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HomeMy WebLinkAbout1994/12/05 - ADMIN - Agenda Packets - Economic Development Authority - RegularAGENDA ECONOM IC DEVE LOPM ENT AUTHORI TY ST. LOUIS PARK , M IN NESOTA M onday, December 5, 1994 7:00 p.m. 1. CALL TO ORDER 2. ROLL CALL 3. APPROVAL OF MINUTES a. Minutes of the November 7, 1994 meeting Action: Motion to approve - Motion to approve as amended 4. APPROVAL OF AGENDA a. Agenda for December 5, 1994 Action: Motion to approve - Motion to add/delete item(s) ) 5. REPORTS a. Approval ofDSU contract addendum for Streetscape design services b. Approval of construction plans for fourth retail building: Tower Place c. 1995 EDA budget 6. OTHER BUSINESS 7. COMMUNICATIONS AND BILLS a. Vendor claims b. Monthly financial statement 8. ADJOURNMENT \ R E Q U E S T F O R E D A A C T I O N DATE Decemb er 5, 1994 AGENDA SECTION: NO. 5 ORIGINATING DEPARTMENT: Community Development ITEM: NO. 5 Approval of DSU Contract Addend for Streetscape Design Services APPROVED: David Hagen BACKGROUND At the study session on November 14, Geoff Martin of Dahlgren, Shardlow and Uban, reviewed. the Excelsior Boulevard streetscape plan including detailed design elements with the EDA. A phasing schedule was reviewed indicating that Phase II of the streetscape improvement project on Park Center Boulevard, West 36th Street and Monterey Drive between Byerly's and Excelsior Boulevard, as well as completion of Phase I along Excelsior Boulevard and Park Nicollet Boulevard adjacent to the Park Nicollet-Frauenshuh development are scheduled for 1995. The estimated construction cost for Phase II is $550,000. The EDA has a contract with DSU for streetscape master planning for the entire corridor as well as for preparation of construction documents for Phase I. Being proposed at this time is an addendum to ) the contract for services relating to construction document preparation and bidding out of Phase I which in effect incorporates Phase II. As in Phase I, Strgar, Roscoe, Fausch, Inc. is responsible for civil and electrical engineering under the contract addendum. The total cost for services for Phase II construction document preparation is not to exceed $58,000. RECOMMENDATION By motion approve the proposed contract addendum and authorize the President and Executive Director to execute. 5444:GEN48 APPROVAL A INED OBTAINED COMM APPROVAL OBTAINED APPROVAL OBTAINED Executive Director APPROVAL OBTAINED ACTION: MOTION BY 2NDBY TO ----------- ----------- ------ R EQ UEST FOR EDA ACTION DATE December. 5 1994 I AGENDA SECTION: NO. ORIGINATING DEPARTMENT: Comm unity Development ITEM: NO. Approval of Construction Plans for Fourth Retail Building APPROVED: Davil Haren BACKGROUND ) According to the contract for private redevelopment with Frauenshuh Companies, constru ction plans for the various project elements are subject to approval by the EDA. Being requested by Frauenshuh Companies at this time is approval of the plans for the fourth retail building. Previously plans for the sit-down restaurant, fast food restaurant and retail cinema building were approved. ' Attached are copies of the construction plans for this retail building. The building is proposed to be moved nort h approximately 20 feet from an earlier site plan that was approved and attached is a copy of this modified site plan. Also attached are grading and surfacing, planting and site utility plans for the fourth building. The building meets the City's architectural control ordinance and is in general conformance with the architectural and landscaping standards of the plans for the other buildings. RECOMMENDATION It is recommended that the attached constru ction plans for the fourth retail building be approved. 5471:GEN5O PUBLIC WORKS APPROVAL ·TAINED FINANCE APPROVAL OBTAINED COMMUN1 I Y DUE VtLUH. J APPROVAL f/, OBTAINED /Vl] APPROVAL OBTAINED Executive Director APPROVAL /7 ,.. OBTAINED CAA/HR ACTION: MOTION 8Y 2NDBY TO ----------- ----------- ------ \ \ CCONTRO JOINT P.,• ------ K ·iOLAA : 6] i ! t$ 4r5 '9 233.9g4 ) isisa PVC2g PANTED> Pw@S - CAAL SY®OLAT EAC» DOS0oATEDO ADC.A ASCUMS STALL 3 AINTEED> DOIDAESL.MD> SYM ECO L 2a «Sr«2ED>£0.2JDS ARE Iii"X CA&Ac rES AND OD2OR ON A +e re> t2"x.I «0ND CA PA< gM A$ $9-ON .NSTAL Ee ze sa-so&saw-aa VAS CS9EA..I" S- '' "«VT2g!NY" CONCA"CON j 3saARE £or H ~~S,T,1,"0Nt:) [[ -userror AD o«Aveer O4 o j 4 OST 2-cs- sr+res &-a E. 2° A0VE 3«A£ TO €0e 4wAf 0..T 5YPEe« .EV!To 2-4069C26° AACCO © i © ® © © © TO'- i tea --+- 24'=0 ! 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LAS PR, N '] wetg 3%, wt4 '] re _ ... 7 Summary of Changes in Legal Fees: Revised Estimate for 1994 $ 26,970 Increase Increase due primarily to litigation costs associated with the Excelsior Blvd. district (Wilkins case) Proposed for 1995 $ (2,000) Decrease Revised projection for Trunk Highway 7 administrative legal fees NET IMPACT of Combined fund balance at 12/31/95 $ (24,970) ) Combined 4 12/5/94 9:53 AM 5 Tax Increment District - 1995 Proposed Budget District Name: Combined Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 23,363,824 $ 23,076,922 $ 23,076,922 $ 17,625,904 Revenues: Tax Increments $ 3,039,583 $ 3,100,739 $ 2,937,541 $ 4,238,915 Del. Tax Increments Subtotal 3,039,583 3,100,739 2,937,541 4,238,915 Interest Income 1,088,877 639,006 791,504 453,514 Rents Miscellaneous 253,553 4,680 274,204 4,680 Total Revenues 4,382,013 3,744,425 4,003,249 4,697,109 Expenditures - Administrative: Personal Service 103,895 101,798 101,798 196,458 Supplies, etc. 8,288 4,646 4,646 6,500 Legal/Professional Services 14,043 3,560 5,408 10,000 Contractual 34,000 Planning 46,642 Total - Administrative 172,867 110,004 111,852 246,958 Expenditures - Capital Projects: ) Personal Services Professional Services 16,493 108,200 17,000 5,000 Legal 245,806 76,000 127,636 Environmental 167,535 2,000 19,500 2,000 Other contractual services 8,000 School District Payment 311,262 11,802 Relocation/ Demolition 154,400 692,500 490,000 Property maintenance 17,976 22,860 42,500 34,125 Public Improvements 2,464,411 7,392,000 7,380,000 2,004,640 Property acquisition 827,104 824,800 130,000 3,100,000 Property taxes 42,031 Other Charges Total - Capital Projects 4,247,018 9,126,360 8,218,438 5,145,765 Debt service - Principal Interest & fiscal agent fees 504,000 504,000 351,736 Transfer to City (bonds) 1,124,000 840,000 620,000 400,000 Total - Debt Service 1,124,000 1,344,000 1,124,000 751,736 Total Expenditures 5,543,885 10,580,364 9,454,290 6,144,459 Transfer from Debt Service/ Capital Projects Fund 874,970 Excess of revenues over expendi- tures and transfers (2ss,902) (6,835,939) (5,451,018) (1,447,444) / Ending Fund Balance - 12/31 $ 23,076,922 $ 16,240,983 $ 17,625,904 $ 16,178,460 Combined 12/5/94 9:22 AM o Tax Increment District - 1995 Proposed Budget District Name: Trunk Highway 7 Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 2,067,787 $ 43,646 $ 43,646 $ 647,840 Revenues: Tax Increments 686, 405 683,300 671,246 757,600 Del. Tax Increments Subtotal 686,405 683,300 671,246 757,600 Interest Income 60,248 23,916 23,916 25,000 Rents Miscellaneous 175,000 Total Revenues 746,653 707,216 870,162 782,600 Expenditures • Administrative: Personal Service 43,239 41,580 41,580 41,256 Supplies, etc. 4,664 1,350 1,350 1,500 Legal/Professional Services 3,115 1,038 1,038 3,000 Contractual 7,140 Planning Total - Administrative 51,017 43,968 43,968 52,896 Expenditures - Capital Projects: ) Personal Services Professional Services 5,667 5,000 2,000 5,000 Legal 10,113 11,000 16,000 Environmental 9,394 2,000 2,000 2,000 Other contractual services 8,000 School District Payment Relocation/ Demolition 4,945 300,000 Property maintenance 3,750 12,360 22,000 Public Improvements 1,898,877 832,000 100,000 205,000 Property acquisition 787,030 124,800 80,000 1,000 ,000 Property taxes Other Charges Total - Capital Projects 2,719,777 1,295,160 222,000 1,212,000 Debt service - Principal Interest & fisca l agent fees Transfer to City (bonds) 240,000 Total - Debt Service 240,000 Total Expenditures 2,770,794 1,579,128 265,968 1,264,896 Transfer from Debt Service/ Capital Projects Fund 832,000 Excess of revenues over expendi- tures and transfers (2,024.141 (9,912) 604,194 (482,296) / Ending Fund Balance - 12/31 $ 43,646 $ 3,734 $ 647,840 $ 165,544 TH7 9:19AM ) Tax Increment District - 1995 Proposed Budget District Name: Excelsior Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 14,955,059 $ 15,207,784 $ 15,207,784 $ 13,749,564 Revenues: Tax Increments 1,954,790 2,020,335 1,872,495 3,082,204 Del. Tax Increments Subtotal 1,954,790 2,020,335 1,872,495 3,082,204 Interest Income 733,933 421,541 540,000 300,000 Rents Miscellaneous 248,873 94,524 Total Revenues 2,937,596 2,441,876 2,507,019 3,382,204 Expenditures - Administrative: Personal Service 38,775 38,944 38,944 135,556 Supplies, etc. 1,866 2,163 2,163 3,000 Legal/Professional Services 9,373 1,286 3,134 5,000 Contractual 23,460 Planning 46,642 Total - Administrative 96,656 42,393 44,241 167,016 Expenditures - Capital Projects: ) Personal Services Professional Services 10,826 103,200 15,000 Legal 235,693 60,000 110,636 Environmental 158,141 17,500 Other contractual services School District Payment 260,731 8,980 Relocation/ Demolition 149,455 392,500 490,000 Property maintenance 4,252 10,000 21,000 Public Improvements 563,014 6,500,000 7,240,000 1,799,640 Property acquisition 40,074 700,000 50,000 2,000,000 Property taxes 42,031 Other Charges Total - Capital Projects 1,464,215 7,755,700 7,942,116 3,820,640 Debt service - Principal Interest & fiscal agent fees 504,000 504,000 351,736 Transfer to City (bonds) 1,124,000 600,000 620,000 400,000 Total - Debt Service 1,124,000 1,104,000 1,124,000 751,736 Total Expenditures 2,684,871 8,902,093 9,110,357 4,739,392 Transfer from Debt Service/ Capital Projects Fund 5,145,119 Excess of revenues over expendi- tures and transfers 252,725 (6,460.217) (1,458.219) (t,357. 188) ? Ending Fund Balance - 12/31 $ 15,207,784 $ 8,747,567 $ 13,749,564 $ 12,392,377 Excelsior 2 9:19 AM 5 Tax Increment District- 1995 Proposed Budget District Name: Oak Park Village Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 1,531,069 $ 2,795,043 $ 2,795,043 $ 3,228,499 Revenues: Tax Increments 398,388 397104 393,800 399,111 Del. Tax Increments Subtotal 398,388 397,104 393,800 399,111 Interest Income 74,156 85,114 112,941 128,419 Rents Miscellaneous 4,680 4,680 4,680 4,680 Total Revenues 477,224 486,898 511,422 532,211 Expenditures • Administrative: Personal Service 21,881 21,274 21,274 19,646 Supplies, etc. 1,758 1,133 1,133 2,000 Legal/Professional Services 1,556 1,236 1,236 2,000 Contractual 3,400 Planning Total - Administrative 25,195 23,643 23,643 27,046 Expenditures - Capital Projects: ) Personal Services Professional Services Legal 5,000 1,000 Environmental Other contractual services School District Payment 50,531 2,822 Relocation/ Demolition Property maintenance 9,974 10,500 10,500 13,125 Public Improvements 2,520 60,000 40,000 Property acquisition 100,000 Property taxes Other Charges Total - Capital Projects 63,025 75,500 54,322 113,125 Debt service - Principal Interest & fiscal agent fees Transfer to City (bonds) Total - Debt Service Total Expenditures 88,220 99,143 77,965 140,171 Transfer from Debt Service/ Capital Projects Fund 874,970 Excess of revenues over expendi- tures and transfers 1,263,974 387,755 433,457 392,040 O Ending Fund Balance - 12/31 $ 2,795,043 $ 3,182,798 $ 3,228,499 $ 3,620,539 OPV 3 9:19 AM <5 Tax Increment District-1995 Proposed Budget District Name: Capital Projects Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 4,809,909 $ 5,030,450 $ 5,030,450 Revenues: Tax Increments Del. Tax Increments Subtotal Interest Income 220,541 108,435 114,669 Rents Miscellaneous Total Revenues 220,541 108,435 114,669 Expenditures - Administrative: Personal Service Supplies, etc. Legal/Professional Services Contractual Planning Total -Administrative Expenditures - Capital Projects: ) Personal Services Professional Services Legal Environmental Other contractual services School District Payment Relocation/ Demolition Property maintenance Public Improvements Property acquisition Property taxes Other Charges Total - Capital Projects Debt service - Principal Interest & fiscal agent fees Transfer to City (bonds) Total - Debt Service Total Expenditures Transfer to District Fund/ for Capital Projects (8a2.00 ) (5.145.119) Excess of revenues over expendi- tures and transfers 220,541 (72a.5es) (5.030.450 J Ending Fund Balance -12/31 $ 5,030,450 $ 4,306,885 $ (o) Capital Projects 4 9:19 AM REQ UEST FO R EDA ACTIO N DATE: December 5, 1994 AGENDA ORIGINATING SECTION: DEPT: NO. 5 FIN AN CE ITEM: EDA Budget for 1995 APPROVED: re NO. 5 c Summary At the work session of November 14, 1994, a proposed budget for the EDA in 1995 was presented and reviewed with the President and Commissioners. The purpose of this action is for approval of the budget for 1995. Analysis There have been several adjustments made to both the revised 1994 budget and the proposed amounts for 1995. Legal fees have been more closely reviewed. The project-related legal fee total for all three districts for 1994 has been increased to $102,000 (up from $75,000). The increase is based on November year-to-date totals. _e 1995 project-related legal fees has been reduced to zero. As noted before, the 1995 budget includes amounts for as yet "undetermined" acquisition projects. Once actual projects are determined the legal fees can be more accurately estimated and the 1995 budget amended, accordingly. Recommendation Motion to approve the revised 1994 budget and proposed 1995 budget. 'Public Works _9proval Obtained Finance Approval Obtained Approval Obtained Police Approval Obtained Manager's Approval Obtained COUNCIL ACTION MOTION BY 2ND BY -------- TO Tax Increm ent Distri ct - 19 9 5 Propo sed Budget District Name: Combined Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 23,363,824 $ 23,076,922 $ 23,076,922 $ 17,652,874 Revenues: Tax Increments $ 3,039,583 $ 3,100,739 $ 2,937,541 $ 4,238,915 Del. Tax Increments Subtotal 3,039,583 3,100,739 2,937,541 4,238,915 Interest Income 1,088,877 639,006 791,504 453,514 Rents Miscellaneous 253,553 4,680 274,204 4,680 Total Revenues 4,382,013 3,744,425 4,003,249 4,697,109 Expenditures - Administrative: Personal Service 103,895 101,798 101,798 196,458 Supplies, etc. 8,288 4,646 4,646 6,500 Legal/Professional Services 14,043 3,560 4,074 12,000 Contractual 34,000 Planning 46,642 Total -Administrative 172,867 110,004 110,518 248,958 Expenditures - Capital Projects: Personal Services Professional Services 16,493 108,200 17,000 5,000 Legal 245,806 76,000 102,000 Environmental 167,535 2,000 19,500 2,000 Other contractual services 8,000 School District Payment 311,262 11,802 Relocation/ Demolition 154,400 692,500 490,000 Property maintenance 17,976 22,860 42,500 34,125 Public Improvements 2,464,411 7,392,000 7,380,000 2,004,640 Property acquisition 827,104 824,800 130,000 3,100,000 Property taxes 42,031 Other Charges Total - Capital Projects 4,247,018 9,126,360 8,192,802 5,145,765 Debt service - Principal Interest & fiscal agent fees 504,000 504,000 351,736 Transfer to City (bonds) 1,124,000 840,000 620,000 400,000 Total - Debt Service 1,124,000 1,344,000 1,124,000 751,736 Total Expenditures 5,543,885 10,580,364 9,427,320 6,146,459 Transfer from Debt Service/ Capital Projects Fund 874,970 Excess of revenues over expendi- tures and transfers (286,902) (6.835.939) (5,424,048) (1,449,444) Ending Fund Balance - 12/31 $ 23,076,922 $ 16,240,983 $ 17,652,874 $ 16,203,430 Combined 11/30/94 8:26 AM r, Tax Increment District - 1995 Proposed Budget District Name: Trunk Highway 7 Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 2,067,787 $ 43,646 $ 43,646 $ 647,840 Revenues: Tax Increments 686,405 683,300 671,246 757,600 Del. Tax Increments Subtotal 686,405 683,300 671,246 757,600 Interest Income 60,248 23,916 23,916 25,000 Rents Miscellaneous 175,000 Total Revenues 746,653 707,216 870,162 782,600 Expenditures - Administrative: Personal Service 43,239 41,580 41,580 41,256 Supplies, etc. 4,664 1,350 1,350 1,500 Legal/Professional Services 3,115 1,038 1,038 5,000 Contractual 7,140 Planning Total - Administrative 51,017 43,968 43,968 54,896 Expenditures - Capital Projects: ) Personal Services Professional Services 5,667 5,000 2,000 5,000 Legal 10,113 11,000 16,000 Environmental 9,394 2,000 2,000 2,000 Other contractual services 8,000 School District Payment Relocation/ Demolition 4,945 300,000 Property maintenance 3,750 12,360 22,000 Public Improvements 1,898,877 832,000 100,000 205,000 Property acquisition 787,030 124,800 80,000 1,000,000 Property taxes Other Charges Total - Capital Projects 2,719,777 1,295,160 222,000 1,212,000 Debt service - Principal Interest & fiscal agent fees Transfer to City {bonds) 240,000 Total - Debt Service 240,000 Total Expenditures 2,770,794 1,579,128 265,968 1,266,896 Transfer from Debt Service/ Capital Projects Fund 832,000 Excess of revenues over expendi- tures and transfers (2,024.141 (g9,912) 604,194 (484.,296) e? Ending Fund Balance - 12/31 $ 43,646 $ 3,734 $ 647,840 $ 163,544 TH7 2 8:.26 AM Tax Increm ent Distri ct - 1995 Proposed Budget District Name: Excelsior Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 14,955,059 $ 15,207,784 $ 15,207,784 $ 13,776,534 Revenues: Tax Increments 1,954,790 2,020,335 1,872,495 3,082,204 Del. Tax Increments Subtotal 1,954,790 2,020,335 1,872,495 3,082,204 Interest Income 733,933 421,541 540,000 300,000 Rents Miscellaneous 248,873 94,524 Total Revenues 2,937,596 2,441,876 2,507,019 3,382,204 Expenditures • Administrative: Personal Service 38,775 38,944 38,944 135,556 Supplies, etc. 1,866 2,163 2,163 3,000 Legal/Professional Services 9,373 1,286 1,800 5,000 Contractual 23,460 Planning 46,642 Total - Administrative 96,656 42,393 42,907 167,016 Expenditures - Capital Projects: Personal Services Professional Services 10,826 103,200 15,000 Legal 235,693 60,000 85,000 Environmental 158,141 17,500 Other contractual services School District Payment 260,731 8,980 Relocation/ Demolition 149,455 392,500 490,000 Property maintenance 4,252 10,000 21,000 Public Improvements 563,014 6,500,000 7,240,000 1,799,640 Property acquisition 40,074 700,000 50,000 2,000,000 Property taxes 42,031 Other Charges Total - Capital Projects 1,464,215 7,755,700 7,916,480 3,820,640 Debt service - Principal Interest & fiscal agent fees 504,000 504,000 351,736 Transfer to City (bonds) 1,124,000 600,000 620,000 400,000 Total - Debt Service 1,124,000 1,104,000 1,124,000 751,736 Total Expenditures 2,684,871 8,902,093 9,083,387 4,739,392 Transfer from Debt Service/ Capital Projects Fund 5,145,119 Excess of revenues over expendi- tures and transfers 252,725 (6,460.217) (1,431.249) (1,357.18g) Ending Fund Balance - 12/31 $ 15,207,784 $ 8,747,567 $ 13,776,534 $ 12,419,347 Excelsior 3 8:26 AM -, Tax Increment District - 1995 Proposed Budget District Name: Oak Park VIiiage Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 1,531,069 $ 2,795,043 $ 2,795,043 $ 3,228,499 Revenues: Tax Increments 398,388 397104 393,800 399,111 Del. Tax Increments Subtotal 398,388 397,104 393,800 399,111 Interest Income 74,156 85,114 112,941 128,419 Rents Miscellaneous 4,680 4,680 4,680 4,680 Total Revenues 477,224 486,898 511,422 532,211 Expenditures - Administrative: Personal Service 21,881 21,274 21,274 19,646 Supplies, etc. 1,758 1,133 1,133 2,000 Legal/Professional Services 1,556 1,236 1,236 2,000 Contractual 3,400 Planning Total -Administrative 25,195 23,643 23,643 27,046 Expenditures - Capital Projects: ) Personal Services Professional Services Legal 5,000 1,000 Environmental Other contractual services School District Payment 50,531 2,822 Relocation/ Demolition Property maintenance 9,974 10,500 10,500 13,125 Public Improvements 2,520 60,000 40,000 Property acquisition 100,000 Property taxes Other Charges Total - Capital Projects 63,025 75,500 54,322 113,125 Debt service - Principal Interest & fiscal agent fees Transfer to City (bonds) Total - Debt Service Total Expenditures 88,220 99,143 77,965 140,171 Transfer from Debt Service/ Capital Projects Fund 874,970 Excess of revenues over expendi- tures and transfers 1,263,974 387,755 433,457 392,040 • Ending Fund Balance - 12/31 $ 2,795,043 $ 3,182,798 $ 3,228,499 $ 3,620,539 OPV 4 8:26 AM T ax In c r e m e n t D is tri ct - 1 995 P r o po sed B u d g e t District Name: Capital Projects Last Updated: Actual Adopted Revised Proposed 1993 1994 1994 1995 Beg. Fund Balance - 1/1 $ 4,809,909 $ 5,030,450 $ 5,030,450 Revenues: Tax Increments Del. Tax Increments Subtotal Interest Income 220,541 108,435 114,669 Rents Miscellaneous Total Revenues 220,541 108,435 114,669 Expenditures » Administrative: Personal Service Supplies, etc. Legal/Professional Services Contractual Planning Total - Administrative Expenditures - Capital Projects: Personal Services Professional Services Legal Environmental Other contractual services School District Payment Relocation/ Demolition Property maintenance Public Improvements Property acquisition Property taxes Other Charges Total - Capital Projects Debt service - Principal Interest & fiscal agent fees Transfer to City (bonds) Total - Debt Service Total Expenditures Transfer to District Fund/ for Capital Projects (832,0o0) (5,145.119) Excess of revenues over expendi- tures and transfers 220,541 (723.ses) (5.030.450) Ending Fund Balance - 12/31 $ 5,030,450 $ 4,306,885 $ o) Capital Projects 5 8:.26 AM V E ND O R CL A IM 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 D e c e m b e r 5 , 1 9 9 4 V e n d o r D e s c r i p t i o n Am o u n t A e t n a L i f e In s u r a n c e C o . R o b e r t E . B o w e n C i t y o f S t . L o u i s P a r k D a h l g r e n Sh a r d l o w & Uban Egan Field & Nowak Inc. Fairs Nursery MN Pollution Control Agency Publicorp Inc. RLK Associates Ltd. STS Consultants Cityscape project Services Debt service-Excel. Blvd. bond sale Professional services Services Landscaping services Services Services Services Services $ 62,400.00 4,450.00 620,000.00 6,017.97 7 51. 62 23,794.50 334.67 503.75 853.50 670.00 TOTAL $719,776.01 Accounting Dept. O Executive Director D ecem ber 5, 19 94 E D A TO: THROUGH: FROM: SUBJECT: Economic Development Authority Charlie Meyer, Executive Director@U(Th Mac McBride, Finance Directs+ 757 Lori Ziemer, Asst. Finance Director November 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. Revenue collections reflect interest received on investments which matured during November. Significant expenditures reflect legal services for July and August, professional services for the Excelsior Blvd. project, and construction costs associated with the Park Nicollet parking ramp project. S t. L o u is P a rk E c o n o m ic D e v e lo p m e n t A u th o rit y C o m bining Statement of Revenue and Expenditures Budget and Actual For Period E n din g November 30 , 1994 YTD BALANCE PERCENT COLLECTED/ UNCOLLEC.I COLLECTED/ BUDGET EXPENDED UNEXPEND. EXPENDED REVENUE Tax increment $3,100,740 $1,476,151 $1,624,589 48 Rent 4,680 4,290 390 92 Interest 639,005 850,801 (211,796) 133 Transfers Refunds & Reimburse 149,188 (149,188) TOTAL REVENUE 3,744,425 2,480,430 1,263,995 66 EXPENDITURES Administrative Salaries 84,520 63,188 21,332 75 Employee benefits 17,278 13,201 4,077 76 Supplies & other chgs. 4,647 3,304 1,343 71 Legal 3,560 2,033 1,527 57 Contractual 1,181 (1,181) Planning Total Administrative 110,005 82,907 27,098 75 Project Cost Professional service 108,200 3,595 104,605 Legal 75,000 92,043 (17,043) 123 Environ. analysis 2,000 16,423 (14,423) 821 Public improvement 7,392,000 6,020,233 1,371,767 81 Relocation/demolition 692,500 476,623 215,877 69 Property acquisition 824,800 824,800 Environ. remediation 62,910 (62,910) Referendum payment 11,802 (11,802) Property maintenance 22,860 21,958 902 96 Other services 8,000 21,822 (13,822) 273 Transfers Total Project Costs 9,125,360 6,727,409 2,397,951 74 Debt Service Bond principal 600,000 (600,000) Bond interest 504,000 198,763 305,237 39 Transfer Inter-govt., City 840,000 840,000 Bond agent fees 1,199 (1,199) Total Debt Service 1,344,000 799,962 544,038 60 TOTAL EXPENDITURES 10,579,365 7,610,278 2,969,087 72 REVENUE OVER (UNDER) EXPENDITURES (6,834,940) (5,129,848) (1,705,092) 75 1 ST . LO UIS PARK ECONOMIC DEVELOPMENT AUTHORITY Individual Statement Of Revenue And Expenditures For Period Ending November 30, 1994 EXCELSIOR OAK PARK TRUNK CAPITAL DEBT REVENUE BLVD VILLAGE HWY7 PROJECTS SERVICE TOTAL Tax increment $940,952 $197,889 $337,310 $ $ $1,476,151 Rent 4,290 4,290 Interest 558,891 65,342 15,825 183,688 27,055 850,801 Transfers Refund/reimburse 94,524 50,000 4,664 149,188 TOTAL REVENUE 1,594,367 267,521 403,135 183,688 31,719 2,480,430 EXPENDITURES Administrative Salaries 22,071 13,855 27 ,262 63,188 Employee benefits 4,620 2,835 5,746 13,201 Supplies & other chgs. 2,044 582 678 3,304 Legal 1,539 278 216 2,033 Contractual 1,181 1,181 Planning ) Total Administrative 30,274 17,550 35,083 82,907 Project Cost Appraisal/survey 3,595 3,595 Legal 77,218 462 14,363 92,043 Environ. analysis 15,364 1,059 16,423 Public improvement 5,925,688 94,545 6,020,233 Relocation/demolition 476,623 476,623 Property tax Acquisition 510 62,400 62,910 Referendum payment 8,980 2,822 11,802 Property maintenance 2,260 19,698 21,958 Other services 21,822 21,822 Total Project Costs 6,532,060 3,284 192,065 6,727,409 Debt Service Bond principal 600,000 600,000 Bond interest 198,763 198,763 Transfer Inter-govt., City Bond agent fees 1,199 1,199 Total Debt Service 799,962 799,962 TOTAL EXPENDITURES 6,562,334 20,834 227,148 799,962 7,610,278 REVENUE OVER (UNDER) ? EXPENDITURES (4,967,967) 246,687 175,987 183,688 (768,243) (5,129,848) 2 ST. LOUIS PA R K ECONOMIC DEVELOPMENT AUTHORITY SCHEDULE OF INVESTMENTS NOVEMBER 30, 1994 Investm ents Date Institution/Typ e Yield Purchase Maturity Balance Dain Bosworth - Treas. 3.61 11-15-93 11-30-94 1,500,000 Dain Bosworth - Treas. 3.65 11-15-93 12-31-94 1,000,000 Dain Bosworth - FHL 3.59 10-25-93 01-25-95 1,500,000 1st Banks - FNMA 3.90 12-01-93 03-10-95 2,250,000 1st Banks - FC 3 .90 12-02-93 04-03-95 700,000 1st Banks NA- FHL 5.06 05-03-94 04-03-95 699,154 Park Investment - Treas. 3.25 01-10-94 04-30-95 1,500,000 1st Banks - Treas. 3.65 01-31-94 04-30-95 1,500,000 1st Banks - Treas. 4.44 03-08-94 05-31-95 700,000 Park National - C.D. 5.45 06-03-94 05-31-95 600,000 Dain Bosworth - Treas. 4.90 04-15-94 06-30-95 1,000,000 Park Investment- FC 5.52 07-07-94 07-05-95 1,297,779 1st Banks - FHL 5.93 09-30-94 08-08-95 1,023,64 6 1st Banks - FHL 6.01 10-11-94 08-25-95 398,853 Dain Bosworth - FC 5.47 08-01-94 09-01-95 500,000 1st Banks - FHL 3.84 09-20-93 09-20-95 1,000,000 Dain Bosworth - FHL 6.59 11-16-94 11-03-95 1,023,922 4M Fund Various Open 483.001 Total Investments $18,676,355 ---------- ---------- Legend: C.D. = Certifica te 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 3