevelopment, it is anticipated that 9000 square feet of office/commercial, 100 multi- family housing units and 24 single family housing units will ,..� be constructed with an estimated market value of approximately $12.0 M. 23-1 Subsection 23.7. Prior Planned Improvements. After due and diligent search, the Authority has determined that no building permits have been issued during the eighteen (18) months immediately preceding approval of the TIF Plan by the Authority. Subsection 23.8. Fiscal Disparities. The Council hereby elects the method of tax increment computation set forth in Minnesota Statutes, Section 469.177, Subdivision 3, clause (a) if and when commercial/industrial development occurs within the TIF District. Subsection 23.9. Estimated Public Improvement Costs. The estimated public improvement costs, including interest thereon to be incurred for the benefit of and within the TIF District and the Project Area are set forth on Exhibit I-C. Subsection 23.10. Estimated Amount of Bonded Indebtedness. It is anticipated that approximately $4.5 M of bonded indebtedness may be incurred with respect to this portion of the Project Area. Subsection 23.11. Sources of Revenue. Anticipated revenue sources to assist in the financing of the public improvement costs, pursuant to Subsection 21.9. above, include (1) general obligation and/or revenue tax increment obligations with interest; (2) the direct use of tax increments; (3) the borrowing of available funds, including without limitation interest-bearing City short-term or long-term loans; (4) interfund loans or advances; (5) interfund transfers, both in and out; (6) land sale or lease proceeds; (7) levies; (8) grants from any public or private source; (9) developer payments; (10) loan repayments or other advances originally made with tax increments as permitted by Minnesota Statutes; and (11) any other revenue source derived from the City's or Authority's activities within the Project Area as required to finance the costs as set forth in Exhibit I-C. All revenues are available for tax increment eligible expenses within the Project Area as allowed by Minnesota Statutes. Subsection 23.12. Estimated Original and Captured Tax Capacities. The tax capacity of all taxable property in the TIF District, as most recently certified by the Commissioner of Revenue of the State of Minnesota on January 2, 2012, is estimated to be $22,965. The captured tax capacity of the TIF District upon completion of the proposed improvements on January 2, 2017 is estimated to be $126,885. The Authority intends to utilize 100% of the captured tax capacity for the duration of the TIF District for purposes of determining tax increment revenues. Subsection 23.13. Tax Increment. Annual tax increment generated from the TIF District has been calculated at approximately $168,110 upon the initial completion of the improvements. This estimate is provided on the attached Exhibit )0(1I-C. Revenue has also been projected for the duration of the TIF District and is shown on Exhibit I-C- 16. 23-2 Subsection 23.14. Local Tax Rate. The estimated pay 2012 local tax rate is 1.3249. Subsection 23.15. Type of TIF District. The TIF District is a redevelopment district pursuant to Minnesota Statutes, Section 469.174, Subdivision 10. Subsection 23.16. Duration of TIF District and Deferral of Tax Increment. The duration of the TIF District is expected to be twenty five (25) years from receipt of the first tax increment. The date of receipt of the first tax increment is deferred until 2017. Thus, it is estimated that the TIF District, including any modifications for subsequent phases or other changes, would terminate in the year 2042. Subsection 23.17. Estimated Impact on Other Taxing Jurisdictions. The estimated impact on other taxing jurisdictions assumes construction would have occurred without the creation of the TIF District. If the construction is a result of tax increment financing, the impact is $0 to other entities. Notwithstanding the fact that the fiscal impact on the other taxing jurisdictions is $0 due to the fact that the financing would not have occurred without the assistance of the Authority, the attached Exhibit XXII-E reflects (I) the estimated impact of the TIF District if the "but for" test was not met; (ii) the estimated amount of tax increment generated annually and over the duration of the TIF District; and, (iii) the estimated amount of tax increment attributable to the County, School District and other taxing districts. At this time the Authority anticipates there will be no impact on City services due to the creation of the TIF District. Additionally, since the City has no current plan to issue general obligation debt for project costs, it further anticipates that there will be no impact on its borrowing costs due to the creation of the TIF District. Please refer to Exhibit XXII-D for the narrative "but for" analysis. Subsection 23.18. Modification of the TIF District and/or the TIF Plan. As of October 8, 2012, no modifications to the TIF District or the TIF Plan have been made, said date being the date of initial approval and adoption thereof by the City Council. 23-3 EXHIBIT XXIII—A PARCELS TO BE INCLUDED IN THE TAX INCREMENT FINANCING DISTRICT NO. 21 14-30-24-34-0007 14-30-24-34-0008 14-30-24-34-0010 23-30-24-21-0135 23-30-24-21-0112 23-30-24-21-0111 23-30-24-21-0110 23-30-24-21-0109 23-30-24-21-0134 23-30-24-21-0143 23-30-24-21-0141 23-30-24-21-0140 23-30-24-21-0123 23-30-24-21-0122 23-30-24-24-0016 23-30-24-24-0130 23-30-24-24-0023 23-30-24-24-0022 and all easements, rights-of-way and adjacent roads and streets XXI I I-A-1 • EXHIBIT XXIII- B r-..s., Map of Tax Increment Financing District No. 21 'i 444 aI 1 TIDY i L Y l �Iior� et Pajet Arsa an ( :,rr, �v f �� T I cre � nt F nand g Il�striets A Kni A tit Nei 4.?h� i .� 'FZ+. ,3..� q� ( a �r 'a H7t 1.7.7., C. �€ al 4 -g i �*�_ t ,- Ott( —.,a cxea— --k'- sue, y —1 z • 2M ir„ :4:21 , ,.�, jjj '-.� ri d 4 mo'"'"d 44 (t tt-.1t:+ii ,... ._ ..1 * `1..1....tagigrAlk ki2:4_,Liril:r71-1.17.p., -1 izei,'tilill;,,, Al''''--'i:-. .,...„ 77;[. ''.44—',I-11'=-1., 'i t1/751.•°' it'117.1 ki-1.;;;;:2 ;,21-4.411x4iF.i.k46.- '4 +fa if-,.1!.:VA'i#!,1 j i :fp ;::'" .7,,,: 34,,,,I4 7;;;::::j::::::Alt"*"-- :.:::' f..«.«...1'-*Icifi **A-,t i'''''' lif I og — # mot _ _ „i l .x P f . LEGEND 1{ . .. Existing CIF Districts. k g r: del�sp �erst Pryer bras im �_.. ( r ich ineren rtt ay i spit li Peed 7 F©i ti ct X24 Azar, ., i F It (�.... ' i_... Ili • ■ XXIII-B-1 EXHIBIT XXIII-C „."".,„, Exhihit XXIII-C Gateway Northeast(TIF X121) ASSUMPTIONS eminimmnimmimi ME= Area of Parcel 2012 EMT 1 Pay 2013 Original Market.Values Proposed Use (Acres) (Sq.Feet) Land Building Total; MINI_ A North of 61st(Citgo Station) Commercial 0.6 24.304 1330.100 01.100 =1,200 8 South of 51st;North of Fran ..•-Rd Sinclair Commercial a4 15.610 113.400 0 113,400 C South of Frontage Rd to north of Vet Clinic Renter 3.3 147,301 e-ie,£+00 2.130 840.000 0 Vet Clinic to 56th Ave north of townhome dee Caner Co pied 2.0 34.004 303.400 172,570 555.000 _E_ _Totals TOTAL 5.2 272.310 51.-53.800 520 800 S 1,740,500 0 0 5..45 per sc.ft. 0 MUM Rata . ` Original',Tax Capacity ararrrerciatf Retet 1£,..1% 33 24.500 as IOC = 5,502 Rental _ 48.5% 340.30 1.25%= 13.613 C rsr Occupied 32 4% 5555.000 A_ 1.O0%= 5.550 _■_ 100.0% 1,740.500 _NM YEAR Phase 1 52.108.700 Estimated Market V:a:Le'' Bolt-2013 0 urns Estirrat d Tax Capa ty 2014 4,500 sq.ft. 31.047 55.4307 El l'rnati'd DEFERRED t t,a00 MINIM Phase 2(combined) 5-Hs5.00L1 Estimated Tax Capacity 2015 0. sq.f. 30.5711 12.1.457 DEFERRED 75,32s Phase 3(combined) 10;8�i5 r� Estimated Market Value` Built-2015 115 rants Estimated Tax C,apacy 2016 0,000 sq.ft 138,650 Estimated Taxes 2017 2 19.521 Estimated Tax Increment 1ST YEAR OF T.l. 153.2 MUM 1111 , Phase 4 combeted) ■ • 11.£ 5.000 6.0 tmes a:r.in13s Estimated Tax Capacity 2017 0.0 } sq.ft. 14€.950 Estimated Taxes Estimated 71.3%of teal taxes MEM stimated Tax Increment Local Tax Rate- Pay 2012 &00 014 1 32400 " State Tax Rate- C 11100 (Cll on � Eff.Incr.on local tax rate for taxes at F.D.rate a 0=+427 Combined Tax Rate-CII Property Only 1.37017 used for tax anorernent caloutalions = -U- - Estin�ateO Market Value for Owner Occupied housing not reduced for Homestead Exclusion. Market Value Referendum Taxes 3.2075M Adman tat Auditor� 01. 30%State Auditor Fee 0 4 ; Inflation ■ after 2 of full tialue), 5.30% Present Value Rate - .71120 12 4.00% -U- r Fiscal Dis•.:sties Metro Wide Tax Rate 045 P 2312 Fiscal Disparities Ratio 36.2441%Pay 201' /'N XXIII-C-1 .,,,..-,.,, Exhibit)0011-C Gateway Northeast(TIF#21) ASSUMPTIONS Area of Parcel 2012 EMV.t Pay 2013 Original Maricet Values PIN# Owner/Prior Use (Acres) (Sq.Feet) Land Building Total I I I I V A-North of 61st(COMMERCIAL) I 6101 University Avenue NE 14-30-24-34-0010 Citoo 0.4 17,424 119,300 91,100 210,400 2 x'14-30-24-34-000 Citoo 0.1 3,485 5500 5,500 l 3 14-30-24-34-0007 Citgo 0.1 3,485 5.300 5,300 Subtotal 0.6 24,394 130,100 91,100 221,200{ B-South of 61st:North of Frontage Rd(COMMERCIAL) 4 6071 University Avenue NE 23-30-24-21-0135 Sinclair Station 0.4 15,610 113,400 113,400 I Subtotal 0.4 15,610 113,400 0 113.400 C-South of Frontage Rd to north of Vet Clinic(RENTAL) 5 6061 University Avenue NE 23-30-24-21-0111 Tai-kwan-Do 0.3 11.081 80,000 80,000 6 University Avenue NE 23-30-24-21-0110 0.1 2,761 20,200 20,200 7 6041 University Avenue NE 2330-24-21-0105 Van-O-Lite 0.4 19,334 1.24,600 124,600 t 8 6005 University Avenue NE 23-30-24-21-0134 Carquest(M&1 Auto Suppl 0.5 22.091 142,400 142,400 "--,q 9 50th Ave intersection 0 0 ID 594.E Uriversitv Avenue NE 23-30-24-21-0143 0.6 24.526 182,400 132,400 11 University Avenue NE '23.30.21-21-0141 empty 0-2 8.146 32600 2.100 34,700`' 5925 University Avenue NE 23-30-24-21-0140 ' 0.9 37,780 152,300 152300 13 5905 Univ - Avenue NE 23-30-24-21-0123 0.2 10.802 55200 56.200 14 5905 UnPv�' Avenue NE 23-30-24-21-0122 0.1 4,05 21,100 21,100 15 5905 University Avenue NE 23-30-24-24-0016 0.2 6.750 35,100 35,100 Subtotal 3.3 147.391 846,900 2,100 149,000;.. D-Vet Clinic to 58th Ave(north oftownhotr dev)(OWNER OCCUPIED) 16 5895 University Avenue NE 23-30-24-24-0130 Vet Clinic 0.8 33,541 155.500 177 600 328.100 Y 17 5665 University Avenue NE 23-30-24-24-0023 0.4 16,126 84,000 844,000 18 5831 University Avenue NE 2330-24-24-0022 0.8 35.327 153,900 153,900 Subtotal 2.0 84,994 393,400 172,600 566,000 Totals TOTAL 6.2 272.389 31,483,800 5265, 3 $ 1,749,600 0 0 o.45 per sq.t. 0 XXI I I-C-2 • , Exhibit XXIII-C , .... ._ Gateway Northeast(TIF#21} ASSUMPTIONS -4' c 1 11 c i I I c 1 1 11 I 1 PHASES 1-4 Total Estimated Market Value S115.010. C;enrrreretal iFfetaff 1!,125,000 Corninerea: Site A 0it p 4,502 sq.3 4 128 rsYq.It = 552,500 Co rimerc4-Ske 3 13 dael 4,520 sq.ft e:25 rso ft = 552,500 s.:ce l Retail 0 sq.it :25 ?sq:.ft= 0 ^:eta.-serves 0 sea.ft* - (K.ft.= 0 Restaurant'emerta *rent _ sq.ft* 125 fsq,.`:.= 0 Other 0 so.ft,,;x 125 ;era;?.= 0. Rtl 7,500,000 Market Rate-Bldg 1 100,0x% 82 units* 75,000 &inn- 3.750,000 Market Rate-Bldg 2 100 0% 52 -units.iM 75,000 :snit= 3.a 50,000 Owner COcomoted 3,550,000 Srcee Famt'y Homes 00%. 0 ixtits itti 200,000 runt= 0 Tc times-Year'= 100.0% 8 u'tits f..g 140,000 a1= 1,120,000 Ta+rx xmes-Year 2 100.0% 8 uniits 168 140,000 itritt= 1,120,000 Tow ornes-Year 3 100 0% S units 4 140,000 , runt= 1,120,000 124 units 0,020 sq.1t, Total Estimated.Tax Capacity 149,852 Commera7al.JRetaii 22,500 Ccrrenerc_i-Site A 6Citgol 2.00% 11,250 Commercial-Site B lSy ak 2.00% 11,250 Officer Retail 2.00a 0 Reta -service 2.00% 0 Restaurant I entertanent 2.00% 0 Other 2.00% 0 Rental 83.750 t. Market Rate-Bldg 1 1.25% 46,875 Market Rate-Bldg 2 1.25% 46,875. Owner Ot oupieed 33,2-00 Si Famky Horses 0 '.= eco,coo 1.00% 0 :> 500, 3 1.25% 0 Town nes-'Year t 11200' 4:_ 500,003 1.00% 11.200 �.,...\ > 500,2 03 1.25% 0, Te.mie ses-Year 11,200 5{30,)7 1.00% 11,200 i 500,0200 1.25% 0 Townhornes-Year 3 11,200 5002200 1.00% 11,200 500,070 1,25%% 0 Total Estimated:Taxes 2355.584 CrAmmerciatiRemff 44,414 Corr nerr^ar-Site A ICitg$ 4,520 sq.It 4.93 Isq..5.= 22,207 Ccrrrvrierc •'Ste B 1 lair 4,53E seq.ft rtT 4.93 tsq,ft.= 22207 Clf.eze1 Retail 0 sq.it 4 0.00 /sq;ft= 0 RetRA-service 0 sq.ft,A 0.00 }s4.ft.= 0 Restaurant entertatirnent 0 sq.ft? 0.00 lsq.ft= 0 CYher 0 sea.it £1.00 tsq ft = 0 Rer`ta! 130,770 Marken Rate-Bldg 1 82 -units t t 1,38 runt= 69,32 Market Rate-Bldg 2 52 units 3S 1,398 lt= 69,880 C tixT*r Occupied 51,402 Si fie Famsx Homes 0 amts 0 AMA= 0 Tcav ernes-Year 3 . :min 2,145 rixtt= 17,164 Tcrr noanes:-Year 2 8 units. , 2,145 }M.4= 17,184 Tossrtho es-Year 3 3 -..its a 2,145 runt= 17,164 Ccnnst ucttiur 20 t5 100,02% Full Valuation 017 Taxes Rav e.' XXI I I-C-3 Exhibit XXIII-C 764:4 Gateway i`oortheast;TlF X21) CASH FLOW AND PRESENT VALUE WALYSIS r1 ,gu a - .`.'.E16'- a1'301.4L _ zai 15', lc) dl ;el i1;) t9? 3111 111 5) , ina Estrsated Caxtu ed ' Est T.I. Lass;.. .:,va-;abie CY rida ve ..-Present Value--> Tax Tax Tax id)x Admin Tax Aval,Tax Serri Arm Cumulative Date Capacity C * Caz4mit,1 1.3249 Fees I kent Irexameit Balamm Baance se+e assurs ns1 1;81i-;b'a -St Aud.Fs.: i.e.)x (a)-if Total of({li P.V.cf ill) Tott of 61, 5.0%(station ;Frey.ye rl 0.000% 10.00% 4.00%122101412 .arr171='12 U 0 0 a 0 1:,S101112 0 U 0 0 3 ::801113 DEFERRED 0 0 0 s 0 12/01113 DEFERRED 0 0 3 0 0:: 7331714 DEFERRED 0 0 0 0 0 1101/14 DEFERRED 0 0 .. 0 0 x`01;15 DEFERRED 0 0 0 0 0: 12171/15 DEFERRED 0 0 0 0 0 ; 131/'16 222,965 13.9.653 DEFERRED 0 0 0 0 3 12011/18 22,955 139550 DEFERRED 0 0 3 0 0 2601717 22,965 149,350 115,895 76,535 7,554 69272 66,972 57,713 57,713: 1231717 :.'2,$55 14,...8.5c1 1 191_9d .5,6', x`64 59i!i2 137,455 3681 114,204 601118 22,9651 142850 126,285 84.055:. 3406 76.650 213,594 60,242 '78,137 201118 22,955 142560 126,8.5 24,055 G,425 75,8:,0 289,44 69,64E 234,7E6 3 ; 31119 12,085 157.343 128,295 34,055 9406 76650 354,824 58483 03;266:' 1201112 22,965 157,243 125,88: 24,05* 84+6 r5.550 +240,644 5,•,:..3.3 „K-3,622 i 4 C610 1C20 22,965 155,210 134,371 22,019 222 313,117 520,8€12 52,523 410,127 12.31120 22,065 1€6210 134.378; 22012 a'K2 53,117 800.777 €8281 468.487 5 0610121 22,985 173,470 142,245 94,233 '0423 84,807 685,5E5 80,585 529.0554 1210112/ 22, 173.470 142,245 94.233 2423 94.957 770,392 59.372 588,432 5 05!01.122 22,965 1;32..144 150,536 99,702 0270 82.732 360,124 81,505 550,1227 1201:22 22.265 132.144 150505 92,702 91070 82732 049.1555 60,387 7110,414 7 250123 22,985 191251 152,179 105,448; 12,545, 94:933 1,044,753 62,615 779M9 231723 22,965 191251 152,179 705.44E 1 545 94,FM 1,139,553 61.381 £35.,4'!8: 4 38/01/24 22,965 205.,313 188,255 111,481 11,148 102333 1.233,996 83,677 8'28,043 "2101124 22,9•5 231813 168.28'S 111.481 11.148 103,333 1,243.K2 62,279 080423 C631.25 22,E 212254 17,249 1117,315 11171 105024 1,445,3€4 014,831 1.325,054 12131725 22,9 210.3524 1777,242 117,315 11,782 135334 1_,3193 63 364 1288 418 10 08101126 22,965 221,397 187,889 124,467 13,447 112,021 1,654,41E 65,620 1,154,045 12011'28 22,965 221,39 187,282 124,467 12.447 112.3221 1,775,420 114.242 1218,328 • 2,1 :X31733 22,465 2214c7 ts,4a.z ;2,1,401 13145 118,320 1,824,1'45 66,523 1,288,009 1617171 22,985 232,457 191,432 131,451 13,145 1193008 2,013,0552 65,313 1250,321 ■••"''". 12 83-1118 22,205 '21.44,020 2102132 128.;86 19313 124,903 3,13e,9:3 61.1 1,41;.026 1131,28 22,965 244.020 239,502 138,7E5 13.578 124.€88 2,282,964 66,272 5,434,206 • 13, 01729 22.7,965 256224 221,125 145,48.4 14.548 131,838 2.324,7,uu 63. 95 1. 2,791 12131./29 22,965 258224 221,125 €46,484 14. 48 131,836 2,525,529 67,240 1520,031 14 1'601/30 22,9tf8!5 2,100 2'33.3.i 154.9 15;457 132.112 2,555,649 89!,5613 1;889,591 123isa =1,21.5 I 2&�?k:102 233,395 154,559 15,457 132:1112 2,804,751 68..108 1,757,787 7,787 '15 28/01131 22,965 287..585x,: 246,145 163,058 15.336 146753 2,051.514 70,531 1.828,318 1131131 22,255 262..585 245,145 163,053 15,336 145,753 3,093,2€8 52,148 1807,4515 18 2613113•• 22,965 281 '3 259.02 171972 17.1:7 154.515 3_.253.041 71,493 '.?53.964 1 1231132 222,935 295,.E 252,503 171,272 17197 154.7775 3,437,315 70,025 2039,0611€; 17 C26O1733 22.955 311,527 273,721 1E1.331 13123. 16312 3.5771.014 72,452. 2,111,52 '! 1.2,31133 12,255 311,527 273,728 121,331 19133 133 163.19 8 3,734212 71,041 1182,562 13 31/34 222,965 327,,124 238.563 121.153 12118 172.043 3,906,255. 73,422 2,258985 J '271011.24 22,085 327.134 28e,5563 191,15E 1211116 172,,043 4,078,22E 71,983 2227,967` 19 2601715 22,465 241450 304,139 201.477 200 148 181.327 4.252,527 74,381 2402.248. 12131735 22,9625 3494E2 304,132 201,477 23,148 181,3 e 4,443,256 729222 2,476270 r, 2 063-1/36 22,015 350822 3220,494 212,312 21331 1931,010 4,1852,037 75,337 2550,1:07' 12101736 22,E 355,832 320,494 212,312 21211 101,030 4,823,117 73,853 2.824_.,5+ 21 28131/37 22,965 379553 337,667 223,9 23,359, 201,31,2 6,024,435 78,222 2,700,759.. 123113. 22,565 319:63 331,557 223,881 22.352 201,312' 6225,15 74,957 2176,654 3 C63113.3 22,E .97597 3-55,521 236633 21553 212,3170 5,437,225 77,341 2,3553,792 12101381 12,865 397897 :966,59i, 2331, 33 23,663 21. 070 5,649,394 ,;?73'3 d,520 23 MD 1f32 22,965 417,476 374,632 248,175 :'4313 223,am 5,273,252 73,127 3,05,727 2AJ 1/39 22.E 417,4767 174.632 248,176 2412 223356 5,098.63 `6,884 3,383,391 , 24 060140 22,965 438,350 394,512 281,344 26.124 235210 6,331,312 72,149 3.162,540 t 21101/43 22,965 4313350 294,512 251.244 25114 235,210 657.322 77,597 3,2:40,137' 25 0601141 222,965 483223 415,886 275,172 27817 247,3E5 6,814,684 82101 3,120,238 12101,41 222,965 4 2.22663 415,338 275,172 27,5,17 247.55 7.062,332 78.5' 2328,768 25 6131/42 22965 4E3,231 437,3333 222,5992 2E252 262722 7,222,352 81,0.E 2479221 120142 22,265 4332E1 437,303 282.622 23060 262.722 7,583.7E4 79464 3550:235 a 7 1 559 8 7 65!2q ' _...2-,�'�,42^1 Ei42:4, :E ,7E14 x53.7-E4 3,_,�,.�._ �_�d,�„5 • XXI I I-C-4 �-..� EXHIBIT XXIII—D "BUT FOR" ANALYSIS The Site is approximately 6.4 acres and fronts University Avenue from 58th Avenue to just north of 61st Avenue. After World War II the site was originally developed for commercial uses, restaurants and gas stations. However, with changing demographics, limited access as a result of upgrading University Avenue, changing formats for gas stations and a decline in retail use, the area fell into despair and a number of the buildings became blighted and had minimal use and substantial vacancies. The City and the Authority have wished to redevelop this site for a number of years and the Authority has been voluntarily purchasing parcels over the last five years to facilitate the goals of redevelopment. Prior to any demolition, Resolutions were adopted determining that certain parcels are occupied by structurally substandard buildings and were to be included in a tax increment financing district. The Resolutions and blight findings are on file with the City. The Site is also in an area in which transit orientated development is being promoted. On 57th and University Avenue there is an express bus route to downtown Minneapolis. In addition a station for the Northstar Commuter Rail line is nearby and the City is working to make the entire area more pedestrian friendly. To acquire and prepare the site for reuse, the HRA will have spent over $4.5 M. The Site has a value, depending on its reuse, between $1.0 M and $2.0 M. It is this difference of $2.5 M to $3.5 M that will be paid from the tax increment financing district. But for the availability of tax increment to pay for acquisition, demolition, relocation, environmental remediation, infrastructure and site preparation this project would not proceed. i-v XXI I I-D-1 EXHIBIT )0(111 - E ESTIMATED IMPACT OF TAX INCREMENT FINANCING DISTRICT NO. 21 IMPACT ON TAX BASE ORIGINAL ESTIMATED CAPTURED DISTRICT TAX TAX TAX TAX AS% ENTITY BASE CAPACITY CAPACITY CAPACITY OF TOTAL City of Fridley 28^806.541 22.965 149.850 120.885 0.440% County ofAnoka 277.231.803 22,965 140.858 126,885 0.046% 1SD#14 12'504.293 22.965 140.850 120.885 1.015% IMPACT ON TAX RATE TAX %()F TAX TAX RATE ENTITY RATE TOTAL INCREMENT INCREASE City ofFridley 0.30815 2890% 50,265 0.175% County oYAnoka 0.41146 3106% 52.208 0.01096 LSD#14 0.43862 33.11% 55,654 0.45096 Other 0.87867 5.949v 9.982 1:32490 10000% 188.110 Assumes construction would have occurred without the creation of a Tax Increment Financing District. If construction is a result of Tax Increment Financing, the impact s$0. • EXHIBIT I-C 11F#21 Cumulative Modified TIF Plan Budget ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district), Tax increment revenues distributed from the county S 8,500,000 interest and investment earnings 85,000 Salesllease proceeds 1,000,000 Market value homestead credit Total Estimated Tax Increment Revenues $ 9585,000 ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment) Project Costs Land/building acquisition 5 4,235,000 Site improvementstprepiaration costs 500,000 LJtililles Other qualifying improvements Construction of affordable housing Small city authorized costs, it not already included above Administrative costs )09c 850,000 Estimated Tax Increment Project Costs 5 5,585,000 Estimated Financing Costs Interest e6zeip rtLifib 4,000,000 Total Estimated ProjecVFinancing Costs to be Paid From TI 5 9,585,000 0 ESTIMATED FINANCING Total amount of bonds to be issued 4,500,000 TIF Budget-21 I-C-16 MMB:4832-3105-1280,v. 1 • HRA RESOLUTION NO. A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 1 AND THE TAX CREMENT FINANCING PLAN FOR TAX INCREMENT FINANCI G DISTRICTS NOS. 6-7, 9, 11-13 ND 16-20 TO REFLECT INCR SED PROJECT COSTS AND IN EASED BONDING AUT ORITY WITHIN REDEVELOPMENT PROJECT NO. 1, CREATIN TAX INCREMENT FINANCING DISTRICT O. 21 AND ADOPTIN A TAX INCREMENT FINANCING PLAN RELA ING THERETO. BE IT RESOLVED by the B\csard of Commissi ners (the "Commissioners") of the Housing and Redevelopment Authority in and for he City of Fridley, Minnesota (the "Authority"), as follows: Section 1. Recitals. \ / 1.01. It has been proposed that the/Authority approve and adopt the proposed modifications to its Redevelopment Plan f ' Redevelopment Project No. 1 (the "Project Area") reflecting increased project costs a�fd increased bonding authority, pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive, as amended and supplemented from time yo time.\, 1.02. It has been further proposed that\the Authority approve and adopt the r" proposed modifications to the Tax Ancrement Financing Plans (the "Existing Plans") for Tax Increment Financing Districts;l'los. 6-7, 9, 11- and 16-20 (the "Existing Districts") reflecting increased project costs/and increased bon.'ng authority within the Project Area, pursuant to Minnesota Statutes, Section 469.174 through 469.1799, inclusive, as amended and supplemented from time to time. 1.03. It has been further proposed that the Aut ority approve the creation of proposed Tax Increment Financing District No. 21 (the ' 'roposed District") within the Project Area and approve' and adopt the proposed Tax Increment Financing Plan (the "Proposed Plan") relatin hereto, pursuant to and in accordan e with Minnesota Statutes, Sections 469.174 to 4 .1799, inclusive, as amended and s •plemented from time to time. 1.04. The A hority has investigated the facts and has caus:• to be prepared with respect thereto, modified Redevelopment Plan for the Project Area and modified Existing Plans for the Existing Districts reflecting increased project costs and increased bonding authority within the Project Area and the Proposed Plan for the Proposed District, defining more precisely the property to be included the public costs to be incurred, and other matters relating thereto. 1.05. The Authority has performed all actions required by law to be performed prior to the approval and adoption of the modifications to the Redevelopment Plan and HRA Resolution No. • �---� Existing Plans and the approval and adoption of the Proposed Plan. 1.06. The Authority hereby determines that it is necessary and in the best interests of the City and the Authority at this time to approve and adopt the modifications to the Redevelopment Plan and Existing Plans, to create the Proposed District and to approve and adopt the Proposed Plan relating thereto. Section 2. Findings. 2.01. The Authority hereby finds, determines and declares that the assistance to be provided through the adoption and implementation of the modified Redevelopment Plan, modified Plans and Proposed Plan (collectively, the "Plans") is necessary to assure the development and redevelopment of the Project Area. 2.02. The Authority hereby finds, determines and declares that the Plans conform to the general plan for the development and redevelopment of the City as a whole in that they are consistent with the City's comprehensive plan. 2.03. The Authority finds, determines and declares that the Plans afford maximum opportunity consistent with the sound needs of the City as a whole for the development and redevelopment of the Project Area by private enterprise and it is contemplated that the development and redevelopment thereof will be carried out pursuant to redevelopment contracts with private developers. Section 3. Approvals and Adoptions. 3.01. The modifications to the Redevelopment Plan reflecting increased project costs and increased bonding authority within the Project Area are hereby approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. 3.02. The modifications to the Existing Plans reflecting increased project costs and increased bonding authority within the Project Area are hereby approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. 3.03. The creation of the Proposed District within the Project Area and the adoption of the Proposed Plan relating thereto are hereby approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. 2 HRA Resolution No. Section 4. Filing of Plans. 4.01. Upon approval and adoption of the Plans, the Authority shall cause said Plans to be filed with the Minnesota Department of Revenue, the Office of the State Auditor and Anoka County. PASSED AND ADOPTED BY HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY THIS 4th DAY OF OCTOBER, 2012. LAWRENCE R. COMMERS - CHAIRPERSON ATTEST: WILLIAM W. BURNS - EXECUTIVE DIRECTOR CERTIFICATION I, William W. Burns, Executive Director of the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota, hereby certify that the foregoing is a true and correct copy of Resolution No. adopted by the Authority on the 4th day of October, 2012. WILLIAM W. BURNS - EXECUTIVE DIRECTOR MMB:4852-4671-0289,v. 1 /■; 3 ACTION ITEM HRA MEETING OF OCTOBER 4, 2012 CRY OF FRIDLEY Date: September 26, 2012 �q� To: William Burns, City Manager 4•�' From: Paul Bolin, Asst. Executive HRA Director Subject: Resolution to Modify Interfund Loan - TIF District#21 In 2009, the Authority approved an Interfund loan in the amount of $4,300,000 to pay for TIF eligible expenses in Gateway Northeast. In preparation for the creation of the TIF District, staff compiled and reviewed all expenses for the proposed project area. This review identified an additional $31,631.73 of TIF eligible expenses. Staff is recommending that the attached resolution be adopted, increasing the loan amount to $4,735,000,with an interest rate of 4% and extending the term of the loan to run with the TIF District. The new loan amount takes into account the additional costs previously incurred and the potential of acquiring 1 more building in the project area. Recommendation: In order to recover the Authority's investment, Staff recommends the Authority adopt the attached resolution, modifying the Interfund loan between the HRA General Fund and HRA Fund #474 - TIF District#21. This modification allows the Authority to capture costs, both incurred and expected to be incurred, in TIF District#21. HRA RESOLUTION NO. RESOLTUION APPROVING MODIFICATIONS TO THE INTERFUND LOAN BETWEEN THE HRA GENERAL FUND AND HRA FUND 474 TAX INCREMENT FINANCING DISTRICT NO. 21 (GATEWAY NORTHEAST) BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of Housing and Redevelopment Authority in and for the City of Fridley, Minnesota (the "Authority") as follows: Section 1. Recitals. 1.01 The Authority has previously authorized an Interfund Loan (the "Interfund Loan") (HRA Resolution No. 2009-08) in an amount of $4,300,000 to pay for tax increment eligible costs (the "Qualified Costs") in the area known as Gateway Northeast. 1.02 The Authority is authorized by Minnesota Statutes Section 469.174, subdivision 3 and Section 469.178, subdivision 7 to approve by resolution any interfund loans that are to be repaid with tax increment from any of the Authority's tax increment financing districts. 1.03 As of October 4, 2012, the Authority has approved a Tax Increment Financing Plan for Tax Increment Financing District No. 21 (Gateway Northeast TIF District). 1.04 Eligible costs as of October 4, 2012 are $4,331,631.73. Section 2. Findings. 2.01 The Authority hereby finds it necessary to reaffirm and modify the Interfund Loan (the "Modified Interfund Loan) between its general fund and the fund 474 TIF District No. 21 (Gateway Northeast). The Modified Interfund Loan is for the express purpose of providing financing for Qualified Costs already incurred and to be incurred until such time that enough tax increment is generated in TIF District No. 21 as needed to pay back the Modified Interfund Loan. Section 3. Adoption of Modified Interfund Loan. 3.01 The following are the terms of the Modified Interfund Loan: Loan Amount: $4,735,000 Interest Rate: 4.0% Interest Commences January 1, 2013 Length of Loan: December 31, 2042 3.02 The Authority will repay the interfund loan solely from tax increment generated by TIF District No. 21 after withholding allowable Authority administrative expenses. 1 • .---� Repayments shall occur on December 31st of each year in which the Authority receives tax increment and payments shall first be applied to interest and the balance to the reduction of principal. PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 4TH DAY OF OCTOBER, 2012. LAWRENCE R. COMMERS, CHAIRPERSON ATTEST: WILLIAM W. BURNS, EXECUTIVE DIRECTOR M M B:4819-5051-2401,v. 1 Cif P\ 2 w Z J a lL 1 1 S)1 r .---.---------.1 to • . ■ ( RETAIL RETAIL RETAIL MULTI-FAMILY t''w' LvArxlrot HOUSING i 9 — �v.,�...,���Jr— Q.■ . v asr¢ �4 4�r0 .l a+_Ki 1_ N► r�u�r, w __} laili��_ re � 1 . �. ®.",pit h` i �� It n lit a dYIl �"' r.—— iX rir esiff rnw aL�'ot arrwdll all fin o�� ei p ��iZe, :.irrr. ..m s,,isv�%amo=silvaoism.:.ical411/ _ � ■ BUS TRANSIT 3'� UNIVERSITY AVE.NE EXISTING TOWNHOME DEVELOPMENT I 3RD ST.NE 4 w ' ii .Q ZS ,_ $,_ �, ° /av zuo gDa J liiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii 10-4-2012 Site Plan „2.0077.0 DJ R ARCHITECTURE INC. ( ( (- r INFORMATIONAL ITEM HRA MEETING OF OCTOBER 4, 2012 CI Y OF FRIDLEY Date: September 25, 2012 To: William Burns, City Manager,' From: Paul Bolin, Asst. Executive HRA Director Subject: Scattered Site Housing Replacement Program Update Purchases Staff had a mixed bag in our pursuit to purchase dilapidated homes this past month. Staff had an offer to purchase a home on Main Street rejected,but was successful in purchasing the property located at 587 Ironton Street for$40,000. The Authority also owns the vacant home, 3 doors down, at 561 Ironton Street. Staff expects to tear the dilapidated homes down in late fall/early winter to make the lots available for sale. 4z t4,° yy 561 Area Fridley tv1P $1� S r zw '� YS yY Other Lots/Marketing City Staff has been helpful in keeping our inventory updated on the City's website. The success of Novak-Fleck and Boulder Contracting has generated calls from other builders that are currently scouting our available inventory. In order to keep the momentum going, Staff has initiated a lot split on the vacant properties n located at 5825 2 1./2 Street. By completing a lot split,the Authority will be able to offer 2 60' wide lots in the middle of the Hyde Park neighborhood. These 2 lots should appeal to those that want the convenience of living near the rail station,bus routes, and the Cub Foods retail area,but ,,�,.,� do not want to back up to University Avenue. The lot split will go to the Planning Commission on October 17th, City Council on November 5th and then added to the Authority's for sale inventory on November 6th. n u * ' -- I. 2t:E 6CY L-c*,. , V, �._5, 5 2 i,'2,,t NE. Fridley ik� A!::4., �z # ,. ice Lots under Construction At the time of writing this memoran dum,Novak-Fleck has already lined up a buyer for the home they are building on Mississippi Street. Staff will provide an update, with pictures at next week's meeting. t ,,..,, .,,,, Ak Wif' '.N.tm&.--x.!L' ' '',.7 -',„-,. -, , # emu , �. , - -- V__, 'ita'1 -! — y • HRA Lots For Sale . . Address PIN Size Area Price dl Sq.ft. CI- 03-30-24-32-0106 50x110 ' 5,500 $16,700 Site 1 ,,,,,• 630 Ely Street* . 03-30-24-23-0088 50x110 5,500 $38,610 Site 2 - 521 Fairmont St - Site 3 23-30-24-22-0151 63x129 8,127 $32,940 5961 3rd St. c,,,,gir h Site 4 23-30-24-23-0164 70x108 7,560 $32,940 .gip V 00, “. 281 57th Place Site 5 23-30-24-23-0165 70x108 7,560 $32,940 H de Park Area Fl • ;Tv '' z ,ti a � � ��� 291 57th Place :I r,, � Site 6 23-30-24-23-0160 60x175 10,850 $33,570 ` 5725 3rd St. 23-30-24-23-0161 .'r 23-30-24-23-0159 63x154 9,607 $29,970 , 1.4..4• L , ,0;. �_ , Site 7 w ' 5735 3rd St. 23-30-24-23-0170 ,.. Site 8 23-30-24-23-0158 60x139 8,310 $ale '- ," ' # +l Pending �i mi 5745 3rd St. Site 9 ' 23-30-24-23-0157 60x136 8,160 $26,370 * " It' r _..: `r , .� 5755 3rd St. ,,,, , m 23-30-24-23-0156 75x135 10,125 $32,940 .,a • Site 10 5764 3rd St. hl,A i ti Site 11 23-30-24-23-0154 80x135 10,800 $33,840 , r WI 4 (' 5801 3rd St. 23-30-24-23-0155 Si n '.00, alai./ � i t, *= Home must be engineered to meet FEMA Sitlz,. Flood Proofing Requirements. - I l r A Fridley HRA Housing Program Summary Cover Page October 4, 2012 HRA Meeting Report Description Loan Application Summary Loan application activity (e.g. mailed out, in process, closed loans) for Aug. to Sept. 15th and year-to-date. Loan Origination Report Monthly loan originations 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. H:\—Paul's Documents\HRA\HRA Agenda Items\2012\October 4,2012\Housing Program CoverOctober12.docx Fridley HRA September 15, 2012 Application Summary 08/15-09/15 Year-To-Date New Applications Total Applications Rec'd/ Loans Applications Applications Loans Program Sent Out* in Process Closed Mailed Processed Closed HRA Revolving Loan Fund 8 6 1 21 18 5 HRA- Fridley Last 1 0 0 2 1 1 MHFA Deferred Loan 0 0 0 0 0 0 MHFA Fix-Up Fund 1 0 0 4 0 0 MHFA Community Fix-Up Fund 0 0 0 0 0 0 MHFA Community Fix-Up w/Discount 0 0 0 0 0 0 CEE Home Energy Loan 2 0 0 8 1 1 Private Bank Loan (through CEE) 0 0 0 0 0 0 Xcel OSES 1 1 1 2 2 2 MHFA Rental Rehab Loan Fund 0 0 0 0 0 0 DOC Rental Energy Fund 0 0 0 0 0 0 Totals: 13 7 2 37 22 9 *Number of applications sent out does not take into account property owners downloading their application from the CEE website ) ) y A .---N Fridley HRA 9/15/2012 Loan Originations Programs This Month Previous Month Since 1/1/2012 HRA Loans(incl.CFUF Discount loans) $ 34,754.00 $ - $ 112,547.00 Leveraged Loans $ 4,229.96 $ - $ 11,028.13 Total $ 38,983.96 $ - $ 123,575.13 Funding Sources This Month Previous Month Since 1/1/2012 Fridley HRA inc Revolving&FRIDLAST $ 34,754.00 $ - $ 112,547.00 MHFA FUF/CFUF $ - $ - $ Fridley Discount portion for CFUF $ - $ $ Met Council $ - $ - $ CDBG/HOME $ - $ - $ - CEE Energy $ - $ - $ 5,400.00 Other $ 4,229.96 $ - $ 5,628.13 Total $ 38,983.96 $ - $ 123,575.13 Types of Units Improved' most HH do more than one improvement so the total#will be equal or greater to the number of loans originated This Month Previous Month Since 1/1/2012 �....\ Single Family 1 7 - - Duplex - Tri-Plex 4 to 9 Units 1 2 - 10 to 20 Units - - 20+Units - Total 2 - 9 Types of Improvements Interior #of Projects %of Total Bathroom remodel - 0% Kitchen remodel - 0% General plumbing 1 8% Heating system 2 17% Electrical system 2 17% Basement finish - 0% Insulation - 0% Room addition 1 8% Misc.interior projects 1 8% Foundation - 0% Exterior Siding/Fascia/Soffit - 0% Roofing 2 17% Windows/Doors 2 17% - Garage 0% Driveway/sidewalk 1 8% - Landscaping 0% �� Misc.exterior projects - 0% Total 12 100% Fridley HRA Remodeling Advisor Service - 2012 September 15, 2012 Remodeling Advisor Appointments Appointments Month Scheduled Completed Jan-12 0 0 Feb-12 2 2 Mar-12 1 1 Apr-12 3 3 May-12 3 3 Jun-12 7 7 Jul-12 0 0 Aug-12 2 2 Sep-12 1 1 Oct-12 0 0 Nov-12 0 0 Dec-12 0 0 Total 19 19 *Remodeling Advisor monthly amounts may change as paperwork from a visit may not come in until the next month for the previous month. j y . FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY October 4, 2012 Non-Agenda, Wale 1. Building Permit Monthly Report- September 2012 The report for September was not available at the time of putting together this packet. The September report will be distributed at next week's meeting. 2. JLT Site / Northstar Transit TIF District Staff and the Planning Department met with a group that was interested in purchasing the JLT Site. The group is proposing to construct 2 large office warehouse buildings on the site. The layout of the buildings they were proposing do not meet the City's Zoning Code. The idea this group was proposing would also require the property to be rezoned from Commercial to Industrial. Under a best case scenario for this group,it would be a late spring 2013 start to their construction, providing ample time for the Authority to start up the Northstar Transit TIF District. 3. Columbia Arena Bill Fogerty,property owner, received City Council approval for the SUP and plat needed for his proposed senior housing project on September 10th. Staff still anticipates an application for Tax Increment assistance, but has not heard from Mr. Fogerty for a number of weeks. It will likely be November or December before there is any action required on his request. 4. BAE / RER Update Paul Hyde has retained the firm of MFRA to take on the AUAR environmental review for his project. On September 14th,Mr. Hyde and Staff met with representatives from DEED (MN Department of Employment& Economic Development) and Greater MSP (a non-profit regional development group) to discuss additional grant opportunities for the project. A follow up meeting with the group will take place r on Tuesday October 2nd. 5. Cub Foods Redevelopment Building permits have now been issued for the City Liquor portion of the development. Over the next few months, changes to the building will become much more visible as they finish up the interior and begin working on the exterior of the building. The Non-Agenda Update is simply a means for Staff to provide the Authority information on items that are not regular agenda items. Topics covered include proposed projects still in the idea stage, updates on existing projects, construction updates and other items that may be of interest to the Authority, but not requiring public discussion or action. 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 n• CITY OF FRIDLEY BUILDING INSPECTION MONTHLY REPORT September-12 2012 2011 2012 2011 SEPTEMBER SEPTEMBER Y T-0 Y T.O RESIDENTIAL 77 138 462 785 COMMERCIAL 8 6 73 87 INDUSTRIAL 2 1 2 1 INSTT1UTIONAL 1 0 2 4 MULTI FAMLY DWELLING 1 0 3 5 PUBLIC FACILITY 0 0 4 4 TOWNHOUSE 0 0 1 2 DUPLEX 0 3 0 3 SIGNS 1 4 23 34 WRECKING 1 2 3 13 TOTAL 91 154 573 938 RESIDENTIAL HEATING 17 31 204 215 PLUMBING 20 29 231 219 ELECTRICAL 28 34 269 273 TOTAL 65 94 704 707 COMMERCIAL HEATING 2 9 40 55 PLUMBING 5 6 40 47 ELECTRICAL 9 13 119 151 TOTAL 16 28 199 253 2012 2011 2012 2011 SEPTEMBER ,SEPTEMBER Y;T-D Y T-0 RESIDENTIAL 429,425.00 882,089.00 $3,697,632.65 4,224,778.57 COMMERCIAL 3,341,54200 429,488.00 $16,070,996.00 20,920,635.61 INDUSTRIAL 352,000.00 25,000.00 $352,000.00 25,000.00 IVSTFTUT1ONAL 85,000.00 0.00 $358,780.00 827,200.00 MULTI FAMLY DWELLING 31,683.00 0.00 $75,149.00 27,310.00 PUBLIC FACILITY 0.00 0.00 $549,171.00 286,000.00 TOWNHOUSE 0.00 0.00 $7,500.00 2,922.00 DUPLEX 0.00 9,194.00 $0.00 9,194.00 SIGNS NO VALUE FOR SIGNS OR WRECKING WRECKING NO VALUE FOR SIGNS OR WRECKING TOTAL $4,239,650.00 $1,345,771.00 $21,111,228.65 I $26,323,040.18 COMMERCIAL HEATING 6,949.00 420,096.00 $4,714,087.00 2,825,784.00 PLUMBING 13,803.00 45,535.00 $1,093,090.00 1,112,561.00 SIGN DOUBLE FEE $0.00 0.00 TOTAL $20,752.00 $465,631.00 $5,807,177.00 $3,938,345.00 $2,500.00 2012 wids $13.889.00