Loading...
HomeMy WebLinkAbout10-28-13 Address: Chair: 1245 W Highway 96 David Grant Arden Hills MN 55112 Commissioners: -AVENHILLSPhone: Brenda Holden 651-792-7800 Fran Holmes Economic Development Dave McClung Authorit Website; Ed Werner y en www.cit ofardhills.or October 28, 2013 y g 6:00 p.m. City Hall City vision Arden Hills is a strong community that values its unique environmental setting, strong residential neighborhoods, vital business community, well-maintained infrastructure, fiscal soundness, and our long-standing tradition as a desirable City in which to live, work, and play. Agenda CALL TO ORDER 1. APPROVAL OF AGENDA 2. APPROVAL OF MINUTES 2.A. Approval Of Minutes July 29, 2013, Regular EDA August 26, 2013, Special EDA Documents: 07-29-13.PDF, 08-26-13.PDF 3. CONSENT CALENDAR 4. NEW BUSINESS 4.A. Approve Preliminary 2014 EDA Budgets Sue Iverson, Treasurer Documents: MEMO.PDF. 2014 PROPOSED EDA BUDGET.PDF 4.13. Update On Carroll's Property Jill Hutmacher, Executive Director Documents: MEMO.PDF, ATTACHMENT A.PDF 4.C. TIF 3 (Cottage Villas) Update Patrick Klaers, Secretary Documents: MEMO.PDF, ATTACHMENT A.PDF 5. UNFINISHED BUSINESS 6. EDA MEMBER COMMENTS 7. STAFF COMMENTS ADJOURN DRAFT --.-ARpEN HILLS Approved: CITY OF ARDEN HILLS,MINNESOTA ECONOMIC DEVELOPMENT AUTHORITY MEETING JULY 291)2013 6:00 PM—ARDEN HILLS CITY HALL CALL TO ORDER/ROLL CALL Pursuant to due call and notice thereof, President Grant called to order the Economic Development Authority(EDA)meeting at 6:00 p.m. Present: EDA President David Grant; EDA Commissioners Brenda Holden, Fran Holmes, Dave McClung, and Ed Werner Absent: None Also present: Secretary Patrick Klaers; Treasurer Sue Iverson; City Planner Ryan Streff; Public Works Director Terry Maurer; Community Development Intern Matthew Bachler; and Deputy Clerk Amy Dietl 1. APPROVAL OF AGENDA MOTION: EDA Commissioner Holmes moved and EDA Commissioner Werner seconded a motion to approve the meeting agenda as presented. The motion carried unanimously (5-0). 2. APPROVAL OF MINUTES A. April 2 9, 2013 MOTION: EDA Commissioner Holmes moved and President Grant seconded a motion to approve the April 29, 2013, Economic Development Authority meeting minutes as presented. The motion carried unanimously (5-0). 3. CONSENT CALENDAR Noire. ARDEN HILLS EDA MEETING—JULY 29, 2013 2 4. NEW BUSINESS A. Round Lake Road and TIF District 2 Funds Secretary Klaers stated that at the June 17, 2013, City Council work session, the Council considered the issues related to a Round Lake Road (RLR) improvement project. Staff estimated the expense for this project to be $2.6 million with half of the expense intended for utilities and the other half for street and land acquisition. Council had directed staff to put this project in the 2014 CIP and to use TIF District 2 funds for the project. The project would be assessed to benefitting property owners for some of the costs associated with road improvements. Further information on the assessments would be known after the feasibility study was complete. Secretary Klaers commented that the TIF District 2 has over $1 million in funds that can be used for any City approved project or activity without restrictions. Another $159,481 In ftmding is available to be spent consistent with the TIF 2 budget, which is what would be used for the RLR project. Staff recommended that the additional funds be transferred out of the TIF district to the PIR Fund when the EDA meets in October. He requested that the EDA approve the use of TIF District 2 funds ui the amount of$159,481 to be used for the RLR project. Treasurer Iverson discussed the finances in fiu-ther detail with the EDA. President Grant questioned if the City would be able to complete the RLR project in 2014. Public Works Director Maurer stated that his only concern is the land acquisition portion of the project. He indicated that the feasibility study will clarify this issue in detail for the City. EDA Commissioner Holden asked what street width will be used for Round Lake Road. Public Works Director Maurer suggested that the road follow Municipal State Aid (MSA) standards and remain a four-lane road. EDA Commissioner Holmes inquired how the City will fiend the difference between the TIF fiends available and the estimated project cost. Public Works Director Maurer indicated that half of the project costs are for buried utilities, acid these expenses can be funded through the Sanitary Sewer and Water Funds. EDA Commissioner Holmes questioned why MSA fiends are not proposed for this project. President Grant stated that some MSA fields can be used to assist in ftulding this project and that more would be known after the feasibility report is complete. EDA Commissioner Holden asked where the TIF District 2 fiends will be placed in the budget. ARDEN HILLS EDA MEETING—JULY 29, 2013 3 Secretary Klaers recommended that the fiinds not be placed in the General Fund, but rather the PIR Fund. MOTION: EDA Commissioner Holden moved and President Grant seconded a motion to approve a budget amendment and the transfer of non-tax increment funds from the TIF District 2 in the amount of$1,027,984 to be placed in the PIR Fund. The motion carried unanimously (5-0). MOTION: EDA Commissioner Holden moved and EDA Commissioner Holmes seconded a motion to approve the remaining TIF District 2 funds be slated for the Round Lake Road improvement project. The motion carried unanimously _- . B. 2014 EDA Budgets Secretary Klaers reviewed the preliminary 2014 budget in detail with the EDA. The five EDA Rmds were discussed, along with estimated staffing expenses for the corning year. He indicated that in 2015, the EDA could run out of money to finance expenses; therefore, the EDA needs to find a reliable, reoccurring source of revenue to finance staff time and operating expenses. A transfer from the General Fund can be made, or a separate EDA levy could be considered. Treasurer Iverson explained that the TIF 2 Round Lake District has been ftmding the EDA expenses for a number of years, but this district will decertify in 2015. She fiu-ther discussed the staff expenses for the EDA. EDA Commissioner Holden asked who provided personnel services to the EDA. Secretary Klaers stated that these services were provided by Treasurer Iverson, Executive Director Hutmacher, and himself. Further discussion ensued regarding the EDA's goals and objectives, along with the history of the EDA. EDA Commissioner Holmes was in favor of considering an EDA levy in the future. President Grant stated that this could be considered; but would need a great deal of discussion. Secretary Klaers indicated that the EDA levy could be discussed fuuther at a future meeting. He noted that there is a levy limit of 3% on the City General Fund for 2014. An EDA tax levy is based on a percentage of the market value. The maxununi EDA levy in 2014 would be approximately$187,700. EDA Commissioner Holden cautioned the EDA from further raising fees and taxes on the Arden Hills residents. ARDEN HILLS EDA MEETING—JULY 29, 2013 4 EDA Commissioner McClung explained that a separate EDA levy would provide the public with greater clarification of the fluids being used specifically for economic development. In addition, a corresponding decrease in the general field levy could also be defined. Treasurer Iverson requested that the EDA adopt the prelimm" a y budget for 2014. MOTION: EDA Commissioner Werner moved and EDA Commissioner Holden seconded a motion to approve the preliminary EDA budgets for 2014. The motion carried unanimously (5-0). 5. UNFINISHED BUSINESS A. EDA Revolving Loan Program Community Development Intern Bachler discussed the EDA Revolving Loan Fund Program with the EDA. He explained that after the passage of the Minnesota Business Subsidy Law, the City's loan fund was now regulated by this I anv and must f of I ow certain gui del i nes and requirements. Secretary Klaers conunented that the EDA would need to update its existing guidelines, which were established in 1997, to more closely match the new standards. In addition, the EDA should establish goals for the loan program. EDA Commissioner Holden asked if revolving loans could be made for less than $75,000. Secretary Klaers stated that this could be done through the current program and internal parameters could be established as such. Further discussion ensued regarding the use of EDA revolving loans in the City. President Grant reconunended this item be placed on a future agenda for further discussion on the policy issues. 6. EDA COMMISSIONER COMMENTS Norse. 7. STAFF COMMENTS None. ARDEN HILLS EDA MEETING—JULY 29, 2013 5 S. ADJOURN MOTION: President Grant moved and EDA Commissioner Holmes seconded a motion to adjourn the Economic Development Authority meeting. The motion carried unanimously (5-0). EDA President Grant adjourned the special Economic Development Authority meeting at 7:00 p.m. Patrick Klaers David Grant S ecretaiy EDA President DRAFT �S EN HILLS Approved: CITY OF ARDEN HILLS,MINNESOTA SPECIAL ECONOMIC DEVELOPMENT AUTHORITY MEETING AUGUST 269 2013 CITY COUNCIL CHAMBERS CALL TO ORDER/ROLL CALL Pursuant to due call and notice thereof, President Grant called to order the special Economic Development Authority(EDA) meeting at 7:3 8 p.m. Present: EDA President David Grant; EDA Commissioners Brenda Holden, Fran Holmes, Dave McClung, and Ed Werner Absent: None Also present: Secretary Patrick Klaers; Executive Dit�ector Jill Hutinacher; Community Development Intern Matthew Bachler; and Deputy Clerk Amy Died 1. APPROVAL OF AGENDA MOTION: President Grant moved and EDA Commissioner Holmes seconded a motion to approve the meeting agenda as presented. The motion carried unanimously (5-0). 2. UNFINISHED BUSINESS A. EDA Revolving Loan Program Community Development Intern Bachler stated that the EDA Revolving Loan Fund (RLF) was discussed at two previous EDA meetings. At these meetings, general background information on the RLF was provided. Topics covered included the establislunent of the RLF, the use of funds for business expansion projects, the current financial status of the RLF, and flow the Minnesota Business Subsidy Law will impact the use of the RLF going forward. The RLF currently has a cash balance of approximately$155,000. ARDEN HILLS SPECIAL EDA MEETING—AUGUST 261, 2013 2 Community Development Intern Bachler indicated that the guidelines for the use of the RLF were first adopted in 1997, and since then, have not been updated. At the end of July 29, 2013, meeting, the EDA began to di scuss how the f unds i n the RL F cowl d be used to achi eve the City's economic development goals and whether the RLF guidelines should be updated to reflect changes in priorities. Community Development Intern Bachler noted that loans issued through the RLF will be regulated by the Minnesota Business Subsidy Law. Loans less than $75,000 are not considered business subsidies and are exempt from the provisions of this law. Any revised guidelines will need to be reviewed by the State Department of Employment and Economic Development prior to EDA and City Council approval. Staff reviewed several questions and requested guidance fi om the EDA on the Ci ty's goals and policies for the RLF. Executive Director Hutmacher commented that the Ci ty's current RLF policy is stricter than the State's pol i cy. She stated that the two key components within the policy at this time are for the City to avoid loalns over $75,000 and grants over $25,000. With these parameters in hind, she questioned how the Commission wanted to proceed with the program. Discussion ensued regarding the State Business Subsidy Law, the City Business Subsidy Policy, and the size and scale of potential loans within the RLF program. President Grant was in favor of proceeding with smaller loans as thus would allow the program to reach more businesses within the community. EDA Commissioner McClung was not sure where he stood on this issue because the City had little experience with the RLF program. In response to the questions in the staff memo, EDA Commissioner Holden stated that she supports loans for commercial fagade improvements, that projects should have a grade of B or better, and that she was open to discussing forgiving a percentage of some loans. EDA Commissioner Holden stated that one goal of the program may be to encourage home occupations to expand into commercial areas within the City. She questioned if the EDC had discussed this issue. Executive Director Hutmacher explained that the EDC was waiting for EDA policy direction. She questioned if the EDA wanted to consider partial forgiveness on the loans or the parameters that should be set on the loans. EDA Commissioner McClung envisioned that this program would assist small businesses with expansion or to bring new businesses into the City. He noted that section 6.2.D of the City Business Subsidy Policy identifies priorities for giving subsidies. President Grant saw greater benefit in moving businesses to the commuunity. ARDEN HILLS SPECIAL EDA MEETING—AUGUST 261, 2413 3 Discussion ensued regarding the PACE building and business. EDA Commissioner Holmes asked i f i t was worth the A uthori tyI s ti me to revi ew and revi se thi s progi am. President Grant was in favor of giving the program a try and making the loans attractive enough to small business owners to be pursued. EDA Commissioner McClung recommended that the Authority allocate the funds available with half set aside for facade improvements and the other half for business retention or expansion. President Grant asked if the Authority supported this recommendation. EDA Commissioner Holmes recommended that the funds not be split in half because the City cannot anticipate who will snake requests for the fiuids. President Grant and EDA Commissioner Werner agreed. President Grant inquired if the Authority wanted to push the program to the community or wait for requests to come to the EDA. EDA Commissioner Holmes wanted the loans to be selective with no high risk candidates. She was not supportive of loans for equipment acquisition, working capital, or professional fees. President Grant agreed with these suggestions, but recommended that the loans be low interest and that they be repaid in five years. He was not supportive of grants or equipment loans. EDA Commissioner Holden suggested that the loans have few restrictions so as to remain attractive to business owners. EDA Commissioner McClung wanted to see 1%-2% interest rates to assure the City is keeping a balance in the revolving loan fund. Executive Director Hutmacher thanked the EDA for their input this evening. 3. EDA COMMISSIONER COMMENTS None. 4. STAFF COMMENTS None. 5. ADJOURN ARDEN HILLS SPECIAL EDA MEETING—AUGUST 261, 2013 4 MOTION: President Grant moved and EDA Commissioner McClung seconded a motion to adjourn the special Economic Development Authority meeting. The motion carried unanimously (5-0). EDA President Grant adjourned the special Economic Development Authority meeting at 8:38 p.m. Patrick Klaers David Grant Secretary EDA President NEW BUSINESS EN HILLS MEMORANDUM DATE: October 281 2013 TO: Honorable Chair and EDA Commissioners Patrick Klaers, Secretary FROM: Sue Iverson, Treasurer SUBJECT: EDA Budgets for 2014 Backeround/Discussion Attached for your review are the preliminary 2014 EDA budgets. These budgets are: the summary page showing of all the EDA budgets, the EDA General Fund, the Revolving Loan Fund, TIF 21, TIF 31 and TIF 4. At the last EDA meeting, a transfer was approved and a budget amendment to remove non-tax increment revenues from TIF 2 and place them into the PIR Fund. This change has been made and as a result the interest income in that fund has been revised. There have not been any other major changes to these budgets since the last meeting. Requested Action The EDA is requested to approve the preliininaiy EDA budgets for 2014. (These budgets are not dependent on a tax levy for revenues. These budgets may be revised prior to final approval in November/December.) Attachments Preliminary 2014 EDA Budget 2014 PROPOSED BUDGET City of Arden Hills Economic Development Authority October 28, 2013 EDA Funds Summary Special Revenue Funds Actual Actual Budget Amended Year To Date Proposed %Change FY 2011 FY 2012 FY 2013 FY2013 10124/2013 FY 2014 13 vs 14 Operating Revenue EDA General Fund 31,994 57,125 35,250 35,250 35,748 50,000 41.84% EDA Revolving Fund 4,290 1,275 2,500 2,500 - 1,300 -48.00% EDA TIF Dist#2 Round Lake 317,703 342,172 290.000 290,000 188,314 250,200 -13.72% EDA TIF Dist#3 Cottage Villas 43,348 44,603 43,000 43,000 25,932 44.600 3.72% EDA TIF Dist#4 Pres Homes - - - - 2,500 95.200 0.00% Operating Revenues 397,334 445,175 370,750 370,750 252,495 441,300 19.03% Other Financing Sources EDA General Fund 12,600 189,955 - 30,000 30,000 50,000 66.67% EDA Revolving Fund - - - - - - 0.00% EDA TIF Dist#2 Round Lake - - - - - - 0.00% EDA TIF Dist#3 Cottage Villas - - - - - - 0.00% EDA TIF Dist#4 Pres Homes - - - - - - 0.00% Other Financing Sources 12,600 189,955 - 30,000 30,000 50,000 66.67% Total Revenues $ 409,934 $ 635,130 $ 370,750 $ 400,750 $ 282,495 $ 491,300 22.60% Operating Expenses EDA General Fund 3,506 53,916 86,048 86,048 41,221 97,882 13.75% EDA Revolving Fund - - - - - - 0.00% EDA TIF Dist#2 Round Lake 1,716 1,393 2,300 2,300 685 2,300 0.00% EDA TIF Dist#3 Cottage Villas 2,245 1,484 4,400 4,400 685 4,700 6.82% EDA TIF Dist#4 Pres Homes - 973 300 300 21,680 7,500 2400.00% Operating Expenses 7,467 57,765 93,048 93,048 64,271 112,382 20.78% Capital Outlay EDA General Fund - 5,330 30,000 30,000 5,744 40,000 33.33% EDA Revolving Fund - - - - - - 0.00% EDA TIF Dist#2 Round Lake - - - - - 159,481 0.00% EDA TIF Dist#3 Cottage Villas - - - - - - 0.00% EDA TIF Dist#4 Pres Homes - - - - 5,367 - 0.00% Total Capital Outlay - 5,330 30,000 30,000 11,111 199,481 564.94% Other Finance Uses EDA General Fund - - - - - - 0.00% EDA Rewlv+ng Fund - - - - - - 0.00% EDA TIF Dist#2 Round Lake 284,325 286,698 283,520 1.311,504 1,311,504 284,772 -78.29% EDA TIF Dist#3 Cottage Villas - - - - - - 0.00% EDA TIF Dist#4 Pres Homes - - - - - - 0.00% Other Financing Uses 284,325 286,698 283,520 1,311,504 1,311,504 284,772 -78.29% Total Expenditures $ 291,792 S 349,793 $ 406,568 $ 1,434,552 $ 1,386,886 $ 596,635 -58.41% Fund Balances-January 1 1,548,617 1,666,759 1,952,096 1.952,096 1,952,096 918,294 Excess Revenue Over Expenditure 118,142 285,337 (35,818) (1,033,802) (1,104,391) (105,335) Fund Balances-December 31 $ 1,666,759 $ 1.952,096 $ 1,916,278 $ 918,294 $ 847,705 $ 812,959 - 1 - EDA GENERAL Function: Economic Development Supervisor: Community Development Director Fund#: 250 Activity#: 47300 Activity Scope This Special Revenue Fund accounts for general administration activities that are not specific to any individual Tax Increment Financing(TIF)District, as well as activities associated with the Economic Development Commission and Economic Development Authority. Objectives 1. Research the City revolving loan program,restrictions, guidelines, and possible future uses. 2. Consider the use of TIF District 2 funds for Round Lake Road and sanitary sewer improvements. 3. Consider the use of TIF District 3 funds for low to moderate housing needs. 4. Review operating budget and identify a sustainable funding source. 5. Consider establishing a business retention program. Is- 1. Consistent administration of the City's policies,plan, ordinances, guidelines, statutes, etc. 2. Promotion of industrial property available. Measurable workload Data None developed at this time. Budget Commentary The revenue to this fluid has been primarily excess increment and interest income in the past years with transfers from the General Fund from 2008 -2011. A transfer was made in 2012 and 2013 for the Conduit Debt revenue received in 2011 and 2012 from the Presbyterian Homes project. The tax increment excess has risen substantially over the past three years, but a tax petition has caused this to decrease recently and the total effect is not known. This funding source will go away after 2015. In 2008,the salary and benefit costs for this activity were transferred to the General Fund in the Planning Department. At that time, there was a negative fund balance and a transfer from the General Fund was set up to correct the negative balance and fluid Gateway signs, 2012 and 2014 have budgeted transfers from the -2- PIR fund. As previously stated, transfers had been routine from 2008 through 2012. With the 2012 budget, the salary and benefit costs had been transferred back to the fiend as before. An administrative charge has also been added as this Was established i i 2008 and all fields are charged back for overhead costs associated with Administration, Finance and Administrative Services, and Government Btllldillg departments iIl the General Fund. Other costs stich as auditing, financial sof vare, IT, and ulster ance have been allocated to this felled also. The expenditure budget shows are increase of 18.81% over 2013 primarily due to the fund covering its fair share of the Audltiner, Software and Technology costs. Bud et Summary Function: Economic Development Department: EDA General Fund Appropriation Detail Actual Actual budget Amended Year to Date Proposed %Change Activity FY 2011 FY 2012 FY 2013 FY2013 10/2412013 FY 2U14 13 vs 14 Revenues Taxes 29.281 48,058 35,250 35,250 31,561 48,000 36.17% Intergovernmental - - - - - - 0.00% Miscellaneous 2,713 9,067 - - 4,187 2,000 0.00% Other Financing Sources 12,600 189,955 - 30.000 30,000 50,000 66.67% Total Revenues $ 44.594 $ 247.080 $ 35.250 $ 65,250 $ 65,748 $ 100,000 53.26% Expenditures Total Personal SeNces - 41,/29 43,3l9 43,3/9 36.214 45,245 4.30% Total Materials and Supplies 306 - 1,200 1,200 - 650 -45.83% Other Service Charges 3.200 12,187 41,469 41,469 4.947 51,987 25.36% Capital Outlay - 5,330 30,000 30,000 5.744 40,000 33.33% Total Expenditures $ 3.506 $ 59,246 5 116,048 $ 116,048 S 46.965 $ 137.882 18.81% Fund Balance-January 1 68.554 109,642 297,476 297,476 " 297,476 246.678 Excess Revenue Over Expenditure 41,088 181.834 (80,198) (50,198) 18,183 (3(,882) Fund Balance-December 31 $ 109.642 $ 291,416 5 216,618 $ 246,6(8 5 316,259 $ 208,t96 -3 - EDA REVOLVING LOAN FUND Function: Economic Development Supervisor: Community Development Director Fund#: 251 Activity#: 47306 Activity Scope This Special Revenue Fund was established to administer economic development loans. The primary revenue source is from investment income. Obi ectives 1. To assist local businesses that meet the loan criteria established by the EDA. Issues 1. Current economy does not lend itself to expansion or improvements. 2. Promoting the program to the community businesses. Measurable Workload Data None developed at this time. Budget Coinimentary There are currently no planned expenditures at this time. Activity in this fiend would occur if the Economic Development Authority authorized a loan after an application is made. Budget Summary Function:Economic Development Department: EDA Revolving Fund Appropriation Detail Actual Actual Budget Amended Year To Date Proposed %Change Activity FY 2011 FY 2012 FY 2013 FY2013 10124/2013 FY 2014 13 vs 14 Revenues Total Miscellaneous 4,290 1,215 2,500 2,500 - 1,300 -48.00% Total Revenues $ 4,290 $ 1,215 $ 2,500 $ 2,500 $ - $ 1,300 -48.00% Fund Balance-January 1 150,084 154,374 155,649 155,649' 155,649 158,149 Excess Revenue Over Expenditure 4,290 1,275 2,500 2,500 - 1,300 Fund Balance-December 31 $ 154.374 $ 155,649 $ 158.149 $ 158,149 $ 155.649 $ 159.449 -4- ARPEN HILLS This page intentionally left blank. -5 - EDA TIF DISTRICT #2 - ROUND LAKE Function: Economic Development Supervisor: Director of Finance and Administrative Services Fund#: 252 Activity#: 47307 Activity Scope TIF District No. 2, Round Lake Office,was established as a twenty-five year Redevelopment District on June 29, 1989. This district is located on the northeast quadrant of the I-35W/I694 intersection. This district will decertify on December 31, 2015. Improvements for this district were funded with the issuance of$3,100,000 General Obligation Tax Increment Bonds on March 1, 1998. Debt Service Fund No. 325 was created, per statute,to track repayment of the bond principal and interest. An inter-fluid loan from the Permanent Revolving Fund No. 411 was needed for the acquisition of the Indykiewicz property. This loan was repaid in full in 2004. All non-tax increment revenue was transferred out of this fund in 2013 to the PIR Fund. Objectives 1. Utilize available TIF funds for part of the Round Lake Road iinprovement project. Is- 1. Ensure compliance with TIF laws for use of available funds. Measurable Workload Data None developed at this time. Budget Commentary There are no significant changes in this fiind in 2014 other than a reduction in interest income as a result of the transfer out of non-increment fluids to the PIR Fund. Annual transfers are made to Debt Service Fund No. 325 for principal and interest payments on the G.O. Tax Increment Refiinding Bonds, 2004A. -6- Budpzet SLItylinary . Function: Economic Development Department: EDA T1F District#2 Round Lake Office Park Appropriation Detail Actual Actual budget Amended Year to Date Proposed %Change Activity FY 2U11 FY 2012 FY 2013 FY2U13 1U12412013 FY 2014 13 vs 14 Revenue Taxes 273,765 340,032 275,000 275,000 188.314 250,000 -9.09% Miscellaneous 43,938 2,140 15,000 15,000 - 200 -98.67% Total Revenue $ 317.703 $ 342.172 $ 290,000 $ 290.000 $ 188.314 $ 250.200 -13.72% Expenditures Other Services and Charges 1,t16 1,393 2,300 2,300 685 2,300 0.00% Capital Outlay - - - - - 159,481 0.00% Operating Trans 284,325 286,698 283,520 1,311,b04 1,311,504 284,112 -18.29% Total Expenditures $ 286,041 $ 288,091 S 285,820 $ 1,313,804 S 1,312,189 $ 446,553 -66.01% Fund Balance-January 1 1,201,847 1.233,508 1,287,590 1,287,590 " 1,287,590 263,786 Excess Revenue Over Expenditure 31.661 54,082 4,180 (1,023,804) (1,123,875) (196.353) Fund Balance-December 31 $ 1,233.508 $ 1,287,590 $ 1.291.770 $ 263,786 $ 163,716 $ 67,433 -7- EDA TIF DISTRICT #3 - COTTAGE VILLAS Function: Economic Development Supervisor: Director of Finance and Administrative Services Fund#: 253 Activity#: 47305 Activity Scope TIF District No. 3, Cottage Villas Housing, was originally certified as a Housing District on May 10, 1993. This district is located on the east side of Cleveland Avenue,just south of County Road E-2/Cleveland Avenue intersection. This 64 unit Cottage Villas Apartment complex is available for low-moderate income seniors. Originally, this district was set to decertify on December 31, 2009. In December, 2009, the City Council extended this district until December 31, 2019, to allow the City the possibility of using these ftmds for other affordable housing projects within the City. The City entered into a"pay-as-you-go"agreement with Cottage Villas of Arden Hills Limited Partnership on February 28, 1994. The Development Agreement called for the developer to be reimbursed for certain public development activities initially estimated at $834,286. Repayment to the developer would only be from tax increment actually received from the district. Payments were to be 90% of the tax increment received not- to-exceed a total annual payment of$5 7,5 5 7. The City is no longer obligated to make payments after February 1, 2010. Objectives 1. Utilize available fluids for low to moderate income housing projects. Is- 1. Ensure use of funds is consistent with TIF laws. Measurable Workload Data. None developed at this time. Budget Commentary The City no longer has any obligations to pay the development as of Februaiy 1, 2010. Only administrative costs have been planned for 2014. -8- Budeet Stininiar Function:Economic Development Department: EDA T1F District#3 Cottage Villas Appropriation Detail Actual Actual Budget Amended Year To Date Proposed %Change Activity FY 2011 FY 2012 FY 2013 FY2013 10/24/2013 FY 2014 13 vs 14 Revenues Taxes 39,063 42,9/0 40,000 40,000 25,932 43,000 1.50% Intergovernmental 77 - - - - - 0.00% Miscellaneous 4,208 1,633 3,000 3,000 - 1,600 -46.67% Total Revenues $ 43,348 $ 44,603 S 43,000 $ 43,000 S 25.932 $ 44,600 3.72% Expenditures Other Services and Charges 2.245 1,484 4.400 4,400 685 4,700 6.82% Total Expenditures $ 2.245 $ 1,484 $ 4,400 $ 4,400 $ 685 $ 4,700 6.82% Fund balance-January 1 128,133 169,235 212,354 212,354 ' 212,354 250,954 Excess Revenue Over Expenditure 41,102 43,119 38,600 38,600 25,24/ 39,900 Fund Balance-December 31 $ 169,235 $ 212,354 S 250,954 $ 250,954 5 237,602 $ 290,854 EDA TIF DISTRICT #4 - PRESBYTERIAN HOMES Function: Economic Development Supervisor: Director of Finance and Administrative Services Fund#: 254 Activity#: 47308 Activity Scope TIF district No. 4, Presbyterian Homes, was established as a 15 year renewal and renovation district to facilitate the redevelopment of existing senor housing units and replacement of existing nursing home units. The first increment is scheduled to be received in 2014 with the districted expiring on December 31, 2029. Objectives 1. Utilize Rinds for Presbyterian Homes project per the development agreement. Is- 1. Ensure compliance with TIF laws for uses of available fluids. Measurable Workload Data None developed at this time. Budget Commentary No increment has been received as this district has not generated any income yet, but is expected to in 2014. The current budget at this tune consists of administrative charges. Budget SLin�iiiaiy Function:Economic Development Department: EDA TIF District#4 Pres Homes Appropriation Detail Actual Actual Budget Amended Year To Date Proposed %Change Activity FY 2011 FY 2012 FY 2013 FY2013 10/2412013 FY 2014 13 vs 14 Revenues Taxes - - - - - 95,200 0.00% Intergovernmental - - - - - - 0.00% Miscellaneous - - - - 2,500 - 0.00% Total Revenues $ - $ - $ - $ - $ 2,500 $ 95,200 0.00% Expenditures Total Materials and Supplies - - - - 3.522 - 0.00% Other Services and Charges - 973 300 300 18,158 7,500 0.00% Capital Outlay - - - - 5,36/ - U.UO% Total Operating Expenses - 973 300 300 27,047 7,500 0.00% Total Expenditures $ - $ 973 $ 300 $ 300 $ 27,047 $ 7,500 Fund Balance-January 1 - - (973) (973)' (973) (1,273) Excess Revenue Over Expenditure - (973) (300) (300) (24.547) 87,700 Fund Balance-December 31 $ - $ (973) $ (1,273) $ (1,273) $ (25,520) $ 86,427 - 10- Capital Improvement Plan 2014 thru 2018 Department Economic Development City of Arden Hills, Minnesota Contact Community-Devl Dir Pr of ect# 16-E DA-001 Type huprovement Useful Life Project Name Gateway Signs Category Economic Devl Improvement Priority n:'a Description Total Project Cost: $91.074 Install gateway sigiis at the major entrance points to the CitN,. Potential locations for the signs include: (1)Highway 96 at Round Lake Boulevard and(2)at Lexington Avenue;(3)County Road E2 at I-35`,1(4)Coiinty Road E at Highway 51 and(5)at Lexington Avenue: (6)County Road D at Cleveland Avenue(7)Lake Johanna Boulevard at the Roseville border;and(8)Lexington Avenue at the Roseville border. Potential sign locations are listed from north to south and are not in priority order A cost of$25.000 per sign,including installation.lighting,and landscaping is estimated. Actual costs may be more or less depending on the amount of site unprovements and,,-'or landscaping that are necessary in a specific location. In 2013.estimated costs include S20,000 for the corner of Lexington`Countv Road E(of which S5,050 will be paid throtigh a gi-ant.'donation)and S33,000 for Lake Johanna Boulevard`Cowitv Road D(of which approximately S5,500 will be paid throiigh grants:'donatiolis). The City paid S5..050 in 2012 towards the cost of the sign at Lake Johanna Boulevard:`County Road D. Two additional signs are included for each of years 2014 and 2015_ The City Council will be asked to identify sign locations for 2014 and 2015. Six total suns are included in the CIP. Justification Advance the economic development goals in the 2030 Comprehensive Plan Implement the Guiding Plan for the B2 District. work to better identify the entrance points to the Cite--for btisinesses and`-isitors. Foster civic pride and community identity. Prior Expenditures 2014 2015 2016 2017 2018 Total 7771� Construction/Maintenance 111L11 1111711 I1I17I1 Total Total 1111.11- rTTz>T MOT. Prior Funding Sources 2014 2015 2016 2017 2018 Total EDA Revenues Total Total Budget Impact/Other Annual maintenance costs for sign cleaning and care of landscaped beds surrounding the signs is estimated by the Ptiblic works Department at S500 per sign annually_ Budget Items 2014 2015 2016 2017 2018 Total Annual Maintenance Charge TLTi fTTFTT Total I M- 1111-11- Produced Using the Plan-It Capital Planning Software Friday,October 25,2013 - 11 - Capital Improvement Plan 2014 thru 2018 Department Street Department City of Arden Hills, Minnesota Contact Public Nk"orks Director Pr of ect# 14-St r-042 Type huprovement Useful Life 20-21 Project Name West Round Lake Road PM P Category Streets Reconstniction Priority n."a Description Total Project Cost: $2,627,650 Froini 1029'south ofCSAH 96 to 13th St NE Tlus segment of Round Lake Rd is in poor condition.TIF proceeds can be spent on the reconstruction of the road and utilities.Also,PW believes it nnay be possible to eliminate Lift Station#11 by laying gravity sanitary-'sewer along this alignment to the interceptor near the south end Justification History of wateimain breaks and needs upsizinfg from 8"to 12" By extending sanitary sewer tioni LS#11..along H%vV 96 and south on Round Lake Rd innav be able to eliminate LS 11(needs to cost effective) Storm sewer project must meet Rice Creek Watershed requirements. Development of vacant property. Cui-rent road 2005 PCI=46.2005 PCI=42 2005 AADT: 1400 Estimated increase m traffic from Traverse: 5500 trips per dad- NOTE: This project has been nnoved back to 2014 due to the need to Use the excess TIF funds and the potential that this uuprovennent will provide the opportunity to serve the south end of TCAAP_ Expenditures 2014 2015 2016 2017 2018 Total Land Acquisition L1.11L1=1= [TIT LL Construction/Maintenance I ILLIALIT I ILI 1 111 1 Total Irl_ntl_r SIT Funding Sources 2014 2015 2016 2017 2018 Total Sanitary Sewer Utility Fund TLC rrTrr� State Aid Funds C1Lff17LC QLLIALI I= Surface Water Mgmt Utility Fu I I I ITIT H 111-11- TIF District rF FTFFF TT= Water Utility Funds FFFIFFF 1 1 1 11.1 1 Total 1-F LILLIALU Budget Iinpact/Other The street has deteriorated past the point tivhere other forums of maienance are cost-effective. Long-term.reconstruction will provide a consistent roadway section that will reduce costs associated with patching potholes and other pavement failures. Monitoring!'maintenance wil be required for neN�,storniwater features that are not resident-inaintained rain gardens. Produced Using the Plan-It Capital Planning Software Friday,October 25,2013 - 12- NEW BUSINESS EN HILLS MEMORANDUM DATE: October 285 2013 TO: Economic Development Authority FROM: Patrick Klaers, Secretary SUBJECT: Car r of I's Back2round/Discussion The City Council discussed the old Carrol I's Furniture Store building and property at the October 21" work session. At this ineeting the Council expressed a desire to explore the possibility of purchasing the property. Staff has been in contract with the local broker for this property and will have a verbal update for the EDA on the issues and options available to the City. Attached i s some mated al on Carol I's taken f rom the Ramsey County GI S and websi te. Ito,. CARROLL's FURNITURE -AEN HILLS 1203 COUNTY f?oAD • Will -, . t ! P e � - i 4 1 _ •ram ,. .. Ll f K 1 I C Y r r t r :. do ' A . . • - i ti a t 7. • d Iry I •`* f '. '" -" rr+mow _ .. - County Road Map Date: October 21, 2013 Property Boundary P:1GIS DataTlanningTianning Cases120131Carroll's Furniture Tax and Property Look lip Information-Quick Info Page 1 of 1 Nome Site Map Contact Us Tax & PropertyLook Up Information - uick Info Home I I Information I I Property Look Utz Record Look Up Contact Us New PtopgtSearch > Quick Information c-ii�ck t4 Search Reckilts Go to E Pay(US[lank Browser Rt;g ts) Quick Info Prooerty Information Property Identification Number(PIN) 27.30.23.44.0003 Property Address 1203 County Road E W .Je Municipality Arden Hills Taxpayer Name and Address Watershed Rice Creek W/S School District Number 621 Value Information Assessment Date 01-02-2012 01-02-2013 VTIt,}c History Tax Payable Year 2013 2014 Total Estimated Market Value $2,000,000 $2,000,000 Str4g ure Description Total Taxable Market Value $2,000,000 $2,000,000 Total Estimated Land Value $496,600 $397,300 SHIP Information Total Estimated Building Value $1,503,400 $1,602,700 Property Tax $80,282.00 `,oecial Assessments Special Assessments $0.00 Proimly Tax Payrnf-rit Total Property Tax+Special Assessments $80,282.00 Information Property Class Description Comm/Ind Comm/Ind Prooerty Tax Payment History Year Built 1962 tt of Stories 1.00 2013 Value No i.e Residential Finished SQ Feet/Comm,Ind,Apt 40838 Bldg Area Foundation Size z013 Property Tax Statement The Plat or Section/Township/ Range and Legal Description listed below may be an 2.013 Payment Stubs abbreviated legal description-Do not use to prepare legal documents 2.013 Proposed Tax Notice Section/Township/ Range 27-30-23 Plat 27/30/23 2012 Value Notice Legal Description W 250 rt Of S 243 Ft Of Se 1/4 Of Se 1/4(subj To determine whether your property is To Rd And Esmts)In Sec 27 Tn 30 Rn 23 2012 PM erty Tax Statement Abstract or Torrens,call(651)266-2000 2011 Value Noti�e Most Recent Sale Sale Date 01-15-2002 2011 Prgverty Tax Statement Sale Price $1,725,000 Certificate of Real Estate Value Number 299853 Sale Status Comm Qualified Sale 2010 Value Notice Sale Description ')010 Prooerty Tax Stalernent Minnesota State l or m r.11 1 ell �)�t : l.I`f 4 C Database Last Refreshed 10-25-2013 05:28:00 Copyright 2003 Ramsey County Email:Ask ProofrtyraxandkecordsPco.!a-i)Sey•mil us 2xt only:On i Off i Site 11-1(jex I Policies at)c)Practices i Contact Lis I Horne http:ir'rrinfo.co.ramsev.mn.uslpuhlicl'characteristic/1'arccl.aspx?scrn=Quick&pin=273023440003&cnt-0 10/25/2013 Proposed 2013 273023440003 Ramsey County 2013 Proposed Property Tax This Is NOT a bill-- Do Not flay R'T�=s., .'IN 1'rt�li�l'1�"RCCOI-dS LIJ)d Re\'CftuC 90 West Ptaic Blvd • "airt rat.l f,fl,• Phone:h;1.i;i>?.;':'0 •Web:w-Aw.co.rarnsey.mn.usiprr• Email:M"skPropertyTax and Reccrds&o.rarnsey.mmus PINlProperty Address/Abbreviated Tax Description 273023440003 2517 1203 COUNTY ROAD E W SECTION 27 TOWN 30 RANGE 23 ROSENTHAL R E HOLDING LLC W 250 FT OF S 243 FT OF SE 114 OF SE CIO CARROLLS FURNITURE INC D AND ESMTS)IN SEC 27 TN 30 RN 23 14841 COPPERFIELD PL WAYZATA MN 55391-2505 I�l�ll�ll'ii'lll'll'l'�'IIIlllllllll���ll��l�ll�l'll' Illll'�"' For taxos payable For taxes payable in in 2012 in 2013 Property Classification Commilnd Comm/Ind Estimated Market Value S2,124,800 S2,000,000 Green Acres Value 0 0 Plat Deferment 0 0 Your Taxable Market Value foe property tax payanle in This Old House Exclusion 0 0 2013 was sent to you in the spring of 2012.The period Disabled Vets Value Exclusion 0 0 to discuss possible changes nas passed and changes Homestead Market Value Exclusion 0 0 can no longer be made to your property valuation. d is Taxable Market Value S2.124.800 S2,000,000 included here for your information or..- Column(1) Column(2) Mailing Address and Phone Numbers 2012 Tax-Actual 2013 Tax-Proposed Tax and Budget Meetings and Locations Ramsey County 15.151.42 15.007.95 Rosevi le Area High Schooi Capetena Regional Rail Authority 1,160.51 1,128.19 1240 Ca Rd 82 li est,Roseville,MN Public Safety Radio System 109.04 99-84 November 26,2012-6:30 p.m. County Library 1.171.70 1.145.90 Ramsey County Managers Off" 15 Vd Kd'*gg 131vd,Suite 250 St Paul,MN 55102 1 266-20jT, ARDEN HILLS 6,845.69 6,946.57 COUNCIL CLAMBERS 1245 WEST HWY 96 CITY OF ARDEN HILLS ARDEN HILLS,MN 1245 HIGHWAY 96 W DECEMBER 10,2012 7:00 PM ARDEN HILLS MN 55112-5400 (651)792-7800 State General Tax 21,332.21 20,802.50 No Meeting Required ISD#621 SNAIL LAKE EDUCATION CENTER ISD 621 350 WEST HIGHWAY 96 350 WESTHIGHWAY 96 SHOREVIEW,MN 55126 SHOREVIEW MN 55126 DECEMBER 11,2012 6.00 PM (651)621-6017 a.Voter approved levies 6.647.07 6,600.1.5 b.Other local levies 5,650.24 5.305.69 Metropolitan Soec,al Tax.rg Districts 878.17 834.76 Council Chambers Metropolitan Council 390 Robert St N 390 Robert St.N St Paul.MN St Paul,MN 55101 December 12,2012 -6:00 PM 16511602-1446 Other special taxing districts 629.36 576.77 t'-4D Meeting Required Tax increfren, 0.00 0.00 to Meeting Required Fiscal disparity 21.215.10 21,947.68 No Meel:ng Required I: Total Tax excluding special assessments 80,790.51 80,398.00 Percent of Tax Change -0.5% Your local units of government have proposed the amount of property taxes that they will need for 2013. Column(1)above shows your a.twal 2012 property taxes. Column(2)above shows what your 2013 property taxes will be if your local jurisdictions approve the property tax amounts they are now considering. Any upcoming referendums,legal judgments,natural disasters;voter approved levy limit increases,or special assessments could change these amounts. Your county commissioners,school board,city council,and metropolitan special taxing districts will soon be holding public meetings to discuss their proposed 2013 budgets and proposed 2013 property taxes.The school board will discuss the 2012 budget. You are invited to attend these meetings to express your opinion. The meeting places and times are listed above. Also shown are the addresses and telephone numbers for these local units of government If you have comments or questions concerning the proposed property tax amounts shown on this notice. No meeting is required if your city has a population of less than 500 people. There is also no public hearing on the state general tax isNOTa ill- DoNotPa`h sy For additional information about this notice, visit: www.co.ramsey.mn.us/prr Please see the back of this notice for more information on available appeals and programs that may reduce your property tax. NEW BUSINESS EN HILLS MEMORANDUM DATE: October 285 2013 TO: Economic Development Authority FROM: Patrick Klaers, Secretary SUBJECT: TIF District 3 (Cottage Villas) Back2round/Discussion Discussing the use of the Cottage Villas TIF District fund balance was included in the 2013 EDA work plan for October 2013 and January 2014. By way of background information on TIF 3, attached is part of an early 2012 TIF summary memo (prepared by Sue Iverson) that went to the City Council. This information is still relevant and the current status of the fund balance is included in the budget material that is in this agenda packet. The projected fluid balance at die end of 2013 is $250,954. The fund balance has been increasuig by about $40,000 per year. I would like to defer discussion on the District until 2014. In 2014, staff will be working with Ehlers to help analyze this District and how the Raids can be spent. There is no urgency to snake a decision on how these fluids should best be used as the District does not expire until 2019. The ma.iil restriction on the use of these fields is that they need to be spent on qualified low and moderate income housing projects. Also, it should be noted that receiving future fields depends on the current owners of Cottage Villas continuing to comply with the low and moderate income housing requirements.