HRA 12/01/2016 DECEMBER 1, 2016
HRA Meeting
Regular Meeting Agenda
7:00 p.m.
Call to order
Roll call.
Action Items
1. Approval of Expenditures
2. Approval of November 3, 2016 Meeting Minutes
3. Approval of Final 2017 HRA Budget
4. Approval of CEE Contract Extension
Informational Items
1. CEE Housing Programs Update
Adjournment
HA—Paul's Documents\HRA\I-IRA Agenda Items\2016\December 1,2016\November-2016 Agenda Outline.docxH:\Paul's
Documents\HRA\HRA Agenda Items\2016\December 1,2016\November-2016 Agenda Outline.docx
MIMI
'k of
Fridley
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
OF DECEMBER 1, 2016
7:00 p.m. — City Council Chambers
Sign-in Sheet
Please print name, address and item number you are interested in.
Print Name (Clearly) Address Item No.
Check Report
IMF City of Fridley, MN By Check Number
- 11/08/2016
Date Range: 10
Fridley
Vendor Number Vendor Name Payment Date Payment Type Discount Amount Payment Amount Number
Bank Code:APBNK-HRA-APBNK-HRA
hra-1601 PASSAU LANDCARE INC. 10/17/2016 Regular 0.00 540.00 29942
hra-1703 QUICKSILVER EXPRESS COURIER 10/17/2016 Regular 0.00 16.59 29943
hra-1933 SEVENICH,BUTLER,GERLACH&BRAZIL 10/17/2016 Regular 0.00 2,388.75 29944
hra-220 BRAUN INTERTEC CORPORATION 10/17/2016 Regular 0.00 1,353.25 29945
hra-623 FRIDLEY,CITY OF 10/19/2016 Regular 0.00 61.45 29946
hra-1113 MONROE MOXNESS BERG PA 10/21/2016 Regular 0.00 11,192.15 29947
hra-238 BUST OUT SOLUTIONS 10/21/2016 Regular 0.00 290.00 29948
hra-311 CENTER FOR ENERGY&ENVIRONMENT 10/21/2016 Regular 0.00 33,900.00 29949
hra-623 FRIDLEY,CITY OF 11/02/2016 Regular 0.00 65.70 29950
hra-1320 MINNESOTA POLLUTION CONTROL AGENCY 11/08/2016 Regular 0.00 1,125.00 29951
hra-1601 PASSAU LANDCARE INC. 11/08/2016 Regular 0.00 1,080.00 29952
hra-1933 SEVENICH,BUTLER,GERLACH&BRAZIL 11/08/2016 Regular 0.00 367.50 29953
hra-306 CASTLEVISIONS 11/08/2016 Regular 0.00 3,989.17 29954
hra-623 FRIDLEY,CITY OF 11/08/2016 Regular 0.00 67,806.47 29955
Bank Code APBNK-HRA Summary
Payable Payment
Payment Type Count Count Discount Payment
Regular Checks 18 14 0.00 124,176.03
Manual Checks 0 0 0.00 0.00
Voided Checks 0 0 0.00 0.00
Bank Drafts 0 0 0.00 0.00
EFT's 0 0 0.00 0.00
18 14 0.00 124,176.03
11/8/2016 3:10:11 PM Page 1 of 2
Check Report Date Range;10/17/2016-11/08/2016
Fund Summary
Fund Name Period Amount
099 Pooled Cash-HRA 10/2016 49,742.19
099 Pooled Cash-HRA 11/2016 74,433.84
124,176.03
11/8/2016 3:10:11 PM Page 2 of 2
CITY OF FRIDLEY
HOUSING AND REDEVELOPMENT AUTHORITY COMMISSION
NOVEMBER 3,2016
Chairperson Pro Tem Gabel called the Housing and Redevelopment Authority Meeting to
order at 7:00 p.m.
MEMBERS PRESENT: Pat Gabel .
Stephen Eggert
Gordon Backlund
MEMEBERS ABSENT: Larry Commers
William Holm
OTHERS PRESENT: Wally Wysopal, City Manager
Paul Bolin, HRA Assistant Executive Director
Shelly Peterson, Finance Director
Jim Casserly, Development Consultant
Action Items:
1. Approval of Expenditures
MOTION by Commissioner Backlund 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 September 1,2016 Meeting Minutes
MOTION by Commissioner Backlund to approve the minutes as presented. Seconded by
Commissioner Eggert.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL
DECLARED THE MOTION CARRIED UNANIMOUSLY
3. Approval of October 6,2016 Meeting Minutes
MOTION by Commissioner Backlund to approve the minutes as presented. Seconded by
Commissioner Eggert.
Chairperson Pro Tem Gabel requested the following changes:
Page 3, 7th paragraph, "Mr. Hyde stated hey they ..."
Page 4, 4th paragraph, 4th sentence, "Here they have WOH one for people"
•
Housing and Redevelopment Authority Meeting of November 3, 2016 2
Page 5, 9th paragraph, "Commissioner Gabel stated according to the MPCA they may still
have . . • . • extensive liability ...?
Page 7, 3rd paragraph, 3rd sentence, "..talking about the single-level homes such as what
those in Blaine."
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL
DECLARED THE MOTION CARRIED AND THE MINUTES APPROVED AS
AMENDED
4. Approval of 2017 HRA Regular Meeting Dates
MOTION by Commissioner Eggert to approve the 2017 HRA Regular Meeting Dates.
Seconded by Commissioner Backlund.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL
DECLARED THE MOTION CARRIED UNANIMOUSLY
5. Approval of Preliminary 2017 HRA Budget
Shelly Peterson, Finance Director, stated that the Draft Budget is divided into 2 categories. The
General Fund — administrative and overhead costs and Housing Loan Fund Program — housing
related programs and services. The Capital Outlay Funds were removed from budget as TIF
funds have little flexibility and annual cash projections better anticipate balances. Ms. Peterson
presented the following:
Proposed Revenue Budget 2015 Actual 2016 Budget 2016 Revised 2017 Proposed
Taxes 357,968 397,022 397,000 408,400
Interest on Investments 46,021 20,000 20,000 20,000
Lot lease for Fairview 10,400 9,600 9,600 9,600
Medtronic Land Re-pymt 123,983 124,000 124,000 124,000
Inter-fund Loan Interest 164,500 206,800
Admin Fees 90,417 62,100 100,000 120,000
Development Grants 999,973 1,500,000 1,500,000 2,000,000
1,270,794 1,715,700 1,918,100 2,480,400
2017 General Revenue Highlights include:
• Property tax levy increase of 2.87%or$11,400
• 2016 Revised budget and 2017 Proposed budget include interest received from the
Gateway NE &BAE TIF inter-fund loans
• The 2017 Proposed budget includes $2 million in pass-through Grants from DEED and
Met Council related to the BAE project
. I
Housing and Redevelopment Authority Meeting of November 3, 2016 3
General Proposed Budget 2015 Actual 2016 Budget 2016 Revised 2017 Proposed
Salaries &Benefits 152,289 155,200 142,200 156,900
Supplies 200 2,500 2,500 200
Professional Services 861,606 315,000 315,000 321,300
Developer Assistance 999,973 1,500,000 1,500,000 2,000,000
Debt Service 52,653 54,300 54,300 56,400
Other 82,027 21,700 21,700 2,500
2,148,748 2,048,700 2,035,700 2,537,300
Net Income(loss) (519,986) 64,022 279,400 351,500
Expenditure Highlights include:
• A 2% cost of living adjustment for 2017
• A 10%increase in professional services (primarily due to anticipated legal expenses)
• The 2017 Proposed budget includes $2 million in pass-through Grants from DEED and
Met Council related to the BAE project
Housing Loan Program
Proposed Budget 2015 Actual 2016 Budget 2016 Revised 2017 Proposed
Interest on investments 18,606 18,000 18,000 18,000
Interest on loans 37,748 50,000 33,300 33,300
Miscellaneous revenues 21,631 12,000 20,000 21,400
Total Revenues 77,985 80,000 71,300 72,700
Supplies 155 0 0 200
Professional Services 23,097 60,500 67,500 71,000
Total Expenditures 23,252 60,500 67,500 71,200
Net Income(loss) 54,734 19,500 3,800 1,500
Highlights include:
• Anticipated revenue for 2017 reflect a reduction in anticipated mortgage revenue
• Expenditure budget includes additional expenses related to the Home Show.
• Staff is also projecting similar expenditures in 2017 for Home Energy Squad Visits and
Remodeling Advisor Visits
Ms. Peterson said that staff recommends approval of the preliminary budget. Your questions
and suggestions will be incorporated into a final budget to be presented December 1.
Housing and Redevelopment Authority Meeting of November 3,2016 4
Commissioner Eggert was concerned about taking money out of the loan programs for other
things but it is building up again.
Ms. Peterson replied that the Authority does have nice reserves in the housing loan program and
reserves in the receivables.
Chairperson Pro Tem Gabel would like to see the different amounts in the TIF districts.
Ms. Peterson replied that those are best looked at through the reports Mr. Casserly works with
Greg Johnson to put together for cash flow planning.
Commissioner Eggert asked for explanation of the last page that summarizes everything.
Ms. Peterson replied that it shows where the anticipated fund balance will be for all the funds.
We are anticipating $10m in fund balance from cash or any receivables owed to the HRA.
$6.293m total fund balance ending 2017.
Jim Casserly, Development Consultant, added that the amounts of the cash balances can be used
for other programs. There are some cash balances that are restricted where the cash in those
districts can be used like only for specific activities. Unrestricted cash balances are about $6.5m.
Ms. Peterson added that is primarily in the housing loan program and the general fund.
Chairperson Pro Tem Gabel was looking for money for the Columbia Arena project because
we will need money for that.
Mr. Casserly replied yes, the policy is that you make advances to projects through internal
financing, therefore there are the interfund loans. That is why the general fund is what it is
because that is where the funds were borrowed from in the first place. Once TIF districts begin
to make money the funds go back to the general fund. The general fund will have revenue
coming in for several years because of the loans that were given from that fund. We want to
finance investments as inexpensively as possible and we will have time to look at ways to do
that.
Chairperson Pro Tem Gabel said that the Authority is in a decent position to go forward with
those things because of the revenue. I like seeing the different districts because sometimes the
money can be pooled and sometimes it can be moved.
Mr. Casserly replied that as districts reach their end, whatever revenues that can be used for
legitimate expenses will be spent or the funds will go back to the general fund.
MOTION by Commissioner Eggert to approve the Preliminary 2017 HRA Budget. Seconded
by Commissioner Backlund.
Housing and Redevelopment Authority Meeting of November 3, 2016 5
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL
DECLARED THE MOTION CARRIED UNANIMOUSLY
6. Locke Park Pointe/City Hall/Columbia Arena Update
Paul Bolin, HRA Assistant Executive Director, stated that on September 16, staff released a
request for qualifications (RFQ) to begin the process of selecting a developer/partner for private
development around the proposed municipal campus. In total, 17 developers requested copies of
the RFQ and supporting documents. Eight different developers were represented in a mandatory,
pre-submittal meeting on October 5.
Mr. Bolin said that in the days leading up to the RFQ submittal deadline, what we heard from a
few developers, is that they are/were too busy to get responses to us and that the uncertainty
surrounding the construction of City Hall causes some concern.
Mr. Bolin said at noon on Wednesday, October 19, we had RFQ responses from one developer,
Dominium. While they are class leaders in senior buildings, their vision for the site did not
extend beyond them building a 200 unit senior building. They did not bring any partners
forward to develop the rest of the site.
Mr. Bolin stated that the RFQ response from Dominium did not address the entire site. To
proceed with Dominium as a development partner, at this time,would require the Authority to go
out and find other developers to construct patio homes and other multi-family units. With the
RFQ, we were really looking for a developer or team of developers to take on the development
of the entire site. We are recommending that the Authority adopt a motion rejecting the response
to the RFQ received.
Mr. Bolin said that staff is also recommending waiting until, at least, early January to go out
with a new RFQ. This timeframe will work better for the developers that are scrambling to
finish projects this fall, but more importantly we will know with much more certainty that City
Hall is a go or not. The Council is authorizing the bond sale for construction of City Hall on
November 14 and residents will have 30 days to gather enough signatures to put the issue up for
special vote. If there is not a successful petition, we can issue the RFQ in January. If the
signatures are gathered, and a special election forced, we would delay issuing the FRQ until the
issue is decided, likely in March. Staff recommends the Authority approve a motion to reject the
October 19 RFQ Response received from Dominium, for the Locke Park Pointe redevelopment.
Chairperson Pro Tern Gabel agreed that one developer is not enough and understands how
other developers may be cautious about a development that may or may not go forward.
Commissioner Backlund asked if staff would debrief with the non-responsive people.
Mr. Bolin replied that staff has talked to several of them that showed up for the meeting on
October 5th. The reasons they didn't respond were timing, they are too busy, and the uncertainty
if city hall will be built or not.
Housing and Redevelopment Authority Meeting of November 3,2016 6
Commissioner Backlund asked what would give us a better feeling for responsiveness. He
doesn't want to repeat the same process and expect a different result.
Wally Wysopal, City Manager, replied that the timing of it was an issue and greater certainty of
the city hall portion. Once it is confirmed city hall would be built that would grant more
certainty that the rest of the development will be doable.
Commissioner Backlund confirmed that until we tie down the certainty of city hall, people
won't respond.
Mr. Bolin replied that we don't plan to go out with an RFQ until that is known.
Commissioner Eggert asked what is the site plan for the developer without the city project? It
can change tremendously.
Chairperson Pro Tem Gabel agreed that once they have something they can count on then it's
worth the effort to put the time and energy into it. That will be avoided once they know the
development will be going forward. Right now, that is unknown.
Mr. Bolin thought staff would get a better response on bids if they wait until after January; or
March if this goes to special election.
MOTION by Commissioner Eggert to reject the response from Dominium. Seconded by
Commissioner Backlund.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL
DECLARED THE MOTION CARRIED UNANIOUSLY
Informational Items:
1. CEE Housing Programs Update
Paul Bolin, HRA Assistant Executive Director, reported that there was one loan last month
making 17 total for year-to-date. Last year this time we only had 6 loans. The changes that the
Authority made to its loan eligibility are paying off Remodeling Advisor visits had zero last
month making 11 year-to-date. Last year at this time only 3 had been completed. Home Energy
Squad visits had 4 in October making 54 year-to-date. This program continues to be successful.
An insert is going out in the utility bills and the first batch went out Monday. People should start
seeing those in their mailbox in the next few days.
Adjournment:
MOTION by Commissioner Eggert to adjourn. Seconded by Commissioner Backlund.
Housing and Redevelopment Authority Meeting of November 3, 2016 7
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON PRO TEM GABEL
DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE MEETING
ADJOURNED AT 7:45 P.M.
6,,,,,-i `' ACTION ITEM
NI(no, HRA REGULAR MEETING
Fridley DECEMBER 1, 2016
Date: November 23, 2016
To: Wally Wysopal, Executive Director
From: Shelly Peterson, Finance Director
Paul Bolin, Asst. Executive HRA Director
Subject: Final Budget for 2017
Attached you will find an updated 2017 budget for Authority approval. The attached
budget is virtually the same as the preliminary budget presented on November 3rd. At
the request of the Authority, more detail has been added to the budget.
The new detail includes the beginning and estimated fund balances, revenues and
expenses for each TIF District. Additionally, the Cash Balances planning tool the
Authority reviewed in September has been attached to provide a better understanding
of the cash in the various funds.
Staff recommends approval of the budget for 2017.
Fridley Housing&Redevelopment Authority
2017 Budget
2014 2015 2016 2016 2017
Account Description Actual Actual Budget Revised Budget
001 -General Fund
Beginning Fund Balance As of January 1 11,427,867 9,999,006 9,999,006 9,479,020 9,758,420
Revenues
City Revenues
Tax Levy 380,413 357,968 397,022 397,000 408,400
Tax Levy-Delinquent Years (403) - - -
380,010 357,968 397,022 397,000 408,400
Other Miscellaneous Revenue
Interest on Investment Earnings 33,433 46,021 20,000 20,000 20,000
Rent and Royalties(Fairview-parking lot rental 9,600 10,400 9,600 9,600 9,600
Sale of Miscellaneous Property(Medtronic Lan( 129,609 123,983 124,000 124,000 124,000
Interfund loan interest 164,500 206,800
Miscellaneous Revenues(TIF Admin Fees) 124,756 90,417 62,100 100,000 120,000
Development Grants(Deed&Met Council) 1,531,353 999,973 1,500,000 1,500,000 2,000,000
1,828,751 1,270,794 1,715,700 1,918,100 2,480,400
Other Finance Sources
Transfer In from Other Funds 1,000,000 -
- - -
1,000,000 - - - -
Total Revenues-General Fund 3,208,761 1,628,762 2,112,722 2,315100 088,800
Expenditures
Salaries and Wages
Full Time Employee Salary(includes Leave) 99,334 106,728 103,400 103,400 105,400
Part Time/Temporary Salary 5,416 8,776 15,000 15,000 14,000
104,750 115,504 118,400 118,400 119,400
Benefits
Medicare(1.45%of Salary) 1,542 1,645 1,700 1,700 1,700
Social Security(6.2%of Salary) 6,591 7,036 7,300 7,300 8,300
ICMA Contribution(7.5%of Salary) 7,202 7,502 7,800 7,800 7,900
Wetness Program - - 200 200 200
Health Insurance 16,829 18,708 18,700 - 18,700
Dental Insurance 263 300 300 300 300
Life Insurance 51 53 100 100 100
Cash Benefit - 88 5,700 -
Workers Compensation 1,620 1,453 700 700 300
34,098 36,785 36,800 23,800 37,500
Supplies and Materials
Operating Supplies - 200 2,500 2,500 200
Purchased Services
Professional Services(Kress Monroe,Ehlers,S 100,209 620,001 75,000 75,000 82,400
Insurance-Non Personnel(Allocation) 3,050 4,693 4,500 4,500 4,200
Administration Charges(Allocation) 209,800 214,000 218,000 218,000 218,000
Dues and Subscriptions(NAHRO,AICP) 1,451 3,968 4,000 4,000 3,000
Transportation(Mileage Reimbursement) 66 - 600 600 600
Conferences/Seminars/Training 423 560 2,000 2,000 2,000
Advertising 387 648 1,000 1,000 1,000
Printing and Binding(Allocation) 560 90 800 800 800
Communication(Allocation) 556 3,227 600 600 800
Services Contracted 6,149 13,998 8,000 8,000 8,000
Miscellaneous Other Services&Charges 10,812 421 500 500 500
333,463 861,606 315,000 315,000 321,300
Capital Outlay
Payments to Other Gov'ts(Solid Waste Fees/C 1,669 81,538 1,700 1,700 2,500
Land,Building,Demo(Columbia Arena) 2,627,914 - 20,000 20,000 -
Transfer Out to other funds 489
2,629,583 82,027 21,700 21,700 2,500
Developer Assistance
Hyde Development Outside Grant Funds 1,531,353 999,973 1,500,000 1,500,000 2,000,000
Debt Service
Interest(Columbia Arena Loan from City) 4,375 52,653 54,300 54,300 56,400
Teta)Expenditures-General Fund 407,621 tidEs748 2,048-.100 2.04700. t.M$00.
Net income-General Fund [1,428,8 +1 MEMO) 64,022. ,
Projected Ending Fund Balance As of Decembei 9,999,006 9,479,020 9,543,042 9,758,420 10,109,920
K.1HRA\HRA Budgets12017 Budget\2017 HRA Budgets Unaudited Data-For Management Purposes Only
Fridley Housing&Redevelopment Authority
2017 Budget
2014 2015 2016 2016 2017
Account Description Actual Actual Budget Revised Budget
020-Housing Loan Programs
Beginning Fund Balance As of January 1 (Estim 3,927,963 2,959,113 2,959,113 3,013,847 3,017,647
Revenues
Other Miscellaneous Revenue
Intergovernmental-Federal(2011 Tornado) 8,772 - - - -
Intergovernmental-State(2011 Tornado) 2,924 - - - -
Interest on Investment Earnings 34,014 18,606 18,000 18,000 18,000
Interest on Mortgages(Pool 0, 1,2) 37,154 37,748 50,000 33,300 33,300
Miscellaneous Revenue(H&G Show) 11,708 21,631 12,000 20,000 21,400
94,572 77,985 80,000 71,300 72,700
Total Revenues-Housing Programs 94,572 77,985 80,000 71,300 72,700
Expenditures
Supplies and Materials
Operating Supplies - 155 - - 200
Purchased Services
Professional Services(Castle Vision-Home St 15,338 32,298 17,500 22,000 23,000
Advertising(Clear Channel-Home Show) 1,843 3,276 2,500 5,000 5,000
Printing and Binding(Advantage Sign-Home: 335 - 500 500 -
Utility Services - - - - -
Services Contracted(CEE,Home Energy Visits 18,103 17,368 30,000 30,000 30,000
Charges/Rentals(NSC/Cenaiko-Home Show) 8,541 5,970 10,000 10,000 13,000
Payments to other govts(Taxes on Home Remodeling) - -
Uncollectible Accounts 19,262 (35,814) - - -
63,422 23,097 60,500 67,500 71,000
Other Financing Uses
Transfer Out to General Fund 1,000,000 - - - -
Total Expenditures;-Housing Programs 1,063,422 23,252 60,500 67,500 71,200
Net Income-Housin, P rams 968,850 54 734 19 500 3 800 1500'
Projected Ending Fund Balance As of Decembei 2,959,113 3,013,847 3,033,347 3,017,647 3,019,147
K:\HRA\HRA Budgets\2017 Budget\2017 HRA Budgets Unaudited Data-For Management Purposes Only
•
Fridley Housing & Redevelopment Authority
2017 Estimated Fund Balances for all funds
2016 2017
Estimated 2017 2017 Estimated
Ending Estimated Estimated Ending
Fund Description Fund Balance Revenues Expenditures Fund Balance
001 -General Fund $ 9,758,420 $ 2,888,800 $ 2,537,300 $ 10,109,920
Special Revenue Fund
020 - Housing Loan Programs $ 3,017,647 $ 72,700 $ 71,200 $ 3,019,147
Capital Projects Funds
045- Lake Pointe (1985-2025) $ (353,827) $ 625,300 $ 593,100 $ (321,627)
047- University/Osborne(1992-2018) 307,693 53,900 5,200 356,393
048 -McGlynn (1992-2019) 143,749 47,400 4,700 186,449
049 -Satellite Lane Apts (1995-2023) 169,852 39,600 3,900 205,552
051 -Gateway East(2001-2028) (351,750) 31,000 - (320,750)
052 -Gateway West(2005-2032) (388,230) 26,400 - (361,830)
053-Main Street(2009-2034) (4,656) 119,200 119,000 (4,456)
054 -Gateway Northeast(2017-2042) (3,331,927) 159,300 138,500 (3,311,127)
055- BAE -Superfund Site (48,310) 743,600 743,800 (48,510)
056 - BAE- Hazardous Subdistrict (2,404,872) 330,400 1,349,100 (3,423,572)
057-Northstar Station (315) - - (315)
065- Housing Replacement(1997-2029) Scattered 182,081 29,500 2,900 208,681
Total Capital Projects Funds $ (6,080,512) $ 2,205,600 $ 2,960,200 $ (6,835,112)
Total All Funds $ 6,695,555 $ 5,167,100 $ 5,568,700 $ 6,293,955
•
Fridley Housing&Redevelopment Authority
2017 Budget
2014 2015 2016 2016 2017
Account Description Actual Actual Budget Revised Budget
045-Lake Pointe(1985-2025)
TIF#6
Beginning Fund Balance As of January 1 (Estim (447,886) (415,344) (415,344) (385,927) (353,827)
Revenues
City Revenues
Tax Levy 650,497 622,176 650,000 650,000 624,300
Tax Levy-Delinquent Years - - - - -
650,497 622,176 650,000 650,000 624,300
Other Miscellaneous Revenue
Interest on Investment Earnings 1,037 5 - 1,000
1,037 5 - - 1,000
Total Revenues-Lake Pointe 651,534 622,181 650,000 650,009 625,300
Expenditures
Purchased Services
Professional Services/Administration Fees 35,273 32,093 32,500 32,500 31,200
Services Contracted(Non-prof) 420 455 400 400 -
Payments to Other Gov'ts 2,240 -
35,693 34,788 32,900 32,900 31,200
Capital Outlay-Developer Assistance
Medtronic Pay as you go TIF 583,299 557,978 585,000 585,000 561,900
583,299 557,978 585,000 585,000 561,900
Total Expenditures-Lake Pointe 618,992 592,766 617,900 617,900 593,100
Net Income-Lake Pointe 52,542 19,417 32,100 32,100 32,200
Projected Ending Fund Balance As of December (415,344) (385,927) (353,827) (353,827) (321,627)
047-University/Osborne(1992-2018)
TIF#11
Beginning Fund Balance As of January 1 (Estim 191,830 237,619 237,619 263,093 307,693
Revenues
City Revenues
Tax Levy 49,869 47,753 49,000 49,000 52,300
Tax Levy-Delinquent - - - -
49,869 47,753 49,000 49,000 52,300
Other Miscellaneous Revenue
Interest on Investment Earnings 2,033 2,030 500 500 1,600
2,033 2,030 500 500 1,600
Total Revenues-University/Osborne 51,902 49,783 49,500 49,590 53,900
Expenditures
Purchased Services
Professional Services/Administrative Fees 6,113 6,822 4,900 4,900 5,200
6,113 6,822 4,900 4,900 5,200
Capital Outlay
Capital Outlay- - - - -
Other Financing Uses
Transfer Out to other Funds - 17,487 - - -
Total Expenditures-University/Osborne 6,113 24,309 4,900 4,900 5,200
Net Income-University/Osborne 45,789 25,474 44,600 44,600 48,700
Projected Ending Fund Balance As of Decembei 237,619 263,093 307,693 307,693 356,393
K\HRA1HRA Budgets\2017 Budget\2017 HRA Budgets Unaudited Data-For Management Purposes Only
Fridley Housing&Redevelopment Authority
2017 Budget
2014 2015 2016 2016 2017
Account Description Actual Actual Budget Revised Budget
048-McGlynn(1992-2019)
TIF#12
Beginning Fund Balance As of January 1 (Estim 72,450 96,061 96,061 118,949 143,749
Revenues
City Revenues
Tax Levy 26,236 26,633 27,000 27,000 46,700
26,236 26,633 27,000 27,000 46,700
Other Miscellaneous Revenue
Interest on Investment Earnings 1,017 863 500 500 700
1,017 863 500 500 700
Total Revenues-McGlynn 27,253 27,496 27,500 27,500 47,400
Expenditures
Purchased Services
Professional Services/Administrative Fees 3,642 4,608 2,700 2,700 4,700
3,642 4,608 2,700 2,700 4,700
Capital Outlay
Capital Outlay - - - -
Total Expenditures-McGlynn 3,642 4,608 2,700 2,700 4,700
Net Income'-McGlynn 23,611 22,888 24,800 24,900 42,700
Projected Ending Fund Balance As of December 96,061 118,949 143,749 143,749 186,449
049-Satellite Lane Apts(1995-2023)
TIF#13
Beginning Fund Balance As of January 1 (Estim 71,521 102,302 102,302 136,952 169,852
Revenues
City Revenues
Tax Levy 34,148 39,744 36,000 36,000 38,900
Tax Levy-Delinquent Years - - - - -
34,148 39,744 36,000 36,000 38,900
Other Miscellaneous Revenue -
Interest on Investment Earnings ; 1,017 943 500 500 700
1,017 943 500 500 700
'Total Revenues-Satellite 35,165 40,687 36,500 36,500 39,600
Expenditures
Purchased Services
Professiona.I SenV.ices/Administrative Fees 4,384 6,037 3,600 3,600 3,900
4,384 6,037 3,600 3,600 3,900
Total Expenditures-Satellite 4,384 6,037 3,600 3,600 S
Net Income-Satellite 30,781 34,650 32900 32,900 35,700
Projected Ending Fund Balance As of December 102,302 136,952 169,852 169,852 205,552
K:\NRA\HRA Budgets\2017 Budget\2017 HRA Budgets Unaudtted Data-For Management Purposes Only
Fridley Housing&Redevelopment Authority
2017 Budget
2014 2015 2016 2016 2017
Account Description Actual Actual Budget Revised Budget
051-Gateway East(2001-2028)
TIF#17
Beginning Fund Balance As of January 1 (Estim (649,547) (629,738) (629,738) (381,950) (351,750)
Revenues
City Revenues
Tax Levy 23,106 27,523 27,000 30,200 30,900
Tax Levy-Delinquent Years - - - -
23,106 27,523 27,000 30,200 30,900
Other Miscellaneous Revenue
Interest on Investment Earnings - 174 - 100
174 - - 100
Other Finance Sources
Transfer In from Other Funds - 225,000 - -
Total Revenues-Gateway East 23,106 252,697 27,000 30,200 31,000
Expenditures
Purchased Services
Professional Services&Other Charges 3,297 4,909 2,700 - -
3,297 4,909 2,700 - -
Total Expenditures-Gateway East 3,297 4,909 2,700 - -
Net Income-Gateway East 19,809 247,788 24,300 30,200 31,000
Projected Ending Fund Balance As of December (629,738) (381,950) (357,650) (351,750) (320,750)
052-Gateway West(2005-2032)
TIF#18
Beginning Fund Balance As of January 1(Estim (631,206) (539,342) (539,342) (409,030) (388,230)
Revenues
City Revenues
Tax Levy 8,171 13,868 16,000 20,800 26,200
Tax Levy-Delinquent Years - - - - -
8,171 13,868 16,000 20,800 26,200
Other Miscellaneous Revenue
Sale of Misc Property 87,318 28,600 - - -
Interest on Investment Earnings 1,017 632 - - 200
Miscellaneous Revenue(Insurance Claim) - - - - -
88,335 29,232 - - 200
Other Finance Sources
Transfer In from Other Funds - 89,741 - - -
Total Revenues-Gateway West 96,506 132,841 16,000 20,800 26,400
Expenditures
Purchpsed Services
Professional Services/Administrative Fees 1,529 2,479 1,600 - -
AdvertMing 119 - - - -
Services Contracted(Mowing Contract) 480 - - - -
Payments to Other Governments(Property Tax 2,514 50 - - -
4,642 2,529 1,600 - -
Capital Outlay
Improvements other than building - - - - -
Total Expenditures-Gateway West 4,642 2,529 1,600 - -
Net Income-Gateway West 91,864 130,312 14,400 20,800 26,400
Projected Ending Fund Balance As of December (539,342) (409,030) (394,630) (388,230) (361,830)
K:1HRA\HRA Budgets12017 Budget12017 HRA Budgets Unaudited Data-For Management Purposes Only
Fridley Housing&Redevelopment Authority
2017 Budget
2014 2015 2016 2016 2017
Account Description Actual Actual Budget Revised Budget
053-Main Street(2009-2034)
TIF#19
Beginning Fund Balance As of January 1 (Estim (3,346) (3,749) (3,749) (4,656) (4,656)
Revenues
City Revenues
Tax Levy 98,124 101,033 101,000 101,000 119,000
Tax Levy-Delinquent Years -
98,124 101,033 101,000 101,000 ' 119,000
Other Miscellaneous Revenue
Interest on Investment Earnings - 60 - - 200
- 60 - - 200
Total Revenues-TW#19 98,124 101,093 101,000 101000 119,200
Expenditures
Purchased Services
Professional Services 10,635 10,996 10,100 10,100 11,900
Payments to Other Agencies 364
Capital Outlay(Pay as you go)-Devt Assistanc 87,892 90,640 90,900 90,900 107,100
98,527 102,000 101,000 101,000 119,000
Total Expenditures TIF#19 98,527 102,000 101,000 101,000 119,000
Net Income-TIF#19 (403) 200
Projected Ending Fund Balance As of Decembei (3,749) (4,696) (4,656) (4,656) (4,456)
054-Gateway Northeast(2017-2042)
TIF#21
Beginning Fund Balance As of January 1(Estim (4,130,712) (3,199,850) (3,199,850) (3,198,327) (3,331,927)
Revenues
City Revenues
Tax Levy - - - 158,300
Tax Levy-Delinquent Years - - - - -
- - - - 158,300
Other Miscellaneous Revenue
Interest on Investment Earnings 8,776 1,523 - - 1,000
Miscellaneous - -
8,776 1,523 - - 1,000
Other Financing Sources
Transfer in from Other Fund(Onan TIF#9) 1,000,000 - - -
Total Revenues• ,; y Northilast 1,008,776 1,523 - • 159,300:
Expenditures
Purchased Services'
Profassignal Services/Administrative Fees 64,972 - 15,000 15,000 15,800
Advertising 449 - - - -
Other Services/Charges(Complete Ground Ser 4,205 - - - -
Other Services/Charges(Pymts to Other Govt- 8,288 - - - -
Interest Expense - - - 118,600 122,700
Capital Outlay - - - - -
77,914 - 15,000 133,600 138,500
Other Financing Uses
Transfer Out to other Funds - - - - -
Totai Expendltu -Gateway Northeast 77,914 - 15,,600
133,6110 .15t8.00
;Net income-;Gaftaway Northeast 930,862 1,5 (15,000) (133]8001. 211;.800
Projected Ending Fund Balance As of December (3,199,850) (3,198,327) (3,213,327) (3,331,927) (3,311,127)
K'\HRA\HRA Budgets\2017 Budget\2017 HRA Budgets Unaudited Data-For Management Purposes Only
Fridley Housing&Redevelopment Authority
2017 Budget
2014 2015 2016 2016 2017
Account Description Actual Actual Budget Revised Budget
055-BAE-Superfund Site
TIF#20
Beginning Fund Balance As of January 1 (Estim (32,220) (32,220) (32,220) (48,410) (48,310)
Revenues
City Revenues
Tax Levy - - 210,000 400,000 743,600
Tax Levy-Delinquent Years - - - - -
- - 210,000 400,000 743,600
Other Miscellaneous Revenue
Interest on Investment Earnings (286) - -
(286) - - -
Total Revenues-BAE - (286) 210,000 400,000 743,600
Expenditures
Purchased Services
Professional Services/Administrative Fees - 15,904 40,000 40,000 74,400
Advertising - - - - -
Other Services/Charges(Complete Ground Ser - - - - -
Other Services/Charges(Pymts to Other Govt- - - - - -
Interest Expense - - - 200 200
Developer Assistance - - 189,000 359,700 669,200
- 15,904 229,000 399,900 743,800
Total Expenditures-BAE - 15,904 229,000 399,900 743,800
Net income-BAE - (16,190) (19,000) 100 (200)
Projected Ending Fund Balance As of Decembei (32,220) (48,410) (67,410) (48,310) (48,510)
056-BAE-Hazardous Subdistrict
TIF#20a
Beginning Fund Balance As of January 1 (Estim (286,132) (545,066) (545,066) (1,312,372) (2,404,872)
Revenues ,
City Revenues
Tax Levy 350,173 339,697 350,200 338,100 330,400
Tax Levy-Delinquent Years - - - - -
350,173 339,697 350,200 338,100 330,400
Other Miscellaneous Revenue
Interest on Investment Earnings (4,325) - -
(4,325)
- - -
Total Revenues-BAE-Hazardous Subdistrict 350,173 335,372 350,200 338,100 330,400
Expenditures
Purchased Services
Professional Services/Administrative Fees 66,403 4,212 2,500 33,800 33,000
Advertising - - - - -
Other Services/Charges(Courier) 15 - - - -
Other Services/Charges(Pymts to Other Govt- 1,745 1,223 1,000 1,000 -
Interest Expense 45,900 84,100
Developer Assistance-(HRA HSS Grant) 540,944 1,097,243 1,250,000 1,349,900 1,232,000
609,107 1,102,678 1,253,500 1,430,600 1,349,100
Total Expenditures-BAE-Hazardous Subdistri 609,107 1,102,678 1,253,500 1,430,600 1,349,100
Net Income-BAE-Hazardous Subdistrict (258,934) (767,306) (903,300) (1,092,500) (1,018,700)
Projected Ending Fund Balance As of Decembei (545,066) (1,312,372) (2,215,672) (2,404,872) (3,423,572)
K:\HRA\HRA Budgets\2017 Budget12017 HRA Budgets Unaudited Data-For Management Purposes Only
Fridley Housing&Redevelopment Authority
2017 Budget
2014 2015 2016 2016 2017
Account Description Actual Actual Budget Revised Budget
057-Northstar Station
TIF#22
Beginning Fund Balance As of January 1 (Estim (3,841) (11,119) (11,119) (315) (315)
Revenues
City Revenues
Tax Levy - - -
Tax Levy-Delinquent Years -
Interest on Investment Earnings - (108) - - -
(108) - -
Other Financing Sources
Transfer In from other Funds 17,487 - - -
Total Revenues-Northstar Station 17,379 -
Expenditures
Purchased Services
Professional Services/Administrative Fees 2,958 1,895 10,000
-
Advertising - -
Other Services/Charges 4,320 4,680 4,000 -
Other Services/Charges(Pymts to Other Govt- - - - _
-
- -
Capital Outlay - - -
7,278 6,575 14,000 - -
Total Expenditures•Northstar Station 7,278 6,575 14,000 -
Net income Northstar Station (7,278), 10,804 (14,000) -
Projected Ending Fund Balance As of December (11,119) (315) (14,315) (315) (315)
065-Housing Replacement(1997-2029)Scattered Site
Beginning Fund Balance As of January 1 (Estim 144,138 56,816 56,816 153,881 182,081
Revenues
City Revenues
Tax Levy ` 22,510 35,058 35,000 30,300 28,600
Tax Levy-Delinquent Years
22,510 35,058 35 000 30 300 28 600
Other Miscellaneous Revenue
Interest on Investment Earnings 7,616 1,777 4,000 900 900
Sale of Misc Property 64,360 84,841 35,000
Miscellaneous Revenues, - -
-
71,976 86,618 39,000 900 900
Total Revenues-Housing Replacement 94,486 121,876 74,000 31,200 29,888
Expenditures_
Purchased Services"
Profesnal'Services/Administrative Fees 10,208 10,737 4,000 3,000 2,900
Other Charges 1,177 235 300 - _
Services Contracted(Mowing Contract) 4,060 12,100 4,000
Other rvices&Charges/Pymts to other govts 3,453 1,539 1,500
Capital Outlay/Building (Home Demolitions) 162,910 - 300,000 - -
181,808 24,611 309,800 3,000 2,900
Other Financing Uses
Transfer to Other Funds(General Fund) - - -
Total Expenditures-Houshtg Replacement 181,886 24;811 308,000 3,000
Net Income-HousingReplacement (PAZ 122), 87.080. 8 06th
Projected Ending Fund Balance As of Decembei 56,816 153,881 (81,919) 182,081 208,681
K:\HRA\HRA Budgets\2017 Budget12017 HRA Budgets
Unaudited Data-For Management Purposes Only
MON ROE 7760 France Avenue South r 952.885.5999
MOXNESS Suite 700 F 952.885.5969
Minneapolis,MN 55435-5844 MMBLawFirm.com
BERG
James R.Casserly
jcasserly@MMBLawFirm.com
Direct 952.885.1296
MEMORANDUM
To: City of Fridley
Attn: Wally Wysopal, City Manager
Paul Bolin, HRA Assistant Executive Director
Scott Hickok, Community Development Director
Shelly Peterson, Finance Director
From: Monroe Moxness Berg PA
Attn: James R. Casserly, Esq.
Sevenich, Butler, Gerlach & Brazil, Ltd.
Attn: Greg D. Johnson, CPA
Date: August 17, 2016
Re: 2016 HRA Cash Flow Projections
Our File No. 9571-39
INTRODUCTION
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 12-31-2015, the HRA had fund
balances in all development accounts of $7.4 million, and cash balances of $8.4 million. The table
below provides an overview of these balances:
ACTUAL ACTUAL Projected Projected Projected
12/31/14 12/31/15 12/31/16 12/31/17 12/31/18
HRA Fund Balances $8.1M $7.4M 6.8M 6.5M 7.4M
HRA Cash- Unrestricted 7.9M $7.2M 6.5M 6.1M 6.9M
HRA Cash- Restricted 1.1M $1.2M 1.3M 1.4M 1.6M
Not reflected in the available cash balance is $1.0M in Mortgage Receivables recorded in the Revolving
Loan Fund. Over time, the HRA should be able to collect these funds, and have them available for
other HRA initiatives. The HRA has no G.O. bonds outstanding at this time. HRA Cash Balances are
approximately 1.0M higher than Fund Balances. This is primarily due to a $1.5M loan by the City to the
HRA General Fund for Columbia Area acquisition and related costs. If private development occurs on
this site, tax increment is expected to be used to repay this loan. If a public use is developed, the loan
will be forgiven. As in prior years, the Cash Balance is the best estimate of funds available for
HRA authorized uses.
This report contains the following schedules on the following pages:
1 - 2 TIF Fund Summary Year End Fund Balances for all TIF Districts (2013-2028)
3 Cash Balances Actual 2013-2015; Projected 2016-2020
4-5 HRA Interfund Loans Actual 2013-2015; Projected 2016-2028
6 Assumptions Class Rates, Tax Rates
7 - 8 Revenues Developer loan, Special Assessments, Other
9 - 10 Revenue Notes Payment Due in all TIF Funds
11 - 29 TIF Funds 1 —22 (2013 through 2028)
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'l Fd)
ANALYSIS
1. TIF #6 (Medtronic) — This district will continue for another ten years, before required
decertification at 12-31-2025. During this time, the HRA should receive 5% admin fees of about
$31,000 annually and land sale receipts from Medtronic of approximately $125,000 annually.
There is a negative fund balance in TIF #6 which will be zeroed out by the end of the district.
2. TIF#9 (Onan) &TIF#16(Linn)—TIF#9 were decertified as of 12-31-2015. About$16M
of new taxable market value and 328,000 of new tax capacity is now available to the various
taxing jurisdictions.
3. TIF#11, #12 
 (Northstar Station Area pooling)—Due to special legislation the authority
received, TIF Districts#11, #12 
 are 100% poolable for costs in the Northstar Station area,
which is identified as TIF #22. By the end of 2016, there will be about $627,000 in available
funds from these three TIF Districts and approximately $1.1M by the time these TIF Districts
must be decertified, which is 2018, 2019 and 2023 respectively. Since TIF #11 must be
decertified by 12-31-2018, approximately 407,000 of projected available funds in this district
should be spent, or commitments made to spend,for eligible costs in the Northstar Station Area.
4. TIF #17 (GW East)  (GW West)—The admin fees in these two TIF districts have risen to
the level where they have exceeded, and will continue to exceed, the maximum allowed by law
(10% of tax increment). The original properties in TIF Districts #17 & #18 took a significant
amount of time and resources to acquire,which contributed to high admin fees. No further admin
fees should be taken from these two TIF Districts.
5. TIF #19 (5110 Main St)—As part of the Ominbus Public Finance Bill of 2009, the 5-Year Rule
was extended to 10 years. In TIF #19, new expenditures are allowed for up to 10 years after
the district was certified. The HRA may have an opportunity for maximizing the resources of
this TIF district for the Northstar Project area or housing programs. The district was certified on
September 25, 2007, so there is still time to review this option. Costs need to be incurred or
committed to by September, 2017. Approximately $400,000 could be available.
6. TIF #20 (BAE Site)—We have only included tax increment on the two buildings in Phase I and
the Phase II BAE office building, which represents current construction on the site. As future
development progresses, we will add additional value and tax increment projections. Full
development of the site should show approximately 1.7 million sq. feet of bulk warehouse,
showroom and office space with a completed assessed value of$109 million. 90% of the tax
increment is to be used to pay revenue notes to reimburse for TIF eligible project costs.
2
7. TIF#20A(BAE Site— HSS) —The Hazardous Substance Subdistrict was created to assist with
remediation costs in TIF#20. The HRA has started to receive tax increment in 2014 and should
continue to receive approximately$316,000 annually. Since the HRA is advancing up to $4.5M
for the remediation costs with the use of interfund loans, the tax increment from the HSS will be
used to reimburse the HRA General Fund for these costs plus interest at 3.5%.Also, 10%admin
fees have also been projected to be taken from this district before payment of the interfund loan.
8. TIF #21 (Gateway NE) —The HRA has spent well over $4.0M in the Gateway Northeast area.
Through redevelopment of this area, the HRA hopes to recover its costs through the collection
of tax increment. Current development for phases I & II is valued at approximately$20.1 M. The
first receipt of tax increment of approximately $158,000 will begin in 2017.After recovering 10%
of the TI for admin fees, the available tax increment will repay the interfund loan to the HRA
General Fund, plus interest at 3.5%.
9. TIF #22 (Northstar Transit Station District) — We have not included the anticipated market
value of the redevelopment of this district which 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 should be a new development on the old JLT site. Receipt of first tax increment was
delayed until 2017 and will be collected through 2042. Since no new development has occurred,
any tax increment received would be the result of inflation in assessed values.
10. Housing Replacement Program (HRP)—Tax increment is only collected for 15 years on each
property in the HRP. Phases 1 & 2 started in the 1990's have already been decertified. Phase
3 started in 2003 and Phase 4 started in 2007. With new legislation recently passed, parcels in
new phases have been added. Phase 12 was approved in 2015. The fund balance and tax
increment may only be spent on projects eligible for inclusion in the HRP.
11. Revolving Loan Fund (RLF)—There is approximately$2.2M of cash in this fund to assist with
the HRA's housing programs and the commercial loan program adopted this year.
12. Interfund Loans — The HRA General Fund shows a 12/31/2014 fund balance of $10.0M, but
only a cash balance of$5.9M. Inter-fund loans of$5.5M have been advanced to cover negative
fund balances in the following Districts:
TIF #6 (Lake Pointe— Medtronic) 325,303 Expect to be repaid
TIF #17 (Gateway East) 391,653 Expect to be repaid
TIF #18(Gateway West) 440,109 Expect to be repaid
TIF #20 (BAE Site) 47,009 Expect to be repaid
TIF #20A(BAE Site— HSS) 1,312,773 Expect to be repaid, with int.
TIF #21 (Gateway Northeast) 3,388,173 Expect to be repaid, with int.
TIF #22 (Northstar Transit Station) 108 Use TIF#11 to repay
Total Interfund Loans 5.905.128 *
* The Interfund loan amount is expected to increase to $8.0M by 12-31-2017. This
increase is related to TIF 20A(BAE Site) HRA Authority Grants which will be recovered
from future tax increment in the Hazardous Substance Subdistict (TIF 20A). Both TIF
20A&TIF 21 are repaying interfund loan amounts with interest at 3.5%.
3
RECOMMENDATIONS
Our recommendations are as follows:
1. In both TIF #17 and TIF #18, cumulative administrative fees exceed the maximum allowed.
No more admin fees should be taken out of these two TIF districts. Other funds will be
needed to adjust these amounts.
2. The cash balance in TIF 21 (Gateway NE) should be used to reduce the interfund loan
balance, if appropriate. The cash balance at the end of 2015 was $190,000.
3. Interest expense should be recorded and paid in TIF Districts # 20A and #21. Interest
expense in these districts is a TIF eligible expense and the HRA is planning on interest being
repaid in order to fund future activities.
4. Review low income housing needs to determine if future TIF #19 tax increment can be
utilized.
5. Review potential expenses through 2018 to determine available cash for projects.
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 only included committed project
expenses (e.g. pollution clean-up costs advanced for the BAE Site)for the years 2016 and thereafter.
In addition we have projected some HRA 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 TIF Fund Balances at 0.5% and only through 2018.
We look forward to reviewing with you this Cash Flow Analysis and its underlying assumptions.
JRC/GDJ/Iar
Enclosures
MMB:4842-3711-1850,v. 1
4
•
CITY OF FRIDLEY,MINNESOTA Page 1
HRA SUMMARY
Fund Balances
0.0%;Inflation Actual Actual, Actual Projected Projected Projected Projected Projected
City Fund Fund Fund Fund Fund Fund Fund Fund
Fund TIF Term of Balance Balance Balance Balance Balance Balance Balance Balance
# # Description District Type 12131/13 12/31/14 12131/15 12131116 12/31117 12/31118 12131/19 12131120
100 HRA General Fund(non-increment) 11,410,921 9,982,060 9,462,074 9,795,248 10,230,697 10,707,785 11,207,520 11,695,290
501 Housing Replacement 7/18/1996-12/2022 H 144,138 56,816 153,881 181,976 , 208,641 229,310 250,082 270,958
Decertify#11 Decertify#12
455 6 Lake Pointe(Medtronic) 12/1985-12/2025 R 1447,886), (415,344) (385,927) (353,6911 (321,378) (289,064) (257,849) (226,635)
458 9 Onan/Murphy-DECERTIF DECERTIFIED R 784,992 54,408 (0) (0) (0) (0) (0) (0)
----------------------------------------------
Totals-Pre'90 Districts 337,106 (360,936) (385,927) (353,691) (321,378) (289,064) (257,849)
(226,635)
TIF 11,12,13 available only for Northstar Transit Station District
462 11 University/Osborne 01/1992-12/2018 R 191,830 237,619 263,092 309,744 358,354 c 407,206 407,206 407,206
463 12 McGlynn Bakeries 03/1992-12/2019 R 72,450 96,061 118,950_ 146,391 189,166 232155 c 274,193 274,193
464 13 Satellite Lane Apts 06/1995-12/2023 R 71,521 102302 136,952 172,603 208,588 244,752 27g,872 314,993
467 16 57th Ave(Linn)-DECERTIF DECERTIFIED R (28,679) (9,746) (0) (0) (0) (0) (0) (0)
468 17 Gateway East 2001-12/2028 R (649,547) (629,738) (381,9511 (351,649) (320,703) (289,757) (258,866) (227,974)
470 18 Gateway West 2005-12/2033 R (631,206). (539,342) (409,030) (388,0811 (361,716) (335,351) (309,142) (282,934)
472 19 5110 Main St NE(Ind Eq) 2007-12/2034 R (3,346) (3,749) (4,6561 (4,451) (4,245) (4,037) (4,037) (4,037)
20 BAE Site(Northern Stacks) 2012-12/2041 R (32,220) (32,220) (48,4101 (48,652) (48,895) (49,140) (49,385) (49,632)
20A BAE Site(1-ISS) 2012-12/2039 HSS (286,132) (545,066) (1,312,372) (2,402,880), (3,421,644) (3,256,453) (3,085,481) (2,908,524)
474 21 Gateway Northeast 2012-12/2042 R (4,130,712) (3,199,850) (3,198,3271 (3,315,964) (3,295,293) (3,273,899) (3,103,777) (2,927,700)
22 Northstar Transit Station Di; 2013-12/2042 R (3,841) (11,119) (3151 --(3151-- (315)----(315)- (315) (315)
Totals-Post'90 Districts (5,429,8821- (4,534,848) (4,836,067) (5,883,253) (6,696,704) (6,324,839) (5,849,731) (5,404,724)
I
Totals-TIF Districts 1-19 (5,092,775) (4,895,7831, (5,221,9931 (6,236,944) (7,018,081) (6,613,903) (6,107,580) (5,631,358)
Total FUND Balance-All TIF Districts&HRA Gen'l Fund 6,462,284 5,143,093 4,393,962 3,740,280 3,421,257 4,323,191 5,350,021 6,334,889
265 Revolving Loan Fund 3,927,963 2,959,113 3,013,847 3,060,938 3,108,263 3,155,826 3,203,626 3,251,665
265 Special Revenue/Housing Programs 0 0 0 0 0 0 0 0
-�- _ a ---
Total FUND Balance(TIF,Gen'l Fund,Revolving Loans)' 10,390,247 8,102,206 7,407,8 6,801,217 6,529,520 i 7,479,017 8,553,647 �
09 9,586,554
CASH Balances 9,896,629 8,971,879 8,436,987 7,820,649 7,548,952 8,498,449 9,573,079 10,605,986
AVAILABLE USES -
Unrestricted
GE HRA General Fund 11,410,921 9,982,060 9,462,074 9,795,248 10,230,697 10,707,785 11,207,520 11,695,290
RLF Revolving Loan Fund 3,927,963 2,959,113 3,013,847 3,060,938 3,108,263 3,155,826 3,203,626 3,251,665
Restricted l _
I 6 Pre'90 TIF District 337,106 (360,936) 1385,9271 (353,691) (321,378) (289,064) (257,849) (226,635)
11-13 Northstar Station Area Costs 335,801 435,982 518,994 628,738 756,107 884,113 961,272 996,392
16-22 Post'90 TIF Districts I (5,765,683) (4,970,830) (5,355,0611 (6,511,991), (7,452,811) (7,208,953) (6,811,003) (6,401,116)
HRP Housing Replacement Program 144.138 _______56,816 153,881 181,976 208,641 229,310 250,082 270,958
Total Available FUND Balances 10,390,247 8,102,206 7,407,809 6,801,217' 6,529,520 7,479,016 8,553,647 9,586,554
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
,
CITY OF FRIDLEY,MINNESOTA Page 2
HRA SUMMARY
Fund Balances
0.0% Inflation Projected Projected Projected Projected Projected. Projected Projected Projected
City Fund Fund Fund Fund Fund Fund Fund Fund
Fund TIF Term of Balance Balance Balance Balance Balance Balance Balance Balance
# # Description District Type 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26 12/31/27 12131/28
1
100 HRA General Fund(non-increment) 12,163,444 12,623,254 13,074,457 13,512,712 13,941,446 14,200,362 14,447,838 14,682,520
501 Housing Relacement 7/18/1996-12/2022 H 291,938 311,543 331,245, 351,047 370,947 390,946 411,046 423,681
Decertify#13_ Decertify#6 Decertify#17
455 6 Lake Pointe(Medtronic) 12/1985-12/2025 R (195,420) (164,205) (132,990) (101,775)((70,560 (70,560) (70,560) (70,560)
458 9 Onan/Murphy-DECERTIF DECERTIFIED R (0) (0) (0) (0) (0) (0) (0) (0)
Totals-Pre'90 Districts (195,420) (164,205) (132,990) (101,775) (70,560), (70,560) (70,560) (70,560)
TIF 11,12,13 available only for Northstar Transit Station District
462 11 University/Osborne 01/1992-12/2018 R 407,206 407,206 407,206_ 407,206 407,206 407,206 407,206 407,206
463 12 McGlynn Bakeries 03/1992-12/2019 R 274,193 274,193 274 193 274,193 274,193 274,193 274,193 274,193
464 13 Satellite Lane Apts 06/1995-12/2023 R 350,113 385,233 420,35,3: 420,353 420,353 420,353 420,353 420,353
467 16 57th Ave(Linn)-DECERTIF DECERTIFIED R (0) (0) (0) (0) (0) (0) (0) (0)
468 17 Gateway East 2001-12/2028 R (197,082) (166,190) (135,298) (104,407) (73,515) (42,623) (11,731)T_ 19,161;
470 18 Gateway West 2005-12/2033 R (256,726) (230,517) (204,309) (178,100) (151,892) (125,683) (99,475) (73,267)
472 19 5110 Main St NE(Ind Eq) 2007-12/2034 R (4,037) (4,037) (4,037) (4,037) (4,037) (4,037) (4,037) (4,037)
20 BAE Site(Northern Stacks) 2012-12/2041 R (49,881) (50,130) (50,381) (50,633) (50,886) (51,140) (51,396) (51,653)
20A BAE Site(HSS) 2012-12/2039 HSS (2,725,374) (2,535,814) (2,339,619) (2,136,558) (1,926,389) (1,708,865) (1,483,727) (1,250,709)
474 21 Gateway Northeast 2012-12/2042 R (2,745,460) (2,556,842) (2,361,622) (2,159,570) (1,950,445) (1,734,002) (1,509,982) (1,278,123)
22 Northstar Transit Station Di: 2013-12/2042 R (315) (315) (315) (315) (315) (315) (315) (315)
Totals-Post'90 Districts (4,947,362) (4,477,213) (3,993,829) (3,531,866) (3,055,726) (2,564,912) (2,058,911) (1,537,190)
I
Totals-TIF Districts 1-19 (5,142,782) (4,641,417) (4,126,818) (3,633,641) (3,126,286) (2,635,472) (2,129,471) (1,607,750)
Total FUND Balance-All TIF Districts&HRA Gen'l Fund 7,312,601 8,293,379 9,278,884 10,230,118 11,186,106 11,955,836 12,729,413 1.3,498,451
1 H
265 Revolving Loan Fund j- 3,299,944 3,348,465 3,397,229 3,446,236 3,495,488 3,544,987 3,594,733 3,644,727
265 Special Revenue/Housing Programs 0 0 0 0 0 0 0 0
Total FUND Balance(TIF,Gen'l Fund,Revolving Loans) 10,612,545 11,641,844 j 12,676,113 1 13,676,354 14,681,594 15,500,823 16,324,146 17,143,179
CASH Balances 11,631,977 12,661,276 13,695,545 14,695,786 15,701,026 16,520,255 17,343,578 18,162,611
AVAILABLE USES
Unrestricted
GF HRA General Fund 12,163,444 12,623,254 13,074,457 13,512,712 13,941,446 14,200,362 14,447,838 14,682,520
RLF Revolving Loan Fund 3,299,944 3,348,465 3,397,229 3,446,236 3,495,488 3,544,987 3,644,727
Restricted 1
I 6 Pre'90 TIF District (195,420) (164,205) (132,990) (101,775), (70,560) (70,560) (70,560) (70,560)
11-13 Northstar Station Area Costs 1,031,512 1,066,632 1,101,753 1,101,753 1,101,753 1,101,753 1,101,753 1,101,753
16-22 Post'90 TIF Districts I (5,978,874) (5,543,845) (5,095,581) (4,633,619) (4,157,479) (3,666,665) (3,160,663) (2,638,942)
HRP Housing Replacement Program 291,938 311,543 331,245 351,047 370,947 390,946 411,046 423,681
Total Available FUND Balances 10,612,545 11,641,844 12,676,113 13,676,353 14,681,594 15,500,822 1 16,324,146 17,143,178
I
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY.MINNESOTA Page 3
SUMMARY OF HRA CASH BALANCES
Actual Actual Actual Projected Projected Projected Projected Projected
12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20
CASH BALANCES
HRA General Fund 4,441,177 5,903,368 5,063,906 4,272,180 3,798,916 4,551,968 5,480,868 6,409,740
HRP Housing Replacement Program 745,373 57,134 157,052 185,147 211,812 232,481 253,253 274,129
RLF Revolving Loan Fund 3,030,413 2,026,739 2,192,462 2,239,552 2,286,878 2,334,440 2,382,241 2,430,280
Debt Service
TIF Districts(Capital Projects Funds)
Pre'90
6 Lake Pointe(Medtronic) 191,833 201,692 219,703 219,703 219,703 219,703 219,703 219,703
9 Onan/Murphy-DECERTIFIED 784,992 53,745 0 0 0 0 0 0
Post 90
11 University/Osborne 191,830 237,586 264,036 310,688 359,298 408,151 408,151 408,151
12 McGlynn Bakeries , 72,450 96,061 119,889 147,330 190,105 233,094 275,132 275,132
13 Satellite LaneApts 71,521 101,021 137,227 172,878 208,863 245,027 280,147 315,268
16 57th Ave(Linn)-DECERTIFIED 10,081 10,999 9,746 (0) (0) (0) (0) (0)
17 Gateway East 12,106 11,915 10,758 10,758 10,758 10,758 10,758 10,758
18 Gateway West 38,903 40,767 31,319 31,319 31,319 31,319 31,319 31,319
19 5110 Main St NE(Ind Eq) 42,035 39,918 41,043 41,248 41,454 41,662 41,662 41,662
20 BAE Site(Northern Stacks) 1,565 780 0
20A BAE Site(HSS) 950 0
21 Gateway Northeast 262,126 188,323 189,846 189,846 189,846 189,846 189,846 189,846
22 Northstar Transit Station District 224 881
Investments(Interest Receivable) 0 0 0 0 0 0 0 0
TOTAL CASH BALANCES 9,896,629 , 8,971,879 8,436,987 7,820,649 7,548,952 8,498,449 9,573,079 10,605,986
I
Annual Change (140,305) (924,750) (534,892) (616,338) (271,697) 949,497 1,074,630 1,032,907
AVAILABLE USES
Unrestricted
GF HRA General Fund 4,441,177 5,903,368 5,063,906 4,272,180 3,798,916 4,551,968 5,480,868 6,409,740
RLF Revolving Loan Fund 3,030,413 2,026,739 2,192,462 2,239,552 2,286,878 2,334,440 2,382,241 2,430,280
Restricted
6 Pre'90 TIF District 191,833 201,692 219,703 219,703 219,703 219,703 219,703 219,703
9 Pre'90 TIF District 784,992 53,745 0 0 0 0 0 0
11-13 Northstar Station Area Costs 335,801 434,668 521,152 630,896 758,265 886,271 963,430 998,550
16-22 Post'90 TIF Districts 367,040 294,533 282,712 273,171 273,377 273,585 273,585 273,585
HRP Housing Replacement Program 745,373 57,134 157,052 185,147 211,812 232,481 253,253 274,129
Total Available CASH Balances 9,896,629 8,971,879 (8,436,987) 7,820,649 7,548,952 8,498,448 ' 9,573,079 10,605,986
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CITY OF FRIDLEY,MINNESOTA Page 4
SUMMARY OF HRA INTERFUND LOANS 1
Actual Actual Actual Projected Projected Projected Projected Projected
12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20
INTERFUND LOANS
HRA General Fund-RECEIVABLE 7,005,931 5,546,931 5,905,128 7,030,028 7,938,740 7,662,776 7,233,612 6,792,510
HRP Housing Replacement Program (600,000) 0 0 0 0 0 0 0
RLF Revolving Loan Fund 0 0 0 0 0 0 0 0
Pre'90 0 0 0 0 0 0 0 0
6 Lake Pointe(Medtronic) (325,303) (325,303) (325,303) (293,067) (260,754) (228,441) (197,226) (166,011)
Post 90 0 0 0 0 0 0 0 0
11 University/Osborne 0 0 0 0 0 0 0 0
12 McGlynn Bakeries 0 0 0 0 0 0 0 0
13 Satellite Lane Apts 0 0 0 0 0 0 0 0
16 57th Ave(Linn) (38,760) (20,760) 0 0 0 0 0 0
17 Gateway East (661,653) (641,653) (391,653) (361,351) (330,405) (299,459) (268,568) (237,676)
18 Gateway West (670,109) (580,109) (440,109) (419,160) (392,795) (366,430) (340,222) (314,013)
19 5110 Main St NE(Ind Eq) 0 0 0 0 0 0 0 0
20 BAE Site(Northern Stacks) (33,000) (33,000) (47,009) (47,251) (47,494) (47,739) (47,984) (48,231)
20A BAE Site(HSS) (284,933) (545,933) (1,312,773) (2,403,281) (3,422,045) (3,256,854) (3,085,882) (2,908,925)
21 Gateway Northeast (4,388,173) (3,388,173) (3,388,173) (3,505,810) (3,485,139) (3,463,745) (3,293,623) (3,117,546)
22 Northstar Transit Station District (4,000) (12,000) (108) (108) (108) (108) (108) (108)
Investments(Interest Receivable) 0 0 0 0 0 0 0 0
00 0 0 0 0 0 0
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•
SUMMARY OF HRA INTERFUND LOANS
Projected Projected Projected Projected Projected Projected Projected Projected
12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26 12/31/27 12/31/28
INTERFUND LOANS
HRA General Fund-RECEIVABLE 6,339,054 5,872,810 5,393,331 4,900,154 4,382,862 3,892,048 3,386,046 2,864,325
HRP Housing Replacement Program 0 0 0 0 0 0 0 0
RLF Revolving Loan Fund 0 0 0 0 0 0 0 0
Pre '90 0 0 0 0 0 0 0 0
6 Lake Pointe(Medtronic) (134,796) (103,581) (72,367) (41,152) 0 0 0
Post'90 0 0 0 0 0 0 0 0
11 University/Osbome 0 0 0 0 0 0 0 0
12 McGlynn Bakeries 0 0 0 0 0 0 0 0
13 Satellite Lane Apts 0 0 0 0 0 0 0 0
16 57th Ave(Linn) 0 0 0 0 0 0 0 0
17 Gateway East (206,784) (175,892) (145,000) (114,109) (83,217) (52,325) (21,433) 9,459
18 Gateway West (287,805) (261,596) (235,388) (209,179) (182,971) (156,763) (130,554) (104,346)
19 5110 Main St NE(Ind Eq) 0 0 0 0 0 0 0 0
20 BAE Site(Northern Stacks) (48,480) (48,729) (48,980) (49,232) (49,485) (49,739) (49,995) (50,252)
20A BAE Site(HSS) (2,725,775) (2,536,215) (2,340,020) (2,136,959) (1,926,790) (1,709,266) (1,484,128) (1,251,110)
21 Gateway Northeast (2,935,306) (2,746,688) (2,551,468) (2,349,416) (2,140,291) (1,923,848) (1,699,828) (1,467,969)
22 Northstar Transit Station District (108) (108) (108) (108) (108) (108) (108) (108)
Investments(Interest Receivable) 0 0 0 0 0 0 0 0
0 0 0 0 0 (0) 0 (0)
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 6
ALL TIF DISTRICTS
ASSUMPTIONS
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL Projected Projected Projected Projected Projected
2021
2012 2013 2014 2015 2016 2017 2018 2019 2020 &beyond
Interest Earnings(on positive fund balance) 0.50% 0.50% 0.50% 0.00% 0.00% 0.00%
Interest Expense(on negative fund balance) 0.50% 0.50% 0.50% 0.00% 0.00% 0.00%
Administrative Fees 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Admin Fee Limitations
Districts with Cert Req Date before 8/1/01- Lesser of 10%of budgeted expenditures or 10%of actual expenditures TIF 6 TIF 6 TIF 6
Districts with Cert Req Date after 7/31/01- Lesser of 10%of budgeted expenditures or 10%of actual TIF revenues TIF 11- TIF 11 - TIF 11 -
1 1 11 11
Commercial I Industrial
Market Value Base 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000
Base Rate 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 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% 2.00% 2.00%
Rental-Market Rate
Market Value Base 0 0 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% 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% 1.25% 1.25%
Rental-Low income!Class 4d (TIF#1)
Market Value Base 0 0 0 0 0 0 0 0 0 0
Base Rate 0.75% 0.75% 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% 0.75% 0.75%
Residential Homestead
Market Value Base 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000
Base Rate 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 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% 1.25% 1.25%
Tax Collection Rate 99.64% 99.64% 99.64% 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% 0 00% 0 00%
Fiscal Disparities Reduction-TIF#3
(percent of captured tax capacity)
•
Local Tax Rates*
City of Fridley 0.39615 0.47362 0.48577 0.43508 0.44960 0.44960 0.44960 0.44960 0.44960 0.44960
Anoka County 0.41146 0.44411 0.43239 0.38123 0.38894 0.38894 0.38894 0.38894 0.38894 0.38894
ISD#
Misc
Watershed
TI Districts ISD District
113 116 17,11 14 6 Cities 1.32490 1.51333 1.50927 1.38644 1.47084 1.47084 1.47084 1.47084 1.47084 1.47084
14 Rice Creek 1.34799 1.52513 1.51664 1.39132 1.47728 1.47728 1.47728 1.47728 1.47728 1.47728
21 14 Mississippi 1.52591 1.51875 1.39410 1.47622 1.47622 1.47622 1.47622 1.47622 1.47622
11 12 16 6 Cities 1.28071 1.45661 1.45937 1.30267 1.32441 1.32441 1.32441 1.32441 1.32441 1.32441
6 19 20 13 Mississippi 1.12652 1.29928 1.27147 1.23550 1.22812 1.22812 1.22812 1.22812 1.22812 1.22812
23 16 Rice Creek 1.30380 1.46841 1.46674 1.30755 1.33085 1.33085 1.33085 1.33085 1.33085 1.33085
Average: 1.27678 1.46478 1.45704 1.33626 1.38462 1.38462 1.38462 1.38462 1.38462 1.38462
*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).
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1
OTHER REVENUES 1
Principal Int.Rt. Term 2012 2013 2014 2015 2016 2017 2018 2019 2020 1
HRA General Fund
2016 Levy 2017 Levy
Tax Levy 428,756 373,036 380,010 357,968 397,000 408,362 408,362 408,362 408,362
Rental $800 per mn (2001-Frauenshuh Pkg Lot) 9,600 9,603 9,600 10,400 10,400 10,400 10,400 10,400 10,400
SUBTOTAL-HRA General Fund Revenues • 438,356 382,639 389,610 368,368 407,400 418,762 418,762 418,762 418,762
OTHER
ACCAP Loan(HLP-Fund 265) Annual Payments
$57,500 7.25% (8/1996-8/2025) 3,798 3,798 3,798 3,798 3,798
TIF Admin Fees 182,171 99,860 124,756 90,417 130,723 182,998 192,070 217,482 212,811
TIF 20A-Interest on Interfund Loan 0 45,933 84,101 119,758 113,976 107,992
TIF 21-lnterest.on Interfund Loan 0 118,586 122,703 121,980 121,231 115,277
other
TOTALS 1 $ 647,500 620,527 482,499 514,366 458,785 706,439 812,362 856,367 875,249 858,639
1 1
HRA General Fund
!Medtronic Land Sale Receipts 144,324 43,914 129,609 123,983 124,548 124,859 124,859 124,859 124,859
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OTHER REVENUES
Principal Int.Rt. Term 2021 2022 2023 2024 2025 2026 2027 2028
HRA General Fund u
Tax Levy 408,362 408,362 408,362 408,362 408,362 408,362 408,362 408,362
Rental $800 per mn (2001-Frauenshuh Pkg Lot) 10,400 10,400 10,400 10,400 10,400 10,400 10,400 10,400
SUBTOTAL-HRA General Fund Revenues , 418,762 418,762 418,762 418,762 418,762 418,762 418,762 418,762
OTHER
ACCAP Loan(HLP-Fund 265) Annual Payments
$57,500 7.25% (8/1996-8/2025) 3,798 3,798 3,798 3,798 3,798
TIF Admin Fees 200,907 200,743 200,743 196,841 196,841 165,626 165,626 164,785
TIF 20A-Interest on Interfund Loan 101,798 95,388 88,753 81,887 74,780 67,424 59,810 51,930
TIF 21-Interest on Intertund Loan 109,114 102,736 96,134 89,301 82,230 74,910 67,335 59,494
other
TOTALS $ 647,500 834,379 821,426 808,190 790,588 776,409 726,722 711,533 694,972 •
HRA General Fund
Medtronic Land Sale Receipts 124,859 124,859 124,859 124,859 124,859 0 0 0
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REVENUE NOTE PAYMENTS
Actual Actual Actual Projected Projected Projected Projected Projected Projected
Principal Int.Rt. %of TI Term 2013 2014 2015 2016 2017 2018 2019 2020 2021
TIF#6(Lake Pointe) "Reimbursement Payments"
Medtronic
All Eligible Ex; 6.75% 90%of TI 8/2001-2/2012 357,202 583,299 557,975 _ 560,466 561,867 561,867 561,867 561,867 561,867
90%of TI 8/2012-2/2026
•
TIF#19
Industrial Equities-5110 Main St.NE Final Payment
1,500,000 7.00% 90%of TI 8/2009-2/2021 91,651 87,892 90,640 97,876 107,134 107,134 107,134 107,134 0
TIF#20
BAE Site(RER)
5.75% 90%of TI 8/2016-2/2042 0 359,641 669,198 769,362 896,201 896,201 896,201
REVIEW BENEFIT TO HRA OF PREPAYING ANY REV.NOTE
Total Revenue Notes 448,853 671,191 648,615 1,017,983 1,338,200 1,438,364 1,565,202 1,565,202 1,458,068
variance 0 0 0 0 0 0 0 0 0
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CITY OF FRIDLEY,MINNESOTA Page 10
REVENUE NOTE PAYMENTS
Projected Projected Projected Projected Projected Projected Projected Projected
Principal Int.Rt. %of TI Term 2022 2023 2024 2025 2026 2027 2028 2029
1 _
TIF#6(Lake Pointe) "Reimbursement Payments"
Medtronic Final Payment
All Eligible Ex; 6.75% 90%of TI 8/2001-2/2012 561,867 561,867 561,867 561,867 0 0 0 0
90%of TI 8/2012-2/2026
TIF#19
Industrial Equities-5110 Main St.NE ,
1,500,000 7.00% 90%of TI 8/2009-2/2021 0 0 0 0 0 0 0 0
TIF#20
BAE Site(RER)
5.75% 90%of TI 8/2016-2/2042 896,201 896,201 896,201 896,201 896,201 896,201 896,201 896,201
REVIEW BENEFIT TO HRA OF PREPAYING ANY REV.NOTE
Total Revenue Notes , 1,458,068 1,458,068 1,458,068 1,458,068 896,201 896,201 896,201 896,201
variance 0 0 0 0 0 0 0 0
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---I---
TIF DISTRICT#6 County#E8 -I TIF DISTRICT#6 MM.=
Lake Pointe(Medtronic) City Fund 455 -II Lake Pointe(Medtronic)
Redevelopment District il -=
12/1985-12/2025 TOTALS 1 -----
TIF Plan To End Actual Actual Actual Projected--->
Budget of District 1 2013 2014 2015 2016 2017 2018 2019
Fund Balance 0 (445,435) (447,886) (415,344) (385,927) (3= (3= (289,064)
Revenues: Inflation TIF#6tax petition reduced prior year taxes
Tax Increment(TI) 0.00% 98,950,000 16,335,974 419,487 650,497 622,176 622,740 624,297 624,297 624,297
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 75,400 709 1,037 5 1,099 1,099 1,099 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 55,405,811. 420,196 651,534 , 622,181 623,839 625,395 625,395 624,297
liiiimumExpenses -=--Mi '
Land/buildingacquisition 12,702,819 11,272,572
Site improvements/prep.cost, 12,253,725 1,799,015 -----=
Installation of public utilities 3,557,273 1 1,293,773 ------
Parking facilities 74,349,733 0 ------
Streets and sidewalks 4,961,294 0 -----
Public park facilities 0 -- ---
Other public improvements 803,750 Admin fees reduced to 5%to eliminate negative fund balance
Admin Fees-City/HRA(TI*% 9,900,000 1,291,574 65,445 35,693 34,789 31,137 31,215 31,215 31,215
Professional Services o ------
School Dist.referendum reimb 13,228 -- ---
Interest Expense** 0 -----
Transfers Out 361 ------
Debt Service-Bonds 48,000,000 25,018,900 --_---
Debt Service-Rev.Notes 13,982,776 357,202 583,299 557,975 560,466 561,867 561,867 561,867
Debt Service-Other I 0 -----=
Interfund loans o _---
Annual Expenses 165,724,844 422 ------
Other Expenses
55.476,372 422,647 618,992 592,764 591,603 593,082 593,082 593,082
Annual Increase/Decrease L- ;0) (2,451) 32,542 _29,417 32,236 32,313 31,215
Ending Fund Balance ,560) (447,886) (385,927 (353,691
) (321,378) (289,064) (257,849)
(0)■������
II 85.2% 89.7% 89.7% 90.0%
---i-d for A/P shown at year end ---
CASH Balance ---. 191,833 201,692 219,703 219,703 219,703 219,703 219,703
Interfund Loan Balance --• (325,303) (325,303) (325,303) (293,067) (260,754) (228,441) (197,226)
*Interest Eamin.s on Be. of Yr balance -II 0.2% 0.5% 0.0% 0.5% 0.5% 0.5% 0.0%
**Interest .ense on ne.ative fund balance -U Actual Actual Actual 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 7.9%. 15.6% 5.5% 5.6% 5.0% 5.0% 5.0% 5.0%
Administrative Fees-Cumulative- Estimated I 10.3% 10.0% 9.7% 9.4% 9.2% 9.0% 8.8%
add 200,000 bldg sq.ft to base I o --_-
Ori.inal Market Value Bldg 1 23-30-24-41-0030 U 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500
Ori.inal Tax Ca.-Cit Bid.2 23-30-24-41-0031 I 326,940 326,940 326,940 326,940 326,940 326,940 326,940
Total Market Value Land 23-30-24-41-0034 141,989,100 41,918,700 41,635,700 41,829,500 41,893,100 41,893,100 41,893,100
Estimated Tax Ca.aci, Land 23-30-24-42-0041 I 839,032 837,624 831,964 835,840 837,112 837,112 837,112
Day Care 23-30-24-42-0042 I------
Ca.tured Tax Ca.acit Land 23-30-24-42-0043 U 512,092 510,684 505,024 508,900 510,172 510,172 510,172
Calculated Tax Increment --I 662,956 646,982 621,711 622,740 624,297 624,297 624,297
Variance ---0 243,469 MOM 465 0 0 0 0
Tax Rate IN 1.29928 1.27147 1.2355 1.22812 1.22812 1.22812 1.22812
Tax Collection Rate ---U 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%
Inflation -U 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
--Old PINs I_-----
U ����
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 12
TIF DISTRICT#6 County#E8 S TIF DISTRICT#6
Lake Pointe(Medtronic) City Fund 455 �-Lake Pointe(Medtronic)
Redevelopment District -.-----
12/1985-12/2025 TOTALS 111
TIF Plan To End ,---- -
Budget of District I 2020 2021 2022 2023 2024 2025 2026
Fund Balance C 1 (257,849) (226,635) (195,420) (164,205) (132,990) (101,775) (70,560)
ii.=
Revenues: Inflation -----
Tax Increment(TI) 0 00% 98,950,000 16,335,974 , 624,297 624,297 624,297 624,297 624,297 624,297 0
Market Value Homestead Credit(MVHC) 0 I- ----
Bond Proceeds 22,829,451 (------
Loan Proceeds5,641,933 I ---
Other Revenues 46,335 I------
Investment Earnings* 9,900,000 75,400 I 0 0 0 0 0 0 0
Change in FMV of investments 0 1- ----
Sales/lease proceeds 10,000,000 5,600,000 I -�
Transfers In 4,876,718 -- -_-
Annual Revenues - 118,850,000 55,405,811 624,297 624,297 624,297 624,297 624,297 624,297 0
mmiiimmiiimis
Expenses ------
Land/building acquisition 12,702,819 11,272,572
Site improvements/prep.cost 12,253,725 1,799,015 I �
- ----
Installation of public utilities 3,557,273 1,293,773 I_Parking s facilitiesd74,349,73310 ;�=====
Streets and sidewalks 4,961,294 0
Public park facilities 0 (---_--
Other public improvements 803,750
Admin Fees-City/HRA(T1*% 9,900,000 1,291,574 31,215 31,215 31,215 31,215 31,215 31,215 0
Professional Services 0 -----
School Dist.referendum reimb 13,228I
------
Interest Expense** 0 -----_
Transfers Out 361 -----_
Debt Service-Bonds 48,000,000 25,018,900 ----
Debt Service-Rev.Notes 13,982,776 I 561,867 561,867 561,867 561,867 561,867 561,867 0
Debt Service-Other 0 I -----
Interfund loans 0 I�_----
Other Expenses 422 I ---
Annual Expenses 165,724,844 55,476,372 593,082 i 593,082 593,082 593,082 593,082 ' 593,082 0
Annual Increase/Decrease (46,874,84 '0,560)1 31,215 31,215 31,215 31,215 31,215 31,215 0
I
Ending Fund Balance ,R„560 • 226,635) (19K ) (164,205) (132,990) (101,775) (70.560) (70,560)
(0)1 ----
11
IIIIIIIIIIIIMIIIIIIIMIIIIIIMIIIMIMIIIIIIIIIIIIIIMIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIMIIIII
I
CASH Balance ---1 219,703 219,703 219,703 219,703 219,703 209,766
Interfund Loan Balance --• (166,011) (134,796) (103,581) (72,367) (41,152) 0
*Interest Eamin•.s on B-•of Yr balance -II 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
**Interest E •-nse on ne.ative fund balance -II 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 7.9%11 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
Administrative Fees-Cumulative- Estimated N 8.6% 8.4% 8.3% 8.1% 8.0% 7.9% 7.9%
add 200,000 bldg sq.ft.to base I _----
Ori•.inal Market Value Bf•1 23-30-24-41-0030 U 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500 16,384,500
Ori•inalTax Ca•acit Bid.223-30-24-41-0031 U 326,940 326,940 326,940 326,940 326,940 326,940
Total Market Value Land 23-30-24-41-0034 141,893,100 41,893,100 41,893,100 41,893,100 41,893,100 41,893,100
Estimated Tax Ca•aci, Land 23-30-24-42-0041 I 837,112 837,112 837,112 837,112 837,112 837,112
Day Care 23-30-24-42-0042 I------
Ca•tured Tax Ca.aci , Land 23-30-24-42-0043 I 510,172 510,172 510,172 510,172 510,172 510,172
Calculated Tax Increment --I 624,297 624,297 624,297 624,297 624,297 624,297
Variance ---U 0 0 0 0I
-_
Tax Rate ---II 1.22812 1.22812 1.22812 1.22812 1.22812 1.22812
Tax Collection Rate -- II 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%
Inflation ---I 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
I������
Old PINS IIII
------
U
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 13
TIF DISTRICT#9 County TI-T#9
Onan I Murphy-DEC:City Fund 458 Onan/Murphy-DECERTIFIED
Redevelopment District
09/1989-12/2015 TOTALS
TIF Plan To End Actual Actual Actual DECERTIFIED
Budget 2013 2014 2015 2016 2017
Fund Balance - 1,593,440 784,992 54,408 (0) (0)
Revenues: Inflation !-- FINAL YEAR
Tax Increment(TI) 0.00% 8,000,000 5,056,060 281,084 288,673 289,996 0 0
Market Value Homestead Credit(MVHC) 0
Bond Proceeds 0
Loan Proceeds -- 1,353
Other Revenues 5,108
Investment Earnings* 800,000 214,822 1,698 11,724 1,059 0 0
Change in FMV of investments 0
Sales/lease proceeds 0
Transfers In 1,353
Annual Revenues 8,800,000 5,278,696 282,782 300,397 291,055 0 0
Expenses
Land/building acquisition 5,026,000 1,694,094
Site improvements/prep.costs 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
Admin Fees-City/HRA(TI*% 800,000 509,541 29,190 30,981 30,722 0 0
Professional Services 0
School Dist.referendum reimb 0
Interest Expense** 0 0 0 0
Transfers Out 815,672 500,000 314,741
Debt Service-Bonds 16,092,000 . 0 Pool funds to TIF 18 Pool to#17
Debt Service-Rev.Notes - 685,181
Debt Service-Other 0
Interfund loans 0 Pool funds for TIF 21 expenses
Other Expenses 1,562,717 562,040 1,000,000
Annual Expenses 26,795,000 5,278,696 1,091,230 1,030,981 345,463 0 0
I
Annual Increase/Decrease (17.995.000) (0) (808,448) (730,584) (54.408) 0 0
Ending Fund Balance (0) 784,992 54,408 (0) (0) (0
0
monimmamam
CASH Balance 784,992 53,745 0
Interfund Loan Balance
*Interest Earnin.s on Be.of Yr balance 0.1% 1.5% - 2.0%
**Interest E .ense on ne.ative fund balance Actual Actual Actual
Administrative Fees-Annual 10.1% 10.4% 10.7% 10.6%
Administrative Fees-Cumulative Estimated 10.0% 10.0% 10.1%
Est.Ori•inal Market Value 2,380,500 2,380,500 2,380,500
Ori•.inalTax Ca•acit ® 42,909 42,909 42,909
Total Market Value 18,031,100 17,134,784 17,274,786
Estimated Tax Ca•acit 354,241 336,315 339,115
Ca.tured Tax Ca.acit 311,332 293,406 296,206
Calculated Tax Increment 303,250 285,789 288,516
Variance 22,166 2,884 1,480
Tax Rate 0.97756 0.97756 0.97756
Tax Collection Rate 99.64% 99.64% 99.64%
Inflation 0.00% 0.00% 0.00%
Certified Tax Rate / 0.97756
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 14
County
TIF DISTRICT#11 L6&L7 TIF DISTRICT#11 _
University I Osborne City Fund 462 University/Osborne
Redevelopment District (Special Legislation-TI Available for Northstar Station)
01/1992-1212018 TOTALS !
_- TIF Plan To End 1 Actual Actual Actual Projected---->
Budget of District 2013 2014 2015 2016 2017 2018 2019
Fund Balance 146,611 191,830 237,619 263,092 309,744 358,354 407,206
Revenues: Inflation -FINAL YR
Tax Increment(TI) 0.00% 1,500,000 1,080,837 50,814 49,869 47,753 50,369 52,285 52,285 0
Market Value Homestead Credit(MVHC) 0
Bond Proceeds 0
Loan Proceeds I 0
Other Revenues , 0
Investment Earnings* 150,000 60,577 (339) 2,033 2,030 1,320 1,553 1,796 0
Change in FMV of investments 0
Sales/lease proceeds 0
Transfers In 31,881
Annual Revenues 1,650,000 1,173,295 50,475 51,902 49,783 51,689 53,838 54,081 0
Expenses
Land/building acquisition 350,000 530,145
Site improvements/prep.costsi 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*% 150,000 133,402 5,256 6,113 6,823 5,037 5,228 5,228 0
Professional Services 0 -
School Dist.referendum reimb 0 -
Interest Expense** 0 0 0 0 0 0
Transfers Out 17,810 17,487
Debt Service-Bonds 1,260,000 0 Pool to#22
Debt Service-Rev.Notes 79,301
Debt Service-Other 4,643
Interfund loans _ 0
Other Expenses 787
Annual Expenses 2,200,000 766,088 5,256 6,113 24,310 5,037 5,228 5,228 0
Annual Increase I Decrease (550,000) 407,206 45,219 45,789 25,473 46,652 48,610 48,853 0
Ending Fund Balance 407,206 191,830 237,619 263,092 309,744 En 407,206 407.206
NENIIIIIIIIIIINIIIIiimem 0 =mMii
CASH Balance 191,830 237,586 264,036 310,688 359,298 408,151
Interfund Loan Balance 0 0 0 0
*Interest Earnin.s on Be. of Yr balance -0.2% 1.1% 0.9% 0.5% 0.5% 0.5% 0.0%
**Interest Ex.ense on ne•ative fund balance Actual Actual Actual 0.5% 0.5% 0.5%
Administrative Fees-Annual 12.3% 10.3% 12.3% 14.3% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative- Estimated 12.7% 12.6% 12.7% 12.6% 12.5% 12.3% 12.3%
Est.Ori.incl Market Value 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900 1,398,900
Ori•inal Tax Ca.acit 26,478 26,478 26,478 26,478 26,478 26,478
Total Market Value 11-30-24-22-0026 3,937,400 3,846,400 3,757,600 3,888,900 3,983,600 3,983,600
Estimated Tax Ca•acit 11-30-24-22-0027 77,248 75,428 73,652 76,278 78,172 78,172
11-30-24-22-0024
Ca•tured Tax Ca•acit 50,770 48,950 47,174 49,800 51,694 51,694
Calculated Tax Increment 51,350 49,509 47,713 50,369 52,285 52,285
Variance 536 360 40 0 0 0 0
Tax Rate 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%
Inflation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Certified Tax Rate L6- 1.01508
L7� 1.01508
OMMERCIAL I INDUSTRIAL MV updated MV updated MV updated MV updated MV updated
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
•
CITY OF FRIDLEY,MINNESOTA Page 15
County ---=
TIF DISTRICT#12 19&M1 TIF DISTRICT#12
McGlynn Bakeries City Fund 463 McGlynn Bakeries ---==
Redevelopment District (Special Legislation-TI Available for Northstar Station)
0311992-1212019 -- TOTALS -------
TIF Plan To End Actual Actual Projected > ---
Budget of District 2013 2014 2015 2016 2017 2018 2019 2020
Fund Balance 45,694 72,450 96,061 118,950 146,391 189,166 232,155 274,193
Revenues: Inflation --- -_FINAL YR
Tax Increment(TI) 0.00% 2,200,000 1,283,988 II 30,166 26,236 26,633 29,824 46,709 46,709 46,709 0
Market Value Homestead Credit(MVHC) 0 1-------
Bond Proceeds 0 (-------
Loan Proceeds 0 (-------
Other Revenues -_- 0al-------
Investment Earnings* 220,000 42,801 (344) 1,017 863 599 737 951 0 0
Change in FMV of investments 0 -------
Sales/lease proceeds 0 I�
32,112 IM =---
Transfers In
Annual ---
Revenues 2,420,000 1,358,902 29,822 ' 27,253 27,496 30,423 47,446 47,660 : 46,709 0
miiiiimiumwm•immil mlomumimwsmoimosiimmomilmax
Expenses ---
Land/building acquisition 1,550,000 287,511 ---_
Site improvements/prep.costs 380,000 213,533 = -==-
Installation on of publiccutilities 0
Parking facilities 0
Streets and sidewalks 0 I--- ==
Public park facilities 0 I--- ---
Other public improvements 0 I---
Admin ---
Fees-City/HRA(TI*%, 220,000 130,858 I 3,066 3,642 4,607 2,982 4,671 4,671 4,671 0
Professional Services 0 (-------
School Dist.referendum reimb 0 •------=
Interest Expense** 0 I---
Transfers Out _- 180 I -----
Debt Service-Bonds 2,895,000 0 III--
Debt Service-Rev.Notes 451,851 �-==-
Debt Service-Other 0
Interfund loans 0 IIOther Expenses 776 U--
Annual Expenses 5,045,000 1,084,709 , 3,066 3,642 4,607 2,982 4,671 4,671 4,671 0
I
I�
Annual Increase I Decrease (2,625,00(' 274,193 26,756 23,611 i 22,889 27,441 42,775 42,989 42,038 0
Ending Fund Balance 274,193 , 72,450 96,061 ' 118,950 I 146,391 189,166 232,155 274,193274,193
0 IIIII1=I
-_----
-- (-----
CASH Balance -- g 72,450 96,061 119,889 147,330 190,105 233,094 275,132
Interfund Loan Balance II 0 0 0 0 0 0 0
*Interest Eamin.s on Be.of Yr balance U -0.8% 1.4% 0.9% 0.5% 0.5% 0.5% 0.0% 0.0%
**Interest Ex.ense on n-.ative fund balance -0 Actual Actual Actual 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 10.2%. 10.2% 13.9% 17.3% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative- Estimated• 10.0% 10.0% 10.2% 10.2% 10.2% 10.2% 10.2%
---I ---
Est.Ori•inal Market Value 12,100,200 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200 2,100,200
Ori•inal Tax Ca.acit ---I 41,254 41,254 41,254 41,254 41,254 41,254 41,254
Total Market Value 10-30-24-14-00601 3,525,900 3,339,600 3,359,000 3,509,800 4,307,900 4,307,900 4,307,900
Estimated Tax Ca.acit 11-30-24-23-0026 U 69,768 66,042 66,430 69,446 85,408 85,408 85,408
Fiscal Disparities-_-I-----
Ca.tured Tax Ca•acit --U 28,514 24,788 25,176 28,192 44,154 44,154 44,154
Calculated Tax Increment --U 30,166 26,236 26,633 29,824 46,709 46,709 46,709
Variance ---II 0 0 0 0 0 0 0
Tax Rate --Av. Rate U 1.062 1.062 1.062 1.061695 1.061695 1.061695 1.061695
Tax Collection Rate ---II 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%
Inflation ---I 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
----I ---
Certified Tax Rate L9- 1.11211 U-------
M1- 1.02984 U- ----
Schedule Pa ent-Max Amount Owed -I ------
II
CO MERCIAL/INDUSTRIAL --I MV update.MV update.MV update.MV update.MV updated
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 16
I
-� -_
TIF DISTRICT#13 County N1 TIF DISTRICT#13
Satellite Lane Apts City Fund 464 I Satellite Lane Apts
Redevelopment District --I(Special Legislation-TI Available for Northstar Station)
0611995-1212023 -- TOTALS 1
TIF Plan To End !I Actual Actual Actual Projected--->
Budget of District :I 2013 2014 2015 2016 2017 2018 2019
Fund Balance -111 37,409 71,521 102,302 136,952 172,603 208,588 244,752
I
Revenues: MEM 1111='••y impact of limited MV starting 2012-
Tax Increment(TI) 0.00% 1,800,000 1,008,916 I 39,162 34,148 39,745 38,850 39,022 39,022 39,022
Market Value Homestead Credit(MVHC) 43,625 (-----
Bond Proceeds 0 I-
Loan Proceeds 432,109 ',I-----
Other Revenues 0 I-----
Investment Earnings* 180,000 60,891 I (344) 1,017 943 686 864 1,044 0
Change in FMV of investments 0 g-
Sales/lease proceeds 0 I-
Transfers In 431,070 I -_
Annual Revenues 1,980,000 1,976,610 • 38,818 35,165 40,688 39,536 39,887 40,067 39,022
Expenses / -II-
Land/building acquisition 2,500,000 981,698 IjI-Site improvements/prep.costs 525,000 4,781 I-
Installation of public utilities 0 I-
Parking facilities 25,000 0 I-
Streets and sidewalks 0 I- -_
Public park facilities 0 I-
Other public improvements 0 M-
Admin Fees-City/HRA(TI*%' 180,000 136,515 I• 4,706 4,384 6,038 3,885 3,902 3,902 3,902
Professional Services 0 '•-
School Dist.referendum reimb 0 I-
Interest Expense** 0 ',I-
Transfers Out 424 I-
Debt Service-Bonds 4,575,000 0 I-
Debt Service-Rev.Notes 0 I-�
Debt Service-Other 432,109 I-_-�
Interfund loans 0 '•- -
Other Expenses 730 I -
Annual Expenses * 7,805,000 1,556,257 , 4,706 4,384 6,038 3,885 3,902 3,902 3,902
Annual Increase/Decrease (5,825,000 420,353 i, 34,112 30,781 34,650 35,651 35,985 36,165 35,120
Ending Fund Balance 420 353 , 71,521 102,302 136,952 172,603 208,588 244,752 279,872
* ,..roximatel $4.0 million in costs -I --
of this TIF District were paid by TIF#1 -I-----
II
CASH Balance -II 71,521 101,021 137,227 172,878 208,863 245,027 280,147
Interfund Loan Balance -II 0 0 0 0 0 0 0
*Interest Earnin.s on Be. of Yr balance -I -0.9% 1.4% 0.9% 0.5% 0.5% 0.5% 0.0%
**Interest Ex.ense on ne.ative fund balance -I Actual Actual Actual 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 13.5%I 12.0% 12.8% 15.2% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative Estimated I 15.2% 15.1% 15.1% 14.8% 14.6% 14.4% 14.2%
I
Est.Ori•inal Market Value I 143,560 143,560 143,560 140,300 140,300 140,300 140,300
Ori•inal Tax Ca.aci I 1,438 1,438 1,438 1,403 1,403 1,403 1,403
Total Market Value -I 3,529,191 2,918,700 3,519,582 3,452,800 3,467,528 3,467,528 3,467,528
Estimated Tax Ca.acit -I 35,292 29,187 35,196 34,528 34,675 34,675 34,675
I
Ca.tured Tax Ca.acit -I 33,854 27,749 33,758 33,125 33,272 33,272 33,272
Calculated Tax Increment -II 39,705 32,545 39,592 38,850 39,022 39,022 39,022
Variance -U 543 1,603 153 0 0 0 0
I
Tax Rate -U 1.17706 1.17706 1.17706 1.17706 1.17706 1.17706 1.17706
Tax Collection Rate -I 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%
Inflation -I 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
II
Certified
Certified Tax Rate 1.17706 I111
111 --
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 17
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)
06/1995-1212023 TOTALS
TIF Plan To End
Budget of District 2020 2021 2022 2023 2024 , , ,
Fund Balance 279,872 314,993 350,113 385,233 420,353 420,353 420,353
I
Revenues: Inflation
Tax Increment(TI) 0.00% 1,800,000 1 1,008,916 39,022
Market Value Homestead Credit(MVHC) 43,625
Bond Proceeds 0
Loan Proceeds 432,109
Other Revenues 0
Investment Earnings* 180,000 60,891 ' 0 0 i 0 0 0 0
Change in FMV of investments 0
Sales/lease proceeds 0
Transfers In I 431,070
Annual Revenues 1 1,980,000 1,976,610 39,022 0
i
Expenses
Land/building acquisition 2,500,000 981,698
Site improvements/prep.costs 525,000 4,781
Installation of public utilities I 0
Parking facilities 1 25,000 0
Streets and sidewalks 0
Public park facilities 0
Other public improvements 0
Admin Fees-City/HRA(TI*%µ 180,000 136,515 3,902 3,902 •r r r r
Professional Services I 0
School Dist.referendum reimb 0
Interest Expense** 0
Transfers Out I 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 Expenses7,805,00090 •.2 3,902 .• 0
1
Annual Increase/Decrease (5;825,000) 420,353 35,120 35,120 I 35,120 35,120 0 0 J 0
Ending Fund Balance 420,353 314,993 350,113 385,233 420,353
.111042"53
0 i
*Approximately$4.0 million in costs
i
of this TIF District were paid by TIF#1
•
CASH Balance - 315,2680 350,3880 385,5080 420,6280
Interfund Loan Balance
*Interest Earnings(on Beg of Yr balance) 0.0% 0 I 0.0% 0 •',
**Interest Expense(on negative fund balance) 0
Administrative Fees-Annual 13.5% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative Estimated 14.0% 13.5% 13.5% 13.5%
Est.Original Market Value 140,300 140,300 140,300 140,300
Ori.inal Tax Ca.aci 1,403 1,403 1,403 1,403
Total Market Value 3,467,528 3,467,528 3,467,528 3,467,528
Estimated Tax Capacity 34,675 34,675 34,675 34,675
Captured Tax Capacity 33,272 33,272 33,272 33,272
Calculated Tax Increment 39,022 39,022 39,022 39,022
Variance 0 0 0 0
Tax Rate 1.17706 1.17706 1.17706 1.17706
Tax Collection Rate 99.64% 99.64% 99.64% 99.64%
Inflation 0.00% 0.00% 0.00% 0.00%
Certified Tax Rate 1.17706
I
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 18
TIF DISTRICT#16 County P8 TIF DISTRICT#16
57th Ave(Linn)-DECE City Fund 467 57th Ave(Linn)-DECERTIFIED
Redevelopment District
0911997-1212024 TOTALS
TIF Plan To End Actual Actual Actual DECERTIFIED
Budget of District, 2013 2014 2015 2016 2017 ' 2018
Fund Balance (48,954) (28,679) (9,746) (0) (0)' (0)
Revenues: Inflation i
Tax Increment(Ti) 0.00%1 1,000,000 338,521 ; 22,549 21,656 21,723
Market Value Homestead Credit(MVHC) 0
Bond Proceeds 0
Loan Proceeds 18,435
Other Revenues 0
Investment Earnings* ! 100,000 1,991 58 0 0
Change in FMV of investments 0
Sales/lease proceeds 50,000 'ayment owed
Transfers In 16,424 489
Annual Revenues 1,100,000 425,371 22,607 21,656 22,212 0 0 , 0
Expenses
Land/building acquisition 655,000 2,002
Site improvements/prep.costs 175,000 116,859
Installation of public utilities " 0
Parking facilities 50,000 0 I
Streets and sidewalks 0
Public park facilities 0 OSA reported Admin costs$23,634 thru 12-31-13
Other public improvements 0 Admin costs:$31,609 were paid with non-TIF Funds
Admin Fees-City/HRA(TI*% 100,000 70,775 2,332 2,723 12,466
Professional Services I 0 ,
School Dist.referendum reimb 0
Interest Expense** 0 �
Transfers Out I 16,066
Debt Service-Bonds I 1,320,000 0
Debt Service-Rev.Notes I 219,270
Debt Service-Other 0
Interfund loans 0
Other Expenses 400
Annual Expenses 2,300,000 425,372 2,332 2,723 12,466 0 0 0
,
Annual Increase l Decrease (1.200,000) (0) 20,275_ 18,933 9,746 0 0 0
Ending Fund Balance (0) (28,679) (9,746) (0) (0) (0)_ (0)
CASH Balance 10,081 10,999 9,746
Interfund Loan Balance ' (38,760) (20,760) 0
*Interest Earnings(on Beg of Yr balance) 1.2% 0.0% 0.0%
**Interest Expense(on negative fund balance) Actual Actual Actual
Administrative Fees-Annual 20.9% 10.3% 12.6% 57.4%
Administrative Fees-Cumulative Estimated , 18.8%r 18.4% 20.9%
1
Est.Original Market Value 426,300 426,300 426,300
Original Tax Capacity 7,301 7,301 7,301
Total Market Value 23-30-24-23-0144 1,412,500 1,351,900 1,362,300 ,
Estimated Tax Capacity 23-30-24-23-0145 26,750. 25,538 25,746 ,
Captured Tax Capacity( 19,449 18,237 18,445
Calculated Tax Increment 22,900 21,473 21,718
Variance 351 (183)_ (5),
Tax Rate 1.18168 1.18168 1.18168
Tax Collection Rate 99.64% 99.64% 99.64%
Inflation 0.00% 0.00% 0.00%
Certified Tax Rate 1.18168
COMMERCIAL 1 INDUSTRIAL MV updatec MV updatec MV updated
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 19
TIF DISTRICT#17 County R9 TIF DISTRICT#17 Mal
Gateway East City Fund 468 Gateway East
Redevelopment District --�--
2001-1212028 TOTALS ==
TIF Plan To End Actual Actual Actual Projected------>
Budget of District 2013 2014 2015 2016 2017 2018 2019 2020
Fund Balance - (673,559) (649,547) (629,738)
-_-
, --- (381,951) (351,649) (320,703) (289,757) (258,866)
Revenues: Inflation TI reduced by impact of limited MV starting 2012 -=
Tax Increment(TI) 0.00Y 2,000,000 808,068 26,663 23,106 27,523 30,249 30,892 30,892 30,892 30,892
Market Value Homestead Credit(MVHC) 42,977 -- .--
Bond Proceeds 0 -------
Loan Proceeds -I 0 ---
Other Revenues 26,092 ---
Investment Earnings* I 200,000 17,362 58 174 54 54 54 0 0
Change in FMV of investments 0 --- -=
Sales/lease proceeds 0 = from TIF#9
Transfers In -I 225,000 225,000
Annual Revenues 2,200,000 1,119,500 26,721 23,106 252,697 30,302 30,946 30,946 30,892 30,892
Expenses
Land/building acquisition 627,500 602,963 ------ =
Site improvements/prep.cost- 1,000,000 26,966 ---
Installation of public utilities665,000 264,63
P -=�-
Parrkingfacilities 0
1111.
Streets and sidewalks I 253,610 0
Public park facilities 0 ---
Other public improvements 0 ---No more admin fees in this TIF District
Admin Fees-City/HRA(TI*% 200,000 167,967 1,731 2,327 3,754
Professional Services 34,645 --
SchoolDist. serendum reimb 0 --- ==
Interest Expense** 0 ---
Transfers Out 56 ---
Debt Service-Bonds3,819,166 0 --- ==
Debt Service-RRev..Notes 0
Debt Service-Other 0 County County County
Interfund loans 0 Admin Admin Admin
Other Expenses3,104 978 970 1,156 ==
Annual Expenses j 6,565,276 1,100,339 2,709 3,297 4,910 0 0 0 0 0
-- --==
Annual Increase/Decrease (4,365,276) 19,161 24,012 19,809 I 247,787- 30,302 30,946 30,946 30,892 30,892
Ending Fund Balance 19.161 .-• (629,738) (381,951) (351,649) (320,703) (289,757
) (258,866) (227,974)
0
oiimnwnmtmmtwmmmsmioimimmommmomimimmomimmtmommimoomomniomwmmimmt
--- -
Net Present Value(To 0.00% 19,161 ME
CASH Balance --- 12,106 11,915 10,758 10,758 10,758 10,758 10,758 10,758
Interfund Loan Balance -- (661,653) (641,653) (391,653) (361,351) (330,405) (299,459) (268,568) (237,676)
*Interest Earnin•s on Be.of Yr balance 1.0% 0.0% 1.5% 0.5% 0.5% 0.5% 0.0% 0.0%
**Interest Ex.ense on ne.ative fund balance Actual Actual Actual 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 20.8% 6.5% 10.1% 13.6% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative- Estimated 45.4% 43.3% 41.3% 38.4% 35.9% 33.7% 31.7% 29.9%
Est.Ori.inal Market Value -- 346,800 346,800 336,480 336,480 336,480 336,480 336,480 336,480
Ori.inal Tax Ca.aci --- 3,468 3,468 3,365 3,365 3,365 3,365 3,365 3,365
Total Market Value EMV2= 3,042,460 2,681,300 3,118,382 3.404,900 3,470,153 3,470,153 3,470,153 3,470,153
Estimated Tax Ca.acit -- 30,425 26,813 31,184 34,049 34,702 34,702 34,702 34,702
Ca•tured Tax Ca.aci -_ 26,957 23,345 27,819 30,684 31,337 31,337 31,337 31,337
Calculated Tax Increment -- 26,574 23,014 27,424 30,249 30,892 30,892 30,892 30,892
Variance --- 89 92 99 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 0.98937 -_-_-_ -- -
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
•
CITY OF FRIDLEY,MINNESOTA Page 20
TIF DISTRICT#17 County R9 TIF DISTRICT#17
Gateway East City Fund 468 Gateway East
Redevelopment District
2001-1212028 TOTALS
TIF Plan To End
Budget of District 2021 2022 2023 2024 2025 2026 2027 2028
Fund Balance (227,974) (197,082) (166,190) (135,298) (104,407) (73,515) (42,623) (11,731)
I
Revenues: Inflation
Tax Increment(TI) 0.00% 2,000,000, 808,068 30,892 30,892 30,892 30,892 30,892 30,892 30,892 30,892
Market Value Homestead Credit(MVHC) 42,977
Bond Proceeds 0
Loan Proceeds 0
Other Revenues 26,092
Investment Earnings* 200,000 17,362 0 0 0 0 0 0 0 0
Change in FMV of investments 0
Sales/lease proceeds 0
Transfers In r 225,000
Annual Revenues 2,200,000. 1,119,500 30,892 30,892 30,892 30,892 30,892 30,892 30,892 30,892
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 I 0
Streets and sidewalks 253,610 0
Public park facilities ! 0
Other public improvements 0
Admin Fees-City/HRA(TI*%; 200,000 167,967
Professional Services 34,645
School Dist.referendum reimb 0
Interest Expense** 0
Transfers Out I 56
Debt Service-Bonds I 3,819,166 0
Debt Service-Rev.Notes 0
Debt Service-Other 0
_Interfund loans 0 1 __
Other Expenses 3,104
Annual Expenses r 6,565,276 1,100,339 0 0 0 0 0 0 0 0
Annual Increase/Decrease (4,365,276) 19.161 30,892 30,892 30,892 30,892 30,892 30,892 30,892 30,892
J
Ending Fund Balance 19,161 (197,082) (166,190) (135,298) (104,407) (73,515) (42,623) (11,731) 19,161
Net Present Value @ 0.00% 19,161
CASH Balance 10,758 10,758 10,758 10,758 10,758' 10,758 10,758 10,758
Interfund Loan Balance (206,784) (175,892) (145,000) (114,109) (83,217) (52,325) (21,433) 9,459
*Interest Earnings(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) 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 20.8% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative Estimated 28.4% 27.0% 25.7% 24.5% 23.5% 22.5% 21.6% 20.8%
Est.Original Market Value 336,480 336,480 336,480 336,480 336,480 336,480 336,480 336,480
Original Tax Capacity 3,365 3,365 3,365 3,365 3,365 3,365 3,365 3,365
Total Market Value 35 parcels 3,470,153 3,470,153 3,470,153 3,470,153 3,470,153 3,470,153 3,470,153 3,470,153
Estimated Tax Capacity 34,702 34,702 34,702 34,702 34,702 34,702 34,702 34,702
Captured Tax Capacity( 31,337 31,337 31,337 31,337 31,337 31,337 31,337 31,337
Calculated Tax Increment 30,892 30,892 30,892 30,892 30,892 30,892 30,892 30,892
Variance 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 0.98937
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY, MINNESOTA Page 21
TIF DISTRICT#18 County U4 -I TIF DISTRICT#18 ------
Gateway West City Fund 470 -�Gateway West
Redevelopment District --.--
2005-12/2033 -- TOTALS 11-----===
• TIF Plan To End , Actual Actual Actual Projected------->
I. - Budget of District I 2013 2014 2015 2016 2017 2018 2019 2020
Fund Balance ---,(1,228,090) (631,206) (539,342) (409,030) (388,081) (361,716) (335,351) (309,142)
ill I
Revenues: Inflation -I TI reduced by impact of limited MV starting 2012 ----
UTax Increment(TI) 0.00°] 2,000,000 537,510 2 9,220 8,171 13,868 20,792 26,208 26,208 26,208 26,208
El Market Value Homestead Credit(MVHC) 2,318 1-----�
•Bond Proceeds -'- 0 I--------
II Loan Proceeds = 0 1
•Other Revenues -', 358,316 ',1 ------
•Investment Earnings* 20,000 4,618 I, (228) 1,017 632 157 157 157 0 0
II Change in FMV of investments I 0 ','I lot sales 3 lots------
•Sales/lease proceeds , 530,369 1,1 90,980 87,318 28,600 all lots sold ----
• --' 852,648 500,000 Tfr from TIF#9 89,741 -----
Annual Revenues Pro>Budg- 2,0�,, 2,285,779 I, 599,972 96,506 132,841 20,949 26,365 26,365 26,208 26,208
Transfers In
� ��i.�
Expenses ,
El Land/building acquisition 1,800,000 1,994,522 I -===
MI Site improvements/prep.cost• 300,000 72,398 !I------ -
II Installation of public utilities 100,000 I I 0 •--------
•Parking facilities -''_I 0 'I--------
•Streets and sidewalks 100,000 0 1--------
•Public park facilities 0 I,---_--_-
U Other public improvements -', 0 :1 No more admin fees in this TIF District
•Admin Fees-City/HRA(TI*%1 100,000 158,605 '• 2,330 3,942 1,383 -----
•Professional Services 0 I--------
MISchool Dist.referendum reimb 0 I
.Interest Expense** 0 il--------
III Transfers Out -I='i (125)1-----_--
•Debt Service-Bonds 1,150,000 0 '1
in Debt Service-Rev.Notes -i 0 ,--------
Debt Service-Other 0 ',I County County County
•Interfund loans 0 a Admin Admin Admin--
•Other Expenses j 2,604 J 758 700 1,146 - =
Annual Expenses 3,550,000 2,228,003 j, 3,088 4,642 2,529 0 0 0 0 0
-._ _
- _ I - -
:nuai Increase/Decrease 530 000` I 596,884 -
130,312 20,949 26,365 26,365 26,208 26,208
Ending Fund Balance 57,776 1, (631,206) (539,342) (409,030) (388,081) (361,716)® (309,142) (282,934)
MI =
El
iiiminuomminsomminommisommimmuilimonimmimmilimmmilm
MI I
111
CASH Balance ---I 38,903 40,767 31,319 31,319 31,319 31,319 31,319 31,319
Interfund Loan Balance --II (670,109) (580,109) (440,109) (419,160) (392,795) (366,430) (340,222) (314,013)
*Interest Earnin•s on Be.of Yr balance U -0.5% 2.6% 1.6% 0.5% 0.5% 0.5% 0.0% 0.0%
**Interest Ex•ense on ne.ative fund balance-U Actual Actual Actual 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 29.5%I 25.3% 48.2% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
' Administrative Fees-Cumulative- Estimated U 312.0% 274.4% 222.8% 172.5% 134.2% 109.9% 93.0% 80.6%
• -_-I--------
Ori•inal Market Value ---II 835,500 835,500 574,480 574,480 574,480 574,480 574,480 574,480
Ori.inal Tax Ca.acit _- II 2,819 3,390 4,112 5,042 5,042 5,042 5,042 5,042
Total Market Value --20.arcels I 1,160,400 1,215,915 1,913,538 2,764,500 3,353,263 3,353,263 3,353,263 3,353,263
Estimated Tax Ca•aci --II 11,604 12,159 19,135 27,645 33,533 33,533 33,533 33,533
II I
Ca.tured Tax Ca.aci -I 8,785 8,769 15,023 22,603 28,491 28,491 28,491 28,491
Calculated Tax Increment --0 8,081 8,067 13,820 20,792 26,208 26,208 26,208 26,208
II Variance --_II 1,139 104 48 0 0 0 0 0
• I--------
Tax Rate ---U 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322
Tax Collection Rate ---I 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%
Inflation ---U 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
IN Certified Tax Rate - 0.92322 U--------
• ---I--------
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 22
---I
TIF DISTRICT#18 County U4 II TIF DISTRICT#18
Gateway West City Fund 470 I Gateway West
Redevelopment District 111
2005-12/2033 TOTALS
I TIF Plan To End
I Budget of District 2021 2022 2023 2024 2025 2026 2027 2028
Fund Balance -' (282,934) (256,726) (230,517) (204,309) (178,100) (151,892) (125,683) (99,475)
Revenues: Inflation
Tax Increment(TI) 0.00% 2,000,000 537,510 26,208 26,208 26,208 26,208 26,208 26,208 26,208 26,208
Market Value Homestead Credit(MVHC) 2,318
Bond Proceeds -, 0
Loan Proceeds -' 0
Other Revenues -' 358,316
Investment Earnings* 1
1 20,000 4,618 L 0 0 0 0 0 0 0 0
Change in FMV of investments 0 Mill=1111111
Sales/lease proceeds 530,369
Transfers In 852,648 er
Annual Revenues Prot Prot= 2,020,000 2,285,779 26,208 26,208 26,208 26,208 26,208 26,208 26,208 26,208
mosommommo
Expenses acquisition i 1,800,000
Land/building 1,994,522 -
Site improvements/prep.cost- 300,000 72,398
Installation of public utilities 100,000 0 ! -
Parking facilities 0 !Streets and sidewalks 100,000 0
Public park facilities 0
Other public improvements 0
Admin Fees-City/HRA(TI*% 100,000 158,605
Professional Services 0
School Dist.referendum reimb 0
Interest Expense** 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 2,604
Annual Expenses 3,550,000 2,228,003 0 0 0 0 0 0 0 0
Annual Increase 1 Decrease 1,5 57 776
26,208 26,208 26,208 ', 26,208 26,208 26,208 26,208 26,208
Ending Fund Balance11111151111 256,726 (204,309)
(230,517 (178,100) (151,892) (125,683) (99,475) (73,267)
I
---I-
- ---I
CASH Balance -II 31,319 31,319 31,319 31,319 31,319 31,319 31,319 31,319
Interfund Loan Balance --I (287,805) (261,596) (235,388) (209,179) (182,971) (156,763) (130,554) (104,346)
*Interest Earnip•s on B-• of Yr balance -I 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
**Interest Ex•ense on ne•ative fund balance, II 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 29.5%. 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative- Estimated I 71.1% 63.6% 57.6% 52.6% 48.4% 44.8% 41.7% 39.0%
I
Ori•inal Market Value ---I 574,480 574,480 574,480 574,480 574,480 574,480 574,480 574,480
Ori•inal Tax Ca•acit _--I 5,042 5,042 5,042 5,042 5,042 5,042 5,042 5,042
Total Market Value --20 •arcels II 3,353,263 3,353,263 3,353,263 3,353,263 3,353,263 3,353,263 3,353,263 3,353,263
Estimated Tax Ca•acit --I 33,533 33,533 33,533 33,533 33,533 33,533 33,533 33,533
---I
Ca•tured Tax Ca•aci --I 28,491 28,491 28,491 28,491 28,491 28,491 28,491 28,491
Calculated Tax Increment --I 26,208 26,208 26,208 26,208 26,208 26,208 26,208 26,208
Variance ---I 0 0 0
II
Tax Rate ---II 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322 0.92322
Tax Collection Rate --II99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%
InflationI 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
II
Certified Tax Rate _- 0.92322I
---I
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 23
TIF DISTRICT#19 County TIF TIF-T#19 -=-
5110 Main St NE(Ind City Fund 472 5110 Main St NE(Ind Eq) ---=
Redevelopment District -----
2007-12/2034 TOTALS ,- --==
TIF Plan To EndActual Actual Actual Projected----->
Budget of District C 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fund Balance .11= (3,395) (3,346) (3,749) (4,656) (4,451) (4,24 5) (4,037) (4,037) (4,037)
_ -�-�- If no further expenses are incurred
Revenues: Inflation TIF district should be decertified
Tax Increment(TI) 0.007 5,000,000 1,385,080 102,094 98,124 101,034 108,751 119,038 119,038 119,038 119,038 0
Market Value Homestead Credit(MVHC) 0 --after final revenue note payment.
Bond Proceeds _' 0 „----
Loan Proceeds 0 ',I ----
Other Revenues -', 0 ,- ----
Investment Earnings* 50,000 __ 5,796 175 0 60 205 206 207 0 0 0
Change in FMV of investments 0 ----
Sales/lease proceeds 0 _---
Transfers In
Annual Revenues I 5,050,000 '� 0 ----
- 1,390,876 102,269 98,124 101,094 108,956 119,244 119245 119,038 119,038 0
Expenses --_--
Land/building acquisition 600,000 0 --_=
Site improvements/prep.cost- 900,000 0
Installation of public utilities 0 �-
Parking facilities -' 550,000 0 TIF 19 Certification Date:9/25/2007
Streets and sidewalks 0 5 yr rule extended to 10 yrs for this TIF District -=
Public park facilities 0 I District could stay open beyond 2019 for eligible---
Other public improvements 0 , costs incurred or committed to by 9/25/2017 ---
Admin Fees-City/HRA(T1*% 500,000 149,832 10,569 10,635 11,361 10,875 11,904 11,904 11,904 11,904 0
Professional Services 0 I- ----
School Dist.referendum reimb 0 II
Interest Expense** 0 -_-=
Transfers Out 0 riMill ----
Debt Service-Bonds 2,500,000 0 ,- --- last rev note pmt
Debt Service-Rev.Notes 1,245,082 II• 91,651 87,892 90,640 97,876 107,134 107,134 107,134 107,134 0
Debt Service-Other O0 i,= .-===
Interfund loans
Other Expenses 0 , _ ---
Annual Expenses 5,050,000 1,394,914 1 102,220 98,527 102,001 108,751 119,038 119,038 119,038 119,038 0
I
Annual Increase 1 Decrease 0 (4,037) (403) (907) 205 206 207 0 0 0
Ending Fund Balance (4,037) 3,346) (3,749) (4,656) (4,451) (4,245) (4,037) (4,037) (4,037) (4,037
(0)1O
II
■�
CASH Balance ---. 42,035 39,918 41,043 41,248 41,454 41,662 41,662 41,662
Interfund Loan Balance --II 0 0 0 0 0 0 0 0
*Interest Eamin.s on Be.of Yr balance -I 0.0% 0.0% 0.0% 0.5% 0.5% 0.5% 0.0% 0.0%
**Interest Ex.ense on ne.ative fund balance -II Actual Actual Actual 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 10.8%U 10.4% 10.8% 11.2% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative- Estimated II 11.5% 11.4% 11.4% 11.2% 11.1% 11.0% 10.9% 10.8%
Ori.inal Market Value 5--U 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900 2,318,900
Ori•inal Tax Ca•acit ---II 45,628 45,628 45,628 45,628 45,628 45,628 45,628 45,628
Total Market Value 27-30-24-14-0006 U 8,333,200 7,960,700 8,179,200 8,628,100 9,224,900 9,224,900 9,224,900 9,224,900
Estimated Tax Ca•acit --II 165,914 158,464 162,834 171,812 183,748 183,748 183,748 183,748
II
Ca•tured Tax Ca•acit --I 120,286 112,836 117,206 126,184 138,120 138,120 138,120 138,120
Calculated Tax Increment --II 103,668 97,247 101,014 108,751 119,038 119,038 119,038 119,038
Variance ---I 1,574 877 20 0 0 0 0 0
Tax Rate _--II 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496 0.86496
Tax Collection Rate -- I 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%
Inflation -I 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
111
Certified Tax Rate S- 0.86496 U
===:= One building is 128,000 sf and the other is 74,880 sf
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 24
TIF DISTRICT#20 County W5) TIF DISTRICT#20 ----
BAE Site(Northern S City Fund - BAE Site(Northern Stacks) ----
Redevelopment District -- ----
2012-1212041 TOTALS ---- .
TIF Plan To End Actual Actual Actual Projected---->
Budget of District 2013 2014 2015 2016 2017 2018 2019 2020
Fund Balance 0 (32,220) (32,220) (48,410) (48,652) (48,895) (49,140) (49,385)
Revenues: Inflation IIIIMI----
Tax Increment(TI) 0.00% 48,500,000 24,900,913 0 399,601 743,554 854,847 995,779 995,779
Market Value Homestead Credit(MVHC) 0 ----
Bond Proceeds 0 ----
Loan Proceeds 0 ----
Other Revenues 0 ----
Investment Earnings* 485,000 (286) (286) 0 0 0 0 0
Change in FMV of investments 0 _ ----
Sales/lease proceeds 0
Transfers In 0 �
Annual Revenues ! 48,985,000 24,900,627 0 0 (286) 399,601 743,554 854,847 995,779 995,779
inilimi11111wmissiii. millimoimmi _.
Expenses
Land/building acquisition 500,000 0 -_
Site improvements/prep.costs 0
Installation of public utilities 15,275,000 0 ----
Parkingfacilities 0 -===
Streets and sidewalks 0 I,
Public park facilities 0 --- •
-
Other public improvements 1 0 ---
Admin Fees-City/HRA(TI*%' 4,850,000 2,532,615 32,220 10,304 39,960 74,355 85,485 99,578 99,578
Professional Services 0 -_-_
School Dist.referendum reimb 0 ----
Interest Expense** 6,703 0 242 243 244 246 247
Transfers Out 0 ----
Debt Service-Bonds I 0 ----
Debt Service-Rev.Notes 28,360,000 22,410,822 0 359,641 669,198 769,362 896,201 896,201
Debt Service-Other 0 County County County-
Interfund loans -_ 0 Admin Admin Admin----
Other Expenses 5,600 5,600 ----
Annual Expenses 48,985,000 ! 24,955,740 32,220 0 15,904 399,843 743,797 855,092 996,024 996,026
Annual Increase I Decrease 0 (55. (32,220) 0 (16,190) (242) 243) (244) (246) (247)
Ending Fund Balance (55,113) (32,220) (32,220) 48 410) (48,652) (48,895) (49 140) (49,385) (49,632)
0 ----
imoinniiimmoimmiimi = wiiimomminimmommunim
CASH Balance --- 1,565 780 0 0 0 0 0 0
Interfund Loan Balance -- (33,000) (33,000) (47,009) (47,251) (47,494) (47,739) (47,984) (48,231)
*Interest Earnin.s on Be.of Yr balance 0.5% 0.5% 0.5% 0.0% 0.0%
**Interest Expense on ne.ative fund balance 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 10.2% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative- Estimated 20.6% 13.7% 12.1% 11.4% 11.1%
Ori.inal Market Value 27-30-24-42-0003 0 0 0 13,861,700 13,861,700 13,861,700 13,861,700 13,861,700
Ori.inal Tax Ca.acit 27-30-24-42-0004 0 0 0 276,316 276,316 276,316 276,316 276,316
Total Market Value 27-30-24-42-0005 0 0 0 0 30,180,900 44,234,700 48,782,125 54,540,550 54,540,550
Estimated TaxCa.aci 27-30-24-43-0002 0 0 0 602,868 883,944 974,893 1,090,061 1,090,061
Ca.tured Tax Ca.aci -- 0 0 0 326,552 607,628 698,577 813,745 813,745
Calculated Tax Increment -- 0 0 0 399,601 743,554 854,847 995,779 995,779
Variance --- 0 0 0 0 0 0 0 0
Tax Rate --- 1.29928 1.27147 1.2355 1.22812 1.22812 1.22812 1.22812 1.22812
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 1.29928 ---
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY, MINNESOTA Page 25
--I
-- -=--
TIF DISTRICT#20A( County W5) -II TIF DISTRICT#20A(HSS)
RAE Site(HSS) City Fund --111 gAE Site(HSS) ===
Redevelopment District 1
2012-12/2039 -- TOTALSIN
TIF Plan To End ; Actual Actual Actual Projected--->
Budget of District 2013 2014 2015 2016 2017 2018 2019 2020
Fund Balance 0 (286,132) (545,066) (1,312,372) (2,402,880) (3,421,644) (3,256,453) (3,085,481)
--=-
Revenues: Inflation = assumes lower tax rate in future years
Tax Increment(TI) 0.00 8,350,000 6,376,831 350,173 339,697 338,117 330,375 316,609 316,609 316,609
Market Value Homestead Credit(MVHC) 0 ,
Bond Proceeds 0
Loan ===
Proceeds == 0
=
Other Revenues o ---=
Investment Earnings* 83,500 (4,325) (4,325) 0 0 0 0 0
Change in FMV of investments _0 1 ---_
Sales/lease proceeds 0 1 . =-
Transfers In 0
Annual Revenues 8,433,500 6,372,506 0 , 350,173 335,372 338,117 330,375 316,609 316,609 316,609
millionsiumm•iiiExpenses ==
Land/buildingacquisition 0 -Funds borrowed from HRA Gen'Fund
Site improvements/prep.cost 4,998,500 4,500,000 1 280,933 540,944 1,097,243 1,348,880 1,232,000
Installation of public utilities - 0 ----
Parking facilities 0 ---
Streets and sidewalks 0 ,, --_-
Public park facilities -I 0 --_-
Other public improvements 0 ----
Admin Fees-City/HRA(TI*% 835,000 ' 642,617 5,199 65,325 3,397 33,812 33,037 31,661 31,661 31,661
Professional Services 0 --_-
School Dist.referendum reimb 0 ----
Interest Expense** 2,600,000 1,225,013 45,933 84,101 119,758 113,976 107,992
Transfers Out _- 0 ----
Debt Service-Bonds -; 0 ----
Debt Service-Rev.Notes 0 ===-
Debt Service-Other 0 County County County
tloans 0
_ , Admin Admin Admin
O =-_�
Otherher Expenses 4 876 2,838 2,038
Annual Expenses ' 8,433,500 6,372,506 286,132
609,107 1,102,678 1,428,6251,3- 151,418 145,637 139,653
Annual Increase/Decrease 0 (0), (286,132) K:,! Y. 1•
08 1,018,764 165,191 170,972 176,956
Ending Fund Balance (0) (286_132) 545,066) (1,312,372) (2,402,880) (3,4 (3,256,453) (3,085,481) (2,908„.
(0)1 Decertify HSS when all expenditures have been made,
---I and enough tax increment is collected to bring Fund Balance to 0
Nommiminiminsimminomminouaiminamminn
_--I-All Available Tax Increment used to repay interfund loan from HRA Gen'I Fd
CASH Balance ■
=I
Interfund Loan Balance --. (284,933) (545,933) (1,312,773) (2,403,281) (3,422,045) (3,256,854) (3,085,882) (2,908,925)
*Interest Earnin•s on Be.of Yr balance I- 0.5% 0.5% 0.5% 0.0% 0.0%
**Interest E •ense on ne.ative fund balance -I- Actual Actual 3.5% 3.5% 3.5% 3.5% 3.5%
Administrative Fees-Annual 10.1%U 18.7% 1.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative- Estimated U- 20.1% 10.7% 10.5% 10.4% 10.3% 10.2% 10.2%
Ori.inal Market Value ---I 0 0 0 0 0 0 0 0
Ori•inal Tax Ca•aci __-I 0 0 0 0 0 0 0 0
Total Market Value _- 0 U 0 13,852,300 13,861,700 13,861,700 13,861,700 13,861,700 13,861,700 13,861,700
Estimated Tax Ca•aci --U 0 276,119 276,307 276,307 276,307 276 307 276,307 276,307
----I
Ca•turedTax Ca•aci --U 0 276,119 276,307 276,307 276,307 276,307 276,307 276,307
Calculated Tax Increment --I 0 349,813 340,148 338,117 330,375 316,609 316,609 316,609
Variance ---U 0 360 451 0 0 0 0 0
---I
Tax Rate ---I 129928 1.27147 1.2355 1.22812 1.20000 1.15 1.15 1.15
Tax Collection Rate ---I 99.64% 99.64%• • ', '.
,• . • * 99.64% 99.64% 99.64% 99.64%
Inflation ---U 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
I
Certified Tax Rate -- 1.29928 I- ----
-_-I
_---_I- -_ -_-
COMMERCIAL/INDUSTRIAL
I�
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler.Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 26
I I -
TIF DISTRICT#20A(t.County W5) TIF DISTRICT#20A(HSS) -_
BAE Site(HSS) City Fund I BAE Site(HSS)
Redevelopment District
2012-12/2039 TOTALS
TIF Plan To End
Budget of District 2021 2022 2023 2024 2025 2026 2027
Fund Balance (2,908,524) (2,725,374) (2,535,814) (2,339,619) (2,136,558) (1,926,389) (1,708,865)
•
Revenues: Inflation
Tax Increment(TI) 0.00% 8,350,000 6,376,831 316,609 316,609 316,609 316,609 316,609 316,609 316,609
Market Value Homestead Credit(MVHC) 0
Bond Proceeds 0 _
Loan Proceeds 0
Other Revenues 0
Investment Earnings* 83,500 (4,325) 0 0 0 0 0 0 0
1 .
Change in FMV of investments 0
Sales/lease proceeds 0
Transfers In 0
Annual Revenues 8,433,500 6,372,506 316,609 316,609 316,609 316,609 316,609 316,609 316,609
Expenses
_Land/building acquisition l 0
Site improvements/prep.cost 4,998,500 ( 4,500,000
Installation of public utilities 0
Parking facilities I 0
Streets and sidewalks 0
Public park facilities 0
Other public improvements 0
Admin Fees-City/HRA(T1*% 835,000 642,617 31,661 31,661 31,661 31,661 31,661 31,661 31,661
Professional Services 0
School Dist.referendum reimb 0
Interest Expense** 2,600,000 1,225,013 101,798 95,388 88,753 81,887 74,780 67,424 59,810
Transfers Out I 0
Debt Service-Bonds 0
Debt Service-Rev.Notes 0
Debt Service-Other 0
Interfund loans 0
Other Expenses 4,876
Annual Expenses 8,433,500 6,372,506 133,459 127,049 120,414 113,548 106,440 99,085 , 91,471
Annual Increase/Decrease 0 (0) 183,150 189,560 196,195 203,062 210,169 217,525 225,138
Ending Fund Balance (0 (2,725,374) (2,535,814) (2,339,619) (2,136,558) (1,926,389) (1,708,865) (1,483.727)
(0)
CASH Balance
Interfund Loan Balance (2,725,775) (2,536,215) (2,340,020) (2,136,959) (1,926,790) (1,709,266) (1,484,128)
*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) 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5%
Administrative Fees-Annual 10.1% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative Estimated 10.2% 10.2% 10.2% 10.1% 10.1% 10.1% 10.1%
Original Market Value 0 0 0 0 0 0 0
Original Tax Capacity 0 0 0 0 0 0 0
Total Market Value 0 13,861,700 13,861,700 13,861,700 13,861,700 13,861,700 13,861,700 13,861,700
Estimated Tax Capacity 276,307 276,307 276,307 276,307 276,307 276,307 276,307
Captured Tax Capacity 276,307 276,307 276,307 276,307 276,307 276,307 276,307
Calculated Tax Increment 316,609 316,609 316,609 316,609 316,609 316,609 316,609
Variance 0 0 0 0 0 0 0
Tax Rate 1.15 1.15 1.15 1.15 1.15 1.15 1.15
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 Rate1.29928
COMMERCIAL/INDUSTRIAL
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 27
TIF DISTRICT#21 County X2 II TIF DISTRICT#21
Gateway Northeast City Fund 474 'Gateway Northeast
Redevelopment District
2012-1212042 TOTALS I MI=
TIF Plan ' To End Actual Actual Actual Projected------>
Budget of District 2013 2014 2015 2016 2017 2018 2019 2020
Fund Balance (1,146,290) (4,130,712) (3,199,850) (3,198,327) (3,315,964) (3,295,293) (3,273,899) (3,103,777)
Revenues: Inflation
Tax Increment(TI) 0.00° 8,500,000 8,085,934 0 158,250 158,250 323,726 323,726
Market Value Homestead Credit(MVHC) _ 0 TI Deferred until 2017
IBond Proceeds 0
Loan Proceeds 0
Other Revenues 246 ' 246
•Investment Earnings* 85,000 9,949 'I (9,354) 8,776 1,523 949 949 949 0 0
Change in FMV of investments 0 _
I �
Sales/lease proceeds 1,000,000 0 ' From TIF •*_
Transfers In 1,000,0001,000,000
Annual Revenues 9,585,000 9,096,130 ' (9,108 1,008,776 1,523 949 159,199 159,199 j 323,726 323,726
i imi •NENniiiiiiiiim Tweell
Expenses $3M of pre 2010 costs from Gen'I Fd+$606K Vet Clinic
Land/building acquisition 4,235,000 4,086,072 2,938,173
Site improvements/prep:cost 500,000 i 4,548
Installation of public utilities ' 0
Parking facilities I 0
Streets and sidewalks 0
Public park facilities 0
IOther public improvements 0
Admin Fees-City/HRA(TI*% 850,000 923,648 37,141 77,914 0 0 15,825 15,825 32,373 32,373
Professional Services 0
•School Dist.referendum reimb 0
'Interest Expense** 4,000,000 1,457,281 118,586 122,703 121,980 121,231 115,277
Transfers Out 0
Debt Service-Bonds j 0
11 Debt Service-Rev.Notes 0 1----=-=-
•Debt Service-Other 0 1�_ �-
Interfund loans 0 ,
Other Expenses 0
Annual Expenses 9,585,000 6,471,550 ' 2,975,314 77,914 0 118,586 138,528 137,805 153,604 147,649
■ I� I
Annual Increase/Decrease 0 2,624,580 1(2,984,422) 930,862 1,523 (117,637) 20,671 21,394 170,123'11-
1 76,077
111 I
Ending Fund Balance 2,624,580 '(4,130.712) (3,199,850) 3,198,327 (3,315,964) (3,295,293) (3,273,899) i3,1 u3,777) (2 927,70
loan
loan 'l Fd - -
- 0 I-All Available Tax Increment used to repay interfund from HRA Gen'l Fd
CASH Balance 262,126 188,323 189,846 189,846 189,846 189,846 189,846 189,846
Interfund Loan Balance (4,388,173) (3,388,173) (3,388,173) (3,505,810) (3,293,623) (3,117,546)
*Interest Earnings(on Beg of Yr balance) -3.1% 3.3% 0.8% 0.5% 0.5% 0.5% 0.0% 0.0%
**Interest Expense(on negative fund balance) Actual Actual Actual 3.5% 3.5% 3.5% 3.5% 3.5%
Administrative Fees-Annual 11.4% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative Estimated 82.7% 46.4% 28.0% 21.9%
I TI Deferred until 2017 Phase I&II
Original Market Value 0 0 0 1,749,600 1,749,600 1,749,600
Original Tax Capacity 3,558 3,558 3,558 32,040 32,040 32,040 32,040
Total Market Value 12.arcels 0 0 011,153,800 20,153,800 20,153,800 '
Estimated Tax Ca.aci --I 3,558 3,558 3,558 139,627 139,627 252,127 252,127
Captured Tax Capacity 0 0 0 107,587 107,587 220,087 220,087
Calculated Tax Increment 0 0 0 158,250 158,250 323,726 323,726
'Variance 0 0 0 0 0 0 0
Tax Rate 1.52591 1.51875 1.3941 1.47622 1.47622 1.47622 1.47622 1.47622
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%
TI Deferred until 2017
Certified Tax Rate 1.52591
COMMERCIAL I INDUSTRIAL 1
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 28
TIF DISTRICT#21 County X2 -1 TIF DISTRICT#21 -- -
Gateway Northeast City Fund 474 -I Gateway Northeast
Redevelopment DistrictI ----�
2012-1212042 =IIMILT
TIF Plan To End
Budget of District 2021 2022 2023 2024 2025 2026 2027
Fund Balance (2,927,700) (2,745,460) (2,556,842) (2,361,622) (2,159,570) (1,950,445) (1,734,002)
Revenues: Inflation
Tax Increment(TI) 0.00° 8,500,000 8,085,934 323,726 323,726 323,726 323,726 323,726 323,726 323,726
Market Value Homestead Credit(MVHC) I 0
INBond Proceeds -1 0 I
.Loan Proceeds -1 0 I
.Other Revenues 246 I--- ---
IInvestment Earnings* 85,000 9,949 0 0 0 0 0 0 0
Change in FMV of investments 0
Sales/lease proceeds 1,000,000 ! 0
Transfers In 1,000,000
Annual Revenues 9,585,000 9,096,130 323,726 323,726 323,726 323,726 323,726 323,726
Expenses
s -�- �
Land/building acquisition 4,235,000 4,086,072 ,I iTiSite improvements/prep.cost- 500,000 4,548 ' M..
Installation of public utilities 0
Parking facilitiesI
0
Streets and sidewalks 0
Public park facilities 0
Other public improvements 0
Admin Fees-City/HRA(TI*% 850,000 923,648 32,373 32,373 32,373 32,373 32,373 32,373 32,373
Professional Services 0
School Dist.referendum reimbI
0
Interest Expense** 4,000,000 1,457,281 109,114 102,736 96,134 89,301 82,230 74,910 67,335
Transfers Out 0
Debt Service-Bonds 0
Debt Service-Rev.Notes 0
•Debt Service-Other 0 I _---
•Interfund loans _ 0 I _--
Other Expenses 0
Annual Expenses 9,585,000 6,471,550 ' 141,487 135,108 128,507 121,674 114,602 107,283 99,707
III
1
Annual Increase I Decrease 0 2,624,580 182,240 188,618 195,220 202,052 209,124 216,444 224,019
Ending Fund Balance ME 2,624,580 (2745460) 2,556.842) (2,361,622 (2,159,570) (1,950,445) (1,734,002) (1,509,982
1 01� IIIIIIIII
CASH Balance 189,846 189,846 189,846 189,846 189,846 189,846 189,846
Interfund Loan Balance (2,935,306) (2,746,688) (2,551,468) (2,349,416) (2,140,291) (1,923,848) (1,699,828)
*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) 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5%
Administrative Fees-Annual 11.4% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative Estimated 18.9% 17.1% 15.9% 15.1% 14.5% 14.0% 13.6%
Original Market Value 1,749,600 1,749,600 1,749,600 1,749,600 1,749,600 1,749,600 1,749,600
Original Tax Capacity 32,040 32,040 32,040 32,040 32,040 32,040 32,040
Total Market Value 12 parcels 20,153,800 20,153,800 20,153,800 20,153,800 20,153,800 20,153,800 20,153,800
Estimated Tax Capacity 252,127 252,127 252,127 252,127 252,127 252,127 252,127
Captured Tax Capacity 220,087 220,087 220,087 220,087 220,087 220,087 220,087.
Calculated Tax Increment 323,726 323,726 323,726 323,726 323,726 323,726 323,726
Variance 0 0 0 0 0 0 0
Tax Rate 1.47622 1.47622 1.47622 1.47622 1.47622 1.47622 1.47622
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 1.52591
COMMERCIAL/INDUSTRIAL 1
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
•
CITY OF FRIDLEY,MINNESOTA Page 29
------
TIF DISTRICT#22 County X5 TIF DISTRICT#22
Northstar City Fund - Northstar
Redevelopment District -, 111111
2013-1212042 TOTALS
TIF Plan To End Actual Actual Actual Projected----> -=
-�- Budget of District 2013 2014 2015 2016 2017 2018 2019 2020
_ Fund Balance 0 (3,841) (11,119) (315) (315) (315)
Revenues: Inflation 'Projected development not yet included
Tax Increment(TI) 0.00° 94,200,000 0 -- 0 0 0 0
Market Value Homestead Credit(MVHC) 0 TI Deferred until 2017
Bond Proceeds 0
Loan Proceeds 0
Other Revenues 0 -
Investment Earnings* 500,000 (108)1 (108) 0 0 0 0
Change in FMV of investments 0 a
Sales/lease proceeds 1,000,000 0
Transfers In 17,487 17,487 ==
Annual Revenues 95,700,000 17,379 0 0 17,379 0 0 0 0 0
nolommomminiim
Expenses _' -
Land/building acquisition 12,280,000 0 1--= -
Site improvements/prep.cost- 10,000,000 0 1
Installation of public utilities 1,000,000 _ 0
Parking facilities - 20,000,000 0 ==
Streetsublicand sidewalkslities0
Public park facilities 0
Other public improvements
0
Admin Fees-City/HRA(TI*% 9,420,000 17,694 3,841 7,278 6,575 0 0 0 0 0
Professional Services ' 0 ---
School Dist.referendum reimb 0 '
Interest Expense** 43,000,000 00 -=
Transfers Out -, -
Debt Service-Bonds 0
Debt Service-Rev.thNotes 0
Debt Service-Other 0
Interfund loans 0
Other
-=
Other Expenses 0
Annual Expenses - 95,700,000 17,694 3,841 7,278 6,575 0 0 0 0 0
MI
Annual Increase/Decrease 0 (315 1 (3,841) (7,278) 10,804 0 0 0 0 0
Ending Fund Balance 841,
3
( ) 11,119) (315) (315) (315) (315 (315)
p.
---I
immimmilioniiimmumminimmumin fir_ --
II
-_--I
CASH Balance ---. 224 881 0 1 0 0 0 0
Interfund Loan Balance _-• (4,000) (12,000) (108) (108) (108) (108) 108
( ) (108)
*Interest Earnin•s on Be.of Yr balance -I--- 0.5% 0.5% 0.5% 0.0% 0.0%
**Interest Ex.ense on ne.ative fund balance -I 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual #DIV/0! 1 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative- Estimated I
11
Ori.inal Market Value I 0 0 0 0 0 0
Ori.inal Tax Ca.acit ---U 0 0 0 0 0 0
Total Market Value -- 0 1 0 0 0 0 0 0
Estimated Tax Ca.aci -I 0 0 0 0 0 0
-__-=I 0 0 0 --
Ca.tured Tax Ca.acit
Calculated Tax Increment --U-- 0 0 0 0 0 0
Variance ---II 0 0 0 0 0 0
III
Tax Rate ---11 1.29928 1.27147 1.2355 1.22812 1.22812 1.22812 1.22812 1.22812
Tax Collection Rate ---I 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64% 99.64%
Inflation ---1 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
II
Certified Tax Rate -- 1.29928 1--�- ==
COMMERCIAL/INDUSTRIAL II
11111
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 30
II
Housing Replacement County 04,05,06,Q2,Q3,44,53,84,S5,S6,77Housing Replacement
Program City Fund 501 Program _.
Housing District
711811996-12/2022 TOTALS i
(15 year max TI per parcel) TIF Plan Through Actual Actual Actual Projected-->
(100 maximum#of parcels) Budget 2025 I 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Fund Balance 172,257 144,138 56,816 153,881 181,976 208,641 229,310 250,082 270,958 291,938
s removed from 2013 TI;Ph 2 parcels removed from 2014 TI
Revenues: Inflation by impact of limited MV starting 2012
Tax Increment(TI) 0.00% 438,421 596,509 17,002 22,510 35,058 30,344 28,599 21,789 21,789 21,789 21,789 20,143
Market Value Homestead Credit(MVHC) 23,299
Bond Proceeds 0
Loan Proceeds 724,445
Other Revenues 768,750 5,008 _
Investment Earnings* 92,229 7,616 1,777 785 926 1,059 1,162 1,266 1,371 1,476
Change in FMV of investments 0
Sales/lease proceeds 963,823 143,843 64,360 84,841 •
Transfers In 2,123,130 860,455
Annual Revenues 3,330,301 3,265,768 161,644 94,486 121,676 31,129 29,525 22,848 22,951 23,055 23,159 21,619
Proj TI>Budget
Expenses
Land/building acquisition 2,250,000 1,569,313 164,077 162,910
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(T1*%' 125,000 424,325 25,686 18,898 24,611 3,034 2,860 2,179 2,179 2,179 2,179 2,014
Professional Services 0
School Dist.referendum reimb 0
Interest Expense** 0 0 0 0 0 0 0 0 0
Transfers Out 724,805
Debt Service-Bonds 0
Debt Service-Rev.Notes I 0
Debt Service-Other 0 _
Interfund loans 0
Other Expenses 3,006 _
Annual Expenses 3,075,000 2,894,821 i 189,763 181,808 24,611 3,034 2,860 2,179 2,179 2,179 2,179 l 2,014
MEI
Annual Increase/Decrease 255,301 370,947 97,065 28,095 26,665 20,669 20,772 20,876 20,980 19,605
Ending Fund Balance 370,947 144,138 56,816 208,641 229,310 250,082 270,958 291,938 311,543
r
1111111111,1111M.111 _
1,121
CASH Balance 745,373 57,134 157,052 185,147 211,812 232,481 253,253 274,129 295,109 314,714
Interfund Loan Balance (600,000) 0 0 0 0 0 0 0 0 0
*Interest Earnings(on Beg of Yr balance) -0.0% 1.0% 3.1% 0.5% 0.5% 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% 0.5% 0.5%
Administrative Fees-Annual71.1% 151.1% 84.0% 70.2% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative Estimated 114.7% 112.6% 108.6% 101.1% 95.0% 90.9% 87.2% 83.8% 80.7% 78.0%
Est.Original Market Value 397,300 819,400 896,800 830,800 807,200 693,300 693,300 693,300 693,300 654,900
Original Tax Capacity 3,973 8,194 8,968 8,308 8,072 6,933 6,933 6,933 6,933 6,549
Total Market Value 1,821,055 2,822,100 3,995,100 3,512,500 3,334,700 2,618,900 2,618,900 2,618,900 2,618,900 2,435,100
Estimated Tax Capacity 18,211 28,221 39,951 35,125 33,347 26,189 26,189 26,189 26,189 24,351
Captured Tax Capacity 14,238 20,027 30,983 26,817 25,275 19,256 19,256 19,256 19,256 17,802
Calculated Tax Increment 17,002 22,510 35,058 30,344 28,599 21,789 21,789 21,789 21,789 20,143
Variance 0 0 0
Tax Rate intral11111 1.19848 1.12804 1.13561 1.13561 1.13561 1.13561 1.13561 1.13561 1.13561 1.135612
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% 0.00% 0.00% 0.00%
Certified Tax Rate 04 1.17662
05 1.13880
06 1.25065
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 31
Housing Replacement County 04,05,06,02,Q3,Q4,S3,s4,S5,s6,77Housing Replacement
Program City Fund 501 Program P
Housing District
711811996-12/2022 TOTALS
1(15 year max Tl per parcel) ' TIF Plan Through _
(100 maximum#of parcels) Budget 2025 2023 2024 2025 2026 2027 2028 2029 2030
Fund Balance 311,543 331,245 351,047 370,947 390,946 411,046 423,681 430,460
Revenues: Inflation
Tax Increment(TI) 0.00% 438,421 596,509 20,143 20,143 20,143 20,143 20,143 11,737 5,161 0
Market Value Homestead Credit(MVHC) 23,299
Bond Proceeds 0
Loan Proceeds 724,445
Other Revenues 768,750 5,008 ' '
Investment Earnings* 92,229 1,574 1,672 1,771 1,871 1,971 ' 2,071 2,134 2,168
Change in FMV of investments 0
Sales/lease proceeds 963,823
Transfers In I 2,123,130 860,455
Annual Revenues 3,330,301 3,265,768 21,717 21,815 21,914 22,014 22,114 13,808 7,295 2,168
Proj Tl>Budget
Expenses
Land/building acquisition 2,250,000 1,569,313
Site improvements/prep.cost 575,000 173,373
Installation of public utilities 125,000 0
Parking facilities I 0
Streets and sidewalks 0
Public park facilities 0 1
Other public improvements 0
Admin Fees-City/HRA(T1*%; 125,000 424,325 2,014 2,014 2,014 2,014 2,014 1,174 516 0
Professional Services 0
School Dist.referendum reimb 0
Interest Expense** 0 0 0 0 0 0 ' 0 0 0
Transfers Out . I 724,805
Debt Service-Bonds 0 -
Debt Service-Rev.Notes 0
Debt Service-Other 0
Interfund loans 0
Other Expenses 3,006 I --
Annual Expenses 3,075,000 2,894,821 2,014 2,014 2,014 2,014 2,014 1,174 516 0
Annual Increase/Decrease 255,301 370,947 19,703 19,801 i 19,900
20,000 20,100 12,635 6,779 2,1681
Ending Fund Balance 1 370,947 331,245 351,047 370,947 390,946 411,046 ' 423,681 430A60 432,628
0
1,121
CASH Balance 334,417 354,218 374,118 394,118 414,217 426,852 433,631
Interfund Loan Balance 0
*Interest Earnings(on Beg of Yr balance) 0.5% 0.5% 0.5% 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 71.1% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Administrative Fees-Cumulative Estimated 75.6% 73.3% 71.1% 69.1% 67.3% 66.2% 65.8% 65.8%
Est.Original Market Value 654,900 654,900 654,900 654,900 654,900 546,100 114,000 0
Original Tax Capacity 6,549 6,549 6,549 6,549 6,549 5,461 1,140 0
Total Market Value 2,435,100 2,435,100 2,435,100 2,435,100 2,435,100 1,583,400 570,100 0
Estimated Tax Capacity 24,351 24,351 24,351 24,351 24,351 15,834 5,701 0
Captured Tax Capacity 17,802 17,802 17,802 17,802 17,802 10,373 4,561 0
Calculated Tax Increment 20,143 20,143 20,143 20,143 20,143 11,737 5,161 0
Variance
Tax Rate Average 1.135612 1.135612 1.135612 1.135612 1.135612 1.135612 1.135612 1.135612
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 04 1.17662 -
05 1.13880
06 1.25065
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 32
HRA HRA
Revolving Loan Fund City Fund 265 Revolving Loan Fund
(Special Revenue Fundj
TOTALS 4-
Through
Through Actual Actual Actual Projected----->
2025 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fund Balance 3,909,535 3,927,963 2,959,113 3,013,847 3,060,938 3,108,263 3,155,826 3,203,626 3,251,665
Revenues: Inflation
Tax Levy 0.00% 1,880,242
Market Value Homestead Cres 0
Property taxes 0 •
Rental 34,558
Mortgage interest earnings 1,473,378 40,214 37,154 37,748 37,748 37,748 37,748 37,748 37,748 37,748
Investment Earnings* 1,190,223 (2,283) 34,014 18,606 10,962 11,198 11,434 11,672 11,911 12,151
Miscellaneous IH&G show 693,640 i 38,971 23,404 21,631 21,631 21,631 21,631 21,631 21,631 21,631
Sales/lease proceeds _ 63,591
Transfers In 6,591,712
Annual Revenues 11,927,345 76,902 94,572 77,985 70,341 70,577 70,813 71,051 j 71,290 71,530
Expenses --
_Capital outlay 353,823
Site improvements/prep.cost: 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
Personal services 276,305 estimate estimate estimate estimate estimate estimate
Supplies&other charges 1,529,029 58,474 63,422 23,251 23,251 23,251 23,251 23,251 23,251 23,251
Interest Expense**n City Loan 407,189
Transfers Out 5,783,319 1,000,000
Principal Payment 0 Tfr to HRA Gen.!Fund
Interest Expense 0
Debt Service-City Loan 621,734
_Interfund loans
_Other Expenses (539,542
Annual Expenses 8,431,857 58,474 1,063,422 23,251 23,251 23,251 23,251 23,251 23,251 23,251
Annual Increase l Decrease 3,495,488 18,428 (968,8501 54.734 47,090 47,326 47,562 47,800 48,039 48,279
Ending Fund Balan * 3,495,488 3,927,963 2,959,113 3,013,847 3,060,938 3,108.263 3,155,826 3,203,626 3,251,665 3,299,944
0
*If all funds are not u/red,they could _
be returned to HRA General Fund
CASH Balance 3,030,413 2,026,739 2,192,462 2,239,552 2,286,878 2,334,440 2,382,241 2,430,280 2,478,559
Interfund Loan Balance
*Interest Earnings(on Beg of Yr balance) -0.1% 1.1% 0.9% 0.5% 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% 0.5%
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
•
CITY OF FRIDLEY,MINNESOTA Page 33
HRA HRA
General Fund City Fund 100 II General Fund
III i
---=
' TOTALS -
Through I Actual Actual Actual Projected----->
• 2025 i' 2013 2014 2015 2016 2017 2018 2019 2020
Fund Balance 8,374,903 11,410,921 9,982,060 9,462,074 9,795,248 10,230,697 10,707,785 11,207,520
Revenues: Inflation I
Tax Increment(TI)I 0.00% 0
Market Value Homestead Cr- 0
Bond Proceeds 0
Loan Proceeds 0
Other Revenues 26,061,175 1 482,499 514,366 458,785 706,439 812,362 856,367 875,249 858,639
Investment Earnings* I 4,374,290 4,916 33,433 46,021 25,320 21,361 18,995 22,760 27,404
Change in FMV of investment! 0 .dj 2013/pct adjusted In 2012
Sales/lease procee Medtroni 2,896,307 43,914 129,609 123,983 124,548 124,859 124,859 124,859 124,859
Transfers In 13,397,646 creases to 22.22 1,000,000 from RLF
Annual Revenues 46,729,418 531,329 1,677,408 628,789 856,307 958,582 1,000,221 1,022,868 1,010,903
Expenses TIF 21 costs Columbia Arena purch&demo
Land/building acquisition 3,963,111 (2,938,173) 2,627,917 572,500
Site improvements/prep.cost-' 0 .
Installation of public utilities 0
Parking facilities I 0
Streets and sidewalks 0
Public park facilities 0
Other public improvements 0
Admin Fees I 0
Professional Services 0
School Dist.referendum reim, 0
Interest Expense** 52,653 52,653
Transfers Out ( 4,774,525 489 0 0 0 0 0
Debt Service-Bonds 0 0 0 0 0 0
Debt Service-Rev.Notes I 0
Debt Service-City Loan 1 0
Interfund loans 0
Other Expenses 21,290,192 433,484 478,352 523,133 523,133 523,133 523,133 523,133 523,133
Annual Expenses 30,080,481 (2,504,689) 3,106,269 1,148,775 523,133 523,133 523,133 523,133 523,133
_' I
Annual Increase 1 Decrease 116,648,937 3,036,018 (1,428,861) (519,986) 333,174 435,449 477,088 499,735 487,770
Ending Fund Balance 16,648,937 11,410,921 9,982,060 9,462,074 9,795,248 10,230,697 10,707,785 11,207,520 11,695,290
0
Debt Service Reserve(next yrs Bonds) II 0 0 0 0 0 0 0 0
Ending Fund Balance After Debt Service 11,410,921 9,982,060 9,462,074 9,795,248 10,230,697 10,707,785 11,207,520 11,695,290
CASH Balance 4,441,177 5,903,368 5,063,906 4,272,180 3,798,916 4,551,968 5,480,868 6,409,740
Interfund Loan Balance 7,005,931 5,546,931 5,905,128 7,030,028 7,938,740 7,662,776 7,233,612 6,792,510
*Interest Earnings(on Beg of Yr balance) 0.1% 0.8% 0.8% 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%
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 34
•
TIF Districts&HRA General Fund TIF Districts&HRA General Fund
Fund Balance Summary Fund Balance Summary
I
TOTALS
To End Actual Actual Actual Projected >
of District 2013 2014 2015 2016 2017 2018 2019 2020
Fund Balance 0 10,780,733 10,390,246 8,102,205 7,407,808 6,801,216 6,529,519 7,479,016 8,553,646
Revenues: Inflation I
Tax Increment(TI) 0.00% 110,370,584 998,241 1,573,163 1,565,206 1,669,637_ 2,199,229 2,289,946 2,544,070 2,497,361
Market Value Homestead Cre' 240,508 0 0 0 0 0 0 0 0
Bond Proceeds I 33,948,853 0 0 0 0 0 0 0 0
Loan Proceeds 11,704,913 0 0 0 0 0 0 0 0
Other Revenues 28,941,099 523,780 551,520 496,533 744,187 850,110 894,115 912,997 896,387
Investment Earnings* 7,551,277 (5,300) 101,684 68,974 42,136 39,103 37,745 35,594 40,582
Misc rev/Chg in FMV of inve- 1,061,367 38,971 23,404 21,631 21,631 21,631 21,631 21,631 21,631
Sales/lease procee Medtronic 10,104,090 278,737 281,287 237,424 124,548 124,859 124,859 124,859 124,859
Transfers In 41,309,566 500,000 2,000,000 332,717 0 0 0 0 0
Annual Revenues 245,232,258 2,334,429 4,531,058 2,722,485 2,602,139 3,234,932 3,368,296 3,639,152 3,580,820
Expenses
Land/building acquisition 40,652,409 164,077 2,790,827 572,500 0 0 0 0 0
Site improvements/prep.cos 8,797,499 280,933 540,944 1,097,243 1,348,880 1,232,000 0 0 0
Installation of public utilities 1,560,472 0 0 0 0 0 0 0 0
Parking facilities I 290,065 0 0 0 0 0 0 0 0
Streets and sidewalks 4,050 0 0 0 0 0 0 0 0
Public park facilities 0 0 0 0 0 0 0 0 0
Other public improvements 803,750 0 0 0 0 0 0 0 0
Admin Fees-City/HRA(TI*%) 8,287,504 228,712 269,855 156,830 130,723 182,998 192,070 217,482 212,811
Professional Services 386,034 0 0 0 0 0 0 0 0
Supplies&other charges 3,874,036 58,474 63,422 23,251 23,251 23,251 23,251 23,251 23,251
Interest Expense** 3,148,839 0 0 52,653 164,761 207,047 241,982 235,453 223,516
Transfers Out 14,084,612 500,000 1,000,000 332,717 0 0 0 0 0
Debt Service-Bonds 53,095,030 0 0 0 0 0 0 0 0
Debt Service-Rev.Notes 39,632,675 448,853 671,191 648,615 1,017,983 1,338,200 1,438,364 1,565,202 1,565,202
Debt Service-Other 5,910,567 0 0 0 0 0 0 0 0
Interfund loans 8,122,981 0 0 0 0 0 0 0 0
Other Expenses 31,455,447 1,043,867 1,482,860 533,073 523,133 523,133 523,133 523,133 523,133
Annual Expenses 220,105,972 2,724,916 6.819,099 3,416,882 3,208,731 3,506,629 2,418,800 2,564,521 2,547,913
Annual Increase/Decrease 25,126,286 (390,487) (2,288,041) (694,397) (606,592) (271,697) 949,497 1,074,630 1,032,907
Ending Fund Balance 25,126,286 10,390,246 8,102,205 7,407,808 6,801,216 6,529,519 7,479.016 8,553,646 9,586,553
0
Debt Service Reserve(next yrs Bonds) 0 0 01 0 0, 0 0, 0
Ending Fund Balance After Debt Service 10,390,246 8,102,205 7,407,808 6,801,216 6,529,519 7,479,016 8,553,646 9,586,553
I
CASH Balance 9,896,629 8,970,929 8,436,987 7,820,649 7,548,952 8,498,449 9,164,928 9,922,704
Interfund Loan Balance (7,005,931) (5,546,931) (5,905,128) (7,030,028) (7,938,740) (7,662,776) (7,233,612) (6,792,510)
*Interest Earnings(on Beg of Yr balance) -0.1% 1.0% 0.8% 0.5% 0.5% 0.5% 0.4% 0.4%
**Interest Expense(on negative fund balance) Actual Actual Actual 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 7.5% 22.9% 17.2% 10.0% 7.8% 8.3% 8.4% 8.5% 8.5%
Administrative Fees-Cumulativ- Estimated 5.9% 6.2% 6.3% 6.3% 6.4% 6.4% 6.5% 6.6%
Est.Original Market Value 26,732,460 27,154,560 26,960,620 37,946,260 39,672,260 39,558,360 38,159,460 36,059,260
Original Tax Capacity 502,208 510,558 511,951 738,292 766,538 765,399 738,921 697,667
Total Market Value 86,782,306 99,042,399 101,976,888 115,033,600 142,285,344 146,116,969 156,891,794 152,583,894
Estimated Tax Capacity 1,628,484 1,875,468 1,905,072 2,167,456 2,620,574 2,704,364 2,853,861 2,768,453
0 0 0 0 0 0 0 0
Captured Tax Capacity 1,126,276 1,364,910 1,393,121 1,429,164 1,854,036 1,938,965 2,114,940 2,070,786
Calculated Tax Increment 1,265,652 1,563,184 1,563,347 1,669,637 2,199,229 2,289,946 2,544,070 2,497,361
Variance 267,411 (9,979) (1,859) 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%
I ,
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
CITY OF FRIDLEY,MINNESOTA Page 35
I
TIF Districts&HRA General Fund I TIF Districts&HRA General Fund
Fund Balance Summary 'Fund Balance Summa
I
-1 TOTALS
- To End
' of District 2021 2022 2023 2024 2025 2026 2027 2028
Fund Balance ', 0 9,586,553 10,612,545 11,641,843 12,676,112 13,676,353 14,681,593 15,500,822 16,324,145
Revenues: Inflation
Tax Increment(TI) 0.00% 110,370,584 2,378,323 2,376,677 2,376,677 2,337,655 2,337,655 1,713,358 1,713,358 1,704,952
Market Value Homestead 240,508 j 0 0 0 0 0 0 0 0
Bond
Proceeds '� 0 0 0 0 0 0 0 0
Loan Proceeds 11,704,913 0 0 0 0 0 0 0 0
Other Revenues 28,941,099 872,127 859,174 845,938 828,336 814,157 764,470 749,281 732,720
Investment Earnings* 7,551,277 45,571 50,525 55,496 60,492 65,493 70,569 74,665 78,782
Misc rev/Chg in FMV of inve-, 1,061,367 21,631 21,631 21,631 21,631 21,631 21,631 21,631 21,631
Sales/lease proce-Medtronic 10,104,090 124,859 124,859 124,859 124,859 124,859 0 0 0
Transfers In 41,309,566 0 0 0 0 0 0 0 0
Annual Revenues 245,232,258 3,442,511 3,432,867 3,424,602 3,372,973 3,363,795 2,570,027 2,558,935 2.538,084
Expenses
Land/building acquisition 40,652,409 0 0 0 0 0 0 0 0
Site improvements/prep.costs 8,797,499 0 0 0 0 0 0 0 0
Installation of public utilities 1,560,472 0 0 0 0 0 0 0 0
Parking facilities 290,065 0 0 0 0 0 0 0 0
Streets and sidewalks 4,050 I 0 0 0 0 0 0 0 0
Public park facilities 0 0 0 0 0 0 0 0 0
Other public improvements 803,750 0 0 0 0 0 0 0 0
Admin Fees-City/HRA(TI*%) 8,287,504 200,907 200,743 200,743 196,841 196,841 165,626 165,626 164,785
Professional Services 386,034 jj 0 0 0 0 0 0 0 0
Supplies&other charges 3,874,036 23,251 23,251 23,251 23,251 23,251 23,251 23,251 23,251
Interest Expense** 3,148,839 211,161 198,373 185,138 171,440 157,262 142,588 127,401 111,681
Transfers Out 14,084,612 0 0 0 0 0 0 0 0
Debt Service-Bonds 53,095,030 0 0 0 0 0 0 0 0
Debt Service-Rev.Notes 39,632,675 1,458,068 1,458,068 1,458,068 1,458,068 1,458,068 896,201 896,201 896,201
Debt Service-Other 5,910,567 0 0 0 0 0 0 0 0
Interfund loans 8,122,981 ! 0 0 0 0 0 0 0 0
Other Expenses 31,455,447 523,133 523,133 523,133 523,133 523,133 523,133 523,133 523,133
Annual Expenses 220,105,972 2,416,520 2,403,568 2,390,333 2,372,733 2.358,555 1,750,799 1,735,611 1,719,051
Annual Increase/Decrease 25,126,286 1,025,991 1,029,299 1,034,269 1,000,241 1,005,241 819,228 823,323 819,033
Ending Fund Balance 25,126,286 10,612,545 11,641,843 12,676,112 13,676,353 14,681,593 15,500,822 16,324,145 117,143,178
01
Debt Service Reserve(next yrs Bonds) I 0 0 0 0 0 0 0 0
IIIIMMIlmmillIMIIIIIMIIIMMIIMmullnillaiiiimo inior
Ending Fund Balance After Debt Service 10,612,545 11,641,843 12,676,112 13,676,353 14,681,593 15,500,822 16,324,145 17,143,178
CASH Balance -- 10,907,033 11,936,332 12,970,601 13,550,213 14,555,453 15,164,916 15,988,239 16,807,272
Interfund Loan Balance (6,339,054) (5,872,810) (5,393,331) (4,900,154) (4,382,862) (3,892,048) (3,386,046) (2,864,325)
*Interest Earnings on Be. of Yr balance 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
**Interest Ex.ense on ne.ative fund balance 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
Administrative Fees-Annual 7.5% 8.4% 8.4% 8.4% 8.4% 8.4% 9.7% 9.7% 9.7%
Administrative Fees-Cumulativ: Estimated 6.6% 6.7% 6.8% 6.8% 6.8% 6.9% 6.9% 7.0%
Est.Ori.inal Market Value 33,740,360 33,701,960 33,701,960 33,561,660 33,561,660 17,177,160 17,177,160 17,068,360
Ori•inal Tax Ca.aci -- 652,039 651,655 651,655 650,252 650,252 323,312 323,312 322,224
Total Market Value -- 143,358,994 143,175,194 143,175,194 139,707,666 139,707,666 97,814,566 97,814,566 96,962,866
Estimated Tax Ca.aci - 2,584,705 2,582,867 2,582,867 2,548,192 2,548,192 1,711,080 1,711,080 1,702,563
0 0 0 0 0 0 0 0
Ca•tured Tax Ca•aci 1,932,666 1,931,212 1,931,212 1,897,940 1,897,940 1,387,768 1,387,768 1,380,339
Calculated Tax Increment 2,378,323 2,376,677 2,376,677 2,337,655 2,337,655 1,713,358 1,713,358 1,704,952
Variance 0 0 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 ;I� 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Fridley Cash Flow 2016c.xlsx Prepared by Sevenich,Butler,Gerlach&Brazil,Ltd. 8/17/2016
ACTION ITEM
HRA REGULAR MEETING
Raley DECEMBER 1, 2016
Date: November 23, 2016
To: Wally Wysopal, Executive Director
From: Paul Bolin, Asst. Executive HRA Director
Subject: CEE Loan.Program Contract Extension
The Center for Energy and Environment (CEE) is the non-profit agency responsible for
administering the HRA's housing rehabilitation programs. The Authority has contracted
with CEE since 1996 to oversee the housing programs. Partnering with CEE, allows
the HRA to outsource most of the administrative functions, including program
marketing, loan processing, underwriting, loan closing, and disbursements to the
contractors.
CEE is able to provide technical assistance to Fridley homeowners on such topics as
remodeling, energy conservation, indoor air quality and related subjects. The
partnership with CEE allows the Authority to leverage outside dollars (e.g. Minnesota
Housing Finance Agency, Met Council, Federal funds, etc.) and customize loan
packages to meet individual homeowners' circumstances.
The current agreement with CEE expires on December 31, 2016. Staff believes it is
important to continue working with CEE and is recommending that the HRA renew its
commitment for another two years. CEE is not seeking any changes in the rate of
compensation for their services.
Overview of Existing Agreement
Attached is a copy of the proposed extension that would run through December 31,
2018. The following section summarizes the major contract components.
Administrative Responsibilities
CEE is responsible for administering a number of different loan programs on behalf of
the Authority. Each of these programs is designed for a particular target market (e.g.
very-low income, low income, or middle-income). When CEE receives an inquiry from
an interested resident, several questions are asked in order to identify which program
best meets their needs. At that point, CEE works with the resident to complete a loan
application and collect the necessary information to evaluate their eligibility. Among the
issues that will be examined are the borrower's income, credit history and related
factors. CEE then outlines the financing options and helps the homeowner select the
best terms and conditions. In some cases a loan might be funded by the Authority,
while in other cases the loan might be funded by MHFA. Once a loan is closed, the
funds are held in escrow until the work is completed; once the job is finished CEE
verifies that all permits have been obtained and that the work has been inspected.
Loan Fees
CEE is paid based on each loan that is made, rather than a flat administrative charge.
If loans are originated under an MHFA program, MHFA pays CEE an origination fee
($550.00 per loan). If loans are originated under one of the Authority's programs, the
HRA pays CEE an origination fee ($550.00 per loan). This rate of compensation is the
same as the last agreement.
Comprehensive Building Analysis (Remodeling Advisor)
CEE is paid a flat fee of$225.00 per visit by the remodeling advisor. Generally, these
visits take 1.5 to 2.0 hours to complete and are done on site at the resident's home.
This rate of compensation is the same as the last agreement.
Installation Verification
CEE is paid a flat fee of$70.00 per inspection. Generally, if a building permit is
required (and the work will be inspected by the city), CEE does not charge a fee. In
cases where the work does not require a permit (e.g. carpet, painting, landscaping,
fencing, etc.), CEE staff will make an inspection to verify that the work has been
completed. This rate of compensation is the same as the last agreement.
Recommendation
Staff recommends that the Authority approve the amendment to the Loan Origination
Agreement with the Center for Energy and Environment through December 31, 2018.
Len1i2
Center for Energy and Environment
October 26, 2016
Mr. Paul Bolin
City of Fridley HRA
6431 University Ave N.E.
Fridley, MN 55432
Dear Mr. Bolin:
Enclosed are two signed copies of Amendment 7 to the Loan Origination Agreement between
the Center for Energy and Environment and the Housing and Redevelopment Authority in and
for the City of Fridley.
This amendment 7 extends the dates of service of the contract from Dec 31, 2016 to December
31, 2018.
If these copies are acceptable please have them both signed and return one to me in the
envelope provided.
We are excited to continue working with you on these unique programs.
I can be reached at (612) 335-5881 or nphelps@mncee.org if you have any questions.
Thank you Paul.
Sincerely,
. ` F
Nathen Phelps
Community Relations Manager
Center for Energy and Environment
212 3rd Ave N. Suite 560
Minneapolis, MN
212 3rd Avenue North, Suite 560 a Minneapolis, MN 55401
www.mnlendingcenter.org main 612.335.5884 m fax 612.335.2650
Amendment Seven to the Loan Origination Agreement
between
Center for Energy & Environment (CEE)
and
Housing and Redevelopment Authority in and for the City of Fridley
The Agreement dated 18t day of February,2004 for the administration of the Comprehensive Housing
Rehabilitation Program for the City of Fridley is hereby amended.
Section 2. Compensation
Remodeling Advisor Visit section shall be amended to read as follows:
Home Visit/Inspection $225.00
The Authority shall pay CEE a fee for each home visit completed. A home visit shall be defined as a
remodeling advisor visit,prioritization analysis inspection, building analysis or rehabilitation counseling visit.
3. The Authority's Obligations
Section 3.7 shall be removed from the agreement. (Effective April 2012 loan disbursements are made from
CEE accounts and CEE bills the Authority)
5. Term and Termination
5.1 Unless earlier terminated as provided in the following paragraphs,this Agreement shall become effective
on January 1,2004 and continue through December 31,2018.
All other sections of the contract shall remain as written in the original agreement.
IN WITNESS WHEREOF, the parties here hereunder set their hands as of the date written below:
HOUSING AND REDEVELOPMENT CENTER FOR ENERGY AND ENVIRONMENT
AUTHORITY IN AND FOR THE CITY
OF FRIDLEY
By By
Jenni er Amendt, Corporate Secretary
Print Name
Date Date lailgI (V'
By Federal Tax ID 41-1647799
Asst Executive Director
Date
T:\COMMON\DATA\600\Contracts for Loan Programs\Fridley\Amend 7 Fridley Agreement CEE Doc 2333.doc 10/18/2016
Fridley HRA
Housing Program Summary
Cover Page
December 1, 2016 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 Will be provided at next week's meeting.
H:\Paul's Documents\HRA\HRA Agenda Items\2016\December 1,2016\Housing Program Cover December 1 2016.docx
FRIDLEY Loan Summary Report
Activity for Period 10/16/16 -11/15/16
cee
Center for Energy and Environment
Application packets requested/mailed: This period: 1 Year-to-Date: 17
Residential Advisor Visits: This period: 0 Year-to-Date: 11
Loans currently in process for residents in your City/Neighborhood: 3
Closed Loans This period: Year-to-Date:
Fridley Units Units
0 0
Closed End 25275.00 1 346,390.60 15
Last Resort 0.00 0 0.00 0
Last Resort Emergency 0.00 0 10,000.00 1
Deferred
Mobile Home Closed End 0 0
Total 25,275.00 1 356,390.60 16
Leveraged Funds This period: Units Year-to-Date: Units
MHFA FUF 0.00 0 34,035.00 2
Total 0.00 0 34,035.00 2
Types of Improvements Financed YTD #of Projects %of Total Types of Properties Financed YTD # %of Total
Additions/Finishing off unused space 1 4.17 Single Family Residence 18 100.00
Bathrooms 1 4.17
Driveways 1 4.17
Flooring/Carpet/Tile 1 4.17
Foundations/Basement 1 4.17
Garage 1 4.17
Heating System 1 4.17
Kitchens 4 16.67
Landscaping 2 8.33
Other Exterior Improvements 2 8.33
Other Interior Improvements 2 8.33
Plumbing 2 8.33
Roof 1 4.17
Siding,Stucco, Exterior Paint 1 4.17
Windows,Doors,Storm Windows,Storn 3 12.50
Home Energy Squad visit numbers were not available at the time of packet preparation, but will be provided at next
weeks meeting.