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Home My WebLink About1994/02/07 - ADMIN - Agenda Packets - Economic Development Authority - RegularAGEND A ECONOMIC DEVELOPMENT AUTHORITY ST. LOUIS PARK, MINNE SOTA Monday, February 7, 1994 7:00 p.m. 1. Call to order 2. Roll call 3. Approval of minutes of January 18, 1994 meeting 4. Approval of agenda for February 7. 1994 5. Reports a. Bid Tabulation - Site Improvements at Tower Place Bids will be received on February 7th for the removal of demolition debris and soils from approximately the sourtherly half of the Tower Place site. Since bids will not be opened until February 7th, results will be provided at the meeting. Action: Motion to adopt resolution {Resolu tion will accompany the report to be distributed on Monday night) ) 6. 7. Unfinished business New business a. Change Order No. 2 - Tower Place Parking Ramp A total of 20 items with 11 deductions, eight (8) additions and one (1) no cost item has reduced this project cost. Motion to adopt resolution 8. 9 . Action : Other business Communications and bills a. December 1993 financial statement Action: Motion to receive for filing b. January 1994 financial statement Action: Motion to receive for filing c. Vendor claims Action: Motion to approve and authorize paym ent 10. Adjournment REQUEST- FOR EDA ACTION DATE February 7, 1994 ____ ...;;..____;_ _ AGENDA SECTION: Reports NO. 5 ORIGINATING DEPARTMENT: ITEM: NO. 5a Bid Award - Site Improvements at Tower Place APPROVED: ,, N. G b Ap\\ ames . rule\_" Director of Public Works On January 18, 1994 the Economic Development Authority (EDA) authorized staff to take bids for the removal of demolition debris and soils from approximately the southerly half of the Tower Place site. In order to comply with the City Charter and State Statutes regarding timing between the publishing of an advertisement for bids and a bid opening, bids cannot be received before February 7, 1994. The results of the bid opening will be provided to the EDA at it's February 7, 1994 meeting. cmr PUBLIC WORKS APO·OVAL ' le '/ COUNCIL ACTION: MOTION BY 2ND BY TO ---------- ---------- ----- APPROVAL OBTAINED APPROVAL OBTAINED APPROVAL OBTAINED Executive Director APPROVAL 7,07.. osTus //] REQUEST- FOR EDA ACTION ./ DATE ---------- February 7, 1994 AGENDA SECTION: New Business NO. 7 ORIGINATING DEPARTMENT: Admi nistration ITEM: Change Order No. 2 - Tower Place Parking Ramp NO. 7a APPROVED: fk./ Robert J. Larson ["Ve? Assistant to the City Manager ) 4 Background: The Tower Place parking ramp has been under construction since October 1993. With this report, the Construction Manager, Kraus-Anderson, is requesting formal approval by the Economic Development Authority (EDA) of Change Order No. 2 for the project which includes 20 items with a total net reduction of $136,437 representing 11 deductions, eight (8) additions and one (1) no cost item. Discussion: Beginning on October 14, 1993 members of the project team have been meeting to discuss means and methods whereby the total project cost may be reduced. This process is commonly referred to as value engineering and it involves changing the construction method and/or the construction materials from the original specifications. These changes do not compromise the structural integrity of the parking ramp or its exterior finishes. Attached is Change Order No. 2 with the 20 items. Further details on these items are described in the attached narrative from Kraus-Anderson's Construction Manager. Recommendation: It is recommended the Economic Development Authority adopt the attached resolution approving Change Order No. 2 in the amount of $136,437 to Contract EDA 8-93 with Adolfson & Peterson for construction of the Tower Place parking ramp. RL/sjk Attachments Staff Note: A representative from the construction manager, Kraus-Anderson, is scheduled to attend tonight's meeting to address any questions about this project. PUBLIC WORKS APPROVAL [AINED FINANCE APPROVAL OBTAINED COMMUNITY UVtELUH. APPROVAL OBTAINED APPROVAL OBTAINED MANAGER'S~ APPROVAL OBTAINED COUNCIL ACTION: MOTION BY 2ND BY TO ----------- ----------- ------ RESOLUT ION RESOLUT ION PERTAINING TO CHAN GE ORD ER NO. 2 FOR EDA PROJECT NO. 8-93 WH EREAS, the Economic Development Authority entered into Contract 8-93 with Adolfson & Peterson, Inc. for the construction of the Tower Place parking ramp; and WH EREAS, the Economic Development Authority has determined that certain modifications be made to the contract to facilitate the construction of the project, said modifications being as follows: 11 deductions, eight additions and one no cost item to the project as described in attached Change Order No. 2 narrative ) WH EREAS, the contractor, Adolfson & Peterson, Inc. has agreed to the prices for the modifications noted above, NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of St. Louis Park, MN that the above modifications to Contract 8-93 are approved; and BE IT FUR THER RESOLVE D by the Economic Development Authority of the City of St. Louis Park, MN that the reduction of $136,437 is accepted for the project. Adopted by the Economic Development Authority February 7, 1994 President Executive Director C H A N G E O R D E R (SEE NARRATIVE ATT ACHED) Distribution to: ER X CO NTRA CT OR X HGA X KA FIELD X KRA US -AND ERSON X JOH N DEC OSTE R X PROJ EC T: Park Nicollet Tower Place Park ing Ramp \ (nam e, address) 5000 W est 39th Street St. Louis Park , MN 55416 TO (C ontractor): Adolfson & Peterson, Inc. 6701 W est 23rd Street M inneapolis, M N 55426 CHANGE ORDER NUMBER: TW O (2) INITIATIO N DATE: 1/31/94 ARCHITECTS PROJ ECT NO: 868.03 0.06 CON STR UCTIO N MAN AGER 'S PROJ ECT NO : 4185 You are direct ed to m ake the fo llowing changes in this Contract : 1. Foundation and elev. chan ges per RFP #1. 2. Petco panel substitution. 3. Change radiation pa nels. 4. Change asphalt in lower level from 4" to 3". 5. Delete shunt trip. 6. RFP's #2 and #6, ASI #2 - Sanitary and Storm Sewer. 7. Rem ove and reinstall cover. 8. M ethane venting system ; precast bearing at stair elevator per RFP #3R. 9. Miscellaneous revisions to pile cap and stairs due to revised grading per RFP #4. 10 . Revise grade beam per details 25/3-2, 26/302 due to pipe invert elev. conflict. 11. Revise floor slope, Skyw ay B elevator and door swing per RFP #5. No Co st 12 . Delete traction elevator. DEDUCT: (82,855.00) 13 . Substitute fan co il for base board radiation. DEDUCT: (8,179.00) 14 . Elevator equipm ent room - substitute fan coil for room mounted exhaust fan. DEDUCT: (2,109.00) 15 . Substitute stand alone system fo r Barber Colem an 8000. DEDUCT: (10,526.00) 16 . Add sm oke exhaust system to skyways. ADD: 6,243.00 17 . Provide Zurn Z2-610-DG FD for Neenah. ADD: 1,848.00 18 . Connect four AD-2 drains to the storm sewer system in lieu of flam m able system . DEDUCT: (8,900.00) 19 . Revise HV AC and plumbing plans to show chan ges. ADD: 2,346.00 20. Addition erro r on Chan e Order #1. DEDUCT: 40.00 gllNNNdof] TOTAL DEDUCT CHANGE ORDER NUMBER TWO (2): DEDUCT: ($136,437.00) CO NTRA CT FO R: G eneral Constru ction CO NTRACT DATE: Oc tobe r 5, 1993 DEDUCT : ($29,703.00) DEDUCT: (13,819.00) DEDUCT: (9,158.00) DEDUCT: (7,130.00) DEDUCT: (338.00) ADD: 5,182.00 ADD: 4,275.00 ADD: 14,084.00 ADD: 1,510.00 ADD: 832.00 Not valid until signed by the Ow ner, the Architect (HGA) and the Construction Manager (Kraus-Anderson Construction Company). Sig nature of the Contract or indicates agre em ent here w ith, incl uding any adjust m ent in the. Co ntra ct. Sum or the. Co ntra ct. Tim e Th e original Contract Sum was Net change by previously authorized Chan ge Orders The Contract Sum prior to this Change Order was The Co ntract Sum will be {increased) (decreased) (unc hang ed) by this Change Order The new Contract Sum including this Change O rder will be The Contract Ti m e will be {inere as ed) {decreas ed) (unchanged) by The Date of Substantial Com pletion as of the date of this Change Order therefore is June 3, 1994. Recom m ended By Construction M anager: Approved By Re-Developer: KRA US-ANDERSO N CO NSTR UCTIO N COMPANY PAR K NICOLLET MEDICAL CENTE R HOLD INGS 525 South Eighth Street, M inneapolis, M N 55404 5000 W est 39th Street, St. Louis Park, MN 55416 $ $ $ $ 4,263,000.00 (129,044.00) 4,133,996.00 (136,437.00) 3,997,559.00 (a ) Days BY Donald D. Hackert, Vice President DATE BY Joseph Mitlyng, Vice President DATE Agreed To By Contract or: ADO LF SO N & PET ERSO N, INC. 6701 W est 23rd Street, M inneapolis, M N 55426 BY John Palm quist, Vice President Approved By Architect: \ H AM M EL, G REEN & ABRAHAM SON, INC. 1201 Harm on Place, Minneapolis, MN 55403 Authorized By Owner: ECON OM IC DEVELOPMENT AUTH ORITY CITY OF ST. LOU IS PARK 5005 Minnetonka Boulevard. St. Louis Park, MN 55416 DATE sy Lyle W. Hanks, President DATE BY Charles W . M eyer, Executive Director DATE BY Gary Nyberg, Vice President DATE NARRA TIVE CHAN GE ORD ER #2 PARK NI COLLE T MED ICAL CE NT ER TOWER PLA CE PARKIN G RAMP January 31, 1994 ) l. Foundation & Elevation Changes <$29,703.00> Hammel, Green & Abrahamson issued revised drawings based upon updated pile capacities resulting in the reduced quantity of concrete pile caps and the change in sizes of various concrete pile caps. This resulted in a deduct of six forms for footings and pile caps and a reduction of 182 cy of concrete. 2. Pefco Panel Substitution <$13,819.00> This change represents the deletion of an aluminum laminated panel as specified for a galvanized panel which has been approved by the Architect. Along with the addition of the galvanized panel, we have added drywall sheeting to complete this system. 3. Change Radiation Panels <$9,158.00> This change represents the deduction of a sheetrnetal fabricated custom radiation panel for a standard type radiation panel. The mechanical contractor will now install 294 If of Rittling or equal fintube radiation enclosure. The concrete contractor will install the backers required for the anchoring of these panels. 4. Change Asphalt in Lower Level Parking From 4" Thick to 3" Thick <$7,130.00> This change reflects revising the asphalt sections in the lower level parking area from a 4" class 5 and a 4" paving to a 6" class 5 and a 3" paving that can be installed in one lift. 5. Delete Shunt Trip <$338.00> This change represents the deletion of a 60 amp 3-pole 480V shunt trip circuit breaker for the elevators, along with the EMT conduit, copper tubing and fire alarm supplies by the electrical contractor, Meyer Electric. 6. Excavator's Modifications For RFP #2, RFP #6 and ASI #1 $5,182.00 All items issued by the Architect refer to the storm drainage and sanitary sewer system modifications. These modifications are shown on the revised drawings C1.1, C3.1, C3.5 and C4.1A. Drawing Cl.l adds sanitary sewer line, it removes one sanitary manhole, it removes storm sewer pipe and an existing manhole. All these items in the 39th Street right-of-way. Drawing C3.l adds a sanitary manhole Al near SE comer of parking ramp, adds approximately 330 lf of 12" Dutile iron pipe for the sanitary sewer on the south side of the parking ramp between the existing sanitary manhole west of ramp to new sanitary manhole Al. It revises the location of the storm sewer manhole #l, it revises the 10" Dutile iron pipe between catch basin #2 and manhole #l, it revises the 12" reinforced concrete storm sewer pipe between manhole #l and catch basin #3, and it adds a wet tap for the 12" Dutile iron pipe stub-out at the west end. Architect's Supplementary Instructions #2 adds approximately one foot of height to catch basin #3. PAGE 1 OF4 P ark N ico ll et M ed ical C en ter - T ow er Ra m p N arra ti ve C h an g e O rd er #2 Jan u ary 31, 19 9 4 7 . Remove & Reinstall Cover $4,275.00 This item submitted by the excavator is for removing and reinstalling cover to build site to plan grade. This allows for a more level supportive type surface for the piling operation. The excavator will strip and stockpile cover material from the site, he will build north end with contaminated material from the south end cut as per grades on sheets C4.1 and then cover the contaminated material that has been exposed from the excavation operation with the material previously stripped and stockpiled. 8. Methane Venting System and Precast Bearing at Stair and Elevator - REP #SR $14,084.00 This change, RFP #3R issued by Hammel, Green & Abrahamon, adds a new spec section to the excavator's scope of work. This spec section, 02770 - membrane liner - requires the furnishing and installing of a geomembrane liner 60 mil thick between the asphalt on grade and the venting aggregate layer. Further, it includes the revised foundation walls where the precast bears on the stair and elevator tower from elevation 195' to elevation 196'-8". 9. Miscellaneous Revisions to Pile Cap &: Stairs Due to Revised Grading Plan-RFP #4 $1,510.00 This change includes the following: Stair PC has been revised per detail D/ A201P-R. The handrail and guardrail for Stair PB has been revised per detail 8/3-6A. The handrails for concrete Stair PB and PC have been revised per detail 3R/3-6A. The foundation wall for the precast has been revised in elevation. The rail on top of the low wall at elevation 201 has been deleted. Pile caps at grids B2, C2 and D2 have been revised from type 2B to type 2A. Additional details have been added showing the 7 battered toe piles along grid 8.6 and 3 heel piles also at grid 8.6. The top of pile cap elevation for columns C4, C5, C6 and C7 have been revised and there have been various elevation or dimensional clarifications. 10. Revised Grade Beam Per Details 25/C-2, 26/302 Due to Pipe Invert Elevation Conflict - RFI #1 $832.00 Due to a pipe concrete footing conflict, the Architect issued directions to modify the footing which increased the forming, the concrete and the rebar requirements. 11. Revise Floor Slope Skyway B Elevation &: Door Swing -RFP #5 No Cost Change RFP #5 issued shows miscellaneous changes and issued two drawings A202P and A203P which effect the floor slope, the elevation for skyway B and a door swing, which is reversed. 12. Delete Traction Elevator In Its Entirety <$82,855.00> This change reflects the Owner's desire to delete the traction elevator in its entirety, less a previous value engineering change order. The Owner, in lieu of the traction elevator, will install a hydraulic elevator under a separate contract. The net savings· to the Project will be approximately $30,000.00. PAGE 2 OF 4 Park N icollet M edi cal C enter - T ow er R am p N arr ative C hange O rder #2 Jan uary 31, 1994 ) 13. Substitute Fan Coil For Baseboard Radiation <$8,179.00> This change reflects a deletion in the hot water baseboard radiation in the ramp walkway room 205P. Additional heat would be added to this area by installing two row hot water coils in lieu of one row of fan coil units 3, 4 and 5. In addition, supply registers would be installed in the exterior soffit over the windows in lieu of the existing ceiling diffusers. 14. Elevator Equipment Room Substitute Fan Coil For Room Mounted Exhaust Fan <$2,109.00> This change reflects the deletion of fan coil unit #9 in elevator equipment room 104P. This change is possible because of the heat gain from the elevator equipment, which is considerably less than that which was anticipated during the design phase. The fan coil unit would be replaced with the roof mounted exhaust fan and a wall mounted outside air intake louver with motorized damper and intake filter. A 5KW electric unit heater would be installed for wintertime heat. Offsetting costs by the electrical contractor of $859.00 is included in the overall deduct, which covers the electrical hook- ups. 15. Substitute Stand-Alone System For Automatic Barber-Coleman 8000 <$10,526.00> This change includes the deletion of the Barber-Coleman System 8000 Automatic Control System from the fan coil units and baseboard radiation. This control system would be replaced by a Barber-Coleman, Honeywell or equal system of stand-alone controls which would operate each unit independently. 16. Add Smoke Exhaust System to Skyways $6,243.00 This change includes the furnishing and installation of a smoke exhaust system to skyways A and B. Each system would ventilate the skyway at a rate of four air changes per hour and be comprised of an exhaust fan, gravity air intake, ceiling mounted smoke detector, fan coil unit interlock and supply exhaust grilles with the necessary ductwork. Electrically it would include the hook-up of a 1/2 HP exhaust fan in skyway A and skyway B. 17. Provide Zurn Z-610-DG Floor Drain For Neenah Specified $1,848.00 This change includes the furnishing of the Zurn Model Z-610-DG floor drain with a 36" rubberoid membrane in lieu of the Neenah drain specified. As they age, many of the existing parking ramps have a tendency to allow moisture to sweep through the floors. This usually occurs at the drains. This has resulted in some lime leakage through the concrete which would damage paint on vehicles parked below. The drain with the 36" rubberoid membrane will hopefully prevent this problem. 18. Connect Four AD-2 Drains to the Storm Sewer System in Lieu of Flammable System <$8,900.00> This change reflects the furnishing and connection of four AD-2 drains to the storm sewer system in lieu of the flammable system as shown. This also includes the omission of the flammable catch basin and related piping. PAGE3 OF4 P ark N ico ll et M ed ical C en ter - T ow er Ra m p N arr ative C h an g e O rd er #2 Jan u ary 31, 19 9 4 19 . Revise HVAC and Plumbing Plans to Show Changes $2,346.00 This change include the mechanical contractor's engineering and drafting time to revise the HVAC and plumbing plans, along with the specifications to reflect the changes noted above. This work will be done by Fonder-Kendle Associates. Also included are the prime contractors' costs and markups. 20. Corrects an Addition Error in Change Order #1 <$40.00> > PAGE 4 OF 4 February 7, 1994 EDA TO: Economic Development Authority THROUGH: Charlie Meyer, Executive Director (A7r FROM: Mac McBride, Finance Director X [l? Don Rambow, Asst. Finance Director SUBJECT: December 1993 EDA Monthly Statement ) The Combining Statement of Revenue and Expenditures, the Individual Statement of Revenue and Expenditures and the Schedule of Investments provides in summary form the financial position of the EDA. Revenue co 11 ections reflect the December tax increment sett 1 ement received from Hennepin County, receipt of excess funds from the closed Oak Park Village Debt Service Fund and interest received on investments which matured during December. Significant expenditures reflect construction associated with the Park Nicollet parking ramp project, legal fees for October through December and land write down costs associated with the Suburban Plumbing project. St. Louis Park Economic Development Authority Combining Statement of Revenue and Expenditures Budget and Actual 1) For Period Ending December 31, 1993 J YTD Balance Percent Collected/ Uncollec./ Collected/ Budget Expended Unexpend. Expended Revenue -------- --------- --------- --------- ------- Tax increment $3,100,739 $3,100,739 100% Rent 4,680 4,680 100 Interest 937,117 1,060,246 (123,129) 113 Transfers 876,757 1,380, 757 (504,000) 157 Refunds & Reimburse 248,333 248,873 (540) 100 --------- --------- --------- Total Revenue 5,167,626 5,795,295 (627,669) 112 --------- --------- --------- Expenditures ------------ Administrative Salaries 82,060 86,295 (4,235) 105 Employee benefits 16,773 17,599 (826) 105 Supplies & other chgs. 4,500 4,729 (229) 105 Legal 3,487 9,025 (5,538) 259 Contractual 1,200 5,463 (4,263) 455 Planning 44,985 46,642 (1,657) 104 --------- --------- --------- ) Total Administrative 153,005 169,753 (16,748) 111 --------- --------- --------- Project Cost Appraisal/survey 2,500 2,500 Legal 158,282 248,921 (90,639) 157 Environ. analysis 122,726 167,535 (44,809) 137 Public improvement 2,269,878 2,512,705 (242,827) 111 Relocation/demolition 101,533 103,586 (2,053) 102 Property acquisition 804,948 867,178 (62,230) 108 Environ. remediation Referendum payment 311,262 (311 ,262) Property Maintenance 28,257 22,453 5,804 79 Other services 4,065 16,492 (12,427) 406 Transfers ---------- --------- ---------- Total Project Costs 3,492,189 4,250,132 (757,943) 122 ---------- --------- ---------- Debt Service Bond interest 504,000 504,000 100 Transfer 504,000 (504,000) Inter-govt., City 620,000 620,000 100 Bond agent fees --------- --------- --------- Total Debt Service 1,124,000 1,628,000 (504,000) 145 ---------- --------- ---------- Total Expenditures 4,769,194 6,047,885 (1,278,691) 127 /Revenue over (under) ---------- --------- ---------- Expenditures 398,432 (252,590) 651,022 (63) --------- --------- --------- --- St. Louis Park Economic Development Authority Individual Statement Of Revenue And Expenditures For Period Ending December 31, 1993 < Excelsior Oak Park Trunk Capital Debt Revenue Blvd Vil 1 age Hwy 7 Projects Service Total ------- --------- -------- ------- -------- ------- ------- Tax increment $2,020,335 $397,104 $683,300 $ $ $3,100,739 Rent 4,680 4,680 Interest 671,087 74,156 60,248 220,541 34,214 1,060,246 Transfers 876,757 504,000 1,380,757 Refund/reimburse 248,873 248,873 --------- ------- ------- ------- ------- --------- Total Revenue 2,940,295 1,352,697 743,548 220,541 538,214 5,795,295 --------- ------- ------- ------- ------- --------- Expenditures ------------ Administrative Salaries 32,658 18,293 35,344 86,295 Employee benefits 6,117 3,588 7,894 17,599 Supplies & other chgs. 2,265 1,108 1,356 4,729 Legal 5,914 1,556 1,555 9,025 Contractual 3,060 650 1,753 5,463 Planning 46,642 46,642 --------- ------- ------- ------- ------- --------- Total Administrative 96,656 25,195 47,902 169,753 --------- ------- ------- ------- ------- --------- Project Cost Appraisal/survey Legal 235,693 13,228 248,921 Environ. analysis 158,141 9,394 167,535 Public improvement 613,828 1,898,877 2,512,705 Relocation/demolition 98,641 4,945 103,586 Property tax Acquisition 80,148 787,030 867,178 Referendum payment 260,731 50,531 311,262 Property maintenance 6,209 12,494 3,750 22,453 Other services 10,824 5,668 16,492 --------- ------- --------- ------- ------- --------- Total Project Costs 1,464,215 63,025 2,722,892 4,250,132 --------- ------- --------- ------- ------- --------- Debt Service Bond interest 504,000 504,000 Transfer 504,000 504,000 Inter-govt., City 620,000 620,000 Bond agent fees --------- ------- --------- ------- ------- --------- Total Debt Service 1,124,000 504,000 1,628,000 --------- ------- --------- ------- ------- --------- Total Expenditures 2,684,871 88,220 2,770,794 504,000 6,047,885 --------- ------- --------- ------- ------- --------- J evenue over (under) Expenditures 255,424 1,264,477 (2,027,246) 220,541 34,214 (252,590) --------- ======= --------- ======= ======= --------- --------- .I < I ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY SCHEDULE OF INVESTMENTS December 31, 1993 Date Investments -------------------- Institution/Type Yield Purchase Maturity Balance ---------------- -------- -------- ------- Park Investment - C.P. 3.47 06-10-93 01-10-94 $1,176,010 Park Investment - FNMA 4.08 07-10-92 01-10-94 955,000 Paine Webber - FHL 3.53 09-10-92 01-25-94 800,000 Dain Bosworth-Treas. 3.42 09-10-92 01-31-94 390,000 Park National - C.D. 3.75 02-02-93 01-31-94 500,000 1st Banks - FHL 3.92 08-10-92 02-25-94 460,000 1st Banks - FHL 4.30 12-01-92 02-25-94 1,040,000 1st Banks - FHL 5.35 02-28-91 02-28-94 500,000 1st Banks - FC 5.80 04-01-92 04-04-94 1,000,000 Dain Bosworth - Treas. 3.75 10-13-92 04-15-94 1,000,000 1st Banks - Treas. 4.18 11-02-92 04-30-94 1,050,000 Dain Bosworth - Treas. 4.09 12-28-92 04-30-94 650,000 ) Dain Bosworth - FNMA 4.25 12-28-92 05-22-94 518,551 Park National - C.D. 3.50 03-01-93 05-22-94 1,000,000 ) Dain Bosworth - Treas. 3.61 03-31-93 07-31-94 1,000,000 Park National - C.D. 3.55 04-30-93 09-07-94 1,250,000 1st Banks - C.P. 3.44 12-30-93 09-26-94 341,206 1st Banks - Treas. 3.57 07-07-93 09-30-94 1,000,000 Park Investment - Treas. 3.49 10-01-93 11 -15-94 1,020,007 Dain Bosworth - Treas. 3.61 11-15-93 11-30-94 1,512,625 Dain Bosworth - Treas. 3.65 11-15-93 12-31-94 1,004,844 Dain Bosworth - FHL 3.59 10-25-93 01-25-95 1,554,187 1st Banks - FNMA 3.90 12-01-93 03-10-95 2,431,913 1st Banks - FC 3.90 12-02-93 04-03-95 729,626 1st Banks - FHL 3.84 09-20-93 09-20-95 1,000,000 4M Fund Various Open 614,676 ---------- Total Investments 24,498,645 ---------- \ ,J Legend: C.D. = Certificate of Deposit C.P. = Commercial Paper F.C. = Farm Credit F.N.M.A. = Federal National Mortgage Assn. F.H.L.B. = Federal Home Loan Bank Treas.= U.S. Treasury Bonds Gov't Agencies = Term U.S. Government Securities F e b ru a ry 7 , 19 9 4 EDA TO: THROUGH: FROM: SUBJECT: Economic Development Authority Charlie Meyer, Executive Director uft'Jfl Mac McBride, Finance Directo~o Don Rambow, Asst. Finance Director January 1994 EDA Monthly Statement The Combining Statement of Revenue and Expenditures, the Individual Statement of Revenue and Expenditures and the Schedule of Investments provides in summary form the financial position of the EDA at the end of the first month of the 1994 fiscal year. There were no expenditures during the month of January. Revenue received included interest on investments and a $50,000 payment from SPS Plumbing in reimbursement for legal fees paid by the City on their behalf. ) ? Revenue St. Louis Park Economic Development Authority Combining Statement of Revenue and Expenditures Budget and Actual For Period Ending January 31, 1994 YTD Balance Percent Collected/ Uncollec./ Collected/ Budget Expended Unexpend. Expended Tax increment Rent Interest Transfers Refunds & Reimburse Total Revenue Expenditures Administrative Salaries Employee benefits Supplies & other chgs. Legal Contractual Planning Total Administrative Project Cost Professional service Legal Environ. analysis Public improvement Relocation/demolition Property acquisition Environ. remediation Referendum payment Property Maintenance Other services Transfers Total Project Costs Debt Service Bond interest Transfer Inter-govt., City Bond agent fees Total Debt Service Total Expenditures Revenue over (under) Expenditures $3,100,740 $ 4,680 639,005 3,744,425 $3,100,740 390 4,290 139,652 499,353 50,000 8 22 (50,000) 190,042 3,554,383 5 84,520 84,520 17,278 17,278 4,647 4,647 3,560 3,560 --------- --------- --------- 110,005 110,005 --------- --------- --------- 108,200 108, 200 75,000 75,000 2,000 2,000 7,392,000 7,392,000 692,500 692,500 824,800 824,800 \ 22,860 22,860 8,000 8,000 ---------- --------- ---------- 9,125,360 9,125,360 ---------- --------- ---------- 504,000 504,000 840,000 840,000 --------- --------- --------- 1,344,000 1,344,000 ---------- --------- ---------- 10,579,365 10,579,365 ---------- --------- ---------- (6,834,940) 190,042 (7,024,982) (3) --------- --------- --------- === --------- St. Louis Park Economic Development Authority Indiv id ual Statement Of Revenue And Expenditures For Period Ending January 31, 1994 Revenue Tax in crement Rent Interest Transfers Refu nd/reim burse Total Revenue Expend it ures Adm in istrativ e Sala rie s Employ ee benefit s Supplie s & other chgs. Legal Contractual Pla nning Total Adm in istrative ) Project Cost J Apprais al/survey Legal Envir on . analy sis Public im provement Relo catio n/demolit io n Property tax Acquis it io n Referendum payment Property main tenance Other servic es Total Project Costs Debt Servic e Bond in terest Transfer Inter-govt ., City Bond agent fees Total Debt Servic e Total Expend it ures R evenue over (under) J' Expend it ures Excels io r Oak Park Blv d Village $ $ $ $ 390 91,737 10 ,7 25 2,5 98 30 ,151 50 ,0 00 91,737 11 ,11 5 91,737 ========= Trunk Hwy 7 52,5 98 11,115 52,5 98 ======= ========= Capit al Project s 30 ,151 30 ,151 ======= Debt Servic e Total $ $ 390 4,4 41 139,6 52 50,0 00 4,4 41 190,042 4,4 41 190,042 ======= ========= ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY SCHEDULE OF INVESTMENTS January 31, 1994 Date Investments -------------------- Institution/Type Yield Purchase Maturity Balance ---------------- -------- -------- ------- 1st Banks - FHL 3.92 08-10-92 02-25-94 $460,000 1st Banks - FHL 4.30 12-01-92 02-25-94 1,040,000 1st Banks - FHL 5.35 02-28-91 02-28-94 500,000 1st Banks - FC 5.80 04-01-92 04-04-94 1,000,000 Dain Bosworth - Treas. 3.75 10-13-92 04-15-94 1,000,000 1st Banks - Treas. 4.18 11-02-92 04-30-94 1,050,000 Dain Bosworth - Treas. 4.09 12-28-92 04-30-94 650,000 Dain Bosworth - FNMA 4.25 12-28-92 05-22-94 518,551 Park National - C.D. 3.50 03-01-93 05-22-94 1,000,000 Dain Bosworth - Treas. 3.61 03-31-93 07-31-94 1,000,000 Park National - C.D. 3.55 04-30-93 09-07-94 1,250,000 1st Banks - c.P. 3.44 12-30-93 09-26-94 341,206 1st Banks - Treas. 3.57 07-07-93 09-30-94 1,000,000 Park Investment - Treas. 3.49 10-01-93 11-15-94 1,020,007 Dain Bosworth - Treas. 3.61 11-15-93 11-30-94 1,512,625 Dain Bosworth - Treas. 3.65 11-15-93 12-31-94 1,004,844 Dain Bosworth- FHL 3.59 10-25-93 01-25-95 1,513,312 1st Banks - FNMA 3.90 12-01-93 03-10-95 2,431,913 1st Banks - FC 3.90 12-02-93 04-03-95 729,626 Park Investment - Treas. 3.25 01-10-94 04-30-95 1,513,744 1st Banks - Treas. 3.65 01-31-94 04-30-95 1,518,756 1st Banks - FHL 3.84 09-20-93 09-20-95 1,000,000 4M Fund Various Open 1,068,676 ---------- Total Investments $24,123,260 ---------- Legend: C.D. = Certificate of Deposit C.P. = Commercial Paper F.C. = Farm Credit F.N.M.A. = Federal National Mortgage Assn. F.H.L.B. = Federal Home Loan Bank Treas.= U.S. Treasury Bonds Gov't Agencies = Term U.S. Government Securities V E N D O R C L A I M S E c o n o m i c D e v e l o p m e n t A u t h o r i t y -S t . L o u i s P a r k F e b r u a r y 7 , 1 9 9 4 V e n d o r A d o l f s o n & Peterson, Inc. Braun Intertec Corporation EDAM First Trust National Assoc. Frontier Foundations, Inc. Kraus-Anderson Construction Co. Laden's Business Machines, Inc. Moody's Investors Service Popham, Haik, Schnobrich STS Consultants, Ltd. Description Park Nicollet Ramp Services Registration fee Bonds & interest Park Nicollet Ramp Park Nicollet Ramp Services Professional services Legal services-November Professional services Amount $ 450,567.85 269.60 45.00 852,000.00 345,248.00 54,420.58 146.44 5,000.00 3,434.35 1,527.35 TOTAL ) Accounting Dept. ). //g2MA_ Executive Direct~ ,b fr $1,712,659.17 oesa>/ls/] o»he .c 323g % P O PHA M, HA IK, SCHNOBRICH AND KAUFMAN November 1993 r') I CLIENT/MATTER TIME FEES EXPENSES 11959 ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY 4 Meetings 0.9 $108.67 5 On the Avenue Project 6 $688.50 $10.34 13 Suburban Plumbing Project 3 $317.50 14 Park Nicollet Project 13.3 $2,207.50 $89.00 18 Park Nicollet Redevelopment-Reimb Fees $12.84 TOTALS 23.2 $3,322.17 $112.18 2