HomeMy WebLinkAbout2025/09/10 - ADMIN - Agenda Packets - Housing Authority - Regular Housing Authority of St. Louis Park
Meeting date: September 10, 2025
Housing Authority, St. Louis Park, Minnesota
Wednesday, September 10, 2025, 5 p.m.
Community Room, first floor
Agenda
1.Call to order - roll call
Welcome new board member, Val Upsher
2.Approval of Minutes for July 2025
3.Hearings:
a.None
4.Presentation
a.None
5.Unfinished Business
a.None
6.New Business
a.Authorization to enter into a grant contract agreement with MN Housing to administer the
Bring it Home Rental Assistance program, resolution no. 779
b.Work plan discussion with city council
7.Communications
a.Claims Lists: August 2025
b.Financials: June 2025
c.Communications:
8.Other: Next scheduled meetings: October 6 meeting with city council, October 8, 2025 HA board
meeting
9.Adjournment
Auxiliary Aides for those with disabilities are available upon request. To make arrangements please call
the Housing Authority office at 952-924-2579 (TDD 952-924-2668) at least 96 hours in advance of
meeting.
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Unofficial Minutes
Housing Authority meeting
St. Louis Park, Minnesota
August 13, 2025
1. Call to order: The meeting was called to order at 5:00 p.m.
Roll call:
Members present: Shelby Conway, Thom Miller and Jolene Tanner
Member absent: Catherine Courtney
Staff present: Angela Nelson, Marney Olson, and Nicole Randall
Guests: Rebecca Petersen, CPA, RedPath and Company
2. Approval of Minutes – Minutes for the June 2025 board meeting were reviewed.
It was moved by Commissioner Tanner, seconded by Commissioner Conway, to approve
the June 2025 minutes as presented.
Motion passed 3-0.
3. Hearings
4. Presentation – Rebecca Petersen from RedPath and Company presented the financial
audit for fiscal year ended December 31, 2024. The result is a “clean” or unmodified
opinion issued on the 2024 financial statements. There is one internal control finding
related to audit adjustments that is required to be reported. It is an extremely common
finding for smaller, local governments and in this instance heavily impacted by the
implementation of Yardi. There were checks that were being accrued at year-end to get
expenses into the right reporting period. The way it was done in Yardi resulted in a
misstatement to cash.
The Housing authority remains in solid financial position to meet its outstanding
obligations and continue to operate into the foreseeable future. The housing authority
has no material weaknesses or deficiencies. No action required.
5. Unfinished Business – None
6. New Business
a. Authorization to enter into a contract with Hennepin County to administer the
Stable HOME rental assistance program, Resolution No. 778.
Ms. Randall provided an overview of the Stable Home program. Since 2014
Hennepin County has contracted with the Housing Authority to administer a county
tenant based rental assistance program. Federal funding uncertainty has prompted
both HA and county staff to look at contingency plans if funding were to be
eliminated for any reason. Additional language regarding the termination of the
contract is being negotiated. These terms include a termination notice requirement
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and relocation benefits for tenants, should the contract need to be terminated due
to the lack of federal HOME funding.
Ms. Olson added that if the HOME program was terminated, the voucher holder’s
lease would terminate, as well. The tenant will not be obligated to stay in their
current lease. This is currently included in the landlord’s HAP contract.
It was moved by Commissioner Conway, seconded by Commissioner Tanner to
authorize the housing authority to enter into a contract with Hennepin County to
administer the Stable HOME rental assistance program, Resolution No. 778.
Motion passed 3-0.
7. Communications
8. Other
9. Adjournment
It was moved by Commissioner Conway, seconded by Commissioner Tanner, to adjourn
the meeting.
Motion passed 3-0.
The meeting was adjourned at 5:35 p.m.
Respectfully submitted,
______________________________
Jolene Tanner, Secretary
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Housing Authority of St. Louis Park
Meeting date: September 10, 2025
Agenda item: 6a
Title: Authorization to enter into a grant contract agreement with Minnesota Housing for Bring It
Home
Recommended action: Staff recommend the Housing Authority (HA) Board authorize entering into a
grant contract agreement with Minnesota Housing to commence the administration of the tenant-
based rental assistance program Bring It Home (BIH). The approximate program will be size will be 52
participants. The term of the contract will begin the date the contract is executed and be in effect for
two years.
Policy consideration: Does the Housing Authority Board support partnership with Minnesota Housing
to administer the Bring it Home (BIH) rental assistance program consistent with the mission and goals
of the Housing Authority and the BIH guidelines?
Summary: In the spring of 2025 Minnesota Housing accepted responses to the Bring It Home Rental
Assistance Request for Proposals (“RFP”) in accordance with Minnesota Statute 462A.2095. Staff
submitted an RFP on behalf of the housing authority. On July 31, 2025, staff were notified that the
application was approved for funding in the amount of $1,378,556.00.
Bring It Home (BIH) is a new program to create rental assistance for low-income families across
Minnesota. Funded by state appropriations and the new metro sales tax for housing, the program will
provide grants to Program Administrators (PAs) who will administer the program as direct assistance
for renter households.
The program funds Tenant-Based and Project-Based Rental Assistance for cost-burdened households
earning up to 50% area median income (AMI) or less. Cost-burdened means a household that is paying
more than 30% of the household’s annual income on rent. Statute requires priority for rental assistance
shall be given to households with children 18 years of age and under, and annual incomes of up to 30%
of the area median income.
A PA may provide Tenant-Based or Project-Based Rental Assistance in amounts equal to the difference
between 30% of household income and the rent charged, plus an allowance for utilities if not included
in rent. A PA may not provide assistance that is more than the difference between 30% of the tenant's
gross income and 120% of the payment standard, plus utilities, as established by the local Public
Housing Authority, unless otherwise authorized by Minnesota Housing. Minnesota Housing is providing
authorization to use adjusted gross income instead of gross income to be consistent with the federal
Housing Choice Voucher program. Like federal Housing Choice Vouchers, households may continue to
receive housing assistance as long as the household remains income-eligible and is compliant with
participant obligations.
Program design
• HAs must prioritize households with children 18 years of age and under, and annual incomes up to
30% area median income (AMI) per MN Housing program guidelines.
• State statute defines an “eligible household” as a household with an annual income of up to 50
percent of the area median income, adjusted for family size, that is paying more than 30 percent of
the household’s annual income on rent.
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Housing Authority meeting of September 10, 2025 (Item No. 6a) Page 2
Title: Authorization to enter into a grant contract agreement with Minnesota Housing for Bring It Home
• The SLPHA application indicated priorities based on direction previously given by the Housing
Authority board ordered as:
1. 30% AMI, with children and residency preference (lives, works or goes to school in St. Louis
Park)
2. 30% AMI with children (no residency preference)
3. 30% AMI elderly, near-elderly, disabled with residency preference
4. 30% AMI elderly, near-elderly, disabled (no residency preference)
5. Veteran preference
• Staff will use the same payment standards and utility allowances as our HCV program with
flexibility to go up to 120% as allowed by Minnesota Housing if necessary
• The SLPHA BIH program will use:
Option 2 - Amended HCV procedures, amending these sections of the admin plan for BIH:
o Elimination of an inspection requirement, given the robust rental licensing program in St.
Louis Park. The requirement of landlords will be that they need to be in compliance with
their rental license.
o Project Based vouchers: will be able to be approved through a non-competitive process;
written requests shall be required to be submitted to the HA Board. The board will be
allowed to approve up to 50% of the vouchers allocated to be project based. Elimination of
PBV project caps and HA is committed to only project basing units that are 2 bedrooms and
larger.
o Additional preference for lease in place
o Additional language to preserve eligibility for non-citizen applicants. The citizenship
eligibility requirements for the SLPHA BIH program will be determined using the eligibility
criteria outlined in Chapter 3-II.B of the current HCV admin plan. Housing assistance is
available only to individuals who are U.S. citizens, U.S. nationals (herein referred to as
citizens and nationals), or noncitizens that have eligible immigration status. At least one
family member must be a citizen, national, or noncitizen with eligible immigration status in
order for the family to qualify for any level of assistance.
The funding amount awarded is $1,378,556.00. This is made up of $31,700.00 in startup costs to be
used in the first twelve months of contracting and $1,346,856.00 in Housing Assistance Payments (HAP)
and Administrative Fees intended to be used during the full two-year contract term.
The grant term will start upon execution of the Grant Contract Agreement by both parties and will end
two years after execution. Funding is contingent upon satisfactory completion of all due diligence
items, approval of which is at the sole discretion of Minnesota Housing. All due diligence items are due
to Minnesota Housing by October 15, 2025. Execution of the grant agreement will be authorized to be
completed by: Karen Barton, Housing Authority of St. Louis Park Executive Director,
kbarton@stlouisparkmn.gov.
Supporting documents: Resolution No. 779
Prepared by: Nicole Randall, housing assistance administrator
Reviewed by: Marney Olson, housing manager
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RESOLUTION NO. 779
Authorizing the Execution of a Grant Contract Agreement
for Bring It Home with Minnesota Housing
WHEREAS, Bring It Home (BIH) is a new program to create rental assistance for low-income
families across Minnesota, and
WHEREAS, Minnesota Housing accepted applications for the Bring It Home Rental Assistance
Request for Proposals (“RFP”) in accordance with Minnesota Statute 462A.2095, and
WHEREAS, the Housing Authority of St. Louis Park staff submitted an RFP on behalf of the
housing authority, and
WHEREAS, the Housing Authority of St. Louis Park was notified by Minnesota Housing the
funding amount awarded is $1,378,556.00, and
WHEREAS, funding is contingent upon satisfactory completion of all due diligence items,
approval of which is at the sole discretion of Minnesota Housing, and
WHEREAS, execution of the grant agreement shall be authorized to be completed by: Karen
Barton, Housing Authority of St. Louis Park Executive Director, kbarton@stlouisparkmn.gov.
NOW, THEREFORE BE IT RESOLVED that the Housing Authority Board authorizes the Housing
Authority complete and submit all due diligence items and to enter into a grant contract agreement
with Minnesota Housing for the administration of the Bring It Home Program.
Adopted by the Authority September 10, 2025
__________________________
Thom Miller, Chair
__________________________
Jolene Tanner, Secretary
ATTEST:
____
Karen Barton, Executive Director
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Housing Authority of St. Louis Park
Meeting date: September 10, 2025
Agenda item: 6b
Title: Housing Authority work plan discussion with the St. Louis Park City Council
Recommended action: This item is for discussion purposes.
Policy consideration: Not applicable.
Summary: Based on guidance provided by city council members during the Feb. 3, 2025
special study session focused on establishing protocols for boards and commissions, it was
decided to schedule regular check-ins between boards and commissions and the city council
throughout the year.
The October 6, 2025 meeting will spotlight the Housing Authority Board. The discussion will
cover an overview of the commission's approved work plan, including any completed tasks,
ongoing projects and strategies for addressing unaddressed work plan items. Additionally, the
discussion will include opportunities for council feedback, potential modifications or additions
to the work plan, and any other relevant topics concerning the commission's activities.
The 2025 work plan is attached. Below is the work completed and upcoming work for 2025
related to the work plan.
Housing Authority Board work completed in 2025:
• Reviewed claims and monthly financials (ongoing)
• Approved the Section 8 Management Assessment Program (SEMAP) certification
• Reviewed Community Development Block Grant proposed allocation and provided
feedback
• Approved amendments to the Public Housing Admissions and Continued Occupancy
Policy (ACOP) and Housing Choice Voucher Admin Plan
• Authorized the HA to enter into an agreement with Vail Place for ROSS service
coordination
• Letter of board support to government officials in support of federally funded housing
programs
• Reviewed and discussed 2024 Housing Activity Report
• Reviewed Project Based Voucher request for Beltline Station and authorized entering
into a Housing Assistance Payment (AHAP) contract for 20 PBV units
• Held a public hearing and approved the 2025 – 2029 Capital Fund Plan
• Audit presentation and discussion with the HA auditor
• Provided direction to HA staff on the MN Housing Bring it Home Rental Assistance
Program and authorized the HA to enter into a grant contract with MN Housing
• Vision 4.0: Community engagement staff have emailed Vision 4.0 opportunities to
commissioners, HA staff have and will continue to share opportunities with program
participants and utilize the SPARC newsletter to share information with rental property
owners and managers
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Housing Authority meeting of September 10, 2025 (Item No. 6b) Page 2
Title:
Work for remainder of 2025:
• Public Hearing on Annual Plan
• Set HCV payment standards
• Review and set utility allowances for rental assistance programs
• Renewal of Family Self Sufficiency contract with STEP
• 2026 budget
• Collection write-offs
HA staff will prepare a power point for the October 6 board. Chair Miller has already confirmed
he will be at the October 6 council meeting. All board members are invited to attend.
Supporting documents: 2025 work plan
Prepared by: Marney Olson, housing manager
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Board and Commission
Annual work plan
Presented to council: February 3, 2025
Approved by council:
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2025 work plan │ Housing Authority Board
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Initiative name:
Initiative type:
☒ Staff support (review project,
policy or program and provide
feedback)
☐ Independent research project
☐ Gather community feedback
☐ Lead community event
Initiative origin:
☐ Third party-initiated
☒ Staff-initiated
☐ Commission-initiated
☐ Council-initiated
Legally required (e.g. response to
Legislative changes or Judicial decisions)?
☐ Yes
☒ No
Commissioner lead(s) name(s):
If joint commission initiative, list other board or commission:
Is this an established work group? (if applicable)
☐ Yes
☒ No
Initiative description: Support the citywide Vision 4.0 process by participating directly and/or encouraging others to participate, and by
sharing information with other community members about the process.
Strategic Priority: ☐ 1 ☐ 2 ☐ 3 ☐ 4 ☒ 5 ☐ N/A
Deliverable: ☐ Research report ☐ Summary of community input ☒ Other ☐ N/A
Target completion date: 3Q 2025
This section to be completed by staff:
Council request (if applicable): ☐ Review and comment or reply ☐ Review and decide ☒ Informational only – no response needed
Budget required: None
Staff support required: Communication from staff liaison about opportunities with Vision 4.0
Liaison comments: Plan to keep the commission informed about opportunities to assist with the citywide Vision 4.0 process.
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Board and Commission
Annual work plan
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2
Initiative name:
Initiative type:
☒ Staff support (review project,
policy or program and provide
feedback)
☐ Independent research project
☐ Gather community feedback
☐ Lead community event
Initiative origin:
☒ Third party-initiated
☒ Staff-initiated
☐ Commission-initiated
☐ Council-initiated
Legally required (e.g. response to
Legislative changes or Judicial decisions)?
☒ Yes
☐ No
Commissioner lead(s) name(s):
If joint commission initiative, list other board or commission:
Is this an established work group? (if applicable)
☐ Yes
☐ No
Initiative description: Oversee the administration of the Housing Authority’s core federally funded rental assistance programs, city funded
Kids in the Park program and county funded Stable Home Program. Oversight includes review and approval of program policies, ensuring
sound fiscal policies and funding administration, approving the submission of competitive grant applications to secure new and renewal
funding, review and approval of the HA budget, review and approval of the Annual PHA Plan prior to submitting to HUD, and review and
approval of the 5-year capital improvement plan for the Public Housing Program.
Strategic Priority: ☐ 1 ☐ 2 ☒ 3 ☐ 4 ☐ 5 ☐ N/A
Deliverable: ☐ Research report ☐ Summary of community input ☒ Other ☐ N/A
Target completion date: Ongoing
This section to be completed by staff:
Council request (if applicable): ☐ Review and comment or reply ☐ Review and decide ☒ Informational only – no response needed
Budget required: None for oversight, but the board is responsible for oversight of the budget for all HA rental assistance programs.
Staff support required: Prepare board reports and information on HUD or other program guidelines and requirements so the board can
provide oversight of the programs.
Liaison comments: Oversight of the Housing Authority’s rental assistance programs is the primary role of the HA board.
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Board and Commission
Annual work plan
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Initiative name:
Initiative type:
☒ Staff support (review project,
policy or program and provide
feedback)
☐ Independent research project
☐ Gather community feedback
☐ Lead community event
Initiative origin:
☒ Third party-initiated
☒ Staff-initiated
☐ Commission-initiated
☐ Council-initiated
Legally required (e.g. response to
Legislative changes or Judicial decisions)?
☒ Yes
☐ No
Commissioner lead(s) name(s):
If joint commission initiative, list other board or commission:
Is this an established work group? (if applicable)
☐ Yes
☐ No
Initiative description: Provide direction and approve the Bring it Home state rental assistance program. Oversee the administration of the
Bring it Home program once it is implemented.
Strategic Priority: ☐ 1 ☐ 2 ☒ 3 ☐ 4 ☐ 5 ☐ N/A
Deliverable: ☐ Research report ☐ Summary of community input ☒ Other ☐ N/A
Target completion date: 12/31/2025
This section to be completed by staff:
Council request (if applicable): ☐ Review and comment or reply ☐ Review and decide ☒ Informational only – no response needed
Budget required: None for oversight, but the board will be responsible for oversight of the budget for the Bring it Home program.
Staff support required: Prepare board reports and information on the requirements of the Bring it Home Program.
Liaison comments: The Bring it Home rental assistance program RFP is anticipated to be due in March 2025.
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Board and Commission
Annual work plan
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Initiative name:
Initiative type:
☒ Staff support (review project,
policy or program and provide
feedback)
☐ Independent research project
☐ Gather community feedback
☐ Lead community event
Initiative origin:
☐ Third party-initiated
☒ Staff-initiated
☐ Commission-initiated
☐ Council-initiated
Legally required (e.g. response to
Legislative changes or Judicial decisions)?
☐ Yes
☒ No
Commissioner lead(s) name(s):
If joint commission initiative, list other board or commission:
Is this an established work group? (if applicable)
☐ Yes
☐ No
Initiative description: Oversee the administration of programs that support or promote a well-maintained housing stock through the use
of the city’s housing rehab and design programs and affordable homeownership programs including the first-generation and DPA
programs. Review the housing activity report annually and provide feedback. Review and authorize the execution of contracts to
administer these programs.
Strategic Priority: ☐ 1 ☐ 2 ☒ 3 ☐ 4 ☐ 5 ☐ N/A
Deliverable: ☐ Research report ☐ Summary of community input ☐ Other ☒ N/A
Target completion date: Ongoing
This section to be completed by staff:
Council request (if applicable): ☐ Review and comment or reply ☐ Review and decide ☒ Informational only – no response needed
Budget required: None. The city council approves the budget for these programs.
Staff support required: Prepare reports to the board.
Liaison comments: Review any significant program changes with the board for their feedback, recommendations and approval.
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Board and Commission
Annual work plan
5
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Initiative name:
Initiative type:
☒ Staff support (review project,
policy or program and provide
feedback)
☐ Independent research project
☐ Gather community feedback
☐ Lead community event
Initiative origin:
☐ Third party-initiated
☒ Staff-initiated
☐ Commission-initiated
☒ Council-initiated
Legally required (e.g. response to
Legislative changes or Judicial decisions)?
☐ Yes
☒ No
Commissioner lead(s) name(s):
If joint commission initiative, list other board or commission:
Is this an established work group? (if applicable)
☐ Yes
☒ No
Initiative description: When requested by council, provide input on strategies to promote the creation and preservation of affordable
rental and homeownership options for low- and moderate-income households in St. Louis Park.
Strategic Priority: ☐ 1 ☐ 2 ☐ 3 ☐ 4 ☒ 5 ☐ N/A
Deliverable: ☐ Research report ☐ Summary of community input ☐ Other ☒ N/A
Target completion date: Ongoing as requested
This section to be completed by staff:
Council request (if applicable): ☐ Review and comment or reply ☐ Review and decide ☒ Informational only – no response needed
Budget required: None
Staff support required: Provide information to the board on housing strategies or policies being considered by council.
Liaison comments:
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Board and Commission
Annual work plan
6
Initiative Origin Definitions
• Third party-initiated – Project initiated by applicant or external agency (statutory boards)
• Staff-initiated – Project initiated by staff liaison or other city staff
• Commission-initiated – Project initiated by the board or commission
• Council-initiated – Project tasked to a board or commission by the city council
Strategic Priorities
1. St. Louis Park is committed to being a leader in racial equity and inclusion in order to create a more just and inclusive community for all.
2. St. Louis Park is committed to continue to lead in environmental stewardship.
3. St. Louis Park is committed to providing a broad range of housing and neighborhood oriented development.
4. St. Louis Park is committed to providing a variety of options for people to make their way around the city comfortably, safely and
reliably.
5. St. Louis Park is committed to creating opportunities to build social capital through community engagement
Modifications
• Work plans may be modified, to add or delete items, in one of three ways:
• Work plans can be modified by mutual agreement during a joint work session.
• If immediate approval is important, the board or commission can work with their staff liaison to present a modified work plan for city
council approval at a council meeting.
• The city council can direct a change to the work plan at their discretion.
Future ideas
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Board and Commission
Annual work plan
7
Initiatives that are being considered by the board or commission but not proposed in the annual work plan. Council approval is needed if the
board or commission decides they would like to amend a work plan.
Initiative Comments
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Agenda Item: 7.a.
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Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
Rental Income
Tenant Rent 84,209 481,291
Less: Concessions 0 -350
Total Rental Income 84,209 480,941
Other Tenant Income
Laundry and Vending 0 4,717
Cleaning Fee 0 3,938
Damages 222 6,500
Late Charges 166 712
NSF Charges 0 120
Tenant Owed Utilities 0 118
Other Income - Laundry 1,509 3,030
Tenant Payment Agreement (TPA) Ren -351 1,796
Tenant Payment Agreement (TPA) Frau 0 -1,092
Tenant Payment Agreement (TPA) Othe -272 1,338
Total Other Tenant Income 1,274 21,177
TOTAL TENANT INCOME 85,483 502,118
GRANT INCOME
HUD PHA Operating Grants/Subsidy 23,967 161,801
TOTAL GRANT INCOME 23,967 161,801
OTHER INCOME
Investment Income - Unrestricted 1,043 6,708
Fraud Recovery 0 1,092
TOTAL OTHER INCOME 1,043 7,800
TOTAL INCOME 110,493 671,719
EXPENSES
ADMINISTRATIVE EXPENSES
Administrative Salaries
Administrative Salaries 31,731 136,410
Employee Benefit Contribution-Admin 7,072 43,321
Total Administrative Salaries 38,803 179,731
Low Income Public Housing (.ph)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 3
Agenda Item 7.b.
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Period to Date Year to Date
Low Income Public Housing (.ph)
Income Statement
Period = Jun 2025
Book = Accrual
Other Admin Expenses
Staff Training 79 639
Accounting Fees 675 3,268
Auditing Fees 0 2,500
Office Rent 0 1,875
Total Other Admin Expenses 754 8,281
Miscellaneous Admin Expenses
Membership and Fees 0 263
Office Supplies 0 191
Telephone 244 5,289
Software 0 7,561
Other Misc Admin Expenses 437 12,814
Total Miscellaneous Admin Expenses 39,485 205,848
TOTAL ADMINISTRATIVE EXPENSES 40,239 214,130
UTILITY EXPENSES
Water 1,071 16,579
Electricity 9,823 28,687
Gas 6,175 24,437
Garbage/Trash Removal 4,686 36,581
Sewer 1,897 29,928
TOTAL UTILITY EXPENSES 23,653 136,212
MAINTENANCE AND OPERATIONAL EXPENSES
General Maint Expense
Maintenance Salaries 13,632 79,249
Employee Benefit Contribution-Maint.4,010 28,456
Total General Maint Expense 17,643 107,705
Materials
Maintenance Materials 4,926 16,083
Supplies-Appliance 2,240 4,710
Total Materials 7,166 20,792
Contract Costs
Contract-Electrical 495 9,152
Contract-Pest Control 272 3,890
Contract-Grounds 750 1,905
Contract-Janitorial/Cleaning 3,350 18,350
Contract-Plumbing 3,186 15,837
Contract-HVAC 814 2,916
Contract-Elevator Monitoring 286 2,998
Contract-Snow Removal Contract Cost 0 2,400
Page 2 of 3
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Period to Date Year to Date
Low Income Public Housing (.ph)
Income Statement
Period = Jun 2025
Book = Accrual
Unit Turnaround Contract Cost 1,650 3,138
Contract Costs-Other 1,338 9,336
Total Contract Costs 12,141 69,923
TOTAL MAINTENANCE AND OPERATIONAL EX 36,950 198,420
GENERAL EXPENSES
Insurance 213 2,302
Property Insurance 3,235 19,411
Liability Insurance 277 1,663
Payments in Lieu of Taxes 3,028 17,254
Bad Debt-Tenant Rents 0 -237
Other General Expense 0 6,483
TOTAL GENERAL EXPENSES 6,753 46,874
HOUSING ASSISTANCE PAYMENTS
Tenant Utility Payments-Voucher 0 292
Tenant Utility Payments-Public Housing 140 532
FSS Escrow Payments 737 6,220
TOTAL HOUSING ASSISTANCE PAYMENTS 877 7,044
NON-OPERATING ITEMS
Depreciation -Buildings 26,832 160,991
TOTAL NON-OPERATING ITEMS 26,832 160,991
TOTAL EXPENSES 135,304 763,672
NET INCOME -24,811 -91,952
Exclude Depreciation 26,832 160,991
Total Net Income 2,021 69,039
Page 3 of 3
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Current Balance
All
ASSETS
CURRENT ASSETS
CASH
Unrestricted Cash
Cash Operating 1 791,310
Petty Cash 100
Total Unrestricted Cash 791,410
Restricted Cash
Cash Restricted-FSS Escrow 28,339
Total Restricted Cash 28,339
TOTAL CASH 819,749
ACCOUNTS AND NOTES RECEIVABLE
A/R -Tenants 29,036
Allowance for Doubtful Accounts-Tenan -7,996
A/R - Tenant Payment Agreement (TPA 7,316
TOTAL ACCOUNTS AND NOTES RECEIVABL 28,356
OTHER CURRENT ASSETS
Investments-Unrestricted 335,456
Prepaid Expenses and Other Assets 22,353
TOTAL OTHER CURRENT ASSETS 357,809
TOTAL CURRENT ASSETS 1,205,914
NONCURRENT ASSETS:
FIXED ASSETS
Land 655,352
Buildings 3,629,598
Furniture and Equipment-Admin.93,328
Leasehold Improvements 655,765
Site Improvement 10,568,746
Accum Depreciation-Buildings -13,090,219
SBITA Asset 32,684
TOTAL FIXED ASSETS 2,545,254
TOTAL NONCURRENT ASSETS 2,545,254
TOTAL ASSETS 3,751,168
LIABILITIES & EQUITY
Low Income Public Housing (.ph)
Balance Sheet
Period = Jun 2025
Book = Accrual
Page 1 of 2
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Current Balance
Low Income Public Housing (.ph)
Balance Sheet
Period = Jun 2025
Book = Accrual
LIABILITIES:
CURRENT LIABLITIES:
A/P Vendors and Contractors 1,603
Tenant Security Deposits 42,945
Security Deposit Clearing Account 374
A/P Other 730
Accrued Payroll & Payroll Taxes 151,534
Accrued PILOT 17,254
Interprogram-Due To 20,705
Tenant Prepaid Rents 7,651
Accrued Compensated Absences-Curren 65,863
TOTAL CURRENT LIABILITIES 308,658
NONCURRENT LIABILITIES:
Accrued Compensated Absences-LT 10,484
FSS Escrow 29,036
Notes Payable - LT 255,002
SBITA Liability 30,184
TOTAL NONCURRENT LIABILITIES 324,706
TOTAL LIABILITIES 633,364
EQUITY
RETAINED EARNINGS:
Invested in Capital Assets-Net of Debt 2,391,727
Retained Earnings-Unrestricted Net Ass 726,077
TOTAL RETAINED EARNINGS:3,117,804
TOTAL EQUITY 3,117,804
TOTAL LIABILITIES AND EQUITY 3,751,168
Page 2 of 2
33
Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
Other Tenant Income
Tenant Payment Agreement (TPA) Frau -306 -2,410
Tenant Payment Agreement (TPA) Othe 0 1,648
Total Other Tenant Income -306 -762
TOTAL TENANT INCOME -306 -762
GRANT INCOME
Section 8 HAP Earned 366,513 2,152,325
Section 8 Admin. Fee Income 57,206 256,287
Port-In Admin Fees Earned 1,521 6,221
Port In HAP Earned 25,403 90,318
TOTAL GRANT INCOME 450,643 2,505,151
OTHER INCOME
Investment Income - Unrestricted 220 1,324
Fraud Recovery 306 7,198
TOTAL OTHER INCOME 526 8,522
TOTAL INCOME 450,863 2,512,911
EXPENSES
ADMINISTRATIVE EXPENSES
Administrative Salaries
Administrative Salaries 28,372 87,477
Employee Benefit Contribution-Admin 16,553 38,403
Total Administrative Salaries 44,926 125,880
Other Admin Expenses
Staff Training 79 1,624
Accounting Fees 555 3,862
Auditing Fees 0 3,000
Port Out Admin Fee Paid 6,296 33,917
Office Rent 0 1,875
Total Other Admin Expenses 6,930 44,278
Miscellaneous Admin Expenses
Membership and Fees 0 263
HCV not including MS5 (.hcv-fin)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 2
34
Period to Date Year to Date
HCV not including MS5 (.hcv-fin)
Income Statement
Period = Jun 2025
Book = Accrual
Office Supplies 0 266
Telephone 0 1,150
Software 0 16,183
Other Misc Admin Expenses 0 12,224
Total Miscellaneous Admin Expenses 44,926 155,965
TOTAL ADMINISTRATIVE EXPENSES 51,855 200,243
MAINTENANCE AND OPERATIONAL EXPENSES
HOUSING ASSISTANCE PAYMENTS
Housing Assistance Payments 308,857 1,807,388
Tenant Utility Payments-Voucher 807 6,569
Port Out HAP Payments 94,259 509,156
FSS Escrow Payments 2,670 11,896
TOTAL HOUSING ASSISTANCE PAYMENTS 406,593 2,335,009
TOTAL EXPENSES 458,448 2,535,252
NET INCOME -7,586 -22,341
Page 2 of 2
35
Current Balance
All
ASSETS
CURRENT ASSETS
CASH
Unrestricted Cash
Cash Operating 1 422,651
Total Unrestricted Cash 422,651
Restricted Cash
Cash Restricted-FSS Escrow 68,689
Cash Restricted-HAP -125,227
Total Restricted Cash -56,538
TOTAL CASH 366,113
ACCOUNTS AND NOTES RECEIVABLE
A/R -Tenants 3,100
A/R - Tenant Payment Agreement (TPA 1,486
A/R - HUD 35,001
A/R Port Ins 32,558
A/R Port In Suspense -2,727
TOTAL ACCOUNTS AND NOTES RECEIVABL 69,418
OTHER CURRENT ASSETS
Investments-Unrestricted 64,108
TOTAL OTHER CURRENT ASSETS 64,108
TOTAL CURRENT ASSETS 499,639
NONCURRENT ASSETS:
FIXED ASSETS
SBITA Asset 94,841
Accumulated Amortization -18,968
TOTAL FIXED ASSETS 75,873
TOTAL NONCURRENT ASSETS 75,873
TOTAL ASSETS 575,512
LIABILITIES & EQUITY
LIABILITIES:
CURRENT LIABLITIES:
A/P Vendors and Contractors -890
HCV not including MS5 (.hcv-fin)
Balance Sheet
Period = Jun 2025
Book = Accrual
Page 1 of 2
36
Current Balance
HCV not including MS5 (.hcv-fin)
Balance Sheet
Period = Jun 2025
Book = Accrual
Tenant Security Deposits -500
A/P Other 156
Accrued Payroll & Payroll Taxes 75,432
Interprogram-Due To 13,183
Tenant Prepaid Rents 246
Accrued Compensated Absences-Curren 9,216
TOTAL CURRENT LIABILITIES 96,842
NONCURRENT LIABILITIES:
Accrued Compensated Absences-LT 1,467
FSS Escrow 59,675
SBITA Liability 70,069
TOTAL NONCURRENT LIABILITIES 131,210
TOTAL LIABILITIES 228,052
EQUITY
RESERVED FUND BALANCE
Reserved for Capital Activities -125,227
TOTAL RESERVED FUND BALANCE -125,227
RETAINED EARNINGS:
Retained Earnings-Unrestricted Net Ass 472,686
TOTAL RETAINED EARNINGS:472,686
TOTAL EQUITY 347,459
TOTAL LIABILITIES AND EQUITY 575,512
Page 2 of 2
37
Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
GRANT INCOME
Section 8 HAP Earned 25,095 143,514
Section 8 Admin. Fee Income 2,271 10,091
TOTAL GRANT INCOME 27,366 153,605
TOTAL INCOME 27,366 153,605
EXPENSES
ADMINISTRATIVE EXPENSES
Administrative Salaries
Administrative Salaries -365 2,153
Employee Benefit Contribution-Admin -155 641
Total Administrative Salaries -520 2,794
Other Admin Expenses
Port Out Admin Fee Paid 380 3,732
Total Other Admin Expenses 380 3,732
Miscellaneous Admin Expenses
Software 0 1,113
Other Misc Admin Expenses 0 32
Total Miscellaneous Admin Expenses -520 3,938
TOTAL ADMINISTRATIVE EXPENSES -139 7,671
MAINTENANCE AND OPERATIONAL EXPENSES
HOUSING ASSISTANCE PAYMENTS
Housing Assistance Payments 14,186 86,592
Tenant Utility Payments-Voucher 0 2
Port Out HAP Payments 5,384 52,451
TOTAL HOUSING ASSISTANCE PAYMENTS 19,570 139,045
TOTAL EXPENSES 19,431 146,716
NET INCOME 7,935 6,889
Mainstream 5 (ms5)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 1
38
Current Balance
All
ASSETS
CURRENT ASSETS
CASH
Unrestricted Cash
Cash Operating 1 14,254
Total Unrestricted Cash 14,254
Restricted Cash
Cash Restricted-HAP -10,934
Total Restricted Cash -10,934
TOTAL CASH 3,320
ACCOUNTS AND NOTES RECEIVABLE
A/R - HUD 15,403
TOTAL ACCOUNTS AND NOTES RECEIVABL 15,403
TOTAL CURRENT ASSETS 18,723
NONCURRENT ASSETS:
TOTAL ASSETS 18,723
LIABILITIES & EQUITY
LIABILITIES:
CURRENT LIABLITIES:
A/P Vendors and Contractors -2,200
Accrued Payroll & Payroll Taxes 652
Interprogram-Due To 2,142
TOTAL CURRENT LIABILITIES 594
TOTAL LIABILITIES 594
EQUITY
RESERVED FUND BALANCE
Reserved for Capital Activities -10,934
TOTAL RESERVED FUND BALANCE -10,934
RETAINED EARNINGS:
Retained Earnings-Unrestricted Net Ass 29,063
Mainstream 5 (ms5)
Balance Sheet
Period = Jun 2025
Book = Accrual
Page 1 of 2
39
Current Balance
Mainstream 5 (ms5)
Balance Sheet
Period = Jun 2025
Book = Accrual
TOTAL RETAINED EARNINGS:29,063
TOTAL EQUITY 18,129
TOTAL LIABILITIES AND EQUITY 18,723
Page 2 of 2
40
Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
GRANT INCOME
FSS Income 5,245 26,224
TOTAL GRANT INCOME 5,245 26,224
TOTAL INCOME 5,245 26,224
EXPENSES
ADMINISTRATIVE EXPENSES
Miscellaneous Admin Expenses
Sundry Exp - STEP 5,245 26,224
Total Miscellaneous Admin Expenses 5,245 26,224
TOTAL ADMINISTRATIVE EXPENSES 5,245 26,224
MAINTENANCE AND OPERATIONAL EXPENSES
TOTAL EXPENSES 5,245 26,224
NET INCOME 0 0
FSS (fssgrant)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 1
41
Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
GRANT INCOME
ROSS Revenue 6,621 33,104
TOTAL GRANT INCOME 6,621 33,104
TOTAL INCOME 6,621 33,104
EXPENSES
ADMINISTRATIVE EXPENSES
Miscellaneous Admin Expenses
Other Misc Admin Expenses 621 3,104
Total Miscellaneous Admin Expenses 621 3,104
TOTAL ADMINISTRATIVE EXPENSES 621 3,104
TENANT SERVICES
Project Coordinator 6,000 30,000
TOTAL TENANT SERVICES EXPENSES 6,000 30,000
MAINTENANCE AND OPERATIONAL EXPENSES
TOTAL EXPENSES 6,621 33,104
NET INCOME 0 0
ROSS (rosssvc)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 1
42
Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
GRANT INCOME
Hennepin County Rev 44,052 252,873
Hennepin County Admin Rev 4,283 24,647
TOTAL GRANT INCOME 48,335 277,520
TOTAL INCOME 48,335 277,520
EXPENSES
ADMINISTRATIVE EXPENSES
Administrative Salaries
Administrative Salaries 3,733 15,876
Employee Benefit Contribution-Admin 1,107 5,866
Total Administrative Salaries 4,840 21,741
Other Admin Expenses
Accounting Fees 160 795
Total Other Admin Expenses 160 795
Miscellaneous Admin Expenses
Software 0 2,000
Other Misc Admin Expenses 0 288
Total Miscellaneous Admin Expenses 4,840 24,030
TOTAL ADMINISTRATIVE EXPENSES 5,000 24,825
MAINTENANCE AND OPERATIONAL EXPENSES
HOUSING ASSISTANCE PAYMENTS
Housing Assistance Payments 45,674 253,242
TOTAL HOUSING ASSISTANCE PAYMENTS 45,674 253,242
TOTAL EXPENSES 50,674 278,067
NET INCOME -2,339 -547
Stable Home (stablehm)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 1
43
Current Balance
All
ASSETS
CURRENT ASSETS
CASH
Unrestricted Cash
Cash Operating 1 43,262
Total Unrestricted Cash 43,262
TOTAL CASH 43,262
ACCOUNTS AND NOTES RECEIVABLE
A/R - Tenant Payment Agreement (TPA 2,648
A/R -Other 141,094
TOTAL ACCOUNTS AND NOTES RECEIVABL 143,741
TOTAL CURRENT ASSETS 187,004
NONCURRENT ASSETS:
FIXED ASSETS
SBITA Asset 5,836
Accumulated Amortization -1,167
TOTAL FIXED ASSETS 4,669
TOTAL NONCURRENT ASSETS 4,669
TOTAL ASSETS 191,673
LIABILITIES & EQUITY
LIABILITIES:
CURRENT LIABLITIES:
A/P Vendors and Contractors 817
Accrued Payroll & Payroll Taxes 11,576
Interprogram-Due To 149,357
Accrued Compensated Absences-Curren 1,524
TOTAL CURRENT LIABILITIES 163,274
NONCURRENT LIABILITIES:
Accrued Compensated Absences-LT 243
SBITA Liability 4,312
TOTAL NONCURRENT LIABILITIES 4,555
TOTAL LIABILITIES 167,829
Stable Home (stablehm)
Balance Sheet
Period = Jun 2025
Book = Accrual
Page 1 of 2
44
Current Balance
Stable Home (stablehm)
Balance Sheet
Period = Jun 2025
Book = Accrual
EQUITY
RETAINED EARNINGS:
Retained Earnings-Unrestricted Net Ass 23,844
TOTAL RETAINED EARNINGS:23,844
TOTAL EQUITY 23,844
TOTAL LIABILITIES AND EQUITY 191,673
Page 2 of 2
45
Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
Rental Income
50059 HAP Subsidy 18,747 110,893
Tenant Based Subsidy -3,600 -3,600
Total Rental Income 15,147 107,293
TOTAL TENANT INCOME 15,147 107,293
GRANT INCOME
Port-In Admin Fees Earned -387 -387
Admin Fee Revenue 1,650 9,945
Admin Fee Revenue- to STEP 1,500 9,030
TOTAL GRANT INCOME 2,763 18,588
TOTAL INCOME 17,910 125,881
EXPENSES
ADMINISTRATIVE EXPENSES
Administrative Salaries
Administrative Salaries 1,273 5,585
Employee Benefit Contribution-Admin 0 1,700
Total Administrative Salaries 1,273 7,285
Other Admin Expenses
Accounting Fees 160 795
Total Other Admin Expenses 160 795
Miscellaneous Admin Expenses
Software 0 1,323
Other Misc Admin Expenses 0 96
Sundry Exp - STEP 0 3,560
Total Miscellaneous Admin Expenses 1,273 12,264
TOTAL ADMINISTRATIVE EXPENSES 1,433 13,059
MAINTENANCE AND OPERATIONAL EXPENSES
HOUSING ASSISTANCE PAYMENTS
Housing Assistance Payments 18,888 110,893
TOTAL HOUSING ASSISTANCE PAYMENTS 18,888 110,893
Kids in the Park (kidspark)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 2
46
Period to Date Year to Date
Kids in the Park (kidspark)
Income Statement
Period = Jun 2025
Book = Accrual
TOTAL EXPENSES 20,321 123,952
NET INCOME -2,411 1,929
Page 2 of 2
47
Current Balance
All
ASSETS
CURRENT ASSETS
CASH
Unrestricted Cash
Cash Operating 1 43,750
Total Unrestricted Cash 43,750
TOTAL CASH 43,750
ACCOUNTS AND NOTES RECEIVABLE
A/R -Other 42,131
TOTAL ACCOUNTS AND NOTES RECEIVABL 42,131
TOTAL CURRENT ASSETS 85,881
NONCURRENT ASSETS:
FIXED ASSETS
SBITA Asset 4,377
Accumulated Amortization -875
TOTAL FIXED ASSETS 3,502
TOTAL NONCURRENT ASSETS 3,502
TOTAL ASSETS 89,383
LIABILITIES & EQUITY
LIABILITIES:
CURRENT LIABLITIES:
A/P Vendors and Contractors 2,115
Accrued Payroll & Payroll Taxes 4,096
Interprogram-Due To 64,342
Accrued Compensated Absences-Curren 571
TOTAL CURRENT LIABILITIES 71,124
NONCURRENT LIABILITIES:
Accrued Compensated Absences-LT 90
SBITA Liability 3,234
TOTAL NONCURRENT LIABILITIES 3,324
TOTAL LIABILITIES 74,448
Kids in the Park (kidspark)
Balance Sheet
Period = Jun 2025
Book = Accrual
Page 1 of 2
48
Current Balance
Kids in the Park (kidspark)
Balance Sheet
Period = Jun 2025
Book = Accrual
EQUITY
RETAINED EARNINGS:
Retained Earnings-Unrestricted Net Ass 14,935
TOTAL RETAINED EARNINGS:14,935
TOTAL EQUITY 14,935
TOTAL LIABILITIES AND EQUITY 89,383
Page 2 of 2
49
Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
OTHER INCOME
Investment Income - Unrestricted 2,493 7,743
Investment Income - Restricted 46 276
TOTAL OTHER INCOME 2,539 8,018
TOTAL INCOME 2,539 8,018
EXPENSES
ADMINISTRATIVE EXPENSES
Other Admin Expenses
Accounting Fees 170 500
Total Other Admin Expenses 170 500
Miscellaneous Admin Expenses
Bank Fees 143 857
Total Miscellaneous Admin Expenses 143 857
TOTAL ADMINISTRATIVE EXPENSES 313 1,357
MAINTENANCE AND OPERATIONAL EXPENSES
TOTAL EXPENSES 313 1,357
NET INCOME 2,226 6,661
General Fund Cocc - interco (cocc)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 1
50
Current Balance
All
ASSETS
CURRENT ASSETS
CASH
Unrestricted Cash
Cash Operating 1 143,420
Total Unrestricted Cash 143,420
TOTAL CASH 143,420
OTHER CURRENT ASSETS
Investments-Unrestricted 281,162
Investments-Restricted 13,353
Interprogram-Due From 249,453
TOTAL OTHER CURRENT ASSETS 543,968
TOTAL CURRENT ASSETS 687,387
NONCURRENT ASSETS:
TOTAL ASSETS 687,387
LIABILITIES & EQUITY
LIABILITIES:
CURRENT LIABLITIES:
A/P Other 1,030
TOTAL CURRENT LIABILITIES 1,030
TOTAL LIABILITIES 1,030
EQUITY
RESERVED FUND BALANCE
Reserved for Operating Activities 13,353
TOTAL RESERVED FUND BALANCE 13,353
RETAINED EARNINGS:
Retained Earnings-Unrestricted Net Ass 673,005
TOTAL RETAINED EARNINGS:673,005
TOTAL EQUITY 686,357
General Fund Cocc - interco (cocc)
Balance Sheet
Period = Jun 2025
Book = Accrual
Page 1 of 2
51
Current Balance
General Fund Cocc - interco (cocc)
Balance Sheet
Period = Jun 2025
Book = Accrual
TOTAL LIABILITIES AND EQUITY 687,387
Page 2 of 2
52
Period to Date Year to Date
Revenue & Expenses
INCOME
TENANT INCOME
GRANT INCOME
Capital Fund Grants 18,145 41,895
TOTAL GRANT INCOME 18,145 41,895
TOTAL INCOME 18,145 41,895
EXPENSES
ADMINISTRATIVE EXPENSES
MAINTENANCE AND OPERATIONAL EXPENSES
NET INCOME 18,145 41,895
CFP (cfp2024)
Income Statement
Period = Jun 2025
Book = Accrual
Page 1 of 1
53
Current Balance
All
ASSETS
CURRENT ASSETS
CASH
NONCURRENT ASSETS:
FIXED ASSETS
Site Improvement 254,442
TOTAL FIXED ASSETS 254,442
TOTAL NONCURRENT ASSETS 254,442
TOTAL ASSETS 254,442
LIABILITIES & EQUITY
LIABILITIES:
EQUITY
RETAINED EARNINGS:
Retained Earnings-Unrestricted Net Ass 254,442
TOTAL RETAINED EARNINGS:254,442
TOTAL EQUITY 254,442
TOTAL LIABILITIES AND EQUITY 254,442
CFP (cfp2024)
Balance Sheet
Period = Jun 2025
Book = Accrual
Page 1 of 1
54