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HRA 10/03/2013 October 3,2013 HRA Meeting Regular Meeting Agenda 7:00 p.m. Call to order Roll call Action Items 1. Approval of expenditures 2. Approval of September 5, 2013, Meeting Minutes 3. Approval of 2014 HRA Meeting Dates 4. Approval of Hyde Development's Redevelopment Agreement 5. Approval of Resolution Supporting Grant Application-MN DEED 6. Approval of Resolution Supporting Grant Application-Met Council 7. Approval of Award for Demolition Services- GWNE &HRP Informational Items 1. HRA Fund Balances 2. Housing Loan Program Update Adjournment K:\COMMISSION AGENDAS\HRA Commission\2013 HRA Commission Agendas\13 10 03 hra agenda.docxK:\COMMISSION AGENDAS\HRA Commission\2013 HRA Commission Agendas\13 10 03 hra agenda.docx September,2013 Fridley HRA Accounts Payable Checking Account Register Date Check# Vendor Invoice# Description Code Amount 9/6/2013 Monroe Moxness Berg 140960 Administrative Services-Jim Casserly 475-0000-430-4330 6,347.40 477-0000-430-4330 561.95 100-0000-430-4330 650.00 474-0000-430-4330 2,480.75 10,040.10 9/3/2013 Passau Landcare 6326 Miscellaneous Mowing Various 1,030.00 Mowed week of 8/27 Tax 100-0000-430-4340 70.81 1,100.81 9/10/2013 Sevenich,Butler,Gerlach,&Brazil 30826 Administrative Services-Greg Johnson 475-0000-430-4330 2,306.25 100-0000-430-4330 225.00 2,531.25 9/10/2013 Ehlers TIF Publication&Reports to County 100-0000-430-4330 200.00 200.00 9/16/2013 CenterPoint Energy Electricity-561 Lafayette St NE 501-0000-430-4338 11.31 11.31 9/17/2013 Center for Energy&Environment Revolving Loan-6321 Washington St NE 265-0000-127-0000 34,989.34 Revolving Loan-620 Hugo St NE 265-0000-127-0000 17,462.87 Loan Origination Fee 265-0000-430-4340 1,100.00 53,552.21 9/17/2013 Liesch Asbestos Survey-561 Lafayette Rd 501-0000-430-4330 497.85 Asbestos Survey-5895 University-Animal Hosp 474-0000-430-4330 3,936.45 4,434.30 September Invoices Total 71,869.98 CITY OF FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY COMMISSION September 5,2013 CALL TO ORDER: Chairperson Pro Tem Gabel called the HRA Meeting to order at 7:00 p.m. ROLL CALL: MEMBERS PRESENT: Larry Commers Pat Gabel Stephen Eggert William Holm Gordon Backlund OTHERS PRESENT: Wally Wysopal, City Manager Paul Bolin, HRA Assistant Executive Director Scott Hickok, Community Development Director Darin Nelson, Finance Director Becky Kiernan, Accountant Jim Casserly, Development Consultant ACTION ITEMS: 1. Approval of Expenditures MOTION by Commissioner Holm to approve the expenditures. Seconded by Commissioner Eggert. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MOTION CARRIED UNANIMOUSLY 2. Approval of August 1, 2013 Meeting Minutes MOTION by Commissioner Holm to approve the minutes as presented. Seconded by Commissioner Eggert. Chairperson Pro Tem Gabel noted on page 5, 7th paragraph, second sentence should read "...was and-an agreement between..." UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MINUTES APPROVED AS AMENDED 3. Approval of 2013 Tax Levy for Taxes Payable in 2014 Paul Bolin, HRA Assistant Executive Director, stated this request is to authorize the HRA to tax properties within their community to support housing and redevelopment efforts. The levy is equal to .0185%of taxable market value. The 2014 levy will allow the HRA to collect$380,600. The impact on taxpayers will be $24.98 on a home valued at$135,000 and $185.00 on a$1 million commercial property. Staff recommends approval of the resolution consenting to the HRA Tax HRA Meeting of September 5, 2013 2 Levy. This provides the HRA the ability to fund ongoing and future redevelopment efforts and the ability to meet housing needs. City Council will act on this item 9/9/13 and the levy will be certified and delivered to County by 9/13/13. Commissioner Eggert asked if this rate has deviated at all in the past. Mr. Bolin replied that the .0185 rate has not changed in the past 8 years. Commissioner Holm stated that this ongoing levy has been in effect for a number of years. The $24.98 amount impacts the homeowner and will probably not reflect an increase over the previous year because the home values have gone down. MOTION by Commissioner Backlund to Approve the 2013 Tax Levy for Taxes Payable in 2014. Seconded by Commissioner Eggert. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MOTION CARRIED UNANIMOUSLY 4. Approval of Home and Garden Show Administrative Contract Paul Bolin, HRA Assistant Executive Director, said that Fridley has been the fiscal agent for the Home & Garden Show for 16 years. (Blaine &Mounds View partner with us on the show) Revenues from booth rental cover the expenses for show. Since 2005, the Home& Garden Show has contracted with Marsha Wagner from Castle Visions to perform administrative tasks. Staff recommends approval of the contract authorizing Castle Visions to perform the administrative work for 2014 Home& Garden Show. Commissioner Holm said that this is a reasonable rate and they have been effective in the past. MOTION by Commissioner Holm to Approve the Home and Garden Show Administrative Contract. Seconded by Commissioner Backlund. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MOTION CARRIED UNANIMOUSLY 5. Approval of Master Plan Amendment—Fairview Clinic (6341 University Avenue) Paul Bolin, HRA Assistant Executive Director, stated that in S-2 (Redevelopment)Zoned Districts, a Master Plan Amendment needs to be reviewed and approved by the Planning Commission, HRA and City Council. The Planning Commission approved this on August 21St and City Council is scheduled to approve on September 9th This addition meets the setback and lot coverage requirements. City code requires 150 parking stalls and the clinic will provide 235 parking stalls. City engineering and fire department staff have reviewed and approved the site plan and new driveway. Staff recommends the Authority approve a motion approving Fairview's Master Plan Amendment. Chairperson Commers asked if this would affect the ownership part of the parking lot. HRA Meeting of September 5, 2013 3 Mr. Bolin replied no; everything they are doing is well outside of that area. MOTION by Commissioner Gabel to approve the Master Plan Amendment—Fridley Clinic (6341 University Avenue). Seconded by Commissioner Backlund. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY 6. Approval of Letter of Understanding—Trident Development (GWNE) Paul Bolin,HRA Assistant Executive Director, stated that this Letter of Understanding provides a means for the Authority to retain control of the property. It provides assurance to Trident that the property will be sold to them if the project is agreeable to the HRA and the City approves the land use items. The HRA will be cooperative and negotiate only with Trident. By February 2014 the following will be completed: Environmental review Determination of new roads Market analysis update Title work Determine public amenities Financing plan Analyze fencing costs Obtain Site Plan approval from City February/March 2014: Negotiate redevelopment contract Timing of plat approvals Phasing/timing issues Type/quality of product Purchase price Timing/payment of broker fees April/May 2014: Close on parcel(s)/start construction Mr. Bolin said that Staff Recommends that the Authority approve the Letter of Understanding, allowing Staff and Trident Development to work towards redeveloping the GWNE properties. Commissioner Eggert stated that this Letter of Understanding reads more like an Option Agreement and thought the language was kind of vague. The Authority has been holding this property and he was concerned there is no drop dead date or a lot of specifics. This locks up the land to anyone else and he was concerned in February the Authority could be back to zero looking for a buyer again. Jim Casserly,Development Consultant, replied that since this agreement was written a drop dead date has been added; the language is on page three of the agreement states the date of April 4, 2014 or whichever comes first. Different agreements have been tried involving the sale of public property and the problem, with an Option Agreement, is that the terms need to be worked out. The best option agreements are the ones with purchase agreements attached. If all the terms are sorted out a Letter of Understanding isn't needed so this is different than an Option Agreement. This is a declaration stating that the Authority intends to work together to see if this site will work. The developer doesn't know if this site will work yet and the price is not confirmed at this time because it is unknown what the Authority will require on the site. Because this information isn't available, a purchase agreement can't be created, which is what the developer wanted. HRA Meeting of September 5, 2013 4 Mr. Casserly added that the developer wants assurance that the Authority isn't actively marketing the site and wording has been added that this site will not be listed on MLS or marketed during the term of this agreement. Mr. Bolin said that the agreement with the realtor was up at the end of June. Commissioner Eggert asked if the realtor would be compensated for the sale. Mr. Bolin replied not until a closing takes place. Mr. Casserly said that is another issue that needs to be resolved. The realtor's agreement contained provisions to pay commission based on square footage even if the land was conveyed for a dollar. It is unlikely that will happen but right now there aren't enough numbers as to what the price of the site should be. Chairperson Commers asked what the purchase price would be reduced from. Mr. Casserly said he didn't know. The problem is the road, what has to be done with the road and what kind of amenities make this site work. There are things that can be done to make this a more desirable product that the city may think is worthwhile doing like underground parking or a community building. We are not in the land holding business; we are in the development business. It will be developed in a defined period of time which is the purpose of this type of agreement. This agreement is meant to develop an understanding that the Authority will work cooperatively to see if this will work out. Chairperson Commers stated that it is unknown what the public improvements will be at this time. Mr. Casserly answered that is correct. Commissioner Eggert said basically this land will be tied up without a cost and allowing the developer to do the work they need to do to determine what can be done and if it can be done. If the Authority is willing to tie this up for this period of time the only costs to the HRA are the taxes during this timeframe. In the end this could be a nice development. Mr. Casserly added that the property is currently tax exempt. Commissioner Backlund summarized that the Authority wants to do business with Trident and because it is unknown what will be developed, eight months is given to see what will work and the Authority will take the risk of tying the land up for that period of time. Chairperson Commers thought that was an accurate description of what will take place. Commissioner Eggert said that the developer will probably spend a sizeable amount of money in coming up with a development. HRA Meeting of September 5, 2013 5 MOTION by Commissioner Holm to approve the Letter of Understanding—Trident Development (GWNE) as amended with language of expiration date of April 4, 2014 included. Seconded by Commissioner Eggert Roger Fink, Trident Development, said that this is a unique instrument in their line of business as well. A great deal of expense will incur in the next months in engineering and design work. He appreciated the Authority's confidence in their abilities and said that Trident would gladly come back to the Authority at any time to provide updates on the project. Trident is looking forward to working with staff to create the plan. This development comes with timing challenges and there is a possibility Trident may ask, in February or March, for an extension if they are almost there but not quite ready to close. Chairperson Commers asked about the preliminary thought of phasing in the project. Mr. Fink replied that the market study will tell them a lot. He is thinking that there will be one building under construction and will fill it. When it is complete and if early market indications are strong enough they may build another while the next one fills up. There may be delays with the winter season and the next building may start in the spring. The lending source will also have qualifications on what triggers the next building source. One lender is looking for a larger presence in this marketplace and is eager to help them out. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY 7. Approval of Parking Lot/Walkway Lighting Purchase—Fridley Municipal Center Paul Bolin,HRA Assistant Executive Director, stated that the Authority owns all the property around Municipal Center. The City is replacing the roof and walkway above the police shooting range and garage ($178,000). They have asked HRA for assistance to replace four light poles and fixtures ($7,520). Staff recommends approval of the City's request. MOTION by Commissioner Gabel to approve the parking lot/walkway lighting purchase at the Fridley Municipal Center. Seconded by Commissioner Eggert. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY INFORMATIONAL ITEMS: 1. Potential Purchase Offer—Columbia Area Paul Bolin,HRA Assistant Executive Director, said that this item should be removed. Council has expressed an interest in purchasing the arena. An appraisal has been done and it will take a combination of the HRA and city resources to make an offer to purchase the property. Questions need to be answered before staff can make a recommendation on this item. Staff is asking the Authority to meet with City Council on Monday, September 23 to have a discussion about the appraisal, offering price and funding for the purchase. HRA Meeting of September 5, 2013 6 2. Redevelopment Agreement—Hyde Development(4800 East River Road) Paul Bolin, HRA Assistant Executive Director, stated that this is probably the most complex arrangement the Authority will ever have. Paul Hyde is very careful and has good legal counsel. He has been his own attorney up to this point. Another draft is going back and forth and many changes have been made since the last draft. The finalized agreement should be ready for the Authority by the end of next week. The Authority is asked to review the agreement and send back any questions to staff. 3. Redevelopment Assistance Request—Industrial Equities (5601 East River Road) Paul Bolin,HRA Assistant Executive Director, stated that City Council discussed the five year timeframe to some great length on July 22nd. The Council did not ultimately amend their motion to include the five year timeframe in their approval. Therefore, there is no timeframe for the City to make a determination on the future construction for the 57th Avenue extension. Mr. Allen intends to get the information necessary to staff in time to bring this item forward to the October 3rd meeting. Chairperson Commers said that the entire plan and investment in the transit district is to create an urban movement of people to the mass transit. He didn't think the Authority give up on it. Scott Hickok, Community Development Director, said that staff understands Mr. Allen's concern about having a time frame but there are complex issues below the surface. Staff doesn't want to give up on the Comprehensive Plan to make those connections and types of things that are in store for this area. 4. Housing Loan Program Update Paul Bolin,HRA Assistant Executive Director, said that two regular loans were closed in August for a total of 8 year to date which is ahead of last year. There was one remodeling advisor visit making a total of four year to date. Commissioner Holm asked what the loans were for, what kind of improvement were being done. Mr. Bolin thought one was for a kitchen remodel. ADJOURNMENT: MOTION by Commissioner Backlund to Adjourn. Seconded by Commissioner Gabel. UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED AND THE MEETING ADJOURNED AT 8:00 P.M. Respectfully Submitted, /64.:tht Krista Peterson, Recording Secretary COMMUNITY DEVELOPMENT DEPARTMENT PLANNING DIVISION Memorandum DATE: September 27, 2013 TO: HRA Commission Members FROM: Julianne Beberg, Planning Assistant SUBJECT: Proposed 2014 HRA Commission Meeting Dates The following dates are for your review and approval of the proposed 2014 HRA Commission meeting dates. Jan. Feb. Mar. April May June July Aug. Sept. Oct. Nov. Dec. 2 6 6 3 1 5 3 7 4 2 6 4 ACTION ITEM HRA MEETING - OCTOBER 3, 2013 CITY OF FRIDLEY Date: September 25, 2013 To: Wally Wysopal, City Manager/ Executive HRA Directo t From: Paul Bolin, Assistant Executive HRA Director Subject: Development Agreement for Hyde Development As there have been no changes to the agreement sent to you on September 9th, we did not include a copy in this agenda packet, but will make a copy available for the public to review. As you will recall, in June, the Authority adopted a Term Sheet for the redevelopment project. The Term Sheet outlined the redevelopment and public finance terms that were to be put in the Development Agreement between the Authority and Hyde Development. The Development Agreement further formalizes the terms previously approved and adds detail to the issues. Because of the size of the document and complexity of the project, I kindly ask that you please email me with any detailed questions you may have prior to the meeting. I will then compile a master list of questions and provide answers back at the HRA Meeting on October 3rd. Staff recommends approval of the attached resolution authorizing the execution of the contract for private redevelopment between the Authority and Hyde Development's Fridley Land LLC. HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY COUNTY OF ANOKA STATE OF MINNESOTA RESOLUTION NO. 2013-15 A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY AND FRIDLEY LAND LLC BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota (the "Authority") as follows: Section 1. Recitals. 1.01. It has been proposed that the Authority enter into a Contract for Private Redevelopment (the"Contract") with Fridley Land LLC (the "Redeveloper"). Section 2. Findings. 2.01 The Authority hereby finds that it has approved and adopted a development program known as the Redevelopment Plan for its Redevelopment Project No. 1 (the "Redevelopment Program")pursuant to Minnesota Statutes, Section 469.001 et seq., as amended and supplemented from time to time. 2.02 The Authority hereby finds that it has approved and created Tax Increment Financing District No. 20 and Hazardous Substance Subdistrict (the "HSS") No. 20A and approved and adopted the Tax Increment Financing Plans relating thereto pursuant to Minnesota Statutes, Section 469.174 et seq., as amended and supplemented from time to time. 2.03 The Authority hereby finds that the Contract promotes the objectives set forth in its Redevelopment Program. Section 3. Authorization for Execution and Delivery. 3.01 The Chairman and the Executive Director of the Authority are hereby authorized to execute and deliver the Contract when the following conditions are met: (a) Substantial conformity of the Contract to the form of Contract presented to the Authority as of this date, with such additions and modifications as the Officers may deem desirable or necessary as evidenced by their execution of the Contract. Resolution No. HRA 2013-15 Page 2 PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY THIS 3rd DAY OF OCTOBER, 2013. Lawrence R. Commers, Chairman ATTEST: Walter T. Wysopal, Executive Director MMB:4850-5998-4148,V. 1 lir ACTION ITEM HRA MEETING OF OCTOBER 3, 2013 CITY OF FRIDLEY DATE: September 25, 2013 TO: Wally Wysopal, City Manager FROM: Scott J. Hickok, Community Development Director Paul Bolin, Assistant Executive HRA Director SUBJECT: MN DEED Contamination Cleanup Grant Application INTRODUCTION Hyde Development, has requested the Authority's assistance to obtain a grant through the Minnesota Department of Employment and Economic Development's "Contamination Cleanup" grant program. As Hyde Development moves forward with redeveloping the BAE site, they have identified a need for approximately $12M in grant funds. At this time, Hyde Development has a deadline of November 1st to apply for $1,000,000 in this grant funding cycle from MN DEED. DEED's Contamination Cleanup program assists with contamination investigations and cleanup of contamination in accordance with a Minnesota Pollution Control Agency approved response action plan (RAP). This program provides funding to sites that are the most likely to be redeveloped in the very near future and its goal is to clean up contamination in order to allow a site to retain and create new jobs. RECOMMENDATION Staff recommends approval of the attached resolution supporting Hyde Development's application for a grant through DEED's Contamination Cleanup Grant Fund. HRA RESOLUTION 2013 - RESOLUTION APPROVING APPLICATION TO ENTER INTO FUNDING AGREEMENT WITH THE DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT (DEED) FOR GRANT ASSISTANCE FOR THE 4800 EAST RIVER ROAD REDEVELOPMENT BE IT RESOLVED that the Housing and Redevelopment Authority in and for the City of Fridley (hereafter Fridley HRA) act as the legal sponsor for project contained in the Contamination Cleanup and Investigation Grant Program to be submitted on November 1, 2013 and that Assistant Executive Director is hereby authorized to apply to the Department of Employment and Economic Development for funding of this project on behalf of the Fridley HRA. BE IT FURTHER RESOLVED that the Fridley HRA has the legal authority to apply for financial assistance, and the institutional, managerial, and financial capability to ensure adequate project administration. BE IT FURTHER RESOLVED that the sources and amounts of the local match identified in the application are committed to the project identified. BE IT FURTHER RESOLVED that the Fridley HRA has not violated any Federal, State or local laws pertaining to fraud, bribery, graft, kickbacks, collusion, conflict of interest or other unlawful or corrupt practice. BE IT FURTHER RESOLVED that upon approval of its application by the state, the Fridley HRA may enter into an agreement with the State of Minnesota for the above referenced project(s), and that the Fridley HRA certifies that it will comply with all applicable laws and regulation as stated in all contract agreements. NOW, THEREFORE BE IT FINALLY RESOLVED that the Chairperson and the Executive Director,are hereby authorized to execute such agreements as are necessary to implement the project on behalf of the applicant. PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 3rd DAY OF OCTOBER,2013. LAWRENCE R. COMMERS, CHAIRPERSON WITNESSED: WALTER T. WYSOPAL, EXECUTIVE DIRECTOR I CERTIFY THAT the above resolution was adopted by the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota on October 3, 2013. DEB A. SKOGEN, CITY CLERK ACTION ITEM HRA MEETING OF OCTOBER 3, 2013 CRY OF FRIDLEY DATE: September 25, 2013 TO: Wally Wysopal, City Manager FROM: Scott J. Hickok, Community Development Director Paul Bolin, Assistant Executive HRA Director SUBJECT: Met Council Tax Base Revitalization Account Grant Application INTRODUCTION Hyde Development, has requested the City's assistance in their quest to obtain a grant through the Metropolitan Council's Tax Base Revitalization Account (TBRA) grant program. Hyde Development has identified a need for approximately $12M in grant funds to complete the redevelopment of the BAE site. At this time, Hyde Development has a deadline of November 1st to apply for $500,000 in this Met Council grant funding cycle. The TBRA awards $5M annually to clean up contaminated land for redevelopment. The goals of the program are to clean up polluted sites, increase the local tax base, add jobs and support projects that are "poised for development". The project at the BAE site would accomplish the goals of the TBRA program. HRA/ City's Role The HRA/City Finance Staff is to provide status reports during the grant term and annual progress reports up to four years after the end of the grant term. The reports include information on jobs, net tax capacity, property taxes and other development outcomes. RECOMMENDATION Staff recommends approval of the attached resolution supporting Hyde Development's application for a grant through the Metropolitan Council's Tax Base Revitalization Account Grant Fund. Paul Hyde and his consultants will be preparing all of the documents necessary for the application. HRA RESOLUTION 2013 - RESOLUTION AUTHORIZING THE SUBMISSION OF A GRANT APPLICATION TO THE METROPOLITAN COUNCIL FOR THE TAX BASE REVITALIZATION ACCOUNT FOR THE REDEVELOPMENT OF 4800 EAST RIVER ROAD WHEREAS, the City of Fridley is a participant in the Livable Communities Act's Local Housing Incentives Account Program for 2013, as determined by the Metropolitan Council, and is therefore eligible to make application for funds under the Tax Base Revitalization Account (TBRA); and WHEREAS Hyde Development has purchased the Northern Stacks Site, formerly BAE, located at 4800 East River Road and has made application for the industrial clean up and redevelopment of this property; and WHEREAS the 122 acre site is heavily contaminated with pollution and the proposed uses of the requested funds is consistent with goals of the TBRA; and WHEREAS the Fridley Housing&Redevelopment Authority(Fridley HRA)has the legal authority to apply for financial assistance, and the institutional, managerial, and financial capability to ensure adequate project administration. NOW, THEREFORE BE IT RESOLVED that upon approval of its application by the Metropolitan Council, the Fridley HRA may enter into an agreement with the Metropolitan Council for the above referenced project(s), and that the Fridley HRA certifies that it will comply with all applicable laws and regulation as stated in all contract agreements. NOW, THEREFORE BE IT FURTHER RESOLVED that the Chairperson and the Executive Director,are hereby authorized to execute such agreements as are necessary to implement the project on behalf of the applicant. PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 3rd DAY OF OCTOBER, 2013. LAWRENCE R. COMMERS, CHAIRPERSON WITNESSED: WALTER T. WYSOPAL, EXECUTIVE DIRECTOR I CERTIFY THAT the above resolution was adopted by the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota on October 3, 2013. DEB A. SKOGEN, CITY CLERK ACTION ITEM E./ HRA MEETING OF OCTOBER 3, 2013 CRY OF FRIDLEY Date: September 25, 2013 To: Wally Wysopal, City Manager/ Executive HRA Director From: Paul Bolin, Asst. Executive HRA Director Subject: Awarding of Demolition Contract - GWNE & HRP Staff worked with the City's Public Works Department to carry out a pricing quotation process for the demolition of the former Fridley Animal Hospital, the last structure still standing in the GWNE project area, as well as a single family home located at 561 Lafayette Street. The pricing quotes are due by, and will be opened at, 1:00 PM on October 3, 2013. The demolition contractors were provided a packet of information detailing the work to be done on site and a standardized form to submit their quotes. Additionally, they were provided an opportunity to inspect the structures to be razed. Staff is again working with Liesch Associates (environmental consultants) to assist in identifying the hazardous materials in each building and to oversee the abatement and hazardous material removals. Their involvement is necessary to monitor air quality after the removals and to document proper disposal of all hazardous materials. The demolition contractors, that have expressed an interest in providing quotes, have all done previous demolition work for the Authority. Staff will bring forward a recommended contractor at next Thursday's Authority meeting. INFORMATIONAL ITEM HRA MEETING OF OCTOBER 3, 2013 CITY OF FRIDLEY Date: September 25, 2013 To: Wally Wysopal, City Manager/ Executive HRA Director From: Paul Bolin, Asst. Executive HRA Director Subject: HRA Fund Balances On an annual basis, strictly for future planning purposes, staff has worked with Attorney Casserly and Development Consultant Greg Johnson in preparing a review of the Authorities various funds. This exercise helps to identify moneys that are available, now and in the near future, for funding redevelopment projects. These cash flow projections are not an accounting tool, rather they are a snap shot of the balances and obligations for each of the HRA's funds. The reports show that the Authority has the capacity to carry-on with existing projects and the ability to take on additional redevelopment projects. The reports are also an excellent tool for tracking the City's TIF Districts and identifying districts that have excess funds, as well as those that have a shortfall. This is good information to have as staff prepares the 2014 Draft Budget. On Thursday night, Greg Johnson will provide a brief overview of the attached cash flow projections. Attorney Casserly, Greg Johnson, Darin Nelson and I will then be available to take questions on the cash flow projections. 8000 Norman Center Drive T 952.885.5999 MONROE Suite 1000 F 952.885,5969 3 ' MO)CNESS Minneapolis.MN 55437-1178 svww.MMBLawFirm corn BERG James R.Casserly jcasserly@MMBLawFirm.com Direct 952.885.1296 MEMORANDUM To: City of Fridley Attn: City Manager Paul Bolin, HRA Assistant Executive Director Scott Hickok, Community Development Director Darin Nelson, Finance Director From: Monroe Moxness Berg PA Attn: James R. Casserly, Esq. Sevenich, Butler, Gerlach & Brazil, Ltd. Attn: Greg D. Johnson, CPA Date: September 16, 2013 Re: 2013 HRA Cash Flow Projections Our File No. 9571-39 With the assistance of Greg Johnson, from Sevenich, Butler, Gerlach & Brazil, Ltd., we have updated the development funds and cash flow analysis for the HRA. As of 12-31-2012, the HRA had fund balances in all development accounts of $10.8 million, and cash balances of $10.0 million. The table below provides an overview of these balances: FINAL FINAL Projected 12/31/11 12/31/12 12/31/13 Fund Balances 9.7M 10.8M 11.8M Cash Balances 9.0M 10.0M 11.1M Using pay 2012 market value and tax rate information obtained from the County, we are projecting that the total 12/31/2013 fund balances will increase by almost $1.0M to $11.8M, assuming no major program expenses. The HRA has created three new TIF Districts over the past year. These are TIF 20 (BAE Site), TIF 21 (Gateway NE) and TIF 22 (Northstar Transit Station District). No tax increment projections, or additional TIF District costs, are currently shown in this analysis for these three districts. Not reflected in the available cash balance are two large assets. First, $1.1M in Mortgage Receivables are recorded in the Housing Loan Program. Over time, the HRA should be able to collect these funds, and have them available for other HRA initiatives. Second, $5.0M has been paid for land acquisitions over the past few years some of which is being held for resale. In future years the HRA can expect to have additional cash available as this land is sold. Our current analysis does not reflect any repayment of the Mortgage Receivables and only$225,000 of land sale proceeds (from TIF#18). 2 There are no G.O. bonds outstanding at this time. This report contains the following schedules on the following pages: 1 - 2 TIF Fund Summary Year End Fund Balances for all TIF Districts (2010-2023) 3 Cash Balances Actual 2010-2012; Projected 2013-2015 4 Assumptions Class Rates, Tax Rates 5 - 6 Revenues Developer loan, Special Assessments, Other 7 - 8 Revenue Notes Payment Due in all TIF Funds 9 - 29 TIF Funds 1 —21 (2010 through 2024) 30 - 31 Housing Replacement Fund (HRF) 32 Revolving Loan Fund (RLF) 33 HRA General Fund 34 - 35 Summary Inc. & Exp Revenue & Expenses -All Funds (TI, HRF,RLF, Gen'I Fd) 36 - 37 Fridley HRA TIF Districts Overview Some issues which need further discussion include the following: 1. TIF 1 & 3 — Approximately $46,000 remains in TIF Districts #1 and #3. Since the bonds have all been retired, there are no other eligible costs to use these funds. Assuming no tax petitions for reducing assessed values are outstanding, which would result in a charge back to these TIF districts by the County, it appears these funds need to be returned to the County. If possible, these funds should be returned to the County by 12-31-2013 so TIF District reporting to the OSA can be finalized with the 2013 TIF District Reports next year. 2. TIF 6 (Medtronic)—As required by the special legislation passed for this TIF District in the Laws of Minnesota for 1999, "the original net tax capacity of tax increment financing No. 6 must be increased by the net tax capacity of 200,000 square feet of building improvements, exclusive of parking structures." This increase is effective with Pay 2012 taxes. Also, the land payment that Medtronic pays to the HRA increases from 11.11% of the tax increment paid to Medtronic, to 22.22% starting with the September 1, 2012 payment. The net impact of this change is that approximately $12.16M of market value (or 243,000 of tax capacity) has become available for all taxing jurisdictions to levy against which will have the effect of reducing tax rates assuming, of course, that all other variables are held constant. 3. TIF 7 (Winfield) — The required decertification date for TIF #7 is 12-31-2012. All remaining funds have been transferred to TIF#18. 4. TIF 9 (Onan) —The fund balance in TIF 9 will grow to almost $2.5M by 12-31-2015. Before this district terminates, a use for these funds must be identified. One possible use it to fund the shortfall in TIF #18 (Gateway West). There is currently a $1.27M shortfall in this district that in never expected to be repaid. We recommend that at least $500,000 be transferred now to TIF #18. We may want to consider additional transfers once full development has been completed in Gateway West and we have a better understanding of the deficiency. The Onan funds should be used for projects in which full recovery, or maybe even no recovery, is expected. We should not make interfund loans from this TIF District because we would have to keep this TIF Fund open until it was repaid — and then it most likely have to be returned to the County. 3 5. TIF 11, 12 & 13 (Northstar Station Area pooling) — Due to special legislation the authority received, TIF Districts 11, 12 & 13 are 100% poolable for costs in the Northstar Station area. By the end of 2013, there will be about $341,000 in available funds from these three TIF Districts and approximately $1.0M by the time these TIF Districts must be decertified, which is 2018, 2019 and 2023 respectively. 6. TIF 20 (BAE Site)—We have not included the anticipated redevelopment of the BAE Site. Once the development agreement is completed and construction commences, we can include this information. The current projections are for the development of approximately 1.45 million sq. feet of bulk warehouse, showroom and office space with a completed assessed value approaching $80 million. 7. TIF 21 (Gateway NE) — The HRA has spent significant resources for property in the Gateway Northeast area. Through redevelopment of this area, the HRA hopes to recover most of its costs through the sale of land and collecti on of tax increment. 8. TIF 22 (Northstar Transit Station District)—This district was created in early 2013. The district contains 45 parcels with a current assessed value of $86.4M. The TIF projections show new redevelopment occurring over the next 10 years and a completed value of $215M. The first phase will start in 2014 with new development on the old JLT site. 9. Housing Replacement Program (HRP) — Tax increment is only collected for 15 years on properties in the HRP. Phase 1 started in 1998 and the last tax increment for the eight parcels in this phase were decertified at 12-31-2012. Phase 2 started in 1999 with six properties, and these will be decertified at 12-31-2013. Phase 3 started in 2003 and Phase 4 started in 2007. With new legislation recently passed, parcels in Phases 5, 6, 7, 8 & 9 have been added. 10. Revolving Loan Fund (RLF) — Since 12/31/2001, the RLF has ended the year with a cash balance of over $2.0 million. The 12/31/2012 cash balance was $2.8 million. These resources are being used to fund this program and other HRA housing initiatives. 11. Interfund Loans — The HRA General Fund shows a 12/31/2012 fund balance of $8.3M, but only a cash balance of $3.8M. Inter-fund loans of $4.5M have been advanced to cover negative fund balances in the following Districts: TIF#6 (Lake Pointe— Medtronic) 455,303 Expect to be repaid TIF#16 (57th Ave Redevelopment) 53,760 Expect to be repaid TIF#17 (Gateway East) 679,653 Expect to be repaid TIF#18 (Gateway West) 1,270,109 Do not expect all to be repaid TIF#21 (Gateway Northeast) 1,450,000 Expect most of it to be repaid Housing Replacement Program 600,000 Expect to be repaid Total Interfund Loans 4.508.825 * * This amount will be adjusted in 2013 to reflect expenses in TIF #21. This adjustment will also change the HRA General Fund balance but not the cash balance. 4 As noted in item 4 above, the negative balance in TIF #18 is unlikely to be fully eliminated, but it is difficult to project the shortfall until the project has been fully built out. 12. TIF 19—As part of the Ominbus Public Finance Bill of 2009, (see Laws of Minnesota 2009, Chapter 88) passed by the Minnesota Legislature last year, the 5-Year Rule has been extended to 10 years for TIF Districts certified on or after 7-1-2003 and before 4-20-2009. This applies only to redevelopment and renewal and renovation districts. For the City of Fridley, this means that in TIF districts 18 and 19, new expenditures are allowed for up to 10 years after the districts were certified. There is little benefit for TIF #18 (Gateway West) since this district will use all its tax increment to recover costs already advanced. However, in TIF #19 (5110 Main St NE), the HRA may have an opportunity for maximizing the resources of this TIF district for the Northstar Project area or housing programs. Please keep in mind that this Cash Flow Analysis only assists the City and the Authority with its long range planning and in reviewing the solvency of its programs. We have included no project expenses for the years 2013 and thereafter. Subsequent to 2012, we have only included on the expense side those obligations which the HRA is committed to pay plus some administrative and miscellaneous expenses. For revenue projections, we have been most conservative by assuming the following: 1. No inflationary increases in market value. 2. No inflationary increases in the local tax rates. 3. No further construction by Medtronic. 4. Interest earnings on al I Fund Balances at 0.5% and only through 2015. We look forward to reviewing this Cash Flow Analysis with you and its underlying assumptions. Enclosures CITY OF FRIDLEY,MINNESOTA Page 1 HRA SUMMARY Fund Balances - 0.0% Inflation Actual Actual Actual Projected Projected Projected Projected Projected C _- Fund Fund Fund Fund Fund Fund Fund Fund Fund TIF-- Term of Balance Balance Balance Balance Balance Balance Balance Balance # # Descri'tion District Type 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12131/17 100 HRA General Fund non-increment 7,146,955 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 9,584,465 501 Housing Re.lacement 7/18/1996-12/2022 H 132,067 (9,561) 172,257 195,150 211,002 226,934 238,811 250,688 701 Investments (255) Remainin. Balance Return to Coun in 2010 450 1 Center City Pre 79 DECERTIFIED R1 14,490 12,897 12,897 0 0 0 0 0 All TI used to pay G.O.TI Bonds 451 2 Moore Lake-Decertified DECERTIFIED R1 0 0 0 0 0 0 0 0 452 3 North Area(Univ Ind Park)- DECERTIFIED R1 33,710 33,710 33,710 0 0 0 0 0 Totals-Pre'82 Districts 33,710 33,710 33,710 0 0 0 0 0 All TI used to .= G.O.TI Bonds Decertify#9 I 453 4 Johnson/Skywood/Frank S DECERTIFIED E 454 5 Paco/Paschke/E Ranch Est DECERTIFIED E 455 6 Lake Pointe Medtronic 12/1985-12/2025 R 556,093 449,242 445,435 445,992 446.555 447,123 447,123 447,123 456 7 Winfield-Decertified DECERTIFIED R 255,592 193,397 0 0 0 0 0 0 457 8 Shorewood Rest-Decertif:DECERTIFIED E 0 0 0 0 0 0 0 0 458 9 Onan/Mu .h Warehouse 09/1989-12/2015 R 1,126,261 1,270,339 1,593440 1,874,332 . 2,140,914 _ 2,408,827. 2,408,828 2,408,828 459 10 Northco Phase III -Decet DECERTIFIED E 0 0 0 0 0 0 0 0 INIMINIMIll■M■ariaariarisari ii∎i ..r ----- _ _ To '90 Districts 825,760 1,0 1,148,005 1,428,340 1,694,359 1,961,706 1,961,706 1,961,706 --�--T/F 11,12,13 avail onl for Northstar Transit Station District T/F 11 1Z13 462 m Univers' /Osborne 01/1992-12/2018 R 27,093 91 393 146,011 193,559 239,085 284,839 329,397 373,956< 463 ® 03/1992-12/2019 R 20,019 9 736 45,694 74,359 99,452 124,670 149,391 174,112 464 pi Satellite Lane Apts 06/1995-12/2023 R 51,201 MEM 37409 73,330 103,809 134,440 164,552 194,665 465 to Industrial Equities(Bus.Ctr DECERTIFIED E 0 0 0 0 0 0 0 0 466 ®MN Commercial Railway-9:DECERTIFIED E 0 0 0 0 0 0 0 0 467 16 EEEIZZMZIIIIIIIIIII 09/1997-12/2024 R argainalliaMI 48,954 28,565 9,256 10,245 0 0 468 m 2001-12/2028 R 698,962 673,559 652,980 636,193 619,238 599,320 579,402 470 18 2005-12/2033 R imam imam 1,228,090 1,106,747 1,014,185 945,896 930,214 912,131 472 19 5110 Main St NE Ind E. 2007-12/2034 R 18,138 4.012 3,395 M )J 2,945 =EMI 2,717 2,717 20 IMMEMMIIIIII. 2012- R 0 0 0 0 0 0 0 474 ®Gatewa = mesa Northeast St 2012- R 1 002,$36 1,122,024 1,146,290 1,150,501 1,158,987 1,158,987 1,158,987 No=Northstar Transit R IN -Post'80 Districts �ru Tir.�i�®®®®-------------------'-- - (3,427,580) (3,310,578) (2,870,574) (2,600,716) (2,374,967) (2,172,643) (2,047,897) (1,910,504) •Totals-TIF Districts 1-18 ------ ---== (2,653,620) (2,249,476) (1,675,961) (1,172,375) (680,607) (210,938) (86,191) 51,202 Total FUND Balance-All TIF Districts&HRA Gen'I Fund 4,725,403 5 809,915 6,888 144 7,679,818 8 448,421 9 195 431 9 534,437 9,886 355 265 al Revolvin. Loan Fund 3,892,374 3,859,019 3,909,535 4,156,183 4,204,064 4,252,184 4,284,562 4,316,940 265 .11.r 10 HI Rtaxixuaal:'!;Lai r.) .FIu6•! 0 0 0 0 -■_ ■�alisr ■sri - 0 -,-,--r- 0 0 Total FUND Balance TIF,Gen'I Fund,Revolvin. Loans 8,617,777 9,668,934 10,797,679 11,836,001 12,652,485 13,447,616 13,818,999 14,203,296 --- CASH Balances -�------ _ - -- 8,106,540 9,018,362 10,036,934 11,079,467 11,900,183 12,699,568 AVAILABLE USES -- ------ Redev.Funds Available-HRA General Fund 7,146,955 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 9,584,465 Redev.Funds Available-Pre'90 TIF Districts 6,7,9 825,760 1,014,495 1,148,005 1,428,340 1,694,359 1,961,706 1,961,706 1,961,706 Not Available-Post'90 TIF Districts 16-22 3,383,453 3,411,391 3,100,288 2,941,964 2,817,313 2,716,593 2,691,238 2,653,237' Northstar Station Area Costs 11,12,13 111.11WEEfill 100,813 229,714 341,249 442,346 543,950 643,341 742,733 Housin. Activities RLF,HRP 4,024,441 3,849,458 4,081,792 4,351,333 4,415,066 4,479,119 4,523,374 4,567,629 �∎an. ∎∎ rm r ra•orrr. rii∎r• r.rrr..rr.rmrirrrrmrirm.wr oolor.rrrr Total Available FUND Balances- 8,569,577 9,622,581 '10,751,0721 11,836,000 12,652,484 13,447,615 13,818,999 14,203,295 Restricted-Bonds DS onl -Pre'82&Pre'79 IF 1,3 48,200 46,607 46,607 0 0 0 0 0 ri�ri�ri�ri 1.11 Total FUND Balances,induding Restricted 8,617,777 9,669,188 10,797 679 11 836,001 12,652,485 13,447,616 13,818,999 14 203 296 --- 0 255 0 0 0 0 0 0 Tax Increment from TIF#1 and#3 is severel restricted.Curren all amounts in these districts are •a ' e debt service on the 2004B and 2005B bonds.Once these bonds are paid off,the HRA will be required to return any remaining funds to the County. Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 2 HRA SUMMARY Fund Balances - 0.0% Inflation Projected Projected Projected Projected Projected Projected C Fund Fund Fund Fund Fund Fund Fund TIF Term of Balance Balance Balance Balance Balance Balance I f Description District Type 12/31/18 12/31/19 12/31/20 12131/21 12/31/22 12/31/23 100 HRA General Fund non-increment 9,786,446 9,983,476 10,177,760 10,362,318 10,546,804 10,731,175 501 Housi • Re.lacement 7/18/1996-12/2022 H 256,555 262,422 268,289 274,156 279,372 283,544 701 Investments 450 11 Center Pre 79 DECERTIFIED R1 0 0 0 0 0 0 451 2 Moore Lake-Decertified DECERTIFIED R1 0 0 0 0 0 0 452 3 North Area(Univ Ind Park)-I DECERTIFIED R1 0 0 0 0 0 0 iimommem imir - 1iiiii®��--- - Totals-Pre'82 Districts 0 0 0 0 0 0 111.2-N'�.a�i•r��ir.zr�.11.• 12 Decert #13 453 4 Johnson/Skywood/Frank St DECERTIFIED E --- 454 5 Paco/Paschke/E Ranch Est DECERTIFIED E 455 6 Lake Pointe Medtronic 12/1985-12/2025 12111.arlailliraBIMIELEVEIMEOMM 447,123 456 7 Winfield-Decertified DECERTIFIED R 0 0 0 0 0 0 457 8 Shorewood Rest-Decertifis DECERTIFIED E 0 0 0 0 0 0 458 9 Onan/Mur.h Warehouse 09/1989-12/2015 R 2,408,828 2,408.': 2,408,828 2,408,828 2,408,828 2,408,828 459 10 Northco Phase III -Decertil DECERTIFIED E 0 0 0 0 0 0 - ----- _- ir__- - ii rr�-l®"- - - Totals-Pre'90 Districts 1,961,706 1,961,706 1,961,706 1,961,706 1,961,706 1,961,706 -_ _- available on! for • star Transit Station District 462 11 UnOsbome 01/1992-12/2018 IDINICMOr 41814 418,514 418,514 418,514 418,514 463 12 McGI n Bakeries 03/1992-12r2o1911311111111LAAMEEMIEMEI 223,554 223,554 223 554 464 13 Satellite Lane Apts 06/1995-12/2023 rallEgfilii 77" ;89 285,001 315,113 375,33; 465 14 Industrial Equities(Bus.Ctr'DECERTIFIED E 0 0 0 0 0 0 466 15 MN Commercial Railway-DE DECERTIFIED E Q 0 0 0 0 0 467 16 57th Ave Linn 09/1997-1 •<<•. R 0 0 0 0 0 0 468 17 Gatewa East 2001-1202028 R 559,484 539,565 519,647 499,729 479,811 459,892 470 18 Gatewa West 2005-4212033 R 884 048 875,965 857,882 839,799 821,716 803,633 472 IbLiiUilbFlfiiciiLlA 2007-11004 11011111110EMIMMEMEINEWANIMEMIEMMEGEOM 2,717 20 BAE Site RER 20124 R 0 0 0 0 0 0 474 21 Gatewa Northeast 2012- R 1,158,987 1,158,987) (1,158,987 (1,158,987) (1,158,987 22 N�st=ansit Station District R --_---__-_1=1111.1.- iiiiiiillaialialliliaillailaiiii•Telliii•I•liiiil Totals-Post'90 Districts (1,773,112) (1,680,277) (1,612,164) (1,544,050) (1,475,937) (1,407,824) Totals-TIF Districts 1-19 188,594 281,429 349,542 417,655 485,769 553,882 Total FUND Balance-All TIF Districts&HRA c-n'I Fund 10 231,596 10,527,327 10 795 590 11,054 129 11,311,945 11,568,601 ME 265 Revolvin. Loan Fund 11111 4,349,318 4,381,696 4,414,074 4,446,452 4,478,830 4,511,208 265 S•-cial Revenue/Housin' Pr••rams MI 0 0 0 0 0 0 �slassl•�sl•sl•sl•.iri-.�fiiiii.i7..i.+G: ir3rii�f'.... i�iiir..� otal FUND Balance(TIF,Gents Fund,Revolvin. Loans) 14,580,914 14,909,023 15,209,665 15,500,582 15,790,775 16,079,809 - MN CASH Balances MI----- AVAILABLE USES - ---- Redev.Funds Available-HRA General Fund 11111 9,786,446 9,983,476 10,177,760 10,362,318 10,546,804 10,731,175 Redev.Funds Available-Pre'90 TIF Districts 6,7,9 1,961,706 1,961,706 1,961,706 1,961,706 1,961,706 1,961,706 Not Available-Post'90 TIF Districts 16-22 2,615,236 t ] 2,539,233 2,501,232 2,463,231 2,425,230 North tar Station Area Costs 11,12,13 IIM 842,124 896,957 927,069 957,181 987,294 1,017,406 Housi •Activities RLF,HRP IN 4,605,874 4,644,118 4,682,363 4,720,608 4,758,202 4,794,753 -■limm••■■s1_isins>• r.r.rm arerwormer.+rr.r.mri.r+r.urm•r.rr Total Available FUND Balances-OM 14,580,914 14,909,023 15,209,664 15,500,581 15,790,775 16,079,809 El MI Restricted-Bonds DS onl -Pre'82&Pre'79 IF 1,3, 0 0 0 0 0 0 Total FUND Balances,including Restricted um 14 580 91.4 14,909 023 15,209 665 15 500 58.2 15 790 775 16 079 809 --- .11 0 0 0 0 0 0 Tax Increment from TIF#1 and#3 is severel restricts _-- on the 20048 and 2005B bonds.Once these bonds ar Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 3 SUMMARY OF HRA CASH BALANCES 1 Actual Actual Actual Projected Projected Projected 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 CASH BALANCES HRA General Fund 2,128,887 2,622,505 3,801,869 4,067,064 4,328,046 4,589,455 HRP Housing Replacement Program(HRP) 159,796 590,922 772,257 795,150 811,003 826,935 RLF Housing Funds(RLF) 2,845,956 2,801,309 2,853,960 3,100,608 3,148,489 3,196,609 Debt Service TIF Districts(Capital Projects Funds) 1 Center City-Decertified DECERTIFIED 14,490 12,897 12,897 0 0 0 2 Moore Lake-Decertified DECERTIFIED 0 0 0 0 0 0 3 North Area(Univ Ind Park)-Decertified DECERTIFIED 33,710 33,710 33,710 0 0 0 Pre'90 4 Johnson/Skywood/Frank Shear-Decertified DECERTIFIED 5 Paco/Paschke/E Ranch Estate-Decertified DECERTIFIED r 6 Lake Pointe(Medtronic) 12/1985-12/2025 556,653 556,284 333,991 333,434 ' 332,871 332,303 7 Winfield DECERTIFIED 255,592 193,397 ' 0 0 0 0 8 Shorewood Rest-Decertified DECERTIFIED 0 0 0 0 0 0 9 Onan/Murphy Warehouse 09/1989-12/2015 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 10 Northco Phase III -Decertified DECERTIFIED Post'90 11 University/Osbome 01/1992-12/2018 134,093 91,393 146,611 193,559 239,085 284,839 12 McGlynn Bakeries 03/1992-12/2019 83,981 33,735 45,694 74,359 99,452 ' 124,670 13 Satellite Lane Apts 06/1995-12/2023 110,799 61,685 37,409 73,330 103,809 134,440 14 Industrial Equities(Bus.Ctr)-Decertified DECERTIFIED 15 MN Commercial Railway-Decertified DECERTIFIED 16 57th Ave(Linn) 09/1997-12/2024 19,783 50,503 4,806 25,195 44,504 64,006 17 Gateway East 2001-122828 89,919 50,692 6,094 26,674 43,460 60,415 18 Gateway West 2005-12/2033 13,476 206,972 42,019 163,362 255,924 324,213 19 5110 Main St NE(Ind Eq) 2007-12/2034 85,980 114,296 48,142 48,365 48,591 48,820 20 BAE Site(RER) 21 Gateway Northeast 447,164 327,977 304,035 304,035 304,035 304,035 22 Northstar Transit Station District Investments(Interest Receivable) 0 (255) 0 0 0 0 TOTAL CASH BALANCES 8,106,540 9,018,362 10,036,934 11,079,467 11,900,183 12,699,568 Annual Char (3,555,055) 911,822 1,018,572 - 1,042,533 820,716 799,385 AVAILABLE USES Fund# HRA General Fund 100 2,128,887 2,622,505 3,801,869 4,067,064 4,328,046 4,589,455 HRP Housing Replacement Program(HRP) 501 159,796 590,922 772,257 795,150 811,003 826,935 RLF Housing Funds(RLF) 265 2,845,956 2,801,309 2,853,960 3,100,608 3,148,489 3,196,809 Redev.Funds Available-Pre'90 TIF#9(Onan) 458 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 Redev_Funds Available-Pre'90 TIF Districts(6,7) 455,456 812,245 749,682 333,991 333,434 332,871 332,303 Northstar Station Area Costs(11, 12,13) 462,463,464 328,873 186,813 229,714 341,248 442,346 543,949 Not Available-Post'90 TIF Districts(16-22) 656,322 750,185 405,096 567,631 696,514 801,488 Total Available CASH Balances 8,058,340 8,971,755+,__9,990,32j 11,079,466 11,900,183 12,699,567 Restricted-Bonds DS only-Pre'82&Pre'79 TIF Dist(1,3) 48,200 46,607 46,607 0 0 0 Total CASH Balances,Including Restricted 8,106,540 9,018,362 ' 10,036,934 11,079,467 11,900,183 12,699,568 0 0 0 0 0 0' Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY, MINNESOTA Page 4 ALL TIF DISTRICTS ASSUMPTIONS IIIIIIININ MINIM ACTUAL ACTUAL ACTUAL ACTUAL Projected Projected Projected Projected MIME ------- 2016 ..-- 2009 2010 2011 2012 2013 2014 2015 &beyond IIIIMININ Interest Earnings(on positive fund balance) --- 0.50% 0.50% 0.50% 0.00% Interest Expense(on negative fund balance) --- 0.50% 0.50% 0.50% 0.00% Administrative Fees ---- 10.00% 10.00% 10.00% 10.00% MEM- Admin Fee Limitations ------- Districts with Cert Req Date before 8/1/01- --- TIF 6,7,9 Districts with Cert Req Date after 7/31/01- -- TIF 11 - -- ---- Commercial!Industrial --- --- Market Value Base 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 Base Rate - 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% Rate for value above base 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% Re----■--=-- --- Market Value Base 0 0 0 0 0 0 0 0 Base Rate - 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% Rate for value above base 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% Rental -Low income/Class 4d (TIF#1) -_�---- Market Value Base 0 0 0 0 0 0 0 0 Base Rate III 0.75% 0.75% 0.75%' 0.75% 0.75% 0.75% 0.75% 0.75% Rate for value above base 0.75% 0.75%, 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% a--- - --- Residential Homestead --- Market Value Base 500,000 500,000 ' 500,000 500,000 500,000 500,000 500,000 500,000 Base Rate --- 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% Rate for value over base 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% MEM- NMI= �� 99.64% Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64/0 99.64/0 99.64% Inflation MINI 0.0t '`0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Fiscal Disparities Reduction-TIF#3 decertifed 2008 ----- (percent of captured tax capacity) ------ Local Tax Rates* ------- City of Fridley 0.28640 0.32258 0.36986 0.39615 0.47362 0.47362 0.47362 0.47362 Anoka County -- 0.32078 0.35189 0.39952 0.41146 0.44411 0.44411 0.44411 0.44411 ISD# 1111111 ------- Misc Ma ------- 11111111.11111 Watershed ---_- - TI Districts 1111.ISD District ---- =- 1 ®16 =MI6 Cities 0.99092 1.13820 1.26078 1.32490 1.51333 1.51333 1.51333 1.51333 2 8 1.11.11Ell Rice Creek "Moore Lk" 1.00601 1.15294 1.27676 1.34799 1.52513 1.52513 1.52513 1.52513 3 mom 16 6 Cities "TIF#3" 0.95075 1.06679 1.19052 1.28071 1.45661 1.45661 1.45661 1.45661 6 19 20 m®Mississip•i "Medtronic" 0.91331 0.99423 1.03700 1.12652 1.29928 1.29928 1.29928 1.29928 7 9 m®16 Rice Creek "Onan"** 0.96584 1.08153 1.20650 1.30380 1.46841 1.46841 1.46841 1.46841 ** Onan"Frozen Tax Rate T1F#9 is.97756 ------ ---- Average: 0.96537 1.08674 1.19431 1.27678 1.45255 1.45255 1.45255 1.45255 IIIIIIIIII- ©Local Tax Rate does not include any rate charged for the State Property Tax. --- It also excludes any effective rate adjustment due to fiscal disparities(In previous years this equated to an effective 10%higher rate). Fridley Cash Flow 2013c.xlsx Prepared by Sevenich, Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 5 .11.111 Ill MI 111 OTHER REVENUES -illi -------- ENE III 1111. Int.Rt III Term 2010 2011 2012 2013 2014 2015 2016 2017 2018 NE _NI -------- HRA General Fund -IIN�--------- Sheet Metal Connectors(MSCJ,Inc.)Loan -------- .11.1 $200,000 5.00%.(2/1995-2/2003) --_--- EM -U -----_-- Victor Rosenblum Loan -II -------- N- $125,000 5.00%im(2/1997-8/2002) -------- 1011 -U�--------- TIF#15 -NI --- ---- •Minnesota Commercial Rail Property Loan -- _---- EMI $125,000 5.00%.(8/2000-2/2008) --- ---- Sholwood merKs -i ==-�---- Shorewood _ill(1991-2003) El Moore Lake Shopping Center •(1991-2003) ---- === •Northwest Racquet -11(1991-2003) -- -�--- Mal II � Tax Levy I 472,870 471,919 428,756 428,756 428,756 428,756 428,756 428,756 428,756 ■ III ---- Rental $800 per mn (2001-Frauenshuh Pkg Lot) 11,800 9,600 9,600 9,600 9,600 9,600 9,600 9,600 9,600 II� =II --- _-_-- ENE SUBTOTAL-HRA General Fund Revenues 484,970 481,519 438,356 438,356 438,356 438,356 438,356 438,356 438,356 OTHER ---II. ------ TIF#12 -■-- � ----- III U.hmn--P-■(2/1994-82008) ----- TIF#14 IIII ------ •Industrial Equities Loan I 1111111111------- NM $140,000 _El ---_--- NM-_ 5.00%11(8/1998-8/2006) ------- Agro-K Loan(TIF#2) Payments readjusted at 90/2005 ------ EMI $75,000 5.00%in(11/1997-10/2015) 8,473 =- 8,473 8,473 7,061 refinanced Nov,2005 11.75%1111(11/2005-10/201$ -_------ NM MI ACCAP Loan(HLP-Fund II Annual Payments ------ MU _■ -------- := $57,500 �:(8/1 996-82025) 3,798 3,798 3,798 3,798 3,798 3,798 3,798 TIF Admin -------- U. =: 386,176 182,171 127,123 121,949 122,483 92,157 92,424 91,756 other -- -_--- ■- : 12,231 0 _�---- -------- TOTALS $ 722,500 _■ 509,171 867,695 620,527 577,749 572,576 571,697 534,311 534,577 533,910 NM �� NM MI HRA General Fund III -----_-- Medtronic Land Sale Receipts • 233,170 436,398 144,324 132,591 132,227 132,227 132,227 132,227 132,227 Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 6 NM III OTHER REVENUES _E ---_-- MEI NI NMI In 1111111MEMEI Int Rt. _Term 2019 2020 2021 2022 2023 2024 2025 .1.1 IIII HRA General Fund _Ill ------ Sheet Metal Connectors(MSCJ,Inc.)Loan ------ M- $200,000 5.00%1.(2/1995-2/2003) ----- NM M Victor Rosenblum Loan _NI ------ ISM $125,000 5.00%Ill(2/1997-8/2002) --_--- TIF#15 _MI --IIIMIF'IIIIIM- •Minnesota Commercial Rail Property Loan $125,000 5.00%.(8/2000-22008) --- --- • Assessments -I --r• •Shorewood _•(1991-2003) IIMMIC- 1 II Moore Lake Shopping Center •(1991-2003) -_4 IIIL'AM MI Northwest Racquet -_(1991-2003) -`mm - ©m - -----E =rK --- - - _-- - - N. II III.''Mr AIIIIIII Tax Levy -1. 428,756 428,'` 4, 428,756 428,756 428,756 428,756 428,756 NM MI Ell.r."1"AillIIMIL MINN Rental $800 per mn(2001-Frauenshuh Pkg Lot) 111W":2y ` •,600 h a 9,600 9,600 9,600 9,600 9,600 NM III IIIMEMIllvo-,21111111=1 __ II _ F,..r. ------------------- •.SUBTOTAL-HRA General Fund Revenu .' 438,3 ';' 438,356 438,356 438,356 438,356 438,356 438,356 OTHER IIIIIIMINFAITMAIIIMIL MINI TIF#12 11111111111FAINIF AIM •McGlynn Development Payment (2/199 "008) 77 ---- .1.1 ..11.11L 1r Aliiiiil TIF#14 _W ------ •Industrial Equities Loan rA w ----- __ $140,000 -4: .1.11k ----- __ 5.00:IN(8/1998 '+T+a------ U. ►1111111111/, �� := Loan(TIF#2) 0=74,, .' sted 'S 005 ----- $75,000 5.00%_ik,• ' 10/2015)--__-- refinanced Nov,2005 11.75%■(11 -10/2015)------ M- _I ACCAP Loan(HLP-Fund 265) In Annual Payments _----- NM MI MEI $57,500 7.25%Ill(8/1996-8/2025) 3,798 3,798 3,798 3,798 3,798 3,798 3,798 NM IM TIF Admin El 86,805 84,058 74,333 74,261 74,145 70,336 70,336 NM INI other __� ----- ■ 722,500 ■ ----- TOTALS $ _I 528,959 526,212 516,487 516,415 516,299 512,490 512,490 WM 1110 MEM Ell HRA General Fund -II ------ In Medtronic Land Sale Receipts _ 132,227 132,227 132,227 132,227 132,227 132,227 132,227 Fridley Cash Flow 2013cxlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 7 El .1=111111111.70. -_�---- REVENUE NOTES ___--- 111110=11 Int.Rt. %of TI Term 2009 2010 2011 ;. 2012 h ,-'013 2014 2015 2016 2017 NW _' TIE 96(Lake Pointe) Reimbursement Payments" -_ ? '' of tax ca . Medtronic __----� . y med to County II All Eligible ■ 6.75% 90%of TI 82001-2/1012 764,255 902250 c ='Tim 645,022 596,660 595,020 595,020 595,020 595,020 •__ 90%of TI 8/2012-2/2026 - Med Land payment III-__---1.1rel reases to 22.22% TIF 916(57th Ave) Mil t' , Linn Project __ 0 - _'Mr' • 175,000 8.50% 90%of TI 8/1999-22012 �',�, 26,4 ' r, 25,139 0 0 0 0 0 0 IN�� TIF 919 111111.11.1,'1C ' - Industrial Equities-5110 Main St.NE ..°?. • 1,500,000 7 00% 90%of TI 8/2009 2/2021 A 178,15 107,238 103,132 93,301 87,523 87,523 87,523 87,523 1111-_�-- ► REVIEW BENEFIT TO HRA OF PREPAYING REV.NOTE a�■�� .'MI IN Iimi„lf - $ 1,675,000 --Total Revenue Not -'4-11".:'' 850,701 1,106,860 964,984 748,154 689,961 682,542 682,542 682,542 6.82,54.2 • 111.11111ftli-- • variance 0 0 0 0 0 0 0 0 0 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 8 1. IME REVENUE NOTES ___---Ear A III-__'----r:Alll M-- II Principal Int Rt %of TI Term 2018 2019 s 2020 t '021 2022 2023 2024 IN IIIM NOVA IL',IMO TIF 08(Lake Pointe) "Reimbursement Payments" W2AIIMPUElliftall-_ Medtronic MIN L- 1111Or AIN--- •AII Eligible 6/5% 90%of TI 8/2001-22012 595,020 IIIL,.777e 595,020 595,020 595,020 595,020 595,020 III -_ 90%of TI 8/2012-2/2026 ` 1---- Ill 1.111 II MI TIF#18(67th Ave) ___-111. _ Linn Project _MN 0INIIIVv - 175,000 8.50% 90%of TI 8/1999- •:. -.' i, 0 0 0 0 0 0 1. ME IWAIIIIANIK =ME 1 TIF#19 _M_IW 411•11,111•111 MIN ---- Industrial Equities-5110 Main St.NE 111W IMF --_- • 1,500,000 7.00% 90%of TI 82009 7A1111130,1 87,523 87,523 0 0 0 0 Ell IMIMP° 'NM.Illi IN IIIINFAIIII■h■WIIIMMI REVIEW BENEFIT TO HRA OFaL NO ----- •-_M\NEE= MN------ III _i►NINNY all --__ 'W.MEI -- $ 1,675,000 __Total R lr otes 682,542 682,542 682,542 595,020 595,020 595,020 595,020 II MI ILIIMIIMII -__-variance 0 0 0 0 0 0 0 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 9 TIE DISTRICT*1 County A2&A8 1 TIF DISTRICT*1 Center City-Decertifie City Fund 450 Center CIty-Decertified Redevelopment District Pre-1979 05/1979-8/1/2009 1 TOTALS TIF Plan To End Actual Actual Actual Actual Projected----> Budget of District 2008 2009 2010 2011 . 2012 2013 2014 2015 Fund Balance 0 2,320,715 3,028,876 3,275,701 14,490 12,897 12,897 0 0 Revenues: Inflation Only received first 1/2 Tax Increment(TI) 0.00;6 15,566,887 15,004,240 597,743 317,888 0 0 -Market Value Homestead Credit(MVHC) 128,289 17,104 17,565 Bond Proceeds 10,506,084 . Loan Proceeds 4,852,080 Other Revenues 40,815 Investment Earnings* 1,700,000 535,432 100,319 1,440 9,548 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 4,852,081 Annual Revenues Proj>Budg: 17,266,887 35,919,021 715,166 336,893 9,548 0 0 0 ' 0 0 Expenses Land/building acquisition 13,192,079 10,149,245 Site improvements/prep.cost' 3,548,973 1,364,482 Installation of public utilities 10,000 2,061 Parking facilities 1 482,879 290,065 Streets and sidewalks 10,000 4,050 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%I 1,700,000 594,309 7,005 3,474 473 1,593 Professional Services 75,084 School Dist.referendum reimb 1,172,763 Interest Expense** 0 0 0 returned to County 5/29/2010 Transfers Out 1,685,444 1,515,223 Debt Service-Bonds 28,182,783 i 15,708,261 0 86,594 1, 962 Debt Service-Rev.Notes 0 paid off Feb,20 Debt Service-Loan 4,852,081 Interfund loans 0 ' Other Expenses 21,170 ' 12,897 Use for MV tax petition r Annual Expenses 47,126,714 35,919,021 7,005 90,068 3,270,759 1,593 0 12,897 0 0 Annual Increase/Decrease (29,859,827) 0' 708,161 246,825 (3,261,211) (1,593) 0 (12,897) 0 0 - --A Ending Fund Balanct* 0'' 3,028,876 3,275,701 14,490 12,897 12,897 0 0 0 0 - *Use of funds in this TIF District are severely limited. After final debt service payments have been made, the TIF District should probably be decertified. CASH Balance 3,014,072 3,275,901 14,490 12,897 12,897 0 *Interest Earnings(on Beg of Yr balance) 4.3% 0.0% 0.3% 0.0% 0.0% 0.0% **Interest Expense(on negative fund balance) Actual Actual Actual Actual Actual Actual Administrative Fees-Annual 4.0% 1.2% 1.1% Administrative Fees-Cumulative Estimated 4.0% 3.9% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% Original Market Value 7,833,600 7,833,600 Original Tax Capacity 119,311 118,636 Total Market Value 60,529,000 61,306,238 Estimated Tax Capaci 779,861 797,407 Ca Mured Tax Capaci 660,550 678,771 Calculated Tax Increment 629,594 670,186 Variance(ind MVHC) 14,747 334,733 0 0 0 0 0 0 Tax Rate 0.95658 0.99092 Tax Collection Rate 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 10 I 1 County TIF DISTRICT#3 182,83,D3&D5 TIF DISTRICT 93 North Area(Univ Ind Paris) City Fund 452 North Area(Univ Ind Park)-Decertified Redevelopment District 05/1982-12/2008 TOTALS TIF Plan To End Actual Actual Actual Actual Pro- -> Budget of District 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance 2,193,076 1,727,950 37,805 33,710 33,710 33,710 0 0 Revenues: Inflation Tax Increment(TI) 0.00% 24,900,000 23,921,254 1,319,401 Market Value Homestead Credit(MVHC) 0 , Bond Proceeds 613,318 Loan Proceeds 0 Other Revenues 282,910 Investment Earnings* 2,500,000 482,891 37,693 437 0 , Change in FMV of investments 0 Sales/lease proceeds 200,000 0 Transfers In 8122 978 Annual Revenues Proj>Budgr27,600,000 33,423,351 1,357,094 437 0 0 0 0 0,1 0 I I • r 1 I , Expenses Land/building acquisition 7,460,446 2,557,339 Site improvements/prep.costs 6,771,745 510,054 Installation of public utilities 554,250 0 Parking facilities 1,026,297 0 Streets and sidewalks 0 r Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*MI 2,500,000 234,622 2,820 681 474 I Professional Services 0 School Dist.referendum reimb r 763,749 Interest Expense** 0 Transfers Out 2,330 Debt Service-Bonds 23,869,107 11,575,673 1,819,400 1,689,901 3,621 Debt Service-Rev.Notes 558,392 r 0 Debt Service-Other 0 Interfund loans 8,122,981 I Other Expenses 9,098,211 33,710 1 Use for MV tax petition r Annual Expenses 42,181,845 33,42341 1,8Af j�0_,1,69M82 4,095 0 0 33,710 0 0 Annual Increase/Decrease (14,581,845) 0 465,126) (1,690,145) (4,095) 0 0 (33,710) 0 0 1 -- Ending Fund Balance' �0' 1,727,950 37,805 33,710 33,710 33,710 0 0_ 0 *Use of funds in this TIF District are severely limited. After final debt service payments have been made, the TIF District should 2robably be decertified. Net Present Value 411 0.00% 0 'CASH Balance 1,683,319 2,152 33,710 33,710 33,710 0 *Interest Earnings(on Beg of Yr balance) 1.7% 0.0% 0.0% 0.0% 0.0% 0.0% **Interest Expense(on negative fund balance) Actual Actual Actual[ Actual Actual Actual' Administrative Fees-Annual 1.0% 0.2% Administrative Fees-Cumulative Estimated 1.0% 1.0%, 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% Original Market Value 5,218,600 Original Tax Capacity 90,170 Total Market Value 107.717,000 Estimated Tax Capacity 1,905,208 FISCAL DISPARITIES (411,462) , Captured Tax Capacity 1,403,576 Calculated Tax Increment 1,340,317 Variance 20,916 0 0 0 0 0 0 0 Tax Rate 0.95838 Tax Collection Rate 99.64% Inflation 0.00% 0.00% 0.00% 0.00% Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 11 TIF DISTRICT#6 County#E8 TIF DISTRICT 66 Lake Pointe(Medtronic) City Fund 455 Lake Pointe(Medtronic) Redevelopment District - 1211985-12/2025 TOTALS TIF Plan To End Actual Actual Actual Projected Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 0 (589,231) (556,093) (449,242) (445,435) (445,992) (446,555) (447,123) (447,123) Revenues: Inflation TIF#6 OTC adjusted in 2012 Tax Increment(TI) 0.00% 98,950,000 16,998,952 933,829 941,909 717,826 662,956 661,133 661,133 661,133 661,133 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 22,829,451 Loan Proceeds 5,641,933 Other Revenues 46,335 Investment Earnings* 9,900,000 75,355 3,121 5,704 3,234 1,670 1,667 1,664 0 0 Change in FMV of investments 0 Sales/lease proceeds 10,000,000 , 5,600,000 Transfers In 4,876,718 Annual Revenues 118,850,000 56,068,744 936,950 947,613 721,060 664,626 662,800 662,797 661,133 661,133 Expenses Land/building acquisition 12,702,819 11,272,572 Site improvements/prep.cos 12,253,725 1,799,015 Installation of public utilities 3,557,273 1,293,773 Parking facilities 74,349,733 0 • Streets and sidewalks 4,961,294 1 0 Public park facilities 0 Other public improvements 803,750 Admin Fees-City/HRA(TI*% 9,900,000 1,703,232 1,562 8,154 72,230 66,296 66,113 66,113 66,113 66,113 Professional Services 0 - School Dist.referendum reimb 13,228 - Interest Expense**- 6,690 0 2,227 2,230 2,233 0 0 Transfers Out -' 361 - Debt Service-Bonds 48,000,000 25,018,900 - Debt Service-Rev.Notes 14,603,924 902,250 832,607 645,022 596,660 595,020 595,020 595,020 595,020 Debt Service-Other 0 - Interfund loans 0 - Other Expenses 422 _ Annual Expenses 165,724,844 56,515,:..7 9033'(,2 ,.640,762 717,252 665,183 663,363 663,366 661,133 661,133 -, Annual Increase/Decrease (46,874,844 ICEEKEDIE 33 138 106,851 3,807 __(557) (563) 0 0 Ending Fund Balance (447 123) (556,093) (449,242) (445,435) ,992) (447,123) (447,123) ((447,123) ° CASH Balance 556,653 556,284 333,991 333,434 332,871 332,303 *Interest Eamin.s on B,. of Yr balance 0.7% 1.0% 0.6% 0.5% 0.5% 0.5% 0.0% 0.0% **Interest Ex.-nse on ne.ative fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual 10.0% 0.2% 0.9% 10.1% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 11.3% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% .ft.to base OTC in 2012 12,158,000 0 O'einal Market Value Bldg 1 23-30-24-41-0030 4,226,500 4,226,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 O',inal Tax Ca•:: Bldg 2 23-30-24-41-0031 83,780 83,780 326,940 326,940 326,940 326,940 326,940 326,940 Total Market Value Land 23-30-24-41-0034 51,372,900 49,924,000 48,510,200 41,989,100 41,918,700 41,918,700 41,918,700 41,918,700 Estimated Tax Ca•a ' Land 23-30-24-42-0041 1,026,708 997,730 969,454 839,032 837,624 837,624 837,624 837,624 Day Care 23-30-24-42-0042 -_- Ca.tured Tax Ca.a ' , Land 23-30-24.42-0043 942,928 913,950 642,514 512,092 510,684 510,684 510,684 510,684 Calculated Tax Increment 934,112 944,354 721,199 662,956 661,133 661,133 661,133 661,133 Variance 283 2,445 3,373 0 0 0 0 0 Tax Rate --- 0.99423 1.037 1.12652 1.29928 1.29928 1.29928 1.29928 1.29928 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Old PINs --- Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 12 i TIF DISTRICT#6 County#E8 TIF DISTRICT#8 Lake Pointe(Medtronic) City Fund 455 Lake Points(Medtronic) Redevelopment District 1211985-1212025 TOTALS TIF Plan To End Bud!:t 1 of District 2018 2019 2020 2021 2022 2023 2024 2025 Fund Balance 0 (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) Revenues: Inflation Tax Increment(TI) 0.00% 98,950,000 16,998,952 661,133 661,133 661,133 661,133 661,133 661,133 661,133 661,133 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 22,829,451 Loan Proceeds 1 5,641,933 Other Revenues 46,335 Investment Earnings' 9,900,000 75,355 0 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 10,000,000 1 5,600,000 Annual Revenues 118,850,000 4,876,718 Transfers In - 56,068,744 661,133 661,133 661,133 661,133 661,133 661,133 661,133 661,133 Expenses Land/building acquisition 12,702,819 11,272,572 Site improvements/prep.costs 12,253,725 1 1,799,015 Installation of public utilities 3,557,273 1,293,773 Parking facilities 74,349,733 0 Streets and sidewalks 4,961,294 I 0 Public park facilities 0 Other public improvements ! 803,750 Admin Fees-City/HRA(TI'%) 9,900,000 1,703,232 66,113 66,113 66,113 66,113 66,113 66,113 , 66,113 66,113 Professional Services I 0 , School Dist.referendum reimb 13,228 Interest Expense" 6,690 0 0 0 0 0 0 0 0 Transfers Out 361 Debt Service-Bonds I 48,000,000 1 25,018,900 Debt Service-Rev.Notes 14,603,924 595,020 595,020 595,020 595,020 595,020 595,020 595,020 595,020 Debt Service-Other 0 Interfund loans 1 0 Other Expenses 422 Annual Expenses 165,724,844 56,515,:,r 661`133 6. ,133 661,133 661,133 661,133 661,133 661,133 661,133 Annual Increase/Decrease (46,874,844 (447,t23 0 0 0 0 0 0 0 0 Ending Fund Balance (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) 0 -- CASH Balance _-= *Interest Eamin,s on B=! of Yr balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% "Interest 4.-nse on -!=five fund balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative- Estimated 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% O !foal Market Value Bldg 1 23-30-24-41-0030 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 Ori!finalTaxCa.- ' Bid!223-30-24-41-0031 326,940 326,940 326,940 326,940 326,940 326,940 326,940 326,940 Total Market Value Land 23-30-24-41-0034 41,918,700 41,918,700 41,918,700 41,918,700 41,918,700 41,918,700 41,918,700 41,918,700 Estimated Tax Ca.aci Land 23-30-24-42-0041 837,624 837,624 837,624 837,624 837,624 837,624 837,624 837,624 ■- Day Care 23-30-24-42-0042 Ca.tured Tax Ca.ac' i Land 23-30-24-42-0043 510,684 510,684 510,684 510,684 510,684 510,684 510,684 510,684 Calculated Tax Increment 661,133 661,133 661,133 661,133 661,133 661,133 661,133 661,133 Variance 0 0 0 0 0 0 -__-- Tax Rate --_- 1.29928 1.29928 1.29928 1.29928 1.29928 1.29928 1.29928 1.29928 Tax Collection Rate -- 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Old PINs Fridley Cash Flow 2013c.xlsx Prepared by.Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 13 TIF DISTRICT#7 County G3 TIF DISTRICT#7 Winfield-Decertified City Fund 456 Winfield-Decertified Redevelopment District 10/1986-1212012 TOTALS TIF Plan To End Actual Actual Actual Actual Actual Projected-> Bud,et of District 2008 2009 2010 2011 2012 2013 2014 2016 Fund Balance 618,112 120,183 190,393 255,592 193,397 0 0 0 Revenues: Inflation low I Tax Increment(TI) 0.11 2,000,000 1,712,521 72,420 71,309 64,239 75,188 77,223 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 200,000 114,695 9,096 0 1,433 2,134 0 0 0 0 Change in FMV of investments 0 SalesAease proceeds 0 Transfers In 0 Annual Revenues 2,200,000 1,827,216 ' 81,516 71,309 65,672 77,321 77,223 0 0 0 ri ■....■ Expenses - Northstar Station land Land/building acquisition 643,370 608,000 578,000 Site improvements/prep.cost- 497,392 0 Installation of public utilities 87,960 0 Parking facilities 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 200,000 162,886 1,445 1,099 473 139,516 7,713 0 0 0 Professional Services 0 increase admin fees to 10%cumulative School Dist.referendum reimb 0 Total admin fees should be approx 170K Interest Expense** 0 Transfers Out 263,745 262,907 Transfer balance to TIF#18 Debt Service-Bonds 1,843,084 792,196 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 389. Annual Expenses 3,271,806 1,827,216 57*445 1,099 473 139,516 270,620 0 0 0 II Annual Increase/Decrease (1,071,806 0 $ 497,929) 70,210 65,199 (62,195) 193,397) 0 0 0 Ending Fund Balance� 0 111 120,183 190,393 255,592 193,397 0 0 0 0 - 0 ■ -�- ■■ CASH Balance 120,504 190,810 255,592 193,397 0 0 0 0 *Interest Eamin.s on :=. of Yr balance 1.5% 0.0% 0.8% 0.8% 0.0% 0.5% 0.5% 0.5% **Interest .ense on ne_ative fund balance Actual Actual Actual Actual Actual 0.5% 0.5% 0.5% Administrative Fees-Annual 9.5% 2.0% 1.5% 0.7% 185.6% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 1.0% 1.0% 1.0% 9.5% 9.5% 9.5% 9.5% 9.5% O'.inal Market Value - 216,600 216,600 216,600 216,600 216,600 O'!inal Tax Ca.a. 3,582 3,582 3,582 3,582 3,582 Total Market Value 11-30-24-32-0034 3,966,500 3,966,500 3,569,900 3,352,100 3,215,600 Estimated Tax Ca•aci 78,580 78,580 70,648 66,292 63,562 Ca.tured Tax Ca.a..' 74,998 74,998 67,066 62,710 59,980 Calculated Tax Increment 72,790 72,175 72,273 75,387 77,920 Variance 370 867 8,034 200 698 0 0 0 Tax Rate 0.97406 0.96584 1.08153 1.2065 1.3038 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% COMMERCIAL!INDUSTRIAL MV updatec MV updatec MV updatec MV updatec MV updated Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 14 TIF DISTRICT'S County K1 TIF DISTRICT#9 Onan/Murphy Ware City Fund 458 Onan/Murphy Warehouse Redevelopment District 09/1989-12/2015 TOTALS TIF Plan To End Actual Actual Actual Actual Projected--> Bud,et of District 2009 2010 2011 2012 2013 2014 2015 2016 Fund Balance 392,564 772,632 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 Revenues: Inflation Tax Increment(TI) 0.00% 8,000,000 5,071,135 381,392 347,787 352,872 348,740 303,250 285,789 285,789 0 Market Value Homestead Credit(MVHC) 0 IIMIIIIIIMIIIIMIIMMIIMIIIMMII Bond Proceeds 0 Loan Proceeds 1,353 Other Revenues 5,108 Investment Earnings* 800,000 228,385 0 6,316 11,370 9,184 7,967 9,372 10,705 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 1,353 Annual Revenues 8,800,000 5,307,334 381,392 354,103 364,241 357,924 311,217 295,161 296,494 0 ∎_ ri��rr Expenses tion land Land/building acquisition 5,026,000 1,694,094 Site improvements/prep.costa 3,100,000 11,491 Installation of public utilities 1,342,000 0 Parking facilities 0 Streets and sidewalks 435,000 0 Public park facilities 0 0 Other public improvements 0 Adman Fees-City/HRA(T1*% 800,000 506,131 1,324 474 220,163 34,824 30,325 28,579 28,579 0 Professional Services 0 increase admin fees to 10%cumulative School Dist.referendum reimb 0 Total admin fees should be>$500,000 by 2015 Interest Expense** 0 0 0 0 0 0 Transfers Out 931 Debt Service Service-Bonds 16,092,000 0 Debt Service-Rev.Notes 685,181 Debt Service-Other 0 Interfund loans 0 Other Expenses Annual Expenses 26,795,000 2,898,'t:. t,324 474 220,163 34,824 30,325 28,579 28,579 0 Annual increase/Decrease (17,995,. 2,408,•',:, " ••8 353,629 144,078 323,100 280,892 266,582 267,915 0 Ending Fund Balance 2,408,828 772,632 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 2408,828 0 -�=CASH Balance 773,274 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 *Interest Earnings(on Beg of Yr balance) 0.0% 0.8% 1.0% 0.7% 0.5% 0.5% 0.5% 0.0% **Interest Expense(on negative fund balance) Actual Actual Actual Actual 0.5% 0.5% 0.5%, 0.0% Administrative Fees-Annual 10.0% 0.3% 0.1% 62.4% 10.0%, 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 5.2% 4.7% 10.0% 10.0% 10.0% 10.0% 10.0%, 10.0% Est.Original Market Value 2,380,500 2,380,500 2,380,500 2,380,500 2,380,500 2,380,500 2,380,500 Original Tax Capacity 42,722 42,722 42,978 42,978 , 42,909 42,909 42,909 Total Market Value 22,660,050 22,362,700 20,728,400 20,216,637 18,031,100 17,134,784 17,134,784 Estimated Tax Capacity , 445,569 439,747 408,129 397,894 354,241 336,315 336,315 Captured Tax Capacity 402,847 397,025 365,151 354,916 , 311,332 293,406 293,406 Calculated Tax Increment 387,685 386,719 355,672 345,702 303,250 285,789 285,789 Variance 6,293 38,932 2,800 (3,037) 0 0 0 0 Tax Rate 0.96584 0.97756 0.97756 0.97756 0.97756 0.97756 0.97756 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.97756 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 15 ' County TIF DISTRICT#11 L6&L7 TIF DISTRICT#11 University/Osborne City Fund 462 University!Osborne Redevelopment District _ (Special Legislation-TI Available for Northstar Station) 01/1992-12!2018 TOTALS TIF Plan To End Actual Actual Actual Actual Actual Projected-> Bud,et of District 1 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance 300,470 (106,639) (41,315) 27,093 91,393 146,611 193,559 239,085 Revenues: Inflation Tax Increment(TI) 0.00% 1,500,000 1,076,359 51,543 66,940 68,130 64,319 60,501 51,350 49,509 49,509 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings• 150,000 55,079 1 4,072 0 752 1,444 763 733 968 1,195 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 31,881 Annual Revenues 1,650,000 1,163,319 55,615 66,940 68,882 65,763 61,264 52,083 50,477 50,705 p ro■ra ∎ - Expenses Northstar Station land Land/building acquisition 350,000 530,145 403,511 90 Site improvements/prep.cost- 340,000 0 Installation of public utilities 0 Parking facilities 0 Streets and sidewalks 100,000 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA I•% 150,000 129,606 59,213 1,527 474 1,463 6,046 5,135 4,951 4,951 Professional Services 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 Transfers Out 323 Debt Service-Bonds 1,260,000 0 Debt Service-Rev.Notes 79,301 Debt Service-Other 4,643 Interfund loans 0 Other Expenses 787 Annual Expenses 2,200,000 744,:,P = 462,724 1,617 474 1,463 6,046 5,135 4,951 4,951 II Annual Increase!Dec (550,000 41, 514 407,109) 65,323 68,408 64,301 55,218 46,948 45,526 45,754 UEnding Fund Balance 418,514 I (106,639) (41,315) 27,093 91,393 146,611 193,559 239,085 284,839 0 ® _-- CASH Balance 104,654 66,530 134,093 91,393 146,611 193,559 239,085 284,839 •Interest Eamin,s on :>. of Yr balance 1.4% 0.0% 1.1% 1.1% 0.8% 0.5% 0.5% 0.5% ••Interest ,.-nse on n-.ative fund balance Actual Actual Actual Actual Actual 0.5% 0.5% 0.5% Administrative Fees-Annual 12.0% 114.9% 2.3% 0.7% 2.3% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 17.4% 15.7% 14.1% 13.1% 12.8% 12.7% 12.5% 12.4% Est.0'.inal Market Value 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 Ori:inal Tax Ca•aci 26,478 26,478 26,478 26,478 26,478 26,478 26,478 26,478 Total Market Value 11-30-24-22-0026 4,095,200 4,946,800 4,919,900 4,582,900 4,402,000 3,937,400 3,846,400 3,846,400 Estimated Tax Ca•a • 11-30-24-22-0027 80,404 97,436 96,898 90,158 86,540 77,248 75,428 75,428 11-30-24-22-0024 Ca.tuned Tax Ca._« 53,926 70,958 70,420 63,680 60,062 50,770 48,950 48,950 Calculated Tax Increment 51,496 67,220 71,225 64,408 60,748 51,350 49,509 49,509 Variance 47 280 3,095 89 248 0 0 0 Tax Rate 0.95838 0.95075 1.01508 1.01508 1.01508 1.01508 1.01508 1.01508 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate L6 1.01508 L7 1.01508 COMMERCIAL/INDUSTRIAL MV updated MV updated MV updated MV updated MV updated MV updated MV updated Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 16 County TIF DISTRICT#11 L6&L7 TIF DISTRICT#11 Univers /Osborne City Fund 462 University I Osborne Redevelopment District (Special Legislation-TI Available for Northstar Station) 01/1992-12/2018 TOTALS IIIMIIMIIIIMIIIIIIIIIIMIIIIIIMIIMIIIIIIIMMIIIII TIF Plan To End Bud.et of District 2016 2017 2018 2019 2020 2021 2022 2023 Fund Balance 284,839 329,397 373,956 418,514 418,514 418,514 418,514 418,514 Revenues: Inflation Tax Increment(TI) 0.00% 1,500,000 1,076,359 49,509 49,509 49,509 0 0 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 150,000 55,079 0 0 0 0 0 0 0 0 Change in FMV of investments 0 SalesAease proceeds 0 Transfers In 31,881 - 49,509 0 0 0 0 0 Annual Revenues _■- 1,650,000 1,163,319 / 49,509 49,509 ---_... Expenses Land/building acquisition 350,000 530,145 Site improvements/prep.costi 340,000 0 Installation of public utilities 0 Parking facilities 0 Streets and sidewalks 100,000 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(T1*%; 150,000 129,606 4,951 4,951 4,951 0 0 0 0 0 Professional Services 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 0 0 0 0 0 Transfers Out 323 Debt Service-Bonds 1,260,000 0 Debt Service-Rev.Notes 79,301 Debt Service-Other 4,643 Interfund loans 0 Annual Ex Expenses Expenses 2,200,000 744,.�787. 4t. 1 4,051 4,951 0 0 0 0 0 IIIMIIIIIOMIIIIIIIMIIMIMMIIMMMIIIMIIIIIIIIIIIIIIIIII Annual Increase/Decrease (550,000 =: 4 44,558 44,558 44,558 0 0 0 0 0 Ending Fund Balance 41.8514 329,397 373,956 418,514 418,514 418,514 418514 418514 418,514 0 ■■••■ eta CASH Balance Interest Eamin.s one-, of Yr balance 0.0% 0.0% 0.0% '•Interest I.•nse on n=e ative fund balance 0.0% 0.0% 0.0% Administrative Fees-Annual 12.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 12.2% 12.1% 12.0% 12.0% 12.0% 12.0% 12.0% 12.0% Est.O'.inal Market Value 1,398,900 1,398,900 1,398,900 Ori.inal Tax Ca•a. 26,478 26,478 26,478 Total Market Value 11-30-24-22-0026 3,846,400 3,846,400 3,846,400 Estimated Tax Ca•a ' 11-30-24-22-0027 75,428 75,428 75,428 11-30-24-22-0024 Ca•tured Tax Ca.- 48,950 48,950 48,950 Calculated Tax Increment 49,509 49,509 49,509 Variance 0 0 0 0 0 0 0 0 Tax Rate 1.01508 1.01508 1.01508 Tax Collection Rate 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% Certified Tax Rate L6 1.01508 L7 1.01508 COMMERCIAL I INDUSTRIAL Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 17 County TIF DISTRICT 812 L9&M1 --.--TIF DISTRICT 812 McG nn Bakeries City Fund 463 -111-- === Redevelopment District --.--(Special Legislation-TI Available for Northstar Station) TIF To End 03/1992-12/2019 TOTALS , 1 Actual Actual Actual Actual Actual Projected---> Bud,et of District '1 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance ---1 200,343 (103,322) (64,374) (20,019) 9,735 45,694 74,359 99,452 II Revenues: Inflation I�� Tax Increment(T1) 0.00% 2,200,000 1,227,405 • 40,260 40,452 44,357 41,612 39,671 •31,597 27,468 27,468 Market Value Homestead Credit(MVHC) 0 '1_------ Bond Proceeds -- 0 1------- Loan Proceeds _- 0 1------- Other Revenues -- 0 (------- Investment Earnings* 220,000 40,076 'I 2,781 12 471 826 255 228 372 497 Change in FMV of investments 0 1------- SalesAease proceeds 0 1----_-- Transfers In -- 32,112 '•------- Annual Revenues 2,420,000 1,299,593 , 43,041 40,463 44,828 42,438 39,926 31,825 27,840 27,965 ---I� r_r_r_r_.r_r_�r.�� Expenses Northstar Station land Lan improvements/prep. 1,380,000 287,511 287,511 Site improvements/prep.cos - 380,000 213,533 I--- Installation of public utilities 0 1 --- Streets facilities sidewalks-- 0 ,--- === Streets and sidewalks 0 ,--- Public park facilities 0 , --- Other public improvements 0 ',,-- Admin Fees-City/HRA(TI*% 220,000 122,188 11 59,195 1,516 473 12,684 3,967 3,160 2,747 2,747 School D t. Services 0 ,�-School Dist.referendum reimb ---- Interest Expense** 0 I--r-- 0 0 0 Transfers Out -- 180 • ---- Debt Service-Bonds 2,895,000 0 1 ---- Debt Service-Rev.Notes 451,85 0 ---- Debt Service-Other ----- Interfund loans _- 0 I ----_ Other Expenses -- 776 ! • ----- Annual Expenses 5,045,000 1,076,036 I 346,706 1 •16 473 12,684 3,967 3,160 2,747 2,747 MIMI 111111111.111 NOME Annual Increase/Decrease (2,625,000 223 554 1 t 03,665) 38,948 44,355 29,754 35,959 28,665 25,093 25,218 1=11.1 Ending Fund Balance MEEEIM 1 (103,322) (64,374) 20,019) 9,735 45,694 74,359 99,452 124,670 (0)ii�� I CASH Balance ---I 88,970 40,460 83,981 33,735 45,694 74,359 99,452 . 124,670 *Interest Eami •s on : of Yr balance -II 1.4% 0.0% 1.2% 1.0% 0.0% 0.5% 0.5% 0.5% **Interest •-nse on neeative fund balance -a Actual Actual Actual Actual 0.0% 0.5% 0.5% 0.5% Administrative Fees-Annual 10.0%11 147.0% 3.7% 1.1% 30.5% 0.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative- Estimated l 9.7% 9.4% 9.0% 9.9% 9.9% 9.9% 9.9% 10.0% Il Est.Ore inal Market Value --• 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200 Ori.inal Tax Ca.aci ---. 41,254 41,254 41,254 41,254 41,254 41,254 41,254 41,254 Total Market Value 10-30-24-14-0060 I 4,205,700 4,205,700 4205,700 4,075,300 3,982,200 3,525,900 3,339,600 3,339,600 Estimated Tax Ca.a., 11-30-24-23-00261 83,364 83,364 83,364 80,756 78,894 69,768 66,042 66,042 Fiscal Disparities---.------- Ca. ured Tax Ca.a* --• 42,110 42,110 42,110 39,502 37,640 28,514 24,788 24,788 Calculated Tax Increment --U 40,212 39,892 44,761 43,772 41,709 31,597 27,468 27,468 Variance -_-II 48 560 404 2,161 2,038 0 0 0 ---I------- Tax Rate _--I 0.95838 0.95075 1.06679 1.11211 1.11211 1.11211 1.11211 1.11211 Tax Collection Rate ---11 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation ---II-- 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate L9- 1.11211 I------- _- M1- 1.02984 •------- Schedule Pa ent-Max Amount Owed -I 130,238 ------ II COMMERCIAL/INDUSTRIAL MV update.MV update.MV update.MV update.MV updat-.MV updat-.MV updated Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 18 I County TIF DISTRICT#12 L9&M1 I TIF DISTRICT#12 McGlynn Bakeries City Fund 463 McGlynn Bakeries Redevelopment District (Special Legislation-Ti Available for Northstar Station) 03/1992-12/2019 TOTALS TIF Plan To End Budget of District 2016 2017 2018 2019 2020 2021 2022 Fund Balance 124,670 149,391 174,112 198,833 223,554 . 223,554 223,554 Revenues: Inflation Tax Increment(71) 0.00% 2,200,000 1,227,405 27,468 27,468 27,468 27,468 0 0 0 Market Value Homestead Credit(MVHC) 0 , Bond Proceeds 0 Loan Proceeds r 0 Other Revenues 0 Investment Earnings* 220,000 40,076 0 0 0 0 0 0 0 Change in FMV of investments 0 , Sales/lease proceeds 0 Transfers In 32,112 Annual Revenues 2,420,000 1,299,0; 27,468 27,468 27,468 27,468 0 0 0 1 Expenses , Land/building acquisition 1,550,000 287,511 , Site improvements/prep.cost; 380,000 213,533 , Installation of public utilities 0 1 Parking facilities 0 r Streets and sidewalks • , Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%! 220,000 122,188 2,747 2,747 2,747 2,747 i 0 0 0 Professional Services 0 , School Dist.referendum reimb 0 1 Interest Expense** 0 0 0 0 0 0 0 0 Transfers Out 180 Debt Service-Bonds 2,895,000 0 Debt Service-Rev.Notes 451,851 Debt Service-Other 0 Interfund loans 0 Other Expenses 776 Annual Expenses 5,045,000' 1,076,039 2,747 2,747 2,747 2,747 0 0 0 Annual Increase l Decrease (2,625,000), .223,544 , 24,721 ' 24,721 ' 24,721 24,721 0 0 0 Ending Fund Balance 2 ",554 149,391 174,112 198533 223,554 223,554 223554 223554 (0) CASH Balance *Interest Earnings(on Beg of Yr balance) 0.0%1 0.0%' 0.0% 0.0% **Interest Expense(on negative fund balance) 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 10.0% 10.0%' 10.0% 10.0% 10.0% 10.0% 10.0% Est.Original Market Value 2,100,200 2,100,200 '2,100,200 2,100,200 1 Original Tax Capacity 41,254 41,254 41,254 41,254 Total Market Value 10-30-24-14-0060 3,339,600 3,339,600 3,339,600 3,339,600 , Estimated Tax Capacity 11-30-24-23-0026 66,042 66,042 66,042 66,042 Fiscal Disparities Captured Tax Capacity 24,788 24,788 24,788 24,788 Calculated Tax Increment 27,468 27,468 27,468 27,468 Variance 0 0 0 0 0 0 0 Tax Rate 1.11211 1.11211 1.11211 1.11211 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% Certified Tax Rate L9 1.11211 M1 1.02984 Schedule Payment-Max Amount Owed COMMERCIAL/INDUSTRIAL Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17t2013 CITY OF FRIDLEY,MINNESOTA Page 19 TIF DISTRICT 913 County N1 TIF DISTRICT 513 Satellite Lane Apts City Fund 464 Sateilke Lane Apts Redevelopment District (Special Legislation-TI Available for Northstar Station) 06/1995-12/2023 TOTALS _- TIF Plan To End Actual Actual Actual Actual Actual Projected--> Bud,et of District 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance - 400,741 (155,801) (105,049) (51,201) (315) 37,409 73,330 103,809 Inflation Revenues: In TI reduced by impact of MV tarting 2012 Tax Increment(TI) 0.11 1,800,000 958,138 48,478 47,549 49,005 46,031 41,562 39,705 33,458 33,458 Market Value Homestead Credit(MVHC) 43,625 MIMI 4,529 4,722 5,107 Bond Proceeds o Loan Proceeds 432,109 Other Revenues 0 - -_ Investment Eamings* 180,000 57,752 5,218 110 595 1,105 318 187 367 519 Change in FMV of investments 0 Sales/lease proceeds 0 MIME Transfers In 431,070 - -= Annual Revenues 1,980,000 1,922,694 58,018 52,188 54,322 52,243 41,880 39,892 33,825 33,977 9 acquisition r,.�ri Expenses Northstar Station land Land/buildin a uisition 2,500,000 981,698 � 556,000 Site improvements/prep.cost- 525,000 4,781 Installation of public utilities o - Parking facilities 25,000 0 Streets and sidewalks 0 --_ Public park facilities 0 - Other public improvements 0 - Admin Fees-City/HRA(TI*% 180,000 127,615 ; 58,560 1,436 474 1,357 4,156 3,970 3,346 3,346 Professional Services 0 -- School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 Transfers Out 424 . Debt Service-Bonds 4,575,000 0 _ Debt Service-Rev.Notes 0 Debt Service-Other 432,109 Interfund loans 0 I _== Other Expenses 730 ,MMO Annual Expenses * 7,805,000 1,547, 7- 11L+ 1,436 474 1,357 4,156 3,970 3,346 3,346 IIIIMIll IIMMINIIMIMI Annual Increase/Decrease (5,825,000 375,- I ('356 542) 50,752 53,848 50,886 37,724 35,921 30,479 30,631 1.1.111111.1.1.1 I Ending Fund Balance 375,338 I (155,801) (105,049) (51,201) (315) 37,409 73,330 103,809 134,440 (0. *A..roximatel $4.0 million in costs of this TIF District were by TIF �__ CASH Balance 158,531 57,705 110,799 61,685 37,409 73,330 103,809 134,440 *Interest Eamin,s on :-. of Yr balance 1.3% 0.1% 1.0% 1.0% 0.5% 0.5% 0.5% 0.5% **Interest .-nse on n-.ative fund balance Actual Actual Actual Actual Actual 0.5% 0.5% 0.5% Administrative Fees-Annual 13.3% 120.8% 3.0% 1.0% 2.9% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 20.7% 18.8% 17.1% 15.9% 15.4% 15.1% 14.8% 14.6% Est. e .inatMarketValue 233,400 233,400 233,400 233,400 233,400 143,560 143,800 143,800 Ori.inal Tax Ca.a• 2,334 2,334 2,334 2,334 2,334 1,438 1,438 1,438 Total Market Value 5,758,100 5,506,300 5,046,700 4,549,200 4,284,061 3,529,191 2,996,572 2,996,572 Estimated Tax Ca.a ' 57,561 55,063 50,467 45,492 42,841 35,292 29,966 29,966 Ca.tured Tax Ca.. 55,227 52,729 48,133 43,158 40,507 33,854 28,528 28,528 Calculated Tax Increment 52,639 52,062 54,588 50,617 47,507 39,705 33,458 33,458 Variance 161 16 861 522 5,945 0 0 0 Tax Rate 0.95658 0.99092 1.1382 1.17706 1.17706 1.17706 1.17706 1.17706 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified 1.17706 Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 20 TIF DISTRICT#13 County N1 TIF DISTRICT#13 Satellite Lane Apts City Fund 464 Satellite Lane Apts Redevelopment District (Special Legislation-TI Available for Northstar Station) 06/1995-12/2023 TOTALS -__illaMil To End Bud.et of District 2016 2017 2018 2019 2020 2021 2022 2023 Fund Balance == 134,440 164,552 194,665 224,777 254,889 285,001 315,113 345,225 Revenues: Inflation Tax Increment(TI) 0.00% 1,800,000 958,138 33,458 33,458 33,458 33,458 33,458 33,458 33,458 33,458 Market Value Homestead Credit(MVHC) 43,625 Bond Proceeds 0 Loan Proceeds -MM. 432,109 Other Revenues -- 0 Investment Earnings* 180,000 57,752 0 0 0 0 0 0 0 0 Change In FMV of investments 0 evenues 1,980,000 1,922,694 33,458 33,458 33,458 33,458 33,458 33,458 33,458 33,458 Sales/lease proceeds 0 i Annual - Expenses -_ Land/building acquisition 2,500,000 981,698 Site improvements/prep.cost 525,000 4,781 Installation of public utilities -I 0 Parking facilities 25,000 0 Streets and sidewalks 0 Public park facilities 11111.11111 0 Other public improvements 0 Admin Fees-City/HRA(TI"% 180,000 127,615 3,346 3,346 3,348 3,346 3,346 3,346 3,346 3,346 Professional Services '' 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 0 0 0 0 0 Transfers Out -il 424 Debt Service-Bonds 4,575,000 0 Debt Service-Rev.Notes _, 0 Debt Service-Other -, 432,109 Interfund loans -' 0 Other Expenses -' 730 Annual Expenses 7,805,000 3,346 Annual Increase I Decrease 5,825,0001 INEEEL 30.112 30,112 30,112 30,112 30,112 30,112 30,112 30,112 Ending Fund Balance 375,338 164,552 194,665 224,777 254,889 285,001 315,113 345,225 375,338 (0)* * ,..roximatel $4.0 million in costs olmo�� -' of this TIF District were paid by TIF#1 II -1===: CASH Balance *Interest Eami •s on Be. of Yr balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% **Interest 4.-nse on ne.ative fund balance -• 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 13.3% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative- Estimated 14.4% 14.2% 14.0% 13.9% 13.7% 13.6% 13.4% 13.3% Est.0 inal Market Value -- 143,800 143,800 143,800 143,800 143,800 143,800 143,800 143,800 Ori•Ina!Tax Ca•a • --- 1,438 1,438 1,438 1,438 1,438 1,438 1,438 1,438 Total Market Value --- 2,996,572 2,996,572 2,996,572 2,996,572 2,996,572 2,996,572 2,996,572 2,996,572 Estimated Tax Ca•a '-== 29,966 29,966 29,966 29,966 29,966 29,966 29,966 29,966 Ca.turgid Tax Ca•: • -- 28.528 28,528 28,528 28,528 28,528 28,528 28,528 28,528 Calculated Tax Increment -- 33,458 33,458 33,458 33,458 33,458 33,458 33,458 33,458 Variance === 0 0 0 0 0 0 0 0 Tax Rate --- 1.17706 1.17706 1.17706 1.17706 1.17706 1.17706 1.17706 1.17706 Tax Collection Rate --- 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation === 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 1 Fridley Cash Flow 2013c.)lsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd, 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 21 TIF DISTRICT#16 County P8 TIF DISTRICT#16 57th Ave(Linn) City Fund 467 57th Ave(Linn) Redevelopment District 09/1997-12/2024 TOTALS TIF Plan To End Actual Actual Actual Projected-----> Bud!et of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance (124,822) (122,112) (73,257) (48,954) (28,565) (9,256) 10,245 0 Revenues: Inflation Tax Increment(TI) 0.0 1 1,000,000 338,439 29,530 27,887 26,804 22,900 21,473 21,473 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 18,435 Other Revenues 0 Investment Eamings' 100,000 2,306 111 450 177 24 126 223 0 0 Change in FMV of investments 0 Sales/lease proceeds 50,000 50,000 developer payment owed Transfers In 15,935 Annual Revenues 1,100,000 425,114 29,641 78,337 26,982 22,924 21,599 21,695 0 0 ■ vi■IN Expenses Land/building acquisition 655,000 2,002 Site improvements/prep.cost- 175,000 116,859 Installation of public utilities 0 Parking facilities 50,000 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 100,000 59,838 473 4,343 2,678 2,290 2,147 2,147 0 0 Professional Services 0 School Dist.referendum reimb 0 Interest Expense** 434 • 245 143 46 0 0 Transfers Out 26,311 I 10,245 Debt Service-Bonds 1,320,000 0 I Decertify 17F District after Fund balance becomes positive. Debt Service-Rev.Notes 219,270 l 26,458 25,139 Debt Service-Other 0 , =--- Interfund loans 0 , Other Expenses 400 Annual Expenses 2,300,000 425 114 ;� c 2,678 2,535 2,290 2,194 10,245 0 Annual (1,200,000 0)111 2,710 48,855 24,303 20,389 19,309 19,502 (10,245) 0 (0 I Ending Fund Balance , (122,112) (73,257) (48,954 28,565) (9,256) 10,245 0 0 (0)1 _� II_ I CASH Balance -=-i 19,783 50,503 4,806 25,195 44,504 64,006 *Interest Eamin•s on .. of Yr balance 0.6% 2.3% 0.4% 0.5% 0.5% 0.5% 0.0% **Interest Ex.-nse on ne•ative fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.0% Administrative Fees-Annual 17.7% 1.6% 15.6% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative_ Estimated 21.2% 20.6% 19.5% 18.8% 18.2% 17.7% 17.7% 17.7% Est.0*.inal Market Value 426,300 426,300 426,300 426,300 426,300 426,300 O•d final Tax Ca.a; --- 7,301 7,301 7,301 7,301 7,301 7,301 Total Market Value 23-30-24-23-0144 1,741,700 1,626,200 1,584,300 1,412,500 1,351,900 1,351,900 Estimated Tax Ca•a. -Y4-24-2� 33,334 31,024 30,186 26,750 25,538 25,538 Ca•tured Tax Ca•a _- 26,033 23,723 22,885 19,449 18,237 18,237 Calculated Tax Increment -- 29,524 27,932 26,945 22,900 21,473 21,473 Variance === 6 46 141 0 0 0 Tax Rate _-- 1.1382 1.18168 1.18168 1.18168 1.18168 1.18168 Tax Collection Rate _-- 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation === 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 1.18168 COMMERCIAL/INDUSTRIAL MV updatec MV updatec MV updatec MV updatec MV updated Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 22 TIF DISTRICT*17 County R9 TIF DISTRICT*17 Gateway East City Fund 468 Gateway East Redevelopment District 2001-12/2028 MIIIITTAILTI TIF Plan To End Actual Actual Actual Projected----> Bud.et of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance --- (774,318) (734,734) (698,962) (673,559) (652,980) (636,193) (619,238) (599,320) Inflation Revenues: In -- -TI reduced by impact of limited MV starting 2012 Tax Increment(TI) 0.00 2,000,000 688,371 34,927 32,088 28,090 26,574 22,131 22,131 22,131 22,131 Market Value Homestead Credit(MVHC) 42,977 4,653 4,188 Bond Proceeds 0 - Loan Proceeds 0 Other Revenues 26,092 Investment Earnings' 200,000 17,350 478 901 182 30 133 217 0 0 Change in FMV of investments 0 -_ SalesAease proceeds 0 �- Transfers In 0 Annual Revenues _ 2,200,000 774,790 40,058 37,177 28,272 26,605 22,265 22,349 22,131 22,131 - Expenses �- - Land/building acquisition 627,500 602,963 Site improvements/prep.cost- 1,000,000 26,966 -_-_ Installation of public utilities 665,000 264,638 0 i- Parking facilities .. Streets and sidewalks 253,610 0 Public park facilities 0 Other public improvements 0 -� Admin Fees-City/HRA(T1*% 200,000 190,506 474 1,404 2,869 2,657 2,213 2,213 2,213 2,213 Professional Services 40,149 MEM School Dist.referendum reimb 0 111.111111 Interest Expense" 9,81544 '- 3,368 3,265 3,181 0 0 Transfers Out , Debt Service-Bonds 3,819,166 0 II Debt Service-Rev.Notes 0 a Debt Service-Other 0 ll r Interfund loans - 0 ill Other Expenses 0 Annual Expenses 6,565,276 1,135,891 , 1,404 2,869 6,025 5,478 5,394 2213 2,213 Annual increase/Decrease (4,365,276, (361;301 I ,584 35,772 25,403 20,579 16,787 16,955 19,918 19,918 Ending Fund Balance (360,301)MIMEMME ((698,962) (673,559) (652,980) (636,193) (619,238) (599,320) (579,402) Present Value (360,301) Net res - CASH Balance = 89,919 50,692 6,094 26,674 43,460 60,415 •Interest Eami s on :... of Yr balance 0.9% 1.0% 0.4% 0.5% 0.5% 0.5% 0.0% 0.0% "Interest •ense on n-!alive fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual 27.7% 1.4% 4.4% 10.2% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 55.8% 50.3% 46.9% 44.1% 42.1% 40.4% 38.8% 37.3% Est.0'!inal Market Value 504,200 504,200 504,200 346,800 346,800 346,800 346,800 346,800 O',final Tax Ca'acit 5,042 5,042 5,042 3,468 3,468 3,468 3,468 3,468 Total Market Value 4,517,100 4,182,500 4,016,618 3,042,460 2,591,801 2,591,801 2,591,801 2,591,801 Estimated Tax Ca•a' 45,171 41,825 40,166 30,425 25,918 25,918 25,918 25,918 Ca.tured Tax Ca!a. 40,129 36,783 35,124 26,957 22,450 22,450 22,450 22,450 Calculated Tax Increment 39,559 36,261 34,626 26,574 22,131 22,131 22,131 22,131 Variance 21 15 6,536 0 0 0 0 0 _ Tax Rate 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax 0.98937 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 23 • TIF DISTRICT 917 County R9 TIF DISTRICT 917 Gateway East City Fund 468 Gateway East Redevelopment District 2001-12/2028 TOTALS IIIIMIIIMIMIIIMINIMIIII TIF Plan To End Bud,et of District 2018 2019 2020 2021 2022 2023 2024 2025 Fund Balance (579,402) (559,484) (539,565) (519,647) (499.729) (479,811) (459,892) (439,974) Revenues: Inflation Tax Increment(TI) 0.00% 2,000,000 688,371 22,131 22,131 22,131 22,131 22,131 22,131 22,131 22,131 Market Value Homestead Credit(MVHC) 42,977 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 26,092 Investment Earnings* 200,000 17,350 0 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 0 Annual Revenues 2,200,000 774,790 22,131 22,131 22,131 22,131 22,131 22,131 22,131 22,131 `- Expenses �� Land/building acquisition 627,500 602,963 Site improvements/prep.cost- 1,000,000 26,966 Installation of public utilities 665,000 264,638 Parking facilities 0 Streets and sidewalks 253,610 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 200,000 190,506 2,213 2,213 2,213 2,213 School D Dist. Services 40,149 I�- ==�_ School Dist.referendum reimb 0 I Interest Expense** 9,814 I 0 0 0 0 0 0 0 0 Transfers Out 56 I-Debt Service-Bonds 3,819,166 0 ',•�Debt Service-Rev.Notes 0 ,- Debt Service-Other 0 , Interfund loans -- 0 Other Expenses -- 0 I Annual Expenses 6,565,276 IIREEE2 IIIIIMEI 2,213 2,213 2,213 2,213 2,213 2,213 2,213 IIIIIIIIIIIII iEM Annual Increase/Decrease (4,365,276 (360,301 , 19,918 19,918 19,918 19,918 19,918 19,918 19,918 19,918 -I Ending Fund Balance (360,300 (559,484) (539,565) (519,647) (499,729) (47 (459,892) (439,974) (420,056) a _- •il Net Present Value _-- (3 1. - CASH Balance •Interest Eami ,s on . of Yr balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% **Interest Ex.-nse on nes alive fund balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 27.7% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 36.0% 34.9% 33.8% 32.8% 31.9% 31.1% 30.3% 29.6% Est.Ori.anal Market Value -- 346,800 346,800 346,800 346,800 346,800 346,800 346,800 346,800 O'final Tax Ca.11•' --- 3,468 3,468 3,468 3,468 3,468 3,468 3,468 3,468 Total Market Value --- 2,591,801 2,591,801 2,591,801 2,591,801 2,591,801 2,591,801 2,591,801 2,591,801 Estimated Tax Ca.aci-== 25,918 25,918 25,918 25,918 25,918 25,918 25,918 25,918 Ca.tured Tax Ca.a • -- 22,450 22,450 22,450 22,450 22,450 22,450 22,450 22,450 Calculated Tax Increment -- 22,131 22,131 22,131 22,131 22,131 22,131 22,131 22,131 Variance === 0 0 0 0 0 0 Tax Rate -_- 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 Tax Collection Rate _-- 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation === 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 24 TIF DISTRICT#18 County U4 TIF DISTRICT#18 Gateway West City Fund 470 Gateway West Redevelopment District 2005-1212033 ( TOTALS TIF Plan To End Actual Actual Actual Projected--> Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance (1,514,583) (1,505,633) (1,513,136) (1,106,747) (1,014,185) (945,896) (930,214) Revenues: Inflation TI reduced by impact of limited MV starting 2012 jTax Increment(TI) 0.00% 2,000,000 408,405 10,138 7,870 7,035 8,081 8,087 13,423 17,424 20,092 Market Value Homestead Credit(MVHC) 2,318 587 943 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 358,316 Investment Earnings* 20,000 5,034 72 1,412 799 210 817 1,280 0 0 ■ Change in FMV of investments 0 - 4 lots 3 lots 2 lots Sales/lease proceeds 593,471 19,649 120,000 90,000 60,000 Transfers In 262,907 262,907 Transfer from TIF#7 Annual Revenues 2,020,000 1,630,451 10,797 10,225 290,390 128,291 98,904 74,703 17,424 20,092 Expenses , Land/building acquisition 1,800,000 1,854,762 final asphalt mowing Site improvements/prep.costs 300,000 72,398 6,371 4,640 Installation of public utilities 100,000 0 Parking facilities 1 0 Streets and sidewalks 100,000 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 100,000 327,559 1,847 11,358 704 808 809 1,342 1,742 2,009 Professional Services 0 School Dist.referendum reimb 0 Interest Expense** 16,745 6,140 5,534 5,071 0 0 Transfers Out (125) Debt Service-Bonds 1,150,000 0 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 , Annual Expenses 3,550,000 2,271,3,1 441 1x729 5,344 6,949 6,342 6,413 1,742 2,009 Annual Increase/Decrease (1,530,000 (640,887)\,M 3,1 .0 (7,503) 285,046 121,343 92,562 68,289 15,682 18,083 Ending Fund Balance 5640,887) {1,505,633) (1,513,136) (1,228,090) (1,014,185) (945,896) (930,214) (912,131) (0)r-, CASH Balance 13,476 206,972 42,019 163,362 255,924 324,213 *Interest Earnings(on Beg of Yr balance) 1.4% 10.5% 0.4% 0.5% 0.5% 0.5% 0.0% 0.0% **Interest Expense(on negative fund balance) Actual Actual Actual 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual 80.2% 18.2% 144.3% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 1114.2% 882.0% 728.3% 607.4% 521.2% 422.5% 339.8% 277.9% Original Market Value 979,500 979,500 979,500 835,500 835,500 835,500 835,500 835,500 Original Tax Capacity 4,258 4,258 4,258 2,819 2,819 2,819 2,819 2,819 Total Market Value 1,482,400 1,383,400 1,310,664 1,160,400 1,161,075 1,741,075 2,176,075 2,466,075 Estimated Tax CapaGry 14,824 13,834 13,107 11,604 11,611 17,411 21,761 24,661 Captured Tax Capacity 10,566 9,576 8,849 8,785 8,792 14,592 18,942 21,842 Calculated Tax Increment 9,720 8,809 8,140 8,081 8,087 13,423 17,424 20,092 Variance (1,005) (4) 1,105 0 0 0 0 0 Tax Rate 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.92322 _ Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 25 I I I TIF DISTRICT 818 County U4 TIF DISTRICT 818 Gateway West City Fund 470 Gateway West Redevelopment District 2005-12/2033 TOTALS TIF Plan To End Budget of District 2018 2019 2020 2021 2022 2023 2024 Fund Balance (912,131) (894,048) (875,965) (857,882) (839,799) (821,716) (803,633) Revenues: Inflation Tax Increment(TI) 0.00% 2,000,000 408,405 20,092 20,092 20,092 20,092 20,092 20,092 20,092 Market Value Homestead Credit(MVHC) 2,318 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 358,316 Investment Earnings' 20,000 5,034 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 593,471 Transfers In 262,907 Annual Revenues 2,020,000 1,630,451 20,092 20,092 20,092 20,092 20,092 20,092 20,092 Expenses II Land/building acquisition 1,800,000 1,854,762 I Site improvements/prep.cos 300,000 72,398 Installation of public utilities 100,000 0 Parking facilities I 0 Streets and sidewalks 100,000 0 Public park facilities 0 •Other public improvements 0 •Admin Fees-City/HRA(TI*% 100,000 327,559 2,009 2,009 2,009 2,009 2,009 2,009 2,009 IProfessional Services 0 School Dist.referendum reimb 0 Interest Expense'• 16,745 0 0 0 0 0 0 0 Transfers Out (125), Debt Service-Bonds 1,150,000 0 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 3,550,000 2,271,338 08 2,009 2,009 2,009 2,009 2,009 2,009 Annual Increase/Decrease (1,530,000) (840,887) 18,083 18,083 18,083 18,083 18,083 18,083 18,083 Ending Fund Balance (640,0 87)I (894,048) (875,965) -__ ) (857,882) (839,799) (821,716) (803,633) (785,550) (0) CASH Balance *Interest Eamings(on Beg of Yr balance) 0.0%, 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Interest Expense(on negative fund balance) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 80.2% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 235.6% 204.8% 181.4% 163.0% 148.2% 136.0% 125.8% Original Market Value 835,500 835,500 835,500 835,500 835,500 835,500 835,500 Original Tax Capacity 2,819 2,819 2,819 2,819 2,819 2,819 2,819 Total Market Value 2,466,075 2,466,075 2,466,075 2,466,075 2,466,075 2,466,075 2,466,075 Estimated Tax Capacity 24,661 24,661 24,661 24,661 24,661 24,661 24,661 Captured Tax Capacity 21,842 21,842 21,842 21,842 21,842 21,842 21,842 Calculated Tax Increment 20,092 20,092 20,092 20,092 20,092 20,092 20,092 Variance 0 0 0 0 0 0 Tax Rate 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.92322 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 26 1 TIF DISTRICT 819 County U8 TIF DISTRICT 819 5110 Main St NE(Ind City Fund 472 5110 Main St NE(Ind Eq) Redevelopment District 2007-12/2034 1 TOTALS ; TIF Plan To End Actual Actual Actual Projected----> Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 2018 Fund Balance 27,541 (18,138) (4,012) (3,395) (3,171) (2,945) (2,717) (2,717) (2,717) Revenues: Inflation Tax Increment(TI) 0.00% 5,000,000 1,283,323 132,854 119,153 114,687 103,668 97,247 97,247 97,247 97247 97247 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 50,000 5,668 ' 482 3,794 521 241 242 243 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 . Transfers In 0 Annual Revenues 5,050,000 1,288,991 133,336 122,947 115,208 103,909 97,489 97,490 97,247 97,247 97,247 _ Expenses . Land/building acquisition 600,000 0 Site improvements/prep.cost 900,000 0 Installation of public utilities 0 1 Parking facilities 550,000 i 0 Streets and sidewalks 0 5yr rule extended to 10 yrs for this TIF District Public park facilities 0 District could-stay open beyond 2019 for eligible Other public improvements 0 costs incurred or committed to by 2016 Admin Fees-City/HRA(TI*%] 500,000 137,217 863 1,584 11,459 10,367 9,725 9,725 9,725 9,725 9,725 Professional Services 71 0 School Dist.referendum reimb 0 Interest Expense** 48 17 16 15 0 0 0 Transfers Out I 0 Debt Service-Bonds 2,500,000 0 Debt Service-Rev.Notes 1,154,444 178,152 107,238 103,132 93,301 87,523 87,523 87,523 87,523 87,523 Debt Service-Other 0 Interlund loans 0 • Other Expenses 0 Annual Expenses 5,050,000 1,291,708 179,015 i108,822�,, 114,591 103,685 97263 97262 97,247 97247 97247 y Annual Increase/Decrease 0 (2,717)i (45,679) 14,126 617 224 226 228 0 0 0 Ending Fund Balance ' (2,717) (18,138) (4,012) (3,395) (3,171) (2,945) (2,717) (2,717) (2,717) (2,717) (0)1_ CASH Balance 85,980 114,296 48,142 48,365 48,591 48,820 *Interest Earnings(on Beg of Yr balance) 0.7% 4.4% 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% 0.0% **Interest Expense(on negative fund balance) Actual Actual 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% 0.0% Administrative Fees-Annual 10.7% 0.6% 1.3% 0.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 17.3% 12.3% 11.8% 11.5% 11.3% 11.1% 11.0% 10.9% 10.8% Original Market Value 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 Original Tax Capacity 45,628 45,628 45,628 45,628 45,628 45,628 45,628 45,628 45,628 Total Market Value 27-30-24-14-0006 10,029,700 9,244,200 9,010,900 8,333,200 7,960,700 7,960,700 7,960,700 7,960,700 7,960,700 Estimated Tax Capacity 199,844 184,134 179,468 165,914 158,464 158,464 158,464 158,464 158,464 Captured Tax Capacity( 154,216 138,506 133,840 120,286 112,836 112,836 112,836 112,836 112,836 Calculated Tax Increment 132,910 119,371 115,349 103,668 97,247 97,247 97,247 97,247 97,247 Variance 56 218 . 662 0_ 0 0 0 0 0 Tax Rate 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.86496 est MV was 14,538,240 COMMERCIAL/INDUSTRIAL UPDATED(UPDATED UPDATED UPDATED UPDATED Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 27 TIF DISTRICT#19 County U8 TIF DISTRICT#19 5110 Main St NE(Ind City Fund 472 5110 Main St NE(Ind Eq) Redevelopment District 2007-1212034 TO' TIF Plan To End Budget ' of District ' 2019 2020 2021 2022 2023 2024 2025 Fund Balance (2,717) (2,717) (2,717) (2,717) (2,717) (2,717) (2,717) If no further expenses are incurred Revenues: Inflation TIF district should be decertified Tax Increment(TI) 0.00% 5,000,000 1,283,323 97,247 97,247 I 0 i 0 ' 0 0 0 Market Value Homestead Credit(MVHC) ' 0 ' 'after final revenue note payment. Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0' ' Investment Earnings* 50,000 5,668 0 0 0 0 0 0 0 Change in FMV of investments 0 SalesAease proceeds 0' ' Transfers In 0 Annual Revenues 5,050,000 1,288,991 97,247 97,247 0 0 0 0 0 1 - it --1 Expenses Land/building acquisition 600,000 0 Site improvements/prep.costs 900,000 0 1 ' Installation of public utilities 0' ' Parking facilities 550,000 0 Streets and sidewalks 0 Public park facilities 0 , Other public improvements ■ 0' ' Admin Fees-City/HRA(TI•%; 500,000' 137,217 ' 9,725 9,725 0 0 0 0 ' 0 Professional Services 0 School Dist.referendum reimb 0 Interest Expense** 48 0 0 0 0 0 0 0 Transfers Out 0 , Debt Service-Bonds 2,500,000' 0 Debt Service-Rev.Notes 1,154,444 87,523 87,523 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 5,050,000 1,708 97,247 97,247 0 0 0 0 0 -4 Annual Increase/Decrease 0 , (2,71? 0 0 0 0 0 0 0 Ending Fund Balance �� (0) (2,717) (2,717) (2,717) (2,717) (2,717) (2,717) (2,717) , ■ 1 CASH Balance •Interest Earnings(on Beg of Yr balance) 0.0% 0.0% Interest Expense(on negative fund balance) 0.0% 0.0% Administrative Fees-Annual 10.7% 10.0% 10.0%, Administrative inistrative Fees-Cumulative Estimated , 10.7%, 10.7% 10.7% 10.7%, 10.7% 10.7% 10.7% Original Market Value 2,318,900 2,318,900 ,Original Tax Capacity 45,628, 45,628 , Total Market Value 27-30-24-14-0006 7,960,700 7,960,700 I Estimated Tax Capacity 158,464 158,464 ' , Captured Tax Capacity 112,836 112,836 , Calculated Tax Increment 97,247 97,247 Variance 0 #VALUE! 0 0 , 0 Tax Rate 0.86496 0.86496 Tax Collection Rate 99.64% 99.64% Inflation 0.00% 0.00%, Certified Tax Rate 0.86496 COMMERCIAL/INDUSTR a J Fridley Cash Flow 2013cxlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 28 TIF DISTRICT#20 County TIF DISTRICT#20 BAE Site(RER) City Fund — BAE Site(RER) Redevelopment District 2012- TOTALS TIF Plan To End Actual Actual Projected—> Bud!et of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 0 0 0 0 0 0 0 0 Revenues: MMEM Tax Increment(TI) 0.00% 0 0 0 0 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 0 Annual Revenues 0 0 0 0 0 0 0 0 0 0 Expenses Land/building acquisition 0 Site improvements/prep.costs 0 Installation of public utilities 0 Parking facilities 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%) 0 0 0 0 0 0 0 Professional Services 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 0 0 0 Transfers Out 0 Debt Service-Bonds 0 Debt Service-Rev.Notes 0 0 0 0 0 0 0 Debt Service-Other 0 Interfund loans 0 Annher Expenses 0 al Expenses 0 0 0 0 0 0 0 0 – 0 0 Annual Increase/Decrease 0 0 0 0 0 0 0 0 0 0 IIIINIIIIIIIIMIIIIIIIIIIIIIMIIIIIIII Ending Fund Balance • 0 0 0 0 0 0 0 0 0SEIM —■merurrsaasewesim■•ate IIIIIIIIII CASH Balance ---- *Interest Eami •s on :-, of Yr balance -- 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% **Interest Ex.-nse on n-eative fund balance 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual #DIV/0! 0.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative— Estimated On,inal Market Value 0 0 0 0 0 0 O'einal Tax Ca,a« --- 0 0 0 0 0 Total Market Value — _— 0 0 0 0 0 0 Estimated Tax Ca.a. 0 0 0 0 0 0 _-- Ca.tured Tax Ca•aci 0 0 0 0 0 0 Calculated Tax Increment 0 0 0 0 0 0 Variance ---- 0 0 0 0 0 0 —�=--- Tax Rate 1.12652 1.29928 1.29928 1.29928 1.29928 1.29928 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation ---- 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate -- 1.29928 —_ --- Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 29 TIF DISTRICT#21 TIF DISTRICT#21 Gateway Northeast City Fund 474 Gateway Northeast Redevelopment District 2012- -- TOTALS TIF Plan To End Actual Actual Actual Pro ected-----a Bud,et of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 0 (1,122,024) #d###414404* ## # (1,158,987) Revenues: Inflation Tax Increment(TI) 0.00%1 0 0 0 0 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds I 0 Loan Proceeds 1 0 Other Revenues 0 Investment Earnings* 1 10,717 3,038 2,140 979 1,520 1,520 1,520 0 0 Change in FMV of investments 0 SalesAease proceeds 0 Transfers In 1 0 Annual Revenues -- 0 10,717 3,038 2,140 979 1,520 1,520 1,520 0 0 1, Expenses -p Land/building acquisition 1,147,899 1,005,874 121,328 20,697 Site improvements/prep.costs 4,548 4,548 Installation of public utilities 0 mowing Parking facilities 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%) 0 0 0 0 0 0 Professional Services 0 School Dist.referendum reimb 0 Interest Expense** 17,258 5,731 5,753 5,774 0 0 Transfers Out Ellini= 0 Debt Service-Bonds 0 Debt Service-Rev.Notes 0 0 0 0 0 0 Debt Service-Other Interfund loans -= 0 Other Expenses =- 0 Annual Expenses 0 1,169,71 1,00 , 4 12 "8 25,245 5,731 5,753 5,774 0 0 Annual Increase/Decrease 0 1,158,957 (1002,836) (11r (24,266) (4,211) (4,232) (4,253) 0 0 Ending Fund Balance (1,158,987) (1,002,836) #4/44/444144 (1,146,290) #4141414414#14 1#144414#144#414141414144# (1,158,987) 0 CASH Balance 447,164 327,977 304,035 304,035 304,035 304,035 *Interest Earnings(on Beg of Yr balance) 0.5% 0.5% 0.3% 0.5%, 0.5% 0.5% 0.0% 0.0% *"Interest Expense(on negative fund balance) Actual Actual Actual, 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual *DIV/0! 10.0% 10.0%, 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated Original Market Value 0 0 0, 0 0 0 Original Tax Capacity 0 0 0 0 0 0 Total Market Value 37,500 37,500 37,500 37,500 37,500 37,500 37,500 37,500 Estimated Tax Capacity 0 0 0 0, 0 0 0 0 Captured Tax Capacity 0 0 0 0 Calculated Tax Increment 0 0 0 0 0 0 0 0 0 0 0 0 Variance 0 0 0 0 0 0 0 0 Tax Rate 0 0 0 0 0 0 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.00000 COMMERCIAL/INkaSTRIAL Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 30 1 Housing Replacement County 04,05,06,Q2,Q3,Q4,S3,S4,S5,S6,T7Housing Replacement Housing F Program City Fund 501 Program Program Housing District 7118/1996-12/2022 TOTALS (15 year max Tl per parcel) TIF Plan Through Actual Actual Actual Projected---> (100 maximum#of parcels) Budget 2025 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Fund Balance 304,247 132,067 (9,561) 172,257 195,150 211,002 226,934 238,811 250,688 256,555 Revenues: Inflation TI reduced by impact of limited MV starting 2012 Tax Increment(TI) 0.00% 438,421 405,707 28,020 27,481 26,395 21,146 13,197 13,197 13,197 13,197 6,519 6,519 Market Value Homestead Credit(MVHC) 23,299 2,695 2,850 Bond Proceeds 0 Loan Proceeds 724,445 Other Revenues 768,750 4,187 Investment Earnings* 81,688 890 965 4,372 3,861 3,976 4,055 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 670,779 143,034 268,849 Transfers In 2,123,130 860,455 Annual Revenues 3,330,3012,770,560 31,605 174,330 299,617 25,007 17,172 17,2521 13,197 13,197 6,519 6,519 • Expenses . Land/building acquisition 2,250,000 1,242,326 146,421 221,486 104,509 , Site improvements/prep.costs 575,000 173,373 6,788 Installation of public utilities 125,000 0 ' mowing Parking facilities 1 0 Streets and sidewalks 0 , Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%; 125,000 343,507 57,364 94,472 6,502 2;115 1,320 1,320 1,320 1,320 1 652 652 Professional Services 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 , 0 0 0 0 (Transfers Out 724,805 ' Debt Service-Bonds 0 (Debt Service-Rev.Notes 0 Debt Service-Other 0 ' Interfund loans 0 Other Expenses 3,006 Annual Expenses 3,075,000 2,487,016 =-:,20378 '_.,. ..,;,, , 117,799 2,115 1,320 1,320 1,320 1,320 652 652 I Annual Increase/Decrease 255,301 283,544' 172,180 141,628) 181,818 22,893 15,853 15,932 11,877 11,877 5,867 5,867 Ending Fund Balance 83,544 1. 067 (9,561) 172,257 195,150 211,002 226,934 262,422 IM 0 1 1,121 CASH Balance 159,796 590,922 772,257 795,150 811,003 826 ' *Interest Earnings(on Beg of Yr balance) 0.3% 0.0% 0.0% 0.5% ' ' '' 0.0% 0.0% 0.0% 1 **Interest Expense(on negative fund balance) Actual 0.0%' 0.0% 0.5% 0.0% 0.0% 0.0% Administrative Fees-Annual 84.7% 204.7% 0.0% 0.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 95.9% 121.2% 112.6%1 105.7% 101.9% 98.4% 95.1% 92.1% 90.6% 89.3% 1 Est.Original Market Value 552,800 552,800 552,800 , 402,900 253,700 253,700 253,700 253,700 64,000 64,000 Original Tax Capacity 5,528 5,528 5,528 4,029 2,537 2,537 , 2,537 2,537 640 ' 640 Total Market Value 3,515,200 3,265,100 2,771,896 1,863,955 1,185,497 1,165,497 1,165,497 1,165,497 514,397 514,397 Estimated Tax Capacity 35,152 32,651 27,719 18,640 11,655 11,655 11,655 11,655 5,144 5,144 Captured Tax Capacity 29,624 27,123 22,191 14,611 9,118 9,118 9,118 9,118 4,504 4,504 Calculated Tax Increment 32,078 32,277 28,231 21,146 13,197 13,197 13,197 13,197 6,519 6,519 Variance ' 1,363 1,946 1,836 0 0 I Tax Rate Avera!e 1.08674 1.19431 1.27678 1.45255 ' 1.45255 1.45255 1.45255 1.45255 1.45255 1.45255 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64%1 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% I 1 Certified Tax Rate •1 1.17662 , 05 1.13880 06 1.25065 - Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 31 Housin. Replacement County 04,05,06,Q2,Q3,Q4,S3,S4,S5,S6,77teplacement ---� Pro.ram City Fund 501 -I------ Housing District -,------ 7/18/1996-1212022 -- TOTALS '------ (15 year max TI per parcel) TIF Plan Through 1------ (100 maximum#of parcels) Bud!et 2025 I 2020 2021 2022 2023 2024 2025 2026 Fund Balance I 262,422 268,289 274,156 279,372 283,544 283,544 283,544 I Revenues: Inflation --'I__---- Tax Increment(TI) 0.00% 438,421 405,707 I 6,519 6,519 5,795 4,636 0 0 0 Market Value Homestead Credit(MVHC) 23,299 I Bond Proceeds -- 0 I Loan Proceeds _- 724,445 (------ Other Revenues 768,750 4,187 (------ Investment Earnings* 81,688 I 0 0 0 0 0 0 0 Change in FMV of investments 0 ''----_- Sales/lease proceeds 670,779 I Transfers In __ 2,123,130 860,455 'I------ Annual Revenues 3,330,301 2,770,560 ' 6,519 6,519 5,795 4,636 0 0 0 Expenses ---t------ Land/building acquisition 2,250,000 1,242,326 1------ Site improvements/prep.cos 575,000 173,373 (------ Parki Installation ga of public utilities 125,000 0 I-- --= Parking facilities -- 0 ' Streets and sidewalks 0 ,=�- -- Public ublic park facilities 0 Other public improvements 0 , Admin Fees-City/HRA(TI*% 125,000 343,507 '�= 580 464 0 School Dst. Services 0 =-- School Dist.referendum reimb p 1 Interest Expense** 0 '1 0 0 0 0 0 0 0 Transfers Out -- 724,805 1 - Debt Service-Bonds 0 ' ��--- Debt Service-Rev.Notes 0 I, _--- Debt Service-Other 0 11 _--- Interfund loans -- 0 IIIIIIIIIII ---- Other Expenses 3,006 I_1 ---- Annual Expenses 3,075,000 ,487,0 : X52 652 580 464 0 0 0 MEM Inn. Annual increase/Decrease 255,30Y IlEagE4,711 5,867 5,867 5,216 4,173 0 0 0 1111.11111 i �� Ending Fund Balance IIMIL,M3 268,289 274,156 279,372 283,544 283,544 283,544 2.83,544 0 1 I �� aaaaiaslt®imam,■o■----- I II -�-- 1,121 1_----- CASH Balance ---'-_--_- •Interest Eami •s on Be. of Yr balance -1 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% **Interest I.-nse on ..ative fund balance _1 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 84.7%1 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 1 I 87.9% 86.6% 85.5% 84.7% 84.7% 84.7% 84.7% Est.0 inal Market Value---, C4 000 64000 0 0 0 0 0 Oriranal Tax Ca.a • ---' 640 640 0 0 0 0 0 Total Market Value ---, 514,397 514,397 320,339 320,339 0 0 Estimated Tax Ca.a.. -_-, I 5,144 5,144 4,004 3,203 0 0 0 Ca.tured Tax Ca.-ci -1 4,504 4,504 4,004 3,203 0 0 0 Calculated Tax Increment---, 6,519 6,519 5,795 4,636 0 0 0 Variance ---I----_- Tax Rate =--, 1.45255 1.45255 1.452552 1.452552 1.452552 1.452552 1.452552 Tax Collection Rate ---' 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation _- ' 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 04 1.17662 1------ 05- 1.13880 1--_-_- 06 1.25065 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 32 HRA --I-HRA ------ Revolving Loan Fun•City Fund 265 I-Revolving Loan Fund _---- (Special Revenue Fund) -I-------- - TOTALS ,-------- _-- Throu•h 'I Actual Actual Actual Pro ected --- _ 2025 I 2010 2011 2012 2013 2014 2015 2016 2017 2018 Fund Balance _-I 4,120,629 3,892,374 3,859,019 3,909,535 4,156,183 4,204,064 4,252,184 4,284,562 4,316,940 III Revenues: Inflation -,I-------- Tax Levy 0.00% 1,880,242 N-------_ Market Value Homestead C - 0 1-------- Property taxes 0 I Rental 34,558 '1---- --- Mortgage interest earnings 1,568,062 1 50,778 47,073 45,021 45,021 45,021 45,021 45,021 45,021 45,021 Investment Earnings* 1,065,040 1 16,126 26,773 18,138 14,270 15,503 15,742 0 0 0 Miscellaneous H&G show 634,391 I 21,085 22,870 18,544 18,544 18,544 18,544 18,544 18,544 18,544 Sales/lease proceeds 263,591 I-- 4111910 Homalihrdel demo Transfers In 6,591,712 I 0 0 0 0 0 0 0 0 0 Annual Revenues - 12,035,597 , 87,989 96,717 81,703 277,835 79,068 79,308 63,565 63,565 63,565 ■•∎ilms inin =--- Expenses --( Capital outlay 353,823 I 209,802 Home remodel demo Site improvements/prep.cost 0 I-- ---- Installation of public utilities 0 ,1-i IIIIIIII ---- Parking facilities 0 -- ---- Streets and sidewalks 0 /-- ---- Public park facilities 0 1- ----- Other public improvements IIIIIIImmem----- Admin Fees-City/HRA(TI 0 1 ---- - Personal services 276,305 estimate estimate estimate estimate estimate estimate Supplies&other charges 1,556,805 ',1 106,442 130.07 31,187 31,187 31,187 31,187 31,187 31,187 31,187 Interest Expense* n City Loan 407,189 ( - ----- Transfers Out 4,783,319 11111111111 ------ Principal Payment - 0 ( --_--- Interest Expense 0 I ------ Debt Service-City Loan 621,734-I Done - ----- Interfund loans 0 I Other Expenses (539,542), Done ------- Annual Expenses 7,459,633 , 313244 130,072 31,187 31,187 31,187 31,187 31,187 31,187 31,187 --I-_------- Annual In 4,5 , ------- (228,255) (33,355) 50,516 246,648 47,881 48,120 32,378 32,378 32,378_ I Ending Fund Balan 4,57 5,964 , 3,892•74 3,889,019 3,909,535 4,156,183 4,204,064 4,252,184 4,284,562 4,316,940 4,349,318 0 ■�� *If all funds are not the could I-------- ar_ar•ea•meariar■a■•■•••■∎∎∎•■•■=■ be returned to HRA General Fund I-------- I_------- CASH Balance --II 2,845,956 2,801,309 2,853,960 3,100,608 3,148,489 3,196,609 0 - *Interest Eami •s on :-• of Yr balance II 0.5% 0.0% 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% 0.0% **Interest 4..nse on -•ative fund balance II Actual 0.0% 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% 0.0% Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 33 HRA HRA General Fund City Fund 100 General Fund TOTALS Through Actual Actual Actual Projected---> 2025 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance ' 6,786,388 7,146,955 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 ■ Revenues: Inflation Tax Increment(TI) 0.00 0 Market Value Homestead C - 0 Bond Proceeds 0 Loan Proceeds 0 ' Other Revenues 13,219,748 509,171 867,695 620,527 577,749 572,576 571,697 534,311 534,577 Investment Earnings* 2,644,627 ' 17,955 28,656 21,946 19,009 20,335 21,640 0 0 Change in FMV of investment 0 TIP 06 OTC adj 2013/pct adjusted In 2012 Sales/lease procee Medtroni, 3,069,828 233,170 436,398 144,324 132,591 132,227 132,227 132,227 132,227 Transfers In 12,397,646' furkn.rrandsare,incl Pkg lot Med.Sales pmt increases to 22.22% Annual Revenues 31,331,849 760,296 1,332,748 786,798 729,350 725,138 725,564 666,537 666,804 Land/building acquisition 3,700,867 Site improvements/prep.Installation of public utilities Parking facilities Streets and sidewalks Public park fealties Other public improvements Admin Fees Professional Services School Dist.referendum reim. «. 0 0' 0 0 0 0 0 Interest Expense" 0 Transfers Out 4,774,036 0 0 _ 0 0 0 0 0 0 Debt Service-Bonds 0 0 0 0 0 0 0 0 0 Debt Service-Rev.Notes 0 Debt Service-City Loan 0 Interfund loans 0 Other Expenses 11,764,649 399,729 410,497 464,155 464,155 464,155 464,155 464,155 464,155 Annual Expenses 20,239,552 3°• 29 410,497 464,155 464,155 464,155 464,155 464,155 464,155 Annual Increase/Decrease 11,092, ..,.. •r •; 261,409 202 382 2 02,6_ 49 Ending Fund Balance 9,179,434 9,381,816 9,584,465- ' r.• r. Debt Service Reserve(next yrs Bonds) 0 0 0 0 0 0 0 ' 0 i Ending Fund Balance After Debt Service 7,146,955 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 9,584,465 CASH Balance 2,128,887 2,622,505 3,801,869 4,067,064 4,328,046 4,589,455 0 *Interest Earnings(on Beg of Yr balance) 0.7% 0.0% 0.0% 0.5% 0.5% 0.5% 0.0%, 0.0% *"Interest Expense(on negative fund balance) Actual 0.0% 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% ■ Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 34 TIF Districts&HRA General Fund -I TIF Districts&HRA General Fund Fund Balance Summary -_I Fund Balance Summary ---I TOTALS TIF Plan To End 1 Actual Actual Actual Projected--- Budget of District I 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 0 1 12,301,644 8,617,777 9,669,188 10,797,679 11,836,001 12,652,485 13,447,616 13,818,999 , Revenues: Inflation Tax Increment(TI) 0.00%1 179,505,308 83,270,981 1,742,816 1,736,410 1,488,534 1,271,226 1,219,492 1,224,828 921,568 924,235 Market Value Homestead Credit(MVHC) 240,508 12,657 13,088 0 0 0 0 0 0 Bond Proceeds 22,391,753 34,879,264 0 0 0 0 0 0 0 0 Loan Proceeds 1 0 11,995,469 0 0 0 0 0 0 0 0 Other Revenues 3,468,750 15,768,048 559,949 914,768 665,549 622,771 617,597 616,719 579,332 579,599 Investment Earnings* 17,435,000 5,732,942 61,388 87,674 60,869 49,952 55,397 59,501 0 0 Misc rev/Chg in FMV of inve 0 634,391 21,085 22,870 18,544 18,544 18,544 18,544 18,544 18,544 Lit;e-.-�:aat._.- Medtronic 10,210,000 10,252,277 233,170 629,431 432,822 452,591 222,227 192,227 132,227 132,227 Transfers In 31,519,136 1 40,778,465 0 0 262,907 0 0 0 0 0 Annual Revenues 264,529,947 203,552,345 2,631,065 3,404,241 2,929,225 2,415,083 2,133,257 2,111,818 1,651,670 1,654,604 .III __ _- - - - - - -- -�- Expenses Land/building acquisition 55,805,620 38,211,684 1,362,097 342,814 125,206 0 0 0 0 0 Site improvements/prep.cost: 35,017,284 1 6,664,156 0 6,371 15,976 0 0 0 0 0 Installation of public utilities 6,660,828 1,560,472 0 0 0 0 0 0 0 0 Parking facilities 76,483,909 290,065 0 0 0 0 0 0 0 0 Streets and sidewalks 1 5,932,904 4,050 0 0 0 0 0 0 0 0 Public park facilities 467,202 4,050 0 0 0' 0 0 0 0 0 Other public improvements 0 803,750 0 0 0 0 0 0 0 0 Admin Fees-City/HRA(TI•%' 17,440,000 4,837,311 65,898 498,092 153,146 127,123 121,949 122,483 92,157 92,424 Professional Services 0 391,538 0 0 0 0 0 0 0 0 Supplies&other charges 1 0 ' 4,736,074 106,442 130,072 31,187 31,187 31,187 31,187 31,187 31,187 Interest Expense** 0 458,177 0 0 0 17,729 16,940 16,319 0 0 Transfers Out 2,122,500 12,981,884 1,515,223 0 262,907 0 0 0 10,245 0 Debt Service-Bonds 171,332,945 59,014,364 1,758,683 0 0 0 0 0 0 0 Debt Service-Rev.Notes 13,435,052 17,752,364 1,106,860 004,904 748,154 689,961 682,542 682,542 682,542 682,542 Debt Service-Other 0 6,066,285 0 0 0 0 0 0 0 0 Interfund loans 0 I 10,251,757 0 0 0 0 0 0 0 0 Other Expenses 6,055,000 ' 22,756,3 a. 1 399, 7' 410,07 464,155 510,762 464,155 464,155 464,155 464,155 Annual Expenses 390,753,244 186,784,3 '1 6,3 ;30 1,800,734 1,376,762 1,316,773 1,316,687 1,280,286 1,270,308 Annual Increase/Decrease (126,223,297 - 16,768,'" 1 (3,6. -86;) 1 • . 1 1 :4.1 I : • • • 795,131 371,384 384,296 119,293 Ending Fund Balance 16,768,025 `•,.,617,777 9,669,188 10,797,679 11,836,001 12,652,485 13,447,616 13,818,999 14,203,296 (0) Debt Service Reserve(next yrs Bonds) 0 0 0 0 0 0 0 0 Ending Fund Balance After Debt Service 8,617,777 9,669,188 10,797,679 11,836,001 12,652,485 13,447,616 13,818,999 14,203,296 CASH Balance --- 8,106,540 9,018,617 10,036,934 11,079,467 -- Interest Eami •- on a=• of Yr balance 0.5% 1.1% 0.7% 0.5% 0.5% 0.5% 0.5% 0.5% '•Interest 4•-nse on n-•ative fund balance - Actual Actual Actual 0.5% 0.5% 0.5% 0.5% 0.5% Administrative Fees-Annual 5.8% 3.8% 28.7% 10.3% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 4.4% 5.0% 5.1% 5.2% 5.3% 5.3% 5.4% 5.5% Est.0'•final Market Value -- 15,337,800 15,337,800 27,495,800 26,738,060 26,589,100 26,58 23,782,300 23,782,300 Ori•inalTaxCa.-ci 267,907 268,163 511,323 502,264 500,772 500,772 450,562 450 562 Total Market Value 112,801,400 106,950,800 103,342,575 86,862,706 83,504,529 84,084,529 66,032,845 66,322,845 Estimated Tax Ca•.=.: 2,096 157 1,992,025 1,929,830 1,628,913 1,578,560 1,584,360 1,226,857 1,229,757 Fiscal Disparities-TIF#3 -- 0 0 0 0 0 0 0 0 Ca.ured Tax Ca•=ci 1,828,250 1,723 862 1,418,507 1,126,649 1,077,788 1,083,588 776,295 779,195 Calculated Tax Increment -- 1,807,468 1,758,860 1,508,078 1,271,226 1,219,492 1,224,828 921,568 924,235 Variance --- 51,995 9,361 19,544 0 0 0 0 0 Tax Collection Rate -_- 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation === 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Schedule Payment-Max Amount Owed-TIF#12 0 0 0 0 0 0 0 0 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 35 TIF Districts&HRA General Fund TIF Districts&HRA General Fund Fund Balance Summa= Fund Balance Summary TOTALS _- TIF Plan .' . Bud!et of District 2018 2019 2020 2021 2022 2023 2024 2025 Fund _- 0 14,203,296 14,580,914 14,909,023 15,209,665 15,500,582 15,790,775 16,079,809 16,330,749 Revenues: Inflation -- Tax Increment(TI) 0.00% 179,505,308 83,270,981 917,557 868,048 840,580 743,333 742,610 741,451 703,356 703,356 Market Value Homestead Credit(MVHC) 240,508 0 0 0 0 0 0 0 0 Bond Proceeds 22,391,753 34,879,264 0 0 0 0 0 0 0 0 Loan Proceeds 0 11,995,469 0 0 0 0 0 0 0 0 Other Revenues 3,468,750 15,768,048 578,931 573,980 571,233 561,509 561,436 561,320 557,511 557,511 Investment Earnings* 17,435,000 5,732,942 0 0 0 0 0 0 0 0 Misc rev/Chg in FMV of inve, 0 634,391 18,544 18,544 18,544 18,544 18,544 18,544 18,544 18,544 Sales/lease pr••=s-Medtronic 10,210,000 10,252,277 132,227 132,227 132,227 132,227 132,227 132,227 132,227 132,227 Transfers In 31,519,136 40,778,465 0 0 0 0 0 0 0 0 Annual Revenues -'264,529,947 203,552,345 1,647,259 1,592,798 1,562,584 1,455,612 1,454,816 1,453,541 1,411,638 1,411,63.8 Expenses Land/building acquisition 55,805,620 38,211,684 0 0 0 0 0 0 0 0 Site improvements/prep.cos 35,017,284 6,664,156 0 0 0 0 0 0 0 0 Installation of public utilities 6,660,828 1,560,472 0 0 0 0 0 0 0 0 Parking facilities -', 76,483,909 290,065 0 0 0 0 0 0 0 0 Streets and sidewalks 5,932,904 4,050 0 0 0 0 0 0 0 0 Public park facilities 467,202 4,050 0 0 0 0 0 0 0 0 Other public improvements 0 803,750 0 0 0 0 0 0 0 0 Admin Fees-City/HRA(TI*% 17,440,000 4,837,311 91,756 86,806 84,064 74,333 74,261 74,145 70,336 70,336 Professional Services 0 391,538 0 0 0 0 0 , 0 0 0 Supplies&other charges 0 4,736,074 31,187 31,187 31,187 31,187 31,187 31,187 31,187 31,187 Interest Expense** 0 458,177 0 ; • 0 0 0 0 0 0 0 Transfers Out 2,122,500 12,981,884 0 0 0 0 0 0 0 0 Debt Service-Bonds 1 171,332,945 59,014,364 0 0 0 0 0 0 0 0 Debt Service-Rev.Notes 13,435,052 17,752,364 682,542 0$2,542 682542 595,020 595,020 595,020 595,020 595,020 Debt Service-Other 0 6,066,285 0 0 0 0 0 0 0 0 Interfund loans 0 10,251,757 0` 0 0 0 0 0 0 0 Other Expenses -' 6,055,000 29, 1 464,0 464,165 464,155 464,155 464,155 464,155 464,155 464,155 Annual Expenses - 390,753,244 186,784,3"+ lam'"3 1,261,942 1,164,695 1,164,623 1,164,507 1,160,698 1,160,698 Annual Increase/Decrease (126,223,297) 16,768,w a 18 328,109 300,641 290,917 290,193 289,034 250,940 250,940 Ending Fund Balance a 16,768,025 14,580,914 14,909,023 15,209,665 15,500,582 15,790,775 16,0.79,809 16,330,749 16,581,689 (0) -• Debt Service Reserve(next yrs Bonds) 0 0 0 0 0 0 0 0 Ending Fund Balance After t Service 14,580,914 14,909,023 15,209,665 15,500,582 15,790,775 16,079,809 16,330,749 16,581,689 CASH Balance -__ •Interest Eamin s s on :-•of Yr balance 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% "Interest Ex•=nse on n=•ative fund balance - 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% Administrative Fees-Annual 5.8% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 5.5% 5.6% 5.6% 5.6% 5.7% 5.7% 5.8% 5.8% Est Ori.inal Market Value -- 23,592,600 22,193,700 20,093,500 17,774,600 17,710,600 17,710,600 17,566,800 17,566,800 O".inal TaxCa.-ci --- 448665 422,187 380,933 335,305 334,665 334,665 333,227 333,227 Total Market Value --- 65,671,745 61,825,345 58,485,745 50,487,545 50,293,487 50,293,487 46,976,576 46,976,576 Estimated Tax Ca• _- 1,223,246 1,147,818 1,081,776 923,312 922,173 921,372 888,203 888,203 Fiscal Disparities-TIF#3 -- 0 0 0 0 0 0 0 0 Ca.ured Tax Ca•-. -- 774,581 725,631 700,843 588,007 587,508 586,707 554,976 554,976 Calculated Tax Increment _- 917,557 868,048 840,580 743,333 742,610 741,451 703,356 703,356 Variance --- 0 0 #VALUE! 0 0 0 0 0 Tax Collection Rate - 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation === 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Schedule Payment-Max Amount Owed-TIF#12 0 0 0 0 0 0 0 0 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 FRIDLEY HRA TIF DISTRICTS OVERVIEW 1/2/2013 City Original Current Fund# TIF# Name Type Development Creation Termination Market Value Market Value* Terminated TIF Districts 450 1 Center City Redevelopment Commercial,affordable rental,resid= 1979 2009 , 7,833,600 61,306,238 451 2 Moore Lake Redevelopment 77 residential units 1981 , 2007 2,518,500 43,911,300 452 3 North Area(Univ Ind Park) Redevelopment Commercial_,2 rental pro - - 1982 2008 5,218600 107,717,000 453 4 Johnson/Skywood/Frank Shea Economic Dev Johnson Printing; S ) ;`s d Mall 984 _ 1992 454 5 Paco/Paschke/E Ranch Estate Economic Dev Commercial :4 1992 456 7 Winfield-Decertified Redevelopment 1 commercial de , .amen 1.86 2012 _ 216,600 3,215,600 457 8 Shorewood Rest Economic Dev Shorewood Inn expa ; t ., rovements 1986 _ 1996 459 10 Northco Phase III Economic Dev Commercial 1990 2000 465 14 Industrial Equities(Bus.Ctr) Economic Dev Commer, 1996 2006 536,900 3,933,400 466 15 MN Commercial Railway Economic Dev Commerci 1997 2008 20,563 363,700 Existing TIF Districts 455 6 Lake Pointe(Medtronic) Redevelopme, edt is offi..; •evelopment 1985 2025 4,226,500 41,918,700 458 9 Onan/Murphy Warehouse Redevelo'• : t Mu • , A -reho`- -;other commercial 1989 _ 2015 2,380,500 17,134,784 462 11 University/Osbome Redevelopm- C• 1992 2018 1,398,900 3,846,400 463 12 McGlynn Bakeries Rede - -• en `,mmercial , 1992 2019 2,100,200 3,339,600 464 13 Satellite Lane Apts R-, - •t 3 idential units 1995 2023 233,400 2,996,572 467 16 57th Ave(Linn) ' .evelopm- 1 co ercial development 1997 2016 426,300 1,351,900 468 17 Gateway East velopmen 5 residential units 2001 2028 504,200 2,591,801 470 18 Gateway West Re._. -lopme 6 residential units(upon completion) _ 2005 2033 _ 979,500 1,161,075 472 19 5110 Main St NE(Ind Eq) Rede ' a Industrial Equities commercial bldg , 2007 2020 2,318,900 7,960,700 20 BAE Site(RER) Redeye •- =nt Approx 12 commercial buildings 2012 474 21 Gateway Northeast Redevelopment-Housing? 2012 22 Northstar Transit Station Distri Redevelopment Transit oriented development 2013 $30,913,163 $302,748,769 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich, Butler, Gerlach &Brazil, Ltd. 9/17/2013 FRIDLEY HRA TIF DISTRICTS OVER City Frozen Tax 2013 Tax Fund# TIF# Name Rate Rate Comments Terminated TIF Districts 450 1 Center City 451 2 Moore Lake 452 3 North Area(Univ Ind Park) 453 4 Johnson/Skywood/Frank Shea 454 5 Paco/Paschke/E Ranch Estate 456 7 Winfield-Decertified 457 8 Shorewood Rest 459 10 Northco Phase III 465 14 Industrial Equities(Bus. Ctr) 466 15 MN Commercial Railway Existing TIF Districts 455 6 Lake Pointe(Medtronic) N/A 1.29928 458 9 Onan/Murphy Warehoeme 56 1 1.46841 Frozen Rate less than Current Tax Rate 462 11 University/Osborne . 1.45661 Frozen Rate less than Current Tax Rate 463 12 McGlynn Bakeries... .11211,1.02984 1.45661 Frozen Rate less than Current Tax Rate 464 13 Satellite Lane .17706 1.51333 Frozen Rate less than Current Tax Rate 467 16 57th Ave(4 0)) 8168 1.51333 Frozen Rate less than Current Tax Rate 468 17 Gateway E 0.98937 1.51333 Frozen Rate less than Current Tax Rate 470 18 Gateway West 0.92322 1.51333 Frozen Rate less than Current Tax Rate 472 19 5110 Main St NE OW ail- 0.86496 1.29928 Frozen Rate less than Current Tax Rate 20 BAE Site(RER) 1.29928 1.29928 474 21 Gateway Northeast 22 Northstar Transit Station Distri Fridley Cash Flow 2013c.xlsx Prepared by Sevenich, Butler, Gerlach&Brazil, Ltd. 9/11/2013 Fridley Loan Summary Report CC C'• Activity for Period 8/15/2013 -9/15/2013 Center for Energy and Environment Application packets requested/mailed: This period: 1 Year-to-Date: 30 Residential Advisor Visits: This period: 1 Year-to-Date: 5 Loans currently in process for residents in your City: 0 Closed Loans This period: Year-to-Date: Fridley Units Units Closed End 17,462.87 1 136,045.83 7 Last Resort 0.00 0 9,635.00 2 Total 17,462.87 1 145,680.83 9 Leveraged Funds This period: Units Year-to-Date: Units CEE 2,956.00 1 2,956.00 1 Total 2,956.00 1 2,956.00 1 Types of Improvements Financed YTD #of Projects %of Total Types of Properties Financed YTD # %of Total Single Family Residence 10 100.00 Air Conditioning 1 8.33 Heating System 2 16.67 Insulation 1 8.33 Kitchens 1 8.33 Other Exterior Improvements 1 8.33 Other Interior Improvements 2 16.67 Roof 1 8.33 Siding,Stucco,Exterior Paint 1 8.33 Windows,Doors,Storm Windows,Storn 2 16.67 CCe•' Fridley Loan Detail Report Center for Energy and Environment Activity for Period 8/15/2013 - 9/15/2013 Fridley Property Address Amount Closed Date Improvements Property Type Units Occupancy Closed End i 4111ININM 17,462.87 8/26/2013 Heatin S tem single Family Residence 1 1 W�indows,uoors, Storm Windsor 17,462.87 Total: 17,462.87 *AMI based HUD Income limits for current year at 100% of family size of 4 INFORMATIONAL ITEM ri HRA MEETING OF OCTOBER 3, 2013 MY OF FRIDLEY Date: September 25, 2013 To: Wally Wysopal, City Manager/ Executive HRA Director From: Paul Bolin, Asst. Executive HRA Director Subiect: HRA Fund Balances On an annual basis, strictly for future planning purposes, staff has worked with Attorney Casserly and Development Consultant Greg Johnson in preparing a review of the Authorities various funds. This exercise helps to identify moneys that are available, now and in the near future, for funding redevelopment projects. These cash flow projections are not an accounting tool, rather they are a snap shot of the balances and obligations for each of the HRA's funds. The reports show that the Authority has the capacity to carry-on with existing projects and the ability to take on additional redevelopment projects. The reports are also an excellent tool for tracking the City's TIF Districts and identifying districts that have excess funds, as well as those that have a shortfall. This is good information to have as staff prepares the 2014 Draft Budget. On Thursday night, Greg Johnson will provide a brief overview of the attached cash flow projections. Attorney Casserly, Greg Johnson, Darin Nelson and I will then be available to take questions on the cash flow projections. 8000 Norman Center Drive 7 952.885.5999 MONR4E Suite 1000 F 952.885.5969 MO �ESS Minneapolis,MN 55437-1178 wv�,MMBLaw�Firm.corn BERG James R.Casserly jcasserly@MMBLawF!rm.com Direct 952.885.1296 MEMORANDUM To: City of Fridley Attn: City Manager Paul Bolin, HRA Assistant Executive Director Scott Hickok, Community Development Director Darin Nelson, Finance Director From: Monroe Moxness Berg PA Attn: James R. Casserly, Esq. Sevenich, Butler, Gerlach & Brazil, Ltd. Attn: Greg D. Johnson, CPA Date: September 16, 2013 Re: 2013 HRA Cash Flow Projections Our File No. 9571-39 With the assistance of Greg Johnson, from Sevenich, Butler, Gerlach & Brazil, Ltd., we have updated the development funds and cash flow analysis for the HRA. As of 12-31-2012, the HRA had fund balances in all development accounts of $10.8 million, and cash balances of $10.0 million. The table below provides an overview of these balances: FINAL FINAL Projected 12/31/11 12/31/12 12/31/13 Fund Balances 9.7M 10.8M 11.8M Cash Balances 9.OM 10.0M 11.1 M Using pay 2012 market value and tax rate information obtained from the County, we are projecting that the total 12/31/2013 fund balances will increase by almost $1.OM to $11.8M, assuming no major program expenses. The HRA has created three new TIF Districts over the past year. These are TIF 20 (BAE Site), TIF 21 (Gateway NE) and TIF 22 (Northstar Transit Station District). No tax increment projections, or additional TIF District costs, are currently shown in this analysis for these three districts. Not reflected in the available cash balance are two large assets. First, $1.1M in Mortgage Receivables are recorded in the Housing Loan Program. Over time, the HRA should be able to collect these funds, and have them available for other HRA initiatives. Second, $5.OM has been paid for land acquisitions over the past few years some of which is being held for resale. In future years the HRA can expect to have additional cash available as this land is sold. Our current analysis does not reflect any repayment of the Mortgage Receivables and only$225,000 of land sale proceeds (from TIF #18). 2 There are no G.O. bonds outstanding at this time. This report contains the following schedules on the following pages: 1 - 2 TIF Fund Summary Year End Fund Balances for all TIF Districts (2010-2023) 3 Cash Balances Actual 2010-2012; Projected 2013-2015 4 Assumptions Class Rates, Tax Rates 5 - 6 Revenues Developer loan, Special Assessments, Other 7 - 8 Revenue Notes Payment Due in all TIF Funds 9 - 29 TIF Funds 1 —21 (2010 through 2024) 30 - 31 Housing Replacement Fund (HRF) 32 Revolving Loan Fund (RLF) 33 HRA General Fund 34 - 35 Summary Inc. & Exp Revenue & Expenses -All Funds (TI, HRF,RLF, Gen'I Fd) 36 - 37 Fridley HRA TIF Districts Overview Some issues which need further discussion include the following: 1. TIF 1 & 3 — Approximately $46,000 remains in TIF Districts #1 and #3. Since the bonds have all been retired, there are no other eligible costs to use these funds. Assuming no tax petitions for reducing assessed values are outstanding, which would result in a charge back to these TIF districts by the County, it appears these funds need to be returned to the County. If possible, these funds should be returned to the County by 12-31-2013 so TIF District reporting to the OSA can be finalized with the 2013 TIF District Reports next year. 2. TIF 6 (Medtronic) —As required by the special legislation passed for this TIF District in the Laws of Minnesota for 1999, "the original net tax capacity of tax increment financing No. 6 must be increased by the net tax capacity of 200,000 square feet of building improvements, exclusive of parking structures." This increase is effective with Pay 2012 taxes. Also, the land payment that Medtronic pays to the HRA increases from 11.11% of the tax increment paid to Medtronic, to 22.22% starting with the September 1, 2012 payment. The net impact of this change is that approximately $12.16M of market value (or 243,000 of tax capacity) has become available for all taxing jurisdictions to levy against which will have the effect of reducing tax rates assuming, of course, that all other variables are held constant. 3. TIF 7 (Winfield) — The required decertification date for TIF #7 is 12-31-2012. All remaining funds have been transferred to TIF#18. 4. TIF 9 (Onan) — The fund balance in TIF 9 will grow to almost $2.5M by 12-31-2015. Before this district terminates, a use for these funds must be identified. One possible use it to fund the shortfall in TIF #18 (Gateway West). There is currently a $1.27M shortfall in this district that in never expected to be repaid. We recommend that at least $500,000 be transferred now to TIF #18. We may want to consider additional transfers once full development has been completed in Gateway West and we have a better understanding of the deficiency. The Onan funds should be used for projects in which full recovery, or maybe even no recovery, is expected. We should not make interfund loans from this TIF District because we would have to keep this TIF Fund open until it was repaid— and then it most likely have to be returned to the County. 3 5. TIF 11, 12 & 13 (Northstar Station Area pooling) — Due to special legislation the authority received, TIF Districts 11, 12 & 13 are 100% poolable for costs in the Northstar Station area. By the end of 2013, there will be about $341,000 in available funds from these three TIF Districts and approximately $1.OM by the time these TIF Districts must be decertified, which is 2018, 2019 and 2023 respectively. 6. TIF 20 (BAE Site) —We have not included the anticipated redevelopment of the BAE Site. Once the development agreement is completed and construction commences, we can include this information. The current projections are for the development of approximately 1.45 million sq. feet of bulk warehouse, showroom and office space with a completed assessed value approaching $80 million. 7. TIF 21 (Gateway NE) — The HRA has spent significant resources for property in the Gateway Northeast area. Through redevelopment of this area, the HRA hopes to recover most of its costs through the sale of land and collection of tax increment. 8. TIF 22 (Northstar Transit Station District)—This district was created in early 2013. The district contains 45 parcels with a current assessed value of $86.4M. The TIF projections show new redevelopment occurring over the next 10 years and a completed value of $215M. The first phase will start in 2014 with new development on the old JLT site. 9. Housing Replacement Program (HRP) — Tax increment is only collected for 15 years on properties in the HRP. Phase 1 started in 1998 and the last tax increment for the eight parcels in this phase were decertified at 12-31-2012. Phase 2 started in 1999 with six properties, and these will be decertified at 12-31-2013. Phase 3 started in 2003 and Phase 4 started in 2007. With new legislation recently passed, parcels in Phases 5, 6, 7, 8 & 9 have been added. 10. Revolving Loan Fund (RLF) — Since 12/31/2001, the RLF has ended the year with a cash balance of over $2.0 million. The 12/31/2012 cash balance was $2.8 million. These resources are being used to fund this program and other HRA housing initiatives. 11. Interfund Loans — The HRA General Fund shows a 12/31/2012 fund balance of $8.3M, but only a cash balance of $3.8M. Inter-fund loans of $4.5M have been advanced to cover negative fund balances in the following Districts: TIF#6 (Lake Pointe— Medtronic) 455,303 Expect to be repaid TIF#16 (57th Ave Redevelopment) 53,760 Expect to be repaid TIF#17 (Gateway East) 679,653 Expect to be repaid TIF#18 (Gateway West) 1,270,109 Do not expect all to be repaid TIF#21 (Gateway Northeast) 1,450,000 Expect most of it to be repaid Housing Replacement Program 600,000 Expect to be repaid Total Interfund Loans 4,508.825 * This amount will be adjusted in 2013 to reflect expenses in TIF #21. This adjustment will also change the HRA General Fund balance but not the cash balance. 4 As noted in item 4 above, the negative balance in TIF #18 is unlikely to be fully eliminated, but it is difficult to project the shortfall until the project has been fully built out. 12. TIF 19 —As part of the Ominbus Public Finance Bill of 2009, (see Laws of Minnesota 2009, Chapter 88) passed by the Minnesota Legislature last year, the 5-Year Rule has been extended to 10 years for TIF Districts certified on or after 7-1-2003 and before 4-20-2009. This applies only to redevelopment and renewal and renovation districts. For the City of Fridley, this means that in TIF districts 18 and 19, new expenditures are allowed for up to 10 years after the districts were certified. There is little benefit for TIF #18 (Gateway West) since this district will use all its tax increment to recover costs already advanced. However, in TIF #19 (5110 Main St NE), the HRA may have an opportunity for maximizing the resources of this TIF district for the Northstar Project area or housing programs. Please keep in mind that this Cash Flow Analysis only assists the City and the Authority with its long range planning and in reviewing the solvency of its programs. We have included no project expenses for the years 2013 and thereafter. Subsequent to 2012, we have only included on the expense side those obligations which the HRA is committed to pay plus some administrative and miscellaneous expenses. For revenue projections, we have been most conservative by assuming the following: 1. No inflationary increases in market value. 2. No inflationary increases in the local tax rates. 3. No further construction by Medtronic. 4. Interest earnings on all Fund Balances at 0.5% and only through 2015. We look forward to reviewing this Cash Flow Analysis with you and its underlying assumptions. Enclosures CITY OF FRIDLEY,MINNESOTA Page 1 - HRA SUMMARY Fund Balances 0.0% Inflation Actual Actual Actual Projected Projected Projected Projected Projected C Fund Fund Fund Fund Fund Fund Fund Fund Fund TIF Term of Balance Balance Balancel Balance Balance Balance Balancel Balance # # Description District Type 12/31/10 12131MI 12131112 12131113 12/31/14 12131115 12131116 12131117 100 HRA General Fund non-increment 7,146,955 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 9,584,465 501 Housing Replacement 7/18/1996-1212022 H 132,067 (9,561) 172,257 195,150 211,002 226,934 238,811 250,688 701 Investments (255) Remaining Balance Return to County in 2010 450 1 Center City. Pre 78 DECERTIFIED R1 14,490 12,897 12,8971 0 0 0 0 0 All TI used to pay G.O.TI Bonds 451 2 Moore Lake-Decertified DECERTIFIED R1 0 0 0 0 0 0 0 0 452 3 North Area(Univ Ind Park)- DECERTIFIED R1 33,710 33,710 33,710 0 0 0 0 0 Totals-Pre'82 Districts 33,710 33,710 33,710 0 0 0 0 0 All TI used to pay G.O.TI Bonds Decertify#9 I 453 4 Johnson/Skywood/Frank St DECERTIFIED E 454 5 Paco/Paschke/E Ranch Est DECERTIFIED E 455 6 Lake Pointe Medtronic 12/1 985-12/2025 R 556,093 449,242 445,435 445,992 446,555 447,123 447,123 447,123 456 7 Winfield-Decertified DECERTIFIED R 255,592 193,397 0 0 0 0 0 0 457 8 Shorewood Rest-Decertifi DECERTIFIED E' 0 0 0 0 0 0 0 0 458 9 Onan/Murphy Warehouse 09/1989-12/1015 R 1,126,261 1,270,339 1,593440 1,874,332 2,140,914 2,408,82 2,408,828 2,408,828 459 10 Northco Phase III -Decerth DECERTIFIED E 0 0 0 _ 0 0 0 0 0 Totals-Pro'90 Districts 1 825,760 1,014,495 1,148,005 1,428,340 1,694,359 1,961,706 1,961,706 1,961,706 TIF 11,12,13 avaitallift only for Northstar Transit Station District TIF 11,12,13 462 11 University/Osborne 01/1992-12/2018 R 27,093 91,393 146,811 193,559 239,085 284,839 329,397 373,956 c 463 12 McGlynn Bakeries o3/1992-12/2o19 R 20,019 9,735 45,694 74,359 99,452 124,670 149,391 174,112 464 13 Satellite Lane Apts 06/1995-12/2023 R 51,201 315 37409 73,330 103,809 134,440 164,552 1 194,665 465 14 Industrial Equities(Bus.Ctr DECERTIFIED E 0 0 0 0 0 0 0 1 0 466 15 MN Commercial Raitway-Df DECERTIFIED E 0 0 0 0 0 0 01 0 467 16 57th Ave Linn 09/1997-12/2024 R 122,112 73,257 48,954 28,565 9,256 10,245 0 0 468 17 Gateway East 2001-12r2o28 R 34,734 698,962 673,559 652,980 636,193 619,238 599,320 579,402 470 18 Gateway West 2005-12/1033 R 1,505,633 1513136 1,228,090 1,106,747 1,014,185 945,896 930,214 912,131 472 19 5110 Main St NE Ind E 2007-1212034 R 18,138 4,012 3,395 3,171 2,945 2,717 2,717 2,717 20 BAE Site(RER) 2012- R 0 0 0 0 0 0 0 474 21 Gateway Northeast 2012- R 1002,636 1,122,024 1,146,290 1,150,501 1,154,734 1.158,987 1158,987 1,158,987 22 Northstar Transit Station District R Totals-Post'90 Districts (3,427,580) (3,310,578) (2,870,574) (2,600,716) (2,374,967) (2,172,643) (2,047,897) (1,910,504) Totals-TIF Districts 1-19 (2,653,620) (2,249,476) (1,675,961) (1,172,375) (680,607) (210,938) (86,191) 51,202 Total FUND Balance-All TIF Districts&HRA Gen'I Fund 4725,403 51809,915 6,888,144 7,679,818 8,448,421 9,195 431 9,534,437 9,886 355 2651 Revolving Loan Fund 1 3,892,374 3,859,019 3,909,5351 4,156,183 4,204,064 4,252,184 4,284,562 1 4,316,940 265 Special Revenue/Housing Programs 0 0 0 0 0 0 0 0 ITotal FUND Balance(TIF,Gen1 Fund,Revolving Loans 8,617,777 9,668,934 10,797,679 11,836,001 12,652,485 13,447,616 13,818,999 14,203,296 CASH Balances 8,106,540 9,018,362 10,036,934 11,079,467 11,900,183 12,699,568 AVAILABLE USES Redev.Funds Available-HRA General Fund 7,146,955 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 9,584,465 Redev.Funds Available-Pre'90 TIF Districts 6,7,9 825,760 1,014,495 1,148,005 1,428,340 1,694,359 1,961,706 1,961,706 1,961,706 Not Available-Post'90 TIF Districts 16-22 3,383,453 3,411,391 3,100,288 2,941,964 2,817,313 2,716,593 2,691,238 2,653,237 Northstar Station Area Costs 11,12,13 44,127 100,813 229,714 341,249 442,346 543,950 643,341 742,733 Housing Activities RLF,HRP 4,024,441 3,849,458 4,081,792 4,351,333 4,415,066 4,479,119 4,523,374 4,567,629 Total Available FUND Balances 8,569,577 9,622,581 10,751,072 11,836,000 12,652,484 13,447,615 13,818,999 14,203,295 Restricted-Bonds DS only-Pre'82&Pre'79 IF 1,31 48,200 _ 46,607__46,607 0_ 0 0 77 Total FUND Balances,including Restricted 8,617, 7 9,669 188 10,797,679 11 836 001 12,652,485 13,447,616 13,818,999 14,203,296 0 255 0 0 0 0 0 0 Tax Increment from TIF#1 and#3 is severely restricted.Currently all amounts in these districts are paying debt service on the 2004B and 2005B bonds.Once these bonds are paid off,the HRA will be required to return any remaining funds to the County. Fridley Cash Flow 2013c.xlsx Prepared by Seventh,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 2 HRA SUMMARY Fund Balances 0.0% Inflation Projected Projected Projected Projected Projected Projected city Fund Fund Fund Fund Fund Fund Fund TIF Term of Balance Balance Balance Balance Balance Balance # # Description District Type 12/31118 12131118 12/31/20 12/31/21 12/31122 12/31/23 100 HRA General Fund non-increment 9,786,446 9,983,476 10,177,760 10,362,318 10,546,804 10,731,175 501 Housing Replacement 7/18/1996-12/2022 H 256,555 262,422 268,289 274,156 279,372 283,544 701 Investments 450 1 Center City Pre 79 DECERTIFIED R1 0 0 0 0 0 0 451 2 Moore Lake-Decertified DECERTIFIED R1 0 0 0 0 0 0 452 3 North Area(Univ Ind Park)- DECERTIFIED R1 0 0 0 0 0 0 Totals-Pre'82 Districts 0 0 0 0 0 0 ertify#11 Decertify#12 Decertify 013 453 4 Johnson/Skywood/Frank St DECERTIFIED E 454 5 Paco/Paschke/E Ranch Est DECERTIFIED E 455 6 Lake Pointe Medtronic 12/1985-12/2025 R 447,123 447,123 447,123 447,123 447,123 447,123 456 7 Winfield-Decertified DECERTIFIED R 0 0 0 0 0 0 457 8 Shorewood Rest-Decertifm DECERTIFIED E 0 0 0 0 0 0 458 9 Onan/Murphy Warehouse o9/1989-12/2015 R 2,408,828 2,40 .826 2,408,828 2,408,828 2,408,828 2,408,828 459 10 Northco Phase III -Decertil DECERTIFIED E 0 0 0 0 0 0 Totals-Pre'90 Districts 1,961,706 1,961,706 1,961,706 1,961,706 1,961,706 1,961,706 available onl for AWOstar Transit Station Distract 462 11 University/Osbome ov1992-12ao18 R 41A514-) 418414 1 418,514 418,514 1 418,514 418,514 463 12 McGlynn Bakeries 03/1992-12/2019 R 223,55E > 223,554 223,554 1 223,554 223,554 464 13 Satellite Lane Apts 06/1995-12/2023 R 224,777 889 285,001 315,113 345,225(- 375,338 465 14 Industrial Equities(Bus.Ctr DECERTIFIED E 0 0 0 0 0 0 466 15 MN Commercial RaihNay-Di DECERTIFIED E 0 0 0 0 0 0 467 16 57th Ave Linn 09/1997-1 R 0 0 0 0 0 0 468 17 Gateway East 2001-iV1W8 R 559,484 539,565 519,647 499,729 (479,811) 459,892 470 18 Gateway West 2005-1212033 R 894048 875,965 857,882 839,799 821,716 803,633 472 19 5110 Main St NE Ind E 2007-110%4 R 2;717 2,717 2,717 2,717 2,717 2,717 20 BAE Site(RER) 2012- R 0 0 0 0 0 0 474 21 Gateway Northeast 2012- R 1,158,987 1,158,987 1,158,987 (1,158,987) (1,158,987 (1,158,987 22 Northstar Transit Station;{]iistrict R Totals-Post 190Dlstrko (1,773,112) (1,680,277) (1,612,164) (1,544,050) (1,475,937) (1,407,824) Totals-TIF Districts 1-19 188,594 281,429 349,542 417,655 485,769 553,882 Total FUND Balance-All TIF Distri cts&H" n'I Fund 10,231,596 10,527,327 10 795,590 11,054,129 11,311,945 11,568 601 265 lRevolving Loan Fund 1 4,349,318 4,381,696 4,414,074 4,446,452 4,478,830 4,511,208 265 Ispecial Revenue/Housi Programs 0 0 0 0 0 0 Total FUND Balance(TIF,Gen'I Fund,Revolving Loans) 14,580,914 14,909,023 15,209,665 15,500,582 15,790,775 16,079,809 CASH Balances AVAILABLE USES Redev.Funds Available-HRA General Fund 9,786,446 9,983,476 10,177,760 10,362,318 10,546,804 10,731,175 Redev.Funds Available-Pre'90 TIF Districts 6,7,9 1,961,706 1,961,706 1,961,706 1,961,706 1,961,706 1,961,706 Not Available-Post'90 TIF Districts 16-22 2,615,236 2,577,234 2,539,233 2,501,232 2,463,231 2,425,230 Northstar Station Area Costs 11,12,13 842,124 896,957 927,069 957,181 987,294 1,017,406 Housing Activities RLF,HRP 4,605,874 4,644,118 4,682,363 4,720,608 4,758,202 4,794,753 Total Available FUND Balances 14,580,914 14,909,023 15,209,664 15,500,581 15,790,775 16,079,809 Restricted-Bonds DS only-Pre'82&Pre'79 TIF 1,3 _ 0 0__ _0_ 0_ 0 0 Total FUND Balances,including Restricted 14,580,914 14 909,023 15 209,665 15 500,582 15,790 775 16,079 809 0 0 0 0 0 0 Tax Increment from TIF#1 and#3 is severely restride on the 2004B and 2005B bonds.Once these bonds ar Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 3 SUMMARY OF HRA CASH BALANCES Actual Actual Actual Projected Projected Projected 12131/10 12/31/11 12131/12 12J31/13 12/31/14 12131/15 CASH BALANCES HRA General Fund 2,128,887 2,622,505 3,801,869 4,067,064 4,328,046 4,589,455 HRP Housing Replacement Program(HRP) 159,796 590,922 772,257 795,150 811,003 826,935 RLF Housing Funds(RLF) 2,845,956 2,801,309 2,853,960 3,100,608 3,148,489 3,196,609 Debt Service TIF Districts(Capital Projects Funds) 1 Center City-Decertified DECERTIFIED 14,490 12,897 12,897 0 0 0 2 Moore Lake-Decertified DECERTIFIED 0 0 0 0 0 0 3 North Area(Univ Ind Park)-Decertified DECERTIFIED 33,710 33,710 33,710 0 0 0 Pie'90 4 Johnson/Skywood/Frank Shear-Decertified DECERTIFIED 5 Paco/Paschke/E Ranch Estate-Decertified DECERTIFIED 6 Lake Pointe(Medtronic) 12/1985-12/2025 556,653 556,284 333,991 333,434 332,871 332,303 7 Winfield DECERTIFIED 255,592 193,397 0 0 0 0 8 Shorewood Rest-Decertified DECERTIFIED 0 0 0 0 0 0 9 Onan/Murphy Warehouse 09/1989-12/2015 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 10 Northco Phase III -Decertified DECERTIFIED Post'90 11 University/Osborne 01/1992-12/2018 134,083 91,393 146,611 193,559 239,085 284,839 12 McGlynn Bakeries 03/1992-12/2019 83,981 33,735 45,694 74,359 99,452 124,670 13 Satellite Lane Apts 06/1995-12/2023 110,799 61,685 37,409 73,330 103,809 134,440 14 Industrial Equities(Bus.Ctr)-Decertified DECERTIFIED 15 MN Commercial Railway-Decertified DECERTIFIED 16 57th Ave(Linn) 09/1997-12/2024 19,783 50,503 4,806 25,195 44,504 64,006 17 Gateway East 2001-1212028 89,919 50,692 6,094 26,674 43,460 60,415 18 Gateway West 2005-12/2033 13,476 206,972 42,019 163,362 255,924 324,213 19 5110 Main St NE(Ind Eq) 2007-12/2034 85,980 114,296 48,142 48,365 48,591 48,820 20 BAE Site(RER) 21 Gateway Northeast 447,164 327,977 304,035 304,035 304,035 304,035 22 Northstar Transit Station District Investments(Interest Receivable) 0 (255) 0 0 0 0 TOTAL CASH BALANCES 8,106,540 9,018,362 10,036,934 11,079,467 11,900,183 12,699,568 Annual Cha (3,555,055) 911,822 1,018,572 1,042,533 820,716 799,385 AVAILABLE USES Fund# HRA General Fund 100 2,128,887 2,622,505 3,801,869 4,067,064 4,328,046 4,589,455 HRP Housing Replacement Pr ram HRP 501 159,796 590,922 772,257 795,150 811,003 826,935 RLF Housing Funds RLF 265 2,845,956 2,801,309 2,853,960 3,100,608 3,148,489 3,196,609 Redev.Funds Available-Pre'90 TIF#9 Onan 458 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 Redev.Funds Available-Pre'90 TIF Districts 6,7 455,456 812,245 749,682 333,991 333,434 332,871 332,303 Northstar Station Area Costs 11,12,13 462,463,464 328,873 186,813 229,714 341,248 442,346 543,949 Not Available-Post'90 TIF Districts 16-22 656,322 750,185 405,096 567,631 696,514 801,488 Total Available CASH Balances 8,058,340 8,971,755 9,990,327 11,079,466 11,900,183 127699,567 Restricted-Bonds DS on -Pre'82&Pre'79 TIF Dist(1,3) 48,200 46,607 46,607 0 0 0 Total CASH Balances,Including Restricted 8,106,540 9,018,362 10,036,934 11,079,467 11,900,183 12,699,568 0 1 0 1 0 0 0 0 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9117/2013 CITY OF FRIDLEY, MINNESOTA Page 4 ALL TIF DISTRICTS ASSUMPTIONS ACTUAL ACTUAL ACTUAL ACTUAL Projected Projected Projected Projected 2016 2009 2010 2011 2012 2013 2014 2015 &beyond Interest Earnings(on positive fund balance) 0.50% 0.50% 0.50% 0.00% Interest Expense(on negative fund balance) 0.50% 0.50% 0.50% 0.00% Administrative Fees 10.00% 10.00% 10.00% 10.00% Admin Fee Limitations Districts with Cert Req Date before 8/1/01- TIF 6,7,9 Districts with Cert Req Date after 7131101- TIF 11 - Commercial I Industrial Market Value Base 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 Base Rate 1 1 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% Rate for value above base 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% Rental -Market Rate Market Value Base 0 0 0 0 0 0 0 0 Base Rate 1 1 1.25% 1.25% 1.25%1 1.25% 1.25% 1.25% 1.25% 1.25% Rate for value above base 1.25% 1.25% 1.25% 1.256/o 1.25% 1.25% 1.25% 1.25% Rental-Low income/Class 4d (TIF#1) Market Value Base 0 0 0 . 0 0 0 0 0 Base Rate 1 1 0.75% 0.75% 0.75%, 0.75% 0.75% 0.75% 0.75% 0.75% Rate for value above base 0.75% 0.76% 0.75% 0.75°x6 0.75% 0.75% 0.75% 0.75% Residential Homestead Market Value Base 500,000 5W,000 500,000 500,000 500,000 500,000 500,000 500,000 Base Rate I 1 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% Rate for value over base 1.25% 125% 1.25% 1.25% 1.25% 1.25% 1.25% 1.25% Tax Collection Rate F-99.0140/6 99.64°x6 99.64% 99.64% 99.64% 99-64%1 99.64% 99.64% Inflation 0.0 "Aom 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Fiscal Disparities Reduction-TIF#3 decertifed 2008 (percent of captured tax capacity) Local Tax Rates City of Fridley 0.28640 0.32258 0.36986 0.39615 0.47362 0.47362 0.47362 0.47362 Anoka County 0.32078 0.35189 0.39952 0.41146 0.44411 0.44411 0.44411 0.44411 ISD# Misc Watershed TI Districts ISD District 1 13 16 17,1114 6 Cities 0.99092 1.13820 1.26078 1.32490 1.51333 1.51333 1.513331 1.51333 2 8 14 Rice Creek "Moore Lk" 1.00601 1.15294 1 1.27676 1.34799 1.52513 1.52513 1.52513 1.52513 3 11 12 16 6 Cities '71F#3" 0.95075 1.06679 1.19052 1.28071 1.45661 1.4566-1 -1.45661 1.45661 6 19 20 13 Mississippi "Medtronic" 0.91331 0.99423 1.03700 1.12652 1.29928 1.29928 1.29928 1.29928 7 9 14 15 116 1 Rice Creek "Onan"** 0.96584 1.08153 1.20650 1.30380 1.46841 1.46841 1.46841 1.46841 ** Onan"Frozen Tax Rate IF#9 is.97756 Average:1 0.96537 1.08674 1.19431 1 1.27678 1.45255 1.45255 1.45255 1.45255 * Local Tax Rate does not include any rate charged for the State Property Tax. It also excludes any effective rate adjustment due to fiscal disparities(In previous years this equated to an effective 10%higher rate). Fridley Cash Flow 2013c.xlsx Prepared by Sevenich, Butler,Gerlach&Brazil, Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 5 OTHER REVENUES Principal Int.Rt Term 2010 2011 2012 2013 2014 2015 2016 2017 2018 HRA General Fund Sheet Metal Connectors(MSCJ,Inc.)Loan $200,000 5.00% (211 995-2/2003) Victor Rosenblum Loan $125,000 5.00% (211997-8/2002) TIF 815 Minnesota Commercial Rail Property Loan $125,000 5.00% (8/2000-?12008) _ Special Assessments Shorewood (1991-2003) Moore Lake Shopping Center (1991-2003) Northwest Racquet (1991-2003) Tax Levy 472,870 471,919 428,755 428,756 428,756 428,756 428,756 428,756 428,756 Rental $800 per m (200 1-Frauensh uh Pkg Lot) 11,800 9,600 9,600 9,600 9,600 9,600 9,600 9,600 9,600 SUBTOTAL-HRA General Fund Revenues 484,670 481,519 438,356 438,356 438,356 438,356 438,356 438,356 438,356 OTHER TIF 812 McGlynn Development Payment (211994-812008) TIF 814 Industrial Equities Loan $140,000 5.00% (811998-8/2006) Agro-K Loan(TIF 82) Payments readjusted at 10/1005 $75,000 5.00% (11/1997-10/2(M5) 8,473 8,473 8,473 7,061 refinanced Nov,2005 11.75% (11/2005-10/2015) ACCAP Loan(HLP-Fund 265) Annual Payments $57,500 7.25% (811996-82025) 3,798 3,798 3,7981 3,798 3,798 3,798 3,798 TIF Admin 386,176 182,171 127,123 121,949 122,483 92,157 92,424 91,756 other 12,231 0 TOTALS $ 722,500 509,171 867,695 620,527 577,749 572,576 571,697 534,311 534,577 533,910 HRA General Fund Medtronic Land Sale Receipts 233,170 1 436,398 144,324 132,591 132,227 132,227 132,227 132,227 132,227 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach 8 Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 6 OTHER REVENUES Principal Int.Rt Term 2019 2020 2021 2022 2023 2024 2025 HRA General Fund Sheet Metal Connectors(MSCJ,Inc.)Loan $200,000 5.00% (211995-21"3) Victor Rosenblum Loan $125,000 5.00% (211997-82002) TIF#15 Minnesota Commercial Rail Property Loan $125,000 5.00% (82000-22008) Special Assessments Shorewood (1991-2003) Moore Lake Shopping Center (1991-2003) Northwest Racquet (1991-2003) Tax Levy 1 428,756 428, 428,756 428,756 428,756 428,756 426,756 ~ Rental $800 per mn(2001-Frauenshuh Pkg Lot) INN&&J1600 `x-,9,600 9,600 9,600 9,600 9,600 SUBTOTAL-HRA General Fund Revenue%jM 438,3 438,356 438,356 438,356 438,356 438,356 438,356 OTHER TIF#12 Adr McGlynn Development Payment (2/199 008) TIF#14 Industrial Equities Loan $140,000 5.0 (811998- ) Agro-K Loan(TIF#2) Payments sted /1005 $75,000 5.00% ( 10/2015) reflnanced Nov,2005 11.75% (11 -1012015) ACCAP Loan(HLP-Fund 255) Annual Payments $57,500 7.25% (811996-82025) 3,798 3,798 3,798 3,798 3,798 3,798 3,798 TIFAdmIn 86,805 84,058 74,333 74,261 74,145 70,336 70,336 other TOTALS $ 722,500 528,959 526,212 516,487 516,415 516,299 512,490 512,490 HRA General Fund Medtronic Land Sale Receipts 132,227 132,227 132,227 132,227 132,227 132,227 132,227 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 7 REVENUE NOTES AML Principal Int.Rt. %of TI Term 2009 2010 2011 2012 013 2014 2015 2016 2017 NL TIF#6(Lake Pointe) Reimbursement Payments" 2OkK of tax ca Medtronic Agmed to County All Eligible 6.75% 90%of TI 82001-712012 764,255 902,250 8-JUM F 645,022 1 596,660 595,020 595,020 595,020 595,020 90%of TI 82012-22026 *Ned Land payment reases to 22.22% TIF#16(57th Ave) g178,152 n Linn Project 0 175,000 8.50% 90% of TI 811999-22012 25,139 0 0 0 0 0 0 TIF#19 Industrial Equities-5110 Main St.NE 1,500,000 7.00% 90%of TI 82009-22021 �-AqW3 107,238 103,132 93,301 87,523 87,523 87,523 87,523 AIV REWEW BENEFIT TO HRA OF PREPAYING AdrREV.NOTE $ 1,675,000 Total Revenue Not : 850,701 1,106,860 964,984 748,154 689,961 682,542 682,542 682,542 682,542 variance 0 0 01 0 0 1 0 1 0 0 0 Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 8 REVENUE NOTES Apr Principal Int.Rt. %of T1 Term 2018 2019,A- 2020 021 2022 2023 2024 TIF 06(Lake Points) Reimbursement Payments" Medtronic All Eligible 6.75% 90%of TI 8/1001-22012 595,020 5MIWW, 595,020 595,020 595,020 595,020 595,020 90%of TI 82012-212026 NL TIF#16(57th Ave) Ilk Linn Project 0 175,000 8.50% 90%of TI 811999- 0 0 0 0 0 0 TIF#19 Industrial Equities-5110 Main St.NE 1,500,000 7.00% 90%of TI _,?12009'1W1 1 87,52 87,523 87,523 0 0 0 0 REVIEW BENEFIT TO HRA OF P Y/NG ANY NO AN $ 1;675,000 Totai R otes 682,542 682,542 682,542 595,020 595,020 595,020 595,020 variance 0 0 0 0 0 0 0 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9117/2013 CITY OF FRIDLEY,MINNESOTA Page 9 TIF DISTRICT*1 County A2 8 A8 TIF DISTRICT f1 Center City-Decertiflo City Fund 450 Center City-Decertified Redevelopment District Pre-1979 0511979-8M/2009 TOTALS TIF Plan To End Actual Actual Actual Actual Projected---> Bud et of District 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance 0 2,320,715 3,028,876 3,275,701 14,490 12,897 12,897 0 0 Revenues: Inflation Only received first 1/2 Tax Increment(TI)1 0.00%115,566,887 15,004,240 597,743 317,888 0 0 Market Value Homestead Credit(MVHC) 128,289 17,104 17,565 Bond Proceeds 10,506,084 Loan Proceeds 4,852,080 Other Revenues 40,815 Investment Earnings* 1,700,000 535,432 100,319 1,440 9,548 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 4,852,081 Annual Revenues Proj>Budgi 17,266,887 35,919,021 715,166 336,893 9,548 0 0 0 0 0 Expenses Land/building acquisition 13,192,079 10,149,245 Site improvements/prep.costi 3,548,973 1,364,482 Installation of public utilities 10,000 2,061 Parking facilities 1 482,879 290,065 Streets and sidewalks 10,000 4,050 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%1 1,700,000 594,309 7,005 3,474 473 1,593 Professional Services 1 75,084 School Dist.referendum reimb 1,172,763 Interest Expense** 0 0 0 roeturns$to County 5/29/2010 Transfers Out 1,685,444 1,515,228 Debt Service-Bonds 28,182,783 15,708,261 0 86,594 1,7%662 Debt Service-Rev.Notes 0 actual paid off Feb,2010 Debt Service-Loan 4,852,081 Interfund loans 0 Other Expenses 21,176 12,897 Use for MV tax petition r Annual Expenses 47,126,714 35,919,021 7,005 90,068 3,270,759 1,593 0 12,897 01 0 Annual Increase I Decrease (29,859,827) 0 708,161 246,825 (3,261,211) (1,593) 0 (12,897) 0 0 Ending Fund Balanci 0 3,028,876 3,275,701 14,490 12,897 12,897 0 0 0 0 *Use of funds in this TIF District are severely limited. After final debt service payments have been made, the TIF District should,Drobably be decertified. CASH Balance 3,014,072 3,275,901 14,490 12,897 12,897 0 *Interest Earnings on Beg of Yr balance 4.3% 0.0% 0.3% 0.0% 0.0% 0.0% **Interest Expense on negative fund balance Actual Actual Actual Actual Actual Actual Administrative Fees-Annual 4.0% 12% 1.1% Administrative Fees-Cumulative Estimated 4.0% 3.9% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0 Ori ginal Market Value 1 7,833,600 7,833,600 Original Tax Capacity 1 119,311 118,636 Total Market Value 60,529,000 61,306,238 Estimated Tax Ca aci X 779,861 797,407 Captured Tax Capacity 660,550 678,771 Calculated Tax Increment 629,594 670,186 Variance Ind MVHC 14,747 334,733 0 0 0 0 0 0 Tax Rate 0.95658 0.99092 Tax Collection Rate 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 10 County TIF DISTRICT d3 B2,B3,D3&D5 TIF DISTRICT#3 North Area(Univ Ind Pant) City Fund 452 North Area(Univ Ind Park)-DecertMed Redevelopment District 0511982-1212008 TOTALS TIF Plan To End Actual Actual Actual Actual Projected---> Budget of District 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance 2,193,076 1,727,950 37,805 33,710 33,710 33,710 0 0 Revenues: Inflation Tax Increment(TI), 0.00%124,900,000 23,921,254 1,319,401 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 613,318 Loan Proceeds 0 Other Revenues 282,910 Investment Earnings* 2,500,000 482,891 37,693 437 0 Change in FMV of investments 0 Sales/lease proceeds 200,000 0 Transfers In 8,122,978 Annual Revenues Proj>Budg4 27,600,000 33,423,351 1,357,094 437 0 01 0 0 0 0 Expenses Land/building acquisition 7,460,446 2,557,339 Site improvements/prep.cost 6,771,745 510,054 Installation of public utilities 554,250 0 Parking facilities 1 1,026,297 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 2,500,000 234,622 2,820 681 474 Professional Services 1 0 School Dist.referendum reimb 763,749 Interest Expense"* 0 Transfers Out 2,330 Debt Service-Bonds 23,869,107 11,575,673 1,819,400 1,689,901 3,621 Debt Service-Rev.Notes 558,392 0 Debt Service-Other 0 Interfund loans 8,122,981 Other Expenses 9,098,211 33,710 Use for MV tax petition r Annual Expenses 42,181,845 33,4231 , # 1,8H40 1,690582 4,095 0 0 33,710 0 0 Annual Increase/Decrease (14,581,845) 0 5,126) (1,690,145) (4,095) 0 0 (33,710) 0 0 Ending Fund Balance* 0 1,727,950 37,805 33,710 33,710 33,710 0 0 0 0 *Use of funds in this TIF District are severely 111n&d. After final debt service payments have been made, the TIF District should Drobably be decertified. Net Present Value @ 0.00% 0 CASH Balance 1,683,319 2,152 33,710 33,710 33,710 0 Interest Earnings on Beg of Yr balance 1.7% 0.0% 0.0% 0.0% 0.0% 0.0% **Interest Expense on negatlive fund balance Actual Actual Actual Actual Actual Actual Administrative Fees-Annual 1.0% 0.20% Administrative Fees-Cumulative Estimated 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% Original Market Value 5,218,600 Original Tax Capacity 90,170 Total Market Value 107,717,000 Estimated Tax Capacity 1,905,208 FISCAL DISPARITIES (411,462) Captured Tax Capacity 1,403,576 Calculated Tax Increment 11,340,317 Variance 20,916 01 0 0 0 0 0 0 Tax Rate 0.95838 Tax Collection Rate 99.64% Inflation 0.00%1 0.00% 0.00% 0.00% Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 11 TIF DISTRICT$6 1 County#E8 I ITIF DISTRICT 96 Lake Pointe(Medtronic)JCity Fund 455 lake Pointe(Medtronic) Redevelopment District 1211985-12/2025 TOTALS TIF Plan To End Actual Actual Actual Projected Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 0 (589,231) (556,093) (449,242) (445,435) (445,992) (446,555) (447,123) (447,123) Revenues: Inflation TIF#6 OTC acyusted in 2012 Tax Increment(TI) 0.0096 98,950,000 16,998,952 933,829 941,909 717,826 1 662,956 661,133 661,133 661,133 661,133 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 22,829,451 Loan Proceeds 5,641,933 Other Revenues 46,335 Investment Eamings* 9,900,000 75,355 3,121 5,704 3,234 1,670 1,667 1,664 0 0 Change in FMV of investments 0 Sales/lease proceeds 10,000,000 5,600,000 Transfers In 4,876,718 Annual Revenues 118,850,000 56,068,744 936,950 947,613 721,060 664,626 662,800 662,797 661,133 661,133 Expenses Land/building acquisition 12,702,819 11,272,572 Site improvements/prep.costE 12,253,725 1,799,015 Installation of public utilities 3,557,273 1,293,773 _ Parting facilities 74,349,733 0 Streets and sidewalks 4,961,294 0 Public park facilities 0 Other public improvements 1 803,750 Admin Fees-City/HRA(TI*%1 9,900,000 1,703,232 1,562 8,154 72,230 66,296 66,113 66,113 66,113 66,113 Professional Services 1 0 School Dist.referendum reimb 13,228 Interest Expense*" 6,690 0 2,227 2,230 2,233 0 0 Transfers Out 361 Debt Service-Bonds 48,000,000 25,018,900 Debt Service-Rev.Notes 14,603,924 1 902,250 832,607 645,022 596,660 595,020 595,020 595,020 595,020 Debt Service-Other 01 1 Interfund bans 0 Other Expenses 422 Annual Expenses 165,724,844 56,515,8 903812 840,782 717,252 665,183 663,363 663,366 661,133 661,133 Annual Increase I Decrease (46,874,844) {447,1.23) 33,138 106,851 3,807 (557) (563) (568) 0 0 Ending Fund Balance (447,123) (556,093) (449,242) (445,435) (445,992) (446,555) (447,123) (447,123) (447,123) 0 CASH Balance 556,653 556,284 333,991 333,434 332,871 332,303 Interest Earnings on Beg of Yr balance 0.7% 1.0% 0.6% 0.5% 0.5% 0.5%1 0.0% 0.0% **Interest Expense on negative fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual 10.0% 0.2% 0.9% 10.1%, 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 11.3% 10.0%1 10.0%1 10.0% 10.0% 10.0% 10.0% 10.0% ft.to base OTC in 2012 12,158,000 0 Original Market Value Bldg 1 23-30-2441-0030 4,226,500 4,226,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 Original Tax Capacity Bldg 2 23-30-2441-0031 83,780 83,780 326,940 326,940 326,940 326,940 326,940 326,940 Total Market Value Land 23-30-2441-0034 51,372,900 49,924,000 48,510,200 41,989,100 41,918,700 41,918,700 41,918,700 41,918,700 Estimated Tax Capacit Land 23-30-24-42-0041 1 1,026,708 997,730 969,454 839,032 837,624 837,624 837,624 837,624 Day Care 23-30-2442-0042 Captured Tax CapaciN Land 23-30-24-42-0043 942,928 913,950 642,514 512,092 510,684 510,684 510,684 510,684 Calculated Tax Increment 1 934,112 944,354 721,199 662,956 661,133 661,133 661,133 661,133 Variance 283 2,445 3,373 0 0 0 0 0 Tax Rate 0.99423 1.037 1.12652 1.29928 1.29928 1.29928 1.29928 1.29928 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Old PINS Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach 8 Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 12 TIF DISTRICT#6 1 County#E8 ITIF DISTRICT#6 Lake Pointe(Medtronic)I City Fund 455 Lake Points(Medtronic) Redevelopment District 1211985-1212025 TOTALS TIF Plan To End Budget of District 2018 2019 2020 2021 2022 2023 2024 2025 Fund Balance 0 (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) Revenues: Inflation Tax Increment(TI) .00%1 98,950,000 16,998,952 661,133 661,133 661,133 661,133 661,133 661,133 661,133 661,133 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 22,829,451 Loan Proceeds 5,641,933 Other Revenues 46,335 Investment Eamings• 9,900,000 75,355 0 0 0 0 0 0 01 0 Change in FMV of investments 0 Sales/lease proceeds 10,000,000 5,600,000 Transfers in 4,876,718 Annual Revenues 118,850,000 56,068,744 661,133 661,133 661,133 661,133 661,133 661,133 661,133 661,133 Expenses Land/building acquisition 12,702,819 11,272,572 Site improvements/prep.cosh 12,253,725 1,799,015 Installation of public utilities 3,557,273 1,293,773 Parting facilities 1 74,349,733 0 Streets and sidewalks 4,961,294 0 Public park facilities 0 Other public improvements 803,750 Admin Fees-City/HRA(TI'%1 9,900,000 1,703,232 66,113 66,113 66,113 66,113 66,113 66,113 66,113 66,113 Professional Services 1 0 School Dist.referendum reimb 13,228 Interest Expense" 6,690 0 0 0 0 0 0 0 0 Transfers Out 361 Debt Service-Bonds 48,000,000 25,018,900 Debt Service-Rev.Notes 14,603,924 595,020 595,020 595,020 595,020 595,020 595,020 595,020 595,020 Debt Service-Other 0 Interfund loans 0 Other Expenses 422 Annual Expenses 165,724,844 56,515,867 60,133 661,133 661,133 661,133 661,133 661,133 661,133 661,133 Annual Increase/Decrease (46,874,844) (447,123 0 0 0 0 0 0 0 0 Ending Fund Balance (447,123) (447123) (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) (447,123) 0 CASH Balance Interest Eamin s on Beg of Yr balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Interest Expense on negative fund balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Original Market Value Bldg 1 23-30-2441-0030 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 Original Tax Capacity Bldg 2 23-30-24-41-0031 326,940 326,940 326,940 1 326,940 326,940 326,940 326,940 1 326,940 Total Market Value Land 23-30-24.41-0034 1 41,918,700 1 41,918,700 41,918,700 41,918,700 141,918,700 41,918,700 41,918,700 141,918,7oO Estimated Tax Capacit Land 23-30-24-42-0041 837,624 837,624 837,624 837,624 837,624 837,624 837,624 837,624 Day Care 23-30-24-42-0042 Captured Tax CapaciN Land 23-30-24-42-0 043 510,684 510,684 510,684 510,684 510,684 510,684 510,684 510,684 Calculated Tax Increment 661,133 661,133 661,133 661,133 661,133 661,133 661,133 661,133 Variance 0 0 0 0 0 0 Tax Rate 1.29928 1.29928 1.29928 1.29928 1 1.29928 1.29928 1.29928 1 1.29928 Tax Collection Rate 99.64%1 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00%1 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Old PINS Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 13 TIF DISTRICT#7 County G3 TIF DISTRICT#7 Winfleld-Decertified City Fund 456 Winfield-Decertified Redevelopment District 1011986-1212012 TOTALS TIF Plan To End Actual Actual Actual Actual Actual Projected-a Budge of District 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance 618,112 120,183 190,393 255,592 193,397 0 0 0 Revenues: Inflation low Tax Increment(TI) 0.00%1 2,000,000 1,712,521 72,420 71,309 64,239 75,188 77,223 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Prooeeds I 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings';1200,000 114,695 9,096 0 1,433 2,134 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 0 Annual Revenues 2,200,000 1,827,216 81,516 71,309 65,672 77,321 77,223 0 01 0 Expenses Northstar Station land Land/building acquisition 643,370 608,000 578,000 Site improvements/prep.cost 497,392 0 Installation of public utilities 87,960 0 Parking facilities 1 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI•% 200,000 162,886 1,445 1,099 473 139,516 7,713 0 0 0 Professional Service s 0 increase admin fees to 10%cumulative School Dist.referendum reimb 0 Total admin fees should be approx 170K Interest Expense'• 0 Transfers Out 263,745 262,907 ITransfer balance to TIF#18 Debt Service-Bonds 1,843,084 792,196 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 389 Annual Expenses 3,271,806 1,827,216 579,445 1,099 473 139,516 270,620 0 0 0 Annual increase/Decrease (1,071,806 0 497,929) 70,210 65,199 (62,195) (193,397) 0 0 0 Ending Fund Balance 6- 190,393 255,592 193,397 0 0 0 0 0 CASH Balance 120,504 190,810 255,592 193,397 1 0 0 0 0 "Interest Earnings on Beg of Yr balance 1.5% 0.0% 0.8% 0.8%1 0.0°k 0.5% 0.5% 0.5% "*Interest Expense on negative fund balance Actual Actuall Actual Actuall Actual 0.5% 0.5% 0.5% Administrative Fees-Annual 9.5% 2.0% 1.5% 0.7% 185.6%1 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 1.0% 1.0% 1.0% 9.5% 9.5°� 9.5% 9.5% 9.5% Original Market Value 216,600 216,600 216,600 216,600 216,600 Original Tax Capacity 3,582 3,582 3,582 3,582 3,582 Total Market Value 11-30-24-32-0034 3,966,500 3,966,500 3,569,900 3,352,100 3,215,600 Estimated Tax Ca aoi 78,580 78,580 70,648 66,292 63,562 Captured Tax Capacity 74,998 74,998 67,066 62,710 59,980 Calculated Tax Increment 72,790 72,175 72,273 75,387 77,920 Variance 370 867 8,034 200 698 01 0 0 Tax Rate 0.97406 0.96584 1.08153 1.2065 13038 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% COMMERCIAL/INDUS L MV update MV update MV updatec MV updatec MV updated Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 14 TIF DISTRICT at9 County K1 TIF DISTRICT Onan/Murphy Ware City Fund 458 Onon/Murphy Warehouse Redevelopment District 0911989-1212015 TOTALS TIF Plan To End Actual Actual Actual Actual Projected--> Budget of District 2009 2010 2011 2012 2013 2014 2015 2016 Fund Balance 392,564 772,632 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 Revenues: Inflation Tax Increment(TI)1 0.00%1 8,000,000 5,071,135 381,392 347,787 352,872 348,740 303,250 285,789 285,789 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 1,353 Other Revenues 5,108 Investment Earnings* 800,000 228,385 0 6,316 11,370 9,184 7,967 9,372 10,705 0 Change in FMV of investments 0 Salesllease proceeds 01 1 Transfers In 1,353 Annual Revenues 8,800,000 5,307,334 381,392 354,103 364,241 357,924 311,217 295,161 296,494 0 Expenses ition land Land/building acquisition 5,026,000 1,694,094 Site improvements/prep.cost, 3,100,000 11,491 Installation of public utilities 1,342,000 ON Parking facilities I OR Streets and sidewalks 435,000 0 Public park facilities 0 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 800,000 506,131 1,324 474 Z__320,16334,824 30,325 28,579 28,579 0 Professional Services 1 0 increase admin fees to 10%cumulative School Dist.referendum reimb 0 Tout admin fees should be>$500,000 by 2015 Interest Expense** 0 0 0 0 0 0 Transfers Out 931 Debt Service-Bonds 16,092,000 0 Debt Service-Rev.Notes 685,181 Debt Service-Other 0 Interfund loans Q Other Expenses 677 Annual Expenses 26,795,000 2,898,506 1, 474 220,163 34,824 30,325 28,579 28,579 0 Annual Increase/Decrease (17,995,00Q) 2,408, 380,068 353,629 144,078 323,100 280,892 266,582 267,915 0 Ending Fund Balance 2,408,828 772,632 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 2,408,828 0 CASH Balance 773,274 1,126,261 1,270,339 1,593,440 1,874,332 2,140,914 2,408,828 *Interest Earnings(on Beg of Yr balance 0.0% 0.8% 1.0% 0.7% 0.5% 0.5% 0.5% 0.0% **Interest Expense on negative fund balance Actual Actual Actual Actual 0.5% 0.5°x6 0.5% 0.0% Administrative Fees-Annual 10.0% 0.3% 0.1% 62.4% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 5.2% 4.7% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Est.Original Market Value 2,380,500 2,380,500 2,380,500 2,380,500 2,380,500 2,380,500 2,380,500 Original Tax Capacity 42,722 42,722 42,978 42,978 42,909 42,909 42,909 Total Market Value 22,660,050 22,362,700 20,729,400 20,216,637 18,031,100 17,134,784 17,134,784 Estimated Tax Capacity 445,569 439,747 408,129 397,894 354,241 336,315 336,315 Ca turgid Tax Ca 402,847 397,025 365,151 354,916 311,332 293,406 293,406 Calculated Tax Increment 387,685 386,719 355,672 345,702 303,250 285,789 285,789 Variance 6,293 38,932 2,800 3,037 0 0 0 0 Tax Rate 0.96584 0.97756 0.97756 0.97756 1 0.97756 0.97756 0.97756 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.97756 Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Sutler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 15 County TIF DISTRICT#11 L6&L7 I TIF DISTRICT#11 University/Osborne City Fund 462 Univers /Osborne Redevelopment District (Special Legislation-TI Available for Northstar Station) 0111992-12/2018 TOTALS TIF Plan To End Actual Actual Actual Actual Actual Projected------> Budget of District 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance 300,470 (106,639) (41,315) 27,093 91,393 146,611 193,5591 239,085 Revenues: Inflation Tax Increment(TI), 0.00% 1,500,000 1,076,359 51,543 66,940 68,130 64,319 60,501 51,350 49,509 49,509 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 150,000 55,079 4,072 0 752 1,444 763 733 _968 _1'195 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 31,881 Annual Revenues 1,650,000 1,163,319 55,615 66,940 68,882 65,763 61,264 52,083 50,477 50,705 Expenses Northstar Station land Land/building acquisition 350,000 530,145 403,511 90 Site improvements/prep.cost 340,000 0 Installation of public utilities 0 Parking facilities 1 0 Streets and sidewalks 100,000 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%1 150,000 129,606 59,213 1,527 474 1,463 6,046 5,135 4,951 4,951 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 Transfers Out 323 Debt Service-Bonds 1,260,000 0 Debt Service-Rev.Notes 79,301 Debt Service Other 4,643 Interfund loans 0 Other Expenses 787 Annual Expenses 2,200,000 744,- 462,T24 1,817 474 1,463 6,046 5,135 4,951 4,951 Annual Increase/Decrease (550,000) 418,514 407,109) 65,323 68,408 64,301 55,218 46,948 45,526 45,754 Ending Fund Balance 418,514: (106,639) (41,315) 27,093 91,393 146,611 193,559 239,085 284,839 0 CASH Balance 104,654 66,530 134,093 91,393 146,611 193,559 239,085 284,839 *Interest Earnings on Beg of Yr balance 1.4% 0.0% 1.1% 1.1% 0.8% 0.5% 0.5% 0.5% '*Interest Expense on negative fund balance Actual Actual Actual Actual Actual 0.5% 0.5% 0.5% Administrative Fees-Annual 12.0% 114.9°x6 2.3% 0.7% 2.3% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 17.4% 15.7% 14.1% 13.1% 12.8% 12.7% 12.5% 12.4% Est.Original MarketValue 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 Original Tax Capacity 1 26,478 26,478 26,478 26,478 26,478 26,478 26,478 1 26,478 Total Market Value 1 11-30-24-22-0026 4,095,200 4,946,800 4,919,900 4,582,900 4,402,000 3,937,400 3,846,400 13,846,400 Estimated Tax Ca a ' 11-30-24-22-0027 80,404 97,436 96,898 90,158 86,540 77,248 75,428 75,428 11-30-24-22-0024 Captured Tax Capacity 53,926 70,958 70,420 63,680 60,062 50,770 48,950 48,950 Calculated Tax Increment 51,496 67,220 71,225 64,408 60,748 51,350 49,509 49,509 Variance 47 280 3,095 89 248 0 0 0 Tax Rate 0.95838 0.95075 1.01508 1.01508 1.01508 1.01508 1,015081 1.01508 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00%1 0.00% 0.00% 0.00% 0.00% Certified Tax Rate L6 1.01508 L7 1.01508 COMMERCIAL/INDUSTRIAL MV updated MV updated MV updated MV updated MV updated MV updated MV updated Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 16 County TIF DISTRICT#11 L6&L7 I TIF DISTRICT#11 University I Osborne City Fund 462 University/Osborne Redevelopment District (Special Legislation-TI Available for Northstar Station) 0111992-1212018 TOTALS TIF Plan To End Budget of District 2016 2017 2018 2019 2020 2021 2022 2023 Fund Balance 284,839 329,397 373,956 418,514 418,514 418,514 418,514 418,514 Revenues: Inflation Tax Increment(TI) 0. 1,500,000 1,076,359 49,509 49,509 49,509 0 0 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 150,000 55,079 0 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 31,881 Annual Revenues 1,650,000 1,163,319 49,509 49,509 49,509 0 0 0 0 0 Expenses Land/building acquisition 350,000 530,145 Site improvementstprep.cos 340,000 0 Installation of public utilities 0 Parking facilities 0 Streets and sidewalks 100,000 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 150,000 129,606 4,951 4,951 4,951 0 0 0 0 0 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 0 0 0 0 0 Transfers Out 323 Debt Service-Bonds 1,260,000 0 Debt Service-Rev.Notes 79,301 Debt Service-Other 4,643 Interfund loans 0 Other Expenses 78.7 Annual Expenses 2,200,000 744,6 4,951 4,061 4,951 01 0 0 0 0 Annual Increase/Decrease (550,000 !6 14 .001L,558 44,558 44,558 0 0 0 0 0 Ending Fund Balance 418,514Q 329,397 373,956 418,514 418,514 418,514 418,514 418,514 418,514 0 CASH Balance *Interest Earnings on Beg of Yr balance 0.0% 0.0% 0.0% * Interest Expense on negative fund balance 0.0%1 0.0% 0.0% Administrative Fees-Annual 12.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 12.2% 12.1% 12.0% 12.0% 12.0% 12.0% 12.0% 12.0% Est.Original MarketValue 1,398,900 1,398,900 1,398,900 Original Tax Capacity 26,478 26,478 26,478 Total Market Value 11-30-24-22-0026 3,846,400 3,846 400 3,846,400 Estimated Tax Ca ac' 11-30-24-22-0027 75,428 75,428 75,428 11-30-24-22-0024 Captured Tax Capacity 48,950 48,950 48,950 Calculated Tax Increment 49,509 49,509 49,509 Variance 0 0 0 0 0 0 0 0 Tax Rate 1.01508 1.01508 1.01508 Tax Collection Rate 99.64% 99.64% 99.64% Inflation 1 0.00% 0.00% 0.00°x6 Certified Tax Rate L6 1.01508 L71 1.01508 COMMERCIAL/INDUSTRIAL Fridley Cash Flow 2013c.xlsx Prepared by Seventh,Butler,Gerlach&Brazil,Ltd. 9/1712013 CITY OF FRIDLEY,MINNESOTA Page 17 County TIF DISTRICT#12 L9&M1 I TIF DISTRICT#12 McGlynnBakerles JCityFund463 McGlynn Bakeries Redevelopment District (Special Legislation-TI Available for Northstar Station) 0311992-1212019 TOTALS TIF Plan To End Actual Actual Actual Actual Actual Projected---a Budget of District 2008 2009 2010 2011 2012 2013 2014 2015 Fund Balance 200,343 (103,322) (64,374) (20,019) 9,735 45,694 74,359 99,452 Revenues: Inflation Tax Increment(TI). 0.00%1 2,200,000 1,227,405 40,260 40,452 1 44,357 41,612 39,671 •31,597 27,468 27,468 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 220,000 40,076 2,781 12 471 826 255 228 372 497 Change in FMV of investments 0 SalesAease proceeds 0 Transfers in 32,112 Annual Revenues 2,420,000 1,299,593 43,041 40,463 44,828 42,438 39,926 31,825 27,840 27,965 Expenses Northstar Station land Land/building acquisition 1,550,000 287,511 287,511 Site improvements/prep.cost, 380,000 213,533 Installation of public utilities 0 Parking facilities 1 0 Streets and sidewalks 01 1 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI'%J 220,000 122,188 59,195 1,516 473 12,684 3,967 3,160 2,747 2,747 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense** 0 1 0 0 0 Transfers Out 180 Debt Service-Bonds 2,895,000 0 Debt Service-Rev.Notes 451,851 Debt Service-Other 0 Interfund loans 0 Other Expenses 776 Annual Expenses 5,045,000 1,076,Q36 L 346,706 1,516 473 12,684 3,967 3,160 2,747 2,747 Annual Increase/Decrease (2,625,000 0223,554� "- 303,665) 38,948 44,355 29,754 35,959 28,665 25,093 25,218 Ending Fund Balance (103,322) (64,374) (20,019) 9,735 45,694 74,359 99,452 124,670 CASH Balance 88,970 40,460 83,981 33,735 45,694 74,359 99,452 124,670 'Interest Earnings(on Beg of Yr balance 1.4% 0.0% 1.2%1 1.0% 0.0% 0.5%1 0.5% 0.5% "Interest Expense on negative fund balance Actual Actual Actual Actual 0.0% 0.5% 0.5% 0.5% Administrative Fees-Annual 10.0% 147.00/6 3.7% 1.1% 30.5% 0.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 9.7% 9.4% 9.0% 9.9% 9.9% 9.9% 9.9% 10.0% Est.Original Market Value 12,100,200 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200 Original Tax Ca aci 41,254 1 41,254 41,254 41,254 41,254 41,254 41,254 41,254 Total Market Value 10-30-24-14-0060 4,205,700 4,205,700 4,205,700 4,075,300 3,982,200 3,525,900 3,339,600 3,339,600 Estimated Tax Ca a ' 11-30-24-23-0026 83,364 83,364 83,364 80,756 78,894 69,768 66,042 66,042 Fiscal Disparities Ca turgid Tax Capacity 42,110 42,110 42,110 39,502 37,640 28,514 24,788 24,788 Calculated Tax increment 40,212 39,892 44,761 1 43,772 41,709 31,597 27,468 27,468 Variance 48 560 404 2,161 2,038 0 0 0 Tax Rate 0.95838 0.95075 1.06679 1.11211 1.11211 1.11211 1.11211 1.11211 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00%1 0.00% 0.00% Certified Tax Rate L9 1.11211 M1 1.02984 Schedule Pa ment-Max Amount Owed 130,238 COMMERCIAL/INDUSTRIAL MV update MV update MV updatec MV updatec MV updateJMV update MV updated Fridley Cash Flow 2013c.x1sx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 18 County TIF DISTRICT 012 L9 8 M1 I TIF DISTRICT#12 McGlynn Bakeries City Fund 463 McGlynn Bakeries Redevelopment District (Special Legislation-TI Available for Northstar Station) 03/1992-12/2019 TOTALS TIF Plan To End Budget of District 2016 2017 2018 2019 2020 2021 2022 Fund Balance 124,670 149,391 174,112 198,833 223,554 223,554 223,554 Revenues: Inflation Tax Increment(TI)1 0.00%1 2,200,000 1,227,405 27,468 27,468 27,468 27,468 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings" 220,000 40,076 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 32,112 Annual Revenues 2,420,000 1,299,593 27,468 27,468 27,468 27,468 0 0 0 Expenses Land/building acquisition 1,550,000 287,511 Site improvements/prep.cost 380,000 213,533 Installation of public utilities 0 Parking facilities 1 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%1 220,000 122,188 2,747 2,747 2,747 2,747 0 0 0 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 0 0 0 0 Transfers Out 180 Debt Service-Bonds 2,895,000 0 Debt Service-Rev.Notes 451,851 Debt Service-Other 0 Interfund loans 0 Other Expenses 776 Annual Expenses 5,045,000 1,076,039 2,747 2,747 2,747 2,747 0 0 0 Annual Increase/Decrease (2,625,000 2231 24,721 24,721 24,721 24,721 0 0 0 Ending Fund Balance 2 _x$54 149,391 174,112 198,833 223,554 223,554 223,554 223,554 (0) CASH Balance *Interest Earnings on Beg of Yr balance 0.0% 0.0% 0.0%d22 **Interest Expense on negative fund balance 0.0% 0.0% 0.0% Administrative Fees-Annual 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Est.Original Market Value 2,100,200 2,100,200 2,100,200 Ori inal Tax Ca ad 41,254 41,254 41,254 Total Market Value 10-30-24-14-0060 3,339,600 3,339,600 3,339,600 Estimated Tax Ca a ' 11-30-24-23-0026 66,042 66,042 66,042 Fiscal Disparities Captured Tax Capacity 24,788 24,788 24,788 24,788 Calculated Tax Increment 27,468 27,468 27,468 27,468 Variance 0 0 0 0 0 0 0 Tax Rate 1.11211 1.11211 1.11211 1.11211 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% Certified Tax Rate L9 1.11211 M1 1.02984 Schedule Payment-Max Amount Owed COMMERCIAL/INDUSTRIAL Fridley Cash Flow 2013c.)dsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 19 TIF DISTRICT#13 County N1 ITIF DISTRICT#13 Satellite Lane Apts City Fund 464 Satellite Lane Apts Redevelopment District (Special Legislation-TI Available for Northstar Station) 0811995-12/2023 TOTALS TIF Plan To End Actual Actual Actual Actual Actual Projected--> Budget of District 2008 2009 2010 2011 2012 2013 2014 2016 Fund Balance 400,741 (155,801) (105,049) (51,201) (315) 37,4091 73,330 103,809 Revenues: Inflation TI reduced by impact of limited MV starting 2012 Tax Increment(TI)1 0.00%1 1,800,000 958,138 48,478 47,549 49,005 46,031 41,562 39,705 33,458 33,458 Market Value Homestead Credit(MVHC) 43,625 4,322 4,529 4,722 5,107 Bond Proceeds 0 Loan Proceeds 432,109 Other Revenues 0 Investment Earnings" 180,000 57,752 5,218 110 595 1,1051 318 187 3671 519 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 431,070 Annual Revenues 1,980,000 1,922,6941 58,018 52,188 54,322 52,243 41,880 39,892 33,825 33,977 Expenses Northstar Station land Land/building acquisition 2,500,000 981,698 556,000 Site improvements/prep.costi 525,000 4,781 Installation of public utilities 0 Parking facilities 1 25,000 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 180,000 127,615 58,560 1,436 474 1,357 4,156 3,970 3,346 3,346 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense** 0 0 0 0 Transfers Out 424 Debt Service-Bonds 4,575,000 0 Debt Service-Rev.Notes 0 Debt Service-Other 432,109 Interfund loans 0 Other Expenses 730 Annual Expenses * 7,805,000 1,547,Ml 614,W 1,436 474 1,357 4,156 3,970 3,346 3,346 Annual Increase/Decrease (5,825,00 375,336 (556,542) 50,752 53,848 50,886 37,724 35,921 30,479 30,631 Ending Fund Balance 375,338 (155,801) (105,049) (51,201) (315) 37,409 73,330 103,809 134,440 (0) *Approximately$4.0 million in costs of this TIF District were paid by TIF#1 CASH Balance 158,531 57,705 110,799 61,6851 37,409 73,330 103,809 134,440 Interest Earnings(on Beg of Yr balance 1.3% 0.1% 1.0% 1.0% 0.5% 0.5°x6 0.5% 0.5% '*Interest Expense on negative fund balance Actual Actual Actual Actual Actual 0.5% 0.5% 0.5% Administrative Fees-Annual 13.3% 120.8% 3.0% 1.0% 2.9% 10.0% 10.0°x6 10.0% 10.0% Administrative Fees-Cumulative Estimated 20.7% 18.8% 17.1% 15.9% 15.4% 15.1% 14.8% 14.6% Est.Original Market Value 233,400 233,400 233,400 233,400 233,400 143,560 143,800 143,800 Ori inatTaxCapacity 2,334 2,334 2,334 2,334 2,334 1,438 1,438 1,438 Total Market Value 5,756,100 5,506,300 5,046,700 4,549,2001 4,284,061 3,529,191 2,996,572 2,996,572 Estimated Tax Ca a ' 57,561 55,063 50,467 45,492 42,841 35,292 29,966 29,966 Ca tured Tax Ca 55,227 52,729 48,133 43,158 40,507 33,854 28,528 28,528 Calculated Tax Increment M52,639 52,062 54,588 50,617 47,507 39,705 33,458 33,458 Variance 16 861 522 5,945 0 0 0 Tax Rate 0.99092 1.1382 1.17706 1.17706 1.17706 1.17706 1.17706 TeX Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 1.17706 Fridley Cash Flow 2013c,xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 20 TIF DISTRICT#13 County N1 TIF DISTRICT#13 Satellite Lane Apts City Fund 464 Satellite Lane Apts Redevelopment District (Special Legislation-TI Available for Northstar Station) 0611986-12/2023 TOTALS TIF Plan To End Budget of District 2016 2017 2018 2019 2020 2021 2022 2023 Fund Balance 134,440 164,552 194,665 224,777 254,889 285,001 315,113 345,225 Revenues: Inflation Tax Increment(TI) 0.00% 1,800,000 958,138 33,458 33,458 33,458 33,458 33,458 33,458 33,458 33,458 Market Value Homestead Credit(MVHC) 43,625 Bond Proceeds 0 Loan Proceeds 432,109 Other Revenues 0 Investment Earnings• 180,000 57,752 0 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 431,070 Annual Revenues 1,980,000 1,922,694 33,458 33,458 33,458 33,458 33,458 33,458 33,458 33,458 Expenses Land/building acquisition 2,500,000 981,698 Site improvements/prep.costi 525,000 4,781 Installation of public utilities 0 Parking facilities 1 25,000 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI'%1 180,000 127,615 3,346 3,3413 3,346 3,346 3,346 3,346 3,346 3,346 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense'" 0 0 0 0 0 0 0 01 0 Transfers Out 424 Debt Service-Bonds 4,575,000 0 Debt Service-Rev.Notes 0 Debt Service-Other 432,109 Interfund loans 0 Other Expenses 730 Annual Expenses 7,805,000 1,547,367 3,11W 3;346 3,346 3,346 3,346 3,346 3,346 3,346 3,346 Annual increase/Decrease 5,825,000 375,3*, 3U,112 30,112 30,112 30,112 30,112 30,112 30,112 30,112 Ending Fund Balance 375,338 164,552 194,665 224,777 254,889 285,001 315,113 345,225 375,338 (0 Approximately$4.0 million in costs of this TIF District were paid by TIF#1 CASH Balance *Interest Earnings(on Beg of Yr balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%1 0.0% Interest Expense on negative fund balance 0.0% 0.0°/0 0.0% 0.0% 0.0% 0.0% 0.0%1 0.0% Administrative Fees-Annual 13.3% 10.0% 10,0% 10.0% 10.0% 10.0% 10.0% 10.0%1 10.0% Administrative Fees-Cumulative Estimated 14.4% 14.2% 14.0% 13.9% 13.7% 13.6% 13.4% 13.3% Est.Original Market Value 143,800 143,800 143,800 143,800 143,800 143,800 143,800 143,800 Original Tax Capacity 1,438 1,438 1,438 1,438 1,438 1,438 1,438 1,438 Total Market Value 2,996,572 2,996,572 2,996,572 2,996,572 2,996,572 2,996,572 2,896.572 2,996,572 Estimated Tax Ca a ' 29,966 29,966 29,966 29,966 29,966 29,966 29,966 29,966 .Captured Tax Capacity 28,528 28,528 28,5281 28,528 28,528 28,528 28,528 28,528 Calculated Tax Increment 33,458 33,458 33,458 33,458 33,458 33,458 33,458 33,458 Variance 0 0 0 0 0 0 0 0 Tax Rate 1 1.17706 1.17706 1.17706 1.17706 1.17706 1.17706 1.17706 1.17706 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00%1 0.00% 0.00% 0.00% 0.00% 0.00°h 0.00% Certified Tax Rate 1.17706 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 21 TIF DISTRICT#16 County P8 TIF DISTRICT#16 57th Ave(Linn) City Fund 467 67th Ave(Linn) Redevelopment DistHct 0811997-12/2024 TOTALS TIF Plan To End Actual Actual Actual Projected------> Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance (124,822) (122,112) (73,257) (48,954) (28,565) (9,256) 10,245 0 Revenues: Inflation Tax Increment(TI) 0.00%1 1,000,000 338,439 29,530 27,887 26,804 22,900 21,473 21,473 0 0 Market Value Homestead Credit(MVHC) 01 1 Bond Proceeds 0 Loan Proceeds 18,435 Other Revenues 0 Investment Earnings 100,000 2,306 111 450 177 24 126 223 0 0 Change in FMV of investments 0 Sales/lease proceeds 50,000 50,000 developer payment owed Transfers In 15,935 Annual Revenues 1,100,000 425,114 29,641 78,337 26,982 22,924 21,599 21,695 0 0 Expenses Land/building acquisition 655,000 2,002 Site improvements/prep.cost 175,000 116,859 Installation of public utilities 0 Parking facilities 1 50,000 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI•% 100,000 59,838 473 4,343 2,678 2,290 2,147 2,147 0 0 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense'* 434 245 143 46 0 0 Transfers Out 26,311 10,245 Debt Service-Bonds 1,320,000 0 Decertify TAF D/sbict after Fund balance becomes positive. Debt Service-Rev.Notes 219,270 26,458 25,139 Debt Service-Other 0 Interfund loans 0 Other Expenses 400 Annual Expenses 2,300,000 425,114 2L,931 21,482 2,678 2,535 2,290 2,194 10,245 0 Annual Increase/Decrease (1,200,000) (0) 2,710 48,855 24,303 20,389 19,309 19,502 (10,245) 0 Ending Fund Balance (0 (122,112) (73,257) (48,954) (28,565) (9,256) 10,245 0 0 (0) . CASH Balance 19,783 50,503 4,806 25,195 44,504 64,006 Interest Earnings on Beg of Yr balance 0.6% 2.3% 0.4% 0.5% 0.5% 0.5% 0.0% Interest Expense on negative fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.0% Administrative Fees-Annual 17.7% 1.6% 15.6% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 21.2% 20.6% 19.5% 18.8% 18.2% 17.7% 17.7% 17.7% Est.Original Market Value 426,300 426,300 426,300 426,300 426,300 426,300 Original Tax Capacity I 1 1 7,301 7,301 7,301 7,301 7,301 7,301 Total Market Value 1 23-30-24-23-0144 1,741,700 1,626,200 1,584,300 1,412,500 1,351,900 1,351,900 Estimated Tax Ca a ' 23-30-24-23-0145 33,334 31,024 1 30,186 26,750 25,538 25,538 Captured Tax Capacity 26,033 23,723 22,885 19,449 18,237 18,237 Calculated Tax Increment 29,524 27,932 26,945 22,900 21,473 21,473 Variance 6 46 141 0 0 0 Tax Rate 1.1382 1.18168 1.18168 1.18168 1.18168 1.18168 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00%1 0.00% 0.00% Certified Tax Rate 1.18168 COMMERCIAL/INDUSTRIAL I JMV update MV update MV update MV update MV updated Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 22 TIF DISTRICT 017 County R9 TIF DISTRICT 017 Gateway East City Fund 468 Gateway East Redevelopment District 2001-1212028 TOTALS TIF Plan To End Actual Actual Actual Projected----> Bud et of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance (774,318) (734,734) (698,962) (673,559) (652,980) (636,193) (619,238) (599,320) Revenues: Inflation TI reduced by impact of limited MV starting 2012 Tax Increment(TI) 0.0074 2,000,000 688,371 34,927 32,088 28,090 26,574 22,131 22,131 22,131 22,131 Market Value Homestead Credit(MVHC) 42,977 4,653 4,188 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 26,092 Investment Earnings 200,000 17,350 478 901 1821 30 133 217 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 0 Annual Revenues 2,200,000 774,790 40,058 37,177 28,272 26,605 22,265 22,349 22,131 22,131 Expenses Land/building acquisition 627,500 602,963 Site improvements/prep.cost 1,000,000 26,966 Installation of public utilities 665,000 264,638 Parking facilities 0 Streets and sidewalks 253,610 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI'% 200,000 190,506 474 1,404 2,869 2,657 2,213 2,213 2,213 2,213 Professional Services 1 40,149 School Dist.referendum reimb 0 Interest Expense"* 9,814 3,368 1 3,265 3,181 0 0 Transfers Out 56 Debt Service-Bonds 3,819,166 0 Debt Service-Rev.Notes On Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 6,565,276 1,135,fQD4 474 1,104 2,869 6,025 5,478 5,394 2,213 2,213 Annual increase/Decrease (4,365,276 (360;301) 3 8,584 35,772 25,403 20,579 16,787 16,955 19,918 19,918 Ending Fund Balance (360,301) (734,734) (698,962) (673,559) (652,980) (636,193) (619,238) (599,320) (579,402) 0 Net Present Value 0.00% (360,301) CASH Balance 89,919 50,692 6,094 26,674 43,460 60,415 'Interest Earnings(on Beg of Yr balance 0.9% 1.0% 0.4°x6 0.5% 0.5% 0.5% 0.0% 0.0% Interest Expense on negative fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual 27.7% 1.4% 4.4% 10.2% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 55.8% 50.3% 46.9% 44.1% 42.1% 40.4% 38.8% 37.3% Est.Original Market Value 504,200 504,200 504,200 346,800 346,800 346,800 346,800 346,800 Original Tax Capacity 5,042 5,042 5,042 3,468 3,468 3,468 3,468 3,468 Total Market Value 4,517,100 4,182,500 4,016,618 1 3,042,460 2,591,801 2,591,801 1 2,591,801 2,591,801 Estimated Tax Ca a ' 45,171 41,825 40,1661 30,425 25,918 25,9181 25,918 25,918 Captured Tax Capacity 40,129 36,783 35,124 26,957 22,450 22,450 22,450 22,450 Calculated Tax Increment 1 39,559 36,261 34,626 26,574 22,131 22,131 22,131 22,131 Variance 21 15 6,536 0 0 0 0 0 Tax Rate 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00%1 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.98937 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 23 TIF DISTRICT 817 County R9 ITIF DISTRICT 817 Gateway East City Fund 468 Gateway East Redevelopment District 2001-1212028 TOTALS TIF Plan To End Budget of District 2018 2019 2020 2021 2022 2023 2024 2025 Fund Balance (579,402) (559,484) (539,565) (519,647) (499729) (479,811) (459,892) (439,974) Revenues: Inflation Tax Increment(TI) 0.WA 2,000,000 688,371 22,131 22,131 22,131 22,131 22,131 22,131 22,131 22,131 Market Value Homestead Credit(MVHC) 42,977 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 26,092 Investment Earnings 200,000 17,350 0 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 1 0 Annual Revenues 2,200,000 774,790 22,131 22,131 22,131 22,131 22,131 22,131 22,131 22,131 Expenses Land/building acquisition 627,500 602,963 Site improvements/prep.cost 1,000,000 26,966 Installation of public utilities 665,000 264,638 Parking facilities 1 0 Streets and sidewalks 253,610 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI'% 200,000 190,506 2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213 Professional Services 40,149 School Dist.referendum reimb 0 Interest Expense" 9,814 0 0 0 0 0 0 0 0 Transfers Out 56 Debt Service-Bonds 3,819,166 0 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 6,565,276 1,135;091 _2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213 Annual Increase/Decrease (4,365,276 (360,301 19,918 19,918 19,918 19,918 19,918 19,918 19,918 19,918 Ending Fund Balance (360,301)_ (559,484) (539,565) (519,647) (499,729) (479,811) (459,892 (439,974) (420,056) 0 Net Present Value 0.00% (360,301) CASH Balance •Interest Earnings on Beg of Yr balance 0.0% 0.0% 0.0%1 0.0% 0.0% 0.0% 0.0% 0.0% Interest Expense on negative fund balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 27.7% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%1 10.0% 10.0% Administrative Fees-Cumulative Estimated 36.0% 34.9% 33.8% 32.8% 31.9% 31.1% 30.3% 29.6% Est.Original Market Value 346,800 346,800 346,800 346,800 346,800 346,800 346,8001 346,800 Original Tax Capacity 1 3,468 3,468 3,468 3,468 3,468 3,468 3,468 3,468 Total Market Value 2,591,801 1 2,591,801 2,591,801 1 2,591,801 2,591,801 2,591,801 2,591,801 2,591,801 Estimated Tax Capacity 25,918 25,918 25,918 25,918 25,918 25,918 25,918 25,918 Captured Tax Capacity 22,450 22,450 22,450 22,450 22,450 22,450 22,450 22,450 Calculated Tax Increment 22,131 22,131 22,131 22,131 22,131 22,131 22,131 22,131 Variance 0 0 0 0 0 0 Tax Rate 0.98937 1 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 0.98937 Tax Collection Rate 99.64% 99.64°x6 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation. 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.98937 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 24 TIF DISTRICT#18 County U4 TIF DISTRICT#18 Gateway West City Fund 470 Gateway West Redevelopment District 2005-12/2033 TOTALS TIF Plan To End Actual Actual Actual Projected-----a Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance (1,514,583) (1,505,633) (1,513,136) ##44 (1,106,747) (1,014.185) (945,896) (930,214) Revenues: Inflation TI reduced by impact of limited MV starting 2012 Tax Increment(TI) 0.00 2,000,000 408,405 10,138 7,870 7,035 8,081 8,087 13,423 17,424 20,092 Market Value Homestead Credit(MVHC) 2,318 587 943 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 358,316 .Investment Eamings' 20,000 5,034 72 1,412 799 210 817 1,280 0 0 Change in FMV of investments 0 4 lotsi 3 lots 2 lots Sales/lease proceeds 593,471 19,649 120,0001 90,000 60,000 Transfers in 262,907 262,907 Transfer from TIF#7 Annual Revenues 2,020,000 1,630,451 10,797 10,225 290,390 128,291 98,904 74,703 17,424 20,092 Expenses Land/building acquisition 1,800,000 1,854,762 final asphalt mowing Site improvements/prep.cost 300,000 72,398 6,371 4,640 Installation of public utilities 100,000 0 Parking facilities 1 0 Streets and sidewalks 100,000 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI'% 100,000 327,559 1,847 11,358 704 808 809 1,342 1,742 2,009 Professional Services 0 School Dist.referendum reimb 0 Interest Expense 61140 5,534 5,071 0 0 Transfers Out (125) Debt Service-Bonds 1,150,000 0 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 3,550,000 2,271,338' 201 17.729 5,344 6,949 6,342 6,413 1,742 2,009 Annual Increase/Decrease (1,530,000 (640,88 ' 0 (7,503) 285,046 121,343 92,562 68,289 15,682 18,083 Ending Fund Balance 640,887) '1,505,633) (1,513,136) (1,228,090) (1,014,185) (945,896) (930,214) (912,131) (0) CASH Balance 1 13,476 206,972 42,019 163,362 255,924 324,213 "Interest Earnings(on Beg of Yr balance 1.4% 10.5% 0.4% 0.5% 0.5% 0.5% 0.0% 0.0% `*Interest Expense on negative fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual 80.2% 18.2% 144.3% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 1114.2% 882.0% 728.3% 607.4% 521.2% 422.5% 339.8%1 277.9% Original Market Value 979,500 979,500 979,500 1 835,500 835,500 835,500 835,500 835,500 Original Tax Capacity 1 4,258 4,258 4,2581 2,819 2,819 2,819 2,819 2,819 Total Market Value 1,482,400 1,383,400 1,310,664 1,160,400 1,161,075 1,741,075 2,176,075 2,466,075 Estimated Tax Caparu 1 14,824 13,834 13,107 11,604 11,611 17,411 21,761 24,661 Captured Tax Capadty 10,566 9,576 8,849 8,785 8,792 14,592 18,942 21,842 Calculated Tax Increment 9,720 8,809 8,140 8,081 8,087 13,423 17,424 20,092 Variance 1,005 4 1,105 0 0 0 0 0 Tax Rate 1 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.000/0 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.92322 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 25 TIF DISTRICT#18 County U4 TIF DISTRICT#18 Gateway West City Fund 470 Gateway West Redevelopment District 2005-1212033 TOTALS TIF Plan To End Budget of District 2018 2019 2020 2021 2022 2023 2024 Fund Balance (912,131) (894,048) (875,965) (857,882) (839,799) (821,716) (803,633) Revenues: Inflation Tax Increment(TI)1 0.00% 2,000,000 408,405 20,092 20,092 20,092 20,092 20,092 20,092 20,092 Market Value Homestead Credit(MVHC) 2,318 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 358,316 Investment Eamings` 20,000 5,034 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 593,471 Transfers In 262,907 Annual Revenues 2,020,000 1,630,451 20,092 20,092 20,092 20,092 20,092 20,092 20,092 Expenses Land/building acquisition 1,800,000 1,854,762 Site improvements/prep.cost, 300,000 72,398 Installation of public utilities 100,000 0 Parking facilities 1 0 Streets and sidewalks 100,000 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI`% 100,000 327,559 2,009 2,009 2,009 2,009 2,009 2,009 2,009 Professional Services 0 School Dist.referendum reimb 0 Interest Expense'• 16,745 0 0 0 0 0 0 0 Transfers Out (125) Debt Service-Bonds 1,150,000 0 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 3,550,000 2,271,338 2,009 2,009 2,009 2,009 2,009 2,009 2,009 Annual Increase/Decrease (1,530,000 (640,887) 18,083 18,083 18,083 18,083 18,083 18,083 18,083 Ending Fund Balance (640, 7) (894,048) (875,965) (857,882) (839,799) (821,716) (803,633) (785,550) (0) CASH Balance 'Interest Earnings on Beg of Yr balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Interest Expense on negative fund balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 80.2% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 235.6% 204.8% 181.4% 163.0% 148.2% 136.0% 125.8% Original Market Value 835,500 835,500 835,500 835,500 835,500 835,500 835,500 Original Tax Capacity 2,819 2,819 2,819 2,819 2,819 2,819 2,819 Total Market Value 2,466,075 2,466,075 2,466,075 2,466,075 2,466,075 2,466,075 2,466,075 Estimated Tax Capacity 24,661 24,661 24,661 24,661 24,661 24,661 24,661 Ca ptured Tax Ca 21,842 21,842 21,842 21,842 21,842 21,842 21,842 Calculated Tax Increment 20,092 20,092 20,092 20,092 20,092 20,092 20,092 Variance 0 0 0 0 0 0 Tax Rate 0.92322 0.92322 1 0.92322 0.92322 0.92322 0.92322 0.92322 Tax Collection Rate 1 99.64% 99.64% 99.64% 99.64% 99.64%1 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.92322 Fridley Cash Flow 2013c.x1sx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 26 TIF DISTRICT 919 County U8 TIF DISTRICT#19 5110 Main St NE(Ind City Fund 472 5110 Main St NE(Ind Eq) Redevelopment District 2007-1212034 TOTALS TIF Plan To End Actual Actual Actual Projected Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 2018 Fund Balance 27,541 (18,138) (4,012) (3,395) (3,171) (2,945) (2,717 (2,717) (2,717) Revenues: Inflation Tax Increment(TI) 0. 5,000,000 1,283,323 132,854 119,153 114,687 103,668 97,247 97,247 97,247 97,247 97,247 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 50,000 5,668 482 3,794 521 241 242 243 0 0 0 Change in FMV of investments 0 SalesAease proceeds 0 Transfers In 0 Annual Revenues 5,050,000 1,288,991 133,336 122,947 115,208 103,909 97,489 97,490 97,247 97,247 97,247 Expenses Land/building acquisition 600,0001 0 Site improvements/prep.cost 900,000 0 Installation of public utilities 0 Parking facilities 1 550,000 0 Streets and sidewalks 0 5 yr rule extended to 10 yrs for this TIF District Public park facilities 0 Distract could!toy open beyond 2019 for eligible Other public improvements 0 costs incurred cvcommitted to by 2016 Admin Fees-City/HRA(TI*%1 500,000 137,217 863 1,584 11,459 10,367 8,725 9,725 9,725 9,725 9,725 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense** 48 17 16 15 0 0 0 Transfers Out 0 Debt Service-Bonds 2,500,000 0 Debt Service-Rev.Notes 1,154,444 178,152 107,238 11,132 93,301 87,523 87,523 87,523 87,523 87,523 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 5,050,000 1,291,708 179,015 108,822 . 114,591 103,685 97,263 97,262 97,247 97,247 97,247 Annual Increase/Decrease 01T (45,67,q) 14,126 617 224 226 228 0 0 0 Ending Fund Balance (2,717) 18,138) (4,012) (3,395) (3,171) (2,945) (2,717) (2,717) (2,717) (2,717 (0) CASH Balance 85,980 114,2961 48,142 48,365 48,591 48,820 *Interest Earnings on Beg of Yr balance 0.7% 4.4% 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% 0.0% **Interest Expense on negative fund balance Actual Actual 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% 0.0% Administrative Fees-Annual 1 10.7% 0.6% 1.3% 0.0% 10.0% 10.0% 10.0% 10.0% 10.0°10 10.0% Administrative Fees-Cumulative Estimated 17.3% 12.3% 11.8% 11.5% 11.3% 11.1% 11.0% 10.90/0 10.8% Original Market Value 12,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 Original Tax Capacity 45,628 45,628 45,628 45,628 45,628 45,628 45,628 45,628 45,628 Total Market Value 27-30-24-14-0006 10,029,700 9,244,200 9,010,900 8,333,200 7,960,700 7,960,700 7,960,700 7,960,700 7,960,700 Estimated Tax Ca a ' 199,844 184,134 179,468 165,914 158,464 158,464 158,464 158,464 158,464 Captured Tax Capacity 154,216 138,506 133,840 120,286 112,836 112,8361 112,836 112,836 112,836 Calculated Tax Increment 132,910 119,371 115,349 103,668 97,247 97,247 97,247 97,247 97,247 Variance 56 218 662 0 0 0 0 0 0 Tax Rate 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%1 0.00% 0.00% Certified Tax Rate 0.86496 est MV was 14,538,240 ICOMMERCIAL/INDUSTRIAL UPDATED UPDATED UPDATED UPDATED UPDATED Fridley Cash Flow 2013c.xtsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 27 TIF DISTRICT#19 County U8 TIF DISTRICT#19 5110 Main St NE(Ind City Fund 472 5110 Maln St NE(Ind Eq) Redevelopment District 2007-1212034 TOTALS TIF Plan To End Budget of District 2019 2020 2021 2022 2023 2024 2025 Fund Balance (2,717) (2,717) (2,717) (2,717) (2,717) (2,717) (2,717) If no further expenses are incurred Revenues: Inflation TIF district should be decertified Tax Increment(TI) 0.00%1 5,000,000 1,283,323 97,247 97,2471 01 0 0 0 0 Market Value Homestead Credit(MVHC) 0 after final revenue note payment. Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 50,000 5,668 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 0 Annual Revenues 5,050,000 1,288,991 97,247 97,247 0 0 0 0 0 Expenses Land/building acquisition 600,000 0 Site improvements/prep.cost 900,000 0 Installation of public utilities 0 Parking facilities 1 550,000 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 500,000 137,217 9,725 9,725 0 0 0 0 0 Professional Services 0 School Dist.referendum reimb 0 Interest Expense" 48 0 0 0 0 0 0 0 Transfers Out 0 Debt Service-Bonds 2,500,000 0 Debt Service-Rev.Notes 1,154,444 87,523 87,523 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 5,050,000 1;281,708 97,247 . 97,247 0 0 0 0 0 Annual Increase/Decrease A (2,717) 0 0 0 0 0 0 0 Ending Fund Balance 717) (2,717) (2,717) (2,717) (2,717) (2,717) (2,717) (2,717) (0) CASH Balance "Interest Earnings on Beg of Yr balance 0.0% 0.0% **Interest Expense on negative fund balance 0.0% 0.0°x6 Administrative Fees-Annual 10.7% 10.0% 10.0% Administrative Fees-Cumulative Estimated 10.7% 10.7% 10.7% 10.7% 10.7% 10.7% 10.79/6 Ori ginal Market Value 2,318,900 2,318,900 Original Tax Capacity 45,628 45,628 Total Market Value 27-30-24-14-0006 1 7,960,700 7,960,700 Estimated Tax Capa9-itx 158,464 158,464 -Captured Tax Capacity 112,836 112,836 Calculated Tax Increment 97,247 97,247 Variance 0 #VALUE! 0 0 0 Tax Rate 1 0.86496 0.86496 Tax Collection Rate 99.64% 99.64% Inflation 0.00% 0.00% Certified Tax Rate 0.86496 1 USTRIAL Fridley Cash Flow 2013c xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 28 TIF DISTRICT#20 County TIF DISTRICT#20 SAE Site(RER) City Fund BAE Site(RER) Redevelopment District 2012- TOTALS TIF Plan To End Actual Actual Projected------> Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 0 0 0 0 0 0 0 0 Revenues: Inflation Tax Increment(TI) 0. 0 0 0 0 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings* 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 0 Annual Revenues 0 0 0 0 0 0 0 0 0 0 Expenses Land/building acquisition 0 Site Improvements/prep.costs 0 Installation of public utilities 0 Parking facilities 1 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*%) 01 0 0 0 0 0 0 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense" 0 0 0 0 0 0 0 Transfers Out 0 Debt Service-Bonds 0 Debt Service-Rev.Notes 0 0 0 0 0 0 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 0 0 0 0 0 0 0 0 0 0 Annual Increase/Decrease 0 0 0 0 0 0 0 0 0 0 Ending Fund Balance 0 0 0 0 0 0 0 0 0 CASH Balance Interest Earnings on Beg of Yr balance 0.0% 0.5% 0.5% 0.5°x6 0.0% 0.0% **Interest Expense on negative fund balance 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% Administrative Fees-Annual #DIV/0! 0.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated Original Market Value 0 0 0 0 0 0 Original Tax Capacity 0 0 0 0 0 Total Market Value 0 1 0 0 0 0 0 0 Estimated Tax Ca pa 0 0 0 0 0 0 Captured Tax Capacity 0 0 0 0 0 0 Calculated Tax Increment 0 0 0 0 1 0 0 Variance 0 0 0 0 0 0 Tax Rate 1.12652 1.29928 1.29928 1.29928 1.29928 1.29928 Tax Collection Rate 99.64%J 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 1.29928 ICOMMERCIAL LOUSTRIAL Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 29 TIF DISTRICT#21 TIF DISTRICT#21 Gateway Northeast City Fund 474 Gateway Northeast Redevelopment District 2012- TOTALS TIF Plan To End Actual Actual Actual Projected-----> Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 0 (1,122,024) (1,158,987) Revenues: Inflation Tax Increment(TI) 0.00% 0 0 0 0 0 0 0 Market Value Homestead Credit(MVHC) 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 0 Investment Earnings• 10,717 3,038 2,140 979 1,520 1,520 1,520 01 0 Change in FMV of investments 0 Sales/lease proceeds 0 Transfers In 0 Annual Revenues 0 10,717 3,038 2,140 979 1,520 1,520 1,520 0 0 Expenses Land/buildingacquisition 1,147,899 1,005,874 121,328 20,697 Site improvementstprep.costs 4,548 4,548 Installation of public utilities 0 mowing Parking facilities 1 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI•%) 0 0 0 0 0 0 Professional Services 1 0 School Dist.referendum reimb 0 Interest Expense"• 17,258 5,731 5,753 5,774 0 0 Transfers Out 0 Debt Service-Bonds 0 Debt Service-Rev.Notes 0 0 0 0 0 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 0 Annual Expenses 0 1,169,704 1,005 74 121,328 25,245 5,731 5,753 5,774 0 0 Annual increase/Decrease 0 1,158,987) (1,002,836) (119,188) (24,266) (4,211) (4,232) (4,253) 0 0 Ending Fund Balance (1,158,987) (1,002,836) (1,146,290) � (1,158,987) 0 CASH Balance 447,164 327,977 304,035 304,035 304,035 304,035 Interest Earnings on of Yr balance 0.5% 0.5% 0.3% 0.5°x6 0.5% 0.5% 0.0°� 0.0% Interest Expense on negative fund balance Actual Actual Actual 0.5% 0.5°x6 0.5% 0.0% 0.0% Administrative Fees-Annual #DIV 10! 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated Ori ginal Market Value 0 0 0 0 0 0 Original Tax Capacity 0 0 0 0 0 0 Total Market Value 37,500 37,500 37,500 37,500 37,500 37,500 37,500 37,500 Estimated Tax Ca ac' 01 0 0 01 0 0 0 0 Captured Tax Capacity 0 0 0 0 0 0 0 0 Calculated Tax Increment 0 0 0 0 0 0 01 0 Variance 0 0 0 0 0 0 0 0 Tax Rate 0 0 0 0 0 0 0 0 Tax Collection Rate 99.64%1 99.64% 99.64% 99.64%1 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 0.00000 ICOMMERCIAL/1 T Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 30 Housing Replacement County o4,o5,o6,Q2,Q9,ots3,s4,s5,s6,r7Housing Replacement Housing F Program City Fund 501 Program Program Housing District 7/18M 996-12/2022 TOTALS (15 year max TI per parcel) TIF Plan Through Actual Actual Actual Projected---> (100 maximum#of parcels) Budget 2025 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Fund Balance 304,247 132,067 (9,561)1 172,257 195,150 211,002 226,934 238,811 250,688 256,555 Revenues: Inflation TI reduced by impact of limited MV starting 2012 Tax Increment(TI) 0.00%1 438,421 405,707 28,020 27,481 26,395 21,146 13,197 13,197 13,197 13,197 6,519 6,519 Market Value Homestead Credit(MVHC) 23,299 2,695 2,850 Bond Proceeds 0 Loan Proceeds 724,445 Other Revenues 768,750 4,187 Investment Earnings" 81,688 890 965 4,372 3,861 3,976 4,055 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 670,779 143,034 268,849 Transfers In 2,123,130 860,455 Annual Revenues 3,330,301 2,770,560 31,605 174,330 299,617 25,007 17,172 17,252 13,197 13,197 6,519 6,519 Expenses Land/buildingacquisition 2,250,000 1,242,326 146,421 221,486 104,509 Site Improvements/prep.costt 575,000 173,373 6,788 Installation of public utilities 125,000 0 mowing Parking facilities 1 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI'% 125,000 343,507 57,364 94,472 6,562 2.115 1,320 1,320 1,320 1,320 652 652 Professional Services 0 School Dist.referendum reimb 0 Interest Expense" 0 0 0 0 0 0 0 0 Transfers Out 724,805 Debt Service-Bonds 0 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 3,006 Annual Expenses 3,075,000 2,487,016 203,785 .316 117,799 2,115 1,320 1,320 1,320 1,320 652 652 Annual Increase/Decrease 255,301 _:2ti3,544 172,t80 141,628) 181,818 22,893 15,853 15,932 11,877 11,877 5,867 5,867 Ending Fund Balance 283,544 13.2;067 (9,561) 172,257 195,150 211,002 226,934 238,811 250,688 256,555 262,422 0 1,121 CASH Balance 159,796 590,922 772,257 795,150 811,003 826,935 0 Interest Earnings(on Beg of Yr balance 0.3% 0.0% 0.0%1 0.5% 0.5% 0.5% 0.0% 0.0% 0.0% 0.0% " Interest Expense on negative fund balance Actual 0.0% 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 84.7% 204.7% 0.0% 0.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 95.9% 121.2% 112.6% 105.7% 101.9% 98.4% 95.1% 92.1% 90.6% 89.3% Est.Original Market Value 1 552,800 552,800 552,800 402,900 253,700 253,700 253,700 253,700 64,000 64,000 Original Tax Capacity 1 5,528 5,528 5,528 4,029 2,537 2,537 2,537 2,537 640 640 Total Market Value 3,515,200 3,265,100 2,771,898 1,863,955 1,185,497 1,165,497 1,165,497 1,165,497 514,397 514,397 Estimated Tax Capacity 35,152 32,651 1 27,719 18,640 11,655 11,655 11,655 11,655 5,144 5,144 Captured Tax Capacity 29,624 27,123 22,191 14,611 9,118 9,118 9,118 9,118 4,504 4,504 Calculated Tax Increment 32,078 32,277 28,231 21,146 13,197 1 13,197 13,197 13,197 6,519 6,519 Variance 1,363 1,946 1,836 0 0 Tax Rate Average 1.08674 1.19431 1.27678 1.45255 1.45255 1.45255 1.45255 1.45255 1.45255 1.45255 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%1 0.00% 0.00% 0.00°k Certified Tax Rate 041 1.17662 051 1.13880 061 1.25065 Fridley Cash Flow 2013c.xisx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 31 Housing Replacement County 04,o5,o6,42,Q3,Q4,s3,s4,s5,s6,77te iacement Program City Fund 501 Housing District 711811996-1212022 TOTALS (15 year max T/per parcel) TIF Plan Through (100 maximum#of parcels) Budget 2025 2020 2021 2022 2023 2024 2025 2026 Fund Balance 262,422 268,289 274,156 279,372 283,544 283,544 283,544 Revenues: Inflation Tax Increment(TI) 0.00% 438,421 405,707 6,519 6,519 5,795 4,636 0 0 0 Market Value Homestead Credit(MVHC) 23,299 Bond Proceeds 0 Loan Proceeds 724,445 Other Revenues 768,750 4,187 Investment Earnings` 81,68811 0 0 0 0 0 0 0 Change in FMV of investments 0 Sales/lease proceeds 670,779 Transfers In 2,123,130 860,455 Annual Revenues 3,330,301 2,770,560 6,519 6,5191 5,795 4,636 0 0 0 Expenses Land/building acquisition 2,250,000 1,242,326 Site improvements/prep.cost 575,000 173,373 Installation of public utilities 125,000 0 Parking facilities 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/HRA(TI*% 125,000 343,507 652 652 580 464 0 0 0 Professional Services 0 School Dist.referendum reimb 0 Interest Expense'* 0 0 0 0 0 0 0 0 Transfers Out 724,805 Debt Service-Bonds 0 Debt Service-Rev.Notes 0 Debt Service-Other 0 Interfund loans 0 Other Expenses 3,006 Annual Expenses 3,075,000 652 652 580 464 0 0 0 Annual Increase ase/Decrease 255,301 283,544 ,867 5,867 5,216 4,173 0 0 0 Ending Fund Balance 544 268,289 274,156 279,372 283,544 283,544 283,544 283,544 0 1,121 CASH Balance `interest Earnings(on Beg of Yr balance 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.00A '*Interest Expense on negative fund balance 0.0% 0.0°x6 0.0% 0.0% 0.0% 0.0% 0.0% Administrative Fees-Annual 84.7% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 87.9% 86.6% 85.5% 84.7% 84.7% 84.7% 84.7% Est.Original Market Value 64,000 64,000 0 0 0 0 0 Original Tax Capacity 640 640 0 0 0 0 0 Total Market Value 514,397 514,397 320,339 320,339 0 0 0 Estimated Tax Capacity 5,144 5,144 4,004 3,203 0 0 0 Captured Tax Capacity 4,504 4,504 4,004 3,203 0 0 0 Calculated Tax Increment 6,519 6,519 1 5,795 4,636 0 0 0 Variance Tax Rate Average 1.45255 1.45255 1.452552 1.452552 1.452552 1.452552 1.452552 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Certified Tax Rate 04 1.17662 05 1.13880 O6 1.25065 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 32 HRA HRA Revolving Loan Fun City Fund 265 Revolving Loan Fund (Special Revenue Fund) Jhh Actual Actual Actual Projected 2010 2011 2012 2013 2014 2015 2016 2017 2018 Fund Balance 4,120,629 3,892,374 3,859,019 3,909,535 4,156,183 4,204,064 4,252,184 4,284,562 4,316,940 Revenues: Inflation Tax Levy 0.00%Market Value Homestead Cre Property taxes Rental Mortgage interest earnings 1,566,062 50,778 47,073 45,021 45,021 45,021 45,021 45,021 45,021 45,021 Investment Earnings* 1,065,040 16,126 26,773 18,138 14,270 15,503 15,742 0 0 0 Miscellaneous H&G show 634,391 21,085 22,870 18,544 18, 44 1$,544 18,544 18,544 18,544 18,544 1 Sales/lease proceeds 263,591 2aft Flom dat demo Transfers In 6,591,712 0 0 0 0 01 0 0 0 0 Annual Revenues 12,035,597 87,989 96,717 81,703 277,835 79,068 79,308 63,565 63,565 63,565 Expenses Capital outlay 353,823 209,802 Home remodel demo Site improvements/prep.cost 0 Installation of public utilities 0 Parking facilities 1 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees-City/FiRA(TI*% 0 Personal services 1 276,305 estimate estimate estimate estimatel estimate estimate Supplies&other charges 1,556,805 106,442 _ 11,0 2 1,187 31,187 31,187 31,187 31,187 31,187 31,187 Interest Expense*'n crtyLoan 407,189 Transfers Out 4,783,319 Principal Payment Interest Expense 0 Debt Service-City Loan 621,734, Done Interfund loans 0 Other Expenses (539,542) Done Annual Expenses 7,459,633 =192" 130,072 31,187 31,187 31,187 31,187 31,187 31,187 31,187 Annual Increase/Decrease 4,575,964 (228,255) (33,355 50,516 246,648 47,881 48,120 32,378 32,378 32,378 Ending Fund Balsnc * 4,575,964 3,802 74 3,W9,019 3,909,535 4,156,183 4,204,064 4,252,184 4,284,562 4,316,940 4,349,318 0 *if all funds are not required,they could be returned to HRA General Fund CASH Balance 2,845,956 2,801,309 2,853,960 3,100,608 3,148,489 3,196,609 0 *Interest Earnings(on Beg of Yr balance 0.5 0.0% 0.0% 0.5% 0.5% 0.5%1 0.0% 0.0% 0.0% **Interest Expense on negative fund balance Actual 0.0%1 0.0% 0.5% 0.5% 0.5%1 0.0% 0.0% 0.0% Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 33 HRA HRA General Fund City Fund 100 General Fund TOTALS Through Actual Actual Actual Projected--a 2025 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 6,786,388 7,146,955 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 Revenues: Inflation Tax Increment(TI) 0.00 0 Market Value Homestead Cre 0 Bond Proceeds 0 Loan Proceeds 0 Other Revenues 13,219,748 509,171 867,695 620,527 577,749 572,576 571,697 534,311 534,577 Investment Earnings* 2,644,627 17,955 28,656 21,946 19,009 20,335 21,640 0 0 Change in FMV of investmentl 0 TIF 06 OTC a4 2013/pet adjusted In 2012 Sales/lease procee medironli 3,069,828 233,170 436,398 144,324 132,591 1 132,227 132,227 132,227 132,227 Transfers In 12,397,646 rkrw/awsala ind Pkg lot Med.Sales mt increases to 22.22% Annual Revenues 31,331,849 760,296 1,332,748 786,798 729,350 725,138 725,564 666,537 666,804 Expenses Land/building acquisition 3,700,867 Site improvements/prep.cost 0 Installation of public utilities 0 Parking facilities 1 0 Streets and sidewalks 0 Public park facilities 0 Other public improvements 0 Admin Fees 1 0 Professional Services 0 School Dist.referendum reiml 0 Interest Expense** 0 Transfers Out 4,774,036 0 0 0 0 0 0 0 0 Debt Service-Bonds 0 0 0 0 0 0 0 0 0 Debt Service-Rev.Notes 0 Debt Service-City Loan 0 interfund loans 0 Other Expenses 11,764,649 399,729 410,497 464,155 464,155 464,155 464,155 464,155 464,155 Annual Expenses 20,239,552 398,229 �t#ff, 87 464,155 464,155 464,155 464,155 464,155 464,155 Annual Increase/Decrease 11,092,28 -389,W7 922,251 322,642 265,195 260,983 261,409 202,382 202,649 Ending Fund Balance 11,092; 7,146,9.5 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 9,584,465 Debt Service Reserve(next yrs Bonds) 0 0 0 0 0 0 0 0 Ending Fund Balance After Debt Service 7,146,955 8,069,206 8,391,849 8,657,043 8,918,026 9,179,434 9,381,816 9,584,465 CASH Balance 1 1 2,128,887 2,622,505 3,801,869 4,067,064 4,328,046 4,589,455 0 *Interest Earnings on Beg of Yr balance 0.7%-0.0%J 0.0% 0.5°x6 0.5% 0.5% 0.0% 0.0% **Interest Expense on negative fund balance Actual 0.0%1 0.0% 0.5% 0.5% 0.5% 0.0% 0.0% Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 34 TIF Districts&HRA General Fund TIF Districts&HRA General Fund Fund Balance Summary Fund Balance Summary TOTALS TIF Plan To End Actual Actual Actual Projected----> Budget of District 2010 2011 2012 2013 2014 2015 2016 2017 Fund Balance 0 12,301,644 8,617,777 9,669,188 10,797,679 11,836,001 12,652,485 13,447,616 13,818,999 Revenues: Inflation Tax Increment(TI)1 0.00% 179,505,308 83,270,981 1,742,816 1,736,410 1,488,534 1,271,226 1,219,492 1,224,828 921,568 924,235 Market Value Homestead Credit(MVHC) 240,508 12,657 13,088 0 0 0 0 0 0 Bond Proceeds 22,391,753 34,879,264 0 0 0 0 0 0 0 1 0 Loan Proceeds 0 11,995,469 0 0 0 0 0 0 0 0 Other Revenues 3,468,750 15,768,048 1 559,949 914,768 665,549 622,771 617,597 616,719 579,332 579,599 Investment Earnings• 17,435,000 5,732,942 61,388 87,674 60,869 49,952 55,397 59,501 0 0 Misc rev/Chg in FMV of inve 0 634,391 21,085 22,870 18,544 18,544 18,544 18,544 18,544 18,544 Sales/lease procee Medtronic 10,210,000 10,252,277 233,170 629,431 432,822 452,591 222,227 192,227 132,227 132,227 Transfers In 31,519,136 40,778,465 0 0 262,907 01 0 0 0 0 Annual Revenues 264,529,947 203,552,345 2,631,065 3,404,241 2,929,225 2,415,083 2,133,257 2,111,818 1,651,670 1,654,604 Expenses Land/building acquisition 55,805,620 38,211,684 1,362,097 342,814 125,206 0 0 0 0 0 Site improvementstprep.cost 35,017,284 6,664,156 0 6,371 15,976 0 0 0 0 0 Installation of public utilities 6,660,828 1,560,472 0 0 0 0 0 0 0 0 Parking facilities 1 76,483,909 290,065 0 0 0 0 0 0 0 0 Streets and sidewalks 5,932,904 4,050 0 0 0 0 0 0 1 0 0 Public park facilities 467,202 4,050 0 0 0 0 0 0 0 0 Other.public improvements 0 803,750 0 0 0 0 0 0 0 0 Admin Fees-City/HRA(TI*% 17,440,000 4,837,311 65,898 498,092 153,140 127,123 121,949 122,483 92,157 92,424 Professional Services 01 391,538 0 0 0 0 0 0 0 0 Supplies&other charges 01 4,736,074 106,442 130,072 ,187 31,187 31,187 31,187 31,187 31,187 Interest Expense"' 0 458,177 0 0 0 17,729 16,940 16,319 0 0 Transfers Out 2,122,500 12,981,884 1,515,223 0 262,907 0 0 0 10,245 0 Debt Service-Bonds 171,332,945 59,014,364 1,758,683 0' 0 0 0 0 0 0 Debt Service-Rev.Notes 13,435,052 17,752,364 1,106,860 944,9&1 748;154 689,961 682,542 682,542 682,542 682,542 Debt Service Other 0 6,066,285 0 0 0 0 0 0 0 0 Interfund loans 0 10,251,757 1 0 0 0 0 0 0 0 0 Other Expenses 6,055,000 22,756,3 A 399,,; 410,' 464,155 510,762 464,155 464,155 464,155 464,155 Annual Expenses 390,753,244 186,784,3 6,3 n 0 1,800,734 1,376,762 1,316,773 1,316,687 1 1,280,286 1,270,308 Annual Increase/Decrease (126,223,297) 16,768, (3, 1368) 1,051,411 1,128,491 1,038,322 816,484 795,131 371,384 384,296 119,293 Ending Fund Balance 16,768,025 ,617,777 9,669,188 10,797,679 11,836,001 12,652,485 13,447,616 13,818,999 14,203,296 Debt Service Reserve(next yrs Bonds) 0 0 0 0 0 0 0 0 Ending Fund Balance After Debt Service 8,617,777 9,669,188 110,797,679 11,836,001 12,652,485 13,447,616 13,818,999 14,203,296 CASH Balance 1 8,106,540 9,018,617 10,036,934 11,079,467 •Interest Earnings(on Beg of Yr balance 0.5% 1.1% 0.7% 0.5% 0.5% 0.5% 0.5% 0.5% -Interest Expense on negative fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.5% 0.5% Administrative Fees-Annual 1 5.8% 3.8% 28.7% 10.3% 10.0% 10.0% 10.0% 10.0% 10.0% Administrative Fees-Cumulative Estimated 4.4% 5.0% 5.1% 5.2% 5.3% 5.3% 5.4% 5.5% Est Original Market Value 15,337,800 15,337,800 27,495,800 26,738,060 26,589,100 26,589,100 23,782,300 1 23,782,300 Original Tax Capacityl 267,907 268,163 511,323 502,264 500,772 500,772 450,562 450,562 Total Market Value 1 112,801,400 106,950,800 103,342,575 86,862,706 83,504,529 84,084,529 66,032,845 66,322,845 Estimated Tax Capacity 2,096 157 1,992,025 1,929,830 1,628,913 1,578,560 1,584,360 1,226,857 1,229,757 Fiscal Disparities-TIF#3 0 0 0 0 0 0 0 0 Captured Tax Ca 1,828,250 1,723,862 1,418,507 1,126,649 1,077,788 1,083,588 776,295 779,195 Calculated Tax Increment 1,807,468 1,758,860 1,508,078 1,271,226 1,219,492 1,224,828 921,568 924 235 Variance 51,995 9,361 19,544 0 0 0 0 0 Tax Collection Rate 99.64%1 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Schedule Payment-Max Amount Owed-TIF#12 0 0 0 0 0 01 0 0 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 CITY OF FRIDLEY,MINNESOTA Page 35 TIF Districts&HRA General Fund TIF Districts&HRA General Fund Fund Balance Summary Fund Balance Summary TOTALS TIF Plan To End Budget of District 2018 2019 2020 2021 2022 2023 2024 2025 Fund Balance 0 14,203,296 14,580,914 14,909,023 15,209,665 15,500,582 15,790,775 16,079,809 16,330,749 Revenues: Inflation Tax Increment(TI)1 0.00%1179,505,308 83,270,981 917,557 868,048 840,580 743,333 742,610 741,451 703,356 703,356 Market Value Homestead Credit(MVHC) 240,508 0 0 0 0 0 0 0 0 Bond Proceeds 22,391,753 34,879,264 0 0 0 0 0 0 0 0 Loan Proceeds 0 11,995,469 0 0 0 0 0 0 0 0 Other Revenues 3,468,750 15,768,048 1 578,931 573,980 571,233 561,509 561,436 561,320 557,511 557,511 Investment Earnings 17,435,000 5,732,942 0 0 0 0 0 0 0 0 Misc rev/Chg in FMV of inve 0 634,391 18,544 18,544 18,544 18,544 18,544 18,544 18,544 18,544 Salestlease procee Medtronlc 10,210,000 10,252,277 132,227 132,227 132,227 132,227 132,227 132,227 132,227 132,227 Transfersln 31,519,136 40,778,465 0 0 0 0 0 0 0 0 Annual Revenues 264,529,947 203,552,345 1,647,259 1,592,798 1,562,584 1,455,612 1,454,816 1,453,541 1,411,638 1,411,638 Expenses Land/building acquisition 55,805,620 38,211,684 0 0 0 0 0 0 0 0 Site improvements/prep.cost, 35,017,284 6,664,156 0 0 0 0 0 0 0 0 Installation of public utilities 6,660,828 1,560,472 0 0 0 0 0 0 0 0 Parking facilities 1 76,483,909 290,065 0 0 0 0 0 0 0 0 Streets and sidewalks 5,932,904 4,050 0 0 0 0 0 1 0 0 0 Public park facilities 467,202 4,050 0 0 0 0 0 0 0 0 Other public improvements 0 803,750 0 0 0 0 0 0 0 0 Admin Fees-City/HRA(TI•% 17,440,000 4,837,311 91,756 86,805 84,066 74,333 74,261 74,145 70,336 70,336 Professional Services 0 391,538 0 0 0 0 0 , 0 0 0 Supplies&other charges 0 4,736,074 31,187 31,187 31,187 31,187 31,187 31,187 31,187 31,187 Interest Expense" 0 458,177 0 0 0 0 0 0 0 1 0 Transfers Out 2,122,500 12,981,884 0 0 0 0 0 0 0 0 Debt Service-Bonds 171,332,945 59,014,364 0 Q 0 0 0 0 01 0 Debt Service-Rev.Notes 13,435,052 17,752,364 682,542 092,542 682,642 595,020 595,020 595,020 595,020 595,020 Debt Service-Other 0 6,066,285 0 0 0 0 0 0 0 0 Interfund loans 0 10,251,757 0. 0 0 0 0 0 0 Other Expenses 6,055,000 22,756,330 464,' 5 464,155 464,155 464,155 464,155 464,155 464,155 464,155 Annual Expenses 390,753,244 186,784,3 1,26-_" i' f . 9 1,261,942 1,164,695 1,164,623 1,164,507 1,160,698 1,160,698 Annual Increase Decrease (126,223,297), 1' ,768,020.5377,, 328,109 300,641 290,917 290,193 289,034 250,940 250,940 Ending Fund Balance 16,768,025 14,909,023 15,209,665 15,500,582 15,790,775 16,079,809 16,330,749 16,581,689 Debt Service Reserve(next yrs Bonds) 0 0 0 0 0 0 0 Ending Fund Balance After Debt Service 14,580,914 14,909,023 15,209,665 15,500,582 15,790,775 16,079,809 16,330,749 16,581,689 CASH Balance •Interest Earnings on Beg of Yr balance 0.5% 0.5% 0.5%1 0.5% 0.5% 0.5% 0.5% 0.5% '*Interest Expense on negative fund balance 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% Administrative Fees-Annual 5.8% 1 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.00% 10.0% Administrative Fees-Cumulative Estimated 5.5% 5.6% 5.6% 5.6% 5.7% 5.7% 5.8% 5.8% Est Original Market Value 23,592,600 22,193,700 20,093,500 17,774,600 17,710,600 17,710,600 17,566,800 17,566,800 Original Tax Ca a 448,665 422,187 380,933 335,305 334,665 334,665 333,227 333,227 Total Market Value 1 65,671,745 61,825,345 58,485,745 50,487,545 50,293,487 50,293,487 46,976,576 46,976,576 Estimated Tax Capacity 1,223,246 1,147,818 1,081,776 923,312 922,173 921,372 888,203 888,203 Fiscal Disparities-TIF#3 0 0 0 0 0 0 0 0 Captured Tax Capacity 1 774,581 725,631 700,843 588,007 587,508 586,707 554,976 554,976 Calculated Tax Increment 917,557 868,048 840,580 743,333 742,610 741,451 703,356 703,356 Variance 0 0 #VALUE! 0 0 0 0 0 Tax Collection Rate 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%1 99.64% Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Schedule Payment-Max Amount Owed-TIF#12 0 0 0 0 0 0 0 0 Fridley Cash Flow 2013c.x1sx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 9/17/2013 FRIDLEY HRA TIF DISTRICTS OVERVIEW 1/2/2013 City Original Current Fund# TIF# Name Type Development Creation Termination Market Value Market Value* Terminated TIF Districts 450 1 Center City Redevelopment Commercial,affordable rental,resid 1979 2009 7,833,600 61 306 238 451 2 Moore Lake Redevelopment 77 residential units 1981 2007 2,518,500 43 911,300 452 3 North Area Univ Ind Park Redevelo ment Commercial 2 rental p ro' 1982 2008 5,218,600 107 717 000 453 4 Johnson/S od/Frank Shec Economic Dev Johnson Printin •Sky3d8d Mall 984 1992 454 5 Paco/Paschke/E Ranch Estatt Economic Dev Commercial 4 1992 456 7 Winfield-Decertified Redevelopment 1 commercial dey men 1 86 2012 216,600 3,215 600 457 8 Shorewood Rest Economic Dev Shorewood Inn ex a rovement 1986 1996 459 10 Northco Phase III Economic Dev Commercial 1990 2000 465 14 Industrial E uities Bus.Ctr Economic Dev Commer 1996 2006 536,900 3,933,400 466 15 MN Commercial Railway Economic Dev Commerce 1997 2008 20,563 363,700 Existing TIF Districts 6111111111111111 VF 455 6 Lake Pointe Medtronic Redevelo m edt is offi evelo ment 1985 2025 4,226,500 41 918 700 458 9 Onan/Murphy Warehouse Redevelo t Mu reho ;other commercial 1989 2015 2,380,500. 17 134,784 462 11 University/Osbome Redevelo m C 1992 2018 1,398 900 3,846,40-0 463 12 McGlynn Bakeries Rede en mmercial 1992 2019 2,100,200 3 339 600 464 13 Satellite Lane A is Re t 3 idential units 1995 2023 233,400 2,996,572 467 16 57th Ave Linn evelo m 1 c6Mhercial develop ment 1997 2016 426,300 11351,900 468 17 Gateway East V%eedeMff 5 residential units 2001 2028 504,200 2,591 801 470 18 Gateway West 6 residential units(upon completion) 2005 2033 979,500 11161,075 472 19 5110 Main St NE Ind E Industrial E uities commercial bld 2007 2020 2 318 900 7 960 700 20 BAE Site RER App rox 12 commercial buildings 2012 474 21 Gateway Northeast Redevelopment Housing? 2012 22 Northstar Transit Station Distri Redevelopment Transit oriented development 2013 $3019131163 $302,748,769 Fridley Cash Flow 2013c.xlsx Prepared by Sevenich, Butler, Gerlach&Brazil, Ltd. 9/17/2013 FRIDLEY HRA TIF DISTRICTS OVER) City Frozen Tax 2013 Tax Fund# TIF# Name Rate Rate Comments Terminated TIF Districts 450 1 lCenter City 451 2 IMoore Lake 452 3 North Area Univ Ind Park 453 4 Johnson/S od/Frank She 454 5 Paco/Paschke/E Ranch Estat 456 7 Winfield-Decertified 457 8 Shorewood Rest 459 10 Northco Phase III 465 14 lindustrial Equities Bus. Ctr 466 15 MN Commercial Railway 'Existinj TIF Districts 455 6 JLake Pointe Medtronic N/A 1.29928 458 9 10nan/Murphy Wareh a AKU56 11 1.46841 Frozen Rate less than Current Tax Rate 462 11 JUniversity/Osborne 1.45661 Frozen Rate less than Current Tax Rate 463 12 McGlynn Bakeries., .11211,1.029& 1.45661 Frozen Rate less than Current Tax Rate 464 13 Satellite Lane . 1.17706 1.51333 Frozen Rate less than Current Tax Rate 467 16 57th Ave 8168 1.51333 Frozen Rate less than Current Tax Rate 468 17 Gate wa Eat 0.98937 1.51333 Frozen Rate less than Current Tax Rate 470 18 lGateway Wes 0.92322 1.51333 Frozen Rate less than Current Tax Rate 472 19 15110 Main St NE 0.86496 1.29928 Frozen Rate less than Current Tax Rate 20 BAE Site(RER) 1.29928 1.29928 474 21 Gate Northeast 22 Northstar Transit Station Distri Fridley Cash Flow 2013c.xlsx Prepared by Sevenich, Butler, Gerlach&Brazil. Ltd. 9/17/2013 Fridley Loan Summary Report ce e Activity for Period 8/15/2013 -9/1512013 Center for Energy and Environment Application packets requested/mailed: This period: Year-to-Date: 30 Residential Advisor Visits: This period: Year-to-Date: Loans currently in process for residents in your City: Closed Loans This period: Year-to-Date: Fridley Units Units Closed End 17,462.87 1 136,045.83 7 Last Resort 0.00 0 9,635.00 2 Total 17,462.87 1 145,680.83 9 Leveraged Funds This period: Units Year-to-Date: Units C EE 2,956.00 1 2,956.00 1 Total 2,956.00 1 2,956.00 1 Types of Improvements Financed YTD #of Projects %of Total Types of Properties Financed YTD # %of Total Air Conditioning 1 8.33 Single Family Residence 10 100.00 Heating System 2 16.67 Insulation 1 8.33 Kitchens 1 8.33 Other Exterior Improvements 1 8.33 Other Interior Improvements 2 16.67 Roof 1 8.33 Siding,Stucco, Exterior Paint 1 8.33 Windows,Doors,Storm Windows,Storn 2 16.67 cee•' Fridley Loan Detail Report Center for Energy and Environment Activity for Period 8/15/2013 - 9/15/2013 Fridley Property Address Amount Closed Date Improvements Property Type Units Occupancy Closed End i! ��e MOM 17,462.87 8/26/2013 Wind0G�s yl oor , Storm Wind-oic91e Family Residence 1 1 17,462.87 Total: 17,462.87 *AMI based HUD Income limits for current year at 100% of family size of 4