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<br /> Joint Development Authority <br />TCAAP Redevelopment Project <br />Joint Development Authority <br />TCAAP Redevelopment Project <br />AGENDA ITEM 8a <br /> <br />MEMORANDUM <br />DATE: February 5, 2024 <br /> <br />TO: Joint Development Authority Board of Commissioners <br /> <br />FROM: Ella Mitchell, Ramsey County <br /> <br />SUBJECT: Update on JDA Annual Report <br /> <br />Per the Joint Powers Agreement (JPA), the JDA shall prepare an annual report to be submitted to the <br />City and County not later than February 15 of each year. The JPA does not prescribe what the annual <br />report must entail. In the past, this requirement has typically been fulfilled by a County project financial <br />report. Staff propose the creation of a new Annual Report standard that describes the work of the JDA, <br />including: <br />-Review of JDA meetings and activities <br />-Review of JDA revenues and expenditures <br />-Review of Rice Creek Commons development activities <br />-Review of City and County activities relevant to Rice Creek Commons <br /> <br />In advance of this Annual Report, below is an overview of JDA expenditures for 2023. <br /> <br />2023 JDA Expenditures Budget Actual Balance <br />Legal $ 60,000.00 $ 30,468.46 $ 29,531.54 <br />Communications and Community Engagement $ 170,000.00 $ 24,661.42 $ 145,338.58 <br />Insurance $ 2,035.00 $ 2,035.00 $ - <br />Meeting Expense $ 3,600.00 $ 4,409.13 $ (809.13) <br />Contingency $ 5,000.00 $ 809.13 $ 4,190.87 <br />Total $ 240,635.00 $ 62,383.14 $ 178,251.86 <br /> <br />Attachment: <br />None <br /> <br />Action Requested: <br />None <br /> <br />