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HRA 12/03/2015 December 3, 2015 HRA Meeting Regular Meeting Agenda 7:00 p.m. Call to order Roll call. Action Items 1.Approval of Expenditures 2.Approval of November 5, 2015 Meeting Minutes 3.Approval of 2016 Budget 4.Approval of Resolution Decertifying TIF Districts #9 and #16 (HRA Res 2015- 11) 5.Approval of Resolution Authorizing Transfer of Funds between TIF Districts (HRA Res 2015-12) 6.Approval of Motion Authorizing Transfer of Funds from Certain TIF Districts to the HRA General Fund Informational Items 1.Housing Loan Program Update Adjournment K:\HRA\Agenda Packets\2015 Agenda Packets\2015 12 03\December-2015Agenda Outline.docxK:\HRA\Agenda Packets\2015 Agenda Packets\2015 12 03\December-2015Agenda Outline.docx CITY OF FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY COMMISSION November 5, 2015 Call to Order: Chairperson Pro Tem Gabel called the HRA Meeting to order at 7:04 p.m. Roll Call: MEMBERS PRESENT: Pat Gabel Stephen Eggert William Holm Gordon Backlund MEMBERS ABSENT: Lawrence Commers OTHERS PRESENT: Paul Bolin, HRA Assistant Executive Director Darin Nelson, Finance Director Scott Hickok, Community Development Director Roger Fink, Trident Development Jim Casserly, Development Consultant MOTION by Councilmember Holm to move informational item nos. 1, Cielo Update, to item nos. 1 on the Agenda. Seconded by Commissioner Backlund. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MOTION CARRIED UNANIMOUSLY ACTION ITEMS: 1.APPROVAL OF EXPENDITURES MOTION by Commissioner Holm to approve the expenditures. Seconded by Commissioner Eggert. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MOTION CARRIED UNANIMOUSLY 2.APPROVAL OF OCTOBER 1, 2015 MEETING MINUTES MOTION by Commissioner Holm to approve the minutes as presented. Seconded by Commissioner Eggert. Housing and Redevelopment Authority Commission Meeting of November 5, 2015 2 UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MOTION CARRIED UNANIMOUSLY 3.APPROVAL OF 2016 HRA REGULAR MEETING DATES MOTION by Commissioner Eggert to approve the 2016 HRA Regular Meeting Dates. Seconded by Commissioner Holm. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MOTION CARRIED UNANIMOUSLY 4.APPROVAL OF PRELIMINARY 2016 HRA BUDGET Darin Nelson , Finance Director, noted there is no formal action to take place tonight on this revisions to the draft budget and then presenting a final version for consideration at the December HRA meeting. The budget is broken down into three parts; general funds, special revenue funds and capital outlay funds. These are fund balances, not cash balances. Chairperson Pro TemGabel asked about the Columbia Arena and where those expenditures were located. Mr. Nelson replied that those expenses are in the general fund as that is not in a TIF district yet. Staff is keeping track of those expenditures. Paul Bolin , HRA Assistant Executive Director, provided an update on the Columbia Arena and reported that a fuel tank was under where the second rink was built. The tank has been removed expected to find gasoline outside the immediate area. Staff is waiting to hear from the MPCA for direction on whether to dig out the soil now or wait until the area is redeveloped. Depending on the direction that is given, more expenditures may come in 2016. Chairperson Pro TemGabel recalled seeing something that said the petroleum fund may pick up those expenses. Mr. Bolin replied that is a reimbursement program so expenditures may be reimbursed. INFORMATIONAL ITEMS 1.CIELO (GWNE) UPDATE Roger Fink, Trident Developer Roger Fink , Trident Development, stated that the ground breaking ceremony for this development was one year ago today. The development will be a combination of studio, 1, 2 and 3 bedroom apartments that are turning out very nice. The units will have granite countertops in the kitchen and bathroom, laminate floors with a full complement of appliances. The building Housing and Redevelopment Authority Commission Meeting of November 5, 2015 3 will have a key fob security and locking system that is similar to key cards in hotel doors. Each unit has its own central air and heat through duct work in the ceiling. Some units have a built in fireplace or bookshelves. Amenities also include a fitness room, community room, business center and canteen vending room. One of the common areas will be converted into a self-serve vending market. This is their first entrée in an apartment building; they usually are in hospitals or schools. This is a little convenience store using an on your honor system. st Mr. Fink stated that construction is on schedule and they are looking to open the 1 of February 2016. The decorative fence now has all the columns in place with the brick front and the sidewalk is laid out. The stone is also going up and they are getting tremendous feedback from the community. During construction they did encounter contaminated soil to deal with and utility issues to add another $191,000 to the calculation. The management company is in the process of interviewing onsite management personnel and they have had 475 inquiries for rental so far. They are optimistic for a rapid fill and starting the second phase. Conversations have ndst already been initiated with the lender about starting the 2 phase if the 1 building fills quickly. nd Chairperson Pro Tem Gabel asked how soon they anticipated to start on the 2 building. st Mr. Fink replied that they would like to see 50% occupancy on the 1 building with continued strong interest. Once that mark is reached then they will start on the loan documents and nd appraisal for the new building. The architectural design is already done for the 2 building. They have received questions about the rental wages and whether subsidized housing would be in this building. This property is not enrolled in subsidized or section 8 housing. The market rate is between $990 and $2025 per month plus utilities. Commissioner Backlund asked if the lease terms were for one year or longer. Mr. Fink replied that the lease term is generally one year. They will start renting in the winter and try to stagger the Leases will be spread out through the year as best they can. Chairperson Pro Tem Gabel asked if the building was pet friendly. Mr. Fink replied that some areas will be designated as pet friendly. Over 60% of rental households have some kind of pet. Chairperson Pro Tem Gabel recalled that there was some dirt piles on site and asked if they would be leveled out. Mr. Fink replied that should have been hauled away so it may be gone. If there is dirt on site it is for the future phase. Commissioner Eggert asked if the rental units got a parking space. Mr. Fink replied that each market is different; some include one free covered space with rent. They could go either way depending on the market. The number of parking stalls is less than Housing and Redevelopment Authority Commission Meeting of November 5, 2015 4 100% of the units so parking will be a premium because they are short in supply. There is enough overall parking, but not covered parking. Commissioner Eggert noted that this business is all about the amenities. Mr. Fink replied that is correct, they drive the rents. Commissioner Eggert asked if other amenities would be added. Mr. Fink replied that as they progress into other phases, opportunities to do outdoor amenities will come into playbut the plan is to bring that in next spring. Chairperson Pro Tem Gabel asked if there would be a pool in one of the buildings. Mr. Fink replied no, they are not a big fan of pools t worth it. It is a maintenance expense, liability and insurance expense and at the end of the day people like the idea but so few take full advantage of it. 2.CEE HOUSING PROGRAMS UPDATE Paul Bolin , HRA Assistant Executive Director, reported that in October one Loan was closed making 6 year to date; Remodel Advisor Visits had no visits making three year to date; and the Home Energy Squad had 22 visits in October for a total of 98 year to date. 3.COLUMBIA ARENA UPDATE Paul Bolin , HRA Assistant Executive Director, said the demo is complete and rough grading is complete by site was hauled to the arena site for top soil. The contractor is ready to seed but the Parks and Recreation Department wants to smooth the property out more with their equipment. Everything is done, on time and somewhat under budget. Commissioner Backlund asked what the outcome was of the Freon. Mr. Bolin replied that the MPCA was happy with how the Freon was taken care of and it dissipated. Adjournment MOTION by Commissioner Eggert to adjourn. Seconded by Commissioner Backlund. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL DECLARED THE MOTION CARRIED AND THE MEETING ADJOURNED AT 8:04 P.M. Housing and Redevelopment Authority Commission Meeting of November 5, 2015 5 Respectfully Submitted, Krista Peterson Recording Secretary COMMUNITY DEVELOPMENT - DEPARTMENT �1::�1!L/I Fridley HOUSING AND REDEVELOPMENT AUTHORITY Memorandum DATE: November 25, 2015 TO: Wally Wysopal, City Manager/Executive Director of HRA FROM: Darin Nelson, Finance Director `� Paul Bolin, Assistant Director of HRA SUBJECT: Motion Approving the Revised 2015 Budget and 2016 Budget Attached you will find an updated 2016 budget for Authority approval. The attached budget is virtually the same as the preliminary budget presented on November 5�', except for a couple minor changes. The first change of note is to TIF#16, the 57�'Avenue TIF District. Due to the fact that this district has now recovered all its prior expenditures and will no longer have a deficit fund balance at December 31, 2015, the district will be decertified as of this same date. The excess tax increment, estimated to be approximately$10,054, will be remitted to Anoka County for redistribution to the appropriate taxing districts. This action will zero out the fund balance and close out the district. These changes are reflected in this fund for both the 2015 Revised Budget and the 2016 Budget. The second and final change of note is the transfers to and from various funds. These are the same transfers noted earlier in the agenda and are reflected in the 2015 Revised Budget. Transfers From Transfers To �� y; �a�t TIF #9—Onan TIF#17—Gateway V�e�t $225,000 TIF #9—Onan TIF #18—Gateway East $101,100 TIF#11 —University/Osborne TIF#22—Northstar $18,119 To recap, the budget is divided into three separate categories. The General Fund covers the bulk of the administrative and overhead costs of the HRA. The Housing Loan Program Fund covers the housing related programs and services (CEE programs, etc.). The Capital Outlay Funds include all of the tax increment(TIF) districts. Staff recommends the Authority approve the attached budget for 2016 which also includes the revised budget for 2015. Fridley Housing&Redevelopment Authority 2016 Final Budget All Funds Summary Beginning Ending Fund Fund Description Fund Balance Revenues Expenditures Balance 001 -General Fund 5 9,490,893 $ 2,112,722 3 2,048,700 S 9,554,915 Special Revenue Fund 020-Housing Loan Programs S 2,978,613 = 80,000 E 60,500 $ 2,999,113 Capital Projects Funds 455-Lake Pointe(1985-2025) $ (384,544) $ 650,000 $ 617,900 $ (352,444) 046-Onan(1989-2015) ��g2� _ _ ��g2� 047-University/Osbome(1992-2018) 264,100 49,500 4,900 308,700 048-McGlynn(1992-2019) 120,861 27,500 2,700 145,661 049-Satellite(1995-2023) 735,202 36,500 3,600 168,102 050-57th Ave(1997-2023) _ _ _ _ 051-Gateway East(2001-2028) (380,438) 27,000 2,700 (356,138) 052-Gateway West(2005-2032) (397,442) 16,000 1,600 (383,042) 053-Main Street(2009-2034) (3,749) 101,000 701,000 (3,749) 054-Gateway Northeast(2017-2042) (3,214,850) - 15,000 (3,229,850) 055-BAE-Superfund Site (52,220) 210,000 229,000 (71,220) 056-BAE-Hazardous Subdistrict (1,198,366) 350,200 1,253,500 (2,101,666) 057-Northstar Station - - 14,000 (14,000) 065-Housing Replacement(1997-2029)Scattered Site 161,816 39,000 309,800 (108,984) Total Capital Projects Funds $ (4,949,822) S 1,506,700 E 2,555,700 $ (5,998,822) Total AII Funds 5 7,520,684 S 3,699,422 $ 4,664,900 S 6,555,206 Fridley Housing Redevelopment Authority Preliminary 2016 Budget Account Description 2013 Actual 2014 Actual 2015 Budget 2015 Revised 2016 Budget $Variance Y Variance Q01 Generaf Fund Beginning Fund Balance As oi January 1,2073 E 8,391,849 $11,427,867 $ 9,999,006 S 9,999,006 $ 9,490,893 Revenues City Revenues T<ucLevy $ 373,036 $ 380,413 $ 360,487 $ 360,487 $ 397,022 $ 36,535 10% Tax Levy-Delinquent Years (403) - - 0% 373,036 380,010 360,487 360,487 397,022 36,535 10% Other Miscellaneous Revenue Interest on Investment Eamings 4,916 33,433 20,000 20,000 20,000 - 0% Rent and Royalties(Faiview-parking lot rental) 9,603 9,600 9,600 9,600 9,600 - 0°k Sale of Miscellaneous Property(Medbonic Land Repymt) 43,914 129,609 130,000 124,000 124,000 - 0% Miscellaneous Revenues(TIFAdmin Fees) 99,860 124,756 123,300 92,900 62,100 (30,800) -33% Development Grants(Deed 8 Met Council) 1,531,353 1,500,000 1,500,000 1,500,000 0% 158,293 1,828,751 1,782,900 1,746,500 1,715,700 (30.800) -2% Other Finance Sources Transferfrom Other Funds 2,938,173 1,000,000 - - - - 0% Transfer from City of Fridley 0% 2,938,173 1,000,000 0% .�. �. .�1 . 'j �. 8 - ',�,� � �.'.�e Expenditures Salaries and Wages Full Time Employee Salary $ 89,220 $ 99,334 $ 101,300 $ 101,300 $ 103,400 $ 2,100 2% Part TimefTemporary Salary 5,416 10,000 15,000 5,000 50% 89,220 104,750 701,300 111,300 118,400 7,100 6% Benefits Medicare(1.45%o/Salary) 1,329 1,542 1,469 1,600 1,700 100 6% Social Security(6.2%ol Salary) 5,682 6,591 6.281 6,900 7,300 400 6% ICMA Contribution(7.5%of Salary) 6,468 7,202 7,598 7,600 7,800 200 3% Wellness Program - - 150 200 200 - 0% Healthinsurance 18,033 16,829 18,709 18,700 18,700 - 0% Dentallnsurance 264 263 300 300 300 - 0% Life Insurance 51 51 54 100 100 - 0% WorkersCompensation 1,582 1,620 650 700 700 0% 33,409 34,098 35,210 36,100 36,800 700 2% Supplies and Materials Operating Supplies 8,274 2,500 800 2,500 1,700 213% Purchased Services Professional Services(Krass Monroe,Ehlers,Sevenich) 78,876 100,209 100,000 75,000 75,000 - 0% Administration Charges(Allocatbn) 205,700 209,800 214,000 214,000 215,000 4,000 2% Dues and Subscriptions(NAHRO,AICP) 515 1,451 600 4,000 4,000 - 0% CommunicaGon(Allocation) 794 556 600 3,500 600 (2,900) -83% Transportation(Mileage Reimbu�sement) 45 66 600 600 600 - 0% Advertising 774 387 7,000 7,000 1,000 - 0% Printing and Binding(Allocation) 176 560 800 200 800 600 300% Insurance-Non Personnel(Allocatbn) 4,380 3,050 4,500 4,500 4,500 - 0% Conferences/Seminarsffraining 350 423 2,000 1,000 2,000 1,000 100% Services Contraded 7,102 6,149 3,000 8,500 8,000 (500) -6% Miscellaneous Other Services&Charges 2,320 10,812 3,500 500 500 0�/ 301,032 333,463 330,600 312,800 315,000 2,200 1°/ Capi[al Outlay Payments to Other GoJts(Solid Waste Fees/Col.Arena) 1,549 1,669 1,500 81,600 1.700 (79,900) -98% Land,Building,Demo(Columbia Arena) - 2,627,914 450,000 520,000 20,000 (500,000) -96% Improvements other than Building p� 1,549 2,629,583 451,500 601,600 21,700 (579,900) -96% Developer Assistance Hyde Development Outside Grant Funds 1,531,353 1,500,000 1,500.000 1,500,000 0% Debt Service Interest(Columbia Arena Loan from City) - 4,375 52,500 52,500 54,300 1,800 3% �4 � � � � � -�-2� �- u �,�,m�a�s- � aaa�r -�� Projected Ending Fund Balance As of December 31 $11,427,867 $ 9,999,006 $ 9,668,783 $ 9,490,893 $ 9,554,915 K1HRP.IHRA Budgets12016 BudgellHRA 2016 f�inal Budget 2015.12.03 Uneudited Data-For Manayement Puryoses Onty Fridley Housing Redevelopment Authority Preliminary 2016 Budget Account Description 2013 Actual 2074 Actual 2015 Budget 2015 Revised 2016 Budget $Variance %Varia�ce 02Q- Fiousing Loan Programs Beginning Fund Balance AS of January 1(Estimated) $ 3,909,535 $ 3,927,963 $ 2,959,113 $ 2,959,113 $ 2,979,613 Revenues Other Miscellaneous Revenue IntergOVernmental-Federal(2011 Tomado) $ • $ g,772 $ _ $ _ $ _ $ _ �� Intergovemmental-State(2011 Tomado) , p,g2q _ _ _ _ p� Interest on Investment Eamings (2,283) 34,013 18,000 18,000 18,000 - 0% Interest on MoRgages(Poo/0,i,2) 40,214 37,154 44,000 44,000 50,000 6,000 14% Miscellaneous Revenue(H&G Show) 38,977 11,709 25,000 12,000 12,000 0% 76,902 94,572 87,000 74,000 80,000 6,000 8% Taal up- ousin9 ams 76��2 94,57� � �4, 00� � � B°k Expenditures Purchased Services Professiona!Services(Castle Visbn-Home Show) $ 20,935 $ 15,338 $ 17,500 $ 17,500 $ 17,500 $ - 0°/ Advertising(Clear Channel-Home Show) 3,271 1,843 6,000 3,500 2,500 (1,000) -29% Printing and Binding(Advantage Sign-Home Show) 243 335 1,100 500 500 - 0% Utility Services - - 500 - - - 0% Services CoMracted(CEE,Home Energy Visds,etc.) 18,878 18,103 22,000 22,0�0 30,000 8,000 0% Charges/Rentals(NSC/Cenaiko-Home Show) 7,680 8,541 10,000 10,000 10,000 - 0% Uncollectible Accounts 7,467 19,262 0% 58,474 63,422 57,100 53,500 60,500 7,000 13% Otber Financing Uses 7ransfer to General Fund 1,000,000 0% s rogrems � f�1 �i6� �5 � � 13% ncome- ro�mns � � '� � Projected Ending Fund Balance A5 of December 31 y 3,927,963 S 2,959.713 $ 2,989,013 $ 2,979,613 $ 2,999,113 4' nFas Beginning Fund Bafance/�s of January 1(Estima[ed) $ (445,435) $ (447,886) S �415,344) $ (415,344) $ (384,544) Revenues City Revenues Tax Levy $ 419,487 $ 650,497 $ 650,000 $ 625,000 $ 650,000 $ 25,000 4% Tax�evy-Delinquent Years 0% 419,487 650,497 650,000 625,000 650,000 25,000 4% i Other Miscellaneous Revenue Interest on Investment Eamings 709 7,037 2,500 0% ' dai ewnuYS- o EY �,t 651,$34 52 �5 � � '��h Expenditures Purchased Services Professionai Services/AdminisVation Fees $ 65,055 $ 35,273 $ 65,000 $ 31,300 $ 32,500 $ 1,200 4% Services Contracted(Non-pro� 390 420 400 400 400 0% 65,445 35,693 65,400 31,700 32,900 1,200 4% Capital Outlay Medtronic Pay as you go TIF 357,202 583,299 456,300 562,500 585,000 22,500 4% Olnt@ l22,�- ��^ � � �1�,�� . ' ° � � � -��O:soe -�,-� Projected Ending Fund Balance As of December 31 $ (44),886) E (475,344) S (284,544) S (384,544) $ (352,444) K:\HRA\HRA Budgets�2016 BudgeflHRA 2016 Fitul Budget 2015.72.03 Unaudited Data-For ManagemerR Puryoses Only Fridley Housing Redevelopment Authority Preliminary 2016 Budget Account Description 2013 Actual 2014 Actual 2015 Budget 2015 Revised 2016 Budget $Variance %Vaziance 046- Onan(1989-2Q15) TIF#9 Beginning Fund Balance As of January 1(Estimated) S 1.593,440 $ 784,992 $ 54,408 $ 54,408 $ (192) Revenues City Revenues Tax Levy $ 281.084 $ 288,673 $ 290,000 $ 300,000 $ - $ (300,000) -100% Tax Levy-Delinquent Years - - - _ _ _ po� 281,084 288,673 290,000 300,000 - (300,000) -100% Other Miscellaneous Revenue Interest on InvesUnent Eamings 1,698 11,724 2,600 1,500 - (1,500) 0% p� �2 , 82 30�0, '! 29Z.600 3M.� � � bcpenditures Purchased Services Professional Services $ 29,190 $ 30,981 $ 29,000 $ 30,000 $ - $ (30,000) -100% Capitai OuGay Capital OuUay-Building(Vet Clinic GWNE) 562,040 - - - - 0% Other Financing Uses TransfertootherFunds 500,000 1,000,000 326,100 (326,100) -100% �- nan .0 1 1 . S � � � � Mb11N- ati � � �- � Projected Ending Fund Balance As of December 31 $ 784,992 $ 54,408 S 378,008 $ (192) a (192) 047 - University/Osborne(1992-2Q18} TIF#11 Beginning Fund Balance As of January 1(Estimated) $ 146,611 S 191,830 $ 237,619 E 237,619 $ 264,100 Revenues City Revenues Tax Levy $ 50,814 $ 49,869 $ 50,000 $ 49,000 $ 49,000 $ - 0°� Tau Levy-Delinquent - - _ _ _ po/ 50,814 49,869 50,000 49,000 49,000 - 0% Other Miscellaneous Revenue Interest on InvesUnent Eamings (339) 2,033 300 500 500 - 0% ues- n a'ne � 5�$3LT -� 48.500 � - -� Expenditures Purchased Services Professional Services/Administrative Fees $ 5,256 $ 6,113 $ 5,000 $ 4,900 $ 4,900 $ 0% Capital OuUay Capital Outlay- - - - ' 0% Other Financing Uses Transferto otherFunds - 18,119 - (18,119) -100% xpM wne 5,256 8,178 5,000 23,019 4,800 � -�43� ncame- ome" � � � � � Projected Ending Fund Balance As of December 31 $ 197,830 S 237,619 $ 262,919 $ 264,100 $ 308,700 K\HRAIHRA Budgets�2016 BudgeflHRA 2016 FInaI Budget 2015.1203 Unaudaed Data-For Management Purposes Only Fridley Housing Redevelopment Authority Preliminary 2016 Budget Account Description 2013 Actual 2014 Actual 2015 Budget 2015 Revised 2016 Budge4 $Variance %Variance 048- McGlynn(1992-2^-- TIF#12 Beginning Fund Balance As ot January 1(Estimated) $ 45,694 $ 72,450 $ 96,061 $ 96,061 S 120,861 Revenues Ciry Revenues Tax Levy $ 30,166 $ 26,236 $ 28,000 $ 27,000 $ 27,000 � - 0% Other Miscellaneous Revenue Interest on Investment Eamings (344) 1,017 350 500 500 - �� Tot svwwes- n 29,�� 3r ,3 0 - 2� 27;�0 -0 Expenditures Purchased Services Professional Services/Administrative Fees $ 3,066 $ 3,642 $ 2,800 $ 2,700 $ 2,700 $ - �� Capital Outlay o Capital OuUay - - ' - �� wes• Amm �s ��F� � � � % -�7�' � � � �dH6� Projected Ending Fund Balance As of December 31 S 72,450 E 96.061 S 121,611 $ 120.861 $ 145,661 049 - Satellite(1995-2Q23} TIF#13 Beginning Fund Balance As of January 1(EStimated) $ 37,409 S 71,527 E 102,302 E 102,302 S 135,202 Revenues City Revenues TaxLevy $ 39,162 $ 34,148 $ 33,000 $ 36,000 $ 36,000 $ - �°� Tax Levy-Delinquent Years - ' ' ' " �o� Residual MV Homestead Credit - - - 0� 39,162 34,148 33,000 36,000 36,000 0°k Other Miscellaneous Revenue Interesi on InvesVnent Eamings (344) 1,017 250 500 500 0% 911y6s_ �. , �.� ��_ � � � Expenditures Purchased Services Professional Services/Administrative Fees $ 4,706 $ 4,384 $ 3,300 $ 3,600 $ 3,600 $ 0% CapitalOutlay _ 0% Capital Outlay- - - ' ' � � � � � � �iT -'3b.Td� �" �� s�a �� Projected Ending Fund Balance As of December 31 $ 71,521 $ 102,302 $ 132,252 E 135,202 $ 168,102 K:\HRA\HRA BudgeLS12018 BudgetlHRA 2016 Final Budget 2015.12.03 Unaudited Dala-For Management Purposes Only . Fridley Housing Redevelopment Authority Preliminary 2016 Budget Account Description 2013 Actual 2014 Actual 2015 Budget 2015 Revised 2076 Budget $Variance °h Variance 056 - 57th Ave(1997-2023) TIF#16 Beginning Fund Balance,4s of January 1(Estimated) $ (48,954) E (28,679) $ (9,746) $ (9.746) $ - Revenues City Revenues Tax Levy $ 22,549 $ 21,656 $ 22,000 $ 22,000 $ - $ (22,000) -100% Tau Levy-Delinquent Years 0% 22,549 21,656 22,000 22,000 (22,000) -100% Other Miscellaneous Revenue Interest on Investment Eamings 58 0% otel evenues• Ave -�� 2 2� •100% Expenditures Purchased Services Professional Services/Administrative Fees $ 2,332 $ 2,723 $ 2.200 $ 2,200 $ - $ (2,200) -700% Payments to Olher Govemments(Exces TIF to Araka) 10,054 (10,054) 100% 2,332 2,723 2,200 12.254 (72,254) -100% Capital Outlay Capital Outlay(Linn Pay as you go) 0% otal xpe wes- w �2 � �2 � � -i8� ome- ve � -�83� � �7I� - � � � �� Projected Ending Fund Balance As of December 31 $ (28,679) $ (9,746) S 70,054 E - S - 051 -Gateway Easf (2d01-202�) TIF p 77 Beginning Fu�d Balance As of January 1(Estimated) $ (673,559) $ (649,547) E (629,738) S (629,738) S (380,438) Revenues City Revenues Tax Levy $ 26,663 $ 23,106 $ 24,000 $ 27,000 $ 27,000 $ - 0% Tau levy-Delinquent Years - - - - - - 0% Residual MV Homestead Credit 0% 26,663 23,106 24,000 27,000 27,000 0% Other Miscellaneous Revenue Interest on Investment Eamings 58 0% Other Finance Sources Transfer from Other Funds 225,000 (225,000) -100% ues- aY ast 2$�721 �, �4d �, � 1S �le$$ Expenditures Purchased Services Professional Services $ 2,709 $ 3,297 $ 2,400 $ 2,700 $ 2,700 $ 0% Ot � IRYS- 9Y �. -�� e s '4' � � � � � Projected Ending Fund Balance As of December 31 $ (649,547) $ (629,738) S (608,138) $ (380,436) $ (356,138) K-1HRA1HFtA Budgets\201E BudgetlHRA 2016 Final Budget 2015.12.03 Unaudiled Data-For Management Purposes Only Fridley Housing Redevelopment Authority Preliminary 2016 Budget Account Description 2013 Actual 2014 Actual 2015 Budget 2075 Revised 2016 Budget $Variance %Variance 052- Gateway West(2005-203� TIF#18 Beginning Fund Balance As of January 1(Estimated) $ (1,228,090) $ (631,206) $ (539,342) $ (539,342) $ (397,442) Revenues Ciry Revenues TaxLevy $ 9,220 $ 8,171 $ t0,000 $ 14,000 $ 16,000 $ 2,000 14% Tax Levy-Delinquent Years - - - - - - �� Res MV Homestead Credit - - - �� 9,220 8,171 10,000 14,000 16,000 2,000 14% Other Miscellaneous Revenue Sale of Misc Property 90,980 87,318 - 28,600 - (28,600) -100% Interest on Investment Eamings (228) 1,017 300 - - - �� Miscellaneous Revenue(Insurance Claim) - - - - - ' �� 90,752 88,335 300 28,600 (28,600) -100% Other Finance Sources Transferfrom Olher Funds 500,000 - 101,100 - (101,100) -100% 9remws- est 3� � 10 143,� � 1 7 �h Expenditures Purchased Services Professional Services/Administrative Fees $ 919 $ 1,529 $ 1,000 $ 1,400 $ 1,600 $ 200 14% Advertising - 119 - - - - 0% Services Contracted(Mowing Contract) 2,136 480 300 300 - (300) -100% Payments to Other Govemments(Property Ta�dSAC Fee) 33 2,514 - 100 - (100) 0% 3,088 4,642 1,300 1,800 1,600 (200) -11% Capital Outlay Improvements other than building - - - - 0% Iw6s- aY 68t � � 1.3� � �1 � �T. ncome- ea � �' �8� '� � Projected E�ding Fund Balance As of December 31 S (631,206) $ (539,342) $ (530,342) $ (397,442) $ (383,042) 053- Main Street(2009-2034) TIF#19 Beginning Fund Balance As of January 1(EStimated) E (3,395) E (3,346) S (3,749) $ (3,749) $ (3,749) Revenues City Revenues Tax Levy $ 102,094 $ 98,124 $ 100,000 $ 101,000 $ 101,000 $ - 0% Tau Levy-Delinqueni Years - - - ' �� 102,094 98,124 100,000 101,000 101,000 �°� Other Miscellaneous Revenue Interest on Investment Eamings 175 - 300 - - - 0% � � � � � -� E�cpenditures Purchased Services Professional Services $ 10,569 $ 10,635 $ 10,000 $ 10,100 $ 10,100 $ - 0% Capital Outlay(Pay as you go) 91,651 87,892 90,000 90,900 90,900 - 0% 102,220 98,527 100,000 101,000 101,000 - 0% 1 � �8. �� 1 'F -�i •' � �i::i � �� Projected Ending Fund Balance As of December 31 $ (3,346) $ (3,749) $ (3,449) $ (3,749) $ (3,749) K:\HRA\HRA Budgets�2016 8udget\HRA 2016 Final Budget 2015.72.03 Urieud'rted Data-For ManegemeM Purposes Only , Fridley Housing Redevelopment Authority Preliminary 2016 Budget Account Description 2073 Actual 2014 Actual 2015 Budget 2075 Revised 2016 Budget $Variance �Variance 054 - Gateway Nar�theast(2017-2041� TIF q 21 Beginning Fund Balance AS of January 1(Estimated) $(7,146,290) $ (4,130,772) $(3,199,850) S (3,199,850) $ (3,214,850) Revenues City Revenues Tax Levy $ - $ - $ - $ - $ - $ - 0% Tau Levy-Delinquent Years 0% - - - - - 0% Other Miscellaneous Revenue Interestonlnvestrnent Eamings (9,354) 8,776 - - - - 0% Miscellaneous 246 0% (9,108) 8,776 - - - 0°/ Other Financing Sources Transfer in from Other Fund(Onan TIF#9) 1,000,000 - 0% ou�Rsvenu�s- �� t Ao .7� -3�,6 Expenditures Purchased Services Professional Services/Administrative Fees $ 33,715 $ 64,972 $ 15,000 $ 15,000 $ 15,000 $ - 0°k AdveAising - 449 - - - - 0% Other Services/Charges(Complete Ground Services) 3,007 4,205 - - - - 0°k Other Services/Charges(Pymts fo Other Govt-Taxes) 419 8288 - - - - 0°h CapitalOuUay - - 0% 37,141 77,914 15,000 15,000 15,000 0% Other Financing Uses Transferto other Funds 2,938,173 0°/ otak uras- av t 3 7,�T �l , 1�'d- � 1 9 � �. �- � -�- � � Projected Ending Pund Balance As of December 31 $(4,130,712) $ (3,199,850) $(3,214,850) $(3,274,850) $ (3,229,850) 055- BAE -Superfund Site TIF#20 Beginning Fund Balance As of January 1(Estimated) $ - $ (32,220) $ (32,220) $ (32,220) $ (52,220) Revenues City Revenues Tax Levy $ - $ - $ - $ - $ 210,000 $ 210,000 100% Tax Levy-Delinquent Years 0% 210,000 210,000 0% �. � OYe Ezpenditures Purchased Services Protessional Services/AdminisVative Fees $ 32,220 $ - $ 20,000 $ 20,000 $ 40,000 $ 20,000 100% Advertising - - - - - - 0% Other ServiceslCharges(Complele Ground Services) - - - - - - 0°� Other Services/Charges(Pymts to Other Govt-Taues) - - - - - - 0°k CapitalOutlay 189,000 189,000 0% 32,220 20,000 20,000 229,000 209,000 1045°k � � � � � 1� � � � � Projected Ending Fund Balance As of December 31 $ (32,220) $ (32,220) $ (52,220) $ (52,220) $ (71,220) K:\HRA\HR4 Budgets12018 Budget\HRA 2016 Final Budget 2015.12.03 Unaudited Date-For ManageineM Puryoses Only Fridley Housing Redevelopment Auihority Preliminary 2016 Budget • Account Description 2013 Actual 2014 Actual 2015 Budget 2015 Revised 2016 Budget $Variance %Variance 056- BAE- Hazardous Subdistrict nF n 2oa Beginning Fund Balance As of January 1(Estimated) a - $ (286,132) $ (545,066) $ (545,066) $(1,198,366) Revenues City Revenues Tex Levy $ • $ 350,173 $ 356,000 $ 350,200 $ 350,200 $ - 0% Tax Levy-Delinquent Years - - 0% - 350,173 356,000 350,200 350,200 0% otal Rsvenues- -Hamr us ubd�trlct -�,�'� � 0 y � -� Expenditures Purchased Services Professiona!ServiteslAdministrative Fees $ 5,199 $ 66,403 $ 40,000 $ 2,500 $ 2,500 $ - 0% Advertising _ _ , _ _ De�o OtherServices/Charges(Courier) - i5 Q�,o Other Services/Charges(Pymts to Other Govt-Taxes) - 1,745 - 1,000 1,000 - 0% Developer Assistance-(HRA HSS Grant) 280,933 540,944 1,300.000 1,000,000 1,250,000 250,000 25% 286,132 609,107 1,340,000 1,003,500 1,253,500 250,000 25% ao ►as- •Hazaraous t 2 - 6�0�b3' � �� '�' ' � � -� orrte- • ous � � Projected Ending Fund Balance As of December 31 $ (286,132) $ (545,066) E (1,529,066) S (1,498,366) S(2,701,666) O�i7 - Northstar Station TIF#22 Beginning Fund Balance As of January 1(Estimated) $ - $ (3,847) $ (11,119) $ (11,119) S - Revenues City Revenues Tau Levy $ - $ - $ - $ - $ - $ - 0% Tau Levy-Delinquent Years _ _ Qo� Other Financing Sources ' - - - 0% Transferfrom otherFunds - 18,119 (18,119) -100°/ venues- rt r �8 � -� Expenditures Purchased Services Professional Services/AdminisVaUve Fees $ 3,841 $ 2,958 $ 10,000 $ 3,000 $ 10,000 $ 7,000 233% Advertising - 09'0 Other Services/Charges(Complete Ground Services) - 4,320 3,600 4,000 4,000 - 0% Other Services/Charges(Pymts to Other Govt-Taxes) - - _ _ _ _ �o� Capital Outlay _ _ �� 3,841 7,278 13,600 7,000 14,000 7,000 100% n s• �ar � -T.'�'� 13 7,� �b4, � � -1bS�G � � � � � Projected Ending Fund Balance As of December 31 $ (3,$4?) $ (11,179) $ (24,779) 5 - $ (14,000� K:\HRA\HRA Budgats�2018 Budget\HRA 2018 Final Budgel 2015.12.03 Unaud¢ed Deta-For ManegemBM Puryosw Only . Fridley Housing Redevelopment Authority Preliminary 2016 Budget Account Description 2013 Actual 2014 Actual 2075 Budget 2015 Revised 2016 Budget $Variance %Variance 065 - Nousing Replacement(1997-2029}Scattered Site Beginning Fund Balance As of January 1(EStimated) 5 172.257 S 144,138 E 56,876 E 56,816 $ 161,816 Revenues City Revenues T2x Levy $ 17,002 $ 22,510 $ 26,000 $ 34,000 $ 35,000 $ 1,000 3% Other Miscellaneous Revenue Interest on Investment Eamings (22) 7,616 4,000 4,000 4,000 - 0% Sale of Misc Property 143,843 64,360 90,000 84,800 35,000 (49,800) -59% Miscellaneous Revenues 821 po� 144,642 71,976 94.000 88,800 39,000 (49,800) -56% otal anues- �� A e �0, � � � � Expenditures Purchased Services Professional Services/AdminisVative Fees $ 19,245 $ 10,208 $ 2,600 $ 4,000 $ 4,000 $ - 0% Other Charges 1,896 1,177 500 300 300 - 0% Services Contracted(MOwing Contract) 2,541 4,060 4,000 12,000 4,000 (8,000) -67% Other Services 8 ChargeslPymts to other gov[s-Taxes 2,004 3,453 3,000 1,500 1,500 - 0% Capital Outlay/Building (Home Demolitions) 164,077 162,910 300,000 - 300,000 300,000 100% 189,763 181,808 310,100 17,800 309,800 292,000 1640% Other Financing Uses Transfer to Other Funds(General Fund) - - - - - 0°�a � - - � �s �0, d�i' � s o � � �- � � � Projected Ending Fund Balance As of December 31 $ 144,738 $ 56,616 $ (133,284) $ 161,816 $ (708,984) K:\HRA\HRA Budge1s�2018 BudgeflHRA 2018 Final Budget 2015.12.03 Uriaudi[ed Data-For Maregement Purposes Only HOUSING AND REDEVELOPMENT AUTHORITY Memorandum DATE: November 25, 2015 TO: Wally Wysopal, City Manager / Executive Director of HRA FROM: Paul Bolin, Assistant Director of HRA SUBJECT: th Decertification of TIF Districts #9 (Onan) and #16 (57 Ave. Redevelopment) In 1989 the Authority approved the creation of TIF District #9 - Onan. The District assisted in the extraordinary costs incurred with an expansion of the Onan Corporation facility (1400 73rd Avenue). The assistance provided 400,000 sq. feet of new office and warehouse space for Onan and created 140 new jobs. The site has increased in value from roughly $2M up to approximately $15M. This redevelopment district, by statute, will expire on December 31, 2015. Upon decertification, all future taxes generated will be shared with the other taxing jurisdictions. th In April 1997, the Authority approved the creation of TIF District #16 57 Avenue Redevelopment. The increment generated in this district assisted with constructing a small shopping center, a remodel of the Goodyear Service Center, and paid for landscaping and street th improvements along 57 Avenue. The site increased in value from less than $500,000 to over $1.4M. After receipt of 2015 tax increment, this district will have been reimbursed for all prior TIF expenditures. There are no other TIF eligible costs the tax increment can be used for; therefore, the district should be decertified at this time. Staff recommends the Authority approve the attached resolution formally decertifying these two TIF Districts. HRA RESOLUTION NO. 2015-11 A RESOLUTION RELATING TO (1) THE DECERTIFICATION OF TAX INCREMENT FINANCING DISTRICT NO. 9; (2) THE DECERTIFICATION OF TAX INCREMENT FINANCE DISTRICT NO. 16 WHEREAS, the City of Fridley (City) established its Redevelopment Project No. 1 Redevelopment Plan relating thereto, pursuant to Minnesota Statutes, Sections 469.001 to 469.047, inclusive, as amended and supplemented from time to time. (1) WHEREAS, on June 26, 1989, the creation of Tax Increment Financing District No. 9 o. 9 was approved, pursuant to Minnesota Statutes, Sections 469.001 to 469.047 and 469.174 to 469.1799, inclusive, as amended and supplemented from time to time; WHEREAS, District No. 9 is located within the Project Area; WHEREAS, it has been determined that 2015 is the last year to receive tax increment and therefore it is time to decertify as of December 31, 2015 District No. 9; NOW, THEREFORE, BE IT RESOLVED that effective December 31, 2015 the decertification of District No. 9 described above, is hereby approved by the Board of Fridley City Council for review and approval. (2) WHEREAS, on April 28, 1997, the City approved the creation of Tax Increment Financing District No. Plan relating thereto, pursuant to Minnesota Statutes, Sections 469.001 to 469.047 and 469.174 to 469.1799, inclusive, as amended and supplemented from time to time; WHEREAS, District No. 16 is located within the Project Area; WHEREAS, it has been determined that it is in the best interests of the City and Authority at this time to decertify as of December 31, 2015 District No. 16; NOW, THEREFORE, BE IT RESOLVED that effective December 31, 2015 the decertification of District No. 16 described above is hereby approved by the Board of s forwarded to the Fridley City Council for review and approval. PASSED AND ADOPTED BY HOUSING AND REDEVELOPMENT AUTHORITY IN RD AND FOR THE CITY OF FRIDLEY THIS 3 DAY OF DECEMBER 2015. HRA Resolution No. 2015-11 Page 2 _____________________________________ LAWRENCE R. COMMERS - CHAIRPERSON ATTEST: ______________________________________ WALTER T. WYSOPAL - EXECUTIVE DIRECTOR CERTIFICATION I, Walter T. Wysopal, Executive Director of the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota, hereby certify that the foregoing is a true and correct copy of HRA rd Resolution No. 2015-11 adopted by the Authority on the 3 day of December 2015. _______________________________________ WALTER T. WYSOPAL - EXECUTIVE DIRECTOR MMB: 4833-4427-2171, V. 1 2 STATE OF MINNESOTA } COUNTY OF ANOKA } § CITY OF FRIDLEY } I, Debra A, Skogen, the undersigned, being duly qualified City Clerk of the City of Fridley, Minnesota, do hereby certify that I have carefully compared the RESOLUTION attached hereto, adopted by the Fridley Housing and Redevelopment Authority of the , City of Fridley at said meeting on ___________, 2015 with the original record thereof on file in my office, and the same is a full, true and complete transcript therefrom insofar as the same relates to: RESOLUTION NO. HRA ______ A RESOLUTION RELATING TO (1) THE DECERTIFICATION OF TAX INCREMENT FINANCING DISTRICT NO. 9; (2) THE DECERTIFICATION OF TAX INCREMENT FINANCE DISTRICT NO. 16 WITNESS MY HAND as City Clerk of the City of Fridley and the seal of the City this _____ day of ___________, 2015. (SEAL) ________________________________ Debra A. Skogen City Clerk of the City of Fridley COMMUNITY DEVELOPMENT LS DEPARTMENT c��o�- Fridley HOUSING AND REDEVELOPMENT AUTNORITY Memorandum DATE: November 20, 2015 TO: Wally Wysopal, City Manager/Executive Director of HRA 1 FROM: Darin Nelson, Finance Directar �1� Paul Bolin, Assistant Director of HRA SUBJECT: Resolution ratifying the transfer of funds between various TIF Districts, and a motion approving the repayment of various payables/receivables As the year draws to a close and we prepare for our yearend financial reporting, we need address our interfund loans and transfers. James Casserly and Greg Johnson have reviewed the cash flow projections for all of the HRA's TIF Districts. They have recommended the following transfers and repayments that need to take place before year-end. TIF#9 (Onan) decertifies on December 31, 2105 and excess fund balance is able to be transferred to other TIF districts with identified costs. Therefore the recommendation is to transfer$225,000 from TIF #9 to TIF#17 (Gateway East). The remaining balance within TIF#9 of approximately$101,100 will be transferred to TIF#18 (Gateway West). The next recommendation is to transfer approximately $18,119 from TIF #11 (University/Osborne)to TIF#22 (Northstar)to cover this district's deficit fund balance at 12/31/15. This transfer covers expenditures incurred within the Northstar district from 2013-2015. Lastly, below are a list of payments needed to accurately reflect reductions in outstanding due to and due from balances for various TIF Districts. Due to Other Funds Due from Other Funds Fund O50 57�'Avenue- $20,760 Fund 001 General Fund- $20,760 Fund O51 Gateway East- $250,000 Fund 001 General Fund- $250,000 Fund 052 Gateway West- $140,000 Fund 001 General Fund- $140,000 Fund 057 Northstar- $12,000 Fund 001 General Fund- $12,000 Staff Recommendation: Staff recommends that the Authority adopt a Resolution ratifying a transfer of remaining funds from TIF District#9 (Onan)to TIF District#17 (Gateway East)and TIF District#18 (Gateway West) in the amounts of$225,000 and the remaining balance of approximately$101,000,respectively. Staff further recommends the transfer of approximately $18,119 from TIF#11 to TIF#22 to cover the estimated yearend fund balance deficit. Staff further recommends a motion approving the transfers from the various TIF Districts listed above to the HRA General Fund. HOUSING AND RE DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY COUNTY OF ANOKA STATE OF MINNESOTA HRA RESOLUTION NO. 2015-12 A RESOLUTION RATIFYING THE TRANSFER OF FUNDS BETWEEN VARIOUS TIF DISTRICTS. BE IT RESOLVED by the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota (the "Authority) as follows: WHEREAS, the Authority has a number of funds, several of which have negative fund balances which are not expected to be repaid. To help reduce such negative fund balances, the following amounts should be transferred from the following funds: Amount From Fund 046 to Fund 051 $225,000 From Fund 046 to Fund 052 $101,100* From Fund 047 to Fund 057 $18,119 *Balance of remaining funds in 046 which should be approximately $101,100. NOW, THEREFORE, BE IT RESOLVED that the above amounts shall be transferred as of December 31, 2015. Adopted by the Housing and Redevelopment Authority in and for the City of Fridley, rd Minnesota this 3 day of December, 2015. Lawrence R. Commers, Chair ATTEST: __________________________________ Walter T. Wysopal, Executive Director MMB: 4820-3491-4839, v. 1 � ` Fridley HRA Housing Program Summary Cover Page December 3, 2015 HRA Meeting Report Description Loan Summary Report Loan application activity (e.g. mailed out, in process, closed loans) for year- , to-date. Also shows the number of field appointments scheduled and completed for the Remodeling Advisor Services administered by Center for Energy and . Environment. Home Energy Squad E-mail detailing recent activity and year to date. H:\�Paul's Documents�I-IRA�HRA Agenda Items�2015�December 3,2015�Housing Program Cova December 3,2015.docx � . FRIDLEY Loan Summary Report Activity for Period 10/16/15 - 11/15/15 cee�' Center for Energy and Environment Application packets requested/mailed: This period: � Year-to-Date: 11 Residential Advisor Visits: This period: � Year-to-Date: � Loans currently in process for residents in your City/Neighborhood: � Closed Loans This period: Year-to-Date: Fridley Units Units 0 0 Closed End 0.00 0 26,505.00 2 Last Resort 0.00 0 10,000.00 1 Total 0.00 0 36,505.00 3 � � Leveraged Funds This period: Units Year-to-Date: Units CEE 0.00 0 22,095.00 2 MHFA FUF 0.00 0 8,420.00 1 `�VI Total 0.00 0 30,515.00 3 Types of Improvements Financed YTD #of Projects %of Total Types of Properties Financed YTD # %of Total Single Family Residence 6 100.00 Flooring/Carpet/Tile 2 20.00 Insufation 1 10.00 Kitchens 1 10.00 Other Interior Improvements 1 10.00 PCumbing 1 10.00 Siding,Stucco,Exterior Paint 2 20.00 Windows,Doors,Storm Windows,Stom 2 20.00 Bolin, Paul From: Stacy Boots Camp <sbootscamp@mncee.org> Sent: Wednesday, November 25, 2015 11:56 AM To: Bolin, Paul Subject: Re: HES Visits in November Hi Paul, Here are the November numbers. �#+��r�r+� �bc�� - ��it ��ate cittE, he��d af�r��ct �i�it_ty�e_.. �t�i�iley �r�n�l .. � - _ . . ..._ ArLi�I� _ Enhar�cec� � � ` �I Gomr�unity Circ�u�: E�ha��ed _ 1 1 � _ __ _ _ _ _ __ F{yer��raser� En��r�n�� 1 ! � ' .� . .. .. _. ._ N��iler Es�har�� 5 � : __ __ ,.. . _� �Prc+nja . Ea�har�� ' � �Ft�f�erral �r�l��nce� 2 � ; 1P�t��s�?te �nh�r��c� � Gr��T�tat _ '1� 17 ' �/a��w..b�¢� I I S �Pa✓� -E-a O�a f� Have a happy Thanksgiving holiday, Stacy Stacy Boots Camp � � ��°.� ;.��u;,.:�;��Ee:�,� �.n;i t:utreach Coordinator � 612.244.2429 Center for Energy and Environment .r.. 212 North 3rd Ave#560 � Minneapolis, MN 55401 (f��x} F,�?.2�4..?429 � v�+ww.mncee.orq On Tue,Nov 24, 2015 at 4:11 PM,Bolin,Paul<Paul.Bolin(a�fridleymn.gov>wrote: Stacy— Can you send me the HES visit numbers for the past month? Thank you. 1